BusinessMirror January 02, 2026

11-mo coco export earnings breach $3B

By Ada Pelonia

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HE country’s earnings from coconut-based exports breached over $3 billion as of end-November, driven by constrained output that pushed up international prices.

Data from the Philippine Statistics Authority (PSA) showed that the value of coconut-based exports in January to November rose by 39.1 percent to $3.25 billion from $2.34 billion in the same period in 2024.

Shipments of coconut oil led the

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product group in the reference period, as it surged by nearly 35 percent to $2.61 billion from $1.94 billion recorded last year.

The latest figures exceeded the all-time high value of coconutbased products exports and shipments of coconut oil last year at $2.6 billion and $2.22 billion, respectively, propelled by a supply squeeze and booming demand for the commodity.

Data from the World Bank showed that the average price of coconut oil rose to $2,469 per metric ton (MT) in November.

The average quotation for the

tropical oil has been on upswing in the past five quarters to $2,727 per MT in July to September 2025, from $1,610 per MT in the same period last year, based on World Bank data.

The international organization expects coconut oil prices to average at $2,505 per MT in 2025, higher than the average price of $1,519 per MT posted in 2024.

The country’s outbound shipments of desiccated coconut also skyrocketed by 75.4 percent to $474.47 million in the reference period from $270.44 million in the previous year, based on PSA

data.

Revenues from other coconut products also grew by 55.8 percent to $115.61 million from $74.22 million.

Despite the uptrend in most coconut-based goods, export earnings from copra meal or cake fell by 13.3 percent to $50.79 million from $58.56 million.

Meanwhile, PSA data also showed that the country’s revenues from fruits and vegetables exports during the reference period jumped by 20.8 percent to $2.6 billion from $2.15 billion in 2024.

See “Earnings,” A2

BusinessMirror A broader look at today’s business

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GROSS BORROWINGS UP TO ₱2.596T IN JAN-NOV www.businessmirror.com.ph

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Friday, January 2, 2026 Vol. 21 No. 82

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

AS THE YEAR END, NATURE INSPIRES As 2025 comes to a close, local tourists pause at the Boso-Boso view deck along Marilaque Road to take in a stunning sunrise. A thick sea of clouds fills the valley, with the majestic Sierra Madre mountains standing tall in the background—a serene reminder to reflect and welcome the new year with awe and gratitude. BERNARD TESTA

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By Reine Juvierre S. Alberto

HE Marcos Jr. administration is nearly done with its 2025 borrowing program, after gross borrowings rose to P2.596 trillion in the first 11 months of the year, according to latest data from the Bureau of the Treasury (BTr).

The government’s total gross borrowings of P2.596 trillion from January to November 2025 is higher by 4.07 percent than the P2.494 trillion recorded in the same period a year ago.

The amount raised so far represents 99.86 percent of the year’s P2.6-trillion financing requirement, indicating that the government locked in most of its funding

needs ahead of schedule.

About 81.32 percent of the total borrowings were sourced domestically, amounting to P2.111 trillion.

This increased by 10.41 percent from the P1.912 trillion raised during the 11-month period last year.

Broken down, the government’s regular auction of fixed-rate Treasury bonds (T-bonds) and Treasury

CHRISTMAS TO VALENTINE STORMS SPELL SOUTH’S CLIMATE SHIFT

By Malou Talosig-Bartolome

F

OR many in Mindanao, the stretch from Christmas until Valentine’s Day has become noticeably wetter and stormier—a climate shift that researchers say has been unfolding since the early 2000s. A new 45-year analysis of tropical cyclones warns that these late-season “Christmas typhoons” are not only increasing in frequency but also behaving in ways that challenge the country’s disaster response systems.

The study, Characteristics and Near-Landfall Behavior of Tropical Cyclones Affecting the

Philippines (1979–2024), by University of the Philippines scientists Bernard Alan B. Racoma and Gerry Bagtasa, examined 372 landfalling storms. Their findings reveal a distinct divide: northern storms tend to be stronger but slower, while southern storms—particularly those hitting Visayas and Mindanao—move faster and accelerate abruptly.

Tale of 2 storm tracks

n Northern Grind. Typhoons striking Luzon often linger, unleashing prolonged winds and rainfall that heighten flooding risks. n Southern Dash. In con-

trast, storms in Mindanao and the Visayas are “faster-moving” and prone to sudden acceleration, leaving communities with little time to prepare.

“Southern landfalls tend to involve faster-moving, more dynamically accelerating storms,” the authors noted, warning that volatility reduces lead time for forecasters and residents alike.

The rise of ‘Christmas Typhoons’

THE study highlights a sharp increase in tropical cyclones passing through Mindanao during December to February since the early 2000s. Unlike northern storms that crawl toward land, these late-season

typhoons sprint, compressing the window for warnings and disaster response.

This trend underscores the operational challenge: while Luzon storms may allow hours or even days of preparation, Mindanao’s “Christmas typhoons” demand immediate action.

Beyond seasonal shifts, the study warns of Rapidly Intensifying (RI) storms. Many reach peak strength just six hours before landfall, with the critical intensification window opening 36 hours prior—often when the storm is already inside the Philippine See “Christmas,” A2

See “Borrowings,” A2

PESO EXCHANGE RATES n US 58.8050 n JAPAN 0.3756 n UK 79.4103 n HK 7.5669 n CHINA 8.3932 n SINGAPORE 45.8197 n AUSTRALIA 39.3817 n EU 69.2546 n KOREA 0.0408 n SAUDI ARABIA 15.6792 Source: BSP (December 29, 2025)

News

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A2 Friday, January 2, 2026

Christmas to valentine storms spell south’s…

Continued from A1

Area of Responsibility (PAR).

“These findings highlight the need to prepare not only for how many storms may arrive, but also for how strong, how fast, and how abrupt conditions may change near landfall,” Racoma and Bagtasa concluded.

By the numbers

n 9.5—Average number of tropical cyclones making landfall in the Philippines annually. n 21 Hours—Median time a storm spends crossing Philippine coastal waters. n 1 in 3—Ratio of Western North Pacific storms that eventually strike the archipelago.

Preparing for a New Normal

AS late-season typhoons become more common in Mindanao, experts stress that disaster risk reduction must adapt to the fast and abrupt nature of southern storms. A one-sizefits-all approach is no longer viable.

For communities from Christmas through Valentine’s, resilience now means anticipating storms that arrive quicker, intensify faster, and leave far less room for hesitation.

www.businessmirror.com.ph

14 of 16 regions have given wage hike to private workers

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By Ada Pelonia @adapelonia

HE Department of Labor and Employment (DOLE) said 14 out of 16 regions have approved a wage hike for private sector workers in 2025.

The DOLE said the wage orders granted daily minimum wage increases for workers in private establishments in NCR, CAR, Ilocos Region, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, Western Mindanao, Northern Mindanao, Soccsksargen, and Caraga ranging from P20 to P100.

Of these, the agency noted that the NCR remains the region with the highest daily minimum wage rate ranging from P658 to P695 for workers in the private sector.

It added that 11 wage orders granting monthly minimum wage increases for domestic workers were also issued by the Regional Tripartite Wages and Productivity Boards (RTWPBs) in CAR, Ilocos Region, Cagayan Valley,

Central Luzon, Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, Northern Mindanao, Soccsksargen, and Caraga. The increases range from P300 to P2,000 per month.

Over 4.5 million minimum wage earners in the private sector, along with 755,000 domestic workers, benefitted from the wage orders issued by the RTWPBs in 2025, the DOLE said.

“Wage orders were issued in consultation with workers and employers to ensure balance between protection and needs, reasonable returns on investments and employment generation.”

Furthermore, the DOLE noted that about 8 million full-time wage and salary workers earning above the minimum wage could also indirectly

benefit from wage adjustments at the enterprise level, arising from the correction of wage distortions.

The latest wage order was issued by the RTWPB-X for private sector workers in Northern Mindanao, granting a hike in daily and monthly salary of minimum wage earners and domestic workers, respectively. These will take effect on January 16.

The latest order approved a P39-increase in minimum wages in the non-agriculture and agriculture sectors under Wage Categories I and II. The increase will be given in two tranches.

Such increases will bring the minimum wage rates in the region to a range of P485 (Wage Category II) to P500 (Wage Category I) upon full implementation.

Wage Category I includes the

cities of Cagayan de Oro, Iligan, Malaybalay, Valencia, Gingoog, El Salvador, and Ozamiz and the municipalities of Tagoloan, Villanueva, Jasaan, Opol, Maramag, Quezon, Manolo Fortich, and Lugait.

Wage Category II covers all other areas not mentioned under Wage Category I, and all retail and service establishments employing not more than 10 workers.

Meanwhile, a wage order granting a P500 monthly increase for domestic workers (kasambahays) across Northern Mindanao was also announced, increasing their monthly minimum wage to P6,500.

The DOLE noted that RTWPBs XI and V are expected to start their minimum wage determination processes in January and February 2026, respectively.

PPA reports better flow of vehicles in ports near San Juanico Bridge

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HE Philippine Ports Authority (PPA) on Thursday reported a marked improvement in vehicle movement and logistics efficiency in ports near the San Juanico Bridge following interventions to address congestion caused by the bridge’s load limit.

In a statement, the PPA said ship calls between the ports of Tacloban and Amandayehan from June to November 2025 totaled 2,632, while 7,256 rolling cargo units or trucks were transported during the period.

“As of December 29, 2025, monitoring reports confirm the normalization of traffic conditions, with no truck queues observed along Tacloban Bypass Road and Amandayehan Port,” the PPA said.

The improved traffic flow coincided with the Department of Public Works and Highways’ (DPWH) implementation of a two-way increased load limit on the San Juanico Bridge, allowing vehicles with a gross weight of up to 15 tons to cross starting December 12, 2025.

Following the load limit imposed on May 16, 2025, significant congestion was observed along major access roads in Leyte and Samar, disrupting the movement of commercial vehicles and essential goods.

Heeding a government directive to establish an alternative route, PPA General Manager Jay Santiago ordered the assessment of available port facilities, which identified

the port of Amandayehan in Basey, Samar, as a “strategically viable interim alternative due to its location and proximity to Tacloban Port.”

To allow the port to have increased cargo and vessel traffic, the PPA allocated over P400 million from its corporate operating budget for targeted infrastructure interventions in Amandayehan Port.

“These included physical port expansion works to accommodate RoRo and Landing Craft Tank [LCT] vessels, dredging activities to improve navigational depth, and the installation of navigational aids to ensure safe and continuous maritime operations, particularly during night-time and adverse weather conditions,” it said.

The agency also partnered with the Maritime Industry Authority, Philippine Coast Guard, DPWH, local government units of Tacloban City and Basey, provincial government of Samar and Tingog Party-list to implement interim port operations.

“Organized truck queuing and traffic management systems were established on both the Tacloban and Basey sides to regulate port access, loading, and unloading activities and to prevent spillback along major road networks,” it said.

On average, four vessels were deployed daily along the Tacloban–Amandayehan route, transporting about 800 cargo trucks per day through the interim link. PNA

Borrowings…

been reduced, with domestic sources now accounting for 81 percent of the financing mix in 2025, compared to 19 percent from external sources.

In November alone, the government’s gross borrowings spiked by 74.54 percent year-on-year to P113.533 billion from P65.045 billion.

Domestic gross borrowings jumped by 59.57 percent to P78 billion from last year’s P48.880 billion.

Foreign financiers also lent P35.533 billion, a 119-percent increase from P16.165 billion a year ago.

In 2026, the government will hike its borrowing program to P2.682 trillion, up by 3.15 percent from P2.6 trillion in 2025.

About P2.065 trillion will come from domestic sources, while P616.86 billion will be sourced externally.

The government’s outstanding debt reached P17.562 trillion by the end of October, as the weaker peso against the US dollar weighed on its obligations despite a lesser reliance on foreign borrowings.

Continued from A1

bills (T-bills) generated P1.193 trillion and P192.2 billion, respectively.

The government also borrowed P425.613 billion from the issuance of retail Treasury bonds in August and another P300 billion in April through its benchmark fixed-rate Treasury notes.

Meanwhile, external gross borrowings eased to P484.886 billion in the first 11 months of the year, down by 16.74 percent from P582.412 billion in the same period last year.

Of the amount, P201.353 billion came from program loans provided by multilateral institutions, while P91.568 billion consisted of project loans.

The government tapped the international debt market just once this year, securing P191.965 billion—equivalent to $2.25 billion through dual-tranche US dollar bonds and €1 billion from a sevenyear sustainability bond issuance.

Reliance on foreign debts has

Earnings…

Continued from A1

Banana shipments led the category, surging by 29.8 percent to $1.45 billion from last year’s $1.12 billion, based on PSA data.

Of the pineapple-based products, only exports of pineapple juice posted increments, up by 22.5 percent to $126.98 million from $103.69 million a year ago.

Shipments of canned pineapple dropped by nearly 6 percent to $189.11 million from $200.21 million, while those of pineapple concentrates declined by 17.6 percent to $17.96 million from $21.78 million.

China drills around Taiwan worry…

Continued from A12

A3 Nation.

According to figures released by Taiwan’s National Immigration Agency in November 2025, there are 194,107 Filipino residents in the territory.

The majority live and work in Taoyuan City, Hsinchu County, Kaohsiung City, Tainan City, Taichung City, and New Taipei City—areas that could be directly affected by disruptions to trade, transport, and daily life caused by military maneuvers.

Earlier, the Manila Economic and Cultural Office (MECO), the Philippines’ de facto embassy in Taiwan, concern over China’s large-scale military exercises around Taiwan, warning of risks to regional stability and the safety of overseas Filipino workers.

MECO Chairperson and Resident Representative Corazon AvecillaPadiernos said the office, in coordination with the Department of Migrant Workers (DMW) and the Overseas Workers’ Welfare Administration (OWWA), is closely monitoring the situation.

With earlier report by Malou Talosig-Bartolome

US sanctions Chinese companies, oil tankers…

Continued from A12

account for as much of one-fifth of the nation’s total refining capacity, have been reliable buyers of Venezuelan crude for years, despite US sanctions.

China officially stopped importing Venezuelan crude for a period after US sanctions in 2019, resuming only in February 2024. But through unofficial channels, the world’s top crude importer never stopped its purchases, with Venezuelan oil often being masked as bitumen mix, according to traders and third-party data providers.

China’s Foreign Ministry didn’t respond immediately to a request for comment sent out of hours during a national holiday.

Trump on Monday confirmed that the US had also struck a facility inside Venezuela, targeting loading docks used by alleged narco-trafficking boats in what marks a major escalation of the military campaign.

The president has long threatened to expand the strikes to target Venezuelan facilities on land.

CNN reported that CIA carried out a drone attack on a dock along the Venezuelan coast that US authorities believe was tied to the gang Tren de Aragua. There were no casualties, according to the report, which cited unnamed sources. With assistance from Colum Murphy / Bloomberg

President Marcos Jr. delivers for every Filipino at home and abroad

A YEAR OF BOLD LEADERSHIP, LIFE-CHANGING SERVICE, AND ROBUST RESILIENCE

I

n 2025, President Ferdinand R. Marcos Jr. transformed challenges into triumphs, proving that true leadership means action, accountability, and unwavering commitment to the welfare of the Filipino people.

The President was at the forefront of reforms to fight systemic corruption and strengthen the foundation of good governance.

From rooting out corruption to bolstering resilience, his administration redefined good governance, ensuring no Filipino is left behind.

JUSTICE IN ACTION

In his powerful fourth State of the Nation Address on July 28, he thundered, “Mahiya naman kayo sa inyong kapwa Pilipino!” condemning anomalous flood-control projects and demanding transparency and holding those responsible to account.

He launched the “Sumbong sa Pangulo” website and DPWH Transparency Portal, empowering citizens to assess projects in their area and report irregularities. He also conducted inspections of flood control projects.

To probe a decade of fund misuse and exact accountability, the President established the Independent Commission for Infrastructure (ICI). The President realigned budgets, pursued recovery of stolen funds, and backed Ombudsman charges and arrests.

PROMISE FULFILLED: ₱20 BIGAS TO REACH 15-M FAMILIES The nationwide rollout of the Benteng Bigas Meron Na program, a fulfillment of the President’s campaign promise, will reach 15 million households by 2026.

The flagship food-security program, will not only benefit vulnerable sectors, but increase access to affordable rice and support palay farmgate prices.

To modernize farming and increase farmer incomes. the government distributed fertilizer and farm machinery, set fair floor prices for palay, suspended rice importation during harvest season, and invested in agri-processing and fish ports infrastructure.

QUICK AND EFFICIENT RESPONSE

When disasters struck, President Marcos led with empathy and efficiency. Strong typhoons and powerful earthquakes tested the nation’s resolve. Mobilizing agencies for swift relief, he ensured food, supplies, and aid reached the affected population.

Personally visiting Cebu, Catanduanes, Albay, Negros Occidental, and other hardest hit localities, he worked with local government officials to aid the vulnerable and make sure the delivery of government assistance stayed unhampered.

PBBM launched Oplan Kontra Baha in Metro Manila, Cebu, and Bacolod—clearing waterways through multi-stakeholder cooperation to combat chronic flooding. This hands-on approach built not just recovery, but lasting resilience for safer communities.

IMPROVING DAILY LIFE FOR MILLIONS Health and education soared under President Marcos’ reforms. With zero-balance billing, over one million Filipinos accessed free hospital care in DOH hospitals, ensuring delivery of muchneeded health care and easing financial woes of patients. PhilHealth packages were expanded, while Yaman ng Kalusugan (YAKAP) caravans and Bagong Urgent Care and Ambulatory Service (BUCAS) centers delivered outpatient services nationwide.

In education, the Expanded Tertiary Education Equivalency and Accreditation Program (ETEEAP) recognized work experience and training for degrees. The administration distributed laptops and provided satellite internet to remote schools; refined K-12; added teaching posts; and improved teacher welfare. Scholarships for higher education grew, with transport discounts lightening family burdens—empowering the next generation to thrive.

Regular conduct of job fairs helped bring the workforce closer to their potential employers.

Partnership with the private sector ensured that the skills of our workforce remain responsive to the requirements of the industries.

Social protection flourished through inclusive initiatives. Job fairs; fare discounts for students, seniors, and families; plus e-shuttles for PWDs improved daily life.

SSS pension reforms, workers’ rights protection, 4Ps expansion, and AKSYON Fund for OFWs provided vital support.

Digital leaps like the eGovPH Super App, Serbisyo Hubs, Free Wi-Fi sites, and cybersecurity safeguards made services accessible. Reviving Dalian trains for MRT-3, upgrading airports, and household electrification fueled economic growth. The OFW Serbisyo Caravan, led by the President and First Lady Louise Araneta-Marcos in 11 world cities, offered one-stop aid for migrant Filipinos—honoring their sacrifices.

ENSURING PEACE AND SECURITY Security and peace and order improved with full military support, modernization, and anticrime measures that preserve human dignity. Heightened patrols and anti-illegal drug operations confiscated volumes rivaling the previous administration’s six-year total—with fatalities a mere fraction, emphasizing efficiency over force. Pay hikes and subsistence allowances for uniformed personnel and military ensured their welfare.

President Marcos reaffirmed our ties with partners in the Asia Pacific region, and advanced the nation’s interest in multilateral platforms such as the ASEAN and APEC. Launching the Philippines’ ASEAN 2026 Chairship in November under “Navigating our Future, Together,” he championed peace, prosperity, and empowerment.

2025 under President Marcos wasn’t just progress—it was a pledge being fulfilled. Through accountability, resilience, and inclusive reforms, he delivered tangible change, building a stronger, united Philippines for all. Join the momentum; a brighter future awaits!

Friday, January 2, 2026

A4

www.businessmirror.com.ph

House of Representatives goes digital

By Jovee Marie N. dela Cruz @joveemarie

P

OSITIONING itself as the first in Asia, the House of Representatives announced a comprehensive digital transformation agenda that will see the chamber go fully paperless and adopt blockchain technology beginning in 2026 to strengthen transparency and accountability in the legislative process.

The initiative, Speaker Faustino Dy III said, will position the

Philippine Congress as the first legislative body in Asia to deploy

blockchain technology—an innovation aimed at securing legislative records and strengthening public trust in government processes.

D y descr ibed t he move as a cornerstone of the House’s modernization drive, saying it signals a decisive break from outdated systems toward a more open, secure, and technologydriven legislature.

“As your Speaker, I have always said that trust in government is built not by words alone, but by actions,” Dy said, underscoring that the shift reflects his long-standing view that credibility in public service must be demonstrated through concrete reforms.

He said the transition to a paperless Congress, coupled with the use of blockchain technology, will safeguard the integrity of legislative processes, including budget

preparation, documentation, and record-keeping.

T he project w ill be implemented in coordination w ith the Department of Information and Communications Technology (DICT), ensuring that the shift meets international standards for digital security and governance.

Once completed, Dy said, the reform will place the House at the forefront of legislative innovation in the region.

“Transparency is not merely an ideal or a slogan,” the Speaker said. “It must be embedded in our systems and practiced in our daily work.”

D y added t hat t he d ig ita l overhaul is intended to leave behind an institutional legacy— one that strengthens accountabi l it y, i mproves ef f ic ienc y, and restores public confidence in the legislative branch.

Chinese military drills around Taiwan worry Teodoro

By Rex Anthony Naval

S

ECRETARY of National Defense Gilberto Teodoro Jr. has expressed concern over the Chinese military and coast guard actions around Taiwan that took place early this week.

In a statement, Teodoro said these actions undermine regional

peace and stability and create further cracks in an already fragile geopolitical environment.

“This heightened scale of coercion has implications that extend beyond cross-Strait relations and into the broader Indo-Pacific community,” he said.

Te o doro w a s re fe r r i n g to the series of Chinese militar y

exercises that include live-fire drills and deployment of naval vessels and fighter aircraft around Taiwan.

“Basic principles of self-restraint must be observed, and the rule of international law must not be distorted. The Philippines underscores the importance of upholding international law and

regional norms, including the principles of peaceful management of disputes,” Teodoro said.

In addition, Teodoro also reaffirmed the Philippines’ support for a free, open, stable, and rules-based Indo Pacific, where differences are resolved through peaceful means without deception, coercion, or intimidation.

BCDA: What flood control projects from allocable funds?

By Bless Aubrey Ogerio

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HE Bases Conversion and Development Author it y (BCDA) on Tuesday said it does not fund or implement flood control projects through discretionary sources, as it clarified questions raised over the financing of its infrastructure programs.

In a statement, the BCDA said it does not engage in budget insertions or the use of so-called “allocable funds” for any of its

projects, including those related to flood control.

“No such funds exist within BCDA projects or its authority,” the authority said, adding that claims suggesting otherwise were unsupported by evidence.

The BCDA explained that all of its projects are financed strictly through approved government programs, with funds released by the national treasury and implemented in accordance with the General Appropriations Act.

Moreover, it said project implementation is governed by existing procurement laws and is subject to audit by the Commission on Audit.

Under its mandate, the BCDA undertakes public-private partnerships to develop major public infrastructure and large-scale real estate projects. It is among the government agencies involved in carrying out flagship infrastructure initiatives.

Further, it also said it maintains a zero-tolerance policy toward cor-

ruption, citing multi-layered legal and audit reviews, standardized processes that limit discretion and coordination with oversight institutions.

“BCDA’s records are complete, traceable, and auditable, with project funding, approvals, procurement, and disbursements accessible to oversight institutions,” it said.

Since its creation in 1992, the BCDA has shown a total remittance of P71.18 billion to the national government.

Free Shari’ah legal aid now available to indigent Moro

By Manuel T. Cayon @awimailbox

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AVAO CITY—Poor Moro residents no longer have to face their legal battles alone anymore, the Bangsamoro government said, as it officially launched on December 12 the Shari’ah Public Assistance Office (Spao) in Cotabato City to provide free legal assistance to indigent Bangsamoro constituents.

Bangsamoro Chief Minister Abdulraof Macacua said the Spao “ends the years-long search by less fortunate Bangsamoro for precise

legal guidance on family matters, inheritance, property, and everyday conflicts.”

“Now, they will no longer face their challenges alone. And so, as circumstances often reveal, this legal consultation becomes more than a service. It becomes our way of listening, of understanding real concerns, real situations, and real struggles faced by Bangsamoro people every day,” Macacua said.

His statement was read by his representative Jamel Macacua, the chief of staff of the Office of the Chief Minister (OCM).

“Spao provides our people with

Shari’ah-grounded, culturally sensitive, and reliable legal assistance.

It will help families settle disputes before they grow. It will help young people understand their rights before problems arise. It will guide entrepreneurs who want to grow their businesses the right way,” he said.

Being an autonomous region for Filipino Muslims, Islam’s Shari’ah law is being observed and cases adjudicated in Shari’ah courts established across the mainland Mindanao provinces of Maguindanao del Norte, Maguindanao del Sur and Lanao del Sur, and the southwestern Mindanao island provinces of Basilan and Tawi-

Tawi.Included in them are the cities of Cotabato, Marawi, Isabela and Lamitan.

Arsad Abdulrahman, Spao director, said the office “is committed to serve the Bangsamoro through responsive and cost-free Shari’ah legal aid, guided by the Qur’an, the teachings of Prophet Mohammad [SAW], and the principles of moral governance.”

“We ensure that the indigent litigants will have equal access to justice. This is not just an ordinary occasion but rather a milestone that brings hopes and optimism to the people of the Bangsamoro homeland,” he added.

Govt hospitals impose strict security measures in wake of 2 kidnappings

By Claudeth Mocon-Ciriaco @claudethmc3

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OVERNMENT hospitals have started implementing stricter security measures following the two recent incidents of abduction of newborn babies in the cities of Manila and Marikina, the Department of Health (DOH) said.

Health Secretary Teodoro Herbosa said that stricter entry and exit protocols, as well as mandatory ID checks for those wearing scrub suit, have been implemented.

Herbosa also said that the Health department is now studying the possibility of having Amber and Silver alerts, just like in the United States.

“In Texas, they also have an Amber Alert. We will be starting similar protocols ‘pag may bata or elderly na nawawala na inpatient doon sa current hospital,” Herbosa said as he urged all local governments to increase

vigilance in health facilities.

“Crimes also happen in the hospital,” Herbosa added.

Before midnight of December 29, there was a kidnapping attempt at the Tondo Medical Center. Police said that a nurse prevented the kidnaping after a woman who disguised as a member of the medical staff attempted to get a baby from its mother, saying that the baby will undergo a newborn screening.

On December 26, another woman took an infant from its mother in Amang Rodriguez Memorial Medical Center in Marikina City, under the guise of having the baby undergo newborn screening. The suspect also posed as a nurse.

The police were able to track down the suspect, who it turned out had a miscarriage on December 26 and may be suffering from emotional distress.

The baby was returned to the mother.

Dy renews pledge to uphold transparency, accountability

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HE leadership of the House of Representatives has renewed its pledge to uphold transparency and accountability as the chamber ushers in the new year, stressing the need to restore public trust in the institution.

Speaker Faustino Dy III renewed his call for public trust as he continues to lead initiatives aimed at making Congress more transparent, more streamlined in its processes, and more credible in the eyes of the people.

He called on lawmakers to embrace reflection, gratitude, and a stronger sense of duty to public service, thanking his fellow representatives for their hard work, competence, and willingness to listen even amid disagreements.

Dy emphasized that democracy remains resilient when differing views are addressed with dignity and mutual respect.

The Speaker also recognized House employees, whom he described as the silent backbone of the chamber, noting that their perseverance, professionalism, and dedication underpin every session, piece of legislation, and

decision made by Congress.

Turning to the public, Dy acknowledged widespread frustration and the continuing call for accountability, admitting that the country is going through a period marked by deep disappointment.

He thanked Filipinos for their patience and for giving the House the opportunity to regain their confidence, vowing that lawmakers would do everything possible not to betray that trust.

Looking ahead to 2026, Dy urged unity, respect, and compassion despite differing perspectives, calling on leaders and citizens alike to be forces for unity rather than division, clarity rather than confusion, and healing rather than harm.

“Let us be the sources of unity, not division. Let us speak with clarity, not confusion. Let us choose to heal, not to wound,” Dy said.

“Even if we don’t always agree, may we remain respectful, humane, and compassionate. Differences in perspective should not be a reason for division but an opportunity to listen and understand,” he added. Jovee Marie N. dela Cruz

PNP commits to enhance operations

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HE National Police (PNP) on Thursday committed to further enhance its operations in 2026 to meet the needs of communities.

“We also commit to Enhanced Managing Police Operations, making our actions smarter, faster, and more responsive to the evolving needs of our communities,” the acting PNP chief, Lt. Gen. Jose Melencio Nartatez Jr., said in his New Year’s message.

Nartatez also vowed to uphold integrity monitoring among PNP personnel, noting that discipline, accountability and ethical conduct “must define every police officer at all times.”

Active community support, Nartatez said, will also be deepened as “peace and security are best achieved when police and community stand together in trust and cooperation.”

The PNP chief also said

“utmost importance” will be given to morale and welfare of police officers, recognizing that a motivated and well-supported police force is essential to effective public service.

For the new year, Nartatez said the PNP will continue to strengthen resource management to ensure that every asset, capability and peso entrusted to the organization is used wisely and responsibly.

“As we step into 2026,

NARTATEZ

let us carry forward the spirit of a Bagong PNP para sa Bagong Pilipinas— Serbisyong Mabilis, Tapat, at Nararamdaman [New Philippines-Services that are Fast, Honest and Felt),” he said. PNA

www.businessmirror.com.ph

Friday, January 2, 2026

DA to Congress: Speed up passage of pending agri development bills

By Ada Pelonia @adapelonia

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HE Department of Agriculture (DA) is urging Congress to expedite the passage of long-pending bills that aim to boost the farm sector weighed down by years of weak growth.

Agriculture Secretary Francisco Tiu Laurel Jr. said the DA has sought help from lawmakers to fix the sector’s “structural backbone,” beginning with outdated laws that govern key agencies and slow decision-making.

Tiu Laurel noted that attention is now shifting to commodity laws that “no longer reflect market realities.”

He said amendments affecting rice, corn, and coconut are being queued to bolster value chains and raise farmer incomes. This includes the “long-delayed” unlocking of the Coco Levy Fund.

“With global coconut prices expected to stay high in the coming years, further delays risk squandering a strategic advantage,” Tiu Laurel warned, adding that farmers could “miss out just as global demand peaks.”

Despite this, the DA chief stressed that laws alone will not fix the agriculture sector.

Tiu Laurel urged the return of extension workers to the field as the “front line” of reform, while cooperative-building is being ramped up through new agri-coop programs to widen farmers’ access to credit, markets, and support services.

Congress has passed the Animal Industry and Competitiveness Act to modernize livestock, poultry, and aquaculture, and expanding access to financing with its annual funding of P20 billion over 10 years.

Amendments to the Bureau of Plant Industry (BPI) law are also nearing completion to streamline operations, enhance accountability, and reduce bureaucratic hurdles.

“Several sidelined staff agencies will be restored to full line functions to speed up project delivery,” Tiu Laurel said.

THE legislative drive is being matched by a surge in infrastructure spending, according to the DA. The agency is rolling out mega food hubs in Clark, Bukidnon, Quezon, and other key areas.

Four mega cold storage facilities are set for completion next year, alongside about 60 modular cold storage facilities nationwide, considered the agency’s first large-scale cold chain rollout.

It added that over 140 post-harvest facilities built from 2023 to 2025 will anchor a hub-and-spoke system to reduce losses and stabilize prices, with additional facilities to be funded under the extended Rice Competitiveness Enhancement Fund (Rcef).

The reform push also includes new deepwater agri-ports in Mindoro and Zamboanga del Norte, along with upgrades to a port in Albay.

