BusinessMirror February 27, 2026

ALTHOUGH

the Philippines is geographically far from geopolitical tensions abroad, rising global oil prices are emerging as a key upside risk to domestic inflation.

National Statistician Dennis

Claire S. Mapa said the sustained increase in pump prices over the past two months poses the biggest risk to inflation in February.

“One possible risk for February is the price of oil because every week, oil prices are increasing. Those are the risks…But since we measure it year on year, we will look at whether those increases are higher than during the same period last year,” Mapa told reporters in a chance interview. Earlier this week, the Department of Energy (DOE) said global developments are driving the

By Lorenz S. Marasigan

THE Philippine Ports Authority (PPA) posted record revenues of P30.09 billion in fiscal year 2025, up 8.86 percent from the previous year, the agency reported Thursday.

Jay Santiago, the agency’s general manager, said the figure is the highest in the history of the PPA, eclipsing the previous record of P27.64 billion posted in 2024.

He added that the agency’s revenues have more than dou-

bled since 2016, when total revenues stood at P14.32 billion.

Santiago attributed the revenue growth to sustained increases in vessel traffic and cargo throughput, higher storage revenues, strengthened regulatory income following tariff adjustments, and gains from dollar-denominated tariffs.

Regulatory income has grown to P15.68 billion in 2024 from P6.82 billion in 2016.

“With its consistent upward revenue trajectory, PPA is wellpositioned to fund ongoing and

a weak end to last year, according to economists from the University of Asia and Pacific’s (UA&P).

The latest UA&P Market Call report projected gross domestic product (GDP) to expand by 3.3 percent in the first quarter of 2026, with full-year growth seen settling at 4.2 percent.

The updated outlook marks a notable shift from UA&P’s earlier projection that growth would exceed 5 percent in the first quarter and sustain that pace through the year.

Economists said the revision reflects

the incorporation of the weaker-thanexpected fourth quarter GDP data, which showed the economy slowing to 3 percent at the end of 2025.

Public construction plunged 41.9 percent in the final quarter, dragging gross capital formation down 10.9 percent and pulling full-year GDP to 4.4 percent—below the government’s target range.

“More indicators revealed the impact of the flood control scandal, hurting economic growth in 2025 as sentiment points through a “muddling through” scenario for 2026,” the report noted.

Despite the weak finish to 2025, UA&P expects the economy to register a slight pickup in the first quarter as inflation remains manageable and external demand

stays firm. The report noted that inflation is projected to stay within the lower half of the Bangko Sentral ng Pilipinas’s (BSP) 2- to 4-percent target range, providing a stable backdrop for household consumption.

“We anticipate that consumer activity—including household spending, home purchases, car sales, equipment leasing, and other interest-sensitive outlays—will improve in the first quarter,”

The Philippine Statistics Authority (PSA) earlier reported that headline inflation stood at 2 percent in January, while month-on-month price pressures remained subdued.

Data from the PSA showed that inflation in housing, water, electricity, gas, and

other fuels index climbed to 3.3 percent in January, accounting for nearly half—or 45.9 percent—of the overall inflation acceleration last month. With inflation remaining within target despite some upward pressure from utilities, the economists said monetary authorities still have room to ease policy to support growth.

In February, the BSP trimmed its key policy rate by 25 basis points to 4.25 percent, which the UA&P believes is a “well anticipated but much needed move.”

“The change to its “nearing the end of the easing cycle” angle to one of “uncertainty” and “confidence” will likely lead to further cuts as early as April,” the economists added. Justine Xyrah Garcia

TBy Ada Pelonia @adapelonia

HE National Food Authority (NFA) has eased its palay procurement rules to purchase more from local planters ahead of peak harvest season.

The NFA enabled “more flexible” buying standards after a recent meeting with stakeholders to review and update its standard operating procedures ahead of the surge in harvest.

The grains agency recalibrated what qualifies as dry palay by widening the acceptable moisture content range to 11 to 14 percent, from the narrower 12 to 14 percent benchmark that often led to rejected deliveries.

Such an adjustment allows

more farmers to meet the higher procurement price without being downgraded on technical grounds, the NFA said.

With further revisions including a refined pest standard now defined as “visibly free from pests,” the agency noted that fewer harvests would be rejected for minor or non-material defects.

NFA Administrator Larry Lacson said the initiative’s timing was deliberate: “As harvest peaks, prices tend to soften because of oversupply.”

“By widening our specifications now, we can absorb more volume and help farmers avoid distress selling. Every percentage point we adjust in moisture tolerance can mean more bags accepted and more income in farmers’ pockets,” Lac-

son added.

The grains agency explained that for years, planters have complained that rigid procurement rules pushed them toward private traders offering lower farmgate prices but quicker cash.

“The revised standards aim to make the NFA a more accessible and competitive buyer while preserving grain quality and rebuilding buffer stocks.”

Despite certain changes, the NFA maintained its buying price at P17 per kilo for fresh or wet palay and P21 per kilo for dry.

For his part, Agriculture Secretary Francisco Tiu Laurel Jr. said the changes reflect a broader policy direction.

“This is about aligning procurement policy with the realities faced

by our farmers,” Tiu Laurel, who chairs the NFA Council, said.

“President Ferdinand Marcos Jr. has been clear. We want farmers to be profitable, not perpetually vulnerable to price swings. A food-secure Philippines starts with farmers who earn fairly from their harvest.”

The DA chief added that “smarter and more responsive” buying rules improve farmer incomes while also strengthening national food security by ensuring steady palay inflows into government stocks.

“For rice farmers, [the NFA’s move] could mean fewer rejected sacks, steadier demand from a government buyer, and a more predictable income stream at the very moment supply is at its highest.”

By Justine Xyrah Garcia

at…

subordinated debt, down to P2.651 billion as of end-December 2025 from P8.129 billion.

Meanwhile, John Paolo R. Rivera, Philippine Institute for Development Studies (PIDS) Senior Research Fellow, said the growth in the assets of the Philippine banking sector suggests “banks remain wellcapitalized and able to intermediate funds to productive sectors.”

“This likely reflects continued expansion in lending and investment portfolios, supported by still moderate interest rates and improving credit demand from households and firms,” Rivera said.

The senior research fellow of the state think tank also noted that banks benefited from valuation gains in financial assets, higher deposits and liquidity inflows from remittances and government spending toward yearend, as well as balance sheet positioning ahead of expected credit and investment recovery in 2026.

However, Rivera pointed out: “The key issue is asset quality and where lending is directed, whether toward consumption or investment, as this will determine how strongly banking sector expansion translates into sustained growth.”

Hog production to recover in ’26, but imports risks cited

By Ada Pelonia @adapelonia

WHILEthe country’s hog output might rebound this year, local pork producers warned that the surge in imports may dampen repopulation efforts.

Agriculture Undersecretary Constante Palabrica expressed optimism that hog production will recover in 2026, owing to government interventions that curbed the spread of African swine fever (ASF).

Government data showed that the country’s swine inventory stood at 8.79 million heads in 2025, a slight increase from the 8.75 million heads in the previous year.

“The rebound is possible this year because we’ve minimized the transmission of the disease through the deployment of various checkpoints,” Palabrica told reporters on the sidelines of the International Farmers Summit 2026 in Pasay City on Thursday. In 2024, the Department of Agriculture deployed several livestock

checkpoints across Luzon to curb the spread of ASF following the disease outbreak in Batangas.

This, as the agency suspected that the outbreak was exacerbated by “unscrupulous hog traders selling diseased pigs.”

While National Federation of Hog Farmers Inc. (NatFed) Vice Chairman Alfred Ng seconded the potential increase in local swine population this year, he cautioned against the continued entry of foreign pork shipments.

Ng attributed the likely increase in production to the allocated budget for repopulation efforts, but worried that this would be blunted by imports that prompt the local sector to sell at a loss.

The DA earlier allocated P1.6 bil-

lion for hog repopulation efforts, which will be used to procure finishers and gilts for distribution to the local swine sector.

“You’ll be given gilts [by the government], but the importation persists. Currently, all farmers are incurring losses because we’re selling below production costs,” he said.

“Even with the gilts, I can’t increase my hogs because I’m already at a loss. This is the first time we’ve seen this in January, because there’s usually a spillover [demand] from December.”

Ng said it was the “first time in history” that liveweight prices of hogs fell by P30 per kilo in January, a time when prices tend to increase.

He further lamented that pork imports are being sold in institutional markets like karinderya,

leaving wet markets or palengke as the sole market for fresh pork.

In 2025, government data showed that pork imports leaped to a record 851,760 metric tons (MT), from 733,729 MT in the previous year.

To remedy this, Ng urged the DA to limit the entry of foreign pork shipments as it currently does with rice imports.

“The DA should limit pork imports, reducing it by half to around 400,000 MT from the over 800,000 MT last year,” he said. “The imports should only be for processors.”

Based on Bureau of Animal Industry (BAI) data, 19 barangays in 15 cities or municipalities have active ASF cases as of February 20.

The DA continues to inoculate pigs against ASF under a government-controlled vaccination.

Open on the Women Tennis Association 125 circuit.

Last September, when the country hosted FIVB Volleyball Men’s Championship, visitor arrivals dipped to 405,583 from 503,453 in August. Arrivals in September 2025 also fell by 7.2 percent, yoy. Tourism Secretary Christina Garcia Frasco said in a news statement then: “The Philippines’s hosting of this global volleyball event bolsters our sports tourism portfolio, driving economic growth, and highlighting the country’s diverse array of tourism offerings that promise a truly unforgettable Philippine Experience.” In August and September 2023, when Manila hosted the FIBA World Cup, there were marked month-on-month decreases in visitor arrivals to 437,648 and 382,346, respectively, from a peak of 516,304 in July.

Barriers to travel AMONG the top barriers to sports leisure travel, the YouGov survey indicated were: cost of travel expenses (60 percent), cost of event

upcoming port infrastructure projects aimed at enhancing trade facilitation, improving logistics efficiency, and supporting tourism growth,” Santiago said.

With the surge, the agency’s board of directors approved its largest-ever dividend remittance of P5.33 billion, equivalent to 52 percent of net earnings for the fiscal year.

The remittance complies with

uptick in oil prices.

Among the key factors are escalating tensions between the United States and Iran, including naval drills conducted by Iran in the Strait of Hormuz—one of the world’s most critical oil transit chokepoint—alongside joint exercises with Russia and China.

The ongoing Russia–Ukraine conflict also continues to weigh on global energy markets, as sanctions and supply uncertainties affect oil flows.

These global pressures have pushed local pump prices higher year to date, with diesel increasing by P8.20 per liter, kerosene by P6.20, and gasoline by P4.90. Diesel and kerosene prices have risen for nine consecutive weeks, while gasoline has posted seven straight weeks of increases.

Ateneo de Manila University (ADMU) economist Luis F. Dumlao agreed with Mapa’s observation, saying these developments could push inflation higher in February.

“Inflation will pick up from January to February. The increase in price of oil $62 to $68 [per barrel] in February will contribute to that,” Dumlao told the BusinessMirror

In January, the headline inflation stood at 2 percent, faster than the 1.8 percent recorded in December 2025, but still slower than the 2.9 percent posted in

Republic Act 7656, which requires government-owned and -controlled corporations to remit at least 50 percent of their annual net income to the national government. “This is a reflection of our commitment to modernizing our ports, strategic reforms, and the collective effort of PPA employees and stakeholders,” Santiago said.

January 2025. The Philippine Statistics Authority (PSA) earlier said nearly half—or 45.9 percent—of January’s inflation acceleration was driven by the housing, water, electricity, gas and other fuels index, which climbed 3.3 percent. Electricity prices rose faster at 6.5 percent from 4 percent in December, while rentals increased to 2.9 percent from 2.4 percent.

A slower decline in liquefied petroleum gas (LPG) prices also contributed, with inflation easing to -2.8 percent from -5.1 percent previously.

Despite the projected pickup, Dumlao said inflation is still likely to remain within the lower end of the Bangko Sentral ng Pilipinas’s (BSP) 2- to 4-percent target range.

He noted that oil prices remain significantly lower than in February 2025, when crude traded at around $78 per barrel.

Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera told this newspaper that the initial impact of oil price passthrough “should already be feeding into February and March inflation, particularly in transport and logistics-heavy goods” Beyond transport, Rivera said commodity groups most vulnerable this quarter include food items such as fish, meat and vegetables due to higher distribution and cold storage costs; electricity and utilities, where fuel inputs affect generation charges; and manufactured food and basic consumer goods that depend on fuel for both production and delivery.

Second-round effects

DE LA SALLE UNIVERSITY (DLSU) economist Maria Ella C. Oplas said that while the impact may not be immediate, rising oil prices are likely to spill over into the broader commodity basket, particularly food and non-alcoholic beverages. She explained that higher oil prices first raise transportation

and production costs, as fuel is a key input in moving goods and operating machinery.

As transport costs climb, Oplas said fare increase petitions often follow. Higher commuting expenses will then raise pressure for wage adjustments as workers try to offset rising daily costs. This creates additional strain on businesses, which may either absorb the higher expenses or pass them on to consumers through price increases.

“They either produce less [cost minimize] or transfer the burden to consumers by raising prices. So the effect to prices may not be immediate but it will definitely increase prices for food and non-alcoholic food,” Oplas told the BusinessMirror In January, PSA reported that inflation for food and non-alcoholic beverages eased to 1.1 percent, slower than the 1.4 percent recorded in December 2025 and significantly lower than the 3.8 percent posted in January 2024. Food inflation likewise moderated, declining to 0.7 percent from 1.2 percent in the previous month. A year earlier, food inflation stood at 4 percent.

Oplas said these so-called secondround effects could begin to surface as early as late March or early April.

Rivera added that the impact may extend beyond goods, potentially affecting services such as dining, delivery and tourism-related transport.

“If oil price pressures persist, services such as dining, delivery, and tourism-related transport may also begin to reflect cost adjustments, creating mild but broader secondround inflation pressures,” he added.

The BSP earlier said the inflation outlook remains “manageable,” although it acknowledged that forecasts have edged up slightly due to what it described as temporary supply-side pressures.

At its first policy meeting for 2026, the BSP raised its average inflation outlook for the year to 3.6 percent from 3.2 percent in December.

“Nevertheless, inflation expectations remain firmly anchored, and inflation is seen to return close to the 3 percent target by 2027,” it added.

www.businessmirror.com.ph

‘Your rights end when violence begins’

By Rex Anthony Naval

National Police (PNP)

HE

Ton Thursday maintained that it was only doing its duty when it arrested two persons following a clash with the authorities during the commemoration of the 40th anniversary of the People Power Revolution in Quezon City on Wednesday.

“Our protocols are clear: we exercise maximum tolerance. However, when our personnel are physically assaulted or when the safety of the public is at risk, we must act to restore order,” the PNP Chief, Gen. Jose Melencio Nartatez Jr., said in a statement.

He also maintained that responding police officers only used the minimum amount of force necessary to subdue the individuals and prevent further injury to both the protesters and police personnel.

Two protesters, a man and a woman, both of legal age, were arrested for allegedly hurling stones at police officers and disrupting traffic on the southbound lane of Epifanio de los Santos Avenue leading to Edsa Shrine during the

anniversary rites.

Nartatez also clarified that policemen on the ground were not preventing the rally from proceeding and had only requested that protesters limit their occupation to one lane to avoid snarling traffic.

At least three police officers suffered minor injuries from the incident.

The two arrested individuals face charges for direct assault, resistance and disobedience to a person in authority, alarm and scandal, and violation of the Public Assembly Act.

Police said these persons belonged to a group that did not secure a permit for the activity.

Addressing criticism from some sectors that the arrests violated human rights, Nartatez maintained that the PNP respects the right to free speech and peaceful assembly of the public.

“Your rights end when violence begins. Human rights do not include the right to assault police officers or cause a public disturbance. We are not arresting them for their beliefs. We are arresting them for specific violations of the law,” he said.

US Air Force plane in Pangasinan mishap

THE Armed Forces (AFP) on Wednesday night confirmed that a US Air Force C-146 “Wolfhound” light cargo plane got involved in an accident while participating in a joint roadway landing exercise in Laoac, Pangasinan, on February 24.

The light plane based on the Dornier 328 turboprop airliner, landed on the road strip in Laoac, Pangasinan without incident but is said to have ‘swerved’ while attempting to take off.

“All pilots and crew were immediately accounted for and are safe. No civilians were injured,” the AFP said in a statement.

Other reports said three needed hospitalization while two were treated for injuries on site.

The AFP did not provide other details concerning the accident.

“The activity [joint roadway landing exercise was conducted in a controlled training environment as part of ongoing efforts to enhance interoperability and preparedness for humanitarian assistance, disaster response, and national defense operations,” it said. It also added that the incident is currently under investigation.

“Mishap,” A11

Customs, Navy foil ₧180-M cigarette smuggling attempt

By Reine Juvierre S. Alberto @reine_alberto

THE Bureau of Customs (BOC)

foiled a suspected maritime smuggling attempt of illicit cigarettes worth P180 million on the Celebes Sea on February 24.

In a statement on Thursday, the BOC said the operation led to the seizure of about 3,000 master cases of illicit cigarettes estimated at less than P180 million, based on initial inventory and assessment.

The BOC said the interception was prompted by intelligence reports on suspicious movements of a bulk carrier conducting cargo transfers at sea.

Denials mount vs claims of ‘marines’

By Jovee Marie N. dela Cruz @joveemarie

CURRENT and former lawmakers on Thursday dismissed the circulating “unsigned affidavit” linked to allegations by the so-called 18 former ‘marines’ as a fabricated story intended to smear reputations.

House Deputy Minority Leader Leila de Lima on Thursday released a statement rejecting as entirely fabricated the allegation made by lawyer Levi Baligod that she received kickbacks from flood control projects.

De Lima, the nominee of the party-list group Mamamayang Liberal, emphasized that, as the story unfolds, it is becoming clearer that the alleged delivery of cash bags by the so-called former soldiers to lawmakers was entirely fabricated.

“Whether it was in a suitcase, a paper bag, or anything else, it’s clearly fabricated. Their story immediately became convoluted because of outright lies and attacks against me. Baligod is playing fast and loose with his license to practice law,” she added.

Court orders arrest of Iloilo official for

cyberlibel

AIn a radio interview on Thursday, Baligod acknowledged that he may have erred in naming de Lima among the lawmakers who supposedly received suitcases of cash, noting that she had not yet been elected when the alleged deliveries took place. De Lima only assumed office as a congresswoman on June 30, 2025.

Formalize claims

FOR his part, former Surigao del Norte Rep. Robert Ace Barbers on Thursday challenged Baligod and the individuals he represents to formalize their claims with proper signatures and notarization before asking the public to take their accusations seriously.

“To Attorney Levi Baligod: If your clients’ claims are true and you stand by their statements,

have them sign their affidavit and have it notarized so it doesn’t look like a script from a barangay drama skit. Sign it,” Barbers, lead chairman of the Quad Committee during the 19th Congress, said.

“You should have known from the start that an unsigned affidavit is just a scrap of paper. As their lawyer, you should have been diligent and thorough enough to assist them by having it signed and notarized, so people would see you as a genuine crusader and not just an ‘ambulance chaser,’” he added.

House leaders and three former Makabayan bloc lawmakers described the allegations as a “diversionary tactic,” questioning why such an “unsigned statement” surfaced amid developments involving former President Rodrigo Duterte’s International Criminal Court proceedings and Vice President Sara Duterte’s pending impeachment case.

Barbers highlighted the credibility gap, urging the accusers to formally own their claims in a way that can be tested, contested, and weighed through proper legal channels, noting that allegations of this magnitude carry serious consequences for reputations and institutions.

“Are you all afraid of the legal consequences from the people you accused? Is that why you opted not to sign?” Barbers asked.

“Your script is stale. This is

just a zarzuela to tarnish people’s names,” he continued.

The former lawmaker also questioned the motives of the men presented as former Marines, implying their public posture appeared more like a paid operation than a principled stand.

What pay-off?

NATIONAL Security Adviser (NSA) Eduardo Año on Thursday denied allegations that he received a “paper bag” after meeting with fugitive former Party-list Rep. Zaldy Co of Ako Bicol and other political figures as claimed by 18 alleged Marines.

“I categorically reject and denounce the malicious, unsigned affidavit purportedly from 18 exMarines accusing me of receiving a paper bag after a meeting at the Polo Club townhouse,” he added. These “Marines” also claimed to have delivered money to President Marcos, former Speaker Ferdinand Martin Romualdez, and other ranking government officials. Likewise, Año said he never attended any meeting with Romualdez, Co and Party-list Rep. Leila de Lima of Mamamayang Liberal in the Polo Club townhouse or in any other location “nor did I receive any paper bag or package from them.” He added: “These claims are entirely false and fabricated.”

This triggered heightened surveillance and coordination with the Department of National Defense (Philippines) and the Navy’s Western Mindanao Naval Command, the BOC added. Authorities later located and boarded the vessel around 52 nautical miles west of Kalamansig Port in Sultan Kudarat. Upon boarding, the Customs and Navy personnel found thousands of cigarette cases without valid supporting documents for lawful importation, with the vessel’s foreign crew unable to confirm the legitimacy of the cargo.

By Joel R. San Juan @jrsanjuan1573

WARRANT of arrest has been issued against an official of the Iloilo provincial government who was charged with two counts of cyber libel for allegedly maligning former Iloilo City mayor Jerry Treñas.

The arrest order was issued by Judge Judita Patriarca Nafarrete of Branch 38 of the Regional Trial Court in Iloilo City against Jose Nereo Lujan, head of the Public Information and Community Affairs Office (Picao) of the Iloilo Provincial Government.

Lujan is also an incoming committee member of the National Commission for the Culture and the Arts (NCCA) but has yet to take his oath of office.

Lujan has posted P48,000 for each count to secure his temporary liberty.

Prosecutor Caryl Kate FabellaGenova III earlier found sufficient evidence to indict Lujan for cyber libel for his earlier Facebook posts against Treñas.

Genova also denied Lujan’s motion for reconsideration seeking the dropping of charges against him.

The case stemmed from the eight counts of cyberlibel filed by Treñas against Lujan for allegedly damaging his reputation.

In her resolution, Fabella-Genova said Lujan’s posts were intended to embarrass Treñas by claiming that the former mayor was a “leading traffic violator,” supposedly citing an upset stomach as an excuse to get out of a gridlock.

The prosecutor also mentioned another post by Lujan claiming that Treñas “could not go to heaven,” accompanied by a picture of the mayor.

Out of the eight counts of cyber liber, the trial court found basis to issue arrest warrants only for two counts.

Western Visayas export roadmap targets global markets by 2028

By Bless Aubrey Ogerio

WESTERN Visayas is positioning itself as a more competitive export hub under a new three-year plan crafted by the Trade department to unify provincial strategies and widen global market access for local businesses.

The Department of Trade and Industry (DTI) in Region 6 said it has completed the Western Visayas Export Development Roadmap for 2026 to 2028, following a multi-sector workshop held in Iloilo City.

The plan seeks to align provincial economic priorities under a single regional export strategy. DTI said the roadmap is designed to help micro-, small-, and medium-sized enterprises address gaps in export readiness and give

Group calls for amendments to National Building Code

By Rizal Raoul Reyes @brownindio

ADVOCACY group CitizenWatch Philippines on Wednesday urged the Senate to amend the National Building Code, arguing that broadband connectivity should be a mandatory standard in all new construction.

Former Quezon City Rep. Christopher Belmonte, the co-convener of the group, said digital infrastructure provisions must be included into the Senate measure to be aligned with the government’s initiatives for inclusive internet connectivity.

“We fully support efforts to modernize the National Building Code,” Belmonte said. “But the pending Senate bill must go further. It must clearly require mandatory digital infrastructure provisions both in new and existing buildings. Otherwise, we are reforming for safety but ignoring connectivity, which is now just as essential.”

Belmonte said internet access should be treated as a basic utility and be able to meet the needs of the digital environment.

“Internet connectivity is now an indispensable tool. It is a basic human right in a digital economy,” he said. “A building without reliable internet and mobile signal is like a building with plumbing but no water supply. It limits opportunity.”

