THE bad loans ratio of Philippine banks in April 2025 was the highest recorded by the Bangko Sentral ng Pilipinas (BSP) in five months, and economists believe this should prompt financial institutions to be “vigilant in credit risk management.”
Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo Rivera told BusinessMirror that the increase in non-performing loans (NPLs) ratio was a result of tighter financial conditions and greater cost of living pressures, among others.
The latest BSP data showed the banking system’s NPL ratio increased to 1.47 percent in April 2025, the highest since the 1.59 percent posted in November 2024. The data showed the NPL ratio was at 1.58 percent in April 2024 and 1.44 percent in March 2025.
“It is not yet a cause for alarm, but it is a signal for banks to remain vigilant in their credit
risk management. If the trend continues over the next few months, it could indicate that some sectors of the economy are experiencing difficulty servicing debt, possibly due to slower than expected income recovery or tightening liquidity,” Rivera told this newspaper on Monday.
Rivera also said higher cost of living expenses may have been felt not only by households but also businesses. He also said elevated interest rates may have also played its part in increasing the NPL ratio in April 2025.
He said it is likely that given this data, monetary authorities such as the BSP as well as banks themselves will monitor NPLs more closely as this can impact on the growth of the economy moving forward.
“If credit quality deteriorates further, it could prompt more cautious lending behavior and affect the overall pace of credit growth, which in
By Cai U. Ordinario @caiordinario
In its latest analysis, ANZ Research pointed out that the overvalued peso has been “a persistent concern” that has weighed down the country’s competitiveness for years as this has also occurred in the 1980s and 1990s.
The analysis stated that based on traditional currency fair value models such as the real effective exchange rate (REER), the most cited gauge of a currency’s value, the peso has been overvalued since 2019.
“We believe correcting the peso’s overvaluation, or even pursuing a mildly undervalued exchange rate, whenever possible, makes economic sense. A growth model that is reliant on consumption and imports funded by labor exports and remittances inhibits the transition towards higher productivity over time,” ANZ Research said.
On Monday, the peso closed at P55.81 to the US dollar. The peso has been trading steadily at around P55 to the greenback since April 30 this year.
“The tradable goods sector has been disproportionately affected— exports relying heavily on imported inputs [for example the assembly-oriented semiconductors] have fared better than those relying on domestic inputs, leading to a sharper decline in domestic industries. This is because a real appreciation of the exchange rate makes imports cheaper,” ANZ Research. In order to address this, ANZ Research said there is a need to purse efforts to undervalue the peso. This, however, will require the Bangko Sentral ng Pilipinas (BSP) to “accumulate significant foreign exchange reserves.” The country’s Gross International
FFORTS to amend legislative franchises and a 94-year-old law can help open the floodgates to help the country maximize the use of Artificial Intelligence (AI). At the launch of the Human Development Report (HDR) on Monday, Department of Economy, Planning, and Development (DepDev) Planning and Policy Group Assistant Secretary Reynaldo R. Cancio said efforts are under way to bridge the digital divide by improving competition in the digital space.
“We will continue to enhance competition in this sector by pursuing the implementation of the Amended Public Services Act, which opened the sector to foreign investments, particularly in key sectors such as telecoms,” Cancio said in his speech.
“We will also be pursuing reforms to address remaining barriers to entry in this sector.” Cancio said these barriers are the requirements on the granting of legislative franchises. He said a telecommunication franchise should be secured from a regulator rather than Congress.
While the amendment of the Radio Control Law of 1931 is
The amendment of the Public Services Act has already opened telecommunication sector to greater competition and this should be supported by addressing legislative franchises and the amendment of the Radio Control Law of 1931.
By Andrea E. San Juan @andreasanjuan
THE Philippine government should redirect its attention to reducing the cost of food, power, transportation and housing, among others, instead of merely setting low wages to improve overall productivity, according to the Management Association of the Philippines.
“We in the Management Association of the Philippines [MAP], support initiatives that help improve the lives of all minimum-wage earning Filipino workers and their families. However, we do not support the P200 daily wage increase which was approved recently by the
House of Representatives,” MAP said in a statement on Monday.
The business group explained why it is against the wage hike, underscoring that the country’s “basic problem” is not low wages, but high costs.
“We believe that attention should be given to wage-to-cost ratio, not just wages. We have the third highest minimum wage in Asia, and some of the highest costs—especially of food, power, transportation, and housing,” MAP said.
With this, the business group is prodding the Executive and Legislative branches of government to focus on reducing these costs to help make the country more “export-competitive, address inef -
ficiencies across all sectors to improve overall productivity and reduce all forms of waste.”
The business group also urged the Bicameral Conference Committee to take into account the potential impact of the P200 daily wage increase on inflation and business sustainability, particularly on the millions of small enterprises that struggle just to survive.
“Since setting a minimum wage is a very complex process where many factors have to be taken into account, we call on the BICAMERAL CONFERENCE COMMITTEE of the House and the Senate to conduct further consultations with all affected sectors, like employers, employees, consumers, involved
agencies, among others, before reaching a decision,” MAP pointed out.
Moreover, the business group suggested that research be conducted as to whether setting a national minimum wage, or regional ones instead, is better. Meanwhile, MAP is also making an appeal to employers to “help alleviate the plight of the minimumwage earners by implementing urgent measures, like paying their employees’ share in SSS, Pag-IBIG and PhilHealth contributions, sharing with their employees at least 20 percent of their organizations’ net income before income tax,among others.”
FORECAST: RAINBOW RATINGS A vibrant morning
The
Overvalued…
Reserves (GIR) remained adequate based on international standards. The GIR can finance 7.3 months’ worth of goods and service imports.
Further, ANZ Research said the country’s reserve adequacy ratio of 160 percent based on the IMF’s ARA4 framework, is greater than the recommended range of 100–150 percent.
However, the research group said that increasing the GIR “may not be necessarily excessive” as this could lead to greater flexibility in terms of monetary policy.
“Higher foreign exchange reserves will make it easier for the BSP to stabilize the exchange rate in case of adverse external events,” ANZ Research said.
“A higher level of foreign exchange reserves would enhance its ability to focus on the domestic growth-inflation mix more adeptly,” it added.
Earlier, BMI, a Fitch Solutions Company, said emerging market economy currencies, including the peso, are weakening against the United States dollar, these are still expected to end 2025 stronger than when they began.
The US-based think tank said emerging economy currencies are projected to end the year 0.4 percent stronger against the dollar, compared to how they traded at the start of 2025.
BMI noted that this is considered a major shift as these currencies declined by an average of 8.1 percent in 2024. Based on BSP data, the Philippine peso has been depreciating since 2022. (See: https://businessmirror.com.ph/2025/05/29/expertsemerging-economy-currencies-tofinish-strong/).
Contempt, detention orders against Roque, Yang lifted
By Jovee Marie N. dela Cruz @joveemarie
THE House Quad Comm on Monday lifted contempt and detention orders against former presidential spokesperson Harry Roque, his wife Mylah, former presidential adviser Michael Yang, and two others, formally concluding its months-long investigation into the links between Philippine offshore gaming operators (POGOs), the illegal drug trade, and alleged extrajudicial killings (EJKs) tied to the Duterte administration’s brutal war on drugs.
The mega-panel—composed of the Committees on Dangerous Drugs, Public Order and Safety, Human Rights, and Public Accounts—also lifted contempt and detention orders against Police Col. Hector Grijaldo and Senior Police Officer 4 Arthur Narsolis.
“The motion to lift the contempt order for Col. Grijaldo, spouses Myla and Atty. Harry Roque, retired police officer Arthur Narsolis, and Mr. Michael Yang—so moved, Mr. Chairman,” said Abang Lingkod Rep. Joseph Stephen Paduano, one of the co-chairs of Quad Comm. Roque had twice been cited for contempt in 2024—first for allegedly
giving false testimony linked to Cassandra Ong, a POGO representative, and later for refusing to submit documents related to POGO operations. He was briefly detained, then released upon compliance.
He now faces an arrest warrant for qualified human trafficking tied to Lucky South 99, a POGO hub raided in Porac, Pampanga. Police are preparing to serve the warrant, and Roque has reportedly sought asylum in the Netherlands.
His wife, Mylah was subpoenaed several times over her reported role in acquiring properties associated with the POGO hub. The contempt order against her was lifted along with Roque’s as the committee wrapped up its proceedings.
Yang, who once served as former President Rodrigo Roa Duterte’s economic adviser, was subpoenaed in 2024 over a P3.6-billion drug bust in Mexico, Pampanga, and illegal POGO operations.
He was linked to Empire 999 Realty Corp. and several Chinese-led enterprises allegedly used as fronts for shabu trafficking.
The arrest of Yang’s brother Tony in Cagayan de Oro City last year exposed warehouses allegedly used for both POGO and drug smuggling, prompt-
ing lawmakers to describe Yang as the “central figure” in a syndicate linking offshore gaming and narcotics.
Grijaldo had been detained at the House since December 2024 for repeatedly ignoring subpoenas in hearings on EJKs during Duterte’s drug war. His release came Monday following the formal lifting of the contempt and detention orders.
Narsolis, who allegedly ordered two hitmen to kill three Chinese drug suspects at the Davao Penal and Prison Farm in August 2016, had been cited for contempt after repeatedly skipping committee
MAP…
Continued from A1
Apart from MAP, other business groups such as the Employers’ Confederation of the Philippines (ECOP), the Makati
hearings. He remained at large and never appeared before the panel.
Witnesses claimed he carried out the operation at the behest of retired police colonel and former PCSO general manager Royina Garma.
Committee records suggest Garma instructed Narsolis to “eliminate” the suspects, with Narsolis acting under her influence.
With the committee’s contempt powers lifted, its findings were consolidated into a final report for legislative recommendations and possible prosecutorial action.
Business Club (MBC) and the Philippine Chamber of Commerce and Industry (PCCI) questioned the House-approved P200 across-the-board daily wage hike.
smallholder farmers, rice is not just food, it is their livelihood. Today, that livelihood is increasingly threatened by extreme weather and environmental degradation,” Yasmin said.
farmers to capture the carbon credit through the system.”
Furthermore, the initiative inked with the Consortium of International Agricultural Research Centers (CGIAR) also established a clearinghouse facility.
Co-financed with the Gates Foundation, this facility will drive the adoption of resilient, high-yield, and low-emission farming practices. It also includes sustainable water use, inclusive value chains, and improved nutrition for the region’s poorest.
According to ADB Vice President for Sectors and Themes Fatima Yasmin, rice is essential to Asia’s food security as it supplies over a quarter of the region’s calorie intake, and half in Southeast Asia.
“For hundreds of millions of
For International Rice Research Institute (IRRI) Director General Yvonne Pinto, this joint initiative would reinforce CGIAR’s strategic collaboration with ADB and scale up the group’s innovations in rice systems. IRRI is a member of the CGIAR network of research centers.
“Alongside partners such as ADB and Gates Foundation, we can drive sustainable and resilient transformation of the rice sector in Asia and transform the lives of millions of smallholder farmers now and in the future,” Pinto said.
Initial projects are being developed in Bangladesh, Cambodia, the People’s Republic of China, Pakistan, and the Philippines, according to the ADB.
turn could have broader implications for economic recovery and domestic consumption,” Rivera told BusinessMirror
Meanwhile, Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said given the uncertainties in the global economy, there is a possibility that NPLs could even reach 2 percent this year.
Ricafort said the slower global economic growth could lead to further increase in NPLs. This slowdown stems from the uncertainties surrounding the implementation of Trump’s trade policies.
“Uncertainties over Trump’s higher tariffs and trade wars that could slow down the world economy and indirectly the local economy, especially exporters,” Ricafort said.
“[This] could slow down employment, sales, incomes, and ability to pay by some borrowers, thereby leading to more NPLs than otherwise,” he added.
Meanwhile, Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co. said the latest BSP data indicate a “slowing economy and inflation.”
In the first quarter of the year, the Philippine economy posted a growth of 5.4 percent, slower than the 5.9 percent posted in the first three months of 2024 but faster than the 5.3 percent posted in the fourth quarter of last year.
Inflation, meanwhile, averaged 1.3 percent in May 2025, the slowest rate in 66 months or since the 1.2 percent posted in November 2019. In April, inflation averaged 1.4 percent while the rise in commodity prices averaged 3.9 percent in May 2024.
Based on Philippine Statistics Authority (PSA) data, inflation may have slowed but food prices remain elevated. (See: https://businessmirror.com.ph/2025/06/05/foodprices-high-amid-inflation-at66-month-low/).
Further, core inflation which excludes volatile food and energy items remained at 2.2 percent in May 2025, the same rate it posted in April 2025 and March 2025. In May 2024, core inflation averaged 3.1 percent. Among the items exhibiting increases were food items such as meat and other parts of slaughtered land animals, which increased 7.9 percent in May 2025, driven by expensive pork prices. This commodity group accounted for 203.3 percent or 1.4 percentage points of the country’s inflation during the period.
necessary to allow the allocation of International Mobile Telecommunications (IMT) to allow the country to get faster connectivity.
In 2023, Socioeconomic Planning Secretary Arsenio M. Balisacan said this also means extending wireless connectivity to 6G, which is envisioned to arrive in 2030. (See: https://businessmirror.com.ph/2023/12/07/ radio-control-law-now92-years-old-stalling-phl-bidfor-tech-ready-future/).
An expanded IMT spectrum will allow for future allocations beyond 6G. This and other similar reforms will pave the way for new and upcoming services beyond mobile broadband.
Some of these new use cases include wearables such as smart watches, wearable medical devices, and low-end AR/VR glasses, video surveillance, industrial sensors, smart grids, etc.
“We at the Department of Economy, Planning, and Development affirm our commitment to work hand-in-hand with all of you—government, private sector, civil society, and the international community—to ensure that AI becomes a true enabler of human development in the Philippines,” Cancio said.
“With the right investments,
inclusive policies, and peoplecentered AI innovation, we can together bring our nation ever closer to our long-term vision of a prosperous Philippines where people live long and healthy lives, are smart and innovative, and live in a high-trust society,” he added.
Earlier, the country posted modest gains in human development in 2023 but remained below the regional average for East Asia and the Pacific, according to the latest report from the United Nations Development Programme (UNDP).
In its Human Development Report 2025, the UNDP ranked the Philippines 117th out of 193 countries, with a Human Development Index (HDI) score of 0.720—a 1.4 percent improvement from 0.714 in 2022.
This placed the country in the “high human development” category, though it still lags behind the regional average of 0.775.
From 1990 to 2023, the Philippines posted an average annual HDI growth rate of 0.59 percent, slower than East Asia and the Pacific’s 1.25 percent over the same period.
Per UNDP, the HDI is a summary measure of achievements in three key dimensions, such as a long an healthy life, knowledge, and a decent standard of living.
The PSA also said fish and other seafood posted an inflation of 5.7 percent in May 2025, a share of 98.1 percent or 0.7 percentage points of the country’s average inflation rate last month. The faster inflation was caused by more expensive fish such as bangus.
The data also showed milk, other dairy products and eggs posted an inflation of 4.9 percent in May 2025, contributing 45 percent or 0.3 percentage points to the country’s inflation rate in May 2025. The increase in inflation in this commodity group was driven by expensive eggs. Cai U. Ordinario
lower
Govt agencies, intl groups to pilot satellite-based services to farmers
GBy Ada Pelonia @adapelonia
OVERNMENT agencies and international organi -
zations forged an agreement on Monday that will pilot a program for satellite-based crop insurance and agro-advisory services for farmers.
International Rice Research Institute (Irri) Director General Yvonne Pinto said this initiative would enable the availability of a weather-based index through a pilot program set to initially benefit
1,000 farmers from Camarines Sur and Isabela.
“Irri supports the development of agronomic practices and decision support tools in addition to satellite data that enables us to predict the reliability of yields and the performance of the material in the field, as well as to understand what are the risks associated with extreme weather events that affect farmers,” Pinto told reporters in a news conference in Laguna.
“So, we are really pleased to try and work in collaboration with other partners to ensure we can
Let’s support change: for the common good
By Henry J. Schumacher
Understanding of ‘public interest’ and ‘political integrity’
POLITICAL integrity means exercising political power consistently in the public interest, independent from private interests, and not using power to maintain the office holder’s own wealth and position.
Understandings of ‘public interest’ are ever evolving and at times hotly debated. What is clear, is that
political integrity is only possible when safeguards exist throughout the political process:
1. The process to elect, appoint or select those who hold power is free from the undue influence of vested interests.
2. That all stakeholders have inclusive, open and meaningful opportunities to equally influence decision-making.
Political decisions and power holders are subject to scrutiny by the public and institutional checks and face consequences
bring solutions to provide resilience to farmers’ livelihoods in the rice sector,” she added.
The Philippine Crop Insurance Corporation (PCIC) signed a memorandum of agreement (MOA) with Irri and the International Center for Tropical Agriculture (Ciat) of the Alliance of Bioversity International.
Among the other signatories were the Philippine Rice Research Institute (PhilRice) and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa).
for using power for private gain.
Undisclosed, unchecked, or undue influence over the powerful skews resources and policies away from the common good. It perpetuates inequality, undermines democracy and deprives people of their human rights.
I enjoyed the article of Ramon del Rosario in the Inquirer last week, saying “Our voices mattered—but more needs to be done.” His first paragraph supports my story: “The 2025 midterm elections in the Philippines may well be remembered not just for the winners they produced, but for the quiet, powerful wave of change that swept through polling precincts across the country. This is wave-powered by young, well-educated voters
An average of 20 typhoons visit the Philippines every year, affecting people, livelihoods, and infrastructure. In 2024 alone, the DA noted that agricultural losses due to natural disasters reached P57.8 billion.
To strengthen climate resilience and improve risk management for Filipino farmers, the initiative includes a new payout mechanism bundled with agroadvisory aimed at providing better support to farmers.
In addition, the agencies also developed Area-Based Yield Index
who showed up, spoke up, and reshaped the narrative of Philippine democracy.”
In my view, local governments (LGU) and the Private Sector, including nongovernment organizations (NGO), need to work together.
Rightsizing— is it needed
THE regulatory mania of the authorities can be excessive, and
Insurance (Arby) using historical seasonal rice yield data from the Philippine Rice Information System (PRiSM) to provide evidencebased reference for the insurance package.
“Arby also eliminates the need for on-site damage assessments.
This type of crop insurance offers a comprehensive range of risks, including floods, droughts, saltwater intrusion, and pests and diseases.”
Along with Arby, smallholder farmers would also be equipped with a complimentary field-level, agro-advisory tool providing
many rules are pointless and contradictory, and sometimes incomprehensible and obstructive.
The following urgently needs to happen: Fundamental dismantling of bureaucratic obstacles, simplification of rules, automation/digitization of processes wherever possible.
Education Reform— investments in human capital are needed
THE investment in human development is a strategy for economic recovery and inclusive growth. The private sector has started to cooperate with DepEd to specifically focus on technical training and ‘learning by doing’.
Workforce skills are critical if the Philippines is to gain from its
timely and actionable information based on weather forecasts to help them manage their fields. The tool named Climate+ was co-developed in partnership with the Department of Agriculture Region 5–Adaptation and Mitigation Initiative in Agriculture (DA-Amia), PhilRice, Agricultural Training Institute (DA-Ati), and Ciat. “A nationwide scaling will be implemented once the pilot succeeds to support the government’s goals to make the rice system more resilient.”
‘demographic dividend.’
Exciting times with the need for change for the common good. There is no question about the willingness of the private sector to cooperate with the Administration and Congress to ‘imagineering’ the future!
Allow me to finish by again quoting Ramon del Rosario: “Now, the challenge is to keep the fire alive to accompany the youth who showed up this year. Democracy, after all, is a habit, one that is best be taught early, practiced often, and shared across generations.”
The time for change is now; let’s work together for the common good. For comments, please contact me at hjschumacher59@ gmail.com.
QuadComm ends probe on China infiltration
By Jovee Marie N. dela Cruz @joveemarie
THE final public hearing of the House of Representatives Quadruple Committee on Monday culminated in a damning rebuke of widespread Chinese criminal infiltration in the Philippines—and the complicity of Filipino officials who allowed it to flourish.
Surigao del Norte Rep. Robert Ace Barbers, co-chair of the Quad Committee and chairman of the House Committee on Dangerous Drugs, described the committee’s findings as “almost unbelievable,” likening them to scenes from mafia and spy films, “except this time it’s real—with one unifying
storyline: a vast criminal network involving Chinese syndicates and Filipino enablers.”
“The Chinese raped us, but we helped them rape us,” said Barbers.
Barbers issued the fiery statement as he opened the 15th and final hearing of the QuadCom, composed of four House panels: on
Dangerous Drugs, on Public Order and Safety, on Human Rights, and on Public Accounts.
The joint investigation focused on the links between Philippine Overseas Gaming Operations (Pogo) operations, human trafficking, drug smuggling, and extra-judicial killings during the bloody war on drugs by the Duterte administration.
Betrayal
“THE words betrayal, traitor, and unpatriotic are not enough to describe the despicable, wicked, and perhaps even evil acts of collaboration that some of our leaders, elected officials, and civil servants extended to these criminals,” Barbers stressed.
Barbers blamed the unchecked proliferation of Pogos on Executive Order 13, issued during the Duterte administration, which he said falsely packaged the offshore gaming industry as a driver of economic growth.
“Pogo hubs have evolved into breeding grounds for transnational crime: human trafficking, crypto scams, money laundering, identity fraud, torture, and even murder,” Barbers lamented.
Among those implicated was former Bamban, Tarlac Mayor Alice Guo, allegedly revealed to be a Chinese national named Guo Hua Ping who reportedly used fraudulent documents to infiltrate the Philippine political system. Barbers said this was “not merely an immigration violation—it is a serious threat to our national security.”
He outlined the presence of a highly organized Chinese criminal syndicate operating through a maze of shell companies, nominee shareholders, and corrupt local officials. The syndicate, he said, has ties to major drug operations, including the P3.6-billion methamphetamine hydrochloride or shabu bust in Mexico, Pampanga.
Escudero nixes ‘expedited 19-day trial’
THE proposal by the Senate Rules committee chairman for a 19-day “expedited trial” for Vice President Sara Duterte will have to be decided on by the
Impeachment Court once it convenes, Senate President Francis Escudero said Monday, even as he stressed he disagrees with it. “That is a topic to be decided on
by the Impeachment Court once convened,” Escudero said when asked to react to the idea of Majority Leader Francis Tolentino, who floated the idea of the expedited
trial on Sunday as a way of averting a possible stalemate over the issue of whether or not the work of Impeachment Court can cross over from the 19th to the 20th Congress.
Tolentino, who lost his reelection bid, chairs the Rules committee and he said he was drafting possible rules that would allow the Senate as an Impeachment Court to start and end the Duterte trial from June 11 to 30, since he believes it is illegal to let the trial continue to the next Congress.
Escudero disagreed with the need to rush the trial because, he stressed, he believes the trial can begin with the 19th and be continued by the 20th Congress. First, “where is it written that we must abbreviate the [impeachment] process?” asked Escudero.
Second, he said, shouldn’t the senator-judges endeavor “to give due process” to all parties?
Senate on track in passing Ledac bills
By Butch Fernandez @butchfBM
THE 19th Senate is on track in passing priority bills listed by the LegislativeExecutive Development Advisory Council (Ledac) before it bows out, Senate President Francis Escudero said on Monday, as he attributed this completion rate to the decision to frontload the Ledac bills by resetting from June 2 to June 11 the convening of the Impeachment Court to try Vice President Sara Duterte.