Tiu Laurel said P2.4 billion has been earmarked next year for port projects, with nearly a dozen agri-ports in the pipeline nationwide to cut logistics costs and boost inter-island trade, especially from Mindanao.

Tiu Laurel said policy is shifting away from an overly rice-centric approach.

“While rice remains a priority, the focus is broadening to sugar, coconut, corn, high-value crops, logistics, and digitalization,” he noted.

A new agriculture command center will be launched by January, alongside efforts to revive the National Food Authority (NFA) and Food Terminal Inc. (FTI) as the government “works to turn agriculture into a growth engine rather than a perennial problem sector.”

Marina: .6-M training certificates issued in 2025

By Lorenz S. Marasigan @lorenzmarasigan

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HE Maritime Industry Authority (Marina) issued 583,642 Standards of Training, Certification and Watchkeeping (STCW) certificates to qualified Filipino seafarers in 2025.

The total includes 520,759 Certificates of Proficiency (COP), 39,397 Certificates of Competency (COC), and 23,486 Global Maritime Distress and Safety System (GMDSS) certificates.

Marina said that each issuance represents “a job enabled, a family supported, and a Filipino trusted on the global stage.”

“In 2025, Marina strengthened the backbone of the maritime industry by ensuring that Filipino seafarers met national and international standards for deployment,” the agency said in a statement.

It noted that the certificates are issued in compliance with national and international maritime standards and are required for the

Alvarez hits Leviste’s ‘inaccurate, misleading’ claims on ‘bonuses’

By Jovee Marie N. dela Cruz

A

@joveemarie

LEADER of the House of Representatives on Thursday refuted allegations of budget misuse and lack of transparency, explaining that the funds highlighted

by Batangas Rep. Leandro Leviste on social media represent standard, legal disbursements allocated to all lawmakers—not Christmas bonuses.

The vice chairperson of the House Committee on Appropriations, Palawan Rep. Jose C. Alvarez, explained that every member of Congress receives compensation and maintenance and other oper-

overseas deployment of Filipino seafarers.

Marina also issued 64,098 new Seafarer’s Identification Documents (SID) and released 9,013 licenses to domestic seafarers during the period.

The agency added 466 new ships to the domestic fleet through local construction and importation, and issued 761 Certificates of Public Convenience to ensure safe and reliable maritime transport services.

Marina said the figures reflect its commitment to efficient service delivery, regulatory integrity, and maintaining the global competitiveness of Filipino seafarers in the international maritime industry.

“These numbers are not just outputs. They are livelihoods protected. They are journeys made possible. They are people that arrive home safely,” Marina said.

The Philippines is among the world’s largest suppliers of seafarers, with hundreds of thousands of Filipino crew members employed on vessels worldwide.

ating expenses (MOOE) to cover the daily operations of their district offices, including staff salaries, utilities, and basic services for constituents. He stressed that labeling these routine operational

expenses as “bonuses” is misleading and inaccurate.

“There is nothing irregular about the checks issued to Representative Leviste. They aren’t Christmas bonuses as he alleges,” Alvarez said.

“These are lawful, audited, and well-documented disbursements that every member of the House receives to cover the salaries of legislators and to ensure their district offices can function properly and deliver services on the ground,” he added.

A lvarez also clarified that, contrary to claims of a budget increase, the House of Representatives’ budget for 2026 is significantly lower than the previous year.

“In 2025, the House had a budget of P33.7 billion. For 2026, this was reduced to P27.7 billion,” Alvarez said. “That alone should already put to rest claims that the

House increased its own budget.”

He added that the alleged P10billion “increase” cited in reports is not an increase but simply the difference between the National Expenditure Program (NEP) and the final General Appropriations Act (GAA) after Congress exercised its constitutional power of the purse.

As a member of the bicameral conference committee, Alvarez emphasized that the House budget is subjected to the same scrutiny as all other government agencies, including committee hearings, plenary debates, Commission on Audit reviews, and public disclosure.

“The House has nothing to hide.

This is the most open budget in history. The whole process was livestreamed, and the budget remains open, documented, and subject to audit. Claims of misuse should be backed by facts, not baseless speculation,” he added.

PHL to anchor ’26 Asean economic agenda on large-scale business matching–Roque

By Bless Aubrey Ogerio

Infrastructure

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HE Philippines will anchor its economic agenda for the 2026 Association of Southeast Asian Nations (Asean) chairmanship on large-scale business matching, with the government aiming to connect regional companies across a wide range of industries during summits and related meetings.

Trade Secretary Cristina Roque said the strategy is intended to bring companies together for di-

rect engagement as Manila prepares to host Asean leaders, ministers and business delegations next year.

“Our strategy is to do a major business matching,” Roque told reporters.

She said the government plans to open the platform to sectors where the Philippines already has established capacity or growing participation, including renewable energy, minerals, semiconductors, the creative economy, and women-led enterprises.

She added that micro, small, and medium enterprises (MSMEs), as well as initiatives on digitalization and artificial intelligence, are also part of the planned focus.

“All the sectors that are strong,” Roque said, citing the need to widen participation rather than limit engagements to a few industries.

Furthermore, she noted that hosting Asean meetings in the Philippines provides a distinct setting for regional engagement, as companies and officials can observe the

local business environment firsthand, rather than relying solely on overseas meetings or smaller delegations.

“Somet imes, we just meet them in their country, or they just send their deputies or representatives. Now, they’ll really see how everything is—the landscape, the setup, how everything goes,” Roque said.

Congress has approved P17.5 billion to fund the country’s hosting of the Asean meetings and preparatory activities.

PhilHealth set to shut down Ekonsulta system

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HE Philippine Health Insurance Corporation (PhilHealth) will permanently shut down its eKonsulta system as part of the full implementation of the Yaman ng Kalusugan Program (Yakap).

In a public advisory, PhilHealth announced it will decommission its eKonsulta system on July 1, 2026, and that all clinics must be fully migrated by this date.

The move is part of the rollout of Yakap, which requires a fully interoperable system that allows real-time electronic submission and validation of health data.

PhilHealth’s Yakap builds on the Konsulta Program by redesigning provider engagement mechanisms for outpatient diagnostics and pharmaceuticals, improving access and shifting from reactive

treatment to proactive wellness.

Yakap offers an expanded package of accessible health services, including primary care checkups, medicines, basic laboratory tests and screening.

PhilHealth said that the eKonsulta system was only intended as a temporary platform and it can no longer support the growing data-processing requirements of Yakap, particularly the need for real-time electronic validation, system interoperability and faster claims processing.

“Critical to ensuring efficient implementation of Yakap is a capable and fully interoperable Yakap system that can enforce real-time electronic submission and validation of health data,” PhilHealth said.

Providers who submit data

in real-time will benefit from reduced claims denials, quicker claims settlement and seamless interoperability with PhilHealth systems, the state health insurer added.

Accredited Yakap clinics that are still using eKonsulta were instructed to encode all patient data after every encounter, download the corresponding Extensible Markup Language file and submit it daily through the Health Care Institution Portal or their respective Local Health Insurance Offices (LHIOs).

By April 1, 2026, all Yakap clinics using eKonsulta must submit a conforme to their LHIOs declaring their chosen certified electronic medical record (EMR) provider.

From April to June 2026, clinics are required to migrate all patient

data from eKonsulta to their new EMR systems with assistance from their selected providers.

For newly accredited Yakap c l i n ics i n 2026, engagement with a certified EMR provider will already be part of the accreditation requirements, PhilHealth added.

All Yakap providers are also reminded to continue conducting PhilHealth Check Utility liveness checks after every patient encounter and to secure Yakap Empanelment Slips, or mutual care agreements, after the first patient encounter.

This is to ensure quality of care and smoother Special Assistance Program payments processing, in line with PhilHealth Circular 2025-0017 issued in October last year, it added. Reine Juvierre S. Alberto

DSWD to focus on improving people’s quality of life

A

S 2026 begins, the Department of Social Welfare and Development (DSWD) reaffirmed its commitment to improve the quality of life of Filipinos, supporting the government’s goal of inclusive growth and social protection.

DSW D A ssistant Secretar y I re ne D u m l ao, t he a ge nc y ’s spokesperson, made a statement amid the latest Social Weather Stations (SWS) survey showing that 29 percent of Filipino adults reported an improvement in their quality of life (“gainers”), 36 percent said it worsened (“losers”), and 34 percent noted no change

(“unchanged”). This results in a Net Gainers score of –7 (gainers minus losers), which SWS classified as fair. “ We rema in committed to strengthening social protection programs, expanding poverty alleviation services, and enhancing community resilience to ensure improved well-being for all Filipino families,” said Dumlao.

Regionally, the survey revealed mixed results: Mindanao recorded the highest Net Gainers score at +2 (high), Balance Luzon at –7 (fair), while Metro Manila and the Visayas fell to “mediocre” levels at –12 and –14, respectively.

Overall, 44 percent of adults expressed optimism about improving their quality of life in the next 12 months.

In line with the President’s call for a more transparent and people-centered budget, Dumlao emphasized that the DSWD will ensure responsible and effective use of public funds once the 2026 General Appropriations Act (GAA) is signed into law.

“The DSWD will support the Marcos administration’s call to responsibly use the funds through prudent spending, execution of strong accountability measures, and implementation of social wel-

fare and development programs that will help advance inclusive growth, protect the most vulnerable, and deliver meaningful improvements to the marginalized sector,” Dumlao said.

The SWS survey was conducted nationwide via face-to-face interviews from November 24 to 30, 2025, among 1,200 adults aged 18 and above—300 respondents each from Metro Manila, Balance Luzon, the Visayas, and Mindanao. The reported sampling error margins are ±3% for national percentages and ±6% for each regional group.

Jovee Marie N. dela Cruz

The World BusinessMirror

A6 Friday, January 2, 2026

Editor: Angel R. Calso

frees 18 Cambodian prisoners Japan’s rapid military transformation sparks Thailand of war as part of ceasefire agreement alarm in Beijing as postwar pacifism fades

By Sopheng Cheang & Wasamon Audjarint The Associated Press

By Mari Yamaguchi

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P

The Associated Press

OKYO—Japan is barreling forward with efforts to significantly boost its military capabilities to stand up to China’s growing threats by doubling annual arms spending.

The goal comes as Tokyo’s main ally, the United States, pushes for more military assistance in Asia and a military hawk and ultra-conservative takes over Japan’s leadership.

Japan says it is still a peaceful nation and the buildup is necessary for a more self-reliant military that can better deter China. But Beijing and other critics see Japan as deviating from its postwar peace pledge, pointing to Prime Minister Sanae Takaichi’s statement soon after taking office that any Chinese military action against Taiwan could be grounds for a Japanese military response.

Japan’s transformation into one of the world’s major defense spenders has developed over decades and raises the question of whether the ongoing buildup is a violation of its pacifist constitution.

Here is a closer look.

Japan’s constitution has been hollowed out AFTER World War II, Japan was not supposed to have a military.

During the 1945-1952 US occupation, American officials wanted to stamp out the militarism that led to Japanese aggression across Asia before and during the war.

Under Article 9 of the US-drafted 1947 constitution, Japan renounced the use of force to settle international disputes, and the right to maintain land, sea and air forces for that purpose.

The US changed its mind about Japanese militarism when the Korean War started in 1950. Japan became an ally, not a threat, leading to the creation of the Japanese Self-Defense Forces in 1954. Article 9 is now widely seen as the legal basis for Japan to have a sufficient military to defend itself.

Japan has since repeatedly stretched the definition of self-defense, allowing overseas dispatches of its troops as part of international peacekeeping operations, though mostly avoiding combat missions.

A big change came in 2014, under former Prime Minister Shinzo Abe, who wanted Japan to have a normal military. Abe newly interpreted Article 9 as legalizing collective defense. The following year, a security law allowed Japan to use force if the United States or other friendly nations come under enemy attack, even if Japan is not being attacked.

This was Abe’s attempt to have a normal military without formally changing the constitution.

Takaichi angered China by giving a hypothetical example of such a situation, a deviation from former leaders’ strategic ambiguity.

Tensions with China worsen THE flap with Beijing escalated in December when Chinese aircraft locked their radars, considered possible preparation for firing missiles, on Japanese planes during Chinese aircraft carrier drills near southwestern Japan.

Two Chinese aircraft carriers also were spotted in June operating near the southern Japanese island of Iwo Jima for the first time. This led to worry in Tokyo about Beijing’s rapidly expanding military activity far beyond its borders and in areas around islands claimed by both countries.

Takaichi’s Cabinet last week approved a record defense budget plan.

It exceeds 9 trillion yen ($58 billion) for the coming year and aims to fortify its strike-back capability and coastal defense with cruise missiles and unmanned arsenals.

In Beijing later that day, Foreign Ministry spokesperson Lin Jian criticized the Takaichi government for accelerating the pace of its military buildup and expansion, and added: “Japan is deviating from the path of peaceful development it has long claimed to uphold and is moving further and further in a dangerous direction.”

China, which spends a huge amount on its own defense, may also see Takaichi as a defender of Japanese wartime aggression. Before taking office,

THIS photo provided by Japan’s Ministry of Defense shows the Japan Air Self-Defense Force’s F-15 fighters holding a joint military drill with the US B-52 bomber in the vicinity of Japanese airspace on Wednesday, Dec. 10, 2025. JAPAN’S MINISTRY OF DEFENSE VIA AP she was a regular at Tokyo’s Yasukuni Shrine, which honors Japan’s 2.5 million war dead, including convicted war criminals. Victims of Japanese aggression, especially China and the Koreas, see visits to the shrine as tantamount to a lack of remorse about Japan’s wartime past.

Takaichi stayed away from Yasukuni in 2025 and sent a religious ornament marking the Aug. 15 anniversary of Japan’s defeat as a personal gesture instead of praying at the shrine.

Japan takes on more offensive roles A FUNDAMENTAL change came in December 2022 when former Prime Minister Fumio Kishida’s government adopted a security strategy stating the need for Japan to acquire strike-back capability with long-range missiles, a major break from Japan’s self-defenseonly policy.

The strategy names China as Japan’s biggest strategic challenge and calls for a more offensive role for Japanese troops under its security alliance with the US as the allies work more closely together.

Masahiro Sakata, former head of the Cabinet Legislative Bureau, described the move as “the death of Article 9.”

After the war, Japan long prioritized economic development over defense while relying largely on the US by hosting about 50,000 American troops who also serve the region.

Japan maintained a defense spending cap of 1% of GDP until the annual defense budget started to rise under Abe’s nearly decade-long leadership, to about 1.1%. Takaichi is certain to achieve a 2% target by March, two years earlier than planned, and is expected to push for more spending in

coming years as Japan is under growing pressure after NATO adopted a new target of 5%.

Japan plans to promote defense industry TAKAICHI’S revised security and defense policy would aim to further bolster Japan with unmanned combative weapons and long-range missiles. It is expected to scrap remaining restrictions on arms exports to promote the development of Japan’s defense industry and cooperation with friendly nations.

Japan has long banned arms exports but has significantly eased restrictions in recent years and is now developing next-generation fighter jets with the UK and Italy while finalizing a deal to sell frigates to Australia. Japan also will to provide support for construction and maintenance for US warships.

A government-commissioned panel has proposed Japan consider developing a nuclear submarine to achieve a more long-distance deterrence capability, a controversial idea for a country that has long maintained non-nuclear principles.

Japan has requested Washington to ensure protection through the extended deterrence of nuclear weapons. A number of officials recently expressed support for Japan’s nuclear possession, which has led to criticism from Japanese atomic bomb survivors and other pacifist groups.

Japan stands by its three non-nuclear principles of not possessing, not producing and not allowing its presence, according to Defense Minister Shinjiro Koizumi, although he said Japan is considering all options for a possible new submarine.

China announces it ‘successfully completed’ Taiwan military drills

By Ted Anthony AP National Writer

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EIJING—China’s People’s Liberation Army said Wednesday that it “successfully completed” two days of military exercises in the waters off Taiwan, concluding a set of high-powered maneuvers aimed at asserting its sovereignty over the island—actions that ratcheted up tension in East Asia during 2025’s waning days.

In a New Year’s Eve announcement, the PLA said that the operation it called “Justice Mission 2025” had “fully tested the integrated joint operations capabilities of its troops.”

“Always on high alert, the troops of the Theater Command will keep strengthening combat readiness with arduous training, resolutely thwart the attempts of ‘Taiwan Inde-

pendence’ separatists and external intervention, and firmly safeguard state sovereignty and territorial integrity,” Senior Capt. Li Xi, spokesperson for the PLA’s Eastern Theater Command, was quoted as saying.

The brief announcement, presented on video accompanied by rousing martial music, offered no details about what constituted success, nor did it specify exactly when the exercises concluded. An earlier announcement had said they would take place during the day Monday and Tuesday, but it was unclear if any lingering drills had continued into Wednesday around Taiwan.

Sensitivities around Taiwan abound

TAIWAN has long been China’s most sensitive issue when it comes to the interna-

tional community.

Beijing has long insisted the island is its sovereign territory and has promised to retake it by force if necessary. The selfgoverning island split from the mainland in 1949 after Chiang Kai-shek’s Nationalists retreated there upon losing a civil war with Mao Zedong’s communists. That communist government has ruled the rest of China ever since.

Beijing sends warplanes and navy vessels toward the island on a near-daily basis, and in recent years it has stepped up the scope and scale of the exercises.

Chinese President Xi Jinping also weighed in Wednesday, albeit obliquely, making a brief reference to the Taiwan situation in an annual New Year’s Eve speech to the nation. He said Chinese people on both sides of the Taiwan Strait share “a bond of blood and kinship.”

“The reunification of our motherland, a trend of the times, is unstoppable,” Xi said.

This week’s military maneuvers were received in many corners as inflammatory, and China itself acknowledged they were designed to send a message to “external forces”—in short, anyone who might come between its government and the island it prizes.

Drills have been received critically

RESIDENTS use their smartphones to film a large screen at a shopping mall showing CCTV broadcasting Chinese President Xi Jinping delivering his 2026 New Year message, in Beijing, Wednesday, Dec. 31, 2025. AP PHOTO/ANDY WONG

IT has some targets in mind in that respect. In November, the prime minister of Japan—a nation that has a bumpy history

with China after brutally colonizing parts of it in the early 20th century—said she wouldn’t rule out military intervention if Taiwan faced direct attack by the PLA. The Japanese Foreign Ministry said Wednesday that China’s military exercises around Taiwan is “an act that escalates tension in the Taiwan Strait” and that it has conveyed the concern to Beijing.

“Japan expects the issues surrounding Taiwan to be resolved peacefully through dialogue, which is a position that the Japanese government has consistently maintained all along,” it said in a statement. “The peace and stability in the Taiwan Strait are important for the entire international community.

Japan continues to watch the related development with strong interest.”

And in mid-December, the United States announced a package of arms sales to Taiwan that, if approved by Congress, would represent the largest such aid to the island ever—a move criticized sharply by China.

In the Philippines, which has intermittent disputes with China over other territory in the South China Sea, Defense Minister Gilberto C. Teodoro Jr. said he was “deeply concerned by China’s military and coast guard actions around Taiwan,” saying they undermine stability “in an already fragile geopolitical environment.”

Associated Press journalists Jim Gomez in Manila, Mari Yamaguchi in Tokyo and Simina Mistreanu in Beijing contributed.

HNOM PENH, Cambodia— Thailand on Wednesday released 18 Cambodian prisoners of war held for five months, fulfilling the terms of a ceasefire agreement the two countries signed to end bitter fighting along their border.

The release was stipulated in the ceasefire agreement, signed Saturday by the defense ministers of the two countries at the same border checkpoint between Thailand’s Chanthaburi province and Cambodia’s Pailin province where the soldiers were released.

“The repatriation of the 18 Cambodian soldiers was undertaken as a demonstration of goodwill and confidence-building, as well as in adherence to international humanitarian principles,” Thailand’s Foreign Ministry said in a statement.

Cambodia’s Defense Ministry said the release “creates an environment conducive to peace, stability, and the full normalization of relations for the benefit of both nations and their people in the near future.”

The soldiers’ release removes a major impediment toward that goal after two rounds of destructive combat over competing territorial claims.

Thailand insisted it was allowed to hold the men under the Geneva Conventions’ rules of war, which say prisoners can be detained until the end of hostilities. The prisoners were allowed visits by the International Committee of the Red Cross and other rights covered under international humanitarian law, Thai authorities said.

Their continued detention was used effectively by Cambodia’s government to rally nationalist sentiment in the conflict against Thailand.

Wednesday’s statement from Cambodia’s Defense Ministry said the government “has remained steadfast in the promise made to the families of the 18 soldiers and the Cambodian people: that no soldier would be left behind.”

The former prisoners were flown in the afternoon from western Cambodia to the capital, Phnom Penh, where they were greeted with hugs and visible emotion by their families as they stepped off a helicopter at the city’s old airport.

They and their families were then taken by buses for what was reported to be a planned private meeting with Prime Minister Hun Manet.

Crowds outside the airport gates cheered and waved small flags as their motorcade passed. The freed men acknowledged the welcome by waving or displaying the traditional Asian greeting of clasping hands in prayer-like fashion in front of one’s face or chest.

The ceasefire agreement said the soldiers would be freed if the end of combat was sustained for 72 hours after it came into effect at noon on Saturday. The 72 hours passed on Tuesday, but Thai authorities said they needed to evaluate the situation, claiming that 250 Cambodian drones had been active along the border.

The two countries had given differing accounts of the circumstances of the men’s capture, which took place on the same day the initial ceasefire came into effect at the end of July.

Cambodian officials say their soldiers approached the Thai position with friendly intentions to offer postfighting greetings, while Thai officials said the Cambodians appeared to have hostile intent and entered what Thailand considers its territory and subsequently were taken prisoner.

There were originally 20 Cambodia soldiers taken captive, but two were repatriated within days for what were said to be medical reasons.

The original July ceasefire was brokered by Malaysia and pushed through by pressure from US President Donald Trump, who threatened to withhold trade privileges unless Thailand and Cambodia agreed. It was formalized in more detail in October at a regional meeting in Malaysia that Trump attended.

In Washington, the State Department welcomed steps taken to revive the ceasefire, including the release of the Cambodian troops.

“This demonstrates both countries’ commitments to lasting peace by implementing the provisions of the Kuala Lumpur Peace Accords,” the department said in a statement.

Despite those deals, the countries carried on a bitter propaganda war and minor cross-border violence continued, escalating in early December to widespread heavy fighting.

Thailand lost 26 soldiers and one civilian as a direct result of the combat since Dec. 7, according to officials.

Thailand also reported 44 civilian deaths.

Wasamon Audjarint reported from Bangkok.

New deep-sea search for missing MH370 begins in Indian Ocean, reviving decade-old mystery

By Aniruddha Ghosal & Haruka Nuga The Associated Press

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ANOI, Vietnam — A deep-sea search for Malaysia Airlines Flight 370 began in the Indian Ocean on Wednesday, reviving efforts to solve one of aviation’s greatest mysteries more than a decade after the jet vanished with 239 people on board.

Malaysia’s Transport Ministry said Wednesday that a search vessel, the Armada 86 05, arrived at a designated search area with two autonomous underwater vehicles.

The location of the search area was not disclosed in the statement. It said the vessel had prepared for the search in Fremantle Port in Western Australia.

The government did not specifically mention Ocean Infinity, the company that helmed a previous search and had long been slated to lead the new one. But the craft that the government specified by number has been widely identified by maritime and aviation websites as belonging to Ocean Infinity.

Earlier in December, the Malaysian government said that the Texas-based marine robotics firm would begin searching targeted areas of the seabed under a renewed “no-find, no-fee” agreement.

Ocean Infinity has confirmed it was resuming the search for MH370 but refused to comment further, citing the “important and sensitive nature”

of the operation.

Ocean Infinity previously searched the seabed in 2018, under a similar contract but found no trace of the plane.

The company has said it has since upgraded its technology and refined its analysis. Its CEO Oliver Plunkett said last year the firm was working with multiple experts and had narrowed the search zone to what it believes is the most probable crash site.

Earlier this year, Ocean Infinity briefly restarted seabed search operations in a new 15,000-square-kilometer (5,800-square-mile) area of the southern Indian Ocean after receiving approval from Malaysia, but the effort was suspended in April because of poor weather.

The Malaysia Airlines plane disappeared from radar shortly after taking off from Kuala Lumpur for Beijing on March 8, 2014. Satellite data later showed the aircraft veered from its planned route and flew south toward the remote southern Indian Ocean, where investigators believe it crashed.

There has never been an explanation for the course change.

A costly and protracted multinational search effort failed to locate the aircraft, though pieces of debris believed to be from the plane later washed up along the East Africa coast and on Indian Ocean islands. No main wreckage or bodies have ever been recovered.

Nuga reported from Bangkok.

The World BusinessMirror

www.businessmirror.com.ph

Friday, January 2, 2026 A7

Cities around the world welcome 2026 with thunderous fireworks, heightened security

By Ted Shaffrey & Hallie Golden

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countdown clocks and a light show at midnight.

And in Gaza, Palestinians said they hope the new year brings an end to the conflict between Israel and Hamas.

“The war humiliated us,” said Mirvat Abed Al-Aal, displaced from the southern city of Rafah.

The Associated Press

EW YORK—From Sydney to Paris to New York City, crowds rang in the new year with exuberant celebrations filled with thunderous fireworks or light shows, while others took a more subdued approach.

As the clock struck midnight in Japan, temple bells rang and some climbed mountains to see the year’s first sunrise, while a light show with somersaulting jet skis twinkled in Dubai. The countdown to 2026 was projected onto the Arc de Triomphe in Paris, while in Moscow people celebrated in the snow.

In New York City’s Times Square, revelers braved frigid temperatures to celebrate with the famed New Year’s Eve ball drop.

In Rio de Janeiro, crowds packed more than 4 kilometers (2 1/2 miles) of the city’s Copacabana Beach for concerts and a 12-minute fireworks show, despite high tides and large waves that rocked barges carrying fireworks.

Other events were more subdued.

Hong Kong held limited celebrations following a recent fire at an apartment complex that killed 161 people. Australia saluted the new year with defiance less than a month after its worst mass shooting in almost 30 years.

Around Europe

Ball drop in New York City CROWDS bundled up against the chilly temperatures cheered and embraced as the New Year’s Eve ball covered in more than 5,000 crystals descended down a pole and confetti fell in Times Square.

Revelers wearing tall celebratory hats and light-up necklaces had waited for hours to see the 12,350-pound (5,602-kilograms) ball drop. The festivities also included Tones and I performing John Lennon’s “Imagine” just before midnight.

The television hosts interviewed visitors who were attending from such places as Florida, Mexico and South Korea, and read people’s wishes for the new year. A sixth grader from Dallas, Texas, told one of the hosts that he wants to get good grades in 2026 and have a better year.

Police in the city had planned additional anti-terrorism measures at the ball drop, with “mobile screening teams.” It was not in response to a specific threat, according to NYPD

FIREWORKS explode around the Burj Khalifa, the world’s tallest building, during New Year’s Eve celebrations in Dubai, United Arab Emirates, Thursday, Jan. 1, 2026. AP PHOTO/FATIMA SHBAIR Commissioner Jessica Tisch.

Moments after the ball dropped it rose again, sparkling in red, white and blue, to mark the country’s upcoming 250th birthday.

A few miles away in a decommissioned subway station, Zohran Mamdani was sworn in as mayor during a private event just after midnight Thursday.

More security in Sydney A HEAVY police presence monitored crowds watching fireworks in Sydney.

Many officers openly carried rapid-

fire rifles, a first for the event, after two gunmen targeted a Hannukah celebration at Bondi Beach on Dec. 14, killing 15.

An hour before midnight, victims were commemorated with a minute of silence, and the crowd was invited to show solidarity with Australia’s Jewish community.

New South Wales Premier Chris Minns had urged residents not to stay away from festivities, saying extremists would interpret smaller crowds as a victory: “We have to show defiance

in the face of this terrible crime.”

Shadows of war and disasters INDONESIA scaled back festivities in solidarity with communities devastated by floods and landslides in parts of Sumatra a month ago that killed over 1,100. Fireworks on the tourist island of Bali were replaced with traditional dances.

Hong Kong rang in 2026 without fireworks over Victoria Harbor after the massive fire in November. Facades of landmarks were turned into

POPE LEO XIV closed out the year with a plea for the city of Rome to welcome foreigners and the fragile. Fireworks erupted over European landmarks, from the Colosseum in Rome to the London Eye. In Paris, revelers converged around the glittering Champs-Élysées Avenue. Taissiya Girda, a 27-year-old tourist from Kazakhstan, expressed hope for a calmer 2026.

“I would like to see happy people around me, no war anywhere,” she said. “Russia, Ukraine, Palestine, Israel, I want everybody to be happy and in peace.”

In Scotland, where New Year’s is known as Hogmanay, First Minister John Swinney urged Scots to follow the message of “Auld Lang Syne” by national poet Robert Burns and show small acts of kindness.

Greece and Cyprus turned down the volume, replacing traditional fireworks with low-noise pyrotechnics in capitals. Officials said the change was intended to make celebrations more welcoming for children and pets.

Golden reported from Seattle. Associated Press writers around the world contributed to this report.

Pope asks that Rome welcome foreigners as he closes out 2025 HK greets 2026 without fireworks

R

OME—Pope Leo XIV closed out 2025 on Wednesday with a prayer that the city of Rome might be a welcoming place for foreigners and fragile people, young and old.

Leo presided over a New Year’s Eve vespers service in St. Peter’s Basilica, giving thanks for the 2025 Holy Year that brought millions of pilgrims to Rome in the once-every-quartercentury celebration of Christianity.

Leo will officially close out the Jubilee on Jan. 6. But in his homily, he thanked the city of Rome and the volunteers who helped keep crowds moving as they visited St. Peter’s and passed through its Holy Door.

He recalled that Pope Francis, who inaugurated the Holy Year on Dec. 24, 2024, had asked that Rome be a more

POPE Leo XIV arrives to preside over the first Vespers and the ‘Te Deum’ in St. Peter’s Basilica at the Vatican, Wednesday, Dec. 31, 2025. AP PHOTO/ANDREW MEDICHINI welcoming place. “I would like it to be so again, and I would say even more so after this time of grace,” Leo said.

“What can we wish for Rome? That it may be worthy of its little ones. Of children, of lonely and fragile elderly

people, of families who struggle to get by, of men and women who have come from afar hoping for a dignified life,” he said.

In the pews was Rome Mayor Roberto Gualtieri and other dignitaries.

In addition to the Jubilee, 2025 was momentous because of the papal transition after Francis died in April and cardinals elected history’s first pope from the United States.

The Vatican this week released statistics showing 3.2 million people had participated in Vatican liturgies, audiences, Angelus prayers and Jubilee audiences this year. The numbers were small in the first quarter, given Francis’ long hospitalization and illness, and then greatly shot up after Leo’s May election. AP

UN team makes first visit to el-Fasher since its fall, finding dire conditions

By Fatma Khaled The Associated Press

C

AIRO—A UN humanitarian team visited el-Fasher in Sudan’s Darfur region for the first time since a paramilitary force overran the city in October, carrying out a rampage that is believed to have killed hundreds of people and sent most of the population fleeing.

The hours-long visit gave the U.N. its first glimpse into the city, which remains under control of the Rapid Support Forces.

The team found hundreds of people still living there, lacking adequate access to food, medical supplies and proper shelter, the U.N. said Wednesday.

“It was a tense mission because we’re going into what we don’t know … into a massive crime scene,” Denise Brown, the U.N. humanitarian coordinator for Sudan, said of Friday’s visit.

For the past two months, el-Fasher has been nearly entirely cut off from the outside world, leaving aid groups unsure over how many people remained there and their situation. The death toll from the RSF takeover, which came after a more than a year-long siege, remains unknown.