Belmonte said CitizenWatch is pushing for the Senate measure to include mandatory in-building physical infrastructure such as dedicated risers, pathways, and equipment spaces, as well as fiberoptic cabling capable of supporting

high-capacity and high-speed requirements. Further, the group also wants provisions requiring strong indoor mobile signals, including inbuilding solutions in high-rise and high-density developments.

“Connectivity must be accessed wherever the user is,” Belmonte said. “We can build cell towers across the country, but if signals die at the walls of condominiums, offices, or malls, the last mile collapses. That is where many Filipinos live and work.”

Meanwhile, the group is also pushing for a “zero lease” or fairaccess policy to prevent excessive charges on telecommunications providers for installing facilities inside buildings.

“Building owners should not impose unreasonable lease fees that ultimately raise costs for consumers,” said Belmonte. “The law must ensure fair, non discriminatory access and prevent exclusive arrangements that limit a resident’s choice of provider.”

Belmonte emphasized that future-proofing buildings by design would prevent expensive retrofits later.

“Buildings constructed today will stand for 50 years or more,” he said. “If we fail to embed fiberready and telco-ready standards now, we are locking in decades of avoidable digital gaps.”

He added that stronger inbuilding connectivity would directly support national programs such as the National Broadband Program and Free Wi-Fi for All.

“Government can invest billions in backbone infrastructure, but if buildings are not ready to

them more direct access to international markets.

Under the roadmap, each province identified priority products and target markets. Aklan aims to scale up exports of nito and piña crafts to Europe and Japan, while Guimaras is focusing on expanding shipments of its mangoes.

Iloilo and Capiz are prioritizing premium seafood and organic products, while Antique is shifting its coco-based goods and muscovado sugar toward the organic export market.

To cut red tape, the department plans to roll out a “Western Visayas Global Brand” and establish a Regional Export One-Stop Shop, or ROSS, to consolidate export-related documentation and processes.

An e-Export Academy will also

be launched to train entrepreneurs in digital marketing and online sales. At the same time, the strategy will tap the Visayas Container Terminal in Iloilo to reduce shipping costs.

The DTI said consolidated freight services are expected to lower regional logistics expenses by about 15 percent.

The finalized roadmap is set to be presented to the Regional Development Council by mid-2026.

A specialized task force will also be formed to oversee implementation and drive income growth for exporters through 2028.

Latest data from the Department of Economy, Planning, and Development (DepDev) in Region 6 showed that Western Visayas posted $69.71 million in exports in the third quarter of 2025, up

16.09 percent from $60.05 million a year earlier.

Imports, meanwhile, during the period rose 8.45 percent to P9.24 billion from P8.52 billion in the third quarter of 2024.

Coal in bulk dominated the region’s export basket in the third quarter at $68.31 million, followed by smaller shipments of used equipment, spare parts, used excavators, and specialty agricultural products.

On the other hand, the top imports were rice, fertilizers, coal, Portland cement, and yellow corn.

The regional development office said external trade is expected to remain resilient, supported by the export gains recorded in the third quarter and improved container handling at the Iloilo port.

Congressmen eye housing rental subsidy for squatters

By Jovee Marie N. dela Cruz @joveemarie

LAWMAKERS have proposed the grant of a monthly rental housing subsidy for millions of squatters or informal settler families (ISFs).

Leyte Rep. Ferdinand Martin G. Romualdez’s proposal is contained in House Bill 7230, of which Tingog Party-list Rep. Jude Acidre is also a principal author. Titled the Rental Housing Subsidy Program Act, the measure seeks to provide temporary financial assistance to ISFs to help them access formal housing.

Romualdez said the program would strengthen social protection by enabling displaced and low-income families to secure safe rental housing under the Department of Human Settlements and Urban Development (DHSUD).

He added that the subsidy may be used for temporary relocation owing to natural or man-made disasters, offering a flexible safety net while permanent housing solutions are being developed. The assistance would also improve access to employment and education opportunities for beneficiary families.

Acidre cited the Constitution’s

ASTRONGER push for labor protections and economic security for journalists is gaining ground in Congress, with two lawmakers calling for the passage of the proposed Media Workers’ Welfare Act to address long-standing employment vulnerabilities in the industry.

Camarines Sur Reps. Luigi Villafuerte and Migz Villafuerte said improving wages, benefits, and job security for media workers is just as critical as safeguarding them from threats and violence— an approach that aligns with the recent call of the Commission on Human Rights for broader protections to ensure a truly free press.

“Government should put a premium on both protecting journalists and improving their welfare,”

mandate for the State to undertake a continuing program of urban land reform and housing that provides affordable shelter and basic services to underprivileged and homeless citizens.

Under HB 7230, ISFs are defined as households occupying land without legal consent or claim, or those living in high-risk areas such as along waterways and railroad tracks, and garbage dumps.

The bill provides a monthly rental subsidy of up to P3,500 for eligible families in Metro Manila. For other regions, subsidy levels will be determined by the DHSUD in coordination with the Department of Economy, Planning, and Development (formerly National Economic and Development Authority or Neda), based on regional wage levels and prevailing rental rates, without exceeding the P3,500 cap. The subsidy shall not exceed the actual rental amount.

The DHSUD and DepDev may review subsidy levels based on economic conditions, but not more frequently than once every two years.

Eligible beneficiaries will receive assistance until the completion of their designated per -

manent housing project or their actual relocation to such housing, whichever comes first. If project completion is delayed, the implementing agency will shoulder the cost of extended assistance.

To qualify, beneficiaries must vacate their current informal settlements and relocate to safer, government-authorized areas. Continued eligibility requires beneficiaries to refrain from returning to their former locations without authorization and to pay any portion of rent not covered by the subsidy.

Families who maintain good payment standing will be prioritized for government housing programs.

The measure also outlines the roles of key government agencies, including the National Housing Authority, Presidential Commission for the Urban Poor, Department of Social Welfare and Development, Home Development Mutual Fund, and Technical Education and Skills Development Authority.

The DHSUD, in coordination with concerned agencies, will issue implementing rules and regulations within six months from the law’s effectivity.

Ciac signs deals on heritage, food logistics projects

By Ashley J. Manabat

CLARK FIELD, Pampanga—Clark International Airport Corporation (Ciac) has signed two agreements to advance heritage conservation and modernize food logistics within the Clark Civil Aviation Complex.

The memoranda of understanding were signed February 24 at the Clark Aviation Capital Picnic Grounds with the Philippine Association of Landscape Architects (Pala) and South Korea-based Future iNet Co., Ltd. (FIN).

Under the agreement with Pala, Ciac will pursue elements of its Urban Renewal and Heritage Conservation Program, which aims to integrate landscape planning and environmental management into Clark’s development as an aviation and logistics hub.

The program includes creating a unified and sustainable landscaping framework to enhance public spaces while preserving historical and cultural elements within the estate.

Ciac said the initiative is designed to promote greener, more accessible surroundings for workers, residents, and visitors, while supporting environmental measures such as heat mitigation, stormwater management, and improved air quality.

The partnership with FIN focuses on conducting technological studies for a Cold Chain Bonded Logistics Depot system under the proposed Clark National Food Hub.

The project is intended to strengthen temperaturecontrolled storage and distribution systems, reducing food spoilage and improving supply chain efficiency.

Ciac President and Chief Executive Officer Jojit Alcazar said the agreements are “key steps” toward implementing the Urban Renewal and Heritage Conservation Program and the Clark National Food Hub project.

“By preserving Clark’s historical and cultural elements, the initiative strengthens collective memory and local pride, ensuring that development remains rooted in heritage rather than erasing it,” Alcazar said.

said Luigi Villafuerte. Migz Villafuerte emphasized that economic insecurity, contractual employment, and hazardous working conditions continue to undermine media independence.

House Bill 1985 seeks to institutionalize labor standards for journalists by guaranteeing minimum wage compliance, overtime and night shift pay, hazard compensation, and mandatory insurance coverage. The measure also aims to grant media workers security of tenure by classifying them as regular employees after six months of cumulative service.

Lawmakers said the bill builds on a similar measure previously approved by the House of Representatives of the Philippines in

the 19th Congress but left unenacted after the Senate failed to pass a counterpart version.

Under HB 1985, media workers would receive mandatory coverage under the Social Security System, Home Development Mutual Fund, and Philippine Health Insurance Corporation, along with additional insurance benefits for death, disability, and medical expenses arising from workrelated risks.

The measure also proposes hazard pay of at least P500 per day for journalists assigned to dangerous or disaster-stricken areas, as well as, the creation of a News Media Tripartite Council under the Department of Labor

The cold chain initiative is expected to support farmers by reducing postharvest losses and improving market access, while helping businesses streamline logistics operations.

Ciac said enhanced cold storage and customs supervision systems could also contribute to a more stable food supply and pricing.

The agency added that the agreements are part of broader efforts to position Clark as a center for sustainable and inclusive growth, combining infrastructure development with environmental stewardship and technological innovation.

Palace denies Marcos link to ₧805-B flood funds, calls it an effort to oust President and discredit ICC

By Samuel P. Medenilla @sam_medenilla

MALACAÑANG slammed the attempts of ex-congressman

Michael “Mike” T. Defensor to oust President Ferdinand Marcos by linking the Chief Executive to the alleged misuse over P800 billion worth of flood control project funds.

“Many of his speeches encourage our countrymen to remove our President from office. We already know the motive,” Palace

DENR urged to reconsider mangrove earth-balling and relocation policy or flagship infra projects

By Jonathan L. Mayuga @jonlmayuga

THE Global Mangrove Alliance—Philippines is calling on the Department of Environment and Natural Resources (DENR) to withdraw or revise its policy that permits earth-balling and the relocation of mangroves to clear the way for flagship projects.

Specifically, the group is calling out Memorandum dated October 8, 2025, titled “Interim Operational Guidance and Conditions on the Earth-Balling and Relocation of Mangroves in Exceptional Circumstances.”

While the memorandum claims that mangroves should not be removed or disturbed, it introduces a dangerous loophole, the group said, because it allows the earth-balling and relocation of mangroves for infrastructure “flagship projects” endorsed by government authorities, once proponents claim that all other mitigation measures have been exhausted.

According to the group, such a policy is deeply alarming, insisting that mangroves are not movable infrastructure.

“They are complex, living ecosystems that serve as natural storm barriers, prevent coastal erosion, support fisheries, store vast amounts of blue carbon, and sustain the livelihoods of coastal communities. Scientific evidence consistently shows that earth-balling and relocation of mangroves result in extremely low survival rates, irreversible damage to root systems, biodiversity loss, and permanent degradation of ecosystem services. Mangroves are complex, interdependent ecosystems that cannot simply be moved without catastrophic ecological consequences. Removing mangroves, even temporarily, can trigger long-term ecological and economic harm,” the group said in a statement sent to the media.

The group noted that the memorandum’s definition of “exceptional circumstances” is dangerously broad.

“Allowing exemptions for infrastructure projects creates a clear pathway for mangrove removal across the country, particularly in ecologically sensitive coastal areas. If left unchallenged, this interim guidance risks becoming standard operating procedure across DENR regional offices, effectively rolling back decades of mangrove protection policy in the Philippines,” they said.

According to the group, mangroves are not obstacles to development, and are, in fact, frontline defenses against climate change, irreplaceable natural infrastructure for disaster risk reduction, and essential to food security and community resilience.

“If mangroves are removed, it is the people, especially the coastal dwellers—not large infrastructure proponents—who will bear the long-term consequences of degraded mangrove cover: intensified flood risk, reduced fish catch, loss of livelihoods, and diminished coastal resilience in the face of worsening climate impacts.”

Allowing the relocation of mangroves for short-term economic gain contradicts the principles of sustainable development and environmental stewardship, the group stressed.

In withdrawing or substantially revising its assailed policy, the group urged the DENR to remove the infrastructure project exemption that authorizes mangrove earth-balling and relocation, as it has no sufficient scientific basis and poses grave risks to coastal ecosystems and communities.

It also called on the DENR to uphold the strongest science-based protections for mangrove ecosystems consistent with the precautionary principle, the State’s climate commitments, and the rights of coastal communities to a healthy environment.

Press Officer Claire Castro said in Filipino in a press briefing last Thursday.

She said among the probable motives of Defensor is to help discredit the credibility and integrity of the International Criminal Court (ICC) as it conducts the pre-trial hearing of former President Rodrigo R. Duterte for his alleged crimes against humanity when he allowed the killing of drug suspects during his term of office.

They claimed some of the funds were used as bribes to ICC investigators, who were looking into the case of Duterte.

“Whatever their motives, it

probably [involves] discrediting and stripping the ICC of its credibility and integrity, but we are more concerned about the lies they are hurling at our President,” Castro said.

Defensor is involved in the allegations made by some former soldiers who claimed they delivered P805 billion of flood control project funds to Marcos, former House Speaker Ferdinand Martin G. Romualdez, and former congressman Elizaldy “Zaldy” Co. Castro called Defensor as “Ador Mawanay 2.0” since he likened him to a person who is allegedly coerced to make false statements.

Angelo “Ador” Mawanay accused Senator Panfilo “Ping” M. Lacson of being involved in the kidnapping and murder of publicist Salvador “Bubby” Dacer and his driver Emmanuel Corbito while he the lawmaker was still chief of the Philippine National Police (PNP).

The PNP and the National Bureau of Investigation (NBI) later dismissed the claims of Mawanay as unreliable.

In a statement, Defensor accused Castro of trying to divert the issue involving the President by calling him names.

Mayoral bet files disbarment case vs Comelec officials

By Mary Jade Jadormio

AMAYORAL candidate in Mapandan, Pangasinan has filed a disbarment case against six of the seven members of the Commission on Elections (Comelec) over the dismissal of his petition for disqualification in the 2025 national and local elections.

In a statement, Comelec said Jaime Gutierrez Aquino initiated the complaint following the Commission En Banc’s decision junking his petition.

The poll body said Aquino earlier filed a Complaint-Affidavit for Criminal and Disqualification before the Comelec Law Department.

The complaint was later referred to the office of the clerk of

the commission and treated as a Petition for Disqualification.

The Comelec said the case was acted upon by the Commission En Banc based on the documents submitted.

However, it was dismissed for failure to comply with mandatory requirements.

Among the deficiencies cited were the absence of proof of payment of docket fees, lack of proof of service of the petition with complete annexes, and the noninclusion of the respondents’ certificates of candidacy.

“A Petition for Disqualification is not a mere complaint for an election offense which does not require the payment of docket fees,” the Comelec said.

It explained that such petition

THE Commission on Elections (Comelec) is requesting a P100 million standby fund to ensure it can fully implement the reset of Bangsamoro parliamentary elections following structural changes introduced by the regional parliament.

In an interview at the House of Representatives, Comelec

Chairman George Erwin M. Garcia said the commission did not anticipate the revisions affecting districts and sectoral representation.

“Comelec did not expect these changes in the Bangsamoro,” Garcia said.

He explained that under the new setup, sectoral organizations will now be directly elected by voters instead of being chosen through assemblies, significantly affecting ballot preparation and logistics.

“The so-called sectoral organizations, instead of holding assemblies for each sector, will now be directly elected by the people,” he said.

Garcia added that all previously accredited political parties and sectoral organizations will have to undergo fresh accreditation.

The poll body chief said the changes could lead to longer ballots or even the issuance of separate ballots to avoid confusion among voters.

“It would be better to separate them so voters can focus on one and also focus on the sectoral organizations,” Garcia said.

He clarified that the P100million allocation will remain on standby and will only be used if necessary.

“We may not even tap that un -

He said the Palace Press Officer should be careful when it comes to issuing statements, since she represents Malacañang. “Her words and posturing must be sober, precise, and statesmanlike,” Defensor said. The former lawmaker also challenged the Palace to urge Congress to conduct a probe on the allegations made by the former soldiers against the President and other government officials.

is considered a Special Action Case that warrants observance of procedural rules laid down by the Commission.

“If it was merely an election offense complaint, the same would not have been dismissed altogether as the requirements for the docket fee is not wanting,” it added.

The poll body also said it recognizes the risks associated with performing its duties in accordance with the law.

“In recognizing the primacy of the Rule of Law and Due Process, the Commission En Banc shall remain unfazed and be steadfast in the continuation of performance of its Constitutional mandate without fear or favor,” the Comelec said.

Comelec seeks ₧100M standby fund for BARMM parliamentary polls reset

less we request and actually use it. It will remain on standby,” he said.

Garcia noted that Congress had already restored around P1.2 billion to cover expenses incurred for the October 2025 Bangsamoro elections that did not push through.

“Whatever Comelec spent was returned to us,” he said.

With the restoration, the P3.02 billion allocation for the parliamentary polls remains intact, with the requested P100 million serving as a contingency buffer should additional expenses arise from the reset.

Garcia said adequate funding is necessary to ensure teachers receive proper honoraria, election materials are deployed on time and voters are able to cast their ballots smoothly on election day.

Mary Jade Jadormio

Davao City journalist asks ICC to strike down prosecutor’s video on drug killing

By Manuel T. Cayon @awimailbox

AVAO CITY—A journalist here has asked the International Criminal Court (ICC) to take down the video footage of a killing of a suspected illegal drug offender here, which was among the video footages presented by prosecutors during the confirmation of charges hearing early this week at the ICC in The Hague, The Netherlands. Ben Jason Tesiorna, who wrote then for a local newspaper here, executed a notarized affidavit of denial on Thursday to claim ownership of the video he posted on social media in 2013 and which he claimed was used in the ICC confirmation hearing “already tampered” and “misrepresented the context of the footage.” He said he executed the affidavit because the broadcast has put him and his family at risk and damaged his reputation “by creating the impression that he collaborated with the prosecution.”

See “ICC,” A10

“If they are serious about the issue of corruption, what they should do is encourage the Senate Blue Ribbon Committee, the House Committee on Good Government, and the Ombudsman to conduct a full and impartial investigation into the Marines’ testimonies,” Defensor said.

Watchdog warns consumers against ‘lipsticks’ use

ATOXIC chemicals watchdog group warned the public on Thursday about the presence of toxic chemicals such as mercury, lead, and cadmium in cheap lipsticks sold in local markets in Metro Manila cities.

The group said cheap lipsticks with prices ranging from P50 to P70 per piece, sold by beauty shops and ambulant vendors in Caloocan, Malabon, Manila, Marikina, Pasay, Pasig, Pateros, and Taguig, were found to contain toxic chemicals.

The items have no market authorization from the Food and Drug Administration (FDA), the group added The group managed to purchase 45 matte lipstick samples to assess their compliance with health and safety standards, including the presence of toxic chemicals.

Some of the products had incomplete or missing labeling information, raising concerns about the possible presence of hazardous substances. Notably, nine lipsticks listed propylparaben and methylparaben on their labels.

Using a Vanta C Series Handheld XRF Analyzer, the group tested the samples and discovered the presence of lead at levels of up to 120 parts per million (ppm), mercury up to 280 ppm, cadmium up to 114 ppm, and arsenic up to 36 ppm. All the samples contained three to four different hazardous substances, far exceeding the limits set by the ASEAN Cosmetics Directive under the ASEAN Guidelines on Limits of Contaminants for Cosmetics.

Citing the World Health Organization, BAN Toxics highlighted that lead exposure remains a serious global health threat. It is linked to approximately 1.5 million deaths annually, primarily from cardiovascular disease, and causes irreversible neurological and

See “Lipsticks,” A10

Iran slams Trump’s threats ahead of Geneva talks in face of major US military deployment

By Jon Gambrell The Associated Press

DUBAI, United Arab Emirates—Iran pushed back Wednesday against US President Donald Trump’s pressure tactics ahead of critical talks in Geneva over Tehran’s nuclear program, alternating between calling his remarks “big lies” and saying negotiations may yield an agreement through “honorable diplomacy.”

The remarks by two Iranian officials came a day before the talks and as America has assembled its biggest deployment of aircraft and warships to the Middle East in decades. The buildup is part of Trump’s efforts to get a deal to constrain Iran’s nuclear program while the country struggles at home with growing dissent following nationwide protests last month.

Trump has repeatedly threatened to attack Iran if negotiations fail. Mid -

east nations fear an attack could spiral into a new regional war as the embers of the yearslong Israel-Hamas war still smolder. Already, Iran has said all US military bases in the Mideast would be considered legitimate targets, putting at risk tens of thousands of American service members.

Satellite photos shot Tuesday by Planet Labs PBC and analyzed by The Associated Press appeared to show the American vessels that typically are

docked in Bahrain, the home of the US Navy’s 5th Fleet, all out at sea. The 5th Fleet referred questions to the US military’s Central Command, which declined to comment. Before Iran’s attack on Qatar in June, the 5th Fleet similarly scattered its ships at sea to protect against a potential attack.

Iran responds to State of the Union speech

TRUMP touched on Iran and the nuclear negotiations in his State of the Union speech late Tuesday in Washington.

“They’ve already developed missiles that can threaten Europe and our bases overseas, and they’re working to build missiles that will soon reach the United States of America,” Trump said. “They were warned to make no future attempts to rebuild their weapons program, and in particular nuclear weapons, yet they continue. They’re starting it all over.”

Satellite photos analyzed earlier by the AP showed Iran beginning to rebuild its missile-production sites and doing some work at the three nuclear sites attacked by the US in June. Iran

has long maintained that its nuclear program is peaceful.

Secretary of State Marco Rubio told reporters Wednesday that Iran is “always trying to rebuild elements” of its nuclear program. He said that Tehran is not enriching uranium right now, “but they’re trying to get to the point where they ultimately can.”

The West and the International Atomic Energy Agency say Iran had a nuclear weapons program until 2003. Before the June attack, it had been enriching uranium up to 60% purity—a short, technical step away from weapons-grade levels of 90%.

Responding to Trump, Iranian Foreign Ministry spokesman Esmail Baghaei sought to compare him to Joseph Goebbels, Adolf Hitler’s propaganda minister. He accused Trump and his administration of conducting a “disinformation & misinformation campaign” against Iran.

“Whatever they’re alleging in regards to Iran’s nuclear program, Iran’s ballistic missiles, and the number of casualties during January’s unrest is simply the repetition of ‘big lies,’” Baghaei wrote on X.

Trump said in his speech that at least 32,000 people were killed in last month’s protests, which is at the far end of estimates offered by activists for the death toll. The US-based Human Rights Activist News Agency has so far counted more than 7,000 dead and believes the actual figure is far higher. Iran’s government, which long has downplayed death tolls in other unrest, offered its only toll on Jan. 21, saying 3,117 people were killed.

Mohammad Bagher Qalibaf, Iran’s parliament speaker, said separately that the US could either try diplomacy or face Iran’s wrath.

“If you choose the table of diplomacy—a diplomacy in which the dig -

nity of the Iranian nation and mutual interests are respected—we will also be at that table,” Qalibaf said, according to the semiofficial Student News Network, a media outlet believed to be close to the all-volunteer Basij force of Iran’s paramilitary Revolutionary Guard.

“But if you decide to repeat past experiences through deception, lies, flawed analysis and false information, and launch an attack in the midst of negotiations, you will undoubtedly taste the firm blow of the Iranian nation and the country’s defensive forces.”

See “Talks,” A9

VEHICLES drive past the Saint Sarkis church and a painting of the late Iranian revolutionary founder Ayatollah Khomeini in downtown Tehran, Iran, Wednesday, Feb. 25, 2026. AP PHOTO/VAHID SALEMI

Despite differences, China’s Xi and Germany’s Merz seek to deepen ties in turbulent times

By Ken Moritsugu & Geir Moulson The Associated Press

BEIJING—There are many things that China and Germany do not see eye-to-eye on— notably Russia’s war in Ukraine—but the leaders of the world’s second and third largest economies nonetheless pledged Wednesday to work to deepen ties in an era of global turbulence.

Both countries have been buffeted by the policies of US President Donald Trump, who lauded his import tariffs in a State of the Union address delivered just hours before German Chancellor Friedrich Merz met separately with Chinese leader Xi Jinping and Premier Li Qiang in Beijing.

