BusinessMirror December 18, 2025 by BusinessMirror

Tariff on rice not enough, Sinag pitches 35% By Ada Pelonia

WORLD » A7

TRUMP ORDERS BLOCKADE OF ‘SANCTIONED OIL TANKERS’ INTO VENEZUELA, RAMPING UP PRESSURE ON MADURO

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ROAD agriculture sector coalition Sinag has renewed calls to reinstate the 35-percent tariffs levied on rice imports as retail prices remain elevated. The group made the pronouncement after the Department of Agriculture (DA) recently announced that the government will raise rice import duties to 20 percent from the current 15 percent levy starting January 2026. “Our farmers are losing out, their farmgate prices are below production cost, yet consumers still suffer high prices at the retail level,” Sinag

Chairman Rosendo So was quoted in the statement as saying. So also noted that “no one” benefited from the policies promoted by Department of Economy, Planning, and Development (DepDev) under Socioeconomic Planning Secretary Arsenio Balisacan. The group said rice tariff cuts failed to translate into sustained retail price relief, even as global rice costs stabilized, citing government data and independent analyses. It added that foreign rice shipments reached record volumes, which contributed to oversupply and placed downward pressure on local farmgate prices, often below production cost.

“Retail rice prices remain elevated in many markets, frustrating consumers and reinforcing perceptions that tariff reductions have failed to deliver on their promise of affordability.” Meanwhile, Sinag said farmgate prices across major staples have also fallen below production costs. This development has then pushed farmers deeper into losses, while retail prices remain high, thus leaving consumers with no relief from rising food costs, the group added. “The government’s reliance on imports and tariff reductions has proven disastrous for the economy, undermining domestic food production while failing to lower

prices for poor and vulnerable consumers.” The group added that the “continuing failures of the current agricultural and economic policies have unfortunately been overshadowed by the controversy surrounding the multi-billion-peso flood control fund mess.” “Natabunan lang ng billion-pesos flood control mess ang patuloy na kapalpakan ni Secretary Balisacan,” Sinag said. Amid calls for the prosecution of those involved in the flood control controversy, the group urged the government to also act on what they described as “policy failures” by Balisacan, reiterating their demand for his removal from office.

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Thursday, December 18, 2025 Vol. 21 No. 71

P25.00 nationwide | 4 sections 28 pages | 7 DAYS A WEEK

By Reine Juvierre S. Alberto @reine_alberto

OVERNMENT financial institutions, international lenders and entities operating through agency agreements or managed funds will now be treated as financial intermediaries under new Bangko Sentral ng Pilipinas (BSP) rules. BSP issued Circular No. 1224 series of 2025 to amend the regulations on the definition of financial intermediaries, issuance of bonds and commercial papers, and borrowings from banks, quasi-banks and other financial intermediaries. According to the BSP, investment houses, investment companies, trust corporations, nonbank financial institutions with a quasi-banking license and financing companies are considered as financial intermediaries. Securities dealers/brokers, lending investors, pawnshops, money brokers, fund managers, cooperatives, insurance companies, non-stock savings and loan associations, and venture capital corporations are also included in the category. It also consists of government-owned or -controlled financial institutions that perform banking or credit func-

tions; international financial institutions that perform banking, credit or investment functions; and entities performing any of the functions of a financial intermediary. The BSP defined financial intermediaries as juridical entities whose principal functions include the lending, investing or placement of funds or evidence of indebtedness or equity deposited with them, acquired by them, or otherwise coursed through them either for their own account or for the account of others. Financial intermediaries perform, on a regular and recurring basis, functions such as, but not limited to, receiving funds from persons or entities through traditional deposits or the issuance of debt or equity securities, and making these funds available to another person or entity, See “BSP,” A2

MUTED GLOW A week before Christmas, shoppers visit the Grace of God store along Carriedo Street in Quiapo, Manila, searching for the best bargains on Christmas lights as the holiday rush reaches its peak. With prices under pressure and household budgets stretched, vendors report steady foot traffic from buyers eager to brighten their homes in time for the season—proof that even in tight times, Filipinos continue to make room for tradition and celebration. BERNARD TESTA

REPORT: S.E.A. TRADE RELIES MUCH ON GLOBAL VALUE CHAINS By Andrea E. San Juan

@andreasanjuan

OUTHEAST Asia trade is “striking” for its strong reliance on Global Value Chainrelated exports which dominated across all destinations, according to the Global Value Chain Development Report 2025 published by the World Trade Organization (WTO). In the 2017 to 2024 timeframe, WTO underscored the region’s role in upstream production, where exports are embedded in complex value chains rather than directly consumed.

“While the EU shared this upstream orientation, Southeast Asia stood out in terms of its inter-regional trade: on average between 2017 and 2024, 84 percent of its exports go outside of the region, compared to the EU’s heavier dependence on internal trade [52 percent],” the WTO report noted. WTO said Southeast Asia has been cementing its role in interregional global value chain trade because it “doubled down” on mega free trade agreements. “Southeast Asia has also actively deepened integration, See “Trade,” A2

DA may tie up with LGUs to speed up FMR works By Ada Pelonia

@adapelonia

HE Department of Agriculture (DA) is mulling over forging ties with local governments to expedite the implementation of farm-to-market road (FMR) projects. Agriculture Secretary Frederick Tiu Laurel said the agency will sign a memorandum of agreement (MOA) with “competent” local government units (LGUs) to help implement the FMRs. “Since the [FMRs] suddenly went to us, we’re not necessarily ready to implement. But technically, we can audit because we’ll get a third-party auditor,” Tiu

Laurel told reporters on Monday. “We will probably download the funds for FMR to the LGU. They will implement and bid it, but we will be there. The citizen watch is also there,” he added. To ensure a “more effective” process, he said the DA is eyeing to bid out FMR projects on a perprovince basis. “We’re thinking of making the bidding province-wide to make it more effective and invite major players [in the construction industry]. One province, one bid,” Tiu Laurel said. Meanwhile, the DA chief noted that the bidding process will be livestreamed to ensure transparency.

“We need to implement this to show people that we mean business. We will do this properly,” Tiu Laurel said. “Besides, the FMRs will be monitored by an LGU’s constituents unlike flood control projects done in remote areas where people won’t often see.” Earlier, the DA said it is set to launch an “FMR Watch” platform where the public can upload photos, report progress, and flag issues directly from construction sites. Tiu Laurel said the agency will also sign MOA with farmer cooperatives and associations (FCAs) to help them monitor FMR projects.

“Tehcnically, it’s going to be so transparent that no one can cheat its implementation,” he said. The DA would assume the development of FMRs from the Department of Public Works and Highways (DPWH) starting 2026. With the government allocating P32 billion for FMR projects next year, the DA expects to build around 2,600 kilometers of roads at P12 million per km. The standard price was lowered from the previous benchmark of P15 million. The DA noted that the national FMR roadmap details 131,000 kilometers of needed rural roads, but over 60,000 kilometers remain a backlog.

PESO EXCHANGE RATES n US 58.8790 n JAPAN 0.3806 n UK 79.0568 n HK 7.5681 n CHINA 8.3597 n SINGAPORE 45.6852 n AUSTRALIA 39.0368 n EU 69.1652 n KOREA 0.0400 n SAUDI ARABIA 15.6998 Source: BSP (December 17, 2025)

News

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A2 Thursday, December 18, 2025

Transmission… Continued from A12

for the FIT-ALL. It is only proper that these be clearly separated from transmission wheeling rates, which represent NGCP’s actual charge for power delivery services,” NGCP said. The FIT-All is a uniform charge billed to all on-grid electricity consumers, reflected as a separate component in monthly electricity bills, to cover payments to RE developers who are assured of a fixed rate per kWh for electricity generated by their projects over 20 years. The Energy Regulatory Commission (ERC) recently increased the FIT-All to P0.20 per kWh from P0.11/kWh.

Foreign biz: Aussie shooters…

Continued from A12

coming in soon, as they look at Davao City and the BARMM,” he said. He said the operation soon of a submarine cable from the East Asean internet connectivity will be a huge boost for Mindanao. The Mindanao Development Authority said current ventures and more opportunities are in the renewable energy particularly in small modular sector, public safety, transportation, agriculture value chain, environment and disaster preparations.

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SC: Basic bank account data may be shared in cyber probe

By Joel R. San Juan @jrsanjuan1573

HE Supreme Court has declared that the Bank Secrecy Law does not prevent the disclosure of basic identifying information necessary for cybercrime investigations. Thus, in a 26-page decision penned by Associate Justice Ramon Paul Hernando, the Court’s First Division denied the petition filed by EastWest Rural Bank (EastWest), which questioned court and police orders requiring the bank to disclose certain computer data as part of a cybercrime investigation. The Court noted that the Cybercrime Prevention Act provides a legal basis for limited disclosure of information concerning the identity of the depositor or account holder. It stressed that while the Bank Secrecy Law protects the confidentiality of bank deposits and their financial details, it does not prevent the disclosure of basic identifying

information when allowed by law. Under the Cybercrime Prevention Act, the Court said law enforcement agencies may, with a court-issued warrant, require the disclosure of computer data necessary to investigate cybercrime offenses. The case stemmed from a complaint filed by Leonard Vendiola (Vendiola), who was scammed by a caller posing as a bank employee. The caller tricked him into disclosing his email and one-time password, which allowed P10,000 to be transferred from his bank account to an EastWest account. Vendola reported the incident to the Philippine National Police Anti- Cybercrime Group (PNP-ACG), which sought a Warrant to Disclose Com-

Bicam…

Continued from A12

“This is all about numbers, so it really takes time and needs to be validated and reviewed. I’m a bit nervous about whether all the figures will balance, but they should,” he said. Despite the challenges, Gatchalian maintained that the bicam is on track to finish its work. He credited the effort of staff working long hours to meet the deadline. “That’s true. The staff are really suffering because they’re hardly getting any sleep, but that’s how it is during budget season,” he said.

Trade…

Continued from A1

puter Data (WDCD) to identify the EastWest account holder involved in the alleged scam. The RTC granted the warrant, authorizing the PNP-ACG to compel EastWest to disclose and preserve data relating to the account holder. Pursuant to this, the PNPACG issued a Disclosure Order to EastWest. However, EastWest challenged the warrant, arguing that the Bank Secrecy Law strictly prohibits banks from revealing any information about bank deposits, including the identity of the account holder. It maintained that this rule remains in force because it was not repealed by the Cybercrime Prevention Act. The bank also asserted that it should not be subject to the Cybercrime law’s disclosure rules because it is a financial institution rather than a communications service provider. The SC rejected these arguments and upheld the validity of the WDCD and the Disclosure Order. The SC held: “While bank secrecy constitutes a sstatutory right accorded under the Bank Secrecy Law, the mandate imposed by WDCD and Disclosure Order requiring the disclosure of the identity of the EWRB account holder must be examined not only through the lens of the

Bank Secrecy Law but also in the context of the Cybercrime Prevention Act, which permits disclosure of information under defined conditions.” The SC further ruled that EastWest is considered a service provider which falls within the scope of the Cybercrime Prevention Act. It noted that EastWest functions similarly to a service provider because their digital banking services—such as online banking platforms, mobile applications, and automated email notifications—allow customers to communicate and transact through computer systems. “Through its online banking system, petitioner enables users to communicate via a computer system and retains subscriber information, which is a computer data under Section 3[e]41 of the Cybercrime Prevention Act. Accordingly, this information is subject to a disclosure warrant issued by the courts,” the SC declared. As a banking institution, the Court said, EastWest also processes and stores substantial amounts of computer data both in the course of its operations and on behalf of its customers, placing it within the law’s coverage for the disclosure of computer data when authorized by a court-issued warrant.

Despite sale, PrimeWater must honor deals Continued from A12

alleged past lapses. “This will depend on the reports or documents that will be collected to show whether Prime Water has any liability,” Castro said. Last July, Castro announced the Office of the President already started reviewing the staggering volume of pieces of evidence on PrimeWater’s alleged poor service.

She said Marcos has agreed on the recommendation of LWUA to address the said complaints. LWUA Administrator Jose Moises F. Salonga earlier said they are considering terminating the approved government agreements with PrimeWater. He noted it will allow LWUA to provide reliable and clean water to the affected PrimeWater customers.

BSP rules on financial intermediaries tweaked Continued from A1

thereby acquiring debt or equity securities in the process. Meanwhile, the circular read that banks with quasi-banking authority may issue bonds, commercial papers, or other debt instruments without prior BSP approval, as long as they comply with the Securities Regulation Code (SRC) and rules of the Securities and Exchange Commission (SEC), and that the instruments are enrolled or traded in

an SEC-organized market. For banks without quasibanking authority, they may also issue through private or negotiated offerings, with no prior BSP approval required. In the case of issuance of green, social or sustainability bonds, the issuing bank must comply with the SEC guidelines and BSP disclosure rules, and is prohibited from “greenwashing.”

both within the region and beyond,” the rules-based trade body said. For instance, in November 2020, all members of the Association of Southeast Asian Nations (Asean) joined Australia, Japan, New Zealand, the People’s Republic of China and the Republic of Korea in the Regional Comprehensive Economic Partnership (RCEP), which came into effect on January 1,2022. Further, WTO said several Southeast Asian economies joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) starting in 2018– now the world’s fourth largest free trade area. “Within these frameworks, GVCrelated trade has consistently outpaced traditional trade growth, defying the perceived global stabilization of GVCs after the Covid-19 pandemic,” WTO noted. Within Asean, several initiatives have been “reinforcing” this trajectory. “The Asean Digital Economy Framework Agreement (DEFA), launched in 2023, aims to become the world’s first binding regional pact focused solely on digital governance [World Economic Forum, 2025]. By harmonizing rules on ecommerce, cross-border data flows, digital payments and cybersecurity, DEFA is expected to reduce regulatory fragmentation and transaction costs, creating a more seamless and competitive digital ecosystem across ASEAN,” WTO noted. However, WTO said the region’s dependence on GVC-related trade implies that the bloc is more at risk from global trade uncertainties resulting from US’s proposed tariff increases as well as its trading partners. The international trade body also noted in its report that regional geopolitical uncertainties pose ongoing risks to the region’s trade resilience, even as trade with China had seen significant growth in the past decade. Further, the trade body pointed out that members of the Asean are pursuing different growth strategies: the continental Southeast Asia (Cambodia, Lao PDR, Myanmar, Thailand and Viet Nam) have “edged closer” to China’s infrastructure, while the maritime states, surrounded by the ocean (Indonesia, Malaysia, Singapore, the Philippines and Brunei Darussalam), have more opportunities to diversify their trading partners. In its report, WTO underscored that globalization is being rewired, not reversed, adding that Global Value Chain integration has slowed and consolidated since 2011, with production, trade and investment concentrating on technologically advanced, regionally integrated hubs. Moreover, it noted that services have overtaken goods in GVC participation, showing “greater resilience” post-pandemic, especially digitally deliverable services such as finance, telecommunications, and IT. “This shift reflects the increasing role of services in global trade and their relative insulation from physical supply chain disruptions,” the WTO report noted. Since 2020, the trade body said the average number of production stages in GVCs has lengthened in many economies, driven by supply chain disruptions and rerouting of trade, especially in Europe and Central and West Asia.

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Thursday, December 18, 2025

Palace hits claim PHL is ‘Isis training hotspot’ By Samuel P. Medenilla

@sam_medenilla

ALACAÑANG slammed foreign media for their alleged “misleading” reports that the Philippines is an Islamic State (Isis) training hotspot in connection with the Bondi Beach massacre. Citing the National Security Council (NSC), Palace Press Officer Claire Castro said there is currently no proof that the two Indian nationals – Sajid Akram and his son, Naveed – who committed the mass shooting were trained by Islamic extremists when they visited the country last month. “Philippine authorities, in coordination with international partners, continue to verify all available information but no evidence has been presented to support claims that the country was used

for terrorist training,” she said. The NSC noted that military campaigns in Mindanao after the 2017 Marawi Siege have “significantly degraded Isis-affiliated groups in the country.” “Both the United Nations and the US government assessments indicate that these groups now operate in a fragmented and diminished capacity,” Castro said, quoting a statement from the NSC. It also pointed out that “violence in Mindanao is largely driven by historical conflicts and local

Gatchalian insists: No pork in local govt allocations By Butch Fernandez @butchfBM

‘B

ASELESS and grossly misleading.” This was how the Senate Finance committee chairman, Sen. Sherwin Gatchalian dismissed the allegation of Party-list Rep. Antonio Tinio of ACT Teachers, who claimed that the Senate had lodged P17.9 billion in so-called pork barrel in the allocations for local governments (LGUs) for 2026. “The Senate’s adjustments to the national budget were made with full transparency and in line with constitutional mandates,” Gatchalian stressed on Wednesday. He underscored that the increase in the Local Government Support Fund (LGSF) is not pork,

but an investment in the lifeblood of communities. By strengthening LGUs, he emphasized, the government can ensure that resources reach the grassroots level where they are most urgently needed, for instance, funding vital services such as health centers, classrooms, and disaster preparedness programs. Gatchalian stressed that the reduction in the Miscellaneous Personnel Benefits Fund (MPBF) should not be misconstrued as a cut to government employees’ rightful benefits. The Department of Budget and Management (DBM) itself has clarified that the MPBF is a reserve fund intended to cover contingencies, and not a direct salary or benefit allocation.

SC transfers Discaya’s Davao cases to Lapu Lapu City

HE Supreme Court (SC) on Wednesday confirmed that the two cases filed against contractor Cezarah Discaya and several officials of the Department of Public Works and Highways have been transferred to a special court in Lapu-Lapu City from Davao Occidental. The transfer, SC spokesman Camille Sue Mae Ting said, is in line with the Court’s guidelines directing that corruption-related cases involving infrastructure projects be forwarded to the designated anti-graft court of the nearest judicial region. “The determination of the nearest judicial region shall be made by the presiding or Executive judge concerned,” Ting said. Discaya along with eight DPWH engineers were charged by the Ombudsman with graft and malversation last December 6 In connection with the P96.5 million “ghost” infrastructure project in Davao Occidental. Aside from Discaya, also charged were District Engineer Rodrigo C. Larete, Assistant District Engineer Michael P. Awa, and several sec-

tion chiefs, project engineers, and inspectors. Also charged was Ma. Roma Angelin Rimando of St. Timothy Construction Corporation, a company affiliated with Discaya. They were charged with violations of Section 3(e) of Republic Act No. 3019, the Anti-Graft and Corrupt Practices Act, Article 217 in relation to Article 171 and 172 of the Revised Penal Code on malversation of public funds through falsification of public documents. Discaya has voluntarily surrendered to the National Bureau of Investigation (NBI) in anticipation of an arrest warrant that may be issued against her by the court. The SC has designated 26 regional trial courts as special courts to handle corruption-related cases in relation to the ongoing investigation into the multi-billion anomalous flood control and infrastructure projects. The designation is pursuant to Republic Act 10660, An Act Strengthening the Functional and Structural Organization of the See “Discaya,” A4

clan disputes rather than the operational capacity of Isis-affiliated organizations.” Castro also said that under the Marcos administration areas, which were previously plagued by terrorist activities, are now peaceful due to the “sustained efforts” of local security forces. “The President has ordered the Anti-Terrorism Council and member-agencies to remain vigilant in preventing any terrorist activity within Philippine territory and to continuously enhance coordination with international partners to safeguard national security,” she said. Some foreig n med i a h ave claimed that the Philippines is still a hotspot for Isis training when reporting on the visit in the province of Davao in Mindanao of the two Indian gunmen, who shot beachgoers in Australia during the weekend, killing 15 and leaving 24 hospitalized. The Palace earlier said local authorities are still determining what the two shooters did during

their stay in the country. Castro called on foreign media to be more responsible when it comes to reporting on the matter. “They should be critical and also be responsible in reporting [about the issue], especially as this affects the integrity and image of the Philippines,” Castro said.

Only 50 local terrorists left

THE A r med Forces (A FP) on Wednesday announced that the number of local terrorist group (LTG) members in the country are down to 50 as of this year compared to the 1,257 reported in 2016. The AFP issued the statement in the wake of the terrorist attack during the Jewish celebration in Australia where the assailants were found to have visited the Philippines before perpetrating the carnage at Bondi Beach. The Bondi attackers used only pistols and rifles, that do not need special “terrorist training” to use. “The Philippines continues to record significant improvements

in its domestic security situation, particularly in areas of Mindanao previously affected by terrorism. These gains are the result of sustained security operations, peacebuilding efforts, and strong communit y engagement,” the AFP spokesperson, Col. Francel Margareth Padilla, said in a press briefing in Camp General Emilio Aguinaldo, Quezon City. These operations also succeeded in neutralizing 28 “high-value individuals” (HVIs) from 2016 to 2025, she said. Of the 28 terror suspects neutralized, 10 are considered “amirs” or leaders. “Focused government operations have resulted in the neutralization, arrest, or surrender of key terrorist leaders, creating a leadership vacuum within remaining LTGs. The loss of senior figures has weakened command structures and reduced the ability of these groups to plan, direct, and sustain operations,” she added. Padilla also said available indicators show a steady decline in LTG

manpower, firearms, territorial influence, and violent incidents since 2016. Remaining groups are fragmented and largely defensive, with diminished operational reach and limited ability to regroup, she added. Padilla also said preventing and countering violent extremism (PCVE) programs continue to encourage peaceful surrender, reintegration, and community participation. Localized peace initiatives, livelihood support, and cooperation with local leaders have reduced vulnerability to extremist recruitment and strengthened grassroots resilience. Padilla added that there have been no recorded terrorist training activities, recruitment efforts, or large-scale attacks by domestic LTGs since 2016. This, she said, underscored the erosion of their operational capacity and the effectiveness of sustained security monitoring. With Rex Anthony Naval

DOJ activates task force vs ‘colorum’ public transport By Joel R. San Juan @jrsanjuan1573

N A nt i- Color u m Prosecution Task Forces has been ac t ivated by t he Department of Justice (DOJ) to go after operators and drivers of “colorum” public utility vehicles (PU Vs) ply ing major and secondar y thoroughfares. At a press briefing, Acting Justice Secretary Fredderick Vida said the task force will conduct case build-up against groups and individuals behind the operations of colorum vehicles. The launch of the task force was

attended by Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Vigor Mendoza II and acting Transportation Secretary Giovanni Z. Lopez. Vida reminded PUV operators to comply with existing laws to prevent being accosted and charged for violation of Republic Act 11659 or the Public Service Act. “The DOJ is here to strengthen the principle of the rule of law,” Vida stressed. Deputy State Prosecutor Deana Perez also stressed the need to go after the syndicates behind the operation of colorum vehicles in order to effectively address the problem.

“We cannot eradicate this if we only go after individual drivers. We need to go for the head of the organized group or the syndicate running these operations.” Perez said under the Republic Act (RA) 11659, the Public Service Act, violators face imprisonment ranging from six years and one day up to 10 years. Lopez said the creation of the task force was an offshoot of its meeting with President Marcos last month, where the latter instructed them to intensify the agency’s anti-colorum campaign. He said this prompted him to seek the assistance of the DOJ in

prosecuting operators and drivers of colorum vehicles. Mendoza, on the other hand, said the LTFRB is focusing its efforts against organized crime syndicates, who provide support and protection for colorum operations. He said the agency is also coordinating with the Presidential Anti-Organized Crime Commission for intelligence operations against these syndicates. “ The LTFRB with the Land Transportation Office...we will look into complaintd and we will refer these with the task force to eradicate these illegal operations,” Mendoza said.

Dy: What insertions in DPWH budget? Overseas voter

PEA K ER Faustino Dy III on Wednesday dismissed allegations that budget insertions are being made during the ongoing bicameral conference committee deliberations on the proposed 2026 budget of the Department of Public Works and Highways (DPWH), describing the claims as inaccurate and misleading. In a statement, Dy said reports alleging that lawmakers are secretly adding funds or provisions during the bicameral process do not reflect how the national budget is finalized. “I want to correct the speculation circulating: There are no ‘insertions’ or secret additions of funds or provisions in the bicameral conference committee,” Dy said. He stressed that all items in the House version of the budget underwent the proper process and were approved by members of the House of Representatives before the bicameral conference even began. “All the contents of the House bill—including appropriations, provisions, and programs—went through the required process and were approved by the full House prior to the start of the bicam,” the Speaker said. Dy explained that the bicamera l con ference com m it tee’s mandate is limited to reconciling the versions of the budget separately approved by the House and the Senate and not to introducing new items that were not prev iously passed. “The role of the bicam is to

harmonize the Senate and House versions—not to insert new provisions or slip in items that were never agreed upon. Claims of ‘insertions’ during the bicameral process are therefore incorrect and unfounded,” he said. T he Spea ker emphasized that there was nothing irregular or concealed in the House’s handling of the DPWH budget, noting that the process was conducted openly and in accordance with the law. “The truth is, there is nothing illegal, secretive, or deceptive happening on our end,” Dy said. Dy reaffirmed his commitment to a transparent and orderly legislative process, stressing that the national budget is crafted to serve the public interest rather than any individual or political agenda. “As Speaker of the House, I stand by a clean, orderly, and honest budget process. This is being done not for personal interests, but for the welfare of every Filipino,” he said. According to a report by the Philippine Center for Investigative Journalism (PCIJ), the district of the Speaker emerged as the top recipient of P23 billion in proposed insertions in the House-proposed 2026 budget of the Department of Public Works and Highways (DPWH). PCIJ said the districts of the House Committee on Appropriations chairperson, Nueva Ecija Rep. Mikaela Suansing, and her sister, Sultan Kudarat Rep. Bella Suansing, ranked second and third, respectively, in terms of

proposed insertions. Insertions refer to additional projects or funding allocations introduced by lawmakers during congressional budget hearings that were not part of the original DPWH-proposed budget. PCIJ claimed that the DPWH initially allocated P1.1 billion to Dy’s district in September. However, this amount increased to P3.8 billion after the House approved its version of the 2026 national budget. Similarly, the allocation for Rep. Mikaela Suansing’s district rose from P1.6 billion to P3.4 billion following House budget deliberations. Her sister, Bella Suansing’s district ranked third, receiving P3.9 billion after an additional P1.6 billion in insertions, PCIJ reported At the same time, President Pro Tempore Panfilo Lacson, meanwhile, denied claims that the Senate facilitated the insertion of P17.9 billion in discretionary or pork barrel funds in the proposed 2026 national budget. Lacson said the amount cited by Tinio “was a legitimate realignment meant to increase the subsistence allowance of uniformed personnel.” “The ‘Senate pork ’ referred to by Representative Tinio are actually realignments to increase the subsistence a l lowance of the uniformed personnel from the Philippine National Police, Bureau of Jail Management and Penology and Bureau of Fire Protection and also the Philippine Coast Guard,” Lacson said. Jovee Marie N. dela Cruz

registrants for 2028 polls near 1,500 By Justine Xyrah Garcia

LMOST 1,500 Filipinos overseas have applied for voter registration for the 2028 national polls, initial data from the Commission on Elections (Comelec) showed. Comelec data indicated that 1,459 applications of various types have been filed since December 1, with the bulk coming from new registrants. Of the total, 1,332 were firsttime overseas voters, while 127 applications covered record updates, reactivation, and other types of registrations. The poll body said the tally does not yet reflect submissions from all Philippine posts abroad, many of which have yet to turn in their weekly reports. According to Comelec’s Office for Overseas Voting (Ofov), registration for overseas voting remains open until September 30, 2027. “Make sure to register and participate in shaping the future of our nation. Don’t miss this opportunity to exercise your right to vote,” the Comelec - Ofov said in a social media post. Fi l ipi nos abroad who w i l l be at lea st 18 yea rs old on or before May 8, 2028 are elig ible to apply. See “Polls,” A4

Thursday, December 18, 2025

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DBM okays one-time SRI grant By Reine Juvierre S. Alberto @reine_alberto

HE Department of Budget and Management (DBM) has authorized this year’s grant of a one-time Service Recognition Incentive (SRI) of up to P20,000 to qualified government employees.

On December 15, Acting Secretary Rolando U. Toledo issued Budget Circular 2025-3 to provide the guidelines on the grant of SRI to government employees. According to the circular, the SRI must be given between December 15 to December 31, 2025, to civilian personnel in national government agencies, including state universities and colleges (SUCs) and government-owned and -controlled corporations (GOCCs).

Military and uniformed personnel, employees in the Legislative and Judicial branches and other offices with fiscal autonomy, as well as workers in local governments (LGUs) and local water districts (LWDs), will also receive the SRI. To qualify, personnel must be in government service as of November 30, 2025, and must have rendered at least four months of satisfactory service by that date to receive the full incentive.

Employees who rendered less than four months of service may still receive a pro-rated SRI, ranging from 40 percent to 10 percent, depending on the length of service. The DBM clarified that job order and contract-of-service workers, consultants, experts, student workers, apprentices and individuals without an employer-employee relationship are excluded from the grant. As for the funding, the circular said national government agencies, including uniformed services and SUCs, will charge the SRI against their available personnel services allotments under the 2025 General Appropriations Act. Meanwhile, GOCCs will fund the incentive from their approved corporate operating budgets for the year. LGUs may grant the SRI subject to their financial capability and personnel services limitations under the Local Government Code, with payments chargeable against local government funds and, if

necessary, supplemental budgets. If an agency’s funding source is insufficient to cover the full P20,000, it may grant a lower but uniform amount to all qualified employees. The DBM is requiring agencies to submit an online report by January 31, 2026, detailing the number of beneficiaries, amounts paid and funding sources. “The responsible officers shall be held liable for any payment not in accordance with the provisions hereof without prejudice to the refund by the employees concerned of any excess or unauthorized payments,” the circular read. “The one-time SRI for FY 2025 is being granted to the qualified government personnel in recognition of their collective and invaluable contributions to the government’s continuing efforts in pursuing the objectives, commitments, targets, and deliverables under the Philippine Development Plan 2023-2028 and the President’s 8-Point Socioeconomic Agenda,” it added.

March new deadline for housing compliance By Bless Aubrey Ogerio

HE Department of Human Settlements and Urban Development (DHSUD) has extended until March 31 next year the deadline for private developers to comply with the Balanced Housing Development Program (BHDP), marking what the agency described as the final suspension of penalties for noncompliance. In a memorandum issued on December 15, the DHSUD said

Discaya. . . Continued from A3

Sandiganbayan. Under R A 106660, the RTC has exclusive original jurisdiction when the graft case does not involve damage to the government or any bribery; or when it involves damage to the government or bribery arising from transactions not exceeding P1 million. On the other hand, jurisdiction over graft cases involving public officers occupying positions lower than Salar y Grade 27 belong to the RTC, Metropolitan Trial Court, Municipal Trial Court, and Municipal Circuit Trial Court in accordance with Batas Pambansa 129 or the Judiciar y Reorganization Act. The SC said five courts were designated as special courts for corruption-related cases; five in Regional III (Central Luzon; four in Region IV-A (Calabarzon or Cavite, Laguna, Batangas, Rizal and Quezon), four in Region V (Bicol Region); four in Region VII (Central Visayas); and four in Region XI (Davao Region). Joel R. San Juan

the continued economic strain and limited recovery time following recent typhoons, earthquakes and other disruptive events prompted the extension of the effectivity of ancillary sanctions tied to the program. The new deadline replaces the earlier December 31 cutoff set for developers to meet the requirements of Republic Act 10884, particularly its provision mandating compliance with the BHDP. “Private developers are our

partners in nation-building. It is important that they continue construction so we can contribute to growing the economy amid the current situation,” Aliling said in Filipino. The issue of noncompliance su r faced i n Ju ly du r i ng t he implementation of the agency’s Zero Backlog Program, which reviewed pending and actionable items related to DHSUD’s regulator y functions. The review found that some

private developers had yet to meet their obligations under the balanced housing requirement. Under Republic Act 10884, developers of new residential subdivisions and condominium projects are required to allocate a portion of their developments to socialized housing or comply through approved alternative modes. The law sets the requirement at 15 percent for subdivision projects and 5 percent for condominium developments.

House makes AICS program permanent

HE House of Representatives has approved on third and final reading a measure institutionalizing the Assistance to Individuals in Crisis Situations (AICS) Program of the Department of Social Welfare and Development (DSWD), providing penalties for unlawful acts and appropriating funds for its implementation. With a vote of 270-8-2 on Tuesday, lawmakers passed House Bill 6636, which institutionalizes the AICS program to improve the quality of life of Filipinos facing crisis situations. Under the measure, qualified beneficiaries are entitled to various forms of assistance, including financial, medical, transportation, food, and material aid. The program also covers referral services, psychosocial support or intervention, and legal consultation, subject to assessment by DSWD social workers. The bill establishes an Integrated Program Delivery System that concerned government agencies and local governments (LGUs) may access to identify available assis-

tance for beneficiaries. The system also aims to augment assistance and prevent possible abuse of the AICS program. To ensure effective implementation, the measure provides for the minimum personnel complement of the Crisis Intervention Division and Crisis Intervention Units. It authorizes the DSWD, in coordination with the Department of Budget and Management and the Civil Service Commission, to create the necessar y plantilla positions and staffing pattern. The bill also defines unlawful acts and corresponding penalties to deter abuse of the program. Under Section 13, any person who commits unlawful acts shall be punished by imprisonment of up to six months. If the offender is a local government official or employee, administrative liability shall likewise apply. For individuals, groups, or organizations found guilty of violating the law, penalties include a one-year suspension from availing of DSWD assistance for a first offense and

imprisonment of one to six years for a second offense. Additionally, the measure mandates public and private entities providing services under the AICS program to accept guarantee letters, coupons, checks, or vouchers issued by the DSWD as full or partial payment for the obligations of qualified beneficiaries. The bill also creates a Congressional Oversight Committee composed of five senators and five representatives, to be appointed by the Senate President and the Speaker, respectively. The committee will be co-chaired by the chairpersons of the Senate Committee on Social Justice, Welfare, and Rural Development and the House Committee on Social Services. The Oversight Committee is mandated to conduct a systematic evaluation of the program’s accomplishments and the performance of implementing agencies within two years from the law’s effectivity. The bill will be transmitted to the Senate for its own deliberations. Jovee Marie N. dela Cruz

House approves Blue Economy bill By Jovee Marie N. dela Cruz @joveemarie

HE House of Representatives on Wednesday approved on third and final reading a landmark measure establishing a national framework for the Blue Economy aimed at promoting stewardship and the sustainable development of the country’s coastal and marine ecosystems and resources. Voting 276-3-0, lawmakers overwhelmingly passed the bill, which sets a comprehensive and integrated approach to the sustainable and safe use of the Philippines’ marine wealth within its coastal and maritime domain. House Bill 6762 formulates a policy framework on the Blue Economy, a development model that provides a roadmap toward a diversified, sustainable, climate-smart, gender-responsive, and inclusive ocean economy. The framework aims to generate long-term economic and social benefits, strengthen climate resilience, and ensure that development does not compromise the safety and functional integrity of marine ecosystems. Central to the bill is the creation of the Blue Economy Council, which will be tasked to formulate, oversee, and coordinate an integrated national strategy for strengthening, growing, and sustaining the Philippine Blue Economy. The council will also lead efforts on integrated marine and coastal area management and ecosystem-based management of coastal and marine resources. To support evidence-based policymaking, the measure mandates the formation of a panel of technical and scientific experts from government agencies, academe, and relevant institutions specializing in ocean accounting, finance, technology, innovation, pollution control, and marine research. The Philippine Statistics Authority and the Department of Environment and Natural Resources are likewise directed to undertake environmental-economic accounting of ocean, coastal, and marine ecosystems in accordance with the Philippine Ecosystem and Natural Capital Accounting System (Pencas) Act. The bill also provides for the conduct of a nationwide Coastal and Marine Spatial Planning process, with the participation of key stakeholders, to identify priority activities and manage competing uses within maritime zones. National and local marine spatial plans and industry development plans are required to align with the Philippine Development Plan, Regional Development Plans, and the country’s long-term development framework. To spur investments, the measure encourages the establishment of Blue Economic Zones (BEZs) and the transformation of existing special economic zones into BEZs. Enterprises engaged in ocean-based and ocean-related activities may qualify for fiscal and non-fiscal incentives under existing laws. In support of small-scale fishers and coastal communities, the bill ensures the enhancement and sustainability of municipal fisheries and promotes sustainable livelihoods to generate employment and equal opportunities. It also establishes a blue finance program, which includes standardized blue financial instruments, credit support, and incentives for projects and enterprises engaged in Blue Economy activities. The measure further recognizes marine science as a foundation of maritime governance, ensures national sovereignty and equitable benefit-sharing over marine genetic resources, and upholds the role of local government units in managing municipal waters, consistent with existing laws. Funding for the initial and continued implementation of the proposed Act will be sourced from the appropriations of concerned government agencies, the annual General Appropriations Act, and local government funds.

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Applications may be lodged at Philippine embassies and consulates, the Manila Economic and Cultural Office in Taiwan, designated Philippine posts overseas,

or at registration centers in the Philippines. Applicants must present a valid Philippine passport or, for seamen, a Seaman’s Record Book. Dual citizens are required to submit either original or certified true copy of their Order of Approval of Filipino Citizenship.

Housing agencies assist two Pasig communities

WO more communities in Pasig City received early Christmas gifts as the Social Housing Finance Corporation (SHFC), together with the Department of Human Settlements and Urban Development (DHSUD), delivered assistance to two Enhanced Community Mortgage Program (ECMP)-beneficiary communities on December 16. Housing Secretary Jose Ramon Aliling and SHFC President and Chief Executive Officer Federico Laxa led the ceremonial turnover of checks worth over P23 million for the acquisition of land in barangay

Pinagbuhatan, where the beneficiaries’ homes currently stand. In addition, SHFC turned over grants covering the documentary stamp tax on the mortgage of both associations. This initiative forms part of the ECMP’s transformative approach under President Marcos’ Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, which goes beyond land acquisition by providing complementary support that upliftsthe living conditions of the communities. “This is truly a perfect Christmas gift for our ECMP communities,” Laxa said. “Through the ECMP, we

are not only helping families acquire the land they call home, but we are also strengthening their security of tenure and ensuring a more stable future for them.” Laxa emphasized that the additional grants demonstrate SHFC’s commitment to holistic community development. He also shared that qualified beneficiaries from the two communities can get discounts on their water bills under the Enhanced Lifeline Program. This initiative stemmed from the recently signed deal between SHFC and the Metropolitan Waterworks and Sewerage System Regulatory Office.

