THE Philippine Chamber of Commerce and Industry (PCCI), the largest business group in the country, is pressing President Ferdinand R. Marcos Jr. to endorse 20 “critical” legislative measures in his upcoming State of the Nation Address (SONA) and the 20th Congress agenda. PCCI said these reforms would
help in addressing the “structural bottlenecks” in the country.
In a formal letter addressed to Malacañang, PCCI President Enunina V. Mangio said the proposals target structural reforms to “unlock the full potential of our economy” and ensure “broadly shared and sustainable growth.”
The business group said these measures align with the administration’s momentum in enhancing competitiveness, expanding eco -
nomic opportunities, and driving innovation.
Under the pillar of Digital Transformation and Infrastructure, PCCI said there is a need to prioritize the passage of the Open Access in Data Transmission Bill or Konektadong Pinoy Act which “seeks to expand high-speed internet access nationwide.”
To further beef up digital transformation in the country, the business group pointed out the
need to “fully leverage” the Digital Transformation Roadmap and National Fiber Backbone. On infrastructure, PCCI said it supports the passage of a National Comprehensive Infrastructure Masterplan, adding this will provide a “long-term framework for strategic and resilient infrastructure investment.” In the area of logistics efficiency and reducing costs, PCCI
By Cai U. Ordinario @caiordinario
THE
Marcos administration is offtrack in meeting its Philippine Development Plan (PDP) 20232028 goals for social protection, agriculture and agribusiness and industry.
Based on the Statistical Indicators on Philippine Development (StatDev), the Philippine Statistics Authority (PSA) said less than half of the country’s social protection, agriculture and agribusiness, and industry goals can be achieved by 2028.
Using 2024 data, the country’s overall performance showed only 247 out of 439 or 56.3 percent of the indicators assessed showed medium to high likelihood of achieving the end-of-plan (EOP) targets.
“It is important to note that poor sectoral progress does not necessarily mean that the concerned agencies under the sector performed poorly,” the PSA said.
“The sectoral progress is affected by the number of indicators considered, and data for indicators under the sector. A poor sectoral progress may improve when there are changes in the two aforementioned factors under the sector,” it added.
In terms of social protection, the proportion of Local Government Units with Dietary Supplementation Programs for both pregnant women and children aged 6 to 23 months has markedly improved. However, the number of deaths and missing persons, as well as those
EXPENSIVE internet subscriptions and devices are the top reasons cited by Filipinos for not having internet access at home, according to the Philippine Statistics Authority (PSA).
Based on the results of the National Information and Communications Technology Household Survey (NICTHS), PSA said 58.3 percent of Filipinos said internet service is expensive while 37.5 percent said a device was costly.
“High cost of internet subscription was the common reason for no access to internet among households and the main reason for not using the internet among individuals.”
PSA said among individuals aged 10 years and over who did not use the internet at any loca-
tions, the most common reason was high cost of internet subscription at 41.7 percent, followed by high cost of equipment at 33.2 percent.
The data also showed 29.5 percent of those who were surveyed said they did not know how to use the internet, preventing them from accessing it.
PSA also said 16.1 percent said internet service was not available in their area; 14.9 percent said they do not need the internet; 12.5 percent said internet quality and speed was poor; and 11.4 percent said they did know what the internet is.
The data also showed 6.6 percent said they were not allowed to use the internet; 6.3 percent said they had privacy and security concerns;
SBy Ada Pelonia @adapelonia
EVERE tropical storm Cris-
ing and the southwest monsoon destroyed crops and killed livestock valued at over P130 million, the Department of Agriculture (DA) said on Tuesday. In its latest bulletin, the DA said the agricultural damage caused by the tropical storm and habagat hit P134.66 million. The storm also displaced 6,377 farmers and fisherfolk.
The volume of production losses in the Ilocos Region, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, Bicol Region and Western Visayas Regions was pegged at 3,412 metric tons (MT).
Rice bore the brunt of the damage brought by the combined effects of the typhoon and southwest monsoon at 3,075 MT. Corn, high-value crops, and cassava also sustained damage at 243 MT, 94 MT, and 1 MT, respectively.
The report said the production losses are equivalent to P121.88 million for rice, P5.34 million for corn, P4.53 million for high-value crops, P2.85 million for livestock and poultry, and P44,950 for fisheries, and P9,000 for cassava.
The DA said 8,035 hectares of agricultural areas were affected by the storm and habagat. Of these, 6,699 hectares have a chance to recover.
However, DA Undersecretary Roger Navarro said the latest figures have yet to be validated.
“These figures are still subject to change as we continue to assess the situation on the ground,” Navarro said in a statement.
Despite this, the DA said it has allocated P495.4 million in agricultural inputs, including rice, corn, and vegetable seeds.
This would help farmers in the Ilocos Region, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, and Western Visayas, it added. These are the areas affected by typhoon Crising whose impact was compounded by the southwest monsoon.
Navarro said additional support would also be made immediately available to affected farmers and fisherfolk. Such interventions include
Piñas, scenes of soaked commuters
IRONCLAD ALLIANCE Secretary of State Marco Rubio shakes hands with Philippine President Ferdinand “Bongbong” Marcos Jr. outside the Thomas Jefferson State Reception Room at the US Department of State in Washington, D.C., on July 21, 2025, following their bilateral meeting. Secretary Rubio met with President Marcos ahead of the Philippine leader’s scheduled talks with United States President Donald Trump at the Oval Office on July 22. The two reaffirmed the enduring and ironclad United States–Philippines alliance, emphasizing its critical role in maintaining peace and stability in the Indo-Pacific region. They reiterated their shared commitment to deterrence and to upholding freedoms of navigation and overflight in support of a free and open Indo-Pacific. TROI SANTOS
GSIS board names OIC after Ombudsman suspends chief
By Reine Juvierre S. Alberto and Lenie Lectura
THEGovernment Service Insurance System (GSIS) Board of Trustees assured members and pensioners of “responsible fund stewardship” and “uninterrupted” operations after several top officials were put under preventive suspension by the Office of the Ombudsman.
The GSIS Board of Trustees designated Executive Vice President for Support Services Juliet Bautista as Officer-in-Charge to temporarily assume the responsibilities of GSIS President and General Manager Jose Arnulfo Veloso, who is suspended for six months.
ergy and is cooperating fully with the investigation.
“We welcome this opportunity to affirm the integrity of GSIS’s investment decisions and will provide further updates once the process concludes. As the investigation is ongoing, we will refrain from additional comments at this time,” Veloso said.
“The GSIS Board has acted promptly to ensure business-as-usual across all services and core operations. All programs, member transactions and benefits delivery remain fully operational and uninterrupted,” a statement from the GSIS on Tuesday read.
the government’s fiscal objectives and development agenda.
GSIS, as well as the Social Security System, have been growing and are profitable, according to the Finance chief.
“It’s unfortunate. I know him to be a good CEO [Chief Executive Officer],” Recto said when asked about Veloso’s six-month suspension.
Veloso was the former CEO of the Philippine National Bank and the first Filipino CEO of Hongkong-Shanghai Banking Corporation (HSBC-Philippines).
directly affected by disasters per 100,000 population in 2024, remain far above their respective EOP targets.
In terms of Agriculture and Agribusiness, PSA said majority of the indicators showed a low likelihood of meeting their goals.
Out of the 13 major agricultural commodities, only abaca posted a high likelihood of achieving its EOP target.
The remaining 12 commodities, which include palay, white corn, yellow corn, banana, coconut, pineapple, mango, sugarcane, cassava, coffee, cacao, and rubber, all exhibited a low likelihood of reaching their yield goals by 2028.
tors or 59.4 percent reflected a high or medium likelihood of achieving the 2028 targets.
The chances that the economy will post a growth of 6.5 to 8 percent, the PSA said, is also low. The chance is less than 0.5 percent, indicating that the target will not likely be achieved.
“The primary expenditure-toGDP ratio and the utilization of the current year’s budget have continued to surpass their respective EOP targets,” PSA said.
GSIS supposedly acquired the perpetual preferred shares without the approval of the GSIS Board of Trustees and endorsement from the Assets and Liabilities Committee and the Risk Oversight Committee.
Veloso said in a text message to BusinessMirror that GSIS acknowledges the Office of the Ombudsman’s inquiry into its investment in Altern-
The change comes after the Ombudsman found Veloso and six other executives, namely, Executive Vice President Michael Praxedes, Executive Vice President Jason Teng, Vice President Aaron Samuel Chan, Vice President Abigail Cruz-Francisco, Officer II Jaime Leon Warren and Acting Officer IV Alfredo Pablo, guilty of grave misconduct and gross neglect of duty and violated reasonable office rules and regulations. An investigation revealed that GSIS invested P1.45 billion in Alternergy Holdings Corporation. GSIS subscribed to 100 million preferred shares worth P14.50 per share under a private placement.
Bautista, a certified public accountant with more than 20 years of experience, was appointed during a special board meeting on Monday.
Bautista holds a master’s degree in Business Administration from the Ateneo de Manila University and a degree in Accountancy from the University of Santo Tomas.
‘Unfortunate’ “IT is normal for some investments to do better than others,” Finance Secretary Ralph G. Recto told BusinessMirror on Tuesday.
The Department of Finance oversees the policies of government financial institutions, such as the GSIS, and recommends strategic actions aligned with
He was elected as president and general manager of GSIS in 2022 after working for three decades in banks.
In 2024, GSIS reported investment gains of P13.27 billion from foreign exchange, P11.24 billion from global private equity investments through external fund managers and P3.09 billion from local equity investments.
The pension fund’s net income from operations also rose to P135.7 billion in 2024, higher by 21 percent from P112.1 billion in 2023.
Total assets of GSIS also grew to P1.83 trillion in 2024, up by 9.23 percent year-on-year from P1.67 trillion.
‘Deal above board’ ALTERNERGY on Tuesday broke its silence regarding the deal it entered into with GSIS.
“We are confident that all our actions adhere to the highest standards of governance,” said Gerry Magbanua, Alternergy President. “Maintaining stakeholder trust is at the core of everything we do.” He added that Alternergy stands ready to cooperate with any official review.
In December 2023, GSIS subscribed to the company’s perpetual preferred shares (PPS). The PPS enjoy a preference in distribution and liquidation over common shares, are non-voting and non-convertible, have a coupon of 8 percent per annum with a step up on its 7th anniversary, and are redeemable at a premium to GSIS beginning on the 5th year.
The PPS were listed on the stock exchange in March 2024 and are tradeable securities.
Alternergy has already remitted the first PPS coupon totaling P118 million to GSIS in December 2024. This coupon is payable every year and effectively gives GSIS a 56 percent return on its investment in the PPS, totaling P826 million, over seven years.
In addition, funds used to subscribe to the PPS amounting to P1.45 billion will be returned to GSIS in full at the end of the investment period. Proceeds of the investment were utilized for accelerating the development and construction of Alternergy’s Tanay and Alabat wind power projects, both awarded under the Green Energy Auction 2 (GEA 2) Program of the Department of Energy (DOE) as part of four projects under construction totaling 225 megawatt (MW) capacity.
“This affirms the soundness of GSIS’ investment decision in Alternergy,” said Magbanua, “and reflects its and its members’ commitment to renewable energy and sustainability.”
Further, PSA said a similar trend was observed in the volume of production, where only six out of 15 commodities show a medium to high likelihood of reaching their respective EOP targets.
For industry, most indicators or 16 out of 23 have a low likelihood of being achieved by 2028. This is especially the case when it comes to the Gross Value Added (GVA) growth rates in various industries.
‘Average’ performance
MEANWHILE , the administration’s performance was “average” in Human and Social Development, Macroeconomy, Governance, Infrastructure, Environment, and Trade and Investment.
“[Average means] the percentage of indicators included in 2024 StatDev which posted low likelihood of achieving their respective EOP targets is more than 33.3 percent but at most 50 percent,” the PSA said.
In human and social development, PSA said the proportion of water bodies meeting water quality standards for primary contact recreation, food production, and water supply remains substantially below its 2028 goals.
However, the proportion of public schools with internet access—from primary to senior high school—has shown notable gains compared to the 2021 baseline.
PSA also said the coverage of barangays served by materials recovery facilities and cities/municipalities with sanitary landfill facilities continues to improve steadily as they approach their EOP targets.
The report also stated that in terms of the macroeconomy, the country only showed an average performance in achieving its EOP targets.
Only 19 out of 32 assessed indica-
“In contrast, the revenue-to-GDP ratio and the tax revenue-to-GDP ratio have both slightly increased based on the latest 2024 data. Despite the increase, major improvements are needed to reach their EOP targets,” it added. In terms of governance, the country showed an average performance, with 19 out of 32 assessed indicators or 59.4 percent demonstrating a high or medium likelihood of achieving their EOP targets. The PSA said some indicators are projected to fall short of their EOP targets, such as the success rate in processing requests through the Electronic Freedom of Information (eFOI) portal.
The data showed that the average number of working days required to process eFOI requests and the complaints and compliance rates remain below the EOP goals. For infrastructure, the PSA said it only showed average performance, with 32 out of 55 assessed indicators or 58.2 percent showing a high or medium likelihood of meeting their 2028 targets.
The performance in this sector was dragged down by challenges in road safety with a road traffic accident rate of 26 incidents per 100,000 population, which is far from the target of 2.5 incidents per 100,000 population.
The PSA also said the percentage of provinces with an adequate bedto-population ratio and adequate primary care facilities shows a low likelihood of reaching their EOP targets.
For the environment, the PSA said, 18 out of 32 assessed indicators or 56.3 percent showed a high or medium likelihood of achieving targets.
The data showed the coverage of protected areas in relation to marine and areas of land degradation hotspots have shown only minimal improvement and remain below their respective EOP targets. In terms of trade and investment, PSA said both non-electronic and overall merchandise exports remain substantially below the 2028 targets.
highlighted the need to approve the International Maritime Competitiveness Act and amendments to both the Philippine Ports Authority (PPA) Act and Civil Aviation Authority of the Philippines (CAAP) Charter, which seek to resolve “conflicting” mandates and enhance regulatory oversight in the shipping and aviation sectors.
To unlock the growth potential of micro,small, and medium enterprises (MSMEs), PCCI pushed for amendments to the Magna Carta for MSMEs to enhance access to finance, markets, and technology.
As for Agricultural and Fisheries reforms, the business group called on Marcos to endorse the Blue Economy Act, Corporate Farming Act, amendments to the Agri-Agra Law, ASIN Law, Warehouse Receipts Act and the “long-awaited” Nationa Land Use and Management Act.
To bridge skills gaps and support youth employment, PCCI said it “advocates” for workforcealigned policies such as the Apprenticeship Training System Act and amendments to the Dual Training System Act.
To bolster export
competitiveness, PCCI is hoping the National Quality Infrastructure Act would be passed in the 20th Congress.
On fiscal and governance reforms, the business group is urging the government to pass the Budget Modernization and Reform Act and Customs Amnesty Act to enhance public service delivery and fiscal accountability.
The largest business group in the country is also endorsing key digital governance reforms such as the Cybersecurity Act, E-Governance Act, and Artificial Intelligence Act, all of which aim to “future-proof t he Philippine economy and secure digital infrastructure.”
“These measures address structural bottlenecks that hinder investment, logistics, rural development, and regulatory efficiency,” said Mangio.
“We believe President Marcos’ strong endorsement of these bills during his SONA will help fasttrack their passage and demonstrate the administration’s commitment to inclusive and future-ready economic growth,” the PCCI chief added. The PCCI reiterated its “readiness” to work with the administration and Congress to turn these priorities into “actionable reforms” that will benefit both business and Filipino communities.
Floods, landslides affect 2,008 barangays
By Jonathan L. Mayuga @jonlmayuga & Samuel P. Medenilla @sam_medenilla
AS the number of people affected by the southwest monsoon continues to rise, Malacañang suspended the preparations for President Ferdinand Marcos’ fourth State of the Nation Address (Sona) next week to focus on helping affected communities.
Instead of preparing for Marcos’ Sona, Executive Secretary Lucas P. Bersamin ordered concerned government agencies to focus on helping those affected by Typhoon Crising and the enhanced habagat.
Bersamin issued a strongly worded statement amid reports that some government agencies had been busy posting Sona-related materials, while many parts of Luzon were submerged in floodwaters.
The National Disaster Risk Reduction and Management Council (NDRRMC) in its July 22 Situational Report on the combined effects of Crising and southwest monsoon reported that 6 persons were killed, five injured, while seven others remain missing.
So far, a total of 362,464 families or slightly over 12.6 million Filipinos, approximately 10 percent of the Philippine population, living in 2,008 barangays in 326 cities and municipalities were affected by massive floods.
The NDRRMC said it received
reports that a total of 441 areas were flooded, with 1,501 houses damaged, costing P27 million.
The estimated damage to infrastructure rose to P413 million, while estimated damage to agriculture was pegged at P54 million in some 2,500 hectares of crops with 2,344 farmers affected.
Since July 17, a total of 82,000 people have been displaced, with fewer than half forced to stay in different evacuation centers.
“Let me be clear: all SONA-related preparations are hereby ordered immediately suspended. The Department of Public Works and Highways [DPWH], along with all concerned government agencies, must put full attention and exclusive focus on flood response and relief operations,” Bersamin said.
“The President’s directive is to focus all efforts on ensuring the safety and welfare of the Filipino people, especially during times of crisis. All government agencies are expected to act accordingly,” he added.
The Palace official commented on photos of DPWH personnel installing Sona-related tarpaulins, which showed the photo of the President, along Padre Burgos Drive in Manila, circulated online. Marcos will deliver his fourth Sona on 28 July 2025.
Bersamin admonished DPWH for the said activity especially since many communities are still reeling from the effects of the southwest monsoon.
“The President is dismayed by reports that government personnel are putting up SONA-related materials in public areas while many communities are battling heavy flooding,” Bersamin said.
‘Keep safe’
MARCOS called on the public to follow government advisories to keep themselves safe during the calamity.
“I just ask you to listen to the advisories issued by your local governments and the national government, and please follow them so that we can ensure that you are not put in danger,” Marcos said in Filipino in a video message posted on his social media page.
Malacañang has approved the recommendation of the concerned government agencies to suspend government work and classes in Metro Manila and other provinces on Tuesday owing to the flooding and landslides caused by the southwest monsoon.
Before his departure to the United States (US) last Sunday, he instructed the Office of Civil Defense, Department of Transportation, Department of Health, Department of Social Welfare and Development, Department of Public Works and Highways, Department of Energy, and the Department
of the Interior and Local Government to mobilize their resources to ensure the public safety amid the floods and landslides caused by southwest monsoon.
Marcos is on an official visit to the US from July 20 to 22, 2025, to meet with US President Donald Trump and other senior officials of the US government to discuss economic and security matters.
In a separate video message, Defense Secretary Gilberto C. Teodoro Jr. said the President is constantly monitoring the disaster-related updates from OCD and other government agencies.
“You can count on our President being focused 24/7 [on the said updates] here in America,” Teodoro said.
The National Disaster Risk Reduction and Management Council (NDRRMC) reported that the number of fatalities from the southwest monsoon has risen to five, while seven were reported to be missing.
The bad weather has affected over 800,000 people and caused an estimated P219.3 million in damage to infrastructure as of Monday morning.
Marcos said the concerned government agencies will deliver the necessary relief goods and medical teams to the affected areas.
“Of course, we are ensuring that there is an adequate supply of water and electricity for the needs of the victims of this flooding and heavy rain,” he said.
The President said he will also make sure to enhance the government’s disaster response, especially with the extreme weather caused by climate change.
In line with the directive of Marcos, the Department of Social Welfare and Development
Senate leaders push aid to flood victims
SBy Butch Fernandez @butchfBM
ENATE leaders on Tuesday moved to push timely aid for victims of recent disasters that hit the country. After steering the enactment of the “Ligtas Pinoy Centers Act,” Senate President Pro Tempore Jinggoy Ejercito Estrada introduced twin measures to chart a broader disaster-ready blueprint for the country—landmark legislations that seek to revolutionize the Philippines’ disaster preparedness and response system.
Among Estrada’s pet bills for the 20th Congress is the creation of a Department of Disaster Resilience (DDR)—an agency that will unify, strengthen, and streamline disaster preparedness, response, and recovery efforts—as well as the enactment of the Disaster Food Bank and Stockpile Act, which seeks to establish a nationwide network of food banks and relief supplies for swift deployment during emergencies.
“Disaster resilience begins long before the typhoon hits or the ground shakes. It starts with smart planning, readiness, and rapid response capabilities. These two proposed laws aim to address the gaps that often lead to avoidable
loss of lives, hunger, and delayed recovery,” said Estrada.
Under the proposed Disaster Resilience Act, DDR will be the primary government agency responsible for disaster risk reduction and management (DRRM), climate adaptation, emergency response, and long-term recovery.
The DDR will lead in preparing, coordinating, and implementing national and local disaster resilience efforts, and will be equipped with the authority, technical know-how, and resources to respond decisively. It will cover all natural and biological hazards, including typhoons, earthquakes, pandemics, volcanic eruptions, and other climate-related threats.
Also, among the DDR’s key responsibilities are conducting risk assessments, building compliant evacuation centers, leading disaster recovery efforts, and developing early warning systems. It will likewise be tasked with coordinating with local governments, national agencies, and international partners, while providing timely support and information to affected communities.
“Given how natural disasters can seriously affect our country’s economic progress, it’s important for the government to put in place long-term strategies and practical
SC resets release of SSBE
By Joel R. San Juan
solutions to manage risks and help communities become less vulnerable,” Estrada said.
Alongside the creation of DDR, the veteran lawmaker is giving his proposed Disaster Food Bank and Stockpile Act another push.
Initially filed in the 19th Congress, the measure seeks to establish food and supply hubs in every province and highly urbanized city to ensure quick and effective delivery of aid during crises.
“Relief efforts are often delayed because of access issues. These food banks will bring help closer to those who need it most, especially in hard-to-reach and island communities,” Estrada said.