“The more turbulent and complex the world becomes, the more China and Germany should strengthen strategic communication and enhance strategic mutual trust,” Xi said at the government’s Diaoyutai state guesthouse, a leafy and sprawling property dotted with grand buildings.

He noted the year had not begun peacefully and said, as he has before, that the world is undergoing the most profound changes since the end of World War II.

Merz replied that although the two countries have issues and challenges to discuss, they should “emphasize the things we have in common and face the challenges we stand before together.”

‘Legitimate concerns of all sides’ MERZ , on his first trip to China since taking office last May, has championed building a stronger Europe both economically and militarily to assert itself in the shifting new

world order. Before departing for China on Tuesday, he stressed that for all the differences Europe has with China, “the big global political problems can no longer be tackled today without involving Beijing.”

The chancellor told reporters after his talks that he asked the Chinese leaders to use their influence to end the war in Ukraine.

“We know that signals from Beijing are taken very seriously in Moscow—that goes for words as well as deeds,” he said.

Many European governments have been frustrated that China hasn’t done more to pressure Russia to end the fighting. It has maintained trade and close diplomatic ties with Russia and said its position on the conflict is impartial and objective.

Xi told Merz that China supports a political solution to the conflict in Ukraine, but emphasized that it would have to “address the legitimate concerns of all sides,” and have “equal participation of all parties,” China’s official Xinhua News Agency reported.

Pushing against Trump’s tariffs

MERZ is the latest in a parade of world leaders to visit Beijing as China seeks support from other nations to push back against Trump’s use of tariffs to demand concessions from

trading partners, and his challenges to the United Nations and the global order that has governed international and economic relations in the post-World War II era.

Merz has also emphasized the importance of placing Germany’s China policy in a European context, saying before his trip it was no coincidence that he is visiting not long after French President Emmanuel Macron and British Prime Minister Keir Starmer and ahead of a planned trip by Trump in early April.

“Our message from a European point of view is the same: We want a balanced, reliable, regulated and fair partnership with China,” Merz said. “This is our offer. At the same time, it is what we also hope for and expect from the Chinese side.” Chinese export are threatening factory

jobs in Europe. Germany’s imports from China rose 8.8% to 170.6 billion euros ($201 billion) last year, while its exports to China fell 9.7% to 81.3 billion euros. European leaders want Chinese companies to build factories in their countries. They also want China to reduce manufacturing overcapacity that is driving down prices in industries such as electric vehicles and solar panels, and to remove barriers faced by foreign companies in what is the world’s second-largest economy.

Protectionism and economic coercion MERZ said after Wednesday’s meetings that he was satisfied with the talks, and underlined the potential for business deals—citing a plan for China to order up to 120 planes from European manufacturer Airbus.

However, he made clear that work still has to be done in further talks. He said Germany’s trade deficit with China “has quadrupled since 2020…this dynamic is not healthy, so we are addressing it and want to open ways to cut this trade deficit.”

Xinhua said in a commentary that the two countries have a shared responsibility as major economies to oppose protectionism and economic coercion.

Merz’s two-day visit will take him on Thursday to the high-tech hub of Hangzhou, where he will visit Unitree Robotics, one of China’s leading developers of humanoid robots. His trip to China comes shortly before he makes his third visit to Washington as chancellor.

Moulson reported from Berlin.

Weakened by war and protests, Iran could still inflict pain in response to a US attack

By Sam Metz The Associated Press

JERUSALEM—As US forces mass in the Middle East, Iran faces the threat of major strikes by the world’s most powerful military, potentially targeting its leaders, military, nuclear sites and critical infrastructure.

Iran has nowhere near the same capabilities, and is even more vulnerable after last year’s war launched by Israel and recent anti-government protests. But it could still inflict pain on American forces and allies, and may feel it has to if the Islamic Republic’s survival is at stake.

While Iran suffered major losses last June, it still has hundreds of missiles capable of hitting Israel. While Iran suffered major losses last June, it still has hundreds of missiles capable of hitting Israel, according to Israel’s estimates. Iran boasts a much larger arsenal of shorter-range missiles capable of hitting US bases in Gulf countries and offshore American forces, soon to be joined by a second aircraft carrier.

Iran has previously threatened to close the Strait of Hormuz, a vital waterway for the global oil trade, and claimed to have done so partially during military drills last week.

Supreme Leader Ayatollah Ali Khamenei warned that Iran could sink American warships, and top officials have said a US attack would spark regional war. Iran’s UN ambassador Amir Saeid Iravani said “all bases, facilities and assets of the hostile force in the region” would be legitimate targets.

Lingering capabilities

ISRAEL carried out heavy strikes on Iran’s longer range missile arsenals—as well as its military leadership and nuclear program—during the 12-day war in June. The US struck Iran’s main nuclear sites, and President Donald Trump said at the time that they had been “obliterated.”

But the extent of the damage—and how much has been rebuilt—is still unknown. Iran continued to strike Israel with missiles and drones until the fighting stopped, increasingly eluding its vaunted air defenses.

Iran’s shorter-range missile arsenal was largely untouched, said Danny Citrinowicz, an Iran expert at Israel’s Institute for National Security Studies. That could make Iran more inclined to retaliate against tens of thousands of US forces based in Qatar, Saudi Arabia, Jordan, the United Arab Emirates and elsewhere.

“Iran may be weak. But it still has ways to inflict real pain on the United States—and much more incentive to try than it did before,” Nate Swanson, head of the Atlantic Council’s Iran Strategy Project, wrote in Foreign Affairs. “Iranian officials feel they need to give Trump a bloody nose or they will perpetually be at risk.”

Iran launched missiles at a US base in Iraq after the killing of its top general in 2020 and targeted a US base in Qatar near the end of last year’s war. Those strikes, which appeared to have been telegraphed in advance, caused damage but no fatalities, as early warning systems and missile defenses swung into action.

Iran could also carry out attacks farther afield.

The country has been accused of using criminal

gangs and armed groups to plan or carry out attacks around the world, including on dissidents, Israelis and Jewish targets.

Learning curve

LAST year’s Israeli strikes killed several top generals and nuclear scientists, revealing major vulnerabilities. At one point, Trump said the US knew where Khamenei was hiding, calling him an “ easy target.”

Fresh off the capture of Venezuelan leader Nicolás Maduro, Trump may consider decapitation strikes aimed at bringing down Iran’s decades-old Shiite theocracy, which he recently said “would be the best thing that could happen.”

The Iranians have had eight months to learn from their mistakes and firm up internal security. Citrinowicz said there are likely contingency plans if Khamenei were to be killed. Rather than naming a single successor, power would probably shift to a small committee until hostilities subsided.

Experts say the death of the 86-year-old Khamenei, who has ruled Iran for over three decades, would not in itself spell the end of the Islamic Republic. Power might eventually pass to a member of his inner circle, as it did in Venezuela, or to Iran’s Revolutionary Guard.

US allies could be targets AMERICAN allies are clearly concerned about a regional war, Prime Minister Benjamin Netanyahu has warned of a heavy response to any Iranian attack on Israel.

Arab Gulf states have long viewed Iran with concern and leaned on the US for defense, but do not want to be drawn into war. Saudi Arabia and the United Arab Emirates, which host thousands of American troops, have said they would not allow their airspace to be used.

An Arab Gulf diplomat said regional leaders were talking to Iran and the United States to avert war, warning that it could have severe consequences, including a spike in oil prices. The diplomat spoke on condition of anonymity to discuss the sensitive, closed-door talks.

Iran has its own allies, including Houthi rebels in Yemen, armed groups in Iraq, Hezbollah in Lebanon and Hamas in the Palestinian territories. But its selfdescribed Axis of Resistance suffered major losses in the fighting that rippled across the region after Hamas’ October 2023 attack from Gaza.

the Strait of Hormuz, just off Iran’s shore. The US Navy is committed to keeping it open, but Iranian attacks could disrupt trade, as the far-weaker Houthis managed to do in the Red Sea for much of the past two years. Iranian officials have not explicitly threatened to target the strait in the current standoff, but Iranian forces partially closed it last week during military drills, signaling it could be vulnerable if war breaks out. Other critical oil assets would also be within range.

In 2019, strikes on oil infrastructure temporarily halved Saudi Arabia’s production. Yemen’s Houthis claimed responsibility, but US officials later blamed Iran.

The nuclear question AFTER initially threatening military action over Iran’s killing of protesters, Trump shifted attention to its nuclear program, warning that “bad things” would happen if Iran doesn’t agree to a deal. The two sides are set to hold another round of indirect talks in Geneva on Thursday. Iran has always said its nuclear program is peaceful, while the US and others have long suspected that Tehran intends to eventually develop weapons.

See “Iran,” A9

CHINESE President Xi Jinping, second from right, meets with German Chancellor Friedrich Merz, second left, at the Diaoyutai State Guesthouse in Beijing, China, Wednesday, Feb. 25, 2026. JESSICA LEE/POOL PHOTO VIA AP

Rubio defends US ouster of Venezuela’s Maduro to Caribbean leaders unsettled by Trump policies

By Matthew Lee & Dánica Coto The Associated Press

BASSETERRE, St. Kitts and Nevis—US Secretary of State Marco Rubio on Wednesday defended the Trump administration’s military operation to capture Venezuela’s Nicolás Maduro, telling Caribbean leaders, many of whom objected to that move, that the country and the region were better off as a result.

Speaking to leaders from the 15-member Caribbean Community bloc at a summit in the country of St. Kitts and Nevis, Rubio brushed aside concerns about the legality of Maduro’s capture last month that have been raised among Venezuela’s island-state neighbors and others.

“Irrespective of how some of you may have individually felt about our operations and our policy toward Venezuela, I will tell you this, and I will tell you this without any apology or without any apprehension: Venezuela is better off today than it was eight weeks ago,” Rubio told the leaders in a closed-door meeting, according to a transcript of his remarks later distributed by the US State Department.

Rubio said that since Maduro’s ouster and the effective takeover of Venezuela’s oil sector by the United States, the interim authorities in the South American country have made “substantial” progress in improving conditions by doing “things that eight

or nine weeks ago would have been unimaginable.”

The Caribbean leaders have gathered to debate pressing issues in a region that President Donald Trump has targeted for a 21st-century incarnation of the Monroe Doctrine meant to ensure Washington’s dominance in the Western Hemisphere.

The Republican administration has declared a focus closer to home even as Washington increasingly has been preoccupied by the possibility of a US military attack on Iran.

His trip to the region came as Cuba’s government announced that its soldiers killed four people aboard a speedboat registered in Florida whose occupants it said opened fire on officers in Cuban waters.

“Suffice it to say, it is highly unusual to see shootouts in open sea like

that. It’s not something that happens every day. It’s something, frankly, that hasn’t happened with Cuba in a very long time,” Rubio told reporters. He said that the US is gathering its own information and that “we’ll be prepared to respond accordingly.”

Rubio downplays antagonism in US regional push IN his remarks to the group, America’s top diplomat tried to play down any antagonistic intent in what Trump has referred to as the “Donroe Doctrine.”

Rubio said the administration wants to strengthen ties with the region following the Venezuela operation and ensure that issues such as crime and economic opportunities are jointly addressed.

“I am very happy to be in an administration that’s giving priority to

the Western Hemisphere after largely being ignored for a very long time,” Rubio said. “We share common opportunities, and we share some common challenges. And that’s what we hope to confront.”

He said transnational criminal organizations pose the biggest threat to the Caribbean while recognizing that many are buying weapons from the United States, a problem he said authorities are tackling.

Rubio also said the US and the Caribbean can work together on economic advancement and energy issues, especially because many leaders at the four-day summit have energy resources they seek to explore. “We want to be your partner in that regard,” he said.

Rubio said the US recognizes the need for fair, democratic elections in Venezuela, which lies just miles away from Trinidad and Tobago at the closest point.

“We do believe that a prosperous, free Venezuela who’s governed by a legitimate government who has the interests of their people in mind could also be an extraordinary partner and asset to many of the countries represented here today,” he said.

Trump plays up Maduro’s ouster TRUMP, in his State of the Union address Tuesday night, called the operation that spirited Maduro out of Venezuela to face drug trafficking charges in New York “an absolutely colossal victory for the security of the United States.”

The US had built up the largest military presence in the Caribbean Sea in generations before the Jan. 3 raid. That has now been exceeded by the surge of American warships and aircraft to the Middle East as the administration pressures Iran to make a deal over its nuclear program.

In the Caribbean, Trump has stepped up aggressive tactics to combat alleged drug smuggling with a series of strikes on boats that have killed over 150 people and he has tightened pressure on Cuba. Regional leaders have complained about administration demands for nations to accept third-country deportees and to chill relations with China.

One regional leader who has backed the US escalation is Trinidad and Tobago Prime Minister Kamla Persad-Bissessar, whom Rubio thanked for her public support, the State Department said.

Persad-Bissessar told reporters that her conversation with Rubio focused on “Haiti; we talked about Cuba, of course; we talked about engagements with Venezuela and the way forward.”

She was asked if she considered the latest US military strikes in Caribbean waters as extrajudicial killings: “I don’t think they are, and if they are, we will find out, but our legal advice is they are not.”

Rubio had other one-on-one meetings with heads of government, including those from St. Kitts and Nevis, Haiti, Jamaica and Guyana.

Caribbean leaders point to shifting global order

TERRANCE DREW, prime minister of St. Kitts and Nevis and chair of the Caribbean Community bloc, said the region “stands at a decisive hour” and that “the global order is shifting.” Drew and other leaders said Cuba’s humanitarian situation must be addressed.

“It must be clear that a prolonged crisis in Cuba will not remain confined to Cuba,” Jamaican Prime Minister Andrew Holness warned. “It will affect migration, security and economic stability across the Caribbean basin.”

Rubio told reporters that he talked to Caribbean leaders about how the “Cuba status quo is unacceptable. Cuba needs to change.”

“What the Cuban people should know is this, that if they are hungry and they are suffering, it’s not because we’re not prepared to help them. We are. It’s that the people standing in the way of us helping them is the regime. It’s their communist party,” he said. The US Treasury Department on Wednesday slightly eased restrictions on the sale of Venezuelan oil to Cuba, which instituted austere fuelsaving measures in the weeks after the US raid in Venezuela.

Coto reported from San José, Costa Rica. Associated Press reporter Anselm Gibbs in Port-of-Spain, Trinidad and Tobago, contributed to this report.

Bill and Hillary Clinton, battle-tested, gear up for another Washington fight

By Steven Sloan The Associated Press

WASHINGTON—For some of their conservative critics, this is the scandal that could finally topple them. Their resistance to testifying proved futile. And now, staring down another epic fight, they’re harnessing their considerable political skills to try and turn the table on their accusers.

For Bill and Hillary Clinton, the 1990s are back.

The Clintons are slated to testify Thursday and Friday in a House investigation into Jeffrey Epstein, part of a deal with Republicans after it became clear that Congress— with the help of some Democrats—was on track to hold them in contempt if they refused to cooperate. For the battle-hardened couple, it amounts to one more Washington brawl. And like so many of the battles that came before, this one is another mix of questionable judgment, sexual impropriety, money and power.

During his 1992 campaign, Bill Clinton pitched his candidacy as “two for the price of one,” previewing a presidential marriage like none that had come before, with a spouse whose professional credentials rivaled his. In the years since, that partnership helped the Clintons weather repeated

scandals, including those so personal that many other relationships would have shattered. When his political career was ending, hers was ascending when she was elected to the US Senate from New York, then served as secretary of state before becoming the Democratic nominee for president in 2016.

For those who have long watched the Clintons, this moment is a reminder that the couple—weaned on the politics of the Vietnam War and Watergate—has never been far from the heat of a cultural fight. And with the Epstein case unfolding unpredictably around the world, the Clintons are once again ensnared in the scandal of the moment.

It’s kind of a sad but fitting coda to extraordinary political lives,” said David Maraniss, who has written two biographies of Bill Clinton.

There’s no evidence of wrongdoing on the part of either Clinton when it comes to Epstein, a convicted sex offender who committed suicide in 2019 while he was in jail awaiting trial on sex trafficking charges.

But Epstein had ties to Bill Clinton for years, visiting the White House multiple times in the 1990s, according to visitor logs. After Clinton left office, Epstein was involved in his philanthropy and the former president flew multiple times on his private jet.

“Traveling on Epstein’s plane was not

worth the years of questioning afterward,”

Bill Clinton wrote in his 2024 memoir. “I wish had never met him.”

Bill Clinton’s ties to Epstein BY last summer, the Republican-controlled House Oversight Committee issued subpoenas for the Clintons. For months, Bill Clinton, 79, and Hillary Clinton, 78, largely ignored the matter in public but that became harder to sustain in December when the former president was featured prominently in the first batch of Epstein files.

Among thousands of documents made public, some photos showed him on a private plane, including one with a woman, whose

face is redacted, seated alongside him with her arm around him. Another showed Bill Clinton in a pool with Epstein’s longtime confidant, British socialite Ghislaine Maxwell, and a person whose face was redacted. Yet another photo portrayed Bill Clinton in a hot tub with a woman whose face was redacted.

The oversight panel’s chairman, Rep. James Comer of Kentucky, threatened to hold the Clintons in contempt if they didn’t comply with the subpoenas, a historic move considering a former president has never been compelled to appear before Congress. Between his first and second terms, Donald Trump invoked that precedent to fend off a subpoena from the committee investigating the Jan. 6, 2021 attack on the US Capitol.

While there was no context surrounding the photos of Bill Clinton, they underscored how his political promise has always been tempered by personal indiscretions.

The 1992 campaign that represented the emerging preeminence of the Baby Boom generation was the same one dogged by rumors of an affair with Gennifer Flowers. A presidency largely defined by economic prosperity was nearly derailed when Clinton was impeached in 1998 for lying under oath and obstructing justice when he denied engaging in a sexual relationship with Monica Lewinsky.

Each time, many Republicans thought they finally found leverage over the Clin -

tons. But each time, the Clintons found a way out of the vise.

Asa Hutchinson, the former Republican congressman from Arkansas who was a House manager during Clinton’s impeachment trial, described the couple as “a smart lawyer and brilliant communicator.”

The Clinton playbook: fight back fiercely AS each crisis surfaced, a pattern emerged: the Clintons fiercely denied the allegations and often dismissed women who came forward with claims. They villainized the GOP and re-centered the public’s attention on more favorable themes like the booming economy of the era.

Bill Clinton, who famously told voters “I feel your pain,” always managed to stay connected with the public. Indeed, he enjoyed some of the highest approval numbers of his presidency during his impeachment inquiry and trial, when about 7 in 10 US adults approved of the way he was handling his job.

Hillary Clinton similarly dispatched Republicans who sensed an opening in her handling of a 2012 attack on a compound in Libya that killed four Americans. She came out of an 11-hour televised congressional hearing in 2015 appearing poised. Even the Republican chair of the committee probing the attack said he wasn’t sure she revealed

anything new about an issue many in his party considered a scandal. That experience has informed how the Clintons are approaching this week’s testimony. Hillary Clinton has been especially vocal in calling for the proceedings to happen in public, rather than in private as Comer currently plans.

“We have nothing to hide,” she told the BBC earlier this month.

Bill Clinton’s communication operation has taken a sharper tone, recalling the political “war room” popularized during the 1992 campaign to respond to negative storylines. One release accused Comer of “lying in every appearance he’s made this week.” Another mocked GOP Reps. Scott Perry of Pennsylvania and Andy Biggs of Arizona with a “hypocrisy award of the day,” noting how the Oversight committee members defied subpoenas from the Jan. 6 panel. Meanwhile, the Clintons released a fourpage letter to Comer on social media defiantly belittling a process they said was “literally designed to result in our imprisonment.” Much as they tried to refocus attention during the 1990s, the letter hit the White House for dismantling institutions, imposing a harsh immigration crackdown and pardoning those involved in the Capitol riot.

See “Clinton,” A9

US sheds light on allegation of Chinese nuclear test and urges nations to push for disarmament

By Jamey Keaten The Associated Press

GENEVA—A US official focusing on arms control on Monday provided what he called new, declassified details of a Chinese underground nuclear test nearly six years ago and urged countries to press China and Russia to do more on nuclear disarmament.

Christopher Yeaw, assistant secretary of state for the bureau of arms control and nonproliferation, spoke to a UN-backed body after the last nuclear arms pact between the United States and Russia expired this month.

That has ended limits on the arsenals of the world’s biggest nuclear powers and raised concerns about a possible new arms race.

Yeaw called for greater transparency from China and pointed to some shortcomings of the New START treaty, such as that it didn’t address Russia’s large arsenal of nonstrategic nuclear weapons—which counts up to 2,000 warheads.

“But perhaps its greatest flaw was that New START did not account for the unprecedented, deliberate, rapid and opaque nuclear weapons buildup by China,” he told the U.N.-backed Conference on Disarmament.

Yeaw said Beijing “has deliberately, and without constraint, massively ex-

Talks...

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Talks hang in balance

IRAN and the US are to meet Thursday for their third round of talks under the mediation of Oman, long an interlocutor between Tehran and the West. A flight carrying Iranian Foreign Minister Abbas Araghchi and his team arrived late Wednesday in Geneva, where they will meet American officials led by special US Mideast envoy Steve Witkoff.

Rubio said the discussions will be largely focused on Iran’s nuclear program and are important to gauge how serious the country is in reaching a deal to avoid potential US military action. But he suggested a breakthrough was unlikely at this session, noting that the US also has major concerns with Iran’s conventional weapons.

“We hope progress can be made,” Rubio told reporters during a trip to the Caribbean, saying diplomacy was Trump’s preference. “But it’s also important to remember that Iran refuses — refuses — to talk about the ballistic missiles to us or to anyone, and that’s a big problem.” If the talks fail, uncertainty hangs

panded its nuclear arsenal” despite its assurances to the contrary. He lamented a lack of transparency about China’s “endpoint” or goals. “We believe China may achieve parity within the next four or five years,” he said.

Beijing has balked at any restrictions on its smaller but growing nuclear arsenal and denies carrying out such a nuclear test.

Details about alleged Chinese nuclear test in 2020 YEAW led a US delegation that met Monday with a Russian delegation and on Tuesday with Chinese and other delegations in Geneva, the State Department said. US officials have already held repeated meetings with partners, including nuclear-armed France and Britain.

In his speech, Yeaw cited an explosion detected at the Lop Nur underground site in western China as

over the timing of any possible attack. If the aim of potential military action is to pressure Iran to make concessions in nuclear negotiations, it’s not clear whether limited strikes would work. If the goal is to remove Iran’s leaders, that will likely commit the US to a larger, longer military campaign. There has been no public sign of planning for what would come next, including the potential for chaos in Iran.

The status of Iran’s nuclear program is another mystery. Trump said last year that American strikes “obliterated” it. Now dismantling whatever remains of the program appears to be back on the administration’s agenda. IAEA inspectors have not been allowed to inspect those sites and verify what remains.

There is also uncertainty about what any military action could mean for the wider region. Tehran could retaliate against the American-allied nations of the Persian Gulf or Israel. Oil prices have risen in recent days in part due to those concerns.

Associated Press writers Amir Vahdat in Tehran, Iran, Matthew Lee in Basseterre, St. Kitts and Nevis, and Konstantin Toropin in Washington contributed to this report.

a magnitude 2.75 seismic event on June 22, 2020, based on information collected from an international monitoring system station in neighboring Kazakhstan.

“It was a probable explosion based upon comparisons between historic explosions and earthquakes,” he said. “The seismic signals were indicative of a single fire explosion, not typical of mining explosions.”

Yeaw said China has made it “difficult” for the international community to monitor its testing activities and that during talks, it rejected allowing seismic testing stations to be put at a comparable distance to Lop Nur that the US allows near its test site in Nevada.

China rejects accusations CHINA’S ambassador to the confer -

Iran...

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After Trump scrapped a 2015 nuclear agreement, Iran ramped up its enrichment of uranium, building up a stockpile of nearweapons grade material.

Iran’s biggest sites were hit by US and Israeli strikes, causing significant damage above ground. But it’s unclear whether en -

Clinton...

