BusinessMirror February 13, 2026

PHL income may triple by ’40 on higher productivity

By Justine Xyrah Garcia

tailwinds

EMOGRAPHIC

that powered the Philippines’s rapid expansion over the past decade will no longer be enough to sustain growth, with the Organisation for Economic Co-operation and Development (OECD) warning that the country must sharply accelerate productivity over the next 15 years to meet its long-term income ambition. In its 2026 economic survey released on Thursday, the Parisbased body said annual productivity growth will need to rise to 5.2 percent between 2025 and 2040, up from 4.5 percent in the prepan-

THEPhilippines could generate more revenues by gradually removing major value-added tax (VAT) exemptions, phasing out income tax holidays and adopting an emissions trading system (ETS), according to the Organisation for Economic Cooperation and Development (OECD).

At the launch of the OECD Economic Survey and Action Plan of the Philippines, OECD Secretary General Mathias Cormann said the country has significant opportunities to optimize and mobilize tax revenues, specifically the VAT, to address rising spending pressures.

“Current arrangements [in VAT] are more inefficient than they need to be and more inefficient than they are in some peer countries in the region,” Cormann said.

According to OECD’s findings, the Philippines collects only about 45 percent of its potential VAT revenues—one of the lowest among Southeast Asian peers.

Fully closing the gap between actual and potential revenue collection, OECD said, would yield an additional VAT revenue of about 6.5 percent of GDP.

“Reducing the VAT policy gap through base-broadening measures would likely be more growth-friendly than raising tax

rates,” it added. The OECD said replacing VAT exemptions for private education, private healthcare and senior citizens with targeted social transfers and adopting compliance risk management tools to accelerate VAT refunds could raise revenue by about 1.2 percent of GDP. These exemptions, it said, could be replaced by targeted social transfers that deliver support more efficiently to low-income households.

Meanwhile, the OECD warned that income-based tax holidays risk granting generous and untargeted benefits to highly profitable firms without necessarily stimulating real economic activity. The OECD suggested that the Philippines gradually phase out corporate income tax holidays and shift toward cost-based incentives to realign incentives with efficiency and fiscal discipline, potentially boosting revenues by about 0.3 percent of GDP.

By Andrea San Juan @andreasanjuan

Ravelas explained that

“slower loan growth also played a role—fewer new loans mean fewer potential problem accounts entering the system.”

demic period, to keep the 2040 income objective within reach.

The target stems from AmBisyon Natin 2040, the development blueprint adopted in 2016 that seeks to approximately triple the country’s per capita income.

Achieving that ambition would require average gross domestic product (GDP) growth of about 6 percent annually from 2025 to 2040, well above the 4.8 percent average recorded between 2011 and 2024.

The composition of growth is changing, however. The contribution of population growth to GDP expansion is projected to decline from about 2 percentage points in

2011 to 2019 to just 0.8 percentage point over 2025 to 2040, as the demographic dividend gradually fades.

With weaker demographic support, productivity gains will need to account for a much larger share of overall expansion.

“To achieve a boost to productivity growth of this scale, an ambitious package of structural reforms will be needed centered on stronger competition. Stronger competition can boost cost efficiency, innovation, adoption of new technologies and, consequently, productivity,” OECD Secretary-General Mathias Cormann said at the survey launch.

The OECD pointed to network industries—particularly electricity and telecommunications—as key constraints on productivity. In the power sector, despite formal unbundling of generation, transmission and distribution, vertical integration persists, limiting effective competition. Cormann said requiring distribution companies to divest of generation assets and exit retail supply activities would help strengthen market discipline. Industrial electricity prices in the Philippines stand near USD 0.15 per kilowatt-hour, about 50 percent higher than rates in Indonesia and Vietnam, according to the survey.

By Justine Xyrah Garcia

DESPITE last year’s economic slowdown and widespread job losses, the so-called “Prophet of Boom” believes the Philippines remains on track to achieve upper middle-income country (UMIC) status within the year.

University of Asia and the Pacific (UA&P) economist Bernardo M. Villegas said the country could cross the World Bank’s income threshold for UMIC classification as early as September 2026.

“We’ve been moving towards $4,500 very closely...It’s just a little more,” Villegas told reporters in a chance interview.

He said that even with gross domestic product (GDP) growth slowing to 4.4 percent last year—1.2 percentage points lower than the previous year—the expansion was still enough to push gross national income (GNI) per capita closer to the required benchmark.

The Philippines remains classified as a lower middle-income country, with GNI per capita at $4,470. The World Bank sets the UMIC threshold at $4,496 to $13,935, while economies with GNI per capita above $13,935 are considered high income.

Villegas acknowledged the possibility of a global slowdown this year due to shifting economic poli-

cies in the United States; however, he said the Philippines would not be significantly affected.

“Global, there will be a slowdown definitely...because of the tariffs being imposed in all the exporting countries. But we’re not really affected, because we’re an exporting country,” he said.

He also played down concerns about a potential depreciation of the peso to as weak as P60 against the US dollar, saying the Bangko Sentral ng Pilipinas is “very skillful in controlling that.”

Corruption won’t derail growth MEANWHILE , Villegas also said corruption would no longer signifi-

cantly dampen investor sentiment this year, citing what he described as a renewed emphasis on infrastructure implementation.

“I think the corruption problem is not going to be obstructing anymore. In the first quarter, the government will demonstrate that they can actually implement the infrastructure projects,” he said. He expects full-year economic growth to reach 5.6 percent, with inflation averaging between 2 percent and 3 percent.

“Foreign direct investors are not really being discouraged by the corruption...FDIs, as long as they have the right partners, they can live with corruption,” he added.

By Reine Juvierre S. Alberto @reine_alberto

The OECD also called for the personal income tax (PIT) base to be broadened by removing preferential exemptions, including those for bonuses and perks, and by harmonizing taxes on capital income.

It said continued reforms under the Ease of Paying Taxes Act and the Bureau of Internal Revenue’s Digital Transformation Program, enabling “file-and-pay anywhere” and expanding remote digital filing, would further strengthen voluntary compliance by reducing compliance costs and improving overall PIT revenue performance.

Authorities should likewise fully implement the ETS in the power generation and heavy industry sectors, which could generate revenues equivalent to about 0.2 percent of GDP.

Currently under review in the Philippine Congress, a well-designed ETS could generate substantial public revenues that may be recycled to support vulnerable groups, finance green investments or offset the broader fiscal impact of climate policies, OECD said.

OECD Economic Surveys are periodic reviews that provide a comprehensive analysis of economic developments, highlighting key challenges and offering policy recommendations.

The Philippines joined the survey for the first time, participating alongside Asean peers Thailand, Indonesia, Malaysia and Vietnam.

Last year, the Department of Finance led discussions and coordination with other government agencies for the drafting of the economic survey. The review was held from March 24, 2025 to January 30, 2026.

Asean at risk from shadow markets, EU-ABC warns

By Bless Aubrey Ogerio @blessogerio

THEEuropean Union-ASEAN

Business Council (EU-ABC) has called for strengthened regional measures to combat illicit trade, highlighting the practice as a persistent economic and governance challenge that threatens Asean growth.

In a report submitted to the Philippine government and Asean Secretariat, the Council outlined strategies aimed at improving fiscal outcomes, strengthening supply chains, enhancing enforcement, and supporting the Philippines’s 2026 Priority Economic Deliverables (PEDs).

“Illicit trade comes with huge costs for the region,” EU-ABC Executive Director Chris Humphrey said.

“Economic loss aside, communities suffer from health and safety risks, environmental harm, organized crime enabled by illicit trade, and worst of all, the loss of human lives. It must be met with a firm and coordi-

nated response,” he added.

The report positions the Philippines as well-placed to lead efforts against illicit trade, noting the country’s current Asean Chairship focus on deepening cooperation and securing regional trade.

According to EU-ABC, coordinated action is essential to prevent illicit trade from undermining development priorities across Asean’s key sectors.

Key recommendations include establishing a consolidated platform for intelligence sharing and joint action, aligning regulatory frameworks across member states for licensing

and supply chain oversight and implementing risk-based preexport assurance and shipment controls.

The report also urges leveraging digital tools to enhance customs intelligence and risk management, developing sector-specific regulatory principles rather than one-size-fits-all rules, and expanding structured collaboration with the private sector and Asean Dialogue Partners to ensure supply chain integrity.

“These strategies, if implemented, are expected to improve fiscal outcomes, strengthen supply chains and investor confidence, enhance coordination and enforcement, and support the success of the Philippines’s 2026

PEDs,” the report said.

The EU-ABC presented its findings to key agencies, including the Department of Trade and Industry, Department of Finance, and Bangko Sentral ng Pilipinas, building on discussions from a business mission to Manila in October last year that involved senior government officials and European business representatives.

“This is the moment for Asean to turn economic risk into opportunity,” Humphrey added. “The Philippines has always been a strong champion of cooperation and constructive dialogue, and we look forward to working closely with them towards a stronger, more resilient Asean.”

The OECD said elevated power costs reduce margins for energyintensive industries and undermine manufacturing competitiveness. The telecommunications sector faces similar constraints. Limited infrastructure sharing and strong incumbent dominance have kept regulatory settings restrictive, the organization said.

Such barriers in key input sectors raise operating costs across the economy, weaken innovation incentives and dampen investor confidence.

Foreign direct investment (FDI) inflows into the Philippines remain below those of regional peers such as Malaysia, Thailand and Viet Nam. Based on the OECD’s Foreign Direct Investment Regulatory Restrictiveness Index, the Philippines remains more restrictive than all OECD countries and several Southeast Asian economies.

As such, Ravelas said this is a “healthy signal but partly supported by cautious lending.” He added that the real test is whether NPLs stay low once credit growth accelerates again.

Ravelas’s view is echoed by Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera who said that the eased NPL ratio suggests “improving asset quality and stronger balance sheets across banks.”

Rivera added this reflects better borrower repayment capacity and “prudent” credit risk management despite slower economic growth.

However, he said the rise in the absolute level of bad loans year-on-year indicates that credit expansion over the past year has “naturally increased the stock of nonperforming assets even as the system remains broadly stable.”

Rivera also noted that the month-onmonth decline in bad loans signals “some stabilization” toward yearend. Still, he said banks will likely stay cautious in 2026 as slower growth, elevated interest costs, and pockets of borrower stress especially among [micro, small and medium enterprises] MSMEs and consumer loans could still pose risks to asset quality.

The current gross NPL is equivalent to a ratio of 3.08 percent as of end-December 2025, down from the 3.27 percent logged in the same month in the previous year and the 3.32 percent recorded at end-November 2025.

The 3.08 percent NPL ratio as of end-December 2025 is also the lowest since the 2.87 percent logged in August 2020.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the better NPL ratio could signal “some improvement in the economy and business conditions towards the end of the year, in view of the Christmas holiday spending, in

terms of higher sales, incomes, bonuses, livelihood, all of which improved the ability of borrowers to pay their loans/debts.” Broken down, the NPL ratio of universal and commercial banks settled at 2.80 percent, amounting to P442.255 billion, as of end-December 2025. This was lower than the 3.04 percent recorded at end-November 2025 and down from 2.99 percent in December 2024.

For thrift or savings banks, the NPL ratio dipped to 6 percent, or P61.74 billion, as of end-December 2025 from 6.21 percent at end-November 2025, and remained below the 6.65 percent level at end-December 2024.

Digital banks also posted an improvement in asset quality, with their NPL ratio easing to 6.09 percent, or P4.24 billion, as of end-December 2025 from 6.53 percent at end-November 2025 and 7.33 percent at end-December 2024.

The latest available data for rural and cooperative banks were for September 2025, when their NPL ratio stood at 8.89 percent, equivalent to P18.45 billion.

Meanwhile, past due loans (PDLs) reached P674.384 billion as of end-December 2025, down by 3.10 percent from P695.981 billion a month ago and higher by 11.43 percent from P05.216 billion at end-December 2024.

The PDL ratio settled at 3.94 percent of banks’ total loan portfolio, lower than the 4.24 percent as of end-November 2025 and the 3.95 percent at end-December 2024.

The gross total loan portfolio (TLP) of the Philippine banking sector reached P17.105 trillion as of end-December 2025.

BSP data showed that the TLP rose by 4.23 percent from P16.410 trillion at end-November 2025 and was up by 11.63 percent from P15.323 trillion at end-December 2024.

NPLs, also known as “bad” or “soured” loans, are credit accommodations that have not been paid for 90 days or more after the due date.

A lower NPL ratio is indicative of a bank that is less susceptible to loan quality erosion as its loan assets are healthy, with only a small percentage of bad loans.

“That makes the Philippines less competitive in attracting foreign direct investment, which over time is a drag on productivity and economic growth. In a way, your very strong performance in the past has perhaps masked some of that issue that you could face in terms of meeting your full potential moving forward,” Cormann said.

Employment, social protection BEYOND competition and investment reforms, the OECD said boosting productivity will also require expanding formal employment and strengthening social protection.

Only about 33 percent of the Philippine labor force contributes to the pension system, reflecting the large share of informal employment. High informality limits workers’ access to training and social protection while reducing incentives for firms to scale up, constraining productivity growth.

Cormann said boosting formal employment would improve workers’ access to social protection and training while creating stronger incentives for businesses to expand.

“To strengthen the social safety net and improve incentives for formal job creation, our report recommends combining universal, meaning non-contributory, benefits funded through general taxation and a second layer of benefits financed through progressive social contributions with smaller contribution rates for lower income workers,” he also said.

Cormann said there is no single “magic bullet” that will deliver the 2040 income objective, stressing that reforms must be broad-based and sustained.

“You’ve got to look at everything that helps you boost productivity to 5.2 percent growth per year and that really means everything that you can do to boost your productivity is something that you need to pursue,” he added.

Based on World Bank data, the Philippines posted GNI per capita of $4,470 in 2024.

into a money trap.” Fortunately for Banco de Oro, their chair Teresita Sy Coson is a Tiger (1950), one of the favorable signs this year. “The presence of two lucky stars can overcome challenges and see their efforts pay off by the end of the year,” said Chau. Tigers have a Golden Treasure Box star, which means “financial luck is stable.”

This will also be a “productive and excellent year” for Oxen (1937, 1949, 1961, 1973, 1985, 1997, 2009, 2021), even if they are in conflict with the Horse this year. “Powerful stars will be able to resolve their problems and change their bad luck into good fortune.”

Rabbits (1939, 1951, 1963, 1975, 1987, 1999, 2011, 2023) will have “stronger money luck than last year with favorable

progress in their career progress. They will find plenty of opportunities for advancement.”

Challenges for Goats, Monkeys HORSES like Megaworld Corp. Executive Director Kevin L. Tan (1978) offend the Grand Duke this year, but a “Commander star clears away much of the misfortune. This indicates they still have excellent opportunities to pursue their goals and succeed.”

Those born in the Year of the Rat like ports and gaming tycoon Enrique K. Razon (1960) may find their “luck fluctuating from time to time and they will face lots of problems and hindrances at work.” Chau advises to be “patient enough, stay calm with clear mind when dealing with the problems to avoid new complications.”

Those born in the years of the Snake like Aboitiz Equity Ventures President and CEO Sabin M. Aboitiz (1960) and Pig like Ayala Group chair Jaime Augusta Zobel de Ayala, will see their luck improve towards the end of the year. “Snakes should act cautiously, stay calm and avoid impulsive decisions,” and should insist on signed contracts to avoid falling into traps. Pigs have “two lucky stars that will help clear away past misfortunes and brings new refreshing opportunities.”

It will be a “challenging and demanding year” for both Goats (1931, 1943, 1955, 1967, 1979, 1991, 2003, 2015) and Monkeys (1932, 1944, 1956, 1968, 1980, 1992, 2004, 2016). “Money luck is weak—avoid taking out a loan or falling into debt,” said Chau. Chau is featured in the Lunar Year Celebration of Marco Polo Ortigas, which has prosperity lunch and dinner set meals at Lung Hin restaurant on February 17. For inquiries and reservations, call (02) 7720-7777.

Remulla hikes bounty for Atong Ang to ₧20 million

By Joel R. San Juan @jrsanjuan1573 & Jonathan L. Mayuga @jonlmayuga

THE bounty for the arrest of businessman Charlie “Atong” Ang, who is facing arrest warrants in connection with the missing sabungeros, is now P20 million.

At a news conference, Interior Secretary Juan Victor Remulla announced the increase in the reward money for Ang’s arrest, from the previous P10 million.

“We are increasing the bounty for Atong Ang to P20 million for

information leading to his arrest. Seryoso kami dito ha?” he said.

As of February 12, a third warrant of arrest has been issued for Ang, and five others by Branch 29 of the Regional Trial Court in San Pablo City.

Branch 26 of the RTC in Santa Cruz, Laguna also issued an arrest warrant on January 13 while the RTC in Lipa City, Batangas, issued a separate warrant shortly after the RTC Laguna order.

Ang is facing multiple-non bailable charges, including kidnapping and serious illegal detention, and kidnapping with homicide, all in connection with the cases of the missing sabungeros or cockfighting enthusiasts from 2021 to 2022.

Officially considered a fugitive from justice, Ang has denied the allegations.

The DILG confirmed that police have raided at least three known hideouts of the fugitive businessman.

While the Department of Justice

(DOJ) believes Ang is still in the country, authorities have already requested an Interpol Red Notice to arrest him in the event that he has fled the Philippines.

As this developed, a third arrest warrant has been issued Ang ang six others for kidnapping and serious illegal detention charges in connection with the disappearance of 34 cockfighting enthusiasts four years ago.

The arrest warrant was issued by Regional Trial Court (RTC) of San Pablo, City Judge Luvina Padolina Roque of Branch 29 of the RTC in San Pablo City on February 6.

Aside from Ang, also covered by the warrant are his co-accused identified as Ryan Jay Orapa, Alfredo Andes, Philip Almedilla,

‘No government official exempt from prosecution’

By Samuel P. Medenilla

@sam_medenilla

MALACAÑANG has assured that no erring government functionary will be exempted from prosecution.

In his speech during the oathtaking ceremony of 140 prosecutors of the Department of Justice, Executive Secretary Ralph G. Recto assured that they will be backed by President Marcos in the performance of their tasks of going after wrongdoers, even high-ranking officials.

“Even the highest offices have faced scrutiny. Even the Executive Secretary has faced complaints.

These charges were met the only way a public servant with respect to the law should: with facts, with transparency, and with reverence to due process,” Recto said during the event.

Recto is currently facing two separate charges of plunder, technical malversation, and graft complaints in connection to the transfer of P60 billion excess funds of Philippine Health Insurance Corp. (PhilHealth) to the national treasury when he was Secretary of Finance.

The cases were filed by a coalition of doctors, health advocates, and lawyers led by Rodel Taton and the Save the Philippines Coalition. Recto said Marcos expects the

prosecutors to perform their duties following due process of the law as well as with independence and impartiality.

He reiterated the prosecutors serve as “democracy’s strongest guard rail” against abuse of power in the government.

“You are not here to bring politics into the charging decision. You are not here to serve personalities. You are not here to shield the powerful. You are here to be fair. To hold power—any power—accountable to the law,” Recto said.

“Justice that needs instructions is not justice—it is obedience. And you are not here to obey personalities. You are here to uphold principles,” he added.

The newly appointed prosecutors will be deployed nationwide to help reduce caseloads, eliminate case backlogs and accelerate the delivery of justice.

During their oath-taking ceremony, Marcos personally congratulated the said prosecutors.

Among the government officials, who attended the event were Justice Secretary Fredderick A. Vida, Chief Presidential Legal Counsel Anna Liza G. Logan, Senior Deputy Executive Secretary Maria Luwalhati C. Dorotan Tiuseco, Deputy Executive Secretary for Legal Affairs Jesse Hermogenes T. Andres, and Justice Undersecretary Ian Norman E. Dato.

Lawmakers hit BOC ‘unpreparedness’ vs large-scale cigarette smuggling

WITH P1.84 billion in lost government revenue in just three months, lawmakers criticized the Bureau of Customs (BOC) for being “unprepared” to handle largescale cigarette smuggling, while others urged the government to intensify the crackdown on the so-called “cigarette mafia,” warning that recent raids have exposed serious gaps in the enforcement of customs and trade laws.

The House Committee on Good Government and Public Accountability chairman, Rep. Joel Chua of Manila said the BOC’s failure to effectively combat cigarette smuggling was evident when its representatives appeared before the House without a formal letter from Commissioner Ariel Nepomuceno explaining his absence and without a prepared presentation for the committee.

Chua noted that most invited agencies, including the Department of Finance and the Bureau of Internal Revenue, arrived

By Ashley J. Manabat

prepared for the hearing, while the BOC did not. He added that despite receiving more than five days’ notice, the bureau appeared unprepared, which he said may partly explain why smugglers continue to evade authorities.

Chua’s remarks followed the reprimand issued by Cagayan de Oro Rep. Rufus Rodriguez and Marikina Rep. Miro Quimbo, Committee on Ways and Means chairman, to BOC Deputy Commissioner for Intelligence Romeo Allan Rosales over Nepomuceno’s absence. Rodriguez stressed that a formal letter explaining the commissioner’s nonattendance should have been submitted.

Quimbo said that while the BOC informally notified them of Nepomuceno’s absence, no official communication was received. He emphasized that the committee expects agencies to inform it properly if they are unable to attend hearings.

Rosales explained that Nepomuceno was attending an Anti-Red Tape Authority

ANGELES CITY—A nearly

P96-million flood control project along the

(Arta) event as a guest speaker at the time of the hearing. He apologized for the absence of a presentation but said the bureau had compiled data on smuggling operations, confiscations of tobacco products, and related cases.

Meanwhile, Quimbo described the worsening illicit tobacco trade as “the new Pogo,” referring to the now-banned Philippine Offshore Gaming Operations.

“Contraband cigarettes are no longer a small-scale problem. The scale, frequency, and brazenness of operations today mirror those of Pogos—nationwide in scope, with foreign actors and local protectors,” Quimbo said.

From December 2025 to February 2026, Quimbo said authorities conducted seven major operations that seized 782.1 million contraband cigarette sticks, equivalent to P1.84 billion in foregone revenues.

The lawmaker stressed that cheap illegal cigarettes are making smoking

more accessible, undermining public health, and reducing funding for health services.

Separately, Party-list Rep. Nathaniel Oducado if 1Tahanan called on the Marcos administration to intensify enforcement against tobacco smuggling, citing recent seizures that revealed gaps in law enforcement.

Oducado warned that the nationwide pattern of smuggling operations shows that perpetrators remain active and appear undeterred by enforcement efforts.

Oducado said stronger enforcement measures and harsher penalties are necessary to address the problem.

In December, Oducado filed House Bill 6965, or the Anti-Illicit Cigarette Import Trade and Smuggling Act, which seeks to strengthen enforcement against illegal cigarette trade, protect government revenues, ensure fair competition, and promote public health.

Jovee Marie N. dela Cruz

Sapangbalen River in Barangay Pampang here is being questioned by a landowner who claims he was never informed of the construction and that part of the government-funded structure stands within his private property.

Two project signboards posted at the site, located perpendicular to Fil-Am Friendship Road beside an automotive dealership, list a slope protection project amounting to P47,928,050.45 and P47,972,734.14, for a combined total of nearly P96 million.

The signboards indicate the Department of Public Works and Highways (DPWH) as the implementing agency under its Sustainable Infrastructure Projects Alleviating Gaps (Sipag) program with 3 Sides Builders and Trading Corporation as contractor.

Construction of the project,

Joey Natanuan and Aaron Ezrah Cabillan.

Kidnapping and serious illegal detention under Article 267 of the Revised Penal Code is a nonbailable offense.

Separate arrest warrants have previously been issued against Ang and several other individuals by the RTCs in Sta. Cruz, Laguna and Lipa City, Batangas, also in connection with the missing “sabungeros” case.

The Department of Justice (DOJ) said the panel of prosecutors handling the case has yet to officially receive a copy of the new arrest warrant.

The charges stemmed from the sworn statements executed by whistleblower Julie Aguilar Patidongan and his brother,

Congress kicks

Ellakim, accusing Ang of masterminding the disappearance of the cockfighting enthusiasts. Julie, Ang’s former farm manager, claimed that Ang ordered the summary execution of the cockfighting enthusiasts after they were caught cheating inside cockfighting arenas in Manila Arena in Manila City; Sta. Cruz, Laguna; Lipa, City, Batangas; Lipa City, Batangas; and San Pablo City, Laguna. Ellakim, on the other hand, claimed that he personally witnessed the kidnapping and killing of missing sabungeros. Ang has been in hiding since the issuance of an arrest warrant against him. Acting Justice Secretary Fredderick Vida earlier said there were indications that Ang is still in the country.

off public nationwide consultations on anti-political dynasty bill

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives on Thursday launched nationwide public consultations on the proposed Anti-Political Dynasty bill, stressing that the measure’s success depends on genuine public participation, even as local residents urged Congress to tackle the “real problems.”

Speaker Faustino G. Dy III said the consultations reflect the chamber’s commitment to shape politically sensitive legislation through transparency and direct engagement with citizens.

“These consultations are part of the House’s stand that major laws should be crafted through open and honest discussions,” Dy said in a video message.

The first consultation was held in Carmona City in Cavite and presided over by Lanao del Sur Rep. Zia Alonto Adiong, chairman of the House Committee on Electoral Reforms and Suffrage.

The discussions centered on House Bill 6771, filed by Dy and House Majority Leader Ferdinand Alexander A. Marcos, which seeks to implement the 1987 Constitution’s policy against political dynasties by defining prohibited family relationships and limiting the holding of elective posts. A total of 24 anti-dynasty bills have been filed in the House.

Dy noted the public’s longstanding demand for reform and stressed that consultations are meant to gather diverse perspectives.

based on the signboards, started in August 2025 and was targeted to be completed in January 2026 and funded under the 2025 General Appropriations Act.

However, property owner Ruperto Cruz said he only became aware of the construction months after work had begun.

“We were not advised. There was no notice,” Cruz said in an interview.

