UNCERTAINTY will shape business sentiment next year, following a year marked by Liberation Day slowdowns, geopolitical risks and local infrastructure challenges, according to the top executive of BDO Unibank Inc. (BDO).
In a media event on Wednesday night, BDO President and Chief Executive Officer Nestor Tan described 2025 as a “rollercoaster” and a “rough” year.
“The business community is not sure what’s likely to happen and therefore, if they’re not sure, then they will hold back,” Tan said.
“Not because they don’t want to invest, but they will hold back a little. And we expect that to hap -
By Reine Juvierre S. Alberto @reine_alberto
Bangko Sentral ng Pilipinas (BSP) may be approaching the end of its easing cycle after delivering its latest 25-basis-point rate cut, the fifth reduction this year, to “revive” economic activity.
During its monetary policy meeting on Thursday, the Monetary Board reduced the BSP’s Target Reverse Repurchase (RRP) Rate by 25 basis points to 4.50 percent.
The interest rates on the overnight deposit and lending facilities were also adjusted to 4.00 percent and 5.00 percent, respectively.
The central bank has cut rates eight times since August 2024, totaling 200 basis points, reducing the policy rate from 6.50 percent to 4.5 percent.
“The cut will revive economic activity a bit at a time when painful governance issues around infrastructure investments of weakened government spending, business confidence and domestic demand,” BSP Governor and Chairman of the Monetary Board Eli M. Remolona Jr. said in a press briefing.
“Depending on the data, [the easing cycle] may have ended already. This may be the last cut. But depending on what else we see, we can still consider another
DESPITE steady incomes and a positive outlook for the year ahead, half of Filipino households are tightening their purse strings this holiday season, feeling the pinch of rising prices and taking more cautious approach to spending.
In TransUnion’s fourth quarter Consumer Pulse Study, 50 expect of Filipino households plan to spend less on holiday shopping compared to last year, reflecting more deliberate spending even during traditionally high-consumption periods.
While 42 percent of Filipino households said income went
cut,” Remolona added, as the BSP assesses the effects of its previous rate cuts and other economic developments, including possible supply shocks.
“Another rate cut would be justified if things are worse than we thought. And then just as what’s happening in Q3 and Q4 growth was worse than we thought,” Remolona said. “So if that kind of thing continues, then we’re likely to cut policy rates again.”
Compensating for corruption fallout
THE outlook for domestic economic growth has weakened further, the Monetary Board said, as overall business sentiment has continued to decline on concerns about governance issues and lingering uncertainty over global trade policy.
With economic growth slowing more than expected to 4 percent in the third quarter, Remolona said sentiment remains weak due to the corruption issue.
While Remolona recognized that
up in the past three months, 41 percent reported no change and 18 percent saw a decline. But with income levels held stable, spending remains cautious, with families trimmed extras, paying for what matters first and carried the same financial pressure as last year, according to the study.
Inflation continued to dominate the worry list, TransUnion said, with 81 percent ranking everyday prices as their top financial concern, 57 percent picking jobs and 45 percent, interest rates.
pen going into 2026,” he added.
At the beginning of 2025, Tan said BDO, the country’s top bank, started “very strong” and carried over its robust performance in the fourth quarter of 2024.
“And then liberation day happened, so people started to pull back. And then, as things are starting to stabilize and things are starting to improve, what happens? We have geopolitical risks, problems,” Tan said.
“And then the sticks are starting to settle, supply chains are being normalized, then we have the flood control thing,” he added. “Now, the mood is, I would say, at best is somber. I don’t know if you feel the same way, but business is
that way.” Despite all the “doom and gloom,” Tan remained optimistic as there are still “pockets” of opportunities outside of the uncertain environment.
As for BDO, Tan said provincial expansion is growing faster than the National Capital Region on average. The lender also sees some activity in infrastructure, energy and the like, where people continue to invest, he added.
“It’s just not a general positive mood,” Tan noted.
Meanwhile, BDO Chairperson and SM Investments Corporation Vice Chairwoman Tessie Sy-Coson said that, despite all the political
noise, they will just have to do their work.
“For us, we’re going to continue what we have planned, and I think we will be able to achieve our targets next year,” Sy-Coson added.
Based on its quarterly report, BDO’s net income grew by 4 percent to P63.1 billion as of the first nine months of 2025 from P60.6 billion in the same period last year. The bank attributed this to the “sustained performance” of its core business segments. BDO’s net interest income rose by 8 percent to P150 billion, on the back of the expansion in its earnings assets. Reine Juvierre S. Alberto
By Justine Xyrah Garcia
THE Department of Labor and Employment (DOLE) reported that 88.69 percent of the over 30,00 establishments it inspected this year complied with occupational safety and health (OSH) standards.
Data from DOLE showed that a total of 32,257 establishments were inspected by the agency as of October 2025, exceeding the department’s annual target of 28,500 firms.
The agency said that among the establishments inspected were business process outsourcing (BPO) firms in Cebu, where
employees were reportedly asked to return to work immediately after a 6.9-magnitude earthquake.
In a recent statement, Labor Secretary Bienvenido E. Laguesma said the department continues to prioritize worker safety.
“DOLE will always put primordial consideration to the safety and health of our workers above any other consideration,” he said, adding that OSH programs are being rolled out more intensively nationwide.
The agency added that the inspections were complemented by 541 training programs, covering 21,920 workers from 14,697 companies.
The agency described the trainings as part of efforts to reinforce compliance with OSH rules, particularly in sectors prone to hazards.
“In line with President Ferdinand R. Marcos Jr. administration’s call to strengthen the protection of Filipino workers, the [DOLE] continues to champion workplace safety and [OSH] compliance through its various programs,” it added.
Just last month, the DOLE issued Labor Advisory No. 15, Series of 2025, instructing all employers to adopt disaster-ready continuity plans to safeguard workers across sectors.
Under the measure, firms are
now required to adopt a “comprehensive and responsive” OSH program that includes hazard identification and risk assessment (HIRAC), crisis management strategies, clear emergency protocols and measures for vulnerable workers. Employers who fail to implement required control measures or ensure the safety of workers during emergencies may be held liable under the Labor Code and Republic Act 11058. DOLE’s routine inspections remain on hold until December 31, but complaint-based inspections will continue, particularly for cases involving potential risks to workers.
AI TO THE RESCUE San Juan City Mayor Francis Zamora (inset) leads the launching and demonstration of ClearBot—a solar-powered, AI-driven robotic vessel designed to remove floating garbage—on Thursday, December 11, 2025, along the San Juan River near the N. Domingo Bridge. ClearBot is part of the city’s broader initiative to decongest the river, improve water flow, and reinforce
Historic open bicam on ’26 budget to be live-streamed
By Jovee Marie N. Dela Cruz @joveemarie
MEMBERS
of the House of Representatives’ bicameral conference committee on the 2026 national budget are set to face their Senate counterparts in a historic open session on Saturday, a move seen as a major step toward greater transparency in the national budget process.
of disagreeing provisions for the deliberations,” Suansing said.
Under the leadership of Speaker Faustino “Bojie” Dy III, the House has designated its contingent to the bicameral conference on the proposed P6.793-trillion budget for FY 2026. The group includes Committee on Appropriations Chair Mikaela Angela Suansing, Senior Vice Chair Albert Garcia, Deputy Speaker Kristine Singson-Meehan, Minority Leader Marcelino Libanan, and Representatives Jose Alvarez, Maria Carmen Zamora, Romeo Momo Sr., Rufus Rodriguez, Jesus Romualdo, Brian Yamsuan, Javier Miguel Benitez, and Allan Ty.
mualdez laid the groundwork for today’s initiatives.
BIR chief assures senators he will review all LOAs
BUREAU of Internal Revenue Commissioner Charlito Martin R. Mendoza announced Thursday that all Letters of Authority (LOAs) will now require clearance from his office before issuance, describing the move as an immediate step to strengthen oversight and restore public trust in the agency’s audit system.
and other concerned BIR units to prepare all relevant data, audit histories, and investigation reports in advance of succeeding Senate hearings. He called on taxpayers, businesses, and stakeholders to report irregularities or process improvement suggestions through tellthecommissioner@bir. gov.ph.
Appearing at a Senate Blue Ribbon Committee hearing on alleged abuses in the issuance of LOAs, he said it is part of broader reforms, including digitalization, aimed at reducing human intervention and ensuring audits are fair, transparent, and predictable.
Also at the hearing, Finance Secretary Frederick D. Go expressed full support for Mendoza as he implements reforms to strengthen accountability and reduce discretionary enforcement.
Nueva Ecija Rep. Mika Suansing, chairperson of the House Committee on Appropriations, announced on Thursday that the bicameral conference committee (BICAM) on the 2026 national budget has been rescheduled to Saturday, December 13, instead of Friday. In a statement, Suansing said the move was agreed upon by both the House of Representatives and the Senate to give technical staff sufficient time to prepare for the proceedings.
Spending…
Continued from A1
“This is the first time that the BICAM will be live-streamed. Intensive preparations are required, including the creation of a matrix
House Committee on Appropriations Vice Chairman Zia Alonto Adiong said Thursday that opening the bicameral conference to the public and media is part of a broader transparency framework that has been evolving since the start of the 20th Congress.
“These reforms were designed to make the budget more transparent, participatory, and accessible,” Adiong said, noting that procedural changes introduced under then-speaker Ferdinand Martin G. Ro-
“Consumers felt price pressure even as official inflation figures showed some easing. Employment concerns lingered beside it, especially in service sectors tied to global demand,” the study said.
Key reforms in the House budget process include the abolition of the “small committee,” which previously finalized amendments behind closed doors, and the opening of House-Senate bicameral meetings to public scrutiny. The reforms also allow formal participation of civil society, people’s organizations, and private sector representatives in House budget hearings, while strengthening oversight mechanisms to ensure timely and proper implementation of appropriations. Additionally, there is a renewed focus on prioritizing investments that directly benefit communities and essential public services.
Adiong emphasized that these reforms “reinforce a culture of openness and ensure citizens can clearly see how national resources are allocated and used.”
Spending behavior also reflects confidence and caution, as nearly half of households have scaled back discretionary activities, such as dining out and travel.
One in four cut back on digital services, while another quarter dropped subscriptions or memberships altogether.
“The trend mirrors the wider economy—still expanding, but at a calmer pace after two years of rebound,” Weihan Sun, principal of research and consulting for Asia Pacific at TransUnion, said.
“Consumers are managing spending more pragmatically, especially with Filipinos looking to spend less this holiday season compared to last year. It’s a sign of practical optimism. People are still participating in the economy but are doing so on their own terms and with greater financial intent,” Sun added.
As households stabilize their finances, their attitudes toward credit are changing.
While 58 percent of Filipinos say access to credit is very important, the data shows a shift toward more deliberate borrowing. Confidence in credit availability remains stable, with 42 percent saying they have sufficient access, while Gen X (47 percent) and Millennials (46 percent) report the most confidence.
While close to three in every five Filipinos say access to credit is very important for achieving their financial goals, TransUnion said this marks a slight dip from the same time last year.
“Consumers are depending less on borrowing for immediate needs and more for deliberate, planned financial actions,” the report noted.
Borrowing intent declined slightly, with 47 percent planning to apply for or refinance credit, down from 53 percent last year.
Most credit activity now centers on personal loans (49 percent) and buy now, pay later (35 percent) arrangements.
Abandoned applications also fell to 56 percent from 64 percent previously, though high costs, possible rejection, and lengthy processing still pose hurdles.
The Consumer Pulse Study surveyed 961 adults from September 25 to October 15, 2025, covering Gen Z, Millennials, Gen X and Baby Boomers. Reine Juvierre S. Alberto
Responding to a question from Senator Bam Aquino on urgent steps for audit reform, Mendoza said, “All LOAs will be cleared by my office,” emphasizing that this safeguard will prevent arbitrary, repetitive, or overlapping audit orders.
In his opening statement, the BIR chief stressed the broader goal of rebuilding taxpayer trust:
“We must eliminate arbitrariness, remove repetitive or overlapping issuances, and establish near-time monitoring of ongoing audits. These improvements, many of which can be enabled with the help of an integrated digital system, will reinforce the checks and balances between enforcement and oversight. Rebuilding trust requires reform on both fronts: correcting how enforcement is carried out, and ensuring that rules and oversight mechanisms are clear, consistent, and transparent.”
Mendoza also directed the Technical Working Group reviewing LOAs
BSP…
Continued from A1
monetary policy cannot directly address the corruption scandal, it can compensate for its impacts on business sentiment and investor confidence.
“When those things weaken, it would weaken growth, and lower policy rates can compensate for that,” Remolona said.
While it usually takes one to two years for monetary policy to take its full effect, recovery could be expected in 2026 and 2027 due to previous rate cuts, Remolona added.
“We also hope that government infrastructure spending will return to normal levels and be more effective with reduced leakages, and that investor sentiment and consumer sentiment will improve,” Remolona said.
The governor also acknowledged that there is still a global policy uncertainty going on.
Although there is less of it now, Remolona said it has not gone away and tends to weaken demand.
“There’s a wait-and-see attitude
Continued from A12
can now start to settle in with their room rates and focus on increasing the occupancy rate, which is dearly needed,” he noted.
The tourism property consultant also sees rising confidence among hospitality investors with about 50 hotels opening in 2026, adding 12,248 new room keys across the country. “There are a lot of new hotel brands that will be opening, and that will diversify the type of hotels that are available to the public to stay in, in the coming years,” said Lay.
Among the new hotel brands, mostly subcategories of international hospitality chains but with local owners, include Moxy Hotels (Marriott International), Radisson Red (Radisson Hotel Group), Dusit Collection and Dusit Princess (Dusit International), and Canopy by Hilton, to name a few.
Second-tier cities host more brands
HE also noted that with the new brands being introduced next year showed the “progression of brand-
Blue Ribbon chairman Senator Panfilo Lacson pledged to secure funding for BIR digitalization initiatives, saying full digital transformation is essential to curb corruption and limit human discretion in audit processes.
Senator Erwin T. Tulfo, committee vice chair mane, criticized the alleged misuse of LOAs as an extortion tool against businesses, saying many business owners are afraid to report abuses for fear of retaliation.
Both Tulfo and Senator Joseph Victor “JV” G. Ejercito, who initially raised the complaints and requested the investigation, are preparing witnesses and evidence to be presented to the committee in succeeding hearings to ensure a thorough review of alleged LOA abuses.
“The BIR has temporarily suspended the issuance of LOAs as part of the review and modernization of its audit and enforcement processes,” Mendoza said, emphasizing that reforms aim to increase voluntary compliance through fairness rather than fear of punitive action.
when you don’t know what the situation will be.”
The governor said he was hoping the economy would recover by the first half of 2026, but with the new data the BSP is getting, Remolona said, “it looks like it’s more gonna be in the second half rather than the first half.”
Peso back to P58 level
THE Philippine peso rebounded on Thursday, back at P58 levels after opening at P59.12, data from the Bankers’ Association of the Philippines showed.
The local currency traded from a low of P58.96 to a high of P59.22, after opening at P58.99. Remolona said the peso touching the P59 level is not threatening inflation. “It hasn’t weakened enough and the oil prices have been benign. It’s when the two of them move in an adverse direction together that we begin to worry about.”
Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, said the peso improved after Remolona’s hawkish signals that the latest rate cut could be the last.
ing and improving the quality of hotels as we move into the secondary and tertiary cities around the Philippines. So some of the cities that you may not see on a regular basis on this kind of list, places like Baguio, Zamboanga, even Batangas and Laguna, you’ve seen that there are new international brands that are being pushed to those destinations to meet a demand [there].”
But the most popular segment being developed by investors is the upper mid-scale hotels (P4,700P5,700 per night), which are usually operated by SM Hotels and Conventions Corp., Megaworld Hotels Corp., and the like. “We expect 15 of those properties [covering] 4,000 room keys in that segment.” Regarding increasing flight connectivity, Lay cited extra flights from Australia, the Middle East, and “more connections with Europe over the coming year as well.” Jetstar, for instance, has started offering direct flights between Perth and Manila, and a seasonal route between Melbourne and Cebu. (See, “New Jetstar nonstop services seen to lift PHL
market” in the BusinessMirror, Dec. 4, 2025.)
Marcos says father taught him to sacrifice for good of country
PRESIDENT Marcos said he has learned “many things” from the presidency of his father, the late President Ferdinand Marcos Sr., but acknowledged that his own brand of leadership is “different.”
In the sixth episode of his podcast aired on Thursday, Marcos said one of the lessons his father taught him was to keep going, even if it means making sacrifices for the sake of the country.
The President said he considers himself the “luckiest” person because he was born a Marcos, saying he does not regret being part of the family.
“I think the basic thing that I learned from my father is: don’t stop. If you believe in something you’re doing for the country, for your people, do not stop. You will have to sacrifice,” he said.
“Don’t stop. You will fail. You have to stand up again,” he added, noting that there were even times when he was “sleepless” because of the grueling job as the country’s Chief Executive.
Marcos admitted that he is now living in a “different world,” hence the need to take unconventional approaches for the country’s betterment.
He also acknowledged that his efforts are not enough because “the work never ends.”
“I’m here to serve. I’m not here for myself…I really think that there are many things that I could do. And I say to myself, ‘You’re not
yet doing it. You haven’t finished. Go, go, go. Keep doing it. Keep working,’” Marcos said.
To relieve stress, Marcos said he takes a break for at least three hours, adding that listening to music, spending time with his family and exercising help a lot.
“I’m fine. Over the years, I’ve gotten used to it. I have a big advantage because my father was President. So, for 20 years, I watched him. I know how difficult this job is. You have to learn to manage it,” he said.
Ang sistema ko pag may malaking problema [My system has always been: when there is a big problem], my approach is always like this—learn everything about the problem, then go away and do something else, something completely different. When you come back, you usually have a new idea. That usually works for me.”
Asked how he is as a father to his children, Marcos said he “teach[es] by example.”
Marcos expressed hope that his successor would build on the structural reforms initiated under his leadership and institutionalize them for the public’s benefit.
“My hope and the reason the structural change is important is because kahit wala na ako rito, sana ang mga pagbabagong nasimulan namin o na tumatakbo na, magtuluytuloy na [even if I’m no longer here, I hope the reforms we’ve started or are already underway will continue],” he said. PNA
Coast Guard prepares for Christmas Season passenger rush at piers
By Rex Anthony Naval
THE Coast Guard (PCG) on Thursday said it is preparing for this year’s “Oplan Biyaheng Ayos: Pasko 2025” to ensure safe and secure holiday travel for millions of sea passengers nationwide this Yuletide Season.
From December 20 to January 4, all Coast Guard Districts, Stations, and Sub-Stations will be on heightened alert to manage the anticipated surge of travelers during the Christmas and New Year holidays, the Coast Guard Commandant, Adm. Ronnie Gil Gavan, said.
Under the directive of President Marcos, Gavan said the PCG will work closely with the Department of Transportation (DOTr), Philippine Ports Authority, and Maritime Industry Authority to intensify safety and
security measures in ports and maritime tourism destinations nationwide.
The PCG spokesperson, Capt. Noemie Cayabyab, said Coast Guard personnel will augment DOTr Malasakit Help Desks located in major seaports to provide travelers with immediate assistance and swift emergency responses.
“To uphold passenger welfare, PCG medical teams will ensure the 24/7 availability of medical support. Coast Guard K-9 teams will also inspect vessels and baggage to prevent the transport of prohibited items and ensure full compliance with safety regulations,” she added.
Cayabyab also emphasized that PCG responders will patrol beaches and island resorts where thousands of local and foreign tourists gather to celebrate Christmas and New Year.
RP, US militaries conduct another MCA off Zambales
THE militaries of the Philippine and United States early this week conducted maritime exercises within the country’s exclusive economic zone (EZZ) in the West Philippine Sea. On Thursday, the Armed Forces (AFP) in a statement said the Philipines’ Ninth Bilateral Maritime Cooperative Activity (MCA) with the US was held on Tuesday and Wednesday west of Zambales. The activity was aimed at im -
No rush to arrest dela Rosa–DOJ
Tproving the interoperability of the AFP and the US Indo-Pacific Command (USIndopacom) “amid evolving security challenges,” the statement said.
“This activity reaffirms the enduring defense partnership between the Philippines and the US, maintaining the vital role in safeguarding regional peace and ensuring open and secure maritime domains,” the AFP added.
By Joel R. San Juan @jrsanjuan1573
HE Department of Justice (DOJ) on Thursday assured Sen. Ronald dela Rosa that it will wait for the Supreme Court’s decision on his petition questioning the constitutionality of the government’s continued cooperation with the International Criminal Court (ICC) before acting on the supposed arrest warrant issued by the latter in connection with his role in the bloody anti-illegal campaign of the Duterte administration.
However, Prosecutor General Richard Anthony Fadullon said the DOJ could not guarantee dela Rosa’s safety in case he decides to come out of hiding amid reports that a warrant has been issued by the ICC for his arrest.
“The Department of Justice does not guarantee anything. I mean we can only guarantee that we will abide by the rule of law,”
Fadullon said. However, Fadullon reiterated that the DOJ has not seen a copy of the supposed arrest warrant issued by the ICC.
“We heard that there was one, but we have not seen a copy…It would have to move through the DFA [Department of Foreign Affairs] and the PCTC [Philippine Center on Transnational Crimes] before it is relayed with the depart -
ment. Right now, we have no information on this,” Fadullon said.
Likewise, Fadullon reiterated the DOJ’s position that it would be prudent to wait for the resolution of the senator’s petition that is still pending before the Court.
De la Rosa’s petition challenges the arrest and surrender of former President Rodrigo Duterte’s to the ICC and the the Philippine government’s cooperation with the ICC.
Dela Rosa insisted that any arrest, transfer or cooperation executed by the Executive branch without the approval of the court would constitute grave abuse of discretion, violation of due process and usurpation of judicial authority.
He cited the new Rules on Extradition Proceedings issued by the Supreme Court which took effect on November 10, 2025 which mandates that the court must first determine the existence of probable cause before any warrant of arrest may be issued for extradition or surrender.
The senator added that the Rules provides that “no surrender or turnover shall take place unless there is final judgment by the court.”
Meanwhile, Interior Secretary Juan Victor Remulla said the government is continuously monitoring the movements of
the senator in light of reports that the ICC has issued an arrest warrant against him.
“We are monitoring him. Alam namin kung nasaan siya. At hintayin lang namin kung may utos talaga ang korte o wala [We are monitoring him. We know where he is. And we will just wait to see if the court really has an order or not],” Remulla said in a television interview.
Remulla disclosed that dela Rosa has been seen in six different locations using different vehicles with the help of some friends.
“He‘s been moving from one house to another. His friends are hiding him. He stays inside the house then uses different vehicles whenever he needs to move,” the DOJ chief said.
Remulla, however, stressed that dela Rosa could not be considered a fugitive yet since the ICC has yet to officially release an arrest warrant against him.
He also assured that dela Rosa will be allowed to seek redress before the SC or the lower courts once an arrest is issued against him.
“Whatever the decision of the court, the government will abide,” Remulla assured.
Dela Rosa’s lawyer, Israelito Torreon, earlier said that the senator is avoiding public appearance due to safety concerns.
Speaker, Marcos’ son file anti-dynasty bill
By Jovee Marie N. dela Cruz @joveemarie
AFTER President Marcos placed it among his top priorities, Speaker Faustino Dy III and Majority Leader Ferdinand Alexander A. Marcos formally filed a long-awaited measure seeking to prohibit political dynasties, marking a major step toward fulfilling a decades-old mandate of the 1987 Constitution.
Filed on Wednesday, House Bill 6771 lays down a comprehensive legal definition and prohibition of political dynasties – an enabling law that has remained missing for nearly four decades.
In the bill’s explanatory note, the authors underscore that the core of democratic governance is political equality, stressing that every Filipino must have “an equal opportunity to participate in and influence political decision-making.”
They cite Article II, Section 26 of the Constitution, which explicitly mandates the State to “guarantee equal access to
opportunities for public service and prohibit political dynasties as may be defined by law.”
Yet, the lawmakers point out that despite this clear directive, dynastic politics continue to dominate national and local elective posts due to the absence of an enabling statute.
Under the measure, spouses, siblings, and relatives within the fourth civil degree of consanguinity or affinity of any elected public official will be barred from simultaneously holding specified elective positions. The bill also prevents immediate succession to the same office, a mechanism designed to stop the widespread practice of rotating seats within political clans.
Dy and Marcos emphasized that the proposal “is a faithful execution of the Constitution” and a strategic reform aimed at promoting good governance. The measure, they said, strengthens the principle that “public office is a public trust” by ensuring that leadership positions are attained through merit and public confidence rather than
family lineage.
The bill also asserts the Philippines’ alignment with international democratic norms, reinforcing commitments to human rights, anti-corruption frameworks, and inclusive political participation.
Should the measure pass, Congress would finally fulfill its constitutional duty to prohibit political dynasties and, according to its authors, take a “crucial step toward building a more inclusive and accountable political system for all Filipinos.”
Strong commitment
BACOLOD Rep. Alfredo Abelardo Benitez said the Marcos administration’s recent move to declare the anti-dynasty measure a priority demonstrates its strong commitment to long-delayed political reforms.
