THE Philippines needs to adopt sound fiscal management measures and adjust its policies to sustain economic growth despite rising global trade tensions, according to an economist.
Security Bank Chief Economist Angelo Taningco warned that a potential trade war could raise import costs, making production more expensive for businesses and push up consumer prices.
“Many leaders around the world are very much cognizant of a looming escalation on tariffs and a potential date for that tariff retaliation,” Taningco said
during a webinar on macroeconomic prospects. He added that as a net importer, the Philippines remains vulnerable to rising import costs, which could put pressure on businesses and households.
Data from the Philippine Statistics Authority (PSA) showed that the country’s trade gap grew 16.9 percent in January, reaching $5.09 billion from $4.35 billion a year ago. This is a reversal of the 21.9-percent decline recorded in January 2024.
However, the trade deficit by end-December expanded by 1 percent to $54.21 billion, from $52.59 billion the previous year.
Import payments rose 10.8 percent to $11.45 billion in January, rebounding from consecutive decreases of 1.5 percent in December 2024 and 6 percent in January last year.
Tracking volatility FORMER Philippine Institute for Development Studies (PIDS) researcher John Paul Corpus highlighted the importance of economic modeling in navigating external pressures. He said tracking fluctuations in oil prices, exchange rates, and government spending helps policymakers assess potential policy
responses and their impact on economic recovery. PIDS Senior Research Fellow John Paulo Rivera added that while the country posted moderate GDP growth in the last quarter of 2024, it lagged behind some Asean neighbors due to persistent inflation, high borrowing costs and weak external demand.
The Philippine economy grew by 5.2 percent in Q4 2024, matching the previous quarter’s pace, according to the PSA. This brought full-year GDP growth to 5.6 percent, slightly above 2023’s 5.5 percent. (See: https://businessmirror. com.ph/2025/01/30/q4-gdp-
By Reine Juvierre S. Alberto
OUTFLOWS
By MA. STELLA F. ARNALDO
“ITB Berlin provides an invaluable platform for us to engage with global stakeholders, highlight the unique selling points of our destinations, and position the Philippines as a premier travel choice,” said Nograles. “With a robust lineup of exhibitors, cultural activations, and business engagements, we are poised to elevate the Philippines’s presence on the global stage.”
The Philippines aims to attract 8.4 million international tourists this year, although the DOT has
29 private tourism agencies and one government firm will form the Philippine delegation, which will be led by TPB Chief Operating officer Maria Margarita Montemayor Nograles. The TPB is the marketing arm of the Department of Tourism (DOT).
By Andrea E. San Juan
LOCAL car parts manufacturers are clamoring for support even as top car brands in the country are optimistic about their sales projections for this year.
Ferdi Raquelsantos, President of Philippine Parts Makers Association (PPMA), stressed the “urgency” of addressing the challenges confronting the sector.
The group said parts makers are continuously grappling with rising costs and import dependency.
“We welcome the positive outlook in the automotive industry,
but we must ask—what about the local parts makers? Many of our members are on the brink of closure due to an uneven play ing field,” Raquelsantos said in a statement over the weekend.
“If we don’t act now, we may see the death of Philippine auto parts manufacturing,” he added.
The industry group of auto parts makers said despite the govern ment’s push for investments in the automotive and electric vehicle (EV) industries, local suppliers are finding it “increasingly difficult” to compete with cheaper imported components.
“While the Philippines’s growth was still higher than Thailand and Malaysia, global demand uncertainties weighed more heavily for the country,” Rivera said. He noted that coordinated policies at both national and international levels, particularly in trade and investment, would be crucial in sustaining long-term economic expansion.
Meanwhile, SM Investments
economist Robert Dan Roces stressed the need for “inclusive” growth, arguing that GDP figures alone do not fully capture economic well-being.
“GDP numbers are like a social media profile as they do not really tell the whole story. The real question is not just how fast we are growing, but who is benefiting from this growth?” he said. “Are we building an economy that lifts all boats, or just a select few?” He underscored the role of digital transformation in strengthening economic resilience, reiterating that it should be integrated across all sectors rather than concentrated in specific industries.
House panel keen on SRP for essential food products
By Jovee Marie N. Dela Cruz
THEHouse Murang Pagkain
Supercommittee (Quinta Comm) on Sunday announced that it is ramping up efforts to lower food prices and has urged the implementation of a suggested retail price (SRP) formula for rice, chicken, pork, fish, and vegetables.
One of the chairpersons of the Quinta Comm Mark Enverga, Speaker Ferdinand Martin Romualdez, and House Deputy Majority Leader Erwin Tulfo emphasized the urgency of this measure, reaffirming the panel’s commitment to ensuring affordable and stable rice prices for Filipino households.
While acknowledging the progress made, Enverga stressed that more work is needed. He noted that the government’s initiative to sell National Food Authority (NFA) rice at P35 per kilo has provided much-needed relief to consumers. However, the committee aims to push prices even lower.
Citing reports that NFA rice is now available in Metro Manila at P33 to P35 per kilo,
Enverga said government interventions are yielding positive results. However, he cautioned that long-term affordability depends on resolving structural inefficiencies in the rice market, particularly the influence of cartels and price manipulation by certain traders.
Enverga noted that Republic Act 12022, or the Anti-Agricultural Economic Sabotage Act, signed in September 2024, as “a crucial tool” in this fight.
He called on the Anti-Agricultural Economic Sabotage Enforcement Group to swiftly develop and implement measures to dismantle cartels and prevent price-fixing.
Enverga also underscored the need to enhance competition in the rice importation sector. Despite global rice prices drop-
ping and the government reducing rice import tariffs under Executive Order 62—which lowered duties from 35 percent to 15 percent in July 2024— local rice prices have not declined as expected.
To prevent traders from unjustly inflating prices, Enverga urged the Department of Trade and Industry (DTI) to establish an SRP formula for rice, similar to those used for other essential goods. Under this system, importers would be required to indicate the SRP on rice packaging, while the Bureau of Customs would assess tariffs based on declared purchase costs, wholesale prices, and SRP.
“With a clear SRP, price markups can be controlled. We need to ensure fair pricing from importation to the retail market,” he said.
For his part, ACT-CIS Rep. Erwin Tulfo strongly backed the implementation of SRP on essential food items with constantly rising prices to prevent businessmen from exploiting market conditions.
“Some traders, such as middlemen and brokers, take advantage of food prices, causing them to skyrocket in markets,” Tulfo said.
He said farmgate prices of rice, vegetables, eggs, and meat—whether chicken or pork—are relatively low, but by the time they reach public markets, their prices have drastically gone up.
“If we analyze it closely, the prices set by producers are affordable, but by
New Balanga…
to Christ’s mission.
“In our Church, the measure of continuity, the one that should continue above all else, is the mission of Jesus. The Church remains strong as the Body of Christ after 2,000 years because of unity and continuity,” he said.
He described this shared legacy as both a sign of unity and a reflection of the unbroken apostolic tradition that began with Christ.
Despite the weight of his new role, Sescon said he is unafraid as his devotion to Jesus Nazarene gives him strength.
“Although I have weaknesses… I am not afraid for two reasons. First, I am with the beloved Jesus of Nazarene. I did not leave Him in Manila. I brought Him to Bataan with His guidance and grace,”
Report: Foreign…
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said it will recalibrate its targets, after missing its 7.7-million visitor goal in 2024. Ahead of the travel trade fair, ITB Berlin, in its World Travel Monitor prepared by its partner think tank, IPK International, said, “People’s desire to travel abroad remains unbroken, and interest in outbound travel [in 2025] also appears high. Many destinations have already regained the levels of previous years, while others show potential for further growth.”
Impressive hotels, good food, culture THE report added, “Personal experiences and satisfaction levels play a big part when choosing a holiday destination. Accommodation that impresses the visitor with comfort and service receives particularly positive ratings. Beautiful surroundings and a pleasant culinary experience also contribute significantly to the quality of a trip. Many travelers also appreciate cultural highlights that convey a special atmosphere as well as good value for money. These trends show that demand for authentic and high-qual-
the time these goods reach consumers, they are already priced like gold,” said Tulfo.
He further noted that price hikes occur as these products pass through multiple middlemen or traders before reaching retailers.
To address this issue, the lawmaker is urging the Department of Agriculture (DA) to impose SRPs on essential food products such as rice, chicken, pork, fish, and vegetables to curb excessive price hikes.
With the implementation of SRPs on key food items, we can ensure that product prices are not manipulated,” Tulfo emphasized.
During recent congressional hearings on soaring commodity prices, it was revealed that middlemen and cartel operators are the ones dictating the cost of basic food supplies, particularly rice.
“The SRP will regulate the profits of middlemen, traders, and cartels, ensuring that these products remain affordable in the market,” Tulfo added. He also mentioned that once food prices stabilize, the DA may lift the SRP implementation.
Data from the Philippine Statistics Authority (PSA) showed that the average farmgate price of dry palay was P20.69 per kilo in January 2025, slightly lower than the previous month but still 17.69 percent higher than the P17.58 per kilo recorded in June 2022, the last month of the Duterte administration.
the former Quiapo rector said.
“Second, I am also with St. Joseph and Our Lady of the Rosary. And I am with you, my brothers and sisters, my family,” he added. Sescon will now oversee the Diocese of Balanga, which covers the entire province of Bataan. The province has a significant Catholic population, with about 80 percent of its 853,373 residents— or roughly 682,698 individuals— identifying as Catholic, according to Catholic-Hierarchy.org.
Prior to his appointment, Sescon was the rector of the Minor Basilica and National Shrine of the Jesus Nazarene in Quiapo. He also served as an aide to the late Manila Archbishop Jaime Cardinal L. Sin.
Pope Francis appointed Sescon as bishop of Balanga in December last year and he was ordained to the episcopate by Archbishop Villegas last February 25 at the Manila Cathedral.
ity travel experiences will continue to be important in the industry in the future.”
Last year, international tourism posted strong growth at 13 percent, reaching 2019 levels once more, thus indicating “the industry has fully recovered,” said the report. In particular, Asia travelers contributed significantly to international travel rebound, “although levels are still 15 percent below their former peak.” But it noted the 33-percent increase in outbound travel by the region “indicates a sustained return to previous levels on the global travel market.”
Top destinations last year were Spain, the United States, Germany, France, and Italy, while Mexico, Turkey, the United Kingdom and Austria, were also popular destinations.
MICE drives biz travel
“HOLIDAYS continue to be the main reason for traveling abroad,” said the report. “Among the various types of holiday, sun and beach holidays and city breaks are particularly in demand, with above-average growth rates in 2024. Round trips, which offer travelers the opportunity to discover several places on one trip, also remain popular.” Meetings, Incentives, Conferences, Exhibitions (MICE) travel drove the
factor” started in October 2024, but with most risks already priced in, Ricafort said an improvement in foreign portfolio investments could be seen in February and in the coming months.
“The Philippines’s exit from the Financial Action Task Force [FATF] grey list and the cut in banks’ reserve requirement ratio would support market sentiment and could increase investor confidence in the Philippines,” Ricafort said. “Going forward, [this is] a welcome development and one of the positive leads that the markets badly need recently, in view of the Trump premium/factor that weighed on the markets in recent weeks,” the economist added.
Gross outflows reached $1.603 billion in January 2025, 2 2.2 percent higher than the $1.331 billion recorded in the same month in 2024. The gross outflow is higher by 3.9 percent or $59.88 million than the $1.542 billion seen in December 2024. The US, the top destination for outflows, received $559.27 million or 34.9 percent of the total. Meanwhile, gross inflows or registered investments amounted to $1.319 billion in January 2025, higher by 6.8 percent or $83.64 million than last year’s $1.235 billion. Registered investments in January 2025 also increased by 25 percent from $1.055 billion in December 2024.
The BSP said 67.9 percent of registered investments were in peso government securities amounting to $896.09 million, with the remaining 32.1 percent or $422.93 million in securities listed on the Philippine Stock Exchange (PSE). Most of the investments in PSElisted securities were investments in banks, transportation services, property, holding firms, and the food, beverage and tobacco sectors. Investments for the month mostly came from the United Kingdom, Singapore, the US, Ireland, and Luxembourg with a combined share of 89 percent.
The BSP said the registration of inward foreign investments delegated to authorized agent banks by the BSP is optional under the rules on foreign exchange (FX) transactions. It is required only if the investor or its representative will purchase FX from authorized agent banks and/or their subsidiary/affiliate foreign exchange corporations for repatriation of capital and remittance of earnings that accrue on the registered investment.
Without the registration, the foreign investor can still repatriate capital and remit earnings on its investment but the FX will have to be sourced outside the banking system.
continued expansion in business travel last year, the report added. Meanwhile, destination management companies that have joined the delegation to the ITB Berlin include Annset Holidays, Ark Travel Express, Baron Travel Corp., Biyaheko.Com Corp., Blue Horizons Travel & Tours, Boracay Adventures Travel N Tours, CTPH Lifestyle and Travel Services, Earth Explorers Travel and Tours, Evasion Tropicale Travel and Tours, Intas Destination Management, Marsman Drysdale Travel, Rajah Tours Philippines, Southeast Travel Corp., Travelite DMC Philippines, Travel Related Incentive Programmes & Services (T.R.I.P.S.), Travel Warehouse, and Uni Orient Travel.
Participating accommodation establishments are: Amorita Resort, Bluewater Maribago Beach Resort, Bohol Beach Club, Euro-Pacific Resorts Inc. & Discovery World Corp., El Nido Resorts, Hue Hotels and Resorts, Lihim Resorts, El Nido by Araw Hospitality, Megaworld Hotels & Resorts, Misibis Resort and Hotel Management, The Bellevue Hotels and Resorts, The Funny Lion, and The Lind Boracay. The Tourism Infrastructure and Export Zone Authority, a government firm under the DOT, is also part of the delegation.
Legislator to DND: Boost security measures against Chinese spies
IBy Jovee Marie N. dela Cruz
@joveemarie
N the wake of the recent arrests of alleged Chinese spies, a leader of the House of Representatives has urged the Department of National Defense to bolster security measures in key government facilities and military installations, as well as embassies abroad.
House Assistant Majority Leader Jay Khonghun of Zambales, who also chairs the House Special Committee on Bases Conversion, emphasized the urgent need to counter foreign espionage activities that pose a threat to national security.
“These are not mere cases of foreigners being curious about our
government. There is intent; there is a plan. We cannot ignore this. We must ensure we have robust defenses against foreign surveillance,” Khonghun stated.
He stressed that beyond calling out foreign actors, the Philippines must strengthen its internal security protocols.
“Mere condemnation is not enough. We need to enhance our counterintelligence capabilities, invest in advanced technology to prevent espionage, and improve coordination among our security agencies,” Khonghun added.
The National Bureau of Investigation (NBI) on February 20 arrested five individuals—two Chinese and three Filipinos for alleged violations of the Espionage Act. Authorities disclosed
that the group was conducting surveillance on sensitive sites in Metro Manila, including Malacañang, the General Headquarters of the Armed Forces (AFP), and the National Headquarters of the National Police (PNP).
This incident follows a similar case in January 2025, when five Chinese men were arrested for allegedly monitoring Coast Guard (PCG) and Navy (PN) operations in Palawan. Authorities found high-resolution, solar-powered cameras aimed at crucial maritime activities, including resupply missions to the country’s detachments on land features at the West Philippine Sea.
Defense Secretary Gilberto Teodoro has previously addressed these issues, urging
foreign entities to respect Philippine sovereignty.
The Philippines is not alone in facing foreign intelligence threats. A 2025 report by cybersecurity firm CrowdStrike revealed a 150 percent increase in cyber espionage activities linked to China. Industries such as finance, media, and engineering were among the primary targets. Meanwhile, Taiwan has also reported a sharp rise in suspected Chinese espionage cases, including instances involving military personnel leaking sensitive information. The United States has similarly flagged foreign espionage as a major national security concern, with the Federal Bureau of Investigation (FBI) warning against systematic efforts to
Tbelieves the country must address the scourge of fake news, especially since it can influence how voters choose their leaders in the coming elections on May 12.
Comelec Chairman George Erwin M. Garcia said on Friday that social media has become a breeding ground for misinformation and disinformation, significantly shaping public perception.
“If the public, especially the youth—25 million of them—who will vote in the coming elections believe in false information, we will not elect the right leaders,” Garcia said, partly in Filipino. He noted that electoral manipulation is no longer just about “guns, goons, and gold.”
steal state and corporate secrets. Khonghun called for an urgent security review to identify and address vulnerabilities in the Philippines’ intelligence framework.
“We must modernize our counterintelligence operations. This is not just about physical security— we need a stronger cyber defense system, better intelligence-sharing mechanisms, and heightened security for military and government offices,” he stressed.
Khonghun also warned against potential foreign interference in the country’s electoral process.
“More concerning is if espionage escalates to influencing elections. We need to determine whether any candidates serve foreign interests and ensure they do not gain government positions,” he cautioned.
misinformation or disinformation in favor of or against certain candidates or political parties.
The National Security Council has recently raised alarms over potential foreign influence in the 2025 elections through cyberattacks, disinformation campaigns, and financial support for candidates aligned with external interests.
“If there are politicians who prioritize foreign interests over the nation, they must be exposed and held accountable. We cannot afford to be complacent,” Khonghun emphasized. He called on the Commission on Elections (Comelec) and the Department of Information and Communications Technology (DICT) to implement robust mechanisms to detect and prevent foreign electoral interference.
Garcia stressed that the midterm elections present an opportunity to put an end to this problem. He added that the outcome of the polls will determine whether the country will elect the right Chief Executive come 2028.
“I hope that our experience in 2025 will lead to solutions before we reach the 2028 national and local elections, which will include the presidential and vicepresidential races. If we elect the wrong senators and party-list representatives due to misinformation or disinformation, we will also make mistakes in choosing the president and vice president,” he explained. The Comelec chairman also highlighted the strong presence of foreign groups spreading fake news in the country. He warned that TikTok is gradually
With most people now relying on the internet for information, online platforms have also become tools for candidates to spread propaganda.
Speaker cites women’s role in nation building
IN honor of Women’s Month, the House of Representatives’ leadership declared on Sunday that the celebration is a call to action to break barriers and expand opportunities for women in all sectors.
Speaker Ferdinand Martin G. Romualdez emphasized the crucial role of Filipino women in nation-building and the need for sustained efforts to promote gender equality.
“This Women’s Month, we celebrate the strength, resilience, and invaluable contributions of Filipino women who continue to shape our nation. Whether as mothers, educators, workers, entrepreneurs, or leaders, their dedication is the backbone of our society,” Romualdez said in his message.
“But this celebration goes beyond recognition—it is a call to action. We must continue breaking barriers, ensuring equal opportunities, and empowering women in every sector,” Romualdez pointed out.
“The House of Representatives remains committed to enact laws that protect women’s rights, eliminate discrimination and violence, and promote their leadership in governance and nation-building,” he added.
Romualdez cited the long-standing role of women in shaping the country’s history and development, from their contributions in the home to leadership in key industries and governance.
While acknowledging progress in advancing women’s rights, Romualdez said that more must be done to ensure every woman has the freedom to achieve her full potential.
“We have made significant progress in advancing equality, but there is still much more to be done. We will not stop until every woman has the freedom to dream, achieve, and succeed without limits,” Romualdez said. Jovee Marie N. dela Cruz
Group reiterates warning vs ‘mercury cosmetics’
By Jonathan L. Mayuga @jonlmayuga
AS the Philippines marks the celebration of Women’s Month, a waste and pollution watchdog reiterated its call for a concerted action to protect women’s health and the environment from mercury poisoning by stopping the trade of unsafe cosmetic products.
In a statement, EcoWaste Coalition highlighted what it describes as the unimpeded trade of mercury-tainted products, particularly cosmetics.
Mercury in cosmetics can also pollute the environment and harm the health of users, women in particular, as well as children and other family members who can inhale the mercury vapors released from such products or get exposed by touching or using household stuff contaminated with mercury, like clothes and towels.
“We are appalled by the uncontrolled advertising, promotion, distribution and sale of imported cosmetics containing high levels of mercury in e-commerce and social media platforms and in physical stores despite the ban on such hazardous products under the Minamata Conven -
tion on Mercury and the Association of Southeast Asian Nations (Asean) Cosmetic Directive, as well as in our nation’s health, environmental and consumer protection laws,” said Aileen Lucero, national coordinator of EcoWaste Coalition.
“In brazen disregard of the public interest, dealers go on with their profitmaking activities uninterrupted and seemingly unafraid of the legal sanctions,” she said.
“They even mount marketing gimmicks such as bundle sales and price cuts to entice more buyers.”
“The freedom enjoyed by those behind the illicit trade poses a serious threat to health and the human right to a clean and sustainable environment. Going after and prosecuting them to the fullest extent of the law will send a clear signal that the period of impunity is over,” she emphasized. “Through multi-stakeholders’ collaboration and action, nationally and across borders, we can make the marketplace mercury-free.”
At a recent visit to budget-friendly malls in Pasay City, the EcoWaste Coalition found several shops fully stocked
surpassing mainstream media in audience reach, which is alarming since content on the platform is not thoroughly filtered and does not adhere to ethical journalism standards.
While there is still no law regulating social media use in the country, the poll
body has implemented measures to ensure a safer online space for both voters and candidates.
Under Comelec Resolution 11064, the commission has completely banned “false amplifiers” such as fake accounts and bots, which are often used to spread
The poll body also prohibits three types of visual disinformation during the campaign period to curb the spread of deceptive content.
