THE government is closely monitoring the country’s fuel supply while it prepares for “targeted interventions” to help cushion a possible surge in global oil prices due to the conflict between Israel and Iran.
SAN MIGUEL ONE OF SE ASIA’S TOP 10 EARNERS
By VG Cabuag
CONGLOMERATE San Miguel Corp. (SMC) has again landed on the top 10 of Fortune Southeast Asia 500’s list of the region’s top revenue earners for the second consecutive year.
“The seven countries in last year’s inaugural Southeast Asia 500 list—Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia— return in 2025 and continue to make their mark on the region’s economy,” the publication said.
“Together, the Southeast Asia 500 companies are playing an increasingly important role in global supply chains—capturing manufacturing capacity shifting from China, which is drawing signifi-
cant capital flows and reshaping global trade dynamics,” it added.
Ranked 9th the region overall, San Miguel, which has diversified into airport and toll road operation, recorded revenues of $27.49 billion last year.
“The second annual Fortune Southeast Asia 500 provides a snapshot of a region ready to take advantage of global supply chain shifts and booming industries
like mining, EVs, [electric vehicle] and AI [artificial intelligence],” the publication said.
SM Investments Corp., the holding firm of the Sy family, was the Philippines’s second-largest company on the list at 25th with $11.43 billion in revenues, while power distributor Manila Electric Co. ranked 35th with $8.21 billion in revenues.
Ayala Corp., Asia’s oldest conglomerate, was ranked 47th on the list with $6.45 billion, jumping by 23 spots from 70th last year, when the list first came out.
“This leap mirrors the dynamism in the region’s business environment and reflects the conglomerate’s momentum, having logged its strongest year yet in 2024,” it said.
PHL will implement CARF by 2028—DOF
By Cai U. Ordinario @caiordinario
THE Philippines has committed to adhere to the Crypto-Asset Reporting Framework (CARF) to fight cross-border tax evasion and illicit financial flows, according to the Department of Finance (DOF).
The commitment to execute the CARF by 2028 was signified during the 8th Asia Initiative Meeting in Malé, Maldives. The CARF institutionalizes the framework for the reporting and automatic exchange of information in relation to crypto-assets between tax authorities for tax compliance purposes.
“We need faster and stronger systems for collaboration if we are to beat tax evasion and illicit transactions,” Finance Secretary Ralph G. Recto said.
“This is a timely commitment as digital currency becomes one of the preferred means for transactions. The government must ensure that crypto-asset users are paying their fair share of taxes and that no illicit financial activity goes unpunished,” he added.
The Philippines now joins 67 other jurisdictions already committed to implementing the CARF by 2027 or 2028, including 10 in Asia.
The meeting was hosted and co-chaired by Commissioner General of the Maldives Inland Revenue Authority Hassan Zareer, together with Chairman of the State Revenue Committee of Armenia Eduard Hakobyan. Adhering to these tax transparency standards is crucial given that at least EUR 24 billion in additional revenue from 2009 to 2024 has been identified through EOI requests, offshore investigations, Automatic Exchange of Financial Account Information (AEOI), and related voluntary disclosure programs. In 2024 alone, at least EUR 1.9 billion has been identified through EOI requests at EUR 1.7 billion and AEOI which is around EUR 200 million.
San Miguel one of SE Asia’s top 10 earners…
Its units Bank of the Philippine Islands took the 90th spot, while Globe Telecom Inc. placed 114th.
“The Ayala Group’s rankings in the Fortune 2025 Southeast Asia 500 are a testament to its sustained momentum and affirm its strategic presence in key growth sectors. This recognition serves as an inspiration for Ayala to continue investing in businesses that contribute to nationbuilding and help Filipinos thrive,” the conglomerate said. Also on the list were 40 other Filipino firms, including the Gokongweis’ JG Summit Holdings Inc., 61st; Aboitiz Equity Ventures Inc., 68th; Jollibee Foods Corp., 79th; Lucio Co’s Cosco Capital Inc., 88th; Andrew Tan’s Alliance Global Group Inc., 92nd; and PLDT Inc., 95th.
Landing on the list for the first time is D&L Industries Inc., the country’s top chemical manufacturer, placing 355th with revenues of $710 million.
Singapore-headquartered Trafigura Group Pte. Ltd. topped this year’s list, followed by Thai state-owned oil refiner PTT Public Co. Ltd. while Indonesian state-owned oil firm Pertamina came in at third.
PSA: Farmgate price of rice down by nearly 29% in May
By Ada Pelonia @adapelonia
THEaverage farmgate price of paddy rice in the Philippines fell to a threeyear low in May, based on data from the Philippine Statistics Authority (PSA).
Figures from the PSA showed that the average quotation of palay shrank by nearly 29 percent to P17.75 per kilo last month from last year’s P24.95 per kilo.
Historical data indicated that this was the lowest recorded farmgate price in the reference month since 2022, when it reached P17.24 per kilo.
On a monthly basis, the average quotation in May dipped by 1.6 percent from P18.04 per kilo recorded in April.
Calabarzon recorded the steepest decline in May, as average prices in the region fell by 38.6 percent yearon-year, based on PSA data.
The average palay farmgate prices in Calabarzon reached P14.02 per kilo in May, lower than the P22.84 per kilo in the same period last year. This was followed by Cagayan Val-
ley, which registered a 37-percent contraction to P16.11 per kilo last month from P25.57 per kilo in May 2024.
Industry sources lamented claims that some traders are purchasing palay at as low as P10 to P13 per kilo, lower than the production of P17 to P18 per kilo.
They urged the government to impose a palay floor price that would ensure farmers’ profitability amid the slump in farmgate prices of unmilled rice.
Agriculture Secretary Francisco Tiu Laurel Jr. earlier floated the possibility of implementing a floor price for palay.
He noted that the agency is looking for legal remedies that will allow it to implement the measure.
“The DA [Department of Agriculture] is seriously studying this, and
we’re looking for legal avenues that would help us implement this measure if possible,” he added.
However, he noted that restoring some of the National Food Authority’s (NFA) regulatory functions would help the agency enforce the measure.
“Even if we have a floor price set, there’s no registry of traders.
Hacienda…
the date when the notice of coverage was issued by the DAR pursuant PARC’s resolution recalling the approval of the SDP.
Following the SC’s ruling, the DAR-Adjudication Board (DARAB) issued a decision on January 30, 2015 where it adopted and affirmed the valuations of LBP in the amount of P304.03 million as just compensation for HLI’s lands. In the said DARAB decision, the claims of HLI as to additional compensation and interest were denied since HLI already received and withdrew a total amount of P471,501,417.98 broken down as P304,033,138.26 as principal and P167,468,279.78 as interest.
This led to HLI’s filing of a petition before the RTC-SAC for determination of just compensation. On February 15, 2023, the trial court dismissed the petition for being “unmeritorious” and denied HLI’s claim for additional compensation and interests.
The trial court also denied HLI’s motion for reconsideration in a resolution issued on August 11, 2023.
This prompted HLI to elevate the issue before the CA through a petition for review.
In its petition, HLI argued that the lower court erred in concluding that the actual production data could not be validated; the lower court erred when it failed to consider that non-submission of LBP’s computation using HLI’s actual production data yielded a lower land valuation is a willful suppression of evidence; the lower court failed to evaluate, appreciate and rule on the evidence it presented; the lower court erred when it failed to consider and validate HLI’s evidence of use of actual production data will result in a just compensation for P1.029 billion; and that the lower court erred by not impos -
The NFA’s regulatory powers are really crucial,” the DA chief said.
Such functions include the need for retailers and traders to register with the NFA by law, since the agency is “blind” to who they are, he said.
“So, it’s like a cat-and-mouse game because by law it’s no longer required.”
ing interest on the amounts due HLI as just compensate at the rate of 12 percent and 6 percent from the time of taking.
DAR through the Office of the Solicitor General argued that the trial court’s decision has attained finality since HLI failed to file a notice of appeal before the court on or before August 28, 2023.
In ruling in favor of HLI, the CA pointed out that in determining just compensation, among those that should be considered are the nature and character of the land at the time of taking or the time when the owner was deprived of the use and benefit of the property, such as when title is transferred in the name of the Republic of the Philippines.
The time of taking, according to the CA, determines the applicable DAR administrative order to serve as a guideline for the determination of just compensation.
Based on its examination of the records of the case, the CA held that the RTC-SAC erred when it did not take into account the actual production value in the determination on how much the correct compensation due to the petitioner.
The trial court, according to the CA, merely affirmed the LBP and DAR’s valuation without validating the production data and other relevant documents submitted by HLI.
The CA noted that HLI was able to submit to LBP the necessary documents such as the audited financial statements and accounting records to support its claim for a higher compensation.
“In sum, it was established by petitioner that the Land Value of the property is in the amount of P1,029,089,933.66 which to this Court is merely the base amount of just compensation, sans interest and other amounts which could accrue in favor of the land owner,” the CA said.
“This is in view of the fact that the date of taking is 21 November 1989, while payments were only made in year 2013 which is less than the amount of P1,029,089,933.66 as adjudged herein,” it added.
Malacañang said on Tuesday that measures are in place to mitigate the possible surge in oil and fertilizer prices amid the escalating tension in the Middle East. In a press briefing last Tuesday, Palace Press Officer Claire Castro said President Ferdinand Marcos ordered the Department of Energy (DOE) to closely monitor if the ongoing armed-conflict between Israel and Iran translates to higher pump prices.
Citing the assessment of DOE Officerin-Charge (OIC) Sharon S. Garin, Castro said the government expects fuel prices to rise if oil tankers passing through the Strait of Hormuz will face disruptions.
“If the [price] increase is really excessive and unavoidable, the DOE will negotiate with the oil companies to maintain inventory levels and spread out the oil price adjustments as much as possible. That is of course voluntary and will depend on good negotiation [between the government and oil firms],” she added.
“Our immediate priority is to ensure that our fuel supply remains stable and sufficient, and that any local price adjustments are managed in a way that minimizes disruption to our economy.
Through close coordination with the oil industry and strict monitoring of inventory levels, we are working to maintain energy security while preparing targeted interventions to support the most affected sectors,” said Garin.
Oil companies are currently mandated to maintain at least a 30-day inventory of crude oil and a 15-day inventory of finished petroleum products. To ensure compliance with this requirement, DOE Undersecretary Alessandro Sales, who supervises the DOE-Oil Industry Management Bureau, will conduct inspections of oil depots in Manila.
The companies said the DOE has appealed to them to implement staggered fuel price adjustments, especially in cases of sudden and significant spikes in global oil prices.
JETTI said it is willing to implement the potential increase on staggered basis, “if required,” said company president Leo Bellas.
“The company is closely monitoring the events in the Middle East and how they affect markets. We have been formulating contingency plans to cope with the situation,” he added. As of June 16, the price of Dubai crude reached $73 per barrel. Under the existing policy, fuel assistance for public transport drivers and farmers is automatically activated when the price breaches $80 per barrel.
As of Tuesday, oil companies implemented the following price increase: P2 per liter for fuel; P1.80 per liter for gasoline; P1.80 for diesel; and P1.50 per litter for kerosene. The 2025 General Appropriations Act (GAA) provides an allocation of P2.5 billion through the Department of Transportation for fuel subsidies to drivers of public utility vehicles, taxis, ride-hailing services, and delivery platforms nationwide. Meanwhile, the Department of Agriculture has an allocation of P585 million to support farmers and fisherfolk who may be adversely affected by rising fuel costs. At the same time, the government is accelerating its energy efficiency initiatives and promoting the electrification and hybridization of the public transport sector to reduce the Philippines’s dependence on imported oil and enhance long-term energy resilience.
Impact on fertilizer ASIDE from fuel prices, the Marcos administration is also determining how the Israel-Iran conflict can affect the country’s fertilizer supply.
House Committee on Ways and Means Chairman Joey Sarte Salceda had warned that 66 percent of the country’s nitrogenbased fertilizer requirement is imported from countries like Qatar—one of three major suppliers of the farm input. Castro said Agriculture Secretary Francisco P. Tiu Laurel Jr. was aware of the said risk and has now considered alternative sources for imported fertilizers.
The delay in the payment of just compensation, according to the CA, would necessarily entitle HLI to earn interest. “Thus, as it shows, the amount of just compensation due to the subject property is P28,488,944,278.71 as of 30 April 2025,” the CA declared.
“We spoke with DA [Department of Agriculture] Secretary Laurel a while ago and he said that he is ready and if this happens, we can (import) it from other parts of the world that are close to us like Brunei,” Castro said. She said the DA is hopeful that tensions in the Middle East will not lead to a shortfall in fertilizer supply and that the sea lanes through which the commodity will be delivered will remain open. The ongoing war between Israel and Iran has already killed around 250 people. There are now ongoing international calls, particularly to members of the G7, for a de-escalation of hostilities between the two countries.
PNA FILE PHOTO
.6M minimum wage earners to benefit from cheaper rice
By Ada Pelonia @adapelonia & Justine Xyrah Garcia
THE Department of Agri -
culture (DA) on Monday signed an agreement with the Department of Labor and Employment (DOLE) that is aimed at increasing the beneficiaries of the P20 per kilo rice program to as many as 600,000 minimum wage earners.
Agriculture Secretary Francisco Tiu Laurel Jr. and Labor
Secretary Bienvenido Laguesma signed the memorandum of agreement (MOA) that broadens the distribution channel of the government’s cheaper rice program.
Initially set at 120,000 minimum wage earners beneficiaries nationwide, the Tiu Laurel noted that the P20 rice could now reach 500,000 to 600,000 workers towards the end of the year.
“This program is a targeted initiative and will not directly benefit every Filipino, but its ripple effects through stronger consumer
spending and economic activity will,” Laurel said.
Furthermore, he said the MOA would also cover Dole’s support in terms of manpower, providing assistance through the agency’s Tulong Panghanapbuhay sa Ating Disadvantaged-Displaced (Tupad) workers.
Dole said seven labor organizations have also been accredited to operate Kadiwa sites, with additional six groups underway after signifying their interest to join the program.
DA rolls out ₧20/kilo rice in Siquijor
THE Department of Agriculture (DA) on Tuesday launched the government’s P20 rice program in Siquijor, which is still reeling from effects of blackouts caused by the breakdown of the generator sets of the Villar-owned power company that operates on the island-province.
DA said the roll out of the rice program is aimed at gaining insight into the logistical challenges of delivering subsidized rice to remote areas.
“The launch of the P20 program in this magical island of Siquijor serves as a strategic model for the initial rollout of the program to other island provinces,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement.
The DA is banking on this rollout to understand the logistical and community challenges of delivering the cheaper rice program to remote and underserved areas.
Laurel noted that Siquijor would help build the blueprint for expanding the program
across the country, which the government plans to sustain until 2028.
For his part, Food Terminal Inc. (FTI) President Joseph Lo said that the Siquijor launch would serve as a testing ground for refining logistics, ensuring orderly distribution, and establishing real-time feedback systems, which are vital components of a sustainable national rollout.
“We’re not just delivering rice; we’re building the framework to deliver it better,” Lo said.
For this first phase, the DA noted that around 425 households would benefit from the P20 per kilo rice in the province. This translates to about 1,700 residents.
“It’s a small step, but one with potentially far-reaching consequences for communities long burdened by rising food prices.”
The agency explained that this kick off follows a similar pilot activity conducted in Bacolod City, Negros Occidental, another province in the recently re-established Negros
Island Region (NIR).
It added that the NIR, considered one of the poorer areas in the Visayas, has been identified as a focal point for the program’s pilot phase, which will run through the end of the year.
“As rice remains a symbol of survival and dignity in Filipino households, the P20 program signals more than just a policy shift—it represents a promise to those who have long waited for real, tangible relief,” the DA said.
The government launched the cheaper rice program last month, with the aim of reaching up to 14 million people, particularly vulnerable sectors such as single parents, senior citizens, persons with disabilities (PWDs), and indigents.
The agency is proposing a P10-billion budget to sustain the cheaper rice program next year, which is double the current P5 billion from the Office of the President’s contingency fund. Ada Pelonia
The DA said the joint partnership also aligns the implementation of the Kadiwa program with Dole’s Integrated Livelihood Program (DILP), ensuring that eligible groups, such as labor unions, workers’ associations, and cooperatives, could access livelihood assistance while actively engaging in the agri-based value chains of Kadiwa.
Both agencies launched the nationwide rollout of the P20 rice program for minimum wage earners last week. Rice sold un -
der the program is sourced from stocks purchased by the National Food Authority (NFA) from local farmers.
Meanwhile, the DA also signed a MOA with the Philippine Carabao Center (PCC) that would integrate 48 Dairy Box outlets into the Kadiwa network.
The Dairy Box is a PCC-led initiative selling freshly made dairy products aimed at supporting smallholder dairy farmers and entrepreneurs.
According to Maria Theresa
Sawit, National Carabao-based Enterprise Development Coordinator, the inclusion of Dairy Box outlets in Kadiwa would expand market access for dairy producers while promoting locally sourced, nutritious products.
“This partnership strengthens the link between our farmers and Filipino consumers,” she added, noting that this would uplift producers across various agricultural sectors by connecting them to national supply and demand channels.
DOTr set to modernize, expand busway systems
TBy Lorenz S. Marasigan @lorenzmarasigan
HE Department of Transportation (DOTr) is pushing ahead with plans to modernize and expand dedicated busway systems, starting with the rehabilitation of the Epifanio delos Santor Avenue (Edsa) Busway and a planned rollout of new corridors in Metro Manila and major provincial cities.
Transportation Secretary Vivencio Dizon said the government is set to begin rehabilitation works on the Edsa Busway this year, with the long-term goal of transforming it into a more sustainable public transport system through a public-private partnership (PPP) project.
“We are going to rehab[ilitate] the
Edsa Busway and we are going to do that this year. The IFC [International Finance Corp.] is helping us do the PPP of the busway. I think that’s the way forward — that is the long term solution to the busway. We need more of those,” he said at the sidelines of the Economic Journalists Association of the Philippines (Ejap) Infrastructure Forum.
The Edsa Busway PPP is set to be auctioned off in 2026.
Among the top priorities is a new busway corridor along España Boulevard in Manila to Quezon Avenue in Quezon City, which Dizon described as the “most viable and most needed” addition due to its existing road width and potential to relieve pressure on the Metro’s congested roads.
“The España-Quezon Avenue Busway
is very important. We are doing a feasibility study for it, hopefully next year,” Dizon said. “It’s not difficult to build.”
He explained that the government will build the “more or less [a] 15-kilometer” infrastructure and will bid out the operations and maintenance contract thereafter.
Beyond Metro Manila, the DOTr is banking on major bus rapid transit (BRT) projects to transform public transport in the provinces. Dizon identified the Cebu BRT and the Davao Public Transport Modernization Project as critical components of this strategy.
Dizon described these projects are “game changers because they will be a model for other areas like Iloilo, Bacolod, and Baguio.”
A4 Wednesday, June 18, 2025
Teves set for ‘major surgery’
Dwww.businessmirror.com.ph
DOJ condemns killing of House exec
TBy Joel R. San Juan @jrsanjuan1573
ETAINED former Negros Oriental congressman Arnolfo Teves Jr. will undergo “major surgery” in a private hospital, owing to severe stomach pains which started Monday evening.
Teves’ lawyer Ferdinand Topacio said physicians at a government hospital where the former legislator was first taken have recommended his transfer to St. Luke’s Medical Center at the Bonifacio Global City for the medical procedure.
“After being examined at a government hospital this morning until mid-afternoon, the
doctors there decided that Mr. Teves’ condition requires major surgery in another hospital which has additional equipment and facilities,” Topacio said while refusing to disclose the doctor’s diagnosis on Teves.
Topacio said all trial courts where Teves have pending cases have already been notified about his condition.
Teves, who is accused of masterminding the killing of then Negros Oriental Gov. Roel Degamo and several others in a commandostyle raid in the governor’s house in March 2023, was rushed to the hospital at around 6:00 a.m. upon the advice of the Bureau of Jail Management and Penology’s (BJMP) physician.
The report provided by the BJMP to Topacio, said the detainee showed symptoms (of pain) at around 7:00 p.m. of June 16, thus, the jail nurse provided medications and treatment to relieve his condition.
His symptoms allegedly worsened until early morning of Tuesday, prompting the BJMP physician to advise the warden of Metro Manila District Jail-Annex 2 in Camp Bagong Diwa, Taguig City, to immediately take him to the nearest government hospital.
Teves was still at the hospital’s emergency room ward receiving medical intervention as of 9:00 a.m. Tuesday.
“Our client was buckling over due to pain, and according to
him, he was practically on his knees, requesting to be brought to a hospital for treatment, but BJMP personnel could not grant said request due to protocol,” Topacio told reporters.
“It was only when I arrived at around 7:00 a.m. That the patient was brought to a hospital. By then, pain has become aggravated,” he added.
Teves was transferred last week to the jurisdiction of the BJMP at Camp Bagong Diwa from the custody of the National Bureau of Investigation (NBI) based on the commitment orders issued by two Manila courts handling the Degamo mass killing and the illegal possession of firearms and explosives charges filed against him.
House prosecution panel gets veteran lawyer as spokesman
TBy Jovee Marie N. dela Cruz @joveemarie
HE House of Representatives on Tuesday introduced veteran litigation and human-rights lawyer Antonio Bucoy as the official spokesman for the prosecution panel in the impeachment trial of Vice President Sara Duterte.
In his first news conference as House prosecution panel spokesperson, Bucoy pushed back against Senate President Francis Escudero’s recent statement claiming that the Senate impeachment court has no limits on what it can decide. Bucoy clarified that the powers of the Senate impeachment court are clearly defined by the 1987 Constitution.
“In fact, if the impeachment rules are not aligned with the Constitution, then they are invalid. So for him to claim that they can do anything, that they can issue any order—that’s simply wrong,” Bucoy said.
As this developed, Senate impeachment court released the list of lawyers who will represent Duterte in the trial.
Asked to respond, Bucoy said the filing of the appearance means her camp is now prepared to face the proceedings.
“They have entered their appearance, which means they are ready to face trial,” Bucoy said. “As to the next question—when will we name the private prosecutors? All in due time.”
Serving the nation
BUCOY said he accepted the role after being approached by friends in the prosecution panel and after consulting with his family.
“I took on this responsibility for the country,” Bucoy said. “No, I will not be paid. As I said, I was asked to help, and I do not need compensation. This is for the nation—not for money, but for country.”
Bucoy is a seasoned litigation lawyer with 41 years of experience. A 1984 graduate of the University of the Philippines (UP) College of Law, he is currently the managing partner at Bucoy Poblador and Associates Law Offices.
He teaches corporate and remedial law and specializes in corporate and tax law, as well as trial and appellate litigation.
Bucoy is also a long-time human rights lawyer, having been a member of the Free Legal Assistance Group (FLAG) since 1980 and a part of the Movement of Attorneys for Brotherhood, Integrity, and Nationalism, Inc. (Mabini).
He urged both the Filipino people and the Senate to treat the impending impeachment trial of Duterte not merely as a legal undertaking, but as a crucial test of the nation’s moral compass.
Bucoy emphasized the seriousness and historical significance of the charges now set to be heard by the Senate impeachment court.
“We are faced with an issue of accountability—but not just any kind of accountability. This is a matter of moral accountability,” Bucoy said.
“This is tied to a singular and extraordinary process that our country must now confront: the impeachment of our sitting vice president,” he added.
“For the first time ever, the secondhighest official in the land stands accused of threatening the lives of the President, the First Lady, and the Speaker of the House. And this goes beyond mere threats. She admitted to contracting someone to carry out those threats. In other words, she hired an assassin,” Bucoy stated.
He also pointed to the gravity and rarity of the additional charges: plunder, malversation of public funds, betrayal of the Constitution, and other heinous offenses.
“This case is unprecedented—she is also being charged with plunder, for the first time ever in our nation’s history. She faces a third article for malversation of public funds. She stands accused of betraying the Constitution. And finally, she is charged with committing heinous crimes,” he said.
But Bucoy stressed that the trial is not just about one person—it will also put the integrity of the Senate and the collective conscience of the Filipino people to the test.
“This trial is not only about the Vice President. It is also about the Senate as an impeachment court. And more than that,
Comelec starts deleting May polls’ digital files
THE Commission on Elections (Comelec) on Tuesday began deleting select digital files from the May 12 national and local elections.
