BusinessMirror March 11, 2025

FDI FLOW SINKS

By Reine Juvierre S. Alberto @reine_alberto

flow of foreign investments into the Philippines sank to its lowest level in 11 years, as policy uncertainties and global economic risks likely discouraged investors.

Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed foreign direct investments (FDI) plunged by 85.2 percent year-on-year to $110 million in December 2024 from $743 million. This is the lowest since the $102.1 million posted in December 2013.

“Policy uncertainty and global economic risks may have dampened investor sentiment, leading firms to delay or scale down expansion plans in the Philippines,” Philippine Institute for Development Studies Senior Research Fellow John Paolo Rivera told BusinessMirror

Although US President Donald Trump’s influence on the drip in

TBy Ada Pelonia @adapelonia

HE National Food Authority (NFA) will allot P10 billion for a modernization program aimed at boosting its storage and processing capacity.

The grains agency said the initiative would be funded through government allocations, with 50 percent of the budget granted last year and the remaining P5 billion included in the 2025 national budget.

The NFA said P1.5 billion would be earmarked for repairing existing warehouses to preserve the quality of palay and rice, while the P3.5 billion will be used to add 800,000 metric tons (MT) of storage capacity by next year.

NFA Administrator Larry Lacson said the new and upgraded warehouses will improve the

FDI inflows is “indirect at best,” Rivera said investor sentiment is forward-looking and his presidency is a factor in global investment decisions.

The sharp decline in net FDI inflows is also “concerning,” Rivera said, as this indicates both shortterm financial pressures on local firms and potential shifts in investor sentiment toward the Philippine economy.

The BSP said the FDI declined due to increased debt repayments by resident corporations to their nonresident direct investor.

The higher debt repayments resulted in net foreign investments in debt instruments shifting to

grains agency’s ability to store rice and palay, allowing for better management of the national rice inventory.

“This expanded capacity will help us address the current issue where our warehouse space is almost full,” Lacson said in a statement.

The NFA explained that while its current storage capacity stands at 1 million metric tons (MMT), varying rice stock quality and age often hinder full utilization. With this, the agency said the new warehouses, combined with updated milling and drying equipment, would maximize storage efficiency.

Processing efficiency MEANWHILE , the remaining P5 billion for rice mills, dryers, and silos would focus on improving processing efficiency,

By Bless Aubrey Ogerio @blessogerio

THE country’s agricultural trade gap narrowed in January 2025 as export receipts improved during the period, according to the Philippine Statistics Authority (PSA).

Preliminary data from PSA showed a $1-billion agricultural trade deficit for the month, lower by 2.8 percent than the $1.29 billion recorded a year ago.

Overall agricultural trade, meanwhile, climbed to $2.43 billion in January, 15.4 percent higher than last year’s $2.01 billion. The country earned $715.25 million from outbound shipments of agricultural products, a 32.8-percent jump from $538.68 million a year ago. These accounted for 11.2

percent of the country’s total exports for the month.

“The top 10 commodity groups in terms of value of agricultural exports contributed $699.89 million or 97.9 percent to the total agricultural export revenue in January 2025. The combined agricultural export value of these top 10 commodity groups posted an annual increase of 33.6 percent during the month,” the PSA said.

Leading the list were animal and vegetable fats and oils, which generated $263.87 million or 36.9 percent of total agricultural exports. Exports to Asean countries reached $118.19 million, accounting for 12.4 percent of total exports to the region. The top three exports were fats and oils ($63.98 million), tobacco products ($26.07 million) and cocoa preparations ($5.29 million).

Malaysia was the top buyer, accounting for $77.56 million, or 65.6 percent of total exports to Asean. Meanwhile, agricultural imports reached $1.72 billion in January, comprising 15 percent of total imports. This was 9.4 percent higher than the $1.57 billion recorded in January 2024.

“The top 10 commodity groups in terms of value of agricultural imports amounted to $1.41 billion or 82.3 percent of the total agricultural import revenue in January 2025.

The combined agricultural import value of these top 10 commodity groups posted an annual increase of 4.4 percent in January 2025 relative to its value in the same month of 2024,” the agency said.

Among the groups, cereals topped the list, accounting for $328.02 million or 19.1 percent of

total imports. Agricultural imports from Asean countries hit $660.53 million in January, making up 21.8 percent of total imports from the region. The top imports were fats and oils ($171.86 million), cereals ($146.94 million), and miscellaneous edible preparations ($121.64 million). Vietnam remained the top supplier of cereals to the Philippines, accounting for $192.16 million, or 29.1 percent of total Asean agricultural imports. According to PSA, the International Merchandise Trade Statistics serve a key role in computing the balance of payments, estimating national accounts and guiding policy formulation for economic planning and trade agencies. It also supports research and other relevant initiatives.

Manufacturing rises in Jan on basic metals production

By Bless Aubrey Ogerio @blessogerio

ASURGE in basic metals production helped boost manufacturing growth in January 2025, according to the latest data from the Philippine Statistics Authority (PSA).

The value of net sales index (VaNSI) for manufacturing climbed 7.1 percent, picking up from 6.7 percent in December and recovering from a 4.8-percent drop in January 2024.

Basic metals soared 35.6 percent from 10 percent the previous month, contributing 44.4 percent to the overall trend. On the other hand, electrical equipment and beverages also saw strong growth, rising 48.6 percent and 15.6 percent, respectively.

The steepest annual drop came from other non-metallic mineral

products, down 6.7 percent.

“Furthermore, 13 out of the 19 remaining industry divisions exhibited annual increments in their VaNSI during the period, while the other six industry divisions posted annual drops,” the PSA stated.

Rounding out the top three contributors to VaNSI’s annual growth in January were food manufacturing and machinery and equipment (excluding electrical).

Meanwhile, the volume of net sales index (VoNSI) grew at a slower 6.3 percent in January,

slightly down from 6.6 percent in December, but recovering from a 3.8-percent decline a year earlier.

The slowdown was primarily due to a 7.5-percent contraction in computer, electronic, and optical products, reversing a 14.3 percent surge in December. Declines in coke and refined petroleum products (down 6.2 percent from 3.5 percent growth in December) and paper and paper products (down 2.2 percent from a 12.7 percent increase) also weighed on growth.

“Furthermore, three out of the 19 remaining industry divisions exhibited annual declines during the period. Meanwhile, 16 industry divisions posted annual increases in January 2025,” said the statistics agency, with food manufacturing and machinery and equipment (excluding electrical) among the top contributors to VoNSI growth.

On the production side, the value of production index (VaPI) expanded 4.0 percent, up from 0.4 percent in December and rebounding from a 1.4-percent decline in January 2024. The ac -

celeration was driven mainly by food manufacturing, which grew 9.3 percent from 1.4 percent in December, accounting for 31.5 percent of the overall trend.

The steepest annual drop was in computer, electronic, and optical products, down 8.8 percent.

“Of the remaining 19 industry divisions, 12 exhibited annual increments in their VaPI during the period, while the other seven industry divisions posted annual drops,” per the PSA.

Similarly, the volume of production index (VoPI) rose 3.2 percent, up from 0.4 percent in December, reversing a 0.3-percent contraction in January 2024.

“Of the remaining 19 industry divisions, 11 posted annual increases in January 2025. Meanwhile, eight industry divisions exhibited annual declines during the period,” PSA said.

According to the PSA, the Monthly Integrated Survey of Selected Industries (Missi) provides timely indicators on manufacturing sector performance, tracking trends in production and net sales based on value and volume indices.

net outflows of $19 million in December 2024, coming from $618 million in net inflows in December 2023.

“Higher debt repayments suggest that resident firms are prioritizing deleveraging over reinvesting capital, which may reflect tighter financial conditions or concerns over profit margins,” Rivera said, adding that higher global interest rates make borrowing more expensive and discourage new investments.

Similarly, reinvestment of earnings declined by 14.7 percent to $80 million in December 2024 from $94 million in December 2023.

Meanwhile, nonresidents’ net investments in equity capital (other than reinvestment of earnings) rose by 58.0 percent, reaching $49 million from $31 million a year ago.

The BSP said equity capital placements in December 2024 came primarily from Singapore, Japan, the United States and South Korea.

The investments were mostly directed towards information and communication; manufacturing; financial and insurance; construction; and real estate industries, the BSP added.

Still, a drop in FDI inflows could limit investment-driven growth in sectors reliant on foreign capital, such as manufacturing, infrastructure and IT-BPO, Rivera said.

Lower FDI inflows may also weaken the Philippine peso by reducing US dollar supply, increasing reliance on volatile portfolio flows and potentially slowing job growth in FDIdriven industries, Rivera added.

Full-year FDI FOR 2024, FDI net inflows amounted to $8.930 billion, short of the BSP’s forecast of $9 billion in FDIs. The full-year FDI was flat, only 0.1 percent higher than the $8.925 billion recorded in 2023. In terms of nonresidents’ net investments in equity capital (other than reinvestment of earnings), the data showed this improved by 42.4 percent to $1.540 billion from $1.081 billion in 2023. The data showed nonresidents’ reinvestment of earnings fell by 11.2 percent to $1.165 billion from $1.311 a year ago. Nonresidents’ net investments in debt instruments also contracted by 4.7 percent to $6.225 billion in 2024 from $6.533 billion in 2023. Countries like Vietnam and Indonesia, Rivera said, may have drawn in more FDI by offering stronger incentives or creating more favorable business environments. Investors might be holding off on investments until there is clarity on key economic reforms, tax policies and regulatory frameworks, he added.

briefed the President on,” Clavano said.

“It is up to him to interpret that and to decide which is best for our country,” he added. Clavano also clarified that any request coming from the Interpol would have to be evaluated by the National Central Bureau (NCB) before it can be implemented.

The NCB, he said, is composed of the Philippine National Police (PNP), the Bureau of Immigration (BI) and the National Bureau of

Investigation (NBI). While the country is obliged to cooperate with the Interpol’s issuance of a red notice, it would still have to be evaluated by the NCB to determine its validity and if all the required supporting documents are complied with.

“So if ever the Interpol has a request, the NCB will process it and will act on the request,” Clavano pointed out.

Interpol notices are international requests for cooperation or alerts allowing police in member countries to share critical crimerelated information.

Technology—which will conduct its own assessment.

The Comelec en banc will then vote on the findings to finalize the system’s approval.

“The actual certification usually happens about two weeks before the election because it has to go through a process,” Cobb added.

Comelec Chairman George Erwin M. Garcia also assured the public that the commission is not violating any law mandating sys-

increasing rice recovery rates, and enhancing farmers’ livelihoods.

With the new drying facilities, the NFA said farmers could sell palay with higher moisture content, removing the burden of drying it themselves. This would help stabilize prices for producers and consumers by ensuring consistent rice quality.

“These facilities will be a game changer for the NFA, enabling us to purchase rice with moisture content above the current 14 percent requirement,” Lacson added. This would prevent traders from potentially manipulating moisture levels in palay to drive down prices, he explained.

According to the NFA chief, several plots of land have been donated to the grains agency or made

A red notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. Clavano also noted that there is no existing arrest warrant or subpoena issued against Duterte in connection with the inciting to sedition and unlawful utterances filed by the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) over his remarks on the option to kill 15 senators to give way for his senatorial bets under the PDP-Laban in the coming 2025 national and local elections.

tem certification at least 90 days before election day.

“If people say the law requires certification three months before elections, does that mean we’ve been violating it since 2010? Because we’ve never complied with that timeline. We believe that the three-month rule is directory, not mandatory,” Garcia explained.

The TEC has consistently issued certifications for the automated election system just weeks before election day, with the 2022, 2019, 2016, and 2010 certifications all occurring in early May or late April.

available for use through usufruct agreements for the construction of new warehouses in Mindanao and Luzon.

“Notably, the land in Mindoro is crucial, as the region’s current storage capacity falls far short of demand.”

The NFA said the modernization projects are expected to be operational by the end of next year, in time for the summer harvest of 2027. It added that the full upgrade across all regions would include silos in major rice-producing areas such as Cagayan Valley and Central Luzon, allowing the NFA to store rice for up to two years, longer than the usual six months to one year timeframe for bagged rice.

Despite the increased storage capacity, Lacson stressed the need for regulatory reforms that would allow the NFA to manage rice buffer stocks more effec -

The DOJ spokesman said the case is still undergoing case buildup by prosecutors.

However, in 2013, the certification process was irregular as the source code review took place only after the elections, and the TEC report did not include a formal escrow with the Bangko Sentral ng Pilipinas (BSP).

For this election year, Garcia said that Comelec has already deposited the source codes of the ACMs, Election Management System, and Consolidated Canvassing System with the BSP. The commission is now only waiting for BSP’s approval to store the source code for the overseas voting system. Justine Xyrah Garcia

tively and regularly free up storage space for the procurement of palay.

“Ideally, one-twelfth of our buffer stocks should be disposed of each month to facilitate better reserve management,” he said. The law currently prohibits the grains agency from intervening in the market by selling its rice stocks to the public. However, upon the recommendation of the National Price Coordinating Council (NPCC), the Department of Agriculture (DA) declared a food security emergency, which allowed it to release NFA rice reserves to local government units (LGUs) and other agencies to reduce the prices of the food staple.

This year, the NFA is targeting to procure as much as 880,000 MT of palay to meet its new buffer stock requirement of 15 days as stipulated under the amended Rice Tariffication Law (RTL).

A4 Tuesday, March 11, 2025 www.businessmirror.com.ph

DOTr fires 3 OTS personnel over ‘tanim bala’

By Butch Fernandez @butchfBM & Lorenz S. Marasigan @lorenzmarasigan

HE Department of Transportation

T(DOTr) has ordered the dismissal of three personnel from the Office for Transportation Security (OTS) following allegations of their involvement in the “ tanim-bala” or bullet-planting scheme at the Ninoy Aquino International Airport (Naia).

On Monday, Transportation Secretary Vince Dizon said the agency would not tolerate any misconduct in airport security operations, ordering an “appropriate investigation” of the incident that involved a senior citizen.

He also noted that “proper administrative charges” will be filed, following the investigation.

“We will not stand for any abuse. Any abuse will be dealt with the same result

and the same swift action from us, as mandated and as ordered to us by the President himself. We will not allow this to happen,” he said.

Sixty-nine-year-old Ruth Adel was seen in a video online accusing OTS personnel of falsely claiming that a bullet casing was inside her luggage.

Adel recounted how airport staff initially said an x-ray scan detected an object resembling an “anting-anting” (amulet) shaped like a bullet.

However, a subsequent manual inspection of her bag did not reveal any bullet casing.

While the OTS has yet to conclude its investigation, Administrator Arthur Bisnar acknowledged that the security screening process was not handled correctly.

“Ang sinasabi ng ating personnel ay nagmamadaling kunin ng pasahero ang bagahe nila. So kahit may na-detect sila na mukhang basyo o bala sa x-ray, nung tiningnan nila ay nakuha na ng pasahero,”

he narrated.

The standard operating procedure, he explained, requires an immediate physical check, hence the “mistake” on the part of the OTS personnel.

Dizon has since ordered a reassessment of security screening measures at Naia and announced plans to establish a hotline where passengers can report any security concerns.

The recent incident has reignited public concerns over the controversial “ tanimbala” scheme, which has previously led to detentions, extortion allegations, and damaged the Philippines’ aviation security reputation.

Meanwhile, the New Naia Infrastructure Corp. (NNIC), the private consortium overseeing Naia operations, said it will work with the OTS to “reinforce security monitoring, proper screening procedures, and transparency in security operations” to prevent similar incidents from happening.

“Our priority is to maintain an airport

BI arrests 2 more Korean fugitives

By Butch Fernandez & Joel R. San Juan @jrsanjuan1573

THE Bureau of Immigration (BI) on Monday announced the arrest of two more South Koreans who are being sought by authorities for robbery and illegal gambling charges.

In a statement, Immigration Com -

missioner Joel Anthony Viado identified the foreign fugitives as 38-year-old Sim Sooryong and 40-year-old Kim Kwanghyun.

Viado said the two aliens were arrested on March 3 in separate operations conducted by operatives from the BI’s Fugitive Search Unit (FSU) in the cities of Cebu and Parañaque.

Both, who are subjects of red notices from the Interpol, were arrested at the

environment that is safe and efficient for all travelers,” the company said.

Poe on ‘tanim-bala’

THE former chairman of the Senate Public Services Committee on Monday expressed disgust over the apparent resurrection of “ tanim-bala” operations in the country’s premier airport, after a 69-year-old woman was accosted just minutes before final boarding with an alleged “anting-anting” scanned in her bag, almost missing her flight.

“I welcome the swift action of DOTr Secretary Dizon on the “ tanim-bala” incident. As the investigation proceeds, we hope assistance could be extended to the 69-year-old victim of this disturbing case.” Poe said.

Poe, who earlier served as Chief of Public Services panel chief when the spate of “ tanim-bala” scandals erupted at the Naia, recalled in a statement that, “Innocent travelers do not deserve the trauma and

Pagasa expects 16 to 19 storms in ’25

request of the South Korean government which sought the BI’s assistance in locating and deporting the fugitives.

“They will then be blacklisted and banned from re-entering the country,” Viado stated.

Sim was arrested in barangay Talamban, Cebu City, by virtue of an arrest warrant issued by the Changwon District Court on November 26, 2024 following his indictment for allegedly conspiring with an accomplice in robbing a victim after attacking the latter with axe on the back of the head and other parts of his body.

The suspects allegedly threatened and forced their victim to transfer 25 million won into their bank account while the latter was restrained with duct tape.

On the other hand, Kim was arrested along Dr. A. Santos Avenue, San Dionisio, Parañaque City.

A warrant for his arrest was issued on March 18, 2016 by the Gwangju District Court for alleged violation of Korea’s national sports promotion act.

Kim was accused of setting up and operating several online gambling sites since 2015 through which he reportedly amassed over 16 billion won from sports betting tickets sold online.

Investigation revealed that both Koreans are already overstaying in the country.

Based on the records, Sim’s last arrival in the Philippines was on February 3, 2019 while Kim arrived on January 28, 2018.

The two are now detained at the BI warden facility in Camp Bagong Diwa, Taguig City pending deportation procedings against them.

Complicit

WHILE hailing the re-arrest of a Korean fugitive and the investigation ordered by the Bureau of Immigration on its personnel involved in the escape of the Korean fraudster last week, Sen. Anna Theresia “Risa” Hontiveros on Monday noted that the evidence so far confirmed “complicity” of Bureau insiders who apparently abetted the escape.

See “Korean,” A5

THE country is expected to be hit by 16 to 19 typhoons in 2025, below the average compared to previous years, owing to the absence of the El Niño and La Niña weather phenomena, the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa).

The state weather bureau also said that while the heat index has been rising in previous weeks but the dry season has yet to officially start.

In a press briefing in Malacañang on Monday, Pagasa spokesperson Analiza S. Solis said the projection is based on their forecast that the country will soon enter El Niño-Southern Oscillation or Enso neutral condition or the state when the country has no El Niño and La Niña phenomena.

She said they also observed a decrease in the number of typhoons, which affected the country in the last six decades.

“So if we will consider the trend in the number of typhoons in the past 65 years based on the historical data, it is decreasing that is why we forecast 16 to 19 [typhoons] based on historical trend and based on average the number of typhoons when there is no El Niño or La Niña,” Solis said in Filipino.

On the rising temperatures in many parts of the country, Solis said they have yet to declare the the start of the summer season due to the lingering effects of the Northeast Monsoon.

“If there will be an imminent termination of the northeast monsoon, that is the time when will be headed to the warm and dry season months,” she said.

She said the w eather bureau expects the summer season this year will be milder compared to 2024, when the country suffered from the dry spell and droughts caused by El Niño.

However, she warned that temperatures is still expected to soar to 39.6 or 39.8 degree Celsius by the end of April or the first week of May.

Last week, Pagasa projected some parts of the country may suffer from 42 degree Celsius heat index. The Department of Health (DOH) warned the public on the negative health effects.

trouble caused by rogue airport personnel supposed to provide security, not imperil their safety.”

Concerned airport authorities, Poe stressed, must readily get to the bottom of the incident. “They must not allow this defanged scheme to make a comeback to pester passengers anew.”

She added: “It will be recalled that at the height of the tanim-bala’ scandal—where travelers were subjected to harassment over apparently planted bullets, which some Filipinos consider amulets, were supposedly found in their luggage.

Poe was reacting to a Facebook post on Sunday by senior citizen Ruth Adel, who almost missed her flight to Vietnam after she and her daughter were accosted at final boarding, with officers insisting her luggage showed a “ bala” on x-ray.

NNIC statement

NAIA operator NNIC said in a statement that “passenger safety and security at

Ninoy Aquino International Airport is a shared effort among multiple government agencies, each with its own responsibilities. The Office for Transportation Security (OTS), under the Department of Transportation, is solely in charge of security screening, including x-ray baggage inspections.

“Regarding reports of a suspected empty bullet shell detected in a passenger’s bag during screening at Naia Terminal 3, NNIC immediately coordinated with OTS and reviewed CCTV footage related to the case.”

“OTS has taken the lead in the investigation and will be issuing a statement to discuss their findings and any next steps.”

“To prevent similar incidents and strengthen public confidence, NNIC is working with OTS to reinforce security monitoring, proper screening procedures, and transparency in security operations. Our priority is to maintain an airport environment that is safe and efficient for all travelers.”

Fictitious names on Sara’s list strengthen case–solon

By Jovee Marie N. dela Cruz

THE revelation of fictitious names such as “Pia Piatos-Lim,” “Renan Piatos,” and “Xiaome Ocho” as alleged beneficiaries of Vice President Sara Duterte’s confidential funds has further bolstered the impeachment case against her, according to a member of the House prosecution panel.

Manila Rep. Joel Chua, who is part of the House prosecution team and chairs the House Committee on Good Government and Public Accountability, said that these questionable transactions reinforce the claim that public funds were misused.

“This serves as proof that our evidence is growing stronger. These will be included in our articles of impeachment. Again, the question remains: if these names are fictitious, where did the money go?” Chua said during a press briefing at the House of Representatives on Monday.

The House panel intends to present acknowledgment receipts and other pertinent documents as evidence once the Senate begins impeachment proceedings.

To ensure efficiency in case preparation, the House prosecution panel has requested office space within the Senate building to serve as a work area during the trial. Chua emphasized that having a designated space would facilitate a smoother process.

“As of now, we are in the process of requesting a room to serve as the team’s workspace so that our preparation continues seamlessly and we can familiarize ourselves with the area,” Chua said.

He added that this workspace would be crucial for the legal team and support staff responsible for research, documentation, and coordination throughout the impeachment process.

“We are still waiting for the Senate’s response to know if our request will be granted promptly,” he added.

When asked if he would personally inspect the Senate office, Chua said it would depend on availability.

“If someone is available from our team, we can accompany them,” he said.

Chua underscored the essential role of the House secretariat in organizing and verifying documentary evidence related to the impeachment complaint, including

receipts and other financial records.

“The job of our staff and the secretariat is to expedite our work,” he said. He stressed that the secretariat plays a critical role in filtering and compiling necessary attachments that will strengthen the case against Duterte.

“Yes, they are involved. They also conduct legal research and serve as our backstop to ensure the smooth flow of our work,” Chua said.