Megaville 2 Home Owners Associaton Inc. is composed of 149 members, while Villa Soledad Hoai has 88 members. Both associations were also recipients of Certificates of Lot Award during the National Housing Expo held in October. Last week, SHFC also awarded checks worth over P21 million for the purchase of the property where another ECMP community, the Centennial Sunrise Hoai, is located. These three associations are part of the initially approved 34 ECMP projects that will benefit more than 5,800 families nationwide. Bless Aubrey Ogerio

Thursday, December 18, 2025

MIMAROPA and Zamboanga workers to get up to ₧51 pay hike By Justine Xyrah Garcia

INIMUM wage earners in MIMAROPA and Zamboanga Peninsula are set to receive daily pay increases of up to P51 following the approval by their respective regional boards. In MIMAROPA, the Regional Tripartite Wages and Productivity Board (RTWPB) - IV-B standardized the daily minimum wage at P455 across all private establishments, scrapping the previous tiered wage structure based on firm size. Under the wage order, workers in establishments employing 10 workers or more will receive a P25 daily increase, raising the minimum wage to P455 from P430. Those working in establishments with fewer than 10 workers will get a P51 increase, bringing their daily pay to the same P455 level from P404. The wage board said the increase was based on prevailing regional conditions, including an average 1.8-percent inflation rate from the last wage order and the region’s 4.4-percent economic growth from 2023 to 2024. The RTWPB-MIMAROPA also approved a P500 monthly minimum

pay increase for domestic workers, covering both live-in and live-out workers such as house helpers, nannies, cooks, gardeners, and laundry workers. Meanwhile, in the Zamboanga Peninsula, minimum wage earners are set to receive a P50 daily pay increase, to be implemented in two tranches. The RTWPB-IX said the first P25 increase will take effect upon the wage order’s effectivity, while the second P25 adjustment will be implemented starting June 1, 2026. Once fully implemented, the daily minimum wage for non-agricultural establishments, including retail and service firms employing 10 workers or more, will rise to P464 from P414. Workers in agricultural establishments and in retail or service firms employing one to nine workers will see their daily minimum wage increase to P451 from P401. The Zamboanga wage board said the adjustment followed consultations and public hearings in the region and was anchored on “existing socio-economic conditions.” All wage orders will take effect on January 1, 2026.

SC issues TRO for former Cebu City administrator By Joel R. San Juan @jrsanjuan1573

HE Supreme Court (SC) has issued a temporary restraining order (TRO) enjoining the Sandiganbayan from proceeding with the graft and malversation of public funds charges filed by the Office of the Ombudsman against former Cebu City Administrator Floro Casas Jr. In a three-page resolution, the Court’s First Division granted Casas’ plea for a TRO pending the Court’s resolution of his actual petition seeking to annul and set aside the resolutions issued by the Ombudsman on February 4, 2025 and October 2, 2025 which found probable cause to charge him with graft and malversation. The case stemmed from the alleged garbage-hauling anomaly at City Hall during the administration of former mayor Edgardo Labella. Casas said the resolutions were issued by the Ombudsman with grave abuse of discretion amounting to lack or in excess of jurisdiction.

“After deliberating on the petition for certiorari [with urgent prayer for the issuance of a Temporary Restraining Order and/or Writ of Preliminary Injunction] of the Resolution and the Joint Order dated February 4, 2025 and October 2, 2025, respectively, of the Ombudsman , the Court without giving due course thereto, resolved to require the respondents to comment thereon [not to file a motion to dismiss], within 10 days from notice,” the Court said. Casas was directed by the Court to post a bond in the amount of P1 million Chief Justice Alexander Gesmundo granted the TRO upon the written recommendation of the member-in-charge of the case. Casas na med Ombud sma n Jesus Crispin Remulla, Deputy Ombudsman Dante Vargas, Assistant Ombudsman Gaudioso Melendez, Preliminary Investigation, Administrative Adjudication and Prosecution chief Katherine Cenovesa-Mahawan, Graft Investigation and Prosecution Officer II Carla Chaves-Gonzaga, and the Sandiganbayan.

National Adaptation Plan localization pushed

HE Climate Change Commission (CCC), Department of the Interior and Local Government—Local Government Academy (DILG-LGA), Commission on Higher Education (CHED), and the Philippine Association of State Universities and Colleges (PASUC) have pledged to support the localization of the National Adaptation Plan (NAP_ 2023-2050). Officials and representatives from the said institutions have signed a “Commitment to Action” to strengthen collaboration to effectively implement the NAP at the local level. This is the country’s primary strategy for building resilience and reducing vulnerability to the impacts of climate change. Under the pledge, academic institutions committed to fully harness the potential of SUCs as centers of local knowledge, technology, and innovation, to provide LGUs with science-based data and tools for context-specific adaptation solutions. The agencies and SUCs further pledged to work together to train

and support local governments in conducting climate risk assessments, managing greenhouse gas inventories, and mainstreaming the NAP into their local development and land use plans. “Through knowledge sharing and collaboration, we can help nurture future world-class climate leaders, actors, and even future IPCC authors—individuals equipped to drive solutions at every level,” Senator Loren Legarda said in a statement. As support from national agencies, the CCC, DILG-LGA, and CHED are committed to assisting both SUCs and LGUs in formulating and implementing effective Local Climate Change Action Plans (LCCAPs), and to ensure that projects and programs are evidencebased and risk-informed. The Commitment to Action was signed during the Knowledge Exchange Forum, which was attended by presidents of SUCs and representatives from national agencies. See “CCC,” A9

Water privatization warning: Congress urged not to stay silent on PrimeWater deal By Jovee Marie N. Dela Cruz

@joveemarie

EMBERS of Congress were urged not to remain silent following the sale of PrimeWater Infrastructure Corporation—operator of numerous local water districts nationwide—to Crystal Bridges Holding Corp. of the Lucio Co Group, a deal that has raised serious concerns over the growing private control of water, a vital public utility affecting millions of Filipinos. A ssist a nt Major it y L eader Mark Anthony Santos of Las Piñas warned that the transaction should not be treated as a routine corporate acquisition, stressing

that PrimeWater directly operates local water districts that exist to deliver an essential public service. “Let’s be clear: PrimeWater is

not an ordinary company. It directly operates local water districts, which are inherently public utilities. These water districts should not be treated like shares that can be bought and sold as ordinary assets,” Santos said. He said the deal was carried out largely outside public scrutiny, with little to no consultation with consumers or local governments—despite widespread complaints over intermittent supply, unsafe and contaminated water, delayed infrastructure upgrades, and rising rates amid poor service. “Now we are told there is a new owner and that improvements will automatically follow. But a change in ownership does not automatically fix the system,” he added. Santos emphasized that while private-sector participation is not inherently wrong, water is fundamentally different from other industries because consumers have no real alternatives.

Edsa rehab cost cut to ₧6 billion with 8-month completion timeline

ROM P17 billion estimated cost of the Edsa rehabilitation project, set to begin on December 24, it was reduced to P6 billion, giving the government P11 billion in savings, Public Works Secretary Vince Dizon said. From two-year timetable, under the new plan, the long-delayed Edsa rehabilitation project will just take take 8 months: 4 months from Roxas Blvd. to Orense (Phase 1) and for the rest of Edsa (Phase 2). Based on the presentation during the.press conference, which was also attended by Metropolitan Manila Development Authority (MMDA) Chairman Romando Artes, the schedule of all the reblocking works/asphalt overlay will start at 11 p.m. of Dec. 24

until 4 a.m. of January 5, 2026 for Busway lanes (Northbound and Southbound). A sphalt overlay, lane to lane (Northbound and Southbound), will be conducted on January 5 until May 31, from 10 p.m. to 4 a.m. (Monday to Friday) while from 10 p.m. to 4 a.m. of January 5 to May 31, Friday to Sunday, will be the schedule for asphalt overlay and reblocking one lane/ bound (Northbound and Southbound). “Dahil sa Bagong teknolohiya na gagamitin natin. Dahil na rin sa adjustments natin...sa cost of materials na gagamitin natin, P6 billion na lang...that is less than almost one third of the original budget,” Dizon said.

Dizon said that from the original plan of reblock and overlay using traditional asphalt, they will reblock selected areas only and overlay using new asphalt. Originally, the plan was to use traditional asphalt, but under the new plan, they will use new asphalt technology using Stone Mastic Asphalt (SMA). Instead of lane by lane disruption, motorists will only experience minimal disruption. The advantages of the SMA according to the Department of Public Works and Highways: Stronger resistance to elements and heavier loads. More skid resistant; better resistance to water or moisture damage and; longer maintenance life. Claudeth Mocon-Ciriaco

Environmental data advances ‘PlanSmart’ initiative for climate-resilient communities By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) has partnered with the Department of Human Settlements and Urban Development (DHSUD) and the Department of Science and Technolog y (DOST) to modernize land use and development planning. Launched last month, PlanSmart for Sustainable Human Settlements combines spatial and hazard datasets, automated analytics, and accessible planning tools into a single digital platform that can be used by housing agencies and other stakeholders. Developed by DHSUD and DOST with support from the World Bank, the platform allows national agencies and local government units (LGUs) to create riskinformed, evidence-based, and climate-responsive plans. DENR Secretary Raphael P. M. Lotilla, DOST Secretary Renato U. Solidum Jr., and DHSUD Secretary Jose

Ramon R. Aliling signed a “Statement of Commitment” to institutionalize PlanSmart as a transformative planning innovation. The commitment highlights the importance of data-driven planning, interagency collaboration, and equipping LGUs with tools to develop resilient and wellplanned communities. In a statement, Secretary Lotilla underscored the role of environmental information and institutional collaboration in fostering resilient development. “PlanSmart for sustainable human settlements demonstrates that governance is most effective through institutional collaboration. It represents the beginning of a new era in data-driven, automated, and science-based planning,” Secretary Lotilla said. “By integ rat ing ha za rd infor m at ion f rom DOST, l a nd-use st a nd a rd s f rom DHSUD, a nd env ironment a l d at a sets f rom DENR , we a re equ ipping LGUs w it h t he tools to bu i ld sm a r t, sa fe, a nd sust a inable

commu n it ies,” he added. PlanSmart’s integrated modules support both local and provincial planning by harmonizing ecological profiles with climate and disaster risk assessments, generating comprehensive land use plans and zoning ordinances, preparing provincial development and physical framework plans, and incorporating resilient urban design principles into public spaces and built environments. Through consolidated datasets and streamlined workf lows, LGUs can develop data-driven and climate-responsive land use plans more efficiently. The DENR’s role includes contributing to data mapping and harmonization activities to identify sectoral data needs, consolidate agency feedback, evaluate available information systems, and explore mechanisms and protocols for data sharing. This strengthens the environment sector’s role in harmonized ecological profiling and land use See “PlanSmart,” A9

“We need investment and technical capacity in water infrastructure. But it’s a different matter when we’re talking about an essential service. When it comes to water, people have no choice. You can’t just tell them to switch providers,” he explained. He also raised concerns over who will ultimately shoulder the cost of the acquisition, warning that consumers may end up paying through higher water rates. “If PrimeWater was sold for a high price, who will recover those costs? Will the public pay for a corporate deal they had no say in?” Santos asked. Calling on lawmakers to take an active role, Santos said Congress has a duty to ensure that consumer welfare is protected amid major shifts in ownership and control in the water sector. “We are simultaneously facing climate change, aging water systems, a growing population, and See “PrimeWater,” A9

PRC urges public to keep donating blood to prepare for ‘lean months’ dip

HILE their blood supply remains stable, the Philippine Red Cross (PRC) on Wednesday still encourages the public to continue donate blood for to prepare for the annual “lean months,” the period when donor turnout traditionally slows due to school breaks, vacations, and year-end activities, even as the need for blood in hospitals remains constant. PRC Chairman and CEO Richard J. Gordon said sustaining adequate reserves requires continuous public participation. “We are not facing a shortage. But during the holidays, fewer people come in to donate. Emergencies, surgeries, childbirth, and cancer treatments do not take a holiday, so we encourage Filipinos to keep blood donation in mind during this season of giving,” said Gordon. PRC observes a regular dip in blood donations toward the end of the year, particularly as mobile blood drives in schools and offices pause and families shift their focus to holiday plans. This seasonal slowdown highlights the importance of walk-in donors and community participation to maintain a healthy and ready blood supply across PRC blood centers nationwide. “During the holiday season, many people travel, celebrate, and adjust their routines, which often means that fewer blood donors come forward. From December through late January, blood collections usually stagnate or decline, yet the need for blood remains constant. While the PRC has a stable blood supply, many patients schedule surgeries during this period,” said PRC Secretary General Dr. Gwen Pang. Pang said that there are also others who continue ongoing treatments such as dialysis and cancer care, or face emergency cases such as accidents and hemorrhages. “By donating blood, we can offer someone the true gift of life this season,” she added. PRC encourages healthy individuals aged 16 to 65 to visit their nearest Red Cross blood donation center or mobile blood drive. Donors are advised to have adequate See “PRC,” A9

Thursday, December 18, 2025

TheWorld

Editor: Angel R. Calso

35 nations approve Ukraine compensation plan; frozen Russian assets eyed for funding By Molly Quell

The Associated Press

HE H AGUE , Net her lands—Ukrainian President Volodymyr Zelenskyy and 34 other countries formally approved plans Tuesday to create a compensation body to pay for damages to Ukraine caused by the Russian invasion, but questions remain about where the money will come from. Zelenskyy told leaders gathered in the Dutch city of The Hague that he hopes for strong international support so “any damage caused by the war can be compensated.” The Council of Europe, the

continent’s preeminent human rights organization, has facilitated the International Claims Commission, which will allow Ukrainians to seek compensation for “damage, loss or injury” caused by Russia since the fullscale invasion began in February 2022. The Council of Europe is adamant that Russia must foot the bill, but there is no clear pathway for forcing Moscow to pay. One proposal is to use some of the tens of billions of dollars in frozen Russian assets held in Europe. “The aggressor must pay,” Zelenskyy told the Dutch parliament earlier Tuesday. On Monday, he attended peace

UKRAINE’S President Volodymyr Zelenskyy, right, attends a parliament session in The Hague, Netherlands, Tuesday, Dec. 16, 2025. ROBIN VAN LONKHUIJSEN/POOL PHOTO VIA AP

talks in Berlin with US President Donald Trump’s special envoy Steve Witkoff, Trump’s son-in-

law Jared Kushner and German Chancellor Friedrich Merz. Zelenskyy voiced readiness to drop

his country’s bid to join NATO in exchange for Western security guarantees, but rejected the US push for ceding territory to Russia. “ These security guarantees are an opportunity to prevent another wave of Russian aggression,” he told journalists. “And this is already a compromise on our part.” Thirty-five countries backed the International Claims Commission, but they now must ratify the treaty, a process which usually requires legislature approval. That level of support is unprecedented for the start of a Council of Europe treaty. The commission will assess claims made to the already opera-

tional register of damages, which was launched during a Council of Europe summit in 2023. Some 80,000 claims have already been filed with the register, which is based in The Hague. EU foreign policy chief Kaja Kallas told a press conference the bloc would give one million euros ($1.1 million) to finance the commission’s operation. An estimated 3.5 million euros ($4.1 million) are needed overall. Many of the same countries have also backed a new international court, also under the umbrella of the Council of Europe, to prosecute senior Russian officials for the full-scale invasion of Ukraine.

Sydney gunman charged with 59 offenses, including 15 counts of murder, following Bondi Beach massacre By Charlotte Graham-Mclay, Kristen Gelineau & Rod Mcguirk The Associated Press

YDNEY—An accused gunman in Sydney’s Bondi Beach massacre was charged with 59 offenses including 15 charges of murder on Wednesday, as hun-

dreds of mourners gathered in Sydney to begin funerals for the victims. Two shooters slaughtered 15 people on Sunday in an antisemitic mass shooting targeting Jews celebrating Hanukkah at Bondi Beach, and more than 20 other people are still being treated in hospitals. All of those killed by the

gunmen who have been identified so far were Jewish. A countr y reeling from its deadliest hate-fueled massacre of modern times turned to searching questions, growing in volume since the attack, about how it was able to happen. As investigations unfold, Australia faces a social and political reckoning about antisemitism, gun control and whether police protections for Jews at events such as Sunday’s were sufficient for the threats they faced.

Accused shooter charged in hospital

NAVEED Akram, the 24-year-old alleged shooter, was charged on Wednesday after waking from a coma in a Sydney hospital, where he has been since police shot him and his gunman father at Bondi.

His 50-year-old father Sajid Akram died at the scene. The charges include one count of murder for each fatality and one count of committing a terrorist act, police said. Akram was also charged with 40 counts of causing harm with intent to murder in relation to the wounded and with placing an explosive near a building with intent to cause harm. Police said the Akrams’ car, which was found at the crime scene, contained improvised explosive devices. Akram’s lawyer did not enter pleas and did not request his client’s release on bail during a video court appearance from his hospital bed, a court statement said. See “Bondi,” A7

TheWorld

www.businessmirror.com.ph

Thursday, December 18, 2025

Trump orders blockade of ‘sanctioned oil tankers’ into Venezuela, ramping up pressure on Maduro By Michelle L. Price

The Associated Press

ASHINGTON—President Donald Trump said Tuesday he is ordering a blockade of all “sanctioned oil tankers” into Venezuela, ramping up pressure on the country’s authoritarian leader Nicolás Maduro in a move that seemed designed to put a tighter chokehold on the South American country’s economy.

Trump’s escalation comes after US forces last week seized an oil tanker off Venezuela’s coast, an unusual move that followed a buildup of military forces in the region. In a post on social media Tuesday night announcing the blockade, Trump alleged Venezuela was using oil to fund drug trafficking and other crimes and vowed to continue the military buildup until the country gave the US oil, land and assets, though it was not clear why he felt the US had a claim. “Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America,” Trump said in a post on his social media platform. “It will only get bigger, and the shock to them will be like nothing they have ever seen before— Until such time as they return to

the United States of America all of the Oil, Land, and other Assets that they previously stole from us.” Pentagon officials referred all questions about the post to the White House. Venezuela’s government released a statement Tuesday accusing Trump of “violating international law, free trade, and the principle of free navigation” with “a reckless and grave threat” against the South American country. “On his social media, he assumes that Venezuela’s oil, land, and mineral wealth are his property,” the statement said of Trump’s post. “Consequently, he demands that Venezuela immediately hand over all its riches. The President of the United States intends to impose, in an utterly irrational manner, a supposed naval blockade on Venezuela with the aim of

stealing the wealth that belongs to our nation.” Maduro’s government, according to the statement, plans to denounce the situation before the United Nations. The US buildup has been accompanied by a series of military strikes on boats in international waters in the Caribbean and eastern Pacific. The campaign, which has drawn bipartisan scrutiny among US lawmakers, has killed at least 95 people in 25 known strikes on vessels. Trump has for weeks said that the US will move its campaign beyond the water and start strikes on land. The Trump administration has defended the strikes as a success, saying they have prevented drugs from reaching American shores, and pushed back on concerns that they are stretching the bounds of lawful warfare. The Trump administration has said the campaign is about stopping drugs headed to the US, but Trump’s chief of staff Susie Wiles appeared to confirm in a Vanity Fair interview published Tuesday that the campaign is part of a push to oust Maduro. Wiles said Trump “wants to keep on blowing boats up until Maduro cries uncle.” Tuesday night’s announcement seemed to have a similar aim. Venezue l a , wh ic h h a s t he world’s largest proven oil reserves and produces about 1 million barrels a day, has long relied on oil revenue as a lifeblood of its economy. Since the Trump administration began imposing oil sanctions

PRESIDENT Nicolas Maduro joins a rally marking the anniversary of the Battle of Santa Ines, which took place during Venezuela’s 19th-century Federal War, in Caracas, Venezuela, Wednesday, Dec. 10, 2025. AP/CRISTIAN HERNANDEZ

on Venezuela in 2017, Maduro’s government has relied on a shadowy fleet of unflagged tankers to smuggle crude into global supply chains. The state-owned oil company Petróleos de Venezuela S.A., commonly known as PDVSA, has been locked out of global oil markets by US sanctions. It sells most of its exports at a steep discount in the black market in China. Francisco Monaldi, a Venezuelan oil expert at Rice University in Houston, said about 850,000 barrels of the 1 million daily production is exported. Of that, he said, 80% goes to China, 15% to 17% goes to the US through Chevron Corp., and the remainder goes to Cuba. In October, Trump appeared to confirm reports that Maduro has offered a stake in Venezu-

ela’s oil and other mineral wealth in recent months to try to stave off mounting pressure from the United States. “He’s of fered ever y t hing ,” Trump said at the time. “You know why? Because he doesn’t want to f—- around with the United States.” It wasn’t immediately clear how the US planned to enact what Trump called a “ TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela.” But the US Navy has 11 ships, including an aircraft carrier and several amphibious assault ships, in the region. Those ships carry a wide complement of aircraft, including helicopters and V-22 Ospreys. Additionally, the Navy has been operating a handful of P-8 Poseidon maritime patrol

aircraft in the region. All told, those assets provide the military a significant ability to monitor marine traffic coming in and out of the country. Trump in his post said that the “Venezuelan Regime has been designated a FOREIGN TERRORIST ORGANIZATION,” but it wasn’t clear what he was referring to. T he f ore i g n t e r ror i s t or g a n i z at i o n d e s i g n at i o n h a s been h istor ic a l ly reser ved for non-st ate actors t hat do not have sovereig n immu nit ies confer red by eit her t reat ies or Un ited Nat ions membersh ip. In November, the Trump administration announced it was designating the Cartel de los Soles as a foreign terrorist organization. The term Cartel de los Soles originally referred to Venezuelan military officers involved in drugrunning, but it is not a cartel per se. Governments that US administrations seek to sanction for financing, otherwise fomenting or tolerating extremist violence are usually designated “state sponsors of terrorism.” Venezuela is not on that list. In rare cases, the US has designated an element of a foreign government as an “FTO.” The Trump administration in its first term did so with the Iranian Revolutionary Guard Corps, an arm of the Iranian government, which had already been designated a state sponsor of terrorism. The Associated Press writers Konstantin Toropin and Matt Le in Washington and Regina Garcia Cano in Caracas, Venezuela, contributed to this report.

Zelenskyy says proposals to end the war could be presented to Russia within days By Illia Novikov

YIV, Ukraine—Ukrainian President Volodymyr Zelenskyy says proposals being negotiated with US officials for a deal to end the fighting in Russia’s nearly 4-year-old invasion of his country could be finalized within days, after which American

envoys will present them to the Kremlin before possible further meetings in the US next weekend. A draft peace plan discussed with the US during talks in Berlin on Monday is “not perfect” but is “very workable,” Zelenskyy told reporters hours after the discussions. He cautioned, however, that some key issues—notably what happens to Ukrainian territory

Bondi. . .

it,” Ulman said. “But I think it should’ve been said more often.”

The Associated Press

Continued from A6

Akram was represented by Legal Aid NSW which has a policy of refusing media comment on behalf of clients. He is expected to remain under police guard in hospital until he is well enough to be transferred to a prison.

A father of 5 who ministered in prisons is buried

FAMILIES from Sydney’s close-knit Jewish community gathered, one after another, to begin to bury their dead. The victims of the attack ranged in age from a 10-year-old girl to an 87-year-old Holocaust survivor. The first farewelled was Eli Schlanger, 41, a husband and father of five who served as the assistant rabbi at Chabad-Lubavitch of Bondi and organized Sunday’s Chanukah by the Sea event where the attack unfolded. The London-born Schlanger also served as chaplain in prisons across New South Wales state and in a Sydney hospital. “After what happened, my biggest regret was—apart from, obviously, the obvious – I could have done more to tell Eli more often how much we love him, how much I love him, how much we appreciate everything that he does and how proud we are of him,” said Schlanger’s father-in-law, Rabbi Yehoram Ulman, who sometimes spoke through tears. “I hope he knew that. I’m sure he knew

occupied by Russian forces—remain unresolved. US-led peace efforts appear to be picking up momentum. But as the spotlight shifts to Moscow, Russian President Vladimir Putin may balk at some of the proposals thrashed out by officials from Washington, Kyiv and Western Europe, including postwar security guarantees for Ukraine.

Zelenskyy said that after the Berlin talks, “we are very close to (a deal on) strong security guarantees.” The security proposal will be based on Western help in keeping the Ukrainian army strong, an official from a NATO nation said, speaking on condition of anonymity to discuss sensitive matters. “Europeans will lead a multi-

Funerals draw heavy police presence

OUTSIDE the funeral, not far from the site of the attack, the mood was hushed and grim, with a heavy police presence. Jews are usually buried within 24 hours from their deaths, but funerals have been delayed by coroner’s investigations. One mourner, Dmitry Chlafma, said as he left the service that Schlanger was his longtime rabbi. “You can tell by the amount of people that are here how much he meant to the community,” Chlafma said. “He was warm, happy, generous, one of a kind.” Among others killed were Boris and Sofia Gurman, a husband and wife aged in their 60s who were fatally shot as they tried to disarm one of the gunmen when he got out of his car to begin the attack. Another Jewish man in his 60s, Reuven Morrison, was gunned down by one shooter while he threw bricks at the other, his daughter said. Many children attended the Hanukkah event, which featured face painting, treats and a petting zoo. The youngest killed was Matilda, 10, whose parents urged attendees at a vigil on Tuesday night to remember her name. “It stays here,” said Matilda’s mother, who identified herself only as Valentyna, pressing her hand over her heart. “It just stays here and here.” Authorities are probing a suspected

national and multi-domain force to strengthen those troops and to secure Ukraine from the land, sea and air, and the US will lead a ceasefire monitoring and verification mechanism, with international participation,” the official said. Kremlin spokesman Dmitry Peskov repeated Tuesday that Russia wants a comprehensive peace deal, not a temporary truce.

If Ukraine seeks “momentary, unsustainable solutions, we are unlikely to be ready to participate,” he said. “We want peace—we don’t want a truce that would give Ukraine a respite and prepare for the continuation of the war,” he told reporters. “We want to stop this

Europe in the past. Philippine military and police officials say there has been no recent indication of any foreign militants in the country’s south. The younger suspect was Australianborn. Indian police on Tuesday said the older suspect was originally from the southern city of Hyderabad, migrated to Australia in 1998 and held an Indian passport.

restrict access to guns, in part because it emerged the older suspect had amassed six weapons legally. Proposed measures include restricting gun ownership to Australian citizens and limiting the number of weapons a person can hold.

Leader pledges action on guns and antisemitism

FAMILY members mourn beside the coffin of Rabbi Eli Schlanger, a victim of the Bondi Beach mass shooting, during his funeral at a synagogue in Bondi on Wednesday, Dec. 17, 2025, in Sydney, Australia. AP/MARK BAKER

connection to the Islamic State group Authorities believe that the shooting was “a terrorist attack inspired by Islamic State,” Australia’s federal police commissioner Krissy Barrett said Wednesday. The Islamic State group is a scattered and considerably weaker group since a 2019 US-led military intervention drove it out of territory it had seized in Iraq and Syria, but its cells remain active and it has inspired a number of independent attacks including in western countries. The authorities have said that Naveed Akram came to the attention of the security services in 2019 but have supplied little

detail of their previous investigations. Now authorities will probe what was known about the men. That includes examining a trip the suspects made to the Philippines in November. The Philippines Bureau of Immigration confirmed Tuesday that the two suspected shooters traveled to the country from Nov. 1 to Nov. 28, giving the city of Davao as their final destination. Groups of Muslim separatist militants, including Abu Sayyaf in the southern Philippines, once expressed support for IS and have hosted small numbers of foreign militants from Asia, the Middle East and

THE news that the suspects were apparently inspired by the Islamic State group provoked more questions about whether Australia’s government had done enough to stem hatefueled crimes, especially directed at Jews. In Sydney and Melbourne, where 85% of Australia’s Jewish population lives, a wave of antisemitic attacks has been recorded in the past year. After Jewish leaders and survivors of Sunday’s attack lambasted the government for not heeding their warnings of violence, P r i m e M i n i s t e r A n t h o ny A l b a n e s e vowed Wednesday to take whatever government action was needed to stamp out antisemitism. Albanese and the leaders of some Australian states have pledged to tighten the country’s already strict gun laws in what would be the most sweeping reforms since a shooter killed 35 people in Port Arthur, Tasmania, in 1996. Mass shootings in Australia have since been rare. Albanese announced plans to further

See “Zelenskyy,” A8

Australians come together to grieve

MEANWHILE, Australians seeking ways to make sense of the horror settled on practical acts. Hours-long lines were reported at blood donation sites and at dawn on Wednesday, hundreds of swimmers formed a circle on the sand, where they held a minute’s silence. Then they ran into the sea. Not far away, part of the beach remained behind police tape as the investigation into the massacre continued, shoes and towels abandoned as people fled still strewn across the sand. One event that would return to Bondi was the Hanukkah celebration the gunmen targeted, which has run for 31 years, Ulman said. It would be in defiance of the attackers’ wish to make people feel like it was dangerous to live as Jews, he added. “Eli lived and breathed this idea that we can never ever allow them not only to succeed, but anytime that they try something we become greater and stronger,” he said. “We’re going to show the world that the Jewish people are unbeatable.” Graham-McLay reported from Wellington and McGuirk from Melbourne.

TheWorld

Thursday, December 18, 2025

www.businessmirror.com.ph

Trump expands travel restrictions US stocks drift as mixed economic data clouds interest rate outlook to include additional 20 countries By Stan Choe

AP Business Writer

By Rebecca Santana The Associated Press

A S H I N G T O N —T h e Trump administration announced Tuesday it was expanding travel restrictions to an additional 20 countries and the Palestinian Authority, doubling the number of nations affected by sweeping limits announced earlier this year on who can travel and emigrate to the US. The Trump administration included five more countries as well as people traveling on documents issued by the Palestinian Authority to the list of countries facing a full ban on travel to the US and imposed new limits on 15 other countries. The move is part of ongoing efforts by the administration to tighten US entry standards for travel and immigration, in what critics say unfairly prevents travel for people from a broad range of countries. The administration suggested it would expand the restrictions after the arrest of an Afghan national suspect in the shooting of two National Guard troops over Thanksgiving weekend. People who already have visas, are lawful permanent residents of the US or have certain visa categories such as diplomats or athletes, or whose entry into the country is believed to serve the US interest, are all exempt from the restrictions. The proclamation said the changes go into effect on Jan. 1. In June, President Dona ld Trump announced that citizens of 12 countries would be banned from coming to the United States and those from seven others would face restrictions. The decision resurrected a hallmark policy of his first term. At the time the ban included Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya,

Somalia, Sudan and Yemen and heightened restrictions on visitors from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela. On Tuesday, the Republican administration announced it was expanding the list of countries whose citizens are banned from entering the US to Burkina Faso, Mali, Niger, South Sudan and Syria. The administration also fully restricted travel on people with Palestinian Authority-issued travel documents, the latest US travel restriction against Palestinians. South Sudan was also facing significant travel restrictions already. An additional 15 countries are also being added to the list of countries facing partial restrictions: Angola, Antigua and Barbuda, Benin, Ivory Coast, Dominica, Gabon, Gambia, Malawi, Mauritania, Nigeria, Senegal, Tanzania, Tonga, Zambia and Zimbabwe. The restrictions apply to both people seeking to travel to the US as visitors or to emigrate there. The Trump administration said in its announcement that many of the countries from which it was restricting travel had “widespread corruption, fraudulent or unreliable civil documents and criminal records” that made it difficult to vet their citizens for travel to the US. It also said some countries had high rates of people overstaying their visas, refused to take back their citizens whom the US wished to deport or had a “general lack of stability and government control,” which made vetting difficult. It also cited immigration enforcement, foreign policy and national security concerns for the move. T he A f g h a n m a n a c c u s e d of shooting the two National Guard troops near the W hite House has pleaded not guilty to murder and assault charges. In the aftermath of that incident,

the administration announced a f lurr y of immigration restrictions, including further restrict ion s on p e ople f rom t hose initial 19 countries who were already in the US. The news of the expanding travel ban is likely to face fierce opposition from critics who have argued that the administration is using national security concerns to collectively keep out people from a wide range of countries. “This expanded ban is not about national security but instead is another shameful attempt to demonize people simply for where they are from,” said Laurie Ball Cooper, vice president of US Legal Programs at the International Refugee Assistance Project. Advocates for Afghans who supported the United States’ two-decade long war in Afghanistan also raised alarms Tuesday, saying the updated travel ban no longer contains an exception for Afghans who qualify for the Special Immigrant Visa. That’s a visa category specifically for Afghans who closely assisted the US war effort at great risk to themselves. No One Left Behind, a longtime agency advocating for the Special Immigrant Visa program, said it was “deeply concerned” about the change. The organization said it appreciated the president’s commitment to national security but allowing Afghans who’d served the US to enter the US—after extensive vetting—also contributes to the country’s security. “Though intended to allow for review of inconsistent vetting processes, this policy change inadvertently restricts those who are among the most rigorously vetted in our history: the wartime allies targeted by the terrorists this proclamation seeks to address,” the organization said in a statement. Countries that were newly placed on the list of banned

or restricted countries said late Tuesday that they were evaluating the news. The government of the island nation of Dominica in the Caribbean Sea said it was treating the issue with the “utmost seriousness and urgency” and was reaching out to US officials to clarify what the restrictions mean and address any problems. Antigua and Barbuda’s ambassador to the United States, Ronald Saunders, said the “matter is quite serious” and he’ll be seeking more information from US officials regarding the new restrictions. The Trump administration also upgraded restrictions on some countries—Laos and Sierra Leone—that previously were on the partially restricted list and in one case—Turkmenistan—said the country had improved enough to warrant easing some restrictions on travelers from that country. Everything else from the previous travel restrictions announced in June remains in place, the administration said. The new restrictions on Palestinians come months after the administration imposed limits that make it nearly impossible for anyone holding a Palestinian Authority passport from receiving travel documents to visit the US for business, work, pleasure or educational purposes. The announcement Tuesday goes further, banning people with Palestinian Authority passports from emigrating to the US. In justifying its decision Tuesday, the administration said several “US-designated terrorist groups operate actively in the West Bank or Gaza Strip and have murdered American citizens.” The administration also said the recent war in those areas had “likely resulted in compromised vetting and screening abilities.”

Anika Kentish in Saint John’s, Antigua, contributed to this report.

EW YORK—The US stock market drifted through a mixed day of trading Tuesday after reports on the economy did little to clear uncertainty about where interest rates may be heading. The S&P 500 slipped 0.2% and remains a bit below its all-time high set last week. The Dow Jones Industrial Average dipped 302 points, or 0.6%, and the Nasdaq composite rose 0.2%. Treasury yields eased in the bond market after one report said the US unemployment rate was at its worst level since 2021, but employers also added more jobs last month than economists expected. A separate report, meanwhile, said an underlying measure of strength for revenue at US retailers grew more in October than economists expected. The mixed data meant little change in traders’ hopes that the Federal Reserve may continue to cut interest rates further in 2026. What the Fed does with interest rates is a top driver for financial markets because lower rates can boost the economy and prices for investments, even if they also may worsen inflation. A report coming on Thursday will show how bad inflation was last month, and economists expect it to show prices for US consumers continue to rise faster than anyone would like. A report released on Tuesday after US stocks began trading suggested price pressures are rising sharply, with average selling prices for businesses climbing at one of the fastest rates since the middle of 2022. The preliminary data from S&P Global also said growth for overall business activity slowed to its weakest level since June. “Higher prices are again being widely blamed on tariffs, with an initial impact on manufacturing now increasingly spilling over to services to broaden the affordability problem,” according to Chris Williamson, chief business economist at S&P Global Market Intelligence. On Wall Street, the sharpest losses came from companies in the oil business as prices for crude kept sliding. Expectations that companies are pumping more than enough oil to meet the world’s demand have sent the price for a

barrel of benchmark US crude to its lowest level since 2021. It fell 2.7% Monday, as did Brent crude, the international standard. US crude settled at $55.27 per barrel, while Brent settled at $58.92. That drove APA’s stock down 5.2%. Marathon Petroleum sank 4.7% and Halliburton dropped 4.3% for some of Wall Street’s larger losses. Artificial intelligence technology stocks, meanwhile, were mixed after dominating the market in recent days. Oracle rose 2%, and Broadcom added 0.4%. They both had dropped to sharp losses last week, even though both reported stronger profits for the latest quarter than analysts expected. But CoreWeave, which rents out access to top-of-the-line AI chips, fell 3.9%. Questions remain about whether all the spending underway on AI technology will produce the kind of profits and productivity that will make it worth the expense. Elsewhere on Wall Street, Pfizer fell 3.4% after giving a forecast for profit in 2026 that was below what some analysts expected. Its forecast for revenue next year was close to analysts’ expectations. Kraft Heinz added 0.7% after saying Steve Cahillane, who was most recently CEO of Kellanova, will join as CEO on Jan. 1. After Kraft Heinz splits into two companies, which is expected to happen in the second half of 2026, Cahillane will lead the one that will hold onto the Heinz, Philadelphia and Kraft Mac & Cheese brands. All told, the S&P 500 fell 16.25 points to 6,800.26. The Dow Jones Industrial Average dropped 302.30 to 48,114.26, and the Nasdaq composite rose 54.05 to 23,111.46. In stock markets abroad, indexes fell across much of Europe and Asia. Japan’s Nikkei 225 dropped 1.6% ahead of an expected hike to interest rates by the Bank of Japan later this week. Other markets in Asia also had some of the world’s sharper swings. South Korea’s Kospi dropped 2.2%, while indexes fell 1.5% in Hong Kong and 1.1% in Shanghai. In the bond market, the yield on the 10-year Treasury fell to 4.14% from 4.18% late Monday.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

The US gained 64,000 jobs in November but lost 105,000 in October; unemployment rate at 4.6% By Paul Wiseman

AP Economics Writer

ASHINGTON—The United States gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump administration, the government said in delayed reports. The unemployment rate rose to 4.6% last month, highest since 2021. The November job gains were higher than the 40,000 economists had forecast. The October job losses were caused by a 162,000 drop in federal workers, many of whom resigned at the end of fiscal year 2025 on Sept. 30 under pressure from billionaire Elon Musk’s purge of US government payrolls. Labor Depar tment revisions also knocked 33,000 jobs off August and September payrolls. Hiring has clearly lost momentum, hobbled by uncertainty over President Donald Trump’s tariffs and the lingering effects of the high interest rates the Fed engineered in 2022 and 2023 to rein in

an outburst of inflation. Since March, job creation has fallen to an average 35,000 a month, compared to 71,000 in the year ended in March. Both the October and November job creation numbers, released Tuesday by the Labor Department, came in late because of the 43-day federal government shutdown. Those delays have made deliberations more difficult at the Federal Reserve, where policymakers are divided over whether the labor market needs more help from lower interest rates. Worries about the job market were enough to nudge the Fed into cutting its benchmark interest rate by a quarter of a percentage point last week for the third time this year. But three Fed officials refused to go along with the move, the most dissents in six years. Two voted to keep the rate unchanged while inflation remains above the central bank’s 2% target. Stephen Miran, appointed by Trump to the Fed’s governing board in September, voted for a bigger cut—in line with what the president demands. Tuesday’s report shows that “the labor market remains weak, but the pace of

deterioration probably is too slow to spur the (Fed) to ease again in January,” Samuel Tombs, chief US economist at Pantheon Macroeconimics, wrote in a commentary. The Fed holds its next policy meeting Jan. 27-28. The unemployment rate, though still modest by historical standards, has risen since bottoming out at a 54-year low of 3.4% in April 2023. It rose from 4.4% in September, and the number of people in the labor force—those working or looking for work—increased 323,000 from September. A rate for October was not available because of the shutdown. Kevin Hassett, director of the White House National Economic Council, said that those pickups likely reflect former federal workers searching for new jobs. “Probably what’s going on is the 250,000 federal government workers who took the buyout are staying in the labor force and looking for work” and are therefore counted as unemployed until they find new jobs, Hassett told reporters. The latest jobs figures could decline in the coming months. Last week, Fed Chair

Zelenskyy. . . Continued from A7

war, achieve our goals, secure our interests, and guarantee peace in Europe for the future.” American officials said Monday there’s consensus from Ukraine and Europe on about 90% of the US-authored peace plan. US President Donald Trump said: “I think we’re closer now than we have been, ever” to a peace settlement. Plenty of potential pitfalls remain, notably

Jerome Powell said that the central bank thinks that hiring has been overcounted by about 60,000 jobs a month since spring. “You can say that the labor market has continued to cool gradually, maybe just a touch more gradually than we thought,” Powell said at a news conference. Workers’ average hourly earnings rose just 0.1% from October, the smallest gain since August 2023. Compared to a year earlier, pay was up 3.5%, the lowest since May 2021. Health care employers added more than 46,000 jobs in November, accounting for more than two-thirds of the 69,000 private sector jobs created last month. Construction companies added 28,000 jobs. Manufacturing shed jobs for the seventh straight month, losing 5,000 jobs in November. “The takeaway is that the labor market remains on a relatively soft footing, with employers showing little appetite to hire, but are also reluctant to fire,” Thomas Feltmate, senior economist at TD Economics, wrote in a commentary. “That said, labor demand has cooled more than supply in

the land issue. Zelensky y reiterated that Kyiv rules out recognizing Moscow’s control over any part of the Donbas, an economically important region in eastern Ukraine made up of Luhansk and Donetsk. Russia’s army doesn’t fully control either but Trump has previously indicated that Ukraine will have to cede territory. “The Americans are trying to find a compromise,” Zelenskyy said, before visiting the Netherlands on Tuesday. “They are proposing a ‘free economic zone’ (in the Donbas). And I want to stress once again: a

recent months, which is what’s behind the steady upward drift in the unemployment rate.’’ Adding to the uncertainty is the growing use of artificial intelligence and other technologies that can reduce demand for workers. “We’re in Lehigh Valley, which is a big transpor tation hub in eastern Pennsylvania,” said Matt Hobbie, vice president of the staffing firm HealthSkil in Allentown. “We’ve seen some cooling in the logistics and transportation markets, specifically because we’ve seen automation in those sectors, robotics.’’ Because of the government shutdown, many agencies are playing catch-up with economic data. The Labor Department finally put out the September jobs report on Nov. 20, seven weeks late. It published some of the October data—including a count of the jobs created that month by businesses, nonprofits and government agencies—along with the November report Tuesday. American companies are mostly holding onto the employees they have. But they’re

‘free economic zone’ does not mean under the control of the Russian Federation.” Putin wants all the areas in four key regions that his forces have seized, as well as the Crimean Peninsula, which Moscow illegally annexed in 2014, to be recognized as Russian territory. Zelenskyy warned that if Putin rejects diplomatic efforts, Ukraine expects increased Western pressure on Moscow, including tougher sanctions and additional military support for defense, such as enhanced air defense systems and long-range weapons. Zelenskyy said that what’s driving Kyiv officials in

reluctant to hire new ones as they struggle to assess how to use artificial intelligence and how to adjust to Trump’s unpredictable policies, especially his double-digit taxes on imports from around the world. The uncertainty leaves jobseekers struggling to find work. In May, Amy Beckrich, 54, of Farmington, Minnesota, lost her human relations job at a consulting firm. She’s since applied for more than 100 positions. Even landing interviews is difficult. She finally got one, waited 20 minutes—and the recruiter never showed up Her unemployment benefits ran out this month. “It’s tough going into the holidays without any prospects or income,’’ she said. Her husband is still employed, but they’ve had to cut back. They’ve put off replacing their car and rarely go out to eat anymore. “I feel like the hiring system is broken,’’ she said. “The human factor has completely disappeared.’’ AP Economics Writer Christopher Rugaber and AP Writer Josh Boak contributed to this story.

the negotiations is for Russia to be “held accountable for what it has done—for this war, for all the killings, for all the suffering.” Ukraine and the US are preparing up to five documents related to the peace framework, several of them focused on security, Zelenskyy said. He was upbeat about the progress in the Berlin talks. “Overall, there was a demonstration of unity,” Zelenskyy said. “It was truly positive in the sense that it reflected the unity of the US, Europe, and Ukraine.” Emma Burrows in London contributed.

