ANALYSTS SEE BSP
50-BPS RATE CUTS
By Lenie Lectura @llectura
impact of rising fuel prices, as global markets quoted steady increases with the escalation of tensions in the Middle East.
An oil company said Sunday that pump prices are expected to further go up on Tuesday compared to previous estimates.
Jetti Petroleum Inc. projected last Saturday that diesel prices to go up by as much as P5.10 per liter and gasoline by P3.4 per liter more. On Sunday, Jetti President Leo Bellas said pump prices will continue to soar after US forces bombed three nuclear sites in Iran at the weekend. “The estimated increase could rise further. Diesel could in-
crease more than P5 per liter,” said Bellas.
On Sunday, estimates for June 24 of fuel price increases rose from the June 20 Department of Energy projections after the US intervention against Iran. The updated projections had diesel rising per liter by P5
to P5.20; gasoline by P3.30 to P3.50; and kerosene by P4.50 to P4.70.
Oil companies adjust their pump prices every week to reflect movements in the world oil market.
“The potential increase in premium and freight, which are projected to rise because of the expanded scope of hostilities, could be factored in the expected movement on domestic prices,” said Bellas. “We will know the effects on the freight and premium as soon as trading commences early tomorrow morning,” Bellas said.
Last Friday, Department of Energy-Oil Industry Management Bureau (OIMB) director Rodela Romero said based on the four-day trading in Mean of Platts Singapore, the benchmark trading of oil importers, gasoline is already poised to increase from P2.50 to P3 per liter, diesel from P4.30 to P4.80 per liter and kerosene from P4.25 to P4.40 per liter. The DOE is expected to meet the oil firms Monday to discuss proposals on how rising fuel prices could be tempered. For one, the agency will appeal for a staggered implementation of the price increase.
“We will discuss the implementation of the price increase on staggered basis, promos and discount offerings of stations, among others,” Bellas commented. The DOE’s immediate priority is to ensure that fuel supply remains stable and sufficient, and that any local price adjustments are managed in a way that minimizes disruption to the economy, DOE officer-in-charge
brings
OFWs flee to Jordan as US enters Israel-Iran war
By Malou Talosig-Bartolome
THE
Bulacan International Airport of tycoon Ramon S. Ang. Remulla was Cavite governor when plans to develop SPIA were finalized. He said the target is to begin the airport’s construction by “this year” and complete the first phase of the project, “in two years (2027) because it’s just a runway upgrade.” The first phase of the project, which costs $2 billion, involves the reclamation of 500 meters to extend the current 2.8-kilometer runway to 3.3 km, to allow a Boeing 777 to land. The B777 aircraft line is the largest twinjet and most-built widebody aircraft in the world, and can accommodate from 301-368 passengers.
(See related story: https://businessmirror. com.ph/2025/06/20/pinoys-in-israel-irantold-go-home-now/)
Philippine Ambassador Aileen Mendiola, along with personnel from the Department of Migrant Workers (DMW) and the Overseas Workers Welfare Administration (Owwa), assisted the 26 OFWs in crossing the Allenby Border between Israel and Jordan. Mendiola said the Embassy facilitated their transportation, transit visas, travel documents, and plane tickets to the Philippines. Before their journey, the OFWs stayed at a DMW shelter, received relief packages, and were briefed on the financial support available to aid their reintegration into Philippine society. Mendiola also urged departing OFWs to seek
The first phase will also include an extension road access: “It will just take 20 minutes from here [City of Dreams] to the airport using Cavitex,” said the DILG chief during an open forum after his keynote address at the Hotel Sales and Marketing Association (HSMA) Sales and Marketing Summit on June 19, 2025. Completion of the project, he said, will be an immense boost to visitor arrivals in the country, as the Ninoy Aquino International Airport can no longer accommodate more international flights due to its limited slots.
‘We’re good’, Remulla says of RSA IN his speech, Remulla also listed the government projects being undertaken to secure the safety of tourists especially in Metro Manila, which he said was the cause of the sluggish visitor arrivals in the country. (See, “Tourists aren’t coming to the
psychosocial assistance to help them cope with the war trauma that they experienced in Israel.
According to the Embassy, another group of 33 OFWs has signed up for the second round of voluntary repatriation.
About 30,000 Filipinos are in Israel—most of them caregivers. But only 191 have expressed their intent to return home. Since Iran’s counterattacks following the June 13 strikes, eight Filipinos have reportedly been injured.
DFA Assistant Secretary Roberto Ferrer said most OFWs in Israel are already accustomed to the risks of living in a conflict zone.
“It’s like a typhoon here. When it’s over, we return to our normal lives. Only the relatives in the Philippines are worried. The OFWs in Israel—
PHL because they don’t feel safe—Jonvic,” in the BusinessMirror, June 20, 2025.)
SPIA is a partnership between the Cavite government and private investors composed of India’s GMR Airports, the Yuchengco-led House of Investments, the Pangilinan-led Cavitex Holdings Inc., the Samsung C&T Corp and MacroAsia Corp. of the Lucio Tan Group. Upon completion of the SPIA, which costs a total of $11 billion, there will be four runways and terminal facilities that can accommodate 75 million passengers annually.
“We’re just one runway,” he said of the SPIA, “we’re not competing with them [Bulacan]. We’re just the alternative runway,” when asked if he’s had talks with Ang, who is building the latter. “We’re good,” said Remulla of his relationship with the business tycoon. Ang also leads the New Naia Infrastructure Corp., which won the right to modernize Naia
they’re not,” Ferrer added.
A Filipino caregiver earns a minimum of P75,000 and gets medical benefits and life and disability insurance. Some more experienced OFW caregivers earn higher than the minimum wage.
Ferrer said DFA Secretary Enrique Manalo elevated the alert levels primarily to “activate” the contingency plans across Philippine government agencies should the conflict escalate into full-scale war.
Meanwhile, the 21 mayors, vice governors, and other government officials earlier stranded in Israel returned to Manila early Saturday morning. They shared harrowing experiences, saying they were traumatized when Israel’s Iron Dome defense system failed to intercept some Iranian missiles. They
“26 OFW’s” A12
facilities and improve its services over 15 years. With improvements, Naia’s passenger capacity will rise from 43 million to 62 million annually.
For 25M passengers
WITH the first phase of the SPIA project completed, Remulla said it will be able to accommodate 25 million passengers to help support Naia. “That’s the number one complaint of airports, they don’t have enough landing rights. Naia is now servicing 38 million passengers, but it was just built for 30 million, so it’s already 20-25 percent overcapacity.”
He noted that carriers from India, the United Arab Emirates, South Korea, Japan, and the United States are asking for more flights to Manila, “except we just don’t have the slots anymore and nobody wants to land in Clark because it’s too far. Sangley is the option we have today.”
take the RRP rate to a below-neutral 4.75 percent,” Nomura said in the latest Asia Insights.
This 50-bps reduction in rates, Nomura said, may be delivered in two cuts expected in August and in October. These cuts will be supported by low inflation that is expected in the next few months.
Nomura’s inflation forecast for the Philippines this year remains at 1.8 percent in 2025, which is close to the recent month-ahead forecast of the BSP at 0.9 to 1.7 percent (https://businessmirror.com.ph/2025/05/31/bsp-sees-may-inflation-slowest-since-october-2019/).
In May, the Philippine Statistics Authority (PSA) said inflation averaged 1.3 percent, a 66-month low. (See: https://businessmirror.com.ph/2025/06/05/food-prices-highamid-inflation-at-66-month-low/).
“We would argue that, because the starting point is relatively low (the latest reading in May was at 1.3 percent year-on-year), any impact from the recent increase in oil prices, barring another surge that is eventually sustained, will still likely be insufficient to drive inflation up to within BSP’s 2-4 percent target,” Nomura said.
ANZ Research’s take MEANWHILE, ANZ Research shared the view that the BSP could cut rates by 25 bps in the third quarter and another in the last quarter of the year.
ANZ Research said this expectation stemmed from BSP’s inflation forecast of 1.6 percent for 2025; a terminal rate of 5.00 percent would imply that real rate would still remain elevated at 3.4 percent.
“The BSP highlighted the need for a more accommodative monetary policy stance at today’s meeting and expects to cut rates one more time by 25bp in the next meeting to 5.00 percent if ‘things remain on track’,” ANZ Research said.
“A closer look at the real interest rate shows that it has risen to nearly a 10-year high in recent months amid rapidly easing inflation,” it added. However, risks to this outlook, Nomura said, include escalating tension in the Middle East that
“An
“BSP also highlighted in the policy statement today that the monetary board will ‘continue to assess the impact of prior monetary policy adjustments’, which in our view suggests BSP could pause, if the domestic economy shows signs of improvement in the short-run’,” it
ph/2025/06/22/no-painless-options-tocushion-oil-shock/).
The Department of Energy (DOE) Oil Industry Management Bureau (OIMB) has already warned that the country should brace for a “major oil price shock” in light of the “looming Israel-Iran conflict [that] threatens critical global shipping passage.”
The conflict between the two countries risks a closure or disturbance in the Strait of Hormuz, where about 20 percent of the world’s oil supply passes, according to the United States Energy Information Administration. Earlier, news reports said two oil tankers collided in the Gulf of Oman, near the Strait of Hormuz, but authorities said there was no connection between that incident and the ongoing conflict between Israel and Iran. The incident came amid supposed reports of GPS interference experienced by certain vessels transiting through the Strait of Hormuz.
See
House panel hails Ombudsman for initiating investigation of VP
THE House Committee on Good Government and Public Accountability on Sunday welcomed the prompt action of the Office of the Ombudsman in launching a preliminary investigation into alleged misuse of public funds by Vice President Sara Duterte and others, calling it a “strong affirmation of the weight and integrity” of the Lower Chamber’s committee’s findings.
Manila Rep. Joel R. Chua, chairman of the House Committee on Good Government and Public Accountability, said this swift response sends a clear signal that the Ombudsman has found prima facie evidence sufficient to proceed.
“It is both unusual and significant that the Ombudsman proceeded directly to preliminary investigation and issued subpoenas to the respondents—skipping the usual fact-finding phase—all within the same week that we furnished them with a copy of the Committee Report. This kind of swift response sends a clear signal: the Ombudsman has found prima facie evidence to warrant a preliminary investigation on the basis of the committee report,” Chua said. According to Chua, no formal complaint aside from the House-approved committee report was filed, underscoring the report’s strength.
“The Ombudsman acted purely on the strength of our Committee Report. We have not yet even attached or submitted the supporting evidence for the committee report. That alone speaks volumes,” he added.
Chua also pointed to a notable shift in
the Ombudsman’s position.
“Just a few months ago, Ombudsman [Samuel] Martires publicly stated that he saw no grounds to investigate the Vice President. That he now believes otherwise shows that the facts uncovered by our committee could no longer be ignored,” he added.
Chua affirmed the committee’s readiness to actively participate in the Ombudsman’s investigation.
“Since the Ombudsman has effectively treated our committee report as the initiating complaint, we are prepared to fulfill our role as the complainant and ensure the process is based on truth, fairness, and accountability,” he said.
He added that the committee will formally seek permission to submit replies to any counter-affidavits from respondents, along with complete transcripts and other evidence referenced in the report.
“The ombudsman will need to see the evidence supporting the committee report. We want to make sure this is not just a speedy process but a credible one,” Chua stressed.
He said the committee will cooperate fully to ensure that all parties are given a fair and reasonable opportunity to present their side, as we likewise present the truth uncovered through months of legislative inquiry.
“Ultimately, this is about accountability. We are not rushing to judgment. But we owe the Filipino people a full and impartial investigation—and we are committed to seeing it through,” Chua added.
Jovee Marie N. dela Cruz
De Lima to Sara allies in Senate: Have delicadeza, recuse from case
By Jovee Marie N. dela Cruz @joveemarie
WHILE the prosecution cannot force any senatorjudge to inhibit, former senator and incoming Mamamayang Liberal Rep. Leila de Lima said certain senators aligned with Vice President Sara Duterte should voluntarily recuse from participating in her impeachment trial.
“There is a clear basis—legal and justified,” said de Lima over the weekend, referring to the public statements and actions of pro-Duterte senators. “But the decision to recuse ultimately lies with them. It must be voluntary.”
De Lima raised concern over the conduct of some senatorjudges who had previously joined Duterte on foreign trips and publicly expressed support for her despite the pending trial. She pointed specifically to
Senators Imee Marcos and Robin Padilla, who accompanied the vice president to Kuala Lumpur even after the Senate had convened as an Impeachment Court.
The issue gained traction after Sen. Ronald “Bato” dela Rosa filed a motion to dismiss the impeachment case, drawing criticism from civil society groups, legal experts, and academic institutions.
De Lima emphasized that several senators have begun acting less like neutral adjudicators and more like defense lawyers, echoing talking points that appear aligned with Duterte’s narrative.
“It’s glaring,” she said. “Imagine, two senators even flew to Kuala Lumpur with the Vice President. How can that be acceptable for a sitting impeachment court judge?”
While the prosecution cannot compel any senator to recuse, de Lima said the ethical burden lies with the senatorjudges themselves.
“There is a strong basis for inhibition. It’s undeniable,” she said.
“Endorsing Duterte for president while sitting in judgment over her is clearly improper.”
De Lima also questioned the propriety of a senator-judge initiating a motion to dismiss the case.
“In what court does a judge file and move for dismissal of the very case they’re hearing? That just doesn’t happen,” she said. Ultimately, she said, it’s a matter of conscience and integrity.
“It’s up to the concerned senator-judges to reflect on their sense of propriety—if they still have delicadeza,” de Lima said. “Given their past conduct, the ethical course should be clear.”
When asked about the public’s expectations, De Lima stressed that Filipinos have the right to a full and transparent trial.
“The people deserve to know the truth,” she said. “This is not political persecution, as some claim. My own case was political persecution. This impeachment, however, is about truth, justice, and accountability.”
Lacson chides Impeachment Court spox on statements
By Butch Fernandez @butchfBM
It is only the senator-judges, and not the presiding judge of the Senate impeachment court, who can decide to refrain from making public comments on the issues surrounding the pending trial of Vice President Sara Duterte, incoming Sen. Panfilo Lacson said on Sunday.
Earlier, the Impeachment Court spokesman, Reginald Tongol, was quoted as saying that the senatorjudges will not yet be prohibited from making such public comments, thus implying that the Presiding Judge has the authority to issue a gag order.
“Only the senator-judges, not the presiding officer—after agreeing among themselves, or at least a majority of them—can
decide not to make public comments on issues pertaining to the impeachment case,” Lacson said in a Post on X. Lacson will serve as one of the senator-judges in the impeachment trial of Vice President Sara Duterte, should the trial cross over to the 20th Congress.
In addition, Lacson voiced concerns over Tongol’s previous statement where he was quoted as saying that he would file a motion to dismiss, “if I were the Vice President.”
He chided Tongol for potentially telegraphing the moves of the defense with his statement—which House prosecution panel spokesman and lawyer Antonio Bucoy had branded as “inappropriate.”
Tongol was quoted as saying in a news forum on Saturday that the presiding officer “believes” that at least for now, the discussion of the issues being presented before the court is “healthy.” Tongol added Rule 18 of the Senate Rules of Procedure on Impeachment Trials, where the presiding officer and the members of the Senate shall “refrain from making any comments and disclosures in public pertaining to the merits of a pending impeachment trial,” will be used “sparingly.”
“Tongol, being the spokesman of the entire impeachment court, should not limit himself to the sentiment of the presiding officer,” Lacson stressed.
Marcos–Govt will not tolerate Chinese bullying
PRESIDENT Marcos said the government will not tolerate China’s bullying of Filipino fishermen at the Panatag Shoal, which he said is part of the Philippines’ maritime territory
In his video blog posted in his social media page during the weekend, the Chief Executive warned China against hindering Filipino fishermen from accessing Panatag Shoal.
“Don’t block us in our territory. We’ll really going fight for that,” he said in Filipino.
He reiterated that the government under his administration will not give any inch to China, which continues to claim almost the entire South China Sea (SCS) including its
parts within Philippine territorial waters such as the Panatag Shoal using force.
The 2016 international arbitral court ruling, however, voided the said claim of China.
“We did not yield. We continue to protect the sovereignty of the Republic. We continue to defend the territory of the Republic. And we continue to protect and defend the people of the Republic,” Marcos said.
The most recent of the incidents of aggression by the Chinese Coast Guard (CCG) was on June 20, when its ships rammed Bureau of Fisheries and Aquatic Resources boats.
The National Maritime Council (NMC) condemned the incident, which it said is a a violation of the United Nations Convention on the Law of the Sea (Unclos) and the 2016 Arbitral Court ruling.
Despite the said provocations, NMC said the country is ready to defend its sovereignty and support its fishermen.
“We call on China to cease unlawful actions, act with restraint, and adhere to international law to maintain regional peace and stability,” NMC said in a statement issued on Sunday. Samuel P. Medenilla
On the same day, a CCG vessel 4203, also fired its water cannon at a Philippine ship, BRP Datu Matanam Tradapit, which is delivering essential supplies to Filipino fishermen.
By Bless Aubrey Ogerio
MORE than 800 families in Negros Occidental have received a total of P4.3 million in financial assistance from the National Housing Authority (NHA) under its Emergency Housing Assistance Program (Ehap). Ehap is designed to support households whose homes were damaged or destroyed by past typhoons. It provides cash grants to families affected by natural disasters to help them rebuild and recover from the impact of calamities. ₧4.3 million shelter aid reaches Negros families
DOTr aims to get construction of unified rail hub in QC to get going in ’25
By Lorenz S. Marasigan @lorenzmarasigan
THE Department of Transportation
(DOTr) is aiming to award a new contract within the year to resume construction of the long-delayed Unified Grand Central Station in Quezon City. Transportation Secretary Vivencio Dizon said the government is aiming to complete the bidding process before December this year, as it hopes to finish the project—mired in legal and construction setbacks since its inception nearly two decades ago—a year after.
Negros.
. .
Continued from A4
A total of 256 families from Bacolod City, 75 from Bago City and 481 from Silay City were covered in the latest round of distribution.
“This is part of the directive of President Marcos to ensure government support reaches every Filipino family affected by disasters,” NHA general manager Joeben Tai said in Filipino.
Tai added that the agency remains committed in helping communities get back on their feet after calamities through emergency shelter assistance and continued coordination with local government units.
The NHA also announced that it will roll out additional EHAP distributions in the coming weeks, targeting typhoon-hit households in the municipalities of Binalbagan and Don Salvador Benedicto.
M“The goal is we want to award [a new contract] by this year so that by January, we recommence construction and finish by the time MRT 7 is operational by 2027,” he said at the Economic Journalists Association of the Philippines (Ejap) Infrastructure Forum last week.
project in 2021.
Construction work at Area A of the common station stopped earlier this year after the government decided to terminate its contract with BF Corp. and Foresight Development and Surveying Co. (BFC-FDSC), citing “inordinate delays” that have kept the major commuter hub idle for more than a year.
BFC-FDSC was supposed to finish the
The idea was first proposed during the Arroyo administration. However, the project was bogged down for years owing to legal disputes, right-of-way issues, and design and location disagreements, particularly over whether it should be built near Sy-owned SM North Edsa or Ayala-owned Trinoma.
Two administrations later, all parties reached a compromise, leading to the partial
LandBank launches food security project
ALAYBALAY CITY, Bukidnon—As
part of its nationwide thrust to strengthen food security and drive rural development, LandBank launched its flagship Agrisenso Plus Lending Program in this city, the project’s first major rollout in Mindanao.
More than 1,200 small farmers, fishermen, and agrarian reform beneficiaries (ARBs) from the province attend the event, reinforcing the Bank’s commitment to incease financial access and support for agri-based communities.
Finance Secretary and LandBank Chairman Ralph G. Recto commended the initiative, which is in line with President Marcos’ goal to boost the agriculture sector, accelerate rural development, and strengthen the country’s food security.
“Ang programang ito ng LandBank at ni Pangulong Marcos ay isang konkreto at inklusibong sagot sa matagal na ninyong panawagan para sa tulong pinansyal. Ito ay programang may malasakitkamay ang pagasenso ng bawat magsasaka at mangingisda,” Recto said in a message during the launch event on at the Kaamulan Theater, Kaamulan Grounds, Malaybalay City.
The Agrisenso Plus Lending Program launching in Bukidnon is the fifth in a series of nationwide rollouts, following successful launches in Pampanga, Cagayan, Isabela, and Batanes, which collectively engaged more than 3,800 farmers from
Northern and Central Luzon.
LandBank President and Chief Executive Officer
Lynette V. Ortiz led the program launch, together with Bukidnon Gov. Rogelio Neil P. Roque and Agriculture Undersecretary Roger V. Navarro. Also present were Philippine Guarantee Corporation President and CEO Albert E. Pascual, Malaybalay Mayor Jay Warren Pabillaran, LandBank Executive Vice Presidents Ma. Celeste A. Burgos and Leila C. Martin, and farmer leader Bambi A. Lagata from Jasaan, Cabansalan.
“Bukidnon plays a vital role in ensuring food security for Mindanao and the rest of the country. With its rich soil and favorable climate, the province continues to lead in the production of rice, corn, sugarcane, pineapple, coffee, and many other high-value crops. Our efforts through Agrisenso Plus are also in step with the Provincial Government’s agenda of building a stronger economy and increasing agricultural productivity,” said Ortiz.
The Agrisenso Plus Lending Program is LandBank’s comprehensive value chain-based financing initiative, developed in partnership with the DA, Department of Agrarian Reform (DAR), Agricultural Credit Policy Council (ACPC), and various private sector stakeholders.
The program offers a fixed interest rate of 4.0 percent per annum for small farmers, fishermen, and ARBs, with competitive rates for their
awarding of construction contracts.