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Conservative attacks on the Clintons

THE Clintons’ rise to power paralleled the explosion of talk radio as a political force, with Rush Limbaugh using his daily show as a platform to constantly berate the White House. Today, conservative podcasters like Benny Johnson have filled Limbaugh’s space and were gleeful after the House panel moved last month to hold the couple in contempt.

“Do you understand Donald Trump made good on his oldest promise arguably which is he told all of us 10 years ago that Hillary Clinton would be going to jail?” Johnson said last month.

Still, some dynamics have changed.

The lockstep support the Clintons enjoyed

ence said Monday that Beijing “resolutely rejects the unfounded accusations” by the US and lashed out at “continued distortion and smearing of China’s nuclear policy by certain countries.”

“The US accusation that China conducted a nuclear explosion test is completely unfounded and is merely a pretext for resuming its own nuclear testing,” Ambassador Jian Shen said. “The US’s practice of smearing other countries to evade international arms control obligations seriously damages its own international standing.”

If China conducted yield-producing nuclear explosive tests, it would severely tarnish its reputation as a responsible nuclear power, said Tong Zhao, a senior fellow focused on nuclear policy and China at the Carnegie Endowment for International Peace

riched uranium was spirited away before they were hit or buried underground. Iran says it has been unable to enrich since then, but it has also barred inspections.

Iran is still believed to be a long ways from developing a usable nuclear weapon, but radioactive material could pose a risk in the event of widespread strikes.

Associated Press writer Samy Magdy contributed reporting from Cairo.

among congressional Democrats has eroded as a new generation of lawmakers has taken office — nine Democrats joined with Republicans on the House committee to advance the contempt resolution. Trump, who has faced scrutiny over his own ties to Epstein and may be uncomfortable with the precedent of forcing a former president to testify, has expressed rare concern for the Clintons.

He told NBC News that it “bothers me that somebody is going after Bill Clinton.” He has described Hillary Clinton as a “very capable woman.”

Even Hutchinson, who helped make the case for Bill Clinton’s impeachment, expressed sympathy for the couple.

“It’s frustrating and disappointing that President Clinton and Secretary Clinton are having to go through this fact-finding ordeal,” he said. “That’s difficult for them.”

in Washington. Some in the US could cite that as justification for testing weapons again.

“There are American nuclear weapon scientists who genuinely think, no matter what other countries do, that the US needs to resume nuclear testing simply to ensure its own arsenal would be reliable in the long run,” Zhao said.

President Donald Trump in October pointed to US intentions to resume nuclear tests for the first time since 1992, but Energy Secretary Chris Wright later said such tests would not include nuclear explosions.

Yeaw, speaking last week at the Hudson Institute, a think tank in Washington, pointed to Trump’s previous comments by saying the US will return to testing on an “equal basis.” He said that doesn’t mean “Ivy Mikestyle atmospheric testing” but “presumes a response to a prior standard. Look no further than China or Russia for that standard.”

In his first term, Trump tried and failed to push for a three-way nuclear pact involving China.

Just after the New START pact expired, Secretary of State Marco Rubio said the US was “pursuing all avenues” to fulfill Trump’s “desire for a world with fewer of these awful weapons” but insisted Washington would not stand by while Russia and China expand their nuclear forces.

“Since 2020, China has increased its nuclear weapons stockpile from the low 200s to more than 600 and is on pace to have more than 1,000 warheads by 2030,” Rubio wrote on

Substack this month.

US presses other countries to get involved THE US has expressed a willingness to pursue multiple diplomatic avenues over the issue—whether bilateral, in a small group of countries or in broader multilateral talks.

“We are looking to all of you to help encourage nuclear-weapon states like China and Russia to engage meaningfully in a multilateral process,” Yeaw told the conference, which brings together some 65 countries on issues like nuclear, biological and chemical weapons.

Shen said China has consistently supported the goals of the Comprehensive Nuclear Test Ban Treaty, “always adhered” to the commitments of the five nuclear weapons states to suspend nuclear testing and “never” engaged in activities that violate the treaty.

He also suggested Beijing, which has been on a vigorous military buildup in recent years, still has fewer nuclear weapons than the US or Russia and said it was “unfair, unreasonable and unfeasible” to demand China engage in three-way nuclear arms control talks.

“China’s nuclear arsenal is not on the same scale as the country with the largest nuclear arsenal, and the strategic security environment faced by China’s nuclear policy is completely different from that of the US,” Shen said.

Associated Press writers Didi Tang and Ben Finley in Washington contributed to this report.

CHRISTOPHER YEAW, center, arrives to a Senate Foreign Relations Committee confirmation hearing on his nomination to be an assistant Secretary of State, Nov. 19, 2025, on Capitol Hill in Washington. AP PHOTO/JULIA DEMAREE NIKHINSON

Bishop calls political dynasties, patronage politics root of country’s state of crisis

By Mascarinas Erwin

BUTUAN City—A Catholic bishop on Wednesday called out political dynasties and patronage politics as the root of the country’s continuing crisis, urging young Filipinos to demand accountability from their leaders as the nation marked the 40th anniversary of the EDSA People Power Revolution.

Bishop Cosme Damian R. Alm -

edilla of the Diocese of Butuan made the remarks before residents from Butuan City and neighboring towns who gathered at Guingona Park for the commemoration of the

Continued from A5

In his affidavit that he said he also transmitted to the ICC on Thursday, Tesiorna asked the ICC Pre-Trial Chamber “to order the removal of the video from court records and for the prosecutor to issue an apology for misrepresentation.”

He, likewise, demanded a public apology from the prosecutor before the end of the confirmation of charges proceedings, warning that “failure to do so could prompt legal action, including claims related to cyberlibel, damages, and copyright infringement.”

Tesiorna said he “personally recorded the video on December 19, 2013 during a media presentation of the newly installed CCTV system of Davao City’s Central 911.” He asserted ownership of the video and said he “never authorized its showing or worldwide broadcast for any purpose.”

He said prosecutor Julian Nicholls presented during the confirmation hearing on February 23 “a version of the video with English subtitles that were not part of the original recording” and pointed out that the addition of subtitles “constituted unauthorized and illegal tampering, and the presentation misrepresented the context of the footage.”

He said the video “was not intended to depict a real-time killing, extrajudicial killing [EJK], or crimes against humanity” as he said the footage “was shown solely to demonstrate the technical capability of the CCTV system, comparable at the time to systems used in other major cities, and that no crime occurred simultaneously with the playback.”

He said neither he nor other journalists present during that presentation “reacted by reporting any crime to the police during the 2013 presentation,” which he said supported the claim that the footage was not a live incident.

Tesiorna also recalled that police had confirmed there was no killing that occurred at that specified location on December 19, 2013. He said that the incident shown in that footage purportedly occurred in Agdao a month earlier and was reviewed only to demonstrate the capability of the CCTV to record actual incidents. He said the police told reporters that time that the particular incident had already been investigated by authorities.

Tesiorna has also clarified that he has not made or entered into “any coordination or cooperation with the ICC prosecution” due to what he described as unauthorized use of his video, and further said he was “never contacted by ICC investigators prior to the video’s presentation.”

EDSA People Power Revolution.

The event was part of the diocese’s second assembly of its Transparency, Accountability, and Good Governance (i-TAG) White Movement.

He described the Philippines as trapped in a political, economic, and moral crisis driven by what he called “widespread and systemic corruption.”

“Enough of political dynasties. Enough of patronage and personality-driven politics that have now spread throughout our country,” Almedilla said, adding that those who speak out against these abuses are often accused of “engaging in politics” by the very people exploiting ordinary Filipinos.

The bishop described a situation in which Filipinos are being robbed and exploited yet made to feel ashamed for calling it out. He

stressed that the response to this crisis must go beyond mere enthusiasm and must be rooted in courage, the kind that compels a person to speak up, with or without companions.

Almedilla then turned his message directly to the youth, warning Generation Z against being swayed by empty promises as the elections draw near.

“How many times must we be deceived before we learn? How many times must you be fooled by sweet promises? Your one good vote can change the Philippines for the better. Just one good vote,” Almedilla said.

The bishop also pushed back against those who argue that entrenched politicians are too powerful to be removed, reminding the crowd that the power ultimately rests with the voters.

Comelec sets 2028 procurement timeline, schedules April tech fair

By Mary Jade Jadormio

THE Commission on Elections (Comelec) has begun formal preparations for the 2028 national and local elections, lining up procurement activities this year and setting a technology fair in April to help determine the systems to be used.

Speaking at the Kapihan sa Manila Bay forum, Comelec Commissioner Ernesto Maceda Jr. said the poll body started organizing its groundwork as early as August 2025, shortly after the conclusion of the May elections.

“We started in August 2025 for the 2028 elections,” Maceda

said, noting that a steering committee and a project management office were created to oversee the planning phase.

The commissioner said the project management office will handle operational coordination while the commission en banc focuses on policy direction and other election-related responsibilities.

By March, Comelec will begin drafting the terms of reference for the procurement of the electoral transmission system and the overseas voting and counting system, which are targeted for funding this year.

The actual vote-counting machines, considered the core of the automated election system,

are scheduled for procurement in 2027, subject to congressional appropriations.

In April, the poll body will hold a “Voters Fair” at the Manila Hotel, where around 15 to 20 technology providers are expected to present available election systems.

Maceda said the exhibition will allow the commission to assess what technologies are practicable before finalizing its procurement specifications.

“We will only know what is doable once we see what is available on the market,” he said.

He added that the early start is intended to ensure that institutional structures are in place well ahead of the next presidential race.

Tarlac opens doors to job ready skills program

By Bless Aubrey Ogerio

THE Bases Conversion and Development Authority (BCDA) and the Provincial Government of Tarlac have opened an off-campus training center in New Clark City to provide free, industry-based skills training to students and jobseekers under the Tarlac Center for Learning and Skills Success (TCLASS) program.

The facility offers Technical Education and Skills Development Authority (TESDA)-accredited courses intended to respond to labor demand arising from the continued development of New Clark City, particularly in the hospitality and services sectors.

The first batch of 25 trainees is scheduled to begin a 20-day training program this month. Program organizers said TCLASS aims to run 10 batches within a year.

“As infrastructure and investments continue to expand in New Clark City, the demand for skilled

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labor will also grow,” BCDA president and chief executive Joshua Bingcang said.

“Providing a dedicated training venue here ensures that local communities are prepared to participate in and contribute to this development,” he added.

The training center is located at Athletes’ Village Building B and will use meeting rooms, mock guest rooms and a front desk setup for hands-on instruction and simulations.

Courses will prioritize skills aligned with industries expected to generate employment in the area.

According to officials, all programs will comply with the Unified TVET Program Registration and Accreditation System (UTPRAS), which sets national standards for technical and vocational training.

“This TESDA-accredited OffCampus Training Center is key in strengthening our workforce in Tarlac,” Tarlac Governor Christian Tell Yap said.

organizations before issuing any policy or guidance that may affect mangrove ecosystems.

“We are investing directly in people by giving them access to high-quality, and industry-driven training that leads to employment opportunities,” he added.

Training costs will be subsidized by the provincial government, while the municipality of Capas, through its Public Employment Service Office (PESO), will cover the TESDA assessment fees of graduates to enable them to obtain National Certificates.

Interested applicants may submit their requirements to the PESO offices in Capas or the provincial PESO in Tarlac.

The project forms part of the government’s broader workforce development push under the Trabaho Para sa Bayan Plan 20252034.

Data from the Philippine Statistics Authority in Region 3 reported that Tarlac’s economy expanded by 7.6 percent in 2024, up from 6.5 percent in 2023, with a GDP estimated at P220.97 billion.

“Remember, you have the power in your hands in the coming elections,” he said.

The gathering in Butuan, spearheaded by the Diocese of Butuan, was part of a simultaneous nationwide observance led by the Catholic Bishops’ Conference of the Philippines (CBCP). Almedilla cited the three R’s laid out by the CBCP, remember, repent, and respond, as the framework guiding the Church’s collective action.

“Our future depends on it. If we do not respond, or if we respond poorly, our nation will continue to suffer,” he said.

Guest speaker Atty. Josefe S. Ty, a Butuan-based lawyer, brought the memory of EDSA to life before the crowd, recalling how she was just 17 years old when she joined the uprising as a student at the University of the Philippines

Diliman.

“Today I remember a miracle, a miracle where we had a bloodless uprising, where people knelt before God, prayed the rosary, held flowers instead of guns, and peacefully toppled a dictatorship,” Ty told the audience. Ty described the EDSA revolt as a spiritual awakening, a moment when the Filipino people, led by faith, collectively choose truth over lies, justice over abuse, and service over selfish power.

“I hope EDSA will always be remembered as a spiritual miracle—the faith of millions of suffering Filipinos who believed in their God, who knew that their God would never forsake them. Today, we honor that grace-filled moment, but we must also examine our present and our hearts,” Ty added.

Another ₧16-million smuggled cigarette seized in Zambo, cops arrest region’s most wanted person

DAVAO CITY – Police in Zamboanga said it pounced on another set of contraband cigarettes, valued at P16 million, in almost a monthly occurrence in the peninsula, as it also announced it arrested the region’s sixth most wanted in Zamboanga del Sur.

The Zamboanga Regional Police Office (PRO) 9 said it seized the smuggled cigarettes in a joint seaborne patrol conducted on the evening of February 16 within the territorial waters of Sta. Cruz Island, Zamboanga City.

The operation was led by the 2nd Zamboanga City Mobile Force Company (Seaborne), in coordination with the Regional Maritime Unit 9, the 904th Regional Mobile Force Battalion 9, Regional Intelligence Division 9, and Zamboanga City Police Station (ZCPS) 11.

The regional police said operating units detected at 8:30 p.m. a motorized vessel carrying a significant volume of suspected smuggled cigarettes. Individuals on board failed to present the necessary shipping and transport

Lipsticks. . .

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behavioral damage, especially in children. Young children absorb significantly more lead than adults, leading to reduced IQ, learning difficulties, and behavioral problems. Lead exposure also harms the developing fetus.

“Lead, mercury, cadmium, and other chemical substances are proven toxicants that accumulate in the body through continuous exposure and can pose risks to public health and the environment,” said Thony Dizon, Advocacy and Campaign Officer of BAN Toxics.

documents for the cargo, it added. Shortly after, it said operating personnel sighted another motorized vessel found abandoned by its unidentified crew within the same maritime area. The vessel was likewise secured and transported to port for inspection and documentation.

The Bureau of Customs (BOC) said the seized contrabands totaled 280 master cases of assorted cigarettes consisting of New Berlin and Fort and valued them P16,044,000.

Meanwhile, on February 23, police arrested the Top 6 Most Wanted Person (MWP) at in Purok 6, Barangay Caridad, Dumingag, Zamboanga del Sur. It did not name the arrested person but said he was a 70-yearold male and a resident of Purok Sampaguita, Barangay Bagong Silang, Maragusan, Compostela Valley, Davao de Oro. He was wanted for lascivious acts on a minor that happened in April 2024. He was brought to Dumingag police station for custody. Manuel T. Cayon

has been linked to hormone disruption, reproductive issues, an increased risk of cancer, and skin irritation. Since 2013, the country’s Food and Drug Administration (FDA) has issued multiple public health warnings against unnotified cosmetic products, including lipsticks, as these may contain heavy metals such as lead used as pigments (colorants). Because these products have not undergone the FDA’s notification process, their quality and safety cannot be guaranteed, making them potential health hazards.

As an advocate of safe cosmetics, BAN Toxics urges regulatory agencies to step up enforcement actions against unregistered and unnotified beauty products and strengthen measures to protect the consuming public. The group further advises manufacturers to comply with the labeling requirements under the ASEAN Cosmetic Directive. Jonathan L Mayuga Lastly, it called for meaningful, inclusive consultations with

“Every member of the Alliance calls for the protection of Philippine mangroves. We urge the Filipino people to act in solidarity to protect our coasts’ first

defenders—alongside scientists, civil society organizations, and concerned citizens. Mangroves are not obstacles to development, but are allies in economic growth, food security, disaster risk reduction, and climate change mitigation,” the group ended.

Parabens, one of the listed ingredients, are commonly used as preservatives in cosmetics. However, they are considered chemicals of emerging concern due to scientific findings suggesting their ability to disrupt the endocrine system. Prolonged exposure to these chemicals

Subic theme park investors hit ‘illegal’ board elections as takeover attempt

By Henry Empeño

SUBIC BAY

FREEPORT—Majority

stockholders of the Subic Bay Marine Exploratorium, Inc. (SBMEI), which owns and operates the popular Ocean Adventure marine theme park here, have decried a recent stockholders’ meeting that elected unqualified persons to the firm’s board of directors, saying it was an attempt to take over the multi-billion tourism company.

Virginia Dio, a representative of investor firm HS Equities Ltd., said Timothy Desmond, former CEO and Chairman of the Board of SBMEI, called for the said meeting on February 13 at a hotel in this free port without notifying all stockholders.

“Desmond, who only holds 1.08% of SBMEI shares, led the fake Annual Stockholders’ Meeting [ASM] to elect the new Board of Directors of SBMEI,” Dio said in a statement to the media on Thursday.

“The said meeting was aimed at seizing control of the multibillion-peso SBMEI, which operates Ocean Adventure Marine Park and Camayan Beach Resort here,” she added.

Dio said HS Equities representatives arrived at the hotel venue to protest the illegal meeting and saw “a bizarre scene” with a long conference table meticulously arranged with name placards for all 25 shareholders of SBMEI.

“It was like a scene reminiscent of a theatrical farce,” Dio recalled.

“Each seat was empty,” she added.

Dio said the illegal meeting of stockholders listed former SBMEI officials, some of whom are already

“I will not tolerate attempts to smear my reputation. My legal team is prepared to take all necessary actions, and we will have our own investigation to determine

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deceased. These included former SBMEI CEO and original shareholder John Corcoran, original shareholder of the precursor company SMA Michael Renfrew, and SBMEI co-founder Scott Sharpe.

“Desmond, who personally knew those men and was aware of their deaths, deliberately placed their names on the table to create the false appearance of attendance and quorum,” Dio said. “The only people in the room were his two sons, former SBMEI employees, and Desmond’s assistant counsel,” she added.

Dio also alleged that Desmond sold one share each to three former SBMEI employees just before the supposed stockholders’ meeting, although the share transfers were not recorded in SBMEI’s stock and transfer book nor filed with the Securities and Exchange Commission.

Dio said these individuals, at the behest of Desmond, then proceeded to vote for themselves, as well as for two other persons who were not present in the meeting, as the new board members of SBMEI.

Dio pointed out that under Philippine law, individuals not recorded in the stock and transfer book

whether this malicious stunt – given its timing amid the ICC [International Criminal Court] hearings, the People Power Revolt anniversary, and the planned ‘One Time Big Time’ mass action—is seemingly part of a broader effort to undermine or destabilize government institutions,” the NSA said.

are not yet considered registered shareholders of the corporation and, therefore, possess no voting rights and are not qualified to be elected as company directors.

The recent dispute is the latest in a series of internal management squabbles that hounded the SBMEI since its formation in October 2001 and the entry in 2002 of HS Equities Ltd., a corporation registered in the British Virgin Islands, to infuse funds for the development and operation of the Subic marine theme park.

In 2013, Dio accused Desmond of defrauding her and the companies she represented of $1.15 million and $1 million, respectively, for the theme park project. Desmond was convicted of fraud thereafter, served a sentence at the Olongapo City jail.

The Barredo Law Office in Olongapo City said in November last year that Desmond was “wrongly released” after serving the sentence, as there was a final deportation order against him from the Bureau of Immigration in 2016.

In 2017, a management stand -

Año also urged the public to be discerning and not be swayed by misinformation.

“Rest assured, the government will continue to address legitimate concerns through proper channels and uphold the rule of law at all times,” he added. With PNA

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A US Air Force fact sheet said that the C-146A Wolfhound’s primary mission “is to provide US Special Operations Command flexible and responsive operational movement of small teams and cargo in support of Theater Special Operations Commands.”

The factsheet also said airlift missions are conducted by Air Force Special Operations Command aircrews to prepared and semi-prepared airfields around the world.

The C-146A is a twin-engine, high-wing aircraft equipped with a configurable cabin capable of various passenger and cargo combinations, as well as casualty evacuation missions.

“The C-146A is equipped with a variety of systems that allow it to operate in various austere conditions.”

The factsheet also said that the “C-146A is the military version of the Dornier 328 turboprop commuter airliner modified to permit cargo and personnel transport missions. The aircraft has been continuously deployed since October 2011 and currently supports overseas contingency operations across four geographic combatant commands.” With PNA

The boarding party determined the case as a possible violation of Republic Act 10863, or the Customs Modernization and Tariff Act. The ship was then escorted to Naval Station Romulo Espaldon on February 25 for official inventory and documentation of the seized cargo.

from A4

receive high-speed connectivity, those investments will not fully reach end users,” Belmonte said. CitizenWatch also pointed to international benchmarks. Hong Kong, Singapore, the European Union, and Australia have adopted policies requiring in-building telecommunications infrastructure and fair access for providers, similar to how water and electricity are included in building plans and provided access for free to buildings and residential developments.

“The BOC has been consistent and unwavering in its fight against the illegal sale, manufacture, and distribution of illicit cigarettes,” Customs Commissioner Ariel F. Nepomuceno was quoted as saying.

“These economies recognized that digital infrastructure is central to competitiveness,” Belmonte added.

“If we want to align with global digital leaders, our laws must reflect that reality.” Belmonte urged senators to introduce amendments that incorporate these digital infrastructure provisions as the measure moves forward.

“We call on the Senate to strengthen the pending bill by mandating broadband-ready, mobileready buildings across the country. If we build right today, we build a more inclusive, more productive, and thriving digital economy.”

“We will continue to intensify our operations, not only because they fall under our mandate but also as a clear warning: our country has no room for these unlawful activities. We will not allow illicit trade to infiltrate our borders at the expense of the welfare of the Filipino people and legitimate businesses,” he added.

and Employment to help shape industry policies and resolve labor disputes.

Lawmakers said journalists serve as frontline providers of public information and watchdogs of accountability, yet many remain among the country’s most precarious workers. Strengthening their labor rights, they added, is essential not only for their welfare but also for the protection of democratic discourse itself.

off at the theme park also resulted in the removal of then CEO Arthur Tai allegedly due to “breach of trust and confidence” and the takeover of a new management led by Sharpe.

A source at SBMEI’s Ocean Adventure said on Monday that the marine park is now under heavy security because of the threat of another management takeover.

THE Ocean Adventure theme park complex in Subic Bay TAKTIKOM

BSP rate cut buys time, but restoring growth requires stronger governance

THE Bangko Sentral ng Pilipinas (BSP) delivered yet another measured response to the economy’s persistent weakness on February 19, 2026, trimming its key rate by 25 basis points to 4.25 percent. With inflation remaining subdued and within target, the Monetary Board had clear room to prioritize growth support without jeopardizing price stability—a pragmatic step given the disappointing 3.0 percent gross domestic product expansion in the fourth quarter of 2025, the weakest non-pandemic quarterly performance in years, which pulled full-year 2025 growth down to just 4.4 percent.

Yet, as Moody’s Analytics pointedly observed in its analysis following the decision, rate cuts alone are reaching their limit in reviving confidence and momentum. “Rate cuts may only mitigate the economic slowdown, but it will take greater transparency, stronger governance, and credible policy direction to restore confidence,” Moody’s said, warning that “the easing cycle is likely nearing its limit.” (Read the BusinessMirror story—Moody’s: Easing alone won’t revive economy, February 24, 2026).

This assessment rings true amid the deeper roots of the current malaise: a sharp erosion of business and consumer sentiment triggered by the high-profile controversy over the misuse of government funds in flood control projects.

The scandal, which erupted in mid-2025 with revelations of billions in potentially substandard, ghost, or misallocated infrastructure spending, has inflicted lasting damage. Public works execution stalled as investigations intensified, anti-corruption scrutiny tightened allocations, and trust in governance plummeted. The fallout contributed directly to the collapse in government spending, delayed investments, and cautious household behavior that dragged down domestic demand in late 2025 and into early 2026. Rizal Commercial Banking Corp. chief economist Michael L. Ricafort captured the broader reality: while lower borrowing costs can spur loans, demand, and catch-up spending, sustainable recovery hinges on “better governance standards and anti-corruption measures.”

