investors wary of governance and corruption issues may have chosen caution over pouring their capital into the Philippines, with foreign direct investment (FDI) inflows into the country continuing to plunge in the 11-month period in 2025.
While economists said the Philippines has not yet completely lost investor interest, they underscored the importance of putting in place improved governance standards and reforms in boosting investor confidence and sentiment.
Data from the Bangko Sentral ng Pilipinas (BSP) showed FDIs fell by 22.1 percent to $7.077 billion in the January to November 2025 period from $9.084 billion in the same period in 2024.
In November 2025 alone, the Philippines secured $897 million in foreign direct investments, 0.33 percent lower than the $900 million FDI inflows in November 2024.
The $897-million FDI inflows posted in November,however, was the highest in four months, BSP data indicated.
According to Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., the numbers are signalling that the drop to $7.08 billion in FDI over 11 months shows “foreign investors turned more cautious in 2025, even though November still delivered the highest inflow in four months at $897 million.”
“That mix suggests the Philippines hasn’t lost investor interest—sentiment just became more selective,” Ravelas said in a Viber message. He said the decline likely reflects global uncertainty, domestic policy noise, and tougher competition from Asean neighbors.
But, Ravelas pointed out, “the November bump signals that when investors see clearer direction and more stability, they begin to re-engage.”
“The actionable takeaway is simple: keep reforms credible, reduce uncertainty, and move faster on execution. If the government sustains that clarity, we could turn that November momentum
By Andrea E. San Juan @andreasanjuan
By Jovee Marie N. Dela Cruz @joveemarie
THE family of former House Speaker Jose C. De Venecia Jr., also known as JDV, announced his passing on Tuesday at the age of 89, honoring a statesman whose more than six decades in public life helped shape modern Philippine governance and elevated the country’s role in global peace initiatives.
“With heavy hearts, our family announces the passing of our beloved husband, father, grandfather, and patriarch,” the De Venecia family said in a statement. “As we mourn his passing, we give
thanks for a life that helped shape the Philippine Republic—and for a legacy that endures in our laws, our institutions, and our continuing pursuit of peace.”
De Venecia served seven terms in the House of Representatives, including five terms as speaker—the longest-serving speaker in the postwar Congress. Over his legislative career, he championed reforms credited with strengthening democratic institutions and expanding economic development. Among the landmark measures he helped author or advance were the Dollar Remittance Program,
THE Bangko Sentral ng Pilipinas (BSP) may adopt a “cautious” wait-and-see stance in its upcoming policy meeting to assess external risks, the movement of the Philippine peso, and the strength of demand before delivering further rate cuts.
“With inflation still within target, growth slowing but not collapsing, and the Philippine peso remaining sensitive to external developments, BSP has reason to assess first how earlier rate cuts are feeding through credit, spending, and investment,” Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera told the BusinessMirror
in a Viber message on Tuesday.
Rivera said a pause would allow the central bank to preserve policy space, manage the volatility of the Philippine peso and avoid “easing too aggressively” while global conditions remain uncertain.
However, the state think tank’s senior research fellow said this may just be the central bank taking a breather as it is expected to keep the option open for further cuts later in the year if “growth momentum stays weak.”
Rivera explained this after the BSP reported that both bank lending and domestic liquidity grew at a slower pace in December 2025.
Rizal Commercial Banking Corporation (RCBC) chief economist Michael L. Ricafort said the 9.2-percent pace of bank lending in December of last year was the
slowest pace in nearly two years or since February 2024 while the 7-percent growth pace of domestic liquidity was the slowest in four months or since August 2025. Rivera said data suggests that “financial conditions are easing, only gradually reflecting cautious borrowing and spending by both firms and households amid lingering uncertainty and softer economic activity.”
However, the PIDS senior research fellow noted that this does not necessarily mean BSP rate cuts are not working, but rather, that monetary policy “operates with a lag and transmission weakens when business confidence and investment appetite are subdued.” With inflation at 2 percent and growth slowing, Rivera told this
Importers must buy palay to get rice import allocations
By Ada Pelonia @adapelonia
THEDepartment of Agriculture (DA) will require importers to purchase palay to secure rice import allocations in the second half of 2026.
Agriculture Secretary Francisco Tiu Laurel Jr. said the passage of the Rice Industry and Consumer Empowerment (RICE) Act will serve as the legal basis for the initiative.
(TWG) composed of representatives from the government and industry stakeholders for data-driven policies.
The TWG will refine a two-layer system to determine the necessary volume of rice imports while also pointing to when and where it should go, down to provincial and regional levels, according to the DA.
can be considered as part of the future allocations,” Tiu Laurel said. He noted that production from the farmer level should also be looked into, including where they sold their harvest, the trader who purchased it, when the paddy rice was milled, and even the market selling it for retail.
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the Ledac has expanded its Common Legislative Agenda (CLA) to 52 priority measures after adopting four additional bills, including a proposal to abolish the travel tax.
House Majority Leader Ferdinand Alexander “Sandro” A. Marcos of Ilocos Norte said the additions raise the total from 48 to 52 and reflect a stronger focus on economic relief, digital accountability, child protection, and political stability.
FDI…
Continued from A1
into a broader recovery,” Ravelas asserted.
BSP data showed nonresidents’
He expressed hope that at least a version of the plan should be implemented in the second half of the year, with an already “solid” system by end-2026.
While the purchase of paddy rice to import ratio was yet to be decided, Tiu Laurel said the agency has created a technical working group
“Technically, this system should self-police everybody and remain transparent. The allocations won’t be subjective,” he told reporters on the sidelines of the induction of the new officers of the Economic Journalists Association (EJAP) on Monday night.
net investments in debt instruments declined by 26.55 percent to $4.780 billion in the January to November 2025 from $6.508 billion. Net investments in debt instruments consist mainly of intercompany borrowing between foreign direct investors and their subsidiaries or
Future import volume and timing will be data-guided, indicating a calibrated system for Luzon, the Visayas, and Mindanao, and eventually priced per province, it added.
The agency hopes that the creation of the TWG will ensure enough imported rice enters the market to temper prices without overwhelming local harvests.
“We’ve already asked stakeholders to record what they purchased locally—palay or rice—since this
affiliates in the Philippines.
The remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries or associates in their resident direct investors, such as reverse instrument. Meanwhile, investments in eq-
“There’s a need to look at the whole distribution system to rationalize it properly and efficiently. We need data-driven decisions, so nothing would be decided out of guesswork,” Tiu Laurel said.
For 2026, the DA chief said the country’s rice arrivals should stand at 3.8 million metric tons (MMT), including the 200,000 metric tons (MT) buffer stock.
If realized, this will be higher than the 3.38 MMT recorded total volume of imports last year.
uity and investment fund shares saw a 10.83-percent decline to $2.297 billion in the January to November 2025 period from $2.576 billion in the same period in 2024.
Nonresidents’ net equity placements other than reinvestment of earnings also plunged by 23.27 percent to $1.144 billion in the 11-month period in 2025, from the $1.491 billion recorded in the same period in 2024.
Reinvestment of earnings went up by 6.18 percent to $1.152 billion from $1.085 billion in the 11-month period in 2024.
Biggest source: South Korea ACCORDING to the BSP, the biggest source of FDIs in November 2025 was South Korea, with most inflows directed to the manufacturing industry during the month.
For the first 11 months of 2025, the central bank noted that equity capital placements were sourced primarily from Japan, the United States, Singapore, and South Korea, and were “channeled largely” into the manufacturing, wholesale and retail trade, and real estate industries.
Michael L. Ricafort, Rizal Commercial Banking Corp.’s (RCBC) chief economist, said the decline in the 11-month FDIs could be pinned on US President Donald Trump’s slapping of higher tariffs on Washington’s trade partners. This slowed down the United States and global economy, especially global trade and investments, amid a “wait-and-see” attitude especially by some exporters for their respective supply chains worldwide.
Ricafort pointed out that the recent political noise in the Philippines also weighed on market and investor sentiment.
As such, he said: “FDIs could improve in 2026 if anti-corruption measures and other reforms related to further improving governance standards are taken seriously, as these are also the basis for the catch-up government spending to make up for the soft patch/underspending in the latter part of 2025 due to the political noises largely attributed to the anomalous flood control projects.”
National Center for Geriatric Health Act; the Waste-to-Energy Bill / Waste Treatment Technology Act; and the creation of the Department of Water Resources Bill. It also covers amendments to the Bank Deposits Secrecy Law/Banking Reform for Integrity, Good Governance, Honesty, and Transparency (BRIGHT) Act; Pantawid Pamilyang Pilipino Program (4Ps) Act; Masustansyang Pagkain Para sa Batang Pilipino Act; Government Assistance to Students and Teachers in Private Education (GASTPE) Act; Anti-Online Sexual Abuse or Exploitation of Children (OSAEC) and Anti-Child Sexual Abuse or Exploitation Materials (CSAEM) Act; Electric Power Industry Reform Act (Epira)—Energy Regulatory Commission (ERC) Strengthening Bill; and the Amendments to the Rice Tariffication Law / Rice Industry and Consumer Empowerment (RICE) Act.
Marcos also wants to fast-track the passage of the Estate Tax Amnesty and the Resetting the First Regular Elections in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Governance reforms REBUILDING public trust through stronger governance is at the core of the Marcos administration’s legislative push, the Department of Economy, Planning, and Development (DepDev) said on Tuesday.
According to DepDev Secretary Arsenio M. Balisacan, the new measures included in LEDAC’s Common Legislative Agenda (CLA) are aimed at improving how government decisions are monitored and implemented.
“By establishing stronger oversight mechanisms over infrastructure spending and advancing real-time transparency in the budget process, the administration continues to drive reforms to make sure every peso spent works for the benefit of the Filipino people,” Balisacan said.
Among the newly added measures are the Anti-Political Dynasty Act and Party-list System Reform Act, which seek to strengthen democratic representation. Also included are bills to “strengthen accountability and fight corruption by empowering independent investigations and removing barriers to uncovering government and financial irregularities.”
The list also aims to expand public access to government spending data and official records.
A significant portion of the agenda focuses on social protection and human capital measures.
Also prioritized are digital safety and public order measures.
Resource and economic sector reforms include the Waste-to-Energy bill, Epira amendments to strengthen the Energy Regulatory Commission, creation of a Department of Water Resources, and proposed changes to the Rice Tariffication Law.
Fiscal relief measures such as the estate tax amnesty and the abolition of the travel tax are also included, as well as the bill resetting the first regular elections in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
“Looking ahead, we see 2026 as our rally point. To regain our stride, we must act decisively to restore public trust through better governance and stronger public service delivery—improvements that Filipinos can see and feel in their daily lives,” Balisacan added.
Since the start of the Marcos administration, 40 Ledac-endorsed measures have been enacted into law—the highest number of priority bills passed since the 10th Congress under the Ramos administration.
Beyond the newly added 21 measures, 31 CLA bills remain pending in the 20th Congress.
Ledac, established under Republic Act 7640, is the President’s advisory body on priority policy and legislative matters to support long-term national development. DepDev has served as its principal secretariat since 1992.
Common legislative agenda
THE House majority leader on Tuesday said
“The Ledac agreed to add four more measures to the agenda, bringing the total to 52. These are bills that respond to urgent and real concerns of the public,” said Marcos after attending the Ledac meeting in Malacañang with President Marcos, Speaker Faustino G. Dy III, Minority Leader Marcelino Libanan of the 4PS Party-list, and House Appropriations Chairperson Mika Suansing. Also present were Senate President Vicente Sotto III, Senate Majority Leader Juan Miguel Zubiri, and Senators Sherwin Gatchalian and Risa Hontiveros.
One of the newly prioritized measures is House Bill 7443, filed by Marcos, which seeks to abolish the travel tax. He described the levy as outdated and counterproductive to tourism growth and economic recovery.
Marcos said the House is prepared to act swiftly on the expanded agenda and maintain momentum on the administration’s legislative program, particularly reforms affecting food security, health care, education, and social protection. He noted that 12 Ledac measures have already passed the third and final reading in the House, including amendments to the Electric Power Industry Reform Act, waste-to-energy legislation, the National Center for Geriatric Health bill, amendments to the Government Assistance to Students and Teachers in Private Education Act, the Assistance to Individuals in Crisis Situations Act, the National Building Code amendments, the Blue Economy Act, the National Reintegration Bill, amendments to the Teachers Professionalization Act, the extension of the estate tax amnesty, the proposed Department of Water Resources, and amendments to the Bank Deposits Secrecy Law. With 40 measures still pending, Marcos said the House will fast-track deliberations on priority bills in agriculture, health, education, and social welfare. Key agriculture measures include amendments to the Rice Tariffication Law, the Fisheries Code, and the Coconut Farmers and Industry Trust Fund Act. On health, lawmakers aim to advance amendments to the Universal Health Care Act. Education priorities include the Classroom-Building Acceleration Program, amendments to the Universal Access to Quality Tertiary Education Act, and revisions to the Local Government Code concerning the special education fund. For social welfare, Marcos cited proposed amendments to the Pantawid Pamilyang Pilipino Program (4Ps) Act and the Masustansyang Pagkain Para sa Batang Pilipino Act. Other pending LEDAC measures in the House pipeline include bills on immigration modernization, land use, the Independent People’s Commission, the Presidential Merit Scholarship Program, single-use plastics excise tax, civil registration reform, disaster risk financing, MSME support, the Right to Information, general tax amnesty, online gambling regulation, cybersecurity, digital payments, artificial intelligence use in elections, anti-political dynasty reforms, and party-list system reform, among others.
Broad support
MEANWHILE, Lakas-Christian Muslim Democrats (Lakas-CMD) lawmakers in the House formally adopted the party’s legislative agenda for the 20th Congress, aiming to pass priority measures through cross-party backing, with at least 150 principal authors per bill.
Party President and Leyte Rep. Martin Romualdez urged unity in advancing President Marcos Jr.’s priorities under Speaker Dy III, aligning efforts with measures endorsed by Ledac. The party pledged close coordination with House leaders, including Majority Leader Marcos, to fast-track legislation. Lakas-CMD said the measures aim to deliver practical relief—lower bills, more affordable food, better health care, and improved quality of life for Filipino families.
DA proposes tariff hike for artificial sweeteners
Tariff Commission (TC).
TBy Ada Pelonia @adapelonia
HE Department of Agriculture (DA) wants to raise tariffs levied on artificial sweeteners to boost demand for locally produced cane sugar.
Agriculture Secretary Francisco Tiu Laurel Jr. said the unregulated entry of artificial sweeteners led to a surge in imports at the expense of the domestic sugar industry.
duties of artificial sweeteners, a move which has been backed by Finance Secretary Frederick Go.
“I discussed the plan with [Secretary Go], and he more or less gave his consent to study and pursue it. So, we’re going to calculate what should be the right tariff rate,” he said.
Despite this, the DA chief noted that the increase in duties should only be high enough for local consumption without deterring its importation.
The agency earlier disclosed the bid to limit the importation and use of artificial sweeteners and other sweeteners, which have dampened demand for locally produced cane sugar. (See: https://businessmirror.com. ph/2026/02/02/govt-wantsto-regulate-importation-ofsugar-substitutes/)
Supply chain attack targets govt organization
“That’s why our estimates for the country’s sugar consumption and requirement were a bit off because [alternative sweeteners] are not regulated,” he added.
Tiu Laurel said the DA and the Sugar Regulatory Administration (SRA) have devised a plan to calculate the necessary increase in
“We noticed that the entry of artificial sugar significantly increased last year [...] by 200,000 metric tons of sugar equivalent,” Tiu Laurel told reporters on the sidelines of the induction of the new officers of the Economic Journalists Association (Ejap) on Monday night.
Govt still interested in F-16s
but...
THE Philippines is not closing its doors on the possibility of acquiring 20 Lockheed Martin F-16 “Fighting Falcons” fighter jets from the United States, Philippine Ambassador to the US Jose Manuel Romualdez said.
At a news conference, Romualdez said the potential purchase “is not within budget,” but talks between the Philippines and the jet’s manufacturer, Lockheed Martin, continue.
“We’re not closing the door, but it will take quite some really imaginative and creative ways to be able to purchase,” he said.
The Philippine government previously submitted a letter of intent to procure 16 F-16C Block 70/72 fighter jets and four F-16D Block 70/72 aircraft from the US
In April, the US Department of State announced that the American government has approved the potential foreign military sale of 20 Lockheed Martin F-16 fighter jets for approximately US$5.58 billion.
In September, Romualdez disclosed that the Philippines has put on hold plans to push through with the acquisition, “mainly because of funding.”
The Philippines is getting at least US$2.5 billion in defense capabilities from 2026 to 2030 after the U.S. Senate approved a bill authorizing fresh foreign military financing (FMF) last December.
But Romualdez said the latest allocation is anticipated to be earmarked “mostly for defense capabilities on the ground, maritime security, and cyber security.”
“So, we just have to wait and see on how we can move forward on that particular item,” he said.
“The increase in tariffs shouldn’t be too high, but it must be tweaked to drive the demand for our locally produced cane sugar.”
Currently, the tariff rates for alternative sweeteners are levied at 1 percent for aspartame, saccharin, and acesulfame, and 3 percent for sucralose and stevia.
Tiu Laurel said the DA will file a petition for increased import duties on artificial sweeteners to the
This, after the SRA received a manifesto from the sugar industry, which urged the government to regulate artificial sweeteners and impose tighter measures on other sugar substitutes.
The concern surrounding artificial sweeteners surfaced in 2024, when the agencies flagged the influx of sugar substitutes as a threat to domestic sugar demand.
Following this, the DA initiated a policy framework to closely monitor the actual importation of sugar substitutes.
SC rules on ‘conjugal’ property situation
of same-sex couples
TBy Lorenz S. Marasigan @lorenzmarasigan
AGOVERNMENT organization was among the confirmed targets of a supply chain attack on Notepad++ that was far more extensive than initially disclosed, according to new findings from Kaspersky’s Global Research and Analysis Team (GReAT).
The cybersecurity company said on Tuesday, its researchers uncovered at least three distinct infection chains—two previously unknown to the public—that operated between July and October 2025.
Each chain used entirely different malicious IP addresses, domain names, execution methods, and payloads, meaning organizations that scanned only for indicators tied to the publicly documented October phase may have missed earlier compromises altogether.
Aside from the Philippine government entity, the attackers also targeted a financial institution in El Salvador, an IT service provider in Vietnam, and individuals in three countries, Kaspersky said.
By Joel R. San Juan @jrsanjuan1573
HE Supreme Court (SC) has ruled that issues about ownership of properties of same-sex couples are governed by Article 148 of the Family Code.
Thus, in a 14-page decision written by Associate Justice Jhosep Lopez, the Court’s Second Division reversed the August 11, 2022 decision and May 24, 2023 resolution issued by the Court of Appeals (CA) which declared Jennifer C. Josef as not a co-owner of the house and lot she shared with her same-sex partner Evalyn Ursua.
The Court granted the complaint for partition of real estate with damages filed by Josef against Ursua and declared the former as owner of 50 percent of the subject property.
It also remanded the case to Branch 87 of the Regional Trial Court in Quezon City for further proceedings and directed it to hear the case with dispatch.
“Considering that there is coownership between petitioner and respondent, then each coowner may demand at any time the partition of the thing owned
in common, insofar as her share is concerned,” the SC declared.
“Having rightful interest over the subject property, petitioner has the right to demand the division of the subject property,” it added.
Based on Court’s records, a year into their relationship, Josef and Ursua purchased a house and lot located at 183 Don Damaso Street, Don Antonio Heights, barangay Holy Spirit, Quezon City.
They agreed to register the property solely in the name of Ursua to easily facilitate bank transactions.
When they separated, they agreed to sell the property and divide the proceeds equally.
Ursua then executed an Acknowledgement of Third-Party Interest in Real Property (Acknowledgement) supposedly acknowledging Josef’s co-ownership over the subject property.
It also expressly recognized that Josef financed and paid 50 percent of the expenses in the acquisition and renovation of the said property.
However, she later refused to sell the property and denied that her former partner was a co-owner.
To protect her interest, the former partner annotated an adverse
claim on the title and demanded partition of the property.
When this failed, she filed a case before the trial court, relying on the Acknowledgement as proof of co-ownership.
The RTC dismissed the case for lack of proof of contribution and even ordered her to pay damages.
The Court of Appeals affirmed the RTC but reversed the award of damages. Both parties appealed to the SC.
In ruling in favor of Josef, the Court took into consideration the Acknowledgement executed by Ursua that Josef had financed and paid for about 50 percent of the expenses for the acquisition of the subject property.
“Thus, given the foregoing, petitioner is a co-owner of the subject property and is entitled to 50 percent share of the said property,” he added.
Furthermore, the Court noted that property regime for void marriages is governed either by Article 147 or 148 of the Family Code on Property Regime of Unions Without Marriage.
Article 147 applies to unmarried couples who may legally marry.
See “SC,” A5
Caap donates trainer planes to Naap
TBy Nonie Reyes
HE Civil Aviation Authority of the Philippines (Caap) on Monday donated two Helio planes to the National Aviation Academy of the Philippines (Naap) in an effort to elevate the standards of local aeronautical training.
The handover was formalized through a signing ceremony at the Caap Central Office, led by CAAP Director General Raul del Rosario, and Naap Officer-in-Charge Maria Sisa dela Cruz.
The addition of these aircraft to the Naap fleet is designed to provide students with critical, hands-on experience. By moving beyond the classroom, the academy aims to sharpen the operational competence and safety instincts of the next generation of Filipino aviators.
“This is more than just a transfer of assets; it is a strategic investment
in the national aviation community, public aviation education, and the future of Philippine aviation,” said dela Cruz during the ceremony.
The initiative aligns with the International Civil Aviation Organization’s (Icao) Next Generation of Aviation Professionals (Ngap) program. It also follows the broader transport directives set by President Marcos and Transportation Secretary Giovanni Lopez to modernize the country’s aviation
infrastructure and human capital. Del Rosario emphasized that CAAP’s mission extends beyond oversight:
n Holistic Growth: Shifting focus from purely regulatory and air traffic services to include grassroots education.
n Workforce Pipeline: Recognizing students as the essential backbone of the industry’s future.
The Notepad++ developers publicly disclosed on February 2 that their update infrastructure had been compromised following a hosting provider incident.
However, previous reporting focused exclusively on malware observed during the October 2025 phase—the “final stage” of what Kaspersky now describes as a “longer, more sophisticated campaign” in which attackers completely overhauled their malware, command-and-control infrastructure, and delivery methods roughly every month.
“Defenders who checked their systems against the publicly known IoCs and found nothing should not assume they’re in the clear,” said Georgy Kucherin, senior security researcher at Kaspersky GReAT.
He added: “The July-September infrastructure was completely different—different IPs, different domains, different file hashes. And given how frequently these attackers rotated their tooling, we cannot rule out the existence of additional, as-yet-undiscovered chains.”
Legislator pushes bill on MSME development
By Jovee Marie N. dela Cruz @joveemarie
ALAWMAKER has urged Congress to expedite the passage of a measure that seeks to generate more jobs and accelerate the growth of micro, small, and medium enterprises (MSMEs) by expanding their access to domestic and global supply chains.
Parañaque Rep. Brian Raymund S. Yamsuan emphasized that empowering MSMEs is key to reducing unemployment, noting that they comprise 99.6 percent of business establishments nationwide and employ 67 percent of the country’s workforce.
Through House Bill 6599, Yamsuan proposes the establishment of a National Supplier Development Program that will provide funding and technical support to MSMEs so they can serve as suppliers of goods and services to large domestic and global corporations.
“Our proposed legislation will help MSMEs widen their market reach and expand their businesses, which, in turn, means hiring more employees,” Yamsuan said.
The Philippine Statistics Authority (PSA) reported last week that the country’s unemployment rate stood at 4.4 percent, or approximately 2.26 million jobless Filipinos, in December 2025. This placed the Philippines’ average unemployment rate for 2025 at
4.2 percent, higher than the 3.8 percent average recorded in 2024.
“Many businesses start small. Some start by selling home-cooked meals, setting up a small bakery, or providing various kinds of services. Many of them have the potential to become big, but they remain confined within their communities and low-value segments of the economy. This is what we want to change,” Yamsuan said. He noted that in his congressional district in Parañaque, entrepreneurship programs implemented in partnership with the Departments of Social Welfare and Development (DSWD) and Labor and Employment (DOLE) have helped many individuals start their own businesses, though challenges in scaling up persist. Yamsuan has also filed measures seeking to institutionalize key livelihood initiatives, including the DSWD’s Sustainable Livelihood Program and DOLE’s Integrated Livelihood (Kabuhayan) Program.
“It is unfortunate that the beneficiaries of these programs and other small business operators find themselves with limited market access. Given the proper skills, training, and technology, large firms can hire our MSMEs instead of procuring imported inputs and relying on foreign suppliers,” Yamsuan said. Under HB 6599, a National
Shipment of ‘marble’ yields ₧278-M shabu
By Reine Juvierre S. Alberto @reine_alberto
THE Bureau of Customs (BOC) and Philippine Drug Enforcement Agency (Pdea), backed by the National Police, seized P278 million worth of methamphetamine hydrochloride or shabu, from Afghanistan at the Manila International Container Port (MICP).
In a joint press briefing on Tuesday, Customs Commissioner Ariel F. Nepomuceno said a total of 131
packages of shabu with an approximate total weight of 41 kilograms were hidden in the false sidings of
Third impeach complaint against Sara now with Speaker’s Office
By Jovee Marie N. dela Cruz @joveemarie
THE Office of the House Secretary General has formally transmitted the third impeachment complaint against Vice President Sara Duterte to the Office of Speaker Faustino G. Dy III, Secretary General Cheloy Garafil confirmed.
Garafil said the transmittal was completed on Monday night in accordance with the Constitution and the Rules of the House of Representatives. She emphasized that the Office of the Secretary General performs a strictly ministerial function in impeachment proceedings, limited to the receipt, verification, and transmission of complaints and their endorsements.
The third complaint was filed by a group of private citizens composed of members of the clergy, civil society leaders, and legal practitioners. It was endorsed by House Deputy Minority Leader Leila de Lima, the nominee of the partylist group Mamamayang Liberal (ML), fulfilling the requirements for transmittal to the Speaker.
The complainants include Fr. Joel Saballa, Fr. Joselito S. Sarabia, Fr. Edilberto J. Baculi, Fr. Rogelio D. del Rosario, Pastor Leonard P.
Arevalo, Pinky L. Tam, Maria Loreto A. Lopez, lawyer Jalilo O. dela Torre, lawyer Democrito C. Barcenas, lawyer Lourdes Barcenas, Sister Maria Liza Ruedas, Sister Violeta B. Cecilio, and Sister Geraldine J. Denoga.
The complaint cites alleged culpable violation of the Constitution, betrayal of public trust, plunder, malversation, bribery, corruption, and other high crimes as grounds for impeachment.
Under House rules, once the Secretary General receives an impeachment complaint, it must be immediately forwarded to the Speaker. The Speaker then has 10 session days to include the complaint in the Order of Business of the House plenary.
After inclusion, the plenary has three session days to refer the complaint to the Committee on Justice for formal review. The committee is required to submit its report to the plenary within 60 session days, with suspended sessions not counted as separate session days.