Despite some initial progress, construction slowed and then halted altogether due to the pandemic and alleged failure of the government to pay the progress billings of the contractors.
“This is like 17 years already since it was first planned,” Dizon said. “We’re now finding the fastest possible way to continue and finish it finally.”
associations and organizations, micro, small, and medium enterprises (MSMEs), large enterprises, anchor firms, and agriculture graduates.
Under the Agrisenso Plus Program, eligible borrowers benefit from simplified documentation requirements, free life and credit life insurance, and expanded access to financing and technical support across a wide range of agricultural activities.
The Program also connects borrowers to market opportunities through partnerships with anchor firms, namely Kita Agritech Corporation, Sarisuki Stores, Inc., TAO Foods Company, Inc., Yovel East Research and Development, Inc., and Unified Tillers Agriculture Cooperative (Utac).
Agrisenso Plus is reinforced by the LandBank Ascend (Agri-Fishery Support through Capability Enhancement for Nationwide Development) Program, a capacity-building component that provides farmers and fishermen with training on digital financial literacy, sustainable agriculture, and enterprise development.
As of May 2025, LandBank has extended a total of P1.16 billion in loans through Agrisenso Plus, directly benefiting 6,853 borrowers and advancing growth across the agriculture sector.
TP5.18
for its
feeding program for children in day-care centers.
In a press briefing in Malacañang on Tuesday, Social Welfare Secretary Rexlon T. Gatchalian said the new initiative will provide P25-meals to 1.5 million pupils, who are enrolled in Child Development Centers (CDC) nationwide.
“This will ensure that the children who will be participating in this supplemental feeding program in our child development centers are receiving sufficient nutritional value,” he said. The program, which will start this month, will last for 120 days, but it may be able to expanded to 180 days by the implementing local government (LGU) if they will be able to procure meals, which are lower than P25 per meal, from their communities.
The prepared meals are based on the recommendations of the National Nutrition Council.
“As a general rule, our preferred modality is [for the funds] to be downloaded to the local governments and they themselves conduct the community procurement and we encourage central kitchens or community kitchens in the daycare centers themselves,” Gatchalian said.
“Sometime they’ll [LGUs] go lower than the 25 pesos. So, we encourage them to reinvest in more food for the children,” he added.
DSWD explained feeding program funds, which will be distributed per CDC, will depend on the number of their enrolled students.
Prior to the start of the program, the beneficiaries, who will be aged three to five-years old, will have their weights taken so it can serve as baseline to determine if they will show any weight improvement by the end of the program.
“The local governments have their ‘Operation Timbang’ where in the midline of the [CDC feeding] program they are weighed again and at the end of the program. Regular monitoring and the data that they gather is submitted to DSWD,” Gatchalian said.
The initiative is part of the efforts of the Marcos administration to reduce incidents of involuntary hunger. Samuel P. Medenilla
DA hopes for good rice, corn harvest
By Ada Pelonia @adapelonia
THE Department of Agriculture
(DA) is banking on improved weather conditions and enhanced government interventions to boost the country’s rice and corn output in the second quarter.
Agriculture Secretary Francisco Tiu Laurel Jr. noted that given the latest output projections from the Philippine Statistics Authority (PSA), the second quarter could build on the momentum seen at the beginning of the year.
the reference period last year. The latest figure was also the same level as posted in the January to March period of 2023.
For the second quarter, the state statistics agency expects palay output to reach 4.36 million metric tons (MMT), up 13 percent from last year.
This growth will be driven by expanded harvest area, up 9.2 percent to 972,730 hectares, along with improved yield expected to hit 4.48 metric tons (MT) per hectare, from 4.32 MT in 2024.
(NFA).
Currently, the grains agency purchases palay from farmers ranging between P18 and P24 per kilo.
Meanwhile, PSA data also projects corn output to jump in the second quarter to 1.487 MMT, 27 percent higher than last year. The harvest area is set to expand by 16 percent to 402,690 hectares.
“These numbers are encouraging, but this is just the beginning,” Laurel said.
Onion importation set to avoid shortage
THE Philippines will import red and yellow onions to plug the projected shortfall in the fourth quarter, the Department of Agriculture (DA) said.
Agriculture Secretary Francisco
Tiu Laurel Jr. confirmed that the DA would approve onion imports as allium inventories were expected to thin out in the latter part of the year, based on the latest government data.
volume of red onions that will be harvested until June 30 would reach about 5,000 MT. These additional stocks are expected to last for 163 days or until November 16.
“But we must not let our guard down. We are doubling down on efforts to increase food production while boosting farmer incomes,” Laurel said in a statement.
PSA data indicated that the agriculture sector rebounded by 2.2 percent in the first quarter, higher than the 0.5 percent recorded in
The DA attributed the increase in rice production to favorable weather, increased government support through the National Rice Program (NRP), Rice Competitiveness Enhancement Fund (Rcef), and stronger palay procurement by the National Food Authority
“With sustained funding support for rice programs, we remain fully committed to achieving food security by end-2028, in line with the President’s vision.”
Rice and corn production are major contributors to crop production, accounting for about 57 percent of the country’s agricultural output.
High-tech beehives combat pollinator crisis with AI, robotics
By Brian Kahn
IFTING up the hood of a
LBeewise hive feels more like you’re getting ready to examine the engine of a car than visit with a few thousand pollinators.
The unit—dubbed a BeeHome—is an industrial upgrade from the standard wooden beehives, all clad in white metal and solar panels. Inside sits a hightech scanner and robotic arm powered by artificial intelligence. Roughly 300,000 of these units are in use across the US, scattered across fields of almond, canola, pistachios and other crops that require pollination to grow.
It’s not exactly the romantic vision of a beehive or beekeeper lodged in the cultural consciousness, but then that’s not what matters; keeping bees alive does. And Beewise’s units do that dramatically better than the standard hive, providing constant insights on colony health and the ability to provide treatment should it start to falter.
The US has observed a startling uptick in the number of die-offs since the mid-2000s as beekeepers have struggled to keep pace with the rise of disease-carrying mites, climate extremes and other stressors that can wipe out colonies. That’s endangering billions of dollars in crops from almonds to avocados that rely on the pollinators. This past year saw the worst colony losses on record. Beewise has raised nearly $170 million, including a $50 million Series D earlier this month, and it has a plan to change the industry. AI and robotics are able to replace “90 percent of what a beekeeper would do in the field,” said Beewise Chief Executive Officer and co-founder Saar Safra. The question is whether beekeepers are willing to switch out what’s been tried and true equipment.
Ultimately, the fate of humans is tied to that of bees. Roughly 75 percent of crops require pollinators, with nuts and fruits particularly dependent. While other species of bees and insects can play a role, they can’t replace honeybees.
“There would essentially be no crop without the bees,” said Zac Ellis, the senior director of agronomy at OFI, a global food and ingredient seller.
The beehive hasn’t seen much technological innovation in 170 years. The Langstroth hive, named after the American reverend who patented it in 1852, is a simple wooden box with frames that can house the queen and her worker bees, larvae and honey.
“Langstroth hives are easy to work with, break down, build up,
manipulate frames, make splits” and move, said Priya Chakrabarti Basu, a Washington State University bee researcher.
These boxes are the backbone of the agriculture industry and the high-value crops that are heavily reliant on the 2.5 million commercial hives that crisscross the US on semi-trailers. Beekeepers with thousands of hives will travel from as far away as Florida to provide pollination services for California’s $3.9 billion almond crop in spring before moving on to other states and crops.
“Almonds are one of the largest pollination events in the world,” said Ellis, who uses Beewise’s hives on 30 percent of the acres he manages. “Typically, a grower needs two hives per acre,” each with up to 40,000 bees.
Pollinating the 10,000 acres of almonds, walnuts and pistachios he oversees requires millions of bees doing the brunt of the pollination work.
The number of hives and demand have created a problem, though: Beekeepers are only able to check on their colonies’ health every week or two. But a growing number of threats to bees means entire colonies can be wiped out or weakened past the point of no return in just a few days.
Toxic pesticides, a changing climate and a sharp uptick in the invasive, disease-transmitting varroa mite since the 1980s have contributed to the rise of what’s known as colony collapse disorder. The exact role each of these issues plays in wiping out colonies is unclear, but they are also likely interacting with each other to take a toll.
“You are rarely going to find a bee who is only, for example, stressed by a mite or a bee who’s stressed by a disease only or a bee who’s only stressed by poor nutrition,” Chakrabarti Basu said. “It is always a combination.”
The impacts, though, are clear.
From the 12-month period starting last April, more than 56 percent of commercial colonies were
wiped out, according to the Apiary Inspectors of America. Beekeepers have taken a major economic hit as a result: Between last June and March, colony losses cost beekeepers an estimated $600 million, according to the Honey Bee Health Coalition.
While a new hive design alone isn’t enough to save bees, Beewise’s robotic hives help cut down on losses by providing a near-constant stream of information on colony health in real time—and give beekeepers the ability to respond to issues. Equipped with a camera and a robotic arm, they’re able to regularly snap images of the frames inside the BeeHome, which Safra likened to an MRI. The amount of data they capture is staggering.
Each frame contains up to 6,000 cells where bees can, among other things, gestate larvae or store honey and pollen. A hive contains up to 15 frames and a BeeHome can hold up to 10 hives, providing thousands of datapoints for Beewise’s AI to analyze.
While a trained beekeeper can quickly look at a frame and assess its health, AI can do it even faster, as well as take in information on individual bees in the photos. Should AI spot a warning sign, such as a dearth of new larvae or the presence of mites, beekeepers will get an update on an app that a colony requires attention. The company’s technology earned it a BloombergNEF Pioneers award earlier this year.
“There’s other technologies that we’ve tried that can give us some of those metrics as well, but it’s really a look in the rearview mirror,” Ellis said. “What really attracted us to Beewise is their ability to not only understand what’s happening in that hive, but to actually act on those different metrics.”
That includes administering medicine and food as well as opening and closing vents to regulate temperature or protect against pesticide spraying. Safra noted that after two hurricanes hit Florida last year, BeeHomes
in the state were still operational while many wooden hives were destroyed.
That durability and responsiveness has Ellis convinced on expanding their use.
Today, BeeHomes are on 30 percent of his acres, but he said within three years, they’re aiming for 100 percent coverage. Whether other growers and beekeepers are as keen to make the switch remains to be seen, though, given nearly two centuries of loyalty to the Langstroth design.
The startup wants to more than triple the number of BeeHomes in use, reaching one million in three years.
“We’re in a race against time,” Safra said. “We might have the best product on planet earth in 15 years, but it doesn’t matter” if there aren’t any bees left.
Ellis likened the hives to a RitzCarlton for pollinators. The fivestar stay appears to suit bees well: Beewise says its units—which it leases to provide pollination services at what it says are market rates—have seen colony losses of around 8 percent. That’s a major drop compared to the average annual loss rate of more than 40%, according to Apiary Inspectors of America, a group that tracks colony health.
“The asset is the bees, that’s the revenue-generating asset,” said Safra, noting that losing more than 40 percent of those assets makes it hard for businesses to cover labor to maintain hives, trailers to transport them and other fixed costs.
Beewise expects to have $100 million in revenue this year, and Safra said it’s a year away from profitability. The company declined to share the valuation for its Series D.
It has competition in the beesaving technology realm. Some companies like Dalan Animal Health are developing vaccines to protect bees against disease. BeeHero and Beeflow (sensing a pattern?) are among those that provide sensors for monitoring health in hives and fields. Both can help improve outcomes at Langstroth hives, but they still require regular beekeeper maintenance.
Chakrabarti Basu from Washington State and her colleagues are also working on using AI to detect bees entering hives. “The more data sets we can give, the better it’ll be trained,” she said. “Pattern recognition—it could be monitoring a brood frame, it could be looking at anything for estimating colony health or any aspect of colony health—I think AI will probably get better at it.” Bloomberg News
“[The DA will authorize the importation of onions] in August for white and [in] October for red,” Tiu Laurel told the BusinessMirror
However, Tiu Laurel did not disclose the volume of onions to be imported, since the agency is still in the process of “getting the final figures.”
Data from the Bureau of Plant Industry (BPI) showed that the country’s red onion inventory as of June 6 stood at 90,684 MT, while yellow onion stocks were estimated at 12,834 MT.
The BPI estimated that red onion stocks would only last until November 8, while yellow onion supplies would be depleted by September 2, based on the country’s daily consumption.
The agency said the expected
For yellow onions, the Philippines is expected to produce 193 MT by the end of June. The agency estimated that the country’s additional yellow onion supplies would last for 89 days or until September 3.
The DA recently said it would launch an investigation into the purported sale of imported onions in Metro Manila wet markets.
(See: https://businessmirror.com.ph/2025/06/18/ da-to-track-down-sources-ofonions-sold-in-wet-markets/)
“We have not issued any import permits since early this year, which means all imported onions currently in public markets are considered smuggled,” Laurel said in a previous interview.
Government price monitoring data shows that the retail price of local red onions ranges from P100 per kilo to P170 per kilo, while local white onions are sold in Metro Manila markets between P70 per kilo and P150 per kilo. Ada Pelonia
Rice imports breach 2MMT mark
RICE arrivals have breached two million metric tons (MMT) as of June 12, based on the latest government data.
Figures from the Bureau of Plant Industry (BPI) indicate that the pace of inbound shipments of the staple grain was slower compared to the previous year, as rice arrivals had already hit the two MMT by May 2024. Of the volume that arrived in the Philippines, 1.5 MMT came from Vietnam, which stood as the country’s top supplier. Myanmar trailed behind as it accounted for 292,292.33 MT, dislodging Thailand as the second-top supplier.
The Philippines also purchased rice stocks from other countries, such as Thailand (113,171.33 MT), Pakistan (72,841.02 MT), and India (19,309.16 MT).
In addition, the agency approved and issued 3,322 sanitary and phytosanitary import clearances (SPSICs) for the purchase of 2.82 MMT of imported rice.
Agriculture officials had projected lower rice imports for this year on the back of an expected rebound in local palay output and improved weather conditions.
In particular, Agriculture Assistant Secretary Arnel de Mesa said shipments will decline this year after arrivals of the food staple from other countries reached an all-time high of 4.8 MMT in 2024.
“The reasonable level of rice imports [this year is between] 3.8 MMT to 4 MMT,” De Mesa told reporters in a previous interview.
The agency is targeting to produce 20.46 MMT of rice this year by improving yield. The country’s rice harvest in 2023 reached a record 20.06 MMT.
Despite this, the United States Department of Agriculture (USDA) expects the country’s rice shipments to hit 5.4 MMT this year.
The international agency also said Philippine rice imports may again hit a record high next year despite the projected rebound in local paddy output of the staple grain.
The USDA noted that the country’s rice imports could reach a record 5.5 MMT in 2026 owing to the “growth in population, increased tourism, and continued importance as a staple.”
“The Philippines is expected to remain the largest global rice importer,” the USDA said. Ada Pelonia
DAR distributes farm equipment, tools to NV agrarian reform beneficiaries
THE Department of Agrarian Reform (DAR) recently turned over P1.4 million worth of farm machinery and equipment to agrarian reform beneficiaries in Kasibu, Nueva Vizcaya.
The package of support was received by the St. Patrick Parish Multi-Purpose Cooperative (SPPMPC) and will benefit around 2,546 small farmers, mostly ARBs.
The package includes a 24-horsepower four-wheel-drive tractor with a rotary tiller, a compact tiller, and a grass cutter valued at P1,485,800. These equipment are expected to enhance farm productivity, reduce labor time, and assist farmers in adapting to the impacts of climate change on local agriculture.
David B. Villanueva Jr., Provincial Agrarian Reform Program Officer, said the intervention is part of the Climate Resilient Farm Productivity Support (CRFPS) Project under the Major Crop Block Farm Productivity Enhancement component.
The project aims to strengthen the resilience of ARBs by providing access to mechanized farming equipment that
promotes sustainable and profitable farm operations.
“This intervention supports DAR’s longterm goal of increasing the productivity and income of ARBs by equipping them with the necessary tools to modernize their farming practices,” Villanueva said.
Receiving the machinery on behalf of the cooperative, SPPMPC Vice Chairperson of the Board of Directors Leonida H. Canayan extended her gratitude to the DAR for its continuing support to the farming community.
“We are grateful for this support, which will go a long way in easing the burden of manual labor and increasing the efficiency of our farm operations. This will truly empower our members and uplift their lives,” Canayan said. DAR, under the leadership of Secretary Conrado M. Estrella III, remains committed in helping farmers build better lives by providing the tools and resources they need to cultivate their land, adapt to challenges, and secure a more sustainable and prosperous future. Jonathan L. Mayuga
Editor: Jennifer A. Ng •
Editor: Angel R. Calso
The World
US joins Israeli war on Iran, strikes nuclear sites; Israel closes airspace
By Sam Mednick, Aamer Madhani & David Rising
The Associated Press
TEL AVIV, Israel—Israel’s Air -
port Authority announced
Sunday it was closing the country’s airspace to both inbound and outbound flights in the wake of the US attacks on Iranian nuclear sites.
The agency said it was shutting down air traffic “due to recent developments” and did not say for how long.
The US struck three sites in Iran early Sunday, inserting itself into Israel’s war aimed at destroying the country’s nuclear program in a risky gambit to weaken a longtime foe despite fears of a wider regional conflict. Meanwhile, Iran said there were “no signs of contamination” at its nuclear sites at Isfahan, Fordo or Natanz after US airstrikes targeted the facilities.
Iranian state media quoted the country’s National Nuclear Safety System Center, which published a statement saying its radiation detectors had recorded no radioactive release after the strikes.
“There is no danger to the residents living around the aforementioned sites,” the statement added.
Earlier Israeli airstrikes on nuclear sites similarly have caused no recorded release of radioactive material into the environment around the facilities, the International Atomic Energy Agency has said.
Addressing the nation from the White House, President Donald Trump asserted that Iran’s key nuclear were “completely and fully obliterated.” There was no independent damage assessment.
It was not clear whether the US would continue attacking Iran alongside its ally Israel, which has been engaged in a nine-day war with Iran. Trump warned Iran that any reprisals against the US would be met with additional strikes.
“There will either be peace or there will be tragedy for Iran,” he said.
The Atomic Energy Organization of Iran confirmed that attacks took place on its Fordo, Isfahan and Natanz
sites, but it insisted that its work will not be stopped.
The decision to directly involve the US in the war comes after more than a week of strikes by Israel on Iran that aimed to systematically eradicate the country’s air defenses and offensive missile capabilities, while damaging its nuclear enrichment facilities.
But US and Israeli officials have said that American stealth bombers and the 30,000-pound (13,500-kilogram) bunker-buster bomb they alone can carry offered the best chance of destroying heavily fortified sites connected to the Iranian nuclear program buried deep underground.
“We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan,” Trump said in a post on social media. “All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home.”
Trump added in a later post: “This is an HISTORIC MOMENT FOR THE UNITED STATES OF AMERICA, ISRAEL, AND THE WORLD. IRAN MUST NOW AGREE TO END THIS WAR.
THANK YOU!”
Israeli Prime Minister Benjamin Netanyahu praised Trump’s decision to attack in a video message directed at the American president.
“Your bold decision to target Iran’s nuclear facilities, with the awesome and righteous might of the United States, will change history,” he said. Netanyahu said the US “has done what no other country on earth could do.”
The White House and Pentagon did not immediately elaborate on the operation. But Fox News host Sean Hannity said shortly after 9 p.m. Eastern that he had spoken with Trump and that six bunker-buster bombs were used on the Fordo facility. Hannity said 30 Tomahawk missiles fired by US submarines 400 miles away struck the Iranian nuclear sites of Natanz and Isfahan.
The strikes are a perilous decision, as Iran has pledged to retaliate if the US joined the Israeli assault, and for Trump personally. He won the White House on the promise of keeping
America out of costly foreign conflicts and scoffed at the value of American interventionism.
UN Secretary-General Antonio Guterres said that he was “gravely alarmed” by the “dangerous escalation” of American strikes.
“There is a growing risk that this conflict could rapidly get out of control—with catastrophic consequences for civilians, the region, and the world,” he said in a statement.
Trump told reporters Friday that he was not interested in sending ground forces into Iran, saying it’s “the last thing you want to do.” He had previously indicated that he would make a final choice over the course of two weeks.
Iran’s Supreme Leader Ayatollah Ali Khamenei warned the United States on Wednesday that strikes targeting the Islamic Republic will “result in irreparable damage for them.” And Iranian Foreign Ministry spokesman Esmail Baghaei declared “any American intervention would be a recipe for an all-out war in the region.”
Trump has vowed that he would not allow Iran to obtain a nuclear weapon, and he had initially hoped that the threat of force would bring the country’s leaders to give up its nuclear program peacefully.
The Israeli military said Saturday it was preparing for the possibility of a lengthy war, while Iran’s foreign minister warned before the US attack that American military involvement “would be very, very dangerous for everyone.”
The prospect of a wider war loomed. Iranian-backed Houthi rebels in Yemen said they would resume attacks on US vessels in the Red Sea if the Trump administration joined Israel’s military campaign. The Houthis paused such attacks in May under a deal with the US.
The US ambassador to Israel announced that the US had begun “assisted departure flights,” the first from Israel since the Hamas-led attack on October 7, 2023, that sparked the war in Gaza.
White House press secretary Karoline Leavitt said Thursday that Trump planned to make his decision on the strikes within two weeks. Instead, he
Ukraine received at least 20 bodies of Russian soldiers in recent exchanges, Zelenskyy says
By Samya Kullab
The Associated Press
KYIV, Ukraine—Ukraine’s president said that Russia repatriated at least 20 of its own dead soldiers in recent exchanges with Ukraine, describing it as a result of Moscow’s disorganization in carrying out large swaps of wounded POWs and remains of troops.
