ings Corp. (“Hotel101” or “HBNB”), an asset-light, prop-tech hospitality platform business designed for rapid global growth, announced that it has received approval to list on the Nasdaq Stock Exchange, and its shares are set to begin trading on July 1.
Hotel101 celebrated its United States public listing by ringing the opening bell.
Trading is scheduled to commence under the ticker symbol “HBNB” following the expected completion of Hotel101’s business combination with JVSPAC Acquisition Corp. (Nasdaq: JVSA), which was approved by JVSPAC shareholders on June 24. With a deemed equity value at clos-
THEIcon Awards held on Friday, June 27, 2025, at Okada Manila.
ing of $2.3 billion, Hotel101 is the first Filipino-owned company to be listed and traded on the Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD).
The ceremony can be viewed at https://www.nasdaq.com/marketsite/bell-ringing-ceremony and on the Nasdaq MarketSite Tower in Times Square.
“Today is an exciting milestone in Hotel101’s journey to become the world’s first truly global one-room hotel chain. Hotel101 was born from a simple, revolutionary idea: a ‘one room’ global hotel brand delivering consistent comfort and irresistible value worldwide. Our asset-light, technology-driven platform positions us to scale rapidly, with a goal
to disrupt the hospitality industry globally with 1 million rooms across 100 countries,” said Hannah YuloLuccini, CEO of Hotel101.
“This is a historic moment for DoubleDragon, becoming the first-ever Filipino company with a subsidiary listed and traded on the Nasdaq. It reflects the strength of our vision and the dedication of everyone who has helped bring Hotel101 to this global stage. And we’re just getting started—with a globally scalable model and a long runway ahead, we aim to redefine the industry and become a leading global hospitality brand working towards our vision of an inventory of 1 million Hotel101 rooms globally,” said Edgar “Injap” Sia II, chairman and CEO of DoubleDragon Corpora-
tion and Founder of Hotel101, said:
Accelerating global expansion HOTEL101’S management believes that Hotel101 properties are efficient to build, maintain, and operate--as well as scale and expand through direct development, joint venture partnerships, and franchise arrangements. Building on the success of Hotel101branded properties in the Philippines—where there are two operating properties and a number under development—Hotel101 intends to accelerate its global expansion plans. Hotel101-Madrid, a 680-room development adjacent to the new Formula 1 (“F1”) Spanish Grand Prix Circuit in Valdebebas, is slated for
By Reine Juvierre S. Alberto @reine_alberto
THE Department of Finance (DOF) significantly slashed the privatization target to P5 billion this year due to difficulties encountered by the government in selling state assets.
On the sidelines of the Development Budget Coordination Committee (DBCC) last Thursday, Finance
Assistant Secretary Karlo F. Adriano told reporters that the DOF adjusted the privatization target for this year.
“It’s not easy to sell governmentowned properties, and there are also legal issues,” Adriano said.
The DOF initially planned to raise P101.02 billion this year from
privatizing government assets to fund priority programs.
However, because of the delays in disposing of government assets, the privatization target for the year was reduced to just P5 billion from P101.02 billion.
The P96-billion reduction was reallocated to the non-tax revenue target, which has been raised to P306.8 billion from the initial P210.8 billion.
Adriano said the P101-billion target will still be pursued, but for 2026 instead.
“We expect those to materialize next year,” he said.
This is more likely to be achieved since the inter-agency Privatization Council (PrC) revised the 24-year-
old Guidelines on the Privatization and Disposition of Assets, which took effect last March 11. This will institutionalize and harmonize the policies and processes to ensure that public assets are put to productive use by the private sector.
Privatization and Partnerships
Group (PPG) Undersecretary Catherine L. Fong said there are over 28,000 titles, mostly small assets measuring about 200 square meters, up for sale to the public.
Major government assets include the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant in Laguna, Food Terminal Inc. in Taguig City and Mile Long Complex in Makati City.
‘PHL consumers mood sours on inflation, income decline’
By Cai U. Ordinario
FILIPINOS became even more pessimistic in the second quarter with the overall confidence index (CI) posting a steeper decline during the period, according to the data released by the Bangko Sentral ng Pilipinas (BSP).
The BSP’s Consumer Expectations Survey (CES) fell to -14 percent in the second quarter, steeper than the -13 percent posted in the first quarter. However, it is still more optimistic compared to the -20.5 recorded in the same period last year.
The central bank said weaker confidence among consumers in the second quarter of 2025 was mainly due to concerns surrounding higher inflation, lower household income, and fewer available jobs.
“Concerns about the delivery of government services and programs amid the elevated political tensions also weighed on consumer confidence,” the BSP also stated in its CES report.
The BSP also said that compared to its top trading partners, the low confidence of consumers in the country were similar to countries like Taiwan and Thailand.
“In contrast, sentiment in South Korea turned optimistic, while in Indonesia, it was more optimistic. Meanwhile, consumer confidence also improved in Australia, the euro area, and Japan, where consumers were less pessimistic,” the BSP said.
Meanwhile, the consumer outlook in the third quarter turned optimistic as the CI became positive from -0.5 percent in the Q1 survey to 0.6 percent in Q2
This optimism, the BSP said, was attributed to higher household income, more available jobs and working family members and stable prices of goods and services.
For the next 12 months, Filipino consumers’ out-
look was still optimistic but was lower at 11.8 percent in the second quarter survey compared to the first quarter.
The BSP said this was due to expectations of higher household income, more available jobs, and stable prices of goods and services in a period of 12 months.
Meanwhile, across overall economic condition, family financial situation, and family income, the survey results showed the CI declined for both the country’s economic condition and the family’s financial situation, while there was minimal change for family income.
In terms of the family income index, BSP said it remained positive since the first quarter of 2025, reflecting a sustained improvement in household cash inflows during the first half of the year.
“For Q3 2025, the CI regarding the country’s economic condition improved, while it was little changed for the family’s financial situation and family income. For the next 12 months, the CI was little changed for the country’s economic condition and the family’s financial situation, while it declined for family income,” the BSP added.
Meanwhile, Filipino consumers were less upbeat when it comes to their spending intentions in the third quarter compared to the first quarter this year.
The BSP said CI for spending declined to 37.8 percent in the second quarter from 40.1 percent in the first quarter survey.
The spending outlook was less upbeat for food, nonalcoholic and alcoholic beverages, and tobacco, clothing and footwear as well as house rent and furnishing; water supply; electricity; gas and other fuels; transportation, and restaurants and accommodation services.
However, the survey results showed there was a more upbeat outlook for health; education, rec-
reation and culture; and personal care and miscellaneous goods and services.
Big-ticket purchases
IN terms of big-ticket items, Filipinos were less pessimistic based on the second quarter survey results. The data showed the CI eased slightly to -65.5 percent in the second quarter from -68.4 percent in the first quarter.
The data showed the buying intentions for bigticket items over the next 12 months was less pessimistic, as the CI turned less negative at -67 percent in the second quarter compared to the -68.7 percent in the first quarter survey.
“Buying intentions for consumer durables and house and/or lot became less pessimistic, but remained pessimistic for motor vehicles,” BSP said.
Those who intend to purchase real property in the next 12 months increased to 6.1 percent in the second quarter from 5.7 percent in the first quarter.
The data showed, a higher percentage of households plan to acquire single detached houses, duplexes, townhouses, agricultural lots, and commercial lots.
The BSP said the results coincided with the data on borrowing which turned more pessimistic for the next quarter and the 12 months period. The data showed the borrowing intention index declined to -76 percent for the third quarter and -70.4 percent over the next 12 months.
This data on borrowing, the central bank noted, was largely unchanged compared to previous surveys for the third quarter 2025 but improved when it comes to securing loans over the next 12 months.
In terms of savings, the saving intention index improved to -16.1 percent in the second quarter from -18.6 percent in the first quarter survey.
Among households that plan to save, the BSP said
the share of those who would set aside at least 10 percent of their monthly gross family income for savings declined to 26.4 percent in the second quarter from 29 percent in the first quarter survey. Those who would save less than 10 percent, however, increased to 73.6 percent in second quarter from 71 percent in the first quarter survey.
“Consumers anticipate that interest rates may increase and the peso may depreciate against the US dollar in mid-2025 and over the next 12 months. Households also expect the unemployment rate to rise during the same period,” the BSP said.
The CES, a quarterly survey of a random sample of about 5,000 households in the Philippines, covers three component indices of the consumer outlook—overall economic condition, family financial situation, and family income.
Results of the CES provide advance indication of consumer sentiments for the current and next quarters and the next 12 months, as reflected in the overall CI, as well as in the selected economic indicators. The Q2 2025 CES was conducted last April 2 to 15.
completion in December 2025. Earlier this month, Hotel101 signed a 10-year agreement with an affiliate of MATCH Hospitality AG, making it an official hotel partner of the F1 Spanish Grand Prix from 2026 to 2035.
In May 2025, Hotel101 signed an agreement with Saudi Arabia’s Horizon Group to, subject to additional contract, establish a joint venture for the development of up to 10 hotels in Saudi Arabia. The partnership underscores Hotel101’s confidence in the Kingdom’s dynamic tourism market, one of the fastest-growing globally under Vision 2030.
Construction is underway for Hotel101-Niseko, a 482-room property in Hokkaido, Japan. The company has also secured a site in Los Angeles, California, marking its entry into the US market. In parallel, Hotel101 is actively pursuing five additional joint ventures, further advancing its goal of establishing a presence in 25 priority markets in the medium term.
Unique business model
HOTEL101’S management believes that Hotel101’s global “one room” hotel chain model is poised to disrupt the hospitality industry by offering identical, standardized hotel rooms globally. In standardization, Hotel101 sees a global opportunity in the hospitality space that brings enhanced efficiency, especially for the value segment, enabling customers to know exactly what to expect whenever they stay at a Hotel101 property.
With identical hotel units, Hotel101 streamlines development, operations, and guest experiences. Hotel101’s proprietary app, which has over 1 million registered users, serves as a centralized platform for reservations, guest services, and loyalty programs. It adopts dynamic pricing for room rates and offers self-check in, made efficient by the availability of just one type of room. Hotel101 expects to set a new standard for efficiency, predictability, and scalability, creating sustained value for customers globally.
Hotel101’s asset-light “condotel” prop-tech business model is designed to scale efficiently while maximizing value for both unit owners and guests. Hotel101 generates revenue twice: first, from the pre-selling of individual hotel units during the construction phase; and second, from long-term recurring revenue derived from day-to-day hotel operations following completion of the units. By pre-selling standardized hotel units, Hotel101 generates upfront capital to fund new developments and expand
idly. Its
ble and
BSP data showed the current-quarter confidence index (CI) fell to 28.8 percent in the second quarter survey round from 31.2 percent in the first quarter. It was also lower than the 32.1 percent posted in the same period last year.
The BSP noted that business confidence for the next quarter and the next 12 months slowed with CIs at 39.3 percent and 51 percent, respectively. It also noted that both figures were lower from their quarter-ago and year-ago levels.
“Firms attributed their less optimistic sentiment in Q2 [second quarter] 2025 to several concerns. Chief among these was the potential economic effects of a 17-percent reciprocal tariff on Philippine exports to the US,” the Business Expectations Survey (BES) report stated.
“Although the higher tariff rate has been paused for 90 days and reverted to 10 percent, businesses still view this as a sign of rising global trade uncertainty,” it added.
The decline in optimism also reflected concerns regarding the slowdown in manufacturing. The BSP cited the latest Purchasing Managers’ Index (PMI) which indicated the manufacturing sector was “broadly stagnating.”
The BSP stated that the post-Midterm Election slowdown will moderate business activities in the country leading to a decline in clients and orders during the period and that the off-milling season for sugar would contribute to the slowdown in business activities.
Meanwhile, the data showed the decline in business confidence was not only recorded in the Philippines but in the country’s major trading partners.
“Firms in China, Thailand, and Vietnam turned pessimistic, while those in Taiwan and the United States was more pessimistic. In contrast, firms in Australia, euro area, and Hong Kong were less pessimistic. The business outlook in South Korea remained pessimistic,” the report stated.
The outlook for the third quarter, the BSP said, was less optimistic because of negative effects from global trade tensions and the anticipation that seasonal demand will slow down during the rainy season.
In the next 12 months, business confidence slowed due to expiring contracts and softer market conditions as a reason for their more cautious yearahead economic outlook.
Jobs outlook
GIVEN the less optimistic outlook on business activities, the BSP report stat-
ed that the employment outlook index declined for the third quarter and the next 12 months.
The BSP said the index settled at 15.4 percent for the third quarter down from 16.5 percent in the first quarter while the outlook for the next 12 months slowed to 26.9 percent from the 29.6 percent in the first quarter survey.
“This lower reading suggests that firms may still hire additional workers during these periods, but at a more modest pace compared with the Q1 [first quarter] 2025 survey round,” the BSP said.
“This trend is in contrast to the results of the April 2025 Labor Force Survey [LFS] of the PSA [Philippine Statistics Authority], which indicated a slight increase in the employment rate compared with January 2025,” the report added.
Further, the data showed, the percentage of businesses in the industry sector with expansion plans for the third quarter of 2025 and the next 12 months decreased.
The figure for the third quarter fell to 15.9 percent and the next 12 months slowed to 20.9 percent in the second quarter from 19.4 percent and 22.4 percent in the first quarter 2025 survey, respectively.
“Respondents identified several major business risks. These included stiff domestic competition [59.8 percent of respondents], insufficient demand [33.5 percent], and high interest rates [22.8 percent],” the report stated.
“The percentage of firms citing high interest rates as a major constraint declined from its Q1 [first quarter] 2023 peak. With the BSP’s cumulative 100-basis-point rate cut gradually taking effect, this downward trend is expected to continue as businesses benefit from easing borrowing costs,” it added.
In June, the Monetary Board of the BSP decided to implement its second 25-basis-point (bps) rate cut for the year. (See: https://businessmirror. com.ph/2025/06/20/bsp-cuts-ratesanew-by-25-bps-1-more-seen/).
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.
The BES is a quarterly survey of firms drawn at random from the list of Top 7,000 Corporations ranked based on total assets in 2017 from the Bureau van Dijk database.
Results of the BES provide advance indication of the direction of the change in overall business activity in the economy and in the various measures of companies’ operations as well as in selected economic indicators. The first quarter 2025 BES was conducted during the period 4 April to 19 May 2025.
The Asia’s Golden Icon Awards honors outstanding individuals and organizations for their significant impact, achievements, and contributions to society. This year’s distinction affirms Cabangon’s steadfast leadership in steering the ALC Group of Companies—a diversified conglomerate with ventures in media, insurance, pre-need services, banking and finance, pawnshops, car dealerships, hospitality, real estate, and memorial care, among others.
Representing D. Edgard A. Cabangon at the ceremony were his children, Antonio Carlos G. Cabangon and Dannica Nicole A. Cabangon, who delivered heartfelt remarks on his behalf, expressing pride and admiration.
Antonio Carlos expressed his family’s gratitude to the Chairman, Board of Directors, management, and staff of Asia’s Golden Icon Awards for organizing the event and for honoring their father with such meaningful recognition.
He went on to reflect on what the award symbolizes for their family: “We would like to take a moment to
celebrate our father, as this award recognizes all of his hard work in leading the ALC Group of Companies.” Dannica Nicole followed with a touching message of her own: “To our dad, this award of Impact in Business Leadership is a reflection of the strength and hard work you’ve poured into everything you do—all while carrying forward the legacy of your father, our grandpa, Amb. Antonio L. Cabangon Chua, the founder of the ALC Group of Companies. We are so proud of you!” In a brief message, D. Edgard A. Cabangon expressed his appreciation for the honor. “This recognition is not mine alone. It is shared with all those who have been part of our journey through the years. I thank my family, our employees, and our partners. None of our achievements would have been possible without all of you,” he said. “And of course, to Dad, our founder—this is for you. Maraming salamat po!” he added.
D. Edgard A. Cabangon carries forward the legacy of his father, the late Ambassador Cabangon Chua. Under his leadership, the ALC Group has expanded its presence across diverse industries while remaining firmly rooted in the founding vision and core values passed down by his father.
Still unclear if detained Duterte can take oath as mayor of Davao
By Manuel T. Cayon @awimailbox
DAVAO CITY–It is still unclear if former President Rodrigo Duterte who is now detained in the Netherlands on crimes against humanity charges, would be able to take his oath of office as mayor of this city by June 30, his daughter, Vice President Sara Duterte said on late Friday.
The Vice President, who is facing an impeachment case, said she has not discussed this with her father and said his taking oath of office is now a matter between him and his lawyers.
Vice President Duterte attended the oath-taking of the elected politician in this city, led by Rep. Isidro Ungab, who is on his final term as congressman, to the former President’s youngest son, Sebastian, who who was elected vice mayor and the 24 councilors.
If ever her father would be unable to take his oath of office, “then we will have
a situation in Davao City with an acting mayor,” Sara said.
Meanwhile, Sara said Australia was not mentioned in the places that the former President would likely be hosted in an event that the International Criminal Court granted the Duterte camp’s petition for an interim release from detention.
“As I have disclosed in my previous statements, that there were only two countries identified for his interim release, and Australia was not one of them,” the vice president said.
She made the clarification after learning that the Australian Department of Foreign Relations and Trade announced that the former Philippine president will not be hosted by Australia in the event he were granted interim release by the ICC.
She said there were no other feelers from any other governments which might indicate willingness to host the former President in a case he were granted interim release.
Bulacan anti-drugs operations net P700-M shabu, 2 suspects
THE National Police (PNP)-Drug Enforcement Agency (Pdea) on Sunday announced that its operatives have arrested two high-value individuals and confiscated some P700 million worth of methamphetamine hydrochloride or shabu during operations in Bulacan late last week.
Brig. Gen. Edwin Quilates, Pdeg director, in a statement, identified the arrested suspects as alias “Ry,” 40 and “Loan,” 55.
One
FThe HVIs, according to Quilates, were arrested on Bantique Street, barangay Bulihan, Plaridel, Bulacan on Saturday. Pdeg operatives seized some 103 kilograms of suspected shabu with an estimated street value of P700,400,000 and other non-drug evidence.
Quilates said the suspects were brought to the Pdeg headquarters for documentation
See “Shabu,” A4
Meralco
‘Senate cannot drop impeach case through simple majority’
IBy Jovee Marie N. dela Cruz @joveemarie
NCOMING lawmakers on Sunday asserted that under the Constitution, the senatorjudges cannot dismiss the impeachment complaint against Vice President Sara Duterte through a simple majority vote, nor should they themselves initiate such a motion.
Incoming Akbayan Rep. Chel Diokno said there is no provision in the 1987 Constitution that allows a simple majority vote to dismiss an impeachment complaint.
Diokno, in a radio interview, emphasized that senator-judges are bound by their oath to assess evidence impartially and only render judgment after a full trial.
“They are prohibited from making premature moves to convict or acquit. Their role is to listen to the evidence and decide only once all the evidence has been presented,” Diokno added.
Earlier, Senate President Francis Escudero claimed that the Senate, acting as an impeachment court, may vote to dismiss the complaint. Escudero previously said the Senate, being a collegial body, can act based on two-thirds votes.
Also, incoming Sen. Panfilo Lacson
refuted that senator-judges can file a motion to dismiss.
“As judges, we are not allowed to move for dismissal. That motion should come from the defense, not from us,” Lacson said in a separate interview. “It’s not just wrong—it’s improper, inappropriate, and even laughable for a judge to file a motion to dismiss a case they’re supposed to adjudicate.”
Earlier, Sen. Ronald dela Rosa, who, like Lacson once headed the National Police, filed a motion to dismiss the impeachment case against Vice President Sara Duterte.
Proceed to trial
ON Friday last week, the House panel prosecuting Duterte urged the Senate to proceed with her impeachment trial, declaring that her Answer Ad Cautelam was “rife with falsehoods, misleading claims, and baseless legal arguments.”
“The Filipino people have a fundamental right to witness this process unfold. No bloodbath is necessary. Let the trial begin,” the prosecutors said in their official reply, filed Friday and signed by House Minority Leader and Lead Prosecutor Marcelino C. Libanan.
The prosecution warned that the seriousness of the charges—ranging
from alleged assassination plots and fund misappropriation to corruption—leaves no room for technical maneuvers aimed at avoiding accountability.
Filed Friday before the Senate sitting as an Impeachment Court, the reply from the House prosecution team directly confronted each of Duterte’s arguments, describing her legal tactics as a transparent attempt to delay or dismiss the proceedings rather than answer the charges.
These Articles of Impeachment highlight respondent Duterte’s unfitness for public office,” the prosecutors wrote, emphasizing that she should be tried and held accountable before the Filipino people.
Duterte’s claim that the Senate lacks jurisdiction due to an alleged failure to transmit Articles of Impeachment was invalid. The prosecution noted that Duterte herself acknowledged receiving the articles and filed a response, contradicting her own argument.
Duterte’s reliance on Senate Resolution 1013 to argue that no formal presentation occurred was rejected, as the resolution was never adopted and carries no legal weight.
Her citation of the Supreme Court decision in Balag v Senate was deemed misleading. Prosecutors pointed out that
the ruling actually affirmed the Senate’s status as a continuing body with nonlegislative powers like impeachment. On the issue of the one-year bar rule, prosecutors said the only valid complaint was filed on February 5, 2025, by at least one-third of House members, satisfying constitutional requirements. Her claim of denial of due process was rejected, with prosecutors stating that under Rule IV, a verified complaint by onethird of the House immediately constitutes the Articles of Impeachment and requires no further committee hearing.
On Duterte’s objection to the use of her public interviews and livestreamed statements as evidence, the prosecution noted the irony that she used the same platforms to defend herself, calling her position “selective and self-serving.” They emphasized that the Constitution does not allow the impeachment court to entertain a motion to dismiss once the articles have been transmitted. In their concluding prayer, House prosecutors asked the Senate to convict Duterte, remove her from office, and impose the penalty of perpetual disqualification from holding any public position in the Republic of the Philippines.
Construction of Samal-Davao bridge going on at fast clip
TBy Lorenz S. Marasigan @lorenzmarasigan
HE Department of Public Works and Highways (DPWH) said over the weekend that the construction of the Samal Island–Davao City Connector (SIDC) Bridge is moving at a faster-than-expected pace, with its completion rate more than
Foundation
double the original target.
Public Works Senior Undersecretary Emil K. Sadain reported that the accomplishment rate of the project is now at 38 percent, marking a 22-percent positive slippage for the toll-free, four-lane bridge that aims to enhance mobility and economic activity at the Davao Region.
Originally, he said the agency targeted to
reach at least a 16-percent accomplishment rate at end-June.
All bored piles on the Samal side of the land viaduct have been completed, while 73 of 110 bored piles on the Davao side—equivalent to 66.36 percent—have been finished.
The navigation bridge’s bored piling is also complete on both ends. Meanwhile, seal concrete installation is ongoing on the Davao side’s navigation section, with works already finalized on the Samal end. Progress has also been recorded in the marine viaduct
See “Bridge,” A4
energizes 4 schools in Mauban, Quezon
Bright classrooms greet students for the new school year
OUR public schools in Mauban, Quezon welcomed the new school year with solar energy that enhances the learning experience of students and teachers after One Meralco Foundation, the corporate social responsibility arm of Manuel V. Pangilinan-led Manila Electric Company (Meralco) brought its School Electrification Program (SEP) to the coastal municipality.
Over 450 students and more than 20 teachers and staff from Cagsiay III Elementary School, Cagsiay III National High School, Cagsiay III Elementary School-Annex, and Rosario Elementary School—are benefiting from an alternative energy source: solar photovoltaic (PV) systems. These off-grid schools were energized through the collaborative effort of Meralco, One Meralco Foundation (OMF), the Department of Energy (DOE) and the Department of Education (DepEd).
Seeing their classrooms powered up with electricity brings relief to teachers and students. Janine Galvan, the teacher-in-charge of Cagsiay III National High School, said they can now use laptops, projectors, and other tools with ease for audio-visual presentations and multimedia materials to make classes more interactive and engaging for students, some of whom had to ride a boat or walk for more than one hour from their homes to the school. With electrification and internet connection, students can also technology for their studies, while teachers improve on learning delivery. These pave the way for greater digital literacy, a fundamental and crucial skill for the students’ future success.
"Sa pagkakaroon ng kuryente, mas maeexpose na ang mga bata sa digital tools, mas magiging interaktibo at masaya ang kanilang pagkatuto, at higit sa lahat, magkakaroon sila ng mas matibay na kumpiyansa sa sarili. Kung dati ay limitado lang sa blackboard at papel ang kanilang karanasan, ngayon ay pwede na silang matutong gumamit ng computer, manood ng educational videos, at makilahok sa mga online learning platforms," Galvan said.
Access to power will also encourage students to stay in school and reduce transfer rates, as parents and students look for better learning opportunities outside their community, according to Sherwin Calzo, who teaches at Rosario Elementary School.