Survivors among the more than 100,000 people who fled el-Fasher re-

ported RSF fighters gunning down civilians in homes and in the streets, leaving the city littered with bodies. Satellite photos have since appeared to show RSF disposing of bodies in mass graves or by burning them.

Brown said “a lot of cleaning up” appeared to have taken place in the city over the past two months. The U.N. team visited the Saudi Hospital, where RSF fighters reportedly killed 460 patients and their companions during the takeover.

“The building is there, it’s clearly been cleaned up,” Brown said of the hospital.

“But that doesn’t mean by any stretch of the imagination that this story has been wiped clean because the people who fled, fled with that story.”

El-Fasher lacks shelters and supplies

EL-FASHER, the capital of North Darfur state, had been the last stronghold of the Sudanese military in the Darfur region until the RSF seized it. The RSF and the military have been at war since 2023 in a conflict that has seen multiple atrocities and pushed Sudan into one of the world’s worst humanitarian crises.

The U.N. team visiting el-Fasher focused on identifying safe routes for humanitar-

ian workers and conducted only an initial assessment on the situation on the ground, with more teams expected to enter, Brown said.

“Villages around el-Fasher appeared to be completely abandoned. We still believe that people are being detained and that there are people who are injured who need to be medically evacuated,” said Brown, citing the initial UN findings.

The exact number of people still living in the city is hard to determine, but Brown said they’re in the hundreds and they lack supplies, social services, some medications, education and enough food.

They are living in deserted buildings and in shelters they erected using plastic sheets, blankets and other items grabbed from their destroyed homes. Those places lack visible toilets and access to clean drinking water.

The first charity kitchen to operate since the city’s fall opened Tuesday in a school-turned- shelter, according to the Nyala branch of the local aid initiative Emergency Response Rooms (ERR). The charity kitchen will be operated by ERR Nyala, serving daily meals, food baskets, and shelter supplies. More community kitchens are expected to open across 16 displacement centers, sheltering at least

100 people.

The UN team found a small open market operating while they were in the city, selling limited local produce such as tomatoes and onions. Other food items were either unavailable or expensive, with the price of one kilogram (2.2 pounds) of rice reaching as high as $100, Brown said.

‘Paralyzed’ health care system

MOHAMED ELSHEIKH, spokesperson for the Sudan Doctors Network, told The Associated Press Wednesday that medical facilities and hospitals in el-Fasher are not operating in full capacity.

“El-Fasher has no sign of life, the healthcare system there is completely paralyzed. Hospitals barely have access to any medical aid or supplies,” he added.

Brown described the situation in elFasher as part of a “pattern of atrocities” in this war that is likely to continue in different areas.

The United States has accused the RSF of committing genocide in Darfur during the war, and rights groups said the paramilitaries committed war crimes during the siege and takeover of el-Fasher, as well as in the capture of other cities in Darfur. The military has also been accused of rights violations.

after deadliest blaze in decades

By Kanis Leung

The Associated Press

H

ONG KONG—Fireworks are typically a celebratory centerpiece of Hong Kong’s New Year celebrations. Not this year.

The territory greeted 2026 without spectacular and colorful explosions in the sky over its iconic Victoria Harbor after a massive fire in November that killed at least 161 people.

The city’s tourism board instead hosted a music show Wednesday night featuring soft rock duo Air Supply and other singers in Central, a business district that also is home to the famous nightlife hub Lan Kwai Fong. The facades of eight landmarks turned into giant countdown clocks presenting a three-minute light show at midnight.

Fireworks have long been part of the city’s celebrations for the New Year, Lunar New Year and National Day. The pyrotechnic displays against Hong Kong’s world-famous skyline of skyscrapers typically draw hundreds of thousands of people including many tourists to both sides of the promenade.

Hotels and restaurants likely affected ROSANNA Law, the territory’s secretary for culture, sports and tourism, acknowledged Tuesday that having no fireworks would affect some hotel and restaurant businesses.

Annie Wang, a tourist from Shanghai, said that although she had planned to watch the fireworks show, she understood the city’s decision because she found news of the blaze heartwrenching.

“It’s quite regretful. But there’s no way around it after the fire,” said Wang, a university student.

Wang Miao, a teacher from the neighboring economic hub of Guangzhou, planned to join the official countdown activities in Central despite the absence of fireworks. She said it was a pity that she could not see pyrotechnics, but she could understand why.

“It doesn’t affect our experience in Hong Kong,” Wang said.

By early Wednesday evening ,

crowds of revelers had already gathered near the performance stage in Central, hoping to secure the best views of the musical performance.

Worst fire since the 1940s for Hong Kong THE financial hub’s worst blaze since 1948 broke out at Wang Fuk Court, in the northern suburban district of Tai Po, in late November. The apartment complex was undergoing a monthslong renovation project with buildings covered by bamboo scaffolding and green netting.

Authorities have pointed to the substandard netting and foam boards installed on windows as contributing factors in the fire’s rapid spread. Thousands of affected residents have moved to transitional homes, hotels and youth hostels, struggling to recover from the loss of lives and homes that took them years to buy. The casualties pained many residents across the city.

Past tragedies in Hong Kong have forced similar cancellations of fireworks. They include the 2013 National Day festivities following a vessel collision that killed 39 people on Oct. 1, 2012, and the 2018 Lunar New Year celebration after a bus crash that left 19 dead. During the 2019 anti-government protests and the Covid-19 pandemic, multiple displays also were scrapped.

The origin of fireworks is believed to date to China in the second century B.C., when someone discovered bamboo stalks exploded with loud bangs when thrown into fire, creating the first natural “firecrackers,” according to the American Pyrotechnics Association, a US trade group.

The Guinness World Records organization says the first accurately documented firework, the Chinese firecracker, was created by Li Tian, a monk from China’s Tang dynasty dating to around 618 to 907 C.E. Li discovered that putting gunpowder in enclosed hollow bamboo stems created loud explosions and bound crackers together to create the traditional New Year firecrackers to drive out evil spirits, Guinness said.

The World BusinessMirror

A8 Friday, January 2, 2026

www.businessmirror.com.ph

Russian drones strike Odesa, injuring civilians as peace talks progress amid continuing war

By Illia Novikov The Associated Press

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Y I V, U k ra ine —Russia n drones blasted apartment buildings and the power grid in the southern Ukraine city of Odesa in an overnight attack that injured six people, including a toddler and two other children, officials said Wednesday.

Russian President Vladimir Putin expressed confidence in his country’s eventual victory in the nearly fouryear war against its neighbor.

Four apartment buildings were damaged in the Odesa bombardment, according to regional military administration head Oleh Kiper. The DTEK power provider said two of its energy facilities had significant damage. The company said 10 substations that distribute electricity in the region have been damaged in December.

Russia has escalated attacks on urban areas of Ukraine. As its invasion approaches a four-year milestone in February, it has also intensified targeting of energy infrastructure, seeking to deny Ukrainians heat and running water in the bitter winter months.

Between January and November, more than 2,300 Ukrainian civilians were killed and more than 11,000 were injured, the United Nations said earlier in December. That was 26% higher than in the same period in 2024 and 70% higher than in 2023, it said.

Renewed diplomatic push to stop the fighting

TRUMP’S special envoy Steve Witkoff said he, Secretary of State Marco Rubio and Trump’s son-in-law and adviser Jared Kushner had a “productive call” with the national security advisers of Britain, France, Germany and Ukraine “to discuss advancing the next steps in the European peace process.”

“We focused on how to move the discussions forward in a practical way on behalf of (Trump’s) peace process, including strengthening security guarantees and developing effective deconfliction mechanisms to help end the war and ensure it does not restart,” Witkoff said in a post on X. He added that a main element of the conversation was the reconstruction of Ukraine and how to ensure its prosperity in the future.

Wednesday’s ca l l comes after US President Donald Trump hosted Ukrainian President Volodymyr Zelenskyy on Sunday and announced that a settlement is “closer than ever before.” European and Ukrainian officials plan to meet Saturday, lead Ukrainian negotiator Rustem Umerov reaffirmed, adding that US representatives were expected to join remotely.

Zelenskyy also is due to hold talks next week with European leaders supporting his efforts to secure acceptable terms.

IN this photo provided by the Ukrainian Emergency Service, emergency services personnel work to extinguish a fire following a Russian attack in Odesa, Ukraine, Wednesday, Dec. 31, 2025. UKRAINIAN EMERGENCY SERVICE VIA AP

Putin is convinced of victory DESPITE progress in peace negotiations, which he didn’t mention, Putin reaffirmed his belief in Russia’s eventual success in its invasion during his traditional New Year’s address.

He gave special praise to Russian troops deployed in Ukraine, describing them as heroes “fighting for your native land, truth and justice.”

“We believe in you and our victory,” Putin said, as cited by Russian state news agency Tass.

The Russian Defense Ministry said 86 Ukrainian drones were shot down overnight over Russian regions, the Black Sea and the illegally annexed

Crimea peninsula.

Russia claims Putin’s residence was attacked RUSSIA’S Defense Ministry released a video of a downed drone that it said was one of 91 Ukrainian drones involved in an alleged attack this week on a Putin residence in northwestern Russia, a claim Kyiv has denied as a “lie.”

The nighttime video showed a man in camouflage, a helmet and a Kevlar vest standing near a damaged drone lying in snow. The man, his face covered, talks about the drone. Neither the man nor the Defense Ministry

provided any location or date.

The video and claims could not be independently verified.

Kyiv has denied the allegations of an attack on Putin’s lakeside country residence and called them a ruse to derail progress in peace negotiations.

Ukraine’s Center for Countering Disinformation said Wednesday the images could not be considered evidence of the attack as the origin of the damaged drone, as well as the time and location of the video itself, remained unknown.

“It took Russia more than two days to fabricate this ‘evidence’. The photographs of metal fragments laid out on the snow, published by the Russian Defense Ministry, do not prove anything in themselves,” the center said in a statement on its website.

“There is no video of air defense operations in the area of the residence, no recorded drone crashes in the claimed locations and no consistency even in its own figures, which have changed repeatedly.”

Maj. Gen. Alexander Romanenkov of the Russian air force claimed that the drones took off from Ukraine’s Sumy and Chernihiv regions. At a briefing where no questions were allowed, he presented a map showing the drone flight routes before they allegedly were downed by Russian air defenses over the Bryansk, Tver, Smolensk and Novgorod regions.

The European Union’s foreign policy chief, Kaja Kallas, called the

Russian allegations “a deliberate distraction” from peace talks.

Ukraine weapons fund receives billions of dollars ZELENSKYY said Romania and Croatia are the latest countries to join a fund that buys weapons for Ukraine from the United States.

The financial arrangement, known as the Prioritized Ukraine Requirements List, or PURL, pools contributions from NATO members, except the United States, to purchase US weapons, munitions and equipment.

Since it was established in August, 24 countries are now contributing to the fund, according to Zelenskyy. The fund has received $4.3 billion, with almost $1.5 billion coming in December, he said on social media.

Meanwhile, Ukraine’s Security Service carried out a drone strike on a major Russian fuel storage facility in the northwestern Yaroslavl region early Tuesday, according to a Ukrainian security official who was not authorized to speak publicly.

Long-range drones struck the Temp oil depot in the city of Rybinsk, part of Russia’s state fuel reserve system, the official told The Associated Press. Rybinsk is about 800 kilometers (500 miles) from the Ukrainian border.

Katie Marie Davies in Leicester, England, and Matthew Lee in Washington contributed to this story.

Saudi Arabia bombs Yemen port city over weapons shipment from UAE for separatists

By Jon Gambrell The Associated Press

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UBAI, United Arab Emirates— Saudi Arabia bombed Yemen’s port city of Mukalla on Tuesday after a weapons shipment from the United Arab Emirates arrived for separatist forces in the war-torn country, and warned that it viewed Emirati actions as “extremely dangerous.”

The bombing followed tensions over the advance of Emirates-backed separatist forces known as the Southern Transitional Council. The council and its allies issued a statement supporting the UAE’s presence, even as others allied with Saudi Arabia demanded that Emirati forces withdraw from Yemen in 24 hours’ time.

The UAE called for “restraint and wisdom” and disputed Riyadh’s allegations. But shortly after that, it said it would withdraw its remaining troops in Yemen. It remained unclear whether the separatists it backs will give up the territory they recently took.

The confrontation threatened to open a new front in Yemen’s decadelong war, with forces allied against the Iranian-backed Houthi rebels possibly turning their sights on each other in the Arab world’s poorest nation.

It also further strained ties between Saudi Arabia and the UAE, neighbors on the Arabian Peninsula that increasingly have competed over economic issues and regional politics, particularly in the Red Sea area.

Tuesday’s airstrikes and ultimatum appeared to be their most serious confrontation in decades.

“I expect a calibrated escalation from both sides. The UAE-backed Southern Transitional Council is likely to respond by consolidating control,” said Mohammed al-Basha, a Yemen expert and founder of the Basha Report, a risk advisory firm.

“At the same time, the flow of weapons from the UAE to the STC is set to be curtailed following the port attack, particularly as Saudi Arabia controls the airspace.”

Airstrike hits Mukalla A MILITARY statement carried by

the state-run Saudi Press Agency announced the strikes on Mukalla, which it said came after ships arrived there from Fujairah in the UAE. “ The ships’ crew had disabled tracking devices aboard the vessels, and unloaded a large amount of weapons and combat vehicles in support of the Southern Transitional Council’s forces,” the statement said.

“Considering that the aforementioned weapons constitute an imminent threat, and an escalation that threatens peace and stability, the Coalition Air Force has conducted this morning a limited airstrike that targeted weapons and military vehicles offloaded from the two vessels in Mukalla,” it added.

It wasn’t clear if there were any casualties.

The Emirati Foreign Ministr y hours later denied it shipped weapons but acknowledged it sent the vehicles “for use by the UAE forces operating in Yemen.” It also claimed Saudi Arabia knew about the shipment ahead of time.

The ministry called for “the highest levels of coordination, restraint and wisdom, taking into account the existing security challenges and threats.”

The Emirati Defense Ministry later said it would withdraw its remaining troops from Yemen over “recent developments and their potential repercussions on the safety and effectiveness of counter-terrorism operations.” It gave no timeline for the withdrawal.

The UAE broadly withdrew its forces from Yemen years earlier.

Yemen’s anti-Houthi forces not aligned with the separatists declared a state of emergency Tuesday and ended their cooperation with the UAE. They issued a 72-hour ban on border crossings in territory they hold, as well as entries to airports and seaports, except those allowed by Saudi Arabia.

It remained unclear whether that coalition, governed under the umbrella of Yemen’s Presidential Leadership Council, would remain intact.

The Southern Transitional Council’s AIC satellite news channel aired footage of the strike’s aftermath but avoided showing damage to the ar-

mored vehicles. “ T h i s u nju st i f ie d e sc a l at ion against ports and civilian infrastructure will only strengthen popular demands for decisive action and the declaration of a South Arabian state,” the channel said.

The attack likely targeted a ship identified as the Greenland, a vessel flagged out of St. Kitts. Tracking data analyzed by the AP showed the vessel had been in Fujairah on Dec. 22 and arrived in Mukalla on Sunday. The second vessel could not be immediately identified.

Jens Laerke, a spokesperson for the U.N. humanitarian office, urged combatants to protect civilians and civilian infrastructure, like the port, saying any disruption to its operations “risks affecting the already dire humanitarian situation and humanitarian supply chains.”

Strike comes as separatists advance MUKALLA is in Yemen’s Hadramout governorate, which the council seized in recent days. The port city is some 480 kilometers (300 miles) northeast of Aden, which has been the seat of power for anti-Houthi forces after the rebels seized the capital, Sanaa, in 2014.

Yemen, on the southern edge of the Arabian Peninsula off East Africa, borders the Red Sea and the Gulf of Aden.

The war there has killed more than 150,000 people, including fighters and civilians, and created one of the world’s worst humanitarian disasters.

The Houthis, meanwhile, have launched attacks on hundreds of ships in the Red Sea corridor over the IsraelHamas war in the Gaza Strip, disrupting regional shipping. The US, which earlier praised Saudi-Emirati efforts to end the crisis over the separatists, has launched airstrikes against the rebels under both Presidents Joe Biden and Donald Trump.

US Secretary of State Marco Rubio called his Emirati and Saudi counterparts over the crisis.

Associated Press writer Jamey Keaten in Geneva contributed to this report.

THE RT network established the Khaled Alkhateb International Memorial Awards in memory of 25-year-old journalist Khaled Alkhateb, who collaborated with RT Arabic. He was killed in a rocket attack by militants in Syria’s Homs province in 2017 while covering clashes between government forces and terrorist groups.

RT announces winners of 2025 Khaled Alkhateb International Memorial Awards

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OSCOW—RT has announced the winners of the 2025 Khaled Alkhateb International Memorial Awards. This year, the jury honored three works by war correspondents covering one of the most high-risk operations carried out

by Russian forces during the Special Military Operation, the humanitarian catastrophe in the Gaza Strip, and attacks targeting journalists in Palestine.

“By establishing an award in honor of our colleague Khaled Alkhateb, who was killed while carrying out his journalistic duty in Syria, and by holding it for the eighth consecutive year, our channel seeks to support the difficult and sometimes life-threatening work of war correspondents,” said Maya Manna, head of RT Arabic. “Today, whether during the Special Military Operation or in other conflicts, they are working on the information front—the front of truth.”

Nearly 100 submissions were received this year from correspondents and film crews representing Russian and Arab media outlets, as well as independent journalists working in conflict zones. Their reporting covered the Special Military Operation and armed conflicts in the Middle

East, including Palestine, southern Lebanon, Yemen, and Syria.

WINNERS: 1. Amir Yusupov from Channel One (Russia) for exclusive footage of Operation Potok in Russia’s Kursk Region. Channel One’s film crew took part in a covert movement by Russian troops through the Urengoy–Pomary–Uzhgorod gas pipeline behind Ukrainian positions.

2. Ahmad Ghanim of Al Mayadeen (Lebanon) with a report from the Gaza Strip. The piece documents the devastating consequences of the blockade of Gaza, including a manmade humanitarian crisis and famine that have become part of everyday life for civilians.

3. Fouad Jarada from the Palestinian Broadcasting Corporation with a report on the fate of journalists in Gaza, where working in the media has become increasingly dangerous amid the fighting. The report focuses on a correspondent and a cameraman who were killed during the conflict and includes footage and photographs capturing the horrors of war, taken by journalists and activists at great personal risk.

In 2025, the jury was chaired by Margarita Simonyan, Editor-in-Chief of RT and the Rossiya Segodnya media group, and included RT Arabic war correspondent Maxim Toury, war reporter and founder of the WarGonzo project Semyon Pegov, and RT senior war correspondent in Gaza Saed Swerki.

The RT network established the Khaled Alkhateb International Memorial Awards in memory of 25-yearold journalist Khaled Alkhateb, who collaborated with RT Arabic. He was killed in a rocket attack by militants in Syria’s Homs province in 2017 while covering clashes between government forces and terrorist groups.

In 2018, Russian President Vladimir Putin signed a decree posthumously awarding him the Medal for Courage, which was presented to his family at the inaugural awards ceremony.

Over the years, hundreds of war correspondents covering armed conflicts around the world—including in Syria, Gaza, and the Special Military Operation—have taken part in the competition. More than 20 journalists from Russia, Iraq, Ireland, Singapore, the US, Italy, Syria, Yemen, Palestine, Lebanon, India, and Argentina have received the award.

Friday, January 2, 2026

A9

OSAP slams ‘baseless’ links to ₧8-B DPWH budget anomaly

By Samuel P. Medenilla

T

@sam_medenilla

HE Office of the Special Assistant to the President (OSAP) slammed attempts online to link it to the “Leviste List” or “Cabral files” on alleged public works budget anomalies, which it called baseless and misleading.

DOH alarmed as holiday stroke, heart attack cases climb to 288

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HE Department of Health (DOH) has expressed worries after cases of stroke, heart attack, and asthma reached 288 from December 21 to December 31, 2025, higher by five percent as compared to the same period in 2024.

The DOH said that the recorded cases of stroke, heart attack, and asthma in 2024 was 274.

Of the recent cases recorded, acute stroke or brain attack is the number one cause of death, the DOH said.

Earlier, the DOH said that they are closely monitoring the acute complications brought about by the noncommunicable diseases (NCDs), noting that a rise in cases

are observed during the holidays.

DOH Assistant Secretary and spokesperson A lber t Domingo said that NCDs like stroke, acute coronary syndrome, and bronchial asthma, due to overeating, excessive alcohol intake, and stress, increases during this holiday season.

The World Health Organization (WHO) says NCDs, also known as chronic diseases, are “the result of a combination of genetic, physiological, environmental and behavioral factors.”

The main types of NCDs are cardiovascular diseases such as heart attacks and stroke, cancers, chronic respiratory diseases, and diabetes. Claudeth Mocon-Ciriaco

PRC responds to 53 fire incidents in December 2025, volunteers work around clock to keep Filipinos safe

A

S the holiday season draws near, homes and communities across the Philippines are alive with festivities.

From holiday cooking and festive lighting to candles, gas stoves, and traditional fireworks, December is a peak month for fire incidents, a period when vigilance can literally mean the difference between life and death.

In December alone, the Philippine Red Cross (PRC) responded to 53 fire incidents nationwide, demonstrating commitment to saving lives. To date, our team has deployed 20 fire trucks and 61 ambulances nationwide to provide immediate rescue and medical attention to families affected by fires.

“There are no holidays for our staff and volunteers,” says PRC Chairman Richard J. Gordon.

“Our teams remain on constant alert, ready to respond the moment emergencies happen. The

dedication of our volunteers and personnel ensures that help arrives when it is needed most, holiday or not.”

PRC ’s response operations cover not only urban centers like Metro Manila but also other provinces where communities are at risk. Each deployment involves coordinated action between our trained firefighters, emergency medical teams, and relief personnel, ensuring that families receive assistance immediately, and that casualties and damage are minimized.

Chairman Gordon also emphasizes the need for public awareness and preparedness: “W hile PRC will continue to respond tirelessly, we urge ever y Filipino to exercise caution during this peak fire season. Monitor cooking, candles, electrical d e cor at ion s , a nd f i re wor k s .

Simple preventive actions save lives and protect homes.”

OPAPRU to do more for peace process this 2026

By Rex Anthony Naval

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HE Office of the Presidential Adviser on Peace, Reconciliation, and Unity (OPAPRU) on Thursday joins the Filipino nation in welcoming the dawn of a new year even as it has committed to do more for the peace process this 2026.

“As we step into 2026, the OPAPRU, together with the rest of the Marcos Jr. administration and our staunch peace partners, stand with renewed strength, commitment and determination to push forward the comprehensive Philippine peace process to greater heights,” OPAPRU Secretary Carlito Galvez Jr. said in a statement.

Aside from this, Galvez said the agency is extending its deep-

est gratitude to all peace stakeholders who have supported all their peacebuilding interventions last year. “ T he peace div idends that we are now reaping today have been made possible through our collective efforts. It is our hope that this year will once again be filled with milestones as we continue to sustain and build on the gains of peace across our countr y,” he added.

Galvez also hopes that 2026 will be the year that is filled with peace, love and hope.

“Let us carry the lessons of 2025 and look ahead to the future with renewed optimism, passion and purpose. Once again, we wish everyone a happy and blessed New Year!” he added.

Special Assistant to the President Antonio F. Lagdameo Jr. clarified his office has no role in the budget allocation of the Department of Public Works and Highways (DPWH) and implementing infrastructure projects.

“He [Lagdameo] stressed that the Office is not an implementing agency and does not possess the technical mandate to plan, select, or prioritize infrastructure projects under the DPWH,” the OSAP said in a statement.

Lagdameo issued the statement after Batangas 1st District Rep. Leandro Leviste posted in his social

media account, where he raised the question on who the proponent of the P8-billion budget for 75 DPWH projects, which were tagged to the “OP [ES/SAP],” in the documents allegedly sent to him by the office of the Public Works Undersecretary Maria Catalina Cabral.

The lawmaker noted that the acronym OP may stand for the Office of the President, while ES may refer to the Executive Secretary and SAP to the Special Assistant to the President.

The OSAP, however, said such posts are “unfounded and misleading.”

Nevertheless, it said it is ready to cooperate with government offices, which will investigate the so-called “Leviste List.”

“Lagdameo reiterated that the OSAP remains committed to transparency and accountability and fully supports agencies and officials conducting legitimate investigations in accordance with the law and in service of the public interest,” the OSAP said.

It also said Lagdameo will not be distracted by the said allegation against him and will continue to perform his task in the Cabinet.

Firework injuries plummet 42% over holidays, DOH reports 235 cases so far

By Claudeth Mocon-Ciriaco @claudethmc3

A

TOTAL number of 235 firework-related injuries (FWRIs) were recorded from December 21, 2025 to January 1, 2026, according to the Department of Health (DOH).

The DOH said that the reported cases is 42 percent lower as compared to the same period in 2025, recording 403 FWRIs.

From midnight of January 1 until 4 a.m., the DOH said that 62 cases were logged.

The DOH said that the cases will still rise, noting that the agency’s surveillance will end on. Jan. 5.

DOH Assistant Secretary and spokesperson Albert Domingo reminded that “even as we see today a lower than last year's count for fireworks related injuries, DOH anticipates that late reports will come in from today Jan. 1 all the

way to Jan 5. We hope the lower count will stay.”

In the meantime, Domingo reminded that all who had encounters with fireworks, no matter how small the wound, should seek consultation at the nearest hospital to avoid tetanus.

“Symptoms do not appear until around 8 days, some up to 21 days later, and they can be deadly. Vaccination against tetanus is available at hospitals,” he said.

Group calls on Black Nazarene devotees to make ‘Traslacion’ 2026 garbage-free

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LOCAL waste and pollution watchdog on Thursday called on the Roman Catholic Church and devotees of the Black Nazarene to make this year’s Traslacion trash-free.

The EcoWaste Coalition issued the call ahead of the preparations for the January 9 Feast of the Black Nazarene. Incidentally, January is also observed as the Zero Waste Month.

The group stressed that it is the responsibility of every person to care for Mother Earth as stewards of God’s creation.

The group expressed its hope that devotees from all walks of life will heed its call for waste prevention and reduction in the mammoth and fervent procession reenacting the Traslacion or the transfer of the image of the Black Nazarene from Intramuros to Quiapo, emphasizing “kalakip ng debosyon ang malinis na Traslacion.”

The Manila Department of Public Services (DPS) earlier reported that 468 and 382 metric tons of garbage were collected during the Traslacion activities from January 6 to 10, 2024, and January 8 to 10, 2025, respectively.

Year after year, the Traslacion consistently leaves a massive trail of garbage along the six-kilometer processional route, sullying the city and keeping the uncomplaining waste and sanitation workers from the DPS, Metro Manila Development Authority (MMDA), Department of Public Works and Highways (DPWH) busy and exhausted, the EcoWaste Coalition observed.

The group’s Basura Patrollers cited perennial littering at the processional route from Luneta to Quiapo with items such as plastic bottles (empty and sometimes with urine), food containers and packaging, bamboo sticks,

food waste, cigarette filters, and disposable vapes carelessly abandoned on streets, sidewalks, and parks for the government and volunteer sweepers to pick up.

“Let our people’s profound faith in Nuestro Padre Jesus Nazareno inspire us to be better stewards of our planet, preventing and reducing waste and not littering, a punishable environmental offense, at all times but most especially during the Traslacion, a faith-centered feast,” said Ochie Tolentino, Zero Waste Campaigner, EcoWaste Coalition.

“The reckless disposal of single-use plastic bottles, food containers, bamboo skewers, leftovers, butts, and vapes degrades our shared environment, contaminating land, air, and water, blocking drains leading to flashfloods, creating breeding grounds for flies, mosquitoes, and rodents, and causing health problems,” she said.

“The unrestrained generation of garbage and its mixed disposal in landfills releases greenhouse gases, contributing to climate change that adversely impacts everyone, impoverished and marginalized communities,” she added.

To encourage waste prevention and reduction and discourage unrestrained littering, the EcoWaste Coalition called on the authorities to dispatch environmental police who will remind devotees about proper waste disposal as required by Republic Act 9003, or the Ecological Solid Waste Management Act. The said law prohibits “the littering, throwing and dumping of waste matters in roads, sidewalks, canals, esteros, parks and other public places,” and penalizes violators with a fine from P300 to P1,000, community service at the local government unit where the offense was

committed, or to pay the fine as well as perform community service.

To prevent and reduce waste, the EcoWaste Coalition urged the devotees to heed the following reminders:

1

Abide by the “no littering, no smoking, no vaping” policy of Rizal Park, venue of the traditional “Pahalik” and related liturgical activities.

Do not throw any litter in compliance with the Ecological Solid Waste Management Act (RA 9003), Environment Code for the City of Manila (Ordinance No. 8371), and MMDA Regulation No. 96-009.

Refrain from consuming products in single-use disposable plastic.

Dispose of your discards properly, return them to where you got them, or bring them home for proper recycling or disposal.

Desist from spitting and urinating in public, and please do not pass water in plastic bottles.

2 3 4 5

The group further urged benevolent devotees to avoid offering water in singleuse plastic bags, bottles, or cups, as well as to desist from giving meals in polystyrene or Styrofoam containers. Go for reusable containers instead.

The EcoWaste Coalition also urged the barangays around the Minor Basilica and National Shrine of Jesus Nazareno not to use plastic “labo” as fiesta banderitas to cut on plastic use and garbage.

“We thank and support the Quiapo Church, the Manila City Government, the Hijos del Nazareno, the Green Brigade, and other agencies and groups for taking all the necessary steps to promote a meaningful, safe, and litter-free observance of Traslacion 2026,” the EcoWaste Coalition said. Jonathan L. Mayuga

Palace Press Officer Claire Castro said they will let the Ombudsman verify the said list before Malacañang can consider it credible, especially since many different versions of the list are now being released to the public.

“Some have written annotations, some have the names of Cabinet Secretaries and other versions have no such content,” she told Palace reporters in a statement.

“Stories that are not supported by solid evidence will remain just speculation. Let’s wait for the Office of the Ombudsman to speak on that,” she added.

SENTRO pushes PBBM to prioritize anti-dynasty law, infra corruption body

By Ada Pelonia @adapelonia

L

ABOR group Sentro ng mga Nagkakaisa at Progresibong Manggagawa (SENTRO) urged President Ferdinand Marcos Jr. to certify a bill seeking to prohibit political dynasties and a commission against infrastructure corruption as a priority.

“A clear majority of Filipinos are already calling for the immediate passage of an anti-political dynasty law and a fully empowered commission against infrastructure corruption,” SENTRO said in a statement.

“Congress has bills on the table. Public support is on record. Corruption scandals are on a loop. So we ask—what exactly is keeping you from certifying these measures as priority bills?”

The group added: “Is it a scheduling conflict? Too many parties? Or is urgency only reserved for measures that don’t threaten entrenched power?”

Sentro noted that workers and citizens are “tired of waiting while corruption enjoys VIP treatment.”

“If this administration is serious about accountability, now would be a good time to act like it,” the group said.

‘Accountable political system’

IN December, Speaker Faustino Dy III and Majority Leader Ferdinand Alexander A. Marcos formally filed a long-awaited measure seeking to prohibit political dynasties, marking a major step toward fulfilling a decades-old mandate of the 1987 Constitution. (See: https://businessmirror.com.ph/2025/12/11/ speaker-marcos-son-file-antidynasty-bill/) Filed on Wednesday, House Bill 6771 lays down a comprehensive legal definition and prohibition of political dynasties – an enabling law that has remained missing for nearly four decades.

In the bill’s explanatory note, the authors underscore that the core of democratic governance is political equality, stressing that every Filipino must have “an equal opportunity to participate in and influence political decision-making.”