“I wrote the Speaker because of [the] Ledac [bills]” which met [on] May 29 and listed the urgent bills that needed action from the outgoing 19th Congress, Escudero recalled. He said in his letter to Speaker Martin Romualdez that the Senate is moving to June 11 the reading by the House prosecution panel of the Articles of
See “Senate,” A5
Presidential adviser
HE also linked the syndicate to known individuals such as former presidential adviser Michael Yang and Chinese national Wei Xiong Lin.
“The duty now falls upon us to ensure that these findings lead to real consequences. We must demand accountability—not only for the victims of extra-judicial killings and those exploited by Pogolinked criminal networks—but for the Filipino people, whose trust in their institutions has been deeply shaken,” Barbers added.
Laguna Rep. Dan Fernandez, chairman of the House Committee on Public Order and Safety, also questioned the effectiveness of the executive ban on Pogos.
“Has the Pogo industry truly ended, or has it merely rebranded itself under new names and disguises?” Fernandez asked, noting that over 10,000 Pogo workers remain unaccounted for.
He voiced his support for in -
creasing investigative manpower within the Presidential Anti-Organized Crime Commission (Paocc). Fernandez also confirmed that cases have been filed against key personalities, including Guo Hua Ping, Katherine Cassandra Ong, and former presidential spokesman Harry Roque.
“To those involved in human trafficking, scamming, money laundering, torture, and kidnapping who now hide abroad—your day of reckoning will come. The law will catch up with you,” he warned.
“You may have once profited from POGOs, but that game is over. This time, justice will win,” he said.
Five key bills
THE Quad Comm concluded its final hearing with five major legislative measures targeting extrajudicial killings (EJKs), illegal offshore gaming, land fraud, identity falsification, and espionage.
House panel urges law enforcement agencies to track down 10,000 missing Pogo workers
THE House Quad Committee on Monday urged concerned government agencies to actively pursue and arrest an estimated 10,000 illegal foreign workers, primarily Chinese nationals, believed to remain in the country despite the closure of Philippine Offshore Gaming Operators (Pogo).
The committee also called for property owners who facilitate these illegal Pogo operations to be held equally accountable under the law.
Rep. Robert Ace Barbers of Surigao del Nortem House Committee on Dangerous Drugs chairman and Quad Committee lead chairman made the appeal after Presidential Anti-Organized Crime Task Force (Paoctf) Undersecretary Gilbert Cruz reported that between 9,000 and 10,000 former Pogo workers remain unaccounted for and are now “roaming freely” in various parts of the country.
“To quote Undersecretary Cruz, these foreigners are now pakalat-kalat.’ You, the concerned agencies, should be proactive, huwag tutulog-tulog. This matter involves national security because these foreigners may now either be criminals or spies. For all you know, one of them is your neighbor,”
DBy Manuel T. Cayon @awimailbox
AVAO CITY—More Arabic-language schools, called Madrasah received school supplies and equipment from the Bangsamoro government, as the regional autonomous government also assured that it would promote science and technology in the general education sector in the region.
Two Madaris were the latest recipients of assistance from the Office of the Chief Minister’s Marawi Rehabilitation Program (OCM-MRP) which distributed school equipment and office supplies on May 27, 2025 as part of the OCM’s continued support for Islamic educational institutions displaced by the 2017 Marawi siege.
The recipient schools were the Madrasat Disomangcop Al-Islamiyah in barangay Tolali, represented by Abdulhalic Saad Jamil, and Ma’ahad AlMuhsinien Al Islamie in West Marinaut, represented by Ustad Ahmad Kareem.
During the ceremonial turnover at the Hanes Building in Panggao Saduc, MRP Program Director Sailanie Alauya distributed to each madrasah identical sets of school equipment such as personal computers, laptops, multifunction printers, projectors, sound systems, industrial fans, and generators. Office supplies provided include bond papers, printer inks, blackboards, chalk, markers, class records, and notebooks.
“Since the program’s launch, MRP has supported 22 private schools, seven technical-vocational institutions, and
Barbers said.
Barbers lamented that despite earlier calls—dating back to late 2024 after President Marcos ordered the shutdown of Pogos—there is still no central database of foreign Pogo workers to help track or monitor their activities.
“If we do not know how many Pogo workers have entered the country and where they are located, how can we monitor their activities?” Barbers asked.
During the hearing, Department of Labor and Employment (Dole) Central Luzon Director Paolo Magtoto said his office had issued alien employment permits to 15,140 workers from 16 Pogo establishments in the region.
Permits cancelled FOLLOWING the President’s directive, he said these permits have been canceled, and the Bureau of Immigration (BI) was notified accordingly.
“We have accordingly informed the Bureau of Immigration (BI) of such cancellations,” Barbers said. But Magtoto said Dole has no information
19 madaris, including the two newly added institutions,” said Norlailah Nolan Datumolok, MRP information officer. The identified recipients were picked from among the Madaris and general education schools in the part of the city that was most affected by the war, when the terror group, Maute, laid siege on the city for five months in 2017. More than 1,000 armed men and 165 soldiers were killed and another 1,000 soldiers were wounded.
In Cotabato City, Bangsamoro Chief Minister Abdulraof Macacua announced also late last month that the Bangsamoro government will have “spontaneous implementation” of science and technology programs across the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Jehan Amella Usop, the newly appointed Minister of Science and Technology, said she will sustain the service delivery the Ministry provided for the Bangsamoro under the leadership of her predecessor, former Minister Aida Silongan.
“We will continue her legacy of serving the people. Let us move forward together, united in purpose. Let us work hand-in-hand for a more progressive and inclusive MOST that offers services beyond the expectations of our people,” Usop said. Among the notable accomplishments of the Ministry are scholarships and research support for disaster preparedness and micro, small, and medium enterprises (MSME) assistance, which have been made possible since the region’s inception six years ago.
Marawi Arabic-language schools get school supplies, equipment
Incoming legislator to push for financial literacy
By Jovee Marie N. dela Cruz @joveemarie
ALAWMAKER vowed to refile a bill establishing national financial literacy initiatives in the 20th Congress.
Currently, Parañaque Rep.-elect Brian Raymund Yamsuan said he is teaming up with private sector experts to foster
a “culture of financial literacy,” starting with beneficiaries of his ongoing livelihood and employment assistance programs.
Yamsuan said financial literacy will be integrated into training modules for recipients of government-funded livelihood support to help them make informed and responsible decisions regarding their finances.
Danish group gives ₧1.4 million grant to Million Trees Foundation
THE Million Trees Foundation, Inc.
(MTFI), a non-profit organization established to preserve and restore the ecosystem functions of watersheds nationwide, received a major boost with a €23,700 (P1.4 million) grant from Grundfos Foundation of Denmark.
MTFI President and Executive Director Melandrew T. Velasco and Grundfos Country Director Thomas Mikkelsen signed a memorandum of agreement (MOA) over the weekend at the San Miguel Corporation Multi-Purpose Center inside the Million Trees Nursery and EcoLearning Center in Quezon City. Grundfos IS Support and Operation Team Manager Josephine de La Cerna and staff Kassandra Anne Carmesis, Justine Mislang, Adreian Villanueva, and Jerome Dominic Atendido, who made possible the grant approval, witnessed the MOA signing.
MTFI’s priority program is to reforest some of the country’s critical watersheds and focuses on conserving and rehabilitating Angat, Ipo, La Mesa, Umiray, Laguna de Bay, Kaliwa, and Upper Marikina. These watersheds are vital for Metro Manila’s water supply.
Grundfos’ founder, Poul Due Jensen, created the foundation on May 19, 1975. Poul Due Jensen wanted to ensure that his company, that manufactures pumps, would continue to serve the best interests of society for many generations to come.
As such, he transferred ownership of the company to the Grundfos Foundation (also known as the Poul Due Jensen Foundation).
Mikkelsen said the main purpose of the Grundfos Foundation is to ensure and support healthy economic growth and development, but it also donates funds to important philanthropic purposes.
“This project grant for Million Trees Foundation has been approved over projects from other places in the world. This means that our foundation committee thinks that this is a very worthwhile cause and that it
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The five legislative proposals are House Bill 10986, classifying extra-judicial killing as a heinous crime and mandating reparations for victims’ families; House Bill 10987, imposing a nationwide ban on all forms of offshore gaming operations; House Bill 11043, enabling civil forfeiture of real estate unlawfully acquired by foreign nationals; House Bill 11117, authorizing the cancellation of fraudulently obtained birth certificates; and House Bill 10998, criminalizing conspiracy and proposals to commit espionage.
“We have heard accounts that chilled the soul—of lives discarded like refuse, of uniforms used to conceal lawlessness, of badges used as instruments of fear,” said Manila Rep. Bienvenido Abante Jr., cochairman of the QuadCom and chairman of the House Committee on Human Rights.
Abante said these legislative results were proof that congressional oversight can be a path to national correction.
“Through our work, we have reminded every evildoer, every coward in uniform, every merchant of death and deceit: your time is over,” Abante noted.
Abante also commended the whistleblowers and citizen witnesses who risked safety to testify.
“All this has been possible because good people chose not to be silent…To them, we say this: you may escape our reach, but not the long arms of the law,” Abante stressed.
Start of justice
HE described the committee’s efforts as not an end, but the start of justice, reform, and national reckoning.
Rep. Joseph Stephen “Caraps” Paduano of
These beneficiaries include participants in the “Bigay Negosyo” and “Dagdag Puhunan Para sa Kabuhayan” programs, which Yamsuan has rolled out in partnership with the Department of Labor and Employment (Dole) and the Department of Social Welfare and Development (DSWD).
“Included in the financial literacy program is teaching them how to budget, save, invest, and borrow additional funds and
goes very well together with our company values,” Mikkelsen said.
“I like very much that it is not just, as Mr. Mel Velasco emphasized earlier, we are not just planting the trees and then that’s it. No, it goes further than that. It’s thinking about how we can integrate this. We talked about the walking trail, but also about integrating education. What we need to do is not just to fix the immediate problem; we need to change the mindset for the future. And the only way we can do that is by educating people,” he said.
Mikkelsen commended the overall efforts of the Million Trees Foundation for serving as the lead nongovernment organization of the Annual Million Trees Challenge of the Metropolitan Waterworks and Sewerage System (MWSS) that started the noble project in 2017 with partner stakeholders, which has so far planted 6.8 million trees until 2022 to protect the seven critical watersheds.
“We have a purpose, that is to help the water with the world’s climate and water challenges. With water, we can do a lot with our products and our technology to bring water to people. That’s what we can really deliver. But in order to protect water, no amount of technology can do that. That’s where Mother Nature comes in. And this is where it’s so important, in something like this project with Million Trees Foundation, where we plant trees to protect our watersheds,” Mikkelsen said.
Called the 9150 Cares Goes Green Project, the MOA calls for: a) the procurement and planting of 5,000 seedlings-saplings involving fruit bearing and indigenous trees; b) monitoring the actual process of reforestation or rehabilitation needed for one year and replacement of dead saplings if the need arises; and c) re-bagging of 1,500 seedlings; and, d) maintenance, operational and information campaign support for the MTFI and the project. Jonathan L. Mayuga
Abang Lingkod party-list group, co-chairman of the Quad Comm and head of the House Committee on Public Accounts, said the hearings exposed not only administrative lapses but deep systemic vulnerabilities to foreign criminal syndicates.
“We must now confront the reality that there are both Filipino citizens and Chinese nationals who have allowed themselves to be used to undermine our institutions and sow division among our people,” Paduano said.
He said his committee first revealed the scheme involving fraudulent birth certificates used by Chinese to operate front businesses and acquire land.
“These unscrupulous individuals would deliberately resort to illegal means… to lend a semblance of legitimacy to their unlawful intentions,” he added.
He cited his panel’s revelation of a birth certificate fraud scheme used by Chinese nationals to operate illegal businesses and acquire land—such as in the case of Empire999 Inc. in Mexico, Pampanga, where P3.6 billion worth of shabu was seized and traced to Chinese incorporators Aedy Yang and Willie Ong.
“This illustrates the gravity of the problem we face…They exploit our own people to generate income and then use that income to undermine our sovereignty—inside our own territory,” Paduano warned.
He further revealed that some Chinese Pogo operators previously served as Chinese police officers, based on testimonies received by the committee.
While clarifying that there is no evidence of direct Chinese government involvement, Paduano said the threat remains strategic.
“It is plausible that these criminal syndicates are operating in collusion with certain members of the Chinese Communist Party,” Paduano added.
other knowledge about financial products and services that they can use to expand their small businesses,” he said.
Yamsuan said he is also planning to include “ayuda” beneficiaries in his financial literacy program.
“The government allocates billions of pesos each year under the national budget to fund livelihood programs and provide ‘ayuda’ to our low-income countrymen.
Financial literacy will not only help recipients of these support programs make rational decisions about the money they receive but will also mean less ‘ayuda’ and other forms of social protection going to waste due to poor financial decisions,” Yamsuan said.
Safer now to ship balikbayan boxes
By Samuel P. Medenilla @sam_medenilla
ANEW multi-agency complaints and monitoring system will be established for the reporting and resolution of scams related to Balikbayan boxes of overseas Filipino workers (OFW), according to the Department of Migrant Workers (DMW).
On Monday, Migrant Workers Secretary Hans J. Cacdac signed a new Joint Administrative Order (JAO) with the Bureau of Customs (BOC) and other government agencies for the activation of the new system.
“This JAO shows what can be achieved when Congress provides clear direction, and
DPWH starts using
THE Department of Public Works and Highways (DPWH) has launched a mobile application that replaces, paper-based inspection methods with real-time, geotagged reporting.
Developed under the Development Academy of the Philippines’ Public Management Development Program (PMDP), the Fortified Operations and Maintenance Geospatial Survey (OMGS) app modernizes the agency’s infrastructure inspection workflow. In a statement, the DPWH said OMGS streamlines communication
agencies come together in convergence,” Cacdac said.
Under the JAO, DMW and BOC will coordinate with the Department of Finance (DOF), Department of Trade and Industry’s (DTI) Fair Trade Enforcement Bureau, Department of Transportation (DOTr), Overseas Workers Welfare Administration (OWWA), and the Philippine Ports Authority (PPA) to implement the said system.
Once operational, the new system will help protect OFWs from “fraudulent freight forwarding schemes and long-standing delays in balikbayan box deliveries.”
The JAO also regulates the sea cargo forwarding industry and protects OFWs from scams through a public education campaign about unaccredited forwarders and their rights
among government engineers, private concessionaires, and oversight agencies. By allowing inspectors to log infrastructure conditions on-site and send data directly to a centralized platform using mobile devices, the system significantly reduces delays and enhances transparency. Previously, inspectors depended on handwritten notes and a patchwork of reports that often led to fragmented responses and inefficiencies in maintenance.
With the OMGS app, the DPWH said, inspections are now data-driven, standardized,
Less than ₧1 per liter oil
MOTORISTS will pay more for petroleum products this week.
On Monday, oil companies said they will increase the prices of gasoline by P0.60 per liter, diesel by P0.95 per liter, and kerosene by P0.30 per liter. This was announced by Petron, Shell, Calex, Unioil, Total, Seaoil, Cleanfuel, Jetti, PTT, and Phoenix.
The price adjustment will take effect
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on the current whereabouts of these workers.
BI representative Vicente Uncad explained that once Dole canceled the employment permits, the BI revoked the workers’ visas and downgraded them to tourist status.
When Barbers pointed out that tourist visas are valid only for six months and should have already expired, Uncad responded that the affected foreigners can apply for monthly extensions of up to two years. However, he admitted he could not confirm if any of them had done so, saying he would have to consult the relevant BI office.
“That’s exactly what Usec. Cruz meant, “they’re scattered and unmonitored,” Barbers remarked.
Meanwhile, Quad Comm Vice Chairman Rep. Romeo Acop of Antipolo City echoed Barbers’ concern, pointing to the lack of a consolidated visa database.
Acop said there is no single listing of tourist visas and other entry permits issued to foreigners, including POGO personnel.
“That is because several agencies are authorized by law to issue visas, including the Department of Foreign Affairs, the special economic zones, PRA [Philippine Retirement Authority], and even DTI [Department of Trade and Industry],” Acop said.
None of the attending agencies during the hearing could provide the total number of entry permits or visas issued to foreign nationals.
Yamsuan emphasized that improved financial awareness can also protect citizens from scams—especially the growing number of fraudulent schemes found online.
and options in case they became a victim of such illegal activity.
The issuance was a result of the hearings and investigations by the House Committee on Overseas Workers Affairs chaired by Party-list
Rep Jude A. Acidre of Tingog in March on the “systemic gaps in regulation, enforcement, and grievance redress” related to balikbayan box scams.
DMW was able to facilitate the retrieval and delivery of more than 9,900 balikbayan boxes, which were affected by scams, since 2023. Another 2,500 such balikbayan boxes from the Port of Davao will also soon be delivered to their intended recipients.
In April, the agency announced it will extend a P30,000 cash aid to OFWs who are victimized by such scam.
mobile app-based inspection system
and instantly accessible for follow-through action.
“The OMGS app represents a paradigm shift, enabling real-time geotagged data collection, automated reporting, and seamless coordination among inspectors, concessionaires, and government agencies. Using mobile devices, inspectors can now document infrastructure conditions on-site and instantly transmit findings to a centralized digital platform—significantly improving efficiency, accuracy, and accountability,” the agency said. Lorenz S. Marasigan
price increase this week
at 6:00 a.m. on Tuesday, June 10, for all the companies except for Cleanfuel which will hike prices at 4:01 p.m. the same day.
Director Rodela Romero of the Oil Industry Management Bureau said via Viber that the ongoing geopolitical tensions between Russia and Ukraine, supply concerns amid the wildfires in Canada, and the largerthan-anticipated drawdown in US crude
Accountable
Laguna Rep. Dan Fernandez, chairman of the House Committee on Public Order and Safety, said Monday that owners of properties being used for illegal Pogos should be held equally accountable under the law.
Fernandez said property lessors— including owners of buildings, resorts, condominiums, and hotels—cannot feign ignorance of illicit operations taking place within their premises.
“I believe these property owners know what kind of business is being conducted in their buildings. If I owned a property, I would certainly be aware of the activities going on inside it,” Fernandez told officials of the National Police (PNP) and the Presidential Anti-Organized Crime Task Force (Paoctf).“There must be accountability on their part as well.”
Fernandez cited recent raids by the Paoctf, PNP, and other agencies on suspected illegal Pogo operations, including a resort on Alabat Island, Quezon; the Yuchengco Tower on Ayala Avenue in Makati City; and a hotel in Pasay City.
Based on media reports, 42 Chinese were arrested in Alabat, while 188 were apprehended during the Yuchengco Tower raid.
“If we don’t start penalizing these property owners, this problem will only grow,” Fernandez stressed. “It’s hard to believe that 188 Chinese nationals could occupy several floors of a building without the owner knowing what business they’re running. These lessors must also bear responsibility.”
oil inventories led to this week’s fuel price increase.
Movements in the world oil market affect local pump prices. Oil companies adjust their prices every week.
Last week, gasoline went up by P0.40 and diesel by P0.30 per liter. Kerosene, meanwhile, decreased by P0.10 per liter. Lenie Lectura
He said the property owners should be charged with violating Executive Order 74, banning “Philippine offshore gaming, internet gaming, and other offshore gaming operations” in the country.
The Criminal Investigation and Detection Group (CIDG) admitted that no property owner has been charged in connection with the illegal operations. However, Cruz said they are already working on a legal framework or “template” to include property lessors as corespondents in future cases alongside Pogo operators and employees.
“We already did this in the case of the Bamban, Tarlac and Porac Pampanga, Pogos,” he said.
For his part, the PNP chief Gen. Nicolas Torre III, assured the committee that the police are actively coordinating with the Paoctf, National Bureau of Investigation (NBI), and other law enforcement agencies to dismantle remaining Pogo operations.
Jovee Marie N. dela Cruz
A 2023 study by the Organization for Economic Cooperation and Development (OECD) rated the Philippines at just 58 out of 100 in overall financial literacy—below the OECD benchmark score of 70. Meanwhile, a global report by S&P Global Ratings ranked the Philippines among the bottom 30 out of 144 countries surveyed.
Escudero. .
Third, Escudero reiterated, “I disagree with his view” against the crossover or continuing nature of the Senate’s persona as an impeachment court.
Commenting on the 19-day expedited trial Tolentino floated, Escudero said, “ Patiba namansatrial forthwith pa? [The Constitution only decress that we] must commence forthwith.” He added, “Hindinamansinabing[It didn’t say that], trial must be forthwith done.” He added, “any move to compress the seven articles of impeachment into, say, just four, if only to speed up the trial, must be made by either the prosecution or defense, with the other party agreeing to the one that moved it.
Tolentino had insisted on Sunday that the work of the impeachment court cannot “cross over,” and explained this is why he made the June 2 manifestation in plenary that once the “constitutional clock” hits June 30, the case against Duterte will be deemed “functionally dismissed.”
However, Tolentino said, “nothing stops the 19th Congress from promulgating its rules to allow for an expedited trial” to make it possible for a trial to begin and end within the term of the 19th Congress. Butch Fernandez
Ledac. . .
Impeachment before the Senate plenary, which would then trigger the convening of the Impeachment Court.
Escudero reiterated that passage of the Ledac bills was vital because these are reform measures that would help grow the economy and boost quality of life.
Because of the frontloading of the Ledac bills, Escudero told reporters at a press conference Monday morning that several key legislation were scheduled for third reading approval on Monday afternoon, including anti-POGO bill, Virology bill and 15 local bills that are important to their localities.
Escudero noted that the President had already signed last week the Capital Markets Expansion and Promotion Act (CMEPA).
Later on Monday, these bills were in fact approved on third and final reading: the Right of Way Act (ROW) badly needed for urgent infrastructure projects; anti-POGO bill; Judicial Fiscal Autonomy Act; nuclear energy safety bill; revised Philippine Coast Guard law; National Aviation Academy of the Philippines Act; the Imminent Disaster bill; Equitable Access to Shariah Courts bill; amendments to the National Internal Revenue Code on denatured alcohol; career progression system for public school teachers.
Editor: Angel R. Calso
Israeli forces detain Greta Thunberg and activists on Gaza-bound aid boat amid humanitarian crisis
By Yesica Fisch
The Associated Press
JERUSALEM—Israeli forces stopped a Gaza-bound aid boat and detained Greta Thunberg and other activists who were on board early Monday, enforcing a longstanding blockade of the Palestinian territory that has been tightened during the war with Hamas.
The activists had set out to protest Israel’s ongoing military campaign in the Gaza Strip, which is among the deadliest and most destructive since World War II, and its restrictions on the entry of humanitarian aid, both of which have put the territory of some 2 million Palestinians at risk of famine.
fiscated,” it said in a statement.
Israel’s Foreign Ministry cast the voyage as a public relations stunt, saying in a post on X that “the ‘selfie yacht’ of the ‘celebrities’ is safely making its way to the shores of Israel.”
It said the passengers would return to their home countries and the aid would be delivered to Gaza through established channels. It later circulated footage of what appeared to be Israeli military personnel handing out sandwiches and water to the activists, who were wearing orange life vests.
and comrades to put pressure on the Swedish government to release me and the others as soon as possible,” Thunberg said in a pre-recorded message released after the ship was halted.
Rima Hassan, a French member of the European Parliament who is of Palestinian descent, was also among the volunteers on board. She has been barred from entering Israel because of her opposition to Israeli policies toward the Palestinians.
Israel for the attack, which damaged the front section of the ship.
An 18-year blockade
ISRAEL and Egypt have imposed varying degrees of blockade on Gaza since Hamas seized power from rival Palestinian forces in 2007. Israel says the blockade is needed to prevent Hamas from importing arms, while critics say it amounts to collective punishment of Gaza’s Palestinian population.
half of whom have since been released in ceasefire agreements or other deals. Hamas is still holding 55 hostages, more than half of them believed to be dead.
