Latest data from the Bureau of the Treasury (BTr) showed the government’s gross borrowings reached P1.591 trillion in the first six months of the year, up by 1.33 percent from P1.570 trillion in the same period a year ago. This makes up 62.51 percent of the government’s P2.545-trillion borrowing program for the year. Of the total gross borrowings, P1.189 trillion was obtained from domestic creditors while P402.351 billion came from foreign lenders.
The government cut down on its domestic borrowings by 8.74 percent to P1.189 trillion in the first quarter from P1.303 trillion
a year ago. This is because the government has yet to launch retail Treasury bonds (RTBs) this quarter. (See: https://businessmirror.com. ph/2025/07/22/ng-eyeing%e2%82%b1200b-from-rtboffering-this-q3/). Last year, the government raised P584.861 billion from its issuance of 5-year RTBs. During the six-month period, the government secured P132.310 billion from Treasury bills (T-bills), P756.837 billion from fixed-rate Treasury bonds (T-bonds) and P300 billion from fixed-rate Treasury notes.
By Jovee Marie N. Dela Cruz @joveemarie
THE House of Representatives is all set to open the First Regular Session of the 20th Congress and hold the joint session for the fourth State of the Nation Address (Sona) of President Marcos on Monday, with expectations that the President will highlight government gains and
By Rizal Raoul S. Reyes @brownindio
processing management (IT-BPM). “There are two scenarios on the reduction of the vacancy of the office sector. The first sce -
nario is when the IT-BPM sector continues to grow 10 to 15 percent in terms of full time employees per year. The second scenario is more conservative because historical demand showed only 2.4 percent of growth in three years,” said CBRE Philippines country head Jie Espinosa in an interview on the sidelines of the recent CBRE Q2 2025 report briefing in Makati City. “The vacancies were mainly driven by POGO closures. We’re only short of around 5,000 sqm
lay out a forward-looking, inclusive national agenda.
Leyte Rep. Ferdinand Martin Romualdez expressed confidence that President Marcos’s fourth Sona will reinforce the administration’s drive toward inclusive growth and responsive governance.
“As President Ferdinand R. Marcos Jr. prepares to deliver his fourth State of the Nation Ad-
dress, I am proud of the gains he has made under his steady and compassionate leadership,” Romualdez, who served as Speaker of the 19th Congress, said. He pointed to major strides in economic recovery, agriculture, infrastructure, education, and digital innovation as clear evidence of the Marcos administration’s proactive and people-centered approach.
“From bold economic recovery initiatives to decisive investments in agriculture, infrastructure, education, and digital innovation, the President has shown that strong governance can uplift lives and restore confidence in our nation’s future,” he added.
“But the work is far from over,” he added. “The Filipino people still face many challenges—from high
By Ma. Stella F. Arnaldo Special to the BusinessMirror
THE cost of air travel within the Philippines is still considerably less than other Southeast Asian countries, although the fare to select destinations could be improved with better infrastructure.
In a panel discussion on “Gateways to Seamless Travel” at the Philippine Hotel Owners Association’s Philippine Hotel Connect 2025 on Friday, Cebu Pacific President and Chief Commercial Officer Alexander G. Lao said, based on the carrier’s independent study of airfares in Southeast Asia, “The reality is, if we compare Manila-Davao to a similar sector length within Southeast Asia, we’re actually seeing
something like 15-to-20 percent more affordability for the Philippines for their fares.”
But he noted that for island destinations for instance, an upgrade of the latter’s airports could also help bring down ticket prices. “Ultimately, it depends on what infrastructure can deliver,” Lao stressed, citing Coron and Siargao, to which consumers complain of being expensive to fly. “We can only use the smaller turbo-propeller aircraft, [that] can only take in 78 seats. If we can bring in an Airbus A321 [with] 240 seats, in theory, we can spread the cost of two pilots, instead of across 78 seats, to across 240 seats.”
CAB ensures ‘reasonable’ fares FOR his part, Civil Aeronautics
Board (CAB) Executive Director lawyer Carmelo L. Arcilla pointed out that the Philippines remains one of the few countries in the world that still regulates airfares, although dynamic pricing is permitted. “For the domestic sector, the CAB sets the maximum ceiling because it is required [by law], although we have internal pricing system already per Executive Order No. 219…and what we do is improve the ceiling…. We ensure the reasonablenes of the airfare,” based on the fuel, foreign exchange rates, historical trend, among others.
The CAB recently fined AirAsia MOVE, the online booking platform for AirAsia, for P6 million for allegedly posting “excessive and unreasonable” airfares. The agency
also penalized Trip.com and Agoda for similar violations. Arcilla did note that recent “sharp increases” in airfares in the country are due to the “expensive spare parts” purchased by local carriers, owing to the global supply chain issue. Yet Samuel S. David, Philippines country manager of the International Air Transport Association, underscored that among the factors driving up the cost of plane tickets are jet fuel, which accounts for “26 percent of an airline’s cost.” An impending increase in ground charges like takeoff/landing fees, rental rates, as has happened at the Ninoy Aquino International Airport (Naia), which has been privatized, “could bear on ticket prices
also,” he added.
Asean carrier to fly to CRK
MEANWHILE, the operator of Clark International Airport (CRK) has targetted to service 3 million passengers this year, 25 percent more than last year’s 2.4 million. This target is still, however, less than the 4-million passengers which were actually served in 2019, due to the influx of Chinese tourists.
Teri Flores, Head of Corporate Communications of the Luzon International Premier Airport Development Corp. (Lipad) disclosed to the BusinessMirror that a new carrier “from Asean” will start flying to CRK this year, but declined to disclose its identity pending “one final signature. It’s a good destination.”
She added that CRK is also “picking up a lot of interest from the Middle Eastern market. There are big talks going on there now.” She noted, though, that the planning development of new routes are often “long gestating. It doesn’t mean if we talk to them now, they will fly in tomorrow. It can take a few years.”
Nonetheless, Flores noted that CRK’s viability will be improved with a “train” system that can quickly transport passengers from a number of points from Metro Manila. “Everybody is waiting for the train. Once that operates, we will be the first airport in the Philippines which will have an airport express system. It’s a game changer.”
Currently under construction is the government’s North-South Commuter Railway project, which will span 147 kilometers linking New Clark City in Capas, Tarlac to Calamba, Laguna, via 36 stations and four services.
Peza-approved investments double to ₧90.96B in 7 mos
By Andrea E. San Juan @andreasanjuan
INVESTMENTS
approved by the Philippine Economic Zone Authority (Peza) doubled to P90.96 billion in the January to July 2025 period compared to the P45.48 billion greenlighted in the seven-month period a year ago.
In a statement over the weekend, the investment promotion agency said it approved 150 projects worth P90.96 billion in the seven-month period this year.
These ventures are projected to create 35,874 direct Filipino jobs and $2.003 billion in exports.
Of the 150 approved new and expansion projects, 66 are Manufacturing; 41 in the IT and Business Process Management (IT-BPM); 13 are into domestic-market-oriented manufacturing; 9 into ecozone development; 13 are in facilities; 4 in utilities; and 4 in logistics.
As to the location of these investments, Peza said 81 projects would be in Region IV (Calabarzon) ; 20 will
rise in the National Capital Region (NCR); 21 in Region VII (Central Visayas); 17 in Region III (Central Luzon); 3 in Cordillera Administrative Region (CAR); 2 in Region VI (Western Visayas); 2 in Region XI (Davao); 2 in Region I (Ilocos); 1 in Region XII (Soccsksargen) and 1 in Region 10 (Northern Mindanao).
In July 2025 alone, the Peza Board said it approved 17 “high-impact” new and expansion projects.
Among the approved projects in July, Peza said one major venture is set to invest over P13 billion in an advanced manufacturing expansion under the Electronics/Semiconductor Manufacturing Services (EMS-SMS) sector.
“Soon to operate in Batangas, this high-value facility will specialize in the manufacturing of computers, electronics, optical products, semiconductor devices, and other electronic components, all of which will be 100 percent exported to the United States,” Peza said.
Peza said this “strategic” investment underscores the country’s “growing role” as a trusted partner in high-reliability electronics supply chains bound for the US, leveraging competitive costs, skilled talent, and preferential trade advantages to boost local value-added manufacturing and technology-driven growth.
For his part, Peza Director General Tereso O. Panga said the Philippines is ready to “seize” op -
4th Marcos…
Continued from A1
prices and healthcare concerns to the need for more stable jobs, better education, and accessible social services.”
Romualdez said this year’s Sona must set a clear, compassionate, and forward-looking agenda. “This is a chance to build on what we’ve achieved while speaking directly to the real needs of our people.”
He affirmed the House’s commitment to the administration’s legislative priorities: “We stand firmly behind the President’s vision. We are ready to turn his priorities into laws that will ease the burden on Filipino families, strengthen our economy, and ensure that no one is left behind.”
House Secretary General Reginald Velasco has issued a memorandum scaling down the usual red-carpet fanfare, fashion coverage, and ceremonial elements of the annual address in light of the widespread flooding and destruction caused by tropical cyclones Crising, Dante, and Emong, which worsened the effects of the southwest monsoon (Habagat).
Lawmakers and guests are still expected to wear formal attire but are strongly encouraged to avoid extravagant fashion. Barong Tagalog and Filipiniana attire are still recommended in keeping with the dignity of the event.
The National Capital Region Police Office (NCRPO) reported that
portunities as global companies “reposition” amid global trade shifts.
Following the recent US-Philippines trade deal, Peza said it remains “optimistic” as the Philippines continues high-level negotiations to “compensate” the newly adjusted 19-percent USimposed tariff on Philippine exports.
“As the Philippines remains among countries with the lowest US tariff rates in Southeast Asia, government and industry leaders are hopeful as well that the renewal of the US Generalized System of Preferences [GSP] and the start of free trade agreement [FTA] negotiations with the US will drive the country’s future growth,” added Peza.
a total of 22,987 police personnel have been deployed to ensure security for the annual event. Of this number, 16,600 are officers from the NCRPO, while 3,707 come from Police Regional Office 4A and Region 3. An additional 3,202 personnel were provided by other government agencies.
Wage hike
MEANWHILE , labor group Trade Union Congress of the Philippines (TUCP) has urged the President to place a P200 legislated daily minimum wage hike and decent employment at the center of his Sona.
“We are halfway through the Marcos administration, and this is the moment of truth. The state of the Filipino worker must be at the heart of this Sona,” TUCP Party-list Rep. Raymond Democrito C. Mendoza said.
Citing the May 2025 SWS survey, which found that 92 percent of Filipinos believe the Senate should prioritize a wage increase, and 95 percent said the same for the House, TUCP stressed that wage reforms remain a national priority.
Mendoza is the principal author of House Bill No. 88, seeking a P200 daily minimum wage increase. He called on the President to swiftly certify the bill as urgent and include other key labor protection measures—including security of tenure and the right to unionize—in the LegislativeExecutive Development Advisory Council (Ledac) agenda.
Meanwhile, external borrowings climbed by 50.46 percent to P402.351 billion in the first semester from last year’s P267.412 billion. This developed after the government frontloaded its foreign borrowings since market conditions were still favorable in the early months of the year.
The Treasury generated a total of P191.965 billion from the 10-year and 25-year US dollar bonds and euro-denominated bonds. The government also borrowed P39.079 billion in project loans and P171.307 billion in program loans during the first half of the year.
Surge in external debts
DESPITE the government’s strategy of reducing its foreign debts to limit its exposure to risks, the surge in external borrowings reflects a break from this principle, according to Ateneo de Manila University economist Leonardo A. Lanzona.
“The rise in external debts is a violation of this principle and shows that Filipinos do not seem to be willing to lend to Filipinos anymore as economic risks rise,” Lanzona said. Higher foreign debt servicing could also worsen the current account deficit and lead to foreign exchange shortages, making future borrowing more expensive, Lanzona added.
“As the domestic economy worsens, the use of foreign debt can increase further,” Lanzona said. In June alone, higher external debt pushed the total gross borrowings to P263.991 billion. This surged by 78.16 percent from P148.176 billion in the same month last year. Borrowings from foreign lenders more than quintupled to P96.412 billion from P15.700 billion a year ago. The government acquired P86.107 billion in program loans and P10.305 billion in project loans this month. Local debt, meanwhile, jumped by 20.96 percent year-on-year to P167.579 billion from P132.476 billion. Both T-bills and T-bonds raised P39.9 billion and P127.679 billion, respectively, for the government. The best way forward, according to Lanzona, is to raise revenues through wealth taxes, as loans can become “too unwieldy.”
The government borrows to finance its spending requirements and cover its budget deficit, which widened to P765.5 billion in the first half of the year. About P2.037 trillion will be raised domestically, while P507.408 billion will be borrowed from external sources.
Outstanding debt of the government reached P16.918 trillion as of end-May, up by 5.41 percent from P15.347 trillion in the same period last year.
remaining to reach the 1 million mark. By December, we will reach it,” Espinosa added.
To be exact, the total vacated space is 995,600 sqm.
Nonetheless, Espinosa said CBRE hopes the vacancy rate will slow down every quarter with the entry of new players from the IT-BPM sector. “Hopefully, the group in the IT-BPM sector now offsets whatever POGO closures that have occurred quarter by quarter,” he said.
The health and banking and financial services sector are the growth drivers that will drive growth in the office sector, according to Espinosa.
As of the second quarter of 2025, Metro Manila has 1,835, 400 sqm office supply which 54 percent is vacated while 46 percent is new and unleased.
Espino said the Bay Area experienced the biggest drop among all Metro Manila subdistricts, from 33.5 now to 38.5 percent. He said CBRE observed fewer
launchings because developers don’t want to flood the market with supply and ultimately the market cannot catch up. “Developers are waiting for the vacancy to go down before they launch new projects,” he said.
Moreover, Espinosa said developers are looking outside the National Capital Region to develop townships because they are expecting BPO companies to move to the provinces primarily in the next wave such as Ilolio, Bacolod, Dumaguete and Tagbiliran.
Espinosa said coworking spaces experienced growth with KMC Solutions leading the way with total seats with Robinsons-owned workable expanding rapidly with Ayala not far behind its Clock-in brand. He said managed facility deals are not new in the market as return to office has been growing after the pandemic period. Iloilo and Cebu received the biggest number of co-working spaces. Marubeni Real Estate Inc Corp (MREB) acquired 5,800 sqm in the Enterprise One building in Iloilo. Indian technology company Wipro established operations in a 4,300-
sqm Central Bloc 2 building in Cebu. Meanwhile, Avant Solutions leased 4,300-sqm property on 1 Nito Tower in Cebu. CBRE said provincial demand stands at 48,600 sqm with Cebu offering 31,550 sqm followed by Iloilo (14,200 sqm) and Pampanga (3,100 sqm).
Megaworld Development Corp was the top developer in the Visayas region which was able to lease 18,500 sqm followed by Ayala Land leasing 10,700 sqm. King Properties managed to get 4,300 sqm, followed by Filinvest Land (3,600 sqm) and JEG Realty with 3,000 sqm. Meanwhile, third-party outsourcing companies or industry has still led the way for the first half of this year. InterCX secured 14,000 square meters in the H-Tower. Botetix just secured almost 14,000 square meters in GBF. Teleperformance secured 9,000 square meters both in the Bay Area and in the McKinney Area. Wipro secured 6,000 square meters in Cebu, while HGS secured spaces both in Quezon City and in Iloilo, in Iloilo City. “And then just to note here, the new entrants in the market, mostly are from the banking and finance sector industry and the healthcare sector.
House set to ask SC to reverse ruling on impeachment case
By Jovee Marie N. dela Cruz @joveemarie
THE House of Representa -
tives will seek a reversal of the Supreme Court’s decision that nullified the impeachment complaint against Vice President Sara Duterte, asserting that the ruling rests on misleading and factually incorrect premises.
In a statement, House Spokesperson Princess Abante emphasized that while the chamber respects the SC, it is “deeply troubled” by the decision that invalidated the impeachment complaint filed on February 5, 2025.
“First and foremost, the House maintains its respect for our Supreme Court. However, we are deeply concerned upon receiving and reviewing the Court’s ruling, which voided the impeachment complaint against Vice President Sara Duterte,” Abante said.
“After careful study, the House will file a Motion for Reconsideration. The ruling—which claims that the Articles of Impeachment transmitted to the Senate were unconstitutional—is based on incorrect and contradictory factual findings,” she added, warning that the Court may have unintentionally rewritten the rules on impeachment. Abante underscored that the Court’s claim—that the Articles of Impeachment were sent to the Senate without plenary approval—is “categorically false.”
Former Chief Justice to
present SC: That’s not the way to do it
By Joel R. San Juan @jrsanjuan1573
ORMER Chief Justice Artemio
the House Journal and official reports submitted to the Court,” Abante said.
“What’s more troubling is that the decision failed to even mention, much less address, these official documents,” she added.
This plenary action, Abante added, is clearly reflected in House Journal 36 and in the official Record of the House of Representatives.
The Court also noted that the House failed to act on three earlier complaints filed in December 2024. Abante refuted this, saying the chamber had, in fact, archived those complaints just hours before the session adjourned.
“On the same day the February complaint was acted upon, the House also voted in plenary to archive the three December complaints. This was done a few hours before adjournment, after confirming that the February complaint had been properly verified and signed by one-third of the members,” she said.
“Under the Constitution, that alone constitutes the Articles of Impeachment and mandates their transmission to the Senate,” she added.
Abante criticized the Supreme Court’s conclusion that the February complaint violated the oneyear bar rule, calling it a “factual and procedural inversion.”
“The ruling’s central premise—the foundation on which all legal conclusions were made—is erroneous. It disregarded the plenary vote, misread the timeline of House actions, and relied more on a news article than on
“On February 5, 2025, Majority Leader Mannix Dalipe moved to transmit the complaint to the Senate, based on the fact that it was verified and signed by at least one-third of all House members. This motion was approved in plenary, and the House subsequently formed a panel of public prosecutors. The transmittal was not unilateral nor ministerial—it was a result of plenary action,” she explained.
Half of ₧2-T flood control allocations ‘lost to corruption’
By Butch Fernandez @butchfBM
HALF of the almost P2 trillion allocations for flood control projects of the Department of Public Works and Highways (DPWH) may have been lost to corruption, Sen. Panfilo M. Lacson said on Sunday. Lacson at the same time reiterated his call for a review of the government’s mechanisms for preparation, planning and implementation in addressing the flooding problem.
Lacson lamented that the “climate change has been tagged as a factor in the flooding problem and has become a convenient excuse for some.
“We need to see where we can improve in terms of preparation, planning and implementation We also cannot discount that of the P2 trillion in allocations, P1 trillion may have ended up in some people’s
She warned that the ruling not only complicates impeachment proceedings but also infringes on the House’s exclusive constitutional powers.
She also challenged the Court’s interpretation of due process, saying it imposed new requirements not found in either the Constitution or the House rules.
“The Court now claims that even if a complaint is signed and verified by one-third of the members, it must still be individually read by each signatory and voted on again in plenary. It also claims the respondent must be given the chance to respond before the complaint reaches the Senate. But no such requirement exists in the Constitution or in our House rules,” she said.
“In effect, the Court created new standards that were never part of our existing laws. They nullified the Articles of Impeachment based on these new due process rules,” she added.
Abante invoked the doctrine of operative facts, pointing out that the House acted in good faith based on the Supreme Court’s own previous rulings in Francisco and Gutierrez.
Abante also noted that Vice President Duterte was invited multiple times to committee hearings to present her side but declined to appear.
“If due process and the right to be heard are truly at issue, let it be noted that VP Sara Duterte was repeatedly invited to speak at the hearings but chose to remain silent,” she said.
FAbante confirmed that the House will file a Motion for Reconsideration in the hope that “once the facts are corrected, the Court will arrive at a different and more just conclusion.”
Meanwhile, the Makabayan bloc has denounced the Supreme Court’s decision to halt the impeachment trial of Vice President Sara Duterte, calling it a legal maneuver that enables impunity rather than upholding justice.
“We express deep disappointment and outrage over this ruling. Once again, holding the powerful to account proves to be an uphill battle in our country,” the bloc said.
The group accused Malacañang and the Senate of having actively blocked the impeachment process since February, now culminating in a decision that strips the Senate of jurisdiction and buries the trial.
The group noted that the Court’s ruling was based on a questionable interpretation of the one-year ban on multiple impeachment complaints and alleged due process violations—despite clear constitutional provisions.
“Section 3 [4], Article XI of the Constitution clearly states: ‘An impeachment complaint filed by one-third of the members of the House shall constitute the Articles of Impeachment, and trial by the Senate shall forthwith proceed.’ That mandate is not optional. It is mandatory,” the bloc said.
Romualdez shoo-in as Speaker
WITH the election for Speaker expected on Monday at the opening of the 20th Congress, support for the reelection of Leyte Rep. Ferdinand Martin G. Romualdez has grown even stronger—reaching 293 members of the House of Representatives.
The latest lawmakers to join the growing bloc are Malasakit@Bayanihan Rep. Girlie Veloso and Taguig Rep. Jorge Bocobo, building on the earlier group of 291 representatives who signed a manifesto of support for Romualdez’s continued leadership.
House leaders emphasized that the rising number of supporters shows widespread confidence in Romualdez’s ability to steer the chamber in the critical second half of the Marcos administration.
The Office of Former President and now Pampanga Rep. Gloria Macapagal Arroyo clarified that she is not running for Speaker and has, in fact, signed the Lakas-CMD manifesto backing Romualdez.
“Representative Romualdez’s
track record speaks for itself. He has led the House in passing laws that truly matter to the Filipino people, and he has done so by building consensus and keeping the institution stable,” said Quezon Rep. Mark Enverga of the Nationalist People’s Coalition (NPC).
“Backed by 293 of his peers, Representative Romualdez has shown that he is not only capable of uniting coalitions but also of steering the chamber toward productivity and lasting impact,” Parañaque City Rep. Brian Yamsuan of the National Unity Party (NUP) said.
Lawmakers say that the speakership should be about vision, competence, and results—not personalities—all qualities they say Romualdez consistently demonstrated in the 19th Congress.
“This is about continuity, competence, and a clear path forward. That’s what the House needs. That’s why we support Representative Romualdez,” Quezon Rep. David Suarez of the Lakas-Christian Muslim Democrats (CMD) said.
The movement behind Romualdez’s bid, they said, is not only growing in numbers but also in resolve.
“This is about lawmakers coming together to keep the institution strong and service-oriented. And we believe that Rep. Romualdez is best equipped to lead us in that direction,” Iloilo Rep. Janette Garin of the Lakas-CMD said.
Lawmakers also credited Romualdez for helping shepherd 61 out of the 64 Legislative-Executive Development Advisory Council (Ledac) priority bills into passage.
“Legislation under Rep. Romualdez’s watch has been focused, strategic, and always pro-people. That kind of leadership is not easy to come by, and it is even harder to sustain. Yet he has done both,” Ako Bicol Partylist Rep. Alfredo Garbin of the Partylist Coalition Foundation Inc. (PCFI) stressed.
Lawmakers also noted the role of Romualdez in preserving the working relationship between the House
See “Romualdez,” A6
Lamentillo graduates from London School of Economics
ON July 24, Anna Mae Yu Lamentillo graduated with a Master of Science in Cities from the London School of Economics and Political Science (LSE Cities) during a ceremony held at the Peacock Theatre. Her research, “Assessing the Viability of the 15-Minute City Model in Metro Manila,” examines how the widely discussed urban planning model can be adapted to address the complex and fragmented urban landscape of the Philippine capital.
A Karay-a scholar and policy advocate, Lamentillo’s research delves into the unique challenges and opportunities across Metro Manila’s diverse urban typologies—from informal settlements and dense inner-city districts to sprawling outer suburbs. Her findings propose
a phased and context-sensitive approach to urban development, advocating for immediate, medium-term, and long-term interventions that prioritize accessibility, climate resilience, and inclusivity.
“As cities continue to evolve, we must listen to the people who live in them. Urban planning cannot be limited to technocratic ideals—it must include the lived realities of elders, persons with disabilities, single mothers, and children. Inclusion is not optional; it’s essential,” said Lamentillo.
“We must critically assess what’s working and what isn’t. Escalating commitment to outdated or ineffective solutions is the worst
See “Lamentillo,” A6
Panganiban has urged all parties to respect the decision of the Supreme Court declaring as null and void for being unconstitutional the fourth impeachment complaint filed by the House of Representatives against Vice President Sara Duterte.
In a statement, Panganiban also stressed that the decision is not yet final as the respondents House and the Senate are still allowed to file a motion for reconsideration of the Court’s unanimous decision issued on Friday.
“First, regardless of whether we are for or against the decision, let us respect it. We must observe the rule of law,” Panganiban said.
However, the retired Chief Justice expressed belief that an issuance of a status quo ante order (SQAO) should have been considered by the 15-man High Tribunal instead coming out with a “rushed decision.”
He said a SQAO would have barred the parties from conducting further proceedings on the fourth impeachment complaint pending the Court’s deliberation and resolution on the merits of the petitions assailing its constitutionality.
“In this way, both the justices and the public would have had a better grasp of the facts and the law involved. After all, this case has transcendental importance to the nation and to our people,” Panganiban said.
Panganiban also suggested that an oral argument should have been conducted before any decision was issued on the issue.
“If the Court had patiently heard oral argument on less important problems like the recognition of foreign divorces and the PhilHealth petitions, why not on this monumental case?,” Panganiban asked.
“In the least, if only to accord respect to a coequal branch of the government, the HOR, I would have called for Oral Argument before making up my mind and casting my vote,” he added.
However, former Associate Justice Adolfo Azcuna said that while the SC decision may be legally correct, he believes that it is unfair for the respondents and movants of the impeachment.
He explained that in declaring that the fourth Articles of Impeachment adopted by the House as violative of the one-year-bar rule under the Constitution, the Court came out with a new definition of what constitutes being “initiated.”
Azcuna noted that in the Davide
TBy Bless Aubrey Ogerio
HE National Book Development Board (NBDB) has updated its 2025-2030 reading agenda, aiming to close the widening reading gap through communityled programs and wider access to Philippine books.
The new agenda was unveiled during the agency’s midyear State of the Reading Nation Address (Sorna), where the NBDB cited “critical gaps” in foundational reading skills and access to books, based on recent studies.
NBDB Executive Director Charisse Aquino-Tugade said the reading agenda aims to strengthen nationwide efforts to improve literacy by scaling local models, fostering partnerships and deepening public engagement with locally published books.
“The reading gap that we have now—as we have learned from recent surveys— deserves our immediate attention and action,” Tugade said during the event. “This is exactly why we formed Nara: to mobilize both the public and private sectors in reversing this reading gap.”
The National Alliance of Reading Advocates (Nara), formed in 2023, now has 152 member organizations, including schools, nongovernment organizations, local governments and national government
case, the SC defined initiating an Impeachment complaint as putting it in the order of business and referring it to a proper committee.
The retired justice said this was not followed with regard to the three impeachment complaints earlier filed before the House. The Court’s recent ruling, according to Azcuna, would now cover a situation where the complaints were not referred to a committee and, after the lapse of the time to do so, archived, and thus, the Supreme Court said, “effectively dismissed.”
“I respectfully submit that it would be unfair to apply this new definition to the complaint involved in the present case, as it was precisely adopted in reliance on the Supreme Court’s then prevailing definition,” the former justice explained.
Instead, Azcuna suggested for the SC to apply the Doctrine of Operative Facts in order for the impeachment trial to continue. Under the “doctrine of operative fact,” acts done in good faith prior to the determination of their unconstitutionality produce consequences that cannot always be erased, ignored, or disregarded.
“I respectfully appeal that the High Court, by way of a Supplemental Resolution, apply to this case the Doctrine of Operative Facts, which it has applied before in similar cases, stating that where actions were taken and things done in reliance on its former and then prevailing definition [or in the absence of one], the action and things done will be treated as valid, and the new definition will be applied prospectively, i.e., to future cases,” Azcuna said in his Facebook post.
“In this way, I respectfully submit, the people’s unwavering demand for accountability now will be served, and the trial in the Senate can still, and finally, proceed forthwith,” he added. In its 97-page decision issued on Friday and written by Associate Justice Marvic Leonen, the Court declared as unconstitutional the fourth impeachment complaint against Duterte for violating her right to due process and Article XI, Section 3 (5) of the Constitution which prohibits the filing an impeachment complaint against the same official more than once within a period of one year. The Court explained that the three impeachment complaints were archived, thus, deemed dismissed on February 5, 2025 when the House filed the fourth impeachment complaint. Thus, the SC held that no new impeachment complaint should be initiated earlier than February 6, 2026.
agencies. It is a key arm of the NBDB’s Readership Development Division. Some Nara member organizations also shared updates on their reading initiatives. For instance, the AHA! Learning Center, which runs a reading campaign in Smokey Mountain, Manila, said it expanded its collection of Filipino storybooks and created a reading space for mothers stocked with local fiction and magazines.
Meanwhile, the Corazon Sanchez Atayde Memorial Foundation (Csamf) said its literacy outreach reached 910 learners from areas such as Pasig City, Tawi-Tawi, Rizal, Pampanga, and Mountain Province. Csanf program director Reylene Ngeta-a said that through Nara, their organization was able to exchange strategies and resources with similar literacy-focused groups, allowing deeper engagement with Philippine books. The NBDB said it will continue to support efforts to expand access to reading materials and strengthen local capacity to build a “reading culture,” especially in communities with limited resources.
According to the Philippine Statistics Authority, more than 18 million Filipinos who have completed high school are considered “functionally illiterate”—they can read, write and compute, but have difficulty with comprehension.
A6
Monday, July 28, 2025
Economy
House to prioritize food price-related bills
By Jovee Marie N. dela Cruz @joveemarie
AS the 20th Congress convenes on Monday, the House of Representatives vowed to prioritize measures to bring down food prices.
Iloilo Rep. Janette Garin, who served as deputy majority leader in the 19th Congress, said the House intends to revive the Murang Pagkain Super Committee, also known as the Quinta Committee, in the 20th Congress.
“In governance, our three main priorities are food, health, and jobs,” she said.
Garin also expressed confidence that Romualdez, the Speaker of the 19thCongress, would reclaim the speakership when Congress opens on Monday.