With all three impeachment complaints now pending at the Office of the Speaker, the House is expected to proceed in accordance with its rules on prioritization, referral, and committee evaluation.
Nartatez warns against hazing
THE National Police (PNP) Chief, Gen. Jose Melencio Nartatez, on Tuesday warned all police units from conducting illegal initiation rites and hazing activities that could endanger the lives of recruits.
Nartatez issued the warning following a hazing incident in Basilan led to the relief of entire Regional Mobile Force Battalion (RMFB) 14-B.
“This should serve as a warning to other police offices and units not to engage in this
kind of activity,” Nartatez said. About 70 RMFB 14-B personnel were relieved after complaints that recruits were physically harmed during alleged welcome rites.
Photos and videos of the incident went viral on social media.
Nartatez said the PNP does not condone hazing and has launched an investigation into the incident, emphasizing that discipline can be instilled without violence. Rex Anthony Naval
a container van.
Nepomuceno said this is the first time that illegal drugs were concealed in false sidings, or steel walls and flooring, of a container van declared as “carrying marble.”
The BOC received intelligence from Pdea on December 2, 2025, about a shipment from Afghanistan suspected to contain dangerous drugs.
The shipment arrived at MICP on December 31, 2025, with no goods declaration filed within the prescribed 15-day reglementary period.
This resulted in the shipment being declared abandoned in accordance with customs rules. The container was subjected to nonintrusive inspection, K9 sniffing and physical examination even prior to abandonment as part
of standard joint enforcement procedures.
An x-ray scan revealed suspicious images in the top rail portion of the container, which further validated the PDEA intelligence and risk assessment.
A 100 percent physical inspection resulted in the recovery of a white powdery substance concealed within the container, later confirmed by PDEA to be shabu.
Interior Secretary Juanito Victor C. Remulla said that the operation is an inter-agency cooperation under a “whole-of-nation” approach.
Remulla said strong enforcement efforts have led to major drug seizures, with nearly three tons seized in a year, which contributed to an 80 percent increase in shabu prices and a 24 percent
drop in crimes. He said around P95.6 billion worth of illegal drugs has been confiscated under the Marcos Administration over the past three years, surpassing the record of past administrations.
“The solution to the drug problem is not killing people. It is these kinds of operations which solves the problem, which lowers crime, which makes the people’s lives better,” Remulla said. “Puwede naman magtrabaho na hindi pinapatay maliliit na tao.”
He emphasized that the administration’s gains were achieved without resorting to violence, citing strengthened enforcement measures. “Ang enforcement ay mas importante kay sa extra-judicial killing. Na ang presyo ng drugs a-akyat at ang crime bababa nang
Bhindi kinakailangan ng EJK,” he added. The Pdea chief, Undersecretary Isagani R. Nerez, said follow-up investigation will be conducted, through the cooperation of the BOC, National Police and Pdea, to identify who are the masterminds behind the shipment.
Nerez added the seizure of such a massive quantity of illegal substances represents not only a major law enforcement success but also a significant social impact.
“By preventing these dangerous substances from reaching communities, the operation has potentially saved countless lives, shielded families from harm, and safeguarded the future of the country’s youth from the threat of addiction,” Nerez said. With Jonathan L. Mayuga
Congressmen seek inclusion of WPS subject in curriculum
By Joel R. San Juan @jrsanjuan1573
AGUIO CITY—Supreme
Court Senior Associate Justice Marvic Leonen on Tuesday said the renewed push for Charter change (Cha-cha) would not fully address the corruption problem in the country.
Speaking before the delegates of the Ombudsman Strategic and Operational Planning (2026-20232), Leonen said that going after corrupt government officials and holding them accountable should, instead, be prioritized.
The Office of the Ombudsman is currently leading the investigation into the multi-billion corruption in the country’s flood control projects involving key government officials, senators, congressmen and private contractors.
“At present, the idea of Charter change is being floated in response to corruption. However, this is not the full solution,” Leonen said.
“I say for corruption, Charter change is tangential. We must
remember that even if Charter change occurs or whatever form of government our country chooses to adopt, we must anchor ourselves in the role of demanding accountability and going after corruption in any situation,” the senior associate justice said.
Leonen’s remarks came after Senate President Vicente Sotto III criticized the recent SC’s ruling which affirmed with finality the unconstitutionality of the fourth Articles of Impeachment filed by the House of Representatives against Vice President Sara Duterte for violating the one-yearbar rule under the Constitution and her right to due process.
Sotto accused the SC of encroaching on the power of the legislature by imposing new rules for the impeachment process.
He added that the Court’s ruling, which was written by Leonen, has effectively rendered impeachment as an “impossible dream.”
The Senate president said he sees Charter change as a way to undo the impact of the Court’s
ruling on the legislative power of impeachment.
However, Leonen said ending the corruption problem in the country would require more than just a regime or Charter change.
“We must strike at the root of the problem,” Leonen said while stressing that a criminal justice system will always exist in any political system.
The senior SC member also reminded the delegates not to allow the appointing power to stop them from doing what is right and just.
“For too long have we been invested in our indebtedness to those who have brought us to where we are now… This should no longer be the case. We are indebted to no one except the mandate of our office. We are not accountable with the appointing power…,” the SC justice said.
“Remaining silent in the face of corruption, especially when we hold office, authority, and voice is complicity in injustice. Silence is not prudence. Silence is hot humility. Silence is injustice,” he added.
AFP OK with PCG invitation to govt officials to join WPS patrol missions
By Rex Anthony Naval
ARANKING military officer on Tuesday expressed support for the Coast Guard (PCG)’s invitation to senior government officials to join its sea and air patrols in order to get first hand information on the situation at the West Philippine Sea (WPS).
The Navy (PN) spokesperson for the WPS, Rear Adm. Roy Vincent Trinidad, said the Armed Forces (AFP) strongly supports efforts by the PCG on this plan.
“First and foremost, the AFP supports the initiative of the PCG and other government agencies to invite senior government officials to see what is out there in the West Philippine Sea either by air or by sea,” he added.
Trinidad also stressed that the Philippines’ presence in the WPS has been strengthened.
“Government presence has been increased in the different islands in the WPS,” the PN official said, adding that efforts go beyond military deployment.
Trinidad also said agencies under the Department of National Defense and the AFP, along with civilian agencies such as the Department of the Interior and Local Government, Department of Health, and tourism-related offices, are actively supporting the needs of residents in the Municipality of Kalayaan.
He said the deployment of ships, aircraft, and personnel in the WPS follows a programmed plan coordinated by Joint Headquarters and Western Command.
Trinidad also confirmed that inviting government officials to visit islands in the WPS, including KIG, remains an option.
“We support the PCG and the move to invite officials. On
a case-to-case basis, we invite government officials to visit the island,” he said.
As this developed, Trinidad also reiterated the AFP’s commitment to defend the Kalayaan Island Group (KIG) amid suggestions from some groups to give it up.
“The Constitutional mandate of the AFP is to protect national sovereignty, secure the integrity of the national territory and look after the welfare of the Filipino people,” he added.
And throughout history, Trinidad said the AFP has never wavered in performing this mandate and have proven this time and again.
Another officer ridiculed those who proposed to give up the KIG to China, saying, “they are just like lawyers who ran out of the law or the facts to pound during arguments...they just pound on the table.”
AMID growing tensions in the West Philippine Sea (WPS), lawmakers on Tuesday warned that many Filipinos lack a clear understanding of the country’s maritime rights and boundaries as they pushed for the swift approval of a bill that would require the study of the WPS in all public and private schools nationwide.
Party-list Rep. Chel Diokno of Akbayan filed House Bill 1625, also known as the proposed West Philippine Sea Mandatory Education Act of 2025, together with fellow Akbayan Reps. Perci Cendana and Dadah Kiram Ismula, Dinagat Islands Rep. Kaka Bag-ao, Partylist Rep. Leila de Lima of Mamamayang Liberal, and Albay Rep. Cielo Krisel Lagman. Diokno urged President Marcos to certify the measure as urgent and called on lawmakers in both chambers of Congress to act promptly.
“Now that we are facing increasingly pressing concerns regarding the West Philippine Sea and our maritime boundaries, it is more important than ever that Filipinos—especially the youth—fully understand our rights, our history, and the truth grounded not only in the well-documented history of territorial ownership but also in international law,” Diokno said.
“We need to prioritize the passage of this proposal to ensure that future generations are equipped with factual knowledge about the West Philippine Sea, including the Philippines’ sovereign rights and the significance of our legal victory against China in the 2016 arbitral ruling,” he added.
Diokno made the call following renewed questions about the arbitral ruling, particularly claims that it failed to specify exact coordinates or boundaries for the WPS and therefore lacks definitiveness.
Under the measure, lessons on the history of the West Philippine Sea dispute, the Philippines’ maritime entitlements under the United Nations Convention on the Law of the Sea, and the landmark ruling of the Permanent Court of Arbitration (PCA) in The Hague will be integrated into the curricula of public and private schools.
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Supplier Development Fund will also be created to enable MSMEs to acquire new machinery and technology, secure the necessary certifications, and train their personnel in specialized skills.
The bill provides for an initial P1 billion allocation for the Fund, which will be administered by the Department of Trade and Industry (DTI).
Operating on a co-financing basis, the Fund can be accessed by MSMEs endorsed by a corporation or “anchor firm” that has identified the former as a potential supplier. The Fund will help cover costs in modernizing the operations of MSMEs through new equipment and technology, training, quality control, production management, and securing quality, environmental, and process certifications.
The bill provides for tax breaks equivalent to 150 percent of training and technology transfer costs to encourage large corporations to integrate MSMEs into their supply chain.
“A large anchor firm that successfully integrates a new local MSME into its direct supply chain for at least two consecutive years with verifiable evidence of technology or skills development shall be entitled to an additional tax deduction equivalent to 150 percent of the total cost of training and technology transfer expenses provided to that MSME,” the bill states.
The DTI is tasked under the bill to develop, operate, and maintain a national “Tatak Pinoy Suppliers” Digital Matchmaking Platform, which is a searchable database of pre-screened and pre-qualified MSMEs that corporations can tap as suppliers based on their specific needs and standards.
In 2023, there were more than one million MSME establishments in the country, which contributed around 25 percent of total export revenue and 40 percent of the country’s Gross Domestic Product (GDP).
A survey by the Bangko Sentral ng Pilipinas (BSP) found that key challenges faced by MSMEs include access to finance, securing permits and licenses, cost of utilities and labor, talent retention, and market access.
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“This will ensure that students fully understand the significance of the PCA ruling, the Philippines’ right to protect its territorial jurisdiction, and the implications of China’s refusal to recognize the ruling,” the bill’s explanatory note said.
If enacted, the Department of Education will serve as the implementing agency, tasked with developing age-appropriate curricula, instructional materials, and teaching modules in coordination with the National Historical Commission of the Philippines, the Department of Foreign Affairs, academic institutions, and civil society groups.
Akbayan lawmakers, led by Diokno, also signed House Resolution 680, urging the government to take stronger action against what they described as misleading and disrespectful statements by the Chinese Embassy directed at Philippine officials.
Meanwhile, the Senate approved Senate Resolution 256 condemning statements made by Chinese Embassy officials in Manila that criticized Philippine leaders and institutions for asserting the country’s sovereignty and maritime rights in the West Philippine Sea.
Jovee Marie N. dela Cruz
House junks impeachment cases vs Marcos
By Jovee Marie N. dela Cruz @joveemarie
WITH a 284-8 vote with four abstentions, the House of Representatives on Tuesday affirmed the recommendation of the House Committee on Justice to dismiss two impeachment complaints against President Marcos for lack of substance.
The chamber adopted Committee Report 111 and approved House Resolution 746, which dismissed the complaints filed by lawyer Andre R. de Jesus and by Liza Maza, Teodoro Casiño, Renato Reyes Jr., Neri Colmenares, and others.
In her sponsorship speech, the Committee on Justice chairperson, Rep. Jerville Luistro of Batangas said the panel’s decision was based on constitutional standards, Supreme Court jurisprudence, and the House Rules on Impeachment. She stressed that while im -
peachment is a tool for accountability, it must meet strict requirements of substance, gravity, and due process.
“I rise today to sponsor the committee report and the accompanying resolution from the Committee on Justice, formally recommending the dismissal of the two impeachment complaints filed against President Ferdinand R. Marcos, Jr.,” Luistro said. Luistro explained that both complaints were found insufficient in form after document review but failed the higher thresh -
old of sufficiency in substance, which requires ultimate facts supported by personal knowledge and authentic records rather than hearsay or speculation.
The committee found no solid factual basis for the allegations in the de Jesus complaint, which included claims on foreign policy decisions, alleged drug use, budget veto issues, corruption, and the creation of the Independent Commission for Infrastructure. Luistro said policy disagreements are not impeachable offenses and unverified claims cannot sustain impeachment.
She added that the Maza et al. complaint, likewise, lacked substantiated evidence, including allegations tied to budget matters and policy decisions, emphasizing that impeachment is not meant to punish policy choices.
“Complaints that are fundamentally insufficient in substance must be dismissed, not indulged for the sake of political theater. In this Hall, the interest of the Filipino people must always come first,” Luistro said.
Luistro said the committee’s decision reflects strict adherence to the 1987 Constitution, stress -
ing that lawmakers must weigh accusations carefully, act with conscience, and uphold the rule of law and the public interest above all. She added that while impeachment is a constitutional tool for accountability, it is not without limits.
“Although impeachment is political in nature, it is not without limits,” Luistro said, citing Supreme Court (SC) doctrine that the process remains subject to “strict constitutional standards, gravity, and due process.”
Luistro said both complaints were declared sufficient in form after a physical inspection of the documents but failed the more demanding test of sufficiency in substance.
For her part, Party-list Rep. Renee Louise M. Co of Kabataan said her vote of “no” was based on what she described as evidence of three acts constituting betrayal of public trust. These include the alleged use of a “BBM Parametric Formula” in allocating funds for flood control and infrastructure projects, the release of historically large unprogrammed appropriations – including funds drawn
Ombudsman belittles ‘evidentiary value’ of Cabral files
Bfrom PhilHealth—and the alleged insertion of at least P100 billion worth of projects into the 2025 General Appropriations Act. Co said the impeachment process is the “proper, legal, and constitutional avenue” to examine these allegations and questioned the decision to junk the complaint despite what she called unresolved issues raised in legislative and investigative reports.
Party-list Rep. Sarah Elago of Gabriela, likewise, opposed the resolution, asserting that the impeachment complaint met the House requirement of “sufficiency in substance.” She argued that the complaint clearly presented factual allegations that, if proven, would constitute impeachable offenses, particularly in relation to public fund allocation and alleged kickback schemes tied to infrastructure spending.
Elago said dismissing the complaint denies the public an opportunity to seek accountability, especially amid ongoing concerns over corruption and economic hardship. She maintained that no public official should be exempt from scrutiny under the law.
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By Joel R. San Juan @jrsanjuan1573
AGUIO CITY—Ombudsman Jesus Crispin Remulla on Tuesday belittled the evidentiary value of the so-called Cabral files in the ongoing effort to hold accountable those involved in the multi-billion scandal involving the government’s flood control projects.
At a press briefing, Remulla noted that the Cabral files are stored in a computer owned by the government that was turned over to the Ombudsman. The computer supposedly contains records made by the late Public Works Undersecretary Maria Catalina Cabral pertaining to budget allocations, listing
De Venecia. . .
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the Bases Conversion and Development Act, the Build-Operate-Transfer Law, the Philippine Economic Zone Act, and the New Central Bank Act—policies that influenced investment flows, infrastructure development, and financial stability in the country.
Beyond legislation, De Venecia was widely recognized for his role in peace-building efforts. He supported dialogue during critical periods of conflict, contributing to agreements with RAM-AFP-YOU in 1995 and with the Moro National Liberation Front in 1996. His influence extended internationally through institutions he founded or nurtured, including the International Conference of Asian Political Parties, the Asian Parliamentary Assembly, the International Association of Parliamentarians for Peace, and the Asian Peace and Reconciliation Council. He also promoted interfaith dialogue initiatives at
BSP. . .
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newspaper: “BSP still has room to support the economy, but it may adopt a cautious wait-and-see stance in the next meeting to assess external risks, PHP movements, and the strength of demand before delivering further easing.” He further explained that a pause
of projects and their proponents for different legislative districts between 2023 and 2026.
Remulla noted that there are data they failed to see from the actual files but they were able to retrieve from the “cloud.”
“I cannot give any evidentiary value to it because authenticating it is a problem already,” Remulla said, referring to the chain of custody rule.
Remulla, however, said the files can still serve as a guide in the ongoing investigations.
“But as a source of evidence, we have to know because we’re very careful about it. We are being careful in handling everything. We have protocols being followed so the evidentiary value will not be destroyed,” Remulla said.
the United Nations, positioning the Philippines as an active voice in global diplomacy.
The family said details regarding the wake and interment will be announced later.
De Venecia is survived by his wife, Pangasinan 4th District Rep. Gina de Venecia, and their family.
House tribute IN a statement, Speaker Faustino “Bojie” G. Dy III described De Venecia as “a respected leader whose life of public service was marked by intellect, courage, and an undeniable devotion to the Filipino people.”
“Manong Joe was not only Speaker of the House; he was a pillar of the institution and a defender of democracy in times when our country faced severe challenges,” Dy said. “His legacy lives on in the reforms he championed, the diplomacy he practiced, and the public servants he trained and inspired.”
Leyte Rep. Ferdinand Martin G. Romualdez, president of LakasChristian Muslim Democrats (Lakas-CMD), called the former speaker “one of the greatest pillars
would not signal tightening, but rather a “calibration phase” to ensure that additional cuts translate into real credit and investment expansion rather than just liquidity buildup.
“Recent data suggest BSP may lean toward a cautious pause rather than an immediate cut,” added Rivera.
The central bank has cut rates eight times since August 2024, totaling 200 basis points, reducing the policy rate from 6.50
Supreme Court Senior Associate Justice Marvic Leonen, during his speech before the delegates of the Ombudsman Strategic and Operational Planning (2026-2032), also warned against improper handling of mobile phones and other digital devices which can render them inadmissible as evidence in court.
“The Supreme Court has witnessed that many data has been rendered inadmissible because the device and the forensic evidence and the digital information were not properly accounted for. There was no chain of custody,” Leonen said.
“Once you get data from the phone, it modifies the phone,” he added.
“The actual effort that we all need to do in order to get evidence
of Philippine democracy” and the political father of the party.
“Speaker Joe was more than a public servant; he was a statesman in the truest sense of the word,” Romualdez said. He credited De Venecia with guiding Congress through pivotal moments in national history and building a broad-based political movement grounded in unity and inclusive leadership.
Romualdez also highlighted De Venecia’s role in promoting interfaith dialogue and international cooperation, saying his leadership made the Philippines “a moral force in the international community.”
“To Manay Gina, Cong. Christopher, and the entire De Venecia family—we extend our deepest condolences,” Romualdez said. “His legacy will live on in every public servant who dares to lead with vision, conviction, and love for the country.”
“Political gift” FOR his part, Manolo Quezon described De Venecia as “a rarer
percent to 4.5 percent. In the middle of that easing cycle, however, the central bank’s seven-man Monetary Board had to hit the brakes on cutting the policy benchmark rate due to global uncertainty over trade policies. At the BSP monetary policy meeting on February 13, 2025, the MB said it “decided to keep the BSP’s Target Reverse Repurchase Rate at 5.75 percent.”
is to discover it, maintain it, preserve it, and maintain the chain of custody so that when it is presented in court, it is not rendered inadmissible,” Leonen said. Leonen stressed that one way of catching those involved in corruption is through their mobile and other digital devices.
“Let me just tell all of you and remind all of you—there is one thing that knows all about you and it is not your spouse… It is what you have in your pockets right now. Your mobile devices can tell anyone that knows how to exploit the data where you have been…”
Leonen also warned against premature public disclosure of ongoing investigations as this can jeopardize evidence collection.
political gift than you’d think.”
“JDV was an idea-a-minute guy, easy to talk to, and had that true politician’s gift of making you feel not only at ease but also that you were valuable and interesting,” he said.
De Venecia, the natural son of prewar politician and postwar Speaker Eugenio Perez, began his career before martial law and made his fortune in the Middle East during the dictatorship, according to a post by Quezon.
Quezon recalled that despite being lampooned at times, the former speaker and his father were gifted legislators who navigated politics without being ruled by appetite or ambition.
Quezon highlighted what he considered JDV’s finest moment: guiding the House during a constitutional crisis when lawmakers sought to impeach the Chief Justice. “It was the swan song of an old-school approach to institutions—jealous of prerogatives, yet conscious of the effects of political strife not just on institutions but on the body politic,” Quezon said.
BSP Governor Eli M. Remolona Jr. told reporters at the briefing that, “Normally, we would have cut further. But something has changed. “The thing that has changed is the uncertainty over what’s going on globally, especially the uncertainty over trade policy. But there are other sources of uncertainty.”
It declares that property acquired during their cohabitation is presumed jointly owned.
On the other hand, Article 148 applies to couples who are not permitted to marry. It provides that only properties obtained through actual contribution are considered common property.
Since the Family Code only allows marriage between a man and a woman, the SC held that samesex couples necessarily fall under Article 148.
“Considering that petitioner and respondent have the same sex when they cohabited, they are not capacitated to marry each other, and thus, Article 148 governs their property relations,” the Court said.
The SC also emphasized that, without a law recognizing samesex marriage, Congress and other government branches must address same-sex couples’ rights, as courts alone cannot resolve all related policy concerns.
“This Court does not have the monopoly to assure the freedom and rights of homosexual couples. With the political, moral, and cultural questions that surround the issue concerning the rights of same-sex couples, political departments especially the Congress must be involved to quest for solutions, which balance interests while maintaining fealty to fundamental freedoms,” the Court noted.
“The process of legislation exposes the experiences of homosexuals who have been oppressed, ensuring that they are understood by those who stand with the majority. Mostly, public reason needs to be first shaped through the crucible of campaigns and advocacies within our political forums before it is sharpened for judicial fiat,” it added.
In his concurring opinion, Senior Associate Justice Marvic M.V.F. Leonen explained that Article 148 does not distinguish based on gender and applies to all forms of cohabitation. He emphasized that a same-sex relationship is a normal relationship which must be covered by Article 148.
“Otherwise, we render legally invisible some forms of legitimate intimate relationships,” he stressed. In her concurring opinion, Associate Justice Amy C. Lazaro Javier, also stated that Article 148 is broad enough to cover same-sex cohabitation and should not be limited to heterosexual relationships, “given the prevailing values in modern society as well as the glaring unjustified difference in the treatment of homosexual couples vis-à-vis, their homosexual counterparts.”
DEIR AL-BALAH, Gaza Strip— Israeli military strikes on Monday killed three people west of Gaza City, according to the hospital where the casualties arrived.
Shifa Hospital reported the deaths amid the months-old ceasefire that has seen continued fighting. The Israeli army said Monday it is striking targets in response to Israeli troops coming under fire in the southern city of Rafah, which it says was a violation of the ceasefire. The army said it is striking targets “in a precise manner.”
The four-month-old US-backed ceasefire followed stalled negotiations and included Israel and Hamas accepting a 20-point plan proposed by US President Donald Trump aimed at ending the war unleashed by Hamas’ Oct. 7, 2023, attack into Israel. At the time, Trump said it would lead to a “Strong, Durable, and Everlasting Peace.”
Hamas freed all the living hostages it still held at the outset of the deal in exchange for thousands of Palestinian prisoners held by Israel and the remains of others.
But the larger issues the agreement sought to address, including the future governance of the strip, were met with reservations, and the US offered no firm timeline.
Top UN official concerned over Israel’s West Bank decision
The United Nations top official on Monday expressed concern about the Israeli security cabinet’s decision to deepen the country’s control over the occupied West Bank.
Secretary-General Antonio Guterres is “gravely concerned” and warned that the Israeli deci -
sion could erode the prospect of a two-state solution, spokesperson Stéphane Dujarric said in a statement.
“Such actions, including Israel’s continued presence in the Occupied Palestinian Territory are not only destabilizing but—as recalled by the International Court of Justice—unlawful,” he said.
Israel ‘s security cabinet on Sunday approved measures that aim to deepen Israeli control over the occupied West Bank and weaken the already limited powers of the Palestinian Authority.
Israel’s far-right Finance Minister Bezalel Smotrich said the measures would make it easier for Jewish settlers to force Palestinians to give up land, adding that “we will continue to bury the idea of a Palestinian state.”
Israel captured the West Bank, as well as Gaza and east Jerusalem, in the 1967 Mideast war. The Palestinians want all three territories for a future state.
Rafah crossing improving, official says
THE Palestinian official set to oversee day-to-day affairs in Gaza said on Monday that passage through the Rafah crossing with Egypt is starting to improve after a chaotic first week of reopening marked by confusion, delays and a limited number of crossings.
Ali Shaath, head of the National Committee for the Administration of Gaza, told Egypt’s AlQahera News that operations at
the crossing were improving on Sunday. He said 88 Palestinians were scheduled to travel through Rafah on Monday, more than have crossed in the initial days since reopening. Israel did not immediately confirm the figures.
The European Union border mission at the crossing said in a statement Sunday that 284 Palestinians had crossed since reopening. Travelers included people returning after having fled the war and medical evacuees and their escorts. In total, 53 medical evacuees departed during the first five days of operations. That remains well below the agreed target of 50 medical evacuees exiting and 50 returnees entering daily, negotiated by Israeli, Egyptian, Palestinian and international officials.
Shaath and other members of the committee remain in Egypt, without Israeli authorization to enter the war-battered enclave.
The Rafah crossing opened last week for the first time since mid2024, one of the main requirements for the ceasefire between Israel and Hamas. It was closed Friday and Saturday because of confusion around operations.
Palestinian officials say nearly 20,000 people are seeking to leave
Gaza for medical care unavailable in its largely destroyed health system.
Palestinians who returned to Gaza in the first days after the crossing reopened described hourslong delays and invasive searches by Israeli authorities and an Israeli-backed Palestinian armed group, Abu Shabab. Israel denied mistreatment. Gaza’s Health Ministry said on Monday that five people were killed over the previous 24 hours, bringing the death toll to 581 since the October ceasefire. The truce led to the return of the remaining hostages—both living captives and bodies—from the 251 abducted during the Oct. 7, 2023, attack that triggered the war. Hamas-led militants killed around 1,200 people, mostly civilians, in the attack. Israel’s military offensive has since killed over 72,000 Palestinians, according to the ministry, which operates under the Hamas-run government and is staffed by medical professionals. The UN and independent experts consider it the most reliable source on war casualties.
Magdy reported from Cairo and Metz from Jerusalem. Sally Abou AlJoud reported from Beirut
Palestinians in West Bank struggle to get by as Israel severely limits work permits
TBy Sam Mednick The Associated Press
ULKAREM, West Bank— Hanadi Abu Zant hasn’t been able to pay rent on her apartment in the occupied West Bank for nearly a year after losing her permit to work inside Israel. When her landlord calls the police on her, she hides in a mosque.
“My biggest fear is being kicked out of my home. Where will we sleep, on the street?” she said, wiping tears from her cheeks.
She is among some 100,000 Palestinians whose work permits were revoked after Hamas’ Oct. 7, 2023 attack ignited the war in the Gaza Strip. Confined to the occupied territory, where jobs are scarce and wages far lower, they face dwindling and dangerous options as the economic crisis deepens.