Monetary policy has done its part—easing liquidity, lowering financing costs, and signaling support for recovery. The BSP’s actions have helped cushion the blow and positioned the economy for a potential rebound, with official forecasts eyeing growth acceleration to around 4.6 percent in 2026 and higher in 2027. But tools like interest rate adjustments cannot substitute for institutional integrity. The flood control controversy exposed systemic vulnerabilities in project selection, fund disbursement, oversight, and accountability—issues that have undermined investor confidence domestically and internationally, slowed infrastructure momentum, and amplified perceptions of governance risk. Restoring momentum demands more than incremental rate relief. The administration must deliver decisive follow-through: swift resolution of ongoing probes with accountability for those implicated, transparent reforms in public procurement and infrastructure planning, and visible anti-corruption safeguards to rebuild trust. Only then can catch-up spending, renewed private investment, and consumer optimism take hold. Without credible governance renewal, further monetary easing risks diminishing returns, leaving the economy vulnerable to prolonged softness.

The BSP’s latest cut buys time, but true revival requires confronting the governance deficits head-on. It would do well for the country’s leaders to turn lower rates into real growth by rebuilding trust through good governance, smart fiscal policies, and a sustained commitment to institutional reform.

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Foreign debt and Edsa People Power Revolution

EDennis Gorecho

Kuwentong Peyups

DSA People Power Revolution is linked with the foreign debt that led to the Philippine economy’s decline since the 1980s.

In Marcos vs Manglapus, (GR 88211 September 15, 1989), the Supreme Court said that “nor are the woes of the Republic purely political. The accumulated foreign debt and the plunder of the nation attributed to Mr. Marcos and his cronies left the economy devastated.  xxx We cannot ignore the continually increasing burden imposed on the economy by the excessive foreign borrowing during the Marcos regime, which stifles and stagnates development and is one of the root causes of widespread poverty and all its attendant ills.”

Ferdinand Marcos Sr. was the longest-serving president in Philippine history, holding office for over 20 years, from December 30, 1965 until he was ousted on February 25, 1986. His 21-year rule (7,362 days) included a period of martial law from 1972 to 1981, allowing him to stay in power beyond his initial terms. Instead of its promised stability and prosperity, the imposition of Martial Law generated intense social conflicts and a worsening economic crisis.

The foreign debt incurred by the Marcos Sr. regime is one of the biggest obstacles to Philippine economic recovery commonly attributed to the corruption and cronyism.

A group of economists from the University of the Philippines (UP) issued a report titled “Economic Recovery and Long-Run Growth: Agenda and Reforms” that evaluated the economic performance during the martial law years.

The report noted that the Philippines at that time was “one of the

The bloating of the country’s foreign debt can be dramatically illustrated in this manner: Marcos Sr. took out loans especially to fund his “Golden Age of Infrastructure,” with the enormous kickbacks to enrich himself and his cronies. These loans became unpayable because they were pocketed or used by inefficient enterprises. The crippling financial burden ruined the protected, crony-ridden economy.

most heavily indebted countries in the world: seventh in size of debt, sixth in debt to exports ratio, fourth in debt to GDP ratio, and ninth in debt service ratio.”

The UP report went on to say that “most of the projects financed by the foreign loans were unproductive; …not well chosen or were probably chosen precisely to finance capital flight through the overpricing of projects.”

So-called “official development assistance” was “generally tied to projects that were not very high in the country’s priorities or were tied to sources of imports and equipment that are more expensive than com-

petitive suppliers.”

Projects that were financed by the debt were found to be “overpriced, mismanaged, not viable to begin with, or made unviable by changes in exchange rate and the international environment.”

The debt problem was certainly severe and increased 50-fold from $599 million in 1965 when Marcos, Sr. entered Malacañang as president to $28.3 billion when he left as a deposed dictator.

The bloating of the country’s foreign debt can be dramatically illustrated in this manner: Marcos, Sr. took out loans especially to fund his “Golden Age of Infrastructure,” with the enormous kickbacks to enrich himself and his cronies. These loans became unpayable because they were pocketed or used by inefficient enterprises. The crippling financial burden ruined the protected, cronyridden economy. The Supreme Court cases that declared some of the Marcos assets to be “ill-gotten” include $658 million in Republic v. Sandiganbayan, (GR 152154. July 15, 2003); PLDT shares in Yuchengco v. Sandiganbayan (GR 149802, January 20, 2006); $3.37 million in Marcos Jr. v. Republic (GR 189434 April 25, 2012)  and collecSee “Gorecho,” A13

Fishery workers and inclusive development

TEAGLE

HE proverb goes: “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.” It is a proverb that once must have been both literally and figuratively true. In times past when the sea, the lakes, and the rivers were bountiful with fish, it must have seemed like fishing would suffice to provide for families.

Not anymore — these days fisherfolk are among the poorest members of society, and fishing alone is rarely enough to support a family.

Much like the agriculture industry in general, which includes agriculture, forestry, and fishery, the fishery sector is becoming an increasingly smaller part of the Philippine economy. In the past 25 years alone, the share of fishing and aquaculture (fishery subsector) in the country’s gross domestic product (GDP) has shrunk from 1.5 percent to 0.9 percent—equivalent to a 40 percent decline in the relative share of the subsector, according to data from the Philippine Statistics Authority (PSA).

This has of course happened because the fishery subsector has grown much slower than the econ-

omy as a whole. From 2000 to 2025, the fishery subsector only grew by 2.7 percent per year compared 4.9 percent for the entire domestic economy. These contribution and growth already include commercial fishing. If one focused only on municipal fishing and aquaculture, for sure the share will be smaller, and possibly the growth as well. In the most recent Fishery Statistics of the Philippines report of the PSA, commercial fishing was estimated to contribute about a fifth to the total value of production of the fishery sector, while aquaculture and municipal fishing contributed 42.5 percent and 37.1 percent, respectively.

According to the PSA’s labor force survey (LFS), there were about 1.3 million Filipinos whose primary oc-

cupation is fishing, which includes roughly half a million inland and coastal waters fishery workers, about 200,000 deep-sea fishery workers, and half a million fishery and aquaculture laborers. There would be others who are engaged in fishing but not as a primary occupation.

Of the total Filipinos engaged in fishing as a primary occupation (let’s called them fishery workers), as expected most are men (90.3 percent) although a not insignificant number are women (9.7 percent). Deepsea fishery workers and inland and coastal fishery workers are almost all men but there are many women involved in aquaculture, including seaweed production. There is little difference between the age profile of fishery workers and of the total employed workers in general. Among fishery workers, 12.1 percent belong to the youth (1524), 39.4 percent are 25-39 years of age, 43.8 percent are 40-64 years of age, and 4.8 percent are 65 and older. Among all Filipino employed workers, the corresponding numbers are 11.3 percent, 40.7 percent, 42.8 percent, and 5.2 percent.

About 63 percent of fishery workers identify themselves as the household head and thus likely mainly responsible for supporting their families with their fishing work.

The great majority of fishery workers belong to low-income house-

holds. According to PSA’s merged Family Income and Expenditure Survey and LFS data for 2023 (FIESLFS), slightly more than half of fishery workers belong to the poorest 20 percent of households, and close to 80 percent belong to the poorest 40 percent of households. Fishery workers typically have limited opportunity to engage in alternative work because of limited education. According to the same FIES-LFS data, 55.3 percent of fishery workers had at most elementary education and 90.3 percent finished Junior High School at the most. There are fishery workers in all regions, but the highest numbers are to be found in BARMM (16.7 percent of total) and MIMAROPA (13.3 percent). The next highest is Western Visayas (9.4 percent). Among provinces, Palawan has the highest share in fishery workers (10.5 percent), followed by Sulu (6.9 percent) and Tawi-Tawi (5.3 percent). Fishery workers are woefully underemployed. The underemployment rate among fishery workers is 19.9 percent using the same FIES-LFS data, meaning about one in every five want more hours of work, compared to just 13.8 percent for all workers. This is likely related both to wanting more income than they get from fishing and wanting to work more hours. The average hours worked for See “Eagle Watch,”

Ambassador Antonio L. Cabangon Chua

WATCH

Dr. Geoffrey Ducanes

Clarifying PHL’s datadriven, rule-guided approach to minimum wage determination

IN reference to the February 13, 2026 BusinessMirror article entitled “Minimum wage determination” authored by Dr. Geoffrey Ducanes and Ms. Florinda Grace Asis, may we share the following comments:

1. The article provides a concise overview of the minimum wage policy in the Philippines, noting that while the policy itself is generally accepted, concerns are often raised regarding the perceived unpredictability of wage adjustments. It also examines wage setting mechanisms in Indonesia and Malaysia, highlighting that Indonesia adopts a mathematical formula incorporating inflation, provincial economic growth, and labor’s contribution to growth, while Malaysia utilizes a formula that considers labor productivity, inflation, and regional unemployment rates as guideposts for deliberation. The article concludes by raising the question of whether a similar formula-based approach could make minimum wage adjustments in the Philippines less contentious.

On this, may we clarify that the Philippines’ minimum wage determination system already employs socio-economic indicators and quantitative models as preliminary inputs for the Regional Tripartite Wages and Productivity Boards (RTWPBs) in their deliberations on wage adjustments. While Republic Act (RA) No. 6727 does not prescribe a single rigid formula, the process is structured, data-driven, and aligned with internationally recognized standards, including ILO Convention No. 131 (Minimum Wage Fixing Convention, 1970), which emphasizes the consideration of economic development, cost of living, and country-specific conditions in wage determination.

2. Pursuant to RA 6727, the RTWPBs are guided by 10 criteria, which may be broadly grouped into the: (i) needs of workers and their families; (ii) capacity of employers to pay; and (iii) requirements of economic and social development. To operationalize these criteria, the RTWPBs utilize a range of proxy indicators, including among others:

a. Needs of Workers and their Families

n Inflation rate.

n Purchasing power of the peso.

n Ratio of the estimated real daily poverty threshold to the average real minimum wage.

b. Capacity of Employers to Pay

n Average wage levels.

n Investments and business expansion trends.

n Real labor productivity.

n omparative nominal and real

fishery workers in the past week of the survey is only 35.6 compared 42 hours worked for all workers, and for deep-sea and municipal fishermen is highly dependent on the weather and the season.

Fishery workers and their families appear to be one of the subgroups of Filipinos left behind in the country’s development.

A 2024 judicial ruling that allowed commercial fishing vessels to operate within municipal waters (beyond a certain depth) further disadvantages small-scale fisherfolk operating in those same waters who typically use small boats.

Fishery workers were in the news recently following the filing by Senator Loren Legarda of a bill to re-declare the 15-kilometers municipal waters as exclusively reserved for municipal or small-scale fisherfolk, as well as providing them other economic support, such as cold storage and processing facilities, and fuel subsidies.

MAIL

wages across regions and ASEAN economies.

c. Requirements of Economic and Social Development

n Gross Regional Domestic Product (GRDP)/Gross Value Added (GVA) growth rates.

n Unemployment and underemployment rates.

n Percentage of establishments restructuring or closing for economic reasons.

n Concentration of businesses in a region, based on Census of Establishments data.

The RTWPBs regularly assess regional socio-economic conditions by monitoring historical trends and forward-looking economic outlooks, and adhere to the policy of moderate, regular, and predictable minimum wage increases to safeguard the wellbeing of workers and their families, while providing enterprises with a stable planning horizon to support sound business planning, price stability, investment, and job creation.

They also maintain close coordination with key government agencies, including the Department of Economy, Planning and Development, Department of Trade and Industry, Bangko Sentral ng Pilipinas, Department of Agriculture, Department of Energy, and the Philippine Statistics Authority to ensure the use of official and up-to-date data.

3. Finally, to further strengthen evidence-based decision-making, continuous capacity-building programs on labor economics, wage modeling, and the use of statistical tools are regularly conducted for the members of the Commission and the RTWPBs, as well as for their respective Secretariats. These initiatives support informed deliberation, effective monitoring, and careful assessment of the potential labor market and economic impacts of wage adjustments.

We hope the foregoing clarifications contribute constructively to the ongoing public discourse on minimum wage determination.

Maria Criselda R. Sy Executive Director IV National Wages and Productivity Commission

It is common practice in many countries to have preferential access areas for small-scale fisherfolk. A recent study published in the journal Ocean Sustainability identified 44 such countries and found that, if properly enforced through shared governance with fishers and responsible fishing practices, such preferential access policies could help provide economic and employment benefits as well as nutrition security to people living in coastal areas. It seems like a good way to support fishing-dependent families, although this should be done alongside capacitating them, especially their next-generation members, to expand their occupational options in the future. This is made urgent by the continuing challenges in the fishing sector, including climate change, which is expected to make fishing riskier and less productive in the future.

Dr. Geoffrey Ducanes is

Development.

Writing the Memoirs of a Proto-Eventologist

NTito Genova Valiente

ANNOTATIONS

O planner of events begins from childhood nor from early youth. The young mind is preoccupied with his body that each day seems to expand faster than his desires. But the events or processes or rituals that had been observed, recorded with wily eyes and memories involve human planning, sometimes instinctive reactions to self-importance, however bloated and undeserved.

The organizations involved in this public confession will remain disguised not because the author fears a backlash; far from it, I refuse to imbue said entities with mystery for they have always thrived—corrupt- in the light. I do not know what power they could whip up when their members have become shadows. Suffice it to say that one of these institutions could carry the name “Department of Cultures, Manners and Social Classes.”

The misadventure began in a small town that prided itself for being enchanted. The island, in fact, was noted for its people believing that the island sometimes vanished. This from the perspective of merchant marines, fishermen and sailors. The irony of this tale was that during those moments of disappearance, the corrupt officials of the water land or, at least, their acts, did not vanish. When the island was seen again, everyone was accounted for. As if nothing happened.

Every year, the Big Bosses of this institution paid a visit to their small offices, including those found in farflung areas, including this island. A formal name had been given to the annual ritual—it was called simply “Evaluation.” While it involved a physical visit of the powers-thatbe, the energy of the rank-and-file workers was expended on what and how to feed these evaluators. On this island, lechon was the ultimate dish to garnish a banquet table. And the rule was to up the ante. I have heard of duplicate pigs kept somewhere for the evaluators to bring home, after

Indonesia

Ithey were forced to do so by the hosts. In the end, the process was called “Eval-Eat.”

I recall all this with political regrets (I was too young to see through the ruse), tempered with nostalgia. With my grandparents’ home close to the site of evaluation, a transformation would happen to the site of Evaluation. What used to be a drab, unpainted corridor would, overnight, be turned into a space with curtains, it’s space interesting with paintings of reproductions: grapes gaudily dripping from the wall, oranges luscious as the sweat upon the poor foreheads of those “ebalwayted.” Then the sofa and settee would materialize below the pastoral scenes —all on loan from the gracious sala of Emilia, my “Lola.”

Around the building would be a profusion of potted plants courtesy of houses in the neighborhood, their yards now stripped of greens all for the sake of “Eval-Eat.”

These memories would come flashing through, years and years from this island of enchantment. As the gods would do it, the event would happen on another island, much bigger but with no claim to hyper-magic. Apparently, they create their own charm.

We were there to discuss Philippine-Japan relations and the concomitant topics like Comparative Cultures, etc. The whole event was almost leisurely structured and, by the afternoon, we were free. After a hearty lunch, a guide was provided for us. He regaled us with one fact —that we could circle the island the

whole afternoon. We accepted the challenge. After some three hours, I noticed the driver of our car deliberately slowing down. After another hour, we sensed that he was, with the guide, waiting for the sun to set. What’s with the sunset?

It was already dark when we reached the resort where we were to have our dinner. From the gate, I could hear the beating of tom-toms and small drums. The thuds were getting stronger as our eyes got accustomed to the shadows, then we realized we were looking at torches carried by small boys. Were they swaying or were those torches being tossed up and down? Like in those MGM musicales, we (there were two of us) were pulled in, and made to sit on a throne. A folk practice of praying over visitors or strangers was initiated. A wreath of blossoms and local flowers were placed around our head. The song went on and on. It was moving. It was also eerie.

The lights were turned on and two officials from this august office were called on to the makeshift stage. They were to do a duet. Quickly, they put their arms around each other like the vaudeville artists of yore. In a crystal-clear, sharp harmony, they swung it like the Andrews Sisters,

minus one member.

How did a young PR officer in a republic under martial law plan a welcome for the most powerful woman in the archipelago? I was in my twenties then. We were not terrified of the dictator but we were easily petrified by the sight of the other member of the Conjugal Dictatorship. One day, she sent via the radio of a quasi-government corporation a command that she was coming in two or three days.

A day before her arrival, trucks from Manila arrived, filled with placards. On these placards were written messages of love, loyalty, and gratitude from the people. When the day arrived, I went around the neighboring villages and with my megaphone asked for those willing to welcome Her. For the volunteers, a free cap and fifty pesos (a substantial amount in the late 70s) would be given.

My coup for this event was to enlist a trio singing local folk songs and ask them to wait at the foot of the air stair or the stairs attached to the plane. Once she was out of the plane, the trio began to sing a local folk song. She beamed with a smile.

E-mail: titovaliente@yahoo.com

raises $4.5 billion to defy fiscal health concerns

By Harry Suhartono & Prima Wirayani

NDONESIA pulled off its biggest global bond sale since at least 2017, overcoming the threat of a credit rating downgrade and signaling easing investor concerns about fiscal woes in Southeast Asia’s largest economy.

The country raised €2.7 billion ($3.2 billion) via euro-denominated debt, as well as 9.25 billion in offshore yuan ($1.3 billion), according to people familiar with the matter who requested anonymity discussing private matters. The euro portion drew €9.2 billion of orders excluding underwriters’ bids, one of the people said.

Reflecting the strong 3.4-time demand ratio, Indonesia priced the three-part euro offering at lower risk premiums over benchmark rates than initially sought. Its offshore yuan notes also saw similar tightening in credit spreads.

The dual-currency debt sale shows Indonesia’s ability to tap global markets with relatively competitive borrowing costs and healthy demand, even as worries about its fiscal health have roiled the country’s assets in recent months. It came after the nation posted a rare bud-

Gorecho.

. . continued from A12

tion of jewelry Estate of Marcos v. Republic (GR 213027 January 18, 2017).

Existing data noted that the outstanding aggregate debt during per term reached P870 billion under Cory Aquino; P1.496 trillion under Ramos;  P2.385 trillion under Estrada; P4.718 trillion under Arroyo; P6.09 trillion under Aquino III, P12.79trillion under Duterte.

get deficit in January and followed Moody’s Ratings’ decision to lower Indonesia’s credit outlook to negative earlier this month.

“The nation’s stable and strong credit metrics have contributed to the strong demand for these offshore notes despite recent warnings from rating agencies on the country’s finances, “ according to Timothy Tan, Bloomberg Intelligence’s chief Asia fixed income and credit strategist. “Spreads of Indonesia dollar bonds didn’t materially widen against peers like the Philippines.”

The latest bond sale shows global investor confidence has started recovering since the decision by Moody’s. It also followed the worst selloff in Indonesian stocks in nearly three decades last month after MSCI Inc. warned of lowering the nation’s equity market to frontier status.

When Moody’s cut Indonesia’s

Forty years after Edsa, independent think tank Ibon Foundation said the Philippines’ total debt as of November 2025 has reached P17.6 trillion under the administration of President Ferdinand “Bongbong” Marcos Jr. Since Marcos Jr. assumed office on June 30, 2022, the country’s debt has surged by 38 percent from P12.8 trillion at the end of the Duterte administration.  The Marcos administration has been borrowing an average of P118.4

The dual-currency debt sale shows Indonesia’s ability to tap global markets with relatively competitive borrowing costs and healthy demand, even as worries about its fiscal health have roiled the country’s assets in recent months. It came after the nation posted a rare budget deficit in January and followed Moody’s Ratings’ decision to lower Indonesia’s credit outlook to negative earlier this month.

Baa2 rating outlook, it warned of cutting the actual rating if there is a sustained increase in the budget deficit, prolonged currency depreciation or capital flows, or a material weakening of state-owned firms. Such a downgrade would be the first by Moody’s since 1998 in the depths of the Asian financial crisis, when the country needed a bailout from the International Monetary Fund. Indonesia recorded a fiscal deficit of 54.6 trillion rupiah ($3.25 billion) last month, equivalent to 0.21 percent of gross domestic product.

billion per month—the highest compared to P95.1 billion monthly under Duterte, P19 billion under Aquino, and P21.2 billion under Arroyo. While domestic debt is the majority, foreign debt continues to rise, with about 30.8 percent of the total debt (P5.32 trillion) in foreign currency as of late 2024. Practically all or 99.5 percent of taxes the government collected went to servicing its debt.

With a population of 112.7 million, each Filipino carries a debt of

Post-pandemic, the government has typically posted a surplus in the first month of the year, when tax revenues are strong and projects are just getting started.

The country’s fiscal deficit is likely to widen well beyond its legal limit this year as the government ramps up spending on its nationwide free meals program and the rebuilding of flood-hit provinces in Sumatra island, according to Citigroup Inc. The offshore yuan notes were another highlight as the offering marked Indonesia’s return to the socalled dim sum bond market after its debut sale in October. Borrowing appetite for such debt has been strong globally as the funding costs are hovering near record lows.   Issuance of dim sum bonds has boomed in recent years, signaling the yuan’s growing popularity in global finance as President Donald Trump’s tariff war and unpredictable policies weaken the appeal of dollar assets. Beijing has been encouraging such offshore bond sales as a crucial driver of its long-term ambition to turn the yuan into a major world currency. With assistance from Grace Sihombing and Abraham Gonzalez /Bloomberg

P156,552. Among 27.5 million families, each Filipino family owes P642,000 as part of the Philippine total debt. Unless corrected, IBON said that the debt  consequences will persist to burden generations of Filipinos to come.

Peyups is

Associate Professor at the Ateneo de Manila University and the Director of the Ateneo Center for Economic Research and

Friday, February 27, 2026

2nd Front

BusinessMirror

YOUNG TRAVELERS POWER GROWTH OF SPORTS TOURISM

By Ma. Stella F. Arnaldo Special to the BusinessMirror

SPORTS tourism is becoming a huge business for many countries, with Millennial and Gen-Z fans fueling most of the travel. Still, visitor data shows the Philippines lagging in this growing tourism category.

Cup, the Winter Olympics and the IC-

CAccording to the latest survey of YouGov, “Traveling for sports events is an international phenomenon, with four in 10 consumers across 17 markets having done so.” The survey also found that 45 percent of the respondents were Millennials (born 1981-1996), who said they have traveled for sport events, followed by Gen-Z (born 19972012), at 40 percent.

The survey was conducted from November 14 to December 12, 2025, across 17 markets: Australia, Canada, Denmark, France, Germany, Great Britain, Hong Kong, India, Indonesia, Italy, Mexico, Poland, Singapore, Spain, Sweden, the United Arab Emirates, and the United States.

Residents from the UAE residents (57 percent) were most likely to have traveled to attend a sports event, followed by Mexicans and Indonesians, at 49 percent each,

and India, 48 percent. Australians, which ranked fifth among the major sports travelers, topped the list of Gen Z and Millennials.

An average of 26 percent across the markets surveyed said they plan to take a sports leisure trip over the next 12 months (January to December, 2026), the survey showed, attracted by single-sport international events like the FIFA or Rugby World Cups.

PHL unable to up its game

IN Italy, for instance, 2 million visitors were projected to have attended the Winter Olympics, which ran from February 6 to 22, 2026. Other major global events that will dominate sports headlines this year include the FIFA World Cup (June 11-July 19), the ICC T20 World Cups (ongoing until March 8), Formula 1 World Championships, Tour de France (July 4-26), the Asian Games (September), to name a few.

The Philippines has been trying to up its game in sports tourism, but previous efforts have been stymied by lack of adequate marketing.