In an ambush interview at the National Printing Office in Quezon City, Comelec Commissioner Rey E. Bulay explained that the deletion marks the final step in the poll body’s ballot printing operations. Bulay, who is the commissioner-in-charge in the Committee on Ballot Printing, said the move is part of the commission’s effort to protect all collected election data in line with the Data Privacy Act.
“File deletion is routinely done after every election. This time, we are making sure it’s transparent because that was the promise of our chairman, George Garcia, to let the public
see every step of the process through you [the media],” he said.
Among the deleted files were official ballot faces for all regions, ballots used during final testing and sealing, and voter information sheets from Regions III, IV-A, IV-B, IX, VII, and X.
Another deletion activity is scheduled next week in Bulacan, which will cover the remaining voter information sheets stored in the facility.
Bulay emphasized that none of the deleted files have duplicates, as Comelec is not allowed to create backups of these sensitive materials.
“These records—except those in our archives—are permanently deleted,” he added.
BARMM polls preparation
BULAY also shared that preparations are in full swing for the first-ever Bangsamoro Parliament elections in October.
He said around 2.3 to 2.5 million ballots will be printed, which will also include those needed for voter education roadshows, training of election board members, mock elections, and the final testing and sealing procedures.
As part of the preparations, Comelec is moving forward with the allocation of 73 parliament seats, following the absence of any formal response from the Bangsamoro Transition Authority (BTA) on whether the number of seats should be 73 or 80.
“We’re set with 73. That won’t change. There was no reply to the letter we sent— that’s what I heard,” Bulay said. The uncertainty stemmed from the withdrawal of Sulu from the Bangsamoro region last year.
After the province rejected the Bangsamoro Organic Law, the Supreme Court ruled that Sulu and the seven parliament seats previously allocated to it were no longer under the region’s jurisdiction.
In the absence of a final decision from the BTA, Comelec earlier said it would proceed with the current 73-seat configuration.
Under this setup, 40 seats are allocated for regional political parties, 25 for district representatives, and eight for sectoral representatives.
The Bangsamoro parliamentary elections, originally scheduled to coincide with the May 12 polls, were rescheduled to October 13 after President Marcos signed the enabling law. Justine Xyrah Garcia
HE Department of Justice (DOJ) on Tuesday condemned the killing of 63-year-old House of Representatives official Mauricio “Morrie” Pulhin during his daughter’s birthday party inside a gated subdivision in barangay Commonwealth, Quezon City on Sunday.
In a statement, Justice Secretary Jesus Crispin Remulla vowed that the department would closely work with authorities to identify Pulhin’s assailants.
Pulhin, chief of Technical Staff of the House Committee on Ways and Means, was shot at close range by a gunman who escaped using a motorcycle driven by a cohort at the venue of his daughter’s birthday celebration.
decisively served,” Remulla added. Remulla said authorities are not taking the incident lightly considering that the victim is in public service.
the Filipino people are also being tested,” he said.
He called on citizens to pay close attention and participate in the democratic process.
“The public must open its eyes, engage in the process, and help answer the difficult questions that this case presents,” Bucoy urged.
Defense panel
THE 16 lawyers who will defend Duterte— formally entered their appearance before the Senate impeachment court.
The Appearance Ad Cautelam was received at 5:03 p.m. by the Office of the Senate Secretary acting as Clerk of Court.
The filing was submitted by the law firm Fortun Narvasa & Salazar, with the lawyers entering their appearance “without prejudice to any jurisdictional and/or other objections” the Vice President may raise.
The lawyers who signed the entry of appearance are Philip Sigfrid A. Fortun, Gregorio Y. Narvasa II, Sheila C. Sison, Carlo Joaquin T. Narvasa, Roberto A. TungpalanBacalc, Justin Nicol B. Gular, Lindon Miguel L. Miguel, David Ronell M. Golla VII, Maria Selene Golda R. Fortun, Claribae F. Radoc, Francesca Marie Y. Flores, Miguel Carlos A. Fernandez, Michael Wesley T. Poa, Reynold S. Munsayac, Mark C. Vinluan and Ralph B. Bodota. With PNA
Press freedom groups fail to visit detained journalist
TACLOBAN CITY—A coalition of press freedom organizations, composed of AlterMidya, the Committee to Protect Journalists (CPJ), Free Press Unlimited (FPU), the National Union of Journalists of the Philippines (NUJP), and Reporters Without Borders (RSF), travelled to Tacloban to meet with detained journalist Frenchie Mae Cumpio, but was denied access to the detention center where she was being held.
The group had submitted an official request to the Bureau of Jail Management and Penology (BJMP) on May 5, seeking permission to meet with Cumpio and express solidarity amid growing concern over her prolonged detention.
The delegation made the request with the backing of the Media Freedom Coalition (MFC)—a global alliance of 51 states committed to defend press freedom—and received the response only a few days before the planned visit and was ultimately denied entry to the detention facility.
After lengthy discussions with prison authorities, the 26-year-old journalist was briefly allowed to appear from a distance, separated by three layers of prison bars.
During this brief encounter, she managed to pass, through the guards, a letter addressed to Irene Khan, the UN Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, who recently highlighted her case in a special report strongly damning the Philippine authorities.
The coalition also handed a package with necessities such as medication, and handwritten letters addressed to Cumpio from the representatives of nongovernment organizations present.
“This Department has the full capability and unyielding resolve to pursue and capture those responsible. We will work handin-hand with the Philippine National Police and the National Bureau of Investigation, dedicating every resource needed to ensure that these criminals are identified, arrested, and made to face the full force of the law,” Remulla said.
“We will leave no stone unturned until justice is swiftly and
“We understand the public’s need for answers and swift action. The DOJ assures the public that we will work diligently and carefully, ensuring that every lead is thoroughly followed, all evidence is meticulously examined, and every viable option is explored to ensure that the perpetrators are held accountable under the full force of the law,” Remulla pointed out. He also appealed to individuals who may have information that could lead to the identification and eventual arrest of the suspects to cooperate with the investigators.
Meanwhile, Gen. Nicolas Torre III, National Police chief, said the Quezon City Police District has identified persons of interest in Pulhin’s killing. Torre told a radio station that manhunt operations are ongoing against the two assailants. He said a special investigation task group has been formed to focus on the case.
Joel R. San Juan
Risa to Sara: Just answer summons
By Butch Fernandez @butchfBM
WITH just a few days left before the 10-day nonextendible deadline given by the impeachment court for her to reply to the summons, Vice President Sara Duterte should simply craft and submit her reply instead of being distracted by issues of “bias” among senator-judges. Sen Anna Theresia “Risa” Hontiveros issued this statement on Tuesday after her comment was sought on the Vice President’s remarks on Monday in Davao, suggesting that Hontiveros also be compelled to inhibit herself from the trial, expected to commence in July, if the so-called senatorjudges “biased” for Duterte are to be excluded. Hontiveros, after all, has been open in her “bias” against the Duterte family, the vice president said. Earlier, calls were made by various sectors, including Akbayan party-list group where Hontiveros is a member, to recuse four senator-judges for showing obvious preference for Duterte—Sens. Christopher Go, a long-time goffer of former President Rodrigo Duterte; Ronald dela Rosa, who made a motion on the floor ask-
ing the Senate to dismiss the complaint from the House of Representatives, contrary to the constitutional mandate for the chamber to try the case; and Imee Marcos amd Robin Padilla, who were seen lunching with VP Duterte in Malaysia on June 12. In reaction to the inhibition calls, Duterte had said if “bias” were to be considered in her trial, then people like Hontiveros should also recuse themselves for being biased against her.
On Tuesday, Hontiveros replied to this, speaking partly in Filipino: “As I said before, when we took our oath, as a senator-judge we will look very closely at all the evidence presented in the impeachment trial of VP Sara Duterte.
“When we were sworn in as senator-judges, it became our solemn duty to examine and vote according to the weight of the evidence presented by both sides in the impeachment trial—whether ally or critic of the vice president. I obey that call to duty, and I trust all senator-judges do the same.” Hontiveros concluded: “One good way for the Vice President to start presenting her arguments is by filing an answer to the summons issued by the Senate impeachment court last week.”
Customs seizes ₧30-M shabu at Naia
THE Bureau of Customs (BOC) intercepted P29.7 million worth of methamphetamine hydrochloride, or shabu, at the Ninoy Aquino International Airport (NAIA) Terminal 3.
In a statemenet, the bureau said that the illicit drugs seized on Saturday, weighed 4,368 grams and were discovered during a routine screening of the luggage of a passenger from Malaysia. The suspect was immediately arrested upon verification of the contraband.
The seized drugs and the arrested individual were turned over to Philippine Drug Enforcement Agency for inquest proceedings for violations of Republic Act 9165 (Comprehensive Dangerous Drugs Act of 2002, as amended) and Republic Act 10863 (Customs Modernization and Tariff Act).
“This interception is a testament to our sustained vigilance and the dedication of our personnel. We remain steadfast in our mission to secure our borders against drug trafficking and all forms of smuggling,” Customs
Commissioner Bienvenido Y. Rubio said. The drugs were intercepted with a combination of x-ray scanning, K-9 inspection, and a detailed physical examination led authorities to a suspicious package containing white crystalline substances.
The BOC also said subsequent chemical analysis confirmed the substance to be methamphetamine hydrochloride.
“We are fully aligned with the national government’s thrust to combat illegal drugs. Through strong inter-agency coordination and proactive enforcement, BOCNaia will continue to be a frontline defense in protecting the public,” Customs District Collector Yasmin O. Mapa said. This successful interdiction adds to a string of recent accomplishments by BOC-Naia in curbing the entry of illegal drugs into the country, reinforcing its critical role in upholding national security and public safety at the nation’s main air gateway. Cai U. Ordinario
TheWorld
Editor: Angel R. Calso
Wednesday, June 18, 2025 A5
Israel hits Iran state TV during live broadcast; Trump urges immediate evacuation of Tehran
By Ami Bentov & Melanie Lidman
The Associated Press
TEL AVIV, Israel—Israel struck Iran’s state-run television station Monday during a live broadcast, forcing a reporter to run off camera following an explosion, after Iran fired a new wave of missiles at Israel that killed at least eight people.
In other developments, Prime Minister Benjamin Netanyahu said the Israeli strikes have set Iran’s nuclear program back a “very, very long time.” He added that Israel is not attempting to topple the Iranian government, but he said he would not be surprised if that happened as a result of the strikes.
“The regime is very weak,” Netanyahu told a news conference. He also said he is in daily touch with US President Donald Trump, who posted an ominous message on his social media site later Monday calling for the immediate evacuation of Tehran.
Israel had warned hundreds of thousands of people in the middle of the Iranian capital to evacuate ahead of the strike against the TV station, which the military said provided a cover for Iranian military operations.
That warning came on the fourth day of the conflict, when the Israeli military claimed it had achieved air superiority above the Iranian capital and could fly over the city without facing major threats.
Trump posted his own message while in Canada attending the G7 summit. He has repeatedly said—and said more than once during the day—that Iran could not have a nuclear weapon. He emphasized that again in his post, writing “IRAN CAN NOT HAVE A NUCLEAR WEAPON,” adding that Iran should have signed the “deal” he told it to sign to prevent what he said was “a shame, and waste of human life,” referring to Israel’s attack last week.
Trump ended the post with, “Everyone should immediately evacuate Tehran!” White House press secretary Karoline Leavitt said on social media shortly after Trump’s post that he was departing the summit on Monday night, leaving for Washington a day early due to the intensifying conflict between Israel and Iran.
Israel’s military issues evacuation warning affecting up to 330,000 people
TEHRAN is home to around 9.5 million people. Earlier Monday, Israel’s military issued an evacuation warning affecting up to 330,000 people in a part of central Tehran that includes the country’s state TV and police headquarters, as well as three large hospitals, including one owned by Iran’s paramilitary Revolutionary Guard. Israel’s military has issued similar evacuation warnings for civilians in parts of Gaza and Lebanon ahead of strikes.
State-run television abruptly stopped a live broadcast after the station was hit, according to Iran’s state-run news agency. While on the air, an Iranian state television reporter said the studio was filling with dust after “the sound of aggression against the homeland.” Suddenly, an explosion occurred, cutting the screen behind her as she hurried off camera.
The broadcast quickly switched to prerecorded programs. The station later said its building was hit by four bombs. An anchor said on air that a few colleagues had been hurt, but their families should not be worried. The network said its live programs were transferred to another studio.
Israel claims ‘full aerial superiority’ over Tehran
ISRAELI military spokesperson Brig. Gen. Effie Defrin said his country’s forces had “achieved full aerial superiority over Tehran’s skies.”
The military said it destroyed more than 120 surface-to-surface missile launchers in central Iran, a third of Iran’s total, as well as two F-14 planes that Iran used to target Israeli aircraft and multiple launchers just before they launched
ballistic missiles towards Israel.
Israeli military officials also said fighter jets had struck 10 command centers in Tehran belonging to Iran’s Quds Force, an elite arm of its Revolutionary Guard that conducts military and intelligence operations outside Iran.
The Israeli strikes “amount to a deep and comprehensive blow to the Iranian threat,” Defrin said.
Elsewhere, three drones struck South Pars, Iran’s main gas production center, according to Iranian state news. The report did not specify the extent of the damage.
Iran, meanwhile, announced it had launched some 100 missiles and vowed further retaliation for the sweeping attacks on its military and nuclear infrastructure that have killed at least 224 people in the country since Friday.
So far, 24 people have been killed in Israel and more than 500 injured, Israeli officials said, after Iran launched more than 370 missiles and hundreds of drones.
One missile fell near the American consulate in Tel Aviv, with its blast waves causing minor damage, US Ambassador Mike Huckabee said on X. He added that no American personnel were injured.
The latest conflict began when Israel launched an assault on Iran’s top military leaders, uranium enrichment sites and nuclear scientists that it said was necessary to prevent its longtime adversary from getting any closer to building an atomic weapon.
Iran maintains that its nuclear program is peaceful, and the US and others have assessed that Tehran has not pursued a nuclear weapon since 2003. But the head of the International Atomic Energy Agency has repeatedly warned that the country has enough enriched uranium to make several nuclear bombs if it chooses to do so.
Iran has retaliated by firing waves of ballistic missiles at Israel. The backand-forth has raised concerns about all-out war between the countries and propelled the region, already on edge, into even greater upheaval.
Explosions rock Tel Aviv, Petah Tikva, and Haifa oil refinery
POWERFUL explosions rocked Tel Aviv shortly before dawn Monday, sending plumes of black smoke into the sky over the coastal city.
Authorities in the central Israeli city of Petah Tikva said Iranian missiles hit a residential building there, charring concrete walls, shattering windows and ripping the walls off multiple apartments.
Iranian missiles also hit an oil refinery in the northern city of Haifa for the second night in a row. The early morning strike killed three workers, ignited a significant fire and damaged a building, Israel’s fire and rescue services said. The workers were sheltering in the building’s safe room when the impact caused a stairwell to collapse, trapping them inside.
Firefighters rushed to extinguish the fire and rescue them, but the three died before rescuers could reach them.
The Israeli Magen David Adom emergency service also reported that five people were killed in the strikes in central Israel.
Petah Tikva resident Yoram Suki rushed with his family to a shelter after hearing an air-raid alert. They emerged after it was over to find his apartment destroyed.
Despite losing his home, he urged Netanyahu to keep up the attacks on Iran.
“It’s totally worth it,” the 60-year-old said. “This is for the sake of our children and grandchildren.”
In addition to those killed, the emergency service said paramedics evacuated another 87 wounded people to hospitals, while rescuers were still searching for residents trapped beneath the rubble of their homes.
“When we arrived at the scene of the rocket strike, we saw massive destruction,” said Dr. Gal Rosen, a paramedic with the service who said he rescued a 4-day-old baby as fires blazed from the building.
Oil prices rise and US futures fall as Israel warns residents of Iran’s capital to evacuate
By Elaine Kurtenbach AP Business Writer
BANGKOK—Oil prices resumed their upward climb and US futures were lower early Tuesday after Israel’s military issued an evacuation warning to 330,000 people in Iran’s capital Tehran.
Asian shares were mixed. The evacuation warning was for a part of Tehran, a city of 9.5 million, that houses the country’s state TV and police headquarters and three large hospitals, including one owned by Iran’s paramilitary Revolutionary Guard.
The Bank of Japan has been gradually raising its rate from near zero and cutting back on its purchases of Japanese government bonds and other assets to help counter inflation. It said economic growth was likely to moderate and there was some weakness in consumer sentiment, housing investment.
“In particular, it is extremely uncertain how trade and policies in each jurisdiction will evolve and how overseas activity and prices will react to them,” the BOJ’s statement said.
Chinese shares edged lower. In Hong Kong, the Hang Seng slipped 0.1% to 24,038.56. The Shanghai Composite index declined 0.2% to 3,382.14.
key among them Donald Trump’s tariffs, which still threaten to slow the US economy and raise inflation if Washington doesn’t win trade deals with other countries. The specter of tariffs was looming over the meeting of the Group of Seven meeting of major economies in Canada.
US President Donald Trump announced he was returning from the G7 summit in Canada a day early due to the intensifying conflict. The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.3%.
In Asia, Tokyo’s Nikkei 225 index climbing 0.6% to 38,547.56 as the Japanese central bank opted to keep its key interest rate unchanged at 0.5%.
In South Korea, the Kospi gained 0.4% to 2,956.88.
Australia’s S&P/ASX 500 gave up 0.1% to 8,543.60. Taiwan’s Taiex gained 0.6% and in Bangkok the SET was little changed.
As Israel and Iran attack each other the fear remains that a wider war could constrict the flow of Iran’s oil to its customers. That in turn could raise gasoline prices worldwide and keep them high, though spikes in prices from previous conflicts have been brief.
Crude jumped 7% late last week after Israel’s attack on Iranian
No sign of conflict letting up IRAN’S foreign minister, Abbas Araghchi, appeared to make a veiled outreach Monday for the US to step in and negotiate an end to hostilities between Israel and Iran.
nuclear and military targets. Early Tuesday, US benchmark crude oil gained 31 cents to $72.08 per barrel, while Brent crude, the international standard, was up 33 cents at $73.56 per barrel.
On Monday, the mood was calm on Wall Street, as the S&P 500 climbed 0.9% to reclaim most of its drop from Friday. It closed at 6,033.11. The Dow Jones Industrial Average added 0.8% to 42,515.09, and the Nasdaq composite gained 1.5% to 19,701.21. US Steel rose 5.1% after Trump signed an executive order on Friday
In a post on X, Araghchi wrote that if Trump is “genuine about diplomacy and interested in stopping this war, next steps are consequential.”
“It takes one phone call from Washington to muzzle someone like Netanyahu,” Iran’s top diplomat wrote. “That may pave the way for a return to diplomacy.”
The message to Washington was
paving the way for an investment in the company by Japan’s Nippon Steel. Trump would have unique influence over the operations of US Steel under the terms of the deal. They helped offset drops for defense contractors, which gave back some of their jumps from Friday. Lockheed Martin fell 4%, and Northrop Grumman sank 3.7%.
The price of gold receded after jumping on Friday, when investors were looking for someplace safe to park their cash. An ounce of gold fell $14.60 to $3,402.40 per ounce.
Investors have other concerns,
sent as the latest talks between the US and Iran were canceled over the weekend after Israel targeted key military and political officials in Tehran.
On Sunday, Araghchi said that Iran will stop its strikes if Israel does the same. But after a day of intensive Israeli aerial attacks that extended targets beyond military installations, the Revolutionary Guard struck a hard line on Monday, vowing that further rounds of strikes would be “more forceful, severe, precise and destructive than previous ones.” Health authorities reported that 1,277 people were wounded in Iran. Iranians also reported fuel rationing.
Rights groups such as the Washington-based Iranian advocacy group Human Rights Activists
Later this week, the Federal Reserve is set to discuss whether to lower or raise interest rates, with the decision due on Wednesday. The nearly unanimous expectation among traders and economists is that the Fed will stand pat. The Federal Reserve has hesitated to lower interest rates after one cut late last year. It is waiting to see how much Trump’s tariffs will hurt the economy and raise inflation, which has remained tame recently, and is near the Fed’s 2% target.
More important for financial markets on Wednesday will likely be forecasts for where Fed officials they see the economy and interest rates heading in upcoming years.
In other dealings early Tuesday, the US dollar fell to 144.59 Japanese yen from 144.75 yen. The euro rose to $1.1564 from $1.1562.
AP Business Writer Stan Choe contributed.
have suggested that the Iranian government’s death toll is a significant undercount. The group says it has documented more than 400 people killed, among them 197 civilians.
Ahead of Israel’s initial attack, its Mossad spy agency positioned explosive drones and precision weapons inside Iran. Since then, Iran has reportedly detained several people and hanged one on suspicion of espionage.
and David Rising in Bangkok contributed to this report.
The Associated Press writers Amir Vahdat and Nasser Karimi in Tehran, Iran; Tia Goldenberg in Tel Aviv; Isaac Scharf and Julia Frankel in Jerusalem; Isabel DeBre in Buenos Aires, Argentina; Farnoush Amiri in New York; Darlene Superville in Washington
KANANASKIS, Alberta—President Donald Trump is abruptly leaving the Group of Seven summit, departing a day early Monday as the conflict between Israel and Iran intensifies and the US leader has declared that Tehran should be evacuated “immediately.”
World leaders had gathered in Canada with the specific goal of helping to defuse a series of global pressure points, only to be disrupted by a showdown over Iran’s nuclear program that could escalate in dangerous and uncontrollable ways. Israel launched an aerial bombardment campaign against Iran four days ago.
At the summit, Trump warned that Tehran needs to curb its nuclear program before it’s “too late.” He said Iranian leaders would “like to talk” but they had already had 60 days to reach an agreement on their nuclear ambitions and failed to do so before the Israeli aerial assault began. “They have to make a deal,” he said.
Asked what it would take for the US to get involved in the conflict militarily, Trump said Monday morning, “I don’t want to talk about that.”
So far, Israel has targeted multiple Iranian nuclear program sites but has not been able to destroy Iran’s Fordo uranium enrichment facility. The site is buried deep underground— and to eliminate it, Israel may need the 30,000-pound (14,000-kilogram) GBU-57 Massive Ordnance Penetrator, the US bunker-busting bomb that uses its weight and sheer kinetic force to reach deeply buried targets. Israel does not have the munition or the bomber needed to deliver it. The penetrator is currently delivered by the B-2 stealth bomber. By Monday afternoon, Trump warned ominously on social media, “Everyone should immediately evacuate Tehran!” Shortly after that, Trump decided to leave the summit and skip a series of Tuesday meetings that would address the ongoing war in Ukraine and global trade issues.
As Trump posed for a picture Monday evening with the other G7 leaders, he said simply, “I have to be back, very important.”
Canadian Prime Minister Mark Carney, the host, said, “I am very grateful for the president’s presence and I fully understand.”
Crises abound
THE sudden departure only heightened the drama of a world that seems on verge of several firestorms. Trump already has hit several dozen nations with severe tariffs that risk a global economic slowdown. There has been little progress on settling the wars in Ukraine and Gaza. But in a deeper sense, Trump saw a better path in the United States taking solitary action, rather than in building a consensus with the other G7 nations of Canada, France, Germany, Italy, Japan and the United Kingdom.
British Prime Minister Keir Starmer, French President Emmanuel Macron, Italian Premier Giorgia Meloni and German Chancellor Friedrich Merz held an hourlong informal meeting soon after arriving at the summit late Sunday to discuss the widening conflict in the Mideast, Starmer’s office said.
And Merz told reporters that Germany was planning to draw up a final communique proposal on the Israel-Iran conflict that will stress that “Iran must under no circumstances be allowed to acquire nuclear weapons-capable material.”
The European leaders wanted to help de-escalate the situation, rather than enflame it in ways that could spread through the Middle East in unpredictable ways. Trump, for his part, said Iran “is not winning this war. And they should talk and they should talk immediately before it’s too late.”
But by early Monday evening, as he planned to depart Kananaskis and the Canadian Rocky Mountains, Trump seemed willing to push back against his own supporters who believe the US should embrace a more isolationist approach to world affairs. It was a sign of the heightened military, political and economic stakes in a situation evolving faster than the summit could process.