Extra-judicial killings

CHUA said the extrajudicial killings (EJK) case against impeached Duterte, as outlined in the Articles of Impeachment, is supported by strong testimonial evidence and could lead to a conviction.

Chua confirmed that Article 5 of the impeachment complaint, which accuses Duterte of high crimes, including murder and conspiracy to commit murder, is backed by direct testimony from former Davao police officer Arturo Lascañas.

“If I am not mistaken, this is under Article 5 of our impeachment complaint. As far as we are concerned, there is testimonial evidence from Lascañas. So, there is direct evidence supporting this claim,” Chua said. He emphasized that the presence of direct testimonial evidence strengthens the case against the vice president.

“So, if you ask me how strong the case is, given the testimonial evidence, I would say it is solid and strong,” he added.

Chua explained that the impeachment complaint was carefully crafted and selected from the original complaints filed against the vice president, ensuring that only the strongest allegations backed by substantial evidence were included.

“Well, if you ask me, the strongest cases are Articles 1 to 3. But for the Articles of Impeachment we filed, there are only seven. These were thoroughly reviewed and selected from previous complaints, ensuring that they are backed with evidence,” he stated.

He added that Article 5 includes Lascañas’ sworn statement regarding Duterte’s alleged role in Davao’s bloody anti-crime campaign when she was still mayor.

www.businessmirror.com.ph

Economy

DTI: Boeing satellite to boost PHL digital transformation

BBy Andrea E. San Juan @andreasanjuan

OEING is targeting to launch a satellite that will provide communications service in Southeast Asia, including the Philippines, by mid-2025, the Department of Trade and Industry (DTI) said.

Trade Secretary Cristina A. Roque said she met with officials of Boeing Satellite Systems last March 4 at the company’s El Segundo, California facility. Roque

said the Philippines is “strategically positioning itself as a rising force in the global aerospace and satellite technology landscape.”

During the meeting, Boeing President for Satellite Systems International Ryan Reid, provided an in-depth briefing and facility tour, showcasing Boeing’s cutting-edge satellite technologies and their potential to “revolutionize” the Philippines’ telecommunications, defense, and digital connectivity.

“Notably, Boeing plans to launch the

Oil companies announce hefty rollback

By Lenie Lectura @llectura

OIL COMPANIES announced on Monday another price rollback this week.

In separate announcements, oil companies said they will slash the price of diesel by P0.90 per liter while the price of gasoline will drop by P1.70 per liter. A bigger rollback for the price of kerosene is set at P1.80 per liter.

The new pump prices will take effect 6.a.m of March 11. This is the second straight week that industry players will implement a downward adjustment in fuel prices.

Last week, gasoline fell by 90 centavos per liter, diesel by 80 centavos per liter and kerosene by P1.40 per liter.

The Department of Energy (DOE) said movements in the world oil market pushed local pump prices to go down. Director Rodela Romero of the DOE-Oil Industry Management Bureau (DOE-OIMB) cited a build up of commercial crude oil stockpiles of US and plans of OPEC+ to increase their outputs by April.

Meanwhile, the DOE on Monday enjoined all liquefied petroleum gas (LPG) industry players to fully comply with Republic Act 11592, or the LPG Industry Regulation Act (Lira), to avoid substantial administrative and criminal penalties, including business closure and permanent disqualification from engaging in any LPG activity.

The Lira was enacted to protect the interests of end-consumers and establish standards of conduct for the LPG industry. Towards this end, it institutes reforms in these standards of conduct and the codes of practice

“Kumpirmadongaang CCTV: hindilang basta nakatakas ang puganteng Koreano mula sa Bureau of Immigration, sadya siyangpinatakas.[The CCTV confirms it: the fugitive Korean did not just escape from the bureau; he was deliberately allowed to escape],” she said.

She added, “Even if they have been rearrested, it's concerning that if we did not raise a howl about the circumstances surrounding this case,” there would not have been an order for a massive manhunt.

The senator declared: “This is symptomatic of their failures and offenses in handling erring foreign nationals.” Hontiveros, who had been running after corruption in the BI the past several

“He mentioned something, which was quoted in that article, though I don’t recall exactly. But it was sourced from the Quad Comm. It was obtained from the Quad Comm,” Chua explained.

The impeachment complaint against Duterte includes seven charges, which have been divided among House prosecutors for thorough review and presentation before the Senate.

“The process is ongoing. Just like before, the articles have been assigned to different prosecutors. Each one has their

satellite that will provide communications service in Southeast Asia, including the Philippines by mid of 2025, which will be serviceable by 2026, critical to the country’s digital transformation agenda,” the DTI said in a statement.

For her part, Roque said the Philippines sees huge potential in leveraging the aerospace giant’s expertise to develop the country’s aerospace industry, satellite technology, and digital infrastructure.

“With Boeing’s presence in our aviation sector and growing engagement in defense

for the industry and aims to ensure compliance with the standards for health, safety, security, environment and quality applicable to the activities in the industry.

These activities include the importation, refining, storage, export, refilling, transportation, distribution and marketing of LPG, and the importation, manufacture, requalification, repair, exchange, improvement and scrapping of LPG pressure vessels, LPG seals and other ancillary equipment.

Accordingly, all establishments engaged in LPG activities are mandated to comply with the LIRA and applicable rules and regulations of the DOE and the Department of Trade and Industry (DTI).

As a deterrent to unauthorized activities that may lead to adverse consequences to public health, public safety, security and environment, the LIRA provides substantial administrative and criminal penalties, including fines of up to P100,000 for every non-compliant item, material or equipment, such as LPG seal or pressure vessel, business closure and permanent disqualification, and imprisonment of up to 12 years.

As of December 2024, there are 6,952 registered LPG players.

“These penalties are designed to protect consumers, prevent hazardous incidents, and maintain the integrity of the LPG industry sector,” Sales said. “By enforcing strict safety measures, we ensure that only legally sourced and properly handled LPG products reach the market, underscoring the government’s unwavering commitment to public safety and product quality,” he added.

years—starting with the Pastillas scam and the anomalies associated with the entry of foreign tourists, usually Chinese, who end up as Pogo workers, lamented in a statement: “Mukhanghindimawala-wala ang kultura ng korapsyon sa ahensya [It seems the culture of corruption is hard to vanquish in the agency].”

Moreover, she vowed that “We will pursue this at the next Subcommittee hearing.”

She revealed plans to subpoena the CCTV footage, including the CCTV inside Pegasus, a high-end nightclub in Quezon City where the transaction involving the “escape” of the fuigitive was supposedly carried out. The Korean had “escaped” enroute to a court hearing in a QC court.

She suggested that Viado ensures that BI officials “involved in this shameful incident be imposed the strictest penalties, including criminal liability under Article 223 of the Revised Penal Code.”

assignments, and at the same time, we are studying the substance of each article and the possible legal issues we may face,” he said.

Chua confirmed that he was assigned to handle the charges related to the misuse of confidential funds and bribery.

Other House prosecutors have taken charge of the remaining articles, including the EJK-related charge under Article 5. “If I am not mistaken, Congressman Lawrence [Defensor] and another colleague are handling it. I’m just not sure if it’s Congressman Rodge [Gutierrez] with me. But definitely, Congressman [Romeo] Acop and Congresswoman Jinky [Luistro] are involved,” he said.

and satellite communications, there is much to explore in terms of knowledge transfer, manufacturing, and investment.”

Roque also extended a formal invitation to Boeing to explore investment opportunities under the CREATE MORE framework, which provides enhanced tax incentives for high-tech industries.

She told Boeing officials that the Philippine government is keen on fostering a sustainable aerospace ecosystem, with potential engagements ranging from satellite manufacturing to digital

infrastructure development.

According to DTI, the Philippines already contributes significantly to Boeing’s global supply chain, with 10 Filipino companies producing vital components for commercial aircraft programs, generating around $100 million in turnover.

“With its rapidly expanding digital economy and increasing global interest in aerospace investments, the Philippines is poised to emerge as a key player in space technology and advanced manufacturing.

Boeing’s longstanding partnership with the

country, dating back to its early collaboration with Philippine Airlines, provides a solid foundation for deeper cooperation in these forward-looking sectors.”

With this, Roque said the country is eager to continue working with the leading global aerospace firm to build a “more connected, resilient and future-ready Philippines.”

“Our focus on innovation and strategic industry alliances will ensure our competitiveness in the evolving global digital and aerospace arena.”

PTRI ties up with PhilFida to bolster cotton industry

EBy Bless Aubrey Ogerio

FFORTS to strengthen the local cotton industry are gaining ground as the Philippine Textile Research Institute (PTRI) and the Philippine Fiber Industry Development Authority (PhilFida) are teaming up to increase production and promote its use in textile manufacturing. Recently, PTRI distributed local cotton to weaving communities nationwide, equipping artisans with

training programs to refine their skills in handling natural fibers. Unlike synthetic materials, natural cotton requires distinct weaving techniques, prompting the need for specialized training.

“We are here, we are open to engage. We have engineers and textile experts. We are on the same page with DAPhilFida,” said PTRI Director Julius Leano Jr. during the Innovation Dialogue held at the PTRI Building.

Meanwhile, PhilFida Executive

How Knowledge Work will evolve

By Henry J. Schumacher

ARTIFICIAL intelligence can mimic the abilities that define knowledge work—like creativity, critical thinking, and our ability to reason— remarkably well. If you are a knowledge worker, that’s pretty scary! But one way to move beyond that is to ask: If AI can do these things, what new skills will the technology unlock? A new cognitive frontier is here.

We have to understand how using AI affects our critical thinking in three main ways:

From gathering information to verifying information. AI tools can gather and curate large amounts of information in response to a prompt. They’re far more efficient than we are at it—but it falls to us to check the AI’s accuracy. To do that, humans will need to have a certain level of subject-matter expertise.

From solving problems to integrating AI output. As AI becomes more proficient at providing solutions to prompts with clear answers, we will be able to spend more time deciding whether models’ responses fit the context of our request. Exercising good judgment—knowing what makes something not just correct

Director Arnold Atienza underscored the strong demand for locally grown cotton. “We have the raw materials, and with both agencies working together, we can achieve so much more,” he said during the event.

Data from the Philippine Statistics Authority showed that local cotton production averaged 30 metric tons between 2019 and 2021. Meanwhile, in 2024, PhilFIDA reported a successful commercial harvest of Bt cotton, a

genetically modified variety resistant to cotton bollworm infestations.

“With this resistance, farmers can expect an increase in yield from 1 MT [metric ton] to 3 MT ensuring a stable supply of locally produced cotton yarns for our weavers.” Both agencies emphasized the need to bridge supply chain gaps, strengthen the weaving sector’s capabilities, and ensure that local cotton is maximized for high-quality textile production.

in the AI era: And we have to be part of it!!

prioritizing adaptability over resistance will serve us better in the long run.

but also meaningful—will take on increased importance.

From executing tasks to overseeing them. 2025 has been dubbed “the year of AI agents” with good reason. We must focus on allocating resources and managing different AI models. The new paradigm of service as a software—a product model in which software provides an end-to-end service (instead of being just a tool) by taking on the tasks that would otherwise require significant human effort—is perhaps an extreme version of this shift.

The uncomfortable reality of progress: We may be able to adapt our cognitive skillset to thrive in the age of AI, but it would be naive to think it’s not going to be challenging. There are very real trade-offs that we’ll have to grapple with.

When it comes to AI, I believe that

Salceda hails progress in Slex TR5 engineering design

THE chairman of the House of Representatives’ Committee on Ways and Means on Monday welcomed the Toll Regulatory Board’s (TRB) announcement on the impending approval of the final engineering design for the first segment of the South Luzon Expressway Toll Road 5 (TR5), saying that it will greatly lower the cost of transporting goods to Bicol and provide muchneeded relief to both truckers and commuters.

Albay Rep. Jose Clemente “Joey” Sarte Salceda said this milestone paves the way for the commencement of actual construction work on the expressway segment.

Salceda emphasized that for Albay, the most crucial infrastructure link would be the arterial roads leading to the Bicol Ecozone in Libon. The ecozone has already secured approval from the Philippine Economic Zone Authority (Peza) Board and is expected to be officially proclaimed within the year.

“For Albay, the most important linkage would be arterials to the Bicol Ecozone in Libon, which has already been approved by the Peza Board and will be for proclamation probably this year. Once you have Slex and the Bicol Ecozone, plus DA’s planned agricultural super port there, food costs will go down for much of Albay, and we will have as many as 8,000 new manufacturing jobs. So, we will definitely pursue arterials from SLEX to Libon,” he said.

The TRB recently announced that the final engineering design approval covers the first segment of TR5, stretching from Lucena to Gumaca, Quezon.

“Along with ongoing works for TR4, the Lucena-Gumaca segment will bring much-needed relief to commuters and truckers alike and will reduce the cost of bringing goods to Bicol significantly,” Salceda said.

“The lack of strong land transport links to Calabarzon [Cavite, Laguna, Batangas, Rizal and Quezon] effectively makes Bicol an island, which makes us vulnerable to stress on food and supply of other essential goods during emergencies. It also makes our supply chains with Manila very expensive to maintain,” Salceda added. Jovee Marie N. dela Cruz

We didn’t abandon writing after the printing press, and we won’t stop thinking because of AI. Our skills will settle around overseeing and evaluating, instead of raw creation. This shift will be uncomfortable—we’ll likely lose some depth in areas AI handles well—but the trade-offs enable new capabilities we are only just beginning to imagine. The only way to discover them is to lean into using the new technology.

In other words, as the Knowledge

Workers we all want or need to be, we have no choice but to adopt AI with the clear understanding, that we, as humans, will stay in control. As much as economic teaches us that artificial intelligence can increase factors of production efficiency, we better keep in mind that we are better than AI: we are humans with stories to tell, with fire and advocacy a robot may not have.

I hope you enjoyed the story how knowledge work evolves in the AI era; comments are more that welcome,: contact me at hjschumacher59@gmail.com.

Tuesday, March 11, 2025

Editor: Angel R. Calso • www.businessmirror.com.ph

Israel cuts off electricity to Gaza, affecting desalination plant producing drinking water

By Melanie Lidman & Samy Magdy

The Associated Press

TEL AVIV, Israel—Israel cut off the electricity supply to Gaza, officials said Sunday, affecting a desalination plant producing drinking water for part of the arid territory. Hamas called it part of Israel’s “starvation policy.”

Israel last week suspended supplies of goods to the territory of more than 2 million Palestinians, an echo of the siege it imposed in the earliest days of the war.

Israel is pressing the militant group to accept an extension of the first phase of their ceasefire. That phase ended last weekend.

Israel wants Hamas to release half of the remaining hostages in return for a promise to negotiate a lasting truce.

Hamas instead wants to start negotiations on the ceasefire’s more difficult second phase, which would see the release of remaining hostages from Gaza, the withdrawal of Israeli forces and a lasting peace. Hamas is believed to have 24 living hostages and the bodies of 35 others.

The militant group—which has warned that discontinuing supplies would affect the

hostages—said Sunday that it wrapped up the latest round of ceasefire talks with Egyptian mediators without changes to its position.

Israel has said it would send a delegation to Qatar on Monday in an effort to “advance” the negotiations.

Israel had warned when it stopped all supplies that water and electricity could be next. The letter from Israel’s energy minister to the Israel Electric Corporation tells it to stop selling power to Gaza.

The territory and its infrastructure have been largely devastated, and most facilities, including hospitals, now use generators. Hamas spokesman Hazem Qassam said that Israel has “practically” cut off electricity since the war began and called the latest decision part of Israel’s “starvation policy, in clear disregard for all international laws and norms.”

The desalination plant was providing 18,000 cubic meters of water per day for central Gaza’s Deir al-Balah area, according to Gisha, an Israeli organization dedicated to protecting Palestinians’ right to freedom of movement. Executive director Tania Hary said that it’s expected to run

on generators and produce around 2,500 cubic meters per day, about the amount in an Olympic swimming pool.

Israel’s restrictions on fuel entering Gaza have a larger impact, Hary said, and water shortages are a looming issue, because fuel is needed for distribution trucks.

Israel has faced sharp criticism over suspending supplies.

“Any denial of the entry of the necessities of life for civilians may amount to collective punishment,” the UN human rights office said Friday.

The International Criminal Court said there was reason to believe Israel had used “starvation as a method of warfare” when it issued an arrest warrant for Prime Minister Benjamin Netanyahu last year. The allegation is central to South Africa’s case at the International Court of Justice accusing Israel of genocide.

Israel has denied the accusations, saying it has allowed in enough aid and blaming shortages on what it called the United Nations’ inability to distribute it. It also accused Hamas of siphoning off aid.

The leader of the Iranian-backed Houthi rebels in Yemen, Abdul Malik al-Houthi, warned Friday that attacks

against Israel-linked vessels off Yemen would resume within four days if aid doesn’t resume to Gaza. The Houthis described their earlier attacks as solidarity with Palestinians there.

The ceasefire has paused the deadliest and most destructive fighting ever between Israel and Hamas, sparked by the Hamasled attack on southern Israel on October 7, 2023. The first phase allowed the return of 25 living hostages and the remains of eight others in exchange for the release of nearly 2,000 Palestinian prisoners.

Israeli forces have withdrawn to buffer zones inside Gaza, hundreds of thousands of displaced Palestinians have returned to northern Gaza and hundreds of trucks of aid entered per day until Israel suspended supplies.

US envoy describes talks with Hamas THE White House on Wednesday made the surprise confirmation of direct US talks with Hamas.

On Sunday, envoy Adam Boehler told Israeli broadcaster Kan that Hamas has suggested a truce of five to 10 years while it would disarm. The militant group has

previously called disarming unacceptable.

A senior Hamas official, speaking on condition of anonymity to discuss contacts with the US, said that the group had expressed its longstanding position that it would lay down its arms in return for a “fair and just solution” that includes an independent Palestinian state.

Boehler also told CNN that “I think you could see something like a long-term truce, where we forgive prisoners, where Hamas lays down their arms, where they agree they’re not part of the political party going forward. I think that’s a reality. It’s real close.”

When asked if he would speak with the militant group again, Boehler replied, “You never know.”

He added: “I think something could come together within weeks,” and expressed hope for a deal that would see all hostages released, not only American ones. Boehler has said four of the five American hostages in Gaza are dead, with Edan Alexander alive.

Hamas on Sunday didn’t mention the talks, but reiterated its support for a proposal for the establishment of an independent committee of technocrats to

run Gaza until Palestinians hold presidential and legislative elections.

Hamas’ attack in October 2023 killed around 1,200 people, mostly civilians, inside Israel and took 251 people hostage. Most have been released in ceasefire agreements or other arrangements. Many Israelis are pressing for a deal to bring everyone home. “We are here to send a clear message to the Israeli government: stop stalling,” Zahiro Shahar Mor, nephew of slain hostage Avraham Munder, said in front of tents set up outside Israel’s defense ministry in one demonstration.

Israel’s military offensive has killed more than 48,000 Palestinians in Gaza, mostly women and children, according to Gaza’s Health Ministry, which doesn’t say how many of the dead were militants. With the cutoff of supplies to Gaza, Palestinians are reporting sharp price increases for dwindling items during the Muslim holy month of Ramadan.

“Since the ceasefire began, the situation has improved a little. But before that, the situation was very bad,” said Fares al-Qeisi in the southern city of Khan Younis. Magdy reported from Cairo.

Russian special forces walked inside gas pipeline to strike Ukrainian troops from the rear in Kursk

LBy Joanna Kozlowska The Associated Press

ONDON—Russian special forces walked inside a gas pipeline to strike Ukrainian units from the rear in the Kursk region, Ukraine’s military and Russian war bloggers reported, as Moscow claimed fresh gains in its push to recapture parts of the border province that Kyiv seized in a shock offensive.

Ukraine launched a daring cross-border incursion into Kursk in August, marking the largest attack on Russian territory since World War II. Within days, Ukrainian units had captured 1,000 square kilometers (386 square miles) of territory, including the strategic border town of Sudzha, and taken hundreds of Russian prisoners of war.

According to Kyiv, the operation aimed to gain a bargaining chip in future peace talks and to force Russia to divert troops

away from its grinding offensive in eastern Ukraine.

But months after Ukraine’s thunder run, its soldiers in Kursk are weary and bloodied by relentless assaults of more than 50,000 troops, including some from Russian ally North Korea. Tens of thousands of Ukrainian soldiers are at risk of being encircled, open-source maps of the battlefield show. According to Telegram posts late Saturday by a Ukrainian-born, pro-Kremlin blogger, Russian operatives walked about 15 kilometers (9 miles) inside the pipeline, which Moscow had until recently used to send gas to Europe. Some Russian troops spent several days in the pipe before striking Ukrainian units from the rear near Sudzha, blogger Yuri Podolyaka claimed.

The town had some 5,000 residents before the full-scale February 2022 invasion of Ukraine, and it houses major gas transfer and measuring stations along the

pipeline, which was once a major outlet for Russian natural gas exports through Ukrainian territory.

Another war blogger, who uses the alias Two Majors, said fierce fighting was underway for Sudzha, and that Russian forces managed to enter the town through a gas pipeline. Russian Telegram channels showed photos of what they said were special forces operatives, wearing gas masks and moving along what looked like the inside of a large pipe.

Ukraine’s General Staff confirmed Saturday evening that Russian “sabotage and assault groups” used the pipeline in a bid to gain a foothold outside Sudzha. In a Telegram post, it said Russian troops were “detected in a timely manner” and that Ukraine responded with rockets and artillery.

“At present, Russian special forces are being detected, blocked and destroyed. The

enemy’s losses in Sudzha are very high,” the General Staff reported.

A third Russian war blogger argued that the attacking force lacked the logistical backup to succeed.

“Food, water, ammunition, communications, charging electrical devices, power banks, the approach of the main forces, evacuating the wounded…Two or three groups in the rear without all this—that’s a disaster,” the blogger, who describes himself as a soldier with the call sign Thirteenth, wrote on Telegram.

The Associated Press could not independently verify the accounts.

The Russian Defense Ministry reported Sunday that its troops had taken four villages north and northwest of Sudzha, with the closest lying some 12 kilometers (7.5 miles) from the center of the town. The claim came a day after the ministry reported the capture of three more villages near Sudzha.

Ukraine did not immediately comment on the Russian claims.

Trump questions Ukraine’s survival, while France announces new aid package MEANWHILE , President Donald Trump said in an interview that aired Sunday that Ukraine “may not survive” as he continued to withhold American arms and intelligence in an effort to force Kyiv into peace negotiations with its invader.

In an interview with Fox News Channel’s “Sunday Morning Futures,” Trump was asked about a warning from Polish President Andrzej Duda “that without American support, Ukraine will not survive” and whether he was “comfortable” with that outcome. He replied, “Well, it may not survive anyway.” He added, “But we have some weaknesses with Russia. You know, it takes two.”

In other developments, French Defense Minister Sébastien Lecornu said Sunday that France will use profits from frozen Russian assets to finance an additional 195 million euros ($211 million) in arms for Ukraine, the latest in a series of military aid deliveries funded through the assets.

In an interview with the La Tribune Dimanche newspaper, Lecornu said Paris will send new 155 mm artillery shells and glide bombs for Mirage 2000 fighter jets it previously gave to Ukraine.