The local stockpiles will include non-perishable food, potable water, medical supplies, first-aid kits, power and light sources, tents, and communication devices. Warehouses will be calamity-proof, secure, and jointly managed by the National Disaster Risk Reduction and Management Council (NDRRMC) and the Department of Social Welfare and Development (DSWD).
“These food banks can spell the difference between life and death when disaster strikes,” said Estrada.
The bill also requires stored items to have a minimum shelf
life of two years, enough supplies to be maintained to support the local population for at least three weeks, and a first-in, first-out system be used to ensure timely use and replenishment of expiring goods. It also prioritizes implementation in island municipalities, 4th to 5th class LGUs, and hard-to-reach areas.
Both proposals reflect Estrada’s broader vision of a proactive, well-coordinated, and inclusive disaster governance system—one that harnesses science, community participation, and inter-agency collaboration to protect lives and build a culture of preparedness.
“Our people deserve a government that is ready not just to respond, but to anticipate and act. With the creation of the Department of Disaster Resilience and the establishment of local food banks, we can ensure that no Filipino is left behind in times of need,” Estrada said.
As the chairperson of the Senate Committee on National Defense and Security, Estrada shepherded the passage of Republic Act No. 12076 or the “Ligtas Pinoy Centers Act,” a landmark measure establishing a network of permanent, storm-resilient evacuation centers nationwide.
(DSWD) has earmarked at least P360 million in assistance under the Ayuda Para sa Kapos ang Kita Program (Akap), along with family food packs and other essential relief items, for immediate distribution to 36 congressional districts heavily affected by Typhoon Crising and the intensified southwest monsoon.
The financial and relief assistance—coordinated through the office of Leyte Rep. Ferdinand Martin G. Romualdez, in partnership with Tingog Party-list group—will be released by the DSWD under the Social Welfare Secretary Rex Gatchalian.
Each district will receive P10 million in direct financial aid to support residents affected by flooding, displacement, and other calamity-related emergencies.
“This marks the beginning of our organized disaster response. This aid will go a long way, and this certainly won’t be the last. What’s important is that we feel the Marcos administration’s swift response,” said Romualdez.
In addition to the financial support, family food packs and Tingog hot meals have been prepared for evacuees currently sheltered in schools, covered courts, and other temporary evacuation centers.
“We want every affected Filipino family to know that in times of disaster, President Marcos’ government is here to help. This is a reminder that you are not alone— we’re with you every step of the way,” Romualdez added.
The 36 congressional districts set to benefit from the AKAP funds and relief operations are in Manila, Makati, Caloocan, Navotas, Quezon City, Taguig, Pasay, Muntinlupa, Valenzuela, Makati,
Parañaque, Malabon, Marikina, Pasig, Las Pinas, San Juan and Palawan.
The House of Representatives also reactivated their Relief Coordination Desk, a mechanism first used during the pandemic and in response to previous typhoons. The desk serves as a centralized link among national agencies, local responders, and lawmakers for effective aid distribution.
In Marikina, Tingog volunteers have already served hot meals to evacuees, with similar efforts underway in Quezon City and Manila as river levels continue to rise. Romualdez emphasized that the early allocation of AKAP funds and pre-positioning of relief goods is a direct result of lessons learned from previous disasters when delayed responses had serious repercussions.
Meanwhile, Gatchalian assured the public that the agency is fully prepared to respond to potential large-scale disasters as heavy rains continue across the country.
Gatchalian said that the DSWD has prepositioned three million family food packs (FFPs) in over 1,000 warehouses nationwide. In addition to the standard food packs, the DSWD is also distributing ready-to-eat food (RTEF) to families housed in evacuation centers, particularly those without functioning community kitchens Typhoon Crising and the southwest monsoon brought days of torrential rain to Luzon and nearby provinces, overwhelming drainage systems and displacing thousands of families. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) has warned of more rainfall in the coming days. With Jovee Marie N. dela Cruz
House on Marcos visit to US: Strategic diplomatic engagement
By Jovee Marie N. dela Cruz @joveemarie
THEHouse of Representatives on Tuesday described President Marcos’ official visit to the United States as a strategic diplomatic engagement with practical benefits for the Filipino people and affirmed its readiness to support the President’s initiatives through legislation.
“If the President is able to open a pathway toward tariff relief or a fairer trade deal, Congress will immediately move to provide the legislative support needed to protect and promote our economic interests,” he said.
“The House is ready to do its part. We will file pieces of legislation that will help uplift the lives of our farmers, workers, and entrepreneurs so that the country’s economic growth reaches every Filipino,” he said.
Leyte Rep. Ferdinand Martin G. Romualdez emphasized that the President’s trip comes at a crucial time, as new US tariffs on key Philippine exports are set to take effect on August 1—posing a serious threat to local industries and employment.
Palace suspends classes, work
PERSISTENT heavy rainfall caused by the southwest monsoon prompted Malacañang to suspend work in government offices and classes at all levels in Metro Manila and 36 other areas on Wednesday to ensure public safety.
In Memorandum Circular (MC) 90, Executive Secretary Lucas P. Bersamin granted the recommendation of the National Disaster Risk Reduction and Management Council (NDRRMC) for the said suspensions on July 23.
Aside from the National Capital Region (NCR), the suspensions covers Pangasinan, Zambales, Tarlac, Bataan, Pampanga, Bulacan, Cavite, Batangas, Rizal, Occidental Mindoro, Ilocos Norte, Ilocos Sur, La Union, Quezon, Oriental Mindoro, Marinduque, Romblon, Masbate.
Also affected by the suspension are Sorsogon, Albay, Camarines Sur, Catanduanes, Palawan, Antique, Aklan, Capiz, Iloilo, Guimaras, Abra, Mountain Province, Ifugao, Benguet, Nueva Vizcaya, Nueva Ecija, Laguna and Negros Occidental.
The issuance will not apply to agencies responsible for basic, vital and health services, preparedness and response. However, the “nonessential” employees of the said agencies may engage in approved alternate work arrangement. The local governments of areas, which are not included in MC 90 may implement localized cancellation of classes and government work. MC 90 also does not cover private companies, which will still have the discretion to impose work
A4 Wednesday, July 23, 2025
Economy
www.businessmirror.com.ph
ATM backs de Lima’s bill banning black sand mining
By Jonathan L. Mayuga @jonlmayuga
ANTI-MINING group Alyansa Tigil Mina expressed support on Tuesday for the bill mandating a ban ton he extraction of magnetite sand, also known as black sand.
“Alyansa Tigil Mina fully supports the filing of House Bill [HB] 1843, or the Anti-Black Sand Mining bill, by Mamamayang Liberal Rep. Leila M. de Lima. We are glad she cited scientific
and testimonial evidence from affected communities by blacksand mining operations in Cagayan,” Jaybee Garganera, national coordinator of ATM, said. Garganera said the Department
of Environment and Natural Resources (DENR) does not have adequate policies, personnel, technical knowledge, and funding to effectively regulate black-sand mining operations.
Moreover, Garganera said local governments (LGU), have by themselves, opposed black-sand and coastal mining in their localities owing to the adverse effects it brings.
“This bill is also timely as we have seen the rise of offshore mining and seabed quarrying in Zambales, Mindoro, Cavite, Negros Occidental, and Leyte. We also call on the national government to stop illegal coastal mining disguised as river dredging projects in Cagayan, Zambales, and Mindoro,” he said.
In her explanatory note in fil -
ing HB 1843, de Lima said studies by environmental groups showed that black sand mining operations contributed to the depletion of fisheries, erosion of land, and severe flooding in coastal and riverside communities.
Black sand mining, environmental groups lamented, was supposed to be banned, but the DENR has allowed river dredging, thereby allowing black sand mining in the guise of flood-control activities.
De Lima’s bill is seen to strengthen the advocacy of fishermen’s organizations such as Pamalakaya, which have long protested dredging operations in the Cagayan River.
These groups claim that Chinese-led dredging activities in the area are merely disguising
PTRI: Mindanao, Cordillera lead in handloom communities
By Bless Aubrey Ogerio
THE majority of handloom
weaving communities in the Philippines are located in Mindanao and the Cordillera Administrative Region (CAR), the Philippine Textile Research Institute (PTRI) reported.
In a media forum on Monday, PTRI Director Julius Leaño Jr. cited data from the institution’s SalinHABI digital platform, which has recorded around 500 handloom weaving communities across the country.
Roughly half of these are in Mindanao, while about 40 percent are in the Cordilleras. The remain -
Meralco rushes service restoration
THE Manila Electric Company (Meralco) has restored electricity service to more customers affected by southwest monsoon rains.
As of Tuesday afternoon, customers affected by power outages have significantly been reduced to around 90,000 coming from over 167,000 affected.
Majority of the affected customers are in Metro Manila, Cavite, and Bulacan while the rest are in Rizal, Quezon, Laguna, and Batangas.
Around 86 percent of affected customers are in flooded areas.
“We continue to actively monitor the weather situation in light of persisting rains in parts of our franchise area. We ask our customers for patience and understanding as we have to prioritize safety during the conduct of power restoration activities,” Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga said.
Meralco also reminded the public to practice electrical safety measures especially when there is flooding. Lenie
ing communities are scattered throughout Luzon and the Visayas.
“It’s a very strong rebounding industry,” Leaño said. “We’re able to preserve culture because [handwoven fabrics] serve as documentation of traditional patterns… If a community says, ‘Oh, this is not for public consumption,’ then we protect it as part of their cultural property.”
“Moreover, individual handloom weavers now exceed 6,000,” he noted.
The SalinHABI database, which tracks not only names and locations but also skill sets and capabilities, was developed as a tool to support both documentation
and community-linked program planning.
On one hand, recent changes in the demographic profile of weavers were also highlighted, particularly the increasing participation of younger individuals and male artisans.
“This is the changing demography of weaving. Before, it was mostly older women… But based on new data, we’re now seeing second-generation weavers taking part,” the PTRI director added in Filipino.
To support the evolving sector, PTRI launched the Philippine Handloom Weaving Innovation Center on July 7 in Taguig. The
facility, according to Leaño, aims to centralize training, research and digital coordination among weaving communities nationwide.
Among its offerings are TESDAaccredited training programs, including the recent certification of 23 new handloom weavers under the NC II qualification for upright handloom weaving. Product design modules and digital fabrication support are also available.
The textile institution also introduced a system that allows weavers in remote areas to receive digital blueprints for loom parts that can be 3D-printed locally, reducing the need for custom manufacturing in Metro Manila.
First Balfour employees plant trees to mark Arbor Day 2025
HUNDREDS of employees of First Balfour Inc., the Lopez Group’s construction and engineering arm, held recently a week-long series of tree-planting activities in various project sites around the country to mark this year’s international observance of Arbor Day.
The First Balfour employees, who are stationed in various job sites in Luzon, the Visayas and Mindanao, planted more than 4,000 tree saplings late in June 2025, bringing to 25,000 the number of trees that First Balfour employees have planted since it joined the Arbor Day celebration in 2013.
The saplings were selected for the
ecological value, resilience, and ability of the trees to thrive in their respective planting sites. These included narra, molave and yakal trees, the Philippine oak or takpan, damson plum or kalumpit, mangroves or bakawan, pili and soursop or guyabano.
The First Balfour activities also support the massive, long-term Lopez Group reforestation program, known as Binhi. Led by the country’s leading clean energy provider First Gen Corporation and its renewable energy subsidiary Energy Development Corporation (EDC), Binhi aims to plant 10 million trees in selected sites around the country.
Most of these year’s treeplanting activities of First Balfour took place near sites where First Balfour is also contracted to build power plant-related
projects of EDC. These locations included Kananga, Leyte; Barangay Amomonting in Castila, Sorsogon; Sibulan, Negros Oriental; Maco, Davao de Oro; and Pasuquin, Ilocos Norte. Their other tree-planting locations included La Mesa Dam in Quezon City and Wawa Dam in Montalban, Rizal.
EDC, which is the country’s largest producer of geothermal energy, implements various programs to protect and enhance the forests surrounding its geothermal power plants. The trees play a vital role in retaining water that EDC needs to run its geothermal power plants.
For First Balfour, its tree-planting initiative has become a key part of the company’s sustainability efforts and reflects its commitment to environmental protection and climate action.
Ateneo de Zamboanga University, Zamboanga City, Zamboanga del Sur, Mindanao.
Kho, Jr., also led the rollout of a translation software application that facilitated the translation of the English exam questions to Arabic and the checking of the digitally transmitted answers to English with the guidance of Arabic human translators.
black sand extraction as river rehabilitation.
De Lima warned that black sand mining poses long-term risks, saying scientific studies predict that areas subjected to magnetite extraction may experience subsidence and be submerged within 30 years to 70 years, making them increasingly vulnerable to floods and typhoons.
Cagayan province was cited as a prime example in the bill.
In a 2013 news conference, Ofelia Fuentes of the Samahan ng Kababaihan sa Buguey at Santa Teresita described the adverse effects of black sand mining in the area: “Houses are collapsing due to sand erosion, rice fields are shrinking and turning saline, and fish catches have drastically declined.”
According to the MGB, black sand—also called magnetite— is a dark, heavy mineral deposit formed from the weathering of volcanic rocks, commonly found along coastlines and river deltas. It plays a crucial ecological role by keeping land and freshwater aquifers protected from seawater intrusion.
However, magnetite is also highly profitable. It is widely used in the manufacture of steel, concrete, magnets, paint, ink, paper, cosmetics, and jewelry, making it a sought-after export product in countries like China, Taiwan, and South Korea.
De Lima’s proposed measure also cites reports that black sand mining operations could cause serious health issues, particularly skin and lung diseases.
PhilRice to farmers: Ramp up surveillance vs pests, diseases
THE Philippine Rice Research Institute (PhilRice) urged farmers in major riceproducing regions to ramp up field surveillance as wet - s eason weather usually fuels pest and disease outbreaks.
In a statement, the agency noted that a Bureau of Plant Industry (BPI) report flags brown planthopper (BPH), bacterial leaf blight (BLB), rice blast, rice stemborer, and rodents as leading threats to rice in Central Luzon and the Bicol Region during the third quarter. Central Luzon remained the country’s top rice-producing region in 2024, based on Philippine Statistics Authority (PSA) data.
“Cloudy, rainy days with temperatures of 25 - 3 0 °C are ideal for brown planthopper outbreaks. We expect heavier infestations and more cases of hopperburn,” PhilRice crop - pr otection specialist Leonardo Marquez said.
He called on growers to plant pest - r esistant varieties, synchronise sowing dates, keep paddies weed - f ree, alternate wetting and drying, and apply fertilizer judiciously to curb pest buildup.
In addition, Marquez noted that stemborer pressure could also increase since rainfall prompts back- t o - b ack cropping and short
fallow periods that allow the insect to persist.
Rodent damage is projected to peak in Mindanao’s Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), where continuous rains spur weed growth and reproduction, and to be lowest in the typically drier Ilocos Region.
However, PhilRice said pest timing varies. BPH, BLB and blast can strike from tillering until just before harvest, while stemborers may attack as early as seedling stage. It added that rodents threaten fields from sowing to harvest, especially as panicles mature.
“If the cost of control outweighs the expected gain, it may be wiser to wait and prepare for the next season,” Marquez said. The Philippines is targeting to produce 20.46 million metric tons (MMT) of rice this year, a figure that would surpass the record-high 20.06 MMT posted in 2023. The government intends to do this by improving yield.
Last year, data from the PSA showed that paddy rice production fell by 4.8 percent to 19.087 MMT, from the 20.059 MMT recorded in 2023. Output in 2024 was even lower than the 19.96 MMT posted in 2021. Ada Pelonia
The House leader praised the government’s efforts to attract investments in high-impact sectors such as energy, manufacturing, and digital infrastructure—areas with the potential to generate thousands of jobs and lift communities out of poverty.
“These investment opportunities aren’t just for big corporations—they’re for young people looking for jobs and families hoping for a better future,” Romualdez said.
Romualdez welcomed reports that Marcos is pursuing a bilateral trade agreement with the United States and emphasized that such deals must be rooted in fairness and mutual respect.
“This is where visionary leadership matters,” Romualdez said.
“Our national defense is not just a geopolitical issue—it’s about protecting our fishermen, securing our food supply, and asserting the dignity of every Filipino family who calls the sea their home,” Romualdez explained. He assured that the House of Representatives is ready to pass enabling laws to ensure that any agreements reached during the President’s visit are translated into real benefits for Filipinos.
“As the President builds bridges across borders, our role in Congress is to build ladders of opportunity here at home,” Romualdez said.
“This isn’t about politics—it’s about our nation’s future. We must be at the table not as a junior partner, but as a trusted and equal ally.” He also stressed the need to complement economic diplomacy with strengthened defense partnerships, especially amid continued Chinese incursions in the West Philippine Sea.
and class suspension on Monday afternoon. It declared a similar suspension the following day as many parts of the country are still affected by floods and landslides caused by the southwest monsoon. Samuel P. Medenilla across the country. Kho added that it was the first time that the SSBE was conducted in various centers such as the University of the Philippines—Diliman, Quezon City . Mindanao State University— Iligan Institute of Technology Iligan City, Lanao del Norte, Mindanao; Ateneo de Davao University, Davao City, Davao del Sur, Mindanao ; and
The magistrate noted that this year’s examinees were able to type their responses in Arabic using an Arabic keyboard—another first in SSBE history.
suspension for their employees.
The Palace started implementing the government work
Lectura
Balfour employees constructing
battery energy story system for EDC in Valencia, Negros Oriental, get ready with digging tools and tree saplings for the start of their tree-planting activity around the Balinsasayao Lake in Sibulan, Negros Oriental. Hundreds of First Balfour, stationed in various job sites in Luzon, Visayas and Mindanao, planted more than 4,000 tree saplings in late June 2025 to mark this year’s observance of Arbor Day.
A First Balfour employee inserts a mangrove sapling to the ground during a tree-planting activity in Pasuguin, Ilocos Norte. Hundreds of First Balfour employees stationed in various job sites in Luzon, Visayas and Mindanao planted more than 4,000 tree saplings in late June 2025 to mark this year’s observance of Arbor Day.
South Korean envoy renews confidence in PHL tourism
LBy Joel C. Paredes
OOKING at the Philippines’ sincere actions to address issues affecting Korean tourism, South Korea’s Ambassador to the Philippines expressed confidence on Tuesday that the country will again become a favored destination for Korean visitors.
“In terms of easing concerns over safety and security, we are pretty sure that Korean tourists will regain their confidence in the Philippines as one of the best tourist destinations,” Ambassador Lee Sang-hwa remarked over lunch with a group of journalists.
While raising “some unfortunate incidents” affecting the safety of its citizens in the Philippines, the ambassador noted
that they have never issued a negative travel advisory. “We haven’t changed anything,” he said.
The ambassador, however, confided that he went with the director of the National Bureau of Investigation to Pampanga, where a South Korean tourist was fatally shot last April 20 during a robbery attempt in broad daylight along Angeles City’s bustling Korean Town area. The victim reportedly resisted when suspects on a motorcycle tried to snatch his bag, and he was shot in the torso. One suspect was later arrested.
“It was to alleviate the concerns of the safety situation on the ground. That sent a strong signal and was very warmly received by the Korean community,” he said.
“Again, I appreciate the full cooperation from the Philippine authorities,” he added.
Micronesia to welcome more Filipino workers under new labor agreement
By Samuel P. Medenilla
@sam_medenilla
HE Department of Migrant Workers
T(DMW) are now a step closer towards forging a new memorandum of understanding (MOU) for the sustainable deployment of Filipino skilled workers in the Federal State of Micronesia (FSM).
DMW Secretary Hans J. Cacdac signed the Joint Declaration of Intent with FSM Justice Secretary and Attorney General Leonito Bacalando Jr. for the MOU last Monday. He noted that the JDI will allow the deployment of Filipino workers in Micronesia’s key sectors, such as construction, health, academe, and services.
The JDI has provisions for the skills certification and matching of OFWs and upholding their labour rights and social protection in the FSM.
“We will continue working towards a full Memorandum of Understanding that guarantees safe and fair employment for our OFWs,” Cacdac said.
Bacalando welcomed the JDI since it will also help boost FSM’s partnership with the Philippines against illegal recruitment, trafficking in persons, smuggling of migrants, and document fraud.
“This is a great step forward, the signing. Thank you so much for your solidarity on the subject matter. Filipino contributions are valuable to our nation’s development,” Bacalando said.
Cacdac said they are targeting to finalize the MOU by late September to increase the number of deployed overseas Filipino workers (OFW) to FSM. Based on DMW data, a total of 1,891 OFW were deployed to FSM from 2015 to 2024, a total of 1,891.
MRT-7 PMO: Construction not to blame for Commonwealth Avenue flooding
THE MRT-7 Project Management Office (MRT-7 PMO) clarified on Tuesday that its facilities near Batasan Station on Commonwealth Avenue are not the cause of the flooding that occurred in the area, following renewed statements linking the incident in part to the ongoing project.
All MRT-7 structures in the area, including columns and footings, were built outside existing drainage lines and do not obstruct the natural flow of water. These were constructed with full consideration of the drainage layout and in compliance with approved engineering plans. Concerns that were raised about a manhole constructed along the drainage line have also been reviewed. Based on design, simulation, and on-site inspection, the manhole does not interfere with water flow inside the pipe culverts.
While construction during earlier phases of the project did affect a section of the drainage system, this was fully coordinated with the Department of Public Works and Highways (DPWH). The affected segment was restored upon completion, and on March 3, 2025, the DPWH Quezon City 1st District Engineering Office certified that the drainage was “100% completely restored in accordance with standard plans and specifications.”