“AMERICA FIRST means many GREAT things, including the fact that, IRAN CAN NOT HAVE A NUCLEAR WEAPON. MAKE AMERICA GREAT AGAIN!!!” Trump posted on Truth Social, his social media platform.
It’s unclear how much Trump values the perspective of other members of the G7, a group he immediately criticized while meeting with Carney. The US president said it was a mistake to remove Russia from the summit’s membership in 2014 and doing so had destabilized the world. He also suggested he was open to adding China to the G7.
High tension
AS the news media was escorted from the summit’s opening session, Carney could be heard as he turned to Trump and referenced how the US leader’s remarks about the Middle East, Russia and China had already drawn attention to the summit.
“Mr. President, I think you’ve answered a lot of questions already,” Carney said.
The German, UK, Japanese and Italian governments had each signaled a belief that a friendly relationship with Trump this year can help keep public drama at a minimum, after the US president in 2018 opposed a joint communique when the G7 summit was last held in Canada.
Going into the summit, there was no plan for a joint statement this year.
The G7 originated as a 1973 finance ministers’ meeting to address the oil crisis and evolved into a yearly summit meant to foster personal relationships among world leaders and address global problems. It briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its aggressive 2022 invasion of that nation.
Beyond Carney and Starmer, Trump had bilateral meetings or pull-aside conversations with Merz, Japanese Prime Minister Shigeru Ishiba and European Commission President Ursula von der Leyen.
He talked with Macron about “tariffs, the situation in the Near and Middle East, and the situation in Ukraine,” according to Macron spokesperson Jean-Noël Ladois.
On Tuesday, Trump had been scheduled before his departure to meet with Mexican President Claudia Sheinbaum and Ukrainian President Volodymyr Zelenskyy. Zelenskyy said one of the topics for discussion would be a “defense package” that Ukraine is ready to purchase from the US as part of the ongoing war with Russia, a package whose status might now be uncertain.
Tariff talk
THE US president has imposed 50% tariffs on steel and aluminum as well as 25% tariffs on autos. Trump is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period set by him would expire.
He announced with Starmer that they had signed a trade framework Monday that was previously announced in May. The trade framework included quotas to protect against some tariffs, but the 10% baseline would largely remain as the Trump administration is banking on tariff revenues to help cover the cost of its income tax cuts.
Canada and Mexico face separate tariffs of as much as 25% that Trump put into place under the auspices of stopping fentanyl smuggling, through some products are still protected under the 2020 US-Mexico-Canada Agreement signed during Trump’s first term.
Merz said of trade talks that “there will be no solution at this summit, but we could perhaps come closer to a solution in small steps.”
Carney’s office said after the Canadian premier met with Trump on trade that “the leaders agreed to pursue negotiations toward a deal within the coming 30 days.”
Boak reported from Calgary, Alberta. Associated Press writers Tara Copp in Washington and Kirsten Grieshaber in Berlin contributed to this report.
Now we are six: G7 leaders try to salvage their summit after Trump’s early departure
By Rob Gillies & Jill Lawless The Associated Press
KANANASKIS, Alberta—Six of the Group of Seven leaders are trying on the final day of their Tuesday to show the wealthy nations’ club still has the clout to shape world events despite the early departure of President Donald Trump.
Prime Minister Mark Carney and his counterparts from the UK, France, Germany, Italy and Japan will be joined by Ukrainian President Volodymyr Zelenskyy and NATO chief Mark Rutte to discuss Russia’s relentless war on its neighbor.
World leaders had gathered in Canada with the specific goal of helping to defuse a series of pressure points, only to be disrupted by a showdown over Iran’s nuclear program that could escalate in dangerous and uncontrollable ways. Israel launched an aerial bombardment campaign against Iran on Friday, and Iran has hit back with missiles and drones.
Trump left the summit in the Canadian Rocky Mountain resort of Kananaskis a day early late Monday, saying: “I have to be back, very important.” It came as conflict between Israel and Iran intensifies and the US leader declared that Tehran should be evacuated “immediately”—while also
expressing optimism about a deal to stop the violence.
Before leaving, Trump joined the other leaders in issuing a statement saying Iran “can never have a nuclear weapon” and calling for a “de-escalation of hostilities in the Middle East, including a ceasefire in Gaza.” Getting unanimity—even on a short and broadly worded statement—was a modest measure of success for the group.
At the summit, Trump warned that Tehran needs to curb its nuclear program before it’s “too late.” He said Iranian leaders would “like to talk” but they had already had 60 days to reach an agreement on their nuclear ambitions and failed to do so before the Israeli aerial assault began. “They have to make a deal,” he said.
Asked what it would take for the US to get involved in the conflict militarily, Trump said Monday morning, “I don’t want to talk about that.”
But by Monday afternoon, Trump warned ominously on social media, “Everyone should immediately evacuate Tehran!” Shortly after that, Trump decided to leave the summit and skip a series of Tuesday meetings that would address the war in Ukraine and trade issues.
The sudden departure only heightened the drama of a world that seems on verge
of several firestorms. Trump already has imposed severe tariffs on multiple nations that risk a global economic slowdown. There has been little progress on settling the wars in Ukraine and Gaza.
Trump’s stance on Ukraine puts him fundamentally at odds with the other G7 leaders, who back Ukraine and are clear that Russia is the aggressor in the war.
The US president on Monday suggested there would have been no war if G7 members hadn’t expelled Putin from the organization in 2014 for annexing Crimea.
Trump on Monday demurred when asked if he supported Russia, saying “I only care about saving lives.”
With talks on ending the war at an impasse, Starmer said Britain and other G7 members were slapping new tariffs on Russia in a bid to get it to the ceasefire negotiating table. Ukraine’s President Volodymyr Zelenskyy is due to attend the summit Tuesday at Carney’s invitation, along with other leaders including Indian Prime Minister Narendra Modi and NATO chief Mark Rutte.
Trump declined to join in the sanctions on Russia, saying he would wait until Europe did so first.
“When I sanction a country that costs the US a lot of money, a tremendous amount
of money,” he said.
Trump had been scheduled before his departure to meet with Zelenskyy and with Mexican President Claudia Sheinbaum. On the Middle East, Merz told reporters that Germany was planning to draw up a final communique proposal on the IsraelIran conflict that will stress that “Iran must under no circumstances be allowed to acquire nuclear weapons-capable material.”
Trump also seemed to put a greater priority on addressing his grievances with other nations’ trade policies than on collaboration with G7 allies. The US president has imposed 50% tariffs on steel and aluminum as well as 25% tariffs on autos. Trump is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period set by him would expire. He announced with Starmer that they had signed a trade framework Monday that was previously announced in May, with Trump saying that British trade was “very well protected’ because “I like them, that’s why. That’s their ultimate protection.”
The Associated Press writers Will Weissert in Banff, Alberta, and Josh Boak in Calgary, Alberta, contributed to this story.
Xi’s Kazakhstan visit signals China’s expanding influence; lessons for PHL
By Wes Cabangon
STANA, KAZAKHSTAN—Chinese
APresident Xi Jinping met with Kazakh President Kassym-Jomart Tokayev on June 16, strengthening bilateral ties through a wide-ranging set of agreements ahead of the second China-Central Asia Summit held in Astana. The visit marks a significant diplomatic push by Beijing to deepen its foothold in Central Asia, with broader implications for China’s neighbors, including the Philippines.
Xi arrived to a formal ceremony, escorted by fighter jets and greeted on the tarmac by Tokayev himself— underscoring the importance of the visit.
The two leaders signed 24 cooperation agreements spanning critical sectors such as infrastructure, customs, nuclear innovation, agriculture, e-commerce, and tourism. Notably, the deals also covered enhanced cooperation in law enforcement and defense, with both sides pledging to combat terrorism, separatism, and extremism.
“China supports Kazakhstan in safeguarding its independence, sovereignty and territorial integrity,” Xi said, according to Chinese state media outlet Xinhua. Tokayev, in turn, emphasized the “eternal strategic partnership” between the two countries.
The meeting came ahead of the ChinaCentral Asia Summit, held on June 17 in Astana. Xi joined leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, promoting what he called a “China-Central Asia community with a shared future.” In his keynote speech, Xi called for deepening Belt and Road cooperation, upgrading ports and railways, and jointly resisting protectionism in global trade.
The summit also reflected China’s growing influence in a region traditionally under Russian sway. According to recent data, trade between China and Central Asian countries reached nearly $95 billion in 2024, with Kazakhstan accounting for a substantial portion. A new rail corridor connecting western China to Europe via Kazakhstan, launched earlier this year, highlights the infrastructure ambitions behind China’s engagement.
What this means for the Philippines
ALTHOUGH geographically distant, the Philippines shares key development interests with Kazakhstan and its Central Asian neighbors—especially in the areas of infrastructure, trade, and regional diplomacy.
Like Kazakhstan, the Philippines has sought Chinese funding for infrastructure under programs aligned with the Belt
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June 18, 2025
US and UK announce a trade deal, but steel imports are still being negotiated
By Jill Lawless & Will Weissert
The Associated Press
Alberta—US
ANANASKIS,
KPresident Donald Trump
and British Prime Minister Keir Starmer said Monday that they had signed a trade deal that will slash tariffs on U.K. auto and aerospace industry imports—but they are still discussing how to handle steel production.
The pair spoke to reporters at the Group of Seven summit in the Canadian Rockies, with Trump brandishing the pages of what he said was a long-awaited agreement. The rollout was anything but smooth, however, as Trump dropped the papers and at first said his administration had reached an agreement with the European Union when he meant the United Kingdom.
The president nonetheless
insisted the pact is “a fair deal for both” and would “produce a lot of jobs, a lot of income.”
“We just signed it,” Trump said, “and it’s done.”
Starmer said it meant “a very good day for both our countries, a real sign of strength.”
Reaching an agreement is significant as Trump has threatened much of the world with steep import tariffs that have unsettled markets and raised the possibility of a global trade war.
He has since backed off on many of his proposed levies but also continued to suggest that administration officials were furiously negotiating new trade pacts with dozens of countries—even as few have actually materialized.
Trump said “the UK is very well protected,” from tariffs. “You know why? Because I like them.”
The signing of the deal at the
G7 followed Trump and Starmer’s announcement in May that they’d reached a framework for a trade pact that would slash US import taxes on British cars, steel and aluminum in return for greater access to the British market for US products, including beef and ethanol.
But Monday’s agreement fully covers only British cars and aerospace materials, with more work to come on steel.
The British government said the new agreement removes US tariffs on UK aerospace products, exempting Britain from a 10% levy the Trump White House has sought to impose on all other countries—a boost to British firms, including engine-maker Rolls-Royce.
It also sets the tax on British autos at 10% from the end of the month, down from the current 27.5%, up to a quota of 100,000 vehicles a year.
UK Business and Trade Secretary Jonathan Reynolds said the deal protects “jobs and livelihoods in some of our most vital sectors.” Mike Hawes, chief
and Road Initiative. These include port development, railways, and bridges under the Marcos administration’s “Build Better More” program. While these initiatives hold economic promise, they also demand strategic vigilance.
Xi’s emphasis on regional connectivity and joint development projects is particularly relevant as the Philippines explores similar economic corridors and digital infrastructure upgrades. The Kazakh model—leveraging Chinese capital for large-scale logistics while attempting to maintain sovereignty— offers useful parallels.
At the same time, the Kazakhstan visit reflects a broader strategic play by China to assert its leadership across
executive of Britain’s Society of Motor Manufacturers and Traders, said it was “great news for the UK automotive industry.”
But there was no final agreement to cut the tax on British steel to zero as originally foreseen— seen as vital to preserving the UK’s beleaguered steel industry.
Britain’s steel output has fallen 80% since the late 1960s due to high costs and the rapid growth of cheaper Chinese production.
Monday’s agreement fleshes out the terms of the framework deal announced in May. That framework didn’t immediately take effect, leaving British businesses uncertain about whether the U.K. could be exposed to any surprise hikes from Trump.
British businesses, and the UK. government, were then blindsided earlier this month when Trump doubled metals tariffs on countries around the world to 50%. He later clarified the level would remain at 25% for the UK.
After the two leaders spoke, the White House released a statement seeking to clarify matters, saying that with respect to
steel and aluminum, Commerce Secretary Howard Lutnick will “determine a quota of products that can enter the United States without being subject” to previous tariffs imposed by the Trump administration.
The British government said Monday that the plan was still for “0% tariffs on core steel products as agreed.”
Trump’s executive order authorizing the deal contained several references to security of supply chains, reflecting the US administration’s concerns about China. It said the UK “committed to working to meet American requirements on the security of the supply chains of steel and aluminum products intended for export to the United States.”
There also was no final deal on pharmaceuticals, where “work will continue,” the UK said.
The deal signed Monday also confirms that American farmers can export 13,000 metric tons (29 million pounds) of beef to the UK each year, and vice versa—though a British ban on hormone-treated beef remains in place.
Asia through soft power and economic diplomacy. For Southeast Asian nations like the Philippines, it reinforces the need to balance economic cooperation with China against national interest and regional security, particularly amid tensions in the West Philippine Sea.
Indonesia’s coal industry faces urgent call to diversify as China and India cut imports
By Aniruddha Ghosal The Associated Press
HANOI, Vietnam—Indonesia’s coal industry is facing mounting pressure and should diversify as China and India, its biggest customers, cut back on imports of the heavily polluting fossil fuel, according to a report from a Jakarta-based energy thinktank, Energy Shift. The report released Tuesday says that the industry, which accounts for about 3.6% of Indonesia’s economic activity and employs tens of thousands of people, needs to
A broader context
XI’S Central Asian outreach mirrors China’s diplomatic messaging in other regions: infrastructure-driven partnerships framed around mutual development and regional stability. For Manila, watching how other developing nations navigate these engagements is essential in shaping its own strategy.
As the Philippines deepens its presence in regional forums and multilateral economic initiatives, Xi’s Astana visit serves as a reminder of the shifting dynamics in Asia—and the importance of maintaining strategic autonomy while engaging powerful partners.
Wes Cabangon is currently based in Beijing, covering regional diplomacy, infrastructure, and cross-border cooperation under the 2025 China International Press Communication Center (CIPCC) program.
to 183.42 million metric tons from April to December 2024, down from 200.19 million metric tons in the same period a year earlier, government data shows. The drop is part of India’s push to reduce import dependence by ramping up domestic coal production. Imports for industries like cement, steel and aluminum that buy coal at market rates declined 12% while imports for thermal power plants fell even more sharply, down 29.8%. Indonesia’s coal exports fell to a three-year low in January-April of this year, a shift that may signal a longer-term decline, experts say.
“These are signs that Indonesian coal miners have to start taking seriously as well,” said Hazel Ilango of the Energy Shift Institute. There are other risks too. Most Indonesian coal companies are tightly controlled by insiders—owners, executives, and board members—who hold about 75% of company shares on average, according to the report. Regulations such as domestic supply rules and high royalties also limit profits, while access to global financing remains restricted. The private sector and investors are generally uninterested in long-term transition plans and are more focused on immediate profits, while government policies remain inconsistent, said Putra Adhiguna of the Energy Shift Institute. Experts say that the country’s coal policy is riddled with contradictions. It has pledged to cut emissions and transition to clean energy, but it continues to expand coal production and approve new plants. Domestic subsidies keep coal cheap, but abrupt export bans have disrupted global markets. Meanwhile, the state utility plans to retire coal plants early under a $20 billion transition deal—even as new ones tied to the industry are still being built. As major coal importers like China and India cut imports to boost their energy security, Indonesia’s coal sector needs to plan ahead, said Jordan Lee, an energy transition expert at the Tony Blair Institute for Global Change in Jakarta.
THE skyline of Astana, Kazakhstan. TAYLOR WIEDMAN/BLOOMBERG
At least 51 Palestinians killed while waiting for aid trucks in Gaza, health officials say
By Mohammad Jahjouh, Samy Magdy & Joseph Krauss
KThe Associated Press
HAN YOUNIS, Gaza Strip—
At least 51 Palestinians were killed and more than 200 wounded in the Gaza Strip while waiting for U.N. and commercial trucks to enter the territory with desperately needed food, according to Gaza’s Health Ministry and a local hospital.
Palestinian witnesses told The Associated Press that Israeli forces carried out an airstrike on a nearby home before opening fire toward the crowd in the southern city of Khan Younis. The military did not immediately respond to a request for comment.
It did not appear to be related to a new Israeli- and US-supported aid delivery network that rolled out last month and has been marred by controversy and violence.
‘Aren’t we human beings?’
YOUSEF NOFAL , an eyewitness, said he saw many people motionless and bleeding on the ground after Israeli forces opened fire.
“It was a massacre,” he said, adding that the soldiers continued firing on people as they fled from the area.
Mohammed Abu Qeshfa said he heard a loud explosion followed by heavy gunfire and tank shelling.
“I survived by a miracle,” he said. The dead and wounded were taken to the city’s Nasser Hospital, which confirmed the toll.
Samaher Meqdad was at the hospital looking for her two brothers and a nephew who had been in the crowd.
“We don’t want flour. We don’t want food. We don’t want anything,” she said. “Why did they fire at the young people? Why? Aren’t we human beings?”
Palestinians say Israeli forces have repeatedly opened fire on crowds trying to reach food distribution points run by a separate US and Israeli-backed aid group since the centers opened last month.
Local health officials say scores
have been killed and hundreds wounded.
In those instances, the Israeli military has acknowledged firing warning shots at people it said had approached its forces in a suspicious manner.
Desperation grows as rival aid systems can’t meet needs
ISRAEL says the new system operated by a private contractor, the Gaza Humanitarian Foundation, is designed to prevent Hamas from siphoning off aid to fund its militant activities.
U.N. agencies and major aid groups deny there is any major diversion of aid and have rejected the new system, saying it can’t meet the mounting needs in Gaza and that it violates humanitarian principles by allowing Israel to control who has access to aid.
Experts have warned of famine in the territory that is home to some 2 million Palestinians.
The U.N.-run network has delivered aid across Gaza throughout the 20-month Israel-Hamas war, but has faced major obstacles since Israel loosened a total blockade it had imposed from early March until mid-May. U.N. officials say Israeli military restrictions, a breakdown of law and order, and widespread looting make it difficult to deliver the aid that Israel has allowed in.
Israel’s military campaign since October 2023 has killed over 55,300 Palestinians, more than half of them women and children, according to Gaza’s Health Ministry. Its count doesn’t distinguish between civilians and combatants.
Israel launched its campaign aiming to destroy Hamas after the group’s October 7, 2023, attack on southern Israel, in which militants killed around 1,200 people, mostly civilians, and taking another 251 hostage. The militants still hold 53 hostages, fewer than half of them alive, after most of the rest were released in ceasefire agreements or other deals.
Magdy reported from Cairo and Krauss from Dubai, United Arab Emirates.
Russian drone and missile attack on Ukraine kills 15, injures 116
By Samya Kullab & Vasilisa Stepanenko The Associated Press
KYIV, Ukraine—A nighttime Russian missile and drone bombardment of Ukraine killed at least 15 people and injured 116 others while they slept in their homes, local officials said Tuesday, with the main barrage centering on the capital Kyiv.
Kyiv City Military Administration head Tymur Tkachenko said 14 people were killed and 99 others were injured as explosions echoed across the city for hours during the night. The bombardment demolished a nine-story residential building, destroying dozens of apartments. Emergency workers were at the scene to rescue people from under the rubble.
Russia fired more than 440 drones and 32 missiles at Ukraine, Ukrainian President Volodymyr Zelenskyy said, calling the Kyiv attack “one of the most terrifying strikes” on the capital. It was one of the deadliest attacks on Kyiv in recent months and came after two rounds of direct peace talks failed to make progress on ending the war, now in its fourth year.
Russia has repeatedly hit civilian areas of Ukraine with missiles and drones. The attacks have killed more than 12,000 Ukrainian civilians, according to the United Nations. Russia says it only attacks military targets.
Russia has in recent months stepped up its aerial attacks. It
launched almost 500 drones at Ukraine on June 10 in the biggest overnight drone bombardment of the war. Russia also pounded Kyiv on April 24, killing at least 12 people in its deadliest assault on the capital in eight months.
The intensified long-range attacks have coincided with a Russian summer offensive on eastern and northeastern sections of the roughly 1,000-kilometer (620mile) front line, where Ukraine is short-handed and needs more military support from its Western partners.
Uncertainty about US policy on the war has fueled doubts about how much help Kyiv can count on. Zelenskyy was set to meet with US President Donald Trump in Canada on Tuesday and press him for more help, but the White House announced Trump would return early to Washington on Monday night because of tensions in the Mideast.
Ukrainian forces have hit back with their own domestically produced long-range drones.
The Russian military said it downed 203 Ukrainian drones
over 10 Russian regions between Monday evening and Tuesday morning.
Russian civil aviation agency Rosaviatsia reported briefly halting flights overnight in and out of all four Moscow airports, as well as the airports in the cities of Kaluga, Tambov and Nizhny Novgorod, as a precaution.
The overnight Russian drone strikes, meanwhile, also struck the southern Ukrainian port city of Odesa, killing one person and injuring 17 others, according to Oleh Kiper, head of the regional administration.
Russian President Vladimir Putin “is doing this simply because he can afford to continue the war. He wants the war to go on. It is troubling when the powerful of this world turn a blind eye to it,” Zelenskyy said.
The almost nine-hour Russian attack delivered “direct hits on residential buildings,” the Kyiv City Military Administration said in a statement. “Rockets—from the upper floors to the basement,” it said.
A US citizen died in the attack after suffering shrapnel wounds, Interior Minister Ihor Klymenko told reporters.
Thirty apartments were destroyed in a single residential block after it was struck by a ballistic missile, Klymenko said.
“We have 27 locations that were attacked by the enemy. We currently have over 2,000 people working there, rescuers, police, municipal services and doctors,” he told reporters at the scene of one of the attacks.
Olena Lapyshniak, 49, was shaken from the strike that nearly leveled her apartment building. She heard a whistling sound and then two explosions that blew out her windows and doors.
“It’s horrible, it’s scary, in one moment there is no life,” she said. “There’s no military infrastructure here, nothing here, nothing. It’s horrible when people just die at night.” People were wounded in the city’s Sviatoshynskyi and Solomianskyi districts. Kyiv Mayor Vitalii Klitschko said fires broke out in two other city districts as a result of falling debris from drones shot down by Ukrainian air defenses. Moscow escalated attacks after Ukraine’s Security Service agency staged an audacious operation targeting war planes in air bases deep inside Russian territory.
FIREFIGHTERS put out the fire after a Russian missile hit a residential building during
Nes or sneakers or bibles aren’t your thing, the family business just added another product to show your support for the US president: mobile phones.
The Trump company announced Monday a new business, Trump Mobile, that will offer cell service in a licensing deal and sell gold phones by the summer. It’s the latest in a string of new ventures struck despite mounting ethical concerns that the US president is profiting off his position and could distort public policy for personal gain.
Eric Trump, the president’s son running The Trump Organization in his absence, suggested the pitch is patriotism, emphasizing that the phones will be built in the US and the phone service will maintain a call center in the country as well.
The announcement follows several real estate deals for towers and resorts in the Middle East, including a golf development in Qatar announced in April. A $1.5 billion partnership to build golf courses, hotels and real estate projects in Vietnam was approved last month, though the deal was in the works before Trump was elected.
Trump has already used the main regulatory agency that will oversee Trump Mobile in personal disputes.
The Federal Communications Commission has launched investigations of media outlets Trump dislikes and, in some cases, is personally suing. And the president himself last month criticized cell phone maker Apple, now a big business rival, because it planned to make most of its US iPhones in In -
dia, threatening to slap a 25% tariff on the devices.
Eric Trump said that consumers deserve a phone that aligns with their values.
“Hard-working Americans deserve a wireless service that’s affordable, reflects their values, and delivers reliable quality they can count on,” he said in a statement.
The Trump phone deal comes as a mandatory financial disclosure report just filed with the government shows the president has moved fast in the last year to profit off his celebrity, taking in $3 million in revenue from selling “Save America” coffee table books, $2.8 million from Trump watches and $2.5 million from Trump branded sneakers and fragrances.