In January 2026, for instance, the country received 692,590 visitors from abroad, just 0.84 percent higher year-on-year (yoy), even though it hosted the first Phlippines

Banking sector assets soar to record ₧29.8T at end-Dec

By Andrea E. San Juan @andreasanjuan

STRONG

deposits, remittances and “sound” capital buffers drove the assets of the Philippine banking sector to a record high of P29.830 trillion as of the end of December 2025.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed bank assets amounted to P29.830 trillion as of end-December 2025, up by 3.86 percent from P28.721 trillion as of endNovember 2025.

Compared to a year ago, assets held by the Philippine banking system rose by 8.75 percent from P27.431 trillion.

According to Robert Dan Roces, group economist at SM Investments Corporation, the growth in the assets of the country’s banking sector was supported by “steady domestic demand, easing inflation, and stable funding conditions.”

Roces added: “Strong deposits, remittances, and sound capital buffers gave banks room to expand their balance sheets without taking on excessive risk.”

He also pointed out that loan demand improved as borrowing

costs stabilized, while banks also increased investments in “higheryielding” securities.

Rizal Commercial Banking Corp. (RCBC) chief economist Michael L. Ricafort said the sustained doubledigit growth in bank loans of at least 10 percent year-on-year in recent months “largely led to the faster growth in banks’ total assets/resources.”

The 10 percent growth rate in bank loans, which he said is twice the average GDP growth of 4.4 percent in 2025, can be attributed to lower interest rates set by the BSP, now totaling -2.25 percentage points since August 2024.

“That reduced borrowing costs/ funding costs and increased demand for loans/credit, especially consumer loans that consistently grew by more than +20 percent or more than twice the industry average and more than 4 times faster

than GDP growth,” added the RCBC chief economist.

Ricafort also pointed to the “total cut” in the large banks’ Reserve Requirement Ratio (RRR) by more than -4.50 percentage points since October 2024.

This, he said, infused more than P700 billion into the banking system which “fundamentally” increased the loanable and investible funds by banks, as well as reduced intermediation costs that further reduced borrowing costs/funding costs that, in turn, increased demand for loans/credit.

“For the coming months, further cuts in Fed rates, BSP rates, and large banks’ RRR rates could further sustain faster growth in banks’ total assets/resources; as well as sustained growth in bank deposits, net income/earnings,” Ricafort pointed out.

Data showed, however, that bank assets grew slower month-onmonth but slightly faster year-onyear than liabilities.

Liabilities of the banking sector stood at P26.165 trillion as of endDecember 2025, or 4.37 percent higher from P25.070 trillion as of end-November 2025.

Bank liabilities also recorded an 8.74-percent increase from the P24.061 trillion recorded as of endDecember 2024.

The growth of bank assets was supported by the net total loan

portfolio (TLP), which grew by 11.80 percent year-on-year to P16.594 trillion as of end-December from P14.843 trillion. The net real and other properties acquired (ROPA) likewise jumped by 17.48 percent to P138.102 billion as of end-December 2025 from P117.557 billion in the same period a

that

of banks expanded by

as of

to P2.310

from 1.959 trillion in the previous

Moreover, the net total investments of banks also increased by 10.44 percent year-on-year to P8.580 trillion as of end-December 2025 from P7.769 trillion. Cash and due from banks, meanwhile, dropped by 19.52 percent to P2.207 trillion as of end-December 2025 from P2.741 trillion in the prior

SEA green energy plan to get $4M

By Justine Xyrah Garcia

OVER $4 million in initial funding has been pledged for a United Nationsbacked program aimed at helping Southeast Asia, including the Philippines, shift to cleaner energy without slowing economic growth.

The UN Economic and Social Commission for Asia and the Pacific (Escap) said the threeyear Energy Transition for Green Growth and Prosperity initiative, set to begin in 2026, will be supported by pledges from ClimateWorks Foundation, Sequoia Climate Foundation, Children’s Investment Fund Foundation and Tara Climate Foundation.

Escap said the program will focus on strengthening long-term energy and industrial planning, expanding regional power interconnections and mobilizing more green finance.

It will initially roll out in Southeast Asia, where Escap said it aims to help governments align climate

targets with job creation and industrial growth while developing a pipeline of investment-ready clean energy projects.

Escap Executive Secretary Armida Salsiah Alisjahbana said governments in the region are under pressure to cut emissions while keeping economies stable and competitive.

“Countries around the region are considering how to reduce emissions while safeguarding growth, jobs, economic resilience and social inclusion. Governments must navigate this transition under multiple constraints— legacy infrastructure, limited fiscal space, evolving regulatory environments, varying institutional capacity, and persistent financing gaps,” Alisjahbana said. Data from Escap showed that the Asia-Pacific accounts for about 60 percent of global greenhouse gas emissions and produces roughly 80 percent of the world’s coal. At the same time, the region’s energy demand is projected to

continue rising sharply in the coming decades.

In 2024, the Climate Change Performance Index also noted that renewable energy development in Southeast Asia remains weak, with most countries scoring poorly in terms of the share of renewables in their energy mix.

Only Vietnam and Indonesia received a medium rating, scoring 10.6 and 10.5, respectively. The Philippines scored 6.6 and was rated low, followed by Malaysia at 6.1 and Thailand at 4.7.

Escap said it expects the initiative to improve policy coordination, strengthen investment readiness and expand access to public and private capital for clean energy and related infrastructure.

“Lessons from participating countries will shape regional energy policy dialogue, supporting governments to accelerate energy transitions and strengthen cooperation on clean energy, grids and enabling finance across Asia and the Pacific,” it added.

Editor: Jennifer A. Ng

Companies

BusinessMirror

B1 Friday, February 27, 2026

PLDT: Data centers could serve as growth catalysts

By Lorenz S. Marasigan @lorenzmarasigan

PLDT Inc. has firmly ruled out ceding majority control of its data center business to any third party, as it continues to review the rules of listing it as a real estate investment trust (REIT).

Danny Yu, the company’s CFO, described the surrender of majority shareholding as “non-negotiable right now.”

“It’s clear for us that if we want to take this route of monetizing our asset, selling it to an interested third party for a majority is not going to happen,” Vitro Inc. President Victor Genuino added. “We want to keep control of our assets because we think this is going to be a catalyst for growth.”

Genuino noted that the company is now reviewing new Securities and Exchange Commission (SEC) rules on classifying data centers under the REIT framework.

Under existing rules, only mature assets—similar to real estate—would be eligible for listing.

“Which means that from our nine data centers, what we can list are data centers that have been operational for more than three years,” he said. “We have to make a decision whether that’s a path that we want to take.”

The company has weighed the structure at least twice before— first in 2024 when Chairman Manuel V. Pangilinan floated it as a fallback should equity talks with NTT of Japan fall through, and again in 2025 as the company sought to reduce debt and build liquidity buffers.

Those NTT negotiations eventually collapsed over the same ownership dispute.

The data center divestment has been valued at around $1 billion.

Financial results

DESPITE closing 2025 with record service revenues, the telco giant posted a 7-percent decline in net income due to lower non-core gains and higher non-recurring charges.

Reported net income attributable to PLDT equity holders fell 7 percent to P30 billion in 2025 from P32.3 billion the year prior, reflecting what the company described as lower non-core gains and higher non-recurring charges.

Consolidated gross service revenues grew 2 percent to P212.2 billion for the full year, while net service revenues—stripped of interconnection costs—rose 1 percent to a record P196.2 billion.

PLDT’s wireless consumer business generated P85.0 billion in revenues, up 1 percent year-on-year with fixed wireless access (FWA) revenues surging 22 percent. Total data traffic rose 7 percent to 5,914 petabytes, while active data users reached 43.2 million at yearend.

PLDT Home posted record revenues of P61 billion, up 3 percent, driven by a 6 percent rise in fiber revenues to P59.4 billion. Fiber now accounts for 98 percent of total home revenues.

PLDT Enterprise also achieved record revenues of P48.4 billion, up

1 percent. Corporate Data and ICT revenues grew 3 percent to P36.3 billion, representing 75 percent of enterprise revenues.

The data center unit ePLDT Inc. and Vitro posted combined revenues of P6.5 billion, up 22 percent.

Digital financial services arm Maya Holdings Inc. capped the year with its first full-year profit, posting net income of P1.7 billion. Deposit balances reached approximately P68 billion, up 72 percent year-on-year, while total loans disbursed since 2022 rose to P256 billion.

Core income—which strips out the effects of foreign exchange movements, derivative transactions, and mandatory retirement plan expenses—improved 1 percent to P34.6 billion, buoyed by Maya’s first full year of profitability.

Telco core income, however, which excludes the equity share in Maya, declined 3 percent to P33.9 billion.

Total expenses rose a modest 1 percent to P168.0 billion.

For 2026, PLDT expects capital expenditures to remain in the midP50 billion range.

S‘MGENR not keen on SPNEC shares’ New attractions will bring more shoppers to SM malls—exec

TBy Lenie Lectura @llectura

HE group of businessman

Manuel V. Pangilinan is not going to buy the remaining shares of Batangas Representative Leandro Leviste in SP New Energy Corp. (SPNEC), which is now called MGen Renewable Energy Holdings Inc. (MGENR).

Currently, SPNEC is 57.33 percent owned by MGENR, 16.30 percent by Solar Philippines Power Project Holdings Inc. (SPPHI), and 3.2 percent by Metro Pacific Investments Corp. (MPIC). The remaining shares are publicly owned. SPPHI was founded by Leviste. According to Pangilinan, Leviste is in talks with a foreign entity that is interested in Leandro’s remaining 16.3-percent stake in SPNEC.

“Lean is talking to a foreign investor to unload his shares. That’s all we know,” said Pangilinan, who sits as chairman for both MGen and MPIC. “We don’t need to (buy more shares) because we are majority already in SPNEC…Actually, we introduced this foreign investor to Lean. I think he’s fairly serious about selling.” Leviste resigned as director of SPNEC. He caught the ire of lawmakers and some government officials mainly due to his anti-corruption campaign.

“The intended company name change forms part of MGen’s ongoing rebranding initiative which started in August 2025. It aims to strengthen alignment and consistency across the One MGen group as it presents a unified identity for its diversified power generation portfolio, including renewable energy [RE],” MGen, the power generation arm of Meralco, had said.

Also, MGen said the move is meant to enhance clarity and ease of identification for stakeholders and does not involve any changes

to SPNEC’s ownership structure, operations, or existing RE projects.

“SPNEC will continue to operate

as usual and further updates will be provided as necessary, subject to the approval of the company’s stockholders and SEC.”

Pag-IBIG Fund investment income jumps nearly 50% to P9.43 billion in 2025; assets hit P1.23 trillion

PAG -IBIG Fund said its investment income rose nearly 50% to P9.43 billion in 2025, reinforcing the agency’s strong fiscal position and helping sustain affordable home financing and growing member savings, officials said Wednesday (Feb. 25).

The stronger investment earnings helped lift Pag-IBIG Fund’s overall financial standing. At yearend 2025, the agency’s total assets rose to P1.23 trillion, while its gross investment portfolio increased to P190.13 billion, up P55.27 billion or 41.0% from year-end 2024. A large portion of the portfolio was invested in government securities, with the remainder placed in time deposits, corporate bonds and preferred shares, officials said, adding that these instruments undergo rigorous review and are subject to established safeguards.

“Pag-IBIG Fund’s investment growth demonstrates our commitment to responsible stewardship of our members’ savings,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon P. Aliling, who also chairs the Pag-IBIG Fund Board of Trustees. “Through sound governance and prudent financial management, we continue to strengthen Pag-IBIG Fund’s financial position and secure its long-term stability. This allows us to grow our members’ savings, deliver competitive returns, and sustain affordable home loans under the Expanded 4PH program. In doing so, we answer President Ferdinand R. Marcos Jr.’s call for government to deliver benefits and services to help uplift the lives of more Filipinos.”

Of Pag-IBIG Fund’s total assets as of year-end, housing-related assets accounted for P922.07 billion, while P96.41 billion were in shortterm loans. Income-generating investments totaled P190.00 billion,

with the remaining P25.98 billion in other assets such as property and equipment, cash, and intangible assets.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized that investment decisions are undertaken within a strong governance framework designed to protect members’ savings.

“It is our responsibility to manage and grow the Filipino workers’ fund with prudence and integrity,” Acosta said. “All our investments are lawful, prudent, and fully compliant with our internal protocols and Board-granted authorities, with regular reporting to the Board to ensure transparency and accountability. Our members can be assured that every peso is managed with the highest regard for safety, sustainability, and their best interest.”

Acosta said stronger investment income supports Pag-IBIG Fund’s mandate of delivering competitive returns to members while sustaining housing and short-term loan programs nationwide.

“Every peso entrusted to PagIBIG Fund must be managed with safety, sustainability, and long-term value in mind. When we invest well, members benefit through stronger dividends, and more Filipino families benefit through affordable home financing,” she added.

Under its Charter, Pag-IBIG Fund returns at least 70% of its annual net income to members as dividends. In 2024, the agency declared dividend rates of 6.60% for Regular Savings and 7.10% for Modified PagIBIG 2 (MP2) Savings, its highest since the pandemic. Pag-IBIG Fund is expected to announce its 2025 dividend rates on Friday, Feb. 27. Pag-IBIG Fund said it remains focused on growing members’ savings while keeping home financing within reach of more Filipino families.

By VG Cabuag @villygc

M Prime Holdings Inc. on

Thursday said it expects foot traffic in its shopping malls to remain resilient this year due to the launch of new destination concepts.

SM Supermalls President Steven T. Tan said the company is adding more attractions to its facilities to attract more people, such as Southeast Asia’s first adidas Football Park and Adidas Football Specialty Store, alongside the debut of Pop Mart’s first permanent Philippine store at SM Megamall. Both attractions were launched in late December.

“This year, we are bringing in new concepts that reflect how customers live, so every SM mall continues to feel personal, meaningful and worth returning to,” Tan said.

The company said it is expecting this year to continue its high foot traffic, which should convert into sales.

It said the seasonal activities could help drive people to its malls, such as the return of the Philippine

Pyro Musical competition again in March and major relaunches in the second quarter for its consumer products as well as a corporate campaign.

“So, we are looking at, we are being very resilient. We are very confident that we will be able to maintain particularly the foot traffic, particularly and the amount of sales that we are getting.”

The company also launched a roadmap to deliver one flagship mall every year until 2030 alongside large-scale redevelopment initiatives across SM’s network of 89 malls.

SM’s shopping malls averaged 115 million visits a month across its nationwide network last year.

Monthly foot traffic peaked at 153 million in December, typically the busiest period for retail centers. During the Christmas month, daily visits averaged 5.5 million on weekends and 4.6 million on weekdays.

Total mall visits reached 1.4 billion for the year, reflecting steady consumer activity despite challenging economic conditions and weather-related disruptions, the company said.

In prep for new economic ranking, PHL opts for ODA

THE Philippines is set to sign $10.3 billion worth of official development assistance (ODA) loans from Japan, South Korea, and France as it prepares for reduced access to concessional financing once it becomes an uppermiddle-income country.

In a news briefing last Thursday, Finance Secretary Frederick D. Go said there are 25 ODAs in the pipeline, targeted to be signed within 2026.

There will be 10 loans totaling $6.2 billion from Korea and five loans amounting to EUR 1.529 billion ($1.836 billion) from France expected to be signed within the year.

Japan will also extend 10 loans worth JPY 354.31 billion, targeted for signing by March next year.

“We will be less reliant on concessional loans once the country moves into the upper-middle-class standard of the World Bank. So we will have to find other sources of financing,” Go said.

As the Philippines moves towards becoming a UMIC, it may have implications for its access to ODA financing.

Go said the government will depend on public-private partnerships (PPPs to fund major projects in infrastructure, climate change, sustainability, energy, and agriculture.

This shift has prompted the administration to push for reforms such as the PPP law and ease of doing business to help mobilize private sector investments.

WHY do associations matter today?

In a recent episode of “A PCAAE Podcast: Association Matters,” we spoke with Dr. Karen Bautista, immediate past president of the Philippine Association of Agriculturists (PAA), to explore the question from the lens of a professional association.

Our discussion highlighted how associations do more than convene members; they elevate professions, influence policy, and strengthen national development. Here are the key takeaways from our conversation:

The PAA is the accredited integrated professional organization recognized by the Professional Regulation Commission, representing more than 50,000 registered agriculturists from across the country. These professionals serve in government agencies, local government units, research institutions, universities, and the private sector. They design agricultural programs, conduct research, teach future agriculturists, and support farmers and agribusinesses nationwide.

One major insight from Dr. Bautista was how sustained advocacy can reshape an entire profession.

After years of policy engagement, two landmark achievements were realized under the administration of Ferdinand R. Marcos Jr. The first is Presidential Proclamation 544 declaring July as Philippine Agriculturist Month, symbolically recognizing the profession’s role in nation-building. Second, the longawaited professional regulatory law for agriculturists was passed, giving the profession its own legal framework among the country’s recognized professions.

The reform has practical and symbolic impact. It sets qualification standards, protects professional titles, expands employment opportunities, and ensures that agriculturist positions are filled by registered practitioners. For many members, the ability to legally append their professional title to their names represents long-overdue recognition.

“With more than 200 infrastructure projects being offered under PPP, these will have to become the alternative to concessional loans,” Go said.

Banking&Finance SSS eyes to invest overseas to prolong pension fund life

AIIB cooperation MEANWHILE, Go said the Philippines and the Asian Infrastructure Investment Bank are discussing two major projects for possible approval this year.

These include the Luzon Digital Connectivity project, estimated at around $500 million and to be implemented with the Department of Information and Communications Technology (DICT). The second is the proposed Metro Manila Sponge City project, worth about $150 million.

The flood-control project will be coordinated with the Metropolitan Manila Development Authority (MMDA) and aims to improve water retention and mitigate flooding in the capital region.

“But of course, nothing is certain [yet],” Go said. “We’re still discussing with AIIB together with DICT and MMDA.”

There are also five to six other possible projects in the pipeline that are being considered, Go added.

He noted that previous AIIBfunded projects, including the Laguna Lakeshore Road Network and the Facility for Accelerating Studies for Infrastructure, were approved by the bank in 2024 and cleared locally in 2025. Reine Juvierre S. Alberto

Why Associations Matter Today: Perspective from a Professional

Beyond advocacy, PAA has modernized its operations including digitalizing membership systems, strengthening data security, and expanding programs in continuing professional development, communication, and corporate social responsibility. Much of this work is powered by volunteer leaders committed to serving the profession without honorarium.

Still, challenges remain. Enrollment in agriculture degree programs is declining, threatening the future pipeline of professionals. To address this, PAA is strengthening partnerships with education agencies like the Department of Education and the Commission on Higher Education, and conceptualizing youthfocused initiatives in universities.

Sustaining engagement among existing members through accessible training and webinars is also a strategic priority.

Encouragingly, PAA’s growing visibility has opened new opportunities. The association is now invited to participate in technical working groups and policy consultations, shaping legislation and agricultural programs at national level.

From my conversation with Dr. Bautista, one thing stands out: professional associations matter because they safeguard standards, advocate for recognition, and prepare the next generation.

In the case of agriculturists, strengthening the profession ultimately strengthens food security and national resilience. And that is impact far beyond membership; it is nation building in action.

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

bobby@ pcaae.org.

TBy Reine Juvierre Alberto @reine_alberto

HE Social Security System (SSS) plans entering foreign markets for the first time through investments in overseas exchange-traded funds (ETFs) to prolong the life of its pension fund sans hiking members’ contributions.

After its reserve fund breached the P1-trillion mark last year—at exactly P1.065 trillion—SSS President and CEO Robert Joseph M. de Claro said they began studying international investments.

De Claro said while all investments of the SSS are local, its charter allows the state-run pension fund manager it can invest up to 7.5 percent of its reserve fund abroad.

“This [Charter provision] enables us [to do so]. Maybe this will jumpstart our investments abroad,

but with the objective of attracting also investors going to the Philippines; partnering with SSS to invest also in our country,” the SSS chief added.

The initial plan will deploy about 1 percent of the reserve funds of the SSS into foreign investment this year, with ETFs among the instruments being considered, a person familiar with the plans told the BusinessMirror.

The investment could reach about $90 million, or roughly P10 billion,

during the first year, added the person working for the SSS.

The amount of money SSS will invest in the global market could be gradually increased, Francisco said, but is still subject to legal and policy guidelines under the SSS charter.

“I think we’ll be able to draw 1 percent this year and then escalate moving forward,” according to the person familiar with the matter.

Fund life ‘very lengthy’

THE fund life of the SSS was shortened to last until 2049 from 2053 due to the implementation of the SSS Pension Reform Program, which will increase the pensions starting 2025 to 2027.

“It’s very safe today, at 25 years,” de Claro said. “More importantly, the 25-year fund life is already very lengthy.”

What is crucial, de Claro said, is that when SSS earns, it can improve the benefits for its pensioners.

Investment quality remains the main factor in ensuring the sustainability of SSS’ fund life, according to Finance Secretary Frederick D. Go

“The life of the fund is dependent on the quality of investments,” Go said. “That is the key.” No increase

DESPITE the implementation of pension increases for three consecutive years, de Claro stressed that there are no plans to raise member contributions.

“There will be no increase in contributions,” de Claro said. “Until 2027, there will be no contribution hike.”

The last increase took effect last January 2025 as part of the final tranche under the Republic Act 11199 or the revised SSS Law.

Asked about what would happen after 2027, de Claro said any changes would depend on Congress.

“By 2029, the SSS law would be 10 years old. So it’s up to Congress, probably, to review at that point in time whether or not there will be increases in contribution,” de Claro said. “But as of today, there is no foreseen increase in contributions.”

“It’s not on the agenda, it’s not being discussed,” he added.

Core lending biz drove up Chinabank’s income

By VG Cabuag @villygc

CHINA Banking Corp. revealed last Thursday that its net income last year grew 13 percent to P28 billion from the previous year’s P24.8 billion.

The bank said the growth was driven by its core businesses, translating to a return on equity of 15.6 percent and a return on assets of 1.6 percent.

“The bank’s core lending business served as a primary engine for growth, with interest income climbing 12 percent to P105.2 billion, fueled by strong demand across various loan segments,” it said.

The lender said sustained deposits growth and a more favorable deposit mix helped temper the increase in interest expense.

This allowed the bank to maintain a healthy net interest margin of 4.6 percent. Fee-based income also improved, partly attributed to the sustained growth in transactional fees, trust fees and bancassurance commissions.

As a result, total operating income jumped 16 percent to P75.7 billion, it said.

Gross loans, which hit the P1-trillion mark for the first time, increased 13 percent to P1.1 trillion on strong demand from both the corporate and

consumer segments.

Although the non-performing loans ratio was kept steady at 1.6 percent, the bank more than doubled its safety net, setting aside P7 billion in credit provisions.

This move resulted in an NPL coverage ratio of 109 percent, well above the industry average.

Cost-to-income ratio improved to 45 percent, while total operating expenses grew 12 percent to P34.4 billion driven by higher manpower costs, taxes and IT spending.

Total assets rose 8 percent to hit P1.8 trillion, further solidifying Chinabank’s position as the country’s fourth largest private

universal bank. On the funding side, deposits grew 9 percent to P1.4 trillion, supported by a current account and savings account ratio of 48 percent. The bank ended the year with a fortified capital position, up 13 percent to P191.3 billion. This strength is reflected in a common equity tier 1 ratio of 15.2 percent and a total capital adequacy ratio of 16.1 percent, providing a significant buffer to support the bank’s long-term strategic objectives. Book value per share improved by 13 percent to P71.04. Chinabank’s shares closed on Thursday at P69 apiece.

McKinsey, Bain rush to hire interns before big banks do

MCKINSEY & Co. has pushed forward its recruitment timeline for next summer’s crop of college interns, the latest salvo in the war for talent among top consulting firms and Wall Street.

McKinsey will start searching for its 2027 class of summer business analysts this spring, rather than waiting until June as it has done in past years. It said the move will make it easier for college students to apply, as they’ll still be on campus.