Ukrainian drones said to target Russian oil infrastructure ELSEWHERE Russian officials and Telegram channels reported that Ukrainian drones targeted oil infrastructure in southern and central Russia overnight into early Sunday. One drone struck an oil depot in Cheboksary,

See “Russian,” A8

Pope thanks volunteers for ‘miracle of tenderness’ amid positive health update during hospitalization

By Nicole Winfield & Silvia Stellacci

The Associated Press

OME—Pope Francis thanked volunteers Sunday for the “miracle of tenderness” they offer the sick, as he continued his treatment for double

pneumonia and doctors reported some positive news. After more than three weeks in the hospital, the 88-year-old pope is responding

well to treatment and has shown a “gradual, slight improvement” in recent days. Francis on Sunday followed the opening day of a weeklong spiritual retreat in the Vatican for Holy See officials by video conference. He could see the officials, but they couldn’t see him in the Gemelli hospital, the Vatican press office said. Francis also participated in Mass at the

Ex-central banker to replace Trudeau as Canada prime minister after winning Liberal Party vote

By Rob Gillies The Associated Press

TORONTO—Former central banker Mark Carney will become Canada’s next prime minister after the governing Liberal Party elected him its leader Sunday as the country deals with US President Donald Trump’s trade war and annexation threat, and a federal election looms.

Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remains prime minister until his successor is sworn in in the coming days. Carney won in a landslide, winning 85.9 percent of the vote.

“There is someone who is trying to weaken our economy,” Carney said. “Donald Trump, as we know, has put unjustified tariffs on what we build, on what we sell and how we make a living. He’s attacking Canadian families, workers and businesses and we cannot let him

succeed and we won’t.”

Carney said Canada will keep retaliatory tariffs in place until “the Americans show us respect.”

“We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves,” Carney said. “The Americans, they should make no mistake, in trade, as in hockey, Canada will win.”

Carney navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was

founded in 1694. His appointment won bipartisan praise in the U.K. after Canada recovered from the 2008 financial crisis faster than many other countries.

The opposition Conservatives hoped to make the election about Trudeau, whose popularity declined as food and housing prices rose and immigration surged.

Trump’s trade war and his talk of making Canada the 51st US state have infuriated Canadians, who are booing the American anthem at NHL and NBA games. Some are canceling trips south of the border, and many are avoiding buying American goods when they can.

The surge in Canadian nationalism has bolstered the Liberal Party’s chances in a parliamentary election expected within days or weeks, and Liberal showings have been improving steadily in opinion polls.

“The Americans want our resources, our water, our land, our country. Think about it. If they succeed, they would destroy our way of life,” Carney said. “In America health care is big business. In Canada it is a right.”

Carney said America is “a melting pot. Canada is mosaic,” he said. “America is not Canada. And Canada will never, ever will be a part of America in any way, shape or form.”

After decades of bilateral stability, the vote on Canada’s next leader now is expected to focus on who is best equipped to deal with the United States.

“These are dark days, dark days brought on by a country we can no longer trust,” Carney said. “We are getting over the shock but let us never forget the lessons. We have to look after ourselves and we have to look out for each other. We need to pull together in the tough days ahead.”

Trump has postponed 25 per -

Top US health agency makes $25,000 buyout offer to most

By Amanda Seitz The Associated Press

WASHINGTON—Most of the 80,000 federal workers responsible for researching diseases, inspecting food and administering Medicare and Medicaid under the auspices of the Health and Human Services Department were e-mailed an offer to leave their job for as much as a $25,000 payment as part of President Donald Trump’s government cuts.

Workers cannot start opting in until Monday and have until 5 p.m. on Friday to submit a response for the so-called voluntary separation offer. The email was sent to staff across the department, which includes the

Centers for Disease Control and Prevention in Atlanta, and the National Institutes of Health as well as the Food and Drug Administration, both in Maryland.

The mass e-mail went out to a “broad population of HHS employees,” landing in their inboxes days before agency heads are due to offer plans for shrinking their workforces. HHS is one of the government’s costliest federal agencies, with an annual budget of about $1.7 trillion that is mostly spent on health care coverage for millions of people enrolled in Medicare and Medicaid.

The agency oversees health insurance for roughly half the country through Medicare for older adults and Medicaid for

of its employees

disabled and poor Americans.

There was no immediate comment Sunday from HHS.

Robert F. Kennedy Jr., Trump’s health secretary, has hinted at plans at deep cuts to the staff. Last year, he promised to immediately clear out 600 employees at the NIH, the nation’s biomedical research arm. He has not gone that far, but in an interview last month shortly after being sworn in last month, Kennedy said he wanted to remove some workers from the public health agencies.

“I have a list in my head,” Kennedy said of potential firings at the agency. He said some workers “made really bad decisions” on nutrition guidelines.

The Trump administration, with the help of billionaire Elon

Musk, has been trying to push out federal workers in an effort to cut costs. In January, most federal employees received a deferred resignation offer that came with eight months of pay. Thousands of probationary employees, too, have been fired across federal agencies, including at HHS.

The latest move to reduce the number of federal health workers comes as the CDC is assisting with a deadly measles outbreak in West Texas and New Mexico and as lawmakers are debating deep cuts to Medicaid in the federal budget.

HHS workers are directed in the e-mail to reach out to their local human resources office to submit for the voluntary separation.

cent tariffs on many goods from Canada and Mexico for a month, amid widespread fears of a broader trade war. But he has threatened other tariffs on steel, aluminum, dairy and other products.

Carney picked up one endorsement after another from Cabinet ministers and members of Parliament since declaring his candidacy in January. He is a highly educated economist with Wall Street experience who has long been interested in entering politics and becoming prime minister, but he lacks political

a Russian city on the Volga River about 1,000 kilometers (620 miles) from the border, the local governor reported. According to Oleg Nikolaev, nobody was hurt, but the depot needed reconstruction work.

Footage circulated on Russian Telegram channels of what appeared to be a fire at or near one of Russia’s largest oil refineries, in the southern city of Ryazan. Shot, a news channel on Telegram, cited local residents as saying they heard several nighttime blasts near the refinery. The local governor, Pavel Malkov, said Ukrainian drones had been shot down nearby. He claimed there had been no casualties or damage.

Ukraine did not immediately comment on either incident.

Satellite Internet fuels sharp social media exchange CONCERNS that Elon Musk could turn off Starlink satellite Internet service to Ukraine prompted a sharp exchange Sunday on X involving Musk, the Polish foreign minister and US Secretary of State Marco Rubio.

For the fourth consecutive Sunday, Francis didn’t appear for his weekly noon blessing, but the Vatican distributed the text he would have delivered if he were well enough. In it, the Argentine pope thanked all those who were caring for him and others who are sick and experiencing a “night of pain.”

“Brothers and sisters, during my prolonged hospitalization here, I too experience the thoughtfulness of service and the tenderness of care, in particular from the doctors and health care workers, whom I thank from the bottom of my heart,” read the message from Gemelli hospital.

“And while I am here, I think of the many people who in various ways are close to the sick, and who are for them a sign of the Lord’s presence. We need this, the ‘miracle of tenderness’ which accompanies those who are in adversity, bringing a little light into the night of pain,” he wrote.

The pontiff, who has chronic lung disease and had part of one lung removed as a young man, has remained in stable

experience.

In 2020, he began serving as the United Nations’ special envoy for climate action and finance.

Carney is a former Goldman Sachs executive. He worked for 13 years in London, Tokyo, New York and Toronto, before being appointed deputy governor of the Bank of Canada in 2003.

The other top Liberal leadership candidate was former Deputy Prime Minister Chrystia Freeland, who received just eight percent of the vote. Trudeau told Freeland in December that he no longer wanted her as finance minister, but that she could remain deputy prime minister and the point person for US-Canada relations. Freeland resigned shortly after, releasing a scathing letter about the government that proved to be the last straw for Trudeau.

Carney is expected to trigger an election shortly. Either he will call one, or the opposition parties in Parliament could force one with a no-confidence vote later this month.

Trudeau urged Liberals supporters to get involved.

“This is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given,” Trudeau said.

Foreign Minister Radek Sikorski wrote that if Musk’s rocket company SpaceX, which runs Starlink, “proves to be an unreliable provider,” Poland “will be forced to look for other suppliers.”

Musk told Sikorski: “Be quiet, small man. You pay a tiny fraction of the cost. And there is no substitute for Starlink.” Rubio told Sikorski: “No one has made any threats about cutting Ukraine off from Starlink. And say thank you because without Starlink, Ukraine would have lost this war long ago and Russians would be on the border with Poland right now.”

In fact, Russians are already on the border with Poland because the Russian region of Kaliningrad lies on Poland’s northern border.

The back-and-forth between the three concluded with Sikorski thanking Rubio: “Thank you, Marco, for confirming that the brave soldiers of Ukraine can count on the vital Internet service provided jointly by the US and Poland. Together, Europe and the United States can help Ukraine to achieve a just peace.”

The Associated Press writers Sylvie Corbet in Paris and Zeke Miller in West Palm Beach, Florida, contributed to this report.

condition, with no fever and good oxygen levels in his blood for several days, doctors reported.

The doctors said that such stability “as a consequence testifies to a good response to therapy.” It was the first time the doctors had reported that Francis was responding positively to the treatment for the complex lung infection that was diagnosed after he was hospitalized on February 14. But they kept his prognosis as “guarded,” meaning that he’s not out of danger. The Vatican said that the medical update from Saturday remained valid Sunday. In his absence, the Vatican’s day-today operations continued alongside celebrations of its Holy Year, the once every quarter-century Jubilee that brings millions of pilgrims to Rome. On Sunday, Canadian Cardinal Michael Czerny, who is close to Francis, celebrated the Holy Year Mass for volunteers that Francis was supposed to have celebrated.

During the Mass in St. Peter’s Square, the giant banner bearing Francis’ papal coat of arms fluttered from the loggia of the basilica above. Even while in the hospital, Francis is very much still the pope and in charge of the Catholic Church.

Panama releases dozens of deported migrants amid legal limbo and human rights concerns

By Megan Janetsky, Alma Solís & Matías Delacroix

The Associated Press

ANAMA CITY—After weeks

Pof lawsuits and human rights criticism, Panama on Saturday released dozens of migrants who were held for weeks in a remote camp after being deported from the United States, telling them they have 30 days to leave the Central American nation.

It thrust many like Hayatullah Omagh, a 29-year-old who fled Afghanistan in 2022 after the Taliban took control, into a legal limbo, scrambling to find a path forward.

“We are refugees. We do not have money. We cannot pay for a hotel in Panama City, we do not have relatives,” Omagh told the Associated Press in an interview. “I can’t go back to Afghanistan under any circumstances...It is under the control of the Taliban, and they want to kill me. How can I go back?”

Authorities have said deportees will have the option of extending their stay by 60 days if they need it, but after that many like Omagh don’t know what they will do.

Omagh climbed off a bus in Panama City alongside 65 migrants from China, Russia, Pakistan, Afghanistan, Iran, Nepal and other nations after spending weeks detained in poor conditions by the Panamanian government, which has said it wants to work with the Trump administration “to send a signal of deterrence” to people hoping to migrate.

Human rights groups and lawyers advocating for the migrants were waiting at the bus terminal, and scrambled to find the released migrants shelter and other resources. Dozens of other people remained in the camp.

Among those getting off buses were migrants fleeing violence and repression in Pakistan and Iran, and 27-year-old Nikita Gaponov, who fled Russia due to repression for being part of the LGBTQ+ community and who said he was detained at the US border, but not allowed to make an asylum claim.

“Once I get off the bus, I’ll be sleeping on the ground tonight,” Gaponov said.

Others turned their eyes north once again, saying that even though they had already been deported, they had no other option than to continue after crossing the world to reach the US.

The deportees, largely from Asian countries, were part of a deal stuck between the Trump administration and Panama and Costa Rica as the US government attempts to speed up deportations. The administration sent hundreds of people, many families with children, to the two Central American countries as a stopover while authorities organize a way to send them back to their countries of origin.

Critics described it as a way for the US to export its deportation process.

The agreement fueled human rights concerns when hundreds of deportees detained in a hotel in Panama City held up notes to their windows pleading for help and saying they were scared to return to their own countries.

Under international refugee law, people have the right to apply for asylum when they are fleeing conflict or persecution.

Those that refused to return home were later sent to a remote camp near Panama’s border with Colombia, where they spent weeks in poor conditions, were stripped of their phones, unable to access

a legal counsel and were not told where they were going next.

Lawyers and human rights defenders warned that Panama and Costa Rica were turning into “black holes” for deportees, and said their release was a way for Panamanian authorities to wash their hands of the deportees amid mounting human rights criticism.

Upon being released Saturday night, human rights lawyers identified at least three people who required medical attention. One has been vomiting for over a week, another deportee had diabetes and hadn’t had access to insulin in the camp and another person had HIV and also didn’t have access to medicine in detention.

Those who were released, like Omagh, said they could not return home.

As an atheist and member of an ethnic minority group in Afghanistan known as the Hazara, he said returning home under the rule of the Taliban—which swept back into power after the Biden administration pulled out of the country—would mean he would be killed. He only went to the US after trying for years to live in Pakistan, Iran and other countries but being denied visas.

Omagh was deported after presenting himself to American authorities and asking to seek asylum in the US, which he was denied.

“My hope was freedom. Just freedom,” he said. “They didn’t give me the chance. I asked many times to speak to an asylum officer and they told me ‘No, no, no, no, no.’”

Still, he said that leaving the camp was a relief. Omagh and other migrants who spoke to the AP detailed scarce food, sweltering heat with little relief and aggressive Panamanian authorities.

In one case, Omagh and others said, a Chinese man went on a week-long hunger strike. In another, a small riot broke out because guards refused to give a migrant their phone. The riot, they said, was suppressed by armed guards.

Panamanian authorities denied accusations about camp conditions, but blocked journalists from accessing the camp and cancelled a planned press visit last week.

While international aid organizations said they would organize travel to a third country for people who didn’t want to return home, Panamanian authorities said the people released had already refused help.

Omagh said he was told in the camp he could be sent to a third country if it gives people from Afghanistan visas. He said that would be incredibly difficult because few nations open their doors to people with an Afghan passport.

He said he asked authorities in the camp multiple times if he could seek asylum in Panama, and said he was told that “we do not accept asylum.”

“None of them wants to stay in Panama. They want to go to the US,” said Carlos Ruiz-Hernandez, Panama’s deputy foreign minister, in an interview with the AP last month.

That was the case for some, like one Chinese woman who spoke to the AP on condition of anonymity, fearing repercussions from Panamanian authorities.

Upon getting off the bus, the first thing she wanted to do was find a Coca-Cola. Then, she’d find a way back to the US.

“I still want to continue to go to the United States and fulfill my American dream,” she said.

Janetsky reported from Mexico City.

Mexicans rejoice as US decides to delay tariffs: President Sheinbaum basks in popular support

By Fabiola Sánchez The Associated Press

MEXICO CITY—Tens of thousands of people packed into Mexico’s City main plaza on Sunday to celebrate with President Claudia Sheinbaum a decision by the US to postpone tariffs on many of the country’s goods.

The crowd clutched large Mexican flags and yelled, “Mexico is to be respected!” as they cheered on Sheinbaum.

“Fortunately, dialogue and respect have prevailed,” she told the crowd.

The celebration comes just days after US President Donald Trump postponed 25 percent tariffs on many imports from Mexico for a month, saying Sheinbaum had made progress on drug smuggling and illegal immigration.

Sheinbaum had planned to announce any retaliatory measures on Sunday, but instead held a mass celebration.

While threats persist, the

president said she was optimistic tariffs would not be applied to Mexico and that she would continue to act with a “cool head” in the face of Trump.

Among Sheinbaum’s supporters was Roberto González, a 68-yearold computer scientist who raised a sign that read “we are united Mexicans.”

“The unity of the country is very important,” said González, adding that is the only way Mexico would be able to “face one of the largest powers in the world.”

Also cheering on the president was Mariana Rivera, a 40-year-old social activist who held up a massive Mexican flag as high as her

arms allowed.

Despite the dark clouds hanging over the country, the activist said she was convinced that “the president will overcome everything.”

Analysts say they don’t expect the jubilant ceremony to alleviate the climate of uncertainty that threatens new investments and the Mexican economy, but that it would help Sheinbaum consolidate internal support against Trump, who is setting the pace of bilateral relations with his powerful rhetoric.

“This is an event designed more for internal politics,” said political scientist and academic Javier Rosiles Salas, stating that Sheinbaum will seek to strengthen her image and leadership with Sunday’s event.

Rosiles Salas told The Associated Press that despite concerns in Mexico about the economic impacts that a tariff war with the United States—its main trading partner and destination of more than 80 percent of Mexican exports—could unleash, the confrontation with Trump has been “very profitable for Claudia Sheinbaum” and has allowed her to achieve popular support of over 60 percent five months into her term.

North Korea fires several ballistic missiles after US, South Korea began military drills

y Kim Tong-Hyung & Hyung-Jin Kim The Associated Press

SEOUL, South Korea—North Korea fired several ballistic missiles into the sea Monday, South Korea’s military said, hours after South Korean and US troops kicked off their large annual combined drills, which the North views as an invasion rehearsal.

South Korea’s Joint Chiefs of Staff said the missile firings, North Korea’s fifth missile launch event this year, were detected from the North’s southwestern Hwanghae province. It called the weapons close-range but didn’t say how far they flew. The military said South Korea bolstered its surveillance posture and is closely coordinating with the United States.

Earlier Monday, the South Korean and US militaries began their annual Freedom Shield command post exercise, their first major combined training of President Donald Trump’s second term. The allies have already been engaging in diverse field training exercises

in connection with the Freedom Shield training.

North Korea’s Foreign Ministry warned Monday the latest training risks triggering “physical conflict” on the Korean Peninsula. It called the drills an “aggressive and confrontational war rehearsal” and reiterated leader Kim Jong Un’s stated goals for a “radical growth” of his nuclear force to counter what he claims as growing threats posed by the US and its Asian allies.

This year’s training came after the South Korean and US militaries paused live-fire training while Seoul investigates how its fighter jets mistakenly bombed a civilian area during a warm-up drill last week.

About 30 people were injured, two of them seriously, when two South Korean KF-16 fighter jets mistakenly fired eight MK-82 bombs on a civilian area in Pocheon, a town near the North Korean border, on Thursday. The bombing occurred while South Korean and US forces were engaging in a live-fire drill ahead of the Freedom Shield exercise.

The initial assessment from the South Korean air force was that one of the KF-16 pilots entered the wrong coordinates and failed to visually verify the target before proceeding with the bombing. The second pilot had the correct coordinates but focused only on maintaining flight formation and dropped the bombs on the first pilot’s instructions without recognizing the target was wrong, according to the content of the latest briefing provided to The Associated Press.

Gen. Lee Youngsu, chief of staff

Although the 62-year-old president appears strong now, it is not clear whether her political support would weaken if the Mexican economy deteriorates because of tensions with the US.

For now, the projections of specialists and rating agencies are not favorable. Most analysts agree that if general tariffs are imposed, Mexico could face a contraction of more than 1 percent of the Gross Domestic Product.

A prolonged climate of uncertainty doesn’t favor Mexico, according to Samuel Ortiz Velásquez, professor of the Faculty of Economics at the National Autonomous University of Mexico.

After phone conversations with his counterparts in Mexico and Canada, Trump decided last Thursday to pause until April 2 the general tariffs for products that are under a trilateral trade agreement.

In early February, Trump also suspended tariffs after Sheinbaum promised to send 10,000 national guards to the northern border to contain drug trafficking.

Despite the agreements, Trump’s decision on the 25 percent tariffs on steel and aluminum from Mexico and Canada, which are scheduled to come into effect on March 12, remains in limbo.

of the South Korean air force, bowed and apologized Monday over the injuries and property damage caused by the bombing, which he said “should have never happened and must never happen again.”

Both the South Korean and US militaries have halted all live-fire exercises in South Korea following the mistake. South Korean military officials say live-fire training will resume after they complete the investigation of the bombing and form preventative steps.

The South Korean air force earlier suspended the training flights of all its planes too but lifted the steps on Monday, except aircraft affiliated with the unit the two KF-16s belong to.

Japan’s Nissan tests driverless vehicles in city streets filled with cars and people

YBy Yuri Kageyama Ap Business Writer

OKOHAMA, Japan—The van makes its way slowly but surely through the city streets, braking gently when a car swerves into its lane. But its steering wheel is turning on its own, and there’s no one in the driver’s seat.

The driverless technology from Nissan Motor Corp., which uses 14 cameras, nine radars and six LiDar sensors installed in and around the vehicle, highlights Japan’s eagerness to catch up with players like Google’s Waymo that have taken the lead in the US.

Japan, home to the world’s top automakers, has not kept pace with the global shift to autonomous driving, so far led by China and the US. But momentum is building.

Waymo is going to land in Japan this year. Details haven’t been disclosed, but it has a partnership with major cab company Nihon Kotsu, which will oversee and manage their all-electric Jaguar I-PACE sport-utility vehicles, first in the Tokyo area, still with a human cab driver riding along.

During Nissan’s demonstration, the streets were bustling with other cars and pedestrians. The vehicle stayed within the maximum speed limit in the area of 40 kph (25 mph), its destination set with a smartphone app.

Takeshi Kimura, the Mobility and AI Laboratory engineer at Nissan, insists an automaker is more adept at integrating self-driving technology with the overall workings of a car—simply because it knows cars better.

“How the sensors must be adapted to the car’s movements, or to monitor sensors and computers to ensure reliability and safety requires an understanding of the auto system overall,” he said during a recent demonstration that took reporters on a brief ride.

Nissan’s technology, being tested on its Serena minivan, is still technically at the industry’s Level Two because a person sits before a remote-control panel in a separate location outside the vehicle, in this case, at the automaker’s headquarters, and is ready to step in if the technology fails.

Nissan also has a human sitting in the front passenger seat during the test rides, who can take over the driving, if needed. Unless there is a problem, the people in the remote control room and the passenger seat are doing nothing.

Nissan plans to have 20 such vehicles moving in the Yokohama area in the next couple of years, with the plan to reach Level Four, which means no human involvement even as backup, by 2029 or 2030.

Autonomous vehicles can serve a real need given the nation’s shrinking population, including

a shortage of drivers. Other companies are working on the technology in Japan, including startups like Tier IV, which is pushing an open source collaboration on autonomous driving technology.

So far, Japan has approved the use of so-called Level Four autonomous vehicles in a rural area in Fukui Prefecture, but those look more like golf carts. A Level Four bus is scuttling around a limited area near Tokyo’s Haneda airport. But its maximum speed is 12 kmph (7.5 mph). Nissan’s autonomous vehicle is a real car, capable of all its mechanical workings and speed levels. Toyota Motor Corp. recently showed its very own “city” or living area for its workers and partnering startups, near Mount Fuji, being built especially to test various technology, including autonomous driving.

Progress has been cautious.

University of Tokyo Professor Takeo Igarashi, who specializes in computer and information technology, believes challenges remain because it’s human nature to be more alarmed by accidents with driverless vehicles than regular crashes.