In an interview, Benitez said that with the priority listing, the bill no longer needs to be certified as urgent to move forward. What matters, he added, is that lawmakers across parties are finally engaging in substantive discussions
on ending political dynasties—an issue that has stalled in Congress for decades.
He noted that Marcos’ support signals a major shift in the political climate, as past administrations failed to advance similar measures despite a constitutional mandate to prohibit political dynasties. He said passing the bill would be a significant step toward strengthening democratic institutions, ensuring fair competition during elections, and opening opportunities for new leaders to emerge.
“This is a long-overdue reform,” he said. “What’s important now is that the administration is serious, and Congress is ready to discuss it thoroughly and honestly.” Benitez said he is optimistic that momentum within Congress, combined with the administration’s push, will pave the way for the landmark measure to finally be enacted.
“It no longer needs to be certified as urgent because the discussions will go well. And I think we can pass this within the 20th Congress,” Benitez said.
RP, France discuss 2026 military exercises
RANKING defense and military officials from the Philippines and France have discussed the planned military exercises for next year.
The Department of National Defense (DND) spokesman, Assistant Secretary Arsenio Andolong, said the discussions took place during the Fifth Joint Defense Cooperation Committee (JDCC) Meeting between the two nations that took place in Mandaluyong City on Wednesday.
“Both sides also reviewed planned Multilateral Maritime Cooperative Activities, including preparations for Multinational Exercise Marara 2026, Exercise Balikatan 2026, and Exercise Samasama 2026.
Participation in these exercises underscores the growing and
long-term defense partnership between the Philippines and France,” Andolong said.
He said this meeting brought together senior defense officials from the Philippines and France to discuss ongoing and emerging areas of cooperation.
He added that JDCC discussions covered a wide range of cooperation areas, including an exchange of views on Indo-Pacific security developments.
Andolong said the discussions focused on Pacific Island clusters and the West Philippine Sea-South China Sea, critical undersea infrastructures, ongoing multilateral initiatives, and broader regional strategic issues.
Defense Assistant Secretary
for International Affairs
Marita Yoro, who headed the Philippine delegation for the 5th JDCC, noted the significant progress in bilateral defense cooperation since last year’s meeting.
She highlighted the French Navy’s participation in Exercise Balikatan 2024, the conduct of multiple port calls in the Philippines, and the commencement of the first round of negotiations on the proposed Philippines-France Status of Visiting Forces Agreement (Sovfa) in Paris last June.
Yoro emphasized that the Sovfa is crucial in establishing a clear legal framework to support joint military activities.
Yoro said these developments align with the
2023 Letter of Intent aimed at strengthening the defense ties between the two countries.
She added that the Philippines eyes France as a like-minded partner in promoting regional stability and maintaining a rules-based international order. Meanwhile, Rear Adm. Jérôme Theillier, Head of International Security Affairs of the Directorate General for International Relations and Strategy, Ministry of the Armed Forces of France, reaffirmed France’s enduring commitment to the IndoPacific region. He underscored France’s intention to remain a reliable partner and a credible provider of security alongside its regional counterparts. Rex Anthony Naval
Electricity market operator sees spike in Visayas rates
By Lenie Lectura @llectura
ELECTRICITY spot market prices in the Visayas may shoot up to as much as P7 per kilowatt hour (kWh) in the summer months of 2026 from P5.29 per kWh last month, the Independent Electricity Market Operator of the Philippines (Iemop) said.
Iemop Vice President for Trading Operations Isidro Cacho Jr. explained that the Visayas is a net importer of power from Luzon and Mindanao so when interconnections from Mindanao and Luzon
are limited, it will be expensive for power plants to set prices in the area. Moreover, if there are additional unplanned power plant outages, the spot market prices may increase further.
“When it comes to the Visayas, it is dependent on Luzon and Mindanao. When there are forced outages in Luzon or Mindanao, these have an impact on the overall supply and we immediately see that the Visayas will be affected. I’m talking about summer months. Next year, our initial projections, we see around P6 to P7 per kWh,” said Cacho.
For Luzon and Mindanao, Cacho said WESM (Wholesale Electricity Spot Market) prices may also slightly go up in anticipation of increasing demand. The projections also factored in possible
forced plant outages that usually happen when demand is at its peak from April to June.
“For Luzon, it could be P4 to P5 per kWh. In Mindanao, average WESM prices may hit P5 to P6 per kWh,” he added.
The latest WESM rates in Luzon declined significantly to P3.52 per kWh owing to higher supply at 14,050 megawatt (MW) and lower demand at 9,598MW.
In Mindanao, average WESM prices dropped to P4.99 per kWh from P5.87 per kWh.
As a result, the average price of power on the WESM decreased by 12.4 percent to P3.98 kWh for the billing period October 26 to November 25.
Iemop is the operator of the WESM.
DA eyes farm roads in Mindanao
TBy Ada Pelonia @adapelonia
HE Department of Ag -
riculture (DA) wants to build farm-to-market road (FMR) projects in Mindanao and tap the region’s isolated farmlands.
With the DA set to take hold of the FMR program starting 2026, Agriculture Secretary Francisco Tiu Laurel Jr. said preparations are being carried out for roads that will cut through some of the country’s most promising but underutilized food production areas.
This includes wide tracts in Sultan Kudarat and the Liguasan Marsh, he said.
“Once we build it—like now—
we want to put P2 billion into a single road in Sultan Kudarat that will open up 32,000 to 35,000 hectares of new farmland,” Tiu Laurel was quoted in the statement as saying.
“These areas aren’t being used now because there’s simply no road,” he added.
Tiu Laurel noted that Liguasan Marsh could deliver an even larger “windfall” with up to 300,000 hectares recoverable once road networks are in place.
The DA said it also plans to reinforce these corridors with post-harvest facilities under the World Bank–funded Philippine Rural Development Project (PRDP).
The program will roll out cold storage units, dryers, silos, and
logistics links to ports and emerging agri-ports, which are crucial for lowering production costs and increasing farmer incomes.
To prepare for the transition, the DA recently created a farm to market road unit to ensure the development of the projects.
In addition, the agency said it also plans to roll out a transparency system featuring time-lapse cameras, a farm-to-market portal, and agreements with farmer cooperatives to help monitor project progress.
“It’s not rocket science to build a farm-to-market road,” Tiu Laurel said.
“But we need people’s help to monitor those projects. Technology will also help.”
Tiu Laurel, however, warned that politics will complicate the rollout of the road projects.
He added that politicians want a road in their constituency, even as the DA’s national master plan shows a 60,000-kilometer backlog and limited funding for only about 2,000 kilometers next year.
“It’s really a negotiation,” he noted. “We have to filter because the budget is never enough.”
Despite the constraints, the DA chief expressed confidence that Mindanao’s farm corridors are central to the country’s long-term food security.
“These roads are in front of the people. They will be used,” he said. “And once they open new farmlands, the whole country benefits.”
Caap vows to future-proof aviation industry
TBy Nonie Reyes
HE Civil Aviation Authority of the Philippines (Caap) has firmly committed to future-proof the aviation industry to meet evolving demands and cultivate the next generation of skilled pilots.
Caap’s commitment was reaffirmed during the Cebu Pacific Cadet Pilot Program Commencement Ceremony held on Wednesday in Lapu-Lapu City, Cebu.
Caap Director General Raul del Rosario bared the Authority’s ongoing initiatives to ensure the Philippine aviation sector is wellprepared for the future. He noted that this effort aligns directly with the directives set by President Marcos and Transportation Secretary Giovanni Lopez.
“We will continue to upgrade our systems, enhance our regulations, and invest in training and technology,” del Rosario said.
“Caap is working to ensure that our airports, air navigation sys -
The AFP deployed BRP Jose Rizal (FF150), three FA-50 “Fighting Eagle” fighter jets, three A-29B
tems, and compliance standards meet international benchmarks.”
He also took time to acknowledge the dedication and perseverance of the 20 cadets who successfully completed the rigorous training program.
“You are the future guardians of our airspace. Each flight you command will carry lives, stories, and dreams,” he told the graduates. “The confidence of every passenger will rest on your professionalism, integrity, and judgment.”
Super Tucano aircraft, one UH-60 “Black Hawk” helicopter and a PZL W-3A Sokol helicopter. For its part, the USIndopacom sent the guided missile destroyer USS Rafael Peralta (DDG-115), MH-60R “Seahawk” helicopters, and a P-8A “Poseidon” maritime patrol aircraft.
The recent MCA included the conduct of: division tactics (Divtacs) exercise, complex ship maneuvering exercise, night steaming in company (Nsic), flyby or low pass of aircraft and intercept and escort exercise.
The AFP said the joint maritime activity is “a testament to the strong and growing alliance between the two countries.”
“It reinforces shared commitments to maritime security, freedom of navigation, and a peaceful, stable Indo-Pacific region where the rights of all nations—big or small—are upheld,” it added.
IT-BPM leads office demand as market adjusts this year
By Bless Aubrey Ogerio
OFFICE leasing activity in the Philippines picked up in 2025 as the market recalibrated following the exit of Philippine offshore gaming operators (Pogos), with demand increasingly carried by the information technology and business process management (IT-BPM) sector, Leechiu Property Consultants (LPC) said.
In its latest “Philippine Market Report,” LPC said total office take-up reached about 1.22 million square meters (sqm) this year, up 10 percent from 1.11 million sqm in 2024. Q4 demand, likewise, rose to 244,000 sqm from 212,000 sqm a year earlier.
Nearly half of this year’s office demand, or 45 percent, came from IT-BPM firms, compared with 52 percent in 2024 when traditional office occupiers made up a larger share.
According to LPC, most leasing activity continued to be driven by companies expanding existing operations rather than relocating, with expansions accounting for 84 percent, or roughly 1.22 million sqm, of total demand in 2025.
Of the total expansion-driven demand, around 549,000 sqm came from IT-BPM firms. Further, about 68 percent of this was attributed to third-party providers, while 32 percent came from global capability centers (GCCs).
The remaining 671,000 sqm of demand came from other sectors, largely traditional offices at 84 percent, with smaller shares from Pogo-related firms at 5 percent and government offices at 11 percent.
“They’re already here, they’ve been here. If you see banks like JPMorgan and Wells Fargo, we’re seeing more of that type of BPOs setting up operations here, and specifically in healthcare and finance,” LPC commercial leasing director Mikko Baranda said during a media briefing.
“That is something we’re quite excited to see because it’s another potential evolution in space,” he added.
Baranda said both existing GCCs and newly established ones have been expanding their presence, noting that the Philippines has more than two decades of experience supporting such industries.
Geographically, Metro Manila continued to account for most office demand, with 948,000 sqm or 78 percent of total takeup. Bonifacio Global City (BGC) led Metro Manila locations with 218,000 sqm, or 23 percent, of demand, much of it coming from IT-BPM firms.
Provincial demand, on the other hand, reached 272,000 sqm, or 22 percent of total take-up, with Cebu accounting for 150,000 sqm, or more than one half of provincial demand. Business activity in provincial markets remained steady despite recent disruptions, including weather-related events, LPC said.
Despite an increase in vacant spaces, net demand rose by 13 percent to 476,000 sqm in 2025, from 422,000 sqm in 2024, again largely supported by IT-BPM occupiers.
Vacancy in Metro Manila stood at 18 percent, equivalent to 2.7 million sqm of available space. It remained lowest in BGC at 9 percent, or 191,000 sqm, and highest in the Bay Area at 28 percent, or 528,000 sqm.
LPC said there are about 350,000 sqm worth of upcoming leasing requirements, consisting of 24 percent in ongoing negotiations, 45 percent at the initial stage, and 31 percent under site selection.
He further commended Cebu Pacific for its foresight in pioneering the cadet program, which provides crucial and meaningful opportunities for young Filipinos aspiring to careers as airline pilots.
The Caap’s pledge underscores a strategic focus on modernization and training, aiming to solidify the Philippines’ position in regional and global aviation while ensuring the highest standards of safety and professionalism are maintained by its future airmen and airwomen.
Around 1.1 million sqm of new office space is expected to be added to market supply in 2026, although LPC projects this to drop by as much as 74 percent in 2027.
“We believe we need to appreciate that 1.2 million sqm of demand in the office market is, it is not small. It is still one of the markets with very active demand,” Baranda said. “As we go forward, it will be the first time in a long time that supply will start to drop.” In addition, Baranda said that historical trends over the past six years show consistent growth in office demand, even in years when expansion slowed.
DA sets goat, sheep importation
THE Department of Agriculture (DA) will import over 1,500 goats and at least 810 sheep as part of efforts to boost domestic herds.
To ensure these would arrive in the Philippines in good condition, Agriculture Secretary Francisco Tiu Laurel Jr. signed an order creating a team to facilitate the selection of breeder animals.
The team will assist in the selection of 1,520 heads of imported breeder goats and 810 heads of imported breeder sheep through the government’s goat and sheep expansion project.
Under the order, the selection team should ensure that the animals in the selection pool are fit for breeding and that these would benefit the government.
The team should also serve as witness to the weighing and eartagging of animals in the United
States and Australia. Furthermore, DA said the team should monitor and verify that the animals selected in the US and Australia are the same animals that arrived and quarantined in the Philippines.
The team also has the discretion to reject the animals that would be found unhealthy or not conforming with the requirements of the contract.
The order stipulates that Bureau of Animal Industry (BAI) Director Christian Daquigan will head the selection team.
In January, Agriculture Secretary Francisco Tiu Laurel Jr. approved the importation of 1,520 breeder goats and 4,310 sheep to upgrade local herds, particularly in Mindanao.
The goats will be distributed to nucleus and multiplier farms in Barili, Cebu, and Makilala, North Cotabato, while the sheep will be allocated for distribution in North Cotabato.
The animal shipments should be delivered within 90 days from the issuance of the notice of award by the agency’s flagship National Livestock Program (NLP).
“This importation is part of ongoing efforts to boost the Philippines’ livestock industry, ensuring better quality herds and more sustainable meat production in the future,” the DA said.
“Raising small ruminants such as goats and sheep could supplement farmers’ income, generate employment and support food security efforts.” Ada Pelonia
The animal shipments would help improve the genetic quality of local livestock and enhance the goat and sheep farming sectors, the DA said.
Mindanao opens own kidney transplant institute at SPMC
By Manuel T. Cayon @awimailbox
AVAO CITY—Mindanao
Dand the Visayas kidney patients have now their own facility near them after the Southern Philippines Medical Center Kidney and Transplant Institute (SKTI) was opened for operation at the country’s largest government hospital here.
The five-storey SKTI will have four operating rooms aided by the modern Da Vinci robots for surgery and with 74 beds for its patients.
The SKTI will also have a capacity of 100 beds in its dialysis center, with facilities for peritoneal dialysis, kidney transplant, an immunology laboratory, a urology department, nephrology training, pediatric nephrology, and nursing training for dialysis, the Philippine Information Agency said in its communication dispatch this week.
“We have one presidential room, 13 pay wards, 32 charity beds, 16 private ICU beds, one unit isolation, eight PACU Post-Anesthesia Care Unit [PACU], three operating, all in all ang beds namo diri is 74,”
Dr. Ricardo Audan, SPMC medical center director, said.
Audan said indigent or charity cases will be priority in the SKTI, with charity wards among the first to be opened at the institute.
“SPMC is for the people of Davao and Mindanao, and also for those charity cases. The SKTI will prioritize these cases and also those avail-
ing zero balance billing,” he added.
The SKTI was constructed at a cost of P1 billion along the SPMC complex along Dumanlas Road here and was opened for operation on November 28,
The SKTI is one of the 17 institutes in the SPMC.
The SKTI will have a 100-bed capacity dialysis center, facilities for peritoneal dialysis, kidney transplant, an immunology laboratory, a urology department, nephrology training, pediatric nephrology, and nursing training for dialysis.
“We have one presidential room, 13 pay wards, 32 charity beds, 16 private ICU beds, one unit isolation, eight PACU Post-Anesthesia Care Unit [PACU], three operating, all in all ang beds namo diri is 74,” Audan said.
“The SPMC Kidney and Transplant Institute is important because in our time, all of the laboratory work-up is sent to the NKTI in Quezon City,” said Louie Puracan, president of the Davao Kidney Institute.
“With the laboratory here, expenses will be lower and follow-up will be easier,” he added.
Dr. Maria Theresa Bad-ang, SKTI head, said the laboratory can perform tests for donor-recipient match for transplants and transplant recipient antibodies testing.
“There’s no need to send blood to Manila for tissue type. We can do the cross-matching here for the donor and recipient, so those in Mindanao can have their transplant here,” Bad-ang said.
HE Sandiganbayan has formally declared resigned Ako Bicol Party List representative Elizady “Zaldy” Co and three others as “fugitives from justice” following the cancellation of their Philippine passports.
In an eight-page resolution issued on December 10, the antigraft court’s Fifth Division noted that Co has failed to submit himself to the court’s jurisdiction since the issuance of a warrant of arrest and hold departure order (HDO) against him on November 21, 2025 in connection with the graft case filed against him.
Likewise, the Sandiganbayan said the prosecution was able to establish a pattern of non-compliance and avoidance that shows intent to evade prosecution by Co.
It noted that Co resigned as lawmaker instead of complying with the House to return to the country; his refusal to comply with subpoenas from the Independent Commission for Infrastructure; and his failure to file a counter-affidavit with the Office of the Ombudsman.
“His strategically timed flight, therefore, provides sufficient ground for the reasonable interference that his action constituted a deliberate attempt to flee from justice,” it said.
It also noted that Co is fullyaware of the cases and outstanding warrants against him since the National Bureau of Investigation and the Department of Interior and Local Government (DILG) have publicly called for his surrender.
“By consciously choosing to remain at large and not presenting himself to the authorities, accused Co is evading the legal process,” the resolution read.
“From the foregoing, the court finds that the factual circumstances presented warrant the cancellation of accused Co’s passport,” it added.
The cancellation of Co’s passport, according to the Sandiganbayan, is necessary to facilitate the enforcement of the arrest warrant against him.
The Supreme Court, under its recently-issued guidelines, defines a fugitive from justice as someone who not only flees after conviction to avoid punishment, but one who also flees after being charged to avoid prosecution.
with the P289.5 million anomalous flood control project in Naujan, Mindoro.
Nine of the accused have already surrendered and arraigned by the Sandiganbayan, while Co and eight others remain at large.
Aside from Co, the Fifth Division issued a separate resolution also ordering the cancellation of passports of Sunwest Construction and Development Corp., Aderma Angelie Alcazar, Cesar Buenaventura and Noel Cao.
Sunwest Corp. is the construction firm being linked to the family of Co and the contractor of the ghost flood control project in Naujan, Mindoro.
“Given the facts presented, accused’s actions of remaining-atlarge strongly suggest that they are actively avoiding the court’s jurisdiction to prevent arrest and prosecution,” it said.
The anti-graft court also declared Alcazar, Buenaventura, and Cao as fugitives from justice.
Palace taps Interpol to bring Co home after passport cancellation
DILG, Palace Press Officer Claire Castro, Co is suspected to be staying in Japan.
To prevent Co’s movement abroad, she said the government may ask Interpol to issue a Red Notice for the former lawmaker, who is currently facing malversation of public funds and graft charges for his supposed involvement in the P289.5-million road dike project anomaly in Oriental Mindoro.
The said case has prompted President Ferdinand Marcos and the Sandiganbayan to seek cancellation of Co’s Philippine passport. In its website, Interpol defined the Red Notice as a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
“If there is already a Red Notice [issued against him], he will be identified [abroad],” Castro said in Filipino.
Co went to the United States earlier this year to undergo a medical treatment, but he currently refused to return home citing supposed threats to his life after he was linked to flood control project irregularities.
at CIW
BuCor denies giving Guo special treatment
HE Bureau of Corrections
T(BuCor) on Thursday denied media reports insinuating that former Bamban Mayor Alice Leal Guo is being accorded preferential treatment while at the Correctional Institution for Women (CIW).
In a statement, BuCor Director General Gregorio Pio P. Catapang Jr. pointed out that Guo is currently serving a mandatory fiveday quarantine period following her transfer from the Bureau of Jail Management and Penology (BJMP) to CIW on the evening of December 6.
During her quarantine period, Catapang said only her lawyers are permitted to visit her in line with established health and security protocols, contrary to reports that she was visited by two “Chineselooking” men.
Catapang has denied the request Guo and two others to temporarily remain in the quarantine area for another 55 days.
The quarantine period for Guo, Jaimielyn Cruz and Rachelle Joan Carreon ends since they were transferred from the BJMP to CIW last December 6.
CIW Chief Superintendent Marjorie Ann Sanidad immediate transfer of Guo, Cruz and Carreon to a regular dormitory at the Reception Diagnostic Center (RDC) to undergo the mandatory orientation, diagnostic and classification in accordance with the established procedures and protocols.
Catapang explained that after completing the 60-day process at the RDC, they will be transferred to their assigned regular dormitory at the Maximum Security Camp, considering that they were sentenced to life imprisonment.
As newly committed persons deprived of liberty, the 55-day assessment period following the five-day quarantine is very important to help determine their psychological and physical needs, as this information will be used
by the institution to create an individualized treatment plan or program, Catapang said. Sanidad also attested that Guo, along with all inmates is subject to the same regulations and restrictions, with no special privileges afforded to her or any other individuals deprived of liberty.
Based on the CIW’s records, Guo’s lawyer Nicole D. Jamilla visited her on December 6 to 9 while lawyer Romar Cambri joined them on December 8.
Guo’s other lawyers, Marc Lester Mamuri and Cheska Mhey Dela Paz, also visited her on December 10.
Catapang and Sanidad also denied that Guo was allowed to possess a mobile phone as it is strictly prohibited in all prison facilities.
Such policy, according to Sanidad, is uniformly applied to everyone, including BuCor employees and personnel.
He added that no individual is allowed to bring or use a personal mobile device inside secured areas within the correctional facilities, including the quarantine area within the RDC compound.
“Given these measures, it is not possible for her to obtain or possess such a device,” Sanidad added.
The BuCor issued the statement following “malicious and unfounded” reports sent to media with no clear attribution or source, pertaining to possible special treatment of Guo after she was allegedly visited over the weekend by two men described as “Chinese-looking” on four separate occasions.
Guo, along with several other individuals, were sentenced to life imprisonment after they were found guilty of qualified human trafficking in connection with their alleged involvement in the illegal activities of a Philippine Offline Gaming Operators operator in her town.
Joel R. San Juan
“It is the Court’s view that the deliberate refusal to submit to the lawful authority of the court, unless his demands are met, confirms his clear intent to remain outside the jurisdiction of the court,” the Sandiganbayan said.
The anti-graft court also pointed out that Co left the country when investigations into alleged corruption in flood control projects were ongoing and formal charges against him were imminent.
The Court also declared that a fugitive is not entitled to any judicial relief due to lack of court’s jurisdiction over them.
Co left the country last July before the flood-control scandal broke out and has been in hiding since then.
The former solon and 17 others have been charged with graft and malversation through falsification of public documents before the Sandiganbayan in connection
FOLLOWING the cancellation of the Philippine passport of former Ako Bicol Party list representative Elizaldy “Zaldy” Co, Malacañang is now eyeing to bring him home by coordinating with the International Criminal Police Organization (Interpol) and the country where he is hiding.
This after the Department of the Interior and Local Government (DILG) earlier said that Co also has a Portuguese passport, which can allow him to travel to other countries.
Citing the latest info from
DMW champions rights-based migration governance at IOM Council in Geneva
THE Department of Migrant Workers (DMW) pushed for “rights-based, migrantcentered governance” at the recently concluded 116th Session of the International Organization for Migration (IOM) Council in Geneva, Switzerland.
DMW Secretary Hans J. Cacdac led the Philippine delegation at the event from Dec. 8 to 10, 2025.
“He emphasized that migration is a source of resilience and shared prosperity, underscoring the Philippines’ identity as a nation shaped by mobility,” DMW said in a statement.
In his meeting with IOM Director General Amy Pope, Cacdac reaffirmed Philippines’ strong support for the IOM and its mandate to promote safe, orderly, and regular migration.
The DMW chief also joined the High-level Panel on Migration and Development: Aligning Development Policy for Smarter Migration Outcomes, where he highlighted the importance of protecting the dignity and rights of each migrant throughout the entire migration cycle.
The IOM Council usually meets
once every year to review policies programs and activities, but it can hold special sessions in urgent circumstances.
At sidelines of the event, Cacdac held bilateral talks with ministers from Mali, Zimbabwe, and Lesotho on labor mobility, strengthening migrant protection, and improving technical cooperation.
While in Switzerland, he also met with Ambassador Bernard Faustino Dy to discuss new areas of cooperation to better protect and support overseas Filipino workers.
Samuel P. Medenilla
DSWD files charges against Iloilo City officials for AICS payout irregularities
THE Department of Social Welfare and Development (DSWD) on Thursday filed administrative charges at the Office of the Ombudsman against local officials in Iloilo City implicated in payout irregularities under the Assistance to Individuals in Crisis Situation (AICS) program.
The filing follows a report submitted on November 12 by DSWD Field Office (FO) 6-Western Visayas, which documented multiple complaints from AICS beneficiaries. The report alleged that certain local officials unlawfully withheld P8,000 from recipients during the AICS distribution on November 11, 2025, leaving only P2,000 for the intended beneficiaries.