“We strongly believe Congressman Martin Romualdez will be elected Speaker of the 20th Congress. That’s why we’re pushing again for the Quinta Comm, which was created to identify and fix the causes of food price increases,” she said.
Garin revealed that the super committee previously uncovered how the landed cost of imported rice stood at P33 to P35 per kilo, but prices soared to P60 owing to profiteering by unscrupulous middlemen.
“Even with logistics and markups, rice should only cost around P43 to P45. But it’s being sold at P60 because of profiteering,” she stressed. The revamped Quinta Committee will also focus on other essential commodities such as eggs and drinking water.
She suggested that people should also plant vegetables in
their backyard, which she said is now one of the requirements for one to qualify for the Ayuda Para sa Kapos ang Kita (Akap) program.
Other priorities
AMONG the key legislative priorities filed in the 20th Congress is a comprehensive reform of the rice sector aimed at curbing inflation while empowering both farmers and consumers.
Under that bill, the NFA will be authorized to license and inspect rice warehouses, monitor rice trade activities, confiscate hoarded rice and release emergency stocks during artificial shortages, and enforce a minimum buying price for palay to safeguard farmers’ livelihoods.
The bill also introduces amendments to the Rice Tariffication Law, adding tougher penalties for hoarding and profiteering—including fines of up to P2 million, imprisonment of up to two years, and lifetime disqualification from public office.
The measure is backed by the Office of the President, the Department of Agriculture, and the National Food Authority, signaling strong executive support. While retaining the liberalized rice import regime, it also reinforces the government’s ability to intervene when public interest is compromised.
Even before the 20th Congress formally opened, Romualdez filed House Bill 11, or the Budget Modernization Act, which proposes a shift to a cash-based budgeting system to accelerate project delivery and improve transparency.
The bill addresses longstanding issues such as delayed
implementation of projects, “parked” funds and unspent allocations, and lack of real-time financial transparency.
The measure mandates the completion and payment of all projects within the fiscal year, allowing for a three-month extension for final disbursements. It also mandates the use of a digital financial management system to monitor government transactions and introduces performancebased budgeting, where agencies are evaluated based on results, not just expenditures.
HB 2, also a priority measure, seeks to exempt millions of overseas Filipino workers (OFWs) from mandatory PhilHealth premium contributions. The bill also proposes that the government and employers split premium payments and that contribution rates be lowered across the board.
A key provision prohibits the transfer of PhilHealth funds to the national treasury—an issue at the heart of a Supreme Court case questioning the legality of a P60 billion fund transfer initiated by the Department of Finance.
The bill mandates that any unspent premium subsidies be used only for enhanced benefits or future premium reductions for contributors.
To bolster the country’s pandemic readiness, HB 3 proposes the establishment of the Philippine Centers for Disease Prevention and Control (CDC). The new agency will serve as the lead institution for controlling infectious diseases, coordinating emergency responses, and institutionalizing science-based public health strategies.
Romualdez emphasized that the measure fulfills a constitutional duty: “to protect and promote the right to health of every Filipino.”
HB 4 aims to repeal the outdated Expanded Government Assistance to Students and Teachers in Private Education (E-Gastpe) law and replace it with the Private Basic Education Vouchers Assistance Act.
Key features include a tiered voucher system based on family income, new subsidies for private school teachers, and the creation of a Bureau of Private Education under the Department of Education.
The bill seeks to address the massive 48 percnt drop in private school enrollment during the pandemic and to relieve public-school overcrowding. Vouchers will be prioritized for the poorest households and those in areas where public education is inaccessible or overcapacity.
Romualdez underscored that the early filing of these priority measures signals his commitment to public service—regardless of pending leadership discussions.
“We don’t need to wait for the SONA or the Speakership vote. If there’s something we can already do for the people, we’ll get started. The work continues for a Bagong Pilipinas,” he said.
“These bills reflect the administration’s broader goals under President Marcos’s Bagong Pilipinas campaign—to promote inclusive growth, uphold accountability, and deliver concrete, measurable improvements in the lives of ordinary Filipinos,” Romualdez added.
Housing agencies freeze dues for 600K families
By Bless Aubrey Ogerio
MORE than 600,000 families across the country will be granted temporary relief from housing loan payments, following a one-month moratorium rolled out by government housing agencies under the Department of Human Settlements and Urban Development (DHSUD).
The National Housing Authority (NHA) said around 500,000
households will automatically benefit from the payment pause this August. (See: https://businessmirror.com.ph/2025/07/25/ shfc-nha-detail-housing-reliefscope-after-typhoons/)
Separately, the Social Housing Finance Corporation (SHFC) said it is extending the same relief to more than 148,000 families. Moreover, the National Home Mortgage Finance Corporation (NHMFC) also reported that
34,622 of its borrowers will receive the moratorium.
Unlike loan deferment programs that require paperwork, the payment breaks from NHA, SHFC and NHMFC will be automatically applied.
Borrowers do not need to file requests, and missed payments will be tacked on to the end of loan terms instead of being collected later this year.
On one hand, the Home Devel -
First Gen CSR program wins award
LOPEZ-LED First Gen Corporation has received an award from the League of Corporate Foundations (LCF) for implementing a livelihood program, helping improve the lives of a tribal community in Mindanao.
The LCF presented a Medal of Recognition for Enterprise Development to First Gen earlier this month for the company’s support in organizing and implementing a grassroots social enterprise for the benefit of the Mamanwas living in the remote village of Maraiging in the town of Jabonga, Agusan del Norte.
The LCF, a non-profit organization, held the conference and awarding ceremony under the theme, “Diversity, Equity, and Inclusivity for Shared Prosperity.”
By Lenie Lectura @llectura
THE NATIONAL Grid Corporation of the Philippines (NGCP) reported on Sunday that all power transmission services in Luzon have returned to normal operations.
The grid operator said it successfully and swiftly restored lines affected by Tropical Cyclone Emong.
“Normalization of the Luzon grid came after the last affected line, the Bacnotan–Bulala 69kV [kilovolt] line was restored at 10:47 AM July 26,” it said.
The Bauang–San Fernando 115kV is partially energized by NGCP, with the remaining customer-owned and maintained portion still being repaired by the La Union Electric Company Inc.
“NGCP assures the public that it is continuously monitoring weather disturbances and is ready to activate its OCMC [overall command monitoring center] should there be any threat to its transmission facilities,” it said.
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The Mamanwa indigenous people or tribesmen live mostly in the remote mountainous areas of Mindanao. Most of the Mamanwas in Maraiging subsist below the poverty line owing to limited economic opportunities.
As part of its corporate social responsibility (CSR) projects and to help the Mamanwas in Jabonga, First Gen collaborated in 2021 with other groups, such as the SEARCH Foundation, the National Commission on Indigenous Peoples (NCIP) and the Department of Trade and Industry (DTI), to form an association, the Maraiging Mamanwa Farmers Skilled Workers Association (Mamafaswas). First Gen, the country’s leading provider of clean and renewable energy, is building a run-ofriver hydroelectric power plant in
Jabonga as part of its program to expand its capacity to 13 gigawatts (GW) by 2030.
The First Gen projects aim to boost the country’s renewable energy supply and help assure energy security. For Jabonga, First Gen expects its project there to stimulate local economic development by creating direct and indirect employment opportunities and developing more infrastructure for the benefit of local residents, including the Mamanwas.
“With the hydroelectric project in Jabonga, we’re not just investing in renewable energy infrastructure; we’re investing in communities,” said Dennis P. Gonzales, First Gen senior vice president and head of portfolio development.
“Hand in hand with the hydro project’s development, we uplift the
opment Mutual (Pag-Ibig) Fund, is also offering a one-month grace period, but on a voluntary basis.
Members who wish to avail must file their application inbranch.
Beyond payment relief, DHSUD said it is mobilizing post-disaster shelter support through its Integrated Disaster Shelter Assistance Program (IDSAP), in coordination with local government units.
lives of underprivileged yet important stakeholders, like the Mamanwas, by training them, by improving their skills and exposing them to a wide network of buyers for their woven products. In our own small way, our support for Mamafaswas exemplifies how our clean energy projects fuel inclusive and regenerative growth,” Gonzales added.
With support from First Gen and its partner institutions, Mamafaswas has launched several livelihood projects. One of them saw the revival among roughly two dozen Mamanwas of their traditional weaving skills using buri leaves and abaca fibers to craft artisan products.
“These Mamafaswas weavers now sustainably produce a growing line of handcrafted products — from bags to boxes—that reflect a unique fusion of cultural tradition and modern design,” Gonzales also said. “Their creations have been showcased in both local and national trade events, including Lopez Group expos and the World Bazaar Festival in Manila. The association has since become a source of sustainable livelihood for its members.”
Improved product development, active participation in trade fairs, and support from over 15 institutional buyers helped Mamafaswas grow its earnings to P276,055, an increase of over 800 percent from 2022 to 2024.
Meanwhile, the Manila Electric Company (Meralco) said its foundation arm, One Meralco Foundation (OMF), has mobilized employee volunteers to distribute relief packs which has so far benefitted over 2,600 families in the cities of Caloocan, Las Piñas, Makati, Marikina, Muntinlupa, Pasig, Quezon, Taguig and the town of Pateros in Metro Manila; in addition to Bustos, Calumpit, Hagonoy, Obando, and San Jose del Monte in Bulacan; Cainta, Montalban, and San Mateo in Rizal; Calamba, Calauan, San Pablo, Sta. Cruz, and Sta. Rosa in Laguna; and Amadeo, Dasmariñas, and Ternate in Cavite.
“We extend our sincere thanks to our customers for their patience and understanding, as well as to our partners including the Department of Energy and the local government units [LGUs] for the close coordination that helped us ensure that service is safely restored the soonest possible time,” Meralco First Vice President and Head of Networks Froi J. Savet
San Carlos welcomes Spanish investment
DETERMINED to boost its potential in renewable energy, immersion tourism and agro-industry as well as to promote both its economic zone and the Philippine Economic Zone Authority, San Carlos City (Negros Occidental) movers Mayor Rene Gustilo and San Carlos Development Board chairman E.D. Miggy Valmayor partnered with La Cámara and Fundación Santiago for a two-day mission in Manila to lure Spanish corporations to invest in San Carlos. On July 24, they were hosted by La Cámara for socials during the festivities commemorating Philippine-Spanish friendship. The day after the San Carlos delegation attended the Fundación Santiago Business Forum to present their city as a model of Ease of Doing Business in the Philippines and as arguably the Renewable Energy capital of the Visayas. Present at the said forum were, among
Flood.
Continued from A4
pockets,” he said in Filipino in an interview on radio.
“It’s absurd. With bigger funding, shouldn’t flood levels be going down? Why is the rise in funding directly proportional to the rise in floodwater levels? Something is very wrong—if not with management, then with planning and policy,” he added.
and Malacañang, without sacrificing the independence of the institution.
With urgent legislative work ahead—including the 2026 national budget, agricultural and educational reforms, and critical economic measures—House leaders said Romualdez’s steady hand is needed.
“His guiding principle has always been clear: support what is good for the country, protect the institution, and always prioritize the people’s welfare,” Romblon Rep. Eleandro
Lamentillo. . .
Continued from A4
thing we can do to our cities. Take flooding, for example—have we truly considered solutions like sponge cities or permeable pavements? These aren’t just concepts; they are urgent alternatives.”
Lamentillo’s academic and professional background reflects her commitment to interdisciplinary thinking and systems-level change. She is the founder of NightOwl AI, a pioneering initiative that leverages machine learning to preserve endangered and morphologically complex languages. She earned her Juris Doctor from the University of the Philippines College of Law in 2020, completed executive studies
others, Spanish giants INDRA, ACCIONA, Repsol, FonsIberia and MCSpencer. Filipino social enterprise Hybrid Social Solutions expressed its interest in bringing in its socially-inclusive approach to Renewable Energies to the city, while the, Asian Institute of Management-based Andrew Tan Center for Tourism, Mondial Tours and AsiaVentures all recognized the potential of San Carlos as a community-experience tourist destination.
Given its existing sports facilities, San Carlos naturally drew the attention of the likes of G8 Football Academy and the Manila Central University as the site of their future football, tennis, and badminton campuses. Heeding the Vamos San Carlos call, La Cámara’s president, Diego Castillejo, and Executive Director, Ascension Lillo-Marin, were favorably impressed and as early as now are brewing the idea of a site visit to San Carlos.
Lacson noted that while nearly P2 trillion had been allocated to the budget of the DPWH alone for the last 15 years, the flooding problem still persists. He said he expects President Marcos to take up the flooding problem, along with peace and order, in his State of the Nation Address (Sona) on Monday. “I believe it will be included,” Lacson said in the interview, when asked if the President will tackle the flooding problem in his address.
Jesus Madrona of the Nacionalista Party (NP) noted.
“We do not need an OJT and cannot afford disruption, especially at this stage of the president’s term. We need leadership that knows the job, understands the pressure, and won’t lose sight of the public good,” La Union Rep. Paolo Ortega V of Lakas-CMD said.
Mandaluyong City Rep. Alexandria Gonzales of NUP said, “It is with deep conviction that I express my wholehearted support for the speakership of the Honorable Martin Romualdez for the 20th Congress of the House of Representatives.”
at Harvard Kennedy School in 2018, and graduated cum laude from the University of the Philippines Los Baños in 2012 with a Faculty Medal in Development Communications. She is currently pursuing a Master of Science in Major Programme Management at the University of Oxford. LSE Cities is a world-leading center at the London School of Economics that conducts research, education, and policy engagement on the challenges of contemporary urbanisation, shaping more equitable and sustainable cities worldwide.
Lamentillo’s graduation from LSE marks not only the culmination of another academic milestone, but also a renewed commitment to reshaping the future of cities—starting with Metro Manila.
Brewed Freshly res ew
TPHL bags 1st Global Win for Muslim Friendly Accommodation
By Francine Medina
he country celebrates its first Muslim-friendly hotel chain and even more celebratory news is that it is the initiative of a homegrown brand. In June this year, Megaworld Hotels and Resorts (MHR) received the distinction at the Halal Travel Awards 2025 in Singapore.
The recognition comes at an apt time as the Philippines was likewise named as an Emerging Muslim-Friendly destination of the Year for Non-Organization of Islamic Cooperation in the Mastercard-Crescent Rating Global Muslim Travel Index last year.
Prior the receipt of the award, all 13 properties of Megaworld Hotels & Resorts – Belmont Hotel Manila, Belmont Hotel Boracay, Belmont Hotel Mactan, Savoy Hotel Manila, Savoy Hotel Boracay, Savoy Hotel Mactan, Eastwood Richmonde Hotel, Richmonde Hotel Ortigas, Richmonde Hotel Iloilo, Hotel Lucky Chinatown, Twin Lakes Hotel, Kingsford Hotel Manila, and Grand Westside Hotel–were recognized as MuslimFriendly Accommodation Establishments by the Department of Tourism.
To talk about how MHR was able to bag this distinction, “Freshly Brewed” special guest, MHR Managing Director Cleofe Albiso, engaged in an insightful conversation with BusinessMirror’s Wine and Dine, and Health and Fitness editor, Anne Ruth Dela Cruz.
Industry awards
Since Albiso assumed her role in November 2019, MHR has reaped various industry awards including winning at the Philippines’ Leading Hotel Group at the World Travel Awards (WTA) in 2024 and is one of the nominees in 2025.
Being named as the first Muslim-friendly hotel chain positions the property as a premiere hotel chain that puts to heart diversity and inclusivity as it offers services and amenities aligned with Islamic principles.
“I feel so blessed to be at the helm of Megaworld Hotels & Resorts. It’s a collaborative effort and no single person can take credit for everything that it has achieved. I think we started with the right culture,” Albiso explained,
“First and foremost, we bank on our Circle of Happiness where we put importance on love for ourselves, love for family, love for work, love for community, with love for God as the center of everything. That has been our core, including putting together the Sampaguita project.”
Albiso was referring to the group’s initiative of using the national flower, Sampaguita, as its symbol for dedicated Filipino service. The image of the small and fragrant flower comes in the form of pins worn by employees as a reminder of MHR’s binding advocacy.
“The Sampaguita is our symbol for the Filipino signature brand of excellence where we hinge the values of the company to our beliefs that include honor, love, dignity, and healing.”
Top destination
According to Albiso, the Department of Tourism (DOT) had been aiming to make the Philippines among the top destinations for Muslim travelers across the globe. And this year, as reported by DOT, the country’s ranking at the Global Muslim Travel Index climbed from 12th in 2024 to 8th in 2025.
To assert its commitment and cooperation with the Tourism office’s efforts, MHR engaged in a landmark Memorandum of Understanding with the DOT in May 2024, which led to the recognition of MHR as the first 100 percent Muslim-Friendly Accommodation Establishments (MFAE) in the Philippines.
The process after the hotel group got their certification required patience and determination among its movers. Savoy Hotel Boracay Newcoast’s Vienne Cafè got its halal certification in September marking our first halal kitchen after the signing. Currently, six MHR hotels have certified halal kitchens, but
the group’s goal is to have a dedicated halal kitchen in every property.
Working closely with DOT, the country’s largest hotel group operator was introduced to the Halal International Chamber of Commerce and Industry of the Philippines (HICCIP). “That allowed us to go through the certification requirements and we worked closely with communities within the locations that we are located.”
Halal-friendly kitchens
As part of being a Muslim-friendly hotel group, MHR ensured that it has halal-friendly kitchens serving Muslim dishes, provided a prayer room, Qibla direction markers in guest rooms, and
have the Quran available for guests. MHR also engaged with the local communities for a list of mosque locations.
Albiso mentioned that MHR worked closely with DOT Undersecretary Myra Paz Valderrosa-Abubakar to learn more about Muslim-focused tourism. “She and her team have been supportive in our journey. We haven’t really achieved the full state of being a Muslim-friendly hotel group, we are still in a progressive stage and receiving a distinction as from the Halal Travel Awards is a bonus for us. We’ve already received a certification from HICCIP but the Crescent Rating is something that we’re all proud of because of the global
rating for halal tourism.” She added that the award is also an assurance to Muslim guests that the hotel group is ready to welcome them in Philippine destinations where there is an MHR hotel.
“Getting the Crescent Rating stamp is something that the Muslim market can look up to and respect. It’s an honor for us to be the first hotel group to receive this award.”
further achieve this vision, the DOT issued Memorandum Circular 2024-003 or the Amended Guidelines Governing the Operations and Recognition of Muslim-Friendly Accommodation Establishments.
“This journey hasn’t been easy, but it really started with a buy-in from the group—when we said that we really wanted to be inclusive. It’s a market that we actually wanted to target, a market that’s out there,” Albiso stated.
“To be able to get that market, it’s not enough that you have a plan,” admitted Albiso. “You have to put together many things. For one, you have to be deliberate about it and have to put the proper learnings. We trained our people—a lot of trainings, from the corporate level to per property trainings. We all went through that.” It was also an eye-opener for the team, she added, “It was also a journey of surprise for us because we learned a lot about how to serve our Muslim guests, how we should be treating them, what pleases them. So that when we welcome them here, they would really feel that we are intentional. Happy to be hosting them in our hotels.”
Muslim-friendly beach front Besides the given requirements for certification, in September last year, MHR extended its offers further by opening the first-ever Muslim-friendly beach front located in Boracay Island. A portion of the 300-square meter beach in Cove 2 in Boracay Newcoast is called Marhaba (translated as “hello” in Arabic) Cove. Here, Muslim travelers and their families can observe Islamic laws while safely enjoying Boracay’s world renowned sun, sea, and sand splendor.
“We are very glad that this was met with a lot of gratitude by our Muslim guests,” Albiso reported. As a parting shot, Albiso thanked the MHR team, leaders, and stakeholders for supporting the vision of diversity and inclusivity through the years. “Our inspiration stems from the fact that the way we lead this business is really born from the stewardship that we were given. We want to take care of operations so we could give back to those who have invested in us. Those who chose to stay with us and those who stayed with us all through this time.”
“We put forward this Filipino and homegrown brand called Megaworld Hotels and Resorts. We’ve increased the inspiration for this country to be proud of a hospitality group that can really make a dent in the industry.
According to a DOT report, “international Muslim arrivals reached 176 million in 2024 –up 25 percent from 2023—and are projected to grow to 245 million by 2030. By then, total travel spending is expected to reach USD 230 billion, highlighting the growing influence and economic potential of this vibrant market.”
Inclusive tourism initiatives
Both the recognition of the Philippines and MHR will certainly bolster the goal to promote the country’s inclusive tourism initiatives. Advancing halal and Muslim-friendly tourism are part of the department’s effort to expand the Philippine’s tourism product portfolio under in its National Tourism Development Plan (NTDP) 2023-2028. In April 2024, to
“We also want to be consistent in what we offer including the Sampaguita brand of hospitality. We will continue to look for more opportunities that will beef up our businesses. We want to provide more work opportunities that will also make our operations sustainable. We want to fortify the trust that our stakeholders have given us to manage this business. To create a stamp, an imprint of a homegrown Filipino brand that we can all be proud of.”
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Cleofe Albiso, Managing Director of Megaworld Hotels & Resorts, speaks about the journey towards inclusivity with Anne Ruth Dela Cruz, BusinessMirror's Health and Fitness and Wine and Dine editor.
Cleofe Albiso, Managing Director of Megaworld Hotels & Resorts
Anne Ruth Dela Cruz, BusinessMirror's Health and Fitness and Wine and Dine editor
Boracay Newcoast Cove has a private beach within the township with a dedicated area for Muslim guests.
Dine with confidence at the Vienne Lobby Lounge, home to a halal-certified kitchen. Every dish is prepared with care, following Halal standards to offer our Muslim guests peace of mind and a flavorful experience.
Megaworld Hotels & Resorts’ Managing Director, Cleofe Albiso, and Group General Manager, Arturo Boncato Jr., accepting the Muslim-Friendly Hotel Chain of the Year Award in Singapore and is joined by Myra Paz Valderrosa-Abubakar, Undersecretary of Department of Tourism – Philippines.
Our Muslim-friendly accommodations at Grand Westside Hotel are thoughtfully prepared for comofrt and spiritual convenience. Each is equipped with a Qibla direction, and prayer mats are available upon request.
Purposefully designed to accommodate the needs of Muslim travelers and families, Marhaba Cove embraces inclusivity while offering the same world-class tropical charm Boracay is known for.
From prayer mats and Qibla direction markers to relaxing wellness spaces like the rooftop pool, gym and sauna--our amenities are designed for a respectful and restful stay.
Thailand and Cambodia agree to ceasefire talks after Trump steps in, but border clashes persist
By Jintamas Saksornchai & Sopheng Cheang The Associated Press
SURIN, Thailand—Thailand and Cambodia on Sunday signaled their readiness to negotiate an end to a deadly border dispute following mediation efforts by US President Donald Trump. The fighting, now in its fourth day, has killed at least 33 people and displaced more than 168,000.
Trump posted on Truth Social on Saturday that he spoke to the leaders of Thailand and Cambodia and suggested he would not move forward with trade agreements with either country if the hostilities continued. He later said both sides agreed to meet to negotiate a ceasefire.
Cambodian Prime Minister Hun Manet said Sunday his country agreed to pursue an “immediate and unconditional ceasefire.” He said Trump told him that Thailand had also agreed to halt attacks following Trump’s conversation with Acting Thai Prime Minister Phumtham Wechayachai.
“This is positive news for the soldiers and people of both countries,” Hun Manet said in a statement. He said he tasked his deputy, Foreign Minister Prak Sokhonn, to coordinate next steps with US Secretary of State Marco Rubio and to engage directly with Thailand’s foreign minister to implement the ceasefire.
Thailand expressed cautious support. Phumtham thanked Trump and said that Thailand agreed in principle to a ceasefire but stressed the need for “sincere intention” from Cambodia, the Thai Foreign Ministry said. Phumtam called for swift bilateral talks to discuss concrete steps toward a peaceful resolution, it said. The fighting first flared Thursday after a land mine explosion
along the border wounded five Thai soldiers. Both sides blamed each other for starting the clashes. Both countries recalled their ambassadors and Thailand closed its border crossings with Cambodia.
Despite the diplomatic efforts, fighting continued Sunday along parts of the contested border, with both sides trading blame over renewed shelling and troop movements.
Col. Richa Suksowanont, a Thai
army deputy spokesperson, said Cambodian forces fired the first shots into Thai territory, including at civilian homes early Sunday. He said Cambodia also launched rocket attacks targeting the ancient Ta Muen Thom temple claimed by both countries, and other areas in a bid to reclaim territory secured by Thai troops.
He said Thai forces responded with long-range artillery to strike Cambodian artillery and rocket
China suppressing coverage of deadly attacks; some people complain online
By Ken Moritsugu The Associated Press
BEIJING—Late last month, a car struck children near an elementary school in an outlying district of Beijing, according to a Chinese news report.
A four-sentence police statement said a 35-year-old male driver hit pedestrians due to “improper operation” of the car. It didn’t mention the school or that the victims included children. Photos of the aftermath, which showed a half-dozen people lying in the street, were scrubbed from China’s closely controlled internet.
“We need the truth,” said one post on Weibo, a leading social media platform similar to X. The ruling Communist Party has expanded information control since leader Xi Jinping came to power in 2012, seeing it as a way to prevent unrest. More and more topics, from negative news about the economy to LGBTQ+ identity, have become subject to some form of censorship. In the past half year, mass attacks—in which a person kills or injures multiple people with a vehicle or knife—appear to have been added to the list.
Some people in China are pushing back, complaining online in at least two cases in recent months after drivers hit pedestrians.
The government may be trying to prevent copycat crimes, experts have
said. Another motivation could be local authorities wanting to cover up when they fail to do so.
A deadly case in November sparked a government reaction
THERE was a spate of attacks last fall, but it’s difficult to gauge whether they are increasing, given the dearth of information.
The attacks weren’t always a taboo topic. In the past, authorities released the basic details. Typically, the assailant was described as taking out their anger on society, often over financial losses.
That appears to have changed following a particularly horrific case in November that killed 35 people in Zhuhai in southern China. Authorities said the driver was upset about a divorce settlement. Orders came from the very top — from Xi — to take steps to prevent similar attacks.
Eight days later, an SUV hit students arriving at an elementary school in Hunan province. The number of injured—30 children and adults— wasn’t made public until nearly a month later when the driver was sentenced.
The clampdown on information has tightened further since. In April, reports circulated online that a car had run into people outside a primary school in Jinhua city. At least three
provincial state media outlets posted stories — but they were quickly taken down. To date, authorities haven’t released any information.
Censorship makes some people hungry for information
TWELVE days later, a fast-moving car veered off a street and into people at a bus stop in the city of Tengzhou in eastern China.
Authorities said nothing. Videos of the May 4 crash were taken down from social media. The next day, online criticism of the silence began to appear. People said the police should release basic information such as the driver’s identity and the number of casualties. A few defended the police, saying it happened on a holiday.
“If a few such precedents are set, and more local governments follow this way in the future, the rules of information disclosure may not be upheld and may be compromised,” Hu Xijin, the former editor of a stateowned newspaper, warned in a social media post.
Local governments want to cover up news that reflects badly on them or their polices, said Jennifer Pan, a Stanford University professor who researches how political censorship and information manipulation work in the digital age. The central government sometimes has other priorities.
“When the issue gains attention despite local censorship efforts, the center has an incentive to preserve the legitimacy of the overall system through responsiveness and acknowledgement of the event and underlying issues,” she said in an email response.
The details came out 48 hours after the crash. Six people had died, and it had not been an intentional attack: The driver was drunk, a state media report said.
Police respond with quick statements that are short on details
SINCE then, local authorities, at least in two cases in Beijing, seem to be taking a new approach: Issue a report quickly but with scant details.
Eleven days after the drunk driving case, a car hit people outside an elementary school in Beijing on May 15. The Beijing Traffic Police issued a report within a few hours but left out that the location was near a school. It said only that four people had been injured when a car sideswiped pedestrians on Jian’an West Road, and that the driver had been detained.
Authorities appeared to impose an information shutdown that evening. Police were stationed along the stretch of road and a person who appeared to be a neighborhood watch volunteer cautioned people in a nearby residential compound not to speak to strangers.
Six weeks later, posts appeared online on June 26 saying a car had hit children in Miyun, about 60 kilometers (40 miles) northwest of central Beijing. One well-reputed media outlet, Caixin, reached area shop owners who said that children had been hit, and a hospital that confirmed it was treating some child victims. Whether it was an intentional act remains unclear.
launchers. Richa said Trump’s efforts to mediate was a “separate matter.”
The battlefield operations will continue and a ceasefire can only happen if Cambodia formally initiates negotiations, he added.
Cambodian Defense Ministry spokesperson Lt. Gen. Maly Socheata accused Thai forces of escalating the violence and increasing their use of cluster bombs — weapons that are banned under
international law. She said Sunday that Thai troops had carried out both targeted and indiscriminate attacks, resulting in loss of life and destruction of civilian infrastructure.
Thailand has reported 20 deaths, mostly civilians, while Cambodia said 13 people have been killed. More than 131,000 people in Thailand have evacuated to safe locations and over 37,000 people fled from three Cambodian provinces. Many border villages are mostly deserted, with many schools and hospitals shut.
The UN Security Council has called on the Association of Southeast Asian Nations, a regional bloc, to mediate peace between the two members. Human Rights Watch has condemned the reported use of cluster munitions in populated areas, and urged both governments to protect civilians.
The 800-kilometer (500-mile) frontier between Thailand and Cambodia has been disputed for decades, but past confrontations have been limited and brief. The latest tensions flared in May when a Cambodian soldier was killed in a confrontation that created a diplomatic rift and roiled Thailand’s domestic politics.
Associated Press writers Chalida Ekvitthayavechnukul and Grant Peck in Bangkok, and Eileen Ng in Kuala Lumpur contributed to this report. Sopheng Cheang reported from Samrong, Cambodia.
LBy Biswajeet Banerjee The Associated Press
UCKNOW, India—A crowd surge at a popular Hindu temple in northern India left at least six people dead and dozens injured, local authorities said Sunday.
The incident in the pilgrimage city of Haridwar occurred after a highvoltage electric wire reportedly fell on a temple path, triggering panic among the large crowd of devotees.