Israel’s military campaign has killed more than 54,000 Palestinians, according to the Gaza Health Ministry, which has said women and children make up most of the dead. It doesn’t say whether those killed are civilians or combatants.
The Freedom Flotilla Coalition, which had organized the voyage, said the activists were “kidnapped by Israeli forces” while trying to deliver desperately needed aid to the territory.
“The ship was unlawfully boarded, its unarmed civilian crew abducted, and its life-saving cargo—including baby formula, food and medical supplies—con -
A weeklong voyage THUNBERG , a climate campaigner, was among 12 activists aboard the Madleen, which set sail from Sicily a week ago. Along the way, it had stopped on Thursday to rescue four migrants who had jumped overboard to avoid being detained by the Libyan coast guard.
“I urge all my friends, family
After a 2½-month total blockade aimed at pressuring Hamas, Israel started allowing some basic aid into Gaza last month, but humanitarian workers and experts have warned of famine unless the blockade is lifted and Israel ends its military offensive.
An attempt last month by Freedom Flotilla to reach Gaza by sea failed after another of the group’s vessels was attacked by two drones while sailing in international waters off Malta. The group blamed
Israel sealed Gaza off from all aid in the early days of the war ignited by the Hamas-led attack on southern Israel on October 7, 2023, but later relented under US pressure. In early March, shortly before Israel ended a ceasefire with Hamas, the country again blocked all imports, including food, fuel and medicine.
Hamas-led militants killed around 1,200 people, mostly civilians, in the October 7 attack and abducted 251 hostages, more than
The war has destroyed vast areas of Gaza and displaced around 90% of the territory’s population, leaving people there almost completely dependent on international aid. Efforts to broker another truce have been deadlocked for months. Hamas says it will only release the remaining hostages in exchange for a lasting ceasefire and an Israeli withdrawal, while Israel has vowed to continue the war until all the captives are returned and Hamas is defeated or disarmed and exiled.
Israeli fire kills 12 near Gaza aid distribution points amid ongoing conflict and desperation
By Wafaa Shurafa & Kareem Chehayeb
The Associated Press
DEIR AL-BALAH, Gaza Strip—Israeli fire killed at least 12 people and wounded others as they headed toward two aid distribution points in the Gaza Strip run by an Israeli and US-backed group, Palestinian health officials and witnesses said Sunday. Israel’s military said it fired warning shots at people who approached its forces.
In all, at least 108 bodies were brought to hospitals in Gaza over the past 24 hours, the territory’s Health Ministry said. Israel’s military said it struck dozens of militant targets throughout Gaza over the past day.
Eleven of the latest bodies were brought to Nasser Hospital in the southern city of Khan Younis. Palestinian witnesses said Israeli forces fired on some at a roundabout around a kilometer (half-mile) from a site run by the Gaza Humanitarian Foundation, or GHF, in nearby Rafah. Israel’s military said it fired warning shots at approaching “suspects” who ignored warnings to turn away. It said the shooting happened in an area that is considered an active combat zone at night.
The past two weeks have seen frequent shootings near the new hubs where thousands of Palestinians—desperate after 20 months of war—are being directed to collect food. Witnesses say nearby Israeli troops have opened fire, and more than 80 people have been killed, according to Gaza hospital officials.
Al-Awda Hospital said it received the body of a man and 29 people who were wounded near another GHF aid distribution point in central Gaza. The military said it fired warning shots in the area at around 6:40 a.m., but didn’t see any casualties.
A GHF official said there was no violence in or around its distribution sites, all three of which delivered aid on Sunday. The group closed them temporarily last week to discuss safety measures with Israel’s military and has warned people to stay on designated access routes. The official spoke on condition of anonymity in line with regulations.
The new aid hubs are set up inside Israeli military zones where independent media have no access. The GHF also said it was piloting direct delivery to a community north of Rafah.
Witnesses fear for their safety WITNESSES said the first shootings in southern Gaza took place at around 6 a.m., when they were told the site would open.
Many headed toward it early, seeking desperately needed food before crowds arrived.
Gaza’s roughly 2 million Palestinians are almost completely reliant on international aid because nearly all food production capabilities have been destroyed.
Adham Dahman, who was at Nasser Hospital with a bandage on his chin, said a tank fired toward them.
“We didn’t know how to escape,” he said. “This is trap for us, not aid.”
Zahed Ben Hassan said someone next to him was shot in the head.
“They said it was a safe area from 6
a.m. until 6 p.m.... So why did they start shooting at us?” he said. “There was light out, and they have their cameras and can clearly see us.”
The military announced on Friday that the sites would be open during those hours, and the areas would be a closed military zone the rest of the time.
Children cried over their father’s body at the hospital.
“I can’t see you like this, Dad!” one girl said.
Aid distributed inside Israeli military zones
THE new aid hubs are run by GHF, a new group of mainly American contractors. Israel wants it to replace a system coordinated by the United Nations and international aid groups. Israel and the United States accuse the Hamas militant group of stealing aid. The UN denies there is systematic diversion. The UN says the new system is unable to meet mounting needs, allows Israel to use aid as a weapon by determining who can receive it and forces people to relocate to where aid sites are positioned.
The UN system has struggled to deliver aid, even after Israel eased its blockade of Gaza last month. UN officials say their efforts are hindered by Israeli military restrictions, the breakdown of law and order and widespread looting. Experts warned earlier this year that Gaza was at critical risk of famine, if Israel
See “Gaza,” A7
Tuesday, June 10, 2025 A7
Can UN Ocean Conference help transform promises into real protections for the sea?
By Annika Hammerschlag The Associated Press
NICE, France—The third—Ocean Conference opens Monday as pressure mounts for nations to turn decades of promises into real protection for the sea. The summit comes as just 2.7% of the ocean is effectively protected from destructive extractive activities, according to the nonprofit Marine Conservation Institute. That’s far below the target agreed under the “30x30” pledge to conserve 30% of land and sea by 2030.
Atop this year’s agenda is ratification of the High Seas Treaty. Adopted in 2023, the treaty would for the first time allow nations to establish marine protected areas in international waters, which cover nearly two-thirds of the ocean and are largely ungoverned.
“It’s the Wild West out there with countries just fishing anywhere without any sort of regulation, and that needs to change,” said Mauro Randone, regional projects manager at the World Wildlife Fund’s Mediterranean Marine Initiative. “The high seas belong to everyone and no one practically at the same time, and countries are finally committing to establish some rules.”
The ocean is critical in stabilizing Earth’s climate and sustaining life. It generates 50% of the oxygen we breathe, absorbs around 30% of carbon dioxide emissions and captures more than 90% of the excess heat caused by those emissions. Without a healthy ocean, experts warn, climate goals will remain out of reach.
The treaty will only come into force once 60 countries ratify it. As of Monday, just 32 countries had. Advocates hope UNOC can build enough momentum to cross the threshold, which would allow for the first official Oceans Conference of Parties.
“Two-thirds of the ocean is areas beyond national jurisdiction—that’s half our planet,” said Minna Epps, director of global ocean policy the International Union for Conservation of Nature. “We cannot possibly protect 30% of the ocean if it doesn’t include the high seas.”
South Korea, France and the European Union have championed the treaty, but most large ocean nations have yet to ratify it, including the rest of the G20. Thousands of attendees are expected in Nice—from delegates and heads of state to scientists and industry leaders. The United States has yet to confirm a formal delegation.
Moving from protections on paper to something real BEYOND new commitments, the conference highlights the growing gap between marine protection declarations and real-world conservation. France, the conference co-host, claims to have surpassed the 30% target for marine protection. But environmental groups say only 3% of French waters are fully protected from harmful activities like bottom trawling and industrial fishing.
In 2024 alone, more than 100 bottom-trawling vessels were recorded spending over 17,000 hours fishing within France’s six marine nature parks, according to ocean advocacy group Oceana.
“The government declares these as protected areas, but this is a lie,” said Enric Sala, founder of National Geographic Pristine Seas marine reserve project. “Most of it is political box-ticking. It’s all paper parks.”
That criticism is echoed across the continent. A new World Wildlife Fund report found that although more than 11% of Europe’s marine area is designated for protection, just 2% of EU waters have management plans in place.
Fabien Boileau, director of marine protected areas at France’s Office for Biodiversity, acknowledged the presence of bottom trawling in French protected areas, but said it was part of a phased strategy.
“In France, we made the choice to designate large marine protected areas with relatively low levels of regulation at first, betting that stronger protections would be developed over time through local governance,” he said. “Today, we’re gradually increasing the number of zones with stricter protections within those areas.”
See “Ocean,” A8 Gaza. . .
Continued from A6
didn’t lift its blockade and halt its military campaign. Both were renewed in March.
Israeli officials have said the offensive will continue until all hostages are returned and Hamas is defeated or disarmed and sent into exile.
Israel says it identified Hamas chief Mohammed Sinwar’s body ON Sunday, Israel’s military invited journalists into Khan Younis to show a tunnel under the European Hospital, saying they found the body of Mohammed Sinwar, the head of Hamas’ armed wing, there after he was killed last month. Israel has barred international journalists from entering Gaza independently since the war began.
“(Israeli forces) would prefer not to hit or target hospitals,” army spokesperson Brig. Gen. Effie Defrin said. Sinwar’s body was found in a room under the hospital’s emergency room, Defrin said.
Hamas has said it will only release the remaining hostages in return for Palestinian prisoners, a lasting ceasefire and an Israeli withdrawal from Gaza. Talks mediated by the US, Egypt and Qatar have been deadlocked for months.
Hamas started the war with its attack on southern Israel on October 7, 2023, when Palestinian militants killed around 1,200 people, mostly civilians, and took another 251 hostage. They still hold 55 hostages, fewer than half of them alive, after most of the rest were released in ceasefire agreements or other deals.
Israel’s military campaign has killed more than 54,800 Palestinians, according to Gaza’s Health Ministry. It says women and children make up most of the dead, but doesn’t say how many civilians or combatants were killed. Israel says it has killed more than 20,000 militants, without providing evidence.
The war has destroyed vast areas of Gaza and displaced around 90% of its population.
Kareem Chehayeb reported from Beirut. Melanie Lidman contributed to this report from Tel Aviv, Israel.
China says its exports to the US fell nearly 10% in May, as trade talks are due to start in London
By Elaine Kurtenbach AP Business Writer
CHINA’S exports to the United States sank fell nearly 10% in May from a year earlier, new customs data show, adding to pressure on the world’s second largest economy as a new round of trade talks with Washington was due to start later Monday in London.
China’s total exports rose 4.8% last month, slowing from an 8.1% year-on-year increase in April. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2 billion.
China exported $28.8 billion to the United States in May, while its imports from the US fell 7.4% to $10.8 billion, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12%, year-on-year. Exports to Thailand, Vietnam and Indonesia were sharply higher, and exports to Germany jumped more than 12%.
“The acceleration of exports to other economies has helped China’s exports to remain relatively buoyant in the face of the trade war,” Lynne Song of ING
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France’s Port-Cros: A model for conservation WHILE many marine protected areas struggle with enforcement, others show what real protection can achieve. Off the southern coast of France, Port-Cros National Park is one of the oldest marine reserves in the Mediterranean.
Economics said in a commentary. Many businesses had rushed orders earlier in the year to try to beat higher tariffs. Once new import duties took effect, shipments slowed. Exports will likely rebound somewhat in June thanks to a 90day suspension of most of the tariffs China and the US imposed on each other in their escalating trade war, Zichun Huang of Capital Economics said in a report.
“But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,” Huang said.
Despite the tariffs truce, rancor between Beijing and Washington has persisted, with angry exchanges
There, strict anchoring bans have allowed vast seagrass meadows to grow undisturbed. Massive groupers patrol rocky outcrops, brightly colored nudibranchs munch on algae, and schools of large corbs glide through the shallows, undisturbed by fishing lines.
“Thanks to the protections that have been in place since 1963, we can observe species that are much larger than elsewhere in the Mediterranean and at a much higher density than in other areas,” said Hubert
over advanced semiconductors, “rare earths” that are vital to many industries and visas for Chinese students at American universities.
The round of negotiations due to take place later Monday in London follow a phone call last week between Trump and Chinese leader Xi Jinping.
It’s unclear if that exchange will lead to any significant progress during the talks this week.
Speaking to reporters on Air Force One on Friday, Trump said Xi had agreed to restart exports of rare earth minerals and magnets to the US which China had slowed, threatening a range of US manufacturers that relied on the critical materials.
There was no immediate confirmation from China. The trade data released on Monday showed a nearly 21% plunge in the value of China’s rare earths exports in January to May compared with a year earlier. In terms of volume, those exports rose 2.3%.
Flavigny, manager of Mio Palmo dive center in Hyeres, France.
Still, such examples remain exceptions.
Advocates say industrial fishing lobbies continue to resist stricter protections, despite evidence that well-managed reserves boost long-term fisheries through the “spillover effect,” whereby marine life flourishes in nearby waters.
“Protection is not the problem— overfishing is the problem,” said Sala. “The
Similar trends can be seen in exports of other products and commodities, such as shoes, ceramics and cell phones, as slowing demand causes prices to fall.
Other data released Monday highlighted the pressure on China’s own economy from slowing exports. Imports have faltered since manufacturers import many of the components and materials needed for the goods they assemble for the world.
At the same time, China’s own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, evidence of sluggish demand. The persisting deflation partly reflects lower food prices, economists said.
Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April.
AP researcher Yu Bing in Beijing contributed to this report.
worst enemy of the fishing industry is themselves.”
Frustrated by government inaction, environmental groups have taken enforcement into their own hands. In May, Greenpeace dropped 15 limestone boulders into France’s Golfe du Lion, aiming to physically block bottom trawling in a marine area that has long been designated for protection. The protected zone was established in 2008 to preserve deep-sea
Global
shares mixed as investors await details from the US-China trade talks
By Jiang Junzhe The Associated Press
HONG KONG—Global markets were mixed on Monday as investors waited to see the outcome of trade talks between Washington and Beijing in London.
The futures for the S&P 500 and the Dow Jones Industrial Average were 0.1% higher.
The CAC 40 in Paris lost 0.1% to 7,797.64 and Germany’s DAX edged 0.4% lower to 24,210.06.
The British FTSE 100 was little changed at 8,836.20.
In Asian trading, Tokyo’s Nikkei 225 gained 0.9% to 38,088.57 as the government reported that the Japanese economy contracted by 0.2% in the JanuaryMarch quarter.
In South Korea, the Kospi added 1.6% to 2,855.77. Chinese markets rose even though the government reported that exports slowed in May, growing 4.8% from a year earlier after jumping more than 8% in April. Exports to the United States fell 35% in May and nearly 10% in January-May in annual terms.
China also reported that consumer prices fell 0.1% in May from a year earlier, marking the fourth consecutive month of deflation.
Hong Kong’s Hang Seng picked up 1.6% to 24,181.43 while the Shanghai Composite Index climbed 0.4% to 3,399.77.
Australia’s markets were closed for a holiday.
On Friday, stocks gained ground on Wall Street following a better-than-expected report on the US job market.
The gains were broad, with every sector in the S&P 500 rising. That solidified a second consecutive winning week for the
ecosystems, yet 12 trawlers continue to operate there, despite scientific warnings of ecological collapse, according to activist group MedReAct. The Golfe is now one of the most overfished areas in the Mediterranean.
What will UNOC deliver?
benchmark index, which has rallied back from a slump two months ago to come within striking distance of its record high. The S&P 500 rose 1% and the Dow industrials lost 1%. The Nasdaq gained 1.2%.
Technology stocks, with their outsized values, led the broad gains. Chipmaker Nvidia jumped 1.2% and
Circle Internet Group, the US-based issuer of one of the most popular cryptocurrencies, rose 29.4%. That adds to its 168% gain from Thursday when it debuted on the New York Stock Exchange. US employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump’s trade war. The closely watched monthly update reaffirmed that the job market remains resilient, despite worries from businesses and consumers about the impact of tariffs on goods going to and coming from the US and its most important trading partners.
Hopes that Trump will lower his tariffs after reaching trade deals with other countries are a main reason the S&P 500 has rallied back so furiously since dropping roughly 20% two months ago from an all-time high.
The economy is absorbing the impact from tariffs on a wide range of goods from key trading partners, along with raw materials such as steel. Heavier tariffs could hit businesses and consumers in the See “Global,” A9
THE conference will feature 10 panels on topics such as blue finance, sustainable fisheries and plastic pollution. Deep sea mining is expected to feature in broader discussions, while small island states are likely to use the platform to advocate for increased climate adaptation funding. The outcome of these discussions will form the basis of the Nice Ocean Action Plan—a declaration of voluntary commitments to be adopted by consensus and presented at the United Nations in New York this July.
“There cannot be a healthy planet without a healthy ocean,” said Peter Thomson,— special envoy for the ocean. “It’s urgent business for us all.”
TRUCKS loaded with container move through a container terminal port in Shanghai, China Monday, June 9, 2025. CHINATOPIX VIA AP
Pope Leo criticizes political nationalism and prays for reconciliation and dialogue
VATICAN CITY—Pope Leo XIV criticized the surge of nationalist political movements in the world as he prayed Sunday for reconciliation and dialogue—a message in line with his pledges to make the Catholic Church a symbol of peace.
The pope celebrated Sunday Mass in St. Peter’s Square in front of tens of thousands faithful, and asked the Holy Spirit to
“break down barriers and tear down the walls of indifference and hatred.”
“Where there is love, there is
no room for prejudice, for ‘security’ zones separating us from our neighbors, for the exclusionary mindset that, tragically, we now see emerging also in political nationalisms,” the first American pontiff said.
He did not name any specific country or politician.
Leo also recalled the words of late Pope Francis, who—on the feast of Pentecost in May 2023— observed that in our world “we are all connected, yet find ourselves disconnected from one another, anaesthetized by indifference and overwhelmed by solitude.”
L“First of all, peace in our hearts, for only a peaceful heart can spread peace in the family, society and international relations,” Leo said, then prayed for reconciliation and dialogue wherever there is war in the world.
Soon after becoming pope, Leo pledged to work for unity and peace. His first message, “Peace be with you all,” set the importance of peace as a pillar of his papacy. He has also appealed for a genuine and just peace in Ukraine and a ceasefire in Gaza. AP
The pope also condemned wars, which “are plaguing our world,” and asked the Holy Spirit for “the gift of peace.”
Protests intensify in Los Angeles after Trump deploys hundreds of National Guard troops
By Jason Dearen, Jaimie Ding & Jake Offenhartz
The Associated Press
OS ANGELES—Tensions in Los Angeles
escalated Sunday as thousands of protesters took to the streets in response to President Donald Trump’s extraordinary deployment of the National Guard, blocking off a major freeway and setting self-driving cars on fire as law enforcement used tear gas, rubber bullets and flash bangs to control the crowd.
Many protesters dispersed as evening fell and police declared an unlawful assembly, a precursor to officers moving in and making arrests of people who don’t leave. Some of those remaining threw objects at police from behind a makeshift barrier that spanned the width of a street and others hurled chunks of concrete, rocks, electric scooters and fireworks at California Highway Patrol officers and their vehicles parked on the closed southbound 101 Freeway. Officers ran under an overpass to take cover.
Sunday’s protests in Los Angeles, a sprawling city of 4 million people, were centered in several blocks of downtown.
It was the third and most intense day of demonstrations against Trump’s immigration crackdown in the region, as the arrival of around 300 Guard troops spurred anger and fear among many residents. The Guard was deployed specifically
Global. . . Continued from A8
coming months. The US economy contracted during the first quarter. Recent surveys by the Institute for Supply Management, a trade group of purchasing managers, found that both American manufacturing and services businesses contracted last month. On Tuesday, the Organization for Economic Cooperation and Development
to protect federal buildings, including the downtown detention center where protesters concentrated. Los Angeles Police Chief Jim McDonnell said officers were “overwhelmed” by the remaining protesters. He said they included regular agitators who show up at demonstrations to cause trouble.
Several dozen people were arrested throughout the weekend of protest. One was detained Sunday for throwing a Molotov cocktail at police, and another for ramming a motorcycle into a line of officers.
Trump responded to McDonnell on Truth Social, telling him to arrest protesters in face masks.
“Looking really bad in L.A. BRING IN THE TROOPS!!!” he wrote.
Clashes escalate as National Guard troops arrive STARTING in the morning, the troops stood shoulder to shoulder, carrying long guns and riot shields as protesters shouted “shame” and “go home.” After some closely approached the guard members, another set of uniformed officers advanced on the group, shooting smoke-filled canisters into the street.
Minutes later, the Los Angeles Police Department fired rounds of crowd-control munitions to disperse the protesters, who they said were assembled unlawfully. Much of the group then moved to block traffic on the 101 freeway until state patrol officers cleared them from the roadway by late afternoon.
Nearby, at least four self-driving Waymo
forecast 1.6% growth for the US economy this year, down from 2.8% last year. The uncertainty over tariffs and their economic impact has put the Federal Reserve in a delicate position.
In other trading early Monday, US benchmark crude oil lost 21 cents to $64.37 per barrel. Brent crude, the international standard, gave up 23 cents to $66.24 per barrel. The US dollar retreated to 144.09 Japanese yen from 144.85 yen. The euro edged higher, to $1.1426 from $1.1399.
cars were set on fire, sending large plumes of black smoke into the sky and exploding intermittently as the electric vehicles burned. By evening, police had issued an unlawful assembly order shutting down several blocks of downtown Los Angeles.
Flash bangs echoed out every few seconds into the evening.
Governor says Guard not needed
DEMOCRATIC Gov. Gavin Newsom requested Trump remove the guard members in a letter Sunday afternoon, calling their deployment a “serious breach of state sovereignty.” He was in Los Angeles meeting with local law enforcement and officials.
The deployment appeared to be the first time in decades that a state’s national guard was activated without a request from its governor, a significant escalation against those who have sought to hinder the administration’s mass deportation efforts.
Newsom and Los Angeles Mayor Karen Bass blamed the increasingly aggressive
protests on Trump’s decision to deploy the Guard, calling it a move designed to enflame tensions. They’ve both urged protesters to remain peaceful.
“What we’re seeing in Los Angeles is chaos that is provoked by the administration,” she said in an afternoon press conference. “This is about another agenda, this isn’t about public safety.”
But McDonnell, the LAPD chief, said the protests were following a similar pattern for episodes of civil unrest, with things ramping up in the second and third days.
He pushed back against claims by the Trump administration that the LAPD had failed to help federal authorities when protests broke out Friday after a series of immigration raids. His department responded as quickly as it could, and had not been notified in advance of the raids and therefore was not pre-positioned for protests, he said.
Newsom, meanwhile, has repeatedly said that California authorities had the situation under control. He mocked Trump for posting a congratulatory message to the
Guard on social media before troops had even arrived in Los Angeles, and said on MSNBC that Trump never floated deploying the Guard during a Friday phone call. He called Trump a “stone cold liar.”
The admonishments did not deter the administration.
“It’s a bald-faced lie for Newsom to claim there was no problem in Los Angeles before President Trump got involved,” White House spokesperson Abigail Jackson said in a statement.
Deployment follows days of
protest
The protests did not reach the size of past demonstrations that brought the National Guard to Los Angeles, including the Watts and Rodney King riots, and the 2020 protests against police violence, in which Newsom requested the assistance of federal troops. The last time the National Guard was activated without a governor’s permission was in 1965, when President Lyndon B. Johnson sent troops to protect a civil rights march in Alabama, according to the Brennan Center for Justice.
Offenhartz reported from New York. Associated Press writer Michelle Price contributed to this report from Bridgewater, New Jersey.