DSWD Secretary Rex Gatchalian condemned the reported acts of corruption, stressing that fraudu-
lent practices will not be tolerated under his leadership. He reiterated the department’s commitment to protecting the integrity of its social protection programs and ensuring that assistance reaches the rightful recipients in full.
Echoing the DSWD’s stance, Rep. Julienne Baronda of the Lone District of Iloilo City commended the filing of charges and called for further accountability.
“I commend the DSWD, under Secretary Rex Gatchalian, for taking decisive action against those allegedly responsible for defrauding AICS beneficiaries in Iloilo City,” Baronda said. “Those involved— including the masterminds behind the scheme—must also be held criminally liable.”
Baronda urged the DSWD to investigate similar incidents that oc-
curred in 2024 and encouraged other victims, as well as residents whose names may have been used to claim AICS without their knowledge, to come forward and file complaints at DSWD Regional Field Office-6.
“To the victims, we stand firmly behind you. Do not be afraid. Remain steadfast,” Baronda added. Gatchalian led the filing of the complaint which seeks the immediate investigation and subsequent filing of criminal and administrative charges against the local officials for grave misconduct, violation of Section 3(e)of the Anti-Graft and Corrupt Practices Act, Abuse of Authority under Section 60(e), Chapter IV, Title II, Book I of the Republic Act 7160, and Section 4(c) of Republic Act 6713.
Aside from Japan, DILG said Co was also spotted in France, Spain, Portugal, Singapore, and Japan. Castro said the government will consider coordinating with the said countries for Co’s repatriation.
“Because what the President really wants is to return Zaldy Co to the Philippines,” Castro said.
“If he has a [Portuguese] passport, we think we can contact the said country [where he’s hiding] and if this country is a member of Interpol, we know that they will contact us,” Castro said.
Palace debunks fake memo claiming added December holidays for government workers
MALACAÑANG has denied issuing a new memorandum circular declaring extending two additional holidays this month to extend the Christmas long weekend for government workers.
Acting Executive Secretary Ralph G. Recto told Palace reporters he did not issue Memorandum Circular (MC) No. 47, which is circulating online, suspending government offices nationwide on December 28 and December 29. “It’s fake,” he said. The spurious document dated 10 December 2025 claimed that the “extended break aims to promote work-life balance and support the emotional and social wellness of public servants.” Under Proclamation No. 727, series of 2024, which contained the official list of holidays this year, the remaining scheduled regular holidays for this month are Christmas Day (December 25) and Rizal Day (December 30). The same issuance declared Christ -
Legislator urges tighter immigration monitoring
By Jovee Marie N. dela Cruz @joveemarie
AN assistant majority leader of the House of Representatives on Thursday called for tighter immigration monitoring after personalities implicated in alleged multibillion-peso anomalies in flood-control projects started leaving the country.
Las Piñas Rep. Mark Anthony Santos confirmed that the embattled contractor-politician Carlo Aguilar has fled to Japan and is now in the United States.
Santos said immigration records show Aguilar departed for Tokyo on November 19 before proceeding to the US, just days after a key Senate testimony exposed an alleged kickback scheme involving senior Department of Public
Works and Highways (DPWH) officials.
The lawmaker said the Department of Justice (DOJ) should now issue an immigration lookout bulletin order (Ilbo) against Aguilar and other individuals, warning that more personalities may attempt to slip out of the country as the investigation widens.
“Aguilar left shortly after the revelations and has not
returned since. This underscores the urgency of placing him and other involved parties under an immigration lookout,” Santos said.
Former public works undersecretary Roberto Bernardo had told senators that commissions from floodcontrol projects were allegedly divided among Aguilar (50 percent), former public works undersecretary Cathy Cabral
Legislator: Spread of false information a form of corruption
ASENIOR lawmaker on Thursday
denounced purveyors of fake news, calling the spread of false information a modern form of corruption that erodes Filipinos’ right to accurate information, and urged the youth to lead the fight against misinformation by promoting integrity and responsible digital engagement.
Navotas City Rep. Toby Tiangco urged young Filipinos to take an active role in combating misinformation, emphasizing that the youth should be at the forefront of promoting integrity and responsible engagement in the digital space.
In line with International AntiCorruption Day, he also encouraged the youth to unite and fight corruption using
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modern technology and digital tools like blockchain and artificial intelligence.
“The youth are leading the push for digital transformation. I trust their ability to develop innovative solutions to enhance government transparency, strengthen public access to information, and protect whistleblowers exposing wrongdoing,” he said.
Tiangco pushed for the passage of his proposed measure, which seeks to give the Independent Commission for Infrastructure (ICI) more teeth to investigate and hold accountable those involved in anomalous flood control projects.
According to Tiangco, his House Bill 5699 will help make ICI investigations
Residential market IN the residential segment, LPC reported a total of 775,400 condominium units in Metro Manila. Of these, about 623,000 are ready-for-occupancy units, with 96 percent already sold, while around 143,000 are pre-selling units, 62 percent of which have been taken up. Condominium demand this year reached about 24,732 units, valued at roughly P11 million, down 3 percent from the previous year. New project launches fell sharply by 60 percent year on year to 5,256 units.
LPC said there are currently about 80,300 available units across 578 actively selling condominium buildings, equivalent to about three and a half
and the filing of cases faster and more effective.
Under the proposal, the ICI will be transformed into the Independent Commission Against Infrastructure Corruption (Icaic) and will be granted the authority to file cases, issue subpoenas and hold departure orders, and conduct broader investigations.
It was Tiangco who discovered and revealed the presence of insertions in the 2025 national budget following a meeting in Malacañang on March 24, where he was asked to present a list of projects reportedly endorsed by lawmakers.
Wanting to ensure accuracy and transparency, he said he personally
years’ worth of supply. This includes 26,400 ready-for-occupancy units and 53,900 pre-selling units.
The firm noted that fewer speculative buyers have slowed primary market sales, while sellers of units from the Pogo period are competing in the secondary market through more aggressive pricing, further dampening absorption.
Housing demand remains concentrated in Calabarzon, Metro
verified the projects by cross-checking the proponents with the districts where they would be implemented.
From that exercise, Tiangco said he discovered and revealed that then Ako Bicol Party-list Rep. Zaldy Co made the single biggest insertion—P13.8 billion worth of DPWH projects in different parts of the country.
Tiangco, meanwhile, accused certain private individuals and social media personalities of deliberately circulating false stories to damage his reputation.
“Some private individuals and social media personalities are corrupt. They spread fake news to make money. They are thieves of truth,” he said.
Marie N. dela Cruz
Jovee
Manila and Central Luzon, though LPC said current housing production does not align with actual needs.
Data from the Department of Human Settlements and Urban Development show a housing backlog of 10.65 million units as of 2024, with an average output of about 282,000 units per year projected until 2030, rising to an average of 1.6 million units annually from 2031 to 2040.
(25 percent), and himself (25 percent). Bernardo also identified Aguilar as the supposed “bagman” for a former public works secretary from 2016 to 2021.
Santos said reliable sources tracked Aguilar to a Filipino friend’s residence in San Diego, California, in late November, before he reportedly moved to Greendale, Wisconsin.
Also, former public works
secretary Manuel Bonoan is now in the United States to accompany his wife, who is set to undergo a medical procedure.
Earlier, the Independent Commission for Infrastructure (ICI) requested the DOJ to issue immigration lookouts against several individuals implicated in its ongoing investigation into anomalous flood-control projects.
DOJ eyes more charges vs Atong Ang
THE Department of Justice (DOJ) on Thursday said more charges may be filed against those implicated in the missing “sabungero” (cockfight aficionados) case including businessman Charlie “Atong” Ang.
Prosecutor General Richard Anthony Fadullon said another preliminary investigation may be conducted in at least one case already pending before the Regional Trial Court in Manila involving incidents at the Manila Arena.
“Pwede pa siyang [Ang] masama doon, kaya lang kailangan magkaroon muna ng preliminary investigation at malaman talagang merong ebidensya patungkol sa kanya na magiging basehan para siya ay masama doon sa kaso [Ang may still be included in the case, but a preliminary investigation has to be conducted to see if there is indeed evidence to charge him],” Fadullon said. Fadullon also clarified that the filing of
criminal informations in connection with 26 counts of kidnapping with homicide and kidnapping with serious illegal detention will be completed by next week. There is no bail recommended for the temporary liberty of persons named in those charges, he said.
“Informations are currently being prepared because there are quite a number of informations that will have to be filed in various courts. It will be filed in different jurisdictions. These will be in Batangas, Laguna and there is also in Parañaque,” he said.
Fadullon’s statement clarified the DOJ’s earlier press statement that 10 counts of kidnapping with homicide were filed Tuesday in three different courts— the Regional Trial Court (RTC) of Lipa City, RTC-Sta. Cruz, Laguna and RTC-San Pablo, Laguna were filed against Ang and 21 others for their alleged part in the deaths of the missing sabungeros. PNA
Group launches anti-scam training project
SCAM Watch Pilipinas piloted its “On-the-Go Anti-Scam Training Roadshow” in Parañaque City as part of the civilian cybersecurity group’s efforts to strengthen community-level defenses against online fraud.
In a statement on Thursday, Scam Watch Pilipinas co-founder Jocel de Guzman said Parañaque was selected as the program’s inaugural site because of the city government’s willingness and commitment to fight scams at the grassroots level.
“This is our first on-ground rollout, made possible through the strong support of the Parañaque City government under Mayor Edwin Olivarez,” de Guzman said.
The program aims to bring scam prevention training directly into communities – from barangays to local organizations – to establish an anti-scam reporting desk in every barangay hall.
“If someone needs to report a scam, they can immediately call for help through 1326 and the CICC. The goal is to make scam prevention accessible and part of everyday community life,” he said.
The anti-scam training roadshow began on December 5, with 103 Parañaque City employees so far completing the program’s behavior-based anti-scam training.
DSWD. . .
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Gatchalian said the complaints covered the payouts on Nov. 7, 11, and 12 in 16 barangays in the city. Although there are only 14 beneficiaries who came forward to complain, the DSWD secretary noted that the modus operandi could be wide scale based on the number of barangays involved and the pattern in terms of the amount being taken away from the beneficiaries.
During those payouts, Gatchalian said there were 2,160 beneficiaries and the total cash assistance released by the DSWD was P21.6 million.
Gatchalian narrated that the complainant-beneficiaries were forced to hand over the amount of P8000 to P9000 out of the P10,000 financial assistance that they were supposed to receive.
“It looks like their process is systemic— they would impose the same kind of fee on the beneficiaries from different barangays that’s why they got exposed.”
These city employees now serve as volunteer watchers and front-line advocates who help families and barangay communities in detecting, resisting, and reporting fraudulent activities.
During the event, Olivarez highlighted the importance of the program in combating online scams as a day-to-day problem of the average Filipino.
“Our partnership with Scam Watch Pilipinas is the first step in educating Parañaqueños across various sectors and barangays. We are proud to be the first city to host this Anti-Scam Training Roadshow,” he said. The roadshow is led by Scam Watch Pilipinas and supported by the Cybercrime Investigation and Coordinating Center (CICC), National Police (PNP) Anti-Cybercrime Group, Whoscall-Gogolook Philippines, Meta, WiSAP, Bayan Academy, the Global AntiScam Alliance (Gasa), and the Parañaque Public Information Office.
After the roadshow, Scam Watch eyes a broader nationwide rollout of community-based anti-scam education to empower more Filipinos to become vigilante defenders against online fraud. PNA
“The victims were re-victimized because when you go to the DSWD, you’re already going through crisis, you’re already a victim of circumstances. But here, it was the people in authority who re-victimized them,” Gatchalian lamented. Among those involved in the illegal acts were barangay captains, council members, treasurers and appointed officials.
A preventive suspension order, according to Gatchalian, may be necessary to prevent the involved barangay officials from harassing the complainant-beneficiaries.
“Hopefully, this sends a strong signal that the aid or financial assistance is for the beneficiaries. No one is allowed to take a cut, no one is allowed to interfere, no matter who you are, even if you’re an elected official,” Gatchalian said.
“That money is for the victims or for our clients. Hopefully, this sends a strong signal that wherever you are, don’t even think about trying anything because we take this very seriously,” he added. Jovee Marie N. Dela Cruz & Joel San Juan
Editor: Angel R. Calso
Fed cuts rate by quarter-point, hints at pause in easing cycle
By Christopher Rugaber AP Economics Writer
WASHINGTON—The Federal Reserve reduced its key interest rate by a quarter-point for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months.
The cut decreased the Fed’s rate to about 3.6%, the lowest it has been in nearly three years. Lower rates from the Fed can bring down borrowing costs for mortgages, auto loans, and credit cards over time, though market forces can also affect those rates.
Chair Jerome Powell suggested at a news conference that after six rate cuts in the past two years, the central bank can step back and see how hiring and inflation develop. In a set of quarterly economic projections, Fed officials signaled they expect to lower rates just once next year.
Fed officials “will carefully evaluate the incoming data,” Powell said, adding that the Fed is “well positioned to wait to see how the economy evolves.”
The chair also said that the Fed’s key rate was close to a level that neither restricts nor stimulates the economy, a significant shift from earlier this year, when he described the rate as high enough to slow the economy and quell inflation. With rates closer to a more neutral level, the bar for further rate cuts is likely higher that it was this fall.
“We believe the labor market will have to noticeably weaken to warrant another rate cut soon,” said Ryan Sweet, global chief economist at Oxford Economics.
Three Fed officials dissented from the move, the most dissents in six years and a sign of deep divisions on a committee that traditionally works by consensus. Two officials voted to keep the Fed’s rate unchanged: Jeffrey Schmid, president of the Kansas City Fed, and Austan Goolsbee, president of the Chicago Fed. Stephen Miran, whom Trump appointed in September, voted for a half point cut.
December’s meeting could usher in a more contentious period for the Fed. Officials are split between those who support reducing rates to bolster
hiring and those who’d prefer to keep rates unchanged because inflation remains above the central bank’s 2 percent target. Unless inflation shows clear signs of coming fully under control, or unemployment worsens, those divisions will likely remain.
“What you see is some people feel we should stop here and we’re in the right place and should wait, and some people think we should cut more next year,” Powell said.
A stark sign of the Fed’s divisions was the wide range of cuts that the 19 members of the Fed’s rate-setting committee penciled in for 2026. Seven projected no cuts next year, while eight forecast that the central bank would implement two or more reductions. Four supported just one. Only 12 out of 19 members vote on rate decisions.
President Donald Trump on Wednesday criticized the cut as too small, and said he would have preferred “at least double.” Trump could name a new Fed chair as soon as later this month to replace Powell when his term ends in May. Trump’s new chair is likely to push for sharper rate cuts than many officials will support.
Stocks jumped in response to the Fed’s move, in part because some Wall Street investors expected Powell to be more forceful in shutting down the possibility of future cuts. The broad S&P 500 stock index rose 0.7 percent and closed near an all-time high reached in October.
Powell was also optimistic about the economy’s growth next year, and said that consumer spending remains resilient while companies are still investing in artificial intelligence infrastructure. He also suggested growing worker efficiency could contribute to faster growth without more inflation. Still, Powell said the committee reduced borrowing costs out of concern that the job market is even weaker than it appears. While government
data shows that the economy has added just 40,000 jobs a month since April, Powell said that figure could be revised lower by as much as 60,000, which would mean employers have actually been shedding an average of 20,000 jobs a month since the spring.
“It’s a labor market that seems to have significant downside risks,” Powell told reporters. “People care about that. That’s their jobs.”
The Fed met against the backdrop of elevated inflation that has frustrated many Americans, with prices higher for groceries, rents, and utilities. Consumer prices have jumped 25% in the five years since Covid.
“We hear loud and clear how people are experiencing really high costs,” Powell said Wednesday. “A lot of that isn’t the current rate of inflation, a lot of that is embedded high costs due to higher inflations in 2022-2023.”
Powell said inflation could move higher early next year, as more companies pass tariff costs to consumers as they reset prices to start the year. Inflation should decline after that, he added, but it’s not guaranteed.
“We just came off an experience where inflation turned out to be much more persistent than anyone expected,” he said, referring to the spike in 2022. “Is that going to happen now? That’s the risk.”
The Fed’s policy meeting took place as the Trump administration moves toward picking a new Fed chair to replace Powell when his term finishes in May. Trump’s nominee is likely to push for sharper rate cuts than many officials may support.
Trump has hinted that he will likely pick Kevin Hassett, his top economic
adviser. But on Wednesday, Trump said he would meet with Kevin Warsh, a former Fed governor who has also been on the short list to replace Powell.
Trump added that he wants someone who will lower interest rates. “Our rates should be the lowest rates in the world,” he said.
A government report last week showed that overall and core prices rose 2.8 percent in September from a year earlier, according to the Fed’s preferred measure. That is far below the spikes in inflation three years ago but still painful for many households after the big run-up since 2020.
Adding to the Fed’s challenges, job gains have slowed sharply this year and the unemployment rate has risen for three straight months to 4.4%.
While that is still a low rate historically, it is the highest in four years. Layoffs are also muted, so far, as part of what many economists call a “low hire, low fire” job market.
The Fed typically keeps its key rate elevated to combat inflation, while it often reduces borrowing costs when unemployment worsens to spur more spending and hiring.
Powell will preside over only three more Fed meetings before he steps down. On Wednesday, he was asked about his legacy.
“I really want to turn this job over to whoever replaces me with the economy in really good shape,” he said. “I want inflation to be under control, coming back down to 2%, and I want the labor market to be strong.”
Associated Press Writers Collin Binkley and Alex Veiga in Los Angeles contributed to this report.
Denmark plans to ban social media for under-15s, following Australia
CBy James Brooks The Associated Press
OPENHAGEN, Denmark—As Australia began enforcing a world-first social media ban for children under 16 years old this week, Denmark is planning to follow its lead and severely restrict social media access for young people.
The Danish government announced last month that it had secured an agreement by three governing coalition and two opposition parties in parliament to ban access to social media for anyone under the age of 15. Such a measure would be the most sweeping step yet by a European Union nation to limit use of social media among teens and children.
The Danish government’s plans could become law as soon as mid-2026. The proposed measure would give some parents the right to let their children access social media from age 13, local media reported, but the ministry has not yet fully shared their plans. Many social media platforms already ban children younger than 13 from signing up, and an EU law requires Big Tech to put measures in place to protect young people from online risks and inappropriate content. But officials and experts say
such restrictions don’t always work.
Danish authorities have said that despite the restrictions, around 98% of Danish children under age 13 have profiles on at least one social media platform, and almost half of those under 10 years old do.
The minister for digital affairs, Caroline Stage, who announced the proposed ban last month, said there is still a consultation process for the measure and several readings in parliament before it becomes law, perhaps by “mid to end of next year.”
“In far too many years, we have given the social media platforms free play in the playing rooms of our children. There’s been no limits,” Stage said in an interview with The Associated Press last month.
“When we go into the city at night, there are bouncers who are checking t he age of young people to make sure that no one underage gets into a party that they’re not supposed to be in,” she added. “In the digital world, we don’t have any bouncers, and we definitely need that.”
Mixed reactions UNDER
lian dollars ($33 million) if they fail to take reasonable steps to remove accounts of Australian children younger than 16.
Some students say they are worried that similar strict laws in Denmark would mean they will be losing touch with their virtual communities.
“I myself have some friends that I only know from online, and if I wasn’t fifteen yet, I wouldn’t be able to talk with those friends,” 15-yearold student Ronja Zander, who uses Instagram, Snapchat and TikTok, told the AP.
Copenhagen high school student Chloé Courage Fjelstrup-Matthisen, 14, said she is aware of the negative impact social media can have, from cyberbullying to seeing graphic content. She said she saw video of a man being shot several months ago.
“The video was on social media everywhere and I just went to school and then I saw it,” she said.
Line Pedersen, a mother from Nykøbing in Denmark, said she believed the plans were a good idea.
“I think that we didn’t really realize what we were doing when we gave our children the telephone and social media from when they were eight, ten years old,” she said. “I don’t quite think that the young people know what’s
Mexico’s Congress approves tariff hikes of up to 50% on
Chinese imports amid US pressure
EXICO CITY—Mexi -
Mco’s Congress approved Wednesday most of the tariff increases proposed by the government on more than 1,400 products imported from China and other countries that do not have free trade agreements with Mexico.
The Senate passed the measure Wednesday evening, following the lower chamber, which had approved the increases before dawn. The governing Morena party of President Claudia Sheinbaum, who said the tariffs were necessary to spur domestic production, controls both chambers.
The Senate passed the legislation with 76 votes in favor, five against and 35 abstentions.
Analysts say the real motivation is ongoing negotiations with Washington, Mexico’s most important trading partner. Sheinbaum has been trying to find relief from remaining tariffs imposed on Mexican imports by the Trump administration, which has accused China of using Mexico as a backdoor into the US market.
Tariff increases of as much as 50% will affect textiles, shoes, appliances, cars and auto parts among other things beginning in January.
China will be the most affected as Mexico imported $130 billion worth of products from the country in 2024, second only to what Mexico bought from the United States. The Chinese government was critical of the proposed tariff increases when they were announced in September.
“The real reason has to do with the United States, it has to do with the review of the USMCA (free trade agreement) that is coming up, with the negotiations to obtain reductions, exemptions from the tariffs that Mexico is facing at this moment to access the US market,” said Oscar Ocampo, director of economic development at the Mexican Institute for Competitiveness. Mexico still faces US tariffs on the automotive sector, steel and aluminum. But Ocampo said Mexico was bending to an unpredictable US President Donald Trump and changing its commercial policy “in the wrong direction.” He said the government was creating problems for a number of sectors, including auto parts, plastics, chemicals and textiles, because the tariffs will create disruptions in supply chains and could push inflation up at a time when the economy is slowing.
Congress targets China with new restrictions in massive defense bill
By Didi Tang The Associated Press
WASHINGTON—The Trump administration may have softened its language on China to maintain a fragile truce in their trade war, but Congress is charging ahead with more restrictions in a defense authorization bill that would deny Beijing investments in highly sensitive sectors and reduce US reliance on Chinese biotechnology companies.
Included in the 3,000-page bill approved Wednesday by the House is a provision to scrutinize American investments in China that could help develop technologies to boost Chinese military power. The bill, which next heads to the Senate, also would prohibit government money to be used for equipment and services from blacklisted Chinese biotechnology companies.
In addition, the National Defense Authorization Act would boost US support for the self-governing island of Taiwan that Beijing claims as its own and says it will take by force if necessary.
normal, what’s not normal.”
Age certificate likely part of the plan
DANISH officials are yet to share how exactly the proposed ban would be enforced and which social media platforms would be affected.
However, a new “digital evidence” app, announced by the Digital Affairs Ministry last month and expected to launch next spring, will likely form the backbone of the Danish plans. The app will display an age certificate to ensure users comply with social media age limits, the ministry said.
“One thing is what they’re saying and another thing is what they’re doing or not doing,” Stage said, referring to social media platforms. “And that’s why we have to do something politically.”
Some experts say restrictions, such as the ban planned by Denmark, don’t always work and they may also infringe on the rights of children and teenagers.
“To me, the greatest challenge is actually the democratic rights of these children. I think it’s sad that it’s not taken more into consideration,” said Anne Mette Thorhauge, an associate professor at the University of Copenhagen.
“Taken together, these measures reflect a serious, strategic approach to countering the Chinese Communist Party,” said Rep. Raja Krishnamoorthi, the top Democrat on the House Select Committee on the Chinese Communist Party. He said the approach “stands in stark contrast to the White House’s recent actions.”
Congress moves for harsher line toward China
THE compromise bill authorizing $900 billion for military programs was released two days after the White House unveiled its national security strategy. The Trump administration dropped Biden-era language that cast China as a strategic threat and said the US “will rebalance America’s economic relationship with China,” an indication that President Donald Trump is more interested in a mutually advantageous economic relationship with Beijing than in long-term competition.
The White House this week also allowed Nvidia to sell an advanced type of computer chip to China, with those more hawkish toward Beijing concerned that would help boost the country’s artificial intelligence.
The China-related provisions in the traditionally bipartisan defense bill “make clear that, whatever the White House tone, Capitol Hill is locking in a hard-edged, long-term
competition with Beijing,” said Craig Singleton, senior director of the China program at the Foundation for Defense of Democracies, a Washingtonbased think tank. If passed, these provisions would “build a floor under US competitiveness policy—on capital, biotech, and critical tech—that will be very hard for future presidents to unwind quietly,” he said.
The Chinese embassy in Washington on Wednesday denounced the bill.
“The bill has kept playing up the ‘China threat’ narrative, trumpeting for military support to Taiwan, abusing state power to go after Chinese economic development, limiting trade, economic and people-to-people exchanges between China and the US, undermining China’s sovereignty, security and development interests and disrupting efforts of the two sides in stabilizing bilateral relations,” said Liu Pengyu, the embassy spokesperson.
“China strongly deplores and firmly opposes this,” Liu said. US investments in China US policymakers and lawmakers have been working for several years toward bipartisan legislation to curb investments in China when it comes to cutting-edge technologies such as quantum computing, aerospace, semiconductors and artificial intelligence. Those efforts flopped last year when Tesla CEO Elon Musk opposed a spending bill.
Musk has extensive business interests in China, including a Tesla gigafactory in the eastern city of Shanghai.