The Trump Organization on Monday said the new, gold-colored phone available for $499 in August, called the T1 Phone, won’t be designed or made by Trump Mobile, but by another company.
The Trump Organization did not respond to repeated requests for more details on that and comment.
IDC analyst Francisco Jeronimo said the monthly fee of just under $50 is pricey, the appeal beyond the most ardent MAGA loyalists doubtful and the business difficult given that cell phones break down.
“It’s not like selling hats and tshirts. I’m not sure they have that all sorted of,” said Jeronimo, adding “I’m not sure they are bringing great value to the American people.”
Donald Trump ventured into the telecommunication industry once before, giving speeches and promoting a multi-level marketing company called ACN that was eventually sued
for fraud and misleading customers.
In the first term, Trump was blasted by conservative and liberal government ethics experts alike for opening his Washington hotel to lobbyists and diplomats and violating his company’s pledge to avoid even the appearance of a conflict between his private profit and the public interest.
The company is feeling more emboldened now in the second term.
The mobile service is partnering with existing cellular carriers with access to a 5G network, raising questions of how they will be treated by federal regulators now that they have partnered with his company.
The Trump Organization said those companies are America’s three biggest mobile network providers, an apparent reference to Verizon, AT&T and T-Mobile, the latter with a trademarked name that is very similar to Trump’s T1 Mobile.
The name given to the monthly service offer, The 47 Plan, and the monthly $47.45 monthly fee make reference to Trump’s two terms, the 45th and the 47th. The service will include unlimited calls, texts and data and free roadside assistance and telehealth services.
A mock-up of the planned phone on the company’s website shows Trump’s slogan “Make America Great” on the front and an etched American flag on the back.
By sticking to licensing, the Trump family is limiting its risk. Still, the new service faces big challenges if it hopes to sell beyond the president’s loyal MAGA fans.
The Trump company tried to tap into support among the middle class in the first term with two midpriced hotel chains. Called American Idea and Scion, and unveiled like the phone service Monday under a giant US flag in the Trump Tower atrium,
they flopped.
Despite taking in millions of dollars each year in various licensing deals and a string of new ventures, the Trump brand has taken a series of hits to its brand over the years.
During his first term, the Trump name was stripped off residential buildings and hotels in Toronto, Panama and Manhattan.
The Trump International Hotel in Washington, since sold, lost money even though the family opened its doors to businesses and governments trying to shape US policy.
The average condo in 11 Trumpbranded residential towers around the country underperformed the broader market during and immediately after Trump’s first term. More recently, the value of Trump condos in New York City fell in the past two years as similar properties rise in value, according to brokerage CityRealty.
The Trump Organization has had more success with some ventures launched in the first few months of his second term.
Trump Media & Technology Group, a Florida company that operates the Truth Social media platform, filed plans with security regulators Monday to launch an exchange-traded fund tied to the prices of two popular cryptocurrencies.
The ETF is part of the Trump family’s rapidly growing crypto empire, which includes a new stablecoin and launching and promoting memecoins.
The president’s most recent financial disclosure report reveals he made more than $57 million last year from World Liberty Financial, a crypto company he and his sons helped launch in September.
AP Business Writer Alan Suderman contributed to this story.
Danish military using robotic sailboats
for surveillance in Baltic and North seas
By James Brooks The Associated Press
KOGE MARINA, Denmark—From a distance they look almost like ordinary sailboats, their sails emblazoned with the red-and-white flag of Denmark. But these 10-meter (30-foot) -long vessels carry no crew and are designed for surveillance.
Four uncrewed robotic sailboats, known as “Voyagers,” have been put into service by Denmark’s armed forces for a three-month operational trial.
Built by Alameda, California-based company Saildrone, the vessels will patrol Danish and NATO waters in the Baltic and North Seas, where maritime tensions and suspected sabotage have escalated sharply since Russia’s full-scale invasion of Ukraine on Feb. 24, 2022.
Two of the Voyagers launched Monday from Koge Marina, about 40 kilometers (25 miles) south of the Danish capital, Copenhagen. Powered by wind and solar energy, these sea drones can operate autonomously for months at sea. Saildrone says the vessels carry advanced sensor suites—radar, infrared and optical cameras, sonar and acoustic monitoring. Their launch comes after two others already joined a NATO patrol on June 6. Saildrone founder and CEO Richard Jenkins compared the vessels to a “truck” that carries sensors and uses machine learning and artificial intelligence to give a “full picture of what’s above and below the surface” to about 20 to 30 miles (30 to 50 kilometers) in the open ocean.
He said that maritime threats like damage to undersea cables, illegal fishing and the smuggling of people, weapons and drugs are going undetected simply because “no one’s observing it.”
Saildrone, he said, is “going to places... where we previously didn’t have eyes and ears.”
The Danish Defense Ministry says the trial is aimed at boosting surveillance capacity in under-monitored waters, especially around critical undersea infrastructure such as fiber-optic cables and power lines.
“The security situation in the Baltic is tense,” said Lt. Gen. Kim Jørgensen, the
director of Danish National Armaments at the ministry. “They’re going to cruise Danish waters, and then later they’re going to join up with the two that are on (the) NATO exercise. And then they’ll move from area to area within the Danish waters.”
The trial comes as NATO confronts a wave of damage to maritime infrastructure— including the 2022 Nord Stream pipeline explosions and the rupture of at least 11 undersea cables since late 2023. The most recent incident, in January, severed a fiberoptic link between Latvia and Sweden’s Gotland Island.
The trial also unfolds against a backdrop of trans-Atlantic friction—with US President Donald Trump’s administration threatening to seize Greenland, a semiautonomous territory belonging to Denmark, a NATO member. Trump has said he wouldn’t rule out military force to take Greenland.
Jenkins, the founder of Saildrone, noted that his company had already planned to open its operation in Denmark before Trump was reelected. He didn’t want to comment on the Greenland matter, insisting the company isn’t political.
Some of the maritime disruptions have been blamed on Russia’s so-called shadow fleet—aging oil tankers operating under opaque ownership to avoid sanctions. One such vessel, the Eagle S, was seized by Finnish police in December for allegedly damaging a power cable between Finland and Estonia with its anchor.
Western officials accuse Russia of behind a string of hybrid war attacks on land and at sea.
Amid these concerns, NATO is moving to build a layered maritime surveillance system combining uncrewed surface vehicles like the Voyagers with traditional naval ships, satellites and seabed sensors.
“The challenge is that you basically need to be on the water all the time, and it’s humongously expensive,” said Peter Viggo Jakobsen of the Royal Danish Defense College. “It’s simply too expensive for us to have a warship trailing every single Russian ship, be it a warship or a civilian freighter of some kind.”
“We’re trying to put together a layered system that will enable us to keep constant monitoring of potential threats, but at a much cheaper level than before,” he added.
AFTER being bypassed by the Commission on Appointments (CA) before Congress adjourned last week, Presidential Communication Office (PCO) Secretary Jay Ruiz and Department of Information and Communications Technology (DICT) Secretary Henry R. Aguda were reappointed by President Ferdinand Marcos.
In a Viber message to Palace reporters, Executive Secretary Lucas P. Bersamin confirmed Ruiz was reappointed as acting PCO secretary.
This was confirmed by Palace Press Officer Claire Castro in a press briefing last Tuesday. She said the President also retained Aguda as head of DICT. Both Ruiz and Aguda were unable to secure the nod of the CA on June 3 due to “lack of time.”
Their reappointment by the President will allow them to be considered for confirmation by the CA in the 20th Congress.
Castro said there are currently no new changes in the Cabinet since Marcos ordered all his Cabinet members to submit their
courtesy resignation last month to undergo performance assessment. The initiative aims to remove underperforming and corrupt members of the Cabinet.
Marcos said those in the undersecretary positions will also go through a performance review. However, Castro explained they were not required by the President to submit their courtesy resignations, while they underwent the review. She confirmed PCO Undersecretary Analisa “Ana” Puod voluntarily resigned from her post citing personal reasons rather than the performance assessment.
Another 17 officials of PCO also had their courtesy resignations, which they submitted prior to the performance assessment. Castro said the President may consider appointing replacements for the said officials
“We are not sure about that. If there is a vacancy and there is a need a good person [as replacement] in their position, it should definitely be filled,” Castro said in Filipino. Samuel P. Medenilla
PNP Chief Torre delivers on quick response promise, impresses Marcos
WITHIN two weeks after his promotion, Philippine National Police (PNP)
Chief Nicolas D. Torre III has already successfully demonstrated to President Ferdinand Marcos their prompt response to emergency calls, according to Malacañang.
Last Monday, Torre met with the Chief Executive at the Palace to discuss several security matters, including the implementation of the five-minute police response time.
Marcos was able to witness the enhanced response time from cops through a tablet presented by Torre, which showed live footage from their body cameras worn while patrolling the streets.
“The President observed that police personnel are now capable of responding to emergency calls made through the 911 hotline within five minutes—or even as quickly as three minutes in some cases,” the Presidential Communications Office (PCO) said in a statement last Tuesday.
BSP intensifies fight against fraud, social media scams
TBy Cai U. Ordinario @caiordinario
HE Bangko Sentral ng Pilipi -
nas (BSP) has taken the fight against scams and fraud to social media and other digital spaces through its “refreshed” Protect Your Money (PYM) campaign.
The PYM, which was initially launched in 2013, is now “sharper” and “more digital” compared to 12 years ago. BSP Deputy Governor Chuchi G. Fonacier said scams are no longer hiding behind fake investments.
Fonacier said scammers and fraudsters are now on social media, emails, and have also been passed on to individuals from people they trust.
“The threats are more digital, more personal, and more sophisticated. That’s why the BSP together with the
Insurance Commission, the Securities and Exchange Commission, and the Philippine Deposit Insurance Corporation continues to push for stronger collaboration through the Financial Sector Forum,” Fonacier said.
“We are proud to support the refreshed PYM campaign, now sharper, more digital, and more relevant than ever. It unites our efforts to educate, empower, and protect every Filipino,” she added.
BSP Deputy Governor Bernadette Romulo-Puyat said the revitalized PYM is a response to the “rapidly evolving digital financial landscape.”
Romulo-Puyat said the messages of the PYM are intended to reach those who need them most, our retirees, OFWs, and underserved communities.
She added that materials will reach the public through digital platforms,
House prosecutor slams
via social media, reels, SMS blasts, ATM screens, and more, to ensure widespread access and engagement.
“While technology has opened doors to a wide range of digital financial services, it has also left windows open to risk. Scams have become more sophisticated and harder to detect,” Romulo-Puyat said.
“We must act swiftly and decisively to push back against fraud. We must come together to equip the public with the right information,” she added.
Earlier, complaints received by the BSP involving unauthorized transactions have reached P3.37 billion in the past two years.
Unauthorized transaction complaints make up only 13 percent of complaints received and processed by the BSP Consumer Assistance Mechanism (Cam).
Senator Dela Rosa for sharing fake AI video to undermine VP Sara’s impeachment
By Jovee Marie N. Dela Cruz @joveemarie
Torre initially committed to reduce police response time during the first three months of his term to three minutes.
This was in response to Marcos’ orders for PNP to make the public feel more safe through better police visibility.
Torre sacked 8 police chiefs after they failed to comply with the five-minute response time.
While at the Palace, Torre also informed the President about the implementation of their Oplan Balik-Eskwela 2025-2026, which includes the deployment of 37,000 police the creation of 5,000 police assistance desk to secure public schools during the opening of classes last Monday. He also discussed their intensified campaign against illegal drugs and militant groups, which recruit in schools.
Marcos instructed Torre to collaborate with Commission on Human Rights (CHR) to make sure the rights of Filipinos will be protected. Samuel P. Medenilla
No truth to Chinese patrols claims during PHL-Japan MCA—Navy
THE Philippine Navy (PN) on Tuesday vehemently denied claims made by China that it conducted “coordinated air and maritime patrols” as the Philippines and Japan were conducting second bilateral maritime cooperative activity (MCA) in the West Philippine Sea (WPS) last June 14.
“On the alleged coordinated air and maritime patrols in the past few days conducted by the [People’s Liberation Army Navy] Southern Theater Command.
The PN did not monitor any coordinated air and maritime patrols in our maritime zones conducted by the Southern Theater Command. What we have monitored is the continued illegal presence in our maritime zones of the PLAN and the Chinese Coast Guard [CCG], specifically in Bajo de Masinloc, Pag-asa, Sabina, and Ayungin Shoals,” PN spokesperson for the WPS Rear Admiral Roy Vincent Trinidad said.
DAVAO CITY —The Moro Islamic Liberation Front (MILF) has called on the national government to reject all calls to postpone again the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) parliamentary elections scheduled for October 13. MILF Vice Chairman Mohagher Iqbal issued the official statement of the MILF on Friday and on behalf of Chairman Al Haj Murad Ebrahim and the Central Committee, when he appealed to the national government, Congress, the Commission on Elections (Comelec), and other stakeholders “to resist any proposals that may lead to another postponement of the region’s first-ever parliamentary elections.”
“The MILF strongly appeals to our national leaders to refrain from entertaining any proposal that will again postpone this historic election,” Iqbal said. He said the BARMM election was already postponed twice, first from May 2022 to May 2025 under Republic Act 11593 during President Rodrigo Duterte’s administration, and again to October 2025 through Republic Act 12123, signed by President Ferdinand Marcos Jr. in February this year. The second postponement was raised by BARMM of -
He added that reports like these are attempts at misinformation, disinformation, and malinformation to shape the internal and domestic narrative of the Chinese Communist Party’s illegal claims in the Philippine maritime domain. The bilateral MCA between Philippines and Japan took place at the west of Zambales up to the northwest of Occidental Mindoro.
“During the conduct of the bilateral cooperative activity between the PN and the Japanese Maritime Self-Defense Force, there was a PLAN warship that was tailing the formation that also launched and recovered drones. Last 15 June, two PLAN warships and two CCG ships were monitored in the vicinity of Bajo de Masinloc. On the 15th, two CCG ships launched and recovered RHIBs in Ayungin Shoal and another PLAN warship was spotted in the vicinity of Sabina Shoal,” Trinidad said. Rex Anthony Naval
ficials to allow a little more time for the third transition period.
Iqbal said holding the elections is important “to establish a democratically elected Bangsamoro Parliament with a clear mandate from the people”.
“This is the essence of democracy and the MILF is ready to seek legal mandate through the sovereign will of the Bangsamoro people in a clean, fair, honest, and credible election,”he said. While no new bill has been filed in Congress seeking to postpone the elections to 2028, Iqbal raised concern over reports suggesting fresh efforts to delay the vote. He did not identify who made the suggestions to postpone the elections and when these suggestions were raised.
He urged lawmakers to publicly commit to maintaining the October 2025 schedule.
“The MILF, through the United Bangsamoro Justice Party, is prepared to participate in the democratic process and will respect the outcome, whether we win or lose,” he stated.
Iqbal concluded with a reminder of the delicate peace in the region, achieved through years of negotiation, urging all parties not to squander the progress made under the Bangsamoro peace process. Manuel T. Cayon
THE official spokesperson of the House prosecution panel has accused Senator Ronald “Bato” dela Rosa of spreading disinformation by sharing artificial intelligence-generated content aimed at discrediting the impeachment proceedings against Vice President Sara Duterte.
Atty. Antonio Audie Z. Bucoy, spokesperson for the House prosecution team, criticized Dela Rosa for circulating a manipulated AI video that falsely portrayed students opposing Duterte’s impeachment, calling it a deliberate act of deception.
“This is precisely why there are efforts to legislate against fake news. We also have groups like the Movement Against Disinformation, and one of their key concerns is fake media content—including AI-generated material,” Bucoy said. “If Sen.
Dela Rosa knew the video was fake, then he’s knowingly spreading a lie.”
The video, which Dela Rosa shared on social media, has been debunked by fact-checkers and media watchdogs as manipulated and misleading. Despite this, Dela Rosa defended the video’s message, saying he still believed in its sentiment, regardless of its authenticity.
But Bucoy said the source of the message is critical to its credibility. “The message doesn’t matter if the source is fake. A polluted source leads to a polluted message. It’s pure propaganda—and it only exposes political bias,” he said.
When asked about the senator’s apparent indifference to factual integrity, Bucoy was blunt in his response: “If he doesn’t care, then the people will judge him. Come the next election, he won’t get their vote. It’s political suicide.”
‘Fake news queen’
MEANWHILE, ACT Teachers Party-list Rep.
France Castro and Rep.-elect Antonio Tinio branded Duterte as the country’s reigning “Fake News Queen.”
The lawmakers denounced VP Duterte’s recent remarks suggesting that spreading AI-generated disinformation is acceptable as long as it isn’t done for profit.
“That’s a reckless and dangerous statement. She is essentially legitimizing fake news as part of public discourse,” Castro warned.
Tinio further pointed out that Duterte’s casual attitude toward lying raises serious concerns about her accountability, especially regarding the controversial P612.5 million in confidential funds she allegedly misused.
“If the Vice President can lie so casually about something as simple as family ties and even promote AI-generated disinformation, how can we trust her to tell the truth about how she spent hundreds of millions in public funds?” Tinio said.
Opening of 2025 classes generally peaceful - PNP
By Rex Anthony Naval
THE Philippine National Police (PNP)
on Tuesday said the nationwide opening of classes or “Balik Eskwela 2025” last June 16 was generally peaceful.
Earlier, the Department of Education (DepEd) said that around 27 million enrollees from preschool to senior high school took part in the official opening of School Year 2025-2026
“In support of President Ferdinand R. Marcos Jr.’s directive to ensure the safety and well-being of learners, the PNP carried out intensified police presence through the deployment of more than 37,000 personnel nationwide. These personnel were strategically stationed in and around school premises, transportation terminals, major roads, and other key locations to maintain public safety
and order during the school opening,” the PNP said in a statement.
As this developed, PNP chief Gen. Nicolas Torre III personally led the monitoring of security operations Monday morning.
“He conducted inspection visits to public schools in Quezon City, starting with Batasan High School followed by President Corazon Aquino Elementary School, both located along IBP Road in Barangay Batasan Hills.
During the visits, the Chief PNP observed the overall readiness of police personnel on the ground and expressed satisfaction with their performance and the cooperation of local stakeholders,” the PNP added.
Also, Torre said the safe return of our students to their schools is a shared victory of every police officer, teacher, parent, and member of the government.
“This morning, I personally visited
key public schools in Quezon City and witnessed the discipline, cooperation, and preparedness of everyone on the ground.
We remain fully committed to keeping our communities safe, especially for our children,” he stressed.
The PNP attributes the smooth and peaceful school opening to the close coordination with the DepEd, local government units, and other stakeholders.
Police presence will remain heightened throughout the opening week to sustain the orderly flow of students and to respond promptly to any safety concerns.
The PNP encourages the public to remain vigilant and proactive by reporting any suspicious activities or concerns to the nearest police station or through official communication platforms of the organization.
House prosecutor backs ex-chief justice, claims Senate committed ‘grave abuse’ in VP impeachment handling
THE House prosecution spokesperson on Tuesday publicly agreed with former Supreme Court Chief Justice Reynato Puno’s assertion that the Senate, under Senate President Francis Escudero, may have committed grave abuse of discretion in its handling of the impeachment complaint against Vice President Sara Duterte.
House prosecution spokesperson Antonio Audie Z. Bucoy criticized Escudero’s actions and rulings as the presiding officer of the impeachment court, stating they are “not in the Constitution.”
Specifically, Bucoy took issue with the Senate’s decision to remand the Articles of Impeachment back to the House of Representatives. He clarified that “remand” is a term applicable to ordinary court cases, not impeachment proceedings, which lack such a provision in the Constitution.
“I agree with what Chief Justice Renato Puno said because the actions and rulings of Senate President Chiz Escudero as the presiding officer of the impeachment court are not in the Constitution,” Bucoy said.
“Remand means the lower court should
reconsider,” Bucoy explained. “There is no such word as ‘remand’ in impeachment. Remand is not appropriate in impeachment. Remand is for ordinary cases in ordinary courts but never in impeachment courts.”
The acts of the Senate are now under scrutiny not just by the Philippine Constitution Association (Philconsa), which Puno chairs, but also by law deans, professors, and other constitutional experts.
Escudero had earlier downplayed the findings of Philconsa, citing Speaker Ferdinand Martin G. Romualdez’s role as the group’s president.
“That’s not fair. Because you judge the position based on the merit of what was said. It’s not the personality,” Bucoy said.
Bucoy clarified that Romualdez does not influence former Puno’s independent legal opinions, nor can Puno influence the Speaker.
“Do you think, Speaker, his position [as] president of Philconsa is different? Do you think Speaker Romualdez can influence the mindset of former Chief Justice Puno?
I don’t think so,” Bucoy said. “In much the same way that Chief Justice Puno will not
The complaints received by BSP have reached a total of 135,369 complaints between 2022 and 2024. The highest was 70,112 total complaints recorded in 2024.
BSP Cam explained that unauthorized transaction complaints may include those alleged to be caused by phishing in all its forms such as voice phishing, SMS phishing, fake QR code phishing.
These unauthorized transactions also include other social engineering schemes, and alleged fraud perpetrated by employees and/or other clients of the BSP Supervised Institutions (BSIs).
Between 2022 and 2024, the top recipients of complaints about unauthorized transactions are the universal and commercial banks followed by the non-bank e-money issuers.
and cannot influence the mindset of the Speaker of the House.”
According to Bucoy, the positions being put forward by legal experts and organizations like Philconsa should be evaluated based on the substance of their arguments, not the personalities behind them.
Shame ALSO, Bucoy expressed his belief that the current Senate’s conduct in the impeachment case would be a source of shame for revered past statesmen like former Senators Jose Diokno, Lorenzo Tañada, and Joker Arroyo.
He lamented what he perceives as a decline in the quality of Senate discourse, particularly concerning the impeachment of Duterte, citing the decision to remand the Articles of Impeachment and entertain a motion to dismiss.
“They will be ashamed. They will be ashamed of what the current Senate is doing. Calling a spade a spade,” Bucoy said when asked about the legacy of nationalist senators he once looked up to.
Jovee Marie N. Dela Cruz
By Bless Aubrey Ogerio
THE GOVERNMENT assured a stable rice supply for its P20-per-kilo rice program through the end of the year and even into 2026, with over 420,000 metric tons of rice now under the National Food Authority’s (NFA) stockpile. Department of Agriculture (DA) Assistant Secretary Arnel de Mesa said the “Benteng Bigas Mayroon Na” initiative, which is part of Phase 1 of the P20 rice program, has seen early success.
“Actually, [at the] start, the NFA had around 320,000 metric tons in supply,” De Mesa said in Filipino at a media forum on Monday. “Because of the NFA’s prompt action… it rose to over 420,000 metric tons, equivalent to more than eight million bags available to us.”
He also reported that as of mid-June, the program is active in over 90 areas nationwide, with more than 100 additional locations scheduled for rollout in July. Since the start of Phase 1, over 441,000 metric tons of rice have been distributed through the program, benefitting 52,000 households in regions including Metro Manila, Ilocos region, Calabarzon, Mimaropa and parts of the Visayas.
The DA also launched a special rollout for minimum wage earners in collaboration with the Department of Labor and Employment. On June 13, during a nationwide launch, 99 companies participated and more than 16,000 minimum wage earners received access to the P20 per kilo rice.
“This group is part of the 120,000 wage earners we aim to initially reach in the coming days,” de Mesa said. To maintain the program beyond next year, the DA is seeking a P10-billion budget for 2026. This is double its current P5-billion allocation sourced from the Office of the President’s contingency fund. (See: https://businessmirror. com.ph/2025/06/13/da-dole-roll-out%e2%82%b120-rice-scheme-for-pinoyminimum-wage-earners/)
Price cuts expected DE MESA also announced additional price drops under the “Rice for All” program starting July 1, in line with directives from Agriculture secretary Francisco Tiu Laurel Jr. For imported premium rice with five percent broken grains, prices will be reduced from P45 to P43 per kilo.
Other varieties, such as 25 percent broken and 100 percent broken grains, currently priced at P33, will see a reduction of P1 to P2 per kilo.
“The P20 rice, of course, will stay at its current price, but the broader drops across categories are also significant,” de Mesa explained.