THE arrival of the National Guard followed two days of protests that began Friday in downtown Los Angeles before spreading on Saturday to Paramount, a heavily Latino city south of the city, and neighboring Compton. Federal agents arrested immigrants in LA’s fashion district, in a Home Depot parking lot and at several other locations on Friday. The next day, they were staging at a Department of Homeland Security office near another Home Depot in Paramount, which drew out protesters who suspected another raid. Federal authorities later said there was no enforcement activity at that Home Depot. The weeklong tally of immigrant arrests in the LA area climbed above 100, federal authorities said. Many more were arrested while protesting, including a prominent union leader who was accused of impeding law enforcement.
A10 Tuesday, June 10, 2025
Trump’s new travel ban on 12 countries takes effect as tensions escalate over immigration enforcement
WASHINGTON—President Donald Trump’s new ban on travel to the US by citizens from 12 mainly African and Middle Eastern countries took effect Monday amid rising tension over the president’s escalating campaign of immigration enforcement.
The new proclamation, which Trump signed last week, applies to citizens of Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. It also imposes heightened restrictions on people from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela who are outside the US and don’t hold a valid visa.
The new ban does not revoke visas previously issued to people from countries on the list, according to guidance issued Friday to all US diplomatic missions. However, unless an applicant meets narrow criteria for an exemption to the
ban, his or her application will be rejected starting Monday. Travelers with previously issued visas should still be able to enter the US even after the ban takes effect.
During Trump’s first term, a hastily written executive order ordering the denial of entry to citizens of mainly Muslim countries created chaos at numerous airports and other ports of entry, prompting successful legal challenges and major revisions to the policy.
No such disruption was immediately discernible at Los Angeles International Airport in the hours after the new ban took effect.
Haitian-American Elvanise Louis-Juste, who was at the air -
port earlier Sunday in Newark, New Jersey, awaiting a flight to her home state of Florida, said many Haitians wanting to come to the US are simply seeking to escape violence and unrest.
“I have family in Haiti, so it’s pretty upsetting to see and hear,” Louis-Juste, 23, said of the travel ban. “I don’t think it’s a good thing. I think it’s very upsetting.”
Many immigration experts say the new ban is more carefully crafted and appears designed to beat court challenges that hampered the first by focusing on the visa application process.
Trump said this time that some countries had “deficient” screening for passports and other public documents or have historically refused to take back their own citizens. He relied extensively on an annual Homeland Security report of people who remain in the US after their visas expired.
Measuring overstay rates has challenged experts for decades, but the government has made a limited attempt annually since 2016. Trump’s proclamation cites overstay rates for eight of the 12 banned countries.
Trump also tied the new ban
to a terrorist attack in Boulder, Colorado, saying it underscored the dangers posed by some visitors who overstay visas. US officials say the man charged in the attack overstayed a tourist visa. He is from Egypt, a country that is not on Trump’s restricted list. The ban was quickly denounced by groups that provide aid and resettlement help to refugees.
“This policy is not about national security—it is about sowing division and vilifying communities that are seeking safety and opportunity in the United States,” said Abby Maxman, president of Oxfam America, a nonprofit international relief organization.
The inclusion of Afghanistan angered some supporters who have worked to resettle its people. The ban does make exceptions for Afghans on Special Immigrant Visas, generally people who worked most closely with the US government during the two-decade-long war there. Afghanistan had been one of the largest sources of resettled refugees, with about 14,000 arrivals in a 12-month period through September 2024. Trump suspended refugee resettlement his first day in office. AP
Senate Republicans plan to release major revisions to Trump’s tax bill
By Erik Wasson
SENATE Republicans intend to propose revised tax and health-care provisions to President Donald Trump’s $3 trillion signature economic package this week, shrugging off condemnations of the legislation by Elon Musk as they rush to enact it before July 4.
T he Senate Finance Committee’s plan to extract savings from the Medicaid and — perhaps — Medicare health insurance programs could depart in key respects from the version of the giant bill that narrowly passed the US House in May. The release of the panel’s draft will likely touch off a new round of wrangling between fiscal conservatives and moderates.
As the deba te unfolds, businesses in the energy, health care, manufacturing and financial services industries will be watching closely.
SALT dilemma
A CRUCIAL decision for Majority Leader John Thune, Committee Chairman Mike Crapo and other panel members will be how to handle the $40,000 limit on state and local tax deductions that was crucial to
passage of the bill in the House.
S enate Republicans want to scale back the $350 billion cost of increasing the cap from $10,000 to $40,000 for those making less than $500,000.
H ouse Speaker Mike Johnson and a group of Republican members from high-tax states have warned that any diminishing of the SALT cap would doom the measure when it comes back to the House for a final vote.
At the same time, so-called pass-through businesses in the service sector are pushing to remove a provision in the House bill that limits their ability to claim SALT deductions.
T he Senate Finance Committee is widely expected to propose extending three business tax breaks that expire after 2029 in the House version to order to make them permanent. They are the research and development deduction, the ability to use depreciation and amortization as the basis for interest expensing and 100% bonus depreciation of certain property, including most machinery and factories.
Manufac turers and banks are particularly eager to see all of them extended.
To pay for the items, which most economists rank as the most pro-growth in the overall tax bill, senators may restrict
temporary breaks on tips and overtime, which Trump campaigned on during last year’s election in appeals to restaurant and hospitality workers. The White House wants to keep those provisions as is.
White House economic adviser Kevin Hassett said Trump “supports changing” the SALT deduction and it’s up to lawmakers to reach a consensus.
“It’s a horse trading issue with the Senate and the House,” Hassett said Sunday on CBS’s Face the Nation. “The one thing we need and the president wants is a bill that passes, and passes on the Fourth of July.”
The committee will also face tough decisions on green energy tax credits.
Scaling those back generates nearly $600 billion in savings in the House bill.
O n Friday, rival House factions released dueling statements.
T he conservative House Freedom Caucus warned that any move to restore some of the credits would prompt its members to vote against the bill. “We want to be crystal clear: If the Senate attempts to water down, strip out, or walk back the hard-fought spending reductions and IRA Green New Scam rollbacks achieved in this legislation, we will not accept it,” the group said. In c ontrast, a group of 13 Republican moderates, led by Pennsylvania’s Brian
Fitzpatrick and Virginia’s Jen Kiggans, urged senators to make changes that would benefit renewable energy projects, many in Republican districts, that came about through President Joe Biden’s Inflation Reduction Act. “ We remain deeply concerned by several provisions, including those which would abruptly terminate several credits just 60 days after enactment for projects that have not yet begun construction,” the lawmakers said in a letter to the Senate. B anks are especially interested to ensure that tax credits on their balance sheets as part of renewable energy financing aren’t rendered worthless by the bill.
Health-care perils
MEDICAID and Medicare cuts present the most daunting challenge in the committee’s draft. While Republicans are generally in favor of new work requirements for able-bodied adults to be insured by Medicaid, some moderates like Senator Lisa Murkowski of Alaska have expressed concern over giving states just a year and a half to implement the requirement. H ouse provisions instituting new co-pays for Medicaid recipients and limits on the ability of states to tax Medicaid providers in order to increase federal reimbursement payments are more disputed. Bloomberg News
Makati boosts emergency response with high-tech firefighting robots
TO further enhance the city’s modern emergency response capabilities, the city government of Makati recently acquired three units of the Rosenbauer Smart Firefighting Robot.
Makati City Mayor Abigail Binay said the robots offer an alternative way to aid in fire suppression and rescue efforts, especially in high-risk incidents such as those involving hazardous materials, reducing the risk to rescuers’ lives.
“The smart firefighting robots will help our response teams handle complex and dangerous situations more effectively through advance features that can compensate for human limitations,” Binay said.
Binay said that each robot is designed to withstand extreme heat, poor visibility, and hazardous environments, and equipped with an acoustic warning device that emits audible signals during operations to alert nearby personnel.
With a maximum payload capacity of 600 kilograms, the robot can serve as a mobile platform to drag injured responders or trapped civilians out of harm’s way—minimizing the need to send additional personnel into hazardous zones, she noted.
She also said the robot is equipped with remote-controlled mobility operated via dual joysticks, which allows for rapid deployment in high-risk scenarios such as commercial fires, confined space rescues, and other complex emergencies. Its turret can discharge between 1,500 to 3,500 liters of water per minute at 10 bar pressure, with a vertical reach of up to 80 feet.
“We recognize that being a smart city isn’t just about going digital—it’s about using technology to keep people safe and save lives when emergencies happen,” she said. Under the administration of Binay, Makati has continuously modernized its disaster equipment, procuring mobile command and emergency response vehicles and gear.
These include four mobile command vehicles, one advanced mobile emergency communication vehicle, one aerial fire ladder truck, one super tanker, two chemical fire trucks, two rescue trucks, two Urban Search and Rescue trailers, 10 rescue boats, two mobile kitchens, 13 basic life support ambulances, three motorcycles, and two mobile clinics.
Claudeth Mocon-Ciriaco
PCG keeping watch on Chinese ship that ran aground off Pag-asa Reef 1
By Rex Anthony Naval
THE Philippine Coast Guard
(PCG) on Monday said that it is continuing to monitor the suspected Chinese Maritime Militia vessel that earlier ran aground at Pag-asa Reef 1 last June 7.
“Last Saturday, the PCG observed a suspected Chinese Maritime Militia vessel, identified by bow number 16838, that ran aground at Pag-asa Reef 1, approximately one nautical mile from Pagasa Island. The said Chinese vessel was likely driven into the shallow area due to adverse sea conditions, characterized by wave heights of two-three meters and strong winds,” it added.
And in line with the PCG’s mandate to uphold maritime safety and safeguard the marine environment, personnel stationed at Pag-asa Island reached out to the grounded vessel to evaluate its condition and render support for its removal.
This is part of efforts to prevent
additional harm to the coral reef and territorial waters of Pag-asa.
“Unfortunately, the vessel did not respond to the PCG’s inquiries. After approximately three hours, the vessel was able to free itself without external assistance,” the PCG said.
It was noted that the China Coast Guard with bow number 5102 communicated with the then grounded ship but opted not to approach as their own vessel might also run aground.
“At present, the PCG, in collaboration with other relevant organizations, is preparing to carry out an environmental damage assessment on the reef caused by the unlawful presence of the CMM in the Philippines’ territorial waters. The goal of this assessment is to evaluate any potential ecological impacts resulting from this situation,” the agency stressed.
It also reiterated its commitment in safeguarding the country’s maritime interests and ensuring the protection of the Philippine marine environment.
Veteran journo Dayang honored in 40th day memorial mass family, friends, and leaders renew call for justice
VETERAN journalist and staunch advocate for truth, Johnny Dayang, was honored during a 40th-day memorial mass on Saturday at Serendra One Social Hall. Family, friends, colleagues, and public figures gathered to celebrate his life and contributions while renewing a call for justice after his tragic assassination.
Dayang’s distinguished journalism career included roles as Publisher of Philippine Graphic magazine, Former President and Chairman Emeritus of the Publishers Association of the Philippines, Inc. (PAPI), former President of the Manila Overseas Press Club, and Secretary of the Catholic Mass Media Awards. He also served as a UNESCO Commissioner and was recognized as a youth leader early in his career.
Beyond journalism, Dayang demonstrated public service as Governor of the Philippine Red Cross, a volunteerism advocate and friend of current Chairman and former Senator Richard Gordon. He also served as Officer-in-Charge Mayor of Kalibo, Aklan, and worked in public relations for the Ambassador Antonio L. Cabangon Group of Companies.
Rehabilitation planned for aging ‘Marcos-type’ school buildings; President cites need for clean water supply
PBy Samuel P. Medenilla @sam_medenilla
UBLIC school buildings, which were built during the time of former President Ferdinand Marcos Sr. over five decades ago are set to undergo rehabilitation.
President Ferdinand Marcos Jr. made the remark at the sidelines of the launch of Brigada Eskwela for school year 2025-2026 at the Tibagan Elementary School in San
Miguel, Bulacan last Monday. He noted while the so-called “Marcos-type” school buildings like the Tibagan Elementary School, were supposed to last only for 20 to 30 years, the said structures continue to be used today, but now have shabby facilities.
“But [I]really have to look at the rehabilitation of many of them. One of the things that I noticed are the bathrooms. We really need to clean them up and beautify the
NUP backs Speaker Romualdez
THE National Unity Party (NUP) has reiterated its unwavering support for House Speaker Martin Romualdez with the party president blasting Deputy Speaker and Cebu Rep. Vincent Franco “Duke” Frasco for allegedly pushing a personal agenda that “threatens unity” within the pro-Marcos coalition.
Outgoing Camarines Sur Rep. LRay Villafuerte issued a statement in response to Frasco’s claim that his refusal to sign the manifesto of support for Romualdez was rooted in a call for “unifying leadership” in the House of Representatives.
“The members of the supermajority coalition, with Duke’s exception, are four-square behind Speaker Martin Romualdez] to remain at the helm of the House of Representatives in the next Congress to help stay the course of President Marcos’ agenda of better lives for all Filipinos,” Villafuerte said.
Villafuerte dismissed Frasco’s
bathrooms,” Marcos said partly in Filipino.
He also noted another challenge in improving the public school facilities in Bulacan was the province’s apparent lack of reliable water supply.
“So that’s what we’re going to look at carefully where the water should come from,” Marcos said.
“Why is there no water and they pay for their water supply. So for me that’s basic, because even the health of the child is affected, yes,
yes, they get sick if the bathrooms they go to are not clean,” he added. DepEd describe the Marcos Pre-Fabricated School Building or the “Marcos-type” school buildings as those which were built in the 1970’s during the administration of the former President Marcos using study steel features. It noted many of the facilities are still in use today and undergo continuous rehabilitation from DepEd.
amid Frasco’s allegations of coalition disunity
claims of political disunity as baseless, especially given the latter’s recent expulsion from the NUP for unilaterally withdrawing support from Romualdez without party consultation.
“Duke [Frasco] claims he had withdrawn his support for Speaker Martin supposedly because the quest for national unity on the Marcos presidency has been ‘undermined by political and personal interests, Villafuerte said.
Villafuerte further alleged that Frasco’s actions were a calculated move to pressure Romualdez into retaining him as deputy speaker in the incoming Congress.
“Duke was expelled [from NUP] last week for sowing disunity and discord himself in making his unilateral move to withdraw support from Congressman Martin in blatant contravention of the NUP’s unanimous support for the Speaker to keep his post in the next Congress—and without first consulting our party,” Villafuerte said.
Frasco’s claim that he consulted fellow lawmakers, local leaders, and his constituents in Cebu before making his decision was also questioned by Villafuerte, who called it “possibly a figment of his imagination.”
According to Frasco, a “shared frustration” has surfaced among those he spoke with, pointing to a growing sentiment that unity under the current House leadership is eroding. “There is deep disappointment that the unity our people once hoped for has been steadily undermined by political and personal interests,” he said.
The Cebu lawmaker invoked President Marcos’ continued calls for unity, stability, and a government focused on delivering real change. Frasco emphasized that the House should embody these values in both legislative work and its leadership structure.
Real unity
MEANWHILE , Deputy Speaker
David Suarez of Quezon questioned Frasco’s concept of “unity” in light of overwhelming support for Romualdez.
Speaking to reporters after a House Quad Committee hearing, Suarez pointed out that 285 incoming House members have already signed a manifesto backing Romualdez’s continued speakership.
“Well, if you look at the support that Speaker Romualdez has garnered and continues to maintain, 285 congressmen have signed the manifesto of support,” Suarez told reporters. Suarez emphasized that the manifesto was not just a symbolic gesture but a reflection of broad consensus for the continuing leadership of Romualdez. He noted that the manifesto, which gained momentum after the 2025 elections, reflects a clear consensus from both returning and newly elected members of the 20th Congress.
Jovee Marie N. Dela Cruz
Angara vows to combat fraud in senior high voucher program amid ongoing investigation
By Claudeth Mocon-Ciriaco @claudethmc3
AFTER uncovering anomalies involving Senior High School Voucher Program (SHS-VP) claims for School Years (SY) 2021-2022 and 2022 2023, Education Secretary Juan Edgardo “Sonny” Angara on Monday assured that they are addressing to combat such fraud effectively to prevent it from happening again.
In an ambush interview with the media at Barihan Elementary School in Malolos City, Bulacan, for the nationwide kickoff of Brigada Eskwela 2025, Angara said that from prepaid, the Department of Education (DepEd) will now issue postpaid vouchers.
“Ngayon, naipapakita na nagenroll talaga iyong bata bago babayaran,” Angara stressed. Hindi basta-basta maka-claim ng refund dito ang mga eskwelahan,” he added.
He also said that there are “insiders” from DepEd that are involved in such fraudulent activity. “May mga numero silang nagagamit. Parang may insider sila dati sa DepEd na nakukuha na lang iyong impormasyon. Nagagamit nila iyong impormasyon ng isang bata para ipakita na kunwari merong naka-enroll na eskwelahan, pero wala talagang nag-enroll na bata,” Angara explained. Earlier, DepEd said that they were able to recover some P65
million after launching an investigation. DepEd demanded refunds from 54 private schools flagged for irregularities in the SHS-VP.
The investigation, according to DepEd is still ongoing. Angara said that schools who still refused to pay will be facing sanctions, including the filing of cases.
“Kakasuhan po yan. Kung ayaw pang magbayad yung eskwelahan, pwede kasuhan po yan. Pati yung mga official,” Angara said.
DOJ challenges anonymous BI employees to come out and present evidence vs. Viado
ment officials to politicize the BI.
TThe memorial drew notable attendees including former President Gloria Macapagal Arroyo, a close family friend who was Ninang at Johnny and his late wife Ofelia Dayang’s wedding anniversaries and at their son Juan Jr.’s wedding. Johnny and Ofelia’s children—Bernadette; Juan Jr., with wife Maria Francesca; and Geraldine, with husband Atty. Jose Roderick Fernando and their children—were joined by extended family and supporters.
The Mass was celebrated by Fr. Alex Colmeiro, who spoke about compassion and justice in the face of tragedy.
Following the service, guests shared a merienda cena and viewed a memorial table featuring Johnny’s book Echoes from the Woodwork, a collection of columns chronicling two decades of Philippine history.
The Dayang family calls on authorities to intensify efforts to bring justice, as the hired gunman remains at large and the mastermind has yet to be identified.
Though his voice has been silenced, Johnny Dayang’s legacy endures as a symbol of truth, integrity, and service.
By Joel R. San Juan @jrsanjuan1573
HE Department of Justice
(DOJ) challenged the alleged anonymous employees of the Bureau of Immigration (BI) to come Monday out in the open and present evidence in support of their claim of corruption and misconduct against the agency’s Commissioner Joel Viado.
In an interview, DOJ spokesman Jose Dominic Clavano IV also made an appeal to government detractors not to use the current political climate, particularly the directive of President Ferdinand “Bongbong” Marcos’ Jr. for courtesy resignation of key govern -
“You can be assured that the DOJ has constantly given guidance and orders to the Bureau of Immigration to follow the President’s directive – not only in his words but as well to the spirit behind the directive,” Clavano said.
“Let’s us not use the political climate to further personal agenda,” he added.
Clavano was reacting to a news report that an anonymous letter allegedly coming from BI employees accusing Viado of abuse of authority in handling cases involving the banned Philippine Offshore Gaming Operators (Pogos) has reached the Palace.
The letter accused Viado of
having an agenda in expediting the bail release of foreign nationals involved in Pogo operations.
The letter claimed that Viado issued a release order on behalf of three “influential bosses” behind a raided Pogo hub.
The letter also questioned the special treatment accorded by Viado’s to 39 foreign nationals caught illegally working in Taguig City by keeping them at the BI’s conference room instead of turning them over to the BI Warden Facility.
The anonymous employees also accused Viado of negotiating the release of 114 foreign workers of Pogo firm Asian Gaming Technology who were arrested on March 19 by authorities. Furthermore, the employees claimed that quota visas, which grant permanent residency to a specified number of foreign nationals, were being auctioned off under his leadership. Clavano, however, said an anonymous white paper can be likened to fake news if not substantiated. He stressed that the DOJ, which is the mother department of the BI, cannot act on claims. The DOJ official also stressed that Justice Secretary Jesus Crispin Remulla has been monitoring the developments within the BI, particularly its compliance with his directive to eliminate corruption among its ranks.
Bong Go sends aid to fire-hit families in Tanauan, Leyte; reiterates call for long-term housing, fire safety solutions
THE Malasakit Team of Senator Christopher “Bong” Go visited Barangay Sto. Niño in Tanauan, Leyte to extend much-needed assistance to families affected by a recent fire incident.
Acting on the senator’s directive, the team engaged with the community and provided relief while echoing his call for sustained vigilance against fires and resilient housing support.
The engagement held at the barangay gymnasium on May 27 focused on 13 affected families whose homes were
lost or damaged in the blaze. The team distributed grocery packs, vitamins, shirts, and snacks, offering immediate aid and spending time with the victims to personally relay Go’s message of compassion and solidarity.
“Huwag po kayong mawalan ng pagasa. Ang gamit po, napapalitan, pero ang buhay ay hindi. A lost life is a lost life forever. Magtulungan lang po tayo, sino ba naman ang magtutulungan kundi tayo kapwa Pilipino. Magseserbisyo ako sa inyo sa abot ng aking makakaya,” said Go in a
video message. He also acknowledged the critical role of barangay leaders in times of crisis. “I sa lang po ang pakiusap ko sa mga barangay officials: ‘Wag pabayaan ang mga kababayan nating mahihirap,” he reminded.
“Bukasdapatpalagianginyongtanggapan tuwing may nangangailangan.”
Go, known for his pro-poor legislative work, reiterated his commitment to providing shelter assistance to fire-affected communities. He filed Senate Bill No. 192, which proposes the establishment of a Rental Housing Subsidy Program for disaster victims. The measure aims to provide temporary shelter assistance while affected families transition to permanent housing if enacted. He also cited the Bureau of Fire Protection (BFP) Modernization Act of 2021, which he principally authored and co-sponsored. The law strengthens the agency’s capacity to prevent and respond to fire-related emergencies through improved training, and additional equipment, facilities and personnel.
Low inflation masks harsh reality: Many Pinoys still struggling to make ends meet
THE latest data from the Bangko Sentral ng Pilipinas (BSP) and the Philippine Statistics Authority (PSA) paint a sobering picture of the Filipino consumer’s reality. Despite a headline inflation rate slowing to a 66-month low in May, the burden on ordinary Filipinos remains heavy due to persistently high food prices, stagnant incomes, and bleak job prospects. This combination has driven consumer confidence to its lowest levels in years. (Read the BusinessMirror story: “Food prices high amid inflation at 66-month low,” June 5, 2025).
While the overall inflation rate of 1.3 percent in May 2025 is cause for cautious optimism, it masks the uneven impact of rising prices on essential commodities. Food inflation remains stubbornly high, with staple items such as pork, fish, eggs, and vegetables experiencing sharp price hikes. Pork prices surged by 7.9 percent, fish by 5.7 percent, and eggs by 4.9 percent—figures that translate into a direct hit on the budgets of millions of Filipino families.
For the lowest-income households, these increases are particularly devastating. Even with an average inflation rate near zero for the bottom 30 percent, the reality is stark: pork prices rose by nearly 12 percent, chicken by over 8 percent, and tomatoes and onions by 15 to 20 percent. These figures represent daily struggles to put food on the table, forcing families to make difficult trade-offs between nutrition and affordability.
The BSP’s Consumer Expectations Survey reveals a steady decline in consumer confidence, with the overall confidence index sinking to -13 percent in the first quarter of 2025. This signifies a growing number of Filipinos who are pessimistic about their economic future. (Read the BusinessMirror story, “BSP poll: Pricey food, low pay, few good jobs dim Q1 outlook,” June 7, 2025).
This negative sentiment is fueled not only by rising costs but also by the reality of low incomes and limited job opportunities. The economic outlook for many Filipinos appears bleak, despite modest improvements in some macroeconomic indicators. When consumers lack confidence, spending slows, and economic growth stalls.