They cite Article II, Section 26 of the Constitution, which explicitly mandates the State to “guarantee equal access to opportunities for public service and prohibit political dynasties as may be defined by law.”

Yet, the lawmakers point out that despite this clear directive, dynastic politics continue to dominate national and local elective posts due to the absence of an enabling statute.

Under the measure, spouses, siblings, and relatives within the fourth civil degree of consanguinity or affinity of any elected public official will be barred from simultaneously holding specified elective positions.

The bill also prevents immediate succession to the same office, a mechanism designed to stop the widespread practice of rotating seats within political clans.

Should the measure pass, Congress would finally fulfill its constitutional duty to prohibit political dynasties and, according to its authors, take a “crucial step toward building a more inclusive and accountable political system for all Filipinos.”

A10 Friday, January 2, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

PHL can’t settle for ‘above middle’ in AI

T

HE Department of Science and Technology’s recent assessment of the Philippines’ AI standing—“above the middle” globally—provides a sense of optimism. However, it should be viewed less as a victory and more as an urgent signal for accelerated action. Secretary Renato Solidum Jr.’s frank assessment of infrastructure and workforce deficiencies highlights a critical point: while the country is poised for technological growth, it must act with speed and resolve to remain competitive in the global AI landscape. (Read the BusinessMirror story—“DOST: PHL AI devt above median, skills still lag,” December 30, 2025).

Undeniably, there is progress to applaud. The planned National Artificial Intelligence Research and Innovation Center promises a vital hub for collaboration.

Allocating P9.9 billion for AI initiatives across crucial sectors like healthcare, agriculture, and disaster resilience demonstrates commitment. Active projects since 2017 and over 100 supported research/upskilling initiatives show a foundation is being laid. The impressive projected market growth—from $772 million in 2024 to nearly $3.5 billion by 2030—and the climb in the Government AI Readiness Index are positive indicators of potential. Homegrown innovations like the Pasig River electric ferry prove Filipinos can engineer smart, impactful solutions.

The UNESCO Philippines AI Readiness Report highlights several significant challenges that could impede progress in AI development. Firstly, the lack of adequate infrastructure poses a major hurdle. The need for “expanding compute power” is not just a wish; it is essential for both the development and deployment of AI technologies. Without strong and accessible computing capabilities, coupled with the timely establishment of dedicated data centers, research will be hindered, application rollouts will fall behind, and digital sovereignty will remain at risk.

Secondly, there is a pressing need to address the workforce gap. While upskilling initiatives from Tesda, CHED, and DepEd are important, the scale and speed of these programs must align with the growing demand for AI expertise. There is an urgent necessity to cultivate deep AI knowledge among engineers and professionals since the current rate of workforce development may not produce the critical mass of talent required to drive and sustain an AI-driven economy.

Lastly, the report points out that governance issues present systemic obstacles.

Fragmented policymaking, regulatory voids, bureaucratic delays, and inconsistent collaboration between public and private sectors are serious challenges. As AI evolves at an astonishing pace, it is crucial for governance structures to be flexible, coherent, and proactive in order to encourage innovation while effectively managing associated risks. Bureaucracy must not hinder technological advancement.

The planned significant budget increases, rising from P28.46 billion in 2025 to P30.4 billion in 2026, are certainly welcome; however, funding alone is not sufficient. The critical success factors for achieving objectives include effective execution, coordination, and speed.

The DOST’s collaboration with the private sector in infrastructure projects must yield tangible and timely results. Furthermore, upskilling programs require aggressive scaling, the development of industry-aligned curricula, and seamless pathways that connect education to employment.

Policymakers must also move beyond fragmented approaches, establishing a cohesive national AI strategy that is supported by streamlined regulations and efficient processes. It is essential that public-private partnerships evolve from being ad-hoc to becoming institutionalized frameworks.

The “above middle” status is a starting point, not an achievement. The global AI landscape is fiercely competitive; nations are investing trillions. The Philippines possesses undeniable potential—a large, young, tech-savvy population, growing market, and demonstrated innovative spirit. The electric ferry is a symbol of what’s possible when ingenuity meets opportunity.

The government, industry, and academia should view this “above middle” assessment not as a reason to be complacent, but as a call for urgent and collaborative action. We must tackle the infrastructure deficit with unwavering determination. Shift workforce development from a trickle into a powerful surge. Break the governance gridlock.

The billions being invested demand a return measured not just in pesos, but in tangible AI solutions that improve lives, boost the economy, and secure the Philippines’ place as a genuine contender, not just a middling participant, in the AI-driven future.

Since 2005

Musical tributes to Gregoria de Jesus, Emilio Jacinto, and Apolinario Mabini Dennis Gorecho

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OLITICAL expressions always had their place in music as artists often use their creative talents to send messages on social issues.

Tanghalang Pilipino paid tribute in 2025 with a trilogy of musicals honoring three revolutionary heroes: “Pingkian” for Emilio Jacinto, “Gregoria Lakambini” for Gregoria de Jesus, and “Mabining Mandirigma” for Apolinario Mabini.

“Gregoria Lakambini” is a Pinay Pop musical tribute to Gregoria de Jesus, also known as “Oriang,” and her role as a leader and “Lakambini” (woman leader) of the Katipunan. I saw the musical a week after watching the film “Lakambini: Gregoria de Jesus” at the University of the Philippines Film Center.

Dr. Geoffrey Ducanes

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ed the next day in the mountains of Maragondon, Cavite. Oriang searched for his body for 30 days, even calling spirits to help her find her husband.

There was a lack of closure as Bonifacio’s body had never been found, which contributed to Oriang’s enduring sorrow, intense grief, and trauma.

After the death of Bonifacio, Julio Nakpil, one of the revolution’s generals, took care of the widowed De Jesús. The two fell in love and were married on December 10, 1898. She had one son from Bonifacio and five children from Nakpil.

“Pingkian” is a full-length stage musical about the life of Jacinto during the tail end of the Philippine

Affordability concerns in the New Year

BusinessMirror A broader look at today’s business Publisher

Oriang’s quest for justice mirrors the musical’s journey to reclaim the legacy of a forgotten heroine.

Andres Bonifacio was 29, and Oriang was 18, when they met in 1892, during the early years of the Katipunan, and fell in love. The Revolution exploded on August 21, 1896.

Bonifacio and his brother Procopio were later arrested after charges of sedition, treason, and conspiracy were laid against them for allegedly organizing against the revolutionary government led by Emilio Aguinaldo.

On May 9, 1897, Bonifacio was sentenced to death and was execut-

Tanghalang Pilipino paid tribute in 2025 with a trilogy of musicals honoring three revolutionary heroes: “Pingkian” for Emilio Jacinto, “Gregoria Lakambini” for Gregoria de Jesus, and “Mabining Mandirigma” for Apolinario Mabini.

‘A

FFORDABILITY” is one of the words of the moment in US politics, with Democrats and Republicans talking constantly about the issue that is widely viewed to have influenced the outcomes of a handful of recent local elections in the US (won mainly by Democrats) and could be the major issue determining the US midterm elections this year.

According to many analysts, Trump’s victory in the 2024 elections was strongly fueled by voter anger about inflation and the cost of living, but this time the same issue has become a liability for him even among his own voters.

Affordability has to do with the cost of living or the amount of money needed to maintain a certain standard of living in a specific place.

This has to do with the cost of food, housing, electricity, transport, and healthcare.

Obviously, the cost of living is intimately linked with inflation. When inflation is high, that means the cost of living is rising rapidly. But even when inflation has decelerated to low levels, a share of the population, the poor particularly, could still feel that the cost of living is too high for them.

Filipinos have long ranked infla-

tion and the rising cost of living as a top concern. In a survey conducted before President Ferdinand Marcos Jr.’s State of the Nation Address in July last year, Pulse Asia found that about three of five Filipinos view the steady rise in the cost of living as their most urgent concern.

In an earlier survey last year, conducted at a time when rice prices were rapidly increasing, the Social Weather Stations found that roughly the same number of Filipinos thought the administration was not doing enough to curb inflation.

For the first 11 months of last year, overall inflation averaged 1.7 percent, which was below the government target of 2 percent to 4 percent annual inflation from 2025 to 2028. This was driven mainly by low inflation for food and non-alcoholic beverages (1.2 percent inflation and a

Filipinos have long ranked inflation and the rising cost of living as a top concern. In a survey conducted before President Ferdinand Marcos Jr.’s State of the Nation Address in July last year, Pulse Asia found that about three of five Filipinos view the steady rise in the cost of living as their most urgent concern.

weight of 39 percent in the consumer price index (CPI) basket), which was in turn driven by declining rice prices for most of last year.

It should be noted, however, that even excluding the food and non-alcoholic beverages component, or alternatively if food and non-alcoholic beverages prices rose as much as the non-food component, Philippine inflation last year would still be within the government target.

Still, it is true that inflation last year benefited from high rice prices in 2024. We compute inflation as year-on-year change, meaning November 2025 inflation is the growth rate in CPI from November 2024 to November 2025. And because rice prices were very high in 2024, mainly because world prices were high, and then declined rapidly from those levels in 2025, again because world prices declined rapidly, that meant that rice inflation was negative for most of 2025. This pulled down 2025 overall inflation.

revolution up to the start of the Philippine-American war that showed his unyielding spirit on how he fought for freedom at a young age.

Jacinto studied law at the University of Santo Tomas where Manuel Quezon, Sergio Osmeña and Juan Sumulong were his classmates.

He was 19 years old when he joined the Katipunan and served as its Chief Justice. When Andres Bonifacio proclaimed himself the supreme president of the Sovereign Tagalog Nation, Jacinto was elected Secretary of State.

Known as the “Utak ng Katipunan,” Jacinto is an eloquent and brave writer who used two pen names/alias: “Dimasilaw” for the Katipunan newspaper called Kalayaan, and “Pingkian” in the Katipunan as the author of the Kartilya ng Katipunan, the official handbook of the movement that laid out the rules and principles of liberty, equality and fraternity.

“Pingkian” means a flint that sparks when rubbed against each other to create friction. In his prolific writings, he ignited the hearts of See “Gorecho,” A11

This is what is termed as the base effect, as rice inflation in 2025 benefited from a high base (and high inflation) in 2024. But rice prices have been much more stable at low levels for most of 2025. This means that the overall inflation figure will not be benefiting as much from the base effect in 2026. We should expect higher inflation in 2026 than in 2025, especially if rice prices exhibit volatility again.

Outside of possibly the unemployment rate, the cost of living and the inflation rate are the macroeconomic indicators most tangible to people.

These are things they confront frequently—when they go to the market or the grocery store, when they get their utility bills, when they take transportation, and when they order online.

And rising prices is something people will be much more sensitive to in the face of slowing economic growth and stagnant employment.

Since the pandemic the unemployment rate in the country has generally been declining, from 10.4 percent in 2020 to 4.7 percent in 2025, but there was a slight increase from 4.4 percent in 2024 to the 2025 figure. The trend in underemployment has roughly been similar, falling from 17.6 percent in 2021 to 13.3 percent in 2024, but increasing slightly to 13.7 percent in 2025.

And of course, as has been widely reported recently, GDP growth at See “Eagle Watch,” A11

www.news.businessmirror@gmail.com

Opinion BusinessMirror

Friday, January 2, 2026 A11

How the US economy fared under Trump in 2025 These stocks are the Data out last week showed the market’s biggest winners economy expanded in the third quarter at the fastest pace in two years, thanks to resilient consumand losers in 2025 Trade wars P ers and business investment.

By Matthew Boesler & Ben Holland

the best is yet to come as President Trump’s policies continue taking effect.”

RESIDENT Donald Trump rode a wave of voter frustration about the economy to a second term in the White House, promising lower prices and a “golden age” for the nation.

By Carmen Reinicke

T

HE S&P 500 Index is poised to end 2025 up more than 17% as the bull market continues for a third year driven by enthusiasm for artificial intelligence.

The AI trade broadened out this year, as chip stocks again led the S&P 500 but were joined by the shares of companies tied to building the data centers that will power the technology. Three of the index’s top 10 performers in 2025 were data storage companies, which are among the main beneficiaries of the hundreds of billions of dollars in pledged spending by the giant AI cloud service providers known as hyperscalers.

On the flip side, economic uncertainty from President Donald Trump’s sweeping tariffs weighed on the shares of consumer companies, while health-care stocks struggled with uncertainty surrounding the administration’s policies and pressure on drug prices.

Here are some of the biggest winners and losers in the US stock market this year.

Winner: New AI leadership

TECHNOLOGY stocks, especially those tied to AI, again dominated the market. But leadership shifted to the shares of companies associated with data—from storage to the building, heating and cooling of data centers.

Hyperscalers like Microsoft Corp., Amazon.com Inc., Alphabet Inc. and Meta Platforms Inc. have pledged to spend more than $440 billion over the next 12 months to build out AI capabilities, benefiting firms such as Sandisk Corp., Western Digital Corp. and Seagate Technology Holdings Plc, which were three of the four best performing stocks in the S&P 500.

Winner: New S&P 500 additions

A SLEW of companies were added to the S&P 500 in 2025, including Robinhood Markets Inc., Sandisk, AppLovin Corp. and Carvana Co., all of which posted triple-digit percentage gains and landed among the top 20 performers in the index.

Of course, not every stock that joined the S&P 500 got a boost. Trade Desk Inc. shares were the worst performers in the index with a nearly 70 percent loss, while Block Inc. tumbled more than 20 percent and Coinbase Global Inc. sank more than 6 percent.

Winner: Palantir

PALANTIR Technologies Inc. shares are set to notch a triple-digit gain for the third year in a row. The software developer got a boost from AI enthusiasm and strong buy-in from retail traders who are drawn to the company’s outspoken Chief Executive Officer Alex Karp.

But the stock is now rather pricey.

With a multiple of more than 180 times forward earnings, it’s the third most expensive member of the S&P 500 behind Tesla Inc. and Warner Bros. Discovery Inc.

Winner: Warner Bros. Discovery

WARNER Bros. Discovery soared almost 175 percent in 2025 on the strength of takeover speculation.

The company formally put itself up for sale in October, and there’s an ongoing battle between the top two bidders, Paramount Skydance Corp. and Netflix Inc., with both suitors

Eagle Watch. . . continued from A10

4 percent was relatively anemic in the third quarter of 2025. The expectation is that it will remain relatively anemic in the fourth quarter, dragging full year growth below the beginning target of 5.5 percent to 6.5 percent.

The Asian Development Bank and the World Bank project full-year 2025 Philippine GDP growth to be somewhere in the 5 percent to 5.3

Three of the index’s top 10 performers in 2025 were data storage companies, which are among the main beneficiaries of the hundreds of billions of dollars in pledged spending by the giant AI cloud service providers known as hyperscalers. jockeying to strengthen financial backing for their offers. The Warner Bros. board prefers the Netflix bid and is reportedly planning to reject Paramount’s offer, but Larry Ellison, the billionaire chairman of Oracle Corp. and father of Paramount Chief Executive David Ellison, is personally guaranteeing the Paramount proposal.

Loser: Consumer staples

ECONOMIC uncertainty, tariffs and concerns about the health of the US consumer as inflation creeps higher weighed on consumer stocks, especially some major staples names.

Clorox Co., frozen french fries maker Lamb Weston Holdings Inc., Campbell’s Co. and beverage giant Constellation Brands Inc. were among the 20 worst-performers in the S&P 500. Shares of fast-casual dining brand Chipotle Mexican Grill Inc. sank nearly 40% after two years of double-digit gains.

Loser: Retail

THE same economic uncertainty also hit shares of some retail companies.

Deckers Outdoor Corp., which owns brands such as Hoka and Ugg, was down almost 50 percent in 2025, snapping a nine-year streak of gains.

The stock was hit hard by a few weak earnings forecasts and analyst downgrades.

Lululemon Athletica Inc. shares are set to fall nearly 45 percent this year, their second consecutive double-digit annual decline, as the athletic apparel retailer struggles through an overhaul after a period of slow growth and the recent exit of its chief executive officer. Activist investor Elliott Investment Management has built a stake of more than $1 billion in the company.

Loser: Managed care

HEALTH insurance stocks underperformed in 2025 despite hopes that the group would benefit from a shift in policy by the Trump administration. Molina Healthcare Inc. shares were down more than 40 percent, their second straight year of double-digit declines. UnitedHealth Group Inc. and Centene Corp. have both shed more than 30 percent, putting them among the 25 worst performers in the S&P 500.

Still, there are signs of hope for the group as some investors view the beaten-down valuations as attractive, making the stocks possibly due for a rebound. Money manager Michael Burry has said he’s long Molina shares and that he views the company as acquisition target in 2026 if it remains this cheap. With assistance from Matt Turner/Bloomberg

percent range, which is still better than most Asean members apart from Vietnam, but a drop from recent years. We will know the actual figures by the end of this month.

While the prevailing topics in the Philippines may be corruption, accountability, and flood control, affordability is certainly not far behind.

Dr. Geoffrey Ducanes is Associate Professor at the Ateneo de Manila University and the Director of the Ateneo Center for Economic Research and Development.

How is his administration doing so far? Despite some wild ups and downs, the US economy looks set to turn in a solid year of growth for 2025—a trend economists expect to continue in 2026.

Data out last week showed the economy expanded in the third quarter at the fastest pace in two years, thanks to resilient consumers and business investment.

The headline figures, though, obscure some less-rosy details. Job gains have been lackluster and concentrated in just a handful of industries, while high prices remain a concern, prolonging the affordabilityrelated struggles that beset Trump’s predecessor Joe Biden.

Here’s how the US economy fared in 2025.

Labor market

IT’S been a rough year for American jobseekers amid the shakeup caused by tariffs, a pullback in foreign tourism and the rise of artificial intelligence in the workplace. The unemployment rate rose to 4.6 percent in November—up by half a point in 2025—marking the highest level since 2021.

Hiring was tepid overall, and what job growth the US did see was overwhelmingly concentrated in health care and social assistance: Excluding that sector, employment actually declined this year. The manufacturing sector has shed jobs for seven straight months.

Those with jobs saw their wage gains cool. Measures including average hourly earnings and the em-

ployment cost index are rising at the slowest paces since 2021, according to the latest readings. From April through November, at least 13 percent of employed individuals saw no pay increases at all from a year earlier, data from the Federal Reserve Bank of Atlanta show.

Workers with four-year college degrees have been hit hard in the soft hiring environment. Their unemployment rate was 2.9 percent in November, comparatively still lower than many other demographics but a level never before reached absent a recession.

Monthly job-finding rates, meanwhile, suggest young college-educated individuals no longer have the same kind of advantage in finding work over those with only highschool diplomas that they had in the past, according to a Cleveland Fed study.

Unemployment among Black Americans has also surged this year, climbing to 8.3 percent in November from 6.2 percent in January, in part due to more Black workers joining the labor force.

Consumer prices

THE basic story of inflation this year is that it hasn’t budged all that much.

After coming most of the way back down from the peak of the pandemic years, it remains higher than what Americans had gotten used to in the decade before that.

The headline rate based on the consumer price index was 2.7 percent in November, the same as its average for 2025, though it was

The headline figures, though, obscure some less-rosy details.

Job gains have been lackluster and concentrated in just a handful of industries, while high prices remain a concern, prolonging the affordability-related struggles that beset Trump’s predecessor Joe Biden.

likely depressed by data disruptions stemming from the government shutdown. Other gauges, like the one favored by the Fed, give similar readings.

The price surge on his predecessor’s watch helped get Trump elected, most pundits reckon. Now he’s the one on the hook for voter concerns about the high cost of living—which haven’t lost their political salience, judging by November’s off-year ballots.

One plus for the president is that his tariffs haven’t delivered the kind of surge in prices many economists warned about. He can also point to a drop in the cost of gasoline, traditionally a hot-button issue for voters. But there are signs that rising electricity bills, which featured prominently in successful Democratic campaigns last month, could take over that role.

“In the past year, inflation has cooled, economic growth has accelerated, interest rates are lower, and real wages have finally increased,” Kush Desai, a White House spokesman, said in a statement. “Much work remains ahead in the new year, but Americans can rest assured that

Delhi’s worst air in years fuels anger in test for Modi’s party

By Swati Gupta & Shinjini Datta

continued from A10

many people to rise against tyranny and clamor for liberty.

Jacinto sustained serious wounds in an encounter at Majayjay, Laguna in February 1898. He died at age 23 on April 16, 1899 after suffering from intense fever and chills due to malaria.

“Pingkian” follows Jacinto through vivid hallucinations and decisive encounters as he contemplates a hero’s death. As he fights for his life, he was visited by the ghosts of Bonifacio and Rizal—an introspective journey to discover the true meaning and significance of revolution. It serves as an examination of

AS for the third declared goal of Trump’s trade war, the results are mixed so far. Growth in business fixed investment was solid in the first three quarters of 2025, according to the latest data published on December 23.

But that expansion has almost entirely been powered by higher outlays on computer equipment and software. Looking ahead, economists anticipate Trump’s One Big Beautiful Bill Act and continued investment in artificial intelligence to boost capital expenditures in 2026. With assistance from Mark Niquette/Bloomberg

Modi’s Bharatiya Janata Party in its first year governing the capital after nearly two decades. Despite campaign pledges to tackle pollution, its approach so far has drawn criticism from the opposition and sections of the public.

Lawmakers failed to prioritize a discussion on pollution during the recent parliament session which ended about two weeks ago. The government also imposed stricter anti-pollution restrictions later than in previous years, prompting questions over the delay.

“Politicians are not talking about air pollution,” said New Delhi-based environmental lawyer Ritwick Dutta. “The constant silence of the government itself in addressing the issue added to the anger.”

Opposition groups like the Aam Aadmi Party, which governed the capital from 2015 to 2025, have also

problem was compounded after the Supreme Court eased restrictions on firecrackers ahead of Diwali in October—a move backed by the BJPled government—even as air quality was already deteriorating.

The average AQI recorded in December so far was 350.4, the highest level since 2018, according to Bloomberg calculations using official data.

After protests in November, the government imposed stricter anti-pollution controls, including a temporary halt to non-essential construction and advising primary schools to conduct classes online.

The measures, however, have failed to deliver any improvement. The BJP has also turned to controversial steps such as artificial rain, which has made little difference.

“Right now, we are going one step ahead and two steps backward,” said Kalyani Tembhe, deputy program manager at the Center for Science and Environment, a Delhi-based research organization. “The sheer amount of pollution that is getting added in Delhi is so high that we just tend to play catch up with pollution rather than having actually mitigated it.” Bloomberg

the Katipunan’s conscience whether they have truly upheld the ideals outlined in the Kartilya and faithfully served Lady Freedom.

Mabining Mandirigma is a steampunk musical that follows the life of Apolinario Mabini (18641903), who, through his intellect and principles, called on Filipinos to rise above class, region, and self-interest in order to build a nation.

He was legal and constitutional adviser to the Revolutionary Government in 1898 and the first Prime Minister of the Philippines upon the establishment of the First Philippine Republic in 1899.

Two of his works, El Verdadero Decálogo (1898) and Programa Constitucional de la República Filipina (1898), became instrumental

in the drafting of the Malolos Constitution.

Mabini performed all his revolutionary and governmental activities despite having lost the use of both his legs to polio shortly before the Philippine Revolution of 1896.

The title role of Mabini is notably played by a female lead. This nontraditional casting choice has been a signature of the production, with several acclaimed actresses taking on the role across various runs.

All of the performers of “Gregoria Lakambini” are female, including those who portrayed Bonifacio and Nakpil.

The musicals’ catchy pop songs have elements of dance, rap and ballads, heavily influenced by the

distinctive style of Asian and local pop idol groups.

Music serves as a vehicle for social change with its power to emotionally, morally and culturally affect society.

Music impacts lives; it provides entertainment; it serves as a medium to communicate; to vent and to express.

The musicals “Pingkian”, “Gregoria Lakambini” and “Mabining Mandirigma” explore the promise of light, symbolizing freedom and progression, versus the strife of darkness.

I

Gorecho. . .

Business investment

accused the BJP of underreporting pollution numbers, an allegation the ruling party denies.

Delhi Chief Minister Rekha Gupta has blamed the previous administration for failing to do enough to tackle poor air quality. She’s said her government needs at least 27 months to deliver results.

As Modi continues to promote Asia’s third-largest economy as one of the world’s rising powers, the toxic air has dented that image, with tourists and top talent increasingly avoiding the capital. Akums Drugs and Pharmaceuticals Ltd. said this week its finance chief had resigned from his position because of health concerns linked to the city’s pollution.

The pollution crisis has sparked visible public anger this year, with residents staging rare protests against pollution in the capital. During a recent visit by Argentine football star Lionel Messi to New Delhi, sections of the crowd chanted “AQI, AQI” when Delhi’s chief minister took to the stage.

New Delhi’s winter smog is driven by crop burning, firecrackers, vehicular traffic, industry and year-round construction dust. This season, the

NDIA’S capital recorded its worst pollution in nearly a decade this winter, sparking rare public protests and criticism of Prime Minister Narendra Modi’s party over its handling of the air quality emergency.

In November and December, when pollution in New Delhi typically peaks, the air quality index was above 300 on 88 percent of days, according to Bloomberg calculations based on official data. That’s the highest percentage since at least 2017. A reading of 50 is considered acceptable, while levels of 300 or above are deemed hazardous, according to the United States Environmental Protection Agency.

New Delhi has battled air pollution for years, with a combination of crop-burning in neighboring states, traffic congestion and cold weather making the winter smog particularly bad. It regularly ranks among cities with the worst air in the world, creating a serious health hazard for its 30 million residents, especially children.

The worsening air quality this season has been an early test for

TRUMP’S most dramatic economic policy shift has been toward trade protectionism. The president increased tariffs in 2025 to the highest in almost a century, even though the administration reversed some of its earlier hikes, notably on China.

The president says high tariffs will collect money for the government, narrow the trade deficits that the US has been running for decades and spur business investment at home.

In the first area, the import taxes are delivering, adding revenue at a pace of some $30 billion a month by late 2025. In the second, the numbers have swung wildly and the jury’s still out.

Trump’s election spurred one of the biggest import surges on record at the start of the year, as US businesses rushed to bring goods into the country before the new president could tariff them. Since then, the trade deficit has come back down.

Peyups is the moniker of the University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@ sapalovelez.com, or call 09088665786.

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A12 Friday, January 2, 2026

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DMW to hire more lawyers for OFWs with labor dispute T

By Samuel P. Medenilla @sam_medenilla

HE Department of Migrant Worker (DMW) is set to hire additional lawyers this year amid calls from the recruitment industry for an overhaul of its dispute settlement mechanism to give greater accountability to foreign employers of overseas Filipino workers.

“So we will increase cases, lawyers especially where there are high volume cases like Saudi Arabia, UAE [United Arab Emirates] and perhaps Hong Kong,” DMW Secretary Hans J. Cacdac said at his recent year-end press conference.

Based on DMW’s initial 2025 deployment data, the Kingdom of Saudi Arabia is still the top destina-

tion for land-based OFWs as of last October with 339.963, followed by the UAE with 339,834. Hong Kong was in fourth place at 168,567.

Cacdac said they have registered 3,000 cases involving OFWs, which required legal assistance through DMW’s Agarang Kalinga at Saklolo para sa mga OFWs na Nangangailangan (AKSYON) Fund.

Most of the cases are labor-related, although he noted “a fair share” of these are also criminal charges.

He said they plan to increase their current pool of 35 legal retainers and in-house lawyers this year.

“It is not necessarily to double the 35, but to increase the number of lawyers where they are needed such as those where there are high volume cases,” Cacdac said.

DMW said the lawyers have been

instrumental in reducing the number OFWs on death row abroad.

It noted there are currently only 24 OFWs with a death sentence abroad. Of which, 13 in Asia-Pacific and 11 in the Middle East.

Dispute settlement reform

ACCORDING to LBS E-Solutions Corp. President Lito B. Soriano, however, the DMW should do more than just increase the number of lawyers

to streamline and enhance the legal protection of OFWs abroad.

The former recruitment leader is currently pushing for DMW to create its own version of the Single Entry Approach Approach (SENA) program of the Department of Labor and Employment (DOLE), which has been institutionalized

by Republic Act No. 10396.

Under the said SENA policy, issues arising from labor and employment will be subject to mandatory conciliation-mediation so they can be settled without the need for court intervention.

However, he noted there are currently gaps in DMW’s dispute settlement mechanism, which allow foreign employers to have the labor dispute of their land-based OFWs settled by their Philippine recruitment agencies (PRA).

This setup includes foreign employers being able to tap the services of five PRAs, allowing it to easily drop PRAs, with OFWs, who have labor disputes.

“There is no pressure on their part since they can continue to recruit

even if they have a hundred complaints from one [Philippine recruitment] agency because he has another four agencies. So that is the weakness of the policy...If they will file a disciplinary action against a foreign employer, the government will say it is a money matter and it should be between the agency and the foreign employer,” Soriano said in Filipino.

He also explained that they cannot use the documents from the SENA of workers and their foreign employers conducted by the Migrant Workers Offices since they are not sworn to by both parties.

This, Soriano said, would often lead to PRAs settling the case with the concerned OFWs instead of the erring foreign employer.

“So what I am advocating is for DMW to adopt its own SENA program. As much as possible we should increase the settlement of cases on the job site,” he said.

Soriano said he already relayed the proposal to Cacdac, who indicated that he is open to looking into the matter.

US sanctions Chinese companies, oil tankers with Venezuela links

By Kate Sullivan

T

HANGING ON TO HOPE In Quiapo, Manila, vendors sell New Year-themed T‑shirts at bargain prices as families step into 2026, the Year of the Fire Horse—symbolic of strength and spirited

beginnings. According to a Social Weather Stations (SWS) survey, 89 percent of adult Filipinos will enter 2026 with hope rather than fear, the lowest level of optimism in 16 years, while 11 percent will start the year feeling fearful. Amid lingering social and economic challenges—including corruption concerns and persistent flooding—these simple purchases reflect the resilience and cautious optimism of everyday communities. NONIE REYES

China drills around Taiwan worry lawmaker

By Butch Fernandez

S

@butchfBM

EN. Franciso “Kiko” Pangilinan at the New Year bewailed China’s “aggression” in Taiwan, calling it the worst way to start a year when goodwill is supposed to abound.

“It is the season of goodwill, but China’s two-day military drills encircling Taiwan have brought ill will all around—to the Taiwan people, to Filipinos working, living, and spending the holidays there,

and to peoples across East and Southeast Asia.

“Peace on earth cannot be built on threats of invasion, expanding foreign basing, or war games.

Peace on earth can only be built on our individual and collective right to self-determination, free from bullying or annexation by any power—whether Chinese or American,” added the senator.

He was referring to the two days of large-scale military drills conducted by China around Taiwan, which have sparked fears of threats

to regional stability and the welfare of Filipino workers—of whom there are over 160,000, mainly employed in manufacturing and increasingly in caregiving.

Pangilinan continued: “We all share this one planet, and our shared future depends not on missiles nor alliances of convenience, but on our individual and collective cooperation for social justice, climate action, and democratic rights. Let’s all steer the Fire Horse of 2026 into progress, not ruin.”

Pangilinan’s concern was shared

by the Department of National Defense. Secretary Gilbert Teodoro said in a separate statement on January 1 that the repeated Chinese military and coast guard actions in Taiwan undermine regional peace and stability and further creating cracks in an already fragile geopolitical environment.

“This heightened scale of coercion has implications that extend beyond cross-Strait relations and into the broader Indo-Pacific community,” he said. Related story in See “China,” A2

HE Trump administration stepped up a pressure campaign against Venezuela’s oil exports by sanctioning companies based in Hong Kong and mainland China, along with related oil tankers it accused of evading restrictions.

