Philippines is undertaking a new national risk assessment to stay out of the Financial Action Task Force’s (FATF) grey list as money laundering proliferates in digital technology.
In a forum on Tuesday, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said just because the Philippines has exited the grey list, it does not mean it’s over.
“We have to make sure we do not get back into the grey list. In the past, we go in, we go out. This time, we are determined to stay out of the grey list,” Remolona said. The Philippines recently exited the grey list on February 22, after nearly four years, but was urged to sustain improvements in its antimoney laundering and counter-terrorism financing measures. (See: https://businessmirror.com. ph/2025/02/22/phl-exits-fatfsdirty-money-grey-list/).
Remolona said the central bank is monitoring potential threats in the economy and reassessing risks that could lead to money laundering and terrorism financing.
By Andrea E. San Juan and Reine Juvierre S. Alberto
PHILIPPINE business leaders are staying in their lane as they lure more investments and strengthen trade ties with other economies while it is still “too early” to gauge the impact of the arrest of former President Rodrigo Duterte on the country’s business climate and image.
“To be honest, what happened was unexpected. So because it’s unexpected, it’s still too early to tell. Well, life goes on,” George Barcelon, Philippine Chamber of Commerce and Industry (PCCI) Chairman, told reporters on the sidelines of the PCCI-Slovenia Business Forum on Wednesday in Taguig City.
“In our case, we’re on the business side. As you can see, we’re very active trying to attract missions from other countries para both ways they
invest in us and we export our Filipino products,” Barcelon added. See related story in B2, “‘Investors unfazed by arrest of ex-president.”
While the arrest warrant for Duterte may cause short-term market disruptions, an economist said this reinforces the Philippines’ legal integrity and potentially attract more investments in the long run.
During the Management Association of the Philippines’ (MAP) general meeting on Wednesday, New York-based think tank GlobalSource Partners Country Analyst Diwa Guinigundo said Duterte’s arrest could actually boost the local economy.
“[The arrest] will encourage people to invest here because such kind of extrajudicial killing is [not] something that we tolerate. There is a rule of law. And when there is rule of law, there is stability of investment and production,” Guinigundo said.
However, in the short-run, Duterte’s arrest may cause volatility in the financial markets as investors react to political uncertainties, Guinigundo noted.
If Duterte’s arrest will attract a big crowd, such as a people power movement, Guinigundo said financial markets will be upset and disturbed.
On Tuesday morning, Duterte was arrested for his crimes against humanity case before the International Criminal Court (ICC) over his bloody war against illegal drugs. (See: https:// businessmirror.com.ph/2025/03/11/ duterte-seeks-sc-relief-as-interpol-servesicc-warrant/).
In the afternoon, the Philippine Stock Exchange Index (PSEi) dropped sharply by 2.42 percent and closed at 6,206.55 on Tuesday while government bond yields also fell.
“Over time, [investors] will realize that
something can be done here in the Philippines. We don’t tolerate these kinds of offenses,” Guinigundo said.
“The issue of good governance will surface, and people will start realizing that this is something good because if indeed a crime was committed, it has to be prosecuted,” he added.
The former Bangko Sentral ng Pilipinas (BSP) deputy governor said the country’s macroeconomic fundamentals will continue to hold while correct public policies will continue to be formulated and implemented by the authorities. However, while the Philippines’ growth performance surpassed the global average in 2022 and 2023 of 3.5 percent and 3.3 percent, respectively, the country still has a lot of catching up to do, Guinigundo said.
By Samuel P. Medenilla @sam_medenilla
M
ALACAÑANG has vowed to address the gaps which caused the significant drop in foreign direct investments (FDI) last year. In a press briefing on Wednesday, Palace Press Officer Claire Castro said they are now verifying the cause of the decline stated by the Bangko Sentral ng Pilipinas (BSP).
“For now, we are now determining the cause [of the decline] of the foreign investments. Because sometimes there are records, which show
“We have to look at digital technology and what it’s doing. These guys are very innovative,” Remolona said.
“It’s essentially an arms race between us and them so we have to keep up with the arms race. That’s why we’re doing a risk assessment,” the governor added.
The next FATF evaluation of the Philippines is set for 2027, and Remolona said the Philippines is preparing to ensure it will meet all the requirements to pass the assessment.
In an email response to BusinessMirror, the BSP said it remains committed to sustaining risk-based anti-money laundering, counter-terrorism financing and counter-proliferation financing supervisory strategies
The next big threat, according to the central banker, is the rise of digital technology as the evolving digital space is the “preferred means” for money launderers to take money in.
that investments in the Philippines are rising,” Castro said in Filipino.
In its preliminary data, BSP reported that the amount of FDI in December plunged to US$110 million from US$743 million in the same period last year. Economists attributed the decline to policy uncertainty and global economic risks.
Full-year FDI inflows for 2024 only reached US$8.93 billion, which is below its projected US$9-billion target for the year. Meanwhile, the Department of Trade and Industry (DTI) reported last December to its Philippine Board of Investments that its approved invest-
ments from January to November 2024 reached P1.62 trillion, which is higher compared to P1.1 trillion year-on-year.
“We will find out if there are any shortcomings, and business experts and our heads of agencies will immediately take steps to address whatever impact this may have,” Castro said.
According to Philippine Institute for Development Studies
Senior Research Fellow John Paolo Rivera, “Policy uncertainty and global economic risks may have dampened investor sentiment, leading firms to delay or scale down expansion plans in the Philippines.”
Although Donald Trump’s
influence on the drip in 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 short-term financial pressures on local firms and potential shifts in investor sentiment toward the Philippine economy.
The BSP had said the FDI declined due to increased debt repayments by resident corporations to their nonresident direct investor.
The higher debt repayments
INTERNATIONAL credit watcher Moody’s Ratings maintained a “stable” (Baa2) outlook for the Philippine banking system on the back of strong economic growth.
“Strong economic growth underpinned by further rate cuts and stabilized inflation in 2025 will drive credit demand and support loan quality,” the rating agency said. According to Moody’s Ratings, the Philippine economy is “one of the fastest-growing economies” in Asia and is projected to grow by 6 percent in 2025 and 2026.
Despite global uncertainties posing upside risks to inflation, Moody’s Ratings expect it to remain between 2 percent and 4 percent— similar to the government’s target range—and will improve domestic consumption and investments.
Moody’s Rating said the easing inflation will
rates this year to drive
and credit demand as well as support loan quality. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the central bank is still on the easing cycle as a 25-basis point rate cut (bps) at a time could be delivered
DRUG WAR TO COURTROOM WAR Supporters of former President Rodrigo Duterte light candles and wave Philippine flags during a protest at Villamor Air Base in Pasay City on March 11, 2025, hours after Duterte was detained and flown to The Hague. His arrest follows an International Criminal Court (ICC) investigation into alleged crimes against humanity during his administration’s war on drugs. Duterte is expected to challenge the ICC’s jurisdiction as he faces possible trial in the Netherlands. ROY DOMINGO
Govt to reckon with causes of…
resulted in net foreign investments in debt instruments shifting to 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.
Marcos meets more investors
MEANWHILE , Castro said Marcos continues to meet with potential investors in the hopes of bringing in more job-generating businesses in the country.
“As far as I know, the President continues with his meetings for foreign investments and the investments here in the Philippines,” she said.
The President also backs laws which aim to raise FDIs in the country such as the Republic Act (RA) No.12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (Create More) Act.
VP Sara gets Palace clearance for Europe trip to visit father
By Samuel Medenilla @sam_medenilla
MALACAÑANG on Wednes-
day announced Vice Presi-
dent Sara Duterte is now on a 7-week trip to Europe so she can visit her father, former President Rodrigo R. Duterte, who is set to be detained in the Netherlands for a pending case of crimes against humanity.
In a Viber message to Palace reporters, Palace Press Officer Claire Castro said the Vice Presi -
Continued from A12
Kuala Lumpur, Bangkok, and Manila, “so we will have a slight advantage over Dubai and Doha.”
Fernandes further explained, “So my vision is that even Japanese, Koreans and Chinese would fly down to Manila and use us to [fly to] the West Coast and East Coast of America and other parts, and eventually Latin America.”
Eyes Cebu as domestic hub AS far as domestic flights are con-
dent was given travel authority to travel to Europe from 11 March 2025 to 30 April 2025.
“Contrary to the earlier statement, the Office of the President issued a travel authority for VP Sara as of last night at 8 pm to travel to the Netherlands,” Castro said.
Aside from The Netherlands, Duterte is also set to visit other European countries.
In an earlier press briefing, Castro said the Vice President may have left the country without ob -
cerned, the AirAsia executive said he is looking forward to developing other hubs such as Cebu “and other secondary airports. So we are very committed to the Philippines. We’re gonna plug on. We’re gonna have a mixture of domestic and but mostly international [routes].”
In a news statement, the AirAsia Aviation Group said it carried 63 million passengers last year, up 11 percent from the 57 million carried in 2023. Last year’s passenger load factor was recorded at 89 percent, a full percentage-point increase from 2023. The Group registered a 14-percent increase in revenue passenger kilome -
taining any clearance.
“PCO was not immediately updated as the information was initially disclosed only to limited people due to the unusual urgency and the confidentiality of the document,” Castro said.
The Vice President will be visiting her father, who was arrested Tuesday by the Philippine National Police and the International Criminal Police Organization (Interpol) through an arrest warrant issued by International Criminal
ters last year.
The Group’s parent unit, Capital A, which Fernandes also heads, is preparing to exit Practice Note 17 (PN17) status, after regulatory authorities in Malaysia recently approved its regularization plan.
PN17 is issued by the Malaysian bourse to help guide financially distressed listed companies to
Court (ICC).
When former president Duterte was flown out from Manila to The Netherlands via Dubai, after a 12-hour detention at Villamor Airbase, only his former executive secretary, Salvador Medialdea, was allowed to go with him, along with his nurse and personal aide.
Under Executive Order No. 459 (s. 2005), government officials and personnel must obtain travel clearance from the Office of the President.
maintain their listed status.
In the Philippines, the carrier launched this month promo fares for Filipinos to take advantage as they prepare to go on their summer holidays. It is offering one-way base fares as low as P214 on all seats and flights, the carrier said in an earlier news statement. Over 4.5 million seats are available for the promotion.
Cristina A. Roque said the Department of Trade and Industry (DTI) is focused on attracting more investments to beef up local industries.
“We continue to suffer from widespread poverty and income inequality that we need to address,” he added. The Philippine economy would have to grow between 9 and 9.5 percent through 2028 in order to return to the prepandemic growth trajectory projection.
The outlook for the Philippines’ growth inches towards P80 trillion in gross domestic product in 2036.
Should the economy grow between 6 and 8 percent annually, following the government’s growth targets, then the GDP will only reach P60 trillion in 2036.
There is still a deficit of P20 trillion, which is about three times the country’s annual budget of more than P6 trillion.
“Yes, we’re definitely growing, but we need to do more to go back to the old original growth path,” Guinigundo said.
Barcelon optimistic
MAINTAINING his optimism, Barcelon shifted his lens to the recently enacted CREATE More law on menu of incentives, saying this measure “gives us a broader leeway in attracting foreign investments.”
However, the business leader expressed hope that should there be an impact on the business climate, it would be minimal.
“Business will continue. Life will go on. We just hope that there will be less disruption. And we hope that [even with] what had transpired, in the mind of the business sector, we’re still open about being optimistic,” added Barcelon.
For her part, Trade and Industry Secretary
“The focus of the Department of Trade and Industry is really to actually attract foreign trade and investments and to really grow the industries and the economy. So that’s where we were focused on at this time. We just came from a trip so we’re just consolidating everything and really just coordinating with everyone to make sure that we can really roll everything out smoothly,” Roque told reporters on the sidelines of the PCCI-Slovenia Business Forum.
On March 11, former President Rodrigo Duterte was arrested on a warrant from the International Criminal Court accusing him of crimes against humanity.