Data from the Philippine Statistics Authority has shown rice prices trending downward since earlier this year. In addition, the agency mentioned that some market prices are now at P30 to P35 per kilo. It also expects these declines to continue through December. President Ferdinand Marcos has instructed the DA to expand and sustain the P20-per-kilo rice program
Global conflicts, local hunger: Our recurring food security challenge
RUSSIA attacked Ukraine on February 24, 2022, more than two weeks after the campaign for the elections kicked off. Candidates for the May elections that year were well aware of this development in Eastern Europe. Aside from the presidency and vice presidency, the posts contested in the elections in 2022 included 300 lower House seats and some 18,000 local positions, including city mayors and provincial governors.
The war in Eastern Europe had an immediate impact on the commodities market, given the disruption it caused not only on the actual products being shipped, but also in the shipping routes. Analysts and even farmers themselves had issued warnings of the melee’s impact on local food prices. (See, “Farm sector tracks Ukraine fallout,” in the BusinessMirror , February 28, 2022). Because apart from African swine fever that ravaged hog farms, the face-off between Russia and Ukraine was expected to result in higher prices of feeds.
Little regard was given by national candidates to geopolitics at the time and how it would affect domestic food supply, but this was expected because the situation was fluid and it was possible that the scuffle in Eastern Europe would end in a matter of months. Three years after, however, nations that depend on other countries for their staple food, like the Philippines, continue to reel from the impact of the war. And they would now have to grapple with tensions in the Middle East, which could result in higher oil and fertilizer prices.
This is not the first time in the country’s history that it faced global economic headwinds. In the 1970s, production cuts and tensions in the Middle East plunged many oil-importing countries, including the Philippines, into an energy crisis. The Iraqi invasion of Kuwait in 1990 also caused a spike in oil prices, while the 1997 Asian financial crisis resulted in the depreciation of the peso and accelerated inflation.
These developments as well as weather phenomena, such as El Niño and stronger storms, should have served as impetus for policymakers to put in place a viable plan that would secure the country’s food supply during crises. While the Philippines could not produce oil, it has the capacity to churn out food items that its population needs. The available lands may be shrinking as development resulted in the rise of malls and subdivisions. (See, “Land conversion will widen PHL rice deficit,” in the BusinessMirror , June 16, 2025), but there is available technology to increase farm productivity, and legal remedies could be tapped to stop land conversion.
The economic preparedness being pitched by a lawmaker should have been done long ago, even before the face-off between Iran and Israel happened. (See, “PHL must be ready for worst spillover effect of Israel-Iran conflict—lawmaker,” in the BusinessMirror , June 16, 2025). However, proactive policymaking can only be practiced by leaders who have the foresight and political will to implement the crucial measures that will enable the Philippines to cope with the challenges of the 21st century and beyond.
Stronger economic department
ITHE BUILDER
NFRASTRUCTURE projects in the Philippines often face delays due to a number of issues, including prolonged permitting processes, right-of-way problems, budget shortfalls and opposition from some local government units and non-governmental organizations.
These consequences result in cost overruns and lost opportunities for the government.
They also highlight the critical need for a centralized body to coordinate planning and execution. A major challenge stems from the lack of coordination, with complex permitting and approval procedures involving numerous regulatory bodies and the necessity of securing approvals from local government units where the projects are located.
The often-protracted right-ofway acquisition process, which can take months or even years to resolve, exacerbates the delays, particularly when a court action is involved.
In response to these challenges, President Ferdinand Marcos Jr. signed Republic Act No. 12145, also known as the Economy, Planning and Development Act.
The landmark law establishes the Department of Economy, Planning and Development (DEPDev) as the government’s principal agency for economic policy and development planning.
DEPDev’s mandate is enhanced, with expanded authority, increased fiscal and organizational capacity and institutional independence to spearhead the formulation, coordi-
nation and monitoring of national economic and development policies.
The department, formerly known as the National Economic and Development Authority (Neda), is envisioned to play a pivotal role in infrastructure development, with its functions designed to ensure that projects are not only well-planned but also effectively implemented, sustainable and aligned with national development goals.
DEPDev’s seal of approval designates a project as a government priority. This means comprehensive feasibility studies have confirmed the project’s economic viability and potential for strong economic returns, thereby warranting the support of other government agencies.
DEPDev aims to bridge persistent infrastructure gaps through the development of a comprehensive, long-term master plan. This strategic approach will “future-proof” infrastructure initiatives, bolstering their resilience against political transitions, global changes and climate shocks.
In its capacity as a planning, coordinating and oversight authority for infrastructure development, DEPDev will lead the coordination of the country’s long-term development
By Josh Wingrove & Alberto Nardelli
THE US is blocking a proposed Group of Seven statement urging Israel and Iran to de-escalate their conflict, people familiar with the matter said, highlighting the distance that’s opened up between President Donald Trump and other members of the bloc.
Trump has no interest in such a message from G-7 leaders, who are meeting for a summit in Alberta, Canada, and instead wants to keep up pressure on Iran to halt its efforts to obtain a nuclear weapon, one of the people said. Another person didn’t rule out the possibility the president might agree to an amended statement later on.
The standoff was emblematic of
the challenges facing the Group of Seven, founded 50 years ago to boost cooperation among the world’s most powerful democracies. The annual summit of leaders, traditionally a moment to demonstrate unity, has become further evidence of how Trump has moved US policy away from close cooperation with of its putative allies.
Fearful of further discord, Prime
framework and strategy.
DEPDev is responsible for approving and recommending national infrastructure development strategies, policies, programs and projects to the President and the Cabinet.
The Neda Board, now the Economy and Development Council under DEPDev, is responsible for approving large-scale government projects, including major infrastructure initiatives.
The department’s mandate extends beyond physical infrastructure. It aims to drive economic progress that is inclusive and sustainable, ensuring that infrastructure projects contribute to job creation, regional equality and socio-economic betterment.
Before its reorganization, Neda carried out its policy advisory and coordination functions under Executive Order No. 230 (s.1987) as a technical and research body to the Neda Board, chaired by the President.
The newly-established DEPDev is set to play a pivotal role in shaping the Philippines’ economic future. It actively participates in over 100 interagency bodies and councils, and serves as the secretariat for key policymaking groups, such as the Neda Board, the Regional Development Councils, the Legislative-Executive Development Advisory Council, the National Innovation Council and the Economic Development Group.
As a full-fledged executive department, DEPDev is now better positioned to ensure policy coherence, continuity and long-term strategic planning. Per Secretary Arsenio Balisacan, DEPDev will ensure development strategies are not only forward-looking but also resilient and inclusive, effectively bridging past and future policies to secure a stable and upward development path for all Filipinos.
The creation of DEPDev through RA 12145 fulfills Section 9 of Article XII of the 1987 Philippine Constitution. The constitutional provision authorizes Congress to establish an independent economic and planning agency, headed by the President, and tasked with implementing continuous, integrated and coordinated programs and policies for national development.
DEPDev’s expanded mandate now includes several crucial responsibilities. It is tasked with aligning national and regional development plans, ensuring they work in harmony. The agency will also integrate long-term strategies directly into the budgeting process, making sure that future goals are financially supported. DEPDev aims to strengthen planning and policymaking capacities across government, enhancing the skills and effectiveness of public servants in these areas.
It is also in charge of futures thinking and scenario planning to proactively anticipate and prepare for technological, economic and global shifts.
The expanded role strengthens the link between planning, budgeting and monitoring and evaluation (M&E). This mechanism introduces clear standards, guidelines and accountability measures. The goal is to ensure that public resources are channeled effectively toward highimpact, priority programs and projects, maximizing their benefit.
I firmly believe that the reorganization of Neda into DEPDev is an important step toward building stronger, better and sustainable infrastructure projects in the Philippines.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph
Minister Mark Carney, the event’s host, decided before it began not to seek a joint communique—a routine statement that generally declares shared principles for the seven countries on a broad range of topics.
Trump showed from the start of the event he had no interest in keeping quiet, telling reporters that Russia never should have been expelled from the group, as it was in 2014 over its invasion of Crimea. He blamed former US President Barack Obama and Carney’s predecessor, Justin Trudeau, even though Trudeau wasn’t prime minister at the time.
“This was a big mistake—you wouldn’t have that war,” Trump said in reference to Russia’s invasion of Ukraine in 2022. “Putin speaks to me, he doesn’t speak to anybody else because he was insulted when he got thrown out of the G8,” he said of Russian President Vladimir Putin. Rather than confront Trump, other leaders pushed to cut deals with him individually, especially around trade. Some, like Japan and Canada, are seeking the removal of US tariffs. UK Prime Minister Keir Starmer and Trump signed to implement a trade deal to cut US tariffs on some British exports and raise UK quotas on some US agricultural products. And European Commission PresiSee “US,”
Mark Villar
Taiwan targets bloodbag production as China steps up pressure
By Cindy Wang and Yian Lee
TAIWAN aims to start producing its own blood bags—a key item for saving lives on the battlefield—adding to signs President Lai Ching-te is stepping up preparations for a potential conflict with China.
The Health Ministry has been working closely with other government agencies, including the National Security Council, to enhance Taiwan’s medical preparedness for emergencies, Deputy Health Minister Lin Ching-yi told Bloomberg News. Strengthening domestic production capacity for key medical supplies, including blood bags, is a part of the strategy, she said, as was ensuring that imports of medical supplies were secure.
“The Covid-19 pandemic and the war in Ukraine have underscored the risks of relying solely on foreign sources for essential medicines and medical equipment,” Lin said. Ukraine’s health-care resources have been strained during its fighting with Russia, leading to shortages of oxygen, medications and more.
Lai has made preparing the selfruled archipelago of 23 million people for a possible conflict with China a central part of his policymaking since he took office a little more than a year ago. Last year, he held the first meeting of a civil defense committee that discussed ways to make sure key energy facilities and critical infrastructure can operate in a crisis.
China views Taiwan as part of its territory that must be brought under its control someday, by force if necessary. The People’s Liberation Army has held an unprecedented amount of military exercises around Taiwan since Lai took over, underscoring its deep distrust of a leader it worries will formalize Taiwan’s independence.
Officials in Taipei downplay the likelihood of a conflict with China anytime soon, though US Defense Secretary Pete Hegseth recently warned more urgency is needed to prepare for a potential People’s Liberation Army invasion.
From at least last year, the US— Taipei’s main military backer— started raising concern about the archipelago’s blood reserves and distribution capabilities, according to Taiwanese officials familiar with the matter, who asked not to be identified discussing the sensitive matter. Specific issues included whether Taiwan had enough electricity sup -
. . continued from A16
dent Ursula von der Leyen, also seeking to steer the discussion toward economic matters, urged the G-7 to work together to battle trade practices by China they see as unfair. China has shown that it’s unwilling “to live within the constraints of the rules-based international system,” she said. “While others opened their markets, China focused on undercutting intellectual property protections, massive subsidies with the aim to dominate global manufacturing and supply chains.”
Other leaders, including Mexican President Claudia Sheinbaum, Indian Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy, are due to meet Trump and other G-7 members in the mountain region of Kananaskis, west of Calgary. Members of the bloc were working on a joint statement to establish an “action plan” to diversify supplies of critical minerals as they seek to move away from reliance on China for materials used in everything from mobile phones to wind turbines. But they were unlikely to reach agreement on a European push to lower a price cap on Russian oil or to impose new sanctions on the country, given Trump’s reluctance.
Trump, Ishiba fail to reach trade deal at G-7 summit
ULai has made preparing the selfruled archipelago of 23 million people for a possible conflict with China a central part of his policymaking since he took office a little more than a year ago. Last year, he held the first meeting of a civil defense committee that discussed ways to make sure key energy facilities and critical infrastructure can operate in a crisis.
plies and backup power systems for blood banks, one of the officials said. The US was also worried about adequate cold-chain logistics and storage, the person added.
In a report to lawmakers in March, the Defense Ministry in Taipei said that it planned to establish its first blood donation center by the end this year. A program to create a centrally managed blood supply system would be set up in 2026, it added.
Lin said Taiwan relies on imports for its supply of blood bags because that is cheaper than making them domestically. Blood bags are containers primarily made of medical-grade PVC that are used in the collection, storage and transfusion of blood. A ready supply is critical in wartime, and would help save the lives of soldiers in Taiwan’s military, which is much smaller than China’s.
Taiwan’s National Security Council declined to comment on Tuesday on the push to improve medical preparedness.
Nan Ya Plastics Corp., a subsidiary of Taiwan’s largest petrochemical conglomerate, Formosa Plastics Group, has built the archipelago’s first blood bag factory near Taipei, Economic Daily News reported, citing a person at a firm that cooperates with Nan Ya Plastics on the plant. It is in the process of applying for a certificate to produce the containers, EDN said in a separate report that cited comments Nan Ya Plastics chairman Wu Chia-chau made at an annual general meeting last week.
Nan Ya Plastics didn’t immediately respond to a request for comment. With assistance from Miaojung Lin /Bloomberg
Carney acknowledged the changed global reality in his opening remarks to the group while also being sure to praise Trump.
“Nostalgia isn’t a strategy—we have to change with the times and to build a better world,” he told the other leaders. “And some of you— such as you, Mr. President—have anticipated these massive changes and are taking bold measures to address them.”
The Israel-Iran conflict, which entered its fourth day on Monday, hung over the entire event. US forces have helped defend Israel against incoming attacks from Iran but Trump has otherwise kept the US military out of the exchanges, which have seen Israel strike Iran’s nuclear facilities and other targets.
After earlier urging Israel not to strike Iranian nuclear targets, Trump has blamed Iran for the strikes, saying it had ignored a 60-day ultimatum he’d given to sign a deal imposing limits on its nuclear program.
“They’d like to talk,” Trump told reporters in the midst of bilateral meeting with Carney. “They should have done that before. They had 60 days, on the 61st day I said ‘We don’t have a deal.’ They have to make a deal.”
“They should talk immediately before it’s too late,” he said. With assistance from Brian Platt, Stephanie Lai and Derek Decloet /Bloomberg
By Sakura Murakami & Yoshiaki Nohara
S President Donald Trump and Japanese Prime Minister Shigeru Ishiba failed to reach an agreement on a trade package on the sidelines of the Group of Seven summit, an outcome that leaves the Asian nation inching closer to a possible recession as the pain of US tariffs hits its economy.
“There are still some points on which the two sides are not on the same page, so we have not yet reached an agreement on the trade package,” Ishiba said to reporters on Monday in Calgary in between G-7 meetings.
An agreement that delivered concessions on some of Japan’s top concerns including auto tariffs would likely have given a boost to Ishiba’s government and his leadership. The prime minister has been on the back foot after sustaining a bruising result in a national election last October that left him with a minority government. Still, Ishiba will be able to tout his resolve to protect Japan’s best interests rather than rushing into a deal that might have proved unsatisfactory.
“We will continue to actively coordinate with the United States to reach an agreement that is beneficial for both countries, without sacrificing Japan’s national interests,” the premier said after the meeting.
A poll conducted last month by the Mainichi newspaper found that 62 percent of respondents preferred having the government stick with its position rather than jumping into an agreement.
Ahead of the bilateral meeting expectations for an announcement were fueled by a series of discussions between the two parties. Ishiba and Trump spoke over the phone on three occasions, while Japan’s top nego -
tiator Ryosei Akazawa traveled to Washington six times to meet his US counterparts in the weeks preceding the meeting.
Less than a week before the G-7 gathering, Ishiba said a deal might be sealed in the final moments at the behest of Trump. As the G-7 neared, the negotiations appeared to falter, with Akazawa describing the trade talks as similar to “walking through fog.”
Following his meeting with Trump, Ishiba said he couldn’t say when a deal might be achieved, adding that negotiations will continue on the ministerial level.
As with other nations, Japan is subject to a 25 percent levy on cars and auto parts and a 50 percent tariff on steel and aluminum. A 10 percent across-the-board levy on other goods is set to rise to 24 percent in early July. Asked if the July deadline might be extended, Ishiba declined to comment.
There are currently no official plans for Ishiba and Trump to meet ahead of the expected tariff hike, and the Japanese government has not confirmed when Akazawa may embark for the next round of talks. If the so-called reciprocal tariff rises to 24 percent from its current baseline 10 percent, that would shave about 2.2 percent off from Japan’s projected real GDP by 2029, a May report by the Daiwa Institute of Research said.
There is a particular focus on auto
There is a particular focus on auto tariffs, which Trump has threatened to hike even further. The auto industry is crucial to the Japanese economy, employing some 5.6 million people, about 8.3 percent of the country’s work force, and generating around 10 percent of gross domestic product, according to the Japan Automobile Manufacturers Association.
tariffs, which Trump has threatened to hike even further. The auto industry is crucial to the Japanese economy, employing some 5.6 million people, about 8.3 percent of the country’s work force, and generating around 10 percent of gross domestic product, according to the Japan Automobile Manufacturers Association.
Major automakers including Toyota Motor Corp., Honda Motor Co., Mazda Motor Corp. and Subaru Corp. are bracing for a collective hit of more than $19 billion this fiscal year alone from the tariffs.
“For Japan, automobiles are truly a matter of national interest. We will do whatever it takes to protect that,” Ishiba told reporters.
Leading up to the summit, local media reported a vast array of potential concessions that Japan was suggesting in a bid to close the trade gap with the US, ranging from importing more soy from the US to cooperation on ship-building.
Tokyo has also tried to reason with the US by citing its standing as the leading investor to the US as leverage, saying the tariffs would negatively impact Japan’s capability
to invest in the US by cutting into its domestic economy.
Japan’s cumulative foreign direct investment into the US stood at $783 billion at the end of 2023 and Ishiba pledged to boost Japan’s overall investment in the US to $1 trillion during his summit with Trump in February.
Trump’s turnaround to approve Nippon Steel Corp’s purchase of United States Steel Corp. is set to boost Tokyo’s investment in Washington. In return for pledges of investment, Ishiba and his top negotiator Akazawa had consistently pushed for a full removal of all tariffs imposed by the US.
Ultimately, it doesn’t appear that those promises impressed the US. Ishiba has seen a bump in his ratings recently thanks in part to Agriculture Minister Shinjiro Koizumi taking on rising rice prices—an issue emblematic of how inflation is hitting households. His approval ratings rose 5 percentage points to 38 percent, according to a poll conducted over the weekend by broadcaster FNN.
The lack of substantial progress on a trade deal even after meeting with Trump may threaten those gains. The leader of Japan’s largest opposition party is weighing whether to file a no-confidence motion against the prime minister after the trade talks, according to public broadcaster NHK.
Japan was among the first nations to start talks with the US and was considered to be in poll position to secure an agreement. But it appears to have fallen behind others as the US struck a deal with the UK and reached a truce over tariffs with China. Bloomberg
Senate Republicans release revised tax cuts and debt limit bill
By Erik Wasson
SENATE Republicans propose to cut trillions of dollars in taxes for households and businesses in their version of President Donald Trump’s signature economic package, a plan that comes at the expense of curbing health coverage for some low-income Americans and adding to US deficits.
The bill would preserve Trump’s first-term tax cuts and create several new breaks that he championed on the campaign trail—including eliminating taxes on tips. To offset the cost, senators are proposing to repeal some clean energy tax credits and scale back Medicaid benefits spending more deeply than in the House-passed bill.
Within hours of the bill’s release, cracks were forming among Republicans about the scope of the Medicaid cuts.
“This bill needs a lot of work,” US Senator Josh Hawley, a Missouri Republican, told reporters Monday. “This will close hospitals in rural America.”
Republicans can only afford to lose three votes in the Senate, putting pressure on GOP leaders to broker compromises to push Trump’s agenda through the chamber.
The bill expands some tax breaks while raising the debt ceiling by $5 trillion, instead of $4 trillion in the House-passed measure. It largely hews to the House bill as Senate GOP leaders aim to avoid a protracted negotiation on the substance of the legislation that could risk the US defaulting on a payment obligation when the Treasury Department can no longer employ extraordinary debt limit measures, as soon as midAugust.
Notably absent from the bill is a deal on the state and local tax deduction, one of the most contentious issues facing lawmakers in the negotiations. The draft includes the current $10,000 SALT cap as a placeholder while lawmakers continue to debate the politically important write-off.
“We understand that it’s a negotiation,” Senate Majority Leader John Thune told reporters on Monday. “Obviously, there had to be some marker. We are prepared to have discussions with our colleagues
here in the Senate and figure out a landing spot.”
Thune added that his chamber plans to vote on the bill next week in order to meet a July 4 deadline to send the legislation to Trump.
Finance Committee Chairman Mike Crapo and other Senate Republicans have pushed to reduce the $40,000 cap included in the House version. House lawmakers representing high-tax states have threatened to block the measure if the cap is lowered. Current law allows only a $10,000 cap for individuals and couples, though the limit is set to expire at the end of the year.
The committee draft’s biggest change is making permanent three business tax breaks that in the House version expire after 2029. That includes the research and development deduction, a provision expanding debt interest write-offs and expensing for new equipment, including most machinery and factories. The interest expensing changes benefit banks, while research-heavy sectors like pharmaceuticals and information technology should benefit from the longer research and development break.
However, the bill pared back a House proposal to increase a business deduction for closely held businesses to 23 percent from 20 percent. The Senate plan makes permanent the current 20 percent write-off that is set to expire at the end of the year.
Democrats were quick to criticize the legislation, saying that it skews benefits to wealthy individuals and business owners.
“This is textbook class warfare,” Senator Ron Wyden of Oregon, the top Democrat on the Senate Finance Committee, said. “It is caviar over kids.”
The bill also scales back a proposed tax on university endowments. The House bill called for a top rate of 21
The bill expands some tax breaks while raising the debt ceiling by $5 trillion, instead of $4 trillion in the House-passed measure. It largely hews to the House bill as Senate GOP leaders aim to avoid a protracted negotiation on the substance of the legislation that could risk the US defaulting on a payment obligation when the Treasury Department can no longer employ extraordinary debt limit measures, as soon as mid-August.
percent on the wealthiest universities, but the Senate’s draft tops out at 8 percent. The legislation also omits a House proposal that would impose taxes on large private foundations, such as the Gates Foundation.
Trump’s plan
THE legislation largely renews Trump’s 2017 tax cuts for households and small businesses, which are set to expire at the end of 2025.
The bill also includes a new slate of levy reductions, including some of the president’s campaign trail promises to eliminate taxes on tips and overtime pay.
The plan proposes cuts to the Medicaid program for low-income and disabled people that are more aggressive than policies the House passed. The Senate went further than the House’s proposal to limit the options states have to fund their share of Medicaid. The House bill would set a moratorium on new or increased taxes on medical providers, while the draft Senate bill would cut the amount that states that have not expanded Medicaid under the Affordable Care Act can tax health care providers to help fund their Medicaid programs.
The Medicaid reductions have been politically divisive even within the Republican Party, with some senators warning that the cuts could harm their constituents.
The legislation augments the House version of the child tax credit, making permanent a $2,200 perchild credit. The House bill called for a $2,500 tax break, but the measure
was only temporary. The bill would create a new $6,000 deduction for older people and establishes a new deduction for charitable donations for people who don’t itemize their tax returns.
Energy credits
THE bill would also end the $7,500 tax credit for electric vehicles within 180 days of the legislation being enacted. The draft also calls for an end for subsidies to wind and solar. The draft ends a credit for companies, including Sunrun Inc., that lease rooftop solar systems as well as homeowners who buy them outright. The elimination of the credits would decimate the already reeling solar industry, with the uncertainty of the fate of the clean energy incentives already causing disruption in the market.
Despite a lack of agreement on several key policy issues, the Senate intends to pass the legislation on an ambitious timeline. Republicans are aiming to pass the bill out of the Senate and send it back to the House for final approval by July 4. Trump has put pressure on lawmakers to coalesce around the legislation, which we has dubbed the “One Big, Beautiful Bill” and will serve as the centerpiece of his legislative agenda. The release of the Senate bill comes as Trump’s allies have started a messaging campaign to defend his first-term tax cuts. Changes to the corporate tax code that Trump pushed through in 2017 spurred companies to invest for years, according to a new academic study from Kevin Hassett, head of the White House’s National Economic Council.