The Treasury Department’s Office of Foreign Assets Control on Wednesday added four companies with links to Venezuela’s oil industry—Zhejiang-based Corniola Ltd. and Hong Kong-based Aries Global Investment Ltd., Krape Myrtle Co and Winky International Ltd.—to its specially designated nationals and blocked persons list. It also sanctioned four vessels connected with those firms: Della, Nord Star, Rosalind and Valiant.

The US already has a list of vessels and companies under sanction for their connections to Venezuela’s oil trade. But targeting Chinese firms doing business there is rare, and could be a signal to Beijing to steer clear of the stand-off between the Trump administration and the regime of Nicolás Maduro. China is Venezuela’s biggest customer for oil exports, which represent about 95 percent of Venezuela’s revenue.

“These vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro’s illegitimate narco-terrorist regime,” the Treasury Department said in a statement. “Maduro’s regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity, including sanctions evasion, and to generate revenue for its destabilizing operations.”

Of the vessels identified by the Treasury Department Wednesday, only one has been anywhere close to Venezuela lately, according to ship-tracking data—the Rosalind, which typically is involved in short-haul trips known as cabotage. But it’s possible that others

have traveled without sending transponder data.

Rising pressure

THE sanctions represent the latest move in President Donald Trump’s pressure campaign against Maduro over alleged drug trafficking operations. On Tuesday, the Treasury Department also imposed sanctions on 10 individuals and firms based in Iran and Venezuela over their alleged involvement in weapons trading.

US forces have intercepted two carriers in recent weeks. A third turned away from Venezuela and retreated to the Atlantic Ocean after it was pursued by US forces.

The US has also launched strikes against purported drug trafficking boats off the coast of Venezuela and also implemented a blockade of sanctioned oil tankers to disrupt the country’s crucial energy exports.

US Southern Command on Wednesday said it struck three more vessels on December 30, sinking them and killing three individuals. Others on two of the boats jumped overboard and swam away from the crafts before their boats were sunk in a followup strike.

In a notable change from a highly-criticized September engagement in the Caribbean, when the US launched a second strike killing people who survived at first, Southern Command says it notified the Coast Guard to activate search and rescue. The fate of those who had jumped into the sea was not disclosed in the strike announcement.

Southern Command also said it had separately carried out a strike Wednesday on two more vessels, killing five people.

China slams US ‘bullying’

CHINA has criticized the US quarantine on Venezuelan ports as “unilateral bullying” and has said the ship seizures are a violation of international law. The private Chinese refiners known as teapots, which See “Oil tankers,” A2

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, January 2, 2026

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‘Focus on 3 key pillars will SEC recognized for promoting allow PHL to post AI gains’ financial literacy

P

By Lorenz S. Marasigan

@lorenzmarasigan

LDT Inc. is calling for coordinated investments in talent development, governance frameworks, and digital infrastructure to position the Philippines as a leader in artificial intelligence (AI) adoption across Southeast Asia.

Eric Santiago, who heads the network strategy and architecture division of PLDT, said the country needs to strengthen “three critical pillars” to fully harness AI’s potential economic benefits, which studies estimate could add 8 percent to 12 percent to the Philippines’s GDP by 2030.

“It’s not just about the buzzwords, but about bottom lines and better lives,” Santiago said, emphasizing

that AI development must translate into measurable productivity gains, new export opportunities, and improved services.

He said building AI expertise must begin at the educational level, with universities and schools integrating AI literacy into their curricula.

The telecommunications executive also proposed incentives to encourage Filipino AI specialists work-

ing abroad to return and contribute to domestic talent development.

“We should also encourage and incentivize Filipino AI experts abroad to return and help in training,” Santiago said. “Upskilling our people is essential. AI fluency must be accessible to all so we can build the bench needed for long-term innovation.”

Robust governance mechanisms and cybersecurity protocols are equally critical to sustainable AI deployment, according to Santiago.

He said coordination among government agencies and local government units would be essential to establishing trust in AI systems.

“A resilient governance framework ensures that every API integration, every connection point, and every AI-enabled system remains safeguarded,” Santiago said, noting that strong governance would help attract foreign investment while protecting citizens’ data and privacy.

He positioned PLDT’s network investments as “foundational” to

supporting AI applications across the archipelago. The company has deployed 5G Standalone technology, distributed edge computing capabilities, and multiple connectivity solutions including laserbased, point-to-multipoint, and satellite systems.

“We are building networks that stay intelligent and operational despite disruptions, ensuring continuous service.”

The executive introduced the concept of “archipelago intelligence” to describe how AI could be adapted to the Philippines’s unique geographic challenges, transforming technological capabilities into practical solutions that deliver value across dispersed island communities.

“Through collaboration within the industry and with other stakeholders, the Philippines can lead in turning AI into what I call ‘archipelago intelligence’, transforming efforts into ‘actual impact’ and ‘actionable intelligence’ to deliver value across our islands.”

CME hikes precious-metal margins C

ME Group raised margin requirements on preciousmetal futures for the second time in the space of a week, following a bout of volatility that saw prices spike then retreat.

The higher collateral that traders must set aside to hold futures positions in gold, silver, platinum and palladium is the latest evidence of an historic year-end surge in volatility across precious metals markets.

Silver in particular has seen huge price swings as it blew through levels that until recently seemed unthinkable. The latest changes will take effect after the close of business on Wednesday.

Clearinghouses like the CME’s ask brokers to deposit cash, or margin, on

a daily basis to cover potential losses on their clients’ positions.

The levels are calculated regularly based on market volatility, according to a description on the CME’s website, and the requirements for silver have risen more than half a dozen times since late September as the metal’s intraday price moves have grown ever-wider. The exchange also increased the margin requirements for copper earlier this week.

Speculative interest in silver has surged in recent days, both on China’s main spot precious metals exchange and in the US. The metal’s spot price rose to a record above $84 an ounce early Monday, before crashing close to $70, one of silver’s largest intraday price reversals ever.

The contract size of Comex silver futures is 5,000 ounces.

Recent price gyrations translated to nearly a $20,000 move for a single futures contract, said Phil Streible, chief market strategist at Blue Line Futures, adding that the size of the moves meant that CME had to raise the margin requirements.

The exchange also has a micro silver futures contract with a smaller size of 1,000 ounces and its trading volume surged 127 percent in December after remaining lackluster during the January-November period.

Market participants have suggested that the CME’s margin adjustments helped push prices lower this week, by prompting some bullish

traders to reduce their positions. A number of analysts had been warning that silver was due for a pullback after the dramatic surge of recent weeks.

“The price action we had on Monday was inevitable, regardless of whether CME’s margin hikes happened or not,” said Michael Purves, founder of Tallbacken Capital Advisors LLC. Still, he said, higher margins “tend to take some fluff out of the rally.”

Silver retreated sharply on Wednesday, with futures slumping as much as 9.9% toward $70 an ounce. Platinum and palladium contracts also posted heavy intraday losses, while gold retreated more modestly. Bloomberg News

New made-in-USA cars qualify for Trump tax perk, IRS says

T

AXPAYERS who bought a new car in 2025 may qualify for a new tax break in the upcoming filing season — so long as that vehicle was made in the US, the Internal Revenue Service (IRS) said.

Taxpayers should check the vehicle information label, or VIN, to figure out whether a car they purchased this year qualifies for President Donald Trump’s new tax deduction for car loan interest, the IRS said in guidance about the tax break published on Wednesday.

The tax deduction applies to new cars assembled in the US purchased from 2025 through the end of 2028.

The IRS advised in a proposed rule that buyers can determine if their car qualifies by checking the final assembly location included on the vehicle information label that’s attached to cars on dealership lots.

They can also run their car’s VIN through the National Highway Traffic Safety Administration’s database to determine at which manufacturing plant the vehicle was built, the proposal said.

That means that some buyers may not qualify for the new tax break, even if they purchased fresh-off-thelot vehicles this year.

Of the 25 most popular new car models sold domestically in 2024, 14 underwent final assembly solely in the US. Those include the Ford F-series trucks, the most popular new model sold in 2024, as well as

A TOYOTA dealership in Richmond, California. BLOOMBERG

the Chevy Silverado, Tesla Model Y, Ram pickup truck, GMC Sierra and the Toyota Camry, according to the analysis from the Bipartisan Policy Center.

Had the deduction been in effect for new cars purchased in 2024, of the 25 most popular models, about 4 million of the 7 million units sold that year would have qualified for the deduction, according to the think tank’s analysis performed before the IRS proposed rules were released.

Four of the 25 most popular car models sold in 2024 were slated for final assembly in multiple countries, including the US and at least one other country, according to analysis by the Bipartisan Policy Center.

Trump first pitched the tax break during a campaign swing through

Detroit, Michigan, a hub of US automanufacturing. As the White House pivots to address voter discontent over the persistently high cost of living, Trump’s campaign tax promises, including the car loan interest deduction, are taking center stage.

“For the administration it’s clearly aimed at supporting and boosting domestic auto production and domestic auto consumption,” said Andrew Lautz, director of tax policy at the Bipartisan Policy Center. Whether it turns out to be a “boom or bust” for the auto industry is less clear given other macroeconomic headwinds, he said.

Though the tax cut is estimated to cost $31 billion over 10 years, tax savings for individual taxpayers are likely to be modest, amounting to

probably a “couple hundred dollars off a $50,000 vehicle purchase” in the first year, Lautz said. The deduction is capped at $10,000 annually.

Middle-income households are among those likely to benefit from the new tax break, which starts to phase out for single taxpayers making at least $100,000 and married taxpayers making at least $200,000.

Low-income taxpayers, who tend to buy used, rather than new cars, are less likely to benefit from the tax break, Lautz said.

The proposed rules would take a broad approach to determining whether a taxpayer has purchased a car for “personal use,” another requirement included in the law.

To qualify for the tax break, buyers, when they secure the loan, must expect the purchaser or a family member to use the car for personal use at least half the time. They would still qualify for the tax break, even if their use of the car shifted to commercial use over time, according to the proposal.

The proposed rules would require any lender who collects at least $600 in interest in a year from an individual related to a car loan to file an information return with the IRS and provide information to the borrower. For 2025, the lender can satisfy requirements by providing the borrower with the total interest paid for the year, under earlier IRS transition guidance. Bloomberg News

BUSINESSMIRROR FILE PHOTO

By VG Cabuag @villygc

T

he Securities and Exchange Commission (SEC) has been recognized by the Bangko Sentral ng Pilipinas (BSP) for implementing innovative programs that promote financial education for the public.

The SEC said it received the recognition as one of Innovative Financial Education Partners of the BSP during the second day of the Financial Education Stakeholders’ Congress 2025.

The recognition is given to agencies that implement creative and scalable financial education initiatives promoting financial resilience and inclusion among stakeholders, and showcasing effective systems for institutional learning and impact measurement.

Other agencies recognized by the BSP include the Department of Agriculture-Agriculture Credit Policy Council, the Department of Education, Asian Development Bank, the Philippine Deposit Insurance Corporation and Insurance Commission .

“It is an honor for the SEC to be recognized for its initiatives to promote financial education, which is a crucial step toward ensuring that people can make smart investment decisions,” SEC Chairman Francis E. Lim said.

“As it remains unwavering in its fight against investment scams and illegal lenders, the commission will continue to leverage on partner-

ships with other organizations and government agencies such as the BSP to reinforce the importance of financial literacy in securing one’s financial future.”

The SEC has consistently led programs that champion financial education. In June, the Financial Sector Forum relaunched the Protect Your Money Campaign, shifting its financial literacy campaign to digital platforms to address the rise of online scams. Under the campaign, the SEC produced reels, short-form videos and targeted campaigns to reach its stakeholders.

It also participated in a panel discussion on the first day of the Financial Education Stakeholders’ Congress 2025 to tackle practices and tools that would effectively promote financial learning.

In November, the SEC led the celebration of Investor Protection Week to emphasize the importance of financial literacy for a secure financial future.

The event showcased the relaunch of SEC Academy, its revamped educational platform that offers free online courses on how to effectively manage personal finances wisely, start a business and invest wisely.

The SEC also advocated for making financial literacy a mandatory subject for high school students through lessons integrated in the SEC Academy, in a bid to equip students with the necessary skills and knowledge to make wise financial choices.

US labor board abandons case vs Musk’s SpaceX

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HE United States labor board is abandoning a complaint over SpaceX’s severance and arbitration policies, resolving one front of a sprawling legal battle between the agency and Elon Musk’s aerospace company.

In a December 18 joint motion, attorneys for both SpaceX and the National Labor Relations Board (NLRB) asked a federal judge in Texas to dismiss one of two lawsuits filed by SpaceX that argued the NLRB’s structure was unconstitutional, since the agency had decided to withdraw its complaint against the company.

The case had centered around a complaint issued by the NLRB’s Seattle office in March 2024. The agency alleged that terms in the company’s severance and arbitration agreements, including confidentiality rules, were illegally coercive. SpaceX sued the next month to challenge the NLRB’s constitutionality, its second such challenge after another it filed in response to a complaint from an NLRB office in Los Angeles.

The reversal by the NLRB — the US agency responsible for enforcing most private sector employees’ rights

to organize or take collective action about working conditions — is a victory for SpaceX. The NLRB has also been backtracking on the complaint it had issued in California, telling a court in April that it was exploring whether it lacked jurisdiction to pursue that case in the first place. That complaint alleged that the firm illegally retaliated against workers who criticized Musk.

Since SpaceX filed its first lawsuit last year, other companies including Amazon.com Inc. have filed similar cases, several of which are now pending in US courts.

While the labor board is facing similar challenges from other firms, the NLRB’s acting general counsel, William Cowen, said the agency concluded that the dispute over the SpaceX confidentiality complaint wasn’t the best one to reach the US Supreme Court. After considering “Is this the horse we want to ride on this issue?”, he said, “It was determined that that was really not the path to follow, which is why we backed off.”

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Friday, January 2, 2026

PSE STOCK QUOTATIONS

December 29, 2025

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

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

39.1 134.5 9.15 116.1 57 15.36 11.5 68.45 7.75 16.68 54.35 54 118 25.5 65.6 26.6 0.6 1.37 1.39 0.6 4.9 0.092 1,880 0.75 205.4 3,400 0.9

39.2 134.6 9.2 118.7 57.15 16.58 11.6 68.5 7.83 16.8 54.4 57.25 120 25.95 65.65 26.85 0.65 1.42 1.44 0.66 5 0.098 2,000 0.77 208 3,440 0.94

39.25 135.3 9.15 119.6 57.2 17.06 11.52 68 7.83 16.7 53 53.95 100.1 26 64.65 27 0.65 1.42 1.38 0.66 4.45 0.1 1,880 0.76 205 3,360 0.92

39.35 136.2 9.28 119.8 57.3 17.06 11.6 68.6 7.85 16.7 54.6 57.6 120 26 66.7 27 0.65 1.42 1.39 0.66 5.1 0.1 1,880 0.78 207 3,440 0.96

39.2 134.5 9.05 116.1 56.85 17.06 11.5 68 7.7 16.7 53 53.95 100.1 25.95 64.65 26.6 0.55 1.4 1.38 0.66 4.45 0.09 1,880 0.74 205 3,360 0.89

39.2 134.6 9.2 116.1 57 17.06 11.6 68.5 7.7 16.7 54.4 54 120 25.95 65.65 26.6 0.65 1.42 1.39 0.66 5 0.09 1,880 0.77 205.4 3,440 0.89

18,400 2,949,770 69,900 798,920 334,420 100 71,800 1,399,780 54,500 4,000 519,990 2,130 1,640 1,900 216,380 12,900 266,000 6,000 25,000 5,000 42,000 560,000 10 2,049,000 24,900 315 316,000

721,775 398,810,447 642,551 93,703,918 19,063,438 1,706 830,290 95,779,469 420,498 66,800 28,068,246 117,251.50 196,252 49,365 14,265,260 345,365 158,170 8,500 34,610 3,300 210,400 50,870 18,800 1,561,290 5,110,308 1,073,800 291,870

-19,650 31,910,563 -64,280 -30,527,847 538,209.50 2,300 19,850,481.50 6,508,504.50 -7,934,862.50 -147,520 -400 8,500 -2,000 18,800 2,423,846 1,056,600 80,710

INDUSTRIAL ACEN CORP 2.72 2.75 2.75 2.81 2.72 2.72 10,618,000 29,253,240 -1,528,000 0.46 0.47 0.47 0.47 510,000 239,700 ALSONS CONS 0.47 0.47 ALTERNERGY HLDG 0.82 0.84 0.84 0.85 0.79 0.84 1,138,000 927,370 147,300 43 43.1 42.8 44 704,900 30,769,435 581,350 ABOITIZ POWER 44 44 RASLAG 0.83 0.79 0.82 0.81 0.8 0.82 237,000 190,730 -25,730 0.114 0.116 0.114 0.117 750,000 86,840 BASIC ENERGY 0.117 0.117 4.12 4.25 4.2 4.28 76,000 321,810 -33,920 CITICORE RE 4.28 4.28 FIRST GEN 17.5 17.74 17.3 17.86 17.24 17.74 94,200 1,637,862 -18,964 75 77 74.5 77 74 77 122,650 9,243,473.50 6,409,107 FIRST PHIL HLDG JOLLIVILLE HLDG 3.08 3.98 4.02 4.02 3.08 3.08 257,000 795,140 12,330 574 576 576 582 570 574 231,820 -51,085,850 MERALCO 133,041,300 MANILA WATER 40.25 40.3 39.8 40.45 39.8 40.3 1,150,300 46,365,475 15,021,185 MAYNILAD 16.9 16.9 16.72 16.7 16.5 16.9 4,761,500 79,923,400 35,063,562 2.48 2.5 2.5 2.48 2.48 214,000 531,800 PETRON 2.49 PETROENERGY 3.5 3.5 3.21 3.32 3.28 3.5 26,000 87,900 -10,010 6.35 6.36 6.35 6.35 6.35 6.35 5,500 34,925 REPOWER ENERGY SEMIRARA MINING 28.1 28.25 28 28.25 27.7 28.25 682,200 19,109,620 9,185 16.54 16.56 16.56 16.78 16.52 16.56 1,281,300 21,288,932 -3,749,248 SYNERGY GRID 6.92 6.32 6.16 6.93 2,323,400 15,545,717 -358,244 SHELL PILIPINAS 6.93 6.93 SPC POWER 9.73 9.75 9.45 9.89 9.42 9.74 1,082,600 10,253,074 118,270 1.16 1.17 1.15 1.18 1.15 1.17 11,967,000 13,962,960 48,390.00 SP NEW ENERGY TOP LINE 1.59 1.6 1.6 1.64 1.58 1.6 3,013,000 4,850,870 -705,010 18.3 21.95 19.44 19.44 19.44 100 1,944 VIVANT 19.44 AGRINURTURE 0.54 0.54 0.53 0.53 0.51 0.54 7,134,000 3,782,010 2.26 2.36 2.35 2.37 2.26 2.36 204,000 470,510 AXELUM 38.85 39 38.9 39.6 38.6 39 931,300 36,479,600 712,005 CENTURY FOOD DEL MONTE 4.58 4.94 4.7 4.7 4.7 4.7 11,000 51,700 3.85 3.86 3.74 3.89 3.74 3.85 7,754,000 29,816,870 1,927,350 DNL INDUS EMPERADOR 16.02 15.98 15.88 16.1 15.74 16 2,763,400 44,185,698 -503,338 54.05 55 55.4 55.45 53.1 55 125,020 6,841,854.50 -4,016,062.50 SMC FOODANDBEV 0.58 0.57 0.57 0.58 2,162,000 1,252,360 -953,460.00 FIGARO GROUP 0.59 0.59 0.64 0.64 FRUITAS HLDG 0.63 0.63 0.62 0.64 111,000 69,520 291.2 290 290 295 5,270 1,544,262 210,636 295 295 GINEBRA JOLLIBEE 116,783,299 179 180 179.9 182 177.9 180 650,260 5,507,457 2.39 2.48 2.4 2.48 2.38 2.48 3,715,000 9,025,120 -3,468,500 KEEPERS HLDG 33.5 33.8 33.8 33.85 33.3 33.8 6,300 212,905 LIBERTY FLOUR MACAY HLDG 6.6 6.99 6.6 6.99 6.6 6.99 200 1,359 2.34 2.45 2.49 2.49 2.35 2.45 73,000 172,800 -18,900 MAXS GROUP MG HLDG 0.058 0.06 0.061 0.061 0.06 0.06 620,000 37,220 5.79 5.8 5.88 6 5.8 5.8 4,868,000 28,548,202 -56,514 MONDE NISSIN SHAKEYS PIZZA 6.65 6.8 6.85 6.85 6.63 6.8 27,000 182,861 2.68 2.76 2.81 2.81 2.67 2.68 53,000 145,470 -90 ROXAS AND CO 4.74 4.75 4.8 4.85 4.75 4.75 373,000 1,793,340 -960,520 RFM CORP SWIFT FOODS 0.047 0.048 0.051 0.053 0.046 0.047 2,510,000 118,270 9,220 67.2 67.3 66.5 67.5 66.5 67.3 559,660 37,640,771.50 -11,753,874.50 UNIV ROBINA VITARICH 0.54 0.53 0.54 0.55 0.53 0.53 618,000 331,760 38 52.05 52.05 52.9 30 1,578.50 52.9 52.9 CONCRETE B 1.05 1.09 1.05 1.1 1.05 1.09 14,000 15,070 CONCREAT HLDG EEI CORP 2.84 2.84 2.65 2.65 2.65 2.84 24,000 65,960 2.92 2.99 2.96 2.99 2.92 2.99 150,000 440,850 -38,740 MEGAWIDE PHINMA 15.64 16.02 16.6 16.7 15.64 16.7 46,600 758,058 -4,800 9.1 9.1 9.1 9.1 9.1 3,600 32,760 SUPERCITY TKC METALS 0.35 0.44 0.45 0.45 0.4 0.44 570,000 248,350 145,800 CROWN ASIA 1.68 1.68 1.67 1.65 1.64 1.68 47,000 77,740 8,250 1 1.07 1.05 0.98 1 8,000 8,210 -4,150 EUROMED 1.05 5.19 5.19 MABUHAY VINYL 4.96 5.15 5.15 5.19 3,000 15,534 13.1 13.24 13.1 13.2 13.1 13.2 44,900 589,436 PRYCE CORP CONCEPCION 13.7 13.7 13.6 13.7 13.6 13.6 28,000 383,270 0.175 0.18 0.17 0.18 0.17 0.18 5,720,000 1,020,160 -1,780 GREENERGY 3.46 3.47 3.65 3.65 3.42 3.47 302,000 1,076,220 304,090 INTEGRATED MICR IONICS 1.05 1.01 1.02 1.02 1.01 1.02 554,000 566,470 51,000 10.6 10.6 10.9 10.6 10.8 81,700 887,210 PANASONIC 10.8 CIRTEK HLDG 0.64 0.64 0.63 0.63 0.63 0.63 220,000 138,880 2.12 2.18 2.18 2.18 2.18 28,000 61,040 2.16 STENIEL

HOLDING & FRIMS

ABACORE CAPITAL 0.26 0.265 0.28 0.29 0.26 0.26 49,490,000 13,099,350 -9,440,200 18.6 18.78 18.9 19.96 18.78 18.78 183,300 3,497,186 ASIABEST GROUP AYALA CORP 468 468 467 456 456 468 144,780 67,401,898 8,827,846 28 28.05 27.5 28.1 27.5 28 889,500 24,827,285 4,116,660 ABOITIZ EQUITY ALLIANCE GLOBAL 8.17 8.19 7.72 9 7.72 8.19 20,958,600 173,907,952 -47,731,413 13.56 14.3 13.6 14.4 13.36 14.4 69,500 957,676 248,400 ANSCOR 0.7 0.72 0.7 0.72 0.68 0.7 1,506,000 1,068,540 ANGLO PHIL HLDG COSCO CAPITAL 6.99 7 7 7.04 6.99 6.99 390,200 2,730,205 657,102 10.54 10.56 10.38 10.54 10.36 10.54 3,084,200 32,303,522 1,328,992 DMCI HLDG FILINVEST DEV 4.48 4.55 4.55 4.6 4.5 4.55 60,000 272,780 2.6 2.64 2.21 2.6 2.21 2.6 4,000 10,010 FJ PRINCE A GT CAPITAL 593 595 583 603 583 595 702,530 419,015,370 93,684,995 JG SUMMIT 23.7 23.7 23.65 23.4 23.4 23.65 2,528,100 59,765,485 16,791,205 0.35 0.37 0.35 0.35 0.35 30,000 10,500 LODESTAR 0.35 LOPEZ HLDG 3.73 3.72 3.72 3.71 3.71 3.72 164,000 609,760 -490,880 14.74 14.78 14.5 14.8 14.48 14.78 1,834,000 26,817,278 10,610,810 LT GROUP PRIME MEDIA 1.3 1.3 1.2 1.11 1.11 1.3 106,000 131,430 1.23 1.28 1.21 1.27 1.21 1.27 286,000 362,310 14,760 SOLID GROUP 699 699.5 700 702.5 695 699.5 308,690 215,920,505 -103,168,950 SM INVESTMENTS SAN MIGUEL CORP 81.05 82 81.95 82.25 80.6 82 410,490 33,619,185.50 -23,540,028.50 1.91 2.33 2.02 2.36 2.02 2.36 18,000 37,190 -2,020 SEAFRONT RES TOP FRONTIER 61 61 55.7 61 60 61 2,050 125,010 -1,220 0.26 0.3 0.26 0.26 0.26 0.26 50,000 13,000 WELLEX INDUS ZEUS HLDG 0.067 0.074 0.069 0.069 0.067 0.067 170,000 11,520

PROPERTY ARTHALAND CORP 0.415 0.425 0.415 0.42 0.415 0.42 90,000 37,700 -4,200 22.4 22.45 22.4 22.65 22.1 22.45 8,538,900 191,781,045 -14,313,860 AYALA LAND AYALA LAND LOG 1.3 1.31 1.31 1.32 1.29 1.3 4,146,000 5,389,590 8.4 8.5 8.4 8.4 8.4 8.4 100 840 ALTUS PROP ARANETA PROP 0.41 0.42 0.415 0.415 0.4 0.4 9,350,000 3,832,400 -4,100 43.5 43.75 44 44 43.25 43.5 866,800 37,684,990 -15,764,235 AREIT RT 0.92 0.93 0.92 0.93 146,000 135,580 A BROWN 0.93 0.93 CITYLAND DEVT 0.58 0.6 0.6 0.61 0.59 0.59 78,000 46,500 0.072 0.073 0.072 0.072 22,330,000 1,608,260 0.073 0.073 CROWN EQUITIES CEB LANDMASTERS 2.35 2.35 2.34 2.35 2.34 2.35 145,000 340,350 0.69 0.67 0.67 0.69 6,092,000 4,187,700 2,010 0.7 0.7 CENTURY PROP CITICORE RT 3.57 3.58 3.57 3.6 3.57 3.57 1,492,000 5,337,510 -68,080 DOUBLEDRAGON 9.29 9.1 9.28 9.2 9.1 9.28 48,500 446,256 928.9999 1.02 1.02 1.01 1.02 5,600,000 5,710,690 103,020 DDMP RT 1.03 1.03 DM WENCESLAO 4.61 4.84 4.84 5 4.84 5 20,000 97,480 -39,080 0.104 0.105 0.104 0.104 310,000 32,250 EMPIRE EAST 0.105 0.105 FILINVEST RT 3.1 3.1 3.07 3.02 3.01 3.1 410,000 1,251,510 89,650 0.77 0.78 0.76 0.77 0.76 0.77 1,416,000 1,089,520 -14,580 FILINVEST LAND 0.69 0.72 0.69 0.74 0.69 0.69 2,522,000 1,758,710 -31,800 GLOBAL ESTATE GOLDEN MV 1,000 1,000 952.5 1,000 1,000 1,000 155 155,000 0.315 0.33 0.32 0.325 0.315 0.315 180,000 57,600 PHIL INFRADEV KEPPEL PROP 2.47 2.47 2.26 2.47 2.2 2.2 7,000 15,670 -13,200 0.53 0.54 0.53 0.53 0.53 0.53 58,000 30,740 CITY AND LAND MEGAWORLD 2.09 2.09 2.08 2.06 2.06 2.08 4,886,000 10,161,460 3,948,340.00 MRC ALLIED 0.86 0.87 0.86 0.88 0.84 0.87 28,353,000 24,803,780 -4,763,380 13.98 14 14 14.02 13.96 14 704,700 9,860,314 -2,787,190 MREIT RT OMICO CORP 0.1 0.109 0.101 0.101 0.101 0.101 100,000 10,100 1,010 1.01 1.02 1.02 1.03 1.01 1.02 479,000 486,550 PREMIERE RT PRIMEX CORP 1.28 1.28 1.13 1.13 1.13 1.28 14,000 16,220 8.01 8.02 7.9 8.02 7.9 8.02 10,437,700 83,483,173 34,667,819 RL COMM RT 16.16 16.2 16.16 16.38 16.16 16.16 334,500 5,440,264 4,713,092 ROBINSONS LAND ROCKWELL 1.97 1.85 1.9 1.9 1.84 1.85 911,000 1,692,060 -3,730 3.5 3.54 3.42 3.56 3.42 3.54 196,000 675,020 SHANG PROP STA LUCIA LAND 2.41 2.58 2.58 2.6 2.58 2.6 11,000 28,480 22.75 22.9 23.6 23.6 22.75 22.75 6,761,300 155,489,500 -85,620,015 SM PRIME HLDG 1.15 1.15 1.3 1.1 1.25 87,000 100,530 5,500 VISTAMALLS 1.25 SUNTRUST RESORT 0.76 0.76 0.74 0.76 0.7 0.76 467,000 343,620 1.03 0.93 0.93 1.04 3,896,000 3,936,950 491,940 1.04 1.04 VISTA LAND VISTAREIT RT 1.37 1.37 1.35 1.34 1.32 1.37 761,000 1,021,140 223,750