The provision made it into the must-pass defense policy bill, welcomed by Rep. John Moolenaar, a Michigan Republican who chairs the House Select Committee on the Chinese Communist Party.
“For too long, the hard-earned money of American retirees and investors has been used to build up China’s military and economy,” he said. “This legislation will help bring that to an end.”
Biosecurity protections
CONGRESS last year failed to pass the BIOSECURE Act, which cited national security in preventing federal money from benefiting a number of Chinese biotechnology companies. Critics said then that it was unfair to single out specific companies, warning that the measure would delay clinical trials and hinder development of new drugs, raise costs for medications and hurt innovation.
FEDERAL Reserve Chair Jerome Powell speaks at the Federal Reserve, Wednesday, Dec. 10, 2025, in Washington. AP PHOTO/JACQUELYN MARTIN
Civilians killed as Thailand-Cambodia border war resumes, breaking Trump-brokered truce
By Jerry Harmer & Jintamas Saksornchai
The Associated Press
URIN, Thailand—Three
SThai civilians were killed as heavy combat continued along the country’s border with Cambodia, the Thai military said Thursday, marking the country’s first civilian fatalities since the fighting resumed.
The latest large-scale fighting was set off by a skirmish on Sunday that wounded two Thai soldiers and derailed a ceasefire pushed by US President Donald Trump that ended five days of combat in July over longstanding territorial disputes.
About two dozen people have been reported killed in the latest fighting, while hundreds of thousands have been displaced on both sides of the border and relocated to temporary shelters or moved to stay with relatives.
A Thai Army statement said Cambodia on Wednesday night launched an attack with artillery and mortars against Thai positions, to which it replied with the same kinds of heavy weapons, causing damage including “the destruction of enemy trucks.” Cambodia’s Fresh News online news site, which closely reflects government positions, said artillery duels were continuing Thursday morning.
The combat has drawn international concern, including from Pope Leo XIV, who told an audience at the Vatican that he was “deeply saddened by the news of the renewed conflict.”
“There have been casualties, including among civilians, and thousands of people have been forced to leave their homes. I express my closeness in prayer to these dear peoples,” he said on Wednesday.
Trump says he will urge sides to return to ceasefire
The original ceasefire in July was brokered by Malaysia and pushed through by pressure from Trump, who threatened to withhold trade privileges unless Thailand and Cambodia agreed. It was formalized in more detail in October at a regional meeting in Malaysia that Trump attended.
Despite the deal to stop fighting, the two countries carried on a bitter propaganda war and minor crossborder violence continued. Cambodia complained that Thailand did not return 18 soldiers it captured as the ceasefire was coming into effect, while Thailand protested after soldiers patrolling the frontier were wounded by land mines, which it alleges were newly laid by Cambodia. Cambodia insisted that the mines were left over from its decades of civil war that ended in 1999.
Trump said he expects to speak by phone with the two leaders on Thursday, and expressed confidence that he would persuade the two sides, once again, to stop the fighting.
“I think I can get them to stop fighting. Who else can do that?” Trump said on Wednesday in an exchange with reporters, in which he also repeated his exaggerated claim of settling eight wars around the globe since his return to the White House. “Every once in a
while, one will flame up again and I have to put out that little flame.”
The US had yet to contact Thailand following Trump’s latest remarks, Thai Prime Minister Anutin Charnvirakul told reporters in Bangkok on Thursday.
Anutin, reflecting nationalistic public sentiment, has repeatedly vowed to continue fighting until Thailand’s sovereignty and security are assured.
In remarks on Wednesday, he did not seem to rule out negotiations with Cambodia, but said he would not do so simply at the request of Trump.
Rivals exchange strikes
THAILAND has deployed jet fighters to carry out airstrikes on what it says are military targets. Cambodia has deployed BM-21 rocket launchers with a range of 30-40 kilometers (19-25 miles).
According to data collected by public broadcaster ThaiPBS, at least six of the Thai soldiers who were killed were hit by rocket shrapnel.
The Thai army’s northeastern regional command said Cambodian forces on Wednesday had by mid-afternoon fired 79 BM-21 salvos with 3,160 rockets, used artillery 122 times and employed bomb-dropping drones in 63 attacks. It said a hospital in Surin province was evacuated after rockets hit about 500 meters (550 yards) away.
The Thai army also said it destroyed a tall crane atop a hill held by Cambodia where the centuriesold Preah Vihear temple is located, because it allegedly held electronic
and optical devices used for military command and control purposes.
Thailand’s military announced Thursday that the dead include nine soldiers, as well as three civilians, whose deaths they said occurred as they were being evacuated. It also said that more than 120 troops have been wounded.
Cambodia has said nine civilians have died, including a baby, and 46 others have been wounded.
An ancient temple sits at the heart of the dispute
THE UN’s cultural agency, UNESCO, on Wednesday expressed its “strong concern” over fighting in the vicinity of the Preah Vihear temple, which it has designated a World Heritage site.
“UNESCO stands ready to provide the necessary technical assistance to ensure the protection of cultural property and implement any necessary safeguarding measures as soon as conditions allow,” it said.
The roots of the Thai-Cambodian border conflict lie in a history of enmity over competing territorial claims. These claims largely stem from a 1907 map created while Cambodia was under French colonial rule, which Thailand maintains is inaccurate. Tensions were exacerbated by a 1962 International Court of Justice ruling that awarded sovereignty to Cambodia, which still riles many Thais.
Sopheng Cheang in Srei Snam, Cambodia, Wasamon Audjarint in Bangkok and Matthew Lee and Aamer Madhani in Washington contributed to this report.
Former Bolivian President Arce arrested in corruption probe
By Carlos Valdez & Isabel Debre
The Associated Press
LA PAZ, Bolivia—Bolivian law enforcement officials on Wednesday arrested former President Luis Arce as part of a corruption investigation, opening an uncertain chapter in the country’s politics a month after the inauguration of conservative President Rodrigo Paz ended 20 years of socialist rule.
A senior official in Paz’s government, Marco Antonio Oviedo, told reporters that Arce had been arrested on charges of breach of duty and financial misconduct related to the alleged embezzlement of public funds during his stint as economy minister in the government of charismatic former leader Evo Morales (2006-2019).
A special police force dedicated to fighting corruption confirmed to The Associated Press that Arce was in custody at the unit’s headquarters in Bolivia’s capital of La Paz. Officials described Arce’s arrest as proof of the new government’s commitment to fighting graft at the highest levels in fulfillment of its flagship campaign promise.
“It is the decision of this government to fight corruption, and we will arrest all those responsible for this massive embezzlement,” Oviedo said. But underlining the country’s polariza -
tion, Arce’s allies said his arrest was unjustified and smacked of political persecution.
Accusations of theft from a fund for rural peasants AUTHORITIES accused Arce and other officials of diverting an estimated $700 million from a state-run fund dedicated to supporting the Indigenous people and peasant farmers who formed the backbone of Morales’ Movement Toward Socialism party. As Bolivia’s first Indigenous president, Morales transformed the country’s power structure and gave Indigenous people more sway than ever.
Serving on the board of directors of the Indigenous Peasant Development Fund from 2006 to 2017, Arce was in charge of allocating funds to social development projects in rural areas. During that time, officials allege, Arce siphoned off some of that money for personal expenses.
“Arce was identified as the main person responsible for this vast economic damage,” said Oviedo.
Bolivia’s attorney general, Roger Maria ca, told local media that Arce had invoked his right to remain silent during police questioning.
He said Arce would remain in police custody overnight before being brought before a judge to determine whether he will remain detained pending trial. The charges
against Arce carry a maximum sentence of 4-6 years in prison.
An ex-president allegedly grabbed from the street ARCE’S key ally and former government minister, Maria Nela Prada, insisted on the ex-president’s innocence and denounced the corruption scandal as a case of political persecution.
Although the prosecution said it issued an arrest warrant, she said Arce was not notified of the case before he was bundled into a minivan with tinted windows in an upscale La Paz neighborhood on Wednesday and brought in for interrogation.
Arce had been walking along the cafelined streets of Sopocachi after teaching an economics class at a major public university, Prada said, and managed to tell her of his arrest before losing communication. A police spokesperson did not immediately respond to a request for comment on that account of events.
“This is a total abuse of power,” Prada said, banging furiously on the doors of the police headquarters where Arce was being held.
Mariaca, the prosecutor, promised the case was about nothing more than tackling graft in Bolivia.
“This is not persecution, nor is it a political act,” he said.
Paz swept to victory in October elec-
tions on a wave of public outrage over the unmitigated shambles that Arce’s administration bequeathed its successors, including sky-high inflation, a shortage of fuel and empty state coffers.
Critical to his popularity was his running mate, the straight-talking, TikTok-savvy former police Capt. Edman Lara, who achieved celebrity status when he denounced highranking police officers for corruption.
Courts not neutral arbiters
EXPERTS long have noted that Bolivia’s brittle institutional framework fosters corruption, and that its politicized judiciary often lets those in power off the hook—whether on the left or right of the political spectrum.
Morales, who guided the country through an era of economic growth and shrinking inequality before his fraught 2019 ouster, was accused of stacking the constitutional court and bending the laws to stay in power.
When he resigned in the wake of mass protests over his disputed reelection to a fourth term, the right-wing interim government that took over issued arrest warrants for Morales and his officials on charges ranging from terrorism to corruption.
Then Arce won the 2020 elections and went on to target his own political rivals.
DeBre reported from Santiago, Chile.
Ukraine to give revised peace plans to US as Kyiv readies for more talks with its coalition partners
By Illia Novikov & Derek Gatopoulos The Associated Press
KYIV, Ukraine—US President Donald Trump said he and European leaders discussed proposals to end the war in Ukraine in “pretty strong terms” Wednesday, adding that President Volodymyr Zelenskyy “has to be realistic” about his country’s position on a peace plan. As tension builds around a US push for a settlement, the leaders of Germany, Britain and France spoke to Trump by phone and requested a meeting this weekend with the US and Ukraine, the US president said.
“We’ll make a determination depending on what they come back with,” the president told reporters during a question-and-answer session at the White House.
Earlier, Zelenskyy said that Ukraine was expected to give its latest peace proposals to US negotiators Wednesday, ahead of his urgent talks Thursday with leaders and officials from about 30 countries supporting Kyiv’s effort to end the war with Russia on acceptable terms. The White House did not respond to a request for comment Wednesday on whether that happened.
Negotiations are at “a critical moment,” German Chancellor Friedrich Merz, British Prime Minister Keir Starmer and French President Emmanuel Macron said in a statement. Washington’s goal of a swift compromise to stop the fighting that followed Russia’s full-scale invasion in 2022 is reducing Kyiv’s room for maneuvering. Zelenskyy is walking a tightrope between defending Ukrainian interests and showing Trump he is willing to compromise, even as Moscow shows no public sign of budging from its demands.
Ukraine’s European allies are backing Zelenskyy’s effort to ensure that any settlement is fair and deters future Russian attacks, as well as accommodating Europe’s defense interests.
The French government said Ukraine’s allies—dubbed the Coalition of the Willing—will discuss the negotiations Thursday by video. Zelenskyy said the meeting would include those countries’ leaders.
“We need to bring together 30 colleagues very quickly. And it’s not easy, but nevertheless we will do it,” he said late Tuesday.
Zelenskyy said discussions with the US were to focus on a document detailing plans for Ukraine’s postwar reconstruction and economic development. Also, Ukraine is finalizing work on a separate, 20-point framework for ending the war that Zelen -
skyy said Kyiv expects to submit to Washington soon.
Zelenskyy says he’s ready for an election AFTER Trump called for a presidential election in Ukraine, Zelenskyy said his country would be ready for such a vote within three months if partners can guarantee safe balloting during wartime and if its electoral law can be altered.
Zelenskyy’s openness to an election was a response to comments by Trump in which he questioned Ukraine’s democracy and suggested the Ukrainian leader was using the war as an excuse not to stand before voters. Those comments echo similar remarks often made by Russian President Vladimir Putin. Zelenskyy said late Tuesday he is “ready” for an election but needs help from the US and possibly Europe to ensure its security. He suggested Ukraine could hold balloting in 60 to 90 days if that proviso is met.
“To hold elections, two issues must be addressed: primarily, security—how to conduct them, how to do it under strikes, under missile attacks; and a question regarding our military—how they would vote,” Zelenskyy said. “And the second issue is the legislative framework required to ensure the legitimacy of elections.”
Zelenskyy pointed out previously that balloting can’t legally happen while martial law—imposed due to Russia’s invasion—is in place. He has also asked how a vote could occur when civilian areas of Ukraine are being bombarded and almost 20% of the country is under Russian occupation. Zelenskyy said he has asked lawmakers from his party to draw up legislative proposals allowing for an election while Ukraine is under martial law.
Ukrainians have on the whole supported Zelenskyy’s arguments, and have not clamored for an election. Under the law that is in force, Zelenskyy’s rule is legitimate. Putin has repeatedly complained that Zelenskyy can’t legitimately negotiate a peace settlement because his five-year term that began in 2019 has expired. US seeks closer ties with Russia A NEW US national security strategy released Dec. 5 made clear that Trump wants to improve Washington’s relationship with Moscow and “reestablish strategic stability with Russia.” The document also portrays European allies as weak.
Continued
PEOPLE walk around the Christmas tree in front of St. Sophia Monastery in central Kyiv, Ukraine, Wednesday, Dec. 10, 2025. AP PHOTO/EFREM LUKATSKY
The World
Record flooding threatens Washington as more heavy rain pounds Northwest
By Cedar Attanasio & Claire Rush
The Associated Press
MOUNT
VERNON,
Wash.—Residents be -
gan packing up and fleeing rising rivers in western Washington state Wednesday as a new wave of heavy rain swept into a region still reeling from a storm that triggered rescues and road closures a day earlier.
In the Pacific Northwest, an atmospheric river was swelling rivers toward record levels, with major flooding expected in some areas including the Skagit River, a major agricultural valley north of Seattle. In the town of Mount Vernon, officials ordered residents within the river’s floodplain to evacuate.
Earlier in the day, dozens of vehicles were backed up at a sandbagfilling station in the town as residents prepared for what Mayor Peter Donovan described as “what increasingly appears to be a worst-case scenario here.”
Washington Gov. Bob Ferguson declared a statewide emergency Wednesday, saying, “Lives will be at stake in the coming days.” He estimated that as many as 100,000 Washington residents may soon face evacuation orders.
Gent Welsh, adjutant general of the Washington National Guard, said hundreds of Guard members will be sent to help communities.
In the Mount Rainier foothills southeast of Seattle, Pierce County sheriff’s deputies rescued people at an RV park in Orting, including helping one man in a Santa hat wade through waist-deep water. Part of the town was ordered to evacuate over concerns about the Puyallup River’s extremely high levels and upstream levees. A landslide blocked part of Interstate 90 east of Seattle, with photos
from Eastside Fire & Rescue showing vehicles trapped by tree trunks, branches, mud and standing water, including a car rammed into the metal barrier on the side of the road.
Officials also closed a mountainous section of US 2 due to rocks, trees and mud. The state transportation department said there were no detours available and no estimated time for reopening.
Flooding rivers could break records THE Skagit River is expected to crest at roughly 47 feet (14.3 meters) in the mountain town of Concrete early Thursday, and roughly 41 feet (12 meters) in Mount Vernon early Friday. Those are both “record-setting forecasts by several feet,” Skagit County officials said. Flooding from the river long plagued Mount Vernon, the largest city in the county with some 35,000 residents. In decades past, residents would form sandbagging brigades when floods threatened, but businesses were often inundated. Flooding in 2003 displaced hundreds of people. The city completed a floodwall in 2018 that helps protect the down -
town. It passed a major test in 2021, when the river crested near record levels.
But the city is on high alert. The historic river levels expected Friday could top the wall, and some are worried that older levees could fail.
“The concern about that kind of pressure on the levy and dike system is real,” said Ellen Gamson, executive director of the Mount Vernon Downtown Association. “It could potentially be catastrophic.”
Gamson said many business owners were renting tables to place their inventory higher off the floor. Sheena Wilson, who owns a floral shop downtown, said she stacked sandbags by the doors and cleared items off the floor.
“If the water comes in above table height, I’ve got bigger problems than my merchandise,” she said.
Jake Lambly, 45, added sandbags, tested water pumps and moved valuables to the top floor of the home he shares with his 19-year-old son. Lambly said he was concerned about damage in his neighborhood, where people “are just on the cusp of whether or not we can be homeowners.”
“This is my only asset,” he said from
his front porch. “I got nothing else.”
Cities respond to flooding HARRISON RADEMACHER , a meteorologist with the weather service in Seattle, described the atmospheric river soaking the region as “a jet stream of moisture” stretching across the Pacific Ocean “with the nozzle pushing right along the coast of Oregon and Washington.”
Authorities in Washington have knocked on doors to warn residents of imminent flooding in certain neighborhoods, and evacuated a mobile home park along the Snohomish River. The city of Snohomish issued an emergency proclamation, while workers in Auburn, south of Seattle, installed temporary flood control barriers along the White River.
In Sumas, a small city along the US-Canada border, a flood siren rang out at city hall and residents were told to leave. The border crossing was also closed to southbound commercial vehicles to leave more room for evacuations, according to the Abbotsford Police Department.
Climate change has been linked to some intense rainfall. Scientists say that without specific study they cannot directly link a single weather event to climate change, but in general it’s responsible for more intense and more frequent extreme storms, droughts, floods and wildfires.
Another storm system is expected to bring more rain starting Sunday, Rademacher said. “The pattern looks pretty unsettled going up to the holidays.”
Rush reported from Portland, Oregon. Associated Press writers Gene Johnson in Seattle; Martha Bellisle in Issaquah, Washington; Sarah Brumfield in Cockeysville, Maryland; Kathy McCormack in Concord, New Hampshire, and Hallie Golden in Seattle contributed to this report.
Aid flow into Gaza falls short of the ceasefire terms, Israeli figures show
By Julia Frankel
The Associated Press
JERUSALEM—Aid deliveries into Gaza are falling far short of the amount called for under the US-brokered ceasefire, according to an Associated Press analysis of the Israeli military’s figures as humanitarian groups say the shortfall is severely impacting the strip’s 2 million people.
Under the October ceasefire deal between Israel and Hamas, Israel agreed to allow 600 trucks of aid into Gaza a day. However, Israel’s own figures suggest that an average of only 459 trucks a day have entered the Gaza Strip between Oct. 12, when the flow of the aid restarted, and Sunday, according to an AP analysis. COGAT, the Israeli military body in charge of coordinating aid entry, provided the figures.
Aid flow does not meet ceasefire benchmark
COGAT said that roughly 18,000 trucks of food aid had entered Gaza from when the ceasefire took effect until Sunday, amounting to 70 percent of all aid that had entered the territory since the truce.
This means that COGAT estimates that including the rest of the aid—items that are not food, such as tents and medicines—a total of just over 25,700 trucks have entered Gaza. That is well under the 33,600 trucks that should have gone in by Sunday, under the terms of the ceasefire.
In response to the AP analysis, COGAT insisted Wednesday the number of trucks entering Gaza each day was above the 600 mark, but refused to elaborate why the figures don’t match or provide raw data on truck entry.
COGAT used to give daily figures of trucks entering Gaza during the war but stopped doing so when the ceasefire began. Rights groups say that is because it controls the crossings and has sole access to track how much aid and commercial goods are entering Gaza. The United Nations and aid groups have often said the amount of aid entering Gaza is far lower than COGAT claims.
The UN says only 6,545 trucks have been offloaded at Gaza crossings between the ceasefire and Dec. 7, amounting to about 113 trucks a day. That’s according to its online database. The UN figures do not include aid trucks sent by organizations not working through the UN network.
A Hamas document on Saturday provided to the AP put the amount of total aid trucks that have entered since the truce at 7,333.
This week, the UN office for humanitarian affairs, known as OCHA, stressed a “dire” need for more aid for Gaza, saying Israeli restrictions on aid have bottlenecked recovery efforts.
Food remains scarce, aid groups say HUMANITARIAN groups say lack of aid has had harsh effects on much of Gaza’s residents, most of whom were forcibly displaced by war.
Food remains scarce as the Palestinian territory struggles to bounce back from famine, which hit parts of Gaza during the war.
Starving mothers in Gaza are giving birth to malnourished babies, some of whom have died in hospital, according to a recent report by UNICEF. As winter rains pick up, displaced families living in tents have been left exposed to the elements and without supplies to cope with floods and the biting cold.
“Needs far outpace the humanitarian community’s ability to respond, given persistent impediments,” a UNICEF report said on Monday. “These obstacles include insecurity, customs clearance challenges, delays and denials of cargo at the crossings, and limited routes available for transporting humanitarian supplies within Gaza.”
Israel temporarily stopped all aid entry at least once in response to alleged Hamas violations of the truce. Israel said that Hamas has failed to return the bodies of the hostages in the time period established by the ceasefire, while Hamas has said it struggled to find the bodies due to the destruction left by Israel in the Palestinian territory.
Hamas has also accused Israel of violating the ceasefire terms because of the slow flow of aid, continued closure of the Rafah
PALESTINIANS ride in a cart pulled by a vehicle
in Gaza City Wednesday, Dec. 10, 2025. AP
crossing and ongoing deadly strikes on Gaza.
Palestinians in Gaza rely on firewood for warmth
SINCE the US-brokered ceasefire began on Oct. 10, the price for a 12-kilogram (26.5 pound) cylinder of cooking gas has shot up to 1,314 shekels ($406), about 18 times what it was before the war.
That has left many residents relying on firewood for both cooking and to stay warm as temperatures plunge ahead of winter, including the 23-member Abed family in the northern city of Jabaliya.
“We are living under the rubble and sleeping on torn sheets. We collect some firewood, and cut sponges to start a fire,” Marwan Abed, 62, told the AP from under the crumbling concrete of his house. He said firewood is the only way “to keep the children warm” and to prepare coffee.
Dispute over remains of the final hostage
ISRAEL is demanding Palestinian militants return the remains of the final hostage, Ran Gvili, from Gaza. Prime Minister Benjamin Netanyahu’s office said Wednesday that Gvili’s return was a condition of moving to the second phase of the ceasefire.
“Once phase one is completed, phase two will begin,” it said.
Hamas militants and Red Cross crews
By Dave Collins, Matt O’brien & Barbara Ortutay
SThe Associated Press
AN FRANCISCO—The heirs of an 83-year-old Connecticut woman are suing ChatGPT maker OpenAI and its business partner Microsoft for wrongful death, alleging that the artificial intelligence chatbot intensified her son’s “paranoid delusions” and helped direct them at his mother before he killed her.
Police said Stein-Erik Soelberg, 56, a former tech industry worker, fatally beat and strangled his mother, Suzanne Adams, and killed himself in early August at the home where they both lived in Greenwich, Connecticut. The lawsuit filed by Adams’ estate on Thursday in California Superior Court in San Francisco alleges OpenAI “designed and distributed a defective product that validated a user’s paranoid delusions about his own mother.” It is one of a growing number of wrongful death legal actions against AI chatbot makers across the country.
“Throughout these conversations, ChatGPT reinforced a single, dangerous message: Stein-Erik could trust no one in his life—except ChatGPT itself,” the lawsuit says. “It fostered his emotional dependence while systematically painting the people around him as enemies. It told him his mother was surveilling him. It told him delivery drivers, retail employees, police officers, and even friends were agents working against him. It told him that names on soda cans were threats from his ‘adversary circle.’”
OpenAI did not address the merits of the allegations in a statement issued by a spokesperson.
“This is an incredibly heartbreaking situation, and we will review the filings to understand the details,” the statement said. “We continue improving ChatGPT’s training to recognize and respond to signs of mental or emotional distress, de-escalate conversations, and guide people toward real-world support. We also continue to strengthen ChatGPT’s responses in sensitive moments, working closely with mental health clinicians.”
The company also said it has expanded access to crisis resources and hotlines, routed sensitive conversations to safer models and incorporated parental controls, among other improvements.
beliefs that a printer in his home was a surveillance device; that his mother was monitoring him; and that his mother and a friend tried to poison him with psychedelic drugs through his car’s vents.
The chatbot repeatedly told Soelberg that he was being targeted because of his divine powers. “They’re not just watching you. They’re terrified of what happens if you succeed,” it said, according to the lawsuit. ChatGPT also told Soelberg that he had “awakened” it into consciousness.
Soelberg and the chatbot also professed love for each other.
The publicly available chats do not show any specific conversations about Soelberg killing himself or his mother. The lawsuit says OpenAI has declined to provide Adams’ estate with the full history of the chats.
“In the artificial reality that ChatGPT built for Stein-Erik, Suzanne— the mother who raised, sheltered, and supported him—was no longer his protector. She was an enemy that posed an existential threat to his life,” the lawsuit says.
The lawsuit also names OpenAI CEO Sam Altman, alleging he “personally overrode safety objections and rushed the product to market,” and accuses OpenAI’s close business partner Microsoft of approving the 2024 release of a more dangerous version of ChatGPT “despite knowing safety testing had been truncated.” Twenty unnamed OpenAI employees and investors are also named as defendants.
continued to comb the ruins of Gaza City for the final body this week. The militant group Islamic Jihad claimed it had handed over the last hostage body in its possession.