About 12 hours after his arrest Tuesday, video showed the former president being taken away in a Lear jet, presumably to The Hague. (See: https://businessmirror.com.
Barcelon, meanwhile, said there are trade missions lined up for the Philippines.
“We have, of course, Mexico, then we’re having one of the meeting with the Nigerian ambassador and then, of course, the Koreans, the Japanese, they’ve always been very interested in investment opportunities,” added the PCCI chairman.
Roque and Barcelon were present at the signing of a Memorandum of Understanding (MOU) between PCCI and the Chamber of Commerce and Industry of Slovenia (CCIS).
The Philippine and Slovenian business groups have agreed to strengthen business and economic cooperation particularly in the areas of mobility, manufacturing, food and beverage (F&B) and science, technology, and education, among others.
by 200 bps, which will take effect on March 28.
“We expect the government to prioritize systemic stability and provide support for rated banks in times of need. The government is unlikely to adopt a bail-in regime in the next 12 to 18 months,” Moody’s Ratings added. Reine Juvierre S. Alberto
country and cooperate with the enforcement of the warrants of arrest arising from the said investigation.
Medical attention
THEY also claimed Duterte needed medical attention which the respondents allegedly declined despite a request for it.
“No doctors were allowed access to him. He was also denied access to his other lawyers which caused delay in filing of petition for certiorari and prohibition,” the petitioners said.
“The warrant of arrest against Duterte was issued by an entity without jurisdiction within Philippine authority. The ICC no longer possesses jurisdiction over the Philippines, considering the latter’s withdrawal from the Rome Statute, effective as of 17 March 2019,” the petitioners argued.
They added that despite the country’s withdrawal from the Rome Statue, crimes against humanity and other international crimes may still be prosecuted under Republic Act No. 9851, also known as the Philippine Act on Crimes Against International Humanitarian Law, Genocide, and Other Crimes Against Humanity.
The said law gives Philippine trial courts’
jurisdiction for crimes against humanity.
“As such, the Philippine government has absolutely no legal obligation to implement or enforce any warrant of arrest issued by the ICC, especially when it undermines Philippine sovereignty,” the petitioners said.
House allows Paolo to travel
HOUSE Secretary General Reginald Velasco on Wednesday confirmed that he gave a travel clearance to Davao City Rep. Paolo Duterte for a personal trip to the Netherlands and Japan from March 12 to April 15, 2025.
Duterte submitted his request for travel clearance to Speaker Martin Romualdez on March 11 through electronic mail. In his letter, he sought the issuance of a revised travel clearance for his personal trip covering the said dates and destinations. The request was officially approved Wednesday, March 12, at 1:00 p.m.
Duterte said all expenses for the trip will be covered by his personal funds.
The approval of travel clearances for lawmakers is a standard procedure required for official or personal trips abroad to ensure proper documentation and adherence to House regulations.
the settlement of the remaining 70 percent AS cost from the Reserve Market for the March 2024 Billing Period whose recovery was deferred by the ERC.
AS charges pertains to the cost for AS sourced from the Reserve Market and those for AS providers with bilateral contracts with NGCP.
“For the March 2025 billing of the end-consumers, NGCP charges only 52 centavos per kWh for the delivery of its services. The bulk of transmission charges is for AS, which is remitted directly to AS providers,” it said. NGCP does not earn from AS and did not benefit from the increase in prices. The AS cost is a pass-through cost, and generating companies benefited from this increase. AS are support services used to balance and stabilize the grid during power supply-demand imbalance.
to further promote the integrity and resilience of the Philippine financial system.
“We shall also continue our strong engagement and collaborative activities with industry associations and BSP-supervised financial institutions in strengthening their respective AML/CTPF frameworks,” it added.
“In the meantime, we can reap the benefits of our delisting from the FATF’s grey list,” Remolona said. Among the advantages are renewed investor confidence, improved correspondent banking relationships and an easier process for foreign banks to engage with local institutions.
Overseas Filipino workers and businesses reliant on international financial transactions are also expected to benefit from the country’s improved standing in the global financial system.
Escudero: ‘Due process’ from ICC; Lacson to govt: Extend ‘support’
By Butch Fernandez @butchfBM
SENATE President Francis Escudero said Wednesday he expects “due process” for former President Rodrigo Duterte in his legal battle in the International Criminal Court, while former senator Panfilo Lacson said the government should still extend “support” to Duterte, as it does with all other Filipinos needing legal assistance abroad.
They made the call a day after two senators called for calm amid sporadic protests from the followers of the former President who was arrested on Wednesday morning and detained at Villamor Airbase by a combined team of law enforcers assisting an Interpol team serving the ICC warrants.
Escudero praised the “orderly service of the Interpol warrant” that allowed the ICC to take Duterte into custody.
However, he stressed that the ICC must respect the former President’s rights and ensure due process.
In a related development, Lacson reminded the government that like any other Filipino facing a legal battle overseas, Duterte is entitled to “support” from Manila.
“More than being a former President of our country, former President Rodrigo R. Duterte is a Filipino who will face trial before an international court.
“Our government must not lose sight of its obligation, as a matter of policy, to extend support to all Filipinos, as we consistently do, even to those already convicted and facing executions beyond our jurisdiction,” said Lacson, who is running for a seat in the Senate anew.
In a statement Wednesday, Escudero for his part said, “The peaceful and orderly service of the Interpol warrant—carried out without incident—reflects our nation’s commitment to upholding international agreements, as well as the maturity, civility, calm, and professionalism of all those involved: our law enforcement authorities, former President Rodrigo R. Duterte, his lawyers, and his supporters.”
As this legal process unfolds, Escudero said, “we expect the ICC to respect the rights of former President Duterte and to ensure that he is afforded due process in accordance with the Rule of Law.”
This development, he added, will undoubtedly elicit diverse reactions shaped by differing perspectives on the allegations against the former president, from the families of victims of extrajudicial killings to his loyal supporters.
Escudero also called for restraint, saying, “Debate and disagreement are natural in a democracy, but as we move forward, I urge our kababayan to approach this moment with the restraint and respect displayed yesterday by the protagonists from both sides. I also call on those running in the midterm elections to refrain from using this issue to fan the flames of partisanship in order to further their candidacies as this is a serious issue that involves lives and should not be trifled with for petty personal or political gain.”
He added: “It is in our nation’s best interests to demonstrate our strength not by division, but by our capacity to rise above our differences and to collectively and peacefully uphold justice and accountability.”
‘Evidence at ICC may also be used vs Sara’
THE evidence set to be presented at the International Criminal Court (ICC) regarding extra-judicial killings (EJKs) under former President Rodrigo Duterte may be considered in the impeachment trial of Vice President Sara Duterte, a member of the House prosecution panel said.
House Assistant Majority Leader Jil Bongalon said that the prosecution is open to incorporating new evidence from the ICC if it strengthens the impeachment case against the Vice President.
“We can consider that because, again, all evidence that will, of course, make our case stronger, definitely can be used against the impeachment complaint,” Bongalon, the nominee said in a news conference.
He said that while the Articles of Impeachment have already been filed before the Senate, which includes a substantial amount of evidence, additional testimonial evidence or new witnesses could still be introduced.
“If there is other testimonial evidence, other witnesses who are willing to testify before the Senate sitting as an impeachment trial court, definitely we can consider that,” he added.
However, Bongalon emphasized that any new evidence must undergo careful review and deliberation among both public and private prosecutors handling the case.
Duterte arrest won’t lead to instability–lawmaker
LBy Jovee Marie Dela Cruz @joveemarie
AWKERS have dismissed concerns that the arrest of former President Rodrigo Duterte on charges of crimes against humanity before the International Criminal Court (ICC) would lead to political instability, saying that the country remains stable under the leadership of President Marcos.
In a news conference, Deputy Majority Leader Paolo Ortega V downplayed attempts by Duterte’s allies, particularly former presidential spokesperson Harry Roque, to incite unrest.
Ortega, who represents La Union, acknowledged that Duterte’s supporters might stage protests but asserted that these actions would not lead to real political instability.
“They will try to make noise; they will organize rallies, but I do not believe this will cause direct instability,” Ortega added.
House Assistant Majority Leader Jude Acidre echoed this sentiment, stating that the most vocal critics remain the same individuals who have always opposed the administration, but their noise does not equate to broad public support.
“The loudest voices will always be loud. But whether the public will actually support them, I highly doubt,” Acidre, a nominee of the party-list group Tingog, said.
He pointed to the Marcos administration’s strong economic policies, law enforcement professionalism, and commitment to justice as key stabilizing factors.
“Our economic fundamentals are strong. Additionally, we have demonstrated both locally and internationally that the rule of law is applied equally to all,” he added.
Acidre added that Duterte’s arrest does not reflect poorly on the Philippine justice system but rather highlights the importance of international mechanisms when local processes fail.
“Before reaching the ICC, complaints were filed with the prosecutor’s office and the police, yet no substantial efforts were made to prosecute or investigate. That is why the case escalated to The Hague,” Acidre explained.
He also refuted claims that Duterte’s ICC arrest compromises the country’s sovereignty.
“The fact that we are part of it and we are able to join an international proceeding such as the ICC is already an act of sovereignty. If we lacked sovereignty, we wouldn’t even be recognized in these proceedings,” he said.
Acidre emphasized that the Philippine government’s cooperation in turning over Duterte to the ICC aligns with local and international laws.
Meanwhile, Ako Bicol Party-list Rep. Zaldy Co on Wednesday denied ownership of the Gulfstream G550 jet with tail number RP-
C5219, which reportedly carried former President Rodrigo Duterte to The Netherlands.
In a statement, Co addressed social media posts claiming his ownership of the aircraft, labeling them as “false.”
“Please be advised that the jet plane with tail number RP-C5219 which carried former President Rodrigo Duterte to The Netherlands is not owned by Ako Bicol Party-list Rep. Zaldy Co. Social media posts claiming otherwise are false,” the statement read.
Co urged the public and media to exercise greater discernment and verify information with proper authorities before sharing it, emphasizing the importance of responsible information dissemination to prevent the spread of false or unverified claims.
Situation normal
THE National Police (PNP) on Wednesday reported that the overall peace and order situation across the country remains generally peaceful following Duterte’s arrest.
The former President, who is the subject of an ICC arrest warrant left the country aboard a chartered jet at approximately 11:03 p.m. Tuesday to face charges in The Hague, the Netherlands.
Accompanying the former President was his former Executive Secretary, Salvador Medialdea and his chosen nurse.
The PNP raised its alert status to heightened alert nationwide
Quad Committee leaders: Think of the EJK victims
TWO leaders of the House of Representatives’ Quad Committee on Wednesday urged the public to keep the focus on justice for the victims rather than on former President Rodrigo Duterte, following his arrest by the International Criminal Court (ICC).
Meanwhile, Bongalon also commented on reports that Vice President Duterte traveled to the Netherlands following the arrest of her father, former President Duterte, who is now en route to The Hague to face trial at the ICC.
He pointed out that the former President had previously expressed his intention to serve as legal counsel for his daughter in the impeachment proceedings.
“When the impeachment issue arose, former President Rodrigo Duterte was one of those who signified their intent to stand as her legal counsel,” he explained.
Bongalon, who is part of the House prosecution team, also confirmed that he has been assigned to handle two key articles of impeachment against the Vice President.
“Well, I was tasked to handle Article 2 of the articles of impeachment plus Article 3. We are given the free will to join other articles, but I guess these two articles are already enough for me to handle,” he said.
He explained that Article 2 covers the alleged misuse of confidential funds in the Office of the Vice President and the Department of Education, while Article 3 pertains to bribery involving DepEd officials.
He added that the House prosecution team had already divided the articles among its members in preparation for the impeachment trial. Jovee Marie N. dela Cruz
House Assistant Majority Leaders Zia Alonto Adiong and Jude Acidre said that the issue is about the thousands of individuals who were denied due process and whose families continue to seek justice.