Following the most recent flooding, MRT-7
engineers inspected the area and found the drainage outlet to be heavily clogged with plastic waste and debris. This significantly reduced the system’s capacity to carry rainwater, which likely contributed to surface flooding. At a recent interagency meeting attended by DPWH and the Metropolitan Manila Development Authority (MMDA), MRT-7 PMO requested any documentation that might indicate obstructions caused by the project. As of today, no such documents have been provided. Flooding in Metro Manila is a longstanding and complex issue, often rooted in poor waste disposal and inadequate maintenance of drainage systems. MRT-7 PMO believes it’s important to approach the matter with a common understanding and a focus on long-term solutions. Through its parent company San Miguel Corporation’s Better Rivers PH program, MRT-7 is contributing to efforts to reduce flooding by cleaning up heavily silted and polluted waterways. To date, more than 8.5 million metric tons of waste have been removed from rivers across Metro Manila and nearby provinces. MRT-7 PMO said it remains supportive of the MMDA, DPWH, and local governments in initiatives that promote sustainable drainage solutions, improved waste management, and flood resilience.
DAR, PNP lead partnership deal to fight hunger, support farmers
THE Department of Agrarian Reform (DAR) and the Philippine National Police (PNP), along with key government agencies, have formalized an interagency partnership to combat hunger and improve the lives of farmers in the Bicol Region.
A memorandum of understanding (MOU) was signed at Camp BGen. Simeon A. Ola in Legazpi City, Albay, with officials from the Department of Agriculture (DA), Department of Trade and Industry (DTI), Department of Labor and Employment (DOLE), National Irrigation Administration (NIA), and Albay Provincial Agricultural Office, to formally strengthen their partnership with the DAR and the PNP. Spearheaded b y Police Regional Office V (PRO 5), the interagency alliance is anchored on the Partnership Against Hunger and Poverty (PAHP) and supports initiatives like the Kadiwa ng Pangulo and Agraryo Merkado sa Kampo that aim to ensure food security, enhance agricultural productivity, expand market access, and drive inclusive economic growth in Bicol’s rural communities. With this set-up, farmers will have sure buyers for their produce, including agricultural products and by-products.
PRO 5 Regional D irector PBGen. Andre P. Dizon affirmed the PNP’s dedication to championing the welfare of Bicolanos, especially the Agrarian Reform Beneficiaries (ARBs).
You can count on our continued cooperation with our partner agencies in advancing economic growth and improving the lives of our people,” PBGen Dizon said. For DAR Region V, this partnership creates more opportunities for Agrarian Reform Beneficiaries Organizations (ARBOs) to sell their local produce directly to consumers. Since its launch on December 13, 2023, the Agraryo Merkado sa Kampo has generated P397,738.00 in sales as of May 2025, demonstrating the tangible benefits of inter-agency collaboration.
“We sincerely thank PRO 5 for their initiative in organizing a unified collaboration for the Kadiwa ng Pangulo and Agraryo Merkado sa Kampo. This is yet another meaningful initiative that will truly benefit and uplift our ARBs,” said DAR Region V Regional Director Reuben Theodore C. Sindac. Jonathan L. Mayuga
Then in May, he reported visiting Bohol, a popular international resort island province, where he saw a tourist center where local policemen were basically assisting foreign tourists. Upon his return, he said he shared that information, noting that Tourism Secretary Cristina Frasco was “very enthusiastic” in promoting tourism assistance centers.
After the South Korean embassy raised serious security concerns with Philippine authorities, the Department of Tourism (DOT) and the Philippine National Police (PNP) were reported to have intensified efforts to ensure tourist safety, including deploying Koreanspeaking police officers and increasing police visibility in tourist areas.
“We are proud to say that Korea has been Number One among incoming tourists.
We hope that trend will continue,” he said.
Despite the recent decline in Korean tourists, South Korea remains the Philippines’ largest source of tourists. In the first five months of 2025, while there was a reported drop of 19 percent, South Koreans still accounted for 552,000 visitors. In 2024, South Koreans were also the largest source of arrivals with 1.76 million visitors.
With the current coordination between the two governments in terms of alleviating concerns, the Korean envoy said, “We are more than willing to increase the number of policemen willing to learn Korean,” through the Korean Cultural Center.
Flood projects
MEANWHILE Ambassador Lee highlighted ongoing initiatives and expressed optimism
for future collaborations between the two countries, initially citing how inquiries on flood-related projects are being addressed.
He recalled traveling with President Marcos last year to Pampanga for the inauguration of a flood control system, noting, “The second stage flood control system in Pampanga, we hope to undertake the second phase soon.” This initiative is part of broader Official Development Assistance (ODA) projects across the Philippines.
“Last year, think I am one of the few ambassadors who traveled most often with the President,” he said, citing a trip to Mindanao in September for the longest sea bridge. For this year, Ambassador Lee revealed plans for additional contributions to “other flagship projects, including Batang Cavite, Interlink Bridge, PGN, and Laguna
Lake Shore Road.”
The envoy also expressed South Korea’s strong interest in joining the “Luzon Economic Corridor,” an initiative championed by the Philippines, US and Japan. “We are pleased that since the Trump administration, there was a clear indication from Washington that the Luzon Economic Corridor will continue. We are happy with that,” he said.
He underscored Korea’s commitment by revealing that last year in November, Korea, with a few other countries, was invited to the third steering committee of the Luzon Economic Corridor. This invitation, he explained, “showed that Korea stands a good chance in making a collaboration, a partnership with the founding countries, US, Japan, and the Philippines.”
DOH prioritizes health of habagat evacuees, promises free medicines
SBy Claudeth Mocon-Ciriaco @claudethmc3
TRESSING that the people’s health is their priority, the Department of Health (DOH) on Tuesday assured that free medicines for diabetes and hypertension maintenance, Doxycycline, and vitamins will be given to the evacuees affected
by the southwest monsoon or Habagat. Health Secretary Teodoro Herbosa said that antibiotics, medicine for cough, and first- aid kits will also be distributed to the local government units (LGUs) affected by the torrential rains and flooding.
On Tuesday, Herbosa personally went to Nangka Elementary School in Marikina City wherein 502 families were evacuated
or 2,407 individuals. Herbosa also visited H. Bautista Elementary School wherein 693 families or 3,880 inviduals are seeking temporary shelter.
Herbosa also inspected the WASH facilities in both schools.
He also checked if the foods being provided at the evacuation centers are nutritious.
DOH Assistant Secretary and spokesperson Albert Domingo, meanwhile, has reminded the public to evacuate immediately if there is a danger of flooding.
“Kapag sinabi ng kapitan, mayor, o gobernador na evacuate, lumikas na po para makaiwas sa sakuna. Tandaan ang rescue hotlines: 911 sa national, 1555 sa DOH,” he said.
Freshman lawmakers eye ‘Fair Wage Bloc’ to push for living wage and labor reforms
ALAWMAKER is setting the stage for a potential coalition of first-term members of the House of Representatives united by a common cause—fair wages and labor reform.
Dubbed the “Fair Wage Bloc,” Albay 3rd District Rep. Raymond Adrian Salceda said the group is envisioned as an issue-based alliance within Congress that will advocate for policies aimed at protecting workers and ensuring equitable pay.
At the forefront of this push is House
Bill 55, or the Equal Pay for Equal Work Act, authored by Salceda. The measure seeks to dismantle regional wage boards and implement a single national living wage within five years.
Salceda said he is actively engaging with fellow freshman legislators, including Manggagawa Partylist Rep. Eli San Fernando, who has also filed a similar Fair Wage proposal.
“We are already talking to other freshmen. So I expect this bloc to have a good
RECOGNIZING the dangers faced by Filipinos on the frontlines of calamities,
Senator Christopher “Bong” Go has filed Senate Bill No. 669 at the start of the 20th Congress to amend Republic Act No. 10121, or the “Philippine Disaster Risk Reduction and Management Act of 2010.”
The proposed measure aims to grant hazard pay to disaster response personnel and accredited community disaster volunteers during a declared state of calamity—and crucially, ensure that this hazard pay will be tax-exempt.
Go stressed that the Philippines’ geographical location makes it one of the most disaster-prone countries in the world. As major parts of the currently are experiencing inclement weather now, once again, disaster response personnel are risking their lives to save others.
“The Philippines is prone to tropical cyclones due to its geographical location which often results in casualties to human life and destruction to crops and properties,” he explained.
“Additionally, the Philippines is also one of the most vulnerable countries when it
comes to volcanic eruptions and earthquakes as it is located along the ‘Pacific Ring of Fire’ where earthquakes and volcanic activities are relatively frequent due to plate tectonic movements,” he added.
Framing the bill as a necessary recognition of their sacrifice, Go underscored the heroism of first responders and emergency personnel who put their lives on the line in every disaster.
“At the forefront of the response to these disasters are the first responders, first aiders, emergency care workers, and emergency response teams. Blood, sweat, tears, and lives were sacrificed in the line of service to save another,” he said.
“For this reason, it is just proper to compensate the efforts of the emergency frontliners. These modern-day heroes sacrifice their lives for others and help mitigate negative impacts caused by calamities,” he continued in the bill’s explanatory note.
This call for fair compensation and better benefits for frontliners echoes Go’s earlier move during the 19th Congress when he co-sponsored Senate Resolution No. 233, honoring the five heroic members of the Bulacan Provincial Disaster Risk Reduction
households in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) reported the lowest average monthly internet spending at P583.
and 4.3 percent believed using the internet will lead to exposure to harmful content. Other reasons presented accounted for 7.4 percent.
Based on the survey, Filipino households who had internet at home spent an average of P1,069.10 per month on internet connection in 2024. This was P211.49 lower than the reported average monthly internet expense of P1,280.59 in 2019.
The PSA said among the regions,
Households in Metro Manila, meanwhile, recorded the highest average monthly spending on internet connection at P1,290.90.
Among those who use the internet, the most common reason for going online is to make calls at 94.2 percent followed by participating in social networks, creating user profile, posting messages or other contributions.
20; it featured a “Grand Tasting” of dishes prepared by the different restaurants and celebrated chefs in Tagaytay, including TVH’s own F&B team.
A good cause
Salceda stressed that improving workers’ welfare is essential for achieving inclusive economic growth.
“Labor is the primary driving force of economic growth. Workers are also the consumers,” he said.
Jovee Marie N. Dela Cruz
enough number. I do not have to lead this. What matters is that we have a bloc, formal or informal, that consistently pushes this forward,” he added. While a national living wage is the group’s initial focus, discussions are expanding to cover a more comprehensive labor reform agenda, including wage parity and protections for women and vulnerable sectors, enhanced social protection, such as healthcare, unemployment insurance, and maternity benefits, stronger labor inspection and enforcement, particularly in the informal economy, protection of fundamental labor rights, including the right to organize and bargain collectively and safeguards for gig workers, including minimum pay standards and portable benefits.
Go seeks tax-exempt hazard pay for disaster response personnel during state of calamity
and Management Office (PDRRMO) who died on September 25, 2022, during Super Typhoon Karding.
These brave rescuers—George Agustin, Troy Justin Agustin, Marby Bartolome, Jerson Resurrecion, and Narciso Calayag Jr.—lost their lives while saving residents from rising floodwaters in San Miguel, Bulacan.
Go explained that SBN 669 seeks to amend RA 10121 so that local government units (LGUs) will be mandated to grant hazard pay to their disaster response personnel and volunteers during calamities if enacted into law.
“On account of risking their own lives to rescue and give aid to Filipinos affected by natural and man-made calamities, there is a need to amend the provisions of Republic Act No. 10121…to mandate the local government units [LGUs] to grant hazard pay to the personnel of their respective Local Disaster Risk Reduction and Management Offices [LDRRMOs] and Barangay Risk Reduction and Management Committees [BRRMCs], as well as all accredited community disaster volunteers [ACDVs] enlisted in their respective territorial jurisdictions during the State of Calamity declared by the President of the Philippines.”
Other top reasons for using the internet is to stream or download web images, movies, videos, or music at 63.6 percent; get information about goods or services; play or download games, 35.2 percent.
The reasons least cited were participating in professional networks at 4.4 percent; making an appointment with a health practitioner via the internet at 5.4 percent; and looking for a job, or sending/submitting a job application at 6.6 percent.
The PSA said in 2024, almost half or 48.8 percent or 13.56 million of the total households, had access to the internet at
The proposed law recommends that during the entirety of a declared state of calamity, all LDRRMO personnel, regardless of employment status, and all accredited volunteers, will be entitled to monthly hazard pay. Importantly, the bill proposes that this hazard pay shall not be subject to any tax, emphasizing that this is meant to serve as a direct incentive and acknowledgment of their hazardous work.
The measure also proposes the funding mechanism wherein the amount necessary for the implementation shall be charged against the funds of provincial LGUs who supervise qualified frontline personnel. Through this bill, Go seeks to institutionalize proper recognition and fair compensation for the risks shouldered by those who protect Filipinos in times of crisis—part of his larger advocacy for stronger disaster resilience nationwide.
Go’s legislative record reflects this commitment. He is the principal author and co-sponsor of Republic Act No. 12076, or the Ligtas Pinoy Centers Act, which mandates the establishment of permanent, disasterresilient evacuation centers nationwide.
home. This translated to an increase of 31.1 percentage points from the percentage of households with access to internet at home in 2019 at 17.7 percent. Across regions, the National Capital Region (NCR) and Central Luzon had the highest percentage of households with access to the internet at home at 68.7 percent and 61.3 percent, respectively. Meanwhile, Zamboanga Peninsula at 21.2 percent and BARMM at 27.7 percent reported the lowest percentages. Cai U. Ordinario also. So, next year is going to be so exciting,” she said. There are 10 function rooms, which include a 1,000-seat grand ballroom that can be split into three separate meeting spaces.
In this regard, Nepomuceno said TVH was pleased to host this year’s Tagaytay Food Festival from July 18 to
“ WHEN the organizer approached us, we said, ‘Yes, let’s do it together,’ because there are so many offerings within the Tagaytay food scene and we wanted to make sure that we were part of that concerted effort to promote our
restaurants. It’s really a destination of good food, very unique offerings, which we are highlighting this weekend,” she said. The hotel remains open for a continuing partership with the foodfest organizers led by Chefs Jayjay and Rhea SyCip (The Fatted Calf), “because we have the facilities. We just have to make it exciting every year so there’s something new to it. The group of restaurateurs, when they got together and talked,
can support them. We felt it was a
cause,” Nepomuceno averred.
Editor: Angel R. Calso
Swarms of Russian drones attack Ukraine nightly as Moscow puts emphasis on the deadly weapon
By The Associated Press
THE long-range Russian drones come in swarms each night, buzzing for hours over Ukraine by the hundreds, terrorizing the population and attacking targets from the industrial east to areas near its western border with Poland.
Russia now often batters Ukraine with more drones in a single night than it did during some entire months in 2024, and analysts say the barrages are likely to escalate. On July 8, Russia unleashed more than 700 drones— a record.
Some experts say that number could soon top 1,000 a day.
THE spike comes as US President Donald Trump has given Russia until early September to reach a ceasefire or face new sanctions— a timeframe Moscow is likely to use to inflict as much damage as possible on Ukraine.
Russia has sharply increased its drone output and appears to keep ramping it up. Initially importing Shahed drones from Iran early in the 3 1/2-year-old war, Russia has boosted its domestic production and upgraded the original design.
The Russian Defense Ministry says it’s turning its drone force into a separate military branch. It also has established a dedicated center for improving drone tactics and better training for those flying them.
Fighting ‘a war of drones’ RUSSIAN engineers have changed the original Iranian Shahed to increase its altitude and make it harder to intercept, according
to Russian military bloggers and Western analysts. Other modifications include making it more jamming-resistant and able to carry powerful thermobaric warheads. Some use artificial intelligence to operate autonomously.
The original Shahed and its Russian replica—called “Geran,” or “geranium”—have an engine to propel it at 180 kph (just over 110 mph). A faster jet version is reportedly in the works.
The Washington-based Institute for the Study of War noted that cooperation with China has allowed Russia to bypass Western sanctions on imports of electronics for drone production. Ukraine’s military intelligence estimates that Russia receives up to 65% of components for its Geran drones from China. Beijing rejects the claims.
Russia initially launched its production of the Iranian drones at factory in Alabuga, located in Tatarstan. An Associated Press investigation found employees at the Alabuga plant included young African women who said they were duped into taking jobs there. Geran production later began at a plant in Udmurtia, west of the Ural Mountains. Ukraine has launched drone attacks on both factories but failed to derail production.
A report Sunday by staterun Zvezda TV described the Alabuga factory as the world’s biggest attack drone plant.
“It’s a war of drones. We are ready for it,” said plant director Timur Shagivaleyev, adding it produces all components, including engines and electronics, and has its own training school.
The report showed hundreds of black Geran drones stacked in an assembly shop decorated with Soviet-style posters. One featured images of the father of the Soviet nuclear bomb, Igor Kurchatov, legendary Soviet space program chief, Sergei Korolyov, and dictator Josef Stalin, with the words: “Kurchatov, Korolyov and Stalin live in your DNA.”
Shifting tactics and defenses
THE Russian military has improved its tactics, increasingly using decoy drones named “Gerbera” for a type of daisy. They closely resemble the attack drones and are intended to confuse Ukrainian defenses and distract attention from their more deadly twins.
By using large numbers of drones in one attack, Russia seeks to overwhelm Ukrainian air defenses and keep them from targeting more expensive cruise and ballistic missiles that Moscow often uses alongside the drones to hit targets like key infrastructure facilities, air defense batteries and air bases.
Former Russian Defense Ministry press officer Mikhail Zvinchuk, who runs a popular war blog, noted the Russian military has learned to focus on a few targets to maximize the impact. The drones can roam Ukraine’s skies for hours, zigzagging past defenses, he wrote.
“Our defense industries’ output allows massive strikes on practically a daily basis without the need for breaks to accumulate the neces -
sary resources,” said another military blogger, Alexander Kots. “We no longer spread our fingers but hit with a punching fist in one spot to make sure we hit the targets.” Ukraine relies on mobile teams armed with machine guns as a low-cost response to the drones to spare the use of expensive Western-supplied air defense missiles. It also has developed interceptor drones and is working to scale up production, but the steady rise in Russian attacks is straining its defenses.
How Russia affords all those drones DESPITE international sanctions and a growing load on its economy, Russia’s military spending this year has risen 3.4% over 2024, according to the Stockholm International Peace Research Institute, which estimated it at the equivalent of about $200 billion. While budgetary pressures could increase, it said, the current spending level is manageable for the Kremlin.
Over 1.5 million drones of various types were delivered to the military last year, said President Vladimir Putin.
Frontelligence Insight, a Ukraine-based open-source intelligence organization, reported this month that Russia launched more than 28,000 Shahed and Geran drones since the full-scale invasion began in 2022, with 10% of the total fired last month alone.
While ballistic and cruise missiles are faster and pack a bigger punch, they cost millions and are available only in limited quantities. A Geran drone costs only tens of thousands of dollars—a fraction of a ballistic missile.
The drones’ range of about 2,000 kilometers (1,240 miles) allows them to bypass some defenses, and a relatively big load of 40 kilograms (88 pounds) of explosives makes them a highly effective instrument of what the Center for Strategic and International Studies calls “a cruel attritional logic.”
CSIS called them “the most cost-effective munition in Russia’s firepower strike arsenal.”
“Russia’s plan is to intimidate our society,” Ukrainian President Volodymyr Zelenskyy said, adding that Moscow seeks to launch 700 to 1,000 drones a day. Over the weekend, German Maj. Gen. Christian Freuding said in an interview
that Russia aims for a capability of launching 2,000 drones in one attack.
Russia could make drone force its own military branch ALONG the more than 1,000-kilometer (600-mile) front line, short-range attack drones have become prolific and transformed the fighting, quickly spotting and targeting troops and weapons within a 10-kilometer (6-mile) kill zone.
Russian drone units initially were set on the initiative of midlevel commanders and often relied on equipment purchased with private donations. Once drones became available in big numbers, the military moved last fall to put those units under a single command.
Putin has endorsed the Defense Ministry’s proposal to make drones a separate branch of the armed forces, dubbed the Unmanned Systems Troops.
Russia has increasingly focused on battlefield drones that use thin fiber optic cables, making them immune to jamming and have an extended range of 25 kilometers (over 15 miles). It also has set up Rubicon, a center to train drone operators and develop the best tactics.
Such fiber optic drones used by both sides can venture deeper into rear areas, targeting supply, support and command structures that until recently were deemed safe.
Michael Kofman, a military expert with the Carnegie Endowment for International Peace, said the Russian advancements have raised new defensive challenges for Ukraine.
“The Ukrainian military has to evolve ways of protecting the rear, entrenching at a much greater depth,” Kofman said in a recent podcast.
Bangladesh Air Force training aircraft crashes into school, claiming 27 lives
DBy Julhas Alam
HAKA, Bangladesh—
A Bangladesh Air Force training aircraft crashed into a school in the nation’s capital Monday afternoon, killing the pilot and 26 other people, most of whom were students, officials said.
The crash caused a fire that left the two-story building in Dhaka smoldering. Officials said 171 people, mostly students and many with burns, were rescued and taken from the scene in helicopters, ambulances, motorized rickshaws and in the arms of firefighters and parents.
Twenty deaths were reported initially, and seven died of their injuries overnight, authorities said Tuesday morning. Doctors said late Monday that the condition of about two dozen injured remained critical.
On Tuesday, 78 people, mostly students, remained hospitalized.
Twenty bodies have been handed over to their families. Some of the charred bodies were beyond recognition and they might need DNA tests for matching. A blood donation camp has been opened at a specialized burn hospital where
most of the injured were being treated.
Maherin Chowdhury, a teacher who rescued more than 20 students from the burning school, died from severe burn injuries, her colleague Tanzina Tanu said.
The Chinese-made F-7 BGI training aircraft experienced a “technical malfunction” moments after takeoff at 1:06 p.m., and the pilot attempted to divert the plane to a less populated area before crashing into the campus of Milestone School and College, according to a statement from the military.
But it remained unclear how the pilot died: whether he was inside the jet or ejected himself before it hit the building. The military did not provide any details on that.
Many relatives waited overnight at a specialized burn hospital for bodies of their loved ones.
Around midnight, Mohammed Abdur Rahim was looking for his cousin Afia Akter in a hospital. “We could not find my cousin. She is missing. Doctors here have asked us to go to other hospitals,” he told The Associated Press.