These include deepfakes—digitally manipulated images or videos created using artificial intelligence; cheap
fakes—authentic media that has been recontextualized to distort its meaning; and softfakes—subtle, imperceptible manipulations that are harder to detect but equally misleading. Flagged online content will be taken down immediately, and those found to have maliciously posted or intentionally spread false information may face electionrelated charges.
DICT aims to finish two phases of natl fiber backbone by July
By Lorenz S. Marasigan @lorenzmarasigan
THE Department of Informa -
tion and Communications
Technology (DICT) is set to complete Phases 2 and 3 of the National Fiber Backbone (NFB) ahead of schedule, with both phases expected to be finished before President Marcos’ State of the Nation Address (Sona) in July. Information and Commmunication Technology Secretary Ivan Uy, in an ambush interview at the Economic Journalists Association
of the Philippines (Ejap) officers’ induction on Friday, said the agency’s timeline is well ahead of the initial projection.
“We are ahead of schedule. Phases 2 and 3 were expected to be deployed around 2025 or later, but I think before Sona, tapos na namin ,” Uy said.
The second and third phases of the NFB will extend the government’s high-speed fiber-optic network to Southern Luzon, as well as parts of the Visayas and Mindanao. This follows the completion of Phase 1, which established a high-speed connection between Laoag City in Ilocos Norte
and Quezon City.
To further speed up the nationwide broadband rollout, Uy said the DICT has secured a $288-million loan from the World Bank, which will fund the remaining phases of the project.
Uy explained that this financing will allow the department to work on several phases simultaneously, rather than relying solely on annual allocations from the General Appropriations Act (GAA).
Noong pumasok kami , we saw that if we rely on the GAA to put up the National Broadband, aabutin tayo ng 2030. So instead of relying on
Sweden’s OSM group bets on PHL talent for growth
By Bless Aubrey Ogerio
OSM Group, a Swedish company specializing in consumer electronics and soft goods, is expanding its industrial footprint in the Philippines this year, increasing operations and investments to capitalize on the country’s highly skilled workforce.
This was announced by Sweden’s State Secretary to the Minister for International Development Cooperation and Foreign Trade Diana Janse and Swedish International Development Cooperation Agency (Sida) Director General Jakob Granit, who were in the country to strengthen bilateral partnerships and explore new investment opportunities.
“Sweden is one of the top global leaders of high technological, innovative and sustainable solutions in security and defense, connectivity, health, sustainable mining and infrastructure,” the Sweden Embassy in Manila stated. “The country spends around 3.5 percent of GDP on research and development, government and private sector combined,” it added.
During the visit to the company’s facility at the Clark Freeport Zone in Pampanga, Janse reaffirmed Sweden’s commitment to foster long-term collaboration with the nation, saying, “We are determined to continue building a deep and long-lasting partnership with the Philippines.”
“In addition, Swedish companies are investing in the country, contributing to job creation and technology transfer,” she added.
Despite this, foreign investment pledges in the Philippines declined to P543.62 billion in 2024 from P889.24 billion in 2023, according to the Philippine Statistics Authority.
Strengthening ties LAST week, Swedish officials engaged with key government agencies, including the Departments of Finance, of National Defense, of Foreign Affairs, of Transportation, and of Information and Communications Technology, as well as the Bases Conversion
PhilSA, DENR to generate PH’s first seagrass mapping
DBy Manuel T. Cayon
AVAO CITY—The country’s least studied ecosystem, the seagrass, will be the subject of this year’s satellite and ground mapping to pry open valuable information about the least appreciated but one of the highly impactful marine ecosystem.
Ariel C. Blanco, director of the Space Information Infrastructure Bureau of the Philippine Space Agency (PhilSA), told the BusinessMirror that the Nationwide Seagrass Percent Cover Mapping would be started in March “and by the last quarter of the year, we can have the map of the seagrass cover.”
“We have started to develop the program, and by March, we will launch the campaign to have interested organizations and groups to participate in gathering the data from the field,” he said. Blanco said the project is a collaboration of the PhilSA and the Department of
Environment and Natural Resources and the project funding will be shouldered by both agencies.
“It’s not a big fund. What is important is everybody contributing his or her effort,” he said. “It will not be conducted only by the government, but also schools, individuals who are willing to help, because even tourists who pick seagrass may upload that in the mobile app and we can see and get it from there.”
He said DENR’s regional offices are expected to participate, “plus those local governments, their Cenros [Community Environment and Natural Resources Offices].”
“Isn’t it that we often hear the local governments asking that they need to know what’s in their water bodies, the corals, the seagrass to aid to plan effectively the protection measures so that the marine resources will not be affected severely.”
The mapping will put into focus the “unappreciated significance” and the role of seagrass in the marine environment.
“Seagrass is one of the causal ecosystems that is valuable. Example, it serves as habitat for small fishes, it holds sediments, and one more it holds several ecosystem services, including the blue carbon.”
He said that like mangroves, the seagrass is an example of a blue carbon ecosystem which sequester carbon dioxide and store them not only in their roots but in their sediments that it holds.
The seagrass holds several important role “but it is one of the least studied and protected, unlike with mangroves where we have a lot of studies,” he added.
“The seagrass needs to be appreciated by people. It Is also important in the fisheries sector, the water quality,” he said. “With the mapping, we can have better data and information on how much or how many do we still have of the seagrass.”
In a presentation before the Third Program-wide Congress of the Philippine Sky Artificial Intelligence, Blanco said 11 specific areas in the Philippines have
Cybercrime agency, PNOC partner to bring solar, wind energy to Gidas
Tthe GAA, we formulated a plan to speed it up by applying for a loan with the World Bank which was granted,” Uy said.
The NFB is a crucial component of the government’s digitalization efforts, aiming to provide a government-owned high-speed fiberoptic network that will serve as the backbone for public internet access.
The initiative is expected to improve connectivity for government agencies, public institutions, and underserved communities, potentially lowering internet costs across the country.
The DICT is targeting full completion of the NFB by 2027, a year ahead of the original 2028 timeline. Once finished, the network is expected to boost the country’s internet penetration from the current 33 percent to 65 percent, expanding connectivity to approximately 70 million Filipinos.
and Development Authority in Clark Field, to discuss ongoing projects and potential collaborations.
One of Sweden’s major initiatives in the Philippines is the Subic-Clark-ManilaBatangas Freight Railway Project, where Swedish technical expertise is aiding the Department of Transportation in project development.
In addition, Sweden’s development finance institution, Swedfund, signed a grant agreement to support public transportation improvements in the country.
Beyond infrastructure and investment, Sweden is also supporting climate resilience efforts. Sida recently signed a $200 million guarantee agreement with the Asian Development Bank to scale up investments in climate change initiatives in Southeast Asia, including the Philippines.
been surveyed using drones. Among these places were Bolinao Island, Zambales, Batangas, Sorsogon, Cebu, Antique, Lanao and Zamboanga.
“The drone dataset were processed to produce orthophotos which will be fed into the deep learning algorithm for classification.”
Aside from drones, the mapping will use existing data and images from the National Mapping and Resource Information Authority, or Namria, the central mapping agency of the Philippines government. It will also use satellite images from space agencies of other countries. It will likewise tap the country’s own Diwata 2 satellite, which generates colored maps and images, as well as from the NorSAT 2, which the Philippines has a 10 percent share collaboration with the United Kingdom and Australia.
The outcome of the project will be kept by the DENR and would be included in its planning and decision-making. “The PhilSA will support the automation of the data, make the methodology and system and to disseminate this to whoever needs the information.”
DOE, Sokor groups launch knowledge-sharing program
By Lenie Lectura @llectura
THE Department of Energy (DOE) and renowned South Korean institutions commenced their Knowledge Sharing Program (KSP) aimed at providing technical support and policy guidance to the Philippines’ energy priorities.
The 2024/25 KSP will focus on integration of electric vehicles (Evs) and charging infrastructure, renewable energy (RE) integration and grid modernization, advanced battery energy storage systems (BESS), and nuclear energy development.
The program brings together leading Korean energy institutions, namely the Korea Energy Economics Institute (KEEI), Korea Advanced Institute of Science and Technology (KAIST), Korea Trade-Investment Promotion Agency (Kotra), and Korea Hydro & Nuclear Power (KHNP).
The Asia Economic Development Committee (AEDC) of Korea serves as the program’s official coordinating organization for Philippine government-related affairs under KSP, facilitating energy cooperation between the two countries.
“Through the KSP, we aim to gain invaluable insights and best practices that will help us craft policies, strengthen our institutions, and implement innovative energy solutions that respond to our country’s evolving energy landscape,” said DOE Undersecretary Alessandro O. Sales, who represented Secretary Raphael P.M. Lotilla during the kick-off meeting.
“This Knowledge Sharing Program provides an opportunity for mutual learning—Korea can benefit from the Philippines’ longstanding expertise in geothermal and pumpedstorage hydropower, while we can gain valuable insights from Korea’s advancements in smart grids, battery technologies, and nuclear energy,” Gatchalian said.
As part of the program, the Philippines has submitted three key proposals that align with its energy transition and socioeconomic development goals. These include initiatives on accelerating EV adoption and charging infrastructure, integrating floating solar and smart grid technologies, and strengthening capacity building for clean energy development.
Since its inception in 2004, KSP has supported over 759 research programs in 1,300 topics, fostering collaborations that drive innovation and enhance institutional capabilities. The program has played a significant role in advancing energy cooperation between Korea and its partner countries, including the Philippines.
The KSP was conceived following high-level discussions between the governments of the Philippines and Korea in August 2024. It serves as a strategic platform for the exchange of expertise and best practices, enabling the Philippines to benefit from Korea’s advancements in energy technologies while showcasing its own strengths in renewable energy, particularly in geothermal and pumped hydropower generation.
Senate Committee on Energy vice chairman Sherwin Gatchalian, who also attended the kickoff meeting, emphasized the program’s role in deepening bilateral ties and advancing shared sustainability goals.
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with skin lightening products such as the three variants of Pakistan-made Goree Beauty Cream that have been flagged by the Food and Drug Administration (FDA) through several public health warnings issued from 2017 to 2023.
“These mercury cosmetics are openly displayed and sold in full view of everyone,” the group observed.
EcoWaste lamented that despite the media exposés and perennial warnings, FDA-banned Goree products continue to enjoy brisk sales as can be seen from the numerous Lazada and Shopee product listings, Facebook posts, Tiktok videos, and Instagram reels, the group lamented.
HE Cybercrime Investigation and Coordinating Center (CICC) has partnered with the Philippine National Oil Company (PNOC) to deploy hybrid solar and wind energy in identified facilities located in geographically isolated and disadvantaged areas (Gidas). The agreement aims to power CICC’s “cybercrime-resilient facilities” using renewable energy sources, CICC Executive Director Alexander K. Ramos explained.
“The new green technology aims to be sustainable and an efficient source of energy,” he said. “PNOC has been actively promoting renewable energy and it is important that we partner with them.” PNOC President and Chief Executive Of -
ficer Oliver B. Butalid highlighted that this initiative marks the first time a hybrid wind and solar power facility will be deployed in the Philippines.
Unlike standalone solar systems, he explained, the hybrid model offers a higher energy capacity, making it more practical for remote locations. The technology, already widely used in India, South America, and Indonesia, is known for its portability and efficiency.
“So this is one project that will showcase an intersection of the mission of PNOC and CICC. Because the energy solution that we are providing is very new to the country,” he said. Ramos said the CICC is targeting to roll out the hybrid energy system in 10 locations nationwide. Lorenz S. Marasigan
To underscore the impunity and the serious health consequences of using mercury cosmetics, the EcoWaste Coalition purchased FDA-flagged Goree products, specifically Goree Beauty Cream with Lycopene, Goree Day & Night Beauty Cream, and Goree Gold 24K Beauty Cream, from online sellers based in the Philippines and China.
The items bought from an Facebook dealer with a warehouse in Tanauan, Batangas, costing P270 each, are similar to the FDA-flagged beauty creams in a round white plastic tub on a square box. However, the ones from China are much cheaper at P112 to P115 each, are packaged differently, and are without a box. Equipped with a handheld X-ray fluorescence (XRF) analyzer, the group was able to determine and measure the mercury content of the purchased items. For the locally purchased Goree products, the XRF was able to detect
34,050, 30,005, and 29,750 parts per million (ppm) of mercury in Goree Gold 24K Beauty Cream, Goree Beauty Cream with Lycopene, and Goree Day & Night Beauty Cream, respectively. Mercury is known to have toxic effects on the skin and the digestive, immune, nervous, renal, and respiratory systems, and it can also affect the development of unborn babies. Changes in hearing, vision, or taste, difficulty concentrating, depression, insomnia, irritability, memory deterioration, shyness, tingling in feet, hands, tremors or around the mouth, and tremors are among the signs and symptoms of mercury exposure. Renal failur e may occur in severe cases. According to the US FDA: “Some people—including pregnant women, nursing babies and young children—are especially vulnerable to mercury toxicity. Babies may be particularly sensitive to the harm mercury can cause to their developing brains and nervous systems. Newborns who nurse are vulnerable because mercury is passed into breast milk.” The World Health Organization (WHO) considers mercury among the 10 chemicals of groups of chemicals of major public health concern. “To protect the public health from negative health effects of mercury in skin lightening products, actions are needed that engage different parts of society,” the WHO said. Among the WHO’s recommended actions to address this global problem are establishing or improving legislation, implementing compliance and enforcement strategies, strengthening laboratory capacity, conducting advocacy campaigns, and increasing awareness of health risks associated with skin lightening products, including those containing mercury.
Israel stops entry of aid and supplies into Gaza, citing stalled ceasefire negotiations
By Tia Goldenberg
The Associated Press
TEL AVIV, Israel—Israel said Sunday it is stopping the entry of all goods and supplies into the Gaza Strip.
The prime minister’s office did not elaborate on the decision but warned of “additional consequences” if Hamas does not accept what Israel says is a US proposal for an extension of the ceasefire. It was not immediately clear if the supply of aid has been completely halted.
The first phase of the IsraelHamas ceasefire, which included a surge in humanitarian assistance, expired on Saturday. The two sides have yet to negotiate the second phase, in which Hamas was to release dozens of remaining hostages in return for an Israeli pullout
and a lasting ceasefire. Israel said earlier on Sunday that it supports a proposal to extend the first phase of the ceasefire through Ramadan and Passover, or April 20. It said the proposal came from the Trump administration’s Mideast envoy, Steve Witkoff. Under that proposal, Hamas would release half the hostages on the first day and the rest when an agreement is reached on a permanent ceasefire, according to Israeli Prime Minister Benjamin Netanyahu’s office.
There was no immediate comment from the United States,
Egypt or Qatar, who have been mediating between Israel and Hamas for over a year. Hamas has not yet responded to the proposal.
Pope Francis stable, resting, skips weekly blessing as he recovers from pneumonia
By Nicole Winfield The Associated Press
ROME—Pope Francis was in stable condition and resting on Sunday as he continued his recovery from double pneumonia, but again skipped his weekly noon blessing to avoid even a brief public appearance. For the third weekend in a row, Francis cancelled the appointment delivering the Angelus prayer. He could have delivered it from his 10th floor hospital suite at the Gemelli hospital if he were well enough. Instead, the Vatican planned to distribute the prepared text as Francis continued his recovery.
“The night was quiet, the pope is still resting,” the Vatican said in its Sunday update.
He had no fever or signs of elevated white blood cells, which would signal his body was still fighting an infection. Doctors on Saturday reported that Francis was in stable condition, with no mention of him being critical, and signaled once again continued improvement. Their upbeat assessment came a day after a respiratory crisis that resulted in him being put on
noninvasive mechanical ventilation.
The 88-year-old pope though had a “good response” in his gas exchange levels even during the “long periods” he was off the ventilator mask and only using high-flow supplemental oxygen, the Vatican said. The pope, who had part of one lung removed as a young man, has lung disease and was admitted to Gemelli on February 14 after a bout of bronchitis worsened and turned into a complex pneumonia in both lungs.
The fact that Francis was able to
use just high-flow oxygen for long periods, without any significant effect on the levels of oxygen in his blood, was a sign his respiratory function was improving.
Doctors were cautious however and kept his prognosis as guarded, meaning he wasn’t out of danger. He was eating and drinking and continued his respiratory physiotherapy, and spent 20 minutes in his private chapel down the hall on Saturday, the Vatican said.
Prayers continued to pour in F R ANCIS ’ h ospitalization has come as
the Vatican is marking its Holy Year, drawing pilgrims to Rome from all over. They are walking through the Holy Door at St. Peter’s Basilica and also making pilgrimages to the hilltop Umbrian town of Assisi, to pray at the home of Francis’ namesake, St. Francis.
“Every day we’re praying for the pope,” said the Rev. Jacinto Bento, a priest visiting Assisi on Saturday with a group of 30 Jubilee pilgrims from the Azores Islands. “We’re very sad for his situation.”
In an odd coincidence, Francis was supposed to have presided Saturday over a Holy Year audience in the Vatican’s auditorium for the staff of the Gemelli hospital and other healthcare workers. They came as planned and completed the pilgrimage, while Francis continued his recovery at the hospital.
“We thought we would be able to meet him this morning in Paul VI Hall for the Jubilee Catechesis, but he surprised us by coming to us,” said Monsignor Claudio Giuliodori, spiritual guide of the Catholic University of the Sacred Heart, of which Gemelli is a part.
Giovanni Frisullo, a Gemelli neurologist, said the atmosphere at Gemelli was one of tension and prayer. “There is a situation of waiting but also of hope,” he said.
Protests eruPt at tesla stores nationwide over Musk’s role in truMP sPending cuts
By Rodrique Ngowi & Jonathan J. Cooper
BThe Associated Press
OSTON—Demonstrators gath -
ered outside Tesla stores across the US Saturday to protest the automaker’s billionaire CEO, Elon Musk, and his push to slash government spending on behalf of President Donald Trump.
White House row with Ukraine raises stakes for European summit in London
By Brian Melley
LONDON—It was supposed to cap a week of whirlwind diplomacy advancing the prospect of peace in Ukraine.
But a summit of European leaders on Sunday has been overshadowed by the extraordinary scolding by US President Donald Trump of Ukrainian President Volodymyr Zelenskyy at the White House on Friday for being ungrateful for US support. The London meeting has now taken on greater importance in defending the war-torn ally and shoring up the continent’s defenses.
“There’s a real problem for European leaders to pick up the pieces and try and move forward,” Peter Ricketts, the former British national security adviser, told BBC radio on Saturday. “It’s going to be a damage limitation exercise. It’s going to have to be an exercise in where do we go from here?”
The meeting at Lancaster House, a 200-year-old elegant mansion near Buckingham Palace, follows a charm offensive last week to engage with Trump at the White House to put Ukraine at the center of negotiations and tilt his allegiances toward Europe.
British Prime Minister Keir Starmer, who is hosting the leaders of more than a dozen countries and other officials, said he is determined to find an end to Russia’s war on Ukraine.
“We have an opportunity to come together to ensure a just and lasting peace in Ukraine that secures their sovereignty and security,” Starmer said in advance.
“Now is the time for us to unite in order to guarantee the best outcome for Ukraine, protect European security, and secure our collective future.”
years ago. The scramble to remain relevant and protect European interests as their once stalwart ally appeared to be cozying up to Putin was even more troubling when Trump called Zelenskyy a dictator and falsely said Ukraine started the war.
Meetings in recent days had provided some hope—until Zelenskyy’s visit to the White House. Visits to the Oval Office by French President Emmanuel Macron, who had declared his visit a “turning point,” and Starmer were seen as steps in the right direction. The meetings were cordial and Trump even took a gentler tone toward Ukraine though he would not commit to providing US security guarantees and maintained Europe would need to provide peacekeeping troops.
Within 12 hours of Starmer’s return from Washington, the talk of peace seemed to collapse as Vice President JD Vance berated Zelenskyy for challenging Trump’s assertions that Russian President Vladimir Putin could be trusted.
“Starmer did an impressive job of asserting Europe’s agency in the war on Ukraine and conveying to President Trump that Europe is willing and able to take a leading role in implementing any credible peace deal,” said Rachel Ellehuus, director-general of Royal United Services Institute, a defense and security think tank. “Unfortunately, Friday’s White House meeting was a major step backward.”
Ukraine can no longer count on military or political support from the US after Trump declared himself neutral in negotiations, Ellehuus said. She said Europe needs to step in and could release some 200 billion euros ($207 billion) in seized Russian assets to help fund that effort.
The demonstrations are part of a growing backlash in North America and Europe to Musk’s disruptive role in Washington.
moralized by Trump’s November victory.
Critics of Trump and Musk hope to discourage and stigmatize purchases of Tesla, the electric car company that is the world’s most valuable automaker. Liberal groups for weeks have organized anti-Tesla protests in hopes of galvanizing opposition to Musk’s Department of Government Efficiency and energizing Democrats still de -
“We can get back at Elon,” said Nathan Phillips, a 58-year-old ecologist from Newton, Massachusetts, who was protesting in Boston on Saturday. “We can impose direct economic damage on Tesla by showing up at showrooms everywhere and boycotting Tesla and telling everyone else to get out, sell your stocks, sell your Teslas.”
Musk is taking direction from Trump to slash federal spending and sharply reduce the workforce, arguing that Trump’s victory gave the president and him a mandate to restructure the US government. DOGE officials have swiftly gained access to sensitive databases, directed thousands of federal job cuts, canceled contracts and shut down sections of the government, including the US Agency for International Development.