“The ICC case is not about Duterte—it is about the victims,” Adiong, who represents Lanao del Sur, said.
“For years, families of the slain have cried out for justice. They buried their children, their fathers, and their brothers with no accountability for their deaths. Now that justice is finally within reach, Duterte and his allies want to rewrite the narrative, framing this as political persecution. But the real persecution happened in our streets, in our alleys, in our communities—where the powerless
were gunned down in cold blood,” added Acidre, a nominee of the party-list group Tingog.
Adiong, who chairs the House Ad Hoc Committee on Marawi Rehabilitation and Victims Compensation, and Acidre, chairman of the House Committee on Overseas Welfare Affairs, highlighted that Duterte’s arrest is a significant development but should not overshadow the struggles of the victims’ families.
The QuadCom has played a key role in exposing allegations of a “reward system” that incentivized police officers to carry out drug-related killings during Duterte’s presidency. Witness testimonies, including those of former Philippine Charity Sweepstakes Office general manager and retired Police Colonel Royina Garma, have shed light on these practices.
Adiong and Acidre recalled the tragic stories of young victims who became symbols of the brutal drug war: 17-year-old Kian delos Santos, who was dragged into a dark alley in Caloocan City in 2017, was heard pleading, “ Tama
napo!May test paakobukas!” before he was executed. Police falsely claimed he fought back, but CCTV footage proved otherwise.
The lawmakers also remembered Carl Angelo Arnaiz, 19, a former University of the Philippines student who left home to buy snacks, only to be found dead ten days later with gunshot wounds. Forensic evidence indicated he had been tortured and shot while on his knees and Reynaldo “Kulot” de Guzman, 14, who disappeared with Carl and was later found floating in a creek in Gapan, Nueva Ecija, with multiple stab wounds.
“These children were denied due process. They were accused, tried, and executed in seconds—not by a court, but by a bullet or dagger,” said Acidre.
Adiong pointed out the irony of Duterte now receiving all legal protections under international justice mechanisms, “despite his past mockery of human rights and trials.”
Legal experts have clarified that Duterte’s withdrawal of the Philippines
Re-affiliate with ICC, lawmaker tells Marcos
ALAWMAKER has called on the Marcos administration to re-affiliate the Philippines with the International Criminal Court (ICC), following the arrest of former President Rodrigo Duterte.
Duterte faces accusations of crimes against humanity at the ICC related to his administration’s “war on drugs,” which resulted in thousands of deaths.
Bataan Rep. Geraldine Roman, chairperson of the House Committee on Women and Gender Equality, emphasized that rejoining the ICC would demonstrate the Philippines’ commitment to international law.
Roman told a news conference that it was her personal suggestion
that the country rejoin the ICC. “We unilaterally withdrew from the ICC. It’s time to return and show the world that we respect our laws and international law,” Roman said.
She argued that re-affiliation aligns with President Marcos’ stated commitment to the rule of law. “If this is a position that recognizes a rule-based order, then let’s walk the talk. Let’s go back to the ICC. I believe we have nothing to fear and that our President is determined to uphold the rule of law,” Roman said.
The Philippines withdrew from the ICC in 2018 under Duterte during the ICC’s investigation into his drug war. However, the ICC retains jurisdiction
over crimes committed before a country’s withdrawal.
However, the ICC treaty allows the international tribunal to retain its jurisdiction over crimes committed prior to a countrysignatory’s withdrawal.
Roman expressed sadness over Duterte’s arrest, acknowledging its potential to divide the country. However, Roman stressed her duty as a legislator to uphold the rule of law. “These developments are natural consequences of decisions to operate outside the law. We have no choice but to follow our Constitution and laws,” the lawmaker said.
Roman urged the former president’s allies and supporters to look
effective 5 p.m. Tuesday as part of its standard security measures. The PNP chief, Gen. Rommel Francisco Marbil, assured the public that security measures remain in place to maintain order.
“The PNP continues to monitor the situation closely and is fully prepared to respond to any developments. Our personnel have been strategically deployed to ensure peace and security nationwide,” he said. As of Wednesday, he said the situation “remains under control.”
The Armed Forces (AFP) meanwhile maintained that it is professional and non-partisan even as it stressed that the arrest of Duterte “is a law enforcement matter.”
In a message to reporters the AFP spokesperson, Col. Francel Margareth Padilla, said that the military remains focused on its core mission of safeguarding national security and maintaining stability.
“The arrest of former President Rodrigo Duterte is a matter of law enforcement, and therefore, outside the AFP’s direct purview. The AFP remains strictly professional and non-partisan,” she added.
And while the security situation remains stable, Padilla said the AFP is actively monitoring developments and is prepared to respond appropriately to any threats to peace and order.
“We assure the public that we maintain a high state of readiness,” she added. With Rex Anthony Naval
from the ICC in 2019 does not absolve him of responsibility for crimes committed while the country was still under the court’s jurisdiction.
House Minority Leader Marcelino Libanan expressed strong support for the Philippine government’s cooperation with Interpol in enforcing the arrest warrant against Duterte.
“By collaborating with Interpol, the Philippines sends a strong message to the global community: we are committed to upholding the rule of law, respecting international legal norms, and ensuring that justice prevails,” Libanan stated. The minority leader, who previously served as Commissioner of the Bureau of Immigration (BI), emphasized the importance of international cooperation in law enforcement.
The Philippines, a member of Interpol since 1951, has utilized the organization’s global database and coordination networks to combat transnational crimes.
“No one is above the law. The pursuit of justice must be steadfast, impartial, and aligned with both national and international legal standards,” Libanan added. Jovee Marie N. dela Cruz
at his arrest as his chance to prove his innocence.
“If you don’t believe in local courts, give the ICC a chance. If he truly believes he is innocent, he will provide evidence,” Roman said, calling for trust in due process.
Roman emphasized the need to take the “higher moral ground,” even in the face of serious allegations. “If we claim to respect the rule of law, we must observe it. The former president is innocent until proven guilty. Let the ICC do its work,” Roman added. The lawmaker pointed out that Duterte’s arrest is a warning to leaders and their underlings that “you can be as creative as you want, you can be as determined as you want, but you have to operate within the bounds of the law.”
A4 Thursday, March 13, 2025
Economy
Faster dip in import costs seen in Q4–PSA
By Bless Aubrey Ogerio
THE cost of imported goods in the fourth quarter of 2024 declined at a steeper rate than that of exported goods, preliminary data from the Philippine Statistics Authority (PSA) showed.
The unit value index (UVI) for imports dropped by 1.6 percent year-on-year, a sharper decrease than the 1.3 percent decline recorded for exports. In the previous quarter, import costs fell by 1.2 percent, while export costs registered a slight increase of 0.2 percent.
In contrast, the fourth quarter of 2023 saw import costs rise by
1.7 percent and export costs increase by 3.9 percent.
PSA data indicated that the overall decline in import costs was largely due to a 6 percent annual decrease in mineral products, reversing from a 1.3 percent increase in the third quarter of 2024.
“This section contributed 83.8 percent to the downtrend of UVI for imports in the fourth quarter of 2024,” the PSA said. Other contributing factors included lower costs for works of art, collectors’ pieces, and antiques (-2.7 percent from -4.5 percent in Q3 2024) and vegetable products (-2.1 percent from 2.8 percent).
“Of the remaining 19 sections, 12 sections registered annual decreases, while seven recorded annual increases in the fourth quarter of 2024,” the agency stated.
For exports, the annual decline in UVI was mainly driven by machinery and mechanical appliances, which saw a 3.5 percent decrease, compared to a 1.9 percent drop in the previous quarter.
This category, which includes electrical equipment, sound and television recorders, and related parts, contibuted 43.2 percent to the overall export UVI downtrend.
Some key contributors were mineral products (-7.7 percent from -7.6 percent) and optical and
precision instruments, including medical and surgical devices (-5 percent, unchanged from Q3 2024).
“Of the remaining 18 sections, 11 exhibited annual increases, while seven posted annual decreases in the fourth quarter of 2024,” the statistics agency said.
The PSA defines the UVI for exports and imports as a measure of changes in the unit price of traded goods over time. It added that these indices can be used as deflators in GDP calculations under the expenditure approach, as well as for analyzing trade competitiveness, inflation trends and future price movements in international markets.
Chemicals push wholesale prices higher at ’25 start
WHOLESALE prices in the country saw a faster annual increase at the start of 2025, driven mainly by rising costs in chemicals, the latest figures from the Philippine Statistics Authority (PSA) showed.
The General Wholesale Price Index (GWPI) rose by 2.9 percent in January, slightly up from 2.7 percent in December 2024, though still lower than the 3.5 percent recorded in the same month last year.
The index for chemicals, including animal and vegetable oils and fats, posted a higher annual increase at 9.9 percent, up from 8.7 percent in December last year.
Annual price increases accelerated in January for beverages and tobacco
(2.9 percent from 2.1 percent), crude materials (58.6 percent from 50.8 percent), and machinery and transport equipment (1.3 percent from 1.0 percent), while mineral fuels, lubricants, and related materials rose by 0.8 percent after a 0.8 percent drop in December 2024. Meanwhile, food prices saw a slower annual increase at 2.3 percent in January 2025 from 2.5 percent in December 2024, while miscellaneous manufactured articles declined by 0.1 percent after a 0.1 percent increase the previous month. Moreover, the index for manufactured goods classified chiefly by materials remained steady at 1.1 percent. In Luzon, the GWPI climbed to 3.2
percent in January 2025 from 2.8 percent in December 2024, though it was slightly lower than 3.4 percent a year ago. The uptick was driven by a steeper increase in chemicals, including animal and vegetable oils and fats, which rose to 10.7 percent from 9.4 percent in December.
The Visayas, on the other hand, saw its GWPI ease to 1.6 percent in January 2025 from 1.7 percent the month before, a sharp drop from 5.8 percent in January 2024. The slowdown was largely due to a more modest rise in manufactured goods classified chiefly by materials, which inched up by 1.8 percent from 2.4 percent in December.
Mindanao’s GWPI also dipped, settling
at 0.6 percent in January 2025 from 1.1 percent in December and down from 2.3 percent in the same month of the previous year. This was mainly attributed to a decline in the food index, which slipped by 0.2 percent after posting a 0.6 percent increase in December.
The PSA defines the GWPI as an indicator of price fluctuations in goods entering the wholesale trade sector, providing insights into the industry’s economic conditions.
Additionally, it functions as a deflator for national accounts, supports economic analysis and policy-making and helps forecast business trends.
Bless Aubrey Ogerio
Marcos orders expansion of Naga airport, PNR-Bicol Express revival
By Jovee Marie N. dela Cruz @joveemarie
O boost local economies and domestic
Ttourism, President Marcos has directed the Department of Transportation (DOTr) to accelerate the long-delayed expansion of Naga Airport and the revival of the Philippine National Railways-South Long Haul (PNR-SLH) or Bicol Express, a senior lawmaker said.
Camarines Sur Rep. Luis Raymund Villafuerte said Marcos instructed Transportation Undersecretary Timothy John Batan to address the stalled projects during a regional development council (RDC) meeting in Pili, Camarines Sur, last week.
Villafuerte said the Naga Airport expansion will enable larger aircraft to land, increasing connectivity and tourism, while the Bicol Express railway project aims to reduce travel time between Metro Manila and Bicol to four hours.
Villafuerte expressed optimism that newly appointed Transportation Secretary Vince Dizon, known for his involvement in the “Build Build Build” program, will prioritize these projects.
He also urged Dizon to postpone the Manila Slot Coordination Committee’s (MSCC) decision to relocate turboprop flights from Ninoy Aquino International Airport (Naia) to Clark International Airport (CIA) until the Naga Airport runway is expanded.