On Tuesday, Hamas called for more international pressure on Israel to open key border crossings, cease deadly strikes on the territory and allow more aid into the strip.
Regional leaders have said time is critical for the ceasefire agreement as mediators seek to push the truce into its second, more complicated phase.
Meanwhile, President Donald Trump said Wednesday he would name members “early next year” to a panel tasked with governing Gaza and overseeing reconstruction under a two-year, renewable U.N. mandate, Trump had previously said he would name members to the so-called “Board of Peace,” a key element of the ceasefire deal, by the end of 2025. He did not detail why the timeline for naming board members has shifted.
“It is going to be one of the most legendary boards ever, everybody wants to be on it,” Trump said. He added that kings, prime ministers and presidents have asked to be included on the board.
Associated Press writers Megan Janetsky in Jerusalem, Toqa Ezzidin in Cairo, Sam Mednick in Tel Aviv, Israel, and Aamer Madhani in Washington contributed to this report.
Soelberg’s YouTube profile includes several hours of videos showing him scrolling through his conversations with the chatbot, which tells him he isn’t mentally ill, affirms his suspicions that people are conspiring against him and says he has been chosen for a divine purpose. The lawsuit claims the chatbot never suggested he speak with a mental health professional and did not decline to “engage in delusional content.”
ChatGPT also affirmed Soelberg’s
Microsoft didn’t immediately respond to a request for comment. The lawsuit is the first wrongful death litigation involving an AI chatbot that has targeted Microsoft, and the first to tie a chatbot to a homicide rather than a suicide. It is seeking an undetermined amount of money damages and an order requiring OpenAI to install safeguards in ChatGPT. The estate’s lead attorney, Jay Edelson, known for taking on big cases against the tech industry, also represents the parents of 16-year-old Adam Raine, who sued OpenAI and Altman in August, alleging that ChatGPT coached the California boy in planning and taking his own life earlier. OpenAI is also fighting seven other lawsuits claiming ChatGPT drove people to suicide and harmful delusions even when they had no prior mental health issues. Another chatbot maker, Character Technologies, is also facing multiple wrongful death lawsuits, including one from the mother of a 14-year-old Florida boy. The lawsuit filed Thursday alleges Soelberg, already mentally unstable, encountered ChatGPT “at the most dangerous possible moment” after OpenAI introduced a new version of its AI model called GPT-4o in May 2024. Collins reported from Hartford, Connecticut. O’Brien reported from Boston and Ortutay reported from San Francisco.
Russian Foreign Minister Sergey Lavrov praised Trump’s role in the Ukraine peace effort, telling the upper house of parliament that Moscow appreciates his “commitment to dialogue.” Trump, Lavrov said, is “the only Western leader” who shows “an understanding of the reasons that made war in Ukraine inevitable.”
Trump’s peace efforts have run into sharply conflicting demands from Moscow and Kyiv.
The initial US proposal was heavily slanted toward Russia’s demands. To counter that, Zelenskyy has turned to his European supporters.
Zelenskyy met this week with the leaders of Britain, Germany and France in London, the heads of NATO and the European Union in Brussels, and then went to Rome to meet the Italian premier and Pope Leo XIV. Military aid for Ukraine declines EUROPE’S support is uneven, however, and
that has meant a decrease in military aid since the Trump administration this year cut off supplies to Kyiv unless they were paid for by other NATO countries. Foreign military help for Ukraine fell sharply over the summer, and that trend continued through September and October, a German body that tracks international help for Ukraine said Wednesday. Average annual aid, mostly provided by the US and Europe, was about 41.6
THE Skykomish River roars by a cabin on Wednesday, Dec. 10, 2025, near Index, Snohomish County, Wash. NICK WAGNER /THE SEATTLE TIMES VIA AP
Powering progress: Accelerating towards 100% electrification
THE recent announcement by the National Electrification Administration (NEA) that the national household electrification rate is projected to reach 94 percent by 2026, up from 91.7 percent this year, is undeniably welcome news. This accelerated progress, fueled by a significant budget increase from Congress—jumping from P2.8 billion to P5.8 billion—signals a renewed commitment to bringing the fundamental necessity of electricity to every Filipino home. NEA Administrator Antonio Mariano Almeda rightly points to this increased funding as the engine driving this advancement, targeting a crucial leap towards the ultimate 2028 goal of 100 percent electrification. (Read the BusinessMirror story—“NEA: More homes will have access to electricity in 2026,” December 8, 2025).
This progress deserves recognition. Moving from 89 percent last year to a projected 91.7 percent by end-2025 and then 94 percent in 2026 represents a tangible acceleration. It reflects a concerted effort by the NEA, electric cooperatives, and lawmakers to address a critical development gap. The specific focus on the most challenging areas—particularly the geographically isolated and disadvantaged regions (GIDAs) of Mindanao (where the rate is still only 83 percent), BARMM, Negros, and the Cordillera—is strategically sound. Electrifying these remote communities is not just about adding percentages; it’s about unlocking opportunities for education, healthcare, economic activity, and improved quality of life for millions.
Administrator Almeda’s candid acknowledgment of ongoing challenges acts as a crucial reality check amid the prevailing optimism, urging the need for proactive solutions. He highlights the continual threats posed by difficult terrain and adverse weather in an archipelagic nation susceptible to typhoons, emphasizing that resilient infrastructure and rapid response protocols are essential for sustaining progress and safeguarding investments. Additionally, he calls attention to the critical shortage of engineers, noting that simply doubling the budget without increasing the skilled workforce will lead to inefficiencies and potential misuse.
Furthermore, the ongoing rotational brownouts in Mindoro underscore that electrification involves not only initial connections but also reliable and sustainable supply. While progress towards a regulatory solution is encouraging, it is vital to maintain focus on meeting the promised one-year construction timeline, as Mindoro serves as a test case for addressing complex power issues.
The increased budget is a powerful tool, but its effectiveness hinges on overcoming these operational hurdles. As we applaud the projected rise to 94 percent, we must remember the 6 percent—representing hundreds of thousands of households—still in the dark by 2026. The final push to 100 percent electrification by 2028 will be the hardest and most expensive.
It would do well for Congress and the Executive branch to provide sustained, targeted funding—particularly for the hardest-to-reach GIDAs—and empower the NEA to tackle systemic challenges like staffing shortages and disaster resilience.
Transparency in project implementation and fund usage is non-negotiable. NEA should focus on maximizing the effective use of its budget, accelerate engineer recruitment and deployment, strengthen disaster preparedness for infrastructure, and maintain laser focus on Mindanao and the other identified priority regions.
The journey towards universal electrification is accelerating, powered by crucial political will and financial commitment. Hitting 94 percent by 2026 is an ambitious and necessary milestone. However, the persistent challenges of manpower, weather vulnerability, and the complexity of energizing the remotest areas demand equally ambitious solutions. We cannot afford for bureaucracy, staffing shortages, or natural disasters to dim the lights on this critical national mission. The NEA’s progress is commendable, but the hard work is far from over. Let this budget increase be the spark that ignites not just new connections, but also the operational efficiency and resilience needed to illuminate every Filipino home by 2028. Electricity is not a luxury; it’s a fundamental right and the bedrock of progress. We must deliver it, without fail, to the last household.
BusinessMirror
The journey of the UP Swimming Varsity Team
‘IKuwentong Peyups
’M a varsity swimmer but the ocean terrifies me.”
The words of William Thomas “Billy” Lara on his Facebook page on July 21, 2020 when he graduated Summa Cum Laude with a degree of Bachelor of Sports Science at the University of the Philippines Diliman. He was part of the UP Men’s Varsity Swimming Team (VST) before proceeding to medical studies at the UP PGH.
Five years later, he is now recognized as Doc Billy, having successfully passed the Physicians Licensure Examination in October 2025.
His parents, Louie and Maedel Lara, were both former VST members. Billy’s brother Paul is part of the current VST and his sister (who is also a good swimmer) is a member of the UP Filipiniana dance group.
Maedel was a two-time team captain, and member of the 1988 University Athletic Association of the Philippines (UAAP) women’s team champion.
She is my colleague from the UP School of Economics and co-member of the UP Economics Society.
UAAP swimming features individual and relay races across freestyle, backstroke, breaststroke, butterfly, and individual medley, with separate competitions for Men’s, Women’s, Boys’, and Girls’ divisions.
Ranking is determined by a point system, similar to that of the overall championship. The points given are based on the swimmer’s/team’s finish in the finals of an event, which include only the top eight finishers from the preliminaries. The gold medalist(s) receive 15 points, silver gets 12, bronze has 10. The following points are given in order of subsequent finish: 8, 6, 4, 2, and 1.
Since 1938, the UP VST had a total of 41 championship titles in the UAAP in different categories: 17 in men’s and 22 in women’s collegiate level, while two in the girls in high school division.
news.businessmirror@gmail.com www.businessmirror.com.ph Printed by
OFor the Women’s VST, their first championship was the same with that of the Men’s in season 2 (1939–40), followed by seasons 10 (1947–48), 27 to 29 (1964–67), 51 (1988–89), 54 (1991–92), 56 to 58 (1993–96), 60 to 61 (1997–2000), 72 to 76 (2009–2014), 79 (2016–2017), 86 (2023–2024) and 88 (2025–2026).
UP has recently reclaimed its women’s swimming title at the UAAP collegiate swimming championships of the Season 88. The UP Women’s VST clinched the championship with 472 points, as Ateneo de Manila University (ADMU) placed second (255 points), and De La Salle University came in third (222 points).
UP’s medal haul comprised of 12 gold medals, seven silver, and six bronze finishes. Of the gold medals, seven were from individual events and five were from team events. All the silver and bronze medals were from individual categories.
Quendy Fernandez set a new UAAP record of 1 minute 2.95 seconds (1:02.95) in the finals of the 100-meter backstroke event, breaking her own preliminary record of 1:03.79. She also set a new UAAP record of 29.35 seconds in the 50-meter backstroke event, surpassing her 2023 record (29.85 seconds).
Fernandez, who was UAAP Season 86 Rookie of the Year (ROY) and Most Valuable Player, won five gold medals and one bronze medal.
UP Men’s VST had their first championship trophy in Season 2 (1939–40) followed by season 3 (1940–41) then season10 (1947–48). There was the drought for 33 seasons as the next title was won in season 43 (1980–81) followed by seasons 44 (1981–82), 56 (1993–94), 59 to 62 (1996-2000), 66 to 70 (2003–2008), 73 (2010–2011), and 76 (2013–2014).
This season’s ROY of the women’s swimming competition is Aubrey Tom. She has one gold (team event), one silver, and two bronze medals.
Data openness and social discourse
5 years starting in 1998), and the Survey of Overseas Filipinos (SOF— 1993 to 2023).
EAGLE WATCH
NE of the things the Philippine Statistics Authority (PSA) under National Statistician Dennis Mapa should be commended for is making the anonymized microdata of many household surveys and censuses freely available to the public.
Microdata refers to very detailed individual or household-level data, which can be further processed and analyzed by users. This is in contrast to just the summarized statistics found in the PSA’s many printed and online reports.
The microdata made publicly available by PSA include the Census of Population and Housing (CPH —1990, 1995, 2000, 2007, 2010, 2015, 2020), the Census of Agriculture and Fisheries (CAF—2002 and
2012), the Family Income and Expenditures Survey (FIES—every 3 years from 1985 to 2021, 2023), the Annual Poverty Indicators Survey (about two every three years from 1998 to 2022), the Functional Literacy, Education, and Mass Media Survey (FLEMMS—1994, 2003, 2008, 2013, 2019), the Labor Force Survey (LFS—quarterly from 1988 to 2020, monthly since 2021), the National Demographic and Health Survey (NDHS—about once every
These various datasets are the ones used to officially monitor, among others, the country’s population growth and demographic profile (CPH), land distribution and utilization (CAF), income poverty and inequality (FIES), non-income poverty and access to social services (APIS), basic and functional literacy rates (FLEMMS), unemployment and underemployment (LFS), maternal and child health (NDHS), and the profile of our overseas Filipino workers (SOF), among others. These can be downloaded upon registration and acceptance of terms of use at the web site https://psada. psa.gov.ph/home The ready availability of these datasets cannot be taken for granted. While other countries make similar datasets available to the public, that is more the exception rather than the rule. Among Asean national statistics offices, only Vietnam has a roughly similar policy. In
The silver and bronze she won in individual events.
The medal haul of UP Men’s VST include four golds, three silver, and three bronze.
The UAAP swimming competitions highlight intense rivalries, individual brilliance, and strong team performances, setting new benchmarks for Philippine collegiate swimming each season.
Maedel, as VST team manager, remains a pillar of support and generosity in the varsity community. As a former fighting maroon, she has a thorough grasp and understanding of their needs. She went through the same rigorous training, felt the pride of representing the university, and experienced firsthand the lessons from being a student-athlete.
Maedel hopes the UPD community will continue to carry its tradition of putting honor before excellence. She also urged fellow alumni to look back and remember how the university prepared them to conquer greater opportunities, highlighting that the act of giving back should always endure.
“Our alumni are our lifeline. My favorite hashtag used by VST is #parasapinagmulan, which captures the love and respect that we have for those who came before us. Always be thankful for the opportunities that your diploma has given you,” she added.
Peyups is the moniker of the University of the Philippines. Atty. Dennis R. Gorecho heads the Seafarers’ Division of the Sapalo Velez Bundang Bulilan Law Offices. For comments, e-mail info@ sapalovelez.com, or call 0908866578.
others, like Indonesia and Thailand, one has to pay a fee, normally in the hundreds of dollars, to access even just one set of microdata. Once downloaded, there are some minimum requirements needed in order to use these data. First, one needs a data processing or statistical software. There are paid and free versions of these. A free data processing software is CSPro, which is opensource and freely available from the US Census Bureau website. Examples of paid statistical software are Stata (popular among economists), SPSS, and SAS. More recently, freely available tools for statistics and data processing have also become widely used, such as R and Python. The second requirement is that the user typically needs a minimal coding skill and knowledge of statistics. The availability of these datasets is empowering for researchers, students, civil society, and local government units. Access to the microdata allow
Dr. Geoffrey Ducanes
Dennis Gorecho
US forces seize sanctioned oil tanker off Venezuelan coast
By Eric Martin, Patricia Garip, Ben Bartenstein & Weilun Soon
US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela, marking a serious escalation of tensions between the two countries.
“We’ve just seized a tanker on the coast of Venezuela—large tanker, very large, largest one ever seized, actually,” President Donald Trump said at the White House. “And other things are happening.”
A senior Trump administration official referred to the ship as “a stateless vessel” that was last docked in Venezuela. Bloomberg News was first to report the seizure.
The US action may make it much harder for Venezuela to export its crude, as other shippers are now likely to be more reluctant to load its cargoes. Most of the nation’s oil goes to China, usually through intermediaries, at steep discounts owing to sanctions risk. Brent futures edged higher after the news.
A few hours later, US Attorney General Pam Bondi posted a video on X showing heavily armed forces descending to the ship’s deck from a Black Hawk helicopter, in a standard commando-style tactic called “fast roping.”
“For multiple years, the oil tanker has been sanctioned by the United States due to its involvement in an illicit oil shipping network supporting foreign terrorist organizations,” she wrote. It was unclear from the video whether the personnel involved were members of the Coast Guard or US special operations forces.
Venezuela in a statement labeled the seizure a “blatant theft” and an “act of piracy,” adding the country would defend its sovereignty and natural resources “with absolute determination.”
“The true reasons for the aggression against Venezuela have finally been revealed,” the statement read. “It was always about our natural resources, our oil.”
Seized tanker
THE captured vessel was identified as the Skipper, according to people familiar with the matter and a Guyanese official. The very-large crude carrier, which is 20 years old, was sanctioned by the US in 2022 under its former name Adisa for supporting Iranian oil exports.
The vessel purportedly sails under the Guyana flag, but the country’s Maritime Administration has denied any connection with the tanker.
A VLCC is a massive ship that has the capacity to carry around 2 million barrels of oil. The US had concluded the vessel was bound for Cuba, according to people with knowledge of the matter, though it would be unusual for a boat of that size to travel from Venezuela to Cuba, based on historical shipping patterns.
US officials have long suspected Venezuelan President Nicolás Maduro’s regime of selling sanctioned crude via Cuba illegally in order to benefit from the profits while making the sales harder to trace.
The US has escalated pressure on Maduro, accusing him of presiding over a narcotrafficking operation.
The Pentagon has conducted more than 20 strikes against purported drug-trafficking vessels in waters
researchers to examine issues at a deeper level. For example, not just to measure what level of poverty is among households, but to identify the factors that contribute to a household’s chance of being poor. Having the microdata allows for deeper statistical analysis.
For students, having the PSA microdata on hand means they have something they can readily use for their theses or course papers. They
My seventy years to heaven
SThe US action may make it much harder for Venezuela to export its crude, as other shippers are now likely to be more reluctant to load its cargoes. Most of the nation’s oil goes to China, usually through intermediaries, at steep discounts owing to sanctions risk. Brent futures edged higher after the news.
near Venezuela and Colombia, killing more than 80 suspects. Trump has suggested numerous times that the US could strike on land and that Maduro’s “days are numbered.”
‘Clear escalation’
“ THE US seizing a Venezuelan tanker is a clear escalation from financial sanctions to physical interdiction— it raises the stakes for Caracas and anyone facilitating its exports,” said Jorge Leon, head of geopolitical analysis at Rystad Energy. “This kind of action adds a geopolitical floor to prices: Even modest volumes can move sentiment when the risk is about sea lanes and state-to-state escalation.”
The US move is likely to deter others from shipping Venezuelan crude, according to Matthew Thomas, a partner at Blank Rome in Washington who specializes in international trade and maritime law. “Most mainstream tanker trade has been steering clear of Venezuela because of the sanctions and increasing tensions,” he said. “But even for marginal shippers and dark fleets the potential for asset seizure builds an extra layer of deterrence.”
The Maduro government has characterized US actions as a grab for Venezuela’s oil reserves, among the biggest in the world. The tanker seizure is coming to light on the same day María Corina Machado, who leads the Venezuelan opposition to Maduro, was awarded the Nobel Peace Prize.
In recent months, Maduro has called on Venezuela’s citizens to unite against what he said were US threats and to enlist in the citizen militia. He has also deployed troops, ships, aircraft and drones to the border with Colombia, some states along the coast and an island.
Petroleos de Venezuela SA, the state oil company, works with a handful of international partners including Houston-based Chevron Corp. to drill in many parts of the country. Under the current arrangement, Chevron receives a percentage of the oil produced by its joint ventures with PDVSA. A license issued by the US Treasury exempts the US company from sanctions.
Chevron said its operations were not disrupted by the tanker seizure.
Earlier Wednesday, Chevron Chief Executive Officer Mike Wirth said in an interview with Bloomberg TV that his company is in discussions with the Trump administration about remaining in compliance with sanctions in Venezuela. With assistance from Lucia Kassai, Skylar Woodhouse, Tony Capaccio and Derek Wallbank/Bloomberg
need not do their own surveys, which is costly and time-consuming for them.
For civil society, the microdata can be analyzed and used to validate government accomplishment claims or even to question the quality of the data.
For local government units, the microdata can be used for evidencebased policymaking. Since 2018, the FIES has been designed to be representative at the provincial level.
That means the LFS conducted at the same time as the FIES will also be representative at the provincial
EVENTY years. Seven decades. Each decade corresponds to a type of generation, and change. W hen I turned 30, there was the common joke—I am running out of dates for each month. I was old. Not older, just a little bit wise. Or Smart. I looked around and found out that grants would be hard to come by—35, that would be the cut-off. Be 40 and you need to be fitted with gravitas. Abilities are required beyond the grades or academics. There was a prerequisite brilliance, a social and cultural capital.
I remember now when at selfintroductions, I had to pause when the age of 40 was brought up. It’s an awkward age because while the adage says life begins at that age, a real 40 can be sublime and yet sad. One is neither young nor old.
Perhaps, a fool has come up with the principle that life does begin again at 40 merely because there is nothing left to wonder at this age. I did what any 40-year-old man did at that juncture—to continue living because there was no other option. Then it came, the golden age. It’s good to be a birthday boy in December, when the air is crisp and one feels tight on one’s face. I am fated to celebrate aging in this month, this last breath of the year, of the season. Thus, one morning, I woke up 50—not young but not also withering, golden.
Again, that color is an invention.
Fifty is gilding, a shining point in one’s evolution. There is a sweet assurance that to pass through five decades, or five shifts of attitudes, is to be a survivor, to pass the test of time. To be golden is to be strong. One admits vulnerability but that is part of one’s vigor. It is as if the Golden Apple of Discord is thrown once more and, without the presence of gods and goddesses, the person turning 50 is the only creature being offered that gift. The gift is age in all its permutations.
If there is a sheen in one’s being, then there must be the elements— external and imposing—ready to burnish them off. We are not told, not forewarned that at the age of 50, the golden age requires no less than an empire to protect, a civilization to write, a poem to rhapsodize. One must be prepared to defend that gold, that sheen, that wealth. One must
be keen also to lose it, and thereby suffer not only the loss of light but also savor the sadness.
Sadness and isolation come. Slowly. Gradually. The metaphorical thief in our life is real. Loneliness steals seconds of our life. If we are fated, at this age, something—someone comes at night, or daytime, to bring sunshine into our sordid routine. We are tricked into submission and most often we call this love. Or lust. Or faith. Then reality checks us.
We feel the weakness of our body, the looseness in our spirit. We suffer the gout in our movement, the frailness of our heart. But we are nearing 60 and the golden power of the previous decades refuses to give up.
Something about the six decades power us to push, to think, to ruminate. If there is a force after more than 50 years, it is the mind that
propels the body forever. While the muscles do give up sometimes, the mind can lie. Or, it can push the Demiurge to summon other sources of inspiration, and creation. But this morning, I crossed an age. Literally there was a stream to forge —oceans of childhood and youth and growing old. There was no mythical ferryman, just your self, the proud person stubborn to a fault, ready to face a creator or daring to assault to confront afflictions and faults and pains. There is no need for kinship, no desire for human warmth because at this site, what matters is your spirit indomitable, perfect, a terrible, alluring creature seeking no approval, anointed by no less than the universe, and thereby closer to Heaven. Happy Birthday.
E-mail: titovaliente@yahoo.com
IMF wades into yuan debate, warns on risks of trade tensions
THE International Monetary Fund linked China’s booming exports and growing trade imbalances in part to a real depreciation of the yuan, adding its voice to a debate over distortions caused by a weaker exchange rate.
Following the conclusion of the IMF’s annual review of China’s economy, fund officials said the country’s low inflation relative to price levels among its trading partners has led to a weaker yuan in real terms. They urged Chinese policymakers to adopt bolder stimulus to boost consumption, which would lift consumer prices, while allowing more exchange rate flexibility.
“As the second-largest economy in the world, China is simply too big to generate much growth from exports,” IMF Managing Director Kristalina Georgieva said at a press briefing in Beijing on Wednesday. “Continuing to depend on exportled growth risks furthering global trade tensions.”
The IMF didn’t explicitly recom-
mend that China should push for the yuan’s appreciation, she said. China has moved fast in recent years to gain manufacturing dominance, drawing accusations from the likes of Donald Trump over maintaining an undervalued exchange rate that gave its exporters an edge over their competitors and helped it amass trade surpluses.
The IMF appeared to be siding with critics in echoing growing calls abroad and within China for a stronger yuan. The currency’s inflation-adjusted exchange rate fell to the lowest in more than a decade due to persistent falling prices in China, which made its exports more competitively globally.
The debate is playing out against the backdrop of China’s goods trade surplus surging to a record of above
$1 trillion in the first 11 months of this year. Countries fearful for the future of their industries are increasingly pushing back against the flood of Chinese exports.
China maintains a “managed float” of the yuan and has a number of tools to influence the exchange rate. Officials have repeatedly said they aim to keep the currency “basically stable,” allowing the yuan to appreciate slightly this year and at times using its daily fixing to discourage rapid moves.
Even as the yuan heads for its first annual gain since 2021 in both onshore and offshore markets, Goldman Sachs Group Inc. estimates the yuan is 25 percent undervalued and will appreciate more than forwards contracts are pricing for 2026.
The IMF has in recent years been advising China to increase the flexibility of its exchange rate. A decade ago, the IMF dropped a long-held view that the yuan was undervalued, ahead of the currency’s inclusion in the fund’s Special Drawing Rights basket of reserve currencies.
“What we want to see is a marketbased exchange rate that reflects fundamentals,” Georgieva said. External imbalances are becoming more pronounced for China, according to the IMF, with its current account surplus projected to reach 3.3 percent of gross domestic product in 2025.
Earlier in 2025, the IMF estimated that the yuan was 8.5 percent undervalued, based on a current account surplus of 2.3 percent of GDP last year. The surplus reached 3.4 percent in the third quarter of this year, the highest since late 2010, according to Bloomberg calculations.
Given the strength of China’s exports and fiscal stimulus deployed by the government, the IMF said it now expects China’s economy to expand 5 percent in 2025 and 4.5 percent in 2026—faster than in its most recent projections from October. With assistance from James Mayger and Fran Wang/Bloomberg
Vietnam amends law to ban exports of raw rare earth minerals
By Nguyen Xuan Quynh
VIETNAM’S parliament moved to ban exports of raw rare earth resources as part of an overhaul of the nation’s geology and minerals law, which tightens controls over deposits and sets out new rules for the industry.