Vinay Shankar Pandey, a senior government official in Uttarakhand state where the incident happened, confirmed the deaths and said worshippers scrambled for safety following the incident.
Some 29 people were injured, according to Haridwar city’s senior police official Pramendra Singh Doval.
Thousands of pilgrims had gathered at the Mansa Devi hilltop temple, which is a major site for Hindu devotees, especially on weekends and festival days, local officials said. They were celebrating the holy month of Shravan.
Someone in the crowd shouted about an electric current on the pathway around 9 a.m.
“Since the path is narrow and meant only for foot traffic, confusion and panic spread instantly,” said local
priest Ujjwal Pandit. “A wall along the path is also suspected to have worsened the crowd bottleneck,” he added. Police and emergency services rushed to the scene and launched a rescue operation. The injured were transported to a nearby hospital, officials said.
“The situation is now under control,” Pandey told the Associated Press by phone
Associated Press journalist Emily Wang Fujiyama contributed to this story.
A CAMBODIAN military vehicle carries rocket launcher in Oddar Meanchey province, Cambodia, Saturday, July 26, 2025, as border fighting between Thailand and Cambodia entered its third day, heightening fears of an extended conflict. AP PHOTO/HENG SINITH
A
The World
Iran’s mass deportation threatens Afghan refugees fleeing Taliban
By Eltaf Najafizada & Golnar Motevalli
AFTER the Taliban retook power in Afghanistan in 2021, Nawida fled with her family to neighboring Iran. The lawyer had helped send members of the Islamist group to jail, and feared being arrested—or killed—for her work.
More than three years later, she is again in hiding—this time in a Tehran suburb with her siblings and eight-year-old son. Iran has embarked on a massive deportation drive of the country’s 3 million-plus population of Afghan refugees, some of whom authorities say aided Israel’s airstrikes on the country last month.
“I don’t know for how long we can keep ourselves like prisoners and I don’t know what lies ahead for us,” said Nawida, who no longer has a valid visa and didn’t want to give her full name to avoid being identified. “We’re calling out loud on the international community to reach out and help us.”
Iran is rounding up Afghan nationals like Nawida due to accusations that non-documented migrants from the country spied for Israel and helped it launch missiles during a 12-day bombing campaign in June. The claims have been made by the state broadcaster, while Iran’s semi-official Tasnim news agency, which is affiliated with the Islamic Revolutionary Guard Corps, reported that several Afghans had been arrested on espionage charges and for possessing manuals for making drones and bombs.
The Israeli Prime Minister’s office in Jerusalem, which oversees spy agency Mossad, had no immediate comment.
More than 1 million people have returned to Afghanistan since June 1, of which 627,000 were deported by the authorities, the United Nations said on Friday.
“Our teams are at the borders, receiving and assisting streams of exhausted, hungry, and scared people,” Babar Baloch, a spokesman for the United Nations High Commissioner for Refugees, said by email. “Staff and structures are absolutely inundated.”
While it’s difficult to verify the Iranian allegations, they have triggered a surge in xenophobic violence and harassment against an already marginalized Afghan community, which has grown in Iran since the 1979 Soviet invasion of Afghanistan and subsequent wars including the 2001 US invasion. About 2.6 million officially registered Afghans live in Iran, according to the UN, and a further 500,000 are undocumented and considered illegal by the Iranian state.
Iranian officials estimate the total number living in the country is closer to six million, or about 7 percent of the population, and often refer to them as “guests” who have access to housing and basic services at a time when Iran’s economy has been strained by sanctions.
The UN has warned the deportation effort will have “devastating consequences” for both Afghanistan and the communities and families being uprooted. That includes the loss of millions of dollars-worth of remittances sent home by Afghans working in Iran each year.
The Taliban’s Prime Minister, Mullah Muhammad Hassan, called on Iranian authorities to “approach the deportation process with patience and gradualism.” according to a statement from his office.
That contrasts with accounts from several deportees interviewed by Bloomberg, who said Iranian authorities have been rounding up Afghans in the street before taking them to remote detention centers. They are then taken by bus to Iran’s border crossing at Islam Qala, where they cross into Herat province, in western Afghanistan.
“Many of them have been away for years, they don’t have a house of home,” the UN’s High Commissioner for Refugees, Filippo Grandi, said in a statement during a visit to Islam Qala. “Many people live at or below the poverty line so the influx is going to be an extraordinary burden on the country.”
Deportees face building a new life in an impoverished, heavily sanctioned Afghanistan struggling with multiple crises including acute food insecurity, water shortages, and basic infrastructure crippled by successive wars.
Many, like Nawida, will be at risk of being targeted by the Taliban if they worked for the previous Afghan administration or for US and European institutions. Girls and women will be excluded from education beyond sixth grade and are largely shut out of employment opportunities.
It feels like “coming to the world’s biggest cage, although it’s my homeland,” Ahmad Saber, one of the deportees in Herat, said by phone. “What will happen to my three daughters’ education and their future?”
London-based Amnesty International last week urged Iran to immediately stop “violently uprooting” Afghans as it violates an international principle prohibiting the return of anyone to a country where they risk having their human rights violated. Expelling women and girls to Afghanistan puts them in particular danger, Amnesty said, due to the Taliban’s policy of gender persecution.
Research published by the United Nations Assistance Mission in Afghanistan on Thursday found that Afghans who were forcibly transferred back to the Taliban-controlled state last year experienced serious human rights violations including torture, ill treatment, arbitrary arrest and threats to personal security. The majority of Afghans who flee to Iran are from the minority Hazara community, who, like most Iranians, are Shia Muslim and have faced violent persecution under the Taliban. With strong linguistic and religious ties, Iran has been seen as a natural port of refuge, and shares a relatively porous border with Afghanistan that’s almost 1,000 km (621 miles) long.
But Iranian authorities keep strict limits on the ability of Afghans to integrate, even after decades of living in the country and raising families there. Afghans are generally prohibited from gaining citizenship unless one parent is an Iranian national. Universities and many job sectors are hard to access for Afghans, many of whom end up employed as casual laborers and construction workers.
While the Iranian government says its only deporting Afghans classified as illegal, the Afghan Analysts Network, an independent research organization, has heard numerous reports of individuals with passports and other legal identity papers being targeted, creating a climate of panic and fear. Bloomberg News
Israel’s military says airdrops of aid will begin in Gaza as hunger grows
By Wafaa Shurafa & Samy Magdy The Associated Press
DEIR AL-BALAH, Gaza Strip—
Israel’s military announced that airdrops of aid would begin Saturday night in Gaza, and humanitarian corridors will be established for United Nations convoys, after increasing accounts of starvation-related deaths.
The statement late Saturday followed months of experts’ warnings of famine amid Israeli restrictions on aid. International criticism, including by close allies, has grown as several hundred Palestinians have been killed in recent weeks while trying to reach food distribution sites.
The military statement did not say where the airdrops or humanitarian corridors would be. It also said the military is prepared to implement humanitarian pauses in densely populated areas. Israel’s foreign ministry said late Saturday the humanitarian pauses would start Sunday in “civilian centers” along with humanitarian corridors.
The military “emphasizes that combat operations have not ceased” in Gaza against Hamas, and it asserted there is “no starvation” in the territory, where most of the population of over 2 million has been displaced into a shrinking area with little infrastructure. The majority of people rely on aid. Later, the Israeli military released video footage of what it said were airdrops in coordination with inter -
national organizations and led by COGAT, the Israeli defense agency in charge of aid coordination in the Palestinian territory. It said the drop included seven packages of aid containing flour, sugar and canned food. Witness accounts from Gaza have been grim. Some health workers are so weakened by hunger that they put themselves on IV drips to keep treating the badly malnourished. Parents have shown their limp and emaciated children. Wounded men have described desperate dashes for aid under gunfire.
The military statement said airdrops would be conducted in coordination with international aid organizations. It was not clear where they would be carried out. And it wasn’t clear what role the recently created and Israeli-backed Gaza Humanitarian Foundation—meant as an alternate to the UN aid system—might play. GHF chair Johnnie Moore in a statement said the group stood ready to assist.
At least 53 killed ISRAELI airstrikes and gunshots
killed at least 53 people in Gaza overnight and into Saturday, most of them shot dead while seeking aid, according to Palestinian health officials and the local ambulance service.
Deadly Israeli gunfire was reported twice close to the Zikim crossing with Israel in the north. In the first incident, at least a dozen people waiting for aid trucks were killed, said staff at Shifa hospital, where bodies were taken. Israel’s military said it fired warning shots to distance a crowd “in response to an immediate threat.”
A witness, Sherif Abu Aisha, said people started running when they saw a light that they thought was from aid trucks, but as they got close, they realized it was Israel’s tanks. That’s when the army started firing, he told The Associated Press. He said his uncle was among those killed.
“We went because there is no food ... and nothing was distributed,” he said.
On Saturday evening, Israeli forces killed at least 11 people and wounded 120 others when they fired toward crowds who tried to get food from an entering UN convoy, Dr. Mohamed Abu Selmiyah, director of Shifa hospital, told the AP.
“We are expecting the numbers to surge in the next few hours,” he said. There was no immediate military comment.
AP video showed a group of weary Palestinian men carrying a body along with sacks of flour. They said he was hit by a truck but had no details. “You die to fetch some food for your children,” said one man, Fayez Abu Riyala, thin and sweating.
In the southern city of Khan Younis, Israeli forces shot dead at least nine people trying to get aid entering through the Morag corridor, according to the hospital’s morgue records. There was no immediate military comment.
Elsewhere, those killed in strikes included four people in an apartment building in Gaza City and at least eight, including four children, in the crowded tent camp of Muwasi in Khan Younis, hospitals said.
Turning to airdrops, with a warning THE airdrops were requested by neighboring Jordan, and a Jordanian official said they mainly will drop food and milk formula. The United Arab Emirates said airdrops would start “immediately.” Britain said it plans to work with partners to airdrop aid and evacuate children requiring medical assistance.
But the head of the United Nations agency for Palestinian refugees, Philippe Lazzarini, warned that airdrops are “expensive, inefficient and can even kill starving civilians” and won’t reverse the increasing starvation or prevent aid diversion.
While Israel’s army has said it allows aid into the enclave with no limit on the trucks that can enter, the UN says it is hampered by military restrictions on its movements and criminal looting. The Hamas-run police had provided security for aid delivery, but it has been unable to operate after being targeted by airstrikes.
Israel on Saturday said over 250 trucks carrying aid from the UN and other organizations entered Gaza this week. About 600 trucks entered per day during the latest ceasefire that Israel ended in March.
Israel faces growing international pressure. More than two dozen Western-aligned countries and over 100 charity and human rights groups have called for an end to the war, harshly criticizing Israel’s blockade and a new aid delivery model it has rolled out.
More than 1,000 Palestinians have been killed by Israeli forces since May while trying to get food, mostly near the new aid sites run by the GHF, an American contractor, the UN human rights office says.
The charities and rights groups said their own staff struggled to get enough food.
Inside Gaza, children with no preexisting conditions have begun to starve to death.
“We only want enough food to end our hunger,” said Wael Shaaban at a charity kitchen in Gaza City as he tried to feed his family of six.
Meanwhile, an activist boat from the Freedom Flotilla Coalition trying to reach Gaza with aid, the Handala, livestreamed video showing Israeli forces boarding around midnight. The Israeli Foreign Ministry said in a statement on X that the navy stopped a vessel it identified as the Navarn from entering Palestinian territorial waters off the Gaza coast. It said the vessel was safely making its way to Israeli shores and all the passengers were safe.
“Unauthorized attempts to breach the blockade are dangerous, unlawful, and undermine ongoing humanitarian efforts,” the ministry said. Stalled ceasefire talks CEASEFIRE talks between Israel and Hamas were at a standstill after the US and Israel recalled negotiating teams on Thursday.
Israeli Prime Minister Benjamin Netanyahu said Friday his government was considering “alternative options” to talks. A Hamas official, however, said negotiations were expected to resume next week and called the delegations’ recall a pressure tactic. Magdy reported from Cairo.
Latest child to starve to death in Gaza weighed less than when she was born
By Samy Magdy & Mariam Dagga
The Associated Press
KHAN YOUNIS, Gaza Strip—A mother pressed a final kiss to what remained of her 5-month-old daughter and wept. Esraa Abu Halib’s baby now weighed less than when she was born.
On a sunny street in shattered Gaza, the bundle containing Zainab Abu Halib represented the latest death from starvation after 21 months of war and Israeli restrictions on aid. The baby was brought to the pediatric department of Nasser Hospital on Friday. She was already dead. A worker at the morgue carefully removed her Mickey Mouse-printed shirt, pulling it over her sunken, open eyes. He pulled up the hems of her pants to show her knobby knees. His thumb was wider than her ankle. He could count the bones of her chest.
The girl had weighed over 3 kilograms (6.6 pounds) when she was born, her mother said. When she died, she weighed less than 2 kilograms (4.4 pounds). A doctor said it was a case of “severe, severe starvation.”
She was wrapped in a white sheet for burial and placed on the sandy ground for prayers. The bundle was barely wider than the imam’s stance. He raised his open hands and invoked Allah once more.
She needed special formula ZAINAB was one of 85 children to die of malnutrition-related causes in Gaza during the war, according to the latest toll released by the territory’s Health Ministry on Saturday. It said 127 people had died of malnutritionrelated causes overall, with the adult deaths counted in just the past few weeks.
“She needed a special baby formula which did not exist in Gaza,” Zainab’s father, Ahmed Abu Halib, told The Associated Press as he pre -
pared for her funeral prayers in the hospital’s courtyard in the southern city of Khan Younis.
Dr. Ahmed al-Farah, head of the pediatric department, said the girl had needed a special type of formula that helps with babies allergic to cow’s milk.
He said she hadn’t suffered from any diseases, but the lack of the formula led to chronic diarrhea and vomiting. She wasn’t able to swallow as her weakened immune system led to a bacterial infection and sepsis, and quickly lost more weight.
‘Many will follow’ THE child’s family, like many of Gaza’s Palestinians, lives in a tent, displaced. Her mother, who also has suffered from malnutrition, said she breastfed the girl for only six weeks before trying to feed her formula.
“With my daughter’s death, many will follow,” she said. “Their names are on a list that no one looks at. They are just names and
numbers. We are just numbers. Our children, whom we carried for nine months and then gave birth to, have become just numbers.” Her loose robe hid her own weight loss.
The arrival of children suffering from malnutrition has surged in recent weeks, alFarah said. His department, with a capacity of eight beds, has been treating about 60 cases of acute malnutrition. They have placed additional mattresses on the ground.
Another malnutrition clinic, affiliated with the hospital, receives an average of 40 cases weekly, he said.
“Unless the crossings are opened and food and baby formula are allowed in for this vulnerable segment of Palestinian society, we will witness unprecedented numbers of deaths,” he warned.
Doctors and aid workers in Gaza blame Israel’s restrictions on the entry of aid and medical supplies. Food security experts warn of famine in the territory of over 2 million people.
‘Shortage of everything’
AFTER ending the latest ceasefire in March, Israel cut off the entry of food, medicine, fuel and other supplies completely to Gaza for 2 ½ months, saying it aimed to pressure Hamas to release hostages.
Under international pressure, Israel slightly eased the blockade in May. Since then, it has allowed in around 4,500 trucks for the U.N. and other aid groups to distribute, including 2,500 tons of baby food and highcalorie special food for children, Israel’s Foreign Ministry said last week. Israel says baby formula has been included, plus formula for special needs.
The average of 69 trucks a day, however, is far below the 500 to 600 trucks a day the U.N. says are needed for Gaza. The U.N. says it has been unable to distribute much of the aid because hungry crowds and gangs take most of it from its arriving trucks.
Separately, Israel has backed the US-
registered Gaza Humanitarian Foundation, which in May opened four centers distributing boxes of food supplies. More than 1,000 Palestinians have been killed by Israeli forces since May while trying to get food, mostly near those new aid sites, the U.N. human rights office says. Much of Gaza’s population now relies on aid.
“There was a shortage of everything,” the mother of Zainab said as she grieved. “How can a girl like her recover?” Late Saturday, Israel’s foreign ministry announced that a humanitarian pause would begin Sunday morning in parts of Gaza to allow for more aid delivery, and it added: “Israel rejects the false accusations of ‘starvation’ propaganda initiated by Hamas which manipulates pictures of children suffering from terminal diseases. It is shameful.”
Magdy reported from Cairo.
Fed under pressure: Powell to lead rate decision amid trade tensions and presidential calls for cuts
By Vince Golle
FEDERAL
Reserve Chair
Jerome
Powell
and his colleagues will step into the central bank’s board room on Tuesday to deliberate on interest rates at a time of immense political pressure, evolving trade policy, and economic cross-currents.
In a rare occurrence, policymakers will convene in the same week that the government issues reports on gross domestic product, employment and the Fed’s preferred price metrics. Fed officials meet Tuesday and Wednesday, and are widely expected to keep rates unchanged again.
Forecasters anticipate the heavy dose of data will show economic activity rebounded in the second quarter, largely due to a sharp narrowing of the trade deficit, while job growth moderated in July. The third marquee report may show underlying inflation picked up slightly in June from a month earlier. While the government’s advance estimate of GDP for the quarter is projected to show an annualized 2.4 percent increase—after the economy shrank 0.5 percent in January-March— Wednesday’s report will probably reveal only modest household demand and business investment. The median forecast in a Bloomberg survey calls for a 1.5 percent gain in consumer spending to mark the weakest back-to-back quarters since the onset of the pandemic in early 2020. A shaky housing market also weighed on second-quarter activity. At the end of the week, the July jobs report is forecast to show companies are becoming more deliberate in their hiring. Employment likely moderated after a June increase that was boosted by a jump in education payrolls, while the unemployment rate is seen ticking up to 4.2 percent. Private payrolls are projected to rise by 100,000 after the smallest advance in eight months. Through the first half of the year, the pace of hiring by companies has eased compared with the 2024 average. The breadth of job growth has been relatively narrow as well. Separate figures out Tuesday are forecast to show job openings declined in June.
A few Fed officials have started to raise concerns about what they see as a fragile job market, including two who’ve said they see merit in considering a rate cut now. Pressure is also mounting from outside the boardroom. President Donald Trump has been vocal about his desire to see Powell & Co. lower borrowing costs for consumers and businesses.
“We think a consumer-led slowdown poses a risk to the outlook. While June retail sales beat expectations, that was likely a reflection of tariff-driven price increases in certain goods categories. Ultimately, the labor market—which we expect to continue weakening this year—will define the path of consumption,” said Bloomberg economists Anna Wong, Stuart Paul, Eliza Winger, Estelle Ou and Chris G. Collins.
The president has frequently chastised Powell for moving too slowly, while at the same time taking aim at his stewardship over construction cost overruns related to renovation of the Fed’s Eccles Building headquarters in Washington. Powell and other central bankers have stressed the need for patience as the Trump administration’s tariffs risk a re-acceleration of inflation. So far this year, since a variety of US duties on imports were imposed, price pressures have been modest.
The government’s personal income and spending report for June, due on Friday, is projected to show the Fed’s preferred core inflation gauge accelerated slightly from a month earlier, indicating tariffs are only gradually
being passed through to consumers.
Further north, the Bank of Canada is also set to hold, keeping borrowing costs steady at 2.75 percent for a third consecutive meeting amid trade uncertainty, sticky core inflation, and an economy that seems to be handling tariffs better than many economists expected. Officials will release a monetary policy report, but it’s not yet known whether they’ll return to point forecasts or release multiple scenarios, as they did in April amid volatile US trade policy.
Industry-based GDP data for May and a flash estimate for June are expected to point to a contraction in the second quarter. Prime Minister Mark Carney is pushing to get a trade deal done with Trump by Aug. 1, but he and the country’s provincial leaders have downplayed expectations, saying they’re focused above all on getting a good agreement.
On a global level, Trump’s Friday deadline also takes center stage, with several countries—including the European Union, South Korea and Switzerland—still hoping to clinch trade agreements.
European Commission chief Ursula von der Leyen will travel to Scotland to meet the US president on Sunday in her attempt to secure a pact. EU officials have repeatedly cautioned that a deal ultimately rests with Trump, making the final outcome difficult to predict.
Elsewhere, central bankers in Japan and Brazil are also likely to keep rates unchanged, while cuts are anticipated in South Africa, Chile, Ghana, Pakistan and Colombia. Investors will also watch for new International Monetary Fund’s forecasts, global purchasing manager index readings, and a barrage of GDP and inflation data in Europe.
Bloomberg’s wrap of what’s coming up in the global economy:
Asia
ASIA’S central bank highlight comes Thursday, with the Bank of Japan expected to hold its benchmark rate steady at 0.5 percent. Governor Kazuo Ueda’s reaction to the US trade deal will be a focus after his deputy said the agreement boosted the likelihood of economic forecasts being met—a key condition for another rate hike.
A slew of data will reflect the impact of Trump’s tariff campaign. Trade figures are due from the Philippines, Hong Kong, Sri Lanka, Thailand, South Korea and Indonesia, while manufacturing PMI figures are due across the region.
China gets two sets of July PMI data at the end of the week, with attention on whether the official gauge can edge higher for a third month and S&P Global’s index can stay in the expansion zone. Others releasing PMI statistics include Indonesia, South Korea, Malaysia, the Philippines, Thailand, Taiwan and Vietnam, all on Friday. Meantime, Australia gets second quarter data that’s expected to show consumer inflation cooled a tad, which could give the Reserve Bank room to resume its rate cutting cycle when it next sets policy on Aug. 12. Pakistan’s central bank may cut rates on Wednesday, two days before the country—and Indonesia—gets new inflation readings.
Europe, Middle East, Africa
OUTPUT and inflation
mained flat in the three months through June, after a 0.6 percent expansion in the first quarter. That performance was lifted by a frontloading in trade before Trump’s expected announcement of global import duties.
Among the bloc’s biggest economies, Germany is forecast to see the worst performance, with output slipping 0.1 percent from the previous quarter. Spain is expected to keep growing by 0.6%, with France and Italy expanding just slightly. Smaller economies publish their numbers throughout the week, with Ireland—so often a wild card for the bloc’s economy—kicking things off on Monday. Meanwhile, inflation data for the euro area on Friday are set to confirm the European Central Bank’s confidence that it’s been brought under control. Consumer prices are forecast to have risen 1.9 percent in July, less than the previous month’s 2 percent and just below the central bank’s goal. A measure of underlying inflation probably remained steady, at 2.3 percent.
With most of Europe in vacation mode, only a single ECB speaker has a scheduled appearance—Spain’s José Luis Escrivá, on Monday—while results from the central bank’s monthly survey of consumers’ inflation expectations are due a day later, and its wage tracker comes on Wednesday.
The Bank of England goes into a quiet period ahead of its Aug. 7 rate decision, with economic releases on the UK agenda primarily linked to housing.
Rate decisions are scheduled across Africa:
A STEEP slowdown in inflation will likely see officials in Ghana lower borrowing costs by 250 basis points to 25.5 percent on Wednesday. Its real rate is the highest it’s been since at least 2005, providing room for the central bank to deliver the biggest reduction in more than two decades.
South Africa is set to extend its longest easing cycle since 2019 as inflation is anticipated to remain benign. Economists surveyed by Bloomberg expect the central bank to cut on Thursday by 25 basis points, to 7 percent.
On the same day, Malawi’s policymakers are poised to leave their key rate unchanged at 26 percent due to foreign-exchange constraints and persistent price pressures.
A technical recession in Mozambique will probably convince policymakers to opt for further easing on Thursday to stimulate the economy. It has cut by 625 basis points since January 2024.
Eswatini, whose currency is pegged to the rand, will probably lower its benchmark by a quarter point on Friday, to 6.5 percent.
Latin America
CHILE’S central bank on Tuesday is likely to deliver its first rate cut of 2025, opting for a quarter-point reduction to 4.75 percent.
Consumer prices last month cooled more than expected and inflation is once again slowing in line with central bank forecasts, which have the headline reading back to the 3 percent target in 2026. Mexico’s flash second-quarter data posted on Wednesday should show Latin America’s No. 2 economy posting slight quarterly and year-on-year expansions amid the drag from Trump’s trade and tariff policies.
Most analysts see the second half of the year posing a greater challenge.
In the region’s second central bank rate decision of the week, Banco Central do Brasil is widely expected to draw a line under a seven-meeting, 450 basispoint tightening campaign and keep the key Selic rate at 15 percent.
Recent inflation prints and nearterm expectations are beginning to come down, but policymakers last month signaled that borrowing costs will likely remain steady for a long period. In Colombia, headline inflation is running above the top of BanRep’s tolerance range and core readings remain
stubbornly elevated, but policymakers probably saw just enough cooling in June’s consumer price data to justify a quarter-point cut, to 9 percent. Peru on Friday kicks off consumer price reports for the region’s big inflation targeting economies. The early consensus among economists is that July’s annual reading will come in near June’s 1.69 percent print.
With assistance from
Alexander Weber, Andrew Atkinson, Brian Fowler, Erik Hertzberg, Mark Evans, Monique Vanek, Piotr Skolimowski and Robert Jameson / Bloomberg
JEROME POWELL PHOTOGRAPHER: AL DRAGO/BLOOMBERG
South Korean stocks lure billions in foreign investment on back of regulatory overhaul
By Sangmi Cha & John Cheng
SOUTH Korean stocks, already this year’s best performers among the world’s major markets, are becoming a magnet for foreign investors as bold regulatory reforms to lift valuations and empower minority shareholders gain traction.
Just this month, policymakers voted in favor of pivotal law changes to make board members legally accountable to all shareholders. They are now focusing on the next wave of reforms—including improvements to the voting system for selection of board members, and reducing treasury stock holdings—all with the goal of reining in the nation’s many familyrun conglomerates, or chaebols.
and spur a world-beating equity rally.
can nominate.
Treasury stock
Then there is the issue of treasury shares, which have become a flashpoint in South Korea. Such stock can be transferred by companies to friendly parties, such as family members or affiliates — who then can vote with them to give the controlling family more power without increasing actual ownership.
ing a more stringent approach that requires all existing treasury shares to be retired within six months, the person said, asking not to be identified as negotiations are ongoing.
The German model requires companies to sell treasury shares that exceed 10% of the capital stock within three years of purchase, according to information on a government website.
Reforms “will contribute to the continuation of a culture shift already underway and will reduce the ability of controlling shareholders to compel restructurings that benefit them at the expense of minority shareholders,” said Jonathan Pines of Federated Hermes, whose $4.5 billion Asia Ex-Japan equity fund has beaten 92% of its peers over one year. “We remain very significantly overweight Korean stocks.”
South Korean authorities have been seeking to replicate the success seen in Japan, where a push for corporate reforms helped boost valuations
From Wall Street to London, investors are taking notice. Overseas funds, which dumped Korean stocks for nine straight months through April, are piling back into the market. Strategists at global banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and Morgan Stanley are among those who have upgraded Korea since the start of June. The benchmark Kospi has surged 33% in 2025, helping propel the equity market’s value above $2 trillion for the first time in three years.
Optimism that the nation is serious about tackling the so-called “Korea discount” has grown since newly elected President Lee Jae Myung made raising governance standards and improving stock-market returns one of his top priorities.
Net inflows from foreign funds have crossed $3 billion in July alone. That’s more than their combined purchases in the previous two months.
“We’re seeing a big change in the corporate governance,” said Joshua Crabb, head of Asia Pacific equities at Robeco Hong Kong Ltd., noting more capital discipline, buybacks and dividends. “This does not require a great global environment. These are things that are almost like a bit of self-help.”
After having discussed the latest round of commercial code revisions
Trump claims Japan will invest $550 billion in US as part of trade deal, but details remain uncertain
By Josh Boak & Mari Yamaguchi
The Associated Press
ASHINGTON—President
WDonald Trump is bragging that Japan has given him, as part of a new trade framework, $550 billion to invest in the United States.
It’s an astonishing figure, but still subject to negotiation and perhaps not the sure thing he’s portraying.
“Japan is putting up $550 billion in order to lower their tariffs a little bit,” Trump said Thursday. “They put up, as you could call it, seed money.
Let’s call it seed money.”
He said 90 percent of any profits from the money invested would go to the US even if Japan had put up the funds. “It’s not a loan or anything, it’s a signing bonus,” the Republican president said, on the trade framework that lowered his threatened tariff from 25 percent to 15 percent, including on autos.
A White House official said the terms are being negotiated and nothing has been formalized in writing. The official, who insisted on anonymity to detail the terms of the talks, suggested the goal was for the $550 billion fund to make investments at Trump’s direction.
The sum is significant: It would represent more than 10 percent of Japan’s entire gross domestic product.
The Japan External Trade Organization estimates that direct investment into the US economy topped $780 billion in 2023. It is unclear the degree to which the $550 billion could represent new investment or flow into existing investment plans.
What the trade framework announced Tuesday has achieved is a major talking point for the Trump administration.
The president has claimed to have brought trillions of dollars in new investment into the US, though the impact of those commitments have yet to appear in the economic data for jobs, construction spending or manufacturing output. The framework also enabled Trump to say other countries are agreeing to have their goods taxed, even if some of the costs
STAFF member distributes an extra edition of the Yomiuri Shimbun newspaper reporting that President Donald Trump announced a trade framework with Japan on Tuesday (Wednesday, July 23, 2025, in Tokyo). The headline reads “US, a 15% tax on goods imported from Japan.” AP PHOTO/EUGENE HOSHIKO
of those taxes are ultimately passed along to US consumers.
On the $550 billion, Japan’s Cabinet Office said it involves the credit facility of state-affiliated financial institutions, such as Japan Bank for International Cooperation. Further details would be decided based on the progress of the investment deals. Japanese trade negotiator Ryosei Akazawa, upon returning to Japan, did not discuss the terms of the $550 billion investment. Akazawa said he believes a written joint statement is necessary, at least on working levels, to avoid differences. He is not thinking about a legally binding trade pact.
The US apparently released its version of the deal while Japanese officials were on their return flight home.
“If we find differences of understanding, we may have to point them out and say ‘that’s not what we discussed,’” Akazawa said.