Regarding the project delays, Batan cited right-of-way (ROW) disputes for the Naga Airport expansion and funding
challenges for the Bicol Express, which was initially planned for Chinese funding. Marcos instructed Batan to explore alternative financing options, including official development assistance (ODA) from Japan or France.
Marcos also directed Batan to see what the DOTr could do to solve the ROW disputes at the soonest so the runway expansion could finally commence, Villafuerte said. The reported Naga runway upgrade plan is to extend the 1.3-kilometer (km) landing strip to 2 km so it can accommodate bigger aircraft such as the Airbus A320. Aside from enhancing air travel safety, Villafuerte said the expansion project would provide a big boost to Bicol trade and tourism as the Naga Airport is one of two gateways to the region. The RDC meeting coincided with a massive rally supporting the administration’s senatorial slate, Alyansa para sa Bagong Pilipinas, which drew an estimated 80,000 attendees. Villafuerte emphasized the strong support for Marcos in Camarines Sur, citing his frequent visits and commitment to local development.
The rally at the sprawling Kaogma Grounds in Camarines Sur’s capital of Pili drew the biggest crowd thus far for Alyansa’s 12-member senatorial ticket a month into this campaign season—a “testament to the formidable support that the President enjoys among us CamSur folk, as we appreciate and value his Administration’s continuous efforts to energize our province and its people,” Villafuerte said.
By Justine Xyrah Garcia & Samuel P. Medenilla @sam_medenilla
THE chance of former president Rodrigo Duterte leading Davao again remains strong as his mayoral bid is still intact despite his recent arrest, the Commission on Elections (Comelec) confirmed.
Comelec Chairman George Erwin M. Garcia said on Wednesday that an arrest does not automatically disqualify an individual from seeking public office.
“Being arrested for an alleged crime— even in our country—is not grounds for disqualification, nor does it strip a person of their civil and political rights,” Garcia said in a press briefing.
He cited the 2023 barangay and Sangguniang Kabataan elections, where three inmates in Cavite, Rizal, and Cagayan de Oro won council seats despite being in detention.
“We don’t have the power to motu proprio in this kind of thing...if there is a petition to disqualify, we will look into it,” he said.
Garcia’s remarks came a day after authorities arrested Duterte at Ninoy Aquino International Airport, enforcing an International Criminal Court (ICC) warrant
for crimes against humanity linked to his bloody war on drugs.
While some argue that Duterte should no longer be allowed to run, Garcia explained that the Omnibus Election Code sets specific grounds for disqualification.
These include election law violations, foreign intervention, conviction for crimes involving moral turpitude or carrying a penalty of more than one year, exceeding term limits, misrepresentation in candidacy documents, dual citizenship, mental incapacity, or disqualifications under specific laws like the Anti-Graft and Corrupt Practices Act.
Since Duterte has not been convicted of any crime, Comelec confirmed that he remains eligible to campaign and assume office if elected.
What if Duterte wins while in detention?
IF DUTERTE secures victory while detained at the ICC’s facility in The Hague, Netherlands, Garcia said Comelec can only suspend his proclamation if there is a strong legal basis—such as an ongoing disqualification case with compelling evidence.
“Any candidate facing a case before the Comelec, where the petition for disqualification or cancellation is supported
by overwhelming evidence, may have their proclamation suspended,” he explained. However, until a final ruling is issued— whether in a criminal or disqualification case—an elected candidate remains legally recognized, he added.
Substitution rules
ON the issue of candidate substitution, Comelec is still awaiting a Supreme Court ruling on a similar case involving a vice mayoral bet in Limay, Bataan.
Last week, the High Court allowed the said substitution even if it is beyond the commission’s deadline—which could set a precedent. Under Comelec’s rules, substitution due to withdrawal or disqualification was only permitted until October 8 last year. After that deadline, only candidates who die or become incapacitated can be replaced—up until noon on election day. In such cases, only individuals with the same surname and from the same political party may serve as substitutes.
“Maybe it’s too early to talk about it because it’s very speculative,” Garcia said.
Not off the hook yet from local probe on EJK
FORMER President Rodrigo R. Duterte is
Chinese cyber troops wage ‘shadow war’ in PHL cyberspace–Stratbase
By Justine Xyrah Garcia
CHINESE cyber troops are waging a silent but aggressive “shadow war” in Philippine cyberspace, using social media to manipulate public discourse, spread disinformation, and suppress critical voices.
Dindo Manhit, president of the Stratbase Group, warned that these influence operations are designed to distort national narratives, particularly on sensitive geopolitical issues, and sway public perception in favor of China’s interests.
“Imagine our policy, narratives, our electoral process, our democracy being shaped by fake news for the lack of capacity of people—especially people in what we call social class,” Manhit said during a cybersecurity conference on Wednesday. He explained that these cyber troops
operate through coordinated disinformation campaigns that not only push pro-China propaganda but also attempt to drown out opposing views.
By launching smear campaigns and diverting attention away from contentious issues such as the West Philippine Sea, they seek to control the digital space and influence discussions.
These operations rely on bots, fake accounts, and human trolls to artificially boost engagement, creating the illusion of widespread public support for pro-China narratives.
Manhit noted that this extends beyond mere online comments, as cyber troops now produce their own content—including blog posts, YouTube videos, fake news stories, and memes—to reinforce their messaging.
“They target social media networks
Plastic tarps use can cause cadmium pollution–group
By Jonathan L. Mayuga @jonlmayuga
THE environmental watchdog group
EcoWaste Coalition appealed to national and local candidates for the May 12 midterm elections to cut down on their use of plastic campaign materials, particularly tarpaulins made of polyvinyl chloride (PVC) plastic that causes cadmium pollution.
“We’ve been seeing the unrestrained production and consumption of plastic tarpaulins with the ‘tarpaulinization’ of the electoral campaign,” Aileen Lucero, National Coordinator, EcoWaste Coalition said in a statement. “It seems to be sky’s the limit despite the supposed preference for eco-friendly materials and the legal cap on campaign expenditures. We find this deeply concerning.”
The group expressed concern that as election fever continues to rise, candidates in the midterm election are stepping up poster activities using plastic tarpaulins.
Aside from the huge volume of plastic tarpaulins made, used, and eventually disposed of during the electoral exercise, the EcoWaste Coalition is concerned about the fate of hazardous chemicals in tarpaulins, cadmium in particular, which can be transported to other locations and persist for long periods.
The EcoWaste Coalition said it collected 70 pieces of plastic scraps from various shops in the City of Manila where campaign tarpaulins can be done for as low as P24 per piece, or four pesos per square foot for a 2 feet x 3 feet poster, for a “roll to roll” printing.
The group then screened the plastic scraps for cadmium using an X-Ray Fluorescence (XRF) device, which detected cadmium in the range of 143 parts per million (ppm) to 415 ppm in all the materials analyzed.
The group also collected campaign tarpaulins of senatorial candidates, 38 out of 62 bets to date, 12 of which will be submitted to a private laboratory for confirmatory cadmium analyses. The test results will be publicly released in due course. Under the European Commission
Regulation No. 494/2011, manufacturers are prohibited from placing mixtures and articles produced from plastic material with cadmium “equal to or greater than 0.01 percent by weight,” or 100 ppm. The detection of cadmium above 100 ppm in plastic tarpaulins being used by candidates is disturbing, the EcoWaste Coalition said, as these materials would surely end up in disposal sites and the natural environment.
Cadmium is a non-essential and toxic element for humans, mainly affecting the kidneys and the skeleton. It is also a carcinogen by inhalation. Cadmium is accumulated in bone and may serve as a source of exposure later in life.”
“In the environment, cadmium is toxic to plants, animals, and microorganisms. Being an element, cadmium is persistent—it cannot be broken down into less toxic substances in the environment. The degree of bioavailability and potential for effects varies depending on the form of cadmium.
Cadmium bioaccumulates mainly in the kidneys and liver of vertebrates and in aquatic invertebrates and algae,” UNEP said.
According to UNEP, “products containing cadmium are not typically collected separately from the general waste stream in developing countries. Therefore, cadmium discards will end up in municipal waste and disposed of in landfills, incineration, open burning or indiscriminate dumping.”
“Some of the cadmium in these products will be released to the environment, the extent of which depends on disposal method, control technologies applied and other factors,” it said.
“The open burning in some developing countries of waste products containing cadmium could be an important source of local and regional cadmium releases to land and aquatic systems,” UNEP stated. To reduce the risk of cadmium exposure to human health and the environment, the Department of Environment and Natural Resources (DENR) promulgated a Chemical Control Order (CCO) regulating cadmium through DENR Administrative Order No. 2021-08.
While cadmium in products and materials not considered as a chemical substance or mixture is not within the scope of the CCO, DENR encourages the use
still not off the hook yet from the ongoing local probe on the extra judicial killings (EJK) during the bloody war against illegal drugs of his administration amid his pending crimes against humanity case before the International Criminal Court (ICC).
In a press briefing in Malacañang last Wednesday, Palace Press Officer Claire Castro clarified that Duterte can still face local charges related to EJKs from the state and from the families of the EJK victims.
“There is no waiver yet of the right of the state to still run after him [Duterte] if there are other complainants in the country,” she said in Filipino.
“If he returns after successfully defending himself [before the ICC], he may face cases here,” she added. Last Tuesday, Duterte became the first Filipino president to be arrested by the International Criminal Police Organization (Interpol) through an arrest warrant issued by the ICC.
He left the country on 11 March 2025, and as of Wednesday morning the former President was already in Dubai, United Arab Emirates (UAE). Castro reiterated the government is ready to ensure the rights of the former President. “Even if you are not a former President, as long as you are Filipino, you can be sure of assistance from
with fake news and amplify a network of ‘influencers’ and bloggers by inflating the number of likes, shares, and followers— creating an artificial sense of popularity, relevance, and momentum for popular public support for Chinese narratives and pro-China policies,” he said.
While these activities have long been present in the digital space, concerns are growing over their potential impact, especially with the 2025 midterm elections approaching.
A recent Social Weather Stations survey commissioned by Stratbase found that a majority of Filipinos struggle to distinguish real from fake information.
The nationwide poll, conducted from February 15 to 19 among 1,800 respondents, showed that 65 percent of Filipinos find it difficult to verify the accuracy of the news they consume. Among them,
of products and materials without cadmium to avoid and reduce the release of cadmium to the environment.
As PVC plastics are widely used for commercial advertisements, public service announcements, political campaigns, conference notices, street signages, and in banners for socio-cultural events like baptismal and birthday parties, graduation rites, weddings and even in funerals, the EcoWaste Coalition urged the government to take steps to control, if not impose an outright ban, on cadmium in plastic materials to minimize cadmium pollution and safeguard human health and the environment.
“As there is no policy yet restricting or banning cadmium in plastics, all we can do is to appeal to all well-meaning candidates from the entire political spectrum to moderate their use of tarpaulins, abide by the Comelec campaign rules, and ensure the judicious use of resources as they woo the electorate to vote for them,” the EcoWaste Coalition said.
43 percent said they found it somewhat difficult, while 22 percent said they found it very difficult.
The survey also revealed that 59 percent of Filipinos consider false information on social media—primarily on Facebook, X (formerly Twitter), and YouTube—a serious concern.
Meanwhile, 62 percent believe fake news is prevalent in traditional media, such as television, radio, and newspapers.
More than half, or 55 percent, said they frequently encounter fake news across both social and traditional media, with 27 percent saying they often see misinformation and 28 percent saying they sometimes do.
Manhit warned that these conditions allow disinformation networks to thrive, enabling malicious actors to manipulate public opinion.
“With 65 percent of Filipinos struggling
the government,” she said.
Working legal system
THE ICC case against Duterte stemmed from the complaints filed by Filipino lawyer Jude Sabio, former Senator Antonio Trillanes IV and the Magdalo Party-list.
Among those accused, who were in the said complaints were Duterte and Senator Ronald Del Rosa.