Volodymyr Zelenskyy said that an Israeli citizen was among the dead Ukraine had received in recent exchanges. He spoke to journalists on Friday but his comments were embargoed until Saturday. Officials did not disclose the identities of the bodies.
“They threw the corpses of their citizens at us. This is their attitude toward war, toward their soldiers. And this is already documented. Sometimes these bodies even have Russian passports,” he said.
He said the Russian side insisted the dead were all Ukrainians. Journalists were shown a Russian passport and ID belonging to one of the 20 dead Russians. According to the document, the man came from the Moscow region.
Zelenskyy doubts Putin wants peace
THE exchanges of the dead and wounded soldiers are the only tangible result of direct peace talks in Istanbul. In June, Ukraine and Russia agreed to exchange the bodies of fallen soldiers in a 6,000for-6,000 format during the second round of negotiations. Ukraine was concerned that the number was too high and that the sides did not have enough time for forensic examinations and checking the identities
of the dead. Zelenskyy said he suspected Russia’s plan was to play along with peace talks to appease the US and stave off more sanctions but without ending the war that Russian President Vladimir Putin believes he is winning.
He said that because of this, Ukraine would be “in a really difficult situation” of deciding whether to continue the talks in Istanbul.
Impact of Iran-Israel war on Ukraine
ZELENSKYY said Ukraine was against Iran acquiring nuclear weapons, because of its military partnership with Russia, but stopped short of expressing explicit support for Israel’s strikes. He repeated that the new war in the Middle East will affect Ukraine indirectly.
“Iran gave the Russians everything to kill us. They gave them martyrs, they gave them missiles, and they gave them licenses. The fact that their production capacities have now become weaker is (a) positive for us. But at certain points it may already be too late,” he said, also citing Russia’s military cooperation with North Korea. Russia has modified Iran-made Shahed drones and has used them, often hundreds at a time, in barrages targeting Ukraine.
Zelenskyy said 39 Russian companies were involved in the production of Oreshnik, an intermediate-range ballistic missile capable of carrying a nuclear warhead. He said 21 of them are not under sanctions.
“And therefore it is absolutely incomprehensible why sanctions should not be imposed urgently,” he said.
Russia attacked Ukraine with the mis -
struck just two days later.
Trump appears to have made the calculation—at the prodding of Israeli officials and many Republican lawmakers—that Israel’s operation had softened the ground and presented a perhaps unparalleled opportunity to set back Iran’s nuclear program, perhaps permanently.
The Israelis say their offensive has already crippled Iran’s air defenses, allowing them to already significantly degrade multiple Iranian nuclear sites.
But to destroy the Fordo nuclear fuel enrichment plant, Israel appealed to Trump for the bunker-busting American bomb known as the GBU-57 Massive Ordnance Penetrator, which uses its weight and sheer kinetic force to reach deeply buried targets and then explode. The bomb is currently delivered only by the B-2 stealth bomber, which is only found in the American arsenal.
If deployed in the attack, it would be the first combat use of the weapon.
The bomb carries a conventional warhead, and is believed to be able to penetrate about 200 feet (61 meters) below the surface before exploding, and the bombs can be dropped one after another, effectively drilling deeper and deeper with each successive blast.
The International Atomic Energy Agency has confirmed that Iran is producing highly enriched uranium at Fordo, raising the possibility that nuclear material could be released into the area if the GBU-57 A/B were used
to hit the facility.
Previous Israeli strikes at another Iranian nuclear site, Natanz, on a centrifuge site have caused contamination only at the site itself, not the surrounding area, the IAEA has said.
Trump’s decision for direct US military intervention comes after his administration made an unsuccessful two-month push—including with high-level, direct negotiations with the Iranians—aimed at persuading Tehran to curb its nuclear program.
For months, Trump said he was dedicated to a diplomatic push to persuade Iran to give up its nuclear ambitions. And he twice—in April and again in late May—persuaded Netanyahu to hold off on military action against Iran and give diplomacy more time.
The US in recent days has been shifting military aircraft and warships into and around the Middle East to protect Israel and US bases from
Iranian attacks.
All the while, Trump has gone from publicly expressing hope that the moment could be a “second chance” for Iran to make a deal to delivering explicit threats on Khamenei and making calls for Tehran’s unconditional surrender.
“We know exactly where the socalled ‘Supreme Leader’ is hiding,” Trump said in a social media posting. “He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now.”
Madhani reported from Morristown, N.J. Rising reported from Dubai, United Arab Emirates. Associated Press writers Nasser Karimi in Iran; Mehmet Guzel in Istanbul; Josef Federman in Jerusalem; Samy Magdy in Cairo; Matthew Lee and Josh Boak in Washington; and Farnoush Amiri and Jon Gambrell in Dubai contributed to this report.
PANJIT INTERNATIONAL INC. INAUGURATES CAPTIVE PRODUCTION LINES AT AUTOMATED TECHNOLOGY (PHIL.) INC. New Facility for PANJIT in the Philippines to supply Semiconductor Components to Key Global Manufacturers
sile in November, marking a serious escalation in the war and Russia’s capabilities.
Ukraine looks to Europe to boost domestic weapons
ZELENSKYY dispelled reports that Patriots air defense systems were destroyed in recent Russian drone and missile barrages.
He also said Ukraine has started using domestically produced interceptors to shoot down Shahed drones and is seeking financing from Germany to ramp up the weapon’s production.
He added he sent signals to Western partners asking them to give up 0.25% of their GDP to support Ukraine’s local defense industry.
Zelenskyy said it’s likely he would attend a NATO summit later this week, but that he would make a final decision on Monday.
Though Zelenskyy did not meet Trump who had left early the Group of Seven summit in Canada last week, Ukraine’s Economy Minister Yulia Svyrydenko and the head of the president’s office, Andriy Yermak, gave US Treasury Secretary Scott Bessent a list of weapons Ukraine is hoping to purchase.
“We will wait feedback,” Zelenskyy said, adding the package of weapons included Patriot systems.
The weapons package would be among the topics Zelenskyy plans to discuss with Trump in their next meeting, he added, as well as the issue of sanctions.
“Frankly, it seems to me that we need to talk about a new breath in the diplomatic track,” he said. “We need greater certainty and greater pressure from the world on Putin.”
PANJIT International Inc., a leading global manufacturer of discrete semiconductors and passive components, today officially inaugurates its state-of-the-art captive production line within the facility of Automated Technology (Phils.) Inc. (ATEC) in LISP1 Cabuyao City, Laguna, Philippines.
This significant strategic investment is dedicated to the high-volume manufacturing of surface-mount device (SMD) packages, specifically the widely utilized SOT23 (Small Outline Transistor) and advanced DFN (Dual Flat No-Lead) types. These miniature, high-performance packages are essential building blocks in modern power management and control circuits found within electric vehicles (EVs).
The new captive line represents a substantial commitment to meeting the rapidly growing demand from PANJIT's key customers – major Electric Vehicle manufacturers based in the United States. By establishing dedicated capacity within ATEC's highly-regarded automated manufacturing environment, PANJIT ensures a secure, scalable, and high-quality supply chain for these critical components.
Key Strategic Drivers: n Supporting the EV Revolution: The facility directly addresses the surging global demand for semiconductors powering the transition to electric mobility, particularly within the crucial North American market.
n Supply Chain Resilience: Establishing captive production enhances supply chain control and reliability, mitigating risks and ensuring consis-
tent delivery for PANJIT's automotive partners.
n Advanced Manufacturing: Leveraging ATEC's expertise in automation and high-precision manufacturing ensures the production of millions of SOT23 and DFN units meets the stringent quality and performance standards required by the automotive industry, particularly for safety-critical EV applications.
n Regional Commitment: This investment underscores PANJIT's commitment to the Philippines
PRESIDENT Donald Trump speaks from the East Room of the White House in Washington, Saturday, June 21, 2025, after the US military struck three Iranian nuclear and military sites, directly joining Israel’s effort to decapitate the country’s nuclear program, as Vice President
US airstrikes on Iran spark oil price jitters, traders brace for $100 crude
By Alex Longley & Yongchang Chin
THE oil market has been wrestling for days with Donald Trump’s next act in an escalating Middle East conflict. Now American jets have struck Iran’s three main nuclear sites, a move that leaves traders preparing for a price surge—but still guessing where the crisis goes from here.
In a wild week, Brent futures have jumped 11% since Israel attacked its nemesis, but with sharp moves up and down from one day to the next. That rise is expected to restart on Monday, after the US assault—which targeted sites at Fordow, Natanz, and Esfahan—dramatically raised the stakes in a region that accounts for a third of global oil output.
From frenzied options markets, to soaring freight and diesel pricing, to a radical redrawing of crude’s pivotal forward curve, all of that volatility is expected to intensify in the week ahead.
“Much depends on how Iran responds in the coming hours and days — but this could set us on a path toward $100 oil, if Iran responds as they have previously threatened to,” said Saul Kavonic, an energy analyst at MST Marquee. “This US attack could see a conflagration of the conflict to include Iran responding by targeting regional American interests that include Gulf oil infrastructure in places such as Iraq, or harassing passage through the Strait of Hormuz.”
The maritime chokepoint at the mouth of the Persian Gulf is a vital
conduit for not just Iranian shipments, but also for those from Saudi Arabia, I raq, Kuwait and other members of the Organization of the Petroleum Exporting Countries.
Central to everything is the Trump administration’s ultimate intention in Iran, having joined Israel’s attack.
At one stage last week, it appeared more a question of when than if. That then changed late Thursday, when Trump said he’d mull his decision for two weeks. Then in the early hours of Sunday, Iranian time, he announced that Fordow, Natanz, and Isfahan were struck, and described a “payload of BOMBS” dropped on Fordow, a key location of uranium enrichment.
Hours later, in a televised address to the nation, the US president said the strikes had “totally obliterated” the trio of targets, while also threatening further military action if Tehran did not make peace with Israel.
“The market wants certainty, and this now firmly pushes the US into the Middle East theater,” said Joe DeLaura, a former trader and global energy strategist at Rabobank, adding prices were now expected to rise when oil reopens. “But I think that this
means the US Navy will be tasked to keep the Strait open,” he said, adding prices could head into the $80-to-$90 a barrel range.
Still, so far there has been little sign of disruption to oil flows from the region.
“Should the US provide direct military support to Israel and play its part in removing the current regime the initial market reaction will be a price spike,” said Tamas Varga, an analyst at brokerage PVM Oil Associates Ltd, said at the end of last week. But his firm’s expectation is that oil will not become part of the conflict because it’s not in the interests of either side.
The fate of oil matters because it drives fuel prices and inflation—something Trump said he would quell when he was campaigning for office. In times of extreme volatility, shortages of oil have even precipitated recessions.
So far, there’s been no meaningful curtailment through the Strait of Hormuz, through which about a fifth of the world’s produced and consumed oil flows every day. Indeed, Iran even appears to be racing to lift its exports as part of its logistical response to
the conflict.
Avoiding a wider conflagration and preventing disruptions to supply would push oil prices lower, while also bringing down everything that spiked in tandem with them. Against that, America joining could be all-defining, calling into question security through the waterway and from the region at large.
On Friday, Iran said it might consider adjustments to its enrichment program, driving down futures and reminding the world that Tehran’s actions are important to petroleum markets too.
Among assets roiled by the tension are options contracts, where traders paid enormous premiums to hedge against further price spikes.
At times since the conflict began, they paid the most to protect against a rally since at least 2013. Record volumes of bullish call options have changed hands since the attacks started.
With assistance from Stephen Stapczynski, Julia Fanzeres and Mia Gindis/ Bloomberg
Japan and South Korea mark 60 years of diplomatic relations amidst lingering tension, future uncertainty
By Mari Yamaguchi & Kim Tong-Hyung
TThe Associated Press
OKYO — Japan and South Korea are marking the 60th anniversary of the normalization of their diplomatic relations Sunday. The two Asian powers, rivals and neighbors, have often had little to celebrate, much of their rancor linked to Japan’s brutal colonial rule of Korea in the early 20th century. Things have gotten better in recent years, but both nations—each a strong ally of the United States—now face political uncertainty and a growing unease about the future of their ties. Here’s a look at one of Northeast Asia’s most crucial relationships, from both capitals, by two correspondents from The Associated Press.
The view from Seoul SOUTH Korea’s new liberal president, Lee Jae Myung, is determined to break sharply from the policies of his disgraced predecessor, Yoon Suk Yeol, who now faces a trial on charges of leading an insurrection over his imposition of martial law in December. Relations with Japan, however, are one area where Lee, who describes himself as a pragmatist in foreign policy, may find himself cautiously building on Yoon’s approach. Before his removal from office in April, the conservative former president tried to repair relations with Japan. Yoon wanted to also tighten the countries’ three-way security cooperation with Washington to counter North Korean nuclear threats.
In 2023, Yoon announced a South Korea-funded compensation plan for colonial-era forced laborers. That decision caused a strong backlash from victims and their supporters, who had demanded direct payments from
Japanese companies and a fresh apology from Tokyo.
Yoon’s outreach boosted tourism and business ties, but there’s still lingering resentment in South Korea that Japan failed to reciprocate Seoul’s diplomatic concession by addressing historical grievances more sincerely. While advocating for pragmatism and problem-solving in foreign policy, Lee has also long criticized Japan for allegedly clinging to its imperialist past and blamed that for hurting cooperation between the countries. Some experts say the stability of the countries’ improved ties could soon be tested, possibly around the Aug. 15 anniversary of Korea’s liberation from Japanese colonial rule at the end of World War II, when Lee is expected to publicly address the nation’s painful history with Japan. Some in Seoul want Japanese Prime Minister Shigeru Ishiba to mark the anniversary with a stronger statement of remorse over Japan’s wartime past to put bilateral ties on firmer ground.
While wartime history will always linger in the background of Seoul-Tokyo relations, Lee and Ishiba may face
a more immediate concern: US President Donald Trump’s rising tariffs and other America-first trade policies.
South Korea’s Hankyoreh newspaper in an editorial this week called for South Korea and Japan to “collaborate immediately” on a joint response to Trump’s policies, arguing that the proposed US tariffs on automobiles pose similar threats to both countries’ trade-dependent economies.
The view from Tokyo ISHIBA, eager to improve ties with Seoul, has acknowledged Japan’s wartime aggression and has shown more empathy to Asian victims than his recent predecessors.
His first encounter with Lee seemed positive, despite worries in Japan about South Korea’s stance under a liberal leader known for attacks on Japan’s wartime past. Lee, in that meeting with Ishiba at the G7, likened the two countries to “neighbors sharing the same front yard” and called for building a futureoriented relationship that moves beyond their “small differences and disagreements.”
Pope Leo XIV calls for zero tolerance on abuse in Catholic Church, advocates for transparent prevention measures
By Franklin Briceño The Associated Press
LIMA, Peru—Pope Leo XIV has said there should be no tolerance in the Catholic Church for any type of abuse—sexual, spiritual or abuse of authority—and called for “transparent processes” to create a culture of prevention across the church.
Leo made his first public comments about the clergy sex abuse scandal in a written message to a Peruvian journalist who documented a particularly egregious case of abuse and financial corruption in a Peruvian-based Catholic movement, the Sodalitium Christianae Vitae.
The message was read out loud on Friday night in Lima during a performance of a play based on the Sodalitium scandal and the work of the journalist, Paola Ugaz.
“It is urgent to root in the whole church a culture of prevention that does not tolerate any form of abuse - neither of power or authority, nor abuse of conscience, spiritual or sexual abuse,” Leo said in the message.
“This culture will only be authentic if it is born of active vigilance, of transparent processes and sincere listening to those who have been hurt. For this, we need journalists.”
Leo is well aware of the Sodalitium scandal, since he spent two decades as a missionary priest and bishop in Peru, where the group was founded in 1971. The then-Bishop Robert Prevost was responsible for listening to the Sodalitium’s victims as the Peruvian bishops’ point-person for abuse victims and helped some reach financial settlements with the organization.
After Pope Francis brought him to the Vatican in 2023, Prevost helped dismantle the group entirely by overseeing the resignation of a powerful Sodalitium bishop. The Sodalitium was officially suppressed earlier this year, right before Francis died.
Now as pope, Leo has to oversee the dismantling of the Soldalitium and its sizeable assets. The Vatican envoy on the ground handling the job, Monsignor Jordi Bertomeu, read out Leo’s message on Friday night, appearing alongside Ugaz on stage. In the message, Leo also praised journalists for their courage in holding the powerful to account, demanded public authorities protect them and said a free press is a “common good that cannot be renounced.” Ugaz and a Sodalitium victim, Pedro Salinas, have faced years of criminal and civil litigation from Sodalitium and its supporters for their investigative reporting into the group’s twisted practices and financial misconduct, and they have praised Leo for his handling of the case. The abuse scandal is one of the thorniest dossiers facing Leo, especially given demands from survivors that he goes even farther than Francis in applying a zero-tolerance for abuse across the church, including for abusers whose victims were adults.
Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
Ishiba and Lee agreed to closely communicate and to cooperate on a range of issues, including North Korea’s nuclear and missile development.
Under a 1965 normalization treaty, Japan provided $500 million in economic assistance to South Korea, saying all wartime compensation issues were settled.
However, historical issues including forced labor and sexual abuse of Korean women during the war have disrupted ties over the decades, while South Korea has become an Asian power and a rival to Japan, and while Tokyo, especially during the late Prime Minister Shinzo Abe ‘s rule, has promoted revisionist views.
Japan has since offered atonement money twice for the so-called “comfort women,” an earlier semi-private fund and a second one unilaterally dissolved by former South Korean President Moon Jae-in’s liberal government.
Things have improved in recent years, and Japan is watching to see whether Lee sticks with his conservative predecessor’s more conciliatory diplomacy or returns to the confrontation that marked previous liberal governments.
Cooperation between the two sides is “more essential than ever” to overcome their shared problems such as worsening regional security and Trump’s tariffs that have shaken free trade systems, Japan’s largestcirculation newspaper Yomiuri said in a recent editorial.
At a 60th anniversary reception in Tokyo, Ishiba said that he sees “a bright future” in the relationship. He expressed hope also for cooperation in “common challenges” such as low birth rates and declining populations.
Kim reported from Seoul, South Korea.
By Salvatore Cavalli & Giada Zampano The Associated Press
PORTICELLO, Italy—A British-flagged luxury superyacht that sank off Sicily last year, killing UK tech magnate Mike Lynch and six others, was lifted from the water Saturday as salvage recovery crews completed the complex operation to bring it ashore for further investigation.
The white top and blue hull of the 56-meter (184-foot) Bayesian, covered with algae and mud, was visibly clear of the sea in a holding area of a yellow floating crane barge off the Sicilian port of Porticello.
“The hull of the superyacht Bayesian has today been successfully and safely recovered from the sea off the coast of northern Sicily,” said TMC Maritime, the company conducting the recovery. “This follows a delicate lifting procedure that began early today.”
TMC added that the hull will continue to be held “in an elevated position to allow expert salvage personnel to complete checks and preparations” ahead of its transportation into the Sicilian port of Termini Imerese on Sunday.
The floating crane platform will move the Bayesian to the port, where a special steel
cradle is waiting for it. The vessel will be then made available for investigators to help determine the cause of the sinking.
The Bayesian sank Aug. 19 off Porticello, near Palermo, during a violent storm as Lynch was treating friends to a cruise to celebrate his acquittal two months earlier in the U.S. on fraud charges. Lynch, his daughter and five others died. Fifteen people survived, including the captain and all crew members except
JAPANESE
Federal judge blocks Trump’s efforts to keep Harvard from hosting international students
By Collin Binkley & Albee Zhang
The Associated Press
WASHINGTON—A fed -
eral judge on Friday
b locked the Trump administration’s efforts to keep Harvard University from hosting international students, delivering the Ivy League school another v ictory as it challenges multiple government sanctions amid a battle with the White House.
The order from US District Judge Allison Burroughs in Boston preserves Harvard’s ability to host foreign students while the case is decided, but it falls short of resolving all of Harvard’s legal hurdles to hosting i nternational students. Notably, Burroughs said the federal government still has authority to re view Harvard’s ability to host international students through normal processes outlined in law.
Harvard sued the Department of Homeland Security in M ay after the agency abruptly withdrew the school’s certification to host foreign students and i ssue paperwork for their visas, skirting most of its usual procedures. The action would have for ced Harvard’s roughly 7,000 international students — about a quarter of its total enrollment — to transfer or risk being in the US illegally. New foreign students would have been barred f rom coming to Harvard.
The university said it was experiencing illegal retaliation for rejecting the White House’s demands to overhaul Harvard policies related to campus protests, admissions, hiring and m ore. Burroughs temporarily had halted the government’s action hours after Harvard sued.
L ess than two weeks later, in early June, President Donald Trump tried a new strategy. He issued a proclamation to block foreign students from entering the US to attend Harvard, citing a different legal justification. Harvard challenged the m ove, saying the president was attempting an end-run around the temporary court order. Burroughs temporarily blocked Trump’s proclamation as well. That emergency block remains in effect, and Burroughs did not address the proclamation in her order Friday.
“We expect the judge to issue a more enduring decision in the coming days,” Harvard said Friday in an e-mail to international s tudents. “Our Schools will continue to make contingency plans t oward ensuring that our international students and scholars c an pursue their academic work to the fullest extent possible, should there be a change to student visa eligibility or their ability to enroll at Harvard.”
Students in limbo
THE stops and starts of the legal battle have unsettled current students and left others a round the world waiting to find out whether they will be able to attend America’s oldest and wealthiest university.