Cruz presented a Transfer Certificate of Title (TCT) which he said covers the portion of land where the slope protection structure now stands. He said the area had long been overgrown with tall grass and bushes and was partially occupied by informal fruit vendors whom he had allowed to stay without rent.

“When we asked the vendors to vacate so we could clear the area, that’s when we saw the structure

clearly,” Cruz said.

He added that the dense vegetation and roadside activity may have made the construction less noticeable to the public.

The project signboards are positioned facing inward and are not easily visible from the main road.

Right-of-way status unclear

IT remains unclear whether the government secured a right-ofway agreement, easement, land purchase, donation, or expropriation authority before undertaking the project.

The signboards do not indicate the status of land acquisition.

Cruz also questioned if the creek’s alignment had been altered.

“The creek isn’t supposed to be on my property,” he said. “If you notice, the bridge there isn’t even

“We recognize that this issue involves different views, experiences, and sentiments. We are not here to set a decision; we are here to listen,” he said. “The House is open to all voices—from Luzon, the Visayas, and Mindanao— whether in support, with concerns, or seeking a deeper understanding of the proposal.”

The Speaker added that the success of the measure depends on genuine public participation.

“The House is serious about passing a fair, meaningful, and people-centered Anti-Political Dynasty bill. Its strength will come from real and wide consultations with our citizens,” Dy said, urging respectful and constructive discussions.

For his part, Adiong added that the consultations embody the constitutional principle that “sovereignty resides in the people.” He said the House will open the discussions to voices from all regions of the country.

Adiong said reform would lack meaning without public participation.

“No reform will be meaningful if it is not rooted in the real experiences and voices of the people. The law we create will be the result of collective reflection and the active participation of the citizenry,” he pointed out.

He outlined key policy questions now being placed before the public, including what family ties should be covered, how far the prohibited degree of relation should

See “Anti-political,” A5

aligned.”

As of publication, there was no confirmation from DPWH or local authorities on whether the waterway’s alignment had been modified or whether the project footprint overlaps private property beyond legally mandated easement zones.

Barangay unaware?

CRUZ said he brought the matter to Barangay Captain Carlos dela Cruz.

“Even him, he said he didn’t know about it,” Cruz said. When asked for comment, dela Cruz said he would respond after returning Thursday, as he was currently out of town.

Requests for comment were sent to Angeles City Mayor Jon

www.businessmirror.com.ph

Sugar laws, SRA charter need revisiting–senator

By Butch Fernandez @butchfBM

DESPITE the passage of the Sugar Industry Development Act (Sida) of 2015 and the existence of the Sugar Regulatory Administration (SRA) that is tasked to look after the sector, the competitiveness of the local sugar industry has steadily declined over the years owing to low farm productivity, high production costs, and inefficient milling operations.

Noting this, Sen. Anna Threresia “Risa” Hontiveros has filed a resolution calling for a Senate inquiry into the worsening challenges facing the Philippine sugar industry, including a review of the SRA Charter.

“The laws were meant to strengthen the sugar industry and improve the incomes of farmers and workers. But today, our sugar remains expensive, our mills lag behind, and our farmers are struggling to compete,” Hontiveros said. Senate Resolution 298 stressed

Group echoes warnings vs unauthorized sexual performance enhancers

AHEAD of Valentine’s Day, the EcoWaste Coalition alerted consumers, particularly men, against the use of unauthorized sexual enhancement products, which may result in serious health problems and even hospitalization.

Often sold by online dealers, sidewalk vendors, and Chinese drug stores, unauthorized products may contain restricted substances, which, if taken without a doctor’s advice, may have serious side effects, the group said. Information gathered by the group from authoritative sources such as Health Canada, the US Food and Drug Administration (USFDA), and the Philippine FDA indicates that unregistered male dietary supplements, male energy pills, male sexual stimulants, and erectile dysfunction (ED) treatments often contain hidden prescription drugs such as sildenafil and tadalafil.

According to Health Canada, sildenafil and tadalafil are prescription drugs used to treat erectile dysfunction. They should be used only under a doctor’s supervision, with a warning that both drugs “should not be used by individuals taking any kind of nitrate drug [e.g. nitroglycerine] as it can cause potentially life-threatening low blood pressure.”

Health Canada further warns “individuals with heart problems

extend, which elective posts should be included, and whether the ban should apply to simultaneous or successive service.

Real problems

JOHN DELA CRUZ, a long-time resident of General Mariano Alvarez and head of multiple local organizations, expressed his opposition to the proposed antipolitical dynasty law, arguing that the measure does not address the country’s real problems.

Speaking before the local media, dela Cruz cited the example of Carmona, Cavite, which he says flourished under the consistent leadership of the Loyola family.

“Since the Loyola family took office, Carmona has become a city, hosted projects like the Philippine General Hospital, and launched initiatives such as Carmona International City,” he said. “This is what strong, dedicated leadership can achieve. The people should decide who serves them, not an anti-dynasty law.”

Dela Cruz emphasized that national issues such as corruption, slow justice, and unchecked flood control efforts are far more pressing. “The real problems lie in agencies like DPWH, DepEd, and DA, where malversation and plunder persist,” he said. He also raised concerns about fake news and digital misinformation, urging Congress and the National

that local producers continue to fall behind major sugar-producing countries such as Brazil, Thailand, and Colombia. Even with local production reaching a four-year high in 2025, domestic supply met only 87 percent of local demand.

Sugar prices remain high despite imports and lower global prices, the resolution pointed out, as it warned that cheaper sugar substitutes and misdeclared imports hurt local producers and cause revenue losses for the government. She flagged the double whammy

of a situation that hurts farmers without helping consumers.

“Ang ating mga magsasaka ay namomroblema sa tumataas na cost pero mababa ang productivity Habang patuloy namang nagdurusa ang mga konsyumer sa mataas na presyo ng asukal [Our farmers are beset by high costs yet productivity is low]. The system is failing both farmers and consumers,” Hontiveros said.

The sugar industry supports around 700,000 workers and the livelihoods of five to six

million Filipinos. The Hontiveros-led resolution also seeks a review of current SRA regulations that link sugar import privileges to mandatory purchases and warehousing of local buffer stocks, as well as compliance with US export quotas. According to the resolution, these rules appear to favor large, highly capitalized trader-millers and may be consolidating control of the sugar market in the hands of a few players.

Sida, the resolution stated, was meant to boost the sugar indus -

try’s competitiveness and raise farmers’ incomes, but more than a decade later, its implementation and use of the P2-billion annual budget need urgent review as these goals remain unmet.

“We need to fix the problems and take them away from the system. We need policies that truly raise productivity, lower costs, protect small farmers and agrarian reform beneficiaries, and make sugar affordable for Filipino consumers,” Hontiveros said, partly in Filipino.

Peza, Unilab partner to boost pharma skills, R&D

By Bless Aubrey Ogerio

Tare at increased risk of cardiovascular side effects such as heart attack, stroke, chest pain, high blood pressure and abnormal heartbeat” if these drugs are used without doctor’s advice.

“Other possible side effects include headache, facial flushing, indigestion, dizziness, abnormal vision, and hearing loss.”

Desmethyl carbodenafil, dithiodesmethyl carbodenafil, and hydroxythiohomosildenafil are unauthorized substances similar to sildenafil, while nortadalafil is similar to tadalafil and may pose similar health risks, according to Health Canada.

“These contaminated products are a type of medication health fraud,” the US FDA stated.

The Philippine FDA has flagged dietary supplements after laboratory analyses found them adulterated with sildenafil or tadalafil in violation of Republic Act 9711, or the FDA Act of 2009, and Republic Act 10611, or the Food Safety Act of 2013.

Among the products flagged by the FDA for containing sildenafil or tadalafil are specific batches of Drivemax Plus Brand Herbal Dietary Supplement Capsule, El Combate Food Supplement for Men, Manhattan Biological Maxman, Megaman, and Qi Lu Tadalafil Tablets Treatment for Erectile Dysfunction. Jonathan L. Mayuga

Telecommunications Commission to act.

Beth Biyohon, another local resident, echoed dela Cruz’s sentiment. “The problem is not political dynasties but corruption. Legislators should focus on solutions to curb corruption and support hardworking local officials,” she said.

Both residents called for a national perspective, arguing that citizens are capable of judging their leaders and rewarding those who genuinely serve the people. “The anti-political dynasty bill overlooks the contributions of leaders who have delivered tangible development for their communities,” dela Cruz said.

For her part, Christine Qullosa of Bayan called on Congress to urgently address political dynasties, citing them as a key factor sustaining corruption and limiting opportunities for new leaders.

“Political dynasties keep power within select families, blocking qualified leaders from serving their communities,” Qullosa said.

She said that the issue affects not just local towns but also provinces and even Filipinos abroad, as entrenched political machinery continues to perpetuate a flawed system.

“The law must clearly ensure equal opportunities for all, so ordinary citizens—not just wealthy families— can run for office and serve the public,” she said. She urged lawmakers to craft measures that prevent the inheritance of power and allow communities to freely choose leaders who genuinely work for the people.

HE Philippine Economic Zone Authority (Peza) and Unilab Foundation Inc. (ULF) have signed an agreement aimed at strengthening the country’s pharmaceutical workforce and research capabilities.

The agreement, formalized on February 2, focuses on developing pharma-specific competencies,

adopting advanced production and quality systems and preparing ecozone locators for emerging drug technologies and evolving regulatory standards.

“By leveraging Peza’s AI Tech Academy and Knowledge, Innovation, Science, and Technology [KIST] Parks, we aim to attract more companies into pharma and workforce development, manufacturing, and R&D [research and

development],” said Peza Director General Tereso Panga. He added that the collaboration is designed to build an integrated pharmaceutical value chain, position the Philippines as a net exporter of medicines, and help lower healthcare costs for Filipinos.

Under the partnership, locators in Peza ecozones are expected to improve operational efficiency, enhance product

Woggle questions suspension order

By Jonathan L. Mayuga @jonlmayuga

WOGGLE Corporation, on Thursday, asked the Mines and Geosciences Bureau (MGB) to provide a legal basis for its decision to suspend the company’s exploration permit in barangay Bitnong, Dupax del Norte, Nueva Vizcaya.

In a statement, Woggle Corporation said that without a legal basis, such an order has legal and contractual implications, questioning the MGB’s invocation of “force majeure” as the reason for its decision.

Force majeure is recognized under Article 1174 of the Civil Code as caso fruito or “fortuitous events” which refers to extraordinary, unforeseeable, or unavoidable occurence, such as natural disasters or acts of man that render contractual fulfillment impossible.

In a telephone interview on Wednesday, MGB Director Michael Cabalda told the BusinessMirror that the decision is “a preventive measure,” citing “the chaos created by anti-mining protests” that led to the burning of equipment of the company in December and the arrest of several protesters early this year.

Cabalda said the lifting of the suspension order depends largely on the situation in barangay Bitnong,

Valid permit

“WOGGLE’s Exploration Permit was validly issued by the Government of the Republic of the Philippines. It constitutes a government grant conferring rights and obligations upon both the State and the permit holder,” the company said.

“Such grants are not mere privileges revocable without legal basis; they are governed by statutory standards, contractual principles, and the consti -

Lazatin and DPWH Pampanga 3rd District Engineering Office

assistant District Engineer Arnold Ocampo. Neither had issued a statement as of press time.

tutional guarantee against impairment of obligations. Woggle submits that it has not violated any of its terms and conditions,” it said.

The company was reacting to the temporary suspension order issued by the MGB, effectively halting the exploration activities in Dupax del Norte.

Woggle said that if the suspension is premised on the existence of illegal barricades, political agitation, or disruptions caused by third parties, the circumstances do not justify penalizing the lawful permit holder.

In fact, it said that a court of law has found the illegality of the barricades and issued a corresponding writ of preliminary injunction.

The company pointed out that under established principles of force majeure, unforeseen events beyond the control of contracting parties may excuse performance—but they do not automatically extinguish vested rights, nor do they transfer the burden of unlawful third-party acts onto the compliant party.

Dangerous precedent

“THE government cannot invoke force majeure to suspend or effectively nullify rights it has granted when the alleged disruptive and illegal acts are attributable to private individuals or groups; the permit holder has remained compliant with regulatory requirements; law enforcement remedies remain available to address the unlawful obstruction; and government’s prevailing due process requirement of a three notice rule has not be judiciously observed.

“To do so risks creating a dangerous precedent—one where regulatory certainty becomes contingent upon the loudest disruption rather than the rule of law,” it said.

Cruz said he has consulted legal counsel and is preparing to take legal action pending further advice.

According to Woggle Corporation, exploration demands substantial upfront capital deployed under the assumption that duly issued permits will be respected and protected.

“If lawful operations can be suspended due to politically motivated disruptions or illegal blockades, it raises fundamental questions. What assurance do investors have that governmentissued permits will be upheld?” the company pointed out.

“How can regulatory risk be measured if external agitation can override lawful compliance? What signal does this send to foreign direct investors evaluating the Philippines?”

Economic consequences

THE company said that the suspension order has immediate economic consequences. More than 1,200 employees and contractors connected to its Runruno operations in Nueva Vizcaya rely directly and indirectly on the continuity of its exploration pipeline. It said that prolonged suspension jeopardizes livelihoods, local procurement networks, and community development programs.

The company is currently reviewing all available legal remedies, including administrative, contractual, and constitutional avenues, to ensure that its rights are protected under Philippine law.

Woggle Corporation urged the MGB to provide a legal basis of its order and affirm the government’s commitment to regulatory stability and the protection of lawful investments, adding that it remains committed to responsible exploration, environmental stewardship, and constructive engagement with national and local stakeholders.

“The company stands ready to resolve this matter promptly, transparently, and in accordance with the rule of law,” it said.

quality and strengthen patient safety and occupational health standards aligned with global pharmaceutical norms.

The initiative also emphasizes workforce development through targeted training programs for manufacturing companies and bolsters research and development via joint projects. Unilab is one of the Philippines’ largest healthcare companies.

DTI: No certification, no place in construction market

THE Department of Trade and Industry (DTI) has warned against the continued sale of uncertified deformed steel bars, stressing that mandatory certification is in place to protect public safety.

DTI issued the warning after it seized 12,525 pieces of deformed steel bars from a wholesale hardware store in San Leonardo, Nueva Ecija, worth an estimated P1.6 million.

It was sealed during the operation for lacking the required Bureau of Philippine Standards (BPS) markings, including the Philippine Standard (PS) Quality and Safety Mark or the Import Commodity Clearance (ICC) sticker.

“There is a reason why deformed steel bars are under mandatory certification: to ensure that our homes are safe, strong, and of quality,” the Fair Trade Enforcement Bureau (FTEB) said in a statement following the inspection.

“We cannot allow violative and noncompliant products to remain in the market, threatening the safety of Filipino households and benefitting businesses who fail or refuse to secure certification,” it added. The enforcement action, carried out by the FTEB in coordination with DTI Region 3, resulted in the issuance of a Notice of Violation against the establishment. The firm has been ordered to explain within 48 hours why it should not face administrative penalties for selling uncertified construction materials.

The operation forms part of the DTI’s E-Kalasag Project, a nationwide initiative aimed at removing unsafe and non-compliant products, particularly construction materials, from the market.

The Nueva Ecija seizure adds to the DTI’s growing list of enforcement actions against uncertified steel. In 2025, the agency confiscated 98,947 pieces of deformed steel bars nationwide, valued at about P24 million.

Industry experts have long cautioned that substandard steel bars pose serious risks to building integrity, especially in a country prone to strong earthquakes.

Last year, Roberto Cola, former president of the Philippine Iron and Steel Institute and a member of the Department of Science and Technology’s Metals Industry Research and Development Center, previously said some uncertified steel bars are produced using induction furnace facilities, which experts have flagged as potentially unsafe for construction use. (See: https:// businessmirror.com.ph/2025/04/13/notwith-substandard-steel-around/)

As of press time, the DPWH had not confirmed the project’s scope, right-of-way documentation, or compliance with notice requirements.

“We are appealing to DPWH Secretary Vince Dizon and to the President to inspect and investigate it,” he said. “I wasn’t advised.” Public infrastructure projects typically require right-of-way clearance and documentation before implementation, particularly when private titled land may be affected.

Moreover, Federation of Philippine Industries president Elizabeth Lee earlier said uncertified and artificially lowpriced steel products undermine local manufacturers and weaken the domestic supply base. (See: https://businessmirror. com.ph/2026/01/31/biz-groups-cite-trustreform-issues-in-missed-growth-target/) Bless Aubrey Ogerio

Death toll from Iran protests reaches 7,002 amid ongoing suppression, diplomatic tensions with US

By Jon Gambrell

The Associated Press

UBAI, United Arab Emir -

Dates—The death toll from a crackdown over Iran’s nationwide protests last month has reached at least 7,002 people killed with many more still feared dead, activists said Thursday.

The slow rise in the number of dead from the demonstrations adds to the overall tensions facing Iran both inside the country and abroad as it tries to negotiate with the United States over its nuclear program. A second round of talks remains up in the air as Israeli Prime Minister Benjamin Netanyahu pressed his case directly with US President Donald Trump to intensify his demands on Tehran in the negotiations.

“There was nothing definitive reached other than I insisted that negotiations with Iran continue to see whether or not a Deal can be consummated. If it can, I let the Prime Minister know that will be a preference,” Trump wrote afterward on his

TruthSocial website. “Last time Iran decided that they were better off not making a Deal, and they were hit. ... That did not work well for them. Hopefully this time they will be more reasonable and responsible.”

Meanwhile, Iran at home faces still-simmering anger over its wideranging suppression of all dissent in the Islamic Republic. That rage may intensify in the coming days as families of the dead begin marking the traditional 40-day mourning for the loved ones.

Activists’ death toll slowly rises THE US-based Human Rights Activists News Agency, which offered the latest figures, has been accurate in counting deaths during previous rounds of unrest in Iran and relies on a network of activists in Iran to verify deaths. The slow rise in the death toll has come as the agency slowly is able to crosscheck information as communication remains difficult with those inside of the Islamic Republic. Iran’s government offered its only death toll on Jan. 21, saying 3,117

people were killed. Iran’s theocracy in the past has undercounted or not reported fatalities from past unrest.

The Associated Press has been unable to independently assess the death toll, given authorities have disrupted Internet access and international calls in Iran.

The rise in the death toll comes as

Iran tries to negotiate with the United States over its nuclear program.

Diplomacy over Iran continues

SENIOR Iranian security official Ali Larijani met Wednesday in Qatar with Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani. Qatar hosts a major US military installation that Iran attacked in June, after the US bombed Iranian nuclear sites during the 12-day Iran-Israel war in June. Larijani also met with officials of the Palestinian Hamas militant group, and in Oman with Tehran-backed Houthi rebels from Yemen on Tuesday.

Larijani told Qatar’s Al Jazeera satellite news network that Iran did not receive any specific proposal from the US in Oman, but acknowledged that there was an “exchange of messages.”

Qatar has been a key negotiator in the past with Iran, with which it shares a massive offshore natural gas field in the Persian Gulf. Its state-run Qatar News Agency reported that ruling emir Sheikh Tamim bin Hamad Al Thani spoke with Trump about “the current situation in the region

and international efforts aimed at de-escalation and strengthening regional security and peace,” without elaborating.

The US has moved the aircraft carrier USS Abraham Lincoln, ships and warplanes to the Middle East to pressure Iran into an agreement and have the firepower necessary to strike the Islamic Republic should Trump choose to do so.

Already, US forces have shot down a drone they said got too close to the Lincoln and came to the aid of a USflagged ship that Iranian forces tried to stop in the Strait of Hormuz, the narrow mouth of the Persian Gulf.

Trump told the news website Axios that he was considering sending a second carrier to the region. “We have an armada that is heading there and another one might be going,” he said.

Concern over Nobel Peace Prize laureate

MEANWHILE , the Norwegian Nobel Committee said it was “deeply appalled by credible reports detailing the brutal arrest, physical abuse and

ongoing life - threatening mistreatment” of 2023 Peace Prize laureate Narges Mohammadi. The committee that awards the prize said it had information Mohammadi had been beaten during her arrest in December and continued to be mistreated. It called for her immediate and unconditional release. “She continues to be denied adequate, sustained medical follow - up while being subjected to heavy interrogation and intimidation,” the committee said. “She has fainted several times, suffers from dangerously high blood pressure and has been prevented from accessing necessary follow - up for suspected breast tumors.” Iran just sentenced Mohammadi, 53, to over seven more years in prison. Supporters had warned for months before her arrest that she was at risk of being put back into prison after she received a furlough in December 2024 over medical concerns.

Associated Press writer Melanie Lidman in Washington contributed to this report.

Taiwan’s AI-powered economy soars in the shadow of bubble fears and China threats

By Chan Ho-Him AP Business Writer

TAIPEI, Taiwan—In Taipei, real estate agent Jason Sung is betting that home prices around a hightech industrial park in the northern part of Taiwan’s capital will soon take flight— because of computer chip maker Nvidia.

The area is where Nvidia plans to build its new Taiwan headquarters as it rapidly expands on the island, set to surpass Apple to become the biggest customer of Taiwan semiconductor maker TSMC, the biggest contract manufacturer of the advanced chips needed for artificial intelligence.

Nvidia CEO Jensen Huang describes Taiwan as the “center of the world’s computer ecosystem.” It’s riding high on the global AI frenzy. Its economy grew at an 8.6% annual pace last year, and it’s hoping to maintain that momentum after it recently sealed a trade deal with US President Donald Trump that cut US tariffs on Taiwan to 15% from 20%.

“We have been lucky,” said Wu Tsong-min, an emeritus economics professor at National Taiwan University and a former board member of Taiwan’s central bank.

But Taiwan’s heavy reliance on computer chip makers and other technology companies carries the growing risk of the AI craze turning out to be a bubble.

“What if the AI bubble is real, and what if its rapid growth pace slows, what’s next for Taiwan? That’s the question many have been asking,” Wu said.

Taiwan’s leads in chipmaking AN island of about 23 million people, Taiwan depends heavily on exports. They jumped nearly 35% year-onyear in 2025, as shipments to the US surged 78% due to ballooning AI demand.

That’s thanks largely to TSMC, or Taiwan Semiconductor Manufacturing Corp., and electronics giant Foxconn, which makes AI servers for Nvidia and is a major supplier to Apple.

Taiwan has undergone massive economic changes while shifting from mainly labor-intensive industries such as plastics and textiles to advanced manufacturing like semiconductor fabrication.

The AI frenzy has made TSMC one of the world’s top 10 most valuable companies. Its profit jumped 46% last year to $1.7 trillion Taiwan dollars ($54 billion).

The chipmaker is investing heavily both in Taiwan and in new factories in Arizona in the US. It produces more than 90% of the world’s most

Escalating tensions with Beijing, which claims independently governed Taiwan as mainland China’s territory, are another abiding threat, despite the island’s vital role in global chip and AI supply chains.

advanced chips.

Foxconn, formally known as Hon Hai Precision Industry Co., has doubled its value since 2023. The maker of Apple’s iPhone and iPads now produces AI servers and racks and has a partnership with OpenAI to supply AI data center equipment.

Taiwan’s heavy reliance on its technology industry means its biggest risk is that growth will be “very highly contingent on the AI boom and tech race continuing,” said Lynn Song, chief economist for Greater China at ING Bank.

Risks persist of an AI bubble? WORRIES that the AI craze may prove to be a bubble prone to a bust similar to the dot.com crash in 2000 that swept through markets, alarming many in Taiwan.

“I’m also very nervous about it,”

C.C. Wei, TSMC’s chairman said when asked about a potential AI bubble during earnings call in January. “Because we have to invest about $52-$56 billion (this year).”

“If we did not do it carefully, that will be a big disaster to TSMC for sure,”

he said. “I want to make sure that my customers’ demands are real.”

In a recent report, analysts from Fitch Ratings argued that AI demand will remain strong at least in the near term. In the longer term, however, the risks “will depend on the evolution of AI, as well as trade and investment policies and the adaptability of Taiwanese firms,” they wrote.

Taiwanese electronics company Asia Vital Components, a key supplier of liquid cooling systems for Nvidia, is investing heavily in research and development. Its chairman, Spencer Shen, said he saw no signs of a slowdown in AI-related demand so far. The company is already designing thermal solutions for 2028 AI servers, he said.

“We do not believe this is a bubble,” Shen told The Associated Press in an interview. “AI is driven by companies with real products and massive cash flows, like Amazon, Microsoft, Google and Meta.”

“In fact, AI infrastructure is still in short supply,” Shen added. “I expect AI to trickle through to our everyday level and change the way that things will work fundamentally.”

Taiwan has a ‘silicon shield’ against Beijing

SOME in Taiwan believe that its pivotal role in the technology sector, especially as a maker of computer chips whose main material is silicon, helps to protect the island from attack by communist-ruled Beijing, whose leaders have vowed to reunite the island w ith the Chinese mainland, by force if necessary.

The two governments split in 1949 during a civil war. Beijing has been stepping up pressure, conducting military drills nearby. Exercises in late December included live rounds landing closer to the island than before, Taiwan officials said.

Such geopolitical factors cloud the economic outlook, though many in Taiwan including its former President Tsai Ing-wen believe its importance to global chipmaking would deter China from attacking.

The risk of an invasion is unclear.

Both global tech companies and Chinese industries would suffer from massive disruptions of the chip supply chain, said Wu of National Taiwan University.

Still, some companies have been identifying contingency scenarios in recent years on how to respond in case of military action by China, said Chen Shin-horng, vice president of the semi-official Chung-Hua Institution for Economic Research.

“We need to understand the potential risk, potential damages to Taiwan,” said Chen.

While many of its core research and development activities are in Taiwan, TSMC already has plants in China, Japan and the US, and it’s expanding its offshore production in the US, Germany and Japan.

Roughly 65% of Foxconn’s manufacturing is in China, and the company has factories in other parts of

the world such as India, Mexico and the US. AVC has been expanding its production capacity in Vietnam.

While some have called for Taiwan to diversify its economy away from technology to reduce risks, others argue that doubling down on its world-leading technology is the way forward. “It is our greatest strength,” said Shen of AVC.