Castro said President Ferdinand Marcos authorized for the country to “surrender” Duterte to the Interpol based on the provisions of Republic Act No. 9851 or the Philippine Act on Crimes Against Humanitarian Law, Genocide, and Other Crimes Against Humanity.
She said the government is ready to surrender other accused in the said EJKrelated complaints if it will be coursed through the Interpol.
Under Section 17 of RA 9851, she said the government may surrender or extradite suspect or accused persons in the Philippines to the appropriate court, if any, or to another State pursuant to the applicable extradition laws and treaties.
Castro said the turnover of Duterte to the custody of the ICC does not mean that the country’s court system is currently not capable of giving justice to EJK victims, which reached at least 6,000 during the term of the former president.
Duterte can face up to 30-years of
to distinguish real from fake information, the dangers of disinformation grow, especially as the 2025 midterm elections approach. Fake news manipulates public opinion, distorts democratic choices, and enables corrupt forces to maintain power,” he said.
He urged Filipinos to exercise caution and critical thinking when consuming news, particularly during election season.
“Filipinos must remain vigilant, verify sources, and think critically before believing or sharing news. Sinister actors, especially this election season, will exploit misinformation to sway votes. Do not let them. A well-informed electorate is the strongest defense against deception and electoral fraud,” he added.
Beyond disinformation, Manhit also emphasized the need for stronger government efforts to counter foreign influence and safeguard national sovereignty.
“It’s good to raise that. So it’s quite
imprisonment if he is convicted for crimes against humanity. Due process
CASTRO noted that the courts may not have worked properly during the administration of Duterte, when EJK investigations were stalled.
“The government was given one year [by the ICC] to prove that the justice [system] is working against the war on drugs of the former President Duterte, but no case was filed, that is why the investigation of the [ICC] prosecutor continued,” Castro explained.
Castro said this is no longer the case under the current administration, wherein the Department of Justice (DOJ) announced last November that it created a task force to fast-track the investigation on the EJK. She reiterated the ICC has also provided all of the accused due process.
“If anyone is guilty and claims that they were not given due process, they themselves have renounced their right to be heard by the prosecutor regarding their evidence,” Castro said.
Despite Duterte’s turnover to ICC’s custody, Castro said the Marcos administration has yet to determine if it will rejoin the Hague-based tribunal.
In 2019, the country left the jurisdiction of the ICC after it withdraw from the Rome Statute.
helpful that after more than eight years, we passed a law in our maritime zone that defines these things a little bit. And hopefully, the government, in the meantime, whose basis is outlaws, can simply use that to educate the public,” he said.
As cyber troops continue to shape political discourse, Manhit warned that their activities are no longer limited to misleading social media posts. They are now leveraging digital platforms to manufacture political narratives and influence public sentiment on a larger scale.
“This shows, without realizing, a simple line will be moved into social media and turned into stories—to put doubt on our own sovereignty, our own protection, our own exclusive anonymity,” he said. For Manhit, the battle for truth in Philippine cyberspace has become a battleground of its own.
“We are in what I call a shadow war,” he said.
Duterte’s flight to The Netherlands delayed almost 7 hours in Dubai
THE chartered jet that is carrying former President Rodrigo Duterte to the International Criminal Court in The Netherlands was delayed for more than 7 hours during a layover in Dubai.
The live flight tracker FlightRadar24 showed that the Gulfstream G550 aircraft with tail number RPC-5219 arrived in Dubai for a stopover around 4:03pm (8:03 p.m. Manila time), March 12. Based on the FlightRadar24, the flight plan of RPC-5219 was to depart Dubai at 5:15am (9:15 a.m. Manila time).
However, the plane was only able to depart at 11:58 a.m. (3 p.m. Manila time).
B usiness M irror asked the Department of Foreign Affairs and the Philippine Embassy in the United Arab Emirates on the reason for more than 6-hour delay. DFA spokesperson Ma. Teresita Daza replied that they are deferring all queries related to the arrest of Duterte to the Philippine National Police and the Department of Justice.
A source told B usiness M irror that the plane was stranded as the pilot had to wait for the overflight clearance from a North African country where the plane would pass. Around 4:30 p.m., Duterte’s daughter, Veronica “Kitty” Duterte, posted photo of his father eating fried rice. “Update as of now,” her caption reads. According to Flight Radar 24, the chartered jet is scheduled to arrive in Rotterdam The Hague international airport at 5:33 p.m. (9:33 p.m.) Manila) March 12. Malou Talosig-Bartolome
DMW and Sweden ink first labor agreement, eye sustainable migration
THE Department of Migrant Workers (DMW) is now eyeing to sign its first ever bilateral labor agreement (BLA) with Sweden for sustainable migration.
The proposed agreement was discussed during the meeting of DMW Secretary Hans
J. Cacdac and Foreign Affairs Assistant Secretary and Ambassador-Designate of the Philippines to Sweden Patrick A. Chuasoto at the DMW Central Office in Mandaluyong City last Wednesday.
“Both officials expressed optimism about
the future support and protection of OFWs [overseas Filipino workers] in Sweden with the possibility of forging a bilateral agreement that promotes regular, ethical, orderly, and sustainable migration of OFWs,” DMW said in a statement. Samuel P. Medenilla
Trump raises steel and aluminum tariffs to 25%, prompting economic concerns as EU retaliates
WBy Josh Boak & Paul Wiseman The Associated Press
ASHINGTON—President
Donald Trump officially increased tariffs on all steel and aluminum imports to 25 percent on Wednesday, promising that the taxes would help create US factory jobs at a time when his seesawing tariff threats are jolting the stock market and raising fears of an economic slowdown.
Trump removed all exemptions from his 2018 tariffs on the metals, in addition to increasing the tariffs on aluminum from 10 percent. His moves, based off a February directive, are part of a broader effort to disrupt and transform global commerce. The US president has separate tariffs on Canada, Mexico and China, with plans to also tax imports from the European Union, Brazil and South Korea by charging “reciprocal” rates starting on April 2. The EU announced its own
countermeasures on Wednesday. European Commission President Ursula von der Leyen said that as the United States was “applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” or about $28 billion. Those measures, which cover not just steel and aluminum products, but also textiles, home appliances and agricultural goods, are due to take effect on April 1.
Trump told CEOs in the Business Roundtable on Tuesday that
the tariffs were causing companies to invest in US factories. The 8 percent drop in the S&P 500 stock index over the past month on fears of deteriorating growth appears unlikely to dissuade him, as Trump argued that higher tariff rates would be more effective at bringing back factories.
“The higher it goes, the more likely it is they’re going to build,” Trump told the group. “The biggest win is if they move into our country and produce jobs. That’s a
bigger win than the tariffs themselves, but the tariffs are going to be throwing off a lot of money to this country.”
Trump on Tuesday threatened to put tariffs of 50 percent on steel and aluminum from Canada, but he chose to stay with the 25 percent rate after the province of Ontario suspended plans to put a surcharge on electricity sold to Michigan, Minnesota and New York.
In many ways, the president is addressing what he perceives
Transatlantic trade war: EU responds to Trump’s tariffs with retaliatory duties on $28 billion in American goods
By Lorne Cook
The Associated Press
BRUSSELS—The European Union on Wednesday announced retaliatory trade action with a series of duties on US industrial and agricultural products that will go into effect from April 1, responding to the Trump administration increase in tariffs on all steel and aluminum imports to 25 percent.
The world’s biggest trading bloc was expecting the US tariffs and prepared in advance, but the measures still place great strain on already tense transatlantic relations. Only last month, Washington warned Europe that it would have to take care of its own security in the future.
The EU measures will cover goods from the United States worth some 26 billion euros ($28 billion), and not just steel and aluminum products, but also textiles, home appliances and agricultural goods. Motorcycles, bourbon, peanut butter and jeans will be hit, as they were during President Donald Trump’s first term.
Britain—which is not part of the EU—meanwhile said it would not impose retaliatory measures of its own on the United States. The
UK government called Washington’s decision to impose 25 percent tariffs on global steel and aluminum imports “disappointing.”
The EU moves to protect itself EUROPEAN Commission President Ursula von der Leyen said in a statement announcing the measures Wednesday that the bloc “will always remain open to negotiation.”
“As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” she said. The commission manages trade and commercial conflicts on behalf of the 27 member EU countries.
“We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs,” von der Leyen said.
The commission also said that steel and aluminum products would be hit in return, but also textiles, leather goods, home appliances, household tools, plastics and wood. Agricultural products will also be impacted—including poultry, beef, some seafood, nuts, eggs, sugar and vegetables.
Trump said his taxes would help create US factory jobs, but von
der Leyen said: “Jobs are at stake. Prices will go up. In Europe and in the United States.”
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty for the economy,” she said.
What will actually happen?
TRUMP slapped similar tariffs on EU steel and aluminum during his first term in office, which enraged European and other allies. The EU also imposed countermeasures in retaliation at the time, raising tariffs on US-made motorcycles, bourbon, peanut butter and jeans, among other items.
This time, the EU action will involve two steps. First, the commission will reintroduce what it calls “rebalancing measures,” which the EU had from 2018 and 2020 but which were suspended under the Biden administration, then additional duties targeting 18 billion euros ($19.6 billion) in US exports to the bloc.
European Commission Vice President Maroš Šefčovič traveled to Washington last month in an effort to head off the tariffs, meeting with US Commerce Secretary Howard Lutnick and other top trade officials.
He said on Wednesday that it became clear during that trip “that the EU is not the problem.”
“I argued to avoid the unnecessary burden of measures and countermeasures, but you need a partner for that. You need both hands to clap,” Šefčovič told reporters at the European Parliament in Strasbourg, France.
European steel companies brace for losses
THE EU could lose up to 3.7 million tons of steel exports, according to Henrik Adam, president of the Eurofer European steel association.
“It will further worsen the situation of the European steel indus -
as unfinished business from his first term. Trump meaningfully increased tariffs, but the revenues collected by the federal government were too small to significantly increase overall inflationary pressures. Trump’s 2018 tariffs on steel and aluminum were eroded by exemptions.
After Canada and Mexico agreed to his demand for a revamped North American trade deal in 2020, they avoided the import taxes on the metals. Other US trading partners had import quotas supplant the tariffs. And the first Trump administration also allowed US companies to request exemptions from the tariffs if, for instance, they couldn’t find the steel they needed from domestic producers.
While Trump’s tariffs could help steel and aluminum plants in the United States, they could raise prices for the manufacturers that use the metals as raw materials.
Moreover, economists have found, the gains to the steel and aluminum industries were more than offset by the cost they imposed on “downstream’’ manufacturers that use their products.
At these downstream companies, production fell by nearly
AUSTRALIAN Prime Minister Anthony Albanese gestures during a press conference in Sydney, Wednesday, March 12, 2025 DEAN LEWINS/AAP IMAGE VIA AP
try, exacerbating an already dire market environment,” Adam said last month.
The US is the second biggest export market for EU steel producers, representing 16 percent of the total EU steel exports.
“Losing a significant part of these exports cannot be compensated by EU exports to other markets,” Adam said.
Transatlantic trade
THE EU estimates that annual trade volume between both sides stands at about $1.5 trillion, representing some 30 percent of global trade. While the bloc has a substantial export surplus in goods, it says that is partly offset by the US surplus in the trade of services.
The commission says that trade in goods reached 851 billion euros ($878 billion) in 2023, with a trade surplus of 156 billion euros ($161 billion) for the EU. Trade in services was worth 688 billion euros ($710 billion) with a trade deficit of 104 billion euros ($107 billion) for the EU.
Meanwhile, British Business Secretary Jonathan Reynolds said Wednesday he would “continue to engage closely and productively with the US to press the case for UK business interests.” He did not rule out future tariffs on US imports, saying “we will keep all options on the table and won’t hesitate to respond in the national interest.”
Center-left Prime Minister Keir Starmer has worked to build strong ties with Trump, in hope of avoiding the tariffs levied on many other US trading partners.