Musk’s critics say his actions defy Congress’s power to control the US budget and present a host of ways for him to enrich himself. Musk leads several other companies, notably SpaceX, which conducts launches for NASA and the intelligence community, and the social media platform X.
“Protests will not deter President Trump and Elon Musk from delivering on the promise to establish DOGE and make our federal government more efficient and more accountable to the hard -
working American taxpayers across the country,” said White House spokesperson Harrison Fields.
Tesla did not respond to an e-mailed request for comment.
More than 50 demonstrations were listed Saturday on the website Tesla Takedown, with more planned later in March from coast to coast in the United States along with England, Spain and Portugal.
News reports showed demonstrations in recent days in US cities including Tucson, Arizona; St. Louis; New York City; Dayton, Ohio; Charlotte; and Palo Alto, California.
Some Tesla owners have also reported their vehicles vandalized with spray painted swastikas amid what Jewish groups and observers fear is a rise in antisemitism.
Federal prosecutors charged a woman in connection with a string of vandalism against a Colorado Tesla dealership, which included Molotov cocktails being thrown at vehicles and the words “Nazi cars” spray painted on the building. Saturday’s demonstration in Boston had a festive atmosphere, with a brass band playing music as protesters carried signs and chanted. Several of the signs mocked Musk and DOGE, with one reading: “Stop Elon and his despicable Muskrats.”
See “Protests,” A7
The summit will also include leaders from France, Germany, Denmark, Italy, Netherlands, Norway, Poland, Spain, Canada, Finland, Sweden, the Czech Republic and Romania. The Turkish foreign minister, NATO secretary-general and the presidents of the European Commission and European Council will also attend.
Zelenskyy received broad support from leaders across Europe after the White House fiasco, which was exceptional for featuring an attack on an ally—and because it was broadcast on live television.
Starmer embraced Zelenskyy when he arrived Saturday for a private meeting—a day before a get-together had been scheduled before the summit.
“As you heard from the cheers on the street outside, you have full backing across the United Kingdom,” Starmer said. “We stand with you, with Ukraine, for as long as it may take.” Europe has been uneasy since Trump initiated direct peace talks with Russian President Vladimir Putin, who had been isolated by most Western leaders since invading Ukraine three
“The immediate goal of the meetings in London must be to keep Ukraine in the fight so it can negotiate from a maximum position of strength,” she said.
Starmer pledged this week to boost military spending to 2.5 percent of gross domestic product by 2027. Other European nations may follow suit.
Czech Prime Minister Petr Fiala said Saturday that Europe faces a historic test and has to care for itself. He said European countries have to increase their arms spending to reach at least 3 percent of GDP.
“If we don’t increase our effort fast enough and let the aggressor dictate its conditions, we won’t end up well,” he said.
Macron, who said it was legitimate for the US to shift its focus to dealing with China and Asia, also called for more defense spending as he called for unity among his neighbors.
“We should have woken up earlier,” Macron said. “I’ve been saying for years that we need a more sovereign, more united, more independent Europe.” Associated Press writers Karel Janicek in Prague and Samuel Petrequin contributed.
n u ns pray for Pope Francis in front of the agostino gemelli Polyclinic, where the Pontiff has been hospitalized since February14, in rome, s aturday, March 1, 2025. AP Photo/Kirsty Wiggles W o rth
Britain’s Prime Minister keir st armer, right, greets uk raine’s President vo lodymyr Zelenskyy, left, for a meeting at 10 d owning street in london, england, s aturday, March 1, 2025. Peter Nicholls/Pool Photo vi A AP
Palestinians sit at a long community table surrounded by the rubble of destroyed homes and buildings as they gather for iftar, the fast-breaking meal, on the first day of ramadan in rafah, southern gaza strip, s aturday, March 1, 2025 AP Photo/Abdel K A r eem hANA
www.businessmirror.com.ph
Protests...
Continued from A6
“This government led by Trump and Musk, it’s gone completely off the rails and we are here to stop that,” said Carina Campovasso, a retired federal
worker. “And I hope they listen.”
About 300 demonstrators protested at a Tesla dealership in New York City on Saturday. Police said nine people
were taken into custody but did not elaborate on the charges they faced. Tesla’s share price has fallen by nearly a third since Trump took office,
though it’s still higher than it was a year ago. Musk’s current net worth is an estimated $359 billion, according to Forbes, which calculated his 2024 net
USAID cuts are already hitting countries around the world; here are 20 projects that have closed
By Sam Mednick, Wilson Mcmakin & Monika Pronczuk
The Associated Press
DAKAR, Senegal—Countries around the world already are feeling the impact of the Trump administration’s decision to eliminate more than 90 percent of foreign aid contracts and cut some $60 billion in funding. Hours after the announcement earlier this week, programs were shuttered, leaving millions of people without access to life-saving care.
Some 10,000 contracts with the US Agency for International Development were terminated on Wednesday, in letters sent to nongovernmental organizations across the globe.
The letters said that the programs were being defunded “for convenience and the interests of the US government,” according to a person with knowledge of the content who spoke on the condition of anonymity because they were not authorized to speak publicly on the issue.
Many of the programs are in fragile countries that are highly reliant on US aid to support health systems, nutrition programs and stave off starvation. Other major issues like fighting terrorism, human and drug trafficking, including fentanyl, and monitoring and aiding migrants will also suffer as a result of the US cuts, UN spokesman Stephane Dujarric said.
Here some key projects around the world that AP has confirmed have closed:
1: In Congo, aid group Action Against Hunger will stop treating tens of thousands of malnourished children from May, which the charity said will put the children in “mortal danger.”
2: In Ethiopia, food assistance stopped for more than 1 million people, according to the Tigray Disaster Risk Management Commission.
The Ministry of Health was also forced to terminate the contract of 5,000 workers across the country focused on HIV and malaria prevention, vaccinations and helping vulnerable women deal with the trauma of war.
3: In Senegal, the biggest malaria project closed. It distributed bed nets and medication to tens of thousands of people, according to a USAID worker who was not authorized to speak to the media. Maternal and child health and nutrition services also closed. They provided lifesaving care to tens of thousands of pregnant women and treatment that would have prevented and treated acute malnutrition.
4: In South Sudan, the International Rescue Committee closed a project providing access to quality health care and nutrition services to more than 115,000 people.
5: A program shuttered by the Norwegian Refugee Council in Colombia left 50,000 people without lifesaving support including in the northeast, where growing violence has precipitated a once-in-a-generation humanitarian crisis. It included food, shelter, clean water and other basic items for people displaced in the region.
6: In war-torn Sudan, 90 communal kitchens closed in the capital, Khartoum, leaving more than half a million people without consistent
access to food, according to the International Rescue Committee.
7: In Bangladesh, 600,000 women and children will lose access to critical maternal health care, protection from violence, reproductive health services and other lifesaving care, according the United Nations Population Fund.
8. In Mali, critical aid, such as access to water, food and health services was cut for more than 270,000 people, according to an aid group that did not want to be named for fear of reprisal.
9. More than 400,000 people in northern Burkina Faso lost access to services such as water. Services for gender-based violence and child protection for thousands are also no longer available, according to an aid group that did not want to be named for fear of reprisal.
10. In Somalia, 50 health centers servicing more than 19,000 people a month closed because health workers are not being paid, according to Alright, a US aid group.
11. In Ukraine, cash-based humanitarian programs that reached 1 million people last year were suspended, according to the spokesperson for the UN secretary-general.
12. In Afghanistan, hundreds of mobile health teams and other services were suspended, affecting 9 million people, according to the UN spokesperson.
13. In Syria, aid programs for some 2.5 million people in the country’s northeast stopped providing services, according to the UN secretary-general. Also in the north, a dozen health clinics, including the main referral hospital for the area,
US aircraft carrier arrives in South Korea, days after North Korea test-fired missiles Kurdish PKK
By Hyung-Jin Kim The Associated Press
SEOUL, South Korea—A US aircraft carrier arrived in South Korea on Sunday in a show of force, days after North Korea test-launched cruise missiles to demonstrate its counterattack capabilities.
The arrival of the USS c a rl Vinson and its strike group at the South Korean port of Busan was meant to display a solid US-South Korean military alliance in the face of persistent North Korean threats, and boost interoperability of the allies’ combined assets, the South Korean navy said in a statement. It said it was the first US aircraft carrier to travel to South Korea since June.
The deployment of the carrier is expected to infuriate North Korea, which views temporary deployments of such powerful US military assets as major security threats. North Korea has responded to some of the past deployments of US aircraft carriers, long-range bombers and nuclear-powered submarines with missile tests.
Since his January 20 inauguration, President Donald Trump has said he will reach out to North Korean leader Kim Jong Un again to revive diplomacy. North Korea hasn’t directly responded to Trump’s overture but alleged US-led hostilities against North Korea have intensified since Trump’s inauguration.
North Korea said Friday it test-fired strategic cruise missiles earlier last week to inform its adversaries of its military’s counterattack capability and the readiness
of its nuclear operations. After watching the launches, the North’s fourth missile testing event this year, Kim ordered his military to be fully ready to use its nuclear weapons.
Experts say Kim won’t likely accept Trump’s overture anytime soon as he is now focusing on his support of Russia’s war against Ukraine with provision of weapons and troops. They say Kim could consider resuming diplomacy with Trump when he thinks he cannot maintain his country’s current booming cooperation with Russia Kim and Trump met three times from 2018-19 during Trump’s first term to discuss the future of North Korea’s nuclear program. Their high-stakes diplomacy eventually collapsed due to wrangling over US-led economic sanctions on North Korea.
have shut down, said Doctors Without Borders.
14. In Kenya, more than 600,000 people living in areas plagued by drought and persistent acute malnutrition will lose access to lifesaving food and nutrition support, according to Mercy Corps.
15. In Haiti, 13,000 people have lost access to nutritional support, according to Action Against Hunger. The cuts will affect in total at least 550,000 people who were receiving aid.
16. In Thailand, hospitals helping some 100,000 refugees from Myanmar have shuttered, according to aid group Border Consortium.
17. In Nigeria, 25,000 extremely malnourished children will stop receiving food assistance by April, according to the International Rescue Committee.
18. In the Philippines, a program to improve access to disaster warning systems for disabled people was stopped, according to Humanity & Inclusion.
19. In Vietnam, a program assisting disabled people through training caregivers and providing at home medical care stopped, according to Humanity & Inclusion.
20. In Yemen, 220,000 displaced people will lose access to critical maternal health care, protection from violence, rape treatment and other lifesaving care, according the United Nations Population Fund. Associated Press writers Sylvie Corbet in Paris, France, Robert
to this report.
militants declare ceasefire in Turkey after imprisoned leader’s call
By Andrew Wilks The Associated Press
ISTANBUL—Kurdish militants who have waged a 40-year insurgency in Turkey declared a ceasefire on Saturday in what could mark a significant boost to President Recep Tayyip Erdogan’s government, two days after their imprisoned leader called for the group to disarm.
The announcement by the Kurdistan Workers’ Party, or PKK, comes against the backdrop of fundamental changes in the region, including the reconfiguration of power in neighboring Syria after the toppling of President Bashar Assad, the weakening of the Hezbollah militant movement in Lebanon and the Israel-Hamas war in Gaza.
While the government is yet to respond in detail to the PKK’s declaration, Erdogan warned that Turkey would “always keep our iron fist ready in case the hand we extend is left in the air or bitten.”
Speaking at a Ramadan fast-breaking dinner in Istanbul, Erdogan added: “We will continue our ongoing (military) operations, if necessary, until we eliminate the last terrorist without leaving a single stone on top of another, without leaving a single head on his shoulder.”
The conflict between Turkey and the PKK has led to tens of thousands of deaths since it began in 1984. The ceasefire is the first sign of a breakthrough since peace talks between the PKK and Ankara broke down in the summer of 2015.
The PKK declaration was published by the Firat News Agency, a media outlet close to the group, on Saturday. It referred to the insurgents’ leader, Abdullah Ocalan, who has been imprisoned by Turkey since 1999.
“We declare a ceasefire effective today to pave the way for the implementation of Leader Apo’s call for peace and democratic society. None of our forces will take armed action unless attacked,” it said, referring to Ocalan by his nickname.
Campaign of pressure on Kurds
O N T hursday, a delegation of Kurdish politicians announced Ocalan’s call for the PKK to lay down its arms and disband after visiting him on his island prison.
In its statement, the PKK’s executive committee said Ocalan’s call indicated that a “new historical process has begun in Kurdistan and the Middle East.” Kurdistan refers to the parts of Turkey, Iraq, Syria and Iran inhabited by Kurds.
While stating that it would “comply with and implement the requirements of the call from our own side,” the PKK emphasized that “democratic
politics and legal grounds must also be suitable for success.”
Ocalan’s call came as the main pro-Kurdish political party in Turkey has faced pressure, with several of its mayors being removed from office in recent months and replaced by government appointees.
The PKK also appealed for Ocalan to be released from Imrali prison, located in the Marmara Sea, to “personally direct and execute” a party congress that would lead to the militants laying down their arms.
‘Opportunity to take a historic step’ T HE p eace initiative between the Turkish state and the PKK, which is considered a terrorist organization by Turkey and its Western allies, was started in October by Erdogan’s coalition partner, Devlet Bahceli, a far-right politician who suggested that Ocalan could be granted parole if his group renounces violence and disbands.
Erdogan said Ocalan’s message was a “new phase” in peace efforts in Turkey.
“There is an opportunity to take a historic step toward tearing down the wall of terror that has stood between (Turkish and Kurdish peoples’) 1,000-year-old brotherhood,” Erdogan said on Friday.
Some believe the main aim of the reconciliation effort is for Erdogan’s government to garner Kurdish support for a new constitution that would allow him to remain in power beyond 2028, when his term ends. Bahceli has openly called for a new constitution, saying it was essential for Turkey’s future that Erdogan remain in power. Erdogan and Bahceli are reportedly seeking parliamentary support from the pro-Kurdish People’s Equality and Democracy Party, or DEM.
“There will be a series of meetings next week, including state officials and politicians, and many things will become clearer and more concrete. We hope that everything will be arranged in the next three months,” said Sirri Sureyya Onder, one of the DEM members who visited Ocalan in prison on Thursday.
Isolated attacks inside Turkey Oc ALAN 75, wields significant influence in the Kurdish movement despite his 25-year imprisonment, during which the PKK has been led by top figures who
Badendieck in Istanbul, Turkey, Evelyn Musambi in Nairobi, Kenya, Thalia Beaty in New York and Edith Lederer at the United Nations contributed
Choco makers worry about weakening demand
RBy Ada Pelonia @adapelonia
runs from October to September.
ECORD-HIGH cocoa prices are weighing heavily on the chocolate industry which has been searching for strategies that would mitigate the impact of high production costs.
The previous year saw volatile swings in cocoa quotations worldwide due to poor output in West Africa, where the majority of the crop is grown.
Lucrezia Cogliati, commodities analyst at Fitch solutions unit BMI said worries on the recovery of cocoa harvest in the Ivory Coast and Ghana, the world’s leading producers, kept prices above recent historical averages.
“We expect this to weigh on margins of chocolate producers due to increased input costs,” Cogliati told the BusinessMirror via email.
However, she noted that other ingredients also play a role, and the increases would not be proportional, particularly from the consumer point of view.
In January, global cocoa prices rose by 4.17 percent to $10.75 per kilo from $10.32 per kilo in the previous month, based on World Bank data. This saw a further increase from its average quotation in 2024 at $7.33 per kilo.
Amid shortfall concerns, the International Cocoa Organization (ICCO) projects global cocoa output to rebound by 7.8 percent to 4.84 million metric tons (MMT) this year, with a surplus of 142,000 metric tons (MT).
While this could signal a potential relief to the dwindling stockpile, the international organization raised a caveat that persistently high prices would dent demand.
“High cocoa prices which have prevailed for the past several years has incentivized farmers to put in more efforts and resources in cocoa farming despite the challenges they face,” the ICCO said in its first forecast for the current cocoa year, which
“On the contrary, declines in demand are expected as high cost of raw materials for cocoa users seems to be causing reduced demand.”
Figures from the ICCO showed that projected grindings, an indicator of consumption, would shrink by 4.8 percent this year to 4.65 MMT from 4.89 MMT in 2023/24.
‘Demand destruction’
FOR Oran van Dort, commodity analyst at Rabobank, the chocolate industry would be hard pressed to find the optimal strategy for pricing their products.
“They can either pass it on directly through higher prices for their products or indirectly by utilizing shrinkand skimpflation strategies,” Van Dort told this newspaper.
He said chocolatiers might avail of initiatives such as replacing cocoa butter with palm oil or reducing the size of chocolate bars for the same price.
“Industry could also choose to absorb the cost, but this is unlikely with how much cocoa has risen,” Van Dort said.
“As a result, higher costs for consumers will likely lead to demand destruction and could see their sales volumes decrease.”
Adjustments
NESTLÉ Philippines SVP and Head of Corporate Affairs Jose Uy III said that in the event of higher ingredient costs, the company avoids raising prices “as much as they could” by finding ways to absorb cost increases, such as through operational efficiencies.
“We avail of any cost savings opportunities to mitigate the impact on the cost of our finished goods,” Uy told the BusinessMirror
With this, he said the prices of their cocoa-based products only saw adjustments while their chocolate malt beverage remained the same following the surge in global cocoa prices.
“For products with cocoa, there have been price adjustments for our chocolate bars as of 2024. We have been able to maintain prices for our chocolate-malt drink up to the present,” Uy said.
“We have not reformulated our chocolate products, and so have not used any substitutes for cocoa.”
Uy also noted that the company purchases cocoa powder from grinders or processors that source cocoa beans to convert into cocoa liquor and powder.
He added that the Nestlé Group hedges cocoa through its global trading company, Nestrade.
Data from the International Trade Centre (Intracen) showed that the Philippines imported $323,190 of cocoa products in 2023, with chocolate and cocoa powder combined accounting for nearly 98 percent of the shipments at $316,642.
Hedging woes
BMI recently reported that cocoa futures posted the largest month-onmonth decline, with the $8,482 per MT recorded on February 24 being the “lowest price” since November.
“Cocoa futures have experienced downward movements, largely driven by concerns about demand,” the research firm said.
Currently, London cocoa futures stood at £7,451 per MT, 34.06 percent higher than the previous year’s level but 14.47 percent lower than the year-to-date.
According to Van Dort, market participants were shifting from futures and instead banking on other hedging techniques like over-thecounter (OTC) derivatives or options since it has become costlier to hedge bean purchases.
“[Due] to the volatility of cocoa there is significant price risk which they would like to hedge. Futures are a hedging method that industry has been pivoting away from, as it has become more expensive to hedge with the
margin system, as there is less cocoa to hedge, and as industry has reduced its hedge horizon,” he said.
“As a result, they have been utilizing other hedging methods, such as OTC derivatives or options.”
Benefits
MEANWHILE , Agriculture Undersecretary Cheryl Marie Natividad-Caballero said local cacao farmers could benefit from elevated global cocoa prices by boosting their production.
Caballero said since the Malagos Chocolate bagged the gold award at Salon du Chocolat, the Philippines has established its market presence for the crop.
Japanese firms are looking at the country to source out their products as well as other Asean nations, with Malaysia being the Philippines’ biggest buyer, she added.
“Prices are rising and it’s advantageous to [the farmers] because they can choose their buyers or they can sell at a better price,” Caballero told the BusinessMirror
However, she noted that the increasing global radar for Philippine cacao should be accompanied by consistent quality beans “so they could benefit from the current price.”
Caballero said the Department of Agriculture (DA) has launched several initiatives as part of efforts to enhance yield and bolster the country’s cacao industry.
Aside from the provision of cacao seedlings, fermentation, and drying facilities, she said the agency is also looking at establishing at least 10 community-based nurseries for cacao per region this year.
Caballero said these nurseries could fasttrack the harvest of cacao beans in two to three years from when they are planted compared to the usual five-year timeline.
Data from the Philippine Statistics Authority showed that local cacao harvest slightly grew to 10,840 MT last year from 10,760 MT in 2023.
DA wants to build solar-powered ice plants, storage facilities
THE Department of Agriculture (DA) is keen on establishing solar-powered ice plants to minimize spoilage and post-harvest losses of farm goods.
Agriculture Secretary Francisco Tiu Laurel Jr. said this would boost food supply efficiency while potentially increasing the income of farmers and fishers, particularly in remote regions.
“By introducing ice early in the supply chain—from farm to storage, or even directly to market—we can extend the shelf life of produce,” Laurel said in a statement.
“For vegetables, ice can preserve freshness for 5 to 7 days, and for fish, up to 7 days.”
Powered by renewable energy sources, such as solar and battery systems, the DA chief said the ice plants would help address critical gaps in the supply chain, particularly for high-value crops and fishery products.
Each ice plant will have a daily production capacity of around 10 metric tons (MT), he added. Currently, the spoilage of high-value crops ranges from 35 to 40 percent. Laurel said the Philippine Fisheries Development Authority (PFDA) and the Bureau of Fisheries and
Aquatic Resources (BFAR) could provide the funding for these sustainable ice plants.
“With proper cold storage and ice facilities, farmers and fishermen could expand their market reach, selling their products to areas farther from their production sites
SRA earmarks funds for soil equipment
THE Sugar Regulatory Administration (SRA) has allotted P17 million for two soil equipment that will increase sugarcane productivity.