Some in Taiwan are being left behind THE AI boom has done wonders for Taiwan’s stock exchange, where the benchmark Taiex has climbed nearly 250% over the past decade, making many investors rich. Economists have significantly upgraded forecasts for Taiwan’s economic growth for 2026 based on its robust AI-related exports. But as is true elsewhere, the wealth is not evenly spread. Many Taiwan residents feel they have been left behind. Taiwan’s wealth gap, according to official data, has roughly quadrupled over the past three decades. The pay of tech workers already earning high wages, especially chip engineers and managers, has skyrocketed. For other traditional industries, such as plastics and machine toolmakers, growth has lagged.

Economists say that gap might widen as the AI frenzy continues.

“It can be tough to make a living,” said Jean Lin, a 30-something manager of a takeaway outlet selling bento meals in a Taipei neighborhood where Foxconn’s office is located.

“Many of the younger generation still can’t afford to buy an apartment,” Lin, who wishes to start her own business one day, added. “A lot of young people still feel they don’t have much money.”

Associated Press video journalist Johnson Lai contributed.

In Cambodia, thousands flood out of scam compounds and find increasingly little help

By Huizhong Wu

The Associated Press

BANGKOK—One recent night, Youga was grateful when he finally slept in a bed, even though it had neither pillow nor blanket.

For two days, the African man said, he slept on the street after he reached Cambodia’s capital, Phnom Penh, following his escape from a scam compound in O’Smach, which borders Thailand in the north. He had only $100 left to his name and wanted to save the money. So the Caritas shelter took him in.

The shelter, the only one of its kind that helps victims escaping from scam compounds, was funded previously by the United States. Today, it is stretched at the seams, working with a third of the staff and a fraction of the budget it previously had as the country faces an unprecedented surge of workers leaving scam compounds. Now, overwhelmed, the shelter has had to turn away people in need, more than 300 of them. Mark Taylor, who works on human trafficking issues in Cambodia, said, “It’s

become triage.”

As of last week, the shelter had about 150 people. Many of the newest arrivals were sleeping in a common room and didn’t have more than the clothes on their backs. The shelter didn’t have enough pillows and blankets, said Youga, who spoke on condition that only his first name be used out of fear of his former bosses.

A flood of people leaving scam compounds

CAMBODIA is facing an unprecedented flood of workers leaving scam compounds. It comes weeks after the country extradited a suspected kingpin of the scam business who had played a prominent role in Cambodian society to China in January.

In recent years, online-based scams have become endemic to the region in Cambodia, Myanmar, and Laos. Inside these buildings, scammers have built sophisticated operations, utilizing phone booths lined with foam for soundproofing, scripts in multiple languages, and even fake police booths of countries ranging from Brazil to China. In

Cambodia, the United Nations Office of the High Commissioner on Human Rights estimated that there were up to 100,000 workers alone in 2023.

After growing international pressure from countries like South Korea, the US and China built up over the past several months, Cambodia’s Prime Minister Hun Manet announced last month that “combating crime is a deliberate political priority” and specifically named cyberfraud. The Cambodian government said it deported 1,620 foreign nationals from 21 countries linked to scam operations in January.

Compounds have been letting people go en masse in recent days, according to 15 videos and images on social media verified by Amnesty International. The organization also interviewed 35 victims, who described a “chaotic and dangerous” situation in trying to leave, although many noted a lack of involvement from Cambodian authorities in the mass exodus.

The departures from scamming compounds have created a humanitarian crisis on the streets that, activists say, is being

ignored by the Cambodian government. In scenes of chaos and suffering, thousands of traumatized survivors are being left to fend for themselves with no state support,” Montse Ferrer, regional research director for Amnesty International, said in a statement.

“The Royal Government of Cambodia rejects claims that it is failing trafficking victims or tolerating abuse linked to scam compounds,” said Neth Pheaktra, Minister of Information Cambodia in response to the claims. “All individuals are screened to separate victims from perpetrators, with victims receiving protection, shelter, medical care, and assistance for safe return.”

Li Ling, a rescuer, said she had a list of 223 people, mostly from Uganda and Kenya who had come out from compounds in Cambodia asking for help to get home. She and her partner had spent at least $1000 of their own money to shelter some of the most desperate cases, but cannot sustain that beyond another week.

As of last week, some had gone back to work in the compounds, she added. It was that or face sleeping on the streets.

“When international organizations based in Cambodia are continuing to tell victims to go to their embassies, but the embassies tell us frankly, they don’t have a clear path or process, the responsibility is being shoved back and forth, creating a closed loop with no exit,” she said. “This is not a one-off failure, but a systemic breakdown.”

Those victims waited for hours outside the Phnom Penh office of the International Organization for Migration, a U.N. agency, she said, but were told the Caritas shelter, which IOM works, with is full.

Youga, from the Democratic Republic of the Congo, said he was beaten often while inside a compound because he refused to work. He was determined to get out and escaped on his own as the mass releases began.

The Associated Press was not able to independently verify all of his journey but saw messages of his pleas for help to IOM. The agency said they could not comment on individual cases.

Hand to mouth WHILE the shelter is still operating, of most

immediate concern in the coming weeks is the budget for food, Taylor said. “It’s hand to mouth.”

The Caritas shelter received financial support from Winrock International, USAID’s partner in Cambodia, according to Taylor who oversaw the funding. It was due to receive $1.4 million from USAID from September 2023 through the first part of 2026. That source of funding went away after US foreign assistance was suspended and USAID was dismantled in early 2025.

ASIA Vital Components (AVC) Chairman Spencer Shen introduces the

laboratory equipment during an interview with The Associated Press in New Taipei City, Taiwan, Friday, Jan. 30, 2026. AP PHOTO/CHIANG YING-YING

EU struggles to find common ground on trade and defense

By Sam Mcneil The Associated Press

BILZEN-HOESELT, Belgium—

Leaders from across the European Union are meeting Thursday in a Belgian castle as the 27-nation bloc faces antagonism from US President Donald Trump, strong-arm economic tactics from China and hybrid threats from Russia—challenges that have prompted a rethink of Europe’s approach to diplomacy and trade.

“We all know we must change course, and we all know the direction,” Belgian Prime Minister Bart De Wever told a meeting with some European leaders on Wednesday. “Yet it sometimes feels like we’re standing on the bridge of the ship staring at the horizon without being able to touch the helm.”

But there are competing visions of how the EU must change. Thursday’s meeting is to shape proposals for another summit in late March.

As leaders are set to walk across a drawbridge to the 16th-century Alden Biesen castle, the fault lines in the battle for Europe’s future are becoming clear.

German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni lead a wing of the bloc calling for deregulation, rebooting Europe’s relationship with Washington and forging trade deals like the recent one struck with the Mercosur nations of South America.

“We must deregulate every sector,” Merz said Wednesday. But they are at odds with France.

One key issue is how much of the EU’s defense spending should be restricted to buying from EU arms companies. French President Emmanuel Macron argues that EU companies should get priority, while Merz and Meloni say purchases should be from both foreign and European firms.

Macron has urged the EU to protect its industries overall via applying “European preference” in key sectors

By Julhas Alam, Sheikh Saaliq & Shonal Ganguly

The Associated Press

DHAKA, Bangladesh—Voters cast ballots across Bangladesh on Thursday in a parliamentary election seen as a critical test of the country’s democracy after years of political turmoil.

like cleantech, chemicals, steel, the car industry and defense.

“We need to protect our industry. The Chinese do it, the Americans do it too,” Macron said in an interview with several newspapers including Le Monde and The Financial Times published Tuesday.

Without some European preference on strategic sectors, “Europeans will be swept aside. This is defensive,

but it is essential, because we are facing unfair competitors who no longer respect the rules of the World Trade Organization,” Macron said.

EU leaders will also debate new financial instruments to protect the bloc in a global trading system rocked by Trump’s blitzkrieg of tariffs and China’s restricting of critical mineral exports.

Macron is renewing his call for the EU to be able to borrow money, which he described as “Eurobonds for the future” that would provide an opportunity “to challenge the hegemony of the dollar.”

Merz and Meloni are avoiding the economic revitalization and modernization strategy called for by Mario Draghi, former head of the European Central Bank: deregulation, diversification of trade ties, deep investment in infrastructure, and regulatory integration and simplification across the bloc.

On Thursday, Germany and Italy will call on leaders to act by cutting EU red tape, strengthening the single market and “ensuring an ambitious trade policy based on shared rules and a level playing field.”

That echoes the economic security focus of European Commission Presi -

dent Ursula von der Leyen, who like Merz is a leading figure in the European People’s Party, which is the largest bloc in the European Parliament and claims 13 heads of EU states as members.

In speeches on Wednesday in the European Parliament in Strasbourg, France, and at the European Industry Summit in Antwerp, Belgium, von der Leyen said economic strength underlies everything else.

“Our power on the global stage depends greatly on our strength on the economic front,” she said.

Citizens across the bloc are hungry for a stronger EU and a more unified, stronger and ambitious leadership amid military threats, economic pressures and climate instability, according to an official EU poll, Eurobarometer.

“There has never been a better time for European leaders, national political leaders, to actually leverage on these European citizens’ demand for greater European action,” said Alberto Alemanno, a professor of EU law at the HEC Paris business school.

Associated Press writer Sylvie Corbet in Paris contributed to this report.

Russia fires another barrage at Ukrainian cities as next round of US-brokered talks is unclear

By Susie Blann & Illia Novikov The Associated Press

KYIV, Ukraine—Russia launched a barrage of ballistic missiles and drones at Ukrainian cities in overnight attacks, officials reported on Thursday as Ukrainian President Volodymyr Zelenskyy said Moscow was “hesitating” about another round of US-brokered talks on stopping the fighting.

Washington has proposed further negotiations next week between Russian and Ukrainian delegations in Miami or Abu Dhabi, in the United Arab Emirates, which was the location of the last meeting, Zelenskyy said late Wednesday.

Ukraine “immediately confirmed” it would attend, he said. “So far, as I understand it, Russia is hesitating,” Zelenskyy told reporters in a messaging app interview late Wednesday.

Kremlin spokesman Dmitry Peskov said on Thursday that another round of talks was expected “soon” but gave no further details.

American officials made no comment on the possibility of further talks as part of a yearlong peace effort by the Trump administration. Zelenskyy said last week that the United States has given Ukraine and Russia a June deadline to reach a deal.

But with Russia’s invasion of its neighbor marking its fourth anniversary later this month, disagreements between Moscow and Kyiv over key issues have held up a comprehensive settlement. The issues include who keeps the Ukrainian land that Russia’s army has so far occupied, especially in the eastern Donbas industrial heartland, and Moscow’s demands for Kyiv to surrender more territory.

Ukraine wants Western-backed security guarantees, including a date for joining the European Union, and a postwar reconstruction package in place before it can contemplate signing a proposed 20-point settlement, Zelenskyy said.

Russia has meanwhile continued to pound Ukrainian civilian areas, including residential areas and the power grid, and Moscow has not responded to a US proposal for an “energy ceasefire” that would also halt Ukrainian drone strikes on Russian oil facilities, Zelenskyy said. Overnight from Wednesday to Thursday, Russia fired 219 long-range strike drones, 24 ballistic missiles and a guided aircraft missile at Ukraine, according to the Ukrainian air force. The main targets were the Ukrainian capital, Kyiv, the second-largest city of Kharkiv, Dnipro in central Ukraine, and the southern port city of Odesa, the air force said—all cities that have come under relentless bombardment.

In Dnipro, Russian strikes injured four people, including a 4-year-old girl and a newborn boy, regional head Oleksandr Hanzha wrote on Telegram. In Kyiv, several residential buildings were damaged, and two people were injured, according to the city administration.

Temperatures have moved above freezing point in Kyiv, but it is still bitterly cold in the city. Mayor Vitalii Klitschko said that almost 2,600 residential buildings were left without heating as the attack damaged critical infrastructure.

In Odesa, one person was injured as a residential high-rise was partially destroyed and a market and a supermarket caught fire, regional head Oleksandr Hanzha wrote on Telegram.

After a slow start, crowds came to polling stations in the capital, Dhaka, and elsewhere by midmorning. Balloting will continue through Thursday with results expected Friday.

More than 127 million people are eligible to vote in Bangladesh’s first election since former Prime Minister Sheikh Hasina’s government collapsed in 2024 after weeks of mass protests, dubbed by many as a Gen Z uprising. Hasina fled the country and her party is banned from the polls. She is living in exile in India.

Tarique Rahman of the Bangladesh Nationalist Party is a leading contender to form the next government. He is the son of former Prime Minister Khaleda Zia and returned to Bangladesh in December after 17 years in

self-exile in London. Rahman has pledged to rebuild democratic institutions, restore the rule of law and revive the struggling economy.

Challenging the BNP is an 11-party alliance led by the Jamaat-e-Islami, the country’s largest Islamist party, which was banned under Hasina but has gained prominence since her removal. The conservative religious group’s growing influence has fueled concern,

particularly among women and minority communities, that social freedoms could come under pressure if they come to power. Bangladesh is more than 90% Muslim, while around 8% are Hindu.

Shafiqur Rahman, chief of Jamaat-eIslami, expressed optimism after casting his vote in a polling station.

“It (the election) is a turning point,” he told The Associated Press. “People demand change. They desire change. We also desire the change.”

Voters are choosing new lawmakers

THE vote is taking place under an interim government headed by Nobel Peace Prize laureate Muhammad Yunus, which has said it is committed to delivering a credible and transparent election. As part of that effort, around 500 international observers and foreign journalists will be present, including delegations from the European Union and the Commonwealth, to which Bangladesh belongs.

Bangladesh’s Parliament has 350 seats, including 300 elected directly from singlemember constituencies and 50 reserved for women. Lawmakers are chosen by plurality and the parliament serves a five-year term. The Election Commission recently postponed voting in one constituency after a candidate died.

The election follows a turbulent period marked by mob violence, attacks on Hindu minorities and the press, the growing influence

of Islamists and weakening of the rule of law. It could reshape the domestic stability of Bangladesh, a country whose post-1971 history since gaining independence from Pakistan has been marked by entrenched political parties, military coups and allegations of vote rigging. Young voters, many of whom played a central role in the 2024 uprising, are expected to be influential. Some 5 million first-time voters are eligible.

“I think it is a very crucial election because this is the first time we can show our opinion with freedom,” said 28-year-old voter Ikram ul Haque, adding that past elections were far from fair.

“We are celebrating the election. It is like a festival here,” he said. “I hope Bangladesh will have exponential change.” A referendum would set up significant future changes THURSDAY’S election is a critical test not just of leadership but of trust in Bangladesh’s democratic future. Voters can say “Yes” to endorse major reform proposals that stemmed from a national charter signed by major political parties last year.

If a majority of voters favor the referendum, the newly elected Parliament could form a

BLUE lights light up the venue for the EU summit at the Alden Biesen Castle domain in Bilzen-Hoeselt, Belgium, Thursday, Feb. 12, 2026. AP PHOTO/OMAR HAVANA

A MAN strolls through the remnants of a city market following Russia’s attack in Odesa, Ukraine, Thursday, Feb. 12, 2026. AP PHOTO/MICHAEL SHTEKEL

Argentina’s Senate backs President Milei’s contentious labor overhaul after protests

By Isabel Debre The Associated Press

BUENOS AIRES, Argentina— Argentina’s Senate early Thursday gave its overall approval to a labor overhaul that is considered crucial to President Javier Milei’s shock therapy program after hours of debate that unfolded in the shadow of a mass protest outside Congress. Thousands of workers mobilized by powerful trade unions converged on a central square of downtown Buenos Aires earlier Wednesday, blocking traffic and clashing with police as the marathon session got underway.

The fiery standoff underscored the sensitivity of labor rights in this nation dominated since the 1940s by Peronism, a populist movement that has swung right and left ideologically, but has always claimed to champion workers’ rights.

At around 1:30 a.m., senators backed the labor bill in principle by a vote of 42-30 after 13 hours of debate, handing Milei an initial victory that underscored the radical libertarian’s newfound leverage in Congress and more pragmatic approach to legislating. After granting the bill general approval, lawmakers began a lengthy articleby-article vote.

The bill still faces a test next month in the lower house, where some Senate amendments could be changed or reversed.

Supporters of Milei’s revamped labor law say high severance payouts and taxes make it almost impossible to fire employees, constraining productivity and discouraging business from formal employment. Almost half of Argentines work off the books. Private sector job growth has remained stagnant for 14 years.

“With the modernization of the labor system, more people will have access to formal, legal employment,” Milei’s La Libertad Avanza party said in a statement as the debate kicked off. “We are rebuilding Argentina from the ground up, starting with employment.”

The bill has drawn fierce opposition from labor unions and their Peronist allies, who argue it would roll back measures that protect workers from abuse and the nation’s notoriously frequent economic shocks.

“If severance pay, overtime and vacation time—in other words, all the protections workers have gained over time—are up for grabs, it won’t make things better for anyone,” said Axel Kicillof, the governor of Buenos Aires province and the most powerful elected official in the Peronist opposition.

Milei hopes to overcome a history of failure

SUCCESSIVE governments, as well as a military dictatorship, have promised to overhaul Argentina’s labor legislation and have failed.

“This is the most important reform in the last 50 years,” said Sen. Patricia Bullrich, leader of the La Libertad Avanza bloc in Congress.

“No government has achieved it, and I believe we will.”

One far-reaching reform came

US Energy Secretary Chris Wright visits Venezuela to assess oil industry overhaul

By Regina Garcia Cano

The Associated Press

CARACAS, Venezuela—

United States Energy

Secretary Chris Wright arrived Wednesday in Venezuela for a firsthand assessment of the country’s oil industry, a visit that further asserts the US government’s self-appointed role in turning around Venezuela’s dilapidated energy sector.

tantalizingly close in 1984 only to collapse in the Senate by a single vote. Another cleared the Peronistdominated Congress in 2000, only to be discredited by a vote-buying scandal and promptly overturned. Yet another attempt in 2017 didn’t even make it to a vote due to union pushback.

Milei himself used an executive order to muscle through an overhaul after entering office in 2023, only for it to get tied up in court after unions filed for injunctions. But after clinching a big midterm victory last year, with help from his ally US President Donald Trump, Milei has a fresh mandate to enact reforms that for decades businesses have desired and international financial institutions have demanded.

The bill under discussion would curb the right to strike, extend trial periods during which companies can fire unproductive new employees, defang national trade unions by allowing collective bargaining at company level and unwind a byzantine system of severance payments by narrowing grounds for wrongful dismissal.

Experts said that even if the government is forced to make concessions in Congress, the passage of anything called “labor reform” would be a huge achievement in Argentina, where many current clauses have been in place since the mid-1970s.

“I’m skeptical about whether it’s going to induce a massive formalization of workers in the labor market. That’s why I think the importance is much more political, symbolic,” said Ignacio Labaqui, a Buenos Aires-based senior analyst at risk consultancy Medley Global Advisors. “For Peronism, it would definitely be a huge defeat.”

Violent scenes and pragmatic talks

MILEI and his officials lashed out at left-wing opponents as security forces struggled to control protesters outside Congress, firing water cannons and rubber bullets. Demonstrators lobbed petrol bombs, stones and water bottles. Authorities said they made at least 15 arrests, among them protesters accused of attacking police officers.

“The stale old union establishment is calling to ‘set the country on fire’ because they don’t like labor modernization,” government spokesperson Javier Lanari wrote on X. “They choose to protect their sectoral privileges at the expense of harming Argentines.”

Despite the show of force, some doubted that Argentina’s oldschool trade unions would put up much more of a fight.

With their Peronist backers weakened in Congress and reputation long sullied by allegations of corruption and cronyism, the trade federations are not the force they once were. Mass protests petered out in the last year as both Milei and union bosses shied away from frontal assaults in favor of negotiations.

Wright met Venezuela’s acting President Delcy Rodríguez at the Miraflores presidential palace in the capital, Caracas. He is expected to meet with government officials, oil executives and others during a three-day visit to the South American country.

Wright’s visit comes as the administration of US President Donald Trump continues to lift sanctions to allow foreign companies to operate in Venezuela and help rebuild the nation’s most important industry.

It follows last month’s enactment of a Venezuelan law that opened the nation’s oil sector to private investment, reversing a tenet of the selfproclaimed socialist movement that has ruled the country for more than two decades.

“I bring today a message from President Trump,” Wright told reporters as he stood next to Rodríguez with flags

NATO launches Arctic Sentry initiative to strengthen security in High North

By Lorne Cook

The Associated Press

BRUSSELS — NATO on Wednesday launched a new military effort

dubbed Arctic Sentry aimed at improving security in the High North, a month after US President Donald Trump ramped up tensions in the alliance with his threats to annex Greenland.

Initially, Arctic Sentry will be the NATO label for national military exercises in the region, such as Denmark’s Arctic Endurance—which angered Trump so much that he threatened to slap tariffs on allies taking part—and Norway’s Cold Response drills.

Arctic Sentry is not a military operation. It does not involve the permanent or long-term deployment of troops to the region under a NATO banner.

“What is really new about it is that for the first time now we will bring everything we do in the Arctic together under one command,” NATO Secretary-General Mark Rutte told reporters in Brussels. He said it would help the alliance to “assess which (security) gaps there are which we have to fill.”

“In the face of Russia’s increased military activity and China’s growing interest in the High North, it was crucial that we do more,” Rutte added.

Arctic security has been on NATO’s agenda in recent years—seven allies lie in the region, along with Russia—but pressure to act accelerated as Trump’s determination to “get” Greenland fueled tensions among the allies.

NATO’s role in this series of military activities, which will be coordinated through its US headquarters in Norfolk, Virginia, is aimed at countering Russian and Chinese influence in the High North, which includes Greenland.

NATO’s Supreme Allied Commander Europe, US Air Force Gen. Alexus Grynkewich, said in a statement that “Arctic Sentry underscores the alliance’s commitment to safeguard its members and maintain stability in one of the world’s most strategically significant and environmentally challenging areas.”

As part of the effort, the United Kingdom has announced that the number of British troops deployed to Norway will double over three years from 1,000 to 2,000. Some will be involved in Exercise Lion Protector, already planned for September.

from both countries behind them. “He is passionately committed to absolutely transforming the relationship between the United States and Venezuela, part of a broader agenda to make the Americas great again, to bring our countries closer together, to bring commerce, peace, prosperity, jobs, opportunity to the people of Venezuela.”

Rodríguez was sworn into her new role after the brazen Jan. 3 seizure of then-President Nicolás Maduro in a US military attack in Caracas. She proposed the overhaul of the country’s energy law after Trump said his administration would take control of Venezuela’s oil exports and revitalize the ailing industry by luring foreign investment.

Rodríguez on Wednesday acknowl -

edged that Venezuela’s relationship with the US has had “highs and lows” but said both countries are now working on a mutually benefiting “energy agenda.”

“Let diplomatic dialogue ... and energy dialogue be the appropriate and suitable channels for the US and Venezuela to maturely determine how to move forward,” she said.

Rodríguez’s government expects the changes to the country’s oil law to serve as assurances for major US oil companies that have so far hesitated about returning to the volatile country. Some of those companies lost investments when the ruling party enacted the existing law two decades ago to favor Venezuela’s state-run oil company, PDVSA.

The new law now grants private companies control over oil production and sales, ending PDVSA’s monopoly over those activities as well as pricing. It also allows for independent arbitration of disputes, removing a mandate for disagreements to be settled only in Venezuelan courts, which are controlled by the ruling party.

Foreign investors view the involvement of independent arbitrators as crucial to guard against future expropriation.

Wright told reporters the reform “is a meaningful step in the right direction” but “probably not far and clear enough to encourage the kind of large capital flows” the US would like to see in Venezuela.

Wright planned to visit oil fields

Thursday.

Venezuela, which has the world’s largest proven oil reserves and produces about 1 million barrels a day, has long relied on oil revenue as a lifeblood of its economy.

Trump imposed crippling sanctions on Venezuela’s oil industry during his first term, locking out the state-owned company Petróleos de Venezuela S.A. of the global oil markets in an attempt to topple Maduro. That pushed his government to rely on a shadowy fleet of unflagged tankers to smuggle deeply discounted crude into global supply chains. In December, Trump ordered a blockade of all “sanctioned oil tankers” entering or leaving the South American country, ramping up pressure on Maduro in a move that seemed designed to put a tighter chokehold on Venezuela’s economy. US forces that month also began seizing oil tankers off Venezuela’s Caribbean coast. Since Maduro’s Jan. 3 ouster, the Trump administration set out to con

trol the production, refining and global distribution of Venezuela’s petroleum products and oversee where the rev

enue flows. The administration also began lifting broad sanctions, but also

Press writers Clara Preve and Débora Rey contributed

VENEZUELAN acting President Delcy Rodriguez greets US Energy Secretary Chris Wright at Miraflores presidential palace in Caracas, Venezuela, Wednesday, Feb. 11, 2026. AP PHOTO/ARIANA CUBILLOS

A MOLOTOV cocktail bursts into flames in front of police during a march by unions and opposition supporters against a labor reform bill proposed by President Javier Milei’s government in Buenos Aires, Argentina, Wednesday, Feb. 11, 2026. AP PHOTO/RODRIGO ABD

DILG files graft charges vs 1,000 fire officials; seeks BFP chief’s removal

SBy Jonathan L. Mayuga @jonlmayuga

OME 1,000 officials and personnel of the Bureau of Fire Protection (BFP) led by BFP chief Dir. Jesus P. Fernandez nationwide are facing graft charges, Department of Interior and Local Government (DILG) Secretary Jonvic Remulla said.

Remulla said he will also recommend the removal of Fernandez, who used to be the head of the Bids and Awards Committee (BAC) of the organization.

All BACs of the BFP and the

chief of the BFP from 2014 to the present, he said, are facing graft charges.

“The President is the appointing authority, so, I will recommend his removal, Remulla told the media at a press conference in Quezon City.

According to Remulla, Fernandez knows the ecosystem of the corruption in the BFP.