The US administration said the fund would be invested in critical minerals, pharmaceuticals, computer chips and shipbuilding, among other industries. It has said Japan will also buy 100 airplanes from Boeing and rice from US farmers as part of the framework, which Treasury Secretary Scott Bessent said would be evaluated every three months.
“And if the president is unhappy,
then they will boomerang back to the 25% tariff rates, both on cars and the rest of their products. And I can tell you that I think at 25, especially in cars, the Japanese economy doesn’t work,” Bessent told Fox News’ “The Ingraham Angle.” Akazawa denied that Bessent’s quarterly review was part of the negotiations.
“In my past eight trips to the United States during which I held talks with the president and the ministers,” Akazawa said. “I have no recollection of discussing how we ensure the implementation of the latest agreement between Japan and the United States.”
He said it would cause major disruptions to the economy and administrative processes if the rates first rise to 25% as scheduled on Aug. 1 and then drop to 15%. “We definitely want to avoid that and I believe that is the understanding shared by the US side,” he said.
On buying US rice, Japanese officials have said they have no plans to raise the current 770,000-ton “minimum access” cap to import more from America. Agricultural Minister Shinjiro Koizumi said Japan will decide whether to increase US rice imports and that Japan is not committed to a fixed quota.
Yamaguchi reported from Tokyo.
earlier this month, lawmakers plan on voting for them on Aug. 4. During this round, they will be pushing to mandate a cumulative voting system for listed firms in an effort to promote board diversity.
Cumulative voting has become a cornerstone of the ruling Democratic Party’s corporate governance agenda.
In such a system, a shareholder typically receives votes equal to the number of shares they hold multiplied by the number of board seats up for election. This would enable minority shareholders to pool votes and elect at least one board member aligned with their interest—such as advocating for more share buybacks or dividends.
Another proposal that will be considered for this round would be to cap the number of audit committee members that major shareholders
While not directly part of the agenda for this round of corporate code revisions, a proposal to mandate the cancellation of treasury stock remains a key focus for Lee and his allies as they pursue their ambitious goal of “Kospi 5000.”
The proposal has drawn strong opposition from conglomerates. It should be phased in “to avoid instability,” Lee Han-joo, a senior aide to Lee and the head of the State Affairs Planning Committee, told Bloomberg in a recent interview.
At a minimum, companies may push to preserve existing treasury shares while agreeing to cancel those acquired going forward, said Seokkeun Ha, chief investment officer at Eugene Asset Management. “That would disappoint the market,” he said.
Authorities are discussing various options in this regard, according to a person familiar with the matter. Options range from creating a model similar to that of Germany’s to us -
“If we’re aiming for Kospi 5,000, I believe treasury share cancellation is essential,” Ha said. “That’s how return-on-equity increases and higher ROE drives up the price-to-book ratio.” Lee’s crusade to protect minority shareholders’ rights relies on lawmakers delivering substantive changes at a credible pace while resisting pushback from entrenched interests. With markets having rallied so hard on expectations, the bar for disappointment is low.
In a recent survey of 300 listed companies released by the Korea Chamber of Commerce and Industry, about 77 percent said further commercial code revisions could have “negative impact on business growth.”
“Big bang gains were quite a bit driven by sentiment, and that’s gone,” said Xin-Yao Ng, investment director at Aberdeen Investments. “Going forward, we’ll need better delivery of legislation to incentivize value-up and companies themselves delivering actual changes.” With assistance from Charlotte Yang / Bloomberg
Women in legislatures across the US fight for ‘potty parity’
By Kimberlee Kruesi & Claire Rush
FThe Associated Press
OR female state lawmakers in Kentucky, choosing when to go to the bathroom has long required careful calculation.
There are only two bathroom stalls for women on the third floor of the Kentucky Statehouse, where the House and Senate chambers are located. Female legislators—41 of the 138-member Legislature—needing a reprieve during a lengthy floor session have to weigh the risk of missing an important debate or a critical vote.
None of their male colleagues face the same dilemma because, of course, multiple men’s bathrooms are available. The Legislature even installed speakers in the men’s bathrooms to broadcast the chamber’s events so they don’t miss anything important.
In a pinch, House Speaker David Osborne allows women to use his single stall bathroom in the chamber, but even that attracts long lines.
“You get the message very quickly: This place was not really built for us,” said Rep. Lisa Willner, a Democrat from Louisville, reflecting on the photos of former lawmakers, predominantly male, that line her office.
The issue of potty parity may seem comic, but its impact runs deeper than uncomfortably full bladders, said Kathryn Anthony, professor emerita at the University of Illinois at UrbanaChampaign’s School of Architecture.
“It’s absolutely critical because the built environment reflects our culture and reflects our population,” said Anthony, who has testified on the issue before Congress. “And if you have an environment that is designed for half the population but forgets about the other half, you have a group of disenfranchised people and disadvantaged people.”
There is hope for Kentucky’s lady legislators seeking more chamber potties. A $300 million renovation of the 155-year-old Capitol—scheduled for completion by 2028 at the soonest—aims to create more women’s restrooms and end Kentucky’s bathroom disparity.
The Bluegrass State is among the last to add bathrooms to aging statehouses that were built when female
legislators were not a consideration.
In the $392 million renovation of the Georgia Capitol, expanding bathroom access is a priority, said Gerald Pilgrim, chief of staff with the state’s Building Authority. It will introduce female facilities on the building’s fourth floor, where the public galleries are located, and will add more bathrooms throughout to comply with the Americans with Disabilities Act.
“We know there are not enough bathrooms,” he said.
Evolving equality in statehouses THERE’S no federal law requiring bathroom access for all genders in public buildings. Some 20 states have statutes prescribing how many washrooms buildings must have, but historical buildings—such as statehouses—are often exempt.
Over the years, as the makeup of state governments has changed, statehouses have added bathrooms for women.
When Tennessee’s Capitol opened in 1859, the architects designed only one restroom—for men only—situated on the ground floor. According to legislative librarian Eddie Weeks, the toilet could only be “flushed” when enough rainwater had been collected.
“The room was famously described as ‘a stench in the nostrils of decency,’” Weeks said in an e-mail.
Today, Tennessee’s Capitol has a female bathroom located between the Senate and House chambers. It’s in a cramped hall under a staircase, sparking comparisons to Harry Potter’s cupboard bedroom, and it contains just two stalls. The men also just have one bathroom on the same floor, but it has three urinals and three stalls.
Democratic Rep. Aftyn Behn, who was elected in 2023, said she wasn’t aware of the disparity in facilities until contacted by The Associated Press.
“I’ve apparently accepted that waiting in line for a two-stall closet under the Senate balcony is just part of the job,” she said.
“I had to fight to get elected to a legislature that ranks dead last for female representation, and now I get to squeeze into a space that feels like it was designed by someone who thought women didn’t exist -- or at least didn’t have bladders,” Behn said. The Maryland State House is the
country’s oldest state capitol in continuous legislative use, operational since the late 1700s. Archivists say its bathroom facilities were initially intended for white men only because desegregation laws were still in place. Women’s restrooms were added after 1922, but they were insufficient for the rising number of women elected to office.
Delegate Pauline Menes complained about the issue so much that House Speaker Thomas Lowe appointed her chair of the “Ladies Rest Room Committee,” and presented her with a fur covered toilet seat in front of her colleagues in 1972. She launched the women’s caucus the following year. It wasn’t until 2019 that House Speaker Adrienne A. Jones, the first woman to secure the top position, ordered the addition of more women’s restrooms along with a gender-neutral bathroom and a nursing room for mothers in the Lowe House Office Building.
‘No longer do we fret and squirm or cross our legs in panic’ AS more women were elected nationwide in the 20th century, some found creative workarounds.
In Nebraska’s unicameral Legislature, female senators didn’t get a dedicated restroom until 1988, when a facility was added in the chamber’s cloakroom. There had previously been a single restroom in the Senate lounge, and Sen. Shirley Marsh, who served for some 16 years, would ask a State Patrol trooper to guard the door while she used it, said Brandon Metzler, the Legislature’s clerk.
In Colorado, female House representatives and staff were so happy to have a restroom added in the chamber’s hallway in 1987 that they hung a plaque to honor then-state Rep. Arie Taylor, the state’s first Black woman legislator, who pushed for the facility. The plaque, now inside a women’s bathroom in the Capitol, reads: “Once here beneath the golden dome if nature made a call, we’d have to scramble from our seats and dash across the hall ... Then Arie took the mike once more to push an urge organic, no longer do we fret and squirm or cross our legs in panic.”
Associated Press writer Brian Witte in Annapolis, Maryland, contributed.
A
‘Tariff talks with US exclude key farm goods’
By Bless Aubrey Ogerio
RICE, corn, sugar, pork, chicken and fish will remain protected in the ongoing trade negotiations with the United States, according to Agriculture secretary Francisco Tiu Laurel Jr.
The Department of Agriculture (DA) chief said Philippine trade officials have assured the DA that safeguarding domestic producers remains a “top priority.”
“Secretary Frederick Go and
Trade Secretary Cristina Roque have assured us that the top priority for Philippine trade negotiators is protecting our local producers.”
The clarification follows last
Innovation, national product branding can transform agrifood systems–FAO
AFRICA and Asia can learn from each other to use innovation and national product branding to transform agrifood systems, improving food, nutrition and livelihood security, the Food and Agriculture Organization of the United Nations (FAO) told an Africa-Asia ministerial meeting in Hanoi, Vietnam last week.
In the first such intercontinental dialogue, ministers and top-level agriculture policymakers from 14 countries in Africa, and three in Asia, met in the Vietnamese capital to discuss challenges and opportunities to making farming productive, resilient, sustainable and profitable for smallholders, the main agrifood producers. Agriculture ministers and senior officials from Bhutan, Cameroon, Cote d‘Ivoire, Democratic Republic of the Congo, Gabon, Ghana, Ethiopia, Lesotho, Malawi, Mozambique, Nepal, Sierra Leone, South Sudan, Tunisia, Vietnam, Zambia and Zimbabwe attended the High-Level Inter-regional Knowledge Exchange on One Country One Priority Product (OCOP) Models.
“I am confident that this knowledge-sharing will highlight how innovation and national product branding can boost productivity, improve profitability, open new markets, and promote a better life for rural communities, as well as show how Asia’s successes can inspire and support Africa’s efforts, and vice versa,” FAO Director-General Qu Dongyu said in a video message to the event.
Co-organized by FAO and the Government of Vietnam, the event aimed to familiarize countries in Africa with Vietnam’s successful transformative national target program on new rural development through its “One Commune One Product.”
Vietnam’s Program “has proven to be an effective tool for empowering rural communities
Tand promoting ownership, accountability, and local cultural values for economic development and quality of life,” said Minister of Agriculture and Environment (MAE), Vietnam Do Duc Duy in his opening remarks.
Launched in 2018, the Vietnamese initiative leverages each locality’s potential and advantages, fostering selfreliance and creativity in every citizen and community, to increase value and create distinctive, characteristic products unique to each locality, region, and area.
Over 16,800 products rated 3 stars or higher, have been developed by the Vietnamese initiative, with millions of jobs created, and more than 60 percent participating households seeing an average annual revenue increase of 18 percent.
“We also see a clear alignment between Vietnam’s One Commune One Product Program and FAO’s One Country One Priority Product initiative - both aim to identify and promote strategic products of each locality and nation based on cultural respect, sustainability, and global market access,” the minister added.
Launched in 2021, the FAO One Country One Priority Product (OCOP) flagship initiative aims to catalyze agrifood systems transformation by promoting sustainable value chains of nutritious, but underutilized, special agricultural products with unique geographical and cultural traits.
Agriculture ministers from Africa joined their Asian counterparts to share national experiences in OCOP implementation.
Producing more food with less inputs, making agriculture climate-resilient, sustainable and profitable for all, is critical for Africa and Asia and the Pacific, the regions with the world’s highest levels of hunger, malnutrition and poverty.
week’s announcement by US President Donald Trump that the Philippines has agreed to a 19 percent tariff on its exports to the US while allowing American goods dutyfree entry into the country.
Malacañang, however, said a final agreement has yet to be signed, as negotiations are still underway.
Go, who serves as Special Assistant to the President for Investment and Economic Affairs, maintained that no concessions have been made that would endanger domestic producers.
As Washington and Manila continue to hammer out the details of the trade deal, agriculture groups cited risks and opportunities in the
The Philippine Chamber of Agriculture and Food Inc. (Pcafi) said proposed tariff concessions on wheat and soy imports from the US are unlikely to harm local agriculture, since the two commodities are not produced domestically and may even reduce feed costs.
The Meat Importers and Traders Association (MITA), for its part, welcomed zero-duty access for American goods as this could allow the entry of more meat products from the US.
Meanwhile, the United Coconut Association of the Philippines (UCAP) warned that the 19 percent US tariff on Philippine coconut exports could curb demand. However, it remains hopeful that regulatory changes in the US may boost interest in coconut oil.
The Philippines recorded agricultural trade deficits with the United States in 2023 and 2024, at $2.36 billion and $1.95 billion, respectively, according to data from the Philippine Statistics Authority (PSA).
PSA said the country’s total agricultural trade in 2024, which amounted to $27.22 billion, posted an annual increase of 11.8 percent.
“In 2024, total agricultural exports was recorded at $7.75 billion or 28.5 percent share to the total agricultural trade, while agricultural imports accounted for $19.46 billion or 71.5 percent of the total agricultural trade.” Last year, agricultural trade deficit widened by almost 2 percent to $11.706 billion from the $11.485 billion recorded a year ago.
PSA said total value of agricultural imports in 2024 reached $19.46 billion, representing a share of 15.3 percent to the country’s total imports last year. It was higher than the $17.91 billion recorded in 2023.
Agri damage due to storms, monsoon rains hits ₧1.84B
AWEEK of relentless rains and overlapping storms caused farmers to incur losses of over P1.84 billion, the Department of Agriculture (DA) said on Sunday.
The agency’s 9:00 a.m. bulletin showed that 59,749 farmers and fishers have been affected by the weather disturbances, with production losses reaching 43,689 metric tons (MT) across 55,181 hectares of land.
The latest figures from DA cover damage to rice, corn, cassava, high-value crops, livestock and poultry, fisheries and agricultural infrastructure.
“Further damage and losses are expected in affected regions as assessment and validation [are] ongoing,” the agency stated.
The damage reports came from regional field offices in the Cordil -
lera Administrative Region, Ilocos Region, Cagayan Valley, Central Luzon (Region 3), Calabarzon, Mimaropa, Bicol Region, Western and Central Visayas, Zamboanga Peninsula, Northern Mindanao, Davao Region, Soccsksargen and Metro Manila.
To support recovery, the agri -
culture department has committed P653.01 million worth of assistance, including seeds, planting materials, pesticides, free-range chicken, forage seeds and fingerlings. These will be distributed through regional field offices in the affected areas.
They also facilitated the release
of 43,940 bags of rice from the National Food Authority to local government units and social welfare offices in Palawan, Pangasinan, Albay and Region 3. In addition, a P400-million allocation under the Agricultural Credit Policy Council’s Survival and Recovery (SURE) Loan Program will offer up to P25,000 in zero-interest loans to affected farmers and fisherfolk, payable over three years.
The Philippine Crop Insurance Corp. has also earmarked P268 million for indemnity payouts to nearly 46,000 insured farmers.
The DA made an assurance that it continues to coordinate closely with local government units and disaster response agencies, and is monitoring price and supply movement of key agricultural commodities. Bless Aubrey Ogerio
PHL bags orders for cacao-based, coco products DTI
By Andrea E. San Juan @andreasanjuan
A22 -company Philippine delegation was able to secure $46.52 million in export sales at the recent THAIFEX-Anuga Asia 2025, according to the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB).
The Philippine pavilion named “Taste of the Philippines” housed 22 exporting firms that joined the delegation.
These exporters sold processed fruits, sauces and condiments, “ready-to-heat” meals, noodles, snacks, various beverages, dairy, bread, pastries and cacao-based goods.
According to the DTI, the Philippine kiosk at the Thailandbased food expo aimed to expand the global footprint of local food products by strengthening ties with international buyers and distributors. The expo, one of Asia’s largest food and beverage trade exhibitions, was held in Bangkok, Thailand.
Maria Emmanuelle Burgos, Commercial Counsellor of the
Philippine Trade and Investment Center (PTIC)-Bangkok, said the participation of the Philippine delegation helped the 22 firms gain insights that can beef up the country’s food sector.
“Thailand’s reputation as the ‘Kitchen of the World’ is wellearned, owing to its continuous investment in food production, processing, and packaging technologies. By continuously engaging with Thai institutions and experts, the Philippines aims to gather insights that can be adapted to strengthen our country’s food sector,” Burgos said.
DTI said the delegation engaged in “targeted” activities, including a seminar on advanced food packaging and printing trends, benchmarking visits to Thailand’s National Food Institute, and market sensing activities at local supermarkets, food halls, and a durian farm in Nonthaburi.
For his part, Kenneth Ochia, marketing manager for KLT Fruits Inc., one of the participating exporters, underscored the importance of “direct market exposure” at the Thai food expo.
“Joining Thaifex provided
cattle tally shows no end in sight
There were about 94.2 million cattle and calves in the United States as of July 1, the lowest mid-year count on record in data going back to 1973, the Department of Agriculture said in a report. The number of animals placed in feedlots for weight gain before being sent to slaughter plunged to the lowest since 2017, the USDA said in a separate note.
A severe shortage in the world’s largest beefproducing country has sent cattle costs soaring, wiping out billions in profits for companies such as JBS NV and Tyson Foods Inc., while driving record beef prices at grocery stores. For years, ranchers have been slashing their herds due to a combination of high interest rates, costly feed and persistent drought. But record cattle prices and improved pasture conditions this year are raising speculation that ranchers are moving to rebuild their herds--a move that is yet to be confirmed.
The latest USDA numbers offer “very
strong visibility for the exhibitors and has opened up valuable business opportunities for us.”
Other participating companies included Amley Corp., DMC Enterprise, Fly Ace Corp., Gem Foods International, Gerb Golden Hands Corp., Jamla Corp., KSK Food Products, Mama Sita’s, Mega Prime Foods, Miesto International Food Corp., Ngo Siok Marketing (Super Q), P. Togo Corp., Pearlfoods International, Philippine Grocers Food Exports, Pixcel Transglobal Foods, Q-Phil International Trading, and See’s International Food Manufacturing Corp.
The Philippine participation was organized through a joint effort by the Department of Trade and Industry, Department of Agriculture, PTIC-Bangkok, Philippine Exporters Confederation Inc. and Philfoodex Inc.
Coco products
THE DTI said the Philippines has also secured more than $8.13 million in confirmed and potential sales from range and quality coconut-based food products during its recent debut at TuttoFood Milano.
These coconut-based products, such as coconut oil, virgin coconut oil, coconut flour, beverages, and specialty food items, accounted for $2.25 million of total projected sales, highlighting sustained international demand for premium Philippine coconut offerings.
DTI Secretary Cristina A. Roque said in a statement that this outcome affirms the country’s strategic push into the European market.
“Our first successful participation at TuttoFood Milano clearly demonstrates how Filipino exporters can seize global opportunities. By providing the right platform, we empower them to connect with international buyers, gain critical market insights, and secure immediate and long-term export deals.” She said the mission also opened potential investment and technical partnerships, with the Philippine delegation engaging with 102 new potential business partners. Three exhibitors are now in advanced discussions with potential partners across Europe, the Middle East, and West Asia.
Metro Manila floods: A crisis of neglect and accountability
THE recent floods that devastated Metro Manila and nearby provinces, exacerbated by Typhoon Crising and the southwest monsoon, highlight a significant issue that has long been overlooked: the chronic flooding in Mega Manila and its underlying causes. The Metropolitan Manila Development Authority’s (MMDA) report of hauling over 76 metric tons of garbage from pumping stations and flood-prone areas reveals a grim truth—our waterways and drainage systems are clogged, neglected, and overwhelmed. (Read the BusinessMirror story: “Garbage worsens flooding in Metro Manila; MMDA hauls 76 tons from pumping stations,” July 23, 2025).
Garbage, especially plastics and bulky debris like old furniture and fallen trees, chokes the pumps and drainage canals, reducing their efficiency and damaging expensive infrastructure. MMDA Chairman Romando Artes’s acknowledgment that the drainage system is over 50 years old underscores the urgency for a comprehensive drainage master plan.
The flooding crisis is not merely a natural disaster—it is a man-made catastrophe. Uncontrolled garbage dumping, lack of urban planning, and insufficient infrastructure investment have combined with climate change-driven extreme weather to make Metro Manila and nearby areas vulnerable every rainy season.
It is frustrating to see the blame game unfold in the aftermath of floods. Tollway operators like Nlex Corp. are scapegoated for flooding on their roads, despite the root causes being overflowing creeks and rivers beyond their control. Despite facing public criticism for flooding on its roads—something beyond its control—Nlex Corp. remained committed to supporting its constituents and stakeholders. The toll operator provided drinking water and snacks to stranded motorists, distributed relief goods in affected communities, and deployed patrol and emergency teams to assist those in need. Meanwhile, government agencies tasked with disaster risk management and urban development continue finger-pointing instead of focusing on proactive, coordinated solutions.
The Filipino people deserve better than this cycle of knee-jerk reactions and temporary fixes. We need accountability from our leaders—not empty praise for “resiliency” that normalizes suffering. The real test is competent governance that prioritizes sustainable flood control measures: upgrading drainage systems, enforcing anti-dumping laws, rehabilitating waterways, and investing in modern pumping stations.
Veteran architect-urban planner Felino Palafox Jr.’s assertion that we saw this crisis coming decades ago raises a critical question: Why have we failed to act decisively? His blunt question—“Why do we still pretend we don’t know why Metro Manila floods?”—hits the mark. We have known the answers for decades. The best time to act was 50 years ago; the second-best was after the devastating Ondoy floods; the third-best time is now. The government annually allocates billions for flood control, yet the results are barely visible on the ground.
The floods in Metro Manila and in the regions are not just about water— they are about governance, accountability, and the future of our cities and municipalities.
The time for complacency is over. Metro Manila’s flooding is a crisis of neglect, poor planning, and lack of political will. We must demand a comprehensive, multi-sectoral approach that addresses both the symptoms and the underlying causes. Only then can we hope to protect our communities from the devastating impacts of floods—and finally turn our resilience into real, lasting strength.
Opinion BusinessMirror
Philippine business amid tariff challenges
WRISING SUN
E all know that doing business in the Philippines has always required resilience against both global and local challenges, but in 2025, these familiar headwinds have intensified into storms—literally and figuratively.
Let us begin with the mixed realities facing Philippine exporters after the recently concluded trade agreement between the Philippines and the United States. At first glance, the agreement appears positive—it preserves the Philippines’ access to the US market and avoids harsher trade penalties. However, beneath the optimistic public statements lie serious challenges for Filipino businesses. Specifically, a new 19 percent tariff has been imposed on many Philippine products exported to the US, making these goods more expensive and less competitive in the American market. For agriculture and manufacturing exporters who had hoped for exemptions or special treatment, most have been disappointed, as they
remain subject to these steep rates.
The significance of this situation is heightened by timing: many exporters are only beginning to recover from the economic setbacks caused by the Covid-19 pandemic. The new tariffs disrupt this fragile recovery, making it harder for exporters to grow or regain lost ground. Even after surviving past hardships, exporters now face a fresh and serious international business challenge.
To their credit, Philippine government negotiators did secure some favorable outcomes—certain products, such as electronics, continue to receive lower, “preferential” tariffs when exported to the US.
Yet even with these benefits, the effective average tariff rate (what
The truth is, a small country like ours has little control over Washington’s trade policies, but we can—and must—remain agile, guiding our businesses through external storms and always preparing for the challenges ahead. The enduring lesson for Filipino entrepreneurs is to play the long game: negotiate where possible, adapt as needed, and continue steadfastly building for the future, knowing that storms will eventually pass, but the Filipino enterprise endures.
exporters actually pay on average) remains slightly above 6 percent. While this may sound far lower than the 19 percent headline rate, for many exporters—already operating on very slim profit margins and contending with fierce global competition and rising shipping costs—this is still a substantial financial burden.
The economic implications are significant. Major analysts predict that these higher costs will slow Philippine export growth and reduce industrial production. In turn, this is expected to weaken overall economic growth.
As a result, the nation’s projected annual GDP growth is now about 5 percent. Although this may seem respectable, it is among the weakest in recent, non-pandemic years and is half a percentage point lower than previously projected. The impact of tariffs and related challenges is real and is likely to be felt throughout the economy.
Even so, I believe the current tariff situation will, in time, force Philippine businesses to do what they have always done best: adapt. Some are already working to diversify export markets, forging ties with non-traditional partners across Asia, Africa, and the Middle East, even as the government accelerates new incentives for both foreign investors and domestic manufacturers. The truth is, a small country like ours has little control over Washington’s trade policies, but we can—and must—remain agile, guiding our businesses through external storms and always preparing for the challenges ahead. The enduring lesson for Filipino entrepreneurs is to play the long game: negotiate where possible, adapt as needed, and continue steadfastly building for the future, knowing that storms will eventually pass, but the Filipino enterprise endures.
A covenant kept: PBBM’s presidency in progress
WLITO GAGNI
HEN President Ferdinand Marcos Jr. declared in his inaugural address, “The changes we seek will benefit all and will shortchange no one,” he was not merely offering a promise. He was laying down the yardstick by which his leadership invites scrutiny. It was both a vow and a challenge: judge me not by speeches, but by results.
And judged by that very lens, the record thus far speaks. Not with bluster nor bravado, but with steady hands on the tiller of a ship navigating choppy waters. In the shadow of global instability and domestic uncertainty, his actions—not his adjectives—declare where his heart lies: for the greater good.
In recent weeks, he has not governed from afar. He has gone to the ground. The President has walked the terrain, felt the pulse, and pushed forward critical initiatives. One vivid example: his inspection of the ongoing Malampaya drilling operations—a fly-by with meaning. That singular act symbolizes a clear message: energy security is not abstract policy; it is personal mission. And before that he had signed the
15-year extension of Service Contract 38, which governs the Malampaya operations, which ensured not just today’s stability, but tomorrow’s self-reliance. And in each move, he did not aspire for grandstanding, just groundwork.
Take, for example, the pledge to deliver rice at P20 per kilo—a promise many dismissed as fantasy. Yet under his administration, we are inching ever closer, overcoming bottlenecks with bold policy and political will. The pathway is not without stumbling blocks, but who can argue when the nation’s staple begins to touch that symbolic price?
Progress is not satisfied with a pause. No sooner had he addressed energy than he turned his gaze to another battleground—the daily grind
of the Filipino commuter. His decision to suspend the Edsa rebuild, though it was a major infrastructure undertaking, showed not indecision but discernment. He weighed the toll on public welfare—the agony of hours wasted on gridlock, the fatigue of workers who barely catch a breath before another workday begins. In that moment, he reminded the nation: progress must never come at the expense of the people’s peace.
And then, in Caticlan, another pivot. This time toward tourism, one of our country’s economic lifelines.
The President visited the soon-torise international airport—a gateway not just to Boracay but to new revenue streams, steady job creation, and a reinvigorated national image. The investment is strategic. With millions of local and foreign tourists flocking to this island paradise, the airport’s completion could very well define the next tourism renaissance.
But perhaps his most symbolically resonant act was also the most simple: he rode the train—with his family.
That short journey spoke volumes. That ride was more than symbolic.
By bringing his family with him— his wife, his children—the President did more than experience the daily routine of commuters. He allowed his family to feel it too. He turned governance into empathy, and public service into shared reality. That
trip became a moving tableau: a President not above his people, but among them. For every parent holding a child on a crowded platform, for every breadwinner counting coins to make it home, that gesture whispered, “We see you. We are with you.” First came the long-awaited deployment of the Dalian trains—long paid for, long neglected, and finally rolled out under his administration. For a decade, these trains sat idle, monuments to bureaucratic inertia. Now, they serve the people, doubling capacity and easing the burden of daily transit.
And then came the next move— not just efficiency, but empathy. Student fares, senior fares, PWD fares—slashed by 50 percent. A small gesture? Perhaps. But for those scraping by, it’s the difference between strain and survival. The checklist of action is growing. Quietly. Steadily. Without flourish or fanfare. But therein lies the power. Because in truth, the greatness of this presidency will not be measured in applause lines or trending hashtags, but in the lives it lifts, the burdens it eases, and the future it builds. And when the President said, “The changes we seek will benefit all and will shortchange no one,” he was not issuing a political pitch. He was laying down a covenant. And today, that covenant is being kept—not in words, but in works.
Antonio L. Cabangon Chua
Atty. Jose Ferdinand M. Rojas II
Challenge to the VAT on Digital Service Providers: A brewing trade dispute
TJoel L. Tan-Torres
DEBIT CREDIT
HE results of the Philippines-United States talks in Washington DC between President Donald Trump and President Ferdinand Marcos, Jr. have been released. The talks covered a whole spectrum of issues on defense and security, trade, investments, and aid.
Headlining the results is the announced reduction of the US tariff on Philippine exports to 19 percent from the starting base of 20 percent. However, the appropriate perspective in analyzing the US tariff situation is that the 19 percent represents a whopping increase from the 0 percent to 3 percent rates prevailing before the imposition of what is called the reciprocal tariff rates imposed by the US on countries at the onset of the “Liberation Day” mandated by President Trump in April 2025. On the other hand, US exports to the Philippines will be subject to 0 percent tariff.
Another trade-related issue being pursued by the US, which may or may not have been raised during the Trump-Marcos talks, is the foreign Digital Service Provider (DSP) Tax of the Philippines.
In 2025, the Philippines joined a growing list of countries imposing a Value-Added Tax on foreign DSPs. Starting on June 2, 2025, digital services consumed within the country will be subject to a 12 percent Value-Added Tax (VAT), following the signing of Republic Act 12023 and its implementing rules. The Bureau of Internal Revenue (BIR) issued Revenue Regulations 3-2025, RR 14-2025, and Revenue Memorandum Circular 47-2025 to implement the DSP law. While intended to modernize the tax system and collect taxes that were then frequently avoided from the digital economy, this tax may result in the Philippines being at odds with the US, a country that has consistently and aggressively challenged what it deems to be discriminatory taxation against US multinational tech giants.