SERVICES ABS CBN 4.21 4.25 4.28 4.34 4.2 4.21 155,000 661,290 5.41 5.45 5.38 5.45 5.38 5.41 313,000 1,693,665 GMA NETWORK MANILA BULLETIN 0.164 0.179 0.164 0.164 0.164 0.164 20,000 3,280 1,584 1,585 1,585 1,585 1,573 1,584 8,935 14,127,545 -1,640,310 GLOBE TELECOM PLDT 1,260 1,257 1,265 1,278 1,255 1,260 54,030 68,080,990 -28,979,630 0.005 0.0051 0.0049 0.0051 0.0049 0.005 127,000,000 630,600 APOLLO GLOBAL 15.3 15.32 14.96 15.4 14.92 15.32 2,444,700 37,312,614 6,169,300 CONVERGE DFNN INC 0.79 0.8 0.81 0.81 0.8 0.8 71,000 57,050 -36,800 0.68 0.69 0.65 0.7 0.65 0.68 15,142,000 10,342,690 3,114,570 DITO CME HLDG ISLAND INFO 0.126 0.126 0.123 0.124 0.123 0.123 1,170,000 144,900 0.68 0.69 0.68 0.69 0.68 0.68 748,000 512,880 NOW CORP TRANSPACIFIC BR 0.133 0.135 0.136 0.136 0.131 0.133 580,000 76,430 34.65 34.65 34.5 34.45 34.45 34.5 175,900 6,067,270 ASIAN TERMINALS 0.92 0.91 0.9 0.95 431,000 408,250 0.95 0.95 CHELSEA CEBU AIR 31.95 32 32.65 33.95 32 32 970,700 31,455,810 -28,345,440 567 567.5 570 576 566 567 461,830 263,717,805 25,932,975 INTL CONTAINER LBC EXPRESS 8.1 8.8 8.87 8.87 8.8 8.8 600 5,306 0.61 0.64 0.61 0.62 0.61 0.61 6,000 3,670 -1,220 LORENZO SHIPPNG 4.3 4.23 4.36 4.23 4.34 95,000 406,470 -4,340 MACROASIA 4.34 PAL HLDG 3.8 3.8 3.77 3.8 3.65 3.8 27,000 100,090 10,720 0.56 0.49 0.49 0.59 200,000 109,840 -1,640 HARBOR STAR 0.59 0.59 BOULEVARD HLDG 0.039 0.042 0.043 0.043 0.039 0.039 9,700,000 395,100 15.7 15.74 15.32 15.78 15.32 15.7 37,200 585,224 CENTRO ESCOLAR FAR EASTERN U 800 814.5 800 800 800 800 20 16,000 6.26 6.26 5.99 6.26 6 6 800 4,904 IPEOPLE 1.4 1.41 1.41 1.42 1.4 1.41 916,000 1,290,840 5,640 STI HLDG BELLE CORP 1.32 1.34 1.33 1.37 1.31 1.32 142,000 188,240 2.53 2.58 2.58 2.54 2.54 6,566,000 16,699,980 1,877,050 2.54 BLOOMBERRY PACIFIC ONLINE 1.7 1.8 1.75 1.75 1.7 1.7 22,000 38,250 0.133 0.14 0.137 0.139 0.133 0.133 740,000 101,290 -11,040 PH RESORTS GRP 16 16.2 15.98 15.74 16.2 6,627,900 106,637,306 1,758,818 DIGIPLUS 16.58 PHIL RACING 6.6 7 5.06 6.6 5.06 6.6 2,400 14,572 6.2 6.32 6.2 6.39 6.2 6.2 1,067,300 6,731,226 35,038 PHILWEB ALLDAY 0.031 0.034 0.033 0.033 0.031 0.031 11,300,000 353,900 7.08 9 8.3 8.3 9 37,700 330,535 9.6 BERJAYA 0.237 0.24 0.24 0.235 0.237 170,000 40,670 ALLHOME 0.246 METRO RETAIL 1.15 1.15 1.14 1.15 1.12 1.15 61,000 69,900 37.95 38 37.95 38.3 37.35 38 343,700 2,310,420 13,045,365 PUREGOLD ROBINSONS RTL 33.05 33.35 33.45 33.45 33 33.05 674,200 22,439,910 -2,530,435 37 37.1 37.65 37.7 37 37 313,400 11,728,085 247,475 PHIL SEVEN CORP 2.63 2.63 SSI GROUP 2.54 2.48 2.46 2.63 284,000 730,660 50,800 UPSON INTL CORP 0.69 0.7 0.71 0.71 0.7 0.7 51,000 35,840 6.95 6.96 6.94 6.97 6.94 6.96 829,700 5,774,506 -5,403,791 WILCON DEPOT APC GROUP 0.106 0.108 0.108 0.109 0.106 0.106 810,000 87,440 7,430 0.245 0.26 0.26 0.245 0.26 110,000 27,500 4,900 MEDILINES 0.255 PAXYS 2.62 2.5 2.61 2.61 2.61 2.61 3,000 7,830 0.237 0.238 0.234 0.237 0.234 0.237 1,310,000 309,100 -35,400 PRMIERE HORIZON 1.63 1.84 1.84 1.84 14,000 25,760 PHILCOMSAT 1.84 1.84 SBS PHIL CORP 3.54 3.89 3.7 3.89 3.7 3.89 45,000 172,480

MINING & OIL ATOK 2 2.05 2 1.9 2.06 44,000 86,860 -32,590 2.09 APEX MINING 12.42 12.44 12.96 13 12.38 12.44 8,244,700 103,987,346 3,972,202 6.02 6.03 5.8 6.08 5.8 6.03 3,068,800 18,354,170 864,368 ATLAS MINING BENGUET A 4.9 4.98 4.7 5 4.7 5 210,000 1,022,050 4.5 4.83 4.83 4.83 2,000 9,660 4.83 4.83 BENGUET B 2.27 2.39 2.39 2.39 2.39 2.39 25,000 59,750 59,750 CENTURY PEAK DIZON MINES 4.88 5 4.76 5.1 4.76 5 8,500 42,312 1.28 1.31 1.23 1.35 1,555,000 2,056,860 1,402,240 1.35 1.35 FERRONICKEL GEOGRACE 0.087 0.087 0.078 0.087 0.087 0.087 30,000 2,610 0.185 0.186 0.183 0.185 25,510,000 4,722,610 0.187 0.187 LEPANTO A LEPANTO B 0.183 0.187 0.19 0.19 0.187 0.187 170,000 32,000 0.0072 0.0073 0.0074 0.0074 0.0073 0.0073 105,000,000 776,800 MANILA MINING A 0.0071 0.0074 0.0072 0.0072 0.0072 0.0072 2,000,000 14,400 MANILA MINING B MARCVENTURES 0.71 0.69 0.7 0.69 0.69 0.7 580,000 409,780 0.315 0.35 0.335 0.315 0.315 140,000 45,600 -39,050 0.335 NIHAO NICKEL ASIA 3.88 3.89 3.9 3.97 3.79 3.89 13,112,000 51,176,460 -18,368,820 32 32.2 32.3 32.5 31.9 32.2 3,700,300 -9,500,080 OCEANAGOLD 119,004,100 0.375 0.39 0.39 0.39 0.37 0.37 110,000 42,200 ORNTL PENINSULA PX MINING 9.9 9.94 10.28 10.28 9.87 9.9 4,529,700 45,077,074 -5,263,004 0.0055 0.0057 0.0057 0.0058 14,000,000 80,100 UNITED PARAGON 0.0058 0.0058 ENEX ENERGY 3.34 3.34 3.23 3.3 3.3 3.34 4,000 13,240 -3,340 0.011 0.012 0.011 0.012 0.011 0.012 600,000 6,700 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.012 0.011 0.012 700,000 8,100 1,200 PHILODRILL 0.0089 0.0086 0.009 0.009 0.0089 0.0089 7,000,000 62,900 -8,900 2.38 2.4 2.39 2.4 2.38 2.38 70,000 167,410 PXP ENERGY

PREFFERED ACEN PREF A 1,010 1,012 1,010 1,010 1,010 1,010 15 15,150 1,065 1,070 1,070 1,070 1,070 1,070 20 21,400 ACEN PREF B AC PREF AR 2,540 2,550 2,540 2,540 2,540 2,540 170 431,800 406,400 102.5 105.5 102.7 105.5 101.6 105.5 1,400 143,445 BRN PREF C CEB PREF 34 34.9 35.1 35.1 35 35 10,800 378,080 -14,040 1,015 1,050 1,069 1,073 1,069 1,073 230 246,310 CLI PREF A2 100.1 102 102 102 102 102 10 1,020 CPG PREF B DD PREF 97 97.8 97 97.95 96.95 97 11,540 1,121,158 97.3 98.4 98.4 98.4 98.4 98.4 10,550 1,038,120 EEI PREF B GTCAP PREF B 980 1,000 1,000 1,000 1,000 1,000 15 15,000 980 994 994 994 994 994 10 9,940 JFC PREF B MWIDE PREF 5 96.05 102.9 103 103 103 103 10 1,030 103 103.8 103.8 103.8 103.8 103.8 100 10,380 MWIDE PREF 6C 100.4 101 101 101 100.4 100.4 520 52,220 MWIDE PREF 7A MWIDE PREF 7B 104.1 105 105 105 105 105 520 54,600 1,001 1,005 1,000 1,005 1,000 1,005 425 425,700 PCOR PREF 3B PCOR PREF 4C 1,000 1,009 1,009 1,009 1,009 1,009 10 10,090 74.5 75.15 74.5 74.5 74.5 74.5 890 66,305 SMC PREF 2I 80 80.8 80 80.5 80 80.5 5,000 402,000 SMC PREF 2N SMC PREF 2O 80 81 81.5 81.5 79.15 81 6,070 483,811 800 75.1 77 80 80 77 77 50 3,910 -1,600 SMC PREF 2P SMC PREF 2Q 73.8 77.8 77.8 77.8 77.8 77.8 10 778 -778 76 77 76 77.5 76 77.5 20 1,535 SMC PREF 2R SMC PREF 2S 77.8 77.9 77.8 77.8 77.8 77.8 20 1,556 76.5 79.5 76.5 76.5 76.5 76.5 10 765 SMC PREF 2T 76 77.4 77 77.3 76 76 2,660 203,263 -38,400 SMC PREF 2U TECH PREF B2C 12.16 12.96 13 13 13 13 1,100 14,300 8.26 8.38 8.25 8.26 8.25 8.26 800 6,602 TECH PREF B2D VLL PREF 2A 85.25 91.95 90.6 91.95 90.6 91.95 50 4,544.50 90 91.65 91.75 91.75 90 90 1,550 141,900.50 VLL PREF 2B

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.41 4.46 5.29 5.32 5.28 5.29 5.28 5.29 27,800 147,050 1.15

SMALL, MEDIUM & EMERGING

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH LFM PROP MERRYMART XURPAS NEXGEN ENERGY

0.345 0.36 1.06 0.84 1.19 0.039 0.39 0.24 3.03

1.17

1.17

1.24

1.11

1.17

3,941,000

4,617,720

-21,600

0.35 0.38 1.08 0.87 1.36 0.041 0.4 0.248 3.18

0.36 0.37 1.08 0.84 1.19 0.041 0.4 0.24 3.17

0.36 0.37 1.1 0.87 1.19 0.041 0.4 0.248 3.18

0.325 0.36 1.08 0.84 1.19 0.041 0.39 0.237 3.17

0.35 0.36 1.1 0.87 1.19 0.041 0.4 0.248 3.18

410,000 400,000 324,000 29,000 2,000 100,000 100,000 240,000 6,000

138,100 147,650 353,650 24,390 2,380 4,100 39,700 57,440 19,050

7,350 -9,510

EXHANGE TRADE FUNDS FIRST METRO ETF

100.2

-

101

99 101 98 101 30,870 3,094,856 -110,907

www.businessmirror.com.ph

MGen aims to start building Cebu coal power plant in Q1

By Lorenz S. Marasigan

M

@lorenzmarasigan

ERALCO PowerGen Corp.

(MGen) is targeting to break ground on its 73-megawatt coal-fired power plant in Toledo, Cebu within the first quarter of 2026, according to a ranking official.

Emmanuel Rubio, the company’s president, said the project represents the bulk of MGen’s capital expenditure plans for the year, with approximately P1 billion allocated for 2026 alone.

“Most of the capex would be for Toledo, which we expect to break ground by the first quarter,” Rubio

said. He noted that the total project cost is estimated at around $150 million.

Last year, the Toledo Power Corp. facility secured confirmation from the Department of Energy (DOE) that it is exempted from the government’s coal moratorium policy.

Construction is expected to

Stocks close out 3rd year of gains on down note

S

TOCKS and bonds slipped along with gold and silver on the last day of 2025, ending an otherwise buoyant year on a lackluster note.

The S&P 500 extended a stretch of post-Christmas losses, paring the benchmark’s advance for 2025 to roughly 16 percent. The Nasdaq 100 was down 0.8 percent on Wednesday, its fourth day of losses. Even so, both indexes have posted double digit gains for three consecutive years, notching their longest winning streak since 2021.

Gold and silver fell at the end of their best year since the 1970s. CME Group raised margin requirements on precious-metal futures for the second time in the space of a week following the recent bout of heightened volatility.

Investors, this year, have enjoyed blockbuster returns in a market that has been powered by optimism about the vast economic potential of artificial intelligence and primed by Federal Reserve interest-rate cuts. It hasn’t been a smooth ride, though, with traders weathering swings triggered by a range of forces including US trade policies, geopolitical tensions, concerns over lofty valuations and some uncertainty around the path of central-bank monetary policy.

“Describing 2025 as ‘resilient’ might be an understatement,” said Adam Turnquist, chief technical strategist for LPL Financial.

“The economy showed remarkable strength by overcoming higher inflation, a slowing labor market, fewer rate cuts than originally expected, and a sharp rise in the effective tariff rate. Despite these challenges, growth remained steady without slipping into recession.”

Looking ahead into 2026, market

research firm Bespoke Investment Group cautions against expecting solid market performance during the first trading day of the new year.

Since 1953, the S&P 500’s median change to kick off a new year has been a 0.3 percent drop, with gains less than half the time, according to a note by Bespoke. The stock market has also traded lower on the first trading day of the each of the past three years, the note said.

Beyond stocks

AMONG other asset classes, US Treasuries posted their strongest year of returns since 2020. On Wednesday, Treasuries ticked lower, with the 10-year yield climbing to 4.17 percent.

There was little market movement even after the release of US jobless claims data on Wednesday.

Applications for US unemployment benefits fell last week to one of the lowest levels this year. Initial claims decreased by 16,000 to 199,000 in the week ended December 27, according to Labor Department data released Wednesday. The median forecast in a Bloomberg survey of economists called for 218,000 applications.

“2025 was the year when diversification finally paid off. Equities delivered, but metals took the crown on erosion of confidence and a repricing of policy risk,” said Brendan Fagan, macro strategist.

Copper had its best year since 2009, fueled by near-term supply tightness and bets that demand for the metal key in electrification will outpace production. Oil closed out the year with its steepest annual loss since 2020 as the market confronts wide-ranging geopolitical risks and steadily rising supplies across the globe. Bloomberg News

US labor board abandons case vs Musk’s SpaceX Continued from B1

SpaceX didn’t respond to requests for comment.

Musk was the largest single financial contributor in the 2024 election, with almost all of his spending supporting Trump, and his Department of Government Efficiency played a key role in Trump’s first year in office. The two men had a fierce split earlier this year, but those tensions have thawed since, with

Musk attending a November gala dinner at the White House to honor Saudi Crown Prince Mohammed bin Salman.

In May, a three-judge panel granted a request from the government and the company to pause proceedings in SpaceX’s other lawsuit against the labor board while the NLRB seeks input from the National Mediation Board, which oversees railways and airlines, about whether that agency has jurisdiction over SpaceX rather than the NLRB. Bloomberg News

be completed in three years, with operations targeted for October 2028.

The plant’s entire 73-MW net output will be purchased by MGen’s retail electricity supplier arm, MGen RES. MGen has already received bid offers from Chinese engineering, procurement, and construction contractors to proceed with the coalfired facility.

Separately, MGen’s Toledo Energy Development Corp. unit is developing a battery energy storage system (BESS) project in the area.

It has signed engineering, procurement, and construction contracts with Chinese firms Contemporary Amperex Technology Co., Limited (CATL) and SUMEC Complete Equipment and Engineering Co. Ltd. for the BESS development deal.

MUTUAL FUNDS

The Toledo BESS project has a total planned capacity of 49 MW, with an initial 25-MW or 40-megawatt-hour capacity targeted for completion in the first quarter of 2026.

The balance is scheduled for completion in 2027. The project, estimated to cost around P700 million, aims to improve grid stability in the Visayas region.

The company announced last month that it is undertaking its first solar power project in Iloilo with its partner, Saudi Arabia-based energy developer ACWA Power.

“We are looking at land in Concepcion, Iloilo. That’s our first project with them. They’re also eyeing land on their own. The first project with them is solar in Iloilo. We already signed contract to sell around 120 hectares,” said Rubio.

December 29, 2025

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A214.77 -2.5% 1.07% -1.08% -1.39% -2.09% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.1534 19.95% 17.39% 10.47% 6.29% 18.64% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.861 -4.35% -0.56% -1.77% -2.44%-4.11% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7535 1.4% 2.97% -1.21% N.A5.61% FIRST METRO CONSUMER FUND, INC. -A 0.5546 -12.25% -5.03% -5.64% N.A -13.02% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.383 -5.73% -1.87% -2.33% -1.84% -5.61% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6433 -7.21% -2.85% -3.26% N.A-7.24% MBG EQUITY INVESTMENT FUND, INC. -A 88.64 24.7% 5.7% -2.52% N.A 24.64% PAMI EQUITY INDEX FUND, INC. -A 41.4539 -5.33% -1.36% -2.37% -1.21% -5.18% PHILAM STRATEGIC GROWTH FUND, INC. -A 451.09 -2.82% 0.56% -1.56% -1.16% -2.42% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.554 12.13% 10.06% 5.98% 2.82% 11.45% PHILEQUITY FUND, INC. -A34.5251 -1.64% 1.26% -0.04% 0.18% -1.47% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.8941 0.1% 1.81% -0.35% N.A 0.89% PHILEQUITY PSE INDEX FUND, INC. -A 4.4801 -3.47% -0.12% -1.29% -0.32% -3.31% PHILIPPINE STOCK INDEX FUND CORP. -A736.55 -4.48% -0.56% -1.63% -0.55% -4.35% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7047 -1.32% 1.64% -0.39% -1.94% -1.12% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2174 -8.16% -1.49% -2.33% -1.76%-7.94% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8258 -5.45% -1.04% -2.04% -0.81%-5.32% UNITED FUND, INC. -A3.25522.52% 1.71% -0.37% 0.33% 2.91% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0353 -4.47% -0.66% N.A N.A -4.31% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0451 -1.13% N.A N.A N.A -0.94% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9482 -7.86% -3% -2.6% N.A -8.55% PHILIPPINE STOCK INDEX FUND CORP. -A888.39 -5.16% -0.78% N.A N.A -5.04% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 100.2245 -4.9% -0.3% -1.35% -0.04%-4.77% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0118 20.57% 5.67% -3.12% 1.25% 21.86% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.2183 14.04% 15.97% 5.85% N.A 15.19% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) 0.8% -1.2% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1456 0.44% 0.04% 0.65% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.6403 4.63% 3.33% -0.31% -0.6%5.14% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.4635 -2.2% -0.5% -1.25% -0.87%-2.07% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2305 6.07% 6.3% 3.06% N.A6.22% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.0031 0.62% 0.95% 0.4% 1.12% -0.44% PAMI HORIZON FUND, INC. -A3.7949 2.53% 3.34% 0.06% 0.62% 2.84% PHILAM FUND, INC. -A16.0313-0.89% 1.97% -1.07% 0.02% -0.67% SOLIDARITAS FUND, INC. -A2.106 -0.24% 1.96% 0.13% 0.51% 0.15% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4411 -1.74% 1.14% -0.7% -0.45% -1.51% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9124 -1.79% 1.31% 0.56% -0.18% -1.6% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.979 1.61% 2.28% -0.85% N.A 1.61% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8432 -2.12% 0.31% -2.3% N.A -2.03% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8122 -3.69% -0.4% -2.7% N.A -3.55% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03431 6.32% 1.92% -2.6% -0.31% 6.88% PAMI ASIA BALANCED FUND, INC. -B $1.2036 10.14% 1.05% 3.11% 23.71% 24.08% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.3255 11.58% 11.45% 3.42% 5.51%12.34% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1817 8.46% 6.68% 0.3% N.A 8.81% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A419.7 4.12% 3.58% 2.5% 2.66% 4.13% ATRAM CORPORATE BOND FUND, INC. -A 1.958 2.74% 1.45% 0.6% 0.31% 2.71% COCOLIFE FIXED INCOME FUND, INC. -A 3.5812 3.23% 3.7% 2.19% 3.49% 3.27% EKKLESIA MUTUAL FUND, INC. -A 2.4539 3.71% 4.05% 1.34% 1.87% 3.93% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5696 3.06% 2.42% 0.94% 1.54%3.15% PHILAM BOND FUND, INC. -A4.6074 3.53% 3.48% -0.11% 1.47% 3.77% PHILAM MANAGED INCOME FUND, INC. -A 1.5212 4.88% 4.85% 2.86% 2.77% 4.91% PHILEQUITY PESO BOND FUND, INC. -A 4.3158 3.7% 3.7% 1.53% 2.18% 3.77% SOLDIVO BOND FUND, INC. -A1.1208 4.03% 3.29% 1.48% 2.03% 4.09% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.5515 3.71% 4.08% 2.1% 2.77% 3.85% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8851 3.58% 3.56% 1.45% 2.15% 3.7% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $528.75 3.66% 3.28% 1.79% 2.37% 3.57% ALFM EURO BOND FUND, INC. -AЄ223.68 2.1% 2.18% 0.41% 0.82% 2.13% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0751 3.67% 2.08% -3.43% -0.17% 3.61% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0265 6% 3.65% -0.08% 0.87%6% PAMI GLOBAL BOND FUND, INC. -B $1.0593 22.75% 6.93% -0.62% 0.09% 23.17% PHILAM DOLLAR BOND FUND, INC. -A $2.4787 6.81% 4.37% -0.44% 1.63% 6.84% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0644113 3.54% 2.41% 0.63% 1.51% 3.52% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9291 6.88% 2.4% -1.89% 0.32%6.59% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1659 3.08% N.A N.A N.A 3.05% ALFM MONEY MARKET FUND, INC. -A 148.7 4.45% 3.72% 2.76% 2.67% 4.37% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.1971 3.89% 3.71% 2.7% N.A 3.72% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.4809 3.92% 3.44% 2.7% 2.65% 3.86% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 113.86 4.35% 4.27% N.A N.A 4.26% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1761 3.08% 3.21% 2.25% N.A 3.03% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 46.1055 3.36% 2.02% N.A N.A 3.83% SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.1646 21.4% 20.4% 14.21% N.A22.97% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1091 4.92% N.A N.A N.A 5.53% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8158 2.41% 0.82% -3.6% N.A 3.27%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE.

1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH.

* THE FIRST TRANCHE (CORPORATE DEBT FUND 1) OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. MATURED ON MAY 25, 2025.

“While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU.”

www.news.businessmirror@gmail.com

Banking&Finance

Pagcor imposes fees on accredited GSAs

By Reine Juvierre Alberto @reine_alberto

A

LL accredited gaming system administrators (GSAs) will be required to pay a minimum guaranteed fee (MGF) per month by the Philippine Amusement and Gaming Corporation (Pagcor) to ensure fair contributions to national revenue and promote transparency in the gaming industry.

In a memorandum, the gaming regulator said GSAs with a minimum monthly gross gaming revenue (GGR) of P30 million will pay an MGF of P9 million from April to September 2026.

GSAs without electronic casino games will pay P3 million if their monthly GGR reaches P5 million.

During the second tranche, or from October 1 onwards, GSAs with electronic casino games must pay P10.5 million if their GGR is at least P35 million.

Those without electronic casino games must pay P4 million should their GGR reach at least P20 million.

According to Pagcor, GSAs will be assessed the higher of the prescribed MGF or the applicable percentagebased license fee or Pagcor share.

GSAs found offering electronic casino games without prior declaration may face administrative penalties or

cancellation of accreditation.

For newly accredited GSAs, a sixmonth grace period will be granted to commence operations, while existing GSAs without a Notice to Commence Operations will have two months.

Pagcor said that upon lapse of this period, the MGF will be imposed regardless of operational status.

GSAs that fail to remit the MGF on time will face a 12 percent annual interest and automatic deduction of the corresponding amount from their performance cash deposit on the 20th day of the month.

Moreover, failure to meet the prescribed minimum GGR for five cumulative months will trigger a final warning and a review of the GSA’s suitability for accreditation.

The new policy was approved by Pagcor’s Board of Directors in its meeting on December 4, 2025.

Pagcor said this aims to close gaps in the current fee structure while “upholding fairness, accountability and fiscal responsibility.”

“The introduction of an MGF per month is a timely and necessary reform that will ensure all accredited GSA contribute equitably to national revenue, promote active and transparent operations, and reinforce the government’s commitment to a sustainable, accountable, and integritydriven gaming industry,” Pagcor said.

Gold, silver stumble at the end of best year since ’70s

G

OLD and silver fell on the last trading day of 2025, though both remained on track for the biggest annual gain in more than four decades as a banner year for precious metals drew to a close.

Spot gold hovered around $4,320 an ounce, while silver slid toward $71. The two have seen exceptional vola- A 400 ounce gold bar at the Perth Mint Refinery, operated by tility in thin post-holiday Gold Corp., in Perth, Australia. trading, plunging Monday PHOTOGRAPHER: MATT JELONEK/BLOOMBERG before recovering Tuesday and dropping again Wednesday. The $80 earlier this week—in part rebig swings prompted exchange opflecting elevated buying in China. erator CME Group to raise margin Yet the latest move swiftly rerequirements twice. versed, with the market closing down Both metals are on track for their 9 percent Monday then swinging the best year since 1979, supported by following two days. In response to strong demand for haven assets amid the extreme volatility, CME Group mounting geopolitical risks and by again raised margins on preciousinterest-rate cuts by the US Federal metal futures, meaning traders must Reserve. The so-called debasement put up more cash to keep their positrade — triggered by fears of inflations open. Some speculators may be tion and swelling debt burdens in forced to shrink or exit their trades developed economies — has helped —weighing on prices. supercharge the scorching rally.

“The key driver today is the In gold, the bigger market by CME raising margins for the second far, those factors spurred a rush time in just a few days,” said Ross by investors into bullion-backed Norman, chief executive officer of exchange-traded funds, while cenMetals Daily, a pricing and analysis tral banks extended a years-long website. The higher collateral rebuying spree. quirements are “cooling the markets Gold is up about 63 percent this off,” he said. year. In September, it eclipsed an inflation-adjusted peak set 45 years Platinum, palladium ago—a time when US currency THE enthusiasm for gold and silver pressures, spiking inflation and an has extended into the wider precious unfolding recession pushed prices metals complex in 2025, with platito $850. This time around, the renum breaking out of a years-long cord run saw prices smash through holding pattern to hit a new high. $4,000 in early October.

The metal is on course for a third “In my career, it’s unprecedented,” annual deficit, following disrupsaid John Reade, a market veteran tions in major producer South Afand chief strategist at the World rica, and supply will likely remain Gold Council. “Unprecedented by the tight until there’s clarity on whether number of new all-time highs, and the Trump administration will imunprecedented in the performance pose tariffs. of gold exceeding the expectations Prices for silver, platinum and of so many people by so much.” palladium all sagged Wednesday, Silver has notched up a gain of though there’s little sign of enthumore than 140 percent during the siasm waning. year, driven by speculative buying The year’s “surprise was how but also by industrial demand. The safe-haven metals turned into metal is used extensively in electronmomentum trades—silver in parics, solar panels and electric cars. In ticular,” said Charu Chanana, chief October, it soared to a record as tariff market strategist at Saxo Markets concerns drove imports into the US, in Singapore. tightening the London market and Silver traded down 7.1 percent triggering a historic squeeze. at $70.83 an ounce as of 3:20 p.m.

The new peak was then passed in New York. Gold slipped 0.5 perthe following month as US rate cuts cent to $4,317.41 an ounce, while the Bloomberg Dollar Spot Index and speculative fervor drove prices was up little-changed. Bloomberg News higher. The rally topped out above

BusinessMirror

Editor: Dennis D. Estopace • Friday, January 2, 2026

B3

'SEC must track compliance with new interest rate caps'

T

By Rizal Raoul S. Reyes

@brownindio

HE Securities and Exchange Commission (SEC) must closely monitor the compliance of lending companies with its new memorandum circular on interest rate caps, according to a consumer group.

PHOTO from the Facebook page of the Securities and Exchange Commission.

CitizenWatch Philippines said the “real test” of the policy is whether small loans will remain accessible to ordinary borrowers in the months ahead.

It said regulators should closely track the impact of the new interest rate cap for loans of P10,000 and below. Specifically, it expressed concern that lenders might react by restricting credit, pulling products from the market, or shifting focus away from small borrowers.

“Regulation does not end with issuance. It begins there,” said Orlando Oxales, lead convenor of CitizenWatch Philippines. “The critical question now is how the industry adjusts, and whether borrowers on the margins will still be able to access small, short-term loans through

offerings, tighten approvals, or stop serving higher-risk borrowers, the policy may unintentionally reduce access rather than improve outcomes.”

The group observed that a huge number of the loans issued by licensed digital lenders in the Philippines fall below P10,000, making the segment particularly sensitive to regulatory changes. Even modest shifts in pricing rules can influence whether products remain viable, especially for borrowers without formal income documents or collateral.

CitizenWatch urged the SEC to monitor post-implementation indicators—specifically approval rates, loan volumes, average sizes, and product withdrawals—to gauge the circular’s impact.

“These are measurable signals,” Oxales said. “If we see declining

formal channels.”

Under the SEC memorandum circular, lenders are required to observe a 6-percent monthly nominal interest rate cap and a 10-percent monthly effective interest rate ceiling on small unsecured loans, inclusive of most charges. The policy is intended to strengthen consumer protection and curb abusive lending practices.

CitizenWatch said it supports the goal of protecting borrowers, but stressed that close, data-driven monitoring is needed to detect early warning signs of unintended effects.

“Small loans are not the same as larger consumer loans. They involve higher risk, higher servicing costs, and shorter repayment periods,” Oxales said. “If compliance leads lenders to quietly pull back on small-loan

approvals for small loans, longer processing times, or the disappearance of certain products, regulators should treat that as red flags that prompt immediate reassessment and remedy.”

The group also recommended that the SEC engage regularly with lenders, and micro-borrowers to understand and learn how compliance is unfolding on the ground.

“Policy works best when regulators listen not just to complaints, but to patterns,” Oxales said. “Are borrowers being offered fewer options? Are lenders shifting to larger loans only?”

CitizenWatch said protecting consumers requires both strong rules and continuous oversight.

“Consumer protection is achieved by making sure rules deliver real benefits without closing the door on legitimate credit.”

The group said it hopes the SEC will take a flexible, evidence-based approach in response to the adjustments in the market.

“We urge the Commission to watch closely, respond quickly, and remain open to refinements if access to small loans starts to shrink,” Oxales said. “The goal should be protection with access, not protection that unintentionally leaves borrowers victims to loan sharks.”

Trump firm to start new cryptocurrency for shareholders

T

RUMP Media and Technology Group Corp. plans to issue a new cryptocurrency, which will be distributed among its shareholders.

The company, which operates President Donald Trump’s Truth Social platform, said the new token will be allocated to investors in a partnership with crypto exchange Crypto.com, according to a statement Wednesday. It is expected to operate on the Cronos blockchain, a network supported by Crypto.com.

The coin is the latest in a string of cryptocurrencies attached to Trump.

World Liberty Financial, a decentralized finance project supported by the Trump family, operates the WLFI token and the USD1 stablecoin.

The president also released his own TRUMP memecoin earlier this year, alongside a similar coin promoted by

his wife, Melania.

TRUMP is down 93 percent since hitting a peak on January 19, while MELANIA is down 99 percent since its all-time high on January 20.

Each of Trump Media’s shareholders will receive one token per share, the company said. Trump himself is the company’s largest shareholder with a 41-percent stake in the business, according to data compiled by Bloomberg.

His return to the White House in January brought about a more favorable regulatory environment for crypto businesses, with new legislation passed to oversee parts of the sector in the summer. A number of enforcement cases against crypto companies have been paused or dropped by regulators.

“We look forward to utilizing Crypto.com’s blockchain technol-

Dollar posts worst year since 2017 with more Fed rate cuts expected

T

HE dollar ended 2025 with the sharpest annual retreat in eight years and investors say more declines are coming if the next Federal Reserve chief opts for deeper interest-rate cuts as anticipated.

The Bloomberg Dollar Spot Index fell about 8 percent this year and traders are betting on further weakness. After tumbling in the wake of President Donald Trump’s tariff rollout in April, the greenback failed to rebound much in part on expectations that Trump will name a dovish successor to Fed Chair Jerome Powell, whose term ends next year.

“The biggest factor for the dollar in first quarter will be the Fed,” said Yusuke Miyairi, a foreignexchange strategist at Nomura.

“And it’s not just the meetings in January and March, but who will be the Fed chair after Jerome Powell ends his term.”