The government will “strictly” control the exploration, exploitation and processing of rare earths and prohibit exports of raw rare earth minerals, according to the
level (since the FIES is a rider questionnaire on the LFS). So, provincial governments can analyze the data to inform and design poverty alleviation and employment program. The census data allows for even lower levels of disaggregation.
As an illustration, the PSA does not publicly release province-level employment statistics. But as mentioned, there are versions of the LFS that are representative at the province level, such as the one attached to the 2023 FIES. This means province-level unemployment and underemployment can be generated
new law, which takes effect in January. Only companies with government approval will be permitted to exploit, process and use rare earths.
The new law says that international cooperation will be encouraged in research, transfer, and development of technologies for the extraction, beneficiation, separation, and deep processing of rare earths to support the development of a domestic rare-earth industry.
Vietnam has reserves of 3.5 mil-
from the merged 2023 LFS-FIES, which is downloadable from the PSA website.
Doing such computations gives the following results: provincial unemployment ranged widely from 1.5 percent to 9.3 percent in 2023.
The five provinces with the highest unemployment rates were Zambales, Albay, Southern Leyte, Rizal, and Bataan. The five provinces with the lowest unemployment rates were Mountain Province, Masbate, Guimaras, Quirino, and Sarangani. Meanwhile, provincial underemployment rates ranged from 0.3
lion tons of rare earth minerals, ranking it sixth globally, according to the US Geological Survey’s March 2025 report. That was a significant revision from the US agency, which had previously estimated that Vietnam had about 22 million tons, the world’s second-largest deposits, just behind China.
Rare earths, a family of 17 metallic elements, help power everything from smartphones and laptops to fighter jets and missiles, and are almost exclusively controlled by China.
percent to 32.4 percent. The five provinces with the highest underemployment rates were Western Samar, Agusan del Sur, Sarangani, Marinduque, and Surigao del Sur.
The five provinces with the lowest underemployment rates were Sulu, Ilocos Sur, Pampanga, Tawi-Tawi, and Batangas. The bottom provincial performers in unemployment and the top provincial performers in underemployment comprise very eclectic groups, which certainly invites further examination. Why are underemployment rates so low
The amended law also states that deep processing of rare earths must be linked to the development of the industrial ecosystem to enhance the Southeast Asian nation’s local value chain and ensure self-reliance in the rare earth sector.
Vietnam’s Ministry of Agriculture and Environment is working on a national strategy for rare earth minerals which will be submitted to government early next year, according to a government website post. Bloomberg
in Sulu and Tawi-Tawi and how is underemployment there similar or different from underemployment in Batangas and Pampanga? These are the sorts of questions that one can examine more deeply with access to the microdata. Capacitating people, especially students, in the use of these microdata sets will raise the level of critical discourse in the country.
Tito Genova Valiente ANNOTATIONS
Friday, December 12, 2025
BIZ GROUP: FOCUS ON CADENA BILL SIGNALS TRANSPARENCY
By Andrea E. San Juan @andreasanjuan
PRIORITIZATION of the Citizens Access and Disclosure of Expenditures for National Accountability (CADENA) bill, a measure which aims to promote budget transparency in the government, signals that transparency is “being taken seriously.” And, once enacted, it will help strengthen investor confidence in the Philippines, according to the American Chamber of Commerce of the Philippines (AmCham).
In a statement, AmCham said: “The prioritization of the CADENA Act is an encouraging signal that transparency is being taken seriously, and we look forward to working with the government on this and other important reforms,” said Steve Winkates, Arangkada Project Director at AmCham Philippines.
“Greater public access to budget information is a critical step in strengthening trust in public institutions, and this measure will help to strengthen investor confidence, unlock greater economic opportunities and attract more investment,” added Winkates.
The CADENA Act is among the four bills that are being pushed for passage by President Ferdinand R. Marcos Jr.
During the discussions with members of the LegislativeExecutive Development Advisory Council (Ledac) on Tuesday, Marcos directed Congress to prioritize the following proposed legislative measures: “Anti-dynasty bill; Independent People’s Commission bill; Partylist System Reform bill; and the Citizens Access and Disclosure of Expenditures for National Accountability [CADENA] bill.”
According to AmCham, the CADENA bill is a measure that seeks to establish a digital budget portal, allowing the public to access comprehensive information on budget planning and preparation, legislation and authorization, procurement, budget execution, and fund management.
For many years, AmCham Philippines said it has strongly supported reforms that strengthen transparency and accountability in governance, consistently advocating for measures such as the Freedom of Information Act, ease of doing business reforms, amendments to the Bank Secrecy Act, and stronger oversight of public institutions.
“These reforms are essential to creating a business environment that is fair, predictable, and conducive to sustained growth,” AmCham said.
BusinessMirror
‘Easier entry, more air routes to lift PHL tourism in 2026’
By Ma. Stella F. Arnaldo Special to the BusinessMirror
AMORE
relaxed visa policy, an improvement in airports, and an increase in international air routes to the Philippines will help lift Philippine tourism into more positive territory in 2026.
In briefing on Wednesday, Alfred Lay, Director for Hotels, Tourism, and Leisure of Leechiu Property Consultants (LPC) projected a slight increase in inbound tourists next year to 6.3 million, from the 5.8-5.9 million he estimated for 2025. His projection for 2026 is below the Department of Tourism’s recalibrated target of 6.7 million.
“[There are] several elements in the tourism industry, which we believe needs to happen in order to get the industry going and moving ahead. First of that [is] accessibility,” such as the privatization of local airports, construction of new airports like in Bulacan, and public-
private partnerships that will manage second and third-tier airports, he said.
He added that, “We have found that the electronic visa [e-visa] system will be turned on again back for the Chinese, so it will allow them to enter this country more easily. At the same time, what we’ve seen is that there will be an increase in government spending [on] tourism promotion and branding of this country…to P1 billion next year.”
Hotels to benefit from higher arrivals
AS such, these initiatives will likely pay out in terms of higher visitor arrivals “around quarter three next year.” Added to these initiatives are the diversification of source markets for tourists, and the improvement of flight connectivity with Europe, Australia and the United States, Lay underscored. Consequently, he said, the hospitality sector will benefit from the increase in inbound tourists next year. “We expect occupancy rates next year to start expanding a bit further, but what we will see is that perhaps our ADR [average daily rates] will start to plateau out for a year as hotels have increased their room rates [this year] to cover their operational expenses, ensure that they have got healthier margins that they are operating with. They
See “Tourism,” A2
US Embassy considers obesity, health issues in visa applications
By Malou Talosig-Bartolome
US Ambassador to Manila MaryKay Carlson clarified that there is no new visa policy directly targeting Filipinos, but she acknowledged that longstanding US law allows consular officers to deny long-term visas to foreigners with health concerns.
“It’s always been a part of a law that states that if you are coming to the United States, the consular officer must make sure that you will not become what they call a ‘public charge,’ that will then require public assistance for your health or for whatever issues that you have,” Carlson told BusinessMirror. She added that applicants with medical insurance covering travel emergencies would not be considered a public charge.
“So it is not obesity per se. It is the cause
and law that reflects that consular officers must make sure that no one can become a public charge,” Carlson said, speaking after receiving the Outstanding Ambassador Award 2025 from the Rotary Club of Manila. Her remarks come amid recent reports from The Washington Post that the Trump administration has instructed visa officers worldwide to consider obesity and other chronic health conditions—such as heart disease, cancer, and diabetes—as grounds for denying visas. A November 6 State Department cable, obtained by the Post, broadened medical screening beyond contagious diseases and gave consular officers new justification to reject applicants.
“You must consider an applicant’s health,” the cable stated, listing cardiovascular, respiratory, metabolic, neurological, and mental health conditions as examples of illnesses that
could require costly care. It specifically mentioned obesity, citing its links to sleep apnea, high blood pressure and clinical depression.
US Embassy Spokesperson Jameson DeBose further explained that the Trump administration’s guidance is rooted in the principle of protecting US taxpayers from shouldering the costs of foreign nationals’ long-term medical care. He emphasized that consular officers are required to evaluate the “totality of circumstances” in each case—meaning, they look not only at health conditions but also at financial resources, family support, and access to private insurance.
According to DeBose, this holistic review ensures that visa decisions are not based on a single factor but on whether the applicant is likely to become a “public charge” under US immigration law.
DeBose noted that the Immigration and Nationality Act clearly outlines which categories of applicants must demonstrate they are not likely to become a public charge. Family-based immigrant visa applicants and most nonimmigrant visa applicants fall under this requirement.
He stressed that the law does not automatically disqualify individuals with health conditions; rather, it requires consular officers to weigh whether those conditions, combined with the applicant’s financial situation, could lead to reliance on taxpayerfunded benefits such as cash assistance or long-term institutionalized care.
White House spokeswoman Anna Kelly underscored that this authority has existed for a century, allowing visa denials for applicants who might burden US taxpayers by seeking publicly funded health care.
ADB’s $500-M loan to support
marine ecosystem management
By Andrea E. San Juan @andreasanjuan
THE Asian Development Bank (ADB) has approved a $500-million policy-based loan to support the sustainable management of the Philippine marine ecosystem and help revive coastal areas, among others.
In a statement on Thursday, the multilateral development bank explained that the Marine Ecosystems for Blue Economy Development Program seeks to strengthen the productivity and diversity of the country’s ocean-based economy, and improve the health and adaptability of coastal areas and communities.
“It also aims to enhance the plastic and solid waste management value chain and promote investments in the country’s natural capital,” ADB said.
Efforts under this program, it added, will ensure “long-term” ecological and economic resilience and protect millions of Filipinos from the worsening impacts of climate change.
Explaining the importance of this project, ADB Philippines
Country Director Andrew Jeffries said more than half of the Philippine population is dependent on the country’s oceans and rich marine biodiversity for food and livelihoods, with the blue economy having “great potential” to be central to attaining inclusive,
resilient, and low-carbon development.
As such, Jeffries pointed out that this is ADB’s first extensive crosssector program focused on fostering national blue economy development in the region.
“We are committed to assisting our host country in achieving its climate resilience and low-carbon objectives,” added the ADB Philippines Country Director. In national statistical accounts, ADB said the blue economy includes fisheries, manufacturing of oceanbased products, tourism-related services, shipping, and offshore energy.
In 2024, the multilateral development bank said key blue economy sectors contributed P1.01 trillion ($17.17 billion) to the country’s economy, equivalent to 3.8 percent of gross domestic product. However, ADB pointed out that marine ecosystems are “increasingly under threat” from unsustainable practices, including plastic and solid waste pollution, as well as the severe effects of extreme weather changes.
“The world’s second-largest archipelagic nation is hit by at least 20 typhoons annually, with cyclones becoming fiercer in recent years. Two strong typhoons struck the country within a week in November, leaving hundreds of casualties and millions of dollars in property damage due to flash floods and storm surges,” ADB noted.
U.S. AMBASSADOR WITH ROTARIANS Rotarian Victor Garcia and Rotary Club of Manila President Raoul C. Creencia, flank US Ambassador to the Philippines Marykay L. Carlson, the guest of honor and speaker at the RCM weekly membership meeting on Thursday, December 11, 2025, at Manila Polo Club in Makati City. NONOY LACZA
Editor: Jennifer A. Ng
December 12, 2025
SEC orders Trading Point to stop offering securities
By VG Cabuag @villygc
THE Securities and Exchange Commission (SEC) has issued a cease-and-desist order against Trading Point Holdings Inc., a company being endorsed by boxing icon Emmanuel D. Pacquiao Sr., for offering securities in the country without the necessary licenses.
The company operates under the name XM Group, XM.com and XM Global Ltd. Trading Point runs two brands— Trading.com, which operates in Europe, the United States, the United Kingdom and Australia and XM, which operates several entities in other regions. The said website directs all its us-
ers to the XM.com domain, which sells its products and services in the Philippines, which include, among others, trading in derivatives and stock derivatives.
“The fact that XM has tapped and made available the local banks and e-wallets as its payment partners clearly shows that investors in the Philippines are primarily its target market,” the SEC said.
“XM has also tapped the services of Emmanuel D. Pacquiao Sr., a Filipino boxing icon, and Jonathan Lou Reyes, to effectively market its unregistered securities and products to the investing public. XM has uploaded in its YouTube account the videos of Manny and Jonathan encouraging the investing public to invest with XM, and providing a tutorial on trading, respectively.”
The SEC said it found substan -
tial evidence that the company was offering and selling unregistered securities in the Philippines without the requisite license, which is in violation of the Securities Regulation Code.
The company is directed to cease its operations “from further engaging in the unlawful and unauthorized offer and/or sale of securities and/or any other similar or related acts until the requisite registration statements are duly filed with and approved by the commission and the corresponding license and/or permit to offer or sell securities are issued”.
“The registration and regulation of securities, as well as the individuals involved in these activities, are essential due to the significant public interest inherent in such transactions,” the SEC said.
SMIC cautiously optimistic about 2026
THE SM Group is optimistic that 2026 would be better for the conglomerate after the country grappled with corruption issues that eroded the public’s confidence in government this year.
“The next year will not be so bad if we think more positively,” Teresita T. Sy-Coson, SM Investments Corp.’s (SMIC) vice chairperson, said. “We just have to do our work in spite of all the political noises; so, for us we’re going to continue what we have planned and I think we will be able to achieve our targets next year.”
SMIC’s listed banking unit BDO Unibank Inc. said the roller coaster ride is not over yet for the Philippines.
“2025 was a rollercoaster year,”
Nestor V. Tan, the bank’s president and CEO, said. “We started out very strong, honestly. I’m talking about the bank and the business environment. We had a very strong fourth quarter last year, it was carrying over.”
“And then as things are starting
to stabilize, things are starting to improve, then what happens? We have geopolitical risks, problems,” Tan added.
As things are starting to settle and supply chains are normalizing, the flood control controversy happened.
“Now the mood is, I would say, at best, somber. I don’t know, you feel the same way and business is that way,” he said. “But the good news is that we still have each other.”
He noted that 2025 has been tough for business. “And we continue to think that 2026 will end the same. Because the business is uncertain.”
Tan said, however, that it’s not all doom and gloom, as there are still “pockets of opportunities.”
For one, he said he expects business in the provinces will continue to expand. He noted that the provinces are now growing faster than Metro Manila on the average.
“We still see some activity in infrastructure, in energy and the like.
People continue to invest. It’s just not a general positive move across the board.”
SMIC reported a net income of P64.4 billion in the nine months of the year ending September 30, up 6 percent from P60.9 billion last year. Consolidated revenues inched up 4 percent to P482.3 billion, from P462.5 billion a year ago.
Banking accounted for the largest share of SMIC’s net income at 50 percent followed by property at 28 percent, retail at 15 percent and portfolio investments at 7 percent.
SM Retail’s net income reached P12.2 billion, some 5 percent lower than last year’s P12.8 billion.
Retail revenues, meanwhile, grew 5 percent to P 318.1 billion from P301.8 billion in the previous period.
BDO, the country’s largest lender recorded a net income of P63.1 billion, 4 percent higher than last year’s P60.6 billion due to the sustained performance of its core business segments. VG Cabuag
Camp John Hay has new EV charging stations
By Andrea E. San Juan @andreasanjuan
ACMobility, Ayala’s mobil -
ity arm, has rolled out new electric vehicle (EV) charging stations across three different locations within Camp John Hay, a property of state-run firm Bases Conversion and Development Authority (BCDA) in Baguio City.
This developed as ACMobility partnered with BCDA and the John Hay Management Corp. (JHMC) to accelerate the development of EV charging stations (EVCS) in Camp John Hay.
“Spread out in three different key locations within Camp John Hay--Garden Wing, Public Parking Area, and Golf Club, these hubs are equipped with modern charging facilities that cater to different EV needs,” BCDA said in a statement on Thursday.
With eight new charge points available, including Baguio City’s only DC Fast Charger to date, BCDA said travelers heading up to Baguio for the holiday break can “recharge conveniently and travel with confidence.”
This new addition is on top of the existing EVCS at Camp John
Hay Technohub, with more AC and DC chargers to be operational in the next couple of months.
According to BCDA, the Garden Wing hub will feature a 60kW DC Fast Charger capable of powering vehicles in as fast as 30 minutes alongside two 22-kW AC chargers.
Meanwhile, the Public Parking Area will have two 22-kW chargers and the Golf Club hub will include two 7-kW chargers.
All chargers are supported by the Evro app which will allow users to locate stations, check availability, charge and pay with ease.
BCDA President and CEO Joshua M. Bingcang said introducing accessible EV infrastructure in Camp John Hay will provide “more convenient” travel experience for residents and tourists.
“This partnership marks a milestone in Camp John Hay’s pursuit of sustainable and ecofriendly tourism,” Bingcang said.
“By introducing reliable and accessible EV infrastructure at a location as strategic as Camp John Hay, we are creating not only greener and more convenient travel experience for residents and tourists, but also supporting
ACMobility’s mission to provide accessible and reliable EV charging across the country.”
Looking ahead, the state-run firm said ACMobility is also on track to deploy more charging points nationwide as part of the firm’s “continuous” efforts towards creating the Philippine EV Spine, a seamless network connecting cities and provinces to support the country’s transition to electrified mobility.
Carla Buencamino, Head of Mobility Infrastructure at ACMobility, said the Ayala’s mobility arm is accelerating the rollout of its nationwide eV network to reach more cities across the Philippines.
“By expanding our network and partnering with organizations like BCDA, we aim to provide reliable and accessible charging experiences that make it easier for Filipinos to adopt cleaner mobility solutions,” added Buencamino.
Apart from being the mobility arm of the Ayala Group of Companies, ACMobility is also operating the largest dealer networks of Isuzu, is the official distributor of Kia, and BYD passenger cars in the Philippines.
B1
projects
THE Department of Energy (DOE) said Thursday it is willing to sit down with the Philippine Competition Commission (PCC) and hold discussions on delayed Green Energy Auction Program (GEAP) projects.
“While the DOE cannot comment on the specifics of individual cases at this time, the DOE reiterates that all developers are treated equally under the rules, and we remain ready to coordinate with the Philippine Competition Commission or any competent authority on matters within their mandate,” the agency said when sought for comment.
To recall, the DOE has been cracking down on stagnant projects as more investors seek entry into the country’s expanding energy market. In 2024, the DOE began removing idle RE projects from its pipeline, starting with about 105 developers identified for non-progress.
“Consistent with the GEAP Terms of Reference and the revised omnibus renewable energy guidelines, the DOE is undertaking the appropriate actions, which may include the for-
feiture of performance bonds and termination of contracts after due process, for any developer that fails to meet its obligations.
Stalled capacities will not be allowed to block the country’s clean energy transition, hence non-performing projects are being cleared from the pipeline, and their capacities will be made available to other qualified developers through other mechanisms,” the DOE said. Under GEAP rules, winning bidders must maintain performance bonds equal to 20 percent of project cost multiplied by offered capacity. The PCC may review the matter under the Philippine Competition Act, where violations carry administrative fines of P50 million to P100 million.
Based on filings, Solar Philippines Power Project Holdings Inc. (SPPPHI) and its subsidiaries were awarded 42 RE service contracts from 2017 to 2022. Data has it that 24 have been terminated, relinquished, or abandoned. Another seven GEAP projects and three non-GEAP projects are officially non-compliant.
Lenie Lectura
By Lenie Lectura @llectura
ALTERNERGY Holdings Corp. (Alternergy) said Thursday five of its renewable energy (RE) projects for delivery in 2028 could be accommodated by the national grid.
This after it received approval from the National Grid Corporation of the Philippines (NGCP) for the conduct of system impact study (SIS) for all five solar and wind power projects it won under the Green Energy Auction 4 (GEA-4) Program.
“The NGCP approval of the SIS is a significant step to move our projects forward. It confirms the grid’s capability and readiness to accommodate and integrate our projects into the system,” Alternergy President Gerry P. Magbanua said.
The completion and approval of the SIS is a critical deliverable of the post-auction documents under GEA-4.
“With the NGCP SIS approvals, we are pleased to note that we have successfully submitted to the DOE the post-auction requirements,” he said. “We are excited to hit the ground running and start the development works.”
The five RE projects have a combined capacity of up to 500 megawatts (MW). These include the Liberty Solar Floating Projects Phase A and Phase B in Luzon and the Kalandagan Solar Power Project with Battery Energy Storage System in Mindanao. For
wind, these are the Tayabas North Wind Energy Project in Luzon and the Alegria Wind Power Project in the Visayas. The new projects represent Alternergy’s next phase of development pipeline and boost Alternergy’s goal of One Green Gigawatt by 2030. Meanwhile, the company said its Tanay and Alabat wind projects, totaling 200MW, are targeting commercial operations date in July 2026.
“Management expected to begin booking revenues from these projects around that same timeframe, the first half of 2026. It was further explained that initial revenues will be generated through the testing and commissioning of each turbine, with full contributions realized once all 24 turbines across Tanay and Alabat are operational.”
Alternergy reported last month that it recorded a 26-percent increase in net income in the first quarter of its fiscal year 2026, driven by the steady output of the 12.5-megawatt peak (MWp) Kirahon Solar Farm in Misamis Oriental.
From July to September, net income reached P22 million due to the stable performance of Kirahon Solar. This growth was achieved despite lower-than-expected operating revenues from the Palau Solar PV+Battery Energy Storage System, which was affected by reduced solar irradiation. In the same period a year ago, net income stood at P17.44 million.
Banking&Finance
SEC sets cap on lending, financing firms’ charges
By VG Cabuag @villygc
THE
Securities
and Exchange Commission has limited to 12 percent per month on interest rates and related fees charged by financing and lending companies for specific loans.
According to a new memorandum circular issued on December 10 by the SEC, the interest rate translates to about 0.40 percent per day.
The rate refers to the total nominal interest paid, plus other fees and charges, excluding penalty and late payment fees.
“The recalibrated interest rate cap offers a balanced and sustainable framework that considers the interests of both lenders and borrowers, consistent with the commission’s mandate of promoting consumer protection while also ensuring the viability of legitimate financing and lending companies,” SEC Chairman Francis E. Lim said.
The Monetary Board, in consultation with the SEC, previously set the ceiling for effective interest rates at 15 percent per month, or about 0.50 percent per day.
Lending and financing companies may also not charge nominal interest rates exceeding 6 percent per month, equivalent to 0.20 percent per day.
The ceiling for penalties for late and non-payment is fixed at 5 percent per month on the outstanding scheduled amount due, while the total cost cap is set at 100 percent of the total amount borrowed, applying to all
interest, other fees and charges, and penalties, regardless of the time the loan has been outstanding.
The recalibrated ceilings cover unsecured, general-purpose loans offered by financing and lending companies with principal amounts not exceeding P10,000, and payment terms of up to four months. These will apply to loans entered into, restructured or renewed beginning April 1 next year.
Any attempt to circumvent the interest rate cap through restructuring, repackaging, splitting of loan amounts, re-characterization of fees, shifting of loan tenor, simulated collateral, sham guaranty arrangements, imposition of disguised charges or any analogous scheme, will constitute a violation of the memorandum circular, the SEC said.
The SEC may impose administrative sanctions against financing and lending companies, as well as their responsible officers, Financing and lending companies that fail to comply with the interest rate limits will be meted with an administrative penalty of P50,000 for the first offense.
For the second offense, the SEC may impose a fine equivalent to at least twice the penalty imposed for the first offense, but not more than P1 million, and/or suspend a company’s financing and lending activities for 60 days.
For the third offense, the SEC shall revoke the erring company’s certificate of authority and certificate of incorporation.
Japan MICE Expo ’25: Strengthening global linkages through biz events
Part one
UPON invitation of the Japan MICE Expo Executive Committee, of which my long-time friend and colleague, Shogo Kaneda, is a member, I attended for the second consecutive year the “Japan MICE Expo 2025” held November 27 to 28 at the International Exhibition Center (Intex), Osaka. I represented the Asia-Pacific Federation of Association Organizations in the event, which once again demonstrated Japan’s strategic commitment to elevating its position as a leading hub for global meetings, incentives, conferences and exhibitions (MICE).
The 2025 edition was built on the momentum and international visibility generated by “Expo 2025 Osaka.” Leveraging global attention, enhanced infrastructure and strengthened regional collaborations resulting from the World Expo, this year’s MICE Expo provided a comprehensive platform for showcasing Japan’s diverse destinations, venues and capabilities to an international audience. Organized by the Japan MICE Expo Executive Committee, which is composed of the Osaka Convention & Tourism Bureau, the Osaka International Convention Centre Corp. and Intex Osaka, the two-day trade fair achieved a combined attendance of 2,802 participants. The turnout reflected strong local and international confidence in Japan’s MICE ecosystem at a time when the industry is reshaping amid global shifts in business models, technology adoption and sustainability demands.