The BSP has reiterated its commitment to keeping inflation manageable within its 2 to 4 percent target range, emphasizing that stable prices encourage investment and job creation. However, monetary policy alone cannot address the root causes of economic hardship experienced by the Filipino people. Supply-side issues, such as agricultural production challenges and distribution inefficiencies, must be tackled to stabilize food prices. Moreover, social safety nets and targeted income support are essential to shield vulnerable households from inflation shocks.
The data from the BSP and PSA should sound the alarm. Although low inflation rates may be promising at the national level, the harsh reality is that many Filipinos are still struggling to make ends meet. Soaring food prices, combined with stagnant incomes, are chipping away at consumer confidence and dimming hopes for a better tomorrow. Policymakers must go beyond statistics and tackle the everyday challenges that poor families encounter. The Filipino people deserve no less than a future where economic stability and prosperity are shared by all—not just a fortunate few.
Opinion
EU-China trade war could squeeze PHL
TJohn Mangun
OUTSIDE THE BOX
HE Philippines, vulnerable to global trade shifts, fixates on trade disputes between the United States and China. Yet, Europe’s confrontation with Beijing demands serious attention. Brussels criticizes American trade tactics as unfair, ignoring its own protectionist past while championing free trade. However, Europe’s quieter yet more significant trade conflict with China intensifies rapidly with stark realities. For Manila, this distant struggle holds critical implications.
In April 2024, the European Union initiated its first investigation under a 2022 rule designed to penalize nations that exclude European firms from public contracts. The investigation focused on China’s medical device market, where the “Buy China” policy barred foreign companies from 87 percent of 380,000 public
tenders between 2017 and 2024.
The “Made in China 2025” strategy targets 70 percent domestic sourcing for high-end medical devices this year, up from 50 percent in 2020. Consequently, China transformed a €1.3 billion trade deficit in 2019 into a €5.2 billion surplus by 2021.
On June 2, 2025, EU member
The Philippines, preoccupied with US-China trade tensions, overlooks the consequences of the EU-China dispute. Now it gets local. With Chinese firms excluded from the Europe’s €2 trillion procurement market, 15 percent of global medical device demand, they will likely redirect excess products to smaller markets such as Southeast Asia, impacting the Philippines significantly.
states voted to exclude Chinese medical device firms from public contracts exceeding €5 million ($5.7 million) for five years unless Beijing grants EU companies market access.
The European Union’s €2 trillion procurement market now operates as a restricted domain, employing measures such as bid penalties or outright exclusions. Rabobank analyst Michael Every describes this as “economic muscle-flexing,” demonstrating that trade strategies extend
‘Most unloved bonds’ turn routine US auction into crucial
By Liz Capo McCormick & Michael Mackenzie
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beyond tariffs.
Beijing, swift to condemn American trade policies, labeled the European Union’s ban as protectionist and pledged support for its own firms. China’s Commerce Ministry wants negotiations, but a business coalition including automaker BYD, warned that trade relations could collapse. They argue that Europe disregards prior market access for European firms, despite a 20 percent decline in China’s medical device imports from 2019 to 2023. At a Manila trade summit last year, a Dutch medical device executive expressed frustration, stating that China’s state-supported firms undercut his company’s bids by 30 percent below market rates. “The competition lacks fairness; the system is rigged”. This challenge will confront the EU as it hosts China’s Commerce Minister in Paris this month and prepares for a Beijing summit in July.
Former US trade official Wendy See “Mangun,” A13
test
LOBAL investor pushback against long-term government debt is turning what normally would be a routine US bond auction into one of the most anticipated events on Wall Street this week.
The Treasury is set to sell $22 billion of 30-year government bonds on Thursday, part of its regularly scheduled borrowings. The results, though, will receive special attention because they will offer an instant readout on the scope of market demand at a time when investor appetite for 30-year US debt has soured.
“All the auctions will be viewed through the lens of a test of market sentiment,” said Jack McIntyre, portfolio manager at Brandywine Global Investment Management. “It feels like US Treasury 30 years are the most unloved bonds out there.”
Yields on long-term global debt have soared in recent weeks as concern over spiraling debt and deficits led some investors to shun the securities and prompted others to demand a higher premium for the risk of lending to governments.
US 30-year yields touched a near two-decade high of 5.15 percent last month, and even at 4.97 percent on Friday were still more than a halfpoint above levels seen as recently as March. The benchmark steadied at 4.97 percent in Asia trading Monday.
Higher yields mean funding pressure at a time when the US is borrowing more and government spending remains rampant. The House-passed
version of President Donald Trump’s tax-and-spending bill is forecast by some to add trillions to US budget deficits in the years ahead. Moody’s Ratings lowered its credit score on the US last month.
“We are in a disturbing fiscal trend,” said Fred Hoffman, a former fund manager who turned to academia about seven years ago and is now a professor of finance at Rutgers Business School.
Hoffman said he’ll monitor the results of the auction next week while he’s at his vacation home in Martha’s Vineyard. Details such as the auction “tail”—where yields settle versus the when-issued level—and the extent to which orders exceed the amount of debt for sale will provide clues about demand. Foreign participation will also be in the spotlight.
“If this auction and the next auctions continue to break down with lousy tails and horrible bid-to-cover ratios, then we have problem,” said Hoffman, who discusses debt markets and mechanics in some of his class lectures.
Lackluster demand for a May 21 auction of 20-year bonds—not an investor favorite—was enough to send yields surging that day. A similar performance for the 30-year bond,
Yields on long-term global debt have soared in recent weeks as concern over spiraling debt and deficits led some investors to shun the securities and prompted others to demand a higher premium for the risk of lending to governments.
a global benchmark, would be even more worrisome.
The Treasury will also auction $58 billion of three-year notes on Tuesday and $39 billion of 10-year debt on Wednesday.
To be clear, no one is raising the possibility of a so-called failed auction, and there are backstops embedded in the process to help avoid major dislocations. A network of two dozen primary dealers is required to bid at all auctions.
The recent rise in yields may also draw in buyers. Brandywine’s McIntyre said he recently bought 30-year bonds at a yield of around 5 percent, a level some see as attractive.
‘Becoming disconnected’ FOR many, though, the bigger picture is one of elevated long-term yields for the foreseeable future, even if the outlook for shorter-term securities improves once the Federal Reserve moves closer to cutting interest rates.
Greg Peters, co-chief investment officer at PGIM Fixed Income says it’s just safer to avoid long-dated Treasuries given they are increasingly
linked to political forces rather than monetary policy.
“Look at what’s happening in the long-end rates market: It’s becoming disconnected,” said Peters, who helps oversee $862 billion of assets, in an interview with Bloomberg TV on Friday. “It’s being driven by risk premium, politics, all these other factors.”
A reading on Friday of US employment in May beat forecasts, prompting a rise in yields.
Still, swaps traders are pricing in expectations that the Fed will cut rates by about a half a percentage point in the second half of the year. Fed rate reduction wagers have waxed and waned since December, with the prospect that the Trump administration’s tariffs agenda will reignite inflation serving as the primary catalyst for when traders have adjusted wagers.
Yields have retreated “as growth concerns resurfaced, but the bigger picture is that they are on a longterm upwards path as long as fiscal restraint remains a quaint notion, as it seems to be in countries around the world,” said Bloomberg strategist Simon White.
All of this has triggered a socalled steepening of the yield curve and surge in the compensation investors demand—known as term premium—to lend money to the government for decades.
A widely-followed New York Fed measure of 10-year term premium is now at almost three-quarters of a
China consumer deflation streak persists as price wars rage
CHINA’S consumer deflation extended into a fourth month, as price wars intensified while a spending boost during two national holidays failed to offset the drag from weak domestic demand.
The consumer-price index fell 0.1 percent in May from a year earlier, the National Bureau of Statistics said Monday. Factory deflation persisted into a 32nd month, with producer prices falling the most in nearly two years. The threat of entrenched deflation in China will likely linger for months to come as consumers hunker down after a prolonged property slump and companies become mired in price wars. The risk is compounded by trade frictions with the US, even as the two countries agreed to continue talks after a call last week between Donald Trump and Xi Jinping. Asian stocks opened higher with trade negotiations set to resume in London on Monday, while positive jobs data in the US eased recession fears. The benchmark CSI 300 Index of onshore stocks rose as much as 0.5 percent.
The talks offer a glimmer of hope that the world’s two largest economies can defuse tensions and potentially lower tariffs that reduce US demand for Chinese goods and potentially worsen China’s industrial overcapacity and intensify price wars.
In the latest example of cutthroat competition, carmaker BYD Co. slashed prices by as much as 34% on almost a dozen of its electric and plug-in hybrid models, stoking concerns of another wave of discounting in the EV market.
Holidays at the beginning and end of May brought temporary respite, however, when demand for services heated up during a popular time for travel and visiting family.
“There’s no end in sight for deflationary pressures in China yet... Policymakers are delivering on budget plans but resources don’t appear to be going where they could make a difference for consumers. Price wars in goods and services aren’t helping, either,” said Bloomberg economist Eric Zhu.
Dong Lijuan, chief statistician at the NBS, blamed the steep decline in producer prices on a high base last year and a drop in global prices for oil products and chemicals. Meanwhile, prices of coal and other raw
. . Continued from A12
Cutler observes that the EU balances diplomacy with China against actions targeting unfair practices. Beijing, however, views its policies as equitable and threatens retaliation. RAND analyst Gerard DiPippo noted that China’s response signals consequences for economies that oppose it. FAFO? The EU’s firm stance reveals a complex global trade conflict where nations prioritize their own interests.The Philippines, preoccupied with US-China trade tensions, overlooks the consequences of the EU-China dispute. Now it gets local. With Chinese firms excluded from the Europe’s €2 trillion procurement market, 15 percent of global medical device demand, they will likely redirect excess products to smaller markets such as Southeast Asia, impacting the Philippines significantly.
In 2023, the Philippines imported $150 million—not huge but notable —in medical devices, with China supplying just 15 percent. Asean projections suggest that if Beijing
Opinion
BusinessMirror
When a tax
warrant isn’t final
Imaterials at home declined because of ample inventory, further dragging down the index, she said in a statement accompanying the data release.
Losses in jobs and incomes caused by US tariffs threaten to weaken the ability and willingness of Chinese consumers to spend, likely prompting manufacturers and service providers to cut prices.
A program to subsidize consumer purchases has boosted sales of home appliances since last year, but economists have warned the effect won’t last and comes at the expense of other goods. The Economic Daily, an outlet overseen by China’s cabinet, published a front-page editorial on Sunday calling for better policy to support consumption, including by easing regulations and lifting income.
Morgan Stanley economists led by Robin Xing said last week that they see deflation “getting deeper, not better,” warning China’s economic growth may decelerate quickly in the second half of the year “with slower exports and a sluggish consumption appetite.”
The International Monetary Fund projects China’s consumer inflation will average zero this year, the lowest of the almost 200 countries it covers. That would be the weakest reading for China since 2009, when the global financial crisis hammered exports.
The latest monthly surveys of purchasing managers showed output prices weakening both in manufacturing and services. In May, the rate of discounting in the services sector reached the steepest in eight months, according to a report last week from Caixin and S&P Global.
A recent Bloomberg survey of 67 economists also showed deflationary pressure is expected to get worse in China.
Consumer prices will likely increase by just 0.3 percent in 2025 from a year ago, the lowest projection since Bloomberg began polling the question in 2023. Producer prices are now expected to decline 2 percent this year, worse than the 1.8 percent previously estimated by the economists, according to the survey. With assistance from Josh Xiao /Bloomberg
subsidizes firms to offset European losses, China’s share could reach 30 percent in two years, flooding the market with less expensive devices, giving China more market control. Philippine hospitals, reliant on imports, face price hikes if EU-China tensions disrupt supply chains. China’s tactic—cutting prices to seize markets, then raising them— reverses the stock market’s “pump and dump” scheme. The Department of Trade and Industry reported a 10 percent rise in medical import costs from 2022 to 2024 due to global trade disputes. If China floods the market to bypass EU barriers, costs could surge more by 2026. Manila must urgently seek other reliable suppliers like Japan’s Toshiba or South Korea’s Samsung to shield its healthcare system from this trade conflict’s fallout. Or, believe it or not, make these products in the Philippines. Ever heard of “Import Substitution”?
me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
percentage point, after being negative about a year ago. That’s
a surcharge if they are do -
Atty. Irwin C. Nidea Jr.
TAX LAW FOR BUSINESS
N the world of business, few things prompt more unease than receiving a letter from the Bureau of Internal Revenue (BIR)— especially one bearing a Warrant of Distraint and/or Levy (WDL). This document authorizes the BIR to collect alleged unpaid taxes by seizing a taxpayer’s assets, including bank accounts, vehicles, or even real property.
But every taxpayer should remember that receiving a WDL does not automatically close your case, nor does it mean your legal remedies have vanished. Under certain circumstances, you may still question, delay, or even stop the enforcement action.
What is a Warrant of Distraint and Levy?
A WDL is a collection mechanism the BIR uses when it deems taxes to be due and unpaid. The process involves:
n Distraint—the seizure of personal property (e.g., cash, inventory, or equipment), and n Levy—the seizure of real property (e.g., land or buildings).
The WDL allows the BIR to proceed with collection without needing a court order—but only after due process has been observed.
What should you do upon receiving a WDL?
1. Check if You Filed a Protest
If you previously received a Final Assessment Notice (FAN) and disagreed with it, you should have filed a protest within 30 days of receipt. If you did—and the BIR has not yet resolved it—then issuing a WDL may
be premature.
Why does this matter? Because the Supreme Court has held that issuing a WDL without first addressing a valid protest is improper. In such cases, the WDL cannot be considered a final decision on your case and may be subject to legal challenge.
2. Examine the WDL closely Not every WDL qualifies as the BIR’s final say on your tax assessment. Courts have ruled that a WDL may only be treated as the Commissioner’s final decision if: n Your protest was resolved and explicitly denied, and n The WDL (or an attached notice) clearly states that it constitutes the final decision on the disputed assessment.
If both conditions are met and you have not yet appealed, you must file an appeal with the Court of Tax Appeals (CTA) within 30 days of receiving the WDL. Missing this window can forfeit your right to contest the assessment.
What if the WDL is not a Decision?
Here’s a key nuance: if the WDL does not state phrases like “final
Ultimately, knowing your rights and available remedies can make all the difference—between the unguarded loss of assets and a well-grounded legal defense. Understanding your rights and remedies could spell the difference between hastily losing assets and confidently defending your position under the law.
denial,” “this constitutes the Commissioner’s final decision,” or “this is your last opportunity,” it may not trigger the 30-day appeal period. In such cases, the WDL might be procedurally defective, especially if your protest is still pending.
What, then, is your remedy?
One possible course of action is to file a petition for certiorari with the Court of Tax Appeals. This petition questions the BIR’s issuance of the WDL on the ground of grave abuse of discretion, particularly when the agency acts prematurely or without resolving a pending protest. This approach was recently affirmed in a CTA decision.
What makes this remedy practical is that it helps avoid a procedural dilemma: without it, a taxpayer might be forced to file two separate appeals—first, challenging the WDL as a final decision on the protest, and second, appealing the Commissioner’s subsequent denial of a motion for reconsideration. A certiorari petition streamlines the process by directly questioning the BIR’s procedural misstep.
TThis issue has long been the subject of legal uncertainty. The Supreme Court has issued conflicting decisions on whether the BIR may enforce collection through a WDL while the taxpayer’s appeal is still pending in court. We have discussed these varying rulings extensively in previous articles.
For now, it is essential to understand that while the BIR has broad enforcement authority, that power is not without limits. Businesses are entitled to due process, and the courts have consistently protected taxpayers from premature or procedurally flawed actions. Still, the lack of clarity on how to properly address a “premature” WDL continues to present challenges. Ultimately, knowing your rights and available remedies can make all the difference—between the unguarded loss of assets and a wellgrounded legal defense. Understanding your rights and remedies could spell the difference between hastily losing assets and confidently defending your position under the law.
The author is a senior partner of Du-Baladad and Associates Law Offices (BDB Law) (www. bdblaw.com.ph). The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.
It is important to note, however, that the CTA’s recent ruling on this remedy has not yet formed part of settled jurisprudence. At present, taxpayers facing a “premature” WDL must decide—often at their own risk—whether to pursue an appeal or file a certiorari petition. Can the BIR issue a WDL while an Appeal is pending?
Wages, workers, and the real work we must do
By Henry Go
HE House of Representatives’ approval of a P200 daily minimum wage hike is well-meaning—but may cause more harm than good if not done with careful planning. It aims to ease workers’ burdens, but without fixing deeper problems, it may trigger inflation, layoffs, and even business closures—especially for small and struggling businesses.
1. Context and caution:
While labor unions welcomed the move, business organizations like the PCCI, ECOP, PHILEXPORT, and FFCCCII raised strong objections. Their reason is obvious: without a comprehensive support system, an abrupt across-the-board wage increase could disproportionately hurt MSMEs—99 percent of Philippine businesses that employ more than 60 percent of the country’s workers.
With today’s precarious recovery—characterized by global supply chain disruptions, timid consumer demand, and ongoing fiscal deficits—even in the absence of a wage increase, the business environment is not conducive to further cost burdens. Schemes to balance wage support with increased taxes have the potential to depress investment when the nation needs to attract capital and innovation in the region.
2. Economic consequences of a wage mandate
a. Inflation and Price Pressure
Inflation in May 2025 was at a low 1.3 percent—the calmest in years. But a sudden P200 wage hike could reignite inflation as companies pass costs onto consumers. If productivity doesn’t rise with wages, prices will, eroding any gains workers hoped to see.
b. MSMEs and informal work
Many small businesses run on thin profits. They might react to higher wage costs by hiring fewer workers, letting people go, or moving to informal arrangements without
miciled in countries with “unfair” tax regimes, has stirred concern of a buyers’ strike on US debt. House Ways and Means Committee spokesman JP Freire has said the retaliatory tax wouldn’t cover portfolio interest such as on
benefits or protections. This only weakens job security and increases inequality.
c. Tax trade-offs
Higher wages might boost personal income taxes—but if businesses close or cut staff, we could lose VAT and corporate tax revenue. Instead of new taxes, the government should widen the tax base: strengthen VAT collection, tax digital platforms fairly, and phase out old, unproductive tax breaks with clear expiration dates.
d. R isk of automation
If wages rise too quickly, big companies might speed up automation to cut costs. This could eliminate many low-skilled jobs. Meanwhile, MSMEs that can’t afford automation may lay off workers or shut down. This widens the gap between big and small businesses, and between rich and poor regions. We need a digital transition plan that helps workers and MSMEs adap—through training, tax breaks, and job creation in growing sectors like e-commerce and the gig economy.
3. High wages, low productivity
The Philippines already has among the highest minimum wages in Southeast Asia. But worker productivity is low. In 2022, the average Filipino worker added only P425,511 (around $8,400) to the economy each year—compared to Vietnam ($11,000), Thailand ($17,000), and Malaysia ($30,000+), according to IBON Foundation and Southeast Asian data.
If wages go up without productiv-
Raising wages without fixing the system is like bandaging a wound without stopping the bleeding—temporary, and ultimately harmful.—It may look helpful, but it won’t solve the problem—and could make it worse. Real solutions mean lowering the costs of living, improve services, and giving people real opportunities to grow. Without this, wage hikes will only lead to more inflation, job losses, and deeper debt.
ity rising too, employers may cut back on workers or raise prices. It becomes harder for small businesses to survive—and harder for the economy to grow sustainably.
4. Limited fiscal space: No room for subsidies
Some argue that subsidies can help soften the blow of wage hikes. But subsidies require new taxes or more borrowing—neither of which is ideal. Our debt ballooned during Covid-19, rising from 39.6 percent of GDP in 2019 to over 60 percent in 2021. With growing defense costs, social spending, and interest payments, we don’t have room to spare. Raising taxes just to fund subsidies would only shift the burden to ordinary people and small businesses, canceling the benefit of the wage increase.
5. W hy investors remain cautious Even generous tax breaks won’t attract investors if costs are high and returns are low. The Philippines still struggles with poor infrastructure, high logistics costs, expensive utilities, and unreliable Internet. Without fixing these, foreign and local investors alike will look elsewhere. And without investment, we can’t create jobs or grow the economy.
6. Strategic wage reform roadmap We don’t have to choose between workers and businesses. We need to fix a broken system where both sides are under pressure. To make wage increases sustainable, we need a comprehensive, productivity-based plan:
a. S trengthen Regional Wage Boards Let regional boards set wages based on local costs and conditions, not a national one-size-fits-all policy. b. Link Wages to Productivity Tie wage increases to real gains in worker output so both workers and businesses benefit.
c. Support MSMEs and Skills Training Give conditional support to small businesses that follow labor laws and keep jobs. Finance this by improving VAT and digital tax collection and removing outdated tax breaks. At the same time, invest in training programs to help workers upskill and adapt.
d. Improve Coordination Align wage policy with national recovery plans and productivity programs to make sure reforms work together, not against each other.
7. Conclusion: Reform, not illusion Raising wages without fixing the system is like bandaging a wound without stopping the bleeding— temporary, and ultimately harmful.—It may look helpful, but it won’t solve the problem—and could make it worse.
Real solutions mean lowering the costs of living, improve services, and giving people real opportunities to grow. Without this, wage hikes will only lead to more inflation, job losses, and deeper debt.
Let’s stop pretending short-term fixes are enough. Let’s start doing the real work. Break the cycle—not the economy.
Mangun.
Tuesday, June 10, 2025
BusinessMirror
Impeachment is economic issue–economists, MBC
By Andrea E. San Juan @andreasanjuan
ECONOMISTS
and a business group weighed the importance of proceeding with the impeachment trial of Vice President Sara Duterte, pointing out that this is an economic issue as the accusation involves misuse of public funds which could have been used for “productive” activities.
“The accusation is misuse of public funds. These are resources that have been used for productive activities. Hence, this is no longer political but economic,” Ateneo De Manila University (ADMU) economist Leonardo A. Lanzona told the BusinessMirror in a Viber message on Monday.
“Allowing public individuals to be free without trial after committing such corruption destroys the country’s culture of productivity. It is for these reasons why the country is not able to progress to the upper middle income status,” Lanzona also told this paper.
In a statement issued on Monday, the Makati Business Club (MBC) called on the Senate to “fulfill its constitutional duty” to convene the impeachment court and proceed with the impeachment trial of Vice President Sara Duterte.
The business group indicated that not proceeding with the impeachment trial would mean not adhering to the rule of law. In consequence, it said this might have an impact on the country’s strategy in bringing in investments.
“If we do not follow the rule of law, how can we expect to attract foreign and even local investors to bring in long term investments, which would lead to the creation of jobs?” MBC said in a statement.
Tariff body imposes anti-dumping duties on Thai gypsum board
By Andrea E. San Juan @andreasanjuan
THE Tariff Commission has ordered the imposition of anti-dumping duties on imports of standard gypsum board originating from Thailand for a period of five years, saying that dumped imports from Thailand caused “material injury” to the domestic industry.
“Having established that dumped imports from Thailand caused material injury to the domestic industry, the Commission hereby orders that anti-dumping duties be imposed on imports of standard gypsum board, faced or reinforced with paper or paperboard only originating from Thailand, for a period of five years,” the TC’s Notice of Conclusion and Decision on the Formal Investigation on the Imposition of Definitive Anti-Dumping Duty Against Importations of Gypsum Board from Thailand read.
Based on the Final Report of the Tariff Commission, the corresponding definitive anti-dumping duties shall be imposed on the following exporters: Gypman Tech Company Limited, 8.52 percent of Export price; Thai Gypsum Products PCL, 9.18 percent; Other Exporters from Thailand (All Others Rate), 9.18 percent.