Some have sold their belongings or gone into debt as they try to pay for food, electricity and school expenses for their children. Others have paid steep fees for blackmarket permits or tried to sneak into Israel, risking arrest or worse if they are mistaken for militants.
Israel, which has controlled the West Bank for nearly six decades, says it is under no obligation to allow Palestinians to enter for work and makes such decisions based on security considerations. Thousands of Palestinians are still allowed to work
in scores of Jewish settlements across the West Bank, built on land they want for a future state.
Risk of collapse
THE World Bank has warned that the West Bank economy is at risk of collapse because of Israel’s restrictions. By the end of last year, unemployment had surged to nearly 30% compared with around 12% before the war, according to the Palestinian Central Bureau of Statistics. Before the war, tens of thousands of Palestinians worked inside Israel, mainly in construction and service jobs. Wages can be more than double those in the landlocked West Bank, where de -
cades of Israeli checkpoints, land seizures and other restrictions have weighed heavily on the economy. Palestinians also blame the Palestinian Authority, which exercises limited self-rule in parts of the territory, for not doing enough to create jobs.
About 100,000 Palestinians had work permits that were revoked after the outbreak of the war. Israel has since reinstated fewer than 10,000, according to Gisha, an Israeli group advocating for Palestinian freedom of movement.
Wages earned in Israel injected some $4 billion into the Palestinian economy in 2022, according to the Institute for National Security Studies, an Israeli think
tank. That’s equivalent to about two-thirds of the Palestinian Authority’s budget that year. An Israeli official said Palestinians do not have an inherent right to enter Israel, and that permits are subject to security considerations. The official spoke on condition of anonymity in line with regulations.
Israel seized the West Bank, Gaza and east Jerusalem in the 1967 Mideast war, territories the Palestinians want for a future state. Some 3 million Palestinians live in the West Bank, along with over 500,000 Israeli settlers who can come and go freely. The war in Gaza has brought a spike in Palestinian attacks on Israelis as well as settler violence. Military operations that Israel says are aimed at dismantling militant groups have caused heavy damage in the West Bank and displaced tens of thousands of Palestinians.
‘My refrigerator, it’s empty’ AFTER her husband left her five years ago, Abu Zant secured a job at a food-packing plant in Israel that paid around $1,400 a month, enough to support her four children. When the war erupted, she thought the ban would only last a few months. She baked pastries for friends to scrape by.
GAZA’S civil defense teams work to recover the remains of members of the Abu Nada family, who remain trapped beneath the rubble of their four-story house after it was destroyed by an Israeli airstrike in December 2023, in Gaza City, Monday, Feb. 9, 2026. AP/JEHAD ALSHRAFI
A8 Wednesday, February 11, 2026
UN waits to see how much US intends to pay of the nearly $4 billion it owes
URussia thinks it can outsmart US during Ukraine peace talks, a European intelligence chief says
By Emma Burrows
Associated Press
The
By Edith M. Lederer The Associated Press
NITED NATIONS—The
United Nations said Monday it is waiting to find out how much of the nearly $4 billion the United States owes the world organization the Trump administration intends to pay and when the money will arrive.
U.N. Secretary-General Antonio Guterres warned last week that the world body faces “imminent financial collapse” unless its financial rules are overhauled or all 193 member nations pay their dues, a message clearly directed at the United States.
The US owes $2.196 billion to the U.N.’s regular operating budget, including $767 million for this year, according to a U.N. official. The US also owes $1.8 billion for the separate budget for the U.N.’s far-flung peacekeeping operations, and that also will rise.
in touch with US officials.
which could dramatically affect its operations.
President Donald Trump has said the United Nations has not lived up to its potential. His administration did not pay anything to the United Nations in 2025, and it has withdrawn from U.N. organizations, including the World Health Organization and the cultural agency UNESCO, while pulling funding from dozens of others.
U.N. officials have said 95% of the arrears to the U.N.’s regular budget is from the United States.
The country second on the list for not paying its mandatory regular dues is Venezuela, which owes $38 million, the U.N. official said.
LThe US Mission to the United Nations confirmed that US Ambassador Mike Waltz said the Trump administration planned to make a significant down payment on its arrears in a matter of weeks,
with the final amount still to be determined. His comments were first reported by Reuters.
U.N. spokesman Stephane Dujarric told reporters Monday that Guterres has been in touch with Waltz “for quite some time,” and the U.N.’s controller also has been
“We’re waiting to see exactly when payments will be made and in what amount,” Dujarric said.
Guterres said in a letter to all member nations last week that cash for the U.N.’s regular operating budget could run out by July,
The South American nation, whose economy was struggling before the US military raid in January that deposed then-President Nicolás Maduro, has lost its right to vote in the General Assembly for being two years in arrears.
Nearly 60 countries paid their annual dues by the Feb. 8 due date.
Survey says democracies’ anti-corruption efforts slipping, raises concern about US
BBy Geir Moulson
The Associated Press
ERLIN—Established democracies’ efforts against public-sector corruption appear to be flagging, according to a survey released Tuesday that serves as a barometer of perceived corruption worldwide. It raised concern about developments in the United States and the impact elsewhere of US funding cuts.
Transparency International’s Corruption Perceptions Index for 2025 gave top place to Denmark, with 89 points out of 100, followed by Finland and Singapore. At the bottom were South Sudan and Somalia with nine points apiece, followed by Venezuela. The leading trio was unchanged, and the last three only in that South Sudan gained a point to draw level with Somalia.
Most countries failing, while democracies slip THE group said most countries are failing to keep corruption under control, with 122 out of the 182 nations and territories surveyed scoring less than 50 points. The global average last year was 42, down one point to the lowest in over a decade. Only five countries scored above 80 in the 2025 report, down from 12 a decade ago.
The report lamented that “too often, we are seeing a failure of good governance and accountable
leadership.”
It also pointed to “a worrying trend of democracies seeing worsening perceived corruption.”
Among those, it pointed even to high-scoring New Zealand, down two points at 81, and Sweden, unchanged on 80; as well as Canada, the United Kingdom, France and the United States, which scored 75, 70, 66 and 64 points respectively.
Concerns about the US THE US was down one point from
2024 for its worst showing yet under the methodology Transparency started using for its global ranking in 2012, putting it in 29th place in the first year of President Donald Trump’s second term.
“While the data has yet to fully reflect developments in 2025, the use of public office to target and restrict independent voices such as NGOs and journalists, the normalization of conflicted and transactional politics, the politicization of prosecutorial
decision making, and actions that undermine judicial independence, among many others, all send a dangerous signal that corrupt practices are acceptable,” the report said.
Transparency International also argued that the US decision “to temporarily freeze and then degrade enforcement of its Foreign Corrupt Practices Act ... sends a dangerous signal that bribery and other corrupt practices are acceptable.”
Trump said a year ago, when he froze enforcement of the 1977 law that prohibits people or companies operating in the US from giving money or gifts to foreign officials to win or retain deals in those countries, that “it sounds good on paper but in practicality, it’s a disaster.” To its detractors, the act has unfairly hobbled American companies while foreign rivals swoop in.
Separately, Transparency said that “US aid cuts to funding for overseas civil society groups that scrutinize their governments has undermined anti-corruption efforts around the world.” It contended that “political leaders in various countries have also taken this as a cue to further target and restrict independent voices, such as NGOs and journalists.”
The ups and the downs
THE organization measures experts’ perception of public-sector corruption around the world according to 13 data sources, including the World Bank, the World Economic Forum and private risk and consulting companies.
Fifty countries’ scores have declined significantly since 2012, it said—with Hungary, now on 40 points; Turkey, on 31; and Nicaragua, on 14, among the biggest fallers.
“Survey,” A13
ONDON—Russian officials have no desire to halt Russia’s almost 4-year-old invasion of neighboring Ukraine and think they can “outsmart” the United States during talks with Washington about how to end the war, a senior European intelligence official told The Associated Press. Kaupo Rosin, the head of Estonia’s foreign intelligence service, said Moscow is playing for time in the talks with Washington and “there is absolutely no discussion about how to really cooperate with the US in a meaningful way.” Rosin, who spoke at an online briefing with reporters ahead of the publication of Estonia’s annual security report on Tuesday, said the findings were based on intelligence his country gathered from “Russian internal discussions.” He did not elaborate on how the information was obtained. The Estonian report says Russia is unlikely to attack NATO this year or next but that Moscow remains dangerous as it tries to build up its armed forces.
Russian officials have publicly insisted they want a negotiated deal, but they show little willingness to compromise and remain adamant their demands must be met. US-brokered talks between envoys from Russia and Ukraine in recent weeks have been described by officials from both sides as constructive and positive, but there has been no sign of any progress on key issues in the discussions.
Russian President Vladimir Putin, “in his head, still thinks that he can actually militarily win (in Ukraine) at some point,” Rosin said.
A White House official responded to the Estonian intelligence chief’s comments and said the president’s negotiators had made “tremendous progress” on the talks to end the war in Ukraine. Although prisoner exchanges have happened sporadically since May, they pointed in particular to a recent agreement in Abu Dhabi among the US, Ukraine and Russia to release more than 300 prisoners. That agreement was evidence that efforts to end the war are advancing, said the official, who was granted anonymity because they did not have permission to speak publicly.
In an indication that US President Donald Trump wants to accelerate the momentum of peace efforts, Ukrainian President Volodymyr Zelenskyy said last week that Washington has given Ukraine and Russia a June deadline to reach a settlement. Trump over the past year has set several deadlines that have come and gone without apparent consequences.
Fiona Hill, a Russia expert and adviser to Trump in his first term, said Trump and his officials are spinning a story that depicts the US president as a peacemaker and, for that reason, they are not interested in changing their assessment that Putin wants to end the war.
Both leaders, she told the AP, “need their version of events to play out” and are hanging on to their version of the truth—Putin as the victor in Ukraine and Trump as the dealmaker.
“Russia,” A13
U.N. Secretary General António Guterres STEFAN WERMUTH/BLOOMBERG
China’s Lunar New Year travel rush begins; 9.5 billion trips expected
BEIJING—Liu Zhiquan was waiting for a 30-plus hour train journey to Chengdu, the capital of Sichuan province, some 1,242 miles (2,000 kilometers) from Beijing, where he works in construction.
He’s one of the hundreds of millions expected to travel to their hometowns as part of the world’s largest movement of humanity, or “chunyun” as it’s called in China, ahead of the Lunar New Year on Feb. 17.
“Things feel worse this year than last. The economy is bad and it’s getting harder to make money,” he said. Liu chose a slower train to save money: a high-speed train would take just nine hours but costs more than twice as much. Nonetheless, he chose to make the 30-hour journey to be home for the festival, the one time of year
workers across the country take breaks and spend time with their loved ones.
China’s government estimates that 9.5 billion trips will be made during the 40 day-period around
the festival, a record high, according to information from the National Development and Reform Commission. Some 540 million of those trips will be made via train, and 95 million by air. The rest will be on the road.
In a country where workers are expected to put in long hours—including on weekends—and get few days of annual leave, the Lunar New Year festival is a precious time.
At a train station in Beijing, passengers were crowded in the waiting areas with large bags and suitcases as they waited for their trains. Others snacked on instant noodles, an easy snack as stations provide hot water for free.
Tian Duofu, a young woman who recently started working full time in Beijing, said she was looking forward to the nine-day holiday, which begins Feb. 15. “It has become more difficult for a big family to get together. After I started working, I realized such a long holiday is rare and we see each other less and less in person, which makes the Spring Festival significant.”
“The new year is the festival of the year, and if we don’t go back home, we won’t be able to enjoy the festival atmosphere,” said Tian Yunxia, a woman from Henan province who runs a breakfast stall in Beijing. “I want to go home to see my children, my grandchildren and my husband.” AP
In China, consumerism trumps nationalism despite diplomatic spats with US and Japan
By Chan Ho-Him
Ap Business Writer
HONG KONG—In China, consumerism appears to outweigh nationalism regardless of how testy relations have become in recent diplomatic spats with countries like Japan and the United States. It has been common practice for the ruling Communist Party to whip up nationalist sentiment and deploy propaganda condemning countries deemed to be violating China’s stance on territorial issues as Taiwan and Tibet. At times, Beijing targets companies that make ideological missteps in their maps or advertising.
In the past, friction with Japan and the United States has led to calls for mass boycotts, protests in the streets or even vandalism on embassies or restaurants. These days, pure nationalism appears not to resonate so much with Chinese consumers accustomed to making their own personal consumption choices.
“Chinese consumers, especially urban middle-class and younger demographics, are not making everyday purchasing decisions based on nationalism,” said Jacob Cooke, CEO of Beijing-based consultancy WPIC Marketing + Technologies.
Japan still sells despite tensions BEIJING reacted with outrage to Japanese Prime Minister Sanae Takaichi’s comment, not long after she took office in October, that an attack on Taiwan, the self-ruled island China claims as its territory, might require a military intervention by Tokyo.
Chinese officials have condemned the remark and moved to restrict some trade with Japan. Warnings to Chinese travelers not to visit Japan, an ultra-popular destination, have had a notable impact on its tourism industry.
Be that as it may, huge crowds turned up to the opening of an outlet of Sushiro at a Shanghai mall in December.
The Japan-based conveyor-belt sushi chain has become a smash success since it opened its first branch in mainland China in 2021.
“It tastes good,” said Edith Xiao, a 23-year-old university student who lined up outside a Sushiro restaurant in a Beijing mall for more than half an hour to get in. “The quality of the ingredients is guaranteed.”
Xiao is also a fan of the Japanese manga and anime series Chiikawa, whose cherubic, hamster-like car -
toon character is popular among Chinese.
The broader state of ChinaJapan relations has had little impact on her own consumption of Japanese culture or restaurants, she said.
“It’s just statements made by leaders. It doesn’t represent a change in the attitude of people of the country,” she explained.
American culture appeals to Chinese consumers
Tensions between the Chinese and US governments over tariffs, Taiwan and other issues also don’t appear to be causing Chinese to punish American brands.
Disney’s Zootopia 2 is a huge hit in China, where its fans, many in cosplay of its characters, helped make it one of the biggest global cinematic hits of 2025.
It became the highest grossing Hollywood film in China on record with more than 4.4 billion yuan ($634 million) in revenue, according to Chinese entertainment data provider Beacon Pro.
Despite a government push to promote and subsidize homegrown movies to make China a “strong film power” by 2035, Chinese film-goers say they welcome an escape into foreign cinematics.
Zootopia 2 was a light-hearted option, said Ruan Wenlin, who watched the movie in Beijing. “It was so hilarious,” she said.
Many Chinese consumers are “tired, exhausted and anxious from Covid and from the weak economy,” said Shaun Rein, managing director at China Market Research Group. “People are watching Hollywood movies, especially cartoons like Zootopia, because they’re stressed out and just want something to relax themselves,” he said.
Ralph Lauren, the New Yorkbased fashion brand, meanwhile has been building on its “old money” and quiet luxury aesthetic to win favor with urban middle-class Chinese who are prioritizing quality and value over nationalism, analysts say.
American fashions appeal to many, despite often fraught relations between Beijing and Washington. Ralph Lauren’s sales have grown faster in China than in Europe or North America.
“What attracts me most is its stable brand image and design,” said Zhang Tianyu, who was shopping recently at a Ralph Lauren outlet in Beijing.
American brands that are succeeding are doing so because they genuinely meet consumer needs
or represent a lifestyle Chinese consumers want to associate with, not because of country-of-origin alone, said Cooke from WPIC Marketing + Technologies.
Evolving patterns as ‘patriotic buying’ trend shifts
As a wave of patriotic buying of Chinese brands—dubbed “guochao,” or national tide in Chinese—has evolved and matured, many consumers have grown comfortable with both foreign and domestic brands.
“Chinese (people) have stopped buying just for the sake of buying
Chinese brands,” said Rein from China Market Research Group. Consumers are “scared about the economy, they’re anxious about their job prospects. So, they’ll just buy whatever brand, domestic, Chinese or foreign, fits their definition of value and lifestyle,” he said.
Compared with a decade ago, nationalist sentiment has less influence on consumer behavior, analysts said.
In 2012, Chinese crowds gathered for anti-Japan protests over a territorial dispute, smashed
Japanese brand cars and vandalized Japanese restaurants. There were calls to shun Japanese goods.
Likewise in 2021, Western brands including Nike were hit with boycotts in China due to disputes over political issues such as Beijing’s treatment of members of Muslim minorities in Xinjiang, in the country’s far west.
More recently, controversies like a Pokemon card game event that was originally planned to be held at a shrine to honor Japan’s war dead still triggered angry comments on Chinese social
media, but no obvious broader repercussions.
“We may believe that all Chinese consumers should follow Beijing’s direction of discarding foreign influence, which is misleading,” said Yaling Jiang, an independent Chinese consumer analyst. “Geopolitics does not dictate business flows on the local level.”
Shoppers often will just mix and match to suit their own tastes, Jiang said.
PASSENGERS crowd a concourse at a railway station as they return home during the Lunar New Year holiday in Beijing, China, Tuesday, Feb. 10, 2026. AP/VINCENT THIAN
CUSTOMERS wait outside a store for Sushiro, a Japan-based conveyor-belt sushi chain, in Beijing, Wednesday, Jan. 14, 2026. AP/VINCENT THIAN
Landmark trial accusing social media companies of addicting children to their platforms begins
By Kaitlyn Huamani & Barbara Ortutay AP Technology Writers
LOS ANGELES—The world’s biggest social media companies face several landmark trials this year that seek to hold them responsible for harms to children who use their platforms. Opening statements in one such trial in Los Angeles County Superior Court began on Monday.
Instagram’s parent company
Meta and Google’s YouTube face claims that their platforms deliberately addict and harm children.
TikTok and Snap, which were originally named in the lawsuit, settled for undisclosed sums.
Jurors got their first glimpse into what will be a lengthy trial characterized by dueling narratives from the plaintiffs and the two remaining social media companies named as defendants.
Meta lawyer Paul Schmidt spoke of the disagreement within the scientific community over social media addiction, with some believing it doesn’t exist or that addiction is not the most appropriate way to describe heavy social media use.
‘Addicting the brains of children’ MARK LANIER delivered the opening statement for the plaintiffs first, in a lively display where he said the case is as “easy as ABC,” which he said stands for “addicting the brains of children.” He called Meta and Google “two of the richest corporations in history” that have “engineered addiction in children’s brains.”
He presented jurors with a slew of internal e-mails, documents and
studies conducted by Meta and YouTube, as well as YouTube’s parent company, Google. He emphasized the findings of a study Meta conducted called “Project Myst” in which they surveyed 1,000 teens and their parents about their social media use. The two major findings, Lanier said, were that the company knew children who experienced “adverse events” like trauma and stress were particularly vulnerable for addiction; and that parental supervision and controls made little impact.
He also showed internal Google documents that likened some company products to a casino, and internal communication between Meta employees in which one person said Instagram is “like a drug” and that employees are “basically pushers.”
At the core of the Los Angeles case is a 20-year-old identified only by the initials “KGM,” whose case could determine how thousands of other, similar lawsuits against social media companies will play out. She and two other plaintiffs have been selected for bellwether trials—essentially test cases for both sides to see how their arguments play out before a jury.
Plaintiff grew up on YouTube, Instagram KGM made a brief appearance after a break during Lanier’s statement and she will return to testify later in the trial. Lanier spent time speaking about her childhood, and particularly focused on what her personality was like before she began using social media, saying her mother called her a “creative spark” as a child. She started using YouTube at age 6 and Instagram at age 9, Lanier said. Before she graduated elementary school, she had posted 284 videos on YouTube.
The outcome of the trial could have profound effects on the companies’ businesses and how they will handle children using their platforms.
Lanier said the companies’ lawyers will “try to blame the little girl and her parents for the trap they built,” referencing the plaintiff. She was a minor when she said she became addicted to social media platforms, which she claims had a detrimental impact on her mental health.
Lanier said that despite the public position of Meta and YouTube being that they work to protect children and implement safeguards for their use of the platforms, their internal documents show an entirely different position, with explicit references to young children being listed as their target audiences.
Lanier also drew comparisons between the social media companies and tobacco firms, citing internal communication between Meta employees who were concerned about the company’s lack of proactive action about the potential harm their platforms can have on children and teens.
“For a teenager, social validation is survival,” Lanier said. The defendants “engineered a feature that caters to a minor’s craving for social validation,” he added, speaking about “like” buttons and similar features.
Meta pushes back IN his opening statement representing Meta, Schmidt said the core question in the case is whether the platforms were a substantial factor in KGM’s mental health struggles. He spent much of his time going through the plaintiff’s health records, emphasizing that she had experienced many difficult circumstances in her childhood, including emotional abuse, body image issues and bullying.
Schmidt presented a clip from a video deposition from one of KGM’s mental health providers, Dr. Thomas Suberman, who said social media was “not the throughline of what I recall being her main issues,” adding that her struggles seemed to largely stem from interpersonal conflicts and relationships. He painted a picture of a particularly troubled relationship with her mother, with KGM’s own words in text messages and testimony pointing to a volatile home life.
Schmidt acknowledged that many mental health professionals do believe social media addiction can exist, but said three of KGM’s providers—all of whom believe in the form of addiction—have never diagnosed her with it or treated her for it.
Schmidt emphasized to the jurors that the case is not about whether social media is a good thing, the content seen on social media, whether teens spend too much time on their phones or whether the jurors like or dislike Meta, but whether social media was a substantial factor in KGM’s mental health struggles.
One case of thousands “THIS was only the first case— there are hundreds of parents and school districts in the social media addiction trials that start today, and sadly, new families every day who are speaking out and bringing Big Tech to court for its deliberate -
ly harmful products,” said Sacha Haworth, executive director of the nonprofit Tech Oversight Project.
Jurors are not being asked to stop using Facebook, Instagram, YouTube or any other forms of social media throughout the course of the trial—which is expected to last about eight weeks—but Judge Carolyn B. Kuhl emphasized that they should not make any changes to the way they interact with the platforms, including changing their settings or creating new accounts.
Kuhl said that jurors should decide the liability of Meta and YouTube independently when they deliberate.
A separate trial in New Mexico, meanwhile, also kicked off with opening statements on Monday.
KGM claims that her use of social media from an early age addicted her to the technology and exacerbated depression and suicidal thoughts. Importantly, the lawsuit claims that this was done through deliberate design choices made by companies that sought to make their platforms more addictive to children to boost profits. This argument, if successful, could sidestep the companies’ First Amendment shield and Section 230, which protects tech companies from liability for material posted on their platforms.
Executives, including Meta CEO Mark Zuckerberg, are expected to testify at the trial, which will last six to eight weeks. Experts have drawn similarities to the Big Tobacco trials that led to a 1998 settlement requiring cigarette companies to pay billions in health care costs and restrict marketing targeting minors.
The tech companies dispute the claims that their products deliberately harm children, citing a bevy of safeguards they have added over the years and arguing that they are not liable for content posted on their sites by third parties.
A
reckoning
for social media and youth harms
A SLEW of trials beginning this year seek to hold social media companies responsible for harming children’s mental well-being.
In New Mexico, opening statements began Monday for trial on allegations that Meta and its social media platforms have failed to protect young users from sexual exploitation, following an undercover online investigation. Attorney General Raúl Torrez in late 2023 sued Meta and Zuckerberg, who was later dropped from the suit. A federal bellwether trial beginning in June in Oakland, California, will be the first to represent school districts that have sued social media platforms over harms to children.
In addition, more than 40 state attorneys general have filed lawsuits against Meta, claiming it is harming young people and contributing to the youth mental health crisis by deliberately designing features on Instagram and Facebook that addict children to its platforms. The majority of cases filed their lawsuits in federal court, but some sued in their respective states.
TikTok also faces similar lawsuits in more than a dozen states. Other countries, meanwhile, are enacting new laws to limit social media for children. In January, French lawmakers approved a bill banning social media for children under 15, paving the way for the measure to enter into force at the start of the next school year in September, as the idea of setting a minimum age for use of the platforms gains momentum across Europe. Australia has banned use of the platforms by kids under 16.
Ortutay reported from Oakland, California. Associated Press Writer Morgan Lee in Santa Fe, New Mexico, contributed to this story.
Oil exports have been a cash cow for Russia, but revenues are dwindling due to sanctions
By David Mchugh
The Associated Press
OIL and gas exports have sustained Russia’s finances throughout its war against Ukraine. But as the fourth anniversary of the full-scale invasion approaches, those cash flows have suddenly dwindled to lows not seen in years.
It’s the result of new punitive measures from the US and the European Union, US President Don -
ald Trump’s tariff pressure against India, and a tightening crackdown on the fleet of sanctions-dodging tankers carrying Russian oil.
The drop in revenue is pushing President Vladimir Putin to borrow from Russian banks and raise taxes, keeping state finances on an even keel for now.
But those measures only increase strains in a war economy now plagued by slowing growth and stubborn inflation.
In January, Russian state rev -
enues from taxing the oil and gas industries fell to 393 billion rubles ($5.1 billion) That’s down from 587 billion ($7.6 billion) in December and from 1.12 trillion ($14.5 billion) in January 2025. That’s the lowest since the Covid-19 pandemic, says Janis Kluge, an expert on the Russian economy at German Institute for International and Security Affairs.
A new approach to sanctions TO pressure the Kremlin to halt
fighting in Ukraine, the Trump administration imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, from Nov. 21. That means anyone buying or shipping their oil runs the risk of being cut off from the US banking system—a serious concern for any multinational business.
On top of that, on Jan. 21 the EU began banning fuel made from Russia crude—meaning it could no longer be refined somewhere else
and shipped to Europe in the form of gasoline or diesel fuel.
The head of the EU’s executive commission, Ursula von der Leyen, on Friday proposed a full ban on shipping services for Russian oil, saying sanctions offered leverage to push Russia to halt the fighting.
“We must be clear-eyed: Russia will only come to the table with genuine intent if it is pressured to do so,” she said.
The latest sanctions are a step beyond the oil price cap imposed
by the Group of Seven democracies under the Biden administration. The $60 per barrel cap, enforced through insurers and shippers based in G-7 countries, was aimed at reducing Russia’s profits, not banning imports, out of concern over higher energy prices. The cap did reduce government oil revenues temporarily, especially after an EU ban on most Russian seaborne oil forced Russia
“Oil,” A11
In the Arctic, the major climate threat of black carbon is overshadowed by geopolitical tensions
By Peter Prengaman The Associated Press
REYKJAVIK, Iceland—As rising global temperatures speed up the melting of sea ice in the Arctic Ocean, it’s set off a boom of ships taking routes that previously were frozen and not traversable.
The increase in marine Arctic traffic, which received increased attention as President Donald Trump pushed for the United States to take over Greenland, has come with a heavy environmental cost: black carbon, or soot, that spews from ships and makes the ice melt even faster. Several countries are making a case for ships in the Arctic to use cleaner fuels that cause less pollution in meetings this week with international shipping regulators.
Glaciers, snow and ice covered in the soot emitted by ships have less ability to reflect the sun. Instead, the sun’s heat is absorbed, helping to make the Arctic the fastest warming place on Earth. In turn, melting Arctic sea ice can affect weather patterns around the world.