The analysis found that a one percentage point decrease in the user cost of capital drove between a 1.68 and 3.05 percentage point increase in the rate of investment. Other economists caution that Trump’s planned tax cuts will add pressure to the government’s already surging deficit and keep borrowing costs elevated,
Wednesday, June 18, 2025
BusinessMirror
Hacienda Luisita should get ₧28.48B from govt, says CA
By Joel R. San Juan @jrsanjuan1573
THECourt of Appeals (CA) has ordered the government to pay Hacienda Luisita Inc. (HLI) the amount of P28.48 billion as just compensation for its 4,500 hectares of agricultural land that have been ordered by the Supreme Court to be distributed to farmers.
In a 35-page ruling, the CA reversed and set aside the February 15, 2023 decision and August 11, 2023 resolution of the Regional Trial Court, acting as Special Agrarian Court (RTC-SAC) of Tarlac City, Branch 63 which affirmed the P304 million valuation fixed by the Land Bank of the Philippines (LBP) and adopted by the Department of Agrarian Reform (DAR) as just compensation for the lands owned by HLI plus P167.4 million as interest.
The CA held that the trial court’s findings are “misplaced, contrary to existing evidence and applicable jurisprudence on the matter.” It added that under Article III, Section 9 of the 1987 Constitution mandated that “private property shall not be taken for public use without just compensation.”
The appellate court noted that the RTC-SAC failed to adhere to the provisions of Section 17 of Republic Act 6657 or the Comprehensive Agrarian Reform Law (CARL) in
assessing the just compensation that Cojuangco family-owned HLI was entitled to for the taking of its property.
The said provision states: “In determining just compensation, the cost of acquisition of the land, the current value of like properties, its nature, actual use and income, the sworn valuation by the owner, the tax declarations, and the assessment made by government assessors, shall be considered. The social and economic benefits contributed by the farmers and the farm workers and by the Government to the property, as well as the non-payment of taxes or loans secured from any government financing institution on the said land, shall be considered as additional factors to determine its valuation.
“To this Court, the pieces of evidence submitted by petitioner are sufficient. Thus, grounded on the Court’s judicial function to determine the correct amount of just compensation, We are convinced that petitioner is entitled to additional amounts as just compensation,” the CA ruled.
“Respondents are ordered to
pay petitioner the total amount of P28,488,944,278.71 as just compensation as of 30 April 2025, without prejudice to the accrual of interest until fully paid,” the decision read.
Named as respondents in HLI’s petition for review were the DAR and LBP.
It can be recalled that in 2011, the SC ordered the direct distribution of the vast sugar land plantation to its more than 6,000 farmerbeneficiaries and held that the just compensation for HLI’s agricultural land should be computed based on the valuation of the land in 1989, when the Presidential Agrarian Reform Council (PARC) approved its stock distribution plan (SDP).
The Court said when PARC approved HLI’s SDP, it was only the time that farmer-beneficiaries were considered to own and possess the agricultural lands in Hacienda Luisita.
It also did not give credence to HLI’s contention that the taking should be reckoned from the finality of the decision of the Court, or at the very least, on January 2, 2006,
See “Hacienda,” A2
STUDENTS who failed to complete their tertiary education due to various reasons but have enough work experience related to their courses will now have a chance to obtain their coveted graduate certificates through the ETEEAPA.
In signing the implementing rules and regulations of Expanded Tertiary Education Equivalency and Accreditation Program Act, President Ferdinand Marcos Jr. highlighted that the law would provide a second chance to those who failed to finish their courses by recognizing their experience and expertise. It can be attained through structured assessment, enrichment support, and flexible learning.
PRESIDENT Ferdinand R. Marcos Jr. receives the signed implementing rules and regulations of the ETEEAP Act from Commission on Higher Education (CHED) Chair Shirley Agrupis and CHED commissioners.
Editor: Jennifer A. Ng
Cebu Pacific inks agreements to ramp up expansion in Asia
By Lorenz S. Marasigan @lorenzmarasigan
BUDGET carrier Cebu Pacific Air has signed two agreements at the Paris Air Show to boost fleet efficiency and operational resilience, as the airline ramps up its expansion across Asia.
The Gokongwei-led airline said it entered into a 12-year maintenance agreement with US-based Pratt & Whitney for the upkeep of its Geared Turbofan (GTF) engine fleet.
The deal aligns maintenance costs with actual engine usage and covers engines from Cebu Pacific’s recent orders, including the February 2024 acquisition of 15 A320neo-family aircraft and the July 2024 order for up to 152 A321neo aircrafts.
“Maintaining the performance and efficiency of our fleet is a top priority,” said Cebu Air Inc. CEO Michael B. Szucs. “The GTF engine has
enabled up to 20 percent reduction in fuel burn compared to previousgeneration engines–translating into meaningful savings in fuel efficiency, lower emissions and reduced operating costs.”
Szucs said he believes the agreement strengthens the airline’s “ability to scale sustainably while continuing to deliver on our commitments to passengers.”
Rick Deurloo, president of Commercial Engines at Pratt & Whitney, said the agreement is a continuation of the firms’ decades-long relationship.
“The agreement reflects our ongo-
ing collaboration with Cebu Pacific to optimize the reliability and efficiency of their fleet,” Deurloo said. “It underscores our commitment to enabling our customer’s network expansion and growth.”
Cebu Pacific currently operates 56 aircraft powered by Pratt & Whitney engines.
On the same day, Cebu Pacific signed an agreement with Lufthansa Systems for the deployment of nextgeneration operational control and crew management solutions from the NetLine suite.
The systems will enhance automation and data-driven decisionmaking across flight operations, rostering, and disruption management.
“This partnership is central to enabling the scaling of our operations. We’re investing in the internal infrastructure with world-class systems that will enhance safety, operational resilience, efficiency and crew wellbeing as we grow our fleet and expand our network across the region. This is all about preparing Cebu Pacific to capture the outstanding opportunity that presents itself both in the Philip -
pines and across the broader Asian market,” Szucs said.
Lufthansa Systems GmbH CEO Stefanie Neumann explained that the NetLine suite’s real-time analytics tools will allow Cebu Pacific to proactively manage operational disruptions by factoring in variables like weather, airspace restrictions, and crew availability.
Furthermore, the crew management module—developed with aviation tech partner ROIS/Pi—leverages machine learning for faster, optimized roster planning and better resource allocation.
“We are proud to support Cebu Pacific’s ambitious vision. Together, we’re building a scalable, futureready operations platform,” Neumann said.
The implementation of the new systems is scheduled sometime this year.
Cebu Pacific currently flies to 63 destinations across Asia-Pacific and the Middle East and is set to receive up to 152 A321neo aircraft, following a landmark $24-billion deal signed last year with Airbus and Pratt & Whitney.
NGCP holds consultation for TDP
THE National Grid Corporation of the Philippines (NGCP) has presented to industry stakeholders its Transmission Development Plan (TDP) for 2025-2050.
“The TDP is essential to NGCP. It outlines, in broad strokes, our vision for the future of the Philippine energy landscape, focusing on ongoing projects and grid plans. This includes indicative project timelines, regulatory updates, the proposed integration of renewable energy sources, and smart grid technologies to enhance efficiency and sustainability,” said NGCP President and CEO Anthony L. Almeda.
The NGCP holds the TDP stakeholders consultation every year as part of its holistic approach to sup -
porting a reliable energy industry. The TDP stakeholder consultation is meant to align with the government’s goals for the energy sector and other power industry players’ committed projects.
The NGCP also held focused consultations with key agencies such as the Department of Energy (DOE), the Energy Regulatory Commission (ERC), the National Transmission Corporation (TransCo), the Philippine Electricity Market Corporation (PEMC), and the Independent Electricity Market Operator of the Philippines (IEMOP). According to Almeda, stakeholder collaboration is “crucial for the success” of this plan. He added that the company “values insights and feed-
back from stakeholders, which are crucial for fine-tuning its plans and programs.”
The TDP is designed to address the increasing energy demands of the nation while promoting a sustainable future through the incorporation of renewable energy sources and advanced technologies.
It also serves as a platform for stakeholders to actively participate in discussions regarding the ongoing and future projects outlined in the TDP.
The NGCP is committed to fostering an inclusive dialogue with stakeholders to create a roadmap for a resilient and efficient transmission system that aligns with the country’s energy goals, Almeda said. Lenie Lectura
DigiPlus secures spot in Fortune 500 Southeast Asia
THE DigiPlus Interactive Corp. has secured a spot in the Fortune Southeast Asia 500 list, marking its second consecutive year as one of the region’s largest and fastest-growing companies by revenue.
The company has moved up more than 259 notches from last year, at 223rd, reflecting sustained growth in its 2024 financial performance and solidifying its status as a leading force in the Philippine gaming and entertainment landscape.
This marks DigiPlus second consecutive year on the prestigious list, which ranks the 500 largest companies in Southeast Asia by revenue.
The climb reflects the company’s 2024 performance, fueled by ongoing demand for its entertainment platforms BingoPlus, ArenaPlus and GameZone, successful market expansion, and a deep commitment to innovation, regulation, and corporate responsibility.
“Being part of Fortune’s list is a reflection of the trust we’ve earned and the impact we deliver,” DigiPlus Chairman Eusebio H. Tanco said. “From building world-class gaming platforms, to pioneering self-exclusion tools, we are shaping a safer, more vibrant digital entertainment industry.”
Last year, the company paid P33.7 billion in taxes and regulatory fees, helping fund government programs in public health, education and infrastructure. VG Cabuag
DBy Lenie Lectura @llectura
MCI Project Developers Inc. (DMCI Homes) has joined the Competitive Retail Electricity Market (CREM) and the Retail Aggregation Program (RAP) of the government. Under the CREM, businesses with an electricity demand of at least 500 kilowatts have the option to select their electricity provider. The RAP, on the other hand, is the latest customer choice program launched by the Energy Regulatory Commission (ERC) to extend CREM’s competitive benefits to smaller electricity consumers, such as residential buildings, by allowing them to form an aggregated group within the same franchise area to meet the minimum energy demand requirements.
DMCI Homes will source power from MPower, the local retail electricity arm of the Manila Electric Co. (Meralco). Through this collaboration, DMCI Homes is set to pioneer the adoption of the RAP in the real estate sector by consolidating the demand of the common areas of its properties Rosewood Pointe Condominium in Taguig and Tivoli Garden Residences in Mandaluyong.
Meanwhile, its condominium developments namely La Verti Residences, Sheridan Towers, One Castilla Place, Flair Towers, Zinnia Towers, and Tivoli Garden Residences
have made the switch to CREM and are now benefitting from MPower’s competitive rates.
Leaders from the ERC, DMCI Homes Property Management Corp. (DPMC), the Independent Electricity Market Operator of the Philippines and MPower attended Monday’s ceremonial launch, marking the official commencement of this landmark joint initiative.
“Our company and residents at DMCI Homes are glad to be connected with MPower as our RES. The savings on electricity bills that the households in our communities can enjoy would surely come a long way while we continue to work on our vision for building eco-friendly living spaces,” DPMC Vice President for Purchasing, Asset Management, Commercial & Residential Leasing Arturo C. Zamora said.
Established in 1999, DMCI Homes—a wholly-owned subsidiary of DMCI Holdings Inc.—has grown into one of the leading midsegment to upper-mid segment developers in the Philippines with its pioneer move in building resortlike condominiums and integrating sustainable innovations into its developments.
This year, DMCI’s latest milestone with MPower is set to benefit more than 25,000 residents across its Metro Manila developments by reducing their energy costs while ensuring a reliable and sustainable power source.
The rubber band
LET’S talk about growth. You see, every sales leader needs growth, hence each one must have a deeper understanding of its concept. And what better way to describe growth than to use a rubber band! This elastic and somewhat viscous material is an everyday object that we use to hold small things together. But the only way to make it truly useful is to stretch it. It’s the same with sales leaders, if we want to be truly effective, we have to stretch our capacities. This process of stretching is called growth. Here are three lessons on growth that we can learn from rubber bands.
Our potentials are limited by our current stretched capacities
WHILE rubber bands are stretchable materials, it tend to become brittle when not in use especially if not stored in the right temperature. Similarly, we may possess huge potentials as sales leaders, but if we don’t exercise our skills and capabilities on a regular basis, we are unknowingly putting a lid to what we can do. The sad truth is that I see a lot of talented and skilled individuals waste their potentials by being complacent and too relaxed. The worst part is that when certain opportunities arise that requires their skills, they crumble out of pressure and stress. Our potentials may be defined by our knowledge and skills, but our capacity for growth is determined by how much we stretch our limits.
Find the balance of stretch and release
A RUBBER band may be highly stretchable, but there is also a breaking point. Yet you may extend its elasticity through a process of constant stretch and release. As sales leaders, we too can be strained into our breaking points. However, through a balance of constant
Sari-sari stores projected to double in value to ₧2.4T by 2030–DTI
By Andrea E. San Juan
Tstretch and release, our capacity for growth increases every time. The idea here is to grow intentionally on a regular basis. How much growth are you willing to achieve each time? But as you strain and deliberately put stress on yourself during this process, make sure to release the stretch once in a while. Give yourself a little break to recover your strength before you get back to your growth regimen. Remember, it’s important to find the right balance of stretch and release.
Constantly stretch your limits
IN order to grow to where your goals are, you need to continually stretch your limits. Genuine sales leaders are incessantly engaged in a growth battle. Each time you reach a new level of growth, make sure that you don’t fall into a trap called complacency, where all things become comfortably easy. Instead, continuously push yourself outside one comfort zone to another. But do you stop once you reach your personal goals? Of course not. As sales leaders, it’s no longer about your goals. It’s now about your individual team members’ goals. This means that you can only truly succeed once they fully achieve theirs. Suffice to say that the best rule for growth is to constantly stretch your limits. So what are you waiting for? Stretch and grow. God bless!
Alexey Rola Cajilig is the Founder, President & CEO of ARCWAY Consultancy Inc., and Senior Vice President & Chief Operations Officer of EMCORE DOTNET Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of Life is a Classroom, The Effective Seller and Solving the Sales Puzzle. He is also the creator of ARCH Styles, a behavioral and personality assessment & discovery tool. If you have questions and suggestions, you may connect with him at https:// www.facebook.com/coachlexey and at LinkedIn /ALEXEY ROLA CAJILIG.
Empowering change: PDLs showcase craftsmanship at Baragatan Festival
ATANGAS CITY, Batangas—
BThe Baragatan Festival 2025 in Palawan is not only a celebration of the province’s rich culture and heritage but also a platform for transformation and empowerment.
At the local government unit (LGU) Brooke’s Point Trade Fair Booth on the Provincial Capitol Grounds, the Bureau of Jail Management and Penology (BJMP) Brooke’s Point District Jail is showcasing the remarkable craftsmanship of persons deprived of liberty (PDLs).
Their handcrafted products, including intricately woven rattan accessories, stand as a testament to their resilience and commitment to change. Jail Officer 3 Joefrie Anglo, BJMP Mimaropa information officer, emphasized the significance of such initiatives in the rehabilitation and reintegration of PDLs into society.
“These platforms allow PDLs to contribute meaningfully to their families and communities, reinforcing the agency’s commitment to restorative justice and community-based reintegration programs,” Anglo said in a news release on Saturday.
The Baragatan Festival, held annually from June 17 to 23, commemorates the founding of Palawan’s civil government. The term “Baragatan” is derived
from the Cuyunon word meaning “to meet,” reflecting the festival’s essence as a convergence of the province’s diverse cultures and communities.
The event features a weeklong series of activities, including cultural presentations, trade shows, exhibitions, float parades, and street dancing.
One of the festival’s main attractions is the Barakalan sa Baragatan, an agro-trade fair held on the grounds of the provincial capitol. This fair provides towns and cities of the province an opportunity to exhibit their locally produced goods, promoting local craftsmanship and fostering economic growth.
The product exhibit runs from June 6 to 22, hosted by the LGU Tourism Office.
The exhibit offers visitors a chance to support local craftsmanship and witness firsthand the transformative power of rehabilitation. By purchasing these handcrafted items, attendees are not just acquiring unique pieces but are also investing in second chances, contributing to the journey of reintegration and hope for the artisans.
Through initiatives like these, the Baragatan Festival continues to celebrate the culture, history, and talent of the Palaweños, while also empowering individuals on their path to change and reintegration. PNA/PR
HE value of sari-sari stores in the Philippines could double to P2.4 trillion by 2030, according to the Section G: Job Blueprint for Wholesale & Retail Trade report released by the Department of Trade and Industry (DTI) on Monday.
The report showed that currently, sari-sari stores contribute an estimated P1.12 trillion to P1.46 trillion yearly, underscoring their role as a “critical” component of the national retail economy.
This value represents 1.3 million sari-sari stores in the country and represents an estimated 8.3 percent of total informal workforce. Meanwhile, the report noted that average sales of per sari-sari store in
the Philippines amount to P861,000 to P1.23 million yearly.
This represents retail sales at 15 to 20 percent of the total retail market, the Section G: Job Blueprint for Wholesale & Retail Trade report noted.
The report underscored that sarisari stores contribute “significantly” to employment, particularly within the informal sector, which includes a “vast” majority of the Filipino workforce.
“These stores not only provide livelihoods for their owners but also create jobs for others in the community, often in areas underserved by larger retail formats,” the report also noted.
Despite the significant contribution of micro-enterprises to employment in the country, the report
underscored that sari-sari stores are facing “several challenges” that hinder their growth and sustainability. For one, the report said these enterprises have limited access to capital, making it difficult for store owners to expand or modernize.
“A lack of formal business training restricts their ability to efficiently manage and grow their operations,” it also noted.
Sari-sari stores also face “stiff competition” from larger retail chains and online marketplaces, which the report noted “offer broader product ranges at competitive prices.”
In addition, the report said “Complex regulatory requirements make it challenging to comply with business registration and operational standards, adding to the burdens these small businesses must navigate.”
KPMG and MAP champion innovation, announce GTI finalists
By Rizal Raoul S. Reyes @brownindio
KPMG Philippines and the Management Association of the Philippines are doing their share to boost innovation and develop the startup industry in the country through the KPMG Private Enterprise Global Tech Innovator (GTI) in the Philippines Finals.
Doris Aura Pastoriza, principal data, artificial intelligence, innovations lead, KPMG Philippines said in her remarks during the recent presentation of three finalists that it was not just pitches and business models “but bold visions for a better future.”
“Each of our finalists brought forward innovation with impact, and we could not be more proud of the Philippines startup community represented here today to our three outstanding finalists, Klimatech Innovative Solutions, Waste4Good and BetterTeem,” she said.
“You’ve demonstrated that Filipino innovation is more than ready to take the center stage on the global platform. And now to our grand winner, we are thrilled to announce that you will represent the Philippines at the KPMG GTI finals in Lisbon, Portugal. This is a huge milestone, not just for the team, but for the entire ecosystem you represent. We know you will showcase the best of what our country has to offer with confidence, clarity and conviction,” Pastoriza pointed out.
The winner will be officially announced on June 17 during the MAP and KPMG Technology Summit in Taguig City.
The finalists FOUNDED by Lorylin Daquioag, Waste4Good Technologies is an agriculture technology and social enterprise that aims to tap food waste and address food security through the establishment of sustainable urban and rural garden farming projects. Moreover, the company has garnered both
local and international awards and recognition including the Accenture Startup grant through the UP Engineering Research and Development Foundation, Inc and (UPERDFI), the UNDP-ISIP-Australian Aid grant and Mindanao’s sole grantee for the Department of Science and Technology’s WomenHelping-Women (WHWISE: Innovative Social Enterprises).
“They approached us to get our expertise to help in managing their plantation,” said Daquioag referring to the small rice farmers and banana growers in an interview on the sidelines of the event.
She said the farmers and banana growers also seek their help in developing sustainable farming methods and become more productive in their output. During their interaction with the banana growers, Daquioag found out that the farmers did not have a soil assessment program that would help them if the soil is healthy. “What sets us apart from our competitors is that we analyze the condition of the soil from top to bottom,” she said.
As a social enterprise, she said Waste4Good offers their products at affordable rates. Further, it created a subscription-based model in their Enhanced Compost Activator Solution (eCAS) where the buyer can get a soil analysis service for free from the company if the farmer owns a 30-hectare or less farm. To reach out to more communities and local government units, Waste4Good established the Farm4Bayanihan. It is a communitydriven program that integrates food waste into agricultural practices, fostering sustainable food sources for both urban and rural communities. It aims to empower local farmers through training and resources, improve livelihoods, and strengthen food security. “We engaged the members to teach the latest farming methods and disregard the ‘bara-bara’ style of farming,” said Daquioag.
She admitted the interaction with the farmers is geared towards networking with the farmers to
establish a strong relationship with them. “We also do this sales retention,” she said.
“If we manage to sell P1 million worth of our products but if the buyer does not repeat his purchase, we’re not successful,” she added.
After sales of their products, Waste4Good will go back to the community after three months to conduct an evaluation of the condition of the farm. The Compost Activator Solution (CAS) is Waste4Good’s flagship product. It’s an organic solution containing indigenous microbes that significantly accelerate the decomposition of biodegradable waste (primarily food waste).
Renewable energy
DESCRIBING himself as a passionate innovator focused on renewable energy, disaster resilience, and creating sustainable solutions for the country, Klimatech CEO Joseph Valdez sees a lot of opportunities for the company as there are 1.8 million households that do not have electricity.
With strong wind currents, particularly in coastal and elevated areas, the Philippines has considerable wind energy potential. It has an estimated 178 GW of offshore wind potential.
Despite these challenges, the Philippines is strongly positioned to become a leader in renewable energy in Southeast Asia, leveraging its natural endowments and supportive policy framework to achieve a more sustainable and secure energy future
Klimatech is known for their vertical-axis wind turbines, which are designed to operate effectively in low-wind and urban environments. According to Valdez, these turbines require less space compared to traditional horizontal wind turbines.
As an ardent advocate of the circular economy, Valdez said Klimatech is involved in wasteto-biofuel conversion initiatives.
“The company utilizes recycled plastic materials, such as turning plastic waste into turbine blades,
demonstrating a commitment to circular economy principles.
“Our mission is to help clients reduce carbon emissions, improve disaster preparedness, and promote inclusive sustainable development,” said Valdez. For innovation, it focuses on innovative technologies like 3D printing for turbine components and the use of recycled materials.
Klimatech Innovative Solutions is actively contributing to the renewable energy and sustainability landscape in the Philippines.
Using AI in HR
BETTERTEEM Technologies Inc., commonly known as Betterteem, is a Philippine-based HR technology (HRtech) startup that leverages artificial intelligence (AI) to address employee retention and workplace satisfaction.
Founded in 2021 by Bo Discarga (CEO) and Rey Leonard Dumasig (CTO), Betterteem has quickly gained recognition for its innovative approach to talent management.
Discarga said Betterteem’s core service is an AI-powered business intelligence platform that predicts and mitigates employee resignations. It analyzes unstructured data from over 200 enterprise systems (including compensation, performance reviews, and productivity metrics) to provide actionable insights. The platform boasts high accuracy and precision in detecting potential signs of resignation and identifying employees at risk of leaving.
Discarga said Betterteem also offers integrated employee assistance programs, flexible benefits functionality, digital community platform, and detection of “quiet quitting”:
Basically, Betterteem combines features from various HR applications like Slack, Microsoft Teams, HRIS, SharePoint, and Intranet. The integration enables the app to collect extensive usage data, which is then fed into its machine learning algorithms to create predictive analytics.
Vittorio V. Vitug
Waste4G ood founder Lorylin Daquioag K LIMATECH CEO Joseph Valdez
BETTERTEEM Technologies Inc. founder Bo Discarga
BTr misses T-bond auction target on mute demand, high bid rates
By Cai U. Ordinario @caiordinario
THE national government failed to raise the full amount from the Treasury bond (T-bond) auction last Tuesday, according to the Bureau of the Treasury (BTr).
The government raised a total of P27.6 billion from the partial award of T-bonds. This is P2.4-billion short of the P30 billion the government intended to raise from the offer. However, the auction was 1.8 times oversubscribed with total tenders reaching P55.4 billion. This means, the auction committee rejected a total of P27.819 billion tenders.
“The Auction Committee partially awarded the reissued Trea-
FINANCIAL technology (fintech)
firm, Salmon Group Ltd., which operates the Rural Bank of Sta. Rosa Inc., has completed its $88-million worth fundraising to improve access to credit to their customers across Southeast Asia.