According to the TC Report, the highest dumping margin of 9.18 percent shall serve as the residual duty or “All Others Rate” that will be applied to the following foreign exporters of subject article: those who did not make themselves known to the Commission; those who did not cooperate sufficiently with the Commission during the conduct of the formal investigation; and new foreign exporters who have not exported subject articles to the Philippines during the [period of investigation] POI.
The tariff body explained that the residual duty will cover future importations of the dumped products originating from Thailand, the country of export, by the said foreign exporters.
As to how the tariff body arrived at the decision to impose anti-dumping duties on gypsum board imports from Thailand, one of the findings noted that during the period of investigation for dumping determination of January 2022 to May 2023, there was dumping of standard gypsum board from Thailand.
“While I believe that there is merit in looking at the impeachment of the vice president, I believe that the issue is distracting lawmakers and the government from what they are urgently supposed to do,” added Oplas.
Oplas said the government is “wasting the taxpayers’ hard-
Through another economist’s lens, De La Salle University (DLSU) economist Maria Ella Oplas told the BusinessMirror that while this impeachment trial is seen to have implications on business and the economy as a whole, this issue is distracting the government from “what they are urgently supposed to do.”
By Ada Pelonia @adapelonia
adapt to harsher climate conditions, and reduce water and carbon footprints.
This would form part of ADB’s broader $40-billion commitment to food systems transformation by 2030, which was an-
nounced last month.
ADB Senior Director Qingfeng Zhang noted that a third, or $500 million, would be earmarked for the Philippines to bolster irrigation, farming, and agricultural logistics development.
“The investment for digital agriculture [...] they automate the wet and also drying, we call it AWD technology, which is for reducing methane emissions and also to save water,” Zhang told reporters in a press conference in Laguna on Monday.
“This new program will also support [...] not only just for rice production, but also help the
earned money debating and arguing while forgetting that political turmoil and stability is one of the important criteria for investors to come in our country and invest.”
“We have seen that during the time of Erap and other public servants that we pushed to be impeached. Again, while I believe in the constitutional role of our legislators to convene the impeachment, I believe that they should also focus on reviewing our laws
and systems to avoid this same thing from happening again,” Oplas also noted.
Still, she said that “This will have implications on business and the economy as a whole. It is signaling our investors that we are a country that is very political. Very divided.”
For his part, Former Socioeconomic Planning Secretary Dante B. Canlas told this paper that beyond being “favorable” to investments, “The impeachment trial must pro -
ceed to protect the right of every Filipino to know the truth about the VP’s use of taxpayers’ money.”
MBC said “The impeachment trial is meant to present evidence to determine if the charges against the Vice President have basis or not. The senators, individually, and the Senate, as an institution, will betray public trust and not provide the Vice President with the forum to refute charges if they do not proceed with the impeachment trial.”
“The volume of imports of standard gypsum board at dumped prices is not negligible, accounting for 71 percent of total Philippine imports of standard gypsum board during the POI for material injury determination of 2019 to September 2024,” the TC report noted.
Moreover, the tariff body said there was “significant” price undercutting by dumped imported boards, which led to “price suppression” as the industry’s average prices were
See “Tariff,” A2
SRA sets controls as RSSI infestation spreads
By Ada Pelonia @adapelonia
THE red-striped soft scale insects (RSSI) infestation has spread to around 841 hectares of sugarcane fields in Visayas as of June 6, according to the Sugar Regulatory Administration (SRA).
Based on SRA data, 841.7 hectares have been infested with RSSI as of June 6, significantly larger than the 87 hectares recorded on May 22. It has also affected 465 farmers since its detection in Negros, which accounts for 65 percent of the country’s sugar production.
With this, SRA Administrator Pablo Luis Azcona noted that the agency will implement controls
to prevent this from happening again.
“Secretary [Francisco Tiu Laurel Jr.] has told me that we should implement controls from this day forward, moving into the future with or without a disease, with or without a pest. This cannot happen again,” Azcona said during a forum on Monday.
The SRA will issue a resolution that would ban the entry and exit of plant materials to and from Negros, coordinating with the Bureau of Plant Industry (BPI) for enforcement.
This means planting materials for research facilities and commercial purposes will have to seek clearance from the SRA before transport.
“The BPI personally told me
they’ve monitored the movements of plants from Luzon. However, since there is no policy, they cannot stop and intercept it. So, a policy is required,” Azcona said.
Albeit an “inconvenience,” the SRA chief noted that the movement of plants and planting materials and commercial or research purposes should be initially approved by the SRA and forwarded to the DA through BPI through the region.
“SRA has a principle [to] never ship any plants or any samples of diseases or pests to Negros. We always ship out of Negros because we totally understand that 65 to 68 percent of the industry is in Negros,” Azcona said.
“If somebody makes a mistake somewhere, we just kill the
industry right at its heart,” he added.
The DA recently issued P10 million for pesticide procurement that would support pest containment efforts. Currently, sugarcane fields in Bacolod City are undergoing pesticide spraying operations as part of efforts to curb the spread.
The agency’s researchers have also identified a parasite that could naturally control the RSSI population. However, since the solution “will take time,” the SRA is banking on chemical pesticides. RSSI has been reported to cause significant damage to sugarcanes, with high temperature being identified as a key factor in its rapid population increase, according to the agency’s research center.
Editor: Jennifer A. Ng
CREC to invest $1B in RE capacity expansion–exec
By Lenie Lectura @llectura
LISTED renewable energy (RE) developer Citicore Renewable Energy Corp. (CREC) has earmarked $1 billion to finance the first 2 gigawatts (GWs) of its RE capacity target of 5 GW.
“The capex [capital expenditure] for 2025 would roughly be around north of $1 billion. Most of (the amount) has already been spent in the early parts of the year, for the 1 gigawatt that will be energized before the end of the year. The balance will be spent
for the second batch or the second gigawatt that we will break ground for towards the second half of the year,” said CREC President Oliver Tan during the company’s stockholders’ meeting.
CREC has set a goal of adding 5 GW of RE capacity in 5 years, bank-
ing on its track record for greenfield and brownfield development, its innovation and engineering, with the support of the capital markets and financial institutions.
The first gigawatt would be energized by the end of 2025. “We expect to energize additional total of around one gigawatt before the end of 2025,” added Tan.
CREC’s vertically integrated model gives the company an advantage in bringing its next line of projects to a ready-to-build status, and it is in the process of integrating battery energy storage systems (BESS) in its solar facilities.
“By complementing battery energy storage system with our solar plant, we are able to expand the delivery of our electricity to cover the night peak, therefore
expand our market share and ability to serve greater number of customers.”
CREC’s market share for the past three years, according to the Department of Energy, stood at 20 percent of total solar generated output for the past three years. Tan said CREC is aiming to maintain the same market share, if not increase, upon the energization of almost one gigawatt before the end of the year.
Its net income in 2024 stood at P1 billion, higher than the P910.1 million recorded in 2023 and the P833.6 million posted in 2022. Electricity sales drove the increase in revenues which reached P5.1 billion on the back of higher generation output and additional customers.
BCI buys minority stake in Pinnacle
By Lorenz S. Marasigan @lorenzmarasigan
CANADIAN investment management services firm British Columbia Investment Management Corp. (BCI) is acquiring a minority stake in Pinnacle Towers, an independent tower company in the Philippines, in a deal with global investment firm KKR & Co. Inc. KKR will remain the majority shareholder in the infrastructure platform that claims to have become the “largest independent tower company in the Philippines” boasting 7,000 towers.
“The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing highquality infrastructure assets alongside strong institutional partners,” BCI EVP Lincoln Webb said.
Pinnacle Chairman and CEO Patrick Tangney welcomed the entry of BCI, calling it a “strong endorsement” of the company’s mission to boost digital connectivity in the Philippines and the region.
“With BCI and KKR as strategic partners, we are well-positioned
to continue driving greater digital connectivity in the Philippines and across the region.”
KKR, which initially backed Pinnacle Towers through its Asia Infrastructure Funds I and II, said the investment has helped deepen the company’s capabilities and expand through both organic growth and acquisitions.
“We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers’ strong growth momentum,” KKR Manag-
ing Director Projesh Banerjea said. Established in 2020, Pinnacle Towers specializes in build-to-suit (BTS) tower projects, sale-andleaseback (SLB) asset optimization, and ancillary management services.
BCI’s infrastructure portfolio includes other communications tower companies in Asia such as Rakuten Mobile in Japan and Altius in India. KKR, meanwhile, is one of the most active infrastructure investors globally, with its Asia Pacific infrastructure platform managing about $13 billion in assets since its establishment in 2019.
Apple event to put focus on ‘existential risk’ of AI struggles
APPLE Inc. shares have been heavily tethered to United States trade policies this year, but its annual developer’s conference could refocus Wall Street’s attention on a potentially bigger problem: its struggles with artificial intelligence (AI).
The iPhone maker’s WWDC event kicks off Monday and isn’t expected to feature much in the way of major AI releases. That could shine a light on Apple’s shortfalls with the critical technology, threatening further weakness for its shares with few obvious catalysts on the horizon to turn things around.
“It’s hard to argue that Apple’s lack of standing with AI isn’t an existential risk, and it would be a real surprise if it came out with a significant AI development or application at WWDC,” said Andrew Choi, portfolio manager at Parnassus Investments.
“If it can paint a future where it is integrating and commoditizing AI, that would be compelling, because otherwise, what is going to get people to buy their next phone for a lot more money?” Shares are down 19 percent this year, making them by far the biggest drag on the Nasdaq 100, which has advanced 3.6 percent. While much of the selloff reflects Apple’s exposure to President Donald Trump’s tariffs and political uncertainty, its struggles with AI have been another significant headwind. The conference marks the oneyear anniversary of the introduction of Apple Intelligence, which sparked an initial wave of optimism that the AI features it unveiled would prompt consumers to upgrade their iPhones in droves. That proved premature,
‘Manila Water hits major milestone’
By Jonathan L. Mayuga @jonlmayuga
ANILA Water Co. Inc.
Mis now serving over 7.8 million water customers in the East Zone as the company continues to expand its reach and improve water accessibility.
The company said the milestone is a result of its “massive expansion initiatives and sustained efforts to install new service connections.”
Manila Water East Zone concession area, a 1,400-square-kilometer region, encompasses 24 cities and municipalities in Metro Manila and Rizal. This includes areas like Mandaluyong, Makati, Pasig, Pateros, San Juan, Taguig, Marikina, and most of Quezon City, along with portions of Manila and Parañaque.
In Rizal, it covers towns such as Angono, Baras, Binangonan, Cainta, Cardona, Jalajala, Morong, Pililia, Rodriguez, Tanay, Taytay, Teresa, San Mateo, and Antipolo
In April alone, Manila Water installed a total of 1,443 new water service connections, comprising 1,367 domestic and 76 combined commercial and industrial connections. The domestic connections included 1,046 regular and 321 non-regular connections, such as individualization and other specialized installations.
This brings the year-to-date total to 6,990 new domestic connections and 294 commercial/industrial con-
however, as features failed to impress and were repeatedly delayed, culminating with an AI-version of the Siri digital assistant getting postponed for the foreseeable future.
The lack of a robust AI offering stands in contrast to some Big Tech peers. Alphabet Inc. recently debuted a number of well-received AI features, and Microsoft Corp. is trading at all-time highs on AI optimism. Apple also faces potential competition from ChatGPT owner OpenAI, which said last month it’s acquiring io, a device startup co-founded by Jony Ive, the legendary designer and former Apple executive. Of course, Apple still offers plenty of attractive characteristics, including a huge user base, its high-margin services business, and immense profitability that it taps to return capital to shareholders through buybacks and dividends.
Those attributes still make the
stock appealing to Mark Bronzo, chief investment strategist at the Rye Consulting Group, despite lagging in AI.
“I expect its AI features will be more functional than cutting edge, and that means there’s nothing exciting about Apple where you’d want to own it over Nvidia, Microsoft, or Amazon, which have strong growth from their AI stories,” he said. “The flip side is that Apple’s cash flow and services business mean it can maintain its P/E in a downturn. It can sometimes be useful to be in a boring stock if the market goes sideways.”
Still, Apple’s AI struggles add to other investor concerns. Apple’s revenue growth is projected to be about 4 percent in fiscal 2025, compared with 14 percent for Microsoft or 11 percent for Alphabet. It also trades at 27 times estimated earnings, well below a recent peak around 34, but a premium to its average over the past
decade of 21. Last week, Needham became the latest Wall Street firm to downgrade the stock. Generative AI innovations from competitors “open the door for new hardware form factors that threaten iOS devices,” analyst Laura Martin wrote, cutting her rating to the equivalent of neutral. Fewer than 60 percent of the analysts tracked by Bloomberg who cover the company recommend buying, the lowest such rate among the seven most valuable US technology companies, which include Microsoft, Nvidia Corp., Amazon.com Inc., Alphabet, Meta Platforms Inc. and Broadcom Inc.
“Apple is growing at a single-digit pace without much ability to expand its margins, plus it faces risks from tariffs and China exposure while competitors make inroads with AI and it trades at a premium price,” said Choi. “There’s nothing compelling about all that.” Bloomberg News
CBy VG Cabuag @villygc
ITICORE Energy REIT Corp.
(CREIT) said it will further expand its portfolio with the acquisition of 250 megawatts of solar assets from its sponsor, Citicore Renewable Energy Corp. (CREC), by the end of the year.
Oliver Tan, CREIT president, said the real estate investment trust (REIT) is just awaiting the successful commissioning of the assets, which are already located on its landbank, to pursue the acquisition.
Tan said the acquisition reinforces the company’s investment case, enhancing CREIT’s dividends yield and increasing its portfolio value.
At the moment, all of the company’s assets are comprised of lands on which solar assets are built, completed and under construction, totaling 7.1 million square meters. It has a 100-percent occupancy rate yearround and has a weighted average lease expiry (WALE) of 20.44 years as of the end of 2024.
“To investors, this resulted in a consistent dividend payout of P0.049 per share for the first nine months of 2024, and a fourth quarter dividend of P0.055 per share,” Tan said.
In January to September 2024, the company declared a consistent dividend payout of P0.049 per share.
nections, for a combined 7,284 new water service connections in the first four months of 2025.
As of April, Manila Water has installed a cumulative 1,201,867 water service connections, including 1,143,282 domestic connections. These figures account for reclassified and reconnected accounts, reflecting the company’s commitment to inclusive and sustainable service delivery.
“Reaching over 7.8 million customers is a significant milestone that reflects the trust communities place in Manila Water. This achievement is not just about numbers—it is about our commitment to expanding access to clean, safe, and reliable water for every Filipino household we serve,” Jeric Sevilla, director of Corporate Communication Affairs Group, said in a statement.
With the expanded reach, Manila Water said it also maintained strict compliance with the Philippine National Standards for Drinking Water (PNSDW). In April, 100 percent of water samples collected from treatment plant outlets met the PNSDW requirements.
Additionally, the company exceeded its sampling targets, achieving 100.34 percent compliance across water treatment works, customer taps, and service reservoirs.
“These results underscore Manila Water’s commitment to delivering safe and high-quality water to its customers.”
For the full year 2024, CREIT paid dividends amounting to P0.202 per share—above the standard 90 percent of distributable income as mandated by the REIT law.
“Our accomplishments translated positively to our investors through record high dividends, and to our host communities through sustainability programs conducted with the Citicore Group,” Tan said. He said the company’s 3-year investment plan from this year through 2027 is more strategic in acquiring lands for renewable energy developments.
“After three years, our vision remains the same to be the foremost energy reit investment in the Philippines, delivering superior yields from a portfolio of sustainable prime land and solar assets.”
“Our land assets, which are primed to support such (renewable energy) developments, are an attractive opportunity for investors,” Edgar Saavedra, CREIT chairman, said.
“We expect investors to continue setting their sights on CREIT in 2025 seeing stable returns from this investment, but with our unique portfolio grounded in supporting renewable expansion in the Philippines, CREIT offers green investors ability in generating returns and a positive impact on sustainable development.”
MANILA Water's office in Marikina City. PHOTO FROM WWW.MANILAWATER.COM
PHOTOGRAPHER: GABBY JONES/BLOOMBERG
Banking&Finance
Govt expands T-bill offer as interest rates fall
By Reine Juvierre Alberto @reine_alberto
THE Bureau of the Treasury
(BTr) upsized the volume of Treasury bills (T-bills) it awarded for the third consecutive week on the back of increased demand and average yields declining across the board.
On Monday’s auction, the government generated a total of P28.6 billion by issuing short-term debt papers to investors who sought lower yields. This is now the third consecutive T-bills auction in which the Treasury was able to upsize the volume of government securities as rates continued to fall consistently. Total demand for all three tenors reached P98.259 billion, 3.9 times higher than the initial offering of P25 billion.
Rates of the 91-day T-bills averaged at 5.451 percent, 0.1 basis point lower than the 5.452 percent from the previous auction a week ago. The lowest rate settled at 5.424 percent, while the highest was at 5.469 percent. The tenor attracted P20.230 billion in bids, equivalent to 2.5 times the P8-billion offering, which was fully awarded. Meanwhile, the 182-day T-bills capped at an average rate of 5.524 percent, slipping by 4.1 basis points from 5.565 percent last week. The rate settled between 5.522 percent
Stronger together: How Filipino couples can make money work for their relationship
LET’S be real: love is sweet, but bills are real. In every marriage or serious relationship, money always finds a way to become part of the conversation whether we like it or not. For many Filipino couples, it’s not just about splitting expenses. It’s about aligning dreams, managing differences, and building a future together.
And let’s face it: talking about money isn’t always easy. But it’s also not impossible.
Like many couples, we came from different financial backgrounds, had different habits, and probably didn’t always agree on where the money should go. Sound familiar?
But instead of allowing the issue to drive them apart, they worked on it together; they talked, they adjusted. They started acting like a financial team, not opponents.
If you and your partner are figuring this out too, here are a few takeaways from journey lessons that feel especially relevant for Filipino couples today.
1. Talk about money before it becomes a problem. Many of us avoid money talks because we’re scared of what might come up. But the truth is, having honest (even awkward) conversations early on prevents bigger issues down the line. You don’t need to bring out spreadsheets or financial jargon. Just start with simple questions like:
“Where does our money usually go?”
“Are we saving for anything together?”
“Okay lang ba kung mag-budget tayo next month?”
Small, casual check-ins go a long way.
2. It’s okay to have separate money. Some couples prefer pooling all their income; others keep things separate and some do a mix of both. There’s no one-size-fits-all solution. What matters is you’re both on the same page. A “yours, mine, and ours” system can work well. You each have money you can spend freely, and you both contribute to joint expenses and goals. That freedom can actually help avoid petty fights about small purchases.
3. Define your shared goals. When you’re building a life together, you need to know what you’re working toward. A condo? A kid’s education? That dream trip to Japan?
Having shared goals makes it easier to say no to impulse buys
and 5.543 percent.
Bids for the security reached P38.580 billion, nearly five times the P8-billion program. The auction committee made a full award of the offering.
Further, the average rates of the 364-day T-bills dropped by 2.4 basis points to 5.656 percent from 5.680 percent a week ago. Rates ranged from a low of 5.635 percent to 5.673 percent.
Tenders for the debt paper amounted to P39.449 billion, 4.3 times the P9 billion initially programmed. The auction committee doubled the accepted non-competitive bids for the tenor, which brought the amount raised to P12.6 billion.
Yields of the 182- and 364-day tenors were below the secondary benchmark rates, while the 91-day tenor inched higher.
As of June 9, the Philippine Bloomberg Valuation (PHP BVAL) rates are 5.4413 percent for the three-month, 5.6097 percent for the six-month and 5.6814 percent for the one-year tenors.
According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, the T-bills average yields eased due to lower inflation in May, which fueled expectations of a possible rate cut in June.
“Some investors [are] positioning/locking relatively higher T-bill yield before BSP and T-bill yields go down further,” he said. Inflation slowed to 1.3 percent in May, the slowest rate in 66 months or since the 1.2 percent posted in November 2019
or lifestyle creep. It gives your finances purpose and your relationship something to look forward to.
4. Don’t be afraid to ask for help. You’re not expected to know everything. If you’re stuck or confused, talk to someone. A financial planner, a trusted friend, or even a good podcast or webinar can give you new insights.
Sometimes all you need is a neutral third party to help you both see things clearly.
5. Celebrate the small wins. Maybe you finally finished paying off your credit card. Or hit your savings goal for the month. Or survived a month without arguing over money. Celebrate that! Money isn’t just about numbers, it’s about progress. And when you start acknowledging your wins, it becomes easier to keep going.
6. Set the family priorities. In every family season, priorities may chance upon you. For example if you are having your first born child, majority of the expenses will be allocated in child care related budget. When we experienced having our kids, our budget for leisure activities lessened and we allocated it to vaccination, milk and other stuff that the kids will be needing. Knowing your priorities as a couple will allow both of you to be aligned that even though you can’t do all of your goals at once, time will come that you will be able to do it. Focus on one season at a time.
There’s no perfect way to manage money as a couple, but there is a right mindset: you’re on the same team. Whether you’re earning big or just starting out, what matters is that you support each other, stay honest, and keep learning. Because in the end, it’s not about who’s better with money: it’s about how you use it to build a life you both love.
Karlo Biglang-awa is a Registered Financial Planner of RFP Philippines. His views herewith do not necessarily reflect those of the BusinessMirror’s To learn more about personal financial planning, attend the 112th RFP program this July 2025. Email info@rfp.ph or visit rfp.ph to learn more about the program.
Ricafort said the lower inflation could support a possible 25-basis point reduction in the key policy rates as early as the next rate-setting meeting of the Monetary Board on June 19.
The Bangko Sentral ng Pilipinas (BSP) said a “more manageable” inflation outlook and downside risks to economic activity support a shift to a “more accommodative monetary pol-
icy,” as inflation risks remain broadly balanced through 2025 to 2027.
“Looking ahead, the BSP will continue to take a measured approach in deciding on further monetary easing. The BSP will remain data-dependent when it reassesses its monetary policy stance during the June 2025 monetary policy meeting,” it said. This month, the government will raise a total of P100 billion through the sale of 91-, 82- and 364-day Tbills every Monday.
The government has borrowed P1.135 trillion in the first four months of the year, accounting for 44.59 percent of the P2.545-trillion borrowing program for the year. An 80:20 borrowing mix will be followed to minimize its exposure to foreign exchange risks. About P2.037 trillion will be raised domestically while P507.408 billion will come from external sources.
The national government’s outstanding debt reached a new record level of P16.683 trillion as of end-March 2025, 11.78 percent higher year-on-year from P14.925 trillion.
RCBC plans to raise ₧3B from sale of green
TBy Cai U. Ordinario @caiordinario
HE Rizal Commercial Banking Corp. (RCBC) is again tapping the domestic debt market with a planned offer of P3 billion in fixed rate peso-denominated sustainability bonds.
RCBC said this will be the eighth drawdown from its P200-billion Bond and Commercial Paper Program.
The P3-billion bond offer, which has an option to upsize, will have a tenor of two years and six months or 2.5 years from the date of issuance.
“The funds to be raised from the offer will be used to finance or refinance, in whole or in part, the eligible green and social categories as described in the bank’s Sustainable Finance Framework,” RCBC said in a statement.
“The bank continues to raise funding to be allocated for sustain-
ability assets reinforcing its commitment to a greener and more sustainable future,” it added.
The public offer period is slated to commence on June 25 and will run until July 9, subject to final management determination, market, and other conditions. The bonds are expected to be issued and listed on the Philippine Dealing and Exchange Corp on July 17.
Standard Chartered Bank (SCB) and RCBC Capital Corp. are the joint lead arrangers and bookrunners for this transaction. The selling agents will be SCB and RCBC.