“It ends up in a never-ending cycle of increased warming,” said Sian Prior, lead adviser for the Clean Arctic Alliance, a coalition of nonprofits focused on the Arctic and shipping. “We need to regulate emissions and black carbon, in particular. Both are completely unregulated in the Arctic.”
In December, France, Germany, the Solomon Islands and Denmark proposed that the International Maritime Organization require ships traveling in Arctic waters to use “polar fuels,” which are lighter and emit less carbon pollution than the widely used maritime fuels known as residuals. The proposal includes steps that companies would take to comply and the geographic area it would apply to—all ships traveling north of the 60th parallel. The proposal was expected to be presented to the IMO’s Pollution Prevention and Response Committee this week and possibly another com -
Continued from A10
to shift sales to China and India. But Russia built a “shadow fleet” of aging tankers operating beyond the reach of the cap, and revenues rose again. Pressure on India to stop Russian oil imports
TRUMP on Feb. 3 agreed to lower tariffs to 18% from 25%, saying Indian President Narendra Modi agreed to halt Russian crude imports, and on Friday removed an additional 25% tariff imposed over continued imports of Russian oil.
Modi hasn’t commented. Foreign affairs spokesman Randhir Jaiswal said India’s strategy was “diversifying our energy sourcing in keeping with objective market conditions.” Kremlin spokesman Dmitry Peskov noted that Moscow was monitoring the statements and remains committed to our “advanced strategic partnership” with New Delhi.
mittee in April. A 2024 ban on using a type of residual known as heavy fuel oil in the Arctic has had only modest impacts so far, partly because of loopholes.
Concerns about shipping pollution are overshadowed by geopolitics THE push to reduce black carbon, which studies have shown has a warming impact 1,600 times that of carbon dioxide over a 20-year span, is happening at a time of conflicting interests, both internationally and among the countries that have coastlines in the Arctic.
In recent months, Trump’s periodic comments about the need to “own” Greenland to bolster US security have raised many issues, from Greenland’s sovereignty to the future of the NATO alliance. Pollution and other environmental issues in the Arctic have taken a backseat.
Trump, who has called climate change a “con job,” has also pushed back against global policies aimed at fighting it. Last year, the IMO was expected to adopt new regulations that would have imposed carbon fees on shipping, which supporters said would have pushed companies to use cleaner fuels and electrify fleets where possible. Then Trump intervened, lobbying hard for nations to vote no. The measure was postponed for a year, its prospects at best uncertain. Given that, it’s hard to see the IMO making fast progress on the current proposal to limit black carbon in the Arctic.
Even inside Arctic nations, which are most impacted by black carbon and other shipping pollution, there are internal tensions around such regulations. Iceland
is a good example. While the country is a world leader in green technologies such as carbon capture and the use of thermal energies for heating, conservationists say the country has made less progress on regulating pollution in its seas. That is because the fishing industry, one of the country’s most important, holds huge sway.
“The industry is happy with profits, unhappy with the taxes and not engaged in issues like climate or biodiversity,” said Arni Finnsson, board chair of the Iceland Nature Conservation Association.
Finnsson added that the costs of using cleaner fuels or electrifying fleets have also prompted resistance.
“I think the government is waking up, but they still have to wait for the (fishing) industry to say yes,” he said.
The country has not taken a position on the pending polar fuels proposal. In a statement, Iceland’s Ministry of Environment, Energy and Climate said the proposal was “positive with regard to its purpose and basic content,” but that further study was needed. The statement added that Iceland supports stronger measures to counter shipping emissions and reduce black carbon.
Arctic ship traffic and black carbon emissions both rise
SOOT pollution has increased in the Arctic as cargo ships, fishing boats and even some cruise liners are traveling more in the waters that connect the northernmost parts of Iceland, Greenland, Canada, Russia, Norway, Finland, Sweden and the United States. Between 2013 and 2023, the number of ships entering waters north of the 60th parallel in -
creased by 37%, according to the Arctic Council, an intergovernmental forum made up of the eight countries with territory in the Arctic. In that same period, the total distance traversed by ships in the Arctic increased 111%.
Black carbon emissions have also increased. In 2019, 2,696 metric tons of black carbon was emitted from ships north of the 60th parallel compared with 3,310 metric tons in 2024, according to a
REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 6th Judicial Region Branch 31 Iloilo City rtcilo031@judiciary.gov.ph Tel. No. (033)327-9722 -oOo-
CAD. CASE NO. 25-3183 PETITION FOR ISSUANCE OF OWNER’S COPY OF ORIGINAL CERTIFICATE OF TITLE NO. F13092 COVERING LOT NO. 2598, SPOUSES REX A. ANASARIAS and LIEZEL P. ANASARIAS. LIEZEL P. ANASARIAS representing herself and as attorney-in-fact of her husband, Petitioners, -versusTHE REGISTRY OF DEEDS, PROVINCE OF ILOILO, Respondent.
x—————————x
study by Energy and Environmental Research Associates. The study found that fishing boats were the biggest source of black carbon. It also found that the 2024 ban on heavy fuel oil would only result in a small reduction in black carbon. Waivers and exceptions allow some ships to continue using it until 2029.
Environmental groups and concerned countries see regulating ship fuel as the only way to realistically reduce black carbon. That is because getting nations to agree to limit traffic would likely be impossible. The lure of fishing, resource extraction and shorter shipping distances is too great. Ships can save days on some trips between Asia and Europe by sailing through the Arctic.
Still, the path known as the Northern Sea Route is only traversable a few months of the year, and even then, ships must be accompanied by icebreakers. Those dangers, combined with Arctic pollution concerns, have driven some companies to pledge to stay away—at least for now.
“The debate around the Arctic is intensifying, and commercial shipping is part of that discussion,” wrote Søren Toft, CEO of Mediterranean Shipping Company, the world’s largest container shipping company, in a LinkedIn post last month. “Our position at MSC is clear. We do not and will not use the Northern Sea Route.”
In any case, Russian oil shipments to India have declined in recent weeks, from 2 million barrels per day in October to 1.3 million
per day in December, according to figures from the Kyiv School of Economics and the US Energy Information Administration. Data firm Kpler says “India is unlikely to fully disengage in the near term” from cheap Russian energy.
Ukraine’s allies increasingly have sanctioned individual shadow tankers to deter customers from taking their oil—raising the number to 640 among the US, U.K. and EU. US forces have seized vessels linked to sanc -
tioned Venezuelan oil, including one sailing under a Russian flag, while France briefly intercepted a suspected shadow fleet vessel. Ukrainian strikes have hit Russian refineries, pipelines, export terminals and tankers.
Russian oil is trading at a steep discount
BUYERS are now demanding bigger discounts on Russian oil to RESERVOIRS seen at Priobskoye oil field near Nefteyugansk, in western Siberia, Russia, on April 5, 2006. AP/MISHA JAPARIDZE Oil. . .
O R D E R Finding the Motion to be meritorious, the same is GRANTED. Let the Resolution/Decision in this case be published in a newspaper of general circulation for two (2) consecutive weeks. SO ORDERED. Iloilo City Philippines, January 26, 2026. (SGD.) CYRIL R. REGALADO Presiding Judge REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 6th Judicial Region Branch 31 Iloilo City rtcilo031@judiciary.gov.ph Tel. No. (033)327-9722
CAD. CASE NO. 25-3183 LOT NO. 2598 ALIMODIAN CADASTRE OCT NO.
AN Icebreaker makes the path for a cargo ship with an iceberg in the background near a port on the Alexandra Land island near Nagurskoye, Russia, May 17, 2021. AP/ALEXANDER ZEMLIANICHENKO
Marcos praises Takaichi’s LDP landslide win, sees stronger Japanese role in Asia‑Pacific cooperation
By samuel p. Medenilla @sam_medenilla
N the heels of the land -
Oslide victory of Japanese Prime Minister Sanae Takaichi’s political party, the Liberal Democratic Party (LDP), in a snap election during the weekend, President Ferdinand Marcos expects Tokyo to play a greater role in the Asia-Pacific region. The LDP secured 316 seats
LTO goes to communities, schools to offer free TDCs and issues driving permits
DAVAO CITY—The regional Land Transportation Office (LTO) here undertook outreach caravans in the barangays and schools across Davao Region to bring essential transport services and technical assistance to residents, a Philippine Information Agency news dispatch has reported.
Oscar Don A. Zamora, Head of the Davao City North District Office, said its Barangay Outreach and Support Services (BOSS) project reached 252 barangays last year and facilitated seminars and clarified confusion in several topics on motor registration and issuances of permits.
He said the LTO XI provided 32,868 free theoretical driving course seminars (TDCs) and issued 30,174 student permits. The agency also facilitated the renewal of 1,766 driver’s licenses and 4,573 motor vehicle registrations in barangays, which he said, was a common issue on unregistered motorcycles in rural areas.
In the schools, its project called Strengthening Advocacy for Future Educators and Drivers, or SAFE, has reached 58 campuses for senior high school and college students, which were also the target beneficiaries of free TDCs, student permit issuance, license renewals, and vehicle registrations.
Among its services, the free TDCs was essential for safe driving and for persons of legal age to access the driver’s license. The TDC costs P1,000 in a private driving school-program allows.
“This Theoretical Driving Course is free. We go to the barangays so people don’t need to come to our district office; we bring the services to them,” Zamora said. He added that the initiative “ensures that residents can complete the required TDC and immediately apply for student permits without incurring costs or traveling far”.
Also included in its other outreach activity, the LTO-XI also caters to ex-convicts and tricycle drivers’ associations (TODA), providing education support through the Promoting Accessible and Sustainable Assistance for Drivers Advancement, or Pasada Project. This program have provided 4,631 TDCs, issued student permits to 4,384 persons, license renewals to 155 persons, and facilitated the registrations to 182 others.
“When we visit the barangays, we notice that people just use their motorcycles to go around the area and don’t really head down to the city. Because of that, there are many motorcycles that are completely unregistered. That’s why the LTO has this program now, where we go to them personally to provide the services they need to renew their motorcycle registrations,” Zamora said.
Zamora said the LTO-XI aimed to double the number of barangays and schools to visit. Manuel T. Cayon
or majority of the 465-member lower house of the Japanese parliament during an election held on 8 February 2026.
Political observers said Takaichi’s popularity played a big role in the outcome of the said election. It gave LDP a supermajority in the Japanese parliament, which will enable Takaichi to push for her legislative reforms.
Marcos congratulated Takaichi, Japan’s first female prime minister, for the said historic win.
“A landslide victory and a powerful mandate from the Japanese people,” he said.
He is said to be looking forward to meeting with Takaichi during the Association of Southeast Asian Nations (ASEAN) Summit and related meetings, which will be held in the Philippines this year.
“Japan is a close friend and trusted partner of the Philippines, and its leadership plays a vital role in our region,” Marcos said.
“As ASEAN Chair, we look
forward to working closely with your government to strengthen our partnership and move forward together in advancing stability, cooperation, and shared growth across the Indo-Pacific,” he added.
Marcos first met Takaichi at the 47th Association of Southeast Asian Nations Summit in Malaysia last year. During their meeting, they discussed defense cooperation as well as regional peace, stability, and development.
ZAMCELCO wins court battle as 8 convicted for power pilferage
TBy Lenie Lectura @llectura
HE Zamboanga City Electric Cooperative, Inc. (ZAMCELCO) scored a legal victory after eight individuals were convicted in connection with illegal electricity pilferage.
During the promulgation of judgment for Criminal Case Nos. 56734 and 56735 last February 6, 2026, presided over by Judge Manuel M. Wee Sit IV, all accused were convicted of the crime of pilferage and violation of Section 2 of RA 7832.
“These convictions send a clear and strong message: ZAMCELCO will not tolerate electricity pilferage,” said ZAMCELCO Chief Management Officer. Atty. Rommel S. Agan.
“The Management remains committed to protecting its resources and ensuring that honest member-consumer-owners continue to receive fair and reliable service.” Agan added. The case originated from an operation conducted on March 25, 2025, by the National Bureau of Investigation, local police, military personnel, and ZAMCELCO’s Energy Recovery Team at Purok 7, San Juaniño Village, Barangay Mampang, targeting alleged violations of Republic Act No. 7832, the Anti-Electricity and Electric Transmission Lines/Materials Pilferage Act of 1994. The case was formally filed on March 26, 2025.
Out of the eleven originally apprehended, three settled their differential billing, while the remaining eight proceeded to trial.
Illegal Use of Electricity under Section 2, R.A. No. 7832 prohibits any person, whether natural or juridical, public or private, from tapping or making unauthorized connections to overhead lines, service drops, or other electric service wires; tapping or connecting to the existing electric service facilities of any registered consumer without consent; and knowingly using or benefiting from electricity obtained through such illegal acts.
ZAMCELCO General Manager Engr. Gannumede B. Tiu said individuals who provide verified reports of electricity pilferage may receive an incentive of up to P5,000.
ZAMCELCO is the exclusive power distributor for over 120,000 customers in Zamboanga City, covering 98 barangays.
DAR turns over solar pumps to three ARBOs in Isabela
TBy Jonathan L. Mayuga @jonlmayuga
HE Department of Agrarian Reform (DAR) has recently turned over solar water pumps to three agrarian reform beneficiary organizations (ARBOs) in Isabela Province.
The solar-powered pumps, valued atP1.197 million, were awarded to the Villa Namnama Agriculture Cooperative, the Quirino Isabela Multi-Purpose Cooperative, and the Reina Mercedes Riverside
Farmers Agriculture Cooperative.
These will help ARBs water their crops even during dry months, reduce irrigation costs, and increase harvests.
With stable access to water, ARBs can now plant more often, grow better-quality crops, and earn more for their families.
Jerry B. Reginaldo, manager of the Quirino Isabela MultiPurpose Cooperative, received the solar pump on behalf of the members.
“We thank DAR Secretary
Conrado M. Estrella III and President Ferdinand Marcos Jr. for making this assistance possible. This will greatly help our farmers,” Reginaldo said.
He added that continued support through farm machinery and equipment (FME) will further improve their livelihoods.
The solar pump project reflects the government’s commitment to climate-resilient farming and to improving the income and quality of life of agrarian reform beneficiaries.
Regularization en masse for 4Ps workers in BARMM
By Manuel T. Cayon @awimailbox
DAVAO CITY—‚The Bangsamoro government is set to regularize 1,363 contracted workers for the Pantawid Pamilyang Pilipino Program (4Ps), bolting ahead of their counterparts in the national government still wallowing in contractual or job order works.
The Bangsamoro Ministry of Social Services and Development (MSSD) said the regional government wanted to ensure security of tenure and support the career growth of program workers.
MSSD Director-General Mohammad Muktadir Estrella said the regularization of 4Ps personnel “is critical to improve public service delivery to Bangsamoro families while protecting the rights and welfare of workers.”
These personnel were hired under a Contract of Service (COS) arrangement.
“These personnel also have to think about themselves and their career growth and development. We have seen higher turnover rates in the Bangsamoro region. Therefore, a household may not receive the best service delivery, such as the implementation of the 4Ps program,” Estrella said.
He said the COS setup resulted in high turnover rates, as workers sought more stable employment that offers security of tenure.
Estrella said the welfare of the employee is “an equally important” concern, alongside the regional government’s commitment to human rights and the well-being of Bangsamoro communities.
“We also stand by the principle ‘equal pay for equal work,’ which our Minister Raissa Jajurie also stands by. In the previous setup, 4Ps workers in the autonomous region are doing the same work as their counterparts in the other regions. However, they do not receive 13th and 14th month pays,” he said.
“That is a violation of the fundamental principle of equal pay for equal work,” he added.
Estrella said the plantilla positions have already been approved and are expected to be fully filled by March, their appointments to be attested in accordance with the 2025 Omnibus Rules on Appointments and Other Human Resource Actions (ORAOHRA), “ensuring compliance with minimum qualification standards and adherence to the principle of moral governance.”
He said the regularization of 4Ps COS personnel in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) was discussed by the Intergovernmental Relations Body (IGRB) on September last year, “paving the way for the implementation of the intervention.”
Under Section 2, Article VI of the Bangsamoro Organic Law (BOL), the IGRB is mandated to coordinate and resolve intergovernmental relations issues between the national government and the Bangsamoro government through regular consultation and negotiation.
Estrella expressed gratitude to 4Ps personnel, saying “their sacrifices and hard work mirror those who came before us, our mujahideen and mujahidat.”
“We have seen children from the 4Ps households who are now licensed professionals. They were managed and monitored from the time they were still schoolchildren, and those were only made possible because of the hard work and sacrifices of our workers,” he said.
The 4Ps is a national poverty alleviation program established under Republic Act No. 11310. In BARMM, the MSSD serves as the lead agency in managing and implementing the program.
Remulla dismisses softened Blue Ribbon draft report on senators as ‘politics’
BBy Joel R. San Juan @jrsanjuan1573
AGUIO CITY—Ombudsman Jesus Crispin Remulla branded as mere “politics” the revised draft report to be released by the Senate Blue Ribbon Committee (SBRC) recommending the conduct of a preliminary investigation against incumbent Senators Francis “Chiz” Escudero, Jinggoy Estrada and Joel Villanueva over their alleged involved in the flood control scandal.
The SBRC chaired by Sen. Panfilo Lacson earlier came up with a draft report recommending the filing of plunder and other criminal charges against the senators.
When asked to comment on the apparent softening of the SBRC’s position against the three senators, Remulla stated: “That’s politics.”
“What is acceptable to all or to most is the most important thing. Things have become personal. Of course, they have friends inside who will sign, as long as their names are not included. There are negotiations. There are compromises,” Remulla pointed out.
Remulla, however, stressed that what is important is that the senators have been named and the records are intact.
“What is important here is the records of the Blue Ribbon Committee and all the testimonies,” Remulla pointed out. Remulla earlier confirmed that the said senators are among those being investigated by the Ombudsman and the Department of Justice (DOJ) in connection with the flood control mess.
The DOJ is currently conducting a preliminary investigation on the plunder complaints filed by the National Bureau of investigation against Estrada, former senator Ramon “Bong” Revilla Jr.
Villanueva, on the other hand, is undergoing preliminary investigation for alleged graft and malversation of public funds through falsification of public documents.
However, Remulla acknowledged that the SBRC’s findings in connection with the flood control mess is important as it gives substance to the cases that the Ombudsman is currently investigating.
“We will look at the evidentiary value of everything we can get. That’s what we’re really after—‚the evidentiary value— ‚because our job is to present evidence,” Remulla stressed.
“It guides us to the proper direction, it gives us clues on what more questions to ask and it makes us think on how we can present them as evidence,” he added.
“The whole country will benefit from it,” Vida said.
In terms of prosecution, Vida said the DOJ would study the evidence gathered to determine if these would help in the prosecution of the cases related to flood control scandal.
PHLPost grows its nationwide presence to fulfill last mile service mandate
WITH renewed focus on its role as the nation’s last-mile delivery service provider, the Philippine Postal Corporation (PHLPost) continues to expand its nationwide presence through the opening of new post offices and postal stations across far-flung and remote communities in the country.
The newly opened facilities include the Macrohon Post Office, located at the Municipal Hall in Barangay San Vicente (Poblacion), Macrohon, Southern Leyte; the Matina Davao City Post Office along General Douglas MacArthur Highway in Matina Crossing, Davao City; the Limasawa Island Post Office in Southern Leyte; and the Baco Postal Station in the Municipality of Baco, Oriental Mindoro.
These strategic branch openings form part of PHLPost’s sustained efforts to strengthen its nationwide network and ensure that essential postal and logistics services reach Filipinos wherever they are. By expanding its physical presence not only in growing urban centers but also in geographically isolated communities, PHLPost reinforces its mandate to serve as the country’s only dependable last-mile delivery partner.
PHLPost’s leadership emphasized that the expansion is not simply about increasing the number of facilities, but about improving access to government services and enhancing service reliability at the community level. Each new post office brings core services closer to the public, including mail and parcel delivery, express mail services, Postal ID processing, and other related offerings that support everyday needs, local commerce, and public service continuity.
One of the main thrusts under the leadership of Acting Postmaster General Maximo Sta. Maria III is to honor its commitment to bring government services closer to the people. By strengthening its presence at the grassroots level, the postal service reaffirms its role as a vital public service institution dedicated to bridging the basic yet evolving needs of the Filipino people.
PHLPost is modernizing its operations and strengthening its delivery network while staying true to its mission of connecting people, businesses, and public services. By expanding and improving its services, the Corporation continues to link communities nationwide and support national development.
PHL champions AI collaboration in education at ASEAN summit to boost digital learning
By Claudeth Mocon-Ciriaco @claudethmc3
O accelerate the use of ar -
Ttificial intelligence–driven digital infrastructure in basic education, the Department of Education (DepEd) is pushing forward a regional effort with its Southeast Asian counterparts, as the Philippines participated in the 3rd Regional Policy Convening of the AI Ready ASEAN Programme on Monday in Pasig City.
“The Philippines does not see the digital race as a solitary journey. We stand ready to walk
Tourism. . .
Continued from A16 70,364, and 8.11 percent to 60,290, respectively.
Which is why Ponti underscored the importance of “segmentation” as key to attracting these markets to visit the Philippines. “So looking at how people travel, for example . . . you can see that the Philippines attracts a more mature audience [average age: 42.8] than Indonesia [average age: 40.6], this is very important to your [marketing] communication. It’s also important to know that these different [market] segments are not visiting at the same time. The young people tend to visit during the peak season. The older generations are likely to visit during the shoulder season [i.e., period between peak and off-peak times].”
Poor air connections
HE added that, “Premium travel is also very important because those are the people spending the most at the destination.” In 2025, there was a
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At the same time, it said 31 countries have improved significantly, highlighting Estonia (76 points), the Seychelles (68) and South Korea (63).
Russia remained close to the bottom of the index with an unchanged score of 22, with Transparency International citing “fully centralized, opaque governance
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But there are limits
THE ascent of strong Chinese brands has emerged as a key challenge for foreign companies. From electric vehicles to smart phones to athletic wear, local companies are fast gaining market share both at home and abroad.
“Chinese will choose Chinese brands because they’re better, better value, better quality, better pricing,” said Rein.
After the government declared that travelers should avoid trips to
Russia. . .
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It’s unclear why US officials believe Putin wants peace ALTHOUGH Trump has repeatedly suggested that Putin wants peace, he has sometimes appeared frustrated with the Russian leader’s lukewarm approach to talks.
From an intelligence perspective, Rosin said he doesn’t know why US officials believe the Russian leader wants to end the war. Hill, who served as a national intelligence
alongside our ASEAN neighbors—sharing our insights, our resources, and our steadfast commitment,” said Education Secretary Juan Edgardo “Sonny” Angara in a message.
“Together, we can build a digitally empowered region where growth is shared and progress is collective,” he said, as DepEd actively engaged education leaders, digital policymakers, and development partners during the said event.
The Philippines’ participation in the regional effort is anchored on Project AGAP.AI, DepEd’s flag -
3-percent increase in premium cabin bookings to Asean destinations. Tourists planning to visit the Philippines, he said, book their trip “more than one month in advance,” citing the importance of the correct timing in driving visitor intent. “So your business, your destination, if it’s not top of mind at these key moments [when they are searching for flights], you’re losing business because the bookings are taking place shortly afterwards and not always with the same time. So know your market so that you can use your marketing budget in the best possible way.”
The Philippines, however, continues to struggle with poor air connectivity from international destinations. Ponti showed that in 2025, only 12 new routes to the Philippines from abroad were added, against 21 dropped routes, or a net decrease of 9 routes. Last year, of the total 77 million flights to the country representing 103 international routes, some 55 percent came from Northeast Asia, and some 20 percent were from Southeast Asia.
that suppresses media, civil society and political opposition.” Nearly four years into Russia’s full-scale invasion, Ukraine was up one point at 36 after an energysector corruption scandal forced high-level resignations. Transparency said that civil-society mobilization protected key anticorruption institutions and investigations were increased, though “further reforms are needed to protect defense and reconstruction funds from misuse.”
Japan, employees of state-owned companies and government agencies, as well as travel agencies, fell in line. Hundreds of flights operated by China’s major state-owned airlines, and Japan-bound group tours, were cancelled. The number of Chinese visitors to Japan fell 45% in December from a year earlier, to about 330,400. Many Chinese are still traveling to Japan individually, despite earlier warnings from officials, often while keeping a lowprofile on social media.
AP’s Beijing newsroom contributed to this story.
officer under previous US administrations, said it’s unclear what intelligence information Trump gets on Russia—or if he reads it. He relies heavily on his lead negotiators, special envoy Steve Witkoff and son-in-law Jared Kushner, who Hill said may struggle to believe that the damage to the Russian economy caused by the war is a price Putin is willing to pay for Ukraine. Referring to reports that Witkoff has attended meetings with Putin without a US State Department translator, she questioned if Trump’s envoys understood what was being said in meetings and suggested officials may
ship program on artificial intelligence in education, positioning technology as a practical tool to raise learning outcomes and ease teachers’ day-to-day workload.
Through the AI Ready ASEAN Program, nearly 796,000 Filipinos, including educators and learners, have already completed training on the fundamentals of AI literacy.
“A future-ready ASEAN cannot be built on guesswork or lofty rhetoric alone. It must be grounded in the lived realities of our people,” he added.
The convening was held under
the AI Ready ASEAN initiative of the ASEAN Foundation, supported by a grant from Google.org. The regional program seeks to expand AI literacy and promote the responsible use of emerging technologies across all ASEAN member states.
For Filipino learners, the regional collaboration is intended to deliver more accessible digital learning tools, betterdesigned online and blended learning platforms, and datadriven interventions that help schools identify and address learning gaps early.
These efforts are aimed at
making learning more responsive to individual needs while ensuring that the use of technology remains ethical, inclusive, and age-appropriate.
Teachers, meanwhile, are set to gain from shared ASEAN policy frameworks that prioritize practical classroom support. DepEd officials said AI-enabled systems are being positioned to streamline administrative work, strengthen lesson planning through smarter digital resources, and provide timely insights on student progress—allowing teachers to spend more time on teaching and direct
Palace scrutinizes Indonesia deal for Veloso clemency path
By Samuel Medenilla @sam_medenilla
MALACAÑANG said it is studying if there are any legal impediments in the granting of clemency to the former overseas Filipino worker (OFW), Mary Jane Veloso, who was convicted of drug trafficking.
In a press briefing last Tuesday, Palace Press Officer Claire Castro said that the Office of the Executive Secretary (OES) is looking into the terms of the agreement between Manila and Jakarta for Veloso’s transfer to the Philippines.
The Department of Foreign Affairs (DFA) said there was no written deal for the transfer, which allowed to be detained at the Correction Institution for Women in Mandaluyong City after over a decade of imprisonment in Indonesia.
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compensate for the risk of running afoul of US sanctions and the hassle of finding payment workarounds that skirt banks reluctant to touch the transactions. The discount widened to about $25 per barrel in December, as Russia’s primary crude export, Urals blend, fell below $38 per barrel, compared with about $62.50 per barrel for international benchmark Brent crude.
Since Russia’s taxes on oil production are based on the price of oil, that cuts into state revenues.
“It’s a cascading or domino effect,” said Mark Esposito, a senior analyst focused on seaborne crude at S&P Global Energy. Including diesel and gasoline created “a really a dynamic sanctions package, a one-two punch that are impacting not only the crude flow, but the refined product flow off of those barrels.... A universal way of saying, if it’s coming from
be “selectively” looking for what they want to hear.