The DSP tax is essentially an expansion of the 12 percent valueadded tax (VAT) to cover nonresident DSPs, a great number of which are US companies. These include companies offering streaming services (e.g., Netflix), online marketplaces (e.g., Amazon), advertising platforms (e.g., Google, Meta), cloud-based services (e.g., Microsoft, Amazon Web Services), and mobile apps and gaming services. Under the new law and regulations, nonresident DSPs are required to register with the BIR, file VAT returns, and remit the applicable tax. There is no differentiation in treatment between local and foreign DSPs.
The US government, through the Office of the United States Trade Representative (USTR), has repeatedly argued that taxes on DSPs, like the one implemented by the Philippines, are discriminatory and protectionist. In prior investigations, the USTR identified several features of such tax that disadvantaged US companies, which are mostly in the technology industry. These include disproportionate impact on US firms, revenue thresholds favoring non-US firms, market dominance of US DSPs, extraterritorial taxation, and non-neutral application. If the USTR determines the Philippine VAT on DSPs meets these criteria, it could initiate a Section 301 investigation— the same legal mechanism used in prior DST disputes. Since 2020, the US has launched multiple Section 301 investigations into tax imposed on US DSPs adopted by countries including: France, Italy, Spain, India, Turkey, Austria, the United Kingdom, and Canada.
WWhile the Philippines’ VAT on DSP is intended to modernize and increase tax revenue collection, its potential future impact goes beyond domestic tax policy. With the US maintaining a hardline stance against perceived tax discrimination, the country must brace for potential trade friction and weigh the fiscal benefits of the tax against the geopolitical and economic costs of a dispute with its largest trade and investment partner.
In most of these cases, the US concluded that these taxes on DSPs were discriminatory and authorized retaliatory tariffs or the threat thereof. These actions were temporarily suspended to give time for countries to address these perceived discriminatory taxes.
In the case of Canada, it passed a 3 percent tax on DSP in 2024, applying retroactively to 2022. The US swiftly challenged it and threatened retaliatory tariffs on Canadian goods. Under this pressure, Canada rescinded the tax in June 2025, just before its planned implementation, in exchange for restarting trade negotiations with the US. For India, it legislated a 6 percent equalization levy in 2016, later expanded to 2 percent for other digital services. The USTR deemed it discriminatory and initiated a Section 301 investigation. However, in 2021, India and the US struck a deal: the tax would be creditable against future OECD-compliant taxes, in exchange for suspension of retaliatory tariffs. These cases show two divergent responses: Canada repealed its DST, while India negotiated a transitional agreement pending multilateral reform.
The Philippines may be thrust into a similar position. With US tech giants operating at scale in the country and the new VAT regime disproportionately impacting these firms, the US will likely initiate a formal challenge sooner rather than later.
If this arises, possible outcomes include:
n USTR Section 301 investigation.
n Trade sanctions or higher tariffs to replace the 19 percent rate.
n Suspension of economic negotiations or aid.
n Pressure to repeal or reform the tax on DSP.
While the Philippines’ VAT on DSP is intended to modernize and increase tax revenue collection, its potential future impact goes beyond domestic tax policy. With the US maintaining a hardline stance against perceived tax discrimination, the country must brace for potential trade friction and weigh the fiscal benefits of the tax against the geopolitical and economic costs of a dispute with its largest trade and investment partner.
Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held various positions, including Dean of the University of the Philippines School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co., and SyCip Gorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant
Every Juan is no stranger to natural calamities. Due to the country’s geographical location, we get to experience annually around 20 typhoons, more than a hundred earthquakes (whether felt or not), and some volcanic activity every now and then. By sheer experience, our country should already know how to manage these recurring disasters from regularly displacing families and destroying communities.
Well-known and respected urban planner and architect Jun Palafox knew and made several suggestions to government, 50 years ago! Never a fan of band aid solutions and knee jerk reactions, Palafox, way back in the early 1970s, recommended a master plan for flood control, hazard mapping, sewerage and drainage, study on spillway options, among others.
Palafox explained that the dredging of Laguna Lake and the Parañaque Spillway were part of his recommendations but were never approved or were eventually stopped by previous administrations.
Palafox has been vigilant in helping government from the outside by submitting several recommendations to mitigate the effects of natural occurrences, the latest of which were given to President Marcos Jr., as early as May 23, 2022.
Fast forward to year 2025, we are still hearing the same stories of flash floods and evacuation centers that are ill-equipped if not ill-prepared. Whatever disaster risk reduction and response program coming from the National Disaster Risk Reduction and Management Council (NDRRMC), which the Office of Civil Defense (OCD) is implement-
Siegfred Bueno Mison, Esq.
THE PATRIOT
EATHERMEN call it as the Fujiwhara Effect—a weather phenomenon where two typhoons interact around each other causing heavier rains due to the southwest monsoon (habagat). Hence, the past week filled with flood-related challenges again tested the resilience of the Filipino.
ing, seems to be lacking every time a disaster hits the country.
People can put the blame on God for such “natural disasters.” In one television interview, when asked about the status of the relief and rescue operations, Assistant Secretary Bernardo Rafaelito Alejandro IV, the officer-in-charge of the OCD, mentioned that the enemy remains to be the typhoon, “act of God”. But, contrary to that assertion, Palafox said that such disasters are not acts of God but are due to the sins of omission of government officials. I agree with Palafox. The “enemy” in these disasters is not the weather nor God but corruption within government.
Baguio City Mayor Benjamin Magalong has publicly and repeatedly said that corruption in infrastructure projects can go as high as 70 percent. Yet, I see no congressional hearings or executive investigation from Congress or Malacañang.
Filipinos can face every storm and live to fight another day, but this kind of storm called corruption requires special attention.
Just about the time these natural occurrences moved past the Philippine area of responsibility, another but different and extraordinary storm rocked the country. In a 97page decision, the Supreme Court (SC) unanimous ruled that the impeachment process in the case of Vice President Sara Duterte was unconstitutional. A lot of lawyers have already weighed in on such gamechanging ruling. Former SC Justice Azcuna said that the decision may be legally correct but sees it as grossly unfair. He said that “by crafting a
The storm for all seasons Staunch, strategic,
By Henry Go
An unmet opportunity
Pnew definition of what constitutes being “initiated” and applying it to a complaint adopted in reliance on its previous and then prevailing definition”, the decision failed to apply to the Doctrine of Operative Facts.
Former SC Justice Carpio disagreed with some factual rulings about the commencement of the one year period. He also mentioned that the SC in requiring the House to present evidence together with the Articles is judicial overreach if not judicial legislation.
National Union of Peoples’ Lawyers (NUPL) President Ephraim B. Cortez opined that the Court’s decision, by “introducing requirements alien to the text of the Constitution and misconstruing the sequence of constitutional procedures, raises troubling implications for checks and balances and accountability under the 1987 Constitution.”
Of course, other lawyers and political analysts have expressed praises in the decision inasmuch as it disposes, albeit temporarily, an impeachment trial that has deeply divided the nation.
I have yet to fully read and analyze the decision. But the fact that it is unanimous and penned by a ponente (Justice Marvic Leonen), who remains to be one of the more respectable incumbent justices in the eyes of many legal practitioners, can only mean that the decision was thoroughly studied and analyzed from a factual and legal perspective.
Online chat groups are abound with calls for civil society to rise up in arms due to this seemingly constitutional crisis where the SC, the Senate, and the House of Representatives have marked differences in pursuing justice, truth, and accountability of public officials.
I admire how others look at the decision as just round one of a long boxing match to determine whether a public official would be perpetually disqualified to run for office given the weight of evidence to be presented in an impeachment trial.
My two cents in this conversation: One, respect the decision for it is the sole opinion that matters in this supposed controversy. Two, trust in the wisdom of our Almighty God who knows and controls all things. Believers are taught to stay calm in midst of any kind of storms in their lives. In anticipation of what we will face here on earth, Jesus said, “In this world you will have trouble. But take heart! I have overcome the world.” (John 16:33). There is no point in arguing against the SC; there is no point in taking the debate into the streets. The storm may affect us physically like the recent Fujiwhara Effect of the two recent typhoons or mentally in the minds of civil society brought about by the SC decision. The ultimate storm that disturbs us is not the conduct of men through act or omission, as pointed out by Architect Palafox or SC Justice Leonen. The storm lies within us—how we process the facts “as they are” and do the necessary things that are within our control. Both Palafox and Leonen simply pointed out that all of us are given the responsibility in our hands during these “storms”. Palafox recommended changes; Leonen wrote the decision. Either way, we should remain anchored on Psalms 107:29-31 when it said—“He stilled the storm to a whisper; the waves of the sea were hushed. They were glad when it grew calm, and he guided them to their desired haven. Let them give thanks to the Lord for his unfailing love and his wonderful deeds for mankind.” (Psalms 107:29-31). The younger me may do something radical against the conduct of people in government; the mature me is inclined to just focus on things I can control and let God calm the storm for all seasons.
Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations such as the Philippine Army, Integrated Bar of the Philippines, Malcolm Law Offices, a U.S. based software development company called Infogix Inc, University of the East, Bureau of Immigration, Philippine Airlines, SM Prime Holdings, Franklin Baker Company of the Philippines, and SONAK Corporation. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. Siegfred is a former soldier and a lawyer by profession, an educator and inspirational speaker by passion, and a book author, writer, and radio broadcaster with a mission.
and still shortchanged?
RESIDENT Ferdinand Marcos Jr.’s recent trip to Washington was historic—he was the first Asean leader formally invited by US President Donald Trump. Marcos aimed to use the visit to improve the Philippines’ trade terms before the August 1 deadline.
Despite the country’s strategic importance and support for America’s Indo-Pacific strategy, the outcome was underwhelming. The US offered only a modest 1 percent tariff reduction—slightly better than Vietnam’s, but far below expectations.
The question remains: Why hasn’t a close ally like the Philippines received more beneficial trade gains?
Why didn’t we gain more?
Vietnam and Indonesia provide a clear lesson. Their significant tariff concessions from the US came not just from alignment but from calculated economic and diplomatic decisions. Vietnam committed to wide-ranging trade liberalization and regulatory reforms, while Indonesia reportedly pledged to purchase 50 US commercial aircraft—clear, reciprocal gestures that demonstrated economic value. In return, they secured deeper market access and tariff reduction.
These examples show that real economic benefits come from clear and strategic offers—not just showing loyalty. In comparison, the Philippines has not made similar economic commitments. That’s why even a high-level visit by a strong military ally brought mostly symbolic results.
A moment to assert sovereignty through balanced diplomacy
During a press event, US President Donald Trump interrupted President Ferdinand Marcos Jr. and remarked, “I don’t mind if you get along with China… if it helps make the Philippines great again.” Although the
statement sounds supportive, it subtly reinforced the idea that the Philippines still need guidance from the US in developing its foreign policy.
However, this moment presents an opportunity for President Marcos Jr. to clearly and confidently assert that building warm diplomatic ties with China does not weaken the Philippines’ strong and historic alliance with the United States, but rather reflects a truly independent and balanced foreign policy anchored in national interest. Real sovereignty means making decisions that benefit Filipinos first.
Legal reality vs. political talk
TRUMP said, “The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs, but Philippines will pay a 19 percent Tariff.” This isn’t correct and doable.
According to World Trade Organization (WTO) rules—especially the Most-Favored Nation (MFN) rule—a country can’t give zero tariffs to just one partner unless there’s a formal trade deal. If one country gets a benefit, others must get the same, unless there’s a special agreement like a free trade deal.
Also, under Philippine law, such deals need to go through proper talks and be approved by Congress. Right now, there is no such agreement between the US and the Philippines. So, Trump’s statement is more of political talk and not enforceable.
Tariffs as a constant tool
THE fact is that whether it is a Dem-
ocrat or Republican that heads the United States, tariffs will remain an instrument of diplomacy and economics in its trade playbook. This is the reality that we must face. Therefore, to negotiate from a position of strength, the Philippines needs broad economic reforms to build a more sustainable and resilient economy— one that can join future trade talks with greater confidence and stronger bargaining power.
Unequal gains: Strategic concessions without economic return
WHAT is striking is the asymmetry: the Philippines provides increased US military access—through EDCA bases, missile sites, and a proposed ammunition storage facility in Subic—without much economic reciprocation. While Trump praised President Marcos Jr. as a “tough negotiator,” such commendation does ring hollow. This growing disparity raises a critical question: Are we making strategic use of our alliances, or simply giving more while receiving less?
Recalibrating the strategy TO translate friendly words into actual dividends, the Philippines should insist on tangible returns. State visits and public commendations are pleasant, but they should be translated into definite outcomes — such as improved trade arrangements, more equitable tariffs, technology transfer, direct investment in infrastructure, and meaningful assistance to upgrade our industries and agriculture. But are we prepared to take that role? As we dispatch high-level delegations overseas and enjoy global recognition, we tend to lack the courage and planning to expect outcomes. Leaders still persist with a
post-colonial mentality—looking for validation rather than parity. It’s time to change course. We must match our strong defense ties with the US with economic gains that benefit our people. True sovereignty means knowing our worth and negotiating as partners.
Economic diplomacy requires political will ENHANCING our economic diplomacy is not about establishing more government offices. It’s about possessing political will and credible leadership to actually employ current tools well. We need leaders who think long-term—implement clear, consistent policies and prioritize the Filipino people above all else. Only then can the Philippines transition from a symbolic ally to an esteemed middle power in the IndoPacific—admired not just for loyalty, but for strength.
Conclusion: Time for real results WORDS of praise and pledges do not provide employment, infuse the economy with money, nor better people’s lives. What we require are concrete inputs which will lead our country forward. We can be friends to many countries, but we must protect our sovereignty at all times and ensure that we receive something of value in exchange. It is not enough to be a “reliable ally” if we remain behind in trade and in progress. We possess so much strength—our geostrategic position, our democracy, and our people. But we must have bold, strategic leadership to translate those into actual advantages.
If we truly aim to “make the Philippines great again,” then we must act like a great country—diplomatically confident, economically strong, and never afraid to demand fairness.
Monday, July 28, 2025
BusinessMirror
PHL manufacturers bare 12 policy priorities, trade reforms
By Andrea E. San Juan
THEFederation of Philippine Industries (FPI), the umbrella organization of manufacturers and producers in the country, is prodding lawmakers to prioritize the implementation of reforms that would strengthen domestic manufacturing and reinforce fair trade practices in the 20th Congress.
In a statement at the weekend, FPI listed six industry policy priorities and six trade and enforcement reforms.
Among the industry measures of the industry group is to implement the Tatak Pinoy Act “effectively,” with proper funding and the establishment of a multi-sectoral Tatak Pinoy Council to guide and monitor industrial development.
Another reform that should be fast-tracked is the “rollout” of CREATE MORE to ensure “timely and fair access to incentives for both domestic and export oriented manufacturers.”
FPI also underscored the need to
enforce “full compliance” with Philippine National Standards (PNS) across all ports of entry and markets, ensuring that imported and local goods meet local safety and quality requirements.
The industry group also prodded lawmakers in the upcoming Congress to advance a green industrial policy that accelerates the development and adoption of “low-carbon” technologies across manufacturing, energy, transport, and infrastructure.
“Promote clean production systems and circular economy models, while ensuring access to transition
financing and regulatory incentives that enable innovation, competitiveness, and environmental resilience,” the group noted.
Also included in FPI’s industry reform recommendations to the government is to implement a “Local Preference Procurement Law.”
This measure, the industry group said, mandates “prioritizing government procurement of locally manufactured, mandating PNScompliant products, especially in infrastructure, construction materials, and essential public goods.”
As for trade and enforcement reforms, FPI emphasized the need to enact a Comprehensive Anti-Smuggling Law, including the creation of a Public-Private Task Force reporting to the President, port digitization, and enhanced customs profiling tools.
The umbrella organization of manufacturers and producers in the country also pointed out the need to strengthen trade remedy mechanisms to allow for faster and more effective implementation of safeguard, anti-dumping, and countervailing duties, including the use of “provisional measures” during investigations.
Further, FPI highlighted the need to adopt a “balanced and strategic”
tariff policy, including periodic reviews and pre-liberalization impact assessments for sensitive sectors.
Another trade and enforcement reform it deems important is the need to “institutionalize” a trade and industry defense system to provide real-time monitoring and response to import surges and “unfair” foreign competition.
In resolving “unjustified delays, harassment, and regulatory inconsistencies encountered by investors,” FPI urged the government to establish an “Independent Investment Ombudsman,” which should be done in coordination with relevant agencies such as the Department of Trade and Industry (DTI), Fiscal Incentives Review Board (FIRB), the Board of Investments (BOI), Department of Finance (DOF), and local government units (LGUs).
FPI also urged the government to implement e-Governance reforms, including full digital integration of trade facilitation, permitting, and regulatory processes across agencies “to eliminate red tape, improve transparency, and deter corruption.”
FPI represents key sectors across the economy. It “advocates” for fair competition, sound industrial policy, and a “resilient” manufacturing base to support national development.
THE local semiconductor and electronics industry, the top exporting industry of the Philippines, said the 19-percent country-specific tariff rate places the Philippines as the “second most competitive” among its regional peers.
In a statement at the weekend, Seipi said:
“We, in the Semiconductor and Electronics Industries in the Philippines Foundation Inc. [Seipi], welcome the recent developments that reaffirm the Philippines’ strong and growing position in the global semiconductor and electronics value chain.”
The 19-percent country reciprocal tariff rate slapped on Philippine exports to the US, coupled with the country’s “unique strategic advantages and favorable trade policies, especially in contrast to Asean peers, positions the Philippines as an increasingly compelling destination for foreign direct investments [FDIs],” it added.
Equally significant, the local semiconductor and electronics industry group noted, is the $15-million capital which Washington vowed to pour into the Luzon Economic Corridor. This, it said, will enhance industry capacity for one of the “most critical sectors” in the country.
“This commitment will further enhance infrastructure and industry capacity, accelerating innovation and expansion in one of our most critical sectors,” the Seipi statement said.
Beyond these economic incentives, it said the Philippines continues to benefit from its “enduring partnership” with the United States.
“Our shared values, deepening strategic cooperation, and ongoing efforts to strengthen bilateral ties are sending a clear and positive signal to investors,” the industry group underscored. With this “momentum” and continued collaboration with international partners, Seipi
expressed confidence that “The Philippine semiconductor and electronics industry is brighter than ever.” Earlier, Seipi Chairman Norberto Viera told this newspaper in a text message that opening the Philippine market to the US may be beneficial for the local semiconductor and electronics sector as it would enjoy lower prices for imported equipment and some raw materials.
“Of course, we will get lower price equipment and materials. This will help our industry,” the Seipi chairman said. Viera said these materials are used for the local industry’s Assembly, Test, and Packaging
the country’s largest organization of foreign and Filipino electronics companies in the Philippines expressed hope that the zero tariff on imported goods from the US would help spur the semiconductor and electronics shipments for this year.
“This just confirms that our industry will not be impacted by the tariff. Our
electronics-industry/).
Data from the Philippine Statistics Authority (PSA) showed electronics export receipts reached $39.08 billion in 2024. This is equivalent to 53.38 percent of the country’s $73.21-billion export earnings last year. Andrea E. San Juan
By Reine Juvierre S. Alberto @reine_alberto
THE newly enacted Capital Market Efficiency Promotion Act (CMEPA) is the government’s deliberate move to reshape how Filipinos manage their finances—a shift from traditional savings to long-term investment instruments, according to an economist. In an online forum, Ateneo de Manila University economist Alvin P. Ang said the law is a “behavioral shift” meant to steer Filipinos from being consumption-driven and conservative savers to long-term investors.
“We’re too limited to savings and time deposits. There are still other options that can give us bigger returns,” Ang said, adding that this is a push for those who have resources not to be conservative.
Although it is understandable for new savers and investors to be conservative, Ang said that eventually, they need to think long term, such as for retirement and other goals, noting that basic bank products will not be enough to grow money significantly.
“Filipinos in general are risk-takers but also risk-averse when it comes to their money. We have this problem with online gambling,
and that is risk-taking. Why [is it that] when it comes to spending, we are also risk-takers? When it comes to saving, we’re conservative?” Ang wondered aloud. According to the 2021 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas, only 8 million out of 77 million Filipino adults own investment products. This is equivalent to one out of every 10 Filipinos.
“[CMEPA is] an act to boost our capital markets and allow for greater participation, especially among ordinary Filipinos. Investing is now not just for the rich, but is for every Filipino who dreams of financial security and a better future, who can now achieve that by diversifying their savings and investments,” Finance Secretary Ralph G. Recto
Editor: Jennifer A. Ng
BEC aiming to deploy more charging stations for EVs
By Lenie Lectura @llectura
BASIC Energy Corp. (BEC) is hopeful that its subsidiary, Basic Energy Renewables Corp., will be able to seal a deal next month with a leading electric vehicle (EV) charging company to deploy EV charging stations at select service stations.
“We’re now actually in discussions and I can’t disclose who based on confidentiality agreements, but we’re thinking of partnering with someone to help us co-develop and co-create survey EV charging stations in our sister brands,” said company president and CEO Oscar de Venecia.
one more pilot in Cainta. I think we stopped for a while because we’re changing the equipment and everything. Those were the first few,” de Venecia said.
The EV charging stations that the company envisions will support both private EV users and public EV vehicle fleets.
BEC is a renewable energy (RE) firm aiming to build one-gigawatt (GW) capacity by 2030.
is scheduled for commissioning by the second half of 2028. The company is also undertaking pre-development activities for the 194-MW Panay wind energy project in Iloilo and Antique.
Last week, the company said it will spend an initial P300 million on the pre-development of solar and wind projects.
‘Tariff talks bode well for PHL auto industry’
By Andrea E. San Juan @andreasanjuan
Its solar projects include th 60.5-megawatt peak (MWp) Mariveles Solar Power Plant in Bataan, the 43.41-MWp Cadiz 1 Solar Power Plant in Negros Occidental, and the 46.993-MWp solar project in Pangasinan.
In the pipeline are three solar power projects and two nearshore wind power projects.
The Department of Energy (DOE) awarded BEC in 2023 two wind service contracts. For solar, BEC is actively negotiating and pursuing solar project sites.
TIn 2023, BEC has piloted an EV charging station along EDSA in Mandaluyong.
“That’s a pilot station, and there’s
The possible partner, he said, is a local firm with technical expertise in the field of EV. “We’re in discussions right now. Hopefully, we can finish within a very near future, within the next month or so.”
It is in pursuit of three more solar power projects with a combined capacity of around 150 megawatts (MW).
For wind power projects, BEC’s 50-MW Mabini wind energy project
“We actually were able to secure last 2023 two service contracts with the DOE . It’s in Ilocos and Batangas. We call nearshore. It’s still offshore, but not that far away that why it’s considered nearshore,” said de Venecia.
TFH asks Pinoys to build mini apps
By Lorenz S. Marasigan @lorenzmarasigan
GLOBAL identity and tech -
nology firm Tools for Humanity (TFH), a company co-founded by Sam Altman, is turning to Filipino developers to create localized applications within its World App platform, aiming to make the app more relevant and useful for everyday life in the Philippines.
Tiago Sada, TFH’s Chief Product Officer, said the company is encouraging developers to build mini-apps—third-party applications integrated into World App—that cater to the unique needs of Filipino users.
“We are encouraging Filipino developers to build use cases that are particularly relevant to Filipi-
LAST WEEK
SHARE prices went up, with the main index returning to the 6,400-point level, mainly on bargain hunting, despite the onslaught of typhoons and monsoon rains that ravaged parts of the country.
The benchmark Philippine Stock Exchange index rose 109.46 points to close at 6,413.18 points.
“Trading last week was tepid implying that the climb did not have strong conviction. Fundamentals-wise, the local market remains undervalued, closing the week with a PE [price to earnings] ratio of 11.1 times. This is below its five-year historical and regional average, both which are at 17.3 times,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said.
Average daily trading for the week reached P5.46 billion. Foreign investors, who cornered just 36 percent of the trades, were net buyers at P340.15 million. Other sub-indices also closed higher, led by the broader All Shares index that gained 60.59 points to close at 3,796.87 points, the Financials index rose 34.65 to 2,252.93, the Industrial index was up 65.91 to 9,149.94, the Holding Firms index added
nos,” he said in an interview over the weekend. “(We want to) explore how proof of human can help build a safer, more inclusive internet for Filipinos in the age of AI.”
He noted that with a young, digitally savvy population and a growing middle class eager for new technologies and financial tools, World App’s Mini Apps ecosystem “is quickly gaining traction.”
“We’re happy to collaborate with local developers and technologists to build new Mini Apps--created by Filipinos, for Filipinos.”
Sada said the company is putting premium on use cases that address pressing local issues such as online scams, which remain pervasive across social media and messaging platforms.
“What we’ve heard so far is that
95.06 to 5,476.28, the Property index climbed 11.56 to 2,377.56, the Services index surged 106.38 to 2,236.07 and the Mining and Oil index increased 271.07 to 9,411.98. For the week, gainers led losers 133 to 86 and 33 shares were unchanged.
Top gainers were Imperial Resources Inc., Top Line Business Development Corp., Asia United Bank Corp., Anchor Land Holdings Inc., GEOGRACE Resources Philippines Inc., DigiPlus Interactive Corp. and Roxas and Co. Inc. Top losers, meanwhile, were LMG Corp., DFNN Inc., Citystate Savings Bank Inc., PetroEnergy Resources Corp., Paxys Inc., Xurpas Inc. and Coal Asia Holdings Inc.
THIS WEEK
SHARE prices may fall as investors await fresh leads that will encourage them to buy.
“Investors will be looking forward first to President Ferdinand Marcos Jr.’s State of the Nation Address [SONA]. Detailed plans on how to keep inflation low and how to re-accelerate economic growth may boost investors’ sentiment,” Tantiangco said.
“Investors are also expected to watch out for the upcoming second quarter corporate reports. Robust results are expect-
online scams are very prevalent in the Philippines. We want to develop very specifically apps that prevent scams whether on phone calls or social media.”
He pointed to World ID’s verification system as a potential safeguard for financial transactions and identity-sensitive activities, such as e-commerce and digital banking.
Sada noted that TFH has been in active discussions with the Department of Information and Communications Technology (DICT) for more than a year and is collaborating with local digital privacy advocacy group National Association of Data Protection Officers of the Philippines (NADPOP) to strengthen security measures for Filipino users.
He said that TFH has already seen “some form of success” with the
ed to lift the local market.”
Investors may also watch out for the upcoming S&P Global Philippines Manufacturing PMI for clues on the local economy.
Broker 2TradeAsia said the country continues to reel from consecutive July typhoons, with the most recent Typhoon Emong displacing 300,000 persons and affecting millions, exacerbating agricultural losses estimated at P454 million, particularly in rice and vegetable baskets in Luzon.
“While rice prices may stabilize due to imports, other food indexes could push the inflation print for the remainder of third quarter, and an additional stress to disrupted consumer confidence,” it said.
“The week ahead demands balancing portfolio resilience against global and local headwinds. We reiterate our call to prioritize high-liquidity, domestically focused value stocks to navigate near-term risks while capitalizing on BSP’s [Bangko Sentral ng Pilipinas] supportive policy. In these trying times, stay vigilant for potential pivots into hedge plays should inflation surprise.”
Chartwise, the local market was able to re-establish support
memoranda of understanding signed with the governments of Taiwan and Malaysia.
Taiwan will be using the technology for secure polling to prevent vote manipulation, while Malaysia is considering integrating World ID with its national ID system and exploring the local manufacturing of TFH’s Orb devices.
The Orb is a device that enables individuals to verify their humanness and uniqueness, a key feature in building digital resilience amid rising concerns over artificial intelligence, bots, and deepfakes.
World App, part of the Worldcoin ecosystem, has already attracted 14 million registered users globally and 30 million across all TFH services.
at 6,400. However, it is having a hard time securing position above its 200-day exponential moving average. Major resistance is seen at 6,600, Tantiangco said.
STOCK PICKS
MAYBANK Securities has downgraded its rating on the country’s gaming sector to neutral from positive, after various stakeholders voiced their concerns on the negative effects of online gambling amid its exponential rise.
“In light of these developments, leading e-games company DigiPlus Interactive Corp. faced a steep drop in share price, falling by as much as 79 percent from its peak,” it said.
“We mapped out the stances of key stakeholders and assessed the likelihood of an online gaming ban. While it remains a possibility, in our view, we think that heightened regulation instead of an outright ban is the more sensible choice.”
The broker, however, kept its hold rating on Bloomberry Resorts Corp.
“We anticipate that President Marcos Jr’s SONA on July 28 will provide that clarity,” it said.
DigiPlus shares closed last week at P27 apiece, while Bloomberry was last traded at P4.44 per share. VG Cabuag
HE entry of other US-made cars into the Philippines at zero tariffs will not threaten the local auto industry as these vehicles cater to a different market, according to the chairman of the GT Capital Auto and Mobility Holdings, Inc. (GTCAM).
On the sidelines of the Auto Parts & Vehicles Expo (APVE) 2025 Philippines, Vicente Jose S. Socco, chairman of GTCAM told reporters that opening the Philippine automobile market to America would not affect the local production of vehicles in the Philippines.
“We already have the American brands present here. These are Chevrolet, GM, Ford, Jeep are already present here. But for the most part, they’re sourcing their vehicles from Asean--Thailand or Indonesia where it’s already zero tariff,” Socco told reporters last Friday in Pasay City.
He also noted that it will not be cost-effective to source cars from the US as importers would incur higher logistics and shipping costs.
As the four American brands are already in the country, Socco said he expects importers to continue sourcing these vehicles from Asean countries, treating the region as their primary base.
However, he noted that with the zero tariffs, America can introduce more models because there are also
completely built units (CBUs) which are not produced in the Asean region and which the US may opt to bring into the Philippine market. This, Socco said, is good for Filipino consumers.
For Toyota Philippines, the GT Capital official said the expected entry of imported vehicles from the US is not a threat to the leading automotive brand, saying they belong to a different market category.
“I think it’s in a separate market representation because they usually have big vehicles, big engines in the US. And as you know, in Toyota, we’re more mid-sized to large but not in the same range,” Socco also told reporters.