Students said the school’s buildings trembled violently, followed by a big explosion that sent them running for safety. A desperate scene soon unfolded at the crash site, as panicked relatives searched for loved ones. Screams filled the air at a nearby hospital.
The Milestone school is in Dhaka’s Uttara neighborhood, about an 11-kilometer (7-mile) drive from the A.K. Khandaker air force
base. The school is in a densely populated area near a metro station and numerous shops and homes.
The pilot, Flight Lt. Mohammed Toukir Islam, made “every effort to divert the aircraft away from densely populated areas toward a more sparsely inhabited location,” the military said, adding that it would investigate the cause of the crash.
Local media said it was the pilot’s solo flight as he was completing his training course.
It is the deadliest plane crash in the Bangladeshi capital in recent memory. In 2008, another F-7 training jet crashed outside Dhaka, killing its pilot, who had ejected after he discovered a technical problem.
The government announced a day of mourning Tuesday, with flags to fly at half-staff across the country.
Mosammat Sagorika, who scored four goals Monday to defeat Nepal in an under 20 women’s South Asian soccer championship match, dedicated the country’s win to the crash victims.
“Many people have died, and many are injured. So, we all are sad,” the 17-year-old Sagorika told reporters.
Bangladeshi cricket all-rounder Shakib Al Hasan and other leading cricketers also expressed their shock.
Another father described his feeling of helplessness while waiting to learn the fate of his daughter.
“The plane crashed on the building where my daughter was. My wife called me, but I was praying so I could not pick up,” Jewel, who goes by one name, said at the scene.
“When I came here, I saw there was a huge fire. There was a dead body of a child.”
Luckily, his daughter was safe, he said, but he saw many other
At the crash site Monday afternoon, a father sprinted with his daughter cradled in his arms. A mother cried out, having found her younger child, but desperately searched for her older one.
See “Bangladesh,”
Israeli forces push into parts of a central Gaza city that the war had largely spared
By Wafaa Shurafa, Melanie Lidman & Samy Magdy The Associated Press
DEIR AL-BALAH, Gaza Strip—
Israeli troops for the first time Monday pushed into areas of a central Gaza city where several aid groups are based, in what appeared to be the latest effort to carve up the Palestinian territory with military corridors.
Deir al-Balah is the only Gaza city that has not seen major ground operations or suffered widespread devastation in 21 months of war, leading to speculation that the Hamas militant group holds large numbers of hostages there. The main group representing hostages’ families said it was “shocked and alarmed” by the incursion and demanded answers from Israeli leaders.
Israel says the seizure of territory in Gaza is aimed at pressuring Hamas to release hostages, but it is a major point of contention in ongoing ceasefire talks.
The UN food agency, meanwhile, accused Israeli forces of firing on a crowd of Palestinians seeking humanitarian aid over the weekend. The Gaza Health Ministry called it one of the deadliest attacks on aid-seekers in the war that has driven the territory to the brink of famine.
In the latest sign of international frustration, the United Kingdom, France and 23 other Western-aligned countries issued a statement saying “the war in Gaza must end now.” They harshly criticized Israel’s restrictions on humanitarian aid and called for the release of the 50 hostages remaining in Gaza.
Evacuation orders dropped at dawn
THE Associated Press reporters heard explosions and saw smoke rising from parts of the city that were ordered evacuated on Sunday.
The Israeli military official, speaking on condition of anonymity in line with regulations, said it was the first time ground troops had operated in the area.
A man living in the evacuation zone, who spoke on condition of anonymity for fear of retribution, said Israel dropped pamphlets at dawn ordering people to evacuate. Two hours later, tanks rolled into the area.
He said his 62-year-old father, who had spent the night elsewhere, fled from house to house as Israeli forces moved in and saw them flattening structures with bulldozers and tanks. Both men managed to leave the evacuation zone.
WHO says Israel raided its compound and detained staff
THE World Health Organization said Israeli forces raided its main staff residence in Deir al-Balah, forcing women and children to evacuate on foot toward the coast.
“Male staff and family members were handcuffed, stripped, inter -
rogated on the spot and screened at gunpoint,” the UN health agency said in a statement. It said two staff and two family members were detained, with three later released and one still being held.
The WHO said its main warehouse in the city, which is in the evacuation zone, was damaged by an explosion and a fire, hurting the agency’s ability to help hospitals and emergency medical teams. There was no immediate comment from the Israeli military.
United Nations spokesperson Stephane Dujarric had earlier said two UN guesthouses in Deir alBalah were damaged by shrapnel. He said the cause was still being investigated but that heavy Israeli airstrikes had been reported in the area. Local and international staff will continue to work there, he said.
The military declined to say if it had ordered the evacuation of aid groups based in the city, saying only that it maintains continuous contact with them and facilitates their relocation when necessary.
Separately, the military announced that a 19-year-old soldier was killed and an officer was severely wounded in combat in southern Gaza.
UN says nearly 90% of Gaza is now off limits
TENS of thousands of people have sought refuge in Deir al-Balah during repeated waves of mass displacement in Gaza.
The UN humanitarian coordinator says 87.8% of Gaza is now under evacuation orders or inside Israeli military zones, “leaving 2.1 million civilians squeezed into a fragmented 12 per cent of the Strip, where essential services have collapsed.”
Israel has taken over large areas of Gaza and split the territory with corridors stretching from the border to the sea as it seeks to pressure Hamas to release more hostages.
In response to the Deir alBalah incursion, the Hostages and Missing Families Forum warned in its statement that “the people of Israel will not forgive anyone who knowingly endangered the hostages—both the living and the deceased. No one will be able to claim they didn’t know what was at stake.”
Hamas-led militants abducted 251 people in the October 7, 2023, attack that triggered the war and killed around 1,200 people. Fewer than half of the 50 hostages still in Gaza are believed to be alive.
Israel blames the deaths of Palestinian civilians on Hamas because the militants operate in densely populated areas, and it accuses the group of prolonging the war because Hamas has not accepted Israel’s terms for a ceasefire.
Rare condemnation from UN food agency
THE World Food Program, in a rare condemnation, said the crowd surrounding its convoy in northern Gaza on Sunday “came under fire from Israeli tanks, snipers and other gunfire.” It said “countless lives” were lost. A photographer working with the AP counted 51 bodies at two hospitals.
The Gaza Health Ministry said
at least 80 people were killed. Israel’s military said it fired warning shots “to remove an immediate threat” and questioned the death toll reported by the Palestinians. It declined to comment on the WFP statement.
Hundreds of people have been killed while seeking food in recent weeks, both from UN convoys and separate aid sites run by an Israelibacked group that has been mired in controversy.
The Palestinian death toll from the war has climbed to more than 59,000, according to Gaza’s Health Ministry. Its count does not distinguish between militants and civilians, but the ministry says more than half of the dead are women and children. The ministry is part of the Hamas government, but the UN and other international organizations see it as the most reliable source of data on casualties.
Israel detains Gaza Health Ministry spokesperson GAZA health officials said at least 18 people, including three women and five children, were killed in Israeli strikes overnight and into Monday.
At least three people were killed when crowds of Palestinians waiting for aid trucks were shot at in
Beef prices have soared in the US, and not just during grilling season
By Josh Funk AP Business Writer
OMAHA,
Neb.—Anyone
firing up the grill this summer already knows hamburger patties and steaks are expensive, but the latest numbers show prices have climbed to record highs. And experts say consumers shouldn’t expect much relief soon either.
The average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago, according to US government data. The average price of all uncooked beef steaks rose 8% to $11.49 per pound.
But this is not a recent phenomenon. Beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular.
In fact, the US cattle herd has been steadily shrinking for decades. As of January 1, the US had 86.7 million cattle and calves, down 8% from the most recent peak in 2019. That is the lowest number of cattle since 1951, according to the US Department of Agriculture.
Many factors including drought and cattle prices have contributed to that decline. And now the emergence of a pesky parasite in Mexico and the prospect of widespread tariffs may further reduce supply and raise prices.
Here’s a look at what’s causing the price of beef to rise.
Smaller herd
THE American beef industry has
gotten better at breeding larger animals, so ranchers can provide the same amount of beef with fewer cattle, said David Anderson, a livestock economist at Texas A&M. Then in 2020, a three-year drought began that dried out pastures and raised the cost of feed for cattle, according to the American Farm Bureau. Drought has continued to be a problem across the West since then, and the price of feed has put more pressure on ranchers who already operate on slim profit margins.
In response, many farmers slaughtered more female cattle than usual, which helped beef supplies in the short term but lowered the size of future herds. Lower cattle supplies have raised prices. In recent years cattle prices have soared, so that now animals are selling for thousands of dollars apiece. Recent prices show cattle selling for more than $230 per hundredweight, or hundred pounds.
Those higher prices give ranchers more incentive to sell cows now to capture profits instead of hanging onto them for breeding given that prices in the years ahead may decrease, Anderson said.
“For them, the balance is, ‘Do I sell that animal now and take this record high check?’ Or ‘do I keep her to realize her returns over her productive life when she’s having calves?’” Anderson said. “And so it’s this balancing act and so far the side that’s been winning is to sell her and get the check.”
Disease dilemma
THE emergence of a flesh-eating pest in cattle herds in Mexico has put extra pressure on supply because officials cut off all imports of cattle from south of the border last year. Some 4% of the cattle the US feeds to slaughter for beef comes from Mexico.
The pest is the New World screwworm fly, and female flies lay
eggs in wounds on warm-blooded animals. The larvae that hatch is unusual among flies for feeding on live flesh and fluids instead of dead material. American officials worry that if the fly reaches Texas, its flesh-eating maggots could cause large economic losses as they did decades ago before the US eradicated the pest.
Agricultural economist Bernt Nelson with the Farm Bureau said the loss of that many cattle is putting additional pressure on supply that is helping drive prices higher.
Tariff trouble
PRESIDENT Donald Trump’s tariffs have yet to have a major impact on beef prices but they could be another factor that drives prices higher because the US imports more than 4 billion pounds of beef every year.
Much of what is imported is lean beef trimmings that meatpackers mix with fattier beef produced in the US to produce the varieties of ground beef that domestic consumers want. Much of that lean beef comes from Australia and New Zealand that have only seen a 10% tariff, but some of it comes from Brazil where Trump has threatened tariffs as high as 50%.
If the tariffs remain in place long-term, meat processors will have to pay higher prices on imported lean beef. It wouldn’t be easy for US producers to replace because the country’s system is geared toward producing fattier beef known for marbled steaks.
Prices will likely stay high IT’S the height of grilling season and demand in the US for
the area of the Netzarim corridor in central Gaza, according to two hospitals that received the bodies.
The Gaza Health Ministry said Israeli forces detained Dr. Marwan al-Hams, acting director of the strip’s field hospitals and the ministry’s spokesman.
Israeli troops killed a local journalist, Tamer al-Zaanein, who was accompanying al-Hams, and wounded two other people when they detained him near a Red Cross field hospital in southern Gaza, according to the Health Ministry and the journalist’s family. The International Committee of the Red Cross declined to provide details but said it was “very concerned” about safety and security around the hospital “and the impact this can have on patients and staff.” Israeli military officials offered no immediate comment on any of the strikes.
Israel again strikes rebel-held port in Yemen THE fighting in Gaza has triggered conflicts elsewhere in region, including between Israel and the Iranian-backed Houthi rebels in Yemen, who have fired missiles and drones at Israel in what they say is in solidarity with Palestinians. The Israeli military said it struck the Hodeidah port in Yemen early Monday. Israel has struck the port before, including two weeks ago, accusing the Houthis of using it to import arms from Iran. Israeli Defense Minister Israel Katz said the targets included areas of the port that Israel had destroyed in previous strikes. “The Houthis will pay heavy prices for launching missiles towards the state of Israel,” Katz said.
Magdy reported from Cairo and Lidman from Jerusalem. Associated Press writers Josef Federman in Jerusalem, Sally Abou AlJoud in Beirut and Farnoush Amiri at the United Nations contributed to this report.
beef remains strong, which Kansas State agricultural economist Glynn Tonsor said will help keep prices higher.
If prices remain this high, shoppers will likely start to buy more hamburger meat and fewer steaks, but that doesn’t appear to be happening broadly yet—and people also don’t seem to be buying chicken or pork instead of beef.
Nelson said that recently the drought has eased—allowing pasture conditions to improve—and grain prices are down thanks to the drop in export demand for corn because of the tariffs. Those factors, combined with the high cattle prices might persuade more ranchers to keep their cows and breed them to expand the size of their herds.
Even if ranchers decided to raise more cattle to help replace those imports, it would take at least two years to breed and raise them. And it wouldn’t be clear if that is happening until later this fall when ranchers typically make those decisions.
“We’ve still got a lot of barriers in the way to grow this herd,” Nelson said. Just consider that a young farmer who wants to add 25 bred heifers to his herd has to be prepared to spend more than $100,000 at auction at a time when borrowing costs remain high.
There is typically a seasonal decline in beef prices as grilling season slows down into the fall, but those price declines are likely to be modest.
The Associated Press writer Dee-Ann Durbin contributed to this report from Detroit.
children suffering from burns. Students also scrambled to see what had happened. “We fought with the crowd and the soldiers to get close to the crash site in our school,” said Estiak Elahi Khan, who is in the 11th grade. “What I saw I can’t describe that...that’s terrible.”
Doctors at Uttara Adhunik Hospital said more than 60 students, many between the ages of 12 and 16, were transferred to a special hospital for burn victims.
By Monday evening, rescuers continued to scour the debris, searching for bodies. A crane was being used to remove debris.
Bangladesh’s interim leader, Muhammad Yunus, also pledged an investigation, and he expressed his deep sorrow over the “heartbreaking accident.” He called it “a moment of deep national grief.”
Indian Prime Minister Narendra Modi also expressed shock and sadness. “Our hearts go out to the bereaved families,” Modi said in a post on X. “India stands in solidarity with Bangladesh and is ready to extend all possible support and assistance.”
Rafiqa Taha, a student who was not present at the time of the crash, said by phone that the school, with some 2,000 students, offers classes from elementary grades through high school.
“I was terrified watching videos on TV,” the 16-year-old said. “My God! It’s my school.” The
Weathering the storm: The growing challenges for our food producers amid typhoon threats
THE second half of the year is usually a worrisome period particularly for food producers. This is because strong typhoons strike the Philippines from July to December as seen last year, when a series of typhoons unleashed their fury in the fourth quarter. Monsoon rains also drench farmlands and bring destruction to crops and animals in low-lying areas, causing farmers to incur losses.
Severe tropical storm Crising, which recently struck Luzon, destroyed crops. (See, “‘Crising,’ monsoon rains damaged rice crops,” in the BusinessMirror , July 21, 2025). The assessment of the destruction it brought to the agriculture sector is still ongoing and the government will not be able to complete it unless floodwater subsides in low-lying production areas. Unfortunately, Crising is just one of the many threats to agricultural production this year.
Climate change may have intensified the tropical cyclones that have struck the country in recent years, but the average has remained at 19 to 20 a year. Tropical cyclones are a certainty for the Philippines and the national government and local governments are well aware of this. Yet, year in and year out, our food producers continue to record billions in losses because of the effects of storms.
In the last quarter of the year alone, the series of typhoons that struck the Philippines resulted in some P10 billion in agricultural losses. That amount is the annual allocation for the rice competitiveness enhancement fund prior to the amendment of the rice tariffication law last year. For the whole of 2024, the combined effects of El Niño, La Niña and other natural events resulted in agricultural damages worth P57.58 billion. (See, “Farm output shrinks by 2.2% in 2024, damage from serial typhoons blamed,” in the BusinessMirror , January 29, 2025).
The storms further exacerbate the woes that continue to plague country’s supply chain. Weather disturbances make it more difficult to transport produce like vegetables particularly if a strong typhoon strikes Northern Luzon. This then results in more expensive food items and accelerates inflation.
The onslaught of Crising is a stark reminder to policymakers that the farm sector is in need of substantial investments that will allow them to improve productivity and deliver their goods efficiently to their markets in the face of severe weather events. These investments should include higher spending for climate-proofing strategies as well as farm infrastructure, such as cold storage facilities. Aside from increasing the income of farmers and making food prices stable, these investments will also help make the agriculture sector attractive to the youth.
Easing the access of food producers to affordable credit will enable them to recover immediately from natural disasters. Production cost remains elevated and certain inputs, such as fertilizer, are now more expensive. Losses are devastating to smallholder farmers, who make up a substantial portion of food producers in the country, and who will most likely stop planting or raising hogs if they do not have enough production capital.
Infrastructure a priority in
SMark Villar
THE BUILDER
USTAINED infrastructure push, alongside other reforms, is expected to support the Philippines’ goal of becoming a highincome economy by 2050, building on its impressive post-2010 economic growth, declining poverty and improving employment landscape.
The government is continuing its strong focus on infrastructure spending, as evidenced by the proposed P6.793 trillion budget for 2026. This budget, which is 7.4 percent higher than the 2025 program and representing 22 percent of our gross domestic product (GDP), was approved by President Ferdinand Marcos Jr. and his Cabinet, and will be submitted to Congress.
A large part of the 2026 budget is allocated to maintenance and other operating expenses (MOOE) at P2.639 trillion. Personnel services (PS) will receive P1.908 trillion, making up 28.1 percent of the total. Capital outlays, specifically for priority infrastructure projects, are set at P1.296 trillion, while financial expenses account for P950 billion.
Per Department of Budget and Management Secretary Amenah Pangandaman, the proposed budget is equivalent to 22.0 percent of the gross domestic product (GDP) and marks a 7.4-percent increase from the 2025 budget of P6.326 trillion. This aligns with other countries’ budgets, which typically represent about a fifth of their economies.
National government agencies will receive the largest share (P4.305 trillion or 63.4 percent), followed by local government units (P1.350 trillion or nearly 20 percent). Government-owned or -controlled corporations (GOCCs) will get P188.3 billion in support.
The President is expected to submit the proposed budget to Congress within 30 days of the opening of the regular session. The House of Representatives and the Senate would then begin lengthy and meticulous deliberations on the budget proposals of each government agency once regular sessions resume.
Based on the proposed 2026 budget, infrastructure will continue to receive a substantial portion of the allocation, reflecting the government’s priority. The ongoing construction of numerous projects benefits both the construction sector and employment.
The infrastructure push is expected to stimulate private sector spending on residential and commercial developments across the country. New infrastructure projects, such as roads and bridges, attract private sector investment in surrounding areas,
2026 budget
including residential and commercial developments. The expansion of economic activities to previously inaccessible regions is crucial for fostering inclusive growth across the country.
By investing in tangible projects, the government aims to enhance economic activities and support sustained growth. As a country, we are enjoying one of the fastest growths and largest labor forces among middle-income economies. The Philippine population reached 112.7 million in mid-2024, per the Philippine Statistics Authority (PSA), even as the annual growth rate eased to 0.8 percent.
With continuous income growth and tapering population expansion, the World Bank predicts that the Philippines could become a middleclass society by 2040 and a highincome economy by 2050, provided that GDP growth approaches 7 percent annually and key reforms are fully implemented.
In its Country Growth and Jobs Report for the Philippines, the World Bank suggests that the full implementation of reforms could bring the country closer to becoming a high-income economy by 2050. These reforms are expected to increase the annual average real GDP growth rate to 6.8 percent over the next 15 years, leading to a 23.6 percent larger GDP by 2040 than without reforms. This would also generate 5.1 million new jobs and a 13-percent increase in average real wages by 2040, based on the World Bank’s estimate.
The Philippines since 2010 has demonstrated impressive economic growth, with record-low unemployment (3.8 percent in 2024) and a doubling of its GDP, per the World Bank report.
The country has been among the fastest-growing middle-income countries, largely due to job creation, a shift towards more productive wage-earning jobs and pro-investment reforms. Key drivers included foundational infrastructure spending, structural reforms and private capital mobilization, with capital accumulation accounting for over 90 percent of growth.
Post-pandemic, the Philippines has maintained one of the highest economic growth rates in Asia and among emerging economies globally, leading to a major decline in poverty incidence to 15.5 percent in 2023, or below pre-pandemic levels. Despite these achievements, significant structural challenges persist, with the World Bank citing that while capital deepening and labor force expansion have primarily driven economic growth, gains in total factor productivity remain limited.
The proposed 2026 budget underscores the government’s commitment to leveraging infrastructure development as a cornerstone for sustained economic growth and inclusive progress.
Prioritizing infrastructure investments will not only enhance the nation’s physical landscape but also catalyze private sector participation, broaden economic opportunities and uplift living standards across the country.
This strategy, coupled with ongoing reforms, positions the Philippines to achieve its long-term development aspirations of becoming a high-income economy by 2050.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph
Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo Ruben M. Cruz Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan
EUROPEAN leaders will meet their Japanese and Chinese counterparts this week, with high expectations for better defense and trade cooperation with Tokyo contrasting sharply with limited hopes for discussions in Beijing.
European Commission President Ursula von der Leyen and European Council President Antonio Costa will travel to Asia this week, first meeting Japanese Prime Minister Shigeru Ishiba on Wednesday in Tokyo, then Chinese President Xi Jinping and Premier Li Qiang on Thursday in Beijing.
In Japan, the leaders plan to sign agreements on defense industry cooperation and economic security, according to European officials who briefed journalists ahead of the meeting. However, there is no expectation of a joint statement from the summit meeting in Beijing, the officials said, speaking on condition of anonymity.
The European delegation expects to reach no substantial deals from the Chinese meeting, aiming only for a “substantive, open, direct, good and constructive conversation,” one of the officials said. Europe hopes to make clear what it wants Beijing to do to fix unsustainable economic relations and rebalance ties, the official said.
“The atmosphere of China-Europe relations has become delicate before the summit,” said Cui Hongjian, a former Chinese diplomat who teaches at Beijing Foreign Studies University. “Some favorable conditions, such as Trump’s tariffs, could bring both sides closer, but other unfavorable conditions, like their
The European delegation expects to reach no substantial deals from the Chinese meeting, aiming only for a “substantive, open, direct, good and constructive conversation,” one of the officials said. Europe hopes to make clear what it wants Beijing to do to fix unsustainable economic relations and rebalance ties, the official said.
differences on the Ukraine issue, are preventing better China-Europe relations.”