Being told what they want to hear
PUTIN is fixated on controlling all of Ukraine and the idea “is so deep in his head” that it takes priority over anything else, including economics, Rosin said, suggesting that the conflict will continue in some form for several years.
He said Putin’s position may change only if the situation in Russia, or on the front line, becomes “catastrophic,” threatening his power. For now, the Russian leader still believes he
“We just spoke with the OES and they said they will study what the provisions are and what the minutes of their meeting in Indonesia are,” Castro said.
However, she noted that President Ferdinand Marcos will make the final decision if he will grant Veloso clemency.
“It is still the President’s prerogative to follow them [OES officials],” Castro said.
Veloso, a former domestic worker in Dubai, was arrested in Indonesia in 2010 at the Adisutjipto International Airport in Yogyakarta after heroin was found in her luggage given to her by her friend, Maria Kristina “Tintin” Sergio.
After local authorities investigated Veloso’s case, Sergio was later charged with illegal recruitment, human trafficking and estafa.
Veloso was later sentenced to
Russian crude, it’s out.”
Reluctance to take delivery has meant an inordinate amount—about 125 million barrels—has built up in tankers at sea. That has driven up costs for scarce capacity, with rates for very large oil tankers reaching $125,000 per day “and that’s directly correlated with the ramifications of the sanctions,” said Esposito.
Slowing growth strains Russia’s budget
ON top of that, economic growth has stalled as the boost from war-related spending reaches its limits and as labor shortages put a cap on potential business expansion. And lower growth means less tax revenue. Gross domestic product increased only 0.1% in the third quarter. Forecasts for this year range between 0.6% and 0.9%, down from over 4% in 2023 and 2024.
“I think the Kremlin is worried about the overall balance of the budget, because it coincides
can take Ukraine and “outsmart everybody,” Rosin said.
One reason Putin thinks he can win militarily in Ukraine is because he is “definitely” getting some incorrect information from his officials, the Estonian intelligence chief said. Not all Russian officials, however, believe they are winning the war in Ukraine, Rosin said.
“The lower you go in the food chain,” the more people understand “how bad it is actually on the ground,” he said, whereas higher up, officials are more optimistic because they are given more positive reports. Rosin cited
death by an Indonesian court. It was deferred through the intervention of the late former President Benigno C. Aquino III in 2011.
Through the request of the Marcos administration, Indonesian President Prabowo Subianto approved to allow Veloso serve her prison sentence in the Philippines in 2024. Last year, Veloso’s parents and Migrante International formally submitted their petition to Malacañang for the detained OFWs clemency. Several months after the petition was submitted and not receiving any response from the Palace, Veloso issued an open letter, where she asked Marcos to release her from her sentence, last month so she can take care of her children and aging parents.
Castro urged Veloso to submit her request to the Office of President so Marcos can act on it.
with the economic downturn,” said Kluge. “And at the same time the costs of the war are not decreasing.”
The Kremlin responds by raising taxes and borrowing THE Kremlin has resorted to higher taxes and borrowing to fill the gap left by dwindling oil revenues and by slower economic growth. The Kremlin-controlled parliament, the Duma, raised valueadded tax paid on consumer purchases at the cash register to 22% from 20% and increased levies on car imports, cigarettes and alcohol. The government has increased its borrowing from compliant domestic banks. And a national wealth fund still has reserves to patch budget holes.
So, the Kremlin has money— for now. But raising taxes can slow growth even more. And borrowing risks worsening inflation, brought down to 5.6% through interest rates of 16% from the central bank, down from a peak of 21%.
examples of officials being told Russian forces had captured Ukrainian settlements when that was not true. The reports that arrive at Putin’s desk may be “much more optimistic” than the situation on the ground because Putin only wants to see success, Rosin said. Hill said both Trump and Putin are probably being told what they want to hear by people who want to please them.
White House reporter Seung Min Kim in Washington D.C. contributed to this report.
learner engagement. The ASEAN Foundation also expressed its intent to align the AI Ready ASEAN activities with the Philippines’ chairship of ASEAN in 2026, particularly in advancing digitalization in education and ensuring that the benefits of AI reach learners and teachers across diverse communities.
DepEd said it will continue to engage regional partners to ensure that the adoption of AI in basic education strengthens—not replaces— the role of teachers, while giving learners the digital skills they need to thrive in a rapidly changing world.
Hasan Joma, who ran a business in Tulkarem before the war helping people find work in Israel, said Palestinian brokers are charging more than triple the price for a permit.
While there are no definite figures, tens of thousands of Palestinians are believed to be working illegally in Israel, according to Esteban Klor, professor of economics at Israel’s Hebrew University and a senior researcher at the INSS. Some risk their lives trying to cross Israel’s separation barrier, which consists of 9-meter high (30-foot) concrete walls, fences and closed military roads.
Shuhrat Barghouthi’s husband has spent five months in prison for trying to climb the barrier to enter Israel for work, she said. Before the war, the couple worked in Israel earning a combined $5,700 a month. Now they are both unemployed and around $14,000 in debt.
“Come and see my refrigerator, it’s empty, there’s nothing to feed my children,” she said. She can’t afford to heat her apartment, where she hasn’t paid rent in two years. She says her children are often sick and frequently go to bed hungry. Sometimes she returns home to see her belongings strewn in the street by the landlord, who has been trying to evict them. Forced to work in settlements OF the roughly 48,000 Palestinians who worked in Israeli settlements before the war, more than 65% have kept their permits, according to Gisha. The Palestinians and most of the international community view the settlements, which have rapidly expanded in recent years, as illegal. Israeli officials did not respond to questions about why more Palestinians are permitted to work in the settlements. Palestinians employed in the settlements, speaking on condition of anonymity for fear of retribution, say their employers have beefed up security since the start of the war and are far more willing to fire anyone stepping out of line, knowing there are plenty more desperate for work.
Two Palestinians working in the Mishor Adumim settlement said security guards look through workers’ phones and revoke their permits arbitrarily.
Israelis have turned to foreign workers to fill jobs held by Palestinians, but some say it’s a poor substitute because they cost more and do not know the language. Palestinians speak Arabic, but those who work in Israel are often fluent in Hebrew. Raphael Dadush, an Israeli developer, said the permit crackdown has resulted in costly delays. Before the war, Palestinians made up more than half his workforce. He’s tried to replace them with Chinese workers but says it’s not exactly the same. He understands the government’s decision, but says it’s time to find a way for Palestinians to return that ensures Israel’s security. Assaf Adiv, the executive director of an Israeli group advocating for Palestinian labor rights, says there has to be some economic integration or there will be “chaos.” “The alternative to work in Israel is
December delivers mixed blessings: Farm trade gap narrows amid continued import dependence
THE month of December brought cheer to Philippine policymakers as official government data indicated that agricultural trade deficit narrowed significantly during that period. Figures released by the Philippine Statistics Authority (PSA) showed that farm trade gap narrowed by nearly 27 percent as payments for imported food items shrank and exports recorded increases. (See, “Farm trade gap narrows 26.9% to $668.35M,” in the BusinessMirror, February 3, 2026). Export earnings from agricultural goods, according to PSA, surged by nearly 20 percent to $884.77 million from $741.92 million in the last month of 2025.
While this is welcome news, the data also reminded policymakers and Filipinos of the sobering reality that the Philippines remains dependent on foreign food sources. Data from the PSA indicated that the import bill for agricultural goods reached $1.55 billion in December, almost more than half of what exporters earned in December. This means that for every $1 that went into the pockets of Filipino exporters, traders had to shell out almost double that amount to pay for food items that the country needed, like cereals and meat products. Reversing this trend may be a tall order, but it has to be done to keep inflation in check and consumer prices stable given the continued strengthening of the US dollar. (See, “Peso weakness seen persisting until 2030,” in the BusinessMirror , February 6, 2026). A strong dollar is good for families of overseas Filipino workers and the business processing outsourcing sector. On the flip side, however, it would make oil and food more expensive for importing countries like the Philippines.
Looking at the PSA data, two of the top three imported food items that the Philippines bought in December are also produced locally – cereals (rice) and meat products. The persistent supply gap in domestic rice production has led to large purchases of the food staple while animal diseases continue to hamper livestock production. Meat imports have been reaching new record-highs precisely because local output could not keep up with domestic demand in the face of sporadic outbreaks of African swine fever (ASF), a disease that is fatal to hogs. Efforts are underway to improve the production of these two products that the country imports in huge quantities, but based on the pace of reforms instituted by the government, it would take a while for the changes to significantly raise output. The ideal target is to end reliance on foreign sources of rice and meat by eliminating imports, but this is not possible at this time. At the very least, the government should aim for a significant reduction in rice and meat imports. Apart from bolstering the output of food staples, the December PSA data showed that there are huge opportunities for exports of agricultural products. Edible fruits, including bananas and pineapples, were among the top exports during the period, as well as preparations of meat, of fish or of crustaceans. There are other products that the Philippines could offer to other countries, but the government needs to help Filipino exporters deliver the requirements of foreign buyers on a consistent basis.
AI is changing the way we work: Women and youth must not be left behind
By Khalid Hassan
AFTER nearly a decade working in the Philippines, I have seen two very different futures unfolding side by side. I have walked through fast-growing business districts and highrise offices in Metro Manila, and I have travelled to places like the Bangsamoro, where too many children are still pushed into labor instead of classrooms.
These contrasts raise an uncomfortable but urgent question: when the future of work arrives faster than expected, who gets left behind?
That question matters now more than ever, as generative artificial intelligence (AI) begins to reshape work across the Philippines.
A new research brief by the International Labor Organization (ILO) shows that more than one in four jobs or around 12.7 million in total are exposed to generative AI in the Philippines, the highest rate among ASEAN members with comparable data. Exposure does not mean jobs will disappear overnight. Most will not. But many will change, sometimes quickly, sometimes painfully—demanding new skills, better protection, and deliberate policy choices.
What concerns me most is this: the shift is not gender-neutral.
The same ILO research shows that women in the Philippines face twice the rate of AI exposure as men, particularly young and educated women concentrated in clerical,
Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao
P893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.businessmirror.com.ph
administrative, and service roles— occupations that AI can automate or fundamentally transform. In regions such as Metro Manila, Central Luzon, and Calabarzon, where digital and business services dominate, women shoulder a disproportionate share of the risk.
Without targeted action, AI could widen existing inequalities, reinforcing barriers that women and young people already face due to poverty, informality, or conflict. Yet this outcome is not inevitable. The same technology can also be a powerful equalizer if we choose to govern it well.
I have seen this possibility firsthand. Through ILO programs supported by development partners, women-led enterprises in Iloilo, Pampanga, and Siargao Island are using digital hubs, e-commerce platforms, and AI-enabled tools to grow their businesses, increase sales, and raise productivity. Under our partnership with the Government of Japan, and now through the United Nations Joint Program Digital PINAS. These women have shown
By William Horobin & Alessandra Migliaccio
RESIDENT Emmanuel Macron has been handed a golden chance to insulate one of France’s most important institutions from the far right.
With Marine Le Pen’s National Rally strongly positioned for next year’s election, the early resignation of the Bank of France chief offers the current head of state—rather than whoever wins the vote to replace him—the opportunity to name a successor. The job is a crucial one, involving attendance at European Central Bank meetings in Frankfurt, and acting as an economic watchdog back home.
Francois Villeroy de Galhau, the governor now set to depart this June instead of October 2027, insists his exit to run a charitable foundation for troubled youngsters is a personal choice. That would stand out as a fairly exceptional step among Group of Seven peers, who have tended to serve out terms or move on to similar economic roles. Regardless of the reason for his
decision, the net result remains the same: France’s elite is now in position to start pulling up the drawbridge in earnest if it wants to prepare for Le Pen, or potentially, her protégé, Jordan Bardella.
And in case that ruling class has any doubts on what populist politicians can unleash, US President Donald Trump’s attempts to force easing by the Federal Reserve offer a demonstrative warning; Villeroy himself decried that push against central-bank independence in a joint statement with global peers last month.
“If it turns out that there’s more to this than personal reasons, then I see a defensive move by an elite that is trying to keep the republic standing,” said Sofia Ventura, a professor at the University of Bologna and author of books on French politics. “Leav-
Without targeted action, AI could widen existing inequalities, reinforcing barriers that women and young people already face due to poverty, informality, or conflict. Yet this outcome is not inevitable. The same technology can also be a powerful equalizer if we choose to govern it well.
something important: the real constraint is not talent, but access. Systems that fail to keep pace with change hold people back far more than technology ever could.
I am reminded of a young woman who once received an ILOsupported scholarship to study web development under a partnership with J.P. Morgan. With the right support, she built her skills, moved into robotic process automation, and today works as an automation developer in Europe. Her story is not exceptional—it is a clear example of what becomes possible when barriers are removed and pathways into STEM and digital careers are opened.
As a father to a daughter, these changes matter deeply to me. When a girl is given access to quality education, relevant skills, and decent work, she does not merely adapt to new technologies, she helps shape them. Yet for many girls in the Philippines, especially those growing up in poverty or conflict-
With Marine Le Pen’s National Rally strongly positioned for next year’s election, the early resignation of the Bank of France chief offers the current head of state—rather than whoever wins the vote to replace him—the opportunity to name a successor. The job is a crucial one, involving attendance at European Central Bank meetings in Frankfurt, and acting as an economic watchdog back home.
ing economic policy in the hands of people who don’t share certain values is troubling to some.”
The danger there is that filling roles with appointees of the established order plays into populist narratives that doing so undercuts democracy. Already in France, actions by the judiciary to block candidates—a fate that could yet befall Le Pen—have prompted that criticism. During Macron’s time in office, he
affected areas, that future remains frustratingly out of reach. This is why this year’s International Day of Women and Girls in Science, with its focus on Synergizing AI, Social Science, STEM and Finance, is so timely. The future of work shaped by AI will not be inclusive by default. Inclusion must be designed through policy, investment, and social dialogue. The ILO’s research points to clear priorities: investing in AI and digital skills for women and youth; embedding STEM pathways early in education; supporting workers through transitions; and financing women-led innovation and enterprises. Women and young people should not be treated merely as workers adapting to AI, but as innovators shaping how it is used.
If we want AI to create decent work rather than deepen divides, we must act now. The message from the ILO’s new research is clear: AI can raise productivity and job quality, but only if no one is left behind. The future of work is being built today. The real question is whether we build it with inclusion, dignity, and social justice at its core or allow old inequalities to be hard-wired into new technologies. The choice is ours.
The author is the Director of the International Labor Organization (ILO) Country Office for the Philippines.
has frequently infused governments and key French and European institutions with technocratic figures who share his calls for deeper integration and a respect for economic orthodoxy.
But the president’s grip on power has weakened significantly after an ill-fated gamble on legislative elections in 2024 handed gains to the far left and Le Pen’s party. Even if her appeal against a ban on running for office fails, surveys of voting intentions show the party’s current leader, Bardella, is equally well placed to be the next French leader.
This wouldn’t be the first time that the prospect of a looming populist win sparked speculation of preemptive personnel moves. In June 2022, former Bank of Italy Governor Ignazio Visco denied plans to step down after a newspaper report that then-Prime Minister Mario Draghi would replace him and others in key positions before possible elections. Ultimately that didn’t transpire, and Brothers of Italy See “Macron,” A15
Ambassador Antonio L. Cabangon
Memory chip crunch ripples through markets, with worse to come
By Winnie Hsu
THE relentless surge in memory chip prices over the past few months has driven a vast divide between winners and losers in the stock market, and investors don’t see any end in sight.
Companies from game console maker Nintendo Co. to big PC brands and Apple Inc. suppliers are seeing shares slump on profitability concerns. Memory producers, meanwhile, are soaring to unprecedented heights. Money managers and analysts are now assessing which firms can best navigate the squeeze by locking in supplies, raising product prices or redesigning to use less memory.
A Bloomberg gauge of global consumer electronics makers is down 12 percent since the end of September while a basket of memory makers including Samsung Electronics Co. has surged more than 160 percent. The question now is how much is priced in.
“What remains underappreciated is the risk around duration—current valuations largely factor in that the disruption will normalize within one to two quarters,” said Vivian Pai, a fund manager at Fidelity International. “We believe industry tightness is likely to persist,” possibly through the rest of the year, she added.
memory prices are up and supply is tight—that’s no longer new information, so I would assume that’s priced in. But it does look like the timeline of this supply tightness is now starting to be questioned.”
Memory ‘supercycle’ CONCERNS over demand and earnings are weighing on the corporate landscape, compounded by worries that massive AI infrastructure spending by US hyperscalers will further exacerbate memory-chip shortages. The massive build-out of AI infrastructure led by the likes of Amazon. com Inc. has shifted production capacity toward high-bandwidth memory and away from traditional DRAM.
A Bloomberg gauge of global consumer electronics makers is down 12 percent since the end of September while a basket of memory makers including Samsung Electronics Co. has surged more than 160 percent. The question now is how much
This has led to what some are describing as a “supercycle,” breaking the usual boom-to-bust patterns of memory supply and demand.
Beyond political theater: A plea for Senate substance and duty
IMemory chip shortages and pricing are being mentioned frequently by companies in earnings reports and conference calls. Investors are hearing the alarm bells.
Shares of Qualcomm Inc. fell more than 8 percent last Thursday after the smartphone processor maker signaled memory constraints will limit phone production. Nintendo slid the most in 18 months in Tokyo the day after it warned of margin pressure from the shortages.
Swiss peripherals maker Logitech International SA has seen its stock slide around 30 percent from a November peak as higher chip prices damp the outlook for PC demand.
Shares of Chinese electric vehicle and smartphone makers from BYD Co. to Xiaomi Corp. have also been sluggish on worry related to the chip shortages.
“Memory prices have really moved from a background conversation to headlines this earnings season,” said Charu Chanana, chief investment strategist at Saxo. “The market broadly understands that
leader Giorgia Meloni took power later that year.
Populist accusations of a deep state resisting change also featured in the UK after the Brexit vote in 2016, and have been a recurring US theme of Trump and his acolytes too. Pressure in the UK could indeed focus on its central bank if Nigel Farage’s Reform UK wins power. In Davos last month, the party leader refused to rule out trying to cut short the Bank of England governor’s term in favor of a preferred candidate.
Back on continental Europe, the central banking community remains particularly wary of Le Pen’s far right after her 2017 election campaign centered on pulling France out of the euro and picking apart EU institutions.
She has since reversed course, but still pledges to challenge the federal powers of Europe. Bardella, meanwhile, said in November that in power, his party would push the ECB to relaunch quantitative easing as a way to tackle France’s bloated debt burden.
A spokesperson for the National Rally declined to comment on Villeroy’s resignation and Ma -
Spot prices for DRAM have shot up more than 600 percent in the past few months, even as demand for endproducts like smartphones and cars remains weak. On top of that, AI is creating new demand for NAND chips and other storage products, driving up costs in those segments as well.
As such, memory chip makers have been the standout winners among tech stocks. Shares of SK Hynix Inc., a key supplier of HBM to Nvidia Corp., are up more than 150 percent just since the end of September in Seoul.
Among makers of more pedestrian chips, Japan’s Kioxia Holdings Corp. and Taiwan’s Nanya Technology Corp. are up around 280 percent each in that span, while Sandisk Corp. has climbed more than 400 percent in New York.
“Historically the memory cycle normally lasted 3-4 years,” said Jian Shi Cortesi, a fund manager at GAM Investment Management in Zurich, adding that she has been holding memory chip shares for a long time.
“The current cycle already exceeded the previous cycles both in length and magnitude, and we are not seeing demand momentum softening.”
With assistance from Henry Ren, Vlad Savov and Neil Campling/ Bloomberg
cron’s responsibility for naming a successor.
“The timing opens the door for Macron to shape the next appointment and keep it out of the hands of a potential far-right government, just as recent developments in the US have put central bank independence back in focus,” said Simona delle Chiaie, Bloomberg chief Euroarea economist.
ECB President Christine Lagarde has stressed the need for a sense of common purpose among Europe’s monetary and fiscal leaders, urging the continent’s lawmakers ahead of a summit this week for “urgent collective action” to strengthen the bloc’s economy.
A French governor picked by the Le Pen’s party would create “noise and uncertainty” in Frankfurt, Frederik Ducrozet, head of macro research at Pictet Wealth Management said. He also flagged that investors have been concerned by the possibility of a far-left candidate winning the presidency with similarly disruptive anti-EU policies.
“The ECB is the most politically independent central bank in the world,” Ducrozet said. “If you have one of the extremes winning in 2027, you risk having someone who is opposed to anything the ECB does.” With assistance from Ania Nussbaum and Richard Bravo/Bloomberg
Dr. Jesus Lim Arranza
MAKE SENSE
HOLD our senators in high esteem and deep respect. This column is not intended to criticize or embarrass them; rather, it serves as a reminder of their responsibility to honor the will of the sovereign people who elected them. They must understand the desires of the citizens and act as genuine representatives of the Filipino people.
Looking at the recent antics and escalating dramas within the hallowed halls of the Senate, one cannot help but draw a disturbing parallel: Is the institution tasked with crafting laws and representing the sovereign Filipino people devolving into its own political vaudeville show?
The evidence, sadly, is mounting. Consider the recent headlines that read more like gossip columns than political reporting:
The failed coup and the whispers
The revelation of a thwarted attempt to oust Senate President Tito Sotto, fueled by speculation over leaked reports and committee reshuffling, smacks of backroom intrigue worthy of a political thriller. Why was the coup attempted? The public deserves transparency, not cryptic surmises about internal grievances.
The leadership musical chairs While succession planning is normal, the very public maneuvering around Sen. Loren Legarda as a potential future Senate President, whether real or just a joke, creates a wrong signal, especially with pronouncements from Majority Leader Juan Miguel Zubiri about informal talks in the Senators’ Lounge, which feels less like statesmanship and more like jockeying for position in a perpetual political game. The emphasis on leadership changes “coming from within the majority bloc” reinforces an inward-looking focus, and might be misinterpreted as prioritizing internal alliances over public mandate.
The Blue Ribbon Committee I believe our senators are welleducated and capable of sound judgment regarding governance. Senator Panfilo “Ping” Lacson is making a commendable stance on the matter. He noted that the Blue Ribbon Committee’s draft report on the flood control investigation categorized respondents based on the evidence collected during hearings.
Nigeria
to step
NI commend Senator Lacson for conducting the Blue Ribbon investigations effectively. In the wake of the PDAF scandal, or the pork barrel scam uncovered in 2013, the allegations of widespread corruption in flood control projects pose a serious threat to our nation. This investigation demands steadfast integrity, thorough evidencebased scrutiny, and independence from the pressures of relationships and factions among senators. The public seeks the truth and desires to see the responsible parties held accountable and imprisoned to prevent similar egregious acts in the future.
As I have stated publicly: “Our senators are elected by the people, and they hold their positions by virtue of the sovereign power. What is occurring today? Are there senators taking sides with their colleagues? This should not be the case, as they are meant to serve the people, not other senators.” Such an inward focus is corrosive.
A plea for substance over spectacle
To our esteemed senators: You were elected not to entertain, but to serve. You were entrusted with the solemn duty of legislation, oversight, and representing the people’s will.
Senators need to heed the voices of the citizens, particularly the taxpayers affected by the ghost flood control scandal, which stands as the largest case of corruption in our nation’s history. During the Traslacion (Feast of the Black Nazarene), what would typically be a solemn occasion turned into a rallying cry, with thousands of devotees chanting “Ikulong na ‘yan! Mga kurakot!” (Lock them up! Corrupt officials!) as they participated in the procession. This displays their frustration with corruption, intertwining their religious devotion with a demand for accountability. I heard their shouts loud and clear, and you must have
up
Economic progress is rarely achieved through drama. It is built through consistency, discipline, and mutual respect between government and the private sector. When leaders show steadiness and focus, they earn the confidence of markets. When institutions respond with trust and continued investment, they reinforce that leadership. In that virtuous cycle lies growth.
heard them too.
I humbly and respectfully submit this vital reminder: “We elected all of you in Congress in the hope that you are all upright, dedicated servants who will act based on evidence not based on friendship.” The call for genuine repentance for those involved in plunder, rooted in a profound sense of moral responsibility, underscores the gravity that this moment demands.
I am praying that our senators engage in sincere self-reflection. The Filipino people deserve a Senate that commands respect through its dignity, diligence, and dedication to the truth.
Respect begets respect
In a recent press release by the Federation of Philippine Industries, the sentiment reverberates with a fundamental truth: “Respect begets respect.” As the Chairman Emeritus of FPI, I reflect on how our economic landscape is shaped not just by financial indices, but by the very essence of leadership that weighs heavily on investor confidence.
Leadership is not only measured by the policies announced or the scandals confronted, but by the steadiness with which a leader carries the weight of office when the noise grows loud. The recent rebound of the Philippine stock market is a timely reminder of this truth: respect, when consistently shown, tends to be returned—by institutions, by investors, and by the public.
After months of sluggish performance, the Philippine Stock Exchange index’s sharp rise to its highest level since mid-January is more than a technical bounce. It reflects renewed confidence that the country’s economic fundamentals remain intact despite the political turbulence stirred by the flood-control corruption scandal. Markets are forwardlooking creatures. They absorb not just headlines, but signals—signals about stability, continuity, and the likelihood that tomorrow will look broadly like today, not dramatically worse.
President Ferdinand Marcos Jr.’s
response to the controversy has been notably calm and measured. Rather than allowing outrage or defensiveness to dictate his posture, he has chosen to stay focused on governance and economic priorities. That composure has not gone unnoticed. Investors, both local and foreign, understand that panic at the top often cascades downward. Calmness, by contrast, has a stabilizing effect. Calmness begets calmness. This does not mean turning a blind eye to wrongdoing. On the contrary, condemning corruption and demanding swift accountability are essential to preserving institutional credibility. The floodcontrol anomalies deserve thorough investigation and consequences for those responsible. But accountability and stability are not opposing goals. They can—and must—coexist. What markets fear most is not scandal itself, but uncertainty: uncertainty about direction, about leadership, and about whether political turmoil will derail economic management.
The recent market rally suggests that investors believe the administration is capable of walking this line—pursuing accountability while keeping the broader economic agenda on track. The fact that the index has effectively erased losses incurred since the scandal was exposed speaks volumes about that belief. A modest pullback as investors took profits was natural and healthy, not a sign of renewed anxiety.
For the business community, the message is clear. Nation-building does not pause every time politics become noisy. Factories must still be built, jobs still created, capital still deployed. Respect for duly constituted authority, coupled with vigilance against corruption, provides the stable environment in which long-term investment decisions can be made.
Economic progress is rarely achieved through drama. It is built through consistency, discipline, and mutual respect between government and the private sector. When leaders show steadiness and focus, they earn the confidence of markets. When institutions respond with trust and continued investment, they reinforce that leadership. In that virtuous cycle lies growth.
Respect begets respect—and, in this case, confidence begets capital, and capital begets progress.
Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and concurrent Chairman of the Anti-Smuggling and AntiIllicit Trade Committee.
cyber defenses as AI attacks, losses mount
By Ruth Olurounbi
IGERIA plans to put in place a cybersecurity framework as it confronts a surge in increasingly sophisticated, artificial intelligence-driven cyberattacks that’s costing its banks, companies and government agencies millions of dollars.