Salmon said through a statement it issued last Tuesday that the funding transaction consisted of a $60-million drawdown under a 3-year $150 m illion Nordic bond framework agreement.
Salmon also said some $28 million of the new equity was raised from blue-chip US institutional investors, Antler Elevate, as well as existing shareholders of Salmon.
“This funding milestone is a testament to the trust our customers a nd investors place in Salmon’s mission to drive financial inclusion in t he Philippines. Millions of Filipinos still struggle with limited access to fair and transparent credit, while traditional banks often fail to meet their needs,” Raffy Montemayor, Cofounder of Salmon, was quoted in the statement as saying.
“We’ve built Salmon to change that—by leveraging AI and cuttingedge technology, we’re making credit more accessible, deposits more rewarding, and financial services simpler for every Filipino,” Montemayor added.
Salmon said the list of their existing investors include the International Finance Corporation, the sovereign wealth fund of Abu Dhabi ADQ/Lunate, Northstar, Back in Black Capital, and prominent Filipino investors.
T he equity round was led by Spice Expeditions, LP (“Spice”), a venture
sury Bond FXTN 10-73 at today’s auction. The average yield for the security, with a remaining term of 9 years and 10 months, was capped at 6.428 percent due to muted market demand and higher submitted bid rates,” the BTr said.
It can be noted that the average rate of 6.428 percent for the issuance is higher than the coupon rate of 6.375 percent. The original issue date for the
capital firm focused on global fintech. Spice was founded by Nick Huber, who was a partner at Ribbit Capital prior to launching the firm in 2024.
The bond transaction marks the first-ever Nordic bond issuance by a technology firm out of Southeast Asia. Salmon said the transaction is one of the largest recent investments in the Philippine financial technology industry.
Montemayor said Salmon now has the highest-rated financial apps in the country with over 3,000 partner stores nationwide. It also has one of the highest time deposit rates in the market at 8.88 percent per annum.
“This is just the beginning. With this new funding, we will expand our reach, introduce more innovative products, and accelerate our v ision of building the most customer-centric and innovative financial i nstitutions in the Philippines,” Montemayor said.
“We are proud to be a Philippine fintech champion, backed by worldclass investors, and fully committed to empowering Filipinos with the financial tools they need and deserve,” he added.
Salmon Group Ltd operates a BSPregulated bank, the Rural Bank of Sta. Rosa (Laguna), Inc., and a SEC-licensed financing company, Sunprime Finance Inc., in the Philippines. Founded in July 2022 by banking and technology veterans Pavel F edorov, George Chesakov, and Raffy Montemayor, Salmon uses AI-enabled technology and a proprietary credit engine to offer consumer credit, providing differentiated simplicity, quality of service, and convenience to its customers. Cai U. Ordinario
bonds was April 28, 2025 and the maturity date is April 28, 2035. The bonds have a remaining life of 9 years and 10 months.
Rizal Commercial Banking Corp.
Chief Economist Michael L. Ricafort attributed tepid interest on the longterm instruments to the Israel-Iran conflict.
Ricafort said the aggression that began June 13 led to higher global crude oil prices to among 2.5-month highs. He also pointed to higher US dollar/peso exchange rate at P56.6 levels lately, the highest in nearly two months or since August 22, 2025.
Both factors could lead to some pick up in import prices and overall inflation, Ricafort added.
The RCBC executive said the tension in the Middle East and the forex levels occur amid the higher 10-year US Treasury yields compared to 3.5-month higher at 4.44 percent. Again, Ricafort said, the
Ilatter is due to the pick up in global crude oil prices.
He said the Israel-Iran war could lead to faster inflation and the recent US fiscal concerns over wider US budget deficits and higher US government debt amid Trump’s tax plan.
Last Monday, the BTr awarded P26.7 billion of its Treasury bill (Tbill) offering. The results of the Tbills auction were mixed as the auction committee partially awarded the 91-day T-bills, upsized the volume of 182-day securities and fully awarded the 364-day debt papers.
The money raised from the auction was, nonetheless, P1.7-billion higher than the P25 billion programmed for the offering as total demand reached P74.205 billion, making the auction 2.9 times oversubscribed (See: https://businessmirror.com.ph/2025/06/16/tbill-yields-at-sideways-on-policyeasing-bet/).
THE Agribusiness Banking Corp.-A Rural Bank (Agribank) started operating last Monday after the Monetary Board approved the merger of four rural banks into the lender.
In an issuance, the Bangko Sentral ng Pilipinas (BSP) said the merger was approved by the MB in January 23.
“The Agribusiness Banking Corp.A Rural Bank doing business under the name and style of Agribank was registered with the Securities and Exchange Commission on 14 February 2025,” the BSP said.
“The corresponding Certificate of Authority to Operate as a Rural Bank was issued by the Bangko Sentral ng Pilipinas on 30 May 2025. The bank started its operations on 16 June 2025,” it added.
On its website, however, Agribank traces its operations to 1978 as the Rural Bank of Sta. Fe (N.V.) Inc. The lender also advised in its “Notice of Consolidation,” that “there will be no change in the rights of
depositors of the Constituent Banks” that will be consolidated under Agribank.
The lender added that depositors’ deposits from the Agribusiness Rural Bank Inc. (ARBI), the Rural Bank of Maddela (Quirino) Inc. (RBMQI), the Rural Bank of San Jacinto (Masbate) Inc. (RBSJMI) and Banco Alabang Inc. (A Rural Bank) will be transferred to Agribank. ARBI and Banco Alabang operates within the National Capital Region (NCR) while the other two banks operate outside NCR. The BSP said it has supported bank mergers and consolidations and even encouraged more banks to follow suit under the new guidelines for mergers, consolidations, and acquisitions.
In 2021, the BSP said most mergers were between two banks while other mergers involved three banks. Data from the Philippine Statistics Authority revealed that from 2006 to 2012, some 36 banks have merged, 28 of which are rural lenders.
Cai U. Ordinario
impeachment is important to the people
MPEACHMENT in a democracy is for the protection of the people against “abuses of public officials” and a tool for checks and balance between the three branches of government.
The House of Representatives and the Senate can impeach and convict the Executive (President, Vice President), the Judiciary (even the Chief Justice) and even heads of constitutionally-created bodies like the Ombudsman and the Comelec. Members of Congress can, in turn, be charged by the Ombudsman and/ or Sandiganbayan (appointed by the Executive). The President selects justices to the Supreme Court.
An impeachment process ensures no one is above the law in a democracy and, thus, prevents abuse of power. The process also serves as a guardrail to ensure performance and, thus, protects government resources (taxes from the people). When it serves to enhance government integrity and, hence, preserve public trust, it leads to public cooperation and social stability.
Moreover, impeachment appeases widespread public concern to reflect the “will of the people,” as in the case of Vice President Sara Z. Duterte, where a survey indicated 8 of 10 Filipinos voted in favor of a trial. Duterte herself had, at the outset, said she was ready to face trial, and her team is prepared. It is a chance to clear her name, lest we forget.
Likewise, impeachment is not a “be-all and -end-all “remedy as in t he case of the former President Joseph “Erap” E. Estrada, who “constructively resigned” with no decision from the impeachment court but was convicted by our ordinary court for plunder and sentenced to life imprisonment. His jail was his rest house in Tanay. And he was eventually pardoned by his replacement, President Gloria M. Arroyo (GMA).
THE Bases Conversion and Development Authority (BCDA) remitted P5.17 billion in cash dividends and asset disposition proceeds to the Bureau of the Treasury (BTr), according to the Department of Finance (DOF).
In a statement, the DOF said this amount is composed of P2.04 billion in cash dividends and P3.13 billion as a share of its asset disposition proceeds collected in 2024.
Finance Secretary Ralph G. Recto said the amount could easily build 2,000 classrooms or buy fertilizer for more than 500,000 hectares of rice land. It can also help boost the welfare and weapons of the Armed Forces of the Philippines.
“You are proof that when profes-
Such a move to file criminal charges, as well, against VP Duterte has been brought up at the Lower House. Accountability, therefore, does not end with just the impeachment.
Impeachment status
CONTENDING parties accuse the other of either “indecent haste” or “delaying tactics,” which is par for the course. Perhaps, what is most important is that the Impeachment Court has been convened, impeachment papers received, and the accused asked to answer summonses. The trial has begun.
Many people questioned the act of “remanding” the articles back to the House because senator-judges cannot do such except by the defendant. The defenders argue that it was a procedural matter—a “Solomonic” way out, if one wishes, to ensure that there are no legal irregularities in the procedure.
The first “remanding” demand was for the House to certify that it violated no Constitutional Law, specifically touching on “no multiple impeachments” in one year. While there were three expressed intens to file earlier, the House only accepted, received, and transmitted the fourth complaint. Thus, there is only one official complaint.
The second “remanding” demand for the House expressing intent to pursue such even unto the 20th Congress. That would be easy to answer in the 19th Congress and a probable reality in the 20th Congress since 80 percent of the House was reelected
sionalism meets patriotism, it results in progress for all,” Recto said. “[H] indi lang kayo tumutupad sa tungkulin—lumalagpas pa kayo. Boundary na, may bonus ( pa).”
The Finance Secretary noted that BCDA exceeded expectations as Government-Owned and Controlled Corporations (GOCC) were instructed to remit 75 percent of their net income to the BTr.
With this, Recto pledged to support the BCDA to harness more value out of its asset portfolio, which in turn could boost its income and dividend contributions to the government.
He said idle lands that will be transformed by the BCDA into “wealthcreating hubs” will generate jobs and
in the May polls and will therefore reflect the sentiment of the 19th Congress.
Nonetheless, we believe that any decision to allow or disallow crossover to the 20th Congress will lead to a referral for final judgment to the Supreme Court, since it is the final arbiter on impeachment cases. We are confident, however, that the SC will allow the impeachment to crossover, given precedents, because it is a continuing Constitutional duty and not a purely legislative function whose agenda is terminated with the ending of the Congressional year.
Since “remanding” is an unusual, novel step, the Presiding Officer (Senate President Francis “Chiz” G. Escudero) has been pilloried mercilessly for undue delay and bias for the VP. It might be helpful to recall that even Associate Justice Antonio Carpio had cautioned that whatever the outcome, the process should be within the bounds of law; otherwise, even the final consequence might be negatively affected. One of the Constitution framers, Adolfo S. Azcuna, likewise, opines that the remanding is unusual but not disallowed.
The procedure must always be lawful. We recall a story of a Federal Bureau of Investigation (FBI) agent who caught and then tied a wanted terrorist to his bedpost while the FBI went to court to get a specific warrant for his arrest.
Any evidence coming from such an illegal arrest was thrown out by the court, and the suspect was eventually freed. It was to ensure that the human rights enshrined in the 4th Amendment of the accused, regardless of whether guilty or not, must be respected foremost.
The act of “remanding” might be given the benefit of the doubt, considering the above context. However, there is no blame for its opponents, either, for them to slam this further
boost incomes. It is hoped, Recto said, that this will also create a multiplier effect for the economy.
“The railway alone to Clark and the subway to BGC are the state’s vote of confidence on the continuing viability of baselands conversion. Ginagawa natin ito upang patuloy tayong makahikayat ng mas maraming investors at mabigyan ng mas marami oportunidad ang ating mga kababayan na umasenso,” Recto said.
delay, considering the great length of time the impeachment court had not been convened from the time the papers were transmitted in February.
The outcome
THERE is no telling what the outcome will be from the Senator-Jurors. Since the beginning, there have been obvious, individually expressed sentiments on the accused. By law, they should be excluded from sitting as impartial jurors. Be that as it may. We have extreme confidence, however, that given the nationally televised exposure of the deliberations on the 7 charges against the accused, the senator-jurors will also be under pressure from public scrutiny, whether they will justly weigh the merits of the evidence when they vote. They know their political future will also depend on their fidelity to truth, justice, and fairness, or face future political damnation.
Just like the case of Justice Corona, where his previous majority supporters eventually deserted him, towards a 20-3 decision based on evaluating presented evidence. He was convicted.
In the case of Estrada, refusal to open an envelope caused the prosecution panel to resign and propelled People Power EDSA 2, leading to the massive resignation of Estrada’s Cabinet and prompting the president’s “constructive resignation” by leaving the Palace.
There is, therefore, no one way to skin a cat. And the ways of democracy are not always easy, but that is our democracy.
Zoilo Dejaresco III, a former banker, is a financial consultant, media practitioner, and author. He is a Life and Media member of the Financial Executives Institute of the Philippines (Finex). His views here, however, are personal and do not necessarily reflect those of Finex or the B usiness M irror dejarescobingo@yahoo.com.
The BCDA is a GOCC mandated to help strengthen and modernize the Armed Forces while establishing integrated developments, dynamic business centers, and vibrant communities. Key examples of these include the Bonifacio Global City, New Clark City, and Newport City. Last year, the DOF said the government cannot afford to have excess funds of GOCCs “sleeping” while withholding it from public investments (See: https://businessmirror.com. ph/2024/07/15/letting-extragocc-billions-sleep-not-fiscallywise-dof/).
The DOF said billions of unused and idle funds of GOCCs are being used for projects in health, social services and infrastructure that serve the public, finance growth and eliminate poverty. The DOF added that utilizing the excess funds of state-run corporations is a “more prudent
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Zoilo ‘Bingo’ Dejaresco III
Visually impaired director tackles humanization of PWDs in short film
DISABILITY is not an excuse—this is the core message of Ballad of a Blind Man, a short film written and directed by award-winning filmmaker Charlie Vitug, which explores themes of abuse, feminism, and emancipation.
Ballad of a Blind Man follows the story of a demure and loving daughter named Bea. In her journey of caretaking for her ailing and overbearing blind father, she unravels the secrets of her estranged mother—a turning point for the patriarch to tighten his grip over her life.
Within 16 minutes of runtime, it presents a study and a metaphor on manipulation as the father—a painter—frames Bea as his subject.
The piece premiered during the Manila Film Festival 2024 as a finalist and nominee for Best Cinematography. Vitug stated how the concept took inspiration from her very own observations growing up.
“There is this recurrence of powerful men who use their illnesses and disabilities as an excuse for their misconduct against women,” she shared. “I labeled this image as ‘the abusive man in the wheelchair’.”
For the young filmmaker, persons in powerful positions use their medical conditions as a shield against the consequences of their wrongdoings— and some institutions tolerate them because of their credibility.
Vitug was only 10 years old when she was diagnosed with bilateral optic neuropathy, or permanent damage to the optic nerves of both eyes.
However, the magna cum laude graduate from the De La Salle-College of Saint Benilde (DLS-CSB) Film Program aims to utilize her platform to shed light in the media on the humanized portrayal of persons with disabilities (PWD)s.
“In 2023, I did a collaboration with Hiraya Collective for the Blind, a community where I met filmmakers who were blind and visually impaired like myself,” she recalled.
“Many of them shared their frustrations about how mainstream media only ever writes PWD for the sake of drama and sympathy, forcing audiences to feel bad for them and not recognize them past their medical condition.”
“We became tools for audience sympathy— even if we never asked them to feel bad for us,” she added.
Through Ballad of a Blind Man, Vitug brought the story close to home—behind the doors of a toxic family culture.
Ballad of a Blind Man recently nabbed the Best Cinematography and Best Film on Disability Awards at the 2025 Asian Independent Film Festival and an Honorable Mention for Best Director Award at the 2024 Los Angeles Film and Documentary Awards.
Ballad of a Blind Man is now available for viewing at www.youtube.com/@ charlievitugproductions.
When helping hurts more
MOST of us want to be helpful. Offering support to someone in need can feel rewarding, even noble. But what happens when that desire to help turns into an overwhelming need to rescue others? What if your identity becomes wrapped up in being the one who saves the day? If you often feel responsible for fixing everyone’s problems, even at the cost of your own well-being, you might be dealing with what experts call a messianic complex.
The term may sound dramatic, but it describes a pattern of thinking and behavior that many people fall into without realizing it. At its core, a messianic complex involves believing that it is your job to rescue, heal, or reform others. People with this mindset often take on more emotional responsibility than is healthy, believing they know what is best for others and pushing themselves to solve problems that may not be theirs to solve.
So how do you know if this applies to you? There are some clear signs to watch for. If you often feel guilty when you cannot help someone, even when their problems are beyond your control, that may be one sign. If you find yourself constantly offering advice even when it is not asked for, or stepping in to fix situations without permission, that is another sign. You may also struggle with setting boundaries,
feeling as though saying “no” means you are letting others down. People with a messianic complex may believe they are the only ones who can help, and when others resist their efforts, they feel confused or hurt.
When I was still teaching in high school, I had a colleague who cared deeply about her students. She often stayed late to help them with personal issues and took calls from worried parents at all hours. While her intentions were good, she rarely took a rest, felt constantly anxious, and had begun neglecting her own health.
She struggled to delegate tasks or trust that others can step in. Over time, what started as compassion has turned into burnout. Her drive to save everyone made it difficult to care for herself and, ironically, it reduced her ability to be truly helpful.
If you recognize some of these patterns in yourself, you are not alone. Many people fall into this role, especially those who were raised in environments where their worth was tied to being useful or needed. The good news is that there are steps you can take to move toward a healthier, more balanced way of relating to others.
The first step is awareness. Simply noticing when you are taking on too much responsibility can be powerful. Ask yourself: “Is this really my problem to solve?” or “Am I helping, or am I trying to control the outcome?” These questions can help you pause before reacting and offer support in a way that respects both your limits and others’ autonomy.
Next, practice setting clear boundaries. This does not mean becoming cold or distant. It means recognizing that your time and energy are limited. For example, instead of saying yes to every request, you might respond with “I care about what you are going through, but I may not be the best person to help with this.” Offering support does not require sacrificing your own needs. In fact, you are more
Why keeping up with vaccines even as an adult matters
THE news of the death of 48-year-old Taiwanese star Barbie Hsu, fondly remembered by Filipinos as Sancai of the 2000s hit TV series Meteor Garden, not only shocked fans around the country but also served as a stark reminder of the potential complications that can arise from even seemingly mild illnesses like the flu. Hsu’s tragic and untimely passing underscores the importance of staying up to date on vaccinations, even for healthy adults. As emphasized by Dr. Ryan Raymond Y. Bautista of MMC HealthHub from the country’s leading health institution Makati Medical Center (MakatiMed, www.makatimed.net.ph), even minor health issues like the flu or infections may significantly disrupt daily life. They may lead to lost income, increased expenses for medication or hospital confinement, or in some cases serious health complications. Yet, most of these diseases can be prevented by keeping up with one’s vaccines.
“Even if the immune system of adults is fully developed compared to that of a baby or child, it still does not exempt them from contracting preventable and potentially fatal diseases,” says Bautista. “Vaccinations are a crucial preventive measure that can protect individuals from serious illnesses and their devastating consequences. Vaccines contain weakened or inactivated forms of bacteria or viruses, which will allow the body to recognize the diseasecausing organism and produce antibodies to prevent full-blown infections and minimize complications in the future.”
With the flu season now in full swing in the Philippines, MakatiMed enumerates vital vaccines
n FLU VACCINE. A viral infection, influenza (or the flu), is marked by high fever, cough, sore throat, runny or stuffy nose, head and body aches, and vomiting. Of the three types of human flu—A, B, and C—it’s A and B that debilitate you with their severe symptoms. The flu can be fatal because it can lead to severe complications like pneumonia and respiratory failure.
“It takes about two weeks for your body to develop
vaccine protects you for a year.”
n PNEUMONIA VACCINE. Traced to the bacteria Streptococcus pneumoniae, pneumonia is the third leading cause of death across all ages in the Philippines. The disease can cause breathing difficulties, which can affect oxygen levels in the body.
“Adults—particularly senior citizens and those with compromised immune systems—are encouraged to avail of PVC13 [which protects you
effective when you are well-rested and emotionally grounded.
Another useful tool is learning to tolerate discomfort. Often, those with a messianic complex rush to fix things because they cannot bear to see others struggle. But growth often happens through challenges. By stepping back, you may actually give someone the space to develop their own strength. Think of it like teaching a child to ride a bike. If you never let go, they will never learn to balance. Trusting others to figure things out is a gift, not a failure. It can also help to reflect on your motivations. Are you helping someone because it is truly about them, or because it makes you feel valued? There is nothing wrong with wanting to be appreciated, but when your self-worth depends on being needed, it can lead to unhealthy dynamics. Try to find value in who you are, not just in what you do for others.
Finally, consider seeking support for yourself. Talking to a mentor or joining a support group can offer valuable insight to help you develop healthier patterns. You do not have to carry the weight of the world alone. Helping others is a beautiful part of being human, but so is asking for help when you need it. In the end, the goal is not to stop caring but to care more wisely. When you let go of the pressure to be a savior, you create space for real connection, mutual respect, and emotional balance. You begin to offer love and support not from a place of duty, but from a place of peace.
So if you find yourself always rushing to fix other people’s problems, pause and breathe. Remember, being there for others does not mean losing yourself in the process. Sometimes, the best way to help is by stepping back, listening deeply, and trusting that people have the strength to grow on their own. This is not giving up but letting go, which can be the most loving act of all.
against 13 types of pneumococcal bacteria] and PPSV23 [which protects you against 23 types of pneumococcal bacteria],” says Bautista. “For patients over 60 years old and above, PCV13 is given as a single dose, followed by PPSV23 one year later. This series may provide lifetime protection.”
n TDAP VACCINE. Tdap protects against three bacterial infections: tetanus, also known as lockjaw as it causes painful muscle spasms especially in the neck and jaw; diphtheria, which can affect the upper respiratory tract as well as the heart and the nerves; and pertussis, a contagious respiratory infection also known as whooping cough that can lead to disruptive bouts of coughing. All three infections can restrict breathing, which can be fatal.
“Adults are advised to get Tdap vaccine once if they haven’t received a shot before and get a booster every 10 years,” recommends Dr.Bautista. “It’s also given to pregnant women and for adults who are expected to be around newborns like grandparents and caregivers.”
Pain at the injection site, chills, and fever are common side effects of these three vaccines. “These should subside within a few days,” assures Bautista.
The temporary discomfort is certainly a small price to pay for the protection you’ll receive against these illnesses and their potential complications. Getting vaccinated not only benefits your own health and well-being, but also positively affects the health and well-being of your loved ones and the community,” says Bautista. “Make it a point to get vaccinated.”
Okada Manila bags CSR honor at Global Gaming Awards
Okada Manila has been honored with the Corporate Social Responsibility (CSR) of the Year award at the 2025 Global Gaming Awards Asia-Pacific, celebrating the resort’s steadfast commitment to sustainability, responsible stewardship, and meaningful community engagement.
The award recognizes the impact of the Okada Green Heart program—Okada Manila’s resort-wide sustainability initiative that champions environmental conservation, responsible sourcing, food rescue, and social upliftment. Through milestones such as the recycling of 1.37 million plastic bottles and partnerships that promote food security and local agriculture, the program demonstrates how integrated resorts can lead with purpose and care.
“We are deeply grateful for this recognition,” said Byron Yip, President and COO of Okada Manila. “Our mission goes beyond delivering exceptional experiences— we aim to create lasting value for our communities and the planet. Okada Green Heart is a reflection of that promise.”
Okada Manila was also proudly shortlisted for Integrated Resort of the Year, standing alongside the region’s toptier destinations in gaming, hospitality, and entertainment.
Presented by Gambling Insider, the Global Gaming Awards are widely regarded as the most trusted awards in the industry. All nominees are evaluated based on merit, with winners selected by an independent panel of C-level executives. The process is independently adjudicated by KPMG in the Crown Dependencies, ensuring full transparency and fairness.
This win reaffirms Okada Manila’s role not only as a premier destination in AsiaPacific but as a responsible leader helping shape a more sustainable future for the industry and beyond.
Radenta, Shape Robotics Advance Tech Education in the Philippines
programs, and training centers.
Shape Robotics is known for its ground-breaking Fable modular robotics system. This educational robot is now in use in over 12,000 schools and learning institutions worldwide.
Fable can be used with straightforward drag-anddrop coding like Blocky and the more advanced Python, a high-level, general-purpose programming language.
It works with Raspberry Pi and Arduino for extended hardware applications. It has servo motors, sensors, and an AI camera.