An agreement on climate change cooperation might emerge, though even that remains uncertain, one official said.
Ties between the EU and China have deteriorated since the pandemic, with European complaints spanning Beijing’s trade practices and its support for Moscow.
For Brussels, cooperation between Chinese and Russian firms that supports Moscow’s military industrial complex despite European sanctions is a particular point of contention. The EU on Friday sanctioned two Chinese banks and five China-based companies as part of its latest measures against Russia over the Ukraine invasion. The move marked the first European sanctions against Chinese banks and prompted protest from Beijing, which promised a response that would safeguard and protect its own firms.
Highlighting European trade frustrations, China’s goods trade surplus in the first half of this year rose to a record for any six-month period, according to data released last week. Fast-growing Chinese exports and shrinking imports pushed the surplus to almost $143 See “EU,” A9
Analysts see volatility in yen, stocks after Japan election
By Alice French
THE yen and Japanese stocks may be volatile this week as a setback for Prime Minister Shigeru Ishiba’s ruling coalition in the upper house election casts doubt over the nation’s policy direction, strategists say.
Ishiba said he intends to stay on even as his party is set to govern the country without a majority in at least one of the legislative chambers for the first time since 1955.
Japan’s currency gained as much as 0.7 percent to 147.79 per dollar overnight before paring the move to 148.04 as of 3:26 p.m. in Tokyo. Japanese stock futures fluctuated in a narrow range as investors weighed the historic blow for the Liberal Democratic Party. Cash equity trading in Tokyo is shut Monday for a national holiday.
Here’s what strategists are saying:
Nick Twidale, chief analyst at ATFX Global Markets
“There’s plenty of volatility to come on both the domestic front and the trade front. Some may see a silver lining in Ishiba staying on, but overall I don’t think the outlook is particularly bright.”
“I don’t think policy uncertainty bodes well for Japanese equities, plus we still have the US tariffs hanging over their heads and the new political setup could make things more tricky.”
Twidale expects selling in Japanese stocks Tuesday, and an overall weakening in the yen, despite its “initial haven move” higher on Monday.
Hui Shi Yeo, portfolio manager and researcher overseeing Japan equities at iFast Financial
“With Ishiba vowing to remain in office despite the setback and doubts about the government’s ability to push through key policies, both the yen and the stock market may become more sensitive to headlines.”
“If the election outcome leads to some market volatility, it could offer a compelling opportunity for long-term investors to enter at more attractive levels. Japanese equities still look relatively undervalued compared to their developed market peers.”
“The ongoing political uncertainty is likely to keep bond yields elevated in the near term, as markets factor in concerns about government spending and how debt will be managed.”
Amir Anvarzadeh, Japan equity strategist at Asymmetric Advisors
“We don’t think the changing political landscape in Japan will have much of an impact in the near term and expect the market to find a firmer footing, as the yen stabilizes and the JGB market calms down. Prospects of an imminent consumption tax cut seem fairly low.”
“Although Ishiba has vowed to carry on, it’s difficult to see how he can, given that for the first time ever, the LDP and its coalition partner, Komeito have lost both its majority in the upper house and lower house and need to cross-check any policy with the opposition to get anything done.”
“As long as we don’t see a consumption tax cut, which could send the JGB market into a funk, with the election now out of the way and the results more or less in line with expectations, we may see stocks rebound toward their year highs again.”
Hiroshi Namioka, chief strategist and fund manager at T&D Asset Management
“In light of the election results, while I haven’t completely ruled
out one BOJ hike within the year, the possibility of no hike has now emerged.”
“Although I expect long-term JGB yields to rise, it’s for negative reasons, which also contributes to yen depreciation. So overall, I think the yen is likely to weaken, and there’s a considerable chance it could move sharply lower.”
R odrigo Catril, a currency strategist at National Australia Bank
“ Uncertainty usually tends to favor the yen, at least initially. Japan is heading toward a period of political uncertainty—base case scenario is that Ishiba stays and tries to govern with support from some within the opposition, but this likely means bigger fiscal deficits. The prospects of a BOJ rate hike are now likely to be delayed for a little bit longer. Overall, the election outcome is not good news for Japanese assets and we would look to fade yen strength.”
Akira Moroga, chief market strategist at Aozora Bank
“Some investors had positioned for a larger setback for the coalition and even anticipated Ishiba’s resignation. The unwinding of such positions, combined with relief that a political risk event has passed, contributed to the initial yen rebound.”
“However, the fact remains that the coalition lost its majority, meaning the LDP will no longer be able to push through legislation on its own. Concerns over potential fiscal expansion remain in place. The yen is expected to trade in a 145–150 range this week, with markets watching the outcome of Japan-US tariff negotiations.”
Hebe Chen, an analyst at Vantage Markets in Sydney
“Japan’s upper-house election has reignited political uncertainty, adding another layer of instability to an already fragile backdrop since last October’s turmoil. This fresh wave of volatility is poised to ramp up pressure on the yen at the worst possible timing, as Tokyo races toward the critical August 1 trade deadline with the US.”
“For Japanese equities, the picture is more complex. A weaker yen may offer short-term support to exporters, but the deepening political noise threatens to erode broader investor confidence. Still, any credible path toward resolution—however unlikely in the near term—could break the year-long deadlock and refocus attention on Japan’s longterm economic prospects.”
Rajeev de Mello, portfolio manager at Gama Asset Management SA
“Since it seems that the ruling coalition will lose fewer seats than expected and that Ishiba will not resign, the worst case for the yen has been avoided, and we should see a resumption of the weaker dollaryen trend.”
“The elections in Japan were a crucial driver for the US dollar’s recovery since the start of July, and that will now be less of a concern. The Bank of Japan will be able to resume tightening monetary policy to address Japan’s persistently high inflation.” With assistance from Momoka Yokoyama, Winnie Hsu, Carmeli Argana, Matthew Burgess and Issei Hazama/Bloomberg
of the holidays. Tensions were worsened by Beijing’s April decision to impose export controls on rare earth magnets and related products, which shook European car companies and other sectors. While these shipments saw a re-
Leftist leaders sidestep mention of Trump or tariffs in summit
By Antonia Mufarech & Matthew Malinowski
LEFTIST leaders meeting at a pro-democracy summit in Chile Monday are treading carefully, avoiding any mention of Donald Trump or tariffs and concentrating on the threat posed by disinformation and the misuse of technology.
Chilean President Gabriel Boric is hosting Brazil’s Luiz Inácio Lula da Silva, Colombia’s Gustavo Petro, Spain’s Pedro Sánchez and Uruguay’s Yamandú Orsi for the one-day conference in Santiago, which is still ongoing.
Even though the event is fresh off Trump’s threat to slap 50 percent tariffs on Brazil and his defense of former President Jair Bolsonaro— accused of an attempted coup—none of the leaders in their separate or joint statements specifically mentioned the US leader, levies or political interference. The participants stuck closely to the script of a meeting called to foment multilateralism, combating hate speech, disinformation, corruption, inequality and the concentration of power in the world.
“Today in many parts of the world, democracy is under threat,” Boric said. “That threat cannot just be reduced to military force.”
This summit had put a spotlight on leaders like Boric, who has so far evaded Trump’s threats, as well as others like Petro, who is navigating souring relations with the US. On
July 16, Trump said he will send letters to over 150 countries notifying them of tariffs in the latest sign of his strategy for weaponizing trade.
Monday’s meeting mirrors growing cooperation in other regions of the world such as the European Union, which is preparing to step up engagement with countries like Canada that have been hit by Trump’s tariffs and ultimatums.
“We had a very recent precedent that could repeat itself. We’re seeing objectives that are at odds with Trump and also progressive leaders that are teaming up, potentially with a statement that he can feel is also criticism of himself and his policies,” said Jimena Zúñiga, Bloomberg’s Latin America geoeconomics analyst.
The gathering in Chile marked the first formal, face-to-face encounter of the group following an online conference in February this year. In a joint statement, the five leaders emphasized the need to respect international law, to commit to peace and to overhaul multilateralism to make it more participative.
“We are completely aware that the
The gathering in Chile marked the first formal, face-to-face encounter of the group following an online conference in February this year. In a joint statement, the five leaders emphasized the need to respect international law, to commit to peace and to overhaul multilateralism to make it more participative.
world is passing through a period of profound uncertainty in which democratic values are challenged in a permanent way,” the leaders wrote in the statement.
The group’s proposals will be presented and developed further at its next meeting on the sidelines of September’s United Nations General Assembly. Spain also agreed to hold a future meeting of the participant countries.
“These are countries that are not inclined to just bow down and make concessions to Washington, given the very coercive and punitive approach that Washington is taking,” Kenneth Roberts, a Cornell University professor of government who focuses on Latin American politics, said before the meeting.
Big gamble
THE summit is a particularly big gamble for Boric as host, given that
Microsoft rushes to stop hackers from wreaking global havoc
HBy Jake Bleiberg, Jane Lanhee Lee & Ryan Gallagher
ACKERS exploited a security flaw in common Microsoft Corp. software to breach governments, businesses and other organizations across the globe and steal sensitive information, according to officials and cybersecurity researchers.
Microsoft over the weekend released a patch for the vulnerability in servers of the SharePoint document management software. The company said it was still working to roll out other fixes after warnings that hackers were targeting SharePoint clients, using the flaw to enter file systems and execute code.
Multiple different hackers are launching attacks through the Microsoft vulnerability, according to representatives of two cybersecurity firms, CrowdStrike Holdings, Inc. and Google’s Mandiant Consulting.
Hackers have already used the flaw to break into the systems of national governments in Europe and the Middle East, according to a person familiar with the matter. In the US, they’ve accessed government systems, including ones belonging to the US Department of Education, Florida’s Department of Revenue and the Rhode Island General Assembly, said the person, who spoke on condition that they not be identified discussing the sensitive information.
Representatives of the Department of Education and Rhode Island legislature didn’t respond to calls and emails seeking comment Monday. A Florida Department of Revenue spokesperson, Bethany Wester Cutillo, said in an e-mail that the SharePoint vulnerability is being investigated “at multiple levels of government” but that the state agency “does not comment publicly on the software we use for operations.”
The hackers also breached the systems of a US-based health-care provider and targeted a public uni -
bound last month, it remains unclear if this will satisfy Europeans, who had demanded China fix the issue before the summit. Von der Leyen had previously accused China of “weaponizing” the magnet supply chains at the Group of Seven meeting last month.
versity in Southeast Asia, according to a report from a cybersecurity firm reviewed by Bloomberg News. The report doesn’t identify either entity by name, but says the hackers have attempted to breach SharePoint servers in countries including Brazil, Canada, Indonesia, Spain, South Africa, Switzerland, the UK and the US. The firm asked not to be named because of the sensitivity of the information.
In some systems they’ve broken into, the hackers have stolen sign-in credentials, including usernames, passwords, hash codes and tokens, according to a person familiar with the matter, who also spoke on condition that they not be identified discussing the sensitive information.
“This is a high-severity, highurgency threat,” said Michael Sikorski, chief technology officer and head of threat intelligence for Unit 42 at Palo Alto Networks Inc.
“What makes this especially concerning is SharePoint’s deep integration with Microsoft’s platform, including their services like Office, Teams, OneDrive and Outlook, which has all the information valuable to an attacker,” he said. “A compromise doesn’t stay contained—it opens the door to the entire network.”
Tens of thousands—if not hundreds of thousands—of businesses and institutions worldwide use SharePoint in some fashion to store and collaborate on documents. Microsoft said that attackers are specifically targeting clients running SharePoint servers from their own on-premise networks, as opposed to being
In contrast, the visit to Japan will announce initiatives to build upon what the European officials described as “our closest strategic partner in the Indo-Pacific region.” They said the steps will cover defense and security, industrial policy, foreign interference and manipula-
his government is weak and counts the US as its biggest trading partner after China.
“There are scenarios where the United States could take economic actions, at least in the short term, which would be detrimental to Chile,” Roberts said.
Lula presided over July’s BRICS conference in Rio de Janeiro which released a declaration criticizing trade protectionism and airstrikes on Iran, both clear swipes at Trump even if it didn’t mention him or the US by name. Days later, the US president threatened aggressive tariffs on goods from Latin America’s largest economy, heavily citing political reasons.
“At a time when extremism tries to redo interventionist practices, we need to act together,” Lula said on Monday.
The event gives Boric’s team an opportunity to learn from Lula’s recent experiences.
Boric’s outgoing administration is already on alert as it awaits details on Trump’s plan to impose a 50 percent tariff on copper. The red metal is Chile’s top export product.
Any backlash from Trump stands to “elicit some criticism because some Chileans may say, ‘hey Boric, this just happened to Brazil, you should have been more careful,’” Zúñiga said. With assistance from Carolina Gonzalez and Danielle Balbi/Bloomberg
The Washington Post reported that the breach had affected US federal and state agencies, universities, energy companies and an Asian telecommunications company, citing state officials and private researchers.
hosted and managed by the tech firm. That could limit the impact to a subsection of customers.
A Microsoft spokesperson declined to comment beyond an earlier statement.
“It’s a dream for ransomware operators,” said Silas Cutler, a researcher at Michigan-based cybersecurity firm Censys. He estimated that more than 10,000 companies with SharePoint servers were at risk. The US had the largest number of such firms, followed by the Netherlands, the UK and Canada, he said.
The breaches have drawn new scrutiny to Microsoft’s efforts to shore up its cybersecurity after a series of high-profile failures.
The firm has hired executives from places like the US government and holds weekly meetings with senior executives to make its software more resilient. The company’s tech has been subject to several widespread and damaging hacks in recent years, and a 2024 US government report described the company’s security culture as in need of urgent reforms.
The Center for Internet Security, which operates a cybersecurity information sharing system for state and local governments in the US, found more than 1,100 servers that are at risk from the SharePoint vulnerability, said Randy Rose, the organization’s vice president of security operations and intelligence. Rose said more than 100 were likely hacked.
The Washington Post reported that the breach had affected US federal and state agencies, univer -
tion, business competitiveness, as well as cooperation between the EU and countries in the CPTPP, a free trade agreement among 12 nations in the Asia-Pacific region and the UK. The EU and Japan also held their first “security and defense dialogue”
sities, energy companies and an Asian telecommunications company, citing state officials and private researchers.
Eye Security was the first to identify that attackers were actively exploiting the vulnerabilities in a wave of cyberattacks that began on Friday, said Vaisha Bernard, the company’s chief hacker and co-owner.
Eye Security said the vulnerability allows hackers to access SharePoint servers and steal keys that can let them impersonate users or services even after the server is patched. It said hackers can maintain access through backdoors or modified components that can survive updates and reboots of systems.
The SharePoint vulnerabilities, known as “ToolShell,” were first identified in May by researchers at a Berlin cybersecurity conference. In early July, Microsoft issued patches to fix the security holes, but hackers found another way in.
“There were ways around the patches,” which enabled hackers to break into SharePoint servers by tapping into similar vulnerabilities, said Bernard. “That allowed these attacks to happen.” The intrusions, he said, were not targeted and instead were aimed at compromising as many victims as possible. After scanning about 8,000 SharePoint servers, Bernard said he has so far identified at least 50 that were successfully compromised.
He declined to identify the identity of organizations that had been targeted, but said they included government agencies and private companies, including “bigger multinationals.” The victims were located in countries in North and South America, the EU, South Africa, and Australia, he added. With assistance from Lynn Doan, Cameron Fozi, Daniel Cancel, Aashna Shah, Jane Lanhee Lee and Patrick Howell O’Neill/Bloomberg
last month. One official noted that the EU and Japan would express their joint opposition to any attempt to change the status quo in the Taiwan Strait by force or coercion, a remark aimed at China, which claims Taiwan as its own territory. With assistance from Martin Ritchie/Bloomberg
Wednesday, July 23, 2025
Commodity imports of PHL surge to $44.37B—report
By Andrea E. San Juan
THEPhilippines’s commodity imports surged by 88 percent to $44.37 billion in 2021 to 2023 from the $23.49 billion nearly a decade ago, according to the United Nations Conference on Trade and Development’s (UNCTAD) State of Commodity Dependence 2025 report.
Unctad said the country’s commodity imports include food and live animals; beverages and tobacco; crude materials, inedible, except fuels; energy products; animal and vegetable oils, fats and waxes; pearls, precious and semi-precious stones; non-ferrous metals; gold, non-monetary (excluding gold ores and concentrates).
age of food imports to all allocated product imports.
Allocated imports are the sum of all individual product lines at the three-digit level, it also noted.
Further, the Philippines’s net food imports as share of all allocated product imports went up to 8.6 percent in 2021-2023 from the 2.7 percent in the 2012-2014.
According to Unctad, net food imports as share of all allocated product imports is the ratio in percentage of the difference between food imports and food exports, divided by all allocated product imports.
statement.
Such goods, Unctad noted, can be broadly categorized into three categories: energy, mining and agriculture—be it the wheat or coffee that people consume, or metals like copper and lithium that help power daily lives.
“But entrenched reliance on these on these primary products—long been of global concern—hinders industrial development and threatens countries’ fiscal stability when global prices go volatile,” the UN’s trade and development arm pointed out.
SMC Infrastructure reported that as of 6:00 p.m. on Tuesday, all expressways under its management—South Luzon Expressway (SLEX), STAR Tollway, Skyway System, NAIA Expressway, and Tarlac-Pangasinan-La Union Expressway (TPLEX)—remain operational and passable.
The company said there have been no major incidents of flooding, although some lanes were temporarily closed due to water buildup, which can make driving conditions unsafe.
Unctad said commodity dependence remained a “significant” challenge in global merchandise trade, particularly for developing countries, over the 2012-2014 to 20212023 period.
Food imports as share of all allocated product imports also rose to 13.1 percent in the 2021-2023 period from the 10.5 percent in 20122014.
Meanwhile, the UN’s trade and development arm defined food imports as share of all alocated product imports as the ratio in percent-
The state of commodity dependence report published by Unctad indicated that the Philippines’s food imports soared to $17.68 billion in the 2021-2023 period, a 152.93-percent increase from the $6.99 billion in the 2012-2014 period. Unctad said food imports include all three-digit level commodity codes under the following titles: food and live animals; oil seeds and oleaginous fruits; animal and vegetable oils, fats and waxes.
THE Department of Trade and Industry (DTI) is appealing to the public to refrain from sharing a document circulating online which purportedly contains the concessions that the Philippines is offering to the United States to reduce the 20-percent reciprocal tariff rate. Trade and Industry Secretary Cristina A. Roque made this call after a document titled: “Message to Technical Working Group” was posted on social media platforms last July 21. The document supposedly contained “instructions for future negotiations on the Philippines-United States Agreement on Reciprocal Trade Framework.”
“I want to inform the general public that I did not issue such document, hence, it is fake and my signature appearing therein is a forgery. I therefore condemn the malicious and irresponsible circulation of this document and the information contained therein,” the country’s Trade chief said in a statement on Tuesday. Roque pointed out that the sensitivity of the subject matter and that the timing of its release to the scheduled engagement of President Ferdinand R. Marcos Jr. with President Donald Trump in Washington D.C. “reflects the ill motive” of whoever is responsible for spreading the said document.
“I strongly advise the general public to refrain from sharing or circulating the same,” she also noted. Roque also advised the public that only information released through official government channels should be regarded as “accurate and verified” information.
“We remain committed to transparency and the utmost protection
of the integrity of our national interests,” she said. President Ferdinand R. Marcos Jr. is on an official visit in the US from July 20 to 22, 2025. The highlight of such a trip will be his scheduled meeting with US President Donald Trump to discuss security and economic matters, including the possible lowering of the US tariffs on Philippine goods. (See: https://businessmirror.com. ph/2025/07/22/pbbm-meetssemicon-healthcare-firms/)
Among the Philippine trade officials joining the president in the US are Roque and Trade Undersecretary Ceferino S. Rodolfo, based on a video released by Malacañang. They were also joined by Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Frederick D. Go.
Last July 9, US President Donald Trump wrote President Ferdinand R. Marcos Jr. saying: “Starting on August 1,2025, we will charge the Philippines a tariff of only 20 percent on any and all Philippine products into the United States, separate from all Sectoral Tariffs. Goods transshipped to evade a higher tariff will be subject to that higher tariff.”
In a statement issued by DTI on July 10 in response to Trump’s letter, the Philippines’s Trade department expressed concern that, notwithstanding its efforts and constant engagements, the US still decided to impose a 20-percent tariff on Philippine exports. Still, DTI said it will continue to actively engage with its US counterparts “toward a balanced and mutually beneficial trade relationship.”
Andrea E. San Juan
As for the Philippines’s commodity exports, it amounted to $15.48 billion in the 2021-2023 period, a 32.30 percent increase from the $11.70 billion in the 2012-2014 period.
“The world still has a long way to go in breaking commodity dependence, a situation where a country makes more than 60 percent of its merchandise export earnings from commodities,” Unctad said in a
Moreover, Unctad explained that while commodity exports remain central to the global economy, its share in international trade declined to 32.7 percent between 2021 and 2023, slightly lower than the 35.5 percent share from a decade earlier.
“The shift underscores that countries mainly exporting raw materials could miss out on the broader benefits of global trade—increasingly driven by diversification, innovation and value-added production,” said Unctad.
Between 2021 and 2023, Asia and Oceania maintained their position as the world’s largest source of commodity exports, comprising 37.1 percent of the global total.
The G. Araneta (Maria Clara) off-ramp at Skyway Stage 3 remains closed due to flooding at the at-grade section, following the overflow of Talayan Creek last July 21.
The creek’s drainage capacity has also been severely limited by accumulated garbage obstructing water flow. While the responsibility for clearing and maintaining waterways lies with the Metropolitan Manila Development Authority (MMDA) and the Quezon City Government, SMC Infrastructure has been supporting cleanup efforts by regularly removing waste from the creek. However, sustained improvement requires the timely hauling of collected garbage and stricter enforcement of waste disposal regulations.