Thursday, December 18, 2025

Massive teacher career boost: DepEd’s ECP system promotes 16,025, processes 41,183 more By Claudeth Mocon-Ciriaco

@claudethmc3

EACHERS are now seeing career advancement unfold within their years of active service through the Expanded Career Progression (ECP) system implemented under Education Secretary Juan Edgardo “Sonny” Angara’s leadership, as the Department of Education (DepEd) has formally promoted 16,025 teachers, with 41,183 more teachers processed and transmitted to the Department of Budget and Management (DBM).

“This reclassification is more than a promotion. It is a validation of decades spent teaching, mentoring, and believing in learners even when I feared retiring as a Teacher III after 21 years of service,” said Teacher Claire Eusebio, who advanced from Teacher III to Teacher VI at Magsaysay Elementary School in Tabuk City Division, Cordillera Administrative Region. Teacher Claire’s story mirrors that of thousands of teachers who, for years, worked with little expectation of career movement. Today, she stands among the thousands of teachers nationwide who achieved the maximum three-salary-grade jump, made possible by the systemwide push to implement the ECP. All regions reported processed appointments, indicating broad

early uptake of the career structure introduced during the Marcos administration. Angara said teachers like Eusebio represent both the urgency and the purpose of the reform pushed by President Ferdinand R. Marcos Jr. to prioritize teachers’ welfare. “Maraming guro ang matagal nang handang umangat. Ang responsibilidad namin ay alisin ang sagabal at tiyaking gumagalaw ang sistema para sa kanila,” he said. “Dapat nararanasan nila ang pag-angat habang nasa serbisyo pa. Sabi nga ng Pangulo, dapat walang magreretirong Teacher I.” Based on DepEd records, from the 41,183 queued for promotion, there are 18,007 teachers set to achieve the maximum three-salary-grade leap, while 29,017 others advanced by one or two grades as

DepEd continues to clear regional backlogs and process mobility across the teaching force. Of the three-step advancements, 3,171 moved from Teacher I to Teacher IV, 3,374 from Teacher II to Teacher V, and 11,462 from Teacher III to Teacher VI. There are also 16,883 Teacher I who will be promoted to Teacher III. To sustain the reform, the National Educators Academy of the Philippines will expand its training and leadership prepa rat ion prog ra ms. Teac her I nearing retirement will also be prioritized for reclassification or promotion. DepEd, with the dedicated efforts of personnel from the Schools Division Offices to the Regional Offices, also recognizes the invaluable contributions of our unsung

MMDA, SM Supermalls team up to display live traffic feeds in malls

PAMPANGA Governor Lilia Pineda, former Board Member Mylyn Pineda-Cayabyab pose with pediatric cancer patients and liver transplant recipients during a Christmas celebration at Pradera Theme Park in Lubao, Pampanga on December 16.

52 young patients celebrate Christmas at Pradera Theme Park in Lubao By Ashley J. Manabat

OR 52 pediatric cancer patients and liver transplant recipients, the holiday season came early this year with laughter, rides, and unforgettable memories during a special Christmas celebration at Pradera Theme Park in Lubao, Pampanga on Tuesday, December 16. Governor Lilia Pineda, Vice Governor Dennis Pineda, and former board member Mylyn Cayabyab treated the youngsters, ages 2 to 20, who are regular patients under the care of the Pineda family, to a much needed break from their medical treatments. “This is their time to just be kids,” said the vice governor. “We wanted to bring joy to these young fighters and help ease the burden of their medical journeys, even if just for a day.” The activity featured a range of attractions including arcade games, swings and rides, a parade of popular cartoon characters, a musical fountain show, and fireworks display. For many of the children, it was their first visit to a theme park. It was an experience that left both the patients and their families beam with happiness. “Sobrang saya niya ma’am, first time niya sobrang tuwa po niya. Maraming salamat po sa pamilyang Pineda kasi hinding-hindi nila kami pinapabayaan,”shared Richard Acyatan,

PlanSmart. . . Continued from A5

planning for LGUs, including disaster risk reduction and management. It also improves the Department’s capacity to effectively fulfill its responsibilities as part of the Provincial and Regional Land Use Committees in preparing and updating comprehensive land use plans, zoning ordinances, and provincial development and physical framework plans. Furthermore, the collaboration supports the DENR’s implementation of its plans and programs by fostering a coordinated approach to environmental management and ensuring environmental considerations are fully integrated into land

father of one of the beneficiaries. The Pineda family provided meals, cash and material assistance. Each child received at least P32,000 in total support which includes P15,000 in cash assistance, P2,000 allowance for food and souvenirs, milk and food items requested by the children, and an additional P15,000 quarterly subsidy from the Provincial Capitol to help support ongoing medical needs. Vice Governor Dennis Pineda said that the initiative was meant to help ease the financial burden of chemotherapy and other treatments while also giving the children an opportunity to momentarily forget the challenges of illness. “Ang mga bata po ito ay mga alaga natin. Tatlong buwan na ang nakalipas nang sabihin namin na magkakaroon kami ng Christmas party, at tinupad po namin ang pangako. Nagbigay po kami ng tulong para sa chemo nila at maagang pamasko. Ang mahalaga po ay nag-enjoy ang mga bata,” he said. Governor Lilia Pineda encouraged parents to remain hopeful and assured them of the continued support of both the provincial government and the Pineda family. The annual Christmas treat not only brings smiles but also restores a sense of normalcy and hope to young patients facing their toughest battles. This, she added, proves that a single day of joy can mean the world to the children and their families.

use and investment decisions. Lotilla emphasized that the initiative represents more harmonized support for LGUs. “This is an example of where, instead of making local government units approach each different agency separately, it is the national government agencies who are in a better position to synergize and bring their services together as a package to the local government units,” he said. The Secretary reaffirmed the DENR’s commitment to work closely with DHSUD and DOST to promote data sharing, improve standards and methodologies, and ensure LGUs are equipped to develop risk-informed, ecologically balanced land use and development plans.

O provide the public with wider access to real-time traffic information, reinforcing the agency’s commitment to smarter, data-driven traffic management and transparent public information sharing, the Metropolitan Manila Development Authority (MMDA) has entered into a partnership with SM Supermalls, the agency’s Chairman Romando Artes said. Artes said that the agency provided viewing access to selected traffic CCTV feeds, which will be displayed in participating SM Supermalls. These live traffic views will allow motorists and mall clients to monitor real-time traffic conditions on surrounding roads and major corridors. At SM Megamall, live traffic feed of the southbound portions of EDSA–Shaw Boulevard and EDSA–Ayala, as well as the northbound portions of EDSA–

Guadix and EDSA–Santolan are being shown. “This is just the beginning at SM Megamall. Soon, SM will replicate this initiative at Mall of Asia and SM North EDSA. We will also be posting a traffic advisory that will include traffic information not only along EDSA but across the entire Metro Manila,” Artes said during the launch held at SM Megamall. Through this collaboration, the MMDA is extending the reach of its traffic information services by leveraging SM Supermalls’ high-traffic, trusted public spaces. By providing commuters with timely and accurate traffic information, the project empowers the public to make informed travel decisions that can help improve traffic f low and reduce congestion in key areas. Echoing this sentiment, Christian Mathay, Regional Opera-

tions Head and Senior Assistant Vice President of SM Supermalls said, “This project shows what is possible when the public and private sectors work together: simple, smart solutions that deliver real value to people, right where they are.” “Today’s launch is just the beginning. We see this as step toward more data-driven, community-focused initiatives that help Filipinos move forward - safe, smoothly, and with confidence. To our partners from MMDA, thank you for your trust and collaboration,” he added. Furthermore, this partnership also supports the MMDA’s vision of a more connected, responsive, and commuter-focused metropolitan traffic system, where technology and collaboration play a central role in improving the overall transport experience in Metro Manila. Claudeth Mocon-Ciriaco

Addressing ₧1 billion in denied claims, Marcos orders PhilHealth to extend filing to 120 days

O give more time for hospitals to comply with processing requirements of Philippine Health Insurance Corporation (PhilHealth), President Ferdinand Marcos has ordered the state health insurer to extend the period for filing claims to 120 days, according to Malacañang. The chief executive issued the directive after the Commission on Audit (COA) flagged the more than P1 billion denied and return-tohospital claims of PhilHealth in its 2024 audit report of the Department of Health (DOH). COA noted PhilHealth, which is an attached agency of DOH, was unable to process the said claims due to the “persistent non-compliance” of hospitals to the state insurers guidelines. Left unaddressed, state audi-

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communities still relying on water trucks. Yet water is being traded in corporate transactions. That is dangerous,” he added. Santos warned that the issue comes at a critical time, as the country faces climate change, aging water systems, rapid population growth, and communities still

tors said the unpaid claims may negatively affect the “financial stability and operational efficiency” of the affected hospitals. “And because of this, the President also ordered the extension of the period for other hospitals to file claims. This has been extended up to 120 days under what is called Claim’s Flexibility and because of this, the DOH, PhilHealth will be able to meet their obligations,” Palace Press Officer Claire Castro said in Filipino in a press briefing last Wednesday. Under Republic Act No. 10606 or the National Health Insurance Act, healthcare providers may submit reimbursements with PhilHealth for services rendered 60 calendar days from the date of discharge of the concerned patient. The filing period may be ex-

tended by PhilHealth for “reasonable causes.” Castro said they hope the extension will finally allow the affected hospitals to follow the processing guidelines of PhilHealth. “All we want is for hospitals to provide the needed documents at the right time and place,” she said. Aside from unsettled PhilHealth claims, COA also called the attention of DOH on P134.28 expired drugs and other inventories. State auditors has recommended for DOH to review its existing rules on inventory management and procurement policies to address the matter. Castro said DOH is now fixing its records and will be submitting the necessary documents to COA with regards to the said COA findings. Samuel P. Medenilla

dependent on water deliveries. The lawmaker urged the relevant House committees to conduct a review in aid of legislation on privatization, consolidation, and joint venture arrangements in the water sector; called on regulatory agencies to enforce rules strictly, transparently, and fearlessly for the sake of the public; and challenged PrimeWater’s new owners to prove that service matters more than profit.

“Water is life. And life should not depend solely on corporate deals. If this sale results in better service, more affordable rates, and wider access, then we welcome it. But if it leads to higher costs, weaker service, and reduced accountability, then Congress must act,” Santos said. “ We a r e n o t h e r e t o d e f e n d conglomerates. We are here to defend every Filipino family—one faucet, one community, one right at a time,” he added.

heroes—the Human Resource Management Officers (HRMOs), Teachers Credential Evaluators (TCEs), and Human Resource Merit Promotion and Selection Board members—for their pivotal role in supporting the implementation of the ECP System at every step. Together, DepEd reaffirms its commitment to strengthening the teaching workforce by fostering professional growth and promoting merit- and competency-based career advancement. “I thank President Marcos Jr. for leading reforms that restored dignity and hope to the teaching profession. My sincere appreciation to Secretary Sonny Angara for transforming that vision into a real opportunity where the fruit of our hard work is finally recognized,” Teacher Eusebio closed.

CCC. . . Continued from A5

The Forum, with the theme “From K nowledge to Act ion: Championing the Role of the State Universities and Colleges for Accelerated Climate Action,” highlighted the critical role of state universities and colleges as “local knowledge hubs” that will link science, policy, and on-the-ground action. Through their research, training, and extension services, they will serve as partners of local governments in shaping climate solutions based on indigenous knowledge and community needs. Coinciding with the signing, a formal coordination platform was also launched to enable more systematic linkages among LGUs, leagues of local officials, SUCs, and Regional Development Councils (RDCs) for faster local NAP implementation. “This signing is a clear and firm signal of our collective dedication to lay down the necessary foundations so that every community in the Philippines becomes prepared and resilient to a changing climate,” CCC Vice Chair and Executive Director Robert E.A. Borje said. “By linking the knowledge of our universities with the actions of our local governments, we will undoubtedly accelerate the achievement of a climate-resilient future for all Filipinos.” The Knowledge Exchange Forum is part of the celebration of the 18th Global Warming and Climate Change Consciousness Week in accordance with Presidential Proclamation No. 1667, s. 2008. Jonathan L. Mayuga

PRC. . . Continued from A5

rest, eat before donating, and bring a valid ID. By continuing to donate even dur ing the lean months, the public helps ensure that hospitals have steady access to safe and sufficient blood, especially when emergencies arise and ever y second counts. For updates on blood donation sites and scheduled drives, the public may follow the Philippine Red Cross on its official social media channels or reach out to the nearest PRC chapter. In case of an emergency situation, call the PRC Hotline #143. For donations, visit our website at https://redcross.org.ph/ ways-to-donate/ Claudeth Mocon-Ciriaco

A10 Thursday, December 18, 2025 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Hollow holidays: Corruption and economic turmoil fuel PHL’s job crisis

HE promise of the holiday season, typically marked by economic growth and a surge in temporary employment, feels unfulfilled this year. October’s stark jobs report, revealing unemployment climbing to 5 percent—one of the highest rates this year—is not merely a seasonal blip, but a distress signal from a labor market buckling under the weight of a slowing economy and self-inflicted wounds. The data exposes a dangerous mismatch: while over a million Filipinos entered or returned to the workforce seeking opportunity, only 463,000 new jobs materialized, leaving a staggering 576,000 new entrants stranded without work. (Read the BusinessMirror story: “Amid slowing growth, jobless ranks expand,” December 11, 2025).

The root causes, outlined by respected economists and labor leaders, paint a picture of converging crises. Former socioeconomic planning secretary Dante B. Canlas rightly correlates the rising joblessness with the alarming slowdown in GDP growth, now at a dismal 4 percent—the weakest since the pandemic’s depths. As the economy loses momentum, its engine for job creation sputters. However, to attribute this solely to cyclical factors is dangerously naive. Economists Ma. Ella Oplas of DLSU and Leonardo Lanzona of Ateneo pinpoint the elephant in the room: political turmoil and the damaging shadow of corruption. The brewing flood control scandal, cited by Lanzona, is not just a moral failing; it’s an economic catastrophe. As Oplas starkly asks, “Who would like to invest with this environment?” Investor confidence, the lifeblood of sustainable job creation, is evaporating. Political instability and corruption scandals paralyze both public infrastructure spending, vital for employment, and private investment. SENTRO’s Josua Mata drives the point home powerfully: “Corruption doesn’t just steal funds—it steals jobs.” This toxic environment deepens the economic slowdown, creating a vicious cycle where fear begets stagnation, which begets unemployment. While October saw gains in agriculture, retail, and food services—typical seasonal drivers—these are demonstrably insufficient and inherently temporary. They are a band-aid on a hemorrhaging wound. Lanzona correctly notes that these seasonal bumps usually compensate for year-end disruptions; their failure to significantly dent unemployment this year underscores how deeper structural weaknesses, amplified by governance failures, are overwhelming the market. Once the holiday lights dim, these jobs vanish, potentially leaving us with an even bleaker landscape. The government’s focus on marginal improvements in underemployment, while noting progress, feels tragically out of step with the scale of the crisis outlined by 2.54 million unemployed Filipinos and a labor underutilization rate soaring to 17 percent. DEPDev Secretary Arsenio Balisacan’s plans for digital upskilling and better labor market matching are necessary long-term goals, but they offer no immediate relief for the hundreds of thousands entering the workforce now, or those laid off due to stalled investments. Immediate action is essential on multiple fronts to restore stability and stimulate the economy. First, the government must decisively tackle political instability and corruption to restore investor confidence. Transparent governance is crucial for attracting investment and enabling climate-resilient infrastructure jobs as advocated by Mata. Second, accelerating rural development and dispersing opportunities beyond Metro Manila is vital for creating sustainable employment and alleviating pressure on the capital, necessitating targeted incentives and regional infrastructure investments as highlighted by Oplas. Lastly, fostering entrepreneurship must go beyond rhetoric; TESDA programs need to align with market demands, and accessible training in AI and digital literacy should be prioritized and funded by the state to empower new entrants. The October jobs report is a wake-up call that cannot be ignored. The failure of seasonal hiring to provide meaningful relief exposes the fragility of our current economic trajectory, undermined by slowing growth and, critically, by a crisis of confidence fueled by political noise and corruption. We cannot afford complacency. Addressing the jobs crisis requires not just economic tweaks, but a fundamental restoration of trust and a war on the corruption that, as Mata so aptly stated, steals not just funds, but the livelihoods and futures of millions of Filipinos.

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Markets burn, chaos spreads John Mangun

OUTSIDE THE BOX

HIS is the time of the year when I would normally offer a brilliant analysis of the past year and give a peek into the coming 12 months. Unfortunately, as a trader and global watcher, I can only say that after “PSE Stock Market 2025,” I know exactly what the Pharaoh felt like when Moses unleashed the 10 plagues on Egypt. Also unfortunately, there is no Promised Land that PSE investors can escape to. Even Bitcoin is looking to close 2025 with an annual loss.

Another Christmas season tradition for me is that every December, Copenhagen-based Saxo Bank releases its “Outrageous Predictions.” These are thought experiments. Take credible trends, crank the volume to 11, and ask what might shatter the foundations of the global economy and cause a spiral into chaos. Their 2025 edition unveiled tales of upheaval that ranged from the plausible to the preposterous, each laced with market impacts that could upend everything from your retirement fund to the corner sarisari store. Saxo Bank’s 2025 painted a seismic shake-up. A second Trump term would let loose massive tariffs spiking the US dollar before a 20 percent collapse against majors. Therefore, nations would hunt dollar alternatives as the crypto market value ballooned past $10 trillion. Nvidia’s Blackwell chips would redefine data centers, thereby Nvidia doubling Apple’s market cap.

China would have to flood its economy with a 50 trillion-yuan stimulus, igniting commodities and emerging markets. A lab-grown, bioprinted human heart would spark a biotech IPO fever. Global electrification dissolves Opec; US taxes tame AI data center power surges; a catastrophic storm bankrupts a major insurer; British Sterling erases its full post-Brexit euro discount. Chaos on steroids. Slightly prescient: the dollar did fall over 10 percent from early highs amid risks; Bitcoin topped $100,000 although the global cryptocurrency market cap today is about $3.2 trillion. Nvidia hit above Apple’s peak cap but both hover in the $3 to $4 trillion range. The pound clawed back to pre-Brexit parity. China did lean on fiscal stimulus, but nowhere near 50 trillion yuan. For 2026, “Outrageous Predictions” deliver a mind-bending lineup of unlikely upheavals and spotlight hidden risks in tech, culture, and

geopolitics. Among the boldest calls: a quantum computing breakthrough shatters cryptocurrency security, sending Bitcoin crashing while gold soars to $10,000. In an equally seismic but cultural moment, a Taylor Swift–Travis Kelce wedding sparks a global move toward offline living, family formation, and higher birth rates, boosting IMF growth forecasts. Artificial Intelligence influence peaks and invades C-suites with a Fortune 500 firm naming an AI Chief Executive Officer, while basementbrewed “dumb AI” agents trigger trillion-dollar disasters, spawning a cleanup industry of “AI janitors” to disinfect the codebase of modern life. Elon Musk’s SpaceX’s IPO valuation surpasses $1 trillion, igniting a new space race economy as orbital manufacturing and lunar projects migrate from science fiction to investment committee. Meanwhile, obesity drugs become mainstream— including for pets—forcing the food and healthcare industries to reinvent themselves for a lighter world. China will launch a gold-backed offshore yuan, sending gold and US Treasury yields higher. France faces a fiscal crack-up and bond crisis with forced austerity, while Singapore revolutionizes transit with electric drone taxis. Welcome to 2026’s Outrageous Possibilities. Whether quantum computers actually break modern encryption in 2026 is beside the point. What matters more is that the possibility draws attention to how exposed countries like the Philippines are to shocks in the global financial system.

For example. The Philippines received approximately US$38 billion in 2024 remittances. These funds rely on the digital and international infrastructure that quantum computing threatens. A “Q-Day” event would not just affect local crypto holders; it would instantly paralyze the global banking networks. In 2026, the boundaries between the plausible and the impossible are thinner than ever, demanding vigilance and adaptability from nations, institutions, and individuals. These are not future risks. These are present vulnerabilities waiting for a trigger. The PSE at 3-year lows reflects markets that sense what policymakers refuse to acknowledge. The Philippine financial architecture was built for a world that no longer exists, maintained by institutions that lack both the technical capacity to understand emerging threats and the political will to confront them. Saxo’s predictions reveal what careful observers already know: how tightly interconnected modern economies have become. The worst does not always happen somewhere else. Sometimes it happens here, and we discover too late that ‘monitoring’ is not the same as preparation, that awareness is not the same as action, and that the foundations we trusted were never as solid as we assumed. Saxo’s scenarios are not entertainment—they are a warning. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Japan’s exports to US rise for first time since Trump’s tariffs By Yoshiaki Nohara & Erica Yokoyama

APAN’S exports to the US rose for the first time since Donald Trump announced baseline tariffs in early April, the latest indication that economies are faring better than expected in a more protectionist global trade environment. The turnaround in shipments to the US helped power the biggest gain in overall exports since February. That supports the Bank of Japan’s view that uncertainties over the impact of the duties have eased, helping pave the way for a widely expected interest rate hike later this week. The gains in US exports also helped outweigh a fall in the value of merchandise heading to China. While it’s still unclear how much the ongoing diplomatic dispute between Beijing and Tokyo might affect trade, data on shipments will be closely watched for any signs that friction is weighing on commerce between Asia’s two largest economies. The report, released by the Finance Ministry on Wednesday,

showed exports overall gained 6.1% in November from a year earlier, led by semiconductor parts and medical goods. That beat economist forecasts as shipments to the US and the EU jumped 8.8 percent and 19.6 percent respectively. “I see the impact from US tariffs as largely settled down,” said Yutaro Suzuki, an economist at Daiwa Securities. “Shipments to America have risen in both value and volume, as companies have resumed exports following an easing of tariff uncertainties.” Overall, Japan’s trade balance was in the black on an unadjusted basis, with a ¥322.3 billion ($2.1 billion) surplus. Imports rose 1.3 percent, slightly below a consensus estimate. Japan’s trade surplus against the US

The turnaround in shipments to the US helped power the biggest gain in overall exports since February. That supports the Bank of Japan’s view that uncertainties over the impact of the duties have eased, helping pave the way for a widely expected interest rate hike later this week.

was ¥739.8 billion, increasing by 11.3 percent from a year ago. The balance has stayed in the black since Trump began his second term in January, meaning the trade imbalance has stayed in place despite the president’s efforts to close the gap with higher tariffs. Exports of Japanese cars and their parts to the US rose in November after Washington reduced its tariffs on them to 15 percent from over 25 percent in mid-September. The US has also set the levy on many other products at the same rate. The value of car shipments to America increased 1.5 percent while

the number of exported units jumped by 7.7 percent. That difference has been an ongoing pattern that suggests Japanese automakers are still sacrificing profits by cutting prices to preserve market share. Still, the unit price of Japanese cars shipped to the US last month rose back above the ¥4 million mark for the first time since April when Trump’s reciprocal tariffs were first announced. All in all the figures suggest that carmakers are calibrating their pricing in response to changes in trade conditions as they look to weather the impact of the duties. The latest data suggest that for all the concern of trade dragging on the economy, US tariffs haven’t buckled Japan’s trade performance. “Exports turned out fairly strong in November,” said Suzuki. “External demand in the October to December quarter could be one factor supporting the Japanese economy.” While trade with Washington imSee “Japan’s,” A11

Opinion BusinessMirror

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Thursday, December 18, 2025 A11

US, Europe retreat from China leans on growth to fuel market electric cars risks ceding rally in new investable era In a turnaround that caught race to China many off-guard, Shanghai-listed C HINA’S markets shed the “uninvestable” tag this year. To bury it for good, investors say an acceleration in the domestic economy is needed so the bullishness doesn’t fizzle out.

By Linda Lew

HE unraveling of the transition to electric cars in the US and Europe has handed Chinese automakers an opportunity to cement their dominance in the electrification race, according to analysts.

The country’s equities, currency and onshore fixed-income markets remain on course to hand investors positive returns for 2025—a scenario unseen in half a decade. Yet the stock market’s rally has lost steam in recent weeks, while bond yields are low due to widespread deflation. Heading into the new year, consumers remain downbeat and the property market is stuck in the doldrums. That leaves the economy being propped up by an ongoing export boom that should be just enough to allow the nation’s leaders to meet their growth target of about 5 percent. Overseas fund houses including BlackRock Inc., Fidelity International and Amundi SA said there could be more inflows into Chinese markets in the coming year. And if that optimism spills over to consumers and helps fund companies’ expansion plans, the hope is that the bullish mood could begin to fuel momentum for the real economy too. “What was once ‘uninvestable,’ then ‘selectively interesting,’ is now ‘indispensable’ for some,” said Aidan Yao, senior investment strategist for Asia at Amundi Investment Institute. “As skeptics turn into believers, sidelined capital should re-enter China, helping to fuel the next phase of market ascent.” In a turnaround that caught many off-guard, Shanghai-listed stocks surged to the highest in a decade, the yuan is set for its first annual gain since 2021 against the dollar and global funds swamped China’s offerings of dollar and euro government bonds. Overseas investors boosted their holdings of Chinese stocks at the fastest pace since 2020 as of the end of September, according to data from the central bank. They’ve also significantly reduced selling of government bonds seen in the past three years, despite subdued yields, official data show. The market enthusiasm took hold early this year with the so-called DeepSeek moment, when the lo-

cal artificial intelligence startup stunned the world and challenged US tech dominance by demonstrating AI models that offer comparable performance to the world’s best chatbots at seemingly a fraction of their development cost. Sentiment was also bolstered by China’s stronger trade footing, underpinned by a near-monopoly on rare earths and a strategic pivot away from reliance on American consumers. As China navigated US President Donald Trump’s tariffs and growing economic protectionism elsewhere around the world, the country amassed a trade surplus of $1.1 trillion in the first 11 months of the year—a record haul. It’s a stark reversal from the pandemic years, when China’s draconian Covid lockdowns paralyzed supply chains and crushed consumer confidence. At the same time, Beijing’s crackdowns on technology and private education sectors added to global investors’ aversion, prompting the “uninvestable” tag. Since 2023, President Xi Jinping’s government has eased off on the crackdown on tech companies. A firmer shift of stance came early this year, when he held a rare meeting with tech bosses including Alibaba Group Holding co-founder Jack Ma, signaling his embrace of private entrepreneurs as the nation geared up for the trade war with the US. Authorities also boosted support for capital markets, beginning with a major stimulus package in late 2024 that showed investors they still cared about growth. Since then, the central bank has provided unprecedented liquidity support to the stock market via new tools including arrangements similar to a stabilization fund. “A combo of stabilization in the economy, controlled property-market risks and stronger earnings could lift foreign investors’ interest even further,” said Joseph Zhang, a portfolio manager for Fidelity who’s been overweight China stocks. “A slow bull market can boost social sentiment and consumer confidence, though

stocks surged to the highest in a decade, the yuan is set for its first annual gain since 2021 against the dollar and global funds swamped China’s offerings of dollar and euro government bonds.

tral positioning in Chinese equities, due to limited stimulus from Beijing in the near term and ongoing credit stress in the property sector. The outlook for broader Asia also looks more compelling, according to Thomas Poullaouec, portfolio manager and head of global investment solutions Asia Pacific, at the company. Foreign investors make up 2 percent of China’s interbank bond market and about 4 percent of local equities. That means the key to healthy growth is more dependent on endogenous drivers such as the entry of long-term domestic capital from insurance companies and pension funds, said Fidelity’s Zhang. For Adrian Zuercher, co-head of Global Asset Allocation at UBS Global Wealth Management, a rallying stock market and active initial public offering can shore up confidence among private entrepreneurs, which is crucial for reviving investment. The better market momentum could eventually lead to a recovery in foreign direct investment, which has been weak for years, he added. Strong demand for China’s offshore sovereign bonds, which were priced almost on par with US Treasuries despite the country’s lower credit ratings, could help lower funding costs for companies selling debt overseas. Meanwhile, sustained gains in the yuan could also prompt more exporters to bring their earnings back onshore and boost spending to aid growth at home. For 2026, China’s leaders have signaled they’ll maintain economic support but refrain from ramping up stimulus. The leadership will “flexibly and efficiently” use interest rate and reserve requirement cuts, and maintain a “necessary” level of budget deficit and government spending, according to a readout following the conclusion of the Central Economic Work Conference. Egon Vavrek, head of the emerging markets and Asia equities at BlackRock, expects there could be meaningful inflows into Chinese stocks next year too. It’d be a “really, really nice scenario” if improving economic fundamentals can help carry the market, he said. With assistance from Winnie

In two blows to the outlook for EVs, the European Commission on Tuesday effectively abandoned its ban on combustion engine vehicles by 2035. A day earlier, Ford Motor Co. announced it would take $19.5 billion in charges tied to a retreat from its electric strategy. That creates a gap that Chinese carmakers, who have strengthened their position as the leading producers of EVs over the past decade, can fill, with companies like BYD Co. and Xiaomi Corp. making rapid advances with in-cabin technology, advanced driver assistance systems and ultra-fast charging. In contrast, Ford is scrapping plans for electric FSeries trucks and will shift production toward gas and hybrid vehicles. “It’s really sinking in that the US or EU can’t catch up,” said Daniel Kollar, head of Automotive and Mobility Practice at consultancy Intralink Group. Legacy carmakers like Ford are realizing they need to provide EVs that meet local needs, Kollar said. With a range of just 240 miles, the electric F-150 couldn’t haul heavy things as far as the gasoline version of the workhorse. They need to find a strategy where they can still leverage their combustion know-how, such as with plug-in hybrids or extendedrange EVs, and fend off competition from Chinese carmakers who are miles ahead when it comes to purebattery EVs, he added. While the gloss has come off the EV market, BNEF still forecasts global sales of electric cars will increase 16% in 2026 to 25.4 million units. Europe is a key market for Chinese EV brands in search of growth and higher margins to offset a slowdown and long-running price war at home. While the backing away from the combustion engine ban and a scaling back of incentives supporting EVs in the region could dent demand, Chinese cars

still have room to compete, according to Yale Zhang, managing director of consultancy Automotive Foresight. “It won’t have a direct impact,” Zhang said. Even with Europe’s tariffs, Chinese carmakers “have enough edge to compete,” he added. One of the main sticking points for drivers looking to make the switch to an electric car is price, an area where Chinese manufacturers have an advantage. BYD earlier this year launched the Dolphin Surf in Europe, a fully electric hatchback that sells for less than €23,000 ($27,000). The European Commission’s retreat from banning tailpipe emissions by 2035 shows a lack of will to do the “correct but difficult thing,” Zhang said. While it seems to be a positive move for European manufacturers, it will “inevitably lead to laziness and complacency.” Volkswagen AG will end output of electric ID.3 hatchbacks this month in Dresden, the first time in 88 years the carmaker will have ceased production at a German assembly plant. To be sure, Chinese EV makers are also facing their own challenges such as slowing demand at home, intensifying competition and regulatory scrutiny. BYD’s total sales have fallen for three consecutive months, and the company is still producing one plugin hybrid with a gas engine under the hood for every battery-only EV. Chinese authorities are also reining in unreasonable price cuts and asking carmakers to pay their suppliers faster, which could impact sales and cash flow. And while Chinese EVs have effectively been locked out of the US by punitive tariffs, they are making steady inroads in markets from South America to the Middle East and Southeast Asia. A lack of competitive models from European and US automakers risks ceding those markets to China as well. Bloomberg

Japan’s. . .

Canada’s fentanyl czar seeks Chinese help to stop precursors

continued from A10

proved, the data showed exports to China dropped 2.4 percent, weighed down by falls in chip-making machinery and non-ferrous metals. The outlook for trade with Beijing faces uncertainty amid the diplomatic dispute over Japanese Prime Minister Sanae Takaichi’s comments on a hypothetical Taiwan contingency. The two sides have been embroiled in a dispute since early November that’s included Chinese warnings against traveling to Japan among other steps. While exports to the US were larger, China is still Japan’s largest trading partner. The report showed the trade balance with China is already on track to hit its highest ever annual deficit, underscoring Tokyo’s reliance on commerce with Beijing. Still, short of the kind of boycott of Japanese goods seen in a previous dispute over a decade ago, economists don’t see a major blow to trade for the time being. Weakness in China’s economy may be more of a factor weighing on trade. Figures released earlier in the week showed China’s investment slumping further in November and retail sales expanding at their weakest pace since the crash caused by Covid. “I don’t expect the negative impact of worsening Japan-China relations to appear in trade in a significant way going forward,” said Suzuki. “Rather, exports to China are likely to move more in line with China’s economic fundamentals.” With assistance from Takashi Umekawa and

By Thomas Seal

anada wants to work more closely with China to stop the chemicals used to create the deadly synthetic opioid fentanyl from reaching North America, said Prime Minister Mark Carney’s point person for fighting the opioid crisis.

“We’re looking to collaborate with China, because it’s not an indictment against the Chinese government, per se,” Kevin Brosseau, the Canadian government’s fentanyl czar, said in an interview. “It’s companies, chemical companies in China, that are engaged in this kind of conduct—and the Chinese government has taken a lot of action in terms of regulating and prohibiting various precursors.” US President Donald Trump has used fentanyl trafficking to justify tariffs against Canada and Mexico, though that move is currently being challenged at the Supreme Court. Figures from US Customs and Border Protection suggest that only small amounts of the deadly drug flow into the US from Canada, but Brosseau was named by the government in February to lead a plan for stamping it out. Carney is preparing to visit Chinese President Xi Jinping next year, part of his broader effort to mend ties with the world’s second-biggest economy. Both countries have imposed high tariffs on certain products from the other in a protracted trade fight. “China has consistently and earnestly fulfilled its international obligations regarding drug control, carrying out extensive efforts to crack down on fentanyl-related crimes and

strictly regulate precursor chemicals for fentanyl production,” the Chinese Foreign Ministry said in response to a request for comment on Tuesday. “China will continue to comprehensively promote global governance of drug issues and is willing to engage in practical cooperation with all parties based on equality and mutual respect,” it added. Brosseau said Canadian officials revived conversations about working with China to curb fentanyl around the time of his appointment. The government also launched a C$1.3 billion ($944 million) border plan that included new helicopters, drones, and surveillance towers. That didn’t deter Trump from levying 25 percent emergency tariffs on Canada and Mexico with the accusation that “massive” amounts of fentanyl were coming over both US land borders. The White House subsequently upped the base tariff on Canada to 35%, though most goods are exempt if they comply with the US-Mexico-Canada Agreement. Fentanyl seizures at or near the US border with Canada averaged 3.5 pounds per month over the threeyear period ended Oct. 31. Seizures of the same drug at or near the border with Mexico averaged a little more than 1,600 pounds a month. That said, seizures of the drug in

US President Donald Trump has used fentanyl trafficking to justify tariffs against Canada and Mexico, though that move is currently being challenged at the Supreme Court. Figures from US Customs and Border Protection suggest that only small amounts of the deadly drug flow into the US from Canada, but Brosseau was named by the government in February to lead a plan for stamping it out.