The accelerated timetable prompted rival Bain & Co. to do the same, and sent college career counselors scrambling to help prepare students for interviews and networking that will now happen a few months earlier than expected, adding to the anxiety many already feel about the job market.

The move should help McKinsey and Bain catch up with top-tier investment banks, which have shifted their own recruitment cycles earlier and often hire from the same elite talent pools. Internships are a coveted career step in both industries, which often invite summer workers to return as full-time employees after graduation.

McKinsey partner Blair Ciesil, who helps lead the firm’s recruitment efforts, said competition for talent has shifted earlier, “driven in part by some industries that have very early cycles, like banking. Our goal is to be competitive, yes, but also to maximize candidates’ choices and their experience.”

Bain, which like McKinsey is part of the trio of top-tier consulting firms know as the “MBBs” (Boston Consulting Group is the other), said it would follow McKinsey’s lead, or risk missing out on strong candidates. “We can’t let McKinsey do an entire cycle

before us,” said Ron Kermisch, Bain’s global head of talent acquisition.

“I think they’re responding to a force they have to respond to: the investment banks,” he said. “They’re doing what they feel they have to do given they see more overlap with Goldman potentially than we do. We see a lot of overlap with [McKinsey], so we have to follow them.”

Increasing the stress

GREG Victory, executive director of the career center at Duke University, said he’s been told McKinsey’s deadline for applications for summer 2027 positions is now March 29. He’s concerned that could “knock out a whole swath of candidates who come to the process late,” while adding to the anxieties of students who are worried about a white-collar recession and the impact artificial intelligence could have on entry-level hiring.

“It has increased the stress—not only for the students going through that process, but for the students

around them who aren’t interested in those career pathways,” Victory said.

“They are like, ‘Oh my god, I’m so far behind. What am I doing wrong?’”

More than six in ten college seniors are pessimistic about their career prospects, the highest figure ever recorded by career site Handshake, and for good reason: Job postings on Handshake declined 15 percent between December 2024 and December 2025, while applications per job are up. Aiming for any edge in the hiring market, more college students are now applying for internships as early as freshman year.

McKinsey several years ago started holding career-focused events on college campuses in the spring, a process it calls “spring attraction.”

The firm does accept applications on a rolling basis if candidates aren’t ready to apply in the spring.

“We’ve typically interviewed over the summer months, but we’re going to be moving that up to the spring, which we hope will actually be better

for students,” said McKinsey’s Ciesil. “It’s logistically pretty difficult to have folks apply and interview over the summer, as they tend to be far flung. So we’re trying to make that easier.”

While it might be easier for those who are prepared and know they want to work in consulting, the shift “punishes those who need more runway” to explore potential career paths or build up their network, said Namaan Mian, chief operating officer of Management Consulted, an interview prep and job search platform for aspiring consultants.

Alicia Pittman, a senior partner at Boston Consulting Group who heads up recruitment globally, said she was aware of McKinsey’s move but declined to say how BCG would respond. Aaron Fine, head of Americas at management consultant Oliver Wyman, said he wasn’t sure how his firm would respond to McKinsey but said the timing of recruitment is something his firm’s leadership has discussed.

Investment banks, meanwhile, have been waging their own recruitment battles against private equity firms, who often poach the banks’ first-year trainees as soon as they begin work, or even earlier. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has said he dislikes the practice, and JPMorgan last summer told incoming graduates they’ll be fired if they accept future job offers at other firms before starting at the bank or within their first 18 months.

“This escalation to keep going earlier and earlier, it’s been going on for 15 years now,” Bain’s Kermisch said. “I don’t think it’s good for the firms, and I don’t think it’s good for the students. It’s a necessary evil.” Bloomberg

Octavio Peralta

A ssociation World

DUKE University’s campus in Durham, North Carolina. PHOTOGRAPHER: CORNELL WATSON/BLOOMBERG.

Why the travel tax you love to hate matters

IF you’ve ever downed a glass of service water at your favorite restaurant in Boracay Island, or watched the recent concert of Side A at the Manila Metropolitan Theater, then congratulations. The travel tax you’ve been paying every time you leave the country just worked for you. Or perhaps you know a young student whose parents barely make ends meet but is somehow able to put herself through college. Most likely, her tuition is being paid from your travel tax, as well.

Unfortunately, some lawmakers—even President Marcos Jr. who believes his successor should be able to understand economics—have been direly misinformed about the use of the travel tax. They think it is an unnecessary burden on Filipinos who want to travel abroad.

(It’s ironic that Marcos Jr., who has made the abolition of the travel tax a priority measure, even inaugurated a Tourism Rest Area in Pagudpud, Ilocos Norte, in 2024, so his kailian will have clean toilet facilities and a nice place to buy souvenirs after swimming in the white beach. That facility was funded from, yes, the travel tax. Of course, as a government official, he is exempted from paying the travel tax when he goes abroad, so I guess no harm, no foul?)

The fact is, people who vacation abroad have the financial means to do so. So the P1,620 mandatory fee for traveling Filipinos hardly makes a dent in their vacation plans. Veteran tourism leader Jose C. Clemente III of Rajah Tours told me recently, “In truth, I don’t think the P1,620 really dissuades people from traveling. The outbound [travel] figures are even rising.”

Of course, numbers don’t lie. Based on the e-travel data gathered by the Department of Tourism, there were 7.65 million Filipinos who went abroad last year, 11.6 percent higher than in 2024. That dwarfed even 5.87 million foreign nationals who visited

and 1.34

less than in 2024. Randi Alampay, a professor at the

CONTINUED ON B5

Single by Choice: Valentine’s Day is no longer a relationship deadline

FOR years, Valentine’s Day functioned as a quiet social deadline. If you were in a relationship, you celebrated. If you were single, you explained. But new nationwide data from Agile Data Solutions Inc. suggest that this script is starting to loosen—and quickly.

According to survey findings gathered through Hustle PH, 68 percent of single respondents say they are single by choice. Not waiting. Not recovering. Not unlucky. Choosing.

Agile Data Solutions Inc. refers to this emerging pattern as “Intentional Singlehood”—a choice-driven shift where being single is framed as strategic and self-directed rather than transitional. In this framing, singlehood isn’t a waiting phase. It’s a deliberate position shaped by personal timing and priorities.

“The idea that everyone must be in a relationship by a certain age is slowly losing its hold,” said Jason Gaguan, chairman and cofounder of Agile Data Solutions Inc. “What we’re seeing is intentional singlehood— people choosing stability, growth, or peace before partnership.”

■ SINGLEHOOD AS STRATEGY, NOT CIRCUMSTANCE. Among singles, more than 40 percent say they are prioritizing personal, career, or financial goals, while 20 percent say they simply haven’t met the right person yet. The dominant story here isn’t delay—

it’s sequencing. Partnership is no longer treated as a prerequisite for adulthood. Instead, many respondents appear to be treating relationships as something that should align with their trajectory, not interrupt it. This reframing is particularly significant in a culture where romantic milestones have traditionally carried strong social weight.

■ VALENTINE’S DAY STILL LOUD—BUT EMOTIONALLY QUIETER. Despite Valentine’s Day’s commercial and social intensity, emotional reactions are surprisingly subdued. The data show that 66 percent of respondents feel neutral as the holiday approaches.

At the same time, 64 percent agree that Valentine’s Day in the Philippines feels overly romanticized. The contradiction is telling: Filipinos recognize the hype—but they’re less emotionally moved by it. “Neutrality isn’t indifference,” Gaguan explained. “It suggests people are separating cultural messaging from personal worth.”

Rather than serving as a mirror for relationship status, Valentine’s is becoming just another seasonal moment — one that can be acknowledged without being internalized.

■ PRESSURE HAS NOT DISAPPEARED— BUT IT NO LONGER DOMINATES. There are still traces of social pressure. About 27 percent say they sometimes feel pushed

the response you get won’t disappoint you. ★★★

LEO (July 23-Aug. 22): Dig in and discover. Knowledge is your pathway to success. The connections you make while attending a lecture, event or reunion will pay off. Put your heart and soul into whatever you want to promote, and you’ll have a captive audience and gain support and interest to forge ahead. ★★★

of the

to be in a relationship during Valentine’s Day. Among singles, 26 percent admit they occasionally feel left out. But these are minority experiences. More respondents—39 percent—say they feel no pressure at all. And a similar share of singles say they never feel excluded.

The emotional tone is no longer defined by longing or lack. It is defined by steadiness. Older respondents report even lower levels of pressure, suggesting that confidence in singlehood may strengthen over time.

■ CELEBRATION IS EXPANDING BEYOND ROMANCE. If Valentine’s were still primarily about couples, celebration patterns would reflect that. Instead, they show diversification. Thirty-two percent spend the day with family—slightly more than the 29 percent who celebrate with a romantic partner. Many others report relaxing or spending time casually.

More tellingly, 64 percent agree that Valentine’s Day today feels more about enjoyment than romance.

The holiday appears to be widening in meaning. Romance remains present—but no longer central.

■ SELF-LOVE IS INTENTIONAL, NOT REACTIVE. Yet emotional satisfaction is high. Around 80 percent agree that spending on themselves makes them feel good, and more than 73 percent across relationship

statuses report emotional returns from self-spending.

Among Gen Z singles, the most common motivations for self-spending are celebrating themselves (42 percent) and rewarding themselves for hard work or stress (29 percent). This is not retail therapy driven by loneliness. It is structured self-recognition—a clear sign of “treat-onomics,” where small, intentional splurges function as emotional ROI and self-validation.

“Self-spending isn’t a substitute for romance,” Gaguan said. “It’s an expression of agency. People are choosing how to feel valued.”

■ A SUBTLE BUT SIGNIFICANT CULTURAL SHIFT. Taken together, the data point to something larger than Valentine’s trends. Singlehood is no longer framed primarily as temporary or incomplete. Emotional neutrality has replaced urgency. Celebration has broadened beyond romance. Spending has become modest but meaningful.

The most powerful insight may be this: when 68 percent say they are single by choice, Valentine’s Day stops functioning as a test. It becomes optional.

And in a culture that once tied February 14 closely to romantic validation, that shift may be one of the most telling signs of how modern Filipino priorities are evolving.

VIRGO (Aug. 23-Sept. 22): Expand your interests, knowledge and insight. It will help you decide how best to divide your skills and time to help others. Don’t lose sight of how vital meaningful relationships are; be sure to nurture and accommodate those you love. Romance, a change of scenery, attending a reunion or participating in an activity you enjoy will be rewarding. ★★★★

LIBRA (Sept. 23-Oct. 22): Stay on topic even if someone tries to redirect you. It’s essential to get your point across accurately. Participate in activities that require stamina and build your confidence and sense of accomplishment. Clear a path forward, and visualize the possibilities. ★★

SCORPIO (Oct. 23-Nov. 21): Anger and revenge will stand between you and getting what you want. Use your intelligence, charisma and connections to fuel your passion and complete your mission without interference or discord. Avoid domestic disputes, attend events that interest you and expand your circle of friends. Socializing, travel and educational pursuits will offer insight into what’s best for you. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Keep tabs on your expenditures, possessions and health. You’ll receive mixed messages that might lead you astray if you are too gullible. Home improvements will require budgeting and planning to avoid being taken advantage of. Get what you want in writing, and refuse to take on an additional expense for something you don’t like or need. ★★★

CAPRICORN (Dec. 22-Jan. 19): Don’t be afraid to take advantage of any opportunity that comes your way. A joint venture, or a commitment to join forces and share expenses and responsibilities with someone special, will ease stress and offer the freedom to pursue pastimes that bring you happiness, better health or a desirable lifestyle. ★★★

AQUARIUS (Jan. 20-Feb. 18): You can lower your overhead if you investigate efficiency programs

SOON TO BE MARRIED

BASHERS of this couple, especially the woman, are in for a shock because they are now said to be engaged and even setting wedding dates. The woman gets a lot of hate because the guy came from a really popular loveteam that people obsessed with years after they had their last project together. Fans allege that the guy cheated on the girl with his current one. It only angers them more when he says publicly that he is happy with her and sees himself marrying her. Fans allege cheating was involved and they were already into each other even while the popular loveteam was still together.

NO MORE MONEY

THE romance between a married politician and a sexy star was thought to result in marriage because the former was so smitten. It appears that while he is still smitten, the politician is more concerned about his public image and political plans. He has realized that being with the sexy star will only damage his reputation. So for now, he is keeping his distance from her. Rumor has it that he even stopped giving her money, which, observers say, is the only reason why she is even with him.

SITUATIONSHIP

THE actor and the actress are in a “situationship,” a relationship without clear definition, labels, or long-term commitment. The actress wishes it was more but the actor is notorious for not immediately committing to women, even if he is really into them. He is into the actress. She is beautiful, kind and talented. Nothing is holding him back except his own lack of enthusiasm. Meanwhile, the actress is really in love with the actor. She is aware of his feelings and she is okay to wait.

PROBLEMATIC

PEOPLE are talking about an influencer who allegedly scammed someone with whom she’s had a business arrangement with. Now, more people have come out accusing the influencer of scamming them. One person bought from her account selling secondhand items and never received what she paid for. A resort said she approached them for a collaboration (free stay for social media exposure) but she allegedly did not keep her end of the bargain. The weird thing is that no one wanted to call out the influencer because she is famous when she is not even a household name.

WHY THE TRAVEL TAX YOU LOVE TO HATE MATTERS

CONTINUED FROM B4 Philippines’ Asian Institute of Tourism, agrees with Clemente. “The fact that outbound travel is higher than inbound strongly suggests that the travel tax is largely irrelevant to the equation [on why Filipinos travel abroad versus locally].” Although to be fair to the good professor, he is actually in favor of abolishing the travel tax.

I’m sure many lawmakers are quite aware of the benefits of travel taxes. Many of their own projects like the restoration of their historical churches, lighting of their plazas, or short roads to their prized local tourism destinations have been funded by travel taxes via the Tourism Infrastructure and Enterprise Zone Authority (Tieza). Why they choose to abolish a tax that has clearly helped construct over P5 billion worth of vital tourism infrastructure like the provision of hyperbaric chambers for divers, assisted 1.5 million scholars, and helped maintain and operate Unesco World Heritage sites such as the Rice Terraces in Ifugao and the Puerto Princesa Subterranean River, may not be puzzling at all. Government officials and lawmakers have been suffering from the public’s ire generated from the investigations and hearings on the ghost and substandard flood-control projects, so perhaps they needed a quick, feel-good response to get the citizenry back on their side again. After all, the investigation into these corruption-addled flood-control projects seems to be going nowhere, with very few perpetrators actually charged or behind bars.

In fact, because of these investigations, the public has lumped even the beneficial and up to par projects funded by these travel taxes as “corrupt”, as per comments of netizens on the news pieces about the House Committee on Tourism’s recent approval of the tax’s abolition. Also, how would you explain the Department of Finance’s recent turnaround on leaving the tax’s abolition up to Congress, whereas before it had warned about losing a sizeable chunk of revenues to fund the projects of Tieza, Commission on Higher Education, and National Commission for Culture and the Arts? (With not enough individual and corporate taxes to go around to fund the state’s operations, government keeps on increasing its borrowings.)

So to be honest, despite some legislators’ assurances, I am not so confident that they will find a better way to fund the three government agencies’ vital projects, without the latter holding out their respective begging bowls during the annual budgeting season. Removing the travel tax is shortsighted—because it impacts a relatively small segment of the population—at the expense of boosting the country’s competitiveness in tourism, education, and the arts, which is the purpose of the levy to begin with.

Show BusinessMirror

The waves are calling: The 7th Margaha Film Festival

AMOTHER who has recently given birth to her child stares at someone, also a mother who—half-teasing, half mocking— advises the mother how difficult it is to raise a child. Why not let someone who could offer the infant a better future raise that child?

Thus begins inauspiciously this narrative of separation and loss. That scene served as a prologue to the quiet event happening to three members of a family: a mother, an older brother, and the young boy of 8 or 9 maybe. The little boy dreams of riding a plane, which was promised to him days back. He has not stopped counting from then on.

Whenever the little boy brings up this promise, the older brother and mother would exchange meaningful, sad glances. Then the day came....

The film is Manimalay, which roughly means the practice of moving to a different house or being asked to transfer to another house, one that has better resources. Manimalay, according to its director Janno Castillo, “was born from a true story that lingered with me long after it was first told.” He continued:

“It is a film shaped by quiet observations of labor, childhood and survival, and by the question of what is taken from children when work replaces play, and endurance replaces choice.”

Castillo further propounds: “I wanted this film to move away from spectacle and instead sit closely with its characters. Their silences, their routines, and their small acts of resilience became the heart of the storytelling. Rather than dramatize suffering, Manimalay listens to it. The camera remains patient, allowing moments to unfold naturally, honoring the dignity of lives often overlooked or reduced to statistics.”

The result of this filmic decision are performances so raw, you feel they did not come out organically but were excavated from years of displacement and destitution. On the mother’s face can be found a languor that is easily replaceable by the most lambent of sorrow. Strangely, the older brother has a face that seems to summon sadness and yet commands instead resignation to sit upon his weak shoulders. Both become one and the same when they finally cry their heart out, their sobs wracking their whole body, perhaps the only act of incipient protest they can quietly demonstrate against the injustices of inequalities.

We find in the Director’s Statement, which is part of the printed program of the Margaha Film Festival, an advocacy. The director, Janno Castillo, who is also its writer and producer, states how Manimalay does not seek to offer easy answers. For him, it is “a witness and a plea.” He explains this plea “to see these children beyond their labor, to acknowledge the systems that shape their reality, and to remember that no child should carry the weight of their survival alone.”

Manimalay is graced by the presence of two new actors who give us a sterling and unforgettable performance: Jing Torrecampo and Dwyane Lucero. It also co-stars Jerson Aviso Jr. Manimalay was awarded the Best Film Prize under the Sagaynon Shorts category.

The Best Director in the aforementioned category was given to Presilio Bajao for the film Hampang sa Balod (literally to “Play with or in the Waves”).

Following the director’s statement, he mentions how the film was “inspired by youthful curiosity and the sea that surrounds our community.” For the adults, he continues, “the sea is a provider...but for the boys, it is a playground full of laughter, discovery, and the little victories that make the day memorable.” Hampang sa Balod is a winsome mix of reckless boys’ fantasy and a cautionary tale gilded with nostalgia.

Guloguinhawa ( Just Breathe), according to its director Mary Grace Rama-Mission, was an attempt to “bring Dante back onscreen.” Dante Macam was a respected and multi-awarded figure in Sagaynon filmmaking. He acted, directed, mentored and inspired other filmmakers in the area. The film was made when he was, I would like to assume, already at the terminal stage of his cancer.

Watching the film, the jurors (and the audience) had to contend with the ethical context of filming, in hindsight, a dying man. But what makes this debate sublime and extraordinary is the fact that, were you to put Dante in that role, without his affliction, he would have performed with the same similar intensity. Without us knowing the truth behind his breathing, the film at the end is no more a tribute to a dying actor than a poetry on breathing designed in pastel and

other heavenly tints.

Hampang sa Balod and Guloginhawa were given the Jury Prize Ex-Aequo, as the two compelling films shared the special prize.

The Philippine Shorts Category yielded a fruitful harvest gathered from different regional and local festivals. Some of them have already won major awards in other film events. Under this category, Hasang (Gills) by Daniel de la Cruz was chosen as the Best Film. Part-folktale, part environmental ideology, Hasang brings us to a village where dying people have the transcendental/metaphysical/physical choice to transform themselves into a fish of their own liking.

To de la Cruz, “Hasang is rooted in a local indigenous belief that death is not an ending but a return to wilderness.” Which could mean purity.

Framed tightly and lighted in a fusion of chiaroscuro and theatrical mist, Sa Pwesto ni Pistong (translated as “The Barber’s Chair”) is a reimagining of the days leading to martial law and that revolution and the other revolts in the peripheries. The main character becomes so only because he remains within the frame, first as the guardian of histories and later as a participant in the contentious order of things. According to its director, VinJo Entuna, “the barber, my protagonist, is designed as an initially passive figure, someone who prefers to stay from political turmoil. Yet, as history often dictates, neutrality is

a privilege he cannot sustain...” Entuna’s Sa Pwesto ni Pistong was given the Jury Prize under the Philippine Shorts.

The jury was composed of the following: Arden Rod Condez, multi-awarded director; Chai Fonacier, multi-awarded TV and local film and international actress and health advocate; Jag Garcia, filmmaker and film educator; Kenneth Ian Rivera, Sagaynon cultural worker and writer; and, for the record, three members of the Manunuri ng Pelikulang Pilipino, namely, Kei Tan, Rolando Tolentino and Tito Genova Valiente. Tolentino used to head the NCCA Executive Committee on Cinema while Tan and Valiente are current members.

Helen Arguelles-Cutillar is the festival director; Mark Raymund L. Garcia serves as the programming director.

For the 7th edition, the Mayor of Sagay, the Hon. Leo Rafael M. Cueva gave P40,000 as seed fund to the selected 12 Sagaynon filmmakers. Mayor Cueva, ever since, has served as the Patron of the Arts for Sagaynon arts and cultural initiatives.

The Margaha Film Festival rides on the motif

“Nagtawag na ang Balod” (The Wave has Called) and thus is famed for its opening, which takes place on and at the sea and beach of Margaha. For this year, some 27 awards were handed out during the closing ceremonies.

‘Stars on the Floor’ Season 2 takes off with big reveal, collab battles

FOLLOWING its successful pilot episode on February 15, which unveiled a powerhouse lineup of celebrity dance stars, Stars on the Floor Season 2 returned for its second week with even bigger surprises and showstopping performances. Hosted by top GMA star Alden Richards, the show continues to bring together Celebrity Dance Stars and Ppop Dance Stars for themed performances judged by the Dance Authority led by Marian Rivera, Coach Jay and Rayver Cruz. One of the night’s most anticipated moments was the reveal of the “Mystery Celebrity Dance Star,” who turned out to be none other than multiawarded actress Jasmine Curtis-Smith. The night also marked the official launch of the competition’s first phase, “Collabolabong Labanan,” signaling the start of the duo collaboration battles. Collab performances from the Dance Stars showcased diverse styles and stories, each bringing a unique

flavor to the stage. Opening the evening on a high note was the reveal of Jasmine Curtis-Smith, who teamed up with P-pop dance star Joker of 1st. One for a dynamic Cha-Cha-Cha performance that energized the crowd.

GMA leading man Rocco Nacino and Denise of CALISTA delivered an intense open choreography piece inspired by a crime investigation. Chanty Videla paired with Jeromy of Hori7on for a jazz funk routine that captured the modern world of dating apps. Paul Salas and Sophia of KAIA brought a wild hip-hop performance set in an alternate reality. Meanwhile, former Sexbomb member Sugar Mercado with Jao of Alamat invited viewers into a vibrant carnival world through a dancehall performance.

excitement online with its digital show, SOTF Dance Break, streaming every Wednesday, Thursday, and Friday at 5:10 pm on Kapuso Stream. The digital series features exclusive behind-the-scenes preparations of the Dance Stars as they gear up for the Sunday showdown. Episodes are uploaded right after the show on the GMA Network and ATM YouTube channels, giving fans even more access to the action.

Jeromy of Hori7on for a jazz funk routine action.

Beyond the main stage, Stars on the Floor Season 2 expands the

Stars on the Floor Season 2 airs every Sunday at 7:15 pm after Bubble Gang. Viewers can also catch the livestream on Kapuso Stream and the GMA ATM YouTube Channel, hosted by Lexi Gonzales, Thea Astley and Sean Lucas.