“In human driving, the driver takes responsibility. It’s so clear. But nobody is driving so you don’t know who will take responsibility,” Igarashi told The Associated Press.

“In Japan, the expectation for commercial services is very high. The customer expects perfect quality for any service—restaurants or drivers or anything. This kind of auto-driving is a service form a company, and everybody expects high quality and perfection. Even a small mistake is not acceptable.”

Nissan says its technology is safe. After all, a human can’t be looking at the front, the back and all around at the same time. But the driverless car can, with all its sensors.

When a system failure happened during the recent demonstration, the car just came to a stop and all was well.

Phil Koopman, professor of electrical and computer engineering at Carnegie Mellon University, believes the autonomous vehicle industry is just getting started. The main problem is what’s known as “edge cases,” those rare but dangerous situations that the machine has not yet been taught to respond to. Using autonomous fleets of a significant size for some time is needed for such edge cases to be learned, he said.

“We will see each city require special engineering efforts and the creation of a special remote support center. This will be a city-bycity deployment for many years,” said Koopman.

“There is no magic switch.”

PRESIDENT Claudia Sheinbaum waves to supporters at a rally she convened to welcome US President Donald Trump’s decision to postpone tariffs on Mexican goods for one month at the Zocalo, Mexico City’s main square, Sunday, March 9, 2025. AP/EDUARDO VERDUGO

NISSAN’S self-driving car moves from a road into the headquarters entrance in a demonstration for reporters in Yokohama, near Tokyo, on March 6, 2025. AP/YURI KAGEYAMA

March 11, 2025 A11

Chicken prices could surge amid US bird flu bans, meat importers

By Ada Pelonia @adapelonia

THE Meat Importers and Traders Association (Mita) expects domestic chicken prices to rise following consecutive bans on poultry products from several US states due to cases of bird flu.

Mita President Emeritus Jesus Cham said the government’s move to suspend inbound shipments of poultry goods from US states comes at a time when the industry is grappling with the delay in minimum access volume (MAV) allocation and higher duties levied on the products.

“The ban will certainly exacerbate the situation,” Cham told the B usiness M irror on Monday. “For Philippines, less supply means higher domestic prices, especially since day-old chicks are very expensive now,” he said.

Industry sources noted that the price of day-old chicks currently ranges from P52 to P54.

The Department of Agriculture (DA) has temporarily suspended imports of poultry products, such as poultry meat, day-old chicks, eggs, and semen from ten US states due to confirmed bird flu outbreaks.

These states include Indiana, New York, Pennsylvania, Illinois, Minnesota, Ohio, Wisconsin, South Dakota, Maryland, and Missouri.

United States is the nation’s second-biggest supplier of chicken products, accounting for 33 percent or 158,159 metric tons (MT) of the total shipments last year.

Data from the Bureau of Animal Industry (BAI) showed that the Philippines imported 472,211 MT of chicken in 2024. MAV allocation

IN FEBRUARY, Agriculture Secretary Francisco Tiu Laurel Jr. said the final MAV allocation, which is part of the Philippines’ commitment to the World Trade Organization (WTO), should be finalized within the next few weeks.

The DA chief said the proposed 2025 MAV allocation of 55,000 MT for pork would be split among processors, traders, and the government. Broken down, 30,000 MT would go to the processors; 15,000 MT would be allotted to the DA through Food Terminal Inc. (FTI) and Planters Products Inc. (PPI); while the remaining 10,000 MT would be equally distributed to traders.

This was welcomed by the Philippine Association of Meat Processors Inc. (Pampi), noting that the 30,000 MT allocation for processors would ensure stable prices of processed meat products.

“This [allocation] will help us maintain stable prices,” Jet Ambalada, director of Pampi, said in a statement.

“As I’ve mentioned, the price of hotdogs has remained steady for over a decade, and a can of luncheon meat is now even cheaper than a can of sardines of the same size,” he added.

In 2024, the country’s pork MAV stood at 54,209.73 MT, while poultry MAV settled at 23,489.96 MT.

Customs intercepts ₧29.4-M marijuana shipment concealed in Balikbayan boxes

TBy Reine Juvierre S. Alberto  @reine_alberto

HE Bureau of Customs-Customs Intelligence and Investigation Service (BOC-CIIS) intercepted suspected marijuana and kush oil concealed in balikbayan boxes valued at P29.386 million at the Manila International Container Port (MICP).

In a statement on Monday, the BOC said two balikbayan boxes, consigned to a residence in General Trias, Cavite, came from Canada. The boxes were initially declared to carry household goods and personal effects.

The first box contained 20 vacuum-sealed plastic pouches with a total of 9,809 grams of kush and one liter of liquid substance. Meanwhile, the second box had 23 vacuum-sealed plastic pouches with a total of 11,181 grams of kush.

CIIS D irector Verne Enciso said the balikbayan boxes already underwent 100% physical examination at the Designated Examination Area (DEA) of the MICP conducted by the assigned Customs examiner.

“We received derogatory information about these two balikbayan boxes and immediately processed the proper documents to have them inspected. The examination found a total of 20,990 grams of kush and one liter of liquid substance we suspect to be kush oil,” Enciso said. Representatives from the CIIS, Enforcement and Security Service (ESS), Customs Anti-Illegal Drug Task Force (CAIDTF), Philippine Drug Enforcement Agency (PDEA), Philippine Coast Guard (PCG), X-ray Inspection Project (XIP) and Office of the District Collector (ODC) witnessed the examination of the balikbayan boxes.

Customs Commissioner Bienvenido Y. Rubio denounced the modus of smuggling illegal drugs through balikbayan boxes, lamenting how it degrades the “very Filipino” act of sending balikbayan boxes to their loved ones. “B alikbayan boxes are very Filipino. This is ingrained into our culture and our tradition that wherever we are, we send balikbayan boxes back to our loved ones here in the Philippines because it shows we care. Using them for something illegal is an insult to our hardworking OFWs and their families who look forward to receiving even the simplest gifts contained in these boxes,” Rubio said. S amples of the suspected marijuana were turned over to PDEA for confirmatory testing.

The consignees, senders, and recipients of the shipment will face charges for violating Section 118 (prohibited importation and exportation) and Section 1400 (misdeclaration) in the goods declaration in relation to Section 1113 (property subject to seizure and forfeiture) of the Customs Modernization and Tariff Act (CMTA) and Republic Act No. 9165 (Comprehensive Dangerous Drugs Act of 2002).

Senatorial bets engage with Filipinos in HK as Go champions migrant workers’ welfare

S

ENATOR Christopher “Bong” Go and former President Rodrigo Duterte joined Partido Demokratiko Pilipino in Hong Kong over the weekend to meet with overseas Filipino workers (OFWs) and personally express their gratitude for their support and sacrifices for the nation.

T he event, organized by the Kingdom of Jesus Christ (KOJC) in partnership with various OFW organizations across Hong Kong and Macau, served as a platform for dialogue between migrant workers and the Duterte Senatorial Slate for the 2025 midterm elections.

Speak ing before a crowd of Filipinos from various backgrounds, Senator Go emphasized the deeply ingrained values of loyalty and gratitude in the community.

“TayongmgaBisaya,pare-parehotayongmayprinsipyo.Angutangna loob, hindi natin nakakalimutan. Kaya nandito ako ngayon,” Go told the audience, underscoring his deep connection with the OFWs in Hong Kong. He reaffirmed his commitment to Overseas Filipino Workers (OFWs), highlighting his role as one of the authors and a co-sponsor of Republic Act No. 11641, which established the Department of Migrant Workers (DMW) to ensure better protection and services for OFWs.

Signed into law by former president Duterte in December 2021, the measure streamlined government services for OFWs, consolidating efforts to provide more efficient and responsive assistance to those working abroad.

Strengthening PHL’s supply chain amid global uncertainties

AS a nation heavily reliant on imports, the Philippines is at a turning point. With ongoing tariff wars that threaten to destabilize global markets, experts are sounding the alarm: it is imperative for the Philippines to swiftly develop a resilient local supply chain. The recent forum titled “Looking Ahead: Philippines 2025; How Geopolitics Will Affect Business” has brought to light the urgent need for a strategic overhaul of our supply chain mechanisms. (Read the BusinessMirror story: “In ‘tariff wars rodeo,’ PHL must future-proof local supply chain,” March 7, 2025).

Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., emphasized that the Philippines must learn from past experiences, such as the tariff wars from 2017 to 2020. He warns that the repercussions of these trade conflicts could lead to inflation and currency depreciation, putting additional strain on an economy already vulnerable due to its net-importing status. The lack of proactive measures to build a selfsufficient supply chain only heightens the risks associated with these geopolitical tensions.

Charlie Villaseñor, CEO of the Procurement and Supply Institute of Asia, echoed this sentiment, urging the government to take the lead in enhancing supply chain resilience. His call to action is particularly pertinent in a world where uncertainties loom large, from potential conflicts to natural disasters. The pandemic exposed significant weaknesses in our supply chains; it is clear that lessons must be learned to prepare for future crises.

A critical aspect of this discourse is the shift in priorities among private sector companies. Villaseñor notes that businesses are increasingly recognizing the importance of supply chain management, moving it to the forefront of their operational strategies. This shift signifies a growing awareness that without robust supply chains, companies face dire consequences, including production halts and increased costs.

The call for collaboration between the private sector and government is crucial. A formal organization dedicated to supply chain control could pave the way for a more integrated approach, ensuring that both sectors work in tandem to secure essential supplies and mitigate risks. This collaborative model could lead to more effective responses to crises, thereby safeguarding the economy and consumers alike.

Moreover, the Philippines must adopt a holistic view of supply chains, focusing not only on cost reduction but also on supply security. The recent experiences of companies forced to shut down product lines due to single-source dependencies highlight the dire need for risk management strategies. Diversifying suppliers and enhancing inventory systems could prove vital in maintaining production continuity.

Establishing a strong domestic supply chain is crucial for the long-term prosperity and security of the country. Overdependence on imports and global supply chains makes the Philippines susceptible to disruptions and geopolitical conflicts. By focusing on local production, logistics, and infrastructure, we can reduce these vulnerabilities.

Complacency is no longer acceptable. We need to strengthen our supply chain capabilities to ensure our financial health and safeguard our national interests. Neglecting this responsibility could lead to serious repercussions for the country’s economic stability and national security.

Opinion

Borrow

CB. Resurreccion, Dennis D. Estopace

R. Calso, Dionisio L. Pelayo

Ruben M. Cruz Jr.

Eduardo A. Davad Nonilon G. Reyes

D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine

John Mangun

OUTSIDE THE BOX

OAL miners once carried caged canaries underground. Those fragile birds, with their tiny lungs and racing hearts, dropped dead over from carbon monoxide long before the men felt a tickle in their throats. A lifeless canary was a blaring alarm: “Run!” Pakistan is that canary. Now the nation is choking on debt like toxic gas, perhaps a frantic signal to other nations in this “mine” to get out before the whole thing collapses.

It all started with the China-Pakistan Economic Corridor (CPEC) in the early 2010s, with Pakistan facing a severe energy crisis. Its plunge as an early and enthusiastic participant into the BRI has left Pakistan staggering, a warning flare for others snared in China’s sprawling grand web. Pakistan insisted it was not taking on new debt directly. Rather, the burden shifted to consumers via high electricity prices and capacity payments. The lesson cuts sharp: “Dig too deep with borrowed shovels, and maybe the hole you dig might bury you.”

Back in a grimy Manila alley decades ago, I knew Eddie—squinting under a flickering lightbulb, counting coins. “Borrow big, build bigger,”

some slick voice pitched. He did. Stockpiled more PX goods nobody bought. Bank snatched his shophouse keys before the bulb burned out. Pakistan’s pulling an Eddie by swallowing China’s $25 billion power grid bait, hook and all. Now it is drowning in debt, not deals.

Pakistan’s plunge into the BRI echoes Eddie’s flop. China dangled a $25 billion power grid—coal, solar, hydroelectric—to fix an energy crunch. Sweet deal? The brutal terms sting hard. Pakistan repays in 10 years. But it buys all the power generated for 40 years. Chinese firms running the show grab a 34 percent return. Ahmed in Lahore pays $60 a month for lights and a fan. That is half his $125 income. The grid

Pakistan owes $1 billion now, $9 billion later for nuclear plants. Someone sold them a $25 billion fantasy on a two percent prayer, the two percent being the loan interest rate. Guess who is laughing? Not Lahore.

pumps out 40 percent more juice than 220 million Pakistanis need. To pay China, Pakistan hiked electricity prices above levels in some far richer nations. Nice dream, brutal bill.

Enter Trump’s tariffs, swinging like a wrecking ball on an already leaking roof. Picture this worst case scenario. Pakistan ramps up Chinese yarn imports, and a China-wary US slaps duties on Pakistani textiles, calling it supply chain payback. Exports could tank 5-10 percent. That is a gut shot as textiles are 8.5 percent of GDP, 40 percent of factory jobs.

The roof’s leaking, and the storm is just starting.

Pakistan owes $1 billion now, $9 billion later for nuclear plants. Someone sold them a $25 billion fantasy on a two percent prayer, the two percent being the loan interest rate. Guess who is laughing? Not Lahore.

This is no accident; it is Beijing’s trap. State bank loans, Chinese crews with Chinese bosses and if you stumble, China snags the prize. Sri Lanka waved bye to Hambantota Port. Kenya is next in line.

Why should this matter to you? It goes beyond Chinese debt. Look at the Philippines. Late 1980s to 1990s, debt-to-GDP averaged 65 percent, growth crawled at 3 percent. Then in the 2000s, debt eased to 55 percent, growth hit 4.5 percent. By 2010-2019, debt slid to 40 percent, and boom— 6.4 percent growth. Less debt, more muscle. High debt chokes —sucks cash—from the private sector, the real growth engine. Pakistan is at China’s mercy; Manila learned the hard way once too. Lower debt fuels stronger growth gains. Pakistan gambled on China’s $25 billion vision and now staggers under the bill. China builds for influence and power—dams too big, roads too empty—not necessarily for profit. Further, Trump’s tariffs lurk like storm clouds. With debt at 300 percent of GDP, China’s own wallet is strained. My uncle, the horse rancher, said, “Never bet on a lame mule.” Pakistan bet big and now limps. The lesson: borrow less than you can carry. Other nations eyeing Beijing’s Belt and Road Initiative should take a hard pause and maybe walk away or potentially watch their economies falter too. Borrow big, maybe lose bigger.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

China’s inflation declines below zero for first time in year

CHINA’S consumer inflation dropped far more than expected to fall below zero for the first time in 13 months, an assessment skewed by seasonal distortions but also a sign of deflationary pressures persisting in the economy.

The consumer price index declined 0.7 percent from a year earlier, the National Bureau of Statistics said Sunday, compared with a 0.5 percent gain in the previous month. That was lower than all but one forecast in a Bloomberg survey of analysts, whose median estimate was for a 0.4 percent drop.

Even when adjusted for the effect of an earlier-than-usual Lunar New Year holiday, consumer inflation slowed to among the weakest levels in months, according to Goldman Sachs Group Inc. A decline in services prices, combined with a rare negative reading for core inflation, were among symptoms of sluggish consumption.

China’s core CPI, which excludes volatile items such as food and energy, decreased for the first time since 2021 with a drop of 0.1 percent— only the second time the gauge has contracted over more than 15 years. Factory deflation extended into a

29th month.

“China’s economy still faces deflationary pressure,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. “Domestic demand remains weak.”

The statistics bureau said a key factor for the decline in inflation was the effect of a high base from a year earlier, created by elevated prices caused by spending during the Lunar New Year. The festival is a moving holiday that fell entirely in February 2024 but ran from Jan. 28 to Feb. 4 this year.

When accounting for seasonality, the statistics bureau estimates consumer inflation actually rose 0.1 percent from a year earlier in February, according to a statement published on Sunday. Goldman economists estimate the earlier holiday brought year-over-year CPI inflation down by 0.7 percentage point in February.

A clearer read on China’s inflation trajectory will emerge in

A clearer read on China’s inflation trajectory will emerge in March, as investors look for signs that the government’s stimulus is translating into stronger domestic demand. The country is on track for the longest streak of economy-wide price declines since the 1960s as a result of weak spending, while the property crash has yet to bottom out.

March, as investors look for signs that the government’s stimulus is translating into stronger domestic demand. The country is on track for the longest streak of economywide price declines since the 1960s as a result of weak spending, while the property crash has yet to bottom out. China has set its inflation target at the lowest level in over 20 years and now aims to bring consumerprice growth to around 2 percent in 2025—down from the previous 3 percent target. It’s a signal top leaders are finally recognizing the deflationary pressures weighing on the world’s second-largest

economy, with consumer inflation stuck at just 0.2 percent for the past two years.

“China’s weaker-than-expected February price data highlight slack demand and an urgent need for policymakers to deliver on pledged stimulus quickly. Without a powerful boost from fiscal and monetary policies, deflationary pressures will continue to weigh on the economy,” Said Bloomberg economist David Qu. Urgency has grown for the government to reflate the economy. At the annual parliament session Wednesday, China announced an ambitious economic growth goal of about 5 percent for 2025, despite the threat of an intensifying trade war with the US. Beijing also laid out plans to boost fiscal stimulus and domestic consumption. Still, Bloomberg’s calculations based on China’s deficit estimates show nominal economic growth is expected to be around 5 percent this year, matching Beijing’s inflationadjusted target. The outlook suggests officials anticipate little to no overall inflation.  With assistance from Yujing Liu, Tian Ying and James Mayger /Bloomberg

Trump team is pivoting to ‘no pain, no gain’ as economic message

By Skylar Woodhouse & Josh Wingrove

PRESIDENT Donald Trump campaigned on a promise to cure what he said was an ailing US economy. Little more than a month into his second term, he’s starting to hint that the treatment might hurt.

The administration is still lavishing Americans with visions of a golden age to come. Yet in the course of a madcap week—which saw a flurry of tariffs and reversals, sparking a global trade war and a sharp stock-market decline—the tone changed a bit.

“There’ll be a little disturbance, but we’re OK with that,” Trump told Congress on Tuesday, defending his plans to throw up a protectionist barrier around the US with the biggest tariff increases in almost a century.

By Friday, Treasury Secretary Scott Bessent was arguing that the world’s biggest economy needed some “detox” to wean it off dependence on public spending.

As Trump barrels forward with his agenda, he’s facing some cold realities that didn’t look so troublesome not long ago. Inflation won’t be easy to quell, especially as the president is determined to pile on new tariffs even as he walks back some of the early ones. Consumers and investors are getting anxious, and the economy appears vulnerable to a slowdown.

A president who once measured his performance by the stock market is now brushing aside such worries. Hours before his address to Congress, the S&P 500 Index hit a post-election low as Trump’s threats of trade wars with Canada and Mexico turned into reality. It closed even lower on Friday. Treasury bonds declined on the week too, though a drop in oil prices —holding out hope for cheaper gasoline—was a brighter spot.

‘Not even looking’ TRUMP’S message is that any shortterm pain will be worth it to bring manufacturing back to the country.

“I’m not even looking at the market, because long term, the United States will be very strong with what’s happening here,” he said at the White House Thursday.

“It’s going to take an adjustment period for folks on Wall Street,” said EJ Antoni, a research fellow at the conservative Heritage Foundation. “The sky is not falling just because we implement tariffs.”

Bessent said earlier in the week that the administration’s focus was not on Wall Street, but on main street. There, the big economic data release of the week—Friday’s jobs report—offered a mixed picture. Payrolls increased by 151,000, solid enough, but a little below estimates, while unemployment ticked up to 4.1 percent.

Trump, who’s empowered Elon Musk with recommending job cuts in the federal bureaucracy, pointed to higher factory employment in the February report. “The labor market’s going to be fantastic, but it’s going to have high-paying manufacturing jobs, as opposed to government jobs,” the president said.

Kevin Hassett, director of the White House’s National Economic Council, said next steps in the administration’s economic program would push the gains further. “We’ve got to pass the tax cuts and get the deregulation train rolling,” he told Bloomberg Television on Friday. “We’re going to be reducing government employment and reducing government spending, and increasing manufacturing employment.”

Still, there are plenty of signs that American industry—from small firms to giants like Ford Motor Co.— is worried about the trade war. That’s poised to escalate if trade partners retaliate, as they’re threatening to do, with their own duties that will hurt US exporters. The mounting uncertainty may not encourage hiring or investment.

Trump initially pledged tariffs on Canada, Mexico and China in Febru-

Opinion

Evolving rules on tax refunds

TTrump’s message is that any short-term pain will be worth it to bring manufacturing back to the country. “I’m not even looking at the market, because long term, the United States will be very strong with what’s happening here,” he said at the White House Thursday.

ary, but then deferred the ones on the US neighbors. This week, he let the deadline pass and imposed 25% duties on Canada and Mexico, before rushing to offer exemptions, first to the auto industry and then to all trade conducted under the USMCA deal he brokered in his first term.

Trump also doubled the China tariff rate to 20 percent.

‘Probably get kicked out’ FEW industries face a bigger shift than autos, and their reprieve came after bosses from the Big Three carmakers appealed to Trump. But he only gave them a month to rearrange supply chains across North America that have been years in the making. What’s more, Trump warned further delays were unlikely, even though auto companies are about to get hammered by a wave of other measures, too.

Aides are downplaying hopes. “He really doesn’t like the word exemption,” Hassett told reporters Friday. “If I walk in and offer an exemption, then I’ll probably get kicked out of the office. We’ll see how it goes.”

Next up for the auto firms and other industries is the 25 percent charge on steel and aluminum that’s scheduled to begin March 12 and will rattle supply chains once again. April is when the most sweeping measures are supposed to take effect. One set is the so-called “reciprocal tariffs,” which the US will impose on all countries, at a rate deemed equivalent to their own trade barriers. The other will single out specific products, from automobiles and semiconductors to lumber and copper.

‘The great fleecing’ TRUMP’S frenzied trade campaign may be distracting Americans from other policies in the pipeline that will disproportionately help the wealthy, according to Heather Boushey, who served in the Biden administration on the Council of Economic Advisers. She cited Republican efforts to renew tax cuts and reduce the workforces and spending at government agencies.

“It is pure chaos and I worry every day that the chaos is aimed to distract us from the great fleecing of America,” Boushey said. “They have a very clear plan that will require cutting support for Medicaid and other really important programs.”

Alongside spending cuts, Trump is on the hunt for new revenues to offset tax cuts, and tariffs are part of the plan. “The president believes if we can replace income tax revenue with tariff revenue, we can make everybody better off,” Hassett said.

All this sets the stage for another showdown in a month’s time that will again test appetites—among consumers, businesses and investors — for a more wide-ranging trade war.

A Harris poll taken for Bloomberg News last month found that almost 60 percent of US adults expect Trump’s tariffs will lead to higher prices, and that 44 percent believe the levies are likely to be bad for the US economy. Tariffs also have come up a record 700 times during quarterly earnings calls for S&P 500 companies, according to a Bloomberg analysis of transcripts. With assistance from Jonathan Ferro and Jenny Leonard /Bloomberg

Atty. Rodel C. Unciano

TAX LAW FOR BUSINESS

HE recent amendments in our tax laws have also brought some changes on the rules in claiming refunds of erroneously paid taxes as well as refund of unutilized input Value Added Tax (VAT) attributable to VAT zero-rated sales. As we are still in transition, there are still areas which need to be clarified for smoother implementation of the amendments. But for now, let me just highlight the more significant changes to watch out for, without digging deeper into the technicalities and seemingly inconsistent provisions of the implementing rules, for lack of sufficient space.