Teachers also benefit from the project. They can now readily prepare lessons, manage instructional materials, process grades, and access online professional development op -
portunities to enhance their skills and invest in their professional development without traveling far for it. More than the immediate benefits to the students and teachers, the school's electrification paves the way for students to aspire for a future beyond what they currently see in their communities. For Galvan, exposure to the wider world beyond their coastal community where they are expected to become farmers, fisherfolks, or laborers like their parents. Aligned with President Ferdinand Marcos Jr.'s
and
and OMF Trustee Engr. Ronnie L. Aperocho emphasized this, stating, "Meralco is dedicated to making power access a top priority, even in rural
areas in the Meralco franchise area. Energizing schools is a fundamental investment for the future of the nation, and by bringing the benefits of solar power to classrooms, we empower the next generation in building a brighter country for all."
Solar technology harnessed in rural schools powers more than just the school facilities–it illuminates communities, OMF President Jeffrey O. Tarayao said. "School electrification ignites hope and progress within the community. By enhancing the very spaces where our students learn how to thrive, we empower them to achieve their aspirations for themselves and their families and eventually, their communities. This investment enables progress and development that bring broader benefits for many Filipinos," Tarayao said.
A Brighter Start for Mindanaoan students
As part of its school electrification program, eight public schools in Sarangani, Sultan Kudarat, and South Cotabato received multimedia equipments.
The eight school beneficiaries that were energized by One Meralco Foundation in 2023 are; Gnanda B. Maguan IP School, Sitio Lanao Integrated School, and Akbual IP School in Sarangani, as well as Datu Manggong Elementary School, Blanga Elementary School, Elem Elementary School in Sultan Kudarat and Kboyong Elementary School and Datal Ligaw Elementary School in South Cotabato. These elevisions and printers
Monday, June 30, 2025
Live-streamed budget bicam meetings for ’26 natl budget
By Jovee Marie N. dela Cruz @joveemarie
THE 20th Congress will open the proceedings of the bicameral conference committee to the public in response to the need to institutionalize transparency in the national budget process, the speaker said.
The move, Speaker Ferdinand Martin G. Romualdez said, will be a key component of broader budget reforms he intends to champion as the 20th Congress opens on July 28.
“Transparency and accountability must be the cornerstones of the budget process,” said Romualdez over the weekend. “I support the move to make bicameral conference committee discussions open to the public. This is a crucial step in restoring public trust and ensuring that the national budget truly reflects the will and welfare of the people.”
The growing #OpenBicam campaign, backed by reform
advocates, calls for full disclosure of deliberations during the bicameral conference committee—the final and often decisive stage where the House and Senate reconcile their respective versions of the General Appropriations bill.
Historically conducted behind closed doors, these meetings are now being urged to shift toward greater openness through livestreaming or direct media access.
Romualdez said that livestreaming the bicam proceedings would allow real-time public access and scrutiny, empowering citizens and stakeholders to monitor how public funds are allocated.
“We owe it to every Filipino to ensure that the budget is crafted with integrity, discipline, and full disclosure,” Romualdez said.
He added that the 19th Congress laid critical groundwork in advancing budget transparency, having passed key accountability measures.
“We passed key accountability
measures. Now we must build on that momentum by opening the most sensitive and final stages of the legislative process to the Filipino people,” he said.
He committed to working closely with lawmakers in both chambers to institutionalize the initiative and encouraged civil society groups, academic institutions, media, and citizens to actively participate.
“We invite every citizen to witness how their budget is being crafted—live and unfiltered. This is your money. This is your future. And now, this is your Congress,” Romualdez said.
For his part, House Minority Leader Marcelino Libanan welcomed the Speaker’s endorsement of public access to bicameral budget meetings, describing it as “a bold step forward for transparency and democratic accountability.”
“Allowing the public to witness the bicam discussions upholds the principle that citizens have a right to know how their money is being
allocated,” he said.
He emphasized that public scrutiny is essential to ensuring that budget decisions respond to the needs of ordinary Filipinos, rather than being shaped by political convenience or closed-door negotiations.
“The national budget is the clearest expression of our priorities,” Libanan said. “It must be debated and finalized not behind closed doors, but in full view of the people whose lives will be most affected by it.”
Libanan added that opening the bicameral proceedings would promote fiscal discipline, discourage last-minute insertions and undue influence, and ultimately enhance public trust in the legislative process.
“If we are to demand integrity and responsibility in government spending, it must begin with greater openness in the process,” he added. “Transparency is not just good governance—it is a moral obligation.”
Pagcor warns vs illegal offshore gaming websites
By Reine Juvierre S. Alberto
T@reine_alberto
HE Philippine Amusement and Gaming Corporation (Pagcor) has warned the public against several illegal offshore gaming websites that claim to be licensed by the gaming regulator.
In a statement on Sunday, Pagcor said 11 fraudulent offshore gaming websites are using the Pagcor logo and displaying fake license certificates. These websites include efesbetcasino514.com; OG7777 online
gaming (og7777.org); Mpo500. com; QQ88.com; mpo2121.com; Lgolive.com; napolibet.com; KRATOSBET LTD (kratosbet.com); mpossport.com; https://efsanebahis434.com, Pagcor said. Meanwhile, Pagcor identified the illegal website https:// cazeus2.com/en/responsiblegaming operating from the United Kingdom.
“These platforms are not authorized to operate under any Pagcor-issued license,” Pagcor Chairman and Chief Executive Officer Alejandro H. Tengco said. “We want to make it very clear
that the use of Pagcor’s name and logo by these sites is a blatant disrespect to the agency and poses a threat to the public.”
“All Philippine Offshore Gaming Operations [Pogos] in the country have been banned, effective December 31, 2024, and previous Pogo licensees and service providers that continue to operate are illegal,” Tengco emphasized.
“Any entity claiming to operate under a Pagcor license for offshore gaming is clearly violating the law and should be reported immediately,” Tengco said.
The public is advised to visit Pagcor’s official website at www. pagcor.ph to verify licensed gaming operators and be informed about legitimate gaming activities.
“We urge everyone to remain vigilant and to always verify the legitimacy of any gaming site before engaging in it,” Tengco said.
Last month, Pagcor also sounded the alarm over fraudulent gaming certifications linked to Lucky 7 Bingo Corporation, allegedly luring individuals into bogus offshore betting agreements.
New training program to create 20K jobs–ILO
ANEW South Korean government-funded training program is expected to help generate up to 20,000 new jobs in the Philippines’ construction sector by next year, the International Labor Organization (ILO) announced.
ILO Country Director Khalid Hassan said the Philippines was chosen as one of the pilot countries for the initiative owing to its massive infrastructure pipeline and growing demand for skilled construction workers.
“We believe that the Philippines is investing a lot in construction.
We see that a lot of construction or infrastructure development programs are going on in our country…That means a lot of jobs will be created. But we are feel that skills are needed for it and this project will build that skills,” Hassan told reporters in a sideline interview
during the launching of the Advancing Digital and Green Skills for Youth in Asean (Association of Southeast Asian Nations) project in a hotel in Manila.
The year-long initiative, jointly implemented in the Philippines and Thailand, will provide industry-led training and apprenticeships focused on green and digital construction skills.
The program is backed by the South Korean government through a US$1.2 million funding commitment.
Construction skills
HASSAN said trainees will learn a full range of construction-related skills—from design and building to implementation— while ensuring they can adapt to ongoing digitalization and green transition in the sector.
In the Philippines, the Techni -
cal Education and Skills Development Authority (Tesda) and the Public Employment Service Office (Peso) will handle the registration and onboarding of interested individuals.
Hassan emphasized that as construction continues to play a major role in driving the Philippine economy, it is critical that workers are equipped with the tools to keep up with modern techniques.
“Now we need to develop our workers because now a lot of tools are there, a lot of equipment are coming in, a lot of new methods are coming in. And this project will use all these things together. Bring those knowledge to the country,” he added.
The Philippine Statistics Authority (PSA) reported that as of March 2025, 4.56 million Filipinos are employed in construction.
Last year, the sector ranked fourth among the main contributors to the country’s gross domestic product (GDP) growth, with a 10.3
percent share of annual expansion.
More youth needed
WHILE construction remains one of the country’s fastest-growing sectors, Hassan noted that fewer young Filipinos are showing interest in entering the industry—even as demand rises.
The ILO official said young workers often perceive construction work as physically difficult, leading them to look for opportunities elsewhere.
“But they are very interesting and very innovative…This project will attempt to create the interest of the young people to make this as a career and to work on this part,” Hassan said.
The ILO is optimistic that by incorporating digital and green elements into the training, more Filipino youth will consider careers in construction—not just as laborers, but as skilled workers ready to take on the future of the industry. Justine Xyrah Garcia
DOTr slaps 90-day suspension on over-charging Angkas rider
By Lorenz S. Marasigan @lorenzmarasigan
THE Department of Transportation (DOTr) has suspended for 90 days the license of the Angkas rider who charged a passenger P2,000 for a trip from Ninoy Aquino International Airport (Naia) Terminal 3 to Cainta, Rizal, triggering public outrage over the weekend.
The DOTr, through its Motorcycle Taxi Technical Working Group (MC Taxi TWG), issued a Show Cause Order directing Angkas and the rider of motorcycle plate number 80ZTZT to explain within five days why they should not be removed from the government’s motorcycle taxi pilot study for overcharging.
A hearing is set for July 3 at the LTFRB Legal Division in Quezon City.
In addition, the MC Taxi TWG also ordered the preventive suspension of the rider for 30 days from the Angkas platform, pending the outcome of the investigation. Angkas was further instructed to provide proof of suspension and submit the
onboarding records of the rider in question. When sought for comment, Angkas Chief Executive Officer George Royeca said the company is currently investigating the incident.
“If confirmed, this is a clear violation of our policies and will result in the rider being permanently banned from the platform,” he said in a text message. “Angkas has a strict zero-tolerance policy against overcharging and off-app arrangements. These actions compromise passenger trust and safety, and we are committed to address such cases decisively.”
Separately, the Land Transportation Office (LTO) confirmed it had suspended the license of the involved rider for 90 days. The order, based on an initial investigation, said the Angkas rider faces charges punishable under section 27 of the Land Transportation and Traffic Code or Republic Act 4136. The LTO also summoned the registered owner of the motorcycle to explain their liability, and to determine if the owner was also the one driving during the incident.
Housing plans include food, livelihood systems–NHA
By Bless Aubrey Ogerio
WHILE contructing houses remains a cornerstone of nationbuilding, true community development goes beyond concrete walls, a National Housing Authority (NHA) official said.
NHA Assistant General Manager Alvin Feliciano said that public housing should be complemented by stable food production and income-generating activities.
“Providing housing is essential, but genuine community progress goes beyond shelter,” Feliciano said in Filipino at the launching of the first Kadiwa ng Pangulo market inside the NHA Livelihood Training Facility in Valenzuela City.
“We must also incorporate sustainable food systems, livelihood opportunities and the aspect of economic stability,” he added.
The event marked a collaboration between the NHA and the Department of Agriculture (DA) to expand the Kadiwa ng Pangulo initiative, which is a flagship food security program that provides affordable agricultural goods to Filipino families while
supporting local farmers. The pilot KNP rollout in Valenzuela drew close to a thousand residents, many of whom lined up to purchase essential food items at reduced prices.
Vulnerable groups, including persons with disabilities, solo parents and senior citizens, were able to buy rice priced at P20 per kilogram, while other consumers had access to rice priced at P35 and above. Also available were locally sourced vegetables and fruits, spices, meat, processed products and native delicacies. The KNP program, now being integrated into NHA resettlement sites, is among the agency’s key initiatives. With support from the DA, the NHA plans to bring more KNP events to housing communities across the country shortly.
The effort reflects a broader push to meet the country’s commitment to Sustainable Development Goal (SDG) 2: Zero Hunger. Yet, despite ongoing improvements, hunger and malnutrition remain pressing issues in many Filipino communities, particularly among children, women and rural families.
World Bank economist topbills UST’s second mixed methods conference
AWORLD BANK economist will share the role of doing both quantitative surveys and qualitative interviews in determining solutions to development problems at a research event in Manila next month.
Economist Vijayendra Rao will be among the four key resource persons in Halo-Halo 2: The Filipino Mixed Methods Fair scheduled in-person on July 10 and 11 at the Royal and Pontifical University of Santo Tomas (UST).
Rao is a lead economist of the World Bank’s Development Research Group at its headquarters in Washington DC. He had done mixed methods studies on social funds for community development, gender violence in rural areas, and democratic dialogues in rural communities.
Mixed methods is the research approach of doing both quantitative and qualitative research methods to yield broader understandings of phenomena being studied.
Rao is one of two economists who will speak at Halo-Halo 2, the other being Edward Cartwright of De Montfort University in the United Kingdom.
Two former presidents of the Mixed Methods International Research
Association (MMIRA)—Cheryl Poth of the University of Alberta in Canada, and Judith Schoonenboom of the University of Vienna in Austria—will also provide insights on certain aspects of mixed methods research. The second edition of Halo-Halo: The Filipino Mixed Methods Fair builds on the achievements of the inaugural edition held on May 21-22, 2024 at the UST. This year’s edition seeks to promote the use of mixed methods by showcasing its strengths as a research method in addressing various problems of the society from psychology to economics. The fair is being organized by UST’s Research Center for Social Sciences and Education (RCSSED).
Participants from the different regions of the Philippines can avail of affordable registration fees to participate in Halo-Halo. Interested participants are also invited to submit research e-posters on recently finished and ongoing mixed methods projects for the event’s interactive sessions. Interested participants can call UST’s RCSSED at rcssed@ust.edu.ph and halohalo. mixedmethods@gmail.com, through 0287313535, and by searching the Facebook page “Halo-Halo: The Filipino Mixed Methods Fair.”
Ramp construction on the Davao side continues to advance, with 60 of 133 piles now in place, marking a 45.11-percent accomplishment. Pile cap installations are also well underway, with 11 of 26 completed on the Davao side and 5 of 16 finished on the Samal side. Complementary works such as fencing and the clearing of structures along Daang Maharlika have been completed. Davao Light and Power Co. has finished installing its distribution lines and is now awaiting energization. Meanwhile, the agency has also secured 61 out of 69 affected lots in Davao City and Samal Island and acquired 22 out of 51 affected structures in Davao. Spanning 4.76 kilometers, the toll-free, four-lane SIDC bridge will link Davao City at the R. Castillo–Daang Maharlika Junction to the Samal Circumferential Road. Once completed, the SIDC Bridge will feature a 275-meter main span and a vertical clearance of 47 meters to accommodate ships, with its marine crossing section spanning 1.62 kilometers and supported by twin pylons rising 73 meters above sea level. It is expected to reduce travel time between the mainland and Samal Island, a popular tourist destination, while boosting commerce and mobility in the Davao Region. The SIDC Bridge is funded through Official Development Assistance from the Chinese government.
Lasting Lessons from Father
Three captains of industries share the best life and leadership advice from their first mentors—their dads
Before they sat at the helm of corporations, closed multimillion-peso deals, or reshaped industries, many of the Philippines’ most respected business leaders first learned to lead at home—guided by the steady hands, quiet strength, and enduring values of their fathers.
As we conclude the month dedicated to fatherhood, BusinessMirrorpays tribute to the man who first taught them lessons about life and business. We asked three of the country’s visionary leaders: What is the most important advice your father gave you?
Their answers—rooted in resilience, humility, service, and heart—remind us that leadership isn’t built in boardrooms alone. It’s shaped around dinner tables, in quiet conversations, in lessons passed down by example. And as we move through the second half of the year, these reflections are also compass points that will inspire us to move forward with purpose.
Even if it’s a father who taught the value of separating family from business, one who embodied service without saying much, or one who showed that love for family means showing up every single day—these shared anecdotes show us that the lasting lessons often begin at home.
A Father’s
Lance Gokongwei
—John Eiron Francisco
President of JG Summit Holdings on his father John Gokongwei, Jr.
“I remember that no matter how busy he was with work, my dad, John Gokongwei, Jr. would always make it a point to join us for dinner. Over home-cooked meals, we would exchange stories on how our respective days went.
“I learned a lot about running a business from the stories my father told us over dinner. He had so many adventures. We picked up valuable lessons from both his successes and his failures. There were many of both. Fortunately, more of the first than the second.
“My dad imparted invaluable lessons to us not just through words, but through his actions. These values he demonstrated continue to guide me to this day.
“Among the key lessons that I learned from him is resilience—to never be daunted by the odds. To me this a powerful reminder to stay courageous and determined, even when facing tough challenges.
“Another important lesson from my Dad is that the business is separate from the family. The business is not there to serve the family but rather the family is there to serve the business.
“He instilled in us that, as stewards of the business, we have a responsibility to make sure that our business continues to succeed because our employees and their families depend on us for their livelihoods.
“This is why our family works very hard to ensure the continued success of our business so that we can help make life better not just for our employees but for our customers, communities, business partners, and the Filipino nation as a whole.”
Manny Villar Jr.
Businessman
and Philantropist on his father
Manuel Montalban Villar, Sr.
“My father, Manuel Montalban Villar, Sr., was orphaned early in life. So at a very young age and as the eldest of nine siblings he was already acting as the “padre de pamilya”. And he was the only one who was able to finish school. I think this was the reason why he would always tell me that family is the most important thing in life, and that as a father, 'You always take care of your family.' He would tell me that even when he married he continued helping out his brothers and sisters.
“My father, who was born in Iloilo, provided for our family, and he loved my mother. He would tell me this cute little story of how he met my mother. He was tasked by Japanese authorities to get food for their soldiers and officers. Performing his task, he stopped three women and asked that they give the fish to him. My mother urged him to let fellow Filipinos enjoy the fish instead of taking it. My father said that he was so smitten by my mother agreed to her request and let them go.
“For me, this was the most important lesson—you do everything for your family because your family would do everything for you.”
“Some of my best memories with my dad were those that revolved around nature and the great outdoors, bookstores and music. These were among his great loves that shaped my own life passions as well. I’m never too busy to lose myself in any of those and always feel recharged enough to face difficult challenges ahead. I always remember him for those experiences he loved too.
“Despite his love for reading and writing he was paradoxically a man of few words. I don’t recall him ever preaching or laying down life advice for me to follow. But he lived to embody Benjamin Disraeli’s wise words: 'The legacy of heroes is the memory of a great name and the inheritance of a great example'. His actions left a more lasting impression on us, his family, than anything he could ever have said.”
—interviews by VG Cabuag
Day reminder from science: Your kids aren’t really growing up quickly
BY KEITH PAYNE
Professor of Psychology and Neuroscience, University of North Carolina at Chapel Hill
I am one of those men for whom it is impossible to find Father’s Day gifts. I don’t wear ties. My socks are all the same, in the interest of efficiency. I enjoy cooking, which would seem to open up some possibilities. But I have an annoying habit of buying useful gadgets as I need them, leaving my relatives to purchase paper bags specially designed for storing cheese, say, or devices that carve vegetables into the shape of noodles. With sympathy for my family, the truth is that my favorite Father’s Day gift this year has been the gift of time. Or more precisely, a new understanding of how my perception of time is warped by the brain. I am a social psychologist who studies how people’s minds shape their subjective experiences. And there are
few experiences more subjective than the experience of time.
A childhood whooshing by
Surely every parent has suffered the same pains I am feeling as my daughter turns 9.
In her first year, the sleepless nights were eternities passed under the glowing blue rectangles of an LCD clock. The days stretched out too, as I wished for the time when she could be entertained on her own by a toy or a cartoon, for even a few minutes. It felt like climbing uphill in anticipation of that time when we could coast.
Now, as she stretches from the roundness of a baby toward the long gazelle lines of a pre-teen, I feel that we have somehow accelerated too fast. Somewhere, we crested the top, but there was no coasting, only a whooshing that I can’t slow down.
Is this feeling of time whistling past inevitable? Scientists have uncovered startling insights about how the brain registers the passage of time. Understanding them won’t make that whooshing feeling go away, exactly, but it can make it less painful.
The passage of time
This feeling of time speeding up or slowing down happens in a lot of areas of life.
We generally feel that our moments become more fleeting as we get older. Remember how long summer vacation seemed as a kid? And, ironically, as we get older larger chunks of time like decades seem to fly faster than smaller chunks like days or minutes.
Unpublished research by Heidi Vuletich in my lab finds that scarce resources make the future feel further away, which helps explain why poor children make more impatient decisions than middle-class kids. Time also seems to slow down during an emotionally intense event, whether it’s a car crash or a sleepless night.
Does time really go into slow motion during a car crash? Does it really speed up as we age? What these phenomena have in common is that they are all experienced retrospectively or prospectively, not in real time. There is no way to re-experience the car crash without
traveling through the doorway of memory. So when we experience time speeding up or slowing down, is that happening in real time?
Or is it a memory illusion?
Neuroscientist David Eagleman and his colleagues ran an ingenious experiment to find out. They used a sky-diving tower at an amusement park in Dallas. Subjects ascended in an elevator to the top of a 100-foot tower and then let themselves free fall into a net at the bottom.
Strapped to their wrists was a chronometer – a device for measuring time perception. It was a screen on which numbers flickered back and forth very quickly – so quickly that it’s difficult to identify the numbers. The point of the chronometer is that if time really slows down for the brain when falling, then a person in free fall should be able to accurately perceive more flickering numbers per second, relative to when they’re safe on the ground.
So what happened? When asked afterward to estimate how long they were falling, subjects overestimated the time they were in the air by more than a third. In their memories, time had indeed slowed down. But, according to the numbers participants reported seeing on the chronometer, time passed at the same ordinary rate as it did before the free fall.
This is why even though we seem to experience a car crash in slow motion, the extra time does not allow us any extra ability to steer out of the way. That’s because the slow motion is in our memories, not in the moment. Think of what this means for our experiences of time slowing down and speeding up: That whooshing feeling is not in our present, but only in our memories of it.
The present is now
So are we doomed to feel that our children’s youth is speeding away?
It is likely to feel that way whenever we reminisce about the past. The more important lesson, though, is not about the past but the present. Now that I’m free
falling toward her adolescence, it’s important to understand that time is not really whistling away from me. Each moment lasts the same as it did when she was a baby. Each moment holds as much joy and as much pain now as it will tomorrow.
And so, this insight is a call to let the remembered past and the fretted future go and to return attention relentlessly to the present. Someday I will look back, my head swimming, and remember today like those long, lazy summer days. But right now, a moment is just a moment. Right now she still loves to lay beside me and hear me read to her. Right now I am the big one and the strong one who can scoop her up in one arm when she needs it. Right now, I am not “my dad,” I am daddy. What more could a father want?
This article is republished from The Conversation under a Creative Commons license. Read the original article: https://theconversation. com/a-fathers-day-reminderfrom-science-your-kidsarent-really-growingup-quickly-98346.
Federico “Piki” Lopez Chairman and CEO of First Philippine Holdings (FPH) on his father Oscar M. Lopez
Federico “Piki” Lopez. Photo sourced from the First Philippine Holdings Corporation (FPH) Official Website
Lance Gokongwei. Photo sourced from the Lance Gokongwei Official Facebook Page
Manny Villar Jr. Photo sourced from the Manny Villar Official Facebook Page
FIRST MENTOR. A father plays an important role in shaping the values and life skills of his child. Photo by Ante Hamersmit/Unsplashed.
Photo by Dmitry Molchanov | Dreamstime.com
Photo by Charles Brutlag | Dreamstime.com
Israeli strikes kill 72 people in Gaza as ceasefire prospects move closer
By Wafaa Shurafa & Sam Mednick The Associated Press
DEIR AL-BALAH, Gaza Strip—Israeli strikes killed at least 72 people across Gaza overnight and into Saturday, health workers said, as ceasefire prospects were said to be improving after 21 months of war.
Three children and their parents were killed in an Israeli strike on a tent camp in Muwasi near the southern city of Khan Younis. They were struck while sleeping, relatives said.
“What did these children do to them? What is their fault?” said the children’s grandmother, Suad Abu Teima, as others knelt to kiss their bloodied faces and wept. Some placed red flowers into the body bags.
Also among the dead were 12 people near the Palestine Stadium in Gaza City, which was sheltering displaced people, and eight more in apartments, according to staff at Shifa Hospital. More than 20 bodies were taken to Nasser Hospital, according to health officials.
A midday strike killed 11 people on a street in eastern Gaza City, and their bodies were taken to Al-Ahli Hospital.
Another strike on a gathering in eastern Gaza City killed eight including five children, the hospital said. A strike on a gathering at the entrance to the Bureij refugee camp in central Gaza killed two, according to Al-Awda Hospital.
Hopes for a ceasefire agreement in the coming week
US President Donald Trump says there could be a ceasefire agreement within the next week. Taking questions from reporters on Friday, he said, “We’re working on Gaza and trying to get it taken care of.”
An official with knowledge of the situation told The Associated Press that Israeli Minister for Strategic Affairs Ron
Dermer will arrive in Washington next week for talks on a Gaza ceasefire, Iran and other subjects. The official spoke on condition of anonymity because they were not authorized to speak to the media.