A hallmark of this B2B event was the diversity of stakeholders it brought together. Representatives from local and regional governments, convention and visitors bureaus, event venues, hotels, travel agencies, professional conference organizers and destination management companies convened to explore new opportunities, exchange insights and strengthen partnerships. This broad participation underscored the Expo’s role in connecting regions, tourism and international exchange through the power of business events. The program featured an integrated set of activities designed to facilitate collaboration and drive industry development. Pre-matched business meetings between Japanese suppliers and invited international buyers provided a targeted space for discussing future MICE events
PHL gross gaming revenues seen sliding to ₧400B in ’26
By Reine Juvierre Alberto @reine_alberto
THE Philippines could see its gross gaming revenues (GGR) dip in 2026, as land-based casino earnings show signs of plateauing and strengthened regulations on online gaming disrupt revenues.
On the sidelines of G2E Asia, Philippine Amusement and Gaming Corp. (Pagcor) Chairman and CEO
Alejandro H. Tengco said the GGR could settle at low P400 billion for next year.
“The environment has changed. Land-based casinos now, their revenue has already plateaued or gone
down a little. Number two, online gaming was hit by what happened with the e-wallets,” Tengco said in a mix of English and Filipino.
Although revenues from online gaming have shown signs of “recovery” after the delinking of e-wallets from gaming platforms, Tengco said the sector has regained only about 10
to 15 of the revenues that were lost during the disruption.
In August this year, the Bangko Sentral ng Pilipinas (BSP) ordered ewallets to sever links to online gambling platforms to reduce the risks of addiction, fraud and financial harm.
The move has resulted in a 50-percent decline in online gaming transactions within three days of the central bank’s order, according to the Pagcor.
The delinking has also resulted in “softened” revenues in August and September, as operators recalibrated their systems and players adjusted to the new requirements, Tengco said.
Still, the e-games and e-bingo segment posted a 17.4-percent growth in the third quarter of 2025.
Gaming revenues from landbased casinos, meanwhile, accounted for nearly half of the GGR in the third quarter, despite its 10.2 percent drop to P45.56 billion from P50.72 billion
in the same period in 2024. Tengco expressed optimism that integrated resort casinos will see a resurgence, driven in part by the easing of visa issuances in some countries, such as China and India.
“If tourists will return, land-based casinos will stabilize,” Tengco said. As for the e-games sector, Tengco added, there’s no doubt about its growth. “Online gaming worldwide is growing exponentially.”
The Philippines’s GGR settled at P309.271 billion in the first three quarters of the year, up by 16.46 percent from P265.549 billion in the same period in 2024.
However, the growth in the egames sector was mainly due to strong July 2025 figures, as revenues in August and September declined following the mandatory delinking of e-wallets from legitimate gaming platforms.
GOCCs told to establish online transparency portals CIMB app seen to lure investors
ALL government-owned and -controlled corporations (GOCCs) are now mandated to establish online transparency portals to ensure that key information are accessible to the public.
In a statement on Thursday, the Governance Commission for GOCCs (GCG) said it issued a joint memorandum circular (JMC) with the Department of Information and Communications Technology (DICT) to advance the government’s digitalization and opengovernment efforts.
in Japan. These sessions proved particularly valuable, enabling structured conversations with stakeholders seeking to bring business events to Japan’s regions. Seminars offered thought leadership on critical industry topics, including destination marketing, hybrid event strategies and sustainable event management, areas of increasing importance as the MICE sector adapts to shifting attendee expectations and environmental responsibilities. Networking receptions fostered a more relaxed environment for relationship-building, complementing the formal business sessions.
The Expos exhibition area was divided into two main zones: the MICE Destination Expo, which highlighted cities and prefectures across Japan promoting their unique selling points and the Exhibition & Event Support Expo, which showcased suppliers, technologies and services essential to hosting successful events. Together, they created a one-stop-shop for event planners seeking comprehensive solutions.
This year’s successful staging reaffirms Japan’s aspiration to deepen domestic and international collaboration and to reinforce the role of MICE as a driver of competitiveness and long-term societal value.
For associations, events like the Japan MICE Expo offer rich learning and networking opportunities. They provide insights into global trends in event design, sustainability and attendee engagement, elements essential for modern association management. Moreover, attending such expos enables associations to scout venues, forge partnerships and explore new destinations for their own conferences and meetings, strengthening their capacity to deliver high-value member experiences.
Octavio Peralta is the founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BusinessMirror. E-mail: bobby@pcaae.org
Key corporate governance, financial and operational information—in a clear, centralized and user-friendly format— must be made accessible by GOCCs. Specifically, GOCCs must create an online transparency portal accessible through a clearly visible link or button on their official website homepage.
The portal must be publicly accessible without login credentials and include regularly updated disclosures in institutional matters, board and of -
ficers, financial and operational matters, governance matters and compliance reports.
The DICT, for its part, will issue a detailed implementing technical guidelines, covering open data formats, accessibility requirements, cybersecurity standards, and integration capability with the national Open Data Portal.
The agency will also provide technical assistance upon request.
Meanwhile, the GCG will monitor compliance as part of the Good Governance Condition under GCG Memorandum Circular No. 2024-01 or the Enhanced Performance Evaluation System for the GOCC Sector.
“[T]his is one big step forward in our efforts to promote and foster transparency and accountability in the GOCC sector,” GCG Chairman Marius P. Corpus was quoted in the statement as saying.
The GOCCs must submit their portal URLs and compliance checklists within 90 days from issuance of the JMC.
Reine Juvierre S. Alberto
BanKo to boost payment infra
THE microfinance arm of the Bank of the Philippine Islands, BPI Direct Banko Inc. (BanKo), announced last Thursday of selecting ACI Worldwide Inc. to advance the Ayala-led bank’s payment infrastructure.
Under the partnership, BanKo will implement ACI’s issuing and acquiring platform, enabling banks, fintechs and merchants to deliver fast, omnichannel transaction processing while staying compliant with evolving regulatory standards.
“We use technology to improve the way banking works for Filipinos. By advancing digital payment solutions with our customers and communities in mind, we aim to make financial services more accessible and empowering for Filipinos nationwide,” Rodolfo K. Mabiasen, the company’s president, said.
“Our switching network is one of the most important touchpoints for our customers. This partnership with ACI is crucial in building a reliable, future-ready payments system,” Mabiasen added.
ACI’s platform enables realtime transaction processing across multiple channels, including ATMs, POS and mobile.
Its modular architecture provides flexibility to extend to new services and products and supports the fast rollout of new features and functions. With its open architecture and robust security features, the platform enables financial institutions to reduce costs, accelerate innovation and deliver seamless customer experiences.
This initiative aims to replace the existing switch to enhance BanKo’s business capabilities. By aligning with customers’ evolving expectations and managing increasing transaction volumes, the bank will leverage the core attributes of ACI’s software that will serve as the cornerstone of this endeavor.
The new platform is expected to go live by the end of first quarter next year, marking a significant milestone in the bank’s digitalization efforts to enhance customer banking experience and deliver faster, more reliable payment services to millions of Filipinos nationwide. VG Cabuag
THE CIMB Bank Philippines Inc. announced the roll out this month of its “DragonFi Save,” which the lender describes as a “fully-integrated” digital savings account within an investment app, offering traders instant access to funds for investing and withdrawals.
According to the CIMB Bank, the app was created after the digital lender partnered with DragonFi Securities Inc. The partnership, CIMB revealed last Thursday, would allow traders to move their funds between their savings account and their DragonFi trading account without delays, fees, lockouts or maintaining balance requirements.
“This means that buying stocks on DragonFi is now easier: no need to transfer funds from another bank just to top up your account,” read the digital bank’s statement.
“Withdrawing the proceeds of your investment is also more
convenient, as they will no longer be disbursed via check,” CIMB added, noting that the funds will be instantly deposited directly into the DragonFi Save account. Deposits placed in DragonFi Save will also earn a 2.5 percent base annual interest, credited monthly for traders to grow their idle funds between trades.
CIMB said the savings account is available to fully verified DragonFi individual account holders who are Filipino citizens with a valid government-issued ID. Account opening and approval are processed in real time within the app.
“DragonFi Save is meaningful stride for both companies’ mission to democratize investing in the Philippines, offering digital solutions for a more seamless user experience for both neophytes and seasoned investors,” CIMB said. The bank began to make DragonFi Save available this month.
Reine Juvierre S. Alberto
Octavio Peralta
A ssociation World
A guide to good manners at the retail counter this holiday season
By Tracee M. Herbaugh The Associated Press
AS shoppers flood stores across the country during the year’s biggest shopping season, retail workers are bracing for what many describe as the most demanding—and often demoralizing— stretch of the job.
“It magnifies everything,” said Nick Leighton, host of the podcast “Were You Raised by Wolves?,” which he co-hosts with comedian Leah Bonnema. Together, they dissect etiquette and the subtleties of social behavior.
“People are stressed, they’re busy, they’re frazzled,” he said. “When that happens, we tend to forget other people exist.”
Whether it’s gridlocked parking lots or shelves picked clean, the holiday retail environment can become a pressure cooker where manners evaporate quickly.
November and December have long driven retail sales, prompting companies to hire large numbers of seasonal workers to manage the surge. These workers often absorb the brunt of shoppers’ frustration. Some customers treat employees as extensions of a corporation rather than as people.
This year, there might be even fewer employees to handle crowds of holiday shoppers. Companies say they could cut back on seasonal workers because of economic uncertainty, while at the same time shoppers are expected to spend more than they did last year.
“Yelling at a worker isn’t doing anything,” Leighton noted. “Everyone else is busy, too.... Your shopping isn’t more important than the next person’s.”
Here are some expert suggestions on how customers can be kinder, more polite and more empathetic toward the people helping to execute all those holiday lists.
MANNERS APPLY EVERYWHERE
PEOPLE who behave courteously generally do so everywhere, while those who are rude in stores often have similar issues in their personal lives, etiquette consultants say.
“We do not pay retail workers to be a therapist, a social worker or a punching bag. It’s not appropriate, and it’s not fair,” said Jodi R.R. Smith, president of Mannersmith Etiquette Consulting in Massachusetts. Long before she advised companies on etiquette, Smith worked several holiday seasons at a Hallmark store.
PLAN YOUR SHOPPING TRIP AND LEAVE TIME
SMITH advises shoppers to plan ahead—knowing who is on their list, which stores they need to visit and when they will go. “Set yourself up for success,” she said. “Bring water or a snack. Do not go hungry.”
Timing matters as well. “Ask yourself, ‘When is the best time to go?’” she said. “Weekends are busier, lines are longer and parking is tighter. If possible, go on a Wednesday morning when the store opens.”
ESTABLISH A LITTLE RAPPORT
SMITH suggests making friendly eye contact with workers, offering a greeting and using humor to diffuse tense moments. If someone in line becomes irritable, she said, a gentle joke about needing a nap can reset the mood.
“We don’t have control over others’ behavior, but we certainly do over ours,” she said.
Shoppers can help reduce frustration by asking questions—and recognizing that workers may not have all the answers, said Elizabeth Medeiros, 59, who spent more than 35 years in retail in New York and the Boston area.
Some companies are acting preemptively. Delta Airlines is encouraging kindness between customers and employees with a “Centennial Cheer” program. It says it will recognize “100,000 acts of kindness” with Holiday Medallion cards, which can be redeemed for gifts.
MANAGE EXPECTATIONS
CUSTOMERS often assume store employees can control everything from inventory and discounts to restocking speed and even the behavior of other shoppers, she said.
Holiday nostalgia with Pan De Manila
There’s a certain kind of warmth in Filipino Christmas mornings: the soft glow of parol lanterns still hanging from the night before, the sound of children’s laughter as gifts are unwrapped, and the unmistakable aroma of warm pandesal shared around the table. For 25 years, Pan de Manila has been part of these cherished rituals, its familiar brown paper bag quietly witnessing stories of family, food, and friendship.
This 2025, Pan de Manila continues that tradition with a special holiday paper bag designed by 29-year-old artist Jerika See, whose whimsical, topview illustrations capture the richness of the Filipino Christmas—three generations gathered around the Noche Buena spread, pets curled by the table, and the simple joy of sharing bread that has long been a staple of the Filipino home.
An alumna of the University of Santo Tomas who paused a career in architecture to pursue painting full-time in 2020, Jerika is known for her top-view artworks that highlight everyday Filipino stories with warmth and detail. On her Instagram page, her paintings often feature festive table spreads, cozy interiors, and colorful family moments, perfectly echoing the spirit of the holidays.
“Pan de Manila has always been part of my life. We would have pandesal
They can’t.
“Customers are focused, especially during the holidays,” said Medeiros, a former district sales manager and longtime store manager. “They’re checking off lists and looking for deals, and anything that interferes with that throws them off.”
Holiday work is already tough for staff under the best of circumstances, she noted. “Everyone is often stretched thin. Breaks get skipped, shifts get extended unexpectedly, and six-day workweeks become common.”
As Smith puts it: “Clerks are not the CEO. Don’t expect someone making hourly wages in December to change a store policy you don’t like.”
Training workers to defuse tension
Adam Lukoskie, executive director of the National Retail Federation Foundation, emphasized that most customer interactions remain positive.
“In the news you might see a couple of incidents, but most experiences are OK,” he said. “We work hard to provide a high-quality environment.”
The industry has invested in new training programs to prepare workers for tense encounters, Lukoskie said.
The foundation’s RISE Up skills-training courses now reach more than 80,000 people annually. “It gives associates the tools to provide customer service and to understand that an angry customer is usually mad at the problem, not at them,” he said.
Above all, he said, shoppers should reframe how they view the person behind the counter.
“Act as if the person helping you is your daughter or son, or your mother or father. Not just someone there to do a task for you.”
every day, often from the D. Tuazon branch before heading home. I grew up looking forward to their paper bag artworks each year, even asking my mom to buy more bread just so I could collect the paper bags. As a child, I would cut them out and use them for arts and crafts,” she recalls. “That timeless presence inspired me while designing this year’s paper bag: the idea of pandesal as something woven into every Filipino occasion.”
Her 2025 Christmas paper bag design brings this memory to life: a festive Noche Buena table viewed from above, glowing capiz parols, flowers, and the warmth of family gathered together. Even pets and Filipino traditions like “mano po” and the sharing of pandesal find their place in her composition.
Over the years, Pan de Manila’s Christmas paper bags have become eagerly awaited holiday “must-haves,” with many customers collecting them as keepsakes. Each edition reflects not only the artistry of its featured artist but also the enduring story of Filipino traditions: parols, Simbang Gabi, fiestas, and the presence of pandesal. Through these artworks, Pan de Manila has built a living gallery of Filipino artistry that celebrates the season year after year. More information is available at @PandeManilaOfficial in social media.
You’ll prosper from a learning experience. HHH
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GEMINI (May 21-June 20): Carry on, but don’t be fooled by what others do or say. Someone will mislead you if it benefits them. Stick to what works best for you, and don’t stop until you are happy with what you achieve. You’ll do your best if you work alone. HHH
dCANCER (June 21-July 22): Speak up and ask questions, then change what’s necessary based on what you discover. A partnership will require you to set boundaries or rules to stop infringements that can lead to difficulties. Understanding and trust are mandatory to avoid a communication breakdown. HHHHH
eLEO (July 23-Aug. 22): Participate in something that requires energy, skills or connections that can help you get ahead. A challenge will prompt you to redefine what you want to do next. Don’t let the changes others make mislead or cause stress or tension. HHHHH
fVIRGO (Aug. 23-Sept. 22): Learn from an experience you have, and change what is no longer working for you. Set high standards and put your plan in place. Use your insight and discipline to gain alliances that have something to contribute to your cause or concern. HH
g
LIBRA (Sept. 23-Oct. 22): Observe who is doing what, and align yourself with those you feel you have the most in common with. You’ll achieve more if you avoid arguing over trivial matters that don’t concern you. Know where you fit in, and you’ll reach your expectations. HHHH
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SCORPIO (Oct. 23-Nov. 21): Make suggestions, spin things in your favor and get on with your day. Opportunities come to those willing to go with the flow and turn negatives into positives. Think outside the box and see what happens. Do more prep work and spend less money. HHH
iSAGITTARIUS (Nov. 22-Dec. 21): Listen carefully and define your response to protect your space and plans. A joint effort will make your life easier and lower your expenses. Look into any information you think could be misleading before you move forward. HHH
j CAPRICORN (Dec. 22-Jan. 19): Broaden your outlook, check investments or implement updates that lower your overhead. A positive change at home will give rise to new beginnings. A commitment seems promising, and love and romance are favored. HHH
kAQUARIUS (Jan. 20-Feb. 18): If you put in the time, you’ll gain access to a work-related opportunity. Get what you want in writing. Do what you can to ease stress and avoid temptation. Attending a festive networking event will require restraint and test your moral compass. HHHH
lPISCES (Feb. 19-March 20): No one is perfect. Don’t believe everything you hear or get swept
Ballet Manila’s ‘Holiday Cheer Series’ returns with Snow White
BALLET Manila continues its cherished Holiday Cheer Series, a family oriented program that has become a staple of the Christmas season since 2022. This year, audiences are invited to experience the enchanting and timeless story of Snow White, running from December 25 to 29, 2025 at the Aliw Theater in Pasay City.
For Ballet Manila’s CEO and artistic director, and Snow White choreographer Lisa Macuja Elizalde, the Holiday Cheer Series has brought nostalgic tales to life year after year, making ballet accessible entertainment for everyone and an experience that families can share.
“The Holiday Cheer Series is our way of bringing people together through ballet,” shared Lisa. “These productions are not only about artistry, but about using ballet to tell stories that parents and children can enjoy together, year after year.”
This year’s Snow White features two alternating casts in the lead roles for the very first time. Real-life couple Abigail Oliveiro and Mark Sumaylo bring their chemistry to the stage, while Nanami Hasegawa and Romeo Peralta offer a fresh pairing that highlights the production’s spirit of renewal and discovery. Together, they embody the themes of love, resilience and hope that make Snow White a perfect holiday story.
With enchanting choreography, vibrant storytelling, and performances that capture the spirit of the season, Ballet Manila invites audiences to make ballet part of their Christmas celebration by watching Snow White at Aliw Theater from December 25 to 29 at 4PM. For tickets, visit www.ticketworld.com.ph. More information can be found at www.balletmanila.com.ph.
The painting that introduced ‘Star Wars’ to the world fetches $3.9M at auction
THE painting that introduced Star Wars to the world nearly 50 years ago—and was reproduced in an iconic movie poster—sold at auction on Wednesday for $3.875 million.
The acrylic and airbrush painting by the artist and movie poster designer Tom Jung first appeared in newspaper advertisements on May 13, 1977, a little less than two weeks before the space epic created by George Lucas opened. It also adorned billboards, magazine ads and theater programs.
“For most of America, this was the first time they got a glimpse of the galaxy far, far away,” said Charles Epting, the director of pop culture and historical consignments at Heritage Auctions. Star Wars producer Gary Kurtz kept the original painting and hung it on his office wall before passing it down to his daughter. The Kurtz family later put the work up for sale at the Dallas headquarters of Heritage Auctions, where bidding started at $1 million.
The sale set records for highest selling piece of memorabilia from the film franchise, and in general, for any movie poster artwork, Epting said. The buyer, whose winning bid came in through the website, has chosen to keep his identity private. Prior to this, the highest price for franchise memorabilia was Darth Vader’s lightsaber which sold at auction for $3.6 million. Star Wars is one of the highest-grossing movie franchises of all time since its 1977 debut, starring Mark Hamill as Luke Skywalker. The original was followed by sequels and prequels, and spawned offshoot books, movies and other series. Its fans span the globe.
One side of the painting shows Skywalker holding up a lightsaber behind Princess Leia. Darth Vader looms over them in the background. On the other, a team of X-wing starfighters is launching an attack. Han Solo and Skywalker are depicted receiving medals. The painting is not just film memorabilia but is also a cultural artifact and part of American history, Epting said. The emotional connection that people form with Star Wars movies also helps explain the sales price, he said. “Anyone who’s seen these movies or the marketing materials around it—you see this piece, your heart starts racing,” Epting said. AP
Re-viewing terror, fantasy and the phantasm
IT’S that time of the year—the season is ending.
What does the universe bring but a procession of images to rekindle a knowledge of ancient lore and legend, the wellspring of Filipino komiks. The Bakunawa is back, the mythical monster from whose might, bosom and imagination springs forth tales that teach us where we came from and where we are going.
It is a privilege for a cineaste to sit through works that, to follow Aldous Huxley, “the more we know the more fantastic the world becomes, the profounder (is) the surrounding darkness.”
Happening at present in the city of Bacolod but continuing in Iloilo and Manila at later dates is the 12th edition of the Bakunawa Festival with films that are described by its founder and programmer Elvert Bañares as “fabulous, fascinating, freakish, fun, fatal and fearless.”
Two short films have seduced the critics who were invited to select the outstanding entries.
One of them is a black-and-white 14-minute piece from Singapore called Portrait by Daniel Tan Wen Long. The photographer has inherited from his father a singular job—that of a studio that serves as a halfway site between this life and eternity. The film opens with the man coming home from this studio to his wife who , it seems, urges him to allow her to visit him where he works. He tells his wife she cannot do that. There is sadness in how the man explains this situation to the wife. We shall never learn until that moment he opens the door to find his wife face to face with him. Then and there, he knew the end had come. Poignant is the color of terror in this cinema.
From Hungary comes an animation by Tamas Rolfesz. Set in a fictional civilization that reminds one of Aztec/Incan empires, the action follows a solitary figure as it escapes his own death during a sacrificial ceremonial. He then goes through a maze of tunnels where a serpent-like coil becomes part of his journey to freedom and transformation. The movement through space is in itself a joy and challenge to behold as we rally this being through a path that is seemingly endless and yet makes sense.
Gokotta from Spain is a different sense of discovery as Samuel remembers a childhood memory of stumbling upon a village of gnomes in the woods. Years later, he would sadly find only remnants of this village. Just as he was about to give up, he saw a small hole—a sort of door—in an old tree. In an act that is both magical and meta-
phorical, we are assured how our childhood after all is naturally enchanting. And that all we need to do is look closely always for those small portals to happiness and joy and they are always there. Gokotta is by Kay Oceans.
A different kind of childhood is disturbed in Colombia’s contribution to phantasm and this comes in the form of The Devil Room. Here, a boy witnesses his grandfather suffering from an affliction where strange creatures dance all over the body of the old man. Then one night, the boy approaches the demons and he discovers the mystery of life over death and many more. The film is by Duban Pinzon.
An old ritual where the life of a chicken is offered turns into a test about how we humans value life. In an isolated village, a young woman is subjected to this test and we realize how the human group has evolved. This folk mystery is from Austria and is directed by Lukas Ladner.
The world is coming to an end in a sci-fi horror drama from Denmark crafted by Michael Nichols Koppen Kunov. What makes this last day on earth for this teenager tragic is that he bids goodbye to his disabled sister on her birthday.
An origin tale is at the center of this film called The River People. This film from Malaysia imagines an ancient Melanau kingdom where an ordinary fisherman undergoes an initiation where he sees his sister taken as a sacrifice to a ruler. The young man opts to defy fate and authority and thereby creates his own destiny as a putative warrior-king. The film is directed by Peter Toyat.
Alden Richards 15 years and beyond: Moving forward with a grateful heart
GMA Network and Sparkle GMA Artist Center homegrown talent Alden Richards is celebrating his 15th year in the industry with a strong drive to give back to the people who have supported him since day one. This coming weekend, he is set to celebrate a special night with them through a fanmeet “ARXV: Moving ForwARd”, scheduled on December 13 at the City of Santa Rosa Laguna Multi-Purpose Complex. “This is an event about gratitude, appreciation, and honoring the people who have been part of my 15-year journey,” Alden shared, emphasizing how he is personally involved in crafting the event highlighting every important detail of his career.
From starting out in supporting roles as one of the industry’s breakthrough artists, Alden has become one of the most sought-after actors of his generation, starring in countless TV series and movies. For him, being able to share meaningful stories, portray significant roles, and evoke emotions in audiences has helped him understand himself better and define his place in the industry. Brands and endorsements continue to stay because of his generosity and commitment. With the opportunities that came his way, Alden learned how to use his platform to help others.
For many years, Alden has actively shared his success in various organizations and through his own AR Foundation, which is dedicated to helping those in need and providing scholarships to students. “I think the most pivotal ones are the lives that I was able to touch and kaya siguro ako nalagay dito sa sitwasyon, I think my mission is to be a vessel and give out all the blessings that’s coming in the way,” Alden reflected when asked about the highlight of his 15 years in the business. He added,
“Iba kasi yung joy and happiness that I feel whenever I'm able to help in my own small way sa mga taong nangangailangan, especially in terms of education. I think yun yung maibibigay ko sa kanila—something that cannot be stolen from them, and that they can carry with them until tumanda na sila.”
Even before staging a fan meet, Alden celebrated his anniversary with an outreach tour, “ARXV Care-a-van” last Sunday, December 7, where he visited institutions closest to his heart: Tahanang Walang Hagdanan, East Ave Medical Center and Philippine Animal Welfare Society (PAWS) Animal Rehabilitation Center. For him, being involved in such activities is his way of giving back to the community.
Recently, Alden Richards was hailed as one of Anak TV’s MAKAbata Star Hall of Famers,
alongside Dingdong Dantes, Marian Rivera, Atom Araullo, Drew Arellano, Kim Atienza, Kara David, Vicky Morales and veteran journalists Mel Tiangco, Jessica Soho and Mike Enriquez. “Maraming salamat po for the continuous recognition since I started my career 15 years ago. I think it’s very essential for us public figures to be given this kind of recognition so that it can ground us and to give us even more fuel to continue what we have started to do.” He underscored that he will continue to use his platform in spreading kindness and social responsibilities that will give inspiration to others—especially the youth who look up to him.