CBP’s northern border region spiked in April and May with a couple of unusually large interceptions. A socalled sprint by law enforcement agencies this year led to 386 kilograms (851 pounds) of fentanyl and 270 kilograms of precursors being seized within Canada—more than 10 times the amount that’s been caught by American agents at or near the USCanada border so far this year. US intelligence agencies have described China as “the primary source country for illicit fentanyl precursor chemicals” and pill-pressing equipment, followed by India. Brosseau said fentanyl precursors come from Asian countries but the drug itself is produced “largely” within North America. Fentanyl for the US is made domestically and in Mexico, and fentanyl for Canada is produced in Canada, he said. “There’s very little north-south movement of produced fentanyl across the borders,” he said. Supporting that theory is the fact that opioid overdose rates for Cana-

the wealth effects may be limited.” While households have gained roughly 4.5 trillion yuan ($639 billion) over the past couple of years from the equity-market rally, that’s been more than offset by the 20 trillion yuan decline in the value of residential housing stock, said Christopher Beddor, deputy China research director at Gavekal Dragonomics. And the property market isn’t out of the woods just yet, with the slump in home prices worsening in recent months. The crisis has been epitomized by China Vanke Co.’s financial stress, with the embattled developer rattling markets this month with an unexpected request to delay a local bond payment. Growth in the country’s retail sales was the weakest since the Covid breakout while investment slumped further in November, according to data released by the National Bureau of Statistics on Monday. The economy is also mired in deflation, with prices across both consumer and producer sectors set to decline for the third straight year in what would be the longest streak since China transitioned toward a market economy in the late 1970s. The stock market rally has faltered in recent weeks amid the gloomy data releases and lack of bigbang stimulus moves. On Tuesday, the Hang Seng China Enterprises Index and MSCI China Index both briefly tumbled into technical correction territories. “China is investable again in some sense, but many fund managers are still wary of investing large sums into such a speculative market,” said Beddor. “They would prefer if Chinese equities were rallying because the economy was clearly turning a corner, but that’s not the case.” T. Rowe Price said it now has a neu-

da and the US have fallen by similar percentages recently, he said. Asked if he was aware of a target or threshold that would end the fentanyl emergency from the White House’s perspective, Brosseau said: “I’m not.” Even if “there’s 0.01 of a pound or percent going across, my uberfocus—while I suppose to a degree aspirational—has been to lower that to zero, and to eliminate fentanyl the best as I can from a supply perspective, but also reduce demand in this country,” he said. US officials have expressed “strong acknowledgment of the efforts being made and encouragement to continue on this path” tackling fentanyl, if not necessarily “satisfaction,” Brosseau said. US officials want cooperation against joint targets, Brosseau said. He cited the recent example of the pursuit of Canadian former Olympic snowboarder Ryan Wedding, now accused by both countries of running one of the world’s biggest cocainetrafficking operations. US Attorney General Pam Bondi, Federal Bureau of Investigation Director Kash Patel and Royal Mounted Canadian Police Commissioner Michael Duheme appeared together at a November press conference increasing the reward for his capture. Pressure for Canada to do more to fight drug trafficking isn’t only coming from the US. Brosseau met Group of Seven interior ministers in Ottawa recently, and European officials raised the concern that Canada “is either a transshipment point, or Canadian cannabis for instance, and/

Hsu/Bloomberg

or meth is showing up in countries afar,” he said. That echoes comments from Vancouver Fraser Port Authority CEO Peter Xotta, who said officials are discussing better inspections of outbound containers. There are “methamphetamines and other things that have been caught, going particularly to Australia,” he said in an interview with Bloomberg News in November. Carney has proposed two bills to expand border and security powers. The legislation would increase law enforcement access to data and to mail being transported by state-owned carrier Canada Post Corp. It would increase information sharing inside and between governments, ban precursor chemicals more quickly, as traffickers constantly tweak their recipes, boost money-laundering supervision and increase penalties, and restrict large cash payments for business. Canada has also announced a new financial crime agency will be established in 2026. It’s intended to pull together the expertise to investigate money laundering, online fraud and other crimes. On Monday, Trump signed an executive order to classify fentanyl as a “weapon of mass destruction,” after he used drug deaths and trafficking to justify attacks against boats in international waters that the Pentagon says were being used to smuggle drugs. “We’ve got it down to a much lower number,” he said of the amount of fentanyl. “Not satisfactory, but it will be satisfactory soon.” With assistance

from Colum Murphy/Bloomberg

A12 Thursday, December 18, 2025

2nd Front Page BusinessMirror

TRANSMISSION RATE DECLINED IN NOV TO P1.35/KWH–NGCP By Lenie Lectura

@llectura

HE overall transmission rate for the November billing period went down to P1.3547 per kilowatt hour (kWh) from P1.5105/kWh in October, the National Grid Corporation of the Philippines (NGCP) said Thursday. Transmission rates comprise ancillary service (AS) and transmission wheeling rates. AS rates decreased by P0.1326 per kWh to P0.6217 per kWh. Likewise, transmission wheeling rates went down to P0.5894 per kWh from P0.5953 per kWh. Transmission wheeling rates refer to what the NGCP charges for its core service of delivering electricity, while AS rates cover the pass-through costs of services sourced from the Reserve Market (RM) and from providers with bilateral contracts with NGCP to stabilize the grid during power supply-demand imbalances. NGCP emphasized that it does not earn from AS and does not benefit from any change in AS prices, as these are remitted directly to generation companies with bilateral contracts with NGCP, and to the Independent Electricity Market Operator of the Philippines (IEMOP) for AS sourced from the RM.

The grid operator also reiterated its call for the unbundling of transmission charges to help consumers better understand the different components reflected in their electricity bills. NGCP emphasized that a significant portion of transmission charges in recent years has been driven by AS costs, which do not accrue to the company. These are fully collected and remitted to AS providers, in line with regulatory requirements. Another component reflected in transmission charges is the Feed-in Tariff Allowance (FITALL), which NGCP clarified is not charged to distribution utilities and electric cooperatives— such as the Manila Electric Company and Visayan Electric Company—but only to consumers directly connected to the grid. “Over the past year, AS rates formed the bulk of transmission charges following the shift to all-firm AS contracts and the commercial operations of the Ancillary Services Reserve Market. Together with FIT-ALL, these are pass-through costs which NGCP does not earn from. The company is obligated to collect and remit these charges in full to AS providers and to TransCo (National Transmission Corp). See “Transmission,” A2

www.businessmirror.com.ph

Foreign biz: Aussie shooters’ case won’t impact Mindanao

By Manuel T. Cayon

AVAO CITY—The Mindanao offices of foreign business chambers on Wednesday lamented what they deem a national habit of making Mindanao the whipping boy during political conflicts and national difficulty.

Their complaint followed reports quoting Malacanang as pointing to Mindanao, particularly Davao City, as the point of origin of the fatherand-son shooters of attendees of the December 14 Jewish festival in Australia which killed 15 people, including a 10-year-old girl and a British-born rabbi. The Palace announcement, however, simply cited findings by the Bureau of Immigration, which confirmed reports in Australian media that the shooters had recently traveled to the Philippines, staying in Mindanao for almost a month. Australian investigators had pointed at the Philippines as the

last place the shooters had been before they entered Australia. Foreign media cited theories that the men, being inspired by the Islamic State, had undergone some sort of training in Mindanao. Filipino authorities also traced their route as having flown back to Sydney from Davao City airport via Ninoy Aquino International Airport. “Mindanao is a convenient excuse but we at the business sector will not tolerate it now,” said Antonio Peralta, chairman of the European Chamber of Commerce of the Philippines-Davao and at the same time, the Honorary Consul of Fin-

land. He said turning the accusing finger on Mindanao for any national mishap, political bickerings, policy blunders and slips in antiterror campaign will always have serious repercussions in pulling down and harming the development trajectory in southern Philippines. “For a long time, whenever there’s a national problem, they always look at Mindanao to find the convenient excuse,” he told the regular Wednesday news conference Habi at Abreeza at the Ayala Abreeza Mall here. He did not, however, debunk the BI’s findings of the travel history of the shooters. This time, though, he expressed confidence that Mindanao’s being dragged into the case will have less serious effect today than decades ago, noting that many foreign dignitaries and their nation’s businesses have already a deeper knowledge and familiarity of “what actually is going on in Mindanao.” “Foreign businesses are taking a new look at Mindanao, they look differently at the national pinpointing at Mindanao, especially for European businesses and Japanese businesses who have been here

for a longer time already and have known Mindanao for its bounty and opportunities and the stride it has made through the decades in the peace process,” he said. In fact, he emphasized, the latest development venture is going to the island provinces, like Basilan, a former flashpoint of conflict in Mimdanao, where major infrastructure development will be inaugurated next year. “What do foreign businesses see in Mindanao? It’s a gross domestic product growth of between 4.5 percent and 5.4 percent, of as high as 5.8 percent in the Bangsamoro Autonomous Region in Muslim Mindanao,” he said. He said the BARMM alone has available lands for use and hoped that development thrust would revolve around agriculture ventures using smart technology. “Across Mindanao, there are foreign investments in transport and logistics, digital technology.” He said Finland will be investing in cloud technology in Davao City while Sweden has been pouring money in investments in many areas in Mindanao. “European businesses will be See “Shooters,” A2

Senate, House bicam leaders confident of meeting budget sked By Jovee Marie N. dela Cruz

SCAN TO COMMUTE Department of Transportation Acting Secretary Giovanni Z. Lopez tests the cashless fare system using GCash during a demonstration of the EDSA Bus Carousel’s new payment option at the Parañaque Integrated Terminal Exchange (PITX) on Wednesday, December 17, 2025. The pilot rollout allows commuters to pay fares by scanning QR codes, eliminating the need for cash and speeding up boarding times. Transport officials said the initiative supports the government’s push for safer, faster, and more efficient public transport, with plans to gradually expand cashless payment options across major transport routes nationwide. NONOY LACZA

Despite sale, PrimeWater must honor deals By Samuel P. Medenilla

@sam_medenilla

RIMEWATER Infrastructure Corp. must still honor its existing concession agreements and may be still held accountable for its previous lapses even under its new ownership, according to Malacañang. On Tuesday, it was reported the Villar group has decided to sell PrimeWater to the Lucio Co Group, who owns the supermar-

ket chain Puregold Price Club Inc. The change in PrimeWater management comes after the water concessionaire faced an extensive investigation from the Local Water Utilities Administration (LWUA) earlier this year due to its alleged unreliable and overpriced services. LWUA launched its probe in May after at least 20 of the water districts served by PrimeWater filed complaints on the services provided by the water conces-

sionaire. Palace Press Officer Claire Castro allayed concerns that the new development may lead to service disruption for PrimeWater customers. “According to [LWUA Administrator] Joyce Salongga, they will come out with a memorandum circular this month to make sure the water services of the concessionaires will not be disrupted,” she said in Filipino in a press briefing last Wednesday.

As for PrimeWater customers who did not receive any service from the water concessionaire, she said they should be not charged. “So let us wait for the memorandum circular which will be issued by LWUA about that,” Castro said. The Presidential Communications Officer (PCO) undersecretary said the government will continue to look into PrimeWater’s See “PrimeWater,” A2

@joveemarie

ENATE and House of Representatives leaders on the Bicameral Conference Committee (Bicam) expressed confidence that deliberations on the proposed national budget will be completed on time, allowing its transmission to Malacañang with enough lead time for President Ferdinand Marcos Jr. to sign it before the end of the year. The bicam is targeting to conclude its discussions by Wednesday. Senate Finance Committee Chairman Sherwin Gatchalian and House Committee on Appropriations Chairperson Mikaela Suansing said coordination between the Senate and the House has intensified to meet the New Year cutoff. Gatchalian said that the biggest concern now is ensuring a quorum for the ratification of the bicam report amid the holiday season. “It can be done. The problem is whether the members are already on vacation or not, because this still needs to be ratified. The House has more members—318—while we only have 24. We need to verify whether we have a quorum for the ratification,” Gatchalian said. Suansing echoed the senator’s optimism, saying bicam conferees have already reviewed at least 20 government agencies. She said only 11 agencies remain pending, adding that discussions have been productive and highly participatory. “All the members of the bicam are very active. We’re very positive that we’ll be able to finish the bicam [by Wednesday],” Suansing said. Both lawmakers stressed the urgency of transmitting the budget early enough to avoid a reenacted budget. Suansing said this has been a shared commitment between her and Gatchalian since the start of the bicam process. “We are doing everything to ensure that the President can sign the budget before the new year. The House and Senate teams will work even during the holidays, including

Christmas, just to make sure the executive has enough time to review the budget,” she said. Gatchalian also explained that some budget reallocations were made after agencies admitted they could not fully utilize their funds. Citing the Pambansang Pabahay para sa Pilipino (4PH) program, he said agencies themselves requested the temporary removal of certain allocations for 2026 due to implementation delays. “They have not been able to use the funds for two years. They themselves requested that these be removed for now and transferred to other departments, such as education and health, or to the NHA,” he said. Suansing said the length and intensity of bicameral deliberations were expected, citing their earlier experience during the Budget Amendments Review Subcommittee (BARSc) hearings in the House. She recalled that lawmakers spent over 20 hours deliberating line by line on amendments, including the reallocation of P25 billion originally earmarked for flood control projects. “That was our pilot, or litmus test. So we already expected that it would take several days because there are so many agencies and line items,” she said. She added that the bicam has proven to be a collegial and open forum, where issues not previously seen by either chamber surfaced during discussions. “That’s the beauty of a collegial body. The discussion has been very productive,” Suansing said.

DPWH a sticking point

MEANWHILE, Gatchalian acknowledged delays in resolving issues involving the Department of Public Works and Highways (DPWH), particularly after the agency admitted errors in its earlier submissions. He said DPWH apologized for providing overly general figures, prompting the bicam to apply a revised formula covering around 10,000 projects. See “Bicam,” A2

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, December 18, 2025 B1

Exec: NGCP set to finish 2 big-ticket projects next year G

GMA Network completing transition to IP distribution

By Lenie Lectura @llectura

HE National Grid Corporation of the Philippines (NGCP) will complete next year two major transmission projects worth P12.34 billion. “There are several backbone projects. We’re hoping that the Tuy-Dasmarinas 500-kv [kilovolt] transmission line project will be completed next year. Also, the 138-kv Nabas-Caticlan Boracay is slated for completion next year, among others,” said NGCP spokesperson Cynthia Alabanza during a press briefing on Wednesday. There are also several substation upgrading projects in Visayas

that are up for completion in 2026. “We have several substation upgrading projects in Visayas that are also for completion next year.” The Energy Regulatory Commission (ERC) gave the green light to NGCP to procced with the construction of the 138-kv Nabas-Caticlan-Boracay transmission line project. The P4.237-billion project is meant to reinforce the grid and upgrade existing facilities to sup-

port the growing power requirements of Boracay. The ERC granted NGCP’s motion to extend the estimated time completion of the transmission project to August 31, 2026, “taking into account both the technical realities on the ground and the legal obligations of NGCP under its franchise and the regulatory framework governing transmission projects.” The P8.103-billion Tuy–Dasmariñas 500 kV transmission line is another big-ticket transmission project of the NGCP. The project involves the construction of a 49-kilometer double circuit overhead transmission line, to be initially energized at 230kV voltage level. Along with the construction of the overhead transmission line, a new substation in the town of Tuy, Batangas will also be constructed. The new transmission line will accommodate the entry of

an additional 5,215.55 megawatts (MW) in proposed generation capacity near Calaca, Batangas. NGCP holds the sole and exclusive concession and franchise for the operation of the country’s power transmission network, which links power generators and distribution utilities to deliver electricity nationwide. Synergy Grid & Development Philippines Inc. (SGP), a consortium led by tycoons Henry Sy, Jr. and Robert Coyiuto Jr., controls 60 percent of NGCP while State Grid Corp. of China (SGCC) owns the remaining 40 percent. Last month, NGCP said the Energy Regulatory Commission (ERC) approved the 500-kiloVolt (kV) Batangas-Mindoro Interconnection and Backbone Project (BMIBP) worth almost P90 billion. The ERC directed NGCP to complete the first phase of the project by September 2027 and the second phase by December 31, 2030. Failure to comply will result in administratively penalties. Also, the ERC ordered NGCP to pay a permit fee worth P674,859,426.91.

Jollibee: Q4 sales will remain strong By VG Cabuag @villygc

A ST FOOD g i a nt Jol l ibee Foods Corp. on Wednesday said its sales in the fourth quarter are “encouraging,” with preliminary figures showing continued momentum. The company said it expects this strong performance to extend beyond 2025 as it continues to execute its growth strategy across key markets. Jollibee said it is “progressing well” with its network expansion, with store openings tracking in line with previously communicated plans. “This reflects sustained confidence in underlying consumer demand, disciplined site selection, and the Jollibee group’s continued shift

toward a more asset-light growth model,” the company said. “The underlying fundamentals of the Jollibee group remain strong. Based on preliminary internal indicators, we are seeing continued sales momentum in the fourth quarter sales, consistent with our previously communicated full-year 2025 systemwide sales and same store sales growth guidance. We remain focused on disciplined execution across markets while advancing our long-term growth priorities,” Richard Shin, Jollibee’s chief financial and risk officer and JFC International CEO, said. The company said its sales performance is supported by resilient international markets and normalized domestic operations, consistent with the Jollibee’s previously communicated full-year 2025 guidance.

For the nine months of the year ending September 30, the company’s income had a slim increase of 2 percent to P8.65 billion from the previous year’s P8.46 billion. Through September, Jollibee opened 754 new stores, of which 583 or 77 percent were franchised, demonstrating the strength of its asset-light expansion model. The total store network grew by 7 percent to 10,304 stores, with the Philippines at 3,445 and international at 6,859. Shin said its coffee and tea segment is emerging as a key growth engine, with Compose Coffee on track to exceed 3,000 stores. “Smashburger is progressing well on its turnaround path, supported by operational improvements and successful campaigns.”

Acciona aims to complete Cebu solar farm in ‘26

PHOTO FROM WWW.ACCIONA-ENERGIA.COM

PANISH energy firm Acciona Energia is set to complete the construction of its 180-megawatt peak (MWp) solar power project in Cebu a year from now. According to Ignacio Domecq, Acciona Energia managing director in Southeast Asia, the target completion of the P7-billion Daanbantayan solar project is December 2026. The project has been included in the 4th round of the green energy auction (GEA-4) of the Department of Energy (DOE) and is a public-private partnership (PPP) with the local government of Cebu sealed in 2024. Power Construction Corporation of China (POWERCHINA) is the engineering, procurement, and construction (EPC) firm tapped by Acciona for the construction of its

180-megawatt peak (MWp) solar power project in Cebu. “As the global leader in hydropower and renewable energy infrastructure, POWERCHINA is the ideal partner for this landmark project. This marks the beginning of a strong strategic alliance between Acciona Energia and POWERCHINA, and we look forward to the many successes ahead,” said Domecq. Under GEA-4, the DOE awarded 123 winning bidders, representing a diverse mix of technologies including ground-mounted solar, roof-mounted solar, floating solar, integrated renewable energy with energy storage systems (IRESS), and onshore wind. T he tot a l awa rded c apac it y reached 10,195.49 MW, with the

successful rate of 96 percent from the installation target and committed to be delivered starting 2026 until 2029. O f wh ic h, g rou nd- mou nted solar projects accounted for over 4,179.09 MW, with major contributions from Luzon, Visayas, and Mindanao grids. Floating solar emerged as a strong contender, securing 2,284 MW, including large-scale projects in Laguna, Pampanga, and Negros. Onshore wind projects added 2,518.29 MW, with significant developments planned in Quezon, Sorsogon, and Visayas provinces. Integrated RE with energy storage systems contributed 1,189.29 MW, enhancing grid reliability and energy security. Lenie Lectura

MA Network Inc. is completing the transition of its international channels to cloud-based internet protocol (IP) distribution, expanding its partnership with video technology firm Synamedia and local partner Telered Technologies and Services Corp. to cover the United States and Canada. This is the third and final phase of the broadcast network’s transition, which started in 2023. Shifting to cloud-based IP distribution enables the company to move away from satellite delivery for GMA Pinoy TV, GMA Life TV, and GMA News TV. “Moving from satellite to IP has allowed us to significantly cut costs and streamline our operations. With Synamedia’s technology and support, and Telered’s technical expertise and end-to-end capabilities, we’ve simplified our workflows, reduced complexity, and improved efficiency across the board,” GMA International FVP Joseph T. Francia said. The partnership initially covered affiliates in the Middle East and North Africa before expanding to the Asia-Pacific region by late 2024. The US and Canada rollout completes GMA’s global transition to cloud-based distribution. “By embracing cloud-based solutions, we are ensuring GMA’s longterm sustainability and operational resilience in an increasingly digital global landscape,” Ari P. Chio, GMA FVP for administration and investor

relations, said. Under the partnership, GMA will use Synamedia’s Quortex Link platform to distribute its channels more reliably and cost-effectively. Vince Matherne, VP of global sales for video network at Synamedia, described GMA as “a textbook example of a local broadcaster leading the way in industry transformation.” Last April, the company declared a total of P2.4 billion in cash dividends for 2025, underscoring its confidence in its financial stability despite a drop in net income last year. In a statement, the broadcast giant said its board of directors approved the declaration of cash dividends equivalent to P0.50 per share. The dividends were paid out on May 20, to shareholders on record as of April 29. The declared amount exceeds GMA’s 2024 net income of P2.07 billion, which had fallen by 35 percent from P3.17 billion in 2023 due to weaker advertising revenues—the network’s primary revenue stream. Advertising sales dropped by 5 percent to P16.24 billion, pulling total revenues down to P17.56 billion. Lorenz S. Marasigan

Companies BusinessMirror

B2 Thursday, December 18, 2025

PSE STOCK QUOTATIONS

December 17, 2025

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG FERRONOUX HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE

38.8 130.9 8.92 120 55 16.6 11.46 68 7.7 50.9 54.5 97 25 66.85 26.4 0.65 1.36 1.16 4.8 0.71 202.4 1.02

38.95 131 9.01 120.5 55.05 18.36 11.5 68.25 7.74 50.95 55 99.5 25.6 67 26.6 0.66 1.4 1.18 5.17 0.74 203 1.04

38.9 131 9 120.5 53 16.98 11.46 67.9 7.85 50.7 55.3 99 25.05 67 26.9 0.66 1.38 1.17 5.18 0.71 200 1.04

38.95 131.8 9.02 121.2 55.15 16.98 11.6 68.25 7.85 51.1 55.3 99 25.65 67.2 26.9 0.72 1.38 1.18 5.18 0.75 203 1.04

38.7 129.4 8.99 119.2 53 16.98 11.4 67 7.7 50.6 55 99 25 66.8 26.4 0.64 1.35 1.17 5.17 0.71 200 1.03

38.95 131 9 120 55 16.98 11.46 68.25 7.7 50.9 55 99 25.6 66.85 26.4 0.66 1.35 1.17 5.17 0.74 202.4 1.04

19,900 5,033,880 91,200 3,877,540 380,250 1,100 236,000 2,052,880 5,100 192,840 990 10 87,900 106,280 175,200 613,000 82,000 33,000 1,200 1,832,000 1,150 144,000

773,915 659,563,819 821,199 465,182,955 20,740,615 18,678 2,708,090 139,589,085 39,495 9,830,064.5 54,498 990 2,211,375 7,115,142 4,638,545 409,380 111,260 ( 38,820 6,214 1,327,350 232,206 148,800

661,155 (59,599,457) (24,300) (234,344,849) 1,048,695.5 299,588 41,848,413 (1,232,279.5) (13,200) 417,499 (4,263,400) (11,360) 103,129.9997) 2,360 153,106 (11,330)

INDUSTRIAL

ACEN CORP 2.88 2.89 2.83 2.93 2.77 2.89 34,782,000 100,302,410 3,866,360 ALTERNERGY HLDG 0.81 0.83 0.83 0.83 0.8 0.83 76,000 61,200 3,240 ABOITIZ POWER 43.7 44 44.35 44.35 43.65 43.7 221,500 9,715,085 (3,244,590) RASLAG 0.8 0.85 0.84 0.84 0.8 0.8 68,000 54,550 21,600 BASIC ENERGY 0.115 0.116 0.114 0.117 0.114 0.116 740,000 84,930 CITICORE RE 4.12 4.24 4.14 4.28 4.1 4.25 331,000 1,381,580 FIRST GEN 17.94 18 17.7 18.18 17.7 18 538,400 9,650,868 ( 106,393.9997) FIRST PHIL HLDG 73 73.5 73 73 72.4 73 10,030 732,013 MERALCO 592.5 597 585 597.5 585 597 301,320 178,624,140 19,284,190 MANILA WATER 40.9 41 40.95 41.45 40.5 41 1,831,700 75,133,985 1,467,930 MAYNILAD 16.42 16.5 16.6 16.6 16.32 16.42 8,982,200 147,607,012 (89,035,042) PETRON 2.37 2.39 2.36 2.39 2.34 2.37 259,000 612,670 PETROENERGY 3.19 3.29 3.29 3.29 3.2 3.29 31,000 99,480 REPOWER ENERGY 6.22 6.34 6.32 6.36 6.32 6.32 2,700 17,144 SEMIRARA MINING 28 28.1 28.1 28.5 27.95 28 678,400 19,056,420 (11,434,820) SYNERGY GRID 16.7 16.74 17.12 17.14 16.62 16.74 1,895,900 32,024,020 (19,222,236) SHELL PILIPINAS 6 6.01 6.02 6.02 5.95 6 250,400 1,500,072 (108,030) SPC POWER 10.8 10.88 10.9 10.9 10.42 10.88 781,400 8,419,630 3,256,736 SP NEW ENERGY 1.12 1.13 1.12 1.12 1.11 1.12 8,891,000 9,910,520 TOP LINE 1.6 1.61 1.61 1.63 1.57 1.61 1,378,000 2,193,740 17,640 AGRINURTURE 0.57 0.58 0.57 0.59 0.57 0.57 6,904,000 4,005,930 AXELUM 2.15 2.19 2.18 2.2 2.15 2.2 84,000 183,050 CENTURY FOOD 39.1 39.35 39 39.8 39 39.1 1,325,800 52,168,655 (7,645,530) DEL MONTE 5.16 5.25 5.29 5.3 5.2 5.24 13,800 72,657 DNL INDUS 3.67 3.68 3.77 3.8 3.65 3.67 5,489,000 20,333,060 176,720 EMPERADOR 15.22 15.26 15.2 15.26 15.16 15.22 198,300 3,016,826 (1,654,528) SMC FOODANDBEV 53.6 54 54.2 54.5 53 54 50,740 2,721,998 (195,642.5) FIGARO GROUP 0.56 0.57 0.56 0.57 0.55 0.56 1,745,000 976,500 53,760 ALLIANCE SELECT 0.37 0.38 0.37 0.37 0.37 0.37 10,000 3,700 FRUITAS HLDG 0.63 0.64 0.64 0.64 0.62 0.64 12,000 7,480 GINEBRA 289 290 292 295 289 290 7,030 2,054,848 (126,030) JOLLIBEE 186.5 187.3 189.7 189.8 185.5 187.3 1,263,480 236,590,702 (30,102,563) KEEPERS HLDG 2.36 2.39 2.34 2.4 2.34 2.39 1,009,000 2,371,080 (47,000) LIBERTY FLOUR 34.2 34.25 34.4 34.4 34.2 34.25 2,800 96,040 (17,125) MAXS GROUP 2.32 2.44 2.3 2.48 2.3 2.45 85,000 203,830 (14,370.0002) MG HLDG 0.06 0.062 0.063 0.063 0.061 0.061 220,000 13,450 12,200 MONDE NISSIN 5.87 5.98 6.01 6.01 5.87 5.87 2,952,700 17,607,859 (12,873,214) SHAKEYS PIZZA 6.6 6.66 6.72 6.72 6.6 6.6 599,600 3,987,576 3,858,000 ROXAS AND CO 2.71 2.84 2.77 2.88 2.66 2.83 171,000 460,100 (70) RFM CORP 4.61 4.65 4.66 4.7 4.59 4.65 703,000 3,253,810 (1,953,560) SWIFT FOODS 0.051 0.056 0.057 0.057 0.056 0.056 400,000 22,700 UNIV ROBINA 64.7 64.75 64.85 65.45 64.65 64.7 1,932,910 125,537,133.5 ( 30,479,914.5) VITARICH 0.54 0.55 0.53 0.56 0.53 0.55 10,000 5,450 VICTORIAS 2.01 2.08 2.01 2.01 2.01 2.01 1,000 2,010 CONCREAT HLDG 1.06 1.09 1.09 1.09 1.09 1.09 12,000 13,080 (4,360) EC VULCAN 0.27 0.285 0.27 0.27 0.26 0.26 60,000 15,950 2,650 EEI CORP 2.66 2.68 2.65 2.67 2.65 2.67 13,000 34,500 MEGAWIDE 2.98 3 3.15 3.23 3 3 3,253,000 10,165,460 188,680 CROWN ASIA 1.66 1.67 1.66 1.67 1.66 1.67 9,000 14,980 EUROMED 0.98 1 1 1 1 1 3,000 3,000 LMG CORP 0.25 0.27 0.245 0.25 0.245 0.25 220,000 54,500 MABUHAY VINYL 4.95 5.09 5.1 5.14 5.1 5.14 2,500 12,818 PRYCE CORP 12.8 13.2 13 13 13 13 13,200 171,600 UNIHOLDINGS 140 145 156 156.1 134.2 145 900 129,895 CONCEPCION 13.52 13.76 13.68 13.78 13.52 13.78 3,800 51,632 GREENERGY 0.189 0.191 0.189 0.192 0.188 0.191 3,600,000 684,080 INTEGRATED MICR 3.4 3.46 3.39 3.48 3.39 3.47 170,000 584,970 217,420 IONICS 1 1.03 1.04 1.04 1 1 777,000 781,420 (218,000) PANASONIC 10.6 10.76 10.5 10.64 10.5 10.64 80,000 847,950 CIRTEK HLDG 0.62 0.63 0.62 0.63 0.62 0.63 409,000 256,690

HOLDING & FRIMS

Kaspersky: Use passkeys to protect online accounts By Lorenz S. Marasigan @lorenzmarasigan

ORE than half of passwords exposed in data breaches this year were not new compromises at all, but recycled credentials that had already surfaced in earlier leaks, according to fresh research from cybersecurity firm Kaspersky. In an analysis of major password leaks spanning 2023 to 2025, Kaspersky found that 54 percent of leaked passwords in 2025 had previously appeared in past breaches, highlighting how widespread password reuse and long-term neglect continue to undermine online security. The company said the average lifespan of a compromised password now stretches between 3.5 and 4 years, giving cybercriminals ample time to exploit accounts across multiple platforms. “From our own experience, we’ve seen how constantly juggling logins and

passwords for work, study and even leisure can erode both time and security,” Kaspersky VP for Consumer Business Marina Titova said. The study showed that weak password habits remain deeply ingrained with Kaspersky’s researchers observing that users frequently rely on predictable patterns when creating passwords, often appending numbers, dates, names, or emotionally familiar words. About 10 percent of the leaked passwords analyzed contained numbers resembling dates between 1990 and 2025, while roughly one in every 200 passwords ended with the number “2024.” The combination “12345” remained the most common password string, a choice that dramatically reduces resistance to brute-force attacks. Words such as “love,” personal names, and country names also appeared repeatedly in compromised credentials. Kaspersky said these patterns un-