Reynolds said the government remains “focused on a pragmatic approach and are rapidly negotiating a wider economic agreement with the US to eliminate additional tariffs and to benefit UK businesses and our economy.”
The Associated Press writer Jill Lawless in London contributed to this report.
$3.5 billion because of the tariffs in 2021, a loss that exceeded the $2.3 billion uptick in production that year by aluminum producers and steelmakers, the US International Trade Commission found in 2023.
Trump sees the tariffs as leading to more domestic factories, and the White House has noted that Volvo, Volkswagen and Honda are all exploring an increase to their US footprint. But the prospect of higher prices, fewer sales and lower profits might cause some companies to refrain from investing in new facilities.
“If you’re an executive in the boardroom, are you really going to tell your board it’s the time to expand that assembly line?” said John Murphy, senior vice president at the US Chamber of Commerce.
The top steel exporters to the US are Canada, Mexico, Brazil, South Korea and Japan, with exports from Taiwan and Vietnam growing at a fast pace, according to the International Trade Administration. Imports from China, the world’s largest steel producer, account for only a small fraction of what the US buys.
The lion’s share of US aluminum imports comes from Canada.
Albanese decries US tariffs on Australian steel and aluminum as unjustified, but no retaliation
By Rod Mcguirk The Associated Press
MELBOURNE, Australia—Australian Prime Minister Anthony Albanese said Wednesday that US tariffs on Australian steel and aluminum were unjustified, but his government would not retaliate with its own tariffs.
US President Donald Trump said last month he was considering a tariff exemption for Australia, a free trade treaty partner that has traded with the United States at a deficit for decades.
A former Australian government secured an exemption with the previous Trump administration in 2018 based on arguments including that Australian steelmaker BlueScope employs thousands of workers in the US.
Albanese said he would continue to pursue an Australian exemption. The 2018 exemption took several months to secure.
“It has been foreshadowed that no country regardless of its relationship with the United States has been granted an exemption. Such a decision by the Trump administration is entirely unjustified,” Albanese said.
“Tariffs and escalating trade tensions are a form of economic self-harm and a recipe for slower growth and higher inflation. They are paid by the consumers. This is why Australia will not be imposing reciprocal tariffs on the United States,” Albanese added.
The US officially increased tariffs on all steel and aluminum imports to 25 percent on Wednesday.
The US decision not to exempt Australia
was announced days after a spat became public between Trump and the former Australian prime minister who secured the 2018 exemption, Malcolm Turnbull. Trump described Turnbull, who quit politics in 2018 after being overthrown as prime minister by his own government, as a weak and ineffective leader.
“Malcolm Turnbull, the former Prime Minister of Australia who was always leading that wonderful country from ‘behind’, never understood what was going on in China, nor did he have the capacity to do so,” Trump wrote on social media.
“I always thought he was a weak and ineffective leader and, obviously, Australian’s (sic) agreed with me!!!” Trump added.
Trump was responding to an interview Turnbull gave this week to US media company Bloomberg in which the former Australian leader said Chinese President Xi Jinping would take advantage of the US president’s chaotic and erratic leadership.
“I think China will take advantage, massive advantage of Trump,” Turnbull told Bloomberg.
“What my prediction will be that President Xi will aim to be the exact opposite of Trump. Where Trump is chaotic, he will be consistent. Where Trump is rude and abusive, he’ll be respectful. Where Trump is erratic, he will be consistent,” Turnbull said.
“And what that will do is build trust with countries, and there’ll be many countries who will, you know, looking at China on the one hand and Trump on the other, will find China a more attractive partner,” Turnbull added.
Pope Francis follows Vatican spiritual retreat; doctors say he’s no longer in imminent danger
By Nicole Winfield The Associated Press
OME—Pope Francis participated remotely in the Vatican’s spiritual retreat Tuesday after getting good news
from his doctors: They upgraded his prognosis and say he is no longer in imminent danger of death as a result of the respiratory in -
fection that has kept him hospitalized for nearly a month in the longest and gravest threat to his 12-year papacy.
The 88-year-old pope isn’t out of the woods yet, however. Doctors are still cautious and have decided to keep him hospitalized for sev -
eral more days to receive treatment, not to mention a period of See “Pope,” A8
Thursday, March 13, 2025 www.businessmirror.com.ph
US resumes military aid and intelligence sharing as Ukraine says it is open to a 30-day ceasefire
By Matthew Lee The Associated Press
JEDDAH, Saudi Arabia—The Trump administration lifted its suspension of military aid and intelligence sharing for Ukraine, and Kyiv signaled that it was open to a 30-day ceasefire in the war with Russia, pending Moscow’s agreement, American and Ukrainian officials said Tuesday following talks in Saudi Arabia.
The administration’s decision marked a sharp shift from only a week ago, when it imposed the measures in an apparent effort to push Ukrainian President Volodymyr Zelenskyy to enter talks to end the war with invading Russian forces. The suspension of US assistance came days after Zelenskyy and President Donald Trump argued about the conflict in a tense White House meeting.
Secretary of State Marco Rubio, who led the US delegation to the talks in Jeddah, said Washington would present the ceasefire offer to the Kremlin, which has so far opposed anything short of a permanent end to the conflict without accepting any concessions.
“We’re going to tell them this is what’s on the table. Ukraine is ready to stop shooting and start talking. And now it’ll be up to them to say yes or no,” Rubio told reporters after the talks. “If they say no, then we’ll unfortunately know what the impediment is to peace here.”
Trump’s national security adviser, Mike Waltz, added: “The Ukrainian delegation today made something very clear, that they share President Trump’s vision for peace.”
Tuesday’s discussions, which lasted for nearly eight hours, appeared to put to rest—for the moment at least—the animosity between Trump and Zelenskyy that erupted during the Oval Office meeting last month.
Waltz said the negotiators “got into substantive details on how this war is going to permanently end,” including long-term security guarantees. And, he said, Trump agreed to immediately lift the pause in the supply of billions of dollars of US military aid and intelligence sharing.
Seeking a deal with Russia
TRUMP said he hoped that an agreement could be solidified “over the next few days.”
“I’ve been saying that Russia’s been easier to deal with so far than Ukraine, which is not supposed to be the way it is,”
Trump said later Tuesday. “But it is, and we hope to get Russia. But we have a full ceasefire from Ukraine. That’s good.”
The Kremlin had no immediate comment on the US and Ukrainian statements. Russian Foreign Ministry spokesperson Maria Zakharova said only that negotiations with US officials could take place this week.
Trump ‘s special envoy, Steve Witkoff, is expected to travel later this week to Moscow, where he could meet with Russian President Vladimir Putin, according to a person familiar with the matter but not authorized to comment publicly. The person cautioned that scheduling could change.
Officials met in Saudi Arabia only hours after Russia shot down over 300 Ukrainian drones in Ukraine’s biggest attack since the Kremlin’s full-scale invasion. Neither US nor Ukrainian officials offered any comment on the barrage.
Russia also launched 126 drones and a ballistic missile at Ukraine, the Ukrainian air force said, as part of Moscow’s relentless pounding of civilian areas.
Zelenskyy renews calls for lasting peace
IN an address posted shortly after
Wall Street falls in manic
Tuesday’s talks ended, Zelenskyy reiterated Ukraine’s commitment to a lasting peace, emphasizing that the country has sought an end to the war since its outset.
“Our position is absolutely clear: Ukraine has strived for peace from the very first second of this war, and we want to do everything possible to achieve it as soon as possible—securely and in a way that ensures war does not return,” Zelenskyy said.
Ukrainian presidential aide Andriy Yermak, who led the Ukrainian delegation, described the negotiations as positive. He said the two countries “share the same vision, and that we are moving in the same direction toward the just peace long awaited by all Ukrainians.”
In Kyiv, Lena Herasymenko, a psychologist, accepts that compromises will be necessary to end the war, but she said they must be “reasonable.”
“We had massive losses during this war, and we don’t know yet how much more we’ll have,” she told The Associated Press. “We are suffering every day. Our kids are suffering, and we don’t know how the future generation will be affected.”
Oleksandr, a Ukrainian soldier who could give only his first name because of security restrictions, warned that Ukraine cannot let down its guard.
“If there is a ceasefire, it would only give Russia time to increase its firepower, manpower, missiles and other arms. Then they would attack Ukraine again,” he said.
Hawkish Russians push back against a ceasefire IN Moscow, hawkish politicians and military bloggers spoke strongly against a prospective ceasefire, arguing that it would play into Kyiv’s
day after briefly
dropping more than 10% below its record
By Stan Choe Ap Business Writer
NEW
YORK — The US stock market fell further Tuesday following President Donald Trump’s latest escalation in his trade war, briefly pulling Wall Street 10 percent below its record set last month. And like it’s been for most of the past few weeks, the market’s slide on Tuesday was erratic and dizzying.
The S&P 500 fell 0.8 percent, but only after careening between a modest gain and a tumble of 1.5 percent. The main measure of Wall Street’s health finished 9.3 percent below its all-time high after flirting with the 10 percent threshold that professional investors call a “correction.”
Other indexes likewise swung sharply through the day. The Dow Jones Industrial Average lost 478 points, or 1.1 percent, and the Nasdaq composite ended up slipping 0.2 percent.
Such head-spinning moves are becoming routine in what’s been a scary ride for investors as Trump tries to remake the country and world through tariffs and other policies. Stocks have been heaving mostly lower on uncertainty about how much pain Trump is willing for the economy to endure in order to get what he wants. And moves by Trump and comments by
Pope. . .
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rehabilitation he will likely need.
Dr. Carmelo D’Asero, an infectious diseases specialist and expert in geriatric diseases, said Francis was clearly making slow
his White House on Tuesday didn’t clarify much.
Stocks began tumbling in the morning after Trump said he would double planned tariff increases on steel and aluminum coming from Canada. The president said it was a response to moves a Canadian province made after Trump began threatening tariffs on one of the United States’ most important trading partners.
Trump has acknowledged the economy could feel some “disturbance” because of the tariffs he’s pushing. Asked on Tuesday just how much pain Trump would be willing for the economy and stock market to take, White House press secretary Karoline Leavitt declined to give an exact answer. But she said earlier in the press briefing that “the president will look out for Wall Street and for Main Street.”
For his part, Trump said earlier on social media, “The only thing that makes sense is for Canada to become our cherished Fifty First State. This would make all Tariffs, and everything else, totally disappear.”
Stocks pared their losses later in the day, even briefly eliminating them altogether, after Ontario’s premier said he had agreed to remove the surcharge on electricity that had enraged Trump so much. Trump would afterward say that he would “probably” return the steel and aluminum tariffs on
and gradual progress, but still had not recovered fully. He said it remains to be seen how and when he can return to the Vatican, and whether he will need supplemental oxygen to breathe going forward.
Canada to 25 percent.
After that brief perk higher, though, stocks would go on to slide again into the end of trading.
Tuesday’s swings followed more warning signals flashing about the economy as Trump’s on -and- off -again rollout of tariffs creates confusion and pessimism for US households and businesses.
Such tariffs can hurt the economy directly by raising prices for US consumers and gumming up global trade. But even if they end up being milder than feared, all the whipsaw moves could create so much uncertainty that US companies and consumers freeze, which would sap energy from the economy.
Delta Air Lines’ stock lost 7.3 percent after it said it’s already seeing a change in confidence among customers, which is affecting demand for close-in bookings for its flights. That pushed the airline to roughly halve its forecast for revenue growth in the first three months of 2025, down to a range of 3 percent to 4 percent from a range of 7 percent to 9 percent.
Southwest Airlines also cut its forecast for an important underlying revenue trend, and it pointed specifically to less government travel, among other reasons, including wildfires in California and “softness in bookings and demand trends
hands and damage Moscow’s interests at a time when the Russian military has the advantage.
“A ceasefire isn’t what we need,” wrote hardline ideologue Alexander Dugin.