SRA Administrator Pablo Luis Azcona said the agency would procure two more units of inductively coupled plasma optical emission spectrometer (ICP-OES) laboratory equipment that could fasttrack the analysis of soil samples. The agency recently procured ICPOES from France that was placed in Negros Island, the county’s top sugarproducing region. Previously, the SRA analyzed
5,176 sugarcane stalk samples and 6,621 soil samples from 2020 to 2024. However, these figures were only based on the soil samples sent by farmers.
With the procurement of ICPOES, the agency is expecting to analyze 5,760 soil samples annually. However, the SRA chief is hoping to analyze at least 10,000 soil samples this year.
“To make use of the equipment, I challenged [SRA personnel] to go out and collect the samples,” Azcona told reporters in a recent interview. He said the modern soil analysis equipment will help in ensuring that
the agency would be a frontrunner on research when it comes to the sugar industry.
The SRA chief noted that the two ICP-OES are set to undergo a procurement process this year, with a tentative delivery date by 2026.
The SRA said it is hopeful that sugar output would hit the agency’s forecast of 1.78 million metric tons (MMT) for the current crop year.
Data from the SRA showed that as of February 16, sugarcane production reached 13.07 MMT, 18.16 percent lower than the 15.97 MMT recorded in the previous year. Despite this, the decline in sug -
Coal’s four-year lows hide a coming global supply squeeze
LANGUISHING global prices today mask a very different future for the world’s most-consumed source of power.
Australian thermal coal contracts, the benchmark for Asia, are hovering close to $100 a ton thanks to a mild winter and global oversupply, a price level last seen in May 2021, before the energy-market upheaval that followed Russia’s invasion of Ukraine. While that is battering producers and will cheer those predicting the end of the dirtiest fossil fuel, it’s a trough that may not last.
Investment in new production has dwindled in much of the world as shareholders and banks increasingly refuse to approve new spending on projects. Demand, however, continues to rise in India and China, outpacing breakneck rates of expansion in solar and wind, while even developed countries look to coal to help power the artificial intelligence boom.
The combination portends a sharp rebound for internationally traded coal that risks adding to the economic strain already being felt by households and manufacturers in emerging economies, still heavily dependent on the fuel. It could also make coal profitable for longer—potentially vindicating those who have bet on the fuel’s resilience while threatening climate targets.
“A lot of our minority joint venture partners around the world, more particularly in Australia, wanted to get out of steam coal,” Gary Nagle, chief executive officer of Glencore Plc said during an earnings call last month, explaining the commodities trader and miner’s commitment to the fuel and its move to buy out partners in recent years.
“At the time, coal was a four-letter word. It seems in today’s world, coal is no longer a four-letter word.”
The supply squeeze is not hard to explain. Banks have cut back on coal lending, either on ethical grounds or because of financiers’ concerns they’ll be funding assets that will be shut long before they can generate a profitable return. With scant new capacity coming in for seaborne coal—new mines tend to serve Indian or Chinese domestic demand—the market is looking tighter than many expected over the medium to long term.
Even lofty levels hit in 2022, after Russian tanks rolled into neighboring Ukraine and left Europe scrambling for alternative energy supplies, weren’t enough to prompt producers to build.
“In previous price highs, that would’ve stimulated or incentivized a lot of new projects,” said Steve Hulton, senior vice president of coal markets at Rystad Energy. “We haven’t seen any of that happen. And we saw more players took the opportunity to actually exit stakes.”
If anything, he said, miners have opted to buy existing capacity—but not to develop from scratch.
Worldwide, companies have proposed new projects that will supply about 1.8 billion metric tons per year of thermal coal to feed power plants—but 76 percent of that is in China and India. Of 70 nations tracked by Global Energy Monitor, only 10 have plans to boost output by more than 10 million tons. Most aren’t developing any new mines at all.
A dearth of supply, subsequent disruptions and extreme price strikes should accelerate demand destruction in price-sensitive markets—good news for the climate. But it also signals a turbulent endgame for coal, according to Rory Simington, an analyst at Wood Mackenzie Ltd., rather than a slow and steady decline.
without relying on expensive refrigerated trucks,” the DA said.
It added that many farmers are currently limited to selling locally. With the added benefit of ice, however, they could potentially extend their market reach across the country.
Meanwhile, Laurel also underscored the importance of integrating this ice plant initiative with infrastructure such as food terminals and digital tracking systems.
He noted that these logistics enhancements would bolster the management and distribution of agricultural products, ensuring better price transparency and allowing products to reach the most profitable markets.
“This push for solar-powered ice plants is part of a broader effort by the Department of Agriculture to boost food security and reduce waste within the agricultural sector, contributing to a more sustainable and efficient supply chain.” Ada Pelonia
arcane milled during the period was not as steep as the 27.75 percent drop recorded last January 12.
However, yield for sugarcane shrank by 11 percent to an average of 1.58 LKGTC [50-kilo bag per ton of cane] from 1.78 LKGTC a year earlier, based on SRA data.
“The only thing that keeps us hoping (that we’ll reach the projected output) is that the northern part of Negros is delayed in harvesting because of the weather,” Azcona said.
“So, if that’s true, then we have a chance to hit 1.78 MMT.”
SRA data indicated that raw sugar production as of February 16 stood at 1.01 MMT, about 28 percent lower than the 1.4 MMT recorded in the previous year. Ada Pelonia
The trouble is that while supply has been constrained, demand has kept rising, as millions more homes are electrified, cars are charged and factories are built. Surging green energy is reducing the need for fossil fuels—but not enough. In India alone, coal demand is expected to climb to 1.5 billion tons by the year through March 2030, according to estimates by the coal ministry, an increase of about 3 percent every year.
Tech companies are building data centers to support cloud computing and AI. Many utilities were caught flat-footed by this shift and are now relying more heavily on coal to keep enough juice flowing across the grid. In the US and Japan, they’re extending the life of plants that had been scheduled to close. Germany is hanging on to a fleet of mothballed coal plants because it’s taking longer than expected to build the new gas plants needed after the country closed its last nuclear facility in 2023.
No surprise then, that the International Energy Agency has revised its coal demand outlook higher in its last four annual reports—and has reversed its view that demand would peak. Global demand is slated to rise 1 percent through 2027, the organization said in a December report.
For now, there is little for producers to cheer. China, which mines and burns half the world’s coal, is facing swelling inventories since the start of last year after producers and power plants stocked up to avoid a repeat of the energy shortages that plagued the economy in 2021 and 2022.
Purchasing remained relatively strong through the end of the year as companies sought to cope with winter demand. But the season was mild and industrial power demand has slowed, leading stockpiles to bulge. Industry information provider China Coal Resource estimated total inventories rose to 665 million tons by the end of December, up 21 percent from the previous year and enough to supply the nation for more than a month.
China Shenhua Energy Co., a unit of the nation’s biggest coal firm, has stopped buying foreign coal shipments from the spot market as it seeks to draw down high port inventories and make use of domestic production. China’s largest coal associations have called for companies to adjust in order to prevent “severe” oversupply amid falling prices. Japan and South Korea also had relatively normal winters, keeping North Asian demand in check.
“We had just come through a period where people were aggressively buying,” Wood Mackenzie’s Simington said. “Then we had a mild winter and now stockpiles are full everywhere.”
The lull looks likely to be short-lived. Hotter weather could quickly turn the picture as air conditioning fuels demand. And Chinese coal requirements continue inching higher, with the IEA expecting a 1.3 percent increase through 2027. The organization had previously expected China’s demand to peak in 2023. As Newcastle coal prices have fallen, about 10 percent of export mines have become unprofitable at below $110 a ton, Simington said. Some of those mines will likely halt output, which should also provide temporary support for prices.
“Structurally there are pressures, no doubt about it,” Simington said. “But to date, the overall growth of energy demand has meant consumption of coal keeps being able to grow.” Bloomberg News
PHOTO FROM PHILIPPINE NEWS AGENCY
Aging in insecurity: The urgent need for a societal shift in caring for our elders
IN a poignant reminder of the challenges faced by our senior citizens, President Marcos has shed light on the alarming financial insecurity affecting 70 percent of our elderly population. His remarks during the inaugural cash gift distribution under the Expanded Centenarians Act of 2024 highlight not only the struggles of our aging population but also the pressing need for a societal shift in how we care for and value our elders. (Read the BusinessMirror story: “PBBM cites need to do more for 70 percent poor Pinoy elderly,” February 26, 2025).
The statistics paint a stark picture: 73 percent of senior citizens still rely on their children for financial support, and over half bear the burden of medical expenses out of pocket. This reliance on familial support underscores a broader systemic failure to provide adequate social safety nets for those who have spent their lives contributing to Philippine society. As our population ages—9.22 million seniors as of the last census—the urgency of addressing these issues becomes increasingly clear.
The President’s acknowledgment of the societal and governmental responsibilities towards senior citizens is commendable. It is indeed a call to action for not just policymakers but for all of society. The sentiment that many elders feel isolated, undervalued, or even abused is a heartbreaking reality that must be addressed.
The government’s current initiatives, including cash gifts and various discounts under the Expanded Senior Citizens Act, are steps in the right direction. However, as the President himself pointed out, these measures are just the beginning. There is an urgent need for enhanced long-term care options and comprehensive support systems that ensure not only financial stability but also emotional and social well-being for our elders.
Moreover, the findings from the University of the Philippines School of Labor and Industrial Relations regarding the lack of retirement benefits for informal workers expose a critical gap in our social security system. With only 40 percent of workers covered by retirement benefits, we must reconsider how we safeguard the financial futures of our aging workforce. As we navigate the complexities of a rapidly changing world, it is imperative that we do not lose sight of our elders. The President’s call to “show that we are proud” of their contributions is a powerful reminder that respect and honor for our seniors should be woven into the very fabric of our society.
The government’s plan to distribute over P2.9 billion in cash gifts to senior citizens this year is significant, but it must be accompanied by a holistic approach that addresses the root causes of their financial insecurity. This includes investing in healthcare, promoting inclusive policies, and fostering intergenerational connections that can enrich both the lives of our elders and the communities they inhabit.
Beyond government action, a societal shift in perspective is needed. As the President noted, many senior citizens feel a lack of value in their families and society. We must actively combat this by recognizing and celebrating their contributions, providing opportunities for them to remain engaged, and fostering a culture of respect and care. Nothing beats meaningful actions that affirm their dignity and worth.
Opinion BusinessMirror
A global insight into the Filipino work ethic
FILIPINO healthcare workers have become indispensable in hospitals across the United States, Europe, the Middle East, and other places around the world. Filipino nurses, in particular, are often described as the backbone of healthcare systems abroad. A hospital director in Saudi Arabia once shared how his facility actively sought out Filipino nurses due to their unmatched compassion, adaptability, and work ethic. This is not an isolated sentiment. Countries like the United States, Canada, and the United Kingdom have long relied on Filipino nurses to fill critical gaps in their healthcare systems. The Philippines is the largest exporter of nurses globally, with over 240,000 Filipino nurses working abroad as of recent estimates.
Beyond healthcare, other sectors also recognize the value of Filipino workers. Filipino domestic helpers in Hong Kong and Singapore are highly preferred for their loyalty and dedication. Teachers and medical technologists from the Philippines
are also in demand globally, with schools and laboratories commending their ability to maintain high professional standards while adapting seamlessly to different cultural contexts. These preferences are not coincidental; they stem from deeply
ingrained traits such as resilience, adaptability, and loyalty that make Filipino workers stand out in competitive global markets.
The Filipino work ethic is a product of generations of overcoming adversity—whether it be natural disasters or economic instability. Resilience is a defining characteristic of Filipino workers, enabling us to thrive in dynamic environments that require quick problemsolving and adaptation. However, this strength can sometimes come at a cost. The expectation to always “bounce back” can lead to overwork and burnout, creating an unsustainable work culture where well-being is often sacrificed for productivity.
Systemic changes are needed within organizations to ensure that resilience does not come at the expense of mental health or wellbeing. To create a sustainable work culture, companies must implement supportive measures such as flexible working arrangements and mental health resources.
Adaptability is another hallmark
of the Filipino workforce. Filipinos excel at adjusting to new roles or technologies, a trait that has become increasingly valuable in today’s fastpaced global economy. The global diaspora has exposed many Filipinos to diverse work cultures and practices, further enhancing our adaptability and communication skills. Yet this flexibility can also be exploited by employers who offer temporary contracts or unstable employment conditions, undermining long-term career growth and security. The Filipino work ethic remains a powerful asset in an increasingly competitive global landscape. As the Philippines continues to integrate into the global economy, both workers and organizations must strike a balance between leveraging our strengths and addressing potential drawbacks. By celebrating resilience, adaptability, and loyalty while advocating for sustainable practices that prioritize well-being, we can unlock the full potential of the Filipino workforce—transforming challenges into opportunities for growth both locally and internationally.
OSG challenges acquittal in document falsification case involving property transfer after owner’s death
T. Anthony C. Cabangon
Lourdes
THE Office of the Solicitor General (OSG) has filed an Omnibus Motion for Reconsideration regarding a Court of Appeals decision acquitting a person accused of falsification of documents revolving around the transfer of a property supposedly made six years after the death of the registered owner “on the basis of reasonable doubt” on two criminal cases that were decided by a municipal trial court and affirmed by the regional trial court.
Eduardo A. Davad Nonilon G. Reyes
D.
V.
In the Omnibus Motion, the OSG said that the prosecution was able to present the original Deed of Absolute Sale in Criminal Case No. 3070 and that the copy of the Deed of Donation presented before the Municipal Trial Court in Trece Martires City in Criminal Case No. 3071 is admissible as official record under Section 34, Rule 132 of the Revised Rules on Evidence.
The Motion for Reconsideration was filed following a decision of the Court of Appeals 4th Division, which cited “that there is reasonable doubt concerning the existence of forgery in relation to the Deed of Donation and to the Deed of Absolute Sale, which in turn, necessitates “the accused’s acquittal from the charges” that were stated. Court records reveal that the ac-
cused Rolando Benitez y Belamide was hauled to court regarding the alleged falsification of the land transfer documents before the Municipal Trial Court in Trece Martires. The case concerned the Deed of Donation and a Deed of Absolute Sale that was executed sometime in 2016, when the supposed registered owner, Rolando’s mother Rosa Belamide, died on December 28, 2010, with the Certificate of Death presented before the lower court.
The records also show that the signatures of Rosa Belamide were absolutely forged as per the findings of the municipal trial court with Judge Jaclyn C. Vicente finding Rolando Benitez y Belamide guilty beyond reasonable doubt for the crime of falsification of a public document on October 6,
2023, a decision later affirmed by Presiding Judge Jean DesuasidoGil of the Regional Trial Court on January 5, 2024.
The CA’s Fourth Division reversed and set aside the ruling of the Regional Trial Court and “acquitted Rolando of the crimes charged against him” on the basis of reasonable doubt.
Associate Justice Louis P. Acosta penned the decision, with Associate Justices Marlene Gonzales-Sison and Rex Bernardo L. Pascual concurring on the decision on the acquittal of Rolando citing the fact that the originals of the documents related to the land transfer that were presented by the prosecution were not the originals.
“This court is of the opinion that the Municipal Trial Court of Cavite could not have considered to have made a definitive finding regarding the existence of any forgery with respect to the instruments” and thus “it can be said that there is reasonable doubt concerning the existence of forgery in relation to the Deed of Donation and to the Deed of Absolute Sale, which, in turn necessitates Rolando’s acquittal from the charged therein.”
In its filing, the OSG said that the prosecution had actually presented the original of the Deed of Absolute Sale in the criminal case against Rolando. The OSG also asked the Court of Appeals to review the Transcript of Stenographic Notes from the proceedings before the Municipal Trial
Court of Trece Martires City. “With due respect to the Honorable Court, the prosecution was able to present the original Deed of Absolute Sale in Criminal Case No. 3070 and in Criminal Case 3071.” The OSG said the copy of the Deed of Donation presented before the municipal court is admissible as official record under Section 34, Rule 132 of the Revised Rules on Evidence.
The OSG also sought to present additional evidence to buttress its motion for reconsideration citing specifically pertinent portions of the court hearings as transcribed by stenographers. “If the Honorable Court will allow, respondent seeks to present a certified xerox copy of the Deed of Donation.” It also said in its motion that “the falsified Deed of Donation subject of Criminal Case No. 3071 existed.” And for this, the OSG requested a subpoena to compel government officials to produce the original Deed of Donation and other relevant documents filed with the Provincial Environment and Natural Resources Office (PENRO) of the DENR.
According to the OSG, it was only after the CA rendered the Decision relative to the acquittal of Rolando that respondent was able to reestablish communications with the PENRO and that the OSG was furnished a certified xerox copy—or a certified true copy of the copy on file—of the Deed of Donation.
RISING SUN
Atty. Jose Ferdinand M. Rojas II
LITO GAGNI
Martyr or tyrant Government learning academies
TJoel L. Tan-Torres
DEBIT CREDIT
Part four
HE Philippine Tax Academy (PTA) has now to focus on making strategic and transformative measures to pursue its mandate in Republic Act 10143. This law was enacted in July 2010, and the PTA has been in existence for over 14 years.
The officers, board directors, and other stakeholders of the PTA must define its vision and strategic directions. This exercise should result in acquiring its resources and budgetary requirements, undertaking diagnostic needs assessment for the curriculum and the training courses, defining its research agenda, developing its external linkages and collaborations, establishing digital and artificial intelligence-enabled learning resources and platforms, and formulating the medium- to longterm grand plans of creating its own staffing pattern and organizational structure, the establishment of its own Academy building, and offering of graduate academic tax programs.
The PTA can also immediately have quick wins by improving its website, social network sites, and public communication efforts.
As discussed in my previous columns, the PTA should advocate for a substantially higher budget to fund its resource acquisitions, programs, and activities. While the other government learning institutions and academies have expenditure budgets ranging from hundreds of millions and trillions of pesos, the PTA is constrained with a minuscule annual budget of about P50 million in the past years. The PTA Law provides for the formation of a Corps of Professional Instructors. Feedback from my sources confirms that not a single training faculty has been hired for this. It is quite incredible that a training Academy, such as the PTA, is without any trainers and instructors!
The PTA’s diagnostic needs assessment for the curriculum and the training courses should cater to its target learners. These include the tax officers of the Bureau of Internal Revenue, Bureau of Customs, and treasurers of the local government units. As part of its more encompassing mandate, the PTA should also be addressing the training needs of the other stakeholders, such as the tax practitioners and taxpayers. The tax academies of other countries have been offering training sessions to these groups.
The PTA’s curriculum should cover a mix of onboarding seminars, technical tax training, policy development, international tax, strategic tax planning, tax research, digital transformation, e-governance ethics, and leadership skills. The dif-
ferent modes of training delivery should be made available, including in-person training, online learning, and self-paced E-learning modules.
A model that can be used by the PTA in the training area is the Virtual Training to Advance Revenue Administration. VITARA is a joint initiative of four international organizations: the Inter-American Center of Tax Administrations, the Intra-European Organization of Tax Administrations, the International Monetary Fund, and the Organization for Economic Co-operation and Development.
VITARA was launched in 2020 to develop an effective, globally accessible, on-demand, and affordable online training curriculum on revenue administration issues. Covering both institutional arrangements and management of strategic reform, as well as the design and management of core taxation processes, the VITARA curriculum and courses represent a comprehensive training package. The participants of VITARA courses are officers of tax administrations and related government agencies. VITARA offers several online courses that the participant can complete within a certain time frame. I have attended several VITARA courses and found them all very relevant and applicable even to our local tax setting. I have just registered for the VITARA Reform Management Fundamentals: Setting Up A Reform Program. This course explains key concepts of reform management, the process of developing a reform program, the key management and governance arrangements of tax administration reforms as well as tax administration reform project management.
A collaboration between VITARA and PTA can jumpstart the learning program of the Academy.
To be continued
Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He has his own tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.
SSiegfred Bueno Mison, Esq.
THE PATRIOT
HORTLY after the 2022 presidential elections, Retired General Eliseo Rio, former Commission on Elections (Comelec) Commissioner Augusto Lagman, and Franklin Ysaac alleged that it was “highly improbable if not impossible” to count over 20 million votes within the first hour after the polls closed on May 9.
T heir “politically neutral urgent petition” has been pending in the Supreme Court for three years now.
From attacking Smartmatic, the erstwhile IT provider in Comelec to questioning its replacement (Miru Systems), which supposedly introduced a range of improvements over the Smartmatic Vote Counting Machines (VCM), the group of General Rio keeps on knocking on doors or “rocking the boat” in its quest to enhance the accuracy and transparency in the voting process. Doubts on the election process are neither novel nor unique to the Philippines. Since this country moved from manual to automated counting more than a decade ago, well-meaning Filipinos have raised this perennial election question: do we really have an automated election system that is reflective of the true will of each Filipino voter?