The framework that will be implemented this year will require organizations operating in Nigeria to meet minimum cybersecurity spending thresholds, according to Kashifu Inuwa Abdullahi, director general of the National Information Technology Development Agency.
Many companies currently underinvest because they assume they are unlikely targets, Abdullahi said in an interview. The policy will also introduce mandatory breach-reporting timelines, mechanisms for sharing threat intelligence between the public and private sectors and coordinated response protocols for major cyber incidents, he said. Authorities are tightening cyber defenses as AI accelerates the scale and sophistication of attacks on banks, payment systems and government networks worldwide. From the European Union to Africa, regulators are moving toward stricter breach-reporting rules, mandatory
risk controls and greater information sharing.
Nigeria’s push for a cybersecurity framework underscores vulnerabilities in an economy that is home to some of Africa’s fastest-growing digital finance companies, including Flutterwave Inc. and OPay. The country lost 1.1 trillion naira ($805 million) to cybercrime across banks, telecommunications and government agencies between 2017 and 2023, according to a 2025 Nigeria Cybercrime Assessment by the United Nations Office on Drugs and Crime. Losses have continued to climb as attacks grow more sophisticated and cryptocurrencies are increasingly used for money laundering, the report said.
AI-driven attacks on the financial sector surged 150% last year, said Lanre Ogungbe, chief executive officer of Prembly, a cybersecurity company that builds digital identity verification, compliance and
The framework that will be implemented this year will require organizations operating in Nigeria to meet minimum cybersecurity spending thresholds, according to Kashifu Inuwa Abdullahi, director general of the National Information Technology Development Agency.
security infrastructure for financial institutions.
Deloitte LLP expects ransomware and phishing attacks to increase across Nigeria this year as more services, payments and records move online and “tools and techniques that were once used only by cyber criminals are now widely available.” Phishing campaigns, in particular, have grown more convincing because of AI, it said. AI is being used to craft highly personalized phishing messages, scan systems for weaknesses and identify high-value targets, while helping attackers slip past security tools—speeding up how quickly breaches spread across banks and fintech firms, said a chief information security officer at a top Nigerian bank, who asked not to be named be-
cause of the sensitivity of the matter. A key factor fueling the rise in AI-driven attacks in Nigeria is the country’s instant payment infrastructure, Ogungbe said, as nearreal-time transfers leave little time for fraud detection. He notes that systems now have only seconds to analyze massive volumes of data, distinguish legitimate human activity from AI-driven malicious behavior, and block suspicious transactions before they are completed. “That’s a very tough ask, and many of today’s systems still struggle to keep up,” he said. It remains unclear whether the new framework will be sufficient to address Nigeria’s challenges. One of the biggest obstacles is a shortage of cybersecurity professionals with deep expertise in emerging technologies, while regulation continues to lag the pace of innovation, Buki Ogunsakin, head of Satoshi BBO Solicitors, said in response to questions.
“Regulation moves slower than innovation in tech,” Ogunsakin said. “Technology moves very fast and regulation and regulator usually have to play the catch-up game. We find that where for instance there is no specific regulation for certain kinds of crime, we’re not able to curb it.” Bloomberg
Wednesday, February 11, 2026
EUROPE OFFERS THE BIGGEST TOURISM UPSIDE FOR PHL
By Ma. Stella F. Arnaldo Special to the BusinessMirror
EUROPE presents the largest opportunity for tourism growth in Southeast Asia, and specifically, the Philippines.
In a presentation at the recent Asean Tourism Conference in Cebu, Amadeus Director of Market Intelligence and Insights Olivier Ponti said, based on international flight searches of Asean destinations, “European origins present strong opportunities for [the region’s] tourism growth,” citing would-be tourists from Turkey, Poland, and Austria among the most avid searchers.
The same flight searches show that the Philippines received the longest-stay searches at 48 percent or about 14 days. Medium-stay searches at 6-13 days accounted for 26 percent, a category dominated by East Timor at 47 percent. Amadeus is a leading global travel technology company providing the digital backbone for the travel and tourism industry worldwide.
Ponti also said Germany shows the potential for most visitor growth for the Philippines, especially during the low season, between September and November. Comparing overnight stays data with Indonesia and Malaysia, which are the Philippines’s strongest rivals in this market segment, “A really big opportunity for the Philip -
pines is the German market. There are almost 100,000 additional stays you could get. So if it’s not on your radar, and you’re a travel professional, make sure you change your priorities because there’s really good business segmentation.”
Target key markets, segments THE Philippines goes to ITB Berlin this March 3-6, with the Tourism Promotions Board bringing 34 private companies to participate in the largest travel trade show in the world. In 2025, the Philippines attracted 93,840 tourists from Germany, up 9 percent from 2024. The TPB is the marketing arm of the Department of Tourism (DOT). More than Germany, there are other markets that continue to search for flights and seat capacity to the Philippines, but do not have direct connections to the country. These include London, Frankfurt, Amsterdam, Madrid, Manchester, Barcelona, and the like. “It doesn’t mean that those people are not going to the destination. It just means that it’s going to take them longer and that they are going to pay more [to come to the Philippines],” he said.
DOT data showed 495,243 tourists from Western Europe last year, up 9.18 percent from 2024. Countries in Southern Europe, such as Italy and Spain, also saw significant increases in visitor arrivals in the Philippines, rising by 25 percent to
See “Tourism,” A13
BusinessMirror
Ledac seeks 21 priority bills’ passage in time for 5th Sona
By Samuel P. Medenilla, Jovee Marie N. dela Cruz & Justine Xyrah Garcia
NEWlaws to combat fake news and political dynasties as well as abolish the travel tax were among the 21 priority bills President Ferdinand Marcos Jr. wants to be passed by June in time for his fifth State of the Nation Address (SONA).
During the 3rd Legislative-Executive Development Advisory Council (Ledac) meeting of the 20th Congress in Malacañang on Tuesday, the chief executive disclosed the list of proposed pieces of legislation he wants passed as soon as possible to “uplift the living conditions” of Filipinos.
“That’s what was discussed and will be pushed [by Congress] to pass all 21 priority bills before the end of June this year,” Palace Press Officer Claire Castro said in Filipino in a press briefing last Tuesday.
The list includes the Anti-political Dynasty Act and the Party-list System Reform Act, which the President said he wants to be passed within his term.
Marcos announced his support for both electoral reforms in December, when his trust rating declined with the revelations that billions of taxpayer money were lost in anomalous flood control projects.
“The President first asked about the update regarding the anti-political dynasty because this is what the President and the people want to be enacted as soon as possible,” Castro said.
Senator Risa Hontiveros and House Speaker Faustino “Bodie” Dy III, who were present in the meeting, said the Senate and the House of Representatives are already conducting nationwide public consultations on the AntiPolitical Dynasty bill.
Castro said Marcos will wait for both houses of Congress to craft their separate versions of the said bill before he decides which to support.
The chief executive also wants the Anti-Fake News and Disinformation Act to be prioritized by Congress. Marcos has raised concern on multiple occasions against fake news, which he deems one of the major threats to the country’s freedom and democracy.
Castro assured the measure will
not result in the crackdown against people, who have dissenting positions to the government.
“The President will not allow any freedom of expression/freedom of speech of our countrymen to be trampled upon,” Castro said.
Economic reforms
MARCOS is also pushing for economicrelated bills including the abolition of the Travel Tax as well as enhancing the local coconut sector.
Created by Presidential Decree No. 1183 and amended by Republic Act No. 9593, the travel tax is imposed on individuals, who are leaving the country irrespective of the place where the air ticket is issued.
The tax is collected by the Tourism Infrastructure and Enterprise Authority (Tieza) to be used by the Commission on Higher Education (CHED) for tourism-related programs and the National Commission for Culture and Arts (NCCA).
Currently, full travel tax for first class passengers is at P2,700, while for this in economy class, it is at P1,620.
Last week, House Majority leader Ferdinand Alexander “Sandro” Marcos III, who is also the President’s son, filed House Bill no. 7443, which seeks to abolish travel tax to remove “mobility restrictions” and encourage more tourists to visit the country.
Marcos already backed the proposal despite still not determining the bill’s impact on the government revenues.
“The President saw that this would make it easier for our tourists and our countrymen who are traveling,” Castro said. “The President is also aware that our countrymen travel not only for sightseeing but also for work and for emergency cases,” she added. She said the government will provide the necessary funding to Tieza through the General Appropriations Act (GAA) to offset the possible loses from abolition of the travel tax. To help boost the competitiveness of the country’s coconut sector, Marcos also supports the Amendments to the Coconut Farmers and Industry Trust Fund Act. “The President emphasized that we should help our coconut farmers because we are the exporters/we are the second largest exporters in the entire country. So, the President is also focusing on this,” Castro said.
Complete list OTHER bills included in the 21 common legislative agenda the President wants to be prioritized are the Citizen Access and Disclosure of Expenditures for National Accountability (Cadena) Act; creation of the Independent People’s Commission Act, the body which is expected to replace the Independent Commission for Infrastructures; Right to Information Act; Classroom-Building Acceleration Program (CAP) Act; establishing the
THE Manila Electric Company (Meralco) is seeking for approval to collect an average distribution rate of P2.34 per kilowatt hour (kWh) under the first regulatory period (1RP), or from July 2026 to June 2030, based on the proposed revenue requirement amounting to over P532 billion and proposed capital expenditure (capex) of P272 billion.
This application of Meralco filed before the Energy Regulatory Commission (ERC) is consistent with regulations and complies with prescribed timelines set by the agency and will undergo a transparent and rigorous review process that includes public hearings.
When sought for comment, Meralco confirmed it has formally filed an application for a distribution rate reset under the 1RP in which it said it was applying for an average distribution tariff of P2.34 per kWh, based on the company’s revenue requirement, primarily to fund its proposed capex for the said years.
“Even as we continue our aggressive efforts to invest in strengthening our distribution network and implementing significant customer service improvement initiatives over the past decade, our rates have not increased in the past decade. In fact, it was further reduced to cover the Lapsed Period, as no rate reset was completed from 2015 to 2025,” Meralco Senior Vice President and Head of Regulatory Management Office Jose Ronald V. Valles said.
“We appreciate the ERC’s efforts and commitment to the timely implementation of the new 1RP and Meralco extends its full cooperation to help move the process forward. The rate reset will ensure fair and reasonable rates for our customers
and drive initiatives that will greatly benefit them in the long run,” Valles, also a lawyer, added. In its application, Meralco’s proposed capex for the following years: P51,806,399,031 for RY2027 (July 2026 to June 2027), P61,193,780,965 for RY 2028, P61,077,871,880 for RY 2029, and P73,066,607,281 for RY2030.
Meralco also included in proposed capex a so-called carry-over capex of P20,355,658,838 for RY 2027 and P10,790,816,092 for RY 2028. These are ongoing capex that will be completed during the 1RP.
Meralco’s 1RP application includes proposed programs and projects that will address customer growth, system reliability, power quality, and customer service improvements, and at the same time meet emerging requirements for customer choice programs, real-time energy management, distributed energy resources, battery storage, sustainable mobility, and cybersecurity.
Portion of the total proposed capex will cover expansion of the network and non-electric infrastructure. This involves the development of 25 distribution substations and 3 delivery point substations, and construction and expansion of 8 operating centers and 10 business centers to move personnel closer to serve customers and increase the capabil-
ity of contact centers and other customer touchpoints. These are critical in serving Meralco’s more than eight million customers and peak demand of more than 9,000 megawatts (MW). In addition, the distribution utility intends to implement underground cabling initiatives in select parts of its franchise area.
Likewise, Meralco is earmarking significant investments for the rollout of its “Advance Metering Infrastructure” (AMI) to more than three million customers within a four-year period. This will provide both the distribution utility and customers with real-time energy usage, as well as real-time detection of outages, aligning with the experience of progressive countries.
Furthermore, in line with the government’s goals to expand renewable energy access, achieve 100% household electrification, and promote net metering consistent with the Renewable Energy Act of 2008, Meralco’s proposed investments will also cover affordable solar solutions that will empower households, ease grid demand, and advance the country’s clean energy transition.
To advance sustainable transport, maximize operational and cost efficiencies, and support the electric vehicle (EV) industry, Meralco is also pursuing the full electrification of its vehicle fleet through the strategic replacement of internal combustion engine vehicles with EVs. In full compliance with the Electric Vehicle Industry Development Act and the Comprehensive Roadmap for Electric Vehicle Industry targets, Meralco will roll out EV chargers across business centers and sector offices – establishing a reliable charging network that will support fleet operations across its franchise area.
Finally, Meralco’s planned upgrade and integration of information technology and cybersecurity systems are crucial to the increasing digitalization, automation, and communications requirements, preventing hacking and data theft, and complying with new government regulations.
“This rate reset will enable Meral-
Kawasaki revs up sale of motorcycles in ‘25
By Bless Aubrey Ogerio @blessogerio
KAWASAKI Motors Philippines Corp. announced of having maintained dominance in the tricycle market last year by capturing 61.5 percent of total sales in the segment.
A statement issued by the company read that it recorded a 14.8 percent year-on-year growth, driven by sustained demand for its Barako 175 and CT models.
“These models continue to play a vital role in supporting incomegenerating activities, particularly in provincial and semi-urban com -
munities,” the statement read. The company also posted a 15.7 percent year-on-year increase in total motorcycle sales in 2025, outpacing the industry’s overall growth. The company also saw “continued momentum” in its leisure bike portfolio, citing growing consumer interest in premium and higher-displacement motorcycles. For this month, the company said it plans to expand its leisure lineup with new model introductions.
The upcoming models were previously unveiled at major international motor shows, including the Japan Mobility Show and EICMA in 2025. Industry data show that the
co to pour in massive investments for storm-hardening, upgrading, and expansion of our facilities, as well as technological advancements that are necessary for us to future-proof our distribution network. These go alongside our efforts to ensure fewer interruptions and faster service restoration, promote consumer empowerment and support government-mandated customer choice programs,” Valles said.
“These investments are critical to Meralco’s mandate to deliver high quality, reliable, and stable electricity service, enabling us to meet growing and evolving power requirements and support the country’s economic progress,” he added.
For its proposed annual revenue requirement (ARR) for RY 2027, 2028, 2029, and 2030, Meralco proposed P116,042,457.408, P126,864,963,884, P138,750,964,604, and P150,472,111,078, respectively.
Meralco said the ARR is partly based on a proposed weighted average cost of capital of 14.6 percent.
“Meralco most respectfully prays that, after due notice and hearing, the instant application be approved authorizing applicant to adopt the proposed ARR, performance incentive scheme, and maximum average prices for the First Regulatory Period,” it said in its 20-page application.
THE Simlong Energy Development Corp. (SEDC) and the Philippine National Oil Co. (PNOC) have extended its wind exploration deal in Batangas for two years.
SEDC, a subsidiary of listed investment holdings firm AbaCore Capital Holdings Inc., signed in September last year a memorandum of agreement (MOA), which outlined SEDC and PNOC’s partnership to evaluate and potentially develop a wind energy facility within a designated area of interest inside SEDC’s 142-hectare property in Simlong, Batangas City.
The terms of the agreement were amended and its effectivity was extended until February 29, 2028, unless earlier amended or terminated by mutual agreement.
Under the amended terms, the PNOC will continue to lead the wind resource assessment, geospatial studies, mapping, technoeconomic analysis and forecasting with the study period extended to 18 months from its initial agreement of 15 months to allow for more comprehensive data gathering and analysis.
Batangas remains a strategically attractive location for re -
newable energy development, given its growing role as a center for trade logistics, power generation, and port modernization.
The Simlong site forms part of Abacore’s broader “ABA Energy Hub” strategy, which aims to responsibly develop energy assets aligned with long-term national demand and sustainability goals.
“This is an incremental step that aligns our agreement with PNOC on the realities of conducting a comprehensive wind resource study,” said ABA and SEDC Chairman Antonio Victoriano F. Gregorio III. “Developments will follow the technical findings and viability assessments from the PNOC study.”
The parties are also committed to jointly developing an onshore wind energy hub in the region. Lenie Lectura
Philippine motorcycle market continued to grow in 2025. Figures from the Motorcycle Development Program Participants Association Inc. showed that 1,398,315 motorcycles were sold from January to September 2025, up 12.8 percent from 1,239,258 units sold in the same period a year earlier.
“As Kawasaki Philippines moves into the year ahead, the company remains focused on building on its leadership in core segments while continuing to strengthen its presence across a wider range of motorcycle categories, supporting riders, operators, and dealers across the country,” according to Kawasaki Motors.
Entrepreneur
DTI takes Malikhaing Pinoy global with landmark creative showcase in Thailand
Keeping tabs on pain points
AS I was preparing for a sales training recently, I pondered on the topic of customer pain points. These are specific frustrations, hurdles and concerns of customers that trigger buying motivations. In a research conducted by TrendSeekers, it was found that for 2026, 78 percent or a vast majority of consumers’ pain points may be categorized under fear and inconvenience. Apparently, price considerations only comprised 11 percent contrary to popular perceptions that it’s the primary concern of consumers, especially in a marketplace with widespread price wars, mainly resulting from a generally low business performance across industries last year. As sales leaders, we need to be aware of prevailing and forthcoming business landscapes. Harry Truman once said, Not all readers are leaders. But all leaders must be readers. Yes, all sales leaders must be avid readers of people, situations, trends and shifting business landscapes. Here are three tips to effectively navigate your business in a marketplace with customer pain points dominated by fear and inconvenience.
Address perceived fears IN today’s market, digital platforms ascended to preeminence. It is rapidly changing modes of transactions in quite a spectacular speed, to a point where we see new technologies emerging at rapid scales in every aspect of life. This is even more evident in transactional arrangements that we engage in like buying, selling, access to services and various registration activities, especially now that the use of artificial intelligence is embedded on new technologies. All these was supposedly designed to enable everyone to become more productive and comfortable as we save on precious time and effort on day-to-day errands, and rightly so. However, it also intensified serious consumer fears of digital fraud, identity theft and information security breaches. Moreover, there is currently a growing anxiety as our society is now forced to directly transact with artificial intelligence, realizing that this high-technology world is losing its personal touch. Another growing concern of consumers is about inadequate information. It’s probable that a combination of too much reliance on technology, the assumption that everyone can expertly navigate such platforms, and the oversimplifying of information resulted to deficient information-giving. As a consequence, consumers feel an utter lack of transparency brought about by unclear policy agreements and ineffective communication, among others. The concerns over transparency was further aggravated by rampant and systemic corruption practices involving government and private sectors entangled in a web of mind-blowing complicity which led to heightened consumer doubt and skepticism to various types of transactions. As majority of consumers expe-
rience fear-based pain points, the tendency is that we may see a shift in behavior from a price sensitive market to one that needs sincere assurance, reassurance and guarantees. As sales leaders, we must acknowledge these fears and address them accordingly in order to gain the trust and confidence of the buying public. Hence, we need to be transparent, clear and swift in communication; act with integrity and connect with warm, personalized purposiveness; and lastly, to practice these things with consistency.
Improve customer experience THE TrendSeekers research also indicated that consumers are equally burdened by inconvenience in various types of transactions. At first glance, it may seem odd, especially since technology has evolved specifically to smoothen the transactional processes in the market. However, aside from concerns over ease of use and hassles due to service bog downs, the issue actually points more towards slow digital transformation for most businesses, especially since long queues, service delays and limited transaction options still beset consumers. Indeed, as Don Santo puts it, “patience is a virtue, but it has its limits.” So apparently, we are in a Catch-22 scenario. As we address the technology gap in order to improve customer service, thereby addressing the pain point of inconvenience, the outcome somehow gave rise to consumers’ fear characterized by distrust of technology and those who administer and regulate such services.
It’s a challenge for every sales leader. And in order to solve this conundrum, we must be mindful of our customers’ journey at every touch point within the sales process, making sure that their experience with us, our organization, products and services are always delightful, enjoyable and addresses the pains encountered at every point of their journey.
Always listen to your customers WHILE fear and inconvenience comprise the majority of today’s customer pain points, it is still best to remember that there is no shotgun approach to sales and marketing. Individual customers will always have varying and multiple concerns and buying motivations, all of which are equally important. And that’s why it’s essential to listen to customers’ feedbacks and suggestions in order to keep tab on pain points and effectively address them.
You got this. God bless!
Alexey Rola Cajilig is the Founder, President & CEO of ARCWAY Consultancy Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of Life is a Classroom, The Effective Seller, Solving the Sales Puzzle and Practical Market Intelligence. Coach Lex is also the creator of ARCH Styles, a behavioral and personality assessment & discovery tool. If you have questions and suggestions, you may connect with him at https://www. facebook.com/coachlexey and at https://www. linkedin.com/in/alexey-rola-cajilig.
BANGKOK, Thailand—In a strategic move to bring the Philippine creative industries in the global stage, the Department of Trade and Industry (DTI) officially brought its flagship Malikhaing Pinoy program to international shores. The launch coincides with the Philippines’s assumption of the ASEAN Chairship 2026, signaling a bold commitment to leading the region’s creative economy.
The Malikhaing Pinoy: Lahi Fashion Showcase served as the DTI’s primary vehicle for demonstrating Filipino design excellence to the world. By featuring a collaborative collection led by renowned designer Rajo Laurel, the DTI aims to transform local creative talent into a powerhouse export sector. With over three decades of experience, Laurel is a celebrated pillar of Philippine fashion known for his work and craftmanship.
Held on 30 January at the Dusit Thani Bangkok, the showcase was a curated expression of the Philippine Creative Industries Development Plan (PCIDP), focusing on scaling Filipino artisans from local MSMEs into international brands.
The DTI, through the Philippine Trade and Investment Center (PTIC-Bangkok) and in partnership
with Thailand’s Creative Economy Agency (CEA), selected Bangkok as the launchpad for this international push. Trade Secretary Cristina A. Roque emphasized that as the Philippines takes the helm of ASEAN this year, the creative sector has become a vital pillar of the national and regional economic agenda.
“At the heart of any great nation lies its culture and heritage. As we lead ASEAN in 2026, we are showing our Southeast Asian neighbors our cultural heritage. Our Chairship provides a platform for our creative sector and talents to take centerstage ensuring that the Philippine creative sector drives trade and tourism,” Secretary Roque emphasized.
While the Bangkok showcase highlighted the fashion domain, the DTI’s broader strategy includes highlighting the full strength of the Phil-
ippine creative sector across its nine official domains under the Philippine Creative Industries Development Act (RA 11904). Beyond fashion and textiles, the Philippines is a rising leader in Audiovisual Media, with a thriving film and animation industry, and Digital Interactive Media, where Filipino game developers and software creators are gaining global presence.
The country’s Creative Services— including advertising and marketing—remain highly competitive, while the Publishing and Printed Media and Performing Arts domains continue to produce world-class literary and theatrical talent. Furthermore, the Philippines’ rich cultural identity is preserved and promoted through the Visual Arts, Traditional Cultural Expressions (such as culinary arts and crafts), and the preservation of Cultural Sites, all of which contribute to a robust and diverse creative ecosystem ready for global integration.
“Under the Malikhaing Pinoy ini-
tiative, we are treating our creative sector as a vital pillar of our economic growth, contributing P1.94 trillion in our GDP in 2024. These industries create a ‘currency’ that draws the world to our shores. When the world sees our creative talent in different domains, they see our islands, our history, and our people, and the best of the Philippines,” the DTI chief stated. To ensure the Malikhaing Pinoy initiative generates lasting commercial interest beyond the runway, the DTI has extended the showcase into a week-long exhibition during Bangkok Design Week 2026. Running from 31 January to 05 February 2026, the Malikhaing Pinoy Exhibition is located on the 5th Floor of the Thailand Creative and Design Center (TCDC) at the historic Grand Postal Office in the Charoen Krung District. Through the Malikhaing Pinoy, we are solidifying the Philippines’ position as a premier creative hub in Asia.
DTI strengthens P2-B credit facility to empower women entrepreneurs
TO foster a more inclusive economy, the Department of Trade and Industry (DTI) has designated P2 billion from the Small Business Corporation (SBCorp) fund specifically for the Women’s Enterprise Fund (WEF) in 2026. This initiative balances continued support for women-led businesses that are ready to grow, hire, and increase their economic impact and profit.
The fund aims to provide Filipinas the capital to start and expand their businesses, recognizing their contribution to economic growth. Simultaneously, this fund will empower Filipinas and provide augmentation to their family income, significantly increasing their family’s financial security.
“We continue to support women entrepreneurs seeking local and global expansion, while also opening opportunities for those ready to expand, create jobs, and strengthen local economies. We understand that capital is a challenge
MORE jobs, stronger local businesses, and wider access to regional and global markets are opening up for Filipino entrepreneurs as the Department of Trade and Industry (DTI) partners with major Philippine and international financial institutions to expand startup and innovation collaboration across ASEAN and Japan.
This partnership supports the President’s directive to accelerate the growth of startups and innovation-driven enterprises as key drivers of economic development, job creation, and global competitiveness.
DTI, together with Security Bank Corporation, Bank of Ayudhya Public Company Limited (Krungsri), MUFG Bank Ltd., MUFG Innovation Partners Co., Ltd. (MUIP), and Krungsri Finnovate Company Limited (KFIN), signed a memorandum of understanding (MOU) to help Filipino startups and micro, small, and medium enterprises (MSMEs) grow, scale, and compete globally.
This means stronger support for homegrown businesses, better chances for startups to secure funding and corporate partners, and industries that generate more jobs and innovation-driven growth.
“This collaboration advances our
to many, and the DTI through SBCorp have tailored programs to meet the needs of our MSMEs like this Women’s Enterprise Fund,” Secretary Roque stated.
The Women’s Enterprise Fund provides vital capital to women-owned and women-led micro, small, and medium enterprises (WMSMEs). Borrowers can access the following tailored features: n Loan Amount: From P30,000 to P20 million.
n Grace Period: No payment of capital and interest for the first year for eligible products. n Repayment Terms: Flexible terms of up to five years.
n Collateral: Requirements are waived for loans up to 5 million.
The SBCorp has made application process easier to ensure accessibility for all. Loans can now be accessed digitally through the SBCorp Money App (available on Google Play and Huawei AppGallery) or via the web app at app.sbcorp.ph. To ensure no entrepreneur is left behind, interested parties are encouraged to visit any of the 1,431 Negosyo Centers nationwide. These centers provide guidance on business opportunities and help individuals understand and encourage them to avail DTI programs to grow their ventures. For more information, applicants can also call the hotline at 1-384.
Startup Pilipinas Program and the Tatak Pinoy Strategy as we build innovationdriven ecosystems that empower MSMEs and boost their competitiveness,” said DTI Assistant Secretary Nylah Rizza D. Bautista. “We collectively aim to support market access, startup exchanges, accelerator programs, and business matching while strengthening our AI and Startup Center as a regional innovation hub,” she added.