Indirect talks between Israel and Hamas have been on again, off again since Israel broke the latest ceasefire in March, continuing its military campaign in Gaza and furthering the territory’s dire humanitarian crisis. Some 50 hostages remain in Gaza, fewer than half believed to still be alive. They were among 251 hostages taken when Hamas attacked Israel on Oct. 7, 2023, sparking the war.
“What more is left to do in Gaza that has not already been done? Who else is left to eliminate?” Yotam Cohen, brother of hostage Nimrod Cohen, said Saturday evening as weekly rallies by families and supporters resumed following Israel’s ceasefire with Iran.
Over 6,000 killed since latest ceasefire ended THE war has killed over 56,000 Palestinians, according to the Health Ministry, which does not distinguish between civilians and combatants. It says more than half of the dead were women and children. It said the dead include 6,089 killed since the end of the latest ceasefire.
Israel says it only targets militants and blames civilian deaths on Hamas, accusing the militants of hiding among civilians because they operate in populated areas.
There is hope among families of hostages that Trump’s involvement in securing the recent ceasefire between Israel and Iran might lead to more pressure for a deal in Gaza. Israeli Prime Minister Benjamin Netanyahu is riding a wave of public support for the Iran war and its achievements, and he could feel he has more space to move toward ending the war in Gaza, something his far-right governing partners oppose.
Hamas has repeatedly said it is prepared to free all the hostages in exchange for an end to the war in Gaza. Netanyahu says he will end the war only once Hamas is disarmed and exiled, something the group has rejected.
Hundreds have been killed while seeking food
MEANWHILE, hungry Palestinians are enduring a catastrophic situation in Gaza. After blocking all food for 2 1/2 months, Israel has allowed only a trickle of supplies into the territory since mid-May.
More than 500 Palestinians have been killed and hundreds more wounded while seeking food since the newly formed Gaza Humanitarian Founda -
tion began distributing aid in the territory about a month ago, according to Gaza’s Health Ministry. Palestinian witnesses say Israeli troops have opened fire at crowds on roads heading toward the sites. The Israeli military says it has only fired warning shots and that it was investigating incidents in which civilians had been harmed while approaching the sites. Thousands of Palestinians walk for hours to reach the sites, moving through Israeli military zones.
Separate efforts by the United Nations to distribute limited food have been plagued by armed gangs looting trucks and by crowds of desperate people offloading supplies from convoys. Saturday’s death toll included two people killed by Israeli gunfire while waiting to receive aid near the Netzarim corridor, a road that separates northern and southern Gaza, according to Al-Shifa and Al-Awda hospitals, which each received one body. There was no immediate Israeli military comment.
Mednick reported from Tel Aviv, Israel. Associated Press journalist Sally Abou AlJoud in Beirut contributed to this report.
Hundreds of thousands mourn top Iranian military commanders and scientists killed in Israeli strikes
By David Rising The Associated Press
DUBAI, United Arab Emirates—Hundreds of thousands of mourners lined the streets of downtown Tehran on Saturday for the funeral of the head of the Revolutionary Guard and other top commanders and nuclear scientists killed during a 12-day war with Israel.
The caskets of Guard chief Gen. Hossein Salami, the head of the Guard’s ballistic missile program, Gen. Amir Ali Hajizadeh and others were driven on trucks along the capital’s Azadi Street as people in the crowds chanted: “Death to America” and “Death to Israel.” Salami and Hajizadeh were both killed on the first day of the war, June 13, as Israel launched a war it said was meant to destroy Iran’s nuclear program, specifically targeting military commanders, scientists and nuclear facilities.
State media reported more than 1 million people turned out for the funeral procession, which was impossible to independently confirm, but the dense crowd packed the main Tehran thoroughfare along the entire 4.5-kilometer (nearly 3 mile) route.
There was no immediate sign of Iran’s Supreme Leader, Ayatollah Ali Khamenei, in the state broadcast of the funeral. Khamenei, who has not made a public appearance since before the outbreak of the war, has in past funerals held prayers for fallen commanders over their caskets before the open ceremonies, later aired on state television.
Top officials are among the mourners
IRANIAN Foreign Minister Abbas Araghchi was on hand, and state television reported that Gen. Esmail Qaani, who heads the foreign wing of the Revolutionary Guard, the Quds Force, and Gen.
Ali Shamkhani were also among the mourners. Shamkhani, an adviser to Khamenei who was wounded in the first round of Israel’s attack and hospitalized, was shown in a civilian suit leaning on a cane in an image distributed on state television’s Telegram channel. Later, on Saturday night, state TV showed Shamkhani saying he and other generals knew they would be targets before Israel initiated the war earlier this month. The morning of the strike on his residence, he said he woke up for dawn prayer when suddenly everything around him had become ruins. He initially thought that an earthquake had taken place, and it took search and rescue teams at least three hours to find him in the rubble.
Shamkhani said most of his injuries were internal, including a chest fracture. Iran’s Revolutionary Guard was created after its 1979 Islamic Revolution. Since it was established, it has evolved from a paramilitary, domestic security force to a transnational force that has come to the aid of Tehran’s allies in the Middle East, from Syria and Lebanon to Iraq. It operates in parallel to the country’s existing armed forces and controls Iran’s arsenal of ballistic missiles, which it has used to attack Israel twice during the Israel-Hamas war in the Gaza Strip. Over 12 days before a ceasefire was declared on Tuesday, Israel claimed it killed around 30 Iranian commanders and 11 nu -
clear scientists, while hitting eight nuclearrelated facilities and more than 720 military infrastructure sites. More than 1,000 people were killed, including at least 417 civilians, according to the Washington-based Human Rights Activists group. Iran fired more than 550 ballistic missiles at Israel, most of which were intercepted, but those that got through caused damage in many areas and killed 28 people. Saturday’s ceremonies were the first public funerals for top commanders since the ceasefire, and Iranian state
MOURNERS gather in Islamic Revolution Square (Enghelab Square) to attend the funeral ceremony of the Iranian army generals, nuclear scientists and their family members who were killed in Israeli strikes, during a funeral ceremony in Tehran, Iran, Saturday, June 28, 2025. AP PHOTO/VAHID SALEMI
Powell and Lagarde count cost of Trump’s turbulence
By Craig Stirling
THE global economy’s concussion from five months of Donald Trump’s presidency is likely to feature when five of the world’s leading central bank chiefs discuss monetary policy in public on Tuesday.
From tariff-related trade ructions to oil-price gyrations caused by Middle East hostilities, the question of how to handle the fallout from White House decisions may loom large as Federal Reserve chief Jerome Powell speaks on a panel with peers from the euro zone, Japan, South Korea and the UK.
The high-powered gathering at the European Central Bank’s annual retreat in Portugal will be the first time that its president, Christine Lagarde, has shared a stage for a public discussion with her US counterpart since the same event in 2024.
Back then, when they spoke alongside former Brazilian central bank chief Roberto Campos Neto, their discourse morphed into something resembling a group therapy session on the trials of setting interest rates at times of political stress—a premonition, in its own way, of the turbulence to come.
One year on, and at the halfway point of 2025, global policy is almost paralyzed by the need to navigate risks posed both to inflation and growth in the wake of Trump’s actions. That’s a trade-off faced by all the central bank chiefs speaking on the panel in the hilltop resort of Sintra.
Powell insisted on Tuesday that the Fed is in no rush to change rates, and earlier this month the Bank of England left borrowing costs on hold too.
“Quickening core inflation and slowing spending will keep the Fed uneasy, fueling debate about the appropriate number of rate cuts this year,” said Stuart Paul, Bloomberg’s US and Canada economist.
The ECB itself, having just delivered a reduction, isn’t ready to do any more for now, and the Bank of Japan is widely expected to keep its benchmark
1.2M
Iunaltered at its July 31 meeting. The Bank of Korea is insisting on acting cautiously too.
In a podcast before this week’s retreat, ECB Chief Economist Philip Lane emphasized the panel as the highlight of the whole gathering, whose theme of “Adapting to Change” seems something of an understatement.
“You do need to step back—rather than just talk about ‘what are we going to do in July or September?’—to look at the underlying forces,” he said, before predicting that the central bank chiefs will deliver “a very lively session.”
Elsewhere, US jobs, Chinese business surveys and euro-zone inflation numbers will be among the highlights.
US and Canada
FOLLOWING fresh figures on Friday that showed American consumers are becoming somewhat fatigued, the US jobs report for June will offer clues about the strength of the labor market. Economists forecast employers added 113,000 jobs during the month, the fewest in four months yet still consistent with healthy labor demand. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday. It’s also forecast to show the unemployment rate crept up to 4.3 percent. For a Federal Reserve awaiting more clarity on the potential inflationary impact from tariffs, any pronounced deterioration in the labor market would likely lead to more pressure on officials to lower interest rates.
So far, there have been only scattered signs of cracks in the job market, including the highest number of recurring claims for jobless benefits
since late 2021. A Labor Department report on Tuesday is expected to show little change in May job openings from a month earlier.
Canadian goods trade data for May will probably show a continued sharp decline in US exports, with shipments to other countries rising but not offsetting the loss of access to the American market. The first payments of Canada’s digital services tax are due Monday, hitting major US tech firms with a 3 percent levy on their revenue from Canadian users above C$20 million.
Trump cited the tax as the reason for the US ending trade talks with Canada on Friday.
Asia THE week in Asia features a slew of PMI reports that will shed light on how regional economies are coping with elevated US tariffs.
China gets a pair of PMI releases, with the official gauge Monday expected to show that manufacturing activity remained contractionary for a third straight month in June as persistent deflation on top of trade tensions weighed on activity.
The next day sees the release of PMI figures for South Korea, Malaysia, the Philippines, Indonesia, Thailand, Vietnam, Taiwan and China’s Caixin gauge.
The BOJ’s Tankan survey, also on Tuesday, is forecast to show that large companies plan to boost capital investment by 10 percent this fiscal year.
Business sentiment among large
manufacturers is expected to stay relatively upbeat, albeit at a lower level, while the gauge for non-manufacturers is seen staying close to the 34-year high set in the previous period.
May trade reports are due during the week from Australia, Indonesia, Thailand and Sri Lanka, while South Korea reports those figures for June.
South Korea also publishes consumer price statistics for June that may keep the Bank of Korea on track for another rate cut. Indonesia June CPI is also due.
Industrial output figures from South Korea, India and Japan, and Japanese household spending data will bookend the week.
Europe, Middle East, Africa
INFLATION numbers will draw attention in the euro zone. Data on Monday may show consumer-price growth picked up in Germany and Italy, though not enough to worry the ECB. For the region as a whole, economists anticipate an outcome of 2 percent the following day, exactly at the goal targeted by policymakers.
Other than price reports, clues on how the region’s manufacturing sector is faring amid Trump’s tariff squeeze will also emerge. German factory orders, along with French and Spanish industrial production, will be published on Friday.
Aside from its Sintra seminars, the ECB itself will offer plenty of other news. The results of its strategy review are due on Monday, followed by the institution’s own measure of
inflation expectations the next day.
On Thursday, an account of its June policy meeting will be released, revealing more on the decision to cut rates.
Beyond Sintra, ECB officials will be out in force at another economic gathering later in the week in Aix-enProvence, in southern France.
On Monday, the Swiss National Bank will reveal how much foreignexchange intervention it carried out during the first quarter. Switzerland’s latest inflation numbers are scheduled for Thursday and may also draw interest from traders focused on the franc. Economists anticipate that consumer prices fell from a year earlier for a second month in June.
In the UK, a full breakdown of gross domestic product for the first quarter will be published on Monday. Appearances by BOE Governor Andrew Bailey in Sintra and Aix-en-Provence will also be highlights.
Away from Europe, South Africa’s Bureau for Economic Research will release its second-quarter inflation expectations survey on Wednesday.
The report will be closely monitored by the central bank, which uses the two-year-ahead measure to inform its decisions. The bank aims to anchor expectations at the 4.5 percent midpoint of its target range, but is currently in discussions with the National Treasury to revise it lower.
In Turkey on Thursday, annual inflation is forecast to slow slightly to 35.2 percent in June from 35.4 percent the prior month. That may persuade the central bank to low -
er its main policy rate by at least 300 basis points to 43 percent. It’s a quieter week than usual for monetary decisions, but some are still on the diary: In Ethiopia, policymakers will likely leave their rate unchanged at 15 percent on Monday as inflationary pressures begin to build because of subsidy reforms.
On Wednesday, the Polish central bank is likely to borrowing costs on hold, followed by Governor Adam Glapinski speaking at a news conference the next day.
Latin America
ARGENTINA will publish activity data for April on Monday, with the result in focus after first-quarter growth data showed that the economy expanded significantly slower than expected early in 2025. Chile will follow with economic activity data for May on Tuesday, a reading that will follow weekend primary elections for center-left candidates hoping to succeed President Gabriel Boric in a race for the country’s top job later this year. The data also comes after Chile’s central bank kept its rate unchanged in mid-June, with policymakers saying that while domestic activity has exceeded expectations, they remain vigilant about an unpredictable global economy. The monetary authority will publish the minutes to that decision on Thursday, with analysts looking for clearer signals about when policymakers may start cutting rates after signaling that more monetary easing is coming. Later that day, Colombia’s central bank will publish minutes to its decision to hold rates steady on Friday. The Andean nation has been roiled in recent weeks by the government’s decision to suspend its fiscal rule, a move that along with a worsening debt burden led both S&P Global Ratings and Moody’s Ratings to downgrade the nation’s credit last week.
With assistance from Vince Golle, Mark Evans, Laura Dhillon Kane, Travis Waldron, Monique Vanek, Brian Fowler, Beril Akman, Mark Schroers and Andrew Langley / Bloomberg
Afghans forced to return from Iran and Pakistan, says UN
SLAMABAD—At least 1.2 million Afghans have been forced to return from Iran and Pakistan this year, the UN refugee agency said Saturday, warning that repatriations on a massive scale have the potential to destabilize the fragile situation in Afghanistan. Iran and Pakistan in 2023 launched separate campaigns to expel foreigners they said were living in the country illegally. They set deadlines and threatened them with deportation if they didn’t leave. The two governments deny targeting Afghans, who have fled their homeland to escape war, poverty or Taliban rule.
The U.N. high commissioner for refugees said that of the 1.2 million returning Afghans, more than half had come from Iran following a March 20 government deadline for them to leave voluntarily or face expulsion.
Iran has deported more than 366,000 Afghans this year, including refugees and people in refugee-like situations, accord -
ing to the agency.
Iran’s 12-day war with Israel also has driven departures. The highest number of returns was on June 26, when 36,100 Afghans crossed the border in one day.
“Afghan families are being uprooted once again, arriving with scant belongings, exhausted, hungry, scared about what awaits them in a country many of them have never even set foot in,” said Arafat Jamal, the UNHCR representative in the Afghan capital, Kabul.
He said women and girls are particularly worried, as they fear the restrictions on freedom of movement and basic rights such as education and employment.
More than half Afghanistan relies on humanitarian assistance. But opposition to Taliban policies and widespread funding cuts are worsening the situation, with aid agencies and nongovernmental organizations cutting back on basic services like education and health care.
Iran urges foreigners to leave quickly
IRAN’S attorney general, Mohammad Movahedi Azad, said Saturday that foreigners in the country illegally should leave as soon as possible or face prosecution, state media reported.
“Foreign nationals, especially brothers and sisters from Afghanistan whom we have hosted for years, help us (so) that illegal individuals leave Iran in the shortest period,” the official IRNA news agency quoted Azad as saying.
Iranian authorities said in April that out of more than 6 million Afghans, up to 2.5 million were in the country illegally.
Iran’s top diplomat in Kabul, Ali Reza Bikdeli, visited the Dogharoun border crossing with Afghanistan and promised to facilitate the repatriation of Afghans, state TV reported.
Iranians have complained about the increasing presence of Afghans in recent months, with some accusing them of spying for Israel since the outbreak of the war.
The Taliban pledge amnesty and help
EARLIER this month, on the religious festival of Eid Al-Adha, the Taliban prime minister said all Afghans who fled the country after the collapse of the former Westernbacked government were free to return, promising they would be safe.
“Afghans who have left the country should return to their homeland,” Mohammad Hassan Akhund said in a message on X.
“Nobody will harm them. Come back to your ancestral land and live in an atmosphere of peace.” On Saturday, a high-ranking ministerial delegation traveled to western Herat province to meet some of the Afghans returning from Iran. The officials pledged “swift action to address the urgent needs of the returnees and ensure that essential services and support are provided to ease their reintegration,” according to a statement from the Taliban deputy spokesman Hamdullah Fitrat on X.
Associated Press writer Nasser Karimi in Tehran, Iran contributed to this report.
JEROME POWELL BLOOMBERG PHOTO
Senate Republicans advance Trump’s tax and spending cuts bill after dramatic vote
By Lisa Mascaro, Kevin Freking & Joey Cappelletti
The Associated Press
ASHINGTON—Senate
WRepublicans voting in a dramatic late Saturday session narrowly cleared a key procedural step as they race to advance President Donald Trump’s package of tax breaks, spending cuts and bolstered deportation funds by his July Fourth deadline.
The tally, 51-49, came after a tumultuous night with Vice President JD Vance at the Capitol to break a potential tie. Tense scenes played out in the chamber as voting came to a standstill, dragging for more than three hours as holdout senators huddled for negotiations, and took private meetings off the floor. In the end, two Republicans opposed the motion to proceed, joining all Democrats.
There’s still a long weekend of work to come.
Republicans are using their majorities in Congress to push aside Democratic opposition, but they have run into a series of political and policy setbacks. Not all GOP lawmakers are on board with proposals to reduce spending on Medicaid, food stamps and other programs as a way to help cover the cost of extending some $3.8 trillion in Trump tax breaks.
“It’s time to get this legislation across the finish line,” said Senate Majority Leader John Thune, R-S.D. Ahead of roll call, the White House released a statement of administrative policy saying it “strongly supports passage” of the bill. Trump himself was at his golf course in Virginia on Saturday with GOP senators posting about the visit on social media.
But by nightfall, Trump was lashing out against holdouts, threatening to campaign against one Republican, Sen. Thom Tillis of North Carolina, who had announced he could not support the bill because of grave Medicaid cuts that he worried would leave many without health care in his state. Tillis and Sen. Rand Paul of Kentucky voted against. The president was working the phones from the Oval Office late Saturday night, according to a person familiar with the discussions who was not authorized to speak publicly and spoke on condition of anonymity.
Pressure was mounting from all sides—billionaire Elon Musk criticized the package as “utterly insane and destructive.”
The 940-page “One Big Beautiful
Bill Act was released shortly before midnight Friday, and senators are expected to grind through all-night debate and amendments in the days ahead. If the Senate is able to pass it, the bill would go back to the House for a final round of votes before it could reach the White House.
With the narrow Republican majorities in the House and Senate, leaders need almost every lawmaker on board.
A new analysis from the nonpartisan Congressional Budget Office said the Senate bill would increase by 11.8 million the number of people without health insurance in 2034.
Senate Democratic leader Chuck Schumer of New York said Republicans unveiled the bill “in the dead of night” and are rushing to finish the bill before the public fully knows what’s in it. He immediately forced a full reading of the text late Saturday in the Senate, which would take hours.
Make-or-break moment for GOP
THE weekend session could be a make-or-break moment for Trump’s party, which has invested much of its political capital on his signature domestic policy plan. Trump is pushing Congress to wrap it up and has admonished the “grandstanders” among GOP holdouts to fall in line.
The legislation is an ambitious but complicated series of GOP priorities. At its core, it would make permanent many of the tax breaks from Trump’s first term that would otherwise expire by year’s end if Congress fails to act, resulting in a potential tax increase on Americans. The bill would add new breaks, including no taxes on tips, and commit $350 billion to national security, including for Trump’s mass deportation agenda.
But the cutbacks to Medicaid, food stamps and green energy investments, which a top Democrat, Sen.
It reported that Ali Ghanaatkar, whose prosecution of dissidents, including Nobel Peace Prize winner Narges Mohammadi, led to widespread criticism by human rights groups, would be buried at a shrine in Qom. Iran has always insisted its nuclear program is only for peaceful purposes. But Israel views it as an existential threat and said its military campaign was necessary to prevent Iran from building an atomic weapon.
Khamenei’s last public appearance was June 11, two days before hostilities with
Ron Wyden of Oregon said would be a “death sentence” for America’s wind and solar industries, are also causing dissent within GOP ranks.
The Republicans are relying on the reductions to offset the lost tax revenues but some lawmakers say the cuts go too far, particularly for people receiving health care through Medicaid. Meanwhile, conservatives, worried about the nation’s debt, are pushing for steeper cuts.
Tillis said he spoke with Trump late Friday explaining his concerns. Paul of Kentucky had been opposed to the bill’s provision to raise the nation’s debt limit by $5 trillion.
And GOP Sen. Ron Johnson of Wisconsin, who initially voted no, switched hours later after private talks to agree to advance the bill.
As the roll call teetered, attention turned to Sen. Lisa Murkowski of Alaska who was surrounded by GOP leaders in intense conversation. She voted to proceed.
A short time later, Thune drew conservative holdouts Sen. Rick Scott of Florida, Mike Lee of Utah and Cynthia Lummis of Wyoming to his office, with Vance and Johnson also joining. Talks dragged on.
Then swiftly, Vance led them all back in to vote.
Later, Scott said he had met with the president, adding, “We all want to get to yes.”
Lee said the group “had an internal discussion about the strategy to achieve more savings and more deficit reduction, and I feel good about the direction where this is going, and more to come.”
After setbacks, Republicans revise some proposals
THE release of the bill’s draft had been delayed as the Senate parliamentarian reviewed the measure to ensure
Israel broke out, when he met with Iranian parliamentarians.On Thursday, however, he released a pre-recorded video, in his first message since the end of the war, filled with warnings and threats directed toward the United States and Israel, the Islamic Republic’s longtime adversaries.
The 86-year-old downplayed US strikes on three Iranian nuclear sites as having not achieved “anything significant” and claimed victory over Israel.
Questions remain over possible talks
THE head of the United Nations nuclear watchdog agency, Rafael Grossi, has characterized the damage done by American bunker-buster bombs to Iran’s Fordo nuclear site, which was built into a mountain, as “very, very, very considerable.”
US President Donald Trump has said
Supreme Court backs Trump on key policies, restricts authority of judges
By Greg Stohr
it complied with the chamber’s strict “Byrd Rule,” named for the late Sen. Robert C. Byrd, D-W.Va. It largely bars policy matters from inclusion in budget bills unless a provision can get 60 votes to overcome objections. That would be a tall order in a Senate with a 53-47 GOP edge and Democrats unified against Trump’s bill.
Republicans suffered a series of setbacks after several proposals, including shifting food stamp costs from the federal government to the states or gutting the funding structure of the Consumer Financial Protection Bureau, were deemed out of compliance with the rules.
But over the past days, Republicans have quickly revised those proposals and reinstated them.
The final text includes a proposal for cuts to the Medicaid provider tax that had run into parliamentary hurdles and objections from several senators worried about the fate of rural hospitals. The new version extends the start date for those cuts and establishes a $25 billion fund to aid rural hospitals and providers.
The CBO had said that under the House-passed version of the bill, some 10.9 million more people would go without health care and at least 3 million fewer would qualify for food aid. The budget office has started releasing initial assessments of the Senate draft, which proposes steeper reductions.
Top income-earners would see about a $12,000 tax cut under the House bill, while the package would cost the poorest Americans $1,600, the CBO said.
SALT dispute shakes things up
THE Senate included a compromise over the so-called SALT provision, a deduction for state and local taxes that has been a top priority of lawmakers from New York and other high-tax states, but the issue remains unsettled.
The current SALT cap is $10,000 a year, and a handful of Republicans wanted to boost it to $40,000 a year. The final draft includes a $40,000 cap, but limits it for five years. Many Republican senators say that is still too generous, but House Republicans are not fully satisfied either.
House Speaker Mike Johnson sent his colleagues home for the weekend with plans to be on call to return to Washington.
Associated Press writers Ali Swenson, Fatima Hussein, Michelle L. Price and Matthew Daly contributed to this report.
that he expects Iran to open itself to international inspection to verify it doesn’t restart its nuclear program, and White House officials have said they expect to restart talks soon with Iran, though nothing has been scheduled.
Iran’s parliament has voted to suspend collaboration with Grossi’s International Atomic Energy Agency for the time being.
In a post on X on Saturday, Araghchi indicated that Iran might be open to talks, but criticized Trump’s remarks from Friday in which the president scoffed at a warning from Khamenei against further US attacks, saying Iran “got beat to hell.”
“If President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran’s Supreme Leader, Grand Ayatollah Khamenei and stop hurting his millions of heartfelt followers,” Araghchi wrote.
THE US Supreme Court’s justcompleted term had a clear winner: President Donald Trump.
With a 6-3 ruling Friday restricting the power of judges to issue nationwide blocks on presidential initiatives, the court put an exclamation mark on a term dominated by Trump victories.