Heavy rains have also contributed to the formation of potholes along some sections of the expressways. Maintenance personnel are actively repairing these in coordination with traffic patrollers to ensure road safety. Motorists are advised to drive with caution during inclement weather. Keep speed at or below 60 kph, use headlights when visibility is low, and avoid using hazard lights while the vehicle is moving, as these indicate a stalled vehicle. SMC Infrastructure said it continues to monitor road conditions and work closely with authorities to ensure roads remain safe and accessible to the public.
By Ma. Stella F. Arnaldo Special
to the BusinessMirror
THE iconic Taal Vista Hotel (TVH) in Tagaytay City is in the middle of a P450million renovation, that will lead to updated rooms and a new Presidential Villa by yearend.
Neil Rumbaoa, vice president for Business Development of SM Hotels and Conventions Corp. (SMHCC) told the BusinessMirror “The renovation will cost P450 million and covers 133 rooms in the Lake Wing of the total 262 rooms at Taal Vista Hotel.” The original Mountain Wing with 127 rooms, he added, was updated prior to the
pandemic and are open to receive guests.
In a separate interview on the sidelines of the recent Tagaytay Food Festival, SMHCC Senior Vice President for Operations Cathy Hidalgo-Nepomuceno said, “It’s time to refresh [the Lake Wing] and to give it a new look, because we have a lot of regular leisure guests, who come on the weekends, and the corporate clients [on weekdays]. So by January, it’s a totally new wing.”
Also being constructed, is a Presidential Villa, which “will cater to new markets. It’s going to be huge with a beautiful view, right at the corner of the Lake Wing….With the Presidential Villa, we will be
matching a very curated, upscale wedding package. There will be a dining room for 12, and there’s a small function room at the bottom, so we can also cater to small, C-Level (i.e., chief executives) planning sessions, elevated meetings with digital media, among others,” she added.
Mixed market supports weekdays, weekends SHE noted that TVH, with its picturesque view of Taal Volcano and lake, continues to cater to the Manila market, such that the hotel is “fully occupied” on Fridays and Saturdays. Their corporate clients and the MICE (Meetings Incentives
Conventions
Editor: Jennifer A. Ng
Regulators finalizing rules for new derivative trading
REGULATORS are still finalizing the rules on a new derivative product called Global Philippine Depository Receipts (GPDR), the launch of which has been pushed to next year.
Philippine Stock Exchange Inc.
(PSE) President and CEO Ramon S. Monzon said it is finalizing the rules that will govern GDPR trading at the local equities market.
“We are working together with the SEC (Securities and Exchange Commission) on the rules and regulations. We submitted our initial proposed rules for the trading of the GDPRs. We received com -
the option to convert them into equivalent shares or units of the underlying security. This innovation will allow local investors to diversify their portfolios by trading foreign securities within the domestic market.
ments from SEC end of May, and they’re working to address those comments,” Monzon said. “So it’s still an ongoing process.”
The GDPRs are peso-denominated instruments that represent an economic interest, but not voting rights, in an underlying security listed in an overseas exchange.
Holders of GPDRs will have
Philippine listed companies, on the other hand, will also be traded in other exchanges, which in turn should generate additional liquidity for the local market, Monzon said.
The GPDRs were first targeted to be implemented by the first quarter of 2025, but regulators are pushing its introduction by next year.
Monzon said the most impor -
tant ingredient to get it launched is the regulatory framework.
“On one hand, we’re glad that the CMEPA [Capital Markets Efficiency Promotion Act] has introduced a very specific… expanding the definition of securities to include other securities, in addition to stocks. So I guess depository receipts and derivatives should be covered by that,” he said.
“So that ambiguity has been addressed by the same so now we just need to really come up with the regulatory framework for the trading, the settlement and I guess investment protection component of the (product),” Monzon added.
He said the PSE is still conducting dialogues with other exchanges overseas who have extensive experience in derivatives.
DOE receives ₧57M from PCSO
TBy Lenie Lectura @llectura
HE Department of Ener
-
gy (DOE) announced last Tuesday it has received P57.4 million from the Philippine Charity Sweepstakes Office (PCSO) to help bankroll the government’s efforts to expand renewable energy (RE) development in the country. The amount represents PCSO’s 2023 contribution to the Renewable Energy Trust Fund (RETF), as mandated by the Renewable Energy Act of 2008. The law allocates
1.5 percent of PCSO’s net annual income to the fund.
“This contribution is not just a financial boost—it’s a step forward in expanding energy access, innova-
tion, and sustainability,” said DOE Undersecretary Rowena Guevara, who formally accepted the check the other day on behalf of the agency.
The DOE, through the RETF Committee, has been actively collecting and managing these funds following the issuance of Department Circular No. DC2022-060018, which laid down the guidelines for fund sourcing, accounting, and auditing.
To ensure the effective use of the RETF, the DOE signed a Memorandum of Agreement with the Department of Science and Technology, in collaboration with the
Philippine Council for Industry, Energy and Emerging Technology Research and Development, to support selected research and development initiatives. These include projects on sustainable aviation fuel production, RE mapping systems, and solar PV market assessments.
The DOE has set a target to achieve a 35 percent RE share in the power generation mix by 2030, with an aspirational goal of 50 percent by 2040. This is part of a broader effort to transition to cleaner energy sources and reduce reliance on fossil fuel.
MPIC opens care facility in Cavite
THE Metro Pacific Investments Corp. (MPIC) announced that its digital healthcare arm Metro Pacific Health Tech Corp. (DBA mWell PH) launched its first primary care facility at the Main Square Mall in Bacoor, Cavite, According to MPIC, the facility would showcase mWell PH’s digital health suite, particularly the clinic management system and the digital Health ID.
“Healthcare is a pillar of national progress. While Mwell began as a digital platform, we’ve always believed that true impact lies in integration— where technology meets real, on-theground care. This Primary Care Facility brings that vision to life. It’s a tangible step toward a more inclusive healthcare system, one that ensures that every Filipino—whether online or on-site—has a clear path to better health,” MPIC and mWell Chairman Manuel V. Pangilinan said.
“Through digital innovation, we’re creating a system that supports early detection, empowers preventive care, and delivers continuity of care,” mWell PH President and CEO June Cheryl “Chaye” Cabal-Revilla said.
Cabal-Revilla, also the chief finance, risk and sustainability officer of MPIC, added that the PCF “will uti-
lize our HealthSuite.” The latter, she said, is a range of enterprise health solutions “designed to elevate the healthcare experience.”
According to the company, the facility offers a “smooth, technology-enhanced” experience with digital patient records, shorter wait times and efficient operations. In partnership with 1Life Inc., the facility provides diagnostic and laboratory services to ensure speed, accuracy, and convenience in every visit.
The said facility is designed to serve as a venue to fully utilize mWell PH’s digital Health ID. The one patient, one record concept, facilitated by the digital ID, aims to create a single, centralized and secure electronic health record for each patient, improving data accessibility and reducing errors across different healthcare providers.
The facility enables patients to access medical consultations, diagnostic testing with fast results, maternal and childcare, immunization, minor procedures, lifestyle and nutrition counseling, and pre-employment medical exams. On-site teleconsultations with specialists and wearable health monitoring devices “further enhance the integrated care experience.” VG Cabuag
DBy Manuel T. Cayon Mindanao Bureau Chief @awimailbox
The new project covers eight hectares in an elevated area near the Tigatto entrance. It features 91 lots, each with a minimum size of 300 square meters and has a density of 12 lots per hectare.
The Alsons Dev said the NR 5 has generous allocation of green spaces and more than half of the development is dedicated to wide roads, landscaped lanes, open areas, and community amenities.
AVAO CITY—The Alcantara-owned Alsons Development and Investment Corp. (Alsons Dev) unveiled recently its low-density residential enclave inside the exclusive Northtown township in the northern suburban area of Tigatto. According to Alsons Dev, its Northtown Residences 5 (NR 5) was its latest expansion within the Northtown township in Buhangin, some 15 kilometers north of downtown Davao.
By Reine Juvierre Alberto @reine_alberto
DIVIDENDS received by the national government from state-run corporations reached P105 billion as of July, according to the Department of Finance (DOF).
Latest data from the DOF revealed dividends remitted by governmentowned and -controlled corporations (GOCCs) to the government amounted to P105 billion. This was contributed by 52 GOCCs who, under Republic Act 7656 or the Dividend Law, are required to remit their net earnings during the preceding year as dividends to the government.
Dividends are crucial for the government as these non-tax revenues support in funding priority projects and programs without imposing new taxes on the public.
Among the top 10 dividend contributors shared by the DOF, the Land Bank of the Philippines ranked first with P26 billion in remitted dividends.
This was followed by the Bangko Sentral ng Pilipinas with P18.912 billion in dividends and the Philippine Amusement and Gaming Corp. with P12.678 billion.
The Philippine Deposit Insurance Corp. also handed over P10.130 billion, while the Power Sector Assets and Liabilities Corp. turned in P8.958 billion.
Trailing the top 5 GOCCs are the Philippine Ports Authority with P5.203 billion; Manila International Airport Authority, P3.320 billion; Clark Development Corp., P2.488 billion; Philippine National Oil Company, P2.426 billion; and, Bases Conversion and Development Authority, P2.2 billion.
There are also about 13 GOCCs that contributed at least P1 billion.
Finance Secretary Ralph G. Recto said he expects dividends to reach P110 billion to P130 billion by the end of the year.
“For dividends, plus P90 [billion] to P110 [billion] above the target based on the BESF (budget of expenditures and sources of financing),” Recto told reporters.
According to the BESF, P20 billion in dividends will be collected from GOCCs this year.
Recto said the DOF will not increase the dividend remittance rate of GOCCs, after it requested to hike the government’s share to 75 percent last year.
The Finance chief said the move is one of the government’s strategies to increase revenue collection without imposing new taxes to earmark the current administration’s priority infrastructure and socio-development projects.
The government aims to raise P4.520 trillion in revenues this year.
THE 3-year Treasury bonds (Tbonds) were fully awarded at rates higher than the previous auction but lower than the secondary market benchmark, due to healthy demand for the debt papers.
The Bureau of the Treasury (BTr) sold last Tuesday the full P20 billion in reissued 3-year T-bonds it offered during the public auction.
The government IOUs fetched an average rate of 5.817 percent. This went up by 5.7 basis points from the previous auction’s 5.769-percent yield on June 25. However, the yield was lower by 2.3 basis points from the Philippine Bloomberg Valuation (PHP BVAL) rate for the 3-year tenor at 5.760 percent as of July 21.
Yields of the 3-year T-bonds went for as low as 5.790 percent to as high as 5.824 percent. The coupon rate was set at 3.625 percent. Tenders for the T-bonds amounted to P46.752 billion, making the
Young Filipinos’ savings growing—BSP
By Cai U. Ordinario @caiordinario
KIDDIE and teen savings accounts may have declined but there are now more of these accounts that hold over P1 million as of March 2025, according to data released by the Bangko Sentral ng Pilipinas (BSP).
As of the first quarter, kiddie and teen savings accounts contracted 2.4 percent to 1.86 million in 2025 from 1.91 million in 2024. However, deposit amounts grew 7.39 percent to P56.066 billion in March 2025 and the number of actual depositors contracted 1.46 percent to 2.05 million.
A depositor (and/or, in trust for) who has several types of accounts (i.e., current, savings, time, etc.) is counted as one, the BSP explained. Of these deposit accounts, 5,880 contained deposits of P1,000,000.01 to over P5 million—amounts that are beyond the P1 million insurance coverage provided by the Philippine Deposit Insurance Corp. (PDIC) -- in March 2025. This represented a 3.69 percent increase from the 5,671 recorded in March 2024. The data showed these kiddie and
GUANGZHOU, China—
Aside from being the biggest city in both the Greater Bay Area (GBA) and the Pearl River Delta, Guangzhou serves as the capital of Guangdong, which has the largest provincial gross domestic product (GDP) in China. Formerly known as Canton, it has a long history as a trade and manufacturing hub dating back to ancient times when it was the key starting point of the Maritime Silk Road.
Twice a year since the spring of 1957, Guangzhou has been hosting the Canton Fair—the oldest and largest trade fair in China. According to the Philippine Statistics Authority’s February 2025 report, Guangdong continues to be the Philippines’s number one trading partner among the 23 Chinese provinces.
The Guangdong-Hong KongMacao GBA consists of nine megacities and two special administrative regions with a total population of 86 million as the largest urban area in the world. In 2022, the GBA’s combined regional GDP reached $1.95 trillion equivalent to over 10 percent of China’s GDP. It houses the most innovative tech
auction 2.3 times oversubscribed.
The demand was slightly higher than the P40.681-billion bids tendered during the previous auction for the same tenor.
The government securities have a remaining life of two years and eight months to maturity on April 22, 2028. Rizal Commercial Banking Corp.
Chief Economist Michael L. Ricafort said the supply of T-bonds in the market could increase ahead of the Treasury’s issuance of retail Treasury bonds (RTBs) this quarter.
The government is eyeing to raise P200 billion from retail and individual investors through its 31st tranche of RTBs. (See: https://businessmirror.com.ph/2025/07/22/ngeyeing-%e2%82%b1200b-fromrtb-offering-this-q3/).
While this adds more debt papers into the market, which could absorb excess liquidity, Ricafort said about P516 billion in 5-year RTBs will ma-
teen savings accounts hold a total of P56.07 billion as of March 2025. Of this amount, P11.877 billion were lodged in accounts of those with P1,000,000.01 to over P5 million during the same period.
The deposits of those who have kiddie and teen savings accounts with P1,000,000.01 to over P5 million increased by 4.07 percent compared to the P11.412 billion recorded in March 2024.
The bulk of these kiddie and teen savings accounts are lodged in universal and commercial banks (UKBs) followed by thrift banks (TBs) and rural and cooperative banks (RCBs).
Among UKBs, there are 5,751 accounts containing P11.636 billion. The deposit accounts increased 3.27 percent while the amounts increased 3.49 percent in March 2025.
companies in China, majority of which are in Shenzhen–the “Silicon Valley of Asia.”
As an essential part of Mainland China’s innovation strategy, Guangzhou is recognized as a technology powerhouse in research & development, biotech, artificial intelligence (AI), automotive manufacturing, and smart infrastructure. Across the city, there are 161 data centers operated by 41 providers. Its data center industry is anchored on both public and private sector development led by the country’s state-owned telecommunications enterprises.
China Telecom Corp., the second largest operator after China Mobile Ltd., has massive investments in Guangzhou focusing on green and AI-optimized infrastructure in support of the digital economy. Its data center invest-
ture on August 12 and investors will likely reinvest it.
“Offsetting positive factors: Still benign inflation and more dovish signals from local monetary authorities recently; Trump tariff/trade wards could slow down the US/global economy that, in turn, could slow down the local economy,” Ricafort said. This could warrant further accommodative monetary policy, according to Ricafort, citing statements issued by local monetary officials.
Finance Secretary Ralph G. Recto said he expects a 50-basis points rate cut all the way until the end of the year, bringing the key policy rate to 4.75 percent. (See: https://businessmirror.com.ph/2025/07/22/ mb-seen-dealing-2-rate-cutsmore-till-end-2025/).
Recto said he is in favor of delivering the rate cut twice, 25-basis points each. The Monetary Board still has three more policy meetings left this
The BSP data showed there are 113 kiddie and teen savings accounts with P1,000,000.01 to over P5 million and hold a total of P219 million.
These deposit accounts posted a 26.97 percent increase while the amount grew 42.16 percent in March 2025 compared to the previous year.
Among RCBs, there were 16 of these accounts which amounted to P22 million. It can be noted that there were no kiddie and teen savings accounts in RCBs that were higher than P4 million.
The data also showed there was a 23.08 percent growth in deposit accounts and a 44.99 percent increase in the amount of savings these ac-
ments include the GBA’s 5G Cloud Computing Center, the Shaoguan Integrated Data Center and the Pazhou Smart Compute Center.
In the Philippines, China Telecom has made significant strategic investments–most notably through its 40 percent stake in DITO Telecommunity Corp. and its involvement in Asia Link Cable (ALC), a joint project with Globe Telecom Inc., Singapore Telecommunications Ltd., and Brunei’s Unified National Networks Sdn. Bhd.
The ALC is approximately 6,100 kilometers long, and this $300-million Southeast Asian subsea cable system will connect Hong Kong to Singapore as its main trunks, with branches into the Philippines, Brunei, and Hainan province in China. It is designed to boost data capacity and connectivity in the region amid rising digitalization to meet the growing needs for data consumption.
Through its consortium with DITO, China Telecom has committed to invest over $5.4 billion to build 4G and 5G networks nationwide. Last week, DITO announced that it breached the 15-million subscriber mark in barely four
year—on August 28, October 9 and December 11.
This would make borrowing costs cheaper for the government as it will pay lower interest on new debt.
This July, the government raised a total of P105 billion from selling Tbonds. Next week, 20-year tenor Tbonds will be offered by the government to generate P20 billion more.
This is part of the government’s borrowing plan this year to raise a total of P2.545 trillion, wherein P2.037 trillion will be raised domestically, while P507.408 billion will come from external sources.
The government has already borrowed P1.327 trillion as of the end of May.
Outstanding debt of the government, meanwhile, reached a new record-high of P16.752 trillion as of end-April. This increased by 11.56 percent from P15.017 trillion in the same period last year. Reine Juvierre S. Alberto
counts contained.
Overall, the central bank’s data showed that there was a 19.16 percent growth in the number of savings deposit accounts to 150.82 million as of March 2025 from 126.57 million in March 2024.
In terms of the amount of savings deposited, there was an increase of 5.42 percent to P20.16 trillion in March 2025 from the P19.12 trillion posted in March 2024.
In terms of the number of depositors, there was a 16.72 percent growth to 134.53 million in March this year versus the 115.25 million recorded in March last year.
The bulk of deposit accounts nationwide are accounted for by UKBs with 94.24 million deposit accounts
years of operation. This achievement came on the heels of its recent recognition as the fastest mobile network in the Philippines by Opensignal, a global mobile markets authority based in the United Kingdom.
DITO is the only Filipino telco that has a full-scale 5G stand-alone network. The robust growth of its fixed wireless access service has reached 250,000 subscribers as of last month. This was disclosed recently in a media briefing at its Bonifacio Global City headquarters, where it launched the DITO Home WoWFi Pro—a plug-andplay device that delivers up to 100 Mbps in Wi-Fi speed. Such collaboration has the potential to significantly reshape the Philippine banking and finance industry, particularly in the fields of cybersecurity, fintech connectivity, mobile financial services, and digital infrastructure. As more Filipino banks are expanding digital services to rural areas, they can connect with their branches and ATMs via 5G and fiber technologies to enable real-time, high-speed transaction processing even in remote provinces.
This would impact the clients of
local banks and financial services companies positively via faster networks and cloud services as well as more convenient e-wallets and quicker remittances. Increased banking competition will also apply pressure on traditional players to upgrade their systems and collaborate with the more agile fintechs. Unbanked or underserved communities stand to benefit from widespread connectivity through better signal and cheaper data— overcoming a major barrier to mobile bank access. Even without bank accounts, they can make payments with e-wallet systems acting as the gateway to inclusive finance. Farmers and sari-sari store owners could then gain tools for capital along with small and medium enterprises, thus gaining financial literacy and empowerment in an increasingly digital environment.
Joseph Gamboa is the chairman of the Media Affairs Sub-Committee on Publications of the Financial Executives Institute of the Philippines (Finex) and a director of Noble Asia Industrial Corp. The views expressed
By Bless Aubrey Ogerio
THE Social Housing Finance Corp. (SHFC) promises that the expanded feature of its community mortgage program (CMP) would “transform” informal settler communities beyond land ownership.
SHFC President and CEO Federico A. Laxa said the upgraded program, now part of the expanded “Pambansang Pabahay Para sa Pilipino (4PH)” project, includes options for site improvement loans that cover road networks, drainage systems and utility access.
“In the past, one of the common criticisms of the CMP was that we were simply buying land for informal settlers; but nothing was being done afterwards to actually improve their living conditions,” Laxa said in Fili-
pino in a forum last Monday. Under the program, organized communities may also access future home improvement loans, Laxa added. At least 34 CMP projects have been approved by the Department of Human Settlements and Urban Development (DHSUD), with the SHFC eyeing to award them by October. The projects are expected to benefit over 5,000 families. The mortgage program allows communities to pool loans to acquire land they currently occupy. According to the SHFC, the shift follows a directive from the Secretary of the Department of Human Settlements and Urban Development to include a wider range of housing modalities in 4PH, including horizontal development and resettlement programs, alongside high-rise housing.
FINEX FREE ENTERPRISE
Joseph Araneta Gamboa
NEW LOVE
THE actress has experienced heartbreak and her marriage breaking apart. The other party has moved on and seems happy with his life. Now, it is her turn. The actress is dating again and people are happy for her because she deserves it. The actress is a good person. She did not expect her marriage to be over so soon. Her relationships have always been long term. In fact, she and her ex were together for a number of years before they decided to get married. Before she met her husband, she was with an athlete (now married to a TV host) for eight years.
LIKES
‘EM YOUNG
THE politician is the baby daddy of a celebrity probably young enough to be his daughter. She is, in fact, on the family way again. But what is this we hear about him messaging young girls on social media. Some of the girls he has messaged or had flings with are even younger than his current partner so this latest message, which he posted publicly by accident, is nothing new. It’s so strange that he’d still look for someone younger as he is quite old and his partner is very beautiful and accomplished.
NIGHT OUT
A YOUNG starlet and an actress she’s working with were spotted on a night out somewhere, fueling rumors that the actress was the cause of the breakup of the starlet with her longtime ex. The actress is known for wearing her heart on her sleeve and letting her relationships hinder her career. She’s had many amazing career opportunities that got away because of her decisions, which is a pity because she is a looker and quite talented. Many say that she could have been a bigger star if only she wasn’t like this. So, is she dating the young starlet or was it just workmates having a meal together?