Enter CPA-Lawyer, Atty. Harold Respicio. In his law firm’s website, he is considered “not just a lawyer, but a strategist with a razor-sharp understanding of both law and accounting.” An alumnus of Ateneo de Manila University with a Juris Doctor degree, and a Certified Public Accountant from De La Salle University, he is running for vice mayor in the municipality of Reina Mercedes, Isabela. On February 28, 2025, a cyber libel complaint was filed against Respicio due to a Facebook
video, where he allegedly claimed the Comelec’s VCM can be hacked. In response, Respicio claimed that the case, initiated by no less than Comelec Chairperson George Garcia, was prompted by his expose’ of the serious vulnerabilities of the VCM, that if connected to the Internet before printing the election returns, the election can be theoretically rigged. I always believe that whenever there is smoke, there is fire. And whenever fire is looming, the remedy is to find the root cause instead of just extinguishing the smoke. Otherwise, the smoke will continue to spread everywhere until a fire erupts, or even explodes! In its attempt to put out this more recent smoke from Respicio, Comelec has reiterated that the Commission will “fight fake news, misinformation, and disinformation,” as it earlier disqualified Edgar Erice, who was seeking re-election, following his allegations of irregularities in the contract between Miru and the poll body. I am not privy to the complaints from Rio, Erice and this most recent one from Respicio, yet I think free speech especially about information integrity and election transparency should be paramount above all other interests. While I agree that Comelec should contain the spreading of unverified claims or fake news, I see more value if the regulatory body gives an audi-
ence to these “martyrs or tyrants” of democracy. As in all critics who face prosecution or persecution, Respicio remains defiant in these legal challenges, saying: “The public deserves fair, transparent, and credible elections. If the system has flaws, it must be corrected—not blindly defended.”
In any legal proceeding, the burden of proof lies with the complainant. In these kinds of proceedings, unlike in criminal cases where proof beyond reasonable doubt is required, the standard is substantial evidence.
But what is unique in election controversies is that the case can warrant unnecessary scrutiny with political interests, making it difficult to find evidence. It has been considered an unfortunate norm that election cases are heard and decided at a snail pace to the detriment of the contestant who is supposedly deprived of a political position. Hence, in most election cases I encounter, the winner gains a pyrrhic victory since the case is decided a few months or weeks before the end of the term in dispute. In the end, the one who cries foul get the short end of the stick. In the case of Respicio, he might not even get any stick at all in the face of a possible disqualification and disbarment case for this social media post.
Do the likes of Rio, Erice, and Respicio deserve such irreverent treatment from the government? Should anyone be complaining about these election issues for the sake of media mileage or self-interests, then they are tyrants in my book. But should anyone be pursuing these things in keeping with the virtues of transparency and fairness in the elections not for themselves but for the country, then they are martyrs. And they will be blessed in accordance with the promises found in the Bible—“Blessed are those who are persecuted for righteousness’ sake, for theirs is the kingdom of heaven.”
(Matthew 5:10)
When we look at being “persecuted for righteousness’ sake” as a
blessing, it can sound more like an extreme hardship out of sacrifice. I am not saying that Respicio is righteous in airing his comments on social media even though I knew him as a law student in our Jesuit law school. I am not aware whether he is acting in ways that align with His will. What I know is that the looming criminal and administrative filings against him appear to condemn rather than to listen, violative of what the Bible tells us to be “quick to listen, slow to speak, and slow to get angry.” (James 1:19). In Biblical history, there is assurance that struggles for righteousness have a purpose as in the case of Daniel who was thrown into the lions’ den for refusing to stop praying to God. Believers, who have unwavering commitment to righteousness that resulted in suffering, carry an eternal reward. As such, those who “complain” in search of truth are encouraged if not emboldened to remain steadfast in their beliefs, knowing that God rewards their obedience. Jesus faced immense persecution yet accepted crucifixion with love, grace, and forgiveness. Whether Respicio, or Comelec as a whole, is the subject of persecution, the fact remains that those who embody the spirit of responding to mistreatment with love not only honors our Almighty God but also serves as a powerful example to others. Not all persecution is equal. Being persecuted for righteousness speaks volumes when it comes to spreading our faith. May those who criticize a person or a process do it out of their quest for truth. May those being criticized or complained of respond with love. Such a reminder goes against the practice of today’s generation in the same way that the message of Jesus to the apostles when faced with criticism and beatings because of their faith were against the cultural norms of the time. Some things really never change—there will be martyrs and tyrants.
Zelenskyy’s blowup with Trump leaves allies facing disaster
By Jennifer A. Dlouhy, Natalia Drozdiak, Alex Wickham & Andra Timu
DISASTER was the word European officials used as Volodymyr Zelenskyy’s long-sought Oval Office meeting with Donald Trump descended into a reality-TV livestream of raised voices and angry bickering.
The shock deepened as Trump told the Ukrainian president in a social media post to “come back when he is ready for Peace.” Later, Trump allies said there was little chance of a deal to end the war as long as Zelenskyy remains in power.
“Either we’re going to end it or let him fight it out,” Trump told reporters as he left the White House Friday evening. “And if he fights it out, it’s not going to be pretty, because without us, he doesn’t win.”
The blowup left Ukraine facing an open breach with the country that has been its most important ally and arms supplier in its three-year fight against Russia’s full-scale invasion. Kyiv’s European allies, who’ve spent weeks trying to talk Trump out of rushing into a quick deal to end the war on Russian President Vladimir
Putin’s terms, were aghast.
“Today, it became clear that the free world needs a new leader,” said Kaja Kallas, the EU’s top diplomat. “It’s up to us, Europeans, to take this challenge.”
Already scrambling to meet Trump’s demands that they take a bigger role in supporting Ukraine’s fight and defending themselves against Russia, European leaders now face a stark choice between trying to sustain Kyiv’s war effort on their own and making a deal with Trump, possibly at the expense of Zelenskyy’s political future.
“It’s very difficult to do an economic deal with a leader who doesn’t want to do a peace deal,” Treasury Secretary Scott Bessent, who had a front-row seat on the sofa during the Oval Office blowup, said Friday in an interview with Bloomberg Television.
The only one laughing here is Putin, according to a European official. Hungary’s Viktor Orban, whose model of illiberal democracy is celebrated by Trump and US Vice President JD Vance, delighted in needling Europe and Ukraine further.
“Strong men make peace, weak men make war,” he posted on X. Europe collectively will try to pick up the pieces, but it looks like Trump has
Russia revels in Zelenskyy’s oval office dressing down
PRESIDENT Donald Trump is making all of Vladimir Putin’s dreams come true in Ukraine, but even at the Kremlin officials find the head-spinning turn of events hard to believe.
Friday’s extraordinary Oval Office humiliation of Ukrainian President Volodymyr Zelenskyy by the US leader and his vice president, JD Vance, exceeded anything Russia could have expected.
The response out of Moscow was swift. Former President Dmitry Medvedev, now deputy chairman of Russia’s security council, said Trump told Zelenskyy “the truth to his face” before adding: “But it’s not enough—military aid should be stopped.” On the X social media platform, Medvedev called Zelenskyy an “insolent pig.” Trump and Vance “wiped their feet on Zelenskyy like a doormat,”
said Alexander Dugin, a political scientist in Moscow who advocates a “Russian World” ideology to justify Kremlin expansion. “Game over.”
Kirill Dmitriev, the one-time Goldman Sachs Group Inc. banker turned influential Putin envoy, posted a video on X of the heated exchange between Trump and Zelenskyy with a one-word description: “Historic.”
The official response has been more circumspect so far. One official close to the Kremlin said that Russia has no influence on the US. Putin’s spokesman Dmitry Peskov didn’t reply to questions seeking comments. At first glance, the Russian presi-
dent can afford to sit back and watch as things go his way. But many in the Kremlin still don’t trust what’s happening in Washington. Russian leadership doesn’t fully understand Trump’s strategy and is wary of traps, a person close to the Kremlin said earlier this week.
“In Russia, they are also in shock and, of course, they are very happy,” Tatiana Stanovaya, a senior fellow at the Carnegie Russia Eurasia Center, said in a phone interview. “Putin is lucky, but there will be no automatic success, no automatic victory.”
One particular area of concern for the Kremlin is that Trump is impatient. After the altercation with Zelenskyy he repeated again that he wants an “immediate ceasefire” between Russia and Ukraine—something he vowed to engineer soon after taking office in January.
With Russia’s economy showing signs of slowing, Putin might be willing to end the war. Yet Moscow has ruled out a ceasefire multiple times, including this week. Russian forces continue to make grinding progress in the ground war in eastern Ukraine, albeit at a huge cost in casualties. Without US backing, Kremlin forces stand to advance further.
“The differences between the United States and Ukraine play into Russia’s hands, but this may lead to a prolongation of the war, which Moscow is ready to end,” Andrey Sushentsov, dean of the School of International Relations at MGIMO University in the Russian capital, said in an interview.
Otherwise, Trump and Zelenskyy’s meeting looks like a clear win for the Kremlin. With Ukrainian
made up his mind to sell out Ukraine, one official said, asking not to be identified expressing views that aren’t public.
Several other European officials called the Oval Office debacle an ambush.
A day after his own meeting with Trump went better than some had feared, UK Prime Minister Keir Starmer spoke by phone with both Trump and Zelenskyy Friday, hoping to ease tensions.
Publicly, most European leaders backed Zelenskyy.
“Dear Volodymyr, we stand with Ukraine in good and in testing times. We must never confuse aggressor and victim in this terrible war,” German conservative leader Friedrich Merz said on social media.
But as they prepared to meet with the Ukrainian leader in the UK Sunday, European officials confronted the question of how to respond if Trump tries to force Ukraine into a peace deal that favors Russia.
European leaders were still coming to terms with the shock from the stark warnings from American officials a few weeks ago that the US can no longer be counted on to defend countries that have been its closest allies for seven decades. Until this year, the US had led the
elections having been suspended by martial law imposed after Russia’s 2022 invasion, Putin has repeatedly questioned Zelenskyy’s legitimacy as head of state. Now US voices close to the Trump administration are echoing Putin’s desire for Zelenskyy to go.
From a Russian perspective, it shows that US relations with Ukraine —and with Europe more broadly —have all but collapsed. That was a goal Putin laid out in 2007 in a speech at the Munich Security Conference. Many of his talking points were echoed in Vance’s assault on European values at the same meeting last month.
Even before any negotiations to end the war have started, Trump has already conceded Russia’s demand that Ukraine abandon its ambition to join the Nato alliance. Top US officials have said it’s unrealistic for
effort to support Ukraine’s fight, which has turned into the continent’s deadliest conflict since World War II. Now the outlook for Kyiv may be as dark as at any time since Putin sent his tanks across the border three years ago.
“What is needed is an immediate summit between the United States, European states and allies to talk frankly about how we intend to deal with the great challenges of today, starting with Ukraine,” Italian Prime Minister Giorgia Meloni said. Friday’s meeting with Trump had been intended to draw a line under past tensions between the two leaders and bind Ukraine to the US economically as the White House pushed for a peace deal to end Russia’s war on its neighbor. But after Zelenskyy pushed back against Trump’s assertions that Putin could be trusted, along with charges of ingratitude from Vance, the US president’s temper flared. With assistance from Olesia Safronova, Natalia Ojewska, Samy Adghirni,
Delfs and Nick Wadhams/Bloomberg
Ukraine to expect to regain territory occupied by Russia since 2014—including the Crimean peninsula - and Trump has ruled out the presence of US troops as peacekeepers in support of a ceasefire.
Zelenskyy left the White House on Friday without signing the minerals deal that Trump had made clear is the linchpin to continued US engagement with Kyiv. Trump posted on social media that Zelenskyy was “not ready for peace if America is involved” and that Zelenskyy had “disrespected” the US. The fallout will likely be a sharp reduction in US funding for Ukraine, said Sergei Markov, a political consultant with close ties to the Kremlin. It showed that Zelenskyy “must leave the post of president as quickly as possible,” he wrote on Telegram. Bloomberg
Irina Vilcu, Jorge Valero, Manuela Tobias, Lucy White, Jasmina Kuzmanovic, Daniel Flatley, Josh Wingrove, Alberto Nardelli, Daryna Krasnolutska, Arne
Monday, March 3, 2025
PHL aiming to ratify trade agreements by 2028—DTI
By Andrea E. San Juan
THEgovernment is targeting to ratify the country’s free trade agreements (FTA) with the 27-member bloc European Union (EU), United Arab Emirates (UAE) and Chile by 2028, according to the Department of Trade and Industry (DTI).
DTI Undersecretary for International Trade Group Allan B. Gepty told the BusinessMirror in a Viber message over the weekend that the government is also aiming to conclude and ratify the Asean Digital Economic Framework before the end of the term of President Marcos Jr. (Seerelatedstory:https://businessmirror.com.ph/2024/12/29/ new-friends-markets-vital-to-anew-world/)
“Currently, we are negotiating and hoping to conclude, sign and ratify within PBBM’s term the PHL-UAE CEPA [Comprehensive Economic Partnership Agreement],
PHL-EU FTA, PHL-Chile FTA, Asean Digital Economy Framework, upgraded Asean-China FTA, and upgraded Asean Trade in Goods Agreement,” Gepty said.
The Philippine negotiating team wants to wrap up talks for the CEPA with the UAE by the early part of this year. For the PHL-EU FTA, Gepty said negotiators are set to hold the third round of talks in June in Brussels.
The negotiation for the PHL-Chile CEPA, meanwhile, was launched in December 2024.
“As of today, we have ratified the RCEP [Regional Comprehensive Eco-
nomic Partnership] Agreement and the PHL-Korea FTA,” Gepty said.
RCEP, the largest FTA in the world, entered into force for the Philippines in June 2023 while the country’s trade deal with Korea took effect in December 2024.
Meanwhile, the trade deals that have been signed and are currently in the ratification process are the upgraded ASEAN Australia New Zealand FTA (AANZFTA), upgraded ASEAN Hongkong Free Trade Agreement (AHKFTA), and the 5th Protocol to Amend ASEAN Comprehensive Investment Agreement (ACIA).
“In general, we are guided by our PDP [Philippine Development Plan] for 2023 to 2028, that is to advance purposive, assertive, and forwardlooking free trade agreements that will expand economic space and increase our participation in global supply chains,” Gepty said.
Multilateralism
MEANWHILE , Gepty said the Philippines is advocating for the reauthorization of the US Generalized System of Preferences (GSP).
“We will also work on that once there is a new EU GSP Plus scheme. We are also advocating reauthori-
zation of US GSP. Right now MFN [most favored nation] rates apply to our exports to the US,” Gepty told this paper.
He said, however, that the Philippines is still an active member of the World Trade Organization “[The country] participated in the negotiations of the Domestic Regulations on Services, Investment Facilitation for Development, Fisheries Subsidies Agreement, and E-commerce.”
Economists said the rules-based trading system is still the way to go for the Philippines.
“Trading agreements such as FTAs and the WTO are important for providing stable access for markets among WTO members. At the same time, these agreements incorporate trade dispute settlement venues to resolve trade disputes,”
Former Philippine Tariff Commissioner George N. Manzano told BusinessMirror in a Viber message. Without these bodies, Manzano said the bigger countries will always have an advantage over smaller ones.
Ateneo De Manila University (ADMU) economist Leonardo A. Lanzona said there are disadvantages to abandoning multilateralism.
By Justine Xyrah Garcia
BISHOP Rufino “Jun” Sescon Jr. formally took on his pastoral mission as the new leader of the Diocese of Balanga on Saturday, vowing to be an “instrument of unity and continuity.”
Speaking at the Cathedral Shrine and Parish of St. Joseph, Sescon called on Church leaders, government officials, and the people of Bataan to unite.
He said their bond must be rooted in faith and service, not personal or worldly interests.
“Brothers and sisters here in the Diocese of Balanga, religious and lay people, let us unite in holiness and goodness. Government leaders, let us unite for genuine progress and peace that is part of God’s plan. Fellow citizens, let us unite in Christ,” he said in Filipino.
Papal Nuncio to the Philippines
Archbishop Charles John Brown led the installation rites and seated Sescon in the cathedra, the bishop’s chair that symbolizes the latter’s authority over the diocese.
More than 20 bishops attended the ceremony, including Manila Archbishop Jose Cardinal Advincula and Kalookan Bishop Pablo Virgilio David. Local government
officials were also present. As he formally took the helm, Sescon assured the faithful that his leadership would build on the work of his predecessors. He now follows four bishops who previously led the diocese: the late Bishop Celso N. Guevarra, retired Cubao Bishop Honesto F. Ongtioco, now Pangasinan Archbishop Socrates B. Villegas, and Antipolo Bishop Ruperto C. Santos. Continuity, he said, is not just about maintaining programs. It is about staying true
See “New,” A2
“PPMA has reiterated the need for stronger policies that favor domestic manufacturers, such as increased local content requirements, tax incentives, and access to technological advancements,” the group said.
Raquelsantos said the local industry has the “capability and expertise” to supply quality parts. However, without the right policies, he said the industry is forced to rely on imports.
“The government and automotive companies must work hand in hand with local parts makers to ensure that this industry not only survives but thrives,” he added.
With the anticipated surge in vehicle demand, PPMA urges industry leaders to “prioritize” Filipino manufacturers and rec-
ognize their role in the country’s economic growth.
According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), the Philippine auto industry will shoot for another record of 500,000 units of vehicles this year as it banks on newly-launched models and anticipates introduction of new models.
In 2024, the joint report of Campi and Truck Manufacturers Association (TMA) showed that the car industry sold 467,252 units of cars, 8.7 percent higher than the 429,807 units sold in 2023. Toyota Motor Philippines Corp. (TMP), for its part, projected that over half a million new cars could ply Philippine roads in 2025 as demand for vehicles will remain strong this year. (See:
Meanwhile,data from the Asean Automotive Federation (AAF) showed that in terms of the volume of cars produced in January to November 2024, the Philippines trailed behind Thailand, Indonesia, Malaysia and Vietnam while it produced more cars than Myanmar.
While it is still catching up with its peers in terms of volume of cars produced, data indicated that the Philippines was the second fastest-growing producer of cars compared to its Asean peers. (See: https://businessmirror.com.ph/2025/02/10/ phl-output-of-motorcyclesscooters-up-in-jan-nov-2024/)
RAMADAN BEGINS: A TIME TO REFLECT Muslims, both young and old, gather in prayer at a mosque in Parañaque City as March 2 marks the start of Ramadan. The month-long observance is a sacred time for spiritual renewal through fasting, devotion, and reflection on Allah’s teachings in the Quran. NONIE REYES
BALANGA Bishop Rufino C. Sescon Jr.
Editor: Jennifer A. Ng
Companies
Italpinas signs five new JVs
By VG Cabuag @villygc
ITALPINAS Development Corp. (IDC), a listed boutique property developer, said it signed five new joint venture agreements for the development of innovative real estate projects, mostly in Puerto Princesa in Palawan, Pampanga and Boracay.
“IDC looks forward to progressing these joint venture agreements and the opportunities they present to bring contemporary Italian design and sustainable development to the frontier island gem of Palawan, as well as others among the Philippines’ most promising growth areas,” the company said.
The IDC said it will build a condominium on a 2,000 square meter lot in Bancao-Bancao, Puerto Princesa City. With its ideal location close to both sea and airport, this project will be a mixed-use development featuring condominium living and commercial areas and retail spaces, offering and vibrant center designed to foster community and creativity.
The company will also build a
a walk-up mixed-use project on a 5,400 square meter lot in Tagburos, Puerto Princesa.
The IDC will also construct Verona Costa Verde in Tiniguiban, Puerto Princesa City. The project will have walk-up condominiums across 7,600 square meter.
In addition, the Co family and IDC already entered into a joint venture last year for the development of a two-property in Mitra Road, Puerto Princesa, Palawan. The development, named Riviera Puerto, will be a premium sustainable residential/leisure development with first-class amenities.
It is currently at the design stage.
“[The] IDC is unique for its elegant and green architecture. Palawan is one of a kind for its
natural beauty and its environmentalist culture. This is a perfect match,” IDC Chairman and CEO Romolo V. Nati said.
The island province features unique policies and guidelines, including the Palawan Council for Sustainable Development, and the Palawan Sustainable Development Strategy and Action Plan.
“As developers, we have brought environmentally responsible design to all our buildings through passive performance and biophilic architecture. Nature and wellbeing have always come first in our developments. We want our design ethos to echo Palawan’s unique values and accentuate its world-famous natural beauty,” Nati said.
The Co family, who recently joined IDC as a key equity partners upon their acquisition of 15 percent of IDC shares last November. The resulting projects,
including one in Pampanga and one in Boracay.
The company will have a project in Mexico, Pampanga, which it will call Parco Leonardo.
Arising on a 15 hectare footprint, the project will be subdivision a developed by IDC Homes, inspired by the elegant simplicity of Italian design.
The company will also develop a project in Boracay island called Miramare Residences.
The seaside development will boast views, modern architecture and a commitment to sustainability.
“As a branded condotel and collection of branded residences, it is slated to consist of about 140 apartments. Developed by IDC Prime, it will be the perfect retreat for those seeking both comfort and connection to nature on this world famous island gem,” the company said.
MGEN subsidiary expects to exceed 1,500MW target
By Lenie Lectura @llectura
MERALCO PowerGen Corp. (MGen) subsidiary MGEN Renewable Energy Inc. (MGreen) expects to exceed its renewable energy (RE) target of 1,500 megawatts (MW) by 2030 from the current 344.5MW.
For this year, MGreen is expected to add 84MW of RE capacity from the planned 50.1MW Cordon Solar, 12.5MW Baras Solar phase 2, and 19.8MW Bongabon Solar. By 2026, MGreen is expected to
finish the 450MW Laso Solar and 1,750 megawatt alternating current (MWac) Terra Solar phase 1. In 2027, phase 2 of the MTerra Solar project with a capacity of 750MWac could also be finished.
In all, these RE projects could bring MGreen’s net sellable capacity to 3,379 MWac by 2027, which is about an increase of 881 percent from 2025.