“The Joint Lead Arrangers and Bookrunners and the Selling Agents reserve the right to update the Offer terms, periods and dates prescribed above, as deemed appropriate and with due notice,” RCBC said.
The bonds are intended to be issued as sustainability bonds under the Asean Sustainability Bond Standards subject to confirmation
Atome secures financing facility from Lending Ark
OUTHEAST Asian fintech
Sprovider Atome obtained a $75-million asset-backed financing facility from Lending Ark, to address the growing demand for buy now, pay later (BNPL) services in the Philippines.
Atome said it acquired a financing facility from Lending Ark Asia Secured Private Debt Fund advised by CITIC Securities CLSA Capital Partners (HK) Ltd.
The company said the strategic partnership seeks to advance its goal of improving access to credit products.
“The Philippines is a key growth market for Atome. This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale,” Atome Chief Commercial Officer Andy Tan said in a statement.
Aside from BNPL, Atome also offers insurance, savings, cards and lending services.
“Atome has cemented its position as a leading fintech player in Southeast Asia thanks to its unique strengths in credit risk management, responsible lending, and consumer empowerment,” said Carol Lee Park, managing director of Lending Ark.
Lending Ark has invested $1 billion across Asia and has pioneered innovative asset-backed investments across the Philippines, Hong Kong, South Korea, Australia/New Zealand, Indonesia and Vietnam.
“Lending Ark also supports our business in Indonesia and this latest expansion underscores the strength of our long-standing partnership. We’re grateful for their trust as we deepen our reach and empower more Filipinos with the tools to manage their finances responsibly,” Tan said.
Atome is owned by Singaporeheadquartered Advance Intelligence Group, which is backed by investors SoftBank Vision Fund 2, Warburg Pincus, Northstar and Singapore-based global investor EDBI.
Atome is also supported by institutional funding partners, such as Standard Chartered, HSBC, Bank Jago, DBS Bank, SMBC, BlackRock, Evolution X Capital, and InnoVen Capital, among others.
In 2024, Atome Financial, the “wallet platform” of Advance Intelligence Group and operator of Atome and Kredit Pintar, saw its revenue increase by 45 percent year-on-year to $280 million.
Its gross merchandise value also grew 35 percent year-on-year to $2.5 billion.
Atome Financial also attributed its full-year profitability to optimized product portfolio profitability and improved operational efficiency through the use of generative artificial intelligence in customer service, collections and product sales. Reine Juvierre S. Alberto
from the Securities and Exchange Commission.
The bank said it has applied with the SEC for an Asean label to the sustainability bonds. While it expects to receive such confirmation, there is no assurance that such confirmation will be obtained.
Last February, the bank reported that its net income last year fell 22 percent to P9.5 billion from the P12.21 billion recorded in 2023, which include one-off items.
The company said it had a growth of 13 percent, stripping off the nonrecurring gains in 2023, as core busi-
bonds
ness maintained momentum. The company said its net interest income and consumer loans expanded by 26 percent and 40 percent, respectively. The bank’s total resources reached P1.4 trillion by end-2024. The bank’s net interest income reached P42.5 billion, fueled by a 14-percent increase in loan volumes and better yields, as consumer loans contributed 40 percent to the P709.7 billion loan portfolio. RCBC’s total loan portfolio rose by 17 percent, outpacing the industry’s average loan growth of 11.1 percent as of November 2024. Credit card receivables jumped by 48 percent in 2024, as cards in force increased by 21 percent and billings surged by 41 percent. Secured consumer loans, such as mortgage and auto, went up by 30 percent last year. Total deposits stood at P1.02 trillion with current account-savings account-to-total deposits ratio at 52.6 percent.
Asialink opens 250th branch in Bukidnon
AFTER experiencing a watershed moment in 2024, Asialink Finance Corp. said it recently achieved another significant milestone with the opening of its 250th branch in Maramag, Bukidnon.
Samuel Cariño, president and CEO of Asialink Finance Corp., noted the achievement follows a year of solid performance. In 2024, Asialink recorded a 4-percent or P40.6-million increase in net income, to P1.1 billion. The expansion forms part of its push to serve more micro, small, and medium enterprises (MSMEs) and individuals in underserved areas across Luzon, Visayas, and Mindanao.
“This milestone is more than just a number. Each branch represents our commitment to building financial access where it matters most,” said Cariño.
“Asialink’s growth is rooted in our purpose. With every new location, we aim to deliver stronger services, more relevant products, and genuine support to the communities we serve.”
He said the company’s network grew rapidly in 2024, adding 134 new branches to end the year with 238. Asialink’s continued growth in 2025 is strengthened by investor confidence, backed by the support of strategic partners such as the Asian Development Bank (ADB) and private equity firm Creador. ADB and Creador increased their commitments last year, further sig-
naling belief in Asialink’s long-term vision of inclusive and sustainable financing.
Aside from physical expansion, Asialink broadened its product portfolio by launching new loan offerings to better address evolving client needs. Its real estate loan portfolio now includes Real Estate Mortgage (Sangla Titulo), housing unit takeout loans, and property acquisition loans, with borrowing amounts of up to P20 million and flexible payment terms.
Cariño said these products are designed to help Filipinos fund largescale financial goals, whether for home ownership, business expansion, or long-term investment.
He said the company’s growth has also generated “meaningful employment.” Asialink grew its workforce by 58 percent to 2,073 by end-2024 from 1,311 in 2023. This increase supports both operational capacity and Asialink’s mission to provide economic opportunities nationwide. The company said new jobs were created across all levels—from loan officers and credit investigators to collectors and branch managers— contributing to local livelihood and professional development.
“Asialink is more than a financing company. We are a partner in progress for every Filipino who aspires to grow,” Cariño said. “Each branch we open and each job we create brings us closer to a future where every Filipino has a fair chance to pursue their dreams.” Rizal Raoul Reyes
BusinessMirror file photo
PERSONAL FINANCE
Karlo Biglang-Awa
‘We want children not only to read books but to love books as well’
Canvas marks 20th anniv with year-long exhibit at National Museum
“I am magic, I hold the key
To all the things you’re yet to be.
To all the paths you’re yet to find To all the dreams within your mind”
GIGO ALAMPAY’S Ode to a Young Reader begins, and ends, with a succinct yet enchanting description of the transformative power of literature, creatively narrated from the perspective of a book addressing a child. Copies of the two-version palindrome poem flank the entrances of the newly opened anniversary exhibition of Canvas at the National Museum of Fine Arts, celebrating two decades of art and stories for the non-profit organization.
Alampay founded Canvas, or the Center for Art, New Ventures and Sustainable Development (Canvas) in 2005. The group collaborates with the creative community to promote children’s literacy, explore national identity, and foster a deeper public appreciation for Philippine art, culture, and the environment.
The story of Canvas began from Alampay’s intention to publish a local adaptation of The Man Who Planted Trees by French writer Jean Giono. Coincidentally, the book’s profound affirmation of an individual’s power to change the world has so perfectly resonated with Canvas’s aspirations, serving as the perfect catalyst for the organization to press onward with its vital work.
“We cling to the hope and possibility that somewhere down the line, one of the books that we publish, one of the artworks that we show, or one of the ideas that we share, will trigger the imagination of one child who will then be moved to change the world for the better,” Alampay said.
Canvas published the adaptation, titled Elias and His Trees, on June 13, 2005. The success of that first book, as Alampay puts it, “led us to other books, which later led to more books, new programs, and to even bigger dreams.”
To date, Canvas’ publication tally stands over 50 books, covering different themes and topics, from children’s rights and the environment, to democracy, friendship, family, and grief. Notable titles include the award-winning Hanapin Ang Sagot: Ano Ang Batas Militar?, Karapat Dapat, and I Like Wearing Rainbows Meanwhile, Nadia and the Blue Stars and Silim, Prinsesa ng Dilim, have been adapted into stage plays and musicals.
Canvas has also worked with prominent figures in Philippine literature to author and translate books, from the likes of Vim Nadera to Cyan Abad-Jugo and Butch Dalisay. An impressive roster of renowned visual artists has lent their talents in support of the organization’s cause as well. The list includes National Artist BenCab, along with Daniel dela Cruz, Renato Barja, Jonathan Madeja, Mark Justiniani, Joy Mallari, Leeroy New, Elmer Borlongan, Lito Mondejar, Renz Baluyot, Liza Flores, and Ang Ilustrador ng Kabataan (Ang INK), to name a few.
The creations of these visual artists have brought Canvas’ books to life with their signature styles, inspired uniquely designed gift items, and shaped some of the most educational and insightful art events. Likewise, their artworks are showcased in the Canvas’s new exhibition at the National Museum.
The exhibit, titled Canvas: 20 Years of Art and Stories, aims to paint a collective portrait of the values, stories and creative energies that have shaped Canvas over the past 20 years. The show opens on June 14 and will run for a year on the fourth floor of the National Museum of Fine Arts, Galleries 25 and 26.
“I selected most of the artworks in the exhibition and worked with our curator, Jaime Pacena II, to help translate my vision into a cohesive and meaningful experience for a public audience,” Alampay said. For Pacena, that means understanding their target audience’s interests and tendencies. “Mayroong touch of informality [‘yung exhibit] because we would like the kids to really roam around.”
The curator added, “Ang goal namin is to make it more like a playground for the imagination, for our minds and our spirits.”
Canvas: 20 Years of Art and Stories includes several interactive elements designed to engage young visitors, including archways that children can go through, inviting them to explore at their own pace. The exhibit is divided into themes representing the various advocacies close to the non-profit.
“I Am the Change in Climate Change,” for instance, raises environmental awareness for the little ones. Installed on one wall of the space is a spinning roulette of activities and ideas for visitors, especially kids, to educate them about sustainable and eco-friendly daily habits. Another side presents
equips children with the basics of safe internet use; “Karapat Dapat,” which promotes children’s rights; and “Art for Development,” which covers topics such as women, diaspora and faith. At the heart of the exhibition hall is “Read. Imagine. Create.” where visitors can read, play and rest. In the pipeline are workshops and activities that give kids the opportunity to put their ideas into action, from producing their own art to writing, exploring and other creative expressions. The complete schedule and registration details will be posted on Canvas’ website (www.canvas.ph) and @canvas.ph on Facebook and @canvasph.art on Instagram.
Aside from celebrating a milestone, Canvas: 20 Years of Art and Stories also provides a glimpse of into the organization’s soon-to-open Tumba-Tumba Children’s Museum of Philippine Art in Ibaan, Batangas. The space will serve as the permanent home for the artworks featured in the National Museum exhibit. Situated on a 15,000-sqm space, TumbaTumba is currently open only for special events or by appointment. There are five current installations in place at the Museum, including Elmer Borlongan and Lito Mondejar’s Tree Huggers and Leeroy New’s first permanent structure, I Am the Explorer, a spaceship that will house Tumba-Tumba’s permanent collection. According to Alampay, turning this dream project into reality requires significant resources,
LIBRA (Sept. 23-Oct. 22): You’ll have plenty to discuss once you let down your guard and feel comfortable with someone of interest. Social and networking events will allow you to meet interesting people and show off what you can offer. An opportunity to learn, travel or connect romantically looks promising. ★★★★
SCORPIO (Oct. 23-Nov. 21): Know your limits and your opponents. Think outside the box, and you’ll devise a surefire way to outmaneuver someone trying to take advantage of you. Trust your instincts, refuse to let anger surface and set your radar on your goal instead of wasting time on nonsense. ★★★★
SAGITTARIUS (Nov. 22-Dec. 21): Take a long, hard look at what’s important to you and how to preserve what matters most, and let go of the past. It’s time to turn the page and create and embrace opportunities that excite you. Attending a reunion will help you redefine your role and purpose. ★★
CAPRICORN (Dec. 22-Jan. 19): Emotions and money won’t mix. You can’t buy love and shouldn’t waste your time trying to please someone who doesn’t reciprocate. Change begins with looking at the facts, adjusting your mindset and returning to the pastimes that make you feel good about yourself. ★★★★★
AQUARIUS (Jan. 20-Feb. 18): Home improvements will make your life easier. Open your doors to friends and family, and you’ll gain access to valuable information and an opportunity to get to know someone better. Love, romance and personal gain are in the stars and will encourage you to participate in something new and exciting. ★★★
PISCES (Feb. 19-March 20): Showing respect may win you favors, but truth and honesty will buy you dignity and support from those who count. Know when to avoid temptation, put ego aside and turn a negative into a positive. Don’t let uncertainty weigh heavy on your mind; take the high road.
BIRTHDAY BABY: You are quick-witted, entertaining and appealing. You are helpful and sensitive.
CANVAS founder and executive director Gigo Alampay
Show BusinessMirror
SHANGRI-LA PLAZA JOINS
‘FÊTE DE LA MUSIQUE
2025’
FÊTE de la Musique, one of the most anticipated live music events in the country, is back for another year of celebrating all kinds of tunes. This time, Shangri-La Plaza is joining the revelries and supporting the Fête community for the first time ever as it mounts The Ember Stage, promising performances that flicker with warmth, intimacy, and artistic fire with acoustic, jazz, chillout, and ambient music. Don’t miss this one-of-akind experience all for free and see the Grand Atrium transform into an urban oasis on June 13 from 5 pm to 10 pm.
Made possible through Shang’s strong partnership with the Alliance Française de Manille, Fête de la Musique’s The Ember Stage is co-presented by the Embassy of France to the Philippines, Funkybeat Entertainment, and Anam Kara. Throughout its 31-year presence in the Philippines, Fête de la Musique has built a community that celebrates raw, real artistry, bringing talented acts and avid music enthusiasts together.
Leading the lineup of young and fresh music for the Fête stage at the Shang is Over October, one of the most prominent pop/alternative rock bands today. They were formed in 2014 and had been gaining fans over a decade, but they reached massive success in 2024 with their explosive hit “Ikot” which amassed over 115 million plays on Spotify.
There’s Filipino-Nepalese R&B singer-songwriter Jason Dhakal. With over 564,000 monthly listeners on Spotify, he made his mark in the industry with his soulful, jazz-infused, and groovy renditions of OPM classics such as VST & Company’s “Awitin Mo at Isasayaw Ko,” Sitti’s “Para sa Akin,” and Smokey Mountain’s “Kailan”.
Jikamarie joins the pack with her own brand of R&B-dream pop. Also featured is singer-songwriter and The Voice Kids alum Shanne Dandan, who dedicated to blending contemporary music with that “Manila” sound.
Known for creating upbeat music and youthful melodies, Any Name’s Okay is a beloved alternative pop group. Mixing city pop and OPM, ALYSON is a five-piece band that deftly combines fresh tunes and nostalgic vibes in their performances.
Rounding out Shang’s Fête stage is multiawarded DJ, producer, and entrepreneur HOEST who’s expected to share a blend of house, techno and electronic music to energize the crowd.
Join the music crowd on a Friday night. Head over to The Ember Stage at Shangri-La Plaza’s Grand Atrium on June 13. More information is available at www.facebook.com/shangrilaplazaofficial.
SB19 reigns supreme
THE recently concluded two-night, sold-out concert of the phenomenal all-male group SB 19 is an affirmation that it’s the brightest star there is in the Philippine music scene, one that continues to illuminate the biggest concert halls and fills out the performance arenas as the group continues to push boundaries and reach for greater heights.
The record-breaking concert at the Philippine Arena in Bulacan officially kicked off the group’s Simula at Wakas World Tour that will bring them to various North American and US territories in July and August, including San Francisco, Los Angeles, Toronto, Calgary, Vancouver, Temecula, and Honolulu. And the coming concerts in the Middle East and Asia will make 2025 the most exciting year for
SB19. Stell, Josh, Pablo, Justin and Ken were at their best as they dished out song after song, and the audience went wild right away hearing the opening notes from “Dam,” which is part of their most recent album launched three months ago.
Aside from hard work, discipline, world-class standard performances, strategic planning and detailed preparations, an attitude of gratitude has always been part of the reason why SB19 is experiencing success after success after success.
The group is lucky to have a very loyal and consistently growing fan base, led by the amazing members of a group known as A’TIN.
Right after their final night at the arena, this message was posted on their socmed accounts and it paid tribute to their loyal fandom.
“We would not be here without you A’TIN. From just a small crowd to seeing a whole ocean in front of us, no stage is ever too small, no dream is ever too big, as long as you’re with us.”
Maraming salamat sa patuloy na pagsabay sa aming mga pangarap!”
On the afternoon of the Philippine Arena show, a plane hovered by the concert grounds carrying a banner that read: “The World is Yours, SB 19.” Indeed, the world is set to become the biggest stage of this group from the Philippines called SB19.
INTRODUCING CLOUD 7
WILL the new P-pop boy group Cloud 7 get a taste of Cloud 9 like the phenomenal SB19? Perhaps it’s too early to tell. Just relaunched recently by Sparkle GMA Artist Center as the youngest Pinoy pop boy group in the country, the members of Cloud 7 were chosen from a long, careful, and arduous selection process, then immediately went into training.
Egypt See, Fian Guevarra, Migz Diokno, PJ Yago, Lukas Garcia, Kairo Lazarte, and Johann Nepomuceno are all excited to see where this will take them, and plans are in the offing for more original songs that will aim to put them on centerstage in the already crowded Philippine pop music scene.
In fact, their newest single titled “Bara, Bara” is expected to make a dent very soon, to prove that the group is on the right path. Not many are aware that Cloud 7 has been in the music business for two years now, and has since released four singles: “Louder,” “Silipin ang Mundo,” “Tara Na,” and “Tayo Na.”
Aside from singing, the members continue to receive training in movement, personality development, stage presence and even acting. Truth is, these young men will be featured in an upcoming digital series billed as Up, Up and Away, set for release this month on Sparkle’s social media platforms. So watch out for this new group and remember the name: Cloud 7. n
‘LILO & STITCH’ CRUISES TO NO. 1 AGAIN; JOHN WICK SPINOFF ‘BALLERINA’ DANCES TO 2ND PLACE
and Canvas has been doubling its efforts to raise additional support and keep doors open to new collaborations and sponsorships. Financial donations can be completed through www.canvas.ph or through GlobalGiving (tinyurl.com/47m5pfw9).
As progress continues on the museum, other Canvas initiatives remain active. One is the Romeo Forbes Children’s Literacy Program, named after the artist of Canvas’s first book, Romeo Forbes, who died of cancer at the age of 24. The program involves a story-writing competition and book-giving initiatives. Canvas hopes to give away one million books to children in poor and disadvantaged communities nationwide. Last 2024, the organization passed the halfway mark. The books are also available for free download from the Canvas website.
Canvas also has a public art program, “Art for Development,” which facilitates discussions on national issues, culture, the environment, and more. The program invites Filipino artists to respond to chosen themes through paintings and sculptures that are then displayed as art banners in pedestrianfriendly areas, such as the Academic Oval in University of the Philippines Diliman.
From publishing that one book 20 years ago, Alampay reflected on how Canvas’ mission has both evolved and stayed the same. He said, “We want children not only to read books, but to love books as well.”
It’s a beautiful anecdote that is likewise delivered in his palindrome poem, “Ode to a Young Reader,” serving as either the beginning or conclusion of his poem, depending on the version.
“Take any book.
IN the box office showdown between a deadly assassin and a chaotic CG alien, the edge. The Disney juggernaut celebrated a third weekend at the top of the charts, while the John Wick spinoff Ballerina did not jeté as high as expected.
According to studio estimates on Sunday, World of John Wick: Ballerina earned $25 million from 3,409 theaters in the US and Canada. Several weeks ago it was tracking to open in the $35 to $40 million range, but that was adjusted down several times. Ultimately, it still came in lower than forecasts. The movie, directed by Len Wiseman, makes a sideline character out of Keanu Reeves’ John Wick and focuses on Ana de Armas. It takes place during the events of John Wick 3.
The box office performance is a bit perplexing result considering that Ballerina got good critic reviews and audience exit polls. Conventional wisdom would say that word of mouth might have given it a boost over the weekend. But, recently, opening weekend isn’t the end all that it used to be. Ballerina could be in the game for the long haul.
“Even though its part of the John Wick franchise, it’s playing like a true original. And that’s not a bad thing,” said Paul Dergarabedian, the senior media analyst for Comscore. “This was not a movie that was ever going to open like a Mission: Impossible or another
huge franchise.” Ballerina had a hefty production price tag reported to be in the $90 million range. But much of that cost has already been offset by foreign pre-sales. Internationally, it earned $26 million from 82 countries, bringing its global opening to $51 million. As the first spinoff, it’s the second lowest opening of the five-film franchise—above only the first film which opened just over $14 million in 2014, which does not account for inflation. The franchise overall has grossed more than $1 billion worldwide. Dergarabedian added that the R-rated Ballerina could also be positioned for a strong second weekend, when it goes up against family-targeted How to Train Your Dragon First place once again went to Lilo
FROM the World of John Wick: Ballerina, starring Ana de Armas, finished in second place on its opening weekend at the North American box office.
ALYSON
Puregold wins at prestigious Retail Asia Awards 2025
Puregold Price Club Inc., a longtime industry leader in Philippine retail, ushered in the month of June with two prestigious wins at the recent 2025 Retail Asia Awards: Hypermarket of the Year (Philippines) and Integrated Campaign of the Year (Philippines).
The Retail Asia Awards, which was launched in 2021, is a distinguished annual event that honors outstanding achievements, innovations, and excellence among key players in the region’s retail industry. Representatives of Puregold stood tall as they accepted the awards at last night’s ceremony held at the Marina Bay Sands Expo & Convention Centre in Singapore.
The twin recognition marks the
culmination of a massive year of growth for Puregold Price Club Inc, which touted a record-breaking P10 billion plus in profits by 2024’s end. To date, the retail chain has over 700 stores nationwide, including S&R Clubs and quick service restaurants.
Puregold president Vincent Co extends his deep appreciation to the Retail Asia Awards for the esteemed Hypermarket of the Year (Philippines) recognition. “The award is an acknowledgement of the clearheaded vision and drive that brought Puregold to its most successful year in the face of shifting and challenging market conditions,” he affirms.
On the other hand, the Integrated Campaign of the Year award comes off the back of Puregold’s successful “Nasa Atin ang Panalo” campaign. “Nasa Atin ang Panalo” was a concerted effort to appeal to a passionate, younger market by collaborating with major OPM
artists including BINI, Flow G, SB19, and SunKissed Lola. The campaign culminated in a sold-out Nasa Atin ang Panalo thanksgiving concert held in Araneta Coliseum.
“These awards from Retail Asia spur us to carry on with the good work we’ve been doing,” Co says. “We hope to further enrich the shopping experience of our loyal members and customers who share in our triumphs.”
For 2025, Puregold is on track for further expansion. New locations are opening up all over the country, and business is showing robust growth. In the first quarter of the year alone, the company listed a profit of over P2.64 billion, up 6.5 percent from the previous year. Meanwhile, Puregold’s synergetic ties with local music are going strong, as well. OPM Con 2025, featuring an expanded lineup of talents, is slated at the Philippine Arena on July 5.
Executive Vice President, SM Store-Store Business Unit; Aldwin B. Co, , Executive Vice President, SM Store-Merchandising Business Units; and Hans Chico Sy, Jr., President, SM Engineering Design and Development.
Ate Rose and
how smoking accelerates it
AS part of the healthcare institution’s ongoing efforts to prevent cardiovascular diseases, Asian Hospital and Medical Center, in partnership with the Department of Health, has launched a public health campaign against atherosclerosis, smoking, and vaping—leading contributors to heart attacks, strokes, and other life-threatening diseases.
“Smoking and vaping not only harm your lung health—they rapidly accelerate the development of atherosclerosis, quietly destroying your blood vessels and putting your heart and brain at risk. So, we must begin prevention now,” said Dr. Beaver R. Tamesis, Asian Hospital’s President and CEO.