The Trump administration’s efforts to stop Harvard from enrolling international students h ave created an environment of “profound fear, concern, and confusion,” the university said in a court filing. Countless international students have asked a bout transferring from the university, Harvard immigration services director Maureen M artin said.
Still, admissions consultants and students have indicated most current and prospective Harvard scholars are holding out hope they’ll be able to attend the university.
For one prospective graduate student, an admission to H arvard’s Graduate School of Education had rescued her educational dreams. Huang, who a sked to be identified only by her surname for fear of being targeted, had seen her original doctoral offer at Vanderbilt University rescinded after federal c uts to research and programs related to diversity, equity and inclusion.
Harvard stepped in a few weeks later with a scholarship she couldn’t refuse. She rushed to schedule her visa interview in Beijing. More than a month after the appointment, despite court orders against the Trump administration’s policies, she still hasn’t heard back.
“Your personal effort and capability means nothing in this e ra,” Huang said in a social media post. “Why does it have to be so hard to go to school?”
An ongoing battle TRUMP has been warring with Harvard for months after the university rejected a series of government demands meant to address conservative complaints that the school has become too liberal and has tolerated anti-Jewish harassment.
Trump officials have cut more than $2.6 billion in research grants, ended federal contracts and threatened to revoke Harvard’s tax-exempt status.
O n Friday, the president said in a post on Truth Social that the administration has been work-
ing with Harvard to address “t heir largescale improprieties” and that a deal with Harvard could be announced within the next week. “They have acted extremely appropriately during these negotiations, and appear to be committed to doing what is right,” Trump’s post said.
Trump’s administration first targeted Harvard’s international students in April. Homeland Security Secretary Kristi Noem demanded that Harvard turn over a t rove of records related to any dangerous or illegal activity by foreign students. Harvard says it complied, but Noem said the response fell short and on May 22 revoked Harvard’s certification in the Student and Exchange V isitor Program.
The sanction immediately put Harvard at a disadvantage as it competed for the world’s top students, the school said in its lawsuit, and it harmed Harvard’s reputation as a global research hub. “Without its international students, Harvard is not Harvard,” the lawsuit said.
T he action would have upended some graduate schools t hat recruit heavily from abroad. Some schools overseas quickly offered invitations to Harvard’s students, including two universities in Hong Kong.
H arvard President Alan Garber previously said the university has made changes to combat a ntisemitism. But Harvard, he said, will not stray from its “core, legally-protected principles,” even after receiving federal ultimatums.
C ollin Binkley has covered Harvard for nearly a decade—most o f the time living half a mile from campus.
Europe faces overtourism crisis as record 747 million international visitors strain destinations and resources
By Suman Naishadham
The Associated Press
MADRID—Suitcases rattle against cobblestones. Selfiesnappers jostle for the same shot. Ice cream shops are everywhere. Europe has been called the world’s museum, but its record numbers of visitors have also made it ground zero for concerns about overtourism.
Last year, 747 million international travelers visited the continent, far outnumbering any other region in the world, according to the UN’s World Tourism Barometer. Southern and Western Europe welcomed more than 70% of them.
As the growing tide of travelers strains housing, water and the most Instagrammable hotspots in the region, protests and measures to lessen the effects of overtourism have proliferated. Here’s a look at the issue in some of Europe’s most visited destinations.
What’s causing overtourism
AMONG factors driving the record numbers are cheap flights, social media, the ease of travel planning using artificial intelligence and what U.N. tourism officials call a strong economic outlook for many rich countries that send tourists despite some geopolitical and economic tensions.
Citizens of countries like the US, Japan, China and the U.K. generate the most international trips, especially to popular destinations, such as Barcelona in Spain and Venice in Italy. They swarm these places seasonally, creating uneven demand for housing and resources such as water.
Despite popular backlash against the crowds, some tourism officials believe they can be managed with the right infrastructure in place.
Italy’s Tourism Minister Daniela Santanchè said she thinks tourism flows at crowded sites such Florence’s Uffizi Galleries that house some of the world’s most famous artworks could be
better managed with AI, with tourists able to buy their tickets when they book their travel, even months in advance, to prevent surges.
She pushed back against the idea that Italy—which like all of its Southern European neighbors, welcomed more international visitors in 2024 than its entire population—has a problem with too many tourists, adding that most visits are within just 4 percent of the country’s territory.
“It’s a phenomenon that can absolutely be managed,” Santanchè told The Associated Press in an interview in her office on Friday. “Tourism must be an opportunity, not a threat—even for local communities. That’s why we are focusing on organizing flows.”
Where overtourism is most intense COUNTRIES on the Mediterranean are at the forefront. Olympics-host France, the biggest international destination, last year received 100 million international visitors, while second-place Spain received almost 94 million— nearly double its own population.
Protests have erupted across Spain over the past two years. In Barcelona, the water gun has become a symbol of the city’s anti-tourism movement after marching protests have spritzed
unsuspecting tourists while carrying signs saying: “One more tourist, one less resident!”
The pressure on infrastructure has been particularly acute on Spain’s Canary and Balearic Islands, which have a combined population of less than 5 million people. Each archipelago saw upwards of 15 million visitors last year.
Elsewhere in Europe, tourism overcrowding has vexed Italy’s most popular sites including Venice, Rome, Capri and Verona, where Shakespeare’s “Romeo and Juliet” was set. On the popular Amalfi Coast, ride-hailing app Uber offers private helicopter and boat rides in the summer to beat the crowds.
Greece, which saw nearly four times as many tourists as its own population last year, has struggled with the strain on water, housing and energy in the summer months, especially on popular islands such as Santorini, Mykonos and others.
The impact of overtourism IN Spain, anti-tourism activists, academics, and the government say that overtourism is driving up housing costs in city centers and other popular locations due to the proliferation of shortterm rentals that cater to visitors.
Others bemoan changes to the very character of city neighborhoods
that drew tourists in the first place.
In Barcelona and elsewhere, activists and academics have said that neighborhoods popular with tourists have seen local shops replaced with souvenir vendors, international chains and trendy eateries.
On some of Greece’s most-visited islands, tourism has overlapped with water scarcity as drought grips the Mediterranean country of 10.4 million.
In France, the Louvre, the world’s most-visited museum, shut down this week when its staff went on strike warning that the facility was crumbling beneath the weight of overtourism, s tranding thousands of ticketed visitors lined up under the baking sun.
Angelos Varvarousis, a Barcelonaand Athens-based academic and urban planner who studies the industry, said overtourism risks imposing a “monoculture” on many of Europe’s hotspots.
“It is combined with the gradual loss and displacement of other social and economic activities,” Varvarousis said.
What authorities are doing to cope
SPAIN’S government wants to tackle what officials call the country’s biggest governance challenge: its housing crunch.
Last month, Spain’s government ordered Airbnb to take down almost 66,000 properties it said had violated local rules—while Barcelona announced a plan last year to phase out all of the 10,000 apartments licensed in the city as short-term rentals by 2028. Officials said the measure was to safeguard the housing supply for full-time residents.
Elsewhere, authorities have tried to regulate tourist flows by cracking down on overnight stays or imposing fees for those visiting via cruises.
AP journalists Laurie Kellman in London, Derek Gatopoulos in Athens and David Biller in Rome contributed.
DEMONSTRATORS march through downtown Barcelona, Spain, chanting slogans against the Formula 1 Barcelona Fan Festival, Wednesday, June 19, 2024, during residents’ protest against mass tourism. AP PHOTO/EMILIO MORENATTI
The vital role of sari-sari stores in our economy
THE humble sari-sari store, a ubiquitous sight on street corners, is more than just a place to buy a quick snack or a stick of cigarette. According to a recent report by the Department of Trade and Industry, these micro-enterprises contribute a staggering P1.12 trillion to P1.46 trillion annually to the national retail economy. The report, “Section G: Job Blueprint for Wholesale & Retail Trade,” paints a picture of these stores as a vital, yet vulnerable, component of the Philippine economic landscape. (Read the BusinessMirror story: “Sari-sari stores projected to double in value to P2.4T by 2030–DTI,” June 17, 2025).
The potential for growth is undeniable. The DTI projects that the value of sari-sari stores could double to P2.4 trillion by 2030. This projection underscores the enduring importance of these stores, which represent 1.3 million establishments and an estimated 8.3 percent of the informal workforce. They are critical sources of livelihood, particularly in underserved communities, providing not only income for owners but also creating jobs for others. With average sales per store ranging from P861,000 to P1.23 million yearly, their collective impact on the retail market, accounting for 15 to 20 percent of total sales, is substantial.
However, this rosy outlook is tempered by significant challenges. The DTI report rightly points out that sari-sari stores face numerous hurdles that threaten their sustainability and limit their potential. Access to capital remains a major obstacle, hindering expansion and modernization efforts. Many store owners lack formal business training, impacting their ability to manage operations efficiently and adapt to changing market dynamics.
Perhaps the most pressing challenge is the increasing competition from larger retail chains and the burgeoning online marketplace. These larger entities offer a wider range of products at competitive prices, putting immense pressure on the smaller, less agile sari-sari stores. Furthermore, complex regulatory requirements add to the burden, making it difficult for these small businesses to comply with registration and operational standards.
To ensure the projected growth becomes a reality, and to safeguard the livelihoods of millions who depend on these stores, a multi-pronged approach is needed. The government must prioritize initiatives that provide sari-sari store owners with access to affordable capital through micro-financing programs and simplified loan application processes. Equally important is the provision of accessible and practical business training programs, focusing on inventory management, financial literacy, and basic marketing skills.
Addressing the regulatory burden is also crucial. Streamlining the registration process and offering clear guidance on compliance requirements would significantly ease the pressure on these small businesses. Furthermore, exploring ways to help sari-sari stores leverage technology, such as mobile payment systems and online ordering platforms, could help them compete more effectively with larger retailers.
The sari-sari store is more than just a business; it’s a community hub, a source of income, and a reflection of the Filipino entrepreneurial spirit. By addressing the challenges they face and providing the necessary support, we can ensure that these vital micro-enterprises not only survive but thrive, contributing significantly to the nation’s economic growth and social well-being.
To see is to believe–not anymore
IT. Anthony C. Cabangon
Lourdes M. Fernandez
Jennifer A. Ng Vittorio V. Vitug
Lorenzo M. Lomibao Jr., Gerard S. Ramos
Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo
Ruben M. Cruz Jr.
Eduardo A. Davad
Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos
Aldwin Maralit Tolosa
Rolando M. Manangan
BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the
893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.businessmirror.com.ph
Atty. Jose Ferdinand M. Rojas II
RISING SUN
N a notable case, scammers used publicly available videos and audio to train the AI to impersonate multiple senior executives in a video call, convincing a finance clerk in Hong Kong to authorize large funds transfers. This resulted in a loss of over $25 million.
Technology could also be used to create a video where the CEO of a corporation announces a financial crisis or fraudulent activity within the organization—misinformation that could cause panic among the public and lead to reputational damage and potential regulatory scrutiny.
In 2023, the Philippines experienced a staggering 4,500 percent increase in deepfake incidents, the highest jump in Asia-Pacific. These fakes have been used to impersonate business leaders, spread fake news about companies, and, as shown in our example above, trick employees into approving fraudulent transactions.
The line between what’s real and what’s fake has never been more blurred. In the Philippines, the rise of deepfakes and AI-driven manipu-
lation is more than just a tech trend —it’s a real danger these days from which entrepreneurs, executives, and stakeholders must protect themselves, their organization, and those they serve.
The good news is that even though the threat of deepfakes and AI manipulation is very real, there are practical and effective solutions available. For starters, the Department of Information and Communications Technology (DICT) has recently acquired advanced digital tools that can scan photos and videos for deepfakes with impressive speed and up to 95 percent accuracy, completing checks in less than 30 seconds. Businesses would be wise to consider integrating similar verification technologies into their own operations to help
In 2023, the Philippines experienced a staggering 4,500 percent increase in deepfake incidents, the highest jump in Asia-Pacific. These fakes have been used to impersonate business leaders, spread fake news about companies, and, as shown in our example above, trick employees into approving fraudulent transactions.
safeguard against these risks.
Beyond technology, it’s crucial to strengthen internal protocols. Whenever a suspicious request comes in—especially those involving financial transactions or sensitive information—it’s important to verify them through trusted, offline channels. Relying solely on e-mails, phone calls, or even video messages is no longer enough, given how easily these can be manipulated.
Education also plays a key role.
Regular training sessions for employees can help everyone recognize the signs of manipulation and social engineering. Building this kind of awareness forms the first line of defense against sophisticated scams.
Another important step is to limit the exposure of personal and company data online. Every photo,
Tricycle economics in tumultuous times
SLITO GAGNI
UDDENLY, nations face the inevitable: an oil price shock as the Israel-Iran conflict escalates. And when global oil prices rise, they don’t just move tickers in Singapore—they rattle the rearview mirrors of tricycle drivers from San Fabian, Pangasinan to Metro Manila and every dusty Philippine town in between.
Fuel hikes hit hard and fast. Tomatoes now cost P60 a kilo from P30. Pork has jumped to P400, garlic to P150, chicken to P220, and the ubiquitous onions present in food preparations have doubled to P80. “P20 ang krudo kahapon. Ngayon, P24. Bukas, baka P26 na,” says Mang Eddie, a trike driver for 27 years. He rubs his calloused palms, squinting not from the sun, but from doing the math. For every peso rise in diesel—up P4 per liter—his earnings shrink. His family eats less. In this three-wheeled economy, inflation isn’t abstract—it’s personal. It’s in a scrapped breakfast, a haggled fare, or the peso lost idling in traffic. It’s a budget bent at every turn. And for households, especially the poor and disadvantaged, the
specter of missed meals, the prospect of a child unable to go to college, and the hope of making the amortization for a house evaporates at payday. We can’t wait for fuel pumps to run dry or the peso to stutter. History is clear: those who hesitate suffer; those who prepare, adapt, and protect their people survive —transformed. Now is the time for foresight. Inflation will erode purchasing power, leaving families with less food, missed school meals, and cut medicine budgets. The government must act—decisively and swiftly. The Strait of Hormuz—artery to over 20 percent of the world’s oil— has become a flashpoint. A recent collision between two tankers has triggered fears of sabotage and war. Signal jamming now affects nearly
In this three-wheeled economy, inflation isn’t abstract—it’s personal. It’s in a scrapped breakfast, a haggled fare, or the peso lost idling in traffic. It’s a budget bent at every turn. And for households, especially the poor and disadvantaged, the specter of missed meals, the prospect of a child unable to go to college, and the hope of making the amortization for a house evaporates at payday.
1,000 vessels a day. Traders brace for Brent crude to breach $120, possibly $130, if conflict deepens. At home, that spells a surge in transport and food costs, and rising borrowing rates. If inflation spikes, the BSP may have to halt or even reverse planned rate cuts. Bond yields will climb, the peso may wobble, and the fragile post-pandemic recovery could falter. And companies with huge loans will have to pay through the nose for higher rates. Employment also declines. The economy will suffer at a time when so much is at stake. This oil crisis could turn out to be far worse and it is incumbent upon our government officials to set the wheels of governance. Until now, for instance, the
video, or audio clip shared publicly can potentially be harvested and used by malicious actors to create convincing deepfakes. Being mindful about what’s posted can reduce these vulnerabilities.
Collaboration is important. Businesses should actively engage with industry groups, technology providers, and government agencies to stay up to date on the latest threats and best practices. The DICT, for example, is already working with global AI leaders to develop watermarking and fact-checking systems for digital content, which could become a new standard for authenticity. Finally, promoting digital literacy within the organization and among stakeholders is essential. Encouraging a culture of critical thinking and healthy skepticism helps ensure that, as deepfakes become more sophisticated, employees and partners are less likely to fall for them. The more digitally literate your team is, the stronger your collective defense against deception. The reality is, deepfakes and AIdriven deception are here to stay— and as these technologies evolve, so too will the strategies of those looking to exploit them. We all need to stay alert and create an environment where verification and critical thinking are second nature.
officials of the Department of Public Works and Highways who have to be hauled to court for the Isabela bridge breakdown have remained scot-free. There is a need to check for abuse with the oil cataclysm upon us. The warning signs are here. Energy OIC Sharon Garin must revisit crisis strategies from the 1970s: negotiate for regional oil support, with Asean oil producers such as Malaysia, Indonesia and Brunei, adopt energy conservation measures like daylight saving time, and accelerate local oil exploration. After all, more drilling translates to possible strikes. The next oil shock won’t wait another generation. Let this be a lesson not just in fuel—but in resolve. Even as fires rage abroad, we can shield our people with foresight and care. The tanks may soon groan—but our response must not be empty. Because at the heart of every oil crisis is not just a spike in prices— it is a squeeze on lives. It is Mang Eddie skipping a second meal so his child can have a first. It is a mother calculating if the next jeepney ride is worth the day’s income. It is a student walking to school because the fare hike swallowed the baon.” These are the real costs—silent, invisible, but painfully real. We must not allow geopolitical tremors to become local tragedies. The government must move not just
“Gagni,”
Groundbreaking directions for principled tax planning
TJoel L. Tan-Torres
DEBIT CREDIT
Part three
AX administrations and professional institutions worldwide have adopted the reporting of principled tax practices by taxpayers planning and instituting the same. The recent initiative of the International Federation of Accountants’ (IFAC) principled tax planning guidelines for professional accountants (ihttps://www.ethicsboard.org/publications/final-pronouncement-revisions-code-addressing-tax-planning-and-related-services.) is just one of the many similar measures of tax authorities to curb abusive tax avoidance schemes. These global measures are used to distinguish principled tax planning (which complies with both the letter and spirit of the law) from aggressive or abusive tax avoidance. The IFAC has mandated that its member countries, including the Philippines, implement these Guidelines by July 1, 2025.
In the United States, the Internal Revenue Service (IRS) has long issued its General Anti-Avoidance Rules (GAAR) and enforced these through judicial precedents and Treasury Regulations. The key anti-avoidance doctrines used by the IRS for GAAR are Substance Over Form, Economic Substance Test, Business Purpose Concept, Sham Transaction Principle, the Step-up Transaction Approach, and several Transfer Pricing rules governing interrelated parties. These doctrines provide that when taxpayers adopt tax planning and compliance measures that lack economic substance, serve no business purpose other than tax avoidance, and involve contrived steps or arrangements to abet lowering of legal tax obligations, these taxpayers risk being scrutinized and questioned by tax authorities for the legitimacy or legality of such activities.
The Philippines has also adopted these same concepts and doctrines in the administration and interpretation of the Tax Code. As such, there are various tax assessments issued by the Bureau of Internal Revenue and jurisprudence from the Supreme Court and the Court of Tax Appeals where these issues are involved.
In the United Kingdom (UK), its tax laws are administered by Her Majesty’s Revenue & Customs. A law was passed in July 2013 that provides HMRC authority to institute GAAR and principled tax planning and compliance practices. The law covers taxpayer arrangements where one of the main purposes is to gain a tax advantage. These are deemed “abusive” tax transactions where the HMRC can make “just and reasonable” adjustments in the tax base, resulting in additional taxes with penalties up to 60 percent of the assessed taxes. The UK professional bodies, namely the Institute of Chartered Accountants in England and Wales and the Chartered Institute of Taxation, are updating their respective Professional Codes of Conduct in line with the IFAC’s pronouncements. These revisions include increased emphasis on client-informed consent, questioning of motives, and a duty to respond ethically when arrangements fall into GAAR risk. HMRC launched several measures to improve digital/professional interactions.
In Singapore, the Income Tax (Amendment) Act 2020 strengthened GAAR and provided a 50 percent penalty on tax assessment arising from sham or abusive transactions. The Inland Revenue Authority of Singapore can disregard or adjust arrangements that have tax avoidance as a main purpose and lack bona fide
Gagni. . . Continued from A10
The stage for immortal combat
WThere are more and more countries putting in place these GAAR and principled tax planning initiatives. It has been proven that these measures have been successful in curtailing the irregular tax practices of taxpayers and conniving tax practitioners and advisors.
commercial justification.
In Japan, while there is no specific GAAR provision in its tax law, aggressive tax planning and compliance measures are addressed by GAAR doctrines and rules that are implemented through judicial decisions and relevant provisions of the tax law, such as the anti-tax-avoidance provisions. The National Tax Agency of Japan follows a “substance over form” approach, allowing tax authorities to recharacterize or nullify artificial or sham transactions that lack economic or business purpose. This situation in Japan is similar to the Philippines. There are more and more countries putting in place these GAAR and principled tax planning initiatives. It has been proven that these measures have been successful in curtailing the irregular tax practices of taxpayers and conniving tax practitioners and advisors.
In the Philippines, the National Internal Revenue Code and the Bureau of Internal Revenue (BIR) have the experience and framework appropriate for the best practices discussed above to promote principled tax planning practice and GAAR measures. BIR Commissioner Romeo Lumagui Jr. has exhibited the mindset and fortitude in combating tax evasion practices of scrupulous taxpayers faking tax invoices, selling unpaid excise tax products, and tapping the services of conspiring tax practitioners in their illegal tax habits.
It is high time that these global tax best practices and tools be further instituted in the Philippine tax environment.
(To be continued)
Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held various positions, including Dean of the University of the Philippines Virata School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co., and the SyCip Gorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He has his own tax and consultancy practice in JL2T Consulting and can be contacted at joeltantorres@yahoo.com.
with urgency, but with empathy— crafting policies that reflect the struggles in sari-sari stores, carinderias, and homes where gas tanks now run on prayer. Strategic reserves, regional oil diplomacy, energy efficiency—these are not options. They are obligations. The world may be walking into an oil storm. But the Philippines need not go blindfolded. With clear-eyed resolve, bold leadership, and a pulse on the people’s pain, we can brace for the coming shock—not as victims, but as a nation prepared to protect every tricycle driver, every mother, every Filipino caught in the crosshairs of crisis.