For its thermal and LNG capacity, MGen is gearing up for the 73MW expansion of Toledo plant in 2028, 670MW combined cycle-gas turbine facility in 2029, and 432MW EERI unit 4 expansion in 2029.
“In fact, for 2025, our net attributable is already around 2,610 MW. So the additional projects that I mentioned, with Atimonan, with Toledo, and note that the Batangas site, the LNG terminal, is sized to 5,000 MW and as we speak 425 MW of engines are already at the site. So we’re looking at developing another 425 MW hopefully to participate within
Move It, Grab tap Ateneo center
Tthe co-optimized market or provide mid-merit supply whenever it’s needed,” said MGen President Emmanuel V. Rubio.
MGen closed 2024 with a net sellable capacity of 2,436 MW across its diversified portfolio in the Philippines and Singapore, delivering a total of 15,296 gigawatt hours of energy which was 7 percent more versus 2023.
“This performance reflects our strategic planning, operational stability, and active participation in the optimized market,” added Rubio.
MGen reinforced its industryleading safety performance as it achieved over 39 million safe man-hours with zero lost-time incidents and total recordable incidents.
First Gen to supply capacity to Oakridge
Continued from B1
First Gen Chief Engagement Officer Carlos Lorenzo L. Vega shared that ORDC initially signed an agreement with First Gen in 2021 to directly supply the business park with electricity from a natural gas-fired power plant. In 2023, ORDC signed another supply contract with First Gen, calling for the shift to geothermal energy for all the business park’s power requirements as part of its sustainability program.
“We started the decarbonization journey with Oakridge with low carbon power supply from natural gas and we’re proud to have been with them all these years as they transitioned to 100 percent RE. We are committed to supporting the Oakridge team as they implement more energy solutions and further reduce the environmental impact of their property developments,” Vega said. Under their renewed power supply deal, First Gen and its sister company Pi Energy Inc. also provide Oakridge Business Park with a remote energy monitoring system that allows for real-time electricity usage tracking. It also provides regular energy audit reports, which
STOCK-MARKET OUTLOOK
LAST WEEK SHARE prices fell last week, with the main index returning to the 5,000-point level, impacted by the MSCI rebalancing. The benchmark Philippine Stock Exchange index fell 100.07 points to close at 5,997.97 points. The main index was down almost all week long, except on Wednesday when it closed higher by 80.80 points. Average daily trading reached P7.6 billion, thanks to Friday’s volume worth P19.66 billion. Foreign investors, who cornered 63 percent of the trades, were net sellers at P4.82 billion. All other sub-indices were down, with the exception of the Financials index that gained 8.04 points to close at 2,274.67 points. The broader All Shares index lost 72.16 to 3,588.12, the
to
retreated 82.70 to 2,150.52, the
index was down 25.76 to 1,955.54 and the Mining and Oil index plunged 530.21 to 7,748.53. For the week, losers led gainers 142 to 88 and 27 shares were unchanged.
The top gainers were Keppel Philippines Holdings Inc. A and B shares, Uniholdings Inc., Concrete Aggregates Corp. A, Victorias Milling Co. Inc., Philippine Infradev Holdings Inc., PH Resorts Group Holdings Inc. and Berjaya Philippines Inc.
The top losers, meanwhile, were PTFC Redevelopment Corp., Anglo Philippine Holdings Corp., DFNN Inc., NiHAO Mineral Resources International Inc., LMG Corp. and East Coast Vulcan Mining Corp.
THIS WEEK SHARE prices may gain next week but mainly on bargain hunting.
Inflation will take center stage, with the central bank seeing a much stable consumer price index of 2.2 percent to 3 percent from 2.9 percent in January.
Broker 2TradeAsia said its models continue to suggest being dynamic in sector exposures as the inflation-interest rate story continues to develop.
“But we maintain that these risks are structurally different from the last two years and central banks are more data-dependent-but-pro-growth than preemptively hawkish, or at least, the BSP [Bangko Sentral ng Pilipinas] has shown to be the latter given the recent RRR [reserve requirement ratios] cut,”
2TradeAsia said.
“Note that past RRR cuts tend to have a more silent impact [on] asset prices in the very short run, but the extra liquidity should positively benefit topline drivers in our monitored sectors banks, property, consumer discretionary, at least from a credit and cash expansion
includes an analysis of the business park’s energy consumption and costs to determine its need for other intervention measures and efficiency projects.
ORDC is the real estate property development arm of Cebu-based LH Paragon Group Inc., a diversified holding company with domestic and overseas business operations. Lenie Lectura
standpoint,” the broker said.
“Some adjustment to capex outlook may be warranted, which might drive preference back towards riskier plays, but ultimately should be weighed against inflation triggers-an unfortunate impact of Trump 2.0-related uncertainties that markets have to contend with this year,” 2TradeAsia added.
Immediate support is 5,800 points, resistance is at 6,000, secondary at 6,300, according to the broker.
STOCK PICKS
UNICAPITAL Securities Inc. gave a buy rating on Areit Inc. but its target price has slightly increased by 2 percent to P47.10 per share as we roll over our valuation to 2025.
“We remain positive on the stock, driven by the company’s deliberate strategy to diversify its portfolio, thereby reducing exposure risk. As of nine month 2024, office assets now account for 76 percent of the total portfolio, down from 88 percent in the same period last year,” Unicapital said.
Currently, Areit trades at a one-year forward yield of 6.6 percent, with a total return potential of 31 percent. This yield is also higher than benchmark reference rates.
Spike in inflation and key policy rates are key risks. Possible delay in the scheduled infusion of new assets is also a downside, according to Unicapital.
Areit shares closed Friday at P40.80 apiece.
Meanwhile, the broker also gave a buy rating on Mreit Inc. as it raised its dividend forecasts and target price to P17 per share. We raised our DPS forecasts by 14% after it exceeded our expectations and as we roll over our valuation to 2025.
“The stock offers an attractive yield of 10 percent, which is significantly higher than the 10-year BVAL reference rate of 6.1 percent. In terms of total return potential, Mreit has the highest upside at 37 percent, compared to other REITs that we cover,” Unicapital said.
“Spike in inflation and key policy rates are key risks. Possible delay in the scheduled infusion of new assets is also a downside,” it said. Mreit shares was last traded at P13.48 apiece. VG Cabuag
HE Philippine operations of Grab Holdings Ltd. and We-Load Transcargo Corp. (MOVE IT have teamed up with the Ateneo Bulatao Center for Psychological Services (BCPS) to develop a behavior-focused assessment and training program for ride-hailing drivers.
According to Grab Philippines Director for Mobility Edward Joseph Dela Vega, this marks a “shift” from traditional evaluation methods toward a more “holistic, evidencebased” approach that considers cognitive and behavioral factors influencing driver performance.
“As safety and security are among our core commitments to users of our platform, we are constantly innovating and raising standards to deliver on these. Through our collaboration with the Ateneo [BCPS], we are elevating the standards on driver assessment and training to reinforce desirable driver behaviors and mindsets that align with Grab’s core values,” Dela Vega said. The initiative aims to improve industry standards by integrating researchbacked tools and policies that go beyond driving skills tests and background checks. The pilot implementation of new policies and processes
resulting from the partnership is set for the second quarter of 2025. “As the number of two-wheel drivers on the road grows—whether as private riders or part of the motorcycle taxi community—we remain steadfast in fostering a culture of respect, responsible riding, and safety on all of our roads, for every motorist,” MOVE IT General Manager Wayne Jacinto said. The program’s first phase, which involves extensive data gathering and research, is already underway across Metro Manila, Cebu, and Davao.
Using both qualitative and quantitative methods, the Ateneo Bulatao Center is conducting interviews, focus groups, and data analysis to better understand driver behavior, socio-demographic backgrounds, and passenger perceptions.
“It is encouraging to see leaders in the ride-hailing industry take proactive steps to ensure that services provided to Filipino commuters prioritize safety. By integrating a behavior-focused approach into the assessment processes, we are proactively addressing the potential for drivers to act contrary to safety standards due to any existing psychological predispositions,” Ateneo BCPS Director for Research Maria Lourdes Mesa said. Lorenz S. Marasigan
Financial sector braces for diminished volatility
AMID ongoing global market disruptions from tariff threats, the Philippine financial sector braces for diminished volatility due to policy reversals, economists from Sun Life Investment Management and Trust Corp. (SLIMTC) said.
SLIMTC President Michael Gerard D. Enriquez told reporters last Friday that US President Donald Trump’s on-again, off-again tariff threats may eventually lose its shock value across financial markets.
“From the way he was doing it, he announced it, for example, for Canada and Mexico, and then the next day, he withdrew it. It was just shock and awe and then you don’t know the sincerity of it,” Enriquez said.
“Nevertheless, it has been dislocating markets, right? But we’re hoping to see it stabilize more and then it might lose its significant reaction towards financial markets,” he added.
The planned tariffs are also unlikely to have a major implication on the Philippines, as the country does not have a significant trade deficit with the US, according to Enriquez.
“I think it will not affect us that much in terms of inflation so I think that should be something that we’re happy to realize,” he added. What investors should focus more on is the US Federal Reserve’s interest rate decisions rather than Trump’s “unpredictable” rhetoric, Enriquez told reporters.
“Obviously, if you watch what Trump will say, it’s very unpredictable because obviously only he knows what he wants,” SLIMTC Economist Patrick Ella said.
While Trump’s policies may not significantly impact trade—citing exports grew 45 percent during Trump’s first time while exports
increased by 50 percent—given the Philippines’ consumer-driven economy, interest rates remain the key thing to watch, Ella said.
Despite uncertainties and shifting dynamics, SLIMTC said it aims to be one of the leading investment management companies in the Philippines.
SLIMTC reported its assets under management (AUM) reached P400 billion as of the end of 2024, almost double from the P220 billion in 2023 due to the increase in its institutional client base.
Enriquez said the firm is targeting about P450 billion in total AUM this year, a 10 percent growth across all segments, which include insurance assets, institutional and highnet-worth clients and offering retail unit investment trust funds (UITFs).
The retail UITFs, set for launch in April, are seen to drive the increase, while the bulk of the AUM growth will still come from insurance assets/ SLIMTC is setting an ambitious P10 billion target for UITFs alone in 2025.
“Our ambition is really more on being able to offer a very diversified suite of products for our clients, especially leveraging on our global expertise and using our resources from North America, from the regional offices,” Enriquez said.
SLIMTC Chief Investment Officer Ritchie Teo said UITFs are one of the most efficient entry points for retail investors, allowing them to gain exposure to global markets with as little as P5,000 for local funds or $100 for foreign products.
Teo added foreign fund managers have grown more comfortable with the Philippine market over the years, specifically when the country secured its investment-grade rating, which boosted foreign confidence in the local market. Reine Juvierre S. Alberto
Solon calls for review of gains, risks
By Butch Fernandez @butchfBM
THE country is not quite done with cleaning up the mess left by years of unabated activities of Philippine Online Gaming Operators (Pogo), and already, lawmakers are worried by the impact of online gaming operations, this time, catering to Filipinos in the country, on society.
Senate President Francis “Chiz” G. Escudero at the weekend is seeking for a cost-benefit analysis of the Philippine Inland Gaming Operators (PIGOs) licenses issued by the Philippine Amusement Gaming Corporation (Pagcor) to see if these online gaming operations easily accessible to many Filipinos are worth continuing.
According to Escudero, the operation of PIGOs have gone unnoticed amid all the controversies surrounding the Philippine Offshore Gaming Operators or POGOs and has expressed concern that the former practically offer the same online games to clients who are predominantly locals.
“With POGOs, foreigners are the ones who gamble there. It’s aliens whose family lives can be ruined, foreigners become addicted to gambling, or lose a fortune from it. We prohibited that, but we allowed PIGO—Philippine Inland Gaming Operations—where the players are Filipinos, not aliens,” Escudero told a press conference, speaking in Filipino. “Filipinos are the ones losing money; and most probably, the old POGO operators are hiding behind the PIGO,” he added.
The Senate President argued that since the same issues raised against the POGOs could be leveled against PIGOs, there should be an equal if not greater concern about its impacts.
HMOs, pre-need firms saw net income doubling in ’24
By Reine Juvierre Alberto @reine_alberto
THE net income of health maintenance organizations (HMOs) and pre-need insurance companies more than doubled as of the end of 2024, latest data from the Insurance Commission (IC) showed.
Latest data from the Insurance Commission (IC) showed the HMO industry’s net income rose by 122.95 percent to P979.8 million in 2024, after suffering from a net loss of P4.27 billion in 2023.
Total revenues of HMOs amounted to P79.371 billion, up by 20.12 percent year-on-year from P66.075 billion due to increased membership fee collection.
HMOs generated P75.642 billion in membership fees in 2024, 18.43 percent higher than the P63.871 billion collected in 2023. This accounted for 95.30 percent of total HMO revenues. Meanwhile, HMOs’ total ex -
penses also grew by 11.44 percent to P78.391 billion in 2024 from P70.354 billion in 2023.
This resulted from the 10.08-percent increase in total healthcare benefits and claims amounting to P61.051 billion in 2024 from P55.459 billion in 2023.
“We also noted from the submissions, that the HMO sector’s total assets, total invested assets, total equity, total capital stock, and total liabilities upswing across the board during the quarter under review,” Insurance Commissioner Reynaldo A. Regalado said.
The HMO industry’s total assets increased to P75.129 billion
while invested assets also went up to P17.855 billion.
Total liabilities also rose to P63.732 billion while total equities and total capital stock amounted to P11.397 billion and P9.184 billion, respectively.
The data was obtained from unaudited interim financial statements submitted by 28 HMOs, which were compared with the 27 submissions in the fourth quarter of 2023.
Pre-need industry net income
MEANWHILE , the pre-need industry posted P5.15 billion in net income in 2024, 146.93 percent higher than the P2.09 billion recorded in 2023.
“The increase was largely driven by the 68.04 percent spike in the total income earned from ‘investments in trust funds’ and a 120.23 percent surge in ‘other income’,” Regalado said.
The industry’s investment in trust funds amounted to P139.653 billion in 2024, up by 9.08 percent from P128.027 billion in 2023.
Pre-need reserves also increased to P129.793 billion, 6.10 percent higher than the P122.327 billion in 2023.
The industry has sold a total of
699,621 plans in 2024. This, however, is lower by 6.61 percent from the 749,154 plans sold in 2023. The bulk of the plans, or 99.88 percent, were 698,791 life plans, the sales of which have decreased by 6.67 percent year-on-year from 748,766. Meanwhile, the pension plans sold were doubled to 750 plans from 351 in 2023. The sale of education plans also doubled to 80 plans from
Increase in deposit insurance long overdue, solon says
By Jovee Marie N. dela Cruz @joveemarie
Lof PIGO
He sought a review of the PIGO, because, he said, the evils sought to be avoided with the ban on POGO, are also likely found in PIGO, “which will affect our own people, not just outsiders.”
The senator urged the state gaming regulator to come up with an in-depth and transparent review of PIGOs to determine the industry’s benefits to the country and provide the public with a clear picture as to what they are getting into by playing online games.
Specifically, he sought data from Pagcor and relevant government agencies like the Bureau of Internal Revenue. “How much, indeed, are we getting? And like the questions we ask in relations with POGO, is it worth it?” he added.
According to Escudero, “If it is determined that PIGOs are becoming a destructive force in the lives of Filipinos, particularly the poor and those with little disposable income,” then the government should start considering whether a ban similar to POGOs is in order.
The Senate chief acknowledged that Pagcor is drawing a big source of revenue from PIGOs, and subsequently bolstering the national government’s coffers, “but if they could turn their back in the revenue and income from POGO, there’s no reason why they cannot turn their back on the big income from PIGO if it is determined that it is doing harm to our people—and in my view, it is.”
He recalled how President Ferdinand R. Marcos Jr. issued an executive order for the continued suspension of all e-sabong operations nationwide in 2022, cognizant of the gambling activities’ negative impact on the lives of ordinary Filipinos.
In July last year during his State of the Nation Address, Marcos banned all POGO operations in the country effective December 2024.
AWMAKERS believe public confidence in the country’s banking system would be strengthened after state-run Philippine Deposit Insurance Corp. (PDIC) decided to double the maximum deposit insurance coverage (MDIC) for bank depositors.
In a statement issued his office last Sunday, Makati City Rep. Luis N, Campos Jr. welcomed the PDIC decision to double the MDIC from
P500,000 to P1 million per depositor, effective March 15.
“The 100-percent increase in the MDIC to P1 million is long overdue,” Campos said.
He emphasized that the adjustment would help strengthen public confidence in the banking system, which plays a critical role in driving economic growth and job creation.
“Based on cumulative inflation data, the purchasing power of P1 million today is more or less equal to the buying power of P500,000 in 2009, or 16 years ago,” Campos said.
The MDIC was last increased in 2009, from P250,000 to P500,000.
“This is the first time the PDIC has exercised its authority to increase the MDIC,” Campos said.
Campos explained that Congress had been periodically increasing the MDIC since 1963, until it passed Republic Act (RA) 11840, or the new PDIC charter, in 2022. The new law granted the PDIC’s governing board the authority to increase the MDIC.
In 2024, the PDIC paid P281.5 million in deposit insurance claims, benefiting 7,482 depositors of three
distressed rural and cooperative banks that had been shut down by regulators. Meanwhile, Manila Rep. Joel R. Chua said increasing bank deposit insurance will entice depositors, especially the online entrepreneurs, sellers, influencers, and vloggers, “to keep more of their earnings safe in bank deposits.”
“For day-to-day, weekly, and monthly operating funds, bank deposits in savings, checking, and online accounts are the better ways to have easy access to cash,” Chua said.
Wells Fargo drops targets slammed by Sec. Wright
WELLS Fargo & Co. just became the first major bank to abandon a goal that’s been singled out by the US energy secretary, Chris Wright, as “terrible.”
On Friday, the bank released a statement announcing it was “discontinuing sector-specific 2030 interim financed emissions targets” as well as its “goal to achieve net zero by 2050 for financed emissions.”
The announcement comes as America’s finance industry adapts to the new political reality of the Trump administration. Wright, a former fracking executive, has slammed what he characterizes as the “aggressive pursuit” of net zero which he says has delivered no benefits, but “tremendous costs.”
It’s part of a steady barrage of Republican attacks on climate policies that banks in the world’s largest economy had embraced less than half a decade ago. In 2021, Wells Fargo chief executive, Charlie Scharf, called climate change “one of the most urgent environmental and social issues of our time.”
On Friday, the bank said its earlier ambitions ended up being out of step with reality.
“When we set our financed emissions goal and targets, we said that achieving them was dependent on many factors outside our control,” Wells Fargo said. It’s now clear that “many of the conditions necessary to facilitate our clients’ transitions have not occurred.”
The announcement comes just months after Wells Fargo quit the world’s biggest climate coalition for banks—the Net-Zero Banking Alliance—together with the rest of its US peers. That exodus started one month after the Nov. 5 election re-
turned Donald Trump to the White House.
Climate experts warn the development will ultimately inject more risk into the finance industry.
“This kind of repudiation is just doubling down on taking on more transition risk,” said David Carlin, the former head of risk at the United Nations Environment Programme Finance Initiative and the founder of D.A. Carlin and Company. “It makes it harder to effectively help clients cope with a changing world and it just feels like a plan to dismantle the work they had already done in preparing for the transition.”
Wells Fargo says a single bank can’t deliver net zero emissions if the economy it serves is on a different trajectory. It’s a line that a growing number of financial firms have started repeating. Most recently, the new chief sustainability officer of HSBC Holdings Plc, Julian Wentzel, said
it’s time to stop penalizing fossil-fuel clients and acknowledge that energy security is now a top priority.
Ultimately, many banks that committed to net zero were unprepared for the operational changes the decision entails, according to Karl Pettersen, the former chief sustainability officer for the Americas at Societe Generale SA.
“What we have had is a lot of theater with limited substance,” said Pettersen, founder of advisory firm Pettersen Analytics LLC.
“No company out there knew how to get to net zero, but there was a time when you had to acquiesce with the popular mood and use the right words.”
“In the end, banks will finance what gives them the right return,” Pettersen said.
Wells Fargo said its decision to abandon its targets for financed emissions—a measure that refers to the carbon footprint of lending and investment—doesn’t affect its ambitions to continue investing in low-carbon activities.
The bank can still “play a role in supporting our clients’ climaterelated efforts,” it said.
However, Wells Fargo also emphasized its contribution to financing energy clients more broadly. As of December 31, it had about $55 billion of outstanding commitments to oil, gas, pipeline companies, and utilities. Meanwhile, it’s provided more than $20 billion of renewable tax equity since 2006.
Over the past three years, Wells Fargo has “deployed $178 billion of sustainable finance,” it said. That includes $16 billion in renewable energy and over $15 billion in clean transportation finance, the bank said.
“We are adjusting our approach to focus on doing what banks do best,” Wells Fargo said. And that is “providing financing and expertise to help clients pursue their own objectives.”
The bank will maintain its $500 billion 2030 sustainable finance goal, as well as its 2030 operational sustainability goals and its 2050 goal for Wells Fargo’s own operational emissions.
“We will continue to serve clients’ energy needs, meeting them where they are in their chosen energy and transition strategies,” Wells Fargo said. Bloomberg
In practice, Wells Fargo’s decision to abandon its long-term and interim net zero targets means it’s no longer under pressure to reduce the emissions associated with channeling capital into sectors including oil and gas, steel, aviation and automotive manufacturing.