VAT refund

ONE of the most heavily revised rules on claiming a refund is the refund of unutilized input VAT attributable to VAT zero-rated sales. Through the years, even jurisprudence took part, to some extent, on the modification of the rules on claiming VAT refund.

The period for filing administrative claim for refund or credit of input tax attributable to VAT zerorated sales remains to be within two years after the close of the taxable quarter when the sales were made. The changes were on the period of claiming a judicial claim or in appealing the refund claim with the Court of Tax Appeals (CTA).

For administrative claims, under the old rule, the Commissioner is given a period of 120 days from the date of submission of complete documents in support of the application within which to grant or deny the claim. In case of full or partial denial of the claim, or the failure on the part of the Commissioner to act on the application within the 120-day period, the taxpayer may, within 30 days from the receipt of the denial or after the expiration of the 120-day period, appeal the decision to the CTA.

Republic Act (RA) 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN Law) subsequently reduced the number of days for the Commissioner to decide on the claim from 120 days to 90 days but added a provision that failure on the part of any official, agent or employee of the Bureau of Internal Revenue (BIR) to act on the application within the 90-day period shall be punishable by law.

RA 11976 or the Ease of Paying Taxes (EOPT Law) retained the same period for the Commissioner to decide on the claim but added a

Traders

Wprovision that refund claims shall be classified into risk classifications to determine the extent of verification needed, based on amount of VAT refund claim, tax compliance history, frequency of filing VAT refund claims, among others.

Then came RA 12066, or the CREATE MORE law. RA 12066 likewise retained the 90-day period for the Commissioner to decide on the claim but introduced a level of remedy for the taxpayer to file a Motion for Reconsideration with the Commissioner in case of denial.

So, as it stands now, the taxpayer shall have 15 days from receipt of the full or partial denial to file a request for reconsideration. The Commissioner shall decide on the request for reconsideration within 15 days from receipt. Failure to file a request for reconsideration within the 15-day period shall render the decision final.

In case of full or partial denial of the request for reconsideration, or failure on the part of the Commissioner to act on the application for refund or request for reconsideration within the periods prescribed above, the taxpayer may, within 30 days from the receipt of the decision denying the request for reconsideration, or after the expiration of the 90-day period to decide on the application for refund, or after the lapse of the 15-day period to decide on the request for reconsideration in cases where no action is made by the Commissioner on the request for reconsideration, appeal the decision with the CTA.

Refund of erroneously paid taxes

FOR a long time, Section 204 of the Tax Code has been the governing rule for the administrative claim for refund or credit of erroneously

paid taxes while for filing of judicial claims, Section 229 of the Tax Code is the applicable provision of law. And these rules apply for claims for refund or credit of all erroneously paid national internal revenue taxes including refund of erroneously paid excise taxes, claim for refund or credit of excess and unutilized creditable withholding taxes, claim for refund of erroneously withheld final taxes, among others.

So, under Section 204 of the Tax Code, application for credit or refund of erroneously or illegally collected taxes should be filed with the BIR within two years after the payment of the tax. For judicial claims for refund under Section 229 of the Tax Code, the rule has also been to file the claim within two years from the date of payment of the tax regardless of any supervening cause that may arise after payment.

There was no required specific period of time for the Commissioner to act on the claim for refund. And so therefore, in the case of Commissioner’s inaction on the administrative claim and the 2-year period is about to expire, the judicial claim must already be filed with the CTA to meet the 2-year prescriptive period.

RA 11976 retained the 2-year period for filing administrative claims but now requires the Commissioner to process and decide the claim within 180 days from the date of submission of complete documents in support of the application. In case of full or partial denial of the claim for refund or credit by the Commissioner or there is a failure on the part of the Commissioner to act on the claim within the 180-day period, the taxpayer, within 30 days from the receipt of the decision denying the claim or after the expiration of the 180-day period, appeal the decision with the CTA.

Refund of excise tax on petroleum products

RA 12066 changed the rules for refund of excise tax products sold to international carriers and exempt entities or agencies. As discussed earlier, it used to be that refund of excise tax was governed by Sections 204 and 229 of the Tax Code.

The rules have changed with the enactment of RA 12066 into law.

While RA 12066 retained the 2-year period for claiming administrative claim for refund, the Commissioner is now mandated by law to process and decide the refund claim within 90 days from the submission of complete documents supporting the ap -

plication filed. In case of denial, the taxpayer shall have 15 days from receipt of the denial to file a request for reconsideration, which shall be resolved by the Commissioner within 15 days from the receipt thereof. Failure to file a request for reconsideration within the 15-day period shall render the decision final. In case of full or partial denial of the request for reconsideration, or failure on the part of the Commissioner to act on the application for refund or request for reconsideration within the periods prescribed above, the taxpayer affected may, within 30 days from the receipt of the decision denying the request for reconsideration, or after the lapse of the period to decide on the application for refund or request for reconsideration, in cases where no action is made by the Commissioner, appeal the decision with the CTA.

So, the excise tax refund process is now akin to the amended procedures for refund of unutilized input VAT attributable to zero-rated sales. VAT refund for non-resident tourist FOR a long time, this was not available in our tax laws until the signing into law late last year of RA 12079. So, with the entry of RA 12079 in our legal system, a non-resident tourist shall now be eligible for a VAT refund on locally purchased goods if the following requisites are present: the goods are purchased in person by the tourist in duly accredited stores, the goods are taken out of the Philippines by the tourist within 60 days from the date of purchase, and the value of goods purchased per transaction is equivalent to at least P3,000.

So, taxpayers with tax refund claims should take note of the foregoing amendments in our tax refund rules because non-compliance with the prescribed procedures is futile to the refund claim. Refunds partake the nature of tax exemptions, hence, are construed strictly against the taxpayer.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law) (www.bdblaw.com. ph), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 380.

who bought Trump’s ‘pro-growth’ plan now pay for it

By Jessica Menton & Alexandra Semenova

ALL Street is on edge again, but the culprit this time isn’t just inflation. Instead, equities investors large and small are gripped by fear of slowing economic growth in the US.

The S&P 500 Index has wiped out all of its gains since Donald Trump was elected president on the strength of what Wall Street considered his “pro-growth” agenda. Meanwhile, the technology-heavy Nasdaq 100 Index briefly slumped into a correction Friday after plunging more than 10 percent in 17 days as investors dump the winners that paced the soaring stock market over the past two years.

Inflation remains sticky, unemployment is rising amid the Trump administration’s efforts to slash the federal payroll and growth is slowing from its previous breakneck pace. The combination is leading economists and sell-slide strategists to warn about a bumpy road ahead.

“The stock market is very confused about Trump’s tariff plans,” said Jeremy Siegel, a finance professor at University of Pennsylvania famous for, among other things, calling technology shares “a sucker bet” in March 2000 as the dot-com bubble was peaking. “Is all of this just a negotiating tactic? We don’t know yet. I see an even bigger correction coming after over-exuberance.”

Investors are at a crossroads, unsure which way to go. It’s most acute when it comes to Trump’s tariffs and

the risk of a trade war, which has sent stocks on some wild swings. The S&P 500 just posted a move of more than 1% in either direction for six straight sessions, something it hasn’t done since November 2020, when Trump was in the midst of disputing the outcome of the election.

Even the mega-tech stocks that have served as havens for so long, rising in the face of seemingly every challenge, are now leading the selloff. Nvidia Corp. has erased almost $1 trillion in market value in two months, briefly sliding below that level on Friday before dip buyers stepped in to inch it back above. And a Bloomberg Index of the Magnificent Seven tech stocks—Alphabet Inc., Amazon.com Inc., Apple Inc., Meta Platforms Inc., Microsoft Corp., Nvidia and Tesla Inc.—has dropped more than 12 percent in just three weeks.

“This is an incredibly difficult market,” said Thomas Thornton, founder of Hedge Fund Telemetry, who is holding his highest level of cash. “People are still way too eager to buy. Good bottoms are when people can’t get out fast enough and nobody wants to buy.”

From rookie retail traders to hedge fund pros, no one knows what the

eventual cost of Trump’s sweeping policies really are. His pro-growth plans were tax cuts, deregulation and energy dominance. Tariffs were supposed to bring manufacturing back to the US and create jobs. But so far there’s little evidence of that. Just this week, Trump warned that Americans may feel a “little disturbance” from the trade wars with Canada, Mexico and China. He offered no word on when they’ll see the benefits from his tariff fights. All of this has mom-and-pop investors spooked. For the first time since 2022, the majority of individual investors say they believe stock prices will drop over the next six months, according to a survey by the American Association of Individual Investors. Fewer than 20 percent say they expect prices to rise over that period.

“Be prepared for more ‘Trump pumps’ and ‘Trump dumps,’” said Dennis Dick, head of markets structure and a proprietary trader at Triple D Trading, who’s trading off rumors and headlines fighting trend-following algorithms. “The president never stops talking. It feels like my head is on a swivel.”

The turbulent start to 2025 has Wall Street forecasters rethinking their bullish predictions for stocks at the start of the year. The average target predicted by a survey of two dozen strategists forecast that the S&P 500 would end 2025 at 6,511.36, based on data compiled by

Bloomberg. That implies a roughly 13 percent rise from Friday’s close for a benchmark that’s already down about 2 percent for the year.

“We knew that the optimistic interpretation of the initial year of the Trump administration was way off,” said Barry Bannister, chief equity strategist at Stifel, Nicolaus & Co., who was one of few strategists to predict a decline in stocks this year. “He is a disruptor and has to break down the old order if he’s going to remold some sort of new order, so we knew there would be a period of tumult.”

The focus from here is on Corporate America’s profit growth, which is needed to justify the rich equity valuations. But analysts’ outlooks for the S&P 500 in 2025 have been steadily falling since the start of the year, from expectations of a nearly 13 percent rise in early January to roughly 10 percent now, according to Bloomberg Intelligence. With Federal Reserve officials in a blackout period before a March 19 interest-rate decision, traders will parse each economic data point in the coming weeks for clues about what could drive the stock market’s next move. A survey on job openings is due Tuesday, followed by an inflation report on consumer prices on Wednesday, then a sentiment reading from the University of Michigan Friday. Each should provide clues about how many times the Fed will cut rates in 2025. Bloomberg

Tuesday, March 11, 2025

Award of 8 petroleum SCs, drilling expected in ’25: DOE

By Lenie Lectura

EIGHTpetroleum service contracts await the signature of President Ferdinand “Bongbong” Marcos Jr. and this could happen within the first half of the year, according to an official of the Department of Energy (DOE).

“Potentially, we’ll have new eight contracts by the first half of this year. Eight contracts are now in the Office of the President for execution,” said DOE Undersecretary Alessandro Sales. These eight are a combination of pre-determined areas (PDA) and nominated areas (NA) under the DOE’s Philippine Conventional Energy Contracting Program (PCEP), a transparent petroleum service contract awarding mechanism that allows the government to develop and utilize indigenous petroleum resources under a service

By Joel R. San Juan and Samuel P. Medenilla

RESIDENT Ferdinand Mar-

Pcos Jr. will have the last say on whether to implement or not arrest warrants that may be issued by the International Criminal Court (ICC), the Department of Justice said Monday.

DOJ spokesman Jose Dominic Clavano IV made the statement following unverified reports that the ICC has issued an arrest warrant against Duterte in connection with its investigation into crimes against humanity allegedly committed during Duterte’s bloody anti-illegal drug war campaign.

Palace: ICC arrest in HK difficult IN a related development, Malacañang said the ICC will face difficulty arresting former President Duterte while he is in Hong Kong.

Palace Press Officer Claire Castro said the Philippine government will not be able to assist ICC in the serving of the arrest warrant, which is reported to be forthcoming, against Duterte since he is currently in the autonomous territory of China.

“Since he is in Hong Kong, if the red notice will be served, the Interpol [International Criminal Police Organization] must coordinate with the government of Hong Kong,” Castro said in Filipino in press briefing at the Palace last Monday.

She noted since Hong Kong is not a signatory of the Rome Statue, it is not under the jurisdiction of the ICC.

Face the ICC CASTRO said the Palace is confident that Duterte will not evade the law, while he is abroad, considering his remarks during Quad Committee hearings at the House of Representatives last year.

“He was rushing the ICC [to arrest him]. Didn’t he tell [the ICC] to ‘Hurry up,’” she recalled.

The former President flew to Hong Kong last week to attend a sortie of the Partido Demokratiko Pilipino-Lakas ng Bayan together with his daughter, Vice President Sara Duterte.

The ICC does not have its own police force and enforcement body so

contract with qualified local and international exploration companies.

It may be recalled that the DOE endorsed last year to the Office of the President the award of these service contracts after it concluded the 2024 Philippine Energy Bid Round, which was participated in by well-known international players in hydrogen and petroleum exploration and production.

Back then, the DOE received applications for service contracts that fall under the PDAPH-1 and 2; which are all located in Central Luzon; PDA

BP2 and 3 in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM); NA numbers 10, 11, 12.

The DOE, according to Sales, has received another application nominating an area for the exploration of native hydrogen. “There’s two DP [development and production] contracts and another nominated area no. 14 for hydrogen. There is another hydrogen application that was not yet included here because we still haven’t officially opened the application process. It will be coming out, I think, next year,” he said.

Native hydrogen, as defined by the DOE, is gas that naturally occurs in geologic formations. And fortunately, the kind of geology in which these are found occur in the Philippines.

In the Philippines, major power firms have expressed interest to pursue developing hydrogen.

Aboitiz Power Corp. earlier said it was working with Japan’s largest generation company, JERA Co., Inc. (JERA), for the conduct of a feasibility of co-

firing ammonia on coal plants and hydrogen on LNG (liquefied natural gas) facilities to reduce carbon emissions during thermal power generation.

ACEN Corp. President Eric Francia said green hydrogen could also be considered in the Philippines. In 2022, ACEN and the Puri Usaha Group have agreed to work together in a platform for the joint development of groundbreaking renewable energy projects in Indonesia focusing on large-scale solar power plants, battery energy storage system and green hydrogen projects.

Also, the agency is expecting the drilling of four exploration wells this year.

“In terms of the near term, this year, there are training activities courtesy of our operating partners in Malampaya. So, they have programmed three wells. Two on the near field and one exploration well.

There is also a well on a small discovery in Tindalo in 2024. So, we’re looking to build four wells in 2025,” added the DOE official.

WHILE not impossible, hacking the Commission on Elections’ system for the 2025 super elections would require significant effort, according to its international certifier.

Jack Cobb, president of Alabama-based technology firm Pro V&V, explained on Monday that the system operates within a private, encrypted network.

Cellular providers also isolate election data from other traffic while multiple security layers verify digital keys before allowing transmission.

“They’ll reject anything that’s not real or doesn’t have the correct digital keys,” Cobb said in an interview at the Palacio del Gobernador.

“I’m not saying it’s hack-proof, but it’s going to take a lot of time and effort. The system’s security is enhanced because it won’t be exposed for hours.”

According to Comelec, the transmission process—done after printing the nine election returns—will take only two to three seconds from automated counting machines to various servers.

That brief window is the only time the machines connect to the internet, either via a SIM card or Starlink, using a private network.

Cobb noted that penetrat-

ing Comelec’s heavily secured system within such a short timeframe would be extremely difficult without substantial resources and knowledge. He also emphasized that a hacker would need to be physically present at the precinct to manipulate votes.

“If somebody says they can manipulate the vote, they’d have to be at the machine itself. The machine has three redundant memories, and all three must match at all times. If one doesn’t, it will be overwritten by the two that are consistent,” he added.

As for the certification process, Cobb said Comelec remains on track. The firm is currently reviewing the online voting and counting system to identify any issues.

Pro V&V expects to release its final report between March 31 and April 14.

“We’re still on track. If everything checks out and no additional builds are needed, I’m confident we’ll be done by the end of March,” Cobb said. Once Pro V&V submits its report, it will be forwarded to the Technical Evaluation Committee (TEC)—comprising Comelec, the Department of Science and Technology, and the Department of Information and Communications

it relies on cooperation with countries worldwide and international groups like the Interpol for transferring arrested persons to its detention center in Hague.

It issues a red notice, which serves as a request to law enforcement worldwide to locate and provisionally arrest a person, which has arrest warrant.

Duterte is facing an investigation from the ICC for his alleged crimes against humanity after the anti-illegal drugs campaign of his administration killed at least 6,000 drug suspects.

Last week reports surfaced that the ICC is expected to issue the arrest warrant and recently a red notice against Duterte soon.

However, as of Monday morning, Castro said they have yet to receive an official copy of any warrant.

While Philippines withdrew from the Rome Statute in 2019, Castro reiterated that the government is ready to assist in the arrest of Duterte if it is coursed through the Interpol.

The Presidential Communications Office (PCO) undersecretary appealed to Duterte’s supporters against engaging in unrest in case the former president is arrested by local authorities.

“For example the warrant of arrest will be served and everything is according to the guidelines and rule of law, I hope other citizens don’t become stubborn to stop this like what happened during the arrest of Pastor [Apollo] Quiboloy,” Castro said.

The PNP’s attempts to arrest Quiboloy in August resulted into violent clashes with his supporters.

DOJ: We’ve briefed President MEANWHILE , DOJ’s Clavano pointed out that the Justice department had already submitted its briefer to the President on the implications of implementing an arrest warrant issued by the ICC through the Interpol.

“I think the previous briefer that we have given to the President on the pros and cons of each action, whether to respect the request of the ICC through the Interpol or not, is something that we already

Ex-general Gaerlan named 1st Chief Marshal

By Joel R. San Juan @jrsanjuan1573

THE Supreme Court on Monday announced the appointment of retired Brigadier General Manuel R. Gaerlan as the first Chief Marshal of the newly established Office of the Judiciary Marshal (OJM).

Gaerlan took his oath before Chief Justice Alexander G. Gesmundo on March 10, 2025, at the SC Session Hall.

The creation of OJM is mandated under Republic Act No. 11691 or the Judiciary Marshals Act, which took effect in 2022. Under that law, the OJM shall be

primarily responsible for the security, safety, and protection of the members, officials, personnel, and property of the Judiciary, including the integrity of the courts and judicial proceedings.

Associate Justice Jose Midas Marquez is overseeing the formation of the office.

As Chief Marshal, Gaerlan will lead efforts to ensure the security of judges, court personnel, and judiciary properties across the country.

He will be supported by three Deputy Marshals assigned to Luzon, Visayas, and Mindanao.

The operationalization of the OJM is a key initiative under the

Strategic Plan for Judicial Innovations 2022-2027, which is a brainchild of Chief Justice Gesmundo.

“Chief Marshal Gaerlan brings over 30 years of experience in security, intelligence, investigation, and law enforcement,” the SC said.

Gaerlan, who graduated summa cum laude and class valedictorian of the Philippine Military Academy in 1985, started his career as a cadet in the Armed Forces of the Philippines (AFP), rising to the rank of First Lieutenant by 1988. He served the Philippine National Police for 27 years as Chief of the Marikina City Police Station, Division Chief and Assistant Director for Operations of the Criminal Investi-

Editor: Jennifer A. Ng

Exec: IMI losses shrink on restructuring efforts in ’24

By VG Cabuag @villygc

AYALA-LED Integrated MicroElectronics Inc. (IMI) said it posted a net loss of $77.05 million last year, narrower than the $118.27 million recorded in 2023.

IMI said it undertook a “comprehensive restructuring initiative,” streamlined its management structure by flattening the organizational hierarchy and “enhanced accountability at all levels.”

The company also optimized its global footprint by closing and rationalizing facilities in California, Malaysia, Singapore, Japan and Chengdu in China. The one-time expenses related to these activities, along with additional provisioning in the company’s balance sheet, have resulted in a core net loss of $24.6

million for the year and an additional $11.9 million related to impairment of goodwill from its non-core subsidiary, the company said. Without these one-time expenses, adjusted net income for whollyowned subsidiaries comes in at $3.7 million, the company said.

“While the restructuring efforts resulted in one-time expenses, they were essential to creating a leaner, more agile organization. We are already starting to see positive results from our initiatives, and we are looking forward to seeing the full ef-

fect of these actions in the years to come,” Louis Hughes, the company’s CEO, said.

“IMI has long been recognized as a global leader in automotive electronics. One of our goals now is to extend this expertise and absolute commitment to quality into new markets including the industrial and medical sectors. We believe that this direction will allow us to unlock more opportunities for sustainable and profitable growth for IMI.”

Revenues for the year reached $1.09 billion, 17 percent lower than the previous $1.32 billion. About $981 million was generated from core businesses, the company said.

The company said wholly owned subsidiaries continued to be affected by prolonged recovery challenges in the automotive and industrial markets resulting in a 12 percent decline in sales year-on-year.

VIA Optronics ended the year

with revenues of $118 million and a net loss of $13.3 million attributable to IMI including one-time expenses for headcount rationalization and the delisting process from the New York Stock Exchange amounting to approximately $4.3 million.

Despite facing continued challenges in the display market, the company said it made significant strides in innovation and partnerships.

VIA collaborated with Antolin to develop Sunrise an integrated cockpit solution. The project was recently recognized in the Gasgoo Awards’ “Smart Cockpit” category held in Shanghai. The company also partnered with JF Kilfoil, a leading firm supporting the component, interconnect, and printed circuit board manufacturers in the Midwest electronics market.

This alliance is designed to drive innovation and deliver solutions addressing touch and camera technology requirements in the US markets, the company said.

‘DICT platform optimizes govt operations’

By Lorenz S. Marasigan @lorenzmarasigan

THE Department of Information and Communications Technology’s (DICT) E-Government Data Exchange Platform (eGovDX) has facilitated over 440 million transactions since its launch in May 2023.

“Data interoperability is crucial in building a responsive and efficient digital government. With eGovDX, we are eliminating redundancies, cutting costs, and ensuring that citizens don’t have to submit the same documents over and over again to different agencies,” DICT Undersecretary for e-Government David L. Almirol Jr. said.

Rating from JCR seen broadening Ayala investor base

CONGLOMERATE Ayala Corp. has received a rating of Afrom the Japan Credit Rating Agency Ltd. (JCR) for the company’s inaugural foreign currency longterm issuer.

The company said the rating will enhancing the company’s access to yen-denominated loans to fund growth initiatives at competitive rates.

The said A- rating from JCR is in line with the Philippine sovereign rating.

The outlook for this rating is stable, Ayala said.

A rating of “A-” indicates a relatively high level of creditworthiness and suggests that Ayala has a strong capacity to meet its financial commitments.

The rating enhances Ayala’s ability to tap credit and capital markets, broadening its investor base to include access to Samurai loans.

Mizuho Bank acted as advisor for the company’s JCR rating.

In a report released by JCR, Ayala’s creditworthiness was highlighted due to the strong business foundation of its four main segments that generate stable cash flow and its relatively favorable financial balance to support the strong growth potential of its business portfolio. VG Cabuag

Designed to streamline interagency data exchange without direct data sharing, eGovDX has elimi-

nated costly system duplications, reduced redundant data collection, and simplified document submission processes.