PREGNANT OR NOT
Show BusinessMirror
Charli XCX and The 1975 drummer George Daniel are married
By Eugenia Last
is a feature co-producer and co-writer on two BRAT tracks. A
GMA NETWORK REINFORCES DIGITAL LEADERSHIP, REACHING NEW HIGH IN WORLDWIDE RANKING
THERE are rumors that an A-lister is pregnant but talks like these, unless persistent, are unfounded. Kibitzers probably based their speculations on a recent photo showing the A-lister appearing to have gained a bit of weight, which could be the result of a bad angle and not actual pounds. In any case, the A-lister is very much single, as far as we know, and she has the means. She is also old enough to have a baby if she wants to. But first, people want to know if she is dating the guy they think she is dating.
THE country’s leading media company, GMA Network continues to strengthen its leadership in the digital space, securing the No. 15 spot in the Tubular Leadership Worldwide rankings for June 2025, according to data from global analytics company Tubular Labs.
Up from its No. 18 position in May, GMA Network’s steady rise reflects its strong performance across various digital platforms. Further, GMA remains the highest-ranking media company in the Entertainment and Media category in Southeast Asia. In June alone, GMA Network’s official social media properties tallied a combined total of 4.9 billion video views: 2.4 billion on Facebook, 1.5 billion on TikTok,
and 935 million on YouTube. GMANetwork.com is also ranked No. 1 in the Local News and Media Publisher category for the same period, according to the Similarweb Top Websites Country Rank. It was ahead of Inquirer.net, ABS-CBN, Philstar.com, and Rappler.
As GMA Network celebrates its 75th anniversary, this latest digital triumph underscores its dedication to innovation and the production of compelling content that resonates with both local and global audiences.
Audiences can stream GMA programs daily via Kapuso Stream at www.gmanetwork.com/ kapusostream or www.youtube.com/gmanetwork.
Dance production examines the power of algorithm
SET to explore the connection among education, artistry, and social media in the field of dance, the upcoming show Echoes: Moving Beyond the Current will dazzle the audience with its display of choreographic experimentation and personal narratives.
It is a deep reflection on the role of formal learning in empowering dancers to critically engage with online platforms, resist the pressures of algorithm-driven trends, and remain grounded in their own artistic intentions.
The public performance follows an individual untouched by formal training or digital influence, whose identity will then be nurtured by education.
Upon entering the virtual world, authenticity is challenged by perfection, and a question lurks: “Are you in control, or is the algorithm controlling you?”
This thesis production will be spearheaded by students from the
De La Salle-College of Saint Benilde (DLS-CSB) School of Arts, Culture, and Performance (SACP) pursuing a degree in Bachelor of Performing Arts Major in Dance (BPAD).
Dancers to be featured include Julia Gillego, Nicole Francisco, Marvis Fornias, and Genesis Arabe.
Echoes: Moving Beyond the Current is directed by dance major Maria Pazcoguin.
The 90-minute thesis dance production showcase will be staged at
thinking and implementing positive change. Set boundaries to offset anyone taking up too much of your time. Protect your rights, space and ability to satisfy your needs first. Happiness is your responsibility, so don’t allow anyone else to invade your freedom. ★★★
CAPRICORN (Dec. 22-Jan. 19): Set goals and stick to your schedule. Meeting the demands you set for yourself will build confidence that allows you to go the distance and achieve even more. Keep your budget in mind and quickly shut down anyone suggesting you spend more than your budget allows.
AQUARIUS (Jan. 20-Feb.
the 5th Floor, Theater of the Benilde Design + Arts Campus. Regular shows are set on Friday and Saturday, August 8 and 9, 2025, at 4 pm and 11 am, respectively. Tickets are priced at P300 for Benildeans and P350 for visitors.
The gala, which includes a documentary of the production, is scheduled on August 9 at 3 pm. Gala tickets are P400. More information are available at tinyurl.com/60SecondsProduction.
CHARLI XCX
WANDERING WONDERS WITH YASMIN
By Kaka Ayu
BEFORE all the suitcase packing, airport buzz, and rolling cameras, Yasmin once lived her humble beginnings in the countryside. But the confines of her comfort would later shape her extravagant travels.
Hailing from the Zamboanga Peninsula, Mitzi Yasmin M. Sorg had memorized Zamboanga City, Dipolog and Salug like the back of her hand. The diversity of her upbringing and the joy of the tranquil made her wonder what life could be outside her comfort.
It was then that she immersed herself in hospitality and earned a degree in Hotel and Restaurant Management from Southwestern University, carrying her wanderlust. Her early career included work in food and beverage services, and helping manage their restaurants and financing business where she would garner skills that would add depth to how she looked at the world in a more intricate way.
Mitzi’s love for travel didn’t begin with social media. It began at home, with her parents taking her to different places with her first trip abroad being Switzerland. Back then, she posted unedited photos simply to share bits of her day: what she wore, what she ate, where she’d been.
Now that she’s set to have her own life, her wanderlust has become more intense, backed up by her inclination to share the world as she sees it through social media.
But as we all know, breaking into the influencer space wasn’t without its hurdles. The world of content creation demanded more than just a camera and a passport. So in the midst of finally taking her love for traveling to the level she wanted, she began studying, researching, and sharpening her storytelling while familiarizing herself with the latest technology.
Three years ago, she began vlogging with her first content being a collaboration shot at Okada Hotel. Soon came international collaborations that would project her as one of Instagram’s best-loved resident vloggers.
She’s most thankful to her followers who made her passion come to life, from her classmates in digital schools, followers from viral videos, to friendships she nurtured through networking and events. She earned her connections and her own internet community through what she does best, which are storytelling and an effortless drive to bring the world closer to her and to every person who aspires to travel like her.
For Yasmin, solo travel is less about the destinations and more about self-empowerment and camaraderie among women. She aims to lift other women by collaborating with them to help them familiarize themselves with the social media world she once got lost in.
“I use my platform to normalize [traveling], share tips that demystify it, and remind women they can trust themselves, set boundaries, and still say yes to adventure. Empowerment, for me, is about showing what freedom and self-trust can look like in real time.”
Her followers mainly love her because of her passionate and consistent vlogging and storytelling. Whether she’s dining alone, making new friends unexpectedly, or humorously getting lost in a city, her content brings comfort and assurance to her followers that traveling brings out the best in us.
“I go to places I like and feel safe in, and I share them with the world by keeping it real.” Yasmin’s life has been defined by her fulfilling travel videos and multiple passport stamps. But to her followers, it is how she made travel feel personal and powerful—beyond sightseeing and money spending.
Image BusinessMirror
Radical self-honesty
IN a world that rewards curated versions of ourselves like highlight reels on social media, selective storytelling, or people pleasing behaviors, telling the truth to ourselves can feel like swimming against the current. But what if the biggest breakthroughs in our lives do not come from being better, faster, or more likeable but from being real?
Radical self-honesty is the courageous act of seeing yourself clearly, without distortion, excuses, or flattery. It is not about beating yourself up or dwelling on flaws. It is about becoming your own mirror, teacher and ally. It is about asking yourself difficult questions, sitting with uncomfortable truths, and choosing clarity over comfort. This practice can lead to better decisions, stronger relationships, and a more grounded sense of self. But how do you cultivate this brave way of living?
It starts small, with moments of quiet and truthtelling. It begins by listening to the stories you tell yourself. We all carry internal narratives: “I am not good with money,” “I always mess things up,” or “I am the responsible one who must keep everyone together.” These stories shape how we see ourselves and respond to the world. Start noticing what you tell
yourself when things go wrong or even when they go right. Ask, “Is this really true, or just a story I have repeated so often that it feels true?” Replace vague self-judgments with facts. For instance, instead of saying, “I am lazy,” try, “I have been putting off this task because I feel overwhelmed, not because I lack discipline.”
Once a day, look in the mirror and ask, “Where am I not being fully honest with myself?” It might be about a job that is no longer fulfilling, a hobby that no longer inspires you, or a habit you know is holding you back. The goal is not to have the answers right away. It is simply to start asking the question. Over time, this daily moment of reflection builds selfawareness and invites change.
Vague feelings are hard to act on, so get specific and write it down. When you feel off or stuck, write down exactly what you are feeling and why. Use prompts like: “What am I avoiding?” “What truth am I afraid to admit?” or “What part of myself am I pretending does not exist?” Writing helps separate your thoughts from your identity and creates space for clarity. For example, admitting on paper, “I say yes to things I do not want to do because I fear being seen as difficult,” can be the first step to setting healthy boundaries.
Radical self-honesty does not mean you have to do it all alone. Ask a friend or mentor for feedback, “Is there anything you think I might not be seeing about myself?” Choose someone who wants the best for you and will speak with kindness and truth. Be open and not defensive. Sometimes the things we most need to hear are the ones others see most clearly. Hearing “You tend to avoid conflict even when it matters” might sting, but it can also open the door to growth. Telling yourself the truth can also feel like a cold
The real cost of ‘Proudly Filipino’ clothing
By Pauline Joy M. Gutierrez
IN recent months, online debates have reignited around a recurring question: why are clothes from “Proudly Filipino” brands often priced higher than those offered by fast fashion chains?
Many argue that local shouldn’t mean expensive, while small-scale designers and social enterprises try to explain the real costs behind local production.
To better understand the pricing of locally produced garments, BusinessMirror talked to Tayo Studio, a local fashion label founded by Yong Davalos in 2019, to break down the various components that shape the cost of Filipino-made fashion.
THE
COST OF LABOR
ONE of the biggest factors affecting the price tag of locally made clothing is labor, and whether a brand ensures fair pay for the people making their garments.
Tayo Studio offers an example of ethical labor principles in practice. “Everyone is paid fairly and no one is overworked,” said Rio Davalos, the brand’s chief operating officer, in an interview with BusinessMirror
“We adhere to labor codes, we provide proper breaks, and when it’s too hot in the summer, we add extra rest periods to keep our team comfortable,” she added.
The brand’s production facility in Balintawak, Quezon City, is staffed primarily by women. “About 90 percent of our production team are women,” Davalos noted. “We also employ older workers and members of the LGBTQ+ community.”
In addition to legal wages and governmentmandated benefits, Tayo Studio provides financial assistance during emergencies.
During the Covid-19 lockdowns, the company offered stay-in options for workers, covering lodging, electricity, and water. After Typhoon Karina, it distributed relief packs and extended aid to staff and their families, even while the business itself was struggling.
“We believe the price point we set reflects the value of the work and the lives behind it. One of our seamstresses was able to send her child to school. Another finally bought a mattress for the first time. We also have a senior employee who still supports her aging parents,” Davalos shared.
MATERIAL SOURCING
UNLIKE mass market retailers that purchase fabric in bulk from international suppliers, many local brands, including Tayo Studio, use “deadstock” fabric: leftover textiles from large production runs that would otherwise be discarded.
“We source locally from suppliers here in Manila, depending on what’s available,” explained Davalos.
“It’s not a continuous fabric flow, which means each collection is determined by the inventory of unused fabric at the time. We design around what exists to reduce waste.”
While this method significantly reduces environmental impact, it also introduces production challenges, such as limited fabric quantities,
splash of water, but embrace the discomfort. It wakes you up. Remember that discomfort is not the same as danger but often a sign you are moving toward growth. Sit with it. Let it teach you. For instance, realizing you have been chasing someone else’s definition of success might feel like a loss at first, but it also creates room to redefine success on your own terms.
Radical self-honesty invites you to take stock of your reality, not your ideal. You might want to be someone who wakes up at five in the morning and exercises daily. But if you are currently sleeping past nine and skipping breakfast, begin there. You need to start where you are, not where you want to be. Change begins with acceptance. Say, “This is where I am today, and I am willing to take the next step,” instead of pretending you are already where you want to be.
Remember also that the journey is not about perfection. You will have moments when you fall back into old habits, make excuses, or avoid hard truths. That is part of the process. Radical honesty includes compassion. Tell yourself, “I missed the mark today, but I will try again tomorrow.” Self-forgiveness keeps you moving forward without getting stuck in shame.
Every time you choose honesty or when you say no to something that feels wrong, admit the mistake and acknowledge it. These moments are victories. They build a life rooted in integrity. Over time, you will notice that living truthfully, while sometimes difficult, brings a deep sense of peace.
Radical self-honesty is not a destination but a practice. It is a habit of checking in, peeling back the layers, and choosing truth over comfort. It will not always feel good, but it will feel real and that realness is the foundation for a meaningful life. In a world full of filters and facades, telling yourself the truth might just be the most radical thing you can do.
inconsistent material availability, and longer lead times for design and prototyping. These constraints, in turn, impact cost.
SCALE AND DESIGN
MASS produced clothing benefits from economies of scale. When thousands of identical garments are manufactured in factories using automated machinery and minimal oversight, the cost per unit drops significantly.
In contrast, brands like Tayo Studio operate in smaller batches with more hands-on processes. “Our design process begins with local sourcing and sketches,” said Davalos. “Each piece goes through product development and quality control before final approval by our creative director.”
Design also plays a role in determining the final price of a product. While imported fast fashion often follows seasonal trends from Western markets, local designers must account for comfort and versatility.
This focus, according to Davalos, requires additional planning and testing to ensure the garments are suitable for everyday wear.
“At Tayo Studio, we design pieces you can wear to the office during the day and still wear to dinner or a formal event in the evening,” she said, adding that they also design with the Philippine climate in mind, using breathable fabrics such as linen, cotton blends, and rib knits.
Its latest collection, “Coastal Corp,” features matching sets with custom prints and emblems
inspired by coastal landscapes, using airy, naturalfiber textiles.
INCLUSIVITY
INTENTIONAL inclusivity is another factor that adds to the cost of production. “Tayo Studio started as a passion project for my sister,” said Davalos. “A client once shared how frustrated she was with her body because nothing in the market would fit her,” adding that this moment shaped how they approached the brand.
The name itself reflects the brand’s values. “Tayo means us and we,” she explained. “We offer a wide range of styles in different sizes, from XS to 4XL. We aim to give women the option to be fashionable at any size, while still making sure the clothes are stylish and figure-flattering.”
BEYOND THE PRICE TAG
WHILE the price points offered by “Proudly Filipino” labels reflect added considerations for ethical production, others may simply follow market positioning or branding strategies. For brands like Tayo Studio, prices are tied to specific choices around sourcing, staffing and production. Ultimately, the price tag on a garment can signal many things, from the cost of materials to the values behind the brand’s business model. For consumers, the challenge is in understanding what those prices represent and which brands are transparent about what goes into the clothes and products they sell.
THE challenge for consumers is in understanding what those prices represent and which brands, like Tayo Studio, are transparent about what goes into the clothes and products they sell.
MITZI YASMIN M. SORG indulges her wanderlust in some of the world’s most singular landmarks.
Vivant strengthens corporate governance with appointments
Publicly listed conglomerate, Vivant Corporation, announces the appointment of Alfredo S. Panlilio as an Independent Director to its Board. Panlilio brings extensive leadership experience from his roles on the boards of Meralco, PLDT, and Smart, and currently serves as President of the Management Association of the Philippines (MAP). With a distinguished career across the energy and technology sectors, he adds strategic depth and governance strength as Vivant continues to deepen its leadership bench.
To further align leadership with business priorities, Atty. Jose M. Layug, Jr. has been appointed to the Board of Vivant Energy Corporation (VEC), the group’s power generation and energy solutions business unit. A former Energy Undersecretary and one of the leading voices in Philippine energy law, Atty. Layug has served in various governance
roles across the Vivant group since 2022. Most recently, he chaired Vivant Corp.’s Related Party Transactions and Corporate Governance Committees, while also serving on the Audit and Risk and Sustainability Committees. His appointment to VEC reflects a continued commitment to bringing deep sectoral insight to the group’s
energy platform as it navigates the evolving energy landscape. These appointments reflect Vivant’s efforts to align leadership with the evolving needs of the conglomerate — strengthening strategic oversight and governance at the corporate level, while reinforcing technical and sectoral expertise at the subsidiary level.
Be Who you WANNAVi with The All-New Honda NAVi
GET ready to turn heads, break norms, and cruise through life with confidence because The All-New Honda NAVi has finally arrived in the country raising the bar for what it means to ride with personality and performance.
To mark its exciting arrival, Honda Philippines Inc. (HPI) hosted a dynamic event attended by the Media, Content Creators, Accessory Makers, and Motorcycle Enthusiasts. The event kicked off with the unveiling of The All-New Honda NAVi with an exclusive test ride, giving the chance to experience its fun, agile and easy-to-ride performance firsthand. Ahead of the launch festivities, Honda successfully held a Line-Off Ceremony last June 10, 2025 at HPI factory in Tanauan City, Batangas, officially signaling the start of local production of The All-New Honda NAVi here in the Philippines. With this milestone, Honda reaffirms its commitment to delivering innovative, locally made products that resonate with the needs and lifestyles of Filipino riders.
If you’re looking for a more practical on-the-go scooter for beginners and those who value both style and performance, look no further than The All-New Honda NAVi. Designed for today’s young and expressive generation, this latest model encourages riders to live in the moment, embrace self-expression, and ride on their terms with the bold and empowering call: Be Who You WANNAVi.
This model makes riding easy and safe with its CVT Automatic Transmission, eliminating the need to shift gears or operate a clutch. Simply ready and roll, making it particularly suitable for beginner riders. It also features Honda’s Combined Braking System (CBS) to ensure safer, more stable braking, especially on busy urban roads.
True to its bold spirit, The All-New Honda NAVi features a compact and stand-out unique design that distinguishes it from other scooters on the road. Its unique outline invites creativity, as the scooter is built for customization, allowing each rider to modify or personalize it to match their lifestyle and personality, whether minimalist or expressive, adventurous or sleek.
The All-New NAVi is equipped with suitable features that make daily commuting light,
enjoyable, and fuel-efficient. It runs on a 109cc engine powered by Honda Eco Technology (HET), delivering a strong yet environmentally friendly performance. With an impressive fuel economy of 48.4 km/L based on WMTC at a 3.5-liter fuel tank, it allows riders to go the distance with fewer fuel stops—making it perfect for students, young professionals, and first-time scooter riders who need reliable, everyday mobility with integrated 17.5 liters storage compartment offers space for everyday items like wallet or gloves, making it as practical as it is stylish. The ride quality is further enhanced by its Inverted Front Fork and Single Rear Shock, which help absorb road bumps and uneven surfaces common in city streets. This bike also has tubeless tires for better traction and a more comfortable ride. The All-New Honda NAVi handles with agility and ease, perfect for weaving through traffic or navigating narrow alleyways.
Moreover, each The All-New Honda NAVi color isn’t just a shade—it’s a statement of style and substance. Choose the one that speaks to your mood, your mindset, and your movement: Shasta White – WANNAVi CLASSIC Clean, calm, and effortlessly cool. Shasta White channels a fresh presence and relaxed energy. It’s for the rider who stays smooth and posh.
Ranger Green R – WANNAVi FREE
Lighthearted, spontaneous, and always an adventure seeker personality chasing good vibes. Ranger Green R is for the rider who goes with the flow, laughs through the chaos, and doesn’t take life too seriously.
Patriot Red – WANNAVi BOLD High energy and full of attitude. Patriot Red is made for the thrill-seeker who lives loud, rides harder, and isn’t afraid to stand out. Fast-paced, fearless, and always on the go. Black – WANNAVi COOL
Understated yet unshakable. Black represents quiet confidence and total control. It’s for the rider who lets their presence do the talking—no flash, all class.
The All-New Honda NAVi is thoughtfully designed with rider comfort in mind. It features a 762mm Low seat height, which makes The All- New Honda NAVI easy to mount and comfortable to handle, especially for beginner riders or female riders, offering flat footing and better balance for a more confident and secure ride.
The All-New Honda NAVI is now available at all Honda 3S Shops nationwide, with a suggested retail price of P58,900. As part of HPI’s exclusive WANNAVi Deals, customers can enjoy a special introductory price of just P55,900 until August 31, 2025, making it the perfect time to ride home your very own The All-New Honda NAVi. Honda invites you to explore, express, and enjoy the journey ahead. When you ride The All-New Honda NAVi, you’re not just choosing a scooter, you’re choosing freedom, fun, and the power to Be Who You WANNAVi.
For more information, visit www.hondaph.com. Stay updated on Honda’s newest products and promos by following Honda Philippines, Inc. on Facebook at facebook.com/ hondaph, Instagram at instagram.com/hondaph_mc/, YouTube at Honda Philippines_ Motorcycle, and TikTok at tiktok.com/@hondaphilippines. For inquiries, contact (02)-85816700 to 6799, and 0917-884-6632.
Associate Justice Villanueva Affirms Support for New PAPI Leadership
IN a strong show of confidence and commitment to the future of Philippine journalism, Supreme Court Associate Justice Raul B. Villanueva has expressed his full support for the newly installed leadership of the Publishers Association of the Philippines, Inc. (PAPI), headed by President Rebecca Madeja-Velásquez and Chairman/Director for Media Affairs Nelson S. Santos. Villanueva’s affirmation is regarded as a significant endorsement of PAPI’s renewed direction and mission under its new leadership. His public support lends an air of continuity and stability to the organization as it pursues innovation and integrity in media practice.
“I believe in the vision and capability of the current leadership of PAPI. President Velásquez and Chairman Santos have demonstrated unwavering commitment to press freedom, media ethics, and the promotion of responsible journalism,” said Villanueva.
“Their leadership will help reinforce
public trust in media institutions during these critical times.”
Madeja-Velásquez, who recently assumed the presidency of PAPI, is recognized for her dynamic leadership and steadfast advocacy of community-based journalism. Santos, a veteran journalist and longtime media advocate, continues to play a vital role in strengthening PAPI’s national influence through his dual roles as Director for Media Affairs and Chairman.
The endorsement from a sitting member of the Supreme Court underscores the institutional trust and mutual respect between the judiciary and the press. It also highlights the essential role of media organizations like PAPI in upholding democracy, truth, and accountability.
As PAPI ushers in a new chapter in its storied history, Villanueva’s support serves not only as a moral boost to its leadership but also as a rallying call for members and stakeholders to unite under a shared vision of journalistic excellence.