From Cabinet secretary to doomsday president: What being a designated survivor is like
By Will Weissert The Associated Press
WASHINGTON—They start the day often as low-profile Cabinet secretaries. They end it that way, too, God willing.
But, when the rest of the government is gathered together for a big event, like President Donald Trump’s joint congressional address Tuesday night, a designated survivor is kept away to ensure someone in the line of presidential succession stays alive.
Picking a failsafe in case of a cataclysmic event that wipes out everyone else dates back to the Cold War. It’s been dramatized in novels and an ABC series starring Kiefer Sutherland that aired from 2016 to 2019.
Being the actual designated survivor brings extra adrenaline jolts and humbling thoughts about being unwittingly catapulted into the presidency and unthinkable tragedy—though the minute-to-minute details usually don’t feature the high drama of fictional portrayals, those who have filled the role say.
“It focuses your mind. It also enhances your prayer that it doesn’t happen to you,” James Nicholson, who was President George W. Bush’s veterans affairs secretary and designated survivor during the 2006 State of the Union, said of possibly becoming president after a cataclysmic event.
Trump’s White House hasn’t said who will be the designated survivor choice Tuesday. Historian and journalist Garrett M. Graff said the concept of designated survivor has long captivated people because
it combines the public’s inherent fascination with danger and the romance of an “everyman” being thrust into the presidency.
“The idea of, you’re just a random Cabinet official, and then something terrible happens and, all of a sudden, you’re president of the United States,” said Graff, author of Raven Rock: The Story of the US Government’s Secret Plan to Save Itself—While the Rest of Us Die.
Until the September 11, 2001, attacks, designated survivors had more control over where they went outside Washington. President Bill Clinton’s energy secretary, the late Bill Richardson, was picked in 2000 and simply moved up a planned weekend trip with his wife to Oxford, Maryland, a waterfront town about 80 miles away, so he’d be there during the State of the Union.
When Dan Glickman, Clinton’s agriculture secretary, was tapped during the 1997 State of the Union, his hometown of Wichita, Kansas, was too far away, so he chose New York, where his daughter lived.
“I thought it was kind of exciting. But I wasn’t hyped up from a dangerous perspective,” Glickman said. “I don’t even think anybody told me to be careful.”
Alberto Gonzales, Bush’s attorney general, was the designated survivor during the 2007 State of the Union. He said White House chief of staff Josh Bolten called a
few days before and gave a couple of options for where he could hunker down.
Gonzales chose to be in flight, and he arrived at Andrews Air Force Base in Maryland to find “members of every major department and agency” there to ride with him. They carried thick binders stuffed with memos and protocol instructions, just in case.
He said there were a series of briefings that may have stretched right into Bush’s speech, which he watched from the air.
“It was during that time that it sort of suddenly hit me, if something happened in the Capitol and everyone’s killed, that I’d be president,” Gonzales said. “It’s sort of sobering. And you wonder, would I be up to governing a wounded nation?”
In Raven Rock, Graff details how the designated survivor concept was formalized by the Carter and Reagan administrations amid fears that So -
viet subs just off the Atlantic Coast could fire nuclear missiles and wipe out Washington with barely 10 minutes’ warning.
Beginning in April 1980, the White House Military Office tasked the Federal Emergency Management Agency with ensuring succession. An aide was directed to recommend to the president who should skip events when all possible successors were together outside the White House.
Officials still prepare for a massive attack or disaster. The military helicopter that collided with a regional jet outside Reagan National Airport in January was on a continuity of government mission—training to keep the federal government functioning in case of catastrophe.
The first time that a Cabinet member being kept away from a presidential speech to Congress was publicly divulged was President
Ronald Reagan’s Education Secretary Terrel Bell in 1981. But Bell wasn’t identified until afterward.
Today, TV images from the House chamber allow political junkies to spot the missing Cabinet member within minutes.
Nicholson said Bush’s then-chief of staff, Andy Card, had asked him a few weeks before the State of the Union to take on the role. He was a natural fit given that his agency played an important role in continuity of government exercises due to its numerous hospitals and clinics nationwide.
Nicholson flew by helicopter to a destination only divulged once he was in the air, and later sat in a command center, where he underwent briefings before watching Bush’s speech.
He was served a “wonderful” dinner, prepared onsite by personnel from the White House mess, though he can’t recall if it was T-bone steak
or prime rib or something similar.
“It made you think that, at least, if this awful thing happened, you’d be well fed,” he said.
“The enormity of that job. You think about, remote as it is, this is something you might have to do,” he said of becoming president.
Nicholson’s wife was attending the State of the Union, meaning that if something happened, she could be among the victims, which only added to the pressure.
When it was over, Nicholson wasn’t asked to fill in his predecessor in the role, Gonzales, or future designated survivors.
“We don’t have a club,” he laughed. “We should.”
Glickman recalls boarding an Air Force G-3 from Andrews along with Secret Service agents, a military official and a series of advisers not on his usual staff. A three-car motorcade later carried him from LaGuardia Airport to his daughter’s apartment near Union Square in Manhattan.
She wanted to invite others to watch the speech with them, but Glickman nixed that. “This was not a party,” he said. It wasn’t all serious, though. Glickman said he was told he didn’t need to dress up, so he didn’t wear a suit. Instructions not to study up spared him from reading briefing books or memorizing security protocols.
After the speech, the Secret Service asked if Glickman wanted a ride to the airport. He declined, saying he planned to have dinner with his daughter. It was sleeting when the motorcade left without him, making taxis scarce and the sudden return to real life especially abrupt.
“I was the most powerful man on the face of the earth, theoretically,” Glickman remembered joking to his daughter. “And then I can’t even get a cab.”
President donald tr ump speaks during a Cabinet meeting at the White House in Washington, Wednesday, February 26, 2025. Pool via a P
An aerial panoramic view of Washington, d C., featuring the Us Capitol and the national Mall—the heart of American democracy. From Cabinet secretary to doomsday president, being a designated survivor means preparing for the unimaginable. Xbrch X Dreamstime.com
VIÑA ROMERO UNVEILS
‘PALAGI’ AT RUSTAN’S
CONTEMPORARY Filipino fashion designer Viña Romero introduces her newest collection, Palagi (“Always”), exclusively at Rustan’s. Known for weaving her personal journey into her work, Romero continues to redefine timeless design through her latest collection, a testament to the enduring beauty of constancy and progress. Rooted in themes of perseverance and balance, Palagi reflects the designer’s evolving narrative. Building on the themes explored in her previous collection, Oras (“Time”), which delved into trusting life’s natural rhythms, Palagi deepens the exploration by celebrating the power of presence and the process of growth. The collection is a thoughtful interplay of tradition and innovation, highlighting Romero’s belief in balancing the ephemeral and the enduring, the practical and the artistic—trusting the process, always.
The collection showcases signature elements that define Romero’s craftsmanship. Pintucks, patchwork, pleats, and playful tailored ribbons make their mark across both menswear and womenswear, creating a seamless harmony between structure and softness. The thoughtful incorporation of traditional techniques, particularly with the barong, is paired with unexpected design elements and contemporary color palettes, underscoring Romero’s commitment to blending heritage with modernity.
Since her debut with her graduation collection Palad (“Palm”), Romero has consistently drawn inspiration from her personal and professional journey. Over the past decade, her collections have served as love letters to growth, resilience, and change. Each piece becomes not only an extension of her identity but also a canvas for her clientele to reflect their own stories, embodying relevance and meaning across generations.
A pillar of Philippine luxury retail, Rustan’s offers the ideal platform for Palagi. Its dedication to exceptional craftsmanship and artistry resonates deeply with Romero’s ethos, ensuring that her work connects with an audience that values authenticity, intention, and enduring style. The Palagi collection is exclusively available at Rustan’s.
The 9th InternationalCalgaryFashion and Arts Weekto be held at the Manila Marriott Hotel
ONE of the emerging fashion events in the burgeoning region of Calgary in Canada is set to be staged in Manila—the Calgary International Fashion & Arts Week (CIFAW).
“Manila, we are coming ‘home,’” declared CIFAW CEO/president Limuel Hayag Vilela, who was in town on February 28 to finalize the details of a press conference on March 25 to announce that CIFAW’s ninth edition will be held at the Manila Marriott Hotel on July 26 and 27, 2025.
The event coincides with Marriott Moments A-FAIR: Dream Weddings and Events Expo in partnership with Marriott Bonvoy and Themes & Motifs Bridal Fairs and Wedding Expo, and which promises to be a “fusion of Filipino-Canadian creativity and worldclass artistry.”
“We truly believe that dreams are meant to come true. They aren’t just far-off ideas, they’re the seeds of what’s possible when we have vision, take action, and never give up. For us, dreaming big isn’t just about imagining, it’s about creating a life where those dreams become our reality,” Vilela said.
CIFAW is a global celebration of fashion as well as a platform for networking, education and talks about trends, inclusivity and the future of the fashion industry. It aims to encourage and showcase creativity, innovation, and collaboration among designers, stylists, models, photographers, and journalists.
It was founded by Spotlight Couronne Internationale Inc. (www.scimodels.ca) led by FilipinoCanadians Vilela, a producer/designer and former model, and COO/chief creative director Alvin Masangkay Francia, an aviation expert and educator.
Today, the duo not only produce CIFAW but also Calgary Kids Fashion Week, Edmonton Kids Fashion Week, and Winnipeg Kids Fashion Week. In 2023, their brand SCI PH (New York and Paris) participated in the Fashion Forte series of producer/designer Nardie Presa at the Crowne Plaza Manila Galleria.
PASSION PROJECT
CIFAW began as a passion project and hobby for the two enterprising founders, who are deeply immersed in fashion and teaching. The dynamic duo first envisioned CIFAW as a community event,
volunteering their time to provide free classes for kids and teens who had experienced bullying or struggled with self-doubt.
“Fashion and the arts are such a perfect combo— they complement and elevate each other. Calgary is such a vibrant and diverse city, and we want to reflect that in our platform. So, the only thing we really look for is passion,” Francia said.
Vilela and Francia emphasize that there is no strict qualification process to be able to be a part of CIFAW.
“We both strongly believe in giving a platform to everyone, especially new and up-and-coming creatives who might not have had a chance to shine yet. Through passion, hard work, and unwavering belief in the transformative power of fashion, we gradually earned the trust and support of the community,” Vilela said.
GOING GLOBAL
IT was important for Francia and Vilela that their company name included the word “international”— because from day one, both dreamed big.
“CIFAW is absolutely not exclusive to Filipino creatives—it’s open to global talents as well,” Francia clarified. “While we’re proud of our roots and love supporting the Filipino community, this platform was created to celebrate diversity and inclusivity.” Their hope is that this endeavor serves as a bridge connecting Canadians, Filipinos, and the rest of the world through fashion, art, culture, and tourism.
Partnering with Marriott Manila is a huge step for the duo, as it’s a milestone that proves they are moving in the right direction.
“What’s really exciting about this year is that we’re expanding our mission. This partnership in Manila will not only bring global attention to Filipino creativity but also shine a spotlight on the beauty and culture of the Philippines,” Francia concluded.
Vilela maintains that their vision is to inspire every Filipino to take pride in their roots and in the place we call home—the Philippines: “Masarap
resulta ng iyong pakikipagsapalaran, paglalakbay at tagumpay. We’re coming home!” n
Gabbi Garcia relies on magnesium, ashwagandha, and collagen supplements
TWO new product launches don’t just address beauty concerns but also the need for overall health and wellness.
Actress, host, and endorser Gabbi Garcia is the brand endorser of Habit, a line of health and wellness supplements.
As someone who prioritizes her health and wellbeing, Gabbi works out three to four times a week, sleeps at least eight hours a night, and takes her Habit supplements to support her busy lifestyle.
“People tend to think kasi na okay na ’yung vitamins or okay na ’yung rest lang but it’s also important to support it with the right supplements that you need,” said Gabbi, who is one of the hosts of the new Pinoy Big Brother and costars in the Viu-GMA collaboration thrilled Slay
She takes magnesium to help her body recover from her workouts, ashwagandha to help her sleep well, and collagen for healthier and glowing skin.
We want more people to actually experience the benefit of Habit. I hope that after getting to know
Habit, you do consider building your own healthy Habits and not just start it,” said Gelo Carpena, business unit director, Wellco Bioscience, which manufactures and distributes Habit.
There are 16 Habit supplements with each bottle containing 45 softgel capsules. These are: Calcium with Magnesium + Zinc (for stronger bones), Omega 3 with CoQ10 and Squalene (for heart health), Biotin with Collagen (promotes healthy hair, skin, and nails), Carnitine with Garcinia Cambogia + Minerals (helps burn fat, promote faster metabolism, and curb appetite), Ashwagandha (has an overall calming effect), Folic Acid with Patented Iron + Zinc 180 (helps promote normal fetal development), Vegan Protein with BCAA (aids in muscle growth and helps reduce fatigue after workout), Collagen with Hyaluronic Acid and Vitamin C (helps with skin elasticity and suppleness), Barley with Wheatgrass + Spirulina (helps with natural detoxification), Inositol with Folic Acid + CoQ10 (promotes healthy ovulation), Lutein with Zeaxanthin + Vitamin E + Vitamin A (promotes eye health), Gaba with Tryptophan + Magnesium + Oryzanol (helps enhance sleep quality), Glutathione with Collagen + Vitamin C (helps achieve brighter and healthy skin), Artichoke with Vitamin E + Selenium (helps promote liver health), Magnesium with Calcium + Vitamin D (promotes bone and heart health and also helps manage blood sugar levels), and Turmeric extract with Selenium and Zinc (helps provide relief from pain caused by inflammation). Habit is exclusively available at Watsons stores and the Watsons app.
QuickFX recently launched its Pore Eraser line and the Vita Sun Drops in an event, dubbed QuickFX Hot & Cold SZN, at the SM Mall of Asia Atrium. At the event, guests got to try different hot and cold experiences, such as a UV Intensity Test and an Ice Challenge to test the new products. The QuickFX Pore Eraser line is a skincare line that has Canadian Glacial Clay and Mineral Water, which give an ice skin effect. The line includes the Pore
Moisturizing Cream. The QuickFX Vita Sun Drops is SPF 50 PA++++ in serum format. It promises to protect the skin while providing nourishment. It’s
Wilcon Cup Tournament Returns for Its 8th Year At Wack Wack
WILCON Depot made a dynamic return to the golf course with the 8th Wilcon’s Cup, held on February 18, 2025 at the Wack Wack Golf and Country Club. The much-anticipated tournament gathered avid golfers and industry leaders, celebrating camaraderie and community support in the middle of the scenic fairways.
This year, more than 100 participants took to the green, composed of Wilcon’s longtime industry partners, media friends, international and local suppliers, ABCDE+ (architects, builders, contractors, designers, engineers) professionals and the everspirited Wilcon’s team. The program began with a ceremonial tee-off spearheaded by Wilcon Depot executives; President and CEO Lorraine Belo-Cincochan; SEVP and COO Rosemarie Bosch-Ong; EVP and CPO, Careen Y. Belo; and Boysen Paints representative Richard Yap. This was
followed by a day of competitive play and networking.
The Wilcon’s Cup underscored a more profound purpose:giving back to the community. Among the beneficiaries of this year’s tournament are ABS-CBN Foundation, Inc. (AFI) Sagip Kapamilya project Bantay Kalikasan, Wilcon Builders’ Foundation, Inc., Crocodylus Porosus Philippines Inc. and the new addition to Wilcon’s roster of beneficiaries, Casa de Silencio, a retirement home for priests in the Diocese of Cubao.
“These causes are very close to our hearts: the environment, the next generation, and most of all, the Lord. Through this tournament, we are not only enjoying the sport we love but also making a meaningful impact by supporting organizations that uplift communities, protect nature, and care for those in need,” Ong said during her gratitude speech at the awarding ceremony.
While attendees mingled and enjoyed the game, the event reinforced Wilcon’s vision of creating opportunities to support and uplift others. Golf, as the “tie that binds,” brought together individuals who share the same passion for business and leisure, making room for meaningful conversations and a sense of togetherness.
This shared experience reflected Wilcon’s commitment to building strong relationships, a sentiment echoed by Belo-Cincochan: “Being your partner in every project is one of Wilcon’s greatest rewards. We look forward to continuing this partnership as we grow beyond 100 stores!”
Beyond camaraderie, the day had its thrilling moments. For Division 1, Alexander Dandan secured the champion title, edging
‘Healing Scars’ Chronicles Gay Malaysian’s Journey to Self-Acceptance and Success
THE deeply moving fictionalized memoir, Healing Scars, offers a raw and courageous portrayal of one man’s emotional journey to self-acceptance. Inspired by the true experiences of the author, this poignant story resonates with universal themes of identity, resilience, and the transformative power of love.
Following the story of Steven, a young Malaysian medical student in Scotland, the author shares Steven’s life as he grapples with childhood trauma, family dynamics, and his sexuality. Amid the pressures of cultural expectations and personal pain, Steven navigates the complexities of family rejection to ultimately find selfacceptance. Delving into the profound themes of cultural identity, family loyalty, and personal freedom, this story culminates in Steven’s journey to professional success as a leading London doctor and living and thriving as the person he always knew he was.
The author’s bravery in sharing his story not only makes for compelling reading but also serves as a beacon of hope for those struggling between self-acceptance and conservative cultural expectations.
Synopsis: A GAY Malaysian student must deal with childhood trauma,
abusive family interactions, and his own relationship struggles to accept himself, save his little sister, and grow to become a successful London doctor.
Steven, 21, is a homosexual Malaysian medical student studying in Scotland. He has a long-term boyfriend, Alistair, 22, to whom he is devoted. Nervous about his sexuality and the impact it will have on his family, Steven is reticent to openly declare himself as gay, despite Alistair’s pushing.
Steven’s father dies, leaving financial control of the family with Steven’s older sister, Zoe, 28. Subsequently, Steven’s mother and younger sister, Viv, 12, come to live with Steven in Aberdeen.
Despite his worries, Steven comes out to his mother. Angry, she disowns him and moves back to Malaysia, forcing Viv to go to Sheffield to live with Zoe.
Steven is distraught. His cultural upbringing is at odds with his sexuality, and he sees no way to patch things up with his mother. Worse, he remembers how cruel Zoe was to him when they were younger and worries for Viv. Cut off from his family and in financial difficulty, Steven concentrates on his studies and growing relationship with Alistair.
After hearing from Viv, Steven’s worst fears are proven true. As memories of his own abuse by both Zoe and his
father surface, he intervenes, determined that Viv does not suffer similar treatment to himself. In doing so, he reconnects with his mother.
Steven and Alistair enter into a civil partnership, but Alistair’s growing gambling addiction and desire for an open relationship tear them apart. Now fully qualified and beginning a career in London, Steven finds himself alone and struggling once again with his identity as a gay man. New friendships, a burgeoning medical career, and the support of a loving partner help Steven build a new life. When a sudden cancer diagnosis threatens to end it, Steven must deal with his past one final time before he can find the strength to be completely free.
The book is published by W Publishing, Healing Scars is available to purchase in paperback (ISBN No: 9798224826438) priced £15.99 and Kindle format (£3.49) on Amazon at https://tinyurl.com/cxy5nevy and https:// tinyurl.com/4akcdrtk
About the Author: DR. Vincent Wong is one of London’s leading cosmetic doctors. He is trained in advanced non-surgical cosmetic treatments and is a specialist in facial balancing and harmony.
GMC registered, he holds a Bachelor of Science in Medicine (First Class Honours) from the University of St Andrews and a Bachelor of Medicine and Surgery from the University of Aberdeen. Prior to completing his medical aesthetics training, Dr. Vincent gained extensive experience in general and plastic surgery, and in dermatology.
Dr Vincent has won several awards for his work and has been shortlisted as one of the Ultimate 100 Global Aesthetics Leaders (2019), Forbes Magazine Top 10 Emerging Doctors (2022) and NYC Times 50 under 50 (2023). He is also on the judging panel for Miss Universe Great Britain. In addition, Dr. Vincent also specialises in feminisation and masculinisation of faces within the LGBTQ+ community.
Dr Vincent is actively involved in research and has over 35 scientific publications. He often presents his work and research at national and international conferences. He is often sought after for his expert opinion and has featured in a number of popular press (Vogue, Forbes, Grazia and Tatler) and on various television channels. He has also appeared on various radio chat shows, including BBC Radios.
out Jaime Alberto Melo, who settled for a runner-up. Martin Dy Buncio took home the champion trophy in Division 2, while Don Ferrer finished as the runner-up. The Ladies Division showcased an impressive display of skill with Carla Peña clinching the champion title.
Taking home the Low Net award is Gary Go, while Albert Samaniego emerged as the Low Net Champion. Other special awardees are Eugene Lim for nearest to the Pin, Romy David for most accurate drive, and RJ Banzon took home the longest drive.
With over a hundred golfers from Wilcon ABCDE+ partners—Architects, Builders, Designers/Developers, and Engineers—the energy on the course was palpable as players balanced competition with sportsmanship.
This year’s tournament also marked a significant milestone for Wilcon—its journey to 100 stores nationwide. This achievement reflects the company’s enduring commitment to excellent service, community engagement, and strengthening relationships.
The 8th Wilcon Cup was made possible through the support of its valuable sponsors.