Siegfred Bueno Mison, Esq.
THE PATRIOT
Final episode
ITH an incredible rise from the echelons of power to the prodigious power of the vice-presidency, Vice President Sara Z. Duterte has this sword of Damocles hanging over her head unless she can be cleared of charges primarily instigated by her use of confidential and intelligence funds. How this scenario pans out in the next months will pretty much dictate the course of the 2028 road to the presidency of VP Sara. Drawing against a protest for “repeatedly, egregiously, and grossly” violating her solemn oath of protecting and defending the Constitution of the Philippines, VP Sara stands under the sword that could cut her off from her high office and eventual higher office as the impeachment carries with it a permanent bar from holding any position in government.
Alluding to the allegations in the Verified Complaint for Impeachment, the people, through the House of Representatives, have demanded an explanation for the following acts purportedly pursued by the lady VP: Contracting An Assassin And Plotting To Murder Or Assassinate The Incumbent President, The First Lady, And Speaker Of The House Of Representatives, As Publicly Admitted By Her In A Live Broadcast; Misuse and Malversation Of Confidential Funds Appropriated To The Office Of The Vice President (OVP) And The Department Of Education (DepEd); Bribery And/Or Other Acts Of Graft And Corruption In Violation of Republic Act No. 3019; Amassing Unexplained Wealth And Failing To Disclose All Her Properties And Interests In Properties In Her Statement Of Assets And Net Worth (SALN), in Violation Of Section 17, Article XI Of The 1987 Philippine Constitution; Other High Crimes, Including The High Crime of Murder And Conspiracy To Commit Murder; Destabilization Constituting, At Least, A Betrayal Of Public Trust And/Or Culpable Violations Of The Constitution, And Even The High Crimes Of Sedition And Insurrection; Conduct Constituting A Betrayal Of Public Trust, Culpable Violations of the 1987 Constitution, and Graft and Corruption.
The sheer enumeration of these
charges has strongly tainted her integrity and character. Yet, the trial by the Senate awaits with the possibility that trial will not even take place! As the substantive grounds against VP Sara are ripe for legal proceedings, the Senate sitting as an impeachment court decided to remand the complaint back to the House. Her allies in the Senate may seem to have aided her. I disagree. After all, some well-meaning constitutionalists and even the respondent VP Sara herself wanted to have this impeachment complaint resolved. Perhaps confident that she wants to get this “monkey off her back”, VP Sara wanted a bloodbath between powerful political forces within the August chambers where she appears to have the numbers based on the results of the midterm elections this 2025. Impeachment is political in nature and is sui generis—a class of its own. In the 1987 Philippine Constitution, Article XI, Section 7 states that, “Judgment in cases of impeachment shall not extend further than removal from office and disqualification to hold any office under the Republic of the Philippines, but the party convicted shall nevertheless be liable and subject to prosecution, trial, and punishment according to law.”
Our Supreme Court elucidated quite wisely on this matter in an EN BANC ruling [A.M. No. 20-07-10-SC,
January 12, 2021] Re: Letter Of Mrs. Ma. Cristina Roco Corona Requesting The Grant Of Retirement And Other Benefits To The Late Former Chief Justice Renato C. Corona And Her Claim For Survivorship Pension As His Wife Under Republic Act No. 9946. Prescinding from the words of Father Bernas and Justice Storey, the SC stated that “Impeachment is, thus, designed to remove the impeachable officer from office, not punish him. It is purely political, and it is neither civil, criminal, nor administrative in nature. No legally actionable liability attaches to the public officer by a mere judgment of impeachment against him or her, and thus lies the necessity for a separate conviction for charges that must be properly filed with courts of law.” Simply put, should VP Sara be convicted, the principal effect is her ouster from the position of Vice-Presidency. But I think what pro-impeachment legislators are ultimately aiming for is the secondary effect —perpetual disqualification from holding public office. Even though post-impeachment processes, such as those recently initiated in the Ombudsman and other criminal and civil remedies, are available for the redress and punishment of offenses committed, a substantial number of legislators tremble and fear another Duterte presidency in 2028. I rather see VP Sara face the Senator-judges while defending the allegations hoisted against her. If proven guilty, the decision can be a victory for the constitutional provisions on public accountability, that is, removal of unworthy public servants. Any and all public officers owe it to the Filipino people to face all kinds of charges involving public trust, similar to how the impeachment complaint now stands. If proven innocent, the decision can be a victory for the constitutional restrictions on impeachment, that is, harassment of public officers.
The concept of accountability is as long-standing as the Bible. Jesus, our Savior, lived fully accountable to His Father throughout His ministry. And we are taught in Ephesians 5:21 to: “Be subject to one another in the fear of Christ.” There are many examples of accountability in the Bible: King Saul was held accountable by the prophet Samuel; King David was held accountable by the prophet Nathan; The apostles were accountable
to Jesus; Timothy was accountable to the apostle Paul. Moving further, we can draw a plethora of meanings from the concept of accountability, including submitting one’s self for “inspection” and “spiritual growth.” This component of accountability runs evenly and immediately for VP Sara as well as for our public officials and employees. Hence, she should be telling her allies in the Senate, Senators Dela Rosa and Padilla to name a few, that she wants this and needs this process to run its course. She and her team have claimed to be willing, able, and ready to defend those accusations. The best way to overcome the issues hounding her is to grab the bull by its horns in an arena provided for by the Constitution. When questions intrinsic in accountability accentuate the need for truth, the best way to answer them is to own up to whatever truth that can come out in the process. Buddha once said, “Three things cannot be long hidden: the sun, the moon, and the truth.” Regardless how the legislators expose or conceal what is true, the majority of the Filipinos who are believers and are truthseekers can witness what Jesus said, “The truth will set you free.” (John 8:32). Our country and its leaders demand this truth, VP Sara needs it and wants it as much. This raucous polemic of a fund that triggered an impeachment complaint needs closure. While half of the population may argue that government should focus more on inflation, unemployment, the looming oil price hike, the West Philippine Sea, I belong to the other half of the Filipinos who want to put meaning and consequence in the words—Public office is a public trust. VP Sara and the rest of our public officials, President Bongbong Marcos included, must, at all times, be accountable to the people they swore to serve.
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.
Trump’s twists and turns over Iran leave oil traders hanging
By Alex Longley and Yongchang Chin
THE oil market is wrestling with Donald Trump’s next act in the conflict between Iran and Israel, with the US president’s every utterance over the fighting seemingly capable of spiking or crashing prices.
In a wild week, Brent futures have surged 11 percent from before Israel attacked its nemesis, but with sharp moves up and down from one day to the next. From frenzied options markets, to soaring freight and diesel pricing, to a radical redrawing of crude’s pivotal forward curve, traders are braced for more volatility.
Central to everything is whether the Trump administration will lead the US into joining Israel’s attack on Iran. At one stage last week, it appeared more a question of when than if. That all changed late Thursday when the US president said he’d mull his decision for two weeks. In the short-term there’s little sign of disruption to oil flows from the region.
“Should the US provide direct military support to Israel and play its part in removing the current regime the initial market reaction will be a price spike,” said Tamas Varga, an analyst at brokerage PVM Oil Associates Ltd. His firm’s expectation is that oil will not become part of the conflict because it’s not in the interests of either side.
The fate of oil matters because it drives fuel prices and inflation — something Trump said he would quell when he was campaigning for office. In times of extreme volatility, shortages of oil have even precipitated recessions.
So far, there’s been no meaningful curtailment through the vital Strait of Hormuz, through which about a fifth of the world’s produced and consumed oil flows every day. Indeed, Iran even appears to be racing to lift its exports as part
of its logistical response to the conflict. Avoiding a wider conflagration and preventing disruptions to supply would push oil prices lower, while also bringing down everything that spiked in tandem with them. Against that, America joining could be all-defining, calling into question security through the waterway and from the region at large.
On Friday, Iran said it might consider adjustments to its enrichment program, driving down futures and reminding the world that Tehran’s actions are important to petroleum markets too. Among assets roiled by the tension are options contracts, where traders paid enormous premiums to hedge against further price spikes. At times since the conflict began, they paid the most to protect against a rally since at least 2013. Record volumes of bullish call options have changed hands since the attacks started.
Exiting trades
THERE are other clear examples of a market on edge.
Traders have been exiting futures positions at one of the fastest rates on record—an indication of both the stress that higher levels of volatility is placing on derivatives books, and the unpredictable path ahead.
In total, the number of futures contracts held on the main exchanges plunged by the equivalent of 367 million barrels, or about 7 percent, since the close on June. 12, the eve of Israel’s attack. Traders and brokers say the higher levels of volatility have made pricing deals
harder over the past week.
“Traders and analysts should be viewing the current oil price gyrations in the context of speculative de-risking,” said Ryan Fitzmaurice, senior commodities strategist at Marex Group Plc. “Going forward, market volatility and open interest will be key areas to watch.”
Much of the peril to the oil market is centered on the outlook for Hormuz, a vital conduit for not just Iranian shipments, but also for those of Saudi Arabia, Iraq, Kuwait and other members of the Organization of the Petroleum Exporting Countries.
The cost of hiring a ship to carry crude from the Middle East to China has jumped close to 90 percent since before Israeli attacks began. Earnings for vessels carrying fuels like gasoline and jet fuel have also leaped, as have insurance premiums. The danger to vessels in the waterway was underscored when two oil tankers crashed into each other in the region causing a fiery explosion—though on this occasion, the ship’s owner asserted there was no link to the conflict.
Still, almost 1,000 ships a day are having their GPS signals jammed, creating growing safety risks. The MICA Center, a French liaison between the military and commercial shipping, said the tanker crash was likely “aggravated” by jamming.
“Next days will be critical in determining whether a diplomatic solution with Iran is possible and if the US might resort to military action,” it said in an update. “Maritime trade is not being targeted. The situation might change abruptly.”
The risk to flows from the region, coupled with the sharp increase in shipping costs, is bolstering demand for crudes from outside of the Persian Gulf.
The most-immediate Brent futures closed at their strongest to the month after since September 2023 this week—a
sign traders are willing to pay hefty premiums to get crude right now. Buyers of Middle Eastern supplies are clamoring for regional grades loading in the Gulf of Oman. It’s not just flows of crude that are at risk either. Diesel futures in Europe soared as high as $107.54 a barrel on Thursday as a combination of fear about supply and position covering propelled prices higher. Diesel markets are particularly at risk of price spikes with stockpiles in some parts of the globe stubbornly low and refinery outages squeezing supply. Pullback risk THE higher different prices race, the greater the risk of a pullback if the prospect of de-escalation takes shape. And even if tensions do remain high, there’s precedent from a few years ago for a meaningful supply disruption to quickly get resolved.
When an attack in 2019 on processing facilities at Abqaiq in Saudi Arabia knocked out 7 percent of global supply, it took just a few weeks for crude futures to trade lower than before the attacks occurred, as supplies were quickly restored and backfilled.
That’s one reason, coupled with a persistent threat of geopolitical risks that often don’t morph into real supply curbs, why traders say prices haven’t spiked more in recent days. Pull back the curtain of this week’s trading frenzy and there’s an oil market that has spent much of the past few months fretting over the potential for oversupply.
Opec and its allies had been embarking on a bumper run of production increases just as US tariffs were menacing global consumption. Add a surge in output outside of the producer group and there was a widespread expectation that the market could be oversupplied later this year. Bloomberg
Monday, June 23, 2025
BusinessMirror
‘Konektado’ bill, a ‘red flag’ to investors, warns PCTO
By Lorenz S. Marasigan
THE country’s major telecommunications operators have warned that the Konektadong Pinoy Bill, in its current form, sends a “red flag” to investors by creating uneven regulatory standards that could stall infrastructure rollout and undermine long-term investments in the Philippine digital economy.
The Philippine Communications and Telecommunications Operators (PCTO) warned that the bill, while well-meaning, creates “preferential treatment” for new entrants—particularly satellite service providers—at the expense of long-standing players who have invested heavily in fixed and wireless networks across the country.
“Unfortunately, with this proposed law the current infrastructure builders, too, will be disincentivized. Precisely because the current framing creates an uneven playing field. It would create a new category of providers exempt from obligations that existing
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noted that residents had only a 60 to 90-second window to reach bomb shelters and take cover.
Freshly
Dtelecommunications companies must meet—franchises, infrastructure, and compliance standards—without offering commensurate accountability. This is preferential treatment that any investor would see as a red flag,” the group said.
The Konektadong Pinoy Bill seeks to expand internet access by removing the requirement for a legislative franchise for certain types of internet providers, including satellite operators, and by promoting technology-neutral approaches to connectivity.
However, the PCTO argued that while the measure claims to be technology-neutral, it introduces a bias favoring satellite-based services, an option the group said is dominated by foreign firms, expensive to scale, and not guaranteed to reduce consumer costs.
Moreover, these satellite firms would be exempt from the obligations—such as infrastructure rollout in underserved areas and support during national emergencies—that cur-
No repat requests yet from other ME areas DESPITE the escalation of the conflict in the Middle East the Department of Migrant of Workers (DMW) said other overseas Filipino workers (OFW) in their top destination countries in the region,
rent franchise-holders are mandated to fulfill.
“This bill doesn’t reform an uneven system. It creates another “only in the Philippines” scenario—one where foreign satellite providers are allowed to offer services directly to communities without going through any locally regulated entity. Nowhere else in the world is such a model implemented without safeguards,” the group said.
The group also raised concerns that smaller internet resellers, which rely on infrastructure developed by licensed telcos, could further fragment the market without contributing to its growth or resilience.
“These small players are often focused on sales, not on building or maintaining infrastructure,” PCTO said, noting that their reliance on existing networks without corresponding investment results in “ruinous competition and a fragmented, unstable market.”
The industry group, whose members include the country’s biggest
such as the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), have yet to request for repatriation.
In a Viber message on Sunday, DMW Assistant Felicitas Q. Bay said most OFWs seeking government aid to be brought home due to the ongoing
network operators, emphasized they are not opposing reforms, but stressed that changes should apply uniformly across all players.
“This is not a game we invented; it is the legal regime with which we simply complied. If there is to be any change in this reality—if, let us say, franchise requirements are to be removed—what all sides are now calling for is simple: the same rules for all,” the PCTO said.
The group also expressed support for President Ferdinand Marcos Jr.’s cautious stance on the bill, signaling a willingness to work with lawmakers to refine the proposal.
“We remain open to working with Congress and all stakeholders to improve this bill. We remain confident that, together, we can get this right,” the PCTO said.
The Konektadong Pinoy Bill, which was passed on third reading in February, aims to ease market entry for more than 1,000 small Internet providers, particularly in Geographically Isolated and Disadvantaged Areas (GIDAs).
armed conflict in the Middle East are from Israel.
“None at this time,” Bay said when asked if they have received repatriation requests from OFWs in KSA, UAE and Kuwait.
“Those seeking repatriation are from Israel. In Lebanon, the voluntary repatriation program is
BOC SEIZES P219.5-M SMUGGLED FUEL IN ‘PAIHI’ SCHEME AT LA UNION PORT
By Reine Juvierre S. Alberto @reine_alberto
SMUGGLED diesel fuel amounting to P219.5 million was seized by the Bureau of Customs (BOC) from a motor tanker illegally transferring unmarked fuel to lorry trucks at the La Union Port. In a statement over the weekend, the BOC said a total of 259,000 liters of diesel fuel were discovered to be involved in a “paihi” scheme, or the illegal transfer of fuel, on June 19.
According to the BOC, an initial inventory revealed that motor tanker Bernadette was loaded with about 200,000 liters of diesel fuel, while two lorry trucks contained 19,000 liters and 40,000 liters of diesel fuel, respectively.
“The MT Bernadette was in the process of transferring diesel fuel to a lorry truck when our team apprehended them at around 9:45 in the evening of June 19. Two lorry trucks were found containing diesel fuel from the motor tanker,” BOC-Customs Intelligence and Investigation Services Director Verne Enciso said. Enciso said the CIIS-Manila International Container Port (CIIS-MICP) agents, the Philippine Coast Guard (PCG) Task Force Aduana and the National Bureau of InvestigationOrganized and Transnational Crime Division (NBI-OTCD) conducted intelligence and enforcement operations after receiving reports about the scheme.
A total of 21 people were apprehended after 10 crew members of MT Bernadette failed to present documents to prove the legality of the activity at the time of their apprehension. Other 11 individuals identified as drivers, porters, lookouts and accomplices in the modus were caught, the BOC said. The inquest proceedings of the crew, drivers and other accomplices involved in fuel smuggling have also begun. The
ongoing because it [under] is Alert Level 3,” she added, partly in Filipino. Recruitment consultant Emmanuel Geslani said OFWs in other Middle East countries are now closely monitoring the situation since the conflict can spread to the neighboring countries of Israel and Iran.
“The OFWs are now very nervous with this latest development overnight as President Trump decided to bomb Iran,” he said in a statement. DMW Secretary Hans J. Cacdac is in Jordan to coordinate government repatriation initiatives in the Middle East. With Samuel P. Medenilla
Mind Care Center’s Prof. Yeng Gatchalian: ‘Mental health is vital, seek help, nurture bonds’
By Francine Y. Medina
uring the early years of the Covid-19 pandemic, the World Health Organization (WHO) released a report on the global prevalence of anxiety and depression, which has increased by 25 percent. The scientific brief was an urgent call to countries to include mental health services as part of their response to the worldwide pandemic.
Freshly Brewed
Today, the impact of the pandemic remains indelible as people will always have the collective anxiety of having gone through unprecedented circumstances such as being isolated at home, working and studying from home, losing jobs or businesses, being afflicted with Covid-19, or losing loved ones due to the infectious disease. In the latest episode of BusinessMirror’s digital show, “Freshly Brewed,” Professor Mariflor “Yeng” Gatchalian, Chief Psychologist and Head of the Mind Care Center of Perpetual Help Medical Center - Las Piñas (PHMC-LP), sat down with Health and Fitness editor, Anne Ruth Dela Cruz, for an enlightening conversation on the importance of mental health care and awareness, and how the center is addressing the various mental health challenges of its clients. Launched three years ago, the Mind Care Center is under the hospital's Department of Psychology. It’s the brainchild of PHMC-LP Medical Director Dr. Adrian Quidlat with the support of Hemilyn E. Tamayo, a developmental psychologist.
The center offers a range of services, from psychological assessment, psychotherapy, counseling, trainings, seminars, team building
facilitation, internship, to practicum supervision of undergraduates and graduates, and mental health certification.
On the difference between centers in other hospitals that are run by psychiatrists instead of psychologists, Gatchalian clarified, “A center run by psychiatrists follows the medical framework, so they give medications. Psychologists are not medical doctors, so the type of treatment we provide is psychotherapy. We help in the management of behavior, thought processes, and emotions of our clients. We also do psychological testing as the main tool for assessment.”
Last April, the Mind Care Center’s CARE Program bagged the accolade for Health and Wellness Initiative category at the prestigious Healthcare Asia Awards, a well-recognized media platform in the Asian region.
According to Gatchalian, the hospital’s CARE program (an acronym for compassion, affirmation, recognition, and expression) goes beyond patient care but also covers personnel care. It carries the framework of psychological first aid, wherein we help each other look for people who will be needing help, what they need, and
how we can link them to their needs.”
Through the CARE program, the Mind Care Center provides events for the hospital personnel. Small gestures of appreciation are part of the initiatives, which would include giving out origami hearts with encouraging messages, for instance, during Valentine’s Day. Gatchalian observed that little acts like giving humble tokens such as flowers and chocolates, and heartfelt greetings from the staff especially during special occasions readily elicit smiles that are enough to boost one’s well-being. Also in the works is the Akay program, which also follows the psychological first-aid framework in conducting help to patients.
Digital detoxification
When Covid-19 happened, people took to social media to get connected with the rest of the world. But the information overload had its own downside, especially among the Generation Z who were in their delicate adolescent phase at that time. Studies claim that FoMo or slang for fear of missing out eventually caused even more
and
“A big chunk of our clients are actually adolescents. You will really see that they have a need for detoxification because of the overwhelming information that they get from social media. And not just overwhelming information but also overwhelming disinformation. They don’t know what to believe in. And sometimes when they come to see us, they have a tendency to give the diagnosis, like they already know.”
Gatchalian cautions against selfdiagnosing—by researching symptoms on the net and declaring that one is afflicted with a disorder. Seeking professional help is important, she said. “Sometimes, when I ask patients what they are feeling, they’d tell me a checklist of symptoms that seem to be ‘Google-ish’ words. That could be dangerous because they would then to believe that they already have the condition even if they don’t have it.”
“I think that’s part of the misinformation and overusing the digital world,” she noted.
Diagnosis requires going through a process, she reiterated. First is the intake interview followed by various tests to aid in the diagnosis. The assigned psychologist will then sit down with the client to give them the feedback and explain to them what they are going through.
“So, we talk to them about their case formulation. Explain to them what the possible
reasons are for what they’re experiencing. Giving that background is very helpful to them,” said Gatchalian.
Asked by Dela Cruz on what other challenges are faced by today’s youth, the PHMC-LP Mind Care Center chief psychologist replied that conflict in the family and isolation are two of the reasons that affect their mental health.
She said that Gen Z-ers tend to lessen their interactions with family members due to the increased time they spend with their gadgets.
“Covid-19 is just one phase because it was a time when we had the biggest appreciation of technology,” Gatchalian said, “It’s more convenient, more comfortable than going to the mall to shop or visiting a friend’s house than spending for transportation. It was found to be convenient at that time and even up to this point, we still enjoy its conveniences.”
The next post-pandemic phase should include nurturing human connections and having a healthy dose of time for social media. She suggested, “Don’t isolate yourself. Talk to humans. Less gadgets. You need to do more physical activities because your brain will function more if your senses go with it.”