He said the investigation conducted by the DILG revealed the pattern of corruption and modus operandi of unscrupulous BFP personnel, particularly fire inspectors.

Hontiveros to Quiboloy witness: Cooperate now,

By Butch Fernandez @butchfBM

COOPERATE with authorities once and for all, and point to the bigger fish in human trafficking involving the operations of disgraced pastor Apollo Quiboloy.

This was the advice given by Sen. Risa Hontiveros to witness Michael Maurillo, alias Rene, against whom a warrant of arrest for cyber libel has been issued by authorities. His Senate testimony had become controversial after he accused Hontiveros and her staff of coercing him to testify against Quiboloy, a claim the senator has strongly denounced.

Asked to react to reports about the arrest warrant, Hontiveros said Thursday, “Very good development po. I welcome the news that an arrest warrant has been issued against Michael Maurillo related to the criminal case filed against him for lying about the Senate investigation on Apollo Quiboloy,” she said, speaking partly in Filipino.

name ‘big fish’

Asked if she has a message for him, the senator said, “Actually, maybe this is the best chance, if Michael is listening . . . . this could be the best opportunity for him to finally cooperate again with authorities and identify the big fish, as he once did in the Senate investigation.”

She recalled that it was Murillo who voluntarily sought them out and gave information, only to turn around later and say he was under threat to testify.

“He first told my office, and it was proven by DOJ, that based on evidence, he was the one who approached us. He definitely was not coerced or paid to say what he knows about Quiboloy. So with these developments, criminal case and finally a warrant, it means the DOJ believes he was lying against my office and the Senate.”

Asked who was the “big fish” she hoped Maurillo would name, Hontiveros noted that they had started to turn up information against Quiboloy. The Davaobased pastor of the Kingdom of Jesus Christ (KOJC) was arrested last year, and several of his properties raided, in connection with charges he had operated a network that uses minors for sexual and commercial exploitation. He faces separate charges in the United States.

“Well, that was what we had started to turn up about Apollo Quiboloy and because Michael voluntarily went to our office before, and now the DOJ has proven that that’s what really happened. This is his chance to finally expose the big fish behind all the operations of Apollo Quiboloy.

Remulla said that in Silang, even his nephew, who runs a small business, became a victim of such modus operandi, wherein even small businessmen are targeted by unscrupulous individuals.

He narrated that his nephew, a son of his sibling, went to renew his business permit on January 24 and went to the BFP booth. He said his nephew was told to buy a fire extinguisher at a specific store and did so.

On January 28, his nephew again went to follow up on his request for a fire safety inspector but

was told to buy more units.

According to Remulla, the BFP have changed its strategy by sending in advance the seller of fire extinguishers to the personnel before the fire inspectors.

He said upon backtracking, 99 percent of those interviewed by DILG investigators. Remulla revealed that he was even bribed into allowing the massive corruption in the purchase of firetrucks.

“I was offered P1.5 million for every fire truck,” he said.

According to Remulla, a friend approached him, relay -

Rebuilt Mahayag

ing the offer to receive the alleged “commission,” compelling him to stop the acquisition of fire trucks pending the filing of appropriate charges.

Aside from selling fire extinguishers and the unscrupulous practice of fire inspectors and rigging of bidding for supplies, the DILG also received minor complaints, which he vowed to look into.

Remulla said that he still has faith that the current initiative will address the corruption at the BFP, adding that he is serious about reforming the organization.

Dam to curb flooding, boost rice output in Zamboanga del Sur–Marcos

By Samuel Medenilla @sam_medenilla

TBy

HE completed reconstruction of the Mahayag Dam in Zamboanga del Sur is expected to minimize the risk of flooding and boost rice production in the four municipalities in the province, according to President Ferdinand Marcos.

The Chief Executive led the inauguration last Thursday of the new infrastructure, which will benefit over 3,100 farmers and their families in the municipalities of Mahayag, Molave, Sominot, and Ramon Magsaysay.

“This means that the water supply will be continuous [in the said municipalities]. Not only will your crops increase—you will also be assured that you will be able to meet your daily needs,” Marcos said in

Filipino during the inauguration ceremony.

“Through this project, we hope to further improve water diversion, irrigation, and other agricultural activities in the region,” he added.

The 5,044.28 hectares of farmland, which relied on the Mahayag Dam for irrigation, yield an average 25 million kilos of palay or unhusked rice even before the reconstruction of the said infrastructure.

Marcos said the upgraded Mahayag Dam will also serve as flood control during the rainy season.

“This will also help reduce flooding and the overall security of homes and livelihoods here in Zamboanga del Sur,” he said.

The Mahayag dam is part of the Salug River Irrigation System (Salug RIS)–the largest irrigation

system in the entire Zamboanga peninsula. It was reconstructed with a budget of P450 million after suffering damage from severe floods during the late 2022 and early 2023.

While in Zamboanga Del Sur, Marcos also led the distribution of 20 solar-powered pump irrigation projects (SPIP) to 635 farmers, which will allow them to provide sufficient water to their farmlands without the use of diesel and producing carbon emissions.

Under the 2026 General Appropriations Act, he said P370 million will be allocated for the construction of farm-to-market roads in Zamboanga Del Sur.

Before ending his trip in the province, Marcos also led a meeting of the Regional Development Council for the Zamboanga Peninsula or Region 9.

Marcos promises swift relief and rehabilitation for areas affected by Tropical Storm “Basyang”

PRESIDENT Ferdinand Marcos has committed to provide the necessary relief and funds for rehabilitation in areas which were devastated by Tropical Storm “Basyang” (international name: Penha).

The Chief Executive made the assurance to local officials of the stormhit areas during their Malacañang courtesy call on Wednesday.

“In the meeting, it was emphasized the earlier release of funds for preparations before disasters strike, expediting processes to distribute aid immediately, and focusing on the rapid distribution of seeds so that farmers can start again [in planting crops],” the Presidential Communications Office (PCO) said in Filipino in a statement.

“The President issued a directive to simplify processes and ensure that aid reaches families in need quickly,” it added.

Also discussed in the meeting was the allocation of budget for river clearing operations, which is expected to mitigate flooding in the affected areas.

Among the local officials, who met with the President are Southern Leyte Gov. Damian Mercado; Oriental Mindoro Gov. Humerlito Dolor; Occidental Mindoro Gov. Eduardo Gadiano; Eastern Samar Gov. Ralph Evardone; Northern Samar Gov. Harris Ongchuan; Leyte Gov. Carlos Petilla; Samar Acting Gov. Arnold Tan; and Catanduanes Gov. Patrick Azanza.

During the weekend, the Office of Civil Defense reported that the death toll due to Tropical Storm Basyang rose to 12 and it affected 467,000 people in Visayas and Mindanao.

The recent weather disturbance entered the Philippine Areas of Responsibility (PAR) on 3 February 2026. After it made landfall over Bayabas, Surigao Del Sur, it slightly weakened last Friday. Samuel Medenilla

Nartatez warns vloggers on unauthorized use of PNP uniforms in content creation

By Rex Anthony Naval

PHILIPPINE National Police (PNP)

chief Gen. Jose Melencio Nartatez

Jr. on Thursday warned content creators and vloggers regarding the unauthorized use of the service’s uniforms in their video contents or blogs.

Such actions, the PNP chief said, are violations of pertinent laws aside from misleading the public.

He also stressed that impersonating law enforcement personnel, even for entertainment purposes, carries serious

legal consequences.

Nartatez issued this warning as the PNP is now investigating a blogger for allegedly wearing a “ceremonial police uniform” in his video.

Reports also said that this individual was not authorized to wear that type of PNP uniform.

“We are taking this matter seriously, we are now conducting an investigation on this matter to determine accountability and to send a message that there are consequences for the unauthorized use of police uniforms,” Nartatez said.

As this developed, the PNP chief also raised concerns about the role of modern technology in spreading misinformation.

“We are aware that in today’s digital age, AI technology can be misused to create misleading images or videos, including ones that could impersonate police officers. We urge everyone to verify content before sharing because disinformation undermines public trust and safety,” he added.

On Wednesday, PNP information chief and spokesperson Brig. Gen. Randulf Tuaño said the vlogger could be charged for viola -

tion of Article 179 of the Revised Penal Code. This law penalizes unauthorized wearing of PNP uniform or insignia with imprisonment of up to six months. Tuaño urged the public to report individuals misrepresenting themselves as police officers. By doing so, everyone helps protect communities from scams, fraud, and potential harm.

Under Executive Order No. 297, establishments that illegally manufacture or sell police uniforms may face closure, confiscation of products, license cancellation and fines.

Lawmakers clash over ‘weak’ youth remark, call for national reforms on mental health

By Jovee Marie N. Dela Cruz @joveemarie

AGROWING political de -

bate over youth mental health has escalated into a broader national issue, as lawmakers called for systemic reforms following Sen. Robinhood Padilla’s description of today’s generation as “weak.” Padilla made the remark during a Senate Committee on Public Information and Mass Media hearing on the proposed Children’s Safety in Social Media Act, linking young people’s mental health

BARMM gives 300 rescue, medical vehicles to Lanao del Sur barangays

DAVAO CITY—The interior central Mindanao province of Lanao del Sur will be 300 vehicles more efficient and capable in responding to rescue concerns and addressing medical emergencies in one of the massive single turnover of vehicles for the barangays.

The Bangsamoro Ministry of the Interior and Local Government (MILG) donated the vehicles to 90 barangays in Lanao del Sur on Tuesday to strengthen their disaster preparedness and emergency response.

“This is part of the 200 rescue vehicles and 100 medical equipment units under the MILG’s Special Development Fund [SDF] 2024,” said Interim Chief Minister Abdulraof Macacua in a message delivered by Marvin Mokamad, director of MILG’s Internal Affairs Services.

A big part of the province revolves its life and activities around Lake Lanao, the country’s second largest lake.

“This project is not only a response to past struggles. It is our commitment to ensure that you have the means to protect and nurture every life in your barangay. These vehicles will allow you to respond swiftly to those in need when disaster strikes,” he added.

The beneficiary barangays were selected based on MILG guidelines, primarily through the Local Government Functionality Appraisal for Barangays (LoGFA-B). Priority was given to those that obtained an Ideal Functionality rating and maintained highly functional Barangay Disaster Risk Reduction and Management Councils (BDRRMCs), consistent with the Disaster Risk Reduction and Management Performance Compliance and Monitoring System (DRRM-PCMS). Barangays under special circumstances were also considered.

As part of the turnover of the vehicles, the MILG and recipient barangays signed a Memorandum of Agreement (MOA) outlining obligations and accountability mechanisms governing the use of the vehicles.

The agreement requires that the units be used exclusively for disaster response and emergency-related operations, subject to monitoring and evaluation by the Ministry, and mandates proper maintenance, safekeeping, and reporting.

Meanwhile, assistance to the Bangsamoro communities does not only accord those inside the designated central Mindanao provinces of Lanao del Sur and the two Maguindanao provinces, as well as the southwestern island provinces of Basilan and Tawi-Tawi.

Recently, it assisted Moro villagers in Davao de Oro in the southeastern Davao Region to have their own multi-purpose training center.

The facility was formally turned over on January 26 to the Kagan community in Barangay Bongbong, Pantukan, Davao de Oro. It was the Ministry of Human Settlements and Development (MHSD) which facilitated the project in partnership with the Office of Member of Parliament (MP) Randolph Parcasio.

MHSD Bangsamoro Director-General Esmael Ebrahim said the initiative reflects the government’s continuing commitment to serving Bangsamoro communities, both within and beyond the autonomous region, to promote their overall well-being.

“We [MHSD] will never get tired of coordinating with the local government units [LGU] to implement development programs,” Ebrahim reassured.

Datu Hadji Adam Tom-Cale, a member of Jama’ah Ar-Rayyan and the designated custodian of the facility, said the center will help open new development opportunities for the community. Manuel T. Cayon

struggles to heavy exposure to social media. His comments prompted strong reactions from lawmakers who argue the issue reflects deeper structural challenges facing the country.

House Assistant Minority Leader Sarah Elago of the Gabriela Women’s Party said framing youth mental health struggles as weakness diverts attention from long standing social and economic pressures.

“It is dangerous to label young people as weak simply because they speak openly about depression and mental health,” Elago said. “Mental health problems did not begin

LGUs

Ttold:

with this generation. They have long existed but were once hidden by silence, stigma, and lack of awareness.”

She emphasized that acknowledging mental health struggles “is not a sign of weakness” but “a sign of courage—the courage to recognize, understand, and confront one’s experiences.”

Elago said the debate should push policymakers to confront national conditions affecting young Filipinos, including the education crisis, unemployment, poverty, rising living costs, and the spread of misinformation and

online abuse.

“If we truly want to protect the youth in digital spaces, the solution is not prohibition or blame,” she said. “What is needed is a comprehensive policy—digital literacy, stronger accountability for major tech companies, free and adequate mental health services in schools and communities, and stronger child protection mechanisms.”

Kabataan Party-list Rep. Atty. Renee Co also framed the issue as a reflection of broader governance challenges.

“It is not surprising that young people experience depression

Coordinate intl sister-city partnerships with PHL embassies

HE Department of the Interior and Local Government (DILG) urged all local government units (LGUs) to strictly coordinate with Philippine embassies, consulates, or missions when entering into international sistercity or town twinning agreements.

Under Memorandum Circular No. 20-26-OO4, the DILG warned that engagements without proper coordination with the Philippine embassies may be construed as unauthorized diplomacy.

“This policy ensures that international engagements of LGUs are legitimate, and to prevent such activities from being perceived as unauthorized diplomacy. We want to make sure that everything is in accordance with the Foreign Service and diplomatic functions of the Republic,” the DILG MC stated. The Circular provides additional guidelines in the implementation of international sister-city agreements to ensure that they adhere to applicable laws, rules, and regulations of the Philippines.

Under the directive, LGUs with

upcoming international sistercity or town-twinning activities, meetings, negotiations, or MOA signings, whether to be conducted physically or virtually, must formally coordinate with the concerned Philippine Embassy, Consulate, or Mission that has jurisdiction over the sister city’s country.

Coordination must be made at least seven days before the activity and should include the proposed itinerary, agenda, list of participants, and, when applicable, a draft MOA. The requirement applies even when travel is classified as personal or non-official, provided LGU-to-LGU engagement is included in the trip.

“All international sister-city activities conducted abroad must be acknowledged by the appropriate Philippine diplomatic post,” the Department emphasized, noting that this is necessary to ensure compliance with foreign service protocols and documentation standards.

The circular also mandates

LGUs to designate their Local Government Relations Unit (LGRU) or equivalent office to handle coordination and maintain official records of communications with diplomatic posts. Proof of prior coordination must be submitted as part of applications for Foreign Travel Authority (FTA).

Sister-city agreements are recognized under the 1987 Constitution and the Local Government Code of 1991, which grant LGUs the authority to enter into partnerships for mutual benefit. However, the DILG stressed that such authority must be exercised responsibly.

“The goal is not to restrict international cooperation, but to professionalize and safeguard it,” the DILG said. “Proper coordination protects both the LGUs and the national interest.”

The memorandum applies to all provinces, cities, and municipalities with existing or planned international sister-city or town twinning partnerships.

Jonathan L. Mayuga

Revilla files counter-affidavit before the DOJ on plunder case

FORMER Senator Ramong “Bong” Revilla Jr. on Thursday filed his counteraffidavit before the Department of Justice (DOJ) on the plunder, graft and direct bribery charges filed against him for allegedly receiving kickbacks from the government’s control projects. Revilla, who was brought to the DOJ from his detention at the Quezon City Jail Male Dormitory in Payatas was assisted by his legal team in filing his counter-affidavit.

The former senator is undergoing preliminary investigation before the DOJ for violation of Section 3 ( e ) of Republic 3019 or the AntiGraft and Corrupt Practices Act, plunder under Republic Act 7080 (The Anti-Plunder Act), direct bribery and receiving gifts by public officers, and corruption of public officers.

He was earlier charged before the Sandiganbayan by the Office of the Ombudsman for malversation of public funds through falsification of public documents and graft in connection with the P92.8 million anomalous flood control project in Pandi town in Bulacan. Revilla is being detained for the malversation charges which is a non-bailable offense. The plunder charges stemmed from the claim of Department of Public Works and Highways Undersecretary Roberto Bernardo, one of the state witnesses in the flood control scandal under the DOJ-Witness Protection Program (DOJWPP), that he delivered P125 million to Revilla’s residence in 2024, and another P250 million delivered by his staff before the 2025 elections in exchange for facilitating or endorsing flood control projects.

In an interview, Lawyer Francesca Senga, spokesman for Revilla’s legal team, pointed out the inconsistencies in the allegations made by Bernardo in the affidavits he executed. She claimed that Bernardo executed a total of six affidavits but only two became the basis of the plunder complaint.

She also pointed out the inconsistencies in Bernardo’s affidavits pertaining to the amounts allegedly received by Revilla as kickbacks and the dates the money were supposedly delivered to him.

Senga added that even the affidavits also contain conflicting lists of projects allegedly endorsed by Revilla.

“There are also no documents or evidence provided that would show his name or signature to link him in these projects,” the lawyer explained.

Senga also said they were surprised to learn that Revilla’s co-accused namely Bernardo and DPWH officials Henry Alcantara and Gerard Opulencia have manifested before the panel of prosecutors that they would no longer file their respective counteraffidavits since they have already been discharged as state witnesses.

She said this would leave Revilla as the lone respondent in the plunder case.

“How can it be a conspiracy if there is only one accused?” Senga said. “This is new to us, their manifestation. Four were charged but three are under the Witness Protection Program [WPP],” she noted.

Section 2 of the Anti-Plunder Act (Definition of the Crime of Plunder, Penalties), states: “Any public officer who, by himself or in connivance with members of

when they face daily crises—from education to corruption,” Co said.

“Why blame the youth for problems created by a government that has failed to solve them? At least the youth are fighting back.”

Co underscored that mental health concerns should be treated as a public policy matter rather than an individual failing.

“The mental health crisis is real. It is not merely an individual problem. The government must address it instead of washing its hands of responsibility,” she said.

She added that Filipino youth are redefining resilience in the

face of systemic problems. “From past to present, the youth redefine what it means to be strong— from enduring a broken system to bravely fighting to change it,” Co said. “Recognizing problems is not a weakness. Gen Z is strong enough to see this and fight for change.”

Lawmakers vowed to advance reforms calling for a coordinated national response on mental health, digital safety, and youth welfare— issues they say have moved beyond generational concerns and now demand action as matters of public policy and national development.

NFA expands tonner bag system to 42 more warehouses to cut costs and boost capacity

THE National Food Authority (NFA) will expand the adoption of the 1 metric ton (MT) bulk bag system in 42 more warehouses nationwide this year to reduce costs and increase storage capacity.

With 45 branches nationwide, NFA Administrator Larry Lacson said he instructed every branch to allot one warehouse to use the tonner bag system. Currently, the agency operates over 300 warehouses across the country.

This, after the grains agency kicked off the tonner bag system at three sites last year in Nueva Ecija, Occidental Mindoro, and Davao del Sur.

“There are 45 branches nationwide, and we already have three [that use the 1 MT bag].

So the rest of the 42 will have a warehouse to adapt that tonner bag system,” Lacson told reporters on the sidelines of the Bureau of Plant Industry’s (BPI) 96th anniversary celebration in Manila on Wednesday.

“Our target is before June 2028, almost all [or] the majority of warehouses will be adopting the tonner bag system,” he said.

Lacson said the grains agency will bankroll the tonner bag system in warehouses through its corporate receipts, since the annual government funding was only adequate for its buffer stocking requirement.

his family, relatives by affinity or consanguinity, business associates, subordinates or other persons, amasses, accumulates or acquires ill-gotten wealth through a combination or series of overt or criminal acts as described in Section 1(d) hereof in the aggregate amount or total value of at P50,000,000.00) shall be guilty of the crime of plunder and shall be punished by reclusion perpetua to death.

“We will have to review the documents and the legal team would have to discuss these new developments,” Senga said.

“Definitely, Senator Bong will avail all the allowable remedies under the law,” he added.

DOJ spokesman Polo Martinez, however, explained that none of the respondents in the plunder case is exempt from filing their respective counteraffidavit, unless they choose to waive filing their defenses.

“If said respondent has been admitted as a state witness into the WPP, they must allege such fact, as a matter of defense, in their respective counter affidavits,” Martinez said.

He added that as part of WPP procedure, state witnesses will have to provide the panel of prosecutors a copy of a “Certificate of Materiality” issued by the WPP.

“Only upon fulfillment of these requirements will the panel discharge them from the filing of the case in court, if ever,” he added.

Martinez also explained that the resolution of the panel would still contain discussion on the participation of the accused-state witnesses in the case, including the claim of conspiracy.

The preliminary investigation will continue on February 20.

Joel R. San Juan

Under its 2026 General Appropriations Act (GAA), P11.29 billion has been allocated to the NFA.

Broken down, P9 billion would bankroll the purchase of unmilled rice; P2.1 billion for milling and prepositioning; P80 million for the establishment of warehouses; and P35 million for the procurement of dryers. He expressed optimism that the NFA could accomplish the initiative this year, since this would only require forklifts and sacks for the bagging. While Lacson did not disclose the total budget for the plan, he explained that the sack alone would cost P2 million per warehouse. For the three sites that already employ the tonner bag system since last year, Lacson said the agency’s initial assessment showed that it saved warehouse space, time, and storage costs. The government explained that the tonner bag system reduces storage and transport costs, with the airtight bags helping preserve grain quality by protecting against moisture, heat, insects, and rodents. This also simplifies segregation of grain types, enhances pest control, and reduces pressure on physical storage infrastructure, it added. Ada Pelonia

Lawmakers demand urgent maritime reforms after 52 die in MV Trisha Kerstin 3 sinking

LAWMAKERS on Thursday called for urgent national reforms in maritime safety following the sinking of MV Trisha Kerstin 3 off Basilan, expressing outrage over the systemic regulatory and enforcement failures that continue to plague the country’s passenger ships.

Akbayan Party-list Rep. Chel Diokno insisted that the country should have learned from the 1987 Doña Paz sea tragedy—the world’s deadliest peacetime maritime disaster.

The MV Trisha Kerstin 3 was traveling from Zamboanga City to Jolo, Sulu, carrying at least 359 people when it capsized, claiming 52 lives as of February 12, 2026.

“That is the real tragedy of this incident. And it makes me really angry that this happened and has been allowed to happen.

Ang Doña Paz po ay nangyari po nung 1987 Thirty-nine years have passed. Parehoparin atwalangnagbagosasitwasyon,” Diokno said during the House Committee on Transportation hearing on the tragedy.

“In that particular tragedy, they also lacked life jackets…the ship was overloaded…and the passengers who were not on the manifest made up nearly half of those on board,” he added, noting that Doña Paz had more than 2,000 passengers on the manifest and over 2,000 others who were not declared.

Diokno underscored his call for accountability, stressing that the continued lack of meaningful reforms in maritime safety enforcement has led to yet another preventable sea tragedy nearly four decades after Doña Paz.

During his questioning, the human rights lawyer—who previously represented victims of the MV Doña Paz as part of his work with the Free Legal Assistance Group—exposed several critical safety lapses surrounding the recent sinking.

Survivors testified that some cargo trucks did not pass through the mandatory weighbridge before boarding, raising concerns about possible overloading and failure to properly assess vessel stability.

Some of them had to break open the cabinet containing the life vests, and some of the vests were already damaged when worn.

“Pagkakuhaponaminng life jacket namin,naka-double knot posiya So, you won’t be able to use it agad-agad kasi kailangan mopasiyangbuksan.Pagka-open ponamin nung life jacket, sirapo,” Muzhaheeda Ismi, a survivor, testified.

Diokno also pressed authorities over discrepancies in the passenger manifest, with transportation officials acknowledging that there were between 92 and 112 undeclared passengers, potentially exceeding the vessel’s authorized capacity.

Diokno also reiterated the need for the strict enforcement of safety standards, noting that many people rely on inter-island vessels.

“For many people, sea travel is not a choice. It is the only viable option. When infrastructure is limited, our people depend on inter-island vessels. This makes strict enforcement of safety standards crucial,” he said.

For his part, Basilan Rep. Ustadz Yusop T. Alano warned that the death toll could rise, as many passengers were unmanifested and search-and-recovery efforts continue.

Speaking after the House Committee on Transportation meeting, Alano said the tragedy reflects “a pattern of systemic failure” in the country’s maritime sector.

“Silence can no longer be mistaken for restraint. It is, unmistakably, a failure of duty,” Alano said. He stressed that the sinking was not a matter of chance but a consequence:

“Destruction came not from a storm but from human failure allowed to repeat itself.” Alano, who frequently commutes on the same shipping lines, criticized operators directly, “I am speaking as a witness and a regular commuter. I myself board their ships, their Ro-Ros, and I will tell you to your face: it is not worth what we pay them.”

He highlighted the unequal distribution of safer vessels, noting that “when it comes to us in BASULTA [Basilan, Sulu, and Tawi-Tawi], what they throw at us are those old ships and floating hazards.”

For island provinces like Basilan, Sulu, and Tawi-Tawi, Alano stressed that the sea is both a highway and a lifeline and that regulations must be enforced beyond paper standards. Jovee Marie N. Dela Cruz

PHL’s FDI in freefall: Governance woes and corruption fears drive investors away

THE latest figures from the Bangko Sentral ng Pilipinas paint a worrying picture: foreign direct investment (FDI) into the country plummeted by 22.1 percent in the first 11 months of 2025. While a glimmer of hope shines through November’s $897 million inflow—the highest in four months—the overall trend is undeniable. Foreign capital is fleeing, driven away by persistent concerns that our government seems frustratingly slow to address: governance standards and corruption. (Read the BusinessMirror story—“Caution rules: FDI dips 22% to $7.1B in January-November,” February 10, 2026).