Modeled after Estonia’s X-Road platform, the system enables government agencies to interconnect securely and efficiently, improving overall service delivery.

The eGovDX started during the term of resigned ICT Secretary Ivan Uy.

Almirol noted that other projects — the eGovPH Super App, the Digital National ID, and the National Fiber Backbone — complement eGovDX’s goal of “fostering a more connected and efficient public sector.”

To date, the government has issued about 84 million Digital Na-

tional IDs, which have been used in over 100 million transactions.

Meanwhile, the eGovPH Super App now has 11 million users and 120 million recorded use cases. The mouse app consolidates services from agencies such as the Department of Health (DOH), PhilHealth, Government Service Insurance System (GSIS), and the Land Transportation Office (LTO), among others.

Additionally, it includes features like eJobs, eHealth, eTravel, and OFW Services, further expanding digital governance capabilities.

National Fiber Backbone’s Phases 2 and 3, meanwhile, are slated for completion by July.

Uy’s resignation was accepted by President Marcos last Friday.

Foreign players keen on critical minerals industry, says BOI

FBy Andrea E. San Juan @andreasanjuan

OUR global leaders in mining and mineral processing, as well as technical service providers for mining, metallurgical, energy, and infrastructure industries have expressed interest in hastening the Philippines’s development of its critical minerals industry and its value chain, according to the Board of Investments (BOI).

BOI said this was the “highlight” of the Philippine delegation’s participation in the Prospectors & Developers Association of Canada (PDAC) 2025 in Toronto,Canada.

The agency said the Philippine delegation engaged with four global leaders in mining and mineral processing, as well as technical service providers for the mining, metallurgical, energy, and infrastructure industries.

“These influential players expressed strong interest in the Philippines’s potential, signaling promising opportunities that will boost the country’s development in the critical minerals industry and its value chain,” the BOI said in a statement on Monday.

Despite the 50-year moratorium on mining imposed by the provincial government of Palawan last March 5, Ma. Corazon Halili-Dichosa, BOI Executive Director for Industry Development Services, said the government is still determined to tap the

“high potential” of the country’s mineral resources. (See related story: https://businessmirror. com.ph/2025/03/06/palawanbans-new-mining-applicationsfor-50-years/)

“The country has around 9 million hectares with mineral potential but only less than 3 percent have mining permits. As such, investment opportunities in mining, mineral processing and related services across the supply chain abound in the country,” she said.

“The government is determined to tap the high potential of our mineral resources and have it contribute more to our economic development.”

In a message sent to reporters, Halili-Dichosa said Palawan is one of the 3 known nickel mining clusters, together with Surigao and Zambales.

Considering that the country has 9 million hectares with mineral potential and only less than 3 percent have mining permits, she noted, “we still have lots of areas that can be explored.”

Identification of potential mining areas, she added, will be done with the Department of Environment and Natural Resources (DENR).

“The support we received from industry leaders at PDAC 2025 reinforces the value of international collaboration as global demand for critical minerals increase towards clean energy transition and meet net-zero emission targets.”

Banking&Finance

‘Family first’ rules Pinays’ financial trek–study

By Reine Juvierre Alberto @reine_alberto

WHILE most Filipino women feel financially empowered, a strong “family first” mentality often leads them to sacrifice their financial goals for their loved ones’ needs.

Kong SAR, Indonesia, Malaysia, the Philippines, Singapore and Vietnam.

Due to a deep-seated sense of duty and emotional bonds, 80 percent of Filipina primary earners in their households place their family’s needs above their own, while 70 percent of Filipinas routinely prioritize their family’s financial needs.

generational responsibilities. However, today’s mothers are expecting less support from their children as they grow older. Only 16 percent anticipate full support from their children in old age.

Financial security

cial security, they think they should have enough savings to pay for unexpected expenses (78 percent) or become debt-free (59 percent).

DESPITE their desire to become financially independent, the study noted the lack of confidence in their financial knowledge and awareness of investment opportunities.

A new research by Sun Life Financial Asia Services Ltd. revealed that about 60 percent of Filipino women perceive their finances are more secure than their mothers’ finances were at the same age. Majority of women also demonstrate a strong “family first” mentality when it comes to financial decisions, read the report titled “Women’s Wealth in Focus: Building Confidence and Security.”

Most, or 80 percent, of Filipino women forego medical treatment in order to provide for their family members’ care. As their parents age, 52 percent of Filipinas are contributing to their parents’ elderly care with 29 percent of them describing this as a significant financial burden, the study revealed.

The study involved more than 3,000 female respondents from Hong

Navigating global market uncertainties: Why fundamentals matter in investing

RECENTLY, the newly elected President of the United States implemented new regulations in terms of tariffs, immigration, and more changes in terms of the administration’s direction.

In today’s fast-moving global economy, investors are constantly facing new challenges. Geopolitical tensions, shifting trade policies, inflation concerns, and regulatory changes can introduce market volatility and uncertainty. Yet, despite these fluctuations, one principle remains steadfast: successful investing is anchored in solid fundamentals. By focusing on core investment principles, diversifying portfolios, and adapting to economic shifts, investors can navigate the market with confidence.

1. The power of fundamentals. With so much noise in the market, it’s easy to get distracted by daily price swings. But real wealth is built by understanding the fundamentals. Strong companies— those with solid balance sheets, steady earnings and clear competitive advantages—tend to win over the long run. Instead of reacting to every market headline, focus on what truly drives a company’s success: consistent revenue; profitability; and, a strong position in its industry. Especially in times of uncertainty, financially sound businesses—those with healthy cash reserves, manageable debt, and sustainable profit margins—are the ones that weather storms and come out stronger.

2. Diversification. Market ups and downs are inevitable, but diversification is your shield against unnecessary risk. A well-balanced portfolio spreads investments across different asset classes, industries, and regions, reducing the impact of any single market event. For example, rising interest rates may hurt bond prices, but financial companies often benefit. Economic downturns may hit luxury brands, but essential goods like food and healthcare tend to stay strong. Diversification won’t eliminate risk, but it does help smooth out the bumps and create a more resilient investment strategy.

3. Navigating political and economic risks. Elections, policy changes, and global events can send shockwaves through the market. Tax reforms can shift corporate profits, while geopolitical tensions can impact commodities like oil and gold. The mistake many investors make? Reacting impulsively. Instead of trying to predict every political shift, focus on long-term implications. Defensive stocks, dividendpaying companies, and alternative assets like gold and real estate can serve as a hedge against uncertainty. The key is to stay informed, not emotional.

4. Innovation. Innovation is a gamechanger in investing. Companies that embrace change whether through AI, renewable energy, or digital transformation often create massive opportu-

nities for long-term growth. However, not all innovation leads to success. The challenge is distinguishing real potential from hype. Before investing in the next “big thing,” ask: Does this company have strong financials? A viable business model? Real market demand? The best investments balance optimism with due diligence.

5. Long-term discipline. One of the biggest pitfalls in investing is letting emotions dictate decisions. Fear and greed lead people to buy high when markets are soaring and sell low when panic sets in.

6. Portfolio management or review. Reviewing your financial portfolio regularly with the help of a finance professional can help you identify if the risks and reward allocation still matches your risk appetite and investment goals. For example, the combination of 60-percent equities and 40-percent bonds may not be the suitable allocation for you, or maybe splitting the equities to both local and global allocation can be more strategic if you are considering a more global diversification strategy. This will still boil down to the horizon and perspective of our allocation and strategies.

History proves that patient investors, those who stick to their strategies through ups and downs, tend to outperform speculators. As Warren Buffett puts it, “The stock market is a device for transferring money from the impatient to the patient.” Staying committed to a sound plan and resisting emotional reactions is the key to harnessing the power of compounding and achieving long-term financial success. The market will always have ups and downs, political uncertainties, and shifting trends. But successful investing isn’t about predicting every twist and turn—it’s about staying anchored in fundamentals, diversifying wisely, and maintaining discipline.

By focusing on strong businesses, spreading investments across different sectors, and avoiding impulsive moves, you can build a resilient portfolio that weathers volatility and thrives in the long run.

The economy will keep evolving; but investors who stay true to timetested principles will always have the upper hand.

Karlo Biglang-awa is a Registered Financial Planner of RFP Philippines. The views he expressed herein do not necessarily reflect those of the BusinessMirror’s. To learn more about investment planning, attend the 110th batch of RFP Program this March. Email info@rfp.ph for more details on how to join.

About 36 percent of Filipina mothers also cited stress from juggling the financial needs of their children and parents as they manage multi-

In rating their knowledge of financial and investment products, 71 percent of Filipinas have basic or beginner-level knowledge. Filipino women also cited paying off debt (53 percent) and limited investment opportunities (44 percent) as barriers to financial security.

To feel they have achieved finan-

For mothers, their top goals are saving for their children’s education (57 percent), teaching financial literacy and investment principles to their children (49 percent) and creating an emergency fund to offer a financial safety net (47 percent).

“Seeking expert advice can help address concerns about unforeseen financial risks. This approach not only helps protect against unexpected costs but also ensures that women can maintain their desired lifestyles while working towards long-term financial security,” Sun Life of Canada (Philippines) Inc. Chief Client Experience and Marketing Officer Carla Gonzalez-Chong said.

The insurer recommends seeking out specialized advice by speaking to a financial planner or advisor to identify the financial products that help women achieve their goals. A financial plan will also enable women to meet their personal financial targets as well as their family’s needs, the company added. Healthcare insurance, life insurance and critical illness coverage will also help women for the unexpected, according to the insurer.

According to the Insurance Commission, insurance penetration, which is the ratio of insurance premiums to the country’s gross domestic product, inched up by 0.06 percent year-on-year, from 1.61 percent as of the fourth quarter of 2023 to 1.67 percent as of the same quarter last year.

Govt agencies’ budget use accelerated ahead of polls

STATE agencies accelerated their budget utilization by the end of December 2024, as part of preparations for the upcoming midterm elections, based on the latest data from the Department of the Budget and Management (DBM). Line departments, state-run corporations and local government units (LGUs) posted a 99-percent budget utilization rate as of endDecember 2024, slightly faster than the 98 percent rate recorded during the same period in 2023.

This means a total of P4.830 trillion was utilized out of the P9.903trillion notice of cash allocation (NCA) released by the DBM. NCAs are cash authorities issued

Investor

to central, regional and provincial offices and operating units to cover the cash requirements of the government agencies. A higher NCA utilization rate shows the capacity of agencies to disburse their allocated funds on time and implement their programs and projects.

DBM data showed line departments utilized P3.651 trillion of the P3.722 trillion cash allocation. This translated to a 98 percent utilization rate as of end-December 2024.

Among the government agencies, the Departments of Interior and Local Government (DILG), Public Works and Highways (DPWH), Labor and Employment (DOLE), Social Welfare and Development (DSWD)

demand pulls T-bill

rates downward

THE Bureau of the Treasury (BTr) upsized the award of short-dated Treasury bills (T-bills) to P30.8 billion as strong investor demand drove rates downward.

On Monday’s auction, the Treasury raised P30.8 billion from T-bills, higher than the P22 billion the BTr initially offered.

Demand for the government securities reached P90.598 billion, making the auction 4.1 times oversubscribed.

Broken down, bids of the 91day T-bills hit P35.628 billion, while P9.8 billion was awarded of the P7 billion programmed amount.

Average rate of the 91-day tenor T-bills settled at 5.178 percent, 10.5 basis points (bps) lower than the 5.283 percent yield of the same tenor during the previous auction last week.

Meanwhile, the 182-day Tbills fetched an average rate of 5.548 percent, down by 6.2 bps from last week’s 5.503 percent.

Total bids for the debt papers reached P30.050 billion, of which P9.8 billion was awarded out of the P7-billion offer.

Further, the 364-day T-bills inched up by 0.3 basis points to 5.773 percent from 5.770 percent in the previous auction. The rate settled between 5.755 percent and 5.779 percent.

The tenor attracted total bids of P24.920 billion, leaving the Treasury to award P11.2 billion, more than the P8-billion initially programmed.

Rates of all tenors were lower than the comparable Philippine Bloomberg Valuation (PHP BVAL) benchmarks. The PHP BVAL reference rates are 5.270 percent for the three-month tenor, 5.610 percent for the sixmonth tenor and 5.794 percent for the one-year tenor.

T-bill yields decreased as inflation improved and eased to 2.1 percent in February, accord-

ing to Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.

Inflation settled to the central bank’s target range of 2 percent to 4 percent, which raises the possibility of a 25-bps reduction in key policy rates in April’s ratesetting meeting of the Monetary Board.

Ricafort said declining global crude oil prices and a stronger peso “could support further improvement in the inflation data that could help further justify future local rate cuts/monetary easing, going forward.”

Standard Chartered Bank Asia Economist Jonathan Koh said their full year average forecast remains at 3.1 percent for this year.

“We see lower rice prices, lower rental inflation and contained core inflation (amid subdued consumption) helping offset upside risks from higher electricity prices,” Koh said in a brief.

According to Ricafort, there are two factors that will help improve sentiment on the local economy and financial markets.

One is the decision by the Bangko Sentral ng Pilipinas (BSP) to lower banks’ reserve requirement ratio (RRR), which could infuse about P330 billion into the banking system. Another is the country’s exit from the grey list of the Financial Action Task Force.

This month, the Treasury aims to raise a total of P88 billion through T-bills and P125 billion from long-term Treasury bonds.

The government will borrow P2.545 trillion this year, following an 80:20 mix in favor of local sources.

The government’s outstanding debt reached a new record high of P16.312 trillion as endJanuary 2025, as peso depreciation continued to weigh on financial obligations. Reine Juvierre S. Alberto

and The Judiciary posted a 100 percent utilization rate.

Meanwhile, the Department of Human Settlements and Urban Development (DHSUD) has the lowest cash utilization rate at 67 percent trailed by the DBM at 72 percent.

Moreover, government-owned and -controlled corporations (GOCCs) used up P146.725 billion of their P147.992-billion budgetary support. This led to a utilization rate of 99 percent. LGUs also employed 100 percent or P1.032 trillion of their cash allocation.

The faster spending is part of the preparations for the upcoming midterm elections to expedite various government projects before the

election, according to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC). Ricafort added that the progress in infrastructure and programs is considered a basis for accomplishments by voters.

“Higher/improved utilization rate would lead to faster government spending and overall GDP/economic growth,” the RCBC executive said adding that lower utilization rate in the past months dragged these factors.

This year, the DBM released a total of P300.669 billion, of which P233.799 trillion was used up, posting a utilization of 78 percent.

THE Ayala-led Bank of the Philippine Islands (BPI) announced recently of having launched a digital system designed to simplify payroll processing for businesses while ensuring a “smooth onboarding experience” for employees.

The bank said employees will benefit from a simpler, more accessible payroll account opening process. With the new digitized system called “ePayroll,” there’s no need to visit a BPI branch, as the new system l makes account setup fast and seamless.

“With just a few clicks, employers can onboard their employees, upload payroll details in a single file, and ensure salary disbursements without delays,” the lender said.

Beginning last month, businesses can access BPI ePayroll through BPI BizLink, BPI’s corporate banking platform that streamlines payroll processing, collections, disbursements and liquidity management.

“With BPI ePayroll, our corporate clients can now handle the entire payroll account setup and employee onboarding digitally, offering ease and accessibility,” John-C Syquia, the lender’s institutional banking head, said. Employers can upload employee infor-

mation in a single file through BizLink with just one ID requirement. Within the hour, employees will receive their ePayroll invitations along with a unique reference code, sent via both email and SMS. This secure code allows them to access the ePayroll portal and register within seven calendar days.

Employees can complete their ePayroll account setup anywhere, using their mobile phones, tablets or laptops. Whether they are at home, at work, or on the go, the platform makes the experience seamless.

To further streamline the process, employers will receive detailed daily reports, allowing them to accurately track and document newly opened accounts with ease.

The bank said ePayroll is designed to meet the needs of both businesses and employees by providing a secure, reliable and user-friendly payroll solution.

“With BPI ePayroll, we’re not just offering automation—we’re making payroll management simple for businesses and employees alike. By eliminating complex account opening processes and providing a seamless salary experience, we empower companies to focus on growth while giving employees easy access to their earnings,” Syquia said. VG Cabuag

Reine Juvierre S. Alberto

Karlo Biglang-Awa

BITCOIN DROPS A cartoon image of

Pasig City.

Art BusinessMirror

Kino’s spellbinding stories come alive in single panels

‘EVERY artist dips his brush in his own soul, and paints his own nature into his pictures.”

The eloquent quote by American social reformer Henry Ward Beecher expresses the idea that an artist’s inner self is inevitably present in their work. In the case of Filipina visual artist Marc Nicole Herrera, who goes by the name Kino, it is deliberately reflected, with her whimsical paintings bearing much more than what is seen on the surface level.

It was a windy February afternoon at Rojo Galerie in Pasig City when Kino came in for our scheduled interview. The 25-year-old graduate from the University of the East Caloocan had been preparing for her debut solo exhibition, titled The Way Things Go, opening this Thursday, March 13. She appeared tense about it all—more so for the interview—and openly admitted as much.

Kino gradually loosened up, growing more confident in every answer. She became more direct with her eye contact and spoke more eloquently. The young, timid girl who walked through the door a few moments ago revealed herself to be a rational thinker wise beyond her age.

“It’s about finding solace in oneself,” the artist said of her upcoming first solo. “Hindi lang porke’t may flaws ka, ’yun na ’yung end of the world. Minsan, sila pa ’yung bubuo sa’yo.”

Kino’s artworks take inspiration from the classic anime aesthetic, featuring subjects with full, expressive eyes. The stylized imagery draws a sense of nostalgia from familiar scenes, with her childlike subjects serving as avatars of the reminiscent viewer in the surreal world.

Perhaps more impressive than her precise, almost print-like paintings are the narratives they convey. The artist identifies herself as visual storyteller. Having grown up as an only child, Kino found comfort in fictional stories, particularly cartoons and animes. She’s captivated by the character design and entranced by what happens next. She also roamed the tree-lined streets around their Valenzuela home, visualizing characters and creating stories in her head.

In kindergarten, Kino remembers being called out by teachers for filling her papers with sketches, even

on exams. She was around four years old. As early as then, the budding artist was set on recreating her favorite characters, or drawing even better versions of them. Her mother remained by her side through it all. As an interior designer and a frustrated artist, she was nothing but supportive, encouraging her daughter and providing her with art materials.

Masasabi ko na malaking influence talaga ang mom ko sa pagiging artist ko,” Kino said. She also cited local artist Drin as a major artistic influence, particularly on her pastel color palette.

Meanwhile, in terms of narrative, the “slice of life” themes popularized by renowned animation company Studio Ghilbi appeal to her the most. This idea of naturalism that present a seemingly arbitrary sequence of events in a character’s life likewise serves as the concept of Kino’s debut solo exhibition.

In The Way Things Go, Kino proves she’s ready for the spotlight. Narrative-driven paintings follow several characters going about the everyday, while exploring the complex concepts of self-discovery and acceptance.

Kino said her most favorite stories feature flawed, relatable characters, “’yung mahahanap ’yung way nila Her pieces showcase similar types who, like her, are coming to terms with their individualities. Moreover, the depicted scenes, like her, reveal layers beyond what’s initially perceived. In the corners of scenes where the subjects appear frozen in time rest creative elements, symbols, and gestures that keep the story moving forward. A slight smirk here or a bird origami there hints at a colorful backstory, or how the narrative will unfold. Through it all Kino withdraws herself from the equation. She simply lays out the variables and lets the audience decide the rest of the story. “Bahala na ’yung viewer mag-imagine,” she said. “It’s up to their interpretation—kung paano nila iisipin.” that breathes life into the paintings of Kino. These engaging, even rewarding, narratives can go about a million different ways depending on the interpretation of the viewer, and these possibilities all happen in the single panel of her canvas.

By Eugenia Last

Kino’s The Way Things Go opens on March 13, Thursday, at Rojo Galerie, located at Robins Design Center, Meralco Avenue, Pasig City. Follow www. facebook.com/rojogalerieph/ and www.instagram.com/ rojogalerieph for updates. ■

CCP Thirteen Artists Awards ‘Creative Continuum 1970-2024’ exhibit opens to the public

THE Cultural Center of the Philippines (CCP) presents Creative Continuum 1970-2024, featuring archival materials, exhibition catalogs, videos, artist-designed trophies, and artworks that present selections from the history and evolution of the Thirteen Artists Awards (TAA) on Philippine contemporary art. Creative Continuum 1970-2024 marks the first exhibition of the year for the CCP Visual Arts and Museum Division. The exhibition opened on February 1,

2025 for the CCP Pasinaya Open House Festival and will run through May 18 at the Bulwagang Roberto Chabet, Tanghalang Ignacio Gimenez. Viewing hours are 10 am to 6 pm, Tuesdays to Sundays. Hours are extended until 10 pm on days with evening performances at the Tanghalang Ignacio Gimenez. Public programs will be held throughout the exhibit duration to allow guests to learn more about the Thirteen Artists Awards. The prestigious awards program honors young visual artists whose

innovative practice has contributed to the development and expansion of Philippine contemporary art.

Now in its 54th year, the Thirteen Artists Awards began as a curatorial project of the CCP Museum, led by its first curator Roberto Chabet, aimed at showcasing the works of Filipino artists who sought to “restructure, restrengthen, and renew artmaking and art thinking that lend viability to Philippine art.”

Raymundo Albano, the subsequent

director of the CCP Museum and NonTheater Operations, transformed the CCP TAA into the awards program recognized by the Filipino arts community today. From 1970 to 1980, the TAA was held every two years. It continued in 1988, 1990, 1992, and 1994. After a short hiatus, the TAA was revived in 2000 and transitioned into its current triennial format.

To see the full roster of Thirteen Artists since 1970, visit thirteenartists. culturalcenter.gov.ph.

GEMINI

CANCER (June 21-July 22): An innovative approach to whatever someone asks you to do will help you surpass expectations. Be cognizant of others, but refuse to let anyone outshine or manipulate you. Put your best foot forward, and put your energy where it counts. ★★★

LEO (July 23-Aug. 22): Go about your business, finish what you start and set your priorities straight to avoid outside interference. Personal improvements, educational pursuits and being proactive will help you get ahead and establish a routine that encourages success. Implement self-love into your routine. ★★★

VIRGO (Aug. 23-Sept. 22): Visit a destination that offers visual, mental or emotional stimulation. Igniting your senses, giving yourself a chance to dream and putting your life in perspective will help you pave a smooth path forward. Trust and believe in yourself, and you won’t be disappointed. ★★★

LIBRA (Sept. 23-Oct. 22): Take the time to interact with knowledgeable people, and expand your circle of friends and interests. Doors will open, and proposals will spark your imagination and help you prioritize your schedule to ensure you get to explore what draws your attention most. ★★★★

SCORPIO (Oct. 23-Nov. 21): Turn up the volume and put your running shoes on; it’s time to get serious and get things done. Refuse to let emotional situations overrule your plans or hinder your reputation or ability to finish things on time. Stay focused, and you’ll outsmart and outdo anyone who wants to slow you down. ★★

SAGITTARIUS (Nov. 22-Dec. 21): An open mind, courage and a positive attitude will help you navigate highs and lows. Refuse to let outside influences dampen your day or the things you want to pursue. Live life in the moment, and don’t deny yourself the right to pursue what makes you happy. ★★★★★

CAPRICORN (Dec. 22-Jan. 19): Look for alternative ways to stretch your money. Whether you start a sideline business, invest or apply for a higher-income position, you will discover you have more control over your financial future than you anticipated. ★★★

AQUARIUS (Jan. 20-Feb. 18): Home improvements that help to lower your utilities or overall expenses are achievable. Do the work yourself when possible, and oversee any outsourcing to ensure you get your money’s worth. Fixing up your surroundings or updating your appearance will boost your confidence and make you feel good about pursuing prospects.