Instead of playing online chess, she recommended playing the board game itself where one can really touch and move the pawns. This way, the experience will be
deeper, she added. Gatchalian referred to the center’s CARE principles of “compassion, affirmation or appreciation, recognition, and expression” as important steps in managing one’s mental health. She explained, “When you take care of yourself, you have to remember that you need to be compassionate to yourself and to other people. We also need to create resilient habits to avoid higher levels of distress. Aside from that, we also need to learn how to appreciate because appreciation gives us positive emptions.
“Recognize what you’re going through whether it positive or negative. You don’t need to deny it. If you’re not feeling so good, seek help or talk to your friend or family, somebody you can trust. Express your feelings. Express through the arts or express by talking to people because expressing yourself will give you other perspectives to your experience.”
Prof. Mariflor "Yeng" Gatchalian, Head of The Mind Care Center of Perpetual Help Medical Center-Las Piñas, discusses the effects of social media on mental health with Anne Ruth Dela Cruz, Health and Fitness Editor of BusinessMirror.
Prof. Mariflor "Yeng" Gatchalian, Head of The Mind Care Center of Perpetual Help Medical Center-Las Piñas Anne Ruth Dela Cruz, Health and Fitness Editor of BusinessMirror
Editor: Jennifer A. Ng
Power firms’ transmission hub proposals get ERC nod
By Lenie Lectura @llectura
THE Energy Regulatory Commission (ERC) has authorized five power firms to develop and own their proposed point-to-point transmission facilities to connect their power projects to the national grid.
These projects are all renewables with a total capacity of 569.384 megawatts (MW) and 60MW Battery Energy Storage System (BESS).
SMGP (San Miguel Global Power)
BESS Inc. applied for authority to develop, own, and operate a dedicated point-to-point limited transmission facilities to connect the 60 MW Lumban BESS to the Luzon grid, via
the Lumban 69 kilovolt (kV) of the National Grid Corporation of the Philippines.
Megasol Energy 1 Inc. is developing a 41.244 MW Gamu solar power plant project. It needs to do the same through a tap connection along NGCP’s 69 kV Gamu-Roxas transmission line.
Energy Development Corp. also proposed to develop, own, and operated a dedicated operate a dedicated point-to-point limited transmission facilities to rehabilitate the connection of Bago Binary geothermal power plant to the 138kV Bacolod substation of NGCP.
Cornerstone Energy Development, Inc. also asked approval to
connect its 58.5MW Camarines Sur wind power plant project to the Luzon grid via the Naga-Libmanan 69kV transmission line of the NGCP.
The ERC also received an application from Sapang Balen Solar Sustainable Energy Corp. for the construction of a point-to-point limited transmission facilities to connect the 463.995 MW Sapang Balen 2 solar power plant to the Luzon grid via NGCP’s MexicoConcepcion 230 kV line and 230kV substation.
The Commission authorized them to develop and own their proposed dedicated point-to-point limited transmission facilities to connect their power projects to the grid.
Prime Water soon to finish SJDM project
THE PrimeWater San Jose del Monte (SJDM), in partnership with the SJDM Water District, announced it will soon complete an upgrade of a transmission line extension project within the month.
The transmission line segment 2 extension project that spans from Barangay Tungkong Mangga to Barangay Gaya-Gaya Segment 1 is meant to enhance water supply in San Jose Del Monte, Bulacan.
In a statement, the company said the project is expected to be finished by the end of June.
The project will address higher elevation zones within the said area where supply is currently difficult to reach. This work, it added, is part of ongoing major in -
By Henry Empeño
UBIC BAY FREEPORT—Pub -
Slicly-listed Wilcon Depot Inc. has announced plans to open a P700-million branch here, promising accessibility and convenience to the growing number of companies and homeowners in this free port.
This was announced by the Subic Bay Metropolitan Authority (SBMA) last Thursday following the signing of a lease agreement for the project by Wilcon Depot Chairman Emeritus William T. Belo and SBMA Chairman and Administrator Eduardo Jose L. Aliño.
The Wilcon Depot branch will occupy a 5,308-square meter lot along Sampson Road, the former location of a US Navy commissary store in Subic that also housed a popular duty-free shop following the turnover of the military base from the US government in 1992.
frastructure upgrades to enhance water supply and availability in the said city.
“We are upgrading both our storage and transmission systems to ensure that we will be able to supply our concessionaires sufficiently. The project is in near completion and we are optimistic that once it is completed, the significant impact will be felt by our subscribers,” PrimeWater said.
The said areas are expected to
receive 16 to 24 hours of water supply service when the project is finished. In addition to improving water distribution for around 18,000 concessionaires, it also has the capacity to support an estimated 4,000 new service connections.
The company said the partnership has been able to increase water supply service from 85.223 million liters of water per day (MLD) to 122.356 MLD.
Recently, the Interconnection Point 2, located in Barangay Muzon Poblacion has been completed to address the pressure imbalance and supply limitations in the city’s most densely populated area, benefiting around 28,000 concessionaires by connecting
The project will include the renovation of Building 640 in the area and the construction of a Wilcon Depot showroom, according to the SBMA. Wilcon Depot, which counts more than 100 stores nationwide, reputedly carries the most extensive product selection of local and international brands of quality home improvement and construction supplies. These range from tiles, sanitary wares, hardware and plumbing essentials, to tools, furniture, appliances and DIY items.
Wilcon Depot opened its 103rd store in Cordova, Cebu last May 23, a company announcement read.
Aliño welcomed the establishment of a Wilcon store in Subic, pointing out the expected customer traffic it would generate here, as well as the employment opportunities to be created for local jobseekers.
The company will be hiring some 200 personnel for its Subic operation, the SBMA chief said.
and optimizing multiple water sources in the network.
PrimeWater and San Jose del Monte said they are committed to work together to ensure that the water system keeps up with the demand, and supply in Bulacan.
TBy Andrea San Juan @andreasanjuan
HE $560 million Wasteto-Energy (WtE) facility that is set to rise at the former Smokey Mountain landfill is expected to create 1,000 jobs, according to the Department of Trade and Industry (DTI).
The expectations rose after President Ferdinand R. Marcos Jr. and government officials met with executives from Japan’s Kanadevia Corp. and Philippine Ecology Systems Corp. (Phileco) to discuss the WtE project.
“Kanadevia, formerly known as Hitachi Zosen Corp., will partner with Phileco to bring advanced Japanese environmental technology to the Philippines, showcasing Japan’s continued confidence in investing in Philippine infrastructure,” read the statement the DTI issued over the weekend.
The Trade department said the jobs expected created by the project marks a “significant boost for employment in the country through infrastructure development.”
Trade and Industry Secretary Cristina A. Roque will assess Kanadevia’s eligibility for fiscal and non-fiscal incentives under
the “Create More” law and other investment-related promotion programs. According to the Trade department, the proposed WtE facility set to rise at the former Smokey Mountain landfill will “significantly” reduce landfill dependence by as much as 90 percent. Moreover, it is seen to “bolster” flood mitigation efforts, directly improving the quality of life for communities in the capital by “thermally treating 3,000 metric tons of non-recyclable municipal and industrial waste daily to produce up to 100 MW of clean energy.”
Currently, Kanadevia, in partnership with Toyo Construction and IHI Construction Service is undertaking the rehabilitation of the Pasig-Marikina River, the DTI noted. The project is slated for completion by January 2030.
The Trade department said Kanadevia has set a global record of 1,575 WtE plants built to date. “Kanadevia’s entry into the Philippine market contribute to the country’s national solid waste modernization goals, offering long-term socio-economic advantages through employment and green technology transfer,” DTI noted.
Lenie Lectura
WILCON Chairman William T. Belo (left) and SBMA Chairman and Administrator Eduardo Jose L. Aliño display a lease agreement they just signed for the P700-million Subic Wilcon Depot project. CREDIT: HENRY EMPEÑO
Rising oil prices may bar BSP from rate cuts–Citi
not materializing,” Citi said.
By Reine Juvierre Alberto @reine_alberto
RISING oil prices could stand in the way of the Bangko Sentral ng Pilipinas (BSP) in reducing the key policy rate beyond August, even as monetary officials signal dovishness, according to a research paper by the Citibank N.A. Manila Branch.
In its latest economic report on the Philippines, the Philippine branch of Citibank N.A. forecasts the BSP to deliver three more 25-basis points (bps) rate cuts in August, October and the first quarter of 2026.
Last week, the Monetary Board reduced the BSP’s target reverse repurchase rate by 25 bps to 5.25 percent. The interest rates on the overnight deposit and lending facilities were adjusted to 4.75 percent and 5.75 percent, respectively (See: https://businessmirror. com.ph/2025/06/20/bsp-cutsrates-anew-by-25-bps-1-moreseen/ ).
BSP Governor Eli M. Remolona Jr. said that “if things remain on track,” one more rate cut could be expected.
“Depending on the data, we may cut twice more; depending on the data, we may not cut at all. But for now, things remain on track, one more, one more 25 basis points,” Remolona has said.
Risks
CITI, however, flagged that either the timing or depth of its expected rate cuts in October and next year could change on account of incoming data, geopolitical developments and the impact of global oil prices and the Philippine peso.
“Risk scenario is that expected cuts beyond August do not materialize,” the lender’s briefing paper read.
According to Citi, if oil prices further spike to $85 per barrel by the end of the year, this could lead the BSP to revise its 2025 inflation forecast upward by around 30 bps.
“While not necessarily derailing our expectation for an August cut given still currently high levels of real policy rates, it would increase the risk that our expectations for an October and first quarter of 2026 cut
Banking&Finance BOI to apply new fiscal perks for auto makers in 2 months
This is more so if the US Federal Reserve does not cut rates as expected and if the peso comes under pressure and heats inflation.
The BSP projects inflation to fall to 1.6 percent from 2.4 percent for 2025. However, inflation is expected to increase to 3.4 percent from 3.3 percent in 2026 and to 3.3 percent from 3.2 percent in 2027.
The central bank also recognized that a rise in oil prices, electricity rate adjustments and higher rice tariffs would add to inflationary pressures.
Still, Citi said it does not expect a major oil supply disruption as current oil prices at around $75 per barrel include a $10 to $15 risk premium due to tension.
Assumptions
THE BSP is now assuming an oil price of $71 per barrel, which is slightly above the January to May average of around $70 per barrel, based on Citi’s estimates. However, this is still below last year’s average of about $80 per barrel.
“We have seen oil prices continue to come down until recently. But even with the more recent numbers of international oil prices, it continues to be relatively lower than what we were seeing last year,” BSP Deputy Governor Zeno Ronald Abenoja said.
Meanwhile, Remolona said a “bad” scenario, such as Dubai crude oil prices going up to a hundred and the peso depreciating sharply, would have a “very big effect” on the country’s inflation (See: https://businessmirror.com.ph/2025/06/20/ phl-vulnerability-to-global-jitters-could-drive-inflation/
If these do not materialize, then the BSP could continue to reduce key policy rates, Remolona said.
Global uncertainties could also make Filipino households cautious in securing loans, and be a threat to growth, as spending forms 70 percent of the country’s gross domestic product.
Citi said the BSP will remain data-dependent in its decisions, as the Monetary Board said it would closely monitor “emerging risks to inflation” and “assess the impact of prior monetary policy adjustments.”
TBy Andrea E. San Juan
HE Board of Investments (BOI) aims to issue by August the measure implementing new incentives program for local car manufacturers.
BOI Managing Head and Trade Undersecretary Ceferino S. Rodolfo told reporters last Thursday that the agency has received “all of the comments of the relevant agencies.”
We are now finalizing the instrument that will implement the “Revitalizing the Automotive Industry for Competitiveness Enhancement,” or “Race,” program, Rodolfo said.
He added that car-makers can expect the Joint Administrative Order (JAO) issued in the next two months.
The JAO for the Race program was initially scheduled to be implemented last March. However, progress was stalled because relevant agencies were still gathering their inputs for the incentives program, according to the BOI.
With this, Rodolfo said car-makers who wish to participate in the incentives program may start applying “maybe towards the end of the quarter or on the third month of the third quarter.”
The JAO is expected to be signed by officials of BOI parent the Department of Trade and Industry (DTI), the Department of Finance (DOF) and the Department of Budget and Management (DBM).
Trade and Industry Secretary Cristina A. Roque earlier said the Race mechanics are contained in a program concept that was submitted to Congress for approval and consideration in the 2025 General Appropriations Act (GAA). The DTI secured a win in this proposal.
PHL to host resource governance confab next year
THE Philippines is set to host the “2026 Extractive Industries Transparency Initiative (EITI) Global Conference” in June next year, to advance transparency and accountability in managing oil, gas and other mineral resources.
In an announcement on EITI’s website, the conference will be held in the Philippines in 2026 and bring over a thousand stakeholders from governments, companies, civil society and academia to share good practices in natural resource governance.
“Hosting the 2026 EITI Global Conference underscores our dedication to the EITI’s principles and our efforts to put good governance and sustainable resource management at the heart of the extractive industries,” Finance Secretary Ralph
CENTRAL bankers in the United States, United Kingdom and Japan held the line on interest rates this week as officials attempt to gauge the impact of tariffs, uncertainty about economic activity and war in the Middle East. While the median forecast from US Federal Reserve officials showed two interest-rate cuts by the end of the year, seven policymakers—up from four at the March meeting—indicated they see no reduction. The Bank of Japan (BOJ) unveiled a plan to ease the pace of its reductions to monthly bond purchases to ensure market stability while sticking to a path
G. Recto was quoted as saying in a statement.
“It reflects the Philippines’s firm resolve to lead by example in promoting transparency, strengthening accountability and ensuring that our natural resources are managed sustainably,” Recto added.
The agenda will focus on the EITI’s strategic priorities, such as advancing anti-corruption efforts, bolstering domestic resource mobilization and informing responsible resource governance policies through energy transition.
Recto said the event will also explore innovations in data use and transparency, as well as address emerging issues in the extractive sector.
“We believe this conference can
of normalization that includes the possibility of more rate hikes. The vote by Bank of England policymakers to hold rates steady was more divided than expected, leaving UK central bankers on course for a possible rate cut in August.
World JAPAN’S once-slumbering bond market has roared back to life with a burst of volatility that is echoing around the world. Major debt markets have moved in tandem with Japanese government bonds during the recent rout, with a spike in super-long yields in the Asian nation amplifying ructions fueled by global fears of widening fiscal deficits.
offer not only ideas but solutions, especially for countries in the Global South,” Recto said. “The 2023 EITI Standard can be leveraged to fight corruption, improve public policy and support equitable development.”
The Philippines joined the EITI in 2013 to promote transparency and accountability and participate in multi-stakeholder engagement, including at the local level.
“We are delighted to partner with the Government of the Philippines to host the 2026 EITI Global Conference,” EITI Board Chairman Helen Clark said.
“At a time of growing demand for critical minerals, the EITI Global Conference will convene global stakeholders to reaffirm the importance of responsible and transparent
wrestle
Instead of processing
resource management,” Clark added.
This will be the 10th EITI Global Conference and the first to be held in an EITI implementing country in Asia.
The EITI is a global standard of transparency that requires oil, gas and mining companies to publish what they pay to the government, reporting the benefits they receive from their country’s natural resources.
In turn, the government must publish what it collects from these companies for transparency.
The EITI aims to address the resource curse phenomenon in resource-rich but poor economies by publishing material information on payments and revenues.
Alberto
Reine Juvierre S.
Frederick D. Go, Special Assistant to the President for Investment and Economic Affairs of the Philippines (Sapiea), revealed last March that the government came up with the Race program to continue supporting the auto industry.
According to Go, while the previous administration came up with its “Comprehensive Automotive Resurgence Strategy,” or “Cars,” program, “we want to continue promoting the vehicle industry.”
“That’s why the DTI now came up with ‘Race.’ In other words, it is ‘Cars 2.0;’ because ‘Cars’ is finished,” he added.
The President’s economic czar said this incentives program is a “continuation” of the government support for cars run by internal combustion engine (ICE).
Ma. Corazon H. Dichosa, the executive director for the Industry Development Services of the BOI, said the government is allocating a total of P9 billion in fiscal support for the three participants. The fund came from the unused third slot in the previous 6-year Cars program.
“In Cars, we had P27 billion for three models; basically P9 billion per model,” Dichosa said. “But only
two slots were taken up; so one slot at P9 billion was unused. This is the budget now being used for ‘Race.’” The Race program will cover the production of three specific models of 4-wheeled ICE vehicles, with a commitment to manufacture 100,000 units.
This program, the BOI said, will offer a “time-bound” direct subsidy based on capital expenditure and volume of production of qualified automotive manufacturers.
Dichosa said the program is supposed to be for three years, “equivalent to the Cars extension period earlier requested.”
“Total fiscal support for the program shall not exceed P9 billion, with each participating car maker [PCM] qualified to a fiscal support not exceeding P3 billion on the capital expenditure of the Participating Car Maker for tooling and equipment to manufacture the model,” read a briefing paper on the Race program. Each PCM may be entitled to avail of the Fixed Investment Support (FIS) equivalent to not more than 40 percent of capital expenditure.
(See: https://businessmirror.com. ph/2025/02/19/new-perks-planfor-car-makers-out-soon/)
Sen. Go backs expanded kidney transplant benefit package of Philhealth
SENATOR Christopher Lawrence “Bong” T. Go reiterated the urgent need to sustain and deepen reforms in the Philippine Health Insurance Corp. (PhilHealth) to ensure that all Filipinos, especially the poor and marginalized, benefit from improved and accessible healthcare services.
Among the recent developments he advocated for is the expanded kidney transplant benefit package, which he welcomed with a firm reminder that such gains must translate into real, felt outcomes for indigent patients on the ground, a statement he issued read.
Under the new scheme, financial coverage for kidney transplants has been increased from P600,000 to P2.1 million. Dialysis support has also been raised to nearly P1 million per patient, now including essential laboratory tests and maintenance medicines—components that often burden families with out-of-pocket expenses.
As chairman of the Senate Committee on Health, Go welcomed the expansion but stressed that well-crafted programs must be properly implemented at the grassroots level.
PhilHealth President and CEO Edwin M. Mercado said the expanded coverage is backed by the agency’s corporate operating budget and is designed to support the long-term health of transplant recipients through continuous access to medications and post-operative care.
In response, Go reminded health authorities to prioritize indigent patients who are often uninformed of such benefits entitled to them.
Ang mahalaga, may aktuwal na pasyenteng natutulungan sa mga lugar na malayo sa sentro,” he stressed.
Go also urged the Department of Health (DOH), PhilHealth and local government units (LGUs) to coordinate closely in tracking the progress of the program’s rollout and addressing potential bottlenecks in the field.
“Kung may benepisyong ganito kalaki, dapat sabayan natin ng maayos at mabilis na implementasyon. Ipaalam ito sa mga Pilipino, lalo na ‘yung mga mahihirap,” he added.
After numerous appeals from Go, PhilHealth has officially committed to implementing a wide range of reforms aimed at making healthcare more accessible and affordable for Filipinos, especially the poor and marginalized. Following the long-overdue scrapping of the “single period of confinement” (SPC) policy, Go also called attention to the anti-poor 24-hour confinement rule, which prevented patients from availing of PhilHealth benefits unless confined for at least a day.
In response, the PhilHealth has repealed the policy and expanded coverage for emergency outpatient services, addressing a long-standing gap in the system.
Notably, the PhilHealth also lifted the 45-day annual limit on hospitalizations for members and their dependents, allowing continued coverage for prolonged illnesses— especially those involving chronic or life-threatening conditions. The agency has, likewise, begun increasing case rates across the board to significantly reduce out-ofpocket costs for patients while adjusting benefit packages for specific illnesses such as urinary tract inflection, influenza, and acute gastroenteritis. However, Go emphasized the need for continued reforms.
PhilHealth has also committed to enhancing benefits packages for the country’s top mortality diseases, including heart ailments, diabetes, and respiratory conditions. Go welcomed this, reiterating that expanded coverage must go hand-in-hand with strengthening facilities and healthcare manpower across the country.
With healthcare costs continuing to rise, Go assured that he will remain vigilant in pushing for initiatives that protect the well-being of Filipino families.
“For my second term, with all sincerity, I will continue to push for pro-poor programs and laws, especially on health. Health is wealth. We must work together to bring quality medical services closer to our people, particularly the poor and indigent patients. Ang kalusugan ay katumbas ng buhay ng bawat Pilipino,” affirmed Go in his proclamation speech.
What to know about the key Iranian nuclear sites that were hit by US strikes
By Jon Gambrell The Associated Press
US forces have attacked three Iranian nuclear and military sites, further upping the stakes in the Israel-Iran war.
President Donald Trump said the strikes, which he described as “very successful,” had hit the Natanz, Fordo and Isfahan sites, with Fordo being the primary target. The Atomic Energy Organization of Iran confirmed there were attacks early Sunday at all three nuclear sites.
Israel launched a surprise barrage of attacks on sites in Iran on June 13, which Israeli officials said was necessary to head off what they claimed was an imminent threat that Iran would build nuclear bombs.
Iran, which has long insisted its nuclear program is peaceful, has retaliated with a series of missile and drone strikes in Israel, while Israel has continued to strike sites in Iran.
The US and Iran had been in talks that could have resulted in the U.S. lifting some of its crushing economic sanctions on Iran in exchange for Tehran drastically limiting or ending its enrichment of uranium. Until Saturday, Washington had helped shoot down Iranian strikes on Israel but had not launched direct attacks on Iran.
Here’s a look at the sites Trump said the US struck and their importance to Iran’s nuclear program.