The court’s conservative supermajority sided with Trump on both broad legal questions and an unprecedented barrage of emergency requests to let his policies take effect right away. The end result was a stack of decisions deferring to Trump. The court let him discharge transgender people from the military, fire top officials at government agencies and open hundreds of thousands of migrants to deportation. The Supreme Court repeatedly reinstated Trump policies found by lower courts to be illegal, and it undercut judges who said the administration had violated their orders.
At times, the court gave little if any explanation for its actions, even as liberal justices blasted the majority for rewarding what they said was Trump’s lawlessness.
“The court treated him as if he were a normal president, and I think that was probably a mistake,” said Kermit Roosevelt, a professor who teaches constitutional law at the University of Pennsylvania. The court has yet to grapple with “what to do with the president who does not seem to be motivated by public spiritedness or the good of the country and doesn’t necessarily subscribe to American values like due process and liberty and equality.”
The ruling Friday gives the administration a new tool to try to stop judges from putting policies on hold. Writing for the majority, Justice Amy Coney Barrett faulted three trial judges for issuing so-called nationwide injunctions halting Trump’s plan to restrict automatic birthright citizenship.
“Federal courts do not exercise general oversight of the executive branch,” said Barrett, one of three Trump appointees on the court.
Trump, who thanked by name the six Republican-appointed justices in the majority, declared the decision a “monumental victory.” He said the administration would move to lift holds judges have placed on a number of his policies, mentioning fights over refugee resettlement, federal spending and so-called sanctuary cities.
“The Supreme Court has finally put a stop to this judicial activism, which has abused our constitutional separation of powers for too long,” Alabama’s Republican Attorney General Steve Marshall said in an emailed statement.
The decision was one of five rulings the court released Friday as it issued the term’s last opinions in argued cases. Among other decisions was one that backed Trump’s position by declaring that parents have the right to opt their children out of public-school lessons for religious reasons. Earlier in the month, the court agreed with Trump in another culture-war clash, upholding state bans on certain medical treatments for transgender children.
The court on Monday and Thursday will likely indicate new cases the justices will hear in their next nine-month term, which will start in October.
Salvadoran prison TRUMP suffered a rare setback in May when the court blocked the ad -
ministration from using a rarely used wartime law to send about 176 Venezuelans to a Salvadoran prison before they had a chance to make their case to a judge.
“This ruling was particularly significant because it showed the court’s willingness to enforce constitutional constraints even on immigration enforcement—typically an area where the court defers strongly to executive authority,” said Stephanie Barclay, a professor who teaches constitutional law at Georgetown Law School.
But the following month, the court appeared to undercut the decision when it let the administration resume quickly deporting migrants to countries other than their own. The court gave no explanation for the decision, which lifted a judge’s order that gave people 10 days’ notice and a chance to argue they would be at risk of torture.
The birthright citizenship case didn’t directly concern the legality of the restrictions, which would upend a longstanding constitutional right. Trump seeks to jettison what has been the widespread understanding that the Constitution’s 14th Amendment confers citizenship on virtually everyone born on US soil. The executive order would restrict that to babies with at least one parent who is a citizen or legal permanent resident.
The practical effect of the ruling remains to be seen. The 22 states challenging the citizenship plan can still argue at the lower court level that they need a nationwide halt to avoid the financial costs and administrative headaches that would result if the restrictions applied in neighboring jurisdictions. And Barrett explicitly left open the prospect that people challenging policies can press class action lawsuits.
A prominent critic of nationwide injunctions, Notre Dame law professor Samuel Bray, hailed the decision — but also predicted a surge of class action suits and new court orders blocking the citizenship policy.
“I do not expect the president’s executive order on birthright citizenship will ever go into effect,” Bray said in a statement.
Barrett cast the ruling as a nonpartisan one, noting that the Biden administration also sought to rein in the use of nationwide injunctions.
“It’s easy to see why. By the end of the Biden administration, we had reached ‘a state of affairs where almost every major presidential act was immediately frozen by a federal district court,” Barrett wrote, quoting from a law review article co-written by Bray and University of Chicago Law School professor William Baude. Critics of the court said that characterization missed a key point.
“It is true, of course, that universal injunctions have bedeviled both prior Democratic and Republican administrations,” Michael Dorf, a professor who teaches constitutional law and federal courts at Cornell Law School, said in an e-mail.
“But the court fails to recognize (or chooses to ignore) the fact that eliminating a tool for courts to rein in the executive branch is especially perilous at this particular moment, when we have an administration that is already inclined to take a casual attitude towards judicial orders.” Bloomberg News
JUSTICE Amy Coney Barrett
PHOTOGRAPHER: ERIC LEE/BLOOMBERG
SENATE Majority Leader John Thune, R-S.D., arrives for a closed-door Republican meeting to advance President Donald Trump’s sweeping domestic policy bill, at the Capitol in Washington, Friday, June 27, 2025. AP PHOTO/J. SCOTT APPLEWHITE
Receipts from coco exports surge in Jan-May
MT recorded in 2024.
TBy Ada Pelonia @adapelonia
HE country’s earnings from coconut-based products surged by nearly 52 percent to $1.41 billion as of May from the previous year’s $930.61 million as tight supply sent prices soaring, according to the Philippine Statistics Authority (PSA).
The value of coconut oil exports leaped by 55.4 percent to $1.18 billion in the first five months of the year from $761.88 million a year ago, based on PSA data. This led the tropical oil to top
the product group among other coconut-based products in terms of export revenues, accounting for about 84 percent. Coconut oil prices have been on an uptrend, buoyed by a sup -
IMPORTANT FRUIT CROP. A Local tourist views a vast pineapple plantation in Manolo Fortich, Bukidnon. Pineapple farming is integral to the Philippine economy, significantly contributing
ply crunch in major producing countries due to weather-related shocks as well as the spike in quotations for other vegetable oils, according to industry sources.
Historical figures from the World Bank showed that the average price of coconut oil skyrocketed to a record $2,742 per metric ton (MT) in May.
If this trend continues, the Philippine Coconut Authority (PCA) said the country’s export receipts from coconut oil alone will hit a new record-high in 2025, bolstered by rising demand and surging quotations in the international market. Last year, coconut oil earnings grew to $2.22 billion.
The World Bank projected that the average coconut oil quotation will settle at $1,800 per MT this year. This figure is higher than the average price of $1,519 per
Meanwhile, the country’s outbound shipments of desiccated coconut also expanded by 55.1 percent to $165.16 million in January to May from $106.49 million in the previous year.
Export revenues of other coconut products jumped by 48.1 percent to $43.78 million from $29.56 million.
However, earnings from the outbound shipments of copra meal and cake slumped by nearly 44 percent to $18.34 million from $32.68 million.
The PCA said it is aiming to plant 50 million coconut trees in 2026 as part of a national effort to reclaim the country’s status as the world’s leading coconut producer.
Agriculture Secretary Francisco Tiu Laurel Jr. noted that the figure is double the original
goal under the five-year coconut replanting program launched in 2023.
“The President has allocated additional funds for this, and we will involve coconut farming communities to fast-track the production of planting materials.”
The Philippines remains the top exporter of coconuts globally, but it currently ranks second in production. In 2024, Indonesia led with 17.13 million metric tons (MMT) of coconuts, while the Philippines recorded 14.77 MMT.
The ramped-up planting campaign forms part of a broader plan to plant 100 million coconut trees by 2028. So far this year, over 8.5 million trees have been planted, with another 15 million scheduled for the remainder of 2024.
The strategy also includes re -
placing the existing 340 million coconut trees, many of which are aging and underproductive. According to PCA, these senile trees yield just around 40 coconuts a year, which is roughly a third of the optimal output.
PSA data also indicated that the country’s exports of fruits and vegetables during the period grew by 16 percent to $1.16 billion from $1 billion.
The outbound shipments of bananas led the category, which rose by 20.5 percent to $654.88 million from last year’s $543.47 million, based on PSA data.
Exports of pineapple juice jumped by 39.7 percent to $54.57 million from $39.06 million a year ago. However, shipments of canned pineapple dipped by 0.6 percent to $93.90 million from $94.47 million.
Delay in CME blend hike seen cutting biodiesel output
THE proposed suspension of the scheduled hike in biodiesel blend could dent the country’s production of the biofuel this year, an international agency said.
In its latest report, the United States Department of Agriculture (USDA) said it expects the Philippines to produce 400 million liters of biodiesel in 2025. This figure is 50 percent higher than the 266 million liters produced last year.
The USDA said the projected production would meet the expected demand for the 3-percent coco-methyl ester (CME) biodiesel blend or B3 and the supposed hike to B4 this October.
However, the international agency said that if the B4 implementation is suspended, the
Govt upgrades science facilities in Laguna
THE Department of Agriculture
(DA) has rehabilitated two science facilities worth P6 million in Laguna aimed at boosting farm productivity and ensuring a stable supply of key high-value crops.
Agriculture Secretary Francisco Tiu Laurel Jr. said the improvements of the newly rehabilitated tissue culture laboratory and biocontrol agents facility at the Bureau of Plant Industry-Los Baños National Crop Research, Development, and Production Support Center “a solid step toward long-term food security.”
“First of all, this will help provide free, high-quality, and disease-free planting materials to our farmers,” he said. “The facility is a bit small, so by 2026, I will find a way to increase the budget for its expansion.”
The lab houses cultures of banana, ube, garlic, white potato, and other high-value crops.
Furnished with modern tools for mass
propagation, the DA said the facility will provide farmers with healthy, high-yielding planting materials.
The DA chief said there is a need to minimize the country’s dependency on imported garlic and ginger, noting that 95 percent of garlic in the market is imported.
“Even halving that importation would be a major win.”
He also emphasized ube’s potential in the export market. “Ube is something we can proudly call our own. When it comes to ube-based products, I think we’re among the best in the world.”
Meanwhile, the upgraded biocontrol agents facility aims to promote more sustainable, chemical-free farming by improving pest and disease management.
This is critical in improving resilience against climate and market shocks.
“Science, scale, and smallholder support must work together,” the DA chief said. “That’s how we build a stronger agricultural future.”
The DA is seeking a 10-percent hike in its 2026 budget to P170 billion to bolster the high-value crops sector.
Currently, the DA received a budget of P155 billion under the 2025 General Appropriations Act.
He noted that the composition of the proposed budget for 2026 would increase the allocation for high-value crops, such as sugarcane, onion, and coconut.
Furthermore, he said the proposed budget excludes the P30 billion from the Rice Competitiveness Enhancement Fund (RCEF) and the funding to sustain the government’s P20 per kilo rice program.
“We have to put priority on so many other agricultural sectors. As I said, everything is a priority. For the last few years, we’ve put so much into rice, which is also necessary. But with the RCEF, I think it’s time to put emphasis on other crops.”
Ada Pelonia
‘Unpopular crops can help boost food security’
PROMOTING the cultivation of underutilized crops will not only promote inclusive agriculture but also help the Philippines achieve food security, according to a scientist.
Rodel Maghirang, former director of the Institute of Plant Breeding (IPB), said many underutilized plants can inherently withstand drought, salinity, and poor soil conditions. Among these are adlay, Job’s tears, bago, and katuray.
“Aside from their resilience, they are also nutrient-dense,” Maghirang said during the International Plant Breeding Conference in Manila last Thursday. “So, (these crops have) superior micronutrient profiles and diversity in nutrients (that) can reduce dependence on imported staples.”
In particular, crops like moringa, kapaskapas, winged bean, sugod-sugod are packed with micronutrients, such as iron,
zinc, calcium, potassium, and vitamins A, C, and E.
“These are in contrast to the caloriedense but nutrient-poor (crops).”
Maghirang noted that underutilized crops like hagis, kapas-kapas, batwan, and katmon can also offer economic opportunities, particularly through the value-adding process.
“Batwan and katmon can be processed for souring agents, and they can also be aligned with organic, slow food, and diverse product branding.”
Currently, he said marketing is focused on voluntary sustainability standards, which can be used in developing these underutilized plants.
He also noted that growing these crops boosts market competitiveness and productivity, opening up new revenue streams for smallholder farmers. Moreover, Maghirang said the
cultivation of these underutilized crops offers cultural and indigenous knowledge preservation.
“When we collect these indigenous materials, we also gather the traditional knowledge and practices associated (with them).”
He added that this promotes community participation and farmer-led innovation in plant improvements.
“We can learn a lot from the farmers, especially in the remote areas, on selection, on traits that we do not usually select, but for them [are] very important.”
Maghirang said many underutilized crops can grow well with low-input systems, since it has a “nice collaboration” with the microbes.
He noted the potential that these crops can offer, particularly for scientific research, genomics, botany, pharmacology, and agroecology. Ada Pelonia
Philippines will churn out only 360 million liters in compliance with the B3 mandate for the full year.
“While coconut production is abundant in the Philippines, the bulk of coconut oil goes to traditional exports, reducing available supply for biodiesel producers,” the USDA said.
The National Biofuels Board (NBB) recently recommended putting on hold the mandated 4 percent hike in biodiesel blend this year amid the surge in feedstock quotations, which could put pressure on pump prices.
Despite this, the NBB’s recommendation is still subject to the approval of the Department of Energy (DOE) secretary, who chairs the board.
Coconut oil prices have recently skyrocketed to a historic $2,742 per metric ton (MT) in the international market, based on World Bank data. Industry sources attributed this to tight supply in top-producing regions.
Locally, prices of copra or the raw material used to produce coconut oil have also spiked in recent months.
Under the law, the Philippines is prohibited from importing biodiesel, the USDA said.
Meanwhile, the international agency would also adjust downward the country’s biodiesel consumption to 360 million liters from 400 million liters this year, should the suspension of the B4 mandate push through.
Under the Biofuels Act of 2006 or Republic Act (RA) 9367, all liquid fuels for motors and engines sold in the country should be blended with biofuels. In 2007, the Philippines implemented a 1-percent biodiesel blend (B1) in compliance with RA 9367. This was increased to 2 percent or B2 in 2011.
The government raised it to 3 percent or B3 only last year, a move aimed at minimizing the country’s dependence on imported fuels, reducing greenhouse gas emissions, and bolstering the local biodiesel and bioethanol sectors.
The CME blend increase to 4 percent or B4 will take effect in October. Next year, the CME blend should go up to 5 percent (B5). Ada Pelonia
India rice bins are stuffed and another record crop coming
INDIA’S stash of rice is running at the highest for this time in at least two decades, raising the risk it will run out of room to store it all as another record crop looms. Overflowing reserves— equal to more than one-tenth of the annual global production—are becoming a headache for the world’s secondbiggest grower as authorities struggle to create extra storage. Forecasts of above-average rains have raised expectations that the nation will reap another bumper crop this year, increasing the risk of the grain rotting in open storage facilities.
“Our outlook for Indian production is favorable, pointing to another record Indian crop being harvested in 2025-26,” said Shirley Mustafa, an economist at the United Nations’ Food and Agriculture Organization. The arrival of the new crop in September and October raises the prospect of increased supply pressure on public granaries, she said.
India is the world’s top shipper, and its move to ease export restrictions has helped push Thai prices—an Asian benchmark—down almost 40 percent from a 15-year high in January 2024. Still, the country’s swelling surplus shows its struggle to find enough demand to meet rising supply. Global stockpiles are expected to reach a five-year high in the coming season, which could keep prices under pressure.
Rice acreage in the South Asian nation jumped 58 percent from a year earlier as of June 20, helped by the early
onset of monsoon, according to the farm ministry. Planting will be completed in most parts of the country by the middle of August.
India heavily influences the global rice market, Mustafa said. “But we also have to see how crops fare in competing suppliers and in important rice buyers.”
Inventories totaled almost 38 million tons this month, according to the state-owned Food Corporation of India. It’s also holding more than 32 million tons of the unprocessed grain, equivalent to about 22 million tons of rice, data showed. The country maintains wheat and rice reserves for various welfare programs, including 5 kilograms of free grains per person every month to needy people.
The government last month allowed the use of 2.8 million tons of rice from state reserves for ethanol manufacturing, in
addition to 2.4 million tons approved earlier, according to the Hindu Businessline newspaper. It was a highly unusual move for the important food staple, and a bigger crop could spark further steps. Still, more than 140 million people remain excluded from the food distribution program, due to the continued use of decade-old population data to calculate beneficiaries. India plans to spend about 2 trillion rupees ($23 billion) in the fiscal year ending on March 31 to run the world’s biggest food program. The federal government purchases cereals such as rice and wheat from farmers at guaranteed prices and distributes the grain to about 800 million people through a vast network of retail shops. These assured prices aim to shield farmers from distress sales in the open market.
to national income and providing rural employment, particularly in Mindanao. The Philippines leads global pineapple production, generating around 2.7 million metric tons annually. Its favorable tropical climate and volcanic-rich soils in regions like Bukidnon and South Cotabato create optimal conditions for cultivation. Major farms in Mindanao, managed by multinational companies and local farmers, plant mostly the MD2 and Queen varieties, which are exported to Japan, South Korea, and the Middle East. NONIE REYES
A necessary step towards a safer digital landscape editorial
AS the digital landscape expands, so too does the threat posed by harmful artificial intelligence (AI)-generated content. The recent announcement by the government to procure new digital systems for scanning and removing such content is a commendable and necessary move toward safeguarding our online spaces. (Read the BusinessMirror story: “Government to acquire new tools to track AI-driven threats,” June 26, 2025).
Renato Paraiso, deputy executive director of the Cybercrime Investigation and Coordinating Center (CICC), outlined an ambitious plan to enhance the country’s capabilities in detecting and addressing AIrelated threats. This proactive approach is essential in an age where the misuse of technology can lead to significant harm, from scams to the spread of disinformation. The shift from merely detecting deepfakes to enabling real-time removal signifies a critical evolution in our response to digital threats.
Deepfakes, once confined to novelty, now represent a serious risk. They can deceive individuals and manipulate public opinion, making it imperative that we evolve our strategies in tandem with advancing technologies. The CICC’s commitment to not just identifying but actively eliminating these threats reflects an understanding that detection alone is insufficient. It highlights a broader responsibility to protect citizens as they navigate an increasingly interconnected world.
Collaboration with major social media platforms is another pivotal aspect of this initiative. While these companies have shown a willingness to cooperate, there is still a pressing need for improved moderation and enforcement mechanisms. The CICC’s discussions with platforms like Meta, YouTube, and TikTok are crucial for establishing a unified front against harmful content. However, the effectiveness of this collaboration will depend on sustained commitment from both the government and these platforms.
Public awareness is equally vital. The Department of Information and Communications Technology (DICT) is right to emphasize education about online risks. As individuals become more aware of potential threats, they can take proactive measures to protect themselves. The proposed action centers, located near public transportation hubs, will lower the barriers for reporting incidents, making it easier for victims to seek help. This is a practical and compassionate step toward addressing the stigma that often accompanies victimhood in online scams.
Yet, as we celebrate these advancements, we must not overlook the regulatory landscape surrounding AI. Paraiso’s call for legislation that keeps pace with technological advancements is critical. Without a robust legal framework governing AI, our responses to detected threats will remain inadequate. It is essential for lawmakers to engage thoughtfully with the implications of AI, ensuring that regulations not only address current challenges but also anticipate future risks.
The government’s initiative to enhance digital defenses against AIgenerated threats is a vital stride towards a safer Internet. By investing in technology, fostering collaboration, and promoting public awareness, we can create a more resilient digital environment. However, this effort must be accompanied by a commitment to robust regulatory measures that guide the ethical use of AI, ensuring we not only adapt to new challenges but also shape a safer future for all Internet users.
Opinion BusinessMirror
A midyear checkup
TRISING SUN
ODAY, we reach the halfway point of 2025, so it’s the perfect time to take stock of how the economy is holding up. For starters, we see that the economy continues to grow, but not as quickly as the government expected.
In the first part of the year, the economy expanded by about 5.4 percent. While this is a solid figure, it falls short of the 6 percent to 8 percent growth target set at the start of the year. For the most part, this reflects a world grappling with a host of challenges, including the ongoing conflict in the Middle East and shifts in trade policies from economic leaders such as the United States.
Despite these global headwinds, Filipino families continue to spend, and the job market remains relatively
healthy. Household spending and government investments in infrastructure are still driving the economy forward, though with a bit more caution than before. Economists remain optimistic that growth will pick up in the coming years, especially if some of these global uncertainties begin to ease.
One bright spot for us is the inflation rate. Prices aren’t rising as fast as they did in recent years; in fact, inflation dropped to about 1.4% in April 2025, the lowest in several years. Because of this, the Bangko
Sentral ng Pilipinas (BSP) has been able to lower interest rates, making it easier for people and businesses to borrow money and invest.
The government, on the other hand, is still spending more than it earns. The 2026 national budget, for example, is large, as the government remains focused on investing in critical areas like infrastructure, education, and healthcare.
Trade remains a key part of the Philippine economy, as do remittances from millions of Filipinos working abroad (OFWs). Exports grew by 7 percent in April 2025 and by 9.5 percent in the first four months of the year, though there is caution about future demand due to global challenges. Imports are still growing, fueled by steady local spending and government projects.
However, it’s important to recognize the risks that could cloud the outlook for the rest of the year.
If the conflict in the Middle East gets worse, oil prices could surge, making transportation and goods more expensive for everyone. Since the Philippines imports nearly all
of its oil, any spike in prices would quickly ripple through the economy, raising the cost of living and potentially reversing recent gains in price stability.
Another major risk this year is the health of the world’s biggest economies. If the United States or China slows down more than expected, demand for Philippine exports could fall, and job opportunities tied to international trade could shrink.
The government continues to push forward with new laws and reforms that will make it easier for businesses to invest and create jobs. There’s also a big focus on improving infrastructure and preparing the country for climate change. All in all, at the midpoint of 2025, the Philippine economy fortunately seems to be on steady ground. And while there are significant challenges ahead, especially from global events, we are all taking steps to stay resilient and keep moving forward. We’re all hoping the next half of the year will be more positive, productive, and peaceful, not just for us here, but for the rest of the world.
LITO GAGNI
O the Filipino shopper, SM is not just a mall—it is the mall. A household name. A weekend ritual. A trusted brand stamped on grocery bags, ATM receipts, and childhood memories. From the bustle of bargain hunters to the quiet hum of window shoppers, SM has become the nation’s favorite one-stop shop—not merely for merchandise, but for meaning.
Where else can one buy shoes, pay bills, get a bite of turon, savor halohalo, watch a blockbuster, get a flu shot, and open a savings account— all under one roof? SM isn’t just a place to spend—it’s where Filipinos live, laugh, linger. And yet, behind the glitz of its atriums and the pull of its “3-day sale” banners lies a corporate colossus whose empire extends far beyond its shopping floors. Indeed, SM is not just about foot traffic—it is about economic traction. The mall’s holding firm SM Investments, is the market bellwether in the Philippine Stock Exchange and last year it earned P82.8 billion, up 7 percent from its 2023 earnings of P77 billion, a testament to how the mall has become more than just a place of leisure, but a profit engine. Aside from the mall, controlled through another listed firm SM Prime, the conglomerate is also into banking, which accounts for nearly half of SM’s earnings. Through BDO
Unibank and China Banking Corporation, the SM brand doesn’t just manage deposits; they underwrite dreams—from microloans for sarisari stores to mortgages for firsttime homeowners. In a sense, SM doesn’t just sell—you shop there today and save there tomorrow.
Tracing SM’s journey is like flipping through a retail catalogue of Philippine progress. It began with a humble shoe store on Rizal Avenue in 1958. Henry Sy, a merchant with an eye for opportunity, didn’t just sell shoes—he sold aspiration. That little shoe store became Shoemart, which later became SM, a brand now synonymous with scale, success, and savvy expansion.
To understand the underpinnings of SM’s huge success is to get a glimpse of Tatang Henry Sy’s persona. He remembers. He gives back. In the ’80s as a business reporter for the Times Journal, I saw Tatang Henry at a China Bank stockhold-
Tracing SM’s journey is like flipping through a retail catalogue of Philippine progress. It began with a humble shoe store on Rizal Avenue in 1958. Henry Sy, a merchant with an eye for opportunity, didn’t just sell shoes—he sold aspiration. That little shoe store became Shoemart, which later became SM, a brand now synonymous with scale, success, and savvy expansion.
ers’ meeting where I got wind of his buy-in into China Bank via the purchase of the shares of the family of Uy Chaco. But he asked me not to write it.
I understood why later on. Tatang Henry took his first loan of P1 million from China Bank, then headed by the late Dee K. Chiong. It was a clean loan and it established himself as a trustworthy businessman and that allowed him to scale his operations and build his business empire. But even though he could have folded China Bank into BDO Unibank, he allowed the bank to have its own identity. He gives back. He remembers. In a way, a tribute to the roots of his successful business foray into the Philippine business scene. And much like her father, the conglomerate’s Ms Tessie Sy Coson makes it a point to grace milestones in her circle of friends like when she graced last April, the birthday bash of ALC Group’s top honcho D.