The numbers speak a language investors understand: caution. Jonathan Ravelas rightly diagnoses a mix of global uncertainty and fierce ASEAN competition. Yet, he also points unflinchingly to “domestic policy noise.” Michael Ricafort is blunter, citing “recent political noise” and specifically referencing the fallout from “anomalous flood control projects” that stalled spending and shattered confidence. The message from the market is deafening: the perceived environment for doing business in the Philippines is deteriorating. It is deeply troubling that amidst this precipitous decline, the critical factor repeatedly highlighted by economists—improved governance and anticorruption measures—remains more a plea than a demonstrable reality. Reinvestment of earnings increased slightly, showing existing players are trying to hold the line. The November bump suggests investors haven’t written us off entirely; they are waiting, watching, and hoping for change. As Ravelas asserts, they become “more selective” when confidence wanes. They seek clarity, stability, and credible reform.

The actionable path forward is not shrouded in mystery. It is laid bare by the data and echoed by every influential economic voice:

Credible anti-corruption drive: Words are cheap. Investors need to see high-profile, non-partisan investigations and convictions related to corruption scandals, like the flood control projects mentioned. Token gestures won’t suffice; systemic reform is demanded.

Policy consistency and clarity: The “domestic policy noise” must cease. Erratic pronouncements, sudden regulatory shifts, and politically motivated interventions create the uncertainty that paralyzes investment decisions. A stable, predictable policy environment is non-negotiable.

Accelerated reform implementation: The window for reform is not infinite. The government must move with urgency to enact and enforce measures that improve transparency, streamline bureaucracy, protect investments, and ensure a level playing field. Speed and competence in execution are critical.

The November figure is a fragile lifeline, not a victory. Turning it into sustained recovery requires unwavering, demonstrable commitment from the highest levels of government.

The consequences of inaction are severe. Declining FDI means fewer highquality jobs, slower technology transfer, reduced tax revenue, and ultimately, diminished prospects for inclusive economic growth. We are losing ground to our ASEAN neighbors not just because of global headwinds, but because of self-inflicted wounds.

The November data offers a reprieve, a chance to change course. It proves investor interest exists, but it is conditional. The government holds the scalpel. It must choose: continue down a path of corrosive uncertainty and diminished investment, or seize this moment to enact the credible, transparent, and decisive governance reforms that are the only true antidote to this investment hemorrhage. The time for rhetoric is over. It’s time to take concrete, enduring steps to improve governance.

BusinessMirror

T. Anthony C. Cabangon

Lourdes M. Fernandez

Jennifer A.

Decline in OFW purchases of condominium due to inflating taxes

PPinoy Marino Rights

ARTICIPATION of Overseas Filipino Workers (OFWs) in Philippine condominium investment has softened materially as they are shifting to  offshore condominium markets.

PRIME Philippines recently presented a 10-year property market review and multi-year projections during the 2026 Annual Outlook and Media Briefing at Grand Hyatt.

PRIME Philippines is the fastest growing real estate service company in the country consistently providing effective integrated real estate solutions to developers, investors, occupiers, land bankers, and other clients.

PRIME reported that residential condos are now end-user led, not investor-driven.

Investor demand has softened due to compressed rental yields, muted capital appreciation over recent years, and heavy taxes imposed on transactions which structurally weaken condo investment returns.

Inflated zonal values ranging from 20-30% have increased transaction costs through inflating taxes and fee bases.

For ordinary assets used to generate income, taxation erodes roughly 36% of revenue, 30 percent of which

are government taxes.

The usual costs include Value Added Tax (17 percent), Capital Gains Tax (8 percent), Broker’s Commission (4 percent), Documentary Stamp Tax (2 percent), Association Dues (2 percent), Real Property Tax (2 percent), Transfer Tax & Registration Fee (1 percent).

Higher interest rates weaken borrowing capacity and reduces mortgage affordability for end-users.

PRIME noted that an estimated 2 in 5 OFWs who previously bought in the Philippines are now allocating to offshore condominium markets. From a pricing perspective, upper-mid condominiums in central Dubai is also reported to be comparable to upper-mid Metro Manila proper.

Rental yields have also shrunk. With yields ranging 5 percent to 10 percent pre-pandemic, the current state is now at 2 percent to 4 percent, more aligned with global standards.

PRIME noted in its 2025 resell-

ing radar that 15 percent to 20 percent were sold at a loss, 30 percent to 40 percent as “break-even,” 5 percent with more than 10 percent returns while the rest “on hold.”

Buyers increasingly favored house-and-lot living over high-density condominium formats, and developers adapted by launching “new normal” products.

PRIME noted that mid to luxury condominiums and residential lots posted estimated value declines of 10 percent to 25 percent in 2025.

The more damaging shift was the deterioration in investor confidence following the flood control scandal, which depressed sentiment and prices for luxury assets. As a result, discounting became more aggressive, with developers offering 20 percent to 30 percent discounts.

PRIME suggested proper actions to address the several issues confronting the real estate industry: (a) realignment of zonal values for the “interest cut cycle”; (b) reduce taxation redundancy for the “weak economic growth”;  (c) encourage longer mortgages for declining investor confidence and (d) first-time home buyer incentive for declining asset values.

According to an Asian Development Bank study conducted in 2023, approximately 27.1 percent of remittances go into savings or investments, 72.7 percent of which are allocated towards real estate.

OFWs often buy homes for their families back home or as investments

Minimum wage determination

Eduardo A. Davad Nonilon G. Reyes

D. Edgard A. Cabangon Benjamin V. Ramos

Aldwin Maralit Tolosa

Rolando M. Manangan

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OEAGLE WATCH

NE of the questions often asked of economics students by non-economics students is why does not the government just raise the minimum wage high enough to eliminate income poverty? [Another frequently asked question is why does not the central bank just print money and distribute these to people, would this not make everybody better off?]

The typical response would be because raising the minimum wage is likely to raise unemployment and could instead increase poverty. If pressed for the reason why this would be the case, an economics student is likely to give an analytical argument involving a supply and demand curve for labor that goes something like this:

“Wage is the price for labor. The higher the wage the more people are

willing to offer their labor services. This implies an upward sloping supply curve of labor (with labor quantity on the vertical axis and wage in the horizontal axis). On the other hand, labor is a cost of production, so the higher the wage, the smaller the quantity of labor that employers will demand. This implies a downward sloping demand curve for labor. One can easily imagine these two curves, one upward sloping and the

other downward sloping, intersecting at a point that identifies the equilibrium wage at which the quantity demanded of labor exactly equals the quantity supplied of labor. If a minimum wage is imposed and it happens to be above the equilibrium wage, then that would result in an excess quantity of people wanting to provide labor compared to what employers would like to hire. There would be two causes of unemployment: (1) additional people wanting to work because of the higher wage who will not be able to find work; and (2) people who will lose jobs because of less demand for labor from employers compared to the equilibrium wage.”

This is one way in which economists argue their points – through what are called analytical models, and this is the classic textbook argument against raising the minimum wage. The other way economists argue their points is through empirical models or through statistical analysis of actual data. [There is a novelty T-shirt popular among economists

for their future. For many Filipino families, owning a home is a top priority, and OFWs play a crucial role in making that dream a reality. In 2020, cash remittances experienced a minor 0.76 percent decline due to the pandemic, dropping from $30.13 billion in 2019 to $29.9 billion.   In 2021, there was strong recovery with a 5.1 percent year-on-year growth to $31.4 billion, driven by the reopening of global economies. In 2022-2023, continued growth driven by land-based and sea-based workers with $32.539 billion in 2022. In 2024, total personal remittances hit a record high of $38.34 billion, a 3% increase from 2023, representing 8.3% of the country’s GDP. As of November 2025, the BSP data showed personal remittances of $35.73 billion. In terms of 2024 total  remittances amounting to $34,492,616,000, the sea-based sector sent home $6,941,085,000, or almost 20 percent, while the land-based sector sent home $27,551,532,000. BSP records showed that the sea-based sector’s remittances (in thousand US dollars) for the past 20 years: $1,669,358 in 2005; $1,949,290 in 2006; $2,236,363 in 2007; US$3,034,553 in 2008; US$3,400,412 in 2009; $3,806,108 in 2010; $4,340,416 in 2011; $4,835,342 in 2012; $5,215,378 in 2013; $5,575,722 in 2014; $5,572,148 in 2015; $5,792,459 See “Gorecho,” A11

that has written on it: “Economists do it with models”.] When economists look at actual episodes of minimum wage increases and carefully analyze their impact on employment, the evidence is more mixed. This involves comparing what happens to employment in places that raised the minimum wage and places that did not raise the minimum wage while controlling for other factors that could impact employment. The typical finding is that when the minimum wage increase is small (say 5% to 10%), there is no statistically significant impact on overall employment, although some subgroups of workers may be more adversely affected than others, such as part-time workers, low-skill workers, and the youth. The first national minimum wage system is reported to have first emerged in New Zealand in 1894 in the

Dr. Geoffrey Ducanes and Florinda Grace Asis

Dennis Gorecho

Healing from what was normalized

By Mariz Wee

IT has been 39 years since I was born, and I am still healing from my childhood.

I am a millennial, born in 1987. I grew up in a family compound that was rarely quiet. Doors slammed. Voices rose. Arguments spilled from one house to another. We had a complete family. In reality, we never truly felt like one.

My mother was the emotional and financial backbone of our household. She endured quietly, carrying responsibilities that were never meant to be hers. When my father stopped working, she overcompensated providing for us through sheer persistence, supplemented by padala and bigay from relatives abroad. I remember my Lola once saying, “Natututo nang humingi ang mama mo sa mga kamag-anak abroad.” There were days I understood why we kept going to my Lola’s house, because she needed money. Survival became a family effort, just not an equal one.

My brother and I learned early how to adjust. In high school, I frequently passed promissory notes and kept changing bus services, sometimes because we could no longer afford them, other times because I had to rely on relatives for transport. There was no room for questions, only endurance. Weekly family conflicts were part of the background noise of our lives, so constant that they felt normal.

We stayed in that environment for more than two decades. Even now, I still ask myself how we survived it. In many Filipino households like ours, conflict is often dismissed as “family matters,” something to be tolerated rather than confronted. Silence becomes a form of discipline. Magtiis is mistaken for strength.

College offered my first sense of freedom. I could commute on my own, decide for myself, and imagine a future outside the compound. But toxic patterns do not dissolve simply because distance appears. I blame my environment for what I experienced. I became pregnant while still a student. My father wanted me to marry immediately, but I chose to finish my studies, for myself and for my son.

From grade school, I had dreamed of being on television. I thought I would never fulfill it after becoming a mother so early. But through perseverance and a clear goal, years later, I became a reporter. I was not famous, but I was fulfilled. It was proof that I could build something beyond where I came from. I graduated on time, worked, lost a job, and worked again, learning resilience the hard way. At 26, life forced another reckoning. My mother fell gravely ill. We had no savings, no safety net. I remember sitting on a plastic chair in a government office, clutching a folder of medical documents while waiting to be called. Around me were others

Gorecho.

. . continued from A14

Eagle Watch. . . continued from A10 in 2016, US$6,870,827 in 2017; $6,139,512 in 2018; $6,539,246  in 2019; $6,353,522 in 2020; $6,545,002 in 2021; $6,715,880 in 2022; $6,852,362 in 2023; and $6,941,085 in 2024.

For a long time, resentment lived in me, toward the family and the culture that normalized silence, endurance, and blame. Motherhood forced me to confront what I had long accepted as ordinary. Chaos is not discipline. Endurance is not love. Survival should never be mistaken for family.

doing the same, quiet, tired, hopeful. For five years, I did this alone. I balanced work, motherhood, and endless lines at agencies like DSWD and PCSO, seeking help wherever it was offered.

During my mother’s sickness, we were blamed. Accused of neglect. Accused of abandonment. It was my mother’s side of the family that showed understanding and support. My father remained largely absent. Responsibility, I learned, is not proven by blood, but by presence. Hospital bills, dialysis payments, maintenance medicines, we paid for all of it. My brother and I split the expenses every time. We did not ask from anyone. We did not ask our father to share. Yet we still received threatening words from his family. I believe this came from him, his damaging narratives about us became the reason many saw us as ungrateful children. Years later, I met my husband. I believed time and distance might soften old wounds. But gossip followed us. Accusations persisted, that we had failed to support my father, that we had abandoned him. The judgment came not only from family, but from a community that had witnessed our struggles without ever intervening.

For a long time, resentment lived in me, toward the family and the culture that normalized silence, endurance, and blame. Motherhood forced me to confront what I had long accepted as ordinary. Chaos is not discipline. Endurance is not love. Survival should never be mistaken for family.

I am still healing, not because I am weak, but because what was broken lasted for generations. I write this in the hope that my children will never have to heal from the same wounds. Let this be the last generation that calls survival “normal.” And if healing is slow, I am learning that choosing to stop it is already a beginning.

Mariz Wee is a former broadcast journalist and now a blogger based in Qatar.

Remittances are a major source of foreign currency for the Philippines. This inflow of foreign currency helps support the value of the Philippine peso, which is important for real estate investors who are looking to purchase property in the country.

Atty. Dennis R. Gorecho heads the Seafarers’ Division of the Sapalo Velez Bundang Bulilan Law Offices. For comments, e-mail info@sapalovelez. com, or call 0908-8665786.

The hydra in the ballot

Imotivation was to prevent strikes and lockouts by providing an arbitration mechanism through which conflicts between workers and employers could be mediated. Other countries later followed, Australia, at least in its colonies (starting in 1896), the United Kingdom (1909), and the US (1912).

There are various arguments for and against a minimum wage. Among the arguments for supporting a minimum wage include correcting power

imbalance in cases where employers have wage-setting power because of limited labor mobility and/or dominant employers, preventing the worst forms of exploitation in low-wage sectors, and even poverty reduction.

Among the arguments against a minimum wage include reduced employment (either through job loss or reduced working hours), pass on effect on inflation, inefficiency introduced by the wage distortion, and greater inequality if it impacts the less-skilled.

In the Philippines, minimum wages could be changed either through

By Pablo S. Trillana III

N the Philippines, you can sometimes predict an election by walking past a barangay waiting shed.

One surname blooms like bougainvillea—on tarpaulins, on streamers, on the basketball court paint, on the ribbon-cuttings that never end. Then, beside it, another poster: a party-list that claims to speak for drivers, fisherfolk, teachers, the poor. Same smile. Same handlers. Same ecosystem—only the costume has changed.

That is the hydra of our politics: dynasties as one head, party-list capture as another. Cut one head— term limits, scandal, defeat—and the other keeps biting. The monster survives not because it is clever, but because our laws have been left conveniently unfinished.

The 1987 Constitution did something quietly radical: it promised equal access to public service and ordered the State to prohibit political dynasties—but with a fateful clause: “as may be defined by law.” In other words, the Constitution gave Congress the pen. For decades, Congress has kept the ink bottle capped.

And so the Republic learned a bitter trick: we created a mechanism meant to broaden representation, but we refused to create the mechanism meant to broaden opportunity. We built a bridge for new voices, then allowed the old voices to buy the toll booth.

Even the sober jurists have noticed. Retired Chief Justice Artemio V. Panganiban has long warned— often with the calm impatience of a man reading a contract where the parties pretend not to see the fine print—that the party-list system drifted from its original purpose into an “experimental” creature: a structure vulnerable to capture when Congress refuses to draw clear lines. This is not a moral complaint. It is institutional physics.

Dynasties are not merely families

in public service. Families can carry honor. Families can carry sacrifice. The problem is monopoly—when a surname becomes an infrastructure, when governance is treated as inheritance, when elections become the periodic renewal of a private franchise. And the party-list, when captured, becomes the hydra’s favorite escape route: a backdoor for influence when front doors are crowded, a spare key when term limits lock one office but leave 10 others open.

The honest question: what does the Republic owe its citizens?

A FUNCTIONING republic owes its citizens at least this: a fair chance to compete. Not equal outcomes—life is not a classroom where everyone receives the same grade—but equal entry into the arena of public service.

When dynasties dominate, the damage is not only economic; it is spiritual. The young stop imagining themselves as public servants. They imagine themselves as spectators. The poor stop believing the state belongs to them. They learn to approach power like weather—something you endure, not something you shape. That is why reform cannot be decorative. It must be structural. The hydra does not fear speeches. It fears rules.

A new way for power to serve the good IF we want the Rebirth of the Repub -

lic to be more than a slogan, Congress must finally complete what the Constitution began. The solution is not complicated. It is simply unpopular among those who benefit from the current arrangement.

Here is the practical legislative platform—clean, defensible, and hard to wiggle around:

1) Pass an Anti-Political Dynasty Law with a real scope: up to the 4th degree of consanguinity and affinity. Why fourth degree? Because Philippine political kinship does not stop at spouses and children. Power commonly travels through siblings, in-laws, cousins, nephews, nieces, and their corresponding alliances.

A narrow prohibition is a polite bow to reform while leaving the machine intact. A fourth-degree rule is not cruelty; it is breathing space—a temporary widening of the road so new entrants can appear without being immediately suffocated by the clan ecosystem. This is not “anti-family.” It is procompetition.

2) Repair the party-list system so it cannot be used as dynastic overflow or private business leverage. Amend the party-list law to require: n verifiable sectoral roots and track record (not paper sectors and press releases), n clear disqualifications for dynastic links within the prohibited degree, and n conflict-of-interest rules that bar nominees with direct or indirect government contracting interests from using representation as a shield for profit.

Representation is not a brand extension. It is a trust.

3) Create a public “Representation Registry” under the Commission on Elections.

If we can require financial dis-

closures, we can require kinship and interest disclosures in a searchable format: family ties to incumbents, business interests, government contracts, organizational history. Sunlight does not solve everything, but darkness guarantees rot. 4) Give enforcement real teeth. Fast-track disqualification procedures. Penalties for deliberate misrepresentation. Repeat offenders should not be politely asked to return next season with a new acronym.

What this reform does—and what it does not do THIS platform does not guarantee saints. It guarantees something more realistic: rotation. It prevents the worst of our system from becoming permanent. It interrupts the dynastic habit of treating public office as a family calendar: this year the father, next year the son, then the wife, then the cousin—always the same circle, always the same gatekeepers. A republic cannot survive if its leadership is drawn from a shrinking pool. That is not tradition. That is feudalism in barong and blazer.

A closing image for the voter— and for Congress PICTURE the Republic as a river. Dynasties raise dams; party-list capture builds side-gates. The water still shines, but the current weakens. Rebirth begins when we reopen the flow-by law, by sunlight, by enforceable limits. Congress has “studied” long enough. The Constitution has spoken; what remains is the enabling statute - including a real anti-dynasty rule and a repaired party-list. For the voter, one test at every poster: Does this name represent my sector—or only itself? The hydra thrives on confusion; the Republic lives by clarity.

Trump rebuked over Canada tariffs as midterm anxieties grow

By Alicia Diaz & Erik Wasson

DONALD TRUMP’S tariff policies suffered their strongest political blow yet with the Republican-led US House passing legislation aimed at ending the president’s levies on Canadian imports.

Wednesday’s vote represents an increase in political pressure to change course on Trump’s signature economic policy just months before the midterm elections, including by forcing swing-district Republicans affected by the tariffs to weigh when or if to cross the president by voting against his agenda.

The vote also signals a growing anxiety over the White House’s economic agenda before elections that are expected to focus heavily on affordability. Democrats were quick to attack the Republicans who voted to protect the tariffs, blaming them for shielding policies that increase the cost of living for their voters.

While Trump is almost certain to veto any bill calling for a repeal of his tariff agenda, making it unlikely the measure will ever become law, defections from six Republicans alongside opposition from nearly all Democrats underscore his increasingly tenuous hold on the narrow House majority.

Republicans are fighting to maintain control of both the House and Senate this November, a job made more difficult by the president’s

legislation by Congress or via the mechanism specified in the Wage Rationalization Act (RA 6727). Under the Act, the National Wages and Productivity Commission (NWPC) formulates policies and guidelines that the Regional Tripartite Wage and Productivity Boards (RTWPB) use in minimum wage determination in the regions. Under RA 6727, the RTWPB is composed of a mix of government, labor, and employer representatives. There is no standard formula used to determine the minimum wage in the Philippines and this introduces an unpredictability that is of special concern to employers during

slipping approval in polls on the economy and immigration.

Trump has a personal interest in holding onto Republican majorities in Congress—it makes it easier for him to pass legislation he favors and would shield his administration from congressional investigations.

Democrats have outperformed expectations in a series of elections over the last several months, including the Miami mayoral race and the New Jersey and Virginia governor’s races. In recent weeks, a solid Republican Texas state Senate seat flipped blue in a 31-point swing toward Democrats.

The measure’s passage also comes as Trump privately weighs quitting the US-Mexico-Canada trade pact he signed during his first term, a decision that would worsen trade tensions in North America. About 80% of goods imported from Canada meet USMCA criteria and are exempted from tariffs.

Primary election threat

BEFORE the elections in November though will come a series of House and Senate primary races, in which

episodes of high inflation, economic shocks, or political pressure.

In many cases, the opposition is not to the idea of the minimum wage itself but to this unpredictability, especially concerning legislated increases.

Indonesia has sought to address this problem of unpredictability by introducing a mathematical formula for determining regional minimum wages. The elements of the formula have changed over time, but its most recent version included inflation, provincial economic growth, and labor contribution to economic growth in the computation of the annual

voters decide which candidates will represent their parties. Trump, whose primary endorsements weigh heavily, made clear even as the votes were being cast on Wednesday evening that there would be political consequences for any Republicans who crossed him on the issue.

“Any Republican, in the House or the Senate, that votes against TARIFFS will seriously suffer the consequences come Election time, and that includes Primaries!” Trump wrote in a social media post. “TARIFFS have given us Economic and National Security, and no Republican should be responsible for destroying this privilege.”

Republicans Thomas Massie of Kentucky, Don Bacon of Nebraska, Kevin Kiley of California, Jeff Hurd of Colorado, Dan Newhouse of Washington State and Brian Fitzpatrick of Pennsylvania broke with their party to join Democrats in passing the bill.

Newhouse told reporters later that “the trading relationships between Canada and the state of Washington is pretty intertwined with a high value of exports and imports. There are a lot of Canadian employers in my district that employ a lot of people.”

That Wednesday’s vote happened at all represented a blow to House Speaker Mike Johnson, a top Trump ally who had spearheaded a block on bringing tariff-related bills to the

adjustment.

Malaysia also employs a formula but uses it more as a guide to initiate discussions in its National Wages Consultative Council, which deliberates minimum wage adjustments in the country. Its formula includes a measure of changes in labor productivity, inflation, and the difference between the regional unemployment rate and its estimate of the natural unemployment rate.

Singapore does not have a minimum wage. The other ASEAN countries do not follow any similar formula in determining minimum wages. Could an acceptable minimum

floor for months. That ended Tuesday when three Republicans joined Democrats in rejecting another extension of the blockade.

Afterward, Johnson said he had met with Trump earlier Wednesday and that he understood that he could veto the measure if it were ever approved by the Senate. “It doesn’t really affect the trajectory of what he’s doing,” Johnson added. “There’s proof that his trade policy is working.”

The speaker had argued the chamber should keep the ban in place until the Supreme Court ruled on whether Trump’s global tariffs, which he put in place citing an emergency, are legal. That opinion could be released as soon as Feb. 20.

Chuck Schumer, the Senate Democratic leader, said “Both chambers have now rejected his phony ‘emergency’ and his fabricated trade war. The Supreme Court should take notice.”

Trump has long held that tariffs are not just a tool in and of themselves, they also strengthen his hand in negotiations with other nations when making trade deals.

“Canada has taken advantage of the United States on Trade for many years. They are among the worst in the World to deal with, especially as it relates to our Northern Border. TARIFFS make a WIN for us, EASY. Republicans must keep it that way!” Trump said. With assistance from John Harney/Bloomberg

wage adjustment formula for the Philippines be developed? If yes, how have regional minimum wages actually evolved in the Philippines over time relative to what such a formula would say? Would such a formula make the issue of minimum wage adjustment less contentious among employers, workers, and the government? These are important issues worth exploring.

Friday, February 13, 2026

FIRE HORSE YEAR BRINGS CAUTIOUS OUTLOOK FOR PHL

By Ma. Stella F. Arnaldo Special to the BusinessMirror

THE weaker-than-expect-

ed sluggishness in the local economic output in the fourth quarter of 2025 is expected to continue into 2026, the Year of the Fire Horse, which gallops in on February 17.

In a news briefing this week, popular Feng Shui (geomancy) expert Master Joseph Chau said, “The economic situation will be in a flat line. It will have to wait for recovery in 2028.” The fourth quarter of 2025 sputtered to a 3-percent growth in terms of gross domestic product (GDP), significantly below the 5.5-percent target of government economists. But they believe a rebound is in the offing, and predicted the GDP expanding by 5-6 percent this year.

Notably, 2028 is a presidential election year, when candidates are expected to spend huge amounts on advertising, media, and grassroots vote buying. In the past presidential elections, GDP grew by 6 percent (2010), 6.8 percent (2016), and 7.6 percent (2022).

Unfortunately, President Ferdinand R. Marcos Jr., a Rooster (1957), will find his luck weak this year: “As a result, work progress may be filled with complications.” Hopefully, he will be ably assisted by Finance Secretarydesignate Frederick D. Go, who is a Dog (1970), and has “Two luck stars [that] will help dis-

solve negative energy and transform bad luck into good fortune. Money luck is favorable.”

Bangko Sentral ng Pilipinas Gov. Eli Remolona, a Dragon (1952), may also help steady the economy as he too has two lucky stars. “Progress at work will be steady and even if obstacles arise, they can be resolved with relative ease,” said Chau about Dragons. “Money luck is abundant.”

Favorable, unfavorable businesses

OVERALL , business people are advised to be mentally strong and to seriously assess each investment opportunity so as not to fall for scams.

Prosperous industries this year are those in computers, electronic products, solar products, technology, petroleum, the Internet market (e-commerce), entertainment, construction, and real estate.

Chau warned of difficulties in the tourism, hotels, trading, logistics and transportation industries. These will “face many competitions and challenges; be flexible in handling business” he said.