PISCES (Feb. 19-March

Steve Carell surprises Southern California high school students with free prom tickets

LOS ANGELES—Actor Steve Carell is sending Southern California high school students affected by the devasting wildfires in Los Angeles to the prom for free.

The Office actor and comedian said on Tuesday in an Instagram video that he was working with the Alice’s Kids charity to pay for prom for seniors at six high schools in Pasadena.

“If you have already paid for your prom tickets, they will reimburse you for your prom tickets. It’s a pretty good deal,” Carell said.

The Los Angeles area fires destroyed more than 16,000 homes, businesses and other structures, and killed at least 29 people in the Pacific Palisades neighborhood and Altadena area north of Pasadena. It also scorched school campuses, upending the lives of thousands of students and parents who were left scrambling looking for classrooms for their kids to go to.

Alice’s Kids will donate about $175,000 for more than 800 students to attend the annual right-ofpassage dance for graduating students. Tickets typically range from $100 to $150 each.

“Going to prom should be a celebration, and we wanted to help make the big night just a little easier for seniors whose lives have been turned upside down by the wildfires,” Ron Fitzsimmons, executive director of Alice’s Kids, said in a statement. “Hopefully this allows the students to unwind and have some fun after a devasting year.”

An Instagram video posted by John Muir High School, one of the recipient schools, show students clapping and cheering as they were surprised with Carell’s announcement during a school assembly.

Another recipient includes Aveson Charter School, whose campus for kindergarten through 5th grade students burned down in the fires and building for sixth through 12th graders is damaged and unusable. Carell also participated in the star-studded “Skate for LA Strong” hockey tournament last week to raise money for fire relief.

In closing, the actor said: “Have fun, enjoy the prom. And remember, this is Steve Carell.”AP

JC Regino bares heartbreak in latest single under GMA Music

GMA Music singer JC Regino will once again tug at the heartstrings of listeners with his latest single “Babytawan,” under GMA Music. The track is now available for streaming and download on various digital platforms.

Babytawan” talks about the pain of being left behind in a relationship, where the promise of being a “baby” turns into a painful “babytawan.” It also talks about the desperation of wanting one last embrace with a loved one before parting ways, while still holding onto the love and gratitude shared between the two of you.

Regino shares that he wrote the song last year in just one week, inspired by the various celebrity breakups that happened during the previous year.

Madami po kasi akong nababalitaan na naghihiwalay kaya naisulat ko ang kantang ito. Kasama na rin po siguro dito ’yung personal experience ko, kasi madami na rin po akong baby na iniwan ako,” he confesses.

With this song, Regino also hopes to connect to his listeners on an emotional level.

Sana maramdaman nila ang sakit ng song, na masakit talaga kapag bigla ka na lang binibitawan. Sana wala nang mang-iwan na lang bigla,” he says. gmanetwork.com.

Robert Pattison sci-fi ‘Mickey 17’ opens in first place, but profitability is a long way off

By Lindsey Bahr The Associated Press

PARASITE filmmaker Bong Joon Ho’s original science fiction film Mickey 17 opened in first place on the North American box office charts. According to studio estimates on Sunday, the Robert Pattinson-led film earned $19.1 million in its first weekend in theaters, which was enough to dethrone Captain America: Brave New World after a three-week reign. Overseas, Mickey 17 has already made $34.2 million, bringing its worldwide total to $53.3 million. But profitability for the film is a long way off: It cost a reported $118 million to produce, which does not account for millions spent on marketing and promotion.

A week following the Oscars, where Anora filmmaker Sean Baker made an impassioned speech about the importance of the theatrical experience— for filmmakers to keep making movies for the big screens, for distributors to focus on theatrical releases and for audiences to keep going—Mickey 17 is perhaps the perfect representation of this moment in the business, or at least an interesting case study.

weekend. Internationally, it did especially well in Korea, where it made an estimated $14.6 million.

Jeff Goldstein, who heads domestic distribution for Warner Bros., said, “47 percent of the audience saw it in premium format, which shows that there’s a big interest from cinema fans to see the movie.”

It’s an original film from an Oscar-winning director led by a big star that was afforded a blockbuster budget and given a robust theatrical release by Warner Bros., one of the few major studios remaining. But despite all of that, and reviews that were mostly positive (79 percent on RottenTomatoes), audiences did not treat it as an event movie, and it may ultimately struggle to break even.

Originally set for release in March 2024, Bong Joon Ho’s follow-up to the Oscar-winning Parasite faced several delays, which he has attributed to extenuating circumstances around the Hollywood strikes. Based on the novel Mickey7 by Edward Ashton, Pattinson plays an expendable employee who dies on missions and is reprinted time and time again. Steven Yeun, Naomi Ackie, Toni Collette and Mark Ruffalo also star. It opened in 3,807 locations domestically, performing best in New York and Los Angeles.

Premium large format showings, including IMAX screens, also accounted for nearly half of its opening

“Director Bong is one of the few marquee directors out there along with Denis Villeneuve, Quentin Tarantino and Chris Nolan whose fans really drive moviegoing,” he added.

Mickey 17 also has several weeks free of big competition; the studio is looking at the long game.

Second place went to Captain America: Brave New World, which added $8.5 million from 3,480 locations in North America and $9.2 million internationally. Its global total currently rests at $370.8 million. The Walt Disney Studios is on track to become the first studio to cross $1 billion in 2025 sometime this week.

Holdovers Last Breath, The Monkey and Paddington in Peru rounded out the top five. The weekend also had several other newcomers in In the Lost Lands, a fantasy film from Paul W.S. Anderson starring Milla Jovovich and Dave Bautista, and Angel Studios’ Rule Breakers, about Afghani girls on a robotics team.

Neon upped the theater count for Anora to nearly 2,000 screens after it won five Oscars on Sunday,

Two newbies to watch out for

A NEW actor that is making a lot of heads turn is Michael Sager, the leading man of teen sensation Jillian Ward in the TV series My Ilonggo Girl.

Raised in Canada, but born in Marinduque province, Sager told us that he always looks forward to Holy Week in the Philippines.

“Where I was born in a town called Gasan, a highlight of our cultural traditions and religious beliefs is the Moriones festival during the Lenten season. I had the privilege of participating in the age-old tradition, and I’ve been telling my friends in Canada how amazing the festival is and why they should come and visit the Philippines because we do not only have thousands of beautiful islands but we also have the most colorful and happiest festivals all year round.”

Sager is happy that he was cast as a leading man this early in this career. “I am so grateful and I know that this kind of an opportunity does not happen to many, that is why I make sure that I come to the set always prepared and in high spirits, knowing that so many hopefuls would want to be in my place.”

He added, “Working with Jillian is amazing because she is fun, and she allows me to create my own space in our tandem and I think that it is so very generous for someone who is a big star already with a proven record of a high-rating series where she was

including best picture, best director and best actress. It earned an estimated $1.9 million (up 595 percent from last weekend), bringing its total grosses to $18.4 million.

According to data from Comscore, the 2025 box office as a whole is up 1 percent from where it was last year as of this weekend and down 34.2 percent from the last pre-pandemic box office year of 2019.

“That is the rollercoaster that is the box office,” said Paul Dergarabedian, the senior media analyst for Comscore. “You have two or three down weeks, it can profoundly impact the bottom line and the percentage advantage. But it will come back again.”

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. Final domestic figures will be released Monday. 1. Mickey

Dasom, winner of the Manhunt International 2024 pageant, is part Thai and part Irish, and he is now in Manila working as an actor for the GMA series Binibining Marikit.

Now in his early 30s, Dasom is also a former professional basketball player with years of experience competing in tournaments around the globe. A sought-after model who has worked for big brands across Asia, Dasom told us that signing a contract with the Sparkle GMA artist management team last December was one of life’s surprises.

something fun. I also love the fact that my coactors are fun to work with, especially Herlene [Budol] who is naturally charming and funny.”

He added, “Acting is a new territory and I admit that I am still learning the ropes, but the show that I am part of now is providing many opportunities for me to learn what I need to learn in this new career I chose to pursue. I have always looked for that purpose whatever endeavor I decide to do or to be part of, and my personal goal is to always make a difference and make a mark in everything that I put my heart into.”

ROBERT PATTINSON stars in Oscar-winning director Bong Joon Ho’s original science fiction film Mickey 17 which topped the North American box office in its

MICHAEL SAGER (left) and Kevin Dasom

Wyeth Nutrition drives sustainability practices in nourishing healthier tomorrows

WYETH Nutrition is implementing a range of environmental sustainability practices – among these using packaging designed for recycling, renewable electricity, and electric transportation– as it plays a major role in providing quality nutrition with its products and customized services locally. Crucial to its mission of nurturing a healthier generation of Filipinos, the company is maximizing initiatives to contribute to a sustainable environment in which children can better thrive and grow up healthy.

These Wyeth initiatives adhere to a comprehensive roadmap to achieve net zero emissions by 2050. The roadmap prioritizes sourcing responsibly, transforming its operations, and shaping a waste-free future. In concrete terms, Wyeth is helping to tackle the country’s most urgent environmental problems.

Wyeth is addressing plastic pollution

in the Philippines which is among the worst in the world. One of its priority initiatives is the use of product packaging designed for recycling, with a single type of plastic or mono-material that does not need to be taken apart to be recycled. All Wyeth packaging, including packs for Bonakid Pre-School, Promil, Promil Gold, and Ascenda,

already consists of mono-material to make recycling more doable. While gaps remain in the soft plastics recycling value chain in the country, such packaging opens possibilities for the reuse of material designed for recycling, and offers a supply of ready feed stock for recycling facilities in the future.

Wyeth products are made in factories that run on 100 percent renewable electricity, in a complete shift from power generated by fossil fuels. Further, the company has partnered with Mober, a frontrunner in green logistics services in the Philippines, to integrate electric vehicles into its mid- and last-mile delivery operations. Electric trucks or e-trucks will now be used to transport products from its factories and distribution centers to reach customers.

“For over 100 years, Wyeth has been nourishing healthier tomorrows for Filipino children. To fulfill this mission in the next 100 years, we must build and

Discover New Horizons with the Ascott Limited Philippines on its 25th Anniversary

THE year 2025 signifies a momentous milestone for the Ascott Limited Philippines as the hospitality group commemorates 25 years of providing innovative and elevated hospitality experiences nationwide. Since the opening of Somerset Millennium Makati in 2000, the collection of serviced residences under the banner of the Ascott Group has grown to a robust portfolio of 17 unique properties across the Philippines. Having been with the country for over two decades, Ascott has seamlessly combined the organization’s premier service standards with the distinct and heartwarming Filipino hospitality. In the spirit of innovation, the Ascott Limited Philippines is delighted to unveil the Horizons Campaign, a year-long endeavor anchored around decades of steadfast dedication towards establishing hospitality concepts in emerging urban areas with consistent, reliable, and quality service. The campaign looks to be mindful of the current global travel directions, such as regenerative travel, which focuses on leaving the destination better than before the visit by embracing the country’s diverse cultures and unique gastronomic and travel experiences.

With new horizons in sight, the organization celebrates its 25th anniversary by pushing the

boundaries of transformative hospitality and embracing new possibilities as industry trendsetters. Throughout the year, guests can look forward to incredible journeys with inspired cultural, culinary, and environmentfocused experiences. These three distinct lenses offer multiple avenues to curate your own adventure with Ascott Philippines in 2025.

Immerse yourself in intrepid and enriching horizons brought about by our cultural and sustainability-focused offers, which highlight the beauty of the nature around us. Take in the vibrant location and get to know the one-of-a-kind communities that thrive in the area. Each experience aligns with the idea of regenerative travel, where an emphasis is placed on propagating awareness and active participation in appreciating and preserving the culture and environment around us.

This March 15th, until the end of 2025, be rewarded when staying with Ascott in the Philippines, and explore new horizons with our 25 Years, 5 Brands and 25 Thousand Exclusive. Set out on an adventure and plot a cross-country tour with Ascott this 2025, as the first 25 guests to complete five unique overnight visits to either one property per brand (Ascott, Oakwood, Citadines, Somerset and lyf) or five stays across five

unique properties with a single brand will enjoy 25,000 Ascott Star Rewards points. Each stay during the promotion will also include complimentary breakfast, a special Horizons Campaign welcome kit as well as complimentary access to the elevated amenities in each visited property.

Our food connoisseurs can expect unforgettable and decadent gastronomic experiences with our selection of home-grown restaurants, from Scott’s, Bay City Café, and Alejo here in Manila to Namit, Fuego, Pureza, Adlao, and Tam-Is in Bacolod; with much more to come as the hospitality group diligently curates new gastronomic experiences with unique in-house restaurant concepts. Be sure to keep your eyes on what each outlet has in store as they open up new culinary horizons for your palette to enjoy.

Be on the lookout for special offers from our participating Ascott restaurants starting March 15 until the end of the year. Get ready for delectable anniversary dishes and indulge in dessert on the house when dining with Ascott for every P2,500 spent during your meals in our 25 Years of Flavor: A Taste of Ascott’s Anniversary Treats promotion.

Beyond 2025, guests can expect a new Ascott in Pasay, Citadines to open in Mandaluyong, Malate, Batangas, Cagayan De Oro, and Cebu, and a new Oakwood to open in Manila. As the hotel group expands its reach within the country, it also plans to open two resorts, with Preference Siargao, the first of its kind to open in the country, a stunning resort built from the ground up alongside Citadines Mactan Cebu, which will be the first Citadines Resort in the country.

The upcoming new openings look to add roughly 6,000 keys to the already robust count of rooms made available by the existing properties, further allowing Ascott to entertain, accommodate, and invite guests to enjoy the elevated hospitality experiences known only to the group. These plans are aptly timed to commemorate Ascott’s 25th anniversary in the country.

The momentous occasion will be celebrated this June, with beloved events such as the Ascott Star Rewards Caravan returning in style in the third quarter of the year, so be sure to keep an eye out on the plethora of activities and announcements from the official social media pages of Ascott Philippines @discoverasrphilippines on Instagram and Discover ASR Philippines on Facebook.

The Comeback You’ve Been Waiting For: The Great Garlic Roast Returns

sustain a more livable planet for the well-being of generations to come,” said Arlene Tan-Bantoto, General Manager of Wyeth Philippines. “By making nutritious products with recyclingready packaging, and manufacturing and distributing them with renewable electricity, we hope that mothers and families will have choices that enable them to contribute to environmental sustainability, as they raise healthier children.”

B Hotel Quezon City: Your Ideal Staycation Destination in Northern Metro Manila

BHotel Quezon City invites travelers to discover the perfect blend of relaxation, comfort, and exceptional hospitality in the vibrant northern part of Metro Manila. This four-star hotel, located in the heart of Quezon City, offers a welcoming and home-like atmosphere, making it the ideal retreat for both business and leisure travelers, the perfect balance of convenience and tranquility.

B Hotel Quezon City is renowned for its industrial-themed ambiance, where guests can enjoy the comfort of its modern and spacious rooms, and various amenities, making it an ideal destination for a relaxing staycation or business trip. The hotel’s warm atmosphere and dedicated service guarantee a delightful experience from check-in to check-out. Whether you choose a standard room or a suite, all rooms are equipped with well-appointed amenities, including high-speed internet, flat-screen TVs, and comfortable bedding for a restful night’s sleep. In line with our commitment to sustainability, B Hotel Quezon City has implemented water refill stations on every floor, eliminating the need for single-use plastic bottles. This eco-friendly initiative reflects our dedication to reducing environmental impact while providing guests with a convenient and responsible way to stay hydrated.

B Hotel Quezon City offers a range of amenities designed to enhance the guest experience, including an equipped fitness center for those committed to maintaining a healthy lifestyle. For guests seeking outdoor relaxation, our inviting swimming pool provides the perfect spot to unwind and refresh after a busy day.

“We are proud to be ranked #1 in Quezon City on TripAdvisor and #3 out of over 1,200 hotels across Luzon. This achievement is a true reflection

of the dedication and hard work of our exceptional B Hotel family,” says Sonny Delos Santos, General Manager. “We are deeply grateful for the positive feedback highlighting our outstanding service, food, and cleanliness. With our modern rooms, top-tier amenities, and unwavering commitment to delivering a memorable guest experience, B Hotel Quezon City continues to be the premier choice for staycations in Northern Metro Manila.”

For business travelers and leisure-like people, this hotel is primarily located just minutes away from popular destinations, including shopping malls, and entertainment hubs. It is also in close proximity to major business districts, making it the ideal choice for business travelers. No need to worry about dining options at B Hotel Quezon City, where a variety of culinary delights await. Savor mouthwatering steaks at Johnny’s Steak & Grill, indulge in a mix of International and Asian flavors like Laksa and the signature B Hotel Smoked Beef Burger at Lobby Cafe, or treat yourself to irresistible desserts at Pastry Corner. Don’t miss the crowd favorites, including the Lotus Biscoff Ensaymada and the award-winning Banana Bread, a perfect way to satisfy your sweet cravings. Whether you’re attending a meeting or enjoying some downtime, the hotel’s central location offers easy access to everything you need, sharing a seamless experience at a price that suits every budget. Slide into your most stylish staycation at B Hotel Quezon City, the perfect setting for relaxation and productivity in the bustling north of Metro Manila all at the most suitable value. For inquiries and reservations, email us at info@thebhotelqc.com or call (02) 8990 5000.

CLUSTER General Manager Rennan John Reyes, Cluster General Manager Cecille Teodoro, Director of Brand and Marketing Loven Ramos, Country General Manager Patrick Vaysse, Director of Sales & Distribution Ms. Denise Olegario

Courageous stand: Judge defies Trump admin, calls out EEOC leadership for betraying agency’s mission

By Claire Savage The Associated Press

NEW YORK—To

billionaire

Elon Musk and his costcutting team at the Department of Government Efficiency, Karen Ortiz may just be one of many faceless bureaucrats. But to some of her colleagues, she is giving a voice to those who feel they can’t speak out.

Ortiz is an administrative judge at the Equal Employment Opportunity Commission—the federal agency in charge of enforcing US workplace anti-discrimination laws that has undergone tumultuous change since President Donald Trump took office. Like millions of other federal employees, Ortiz opened an ominous e-mail on Jan. 28 titled “Fork in the Road” giving them the option to resign from their positions as part of the government’s cost-cutting measures directed by Trump and carried out by DOGE under Musk, an unelected official.

Her alarm grew when her supervisor directed administrative judges in her New York district office to pause all their current LGBTQ+ cases and send them to Washington for further review in order to comply with Trump’s executive order declaring that the government would recognize only two “immutable” sexes— male and female.

Ortiz decried management’s lack of action in response to the directive, which she said was antithetical to the EEOC’s mission, and called upon some

185 colleagues in an e-mail to “resist” complying with “illegal mandates.” But that e-mail was “mysteriously” deleted, she said.

The next day, after yet another frustrating “Fork in the Road” update, Ortiz decided to go big, e-mailing the EEOC’s acting chair Andrea Lucas directly and copying more than 1,000 colleagues with the subject line, “A Spoon is Better than a Fork.” In it, Ortiz questioned Lucas’s fitness to serve as acting chair, “much less hold a license to practice law.”

“I know I take a great personal risk in sending out this message. But, at the end of the day, my actions align with what the EEOC was charged with doing under the law,” Ortiz wrote. “I will not compromise my ethics and my duty to uphold the law. I will not cower to bullying and intimidation.”

Ortiz is just one person, but her e-mail represents a larger pushback against the Trump administration’s sweeping changes to federal agencies amid an environment of confusion, anger and chaos. It is also Ortiz’s way of taking a stand against the leadership

of a civil rights agency that last month moved to dismiss seven of its own cases representing transgender workers, marking a major departure from its prior interpretation of the law.

Right after sending her mass e-mail, Ortiz said she received a few supportive responses from colleagues—and one calling her unprofessional. Within an hour, though, the message disappeared and she lost her ability to send any further e-mails.

But it still made it onto the Internet. The e-mail was recirculated on Bluesky and it received more than 10,000 “upvotes” on Reddit after someone posted it with the comment, “Wow I wish I had that courage.”

“AN AMERICAN HERO,” one Reddit user deemed Ortiz, a sentiment that was seconded by more than 2,000 upvoters. “Who is this freedom fighter bringing on the fire?” wrote another.

The EEOC did not feel the same way. The agency revoked her e-mail privileges for about a week and issued her a written reprimand for “discourteous conduct.”

Contacted by The AP, a spokesperson for the EEOC said: “We will refrain from commenting on internal communications and personnel matters. However, we would note that the agency has a longstanding policy prohibiting unauthorized all-employee e-mails, and all employees were reminded of that policy recently.”

A month later, Ortiz has no regrets.

“It was not really planned out, it was just from the heart,” the 53-year-old told The Associated Press in an interview, adding that partisan politics have nothing to do with her objections and that the public deserves the EEOC’s protection, including transgender

workers. “This is how I feel and I’m not pulling any punches. And I will stand by what I wrote every day of the week, all day on Sunday.”

Ortiz said she never intended for her e-mail to go beyond the EEOC, describing it as a “love letter” to her colleagues. But, she added, “I hope that it lights a fire under people.”

Ortiz said she has received “a ton” of support privately in the month since sending her e-mail, including a thank you letter from a California retiree telling her to “keep the faith.” Open support among her EEOC colleagues beyond Reddit and Bluesky, however, has proven more elusive.

“I think people are just really scared,” she said.

William Resh, a University of Southern California Sol Price School of Public Policy professor who studies how administrative structure and political environments affect civil servants, weighed in on why federal workers may choose to say nothing even

if they feel their mission is being undermined.

“We can talk pie in the sky, mission orientation and all these other things. But at the end of the day, people have a paycheck to bring home, and food to put on a table and a rent to pay,” Resh said.

The more immediate danger, he said, is the threat to one’s livelihood, or inviting a manager’s ire.

“And so then that’s where you get this kind of muted response on behalf of federal employees, that you don’t see a lot of people speaking out within these positions because they don’t want to lose their job,” Resh said. “Who would?”

Richard LeClear, a US Air Force veteran and EEOC staffer who is retiring early at 64 to avoid serving under the Trump administration, said Ortiz’s e-mail was “spot on,” but added that other colleagues who agreed with her may fear speaking out themselves.

“Retaliation is a very real thing,” LeClear said.

Ortiz, who has been a federal

employee for 14 years and at the EEOC for six, said she isn’t naive about the potential fallout. She has hired attorneys, and maintains that her actions are protected whistleblower activity. As of Friday, she still had a job but she is not a lifetime appointee and is aware that her health care, pension and source of income could all be at risk.