“We always see increased participation as an opportunity because when demand is stimulated, that means all participants can compete for that demand. So, it’s a good thing to be able to stimulate demand.” In securing the 19-percent country reciprocal tariff with the US, Manila’s negotiating team had to offer certain goods to Washington that may enter the Philippines at zero tariffs. These include automobiles, soy products, wheat products, and medicines, among others.
According to the website of GT Capital Holdings Inc., the Philippine conglomerate holds interests in the automotive industry primarily through its 51-percent direct ownership in Toyota Motor Philippines.
THIS BusinessMirror file photo shows workers assembling a car in a factory in Santa Rosa, Laguna.
Banking&Finance
Govt pressed to increase health taxes amid deficit
By Reine Juvierre Alberto @reine_alberto
HE Marcos Jr. administration
Tis pressed to raise health taxes aimed at financing healthcare and human capital development amid mounting debt and a widening fiscal deficit.
Lobby group Action for Economic Reforms (AER) is calling on the administration to adopt sound revenue-generating measures that are “bold yet urgent,” considering the country’s “serious fiscal problem.”
Taxing alcohol and sweetened beverages could help fund development goals, generate significant government revenues and promote better health outcomes, according to the nongovernment organization of economists.
The group issued the call a day before President Ferdinand R. Marcos Jr. issues his fourth State of the Nation Address (Sona) on July 28.
“This is President Marcos’ opportunity to restore public trust at a time that his political support has waned in the last half of his term,” the AER said.
However, Finance Secretary Ralph G. Recto maintained his department neither is keen nor plans to tax alcohol and sweetened beverages. Recto said earlier that he is not inclined to consumption-based taxes, despite previous proposals to put in place such a measure along with taxing junk foods.
In June 2023, the Department of Finance (DOF)—then led by Benjamin E. Diokno—and the Department of Health proposed a tax on sweetened beverages, which will increase the current rate to P12 per liter regardless of the sweetener used.
The measure would generate an additional P76 billion in revenues for the government during the first year of its implementation, according to Diokno.
Still, the DOF remained firm in its “no new taxes” stance, given the gov-
ernment’s “robust” fiscal position.
The lobby group AER thinks otherwise.
“The Philippines faces mounting fiscal pressure due to an increasingly constrained budget, growing public expenditure needs, stagnating tax revenues, and increasing public debt,” it said.
Revenue efforts of the government have “fallen short” over the past few years, which resulted in an elevated fiscal deficit, the group’s statement read.
The country’s budget deficit widened to P765.5 billion in the first half of the year, after government expenditures reached P3.025 trillion and outpaced revenue collections at P2.260 trillion. (See: https://businessmirror.com.ph/2025/07/25/ fiscal-gap-breaches-limit-at%e2%82%b1765-5-billion-inh1).
Meanwhile, the government’s outstanding debt reached a new record-high of P16.752 trillion as of end-April, an 11.56-percent increase from P15.017 trillion in the same period last year.
The AER cited the government’s “rising” debt service bill, which went up by 73.72 percent to P280.898 billion, exerting “additional pressure on the country’s limited fiscal space.”
These fiscal pressures have a constraining effect on critical investments, particularly in human capital development programs such as quality healthcare, according to the AER. Raising health taxes, such as those on alcohol and sweetened beverages, would be beneficial for the government, as this could help rebuild fiscal space by increasing tax revenues to fund existing health and nutrition programs, AER said. “At the same time, raising health taxes discourages consumption of products that contribute to noncommunicable diseases [NCDs] like cardiovascular disease, diabetes, and cancer—the country’s leading causes of death,” read the AER’s statement.
Max deposit insurance now covers 147M accounts–PDIC
By Cai U. Ordinario
@caiordinario
THE increase in the maximum deposit insurance coverage (MDIC) to P1 million now covers 147 million accounts as of December 2024, according to the Philippine Deposit Insurance Corp. (PDIC).
A statement issued by the PDIC read the latest figure is higher by 1.5 million accounts covered under an MDIC of P500,000. The agency also said the higher MDIC now covers 98.6 percent of all deposit accounts, higher than the 97.6-percent coverage under the lower MDIC.
“It’s a timely move given that limits have not been increased in years,” said Bankers Association of the Philippines (BAP) President Jose Teodoro K. Limcaoco.
In terms of amount, based on the same PDIC data as of end-2024, insured deposits will increase to P5.3 trillion, higher by P1.3 trillion compared to the amount of insured deposits for the same period, if the MDIC remained at P500,000 per depositor.
The new MDIC now covers 24.1 percent of total deposits, compared with 18 percent at the previous MDIC of P500,000.
“This move reinforces trust in the banking system, especially for senior citizens and retirees who rely on deposit security,” Chamber of Thrift Banks (CTB) President Mary Jane A. Perreras was quoted as saying in the statement.
The new MDIC was welcomed by both banks and depositors, two key stakeholder groups of the PDIC. Prior to the effectivity of the new MDIC, PDIC conducted consultation meetings with the country’s major bank associations and officials of these associations expressed support for
Banks expected to tighten credit standards–BSP data
By Cai U. Ordinario @caiordinario
BANKS are expected to tighten credit standards in the third quarter, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
Based on the BSP’s second quarter 2025 Senior Bank Loan Officers’ Survey (SLOS), there was a net tightening of 5.4 percent for loans to enterprises and 5 percent for loans to households.
However, these were lower percentages compared to the second quarter when there was a net tightening of 14.3 percent for loans to enterprises and 12.5 percent for loans to households.
“Under the diffusion index approach, this indicates that any future change is more likely to be a tightening than a loosening,” read a statement issued by the central bank.
The BSP defines credit standards as referring to credit scores, income
Pagcor
sends
Tthe new MDIC.
The expanded protection at P1 million promotes increased depositor confidence in the banking system without entailing an increase in the assessment being levied on banks.
“This further strengthens public confidence in the banking system, and comes at no extra cost to insured banks, thereby allowing them to attract more private investment in the form of savings,” Rural Bankers Association of the Philippines (RBAP) President Jose Paolo M. Palileo said.
PDIC said the increase in the MDIC was approved by the PDIC Board of Directors, in accordance with Republic Act No. 3591. This authorizes the PDIC Board to adjust the MDIC to an amount indexed to inflation or in consideration of other economic indicators as appropriate.
This marks the first independent adjustment in the MDIC by the PDIC, following recent amendments to the PDIC Charter. The latest MDIC increase is the first in history to no longer require approval from Congress, enabling more timely responses with respect to deposit insurance.
The decision to double the MDIC was based on a methodology recommended by the World Bank to restore the value of the MDIC set in 2009, which has been diminished by inflation. Prior to the increase last March, the MDIC was P500,000 per depositor, per bank.
The adjustment in the MDIC is a proactive measure to reinforce confidence in the Philippine banking system and contribute to financial stability. The higher MDIC will not only protect and secure more depositors’ savings, but more importantly, will help stabilize deposit movements, maintain liquidity in the banking system, and prevent any possible panic-based runs.
requirements, collateral, loan size, interest rate and repayment period.
The diffusion index (DI) approach, a positive DI for credit standards, indicates that the proportion of respondent banks that have tightened their credit standards exceeds those that eased or “net tightening.”
A negative DI for credit standards indicates that more respondent banks have eased their credit standards compared to those that tightened or “net easing.”
Based on the SLOS, 91.1 percent of banks said they will likely keep their lending standards for enterprises the same in the third quarter, compared with 82.1 percent in the second quarter.
Further, about 85 percent of
banks are expected to maintain their lending standards for households from 82.5 percent in the same review period.
Meanwhile, in terms of loan demand, some 75 percent of respondents reported steady loan demand in the second quarter relative to the first quarter.
Another 5.4 percent reported lower loan demand from firms and 19.6 percent indicated higher loan demand.
In the next quarter, BSP data showed 71.4 percent of banks said they expect loan demand from businesses to stay the same.
Only 1.8 percent of banks said they expect a decline and another 26.8 percent expect to see an increase in borrowings in the third quarter.
For households, the BSP said 77.5 percent of respondents reported that households’ credit demand was unchanged in the second quarter relative to the first quarter.
Another 10 percent of banks reported lower loan demand among Filipinos while the remaining 12.5 percent indicated an increase in loan demand.
In the next quarter, some 72.5 percent of the respondents expect
loan demand to stay the same while 27.5 percent expect loan demand to rise.
“No bank expects to see a decline in households’ credit demand in the third quarter,” read the BSP’s statement.
Earlier, loans secured by consumers drove bank lending to doubledigit growth in May 2025, according to the latest data released by the BSP. BSP data showed outstanding loans from universal and commercial banks (U/KBs) grew 11.3 percent in May 2025, faster than the 11.2 percent posted in April 2025.
Rizal Commercial Banking Corp.
Chief Economist Michael L. Ricafort saw the pace faster than the average of 10.8 percent since 2003 and the 7.7-percent average since the height of the pandemic. Ricafort said the 29.4-percent growth in credit card loans and 18.2-percent growth in motor vehicle loans reflected the country’s demographics, which also made the Philippines one of the fastestgrowing economies in the region.
HE Philippine Amusement and Gaming Corp. (Pagcor) announced it has released over P30.41 million worth of food and nonfood aid to communities devastated by the recent onslaught of heavy rains and floods in the country.
The state gaming agency reported that as of July 26, a total of 33,250 relief packs consisting of 17,000 food packs and 16,250 non-food items have been released to local government units (LGUs) in Metro Manila and nearby provinces.
“As millions in Metro Manila and other provinces suffer from torrential rains and floods triggered by the southwest monsoon and tropical storms, we quickly mobilized our relief operations teams,” Pagcor Chairman and CEO Alejandro H. Tengco was quoted in a statement as saying.
“As the government’s partner in nation-building, we are morally- and duty-bound to come to the aid of Filipinos in times of need, and that includes being one of the first responders when calamities strike,” Tengco added.
The LGUs that received relief assistance from Pagcor included those in Batangas, Bulacan, Cavite, City of Manila, La Union, Laguna, Marikina City, Occidental Mindoro, Parañaque City, Quezon City, and Rizal.
According to the National Disaster Risk Reduction and Management Council’s latest report, the recent severe weather events have affected 5.29 million people or 1.46 million families across 17 regions.
The Pagcor said the distribution of relief goods was facilitated through the agency’s Imus and Angat warehouses in coordination with LGUs and logistics partners.
The agency added it also extended support to partylist groups by providing relief goods for distribution to affected constituents.
“Our relief operations are ongoing and will continue in the coming days as we aim to reach out to more communities affected by the recent calamities,” Mr. Tengco said.
“Hopefully, we would be able to bring not just food and other essentials but also much-needed hope and support.”
Scams, mule accounts dominate fraud concern—poll
ABy Rizal Raoul S. Reyes @brownindio
N industry poll by data analytics company Fair Isaac Corp. (NYSE: FICO) has found that scams and mule accounts have become the dominant threat facing banks across Asia Pacific.
A statement issued by FICO read that seven in ten (69 percent) senior banking executives identified these forms of criminal activity as their greatest concern, “reflecting the continued rise of scams in which victims are tricked into sending money directly to criminals.”
“Unlike traditional fraud, which typically involves unauthorized transactions that banks can detect and block, scams often bypass existing defenses because payments are authorized by the victim,” read the statement issued by FICO on July 24.
“Once the money is sent, criminals rely on mule accounts to quickly move funds across institutions and borders, making re -
covery extremely difficult.”
The company said its findings “echo a growing alarm across the financial ecosystem, as scam-related losses reach historic highs across the region.”
According to FICO, Singapore reported in 2024 of more than S$1.1 billion ($860 million) in scam losses, a 70-percent surge from the previous year. Thailand saw 60 billion baht ($1.7 billion) in damages, while Malaysia’s losses were estimated at a staggering RM54 billion ($12.78 billion), or nearly 3 percent of gross domestic product.
Similar trends were reported in the Philippines and Indonesia, where scam-related activity now dominates cybercrime reports.
The poll found that more than half of banking leaders (52 percent) view social media platforms as the top external threat vector for scams, followed by messaging apps (35 percent). In a region with more than two billion social media users, platforms such as Facebook, TikTok, and Telegram have become key channels for
targeting scam victims and recruiting money mules.
Criminal syndicates use these platforms to impersonate officials, promote fake investments, or advertise bogus job opportunities. Many victims are lured into schemes that appear legitimate on the surface, while others are convinced to “rent out” their accounts in exchange for quick cash, not realising they are enabling financial crimes.
In Thailand, more than 200,000 mule accounts were shut down in a single year. Singapore has introduced legislation that criminalises the supply of mule accounts and gives banks and authorities powers to act in real-time.
The poll also found that banks are struggling with internal barriers that limit their ability to detect and respond to scams. The most common issue cited was siloed data (46 percent), followed by a lack of connected insights across products and channels (28 percent), and limited real-time integration with third-party systems (13 percent).
“Scam activity is often fast, fluid, and fragmented,” said Dattu Kompella, managing director of Asia Pacific for FICO. “To respond effectively, banks need connected systems that provide a complete, real-time view of risk. Without breaking down internal silos and unifying insights across teams, many institutions will remain on the back foot.”
The poll also explored bank leaders’ views on reimbursing scam victims. Just 14 percent said banks should fully reimburse customers in all scam cases. Half said compensation should only apply when the bank is at fault, while 36 percent supported a shared responsibility model between banks and customers. FICO conducted the poll during its “Asia Pacific Fraud Forum” in June, drawing insights from more than 40 fraud and risk executives from financial institutions across the region.
FRANCE TIPS THE BALANCE: Palestinian statehood gains a G7 ally
By John Leicester The Associated Press
PARIS—France’s bold decision to recognize the state of Palestine could help to shift conversations about the future of the Middle East, even if it’s unlikely to have an immediate impact for people in Gaza or on Israel’s war with Hamas.
In a world where nations are again using military force to impose their will on others—notably Russia in Ukraine, and the US and Israel with their recent strikes on Iran and its nuclear facilities— French President Emmanuel Macron is attempting to strike a blow for diplomacy and the idea that war rarely brings peace.
With less than two years left of his second and last term as president, Macron also has his legacy to think about. Not acting decisively as a humanitarian disaster unfolds in Gaza could be a stain when history books are written. Macron has levers to influence world affairs as leader of a nuclear-armed, economically and diplomatically powerful country that also sits at the big table at the United Nations, as one of the five permanent members of its security council.
Being the first member of the G7 group of industrialized nations to take this leap carries
domestic risks. Presiding over a country with both Europe’s largest Jewish population and largest Muslim population, Macron is on a public opinion tightrope. His words will please some voters but infuriate others—a fact reflected by deeply divided political reactions in France to his decision announced on X on Thursday evening.
But after staunchly backing Israel’s right to defend itself against Hamas and its October 7, 2023, attack that triggered the war, Macron is signaling that France’s support can only go so far.
Israeli Prime Minister Benjamin Netanyahu denounced the shift by one of his country’s closer allies in Europe. “Such a move rewards terror and risks creating another Iranian proxy, just as Gaza became,” he said in a statement. “A Palestinian state in these conditions would be a launch pad to annihilate Israel—not to live in peace beside it.’’
A step but not a magic wand THE idea that Palestinians and Israelis could live side by side in peace in their own states has perhaps never looked more unrealistic—with Gaza in ruins and the occupied West Bank facing increasing settlement by Israelis. Macron’s words alone won’t change that. Still, the French leader’s message is that the hope of a “two-state solution” achieved through diplomacy must not be allowed to die—however unattainable it may seem.
“This solution is the only path that can address the legitimate aspirations of both the Israelis and the Palestinians. It must now be brought about as quickly as possible,” Macron said in a letter to Palestinian President Mahmoud Abbas which confirmed his decision to recognize Palestine as a state.
“The prospect of a negotiated solution to the conflict in the Middle East seems increasingly distant. I cannot resign myself to that,” he said.
The first impacts are likeliest
not in Gaza but in world capitals where leaders may face pressure or feel emboldened to follow France’s lead. Attention is focusing on other G7 nations, because of their economic and diplomatic sway.
“Macron’s declaration could create a precedent because it would be the first Western country in the G7 to do so, which could have the effect of leading others,” said David Rigoulet-Roze, a researcher at the French Institute of Strategic Analysis.
Although more than 140 countries recognize Palestine as a state, France will be the biggest, most populous and most powerful among those in Europe that have taken this step.
“It creates some small momentum,” said Yossi Mekelberg, a senior consulting fellow at the Chatham House think tank in London who also added, however, that “this is not enough.”
“France should be congratulated, and Macron should be congratulated for doing that and showing the courage,” he said.
A shift in the balance of big powers
UNTIL now, China and Russia were the only permanent members of the UN Security Council that recognized Palestinian statehood. France will join them when Macron makes good on his promise in September at the UN General Assembly. The new trio will leave the US and the UK in a security council minority as its only permanent members that don’t recognize Palestine as a state.
The so-called P5 nations are divided on many other issues—including Ukraine, trade and climate change—so France’s shift isn’t, in itself, likely to spur radical and rapid change for Palestinians. Still, if only mathematically, the US— Israel’s most important ally—and the UK could find themselves more isolated among the big powers in any discussions on solutions for the Middle East.
US President Donald Trump dismissed Macron’s decision on Friday, saying “What he says doesn’t matter. It’s not going to
change anything.”
France may have better traction with the UK. Putting Brexit behind them, the UK and France are now drawing closer, most notably in support for Ukraine. If British Prime Minister Keir Starmer follows Macron’s example, Trump could become the odd man out on Palestinian statehood among the security council’s big five powers.
Starmer has signaled growing disquiet over the humanitarian crisis in Gaza, saying in a statement Thursday that suffering and starvation there “is unspeakable and indefensible.” But he doesn’t seem ready to take a leap like Macron, suggesting that fighting must stop first.
“Statehood is the inalienable right of the Palestinian people,” Starmer said. “A ceasefire will put us on a path to the recognition of a Palestinian state and a twostate solution.”
AP writers Jill Lawless in London, and Michelle Price in Washington, contributed.
What’s behind the fighting between Thailand and Cambodia
BANGKOK—Armed clashes have broken out between Thailand and Cambodia in long-disputed border areas, rapidly escalating monthslong tensions.
The fighting included gunfire exchanges, shelling and rocket fire, which have killed at least 14 people in Thailand and one in Cambodia and wounded dozens, while driving tens of thousands of people to flee homes near the border. Thailand also hit Cambodia with air strikes.
It was the second armed confrontation since a Cambodian soldier was shot dead in May and a major escalation that came hours after the two countries downgraded diplomatic relations following a land mine explosion that injured Thai soldiers.
The Thai military reported clashes at locations along the border near four Thai provinces on Friday. Here’s what to know about the dispute between the two Southeast Asian neighbors.
How the dispute began THE dispute flared in May after armed forces of Thailand and Cambodia briefly fired at each other in a relatively small, contested border area that each country claims as its own. Both sides said they acted in self-defense. One Cambodian soldier was killed.
While the countries said afterwards they agreed to de-escalate the situation, Cambodian and Thai authorities continued to implement or threaten measures short of armed force, keeping tensions high.
Thailand added tight restrictions at the border with Cambodia that stopped almost all crossings except for students, medical patients and others with essential needs. On Thursday, Thai authorities announced they were sealing the border entirely. Cambodia also banned Thai movies and TV shows, stopped the import of Thai fuel, fruits and vegetables and boycotted some of its neighbor’s international internet links and power supply.
Fighting sparks political turmoil in Thailand NATIONALIST passions on both sides have inflamed the situation. Thailand’s Prime Minister Paetongtarn Shinawatra was suspended from office July 1 to be
investigated for possible ethics violations over her handling of the border dispute following a leaked phone call with a senior Cambodian leader.
In the June call, Paetongtarn referred to Cambodian former Prime
Minister Hun Sen as “uncle” and criticized Thai military leadership, remarks framed by critics as disrespectful to national sovereignty.
Hun Sen was succeeded by his son Hun Manet in 2023 but remains influential as Senate president. He was a longtime friend of her father, Thaksin Shinawatra, a popular but divisive former prime minister, but they became estranged over the border dispute.
The leaked call sparked widespread outrage and protests. Paetongtarn’s Pheu Thai party-led coalition also weakened when its second-largest partner, the Bhumjaithai Party, withdrew support, citing her perceived softness toward Cambodia.
Paetongtarn has apologized and argued her comments were a negotiating tactic. Her ally, former Defense Minister Phumtham Wechayachai, was appointed acting prime minister.
Border claims cause periodic tensions BORDER disputes are long-standing issues that have caused period-
ic tensions between the two neighbors. Thailand and Cambodia share more than 800 km of land border. The contesting claims stem largely from a 1907 map drawn under French colonial rule that was used to separate Cambodia from Thailand. Cambodia has been using the map as a reference to claim territory, while Thailand has argued the map is inaccurate. The most prominent and violent conflicts have been around the 1,000-year-old Preah Vihear temple. In 1962, the International Court of Justice awarded sovereignty over the temple area to Cambodia. The ruling became a major irritant in bilateral relations. Cambodia went back to the court in 2011, following several clashes between its army and Thai forces that killed about 20 people and displaced thousands. The court reaffirmed the ruling in Cambodia’s favor in 2013.
Cambodia has again turned to the international court to resolve the border disputes but Thailand has rejected the court’s jurisdiction. AP
CAMBODIANS drive behind a military vehicle for evacuation in Oddar Meanchey province, Cambodia, Friday, July 25, 2025, as Thai and Cambodian soldiers have clashed along the border between their countries in a major escalation. AP/HENG SINITH
DEMONSTRATORS in Nancy join protests across France on June 1, 2024, in solidarity with the Palestinian people and to condemn the bombings in Gaza. JEAN MARC RICHARD DREAMSTIME.COM
FRENCH President Emmanuel Macron speaks to army leaders at the Hotel le Brienne, Sunday, July 13, 2025, ahead of the Bastille Day parade in Paris. LUDOVIC MARIN, POOL PHOTO VIA AP
FENDI EXPANDS FRAGRANCE COLLECTION WITH TRIBUTE TO ROME AND FAMILY LEGACY
AS FENDI marks its centennial year, the brand deepens its artistic expression through the world of perfumery with the launch of Eaux d’Artifice, a new fragrance inspired by the hypnotic beauty of Rome. A tribute to the Eternal City and to the Fendi family’s creative legacy, this latest scent joins a growing collection that captures the house’s soul through scent—exclusive, expressive, and deeply personal.
Unveiled just a year after the debut of FENDI’s first-ever fragrance line, Eaux d’Artifice is a vibrant new chapter in an olfactory saga rooted in nearly a century of heritage. Conceived by Delfina Delettrez Fendi, the brand’s Artistic Director of Jewelry, the fragrance draws inspiration from her nighttime view of the Trevi Fountain—Rome’s most iconic and poetic landmark. Like a live painting in motion, the scent evokes the mystical atmosphere of cascading water over marble, enhanced with a mineral and aquatic accord, sensual musk, and the aromatic freshness of juniper. Hints of metallic notes echo the glint of lucky coins tossed into the fountain, a subtle nod to Delfina’s high jewelry creations. “Perfume, like jewelry, is a silent accessory that sends messages about who we are or who we want to be,” Delfina shares.
Eaux d’Artifice joins a collection designed to embody the house’s values—artistry, family, and a reverence for Rome. Each fragrance tells a story, channeling the personalities, places, and passions that define the Fendi lineage. At the heart of this collection is a deep familial thread, woven through generations of strong women and inspired visionaries: from matriarch Adele Casagrande Fendi to Silvia Venturini Fendi and the fourth generation of creative voices, including Delfina and her sons. Two standout creations continue to lead this fragrant family:
Perché No, a scent born from the spirit of Silvia Venturini Fendi, offers a philosophy of openness and possibility. As fresh and grounding as a white sheet drying in the Roman countryside sun, it’s layered with pink pepper, incense, and sandalwood—an ode to comfort, warmth, and optimism.
La Baguette, inspired by Delfina’s twin sons, Tazio and Dardo, is a playful and tender tribute to childhood memories and the house’s iconic bag of the same name. With notes of powdery iris, Madagascar vanilla, and soft leather, it captures the innocence of a Sunday morning, the sweetness of a family treat, and the elegance of generational connection. More than just perfume, the FENDI fragrance line is a sensory extension of its fashion, design, and cultural identity—inviting wearers into the heart of the Maison. As Silvia Venturini Fendi puts it, “The fragrance collection tells the story of FENDI from another point of view. It expresses the essence of the brand in a different way, by telling its story in a different language. Today, at FENDI, we can readily say that we have explored and used all the senses.”
Style
‘Marry Me at Marriott 2025’: Its most magnificent edition
WITH the most illustrious lineup of fashion designers in years, Marry Me at Marriott, the signature bridal and wedding fair expo of Marriott Bonvoy, held its most dazzling edition yet.
Six of the country’s finest practitioners of fashion—Rajo Laurel, Michael Leyva, Francis Libiran, Mak Tumang, Vania Romoff and Michael Cinco—presented capsule collections at the Marry Me at Marriott Philippine Gratus Gala: The Gideon Hermosa Anniversary Edition
The elegant evening was a celebration of renowned event stylist Gideon Hermosa’s 15th anniversary in the weddings and events industry.
“Our aim is to highlight Filipino creativity, showcasing how unconventional materials and approaches can be used to create world-class aesthetics. It’s about telling a story of innovation, craftsmanship, and cultural pride,” said Hermosa, famed for his House of Hermosa.
“Marriott International is growing its presence in the Philippines, and we look forward to making a bigger impact,” said Bruce Winton, area general manager, Marriott International-Philippines. “The events that follow are expressions of gratitude and a testament to our concerted commitment to providing more winning moments.”
Here, the featured bridal designers share their creative process:
RAJO LAUREL
“IT is not every day that you are given the opportunity to showcase your work side by side some of the most talented Filipino designers we have today. So, when Gideon Hermosa sent me a message inviting me to his 15th anniversary extravaganza, how could one say no? It’s been quite some time since I prepared for a bridal fashion show. And to be honest, while preparing for this I did not know where to begin. You would think that after more than three decades of doing this, it should get easier. But the truth is, it doesn’t.
“The same sense of nervous anxiety, insecurities remain. Yet the thrill to create and express rises above all that. I began the collection with the intention and mindset of ease. How can I make this whole process as ‘stress-free’ as possible? I began by exploring the question: What would I like to wear if I was getting married? To be honest, I have never thought about it. From there, things started to be more clear.”
MICHAEL LEYVA
“I WANTED to do something different this time. I wanted to showcase a [black and white] collection that has never been seen in my past years of designing.”
MAK TUMANG
“FOR this ‘Luna Regenta’ collection, I focused on ball gowns. There are grand sculptural silhouettes that still feel delicate and feminine. It is an ode to nature, which has always been my constant source of inspiration. You’ll see organic lines, floral motifs, and textures that echo elements from the natural world. The pieces are romantic, intricate, and made to celebrate the beauty and strength of a modern Filipina bride.”
FRANCIS LIBIRAN
“MICHELLE DEE floats like a flame in the dark, the crimson veil whispers stories of longing and strength, igniting the stage’s soul. “I wanted to showcase my work as a designer, making sure that it speaks to the Art Deco aesthetic that I have established.
“As I update my vision board for the next chapter, I’m reminded of the power of clarity and intention. Visualizing our goals brings them closer to reality, and each achievement becomes a stepping stone to new aspirations. Embracing change and growth is the key to evolving and reaching even higher. Here’s to trusting the journey, celebrating progress, and boldly stepping into the next adventure.”
VANIA ROMOFF
“[THIS is] a collection dedicated to our brides— women whose authenticity and style take precedence over tradition. Each piece reflects the intimate, collaborative relationships we’ve shared with them and stands as a quiet celebration of that bond.”
The Grand Hausse combines fashion and food in one space
guessed, purple. The pastas are colorful and freshly made everyday.
The Fiery Aligue-Lobster Bisque designer pasta is one of The Grand Hausse’s signature dishes, along with the Mystique Handkerchief Pasta, and crowd favorites like the Heavenly Truffle Chicken, Ribs of Creation, and Citrine Ribeye Steak. The drinks are called Empowerment Elixir, Wealth Whispers, Uplifting Spirit, and Balanced Within.
On the ground floor is the boutique, which features The Grand Hausse’s fashion collection of tops, coats, and flowing dresses, which I think is their signature look. The Grand Hausse also offers 18K PVD gold costume jewelry, which are pretty and delicate. Founded by creative artist Micah Shi, The Grand Hausse was born out of her passion for fashion and the belief that it is a means for self-expression and empowerment.
The colors of the clothes are vibrant. You’ll see a lot of yellows, oranges, greens and reds because Shi believes in celebrating love, protection, prosperity,
MICHAEL CINCO
“THE ‘Impalpable Dream of Marie Antoinette’ collection is inspired by the opulent era of Marie Antoinette, a time when women embraced extravagance and elegance through voluminous ballgowns, delicate lace, intricate embroidery, and lavish fabrics.
“I was deeply inspired by the intricate details of Rococo art, the gilded interiors of palaces, and the dramatic silhouettes of historical court dress.
These influences guided my choice of luxurious fabrics like exquisite lace, brocade, and layers of soft tulle, as well as the ornate embroidery and crystal embellishments.
“The grand finale, with Christi McGarry as the bride, features an exquisite, fully crystallized mermaid gown with a dramatic three-meter train, inspired by the opulent Rococo walls of Versailles. The groom embodies a modern-day Louis XVI, adorned in matching intricate embroidery that mirrors the bride’s regal splendor.”
abundance and peace.
This belief is seen throughout the lifestyle hub. The clothing collections are called “I am love,” “I am protected,” and “I am peace.” The other collections are called “Radiant Spirit,” “Divine Seraphs,” and “The Whispers of Lotus.”
The clothes are all designed by Shi, who says they chronicle her journey from darkness to light.
“The elements of the clothes incorporate those that capture the challenge and success of discovering one’s inner light,” said Shi, who is also in the business of generators.
“I have always had a passion for art and design. The Grand Hausse was not supposed to be a fashion house with a cafe-restaurant. I was planning to open a furniture store but something happened to change that, and I’m glad I am able to bring my passion here.” The Grand Hausse is at
Editor: Gerard S. Ramos • Monday, July 28, 2025
RADIANT BRIDES Wedding ensembles by Rajo Laurel and Francis Libiran; Mak Tumang and Michael Cinco; Michael Leyva and Vania Romoff.