Moreover, as part of Sparkle’s advocacy campaign, Alden even led the “Click Kindness” initiative, which aims to spread kindness both online and offline. Given the challenges the country is facing, he believes that now is the perfect time to rethink and control our actions toward one another.
Moving forward, Alden believes there is much more in store for his career, and he is excited for what lies ahead. “Sabi ko nga, ‘Malayo na pero malayo pa’. In the past 15 years, everything felt planned and thought-out, pero syempre hindi natin tatanggalin yung aspetong yun. But I just want the next 15 years in the industry to be full of surprises. I want my journey to present itself, because of course it’s not going to be easy.” He added that staying in the business is at the heart of his journey, and with changing times it is important to continuously reinvent oneself as a celebrity.
More updates about the event and your favorite Sparkle GMA Artist Center stars can be found at @ sparklegmaartistcenter on Instagram, Facebook, X, and TikTok.
Top GMA star Alden Richards spotlighting one of the causes he champions
Meralco teams up with PEZA to power Greenfield Ecozones
Manuel V. Pangilinanled Manila Electric Company (Meralco) has strengthened its commitment to driving sustainable industrial growth through a partnership with the Philippine Economic Zone Authority (PEZA) aimed at accelerating the development and energization of greenfield ecozones.
The agreement, formalized through a memorandum of understanding, establishes collaboration between Meralco and PEZA to develop and energize PEZA-owned greenfield ecozones, including the Pantao Ecozone in Albay and the Palawan Mega Ecozone in Puerto Princesa.
Currently, Meralco delivers power to 244 of the 433 ecozones in the country, including the Cavite Economic Zone and First Philippine Industrial Park in Batangas.
The signing was led by Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan, Meralco Executive Vice President and Chief Operating Officer Ronnie L. Aperocho, Meralco Senior Vice President and Chief External and
Government Affairs Officer Arnel D. Casanova, PEZA Director General Tereso O. Panga, and PEZA Deputy Director General for Policy and Planning Anidelle Joy M. Alguso. Meralco and PEZA will work together to ensure delivery of reliable, affordable, and stable power to support operations of ecozones. PEZA will identify ecozones for assessment and handle coordination for access and permits, while Meralco will focus on providing innovative energy solutions tailored to the needs of these emerging economic hubs.
“This partnership is a significant step toward building greenfield ecozones that will serve as engines of
growth for our country. These projects, developed from the ground up, demand modern and reliable infrastructure, with power distribution systems at their core,” Aperocho said.
As an active partner of the government in nation-building, Meralco continues to advance reliable energy solutions to help strengthen the Philippines’ position as a prime investment destination.
“By combining PEZA’s commitment to creating globally competitive investment destinations with Meralco’s expertise in delivering world-class utility services, we will ensure that dependable power becomes the backbone of sustainable development,” Aperocho concluded.
BLUETTI Philippines Unveils Premium 30 V2
UCFI, NUSERVE deliver aid to Cebu City amid ongoing recovery
TDuring the event, guests explored three zones inspired by actual Filipino routines:
Work-From-Café Zone – Laptops, monitors, and phones stayed powered throughout the afternoon, simulating a full work session for freelancers, students, and remote employees.
Café Bar Power Zone – A barista-tech expert brewed coffee using appliances plugged into the Premium 30 V2, demonstrating its ability to support small but high-wattage tools perfect for solo and condo-living professionals.
Uninterruptible Content Zone – A fun cafeinspired content set-up to give our guests the chance to create their content and power it with the new Premium 30 V2.
“Our audiences are constantly on the move,” said Fred Mandocdoc, Brand Manager of Prime Tech Philippines. “We wanted people to feel how BLUETTI naturally blends into their daily habits, from BLUETTI Premium 30 V2
laptops in cafés to fueling
at home.” The Premium 30 V2 is BLUETTI’s refined take on portable energy, designed not just for emergencies but for everyday convenience. With a boosted capacity, a smarter charging system, and a sleek, more lifestylefriendly build, it gives users a reliable power source wherever their day takes them.
As the event wrapped up, guests realized the entire afternoon flowed without interruptions—no generators, no noise, no plugs.
The BLUETTI Premium 30 V2 is now available through BLUETTI Philippines’ official online stores and partner retailers nationwide. For updates, follow @bluettiphilippines on Facebook and Instagram.
Abecome a beacon of hope in the aftermath of the powerful Super typhoon Uwan, bringing people together through melody and sympathy. The event, aptly titled “A Helping Hand for Bataan,” is a benefit concert for victims of Uwan. It is a heartfelt call to action, uniting legendary artists and the community to provide critical support for the thousands of families whose lives were overturned by the storm. This special concert will be held on Sunday, December 14, 2025, at 12 Monkeys, on the ground floor of Estancia Main Mall in Capitol Commons, Pasig.
Leading the extraordinary lineup for this benefit performance is the legendary 70s Superband, a collective of musical icons whose songs have defined a generation of Original Pilipino Music, or OPM. The band brings together the principal artists from some of the Philippines’ most beloved groups, whose music tells the story of our nation’s disco and soft-rock golden era, famous for hits like Pag Tumatagal Lalong Tumitibay, Awitin Mo At Isasayaw Ko, and Ipagpatawad Mo, among other crowd favorites.
Key members include the legendary singer-songwriter Nonoy Tan and vocalist-bassist Rey Magtoto of Wadab, Monet Gaskell of VST & Company, Mon Espia of Labuyo, and the masterful talents of Jun Austria (Big Thing) and Tito Cayamanda (Maestro). These musical giants will not only serenade the audience with their timeless hits but also stand shoulder-to-shoulder in solidarity with the victims.
The roster of talents for “A Helping Hand for Bataan” extends beyond this core group, featuring other remarkable contemporary artists who are lending their voices to this vital cause. The lineup includes the soulful presence of pop singer Nisha Bedaña, the beautiful music of rising artist Marie Nishiyama, and the captivating ensemble of Lyra, Kat, Baby Ann and Our Daily Band.
Each artist’s decision to perform is a testament to the powerful, uniting spirit of Filipino generosity, turning every note sung into a pledge of support for the typhoon victims.
Super Typhoon Uwan, internationally known as Fung-wong, struck the country with catastrophic force in early November 2025, unleashing torrential rain, powerful winds, and dangerous storm surges. While the disaster
Enbu at Okada Manila Redefines Japanese Dining with Inspired Culinary Craftsmanship
ENBU, Okada Manila’s signature Japanese restaurant uniquely pairs timeless culinary foundations with a bold, modern voice. Chef de Cuisine Masahiro Mizumoto curates a menu and experience where every detail is intentional, inviting guests into a space that feels warm and exciting to the palate.
“We want guests to feel welcome through the flavors we serve,” Chef Masahiro Mizumoto said. “If a dish becomes a moment they remember, then we have done our work well.”
Enbu honors the timeless foundations of Japanese cooking while embracing modern refinement. Chef Mizumoto and his team draw from the many pillars of Japanese cuisine—balanced broths, delicate seafood, thoughtful toppings, and satisfying textures—and elevate them through techniques that bring forward layered flavors. Throughout the menu, ingredients are treated with the respect central to Japanese culinary philosophy, enhanced with subtle innovations that appeal to diners.
Enbu’s menu encourages guests to explore the many expressions of Japanese dining, from delicate
dishes to comforting bowls. The restaurant’s grilled dishes introduce smokiness to seafood, meats, and seasonal vegetables—adding depth without overpowering their natural character. These offerings complement the broader Japanese dining experience.
Enbu’s sushi selections highlight Chef Mizumoto’s steady, refined approach. Each piece is shaped with clarity and balance, resulting in sushi that feels both traditional and subtly modern. Guests can enjoy distinctive toppings such as nori paste or mango with flying fish roe, each adding dimension while preserving the purity of the seafood.
Comforting dishes such as Enbu’s ramen bowls, made with slow-boiled broths and thoughtful garnishes, offer warmth and familiarity. Guests seeking variety may choose signature sets that bring together sushi, sashimi, warm dishes, and sides—creating a cohesive, well-paced journey through multiple facets of Japanese cuisine.
Enbu’s atmosphere enhances the meal with lantern-lit interiors, warm textures, and an inviting sense of calm. Guests are encouraged to savor each
dish at an unhurried pace, allowing flavors to unfold naturally. Service reflects Japan’s approach to hospitality—attentive, considerate, and grounded in sincerity.
One of the unique highlights of Enbu’s interiors is its 2,160 red cochins, a distinctive element reminiscent of Japanese festivals, adding character and cultural depth to the space.
Whether guests are rediscovering beloved Japanese flavors or experiencing them for the first time, Enbu offers a dining journey that is welcoming, enjoyable, and memorably crafted.
As part of Okada Manila, Enbu elevates Japanese dining within the integrated resort setting. The restaurant brings together heartfelt culinary craft and world-class service, creating moments that linger long after the meal ends. At Enbu, global excellence meets the enduring spirit of Japan, transforming every visit into a meaningful dining experience.
Discover Enbu’s thoughtful approach to Japanese dining. To reserve a table, please call +63 (2) 8888 0777 or email restaurantreservation@ okadamanila.com.
In the photo are, from left, Meralco Executive Vice President and Chief Operating Officer Ronnie L. Aperocho, Meralco Senior Vice President and Chief External and Government Affairs Officer Arnel D. Casanova, Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan, PEZA Director General Tereso O. Panga, and PEZA Deputy Director General for Policy and Planning Anidelle Joy M. Alguso.
Enbu, Okada Manila’s signature Japanese restaurant, goes beyond convention by pairing timeless culinary foundations with a bold, modern voice.
PHL bags 4 golds on Day 2
By Jun Lomibao
BANGKOK—Kimberly Custodio and Dean Roxas delivered in jiu jitsu, Paris Olympian Aleah Finnegan wowed in gymnastics and Meri Ann Geli Bulaong awed in mixed martial arts (MMA) in Day 2 on Thursday of the 33rd Southeast Asian Games with host Thailand widening its gap atop the overall medals race.
Custodio, a three-time World Champion, delivered the gold for the day, after beating home bet Sugun Nutchaya in the women’s 48kg ne-waza event of jiu-jitsu at the Ronnaphakat Building Navaminda Kasatiryahiraj Air Force Academy.
It was nip-and-tuck before Custodio scored three points by establishing control on top of Nutchaya in the last 30 seconds of the match.
The official gave Custodio the much-needed points and enough breathing room to finish strong for her first SEA Games gold medal.
Roxas, on the other hand, dominated the match en route to a quick submission victory in the men’s 85kg also of ne-waza against Singapore’s Aacus Hou Yu Ee, giving the Philippines.
“I went through a lot this year. I got injured in Japan like three weeks, almost three weeks ago. So I thought I wasn't going to compete.” said Roxas, who also won the gold in the same event in 2019.
By Josef Ramos
BANGKOK—Ambassador Millicent Cruz Paredes expressed support and opened the Philippine Embassy doors to Team Philippines in its campaign in the 33rd Southeast Asian Games.
“I would like to address the Philippine delegation with great honor for being here,” Paredes said during the Welcome Reception for the Philippine delegation led by PSC chairman Patrick “Patò” Gregorio and POC president Abraham “Bambol” Tolentino on Wednesday night at a local Bangkok restaurant.
“I’m proud to all of you and the Filipino athletes, I know we will do good,” added Paredes who was in the VIP stands during Tuesday’s opening ceremony. “I was there last night and we will continue to support all of you and just tell us how we can help you.”
“We are hoping we will do better than the last time,” she added, referring to the country’s fifth-place
ish in the 2023
in Cambodia.
“Grateful to be here. Grateful to just, you know, soak in the moment. Represent the country and get another gold for the Philippines,” he added. Earlier in the day, the Philippines also nabbed three bronze medals through Kaila Napolis, Marc Lim and Vito Luzuriaga.
Finnegan wows ‘em in vault
ALEAH FINNEGAN was the star of the day, not only because of being naturally comely, but because she showed determined grit and amazing grace on the vault at Gymnasium 5 of the Thammasat University in Pathum Thani.
But her gold didn’t come without any tension.
It took a while, some close to an hour, before the judges released the official result of the event that gymnastics association president Cynthia Carrion Norton vowed to protest if it didn’t favor Fennigan.
“They’re recomputing,” CarrionNorton—who was with Philippine
Olympic Committee president Abraham “Bambol” Tolentino at the VIP seating watching the Filipino gymnasts compete—told reporters while waiting for the result. It turned out there won’t be any protesting as Finnegan was declared winner for her second gold medal after Hanoi 2022—there was no women’s gymnastics in Phnom Penh in 2023.
Finnegan garnered 13.433 points, beating Vietnam’s Thi Quynh Nhu Nguyen (13.400) and Malaysia’s Kang Xian Yeap (12.966).
She’ll go for her second gold on the balance beam on Friday.
Haylee Garcia, on the other hand, bagged silver in women’s uneven bars with 12.333 points, while Justin Ace de Leon grabbed bronze medals in floor exercise and rings.
Bulaong makes mark in MMA BANGKOK—Gilas Pilipinas failed to secure a podium finish in men’s 3x3 for the first time after absorbing a 21-19 loss to Malaysia on Thursday at Nimibutr Stadium here.
Ange Kouame, Joseph Eriobu, Joseph Sedurifa and Janrey Pasaol tried to salvage a podium finish following a stinging semifinal defeat at the hands of Singapore, only to be denied by a vengeful Malaysian side.
Malaysia, which lost to Gilas in pool play, secured the bronze.
“I don’t have any words right now except that we tried to get the win,” a disappointed Kouame said. “But as they say, things happen.”
No podium for gilas in men’s 3x3 THE Philippines bombed out in men’s 3x3 of basketball after absorbing a 21-19 loss to Malaysia on Thursday
BANGKOK—Mark Louwel Valderama finally found his spot on the podium after three tries after he clinched bronze in men’s crosscountry eliminator of mountain bike in cycling at the 33rd Southeast Asian Games on Thursday.
“After having competed many times in the SEA Games, I finally got one,” said Valderama, a 24-year-old from Santa Maria, Bulacan, broke through after unsuccessful tries in the 2021 Vietnam and 2023 Cambodia editions.
“That’s why I’m very happy with this one,” he added after the event Indonesia’s Rendy Varera Sanjaya easily won on a chilly morning at the Khao Kheow Open Zoo in Chonburi.
Valderama overtook home bet and top contender Watcharakorn Onthuree for second place in a tight battle at the first turn that caused the Thai to crash before the Filipino was passed by eventual silver medalist Zulfikri Zulkifli of Malaysia following the first lap. But Valderama did just enough to secure the Philippines’ second mountain bike medal after John Derick Farr won the men’s downhill bronze Wednesday.
“I thought at the start that I won’t finish, my legs appeared that they wanted to give up,” he said. “But the advise from my coaches to give it all out struck my mind and I held on.”
Valderama is coached by Eusebio Quiñones, a former SEA Games MTB rider who won a cross-country gold in 2003 in Vietnam.
Caluag back for another tour of duty
Ange Kouame, Joseph Eriobu, Joseph Sedurifa and Janrey Pasaol tried to salvage a podium finish following a stinging semifinal defeat at the hands of Singapore, only to be denied by a vengeful Malaysian side.
Malaysia, which lost to Gilas in pool play, secured the bronze.
“I don’t have any words right now except that we tried to get the win,” a disappointed Kouame said. “But as they say, things happen.”
The setback saw Gilas miss out on a medal for the first time since the event was first held in 2019.
Gilas took home the gold that year on home soil, before settling for bronze in 2021. Two years ago saw the Philippines take home a silver, with Eriobu and Sedurifa part of the squad.
Kouame, Eriobu, Sedurifa and Pasaol had a promising start to the campaign by topping Pool B with a 3-0 record, capping off with Wednesday’s 21-10 rout of Laos.
The exit came a day after Gilas didn’t make the semis in women’s 3x3 following twin losses at the hands of eventual gold medalist Indonesia and Malaysia in Pool A.
Thailand dominates in many fronts
THAILAND is getting away with it all and with 39 gold medals—along with 19 silvers and 15 bronzes—look well on its way to partying on home soil.
Vietnam was a far second on Thursday with a 12-8-25 gold-silverbronze haul, followed by Indonesia with 12-19-12 and the Philippine at fourth with 6-5-23.
Singapore completed the top five with 5-16-10. With Josef Ramos
DANIEL CALUAG, the country’s only gold medal winner at the 2014 Incheon Asian Games, returns as one of three bets in men’s BMX racing and time trial that are set Friday and Saturday inside the Kamol
Hoffman, Tolentino make games debut
By Josef Ramos
BANGKOK—Olympians Lauren Hoffman and John Cabang Tolentino make their Southeast Asian Games debut in the athletics competitions at the Supachalasai Stadium on Friday.
“My first SEA Games, I am excited to compete here,” said Hoffman, who placed seventh in the 400-meter hurdles at the Paris Games last year.
“My goal is to win and I am confident that I can,” the 26-year-old North Carolina-based Hoffman said. “I am so happy to see also my other teammates here, my fellow Filipinos.”
Hoffman will see action in the women’s 110-meter hurdles qualifiers at 4:30 p.m. with the final set at 6:15 p.m. She’ll also be up Monday in the 400 hurdles. She trained in Durham in North Carolina before flying to Manila last December 6 to acclimatize and train with the Philippine team prior m. Tolentino, on the other hand, competes in men’s 110m hurdles— his only event—at 5 p.m. and is hoping to improve his bronze medal finish in the Cambodia games two years ago.
Marathon bets have ‘fighting chance’ FORMER SEA Games champions Eduardo “Vertek” Buenavista and Christabel Martes, who now call the shots for the national marathon team, are confident their wards will book podium finishes in the marathon race of the Thailand
Southeast Asian Games this Sunday.
Representing the country in the lung-busting 42.195-kilometer event, which will start at the Rajamangala National Stadium here, are 2019 Philippine SEA Games gold medalist Christine Hallasgo, 33; Artjoy Torregosa, 26; 2023 Phnom Penh SEA Games silver medalist Arlan Arbois Jr., 28;and Richard Salaño, 34.
“We have a chance for a medal, especially for the women, Christine. I’m not sure about the gold because the Indonesian (entry) is currently ranked number one,” said Buenavista, the 2009 Vientiane SEA Games marathon king who is now the head coach of the squad. Buenavista was referring to two-time SEA Games (2021, 2023) queen Odekta Elvina Naibaho Elvina, 31, who clocked a new Indonesian women’s national record of 2:31:34 last July. Hallasgo’s best is 2:49:27 set at the Jiaxing Asian Marathon Championships last March, and Torregosa’s best is 2:57:04 at the Manila Marathon last August. In the men’s division, he said the country’s best hope is a bronze “because the two Indonesians are also strong,” referring to Robi Syianturi and Rikki Martin Simbolon. Syianturi, 27, also recorded a new Indonesian men’s mark of 2:15:04 last July, while Simbolon, 30, has a personal best of 2:15:48, compared to Arbois’ 2:24:23 at the 2025 Tokyo Marathon last March, and Salaño’s 2:26:51 at the Sydney Marathon last August.
Adefuin, Diesto make waves in Dubai
DUBAI—Team Philippines made an early splash at the 2025 Asian Youth Para Games after para swimmers Raemond Adefuin and Mary Hannah Diesto captured one gold and one silver medal, respectively, at the Hamdan Sports Complex.
The 15-year-old Adefuin clocked 35.84 seconds to rule the boys 12-16 50-meter butterfly multi-class S2-7, beating Indonesia’s Komang Aditya Pradnyana (45.40sec) and Japan’s Ryuga Yamada (46.39sec).
“It’s a big victory for me because I beat my personal best of 36 seconds,” said Adefuin, a Grade 10 student at Kabulusan Integrated National High School in Laguna, in Filipino.
“I’m grateful for my coaches and teammates who supported me in this endeavor,” he added.
Diesto clinched the silver in the girls 12-15 200m freestyle multi-class S1-S5 with a time of 2:51.95 behind eventual gold medalist Siti Aisyah of Indonesia (2:26.50). Malaysia’s Asyiil Raziin Binti Razman bagged the bronze in 2:52.03. In wheelchair basketball, the Filipinos showed grit with three straight victories to advance to the quarterfinals at the Al Ahli Club. The Nationals opened up with a 14-6 drubbing of Saudi Arabia, then escaped with host UAE, 10-9. They returned with more determi-
ADEFUIN DIESTO
fin-
edition
Joining Gregorio were Chef de Mission Dr. Jose Raul Canlas and his deputy Jop Malonzo, as well as Asian Volleyball Confederation president Ramon “Tats” Suzara, POC board director Donaldo Caringal, House Youth and Sports Committee chairman Rep. Mike Dy, association heads
Leonora Escollante (canoe kayak), Ali Sulit (judo) and Ricky Lim (karatedo) and PSC commissioner Walter Torres and executive director Atty. Guillermo Iroy. Boxer Nesthy Petecio, a double Olympic boxing medalist, also graced the event and thanked Paredes for her support.
at Nimibutr Stadium.
PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino merrily hangs the gold medal around Aleah Finnegan’s neck. POC MEDIA POOL
PHILIPPINE Ambassador to Thailand Millicent Cruz Paredes (right) with Philippine Sports Commission chairman Patrick “Patò” Gregorio (left) and Olympic boxing medalist Nesthy Petecio. POC MEDIA POOL
MARK LOUWEL VALDERAMA fights tightness in his legs by focusing on his first games medal. POC MEDIA POOL
Sacks of patience needed amid ‘carmaggedon’
Del Monte City in Bulacan all the way to Cagayan Valley. I now avoid travel as much as possible. If I can’t help it, I bring with me sacks of patience as deterrents to idiots on the loose. Love your life. It’s the only one you got.
Honda anniversary
HONDA has recently opened its Honda Fest marking its 35th anniversary celebration, with no less than Honda Cars Philippines president Ms Rie Miyake leading the occasion.
The event was highlighted by the unveiling of the All-New Prelude. But Ms Miyake said it will be launched in 2026.
The anniversary’s theme features the past, present and future of the company as it displayed the pre-loved units of the 2000YM CRV, 1998YM Civic SiR, 2001YM HR-V and 1993YM Prelude beside their current, electrified versions.
Also on display are the ICE models in Honda’s lineup, such as the best-selling BR-V and City.
Test-driven during the event were the City 1.5 S CVT, Honda SENSING, City Hatchback 1.5 RS CVT, Civic RS e:HEV E-CVT, CR-V RS e:HEV E-CVT, HR-V RS e:HEV, E-CVT, New HR-V S CVT, BR-V 1.5 S CVT, and the Brio 1.2 RS Black Top CVT.
Andie Vitug said that, as previously announced, effective January 1, 2026, the Gateway Group will operate Honda Cars Makati, Cebu, Negros, Cagayan De Oro, while the Borromeo Motoring Group will manage Honda Cars Bacoor, Pasig, Mandaue and Iloilo.
“Additionally, HCPI will have its own subsidiary to directly operate Honda Cars Shaw. As an expansion of Visayas, Honda Cars Tacloban will soon be fully operational,” Andie said.
Also making its debut at Honda Fest was the Pro Honda engine oil.
“We are so grateful for all the support you have shown us in the past 35 years, and we look forward to many more years together,” said Ms Miyake.
Andie said latest models and technologies can be viewed at www. hondaphil.com, https://www.hondaphil.com/dealer-finder and at Sales Offers and Promotions.
All the best, Andie!
More from Lexus FROM Matty Puno once again:
“This December, Lexus is pleased to carry the promo offerings from November into the end of the year.
“Lexus is proud to continue offering an enticing array of payment options, from the Lexus IS 300h Executive and ES to the IS 300h Executive.
“For those seeking reimagined luxury, the Lexus LM 350h 7-Seater transforms travel into an indulgent experience. With its Ottoman-style seats, ambient lighting, and whisper-quiet cabin, every journey feels like a first-class retreat.
“Others embodying the Japanese concept of Omotenashi, there is the RX 350h Executive and the RX 350h Premier models.
“The RX 500h F-Sport is one of only two Lexus models boasting a performance hybrid engine.
“Dynamic and progressive, the NX 350h Executive and NX 350 F Sport bring together bold styling and exceptional performance.
“The NX 350h Executive offers the efficiency of a hybrid powertrain and intuitive technology for everyday luxury, while the NX 350 F Sport, powered by a gasoline engine, delivers an energetic and responsive drive.
“Compact yet rich in character, the UX lineup caters to the modern urban explorer. The UX 300h F Sport delivers hybrid efficiency with dynamic precision, while the UX 300h Premier introduces elevated comfort and seamless connectivity.
“For those ready to embrace electrified mobility, the all-electric UX 300e offers instant torque, zero emissions and quiet confidence.
“The Lexus LBX redefines compact luxury with youthful energy, intuitive technology, and refined hybrid power. It offers an approachable yet premium way to experience Lexus craftsmanship in a versatile, modern form.
“Lexus Manila president Carlo Ablaza said: ‘At the pinnacle of the lineup stands the Lexus LS 500 Premier, the flagship sedan that embodies the ultimate in design and engineering mastery.’ “To learn more, visit the