Edgard Cabangon at Wack Wack. In the Philippine business landscape, success comes from small gestures that telegraph big possibilities. In 1985, SM City North Edsa opened, defying a recession and redefining Filipino consumer culture. Fast forward to today: 88 malls across the country. Eight more in China. And yes, in every provincial capital or urban sprawl, the SM logo rises like a modern-day cathedral to capitalism—worshipped by millions who browse, bank, and buy. Yet SM’s influence doesn’t stop at the checkout lane. It invests in communities through jobs, scholarships, food security programs, disaster resilience efforts, and health campaigns. From supermarket staff to school-building drives, SM threads itself into the local fabric—an anchor tenant not just in malls, but in the nation’s economic development.
And while few might associate SM with supply chains or energy, it is quietly moving into those aisles too. SM owns 2GO, the country’s largest logistics network, and is betting big on geothermal energy via the Philippine Geothermal Production Company—proof that behind the checkout counters lie boardrooms looking generations ahead. Even the sweet tooth is not forgotten. Goldilocks, now under SM’s expanding portfolio, is being frosted with fresh capital and market reach, proving once again that SM does not merely acquire brands—it rejuvenates them.
See “Gagni,”
Antonio L. Cabangon
Atty. Jose Ferdinand M. Rojas II
Principles-based tax planning
TDEBIT CREDIT
Part four
HERE is a growing global trend towards principled tax practice, tax transparency and information disclosures, and general anti-avoidance rule (GAAR). Several countries, including the Philippines, have joined this bandwagon and have benefited from the resulting positive outcomes of ethical tax compliance from taxpayers and increased collections from tax administrations.
In Australia, the Treasury Laws Amendment Fairness and Accountability Act of 2024 was passed to strengthen the regulation of tax practitioners. This law came about in response to the aftermath of the Price Waterhouse & Coopers (PWC) tax leaks in 2015 and 2022. This primarily involved a former PWC international tax chief leaking confidential government tax information to PwC colleagues and clients that enabled them to design tax avoidance schemes and gain a commercial advantage. This recent law updated the coverage of tax practitioner engagement terms, enhanced the whistleblower protection program, and provided greater data sharing that allows taxation officers more authority in handling data-privacy protected information involving erring taxpayers.
The Organization for Economic Co-operation and Development (OECD) has developed a comprehensive framework of guidelines and policies to combat aggressive tax planning and promote principled tax practices. These primarily focused on combating the abusive tax practices of multinational enterprises (MNEs) and cross-border tax avoidance. The OECD has undertaken the Base Erosion and Profit Shifting (BEPS) initiative. The BEPS project, outlined in 15 Actions, provides rules to close gaps in tax systems exploited by MNEs to shift profits to low-tax jurisdictions. Key strategies on these include:
Action 1: Addressing tax challenges from digitalization, ensuring profits are taxed where economic activities arise.
Action 5: Countering harmful tax practices by enhancing transparency and requiring substance in preferential tax jurisdictions.
Action 13: Mandating countryby-country reporting to expose profit-shifting strategies and ensure MNEs disclose income, taxes paid, and activities in each jurisdiction.
Action 15: Implementing the Multilateral Convention to streamline tax treaty updates and prevent treaty abuse.
Another measure adopted by the OECD is its Global Minimum Tax (GMT)initiative.
Over 140 countries, including the Philippines, agreed to a 15% global minimum corporate tax rate under its Pillar Two approach to prevent a “race to the bottom” in tax competition. As of 2024, 60 jurisdictions are implementing legislation to enforce this floor, ensuring MNEs pay taxes in countries proportionate to their economic presence. The Philippines has yet to pass a law to implement the GMT, with the fiscal and congressional leaders scrutinizing the impact on the country’s tax incentives pro -
For all these reasons, SM Investments, BDO Unibank, and Chinabank have made it to the Fortune Southeast Asia 500 list for the second consecutive year—standing shoulder to shoulder with regional giants from Singapore to Indonesia. Meanwhile, Forbes has recognized SM and BDO as part of the world’s 2,000 largest publicly listed companies.
From escalators to equity mar -
Words matter
Mgram and its competitiveness in the global tax community.
The OECD has long issued its Guidelines for Multinational Enterprises (Guidelines) that emphasize corporate responsibility in taxation. These Guidelines encourage companies to avoid aggressive tax practices by adhering to the “spirit of tax laws” principle and not just technical compliance. It mandates the consistent application of the arm’s length principle in transfer pricing to prevent intra-group profit manipulations. The Guidelines also prescribe tax risk management systems for taxpayers to address their reputational and regulatory risks. The Guidelines also provide civil society empowerment to hold companies accountable via National Contact Points for unethical practices.
The OECD collaborates with bodies like the International Ethics Standards Board for Accountants (IESBA) and the International Federation of Accountants to reinforce ethical tax planning. The IESBA Code of Ethics (effective July 1, 2025) requires accountants to consider reputational, commercial, and societal impacts of tax planning, moving beyond legal technicalities. The accounting profession, throughout the world, leads this very noble global tax initiative. The Philippines is expected, through the Professional Regulatory Board of Accountancy, to implement this after the appropriate Resolutions are signed.
The Bureau of Internal Revenue (BIR), under the leadership of Commissioner Romeo Lumagui, Jr., has been in step with the rest of the international tax community in promoting principled tax practices and in combating illegal tax actions. The BIR has reached milestone records in its tax collection efforts and proactive taxpayer service.
In the recent Bureau of Treasury report, the BIR recorded a 16.67% growth in tax collections, reaching P690.4 billion in the first quarter of 2025. These increased tax collection efforts are an indication of the growing collaboration between the BIR and taxpayers.
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 is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm, JL2T Consulting.
kets, food courts to Fortune rankings, SM has evolved into something far greater than the sum of its storefronts. It is a mall, yes—but also a movement. A financial powerhouse. A logistical hub. A custodian of consumer hopes and corporate resilience.
So the next time someone says “SM,” think not just of shopping bags, but of balance sheets. Not just of sales, but of scale. Because in the Philippines, SM isn’t just where we shop. It’s where the economy malls.
Siegfred Bueno Mison, Esq.
THE PATRIOT
ISTAKES are bound to happen. Regardless. After all, we are all human beings, living an imperfectly perfect life using the words of British Japanologist Beth Kempton. People who seek perfection tend to see a few minor errors as fatal although in truth, such can be inconsequential. I have been teaching contract law for about 20 years now; I have seen oh so many contracts in my 10-year career as corporate counsel, both here and abroad. During contract negotiations, it is important to take note of every word said given that some words can be straightforward and simple while others would have multiple meanings depending on the context as to how they were mentioned. Needless to say, the conjunctive word “and” as opposed to “or” can be fatal in any contract. Of course, misspelled words can be excusable whereas some placement of punctuation marks in sentences can be taken differently. Words matter in contracts.
In law, words matter as much.
Article XI, Section 3(4) of the 1987 Philippine Constitution states that “in case the verified complaint or resolution of impeachment is filed by at least one-third of all the Members of the House, the same shall constitute the Articles of Impeachment, and trial by the Senate shall forthwith proceed.” The word “forthwith” has become one of the more googled words in recent weeks in this country since the legal luminaries and concerned legislators have weighed in on the meaning of such simple word. All dictionaries would say that “forthwith” means immediately, without delay, or as soon as reasonably possible. Yet, such a simple word has elicited several interpretations of “levels” of urgency. In announcements imbued with public interest, words also matter. In the recent Israel-Iran-US conflict, the word “obliterated” has taken several meanings although, as far as my level of understanding of the English language goes, the word obliterate means completely destroyed with little or no trace remains. In the law on succession, obliterate, as one of the overt acts in revoking a last will or testament, means to remove all signs of something, ei-
ther by destroying it or by covering it so that nothing can be seen. Still, US President Donald Trump or his chosen advisers or speechwriters intentionally used the word “obliterated” when he described the effectiveness of the airstrikes made by US B-2 Stealth bombers against three nuclear enrichment sites in Iran. Even Trump’s Defense Secretary and Spokesperson have doubled down on the word “obliterated” despite the preliminary findings of the defense intelligence agency. In my six years as an intelligence officer collecting and processing information, the fact of obliteration of these sites within hours from the bombing is possible, even probable, but cannot be considered as conclusive unless there are further information that can corroborate, such as actual evidence on the targets themselves. In contrast, when an Air India London-bound Boeing 787-8 Dreamliner crashed less than a minute after taking off on 12 June, no person including experts could say that the crash was due to a plane malfunction or pilot error. There were speculations but crash investigators who have recovered flight recorder data from both sets of Enhanced Airborne Flight Recorders (EAFRs) known as the “black boxes”
are cautious in making any conclusive pronouncement. Yet, some words can be used to emphasize or exaggerate in trade, more known as “dealers talk.” Perhaps US President Trump and some of his cabinet members used the word obliterate to exaggerate a moment in history, either to show off the American lethal arsenal of weapons or to convince Iran to agree to a ceasefire with dispatch or both. I suppose the avowed purpose of such use of the word obliterate was achieved given that Iran and Israel agreed to a ceasefire, however delicate or sensitive it may hold. I suppose the same goes as to how lawyer-senators have interpreted the word “forthwith” since they have managed to convince themselves or their colleagues in the Senate that forthwith can mean something else aside from “immediately.” Some political analysts say that this unfortunate development can lead to a constitutional crisis since the legislator-judges hearing the impeachment case, the legislator-prosecutors participating in the impeachment case, and even the impeached officer herself are all in disagreement as to how to proceed with this case, given the varying interpretations of the words used in the Constitution, among other applicable rules.
Any person creating a written instrument, either a Constitution, a contract, or a public speech, should be extraordinarily careful in the choice of words. Whatever was discussed during the negotiations or deliberation process ought to be reflected in the written instrument. But if there is a mistake in the document itself which does not represent the real intention of the parties, not too many practicing contracts lawyers are aware of the remedy of reformation as provided in Article 1359 of the Civil Code. Reformation of instruments is a remedy in equity to forestall the effects of mistake, fraud, inequitable conduct, or accident in a written instrument, supposedly final and inflexible due to the signatures of the contracting parties in the document. But I do not think that the words “forthwith” and “obliterated” as used in the Constitu-
tion and by Donald Trump need not be reformed. Their plain and literal meaning should hold. Words truly do matter. Under the law of the land as provided in Article 1340 of the Civil Code, exaggerations (“dolus bonus”) can be considered as “tolerated fraud” and not an actionable wrongdoing, provided that the other party had an opportunity to know the facts. Under the law of the Lord, believers are reminded that words can create both good and harm. We should be circumspect with our use of words, in keeping with the Bible which tells us in Proverbs 15:4, “The soothing tongue is a tree of life, but a perverse tongue crushes the spirit.” The same book of Proverbs reminds us of the immense power of words: “Death and life are in the power of the tongue...” (Prov. 18:21). Our words can impact many areas of our lives, be it our health, friendships, career, the relationship of nations, and yes, even an impeachment proceeding. Hence we are cautioned to handle our words accordingly. One wrong statement, or a right one but interpreted differently, can trigger a war, in much the same way that a vague word, or one prone to many interpretations, can delay justice. No matter which way we put it, both life and liberty can hang by a thread depending on the words one chooses to use. Leaders, whether in government or in the private sector, have the heavier burden and responsibility to wield the power of their words to encourage instead of destroy.
Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations such as the Philippine Army, Integrated Bar of the Philippines, Malcolm Law Offices, a U.S. based software development company called Infogix Inc, University of the East, Bureau of Immigration, Philippine Airlines, SM Prime Holdings, Franklin Baker Company of the Philippines, and SONAK Corporation. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA.
Siegfred is a former soldier and a lawyer by profession, an educator and inspirational speaker by passion, and a book author, writer, and radio broadcaster with a mission.
Russia tries again to expand LNG exports upended by sanctions
By Stephen Stapczynski
RUSSIA is taking another crack at expanding exports of liquefied natural gas after US sanctions stalled efforts last year.
An LNG vessel has docked at the Arctic LNG 2 export facility for the first time since October, according to ship-tracking data compiled by Bloomberg and satellite images. The facility was supposed to be a cornerstone of Moscow’s goal to increase LNG exports threefold by 2030, but has been idle for months after struggling to find buyers willing to break western restrictions.
Russia has the pieces in place to meaningfully boost LNG exports as it expands its shadow fleet. Since the 2022 invasion of Ukraine, Russian gas pipeline exports to Europe have dwindled, and shipping more fuel via seaborne LNG tankers provides an attractive revenue stream to fill Moscow’s coffers.
Shadow fleet
AT least 13 ships, including those that can navigate icy waters, have been marshaled to potentially service Arctic LNG 2, with some changing management companies several times to help obfuscate the actual owners. According to ship-tracking data compiled by Bloomberg they include:
Four ice-class vessels that can navigate the frozen waters around Arctic LNG 2. Three are currently idled in the Barents Sea, while another is the tanker currently docked at Arctic LNG 2
Three more traditional LNG vessels are in the Barents sea.
Two vessels are under repair in China, with another that appears to be on the way.
One vessel near a floating storage in Russia’s Far East.
Two vessels are idled in the Gulf of Finland. They had served another Russian facility called Portovaya,
which was sanctioned by the US in January.
“Russia does have more vessels at its disposal compared to the summer/fall of 2024,” Malte Humpert, founder of the Arctic Institute, a Washington-based think-tank, said in an email. “If it can find buyers, this small fleet should be sufficient to lift cargoes.”
Eight shipments were exported from Arctic LNG 2 between August and October 2024, but never docked on foreign shores. Instead, the gas was offloaded into two Russian storage units in the Barents Sea and its Far East region. Large-scale production halted in October after ice built up around the facility and made transport by traditional vessels challenging.
Russia’s first domestically built ice-class LNG tanker may come online in the second half of this year if it passes remaining sea trials, Interfax reported Wednesday, citing Sovcomflot Chief Executive Officer Igor Tonkovidov.
Willing buyers?
NOW, the market will be closely monitoring whether Arctic LNG 2 can find willing buyers. Exporting more would be a boon for consumers, as it would put pressure on global gas prices.
Russia has the pieces in place to meaningfully boost LNG exports as it expands its shadow fleet. Since the 2022 invasion of Ukraine, Russian gas pipeline exports to Europe have dwindled, and shipping more fuel via seaborne LNG tankers provides an attractive revenue stream to fill Moscow’s coffers.
The Biden administration was diligent in sanctioning ships and companies connected with exporting fuel from Arctic LNG 2 last year. It isn’t clear if the Trump administration will be as strict, or if the government will slap restrictions on ports that accept the fuel. The threat of retaliation from the US kept buyers at bay last year.
Officials related to the Arctic LNG 2 joint venture have never stopped trying to sell the fuel, traveling to potential buyers in India and China over the last year, according to traders with knowledge of the matter. However, it isn’t clear if they have been able to secure any sales.
“The biggest obstacle remains finding a buyer and shipping capacity,” Jan-Eric Fahnrich, a senior analyst at Rystad Energy, said by email. “They will then circle around looking for buyers in Asia and Novatek will offer a discount.”
Majority shareholder Novatek PJSC and the operating venture Arctic LNG 2 did not respond to emails seeking comment.
Iris, the tanker currently docked at Arctic LNG 2, is a so-called Arc4 vessel, with a reinforced hull that allows it to navigate the shorter Arctic route to Asia when conditions allow in the summer. It is
likely that the ship will make the journey, as Asia is home to buyers who may be willing to circumvent western restrictions.
“China would appear to be the most likely candidate, but with consistently declining Chinese demand for the past eight months this won’t be an easy task,” said the Arctic Institute’s Humpert. “The fact that more than one million cubic meters of LNG loaded last year remains unsold, and in floating storage, does not bode well for renewed attempts to market additional volumes this summer.”
Loading vessels at Arctic LNG 2 could also be necessary to ease brimming gas tanks. Satellite images taken June 25 indicate that two production trains at the facility are flaring, which indicates they could be operating or cooling down equipment. Without steady exports, the plant’s storage will quickly fill up, and lack of space was one of the reasons why Arctic LNG 2 stopped large-scale production in October.
Meanwhile, traders will wait to see if US or European officials further tighten restrictions on the facility as exports resume.
“Now is the time for increased pressure” on Russia’s energy revenues, said Geoffrey Pyatt, distinguished fellow at the Atlantic Council Global Energy Center and a former US assistant secretary of state who helped craft Arctic LNG 2 sanctions under the Biden administration. “European leaders have expressed new determination to end all imports of Russian gas, making it even more important that the United States maintains our pressure on Novatek.” With assistance from Anna Shiryaevskaya/ Bloomberg
Joel L. Tan-Torres
Monday, June 30, 2025
BusinessMirror
Marcos govt to borrow ₧690B from local debt market in Q3
By Reine Juvierre S. Alberto @reine_alberto
THEMarcos Jr. administration will borrow P690 billion from the domestic debt market in the third quarter to help plug the widening budget deficit of the Philippines.
TOO EARLY TO CHEER TRUCE IN MIDDLE EAST, ANALYST WARNS
By Cai U. Ordinario
DOWNPLAYING the impact of the Middle East conflict on oil prices and overall economic growth
“may be too premature” at this point, even after the declaration of a ceasefire, according to the United States-based Global Source Partners.
In a new economic brief, Global Source Partners Country Analyst Diwa Guinigundo said the ceasefire, at best, caused an initial decline in oil prices. The decline, however, was only temporary given the “violations of the (ceasefire) declaration by both sides.”
Last week, US President Donald Trump announced that a ceasefire agreement was reached but only hours after the disclosure, both Israel and Iran violated the truce. (See: https://businessmirror.com.ph/2025/06/25/dfa-welcomesisrael-iran-ceasefire/).
to the volatility and unpredictability in the oil industry especially when fraught with political undercurrents. Oil prices in the Philippines could make or unmake both the growth and inflation targets,” Guinigundo said. The former central bank deputy governor added that the Philippines also needs to consider the impact of these global developments on overseas Filipino workers (OFWs). Guinigundo said the Philippines has begun evacuating 30,000 Filipinos in Israel and 1,200 Pinoys in the Islamic Republic of Iran. He stressed that should the crisis spread to other parts of the Middle East, remittances from OFWs in these countries could decline and “weaken public consumption.” It can be noted that consumption accounts for 70 percent of the country’s GDP. “It
Particularly, P125 billion will be raised in July, P120 billion in August and P120 billion in September.
The Treasury could raise more than what it had planned after the government lowered the revenue target for the year.
“This leads to wider budget deficits or government spending exceeding government revenues that would fundamentally require more government borrowings than otherwise, unless there is a meaningful reduction in government spending to offset the lower government revenues,” Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, said. Ricafort said introducing new tax-
The Bureau of the Treasury (BTr) will raise a total of P690 billion through the issuance of Treasury bills (T-bills) and Treasury bonds (Tbonds) from July to September. The programmed amount is higher by 9.52 percent or P60 billion than the P630 billion it intended to raise in the same period a year ago. However, the borrowing plan is lower than the P735-billion target in the previous quarter. Specifically, the government will issue 91-, 182- and 364-day tenor Tbills every Monday to raise a total of P325 billion in the third quarter. Broken down, P125 billion is programmed for July, while P100 billion is set for August and September. The Treasury will also sell T-bonds with maturities ranging from three to 25 years every Tuesday to generate a total of P365 billion.
es is one of the last options to consider if other initiatives are not enough to reduce the government’s debt.
Still, he said, “there is a need to hedge the national government’s borrowing requirements as a matter of prudence, a larger amount for the longest tenors possible to better manage future maturities and prevent bunching over the short-term.”
This is necessary because of global market volatility due to Donald Trump’s higher tariffs, coupled with Middle East tensions that led to some volatility in global crude oil and other commodity prices and other geopolitical risks, amid the need to manage wider budget deficits seen in recent months, he added.
The US Federal Reserve may reduce key rates by 50 basis points this year, which could be matched by the Bangko Sentral ng Pilipinas (BSP) by lowering government borrowing costs.
However, Ricafort said geopolitical risks in the Middle East and fiscal and debt concerns in the US could increase US Treasury yields, which are the basis for pricing debt worldwide.
This year, the government will borrow a total of P2.545 trillion.
An 80:20 borrowing mix will be followed to reduce the country’s exposure to foreign exchange risks.
Of the amount, P2.037 trillion will be raised domestically while P507.408 billion will come from external sources.
“The President’s comments may be too premature because right before and after the ceasefire unilaterally declared by US President Donald Trump early this week, there were significant mutual ballistic exchanges. Such a truce was almost meaningless because previous attacks on each other were followed by more intense operation,” Guinigundo said. He also said the announcement of the Organization of the Petroleum Exporting Countries to increase oil volume production and the slowdown in global growth will lead to a decline in oil demand.
This, however, must not be viewed as a guarantee of favorable economic conditions that will lead to faster economic growth.
“One cannot be too careful when it comes
Dr. Arlyn Mandas: 'Aquaculture can be fun and therapeutic'
By Francine Medina
Freshly Brewed
Growing our own food is a topic that literally hits home especially when climate change and sustainability are growing realities that directly affect everyone’s life and survival. In a recent episode of “Freshly Brewed,” BusinessMirror’s digital show, the benefits of aquaculture and its potential in futureready living becomes an inspiring food for thought as aquaculture expert, Dr. Arlyn Mandas, sits down with Science reporter Bless Aubrey Ogerio for a lively discussion on the topic.
Besides being a consultant, Dr. Mandas is also the operator and manager of her aquaculture farm in General Santos City called Saxonylyn Scifish Farm in Barangay Conel. Her passion for aquaculture, however, wasn’t in her in the beginning. She confessed that although she signed up for a BS Fisheries course at the Mindanao State University (MSU), it was due to a scholarship that was granted to her.
“Eventually, however, I started to love my course,” Dr. Mandas told Ogerio.
After college, Dr. Mandas pursued further studies, earning her MA in BS Fisheries in UP Visayas and her doctorate degree, also in BS Fisheries in the same state university. She has also been teaching at MSU for almost 25 years.
Recognizing her extensive knowledge in the field, the Department of Science and
Technology tapped Dr. Mandas as consultant for its Agricultural Enhancement Program in Regions 11 and 12.
“The goal of that program was to improve the productivity of the fish farmers,” she replied.
“I go to the farms of the beneficiaries. It’s free consultation. Actually, it’s expensive to hire a consultant so the program helps the small farmers.”
‘More fish than water’ model
As a teacher of fisheries and for exposure, Dr. Mandas would bring her students to fish farms.
But at that time, she explained, “I promised myself I’ll never eat catfish again because I saw that the process was unhygienic. If you don’t have the stomach for it, you’ll really throw up because it was dirty. That was the
problem with the catfish industry. It’s been a long time but for me, I could say that it really hasn’t taken off. With the depth of knowledge that I’ve gained from my experiences, I felt that the catfish industry is like gold that’s being ignored and just kicked around.”
Her observation inspired her to think of a solution that would help innovate raising catfish in the country. She continued, “That’s why I decided to further study the industry so we can further address the problems in raising catfish and remove that negative notion about them. That the fish is dirty and isn’t fit to be consumed by humans.”
Dr. Mandas came up with a unique solution that was against the traditional way of raising fish in ponds and cages. “The More Fish Than Water is a tool to my farming concept, which is farming without a farm. If you look at statistics, about 80 percent of the households in the Philippines don’t have farms. There is a limited number of Filipinos who have farms,” she commented.
“And aside from that, we know the population is expanding and food production is shrinking. I told myself that I have to come up with a concept that will utilize the small areas in our households. If more than 80 percent do not have farms and if the majority of them
have a house and lot, then I would like to come up with a technology that will allow these households to grow fish in a limited space.”
At the same time, Dr. Mandas didn’t just envision a tool that would only provide 30 to 40 fish for the household. She wanted to create a solution that would also become a source of living for its owners. In her research and development endeavor, Dr. Mandas studied mud ponds and compared them with fish tanks.
“If you do it in mud ponds, that would entail a large area. Again, Filipinos don’t have that much space. What I wanted was for them to use spare areas in their lots and turn them into a fish production area with the use of my More Fish Than Water technology,” she concluded.
The result was a simple mechanism that consisted of a tank, water, and fish. Plus, a feed that is halal. “Because I want to raise halal catfish,” she said, especially since her farm was in Gen San that has an Islam population. Catfish or hito, is known as a healthy source of protein and is rich in minerals and vitamins. It is a popular fish used in many dishes in the area.
The fish tank, according to Dr. Mandas, is less than two cubic meters. It is 1.5 meters in diameter, and a height of 1.2 meters.
“If you raise catfish in a mud pond, you can
only harvest 20 to 40 pieces and stack only a few kilograms of the fish.”
“But in my case, I can harvest half a ton of fish. It’s like stacking then increasing the production of fish. So, if the household has a spare five-square meter area, then they can harvest a big amount of catfish,” she said.
Fun and therapeutic
Dr. Mandas says her More Fish Than Water technology is efficient and easy to operate. It had to be, she commented, “When I developed the technology, I had in mind the retirees but not retired because here in the Philippines, when you say retired, you think of unproductive individuals who are more focused on their various ailments.”