Natanz enrichment facility
IRAN’S nuclear facility at Natanz, located some 220 kilometers (135 miles) southeast of Tehran, is the country’s main enrichment site and had already been targeted by Israeli airstrikes. Uranium had been enriched to up to 60 percent purity at the site—a mildly radioactive level but a short step away from weapons grade—before Israel destroyed the aboveground
part of the facility, according to the UN’s nuclear watchdog, the International Atomic Energy Agency.
Another part of the facility on Iran’s Central Plateau is underground to defend against potential airstrikes. It operates multiple cascades, or groups of centrifuges working together to more quickly enrich uranium. The IAEA has said it believes that most if not all of these centrifuges were destroyed by an Israeli strike that cut off power to the site.
The IAEA said those strikes caused contamination only at the site itself, not the surrounding area. Iran also is burrowing into the Kūh-e Kolang Gaz Lā, or Pickax Mountain, which is just beyond Natanz’s southern fencing. Natanz has been targeted by the Stuxnet virus, believed to be an Israeli and American creation,
which destroyed Iranian centrifuges. Two separate attacks, attributed to Israel, also have struck the facility.
Fordo enrichment facility
IRAN’S nuclear facility at Fordo is located some 100 kilometers (60 miles) southwest of Tehran. It also hosts centrifuge cascades, but isn’t as big as Natanz. Its construction began at least in 2007, according to the IAEA, although Iran only informed the UN nuclear watchdog about the facility in 2009 after the US and allied Western intelligence agencies became aware of its existence.
Buried under a mountain and protected by anti-aircraft batteries, Fordo appears designed to withstand airstrikes. Military experts have said it could likely only be targeted by “bunker buster”
bombs—a term for bombs that are designed to penetrate deep below the surface before exploding—such as the latest GBU-57 A/B Massive Ordnance Penetrator bomb in the American arsenal. The roughly 30,000 pound (13,600 kilogram) precisionguided bomb is designed to attack deeply buried and hardened bunkers and tunnels.
The US has only configured and programed its B-2 Spirit stealth bomber to deliver that bomb, according to the Air Force. The B-2 is only flown by the Air Force, and is produced by Northrop Grumman, meaning that Washington would have to be involved in such an operation.
Isfahan Nuclear Technology Center
THE facility in Isfahan, some 350
kilometers (215 miles) southeast of Tehran, employs thousands of nuclear scientists. It also is home to three Chinese research reactors and laboratories associated with the country’s atomic program.
Israel has struck buildings at the Isfahan nuclear site, among them a uranium conversion facility. The IAEA said there has been no sign of increased radiation at the site.
Other nuclear sites
IRAN has several other sites in its nuclear program that were not announced as targets in the US strikes.
Iran’s only commercial nuclear power plant is in Bushehr on the Persian Gulf, some 750 kilometers (465 miles) south of Tehran. Iran is building two other reac -
tors like it at the site. Bushehr is fueled by uranium produced in Russia, not Iran, and is monitored by the IAEA.
The Arak heavy water reactor is 250 kilometers (155 miles) southwest of Tehran. Heavy water helps cool nuclear reactors, but it produces plutonium as a byproduct that can potentially be used in nuclear weapons. Iran had agreed under its 2015 nuclear deal with world powers to redesign the facility to relieve proliferation concerns.
The Tehran Research Reactor is at the headquarters of the Atomic Energy Organization of Iran, the civilian body overseeing the country’s atomic program. It initially required highly enriched uranium but was later retrofitted to use low-enriched uranium over proliferation concerns.
Iranian missile strikes show Israel’s aerial defense array is not ironclad
By Julia Frankel The Associated Press
IRANIAN missiles again evaded Israel’s sophisticated aerial defense array on Thursday, striking a main hospital in the south as well as residential areas in the country’s populous center.
Israel has long relied on its multilayered missile defense system to protect communities around the country from rocket barrages from militants in Gaza or Lebanon. Since the wars in the Middle East erupted in 2023, that list has grown to include fire from rebels in Yemen and Iran.
Over the decades, Israel, with U.S. assistance, has developed a tiered system capable of detecting incoming fire and deploying only if the projectile is headed toward
a population center or sensitive military or civilian infrastructure while letting other projectiles land in open spaces. The array can shoot down short-range rockets to medium-
range missiles to attack drones to ballistic missiles like those Iran has been firing. But the military warns the system is not fool proof and while interception rates are gen -
erally high, enemy missiles can penetrate. Too many projectiles launched at once can overwhelm the system, which relies on a combination of technology and human decision-making to be effective.
Israeli authorities say at least 24 people have been killed by Iranian strikes since the fighting began on June 13, which has reduced homes, buildings and other property in multiple areas of the country to ruin.
Here’s a closer look at Israel’s air-defense system:
The Arrow THIS system developed with the US is designed to intercept longrange missiles, including the types of ballistic missiles Iran launched on Tuesday.
The Arrow, which operates outside the atmosphere, has also been used in the current war to intercept long-range missiles launched by Houthi militants in Yemen.
David’s Sling ALSO developed with the US, David’s Sling is meant to intercept medium-range missiles, such as those possessed by Hezbollah in Lebanon. It has been deployed on multiple occasions throughout the war.
Iron Dome THIS system, developed by Israel with US backing, specializes in shooting down short-range rockets. It has intercepted thousands of rockets since it was activated early last decade—including thousands of interceptions during the current war against Hamas
and Hezbollah. Israel says it has a success rate of over 90 percent.
Iron Beam ISRAEL is developing a new system to intercept incoming threats with laser technology. Israel has said this system will be a game changer because it would be much cheaper to operate than existing systems.
According to Israeli media reports, the cost of a single Iron Dome interception is about $50,000, while the other systems can run more than $2 million per missile. Iron Beam interceptions, by contrast, would cost a few dollars apiece, according to Israeli officials. The army says the technology has been tested during the past 20 months of conflict, but the system is not yet operational.
THIS satellite image provided by Maxar Technologies shows the Fordo enrichment facility in Iran on January 24, 2025. MAXAR TECHNOLOGIES VIA AP
Style
‘SuMMER LIkE You MEAn It’
GET ready to “summer like you mean it” with the new M&S summer campaign. Inviting customers to celebrate all the small things that make summer unforgettable—with style for big plans and small moments.
The new M&S campaign opens with a woman stepping off a plane, greeted by the warm, golden air of summer. A gentle breeze ripples through her hair and clothes it’s that unmistakable moment when the holiday truly begins. She’s joined by her family, with excited smiles and sun-drenched energy. Cut to a poolside scene. She spritzes herself, soaking in the smell of summer while her kids leap joyfully into the water. next, we see another woman cooling off while opening a freezer packed with ice lollies. A refreshing wave of cold air washes over her, bringing sweet relief from the heat. From sunrise to sundown, M&S has looks to make every moment memorable this summer, designed with city breaks, special occasions and sun-drenched destinations in mind—think short shorts, swimwear that makes a splash, statement separates, and easy, breezy linen.
Womenswear features crochet co-ords, perfect for layering or lounging, and flattering swimwear, designed to help you feel confident and comfortable. With breezy silhouettes, artisan textures and sunbleached color palettes, the collection will take women from day to night with ease.
Menswear, meanwhile, features jacquard print shirts that add a sophisticated touch to the season. Fun revere and abstract prints bring a tropical twist, and our Autograph swim shorts ensure the perfect fit for men’s summer adventures.
Cary Santiago presents ‘The Philippine Terno Gala 2025’
ON its sophomore year, Cary Santiago, the country’s finest couturier, promises that The Philippine Terno Gala will be even more spectacular.
The beloved biennial celebration of the terno, to be held on June 28th at the Pacific Grand Ballroom of the Waterfront Hotel and Casino in Cebu City, will be an evening celebrating fashion and culture.
“I’m incredibly grateful for the support of my Mesdames and the Cebu City Tourism Commission, led by City Councilor Joy Pesquera,” says Santiago in a Facebook post, adding: “I’m happy to announce that the Cultural Center of the Philippines is co-presenting the Philippine Terno Gala 2025! A huge thank you to CCP president Madam Kaye Tinga and the CCP directors.”
To be directed by Junjet Primor, the gala will have Santiago’s high-profile muses as sponsors: Bea Zobel de Ayala Jr., Alice Eduardo, Mariquita Yeung, Maybelle Padillo, Dawn Zulueta-Lagdameo, Yedda Romualdez, Jen Villoria, and Marylou Ngo Ang.
“I’m delighted to announce that five more amazing designers will be joining me in showcasing their stunning creations—Cebu’s Edwin Ao, Jun Escario, and Protacio Empaces, and Jojie Lloren and Joey Samson from Manila,” gushes Santiago. “And to make things even more exciting, I’m giving you a sneak peek of my collection on June 24th. Mark your calendars. Mabuhay!”
BEST OF CEBU
KNOWN for injecting wit into his creations, Empaces will once again showcase his unbridled love for embroideries: “I firmly believe that the terno has been perfected during the time of Ramon Valera, Salvacion Lim and Joe Salazar. So, I will be working around that vibe but innovated to modern-day function.”
Escario says he will present a very chill, relaxed collection: “It is elevated Filipiniana for the modern woman. It’s a very cosmopolitan version of the Filipino way of dressing. Silks paired with piña, pantsuit with a one-sided sleeve. Very luxe, chic, modern version of the baro’t saya. Tones are muted in taupe, beige, greige, blush. I also reinvented the terno sleeve into a cape.”
Ao will be treading into unknown territory: “This time I want to do something I haven’t done before, the colors that I am afraid of: white and red.
“My collection begins where most fashion ends: beneath the surface. An inspection by the layered architecture of the dermis, each look peels back the boundaries between skin and fabric, biology and design. Like an artist’s sketch dissecting flesh, the garments unfold in strata—each layer revealing tension, fragility, and strength.
“Translucent silks trace the flow of capillaries. Raw edges mimic connective tissue. Seam work mimics sutures—deliberate, visceral, human. What begins as anatomical transforms into garment interpreted in the Philippine terno. The body is not simply dressed— it is decoded.”
MANILA MASTERS
AS a mentor during TernoCon 2023, Joey Samson showcased a collection called “Ang Mga Pag-ibig ni
interpret looks with interchanging/mixing elements of the terno, barong Tagalog and the tuxedo at the same time while keeping traditional Filipino elements such as the panuelo, alampay and tapis done in a nontraditional manner,” says Samson.
At the moment, Jojie Lloren is quite busy enlisting students to his one-year comprehensive program at his fashion school, the F.A.B. Creatives, where he will teach pattern-making, terno sleeve-making and draping. He was part of TernoCon 2024 at the Museo del Galeón, SM Mall of Asia, a project that was part of the #LoveLocal campaign of Bench, and the CCP. Together with Cary and Jaggy Glarino, Lloren presented a collection titled Lullaby for My Mother—an emotional tribute to his recently departed beloved mother as well as his homage to the Motherland. GMA actress-host Maine Mendoza served as his finale muse.
What made him say yes to participate in TernoCon 2024?
“Cary. A designer I admire and respect so much. He
Aveeno launches campaign supporting skin acceptance
year,
manage their condition with the need to live a balanced lifestyle and pursue their passions.
Aveeno hosted an event featuring personalities sharing their real-life experiences.
Athlete and TV host Vince Velasco talked about how he was bullied because of eczema. Meanwhile, certified color analyst Enzo Villacorta shared how eczema shaped his self-perception.
Both personalities also shared how Aveeno’s oat-based formulations helped them maintain skin comfort.
“At Aveeno, we believe sensitive skin shouldn’t hold anyone back. Whether you’re pushing limits as an athlete, juggling family life, pursuing your passion, or chasing deadlines at work, your skin should never be a reason to stay on the sidelines,” said Ira Santos, marketing manager of Aveeno.
Dermatologist Dr. Paula Carait said sensitivity is not always visible as even a person with well-hydrated skin can feel symptoms like burning, stinging, or itching.
Oat is an important ingredient in helping restore the skin’s barrier. Managing eczema symptoms can be tricky because while a rich moisturizer will help,
CLASS show (Cinco, Michael; Libiran, Francis; Amato Couture by Furne One; Santos, Ezra; and Santiago, Cary), he also produced the first Terno Gala in 2023; and Furne One’s homecoming gala, Weddings at the Waterfront: Panaad, and Queen Philippines pageant in 2024.
“There are a lot of designers in Cebu, even if we’re just an island. So that’s why, being a Cebuano myself, all I can do is give back to the community. So that’s the reason for me [why I produce shows],” said Santiago, during our chitchat after the Panaad show last year. “And because Manila is embracing me, I also include designers from Manila. You know, it’s a cycle. When you receive, you give. It’s like a circle.”
The design community in Cebu is small. So, Santiago doesn’t want the same designers to be in the lineup every year.
“That’s why we invite designers from Manila. And most of the time with the madams in Cebu, they’re eager to attend when they know the designer. They want to attend because they’re familiar with the works of the designers,” Santiago shares.
“That’s why every year, I make sure that I invite designers that are already making either seasoned or kind of upcoming that their works have become familiar to the fashionistas of Cebu.”
sometimes it cannot address problems like itchiness, redness, roughness and irritation.
“Formulations containing scientifically supported ingredients like oat can help restore the barrier, reduce reactivity, and promote overall skin comfort,” said Carait.
For Isabel Lacson-Ruiz, senior marketing manager at Kenvue Philippines, said the she can relate with the campaign on both professional and personal levels as two of her children have atopic dermatitis.
She said “Sensitive Skin Stories” is Aveeno’s way of supporting in individuals who are challenged with sensitive skin and the need to live full lives.
Last year, Aveeno launched its Calm + Restore collection in the Philippines, with each product designed to provide soothing and nourishing benefits through scientifically-backed, natural ingredients.
“There has long been a clamor for us to release Calm + Restore in the country,” said Ira Santos, marketing manager at Aveeno. “Now, we have a complete range of products for those who have sensitive skin.”
SNEAK PEEK Sketch by Edwin Ao, creation by Jun Escario, sketch by
Pru Life UK is Employer Branding Institute’s 2025 Best Employer
Pru Life UK has once again been recognized with the esteemed Best Employer Brand award by the Employer Branding Institute, having previously won the same accolade in 2023, for exemplary leadership in talent development, innovation, and world-class employer branding.
This accolade affirms Pru Life UK’s continued commitment to fostering a purpose-led, people-centric workplace.
“Being recognized again as a Best Employer Brand is a proud testament to the culture we’ve built – one driven by purpose, anchored in well-being, and fuelled by collaboration,” said Rashelle Cejo, Senior Vice President and Chief Human Resources Officer at Pru Life UK.
Central to the company’s people strategy is PRUHouse, its hybrid-friendly corporate headquarters in Bonifacio Global City. Designed to support flexibility, inclusivity, and productivity, PRUHouse features dedicated zones for learning, focus, collaboration, and community engagement. It reflects the company’s evolving approach to the future of work.
HR Business Partner Ma. Katrina Mallari accepted the award from the Employer Branding Institute.
Pru Life UK’s hybrid work model, alongside initiatives such as structured wellness activities, and professional counselling through its Employee Assistance Programme, ensures a supportive and balanced work environment. Career development programmes via PRU Learning Academy and PRU Careers+ further empower employees to thrive and grow.
This latest recognition builds on the company’s growing list of accolades, including being named the Philippines’ Best Employer for 2025 by Statista. As of end of 2024, Pru Life UK ranked first in the country for total renewal premium income and new business annual premium equivalent, serving over two million Filipinos through its expansive network of close to 40,000 agents. Pru Life UK remains resolute in its mission to be the most trusted partner and protector – for every life and every future.
BanKo, Kathryn Bernardo continue Journey of empowering everyday Pinoys
Product & Platform Head; Edward Limjap, Brand Experience & Marketing Communications Manager; Charie Villanueva, Executive Assistant; Anne Delos Reyes, Client Acquisition & Management Head; Rod Mabiasen, Jr., President; Angie Florentino, Enterprise Services Head; and Cindy De Jesus, Compliance Head.
BPI Direct BanKo, Inc., A Savings Bank (BanKo), the microfinance arm of the Bank of the Philippine Islands (BPI), renews its partnership with awardwinning actress and youth icon Kathryn Bernardo.
The partnership marks a reaffirmation of BanKo and Kathryn’s shared commitment to promoting financial inclusion among self-employed microentrepreneurs (SEMEs), underserved communities, and even young professionals across the country.
It also reinforces BanKo’s mission to be “maaasahan, malalapitan, at mapagkakatiwalaan,” a trusted financial partner for Filipinos seeking accessible financial solutions to support their businesses, grow their savings, or access safe and convenient credit options.
“Renewing our partnership with Kathryn reflects our commitment to building trust and deepening our connection with our clients through relatable and meaningful collaborations,” said Rod Mabiasen, Jr.,
Okada
BanKo President.
“Kathryn embodies the values we stand for— maaasahan, malalapitan, at mapagkakatiwalaan. Her genuine connection with the masang Pilipino makes her an ideal ambassador as we continue championing financial empowerment and inclusion,” Mabiasen added.
Since the beginning of their collaboration, Kathryn has played an essential role in humanizing the BanKo brand. Her approachable personality and credibility have helped the bank connect with more communities nationwide, strengthening its position as a dependable financial partner for the everyday Filipino.
“Being part of BanKo’s journey has been meaningful to me because I’ve seen how their work truly makes a difference in the lives of ordinary Filipinos. I’m proud to continue supporting a brand that uplifts microentrepreneurs and helps more people gain access to financial opportunities,” shared Kathryn.
In line with its efforts to redefine banking and expand financial access, BanKo continues to introduce innovative digital solutions through its mobile app. Among its new offerings available in the app is InstaCashKo Loan, a multi-purpose loan offered to salaried workers to cover immediate financial requirements. First-time borrowers can avail up to P10,000 cash loan with flexible repayment terms of up to six months. With InstaCashKo, users can access funds quickly and conveniently, without the need to visit a BanKo branch or agent. From application to disbursement, the entire process is conducted online, offering a safe, fast, and hassle-free credit experience.
The BanKo mobile app also enables users to open a TODO savings account within minutes and enjoy a five percent annual interest rate, allowing clients to save and grow their money with ease.
As of 2024, the app has over 500,000 registered users. At the same time, BanKo continues to grow its branch network, with 387 branches and branch-lite units in 77 provinces. In the same year, BanKo released P21.7 billion new microfinance loans, growing its microfinance portfolio by 62 percent.
Looking ahead, BanKo is eager to pursue new collaborations with Kathryn that support its mission of empowering Filipinos through financial education and inclusion. Upcoming initiatives will spotlight real stories of progress and aim to deepen BanKo’s engagement with SEMEs and underserved communities.
“We’re truly excited for what’s next,” shared Mabiasen. “With Kathryn by our side, we hope to inspire more Filipinos to believe in their dreams and take that brave next step toward a better future.”
With this renewed partnership, BanKo remains steadfast in its vision of creating a financially inclusive future—one family, one community at a time.
Manila’s Beach Club Daycation
Returns with a Wellness Twist
Okada Manila again welcomes its guests back to its signature Beach Club Daycation, now reimagined with a dynamic wellness experience designed to refresh both body and mind. Running until July 19, 2025, this celebration blends leisure and self-care at the Beach Club inside Cove Manila — the city’s premier indoor beach venue.
Returning for its second run this year, the Beach Club Daycation’s Radiant Reset transforms weekends into a vibrant sanctuary for movement, music, and mindfulness.
From Friday to Sunday, guests can enjoy a curated lineup of yoga classes, line dance sessions, live acoustic performances, and mystical card readings — all in an atmosphere that balances serenity with social energy.
From Monday to Thursday, the experience shifts into classic daycation mode: relaxed, sun-drenched lounging by the pool, signature refreshments and indulgent downtime — perfect for spontaneous midweek breaks or quality bonding moments. Crafted for families, groups of friends, and individuals, as well as wellness enthusiasts –the Beach Club Daycation offers a restorative escape right in the heart of the city. This is a great place to reconnect with friends, spend time with your kids, or simply to unwind solo, it’s an elevated alternative to the usual weekend plans. Located within Cove Manila, the Beach Club provides an all-weather haven with resort-style comforts, premium amenities, and picture-perfect surroundings — ideal for capturing and sharing beautiful moments. It’s a wellness journey that’s aesthetic, energizing, and unforgettable. Beach Club Daycation’s Radiant Reset runs until July 19, 2025, exclusively at Okada Manila. Wellness activities are available on weekends (Friday to Sunday) only, rates start at P1,388 nett inclusive of 700 worth of dining credits. Cove Manila also offers a curated menu of snacks and beverages. For bookings and more information, visit https:// okadamanila.com/deals/beach-club-daycationradiant-reset or call +632 8 555 5775 or email relax@ okadamanila.com.
Groundbreaking for Calamba-Bay Bypass Road Development Project held in Bay, Laguna
Agroundbreaking ceremony for the construction of the Calamba-Bay Bypass Road Development Project, a joint venture between the Provincial Government of Laguna (PGL) and the Ecotoll Road Development Council (Ecotoll/ERDC), was held in Barangay Tagumpay in Bay, Laguna last June 11, 2025.
The ceremony was led by Laguna Governor Ramil L. Hernandez, together with 2nd District Rep. Ruth M. Hernandez, Vice Governor Atty. Karen C. Agapay, Board Member JM Carait, Provincial Administrator Atty. Dulce Rebanal, Department of Public Works and Highways (DPWH) Assistant Secretar Nerie Bueno, ERDC Chairman Dr. Reghis Romero II, Engr. Victor Songco of ERDC, Atty. Senando Santiago of Laguna Lake Development Authority (LLDA), municipal mayors, PGL department heads and employees, and Tagumpay barangay officials. The program featured an audio-visual presentation and signing of the plan by Hernandez, officials of ERDC, DPWH, and LLDA and witnessed by officials and staff of the provincial government and Brgy. Tagumpay.