Turning collaboration into concrete opportunities THE partnership brings together complementary strengths such as, Security
Bank’s strong connections with Philippine corporations, MUFG’s extensive network in the Asia-Pacific region; Krungsri’s presence in Thailand and experience in regional business matching, MUIP and KFIN’s access to international startup ecosystems, and DTI’s mandate to promote Philippine startup growth and international participation. Hirofumi Umeno, Board Director, Executive Vice President, and Alliance Segment Head of Security Bank underscored, “At Security Bank,
Vittorio V. Vitug
FROM left, Trade and Industry Secretary Cristina A. Roque, Creative Economy Agency Executive Director Chakrit Pichyangkul, designer Rajo Laurel, CIG Supervising Head Assistant Secretary Nylah Rizza D. Bautista, Philippine Trade and Investment Center Commercial Counsellor Maria Emmanuelle Burgos in Malikhaing Pinoy Exhibit in Bangkok, Thailand.
Troika of ills slowed growth pace of bank lending, M3
By Andrea E. San Juan
ECONOMISTS pointed to “more cautious” behavior of businesses, softer government spending and weaker confidence as the culprits behind the slow growth pace of bank lending and money supply in the Philippine economy in December 2025.
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the pace of bank lending in December last year was the slowest in nearly two years or since February 2024 while the 7 percent growth pace of domestic liquidity was the slowest in four months or since August last year.
Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed that loan growth slowed to 9.2 percent in December 2025 from the 10.3 percent in November.
Outstanding loans from universal and commercial banks (UKBs) to businesses and individual consumers reached P14.349 trillion as of December 2025.
The outstanding loans to residents grew at a slower rate of 9.7 percent in December 2025 from 10.7 percent in November of last year. Meanwhile, the outstanding loans to non-residents dropped by 8.1 percent after contracting by 4.5 percent in November 2025.
BIR
BLoans meant to fund business activities grew by 8 percent in December 2025, driven by increased lending in real estate activities (8.3 percent); electricity, gas, steam, and airconditioning supply (26.8 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (10.8 percent); and financial and insurance activities (3.9 percent).
Consumer loans to residents— which include credit card, motor vehicle, and general-purpose salary loans—grew by 21.4 percent from 22.9 percent.
“Looking ahead, the BSP will ensure that domestic liquidity and bank lending conditions remain aligned with its price and financial stability mandates,” the BSP said, as bank loans are the key transmission channel of monetary policy.
Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., believes there is a “natural cooling in credit demand.”
“Businesses have turned more
cautious because of rising costs, softer government spending, and weaker confidence,” Ravelas said.
He explained that households are still borrowing but even consumer credit is easing as people become “more selective.”
Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera said the slow growth pace of bank lending and domestic liquidity “suggests that financial conditions are easing only gradually, reflecting cautious borrowing and spending by both firms and households amid lingering uncertainty and softer economic activity.”
M3
PRELIMINARY BSP data showed that the amount of money circulating in the economy rose by 7 percent year-on-year to P20.1 trillion in December 2025.
Growth of domestic liquidity, also known as M3, was slower in December than the 7.6-percent increase in November. After adjusting for seasonal fluctuations, M3 remained broadly stable from November.
Claims on the domestic sector, which includes private and government entities in the country, grew by 10.1 percent year-on-year in December from 10.6 percent in November 2025. Claims on a sector represent that sector’s liabilities to depository corporations (e.g., banks and the central bank).
Claims on the private sector alone grew by 10.1 percent in December 2025 from 11.1 percent in November 2025, as bank lending growth to
non-financial private corporations and households slowed.
Further, net claims on the central government recorded a 10.8-percent increase in December 2025 from 11 percent in the previous month, driven mainly by its higher borrowings.
Net foreign assets (NFAs) in peso terms rose by 6.1 percent year-onyear in December from 4.4 percent in November. NFAs represent the difference between claims on nonresidents and liabilities to nonresidents of depository corporations.
The BSP’s NFAs saw a 5.3 percent growth. Similarly, NFAs of banks grew primarily on account of larger holdings of foreign currency-denominated debt securities.
“The BSP will continue to ensure that domestic liquidity conditions remain consistent with its price and financial stability objectives,” the central bank said in a statement.
M3 is a broad measure of money supply that includes currency in circulation, bank deposits, and other financial assets that are easily convertible to cash.
According to Ricafort, the “slower bank loans growth and M3 growth in December 2025 are largely consistent with the economic slowdown in the latter part of 2025 largely due to government underspending especially on infrastructure that reduced sales, earnings, profits, jobs/employment and other business activities in related businesses and industries/supply chain/value chain/ecosystem of the various infrastructure and other government projects nationwide amid anti-corruption measures/caution due to the anomalous flood control projects.”
urged to reform to deter corruption, better tax take
By Butch Fernandez @butchfBM
EFORE thinking of engaging in corruption, imagine yourselves wearing yellow uniforms, having just P100 for your daily meals, and co-mingling with other inmates in jail. This was the advice given to Bureau of Internal Revenue (BIR) officials by Senate President Pro Tempore Panfilo M. Lacson on Tuesday as he prodded the BIR and other government agencies to go into “reform mode.”
Addressing BIR officials who attended the Blue Ribbon Committee’s hearing on alleged corrupt practices in the agency, Lacson said in a mix of English and Filipino: “I hope you can re-echo this to your personnel in the field.”
“That’s a very good deterrent. Visualize someone wearing a yellow uniform co-mingled with persons deprived of liberty. If you think of engaging in corruption, just imagine that and you will hold back,” the lawmaker said. “If you think of engaging in foolishness, think not just twice or thrice. Think at least 10 times.” Lacson also said a “reform mode” should be the answer to a running joke in the BIR and Bureau of Customs, that some collectors felt like petty pickpockets and snatchers compared to those in the Department of Public Works and Highways who raked in billions of pesos from anomalous flood control projects.
With the steps being undertaken by the BIR to address the corruption linked to the issuance of letters of authority (LOAs) and mission orders
By VG Cabuag @villygc
(MOs), Lacson said the government should finally start to collect enough revenues to fund programs in the 2026 budget, and to address the country’s massive debt.
Citing Executive Secretary Ralph G. Recto, Lacson said the government faces a shortage of at least P200 billion to fund projects and programs in the 2026 budget. He had also suggested that some of the projects be marked “for later release,” especially those that were not vetted and were inserted in the House, Senate and bicameral versions of the budget bill.
At the hearing chaired by Lacson, the BIR detailed its reforms including a system-assisted, anonymized audit selection and assignment process to remove discretionary bias when choosing who gets audited, as well as limiting the issuance of LOAs.
BIR collections
MEANWHILE, Lacson noted poor results in tax collection. He said the BIR needs to catch up and learn from the past, as he cited data from 2023 to 2025 showing very poor efficiency in tax collection from electronic LOAs issued by the BIR’s Run After Fake Transactions (RAFT) task force.
From 2023 to 2025, he said 3,520 LOAs were issued by the task force, with only 54 cases ending in a Final Decision on Disputed Assessment (FDDA).
He also noted that while the assessed payables from NODs from 2023 to 2025 amounted to P601.01 billion, only P7.95 billion or a minuscule 1.32 percent had been paid.
collection
violence, or other criminal means to harm a person, reputation, or property of any person; use of insults or profane language to abuse the borrower; and contacting the borrower’s contact list, other than those names as guarantors or co-makers, among others.
The order stemmed from a complaint filed by a borrower who claimed to have been subjected to unfair collection practices from the financing firm’s third-party collection agents due to payment delays.
Such practices included intercepting him on the road to demand payment, and sending him a series of text messages and communications exerting pressure for the immediate payment of partial amounts, intimating adverse consequences in the event of non-cooperation, among others.
According to the SEC, intercepting the bor-
“You can only succeed if you learn from the lessons of the past, to correct errors whether deliberate or not. If you don’t research properly the causes of the discrepancies, I don’t see how you can succeed,” he said.
Data-sharing
LACSON also said the BIR can potentially triple its tax collections—while detecting tax fraud— by implementing data-sharing with other relevant government agencies.
Cross-referencing with other agencies like the Securities and Exchange Commission, Land Transportation Office and Land Registration Authority, the senator said, can help the BIR find out about taxpayers’ assets including stock in corporations, real estate, as well as motor vehicles.
“You can easily triple your collections with this.”
BIR Commissioner Charlito Martin R. Mendoza said they are revisiting data sharing agreements with various agencies.
Meanwhile, Lacson urged the BIR to intensify its information dissemination efforts on its reforms - including the mechanism to verify LOAs - so taxpayers will be aware of its reforms on LOAs and MOs.
“If the public does not know, they will be susceptible not just to unscrupulous BIR personnel but also criminals posing as BIR personnel,” he said.
Mendoza said the BIR is working on this concern, noting that its online verification system registered at least 6,000 verification requests as of last week.
rower on the road in the absence of a court order or other lawful authority is not a legitimate collection practice and has the tendency to intimidate, restrain or coerce.
Meanwhile, the text messages and communications sent to the complainant were deemed to be tantamount to pressure intended to deter regulatory recourse and undermine consumer protection mechanisms.
“[Global Dominion] cannot evade administrative accountability by attributing the prohibited acts to collection agents or third-party providers,” the SEC said.
“This allocation of responsibility accords with the FCPA IRR [implementing rules and regulation] framework, recognizing solidary responsibility/solidary liability for regulated entities and their accredited third-party service providers engaged in marketing and transacting with financial consumers,” the regulator added.
Bond yields dip amid high demand, dovish BSP cues
By Reine Juvierre Alberto @reine_alberto
YIELDS of the 7-year Treasury bonds (T-bonds) declined on Tuesday, but slightly higher than the secondary benchmark rate, on the back of strong investor demand and dovish signals by the central bank.
Bids for the reissued 7-year T-bonds reached of P80.290 billion, about 2.6 times oversubscribed than the P30billion notes up for sale by the Bureau of the Treasury (BTr).
The average rate of the securities fell to 5.859 percent, a decrease of 7.5 basis points (bps) from the previous auction rate for 7-year T-bonds of 5.934 percent last January 20, 2026.
Secondary market rates under the Philippine Bloomberg Valuation Service (PHP BVAL) settled at 5.803 percent, slightly lower by 5.5bps than the 7-year debt papers.
The comparable 7-year US Treasury bond yield is at 3.95 percent, among five-month highs, but still among 16-month lows.
The Treasury awarded rates for as low as 5.800 percent to as high as 5.875 percent. The 7-year tenor also fetched a coupon rate of 6.625 percent, while their maturity date is set at August 17, 2033.
According to Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort, the 7-year T-bonds yields went down after dovish signals on a possible 25-bp reduction in local key policy rate.
“[This is] amid still benign inflation and after relatively weaker and worse-than-expected local economic/ GDP growth data,” Ricafort said. “But the [Bangko Sentral ng Pilipinas] signaled that it is already near the end of its monetary easing cycle.”
Inflation in January 2026 quickened to 2 percent, faster than the 1.8 percent posted in December 2025, but slower than the 2.9 percent in Janu-
Silver lining
SILVER has been in the news lately hitting an all-time high of $121.62/troy ounce or 31.1034768 grams on January 29, 2026, before crashing into an intraday low of under $75. Last year, silver went from about $29 to $70 for an annual return of more than 140 percent! Given the volatility of silver, is it worth considering taking a long position on this precious metal?
Traditionally, tor thousands of years throughout the world, silver has been used as coinage and currency. Silver shares many similar properties as gold but to a lesser extent such as rarity, malleability, durability, reflectivity and density. As technology advanced, so did the industrial applications of silver, due to their electrical and thermal conductivity, reflectivity and antimicrobial properties. Silver is widely used in solar panels, circuit boards, batteries, medical applications, photography and across many industries.
Due to the increasing demand for silver in coins, bullion, jewelry, technology and industry, there has been a constant shortage of silver for the last five years totaling 820 million ounces with declining output. It is also noticeable that prices of silver in China has also been increasing versus the prices in the US. This is due to a physical demand for silver in China where transactions are done based on actual deliveries; the ones in the US are paper contracts. With demand increasing, supply tightness and a cumulative deficit of 820 million ounces, the rational expectation is that the price of silver has nowhere to go
ary 2025, according to the Philippine Statistics Authority (PSA). Meanwhile, the Philippine economy expanded by 3 percent in the fourth quarter of 2025, resulting in a full-year growth of 4.4 percent.
The BSP is seen to deliver 50-bps rate cuts this year, as the latest inflation print supports continued monetary policy easing, Maybank IBG Research said. (See: https://businessmirror.com.ph/2026/02/09/ gradual-50-bps-rate-cuts-likelythis-year/).
However, the Monetary Board, the BSP’s highest policy-making body, recently reiterated that it views the easing cycle nearing its end. Ricafort added that dovish signals from BSP Governor Eli M. Remolona Jr. of reducing the large banks’ reserve requirement ratio (RRR) to about 2 percent, although not urgent, could add to peso liquidity in the financial system and reduce intermediation costs. Every 1 percent reduction in the RRR could release about P180 billion into the financial system, which may be reinvested in government securities, Ricafort said.
About P232.8 billion in 7-year Tbonds and P282.2 billion in 5-year Tbonds will mature on February 14 and April 8, respectively, this year. Next week, the Treasury will issue fresh 10-year fixed-rate Treasury notes and offer a bond-swap program to raise at least P30 billion. For this month, the government plans to raise P108 billion from via Treasury bills and up to P200 billion through T-bonds.
The government aims to borrow a total of P2.682 trillion this year, following a 77:23 financing mix in favor of domestic sources.
As of end-2025, the national government’s outstanding debt reached P17.707 trillion, while the debt-toGDP settled at 63.2 percent—the highest in 20 years.
but up. Undoubtedly there would be volatility price swings but these are more due to artificial attempts by people and institutions who have taken a short position and have no actual silver on hand to try to influence the price of silver.
There is also a direct correlation between the price of gold and silver and this is known as the gold silver ratio, which is how much silver is needed to equal the price of gold. In the 21st century, this ratio has generally ranged between 50:1 to 70:1, with short bursts below 50 to as much as 100. At the current prices of gold and silver, this ratio is at 55.
Is there really a silver lining for silver? Compared to gold, we should note two things. First is that silver has higher industrial use and second is that while silver stockpiles are declining, gold is rising! You also need to consider in what form of silver should you keep your investment in?
Given a choice between a piece of paper saying you own so much silver, you would be much better off keeping it in physical form you can touch and have access to at any time. I think keeping it in common silver coins such as American Silver Eagles, Morgan or Peace Dollars, USPI Peso Coins and many others that are easily recognizable is practical.
While there are many fakes, check the dimensions of diameter, thickness and
weight of the specific coin. More sophisticated methods to check if it is actually silver can be done, such as using the ping method, acid and silver testers.
Coins which are normally around one ounce are easier to transact and test compared to 1-kilogram, 10-kilogram or even larger ingot sizes. They also have numismatic value which may have a much higher premium over the silver spot price. While the supply of silver coins and bullion may not be readily available in the Philippines, they are quite common in other countries such as the US, Canada, UK and China where you can literally walk into bullion dealer or mint to buy gold and silver coins and ingots.
You may be concerned that keeping your money in silver does not earn you interest. You have to realize that gold and silver spot prices are quoted in dollars. Even with interest, the peso has not been able to keep up with the value of the US dollar plus you will most likely have a capital gain on silver.
The new age of silver has arrived!
The views and comments of Dr. George S. Chua
FINEX FREE ENTERPRISE
George S. Chua
Jollibee named Grand Champion at Dinagyang 2026 Mardi Gras Parade
FASTFOOD giant Jollibee (www.jollibee. com.ph) emerged as Grand Champion at the 2026 Dinagyang Festival’s Mardi Gras Parade of Sponsors, one of the most anticipated events of the annual cultural celebration, drawing thousands of spectators to Iloilo City.
The country’s leading fastfood chain bested other parade entries with a vibrant presentation inspired by its iconic Chickenjoy and Yumburger, brought to life through energetic street dance performances by students of the Iloilo National High School. The entry featured dynamic choreography, festive music, and colorful costumes that reflected both local culture and the brand’s joyful identity.
Aside from the Grand Champion title, Jollibee also garnered multiple special awards, including Best Street Dance, Best Festive Music, Best Festive Mascot, Best Festive Costume, and Best Festive Marquee.
“Being recognized at the Dinagyang Festival is deeply meaningful for us,” said Dorothy Ching, vice president for marketing of Jollibee Philippines. “But beyond the awards, what truly matters is being able to share moments of joy with the community and celebrate the rich culture and spirit of Iloilo together with the Ilonggos.”
Jollibee also drew large crowds during the ILOmination Float Parade, where its illuminated float and the Jollibee and Friends mascots engaged festivalgoers with lively dance performances, adding to the festive atmosphere of the city-wide celebration.
The brand’s Dinagyang activities began earlier in the month with a media day that offered partners a preview of its festival initiatives. Travelers arriving at the Iloilo International Airport were also welcomed by the Jollibee mascot, helping set a festive tone as visitors entered the city.
Throughout the festival period, Jollibee stores across Iloilo featured Dinagyang-themed decorations and activities, transforming branches into gathering spaces for families. The company also rolled out its “Likha Local: JOYful Arts Program,” an initiative that encouraged children to participate in the festivities through art and creative expression.
Caught between two bosses
REPORTING to two supervisors can feel like trying to follow two maps that lead to the same place through different roads.
You want to do well, stay professional, and keep your stress level within reason, yet you often feel pulled in competing directions. If you have ever received two urgent requests at the same time, each marked as top priority, you know how quickly your confidence can turn into quiet panic. You are not alone in this experience, and you are not incapable. You are navigating a structure that requires more communication and clarity than most roles demand.
The first shift happens in your mindset. Instead of seeing two supervisors as a problem, try viewing them as two sources of guidance and influence. Each person likely brings a different strength, perspective, or area of focus. One may think of the big picture while the other pays close attention to details. When you stop assuming that conflict is inevitable, you create space for collaboration. You also reduce the emotional charge that makes every mixed message feel personal. This mental reset gives you an anchor when expectations start to blur.
Clarity becomes your most valuable tool. You cannot read minds, and you are not even expected to. When you receive a task, repeat your understanding in simple terms. You might say that you want to confirm your understanding of the deadline and the outcome that matters most. This small step prevents many future misunderstandings. It also shows both supervisors that you take responsibility for accuracy. Over time, they may start giving clearer instructions because they see how seriously you treat alignment.
Conflicting priorities will still appear, and that is where transparency helps. If Supervisor A asks for a report by tomorrow while Supervisor B needs a presentation at the same time, do not try to solve the clash alone in silence. Explain the situation to both by using neutral language. You can say that you have two urgent tasks and you want guidance on which should come first. This approach shifts the decision back to the people who set the priorities. It protects your time and prevents quiet resentment that grows when you feel forced to guess.
Written communication can become your safety net. After important conversations, send a short summary of what you agreed to do and when you will deliver the work. Keep the tone calm and factual. This record reduces confusion later and gives everyone a shared reference point. If directions change, you can adjust the plan openly instead of scrambling in private. You are not documenting to defend yourself. You are documenting to support shared understanding.
Boundaries also play an important role in your balance. Being helpful does not mean being endlessly available. If you constantly accept last minute work without discussion, both supervisors may assume that your time has no limits. You can respond with respect while still naming your capacity. For example, you can say that you can take on the new task and
deliver it by a certain day because you are finishing another assignment first. This shows commitment and realism at the same time.
Relationships matter as much as logistics. Make an effort to understand what success looks like for each supervisor. One might value speed and quick updates, while the other values thorough analysis. When you learn these preferences, you can adjust how you present your work. You are not changing who you are. You are communicating in ways that help each person feel supported. This reduces friction and builds trust that carries you through busy periods.
Stress management deserves attention as well. Dual reporting lines can create a constant sense of urgency, which wears you down over time. Build small recovery moments into your day. Step away from your
Your smartest career move might terrify you
EMIL ALLAN CAPILI remembers the sweaty palms. The cold hands. The hyperventilation. Here was a man who had spent 30 years in the restaurant business, managing everything from supply chains to construction projects. A seasoned professional being groomed for CEO. And he was terrified to raise his hand in class.
“Public speaking was also my fear since high school, so I get nervous (sweaty, cold palms, and hyperventilation) whenever I talk in front of a lot of people,” he admits. At 43, after 15 years away from school, the doubts were relentless. “Kaya ko pa ba mag-aral ulit? At age 43, my memory has not been as sharp as it was 15 years ago.”
If this sounds familiar—the nagging feeling that you should go back to school but fear that you’re too old, too busy, too far removed from student life—you’re not alone. And according to executives who’ve made the leap, that fear is exactly what’s holding you back from the next level of your career.
Capili’s story starts where many mid-career professionals find themselves: successful, but stuck. He was already a key leader at Biggs, a beloved restaurant institution in Bicol. He knew operations inside and out—literally everything from restaurant operations and supply chain management to procurement, branding, marketing, and franchising.
But here’s the thing about being really good at your
job: you can run the day-to-day brilliantly and still have no idea how to lead the future.
“The Chief Executive Officer varies from the COO as the former is the ‘visionary’ of the company,” Capili explains. “The CEO lives in the future, and it is his responsibility to chart the future course of the company.”
That’s the gap graduate education fills—not teaching you how to do your current job better, but preparing you for the job you don’t have yet.
What Capili didn’t expect was that his biggest breakthrough wouldn’t come from a business strategy course. It came from Self-Mastery, a first-term class that forced him to confront an uncomfortable truth.
“I realized that there were times in my career wherein I was not happy and was on the brink of quitting because of the friction between work and personal life (missed family gatherings because of work, neglecting my family because of tight work schedule, etc). I found out that the two should be aligned and not in friction against the other,” he shares.
This is what no one tells you about going back to school at this stage. Yes, you’ll learn frameworks and strategies, but you’ll also figure out why you’ve been running so hard and whether you’re even running in the right direction. In his back-to-school journey, he not only discovered exceptional frameworks that allowed him to skip the costly “trial and error” stage of running a business, but he also discovered his personal purpose.
For the Master in Entrepreneurship program that’s
supposed to be about business, that’s pretty life changing. If you’re expecting this to be about salary bumps and promotions, you’re missing the point. Capili talks about ROI differently.
“Mental models or business frameworks are hacks or shortcuts in life. It allows you to see patterns that other people do not automatically see.” Capili explains. “Through rigorous framework teachings, it’s like I suddenly have the best 30-seconder brain that I can quickly and effortlessly spot solutions to business problems just by applying the appropriate framework to the problem.”
If you’re reading this and thinking “maybe someday,” here’s what they’d like to leave you with. Capili gets directly to the heart of the matter: “Enrolling in a masters program will give you two things: knowledge and network. As they say, chickens walk with chickens, eagles fly with eagles, and students of the Asian Institute of Management (AIM) are no chickens… They are the best, brightest, and most motivated in their field, and when you hang out with these people, chances are you will tend to assimilate how they think, how they analyze things, how they attack and solve problems... You cannot actually make P1 million hanging around people with a P20 mindset.”
A new year isn’t magical, and let’s be honest: going back to school while working full-time is brutal to say the least. But it is a natural point to ask yourself, “Am I learning fast enough to stay relevant? Am I building the
screen for a short walk, stretch, or even for a healthy snack. These pauses are not wasted time. They help your mind reset so you can respond thoughtfully instead of reacting under pressure. A calm response often prevents bigger problems later.
Finally, remember that your role is to do your job well, not to absorb every tension in the system. When communication is unclear or priorities clash, that does not mean you have failed. It often means the structure needs adjustment. By asking clear questions, sharing updates, and setting realistic expectations, you become a stabilizing force in a complex setup. You may not control the number of supervisors in your title, but you can control how you show up each day. With steady communication and healthy limits, you can succeed under two leaders without losing yourself in the process.
skills for the role I want, not just the one I have? Can I afford to wait another year?”
This story proves that the gap between where you are and where you want to be isn’t about age or memory or how long you’ve been out of school. It’s about deciding that staying comfortable is riskier than pushing yourself to grow. And sometimes, the bravest thing a successful professional can do is admit they still have a lot to learn.
The Asian Institute of Management (AIM) is an Asian pioneer in management education. Founded in 1968 by a consortium of prominent business leaders, Philippine academic institutions, and the Harvard Business School Advisory Group, AIM ranks among the top institutions in the region. Throughout its history, the Institute has sought to empower students to thrive in challenging, rapidly shifting environments. It achieves this by encouraging a more considerate, effective, and sustainable approach to business and society. More information can be found at aim.edu.
Enchanted Kingdom, two other Filipino companies win ASEAN tourism awards
Now on its 30th year, Enchanted Kingdom (EK) was hailed as the Best ASEAN New Tourism Attraction for its unique flying theater, AGILA The EKsperience: SARIBUHAY as awarded by the ASEAN Tourism Association (ASEANTA).
The award was received by EK Chairman and President Cesar Mario O. Mamon together with Chief Operating Officer Dr. Cynthia R. Mamon during the 35th ASEANTA Excellence Awards held on January 27, 2026 at JPark Island Resorts and Waterpark in Mactan, Cebu.
As part of the 45th ASEAN Tourism Forum (ATF), the ASEANTA Excellence Awards 2026 honored “creativity, innovation, and dedication that drive the tourism industry forward” in the Southeast Asia region.
“We are deeply honored and humbled to represent Filipino excellence in tourism and entertainment in this prestigious platform in the ASEAN community. This award fuels our commitment to continuously provide magical experiences like AGILA The EKsperience: SARIBUHAY that also contributes towards our shared mission of sustainable tourism,” shared Dr. Mamon.
As the first and only flying theater in the Philippines that’s also a part of EK’s Education Program, AGILA The EKsperience: SARIBUHAY has been going above and beyond its core mission to drive educational tourism and
national pride by showcasing the natural beauty of the country ever since it was first introduced in 2016.
EK relaunched this attraction last October as part of the theme park’s 30th anniversary celebration, now serving as a powerful call to action, reminding everyone of the urgent need to conserve and protect the environment. With its enhanced film and overall thematic experience, the flying theater now also takes guests on a magical journey underwater as it features various local marine ecosystems along with some of its diverse yet endangered wildlife.
Aside from EK, two other Filipino companies were also awarded, namely the Muntinlupa-based destination management agency Shroff Travel as the Best Asean Travel Article, and the premier event space SMX Convention Center as the Best ASEAN Convention Centre.
Present at the opening of Wilcon Depot Salawag were, from left, Wilcon Depot - AVP for Sales and Operations, Catherine Guingab; Mariwasa President, Nipan Boonbandarn; Leader, Philippines, LWT APAC Hermie Limbo; Dasmariñas City Vice Mayor Elpidio “Third” Barzaga III; Wilcon Depot President and CEO Lorraine Belo-Cincochan; Dasmariñas City Mayor Jennifer “Jenny” Austria-Barzaga; GT Stoneworks President, Gary James Go; HCG President Eugene Lin; and Kohler Co - Country Manager, Pio Enrique Gutierrez.
THE country’s leading home improvement and construction supplies retailer, Wilcon Depot, sustained its momentum in nationwide expansion after marking a significant milestone with the simultaneous opening of its two new branches in Salawag, Dasmariñas, Cavite and Angeles City, Pampanga on January 30, 2026.
The expansion across CALABARZON and Central Luzon underscores Wilcon Depot’s strong commitment to bringing quality, accessible, and reliable home improvement solutions closer to Filipino communities, regardless of the distance.
In CALABARZON, the opening of Wilcon Depot Salawag represents the company’s 10th store in Cavite, affirming its strong presence in one of the Philippines’ fastest-growing and most dynamic provinces. This newest addition complements Wilcon’s existing Cavite branches located in Naic, General Trias, Bacoor, Silang, Kawit, Paliparan, Pala-Pala, Tagaytay, and the recently launched Carmona store.