Globe, FPIP seal fiber internet deal

ABACORE CAPITAL 0.405 0.41 0.395 0.42 0.395 0.41 18,630,000 7,613,150 (382,350) ASIABEST GROUP 23 23.9 23.95 24.6 23.95 24.6 500 12,040 (9,580) AYALA CORP 464 469 462 469 459.8 469 177,410 82,725,368 20,406,890 ABOITIZ EQUITY 26.3 26.35 26.5 26.55 26.3 26.3 1,132,400 29,801,405 (2,402,395) ALLIANCE GLOBAL 7.25 7.26 7.01 7.3 7.01 7.26 7,703,900 55,682,247 8,131,222 ANSCOR 13.3 13.98 13.2 13.98 13.2 13.98 27,900 389,220 (55,920) ANGLO PHIL HLDG 0.62 0.64 0.66 0.66 0.62 0.65 566,000 352,530 ATN HLDG B 0.495 0.59 0.495 0.495 0.495 0.495 90,000 44,550 COSCO CAPITAL 6.99 7 7 7.03 6.98 6.99 76,200 533,607 (58,054) DMCI HLDG 10.22 10.3 10.32 10.36 10.22 10.22 2,861,900 29,340,610 (16,640,376) FORUM PACIFIC 0.275 0.28 0.275 0.275 0.275 0.275 280,000 77,000 GT CAPITAL 575 580 575 583 566 575 152,300 87,600,900 5,802,265 HOUSE OF INV 4.29 4.39 4.4 4.4 4.4 4.4 12,000 52,800 JG SUMMIT 23.4 23.5 23 23.7 23 23.5 3,252,100 76,502,155 (16,614,525) LOPEZ HLDG 3.71 3.76 3.75 3.75 3.71 3.71 218,000 816,780 (816,780) LT GROUP 14.36 14.5 14.4 14.68 14.26 14.36 1,145,300 16,455,976 (1,970,026) PRIME MEDIA 1.1 1.16 1.12 1.12 1.1 1.1 6,000 6,660 REPUBLIC GLASS 2.6 3.2 2.6 3.18 2.6 3.18 56,000 177,500 SOLID GROUP 1.26 1.29 1.29 1.29 1.29 1.29 6,000 7,740 SM INVESTMENTS 703 705 702 711.5 701.5 705 256,340 180,774,065 (78,211,335) SAN MIGUEL CORP 83.8 84 82 84.5 82 84 253,110 21,106,045.5 (968,199.5) TOP FRONTIER 61 61.5 61 61.5 61 61 1,630 99,770 (33,550) WELLEX INDUS 0.265 0.31 0.3 0.32 0.3 0.31 1,640,000 508,700 (313,000) PROPERTY AYALA LAND 22.5 22.65 22.4 22.65 22.4 22.65 5,094,000 115,073,985 (10,816,075) AYALA LAND LOG 1.32 1.33 1.33 1.33 1.32 1.33 164,000 217,520 ALTUS PROP 8.41 8.59 8.41 8.41 8.41 8.41 400 3,364 ARANETA PROP 0.41 0.425 0.41 0.44 0.4 0.425 720,000 293,750 AREIT RT 42.75 43 42.8 43.3 42.75 42.75 1,619,500 69,587,310 (15,087,565) A BROWN 0.99 1.01 1 1.01 0.98 1 2,908,000 2,895,990 CITYLAND DEVT 0.57 0.59 0.57 0.59 0.56 0.58 378,000 215,730 CROWN EQUITIES 0.073 0.078 0.078 0.078 0.078 0.078 60,000 4,680 CEB LANDMASTERS 2.3 2.36 2.3 2.36 2.3 2.36 9,000 21,180 CENTURY PROP 0.67 0.68 0.69 0.69 0.67 0.67 1,551,000 1,043,930 27,200 CITICORE RT 3.56 3.57 3.59 3.64 3.55 3.57 3,102,000 11,085,890 (654,340) DOUBLEDRAGON 9.14 9.15 9.24 9.24 9.12 9.14 30,300 276,974 9,124 DDMP RT 1.02 1.03 1.03 1.03 1.01 1.03 8,696,000 8,890,380 319,290 DM WENCESLAO 4.95 5 5 5 4.95 5 107,500 532,371 EMPIRE EAST 0.104 0.105 0.106 0.106 0.104 0.106 580,000 60,380 FILINVEST RT 2.99 3.01 2.99 3.04 2.99 2.99 446,000 1,335,380 (897,960) FILINVEST LAND 0.74 0.75 0.75 0.77 0.75 0.75 2,297,000 1,726,760 255,000 GLOBAL ESTATE 0.64 0.65 0.65 0.65 0.65 0.65 15,000 9,750 GOLDEN MV 931 996 996 996 931 996 80 77,080 CITY AND LAND 0.51 0.52 0.52 0.52 0.51 0.52 16,000 8,220 MEGAWORLD 2.02 2.03 2.01 2.05 2.01 2.02 11,238,000 22,810,850 6 ,498,459.9999 MRC ALLIED 0.9 0.91 0.93 0.94 0.9 0.91 59,756,000 55,220,330 (318,440) MREIT RT 13.86 13.88 13.98 13.98 13.88 13.88 519,400 7,232,376 (2,325,926) OMICO CORP 0.105 0.109 0.105 0.105 0.105 0.105 30,000 3,150 3,150 PHIL ESTATES 0.3 0.32 0.285 0.32 0.285 0.32 610,000 180,300 PREMIERE RT 1.01 1.02 1.02 1.03 1.01 1.02 306,000 312,490 PRIMEX CORP 1.04 1.2 1.1 1.1 1.1 1.1 3,000 3,300 RL COMM RT 7.96 8 8.07 8.09 7.94 7.96 3,674,500 29,361,524 11,458,375 ROBINSONS LAND 16.06 16.16 16.12 16.18 15.94 16.06 503,800 8,095,882 4,577,104 PHIL REALTY 0.103 0.107 0.108 0.108 0.107 0.107 20,000 2,150 (1,070) ROCKWELL 1.7 1.71 1.71 1.72 1.67 1.71 589,000 994,540 (105,970) SHANG PROP 3.39 3.41 3.42 3.42 3.39 3.39 597,000 2,029,850 STA LUCIA LAND 2.31 2.45 2.44 2.45 2.44 2.45 6,000 14,650 SM PRIME HLDG 23.1 23.25 23.8 23.8 23.1 23.1 4,469,400 103,766,625 (61,115,495) VISTAMALLS 1.11 1.14 1.14 1.14 1.11 1.12 16,000 17,810 (8,880) SUNTRUST RESORT 0.62 0.63 0.63 0.63 0.63 0.63 1,000 630 VISTA LAND 0.9 0.91 0.89 0.92 0.89 0.92 257,000 230,690 (15,300) VISTAREIT RT 1.35 1.37 1.38 1.39 1.35 1.35 546,000 741,010 17,550 SERVICES ABS CBN 3.3 3.42 3.5 3.5 3.29 3.4 23,000 77,630 GMA NETWORK 5.25 5.28 5.27 5.49 5.25 5.25 288,900 1,532,116 MLA BRDCASTING 5.01 5.5 5.5 5.5 5.5 5.5 100 550 GLOBE TELECOM 1,563 1,568 1,574 1,574 1,561 1,563 22,925 35,848,380 (26,754,390) PLDT 1,272 1,274 1,280 1,280 1,261 1,272 76,225 96,942,400 (36,026,955) APOLLO GLOBAL 0.0059 0.006 0.0063 0.0066 0.006 0.006 996,000,000 6,175,900 CONVERGE 15.36 15.38 15 15.48 15 15.36 5,353,200 81,905,354 (14,651,010) DFNN INC 0.79 0.82 0.76 0.83 0.76 0.83 226,000 183,510 (73,460) DITO CME HLDG 0.67 0.68 0.67 0.69 0.66 0.68 4,514,000 3,062,000 3,730 IMPERIAL 0.66 0.7 0.7 0.7 0.7 0.7 18,000 12,600 ISLAND INFO 0.127 0.131 0.128 0.132 0.127 0.127 1,320,000 170,840 JACKSTONES 1.54 2.02 1.55 1.55 1.55 1.55 2,000 3,100 3,100 NOW CORP 0.68 0.69 0.7 0.7 0.68 0.69 1,092,000 746,910 281,100 TRANSPACIFIC BR 0.136 0.141 0.14 0.141 0.138 0.141 930,000 128,900 2,780 ASIAN TERMINALS 34.05 34.3 35.05 35.15 33.75 34.05 1,009,900 34,636,075 (1,201,850) CHELSEA 0.91 0.95 0.96 0.96 0.91 0.95 163,000 151,300 CEBU AIR 31.95 32.05 32.05 32.7 31.65 31.95 67,700 2,170,715 (115,295) INTL CONTAINER 577 587.5 582 591.5 575.5 577 2,206,130 1288693525 26,145,575 LBC EXPRESS 8.1 8.88 9 9.04 8.88 8.88 19,900 178,250 5.9999 MACROASIA 4.38 4.48 4.48 4.48 4.37 4.48 75,000 329,850 92,420 PAL HLDG 3.71 3.8 3.75 3.75 3.75 3.75 1,000 3,750 HARBOR STAR 0.51 0.52 0.53 0.53 0.52 0.52 101,000 52,530 BOULEVARD HLDG 0.038 0.04 0.04 0.04 0.039 0.039 2,100,000 83,600 GRAND PLAZA 5.8 7.64 5.8 5.8 5.8 5.8 200 1,160 WATERFRONT 0.425 0.44 0.425 0.44 0.425 0.44 260,000 114,100 CENTRO ESCOLAR 15.12 15.18 15.18 15.2 15.16 15.18 36,200 550,062 FAR EASTERN U 800 814.5 800 800 800 800 270 216,000 IPEOPLE 6.18 6.28 6.18 6.18 6.18 6.18 16,100 99,498 98,262 STI HLDG 1.4 1.43 1.42 1.43 1.4 1.4 3,386,000 4,803,810 (417,960) BELLE CORP 1.34 1.36 1.36 1.37 1.34 1.34 19,000 25,600 BLOOMBERRY 2.63 2.64 2.67 2.67 2.64 2.64 7,555,000 20,021,970 (4,693,900) PH RESORTS GRP 0.147 0.153 0.151 0.153 0.15 0.153 1,140,000 172,580 (15,000) DIGIPLUS 15.9 15.98 16.72 16.86 15.8 15.9 12,680,100 206,262,452(78 ,038,290.0004) PHILWEB 5.81 6 5.94 6.03 5.7 5.81 2,791,200 16,159,823 10,329,220 ALLDAY 0.031 0.032 0.031 0.033 0.031 0.032 22,100,000 707,100 (220,600) ALLHOME 0.26 0.265 0.25 0.26 0.25 0.26 340,000 86,450 METRO RETAIL 1.14 1.16 1.14 1.2 1.14 1.16 1,848,000 2,129,840 (4,590) PUREGOLD 39.95 40.05 39.9 40 38.65 40 3,614,800 143,462,765 15,056,180 ROBINSONS RTL 33.1 33.4 33 33.7 33 33.4 541,600 18,086,985 647,460 PHIL SEVEN CORP 35.9 36 36 36.8 36 36 1,437,700 51,757,765 (119,035) SSI GROUP 2.56 2.59 2.62 2.62 2.56 2.56 384,000 983,240 322,540 UPSON INTL CORP 0.7 0.71 0.72 0.72 0.72 0.72 8,000 5,760 WILCON DEPOT 6.99 7 6.96 7.1 6.92 7 1,381,200 9,659,485 (2,073,347) APC GROUP 0.109 0.11 0.11 0.112 0.11 0.11 500,000 55,020 2,200 MEDILINES 0.24 0.255 0.26 0.26 0.26 0.26 30,000 7,800 PRMIERE HORIZON 0.24 0.249 0.245 0.249 0.239 0.249 1,470,000 357,840 SBS PHIL CORP 3.55 3.69 3.55 3.69 3.55 3.69 24,000 86,510 MINING & OIL ATOK 2 2.08 2 2.15 2 2.08 46,000 94,830 APEX MINING 11.92 11.96 11.3 11.96 11.3 11.92 5,581,700 65,199,704 19,793,228 ATLAS MINING 5.55 5.6 5.65 5.65 5.55 5.6 258,500 1,454,171 (590,740) BENGUET A 4.42 4.43 4.44 4.44 4.4 4.4 153,000 677,740 COAL ASIA HLDG 0.029 0.03 0.03 0.031 0.028 0.03 64,900,000 1,911,300 (93,000) CENTURY PEAK 2.3 2.4 2.3 2.3 2.3 2.3 19,000 43,700 34,500 DIZON MINES 4.4 4.76 4.4 4.76 4.4 4.76 3,000 13,560 FERRONICKEL 1.15 1.18 1.18 1.18 1.15 1.15 626,000 730,510 201,850 GEOGRACE 0.084 0.09 0.088 0.09 0.088 0.09 50,000 4,470 LEPANTO A 0.177 0.178 0.178 0.179 0.176 0.178 18,670,000 3,310,430 LEPANTO B 0.177 0.179 0.177 0.179 0.177 0.177 540,000 95,600 MANILA MINING A 0.0069 0.0074 0.007 0.007 0.007 0.007 47,000,000 329,000 MARCVENTURES 0.68 0.69 0.68 0.69 0.68 0.68 338,000 229,900 NICKEL ASIA 3.58 3.6 3.6 3.63 3.52 3.6 12,404,000 44,098,280 2,612,200 OCEANAGOLD 30 30.4 30.5 30.6 29.6 30 633,100 19,059,920 (5,587,140) PX MINING 9.88 9.9 9.92 10 9.83 9.9 1,461,900 14,492,036 (1,604,083) UNITED PARAGON 0.0046 0.0051 0.0045 0.0051 0.0045 0.0051 21,000,000 99,300 9,000 ENEX ENERGY 3.29 3.39 3.22 3.41 3.22 3.41 4,000 13,180 (140) ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 3,000,000 33,000 PHILODRILL 0.0088 0.0089 0.0089 0.0089 0.0089 0.0089 25,000,000 222,500 PXP ENERGY 2.39 2.44 2.4 2.46 2.38 2.39 1,046,000 2,511,590 147,960 PREFFERED ACEN PREF B 1,060 1,065 1,060 1,060 1,060 1,060 555 588,300 AC PREF B3R 1,989 2,002 2,002 2,002 1,989 1,989 1,025 2,039,050 ALCO PREF D 470.6 484 485 485 470 470 14,730 7,060,120 141,020 BRN PREF B 100.2 103.5 101.2 101.2 101.2 101.2 80 8,096 CEB PREF 33.75 33.8 34.4 34.4 33.8 33.8 3,100 104,840 CLI PREF A2 1,050 1,068 1,070 1,070 1,070 1,070 5 5,350 DD PREF 96 96.3 96.25 96.3 96 96.3 41,880 4,024,489.5 19,260 EEI PREF B 95.05 97.45 95 98 95 98 10,040 977,171 FDC PREF B 1,004 1,008 1,004 1,004 1,004 1,004 350 351,400 GTCAP PREF B 972.5 1,000 1,005 1,005 1,000 1,000 20 20,050 (10,050) JFC PREF B 972 995 972 972 972 972 50 48,600 MWIDE PREF 5 100.4 102 100.4 100.4 100.4 100.4 2,000 200,800 MWIDE PREF 7A 100.1 100.4 100.4 100.4 100.4 100.4 10 1,004 MWIDE PREF 7B 103 105 103 103 103 103 30 3,090 PCOR PREF 4B 985.5 1,000 1,000 1,000 1,000 1,000 15 15,000 SMC PREF 2I 75.6 75.8 75.6 75.8 75.3 75.6 5,520 416,864 SMC PREF 2L 79 79.1 77.75 79 77.2 79 196,300 15,321,417.5 62,040 SMC PREF 2N 80.2 81 81 81 81 81 130 10,530 SMC PREF 2O 79.55 80 81 82 80 80 51,320 4,147,125 1,610 SMC PREF 2Q 73.5 76 76.9 76.9 73 73.5 61,130 4,476,507 SMC PREF 2T 76.5 79.5 79.5 79.5 76.5 79.5 150 11,595 TECH PREF B2C 12.96 13 12.96 12.96 12.96 12.96 2,200 28,512 TECH PREF B2D 8.02 8.32 8.02 8.32 8.02 8.32 6,800 56,366 VLL PREF 2A 84.25 92 92.4 92.4 92.3 92.3 20 1,847 VLL PREF 2B 90.1 92 90.1 92 90 92 100 9,066 -

By Lorenz S. Marasigan @lorenzmarasigan

LOBE Telecom Inc. has signed a memorandum of agreement with First Philippine Industrial Park (FPIP), Inc. to provide fiber internet connectivity to the economic zone’s 150 locators and over 80,000 employees. The partnership also allows Globe to utilize FPIP’s shared dark fiber facility, which was established in 2023, to deploy enterprise-grade internet services to businesses operating within the 600-hectare industrial park in Batangas. “We are proud to empower FPIP locators with seamless, secure, and high-speed digital tools that enable innovation, enhance productivity, and position them to compete confidently in the global market,” Globe VP for Strategic Partnerships and Program Michelle Y. Ora said. The dark fiber infrastructure enables Globe to deploy services more quickly and cost-effectively while providing locators with additional options for internet connectivity. “We understand our locators have diverse needs, which is why we continue to enhance the digital infrastructure in FPIP. We want to ensure we can support the changing and increasing demand for robust

digital services,” FPIP AVP for Park and Utilities Jason de las Alas said. FPIP, a Peza-registered special economic zone, was established in 1996 by Lopez-led First Philippine Holdings and Japanese conglomerate Sumitomo Corp. FPIP is home to global manufacturers in aerospace, automotive, electronics, consumer goods, and medical devices sectors. Last month, Globe said it remains on track to meet its full-year revenue guidance of low to mid-single digit growth, buoyed by improving quarterly momentum across all business segments, its president said last week. Carl Cruz, the president and CEO of Globe, told reporters that the company is sticking to its guidance, citing strong performance across operational metrics. For the nine months ending September 30, Globe reported consolidated gross service revenues of P121.7 billion, slightly below the P124 billion posted in the same period last year. Globe’s net income dropped by 14 percent to P17.7 billion, while core net income stood at P15.5 billion compared to P17.6 billion in the same period last year. However, the consecutive quarterly improvements have bolstered management’s confidence in meeting the full-year target.

Luckin Coffee is said to consider bidding for Nestle’s Blue Bottle

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 3.01 3.1 3.1 3.1 GMA HLDG PDR 5 5.17 5.05 5.05

3.1 5

2,000 82,100

6,200 411,715

SMALL & MEDIUM ENTERPRISES

BALAI FRUITAS 0.335 0.365 0.35 0.37 0.325 0.365 450,000 151,500 HAUS TALK 1.05 1.08 1.03 1.09 1.03 1.09 42,000 43,370 MERRYMART 0.4 0.41 0.41 0.41 0.4 0.41 70,000 28,400 XURPAS 0.249 0.255 0.26 0.26 0.248 0.255 1,040,000 258,810 NEXGEN ENERGY 3.03 3.1 3.04 3.1 3.04 3.1 3,000 9,240

EXHANGE TRADE FUNDS FIRST METRO ETF

99.6

99.7

100

99.7

3,030

302,501

(4,008)

www.businessmirror.com.ph

HINA’S Luckin Coffee Inc. is considering making a bid for Nestle SA’s Blue Bottle Coffee to boost its brand profile and expand in the premium coffee segment, according to people familiar with the situation. China’s biggest coffee chain and its backer Centurium Capital have also been evaluating other acquisition targets, including the operator of % Arabica coffee stores in China, which counts private equity firm PAG as an investor, the people said, asking not to be identified discussing private information. Luckin and Centurium had been considering Coca-Cola Co.’s Costa Coffee as well, though they aren’t likely to proceed on that, the people said. Luckin’s American depositary receipts dropped 7.3 percent on Tuesday, the biggest decline since April. They have gained 25 percent this year, giving the company a market value of $9 billion. Deliberations are at an early stage and may not lead to a bid, the people said. Representatives for Nestle, PAG and Coca-Cola declined to comment, while Centurium, Luckin and % Arabica didn’t immediately respond to requests seeking comment. Founded in 2017, Luckin has expanded with thousands of stores offering low-cost coffee and other customized drinks such

as coconut or cheese lattes. The growth has been rapid, enabling it to sweep past Starbucks Corp. in store numbers in China, where the US coffee chain has decided to sell a majority stake in its local business to Boyu Capital. Luckin’s fortunes have improved since it was delisted from the Nasdaq in 2020 due to an accounting scandal. Net revenue was $2.1 billion in the quarter through September, a 50-percent increase from a year earlier, and net income was about $180 million. It opened a net 3,008 new stores in the quarter, including five in Singapore, 21 in Malaysia and three in the US, taking its total worldwide to 29,214. Nestle has been working with Morgan Stanley to review options for Blue Bottle, Reuters reported this month. Blue Bottle was founded in California in 2002, and Nestle invested in the company 15 years later, paying about $425 million for a 68-percent stake, Bloomberg News reported at the time. In addition to the US, Blue Bottle has outlets in China, Hong Kong, Japan, Singapore and South Korea. % Arabica was founded in 2013 and has stores in Asia and the Middle East, as well as some in Europe and the Americas. The bulk of them are in mainland China, where it has more than 80 outlets, the company’s website shows. Bloomberg News

derscore the limitations of passwords as a primary authentication method, particularly when users fail to regularly update them or follow basic security guidelines. Because passwords are largely usercreated, they are vulnerable to human shortcuts that attackers have learned to exploit at scale through phishing campaigns, credential stuffing, and malware-based information stealers, the cybersecurity firm added. Hence, the company is pushing for broader adoption of passkeys, a nextgeneration login technology designed to replace traditional passwords. Passkeys rely on cryptographic key pairs and biometric authentication rather than shared secrets, making them resistant to common attack methods such as phishing and largescale data leaks. Each passkey is created for a specific account and platform, with the private

MUTUAL FUNDS

key stored securely on the user’s device. Kaspersky said it has integrated passkey support into the latest version of its Password Manager, allowing users to generate and store passkeys while maintaining secure synchronization across devices. Under the system, when a user registers for a service that supports passkeys, the device generates a private key and shares only a public key with the service, reducing the risk of credential exposure even if a server is compromised. “Kaspersky Password Manager has long streamlined this process with tools like our secure password generator and auto-fill functionality—ensuring users never sacrifice safety for speed. In addition to that, we are happy to offer to our customers a new Passkey feature— an enhanced level of accounts protection which makes authentication even simpler and, most importantly, more secure,” Titova said.

December 17, 2025

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A 215.19 -3.54% 1.02% -1.46% -1.21% -1.9% ATRAM ALPHA OPPORTUNITY FUND, INC. -A2.1237 17.58% 17.25% 9.66% 6.24% 17% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8678 -5.86% -0.57% -2.26% -2.27% -3.88% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A0.7533 2.38% 3.26% -1.82% N.A 5.58% FIRST METRO CONSUMER FUND, INC. -A 0.5586 -10.82% -4.71% -6.26% N.A -12.39% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.4071 -6.76% -1.75% -2.73% -1.66% -5.09% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A0.6425 -8.44% -2.91% -3.78% N.A -7.35% MBG EQUITY INVESTMENT FUND, INC. -A 88.87 25.31% 5.7% -2.62% N.A 24.96% PAMI EQUITY INDEX FUND, INC. -A 41.3666 -6.7% -1.45% -2.9% -1.03% -5.38% PHILAM STRATEGIC GROWTH FUND, INC. -A451.83 -3.9% 0.49% -1.93% -0.96% -2.26% PHILEQUITY DIVIDEND YIELD FUND, INC. -A1.5579 12.78% 9.51% 5.54% 2.99% 11.73% PHILEQUITY FUND, INC. -A 34.6476 -2.72% 1.29% -0.41% 0.4% -1.12% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.8952 -1.45% 1.74% -0.79% N.A 1.02% PHILEQUITY PSE INDEX FUND, INC. -A 4.4743 -4.73% -0.18% -1.8% -0.1% -3.43% PHILIPPINE STOCK INDEX FUND CORP. -A 735.01 -5.78% -0.63% -2.16% -0.32% -4.55% SOLDIVO STRATEGIC GROWTH FUND, INC. -A0.7027 -3.53% 1.57% -1.03% -1.81% -1.4% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2302 -9.03% -1.38% -2.71% -1.51% -7.58% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A0.8242 -6.75% -1.11% -2.56% -0.6% -5.5% UNITED FUND, INC. -A 3.267 3.01% 1.83% -0.71% 0.47% 3.28% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0332 -5.86% -0.75% N.A N.A -4.5% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0458 -1.76% N.A N.A N.A -0.87% PHILEQUITY ALPHA ONE FUND, INC. -A 0.945 -9.1% -3.13% -3.21% N.A -8.86% PHILIPPINE STOCK INDEX FUND CORP. -A 886.58 -6.47% -0.86% N.A N.A -5.23% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C99.9971 -6.22% -0.37% -1.89% 0.19% -4.99% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0004 17.05% 4.62% -3.44% 1.4% 20.49% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.1919 10.86% 14.07% 5.96% N.A 13.82% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A2.1419 -1.24% 1.11% -1.56% 0.13% 0.47% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.6352 2.47% 3.89% -0.59% -0.46% 4.81% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.4684 -3.11% -0.51% -1.54% -0.75% -1.87% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2315 5.52% 6.34% 2.8% N.A 6.68% NCM MUTUAL FUND OF THE PHILS., INC. -A,12.0019 0% 1.11% 0.16% 1.22% -0.5% PAMI HORIZON FUND, INC. -A 3.7911 1.58% 3.15% -0.19% 0.73% 2.74% PHILAM FUND, INC. -A 16.0286 -1.69% 1.72% -1.3% 0.13% -0.69% SOLIDARITAS FUND, INC. -A 2.1077 -1.13% 1.92% -0.07% 0.6% 0.23% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A3.4581 -2.27% 1.23% -0.92% -0.28% -1.02% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9138 -2.75% 1.29% 0.2% -0.04% -1.45% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9778 0.86% 2.24% -1.08% N.A 1.48% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8443 -3.25% 0.36% -2.69% N.A -1.91% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8101 -4.94% -0.47% -3.18% N.A -3.8% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A$0.03413 3.52% 1.57% -2.66% -0.36% 6.32% PAMI ASIA BALANCED FUND, INC. -B $1.1947 21.12% 9.44% 0.97% 3.27% 23.16% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A$5.2793 8.99% 9.96% 3.51% 5.5% 11.36% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.175 6.39% 5.59% 0.32% N.A 8.2% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 419.2 3.93% 3.57% 2.49% 2.65% 4% ATRAM CORPORATE BOND FUND, INC. -A 1.9565 2.84% 1.34% 0.59% 0.34% 2.63% COCOLIFE FIXED INCOME FUND, INC. -A 3.5795 3.53% 3.52% 2.19% 3.5% 3.22% EKKLESIA MUTUAL FUND, INC. -A 2.4543 3.13% 4.06% 1.35% 1.89% 3.94% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A2.5686 2.6% 2.34% 0.93% 1.54% 3.11% PHILAM BOND FUND, INC. -A 4.6101 2.86% 3.24% -0.09% 1.5% 3.83% PHILAM MANAGED INCOME FUND, INC. -A 1.521 4.74% 4.78% 2.89% 2.76% 4.9% PHILEQUITY PESO BOND FUND, INC. -A 4.3157 3.48% 3.68% 1.64% 2.26% 3.77% SOLDIVO BOND FUND, INC. -A 1.1205 3.87% 3.1% 1.52% 2.04% 4.06% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.5666 3.57% 4.11% 2.21% 2.86% 4.29% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8875 3.11% 3.54% 1.53% 2.22% 3.83% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $528.28 3.54% 3.23% 1.8% 2.38% 3.48% ALFM EURO BOND FUND, INC. -A Є223.5 1.85% 2.06% 0.4% 0.81% 2.05% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0739 2.69% 2.01% -3.35% -0.18% 3.5% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A$0.0265 4.74% 3.65% 0% 0.87% 6% PAMI GLOBAL BOND FUND, INC. -B $1.0595 22.17% 6.82% -0.6% 0.08% 23.2% PHILAM DOLLAR BOND FUND, INC. -A $2.4747 5.36% 4.16% -0.42% 1.63% 6.67% PHILEQUITY DOLLAR INCOME FUND, INC. -A$0.0643761 3.2% 2.44% 0.65% 1.51% 3.47% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A$2.9206 4.6% 1.72% -1.86% 0.31% 6.28% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A1.1651 3.11% N.A N.A N.A 2.98% ALFM MONEY MARKET FUND, INC. -A 148.44 4.32% 3.7% 2.73% 2.66% 4.18% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A1.1962 3.93% 3.71% 2.69% N.A 3.64% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.4794 3.91% 3.43% 2.69% 2.65% 3.76% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 113.75 4.32% 4.28% N.A N.A 4.16% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1752 3.1% 3.2% 2.24% N.A 2.95% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 45.9875 0.19% 1.8% N.A N.A 3.56% SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.1384 16.54% 18.49% 14.03% N.A 21.48% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1066 1.35% N.A N.A N.A 5.29% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8136 0.43% 0.3% -3.65% N.A 2.99% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. * THE FIRST TRANCHE (CORPORATE DEBT FUND 1) OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. MATURED ON MAY 25, 2025. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU."

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Banking&Finance

Christmas: A Heartfelt Celebration of Friendship!

HIS festive season offers us the perfect opportunity to express our gratitude for the friends who brighten our lives. It’s a time to reflect on the joy, laughter and support we share with those special individuals. Let’s embrace the spirit of Christmas by celebrating these cherished bonds and acknowledging the warmth that friendship brings! The Christmas holiday season is a beautiful opportunity to unite our team in meaningful ways that extend beyond the confines of the workplace. Every year at our company-wide Christmas party, our Chairman Emeritus always shares his heartfelt gratitude for the past year—the blessings our bank has enjoyed and, most importantly, the incredible people behind our success: our employees. He often reminds us to cherish the many blessings we’ve received, but what resonates with me most is how he views his employees as family. Christmas truly embodies a spirit of joy, fun and laughter and our annual parties stand as a testament to this festive atmosphere. They foster connections between employees, turning colleagues into friends and friends into family. During my time at my second bank, I never imagined that some of my officemates would become not just friends but also the cherished godfathers and godmothers of my daughter. This kind of friendship thrives on loyalty, deep care and genuine love. Even after four years of working together, we’ve kept our connections alive—our dinner dates continue and even after a quarter

of a century, our bond remains as strong as ever. The same can be said for my experience with our association. Though I joined the board of directors only in 2018, the past seven years have been filled with not just fun, but a wealth of meaningful experiences. Attending our monthly general assembly and board meetings is always refreshing. Beyond discussing the growth of our association, they offer a chance for personal connections—a little break from daily routines, stress and demanding responsibilities. Of course, as the saying goes, “walang forever.” Each bank representative may change and elected officers may come and go, but the bonds we create last a lifetime. I want to take a moment to express my gratitude to the wonderful marketing leaders of their respective banks I’ve had the privilege to work alongside. Thank you for bringing grace, patience and strength to our gatherings. Though this may be your last Christmas party with BMAP, who knows what the future holds? You might be representing your bank again soon. Thank you for the friendship and the memories! For more information, visit bmap.org.ph or https://facebook. com/BankMarketingAssociationPH. Judith C. Songlingco is the Head of Corporate Affairs and Brand Marketing at Philippine Business Bank (PBB) and the Secretary of the Bank Marketing Association of the Philippines. She can be reached via judith.songlingco@yahoo.com. The writer’s views and her written piece do not necessarily reflect those of the BusinessMirror, the PBB and the BMAP.

BusinessMirror

Editor: Dennis D. Estopace • Thursday, December 18, 2025

Pag-IBIG, Megawide partner for govt 4PH housing project By VG Cabuag

@villygc

XECUTIVES of Megawide Construction Corp. and officials of the Home Development Mutual Fund, or Pag-IBIG Fund, signed an investment and partnership agreement last Wednesday to formalize a partnership expected to expedite the government’s expanded Pambansang Pabahay Para sa Pilipino (4PH) program.

The agreement involves Pag-IBIG’s participation as an investor in the 4PH

housing projects via subscription to perpetual preferred shares issued by Megawide Dreamrise Residences Inc., amounting to P10 billion, payable in three tranches. Dreamrise is 100-percent owned by Megawide. In turn, the funds will be used to deliver at least 7,000 housing units, at affordable packages, over the next two to three years.

The company earlier expressed keen interest in joining the government’s 4PH program and aspires to launch 100,000 units as part of its long-term roadmap. The first 50,000 units have already been identified and included in its pipeline over the next five years, which includes project launches and groundbreakings in five locations in

Cavite–one in Imus and two each in Dasmariñas and Bacoor. “The partnership with Pag-IBIG is strategic in the sense that it addresses the imbalance between demand and supply in the housing sector. We believe that we are uniquely positioned and technically proficient to deliver high-quality and cost-efficient housing products that meet the requirements of the 4PH program, with speed and consistency,” Megawide Chairman and CEO Edgar B. Saavedra said. Pag-IBIG Fund, the country’s largest home financing institution, is mandated to provide accessible savings and affordable housing loans to Filipino workers. The agency financed more than 57,000 homes as of September for this year. In July, Pag-IBIG Fund began offering a subsidized 3 percent annual interest rate on eligible socialized housing loans. The rate applies during the first five years of the loan term and may be extended for another five years for qualified borrowers. The initiative supports the Department of Human Settlements and Urban Development’s Expanded

Pambansang Pabahay para sa Pilipino Program, which covers both horizontal and vertical housing developments nationwide. “This partnership allows us to deliver affordable homes faster and make them more accessible to our members,” Pag-IBIG Fund CEO Marilene C. Acosta said. At the same time, it helps us prudently grow and protect our members’ savings through a boardapproved investment that further strengthens our already secure and profitable portfolio. Ultimately, this is about providing meaningful benefits to our members while actively contributing to nation-building. Megawide has been a strong partner in the government’s nation building efforts, having successfully delivered 10,000 public school classrooms under the Public-School Infrastructure Project Phases 1 and 2. The company also developed the Mactan-Cebu International Airport, delivered the new terminal building at Clark International Airport and constructed and operates the country’s premier landport, the Parañaque Integrated Terminal Exchange.

SG-based fintech’s local unit to offer no-fee transfers By Rizal Raoul S. Reyes @brownindio

NObank Inc., a wholly-owned subsidiary of the Singaporebased fintech company UNOAsia Pte. Ltd., announced it is offering no-fee transfers via quick response (QR) code as its CEO said the Philippines continues to see a rapid shift toward digital payments. “Filipinos shouldn’t have to pay more when they choose to give more,” Manish Bhai said last Wednesday. “By making QR transfers free across all banks, we’re enabling a more inclusive, convenient, and cost-friendly way for people to share what they can this Christmas and beyond.” According to Bhai, more than 57 percent of monthly retail transactions in 2024 are now digital. E-commerce payments are projected to grow by nearly

20 percent this year, while InstaPay and PESONet transfers surged to P12.8 trillion in 2023 alone. With social commerce, online remittances, and QR payments now part of everyday life, Bhai said digital transfers have become central to how Filipinos manage their finances. That also means transfer fees—once negligible—can accumulate and undermine careful budgeting. According to Bhai, the digital bank’s new fee-free QR-transfers flip this script; meaning there are no limits, no caps, and no conditions. As long as it’s a QR Ph transfer, UNObank absorbs the cost, so every peso you send goes exactly where it should, he said. QR Ph, the national QR standard established by the Bangko Sentral ng Pilipinas (BSP), was designed to make payments safer and easier across participating banks and e-money issuers.

QR usage has soared, with P2M (personto-merchant) transactions growing over 2,700 percent from 2022 to 2023 as Filipinos increasingly choose scan-to-pay for everyday purchases. Bhai said UNO builds on this momentum by making QR the most costefficient way to transfer money. He said that switching to QR makes transfers simpler and more secure. It removes the usual “wrong send” panic because QR scans automatically fill in account details and reduce human error. It also adds a layer of security, since QR Ph operates on regulated and standardized rails like InstaPay. And with details verified instantly, transactions move faster and feel more seamless from start to finish, he added. As more financial activity shifts online—whether sending money to family, settling bills, supporting small

businesses, or managing daily expenses, Bhai said the volume of digital transfers continues to rise. And during the holidays, when Filipinos naturally spend and share more, transfer fees shouldn’t get in the way. Bhai said the company believes that removing these costs is not just a convenience but more a commitment to letting people move money freely and confidently. “We don’t see ‘free transfers’ as a promo. We see it as a principle,” added Bhai. “Our role is to empower Filipinos to manage, move, and share their money without friction.” By eliminating QR transfer fees entirely, he said UNObank is supporting the BSP’s goal of a more digital, inclusive, and cash-lite economy while advocating for a fairer, more consumer-focused banking experience.

dominant Bitcoin whale—Michael Saylor’s Strategy Inc.—hasn’t been enough to turn things around. “Most are surprised by the lack of follow-through despite so many positive catalysts,” said Pratik Kala, a portfolio manager at hedge fund Apollo Crypto. The bear market means Bitcoin has decoupled from stocks. The S&P 500 closed at a record earlier this month and is up 16 percent for the year. Tech stocks, with which Bitcoin has often tended to move in sync, have done even better.

after authorities cracked down, sending Bitcoin and other tokens spiraling. The 2018 decline of 74 percent still stands as the biggest ever. The 2022 meltdown was perhaps the most significant, in part because the crypto market had grown much larger by then but also because it led to the demise of several major companies—notably Sam Bankman-Fried’s FTX—and triggered a broad crackdown by President Joe Biden’s administration. “This cycle may end up being more of a time correction than a steep price correction,” said Maxime Seiler, chief executive at digital asset trading firm STS Digital. “What we’re likely looking at is a long consolidation, trading between $70,000 and $100,000.”

fundraising. And several enforcement cases against crypto outfits initiated under Biden were withdrawn. But under the surface, vulnerabilities were piling up, most notably extreme leverage. The brittleness of the rally exploded into public view on October 10, when $19 billion of leveraged bets were liquidated, sending crypto markets into a tailspin. Bitcoin “whales”—wallets holding large amounts of the token—started selling, keeping pressure on prices even after most leverage was cleared out. Turnover slumped, with volumes dropping in November from the previous month by the most since early 2024, according to CoinDesk Data. A range of market metrics indicate traders are staying on the sidelines, at least for now. Investors have pulled more than $5.2 billion from US-listed spot Bitcoin ETFs since October 10. Market depth, a measure of the ability to absorb large trades without big price swings, has dropped roughly 30 percent from the year’s high, data from researcher Kaiko show. Bloomberg

PNB inks loan facility deal to boost support for SMEs Bitcoin fatigue sets in as token heads for 4th annual loss

HE Philippine National Bank announced last Wednesday of having signed a loan facility agreement with Discovery Capital Finance Corp. (DCFC) to boost financial support for small and medium enterprises (SMEs). The facility leverages the combined strengths of PNB, and the agile, specialized financing capabilities of DCFC, read a statement. The listed lender didn’t disclose the value of the facility. The loan facility is designed to provide the DCFC with additional funding capacity, which it will use to extend flexible and more accessible financing solutions to its growing base of SME clients. This move aligns with PNB’s sustained commitment to the SME sector, often referred to as the backbone of the Philippine economy, read the statement. Our agreement with PNB is a clear signal of the company’s commitment to financial inclusion for the underserved business community, according to DCFC President Diosdado Chua Salang Jr. “By partnering with institutions like PNB, we can effectively amplify our reach beyond our branches, ensuring that cru-

cial capital flows into regional economies where it is needed most,” Salang added. The funding will be primarily utilized for working capital loans, helping SMEs finance inventory, fulfill large contracts, purchase new equipment, and manage their cash flow more effectively. By providing capital, the partnership empowers small businesses to execute their expansion plans, which in turn leads to increased production, more employment opportunities and greater contribution to the local tax base, the company said. In the Philippines, the SME sector accounts for over 99 percent of all registered businesses but often receives a small share of formal bank lending. This collaboration reflects a growing trend where major banks partner with non-bank financial institutions and finance companies to penetrate niche markets and to improve overall market efficiency. For DCFC, the PNB facility serves as a stamp of confidence, lowering its cost of funds and enabling it to offer more competitive rates to its borrowers. VG Cabuag

HE Bitcoin is headed for the fourth annual decline in its history, and the first one that didn’t coincide with a major scandal or industry meltdown. The latest leg down came Monday, with a sharp selloff that sent the original cryptocurrency falling as much as 3.7 percent during New York hours. Bitcoin is now about 7 percent lower for the year. It was trading at about $87,100 at noon in Singapore on Wednesday. While the latest decline is a much milder correction than in the previous three down years, it’s happened against a vastly different backdrop. Since the last major crypto crash in 2022, institutional adoption has widened, regulation has matured, and the industry has found its arguably most important champion in US President Donald Trump. The rapid lurch lower since Bitcoin hit a record of over $126,000 in early October has confounded bulls and left cryptoassets struggling to find a footing. Volumes are low, investors are bailing on Bitcoin ETFs and derivatives markets are showing a lack of appetite for betting on a rebound. Even massive buying from the

Bitcoin vs Nasdaq

BITCOIN’S first three annual drawdowns since it started trading on exchanges in 2010 were marked by events that, briefly at least, shattered market confidence. In 2014, the hack and subsequent collapse of Bitcoin exchange Mt. Gox exposed significant gaps in crypto’s nascent infrastructure and showed early traders that their funds weren’t necessarily safe on a centralized platform. Bitcoin swooned 58 percent that year. Four years later, a bubble in so-called initial coin offerings burst spectacularly

Bitcoin annual returns

UNTIL October’s peak, it looked like nothing could stop Bitcoin’s ascent. Trump had declared crypto a national priority, the US Congress had passed landmark stablecoin legislation and Bitcoin exchange-traded funds were raking in billions of dollars. The value of acquisitions was skyrocketing, as was

DAR, Landbank launch online payment system for govt transactions in C. Visayas By Jonathan L. Mayuga @jonlmayuga

HE Central Visayas office of the Department of Agrarian Reform (DAR) has partnered with the Land Bank of the Philippines (Landbank) to implement the “Landbank Link.BizPortal,” an online payment system for government transactions. The agreement strengthens DAR’s

digital transformation efforts and ensures more convenient, transparent, and secure financial transactions for its clients. Adopting digital payment systems directly benefits agrarian reform stakeholders by improving service speed and accountability. “This partnership with Landbank enables DAR to deliver services faster and with greater transparency. Digital

payments help us ensure secure, traceable transactions while making our services more accessible to agrarian reform beneficiaries,” Regional Director Sheila B. Enciso said. Cebu Provincial Agrarian Reform Program Officer II Alvin L. Arante emphasized that the platform will ease transactions and reduce the burden on clients and frontline offices. The portal “significantly shortens

transaction time and simplifies fee payments. This system allows our clients to complete transactions more efficiently while helping our offices focus on delivering quality services,” according to Arante. The portal allows clients to pay government fees online anytime, anywhere via various digital channels. By reducing manual processing and cash handling, the system enhances opera-

tional efficiency, lowers administrative costs, and strengthens financial security. According to the DAR, the portal will provide clients convenience, experience faster transactions, improve transparency, enhanced security and better service delivery. The initiative forms part of DAR’s broader digitalization drive in support of the government’s e-governance

agenda. Other ongoing reforms include electronic workflows, centralized data systems, and digital reporting tools that improve service reliability and accessibility for agrarian reform beneficiaries. Through its partnership with Landbank, DAR Central Visayas continues to adopt innovative solutions that modernize operations and raise the quality of public service across the region.

Thursday, December 18, 2025

Editor: Jennifer A. Ng • www.businessmirror.com.ph

Govt aims to boost sugar prices via program By Ada Pelonia @adapelonia

HE Sugar Regulatory Administration (SRA) will undertake another round of voluntary purchase program in its bid to prop up the farmgate prices of the sweetener, according to the Department of Agriculture (DA). Agriculture Secretary Francisco Tiu Laurel Jr., who chairs the SRA Board, said the regulatory agency will issue Sugar Order (SO) 2 in the current crop year involving the purchase of about 200,000 metric tons (MT) to 250,000 MT of raw sugar after farmgate prices fell.

“The farmgate price of raw sugar declined to around P2,100 because we have ample supply,” the DA chief told reporters in an interview recently. “I think everybody’s waiting for this SO, so nobody wants to move.” Under the program, raw sugar

is purchased by eligible traders at a premium and classified as “C” or reserved sugar for around 90 days to temporarily draw off stocks from the domestic market in an effort to lift farmgate prices. Traders who purchased raw sugar higher than the prevailing market price will be prioritized in the government’s future import programs. The import allocation is set at a ratio determined by the SRA based on raw sugar purchased. According to the DA chief, SRA will also involve traders’ export of raw sugar to reduce domestic inventory. “ There’s also a mechanism where traders can export raw sugar to reduce their local stocks and there will be an equivalent import allocation,” he said. SO 2 for crop year 2025-2026 will serve as the third round of the SRA’s voluntary purchase program.