“This technology is friendly to old folks because it’s entertaining and therapeutic especially when you are feeding the fish.” At the same time, Dr. Mandas said that she also thought of young people when she invented the tool. “I also wanted to address the youth because it’s been observed that after school, they tend to be busy with their gadgets.”
“I would like them to develop a love for fish farming at their early stage. I want them to be interested in food production. I didn’t have
that passion, too, when I enrolled in Fisheries because I didn’t have any idea what the course was all about.”
“I want kids to know how fun and entertaining it is to culture and feed the species in my More Fish Than Water tool. It’s so easy.” The technology is far from boring, Dr. Mandas said. She shared the story of a visit by a doctor-friend and her 11-year-old son at her farm.
“While the mother and I were having coffee, the boy was moving around and inspecting the tanks. When he went home, he expressed his interest in fish farming and asked her mother to buy him fish tanks.”
Dr. Mandas continued, “He got four tanks and after school, would feed the catfish. After two and a half months, the school of fish grew fast and weighed half kilo, 600 to 700 grams. Now, the boy comes from a family of doctors. And when I visited his mom and him to harvest the fish, he said, Tita, I’ll not be a doctor of humans. I’ll be a doctor of fish.’”
Delighted by the boy’s comment, she encouraged him to consider being a fisheries scientist because there are only a few such scientists in the country.
Dr. Mandas’ invention for food production has led her to speaking engagements among her peers and farm advocates. Through her palpable passion for innovation, Dr. Mandas is helping to uplift public perception about farming and farmers in general.
“My advice to the government is that if they’ll be coming up with technologies, they have to make it easier to operate. It should be fun especially for kids. When you mention aquaculture or agriculture, people still think it’s dirty. It shouldn’t be that way.” National Finalist for the Department of Agriculture's Gawad Saka 2025, Dr. Mandas noted that
Dr. Arlyn Arreglado Mandas, Aquaculture Consultant of the Department of Science and Technology and owner of Saxonylyn Scifish Farm, talks about the "More Fish Than Water" technology of raising catfish with Bless Aubrey Ogerio, BusinessMirror's Science reporter.
Dr. Arlyn Arreglado Mandas, Aquaculture Consultant of the Department of Science and Technology and owner of Saxonylyn Scifish Farm Bless Aubrey Ogerio, BusinessMirror's Science reporter
Editor: Jennifer A. Ng
BJ Mercantile to distribute Vietnam’s Thaco bus, trucks
By VG Cabuag @villygc
BJ MERCANTILE Inc., a 50-year-old domestic firm that specializes in the distribution of commercial trucks and buses, has partnered with Vietnamese automotive firm Thaco Auto (Truong Hai Group Corp.) to bring in completelybuilt units into the country.
Under a memorandum of understanding signed last Thursday, BJ Mercantile will become the official sales, service and parts distributor of Thaco trucks and buses in the Philippines, marking the Vietnamese brand’s official entry into the country.
“When we got to visit the (Thaco) factory (in Vietnam), I was very, very impressed with the facilities of Thaco and that’s where it all started,” Leilani Lim Tan, BJ Mercantile’s vice president, said. “I felt that they would be the, the perfect partner for us in terms of the quality products that we are looking for. I believe that they will be the perfect partner for us in
terms of the professionalism that they, that they have shown.”
Tan said they will bring in 8.5 meter, 11-meter and 12-meter Thaco buses in the Philippines and also the light and medium trucks.
The signing of the agreement comes after President Donald Trump announced a 46-percent tariff on imports from Vietnam.
She added that the re-fleeting of local bus companies usually starts at the start of the year, so the country may start seeing Thaco-branded buses plying the city roads by next year.
“The market changes by the day. I would say that comparing to [the] pre-pandemic [period], the market
right now is still fairly slow, even after you know it is [the] year 2025; probably the third full year that we have come out of the pandemic,” Tan said.
“On the truck side, if we’re talking about the logistics side, meaning the smaller trucks, those are moving okay. But if we talk about the bigger trucks, those are a little bit still on the slow side. On the bus side, actually, I’m very happy that the buses have been moving quite well,” she said.
From its modest beginnings in 1974 as an importer of used engines and trucks, BJ Mercantile has grown into a company with interests spanning automotive, logistics, real estate, petroleum, cold storage and marine transport.
This new development enables BJ Mercantile to continue to expand its presence in the commercial vehicle space by offering more choices to its customers.
Over the years, it has built a reputation for after-sales service, technical expertise and strong relationships.
Thaco, meanwhile, was founded in 1997. It is currently a dominant player in Vietnam’s automotive industry and one of Southeast Asia’s largest auto manufacturers.
Its Chu Lai Truong Hai Industrial Complex is considered among the
Cmost advanced automotive manufacturing hubs in the region, capable of producing a wide range of vehicles from light-duty trucks to full-sized buses and passenger cars.
Doan Dat Ninh, Thaco Auto vice president, said the company has focused on developing Vietnamesebranded automotive products, particularly its buses, with a localization rate that has now reached over 70 percent.
“The products have not only conquered the domestic market but [have] also been exported to ASEAN countries, including the Philippines—a highly potential market with a well-defined public transportation system modernization roadmap. At the end of 2019, we exported our first batch of buses to the Philippines, which were well-received by customers for their design and quality,” Doan said.
Thaco’s lineup of trucks and buses, built using durable and efficient Chinese chassis platforms, are known for their practicality, fuel efficiency and competitive pricing. The company said it is a perfect match for the Philippines’ growing logistics, construction and transport sectors.
BJ Mercantile’s brand portfolio include the Scania, the Ashok-Leyland, Fuso and Hongqi.
Meralco to post ‘slightly higher’ sales
By Lenie Lectura @llectura
HE Manila Electric Co.
T(Meralco) may report
“slightly higher” electricity sales during the first half of the year versus the same period a year ago, an official said over the weekend.
“There is no final numbers yet but it might be flat or slightly lower than our all-time high June 2024 month gigawatt hour (GWh) num -
Anker bares power bank units’ recall
HOME charging and energy storage firm Anker Innovations Technology Co., Ltd., has announced global voluntary recall of certain power bank models including particular models sold in the Philippines.
Anker’s advisory comes amid the issue on lithium-ion battery cells sourced from a third-party vendor, which it said may overheat under certain conditions and pose fire and burn hazards.
The power bank maker said while the probability of malfunction is low, Anker has chosen to recall select Anker power bank models worldwide “out of an abundance of caution and commitment to its customers’ safety.” In a statement the company issued over the weekend, Anker said the affected products are: Anker Power Bank (10K, 22.5W) Model A1257; Anker Power Bank (20K, 22.5W, Built-In USB-C Cable)—Model A1647; Anker Zolo Power Bank (20K, 30W, Built-In USB-C and Lightning Cable)—Model A1681 and Anker Zolo Powerbank (20K, 30W, Built-In USB-C Cable) –Model A1689. Andrea San Juan
ber,” Meralco Senior Vice President and Chief Revenue Officer Ferdinand O. Geluz said referring to energy sales for June. With this, we forecast our first half 2025 to be slightly higher than lastg year by just around 120 to 130 GWh than 2024, Geluz added. In the first quarter of the year, Meralco reported an energy sales volume of 12,493 GWh, up 1.5 percent from 12,307 GWh in the quarter a year ago.
For May, sales volume stood at 4,929GWh.
Geluz is optimistic that energy sales for the succeeding months will continue to pick up.
This expectation may eventually lead to attaining its 4.5-percent increase in target energy sales for the year.
The target is to close the year with at least 56,000MWh in energy sales. Of which, Clark Electric Distribution Corp., which is 65-percent owned by
Meralco, is expected to contribute an additional 700 GWh. Geluz is confident that the numbers will be achieved as Meralco anticipates a better economy from lower inflation and interest rates, recovery in occupancy in real estate, and higher consumer spending during mid-term elections.
In 2024, Meralco’s energy sales volume jumped 6.4 percent to 54,325 GWh from 51,044 GWh in 2023.
InDrive units made available at PITX
TBy Rizal Raoul S. Reyes @brownindio
HE operator of the Para
-
ñaque Integrated Terminal Exchange (PITX) announced last Friday of entering into a partnership with RL Soft Corp. (InDrive Philippines) to “provide greater convenience to passengers and higher income to drivers.”
According to Mohit Malhi, chief executive advisor at MWM Terminals Inc., the partnership is in line with the PITX operator’s “rethinking how technology can meet on-ground needs.”
“This partnership supports our vision of modernizing transport and prioritizing the safety and welfare of our passengers,” Malhi was quoted as saying in a statement.
inDrive PHL Business Development Head Sofia Guinto said the establishment of a booth for the company is expected to provide passengers with “greater mobility.”
“We’ve always believed that mobility is a right, not a privilege,” said Guinto. “Right from the start, our mission has been to give both passengers and drivers a fair and stronger voice. This partnership with PITX marks more than just a booth—it represents a movement.
A movement toward mobility that listens, includes and empowers.”
The PITX, which served over 50 million passengers in 2024, continues to serve high volumes of foot traffic, maintaining its role as a vital transport hub in the metro.
Guinto said the presence of inDrive at the terminal directly responds to the growing commuter demand by offering rides from PITX to any point in Metro Manila and areas identified by the “Metro Manila Urban Transportation Integration Study Update and Capacity Enhancement” program. These areas include Cavite and Laguna.
Guinto said inDrive passengers can also enjoy enhanced convenience through a dedicated pickup area and priority dispatch from standby drivers on-site—reducing wait times and improving ride availability.
Last-mile connectivity infrastructure, which refers to the final phase of a journey, plays an important role in a transport terminal as it provides efficiency, smooth user experience, and overall success. It refers to the final leg of a journey. It refers not only to people but goods being transported from a hub to their final recipient.
When the “last-mile problem”
is addressed, experts said public transportation becomes a more attractive and viable option. If people can easily reach and leave a terminal, they are more likely to choose public transport over private vehicles.
Moreover, the experts said effective last-mile solutions can reduce the need for private vehicles to access terminals, alleviating traffic congestion in surrounding areas and parking issues at the terminal itself.
An efficient last-mile connectivity also ensures that people with disabilities, the elderly, and those with limited mobility can comfortably and safely reach and depart from transport terminals.
Last-mile connectivity also grants easier access to terminals that can boost local businesses by increasing foot traffic and making the area more attractive for commuters and tourists.
The collaboration between PITX and inDrive also reinforces the role of public-private partnerships in addressing longstanding transport challenges such as accessibility, commuter safety, and transport equity, read the company’s statement.
The inDrive booth will be located at the Podium Building Taxi Bay Area and was opened to the public on June 26.
ENTURY Pacific Food Inc. (CPFI), one of the largest branded-food companies in the Philippines, said it is set to roll back its prices on its sardine products Ligo and 555 Sardines to help ease the burden on consumers amid “economic uncertainty.”
“There will be a P1.00 rollback per can on all Ligo and 555 sardines starting July 1, 2025,” CPFI said in a statement issued over the weekend.
“In our small way, Ligo and 555 brands want to ease the burden on consumers and support them during these times,” Ronald M. Agoncillo, Vice President and General Manager of CPFI sardines said.
Agoncillo said cost-effective actions, such as the firm’s continuous efforts to maximize the value chain, working with different communities, and alignment with stakeholders, allowed the CPFI to give “maximum value” to its customers while maintaining “high product quality standards.” Last week, the Department of Trade and Industry (DTI) said canned sardines manufacturers have assured consumers that there will be no movement in the price of their products, after consumers expressed concern over a potential P3-hike on the essential food item.
T he DTI made the pronouncement after Trade and Industry Secretary Cristina A. Roque met last Monday with members of the Canned Sardines Association of the Philippines (CSAP) led by Chattrade, Mega Prime Foods
Inc., PERMEX, Universal Canning Inc. and CPFI.
The Trade department said the dialogue was prompted by news reports that the industry was planning to request an increase in the suggested retail price (SRP) of a 155 gram can of sardines from P21 to P24, citing rising production costs. The DTI, through its Fair Trade Group (FTG), confirmed that it had not yet received a formal petition for a price adjustment but initiated the meeting to “proactively” address the issue.
“We appreciate the industry’s commitment to the Filipino consumer, especially with the economic pressures families are facing today,” Roque said. (See: https://businessmirror.com. ph/2025/06/24/dti-says-cannedsardine-makers-committed-not-tohike-prices-for-now/)
In a message sent to the BusinessMirror over the weekend, however, CSAP Executive Director Francisco J. Buencamino said the last time the industry group filed a formal petition was in 2023 “but was not acted on.” “We were instead ordered to hold back any increase. This was repeated in 2023 and now June 2025,” Buencamino told the BusinessMirror.
A sked if it’s urgent to increase the prices of canned sardines amid the oil price hikes caused by the war between Israel and Iran, the CSAP Executive Director said: “Yes, more so because the supply of oil for fuel will undoubtedly be interrupted from Iran.” Andrea San Juan
NG already raised half of its full-year borrowing program
By Reine Juvierre S. Alberto @reine_alberto
THE national government has already raised half of its full-year borrowing program as of the end of May, having locked in funding ahead of volatility and fiscal pressures.
Latest data from the Bureau of the Treasury (BTr) showed gross borrowings reached P1.327 trillion as of end-May, down by 6.67 percent from P1.422 trillion in the same period a year ago.
The amount borrowed during the five-month period constitutes 52.14 percent of the government’s P2.545trillion full-year financing plan.
“Raising half of the full-year borrowing program may indicate that the national government is frontloading its financing strategy amid lingering global uncertainties and volatile interest rates,” Philippine Institute for Development Studies
(PIDS) Senior Research Fellow John Paolo R. Rivera said. Broken down, the government raised P1.021 trillion from domestic lenders as of end-May, lower by 12.73 percent compared to the P1.170 trillion borrowed a year ago.
Domestic debt consisted of P629.158 billion generated from fixed-rate Treasury bonds (T-bonds), P300 billion from fixed-rate Treasury notes and P92.410 billion from Treasury bills (T-bills).
Meanwhile, foreign borrowings rose to P305.939 billion in the five-month period, higher by 21.54 percent year-on-year from
P251.712 billion.
Of the amount, P191.965 billion came from global bonds, while program loans and project loans amounted to P85.2 billion and P28.774 billion, respectively.
Rivera said by frontloading borrowings, the government is wielding a “proactive approach,” securing funding while market conditions are still relatively favorable.
In May alone, gross borrowings dropped by 25.85 percent yearon-year to P192.305 billion from P259.334 billion on lower external debt.
Borrowings from foreign lenders plummeted by 95.10 percent in May 2025 to P6.247 billion from P127.613 billion in May 2024.
Only P6.247 billion from project loans were raised during the month.
Meanwhile, local debt grew to P186.058 billion in May, up by 41.25 percent from P131.721 billion a year ago.
T-bonds generated P159.758 billion for the government, while T-bills contributed P26.3 billion.
In the second half of the year,
Rivera said a “more measured” approach can be seen from the government, particularly if disbursement needs taper or if external financing conditions become less attractive.
“Slower revenue growth means a tighter fiscal space, so the government is likely pacing its borrowings carefully to balance liquidity needs with debt sustainability,” Rivera said.
The government has set its revenue target this year to P4.520 trillion, slightly lower by 2.67 percent than its previous goal of P4.644 trillion.
With expenditures amounting to P6.082 trillion, this leaves the government with P1.561 trillion in fiscal deficit.
The government borrows to finance its spending requirements as well as to cover its budget deficit. The budget deficit widened by 29.41 percent year-on-year to P523.9 billion as of end-May.
The government’s outstanding debt climbed to a new record of P16.752 trillion as of end-April, 11.56 percent higher than the P15.017 trillion in the same period last year.
Salceda offers way to fulfill delayed ODA projects
CORPORATE executives, government leaders and the public at large have expressed cautious enthusiasm about the significant promise of artificial intelligence (AI). And with good reason: this transformative technology has the potential to drive economies, boost cost efficiencies and improve the quality of life throughout our society.
At the same time, many have pointed to the pitfalls at play with AI. Both the public and private sectors must consider the inherent ethical and legal risks of AI to ensure its safe and lawful use. Legal teams should also do their part to balance the opportunities against the risks. Applying a trustworthy approach to AI adoption will be crucial not just for compliance. Customers and users increasingly require that companies they deal with guarantee their basic rights and explain clearly how AI will augment services or products. By taking a proactive approach, leaders of legal departments can position their organization and inspire confidence in the market. The coming years are expected to be pivotal for AI, with significant developments on the horizon in both AI innovation and regulation.
and compliance control, regulatory oversight and more.
Embedding accountability will likely require in-house teams to develop new skillsets not only to understand and make the most of AI capabilities, but also to identify and assess the associated risks. The future will see the roles of in-house legal professionals augmented by AI, and parts of every job are likely to be supplanted or supplemented by the technology. It is undoubtedly a good moment to redefine the role of corporate legal teams and the legal profession at large, and to establish how they will make the most of AI. Legal teams should actively participate in defining the digital transformation and innovation strategies of their organizations. They should also reimagine their operating and management models to optimize processes and efficiencies, as well as to provide greater strategic corporate value.
By Jovee Marie N. Dela Cruz @joveemarie
AN economist-lawmaker has proposed a new strategy to fast-track the implementation of nearly P1-trillion worth of delayed Official Development Assistance (ODA) projects, emphasizing the need for faster and more costeffective project delivery.
Citing the “2024 ODA Portfolio Review,” House Committee on Ways and Means Chairman Joey Sarte Salceda noted that the country’s active ODA portfolio stands at $39.61 billion, with $24.81 billion—or over 60 percent—allocated to infrastructure.
“This administration has secured the financing and set the vision. Now the work is to deliver results faster and more cost-effectively,” Salceda said.
According to the report, 72 percent of ODA projects approved by the Investment Coordination Committee (ICC) are delayed, with average setbacks of nearly 39 months. Salceda said this covers around P1-trillion worth of programs that are already funded and approved but have yet to gain full momentum.
“These are not proposals on paper. They are ongoing projects with real economic and social returns
once completed. The goal now is to help the government finish them sooner,” he said.
Accelerate
TO accelerate implementation, Salceda proposed the institutionalization of a Project Readiness Index (PRI)—a technical scoring system designed to assess a project’s preparedness based on several criteria such as right-of-way acquisition, completion of detailed designs, procurement progress, budget programming, and project management staffing.
“We proposed the adoption of a PRI to support the government’s commitment to infrastructure delivery and fiscal responsibility. The PRI would help [the] DEPDev [The Department of Economy, Planning and Development], DBM [Department of Budget and Management], and DOF [Department of Finance] sequence disbursements, budget releases, and technical support based on implementation readiness,” he said.
The PRI, he added, would assess factors such as site readiness, design maturity, procurement status, budget alignment, and project management capacity. By using this tool, the government can identify which projects are implementation-ready and which need more preparation.
“The Readiness Index will help the government identify which projects can be accelerated now and which ones need more preparation. It will also help guide the timing of budget releases and technical support,” Salceda explained.
Waste THE lawmaker emphasized that the PRI could also help reduce unnecessary fiscal costs, particularly idle debt charges. Since 2015, the government has incurred $ 59.74 million in commitment fees for undisbursed loans, with $ 16.80 million paid just last year.
“The PRI will support DBM’s efforts to align budget releases with actual implementation capacity. In 2024, over 90 percent of loan-related requirements were placed under unprogrammed appropriations—this is a signal that we need better readiness assessments,” he said.
With clearer readiness data, Salceda noted, the government can more confidently program budgets while agencies can push for appropriations based on solid groundwork.
NEP
SALCEDA proposed that the DBM, the DOF and the DepDev jointly pilot the PRI for the “2026 National Expenditure Program” (NEP).
He said he would recommend the adoption of the strategy to the Development Budget Coordination Committee (DBCC) for possible implementation in the 2026 budget cycle.
Salceda also suggested incorporating readiness scores in the annual ODA Portfolio Review and encouraging implementing agencies to use the index to better plan project phasing and support.
“The Readiness Index will help the government identify which projects can be accelerated now and which ones need more preparation. It will also help guide the timing of budget releases and technical support,” he explained.
The report indicated that the government paid $ 16.80 million in commitment fees last year because of undisbursed loan funds. Salceda said this figure underscores the need for better alignment between financing and delivery.
He emphasized that the proposal is not meant to delay project approvals but to complement the administration’s Build Better More program by ensuring that commitments turn into completed projects.
“This proposal is not meant to block or delay approvals. It is meant to support [the] ‘Build Better More’ [approach] by turning commitments into completions,” he said.
GoTyme Bank partner in Time’s influential firms list PDIC backs
THE Tyme Group, a major shareholder of the GoTyme Bank Corp. in the country, has made it onto Time magazine’s 2025 list of the “100 Most Influential Companies in the World.”
This year’s list places Tyme Group, which started in South Africa and now based in Singapore, among a prestigious group that include Apple, Microsoft, Nubank, OpenAI, Moderna, Patagonia and TikTok. This highlights Tyme’s emergence as a retail banking leader with a mission to serve entire national populations, a statement by the company read.
“Tyme Group’s unusual multicountry growth trajectory has been fueled by a simple idea: meet underbanked individuals where they already are. Eschewing brickand-mortar branches, the company places its banking kiosks in the retail stores prospective custom -
ers already know and trust,” the magazine said.
“We believe that great retail banking should be available to everyone — not just a privileged few. Our ambition is to become one of the top retail banks in every market we serve, by combining intuitive technology with real-world reach,” Coen Jonker, CEO and co-founder of Tyme Group, was quoted in the statement as saying. “This acknowledgment from Time recognizes that our model of inclusive, populationscale digital banking can be both commercially powerful and socially transformative.”
The Tyme Group currently has over 17 million customers across its portfolio of countries. In the Philippines, it operates a digital bank with the Gokongwei Group. It also has TymeBank in South Africa, which has become one of the fastest-growing retail banks on
the continent, with over 11 million customers.
Indonesia marks Tyme’s next major growth market, with the group having launched its merchant lending platform this year and now actively planning to enter the market with a retail bank.
Hong Kong, meanwhile, is Tyme’s newest footprint with the receipt of a moneylender’s license and a new partnership for merchant lending will be announced this month.
The company reached unicorn status in late 2024 following a $250 million Series D capital raise led by Latin America’s Nubank.
Tyme is now backed by a global coalition of investors including the Gokongwei Group, Nubank, Tencent, British International Investment, African Rainbow Capital, Apis, M & G Catalyst, among other leading impact investors.
STATE deposit insurer Philippine Deposit Insurance Corp. (PDIC) reaffirmed its commitment to support banks through major reforms aimed at reinforcing depositor confidence, financial inclusion, and institutional strength across the rural banking sector.
In his message during the “68th Charter Anniversary Symposium” of the Rural Bankers Association of the Philippines (RBAP) recently held in Tagaytay City, PDIC President and CEO Roberto B. Tan lauded rural bankers for embracing the theme “Strength in Numbers, Leave No Bank Behind,” and expressed support for the association’s mission to ensure the resilience of the rural banking sector.
Central to Tan’s address was the announcement of the increase in the maximum deposit insurance coverage
Technological advancements in AI continue to drive innovation and reshape industries. The development of general purpose AI (GPAI) models has raised new challenges and opportunities. These models, capable of performing a wide range of tasks, require robust risk management and technical documentation to ensure safe and effective deployment. The EU AI Act’s provisions for GPAI models highlight the need for detailed summaries of training data and ongoing monitoring to maintain accuracy and reliability.
A challenge among departments seeking to make the most of GPAI models is the need to ensure that data inputted into AI is suitably digitized, cleansed and curated to maximize output quality—which can take time, money and skill. Those using thirdparty models need to consider whether models pulling data from the internet are suitably reliable and don’t produce biased or misleading results.
Using AI in general, and Gen AI in particular, will improve how law firms and in-house legal teams work—making them more efficient, more agile and potentially more profitable. It will also unlock more time for them to contribute greater value to their organizations, while mitigating the legal risks
Many use cases are already being widely implemented using Gen AI, such as legal drafting, contract management and monitoring, legal risk
A Philippine perspective IN the Philippines, the use of AI in legal processes is gradually expanding. Applications include legal research, document review, case management, and administrative functions. These developments aim to improve efficiency and access to justice, while maintaining the integrity and ethical standards of the legal profession.
“AI is a powerful tool that, when implemented responsibly, can support greater efficiency in legal services,” said Technology Consulting Principal and Data, AI & Innovation Lead Doris B. Pastoriza. “It is not about replacing people but about enabling better outcomes through human-AI collaboration.”
For more information, you may reach out through ph-kpmgmla@ kpmg.com , social media or visit www. home.kpmg/ph.
This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent the BusinessMirror , KPMG International or R.G. Manabat & Co.
(MDIC) from P500,000 to P1 million per depositor effective March 15, 2025.
The increase, the first in 16 years, will now fully insure 99.8 percent of all deposit accounts in rural banks based on deposit data as of end December 2024.