Ortiz is nonetheless steadfast: “If they fire me, I’ll find another avenue to do this kind of work, and I’ll be okay. They will have to physically march me out of the office.”

Many of Ortiz’s colleagues have children to support and protect, which puts them in a more difficult position than her to speak out, Ortiz acknowledged. She said her legal education and American citizenship also put her in a position to be able to make change. Her parents, who came to the United States from Puerto Rico in the 1950s with limited English skills, ingrained in her the value of standing up for others. Their firsthand experience with the Civil Rights Movement, and her own experience growing up in mostly white spaces in Garden City on Long Island, primed Ortiz to defend herself and others.

“It’s in my DNA,” she said. “I will use every shred of privilege that I have to lean into this.”

Ortiz received her undergraduate degree at Columbia University, and her law degree at Fordham University. She knew she wanted to become a judge ever since her high school mock trial as a Supreme Court justice.

Civil rights has been a throughline in her career, and Ortiz said she was “super excited” when she landed her job at the EEOC.

“This is how I wanted to finish up my career,” she said. “We’ll see if that happens.”

Drawing huge crowds, Bernie Sanders steps into leadership of the anti-Trump resistance

By Steve Peoples Ap National Political Writer

WARREN, Mich.—Bernie Sanders is standing alone on the back of a pickup truck shouting into a bullhorn.

He’s facing several hundred ecstatic voters huddled outside a suburban Detroit high school—the group that did not fit inside the high school’s gym or two overflow rooms. The crowd screams in delight when he tells them that a combined total of 9,000 people had shown up for the rally.

“What all of this tells me, is not just in Michigan or in Vermont, the people of this country will not allow us to move toward oligarchy. They will not allow Trump to take us into authoritarianism,” Sanders yelled. “We’re prepared to fight. And we’re going to win.”

At 83 years old, Sanders is not running for president again. But the stooped and silver-haired democratic socialist has emerged as a leader of the resistance to Donald Trump’s second presidency. In tearing into Trump’s seizure of power and warning about the consequences of firing tens of thousands of government workers, Sanders is bucking the wishes of those who want Democrats to focus on the price of eggs or “roll over and play dead.”

For now, at least, Sanders stands alone as the only elected progressive willing to mount a national campaign to harness the fear and anger of the sprawling anti-Trump movement.

He drew a crowd of 4,000 in Kenosha, Wisconsin, on Friday night. He faced another 2,600 or so the next morning a few hours away in Altoona, Wisconsin, a town of less than 10,000 residents. And his crowd of 9,000 in suburban Detroit exceeded his own team’s expectations. By design, each stop

was in a swing US House district represented by a Republican.

Sanders, who was just elected to his fourth Senate term from Vermont, conceded that this is not the role he expected to play at this stage of his career.

In fact, his team intentionally waited in the early weeks of the Trump presidency to launch what they are now calling his “stop oligarchy tour” to see if a high-profile Democrat would fill the leadership void. Instead, Sanders—who is not a Democrat himself despite allying with Senate Democrats and running twice for the party’s presidential nomination—has people wondering if he’s considering another White House bid.

“This is like presidential campaign rallies, isn’t it? But I’m not running for president, and this is not a campaign,” Sanders told The Associated Press. “You gotta do what you gotta do. The country’s in trouble and I want to play my role.”

The divided Democratic resistance

SINCE losing the White House, Democrats across Washington have struggled to coalesce behind a consistent message or messenger to stop Trump’s aggressive moves to slash the government workforce, weaken federal oversight and empower tech titan Elon Musk to execute his vision.

There has been no centralized movement to organize the anti-Trump resistance.

“You look around—who else is doing it? No one,” Rep. Alexandria Ocasio-Cortez, D-N.Y., said of Sanders’ efforts. “My hope is that the dam will break in terms of Democrats going on the offense ... We need to take the argument directly to the people.”

Ocasio-Cortez, a longtime Sanders ally, said she would join him on the road in the coming weeks. She’s also planning

solo appearances in Republican-held congressional districts in Pennsylvania and New York—and perhaps others in places where Republicans have declined to hold in-person town halls where they might face protests.

“It’s not about whether Bernie should or shouldn’t be doing this. It’s about that we all should,” she said. “But he is unique in this country, and so long as we are blessed to have that capacity on our side, I think we should be thankful for it.”

Beyond Sanders’ tour, angry voters have so far relied on grassroots groups like Indivisible to organize a series of local protests. They have been effective in pressuring Trump’s allies in some cases. A number of House Republicans facing angry questions have criticized Musk or questioned the cuts being carried out at his allies’ behest.

Indivisible co-founder Ezra Levin, who has been critical of many Democratic leaders, praised Sanders for stepping up.

“I wish more Democrats were traveling the country, including to red states, to rally the majority against Musk and Project 2025,” Levin said. “Sure as hell beats (House Democratic leader Hakeem) Jeffries traveling the country for his children’s book tour during a constitutional crisis.”

During last month’s congressional recess, Jeffries made two appearances to promote a children’s book about democracy. He has also traveled to support House Democrats. This past weekend, he was in Selma, Alabama, to mark the 60th anniversary of Bloody Sunday.

The truth is that few, if any, Democratic leaders have the capacity to draw such crowds on short notice or organize the related logistics on a national scale. The party’s nascent class of 2028 presidential prospects, a group that includes California

Gov. Gavin Newsom, Michigan Gov. Gretchen Whitmer, and Pennsylvania Gov. Josh Shapiro, have limited national profiles and they have been reluctant to step too far into the national spotlight so far.

Connecticut Sen. Chris Murphy, among the more outspoken Trump critics in Congress, said that Democrats must be better organized.

“People are desperate to be plugged into action right now. People see the threat. They are anxious and angry and motivated and they want to be sent in a direction to help,” he said.

Murphy acknowledged that Sanders still has plenty of detractors within the Democratic Party who view him and his progressive policy ideas—replacing private and job-based health insurance with a government-funded “Medicare for All” plan, free public college, and the “Green New Deal” on climate policy—as too radical.

Indeed, it was just five years ago when Democrats coalesced around Joe Biden to effectively block Sanders from winning the party’s 2020 presidential nomination.

“There still are a lot of folks who view Bernie as a danger to the party,” Murphy said, “whereas I see his message as the core of what we need to build on.”

Sanders was a staunch supporter of Biden over the last four years but criticized the Democratic Party in the aftermath of Kamala Harris’ loss last fall, declaring that Trump’s victory was possible only because Democrats had “abandoned” the working class.

United Auto Workers President Shawn Fain, who introduced Sanders in Michigan, said more Democrats need to “follow his lead to focus on working-class people and working-class issues.”

“They’ve got to take a hard look in the mirror, in my opinion, and decide who the

hell they want to represent,” Fain said of Democrats. “We’ve been clear as a union, if they aren’t looking out for working-class people, we’re not going to be there for them.”

The voters speak THE voters who packed venues across Wisconsin and Michigan over the weekend composed a diverse group, including some who did not support Sanders’ past presidential campaigns. Most said that Democratic leaders have not done enough to stop Trump.

“I’m here because I’m afraid for our country. The last six weeks have been horrible,” said Diana Schack, a 72-yearold retired lawyer who attended her first Sanders rally on Saturday. “I am becoming a more avid Bernie fan, especially in light of the work he’s doing traveling around the country. These are not normal times.”

In Kenosha the night before, Amber Schulz, a 50-year-old medical worker, demanded that her party “step up and do something.”

“Bernie is the only politician I trust,” she said.

Tony Gonzales, 56, an independent from Pleasant Prairie, Wisconsin, said he’s worried that Trump will “dismantle historic American standards” and try to stay in office beyond this term. The Constitution bars presidents from serving more than two terms, even as Trump has suggested he deserves a third.

“It’s a dangerous time right now,” Gonzales said. “What Bernie has to say— and the turnout—is important. His voice is still being heard.”

Sanders delivered the same fiery populist message over the weekend that he has for decades, seizing on the nation’s economic inequality to call for free health care, free public higher education and

stronger social safety net programs. Sanders was especially focused on the team of billionaires Trump has appointed to serve as leaders in his administration, including Musk and a half dozen others.

“They want to dismantle the federal government and cut programs that working people desperately need,” Sanders warned.

“Yes, the oligarchs are enormously powerful. They have endless amounts of money. They control our economy. They own much of the media, and they have enormous influence over our political system,” he continued.

“But from the bottom of my heart, I believe that if we stand together, we can beat them.”

It’s unclear how long that Sanders, an octogenarian who was hospitalized for a heart condition during his 2020 campaign, will continue in this role. A spokesperson said Sanders hasn’t had any health issues since the 2019 episode.

He is not expected to slow down anytime soon. Sanders is leaning on his 2020 presidential campaign manager, Faiz Shakir, to organize his stops, backed by a handful of former presidential campaign staffers working on a contract basis. Shakir, who lost his bid to become the new chair of the Democratic National Committee, acknowledged strategic differences within the party about how best to combat Trump.

Last month, veteran political strategist James Carville penned an opinion piece calling for Democrats to “roll over and play dead,” betting that Trump and his party would ultimately suffer a political backlash from voters for going too far.

“One theory is you can play dead; you can strategically retreat,” Shakir said. “Or, you play alive, and you go out to people and you talk to them with conviction and integrity.”

KAREN ORTIZ , an administrative judge at the Equal Employment Opportunity Commission, poses for photos, Wednesday, February 26, 2025, in New York. AP/JULIA DEMAREE NIKHINSON

Sports BusinessMirror

B8 Tuesday, March 11, 2025

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Malonzo dismisses underdog narratives in PBA title series

By Josef Ramos

AS the protagonists traded compliments as usual ahead of the title showdown, Jamie Malonzo is being careful not to get carried away.

The Ginebra forward is eager to deliver as the Gin Kings look to get back at the TNT Tropang Giga when they clash for the crown in the Philippine Basketball Association Commissioner’s Cup.

“They say they are the underdog team, but they are not because of their level of experience is not, and all their players can play great at any given situation,” Malonzo told the BusinessMirror.

Game One of the Best of Seven championship is set at 7:30 p.m. Friday at the MOA Aena and Malonzo is raring to go after missing the Governors’ Cup championships series due to a calf injury.

Eyes will certainly be on the high-leaping forward after averaging 17.6 points, 5.2 rebounds and 2.2 assists in the semifinals against NorthPort that Ginebra finished in five games and TNT coach Chot Reyes mentioned the 28-year-old among the players that the Tropang Giga need to focus on.

Reyes noted TNT is missing Jayson Castro due to a patella injury, while Ginebra has other new pieces such as Troy Rosario.

“I don’t think anyone can fill in for Jayson

UST rips La Salle to close in on first-round sweep

NIVERSITY OF SANTO TOMAS (UST)

Uclosed in on a first-round sweep after a 5-0 victory over La Salle on Sunday in the University Athletic Association of the Philippines Season 87 tennis tournament at the Rizal Memorial Sports Complex in Manila.

Nilo Ledama downed Ohye Tortal, 7-5, 6-3, in the first singles match as UST notched its fifth victory in the seven-team tournament.

Ericjay Tangub scored a 6-1, 6-1 victory over JT Bernardo, while Sebastian Santos defeated Yassan Al-Anazi, 6-2, 6-3. In doubles action, Richard Bautista and Nash Agustines overwhelmed La Salle’s Leyton Portin and Darwin Cosca, 6-2, 6-2. Steven Sonsona and Symon Jaculan completed the sweep with a 6-3, 6(4)-7(7), 10-8 victory over EJ Geluz and Enzo Enriquez.

L a Salle remained winless at 0-6.

In the women’s division, UST defeated University of the Philippines, 4-1 triumph. UST took solo second place in the standings behind National University (3-0).

LBJ vs SAS

[Castro]. We are asking for the other players to give a little bit more and contribute,” Reyes said.

Troy [Rosario] brings a lot more than his skills, he’s a great teammate, there’s so many intangibles. He wasn’t there in the last finals. Then, there’s Jamie [Malonzo].

That’s another factor that we must contend with. It’s a tall order for us.”

since 1994 Commissioner’s Cup.

TN T leads 3-2 against Ginebra after winning the crown last conference.

The Tropang Giga lost Castro to injury in Game 2 of the semifinals against Rain or Shine but went on to win the series in five.

during the finals news conference on Monday at the Kamay Kainan in Quezon City.

“It’s going to be a tough finals series again.”

THE Philippine Olympic Committee (POC) through Nasyonal Mixed Martial Arts Pederasyon ng Pilipinas (NMMAPP) will be forming the country’s team for the next year’s Asian Games in Aichi-Nagoya Japan.

“Even me, I was surprised about MMA’s inclusion in the 2026 Asian Games as a medal sport,” POC President Abraham “Bambol” Tolentino told reporters over the weekend, noting that a tryout will be held immediately this year.

Only the best must represent us there.” Tolentino, the president of NMMAPP with POC board member Alvin Aguilar acting as secretary-general, expressed excitement about the latest development approved by the Olympic Council of Asia (OCA) saying that there’s a possibility the sport will become the country’s gold mine in Asiad.   He is convinced MMA fighters will boost the nation’s medal sources aside from jiu-jitsu, gymnastics, boxing, men’s basketball, weightlifting, wushu, tennis and athletics. A total of six weight divisions were officially announced by OCA as part of its calendar next year in Aichi-Nagoya, Japan — the 60kg, 71kg, 65kg and 77kg for men and 54kg and 60kg for women. Host Japan, Thailand, Vietnam, South Korea, Mongolia, Uzbekistan, Iran and China will be

Cone relishes another showdown with a tough rival and he embraces the challenge of trying to limit an import like Rondae HollisJefferson, who led the Tropang Giga to victory in six games last conference.

“It’s always great to be in the finals, and we have to continue doing what’s right,” Cone said

Hollis-Jefferson averaged 28.1 points, 12.4 rebounds, 5.0 assists, 1.8 steals and 1.8 blocks in 18, while Brownlee normed 23.3 points, 8.9 rebounds and 4.8 assists in 20 outings.

“RHJ brought a tremendous mentality to the TNT team. He shows up every game, every quarter, every possession,” Cone added. “We are lucky this time to be able to witness Justin [Brownlee] and RHJ go at each other. These are momentous times.”

Monsalve three clear at Eagle Ridge

opener at Pradera, Monsalve birdied No. 14, bogeyed the next, and reeled off a string of pars before picking up strokes on Nos. 5 and 8. Though he dropped a shot on the ninth, his 35-36 proved enough to take the early lead.

“I came in here with a different kind of mentality,” said Monsalve, whose best finish in a three-year professional career was joint 15th at Caliraya Springs in 2023. “At Pradera, it was more of a stress knowing how hard the course was. But here, I knew the layout would be difficult and the wind would be a big factor, so I told myself not to expect much and just try to have fun. Anything can happen in this kind of setup.”

“It’s really the wind and the tricky putting surface. But the key was my short game—I didn’t hit a lot of greens but managed to get up-and-down most of the time. I also got lucky with some of my reads despite the unpredictable conditions,” he added.

The demanding Faldo course and shifting winds proved unrelenting for the rest of the field.

Sean Ramos birdied No. 15 to salvage a 74, matching Hyun Ho Rho’s output for joint second in the tournament backed by International

PLAYERS now battle for World Amateur Golf Ranking (WAGR) points aside from the titles in the Junior Philippine Golf Tour (JPGT).

The rankings system will apply to all tournaments in the 15-leg circuit starting with the ICTSI Eagle Ridge JPGT Championship set April 8 to 11 at the Eagle Ridge Golf and Country Club in Gen. Trias, Cavite followed by ICTSI Sherwood Hills JPGT Championship slated April 22 to 24 in Trece Martires, Cavite.

STEPHEN A. SMITH was confronted by Lebron James at the Knicks-Lakers about comments he made about his son Bronny.  Media is the watchdog of every society. As journalists, it is our responsibility to bring issues and matters to the forefront backed up by information. Information like facts, statistics, and numbers. In the media there are also fact checkers to combat lies and misinformation.

Has any of Stephen A. Smith’s comments about Bronny James been below the belt? What have Stephen A. Smith’s comments and criticism been mostly about? His performance as a Los Angeles Laker? Currently, Bronny James is averaging 1.4 points, 0.4 assists and 0.4 rebounds per game. He was the 55th pick in the second round of the 2024 NBA draft. Has any of Smith’s comments against Bronny been derogatory? One of the many jobs of sports journalists is to criticize professional athletes when they aren’t performing at the level they are expected to. Should Bronny be treated with kid gloves because of his last name? Should he be treated any differently because of who his father is?

In February 2024, the elder James made comments about his son being better than half of the players in the league. That’s putting crosshairs and a bullseye on your son’s back. That’s a lot of pressure to put on a 20 year old.

T he JPGT Finals is set at The Country Club in October.

“The inclusion of WAGR points in JPGT tournaments highlights the circuit’s growing importance,” Colo Ventosa, general manager of Pilipinas Golf Tournaments Inc. (PGTI), said. PGT I organizes the Junior PGT alongside the country’s professional golf tours.

This recognition affirms that the Junior PGT is not just a local development tour but a credible pathway for Filipino junior golfers

T he following were comments and statements made by Lebron James about his son either before the draft or before playing in the NBA:

“In his tweet, LeBron asserted that Bronny is already better than some players currently in the NBA.”—www.bleacherreport. com March 8, 2023

“Man Bronny is definitely better than some of these cats I’ve been watching on league pass today,” James tweeted. “S*** lightweight hilarious.” He followed that last sentence with four laughing emojis.”—www.cbssports.com March 7, 2023

Let’s look at the comments from team executives on evaluation of Bronny James from an www.espn.com online article dated October 8, 2024, “Set up for failure”:

“The expectations for Bronny by the fan base and by LeBron and Rich Paul are not commensurate with the reality of his game,” one Eastern Conference executive said. “If they had any real idea of how far away Bronny is, they just would not have done this.”

You’re set up for failure,” one Eastern Conference scout who has evaluated Bronny for years said. “It’s like, what’s the expectation here?”

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O rder of Merit winner Tony Lascuña was even through 15 holes but stumbled with a double bogey-bogey finish for a 75 and a share of fourth with Lloyd Go, Taewon Ha, Ryan Monsalve, Jeffren Lumbo and recent PGT Q-School topnother and Pradera leg third placer Jaehyun Jung. Clyde Mondilla, a multi-titled champion accustomed to grinding out victories in challenging conditions, looked poised for a solid round after shaking off an opening-hole bogey with back-to-back birdies from No. 2. But as the winds picked up and the Faldo course bared its teeth, his game began to unravel.

Mondilla stumbled with bogeys on Nos. 9 and 11, then yielded a costly double-bogey on the 16th before dropping another stroke on the next hole. By the time he reached the clubhouse, his scorecard read a disappointing four-over-par 76, placing him alongside Russell Bautista, Albin Engino, Josh Jorge, Kakeru Ozeki, and Kento Watanabe—all of whom endured tough finishes on a day when the course showed no mercy.

to gain international exposure.”

Launched in 2023 as a drive-chip-putt competition, the JPGT was established by ICTSI chairman and CEO Ricky Razon to provide young golfers, particularly those with limited access to elite-level tournaments, with a structured and competitive environment. Beyond competition, the tour instills values such as dedication, resilience, and camaraderie—qualities essential in shaping well-rounded athletes.

GRETCHEN VILLACENCIO defied brutal playing conditions to seize a three-stroke lead with a 75 at the start of the Eagle Ridge Championship on Monday at the wind-swept Faldo course in Gen. Trias, Cavite. Still in search for a breakthrough victory in a seven-year pro career, Villacencio showed remarkable composure to emerge atop the leaderboard. Her three-over-par round, marked by three birdies against six bogeys, kept her steady as most of the field crumbled under the unrelenting conditions. Villacencio did face headwinds on her inward nine, dropping four shots in the first seven holes. However, she came through with a clutch birdie from 21 feet on the 18th to salvage nines of 36-39—setting pace in the P750,000 championship put up by the International Container Terminal Services Inc.

“It’s really unexpected,” said Villacencio, who found herself leading despite not setting high expectations for the round. “I really didn’t expect to lead today, but I was just really lucky. God was with me all throughout.”

She particularly pointed to two pivotal holes—a chip-in birdie on No. 4 and a stunning birdie conversion from long range on the 18th—that allowed her to stay ahead of the field.

“My only goal was to make the cut because the conditions were so tough. The wind was extremely strong, and we couldn’t gauge how much club adjustment was needed. Sometimes the wind would suddenly die down, and the next moment it would blow so hard,” rued Villacencio, who tied for 15th at Pradera Verde two weeks ago.

Multi-titled Sarah Ababa and rising star Kayla Nocum carded identical 78s.

Seoyun Kim, who finished joint runner-up to Samantha Bruce at Pradera, shot a birdie-less 79 but still shared fourth place with Mikha Fortuna, who briefly sparked hopes with back-to-back birdies from No. 4 only to get derailed by four consecutive bogeys from No. 6. Chanelle Avaricio, still in search of the form that earned her multiple LPGT victories in 2022, stumbled to an 80 without a single birdie and settled for a share of sixth with Florence Bisera, Chihiro Ikeda, Tiffany Lee and Mafy Singson.

“ TWO WEEKS LATER, on May 29, Paul told ESPN that Bronny would be keeping his name in the NBA draft.

It was a decision several front office executives and scouts privately and quickly denounced as a mistake, saying Bronny needed more time to develop, that he wasn’t ready for the professional game. The whispers quickly crescendoed into conventional wisdom.

“He should have stayed in school,” one Western Conference executive said. “No doubt about it.”

“In a normal world, he would’ve been a really good four-year college player,” one Eastern Conference scout said.”

“For this whole thing to have even made it this far is surreal,” another Western Conference executive said. “Analytically, if you just had the numbers on a page and had no name attached to it, he doesn’t project in any way, shape or form to be an NBA player. His measurables don’t project as an NBA player. There’s literally nothing about him on paper—if no name is attached to it—that makes this make sense.”

Other executives and scouts said they didn’t think Bronny was good enough to be drafted, even late in the second round, but understood the allure.”

All of the aforementioned in just one article.

Let the young man’s game do the talking. Let him grow and develop quietly.

In a blog from barstoolsports.com posted March 8, 2025, part of what Jodie wrote said,

“I gotta be honest here...I have no idea how to feel about this one. The initial reaction is naturally to clown on LeBron here. I think everyone in the world besides LeBron understands that

Bronny James simply is not an NBA player. He shouldn’t be in the position for Stephen A. Smith to even talk about in the first place, considering he shouldn’t be in the league. But LeBron was able to use a good ol’ dose of nepotism to not only get Bronny drafted to the Lakers, but to get him some playing

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rather than let him quietly do his thing? I f Lebron is going to confront a sports journalist who criticizes his son then he should confront every sports journalist that criticizes his kid. Was SAS singled out because he’s the most outspoken?  In the midst of a barrage and bombardment of criticism from the media, you need to have thick skin and just keep going. How many times have we heard from coaches and teachers of different sports and games about shutting out the outside noise?

ERICJAY TANGUB proves too strong for JT Bernardo.