DBP raises P8.25B in newest bond issuance
State-owned Development Bank of the Philippines has successfully raised P8.25 billion in fresh funds from its latest dual local bond offering as it continues to diversify its funding sources to support more projects aligned with the National Government’s economic development agenda, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said the Bank’s latest bond issuance under its expanded P150-billion bond program was 1.65-times oversubscribed from the minimum issue size of P5-billion.
“DBP’s latest successful mobilization of the capital markets allows it to expand its funding base and subsequently, finance more projects and initiatives that complement President Ferdinand Marcos, Jr.’s vision of sustaining longterm economic expansion and promoting greater financial inclusion,” de Jesus said.
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
DBP’s seventh tranche of fixed-rate
series bonds consisted of the P3.457 billion 7A Bonds offered at a 5.8751 percent annual interest rate and a threeyear tenor and the P4.793 billion 7B Bonds with an interest rate of 6.1454 percent per annum and a tenor of five years. De Jesus said the bonds were enrolled and traded through the Philippine Dealing and Exchange Corporation with China Bank Capital Corporation as issue manager, sole arranger, and sole bookrunner. He said proceeds from the latest
PAGCOR, Ad Standards Council ink MOU to regulate gambling ads
AFTER nine months of consultations, the Philippine Amusement and Gaming Corporation (PAGCOR) and the Ad Standards Council (ASC) signed last July 16, 2025, a Memorandum of Understanding for the regulation and pre-screening of gambling-related advertisements across all media platforms.
issuance would be used for the Bank’s general corporate requirements including funding source diversification, balance sheet expansion, and broadened support for strategic lending activities.
“This latest bond issuance is also reflective of the unwavering trust and confidence of the market in DBP as a strong and relevant government financial institution, one that plays a crucial role in advancing sustainable and inclusive economic growth especially in unserved and underserved areas of the country,” de Jesus said.
Discover Everyday Surprises with SM Retail at the 31st National Retail Conference and Expo
SM Retail returns to the spotlight as the Diamond Sponsor at the 31st National Retail Conference and Expo (NRCE), happening from July 31 to August 1, 2025, at the SMX Convention Center, Pasay City. As the country’s most anticipated retail industry gathering, the NRCE brings together thought leaders, innovators, and stakeholders from across the retail landscape—including mall developers, suppliers, and brand owners.
This year’s theme, “Retail Game Changers,” sets the stage for bold conversations on leadership, innovation, and resilience in today’s ever-evolving market. Fittingly, SM Retail embodies this spirit, not just as a key participant, but as one of the driving forces behind the transformation of Philippine retail.
As the retail arm of the SM Group, SM Retail continues to shape the way Filipinos shop. With its expansive portfolio of brands—spanning fashion, beauty, home, tech, lifestyle, and essentials—SM Retail provides customers with unparalleled variety, value, and convenience. Whether it’s daily must-haves or curated finds, shoppers can trust that SM Retail has something for every lifestyle and budget.
From homegrown favorites like The SM Store, SM Markets, SM Home, SM Appliance Center, Kultura, Toy Kingdom, Baby Company, Pet Express and Sports Central, to trusted global names such
as Ace Hardware, Crate & Barrel, Crocs, Disney Store, Dyson, ECCO, Levi’s, Miniso, Watsons, The Body Shop, Uniqlo and Innisfree—SM Retail delivers a worldclass shopping experience grounded in local insight and customer care.
Beyond its expansive offerings, SM Retail continues to lead with purpose.
From sustainable retail practices and inclusive community engagement to tech-enabled shopping solutions and customer-centric experiences, SM Retail redefines what it means to serve the
“Ready.
AMI Art Gallery in White Plains opened its doors for the highly anticipated “Ready. Get. Grit.” Exhibition, a compelling exploration of perseverance, selfdiscovery, and personal empowerment, last July 19, 2025. Despite the ongoing typhoon, the event was wellattended and proved to be a memorable evening. The 45-minute program, prepared by PIGMENTO. PH founder, was hosted by Zara Carbonell, an esteemed beauty queen and public figure. The event featured spoken-word poetry, live performances, and visual art, sparking deep reflection and stimulating conversations among attendees. The evening fostered connection and reflection, with light cocktails served in an intimate atmosphere. The exhibition was thoughtfully structured around four key themes—Overcoming Adversity, Embracing
Filipino shopper. At the 31st NRCE, SM Retail aims to share how it continues to innovate while staying rooted in its mission: to enrich lives through accessible, meaningful, and joyful retail experiences.
Explore how SM Retail continues to be a game changer in the retail space. Drop by the SM Retail booth at the 31st NRCE to discover what’s new, what’s next, and how everyday can be extraordinary. For more information, visit smstore. com.
PAGCOR Chairman and CEO Alejandro H. Tengco and ASC Chairperson Golda Roldan led the signing ceremony at the PAGCOR Corporate Office in Pasay City as part of efforts to promote responsible advertising in the gaming industry.
The agreement adds gambling to ASC’s list of “must-screen” categories, joining alcoholic beverages, over-the-counter medicines, food supplements, airline/ transport services with promotional fares, and breast milk substitutes.
Tengco said the MOU was a product of careful planning and thorough consultations with the ASC, contrary to what detractors were claiming that it was a rushed response to recent concerns about illegal online gambling and unregulated advertising.
“Almost a year ago, we began initial talks about this initiative. Today, we are gathered here to formally sign this agreement so that we can immediately execute everything we committed to in this Memorandum of Understanding,” Tengco said.
Under the agreement, all branded or corporate gambling ads, including television, radio, online, and outdoor advertising, must be reviewed and approved by ASC prior to public release to curb misleading content and protect vulnerable groups from potential harm.
“Simple lamang po ang pinaka-layunin natin dito: ang tiyakin na ang mga patalastas ukol sa sugal ay hindi nanlilinlang at hindi sumasamantala sa kahinaan ng iba [Our ultimate goal here is simple: to ensure that gambling advertisements are not deceptive and do not exploit the vulnerabilities of others.],” the PAGCOR chief added. For her part, Roldan said the collaboration underscores ASC’s commitment to protect consumers particularly in industries that require heightened sensitivity in messaging.
“We stand with PAGCOR in our shared goal of protecting the Filipino people, especially in sectors like gambling where communication requires greater sensitivity and care,” she said.
Earlier this month, PAGCOR issued a directive ordering the immediate removal of all gambling-related billboards and out-of-home advertisements including from public transport systems like buses, jeepneys, taxis, and trains. All PAGCOR licensees and stakeholders were given until August 15 to completely remove all gamblingrelated outdoor ads.
Okada Manila Gives its Guests a Taste of Excellence with Premium Dining Experiences
THE six-time Forbes 5-star integrated resort
Okada Manila invites guests to indulge in a world of exceptional flavors at its premium dining restaurants: Ginza Nagaoka, Yu Lei, and Kappou Yoshi.
These restaurants promise not only exquisite cuisine but also unforgettable experiences defined by culinary mastery, refined ambiance, and impeccable service.
Ginza Nagaoka: Authentic Edomae Sushi, Perfected
An intimate 10-seater sushi bar, Ginza Nagaoka delivers the highest expression of traditional Edomae sushi under the expertise of Chef de Cuisine Junji Nagaoka, a true sushi shokunin or artisan.
From selecting the finest seafood flown in daily from Japan to preparing and serving each piece to guests, Chef Nagaoka curates every detail of the omakase experience. Signature offerings highlight the purity and depth of seasonal flavors, making every meal precise, authentic, and profoundly personal.
Yu Lei: A Contemporary Take on Shanghainese Elegance
Helmed by Chef de Cuisine Mikiya Imagawa, Yu Lei offers a modern interpretation of Shanghainese cuisine, combining classical Chinese techniques with refined Japanese precision.
The menu is a feast for the senses—visually stunning and rich in flavor. Guests can savor standout dishes that showcase the chef’s ability to elevate prized ingredients into intricate culinary works of art.
Kappou Yoshi: Kyoto-Style Sophistication
Chef de Cuisine Yoshihiro Sugiyama leads the culinary vision at Kappou Yoshi, where Kyoto’s time-honored culinary traditions are presented with modern elegance.
Step into the intimate, exclusive ten-seat sushi bar at Ginza Nagaoka, where authentic Tokyo-inspired sushi and sashimi reign supreme.
Using a kappou-style approach, Chef Yoshihiro crafts dishes with thoughtful restraint and exceptional technique, reflecting the harmony and seasonality central to Japanese cuisine. Guests are immersed in a tranquil dining space where every detail—from the ceramics to the pace of service—echoes Kyoto’s refined sensibilities.
Experience Culinary Mastery at Okada Manila
Across all three outlets, premium ingredients, masterful technique, and immersive ambiance converge to offer a dining experience that goes beyond the plate. Each restaurant is thoughtfully designed to complement its cuisine, creating moments that linger long after the last bite. Embark on a culinary journey at Okada Manila’s premium dining restaurants. For reservations, contact premiumdining@okadamanila.com or call +632 8555 5799. To explore more, visit https:// okadamanila.com/dine.
Identity, Strength Through Pain, and Empowerment Through Personal Growth—each explored through the profound works of gifted artists. The program unfolded in four impactful segments:
1. Hear Their Stories – Overcoming Adversity This segment symbolized life’s obstacles, represented through crumpled paper and triangles. Featured artists and artworks included: Mari Zhar: A stunning collection of sculptures that explored strength through loss, using crumpled, hardened canvas mounted on wood to symbolize the painful past and the hope for new beginnings. La Gemina: Displayed a collection of plaster of paris framed artworks that represented chaos and transformation. Jeff Dahilan:
PAGCOR Chairman and CEO Alejandro H. Tengco (3 rd from left) and ASC Chairperson Golda Roldan (2nd from left) lead the signing of the Memorandum of Understanding formalizing PAGCOR and ASC’s partnership to promote responsible gambling advertisements. With them are PAGCOR Assistant VP for Gaming Licensing and Development Ma. Vina Claudette Oca (extreme right) and ASC President Anna Locsin (extreme left).
What a difference good relationships make
HAVING a wide network is a huge advantage, not only in public relations, but in most other industries and even in many life situations. In the startup space, a good network— both extensive and high quality—can help pave the way for investments and future success.
Of course, your network alone will not do the work for you. As a startup, you have to have a great idea, an amazing team, and a spot-on product-market fit. Your business model should be flexible, with a viable funding strategy and a solid growth plan. Having a good network of potential supporters will provide you with that added push to propel your business forward.
I recently had the chance to sit down with some of the leaders of Ayala-backed venture capital firm Kickstart Ventures. Prior to doing that interview, I knew next to nothing about how the startup community worked. The little that I knew came from watching the 2020 Korean drama Start-Up. While the depiction was fairly accurate, I learned that there was so much more to the startup and venture capital world than what that 16-episode series showed.
Being in the PR and marketing space, what really piqued my interest were the various networking programs and activities that Kickstart regularly held for startup stakeholders. One of their programs, dubbed a very witty “Raid the Fridge,” has been running since 2012 and, at 13 years old, is the longest-running recurring event for the local startup community. Raid the Fridge is a monthly mixer that brings together different stakeholders in the startup space. It provides an opportunity for founders and their teams to connect with each other, and also meet potential mentors and investors. In the past few years, even students have started attending the events.
Welcoming the next generation “FOR Kickstart, the community events help a lot because [students] don’t feel intimidated.
FAMILY OR FALLOUT?
THE HIDDEN COSTS OF LEGISLATING ELDER CARE
MANILA, PHILIPPINES—As the Philippines marches toward becoming an aging society, one truth becomes clearer than ever: the current systems in place are woefully underprepared to support the growing population of senior citizens. The Philippine Statistics Authority pegs the country’s total population at 112.7 million in 2024, and a significant portion of this number—those aged
They already start building their relationships within our ecosystem,” said Kickstart Head of Communications Celina Durante.
She related that the academe had become a larger part of the startup space over the past few years, and both schools and students alike now saw it as a viable path after graduation—unlike before when the focus was on getting jobs in large multinational firms and international organizations.
Kickstart Strategic Partnerships Manager Pia Angeli Bernal added that there was huge value in community in the startup ecosystem, as it made the next generation of startup entrepreneurs more confident about joining the industry.
“It gives the youth a soft landing pad if they want to be introduced to the world of startups and investing. By attending these community events, not just in Kickstart but with other ecosystem members and neighbors, it allows them to be familiar with the conversations, the language, the jargons, the different players and what they care about, what are the issues they are trying to address and how,” she explained.
“Typically, the path of the students when they join the community is they will start joining the hackathons and demo days, the internships, and then attending other ecosystem events and volunteering. I’ve seen so many students who started as volunteers and have become em -
60 and above—is steadily increasing. This shift demands urgent reforms in healthcare, pension, and social protection programs. But instead of strengthening state support, a recent legislative proposal appears to be shifting this burden onto the backs of young Filipinos already crushed by poverty.
Senator Panfilo “Ping” Lacson has refiled Senate Bill No. 396, also known as the Parents Welfare Act of 2025, which mandates children to support their aging parents or face penalties. Citing Article 195 of the Family Code on mutual family support, the bill aims to ensure elderly parents are cared for. But many see this as a misguided attempt to legislate morality, one that overlooks the realities of Filipino
life—and risks deepening generational trauma.
At the heart of the Philippines lies a deeply entrenched cultural belief where Filipino parents, especially from low-income families, have tendencies in raising multiple children in the hope that one day, one of them will become their savior. It’s a cycle powered by desperation—a belief that out of seven kids, surely one will succeed and “repay” the sacrifices made. But this social contract, often unspoken, is increasingly untenable in a country where structural support is lacking and opportunities are scarce.
“Children do not choose their parents. Parents choose to bring children into the world,” a concerned citizen
ployees in startups. The original batch of students have become leaders in their own right, so now (the next generation) have someone to model themselves after. So it’s not just limited to the founders, but someone who was very recently just like them. That makes it look even more like a path that they could also take,” she added.
Kickstart Co-founder and Managing Partner Minette Navarrete said this becomes a cycle, where students who attend community events become mentors for the next generation of startup founders and employees. Leveraging on strong backers COMMUNITY events and programs are not limited to open mixers like Raid the Fridge. Kickstart also has programs that leverage on its strong corporate backers to create relationships with promising start-ups and provide its existing portfolio companies with the best possible support to ensure their success.
These programs include Deal Day, Kickstart’s flagship matchmaking platform that connects Ayala business units and other corporate entities with curated startup solutions; Area 55 Mixers, which are curated networking events that bring together innovation teams across Kickstart’s portfolio companies, the Ayala Group, and other business organizations, fostering early-stage dialogue, building trust relationships, and creating foundations for future collaborations; and Kickstart Coffee
posted online, echoing what many young Filipinos feel. “So why must love be demanded from children when it was never taught or shown by their parents? Why legislate debt where there was never emotional investment?”
The bill has sparked criticism for ignoring the harsh realities of Filipino family life. What about children who were abandoned, neglected, or abused? Who will hold parents accountable for inflicting lifelong wounds on their children—emotional, financial, or physical? Is it fair to demand care from someone who never received it in the first place?
Senator Lacson has since clarified that his proposal does not compel children to support parents who have been abusive or neglectful. “ Walang obli -
Chats, which link founders of Kickstart’s portfolio companies with industry experts and corporate leaders.
There are also international programs such as Cross-Border Programs, which entail partnering with embassies, accelerators, and global venture capital firms to bring cutting-edge global startups into the Ayala ecosystem; and Innov8Sparks, a network of technology startup support and funding initiatives by Singapore’s Singtel Innov8, Thailand’s AIS The Startup, Globe Kickstart Ventures, Australia’s Optus-Innov8 Seed, and Indonesia’s Telkomsel Team Dev.
With some of the biggest names in telecom and tech in the region as partners and with Globe Telecom and the rest of the Ayala conglomerate as backers, Kickstart becomes an attractive investor and partner, even for companies that have no shortage of funds.
According to Kickstart General Partner Joan Yao, one good example of this was the firm’s entry into fast-growing coffee chain Pickup Coffee. When she met them in March 2022, the company was not even raising funds. But she saw the coffee chain’s potential, so she and the Kickstart team pursued the investment.
Kickstart’s being part of the Ayala Group made it attractive to Pickup Coffee, as this meant access to the Ayala Malls network, she said. But what sealed the deal was the relationship initially built with the founder.
gasyon ang anak na magsuporta sa magulang na nang-abuso, nag-abandon, o nagpabaya sa kanya, ” he stated. Yet even this clarification does not address the broader concern: that the bill may be a convenient way to deflect responsibility from where it truly lies—on the state.
Filipino taxpayers deserve more. Nowhere in United Nations frameworks on aging and elder care does it recommend burdening adult children with the full weight of caring for their parents. Instead, it calls on governments to adopt comprehensive, state-led solutions— such as universal pension schemes, accessible geriatric care, housing support, and mental health services for the elderly. These goals can only be achieved
“Some of the work we do at the beginning, led by the investments team, is building relationships with the founder: showing interest in what they’re trying to do and really trying to understand what they want to build and what their vision is for the company. It really comes down to connection, understanding, and trust. Trust is not a commodity,” she related. For startups to succeed, having good relationships and a wide network are very important. On the other hand, these are also the same things that make venture capital firms like Kickstart attractive as an investor. The bottom line: relationships are crucial to business success, no matter your industry. Invest in relationships; build your network. The rewards will be priceless.
PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Abigail L. Ho-Torres is the Chief Marketing Officer of Ikigai Philippines and an independent consultant and trainer, with more than two decades of experience in media, public relations, marketing, and customer experience.
We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.
through stronger inter-agency coordination, increased public funding, and inclusive health systems—not by passing the buck to children who are already barely surviving. In the Philippines, public healthcare remains underprepared to meet geriatric needs. Pension systems are limited, with many seniors relying on the Social Pension for Indigent Senior Citizens, which gives only P500 a month—under the Department Social Welfare Program (DSWD) barely enough for medication, let alone basic needs. With the minimum wage lagging far behind the rising cost of living in the Philippines, how can we expect struggling youth to support both their children and their aging parents?
THE strong women of Kickstart: Minette Navarrete, Pia Angeli Bernal, Celina Durante, Joan Yao
PIA ANGELI BERNAL, Minette Navarrete, the author, Joan Yao, Celina Durante
By Josef Ramos
Pogačar holds on to 4-minute lead as Tour finishes with grind in Paris
PONTARLIER, France—Tadej Pogačar closed in on a fourth Tour de France title after safely finishing Saturday’s penultimate stage and maintaining his big lead over arch-rival Jonas Vingegaard.
Australian rider Kaden Groves won stage 20 with a late solo breakaway, while Pogačar rolled over the line about seven minutes later in the same time as Vingegaard.
The Slovenian cycling star leads the twotime Tour winner Vingegaard by four minutes and 24 seconds, with German rider Florian Lipowitz 11:03 behind Pogačar in third overall.
Barring a heavy crash or illness, Pogačar was expected to celebrate Sunday and move level with British rider Chris Froome on four Tour titles.
Victory would also give Pogačar a fifth Grand Tour after winning the Giro d’Italia in dominant fashion last year.
“I am more or less sure of my overall victory, but I still don’t want to say anything about it. I want to stay focused until I have crossed the finish line in Paris,” Pogačar said.
“That’s one of the most beautiful parts of this sport. We are 180 guys who spend weeks riding in the mountains and in the end, all of
a sudden, we come to the streets of one of the biggest cities in the world,” he added.
However, Sunday’s final stage of this edition is not a largely processional one, as is usually the case, and could potentially prove somewhat problematic toward the end with three consecutive climbs.
“I am unsure of how the final stage will pan out,” Pogačar said. “The course is relatively short, and that will make for a rather punchy effort.”
On Saturday, the 184.2-kilometer route through eastern France featured three small climbs and a moderately difficult one up Côte de Thésy before finishing in Pontarlier. But there was scant opportunity for Vinegaard to attack Pogačar.
As the riders set off Saturday in driving rain, the yellow jersey group stayed safely at the front until breakaways formed.
When the front group tackled the 3.6-kilometer Côte de Thésy, Frenchman Jordan Jegat launched a solo attack, but he was then overtaken by Australian rider Harrison Sweeny.
As rain fell heavily again with 40 kilometers, Sweeny opened up a 50-second lead, only to be reeled in shortly after. AP
Gilas gets mettle tested vs Black Bears
THE men’s national team plays the Macau Black Bears in a tuneup game on Monday night at the Smart Araneta Coliseum sans San Miguel Beer big man June Mar Fajardo and TNT Tropang 5G top gun Calvin Oftana.
But CJ Perez, according to Gilas Pilipinas head coach Tim Cone, will have limited minutes against the Black Bears who he considers as worthy opponents that will give the coaching staff enough details to fine tune the squad. “They played the Chinese national team and beat them,” Cone reiterated of the Macau team. “So they are a tough team and we know that and we want to have someone tough to play before we leave.” The Black Bears, interestingly, took University of the Philippines’ 6-foot-10 standout Quentin Millora-Brown into their roster for the game set at 7:30 p.m.. The Philippines is coming off consecutive losses—New Zealand, 70-87, and Chinese-
ATaipei, 84-91—in the qualifiers last February for the International Basketball Federation (FIBA) Asia Cup set early next month in Jeddah, Saudi Arabia.
Cone set up camp at the Hustle Fitness Performance Gym in Angeles City while San Miguel Beer and TNT played in the Philippine Basketball Association Philippine Cup Finals which the Beermen won, 4-2.
The camp had aturalized player Justin Brownlee, Japeth Aguilar, Scottie Thompson, Jamie Malonzo, RJ Abarrientos, Troy Rosario, Chris Newsome, Dwight Ramos, AJ Edu, Carl Tamayo and Kevin Quiambao.
The team flies to Jeddah on July 30 Wednesday and will play friendlies against Jordan and any other team which would be available ahead of the tournament that opens August 5.
Gilas will play Chinese-Taipei on August 6 at 2 p.m., New Zealand on August 7 at 11 p.m. and Iraq on August 9 at 4 p.m. in Group D action. Josef Ramos
CARLO BIADO put the Philippines back on a lofty position—just like the masters of the game ahead of him—by winning the World Pool Nine-Ball Championship on Sunday morning in Jeddah, Saudi Arabia.
The final victory—15-13 over last year’s winner, Russian American Fedor Gorst—made him the first player to win the trophy twice and also richer by $250,000 (roughly P14 million).
But the winner of the same tournament in 2017 in Doha wasted no time to fly back to the country to wife Niecky and kids John Carlo, Ralph Stephen, Rain Patrick, Serena Angela and Prince Raven in their home in Tunasan in Muntinlupa City.
“No time for celebration,” Biado, 41, wrote on social media while already at the King Abdulaziz International Airport. “My celebration is with my family because they are my biggest trophy in life.”
Biado had all the reasons to rush—he, and 16 other Filipino cue masters—were among the 128 of the world’s best who played top level pool in the six-day tournament also won by the “Magician,” Efren “Bata” Reyes in 1999 in Cardiff, Ronnie Alcano at home in 2006 and Francisco “Django” Bustamante in 2010 also in Doha.
He was expected to be home late Sunday with his trophy and medal, get a few days for rest and celebration before flying to the US for the Florida Open from August 5 to 10 in Caribe Royale, Orlando, and the US Open Pool Championship from August 18 to 23 at the Harrah’s Resort in Atlantic City, New Jersey.
“No more long messages, it’s time to rest a bit for the Florida Open and US Open,” Biado said.
He beat Dutchman Jan Van Lierop, 9-5, in round one and compatriot Lee Van Corteza, 9-4, in the qualification phase to advance to the round of 64. There, Biado defeated Englishman Chris Melling, 11-9 and Pole Wiktor Zielinski, 11-8, to advance to the sweet 16 where he eliminated Filipino Jeffrey Ignacio, 11-9.
He blasted Taiwanese Ko Ping-Chung, 11-7, to set up an all-Filipino semifinals with 20-year-old Bernie Regalario, whom he routed, 11-3, to advance in the championship round against Gorst, who gave Biado nervous moment before yielding to bank the runner-up prize of $100,000.
Also a winner of the US Open, Biado is a three-time Southeast Asian Games gold medalist, world 10-ball champion and World Games gold medal winner.
Born to be champions of pool
THE Filipino tradition lives on with Carlo Biado’s conquest in Jeddah, according to Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino.
“This is another great reason to rejoice and celebrate—Carlo Biado winning in Jeddah and becoming the only player in the world to emerge 9-ball champion twice,” Tolentino said. “Long live Biado and Philippine billiards.”
The POC has been tasked to administer the obligations and responsibilities of the national sports association of billiards and snookers, the Billiard Sports Confederation of the Philippines (BSCP), since its suspension by the Asian Confederation of Billiard Sport, or ACBS, last March.
“We will continue to work, guide and help our national billiard athletes in their training and competitions abroad, including in the Thai land SEA [Southeast Asian] Games this December,” Tolentino said.
MPVSF supports PSC in Baguio City facility
TPSC chairman Patrick “Pató” Gregorio led the turnover ceremony with MVPSF executive director Paulo Trillo along with Baguio City Mayor Benjamin Magalong and members of the sports’ agency’s board.
“We cannot delay something as beautiful as this,” Gregorio said. “Every day that we delay opening these spaces for our athletes is a day of training lost.”
“Our athletes make us so proud as a nation, so in everything we do, the Filipino athlete must always be happy,” he added.
The old weightlifting facility at the hub also got a major interior refurbishment courtesy of the John Hay Hotels managed by Landco Lifestyle Ventures and with the assistance of FCLaranag Development Corp.
“We’re very happy to give help to the PSC and to athletes and we look forward to more programs that we can share with Chairman Pató,” Trillo said.
The athletes who are based in Baguio City welcomed the new equipment.
“We will cherish the blessing that we have,” said Islay Erika Bomogao, the first Filipina Muay Thai world champion.
Foiled but not beaten Galeries Tower’s Jewel Encarnacion
Espedido, Zach Guico, twins Lisa and Mona Sarines, Ryuji Suzuki and Rafa Anciano have won multiple titles earlier in the series for guaranteed spots in the finals of the series that features competitions in the 7-10, 11-14 and 15-18 age groups for boys and girls. The Elite Junior Finals are set October 7 to 10 at The Country Club in Laguna. Penelope Sy, Tyra Garingalao, Venus delos Santos, Ziyu Liu, Cala Tolentino, Frances Guevarra, Ronee Dungca and Tyly Bernardino lead the charge in the girls division, while Zoji Edoc, Halo Pangilinan, Kingston Ching, James Padron, Jethro Bayron, Matteo dela Cruz, Giulio Ballado and Samuel Ababa are vying in the boys’ side of the 7-10 category set for 36 holes. The girls’ 11-14 division features Kendra Garingalao, Althea Bañez, Giulian Ballado, Kelly Ng, Mena Dimaunahan, Marqaela Dy, Kay Mauricio, Arielle Espartero and Reign Waterman vying for crucial ranking points.
astronomical salaries. It is only right that they attend these events and matches.
I know club officials discuss the annual schedule that is worked at least a year in advance with their players, so they know what to expect especially from the PR side and the public appearances they have to make. In fact, these are also inserted into the athletes’ contracts. Here’s the rub… if teams allow their stars to rest for the bigger games at hand as well as the tough grind ahead and that is acceptable by the fans and media. So,
the second, of course they need to make sponsors happy. They also pay
JONAS VINGEGAARD (polka dots) pats virtual four-time champion Tadej Pogacar (yellow) as they cross the finish line with Wout van Aert (left) during the 184.20-kilometer 20th stage of the Tour de France on Saturday. AP
PHILIPPINE Sports Commission chairman Patrick “Pató” Gregorio and MVP Sports Foundation executive director Paulo Trillo, along with Baguio City Mayor Benjamin Magalong, with national athletes, coaches and officials at the training hub in Baguio City.
Mavis
CARLO BIADO is
Finding calm after the storms
Unfinished business
By Jovee Marie N. dela Cruz
AS President Ferdinand “Bongbong” Marcos Jr. prepares to deliver his fourth State of the Nation Address (SONA) on Monday, the nation stands at a pivotal crossroads—marked by gains worth celebrating and challenges that remain unresolved. In this climate of uncertainty, the call for strong, compassionate leadership and a legislative body that acts swiftly and decisively has never been more critical.
SONA 2025
Marcos admin continues ‘ambitious and grounded’ tourism drive
DOT pushes infrastructure and service upgrades under the 2023–2028 National Tourism Development Plan to boost local economies and visitor experience
By John Eiron R. Francisco
WITH gaps in infrastructure, access, and basic services still visible, the Marcos administration continues to pursue its tourism development approach described as both “ambitious and grounded,” designed to remain responsive to local realities, according to Department of Tourism (DOT) Secretary Christina Garcia Frasco.
Now in its third year of implementation, the National Tourism Development Plan (2023–2028) remains the DOT’s blueprint to align local concerns with national priorities. More than just promoting tourism, Frasco explained, the plan aims to tackle deeper structural challenges and “build the foundation of Philippine tourism towards becoming truly globally competitive.”
“When we began crafting the National Tourism Development Plan for 2023 to 2028, we asked a fundamental question: How can tourism work better for Filipinos?” Frasco shared at the Cebu Business Tourism Forum 2025 in Cebu. “We did not answer that question in isolation. We listened closely to stakeholders across the country, understanding their concerns, ideas, and aspirations that have since shaped every aspect of the plan.”
What emerged from this process, she said, is a shared vision for a tourism industry that is “vibrant, competitive, inclusive, and rooted in our culture for the benefit of our communities.
Part of this broader strategy, Frasco added, is the continued development of the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector. She noted that the DOT sees MICE as a high-value tourism segment that can generate jobs and drive inclusive growth across different destinations.
“By positioning the Philippines as a premier MICE destination, we foster economic growth and provide invaluable opportunities for our people,” Frasco said. She added that one of the DOT’s strategic priorities is to broaden the country’s tourism portfolio by investing in high yielded segments such as MICE events, services, and related experiences.
Frasco said MICE delegates spend an average of over $573 each, which is about five times more than what leisure tourists typically spend.