His general advice for all:

“Keep your cool.” Don’t give in to the fiery nature of the year. Be more understanding of others.

Chau noted that the banking business “should be careful in handling their investments to avoid rising bad debts or falling

See “Fire horse,” A2

BusinessMirror

DOF sees BOC revenue finally hitting ₧1T this year

By Reine Juvierre S. Alberto @reine_alberto

THEDepartment of Finance (DOF) is pushing to hit a long-elusive P1trillion customs revenue target this year, but such attainment will hinge on stable economic conditions.

Speaking at the Bureau of Customs’ (BOC) 124th founding anniversary, Finance Secretary Frederick D. Go said the government’s second-largest revenue source will attain the lowered P1.003-trillion target this year.

“I am very confident that this will be the year that we will hit the P1-trillion target,” the Finance chief declared among BOC employees.

The agency has long aimed to reach the P1-trillion mark in revenue collections, Go said. “We have not been able to do it so far, and the one trillion target has been elusive.”

“I hope that we have put in all the reforms needed that have long been espoused, and I have confidence in the new leadership of the Bureau of Customs,” Go added. Should the BOC fail to hit its

goal, Go said the Department of Finance will “try to make it up” through other revenue sources, either tax revenue sources or nontax revenues.

Attainable but...

ON the sidelines of the event,

Customs Commissioner Ariel F. Nepomuceno told reporters that achieving the P1-trillion target is achievable if the government’s economic assumptions will also be attained and will not be “drastically changed.”

“It’s challenging but reasonable,” Nepomuceno said. “And that’s a good mission—that’s the least we can do to help the economy.”

The Philippine economy grew by 4.4 percent in 2025—the slowest since 2011, and in turn, resulted in the downward revisions

of the government’s macroeconomic parameters assumptions and fiscal program.

Nepomuceno said the BOC has tightened controls over assessment, payments, and enforcement, while continuing its shift toward full digitalization, which is expected to be completed within about a year.

In the meantime, Nepomuceno said the BOC is focusing on stricter supervision of personnel to ensure compliance and prevent misconduct.

The BOC has always been at the top of the list of most-complained government agencies in previous years, but has now ranked at number 10, based on data from the Anti-Red Tape Authority.

“We have to have our integrity intact and be accountable,” Nepomuceno told BOC employees at the event.

Revenue drivers MEANWHILE , Nepomuceno identified agricultural and petroleum products as the main drivers of customs revenues, while also noting that stronger inter-agency coordination has improved enforcement, particularly against agricultural smuggling.

Other government agencies are now working more closely with the BOC under a “whole-of-

government” approach, which allows authorities to pursue not only low-level offenders but also smuggling masterminds, protectors and financiers, Nepomuceno added.

On currency movements, Nepomuceno said the weakness of the peso against the US dollar provides a short-term boost to collections by increasing the peso value of imports.

However, the peso depreciation may also weaken trade volumes in the long run as it could dampen trading activities, Nepomuceno noted.

“There’s a sweet spot there, so we cannot be happy if currency fluctuations occur towards the devaluation of the peso,” he added. “If the importation signal is bad, then the volume will go down, and so will the collection.”

Non-traditional revenue sources, such as auction sales and penalties, will also boost collections, but are treated only as supplemental income and are not factored into core revenue projections, Nepomuceno said. In 2025, the BOC collected P934.4 billion in revenues, below its revenue target of P958.713 billion, but still higher by 1.9 percent from the P916.674 billion collected a year earlier.

Editor: Jennifer A. Ng

B1

February 13, 2026

NGCP vows to complete 6 big-ticket projects this year

By Lenie Lectura @llectura

THE National Grid Corporation of the Philippines (NGCP) has committed to complete this year six transmission projects worth at least P18.5 billion.

The grid operator said Thursday it is set to energize major transmission projects following the completion of several critical project components, including facility upgrades, expansions, and improvements for grid stability and reliability.

These are the P1.9-billion AmlanDumaguete 138-kiloVolt (kV) transmission, P2.4-billion TuguegaraoLal-lo (Magapit) 230-kv transmission, P8.1-billion Tuy 500/230kV Substation Stage 1 (Tuy-Dasmariñas 500-kV transmission line component), P4.2-billion Nabas-CaticlanBoracay 138-kV transmission line, P757.98 million Tacurong-Kalamansig 69-kV transmission line, and the

P1.02-billion Visayas Substation Reliability stage 2.

The company has also earmarked P123.84 million for the relocation of steel poles along the Hermosa-Duhat 230kV transmission line.

These will address economic drivers, such as load growth, system reliability and security. power quality and technology, entry of new generating plants (both renewable and non-renewable), as well as to complement major projects such as power grid backbones and island interconnections, NGCP said.

NGCP reiterated its appeal for support from the Department of Energy and other related government

agencies, and the local government units (LGUs) for the swift approval and release of necessary permits for the implementation of critical transmission projects.

“We continue to seek the support of government agencies and LGUs by ensuring the expedited release of permits related to our projects. Their assistance is vital to ensuring unhampered project implementation,” NGCP Spokesperson Cynthia Alabanza said during a press briefing.

In 2025, NGCP completed the upgrading and expansion of 14 substations to enhance grid reliability and stability. The Castillejos Substation was installed with 1,000-MVA (megavolt ampere) transformer capacity, the Calaca and Concepcion Substations were each installed with new 300-MVA transformers, the Corella, Toril, Pitogo, Maramag, Dingle, Calbayog, and Paranas Substations with 100-MVA transformers, the Davao Substation with a 150-MVA transformer, and the San Jose and Mabinay Substations with a 50-MVA transformer.

Pacific Online pauses online gaming push

PACIFIC Online Systems

Corp., a developer and manager of online computer systems, terminals and software for the Philippine lottery industry, may abandon its investment in online gambling.

The company said the move comes as the national government has a “firm policy” against the licensing of online betting platforms.

As a result, Pacific Online may abandon its plan to acquire 37.5 percent of HHR Philippines Inc. (HHRPI), the owner and operator of Buenas PH, a Philippine Amusement and Gaming Corp.-licensed e-casino operator.

“Please be advised that the company and HHRPI have mutually agreed to revisit their investment arrangement and unwind the same, with a private third-party investor agreeing to assume the rights and obligations of the company from its HHRPI investment,” Pacific Online said.

“With this unwinding, the company will cease to be a shareholder of record of HHRPI as soon as certain regulatory compliances are complied with.”

Pacific Online said as HHRPI is still in early operation stage, the unwinding of its investment in the company is not expected to have any significant impact on the listed firm’s financials.

In January last year, the company subscribed to 81,000 common shares translating to 37.5 percent of the total issued and outstanding capital stock of HHRPI for P150 million, which it said then will be paid in three tranches.

Pacific Online is also abandoning its plans for the procurement from Philippine Charity Sweepstakes Office (PCSO) of its web-based ap -

PMI: Revenues from smoke-free

plication platform which was intended to be used for its electronic lotto project.

“Subsequent to the issuance of the notice of award, as an offshoot of the controversies that arose involving other online gaming variants like e-Sabong and the Philippine Offshore Gaming Operations, the national government eventually adopted a firm policy against the continuation of the licensing of all forms of online betting platforms,” the company said.

“With this reversal in policy, the implementation of PCSO’s E-Lotto was placed on a prolonged suspended animation.”

Because of such development, the company’s board—recognizing that the national government’s policy will no longer be retracted— ordered to unwind the company’s involvement in e-lotto and that the company refocus its efforts and resources on other available and more feasible opportunities. VG Cabuag

items rising

PMacroAsia to use vegetables from Cavite agri project

A 100-MVA expansion at NGCP’s Iloilo Substation, a component of the Panay-Guimaras Interconnection project, was also completed in April 2025.

Voltage improvement initiatives were also completed by NGCP in its Tigaon, Malvar, Baybay Load-end Station, Sta. Barbara, and Zamboanga Substations.

These accomplishments are a testament to NGCP’s commitment to its mandate of delivering safe, secure, and reliable power transmission services to our customers.

“We take our obligations under our franchise and concession agreement seriously. Despite continuing challenges in right-of-way and permitting, we remain committed to the work ahead, and are optimistic in completing these projects within the year,” added Alabanza.

The NGCP is in charge of operating, maintaining, and developing the country’s state-owned power grid, an interconnected system that transmits gigawatts of power at thousands of volts from where it is made to where it is needed.

MBy VG Cabuag @villygc

ACROASIA Corp. on Thursday said it has commenced an agricultural production project as part of its strategy to improve cost efficiency and protect margins across its inflight kitchens and food commissary operations through supply chain vertical integration.

The project will be implemented in MacroAsia’s own property in Maragondon, Cavite, where its Maragondon Water Treatment Plant is also located.

The project was formalized on Thursday through the signing of a service agreement with CoGrow

Agricultural Services. The initiative is designed to directly supply a portion of the leafy vegetable requirements of MacroAsia’s three kitchens, supporting the group’s airline catering and commissary operations. By internalizing selected agricultural inputs, the company said it aims to reduce procurement costs, mitigate exposure to price volatility, and lower logistics-related expenses, while enhancing reliability, quality control, and predictability of supply. These efficiencies are expected to contribute to improved operational resilience and margin stability within the MacroAsia food group.

Continued on B2

By Ada Pelonia @adapelonia

HILIP Morris International (PMI) said its smoke-free products accounted for about 42 percent of its global net revenues in 2025, an “unprecedented” rise over a decade amid its push toward cigarette alternatives.

Vassilis Gkatzelis, president of the East and Southeast Asia, Pacific and Global Travel Retail Region at PMI, said the share of smoke-free products had grown to 41.5 percent, compared to levels seen 10 years ago, when it mainly sold cigarettes.

“From a consumer goods company, this is unprecedented, because changing the way you operate and changing such a traditional industry with a habit that has been formed for decades is not easy, since this requires behavioral change among millions,” Gkatzelis told reporters on Wednesday.

“That’s why we have been sup -

porting the adult smokers across the journey from learning about the better alternatives, having access, and ultimately converting, because the impact comes from completely switching out of cigarettes.”

Gkatzelis said the firm’s goal is for smoke-free alternatives to account for around two-thirds of its total net revenues by 2030. As the tobacco company shifts its resources and capabilities towards smoke-free products, PMI wants the Philippines to be among its partners in driving this transition.

Currently, the company has invested over $2 billion in the Philippines through manufacturing expansion, development of smoke-free products, and digital capabilities.

The tobacco company noted that the country has continued to make progress in adopting such alternatives, since the introduction of IQOS in 2020 and ZYN nicotine pouches in 2023.

Despite this, Gkatzelis stressed

the need for “science-based consumer education” to dismantle misconceptions about nicotine as smoke-free alternatives become more widely available.

PMI said its smoke-free products are developed using advanced technology to remove combustion, which is cited as the leading cause of smoking-related diseases.

“Beyond our significant investments in local manufacturing, we are also constantly identifying ways to optimize efficiency and strengthen our regional supply,” Gkatzelis said.

“As our multi-category portfolio expands, the Philippines is uniquely positioned to host future production capabilities where it strategically makes sense.”

PMFTC Inc., the Philippine affiliate of PMI, is expanding its smoke-free manufacturing capabilities in Tanauan, Batangas, with an additional investment of around $71 million through 2027 to support growing domestic and export demand.

PHOTO FROM WWW.MACROASIACORP.COM

Banking&Finance

Depositors of 2 closed banks ‘promptly’ paid

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY—The

Philippine Deposit Insurance Corp. (PDIC) announced it was able to pay the depositors of two banks that monetary authorities ordered closed last year.

A post on the PDIC’s website dated February 11 read the state insurer “promptly paid” P106.9 million in deposit insurance claims, “delivering timely relief to depositors of two banks ordered closed by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) during the year.”

The government-owned and controlled corporation (GOCC) also reported that the payouts covered 3,736 claims across 3,111 deposit accounts from the closed Emerald Rural Bank Inc. (ERBI) in Bulacan and Oriental Tamaraw Rural Bank of Naujan Inc. in Oriental Mindoro.

The PDIC took over the closed rural banks on January 24, 2025 and May 13, 2025, respectively.

According to the PDIC, the ERBI is a single-unit rural bank had, as of September 30, 2024, total deposit

liabilities of P26.6 million consisting of 359 deposit accounts, 98.9 percent of which or P26.3 million are insured deposits. It said payments were made both to depositors who formally filed claims and to those eligible for outright payment under the PDIC’s waiver policy for deposit insurance claims filing.

The bulk of payments representing 3,433 claims, or 92 percent of total deposit accounts, were settled through outright payment, according to the PDIC. These claims represented P44.4 million or 42 percent of the total amount paid, and were completed within 10 to 13 working days from the PDIC’s takeover of the two banks, “a day faster than the Corporation’s target turnaround time of 14 working days,” it added.

The GOCC added it also exceeded performance targets for depositors required to file claims. A total of 303 claims amounting to P62.5 million, representing 58 percent of total claims paid for the year, were settled within 15 to 20 working days upon receipt of complete claims, faster than the prescribed turnaround time of 21 working days.

Crypto’s $2T crash hasn’t dimmed outlook in HK

RYPTO markets are in disarray.

CBitcoin was hovering at about $67,000 as of 7:00 a.m. in London on Thursday, down about 47 percent from an October peak. So-called altcoins, the vast swathes of smaller, highly speculative tokens at the market’s fringes, have fared even worse. Liquidity is perilously patchy. Listed firms that had hoarded tokens are under pressure. And even South Koreans—a longstanding bastion of support for crypto’s riskiest trades— are turning their attention elsewhere.

Yet at the Consensus conference in Hong Kong, the mood was upbeat. Executives at some of the biggest digitalassets exchanges reverted to a triedand-tested line.

“I do urge people not to just look at one point of time, because in crypto we go through cycles,” said Richard Teng, co-chief executive officer of Binance Holdings Ltd., the world’s largest digitalassets exchange, in an interview with Bloomberg TV.

Bybit Chief Executive Officer Ben Zhou put it more bluntly: “Now is a good time to buy Bitcoin,” he said during a question-and-answer session at the conference.

The crypto market began unraveling in October, days after Bitcoin hit a record of over $126,000. More than $19 billion in bullish bets were snuffed out, triggering a sharp retreat. Prices have been on shaky ground ever since. Then, in early February, the pressure intensified, dragging Bitcoin to about $60,000 and wiping out all its gains since the re-election of pro-crypto US President Donald Trump. October liquidations

THE overall market value of all cryptocurrencies has fallen by about $2 trillion over that period, according to CoinGecko data. Such has been the fallout that the nature of Bitcoin as an asset has repeatedly been called into question. In the past it had at times moved in line with stocks and other risk assets. Some have framed it as a kind of “digital gold”—a refuge in times of turbulence. It has adhered to neither pattern since October.

‘Foundational innovation at risk with low interest rates’

By Andrea E. San Juan

MONETARY authorities are being cautioned by an economist not to take up an aggressive policy stance as he believes having low interest rates may stifle “foundational” innovation.

“Very low interest rates tend to discourage foundational innovations vs operational innovations,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. told the BusinessMirror.

Given the historical context of interest rates, Neri said “the time to pause is going to happen sometime soon” as he pointed out that with a 4.5 percent interest rate, this is still lower than “most of our history.”

He pointed out that the average policy rate from 2008 to 2021 was the exception, as the country’s benchmark rate settled at 3.74 percent within this time frame.

“That means the Philippines is not exactly in a high interest rate environment. We’re in a normal interest rate environment and therefore we

should not pressure the BSP to cut too aggressively,” added Neri.

He explained that an economy needs to have “positive healthy interest rates.”

Citing an example, Neri said Dado Banatao’s computer chip innovation in the 1980s is considered a “foundational innovation” that investors supported—a time when interest rates were relatively high.

“In fact, [the rates were] double digits for the United States. And yet, he did very well,” he said.

In contrast, Neri said mutlinational ride-hailing firm Uber Technologies, Inc. worked in a 2008-2021 environment. As such, he said: “They were not efficient. They were losing money for several years.”

“So the point I want to make is, in

Built on love: The quiet power behind strong associations

VThe October 10 liquidations are partly to blame for Bitcoin decoupling from stocks, said Joe Lubin, founder and chief executive officer of Consensys, a software developer. At the time, crypto project Ethena’s yield-bearing stablecoin briefly lost its dollar-peg on Binance, falling to 65 cents on the platform.

“That essentially caused a lot of market damage” that triggered forced liquidations, Lubin said in a Bloomberg TV interview. “With the massive plunge a couple of weeks ago, we finally I think have flushed that out of the system.” Lubin is also a co-founder of Ethereum, the blockchain that underpins most decentralized activity in the crypto market. Its native token Ether is currently trading at about $2,000, down roughly 60 percent from an Aug. 2025 record.

Legislation under Trump UNDER Trump, the US has introduced legislation that aims to foster the growth of digital assets, while erecting clear guardrails. The first year of Trump’s second term as president also saw a flurry of public listings by crypto firms, including Circle Internet Group Inc. and Gemini Space Station Inc.

Overseas companies, too, are looking to the US for public offerings. Hong Kong’s Animoca Brands said last year that it plans to go public on the Nasdaq stock exchange through a reverse merger with Currenc Group Inc. Yat Siu, Animoca’s executive chairman, said investors “aren’t too bothered” by crypto volatility, because the company remains profitable. “If you’re a sophisticated investor, you understand it’s volatile and this is still an early stage asset, so it’s going to go up and down,” he said in an interview. Even as Hong Kong’s crypto elite shrug off price fluctuations, some foresee more pressure ahead. It appears “inevitable to us that there will be continued downside,” said Tokenize Capital Managing Partner Hayden Hughes. He expects to see Bitcoin trading at $35,000 by September “and potentially lower by year-end.” Bloomberg

ALENTINE’S Day in the Philippines is a big thing. Restaurants are fully booked weeks ahead, flowers line the streets, and expressions of love, both grand and simple, take center stage. But beyond romance, Valentine’s Day reminds us of something deeper: love is really about care, commitment, and connection. These same values quietly sustain associations and the leaders and professionals who serve them. Associations, at their core, are love stories of a different kind. They are formed out of passion for a cause, a profession, or an industry. They endure not because of profit, but because people choose to belong. And they grow stronger when leaders and professional staff consistently show care for their members, not only through programs, but through relationships.

In the Philippine context, this kind of “association love” is often visible during challenging times. During the pandemic, many local professional and industry associations shifted quickly to online platforms, not because it was convenient, but because members needed support, information, and reassurance. Some associations waived dues, extended memberships, or created peer-support sessions simply to stay connected. These were not mandated actions; they were acts of care.

Membership care, in many ways, is an expression of love. It means understanding that Filipino association members are volunteers first, juggling work, family obligations, and community commitments. It means designing initiatives that respect their time and respond to their realities. When leaders listen attentively to members’ voices and act on their concerns, trust deepens and loyalty follows.

Engagement, too, requires a bit of romance. Associations must continuously “court” their members, reminding them why they joined and why they stay. In many Philippine associations, this is reflected in strong traditions of recognition such as honoring long-serving officers, celebrating collective achievements, and highlighting member

that kind of an environment where interest rates are too low, the Dado Banataos of this world do not really thrive,” the BPI Lead economist said.

Called as the “Bill Gates of the Philippines,” Diosdado “Dado” P. Banatao “created the PC chipset and the Windows Graphics accelerator chip, which can be found in every personal computer today.” (See https://www.xu.edu.ph/xavier-news/140-2018-2019/3943profile-engr-diosdado-dadobanatao-jr-2019-doctor-of-science-honoris-causa) He passed away last December at the age of 79.

Neri pointed out that markets tend to support high growth and become “very patient” with their lending if interest rates are too low.

“Whereas, if it’s high, our healthy level is actually encouraging more innovation,” he added.

Neri said that “the level of interest rate can determine the kind of innovations an economy encourages.”

The Monetary Board, the policymaking body of the Bangko Sentral ng Pilipinas (BSP), will hold the next monetary policy meeting on February 19, 2026.

Earlier this week, Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera told the BusinessMirror that with inflation still within target,

briefs

➔ Thailand to seize assets

campaign can replicate.

Communication is where love is sustained. Regular updates, clear messaging, and honest conversations help members feel part of the association’s journey. Filipino associations that communicate with warmth and purpose, whether through town halls, newsletters, or simple check-in messages, build communities, not just mailing lists.

For association leaders and professional staff, this work is rarely glamorous. It involves managing limited resources, navigating governance issues, and aligning diverse stakeholder interests. Yet many continue to serve, year after year, because they believe in the mission and in the people behind it. That level of dedication cannot be forced; it is driven by genuine commitment.

This Valentine’s Day, perhaps it is worth “romanticizing” association work, not to idealize it, but to remember why it matters. Associations in the Philippines play a vital role in shaping professions, strengthening industries, and contributing to national development. They do this through relationships built on trust, shared purpose, and everyday acts of care.

In a world that is increasingly transactional, associations remind us that lasting institutions are built on human connection. And like any enduring love story, the strongest ones are sustained, not by grand gestures, but by consistent care, commitment, and connection.

Happy Valentine’s Day to all who choose to lead, serve, and love through associations!

Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.”

pcaae.org.

growth slowing but not collapsing, and the Philippine peso remaining sensitive to external developments, the MB has reason to assess first how earlier rate cuts are feeding through credit, spending, and investment. 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.

(See: https://businessmirror.com. ph/2026/02/10/bsp-may-brakeon-rate-cuts-on-feb-19/)

For his part, BSP Governor Eli M. Remolona Jr. told reporters in an interview last Wednesday that the 7-member MB is still scrutinizing various data points before making it known to the pubilc if it would really deliver another rate cut. Asked if he could reveal which data points the BSP is still looking at, Remolona said: “[There’s] still a lot [data points to look at].There are many surveys that are indicators of confidence, ‘yung mga ganun [things like that].”

The central bank governor explained to reporters that the MB prioritizes looking at inflation data rather than growth figures. The country’s headline inflation edged up to 2 percent in January, the fastest pace in 11 months.

THAILAND plans to seize $420 million in assets linked to alleged cyber scam operators as authorities intensify a crackdown on a global online fraud network. The assets, including luxury condominiums, yachts and cars, were frozen by the Anti-Money Laundering Office in December after preliminary investigations found wrongdoing. The agency has now asked the public prosecutor to seek court approval to have them declared state assets, it said in a statement late Wednesday. Assets facing confiscation include those belonging to Chen Zhi, the alleged kingpin of an international syndicate arrested and deported by Cambodia to China, and South African businessman Ben Smith, also known as Benjamin Mauerberger, the agency said. Bloomberg

➔ Germany joins PDIC network

The Philippine Deposit Insurance Corp. (PDIC) now has a dozen countries in its network of partnerships in fostering cross-border cooperation and mutual development of deposit insurance mechanisms. Germany was among the latest, which entered into the partnership two months ago, read the statement the PDIC issued last Wednesday. According to the state-run insurer, PDIC officials signed separate five-year bilateral agreements with representatives of the Association of German Banks-Deposit Protection Fund and the Compensation Scheme of German Banks. The signing ceremony was held on the sidelines of the 2025 International Association of Deposit Insurers (IADI) Annual Conference held in Lisbon, Portugal in November last year. Manuel T. Cayon

➔ Zed launches Android app

ZED Philippines Inc. announced last Wednesday the launch of its Android app, opening access to the majority of its nearly 200,000-person waitlist and marking a major step in bringing a new kind of credit card to Filipinos across the country. According to the company, users can access Zed’s full digital credit stack, including unlimited virtual cards with real-time spending controls, zero foreign transaction fees with no FX markup, peer-to-peer payments on credit, and contactless payments through Google Pay. Zed was part of the first cohort of credit card issuers to go live on Google Pay in the Philippines last November. “Android unlocks scale for us,” Danielle Cojuangco Abraham, co-founder of Zed, was quoted in a statement as saying.

➔ SBFI hits classroom landmark

THE Security Bank Foundation Inc. (SBFI) announced recently the turn-over of a new two-storey, six-classroom Technical-Livelihood Education (TLE) building to Zamboanga City High School Main—its 900th classroom built nationwide. The landmark reflects more than two decades of sustained investment in public school infrastructure across the country, read a statement the lender’s corporate social responsibility arm issued last Wednesday. The statement, however, didn’t say how much it invested or spent for the project. According to the SBFI, the building contains laboratory spaces for caregiving, dressmaking, drafting, cookery, and other skills-based TLE programs. ZCHSM serves more than 8,000 students across over 200 class sections and currently operates with 136 available classrooms.

➔ QC, BDO Foundation back small biz

THE corporate social responsibility arm of BDO Unibank Inc. announced last Tuesday it held a learning session on financial literacy and entrepreneurship in partnership with the Quezon City Small Business Cooperatives Development and Promotions Office (QC-SBCDPO). The event, according to BDO Foundation Inc., was participated by more than 200 nano-entrepreneurs: sari-sari store owners, market vendors, and other self-employed individuals. Mona Celine Marie V. Yap, City Government Department Head III of the QC-SBCDPO, emphasized that similar capacity-building activities are available to Quezon City small business owners at no cost through partnerships with various organizations. We believe that with the right knowledge in finance and entrepreneurship, business owners will be more prepared to make better decisions and plan for the future, said BDO Foundation President Mario A. Deriquito in his message of support.

stories. These moments reinforce a sense of belonging that no marketing

Octavio Peralta

A ssociation World

A sanctuary for women’s health

WOMEN go through the different stages in their lives, often with very little information except those imparted by their mothers or older sisters. Or even superstition. (“Don’t take a bath on the first day of menstruation.”)

Many women, for instance, are advised to just make tiis when experiencing painful cramping in our puson. “It’s normal. Just take Midol.” Called dysmenorrhea, menstrual cramps afflict an estimated 60 percent of women of reproductive age. For a number of women, the pain is too unbearable that we have to be absent from work.

But as I found out, while having a totally separate medical condition checked in my 30s, I was actually suffering from endometriosis. While endometrial tissue lines the uterus, it can grow in places where it shouldn’t. And this means the tissue isn’t shed as normally as it should, unlike when it’s in the uterus, during menstruation. This forms scarring and fibrous tissue called “adhesions” that become inflamed and sometimes cause the dysmenorrhea. Several treatment options are available to make this go away.