The robotic system can be integrated with Google Classroom and Microsoft Teams for assignment tracking
Filinvest City Grows
as well as with a Learning Management System (LMS) for curriculum deployment. Fable supports AI Vision and object detection. It can be used in IoT applications for smart automation projects.
Fable is intuitive, modular, and scalable with quick assembly in seconds. It works on a plug-and-play system with no complex wiring or setup. Students can start building and coding immediately. Its AI and Sensor Integration enables students to work on advanced topics like machine learning and automation.
It supports cross-disciplinary education by integrating robotics with math, science, engineering, and technology. It enhances STEM learning by providing an engaging, hands-on robotics experience that fosters creativity, critical thinking, and problem-solving skills.
Fable is a future-proof investment with expandable modules that grow with students’ learning levels. The robot is durable and robust. They are built with high-quality materials and components to withstand everyday wear and tear, including rough handling and the rigors of the classroom environment.
Shape Robotics put the needs of academe front and center. Fable comes with ready-made, curriculumaligned lesson plans and ample training for educators through workshops and online community support. Video tutorials are available.
The performance metrics of Fable for speed, scalability, and reliability are top shelf. It provides nearinstant Bluetooth/Wi-Fi pairing. A unit can be used for single student projects or large classroom settings. Fable boasts of long battery life for extended use.
Fable comes with top security features. Data privacy is assured, and no collection of personal student data for local software use is allowed. Its Bluetooth/ Wi-Fi connectivity is encrypted. Teachers can restrict certain features and monitor student progress. There is an automatic software update.
Invite Radenta for a visit to present a hands-on demonstration of the latest in robotics education. Call 09190812978, email info@radenta.com, or visit http:// www.radenta.com.
entrance of the new College of Law Building.
Baliuag University inaugurates new College of Law building
BALIUAG University (BU)
celebrated a significant milestone as it inaugurated its new College of Law Building, a cornerstone project of its centenary. The event, attended by faculty, administrators and legal luminaries, highlighted BU’s dedication to academic excellence and societal contribution.
Former Supreme Court Associated Justice Hon. Francis H. Jardeleza (Ret.) officially opened the College of Law, accompanied by Commissioner Lorenzo R. Reyes of the Legal Education Board. The building’s blessing was led by Reverend Monsignor Narciso S. Sampana, P.C., parish priest of the Diocesan Shrine and Parish of St. Augustine, Baliwag City.
Founded on a legacy of leadership in fields like Nursing, Engineering, Business, Education, IT, Graduate Education, and more, BU’s College of Law marks a transformative chapter in its history. President Dr. Patricia B. Lagunda described the event as pivotal, symbolizing homage to BU’s heritage and
Greener with New Creekside Park
landscapes.
Axis Park in Northgate Cyberzone offers employees and visitors a
makes this place different is how everyone—bikers, joggers, dog walkers—shares the space. It really brings the community together.” Here, the city’s outdoor community gathered to enjoy coffee and snacks, music, and entertainment at golden hour. The event encouraged people to linger, connect, and celebrate their shared love for movement, nature, and community.
Filinvest City’s Park System is more than just a collection of open spaces— it’s a living, breathing part of the city that brings nature closer to where people live and work. With the addition of Creekside Park, the system now spans six thoughtfully designed green spaces: Spectrum Linear Park runs through the township’s center and acts as its green spine, connecting the north and south via tree-lined walkways and lush
a bold leap into the future.
Atty. Asteya M. Santiago, Chairperson of the BU Board of Directors, voiced support, framing the endeavor as crucial for advancing human rights and economic justice. Dean Enrique V. Dela Cruz underscored the integration of technology and ethics in legal education, emphasizing the college’s mission to nurture competent, ethical lawyers dedicated to public service.
Commissioner Voltaire G. San Pedro of the Legal Education Board stressed the role of legal education in promoting social justice and simplifying laws for public access. BU’s leadership reaffirmed their commitment to preparing students as socially impactful lawyers, making justice a practical reality. This inauguration signifies BU’s strategic advancement towards fulfilling its founders’ vision. With the College of Law now operational, BU aims to cultivate a new generation of lawyer dedicated to community service and justice.
Reddy Leong, Vice President of Okada Manila’s Corporate Marketing and Communications Division received the award recognizing the impact of the Okada Green Heart program—Okada Manila’s resortwide sustainability initiative.
Radenta’s
Baliuag University (BU) administrators, Reverend Monsignor Narciso s. Sampana, BU College of Law faculty, Baliwag City Administrator Eric V. Tagle and Bulacan Board Member Atty. Pechay de la Cruz; Hon. Justice Francis H. Jardeleza (Retired), BU Chair Atty. Asteya M. Santiago, Legal Education Board Commissioner Lorenzo R. Reyes, Founding Dean Atty. Buko Dela Cruz and guests pose for a group photo by the
Editor: Tet Andolong
BusinessMirror
RETAIL INDUSTRY EXPECTS A REBOUND IN Q2 2025
By Rizal Raoul S. Reyes @brownindio
THE local retail industry
experienced a slowdown in 2024 as net absorption turned negative in the first quarter of 2025 settling at -4,200 sq m due to post-holiday store closures and slower move-ins, according to the latest report of JLL Philippines.
However, Janlo de los Reyes, research and consulting head of JLL Philippines observed aggressive openings in openings persisted in key cities such as Pasay, Makati, Taguig and Quezon City, partially offsetting the closures.
“The food and beverage [F&B] sector remained a primary driver of new store openings. The continued expansion of F&B outlets in malls near central business districts [CBDs] contributed to stabilizing occupancy levels despite the overall negative absorption,” said de los Reyes.
Looking on the brighter side, JLL Philippines anticipates a significant inpouring of approximately 160,000 sqm of new retail space slated for completion in the coming quarters. Further, JLL observed steady inflow of tenants in retail malls near business districts helped stabilize demand in the market.
Retail rents averaged P1,751 per sq m, per month. To retain demand and entice renters, operators kept their rates unchanged.
Meanwhile, Cushman and Wakefield Philippines Director, Head of Research, Consulting at Advisory Services Claro Cordero Jr. thinks the retail sector might experience pressure from a lean season and upcoming supply. However, planned store openings will boost market resilience and signal market resilience.
Cordero said some malls are pursuing renovations to boost consumer experience. The upgrades may lead to higher rents in the medium-term, as improved facilities may increase the perceived value of leasable space.
He said there are signs of recovery of the retail sector as developments are actually present outside of Metro Manila. “We’re seeing significant supply of new
retail and shopping mall developments outside the National Capital Region,” he said.
Cordero said developers are really looking into township planning and township development. As they develop the township projects, naturally there will also be a commercial component of the township. Most of these developments are mid-sized commercial developments to support the township projects. “So, we’re seeing the retail sector to be still resilient, propelled by middle class growth and developers are shifting towards experience-driven retail.”
Building the brand in the Philippines NAMED as the biggest casual dining chain in the US, Texas Roadhouse reported its systemwide sales surged 14.7 percent last year, to $5.5 billion, per Technomic. Further, it also opened 26 new lo -
cations, a 4.1 percent change. The Louisville, Kentucky-based chain has been growing quickly for years. Moreover, Texas Roadhouse is one of the top performing restaurant concepts of The Bistro Group, opening in the Philippines nine years ago.
Jerry Morgan, Texas Roadhouse Chief Executive Officer and Head Coach, recently visited Manila together with Hugh Carroll, President of International and Franchise Development. Morgan credits its people as one of the success secrets ofTexas Roadhouse. The seasoned manager has been with the restaurant chair for 28 years starting from managing partner of one restaurant. “I see the pride that people have in serving communities across America and the world, with high level quality food that we call ‘legendary food’ and the high level of quality of service through our people. It is
EMPIRE EAST EMBEDS ESG IN CORE STRATEGY WITH NEW GREEN INITIATIVES AND DIGITAL SYSTEMS
AS it reached its 30th year in Philippine real estate, Empire East Land Holdings Inc. announced the full integration of Environmental, Social, and Governance (ESG) principles into its long-term business strategy—marking a critical shift from compliance to embedded sustainability across operations.
In 2024, Empire East implemented the 5S Waste Management Framework, expanded the Highland Forest green space within Empire East Highland City, and adopted eco-efficient construction materials across multiple developments. These efforts form part of the company’s active alignment with Megaworld’s MEGreen and AGI’s SustainAGIlity programs— setting the tone for responsible growth across the Alliance Global Group.
“Our sustainability journey is no longer exploratory—but embedded in how we plan, build, and grow,” said Atty. Anthony Charlemagne C. Yu, President and CEO of Empire East during the 2025 Annual Stockholders’ Meeting held virtually. “We are committed to building communities that are not just livable, but also resilient, inclusive, and low-impact by design.”
The company is also accelerating efforts to improve carbon footprint monitoring, with scalable initiatives underway to support sustainable architecture, green mobility, and biodiversity-friendly urban spaces. These moves anticipate both investor expectations and forthcoming regulatory benchmarks in climate and environmental reporting.
In parallel, Empire East pushed forward its digital transformation agenda, launching over 100 automation initiatives to streamline internal workflows while creating smarter, more transparent touchpoints for homebuyers. Platforms such as the “Ask About Your Home” portal and a partnership with Pilipinas Teleserv now enable more efficient access to documents, certificates, and updates—reducing paper use and service friction. Beyond operations, the company also strengthened its community and employee engagement,
continuing its Adopt-a-School Program and launching localized waste education initiatives. Empire East also reported its improved focus on mental wellness, professional development, and inclusive workplace culture.
Looking ahead, the company is earmarking P25 billion in capital expenditures over the next five years to fuel projects that align with UN Sustainable Development Goals (SDGs), with special emphasis on SDG 11: Sustainable Cities and Communities.
“ESG is no longer a reporting requirement—it’s the foundation for value creation,” added Yu. “From our design choices to our corporate partnerships, Empire East is advancing a business model that thrives by uplifting people and protecting the planet.”
exciting to be the leader of a brand that is so well recognized not only in America but also as we continue to make a presence in the world. Our brand of hospitality is built on being friendly to one another and creating an environment where employees want to work in a place where guests want to spend their time and money.”
Success on shared values CARROLL says that Texas Roadhouse is successful in the Philippines because of shared commonalities with the US market. “People in the Philippines love music, dancing, and barbecues, so these are all things we have in common. There is a shared value in spending
time with family and sharing food. These made for a natural entry in the Philippine market.” Morgan adds, “The partnership with The Bistro Group, which has years of success in a franchise environment, is a crucial part of our success in the Philippines. It is important to have a partner that shares the same love for food and service for people and understands and offers the same ‘rowdy’ enthusiasm and energy to our customers here.”
Texas Roadhouse is now present in five countries in the Middle East, also in Korea, China, Taiwan, Mexico, and the US territory of Puerto Rico, with a total of 10 countries and US territories.
Century Properties doubles dividend payout to 20%, declares 5% special cash dividend for 2025
CENTURY Properties Group, Inc. (CPG) has announced a significant enhancement to its dividend policy, reflecting its robust 2024 financial performance and ongoing commitment to shareholder value. At a special meeting on June 16, the Board of Directors of CPG approved the increase in the regular dividend payout for the outstanding Common Shares of the Company from 10 percent to 20 percent of its consolidated net income from the preceding fiscal year, along with the declaration of a 5 percent special cash dividend for 2025.
For 2025, CPG will distribute a total cash dividend of P610,632,830, to be released in two tranches. The regular cash dividend, equivalent to 20 percent of FY2024 net income or P0.042114 per share, has a record date of July 25, 2025, and payment on August 20, 2025. The special cash dividend, on the other hand, equivalent to 5 percent of FY2024 net income or P0.010529 per share, has a record date of September 26, 2025, and payment on October 22, 2025.
“We are pleased to announce our enhanced dividend policy, reinforcing our commitment to more stable and permanent returns for our shareholders and demonstrating our financial strength and long-term profitability,” said Marco R. Antonio, President and CEO of Century Properties Group. “With the increase in the annual cash dividend payout, we are providing our shareholders with a more predictable income stream.
For 2025, we are rewarding them further with a special cash dividend as CPG’s performance in 2024 exceeded expectations.” CPG posted a 31.7 percent in -
crease in net income, rising to P2.44 billion in 2024, up from P1.86 billion in 2023. This strong growth was driven by a strategic realignment of its development model, shifting from longer-gestation projects to faster turnover cycles, particularly in enduse residential developments. This pivot has accelerated revenue realization and improved capital efficiency.
CPG remains optimistic about the Philippine real estate sector citing favorable macroeconomic indicators, sustained consumer demand, and major infrastructure investments by the government as factors that are expected to propel industry growth.
“The company’s 2024 performance lays a solid foundation for sustainable long-term value creation. Our Twin Engine Strategy— anchored on our first-home segment, PHirst, and Century Properties’ more premium brands—equips us to capture opportunities in both affordable and high-end segments. With disciplined financial management and our commitment to regional expansion, we are poised to accelerate growth nationwide,” added Antonio. The company continues to focus on operational excellence and sound financial stewardship, emphasizing its mission to deliver consistent value to shareholders and uplift communities through quality housing developments.
“We are grateful for our shareholders’ continued confidence and support. As we expand our footprint, we remain steadfast in our purpose: to build homes that enrich communities, elevate standards of living, and shape the future of Philippine real estate,” Antonio concluded.
THE Texas Roadhouse team with (back row from left) Hugh Carroll, President of International & Franchise Development; Cyril Reyes, Director for Operations ; Jerry Morgan, Texas Roadhouse Chief Executive Officer and Head Coach; Mary Ann Santiago, director for operations; Mark Stephens, Director of International Operations and Guia Abuel, The Bistro Group COO (5th from right)
JANLO DE LOS REYES
CLARO CORDERO, JR.
KLAHOMA
Jalen Williams scored a career playoffhigh 40 points, MVP Shai GilgeousAlexander added 31 and the
We’re learning,” said Williams, whose previous playoff best was 34.
I t was the 10th—and by far, the biggest—time the Thunder stars combined for more than 70 points in a game. Williams was 14 of 24 from the field and Gilgeous-Alexander added 10 assists.
“It wasn’t a perfect game at all and there’s a lot of room for growth,” Thunder coach Mark Daigneault said. “But our improvement from Game 4 to Game 5 was critical.” Pascal Siakam had 28 points for Indiana, which will host Game 6 on Thursday night.
TJ McConnell added 18 for the Pacers, who whittled an 18-point deficit down to two in the fourth— then watched the Thunder pull away again, and for good.
“It kind of went away from us,” Siakam said. “But the fight was there.” I t was, but now everything favors the Thunder.
Teams that win Game 5 of an NBA Finals that was tied at 2-2 have gone on to win the series 23 times in 31 previous opportunities, or 74 percent. And teams with a 3-2 lead in the finals have won 40 times in 49 previous opportunities, or 82 percent.
But Game 5 was not easy. Far from it. Down by 18 late in the second quarter, the Pacers—the comeback kings of these playoffs, with as many wins in this postseason from 15 points down or more (five) than the rest of the league has combined, including in Game 1 of this series—did what they do, chipping away. And they did it with Tyrese Haliburton reduced to basically playing decoy on offense because of a leg issue that he aggravated in the first quarter.
“He’s not 100 percent,” Pacers coach Rick Carlisle said. “It’s pretty clear.” L ed by McConnell, who scored 13 points in just under seven minutes of the third, the Pacers got within five late in that quarter.
Then, Siakam went to work—a pair of free throws with 9:19 left got Indiana within four, then a three-pointer about a minute later made it 95-93. In the play-byplay era of the NBA, starting with the 1997 playoffs, teams with leads of 15 points or more in the finals were 80-9. AP
Thunder roar and rumble, move a win shy of crown
B8 Wednesday, June 18, 2025 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
‘Magnifico’ excited to be in Pacquiao’s undercard
By Josef Ramos
ARK “MAGNIFICO”
MMAGSAYO is fighting for the second time in his career in an undercard to Hall of Famer Manny Pacquiao’s July 19 fight against reigning World Boxing Council (WBC) welterweight champion Mario Barrios of Mexico at the MGM Grand in Las Vegas. Magsayo’s excited to be in the shadow of the boxing icon.
Just like the first time when I fought under his [Pacquiao] card when I was a featherweight, this is another stepping stone for me,” said the 29-year-old Magsayo, who will face Mexican Jorge Mata Cuellar for the
vacant WBC continental American super featherweight belt in a 10-rounder promoted by the Premier Boxing Champions.
“I’m grateful for the opportunity from my big brother Manny,” he said. “He’s my childhood hero, Manny Pacquiao’s the main reason why I’m in boxing.”
Magsayo was in the undercard of the Pacquiao-Yordenis Ugas fight on August 21, 2021, in Las Vegas where he knocked out Mexican Julio Ceja in the 10th round—Pacquiao, however, lost to the Cuban and announced afterwards his decision to run as Philippine president in the 2022 elections. He became a world champion whe he beat Gary Russell Jr. by majority
decision for the WBC featherweight belt on January 22, 2022, in Atlantic City.
Magsayo is coming with a three-fight win streak, the last against Ecuadorian
Bryan Mercado who he knocked out in the second round in Long Beach, California, last December 14, to improve his win-loss record to 27-2 with 18 knockouts.
Tokyo Olympics bronze medalist
Eumir Felix Marcial is also resuming his professional career against American Alexis Gaytan in an eight-round nontitle middleweight bout under Pacquiao’s MP Promotions.
Cuellar, at 24, is a solid threat to Magsayo’s bid with his 21-2-2 record with 13 knockouts.
De Brito driven with near-term
results, long-term goals for Alas
By Aldrin Quinto
COACH Jorge Souza de Brito is laying the groundwork for continued success that would ensure a reliable system for the Alas Pilipinas Women to adapt to changes as the volleyball landscape evolves. With or without him at the helm.
S quad depth and tactical flexibility are priorities, the Brazilian tactician stressed, amid calls for the Philippine National Volleyball Federation (PNVF) to keep the team core intact after the inspiring silver-medal finish at the Asian Volleyball Confederation (AVC) Nations Cup in Hanoi.
T he master list is at 25 players and De Brito stressed the roster will remain fluid as the national squad faces different situations in various tournaments such as the Southeast Asian Games.
“I t’s hard because if you’re just thinking about final results and temporary results, you forget the rest of the process,” De Brito told the BusinessMirror
“It’s a process that we have to pass through, to always bring in new talent and give them exposure,” he added.
Bella Belen and Alyssa Solomon, on De Brito’s wish list seasons ago, along with rising star Shaina Nitura quickly found their groove with Jia Morado and Angel Canino, among the top performers for two consecutive years at this level in the AVC.
And with the vast improvement of middle blocker Dell Palomata and the rest of the squad, Alas Pilipinas managed to move one step up the podium, giving the Philippines its best-ever finish at the continental level.
T he squad also had Jen Nierva, Dawn Catindig, Eya Laure, Fifi Sharma, Thea Gagate, Vanie Gandler, Julia Coronel and Cla Loresco.
Vietnam proved a little too tough in the final and the Philippines absorbed a three-set loss to the hosts and wound up with the silver medal in the rebranded Nations Cup a year after claiming the Challenge Cup bronze.
Is the top step on the podium achievable in a year?
De Brito, whose contract ends in mid-2026, is not looking past the immediate tasks.
“I don’t work by periods, I work for targets. My own targets and that of the federation, so it doesn’t matter, because I can die during the process and the team would be okay,” said De Brito, who was given an extension after his first term ended in June last year after that bronze medal finish.
Alas Pilipinas Women is set for battle in the VTV International Women’s Volleyball Cup in Vietnam and the twoleg Southeast Asian V.League.
T hen it’s the heavily-touted Southeast Asian Games at the end of the year.
PNVF and AVC president Ramon
“Tats” Suzara noted that goals vary, and while the SEA Games is not sanctioned by the world governing body FIVB, other events give Alas Pilipinas a chance to move up the ladder and see action in more elite competitions.
The Philippines rose 10 places to 46th in the FIVB rankings after the silver medal performance in Hanoi. One of the main targets this year is the SEA Games, but as you all know it is not on the calendar of the FIVB and you are also aware it offers no world ranking points,” Suzara said.
“That’s why the AVC Nations Cup and the SEA V.League are also very important for us.”
Still, Suzara is counting on Alas Pilipinas to challenge the perennial SEA Games contenders, although Thailand has held on to the title since 1995 and just two years ago returned to the top of the continent with gold in the Asian Women’s Championship. The Vietnamese have been a tough nut to crack but the Philippines has finished close behind in recent meets, including two SEA V.League legs last year and just last week, the Nations Cup.
“Now that they see improvement in the Philippine women’s team, they should watch out,” Suzara said.
Gonzaga, Naredo dominate junior tennis tourney
AYL GONZAGA and Julio Naredo delivered dominant performances to snatch two victories in their respective divisions in the Fortheo National Junior Tennis Championships at the Jethro Sports Center in Valenzuela City recently.
The top-seeded Gonzaga lost just three games in two events— she overpowered sixth-ranked Natasha Gabriel, 6-0, 6-1, in the 14-and-under finals, then returned with a more hard-fought 6-3, 6-3 triumph over the same rival from Silang, Cavite, to clinch the 16-and-under crown in the Group 2 tournament which lasted two weeks because of the large number of participants.
The third-ranked Naredo swept Ole Paulsen, 6-0, 6-0, in the boys’ 16-and-under final, then crushed No. 2 seed Reden Escultor Jr., 6-3, 6-0, to claim the 18-and-under trophy as the Quezon City native matched Gonzaga’s two-title haul in the tournament backed by Tier One Architects, Threema, Ckap Roofing, Scrambowl and Altiche Tennis School.
The other winners in the event, a part of the nationwide talentsearch under the Palawan Pawnshop program initiated by president
He was four strokes behind the leader in the middle of the final 18 holes.
But he clung on to his belief, conviction, that he would score a surprise at the finish line.
Providential? After birdieing 17, he sank the putt of his life when his curling 65-footer on 18 impossibly, incredibly, found the hole.
“It is a moment that I will forever remember in my life,” Spaun said, his one of two daughters dangling happily in his arms.
By sticking spiritedly to his plan of staying focused all day long, he wiped out the stigma of those five bogeys in a six-hole stretch by submitting an even par 72. That was a solid enough finish as he signed for a one-under total, becoming the only player to break par after 72 holes.
“This is something that I will cherish in a lifetime,” he said. “To dream is to win.”
So ecstatic was Spaun that he ordered his team—coach, caddy and supporters—to kiss the championship trophy.
A nd do you know that Spaun has Filipino blood running in his veins?
His mother is a Filipina-Mexican whose parents’ roots are in Victoria, Tarlac. And for his feat, Spaun became the fourth winner of a major US golf event of Filipino descent after
THE Thunder’s Jalen Williams shoots against the Pacers’ TJ McConnell during a second-half action in Game 5 of the National Basketball Association Finals on Monday in Oklahoma City. AP
ASIAN and national volleyball federation president Ramon “Tats” Suzara (with microphone) explains a point as (from left) Dell Palomata, coach Jorge Souza de Brito and Jia de Guzman look on.
AYL GONZAGA and Julio Naredo beam with pride as they hold their individual and Most Valuable Player trophies with Fortheo president Lucky Angeles (left) and manager Camille Angeles in Valenzuela City. and CEO Bobby Castro, included local standout Melatiah Pascua, Bataan’s Isabel Calingasan, Laguna’s Tyronne Caro, Quezon City’s Gabriel Vitaliano and Makati’s Liam Harrow. The unranked Pascua stunned top seed Angeli Quiñones, 6-1, 6-0, in the semifinals before repeating the score line against May Bautista to capture the girls’ 18-and-under trophy.
And the winners are...
Top performers of the International Container Terminal Services Inc. Intercollegiate Tour, led by individual champions Julia Lua (front row, fourth from left) and Perry Bucay (second row, fourth from left), both of DeLa Salle, pose during the awards ceremony of the one-day preview event at Sherwood Hills Golf Club in Cavite on Monday. The four-leg Tour officially tees off July 18 in Batangas.
MARK “MAGNIFICO” MAGSAYO trains with Manny Pacquiao as the newly-installed Hall of Famer trains for his fight in July in Las Vegas.