With at least two rate reductions priced in for next year, the Fed’s policy path diverges from some of its developed peers, dimming the dollar’s appeal. Traders raised their bearish dollar wagers in the week through December 23, according to Commodity Futures Trading Commission data reported Wednesday. Options

pointed to further dollar weakness in January with some moderation in the following months.

The euro has surged against the greenback as benign inflation and a coming wave of European defense spending keep rate-cut bets in the euro region close to zero. In Canada, Sweden and Australia, meanwhile, traders are wagering on hikes.

The dollar gauge was little changed Wednesday after rising as much as 0.2 percent earlier as Labor Department data showed applications for US unemployment benefits fell last week to one of the lowest levels this year. The greenback index fell 1.2 percent in December.

Trump recently teased that he has a preferred candidate to succeed Powell, but is in no hurry to make an announcement—while also musing that he might fire the central bank’s current leader.

National Economic Council Director Kevin Hassett has long been seen as the leading candidate, while Trump also expressed interest in former Fed Governor Kevin Warsh. Fed Governors Christopher Waller and Michelle Bowman and BlackRock’s Rick Rieder are also seen as being in the running. Bloomberg News

THE Truth Social app on a smartphone arranged in the Queens borough of New York, US, on March 22, 2024. PHOTOGRAPHER: GABBY JONES/BLOOMBERG

ogy and improving regulatory clarity to implement this first-of-its kind token distribution, reward Trump

Media shareholders, and promote fair and transparent markets,” said Trump Media Chief Executive Officer Devin Nunes.

The token would be yet another venture for the social media company, which has unveiled plans for a wide array of new business lines this year—including nuclear fusion, stockpiling other cryptocurrencies, offering financial products and setting up markets for sports wagering.

Token holders may receive additional rewards, the company added, such as benefits or discounts tied to Trump Media products. The coins won’t represent ownership of DJT shares, and may not be transferable or exchanged for cash.

The company’s stock was up about 3.3 percent in pre-market trading Wednesday. Bloomberg News

SNB refrained from currency interventions in 3rd quarter

T

HE Swiss Na6tional Bank (SNB) largely kept out of currency markets in the third quarter, avoiding interventions after Donald Trump’s tariffs had forced officials to sell francs in the previous period.

The SNB bought foreign exchange worth just 75 million francs ($95 million) in the three months through September, according to data published on Wednesday.

That’s in line with the level of interventions made by Switzerland’s central bank during an effective 15-month hiatus in market interactions through March. After Trump’s tariff onslaught in the spring, the SNB then pushed some 5 billion francs into circulation to mitigate a surge of the haven currency.

The SNB publishes a tally of its transactions on a quarterly basis with a three-month delay. That keeps observers and markets guessing on possible interventions.

Economists at UBS estimate that policymakers refrained from meaningful market moves to weaken the franc since the reaction to Trump’s levies in April and through November, even when the currency reached a decade high against the euro last month.

“While this indicates that the

SNB is not overly concerned about the strength of the Swiss franc, we would not rule out FX purchases by the SNB should the franc appreciate excessively,” said Florian Germanier.

The inaction is in line with a new doctrine of more judicious confrontations with traders the central bank has adopted. A previous peak of the franc’s exchange rate in October also didn’t trigger interventions.

In the third quarter, the Swiss currency was essentially flat against both the euro and the dollar. During 2025 as a whole, the franc rose 14.42 percent against the dollar and 0.949 percent against the euro.

For SNB monetary policy, the gains against the European currency are more important, as Switzerland trades more with the euro area than with the US. A strong franc also weighs on Swiss inflation as it depresses import prices.

Policymakers led by President Martin Schlegel maintain that they stand ready to use interventions — in both directions — to keep consumerprice growth from overshooting or undershooting. After they cut interest rates to zero in June and showed that they apply a high bar to going below that, market action could take a more prominent role in their toolkit going forward. Bloomberg News

B4

Relationships

Friday, January 2, 2026 • Editor: Gerard S. Ramos

BusinessMirror

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

TODAY’S HOROSCOPE

❶ THE new

charity ward of St. Luke’s-QC is a 40-bed facility in the hospital’s wing.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kate Bosworth, 43; Dax Shepard, 51; Taye Diggs, 55; Cuba Gooding Jr., 58.

❷ A WAITING

room for patients and their companions

HAPPY BIRTHDAY: An emotional shift is underway in how you see yourself and your direction. A change of scenery or residence or in how you use your space and time requires more thought, along with baby steps that remain within your comfort zone as you blend into your surroundings. A new look, a change of heart and financial correction will serve a purpose and offer comfort. Your numbers are 7, 15, 22, 31, 34, 45, 49.

ARIES (March 21-April 19): Take a breather. Examine

❶

❷

St. Luke’s makes room for compassionate care THE Evelyn D. Ang “Dana” Ward was recently opened to the public at St. Luke’s Medical Center in Quezon City. From left are: QC Vice Mayor Gian Carlo Sotto, Evelyn D. Ang Scholarships and Charities Inc. executive vice president Carmina O. Ang, SLMC vice chairman Atty. Cirilo P. Noel, SLMC president and CEO Dr. Dennis P. Serrano, NI Capital Corp. chairman Philip T. Ang, SLMC Foundation Inc. president Dr. Benjamin S.A. Campomanes Jr. PHOTOS FROM SLMC

your situation at home and at work, and consider the improvements you can implement that can make your life easier. You’ll discover how you can use the system, grants or offers to reposition something you do well in a more rewarding direction or atmosphere. An open discussion will be revealing. ★★

TAURUS (April 20-May 20): Talk matters through rather than stewing over what’s brewing. Have a solution and a backup plan in place to ease your mind. Preparation is the way forward, and adhering to rules, regulations and proper protocols will ensure you meet your comfort zone. Make plans with someone you love, and share your intentions and long-term goals. ★★★★

GEMINI (May 21-June 20): Take pride in what

you do and how you look. An energetic approach to health and looking your best will enhance your confidence. Discuss shared expenses or a shared space with someone you feel comfortable with, and you will find a way to lower your overhead. ★★★

CANCER (June 21-July 22): You’ll get much farther

if you choose to use charm over criticism. Show compassion, concern and, if possible, hands-on help. Your kind gestures will win you favors when you need something in return. Put a little extra effort into whatever job you do, and you’ll gain respect and rewards. ★★★

L

ET’S face it. No one can afford to be sick these days.

Rich or poor, we all have to deal with the high cost of pharmaceutical drugs even to treat common illnesses likes cough and colds (check out the price of Kamillosan nasal spray), antibiotics, and common lifestyle diseases like diabetes and high cholesterol.

What more if we need to go to the hospital?

I remember my mother being hospitalized for complications from a blocked bile duct and even though we used a government hospital, all the fees for her medical exams, scans, doctors (she had three), and her room itself were so high that I thought she deserved at least three corner pillars to be named after her in the new building the hospital was constructing. And this was after the expenses were deducted from PhilHealth contributions!

So it is welcome news that as the New Year unfolds, a prestigious private hospital such as St. Luke’s Medical Center (SLMC) in Quezon City has finally opened a charity ward, expanding its capacity to care not merely for those who can afford the finest hospitals, but for all Filipinos in need of quality treatment. SLMC, after all, has long been a pillar of Filipino healthcare, a symbol of world-class medical service where excellence meets compassion. The newly created Evelyn D. Ang/Dāna Charity Ward honors the late Evelyn D. Ang, a philanthropist and wife of businessman Philip T. Ang. Known for his investments and leadership in the mining and finance industries, Ang’s generous donation paved the way for the charity ward, recognizing his wife’s deep compassion toward the sick and marginalized. Her legacy of generosity and sincere heart for those in need, inspires SLMC to provide exceptional medical care to a large number of Filipinos who cannot afford to be hospitalized.

The charity ward is a 40-bed facility, fully integrated within St. Luke’s hospital operations, and offers exceptional care to indigent patients at no cost.

Strategically designed to operate seamlessly with the

LEO (July 23-Aug. 22): Put your head down and get whatever job you have lined up for today out of the way. Keeping busy will help you shed any emotional baggage that’s weighing you down. Getting back to basics will give you time to reflect on how you feel and what changes you can make to lift your spirits. ★★★

VIRGO (Aug. 23-Sept. 22): Seize the moment,

share your thoughts, network, gather information and consider all your options. Show enthusiasm and make a commitment that will bring you closer to someone special. Social events will turn out to be better than anticipated and lead to worthwhile connections. Don’t hold back; if you want something, ask. Romance is in the stars. ★★★★

hospital’s medical teams and technology, the Dāna Ward ensures that all patients receive the same high standard of care as private services.

“The same specialists, nurses and clinical teams who serve private patients are also attending to charity patients,” said Dr. Benjamin Campomanes Jr., president of the SLMC Foundation Inc. “This guarantees the same standard of quality, compassion and safety across every case. Because here at St. Luke’s, every patient matters.”

Equity, compassion and social responsibility are equally central to SLMCFI’s mission. Over the years, the foundation has supported a wide array of initiatives: from providing critical treatments for indigent patients, to funding scholarships for aspiring medical doctors, to delivering community health programs that bring preventive care to underserved neighborhoods. Each of these initiatives reflects a conscious strategy of making sure that healthcare is not only about curing diseases but about uplifting communities, expanding access, and nurturing a culture of shared responsibility.

“The reality in many poor provinces is deeply depressing,” said Campomanes. “In some communities, a single doctor may only be able to visit once every two weeks, leaving an almost impossible backlog of patients. During our medical missions, we routinely treat 60 to 70 patients over a four- or fiveday period, which underscores the sheer magnitude of unmet healthcare needs outside major cities.”

He recalled that last year, “a generous donor reached out to us saying they wanted to support our mission, and from that single act of giving, a chain of generosity began. We started planning, collaborating with donors, and creating a space where patients could receive care with dignity and compassion. This

is how the Evelyn D. Ang/Dāna Charity Ward came to be, a testament to how generosity inspires more generosity, touching countless lives along the way.”

The ward’s name, Dāna, is Sanskrit for “selfless giving,” symbolizing the program’s focus on sustained, institutionalized generosity that turns kindness into tangible, long-term healthcare impact.

Evelyn’s niece, Carmina O. Ang, recalled how her aunt lived a life of purpose, always doing what was right for those with the least means. “She supported cancer patients who could not afford treatment, organized feeding programs for children, provided medicines to families in need, and responded immediately to disaster relief efforts. Perhaps most notably, she offered help quietly, without expecting anything in return. Through the Evelyn D. Ang/Dāna Charity Ward, her legacy continues providing care with dignity, empathy, and the highest standard of excellence.“ Moreover, it is a model of how generosity, when institutionalized, can produce systemic impact.

The Dāna Ward is not a one-off gesture but part of a long-term vision to make excellence in healthcare universally accessible, providing both treatment and dignity to those who might otherwise go without.

The Dāna Ward embodies the philosophy of service, ensuring that top-tier care is compassionate, inclusive and accessible to all Filipino patients.

“Service is the rent we pay for our stay in this world. It is the very purpose of life, and not merely something we do in our spare time,” underscored Dr. Dennis Serrano, SLMC president and chief executive officer.

“Service is the core of St. Luke’s. That is why, when this project was entrusted to us by God and all the

LIBRA (Sept. 23-Oct. 22): You’ll be walking a tightrope when dealing with conflict. Don’t start something you cannot finish. Be a good listener and retreat. Give yourself a chance to digest what’s developing.

Look for ways to compensate for any complaints that surface.

Keep situations in perspective and your emotions under control. Busy yourself with self- or home improvements. ★★

SCORPIO (Oct. 23-Nov. 21): Sign up for whatever

motivates you to expand your interests or challenges you to strive for personal growth, love or a lifestyle change. You have more options than you realize, and putting yourself in unique scenarios will spark your imagination and supercharge you to chase your dreams. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Review your finances and budget for something you want to pursue. Be careful not to exaggerate or give someone a false impression regarding how you feel or what your intentions are. Sincerity and honesty are the best ways to deal with any touchy situation. Avoid joint ventures or shared expenses. Emotional manipulation is apparent. ★★★

CAPRICORN (Dec. 22-Jan. 19): You need to give more thought to how you promote and use your skills. A change is necessary if you don’t want to get left behind.

Forward thinking is a must and will help you attract input from those striving to meet current demands. A lifestyle change will help you broaden your vision and recognize new possibilities. ★★★

AQUARIUS (Jan. 20-Feb. 18): Keep your thoughts to yourself until you have a chance to look at every angle and determine your best move. It’s necessary to have a clear outcome before sharing your plans with someone you want to support. A change to your lifestyle or residence will require your physical and financial input.

Emotions will be difficult to control. ★★★

PISCES (Feb. 19-March 20): Take part in events

that allow you to use your skills, experience and knowledge to your advantage. Your contribution will be noticed and will lead to an introduction to someone who has plenty in common with you. Keep the momentum going by setting dates for future get-togethers. Domestic plans will gain support. Set a tight budget. ★★★★★

SEE “ST. LUKE’S,” B5

BIRTHDAY BABY:

You are insightful, gracious and astute.

You are productive and persistent.

‘beyond the surface’ BY JAKE HALPERIN

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 “Unfortunately...”

5 Wash yourself 10 Nickname for Mariah Carey 14 Himalayan dumpling 15 Grooming gadget brand 16 Flock females 17 Toy block that anyone can play with?

19 Swearing-in promise 20 Italy’s catwalk capital 21 Install as a monarch 23 Feudal underlings 25 Intense anger 26 Eden’s peak population 29 Pharaoh’s romantic spot?

32 Juvenile jackal 35 Norwegian saint 36 Colorado Plateau tribe 37 Tube for sipping 39 See 38-Down 41 Books for a gig 42 Foot’s posterior 43 Cub-guarding bear 45 Winter hrs. in Delaware 46 Snowball?

51 Console that got gamers moving 52 Athletes who aren’t amateurs 53 Messy piles 56 Affectless 58 Arrange, as a shawl 60 From the beginning 62 Like confirmed plans...and the ends of the starred clues’ answers?

66 Spot for subs and clubs 67 Snake with a hood 68 The ___ Duckling 69 Homeric river 70 Child star Mary-Kate or Ashley 71 “I’d say we should” DOWN 1 Before/after noon letters 2 ___ Vuitton 3 Walk slowly 4 With 9-Down, power whose source goes down regularly 5 UK TV network 6 Protagonist’s path 7 T, in Greek 8 Wheel’s “outerwear” 9 See 4-Down

10 Whine from Whiskers 11 Greedy demand 12 NYC MLB player 13 “Somewhat” 18 Money coming your way 22 Poetic “farther up than” 24 Note between fa and la 25 Overhauls 27 Cleans with a cloth 28 Praiseful poet 30 Grape stomping container 31 Yellowfin tuna 32 Scoffing exclamation 33 Fetuses’ habitats 34 “You hit the nail on the head” 38 With 39-Across, window-hopping key combo 40 “___! Humbug!”

41 Like Hasidic or Yeshivish Jews 44 Not bad enough to pan 47 Stk. mkt. debut 48 Big name in shortening 49 “Mind-blowing!”

50 Scolding lecture 54 Satchel who wrote “Pitchin’ Man”

55 Ancient wheat 57 Candy bar with a gold wrapper 59 Dreyer’s, by another name 60 “Words from our sponsors” 61 Opposite of gross 63 Nonmetric mass units: Abbr.

64 Intense anger 65 Aykroyd of My Girl

Solution to today’s puzzle:

Show BusinessMirror

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

Editor: Gerard S. Ramos • Friday, January 2, 2026

B5

Janus Films is introducing ‘Magellan’ that favors extended theatrical and institutional life over opening-week velocity SIGNS OF THE TIMES

THE businesswoman is known for her generosity.

In fact, her Christmas gifts are much awaited by friends and business contacts because they are always extravagant and festive. This year was different. The businesswoman’s holiday presents, while good by the average person’s standards, were more modest.

The gifts were now each worth less than P4,000 when they used to be worth twice that amount or even more. Her gifting is that legendary. So what happened? Is the businesswoman having financial problems? Aside from things being difficult for many Filipinos financially, the businesswoman has had some difficulties with some people. Let’s just say that some of the money she is flaunting isn’t really hers but is just with her for safekeeping and the real owner could get it back from her. So, yes, she is still rich but no longer as rich as she was before.

BETRAYED AND HURTING

THE starlet cheated on her boyfriend, who threatened to expose her when he discovered what she was doing. They have been together for years and the guy was understandably upset at how things turned out. He used the word “betrayed” a lot. In a panic, the girl called her manager for help. There isn’t much sympathy for the girl because she isn’t a kind person and is difficult to work with. The guy isn’t a sweetheart either but he is, at least, better than her in that department. But of course, the manager did her job and tried to help the starlet and the guy agreed to keep quiet (for now). However, he has been threatening to come out with screenshots and other proof that the starlet indeed cheated on him.

MOVING ON

THE actor has made it obvious that he is still in love with his ex, an actress. She has since moved on with her life and indicated in many ways that a reconciliation seems unlikely. After a while, the actor seems to have moved on too. A recent development that fans have noticed is that he has removed certain posts of them together on his social media, something that the actress did years ago. A few months back, it was rumored that he was dating a minor. The girl in question denied that she was a minor. Now, the rumor is that the actor is getting married soon. It’s not been indicated who the bride will be, if the rumor is true.

The actor is old enough to get married so this rumor, if true, is not shocking at all. It’s actually more shocking that he seems to be ready to fully move on from the biggest love of his life.

ANOTHER NETWORK SWITCH?

SPEAKING of moving on, it seems that the news anchor is said to be ready to leave the network she’s under contract with right now. She is a sort of freelancer, doing occassional work with her old network aside from her contracted work. Will the news anchor transfer to another network or will she go back to her old one? As someone who’s well-loved in the industry, many options seem to be open to her. It would also be exciting to see her continue doing work for her advocacies, something which she is passionate about. For a woman like her, the possibilities are endless.

St. Luke’s...

Continued from B4 pieces fell into place, the purpose of the Evelyn D. Ang/Dāna Charity Ward became clear: service to the Filipino people,” he added. Above all, St. Luke’s trajectory—from its beginnings in Quezon City to its reach in Bonifacio Global City—also reflects a broader philosophy: a leading healthcare institution is defined not merely by awards, technology, or even pioneering treatments, but by the ability to make an impact on the communities its serves over decades.

St. Luke’s integrates patient services, invests in innovation, and empowers its medical professionals. In doing so, the hospital demonstrates that excellent healthcare and social responsibility are not separate but mutually reinforcing.

So as the hospital continues to expand its services, nurture talent, and deepen its partnerships in the community, we can see clearly that St. Luke’s is not content with just maintaining its current standing in the healthcare industry. Its long-term strategy is about building a healthcare ecosystem that balances excellence, accessibility and sustainability, one where every Filipino patient can expect the same standard of care, whether it be in a private suite or within the Dāna Ward.

In many ways, St. Luke’s journey is a testament to what long-term vision looks like; it combines a careful blend of foresight, innovation, and empathy-driven care.

The hospital reminds us that healthcare is not just about treating the sick today, but shaping a system for future generations. With initiatives from the SLMCFI such as the Dāna Ward, St. Luke’s continues to light the path toward a future where world-class healthcare and shared responsibility are inseparable, and where the measure of a leading medical institution is in how many lives it transforms for the better.

B

By Troi Santos

Y the time Magellan opens at the IFC Center in New York on January 9, the film will already have begun its US life through early West Coast engagements. For Janus Films, the pacing aligns with a release approach the company has historically used for films intended to sustain attention beyond an initial weekend.

This is not a conventional specialty release designed to generate immediate momentum. It reflects a long-horizon rollout model more often associated with films that circulate through repertory cinemas, academic settings, and institutional programming. The question posed by the release is not how quickly the film registers but how steadily it holds.

The first phase unfolds in early January with select West Coast engagements ahead of the January 9 New York opening. The timing coincides with a comparatively quiet moment on the industry calendar, after awards-season saturation and before major festival announcements. During this window, critics, programmers, curators and academics are reassessing the year behind them while beginning to register what may shape the months ahead. For distributors operating in the prestige and repertory space, the absence of competing noise allows early encounters to form without surrounding narratives hardening too quickly.

Within that context, Magellan appears alongside two other works by director Lav Diaz, When the Waves Are Gone and the short Phantosmia. The pairing functions less as supplemental programming than as contextual framing, situating Magellan within a continuum that spans historical, contemporary, and interior registers rather than isolating it as a singular historical epic.

Magellan examines the origin of domination, conquest, myth-making, and the moral narratives that accompany expansion. When the Waves Are Gone shifts that inquiry into the present tense, observing how violence persists once spectacle fades, reorganized into procedure, bureaucracy and professional routine. Phantosmia compresses the investigation further, locating the aftereffects of violence within the body itself, where memory remains even in the absence of institutions or visibility.

The purpose of these limited screenings is calibration rather than scale. Early engagements establish how Magellan should be encountered before it enters broader circulation. By appearing alongside Diaz’s contemporary and short-form works, the film is introduced not as a standalone event but as part of a living body of work that can be argued for, returned to, and reprogrammed.

This approach reflects a core element of the Janus model. The company does not treat the opening as the center of a film’s life, but as one node in a longer chain that includes critical consolidation, institutional embedding, repertory circulation, and eventual permanence through restoration and home-viewing contexts. In that ecosystem, early screenings are less about testing demand than about shaping discourse.

As a result, the first audience is prioritized over the largest one. Limited screenings are aimed less at general moviegoers than at critics, programmers, curators, and academics whose early responses help establish the language that follows. Encountering Diaz’s present-tense and compressed work in proximity reduces the likelihood that Magellan will be discussed primarily in terms of runtime or endurance, redirecting attention toward structure, repetition and consequence, the formal concerns that define Diaz’s practice across scales.

GAEL GARCIA BERNAL in the title role of Magellan, director Lav Diaz’s latest epic that is now screening in New York.

The strategy also serves a protective function.

Films of Magellan’s scope are particularly vulnerable to reductive narratives forming early, especially in a media environment that rewards shorthand. Pairing the film with contemporary and short-form works interrupts that process, demonstrating that duration is not an isolated gesture but one tool among many.

The limited nature of the engagements allows critical language to develop gradually rather than harden around first impressions.

From an institutional perspective, the grouping signals long-term value. Museums, cinematheques and universities rarely program isolated titles.

They program bodies of work. Presenting three Diaz films together supplies a framework that supports repeat exhibition, academic engagement, and repertory circulation, the arenas where films of this kind often find their longest lives.

The New York phase follows a similarly measured pattern. At IFC, the opening week includes advance screenings on January 7 and 8 featuring Q&As with Gael García Bernal, who plays the film’s central role, framing early conversation around performance and craft rather than scale alone.

The film officially opens on January 9. Postscreening discussions on January 10 and 11 feature Diaz himself. Diaz, who is currently filming in the Philippines, is expected to return to the US for scheduled West Coast and East Coast engagements tied to the release. The sequencing places interpretive context after initial audience engagement, allowing early responses to form without immediate authorial framing.

From a business standpoint, the release is not calibrated to opening-week metrics alone.

The more relevant measures are structural. Will the film sustain long-form criticism? Will it reappear in repertory programs? Will it enter academic and museum circulation? These indicators shape the long-term cultural life of films operating outside conventional commercial lanes.

The absence of a major awards shortlist does little to alter that equation. Shortlists tend to reward velocity, films that can be quickly summarized

and mobilized within a compressed voting window. Magellan operates on a different timeline.

Its formal scale, thematic density, and resistance to shorthand make it ill-suited to awards momentum but well-matched to slower, more durable forms of engagement.

For Janus, that distinction is not incidental. Much of the distributor’s catalogue consists of films whose reputations were built outside awards frameworks, accruing value through criticism, teaching, and reprogramming rather than trophies. In that context, missing a shortlist is not a referendum on significance but an indication of where a film’s center of gravity lies.

In some respects, the absence of shortlist pressure allows Magellan to circulate without narrative distortion. Rather than being flattened into slogans of urgency or topical relevance, the film can be encountered on its own terms, as a sustained inquiry into power, conquest, and myth-making whose meanings unfold gradually.

That slower engagement aligns more closely with how institutions, curators and scholars ultimately absorb work of this scale.

At this stage of his career, Lav Diaz’s standing is not contingent on awards validation. His films are not seeking entry into the canon so much as extending it. The release structure around Magellan reflects that reality, prioritizing placement, context, and longterm accessibility over competitive outcomes tied to a single season.

Within the Janus model, awards function as optional accelerants, not structural supports. The life being built for Magellan—through repertory circulation, institutional programming, and longform criticism—does not depend on shortlist recognition to hold. It depends on whether the film continues to return, to be argued for, and to be re-encountered.

The release does not hinge on whether Magellan breaks out in a crowded marketplace. It tests whether the film can hold across cities, weeks, and institutional contexts. In the arthouse economy, that durability is often where value ultimately accrues.

Sparkle artists light up 51st Metro Manila Film Festival 2025 CHRISTMAS was made even merrier with Sparkle artists taking center stage at this year’s Metro Manila Film Festival (MMFF). As the festival rolled out nationwide, several Sparkle stars headlined their own entries, showcasing a wide range of genres—from horror and romance to family drama.

Serving as the horror entry in the 51st MMFF lineup is Shake, Rattle & Roll: Evil Origins, featuring Sparkle artists Ysabel Ortega, Dustin Yu, Ashley Ortega, Elijah Alejo, Matt Lozano, and Althea Ablan. Told across different timelines, the film unfolds three chilling stories: In 1775, during the Spanish colonial period in the Philippines, a group of nuns struggles to survive the night after an unknown evil is unleashed within their cloister. Fast forward to 2025, there’s a murderous rampage on Halloween masquerade ball, then a monstrous apocalypse in the future of 2050. The 17th installment of this horror franchise presents

three stories of terror through every generation.

Meanwhile, fans of the 2017 film Bar Boys have more reason to celebrate as the long-awaited sequel, Bar Boys: After School, finally hits the big screen. Reprising their roles are the original four leads, Carlo Aquino, Enzo Pineda, Kean Cipriano, and GMA actor Rocco Nacino, now joined by Sparkle artists Will Ashley, Glaiza De Castro, Therese Malvar, Royce Cabrera, and Bryce Eusebio.

Set 10 years after the first film, Erik, Chris, Josh and Torran grapple with midlife struggles like burnout, heartbreak, and a loss of direction. When they learn that their former mentor Justice Hernandez is gravely ill, the friends reunite to care for her. Along the way, they confront their past choices, rediscover their ideals, and find renewed purpose as mentors to the next generation.

Adding warmth to the festival lineup is the family-oriented film Rekonek, which

follows six Filipino families on Christmas Eve when a worldwide internet outage forces them to reconnect without screens through more traditional and meaningful ways.

Joining the cast are GMA stars Zoren, Carmina, Mavy, and Cassy of the Legaspi family. Continuing his MMFF streak, Kokoy De Santos returns this year with Rekonek alongside fellow Sparkle artists Angel Guardian, Kelvin Miranda, and Prince Carlos.

The era of loveteams makes a strong comeback with Love You So Bad. The film follows Savannah, a sassy, confident college senior determined to live life on her own terms. Caught between two very different men, the reckless bad boy L.A. who fuels her wild side, and the principled and ambitious Vic who pushes her to grow, Savannah must confront old wounds and make difficult choices about who she wants to be and who she dares to love. Straight from their successful Pinoy Big Brother stint, Bianca

de Vera, Dustin Yu and Will Ashley take the lead in this film bringing their chemistry and charm to the big screen. They are joined by their fellow PBB housemate and Sparkle actor, Vince Maristela.

Another MMFF film that is sure to be emotion-packed is Call Me Mother, a film that offers a powerful reminder of a mother’s love in all its forms. Starring Vice Ganda, Nadine Lustre and Lucas Andalio, the story follows Twinkle, a single queer mother whose dream of officially adopting her son is shaken when the boy’s biological mother Mara unexpectedly returns.

Also part of the cast is Sparkle actress Bianca Manalo with the former PBB housemates and Sparkle stars Mika Salamanca and Shuvee Etrata joining the ensemble.

This holiday season, as the MMFF continues to light up theaters, Sparkle artists take pride in showcasing their best work on the big screen.

B6 Friday, January 2, 2026

A Practical Wellness Reset for the New Year Suzuki Dzire, Fronx Hybrid deliver strong fuel efficiency results at DOE CY2025 Fuel Eco-Run

S

uzuki Philippines Incorporated (SPH) reinforces its commitment to fuelefficient and practical mobility solutions as the Suzuki Dzire Hybrid GLX CVT and Suzuki Fronx Hybrid SGX AT posted strong performances at the recently concluded Department of Energy (DOE) CY2025 Fuel Eco-Run (FER) held on September 24, 2025 at the Tarlac–Pangasinan–La Union Expressway (TPLEX).

The DOE Fuel Eco-Run aims to promote fuel efficiency awareness among motorists and encourage automotive manufacturers to develop vehicles that help reduce fuel consumption and emissions. Suzuki participated under the Internal Combustion Engine (ICE) category, showcasing two of its fuel-efficient hybrid models in the Philippine market.

Based on the official results released by the DOE, the Suzuki Dzire Hybrid GLX CVT achieved an impressive 36.10 km/ Lge gasoline-equivalent fuel economy, highlighting its class-leading efficiency for daily city and long-distance driving.

Meanwhile, the Suzuki Fronx Hybrid SGX AT recorded a strong 24.69 km/ Lge, underscoring the model’s balance of performance, style, and fuel efficiency for modern, active lifestyles.

In the photo are, from left, Joey Ang, Group Head - Homologation, PDI, Warehouse and External Affairs and Norihide Takei, Director and General Manager, Automobile Division, Suzuki Philippines Incorporated.

“These results affirm Suzuki’s philosophy of delivering practical and efficient vehicles that respond to real-world driving conditions,” said Norihide Takei, Director and General Manager of the Automobile Division of Suzuki Philippines Incorporated. “The DOE Fuel Eco-Run is an important platform that objectively measures fuel efficiency, and we are proud that both the Dzire Hybrid and the Fronx Hybrid demonstrated strong performance under standardized testing.”

Takei added, “Fuel efficiency is not just about savings—it is about sustainability and responsible mobility. Through models like the Dzire Hybrid and Fronx Hybrid, Suzuki continues to support the government’s efforts toward energy conservation while providing Filipinos with reliable, economical vehicles they can depend on every day.”

Suzuki Philippines also expressed its

appreciation to the Department of Energy for recognizing the brand’s participation and support in promoting energy-efficient transportation. The company remains committed to offering vehicles that combine efficiency, reliability, and value, aligned with the evolving needs of Filipino motorists.

With the strong showing of the Dzire Hybrid and Fronx Hybrid at the DOE CY2025 Fuel Eco-Run, Suzuki once again reinforces its position as a trusted brand for fuel-efficient mobility in the Philippines.

For more information, you may check out any authorized Suzuki Auto dealerships nationwide or visit http://suzuki.com.ph/ auto/. For daily updates on Suzuki, please like Suzuki Auto PH’s Facebook page at https:// www.facebook.com/SuzukiAutoPH, follow them on X at https://x.com/SuzukiAutoPH, and Instagram at @suzukiautoph.

Saludad by the numbers: PHINMA Properties’New Masterplanned Township in Bacolod

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HINMA Properties has unveiled the scale of its new township, Saludad, a 21-hectare community cocreated with Bacolod-based JEPP Real Estate Co. and masterplanned by the award-winning Royal Pineda+.

Rooted in culture, elevated by world-class planning, and powered by the synergy of the PHINMA Group, Saludad is more than an investment; it is a community designed to reflect a New Bacolod, one where heritage remains honored, and dreams and aspirations take shape.