The project aims to solve the worsening traffic congestion along the Old National Highway along Calamba City and the municipalities of Los Baños and Bay
and to stimulate economic growth and development on the eastern side of the province which has been relatively lacking compared to its western side.
The bypass road will serve as a vital infrastructure link, providing a more efficient transportation route and fostering economic opportunities for the whole province. Travel time from Calamba to Bay will only take approximately 20 minutes, compared to the current travel time of an hour or much longer because of heavy traffic. The project is a 15.069 km four-lane toll road from Canlubang-Cadre Road in the City of Calamba to Masapang Highway in the Municipality of Bay. The Bay inland alignment will be approximately 2.682 km in length and the offshore viaduct alignment with approximately 10.822 km in length. The entry point will start at the roundabout of the Laguna Lakeshore Road Network (LLRN) Project in Brgy. Palingon, City of Calamba. There will be an interchange entry and exit point for Los Baños.
PCPPI backs Filipino working dads with everyday energy, hydration
AS the nation honors the dedication of Filipino fathers this June, Pepsi-Cola Products Philippines, Inc. (PCPPI) underscores its support for working dads who power through demanding schedules and family responsibilities with resilience and strength.
Through its diverse range of beverages— including Sting Energy Drink, Gatorade, and Premier, among others—PCPPI helps fuel the everyday efforts of Filipino fathers across different walks of life, from early morning commutes to long hours on the job.
“Filipino working dads are some of the most hardworking individuals in our communities. Many of them put in long hours to provide for their families, often with little time to rest,” said Atty. Carina Bayon, Chief Environmental, Social, and Governance Officer of PCPPI. “Through our products, we want to offer small but meaningful support by helping them stay energized, hydrated, and refreshed as they go about their day.”
Whether it’s the fast-acting boost of
Sting, the electrolyte-replenishing power of Gatorade, or the clean hydration of Premier, PCPPI’s beverage lineup serves as a trusted companion for fathers juggling work, side hustles, and parenting duties.
PCPPI recognizes that support doesn’t always come in grand gestures. For many working dads, something as simple as a cold drink during a break can make a difference. The company’s products are widely available in sari-sari stores, convenience outlets, and supermarkets nationwide, making them accessible to working dads wherever their journey takes them.
“As a company, we are committed to serving the needs of Filipinos in their everyday lives,” Bayon added. “This month, we’re taking the opportunity to acknowledge the often unseen efforts of working dads and remind them that they’re not alone, even in the smallest, most refreshing ways.” PCPPI encourages families to take a moment this month to recognize and thank the dads who keep going, day in and day out, and maybe hand them an ice-cold bottle of their favorite drink while they’re at it.
Pru Life UK’s Vice President for Talent and Organization Development Daisy Alvior and Assistant Vice President -
BanKo renews partnership with acclaimed actress Kathryn Bernardo. Photo shows Kathryn with, from left, BanKo’s Chino Flor,
DIPLOMATIC PR AS SOFT POWER
IRECENTLY attended the two-day Asia-Pacific Communication Alliance (Apca), the Asian Network for Public Opinion Research (Anpor), and Universiti Brunei Darussalam Conference at Universiti Brunei Darussalam last May 27 and 28. The theme was “Communication and Languages in Asia-Pacific Regions: Connection, Collaboration, and Sustainability.”
What made this trip particularly interesting was my short courtesy call to the Philippine Embassy in Brunei, where I was warmly welcomed by Her Excellency Ambassador Marian Jocelyn R. Tirol-Ignacio. We engaged in an insightful discussion on the robust academic diplomacy represented by Apca-Anpro-UBD and explored the cultural linkages between Philippine and Bruneian institutions. This conversation underscored the potential for deeper collaboration and the vital role of educational exchanges and cultural initiatives in fostering mutual understanding.
Soft power in action GOING around Brunei, one is greeted by proud Filipinos in almost all tourism spots and commercial establishments, not to mention the 20 Jollibee stores ready to take you in when you feel homesick. The cultural presence of the Philippines in Brunei is vibrant and significant, with Filipino communities actively contributing to the local culture through fashion, music, and cuisine. This is soft power in action. Specifically, soft power, a term coined in the late 1980s by political scientist Joseph Nye Jr., refers to the ability to influence others through appeal and attraction rather than coercion. It involves shaping preferences through culture, political values, and foreign policy. In his book, “Diaspora Diplomacy: Philippine Migration and its Soft Power Influences (2011),” Joaquin Jay Gonzalez III speaks of the soft power of Filipinos in enhancing global cooperation and
‘OVERSTIMULATED’ PINOYS DRIVE PODCAST LISTENERSHIP FOR EMOTIONAL REFUGE MANILA, PHILIPPINES—Filipinos are turning to podcasts for emotional refuge amidst overstimulation from digital fatigue.
This is the key finding of “The Two Faces of the Overwhelmed,” a study conducted by The Pod Network, the country’s leading podcast network, in partnership with sociocultural research firm The Fourth Wall, which looked at
development particularly public diplomacy, bridging the cultural and economic gap. In the context of Philippine-Brunei relations, soft power is particularly evident due to the considerable number of Filipino immigrants. The Philippine Embassy appreciates the skills and talents of Filipinos and how they enhance tourism in the sultanate. Moreover, Filipinos exhibit soft power through their economic and cultural contributions. According to the Migrant Workers Office in Brunei, about 80 percent of the 20,000 Filipinos are employed in the private sector, including healthcare, education, construction, engineering, hospitality, food services, and domestic work, while around 20 percent work in government-related positions. Their cultural presence and economic contributions exemplify soft power in action, along with academic linkages.
During our meeting in the Philippine Embassy, where I was joined by Marie Juneau Mallari, a lecturer at JPMC College of Health Sciences Sdn Bhd (JCHS),
the consumption behavior of the podcast listenership in the Philippines.
The study, which surveyed hundreds of digital users early this year, reveals that more Filipinos are turning to podcasts as tools to cope with feeling emotionally overwhelmed or mentally saturated, a result of today’s hyperconnected digital landscape.
According to the study, there are two faces of podcast listeners: the “mindful navigators” and “content grazers.” The “mindful navigators” are categorized as those aged 25 and above, balancing work, life, and family responsibilities, who turn to podcasts for relief. Their overstimulation stems from doing too much,
and they seek podcasts for genuine relief, not mere distraction. With a stimulation score of +2.06 and a higher reliance on podcasts (53 percent identifying it as a key source of relief), “Mindful navigators” spend up to six hours daily listening to narrative, reflective, or calming shows, often during commutes, chores, or end-ofday wind-downs. Meanwhile, “content grazers” are those under 25 who are immersed in a multi-platform world, jumping between TikTok, Spotify, and YouTube. They show a lower stimulation score (-1.63) and lighter podcast reliance (47 percent), listening 1-4 hours per day, often while multitasking. Unlike ‘mindful navigators,’ their
we discussed several key points, including the educational landscape in the region, academic diplomacy, and research collaboration across the Asia-Pacific. In particular, education serves as a vital component of soft power, reinforcing relationships between nations and enhancing mutual understanding. My university, FEU, has partnered with Jerudong Park Medical Centre Sdn Bhd to establish JCHS, aiming to produce globally competent nurses and strengthen the healthcare ecosystem in Brunei. School records show that 85 percent of the JCHS students are locals, while 15 percent come from the Philippines, Indonesia, Malaysia, Bangladesh, and Nepal. This partnership of FEU and JCHS not only illustrates the role of educational institutions in cultivating soft power but also highlights the importance of academic collaboration and cultural exchange for a mutually beneficial relationship between academic organizations. When asked about Bruneian students’ perceptions of Filipino ed -
podcast use isn’t emotionally anchored but more driven by boredom or habit.
The study also reveals that while podcasts emerged as tools for calm, the emotional value they bring to consumers extends beyond just meditation apps or self-help monologues. “Mindful navigators” prefer clear, calm, conversational content, with ideal episode lengths of 30-45 minutes, especially during evening destressing periods (6:00–8:00 PM). Meanwhile, “content grazers” are drawn to humor, energy, and cultural relevance in shorter, dynamic episodes.
John Brylle Bae, Research Director at The Fourth Wall, emphasizes the implications for creators, saying, “Today’s
ucators, Dr. Rachelle Sarmiento, Dean of Nursing at JCHS and Vice President of the Association of Filipino Educators in Brunei, shared Instagram posts highlighting that these educators are viewed as caring, nurturing, accommodating, engaging, and professional. This positive reputation plays a crucial role in shaping our brand identity, enhancing our relationship with Brunei, and reinforcing the soft power shared between our two nations.
The Embassy as a site and tool for PR THE Philippine Embassy in Brunei serves not only as a repository for all things Filipino but also as a pivotal link for Filipino expatriates to communication, cultural exchange, and economic protection. The embassy’s welcoming nature and informative approach significantly enhance the Philippines’ image and foster goodwill. In this context, it plays a crucial role in relationship building, which is one of the most essential functions of PR.
digital landscape presents a generation overwhelmed by multitasking, digital noise, and attention fatigue. Hence, podcasts are increasingly becoming a reset button for silence and mindfulness. This key finding emphasizes that engagement is not just about time, but about purpose, opening new strategic ground for creators to better connect with their audience.”
Alan Fontanilla, CEO of The Pod Network Entertainment, underscores the growth and opportunities within the industry.
To illustrate this point, upon my arrival at Ninoy Aquino International Airport Terminal 1, a fellow passenger approached me, saying he had just seen me on Facebook, specifically on the Philippine Embassy’s account in Brunei. This underscores the reach of diplomatic soft power in connecting communities. It highlights embassies as powerful PR tools through cultural programs, social media engagement, and educational initiatives. By creating compelling content—such as stories from my visit and vibrant visuals of Filipinos participating in cultural events—the embassy becomes more relatable and approachable. These real-life narratives and images not only increase visibility but also strengthen emotional connections, foster cultural appreciation, and reinforce the embassy’s role in advancing diplomatic relations.
PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Rowena Capulong Reyes, PhD is the vice president for Corporate Affairs of Far Eastern University (FEU). She is an executive committee member of the Metro Manila Film Festival 2025 and heads its education committee. She was formerly the Dean of FEU Institute of Arts and Sciences and Colegio de San Juan de Letran. She is the immediate past president of the Philippine Association of Communication Educators (PACE), serving two terms.
We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.
“This study not only provides insights into the listenership behaviors of Filipinos but, more importantly, offers a roadmap for action for creators and brands. Podcasts are increasingly becoming emotional infrastructure. Therefore, creators must understand the importance of designing podcast shows for emotional need, while brands need to realize that podcast ads aren’t interruptions but opportunities to build emotional trust.”
The “Beyond the Headphones: The Portrait of a Podcast Listener as Filipino” report, released last year, indicated over 17 million weekly podcast listenership in the country, with comedy emerging as the top genre for Filipinos. You may access the full report via https://thepodnetwork. com/tpn-insider or visit https:// thepodnetwork.com/ for more information.
CONSUL Bernadette Mendoza, the author, Her Excellency Ambassador Marian Jocelyn R. Tirol-Ignacio, and Marie Juneau Mallari PHOTO COURTESY OF THE PHILIPPINE EMBASSY IN BRUNEI
AUTHOR with Her Excellency Ambassador Marian Jocelyn R. Tirol-Ignacio.
PHOTO COURTESY OF THE PHILIPPINE EMBASSY IN BRUNEI
COMMUNICATION scholars from the Philippines, Thailand, Indonesia, South Korea, Hong Kong, Singapore, China, the USA, and Brunei. PHOTO TAKEN BY UBD STUDENT-VOLUNTEER
Five-nation
By Aldrin Quinto
THE region’s top-flight volleyball competition returns to
and
road—Alas Pilipinas sets loftier goals in the competition that now features a bigger field with much more at stake.
Two-leg champion Thailand, runners-up Indonesia, the Philippines and Vietnam are joined by Cambodia in the tournament offering world ranking points and a prize pool of $55,000 (P3.15 million).
The Cambodians earned promotion by topping the 2024 SEA V. League Challenge featuring the Malaysia, Laos and Singapore national teams.
Thailand remains the top dog in the region, asserting its supremacy with a three-set victory over the Philippines in their showdown just days ago in the Asian Volleyball Confederation Men’s Nations Cup in Bahrain. That was a huge payback by the Thais after the Philippines, led by Owa Retamar, Marck Espejo, Steve Rotter and Louie Ramirez, won a thrilling five-setter in the Alas Pilipinas Invitationals several
for battle against Barrios Pacquiao 80 percent ready
OKLAHOMA CITY—Chet
Holmgren hasn’t quite been himself on offense during the NBA Finals.
The Oklahoma City Thunder’s versatile 7-foot-1 forward averaged 18 points per game on 57 percent shooting from the field in the Western Conference finals against the Minnesota Timberwolves. Those totals have dropped to 11.3 points on 35.3 percent shooting against the Indiana Pacers. In Game 6 of the finals, Holmgren scored just four points on 2-for-9 shooting as the Pacers rolled to a 108-91 win. He acknowledged afterward that he’ll need to improve in the decisive Game 7 on Sunday in Oklahoma City. “I personally, myself, could be
in the
trying to
us get
way,” he said after Game 6. Holmgren hasn’t panicked. He said a balanced approach to handling difficult games has served him well throughout his career.
“ You can’t obsess over it to the point where it has a negative effect,” he said. “But you also can’t just completely detach from it to the point where you don’t care about it.” Holmgren has made just 11.8 percent of his 3-pointers against Indiana. He said he doesn’t worry about numbers as much as he focuses on effort and mentality.
and the runner-up $12,000 (P686,000).
The bronze medalists will receive $11,000, the fourth placers $10,000 and the fifth placers $9,000. The SEA V.League is backed by Mwell, Cignal, PLDT, Rebisco, Philippine Sports Commission, Philippine Olympic Committee, City of Candon headed by Mayor Eric Singson, Senoh, Mikasa and Asics.
By Josef T. Ramos
HALL of famer boxer Manny Pacquiao had a productive week of sparring and conditioning, making him 80 percent ready for a war on July 19 in Las Vegas against reigning Mexican World Boxing Council (WBC) welterweight champion Mario Barrios. We see a lot of vintage Manny [Pacquiao] in training at the park, and we are hoping to see a lot of vintage Manny during the fight,” Manny Pacquiao’s MP Promotions President Sean Gibbons told BusinessMirror on Sunday. “He is now 80 percent ready with almost a month before their fight.”
FOCUS will be on the race for top honors in the girls’ 15-18 division as the Del Monte Junior PGT Championship unfolds on Wednesday at the Del Monte Golf Club in Bukidnon.
Zero Plete and Crista Miñoza, both homegrown talents, brace for a fierce duel with Davao’s Precious Zaragosa in what promises to be a
thrilling three-way showdown among some of the country’s most promising junior golfers.
W hile Plete and Miñoza are expected to capitalize on their local knowledge of the tight, mountain-top course, Zaragosa is looking to counter with grit, experience and hunger, having just moved up to the premier division after dominating in a younger age group last year.
Adding more depth to the title race are Cagayan de Oro’s Kenley Yu and Venice Guillermo, as well as Davao’s Santinna Patosa, all eager to make their mark in the 54-hole event kicking off the four-leg Mindanao swing of the ICTSI Junior PGT Visayas-Mindanao Series, promising fierce competition across all age groups in the next four weeks. In the boys’ 15-18 bracket, Mactan leg winner Alexis Nailga of Bukidnon seeks to ride the momentum of his Visayas triumph in Mactan, but he faces stiff opposition from a talentstacked field, led by Bacolod’s Santi Asuncion, Cebuanos Nyito and Roman Tiongko, and Davao’s Vince Naranjo, and Zamboanga’s Mhark Fernando III.
Masterplan?
Pacquiao, 46, has been working out since late May after arriving in the US at the Griffith Park and Freddie Roach’s Wild Card gym in Los Angeles, California, where fellow Filipino fighters Mark Magsayo, Eumir Felix Marcial, Jonas Sultan and Jerwin Ancajas also join him in runs.
Gibbons also believes Pacquiao still has the speed and power to overcome Barrios, who is 16 years younger.
“M anny [Pacquiao] sparred and had a great discussion with long time trainer Freddie Roach, Justin Fortune, and Buboy Fernandez. It is just like the old times,” Gibbons added. “People also come at the Wild Card gym to see him train.”
Pacquiao, who is returning with a 68-8-2 win-loss-draw record with 39 knockouts, was joined by former
welterweight world champion Shane Mosley in morning jog last week while another super middleweight ex-world champion Andre Ward also visited him at the Wild Card gym.
He sparred with American welterweight Saul Bustos (15-2-1 record with eight knockouts) before wrapping up the week training with football player Camryn Bynum of National Football League team Indianapolis Colts at the Wild Card gym.
T he 30-year-old Barrios (29-2-1 record with 18 knockouts) defends his WBC belt against Pacquiao on July 19 at the MGM Grand in Las Vegas, Nevada.
This will be Pacquiao’s return fight after four years since losing to Cuban Yordenis Ugas via unanimous decision in August 2021.
Guiao, RoS determined to overcome semis hump
RAIN OR SHINE faces another tough series in the Philippine Basketball Association Season 49 Philippine Cup playoffs as the Elasto Painters face grand slam-seeking TNT Tropang 5G.
Days after getting past No. 2 NLEX in the quarterfinals, the Elasto Painters gear up for a showdown with Manny V. Pangilinan team.
Coach Yeng Guiao steered the Elastopainters past the twice-to-beat Road Warriors to book their fourth straight semifinals appearance.
“I just reminded them to give their all, give their best every game. We ran our style of play, we ran our system, put a hundred percent effort into it, and then let us see about the results,” Guiao said after Rain or Shine beat NLEX, 10392, on Saturday in their do-or-die match at the Ninoy Aquino Stadium.
Santi Santillan delivered an allaround performance of 24 points, nine rebounds, two steals, two assists and three blocks, while Andrei Caracut had 16 points highlighted by four triples, and Jhonard Clarito made 13 points and 16 rebounds to lead the Elastopainters in the do-or-die game.
R ain or Shine, which ended No. 7 in the elimination, won 92-89 last Wednesday at the start of the
quarterfinals behind Clarito’s 21 rebounds and 20 points showing.
R ain or Shine-TNT best-of-seven series starts on Wednesday at the Mall of Asia Arena in Pasay City.
“ We will just try. TNT is a champion team that aiming for a grand slam. But we are on their way, we will fight so let us see where we go from there,” Guiao, a former NLEX head coach for six years, added. “They are a big company with big resources, but we will compete.”
Guiao, who returned to Rain or Shine in 2022 after coaching NLEX, said there was nothing personal in facing his old team.
“No satisfaction in beating NLEX. We just wanted to go to the semifinals. Their time will come and its near, they are a young team,” he said.
The No. 6 Tropang 5G overcame No. 3 Magnolia’s twice-to-beat advantage in the quarterfinals—winning 89-88 on Wednesday and completing the upset with a 90-89 victory on Saturday.
Top seed San Miguel Beer and No. 4 Barangay Ginebra collide in the other semifinal. Game One is set at 7 pm.
“I do everything I can—good or bad, win or loss—I do everything I can to be better and improve after each game,” he said. “That doesn’t guarantee anything, but that’s kind of just the process that I’ve always had.”
Carlisle said. Bouncing back from a few bad games is nothing compared with recovering from a foot injury that cost him his entire first season in 2022-23 and a pelvic injury that cost him 50 games this season. “I wouldn’t say I enjoyed the injuries, but other than that, I’ve pretty much enjoyed the whole ride,” Holmgren said.
“It’s a beautiful thing, the easy parts, the hard parts, good parts, the bad parts, it’s all part of it. I would say I enjoy it all.” After all that, he’s one win from an NBA title in his second season of action. He is thankful to be in this position given how his season started. He’s trying not to overthink the situation heading into Game 7. AP
San Miguel Beer had a quick entry to the semifinals after beating Meralco, 108-97, and same with Ginebra when it beat Converge, 88-80, in Friday’s quarterfinals. Josef T. Ramos CHET HOLGREN is one win from an NBA title in his second season of action. AP
Now that he kept his promise to bring a title to Cleveland, now he needed to go somewhere to solidify everything and so he can win more titles and lay claim to the title of GOAT.
To do this, there are two massive media markets to accomplish this…New York and Los Angeles. You can even throw Boston into the mix. The organizations have the legacy, the money, and the most influential sportswriters who will sing your high praises, defend you, and even back you up as GOAT.
In L A, you have Bill Plaschke, Ramona Shelburne, Bill Dwyre, Bryant Gumbel, and Bill Simmons to name but a few.
And it looked like it would work as the Lakers won a title. But they didn’t. they traded for Luka Doncic mid-season in hopes it would translate into a quick fix and turnaround. But they didn’t win. It didn’t help that LeBron turned to flopping, brought in his son Bronny to the Lakers, declared himself GOAT (after leading Cleveland to a title).
Now with his age, he knows he doesn’t have much time left. He’s now flipped the narrative about this “ring culture” and wonders if this is right to judge a player.
I call BS on this because that has always been the case not just in sports, but in every aspect of society and life— those with more awards, plaudits, hits etc. are rarefied air. Furthermore, he contributed to this by saying they could win even up to seven titles in Miami.
Second, in his book, Shooting Stars, that recounts his high school days, he said that the dream was to win state and then a national title. At that point of his young life, that was the dream. Until he kept moving up the pyramid.
I have been following James since
COACH Yeng Guiao looks to steer the Elasto Painters to their first finals appearance since 2019.
MANNY PACQUIAO trains with Indianapolis Colts safety Camryn Bynum. PHOTO COURTESY OF JHAY OTAMIAS