BUSINESSMIRROR FILE PHOTO

The agency first implemented the program in crop year 20232024, where it siphoned of f 300,000 MT of raw sugar from market circulation for 90 days. The second round was implemented by the SRA in the previous

N. Ecija farmers relying on UPRIS urged to plant munggo

HE Department of Agriculture (DA) is banking on mung bean production to prevent farmers from incurring income losses due to the severe irrigation damage in Nueva Ecija, the country’s top rice-producing province. The DA said it is preparing to shift around 37,000 hectares of rice land in Nueva Ecija for mung bean production amid the severe damage sustained by parts of the Upper Pampanga River Irrigation System (UPRIS) due to illegal quarrying. The National Irrigation Administration (NI A) is currently repairing the facilities, but the DA said this disruption threatens to slash the countr y’s dr y season palay har vest from Nueva Ecija and leave thousands of farmers without a major source

of income for months. For Agriculture Secretary Francisco Tiu Laurel Jr., the irrigation damage will leave a sizable dent in rice output early next year, citing the need to adopt crop diversification strategy. “This means our rice production early next year will be short by as much as 120,000 metric tons,” he said in a statement. “Both NIA and the DA will jumpstart munggo production to provide additional income for affected farmers, reduce our importation by increasing munggo self-sufficiency, and complement the supply of nutrient-dense food in every community.” Since mung bean or munggo is a basic necessity, the DA said local demand for food processing— such as munggo hopia, ready-to-

eat munggo soup, and lumpiang togue—would also be addressed. “This will serve as opportunity for farmers to diversify their income from this cash-crop which is harvested in a shorter time than rice.” The DA said the Philippines imports nearly 50,000 metric tons (MT) of mung beans annually, making the crop both a potential buffer for lost rice supply and an import substitution opportunity. With mung beans able to mature in around 60 days, which is roughly half the growing time of rice, the agency said this would enable farmers to recover some margins while irrigation repairs continue. Although average yields in Nueva Ecija hover at roughly 0.7 MT per hectare, the DA said farmers

could still earn about P22,600 per hectare at current selling prices of around P70 per kilo. Other mung bean varieties could yield more per hectare. “If we know what is lacking and what is in surplus, then we can plan better for the needs of our country. Since 37,000 hectares in UPRIS are down, planting munggo makes sense. When harvest season comes, we must time importation so our farmers profit,” the DA chief said. To expand and attain self-sufficiency in munggo, the DA said it will collaborate with its High-Value Crops Development Program (HVCDP) and NIA to develop the mung bean industry, targeting an additional 21,000 hectares along the latter’s irrigation system. Ada Pelonia

DA told: Provide details of farm-to-market road projects By Butch Fernandez @butchfBM

AR M-to-market roads (FMR), one of the sticky mountains that stalled the weekend’s bicameral conference committee on the 2026 budget, must be explained in detail before getting lawmakers’ final nod, the chair of the Senate agriculture committee said. Senator Francis Pangilinan wants a detailed explanation and breakdown—with proper coordinates—of some P8 billion worth of FMR projects in the proposed 2026 budget. The senator said he will not be amenable to the proposed budget until such time all details for the FMR projects will be available for scrutiny and cross-checking.

This comes in light of the bicameral conference committee doubling the 2026 budget for FMR projects to P33 billion, but Pangilinan—who chairs the Senate Committee on Agriculture, Food, and Agrarian Reform and defended the Department of Agriculture’s (DA) budget in the Senate—identified and flagged some P8 billion worth of projects without specific details. The DA is the implementing agency of the FMR projects. Earlier, at the height of the outcry against ghost infrastructure projects, Agriculture Secretary Francisco Tiu Laurel Jr. acceded to senators’ suggestions for the DA to take over supervision of the FMRs, instead of the graft-ridden DPWH. “Isn’t the Senate version P16 billion?,” Pangilinan asked on Wednesday, referring to the Senate-

approved FMR budget. “And then in the bicam, we asked for submissions for the P33 billion that was being proposed. So, we suggested that they submit; we processed these, and identified a gap of actually P8 billion.” “Initially, there were no specifics so since the bicam hasn’t closed yet, so we will raise this in the bicam and we want coordinates. We want geo-tagging. We want itemized, line by line items of each contract, or each project. Kasi it cannot be lump sum. We won’t agree to lump sum,” he said, speaking partly in Filipino.. The senator is the vice chair of the Subcommittee J of the Senate Committee on Finance and a member of the bicameral conference committee. Pangilinan said, “we will move for the reconsideration for the

Capiz planters receive solar irrigation facility

HE Department of Agrarian Reform (DAR) and the National Irrigation Administration (NIA) have turned over a P7-million solar-powered irrigation project to a multi-purpose cooperative in Barangay Matagnop, Dao, Capitz. The project aims to boost farm productivity and increase the income of local farmers. The Matagnop Solar-Powered Irrigation Project (SPIP) was turned over to the Matagnop Royale Multipurpose Cooperative (MPC). Funded under the Comprehensive Agrarian Reform Program-Irrigation

Component (CARP-IC), the project now provides a reliable and sustainable water supply to 30 hectares of farmland within the Matagnop-AgtambiMalonoy Agrarian Reform Community (MAM ARC), directly benefiting 33 farmers, including 25 Agrarian Reform Beneficiaries (ARBs). The improved irrigation system is expected to increase crop yields, enable year-round farming, and help reduce poverty in the community. The SPIP features a 932.30-meter bench flume, deep well facilities, two pump houses with perimeter fencing, stilling pools, drainage crossings, and

two solar-powered water pumps that utilize groundwater as the main source. By using renewable energy, the system lowers irrigation costs while ensuring consistent water access even during dry months and enhances food production. “This project is a concrete expression of the government’s commitment to empower our ARBs. By ensuring reliable access to irrigation, we are giving our farmers the tools they need to increase their yields, improve their income, and sustain their livelihood,” said DAR-Capiz OIC-Municipal Agrarian Reform Program Officer Ma. Zenaida A. Andrada. Witnessing the turnover were Engr.

approval of the P33 billion as long as there are itemized geo-tagged coordinates for the FMR projects under the amount.” Prev iously, he ra ised concerns about the use of lump-sum amounts in the proposed budget for farm-to-market roads, emphasizing the need to specify exact coordinates for each project. To ensure the funds are corruption- and abuse-free, the senator also introduced transparency mechanisms and digital governance initiatives for the DA and the National Irrigation Administration (NIA). Among these is a public online dashboard for irrigation projects, where timeline, status, finances (obligated/disbursed/source of funds), awarded contracts, contractors, and geo-tagged photos taken at key stages (start, mid, completion) will be displayed. Wilhelm S. Tiangco, Acting Project Manager of NIA Central Office CARPIC; Engr. Raymond B. Mojares, NIA Aklan-Capiz IMO Manager; Roger T. Escleto, Municipal Agricultural Technologist; Ma. Zenaida A. Andrada, DAR-Capiz OIC-Municipal Agrarian Reform Program Officer; Rene N. Palomo, Barangay Captain of Matagnop; and Rodulfo Escubio, Chairperson of Matagnop Royale MPC, along with cooperative officers and members. By harnessing clean energy, the Matagnop SPIP supports sustained food production, higher farm incomes, and a stronger local agricultural economy, underscoring DAR’s continuing efforts to empower ARBs.

Jonathan L. Mayuga

crop year 2024-2025, which covered 500,000 MT of the sweetener in the same period. Data from the SR A showed that farmgate price of raw sugar fell by 7.7 percent to P2,363 per 50-kilo bag as of November 23,

from P2,560 in the same period last year. Sugar output stood at 566,701 MT in the reference period, up by over a third or 35.12 percent from 419,400 MT recorded a year ago, SRA data showed. Figures from the SRA showed that the country’s raw sugar output settled at 2.085 million metric tons (MMT) in the previous crop year 2024-2025. For crop year 2025-2026, the SRA said raw sugar production could fall to 1.92 MMT as torrential downpours and pest infestation battered plantations in Negros, which accounts for 65 percent of total output of the sweetener. However, the agency noted that output in the current crop year may even be lower than the initial forecast owing to the potential impact of red-striped soft-scale insect infestation on yield.

High coffee prices are changing how consumers take their daily brew

LOBAL coffee prices rose to record highs this year, sending the cost of cappuccinos and lattes soaring. But a caffeine habit is hard to kick. So instead of giving up their daily brew, people are choosing cheaper options such as drivethrough baristas or whole beans delivered to their door. An array of data, including visits to US coffee shops and international consumer surveys, point to a growing shift in coffee drinkers’ habits that mirrors how consumers of everything from burritos to beef steaks are adapting to persistent inflation. It’s a business trend that’s raising competition for some of the biggest chains, but also a cultural shift among cost-conscious members of Gen Z. US consumers spend more than $100 billion a year on coffee products, according to the National Coffee Association. As prices have risen, people “have not necessarily been cutting back coffee consumption,” Kona Haque, head of commodities research at ED&F Man, a top trader in agricultural goods, told Bloomberg Television. “They’ve been trading down.” Exactly how they do this depends very much on whether a person views coffee as essential fuel or a quintessential luxury. An aficionado who craves a particular variety of bean or darkness of roast is going to do it differently from a busy parent who grabs a cup after the school run. Ed Harrison, a managing director at communications firm Inkhouse, falls into the first categor y. He used to go to a coffee shop six to seven times a week, but now visits just four times a month. Instead, he’s purchased a grinder, drip-coffee maker and espresso machine for his Massachusetts home. It ’s ex pensive upf ront but “there’s no comparison” in the daily savings, Harrison said. In an October survey of 1,900 international coffee consumers, Citigroup Inc. found that rising prices have driven 37 percent of people to make more coffee at home. This was a worldwide trend, with drinkers in the US, Australia, China, Thailand and the UK showing similar shifts. Of those who weren’t already doing so, about two-thirds told the bank they expect that to change in the next 12 months. US-based Trade Coffee, which sells from local roasters direct to consumers largely via a subscription, previously tailored to aficio-

nados who bought whole beans to grind at home. Its latest cold brew offerings brought new customers who instead “valued that they were saving money,” said Jessica Crystal, the company’s director of growth marketing. During last month’s Black Friday sales in the UK, purchases of home coffee machines jumped by 43 percent from a year earlier, according to data compiled by NielsenIQ. Even cheaper options for decent homemade coffee private-label brands that are produced by roasters but sold under a major retailer’s own brand name are “increasingly more important when budgets are tight,” said Jeffrey Young, managing director at research firm Allegra Strategies. Westrock Coffee, a privatelabel manufacturer with a readyto-drink plant in Arkansas that opened last summer, is already getting demand that exceeds its capacity and building new production lines, said Chief Operating Officer Will Ford. Among people without the time or the inclination to brew coffee at home, behavior is also changing. Locations in the US that specialize in cheaper drive-through and convenience store coffees are seeing growth in customer visits, some in the double-digits, said RJ Hottovy, the head of analytical research at Placer.ai, which tracks foot traffic. In contrast, established chains Starbucks and Tim Hortons Inc. which also have drive-throughs saw declines in per-store visits from January to November from a year earlier. Sta rbuc k s C hief Execut ive Officer Brian Niccol said on a call with analysts earlier this year that the company’s three businesses in-store, dr ivethrough and digital “are each substantial on their own.” He said in October that customer value perceptions had strengthened across all generations for the fiscal year, as the company snapped a six-quarter decline in sales at established stores. A Tim Hortons spokesperson said the company serves both coffee and other food options “with strong everyday value that is highly competitive versus our peers.” The expanding chains have “done a good job keeping that average cup of coffee or coffeebased drinks relatively cheap,” Hottovy said. They are also benefiting from rural and suburban population growth where coffee shops are less concentrated, he said. Bloomberg News

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Thursday, December 18, 2025

COMMITMENT TO ENHANCING EMPLOYMENT FACILITATION

NATIONAL DAY On December 9, Ambassador Ahmed Saad N.A. Al-Homidi led the

celebration to commemorate the founder and first ruler of the State of Qatar Sheikh Jassim Bin Mohammed Bin Thani. PNA/AVITO DALAN

YEAR IN REVIEW

Executive Vice Chair Chris Nelson of the British Chamber of Commerce Philippines provided on December 10 a rundown before members of local press of the chamber’s accomplishments for 2025, including its purview of the Philippine economic landscape, priority legislation supported, and its overall plans for next year.

Asean-South Korea strategic linkage to further solidify

By Rizal Raoul S. Reyes

HE ties binding Asean and the Republic of Korea (South Korea) are primed for a significant upgrade, transitioning from a traditional partnership to a comprehensive strategic partnership (CSP) focused on mutual growth and high-value collaboration. This was reiterated by the top official of a non-profit diplomacy organization affiliated with the East Asian country’s Ministry of Foreign Affairs. “This partnership is not just beneficial—it is essential for both parties to navigate the evolving global economic landscape, secure supply chains, and overcome the ‘middleincome trap,’” said Korea Foundation (KF) Public Diplomacy Manager Choi Hyun-soo in his presentation at the recently concluded “Asean-Korea Forum: Korea’s New Vision for Asean: Contributor, Springboard, Partner.” He recognized Asean’s status as a major economic powerhouse that provides a crucial foundation for the partnership. Currently the world's fifth-largest economy, the association is projected to surge as the fourth-largest in the near future. With a gross domestic product of $3.9 trillion, it is the thirdlargest global trader ($3.8 trillion total trade), and has been the top recipient of foreign direct investment over the past four years. Amid global concerns, Asean has shown resilience and remains a bright spot, with surveys indicat-

ing that companies plan to continue expanding their operations and investments in the region, building out crucial supply chain strategies. From the Korean perspective, Choi said the usual cooperation model—where Southeast Asia merely served as a simple assembly plant—has reached its limit due to rising trade protectionism, high tariffs, and China’s oversupply. “My vision is to reposition Asean: from a manufacturing base, to a frontline hub for research and development (R&D) and innovation,” the KF official said. He said the shift is crucial for Korean companies to secure supplychain stability and future growth engines by moving advanced manufacturing functions globally. The partnership focuses on several key areas, underpinned by ongoing initiatives and planned upgrades.

Supply chain resilience, industrial upgrade

ACCORDING to Choi, the core of the new partnership is the shift toward higher productivity and advanced industrial cooperation. On productivity and value-add,

the goal is to move beyond simple assembly to an advanced division of labor. Korean investment, particularly in R&D and smart automation, will help raise the productivity of Asean workers and manufacturing capabilities. With regard to R&D and innovation hubs, a “dualization strategy” is proposed: South Korea functions as the global control hub for platform technologies, while Asean diversifies into a global production base plus a localized R&D hub to develop customized products for local markets and accumulate advanced technology. For digital transformation, transferring smart automation systems from Korean manufacturing to Asean will help build data-driven quality management systems, enhancing industrial competitiveness. The development of regional power systems is a major area for Korean technology and investment. Meanwhile, the Asean Power Grid Initiative aims to facilitate crossborder electricity trade, with nine out of 18 priority interconnection projects already completed. The projected tripling of power demand by 2050 requires massive investment and cooperation. Speaking of technology and investment: Large projects need to be jointly created with technology suppliers and private sector investment. South Korea as a neutral, high-value-added partner can supply crucial high-tech components like highvoltage direct current transmission technology essential for scaling up the grid. On sustainable environment: South Korea has already supported studies on critical mineral security, and is contributing to the advanc-

Fresh agenda

CHOI said negotiations for the Asean-South Korea free trade agreement upgrade beginning next year will be through a “New Trade Agenda,” integrating emerging issues such as digital economy framework, trade facilitation, and the Regional Comprehensive Economic Partnership or RCEP, providing the East Asian country’s firms with unparalleled access to a vast, integrated market. To make the leap to a high-value industry, he explained that the partnership emphasizes human-resource development and the creation of a supportive ecosystem. Also, the KF official said the transfer of global-level know-how and the creation of high-quality jobs for researchers, process experts and data analysts—not just factory workers—will provide a springboard for Asean to overcome the middleincome trap. For Choi, the move to a CSP is a strategic necessity that aligns South Korea’s need for global stability and advanced manufacturing functions with ASEAN’s demand for technological transformation and high-value industry development. “By focusing on productivity, R&D, digital trade, and energy security, the partnership ensures mutually beneficial and sustainable growth for both the Korean economy and the diverse nations of the Asean system,” he concluded. The event was organized by Geopolitics Insight in cooperation with the Korea University Asean Center, Stratbase and the University of the Philippines’ Korea Research Center.

First Asean online travel agent captures best travel booking app award for Year 3

AIRASIA MOVE Chief People and Partnerships Officer Ben-Jie Lim (center) accepts the award attended by travel industry leaders and innovators from around the world.

nei, Ethiopian Airlines, and Vietjet Air (via GalaxyJoy), making a total of more than 70 direct airline partners under its platform. AirAsia MOVE CEO Nadia Omer said “winning this award for the third consecutive year is a meaningful recognition of what we are building: a travel platform born in Asean, made for Asean, and now serving Asia and beyond. We have completely evolved

from an airline app into a truly global, multi-airline, multi-product OTA, while staying consistent to our vision to be Asean’s favorite travel app by creating inclusive, fun, and affordable journeys. This year, we’ve also strengthened regional partnerships by working closely with tourism authorities in Thailand, Indonesia, Singapore, and Dubai Tourism to drive travel growth together.”

US-supported workshop aims for safer, tsunami-ready Philippines

ing of Asean's sustainability agenda (circular economy, blue economy, and sustainable finance).

TAKING FLIGHT ANAMA, BAHR AIN— AirAsia MOVE (MOVE) has once again been crowned “Asia’s Best Travel Booking App” at the World Travel Tech Awards 2025, marking the third consecutive year it has been recognized with this prestigious title and reinforcing its position as the region’s leading homegrown online travel agent (OTA). MOVE’s continued recognition is underpinned by significant year-onyear growth across users, bookings, and partnerships in 2025. Its monthly active users remain strong at 15 million, as bookings across major verticals also grew, with hotel bookings going up nearly 40 percent, and SNAP (flight and hotel bundle) bookings climbing 30 percent. Bangkok, Kuala Lumpur, and Kota Kinabalu were top destinations for users. MOVE also expanded its direct airline partners this year to also include Sri Lankan Airlines, Royal Bru-

World Association of Public Employment Services Executive Secretary Amandine Moignard (foreground, right) and Labor and Employment Secretary Bienvenido E. Laguesma (foreground, left), led the signing of the Conference Resolution on the second day of WAPES-Asia-Pacific Regional Conference 2025 on November 7, affirming the region’s commitment to enhancing employment facilitation by supporting the digital transformation of public employment services. Key points in the resolution include empowering the youth through technology-enabled pathways, promoting active ageing and the continued employability of older workers, improving labor migration and mobility, as well as strengthening regional alliances and capacity development.

Omer further stated that the award is also a testament to the hard work that each and every Allstar at MOVE has put in: “With expanding airline options, deeper collaborations, and enhanced user experiences, we’ll continue helping travellers to discover more, plan better, and travel more, for less.” Powered by enhancements to its artificial intelligence-driven AskBo chatbot, a refreshed interface, and exciting offerings such as MOVETIX—its global liveevents ticketing platform, and Cancel for Any Reason, MOVE’s next phase will emphasize social discovery, enabling users to find trip inspiration through content, and booking it all seamlessly in one place. With access to over 700 airlines and over a million hotels, MOVE remains committed to being a platform that keeps travellers curious, connected, and inspired.

DEPUTY Chief of Mission Y. Robert Ewing and Science Secretary Renato Solidum Jr. (fifth and sixth from left) join Philippine officials and international experts from the NOAA, UNESCO, and partner tsunami centers at the opening of the Tsunami Ready National Workshop on December 8.

ATIONAL and provincial government officials and civil society representatives underwent a three-day workshop to strengthen the Philippines’ capacity for tsunami preparedness and response. The United States National Oceanic and Atmospheric Administration and the Department of Science and Technology-Philippine Institute for Volcanology and Seismology (DOST-PHIVOLCS) organized the Tsunami Ready National Workshop from December 8 to 11, as they gathered experts from NOAA’s International Tsunami Information Center (ITIC), the Pacific Tsunami Warning Center, and UNESCO’s Intergovernmental Oceanographic Commission. Funded by the US State Department, the workshop equipped participants with the skills in conducting risk assessments and developing effective warning systems and evacuation plans in case of tsunamis. “Preparedness saves lives. The Tsunami Ready Workshop demonstrates our two countries’ shared commitment to ensuring every community has the tools to face tsunami threats with confidence,” Deputy Chief of Mission Y. Robert Ewing of the US Embassy said at the

workshop’s opening ceremony: “For decades, the US and the Philippines have worked together on disaster preparedness, which keeps Filipinos and visiting Americans safer, stronger, and more prosperous.” The workshop supports the Philippines’ implementation of IOC’s Tsunami Ready Recognition Programme, which guides high-risk coastal communities in meeting the 12 key indicators required for “Tsunami Ready” recognition, including mapping tsunami hazard zones, approving evacuation maps, conducting regular community tsunami exercises, and ensuring reliable alert systems. It was modeled after the US’ TsunamiReady® program. “Tsunamis are no-notice events. We don't know when the next big one will be, so we need to always be ‘tsunami ready,’” said Dr. Laura Kong who is the director of the ITIC—the primary provider of tsunami preparedness training in the Pacific. In his remarks, Science Secretary Renato Solidum Jr. recognized more than 20 years of collaboration with American scientists for tsunami preparedness: “With your help, we hope to finally see our very first internationally recognized tsunamiready…communities in the Philippines very soon.”

Stronger Australia–Philippines ties seen with launch of new Brisbane-Cebu route

NEW inaugural service connecting Brisbane and Cebu City is opening a major chapter in aviation between Australia and the Philippines. This was made possible on December 3 by Jetstar, as its first scheduled service to a destination in the Philippines outside Manila. The new route will not only enhance tourism, but also strengthen trade, investment and cultural ties between the two countries. Since 2004, Jetstar has grown from an Australian low-cost carrier into one of the Asia-Pacific’s leading airlines, serving millions across a network of more than 50 destinations. “This is a tangible demonstration of the Australian government’s commitment to do more business with the Philippines and facilitate greater economic links,” Ambassador Marc Innes-Brown of

Australia said. “The timing of the introduction of this service will hopefully make a contribution to Cebu’s recovery from the terrible typhoon a few weeks ago.” Aviation links have been a key facilitator of greater people-topeople linkages and business prosperity, according to the Australian Embassy. In September, Australia and the Philippines updated their bilateral air services arrangements, as they agreed to double passenger capacity from 35 to 70 weekly services to major Australian cities by the fourth quarter of 2026. It is expected to expand traffic rights for dedicated cargo services, and increase codeshare opportunities for airlines of both countries. More broadly, under “Invested: Australia’s Southeast Asia Economic Strategy to 2040,” Australia is expanding its trade and investment with the Philippines.

B6 Thursday, December 18, 2025

Golden Icons Unites Public, Private Sectors to Restore Hope for Typhoon Tino Survivors in Compostela, Cebu

n the aftermath of Typhoon Tino, Asia’s Golden Icons and Awards & Events Inc. (Golden Icons) mounted a large-scale humanitarian outreach in Barangay Cabadiangan, Compostela, Cebu, uniting leaders from the public and private sectors, medical professionals, corporate partners, and volunteers in a collective effort to help affected communities recover and rebuild. More than a relief operation, the initiative formed part of Golden Icons’ Corporate Social Responsibility (CSR) program and was designed as a holistic response to disaster recovery. Services extended to residents included medical consultations and diagnostic examinations, mental health awareness and psychosocial support, distribution of relief goods, wellness services such as free haircuts and therapeutic massage, as well as the sharing of cooked meals and pastries to support both physical nourishment and emotional well-being. The outreach was attended by Compostela Mayor Jury Quiño and 5th District Board Member Mike Villamor, whose presence underscored the importance of collaborative leadership and public-private partnerships in responding to emergencies and reaching vulnerable communities. Golden Icons also acknowledged the contribution of Professor Justin Ray N. Chavez, a licensed professional

clinical psychologist, who led the mental health awareness and psychosocial support component of the program, helping families take initial steps toward emotional recovery following the disaster. Healthcare services were provided through a medical mission led by Dr. Roda Vasquez of the Cebu Medical Society – Cebu Chapter, together with volunteer doctors and intern doctors from Southwestern University, who offered free consultations and medical assistance to residents. The initiative was made possible through the collaboration of Rotary Club of Makati Uptown, iCare, Insular Life (InLife) Foundation Inc., Chunnel and Channel Realty Marketing & Development Corporation, One Top Medical System Resources, TESDA, and Rotary District 3780, highlighting how aligned efforts

among institutions and businesses can create meaningful and lasting impact. Golden Icons also expressed its appreciation to the officials and volunteers of Barangay Cabadiangan, as well as to the Armed Forces of the Philippines, particularly the Operation NCO of 2CMO Company, 14CMO Battalion, for providing logistical support, coordination, and security that ensured the smooth implementation of the program. As communities continue to recover from the effects of Typhoon Tino, Golden Icons reiterated its commitment to humanitarian service and called on business leaders, institutions, and advocates of social responsibility to join in strengthening recovery efforts, turning compassion into action and purpose into lasting change.

Paco Park Presents: Gloria in Harmony: A Christmas Concert

N December 19, 2025, Paco Park Presents ushers in the spirit of the Christmas season with “Gloria in Harmony: A Christmas Concert,” featuring the voices of The Assumptionist Choir at the historic Paco Park. The performance begins at 6 pm and is free and open to the public. Filled with sacred hymns, timeless carols, and beautifully arranged choral pieces, the concert captures the warmth, reflection, and hope that define the holiday season. Audiences are invited to experience a serene evening where tradition meets heartfelt devotion, set against one of Manila’s most iconic cultural landmarks. Founded in 1968 at San Felipe Neri Parish in Mandaluyong City, The Assumptionist Choir (TAC) has grown from a group of faithful students into a respected liturgical ensemble known for its blend of reverence, artistry, and polished musicality. Their repertoire spans classical hymns, Filipino and Western carols, and contemporary liturgical compositions, enriching the spiritual experience of listeners with every performance. Among their notable recent engagements are the UNWND Hotel Christmas Tree Lighting, Simbang Gabi services across several parishes, the S.A.L.A.M.I.N. Concert, and various Marian celebrations within the Archdiocese, reflecting their continued dedication to serving both church and

community through sacred music. More than a concert, Gloria in Harmony is a gentle reminder that in the stillness of the season, music becomes a prayer, illuminating the hope, warmth, and grace at the heart of Christmas. Join us on December 19, 2025 at 6 pm and celebrate the beauty of the season through “Gloria in Harmony,” a musical offering that brings together faith, artistry, and the timeless message of Christmas. Paco Park Presents is organized by the National Parks Development Committee and the Department of Tourism in partnership with Sound Experience Manila. Admission is free.

For the Hands That Once Held You, Now You Hold Them in Love, Devotion

HE hands that once guided you, nurtured you, and protected you now rest in yours. Every hug, shared meal, and quiet moment is more than a routine— it’s a chance to return the love that shaped your life. That’s why Assure® Protective Adult Diapers are designed to support comfort, discretion, and confidence in everyday living. Assure® helps those you cherish feel at ease throughout the day, while offering added reassurance to families that daily needs are

being thoughtfully addressed. Honor them in ways that truly matter— with warmth, devotion, and attentiveness that begins with the gentle support they deserve today. Assure® Protective Adult Diapers — Comfort you can trust, respect that preserves dignity. Give a gift of support, well-being, and peace of mind—every day, in every moment. Learn more about Assure® products: Visit Assure® Diapers on Facebook.

Precision Meets Performance at Honda Big Bike Circuit Experience Fossil Opens the Season with Gifts That Speak for You

ONDA Philippines, Inc. (HPI), the No.1 motorcycle manufacturer in the country, recently gathered riders, aspiring big bike owners, dealer customers, media, and moto vloggers at the Honda Big Bike Circuit Experience, an adrenaline-filled test ride event that showcased the power and precision of Honda Big Bikes on a professional racetrack. Held at the Batangas Racing Circuit, the event drew an impressive 128 participants, all eager to push Honda’s Sports and Super Sports motorcycles in an environment specifically designed for speed, precision, and control. Throughout the day, all the riders had the chance to test ride the full line up of Honda Big Bikes from motorcycles with an engine displacement of 500cc all the way up the top-of-the-line among the big bikes

– the Honda Goldwing. Participants immediately felt the engineering precision once they hit the track. Many noted how the motorcycles delivered confidence-inspiring control, even at higher speeds. Riders also observed the bikes’ stability during cornering, as well as the smooth, predictable power delivery that allowed them to focus on mastering each section of the circuit. Across different skill levels, guests highlighted how the ergonomics, balance, and handling made the overall experience both exciting and comfortable, showing how Honda Big Bikes are engineered to perform for a wide range of riders. HPI also expressed its commitment to bringing more performance-driven events to Filipino riders. “Honda Big Bikes are built for riders who want real performance

they can feel on the track. We’re glad to see so many enthusiasts experience the precision and control our motorcycles are known for,” said Lloyd Garces, HPI Fun Section Manager. The event reinforced Honda’s mission to allow riders to experience precision performance firsthand—beyond specs, beyond displays, and exactly where these motorcycles are meant to shine. For more information, visit www. hondaph.com. Stay updated on Honda’s newest products and promos by following Honda Philippines, Inc. on Facebook at facebook.com/hondaph, Instagram at instagram.com/hondaph_mc/, YouTube at Honda Philippines_Motorcycle, and TikTok at tiktok.com/@hondaphilippines. For inquiries, contact (02)-8581-6700 to 6799, and 0917-884-6632.

HERE’S a certain magic in a gift that feels like it was meant for them, a familiar shade of green, an engraving that reveals an inside joke, a detail so small yet instantly unforgettable. This is the essence of Festively Fossil, the Holiday 2025 collection shaped by pieces that feel thoughtful, personal, and grounded in the joy of giving. It’s a season to slow down, pay attention, and choose gifts that say more than the holiday card ever could. The Everett Automatic returns with a confident steel build and an open-heart dial that offers a glimpse into the movement within. It’s quietly expressive, a watch that matches the energy of someone who values both purpose and presence. Carraway continues Fossil’s fascination with early 20th-century architecture – composed lines, sculptural structure, and a sense of clarity in form and function. The new Automatic version deepens this story with a

skeletonized dial and croc-embossed leather strap, giving the watch a heritage feel that still reads modern. Brown-and-black dial treatments breathe new life into two Fossil staples. The tones are understated, versatile, and suited for both everyday rhythm and seasonal gatherings. Fossil’s bestselling profiles are refreshed in gold tones and festive greens, a color story that nods to the season while still blending easily into daily wardrobes. It’s celebratory, but never costume-like; fresh, but still familiar. The brand continues to offer complimentary engraving and embossing for watches, jewelry, and leather goods. It’s a simple gesture that makes a gift feel unmistakably personal — initials, messages, dates, or secrets only the two of you understand. The complete Holiday 2025 lineup is available in Fossil stores and online.

www.businessmirror.com.ph • businessmirror.lifestyle@gmail.com

Parentlife BusinessMirror

Editor: Gerard S. Ramos • Thursday, December 18, 2025

Making Christmas get-togethers count PHOTO BY EUGENE ZHYVCHIK ON UNSPLASH

HOLIDAY RECIPE: EASY-TO-CREATE TIRAMISU FOR NOCHE BUENA

LOOKING for a classy no-bake dessert to complete your Noche Buena? Chef Paul John Pamaran Zamora of the beloved Lulu’s Pies recommends tiramisu—a mouthwatering Italian treat which consists of layers of lady fingers soaked in coffee or brandy, then topped with powdered chocolate and mascarpone cheese or cream. Tiramisu, which means “pick me up” in English, has become a popular dessert in the country. This decadent sweet lives up to its name with its rich and creamy blend of cocoa and caffeine which brings a comforting cheer. This holiday season, Zamora, a Culinary Arts graduate from the De La Salle-College of Saint Benilde (DLS-CSB) School of Hotel, Restaurant, and Institution Management (SHRIM), continues his mission to promote hospitality and warmth through food as he shares his easy-to-prepare tiramisu. Mascarpone cheese, one of the highlights and original ingredients of the dessert, may only be offered in specialty grocery stores or baking supply shops. So here’s his tip: utilize accessible alternatives available in local markets. “There are a lot of tiramisu recipes you can find. In fact, it has gone viral lately,” he states. “But for me, the best way to make a recipe is to consider your budget, convenience, and taste preference.” His personal take may lean toward the classic chocolatecheese-coffee combination. But Zamora encourages a little exploration for those who wish to elevate their spreads. “If lady fingers are to no avail, you may also use graham crackers,” he recommends. A dash of your favorite fruit—think mango or banana— when evenly layered likewise makes a welcome addition. “This gives us the classic Filipino-graham-tiramisu we grew up with,” he says. “For me, this Christmas nothing gives more joy to your table other than a recipe made from the labor love with no pretentions—just pure loving intentions,” he says. Zamora currently leads Lulu’s Pies, a go-to brand for apple pies for celebrations and milestones, to continue his mother’s legacy. Under his leadership, he developed food safety standards which resulted in high-quality service ratings from customers, conducted extensive training and supervision for the staff, and launched marketing campaigns on various platforms including television appearances and cooking demonstrations. Zamora, who likewise serves as a flight steward for Philippine Airlines, has built careers in the aviation and baking industries where he continuously upholds cherished family tradition, expresses true Filipino hospitality, and applies his commitment to lifelong learning. EASY-TO-CREATE TIRAMISU RECIPE BY CHEF PAUL JOHN PAMARAN ZAMORA INGREDIENTS: 200 grams lady fingers 2 to 3 tablespoons vanilla extract ¼ teaspoon salt 2 cups strong or bold coffee 5 tablespoons rhum Cocoa powder for garnish FOR THE MASCARPONE ALTERNATIVE: 500 grams All-purpose cream, chilled 225 grams cream cheese ¼ cup powdered sugar PROCEDURE: Using a hand mixer, whip (slow-med) the all-purpose cream until it doubles in volume. Make sure the cream is wellchilled overnight. Add the softened cream cheese gradually until fully incorporated. Add the powdered sugar gradually until dissolved and well incorporated. Set the cream-mixture aside for about 1 hour prior to use. In a separate container, add coffee and rhum. While sugar may be optional for added balance, you may also adjust rhum according to your preference. Set coffee mixture aside. To assemble, prepare a square or rectangular pan. Spread a layer of cream mixture. Alternate layers with lady fingers soaked in the coffee mixture. Repeat, ensuring each layer is even. Top layer should be the cream mixture. To finish, dust cocoa powder completely covering the top layer. Serve and enjoy.

HRISTMAS get-togethers are just around the corner. Our calendars are slowly filling up with invitations—family reunions, barkada dinners, office potlucks, and extended clan celebrations that stretch from Christmas Eve to New Year’s Day. Some gatherings are intimate, others loud and joyful, but all of them remind us that the holidays are a great time to slow down and catch up with people important to us. This column is a simple guide for parents and families preparing for these get-togethers, especially the big celebrations of Christmas and New Year’s Eve. While the pressure to host “perfectly” can feel overwhelming, the goal is not perfection—it is connection. With a little preparation, these gatherings can become meaningful moments our children will remember long after our Christmas trees and decorations come down. As we prepare for the celebrations ahead, one of the first things families think about is food. Filipino gatherings revolve around shared meals that welcome every generation to the table. Thankfully, there are many trusted options within Greater Manila that make hosting easier without losing the heart of the celebration. Check their respective pages on Facebook. For traditional favorites, Sabroso’s Lechon remains a reliable choice for crispy, well-seasoned lechon that feeds a crowd. The Plaza Ham continues to be a holiday staple, known for its sweet-savory glaze and nostalgic Christmas appeal. These dishes often anchor the Noche Buena table and instantly signal celebration. For hearty, crowd-pleasing mains, Manila Cheese Steak offers loaded cheesesteaks and sides that appeal to both kids and adults. The Lazy Pig is well-loved for its barbecue platters, ribs, and grilled favorites that travel well and feel generous on the table. Families looking for comforting Filipino dishes can turn to The Brook’s Restaurant in Taguig, known for its homestyle cooking—from lechon kawali and kare-kare to classic desserts. For slightly elevated spreads, Mama Lou’s Italian Kitchen offers family-style trays of pasta, pizza, and tiramisu that are easy to share. Wildflour Café + Bakery is a favorite for premium baked goods, brunch-inspired platters, and desserts that feel

special without being intimidating. For dessert tables and giveaways, Lê Sucré Lab adds elegance through beautifully crafted pastries, cakes and macarons that double as conversation pieces. For local delicacies, check out Tita Paring’s Suman Latik found in malls like Greenhills Shopping Center and Ayala Trinoma, and my childhood favorite Goldilocks’ Cathedral Window Jello treat. Many of these businesses offer party trays or coordinate deliveries via GrabFood or Foodpanda— especially helpful when hosting large groups or when time and energy are limited. Choosing to order in allows hosts to focus on what truly matters: being present. Next come activities, which I believe are just as important as the meal. After eating, children naturally gravitate back to screens. But we also know how much children love arcades. Why not recreate that joy at home? Setting up a mini home arcade that can delight both kids and adults. Toy Kingdom and local toy sellers now carry compact versions of air hockey tables, pinball machines, duck target games, basketball hoops, and even claw machines. Some even come in characters that both kids and adults relate to, like Minecraft and Pacman. These simple setups invite laughter, friendly competition, and shared memories across generations. Other meaningful activities include board games,

family talent shows, storytelling corners, or simple craft stations. Since we don’t traditionally celebrate Thanksgiving, families can introduce a “Thank You Time”—where each person expresses gratitude to one family member. This small ritual teaches children appreciation, empathy, and the courage to speak kind words aloud. Imagine the confidence it builds for your children to be heard like an adult. Gift exchanges also shape the tone of gatherings. A classic White Elephant exchange keeps things playful and budget-friendly. Families may also try themed exchanges such as “Something Useful,” “Something Homemade,” or “Books and Games,” shifting the focus from price to thoughtfulness. Finally, don’t forget memorable photography. Prepare a simple photo list: four-generation shots, cousins grouped by age, candid laughter, and quiet moments on the couch. Themes like matching colors, holiday pajamas, or barefoot comfort help preserve the warmth of the day. In the end, planning gatherings with intention deepen family bonds. It is choosing connection over distraction, presence over perfection, and gratitude over excess. This Christmas, may the moments we create teach our children not just who they are but also to be grateful for the family they belong to and, most importantly, how deeply they are loved. Happy holiday gatherings, everyone!