Ate Rose®, a coined nickname created by Asian Hospital for Atherosclerosis, is a silent troublemaker that develops gradually over time, clogging the arteries and reducing blood flow to different organs of the body. Among the most significant risk factors are smoking and vaping, which speed up blood vessel damage and increases the risk of complications. Smoking and vaping damage the cells that line the blood vessels, increase plaque buildup, and contribute to the thickening and narrowing of blood vessels. The campaign encourages the public to adopt a healthy
lifestyle and aims to spread awareness about how smoking and vaping contributes to the onset and progression of atherosclerosis.
At the start of the year, Asian Hospital and Medical Center introduced a proactive advocacy focused on the prevention of Atherosclerosis (also known as Ate Rose®). This initiative included the rollout of targeted communication materials and the creation of the Ate Rose® Card—a special package designed for Atherosclerosis screening.
This collaboration between Asian Hospital and Medical Center and the Department of Health portrays a shared commitment to reducing the incidence of Atherosclerosis and significantly lowering smoking use. The campaign is also supported by key partners in the medical community, including the Lung Center of the Philippines, Philippine Heart Center, Philippine General Hospital, and the Philippine College of Chest Physicians.
For more information or inquiries, contact the Asian Hospital and Medical Center hotline at (02) 8-771-9000 local 5913 or email infohub@asianhospital.com. Stay updated on the latest health information through their social media pages at / AsianHospitalPH.
Alfonsi Daquigan racing towards glory
WITH engines roaring and hearts pounding, a new chapter in Philippine motorsports history unfolds as Rider No.
Good Life: Everyday Asian Cooking Made Easy, Flavorful
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In the photo are, from left, Puregold senior marketing manager Ivy Hayagan-Piedad, Sonny Bautista, Lyle Gonzales and Jeng Galang from Republic Creative Creations, Inc., and Siddharth Pathak, Senior Partner & APAC Leader for Consumer and Retail Practice at Kearney at the
Dr. Beaver Tamesis, Asian Hospital and Medical Center’s President and CEO, manifests his support for the public health campaign against atherosclerosis, smoking and vaping.
Nominee for surgeon general has profit motive behind health recommendations
By Michelle R. Smith & Ali Swenson The Associated Press
PROVIDENCE,
R.I.—President
Donald Trump’s pick to be the next US surgeon general has repeatedly said the nation’s medical, health and food systems are corrupted by special interests and people out to make a profit at the expense of Americans’ health.
Yet as Dr. Casey Means has criticized scientists, medical schools and regulators for taking money from the food and pharmaceutical industries, she has promoted dozens of health and wellness products— including specialty basil seed supplements, a blood testing service and a prepared meal delivery service—in ways that put money in her own pocket.
A review by The Associated Press found Means, who has carved out a niche in the wellness industry, set up deals with an array of businesses.
In her newsletter, on her social media accounts, on her website, in her book and during podcast appearances, the entrepreneur and influencer has at times failed to disclose that she could profit or benefit in other ways from sales of products she recommends. In some cases, she promoted companies in which she was an investor or adviser without consistently disclosing the connection, the AP found.
Means, 37, has said she recommends products that she has personally vetted and uses herself. She is far from the only online creator who doesn’t always follow federal transparency rules that require influencers to disclose when they have a “material connection” to a product they promote.
Still, legal and ethics experts said those business entanglements raise concerns about conflicting interests for an aspiring surgeon general, a role responsible for giving Americans the best scientific information on how to improve their health.
“I fear that she will be cultivating her next employers and her next sponsors or business partners while in office,” said Jeff Hauser, executive director of the Revolving Door Project, a progressive ethics watchdog monitoring executive branch appointees.
The nomination, which comes amid a whirlwind of Trump administration actions to dismantle the government’s public integrity guardrails, also has raised questions about whether Levels, a company Means co-founded that sells subscriptions for devices that continuously monitor users’ glucose levels, could benefit from this administration’s health guidance and policy.
Though scientists debate whether continuous glucose monitors are beneficial for people without diabetes, US Health Secretary Robert F. Kennedy Jr. has promoted their use as a precursor to making certain weight-loss drugs
available to patients.
The aspiring presidential appointee has built her own brand in part by criticizing doctors, scientists and government officials for being “bought off” or “corrupt” because of ties to industry. Means’ use of affiliate marketing and other methods of making money from her recommendations for supplements, medical tests and other health and dietary products raise questions about the extent to which she is influenced by a different set of special interests: those of the wellness industry.
A compelling origin story
MEANS earned her medical degree from Stanford University, but she dropped out of her residency program in Oregon in 2018, and her license to practice is inactive. She has grown her public profile in part with a compelling origin story that seeks to explain why she left her residency and conventional medicine.
“During my training as a surgeon, I saw how broken and exploitative the healthcare system is and left to focus on how to keep people out of the operating room,” she wrote on her website.
Means turned to alternative approaches to address what she has described as widespread metabolic dysfunction driven
largely by poor nutrition and an overabundance of ultraprocessed foods. She cofounded Levels, a nutrition, sleep and exercise-tracking app that can also give users insights from blood tests and continuous glucose monitors. The company charges $199 per year for an app subscription and an additional $184 per month for glucose monitors.
Means has argued that the medical system is incentivized not to look at the root causes of illness but instead to maintain profits by keeping patients sick and coming back for more prescription drugs and procedures.
“At the highest level of our medical institutions, there are conflicts of interest and corruption that are actually making the science that we’re getting not as accurate and not as clean as we’d want it,” she said on Megyn Kelly’s podcast last year.
But even as Means decries the influence of money on science and medicine, she has made her own deals with business interests.
During the same Megyn Kelly podcast, Means mentioned a frozen prepared food brand, Daily Harvest. She promoted that brand in a book she published last year. What she didn’t mention in either instance: Means had a business relationship with Daily Harvest.
Growing an audience, and selling products INFLUENCER marketing has expanded beyond the beauty, fashion and travel sectors to “encompass more and more of our lives,” said Emily Hund, author of “The Influencer Industry: The Quest for Authenticity on Social Media.”
With more than 825,000 followers on Instagram and a newsletter that she has said reached 200,000 subscribers, Means has a direct line into the social media feeds and inboxes of an audience interested in health, nutrition and wellness.
Affiliate marketing, brand
Influencers who endorse or promote products in exchange for payment or something else of value are required by the Federal Trade Commission to make a clear and conspicuous disclosure of any business, family or personal relationship. While Means did provide disclosures about newsletter sponsors, the AP found in other cases Means did not always tell her audience when she had a connection to the companies she promoted. For example, a “Clean Personal & Home Care Product Recommendations” guide she links to from her website contains two dozen affiliate or partner links and no disclosure that she could profit from any sales.
partnerships and similar business arrangements are growing more popular as social media becomes increasingly lucrative for influencers, especially among younger generations. Companies might provide a payment, free or discounted products or other benefits to the influencer in exchange for a post or a mention. But most consumers still don’t realize that a personality recommending a product might make money if people click through and buy, said University of Minnesota professor Christopher Terry. “A lot of people watch those influencers, and they take what those influencers say as gospel,” said Terry, who teaches media advertising and internet law. Even his own students don’t understand that influencers might stand to benefit from sales of the products they endorse, he added.
Many companies, including Amazon, have affiliate marketing programs in which people with substantial social media followings can sign up to receive a percentage of sales or some other benefit when someone clicks through and buys a product using a special individualized link or code shared by the influencer.
Means has used such links to promote various products sold on Amazon. Among them are books, including the one she co-wrote, “Good Energy”; a walking pad; soap; body oil; hair products; cardamom-flavored dental floss; organic jojoba oil; a razor set; reusable kitchen products; sunglasses; a sleep mask; a silk pillowcase; fitness and sleep trackers; protein powder and supplements.
She also has shared links to products sold by other companies that included “affiliate” or “partner” coding, indicating she has a business relationship with the companies. The products include an AIpowered sleep system and Daily Harvest, for which she curated a “metabolic health collection.”
On a “My Faves” page that was taken down from her website shortly after Trump picked her, Means wrote that some links “are affiliate links and I make a small percentage if you buy something after clicking them.”
It’s not clear how much money Means has earned from her affiliate marketing, partnerships and other agreements. Daily Harvest did not return messages seeking comment, and Means said she could not comment on the record during the confirmation process. Disclosing conflicts MEANS has raised concerns
that scientists, regulators and doctors are swayed by the influence of industry, oftentimes pointing to public disclosures of their connections. In January, she told the Kristin Cavallari podcast “Let’s Be Honest” that “relationships are influential.”
“There’s huge money, huge money going to fund scientists from industry,” Means said. “We know that when industry funds papers, it does skew outcomes.”
In November, on a podcast run by a beauty products brand, Primally Pure, she said it was “insanity” to have people connected to the processed food industry involved in writing food guidelines, adding, “We need unbiased people writing our guidelines that aren’t getting their mortgage paid by a food company.”
On the same podcast, she acknowledged supplement companies sponsor her newsletter, adding, “I do understand how it’s messy.”
Influencers who endorse or promote products in exchange for payment or something else of value are required by the Federal Trade Commission to make a clear and conspicuous disclosure of any business, family or personal relationship. While Means did provide disclosures about newsletter sponsors, the AP found in other cases Means did not always tell her audience when she had a connection to the companies she promoted. For example, a “Clean Personal & Home Care Product
Recommendations” guide she links to from her website contains two dozen affiliate or partner links and no disclosure that she could profit from any sales.
Means has said she invested in Function Health, which provides subscription-based lab testing for $500 annually. Of the more than a dozen online posts the AP found in which Means mentioned Function Health, more than half did not disclose she had any affiliation with the company. Means also listed the supplement company Zen Basil as a company for which she was an “Investor and/or Advisor.” The AP found posts on Instagram, X and on Facebook where Means promoted its products without disclosing the relationship.
Though the “About” page on her website discloses an affiliation with both companies, that’s not enough, experts said. She is required to disclose any material connection she has to a company anytime she promotes it.
Representatives for Function Health did not return messages seeking comment through their website and executives’ LinkedIn profiles. Zen Basil’s founder, Shakira Niazi, did not answer questions about Means’ business relationship with the
company or her disclosures of it. She said the two had known each other for about four years and called Means’ advice “transformational,” saying her teachings reversed Niazi’s prediabetes and other ailments.
“I am proud to sponsor her newsletter through my company,” Niazi said in an e-mail.
While the disclosure requirements are rarely enforced by the FTC, Means should have been informing her readers of any connections regardless of whether she was violating any laws, said Olivier Sylvain, a Fordham Law School professor who was previously a senior adviser to the FTC chair.
“What you want in a surgeon general, presumably, is someone who you trust to talk about tobacco, about social media, about caffeinated alcoholic beverages, things that present problems in public health,” Sylvain said, adding, “Should there be any doubt about claims you make about products?”
Potential conflicts pose new ethical questions MEANS isn’t the first surgeon general nominee whose financial entanglements have raised eyebrows.
Jerome Adams, who served as surgeon general from 2017 to 2021, filed federal disclosure forms that showed he invested in several health technology, insurance and pharmaceutical companies before taking the job—among them Pfizer, Mylan and UnitedHealth Group. He also invested in the food and drink giant Nestle. He divested those stocks when he was confirmed for the role and pledged that he and his immediate family would not acquire financial interest in certain industries regulated by the Food and Drug Administration.
Vivek Murthy, who served as surgeon general twice, under Presidents Barack Obama and Joe Biden, made more than $2 million in Covid-19-related speaking and consulting fees from Carnival, Netflix, Estee Lauder and Airbnb between holding those positions. He pledged to recuse himself from matters involving those parties for a period of time.
Means has not yet gone through a Senate confirmation hearing and has not yet announced the ethical commitments she will make for the role.
Hund said that as influencer marketing becomes more common, it is raising more ethical questions, such as what past influencers who enter government should do to avoid the appearance of a conflict.
Other administration officials, including Homeland Security Secretary Kristi Noem and Centers for Medicare and Medicaid Services Administrator Dr. Mehmet Oz, have also promoted companies on social media without disclosing their financial ties.
“This is like a learning moment in the evolution of our democracy,” Hund said. “Is this a runaway train that we just have to get on and ride, or is this something that we want to go differently?”
Swenson reported from New York.
DR . Casey Means, a wellness influencer, left, and journalist Megyn Kelly, attend a confirmation hearing for Robert F. Kennedy Jr. for the Secretary of Health and Human Services post, at the Capitol in Washington, January 29, 2025. AP/BEN CURTIS
Pacquiao: Best yet to come
Jo Sanders and Cathy “Cat” Davis, who after filing a sex discrimination suit against New York State Athletic Commission became one of the first women to be granted a pro boxing license by the organization in 1978.
the 154-pound limit.
“From flyweight to junior middleweight, eight divisions,” Pacquiao said. “Every fight, every victory was a step further from poverty. It was not just for me but for my family, for the Filipino people.”
Vinny Paz, the three-division champion formerly known as Vinny Pazienza who overcame a broken neck sustained in a car crash to resume his career, and Michael Nunn, a champion at middleweight and super middleweight, were the other top men fighters in the class. Women in the class included Yessica Chavez, Anne Sophie Mathis, Mary
Pointing to the jewelry the inductees received, Davis said: “I’ve got this beautiful ring here and I asked them to make it big enough for my middle finger, because if I ever see those old white stupid men who kept us out, you know what I’m going to do.”
Kenny Bayless, who worked some of Pacquiao’s biggest fights including his loss to Floyd Mayweather and knockout of Ricky Hatton, and fellow referee Harry Gibbs were enshrined, along with cut man Al Gavin. Broadcaster Randy Gordon, HBO producer Ross Greenburg and late boxers Rodrigo Valdez and Owen Swift rounded out the class.
Pacquiao retired in 2021 with a record of 62-8-2 with 39 KOs, fighting in
ALAS PILIPINAS gets to showcase its level of preparedness for the FIVB Volleyball Men’s World Championship (FIVB MWCH) Philippines 2025 in the Alas Pilipinas Invitationals that kicks off Tuesday with the national team plunging into action in the flesh before Filipino fans against Indonesia club Jakarta Bhayangkara Presisi at the Smart Araneta Coliseum. “In the flesh and 94 days before the world championship,” Philippine National Volleyball Federation (PNVF) Ramon “Tats” Suzara told the press conference on Tuesday that announced the PNVF’s partnership with Republic Biscuit Corporation (Rebisco) in the three-day, four-team Invitationals at the Novotel Hotel in Araneta City Cubao. The Invitationals invigorates Rebisco’s active sponsorship of the 32-nation FIVB MWCH set September 12 to 28 at the Smart Araneta Coliseum
and SM Mall of Asia Arena. A las Pilipinas squares off with the Indonesians in the 7:30 p.m. main match at the Smart Araneta Coliseum right after the Hyundai Capital Skywalkers of South Korea and Thailand National Team clash at 4 p.m. As proud sponsors of the Men’s Volleyball World Championship, we at Rebisco, together with the PNVF, fully support the continued development and popularity of volleyball among Filipinos,” said Rebisco vice chairman Jonathan Ng.
We see the sport as a vehicle of inspiration for our countrymen to be the best that they can be,” Ng said.
“The values of hard work, discipline, sportsmanship, integrity, and dedication that our players display can be applied to all aspects of Filipino life.”
Also present were PNVF vice president Ricky Palou and secretary-general Don Caringal, Action Republic Corp. president
Rollie Delfino and Field Sales Operations head Alandel Acero, Alas Pilipinas captain Bryan Bagunas and fellow FIVB MWCH ambassador Alyssa Valdez.
With them were the coaches headed by Alas Pilipinas’s Angiolino Frigoni and captains of the participating teams in the event supported by Smart, PLDT Home, Meralco, Metro Pacific, PAGCOR, LRTA, Maynilad, DOOH, RMN Ibis Styles Manila and Smart Araneta Coliseum.
On Wednesday in the Invitationals are the matches between Thailand and Jakarta at 4 p.m. and Alas Pilipinas at 7:30 p.m. and on Thursday, it will be Jakarta against Hyundai at 4 p.m. and Alas Pilipinas against Thailand at 7:30 p.m. T hailand is coached by Park Ki Won with Amornthep Khonhan as captain, Hyundai has Fabio Storti and Tae Jun Jeong and Jakarta has Reidel Alfonso Gonzares Toiran and Nizar Julfikar Munawar.
Tdefeat against Albert Selimov which he later avenged.
W hen he turned professional in 2013, in just his third fight, he won the WBO featherweight title strap which tied a record. Who becomes a world champion in just his third fight?
So Lomachenko goes on to win two more world titles in two different weight classes after only 12 fights. He is the fastest to achieve and accomplish the feat in this era of modern boxing.
The 37-year-old Ukrainian boxing legend never ducked anyone and never dodged anyone. He took on all comers.
Lomachenko finished his decorated career after 21 fights with a record of 18 wins, 12 by way of knockout and 3 defeats at the hands of Orlando Salido, Teofimo Lopez, and Devin Haney. The aforementioned are world class boxers and three of the best the competition had to offer at the time.
He holds wins over the likes of Guillermo Rigondeaux, Jorge Linares, Luke Campbell, and he recaptured the IBF lightweight strap with a TKO win over George Kambosos Jr. last year.
L omachenko possessed great footwork and could let his hands go from different angles as a result of being immersed in dance and gymnastics. Boxing enthusiasts and aficionados
some of the biggest blockbusters of the 2000s. He said he always sought the toughest opponents so he could continuing testing himself.
That made him far richer than he could have imagined when he was raised in poverty in the Philippines. He went on to serve his country as a senator from 2016-22 and ran unsuccessfully for president, and his voice broke a bit as he thanked his fans from home along with his family.
“This is our victory,” Pacquiao said. “This is our story and the best is yet to come.” AP
T he 22-year-old Belen, a three-time UAAP MVP, was long regarded as a top-tier talent, and her entry into the pro ranks has been widely anticipated. Known for her dynamic play, allaround excellence and on-court leadership, she is expected to instantly elevate Capital1’s competitiveness in the upcoming conference of the league organized by Sports Vision.
We’re enjoying every moment of this draft,” said team owner Mandy Romero. “We are truly honored to have had the first overall pick. Bella is a generational talent. She’s a game-changer. This marks a new era for Capital1.” G aleries Tower followed
OKLAHOMA CITY—This has been Oklahoma City’s formula all season: Lose one game, respond in the next.
That’s exactly what the Thunder did in Game 2 of the NBA Finals.
Shai Gilgeous-Alexander scored 34 points, Alex Caruso added 20 off the bench and the Thunder beat the Indiana Pacers, 123-107, on Sunday night to tie these finals at one game apiece.
Jalen Williams scored 19, Aaron Wiggins had 18 and Chet Holmgren finished with 15 for the Thunder. It was the franchise’s first finals game win since the opener of the 2012 series against Miami.
We did some things good tonight. We did some things bad,” GilgeousAlexander said. “We’ve got to be able to get better and be ready for Game 3.” Tyrese Haliburton scored 17 for Indiana, which erased a 15-point, fourthquarter deficit in Game 1 but never made a push on Sunday. Myles Turner scored 16 and Pascal Siakam added 15 for the Pacers, the first team since Miami in 2013 to not have a 20-point scorer in the first two games of the finals.
Game 3 is Wednesday at Indianapolis, in what will be the first finals game in that city in 25 years.
Gilgeous-Alexander’s first basket of the night was a history-maker: It gave him 3,000 points on the season, including the regular season and playoffs. And later in Game 2, he passed New York’s Jalen Brunson (514) as the leading overall scorer in these playoffs. But the real milestone for the MVP came a couple hours later, when he and most everybody else on the Thunder got a finals win for the first time. A 19-2 r un in the second quarter turned what was a six-point game into a 23-point Thunder lead. It might have seemed wobbly a couple of times—an immediate 10-0 rebuttal by the Pacers made it 52-39, and Indiana was within 13 again after Andrew Nembhard’s layup with 7:09 left in the third—but the Thunder lead was never in serious doubt. With the noise level in the building often topping 100 decibels—a chainsaw is 110 dB, for comparison purposes—the Thunder did what they’ve done pretty much all season. They came off a loss, this time a 111-110 defeat in Game 1, and blew somebody out as their response. Including the NBA Cup title game, which doesn’t count in any standings, the Thunder are now 18-2 this season when coming off a loss. Of those 18 wins, 12 have been by double digits. AP
PHL team to Billie Jean King Cup, esports players head PSA guests
TWO Philippine teams set to compete in major international tournaments get to talk about their respective campaigns in the Philippine Sportswriters Association Forum on Tuesday at the conference hall of the Rizal Memorial Sports Complex. Members of the national women’s team to the Billie Jean King Cup and the three Philippine representatives to the Esports World Cup make up the twopart session of the weekly public sports program that starts at 10:30 a.m.
Coach Denise Dy leads the tennis side along with players Alexa Milliam, Shaira Hope Rivera, Teddy Madis, and Stefi Aludo together with Philippine Tennis Association board member and former national player Dyan Castillejo. Meanwhile, Onic Philippines coach Tony “Ynot” Senedrin, Navi coach Salman
describe his movement around the ring as “teleporting” around opponents. You can only do that with tremendous footwork, along with great conditioning.
According to strictlybusinessboxing.com, “His defensive mastery, speed, accuracy, and ring IQ marked him as one of the most skilled boxers ever. He earned nicknames like “Hi-Tech” and “The Matrix.”
Skysports.com described his training as “Uniquely holistic: juggling sandbag drills, flashboards, mental coaching which was blending physical and cognitive conditioning.” I think this is something trainers should consider to break away from the methods of routinary training for their boxers and fighters. It was unorthodox just as it was out of the box. The amateur boxing legend from the Ukraine wasn’t your typical eastern european pugilist. He used finesse, athleticism, and creativity on his way to 18 wins. He wasn’t an easy opponent to prepare for. In this modern era of boxing, Lomachenko was a trailblazer when it
“KingSalman” Macarambon, along with Team Liquid counterparts Rodel “Ar Sy” Cruz, and Vincent “Joy Boy” Guzman, join players Cyric “Kingkong” Perez (Onic), Kiel “Oheb” Soriano (Team Liquid), Gwyneth “Ayanami” Diagon (Navi), and Clarisse “CLA” Cordova (Team Liquid) in representing the Esports portion of the session.
Presented by San Miguel Corporation, Philippine Sports Commission, Philippine Olympic Committee, Milo, Smart/ PLDT, and the countrys’ 24/7 sports app ArenaPlus, the Forum is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation. I t is also aired on a delayed basis over Radyo Pilipinas 2 and shared on its official Facebook page
He put more emphasis on personal growth over fame as evidenced by his retirement statement according to si.com, “I’m grateful...fame, legacy and recognition are not the true purpose of life.”
“Loma” secured his last championship in May of 2024 then announced his retirement from the sport a little more than a year later in June of 2025. The three-division world champion leaves the sport as a pound for pound great and a man that exemplifies transformation both inside and outside the squared circle. He lives his life filled with principles like a balance of faith, humility, service to his country, and a new vision of triumph. He changed how eastern european boxers are perceived, totally changing their identity. Lomachenko’s training gave more emphasis to footwork, movement and mental training. His career won’t just be a collage of highlight reels, but a template and a manual for future pugilists, boxers, and fighters on conducting themselves and having a career filled with science, art, and heart. Maybe a future google reference on how to conduct yourself as a boxer 101.
ASIAN Volleyball Confederation and Philippine National Volleyball Federation president Ramon “Tats” Suzara
coaches and team captains look on.
NEW coach Jorge Souza de Brito (left) and top pick Bella Belen (right) provide a boost for the Solar Spikers owned by sisters Mandy and Milka Romero.