With the opening of its Salawag branch, Wilcon Depot brings greater access to high-quality and sustainable home improvement solutions, including water-efficient products from brands such as Sefa and
Pozzi, designed to promote responsible water use.
Dasmariñas City Mayor Jennifer ‘’Jenny’’ AustriaBarzaga said the opening of Wilcon Depot in Salawag marks not only the company’s continued growth, but also another milestone in the city’s ongoing development.
‘’We welcome Wilcon Depot as a valued partner in progress. Your presence here brings new opportunities [like] job opportunities, and of course, accessibility para sa mga mamimili natin,’’ she added.
Meanwhile, Wilcon Depot’s Angeles City opening further strengthens the company’s reach in Central Luzon, becoming its sixth branch in Pampanga. The new store joins Wilcon’s existing locations in Dolores and San Nicolas in San Fernando, Mexico, Pampanga, Dau in Mabalacat, and Lubao - home to Wilcon’s notable 100th store.
Representing Angeles City Mayor Hon. Carmelo
‘’Jon’’ Lazatin at the opening, City Information Officer Jose Aubre Pelayo IV conveyed the mayor’s warm greetings and enthusiasm for the new Wilcon Depot store. He notes that the store’s presence signals further growth and development for the city.
Pelayo IV mentioned that Angeleños welcomes the opening, as it makes home and construction solutions more accessible and supports Angeles City’s goal of
Shroff Travel was represented by its Chief Executive Officer, Arjun Shroff, while Walid Wafik, Senior Vice President–Operations of SM Hotels and Conventions Corp. (SMHCC), received the award for SMX Convention Center during the award ceremony. Guests can experience EK’s awardwinning attraction along with its other rides and offerings from Wednesdays to Sundays, 11 am to 8 pm. Park and ride schedules are subject to change without prior notice.
For more information and updates regarding AGILA The EKsperience: SARIBUHAY and EK’s other forever enchanting events and offers, visit https://www.enchantedkingdom.ph and EK’s official social media accounts @enchantedkingdom.ph for Facebook and TikTok, and @ek_philippines for Instagram.
becoming a thriving metropolis. ‘’Finally, we have a Wilcon Depot na masasabi nating dito sa Angeles City. We don’t need to go as far as Dau (Mabalacat) at saka do’n sa other end ng City of San Fernando.’’ He added.
Wilcon Depot President and CEO Ms. Lorraine BeloCincochan shared in her speech that the meaningful back-to-back store openings in Salawag and Angeles are a powerful expression of Wilcon’s Tatag in actionthe resilience that keeps the company moving forward, the courage to expand, and the consistency to serve the communities wherever they needed.
‘’Each new store is more than a milestone - it is our commitment to empower local communities, create opportunities, and help build better homes and stronger futures for the Filipino families. Wilcon’s ‘Tatag’ trait emphasizes that growth is a shared journey of progress across the nation,” she added.
For nearly five decades, Wilcon Depot has been the trusted destination for a wide and high-quality range of products - from tiles, sanitaryware, and furniture to construction materials and DIY essentials. Through its value-for-money offerings from both local and international brands such as Heim, Grohe, Kohler, Pozzi, Franke, Hills, and P.Tech, Wilcon continues to empower Filipino households to build safer, more functional, and more beautiful living spaces.
Wilcon Depot Salawag is located along MolinoPaliparan Road in Barangay Salawag, Dasmariñas, Cavite, while Wilcon Depot Angeles stands along the Fil-Am Friendship Highway in Barangay Sto. Domingo, Angeles City, Pampanga. Both branches are open daily from 8:00 AM to 7:00 PM.
Customers may also shop online at shop.wilcon. com.ph or through Wilcon’s Call, Collect and Deliver (CCD) Program via branch Viber numbers or the 88-WILCON Hotline (02) 88-945266. For more information about Wilcon, visit www. wilcon.com.ph or follow their social media accounts on Facebook, Instagram, and TikTok, or subscribe and connect with them on Viber Community, LinkedIn, and YouTube. Or you may contact Wilcon Depot Hotline at 88-WILCON (88-945266) for inquiries.
GSIS commits to targeted measures for remote area service delivery in Ifugao
Tto the needs of members and pensioners in far-flung areas.
GSIS President and General Manager Wick Veloso said the engagement will help shape reforms through direct conversations with members and pensioners, ensuring that improvements are grounded in their actual experiences.
“We want to hear your stories, struggles, and ideas because you are on the frontlines of public service. Because you serve in places like Ifugao, where travel is harder and resources are fewer, you deserve more attention, not less. What can we do? How can we help you?” Veloso said.
As part of its focused measures presented during the dialogue, GSIS will expand its on-site presence in government offices, building on existing service desks and mobile caravans. These efforts will prioritize transactions requiring personal assistance such as enrollment, record updates, and claims concerns, to reduce follow-up visits.
“Education is the foundation of the future, and connectivity is now essential to learning and public service. That is why we are exploring satellite connectivity for public schools and nearby government offices in Ifugao. We hope to establish satellite-powered GSIS service desks that schools can also use for Wi-Fi access, helping students gain a window to the world while enabling government employees to access GSIS services more quickly and reliably,” Veloso said.
“We are also developing a model that can be adopted by the private sector so they, too, can contribute. Since satellite connectivity costs about P3,000 a month or P36,000 a year, private companies supporting Adopt-a-School can help sustain this annually. If we can start this together, we can
encourage more corporations to take part, knowing that GSIS is also doing its share,” Veloso added.
“The rice terraces of Ifugao were not built in one day. They were built slowly, patiently, together, stone by stone, generation by generation. That’s how trust is built too. Step by step. Listening first. Helping sincerely,” said Veloso as he assured stakeholders of GSIS’s assistance and expressed plans to return to the province.
GSIS will continue conducting dialogues nationwide to ensure that reforms remain anchored on member feedback and that the agency stays present and responsive in communities across the country. During the dialogue, the GSIS Touch mobile application and the Adopt-a-School Program were discussed. Executives
Standardized training for agency authorized officers, complete with checklists and templates, will be rolled out. GSIS will also establish more direct communication lines between the GSIS Bayombong Branch and agency representatives and further systematize coordination on premium reconciliation with government agencies in Ifugao.
THIS coming Valentine’s weekend, Discovery Suites invites couples to slow down, savor quiet moments, and celebrate love with thoughtfully crafted experiences. From a relaxing city staycation to an intimate seven-course degustation, the hotel has two Valentine’s offers designed to turn moments to lasting memories.
Suite Indulgence: Valentine’s Edition
For those who prefer to have a quiet urban escape, a weekend Suite Indulgence is offered for the coming weekend at P6,000 nett per night for an overnight stay in a one-Bedroom Suite. Guests are welcomed into a spacious suite made for unhurried mornings, worthwhile conversations, and meaningful time together. Exclusively for the weekend, guests who avail of the package are entitled to a 15 percent discount to 22 Prime’s seven-course degustation dinner happening on February 13 to 14, 2026.
Table for Two: A Valentine’s Evening to Remember Celebrate romance at 22 Prime, Discovery Suites’ award-winning steakhouse, with Table for Two, featuring a curated sevencourse degustation where each course is crafted to tell a story – story of romance, indulgence, and unforgettable moments shared over the table.
Begin your gastronomic journey with homemade Sundried Sourdough bread served with three specialty spreads (pesto, truffle honey, and garlic butter), followed by Foie Gras Mousse with lumpfish caviar. Freshness comes through with the Yellow Fin Tuna & Arugula Salad, before a refreshing Green Mango Mint Sorbet that gently resets the palate. At the heart of the experience is an elevated Surf ‘n Turf experience featuring Prime Ribeye Steak
and Boston lobster, complemented by seaweed purée, chanterelle mushrooms, sweet cherry tomatoes, and red wine jus.
Conclude the evening with His and Hers Sweet Ending, featuring a Chocolate Raspberry Indulgence with 55 percent Belgian chocolate, raspberry mousse and raspberry coulis, offering a finale that is rich, romantic, and perfectly unhurried. Diners will be serenaded with a live saxophonist to complete the night.
Couples may choose between premium window side seating at P10,999 nett per couple, which includes a bottle of Gufo Merlot Vino Varietale D’Italia or Bosio Moscato d’Asti, or classic seating at P9,999 nett, and comes with two glasses of Gufo Merlot Vino Varietale D’Italia or Bosio Moscato d’Asti
Suite Indulgence X Table For Two
Surprise your loved one with a meaningful celebration by available both of the offers at P14,999 nett which includes an overnight stay in a one-bedroom suite, buffet breakfast, and the seven-course degustation for two persons.
“Valentine’s celebrations don’t have to be loud and extravagant to be meaningful,” said Glaiza Santos, Director of Sales and Marketing of Discovery Suites. “Our offers were designed to give couples spaces to slow down, connect, and enjoy experiences that’s intimate, sincere and intentionally crafted.” With the perfect balance of comfort and gastronomic indulgence, Discovery Suites offers a celebration that feels less of an event but more like a shared memory for couples.
Learn more about our offers at www. discoverysuites.com. For reservations and menu inquiries, call (+632) 7719 8888 | (0966) 496 2355.
Stakeholders in Ifugao join GSIS President and General Manager Wick Veloso and executives in an open dialogue to discuss access, connectivity, and service delivery challenges in remote communities. Insights from the dialogue will help guide location-specific measures to make GSIS services more accessible and responsive.
Wilcon Depot continues nationwide expansion with Salawag, Angeles openings
Editor: Tet Andolong
BusinessMirror
Inventory of Metro Manila’s middle market condos drops to 7.9 years’ worth of supply
By Rizal Raoul S. Reyes @brownindio
WHILE Metro Manila’s condominium supply is showing signs of recovery, the road ahead remains steep.
As of early 2026, the inventory of unsold ready-for-occupancy (RFO) units sits at 7.9 years’ worth of supply. Although this marks a significant improvement from the 13.4-year peak seen in mid-2025, it continues to represent a formidable challenge for the market.
“Developers are showing flexibility with easier payment terms and are prudently limiting new launches to manage supply,” Joey Roi Bondoc noted. However, he pointed to a stifling combination of factors: the country’s 4.4 percent economic growth in 2025, the slowest in over a decade outside the pandemic year, and a still persistently high bank mortgage interest rate of 7.6 percent.
ket is transitioning from a period of recovery to one of strategic competition. Whether it is “flight to quality” in offices or “experiential shifts” in retail, the focus has moved firmly onto the quality and utility of space.
Driven by a robust appetite for office space, he pointed out that a strategic evolution in the retail sector, and a resilient industrial corridor, the industry has shown significant recovery and maturation.
Bondoc and multiple speakers urgently called for a swift resolution to the flood control corruption scandal, framing it as both a moral and economic imperative.
On his part, lawyer Moby Arquiza, co-founder of the ASEAN Real Estate Network Alliance (ARENA) said the government must pursue the promised big, bold reforms . “The government should first fix itself,” Arquiza asserted, urging leaders to move beyond too many political conflicts that deter foreign investment. “Our leaders are spending almost 80 percent of their time on politics instead
“For sales to truly stimulate, we need that rate to come down,” he stated. Bondoc also pointed out that due to the real estate crisis, many realty developers are also launching new projects outside Metro Manila,” said Bondoc in the recent Pandesal forum in Quezon City. As of end-2025, there were 178,000 units unsold in Metro Manila central business districts. Meanwhile, completion of units will nearly double in units and will have additional 14,000 units.
of focusing on the economy. We need a shift to concrete economic reforms, more infrastructure projects, and a serious revival of our lagging tourism industry.” He also urged politicians to “please moderate the greed.” Arquiza also pointed out that this present crisis in real estate is an opportunity for buyers to negotiate better prices and payment terms, like as much as 10 percent to 20 percent discount for cash purchases, and also longer terms for downpayment.
The bright side ALBEIT the challenges, property management and consulting firm CBRE Philippines recently said the Philippine real estate market concluded 2025 on a high note, defying a
minor fourth-quarter dip to register its strongest overall performance in half a decade.
“This momentum has carried into 2026, where developer optimism remains high fueled by a robust pipeline of new projects,” said Joe Espinosa, CBRE Philippines country head-advisory head and asset services in the group’s Yearend 2025 market monitor held in Makati City.
In Metro Manila alone, Espinosa said the office sector is braced for significant expansion with over 470,000 square meters of fresh supply expected to come online this year. He added the influx of space signals a strong confidence in the region's continued economic recovery and the evolving demands of
Amenity launch signals strong investor momentum at The Villages at LIMA Estate
ABOITIZ Land, the residential real estate arm of the Aboitiz Group, officially launched the amenity blocks of its Brook and Sierra neighborhoods at The Villages at LIMA Estate (TVLE), marking a major milestone in its promise to deliver future-ready, investment-worthy communities in one of Batangas’ most dynamic economic centers.
This milestone underscores Aboitiz Land’s commitment to elevating property values while enriching the lifestyle experience of its residents. The new amenity blocks—complete with modern clubhouses, swimming pools, play areas, and basketball courts—are not only designed for recreation but also positioned as catalysts for longterm land appreciation and investor confidence.
Proof of promise: Delivering growth, creating value
SINCE their launch, Brook and Sierra, two of LIMA Estate’s most soughtafter neighborhoods, have seen remarkable growth, with over 400 units already turned over to homeowners. Today, these vibrant communities are bustling with moved-in vecinos, reflecting strong demand and a lively neighborhood spirit. The completion of their amenity blocks reinforces
Aboitiz Land’s philosophy of delivering on its promises and strengthens its track record of building not just homes, but high-performing residential assets. These villages exemplify the growing demand for premium, integrated communities in Batangas and demonstrate the company’s ability to create long-term value for both homeowners and investors.
Investment momentum: Property values on the rise THE investor appeal of Brook and Sierra has been undeniable. Property values within these communities have surged since their launch, reflecting both rising demand and the strengthening position of LIMA Estate as a prime location for residential and business activity.
Industry observers point to the unique synergy within the estate: Biz Hub at LIMA Estate, the first and only Central Business District in Batangas featuring over 180 locators and over 71,000 employees, is driving economic activity, employment opportunities, and housing demand. The launch of these amenities further validates the integrated model of the Aboitiz real estate group; embedding lifestyle, commerce, and industrial ecosystems within one master-planned estate.
Investors today are increasingly seeking real estate assets that balance lifestyle appeal with strong capital appreciation. Brook and Sierra exemplify this balance, offering residents a premium living experience while providing investors with sustainable long-term returns. With LIMA Estate’s continued rise as both a business and lifestyle hub, these villages stand out as compelling opportunities in the Philippine real estate market.
Lifestyle and community: More than just homes THE new amenities are designed to
enrich the day-to-day experiences of residents. The Brook and Sierra clubhouses serve as social anchors for gatherings and celebrations, while the swimming pools, basketball courts, and play areas create vibrant spaces for fitness, family bonding, and recreation.
Experiential activities during the launch, such as pickleball and painting classes for children, highlighted the family-oriented vision behind the developments. Tours of LIMA Estate and on-site previews also showcased the integrated value proposition of living within a thriving economic hub.
The Villages at LIMA Estate places its vecinos at the heart of every community it builds. Through the launch of the Brook and Sierra amenities, the development continues to enhance lifestyles and reinforce long-term value, offering spaces where families can create lasting memories and investors can witness the growth potential of LIMA Estate firsthand.
Investors, prospective homeowners, and media are invited to explore the opportunities at The Villages at LIMA Estate—Brook and Sierra. For details on availability, amenities, and future developments, visit the official project page: https://thevillagesatlimaestate.com.ph/.
the modern workforce. “Developers remain aggressive, with a 75 percent preference for reducing or retaining rents during renewals to secure occupants in a high-vacancy environment,” he said.
Despite a cooling period in the fourth quarter—which saw only 165,000 square meters of total demand—the cumulative performance for 2025 reached a staggering 854,600 square meters of overall absorption. “This represents the highest demand recorded in the past five years,” he said.
While the number of transactions increased (from 587 in Q3 to 647 in Q4), he said the average transaction size decreased to 1,262 square meters.
The Philippine real estate mar -
CBRE said the traditional sector has overtaken the information technology-business process management (IT-BPM) sector as the primary driver of demand. IT-BPM’s share fell to its lowest level in five years, significantly impacting the average lease size. “Traditional occupiers and government entities and government entities have stepped up as the primary drivers largely due to “flight to quality” moves and expansion by established local and multinational firms,” Espinosa explained. According to Outsource Accelerator, several IT-BPM firms have made adjustments in their local operations. Although they have maintained their operations in the Philippines, many are downsizing and moving to more cost-effective locations to accommodate permanent hybrid work models.
PNB Holdings and CBRE drive tenant momentum along a changing Ayala Avenue
MAKATI City, Philippines— PNB Holdings Corporation (PHC) continues to see strong tenant growth at PNB Makati Center, as Ayala Avenue evolves into a more lifestyledriven, experienceoriented central business district. With 94 percent occupancy, the property is capturing sustained interest from corporate, wellness, and lifestyle brands seeking strategic, highvalue locations in the corridor.
As part of this momentum, BeFit and Maxicare are set to open at PNB Makati Center, reinforcing the district’s rising appeal to wellnessfocused and peoplecentered businesses. Their entry underscores the growing demand for accessible, healthoriented amenities and integrated services within modern workplace environments.
PNB Holdings’ Chief Risk and Compliance Officer Atty. Michael Leslie D. Delos Reyes highlighted how the property’s tenant mix reflects the direction Ayala Avenue is heading.
“Through our ongoing collaboration with CBRE, we are able to anticipate market needs and ensure our spaces remain attractive, relevant, and positioned for longterm value creation,” Atty. Delos Reyes said.
PHC’s partnership with CBRE has been key to refining its tenant strategy. Backed by market insights and
advisory support, CBRE helps identify suitable locators and align them with spaces that complement the district’s transformation. This datadriven approach continues to strengthen PHC’s ability to curate a futureready tenant ecosystem.
“Ayala Avenue’s evolution is reshaping what tenants look for, with wellnessoriented and lifestyledriven brands becoming more central to the workplace ecosystem,” said CBRE’s Country Head, Jie Espinosa. “Our continued work with PHC ensures the right tenants occupy the right spaces, keeping the district vibrant and competitive.”
Adding to this growth, PHC will soon introduce new food and beverage concepts as it converts a portion of PNB Makati Center’s ground floor into dedicated F&B and retail spaces that will further enhance the streetlevel experience along Ayala Avenue. With a solid tenant pipeline strengthened by wellness providers, serviceoriented businesses, and upcoming dining concepts, PHC expects sustained demand for retail spaces into 2026. As the Makati CBD continues to modernize, PHC remains committed to developing futureready spaces that support the district’s progressive transformation and elevate the overall tenant experience.
B8 Wednesday, February 11, 2026
Dolorito named NCAA Player of the Week
ITH graduating outside
Whitter Johna Dolorito finding her rhythm, Lyceum of the Philippines has strung up three straight victories for an even record in the National Collegiate Athletic Association (NCAA) women’s volleyball tournament. Solid performances against San Sebastian and Mapua in the past week earned Dolorito the NCAA Player of the Week citation from writers covering the beat.
Dolorito won the vote over College of Saint Benilde’s Zam Nolasco, San Beda’s Angel Habacon and Perpetual Help’s Cyrille Almeniana for the citation for the period February 3 to 8.
The Lady Pirates now hold a 3-3 win-loss record.
Dolorito exploded for 26 points on 24 attacks and two aces, while also tallying nine excellent digs, as Lyceum swept San Sebastian, 28-26, 25-23, 25-18, 25-18. She had 17 points from 12 attacks, three aces, and two blocks, and made 15 excellent digs, in a 25-13, 25-15, 23-25, 15-25, 15-13 win over Mapua.
Emilio Aguinaldo College opposite hitter Jan Ruther Abor earned the citation for the men’s side.
Abor, who entered Season 101 seeking redemption after his previous season was cut short by an ankle injury, won the vote over San Beda’s Axel Van Book and Perpetual Help’s Klint Mateo and Marc Tangon.
He scored at least 30 points in three straight matches.
Abor scored 32 to power EAC past Lyceum in four sets, had 36 points in a five-setter against defending champion Arellano, ansd came up with 30 points in another five-setter against Perpetual Help.
From chemo to court: Topic defies the odds
OKLAHOMA CITY—Oklahoma City Thunder prospect Nikola Topic has made his NBA G League debut after recovering from a major knee injury and undergoing cancer treatment.
Topic had seven points and seven assists in 16 minutes for the Oklahoma City Blue in their 137-135 overtime victory over the Sioux Falls Skyforce on Monday night.
“We’re all just collectively thrilled that he’s back playing basketball,” Thunder coach Mark Daigneault Daigneault said. “I know he’s missed it a great deal, and this is just so good for him mentally to get his feet back underneath him.” The G League game was another remarkable step forward for Topic, who has barely played basketball since the Thunder made him the 12th overall pick in the 2024 draft.
Oklahoma City chose the Serbian guard even though he had torn a ligament in his knee two months earlier, and the injury sidelined him for his entire first season in North America.
Topic played for Oklahoma City in summer league games last year and appeared again in
Frayna holds slim lead with two rounds to play
ANELLE MAE FRAYNA found
Jteener Kate Ordizo a tough nut to crack and ended up halving the point in 35 moves of a Gruenfeld on Tuesday to keep her grip on the lead after 13 rounds of the Philippine National Women’s Chess Championship in Malolos, Bulacan. Frayna, 29, hiked her total to 10 points, half a point ahead of Ruelle Canino, who drew her match against Apple Rubin in 62 moves of a Sicilian Defense with two rounds left.
Chasing Alex Eala
Jan Jodilyn Fronda and Bernadette Galas scored wins to close in at joint third with nine points each.
Fronda used her queenside passed pawn to outlast Bonjoure Suyamin in 86 moves while Galas made the most out of her pawn advantage to turn back Mhage Sebastian in 64 moves in a pair of razor-sharp Sicilian showdowns.
The four are expected to go all out for victories in the last two rounds of the event offering three outright berths
the Thunder’s preseason, but was subsequently diagnosed with testicular cancer. He underwent chemotherapy before working his way back into playing shape again.
“Great accomplishment,” Daigneault said.
“Just can’t say enough about him as a guy, his mental toughness, maturity, resilience.... He hasn’t played a lot of basketball over the last two years, and he comes off a one-year rehab and immediately has a surprising diagnosis and goes through chemotherapy, three rounds of it. So for him to work himself back onto the court is just an unbelievable accomplishment, and we’re incredibly happy for him.”
Curry to sit out All-Star Game
STEPHEN CURRY will sit out the All-Star Game in Los Angeles because of his troublesome right knee that sidelined the Golden State Warriors star for a fourth straight game Monday night against Memphis.
Coach Steve Kerr announced before the game that Curry also wouldn’t play Wednesday at home against San Antonio and then would sit out the All-Star Game on Sunday in hopes of a return for the Warriors after the break.
“He’s doing well,” Kerr said. “It’s really kind of a day-to-day thing, so it’s hard to predict for sure whether he’ll be playing in that first game after the break but that’s definitely the hope, and if he is, if he can get through everything this week, then that puts him on pace to be playing.” Golden State’s first game after the break is February 19 against Boston at Chase Center.
to this September’s Chess Olympiad in Samarkand, Uzbekistan.
Ar No. 5 with eight points was Allaney Jia Doroy, who shocked Shania Mae Mendoza in 86 moves of a Pirc.
The event dubbed as “The Battle of Women’s Masters” is backed by city Mayor Christian Natividad and the Philippine Sports Commission.
Super Spikers down Foxies to take solo PVL lead
CIGNAL moved into the solo lead of the Premier Volleyball League AllFilipino Conference eliminations with a 25-17, 26-24, 20-25, 30-28 victory over Farm Fresh on Tuesday night at the Mall of Asia Arena.
The Super Spikers erased a five-point deficit in the second set, absorbed a third-set setback, then dug deep in a nerve-racking fourth frame—saving two set points and trading blows through a series of heart-stopping 1-2 plays—before finally breaking through in a two-hour, 10-minute war of nerves.
Vanie Gandler exploded for 25 points while delivering a masterclass in all-around play as the Super Spikers scored their third win in as many matches.
The Alas Pilipinas standout piled up 17 excellent digs and 15 receptions.
“Everything we trained for showed today,” said Gandler. “I’m happy I was able to help the team get this win.”
Cignal earlier defeated Galeries Tower and Choco Mucho.
Curry, who will turn 38 on March 14, exited early from a 131-124 home loss to the Detroit Pistons on January 30 with the sore knee that Kerr said had been bothering him over the previous week. He then had an MRI exam. Curry missed his 15th game overall this season, with the Warriors going 5-9 over the initial 14—three with an illness, five with a left quadriceps contusion, one with a sore right ankle, one with a sprained left ankle, one with inflammation in his right knee and now four with the patellofemoral pain syndrome.
The Warriors are also missing Curry’s backcourt mate, Jimmy Butler, who underwent surgery Monday for a torn anterior cruciate ligament in his right knee sustained against his former Miami team on January 19.
Butler undergoes knee surgery
GOLDEN State Warriors guard Jimmy Butler underwent right knee surgery Monday for his torn anterior cruciate ligament, an injury that ended his season last month. The surgery was performed by Dr. Bert Mandelbaum in Los Angeles, and the team said he would begin a rehabilitation program immediately with an update on his progress expected early next season.
Coach Steve Kerr hadn’t spoken with Butler, who will be immobilized for some time before he is able to rejoin the team and likely watch from the bench before season’s end. Vice President of Player Health and Performance Rick Celebrini accompanied Butler for the operation. AP
Erika Santos poured in 15 points, including clutch conversions amid the late chaos, while playmaker Gel Cayuna steadied the offense with 19 excellent sets and timely 1-2 plays that repeatedly kept Farm Fresh guessing.
Cignal clawed back from a 2224 hole to take a 27-26 edge. Jacqui
Acuña’s running attack shattered one deadlock, Royse Tubino answered, and tension peaked with every rally. But as the Foxies began to crack—highlighted by a rare foot fault by Riri Meneses that handed Cignal another match point— the Super Spikers stayed locked in.
The victory also set the stage for a tantalizing showdown against fellow unbeaten Nxled (2-0) at the Ynares Center in Antipolo on Saturday.
But for Gandler and the Super Spikers, sustaining the streak starts with discipline.
“Tomorrow is a new day,” said Gandler, who also battled gastroenteritis on Monday. “We focus on recovery, then it’s back to work.” Farm Fresh absorbed another heartbreaking loss after a similar collapse against Nxled last February
3. Trisha Tubu led the Foxies with 19 points, while veterans Ces Molina and Royse Tubino added 18 and 14, respectively.
and DATEM founder Arnold De Asis. Through initiatives such as the Founder’s Cup, National University continues to strengthen partnerships and mobilize resources in support of its mission to provide accessible, quality education and empower future generations of Filipino leaders.
JOHNA DOLORITO stars as the Lady Pirates get back into contention. NCAA
VANIE GANDLER stars as Cignal makes it three straight wins. PVL
NIKOLA TOPIC resumes his quest to make it to the NBA after finishing chemotherapy in January. AP