The tourism department remains optimistic that the Philippines can replicate the success seen in other countries, where the MICE sector has played a significant role in driving GDP growth.
‘Tourism powers up’ BASED on the latest data from the Philippine Statistics Authority (PSA), tourism contributed 8.9 percent to the country’s GDP in 2024. Tourism Direct Gross Value Added (TDGVA) rose to P2.35 trillion, up 11.2 percent from P2.12 trillion in 2023. The Tourism Satellite Account showed that visitor spending covered accommodation, food and beverages, transport, travel agency services, entertainment, shopping, and other services.
Outbound tourism expenditure recorded the highest annual growth at 37.5 percent, reaching P345.68 billion in 2024. Domestic tourism spending also increased by 16.4 percent, rising from P2.71 trillion in 2023 to P3.16 trillion in 2024.
Meanwhile, inbound tourism expenditure posted a slight growth of 0.4 percent, from P697.49 billion in 2023 to P699.98 billion in 2024. Combined, internal tourism expenditure—which includes domestic and inbound spending—grew by 13.1 percent to P3.86 trillion in 2024.
Separately, the World Travel & Tourism Council (WTTC) reported that the sector contributed an estimated P5.3 trillion to the national economy in 2024 and supported around 11.2 million jobs. Domestic visitor spending reached P3.6 trillion, while international visitor spending grew to P645 billion, moving closer to pre-pandemic levels.
For 2025, WTTC forecasts that the sector’s contribution could hit a record P5.9 trillion, accounting for over one-fifth of the national GDP. The industry is also expected to support nearly 11.7 million jobs, or almost
a quarter of the country’s workforce. International visitor spending is projected to rise to about P709 billion, while domestic spending could reach P4.1 trillion, both surpassing previous highs. To support these goals, the DOT is pushing forward with key investments for 2025, backed by a proposed budget of P2.79 billion for the Office of the Secretary and total agency obligations of P2.84 billion. Major priorities include infrastructure development, marketing, and capacity building. Of this, P500 million has been set aside
Unfinished business
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Leyte Rep. Ferdinand Martin G. Romualdez, in a statement ahead of the SONA, captured this duality: “I am proud of the gains we have made under [the President’s] steady and compassionate leadership. But the work is far from over.”
Indeed, from economic recovery and digital innovation to food security and land use reform, the 20th Congress inherits the momentum—and the unfinished business—of a legislature determined to match words with action. The numbers speak volumes. Under Speaker Romualdez’s leadership during the 19th Congress, the House of Representatives passed 61 out of 64 priority measures identified by the Legislative-Executive Development Advisory Council (LEDAC), including 27 out of 28 during the 3rd Regular Session. More than 280 new laws were enacted, and over 13,800 bills and resolutions were filed—making the 19th Congress one of the most productive in the country’s legislative history. Yet behind these statistics lies a deeper narrative: one of unfinished mandates, pressing reforms, and a collective desire for continuity and progress amid an unpredictable global and local landscape.
Modernizing for transparency
ONE of the key reforms carried into the 20th Congress is the Budget Modernization Act (House Bill No. 11), championed by Speaker Romualdez.
The bill proposes a shift to a cash-based budgeting system designed to curb inefficiencies, ensure timely delivery of services, and enhance transparency.
“Every centavo in the national budget comes from the people. It must be used quickly, honestly, and with clear results—especially for those who need it most,” Romualdez emphasized.
The proposal mandates real-time tracking of public expenditures through a digital financial management system, aiming to curb corruption and hold agencies accountable for tangible outcomes—not just disbursed funds.
Feeding the Nation
FOOD security remains top-of-mind for millions of Filipinos facing rising prices. The Rice Industry and Consumer Empowerment (RICE) Act, filed as House Bill No. 1, is a direct response to this challenge. It seeks to strengthen the role of the National Food Authority (NFA) in regulating the rice industry, curb hoarding, and set a floor price to protect farmers’ incomes.
House Spokesperson Atty. Princess Abante expressed optimism: “There will be no opposition to a measure that aims to ensure affordable rice for the public.”
The bill is seen as a centerpiece of the administration’s broader food security agenda—an urgent need amid global supply disruptions and inflation.
Land use planning
ANOTHER priority piece of legislation is the National Land Use Act, which aims to harmonize overlapping and often conflicting land-use policies. Filed by Romualdez, House Bill No. 11 seeks to institutionalize a national framework for land allocation, use, and development to prevent resource mismanagement and resolve disputes across sectors—from agriculture and housing to environmental protection.
for the “Love the Philippines” branding campaign to strengthen both domestic and international tourism promotion.
Infrastructure plans feature the construction of nearly 100 new Tourist Rest Areas (TRAs) nationwide to improve comfort and services for travelers. The DOT is also working with the Department of Public Works and Highways (DPWH), which has allocated P17.7 billion to enhance tourism-related roads and bridges.
Further investments include digital upgrades such as the 151-TOUR hotline
and a national travel app to improve visitor support, alongside funding for tourism training programs and the planned UN Tourism Academy in Cebu to build industry expertise.
Private sector powers PHL MICE boom PRIVATE sector initiatives are also playing a role. In Cebu, the SMX Convention Center at the SM Seaside Arena—a 16,000-seat indoor venue—is scheduled for completion by the end of 2025. The facility is expected to attract international concerts, major exhibitions, and large-scale sporting events.
At the same time, Megaworld is developing the P1.5-billion Mactan Expo Center near Mactan-Cebu International Airport. This twostory venue will provide nearly one hectare of dedicated MICE space, accommodating up to 2,600 attendees when it opens later this year. (Read here: https://businessmirror. com.ph/2025/06/29/selling-brand-phlfocusing-on-uniqueness/ ) Boracay is being positioned as a top “bleisure” (business and leisure) destination through the Tourism Promotions Board’s MICECONNECT initiative, which brought together event planners to explore local venues and services.
The DOT also launched Marhaba Boracay Cove, a Muslim-friendly facility that highlights the administration’s focus on inclusivity. Complementing these developments,
BUSY HOUSE. With more than 280 new laws enacted and over 13,800 bills and resolutions filed, the 19th Congress is one of the most productive in Philippine legislative history. AP PHOTO
A proposed National Land Use Commission (NLUC) will coordinate policy and enforcement, integrating climate resilience, disaster risk management, and indigenous rights into a cohesive land-use strategy.
Raising the standard FOR the Philippines to thrive in the global economy, it must meet international standards. House Bill No. 19, authored by Romualdez, introduces the National Quality Infrastructure (NQI) policy—a system to consolidate the country’s fragmented mechanisms for standardization, ac -
creditation, and certification. The bill would create the Philippine National Quality Infrastructure Coordination Council (PNQICC), with the goal of reducing transaction costs, boosting industrial competitiveness, and safeguarding consumer interests.
A delicate proposal
PERHAPS the most contentious yet crucial initiative on the horizon is Charter Change. Filed through Resolution of Both Houses No. 1, the proposal seeks to amend select economic and territorial provisions of the 1987 Constitution—without altering the
infrastructure and environmental upgrades— including improvements to the island’s wastewater system—aim to support largescale international events. In Palawan, Puerto Princesa is vying to become the country’s “MICE Capital” with the upcoming Pawikan and Shell Convention Centers, each designed to host over 40,000 guests. These centers are part of a 1,072-hectare
political structure or term limits.
Key features include officially recognizing the Exclusive Economic Zone (EEZ) and West Philippine Sea as part of national territory and inserting the phrase “Unless Otherwise Provided by Law” into economic provisions. These changes would grant Congress flexibility to pass legislation enabling foreign investment in areas like education, utilities, land ownership, and mass media.
“I filed RBH-1 knowing it would invite criticism. But I moved forward because when outdated laws obstruct our progress, it becomes more than a
cruise-ready. After hosting the Sea Trade Cruise Global Event in Manila, the Philippines is expecting 127 cruise calls in 2025. The cruise visa waiver program, launched with the Department of Justice and Bureau of Immigration, has facilitated thousands of arrivals. Partnerships with various port authorities are ensuring the country remains competitive in the growing cruise market.
legal necessity—it becomes a moral obligation,” said Ako Bicol Party-list Rep. Alfredo A. Garbin Jr., former chairman of the House Committee on Constitutional Amendments, Garbin emphasized that the resolution does not propose to change the system of government, revise political term limits, or restructure political institutions. Rather, it seeks to amend provisions that have discouraged foreign investment, weakened international partnerships, and hampered national development.
“This is not a power play. It’s a targeted, principled move to eliminate legal barriers that have long hindered our economic growth,” he said. He also stressed that the resolution upholds the democratic process, with all proposed amendments subject to approval by the Filipino people through a national plebiscite.
“If there is ever a time to act decisively, it is now. We cannot afford further delay in pursuing what is necessary for the country’s future,” he declared.
A House ready to deliver ROMUALDEZ vowed to transform presidential pronouncements into practical policy.
“We don’t need to wait for the SONA or the speakership election to get to work,” Romualdez asserted. “If there’s a way to start delivering results now, we’ll do it. The work for Bagong Pilipinas continues.”
With unfinished business carried over from the 19th Congress and an ambitious roadmap ahead, the 20th Congress faces the challenge of turning momentum into measurable, inclusive change.
IN Cebu, a group of women make native fans as part of their livelihood activity. PHOTOS BY JOHN EIRON FRANCISCO/BUSINESSMIRROR
AT the Cebu Business Tourism Forum, DOT Secretary Christina Garcia Frasco mentions government efforts to strengthen the country’s competitiveness through infrastructure and service upgrades.
Green jobs seen to fuel PHL labor force—if education, training keep up
For labor groups, the urgency of transition must be matched by protections—especially for those most at risk of being left behind.
By Justine Xyrah Garcia
THE Philippines has the opportunity to generate millions of green jobs in the next decade, but this promise will only take root if education and training systems evolve fast enough to meet demand.
The International Labour Organization (ILO) estimates that the Philippines could create more than 3 million green jobs by 2030, provided that the right policies and skills development systems are in place.
But currently, the expansion of clean energy, sustainable agriculture, and climate-resilient infrastructure continues to outpace the country’s capacity to supply a workforce prepared for transition.
In the renewable energy sector alone, the country has around 120,000 green jobs, a number the ILO says must increase to 350,000 by the end of the decade to meet projected needs.
This supports the data from the Technical Education and Skills Development Authority (TESDA) which show that only 14 percent of employers consider their workforce “fully prepared” to shift to green jobs as of 2025.
Speaking at a green jobs forum hosted by the GermanPhilippine Chamber of Commerce and Industry (GPCCI) earlier this month, TESDA Deputy Director General Felizardo Colombo said
that this gap means the government must double our efforts if it wants more workers to be green jobs-ready in the coming years.
“Let us integrate climate education from basic education to higher learning. And let us use this transformation not just to adapt, to change, but to lead it.... The race to sustainability is not just about reducing carbon. It is about elevating people,” he said.
Colombo stressed the need to reorient TESDA’s training ecosystem to reflect circular economy values and environmental care—not as afterthoughts, but as foundational principles.
“In the process of training, we already inculcate the attitude of environmental care and the concept of circular economy, where no waste is being put in the process of everything that is being done by humans,” he explained. TESDA is also pushing for stronger partnerships with industries to make green skills training more responsive and accessible.
One such policy effort is the Enterprise-Based Education
and Training Framework Act, signed by President Marcos in November 2024.
The law allows employers to formulate their own training programs aligned with TESDA standards.
It also offers enhanced tax breaks, allowing businesses to deduct up to 75 percent of actual training expenses from their income tax starting in 2028—up from the previous 50 percent deduction.
“This is an improvement of the dual training system we’ve had since 1994,” Colombo said. “Now, industries don’t have to wait for us. They can design the curriculum, and we’ll certify the program if it
meets national standards.”
ILO Philippines Country Director Khalid Hassan also stressed the need for adjustments across programs, systems, and coordination.
“We have to adjust our programs, our initiatives, our coordination systems, so we can take advantage of the opportunities that are coming up,” he said during the forum.
He noted that coordination should not be limited to TESDA and private establishments, but should also include other government agencies such as the Department of Labor and Employment and the Department of Trade and Industry to ensure smoother rollout of just transition projects.
“Otherwise, inequalities in the country will expand. Some of the areas, because artificial intelligence and all these things are coming up. Some of the people will be the losers, some of the people will be the gainers,” Hassan said.
Stronger protection needed FOR labor groups, the urgency of transition must be matched by protections—especially for those most at risk of being left behind.
In an interview with BusinessMirror , Sentro Secretary General Josua Mata said workers must be treated as active participants in shaping green policies in the country.
“The best protection for workers is when they have power at the table—when they are actively shaping just transition plans, not just bearing the consequences,” Mata said.
The labor leader said workers in coal, fossil fuel-based power, and energy-intensive manufacturing are likely to be affected, along with informal transport workers and women in the informal economy.
These groups, Mata said, often lack access to finance, training, or participation in policy consultations—leaving them vulnerable as the country shifts toward low-carbon industries.
“What we need is a public employment program anchored in bold public investment. The transition must be led by the state, not outsourced to private profit,” he added. He also emphasized the need to make upskilling and reskilling programs more accessible across all regions nationwide.
“These programs must prioritize those most at risk of being left behind.... A just transition is only just if it leaves no one behind,” Mata said.
Earlier this month, the labor department also launched its National Green Jobs Human Resource Development Plan, which aims to improve the employability of Filipinos in green industries.
Among those sectors expected to generate the most number of new green jobs are renewable energy, construction, transportation, agriculture, and manufacturing.
(Related: https://businessmirror. com.ph/2025/07/ 09/ renewableenergy- construction -amongkey-sectors- for-phls-newgreen- jobs-plan/).
WITH clean energy initiatives like the wind farm in Bangued in Abra, elevating the work force is also important for the country to be green job-ready in the coming years. PHOTOS BY NONIE REYES
A roof promised, a price too steep?: The affordability of PHL socialized housing
Based on the Philippine Statistics Authority’s latest estimates, a family of five needs P13,873 per month to stay above the poverty line, and a P2,000 housing payment would account for around 15 percent of that income—excluding food, water, electricity and other basic needs.
By Bless Aubrey Ogerio
SIX million homes by 2028— that’s the promise the Marcos administration has placed at the heart of its Pambansang Pabahay Para sa Pilipino (4PH) program, the country’s most ambitious housing push to date.
At a housing summit in Quezon City on July 21, community leaders were asked what they considered a truly affordable monthly payment. The answer, echoed by nearly all: “P200.”
“Affordable housing for the poor—that’s the call of Kadamay
Three years in, and the original target has been scaled down to 3.2 million units. No thanks to construction hurdles and financing gaps that piled up, less than half of that revised figure has seen actual progress, based on government data and available reports. For the urban poor—the very sector the program hopes to serve—the question is not just whether the houses are coming, but whether they can afford to live in them once they do.
[Kalipunan ng Damayang Mahihirap],” Beth, a community organizer from Quezon City, said in Filipino. “Especially in the relocation sites being built by the government, particularly by the National Housing Authority.”
Inside the 4PH initiative LAUNCHED in 2022, the Department of Human Settlements and Urban Development (DHSUD) spearheaded the 4PH program through a “whole-of-government” approach involving national agencies, local government units (LGU) and the private sector. Under this setup, LGUs provide land, national agencies streamline permitting and planning and developers handle construction. Units are typically vertical, condominium-style housing, often delivered bare—with residents covering finishing costs such as flooring, ceiling and utilities.
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A roof promised, a price too steep?:
The affordability of PHL socialized housing
Recently, DHSUD has broken ground in over 150 sites, with thousands of units under construction. In support of the effort, at least 42 private developers have pledged over 250,000 housing units, according to a joint letter submitted to the agency.
On one hand, the agency has also undergone a leadership change. Earlier this year, Jose Rizalino Acuzar was replaced by construction firm veteran Jose Ramon Aliling, and the transition followed comments that the department had become “too 4PH-centric.”
For many urban poor groups, the question is less about the number of units and more about who can access them. Kadamay secretary-general Eufemia “Ka Mimi” Doringo said that the current structure excludes the poorest.
“This has never been the answer to our call for decent, affordable and mass-oriented housing for the poor,” she said in Filipino during the same forum.
DHSUD’s own data points to the scale of the need. As of 2022, Luzon (excluding Metro Manila) accounted for the largest share of the national housing requirement at 2.67 million units. This was followed by Mindanao with 1.75 million, Visayas with 1.54 million and Metro Manila with 700,000.
Why units come with pricetag DESPITE being targeted at the poor, housing under the 4PH program is not free. Beneficiaries are expected to pay monthly amortizations ranging from P2,000 to P4,000, depending on the unit’s size, location and financing terms.
The program relies on a loanbased model, with financing largely coursed through the Home Development Mutual Fund (PagIbig) and partner institutions.
This approach, however, has raised concerns among urban poor leaders. “Their priority is those who can afford to pay monthly,” said Ka Mimi.
She added, “Why do we have to pay? First, because the national government hasn’t allocated enough funds. Second, they pass the responsibility to the LGUs. And third, the projects are financed through loans from banks, so there’s always interest and profit for businesses.”
DHSUD’s budget stands at P2.66 billion for 2024 and rose slightly to P2.98 billion in 2025. Given fiscal limitations, payment scheme is necessary, as fully subsidizing the cost of housing would require massive annual budget increases.
Yet, in a July meeting with its technical working group, the housing agency acknowledged the challenge of balancing affordability for end-users with viability for developers amid rising construction costs.
To qualify for 4PH financing, applicants must show proof of income and be active Pag-Ibig members. However, for many informal settler families and minimum-wage earners, irregular income and lack of documentation make loan approvals difficult, if not impossible.
Based on the Philippine Statistics Authority’s latest estimates, a family of five needs P13,873 per month to stay above the poverty line, and a P2,000 housing payment would account for around 15 percent of that income—excluding food, water, electricity and other basic needs. Meanwhile, data from the Bangko Sentral ng Pilipinas showed that residential property prices increased steadily from 2019 to 2023, with faster growth seen outside Metro Manila (6.9 percent annually) compared to the National Capital Region (6.5 percent).
Options remain OTHER long-running housing initiatives continue to support lowincome Filipino families.
The Community Mortgage Program (CMP), led by the Social Housing Finance Corporation (SHFC), enables organized urban poor communities to collectively purchase and develop the land they occupy.
SHFC also manages the Abot-Kaya Pabahay Fund, a Direct Lending Program and rental subsidy schemes
aimed at families unable to access conventional housing loans.
The National Housing Authority (NHA), for its part, develops relocation sites and public housing projects, particularly for families displaced by government infrastructure projects or those living in danger zones.
Local governments also implement housing initiatives tailored to their constituents, such as mid-rise in-city housing and lot award programs for low-
income residents. Government employees and retirees may avail themselves of housing loans through the Government Service Insurance System (GSIS), which offers exclusive financing options.
But coverage remains uneven.
Data from the 2023 Philippine Statistical Yearbook showed that the number of households served by key shelter agencies has declined over the years, from a peak of 308,467 units in 2014 to just 158,419 units by 2021.
Over 34,000 housing loan borrowers to benefit from moratorium
Collection of one-month amortization is suspended to ease the burden on families affected in the storm-affected areas.
MORE than 34,000 housing loan borrowers affected by Tropical Storms Crising, Dante and Emong, and the southwest monsoon will benefit from the one-month moratorium on amortization payment granted by the National Home Mortgage Finance Corporation (NHMFC).
The highest number of beneficiaries are from Cavite, reflecting the province’s large concentration of NHMFC housing loan borrowers, followed by Laguna, National Capital Region, and Luzon Region.
The moratorium took effect on July 19, 2025 and will end on August 18, 2025. This program temporarily suspends the collection of one month amortization payment, easing the burden on families affected in the storm-affected areas.
This program is in line with the directives of President Ferdinand R. Marcos Jr. and Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon P. Aliling to immediately bring the muchneeded relief to the victims of the recent calamities. “Through this moratorium, the NHMFC reaffirms its commitment to support Filipino families during times of hardship. We remain steadfast in our mission to uphold housing security and financial resilience,” said NHMFC President Renato L. Tobias. Borrowers who still wish to continue their payments during the moratorium period may do so voluntarily. For borrowers with updated accounts, any payments made will be treated as advance payments.
FOR urban poor families, the question isn’t whether the housing projects will be happening but whether living in them would be sustainable. PHOTOS BY BERNARD TESTA
Taming food inflation, DA’s recipe mixes policy and support
Rice prices saw a record-breaking drop in June 2025, with the country’s staple grain posting a 14.3 percent deflation—the steepest decline since the statistics agency began its data series in 1995.
By Bless Aubrey Ogerio
AMID persistent food price pressures, the Department of Agriculture (DA) is leaning on a blend of policy tools and on-the-ground interventions, from stabilizing supply chains to supporting farmers through programs that aim to increase productivity and ease market access.
At the national level, food inflation eased further to 0.1 percent in June 2025, based on data from the Philippine Statistics Authority (PSA). This marked a continued slowdown from 0.7 percent in May and a sharp drop from 6.5 percent in the same month last year. Despite this, overall inflation in the country inched up slightly to 1.4 percent in June, from 1.3 percent in the previous month.
While PSA expects this downward trend in food prices, particularly rice, to continue toward the end of the year, it also warned of persistent pressure from meat, poultry and fish.
Meat and other related items posted a year-on-year inflation rate of 9.1 percent in June, raising questions about what more can be done to keep food affordable.
The DA, for its part, maintains confidence that the supply of key food items will remain stable. Speaking to BusinessMirror , Agriculture assistant secretary Arnel de Mesa pointed to both anticipated gains in local production and contingency measures that can fill potential gaps.
“We’re expecting a bumper harvest for palay and corn,” de Mesa told this newspaper. “As for other commodities where we might fall short, we have support mechanisms in place.”
“Food security also means availability, affordability and accessibility. So far, as of now, we see no major red flags on those fronts,” he added in vernacular.
Interventions for rice
RICE prices saw a record-breaking drop in June 2025, with the country’s staple grain posting a 14.3 percent deflation—the steepest decline since the statistics agency began its data series in 1995. With rice accounting for 8.87 percent of the Consumer Price Index (CPI) for All Income Households, as well as an even greater 17.87 percent in the CPI for the Bottom 30 percent income group, this impacts household purchasing power, especially for low-income consumers.
To help drive prices downward while keeping supplies steady, one key step was Executive Order 62, signed in June 2024, which slashed rice import tariffs from 35 percent to 15 percent and adjusted duties on other farm goods.
The lower tariff rate may be meant to bring in more affordable imported rice. However, economists cautioned that the impact on local retail costs would not be immediate, while farmers raised concerns
over income losses and reduced farmgate prices. (See: https:// businessmirror.com.ph/2024/ 07/04/farmer-groups-ask-sc-tostrike-down-eo-62-reducingtariffs-on-rice-farm-products/)
To further stabilize consumer prices, the DA set a maximum suggested retail price (MSRP) for imported rice, which was recently lowered to P43 per kilo. (See: https:// businessmirror.com.ph/2025/ 07/04/msrp-for-imported-ricewill-be-cut-to-%e2%82%b143a-kilo-by-july-16/)
Complementing these measures are consumer-facing programs such as Rice for All, which offer rice at subsidized rates through public channels, along with the Program 29 and P20 per kilo rice program sold at Kadiwa sites.
“The 5 percent broken variety sells at P43 per kilo, the 25 percent broken ranges from P40 to P35, and even 100 percent broken rice is available at P33,” de Mesa explained. “These represent different levels of affordability.”
As of July, the National Food Authority (NFA) held over 420,000 metric tons (MT) in its stockpile, equivalent to more than 8 million bags. Of that, around 2,000 MT have already been distributed to key markets.
The agency expressed belief that this stock, along with the upcoming wet season harvest and ongoing procurement, can sustain supply into next year.
The government has previously
assured that the P20-per-kilo rice supply would remain stable through the end of 2025 and extend into 2026. (See: https:// businessmirror.com.ph/2025/ 06/17/da-assures-%E2%82%B120rice-supply-through-2026hits-420k-mt/)
High pork prices, still SIX years since African Swine Fever (ASF) devastated the Philippine hog industry, pork prices in the country remain stubbornly high due to its lingering toll on backyard farms and household budgets alike.
According to De Mesa, the ASF outbreak wiped out an estimated four to five million hogs at its peak. The effects continue to ripple through the country’s pork supply chain even with the containment measures curbing its spread.
“Until a vaccine becomes commercially available, ASF will remain a threat to the swine industry,” de Mesa told this newspaper. “Even though our farmers have learned to respond better through biosecurity measures and government interventions, the absence of a cure means the risk still exists.”
Rebuilding the country’s hog inventory to pre-ASF levels, particularly for smallholder or backyard raisers, will not happen overnight. Recovery has been slow and cautious, with many producers still reluctant to reinvest due to the threat of reinfection and high input costs.
Eyeing market-based solutions, one of DA’s ways is
the imposition of MSRP on imported pork, which the agency expects to roll out by next month, aiming to offer consumers a lower-priced alternative without undercutting local producers.
Under the DA’s proposed pricing, the MSRP for imported kasim (pork shoulder) would range between P270 and P300 per kilo, while liempo (pork belly) could retail between P300 and P350. These rates are close to current Metro Manila market prices, where frozen kasim and liempo are sold at P250 and P300 per kilo, respectively.
In contrast, latest price monitoring shows local kasim retailing at P400 per kilo, while liempo is sold at around P440.
Given tight local supply, the DA earlier announced it would not implement MSRP for domestic pork for now. De Mesa added that the agency is also considering similar pricing measures for imported chicken, possibly as early as September. (See: https:// businessmirror.com.ph/2025/ 06/17/da-no-msrp-for-now-forlocal-pork-amid-tight-supply/)
Agricultural support
THE agriculture agency has ramped up assistance for producers. “The support is immediate, like our production assistance, such as the distribution of seeds, fertilizers, and machinery to our farmers,” de Mesa said in Filipino.
“In the longer term, it’s about improving and building critical agricultural infrastructure that will help them in the long run, such as irrigation, post-harvest facilities, road networks, and logistics and distribution systems,” he added.
Financial support is also part of the package. Through partnerships with the Land Bank of the Philippines and the Development Bank of the Philippines (DBP), farmers can access low-interest loans.
Meanwhile, cash assistance is being disbursed from both the DA’s General Appropriations Fund and the Rice Competitiveness Enhance -
ment Fund (RCEF). Agricultural insurance and expanded farmer training programs are likewise underway to support livelihoods. In a recent statement, Department of Economy, Planning and Development secretary Arsenio Balisacan said the government’s coordinated approach, such as spanning production, logistics and trade, has helped bring inflation down, particularly for rice.
“We will sustain these interventions and complement them with targeted initiatives to ensure a continuous, stable supply and shield consumers from future price pressures,” Balisacan said.
All eyes on SONA With President Ferdinand Marcos Jr. scheduled to deliver his State of the Nation Address (SONA) on July 28, the DA is hopeful that its recent strides will be highlighted on the national stage. It emphasized that its policies are backed by data and implementation reports. “These are factual, documented initiatives,” de Mesa said. “Whether it’s rice availability, vegetable support or overall inflation control, there are stories to tell.” Still, the agency deferred to the President’s office on whether these achievements would be included in the speech.
“We’re not preempting anything,” de Mesa clarified. “But we’re confident in what’s been done so far.”
AMID A HARVEST OF AWARDS, YOUR SUPPORT COUNTS MOST
THE pandemic tested the media industry, forcing newsrooms around the world to overhaul the way they do their job while following strict health protocols in order to survive a deadly infection.
The BusinessMirror, the country’s premier national business daily, was tested like everyone else, and survived, even continuing to live up to its promise to provide a broader look at today’s business.
In November 2021, the business broadsheet was recognized as the “Business News Source of the Year” for 2020 by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies. It was a 4-peat for BM, having gotten the same honors for the years 2017, 2018 and 2019.
And, as in the past Ejap awards, it also swept half of the individual categories, with its seasoned reporters adjudged as best in their respective coverages.
Earlier in 2021, the BusinessMirror was given the Pro Patria Award by the Rotary Club of Manila, for “its commitment of valuable resources for the protection of free expression and its resilience in disseminating fair and truthful information resulting in an informed and enlightened citizenry.”
It was just the latest recognition from the prestigious Rotary Club, which named it “Business Newspaper of the Year” for 2018-2019, and again in 2020. In all, it has received six top
Rotary journalism awards in its short 16-year existence.
The BusinessMirror has also consistently reaped top awards in the Brightleaf Journalism Awards for Agriculture and the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC) Binhi Awards, also for the best in agriculture journalism.
The BusinessMirror was also repeatedly adjudged the leading daily in biotechnology journalism, a recognition bestowed by the Jose G. Burgos Jr. Biotechnology Journalism Awards.
The “broader look” mantra also drew recognition from the Philippine Statistics Authority (PSA) which named the BusinessMirror, at its first awards rites in 2018, as the inaugural “Data Champion.”
In the first “Bantog Science for the People” awards for media from the Department of Science and Technology, the BusinessMirror got the top award for the Institution category for Print; and the grand prize in the individual category for science journalist Stephanie Tumampos.
In 2018, Environment Reporter Jonathan Mayuga received the Luntiang Aligato award from the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore.
The Broader Look at biodiversity was also recognized. It was named among the Asean Champions of
Biodiversity, for the Media Category, by the Asean Centre for Biodiversity. The Broader Look also extended to the paper’s corporate social responsibility. It organized and staged the first-ever recognition rites for the best of the Philippines’s friends in the world, with the “MISSION PHILIPPINES: The BusinessMirror Envoys & Expats Awards.” The initiative won a Gold Anvil in 2019. Distinguished institutions in government have also repeatedly recognized the BusinessMirror’s role in spreading the word about the work they do—information that shines a light on good governance and committed public service to uplift people’s hopes. Most notably, these are the Social Security System and Pag-IBIG Fund.
Sixteen years, two of them in a pandemic, have tested the promise of a Broader Look. But they are also a measure of the unstinting support of friends—advertisers and news sources alike—and readers who continue to believe in that promise.
THANK YOU, EVERYONE.
YOUR LOVE AND SUPPORT IS OUR MOST IMPORTANT TROPHY.