MARIAN RIVERA

iCare HMO marks 35 years, moves forward as independent healthcare organization

As iCare HMO marks 35 years of serving Filipinos, it moves forward as an independent health maintenance organization from Insular Life (InLife). This aligns with InLife’s strategy to streamline its portfolio and concentrate on life insurance and corporate solutions nationwide.

iCare HMO was founded in 1991 as a wholly owned subsidiary of InLife. During this period, InLife supported the modernization of iCare HMO’s core systems, digital platforms, and operations. These initiatives improved profitability, and iCare rose from 12th in 2018 to 6th in 2023. iCare HMO’s strong

Geronimo V. Francisco, President and CEO of iCare HMO, delivers the keynote address at iCare’s 35th Anniversary Celebration, marking the organization’s continued commitment to accessible and sustainable healthcare for Filipinos.

performance attracted foreign investors, leading to a partial acquisition in 2023. Building on this momentum, iCare

DBP, Camarines Sur ink P3.5-B loan deal

STATE-OWNED Development Bank of the Philippines (DBP) and the Provincial Government of Camarines Sur have signed a P3.5 billion term loan facility to fund priority development projects and accelerate economic growth in the largest province in Bicol region, a top official said.

DBP President and Chief Executive Officer Michael O. de Jesus said the funding support under the Assistance for Economic and Social Development (ASENSO) for LGUs Financing Program would bankroll a total of 112 projects in Camarines Sur, including the construction of healthcare centers, hospitals, school buildings, roads, and agricultural facilities.

“DBP takes pride in assisting the Camarines Sur provincial government in projects that will improve the lives of Camarinenses, from strengthening infrastructure and improving healthcare delivery, to fostering education and

expanding access to essential social services and livelihood opportunities,” de Jesus said.

DBP is the ninth largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

Camarines Sur is a first-class province with a population of more than two million people and a thriving economy that is primarily reliant on key industries such as tourism, agriculture, fishery, livestock, and forestry.

De Jesus said the ASENSO program provides financing assistance to all levels of local government units in the accomplishment of its projects to accelerate infrastructure and socio-economic development consistent with the goals of the Philippine Development Plan.

He said DBP is eyeing more similar

HMO adopted a new DNA that blends Singaporean efficiency and discipline with Filipino tender loving care. This strengthened the organization’s ability to deliver sustainable and affordable healthcare solutions amid rising medical costs and accelerating medical inflation.

“Our mission at iCare HMO is clear: to enable Filipinos to say yes to better health,” said Geronimo V. Francisco, President and CEO of iCare HMO. “At a time when medical inflation continues to put pressure on families and employers, we remain focused on delivering thoughtfully designed and cost-efficient healthcare solutions that make quality care accessible and sustainable.

Today, iCare HMO serves more than one million members nationwide, supporting employers and individuals with flexible, people-centered healthcare plans. Building on its 35-year foundation, iCare HMO remains committed to innovation, accessibility, and meeting the evolving healthcare needs of Filipinos.

partnerships with other LGUs, adding: “DBP continues to recognize and fully support initiatives that seek to maintain or even accelerate the momentum in local development while ensuring that communities continue to thrive and evolve.”

“As of end-November last year, DBP has approved more than P165-billion loans for 451 borrowers under the ASENSO program, and we hope expand in scope and scale the assistance we provide to our LGU partners,” de Jesus said.

Toyota Expands Aftersales Network with First Standalone Service Center in CALABARZON

Periodic Maintenance, General Services, and Body and Paint Services. Los Baños is recognized as a center for education, research, eco-tourism, and regional connectivity. Its proximity to the National Highway (Calamba-Pagsanjan Road), and major transport routes linking Laguna to nearby provinces and Metro Manila makes it an important gateway for movement and daily mobility, supporting

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And because the Basic Account is powered by BDO Unibank, you have the assurance of strong security and a nationwide branch network whenever you need in-person support.

Ready to make banking the simplest part of your day? Download the BDO Pay app and open your Basic Account now.

the area’s steady growth in economic and community activity.

“Today, we mark Toyota Los Baños Service Center as the first Service Center in Laguna, and the ninth Service Center in the Toyota network nationwide.”

Shared Masando Hashimoto, President of Toyota Motor Philippines. “As we inaugurate this facility today, may it stand as a symbol of continued partnership, a contribution to the local Los Banos community, where every customer journey begins and ends with trust.” He added.

“The Toyota Los Baños Service Center is more than just a facility; it is our commitment to help the municipality move closer to its development goals by providing reliable mobility solutions, expert vehicle care, and customerfocused after-sales support.” Shared Egmidio “Eddie” S. Jose, Chairman of Toyota Calamba. “When we broke ground in October 2024, we envisioned a worldclass facility that would serve as both a home away from home for our team and a welcoming space for customers to experience the full meaning of owning a Toyota. Today, that vision has become reality.” He added.

With its modern facilities, expanded capacity, and comprehensive service offerings, the new Toyota Service Center strengthens the brand’s nationwide service network and supports the everyday mobility needs of customers in Laguna.

Come and visit the Toyota Los Baños Service Center today to get your Toyota vehicle ready for the roads ahead!

Follow Toyota Motor Philippines on Facebook, Instagram and X, and join the ToyotaPH community on Viber to get the latest updates on products, services, and promos.

PUEBLO DE ORO Development Corporation (PDO) recently marked a milestone in its international market outreach with its participation in the Philippine Christmas Festival, joining the 2025 edition held at Tumbalong Park in Sydney, Australia.

The Festival, organized by the Philippine Community Council of New South Wales (PCCNSW) with the support of the Philippine Consulate General in Sydney, is one of the largest annual gatherings of the Filipino community in Australia.

The event, which drew a strong turnout of Filipinos living in Australia alongside members of the wider local community, provided PDO with an opportunity to connect directly with overseas Filipinos interested in property investment and homeownership opportunities in the Philippines.

Through on-site interactions, the company presented its overall development vision and held discussions on real estate investment, future plans, and long-term value.

The Sydney event also highlighted Pueblo de Oro’s distinct development philosophy of creating sustainable, high-quality yet affordable communities in major Philippine growth corridors. Across Pampanga, Batangas, Cebu, and Cagayan de Oro, the

company’s portfolio combines thoughtfully master-planned residential communities and integrated townships designed to balance environmental stewardship with practical living needs.

“Participating in the Sydney event is significant for us as it allows Pueblo de Oro to connect directly with Filipinos overseas and better understand how we can support their long-term goals, whether for investment or eventual homecoming,” said Prim Nolido, President and Chief Operating Officer of Pueblo de Oro. “It reinforces our commitment to making quality, well-planned communities accessible to Filipinos wherever they may be.”

PDO’s presence at the festival resulted in meaningful exchanges with prospective buyers and investors, increased brand visibility among overseas Filipinos, and expressions of interest from broker partners keen to represent Pueblo de Oro projects abroad.

This Sydney outreach forms part of Pueblo de Oro’s broader efforts to reach overseas Filipinos, including overseas Filipino workers (OFWs), and to position Philippine real estate as a viable long-term investment and

In the photo are, from left, Laguna Vice Governor Atty. JM Carait, Toyota Calamba Chairman Egmidio “Eddie” S. Jose, with wife, Alice Jose, Los Baños Mayor Neil Andrew Nocon, TMP President Masando Hashimoto, and TMP Senior Vice President of Marketing Division Sherwin Chua-Lim.

Henry Ford Awards Best Motoring Section

www.businessmirror.com.ph

Motoring

Honda unveils new CR-V lineup and City 30th Anniversary Pearl Edition

Story & photos

by Randy S. Peregrino

ONDA Cars Philippines Inc.

H(HCPI) officially unveiled the New Honda CR-V in three fresh variants. This latest iteration marks a significant evolution of Honda’s flagship SUV, blending premium sophistication and sporty fun with the brand’s signature performance. The New Honda CR-V is now available with two e:HEV full-hybrid options, alongside a refined VTEC Turbo variant.

CHOICE OF ELECTRIFIED OR BOOSTED POWERTRAIN

THE e:HEV system features a 2.0-liter Direct Injection Atkinson-cycle engine mated to a powerful dual-motor configuration. The engine produces 146 hp and 183 N-m of torque, while the electric motors deliver 181 hp and 335 N-m of torque. HCPI claims that both the VX e:HEV and RS e:HEV AWD achieved ratings of 29.4 km/L and 21.3 km/L, respectively (Based on UNR-101 test results). An upgrade for the RS e:HEV AWD is its advanced Real-Time All-Wheel Drive (AWD) capability. On the other hand, the V Turbo HuNT

variant is powered by a 1.5-liter DirectInjected 4-Cylinder DOHC engine that produces 187 hp and 240 N-m of torque, retaining the CR-V’s signature powerful performance. This versatile variant delivers a balance of power and efficiency, achieving 16.4km/L. (Based on UNR-101 test results).

STYLE DISTINCTION

THE top-spec New CR-VRS e:HEV AWD E-CVT emphasizes a modern outdoor lifestyle with exclusive Piano Black accents. The New CR-V VX e:HEV E-CVT features a sleek hybrid aesthetic, with expanded features from the RS e:HEV grade, such as Piano Black tailgate spoiler garnish, door mirrors, and alloy wheels, topped off with new rear fog lights. On the other hand, the New CR-V V Turbo HuNT CVT variant caters to the rugged enthusiast. It stands out with a signature “HuNT” emblem (exclusive to the Philippine market), glossy copper accents on the front grille and fog lights, black wheel arch garnish, silver front garnish, and running board.

Inside, all variants still feature Black Leather Seats, with the RS variant receiving exclusive red stitching upgraded with RS branding. Drivers across the

HATS off to Transportation Sec. Vince Dizon for his gargantuan efforts in rehabilitating the longest highway in the metropolis that is Edsa.

The ongoing repair is long overdue actually as this business of putting the country’s main artery in tip-top shape at all times is a command more than just a chore. Just right, since Edsa is the face of Metro Manila in terms of road infrastructure. Edsa defines the character of the country’s capital. For it to be bumpy, dirty and out of shape is a disgrace to heritage and an insult to the Filipino psyche.

Bring it on, Sec. Dizon!

MITSUBISHI PITCH

AS I keep saying, late is never late especially if the

lineup benefit from a three-spoke leather steering wheel, further refined in the RS variant with a black steering wheel garnish.

HONDA SENSING

ALL three new CR-V variants are equipped with Honda SENSING, ensuring owners have complete peace of mind with features like the Collision Mitigation Braking System (CMBS), which provides an extra layer of protection for both drivers and pedestrians. The New CR-V also moves beyond the standard with the inclusion of Blind Spot Information and a Cross Traffic Monitor across all grades. For a more intuitive experience, HeadUp Display (HUD), a feature previously available only on the RS, has been expanded to the VX variant. Regarding the variety of driving modes, both the RS and VX variants now have their own Driving Mode. Furthermore, the New Honda CR-V now features Google Built-in, which offers hands-free voice control across the lineup. This complements Honda CONNECT, which keeps drivers connected to their vehicle.

PRICING AND COLOR

THE new CR-V RS e:HEV AWD e-CVT

intention is for the common good. So, here’s the heartwarming statement of gratitude released in January by Mitsubishi on the hot issue of government’s subsidy for car companies deep in ramping up manufacturing in support of nation building. It came from Faye Alexis Marcelino, the MMPC’s assistant vice president for corporate public relations.

“Mitsubishi Motors Philippines Corporation (MMPC) expresses its sincere gratitude to the Philippine government for securing funding for the Comprehensive Automotive Resurgence Strategy (CARS) Program incentives. This demonstrates clear commitment to the local automotive industry and reinforces confidence in the sector’s stability and long-term prospects.

“We are grateful to Finance Secretary Frederick Go for leading this initiative and to the Department of Budget and Management, Department of Finance and the Department of Trade and Industry and other government agencies for their coordination in ensuring the program’s commitments are fulfilled.

“MMPC remains dedicated to delivering quality vehicles to our valued customers and stakeholders. We will continue to maintain a responsible presence in the Philippines, supporting communities, contributing to economic growth and upholding our role in the country’s long-term development.”

Never give up, fellas.

EXCITING DEALS

retails at P2.838 million with an introductory price of P2.788 million, while the new CR-V VX e:HEV e-CVT is at P2.488 million with an introductory price of P2.438 million. The new CR-V V Turbo HuNT CVT retails at P2.358 million with an introductory price of P2.258 million. Available color options are Platinum White Pearl (additional P20,000), Meteoroid Gray Metallic, Crystal Black Pearl (new), and Canyon River Blue Metallic. Both the RS and VX e:HEV variants come with a specialized battery warranty of eight years or 160,000km, whichever comes first.

CITY 30TH ANNIVERSARY

PEARL EDITION

MEANWHILE, HCPI also launched a new variant for the Honda City and Honda City Hatchback, the 30th Anniversary Pearl Edition. Introduced in the Philippine market in 1996, the Honda City was first launched as an exclusive model for the Asian region and has since become one of HCPI’s best-selling models. For its 30th Anniversary Pearl Edition variant, the City 1.5 S CVT Honda SENSING is embellished with additional black accents (Door Mirror/Outer Handle,

HURRY up! Toyota’s exciting deals on select models will end tomorrow, February 28.

Mark Luigi Bautista reports that Toyota is giving customers three flexible payment options designed to suit different financial priorities and purchasing preferences.

“Pay low offers an all-in package with as low as 15 percent down payment for participating models,” Mark said. This option includes 60-month financing terms, free 1-year comprehensive insurance, free 3-year LTO registration, and no chattel mortgage under select finance lease arrangements.

The Toyota Vios 1.3 XLE CVT offers an easy upgrade with Pay Low from P136,200.

For customers who prefer lighter monthly amortizations, Pay Light provides low monthly plans with 60-month payment terms, allowing buyers to spread over time while maintaining manageable monthly budgets. The Toyota Raize 1.0 Turbo is available with Pay Light from P10,651 per month. Mark tells us that Straight Cash Savings offers substantial cash discounts on select variants, with the Toyota Hilux 4x2 2.4 G A/T

Front Grille, and Black Alloy Wheels).

The City 1.5 S CVT Honda SENSING 30th Anniversary Pearl Edition retails at P1.039 million. On the other hand, the City Hatchback 30th Anniversary Pearl Edition has received accessory upgrades such as Black Honda Badge and City Emblem, Front Under Spoiler, Front Center Garnish, Front Fog Garnish, Tailgate Spoiler Garnish, Extended Rear Bumper, Exhaust Pipe Finisher, and Rear Under Spoiler.

The City Hatchback 1.5 RS CVT 30th Anniversary Pearl Edition retails at P1.279 million. Both the City and City Hatchback 30th Anniversary Pearl Edition variants come in Platinum White Pearl. They also sport an exclusive 30th Anniversary Pearl Edition emblem.

Meanwhile, to celebrate the launch of these special variants, HCPI is treating customers to ‘Smart Start Deals’, making the City and City Hatchback available with more flexible payment options. This is in partnership with BPI, RCBC, and Security Bank. For a limited time only, customers may avail of the 15 percent allin downpayment for as low as P30, zero interest on the first year (BPI exclusive), and a cash-out promo for as much as P60,000.

Aside from

Sports

Sneaker symphony

Researchers study physics behind basketball’s squeak —and how to tune it down

NEW YORK—As he watched the Boston Celtics play from the stands of TD Garden, one noise kept catching Adel Djellouli’s ear.

“This squeaking sound when players are sliding on the floor is omnipresent,” he said. “It’s always there, right?”

Squeaky shoes are part of the symphony of a basketball game, when rubber soles rasp against the hardwood floors as players jab step, cut and pivot and defenders move their feet to stay in front of their assignment.

Returning home from the game, Djellouli wondered how that sound was produced. And as a materials scientist at Harvard University, he had a way to find out.

Djellouli and colleagues slid sneaker  against a smooth glass plate over and over. They recorded the squeaks with a microphone and filmed the whole thing with a high speed camera to see what was happening under the shoe.

In a study published Wednesday in the journal Nature, they described what they found. As the shoe works hard to keep its grip, tiny sections of the sole change shape as they

Young picklers eye Asian spotlight in PCL Rising stars

HE Pickleball Champions

TLeague Asia Rising Stars U19 Sectional Tournament in Davao City officially got underway at Pickletown on Tuesday, marking the first time a youth event of this scale and international significance has been staged for the fast-growing sport in the region.

The Rising Stars U19 Sectional, part of the Kosmas Pickle Fest 2026, is a five-day team-based competition designed to identify and develop the next generation of elite pickleball athletes across Asia.

The U19 division features mixedgender teams composed of two male and two female athletes competing under a professional team format that emphasizes skill, strategy, teamwork and sportsmanship.

Matches follow the official PCL Asia Rising Stars Rulebook and officiated according to international standards, ensuring world-class competition on home soil. The event is organized locally by Kosmas Athletic Ventures Corp. (KAVC), headed by Sophia Lapus, in partnership with Sunrise Events Inc.

“This partnership ensures that local players benefit from both world-class structure and strong community leadership,” said Mhica Gan, vice president for Marketing and Events of PCL Asia.

KAVC Operations Director Richard Bachmann described the event as both competitive and celebratory.

“Nothing beats getting stronger and healthier together. The Kosmas Pickle Fest captures the energy of a fast-growing pickleball community and channels it into meaningful opportunities for our young athletes,” said Bachmann. “Aside from competition, this is a celebration of a growing movement that aims to build universal access to sports, recreation and fitness.”

Also on tap are adult competitions across all skill levels, underscoring pickleball’s inclusive appeal. Categories include Newbie (2.0–2.99), Low Intermediate (3.0–3.49), High Intermediate (3.5–3.99), and Open divisions, with events in men’s doubles, women’s doubles and mixed doubles across 20+, 35+, and 50+ age brackets. For details, visit https://picklefest. kosmas.com.ph/ or follow the official Pickle Fest 2026 Facebook page and PCL Asia channels.

momentarily lose then regain contact with the floor thousands of times per second—at a frequency that matches the pitch of the loud squeak we hear.

“That squeaking is basically your shoe rippling, or creating wrinkles that travel super fast. They repeat at a high frequency, and this is why you get that squeaky noise,” Djellouli said.

The grip patterns on the soles may also play a role. When researchers slid blocks of flat, featureless rubber against the glass, they saw a series of chaotic, disorganized ripples but didn’t hear squeaks.

The ridge-like designs on the bottom of your shoes may organize the bursts to produce a clear, high-pitched sound.

Understanding friction better could help scientists better understand how the Earth’s tectonic plates slide and grind during earthquakes, for example, or to save energy by reducing friction and wear. It could also help eliminate

Other researchers have studied these kinds of bursts before, but this sneaker study examines friction happening at much faster speeds. And for the first time, it links the speedy pulses with the squeaking sound they produce.

These insights don’t just serve to satisfy the curiosity of a basketball fan. They could also help answer important practical questions.

“Friction is one of the oldest and most intricate problems in physics,” wrote physicist Bart Weber in an editorial accompanying the new research. Yet, despite its practical importance, he wrote, “it is difficult to predict and control.”

plenty of advice that may be risky, including rubbing soap or a dryer sheet on the soles. But some of the insights from the study could help to design squeak-free shoes in the future.

For example, one additional experiment found that changing the thickness of the rubber could make the squeak sound lower or higher in pitch. In the future, could we finetune our shoes to squeak in a pitch so high we can’t even hear it?

“We can now start designing for it,” said Weber, who is with the Advanced Research Center for Nanolithography and the University of Amsterdam, in an interview. “We can start making interfaces that either do it if we want to hear this sound, or don’t do it if we don’t want to hear it.”

BELLA BELEN extends her streak of 20-plus point matches to six.

ARECORD 126 aspirants—an explosive mix of seasoned campaigners, former national standouts and a crack international contingent—gear up for a pressurepacked, four-day test of power, precision and poise as the Philippine Golf Tour Qualifying School fires off March 17 at Splendido Golf Club in Laurel, Batangas.

With only 30 Tour cards up for grabs, the battle shapes up as a survival test where reputations offer no guarantees and a single bad stretch could shatter a year’s worth of preparation. From the opening tee shot to the final putt, it will be an unforgiving grind on a layout widely regarded as one of the most exacting courses on the calendar.

than P2 million, raising both the stakes and the standard of competition. Those who advance will join last season’s top 40 from the Order of Merit rankings, led by reigning OOM champion Angelo Que, along with Keanu Jahns and Fidel Concepcion, forming a formidable core for what promises to be a fiercely contested campaign. But before that comes the crucible. The Q-School remains the gateway for professionals and amateurs seeking entry into the elite ranks. With a huge field chasing just 30 slots, the math alone underscores the drama. There is no safety net—only the scoreboard.

Perched along rolling terrain overlooking Taal Lake, Splendido is noted for its ever-shifting winds, elevation changes and punishing rough. The course demands imagination as much as execution. Miss the fairways and recovery becomes a gamble. Attack recklessly and risk numbers that can derail a campaign. Add Batangas heat and swirling gusts expected to intensify in the afternoon, and the stage is set for a spirited, wide-open showdown.

Solar Spikers overcome Foxies in five-set thriller

Fsixth straight 20-plus performance— sealing the grueling two-hour, 28-minute contest with an unmolested spike.

The victory lifted the Solar Spikers to 3-3, strengthened their semifinal bid, and perhaps more importantly, underscored a developing maturity— Capital1 is far more dangerous when its offense flows through multiple hands.

“We had never beaten the Foxies before tonight. So we came into this match determined to give our all,” said an emotional Niegos.

“Killer’s instinct,” she added.

Farm Fresh, powered by Trisha Tubu’s conference-high 30 points, actually won the attack battle, 75-70, and edged Capital1 in blocks, 12-11. The Solar Spikers countered with more aces, 5-3, and capitalized on 23 Foxies errors.

The margins were razor-thin. The difference lay in composure— and in distribution. Capital1 jumped to a 4-0 lead in the

fifth set, squandered it, and allowed Farm Fresh to tie at 10 on a hit by Ces Molina. Belen fired a backrow hit. Niegos stuffed Ces Molina at the net. Tubu misfired under pressure. An overpass led to an Ezra Madrigal tip that pushed Capital1 to match point.

Even when Adorador committed a service error at 14-11, the Solar Spikers did not waver. They ran their system cleanly one last time—and trusted Belen to finish what a collective effort had built. Farm Fresh fell to 2-3 despite Molina’s 21 points, Rizza Cruz’s 12 and Royse Tubino’s nine. Jas Nabor made 24 excellent sets, while Alohi Robins-Hardy dished out 23 for the Foxies. Belen also showcased her allaround brilliance with 12 excellent digs and 19 receptions.

The top 30 survivors will earn playing rights for the upcoming PGT season—a lucrative 10-leg circuit staged at the country’s premier championship venues. Each event will feature deeper international participation and prize purses of no less

Among those tipped to contend are former leg winner Ira Alido, Ferdie Aunzo, Belem Arancon, Ramil Bisera, Rufino Bayron, former OOM winner Jobim Carlos, Albin Engino, former national amateur champion Anthony Fernando, Enrico Gallardo, Jonas Magcalayo, Tom Marcelo, Ivan Monsalve, legend Robert Pactolerin, Carlos Packing, Rey Pagunsan, Kuresh Samanodi, Richard Sinfuego and John Michael Uy—all hungry to secure their cards. The foreign challenge, numbering to a record 43 hopefuls, adds further intrigue. South Korea’s Kim Tae Won, Japan’s Kento Watanabe, Daiya Suzuki and former Q-School medalist Toru Nakajima, and American Riley Keagle headline a strong overseas contingent intent on carving out a place in the Philippine circuit.

FIFA stands by Mexico World Cup hosting despite cartel violence

MFIFA President Gianni Infantino thinks it can.

“Of course, we are monitoring the situation in Mexico these days, but I want to say from the outset that we have complete confidence in Mexico, in its president, Claudia Sheinbaum, and in the authorities, and we are convinced that everything will go as smoothly as possible,” Infantino said late Tuesday in a press conference in Colombia.

“Mexico is a great country, like in every country in the world, things happen; we don’t live on the moon or another planet,” Infantino added.

“That’s why we have governments, police, and authorities who will ensure order and security.”

The Mexican army killed Nemesio Rubén Oseguera Cervantes, “El Mencho,” who led the  Jalisco New Generation Cartel , on Sunday, sparking several days of violence. Cartel members  burned cars and blocked roads  in nearly a dozen Mexican states and authorities report that at

LEBRON JAMES of the

FIFA president Gianni Infantino expects the World Cup to be an “incredible celebration” despite the situation. AP

PVL