He said that the recent policy initiative was both timely and essential, supported by data, a methodology recommended by the World Bank, and international best practices. This was also made possible by the amendment of the PDIC Charter in 2022, granting authority to its Board to adjust the MDIC to an amount indexed to inflation or in consideration of other economic indicators as it deems appropriate.
Tan also announced that the PDIC is set to propose legislative reforms to enhance the effectiveness of the deposit insurance system. The legisla-
tive proposal includes the expansion of insurance protection beyond traditional bank deposits. He said that the PDIC is conducting consultations with financial regulators and stakeholders in developing this inclusive policy move which will require a phased feasibility study. Differentiated coverage limits are also being considered under the proposal to further reinforce financial stability. Complementing these key policy shifts are the implementation of intensified financial literacy advocacies such as the PDIC’s “Be a Wise Saver” program and its upcoming “Be an Empowered Saver” campaign aimed at educating the public on depositors’ rights and promoting informed financial decision-making, especially in the face of rapidly evolving digital financial services.
Trump’s Big Bill, big costs: What’s at stake
TABy Lisa Mascaro & Kevin Freking
The Associated Press
some 940-pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations. Now it’s up to Congress to decide whether President Donald Trump’s signature domestic policy package will become law.
Trump told Republicans, who hold majority power in the House and Senate, to skip their holiday vacations and deliver the bill by the Fourth of July.
Senators were working through the weekend to pass the bill and send it back to the House for a final vote. Democrats are united against it.
Here’s the latest on what’s in the bill. There could be changes as lawmakers negotiate.
Tax cuts are the priority
REPUBLICANS say the bill is crucial because there would be a massive tax increase after December when tax breaks from Trump’s first term expire. The legislation contains roughly $3.8 trillion in tax cuts. The existing tax rates and brackets would become permanent under the bill. It temporarily would add new tax breaks that Trump campaigned on: no taxes on tips, overtime pay or some automotive loans, along with a bigger $6,000 deduction in the Senate draft for older adults who earn no more than $75,000 a year.
It would boost the $2,000 child tax credit to $2,200 under the Senate proposal. Families at lower income levels would not see the full amount.
A cap on state and local deductions, called SALT, would quadruple to $40,000 for five years. It’s a provision important to New
York and other high tax states, though the House wanted it to last for 10 years.
There are scores of businessrelated tax cuts.
The wealthiest households would see a $12,000 increase from the legislation, which would cost the poorest people $1,600 a year, according to the nonpartisan Congressional Budget Office analysis of the House’s version.
Middle-income taxpayers would see a tax break of $500 to $1,500, the CBO said.
Money for deportations, a border wall and the Golden Dome
THE bill would provide some $350 billion for Trump’s border and national security agenda, including $46 billion for the US-Mexico border wall and $45 billion for 100,000 migrant detention facility beds, as he aims to fulfill his promise of the largest mass deportation operation in U.S. history.
Money would go for hiring 10,000 new Immigration and Customs Enforcement officers, with $10,000 signing bonuses and a surge of Border Patrol officers, as well. The goal is to deport some 1 million people per year.
The homeland security secretary would have a new $10 billion fund for grants for states that help with federal immigration enforcement and deportation actions. The attorney general would have $3.5 billion for a similar fund,
known as Bridging Immigrationrelated Deficits Experienced Nationwide, or BIDEN, referring to former Democratic President Joe Biden.
To help pay for it all, immigrants would face various new fees, including when seeking asylum protections.
For the Pentagon, the bill would provide billions for ship building, munitions systems, and quality of life measures for servicemen and women, as well as $25 billion for the development of the Golden Dome missile defense system. The Defense Department would have $1 billion for border security.
How to pay for it? Cuts to Medicaid and other programs
TO help partly offset the lost tax revenue and new spending, Republicans aim to cut back some long-running government programs: Medicaid, food stamps, green energy incentives and others. It’s essentially unraveling the accomplishments of the past two Democratic presidents, Biden and Barack Obama.
Republicans argue they are trying to rightsize the safety net programs for the population they were initially designed to serve, mainly pregnant women, the disabled and children, and root out what they describe as waste, fraud and abuse.
The package includes new 80-hour-a-month work requirements for many adults receiving Medicaid and food stamps, including older people up to age 65. Parents of children 14 and older would have to meet the program’s work requirements.
There’s also a proposed new $35 co-payment that can be charged to patients using Medicaid services.
Some 80 million people rely on Medicaid, which expanded under Obama’s Affordable Care Act, and 40 million use the Supplemental Nutritional Assistance Program. Most already work, according to analysts.
All told, the CBO estimates that under the House-passed bill, at least 10.9 million more people would go without health coverage and 3 million more would not
qualify for food stamps.
The Senate proposes a $25 billion Rural Hospital Transformation Fund to help offset reduced Medicaid dollars. It’s a new addition, intended to win over holdout GOP senators and a coalition of House Republicans warning that the proposed Medicaid provider tax cuts would hurt rural hospitals.
Both the House and Senate bills propose a dramatic rollback of the Biden-era green energy tax breaks for electric vehicles. They also would phase out or terminate the various production and investment tax credits companies use to stand up wind, solar and other renewable energy projects.
In total, cuts to Medicaid, food stamps and green energy programs would be expected to produce at least $1.5 trillion in savings.
Trump savings accounts and so, so much more
A NUMBER of extra provisions reflect other GOP priorities.
The House and Senate both have a new children’s savings program, called Trump Accounts,
with a potential $1,000 deposit from the Treasury.
The Senate provided $40 million to establish Trump’s longsought “National Garden of American Heroes.”
There’s a new excise tax on university endowments, restrictions on the development of artificial intelligence and blocks on transgender surgeries. A $200 tax on gun silencers and shortbarreled rifles and shotguns was eliminated. One provision bars money to family planning providers, namely Planned Parenthood, while $88 million is earmarked for a pandemic response accountability committee.
Billions would go for the Artemis moon mission and for exploration to Mars.
The bill would deter states from regulating artificial intelligence by linking certain federal AI infrastructure money to maintaining a freeze. Seventeen Republican governors asked GOP leaders to drop the provision. Also, the interior secretary would be directed to sell certain Bureau of Land Management acreage to provide for housing. The sale of public lands would cover at least 600,000 acres and up to 1.2 million acres, according to a projection from the Center for Western Priorities, a conservation group.
What’s the final cost?
ALTOGETHER, keeping the existing tax breaks and adding the new ones is expected to cost $3.8 trillion over the decade, the CBO says in its analysis of the House bill. An analysis of the Senate draft is pending.
The CBO estimates the Housepassed package would add $2.4 trillion to the nation’s deficits over the decade. Or not, depending on how one does the math.
Senate Republicans are proposing a unique strategy of not counting the existing tax breaks as a new cost because those breaks are already “current policy.” Senators say the Senate Budget Committee chairman has the authority to set the baseline for the preferred approach.
Under the Senate GOP view, the tax provisions cost $441 billion, according to the congressional Joint Committee on Taxation. Democrats and others say this is “magic math” that obscures the true costs of the GOP tax breaks. The Committee for a Responsible Federal Budget puts the Senate tally at $4.2 trillion over the decade.
PRESIDENT Donald Trump speaks to the media, Friday, June 27, 2025, in the briefing room of the White House in Washington. AP/JACQUELYN MARTIN
The enchanting costumes of ‘Encantadia Chronicles: Sang’gre’
A
future without fear: Meditation teacher demystifies modern man’s No. 1 disabler
By Emmie G. Velarde
AUSTRALIAN yogi and meditation teacher Charlie Hogg recalls visiting a friend’s mother who was terminally ill.
“Inside her room, it was dark and very quiet,” Hogg relates. “I took a nearby seat, slowly, so as not to disrupt the silence. But she suddenly said, ‘I love you, Charlie.’ That was totally uncharacteristic of her; she was a sweet and kind lady, but she rarely spoke.”
And then, unprompted, the sick woman explained, “When I learned that I was not going to survive this, I decided I might as well be the person that I always wanted to be. I have started by expressing my affections, which was not easy for me all my life.”
Hogg, Sydney-based national coordinator of Brahma Kumaris (BK Spiritual University) Australia and a ranking member of the India-based BK International Coordinating Group, was no stranger to any person experiencing a profound change of heart. Yet, what he heard had a huge impact on him.
He couldn’t help wondering, “How long can people live in fear of letting their feelings show, or of being seen as vulnerable if they so much as conveyed love? How many are able to conquer that fear, and decide—just like that—to at last become the persons they always wanted to be?” THE WAY OUT
FEAR in its many forms and aspects—and the way out—is the subject of Hogg’s talk, A Future Without Fear, a free public program on Tuesday, July 8, 6:30 to 8:30 pm, at the Gateway Gallery, 5th Floor, Gateway Tower, Araneta Center, Cubao, Quezon City.
On Wednesday, July 9, he will speak in two other programs: Forgiveness: Bridging Cultures and Faiths, 9:30 to 11 am, at the BK Head Office, 7484 Bagtikan Street, San Antonio Village, Makati City. RSVP on or before July 6 via WhatsApp or Viber 09178340118. In the afternoon, 4:30 to 6 pm, the program “Stronger Inside, Happier Outside” will be held online. Details will be posted on www.facebook.com/ rajayoga.makati.
As a resource speaker, “Brother Charlie” is known to over a million Raja Yogis in 110 countries. He has tackled a wide range of perennial human dilemmas, among them the power of forgiveness, the value of compassion, loving without losing oneself, mastering one’s senses—the list seems to get longer even after his 45 years at it. Right now, he is seeing fear as the all-compassing disabler.
“Wherever we are, we turn on the evening news and it’s one scary story after another,” he says. “It’s like human beings are not safe anywhere. No wonder there are currently 500 types of listed phobias, and counting.” When fear grips the mind, he points out, the body is affected. “We experience palpitations, the stomach churns, adrenaline floods the system. We feel stressed, paranoia kicks in, and the mind starts to imagine all possible outcomes and scenarios for even the smallest problem. I can’t relax or concentrate. I can’t sleep.”
WHAT IS TRUE AND PERMANENT
OWING to nearly half a century of yoga practice, Brother Charlie takes the spiritual route to the heart of the problem.
“At the core of fear is dread of losing something. When I hold on to anything—relationships, possessions, position, property—I unwittingly create fear around it. I should understand what is true and permanent about myself, and lead my life around that one reality alone.”
Such is the mystifying premise around which his unique talk will revolve. With gentle wisdom and guided reflection, Brother Charlie will help his listeners reconnect with inner peace, trust in a higher order, and face the unknown with a stable intellect. For inquiries, call 0999-8267839. Interested parties can check out forms.gle/ bVAVn6biqCHT3v6Y7.
ENCANTADIA, the fantaserye that enchanted audiences starting in 2005, then captivated viewers with a revival in 2016, continues its mythical journey with 2025’s Encantadia Chronicles: Sang’gre.
This time, the four Sang’gres (royal-blooded encantado) who guard the gems that hold the power to maintain peace and harmony in the land, are portrayed by Bianca Umali, the keeper of the Brilyante ng Lupa (Earth Gem); Faith da Silva, the keeper of the Brilyante ng Apoy (Fire Gem); Kelvin Miranda, keeper of the Brilyante ng Tubig (Water Gem); and Angel Guardian, keeper of the Brilyante ng Hangin (Air Gem).
Now on its third week, the fans’ response has been mixed at best, with unflattering comparisons to the Squid Game, Game of Thrones or Final Destination. I just wish it was also in the vein of The Wheel of Time, or, when it comes to the sending off of beloved characters, The Walking Dead.
What receives more praise than the storytelling at this point is the costume design. Noel Flores serves as the lead visual designer, a task he also did exceptionally well in 2005 and 2016.
At the grand mediacon on June 8, the newgeneration Sang’gres recounted their experiences on their journey, while Flores, who was studying in New Zealand while most of the costumes were being manufactured, shared his creative process via e-mail:
ADAMUS: THE SLAVE PRINCE
Kelvin Miranda: “Ang isang maiiwang values sa mga manood, sa mga bagong henerasyon, ay ’yung mga bagay na makakasalamuha natin ay hindi parati na lang maganda. Kailangan i-expect din natin ang mga negative na ma-e-encounter natin lalo na ’yung magdadala sa atin sa kabutihan. Sa pagtuto natin sa mga kasalanan, sa mga pagkakamali natin, dun tayo matututong lumaban ng patas, na maging matapang at maging better persons.”
Noel Flores: “Adamus is not just a child of Lireo through Alena; he is more a child of Adamya, being the son of a chieftain of Gunikar. His existence means Adamya shall flourish and will rise as a stronghold for all magical fauna and flora of Encantadia.
“He inherits the pillum called Agos, which is both a sword and a short spear. He is also blessed by the Water Gem with a throwing weapon that also divides or transforms into two hand blades. The weapon is called Daluyong.”
DEIA: THE REBEL HEART
Angel Guardian: “Unang-una, gusto kong magpasalamat sa lahat sa malaking tiwala ninyo sa akin na gampanan ang character ni Deia. Until now, sobrang surreal pa rin sa akin. Hindi pa rin ako makapaniwala na nandito na ako, pinapangarap ko lang ito.
EVERY year, SM Beauty reiterates its commitment to being an ally of the LGBTQIA+ community by holding a So Much Pride event for Pride Month. It’s always a colorful and happy time filled with beauty, flamboyance, celebration and pride. For 2025, SM Beauty partnered with the country’s top beauty brands to bring the So Much Pride campaign to life.
Among the personalities who graced the SM Beauty So Much Pride 2025 launch at SM North Edsa were digital creators AC Soriano, Sassa Gurl (for Oxecure and Snailwhite), and drag queen Precious Paula Nicole. Of course, drag queen Naia Black was present as they are the face of the So Much Pride campaign for the second straight year.
Also present were Kimtwins (OMG), MYX Chanel (BYS), Astrid Mercury (YOU), Jamie Casino (Barenbliss), Edsa Xxtra (Glamfix), and Zymbading
“Actually, never ko naisip na maging tagapangalaga ako ng brilyante. Naglalaro lang ako nung bata ako bilang Amihan . At ngayon nandito na ako, natupad ‘yung childhood dream ko.”
Flores: “Deia grew up a native of Mine-a-ve. Her mantle is a reflection of her roots fused with the elemental motifs of Air. Her weapons are a War bow with obsidian-tipped arrows. Her bow’s name is Aga-as. Her close-quarter weapons are pickaxes that are also throwing weapons. They are called Huni and Hi-aw [Hiyaw].”
FLAMARRA: THE FLAME KEEPER
Faith da Silva: “Sa totoo lang po, napakalaking obligasyon bilang maging isang Sang’gre. Siguro, ’yung nakatulong talaga sa akin ng todo-todo para di makaramdam ng pressure ay ’yung basbas ng mga OG Sang’gres. Si Ate Glaiza [de Castro, the 2016 Pirena, keeper of the Fire Gem], I really let her know that coming into this show, I was really pressured because it’s a huge obligation. Dahil ang hirap sundan ng Ada [Mother] Pirena, tama po ba? At ang naunang Pirena [Sunshine Dizon]. Ngunit si Sang’gre Flamara ay anak ni Pirena at ni Azulan. So, ibang tapang ito, ibang apoy ito.” Flores: “Flamarra’s image is a fusion of Hathoria and Punjabwe culture. The fire gem blessed her with a mantle that represents her purpose, which is to balance justice and the free spirit. She carries in her heart her mother’s guardianship or flame for justice. She also cherishes the spirit of freedom brought about by the teachings of her father, Azulan. “Her weapons are a left-hand gun blade, which is Hathorian in design, and a Punjabwe Scimitar.”
TERRA: THE CHOSEN ONE
Flores: “Her design is a direct reflection of her mother, Danaya, in a simplified way to show the energy of youth. For me, it is the passing on of responsibility. She carries the same principles, ideals, and vow or guardianship. Both Danaya and Terra are
(Careline). As the personalities and performers told their stories, they also told guests how makeup can be a powerful tool for transformation, not just in appearance, but also in confidence, identity and selflove.
While So Much Pride is an event about beauty and embracing its many forms, it is also a means to welcome members of the community and tell them that SM Beauty is a safe space.
“Beauty has always been about expression. And for many in the LGBTQIA+ community, makeup and skincare are more than routines—they are rituals of resilience, tools of empowerment, and brushes of freedom. We are proud—so proud—to be a platform that supports inclusive brands, tells real stories, and fosters safe spaces in every store and every campaign,” said Madey Dela Cruz, senior category manager for cosmetics.
SM Beauty recognizes that makeup and skincare are not just about self-care. These tools help everyone find their true self and develop their individuality. Among the beauty brands that partnered with SM Beauty for the event are BYS, Careline, BLK, HS, Teviant, Vice, Sunnies, Ready Set Glow, Squad, GRWM, Absidy, I’mma, Maybelline, Avon, Dazzle Me, Barenbliss, YOU, Glamfix, Chic Bobbie, OMG, The Body Shop, Hello Bubble, Mise en Scene, L’Oreal, Nivea, Snailwhite, Oxecure, and Freshman. This celebration is highlighted by a colorful
Mother Earth personified with steroids and ready to fight and smash any threat that endangers the world they love.
“Her weapon is called Balangis. A staff that divides and turns into arnis or kali sticks. The details on the costume are hyper-intricate and very organic, compared to the 2016 guardian costume. It was through close and periodic collaboration [via Zoom video calls] between Mersinaryo Production Services, the wardrobe department, and I that the designs for Terra’s mantle looked the way it is, which is fantastic. “
Bianca Umali: “Sa Encantadia, you can be anything you want to be. Sa Encantadia, nasa ibang mundo ka. Sa kabila ng lungkot na pinagdadaanan natin dito sa mundo, maaari kang pumunta sa Encantadia at doon magsasaya ka. Kasama mo ang iba’t ibang pashnea, iba’t ibang nilalang at mga warka.
Encantadia is for everyone. Ang Encantadia ay nasa puso nating lahat. Ito po ay para sa atin at ginawa namin para sa inyo. Ang project na ito ay hindi biro. We cannot emphasize more that it was two years of our lives creating this show. And time before that even, to start training when the project was announced to us.
“To train for this means sacrificing not just everything around us but ourselves. We sacrificed the things that we wanted to do. We sacrificed the time with our loved ones. We sacrificed dreams that we put on hold.
Gusto naming ibigay lahat ng atensyon, oras at pagod sa proyektong ito dahil ayaw naming mapahiya sa mga Encantadics na nag-aabang sa napakalaking mundo ng Encantadia.
Kelan po namin nararamdaman na kami ang mga bagong tagapangalaga ng mga brilyante? Para sa akin, pag magkakasama kaming apat. Tuwing magkakatabi kami at humaharap sa inyong lahat
“This is the most powerful feeling that we have. We may have our own brilyante at elemento. But we are the strongest when we are complete and together.”
installation at SM North Edsa until June 30. SM Beauty also wants to hear and see the stories of community members because it believes that for every face that shows up, there is a story that inspires inclusivity and confidence. Everyone is invited to participate in So Much Pride with the hashtags
NEW-
GENERATION SANG’GRES
Kelvin Miranda as Adamus, Bianca Umali as Terra, Angel Guardian as Deia, and Faith da Silva as Flammara.
RAJA Yogi Charlie Hogg has found useful ways out of fear and shares them with listeners around the world.
Veterans Bank Nets P359M in 2024; Achieves P10B Capitalization Target
Some 3,000 stockholders attended the Annual Stockholders’ Meeting (ASM) of the Philippine Veterans Bank on June 20, 2025. Simultaneous with the meeting was the elections for the Bank’s Board of Directors as well as for the members of the Board of Trustees for the Veterans (BTV).
Eulogio Catabran III, President and CEO, reported to the stockholders the 2024 net income of P359 million and announced that it has already achieved the target P10 billion capitalization requirement as of April 2025, ahead of its June 2025 commitment to the BSP.
The medium sized commercial lender primarily owned by Filipino veterans explained that its total operating income for 2024 was P3.82 billion, 13.78 percent higher than the P3.36 billion it garnered the year before and was driven mainly by interest income from the Bank’s securities investments and lending operations. At the close of 2024, the Bank’s total assets were at P73.20 billion which was 13.93 percent higher than the previous year. This was mostly driven by deposits which grew 13.78 percent to P65.47 billion from P57.54 billion in 2023. Total loans reached P27.72 billion or an 18.16 percent increase from P23.46 billion year on year.
The Bank also reported that as of the first quarter of 2025, it had already
achieved a Net Income of P114.3 million, which is on track for its full year target of P734 million. Total Assets stood at P77.6 billion as of the same period.
Catabran also announced to the Stockholders that Veterans Bank participated in the bidding for the UCPB Savings Bank with the intention of expanding its branch network.
At the end of May 2025, Veterans Bank also completed its capital buildup program and raised its capital to P10 billion as mandated by Republic Act 11597 which is also the Bank’s charter. The successful conduct of the Bank’s Stock Subscription Offer from 2023 to 2025 welcomed new investors from the private sector and from the veteran community including AFP retirees who, as stated in the Bank’s new charter, are now allowed to become shareholders of Veterans Bank.
The Bank said that the increased capitalization will strengthen its core
businesses, expand its services through digital channels and introduce new product offerings to both private and government clientele. The infusion of fresh capital will also allow it to reach out to new markets and prospective clients nationwide while strengthening relationships with its existing niche markets in the government and military sectors.
Elected to the 15-man Veterans Bank Board of Directors are the following: Gerardo Manuel Luis Anonas, Ms. Marie Josephine Diana Calatrava, Retired Vice Admiral Alberto Carlos, Eulogio Catabran III, Renato Claravall, Jofel Kristine Marie Filamor, Emmanuel Herbosa, Atty. Carlos Alfonso Ocampo, Retired Chief Justice Hon. Reynato Puno, Anthony Te, Jose Nuñez, Jr., Alfredo Panlilio, Mel Georgie Racela, Cesar Rubio and Retired Police Deputy Director General Reynaldo Velasco
9 Sulit, Satisfying Julie’s Breads Your Kids Will Love as Baon
T’S back-to-school
Iencourage
and
to finish the snack. But how do you do that? Worry not, as Julie’s, your go-to for everyday fresh and affordable breads, offers a wide range of treats that are perfect as snacktime companions for every school day. Whatever flavor your kids like best, you can count on Julie’s to offer freshly baked baon that they’ll surely finish in just a few bites.
Cheesy treats for cheese-loving kids
With its distinct and creamy taste, it’s no wonder that cheese is at the top of every kid’s favorite flavor. However, if you’re a little pressed for time in preparing cheesy treats, here are some breads that you can add to their baon:
Cheese Bread Nothing beats the classic Julie’s Cheese Bread for a cheese-loving kid. Inside the golden brown crust of this exceptionally soft bread is a flavorful serving of cheese, making it a simple yet comforting treat.
Cheese Streusel Julie’s soft Cheese Streusel offers a delightful contrast with its sweet and cheesy flavor. Its creamy and gritty topping complements the diced cheese filling that will satisfy any kid’s cheese cravings.
Milky Cheese De Sal
The all-time favorite Pinoy pandesal just got a milky and cheesy upgrade from Julie’s. This new twist on the classic pandesal retains the bread’s beloved hint of salty taste while being coated with delectable milk powder and generously filled with creamy cheese, ideal for kids and kids at heart.
Chocolatey breads for the sweet tooth
Some chocolate treats might be a little over the budget, while chocolate bars tend to melt when left too long inside a lunchbox. Consider instead these chocolatey breads:
Choco German
Children will enjoy biting into this freshly baked treat from Julie’s. Apart from its creamy chocolate filling, the Choco German is known for its generous and unique mixture of sugar and margarine as a delicious topping.
Chocolate Crinkles
The next best thing after a slice of chocolate cake is
Julie’s Chocolate Crinkles. This fudgy confection packs a rich chocolate taste in convenient bite-sized pieces. Its moist texture practically melts in every kid’s mouth, truly offering a cake-like indulgence.
Choco Mini Milky Donut
These bite-sized chocolate donuts can easily fit inside
participation.
McDo Takes Its Commitment to Brigada Eskwela to the Next Level
MCDONALD’S Philippines is once again showing that the spirit of volunteerism and community service is stronger than ever among its management, employees, and partners, as it kicks off its 19th consecutive year of active participation in the Department of Education’s Brigada Eskwela program. As a new school year starts, close to 4,000 volunteers from 679 McDonald’s stores nationwide came in full force to help clean and prepare public elementary schools in their local communities. Its participation also brought in donations amounting to nearly P3 million.
No less than McDonald’s Philippines Leadership Team spearheaded the company’s “brigade” of volunteers in a cleanup activity held at Catmon Elementary School in Rodriguez, Rizal, on June 10, 2025. Together with the other volunteers from the McDonald’s Philippines office, they helped classrooms get ready for the opening of classes on June 16.
Aside from cleaning up, painting, and decorating classrooms, the McDo team also turned over chairs and tables to the school, which are part of the company’s ReClassified initiative — a program that repurposes and transforms decommissioned furniture from stores undergoing renovations into well-designed, durable, and functional chairs and tables for classrooms.