At this stage in my life, issues on menopause have become a common topic among women friends. We complain about brain fog, becoming a bit lampa when walking, and, yes, those dreaded hot flushes!

A friend threatens her husband every night to not fiddle with the aircon’s thermostat even when he’s freezing to death. Still, the bedroom temperature is not cool enough for her. So like many, she shifts the duvet on and off her body throughout the night, just to get some measure of comfort while she sleeps. Through it all, we women just power through. We balance careers, care for our families, and meet expectations, often at the expense of our own health. Because of this, check-ups get postponed, symptoms get dismissed, and wellness becomes something to “get to” when life slows down. But women’s health isn’t a side task. It shapes how we live, feel and move through every stage of life. At Eluvo Health, women are offered care that is personal, proactive, continuous, and built to fit into real life rather than interrupt it. “Women deserve care that listens and evolves with them,” says Dr. Carol Joanna Violago-Olivarez, Founder and Medical Director of Eluvo Health, the Philippines’ first hybrid women’s healthcare provider designed for today’s women.

A board-certified obstetrician-gynecologist (OBGYN) with advanced training at Harvard Medical School, Violago-Olivarez brings together medical expertise and a deeply personal approach to care— shaping Eluvo’s commitment to education, inclusivity, and lifelong wellness.

Walking into the Eluvo Health clinic at Parqal Mall feels intentionally different from a traditional medical setting. The clinic recently held an intimate conversation between the good doctor and other women to discuss our (non-)reproductive issues. The space was designed by acclaimed interior designer JJ Acuña, making it feel warm and calming. It was also thoughtfully curated, so it felt like walking into a sanctuary than a cold, medical clinic. “Here, women are welcomed not just as patients but as partners in their own care,” says Violago-Olivarez. Eluvo Health supports women through the key

moments of our lives—from reproductive health and family planning to pregnancy, postpartum recovery, and the transition to perimenopause and menopause. Rather than treating each concern as a one-time issue, Eluvo Health takes a long-term view of women’s wellbeing, helping patients better understand their bodies, plan ahead, and make informed choices with confidence.

“So much of healthcare is reactive. We wait until something becomes unbearable before we seek help. But we deserve a model that’s proactive and preventive,” adds Violago-Olivarez. “At Eluvo Health, we focus on early conversations, evidencebased testing, and treatment plans that are realistic for real life. It’s not just about fixing what’s wrong. It’s about helping women stay well, long-term,” she underscores.

What makes it more convenient for women, Eluvo Health combines in-clinic care with telehealth support, so we get the guidance we need, when we need it. Education is built into every step of the experience, creating a space where women feel empowered to ask questions, explore their options, and take an active role in their health decisions without fear or hesitation.

At the core of Eluvo Health’s approach is its “Talk, Test, Treat” model, where care begins with open, stigma-free conversations, where women feel heard and supported. Even the most timid should not feel afraid to ask their most personal question. Experiencing vaginal dryness? The doctors will have a response. This is followed by clear, evidence-based diagnostics, helping remove confusion and uncertainty.

Treatment then extends beyond prescriptions alone, integrating medical guidance with lifestyle support and education—recognizing that wellbeing is both physical and personal. By prioritizing understanding at every step, Eluvo Health empowers women to make confident, informed decisions throughout every stage of life.

At the end of the forum, Violago-Olivarez introduced her team of board-certified specialists across reproductive endocrinology, gynecology, obstetrics, and women’s health who’ve spent many years focused on women’s care. She assured us that her team ensures patients are supported at every step, whether we’re making initial inquiries on our possible conditions, or discussing our more complex concerns in person.

The clinic also works with GenPrime, a global fer-

tility network, giving women access to advanced fertility testing and diagnostics guided by international best practices without needing to travel abroad. While there is no available data, OB-GYNs have noticed the growing prevalence of fertility issues among Filipino women. Conditions like Antiphospholipid Antibody Syndrome (Apas), for example, where the immune system attacks healthy cells and tissues, have been linked to frequent miscarriages.

As we move into midlife, Eluvo also provides dedicated support through perimenopause and menopause, helping us navigate changes in energy, mood, and hormones with clarity and reassurance. Preventive screenings and wellness assessments are available at every stage, offering peace of mind and the ability to plan ahead, assures Violago-Olivarez.

At Eluvo Health, women feel seen, understood, and not judged. The doctors know this is the only way to convey support, information, and inspire confidence.

“This is healthcare as it should be,” says ViolagoOlivarez. “Transformative, empowering, and centered entirely around women.”

n Eluvo Health is located on the 2nd floor of the Parqal Mall, Aseana City. For inquiries, call 0917-169-5475 or visit www.eluvohealth.com

for you, and don’t feel you have to compensate for

HHH

choices. Personal

is

LEO (July 23-Aug. 22): The movers and shakers will attract your attention. Try not to get wrapped up in someone’s pie-in-the-sky ideas. Excitement can lead to lending money or possessions that you’ll never see again. You can be enthusiastic without contributing. Spend your money and time on something that benefits you, not someone else. HHH

fVIRGO (Aug. 23-Sept. 22): Take a moment to contemplate what you want, how you are going to get it and when to make your move. Socializing, love and romance are all on the rise, and if you use your imagination, you can turn something you do into a magical memory. HHHHH

LIBRA (Sept. 23-Oct. 22): Mixed emotions regarding your living arrangements will surface. Put your energy into fixing up your place or moving elsewhere. Don’t take on more debt than you can handle or trust someone else to manage your money or possessions. An event that allows you to promote what you can do will lead to something you least expect. HH

h

SCORPIO (Oct. 23-Nov. 21): Stay calm, stick close to home, and relax and rejuvenate. The time you spend analyzing the past and present will help you make better choices moving forward. Pay attention to how you look and feel, and reach out to someone you trust for an honest opinion. HHHH

iSAGITTARIUS (Nov. 22-Dec. 21): Spend on necessities. Refuse to pay for someone else or to squander on indulgences you don’t need. An impulsive decision will lead to regret. Communication requires honesty, and promises require commitment and completion. Live up to your word, and avoid backlash. Put your time and energy into getting ahead, building your skill set and advancing your career. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Share your thoughts and feelings, and you’ll find out where you stand. The input you receive will be very telling as to what other people think you can do. A shift in how you present yourself can be instrumental to your prospects. Listen, learn and adopt the suggestions that point you in the direction you want to go. HHH

kAQUARIUS (Jan. 20-Feb. 18): Get in the groove and make things happen. If you want something, do your part to ensure it is accomplished. Take liberties to initiate change and to demonstrate how you can make a difference in your life and the lives of others. Let compassion set the mood. HHH

lPISCES (Feb. 19-March 20): Set the pace and focus on your goal. An open mind and a clear sense of what you want to achieve will help you complete your plans. Don’t falter; say what’s on your mind, and you’ll strike a chord with someone you want to spend more time with. Life challenges will diminish with honesty and fair play. HHHH BIRTHDAY BABY: You are helpful, caring and generous. You are charming and optimistic.

‘Sana Sinabi Mo’: Romancing the unsaid

WHAT secrets can a father keep that can end his son’s love for him? What kind of sin will never be forgotten even in death? Is there ever a moral transgression that a church will not understand?

The young man standing behind the podium will soon discover the many responses to those questions. For the moment though, there is a pallor on his face that comes from being alone. He fidgets with a tie in conservative prints as he recalls how his father has always told him it suits him very well. Then the camera slowly moves away as the white blur reveals a wreath. The young man is Seph, who is training to be a missionary. He is delivering a eulogy for his father, Joseph “Otep” Mariano, who is also a member of this church. Seph continues to talk, this time the break in his voice is more apparent. He speaks fondly of his father. He lived his life “for the Lord”—the last phrase earning an applause from his community.

At this point, the sound of shoes on the cement floor catches the attention not only of Seph but those who are attending the service. It is a woman. She runs up there with Seph, beyond him and right in front of the coffin. She is Cecil. She cries like she is the other woman in the life of Otep. But something else dis-

DOES MOMMY KNOW BEST?

THE reality show star’s mom is being criticized by fans for favoring a certain male star to be paired with her daughter. Meanwhile, many fans of the reality show star want her to be paired with a guy who is more age-appropriate. The girl’s mom seems to be living vicariously through her daughter because when she was young, she had a big crush on Guy 1’s dad. While the fans were wrong to call out the mom, perhaps she should have been more prudent about showing who her favorite is. This is important because this could be the daughter’s breakthrough and one wrong move could change the course of her career. Everybody around her, including her handler, should be careful in how they interact with fans in public.

HEART OVER MIND

THE actor waited for years in order to achieve stardom and be elevated from starlet level. Now, he has finally done that. However, many of his fans are apprehensive that the actor is letting his heart make decisions for him, thus endangering whatever gains he has right now. His fans feel that the actor’s current girlfriend is just using him to be more likeable to the general public. It’s been proven a number of times that she has “used” other people to achieve what she wants to achieve, only to dump them when she is done. The girlfriend also has the habit of showing up where the actor is. His fans insist that she’s doing it to remind people of her presence in his life.

NEW GUY FOR BEAUTY QUEEN

EVERYBODY is talking about the rumored romance of a rich man and a beauty queen whose goal in life is to hook a rich man. After she was dumped by her former boyfriend for cheating on him, the beauty queen got to work and sunk her claws on the rich man, who is known to have an eye for beauty. Meanwhile, the rich man’s wife can only grit her teeth at his new indiscretion, hoping that in the end he would still choose her. We wonder what their feisty daughter thinks about all this.

ON THE ROCKS

HOW true is the rumor that the celebrity, who married her dream guy, will soon be single again? Apparently, all the pressure they have been through recently has taken its toll on their marriage. According to sources, the celebrity claims she did not know what she was getting into when she married the guy. She reportedly said she had an idea but did not realize how deep the family’s link to organized crime was. It’s true that she benefited from her husband’s and his family’s generosity but she thought all the money came from hard work, which was very naive of her. Did she not wonder why her husband seemed to never run out of money and she could buy anything she wanted? She could buy things she only dreamt of before and go to places always wanted to visit.

closes a discrepant reality: she curses the dead and calls him “bitch.” Seph rushes to her side and asks if she is his Papa’s former lover. We know it is the wrong question. It could trigger a bad response. Cecil laughs throatily and shouts out the secret that Otep has been hiding all these years. That Seph’s father has s*cked more c*ck than Cecil!

Back at their home, after the burial, Seph has to face another burden. The evangelical church to which they belong that has always discoursed on forgiveness and understanding, now condemns his father. The pastor does not want to bless Otep. Joy, Seph’s mother, gives him the task to convince Pastor Leo to bless the mortal remains of Seph’s father. The pastor does not budge. Seph is anxious to fight for his goal. He did not want, however, to compromise his coming trip to Portugal that is being sponsored by his church.

Alone at the deathbed of his father, Seph turns around and with him we see a strapping young man rushing out of the gate. He is the young Otep. Outside waits his good friend, Cecil, young and a flamboyantly certified fag hag (pardon the term).

This is the beginning of a device, which fuses the past and the present. We will see the youthful and handsome Otep at the cusp of his gayness, scared even as there is the eager mentor Cecil, fabulous as she brings our man to a new world. The filmmaker herself does not stop at this sly moment where we catch the glow of the past in the present. She pushes magic as he allows Seph and the still handsome Otep to look at each other.

Shaira Advincula-Antonio is a relentless filmmaker as she plays with the past and the present. While feeling desolate, Seph toys with his father’s mobile phone. He sends a message to his father. Will he respond?

There are two modes now for the suspension of disbelief to occur. There is the fluid movement from present to past and back again, and there is the dead man’s mobile phone that serves as Seph’s connection to his father. It does not take long before Seph discovers a bundle of letters from Spain—from a man that his father fondly called “Rum.” This is just too much for our young man who is between grief and anticipation for the journey abroad. He rushes to the side of Cecil and there discovers more about Otep. Somehow, Seph develops a bond with Cecil. She gives to Seph a letter to Rum from Otep that all these years have remained unmailed. It contains the address in Spain.

Seph eventually travels to Portugal with Marlon, an older missionary. Abroad, Marlon proves to be an addendum to the misery of the plot. While Seph’s mind is filled with all the thoughts about the letter (Spain is so near and yet so far), Marlon is distressed each night as he fears that Pastor Leo is molesting his sister.

Will Seph find the courage to give the letter to Rum in the same manner that Otep lost the passion to offer his love to Rum decades ago?

Sana Sinabi Mo is a muted and nearly reticent attack on a particular sect that thrives on hypocrisy and shameless materialism. That the film did not stay long with the theme of corruption in the church does not diminish this piece. This film remains a film d’amour, offering homage to all those eternal cinemas of regrets and romance.

The film benefits from simple but affecting performances. As Marlon, RK Bagatsing essays this role of a church member who has lost all human agency because at a certain phase of his life, the same church dangled a carrot and an apple. And he bit it. If the illustration of the past as running parallel to the present does not disrupt the narrative, credits go both to the writing and the acting. What human being will not welcome the chance to embrace once more a loved one, even after death? Who will not take the chance to be able to ask a departed beloved about unresolved questions and listen to answers as if death has failed its primal purpose?

The notion of the two sets of characters appearing as a defiance of our laws about reality works because of the actors that embody them. As we watch the jaded Cecil, we don’t have to wonder how she was when she and Seph were both young and daring. Playing the young Cecil, Yesh Burce has all the chutzpah but not yet the woman tired of all the pretense of this society. The terror of portraying the older Cecil is given to Rosanna Roces. Gifted with the gravitas that is a product of reel and real failures, she does not care if she is hateful in her entrance. Toward the middle of Seph’s journey, she gradually turns into a voice of reckless reason.

With an unresolved and yet charming mix of masculinity and femininity, JC Santos is the one great reason why we root for that love in another country. When he quotes from the Corinthian 13. 4-7, “A man who loves, perseveres, always trusts, always hopes and endures everything,” this is the saddest longing

Documentary filmfest set in Manila

LAYAG! 2026, a two-day micro-festival, is set to showcase 14 documentary films done by studentdirectors from various schools, colleges, and universities nationwide.

The event is mounted by the Film Department of the De La Salle-College of Saint Benilde.

“It presents a diverse lineup of filmmakers and stories, some creators even as young as senior high school,” said Benilde Digital Filmmaking Program Chairperson Alec Tash Berame. “The BenildeFilm Department remains committed to expand its efforts in providing more platforms for young and emerging filmmakers to share their art with the world.”

The lineup for February 18 comprises Silent Spaces by Jazrene Gonzales and Cemento by Justine Borlagdan, both from the University of the Philippines (UP)—Diliman, Suwelas by Francis Benedict Recibio from UP, SNAFU by Xydel Vie Saldaña from UP Cebu.

SHUTDOWN by Ryand Angelo Ugalde of Mariano Marcos State University, Pitong with (dis) this ability by Geremy Rivera of Batangas State University - The National Engineering University, and Under the Olive Tree

by Eunice Alyssa Atun and Isabel Grace Kehyeng of Benilde completes the lineup.

On February 19, viewers may catch Isla ng mga Iniwan by Jhe Anne Cagurungan of La Verdad Christian College, Magkasama sa Agos by Janine Custodio of Mapua Malayan Colleges Laguna, Mga Tawong Binukid by Frankie James Balos and Jahaziel Chen Ortiz of Mindanao State University - Iligan Institute of Technology.

The selections are rounded off by Pwede Makipaglaro? by Yuri Turla of Eugenio Lopez Jr. Center for Media Arts Senior High School, Teacher Olym by Rogue Steven Balualua of CIIT College of Arts and Technology, Layag ng Pag-ibig by Reign Margaret Diola of Polytechnic University of the Philippines, and ESENSYA by Chester Arvie Dizor of Benilde.

It will be held on February 18 and 19, at the 12th Floor Screening Room of the Benilde Design + Arts Campus from 5 pm to 8 pm.

Admission is free of charge and open to all students from other educational institutions. Those who are interested in the event are required to pre-register via tinyurl.com/LAYAG2026Regis.

in the world. But the greater bearer of unconditional filial love laced with recriminations falls upon the solid shoulders of Juan Karlos. From the eulogy in the church to that cliff in Spain, his face never lets go of solitude. His face in repose and in tears shows filial devotion but we know deep in him simmers all the regrets and questions of his young life. Juan Carlos brings back the wonder of restrained acting we rarely see now among his peers.

Lotlot de Leon, Nonie Buencamino and Bodjie Pascua co-star. Jaime Garcia is Rum.

Shaira Advincula-Antonio had proven her gift as a story teller in the Gawad Urian award-winning Bentong. With Sana Sinabi Mo, she gifts us with the enchantment of the unsaid. Praises should go also to the Director of Photography, Kara Moreno; Editor, Ben Tolentino; Sound Designer, Roy Santos; Production Designer, Timi Dominguez;. Music Composer, Teresa Barrozo. The producers are Antoinette Jadaone and Dan Villegas. The film streams on Netflix.

Sparkle launches ‘Sparkle Run’ for 2026

A LARGE-SCALE fitness and fan engagement event set to take place on May 30, 2026, Sparkle Run is a run for kindness—a wellness-driven initiative that celebrates kindness to the body and to the community.

Designed to encourage an active lifestyle while fostering meaningful connections, Sparkle Run brings GMA fans together with their favorite Sparkle artists through an energetic and inclusive experience. Open to runners of all levels, the event promises a vibrant fan-fest atmosphere that blends fitness activities, live performances, and interactive engagements, allowing fans to connect personally with their idols.

Throughout the run, participants will take part in simple yet powerful acts of kindness—supporting one another, sharing encouragement, and promoting self-care and compassion—by running together and leading through positive example.

Sparkle Run is spearheaded and mounted by Sparkle in partnership with the Department of Tourism, Culture and Arts of Manila (DTCAM) as their venue partner, and RUNRIO Inc. as event organizer. Aimed to transform the streets into a dynamic space filled with energy, encouragement, and shared joy, the race route will pass through key Manila historical landmarks, starting and ending at the iconic Quirino Grandstand.

Targeting 8,000 participants, Sparkle Run invites everyone to join, from seasoned runners to first-timers. More details on registration will be announced soon on the Sparkle and RUNRIO social media pages. Fans can look forward to a one-of-a-kind experience that brings people together in a celebration of good vibes, shared energy, and genuine kindness.

Okada Manila Marks 7-Year Forbes Travel Guide 5-Star Streak

Okada Manila has once again secured the coveted Forbes Travel Guide 5-Star rating, extending its distinction to seven consecutive years.

Okada Manila remains the Philippines’ largest integrated resort awarded Forbes Travel Guide 5-Star status across the entire facility. In the same announcement, The Retreat Spa at Okada Manila earned its fourth consecutive Five-Star recognition, underscoring the resort’s continued excellence across both hospitality and wellness.

“This recognition affirms our commitment to delivering meaningful and memorable guest experiences at every touchpoint,” said Robert Scott, Vice President for Hotel Operations at Okada Manila. “We are especially proud to be the only integrated resort in the Philippines where our spa, as well as every hotel room is Forbes Travel Guide Five-Star accredited. This reflects our unwavering dedication to consistent service excellence.”

Forbes Travel Guide conducts independent, anonymous inspections of the world’s most respected hospitality destinations, with service quality as the most critical benchmark. Maintaining a 5-Star rating year after year reflects exceptional consistency, operational discipline, and an unwavering dedication to guest satisfaction.

At Okada Manila, this distinction reflects a fully integrated guest journey, where accommodations, dining, entertainment, leisure, and wellness experiences operate seamlessly to deliver

Manila has once again secured the

consecutive year.

a unified 5-star standard across the resort. This experience is defined by the resort’s distinctive service philosophy, where the precision and attentiveness associated with Japanese excellence are balanced by the warmth and graciousness of Filipino hospitality.

At The Retreat Spa at Okada Manila, the Forbes Travel Guide 5-Star rating recognizes outstanding performance in bespoke service, holistic treatments, world-class facilities, and meticulous attention to detail, delivering restorative wellness experiences designed to inspire relaxation, balance, and renewal.

As Forbes Travel Guide continues to evaluate properties annually against the world’s leading hospitality brands, Okada Manila remains measured by the same international standards applied to the finest resorts globally, ensuring guests enjoy service that is consistent, reliable, and truly world-class.

Beyond its Forbes Travel Guide accolades, Okada Manila continues to earn international recognition for leadership across integrated resort hospitality. In 2025, the resort was named Best Integrated Resort Asia at the Asia Gaming Awards and received Corporate

Social Responsibility of the Year at the Global Gaming Awards Asia-Pacific, highlighting its commitment to both exceptional guest experiences and responsible operations.

The resort also garnered global recognition for meetings and events excellence, receiving Best Meetings and Convention Hotel in the Philippines at the TTG Travel Awards and Philippines’ Best Incentive Hotel at the World MICE Awards. Culinary achievements were likewise celebrated, with Ginza Nagaoka earning MICHELIN Selected recognition and La Piazza receiving the Best of Award of Excellence from Wine Spectator.

Additional honors, including TripAdvisor Travelers’ Choice Awards, Booking.com guest review recognition, Best Sustainability Program awards for Okada Green Heart, and Best Poker Room in an Integrated Resort at the Inside Asian Gaming Awards, further reinforce Okada Manila’s leadership across guest satisfaction, sustainability, and gaming excellence.

Together, these recognitions affirm Okada Manila’s position as one of Asia’s leading integrated resorts, delivering exceptional experiences across hospitality, dining, events, gaming, and entertainment.

Catch the love for every kind of Valentine at Novotel, Ibis Styles Manila Araneta City

LOVE does not come in just one shape, on story, or one celebration. This Valentine’s season, Novotel and ibis Styles Manila Araneta City open their doors to every kind of Valentine, from couples who want to linger a little longer, to friends who choose laughter, to individuals who find joy in rest and renewal. At Novotel Manila, romance begins with unhurried stays that encourage togetherness. The Stay Pampered, Stay in Love Staycation + In Balance Spa Offer is available from February 13 to 28, 2026, with bookings open until February 27, 2026. Priced at P15,888 nett per night for an Executive Suite Room, this indulgent retreat includes a complimentary 60 minute Couples Escape treatment at In Balance Spa for two persons, a bottle of wine and Auro Chocolate redeemable at Indulge Gelato, breakfast buffet for two adults and two children aged 16 years old and below at Food Exchange Manila, and exclusive access to the Premier Lounge. For those who believe that love is also about choice, Novotel Manila presents the Stay in Luck, Stay in Love Staycation and choice of Valentine’s Gift Offer, available for stays until February 28, 2026. Rates start at P7,888 nett per night. Guests may choose between a thoughtfully arranged box of pre made flowers from Belle Fleurs or P1,000 worth of dining credits at Food Exchange Manila, along with breakfast buffet for two adults and two children aged 16 years old and below. Executive Room and Suite bookings also enjoy access to the Premier Lounge. Food Exchange Manila hosts Plates Full, Hearts

Flutter, a special Valentine’s Buffet priced at P3,099 nett per person, available for lunch from February 14 to 15, 2026, from 12 noon to 2:30 pm, and dinner from February 13 to 15, 2026, from 6 pm to 10 pm. Guests can enjoy a generous spread complemented by free flowing beverages, a glass of wine, sweet surprises from Auro Chocolate, live entertainment, and a playful pick a giveaway activity. Children aged eight years old and below dine for free when accompanied by one paying adult per child. For couples craving quiet moments and meaningful connection, In Balance Spa at Novotel Manila presents Lover’s Gastronomic Wellness Escape, a thoughtfully designed retreat inviting guests to slow down and savor the season of love. Available for selling until February 28, 2026, with redemption until March 1, 2026, this indulgent experience is priced at P7,999 nett for two persons. Couples can unwind with a deeply soothing 90 minute signature massage using warm aromatic oils, followed by a curated three course gastronomic meal redeemable at Gourmet Bar or The 6th Manila. At ibis Styles Manila Araneta City, Valentine’s is celebrated with a playful heartbeat. The Singles Slumber Squad Staycation invites friends and singles to embrace the season with lighthearted fun. Available for booking until February 13, 2026, with stay dates from February 14 to 15, 2026, rates are P4,999 nett per night for a Standard Room and P9,999 nett per night for a Family Room. Inclusions feature breakfast at strEATs and tickets to the Find Your Lock Valentine’s Party, with two tickets for

Prevent a Valentine’s Day disaster with the help of SM Store’s personal shoppers

VALENTINE’S Day has always been a celebration of the small, tender gestures that make our relationships feel cherished like a handwritten note slipped into a bag, a favorite snack bought “just because,” or a thoughtful surprise waiting at the end of a long day. But as February 14 draws near, the rush, the crowds, and the pressure to find the “perfect gift” can often dim the joy of giving.

That’s where SM Store’s Personal Shoppers have your back, bringing back the heart in gifting by helping Filipinos celebrate with intention, ease, and a little more love. With their guidance, even the most last‑minute shopper can avoid classic Valentine’s mishaps like forgotten gifts, missing deliveries, or choices that feel more rushed than heartfelt. Rooted in the spirit of simply wanting to make someone feel appreciated, here are five ways you can keep Valentine’s Day beautiful, meaningful, and disaster‑free.

Ask for gift ideas from someone who knows your loved one well

The most meaningful presents often begin with stories like quiet details shared by a sibling, a best friend, or even your partner’s go‑to sales assistant. A small clue goes a long way. And when you share these hints with your SM Store Personal Shopper, they can help you find thoughtful options that reflect who your loved one truly is, not just what’s left on the shelf.

Find thoughtful alternatives for sold-out gifts

Some gifts disappear fast this season, but love doesn’t have to rely on limited stock. Personal Shoppers can suggest alternatives that are just as meaningful or perhaps even more so. Whether it’s a similar style, a local brand with a beautiful story, or a premium pick you might have missed, they’ll gently guide you toward a gift your loved one will treasure.