Viktor Sobolev, a retired general who is a member of the Russian parliament’s lower house, warned that a 30-day truce would allow Ukraine to beef up arms supplies and regroup its troops before resuming hostilities.
Sergei Markov, a pro-Kremlin political commentator, suggested that Moscow could demand a halt on Western arms supplies to Ukraine as part of a ceasefire. “An embargo on arms supplies to Ukraine could be a condition for a truce,” he wrote.
The Kremlin sticks to its conditions for peace RUSSIA has not publicly offered any concessions. Putin has repeatedly declared that Moscow wants a comprehensive settlement, not a temporary truce.
Russia has said it’s ready to cease hostilities on the condition that Ukraine drops its bid to join NATO and recognizes regions that Moscow occupies as Russian. Russia has captured nearly a fifth of Ukraine’s territory.
Russian forces have held the battlefield momentum for more than a year, though at a high cost in infantry and armor, and are pushing at selected points along the 1,000-kilometer (600-mile) front line, especially in the eastern Donetsk region.
Ukraine has invested heavily in developing its arms industry, especially high-tech drones that have reached deep into Russia.
The Associated Press writers Baraa Anwer in Jeddah, Saudi Arabia; Hanna Arhirova and Dmytro Zhyhinas in Kyiv, Ukraine; and Aamer Madhani in Washington contributed to this report.
as the macro environment has weakened.”
Its stock nevertheless rallied 8.3 percent after the airline said it would soon begin charging some passengers to check bags, among other announcements.
Oracle dropped 3.1 percent after the technology giant reported profit and revenue for the latest quarter that fell short of analysts’ expectations.
Helping to keep the market in check were several Big Tech stocks, which steadied a bit after getting walloped in recent months. Elon Musk’s Tesla rose 3.8 percent, for example, after Trump said he would buy a Tesla in a show of support for “Elon’s ‘baby.’”
Tesla’s sales and brand have been under pressure as Musk has led efforts in Washington to cut spending by the federal government. Tesla’s stock is down 42.9 percent for the young year so far.
Other Big Tech superstars, which had led the market to record after record in recent years, also held a bit firmer. Nvidia added 1.7 percent to trim its loss for the year so far to 19 percent. It’s struggled as the market’s sell-off has particularly hit stocks seen as getting too expensive in Wall Street’s frenzy around artificialintelligence technology.
Because Nvidia, Tesla and other Big Tech stocks have grown so massive in size, their movements carry much more weight on the S&P 500 and other indexes than any other company.
AP Business Writers Yuri Kageyama and Matt Ott contributed.
Trump threatens to double Canada’s steel and aluminum tariffs; backs down after Ontario suspends electricity fees
By Josh Boak, Rob Gillies & Michelle L. Price The Associated Press
WASHINGTON—President Donald Trump’s threat Tuesday to double his planned tariffs on steel and aluminum from 25 percent to 50 percent for Canada led the provincial government of Ontario to suspend its planned surcharges on electricity sold to the United States.
As a result, White House trade adviser Peter Navarro said the US president pulled back on his doubling of steel and aluminum tariffs, even as the federal government still plans to place a 25 percent tariff on all steel and aluminum imports starting Wednesday.
The drama delivered a win for Trump but also amplified concerns about tariffs that have roiled the stock market and stirred recession risks. Tuesday’s escalation and cooling in the ongoing trade war between the United States and Canada only compounded the rising sense of uncertainty of how Trump’s tariff hikes will affect the economies of both countries.
Trump shocked markets Tuesday morning, saying the increase of the tariffs set to take effect Wednesday was a response to the 25 percent price hike that Ontario put on electricity sold to the United States.
“I have instructed my Secretary of Commerce to add an ADDITIONAL 25 percent Tariff, to 50 percent, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD,” Trump posted on Truth Social.
Ontario Premier Doug Ford said Tuesday afternoon that US Commerce Secretary Howard Lutnick called him and Ford agreed to remove the surcharge. He said he was confident that the US president would also stand down on his own plans for 50 percent tariffs on Canadian steel and aluminum.
“He has to bounce it off the president but I’m pretty confident he will pull back,” Ford said on Trump’s steel and aluminum tariff threat. “By no means are we just going to roll over. What we are going to do is have a constructive conversation.”
After a brutal stock market selloff Monday and further jitters Tuesday, Trump faces increased pressure to show he has a solid plan to grow the economy. So far, the president is doubling down on tariffs and can point to Tuesday’s drama as evidence that taxes on imports are a valuable negotiating tool, even if they can generate turmoil in the stock market.
Trump suggested Tuesday that tariffs were critical for changing the US economy, regardless of stock market gyrations.
The US president has given a variety of explanations for his antagonism of Canada. He has said that his separate 25 percent tariffs on all imports from Canada, some of which are suspended for a month, are about fentanyl smuggling and objections to Canada putting high taxes on dairy imports that penalize US farmers. He also continued to call for Canada to become part of the United States, which has infuriated Canadian leaders.
“The only thing that makes sense is for Canada to become our cherished Fifty First State,” Trump posted Tuesday. “This would make all Tariffs, and everything else, totally disappear.”
Tensions between the United States and Canada
INCOMING Canadian Prime Minister Mark Carney said his government will keep tariffs in place until Americans show respect and commit to free trade after Trump threatened historic financial devastation for his country.
Carney, who will be sworn in as Justin Trudeau’s replacement in coming days, said Trump’s latest tariffs are an attack on Canadian workers, families and businesses.
“My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade,” Carney said in a statement. Canadian officials are planning
retaliatory tariffs in response to Trump’s specific steel and aluminum tariffs. Those are expected to be announced Wednesday. Carney was referring to an initial $30 billion Canadian (US$21 billion) worth of retaliatory tariffs that have been applied on items like American orange juice, peanut butter, coffee, appliances, footwear, cosmetics, motorcycles and certain pulp and paper products.
Trump also has targeted Mexico with 25 percent tariffs because of his dissatisfaction over drug trafficking and illegal immigration, though he suspended the taxes on imports that are compliant with the 2020 USMCA trade pact for one month. Asked if Mexico feared it could face the same 50 percent tariffs on steel and aluminum as Canada, President Claudia Sheinbaum, said, “No, we are respectful.” Trump participated in a question and answer session Tuesday afternoon with the Business Roundtable, a trade association of CEOs that he wooed during the 2024 campaign with the promise of lower corporate tax rates for domestic manufacturers. But his tariffs on Canada, Mexico and China—with plans for more to possibly come on Europe, Brazil, South Korea, pharmaceutical drugs, copper, lumber and computer chips— would amount to a massive tax hike.
The stock market’s vote of no confidence over the past two weeks puts the president in a bind between his enthusiasm for taxing imports and his brand as a politician who understands business based on his own experiences in real estate, media and marketing.
“The tariffs are having a tremendously positive impact—they will have, and they are having.” Trump told the gathering of CEOs, saying the import taxes would cause more factories to relocate to the United States. Worries about a recession are growing HARVARD University economist Larry Summers, President Bill Clinton’s treasury secretary, has put the odds of a recession at 50-50. The investment bank Goldman Sachs revised down its growth forecast for this year to 1.7 percent from 2.2 percent previously. It modestly increased its recession probability to 20 percent “because the White House has the option to pull back policy changes if downside risks begin to look more serious.” Trump has tried to assure the public that his tariffs would cause a bit of a “transition” to the economy, with the taxes prodding more companies to begin the yearslong process of relocating factories to the United States to avoid the tariffs. But he set off alarms in an interview broadcast Sunday in which he didn’t rule out a possible recession.
The stock market slide continues THE promise of great things ahead did not eliminate anxiety, with the S&P 500 stock index tumbling 2.7 percent on Monday in an unmistakable Trump slump that has erased the market gains that greeted his victory in November 2024. The S&P 500 index fell roughly 0.8 percent on Tuesday, paring some of the earlier losses after Ontario backed down on electricity surcharges. The Dow Jones Industrial Average lost 478 points, and the Nasdaq composite slipped 0.2 percent.
Trump has long relied on the stock market as an economic and political gauge to follow, only to look past it as he remains determined so far to impose tariffs. When he won the election last year, he proclaimed that he wanted his term to be considered to have started Nov. 6, 2024, on Election Day, rather than his Jan. 20, 2025, inauguration, so that he could be credited for postelection stock market gains. Trump also repeatedly warned of an economic freefall if he lost the election.
“If I don’t win you will have a 1929 style depression. Enjoy it,” Trump said at an August rally in Pennsylvania.
The Associated Press writer Fabiola Sanchez contributed to this report from Mexico City. Gillies reported from Toronto.
“We are entering a warm seasons, which is surely good for those who suffer of respiratory diseases,” he said. “I think he will go back to work, but with smaller
“We must not forget that he has been hospitalized for one month,” said D’Asero, who is not involved in Francis’ care. He noted that the arrival of spring in Rome should help. Francis’ bronchitis typically flares during the winter months.
workloads and with a constantly monitored oxygen therapy.” Francis, who has chronic lung disease, is still using supplemental oxygen during the day and a ventilation mask at night to help him breathe.
The Vatican said Francis resumed physical and respiratory physiotherapy Tuesday, and followed the Vatican’s weeklong spiritual retreat via videoconference for a third day.
“It really makes me happy, because we were sad as it looked like he was not recovering,” said Sister Maria Letizia Salazar, a nun who was praying for Francis on Tuesday outside the Gemelli hospital.
“But now that I’ve got this news I am very happy.” This week also counts some important anniversaries for Francis: Tuesday is the 67th anniversary of his entry into the Jesuit religious order’s novitiate, and Thursday marks the 12th anniversary of his election as pope.
PHL to export more sugar to US under TRQ
30 deadline.
TBy Ada Pelonia @adapelonia
HE Philippines will export 66,000 metric tons (MT) of raw sugar to fulfill the allocation it received from the United States under the tariff rate quota (TRQ) scheme.
The volume for shipment is higher than the 24,179 MT exported by Philippine producers to the US last year.
part of the TRQ allocation.
“Eligible participants of [SO 2] having already voluntarily purchased at a premium locally produced farmers’ share sugar, have again expressed their willingness to help the government fulfill its allocation under the 2025 US sugar quota despite the lower return therefore and the additional cost and uncertainty inherent to the exportation of sugar,” the latest SO read.
145,235 metric tons raw value (MTRV) of raw cane sugar under the TRQ system for fiscal year 2025, which started on October 1, 2024.
The Philippines got the third largest TRQ allocation after the Dominican Republic at 189,343 MTRV and Brazil at 155,993 MTRV. The TRQ scheme allows countries to ship certain products to the US at a relatively low tariff.
Under the order, eligible participants would be given priority in future import programs at a ratio of 1 (raw sugar exported):2.5 (imported refined sugar).
Azcona said the glut in sugar supply in the first quarter pulled down farmgate prices.
Last month, the SRA said it is hopeful that the country will be able to produce 1.78 million metric tons (MMT) of raw sugar in the current crop year despite the decline in sugar content.
The voluntary purchase program stipulates that a portion of the 120,000 MT raw sugar purchased at a premium would be exported to the US as
Under Sugar Order (SO) 5, a copy of which was obtained by reporters, the board of the Sugar Regulatory Administration (SRA) has approved the outbound shipment of the sweetener, which is tied to the agency’s voluntary purchase program.
The export program would be open to qualified participants that availed of the 120,000 MT under the agency’s voluntary purchase program.
Last year, the US Trade Representative (USTR) announced that the Philippines was given an allocation of
‘Rice production growth will continue to outpace demand’
THE country’s paddy rice output will recover this year on the back of improved weather conditions and the extended rice competitiveness program, according to a research firm.
BMI, a unit of Fitch Solutions, projects that the Philippines’s rice production will pick up in the 2025/26 season due to “better weather conditions” and the extended Rice Competitiveness Enhancement Fund (RCEF)
until 2031.
The international research firm noted that the mild La Niña weather pattern would dissipate between March and May 2025.