Giftgiving is made a fun chore during the holiday season BY PATRICK VILLANUEVA NOT everyone is great at giftgiving, as many struggle to find gifts perfect for their loved ones. Moreover, it’s also difficult to find the perfect gift to give to your team during Christmas parties. But, it’s also the most satisfying when you can see them smile after receiving a gift from you. So, buckle up and prepare your giftgiving spirit for Anko has a great selection for cute holiday themed gifts that the receiver will surely appreciate. For the ladies and the vanity-inclined who you know like to cutie-fy their beauty rest and session, Anko has a Naughty or Nice Eye Mask for only P130, and pair it with adorable lip balms, designed to fit the holiday season (Gingerbread Man, Disco, Flamingo, and Koala) for P150. On the other hand, simple and practical gifts for the guys can also be adorable. Anko’s 3D Gingerbread Mug (P290) combines function and cuteness to soften up the guys. Add Natural Tea Towels (P350) and Santa Hat Chair Cover (P 190) and he will surely appreciate the Christmas haul. Kids like to play and, of course, Anko has a section that would fill up the Christmas spirit for the kids. While there are plenty like toy cars and dolls, our recommendation this time would be Takumo Kawaii Kitty (P220) and Kawaii Squishy Bun (P220). Meanwhile, for co-workers who value decorations at home, Anko’s Christmas home collection of Oh What Fun, Merry & Bright, and ’Tis the Season Globe Candles would liven up their home for only P590 each. Kindly add a 6” Santa Basket (P440) so you could help them find a space to keep their things. Anko also has a selection for furparents, as the Christmas Chicken Pet Toy (P260), the Christmas Rope Toy Food Set (P260), or the Plush Bone Toy 2-Pack (P260) will give joy to the pets, which in turn,

EVERYONE’S UPGRADING TO THIS ELECTRIC TOOTHBRUSH

will make their furparents happy. Practical gifts to help those starting a new life can also be found here. Any of the Compact Espresso Machine (P3,490), Mini Donut Maker (P790), Mini Waffle Maker (P790), and the 3.75L Air Fryer (P3,600) would make their living situation more practical and more fun. If you are unsure, however, Anko Gift cards priced at P500 and P1,000 are also available here so they could choose what they want to spend it on. Giftgiving is a fun chore if you know that they will receive a gift that they will like and use for a long time. That’s all the more reason to find places where you can find a variety of gifts to ensure that you can select what they need. So visit Anko at Glorietta or TriNoma to choose the perfect gift this holiday season.

YOU’VE upgraded your skincare and your hair routine. But your toothbrush is still the old manual—why? If you’re serious about self-care, especially your dental health, there’s one switch you shouldn’t sleep on: the upgrade to an electric toothbrush. Powered by dentist-designed tech, the Oral-B iO Series is built to outperform manual brushing in every way. Whether you choose the newly launched iO2 or the premium iO3, both come with Oral-B’s signature round brush head that hugs each tooth and reaches deep into problem areas, especially the back molars where plaque silently builds. The best part? The Oral-B iO Series was designed to feel like a natural part of your routine. You don’t have to follow a complicated technique. You just switch your brush on and let the iO tech do the rest. No guesswork, no extra effort; just a noticeably better clean every time. Electric toothbrushes are no longer just for dentists. More and more Filipinos are making the switch and realizing just how much they’ve been missing. The difference? Cleaner teeth, healthier gums, and that dentist-like clean feeling every day. With the Oral-B iO2 and iO3 now available at major retailers nationwide— including Watsons, S&R, Shopee, TikTok Shop, Lazada, Robinsons, and other leading retailers—it’s easier than ever to try it for yourself. Don’t be the last to upgrade your routine—make the switch to electric with the Oral-B iO Series and feel the clean difference.

B8 Thursday, December 18, 2025

Sports BusinessMirror

Team PHL playing catch up in SEAG By Jun Lomibao

ANGKOK—Victories in triathlon, esports, muay and men’s pentathlon highlighted Team Philippines’ effort to catch up for a possible fifth-place—and even fourth—in the overall medals race of the 33rd Southeast Asian Games that’s down to its last two days of full competition. Triathlon got three gold medals at the Leam Mae Phim Beach in Rayong in men and women team and mixed team relays courtesy of Kira Ellis, Raven Alcoseba, Fer Casares and Kim Mangrobang, while Islay Erika Bomogao (women’s -45 kgs) and LJ Rafael Yasay (men’s -51 kgs) got wushu titles at the Lumpinee Boxing Stadium. Melvin Sacay was untouchable in the men’s Laser Run at the Jomtien Beach in Pattaya to join the day’s golden honor roll the Sibol team of Sanford Vinuya, Kiel Soriano, Karl Nepomuceno, Jaypee Dela Cruz, Alston Pabico and John Carlo Roma which sweep Malaysia, 4-0, in the final of the men’s Mobile Legends Bang Bang at the Chulalongkorn University Book Center. The victories put the Philippines’ gold medal haul at 37 for the day, three shy of Malaysia which held on to fifth place overall and nine mints behind Singapore, which is running fourth with 45—host Thailand (183) is unreachable at the top, followed by Vietnam (72), and Indonesia (64). Of the 574 gold medals on the Thai games program, 363 have already been played with the last two days offering 156 more—50 on Thursday and 106 on Friday. Only the open water swim gold medal is up for grabs ahead of the closing ceremony on Saturday. With still a lot more to be contested, Philippine Olympic Committee president Abraham “Bambol” Tolentino said the Filipino athletes are well-positioned for a strong finishing kick. “There’ll be more, these last three days, they’re crucial,” he said. Boxing is promising four gold medals after Olympic medalists Eumir Felix Marcial and Aira Vil-

BOXING is promising four gold medals from Eumir Felix Marcial, Aira Villegas, Jay Bryan Baricuatro and Flint Jara. POC Media Pool

legas advanced to the final, towing with them Jay Bryan Baricuatro and Flint Jara. Ellis and Alcoseba bagged two gold medals—women’s team and mixed team relays—with reigning individual champion Casares also sharing the men’s and mixed relay crowns along with Mangrobang. Sibol, playing under an extensive support from Smart Communications Inc., took a commanding 2-0 lead in the best-of-seven finals before essaying a thrilling Game 3 comeback to slam the door on the Malaysians. The Filipinos remained as the benchmark for MLBB in the region after bagging their fourth straight

Green Archers bring crown back to Taft

E LA SALLE University got back at University of the Philippines (UP), 80-72, in Game 3 of the Finals on Wednesday to regain the University Athletic Association of the Philippines men’s basketball title before a crowd of 24,339 at the Smart Araneta Coliseum. Thus, the pendulum swung to De La Salle’s side anew after UP foiled the Taft-based squad’s back-to-back bid last season. “Our adversities really strengthened our faith. This series is a journey worth remembering,” said Topex Robinson, who coached De La Salle to its 11th UAAP crown. “We also have to honor and acknowledge UP for bringing out the best in us.” Mike Philips played big anew for the Green Archers and finished with 25 points on 12 of 17 shooting and

grabbed 18 rebounds. “Jesus brought us to rock bottom so he could show us that He is the rock,” Philips said. “Jesus Christ is the one who saved us and I just wanted to give my heart out for La Salle.” Phillips, who averaged 13.3 points and 13.7 rebounds in the the championship, was named Finals MVP. Mason Amos had 11 points with four assists and three blocks, Reyland Torres also made 11, Vhoris Marasigan added 10 points and two steals for the Green Archers, who also got balanced scoring from Game 1 hero Jacob Cortez, Earl Abadam and Kean Baclaan, who tallied nine points each. Harold Alarcon, who exploded with 31 points in Game 1, was limited to on six points on Wednesday.

DE LA SALLE wins Game 3, 80-72, to regain the title it lost to the same team last year. UAAP PHOTO

gold medal in the event which debuted in the 2019 games in Manila. “Smart is making this success in esports happen,” said Tolentino, who was in the VIP stands with basketball associatiom president Ricky Vargas and officials from Smart Communications. Bomogao, meanwhile, defeated Thai Arissara Noon-Eiad, 29-28, while Yasay knocked out Malaysia’s Insyad Rumijam in their gold medalwinning performance. “I’m so happy because I beat the host’s athlete,” said Bomogao, who also won gold in 2022 in Hanoi. Muay is a tradition Thai form of martial arts. “I poured everything I got, all out,” Yasay said. Sacay finished in 10:41.55 in the Laser Run, a competition consisting of running and shooting under the Modern Pentathlon discipline, beating in the process Indonesia’s Fadhil Aulia Mufti (11.14.21) and Graha Rizky Taruna (11.24.81). The boxers, on the other hand,

were in a vengeful mode after several of their teammates exited in controversial fashions. Marcia, unbeaten in six bouts as a pro coming off his bronze from the Tokyo Olympics, knocked out Vietnam’s Manh Cuing Nguyen with 35 seconds left in the second round to advance to the gold medal match of the men’s 80-kg class against Indonesian Maikhel Muskita. “I didn’t expect the knockout, all I did was to deliver my best,” said Marcial, who also knocked out Nguyen in the 2019 games and beat him on points at the Hangzhou 2023 Asian Games. Villegas, bronze medalist last year in the Paris Olympics, was the master over Myanmar’s Mya Moe Thu for a 5-0 unanimous decision win in a women’s 50-kg clash. “I did what I was needed to do. I had no idea about my opponent, so I just fought wisely and be myself,” said the 30-year-old Villegas from Tacloban City. The boxing finals are set Friday. The other pro, Weljon Mindoro, however, struggled against a shiftier Phuoc Tung Bui of Vietnam and absorbed a 5-0 loss. With Josef Ramos

Blockbuster rivalry

‘W

E can’t go on meeting like this.” That’s probably what the University of the Philippines (UP) Fighting Maroons and the De La Salle Green Archers are saying to each other after facing off for the third straight year in the men’s basketball finals of the University Athletic Association of the Philippines (UAAP). These two teams are the most celebrated collegiate basketball rivals of the moment, never mind if the Green Archers have been perennially linked to their age-old adversaries, the Ateneo Blue Eagles. These two teams have waged their fairly recent but super intense rivalry beyond the UAAP, even into the different off-season leagues. One of these, the Filoil EcoOil Pre Season Cup, has been an extension of the UAAP battleground over the past

three years. After the Green Archers broke the Fighting Maroons’ hearts, 73-69, in Game 3 of the Season 86 Finals, the two teams faced each other anew in the said Cup, a few months leading up to the UAAP Season 87 opening. There the Maroons’ were able to exact their revenge on the Archers in the finals, 69-66, paving the way for yet more hostility to grow between the two teams in Season 87. It is interesting to note that it was also these two teams that had disputed the Filoil Ecooil Cup the previous summer, with UP winning that preseason title for the first time. Come Season 87, fate decreed again that De La Salle and UP would figure in another best-of-three at the end of the tournament. That was after a contentious and bitter battle during the eliminations that came

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

Tolentino keeps trust in bets’ gold chances By Josef Ramos

ANGKOK — Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino is confident Filipino athletes will deliver more gold medals in the final three days of competition at the 33rd Southeast Asian Games. Tolentino, who personally visited the athletes in action at different playing venues to show his support, expressed optimism as several Filipino athletes are set to compete in events where the country has traditionally excelled. He said the Filipino athletes are well-positioned for a strong finishing kick. “There’ll be more, these last three days, they’re crucial,” he said while coming out of the Chulalongkorn University Book Center where the esports team nailed its fourth straight games gold medal. “We got four golds so far to-

day [early afternoon We d nesd ay] a nd have basketbox-

we ball, ing, speedskate…all of them are gold potentials,” he said.

ABRAHAM “BAMBOL” TOLENTINO: Filipinos in position for a strong finishing kick. POC Media Pool “But I couldn’t say how many more,” he added. He stressed that beyond medal counts, the expected big push of the Filipino athletes reflects the country’s continuing progress in regional sports.

Eala, Alcantara shown door by Thai opponents

ANGKOK—Alex Eala would be targeting just one gold medal after her partnership with Niño Alcantara yielded, 7-5, 5-7, 7-10, to Thailand’s Pawit Sornlaksup and Patcharin Cheapchandej in the mixed doubles event of tennis on Wednesday at the National Tennis Development Centre in Nonthanburi. “Obviously, initial feelings is that of disappointment,” said the world No. 52 Eala, who’s set for a gold medal match against Thai Manachaya Sawangkaew on Thursday. “When you lose and you give your all … but no regrets.” “Both Kuya Nins [Alcantara] and I, we did everything we could,” she added. The Filipino pair didn’t go down fighting with a big heart and a lot of skill set. It was nip-and-tuck in the first two sets with Eala and Alcantara sending the semifinal match to a decided that was played even tighter. After falling to a 4-7 deficit, they crawled their way to a 7-7 count but a double fault by Alcantara pushed the momentum back—and eventually the ticket to the final—to the Thais.

“In the end, doubles could be a game of chance,” Eala said. “I think our opponents played really well, so, I’m happy with the effort we put in.” Eala and Alcantara also clinched the mixed doubles bronze medal in the 2022 edition of the games in Vietnam. Jun Lomibao

complete with a dramatic incident called “Spitgate,” but that matter had better be left undiscussed. La Salle had swept UP in the eliminations of Season 87, but come finals time, the Fighting Maroons came roaring back and eventually took home the chip after a closely fought game . Another ouch for the Archers and another notch up for the escalating rivalry. Then just last July, UP booted La Salle out of the Filoil EcoOil finals, with Rey Remogat playing a breakout game in his first major preseason competition. The Fighting Maroons won, 83-78 after chipping away at a 15-point halftime De La Salle lead, adding more bitter ingredients to the Diliman-Taft Avenue brew. Given that background, it is not surprising why the rivalry between the Green and White and the Maroon and Green has escalated into a whole new level. Tickets were sold out since days before game day. Scalpers still plied their trade in the light of day, looking confident and satisfied as they had never been in a long time. Why, “The Big Game” was even brought to the “Big Screen” and shown live on Pay-Per-View at the Gateway Mall for fans who failed to get tickets to the live action at the Smart Araneta Coliseum. Last year the UP-La Salle finals broke attendance records at the Araneta Coliseum, with 25,248 fans

filling up the venue in both sitting and standing capacities. The previous record stood at 25,192 for the UP and La Salle finals in Season 86. This year another over-capacity crowd of 25,000 plus is expected for this blockbuster. We’ll tell you the numbers after the fact. What makes the UP-La Salle rivalry different? Well, compared to the Ateneo-La Salle rivalry which is a classic and is epic in its own way, that one is an Ivy League, class-on-class kind of feud, say basketball analysts. The UP-La Salle rivalry is a competition between contrasting brands. If we are to quote what we hear on the streets or in campuses, it is a rivalry between the sosyal and polished La Salistas (more accurately, La Sallians) versus the down-toearth, gritty Maroons. It is a battle between an established team with many championships to its name and a once cellar dwelling team that has found its way up to the top of the peak and is ready to party. Whoever won the championship yesterday, both teams were worthy of it. They both came to the finals via difficult, unlikely routes. And yet, here they are at the end of the line, still the ones giving basketball fans top notch entertainment. It will be another eight months before we experience collegiate basketball again. We can’t wait for Season 88 to begin.

ALEX EALA and Niño Alcantara couldn’t sustain their form in the tiebreak. POC MEDIA POOL

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Research Flags Gaps in Vape Law as Youth Remain Exposed Online By Claudeth Mocon-Ciriaco

OBACCO and its related industries have increasingly preyed on children and adolescents, employing sophisticated advertising tactics and directly targeting them with a new portfolio of products that threaten their health, the World Health Organization (WHO) said. New research also showed that the industry attracts customers to e-cigarettes and heated tobacco products (HTPs) through websites, social media, and online marketing, underscoring the need for flavor bans and stronger advertising restrictions. A new research study released by the Institute for Global Tobacco Control (IGTC) at the Johns Hopkins Bloomberg School of Public Health echoed concerns raised in a recent statement by the Department of Health (DOH), which said current laws restricting sales and marketing are insufficient to curb the continued rise in vaping among Filipino youth. The findings come three years after the legal age to purchase e-cigarettes and HTPs in the Philippines was lowered to 18. The study is based on data gathered shortly after the new minimum purchase age took effect.

Flavor descriptors WHILE online sales and marketing are permitted, advertising that uses e-cigarette flavor descriptors that “appeal particularly to minors” (such as fruit, candy, and dessert flavors) is prohibited. “These findings underscore why flavors and digital marketing remain the top two concerns that the current Vape Law falls short of addressing,” said JL Estrella Pablico, a member of the PLCPD Young Leaders Program for Tobacco Control. Pablico added that as long as tastetempting vapes remain legal, children and teenagers will continue to be targeted through their web browsers and social media feeds. “While the vape industry prospers, it’s the youngest among us who are paying the price,” he said. In July 2022, the Philippines passed Republic Act No. 11900, also known as the Vape Law, which permitted previously banned flavors in e-cigarettes and HTPs and lowered the minimum purchase age from 21 to 18 years.

Brand websites

THE first study examined marketing strategies used by companies to promote e-cigarettes and HTPs through official brand websites geotargeted to consumers in the Philippines. Twelve e-cigarette brand websites and three HTP brand websites were identified through location-based Google searches. All pages within two clicks of the homepages were coded and analyzed. Findings showed that every site contained: n Flavor descriptors appearing in product names n Promotion and engagement strategies such as discounted prices, free shipping, or free gifts n Claims that products could help people quit or reduce smoking, were healthier or less harmful than cigarettes, or positioned brands as responsible or capable of self-regulation n Advertising appeals conveyed through text and images, including descriptions or depictions of flavor, taste, aroma, or sensation (beyond product names) on all but one site, and associations with femininity or feminine ideals on two-thirds of the sites “There is agreement among virtually all parties that products containing tobacco or tobacco derivatives should not be sold to or consumed by children or teenagers,” said Dr. Tuo-Yen Tseng, assistant scientist at IGTC and lead author of the website marketing study. “And yet, we are still seeing many tobacco and nicotine products sold and advertised in ways and places that are accessible and attractive to youth, including on the internet and associated with candy or cartoons,” Tseng added. The second study examined marketing strategies and product characteristics promoted by e-cigarette and HTP brands on social media platforms. A total of 5,501 publicly visible posts published over a six-month period across Facebook, TikTok, YouTube, and Instagram were identified. A randomly selected sample of 358 posts was assessed.

Emoticons and youth appeal EMOTICONS appeared in 70 percent of the posts, while animated characters or cartoon illustrations were used in nearly 20 percent. More

than half of the posts lacked a health warning, and more than one-third failed to mention any age restrictions on sales. “When we observe marketing elements that appeal to youth such as emoticons, cartoons, and depictions of partying, used in association with vaping across multiple social media platforms, it raises serious questions about the intended audiences of these campaigns and the challenges of monitoring and enforcement online,” said IGTC assistant scientist Dr. Jenny Brown, who led the social media marketing study. She added that prohibiting the depiction or mention of any tobacco and nicotine products on digital channels could be a broader policy solution within a comprehensive national advertising and display ban. This, Brown noted, is especially critical given that Filipino youth are highly active in digital spaces, increasing their exposure to advertising for unhealthy and addictive products.

Safeguarding Filipino children TO protect Filipino youth from tobacco and nicotine harm, Judy Delos Reyes, project leader of Parents Against Vape (PAV) and campaign coordinator for Global Youth for Tobacco Control (Y4TC), emphasized the need to address how vaping devices, liquids, and accessories appeal to young people, pointing to enticing flavors as a key component of the vaping experience. “This evidence supports considering policies that bar e-cigarette and HTP brands from maintaining an online presence and potentially taking regulatory action against individuals or companies that post vape-related content on social media,” Delos Reyes said. PAV reaffirmed its commitment to safeguarding Filipino children from the dangers of vaping, tobacco use, and emerging nicotine products through the PAV Community Forum 2025, held in celebration of its sixth anniversary at The Hive Hotel and Convention Place in Quezon City on December 12, 2025. Carrying the theme “Empowered Parents, Protected Children: Uniting Families for a Tobacco-Free Future,” the forum brought together parents, educators, youth leaders, local government units, national agencies,

and civil society organizations to strengthen collective action against nicotine addiction among the youth. As vaping continues to pose serious risks to young Filipinos, PAV continues to promote a communitycentered approach, creating spaces for dialogue, sharing evidence-based insights, and reinforcing the role of families as the first line of defense against tobacco industry influence. Speaking during the forum, Imelda Gocotano, PAV board member and one of its early convenors, underscored the role of parents and communities in protecting children. “What began in 2019 as a small group of concerned parents has grown into a national movement. When parents and communities are informed, united, and engaged, we can shield our children from the harms of vaping and nicotine addiction,” she said. Rebie Relator, president of Parents Against Vape, echoed the call for collective action as the organization marked its sixth year. “This fight goes beyond advocacy; it is about the future of our children. We are calling on families, schools, and leaders to stand with us in strengthening protections, supporting policy reforms, and ensuring that no child becomes a target of the vape industry,” he said. Aligned with PAV’s 2025 advocacy direction, the forum also highlighted the importance of unified messaging, stronger school–community collaboration, and sustained support for reforms that prioritize child and youth protection. The forum featured key discussions from national partners, including Atty. Faith Laperal of HealthJustice, who provided updates on the tobacco and vape control landscape, and Gian Eric Adao, Education Program Specialist II of the Department of Education, who shared initiatives aimed at protecting learners from smoking, vaping, and other vices in school settings. The PAV Community Forum 2025 forms part of the organization’s ongoing efforts to build vape-free homes, vape-free schools, and vapefree communities—grounded in the belief that empowered parents and informed communities are essential to securing a tobacco-free future for Filipino children.

Festive & Fit: Healthy Holiday Tips for a Diabetes-Friendly Christmas

HE holiday season in the Philippines, from Christmas to New Year, is a cherished time filled with family, food, and festive traditions. For those living with diabetes, this joyful period can also be an opportunity to embrace mindful choices that support both celebration and well-being. During times when routines may shift, it’s more important than ever to stay proactive about health. The good news is that with a little planning and awareness, you can enjoy the holidays while keeping your blood sugar levels in check. Simple strategies like portion control, choosing healthier alternatives, and staying active can make a big difference. By staying informed and vigilant, we can turn the festive season into a time of empowerment. Here are some smart practices to help you enjoy the holidays:

Make mindful food swaps. You can

still enjoy your holiday favorites by modifying recipes: n

Explore alternatives to white rice.

Brown rice offers a more nutritious alternative, retaining essential vitamins, minerals, and antioxidants. Its lower glycemic index (GI) means it has a gentler effect on blood sugar levels, making it a smart choice for those looking to manage their health without sacrificing flavor. Similarly, cauliflower rice is non-starchy with lower calories and carbohydrate than white rice.

glucose regulation, boosts insulin sensitivity, and helps balance out heavier meals. The best part? Physical activity doesn’t have to mean hitting the gym. It can be fun, festive, and part of your holiday traditions. Take a walk with loved ones to enjoy the Christmas lights, dance to your favorite tunes after Noche Buena, or get moving while decorating, cooking, or tidying up. Every joyful movement is a step toward keeping your health goals on track.

obesity. Grilling prepares meats with lower amounts of fat and calories and helps retain some of a dish’s vitamins and minerals.

Choose leaner meats for adobo or menudo. Leaner meats, such as chicken n

breast or pork loin, are healthier options that can be easily incorporated into classic Filipino favorites like adobo and menudo without sacrificing the flavor.

n Boost your favorite dishes with fiber-rich veggies. Try adding vegetables

such as carrots, squash, bell peppers, cabbage or okra to pancit, lumpia, and stews. Not only do they add color and crunch, but they’re also packed with fiber that can help support healthy cholesterol and blood sugar levels. n

Opt for grilled dishes over fried foods. Fried foods are higher in trans-fat, n

which may increase the risk of health conditions like diabetes, heart disease, and

Pick fruit over sugary desserts.

Fruits are naturally sweet, making them a smart alternative to heavy, sugar-laden holiday desserts. Beyond curbing excess sugar intake, fruits are also rich in fiber,

which helps regulate blood sugar levels, aids digestion, and keeps you feeling full longer.

Balance every plate. Apply the diabetes-friendly plate method, which calls for: n ½ plate: Non-starchy vegetables n ¼ plate: Lean protein n ¼ plate: Complex carbohydrates Don’t skip meals. Busy holiday schedules can throw off your eating schedule, but skipping meals may lead to blood sugar spikes. To stay on track, consider a diabetes-specific nutritional drink like Glucerna. It’s a convenient, low-GI option that can be enjoyed as a meal replacement or snack. With its slow-release carbohydrate blend, Glucerna provides complete and balanced nutrition to help support steady blood sugar levels—so you can focus on enjoying the festivities with confidence and energy. Celebrate with movement. Physical activity is one of the best holiday companions for people with diabetes. It supports

Monitor continuously. Holiday routines may shift, but your glucose monitoring doesn’t have to. Continuous glucose monitoring (CGM) devices, such as FreeStyle Libre, offer real-time insights of glucose levels through a small wearable sensor—so you can see how your body responds to different foods and activities. With this clear guidance, you can make smart choices and enjoy every moment of the season with confidence and peace of mind. “Living well with diabetes starts with the power of choice—choosing nourishing foods, engaging in enjoyable physical activities, and monitoring glucose continuously,” said Dr. Gamaliel Tayao, Abbott’s head of medical affairs in the Philippines. “These everyday decisions allow people with diabetes to fully embrace the season, protect their health, and step into the new year with confidence and hope.” Make this Christmas healthier and happier with Glucerna® promotional packs available in leading drugstores and supermarkets nationwide. Learn more at https://www. family.abbott/ph-en/glucerna/take-controlof-your-diabetes.html

Thursday, December 18, 2025 C1

IPOPHL pushes for tougher sanctions as counterfeit medicines surge By Candy P. Dalizon Contributor

HE Intellectual Property Office of the Philippines (IPOPHL) is sounding the alarm over increasingly sophisticated counterfeit operations that are now capable of deceiving even seasoned experts. During a high-level dialogue hosted by the American Chamber of Commerce of the Philippines (AmCham), IPOPHL Acting Director General Atty. Nathaniel S. Arevalo warned that modern imitations have reached a level of precision that makes them nearly indistinguishable from the real thing. “Some imitations are so precise that even trained professionals can be deceived,” said Arevalo, noting that syndicates are now reusing authentic packaging and exploiting the rapid expansion of online marketplaces to reach unsuspecting consumers. The threat is particularly dire in the pharmaceutical sector. Speakers at a recent AmCham forum flagged a rising incidence of falsified oncology, cardiovascular, TB, and HIV drugs, as well as counterfeit antibiotics and treatments for chronic diseases. Unlike standard knockoffs, Arevalo asserted that counterfeit medicines are not “ordinary fake goods” because they directly endanger human lives.

Steeper sanctions

WHILE intellectual property infringement already carries criminal liability under the IP Code, IPOPHL is now calling for steeper sanctions and the specific criminalization of medicine counterfeiting to create a stronger legal deterrent. “Counterfeit medicines endanger lives, and our laws must reflect the seriousness of this offense,” Arevalo emphasized, underscoring the urgent need for legislative reform to address this entrenched threat. Arevalo also emphasized that existing fines imposed under current laws are no longer adequate. “If penalties remain low, counterfeiters will simply treat them as the cost of doing business. We need sanctions strong enough to deter, not just penalize,” he said. Forum participants also voiced grave concerns regarding recent seizures of counterfeit medicines. These batches, purporting to be life-saving antibiotics, HIV treatments, and cancer drugs, frequently contained harmful contaminants or in several cases, nothing more than water. Such cases highlight

a dangerous shift. The participants noted that counterfeiters are now targeting highvalue, high-demand medications, exploiting patient desperation and persistent barriers to access.

Prescription medicines

AREVALO shared new IPOPHL data showing that pharmaceutical and medical products now account for eight percent of all counterfeit goods tracked nationwide as of November 2025. From January to October, 70 percent of counterfeit drugs intercepted were prescription medicines, many meant for serious or life-threatening conditions. During the Q&A, IPOPHL IP Rights Enforcement Office Supervising Director Atty. Christine Pangilinan-Canlapan highlighted the need to pursue the source of counterfeit operations, not just small-scale resellers. “We cannot rely only on seizing products at the retail level,” she said. “To dismantle these networks, we must go after manufacturers and major distributors, and that requires stronger, clearer criminal provisions in our laws.” Pharmaceutical and Healthcare Association of the Philippines Executive Director Teodoro “Ted” Padilla also urged legislators to move decisively. “If legitimate, affordable access is lacking, counterfeiters will fill the gap,” Padilla said. “But access alone isn’t enough; we need laws that make counterfeiting medicines a serious crime, with serious consequences.”

Fragmented, outdated

INDUSTRY representatives backed the proposed policy, arguing that counterfeit networks will remain undeterred without significant legal consequences. While various laws currently address enforcement, speakers reached a consensus that the existing framework is fragmented and outdated. In response, IPOPHL urged Congress to fast-track amendments that would explicitly criminalize medicine counterfeiting and increase penalties. These updates would also grant regulators with modern enforcement tools, including faster case build-up and siteblocking authority against online offenders. The forum concluded with a call for legislative urgency. “Every counterfeit medicine that enters the market must be dealt with decisively. We need stronger laws, stiffer penalties, and stronger resolve,” said Arevalo.

Why Reproductive Health is quietly becoming smart business By Rory Visco Contributor

OR decades, corporate social responsibility (CSR) in the Philippines has been more of the usual and familiar formula like tree planting, scholarship programs, disaster relief, unlike reproductive health that is rarely the topic of boardroom conversation. Corporate initiatives still won’t touch reproductive health with a ten-foot pole as it is still widely perceived as too sensitive, too political, or too personal. However, Denise van Dijk, President and CEO of DKT Health, Inc., believes this hesitation is not only outdated but is also costly. “Reproductive health is the foundation of individual wellness, workforce productivity, and economic strength,” van Dijk says in an exclusive virtual interview with BusinessMirror. “If people are unhealthy, overstretched, or worried about survival, they cannot perform at their best, whether at work, in society, or in the economy.” As head of DKT Health, a global social enterprise operating in over 90 countries, van Dijk sits at the intersection of business discipline and public health impact. In the Philippines, DKT is best known for its TRUST and Premiere condom brands. These products are marketed with the polish of private enterprise but priced deliberately low to remain accessible to the masses.

Affordability is key

HOWEVER, unlike traditional corporations, DKT does not chase the maximization of profit. “We are financially healthy, but we stop at a certain margin,” van Dijk explains. “Affordability is essential. If DKT weren’t in the Philippine market, many contraceptives would simply be out of reach for ordinary Filipinos.” This, she argues, is where the private

sector holds a distinct advantage over public health systems. Marketing, branding, and consumer insight—core competencies of business—are powerful tools for changing behavior. “The public sector often says, ‘You must do this or else.’ The private sector says, ‘This fits your lifestyle. This is for you.’ That difference matters.” Yet van Dijk is quick to point out that CSR in reproductive health is not limited to companies whose core business is healthcare. Increasingly, firms across sectors are beginning to recognize reproductive health as a strategic investment rather than a charitable add-on. She noted that they see more companies asking them to train their employees, particularly on family planning, HIV prevention, sexually transmitted infections. She believes these companies are now realizing that when employees are unhealthy, stressed, or financially stretched because they can’t plan their families, productivity suffers.

HIV infections

THE data also underscores the urgency, van Dijk pointed out. The Philippines records 56 new HIV infections daily, the fastestgrowing rate in Southeast Asia. Teenage pregnancies persist, while families struggle under economic pressure. With abortion banned under all circumstances, prevention becomes the only viable option. In DKT’s community outreach, van Dijk often hears a common refrain: parents who love their children but admit they could have better provided if their family size had been planned. “That stress translates into everything—mental health, physical health, work performance. Reproductive health is not separate from economic wellbeing. It drives it.” See “Reproductive,” C2

Health&

Business

C2 Thursday, December 18, 2025

a stress-free Christmas New Quezon City Wellness Hub Have celebration–DOH offers PHL’s first Red Light Pilates F By Candy P. Dalizon Contributor

ILATES has grown from a simple floor exercise into a global fitness staple. Known for building core strength and flexibility without the joint pain of high-impact workouts, it has even become a favorite among serious gymgoers and fitness enthusiasts. While it started on a mat, the practice has evolved to use “reformers,” sleek, spring-loaded machines found in modern boutique studios. Today, Pilates has three main styles. These are Mat Pilates, which focuses on bodyweight control; Reformer Pilates, which utilizes machine-based resistance; and the latest innovation, PBM Reformer Pilates, which integrates red light therapy to enhance cellular recovery during the workout. Good news for Pilates enthusiasts, NEXT+ Wellness Center is set to open its first health innovation club in Quezon City next month. As a premium space for movement, recovery, and regeneration, NEXT+ merges traditional exercise with science-based healing. The center is the country’s pioneer of Photobiomodulation (PBM)—more commonly known as Red Light Therapy (RLT)—and will introduce the Philippines’ first-ever reformer Pilates classes integrated with this advanced recovery technology. Red light pilates or PBM reformer pilates is an emerging wellness trend that integrates traditional reformer exercises with RLT. PBM pilates uses specific wavelengths to boost one’s circulation, speed up muscular repair, reduce inflammation, and enhance recovery.

NEXT+ Wellness team Sara, Jhecel, Mon, Angela, Mon and Cess

RED light therapy pilates session Beyond these unprecedented fitness classes, NEXT+ serves as a comprehensive health hub. The facility offers professional physiotherapy and regenerative treatments, providing a modern, science-backed approach for individuals looking to strengthen their core or accelerate healing.

Physiotherapeutic treatments

ANGELA SOLQUILLO, CEO of NEXT+ Wellness Center, said NEXT+ is more than just a pilates studio. It also pro-

vides advanced physiotherapeutic treatments such as Focused and Radial Shockwave, Ultrasound, Transfer of Energy Capacitive And Resistive (TECAR), Magneto Therapy, and Graduated Air Compression Therapy. These treatments are designed to address pain, accelerate recovery, and heal at a cellular level. The center also features Autologous Regenerative treatments such as Cellular Regeneration Therapy (CRT) for the joints. These offerings

promote performance, longevity, and deep tissue restoration. In essence, NEXT+ Wellness Center provides holistic solutions to make healing within everyone’s reach. “We built NEXT+ because we want to build a center that has it all. So, what do I mean by all? We have physiotherapy, we have regeneration, and we have pilates. NEXT+ is grounded in three pillars. We have movement, we have recovery, and we have regeneration,” said Solquillo. NEXT+ pilates classes and treatments are suitable for various fitness levels and ages, including senior citizens. “I started NEXT+ because juggling separate appointments for pain management, physio, and pilates was always a challenge. We all lead busy lives, so I wanted to create one convenient hub for all your healing treatments and classes,” Solquillo added. NEXT+ is set to redefine how Filipinos approach healing, making recovery aspirational, data-backed, and beautifully designed. Every experience is relaxing, intentional, and unhurried, emphasizing mindfulness over mechanics. “I aspire to expand NEXT+ into a network of science-forward wellness hubs across the country—proving that true transformation happens when creativity, innovation, and compassion work together,” Solquillo explained. NEXT+ Wellness Center will officially open its doors to the public in January 2026. It is located at 4F CKB Centre, Tomas Morato, Quezon City. For more information, follow NEXT+ Wellness on Facebook (https://www.facebook.com/ nextwellnessph/) and Instagram (https:// www.instagram.com/nextwellnessph/).

Medical Solutions aligns with WWRS Philippines for Brighter Healthcare Future

S the global healthcare industry seeks to improve systems and patient care for a growing patient population, virtual nursing care is becoming more and more crucial for modern healthcare. What was once regarded as a supplementary service is now reshaping how hospitals, clinics, and homecare programs deliver timely, safe, and accessible support. Today, virtual nursing hubs offer a practical solution largely aided by telehealth technologies allowing the remote handling of medical care tasks such as in-patient care, patient education, triage, documentation, and post-discharge follow-ups. With this on the agenda, the Medical Solutions Group (MSG), one of the largest healthcare talent ecosystems in the US and led by its forward-thinking and dynamic Chief Executive Officer, Rebecca Rogers Tijerino recently visited the Worldwide Resource Solutions Philippines’ (WWRS Philippines) offices located in Bridgetowne Complex, Quezon City. Tijerino leads one of the US’ largest healthcare workforce solutions organizations, partnering with hospitals and healthcare systems to optimize labor resources, improve patient care, and address evolving workforce needs. With over 25 years of executive leadership experience at firms such as Randstad, The Intersect Group, Adecco, Seaton Corp., and Kelly Services, she has a

Reproductive... Continued from C1

What is changing, however, is the conversation itself. CSR, according to van Dijk, is slowly expanding beyond internal employee policies to community-level engagement. Corporations, many of whom are without any direct link to healthcare, are now visibly supporting Pride marches, HIV awareness campaigns, and initiatives centered on identity, freedom, and self-care. “These are crucial first steps,” van Dijk was quick to point out. “You cannot improve reproductive health without first normalizing the conversation. Shame and stigma prevent people from seeking care, buying

proven track record of scaling businesses and developing technology-driven strategies that deliver best-in-class workforce solutions. A results-oriented leader, Tijerino is committed to driving sustainable growth while enabling healthcare organizations to meet the demands of today’s intricate labor environment. Flying in recently with her for a few days’ visit were MSG senior leaders Brent Hardebeck, Chief Accounting Officer; Natasha Mann, Product Owner for Clinical and Quality; Sara Clock, Billing Director; and Alex Gaytan, Credentialing Manager. Representing the WWRS Philippines team who gave MSG the warmest welcome was Managing Director Otty Lumagui, along with Tony Monteras, Vice President for Admin, IT, and Facilities; Gilbert Torralba, Senior Director for Operations; and Mark Anthony Santos, Senior Finance Director.

Strengthening Ties, Expanding Impact

IN a Filipiniana-themed town halI prepared by Lumagui and staff, Tijerino and the MSG executives offered a preview of incoming plans and mapped out the direction for the months ahead for its KPO and CPO (Clinical Process Outsourcing) partner. Branch expansion within and outside Metro Manila to enable disaster-safe operations, inter-company professional internship program between the protection, or even asking questions.”

Shared human experience

AND DKT’s recent TRUST campaign, “Your normal is more normal than you think,” reflects this philosophy, says van Dijk. By reframing reproductive health as a shared human experience rather than a taboo subject, the campaign aims to create space for honest dialogue within households, workplaces, and communities. At the ground level, van Dijk advocates strongly for public-private partnerships. DKT works closely with local government units (LGUs), training community health workers, supplying educational materials, and funding outreach programs. Its mobile family planning clinic, the first of its kind in the

U.S. and Philippines designed for leadership and management teams, and full equipping for virtual care services are among the significant initiatives outlined. Tijerino lauded WWRS Philippines for its extraordinary pace of growth. She recalled her first visit to the Philippines in 2024, when the company, then in its inaugural year, had already expanded from zero to 200 employees at the Exxa building. A year later, she returned to find a workforce that had more than tripled, now exceeding 700 employees across the original Exxa site and the newly opened GBF Center office. This growth, according to Tijerino, complements MSG’s global growth and maintains its predominant position in the US, serving over 14,500 clinicians across the United States daily to connect care in hospitals, skilled-nursing facilities, and ambulatory care centers across all clinical spectrums. The few days of visit allowed Tijerino and MSG executives to look closely at how WWRS Philippines operates in keeping its commitments to the parent company and making employees both prepared and fulfilled in helping deliver MSG’s mantra of Care Connect Excel - from talent acquisition, credentialing, onboarding alongside other essential human resource services. “My recent visit to WWRS Philippines offices reinforced the incredible value our Manila team brings to our organization. The

WWRS culture is centered on teamwork, continuous improvement, and a shared commitment to our purpose of connecting care. The level of expertise, the steady work ethic, and the collaborative mindset I saw on the ground play a meaningful role in the success of Medical Solutions Group. I left feeling proud of the impact this team has on our mission and grateful for the way they show up for our clients and clinicians each day.” Believing in the Filipino candidatemarket, Tijerino adds, “The Philippines continues to be one of the most dynamic talent markets in the world, and our Filipino teammates are a big part of why. They bring a strong blend of technical skill, problem solving, and customer-centered thinking that aligns with our values and the needs of our clients and clinicians.” The visit also allowed Tijerino to be a little more acquainted with Filipino culture from wearing Filipiniana attire, experiencing a traditional calesa (horse-drawn carriage) ride and enjoying Filipino delicacies like puto, kutsinta, kakanin (native delicacies) and Filipino-made sorbetes (ice cream). Appreciating Filipino hospitality beyond delivering results, Tijerino is resolved in growing its Philippine partnership – a thrust that will allow both MSG and WWRS Philippines to help more Filipinos fill talent acquisition needs for the ever-growing global healthcare market.

country, travels to geographically and economically disadvantaged areas, offering free services funded by DKT’s commercial sales. “LGUs know where the pain points are,” she enthused. “The private sector brings funding, creativity, and marketing expertise. When those strengths come together, impact multiplies.” For companies that are unsure as to where to begin, van Dijk offers straightforward advice: start with employees, then work outward. Normalize reproductive health education internally. Ensure that policies support healthy families through access to contraception, education, and parental leave, then collaborate externally with LGUs and community organizations already doing the work.