The McDo team also allocated ReClassified chairs for other public elementary schools in Rizal, in partnership with GMA Kapuso Foundation. A total of 250 ReClassified chairs and tables are being turned over to six schools in Rizal this year. To date, ReClassified has been brought to over 12 schools and has benefited over 2,000 students nationwide.
Said Catmon Elementary School Principal Madonna C. Evangelio: “What they did was a big help. Aside from the cleaning materials they gave, the chairs they donated for our KS-1 learners are very important. We have a shortage of chairs, especially for grade 1 and grade 2. With 450 KS-1 learners and a growing student population, the new furniture will help ease a pressing concern for the school.
lunchboxes and make for a quick and easy snack. To make it more interesting and versatile, you can pair this with other Mini Milky Donut flavors, such as bavarian, strawberry, and yema.
Julie’s Classic favorites for every kid
Some kids tend to be picky, leading to a more challenging time when it comes to packing their snacks.
If that’s the case, here are some classic Pinoy breads that are sure-fire hits in the baon rotation:
Violet Cream Loaf
This Julie’s staple is both a filling snack and a visual treat. The white and violet braided loaf is topped with a generous serving of a rich creamy topping and grated cheese, making it a unique and delightful merienda experience.
Spanish Bread
Julie’s Spanish bread, with its iconic crescent-shaped roll filled with a perfectly sweet and creamy mixture, remains the same beloved treat enjoyed by earlier generations, ensuring a timeless taste of tradition.
Ensaymada
Julie’s take on the ensaymada keeps it simple yet exceptionally tasty, featuring soft, buttery bread with sugar and a generous amount of grated cheese, making it an indulgent and satisfying version of this beloved treat.
If your kid has a taste for both cheesy and chocolatey delights, or simply favors sweet breads, you’re in luck! You can easily combine these treats at Julie’s. Check out the new PanBaon Bundles made for parents looking for tasty and affordable baon options for their kids.
IMcDonald’s volunteers made sure that students were welcomed by clean and pleasant classrooms during the opening of classes at Catmon Elementary School. Over the years McDonald’s Philippines has been an active supporter of DepEd’s Brigada Eskwela program, more formally known as the National School Maintenance Week. This government program calls on volunteers from both the private and public sectors to help clean up, repair, and redecorate schools in their communities, so that children will enter spaces that are conducive to learning throughout the school year. McDonald’s Brigada Eskwela participation this year also showed the deepening involvement of its partners in serving communities. Its corporate partners, Ecolab and Diversey, pledged their support to promote cleanliness and hygiene by donating soaps, floor cleaners, and all-purpose cleaners through the Ronald McDonald House Charities Philippines. In addition, the McDonald’s team has produced school signages for distribution to nearly 1,000 schools nationwide. Aside from ReClassified chairs and tables and cleaning materials, McDonald’s also shared meals with the hardworking teachers and community members at Catmon Elementary School.
As part of its continued support for Brigada Eskwela, the company provided meals through its McDonald’s Kindness Kitchen during the kickoff event at Bacacay East Central School in Bacacay, Albay, where 1,000 meals were served to volunteers, teachers, and members of the community. “The start of a new school year is an important part in the life of students and teachers, and McDonald’s Philippines has been doing its part in helping make that time as exciting, memorable, and meaningful as possible.” said Adi Hernandez, Assistant Vice President for Corporate Relations and Impact. “Since 2006, we’ve been actively participating in DepEd’s Brigada Eskwela. This is just one of the many ways we show our support for education and strengthen our partnerships with the schools near our stores.”
CreamyYESS promo turns Mang Inasal meals into winning moments
MANG Inasal is making rainy days
more exciting with the launch of its CreamyYESS Raffle Promo, a nationwide campaign that gives customers a chance to win just by enjoying their favorite rice meals and cooling down with the Philippines’ number one Halo-Halo.
From smartphones and AirPods to Dessert Museum tickets and a highly anticipated meet-and-greet with Mang Inasal’s trending endorser Fyang Smith, the promo highlights the brand’s well-loved offerings and the everyday joy of shared mealtimes.
According to Mang Inasal President Mike V. Castro, the campaign goes beyond a typical rewards program. “This is our way of thanking our loyal customers while adding Unli-Saya (unlimited fun) to their dining experience,” he said. “We know Mang Inasal meals are a source of comfort and connection for them.
With this promo, we’re making their visits even more special by giving them a chance to win something truly memorable.”
Available exclusively for dine-in and takeout until July 31, 2025, the raffle transforms the simple act of ordering a Halo-Halo into a chance to win, connect, and celebrate. With crave-worthy food and compelling prizes on offer, Mang Inasal’s CreamyYESS Promo adds a layer of fun to every visit and a reason to come back for more.
T’S back-to-school season, but that doesn’t mean the fun has to stop! MR.TOY kicks off the month of June with its Cool School Craze promo, offering customers up to 30 percent off on selected toys until June 30, 2025. This exciting promo is all about striking the perfect balance between learning and play. Featuring a curated selection of toys that not only entertain but also inspire creativity and imagination, MR.TOY invites kids to explore, create, and unwind—making their school days even cooler. Whether it’s a puzzle that sharpens problem-solving skills or a craft kit that brings ideas to life, MR.TOY has just the right mix of fun and function to support growing minds.
Check out some of the toys here:
Biting Finger Game (Ages 3+) - This playful crocodile game challenges kids to press down on its teeth until it snaps shut! It sharpens hand-eye coordination, fine motor skills, and reaction speed, while also encouraging laughter and social play.
DIY Beads Set-Dopamine
Veterans Bank President and CEO Eulogio Catabran III addresses the attending 3,000 stockholders at the recent Annual Stockholders Meeting last June 20, 2025 at the SMX Convention Center.
After an afternoon spent cleaning classrooms, McDonald’s team and volunteers turn over ReClassified chairs and tables to teachers of Catmon Elementary School in Rodriguez, Rizal, as part of this year’s Brigada Eskwela
WHAT MAKES A BRAND ICONIC AND MEMORABLE?
Part One
AS communicators, we all look forward to winning awards for PR and marketing. But beyond that, there are brands that go beyond this and endure for many years. These are taglines we grew up with, and remember through time. Why was this so? We find out when Dictionary Scoop compiled the 10 Top Brand Slogans of All Time, which we are sharing with you in the article below.
1. Think Different–Apple THIS mythical tagline was developed by Apple after Steve Jobs returned to the company. Launched in 1997 through a famous television commercial called “Here’s to the Crazy Ones,” Think Different featured a one- minute black and white footage of 17 iconic 20th century personalities like Albert Einstein, John Lennon, and Martin Luther King. A brainchild of Craig Tanimoto, an advertising agency’s art director, it was a reversion of Think a Slogan popularized in the early 20th century by IBM, Apple’s main competitor. It was so successful that the company continued to use it for five more years.
2. Open Happiness–Coca Cola WITH more than 135 years of history, Coca-Cola is one of the longest-running companies in the US and one of the best-loved consumer brands. Throughout the years, the brand has had many memorable slogans like It’s the Real Thing, Catch the Wave, and Taste the Feeling, among others. But perhaps the most iconic
n MORE THAN JUST A PRIZE: THE ART OF TROPHY MAKING FOR CCP THIRTEEN ARTISTS AWARDS MANILA, PHILIPPINES—Trophies are usually seen as symbols em bodying ideals like excellence, perseverance, and honor. They transform struggles and achievements into a tangible, visual e xperience. But more than just marking one’s victory, trophies are works of art themselves, crafted with intention, symbolism, and care.
A w ell-designed trophy tells inspiring stories and carries the weight of institutions, traditions, and memory, functioning a s both relic and representation. Through its design elements, shapes, materials and forms, a trophy can communicate values,
construct identity, and immortalize excellence.
I n The Art of the Trophy: A Dialogue Between the Artists, a public program organized by the CCP Visual Arts and Museum Division in relation to the p restigious CCP Thirteen Artists Awards (TAA), visual artists Juan Alcazaren, Gary-Ross Pastrana, and Eric Zamuco interrogate the trophy not simply as a p rize object, but as an artwork in its own right.
Looking at the trophy as visual artwork that intersects with tr aditions of monumentality, material culture, and design history, the three artists behind the u niquely designed trophies given to previous batches of CCP TAA shared their insights into their creative concepts, personal experiences throughout the process, a nd the deeper significance of both the trophy and its creation. Moderated by artist-designer Stanley Ruiz, the public conversation was part of the Creative Continuum: Thirteen Artists Awards
one is Open Happiness, a slogan launched in the reality series American Idol in 2009. You probably still remember the catchy jingle!
For many years, the Coca Cola brand used happiness as the axis of its campaigns, managing to captivate audiences around the world. “In this case, the simplicity of Open Happiness manages to capture not only the essence of the brand, but also the philosophy of the American dream,” says Dictionary Scoop.
3. I’m Lovin’ It–McDonalds LAUNCHED during the first years of the new millennium, this was the first advertising campaign developed globally by McDonald’s. It was created by Heye and Partner, a German advertising agency that competed with 14 other major advertising slogans.
The slogan was accompanied by a multimillion-dollar campaign and a jingle performed by Justin Timberlake that became instantly popular. It is a hip hop song that sought to attract the attention of the younger generation.
What makes its lyrics stand out is that it at no time mentions
1970–2024 exhibition, which ran until May 18, 2025 at the Bulwagang Roberto Chabet, located at t he Tanghalang Ignacio Gimenez in CCP Complex in Pasay City.
Art of Trophy Making GROWING up surrounded by trophies, Alcarazen was thrilled when he was invited to design the trophy for the CCP TAA 2015. His design drew inspiration from his own TAA trophy from 2000, which was created by artist Dan Raralio.
Like Raralio’s work, Alcazaren’s trophy featured the nameplate cutting through the center of the piece. What set his design apart was the personal touch he added to each trophy, resonating the uniqueness of each awardee.
Six years after receiving his CCP TAA trophy in 2006, Pastrana was commissioned to create t he trophy for the 2012 edition of the prestigious visual arts award. Taking a more industrial approach, Pastrana was inspired by observing a pocket survival
the brand. But thanks to an emotional catchphrase and a memorable tune, it managed to convey the inspiring, passionate, and fun spirit of the fast-food giant.
4. Ideas for Life–Panasonic THIS slogan was launched in 2003 after the brand experienced some difficult financial years. The objective of Ideas for Life was to reflect the company’s commitment to providing products and services based on the value for ideas. In a short time, the brand managed to convey that, through its products, it could improve people’s lives and contribute to the progress of society. Panasonic continued to use this slogan for ten more years until it was replaced by A Better Life, a Better World in 2013.
5. Because You’re Worth It – L’Oreal IT’S amazing that Because You’re Worth It, has been part of L’Oreal’s brand identity since 1972. The iconic tagline was created by Ilon Specht, a 23 -year-old copywriter who had just started working at the McCann Erickson advertising agency. Her mission was to come up
kit being sold on the street. It sparked an idea of crafting a trophy as a collection of an artist’s e ssential tools for survival, symbolizing what every artist needs t o thrive.
Zamuco, a CCP TAA 2003 recipient, developed the trophy design inspired by the social climate of 2018, marked by the war o n drugs, human rights abuses, and the distortion of history. He designed the trophy to resemble a history book being bound, d rawing a parallel to the images of human rights victims being tied and restrained.
The Artists ALCAZAREN is a sculptor, bricoleur, collagist, and object maker w ho utilizes a diverse array of materials, from construction steel and industrial scrap to everyday objects like plastic monoblock chairs, school supplies, and m elaware plates. In the 90s, he learned steel welding under the guidance of National Artist for Sculpture Napoleon Abueva, and
with a catchphrase that would encourage ladies to pay the extra ten cents that L’Oreal’s Preference hair dye was worth over its competitors. Since that time, the brand has focused on celebrating women and their attributes. From Jane Fonda to Claudia Schiffer, from Brigitt Bardot to Penelope Cruz, a long parade of phenomenal women in film, music, and fashion delivered the proud motto in multiple ad campaigns.
What we can learn from these iconic brands:
1.Create messages that stimulate the imagination and touch the heart Apple’s Think Different and Panasonic’s Ideas for Life are intriguing and thought-provoking; while Coca Cola’s Open Happiness and McDonald’s I’m Loving It are very heartwarming.
2.Make it Personal. L’Oreal’s Because you’re worth it reaches out to women in a special way.
4.Music Matters. McDonald’s I’m Lovin’ It had a hip hop jingle performed by Justin Timberlake, while Coca Cola’s Open Happiness had a catchy jingle when it launched in American Idol in 2009.
5.Campaigns are Cool. MacDonald’s I’m Lovin’ It was its first global advertising campaign, while Open Happiness made an impact by being launched in American Idol. We will discuss five more iconic brands in the next column.
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 association for senior professionals around the world. Millie Dizon, the Senior Vice President for Marketing and Communications of SM, is the former local chair. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.
3.Make it Simple and Timeless. The words used by these brands are very simple, but stand the test of time.
since then, he has consistently returned to this medium, drawn to the way steel seems to dictate its own form.
Pastrana is a contemporary artist whose work delves into themes of time, memory, and the subtle transformation of everyday materials through conceptual and often poetic gestures. His interdisciplinary practice encompasses sculpture, installation, c ollage, writing, performance, and design.
Zamuco works across diverse media such as sculpture, installation, photography, drawing, video, and performance, his practice f unctions both as social commentary and a form of self-reflection. H is practices span a wide range of concerns, including dislocation, identity, post-colonial narratives, spirituality, geopolitics, and the reclamation of space.
The 2024 CCP Thirteen Artists Awards THE TAA 2024 trophy will be created by Patricia Perez Eustaquio,
recipient of the TAA in 2009 and a multidisciplinary artist known for her expansive body of work. Her medium spans from paintings, drawings, sculptures, and f ashion, among others, which she uses to explore current themes of perception, materiality, and the vanity of objects.
The CCP Thirteen Artists Awards honors young visual artists whose innovative practice has contributed to the development and expansion of contemporary Philippine art. The awardees for CCP TAA 2024 are Catalina Africa, Denver Garza, Russ Ligtas, E lla Mendoza, Henrielle Baltazar Pagkaliwangan, Issay Rodriguez, Luis Antonio Santos, Joshua Serafin, Jel Suarez, Tekla Tamoria, D erek Tumala, Vien Valencia, and Liv Vinluan.
For more information about the CCP Thirteen Artists Awards, visit the Thirteen Artists website, the CCP website, and follow the official CCP and CCP VAMD social media accounts on Facebook, I nstagram, Tiktok, and YouTube.
So close, so memorable
Nailga favorite as JPGT resumes in Pueblo de Oro
ALEXIS NAILGA is all geared up for another title run in the International Container Terminal Services Inc. (ICTSI) Junior Philippine Golf Tour Mindanao Series which resumes Tuesday at the Pueblo de Oro Golf and Country Club in Cagayan de Oro.
“I t’s a great feeling scoring backto-back wins and learning how to play composed,” said the 15-year-old standout after edging fellow Bukidnon bet Clement Ordeneza in a thrilling homegrown showdown at Del Monte last Friday.
Nailga’s three-stroke triumph came on the heels of his dominant victory at the Mactan leg of the Visayas Series last month, boosting him to the top of the leaderboard with 30 points in the race for slots in the ICTSI North vs. South Elite Junior Finals slated October 7 to 10 at The Country Club. Un der the structured JPGT format, the top four players from each division after the seven-leg regional series will qualify for the Vis-Min squad, which will square off against the Luzon Series’ best in the Finals.
But Nailga remains wary of the growing challenge from rivals such as Ordeneza, last week’s third placer Armand Copok, and contenders Martin Lu, Enrico Rosales, Fawzi Espinosa, Eric Jeon and Santi Asuncion.
Also looking to bounce back is Mhark Fernando III, son and namesake of the former national champion and pro campaigner, who aims to improve on his fifth-place finish at Del Monte. Fernando hopes to find his rhythm and make the necessary adjustments in the 54-hole event tournament.
FROM a tough contest in Eastbourne, Alex Eala faces a tougher, if not toughest, task on Tuesday at Wimbledon where the 20-year-old sensation takes on defending champion Barbora Krejcikova right in her firstround assignment.
Eala went so close to winning the Eastbourne Open but teenage pro Maya Joint of Australia showed she can keep her nerves in big moments with a 6-4, 1-6, 7-6 (1210) victory on Saturday night. In tears, Eala, who gave the 19-year-old Joint all the anxiety possible in the match, admitted how big deal it was as she came so very close to winning for herself and the Philippines a first Women’s Tennis Association (WTA) title.
“It’s my first WTA final. It’s a big deal for me and you know for my country too,” Eala said. “I guess that’s why I’m so emotional but you know it’s only the first. I’ll definitely work hard to do more. Wimbledon is next week so hopefully I forget about this match soon.”
“I’ll remember this week and this moment forever,” added Eala, after yielding to Joint, already a two-time WTA winner and just months after her breakthrough at the Morocco Open.
E ala earned huge cheers from the crowd at Devonshire Park Lawn Tennis Club as she accepted the runner-up trophy.
Eala had earlier earned an outright spot in Wimbledon but faces a tricky opener against Krejcikova, the world No. 17 who had an injury scare that forced her to withdraw from Eastbourne at the quarterfinal stage.
Against Joint, Eala could not complete a recovery from an early slip.
Joint broke Eala’s serve early, moved ahead 3-0 and sealed the first-set win in 41 minutes at Eala broke first in the second set and looked on the way to another dominant
Gregorio as PSC chair: Finally unity–Tolentino Sports BusinessMirror
By Josef Ramos
ATRICK “PATÒ” GREGORIO
Pwas announced as the new chairman of the Philippine Sports Commission (PSC) over the weekend and the sports community is toasting President Ferdinand R. Marcos Jr.’s decision.
“Our gratitude to our beloved President [Ferdinand R. Marcos Jr.],” said Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino on Sunday, a day after news of Gregorio’s appointment spread like wild fire with Executive Secretary Lucas Bersamin confirming the appointment to Malacañang reporters on Saturday.
“The POC and PSC can now move forward—a brighter sports community that works harmoniously,” Tolentino said. “Mabuhay ang sports ng Pilipinas!”
Gregorio replaced Richard Bachmann to become the third chairman of the government’s sports arm—the first was former Philippine Basketball Association commissioner Noli Eala—during President Marcos Jr.’s term. He’s the 13th chairman of the agency that was established in 1990 through Republic Act 6847. G regorio, 57, is expected
Scribes honor best, brightest in UAAP, NCAA
move for Nico?
run, the set lasting only 26 minutes. Joint, however, regained her bearings wound up on top after a seesaw third with both players dropping serve and the match going to tiebreak.
Eala held the advantage several times but could not finish off Joint, who claimed the win after two hours and 26 minutes.
Joint bagged $51,330 (around P2.9 million) from the $389,000 prize pool, while Eala earned $30,830. E ala was the first Philippine player to reach the title match on either the WTA or the Association of Tennis Professionals.
T he result also moves Eala up from No. 74 in the WTA to the top 60—she was in provisional 56th after the semifinals—when the new rankings are released on Monday. Eala beat Russian-born French tennis pro Varvara Gracheva in the Round of Four, 7-5, 2-6, 6-3, after disposing of Dayana Yastremska of Ukraine, 6-1, 6-2.
She earned a spot in the quarterfinals when third seed and world No. 20 Jelena Ostapenko of Latvia retired with a right ankle injury, the score at 0-6, 6-2, 3-2.
“Pató”
to officially sit as chairman on Tuesday, according to the Presidential Management Staff.
Gregorio is a product of the University of the Philippines and was the president of the Philippine Rowing Association prior to his appointment.
He served sports in various capacities—Philippine Basketball Association chairman, executive director or secretary-general of the
ANOTHER year of brilliance from the country’s top two collegiate leagues in the season will be celebrated in the 2025 San Miguel Corp.-Collegiate Press Corps (SMCCPC) Awards Night where top studentathletes, coaches and stakeholders will be feted on Monday at the Discovery Suites Manila at the Ortigas Center. This year’s awards night will honor
Western Conference with a 39-43 record.
W hen Dallas General Manager Nico Harrison traded star player Luka Doncic to the Lakers for Anthony Davis, he was roundly and violently scored for letting go of their franchise star. He could have been run out of Dallas too.
I t was also a huge gamble for Los Angeles as they pulled the trigger on the trade that could help them win the National Basketball Association (NBA) title in the twilight of LeBron James’s career.
E xcept, just a few days ago, the Oklahoma City Thunder were crowned NBA champions. Now, Harrison is… well, being feted for grabbing the consensus number one overall pick in Flagg who is definitely more than impressive. Could his gamble work out? Obviously, being a great college basketball player doesn’t translate into automatic NBA stardom. The league is littered with those who are considered busts or had so-so careers.
There’s Anthony Bennett (drafted by the Cleveland Cavaliers in 2013), Darko Milicic (selected second by the Detroit Pistons), Greg Oden (picked first by the Portland Trailblazers in 2007), Adam Morrison (who the Charlotte Bobcats tabbed third in 2006) and Kwame Brown (first in 2001 by the
POC and basketball and boxing federations, executive director of Smart Sports and chef de mission to the Paris 2024 Olympics.
“It is my honor and privilege to serve as the chair of the Philippine Sports Commission,” Gregorio said in a statement sent to various media organizations on Monday morning. “I am grateful for the President’s trust and will do right by it.”
the stellar student-athletes of the University Athletic Association of the Philippines’ (UAAP) Season 87 and National Collegiate Athletic Association’s (NCAA) Season 100 with the Men’s Basketball Player of the Year Clint Escamis of Mapua headlining a total of 26 awardees. Escamis shone brightly as he steered the Cardinals to their first title after a 33-year wait via a sweep of the
Washington Wizards) to name but a very few.
The Southeast Asian Games bronze medalist defeated Italy’s Lucia Bronzetti, 6-0, 6-1, in the first round after winning qualifying matches against Zeynep Sonmez of Turkiye, 6-1, 6-3, and world No. 56 Hailey Baptiste of the US, 6-7 (1), 7-6 (4), 6-1. E ala in March reached the semifinals of a WTA 1000 event, stunning world No. 2 Iga Swiatek, 6-2, 7-5, in the quarterfinals before bowing to world No. 4 Jessica Pegula 7-6(3), 5-7, 6-3.
“Let my leadership inspire as I have been inspired by the sheer potential in Philippine sports—to build and to strengthen this proud nation,” he said.
In th e business industry, Gregorio was Manuel V. Pangilinan’s top officer at Maynilad, MVP Sports Foundations and Landco Lifestyle Ventures.
Tolentino and Gregorio have gone a long way together in Philippine sports—Tolentino in chess, shooting, muay and cycling before becoming president of the POC and Gregorio in basketball, boxing and basketball before heading the rowing association.
In 2018, Tolentino was chairman and Gregorion was secretary-general of the POC and only last year, Tolentino named Gregorio games time chef de mission of the Paris Olympics after Department of the Interior and Local Government Secretary was recalled to attend to pressing matters in the country.
And only last April, Tolentino, the PhilCycling president, and Gregorio, chairman of DuckWorld PH, collaborated for the very successful “Great Revival” of the Tour of Luzon.” “Finally, unity,” Tolentino said.
College of Saint Benilde Blazers. Joining him is Ateneo’s Kacey de la Rosa as this year’s Women’s Basketball Player of the Year in the ceremony presented by the Philippine Sports Commission, Pilipinas Live and GMA. De la Rosa powered the Blue Eagles to their third straight Final Four appearance while earning her back-toback UAAP MVP trophies to become
S o, yes. The selection of Flagg, while exciting, remains to be seen.
In his one and only year at Duke, the 18-year-old Flagg averaged 19.2 points, 7.5 rebounds, 4.2 assists, and 1.4 blocks in 37 games.
At 6-foot-8, the native of Maine is a two-way player. His athleticism is exciting. I always think that players who are aggressive in attacking the rim are not short on confidence. Furthermore, he can put the ball on the floor when attacking. His ball handling allows him to get around defenders quickly.
W hen that first step is denied, he has a jump shot that will open up the floor for him.
Let’s sweeten the package—he can pass.
It is likely that with Davis around, Flagg will play the four-spot. He will need to bulk up for the toughness and grind of an 82-game NBA regular season. His coaches will. Also have to improve his face up game.
I realize too that it is easy to nitpick his game—his shooting form and others. But the lad is 18. I also know that going to the pros—you have to be a finished product. Or close to one. Flagg is a what—eight or
only the fifth female basketball player to achieve the feat in the league. University of the Philippines’s Goldwin Monteverde will again raise the UAAP Men’s Basketball Coach of the Year trophy after leading the Fighting Maroons back to the throne while Mapua’s Randy Alcantara is his NCAA counterpart after guiding the Cardinals to
PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino and then chef de mission
Patrick
Gregorio are the top cheerers for Team Philippines’ in the Paris 2024 Olympics.
ALEXIS NAILGA knows the challenge gets tougher every tournament. NONIE REYES