These numbers show how Saludad goes beyond being a residential project: it’s a holistic township where living, learning, working, and thriving happen side by side. They also highlight PHINMA Properties’ evolution from building residential developments to shaping integrated communities; forward-looking spaces that Bacolodnons can proudly call their own.

Saludad is not just numbers; it’s the future of Bacolod living, and where a New Bacolod takes shape. Each figure represents opportunity, growth, and a community rooted in heritage yet prepared for tomorrow. With PHINMA Properties at the helm, Saludad proves that Bacolod’s future is worth building, investing in, and living in.

To learn more about Saludad or to speak with a PHINMA Properties sales specialist, visit the Saludad showroom along the Bacolod-Silay Airport Access Road or reach out through PHINMA Properties’ official Saludad website, Facebook, or Instagram.

Juergen Kreipl appointed General Manager of New World Makati Hotel

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EW World Makati Hotel is pleased to announce the appointment of Juergen Kreipl as General Manager, effective November 21, 2025.

In his new role, Juergen will spearhead the continued growth of New World Makati Hotel, reinforcing its position as one of Manila’s premier destinations for MICE (Meetings, Incentives, Conferences and Exhibitions) and leisure travellers.

Under his leadership, the hotel will further strengthen its status as the preferred choice for business events, lifestyle-driven executives, and modern travellers seeking genuine hospitality with a contemporary Asian sensibility, a vision that aligns seamlessly with Rosewood Hotel Group’s philosophy of Relationship Hospitality.

A seasoned hotelier, Juergen brings more than two decades of global luxury hotel experience and a proven track record of operational excellence, strategic growth, and high-performing team leadership across some of the world’s most respected luxury and upper-upscale hotels.

Before joining New World Makati Hotel, Juergen held senior leadership roles across Southeast Asia, Greater China, and Europe, including General Manager positions at Four Seasons Hotel Jakarta, InterContinental Shanghai Puxi, InterContinental Beijing Beichen, and InterContinental Geneva & Crowne Plaza Geneva.

He has also overseen multiple properties as Vice President of Operations at Compass Hospitality Ltd. in Thailand, where

he was responsible for driving performance, owner engagement, and operational standards across a diverse portfolio.

Throughout his career, Juergen has been recognized for his ability to lead multicultural teams, enhance profitability, and deliver memorable guest experiences through innovation, meticulous attention to detail, and a deep understanding of market dynamics.

His expertise spans pre-opening leadership, yield management, budgeting and forecasting, commercial strategy, and organizational transformation, reflecting his strength as a forwardthinking, people-centered leader who inspires highperformance cultures and sustainable success.

“I am honored and excited to join New World Makati Hotel,” says Juergen Kreipl. “With its rich legacy of excellence and commitment to genuine hospitality, I look forward to working with our talented team to curate extraordinary experiences that enrich our guests, our colleagues, and the wider community. By fostering a culture where people can bring their true selves to work, we will build on the hotel’s success, leave a meaningful legacy in Manila, and ensure every stay feels both personal and memorable.”

Jurgen Kreipl

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OME the new year, we’re flooded with advice on setting goals and crafting wellness routines that boost our health. In a world where we are constantly bombarded with wellness hacks, trending supplements and must-do routines, it’s easy to get overwhelmed and lose track of what genuinely supports your wellbeing.

But what if we approach it a little differently this time?

Instead of constantly challenging ourselves to do more every year, what if we just choose wisely?

Wellness isn’t a one-size-fits-all journey. What works wonders for someone might not suit another’s body or lifestyle. Dr. Vipada Sae-Lao, Nutrition Education and Training Lead for Asia Pacific, Herbalife, provided approaches on how to personalise resolutions that align with the basics but suit one’s lifestyle, energy and pace. It’s time to step into a healthier, more balanced version of yourself.

The saying “Prevention is better than cure” is more relevant today than ever before. Ninety-two percent of respondents in the region echoed this sentiment identifying preventive health as a top priority in the recent Herbalife AsiaPacific Responsible Supplementation Survey.

Contrary to the popular belief, investing in your health doesn’t always require a dramatic overhaul. This can be as simple as choosing to be mindful of portions instead of not eating that lechon at all. In fact, the smartest health investment is adopting consistent, healthy habits and science-backed solutions that keep your body resilient. A balanced, nutrient-rich diet, movement you enjoy, restorative sleep, adequate hydration and effective stress regulation are essential elements of sustained wellness.

Prevention is, after all, giving your future self the healthiest possible head start.

Your body thrives when you give it what it needs, rather than what the latest trend says you should follow.

Start with structuring a diet that reflects your unique metabolism, dietary needs, health goals, cultural preferences, and can be built into your daily routine. A nutritious meal combines high-quality lean protein, healthy carbohydrates, essential fatty acids, fibre, vitamins and minerals, and a variety of antioxidants needed for sustained energy, repair, and overall wellbeing. Stay adequately hydrated, manage your stress with practical strategies, and support your gut health through fibre-rich foods, probiotics and mindful eating. Think of it as being in tune to what your body needs, one mouthful at a time.

It is also important to pair that with movement you enjoy and can stay consistent with, because exercise should energise your body, not drain it. A 2019 report from World Health Organization (WHO) mentions how 93.4 percent of Filipino adolescents were physically inactive. In addition to movement, prioritising quality sleep and rest is also necessary, as they play a critical role in metabolism, hormonal balance, and recovery.

As you start personalizing your health routine, it’s helpful to view supplementation in the same light. The recent Herbalife survey highlighted a point many of us can relate to while 80 percent of people in the region accepted that they take supplements daily, many expressed a lack of confidence in choosing the right ones.

The 2023 National Nutrition Survey (NNS) revealed how Filipinos across all age groups do not consume enough to meet their Recommended Energy Intake (REI). Additionally, intake of calcium, vitamin A, and vitamin C is low across nearly all age groups, resulting in many individuals failing to meet their daily nutrient needs.

A nutritious meal combines high-quality lean protein, healthy carbohydrates, essential fatty acids, fibre, vitamins and minerals, and a variety of antioxidants needed for sustained energy, repair, and overall wellbeing.

The best way to supplement, is exactly what the word means, “fill the gaps your diet can’t always meet,” and don’t just take the thing everyone is talking about.

Consulting a health professional or a qualified nutritionist can help you pick science-backed, high-quality formulations from trusted sources to support your energy, immunity, and boost your daily functioning. When supplements are chosen intentionally, they become a meaningful part of your personalized wellness plan.

A recent survey conducted by The Social Weather Stations (SWS) found that 34 percent of Filipino adults experience stress “frequently” daily.

The fast-paced lifestyle that most of us lead often means extended work hours, irregular eating patterns, increased responsibilities and expectations, and high digital exposure.

Unmanaged and prolonged stress has a significant impact on biological systems within the body including immune response, gut function, metabolic efficiency, and cortisol regulation.

Incorporate simple stress-management practices such as meditation, periodic breaks during work, an evening winddown ritual, consistent sleep routines, and seek professional help when needed.

Studies show that strong family and community network is a key factor for longevity and happiness in Blue Zones. So, cultivating strong personal relationships and being part of supportive communities are powerful ways to stay committed to your wellness routine, while buffering the physiological effects of daily stress.

Lastly, a bit of support can make it much easier to monitor your progress, and that’s where easy-to-use tools can help simplify a busy lifestyle. Whether it’s apps that track steps, sleep patterns, meal composition and water intake or even self-management devices that measure key health parameters recommended by your healthcare provider, many practical options are just a click away.

When used consistently, these user-friendly tools provide clarity, structure, and small nudges that make healthier choices more sustainable for the long term.

“So, this year, let’s keep it your path to long-term health straightforward - focus on the fundamentals, stick to routines that fit your lifestyle and get regular checkups. Changes do not have to be loud like the firecrackers we hear the moment the countdown turns zero for 2026.

New year is about attracting not just prosperity but also good health,” ended Dr. Sae-Lao.

PSF and PLDTHome OMG Winner Donation

PLDT Home OMG Winner Donates P100k Prize to typhoon victims

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MID the more frequent and intense calamities brought about by climate change, the Filipino bayanihan spirit shines through.

The Monsantos are a perfect example of this. As the latest winners of PLDT Home’s One Mega Giveaway (OMG) promo, Marlowe Monsanto and family opted to donate their P100,000 cash reward to PLDT-Smart Foundation (PSF)’s relief operations for the benefit of typhoon Uwan survivors and holiday assistance programs for displaced communities.

“When we learned about the ongoing Uwan recovery efforts, we knew we wanted our winnings to serve a greater purpose,” said Marlowe, whose family’s recent decision to switch to subscribe to PLDT Home paved the way for them to enter and win the OMG promo. “Through this, we hope to contribute to rebuilding communities.

That is enough for us.”

Esther O. Santos, PSF President, thanked the Monsanto family for their donation. “This reflects our

shared responsibility for community welfare. By donating their prize to support disaster-affected communities, their family is helping to bring stability back to other families currently rebuilding their lives,” she said, adding that their contribution will be utilized to buy relief packs and support logistical operations for hard-hit regions, ensuring that aid reaches the intended beneficiaries efficiently.

As the country moves into the holiday season, PSF’s relief operations now focus on sustained recovery and morale building. One Mega Giveaway, in addition to being a customer rewards campaign, has also become an avenue through which PLDT and its subscribers can partner to help those in need Through the One Mega Giveaway (OMG), PLDT Home goes beyond connectivity by empowering Filipino families to live better, dream bigger, and stay meaningfully connected. Each winner’s story is a reminder that every PLDT Home connection holds the power to transform lives and create life’s biggest OMG moments.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong • www.businessmirror.com.ph

Friday, January 2, 2026 B7

CAMPI SIGNS THE E-COMMERCE MOU WITH MAJOR PLATFORMS

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Story & photo by Randy S. Peregrino

HE Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) recently signed the E-Commerce Memorandum of Understanding (MOU) with leading online platforms, in the presence of the Intellectual Property Office of the Philippines (IPOPHL). This reinforces the organization’s commitment to protecting consumers from counterfeit automotive products and promoting vehicle safety standards nationwide.

Present during the signing ceremony were CAMPI president Atty. Rommel Gutierrez and IPOPHL Acting Director General Nathaniel Arevalo. They were joined

by representatives from major online platforms, namely: Shopee, Lazada, and TikTok Shop, who expressed their strong support for the collaboration.

THE 30th Anniversary Coffee Table Book by CAMPI

Gutierrez emphasized that the signing of the MOU comes at a special time for the industry as CAMPI celebrates its 30th anniversary this year. “This collaboration could not have come at a more fitting time. As we mark three decades of service to the motoring public, CAMPI continues to strengthen its mission to raise awareness and fight against counterfeit products that compromise the safety of Filipino consumers.”

“This initiative is aligned with our Road and Vehicle Safety Pillar, which highlights our long-standing commitment to advance industrywide safety standards and ensure that only genuine, high-quality automotive parts reach our roads,” Gutierrez added.

Road and vehicle safety are interconnected—while CAMPI continues to advocate for road safety, the organization is also taking steps to address the challenges of counterfeit parts to promote vehicle safety.

Effective since 2021, the E-Commerce MOU aims to establish a Code of Practice/Conduct to address the proliferation of counterfeit and pirated goods sold online. The MOU, facilitated

by IPOPHL, also enhances collaboration among the signatories and implements efficient Notice and Takedown (NTD) procedures initiated by brand owners.

According to LTO’s data, a vehicle fleet of about 5.8 million units in 2024—a huge market for aftermarket automotive parts, including counterfeits sold through online platforms. By joining the MOU, CAMPI hopes to promote an Intellectual Property (IP) culture in the automotive industry and support its members in developing their IP protection strategies.

Online shopping platforms— Shopee, Lazada, Zalora, and TikTok Shop, likewise, expressed their strong support for this undertaking, assuring that their respective platforms will continue to provide effective and transparent NTD systems that respond to verified notifications in a timely manner.

These measures will help curb the sale of counterfeit goods and strengthen consumer trust in legitimate online automotive transactions.

IPOPHL Acting Director General Nathaniel S. Arevalo commended

(FROM left) CAMPI Assistant Treasurer Atty. Rhys Murillo, IPOPHL Officer-in-Charge Division Chief IP Rights Enforcement Office (IEO) Atty. Regio Ann Pamatian, CAMPI president Atty. Rommel Gutierrez, IPOPHL Director General Atty. Nathaniel Arevalo, IPOPHL Director of Bureau of Legal Affairs and Supervision Director of IEO Atty. Christine Pangilinan-Canlapan, and Clara Patricia Vizconde of IPOPHL IEO. CAMPI CAMPI’s participation in this landmark initiative. “We are pleased to witness CAMPI’s onboarding into this E-commerce MOU. We recognize that choosing authentic spare parts is not only a matter of compliance; it is a commitment to safety, quality, and accountability for consumers’ sake. By doing so, we respect the intellectual property rights of innovators and creators in the Philippine automotive industry. This will contribute to their economic gain, an important aspect in fostering their ingenuity to produce more advanced and quality products for the benefit of all Filipinos.”

As CAMPI celebrates its 30th year, this milestone stresses the organization’s renewed Mission and Vision to lead the local automotive industry toward greater innovation, safety, and consumer protection.

With its growing membership and stronger collaboration with government and private partners, CAMPI reaffirms its commitment to uphold responsible manufacturing, fair trade practices, and the highest standards for vehicle safety in the years to come.

Celebrating 30 years of industry leadership with the “Anniversary

Coffee Table Book” Meanwhile, CAMPI marked a major milestone by launching its 30th Anniversary Coffee Table Book, a commemorative publication honoring three decades of unity, innovation, and nation-building within the Philippine automotive industry. The Coffee Table Book serves as a visual and historical chronicle of CAMPI’s journey since its establishment, capturing significant industry developments, regulatory milestones, market growth, and the collective efforts of CAMPI member-brands in shaping mobility for Filipinos.

The launch event was led by CAMPI Chairman Hon. Jose Chavez Alvarez and CAMPI president Atty.

Rommel Gutierrez, together with members of the CAMPI Board of Trustees, Executive Committee, and distinguished industry partners.

The event drew strong support from CAMPI’s leadership body, highlighting the association’s unified commitment to advancing the industry.

Gutierrez emphasized the importance of this publication in preserving CAMPI’s legacy. “This coffee table book is more than just a compilation of images and

timelines—it is a celebration of our shared achievements as an industry.

Over the past 30 years, CAMPI has witnessed transformative changes in policy, technology, and market behavior. This commemorative book allows us to honor the challenges we overcame, the partnerships we strengthened, and the progress that continues to move the Philippine automotive industry forward.”

Alongside the book launch, CAMPI also shared updates on one of the most anticipated events in the industry—the 10th Philippine International Motor Show (PIMS), scheduled for June 4–7, 2026, at the World Trade Center Metro Manila. While the official theme will be announced at a later date, preparations are already underway to deliver CAMPI’s most expansive and dynamic motor show to date.

Gutierrez noted, “The 10th PIMS will mark a new chapter for the Philippine automotive sector. With more CAMPI members expected to participate, we are preparing the biggest and most diverse PIMS yet—an event that will showcase cutting-edge technologies, global models, and mobility solutions that reflect where the industry is headed in the years to come.”

City driving at its best; Lexus unique menu NLEX and SLEX—thanks to Hana Monzon. No bumper-to-bumper nightmares at all.

How I wish it’d be that way when city living returns first week of January.

Wishful thinking?

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N fairness, the flow of traffic was superbly smooth during the holidays from December 25 up to New Year, January 1, 2026.

I can’t ask for more.

Was it because many of our metro netizens have travelled back to their roots aka provincial origins, thereby easing up mobility issues in the city?

The main roads as well as practically all the side streets were almost vehicle obstruction-free, making it virtually a stress-free city driving in the urban jungle.

The family experienced firsthand travel comfort during trips on board the Isuzu MU-X at both

From Matty Puno of Lexus Philippines: “THERE is something waiting at Lexus Mitsukoshi: Key Coffee.

“Crafted with Lexus’ signature Omotenashi hospitality and attention to detail, these new offerings will be worth one’s visit at Mitsukoshi BGC. “A bowl of Kaarage Udon arrives steaming in a light yet deeply savory dashi consommé, the noodles tender and comforting beneath crisp, golden karaage that crackles at first bite.

“Omurice follows with chicken fried rice wrapped in soft, scrambled eggs, finished with a rich tomato demi-glace that pulls the whole plate together.

“Each of these new main dishes expand the range of momentary reprieve of a good, well-made meal that sets the mood for how personalized luxury can find its way onto your plate even through the simplest recipes.

“For those with a palate that craves for more adventurous experiences rooted in the familiar, the Pomodoro Toast, offers a satisfying contrast of textures, where thick-cut shokupan is layered with savory tsukune, bright pomodoro, bell peppers and melted cheese—toasted to perfection.

“As a sweet ender, guests will enjoy the Berry Parfait which presents a buttery crumble, smooth vanilla diplomat cream, and gently tangy mixed berry compote, finished with balsamic and fresh berries that add lift and depth with every spoonful.

“The new drinks emulate Lexus’ Takumi value of craftsmanship in their robustly crafted but well-

balanced flavors.

“Velvet Peach & Toffee pairs ripe peach with brown toffee crumble, milk foam, and ginger ale for a soft, comforting sweetness.

“The Chili Mint Nama Latte plays with contrast, where subtle heat and freshness meet silky nama chocolate and No. 18 espresso, offering a latte that surprises without overwhelming.

“A Melon Citrus Cream Soda refreshes the palate, combining melon and lime with milk foam and soda water for a light, clean finish. This new selection of assertive flavors showcase Lexus’ unapologetically creative side, innovating familiar tastes with purpose and poise.

“Available exclusively at Key Coffee within Lexus Mitsukoshi, the new menu items invite guests to experience Lexus beyond the showroom floor. Whether stopping by out of curiosity or settling in for a quiet break, visitors are

encouraged to savor the latest additions, and perhaps stay a little longer than planned.”

See you there.

PAL-PSC Partnership NOT to be forgotten was Philippine Airlines’ huge support for our Philippine Team to the justended SEA Games in Thailand on December 9-20.

“As our national heroes representing the country with pride, you deserve our full support and heartfelt care. At Philippine Airlines, we are deeply committed to delivering world-class service to our athletes, who embody the spirit and strength of the Filipino people,” said Alvin Miranda, PAL Vice President for Marketing.

Philippine Sports Commission (PSC) Chairman Patrick Gregorio affirmed the value of the flag carrier’s backing.

“Our partnership with Philippine Airlines ensures that

our focus remains squarely on performance, knowing that the journey is expertly handled by the nation’s flag carrier. We thank PAL for their commitment to our athletes,” Gregorio said.

Filipino athletes to the last SEA Games received their Mabuhay Miles National Athlete ID cards, granting them immediate access to Philippine Airlines’ exclusive travel privileges for official PSC-endorsed competitions.

Among these exclusive benefits are extra baggage allowance for essential sports equipment, waiver of first rebooking fees for select SEA Games 2025 tickets, and elevated service for national athletes on PAL flights.

Medal-winning athletes also received Mabuhay Miles Rewards as the three-year PAL-PSC partnership extends up to October 2028 to include the 2028 Los Angeles Olympics. Cheers!

PEE STOP Happy New Year!

SEA Plus Youth Games in Manila ’28­–Tolentino

Sports BusinessMirror

B8 Fri

day, January 2, 2026 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

GABE NORWOOD flashes the intensity—against Meralco’s Chris Newsome on Monday night—that’s been his trademark in a Rain or Shine uniform for all of his 18 seasons in the league. PBA IMAGES

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HILIPPINE Olympic Committee (POC) president Abraham “Bambol” Tolentino has spearheaded the creation in Southeast Asia of a youthbased multi-sport competition that will help guarantee the preparedness of the region’s athletes for the Asian Youth Games (AYG) and Youth Olympic Games (YOG).

To be called the Southeast Asian Plus Youth Games or SEA Plus YG, the competitions are designed to be held at least a year before the AYG for athletes aged 17 and under.

Tolentino is the founding president of the games that has already secured the imprimatur of nine of the 11 national Olympic committee (NOC) presidents of the SEA Games—Thailand, Indonesia, Malaysia, Laos, Cambodia, Myanmar, Vietnam and Timor Leste.

The POC head said that the Olympic Council of Asia (OCA) has advanced its full support and assistance to the SEA Plus YG in a meeting among the founding members with OCA Director General Dr. Husain AHZ Al-Musallam of Kuwait who said that the countries which don’t want to join is up to them.”

“The SEA Plus YG is Southeast Asia’s answer to molding athletes at the grassroots level, make them competi-

Norwood emotional after final PBA game

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ABE NORWOOD tried to hold back tears as he officially retired from the Philippine Basketball Association on Monday night and said goodbye to what he referred to as his “family.”

In a heartfelt message following Rain or Shine’s ouster in the Philippine Cup quarterfinals via a 98-89 loss against Meralco, the 40-year-old Norwood showed his gratitude to the only franchise he played for in his close to 18 years in the league.

“I just want to thank Rain or

Shine, played for just one organization my whole career, only called one place home,” said Norwood as he almost overcame by emotion while addressing the crowd at the Smart Araneta Coliseum shortly after the game.

“It’s special to me,” he said. “They took me in as a son back in 2008 and it’s been family the whole way through.”

A product of NCAA Division 1 school George Mason University, the Filipino-American guard was handpicked by Rain or Shine

at No.1 overall pick in the 2008 draft.

He played his entire career for the Elasto Painters, where he won the 2012 Governors’ Cup and 2016 Commissioner’s Cup. Norwood was also Rookie of the Year in 2009, a seven-time member of the All-Defensive Team, 11-time All-Star who was MVP in the 2010 All-Star game, a former Mythical Second Team once and three-time recipient of the Samboy Lim Sportsmanship award.

Also previously a major part of

the Gilas Pilipinas program, he was supposed to retire at the end of Season 49, but was prevailed upon to stay for another conference by management and coach Yeng Guiao in the hope of getting its act together and winning another championship before Norwood hangs up his playing jersey.

Norwood played 22 minutes and had three points, two rebounds, three steals and one assist in his final PBA game.

Pacquiao vs Barrios highlights pro fights in 2025

By Josef Ramos

and, possibly, a return bout with Floyd Mayweather Jr. “The boxing journey of Manny Pacquiao continues,” Pacquiao (62-83 record with 39 knockouts) said then after his botched attempt against Barrios. “The fire is still there. I will not retire yet. I will still fight for our coun-

try as long as I have the will, strength, speed and the power, I will not stop.”

It was Pacquiao’s first fight after ALL of Famer Manny Paclosing what was supposed to be his quiao’s strong majority draw retirement bout against Yordenis performance against World Ugas of Cuba in August 2021 at the Boxing Council (WBC) welterweight T-Mobile Arena also in Las Vegas. champion Mario Barrios last July Taduran is the International Boxstood as Philippine pro boxing’s ing Federation minimum weight highlight of 2025. king and Jerusalem the WBC miniPacquiao, who turned 47 last mum weight champion after blasting December 17, remains the country’s their respective foes in 2025. longest active professional boxer The pride of Libon in Albay, Tadustretching more than three decades ran repeated over Japanese Ginjiro as Pedro Taduran and Melvin JeShigeoka last May in Osaka in a rusalem sustained their reign as rematch via split decision win world champions to also share a and defended his belt against significant nook in the sport in the previous year. compatriot Christian Balunan last October via unaniWithout so much big names mous decision at the San fighting in 2025, Pacquiao alAndres Sports Complex in most did the improbable by beManila. coming the oldest welterweight Taduran is 19-4-1 with world champion, but no thanks to 13 knockouts. one judge, who scored 115-113 for A two-time world Barrios with the others seeing the fight at 114-114 for that majority SHEIKH Ahmed Bin Mohammed Bin Rashid Al Maktoum, Second Deputy Ruler c h a m p i o n f r o m of Dubai and chairman of the Dubai Media Council, presents an award to Hall Bukidnon, Jerusadraw last July 19 in Las Vegas. lem did the same Barrios, as a result, retained of Famer Manny Pacquiao on the opening day of World Sports Summit in Dubai on Monday. Pacquiao is one of the main speakers of the Dubai Sports his belt. to Ginjiro’s brother, Yudai Shigeoka, via But Pacquiao isn’t done yet and Council-organized summit, considered the largest global gathering of its wants to be atop the ring in March kind, bringing together a distinguished group of top sports decision-makers, unanimous decision against the World Boxing Asso- experts, global stars, representatives of international sports federations and last March in Tokyo and outpointed ciation champion Rolly Romero organizations, investors and innovators. GULFNEWS.COM

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Joshua discharged from hospital

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BUJA, Nigeria—British boxer Anthony Joshua has been released from hospital, Nigerian authorities said on New Year’s eve.

The two-time former heavyweight champion and Olympic gold medalist was involved in a fatal road crash near Lagos on Monday which killed two of his close associates and team members.

Joshua had been under “observation” at Lagoon Hospital in Lagos while recovering from minor injuries, promoter Eddie Hearn’s Matchroom Boxing said Monday.

The Lagos state commissioner for information, Gbenga Omotoso, said in a statement on X that Joshua was discharged late Wednesday afternoon after being deemed clinically fit to recuperate from “home.”

“Anthony and his mother were at the funeral home in Lagos this

afternoon to pay their final respects to his two departed friends as they were being prepared for repatriation scheduled for later this evening,” Omotoso said.

Sina Ghami and Latif “Latz” Ayodele were killed in the crash. Ghami was Joshua’s strength and conditioning coach while Ayodele was a trainer.

Just hours before the crash, Joshua and Ayodele posted clips on social media playing table tennis together.

Earlier Wednesday, Hearn paid tribute to the two victims after the vehicle they were traveling in with Joshua struck a stationary truck on a major road near Lagos.

Hearn posted on Instagram: “Rest in peace Latz and Sina. Your energy and loyalty among so many other great qualities will be deeply missed.

Praying for strength and guidance for all their family, friends and of

South African Siyakholwa Kuse last October in a “Thrilla in Manila 2” undercard at the Smart Araneta Coliseum.

Charly Suarez, an Olympian and three-time Southeast Asian Games gold medalist, and four-division champion Nonito “The Filipino Flash” Donaire Jr., on the other hand, fell short of claiming world titles in 2025.

Suarez’s fights against World Boxing Organization super featherweight champion Emmanuel Navarrete last May was declared a no contest because of the referee’s failure to recognize a punch by the Filipino that bloodied the Mexican’s eyebrow—he declared it as a headbutt.

Donaire, 43, yielded to Seiya Tsutsumi last December 17 via split decision and failed to snatch the Japanese’s WBA bantamweight belt in Tokyo—Donaire was successful in June after scoring a technical decision win over Andres Campos of Argentina in Buenos Aires. Suarez, 37 and Donaire, 43, declared they remain focused on a world title in 2026.

course AJ during this very difficult time.”

The crash occurred on a major thoroughfare—the Lagos-Ibadan Expressway which links Ogun state to Lagos, the country’s economic capital—at about 11 a.m. local time. Footage on social media showed Joshua being extricated from a wrecked vehicle while he ANTHONY JOSHUA has been under “observation” in a Lagos was wincing in pain. hospital while recovering from minor injuries. AP Nigeria is the homeland people were killed in road accidents of Joshua’s parents. last year compared to 2023.

The accident has elicited growing Just 10 days before being injured concerns about road safety in Nigein the accident, Joshua knocked ria, where accidents are common. out YouTuber-turned-boxer Jake The West African nation recordPaul in a Netflix bout in Miami, a ed 5,421 deaths in 9,570 road accifight he used to improve fitness in dents in 2024, according to data by a bid to contest future top-flight the country’s Federal Road Safety boxing titles.

Corps. Its data showed 340 more

establishment of the SEA Plus YG during official meetings and caucuses at the 33rd SEA Games in Thailand last month.

Tolentino, honorary president of the SEA Games Federation Council, said the program shall consist of two mandatory sports, a maximum of 12 Olympic sports, maximum of five Asian non-Olympic sports and one traditional sport with up to six medal events.

The “Plus,” Tolentino explained, refers to at least one invited Asian NOC in other Asian sub-region for each edition of the Games for the purpose of providing added competition for the region’s grassroots.

The inaugural edition is intended to be in Manila in 2028 and shall be staged biennially thereafter to align with the AYG—the second largest sporting event in the continent after the Asian Games drawing 45 nations—which was recently hosted by Manama with Tashkent as the next host in 2029.

SEA Games countries remained behind the Asian powerhouse in the AYG and in the third edition in Bahrain last October, the Philippines won a record nine gold medals to be the second beat-ranked Southeast Asian nation behind Thailand with 15.

Thailand leads the region overall with 15 golds, followed by Singapore with 16, the Philippines with nine, Vietnam

PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino initiates the establishment of a regional games dedicated to athletes aged 17 and under with the goal of pursuing Olympic goals. POC PHOTO

tive at the AYG level and able and capable of winning medals at the YOG,” Tolentino said.

The inaugural edition is intended to be in Manila in 2028 and shall be staged biennially thereafter to align with the AYG—the second largest sporting event in the continent after the Asian Games drawing 45 nations—which was recently hosted by Manama with Tashkent as the next host in 2029.

“Ultimately, the end goal is for these young athletes to have those strong foundations to contend at the Summer and Winter Olympics,” added Tolentino, who reiterated the immediate

with six and Indonesia and Malaysia with five each.

“The SEA Plus YG is an elitelevel, developmental and culturally unifying multi-sport event as we have stated in the games’ charter,” said Tolentino, who, according to the founding NOC heads “initiated, guide and established the creation of SEA Plus YG.” Besides the SEA Plus YG, Tolentino has been fervently working on transitioning the SE Games into the ASEAN Games that aims to push a stronger ASEAN brand globally not only in sports but as essentially on the world economic and political stage.

Wembanyama feeling fine after injury scare

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AN ANTONIO—Victor Wembanyama said he feels fine and does not expect to miss any time after hyperextending his left knee Wednesday against the New York Knicks.

Now, whether the San Antonio Spurs agree with the center’s prognosis remains to be seen. But, all sides are grateful the episode was not anything worse.

“It’s a good thing it was just a hyperextension,” Wembanyama said. “It should be minimal, whatever this thing is.”

Wembanyama left Wednesday night’s rematch with the Knicks in the fourth quarter, but returned to the bench in time to see the Spurs win, 134-132.

Wembanyama finished with 31 points and 13 rebounds in 24 minutes as San Antonio avenged a 124-113 loss to New York in the National Basketball Association (NBA) Cup final on December 16.

Wembanyama took to the court after Wednesday’s game to gleefully lead the newest Spurs tradition that he created—having the crowd clap their hands after each bang of the drum.

“I was confident,” Wembanyama said. “I wasn’t bad. I was this close to coming back into the game. They have to hold me back.”

Wembanyama went to the locker room with just under 11 minutes remaining, but returned

to the Spurs bench with 1:22 left in the game. He was alone and walking without a limp when he returned.

“I’m feeling good, just sore,” Wembanyama said. “Very confident [he is healthy].”

The NBA, meanwhile, saw its best Christmas Day viewership numbers in 15 years, the league announced recently.

More than 47 million people in the US watched at least some of the five-game slate on ABC and ESPN, which represents a 45 percent increase over last year. And there was an average of 5.5 million viewers for the games, up 4 percent from a year ago.

The Cleveland-New York game was the most-watched Christmas game ever that started at noon Eastern, with an average of 6.4 million viewers.

The San Antonio-Oklahoma City game was the most-watched in the 2:30 p.m. Christmas timeslot since 2017 and the DallasGolden State game was the mostwatched in the 5 p.m. timeslot on the holiday since 2019. Nielsen said it provided the ratings data.

Also Wednesday, the NBA said it was the “most-viewed brand across social media” on Christmas, with its content generating 1.6 billion views, according to Videocites.

That’s up 23 percent over Christmas 2024.