Enchanted Kingdom levels up Eldar the Wizard’s special day with Mega Birthday Bash
ENCHANTED Kingdom, the first and only world-class theme park in the Philippines, brings more magic and fun for its 30th year with the month-long birthday celebration of its iconic character, Eldar the Wizard this July.
As part of The Enchanted Story of Eldar the Wizard campaign, EK honors its most beloved homegrown character through a series of engaging activities, captivating shows, hands-on learning, delightful treats, and plenty of surprises around the park.
Kicking off the festivities for his Mega Birthday Bash, Eldar enlisted the help of his Spaceport and Jungle Outpost buddies, Morgom, Cromatia, and Snaptooth in hiding invitation cards for his special day on their respective zones last July 12, 2025 Park guests who were able to find Eldar’s Missing Birthday Invitations enjoyed minigames and enchanting treats.
The enchantment continued on July 19, where guests helped Ogg the Guard in The Search for Eldar’s Birthday Hats at Victoria Park, Portabello, and Brooklyn Place.
EK brought an enchanting twist to the classic tradition of gift-giving through The Birthday Giver last July 19 and 20. Everyone was invited to bring heartfelt gifts such as toys, clothes, books, school supplies, and other non-perishable goods to our friends in need through the Magical Drop Box at the Midway Boardwalk.
The festivities will culminate at Eldar’s Mega Birthday Bash on July 26, Saturday at the Spaceport Grounds. This grand celebration promises a fun-filled day bursting with Magic, Education, Games, and Arts that will surely make guests of all ages forever enchanted. The selected beneficiaries of The Birthday Giver are also invited to be part of this special day.
Eldar the Wizard is the heart of EK’s vibrant storyverse, where he has been known to spread enchantment ever since the theme park opened its gates to the public in 1995. He also shares his wisdom to everyone to follow the EK core values of love of God, respect, loyalty, integrity, and innovativeness.
For more information and updates regarding Eldar’s Mega Birthday Bash along with EK’s other events and offers, visit https://www.enchantedkingdom.ph and EK’s official social media accounts @ enchantedkingdom.ph for Facebook and TikTok, and @ek_philippines for Instagram.
A dram of distinction at Newport World Resorts’ The Whisky Library
THE whisky masterclasses at The Whisky Library unfold as curated rituals of refinement. It is an evening of discovery, a meeting of like minds, and a graceful education in the character of aged spirits. Housed within the home to the largest whisky collection in Manila, each session invites both seasoned enthusiasts and curious newcomers to explore the world’s most storied labels through artfully composed pairings.
The next set of classes begins with a rare showcase from Ballantine’s, a label revered for the subtle harmony of its blended Scotch expressions. Last July 16, 2025 guests were welcomed into a vertical tasting of the house’s aged releases, with a four-course pairing priced at P4,700 nett. The ten-yearold opens the experience, gentle and fruit-forward, matched with the richness of baked Camembert cheese. It is followed by the seventeen-year-old, its full-bodied profile heightened
by a foie gras torchon. Deeper character emerges in the twenty-one-year-old, paired with USDA beef cheek and truffle “Macchiato,” before the evening crescendos with the 30-yearold—stately, smooth, and finished with crisp profiteroles. August shifts the focus to the handcrafted charm of The Balvenie, offering a glimpse into the distillery’s devotion to tradition. Priced at P4,200 nett, the August 20 masterclass begins with the 12-year-old Double Wood, its layers of honey and spice complemented by baked Camembert cheese. The 14-year-old Caribbean Cask, mellow and rounded, finds a spirited companion in chicken adobo. To close, the 16-yearold French Oak, distinguished by its floral grace, is paired with white chocolate-dipped strawberries in an elegant finale. As the cooler days of September approach, The Glenlivet takes the spotlight with a tasting that traces the evolution of one of Speyside’s most enduring single malts. On September
17, for P4,000 nett, the Founder’s Reserve sets the tone with creamy ease, served with chicken adobo. The 12-year-old, bright with citrus, is matched with smoked salmon tartare. The 15-year-old offers greater depth, paired with sous vide cooked US sirloin, before the 18-year-old completes the experience with its refined complexity and a serving of sabayon. For ticket reservation, visit https://tickets.newportworldresorts. com/categories/experiences. For more information on Newport World Resorts, visit www.newportworldresorts.com and follow @ newportworldresorts on Facebook, Instagram, and TikTok. Join Newport World Resorts Viber Community at https:// newportwr.com/nwrvibercommunity for exclusive updates. Every visit is made more rewarding with an Epic Rewards membership, download the Epic Rewards Mobile App for free at the Apple App Store and Google Play Store.
In the photo are, from left, Alfredo S. Panlilio and Atty. Jose M. Layug Jr.
Editor: Tet Andolong
BPOs, co-working spaces continue to drive growth in office market
By Rizal Raoul S. Reyes @brownindio
THE business-process outsourcing (BPO) and co-working spaces remain the main drivers of the office segment in the country’s property sector.
In their first half 2025 outlook, Lobien Realty Group chief executive officer Sheila Lobien said the high demand for such spaces ensures business continuity to several companies operating in the Philippines.
“Now, as mentioned, as of last year, the outsourcing industry was able to reach 1.8 million full time employees already, and that was their target for 2028 but it already achieved the goal in 2024. So in terms of the number of people that they’re hiring, the country’s growth is really doing well. Revenue wise, they can probably reach the $40 billion level, you know, $38 billion or $48 billion three years from now,” Lobien pointed out “But if the country continues to grow at that level, say, 100,000 Filipinos more every year, then we can easily reach the baseline scenario of 2.1 million Filipinos in three years’ time, and that can easily translate to about a million square meters of office space,” Lobien added.
Lobien hopes that the growth
TARLAC City, Philippines— TARI Estate, the newest industrial-anchored development by Aboitiz InfraCapital Economic Estates, continues to accelerate its growth with a newly signed 16-hectare deal—closely following the turnover of a 42-hectare parcel to its first locator. The estate is fast emerging as the most active and fastest-selling industrial hub in Central Luzon, where commitments translate into tangible progress. The signed agreement reflects the locator’s strong commitment to establishing operations within the estate and confidence in TARI Estate’s long-term potential. As of June 2025, Phase 1 site development has reached 90 percent completion—enabling locators to move forward with construction and operational readiness.
“The pace at which locators are committing to TARI Estate reflects the trust we’ve built and the credibility of our vision,” said Rafael Fernandez de Mesa, Head of Aboitiz InfraCapital Economic Estates. “TARI Estate is a tangible example of our commitment to turning investment interest into real, catalytic growth.
momentum will continue so developers and landlords can look forward to more growth in the two markets. With only 1.1 million square miles of vacant offices in the market right now, Lobien said developers and landlords have to step in to cope with the rising demand.
“The co-working space market is actually growing, because right now, many companies are decentralizing their office operations instead of putting it in one big area,” she said.
Lobien warned there would be a shortage problem and it will be hard to manage that just like the situation experienced by the sector during the pandemic.
If the trend continues to grow, Lobien said it can wipe out all the vacant offices that we have all over the Philippines.”
She said the outsourcing industry was able to reach 1.8 million full time employees in 2024-originally the target for 2028. She added that there is a growth trend in the economy. Revenue wise,
they can probably reach this $38 billion or $48 billion three years from now.
A buyer’s market LOBIEN said the residential market is currently a buyer’s market.
“It’s a good time to buy, because all developers are giving this a lot of discounts,” said Lobien.
Despite the oversupply of condominium units, she said there is still a brisk movement as a lot of developers are focusing on the signal detached bones, condominiums. Moreover, Lobien said developers are trying to slow down the development or construction and focusing on high end projects
More than just infrastructure, we are building a future-ready platform that creates long-term value for our partners and helps unlock the full potential of Central Luzon.”
The 16-hectare facility is expected to generate thousands of direct jobs and attract complementary industries—further reinforcing TARI Estate’s role as a defining force in the next era of industrial development in Tarlac.
Turning Investor Confidence into Industrial Growth SPANNING 384 hectares, TARI Estate is where pledges become real -
ity. Its rapid sales pace and visible activity on the ground signal more than demand—they reflect delivery. With 60 hectares now sold, representing 74 percent of Phase 1 inventory, the estate is quickly becoming the location of choice for industrial development north of Metro Manila.
or mid range to high end projects right now. “And as you can see, many developers also are focusing on Fort Bonifacio Bay Area, Makati and Ortigas,” she said.
Currently, the sweet spot is still in the one bedroom and two bedroom condominium market because these are the affordable sizes for many Filipinos.
Despite the huge inventory of condominium units, property prices remain resilient. Based on Bangko Sentral ng Pilipinas real estate data, the bulk of Filipinos are taking loans from the banks, and many of them are buying condominiums in the National Capital Region area. Meanwhile, house
and lot units are much in demand in the Cavite, Laguna Batangas and Quezon area (Calabarzon).
“The remittances of the overseas Filipino workers [OFWs] are fueling the demand in the residential sector,” she said.
Gov’t infra project to drive demand in provincial areas
JERICHO LINAO, LRG chief operating officer, said in his presentation that as of the second quarter of 2025, the vacancy rate of the office market in the provincial areas are still pegged at 30 percent while lease rates remain at 7 percent which resulted in locators preferring the National Capital Region. Nevertheless, Linao said the highly anticipated completion of the Luzon Spine Expressway Network will entice locators to move outside the metropolis.
“Average office market rental rates barely increased to P565 per sqm 2Q 2025 against last year’s P550/sqm. The minimal increase can be attributed to the rise of rental rates of solid provincial locations with improving office markets like Cebu [from P570/sq m to P635/sq m], Iloilo [P585/sq m to P610 sq m], and Cavite [from P500/sq m to P600/sq m].
Warehousing to achieve growth in 2025
LRG associate director Stephanie Ng said Philippine warehousing market size is expected to reach $447 million by year end 2025 at a compound annual growth rate of 54.2 percent. The market is expected to reach $680 million by 2033. Growth drivers are manufacturing, logistics, and ecommerce industries.
Ng said Calabarzon remains a top location for industrial real estate, but the supply extends even further to Pangasinan, Cebu, Davao, and Cagayan de Oro.
Finally, Lobien said expected reductions in policy interest rate until the end of 2025 will help in making the right timing for the decision for residential buyers and investors, including office locators.
CENTURY Properties Group, Inc. (CPG) announced that the Social Security System (SSS) acquired a strategic stake in the company through a block sale, marking a significant milestone for CPG. Century Properties, Inc. (CPI), the majority shareholder of CPG, sold 740,740,741 common shares, with a transaction value of P500 million, to SSS. This acquisition represents about 6.39 percent ownership in CPG. SSS acquired the shares at a 4.93 percent discount to CPG’s current market price and is expected to get a dividend yield of approximately 7.8 percent plus potential capital appreciation. China Bank Capital Corporation (Chinabank Capital) acted as the advisor and arranger for this transaction.
“We are honored to have the Social Security System (SSS) as an anchor investor in Century Properties Group. Both CPG and SSS share a long-term perspective and remain optimistic about the growth prospects of CPG. This collaboration reinforces our shared vision for sustainable growth and value creation. We are committed to ensuring this partnership translates into tangible benefits for the SSS fund,” said Amb. Jose E.B. Antonio, Executive Chairman of CPG.
“We are very pleased that SSS found a compelling investment opportunity in CPG. The market is taking notice of the company’s strong fundamentals and growth prospects, and we are confident that management will continue to create value for all CPG shareholders,” said Ryan Martin Tapia, President of Chinabank Capital. As part of its core mission, CPG continues to focus on delivering value to its shareholders through sustained business growth, prudent financial management, and innovation in real estate development. CPG drives sustainable growth by balancing its affordable housing and premium residential segments through its Twin Engine Strategy, aiming to allow at least a 15 to 20 percent growth over a 3 to 5-year period. This dual focus diversifies revenue, enhances resilience, and expands its reach across key growth corridors nationwide. Up to P12B of CAPEX is budgeted for 2025, consisting of up to P10B for its first-home segment PHirst Park Homes and up to P2B for Century’s premium line.
THE PICCADILLY Star, an exclusive property of Lobien Realty Group (LRG).
THE LRG team from left: Jericho Linao, LRG chief operating officer; Sheila Lobien, LRG chief executive officer and Stephanie Ng, LRG associate director
IT’S been 40 years since a French rider last won the Tour de France—when Bernard Hinault claimed the last of his five titles back in 1985.
With race leader Tadej Pogačar poised to retain his title when cycling’s biggest event concludes Sunday on the Champs-Elysées, that drought appears set to continue.
The Slovenian three-time Tour champion holds a comfortable lead in the general classification and top French rider, Kevin Vauquelin, sits in fifth place more than 10 minutes behind.
O ver the past four decades, France has produced talented riders such as Thibaut Pinot, Romain Bardet, Warren Barguil or Julian Alaphilippe.
All raised hopes but ultimately fell short, often facing rivals backed by stronger and better-funded teams. That equation could change following an announcement Monday during the Tour’s second rest day—Decathlon, a global sporting goods company, is joining forces with CMA CGM, one of the world’s largest shipping firms, to invest in a French team with Tour-
winning ambitions.
Decathlon, a sporting goods brand, had previously announced it would take over full ownership of the French team currently known as Decathlon AG2R La Mondiale, from AG2R La Mondiale, at the end of the 2025 season.
With an estimated budget of 40 million euros ($47 million)—compared to the 60 million euros available to Pogačar’s UAE Team Emirates-XRG—the team aims to win the Tour de France within the next five years. We are determined to write a historic new chapter for French and global sport,” said Dominique Serieys, the team’s general director. Serieys has outlined strong ambitions for the coming seasons, targeting success in Grand Tour stages and one-day classics such as ParisRoubaix and Milan-San Remo. The ultimate goal is to win the Tour de France by 2030, with a French rider.
One of the team’s most promising French prospects is 18-year-old Paul Seixas, who finished eighth at this year’s Critérium du Dauphiné—a key preparation race for the Tour. The team
opted not to include him in this year’s Tour squad, believing the move would come too early in his development.
Serieys told BFM Marseille that the 2030 Tour de France project will be built around Seixas.
“But we need time, because his first results are probably expected in 2028,” he said. “We need to give Paul time to understand, learn and perform.”
A sked about the new project on Monday, Pogačar welcomed the news.
“They can be top candidates for winning the Tour in the coming years,” he told a news conference.
Van der Poel has pneumonia MATTHEW VAN DER POEL has withdrawn from the Tour de France ahead of Tuesday›s stage up to the Mont Ventoux as he suffers from pneumonia, his team said.
The versatile Dutchman, who wore the yellow jersey and won a stage during the opening week of the race, experienced “symptoms of a common cold over the past few days,” his Alpecin-Deceuninck team said a few hours before Stage 16. AP
San Miguel Beer targets Philippine Cup in Game 5
SAN MIGUEL Beer tries to wrap it all on Wednesday night and put an end to TNT Tropang 5G’s grand slam aspirations in Game 5 of the Philippine Basketball Association Philippine Cup Finals at the Smart Araneta Coliseum.
We don’t want to anticipate the championship because anything can happen,” said June Mar Fajardo, who earned his 12th Best Player of the Conference trophy in the Philippine Cup.
“But we’re hoping to get the title.” Game time is 7:30 p.m. “E veryone knows how good they [TNT] are, and they’ll try to bounce back for sure,” Fajardo said. “They’ll try to live another day, but we’ll try to close out the series.”
The Beermen, who are eyeing their 30th championpionship in the league, got to 3-1 in the best-of-seven series with their 105-91 victory in Game 5 that was physically played two nights ago at
the SM Mall of Asia Arena.
Fajardo, the most dominating PBA player through the years, was again unstoppable in all fronts and has been averaging 22.7 points, 11.7 rebounds and 1.2 blocks in the series.
Jericho Cruz got into the Tropang 5G’s nerves in Game 4 where he scattered 23 points with CJ Perez contributing 16 points, five assists and three rebounds.
C hris Ross, another major thorn to TNT, isn’t thinking about Wednesday as
THE Ironman 70.3 Philippines
kicks off a new decade of world-class racing in Lapu-Lapu City with an even more explosive and demanding test of endurance, power and speed set to unfold on August 10.
A s in previous years, the grueling 1.9-km swim, 90-km bike and 21-km run race will challenge athletes through a course that blends breathtaking scenery with unforgiving terrain. Celebrated globally, the Ironman 70.3 Philippines earned the distinction of Best Spectator Race in 2018 and has since grown into a marquee event in the international triathlon calendar.
Billed as the Crown Jewel of Asia, the Ironman 70.3 Lapu-Lapu offers a unique course that weaves through the crystal-clear waters off Mactan Island, an iconic and scenic cycling route, and a festive yet demanding run—delivering
Council (WBC) crown in his third title defense. All fights ending in a draw—split draw, majority draw,
the championship night just yet.
“The closeout game is the hardest, but we got a lot of veterans in that locker room,” Ross said. “We’ve prepared Monday and Tuesday and we are going to try to put our best foot forward on Wednesday.”
San Miguel Beer head coach Leo Austria said his wards should again flash their “killer instinct” to wrap up the series. We should have that killer instinct when it comes to the endgame,” he said. Josef Ramos
an unmatched racing experience. For registration and full race details, visit: ironman.com/races/im703-cebuphilippines/register.
I t will be a full weekend of racing and celebration with a host of exciting side events including the 2GO Reyna Bulakna Run (August 8 at Liberty Shrine), a 5km fun run inspired by local heroine Reyna Bulakna and open to all genders ages 5 and up.
By Josef Ramos
LAS VEGAS—Bob Arum, the most veteran among world-renowned promoters—was impressed with how Manny Pacquiao fought a much younger Mario Barrios last Sunday, but stressed the majority draw that favored the Texan champion was a fair decision.
“I was watching he fight with some people here in Los Angeles and I thought it was really an amazing performance for a 46-year-old man,” Arum, 93, told BusinessMirror on Tuesday. “But Father Time does not lie and so in the last three rounds Manny [Pacquiao] was not the same in the first nine rounds.” American judges Max DeLuca gave the 30-year-old Barrios a 115-113 favorable score while Tim Cheatham and Steve Weisfeld saw it 114-114,and 114114 draw for the majority draw in the title fight at the MGM Grand.
“It was unfortunate because in the first nine rounds, I had Manny way ahead six rounds to three and then he did not do enough in the last three rounds with the other guy winning the three last rounds,” Arum said. “So, I thought a draw was fair.”
Arum, however, said that the eightdivision world champion Pacquiao could definitely beat Barrios (29-2-2 win-lossdraw record), who kept his World Boxing Council welterweight belt, in a rematch.
Junanimous draw—make the defending champion’s title intact.
The crowd at the MGM Arena in Las Vegas, Nevada, that included Filipino politicians like Chavit Singson, Jinggoy Estrada and Ben & Ben Hur Abalos, booed when the majority draw was announced.
Many pundits believed Pacquiao won the fight. Pacquiao, too.
“I thought I won the fight,” said Pacquiao, his face practically unmarked after the contest that bordered on boredom. “It was a close fight. It was a wonderful fight.”
It was, indeed, a close fight upon the seeming dictation of Barrios. The Mexican from Texas, USA, never wielded his huge height advantage of six feet over the
said Barrios, his face also unruffled. “He’s still strong as hell.”
The draw gave the fighters three draws each in their career
“I think next time they meet, he will beat this guy probably, but this guy did not press his advantage against Manny in the first part of the fight,” Arum said. “I think other fighters with punching power will do so.”
Arum has promoted 2,200 fight cards since 1966—including 27 for Muhammad Ali, 20 for Marvin Hagler, 14 for George Foreman and countless times for Oscar Dela Hoya, Floyd Mayweather and Pacquiao.
“I thought it was a great performance by Manny but unlike a lot of people who I have been reading, I don’t think the result was wrong and the judges selected for this fight are the best three judges in boxing,” Arum said said.
“Unfortunate and fair,” he said. “If he had a little energy and he pressed in the later rounds, he would have won the fight going away.”
MP Promotions president Sean Gibbons disagreed.
“I really don’t think so,” said Gibbons, who blasted the judges for taking away from Pacquiao the opportunity of making history as the oldest welterweight world champion. “I was sitting out there watching and Manny was up by seven or eight rounds.”
“The draw is very weird,” he said.
“How did those guys see it?”
Despite the majority draw, Pacquiao reportedly earned at least $10 million as a guaranteed purse plus his percentage of the pay-per-view earnings that could up his take home to more than $17 million.
B arrios, according to reports, got a $500 to $1 million purse and no more than $2.5 million from pay-perview revenues.
Gabriel Gaerlan with ES Roxas and MA Alvarez as Morally and Sherbet Fountain’s trainers, respectively. MMTCI chairman and president Atty. Narciso Morales and Miss Universe 2020 Rabiya Mateo awarded the trophies and prizes to the winners of the two-day racing events shattered all industry sales records for previous stakes races.
“I ’m very much thankful to the principal sponsor, Mr. Ramon Ang of San Miguel Corp., for supporting this king of sports which contributes greatly to the coffers of the government by way of income taxes from our company,” Morales said.
“We expect the second and third legs of the series to be more exciting and thrilling with the arrival of more than a hundred imported racehorses all champions from different countries.” he said.
THE group with Tadej Pogacar, wearing the yellow jersey, rides during Stage 15 raced over 169.3 kilometers and won by Belgian Tim Wellens on Monday. AP
And the winners are... University of the Philippines’s (UP) Joshua Buenaventura and De La Salle’s Julia Lua (fourth and fifth from left) display their individual gold medals in Round 1 of the International Container Terminal Services Inc. Intercollegiate Golf Tour at Royal Northwoods in San Rafael, Bulacan recently. Joining them
JUNE MAR FAJARDO and the Beermen are going for their 30th league title. PBA IMAGES
MANNY PACQUIAO, according to promoter Bob Arum, is amazing at 46. AP
SHERBET FOUNTAIN, with Jockey Mark Alvarez on board, wins the King’s Gold Cup crown.