The Platinum Sponsors included Boysen Paints, Grohe, Sefa, and Pozzi. The Diamond Sponsors comprised ABC, Kentfloors, HCG, Alpha Chroma, Landlite, Primeo, Hills, Kessel, Heim, and P. Tech. The Gold Sponsors were Sentry and Lotus, while the Silver Sponsors featured Atlanta Industries, GT Stoneworks, Homeaid, Pacific Glass, STN, Ariston, Saigress, Bestank, Philips, Big Ass Plank, and American Standard. The event was also supported by its media partners, which included The Manila Times, Metro Channel, Homebase, Philippine Daily Inquirer, Inquirer Golf, Manila Bulletin, Business World, Summit Media, Bluprint, and BusinessMirror. Additionally, the official apparel sponsors for the 8th Wilcon Cup were Boysen Paints, Grohe, and Kohler. For more information about Wilcon, visit www.wilcon.com.ph or follow their social media accounts on Facebook, Instagram, and TikTok, or subscribe and connect with them on Viber Community, LinkedIn, and YouTube. Or you may contact Wilcon Depot Hotline at 88-WILCON (88-945266) for inquiries.
YOU hustle, you grind, you secure the bag, but is your money doing the same? If it’s just chilling in a lowinterest bank account, inflation is eating away at it every day. And let’s be real: you didn’t work this hard just to watch your money burn.
Others Burn, Maya Earns. THAT’S why actress and entrepreneur Julia Barretto turns up the heat with the #1 Digital Bank in the Philippines, showing how saving with Maya is BOOGSH! Your money can hustle, too, earning thousands through Maya’s high-yield savings. Julia in Her Savings Era Stepping into a vault with stacks of money burning away due to inflation, Julia shows why you can’t let your savings sit there.
“I’m so excited to enter my savings era with Maya! I love how Maya makes saving money easy, rewarding, and, of course, BOOGSH! This is just the beginning— we’ve got more exciting ways lined up to get everyone to join me in making their savings sexy and high-earning. “Stay tuned,” Julia shares.
Just like Julia, you can effortlessly save with Maya—no paperwork, no long lines— just real-time earnings growing every day. All you need is one valid ID and a few taps on your phone. BOOGSH! That’s it! It’s BSP-licensed, PDIC-insured, and built to make your savings work while keeping your money safe.
BOOGSH Your Interest Earnings INFLATION last year hit 3.2 percent, while the average bank’s interest rate is a measly 0.0625 percent, meaning your hard-earned money is losing value every day. It’s time to stop burning and start earning. With Maya, you can beat inflation and grow your savings with up to 15% interest per annum, paid out daily.
By using Maya for various transactions, you can save big, spend smart, and enjoy life without stressing over your bank balance. Imagine sipping cocktails on a beach, booking spontaneous trips, and saying yes to new opportunities—without worrying about money.
That’s the power of smart saving with Maya.
WILCON Depot Foundation Inc. is one of the benficiaries of the 8th Wilcon’s Cup.
PR women, work, and wellness
SINCE 1987, March has traditionally been celebrated as Women’s Month, which celebrates the extraordinary contributions of women in history and contemporary society. This year, International Women’s Day is on March 8.
And with many women in the communications industry, it’s time to focus on how changes in technology, work styles, and opportunities impact them today.
“Women are working harder than ever before and their stress levels show it,” says Jennifer Risi in an article in prnewsonline. com. In fact, a recent study by Deloitte Women @ Work Re -
Youth innovators leverage cross-border collaboration to solve shared challenges at c l imate h ack 2024 MANILA, PHILIPPINES—Three cross-border teams emerged as winners at the Singapore International Foundation’s (SIF) Climate Hack 2024 Pitch Day on 22 February 2025, marking the finale of the five-month program which began in September 2024. First launched in 2021, Climate Hack aims to equip individuals in Asia with digital skills to develop and accelerate tech-driven solutions for climate change. The winning teams were represented by 13 youths from India, Indonesia, Malaysia, Pakistan, and the Philippines. The winning ideas included strategic cross-sector partnerships to ensure scalability, personalised user experi -
ences to address unique needs, and more cost-effective alternatives to existing solutions.
More than 300 youths from 27 countries participated in the program to develop climate solutions. They received training from leading industry experts in areas such as digital proficiencies, problem-solving skills, entrepreneurial thinking, and best practices in presenting and marketing their ideas. Nine out of the ten shortlisted teams comprised youths from different countries, reflecting the criticality of collaboration in addressing climate challenges.
Mr Wan Muhamad Asyrad Wan Zaki, a member of Sustainloop and a Climate Hack 2024 winner from Malaysia said: “We formed a cross-border team—representing India, Malaysia, and the Philippines—to tap into the ASEAN network and expand our business across multiple markets. Working with people from different cultures has taught us to value diverse viewpoints, communicate clearly to avoid misunderstandings, and respect local customs
port reveals that half of working women reported higher stress levels than last year. Stress, stigmas, and safety concerns, according to Deloitte’s report, are critical workplace concerns impacting women’s careers.
Here, Risi, Founder and President of the Sway Effect shares some insights on the challenges of new ways of working and mental health from her article, “Working Together to De-stigmatize Women’s Mental Health Issues.”
WFh, hybrid work, or rto: What works best for women?
SINCE 2020, hybrid and remote work have emerged as
and practices. This approach helped us innovate faster, build stronger partnerships, and tailor our strategies for each market.”
Mr Jaryll Chan, SIF Executive Director, Programmes Division, said: “Climate change affects every single one of us as we live in an interconnected world. At the SIF, we believe in driving collaborations to develop solutions for a better world.”
Winning teams announced at Pitch day of climate hack 2024 AT P itch Day, 10 shortlisted teams presented their tech-driven solutions to a panel of judges. They addressed environmental challenges in areas such as natural resource management, land use, transport, waste management, and ecological economics.
Three winning teams were chosen based on their creativity, persuasiveness, teamwork, and the impact and feasibility of their solution. They are:
n E-Connect (Indonesia, Malaysia, Pakistan, and the Philippines)
n SustainIQ (Indonesia, Ma -
alternatives for women in the workplace. The Deloitte report explored the hybrid work option and found that these work experiences are improving, but women specifically had to make significant adjustments at work and in their personal lives following rigid Return to Office policies. It’s no surprise that a quarter of women said their mental health has been impacted, and a fifth said it has made them less productive.
Risi offers some advice to fellow PR leaders: “listen and learn from your teams.” Opening the doors to flexibility and inclusivity, she says, is a win-win for everyone.
One of the best parts about hybrid work? Risi believes it allows employers to tap into a wider, more diverse talent pool. Diverse teams and organizations continue to produce better results and are more successful.
Pr and mental health
IT’S no secret that the PR industry requires long hours, and entrepreneurs also put in their fair share. While it’s important to establish base hours for your team members, not everyone
laysia, Pakistan, and the Philippines)
n Sustainloop (India, Malaysia, and the Philippines)
Additionally, Ecovolve (Cambodia, Indonesia, and Singapore), received the People’s Choice Award. The award was based on voting on social media leading up to Pitch Day and by the live audience during the event.
Mr Ahmad Yasri Zaenuri, a member of Ecovolve from Indonesia said: “The Climate Hack programme helped to refine our solution by pushing us to challenge assumptions and ensure the scalability of our app. Under the guidance of our mentor Ms Caitlin Medley from Australia, I learnt to make our digital carbon tracking solution more actionable and better understood the business aspect of climate tech. Another highlight was the opportunity to work alongside other passionate teams in tackling the climate crisis from different angles.”
All four teams will visit Singapore in March this year to learn more about the Singapore Green
will work long hours. This is especially true for younger team members, who are very conscious about mental health.
Deloitte’s report not only found higher stress levels than last year, but also a similar number of women said they were concerned about their mental health. Empathy, understanding and flexibility are important to them, though many hesitate to talk about it at work.
In the Philippines, women continue working despite difficulties because they have to. But it doesn’t have to be that way.
Risi’s advice: “Create an open-door policy that embraces a judgement free space for discussions about burnout and increase in stress. If a company has a workplace stigma about mental health, don’t ignore it. Own up to it and create a plan to fix it.”
Working together is best
ALL in all, Risi believes that, “The PR industry [and beyond] should have the same goal in mind: empowering and enabling women to not only write their own rules.”
Listening to team members,
Plan 2030—a whole-of-nation movement to advance Singapore’s national agenda on sustainable development.
Ms Carla Gomez Briones, Climate and Sustainability Specialist, United Nations Development Program Global Centre for Technology, Innovation, and Sustainable Development (Singapore) was one of the judges at Pitch Day. She shared: “The ingenuity and depth of thought demonstrated by the teams have been truly inspiring. From tackling diverse challenges like natural resource management to rethinking waste systems, these young changemakers have shown a remarkable ability to innovate with purpose and impact. Their solutions not only address urgent climate issues but also reflect the power of collaboration across borders to create a sustainable future.”
Ms. Sheena Joy Palcis, a member of E-Connect from the Philippines said: “Climate Hack has helped me gain insights on turning my climate-resilient ideas into action. Through the workshops, I gained skills to develop an im -
creating inclusive environments, and implementing policies that prove commitment and action are key to attaining this. As mentioned, mental health has become important in the past few years. “Communicators should work together to de-stigmatize mental health issues and de-stress women at work.”
With this, “everyone needs to play a part in creating a more inclusive and supportive environment because when we do, we’re not just supporting women, we’re building a more resilient workforce for everyone.”
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.
pactful and practical solution. The feedback and resources that I received from our mentors and trainers also helped to ensure that our team’s solution remains relevant amidst a rapidly evolving global landscape. There is still much to be done in building a more sustainable society, but I am hopeful for a brighter future with all the youth-led innovations that were presented at Pitch Day!” Climate Hack 2024 was organized in collaboration with key partners Action for Change in Southeast Asia (ActSEA), Kidzstarter, and Temporary Local. It was supported by volunteer trainers and mentors from IT consultancy Cognizant, social impact organisation DataKind Singapore, and volunteering platform TheOneHourProject, as well as individual professionals who volunteered in their own capacity. Since 2021, Climate Hack has trained close to 1,000 youths from 24 countries across Asia. Collectively, the program’s participants have developed 130 digital prototypes and solutions to address climate-related challenges.
Zobel’s Erica de Luna: Quadruple-double!
ERICA DE LUNA scored 32 points, bagged 16 rebounds, made 12 steals and dished out 11 assists for a historic quadruple-double as De La Salle-Zobel blew Ateneo de Manila to smitherins, 114-24, in University Athletic Association of the Philippines (UAAP) Season 87 girls’ basketball action on Sunday at the Filoil EcoOil Centre in San Juan City on Sunday.
De Luna, 18 and playing out of Buli Elementary School in Muntilipa City, etched her name in UAAP history as the first player in all of the league’s five divisions to record a quadruple-double.
“This is a major boost as I look forward to a college career,” said De Luna, a 12th grader at Zobel.
“We actually had limited time to prepare for the season, but I’m proud of my stats and that we ended the season on a high note.”
De Luna became only the second player in recorded Philippine collegiate history to achieve the feat after Joshua Saret, who posted an incredible 89 points, 13 steals, 12 assists and 11 rebounds in Jose Rizal University’s 171-43 rout of Angeles University Foundation in
the National Collegiate Athletic Association’s 86th season juniors tournament on July 23, 2009.
“She’s really very consistent,” Zobel assistant coach Maan Moreno said. “We can’t ask for anything more from her.”
Before Sunday, de Luna averaged 18.4 points, 8.6 rebounds, 3.6 assists and 3.8 steals before the rout of Ateneo.
Moreno added: “I’m proud of how she matured in the sport, she’s hot-headed at times, but because this is the UAAP, she’s matured.”
De Luna was 13 of 21 shooting from the field for Zobel, which closed out the first round with a 2-4 won-lost record behind finalists University of Santo Tomas (5-0) and National University Nazareth School (4-1) and ahead of Ateneo (0-6).
Zobel wasted no time controlling the game by jumping to a 31-6 first-quarter lead before extending their advantage to 5912 at halftime.
By the break, the Junior Lady Archers suffocated the Blue Eagles by holding them to just 3-of-14 shooting while forcing 25 turnovers.
The second half was no different
Sports BusinessMirror
B8 | Monday, March 3, 2025 M
mirror_sports@yahoo.com.ph
Editor: Jun Lomibao
as the Zobel girls continued the rampage and outscored Ateneo, 55-12, to complete the blowout.
The Junior Lady Archers shot an impressive 47 of 99 (47.5%) from the field while dishing out 33 assists, while the Blue Eagles could only make 8 of 36 shots and fell to a staggering 51 turnovers.
De Luna had plenty of support though with Princess Cordero contributing 25 points, eight assists and five steals and Naima Navarro adding a double-double of 13 points and 13 rebounds, while Alexandra Dominguez chipped in 11 points and five rebounds.
Jian Exconde and Cesca Pangilinan each scored six points for Ateneo, while Matia Molina added four points, three assists and two rebounds.
Prado, Felipe display veteran smarts in road race
JERMYN PRADO’S showed no signs that she’s turning 32 in less than a month as she ruled the Elite Road Race to sweep all three Women Elite gold medals staked in the recent PhilCycling National Championships for Road. Marcelo Felipe, who turned 35 only
“It’s
“I’ve been relentless in training, but all these are because of the One above,” added Prado, winner of the ITT gold medal at the Philippines 2019 Southeast
in Tagaytay
supported by the POC, Tagaytay City and Excellent Noodles as well as the Philippine Sports Commission, which
Chua Jr.: Starhorse won’t be whipping boys
By Josef Ramos
Jackson Chua
O-OWNER
CJr. stressed on Sunday that Starhorse Shipping Lines would be competitive and would aspire for a championship despite purchasing a franchise that has one of the least colorful stints in the Philippine Basketball Association (PBA).
“Joining the PBA is not easy, so we have to prove ourselves that we really belong in this league with some measure of pride,” Chua told BusinessMirror on Sunday. “We want to make an impact with the players we’ll have.”
Starhorse Shipping Lines bought Terrafirma’s franchise last week with the Dyip’s governor in the PBA Board Bobby Rosales saying that the sale was “entirely a pure business decision.”
Chua said the team will debut in the league’s 50th season and not in the forthcoming Philippine Cup. “We don’t like to rush things,” he said. Terrafirma went 66-215 won-lost in 10 seasons in the PBA and reached the quarterfinals only twice—2016 Commissioners Cup and 2024 Philippine Cup.
The transfer of franchise, according to Chua, is ongoing and that he felt the entire league board are amenable
Court of Gold review
and Michelle
When I noticed Jason Hehir, who worked
Last Dance, I told myself, “No
He missed out on many key moments and people on that documentary that is why it was unsatisfyingly incomplete and controversial.”
I thought that in place of Canada that was knocked out in the quarterfinals, they should have featured Germany which is
Frenchman, Pole dominate Puerto Princesa Ironman
FRANCE’S Bastien Poupelain and Poland’s Agnieszka Najnigier-Pierzynowska showcased impressive endurance and strategy in grueling conditions on Sunday to rule the Ironman 70.3 Puerto Princesa City on Sunday.
Poupelain was strong in the swim and bike legs to build a significant lead before securing victory in the demanding race that featured a 1.9km open-water swim, a fast-paced 90-km bike race and a 21-km run.
He won the men’s overall crown in four hours, 24 minutes and 19 seconds.
Poupelain clocked 29:10 to trail
supports the national teams of cycling.
Prado clocked two hours, 39 minutes and 28.17 seconds in winning the 88-km race on a 44-km circuit covering Tuy, Balayan, Lian and Nasugbu with Maritoni Krogg coming in only a wheel behind for silver and Kate Yasmin Aquino, who’s now a mom, crossing third for the bronze medal.
Kim Bonilla, meanwhile, added the Women Under-23 road race gold medal to her victory in the ITT over the same route and distance in 2:36:38.80—Wenizah Claire Vinoya claimed silver (42 seconds behind) and Princess Jamkyna bagged bronze (46 seconds behind).
Felipe turned 35 only last February 10 but also didn’t show any sign of slowing down.
A national team mainstay like Prado, Felipe won the 215-km race in 5:02:25.49, edging Jericho Lucero by two seconds and Jeremy Lizardo by four seconds.
“We [Lucero and Lizardo] broke loose in the last 20 kms and seeing that no one else made a chase, we worked hard until the finish,” said Felipe after the race where the average speed was pegged at 43 kph.
to the team’s entry in the league that celebrates its 50th anniversary this April.
“Communications among the PBA, Governor Bobby Rosales and some governors are on track,” he said.
“There will be upcoming meetings in the next few days, so we are hoping for the best.”
Chua said his company will honor Terrafirma’s commitment to its players as he stressed that no players nor future draft picks would be traded—that means rookie Mark Nonoy, Louie Sangalang and the rights over Christian Standhardinger and Javi Gomez de Liañia stays with Starhorse Shipping Lines.
the FIBA World Cup Champions. I understand that there is a bigger audience for Canada, but still, I think you have to keep it to what is right. Think about it, along with Argentina and Spain, Germany is one country that has won a World Cup in both football and basketball.
I understand though that there are only six episodes. But LeBron
kickoff leg of the new triathlon season organized and conducted by Sunrise Events Philippines. Teves was the top Filipino finisher and earned P50,000 from the Princesa Garden Hotel. Ohata, despite a blazing swim start of 29:06, settled for fifth place overall with 2:23:34 on the bike and 1:38:04 in the run.
In contrast to Poupelain, NajnigierPierzynowska saved her best for last in the women’s division, bucking the heat to deliver a strong finishing kick and claim victory with a time of 5:33:32. She recorded a modest 40:33
Japan’s Ryosuke Ohata in the swim leg, but surged ahead in on the bike with a best time 2:15:32 and despite slowing down in the run at 01:34:36, she held on to victory.
Japan’s Hidekazu Takahashi mounted a late comeback (1:32:26 run split) but fell short by two minutes to finish in 4:26:26 (29:52 swim and 2:18:05 bike) to wind up second, while former full Ironman winner Petr Lukosz of the Czechia secured third place in 4:34:45 (00:31:11 swim, 02:18:58 bike, 01:38:11 run).
JS Teves displayed remarkable form in the bike stage, recording 2:23:00 to finish fourth overall in 4:36:44 in the
Brownlee’s become more Filipino, embraces deep sense of gratitude
USTIN BROWNLEE, Barangay
JGinebra San Miguel’s resident import in the Philippine Basketball Association, is not your ordinary naturalized player for the national team program—he’s embraced the Filipino culture and the deep sense of gratitude or reciprocity.
That’s why it was easy for Brownlee to join fellow basketball stars like Scottie Thompson and Jayson Castro and other prominent professional athletes to support Milka Romero and 1Pacman
Partylist’s advocacy for sports and youth development.
“I actually want to give back to basketball. Hopefully I can do some things with younger kids and try to help the development of basketball here in the Philippines,” said the 36-year-old forward.
Brownlee became a Filipino citizen in January 2023, thanks to the initiative of outgoing 1Pacman representative Mikee Romero who filed the House bill granting the American his Filipino citizenship.
His naturalization allowed him to become a part of the national team which ended a 61-year gold medal drought in the Asian Games in Huangzho, China, in 2023.
His endearing feats—highlighted by Gilas Pilipinas’s shock win over world No.6 Latvia in the FIBA Olympic Qualifying Tournament that ended a 64-year dry spell of the Filipinos against European teams— made him a national treasure. And Brownlee knew that none of that would happen if not for the efforts of Mikee Romero, 1Pacman and all the other congressmen and senators that made his naturalization possible.
“I definitely appreciate that. I understand it wasn’t an easy process but I just appreciate all the senators and politicians who were involved,” he said. “I can name so many but I’m just going to say everyone that was involved, I just appreciate them.” Interestingly, Brownlee now stands side-by-side with Mikee Romero’s daughter, Milka in continuing 1Pacman’s goal of helping elevate the grassroots especially in the less privileged areas in the country.
“Anything positive for the country,” Brownlee said. “I’m a Filipino citizen now so I take pride in things like that. Like I said, I want to be a big part of it or even a small part of it and help as much as I can.”
James was an afterthought with the spotlight more on Kevin Durant and Steph Curry. It is most likely, James’s last Olympics; that would have been another sub-plot. Jayson Tatum, who hardly played during the Paris Olympics was still an afterthought. That trio are all-time greats. They even revolutionized the game. While Durant is now the top American scorer in Olympic basketball, that begs the question—why do Americans not top these statistical categories? Why do Americans seem to prioritize the Olympics more than
Fiba? Or is that a fallacy? I think the producers should have (very briefly) touch on the increasing number of foreign players in the National Basketball Association (NBA). Yes, they mentioned that the MVPs of the last seven years were born outside the USA, but why not show it? Illustrate it. How many players during the Paris Olympics were on NBA rosters? I am not wholly convinced that this Serbian team is better than the 2002 Fiba World Cup champions that starred Vlade Divac, Dejan Bodiroga, Sasha Danilovic and Marko Jaric.
France had the Twin Towers of Rudy Gobert and Victor Wenbanyama. That was a concern for foes heading into the tournament. If basketball was growing all over the world, I felt that they should have sho wn even briefly how it has changed the scenes in their respective countries. I thought this would have made Court of Gold even more compelling, interesting, and convincing.
Don’t get me wrong again, I love this series, but right now The Redeem Team documentary is even better.
ERICA DE LUNA scatters 32 points, 16 rebounds, 12 steals and 11 assists in De La Salle-Zobel’s rout of Ateneo.
JERMYN PRADO noses out her rivals as Marcelo Felipe raises his hands in victory. ROY DOMINGO