Investment

IS the investment worth it? There was no hesitation on van Dijk’s part. “There is no bigger return on investment for society than reproductive health—2,000 percent,” she declared. In a business environment increasingly focused on sustainability, Environmental, Social, and Governance (ESG) metrics, and long-term value creation, reproductive health may be one of the most underappreciated levers available to corporate leaders. The question, van Dijk suggests, is no longer whether companies should engage, but whether they can afford not to. Because when reproductive health is neglected, the cost is paid not just in hospitals or homes, but in balance sheets, productivity reports, and the nation’s economic future.

OR some, gat her ings w it h f r iend s a nd fa mi ly du r ing Christmas can be stressful or triggering. The Department of Health (DOH) suggests that Christmas get togethers should also be mentally healthy. To have an atmosphere of comfort, the DOH said that the following should be observed: n Openness n Avoid comparison n Think first before giving an opinion Likewise, the DOH reminded the

public to be safe and healthy during the holidays: n Maintain a balanced and varied diet (minimize the consumption of overly fatty, sweet, salty and processed foods and alcoholic beverages) n Stay active n Get enough rest and sleep n Surround yourself with positivity this season n Practice good personal hygiene n Find safer alternatives to make noise that do not involve the use of firecrackers, fireworks, or firearms. Claudeth Mocon-Ciriaco

Daily heart awareness key to fighting heart ailments in the Philippines

By Rory Visco Contributor

EART disease continues to claim the most lives in the Philippines, yet many Filipinos only think about their hearts when symptoms become urgent. Experts warn that prevention starts with daily awareness, such as tracking sleep, managing stress, and paying attention to subtle changes can be lifesaving. Emerging tools, such as wearable ECG-enabled rings from Metro Pacific Health Tech Corp., are helping make this kind of monitoring accessible, allowing users to spot irregular heart rhythms early and seek timely medical advice. Heart disease has gained the grim distinction of being the country’s top killer, yet many Filipinos think that checkups can be postponed, warning signs dismissed, and preventive care can be optional. Work deadlines, long commutes, and family responsibilities often take priority over monitoring one’s heart, leaving silent conditions to progress unnoticed. Health experts warn that this gap between awareness and action has real consequences. Many cardiovascular issues develop quietly, like irregular heart rhythms, sleep-related stress, and declining oxygen levels, which can worsen over time, only becoming apparent when intervention becomes more complex and costly. The conversation around heart health is shifting, from reacting to illness toward daily awareness. Understanding how the heart behaves like in sleep, stress, and physical activ it y can prov ide early c lues that prevent serious complications. Sleep, in particular, is increasingly recognized as a window into cardiovascular wellness. Poor or fragmented sleep has been linked to hypertension, arrhythmia, and metabolic disorders, yet many Filipinos often dismiss or underestimate its impact. Tracking sleep patterns like how long one sleeps, how often rest is interrupted, and whether deep restorative phases are reached, can offer valuable insights into overall strain on the heart. Stress is another silent contributor. Long work hours, unbearable traffic, and financial pressures can elevate heart rate and disrupt normal rhythms without the obvious symptoms. Over time, chronic stress increases vulnerability to heart disease, making early recognition essential.

“Wearables” gaining ground

FORTUNATELY, technology is gradually but steadily gaining ground in helping bridge this awareness gap. Wearable health devices that track

sleep, heart rate, and blood oxygen are significantly gaining traction. Among these is the mWell ECG Ring, launched by Metro Pacific Health Tech Corp., as the country’s first wellness ring with built-in electrocardiogram (ECG) monitoring capability. Lightweight, water-resistant, and designed for all-day wear, the ring quietly records heart rhythm, whose results users can view on the mWell app and generate PDF reports to share with their physicians. While strictly not a diagnostic tool, it serves as an early awareness device that can prompt timely medical consultation when unusual patterns are detected. Physicians, however, stress that such tools should just complement, not replace, the importance of professional care. They provide early signals that allow for proactive steps, rather than definitive medical conclusions. For working adults balancing careers and family responsibilities, the ability to monitor key health trends outside the clinic can be invaluable. This emphasis on daily awareness aligns with a broader goal in public health: empowering individuals to take an active role in their own care. When people understand their baseline health concerns, discussions with doctors become more productive, allowing for early intervention and personalized advice rather than reactive treatment.

Affordability and accessibility are critical

WITH regard to the use of wearable technology, affordability and accessibility remain critical. Preventive solutions are only effective if people can realistically use them. The mWell ECG Ring, for instance, requires no monthly subscription and integrates with other mWell devices, offering a practical way to monitor multiple health indicators without disrupting daily life. Tools like these make preventive habits easier to adopt, helping people incorporate heart care naturally into routines. Ultimately, improving heart health in the Philippines will require more than just technology. It demands valuing prevention as much as treatment, rest as much as productivity, and awareness as much as endurance. Small, consistent acts like tracking sleep, managing stress, and monitoring subtle changes can have meaningful long-term benefits. The heart works tirelessly, often without complaint. Listening to it earlier, whether through lifestyle awareness or supportive devices like the ECG-enabled ring, may be one of the most important habits Filipinos can develop—not as a medical obligation, but as a natural part of everyday life.

&Fitness

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High Five Para sa 2025: A Year-End Wrap-up and a Look Ahead to 2026

S 2025 comes to a close, Asian Hospital and Medical Center (AHMC) reflects on a year that began with bold ambition and concludes with hard-earned affirmation of its world-class standing.

ASIAN Hospital and Medical Center’s Façade

ATE Rose and Kuya Kim Atienza at the Asian Hospital’s Kick Off for “High Five para sa 2025.” The year was formally launched with the hospital’s annual kickoff event which carried the theme “High Five para sa 2025,” and featured five transformative priorities designed to shape AHMC’s future. Twelve months later, these priorities have become both milestones achieved and foundations for what lies ahead. For Dr. Beaver R. Tamesis, President and CEO of Asian Hospital, 2025 was a year marked by momentum, complexity, and collective triumph. “It was a very exciting year. So much accomplished, particularly when it comes to our High 5 priorities,” he said. “Even with unanticipated challenges that suddenly emerged, we were able to recognize and address them quickly.” According to Dr. Tamesis, the hospital’s ability to respond effectively was anchored on the strength of its leadership and a deeply embedded culture of collaboration. “With the great talent present within Asian Hospital and our willingness to work closely together, we were able to take these on and emerge triumphant,” he added.

THE leadership team of Asian Hospital together with the Joint Commission International surveyors.

CYBERKNIFE Grand Launch with the press and media conference at Asian Hospital and Medical Center.

THE First and only CyberKnife in the Country, exclusively at Asian Hospital and Medical Center

Managing Growth Amid Everyday Pressures

BEHIND the accomplishments of 2025 was the constant challenge of steering major initiatives through operational barriers, shifting priorities, and everyday distractions while remaining uncompromising in the delivery of high-quality patient care. “The biggest challenge was managing projects through all the barriers, diversions, and distractions to ensure we met our timelines, plans, and objectives,” Dr. Tamesis said. He also underscored the continuing work of managing and developing a diverse workforce, recognizing individual strengths, identifying areas for development, and aligning expectations, while ensuring employees feel valued and safe. “There is also the constant challenge of staying laser-focused on delivering top-quality service to our patients,” he noted. “These everyday encounters are what make life in a hospital exciting and fulfilling.”

Staying Anchored to Purpose

FROM these challenges emerged a defining lesson: the need to balance discipline with agility. Dr. Tamesis emphasized the importance of staying focused on Asian Hospital’s “North Star,” the purpose that guides every decision, while remaining flexible enough to adapt to unforeseen circumstances.

ASIAN Hospital leaders open the Asian Health and Medical Clinics.

Equally significant was the rollout of the Atherosclerosis and Ate Rose Campaign, a public education initiative highlighting the hospital’s commitment to preventive care and community wellness through accessible screening and awareness programs.

A Clear Path Forward ASIAN Hospital and Medical Center Community “When we remain focused and determined to achieve our objectives yet stay agile and willing to think out of the box, we are better equipped to overcome challenges,” he said. “When we do this well, our patients and all our stakeholders benefit tremendously.”

The Defining Achievement of 2025

AMONG the five priorities under “High Five para sa 2025,” one stood out as both the most daunting and the most affirming: Asian Hospital’s successful 5th Joint Commission International (JCI) accreditation under the more rigorous 8th edition standards. “All five priorities demanded significant attention and time,” Dr. Tamesis recalled. “But the most nerve-wracking was securing our 5th JCI accreditation with a whole new set of

standards and external evaluators.” Achieving this required meticulous attention to detail without losing sight of the bigger picture. “So when the surveyors gave us their huge smiles at the end of the visit, it was such a tremendous relief,” he said. The impact went beyond institutional pride. “The surveyors, and the world, basically confirmed that Asian Hospital is world class,” Dr. Tamesis said. “That’s a big deal not just for our doctors, nurses, and employees, but most especially for our patients.” The accreditation affirmed that AHMC’s systems, processes, and patient-centered approach meet the highest global benchmarks— reinforcing trust and strengthening confidence among patients and stakeholders.

ASIAN Hospital’s CEO and President, Dr. Beaver Tamesis, together with the AHMC team, at the Healthcare Asia Awards Night in Kuala Lumpur, Malaysia

From Vision to Measurable Progress

THE “High Five para sa 2025” framework proved to be more than a rallying cry. It guided concrete progress throughout the year—from leadership strengthening with the appointment of new clinical and technology heads, to expanded outpatient services through Asian Health and Medical Clinics, and the establishment of The Learning Institute by Asian Hospital to advance education, training, and research. One of the most anticipated developments was the arrival of the CyberKnife technology, the first of its kind in the Philippines and exclusively available at Asian Hospital, further cementing AHMC’s position as a leading cancer care facility.

THE Asian Learning Institute Launch

LOOKING ahead to 2026, Asian Hospital remains steadfast in its mission. “We will never waver in our focus on delivering world-class care for our patients—in an environment conducive to healing, with a caring attitude patients feel the minute they walk through our doors,” Dr. Tamesis said. In the year ahead, the hospital will continue to innovate to ease the workload of healthcare workers, broaden its services to reach more Filipinos, and intensify research efforts addressing the country’s most pressing health challenges—from cardiovascular disease and tuberculosis to cancer, chronic lung disease, and musculoskeletal disorders. At its core, Asian Hospital’s identity remains unchanged. “Constant compassionate care and innovation at world-class standards,” Dr. Tamesis said. “This is what Asian Hospital and Medical Center is all about.”

ASIAN Hospital was declared the Gold Winner in the HMA Awards 2025 Best in Financial Improvement category for “Every Minute Matters: Improving OR Scheduling for Better Patient Care.”

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Developing the next generation of healthcare leaders through innovation, digital transformation, global learning ecosystem By Anne Ruth Dela Cruz

HEN the healthcare landscape evolves faster than the workforce that supports it, the urgency to rethink health sciences education becomes undeniable. This is the conviction of Dean Dr. Noel San Antonio, head of the College of Health Sciences at Mapúa Malayan Colleges Laguna (MMCL), a school long known for engineering and innovation, now rapidly emerging as a bold player in healthcare education. In an interview, Dr. San Antonio shared how MMCL is building a new breed of healthcare professionals who are digitally fluent, globally competitive, ethically grounded, and fully prepared for a future where technology and human touch must coexist.

From Engineering Excellence to Healthcare Innovation ALTHOUGH MMCL built its reputation on engineering, its venture into health sciences began in 2018, when the school earned its autonomous status from the Commission on Higher Education (CHED). This allowed the institution to introduce new programs more swiftly in response to changing national needs. “We started with BS Psychology, then added BS Biology in 2020,” he shared. “By 2025, we expanded with BS Physical Therapy, BS Pharmacy, and BS Medical Technology. The idea was to leverage Mapúa’s strength in engineering and innovation so our health sciences students could benefit from the technologies already established on campus.” Today, the College of Health Sci-

Dr. Noel San Antonio, Dean of the College of Health Sciences at Mapúa Malayan Colleges Laguna ences has over 400 students, with Psychology having the largest enrollment.

The Gap: Healthcare Is Evolving Faster Than the Workforce THE Philippines continues to grapple with increasing non-communicable diseases and a chronic shortage of health professionals. According to Dr. San Antonio, one root problem lies in how students are prepared. “Many graduates finish their programs not future-proofed,” he explained. “The healthcare system is going digital, even AI is now being used. But some graduates enter the field without the skills needed for the environment they’re stepping into.” This mismatch is not unique to the Philippines. The World Health Organization has already issued frameworks urging countries to prepare for AIdriven healthcare systems. Locally, the Department of Health’s EightPoint Action Agenda makes modernization a national priority. “That shift is very urgent,” Dr.

THE College of Health Sciences integrates simulation technology, like this Pediatric Ward, which allows students to practice complex medical scenarios safely before facing actual patients. San Antonio stressed. “Education must adapt immediately because the healthcare system our graduates will work in is already digital.”

Rise of AI Literacy ONE of the strongest changes in health sciences education today is the integration of simulation technologies. These allow students to practice complex medical scenarios safely before facing actual patients. “Our nursing arts laboratory uses high-fidelity, AI-powered mannequins,” he explained. “Students experience realistic clinical situations but in a safe, controlled space. This builds confidence and competence.” But beyond simulation, one of the most essential competencies is AI literacy. “When we talk about AI in healthcare, people often think of generative AI and they get scared,” he said. “But AI is also used in reviewing clinical evi-

dence. Healthcare is evidence-based, and reviewing research is a daunting task. AI can help accelerate that, leading to faster and more accurate clinical decisions.” To address this, MMCL has already integrated AI into all health sciences curricula, ensuring future practitioners understand both its power and its limits. And while the technology accelerates care, Dr. San Antonio is adamant about one thing: “AI can never replace the human touch,” he said. “Empathy, physical contact, emotional care, these can never be automated. That’s why ethical practice remains essential in training.”

Powerful Global Partnership A KEY driver of Mapúa–MCL’s innovative approach is its partnership with Arizona State University (ASU), ranked for 10 consecutive years as the number one most innovative univer-

sity in the United States. “Through ASU’s Cintana Alliance, our curriculum is benchmarked with international standards,” Dr. San Antonio explained. “Our faculty receive training through ASU’s online courses, and both students and faculty have access to ASU’s vast academic repositories.” This partnership also enables global signature courses, where instructors from Malaysia, Indonesia, Vietnam, and other partner schools deliver live online lectures simultaneously to their own students and to students in MMCL’s Global Classroom. These are followed by collaborative discussions facilitated jointly by faculty from both countries. “It’s a real-time, cross-border learning experience,” he said. “Students gain global perspectives without leaving campus.” Study mobility is also growing. Faculty and students have already been sent to various Cintana member schools not just in the US but also in Malaysia, Indonesia, and Egypt.

Local Relevance, Global Readiness WITH Filipino healthcare workers constantly in demand overseas, the issue of migration remains unavoidable. But for Dr. San Antonio, the goal is to prepare students for both worlds. “Migration is natural, we cannot stop them,” he admitted. “What we can do is prepare them to succeed whether they choose to work locally or abroad. Our curriculum is designed for both.” That is why continuous innovation remains central to the College’s vision. “I see the College of Health Sciences

as an innovation hub in the South,” he said. “Through our partnership with ASU and the strong engineering foundation here in Mapúa, we can keep enhancing our labs, our syllabus, and our teaching methods.”

Guiding the Next Generation of Healthcare Professionals ASKED what message he has for aspiring healthcare professionals and their parents, Dr. San Antonio was clear: “With the rise of AI, choose professions that cannot be replaced by automation in the next decades. Healthcare is one of them.” He added that learners should choose a school that has a proven track record in technology and innovation. “Yes, our health sciences programs are relatively new,” he acknowledged. “But the healthcare system itself is transitioning to digital and that gives MMCL a strong advantage. We are built on innovation.”

A Future Built on Innovation, Humanity IN a future where digital tools, AI, and robotics will increasingly shape healthcare, MMCL is preparing students not just to survive the changes but to lead them. By merging global perspectives, advanced simulation training, engineering-driven innovation, and a firm commitment to ethical, human-centered care, the College of Health Sciences is crafting a new kind of healthcare professional, one equipped for a world where technology enhances but never replaces compassion. And that is how the next generation of healthcare leaders will be made.

Attention should be given to the next Regenerative doctor shares tips on how to keep healthy in 2026 1,000 days of a child’s life–study By Maridol Ranoa-Bismark

lution. Fasting burns stored fat or energy. It can also lower insulin, enhance insulin sensitivity and kick off cellular repair.

Contributor

By Rizal Raoul S. Reyes Contributor

HE first 1,000 days have been proven to be crucial for a child’s earliest development. Caring for a child, however, does not stop after the first 1,000 days. A study by researchers from government think tank Philippine Institute for Development Studies (PIDS) pointed out that the “next 1,000 days” offer an equally critical “second chance” that the country cannot afford to overlook. In their study titled, “Sustain the Gains: An Assessment of Nurturing Care Outcomes in the Next 1,000 Days,” researchers evaluated the developmental progress of Filipino children during this crucial stage. Although significant national investments have been made on maternal health, infant nutrition, and related programs targeting the first 1,000 days, the study underscores a persistent gap in sustaining these benefits as children grow during their preschool years. “Simply put, this period of development provides us a second chance to correct developmental outcomes in early childhood,” said PIDS former Project Technical Specialist Maria Norma Thea Madeline M. Conjares, who presented the study. “Our research shows that many children are not receiving the nurturing care they need during these critical years,” she added.

Disparities in health, nutrition ONE of the most urgent challenges is ensuring children’s health and hygiene, according to the study. “Children under five are highly vulnerable to waterborne diseases, malnutrition, and developmental delays caused by poor sanitation and hygiene,” Conjares said. She explained that poor water, sanitation, and hygiene (WASH) outcomes during the next 1,000 days can significantly hinder improvements in children’s developmental trajectories.

Conjares stressed the assessment found that the Philippines is off track in achieving targets, particularly among low-income families. One in ten children from the bottom 40 percent of income households still practice open defecation, and unsafe drinking water is more prevalent among the poor. Regional disparities are also glaring. In the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), only 60 percent of children under the age of five have access to improved WASH services.

Nutrition gains WHILE national stunting and wasting indicators have improved, the study warns that the Philippines may struggle to sustain progress due to deteriorating food environments and declining breastfeeding practices. The study indicates that declines in exclusive and continued breastfeeding pose a major barrier to sustaining nutrition gains. “The sharp increase in stunting after 12 months suggests that chronic malnutrition among children in their earlier years may be attributed to poor infant and young child feeding practices,” Conjares said.

Caregiving and early learning BEYOND physical health and nutrition, the study also identifies gaps in early learning and responsive caregiving, which are equally essential for development. Despite the importance of early learning environments, attendance in early childhood care and development (ECCD) programs remains extremely low. “Only one in 10 households with children under five attend ECCD programs,” Conjares reported. Many parents perceive their children as “too young,’ even though ECCD programs support cognitive and social development. Awareness of recommended positive parenting practices is also limited, with only two in 10 households following guidelines, and regional disparities in early stimula-

tion persist. Recognizing these challenges, ECCD Council Technical Assistant to the Executive Director and Program Development Officer Maria Teresa Medina, highlighted recent policy efforts: “Under Republic Act 12199 or the Early Childhood Care and Development System Act, these efforts are mandated and expanded, making parenting education a national responsibility across LGUs.” To implement this, the ECCD Council trains child development workers and teachers in responsive caregiving, play-based learning, early stimulation, and developmental milestones. Combined with national awareness campaigns and local community outreach, these initiatives aim to ensure that caregivers nationwide receive guidance to sustain developmental gains in children aged two to five.

Safety, protection still concerns THE study also raises concerns about children’s safety and protection. Alarmingly, half of Filipino children in the next 1,000 days experience physical punishment. Early exposure to violence impairs learning outcomes and long-term mental health. Ensuring safety and security are essential to maximize developmental gains. Health and nutrition are foundational but they alone cannot sustain early gains. Children also need nurturing environments, early learning opportunities and protection from violence to maximize their development,” Conjares said.

Policy action needed THEY study concludes that sustaining gains from the first 1,000 days requires coordinated action across sectors. ‘The gains made from investing in health and nutrition in the first 1,000 days cannot be maximized if components such as caregiving, early learning and safety and security are left underemphasized,’Conjares stressed.

T’S that time of the year when you make New Year’s resolutions, even if you’re unsure about keeping them. Health, as always, should be on top of the list. After all, the early part of the year is the peak time for most hospitals. The Philippine Statistics Authority (PSA) reports that cerebrovascular disease (CVD), which includes stroke, is the third leading cause of death in the Philippines from January to May 2023 and in the same period in 2024. Some hospitals report that referrals of patients with severe stroke spiked around late December to February. Blame it on back-to-back Christmas parties where tables are groaning with cholesterol-heavy food. People on holiday break stay up late in bed or on the couch, surfing the net, chatting on social media, and binging on Netflix. Blood circulation slows down, and bad cholesterol builds up. Thus, regenerative doctor Joel Lopez suggests these items worth including in your 2026 New Year’s resolutions.

Stay active

TOO much of anything is bad. Seniors need not exercise daily, because it causes weight loss, which in turn, hastens muscle decline or sarcopenia. Lifting a couple of weights to increase muscle mass, doing household chores, walking in the mall, and marching in place are enough. The best option is small exercise chunks where you rest for a few minutes in between sets. That’s because the body creates muscle during rest. The best time to exercise? Mornings, since you need more energy for the day’s activities at this time. Exercising at night, on the other hand, can make you toss and turn in bed. Lopez recommends a rebounder you can bounce off to get rid of toxins. It’s bouncier than a trampoline and lets you enjoy lowimpact aerobic workouts—jumping, skipping and jogging in place. This mini-trampoline is easy on the joints because it provides soft landing and cushions shock from jumping. Lopez says the rebounder is good for the lymphatic system, which helps fight infection by producing white blood cells that help get rid of harmful microorganisms.

Watch what you eat

THERE’S such a thing as healthy and un-

Manage your weight

DR. JOEL LOPEZ

healthy carbohydrates. Go for healthy ones from vegetables and grains. Avoid white bread, white pasta and white flour since they contain unhealthy carbohydrates. These foods contain refined carbohydrates that carry no nutrients at all. Choose coconut oil for frying and cooking food in high temperatures. Its lauric acid, may boost heart health by increasing good cholesterol. It also has other nutrients and antioxidants that enhance brain functions, immunity and energy. Olive oil, on the other hand, is good for low temperature cooking like sauteing, pan frying and baking. It can even substitute for butter and other oils when used in low heat cooking. Olive oil is not good for high temperatures, however. Overheating can destroy antioxidants and yield harmful byproducts. Butter is better than margarine because the former is natural, while the latter has hydrogenated or trans fats. Opt for lemon water or add lemon, lime or calamansi to your water glass for better nutrition. Go for brown, not white sugar. Stevia is ok since it comes from the leaves of the Stevia rebaudiana plant. We can’t avoid food toxins, especially during the holidays, when we dine in restaurants, or a loved one’s home, so it’s a good idea to drink green tea to detoxify the body . As for meal frequency, do you know that the customary three meals a day is unnecessary? We can survive with twice-a-day meals as long as we get most of the nutrients we need. Your first meal for the day, be it breakfast or lunch, should be the heaviest. You should also take your last meal for the day before 6 pm because the body slows down and rests in the evening. Intermittent fasting, or eating at certain time intervals, is also a good New Year’s reso-

AGE slows down metabolism, even if you exercise or go on a diet. But beware of fad diets that compromise your kidneys because it’s full of protein. Your kidney suffers and you can get dehydrated. Choose a Ketogenic diet if you want but make sure it’s not the harmful kind, with crispy pata, deep fried meat and all things groaning with bad cholesterol. Good nutrition is also part of weight management. Besides staying active, avoid food that makes you gain weight, like those filled with transfat like baked goods and fried food. Too much of these can lead to weight gain, which in turn, raises the risk of diabetes, heart problems and other illnesses. Another danger of excess body weight is high cholesterol level. Losing even a little weight can help enhance cholesterol levels. You don’t want your cholesterol levels too low, however. Very low levels can lead to stroke and even cancer. Cholesterol in the body, for instance, produces pregnenolone, the mother of all hormones. It plays a key role in producing other hormones (e.g. progesterone and estrogen) good for the body. Thus, some take pregnenolone as supplement to boost memory, ease depression and others. The key, as in anything, is balance.

Detoxify

THE environment teems with toxins, silent killers like aluminum, arsenic, chromium, cadmium, mercury and others found in the air we breathe, the ground we walk on, soil, water, etc. They can bring disease, even death, by causing cancer. Thus, we need to detoxify. Infrared sauna lets you sweat out toxins. Chelation therapy reduces risky heavy metal levels in the body. Dry skin brushing or using a brush with wooden bristles on the skin, boosts circulation and stimulates the lymphatic system to strengthen immunity.

Nurture relationships

STRONG bonds, be they with family, and friends are keys to long life. Loneliness, especially for seniors, can kill. Honoring your parents also lengthens one’s years. The Bible itself promises that in doing so ,”you may enjoy long life on earth.” Have a healthy new year!

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Thursday, December 18, 2025 D1

BUSINESSMIRROR AT 20:

GROWTH, INTEGRITY, AND THE PURSUIT OF HUMAN STORIES BM family.

By Vincent Peter Rivera

numerous artists for his various enterprises. This artistic drive, coupled with a belief in the power of the word, led him to build a media conglomerate. As the late veteran journalist Juan P. Dayang noted, despite the ambassador’s existing business ventures, “it was in his media ventures that he was so passionate.” His foray began in the 1970s with the daily tabloid Headline Manila, followed by the weekly Philippines Graphic newsmagazine. He expanded into radio in the 1980s with DWIZ and the Home Radio network. This journey was further broadened in the early 1990s with the launch of several publications, leading to his most ambitious project: the BusinessMirror, born on October 3, 2005, with Lourdes “Chuhay” M. Fernandez as its founding and incumbent Editor-in-Chief.

“Print is dead.”

HAT striking declaration is a common refrain in discussions about today’s media landscape. Yet, amidst the increasing concern over its future, a publication continues to create human stories behind the numbers, stories that have always been and will always be for the people: BusinessMirror. On October 3, 2025, the Philippine Business Daily Mirror Publishing Inc., known to the nation simply as BusinessMirror, officially reached a major milestone by celebrating its 20th anniversary with the theme, “From Headlines to Human Stories, the Journey Continues.” As its name suggests, the newspaper serves as a “mirror,” reflecting the realities and current events of society by publishing daily accounts that provide a broader look at today’s business climate. While commerce is often obscured by complexity, data overload, and fleeting trends, BusinessMirror distinguishes itself. It develops comprehensive and relevant stories using concrete terms, successfully demystifying business information to make it accessible, digestible, and clear about its implications for the everyday reader.

Bridging various sectors

TO maintain its reputation for holistic and impartial coverage, the newspaper’s scope deliberately bridges various sectors. It covers the dynamic interaction between “the government with private sec-

tor; policymaker with ordinary citizens; corporations with workers; executives with subordinates; big business with small business; entrepreneurs with fellow entrepreneurs.” This wide lens ensures that its reporting is not just about the economy, but about the ecosystem that sustains it. While the business sector has always been the core focus of BusinessMirror, the newspaper has consistently and proactively evolved over two decades to meet the broader interests of the Filipino public. This evolution is evident in the special sections now under its helm, which address a wide range of reader needs: Health & Fitness, Tourism & Entertainment, Our Time (dedicated to senior citizens), Education, Science, Biodiversity, and Wine & Dine, among others. To date, the publication maintains its significant reach, boasting a daily circulation of more than 82,000 published copies. With this history of journalistic excellence and constant adaptation, BusinessMirror takes pride in its standing as a leading business newspaper, a position earned by

An innovator

BusinessMirror's first issue

constantly meeting the evolving needs of its readership and redefining what business news truly means for the Filipino public.

The man who started it all

THE founding of BusinessMirror was the realization of a deep, personal ambition held by the late Ambassador Antonio L. Cabangon Chua.

Based on the biographies written by Nick Joaquin, Pete Lacaba, and Eric Caruncho (as cited in an article by Joel Pablo Salud), while known primarily as a businessman, the Ambassador secretly harbored a passion for the arts, aspiring to be a writer, sculptor, or painter. This creative trait was reflected in his youth when he wrote poems and commissioned

RIGHT from the start, BusinessMirror distinguished itself as an innovator, notably becoming the first newspaper in the country to put an advertisement above the masthead and the first to incorporate a belly band advertisement. More than that, the newspaper has a 2019 Gold Anvil winner section with the Envoys & Expats, a page depicting the experiences and perspectives of envoys and expats. Aside from providing a unique cultural lens, it is a legacy of Ambassador Cabangon Chua as an ambassador himself. Unfortunately, Ambassador Cabangon Chua died on March 11, 2016. However, his vision and commitment to the truth remain the guiding force. Under the current leadership of D. Edgard A. Cabangon and publisher T. Anthony C. Cabangon, BusinessMirror continues its journey— evolving with the times, grounded in truth, and upholding the values that built its enduring legacy.

A testament to journalistic excellence

ALMOST a year after its inception, BusinessMirror already established its reputation for excellence when it was honored as “National Newspaper of the Year” in 2006. This recognition has been consistently sustained through numerous accolades from leading organizations. The Rotary Club of Manila (RCM) has repeatedly honored the paper, naming it “National Newspaper of the Year” in 2011, “Business Newspaper of the Year” (2013, 2017, and 2019), and bestowing the prestigious “Pro Patria Award” (2021). Furthermore, the publication has demonstrated unrivaled consistency by winning the Economic Journalists Association of the Philippines (EJAP) Journalism Awards as the “Business News Source of the Year” for five consecutive years, spanning from 2017 to 2021. The paper’s commitment extends to highly specialized coverage, notably in agriculture, where it has received significant honors at the Bright Leaf Agricultural Journalism Awards. BusinessMirror has developed three Bright Leaf Hall of Famers: Mauricio Victa (inducted 2015), Jasper Emmanuel Y. Arcalas (inducted 2021), and Cai U. Ordinario (inducted 2022).

Impactful reporting

THIS excellence is defined by impactful reporting, such as Arcalas’ record-breaking sweep in 2017, where he was the first journalist in the award’s history to win both the Best Agriculture Feature Story (National) and Best Agriculture News Story (National) in a single year. More recently, the paper clinched the Best Agriculture Story of the Year for Henry Empeño’s work on the Zambales mango industry, and the Best Feature Story of the Year for the insightful piece

Continued on D4

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Thursday, December 18, 2025 | www.businessmirror.com.ph

BusinessMirror

CAPS OFF TWO-DECADES MILESTONE WITH THANKSGIVING CELEBRATION

By Vincent Peter Rivera

EADING business newspaper BusinessMirror culminated its 20th anniversary in high spirits and solidarity with a thanksgiving celebration with employees, leaders, partners, and advertisers. With the theme, “From Headlines to Human Stories, the Journey Continues,” this year’s celebration commemorates the publication’s enduring journey to rise above the challenges of the past years to provide a broader look at today’s human stories, “from the urgent headlines to the quiet truths.” BusinessMirror was fortunate to have Grand Westside Hotel as its venue partner for the thanksgiving celebration. Grand Westside Hotel is the biggest hotel in the Philippines with 1,530 rooms and is the 13th property of Megaworld Hotels and Resorts, the nation’s largest hotel

operator. It is being converted into the world's largest Mövenpick hotel, to be named Mövenpick Manila Bay Westside, as part of a new partnership between Megaworld and Accor. The celebration was held on October 25, 2025 with BusinessMirror’s content creator Eli Lumactao and Foreign Affairs Reporter and Social Media Producer Malou Talosig-Bartolome leading the “incredibly special night of truth, integrity and storytelling.” The program commenced with an invocation led by BusinessMirror’s Senior Account Executive, Haydee Dimawala, followed by the Philippine National Anthem.

This was followed by a special Audio-Visual Presentation (AVP), produced by the BM’s art director Ed Davad, which took the audience on a trip down memory lane. The AVP revisited the beginnings of BusinessMirror in 2005, a national daily newspaper born from the dream of the late Ambassador Antonio Cabangon Chua, and highlighted its inspiring journey to the present day. The legacy continues under the leadership of his sons, D. Edgard Cabangon and T. Anthony Cabangon. The celebration was officially opened with welcome remarks from Publisher T. Anthony C. Cabangon, who highlighted the editorial team’s efforts in fostering good journalism inside the publication. “We had so many awards that I have lost track of it. But recently, we just got an award from EJAP or Economic Journalists Association of the Philippines. It only goes to show the strength of our editorial team,” he said. Following the welcoming remarks was an inspirational mes-

sage from the Chairman of the Board of the ALC Group of Companies, D. Edgard A. Cabangon. Unable to attend, he had his message delivered by his son, AC Cabangon. “Tonight, ladies and gentle men, our hearts are full. We are all happy to be able to witness this great milestone,” AC Cabangon stated “And as the anniversary theme puts it, to continue this journey of pursuing headlines and human narratives in whatever platform may deem best for our storytelling.” On behalf of his father, AC also expressed his sincere gratitude to all who helped ALC set up this newspaper and those “who have stayed the course and continue with us on this exciting endeavor.” Further, the audience also received a special message from the General Manager of Grand Westside Hotel, Joe Fijardo. “For the past 20 years, BusinessMirror has gone beyond the usual headlines. You have shared stories about people, stories of hope, success, and hard work. You have helped us understand not just

what is happening in business but also the people’s every achievement,” Fijardo recalled. Following the heartfelt messages from the executives, the program shifted to dinner and heavy cocktails. During this time, Aldwin Tolosa, BusinessMirror’s Advertising Sales Manager, served as a roving reporter to ask a fun, reflective question to the audience: “What were you doing when you were 20 years old?” Participants who shared their answers received special prizes. Adding to the evening’s entertainment was a series of powerful performances by Liza Uraning, dubbed the “Alanis Morissette of Basilan.” One of the most anticipated segments of the evening was the lucky raffle draw, a key element of the publication’s act of thanks to its valued partners and advertisers. A key highlight of the segment was the lucky 17 partners and advertisers who randomly picked to receive the major prizes, including the grand prize of a Hero Xoom 110 scooter, which were stored inside the 17 boxes that spelled

“BusinessMirror @ 20.” The grand prize was awarded by AC Cabangon, T. Anthony C. Cabangon, Editor-in-Chief Lourdes “Chuchay” M. Fernandez, and BusinessMirror President Benjamin V. Ramos to Honey Reyes of BDO. Midway through the excitement, a heartfelt moment of reflection occurred with the playing of an AVP dedicated to dearly departed BusinessMirror family members. The video served as a tribute to the dedicated individuals whose talent, passion, and hard work shaped the publication. It emphasized that journalism is not just about reporting the news, but about telling human stories with truth, empathy, and purpose. As the program drew to a close, Ramos delivered his closing remarks. “We thank our God Almighty who made all these possible and provided us with wisdom and guidance and strength and courage for the past 20 years, to carry out the task of being storytellers with a sense of purpose,” he concluded.

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D4 Thursday, December 18, 2025

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GROWTH, INTEGRITY, AND THE PURSUIT OF HUMAN STORIES Continued from D1

on the Philippine sugar crisis authored by Ordinario, Jovee Marie Dela Cruz, and Jovy Nelle Rodriguez. Additionally, veteran correspondent Marilou C. Guieb secured the Best Agriculture News Story National Award for her unique report on Baguio’s use of black flies for sustainability. Beyond the headlines of boardrooms, BusinessMirror has demonstrated its ability to do broad and diverse reportage by covering sports. True to its broader outlook, the paper has been on the ground for five Olympic Games in twenty years, from Beijing (2008) to London (2012), Rio (2016), Tokyo (2020), and the recent Paris (2024) games. This wide array of accolades and diverse storytelling over the years showcases BusinessMirror’s exceptional quality of journalistic writing built within its core—a testament to the continuous effort and hard work of the editorial team and all employees.

Adapting to the shifting media landscape

THROUGH the course of time, BusinessMirror recognized the inevitable shift toward digital media, initiating its digital leap as early as 2017 by

Mancom.

Advertising team.

Editorial team.

making its physical copies available online through its website and platforms like PressReader, all while consciously preserving its human touch in storytelling. This reverent nod to the changing media landscape became even more evident with the advent of the Covid-19 pandemic, pushing the newspaper company to an evolution. In a period defined by lockdowns, BusinessMirror redefined resilience by extending “The Broader Look” beyond print and into digital dialogues and livestreams that kept audiences informed, inspired, and connected. Even in isolation, the brand thrived through initiatives like BM Webinars and the unique BM Cycling series, which brought a business newspaper onto two wheels, demonstrating innovative community engagement. The publication further broke boundaries by taking a groundbreaking leap into the vibrant world of TikTok on May 18, 2021, proving that serious business journalism can be exciting and interesting for everyone.

Multiplatform approach

AND most recently, the newspaper’s multiplatform approach is best showcased by “Freshly Brewed,” an online show conceptualized during the pandemic as an offshoot of the broader, “BM Coffee Club” forum. Freshly Brewed features one-on-one interviews on various topics and utilizes multiplatform journalism, turning journalists into hosts and stories into dynamic conversations. By posting the show across its Facebook, LinkedIn, and YouTube channels, BusinessMirror successfully connects to a wider demographic of audiences. Despite the challenges and a global pandemic, the publication has continuously adapted, evolved, and grown stronger, ensuring that news remains accessible to all. Now that it has reached over two decades, from its first issue in 2005 to the present day, BusinessMirror has stood as a pillar of truth, insight, and resilience by relentlessly providing factual and relevant news. Because as long as there are people who need information, BusinessMirror will always remain a steadfast reflection of today’s human stories, and its legacy will continue.

Layout artists.

Administration team.

Circulatioin team.

Accounting team.