Don’t forget to remove the price tag and hide the receipt

It’s a classic Valentine’s Day slip. But with SM Store’s Personal Shoppers, every gift arrives ready to give, beautifully wrapped at the gift wrapping counter and thoughtfully prepared at the Counter. You even have the option to elevate your gift further with The Custom Lab’s embroidery, engraving, and stamping services that add a warm, personal touch.

SM Store’s personal shoppers can help you find thoughtful options that reflect who your loved one truly is, not just what’s left on the shelf.

Ensure your orders arrive just in time Nothing spoils a surprise like a gift arriving days too late. With SM Store’s Personal Shopper service, you can enjoy same‑day delivery using the courier of your choice or choose the comfort of in‑store pickup at your preferred branch and time. Whether you place your order through Viber, call, or video chat, your Personal Shopper will help ensure your gift finds its way home right when you need it.

Skip the lines and the traffic on February 13 Valentine’s Eve is famously one of the busiest days of the year. The lines grow longer, traffic gets heavier, and stress levels tend to spike. But with Personal Shoppers doing the browsing, selecting, checking, and coordinating for you, all that’s left is the joy of gifting, not the rush that usually comes with it.

This Valentine’s Day, SM Store’s Personal Shoppers hope to bring a little calm into the chaos, helping choose gifts that speak from the heart. Whether it’s something they’ve been hoping for, something they need, or something that simply says, “I appreciate you,” your Personal Shopper is ready to help you buy it, with no mark up, and get it to you with ease.

Remember, the most memorable gifts are the ones chosen with care, thought, and intention. To rediscover the joy of meaningful giving, all you need is someone to help make that possible.

Shop with the SM Store’s Personal Shopper Service today.

Richmonde Hotels keep romantic traditions alive

Standard Room bookings and four tickets for Family Room bookings.

The celebration continues at The Edge Skyview Bar with the Find Your Lock Valentine’s Day Party on February 14, 2026, from 7 pm onwards, where love meets laughter high above the city. Priced at P1,499 nett per person, with a five plus one group offer at P7,495 nett for six persons, the experience includes three hours of free flowing cocktails, beers, sodas, and iced tea.

For a more intimate dining experience, Le Bistro at ibis Styles Manila sets the scene for Starlit Romance, a Très Romantique Valentine’s Dinner on February 14, 2026, from 7 pm to 10 pm. Priced at P4,999 nett for two persons, with a special rate of P4,599 nett when booked via My Novotel Manila Boutique, the experience features a five course French inspired menu, welcome sparkling drinks, wine, thoughtful keepsakes, and romantic table styling.

Stretch the love all month long with Styles In Motion presents Valentine’s through Love in Sync, a shared yoga flow designed to deepen connection one breath and one movement at a time. Set at Get Soaked Pool and Lounge at ibis Styles Manila, this 60 minute session invites couples, friends, and partners to roll out the mat and move side by side in a relaxed, feel good atmosphere. Led by Wellness Coach Joy Compuesto, Love in Sync takes place on February 14 and 28, 2026, from 7:30 am to 8:30 am, and is priced at P799 nett for two persons or P499 nett for one person. The experience includes complimentary pool access on the same day, exclusive dining discounts, and use of shower and locker facilities.

“Love is experienced in many ways, through moments of rest, laughter, shared meals, and time spent simply being together,” shares Maria Manlulu Garcia, Area General Manager of Accor Philippines for Premium, Midscale, and Economy brands, and Cluster General Manager of Novotel and ibis Styles Manila Araneta City. “This Valentine’s season, we curated experiences that celebrate every kind of connection, giving our guests the freedom to express and enjoy love in ways that feel most meaningful to them.” Celebrate love this month. For more information about For Every Kind of Valentine offers, visit www. novotelmanilaaranetacity.com or contact (+632) 8990 7888 or email H7090@accor.com.

Explore the Catch The Love, Get The Feels offers by visiting www.ibisstylesmanilaaranetacity.com. For inquiries and table reservations, please call (+632) 8248 8444 or email HB133@accor.com.

SOME traditions never lose their charm—especially those that invite people to pause, reconnect, and celebrate the relationships that matter most. This Valentine’s season, Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, and Richmonde Hotel Iloilo present thoughtfully curated dining experiences and staycation escapes designed to turn meaningful moments into lasting memories. Through inspired cuisine, attentive service, and immersive seasonal offerings, Richmonde Hotels continue to honor the timeless ritual of celebrating love together.

“Occasions like Valentine’s Day remain meaningful because they give us a reason to slow down and appreciate one another,” shares Cluster General Manager Jun Justo. “At Richmonde, we see hospitality as a way to nurture these traditions by creating spaces where genuine connections and unforgettable experiences naturally come to life.”

Richmonde Hotel Ortigas: A Love Story Told Through Filipino Flavors

At Richmonde Hotel Ortigas, romance takes center stage with “Ang Kwento ng Pag Ibig,” a pre Valentine’s dinner on February 13, 2026 at Richmonde Café. The five course Filipino themed degustation captures the evolving stages of love through thoughtful storytelling and elevated flavors.

The journey begins with cured tuna tartare brightened with calamansi, followed by heritage inspired bringhe arancini that blends nostalgia with contemporary flair. A comforting guava sinigang broth paired with salmon ravioli brings warmth and depth, while the main course offers a choice between slow braised beef adobado or spirit kissed halabos prawn. The evening concludes on a sweet note with tibok tibok panna cotta drizzled with muscovado syrup, complemented by curated wine, cocktail, or mocktail pairings.

“Our intention was to create a menu that reflects the emotional arc of love,” says Food and Beverage Manager Ria Rosal. “And Filipino flavors provide familiarity, allowing diners to connect with the experience on a deeper level,” adds Sous Chef Rowell Manahan. Guests wishing to extend the celebration may take advantage of the “Lucky Match” room promotion throughout February, blending Valentine’s festivities with the auspicious spirit of Chinese New Year. On February 13, special bundled packages combine an overnight stay with dinner for two, offering a seamless romantic escape.

Eastwood Richmonde Hotel:

“Valentine’s celebrations today extend far beyond couples,” shares F&B Manager Dave Banez. “Many of our

create a meal that’s both special and satisfying.”

Complementing the dinner is the “Lucky in Love” accommodation package, with overnight rates on February 14 bundled with the Valentine’s dinner for two. Discounted room offers throughout the month further enhance the festive mood, blending the spirit of Valentine’s Day with the good fortune of Lunar New Year.

Richmonde Hotel Iloilo: Ilonggo Warmth and the Spirit of Palangga In Iloilo, Richmonde Hotel Iloilo celebrates the Ilonggo spirit of “palangga,” a word that speaks not only of romance but also of care, warmth, and community, through “Angga,” a Valentine’s Day dinner on February 14, 2026 at The Granary. The experience highlights generous, shareable dining with buffet style appetizers, charcuterie, desserts, unlimited plated selections, bread baskets with assorted spreads, and a glass of wine. “The concept of palangga inspired us to create something heartfelt and welcoming,” says Executive Sous Chef Rey Parreño II. “We wanted the experience to feel abundant, comforting, and distinctly Ilonggo.” Guests may continue the celebration with the “Sweet Escape” Valentine room package, available until February 18 and inclusive of breakfast, dining credits, and themed amenities. For those seeking flexibility, the month long “Feel Good February” promotion offers additional staycation options. Across all properties, Richmonde Hotels blend timeless romantic traditions with contemporary experiences, inviting guests to celebrate love in its many forms while creating stories worth remembering long after the season ends. For reservations and inquiries, guests may contact Richmonde Hotel Ortigas at (632) 8638 7777, email stay@richmondehotelortigas.com, or visit www.richmondehotelortigas.com.ph. Eastwood Richmonde Hotel may be reached at (632) 8570 7777, stay@eastwoodrichmonde.com, or www. eastwoodrichmondehotel.com.ph. For celebrations in

or www. richmondehoteliloilo.com.ph.

Okada

coveted Forbes Travel Guide 5-Star rating for the 7th

A Valentine’s season that embraces every story, every mood, and every way love is felt.

Editor: Tet Andolong • www.businessmirror.com.ph

Motoring BusinessMirror

DEEPAL PHILIPPINES TEASES

THE UPCOMING REEV TRIO

Story and photos by Randy S. Peregrino

NAutohub Group recently flew us to Chongqing, China, to see the upcoming models up close and in the metal. While the full specs of these models are still under wraps, we were able to gather essential vehicle specifications. We can only hope the local version will be similar.

Deepal S05 REEV compact crossover SUV DEBUTING this summer, the S05 presented in Moonlight White fuses spacecraftinspired aerodynamics. Its wide-body stance and spacecraft-inspired front fascia highlight the “Smart Wing LED Headlights.”

distribution, and independent suspension. Moreover, a High Strength Steel and Aluminum Chassis.

Measuring 4,620 mm in length, the S05 boasts sleek curves, sharp creases, aerodynamic contours, and dynamic accents. At 1,900 mm wide, it is one of the broadest C-SUVs in its class, with a 2,880 mm wheelbase. The rear features “Star Wing Tail-lights” with a striking visual signature: arrow-like beams converging at the center. The 18-inch two-tone alloy wheels are wrapped with 225/60 R18 tires. Noteworthy is the frameless door design. The interior features an intelligent flight-capsule wraparound design. Interestingly, it has a Zero Gravity Co-pilot Seat—a first in its class locally. It has a

four-way powered adjustment with twoway leg rest adjustment and 124 ° reclining capability. The Cosmic Amber interior features an Intelligent Emotional Cockpit design that highlights the vivid 15.4-inch Sunflower touchscreen with seamless control. There is also a Heads-Up Display with AR Navigation that displays real-time navigation, speed limits, and critical driving information directly on the windshield, using Augmented Reality (AR). The entire operating system is powered by a Qualcomm Snapdragon 8155 Automotive System-onChip with a whopping 16GB of RAM and 128GB of storage for on-the-go access. Other interior elements include 14 Sky Surround Speakers, 50-watt Wireless Mobile Charging, Multi-Function Steering Wheel, Panoramic Stargazing Roof, and 64-Colors Ambient Light.

Motivation comes from Deepal RangeExtender Technology 2.0, which features a 1.5-liter gasoline engine as a rangeextender and a Force E-Drive Electric Motor (Permanent Magnet Synchronous Motor) generating 215 hp and 320 N-m of torque. Electric power is provided by a 27.28 kWh Golden Shield Battery, delivering up to 170 kilometers of pure electric range with over 1,000 kilometers of total combined range. A couple of noteworthy features are the IP68 water- and fire-resistant battery rating and an RWD layout with balanced dynamics. The Vehicle-to-Load (V2L) feature provides 6.6 kW of portable power. Fuel tank capacity is 44.9 liters.

As for safety and convenience, the S05 is equipped with FutureSense 2.0 TM – Deepal’s next-generation intelligent driving assistance system with 20 advanced features, Intelligent Driving Assistance functions, Smart Guardian mode, and the intelligent self-park feature. At its core, the Deepal S05 is built on an advanced EPA1 platform-an intelligent, ultra-safe foundation featuring RWD, balanced weight

Now, for the targeted price point, Autohub Group revealed its plan to go headto-head with the current best-selling PHEV compact crossover.

Deepal G318 4WD REEV

ANOTHER summer debutant is the G318 REEV, presented in bright Sunshine Gold. It adopts the brand’s “Pioneer Armor Aesthetics” design language. At the front, the wide fascia is accentuated by penetrating light bands and distinctive C-shaped split headlamps, while the bumper carries a mechanical armor motif complete with a five-ton retractable tow hook for serious utility. The roof integrates high beams and camping lamps. Along the sides are a broad body (over two meters wide) and strong wheel arches featuring 18-inch alloy wheels wrapped in 265/60 R18 tires. The SUV measures 5,125 mm long, 2,025 mm wide, and 1,895 mm tall, with a wheelbase of 2,880 mm.

At the rear, the design is completed with a reinforced spare tire mount with a single swing arm cover. Other exterior features include a telescopic front tow hook, a 1.6ton qualification tow hook (including power take-off interface and ball joint), luggage rack PLUS, high-energy matrix headlight cluster, mechanical spike hubs (rear tire), and all-aluminum alloy step boards. The approach angle is 27 degrees, the departure angle is 31 degrees, and the ground clearance is 210mm - 240mm.

Inside, the cabin features a dualscreen digital cockpit comprising a 10.25-inch instrument panel and a 14.6inch touchscreen. Premium materials feature soft-touch suede-like surfaces and leather upholstery with red stitching. The AI-powered intelligent interface integrates seamlessly with the vehicle’s

systems, offering advanced connectivity and personalized driving assistance. The second row supports three levels of heating, ventilation, and massage (eight modes). The conventional trunk space is 818liters with a maximum expansion to 1,747 liters.

Motivation comes from a “Super Extended Range 2.0” technology that consists of a 1.5-liter turbocharged gasoline engine as a range extender and dual Permanent Magnet Synchronous Motors.

Performance output is 424 hp and 572 N-m of combined torque (dual motor). Electric power is provided by a 35.07 kWh battery, delivering up to 174 kilometers of pure electric range and over 900 kilometers of total combined range. Off-road features include a rear axle differential lock with five terrain modes and three special scenes, including Mud, Snow, Sand, Rugged, and Wading. The three special scene functions are off-road creep, steep slope descent, and U-turn in place. As for damping, it has an air suspension setup.

Safety-wise, the G318 is equipped with five high-definition cameras, five millimeter-wave radars, and 12 mm ultrasonic radars, as standard. The Intelligent Safety Assistance has 12 major safety warning systems, six major safety assistance systems, Sentry mode, a 540-degree panoramic image, and steep slope vision assist.

The target price point? An attractive figure that would shake up the sought-after 4x4 pickup-based SUV segment.

Deepal S07 REEV

THE S07 REEV crossover presented to us was in striking Blazing Cloud Orange color. Its exterior design’s inspiration is a symbiotic aesthetic appearance, which, according to Deepal, embodies futuristic elegance with sporty sophistication. It has its brand’s signature “Moon String Front” design language, characterized by a sleek fascia

with split light clusters and an active grille. Its silhouette is streamlined with hidden door handles and a flowing roofline, giving a coupe-like profile. At the rear, penetrating LED light bands span the width of the vehicle. Dimension-wise, the vehicle is 4,750 mm long, 1,930 mm wide, and 1,625 mm tall. It rolls on 19-inch alloy wheels wrapped in 235/55 R19 tires. Also noteworthy is the frameless door design. Dimension-wise, the vehicle is 4,750

CARS, RACE & EVIS growth instruments–Atienza

Industry. His steady leadership guided the group through both tough times and unprecedented market growth... let’s please give him a warm round of applause.

EW energy vehicle (NEV) premium brand Deepal, under the Autohub Group, is looking to shake up the electrified vehicle segment, particularly the plug-in hybrid (PHEV) category. Three Rangeextended Electric Vehicle (REEV) models are set to debut this year. Two models will debut in the summer, while the other will come later in the year. One thing is certain: the upcoming NEV brand is looking to compete with the current popular PHEV compact crossover SUV, and the best-selling 4x4 midsized SUVs. J

“As you know, the CAMPI Board of Trustees elected Toyota Motor Philippines (TMP) for the position of President again this year. And as the company’s representative, I am entrusted with this great responsibility, and distinct honor of leading this organization. I thank the board and my principals at TMP for the trust and confidence.

“Let me introduce myself. I am Jose Maria Atienza; everyone calls me Jing. I have been working in the auto industry for 35 years. Most of it in the Marketing Division of TMP, where am currently the Executive Vice President. In my younger years, I was also given the opportunity to work in Toyota’s Financial Arm, TFS as Head of Marketing and in another assignment as President of the Toyota Makati Dealer Group.

I say thank you for a job well done. Rommel has selflessly dedicated the better part of 14 years, in service of CAMPI and the Auto

“CAMPI is guided by its new vision of fostering mobility transition in the Philippines. Supported by four coequal strategic pillars: (1) Technology

and Innovation, (2) Vehicle and Road Safety, (3) Industry Development and (4) Sustainability—our framework for future action focuses on establishing automotive as a key sector with significant economic and societal contribution.

PIMS

“CAMPI is determined to make the Philippine International Motor Show (PIMS) as the leading platform to showcase mobility technologies and promote electrification in the country.

“CAMPI will support the implementation of Philippine commitments under the World Forum on Harmonization of Vehicle Regulations (WP29); and continue to advocate the immediate ratification by the Philippines of the ASEAN Mutual Recognition Arrangement on Type Approval for Automotive Products (APMRA). The adoption of international standards is more an issue of safety than trade facilitation and should be tackled swiftly and decisively.

“In December 2025, CAMPI became a party to the E-Commerce Memorandum

of Understanding (MOU) with the guidance of the Intellectual Property Office of the Philippines (IPOPHIL).

“CAMPI will enter shortly into a Memorandum of Agreement with the Department of Transportation for the implementation of road safety activities to support the Philippine Road Safety Action Plan 2023-2028.

CARS

“WE believe that the Comprehensive Automotive Resurgence Strategy (CARS) Program, Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program and the Electric Vehicle Incentive Strategy (EVIS) are all instrumental in overall industry recovery and growth.

“We will continue to support the Technical Education and Skills Development Authority (TESDA) in the creation of training regulations and competency assessment tools through the CAMPI Experts Panel.

“CAMPI will continue to advocate for a multi-pathway approach to carbon neutrality, guided by a technologyneutral strategy to ensure a balanced

transition towards electrification.

“As CAMPI President, I am looking forward to:

n “Sustaining current and forging new partnerships to help realize CAMPI’s vision, n “Creating new opportunities for CAMPI members and our parts suppliers; and,

n “Demonstrating through concrete actions the value that CAMPI brings to industry and its various stakeholders as a partner for growth.

29 members

“CAMPI is now 29 members strong—all representing global OEMs that account for 95 percent of the automotive market. We are confident that CAMPI can continue to best represent the interests of the Automotive Industry.

“To our stakeholders, we offer our collective knowledge and expertise to support policy formulation, the development of regulatory and enforcement framework, as well as other mobility transition initiatives.

“To borrow the words of our

Chairman, Representative Jose Ch.

B8 Friday, February 13, 2026

THAILAND’S Naprichit Pudla and Estonia’s Trina Trei stamped their class in the Freestyle division as the International Container Terminal Services Inc. (ICTSI)-Philippine Kiteboarding Tour (PKT) Season 11 blasted off in spectacular fashion recently in Calatagan, Batangas. Under near-ideal wind conditions and bright skies, Pudla and Trei delivered gravity-defying tricks, technical handle passes, massive spins and perfectly executed flips to seize top honors in the kickoff leg of the three-stage circuit. Pudla outclassed a stacked international field in the Men’s Freestyle, combining amplitude and technical precision

Thai, Estonian display elite act in Calatagan

Sports

a serious competitive sport where Filipinos can truly shine on the world stage,” said Philippine Kiteboarding Association president Jay Ortiz. “Seeing athletes like Janoya win a SEA Games medal validates everything we are building.” Ortiz emphasized that the PKT serves as the backbone of that progress.

“The PKT is the heartbeat of our development program. It’s where we discover and hone the next generation of champions—from our 50-plus Grandmasters to our Novice riders,” Ortiz said. “At the same time, we are promoting the Philippines as a toptier sports tourism destination with world-class conditions.”

The other categories are Hangtime, Twin Tip Racing and Foil Racing, along with divisions for men and women Grandmasters (50+) and Novice riders.

THE search is on for the fifth batch of inductees to the distinguished Philippine Sports Hall of Fame.

The Philippine Sports Commission (PSC) under chairman Patrick Gregorio will spearhead the search for the latest additions to the growing list of legendary and exceptional Filipinos in the field of sports.

The Philippine Sports Hall of Fame was established in 1999 through legislation under Republic Act No. 8757 and signed by former President Joseph E. Estrada.

The first batch of honorees was inducted in 2010 with 10 athletes, followed in 2016 with 17 names, 2018 with another 10 and in 2021, also with 10, bringing the total number of inductees to 47.

Among the names that are already in the honor roll are Simeon Toribio, Miguel White, Caloy Loyzaga, Ceferino Garcia, Pancho Villa, Gabriel Elorde and Teofilo Yldefonso in 2010; and Mona Sulaiman, Ed Ocampo, Kurt Bachmann, Eugene Torre, Felicisimo Ampon and Johnny Jose in 2016.

Lydia de Vega-Mercado, Filomeno Codinera, Ambrosio Padilla, Olivia Coo, Paeng Nepomuceno and Ben Arda in 2018; and Elma Muros-Posadas, Robert Jaworski, Arianne Cerdena, Leopoldo Serantes, Roel Velasco, Paulino Alcantara and Eric Buhain were inducted in 2021. The PSC announced that nominations to the next batch of inductees are now open.

Individuals and organizations are invited and welcome to nominate deserving sports icons before the March 15 deadline and nominations will be accepted through the PSC Facebook page.

Trina Trei makes a triumphant return to Philippine waters and the Europen champion wows the crowd with stylish combinations and clean landings that underscore her elite pedigree. PKT PHOTO

By Josef Ramos

RICKY VARGAS flew to Los Angeles on Thursday to resume his chef de mission chores for Team Philippines to the LA 2028 Olympics and to start laying a foundation for a full-blown sports tourism campaign in the US.

“My task as chef de mission is for the Filipino athletes’ campaign in the 2028 LA Olympics and beyond—for sports tourism,” Vargas told BusinessMirror before boarding his flight along with Cignal Channels and Content Management First Vice President Sienna Olaso, Philippine Basketball Association commissioner Willie Marcial and vice chairman Alfrancis Chua. Vargas—currently PBA chairman, head of the Samahang Basketbol ng Pilipinas and a former president of the Philippine Olympic Committee (POC)— will visit world-class sports facilities and billeting venues that will serve as pre-LA2028 training camp for Filipino athletes who will qualify for the games.

POC president Abraham “Bambol” Tolentino pushed for a training camp ahead of the Paris 2024 Olympics in Metz, France, and the result was positive—two gymnastics gold medals from Carlos Yulo and a boxing bronze medal from Nesthy Petecio and Aira Villegas.

“This is to continue the vision of POC president Bambol,” Vargas said.

Mika and Kim vs Bella PLDT’s Mika Reyes and Kim Dy gang up on Capital1’s Bella Belen—who explodes anew with 28 points—in the High Speed Hitters’ 25-20, 25-16, 22-25, 25-17— their second straight—in the Premier Volleyball League All-Filipino Conference at the FilOil Playtime Centre in San Juan on Thursday . PVL IMAGES

Vargas on a mission in Los Angeles

“We have a meeting with the Philippine Consulate, the Filipino community, and some site visits for our long-term programs to help our campaign in the Olympics,” he said.

“We can’t specify yet the venues because it’s still too early, but we must work now.” Vargas started laying the groundwork during a three-day visit September last year in Los Angeles where he scoured potential training facilities, hospitality venues and accommodations for the Philippine delegation. That initial trip included an ocular of Pepperdine University, Loyola Marymount University and UCLA, which offers a sprawling 400-acre campus that will be part of the Olympic Village for the games.

“Other countries have started to check out the same things that

we’ve checked,” said Vargas then. Olaso and Cignal Vice President for Sports Business Development Miguel Vea was also in that trip which Vargas said was the first round of his task as chef de mission. Also on the ocular list are potential hospitality and event centers for the POC where guests and supporters may be hosted during the Games.

Among those options were The Petersen Automotive Museum and Film Academy Museum, while 20 hotel rooms were noted to be booked in a central location to house key officials and staff.

While there, group paid a courtesy call on Philippine Consul General in Los Angeles Adelio Cruz and met with the Consulate’s Management Committee.

than 20 athletes and coaches who were killed in the war with Russia. AP

The decision came roughly 45 minutes before the start of the competition, ending a three-day saga where Heraskevych knew he was risking being pulled from the Games by wearing the helmet—one that the IOC says bans rules against making statements on the field of play—in training and vowing to do so again in the race.

He received written word Thursday from the International Bobsled and Skeleton Federation (IBSF), which said his decision to wear the helmet was “inconsistent with the Olympic Charter and Guidelines on Athlete Expression.”

The IOC asked—pleaded might be the better word—for him to wear a different helmet for races and offered concessions such as the right to wear a black armband or even the ability to display the helmet once he was off the ice.

“I believe, deeply, the IBSF and IOC understand that I’m not violating any rules,” Heraskevych said. “Also, I would say [it’s] painful that it really looks like discrimination because many athletes already were expressing themselves.... They didn’t face the same things. So, suddenly, just the Ukrainian athlete in this Olympic Games will be disqualified for the helmet.”

IOC President Kirsty Coventry, who was slated to be in Cortina d’Ampezzo on Thursday to see Alpine skiing, went to the sliding center instead to meet Heraskevych. AP

“A Pilipino House for sports tourism in support of the PSC chairman’s [Gregorio] vision and an Athletes House vision of the POC president [Tolentino],” Vargas said.

“I am here to help.”

“Our goal is to provide our athletes with the best possible environment to train, prepare, and ultimately represent the Philippines with pride at the Los Angeles Olympics,” Vargas said. On the side, Vargas and his team will be watching the National Basketball Association All-Star Weekend in Los Angeles. The LA Olympics are set July 14 to 30, 2028.

Vargas will also help set the tone for the sports tourism campaign initiated by Philippine Sports Commission chairman Patrick Gregorio through the National Sports Tourism Inter-Agency Committee.

Frayna tops Malolos tourney, back as women’s champion

JANELLE MAE FRAYNA dominated the Philippine National Women’s Chess Championship in Malolos on Wednesday night—her fourth national title after reigning supreme in 2013, 2016 and 2021. Frayna, the country’s first and only Woman Grandmaster so far, played with caution in a Petroff Duel

VLADYSLAV HERASKEVYCH’S helmet has images of the faces of more

JANELLE MAE FRAYNA refuses to commit any blunder this time around. NCFP PHOTO

RICKY VARGAS is in the second round of his ocular of Los Angeles as chef de mission to the Los Angeles 2028 Olympics. PBA IMAGES