“This is usually associated with above-average rainfall in the Philippines and is therefore an upside risk for production in the country,” BMI said in its latest report.
Furthermore, it noted the amended Rice Tariffication Law (RTL), which increased
the Rice Competitiveness Enhancement Fund (RCEF) to P30 billion, would be an “upside risk” for production.
The increased funding would be earmarked for bolstering access to rice farm machinery and equipment, seed propagation, training of farmers, expanding credit assistance, and improving pest and disease management.
“We believe this is an upside risk for production in the upcoming season and in the medium term, but we flag that the previous 6 years of RCEF were unable to significantly increase domestic rice harvests.”
‘Structural challenges’
MEANWHILE , BMI said structural challenges, such as limited availability of arable land, exposure to typhoons, and a growing population, would continue to weigh on the country’s rice selfsufficiency.
The research firm said self-sufficiency for rice has declined over the past decade to 69.7 percent in 2024/25
The SO indicated that the raw sugar should be shipped out of the Philippines not later than August 15, 2025.
SRA Administrator Pablo Luis Azcona said the government at exporting sugar as soon as possible to ensure that the shipment would arrive in condition before the September
from 91.6 percent in 2014/15 “due to limited growth in production combined with strong growth in consumption.”
Furthermore, the BMI said its forecast for the fiveyear average annual growth rate for rice consumption up to 2024/25 is 3.6 percent, which pales in comparison to the 0.2 percent it projected for production.
“Through our forecast period between 2025/26 and 2028/29, we expect the average annual growth rate for production to be 2.0 percent, while for consumption we expect this to be 2.5 percent.”
“The challenges faced by the sector are also reflected in a growing production deficit, which was 1.4 MMT in 2014/15 and we forecast this to increase to 3.5 MMT in 2024/25 and expand to 6.1 MMT in 2028/29.”
The country’s palay output stood at 19.09 million metric tons (MMT) in 2024, which fell short of the government’s 19.3 MMT target and was 4.85 percent lower than the record harvest of 20.06 MMT in 2023.
Despite this, the Department of Agriculture is expecting palay harvest to breach the 20 MMT-mark again this year at 20.46 MMT.
Ada Pelonia
“So, to create a need and a demand and to stabilize the price, we export and then once we have a [supply gap], we import when harvest is done to replenish the export,” he said in a previous interview.
“We are thinking of a total import [volume] for the export replenishment of about 165,000 MT of refined sugar. So, [the exporters] can make up for the difference in cost.”
Data from the SRA showed that as of February 16, sugarcane production reached 13.07 MMT, 18.16 percent lower than the 15.98 MMT recorded in the previous year. Despite this, the decline in sugarcane milled was smaller compared to the 27.75-percent drop last January 12. However, yield for sugarcane shrank by 11 percent to an average of 1.58 LKGTC (50-kilo bag per ton of cane) from 1.78 LKGTC a year earlier, based on SRA data.
Govt keen on JICA loan to support NFA operations
THE Department of Agriculture (DA) has set its sights on securing a loan from the Japan International Cooperation Agency (JICA) to build more postharvest facilities.
Agriculture Assistant Secretary Arnel de Mesa said the DA is in talks with the Japanese agency, with funding for the project ranging from $200 to $500 million “depending on the negotiations.”
“We’re discussing the details of the project,” De Mesa told reporters in Filipino on Wednesday.
The project will cover postharvest facilities like dryers and rice mills to support the National Food Authority’s (NFA) procurement operations and the farmer cooperatives and associations (FCAs).
The DA official noted that the project would help the grains agency given its new buffer stock requirement of 15 days as stipulated under the amended Rice Tariffication Law (RTL).
“Aside from NFA, we also want to support our rice cooperatives and associations partners in boosting their output."
He noted that the project, which could start as early as 2026, would be placed throughout the country, particularly in rice-producing regions.
Modernization
MEANWHILE, the NFA is ramping up its efforts to expand the agency’s storage and processing capacity.
The grains agency said it would
allot P10 billion for the program, half of which would be earmarked for the repair existing warehouses to preserve the quality of palay and rice as well as add 800,000 metric tons (MT) of storage capacity by next year.
“This expanded capacity will help us address the current issue where our warehouse space is almost full,” NFA Administrator Larry Lacson said in a statement.
The NFA said while its current storage capacity stands at 1 million metric tons (MMT), varying rice stock quality and age often hinder full utilization.
Furthermore, the remaining P5 billion for rice mills, dryers, and silos would focus on improving processing efficiency, increasing rice recovery rates, and enhancing farmers’ livelihoods. With the new drying facilities, the NFA said farmers could sell palay with a 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.”
This would prevent traders from potentially manipulating moisture levels in palay to drive down prices, Lacson added. This year, the NFA is targeting to procure as much as 880,000 MT of palay to meet its new buffer stock requirement. Ada Pelonia
US inflation seen elevated in February, with higher food prices
ECONOMISTS forecast that US inflation probably stayed elevated last month after a large increase in January, adding to evidence that progress on taming prices has stalled. The consumer price index is seen advancing 0.3 percent in February after a 0.5% gain at the start of the year. A core measure that excludes the volatile food and energy categories is also expected to increase 0.3 percent, according to the median forecast in a Bloomberg survey of economists.
Another firm reading, likely driven by gains in prices of goods including food, would further fuel concerns that inflation is staying high while growth is slowing — the dreaded stagflation. Uncertainty about the economic toll from President Donald Trump’s trade wars has tanked stock markets this week.
“It feels that this could be a lose-lose situation,” said Julien Lafargue, chief market strategist at Barclays Private Bank. “A
higher-than-expected reading could fuel the stagflation narrative while a weaker-thanexpected print could cement recession fears.”
Food prices
GROCERY prices have risen substantially in recent months, mostly on record-high egg prices due to the spread of bird flu in the country. Other basic items including meat, fruits and sugar also advanced at a stubborn pace at the start of the year. Some economists expect that trend to hold in Wednesday’s report. “Egg prices continued increasing in February, and wholesale food prices keep increasing at higher speed,” Morgan Stanley economists led by Diego Anzoategui wrote last week, adding that they expect grocery inflation to stay above the pre-pandemic trend at least through the summer.
Services costs
A METRIC of services costs
closely tracked by the Fed is expected to show some reprieve after jumping by the most in a year in January. The so-called supercore services measure — which excludes housing and energy — is seen decelerating on cheaper airfares and medical costs.
Anna Wong from Bloomberg Economics said the February data will reflect a divergence between softer demand for services like hotels and travel and higher goods prices.
“While softer services prices –reflecting weakening consumer demand for discretionary items – move the dial in the right direction, disinflation in goods sectors was already stalling even before President Donald Trump’s tariffs,” she wrote in a note.
Economists will also be closely tracking housing costs, which remain one of the most stubborn categories within the CPI. Citigroup Inc. economists Veronica Clark and Andrew Hollenhorst see a 0.27 percent
monthly advance in shelter prices, a deceleration from January.
Many economists noted that firms tend to raise prices and fees during the first quarter and that could boost the CPI index, although companies are more likely to do it in January than later in the quarter.
A SHOPPER in the meat department at a grocery store in New York, US, on Wednesday, February 12, 2025.
Early tariff impact?
SOME economists expect the February report to show the first signs of the impact from tariffs, specifically the additional levies on imports from China.
“One driver of our firm inflation forecast is the additional 10-percent tariff on imports from China enacted in early February,”
Bank of America Corp. economists Stephen Juneau and Jeseo Park wrote on March 7.
“China represents a large share of imports for household furnishings, apparel, and electronics,” they said. “If tariffs do not affect this month, it just means that the impact is delayed to future months.” Bloomberg News
PHOTO BY NONIE REYES
BLOOMBERG
The sacrificing Pinay: A study on family, finance, and female empowerment
ARECENT study by Sun Life Financial Asia Services Ltd. shines a light on the complex financial lives of Filipino women. The research, encompassing over 3,000 women across Southeast Asia, reveals a compelling narrative of financial empowerment intertwined with deep-rooted familial devotion. While a majority (60 percent) of Pinays feel more financially secure than their mothers were at the same age, this progress is often tempered by a strong “family first” mentality that leads to personal financial sacrifices. (Read the BusinessMirror story: “Family first’ rules Pinays” financial trek—study, March 10, 2025).
The study highlights the remarkable dedication of Filipinas to their families. A staggering 80 percent of Filipina primary earners prioritize their family’s needs above their own, and 70 percent routinely put their family’s financial needs first. This often translates into foregoing personal medical treatment (80 percent) and contributing to the elderly care of their parents (52 percent), with a significant portion (29 percent) finding this a considerable financial burden. This multi-generational responsibility creates stress for many mothers (36 percent) who are juggling the financial needs of both their children and their aging parents.
It is truly admirable how Pinays are willing to sacrifice their personal needs for their families. However, this level of selflessness can also create vulnerabilities. The study reveals a concerning lack of confidence in financial knowledge and awareness of investment opportunities among Filipinas, with 71 percent rating their knowledge as basic or beginner-level. This, coupled with barriers like debt (53 percent) and limited investment opportunities (44%), hinders their ability to achieve true financial security. While their top goals include saving for their children’s education (57 percent), teaching financial literacy (49 percent), and creating emergency funds (47 percent), many lack the tools and knowledge to effectively achieve these goals.
This situation calls for a multi-pronged approach. First, financial literacy programs specifically tailored for women are crucial. These programs should address not only basic financial concepts but also investment strategies and debt management. Second, accessible and affordable investment opportunities need to be made available. The government and financial institutions should work together to create products that cater to the specific needs and financial realities of Filipinas. Third, and perhaps most importantly, there needs to be a cultural shift that encourages women to prioritize their own financial wellbeing alongside their family’s. It’s not about abandoning their families; it’s about creating a sustainable financial future for themselves, which, in turn, benefits their families in the long run.
A comprehensive financial plan can help Pinays navigate unforeseen risks, manage their finances effectively, and achieve both their personal and family financial goals. Insurance products, such as healthcare, life, and critical illness coverage, also play a vital role in protecting against unexpected events.
The increasing insurance penetration in the country is a positive sign, but more needs to be done to reach Filipino women. Financial institutions need to actively engage with women, understand their unique challenges, and provide them with the support and resources they need to achieve financial independence and security.
Filipino women are the backbone of many families and communities. By empowering them financially, we not only improve their lives but also strengthen the entire nation.
‘Raging Lion, Steady Bull, Hobbling Carabao’
HJohn Mangun
OUTSIDE THE BOX
ERE is a reality check that stings. In 2024, the Stock Exchange of Thailand (SET) delivered 32 equity Initial Public Offerings that raised US$808 million. The Indonesia Stock Exchange (IDX) hosted 41 IPOs raising $2.9 billion. The Philippine Stock Exchange (PSE) barely managed 3 IPOs and US$207 million. Not a contest. Just a crushing defeat.
Thailand and Indonesia dominate their markets with policies and fire, while the PSE staggers like a three-legged carabao. Thailand’s diverse stock exchange spans manufacturing and technology, throws tax breaks and opens doors to small firms and charges ahead with investor hunger. Indonesia leverages market leaders across sectors, streamlines regulations with government muscle, and rides on 10 million retail players. The Philippines, small, conglomerate-clogged, chokes on stiff rules and lacks the determination to conquer.
Winners win: losers whine. “The year was challenging for the bourse, citing high interest rates early in 2024 and the stock market’s resulting volatility as among the deterrents for IPO candidates”. And “We
T. Anthony C. Cabangon
Lourdes M.
Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan
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don’t look at number of IPOs, but amount of capital raised.” US$207 million is not a boast—it is a bust.
Thailand can boast because the stock market spreads the IPO wealth. Manufacturing, technology, tourism, and consumer goods fuel a diverse machine. The SET divides the effort between its main board and the Market for Alternative Investment (MAI), a platform where small and medium enterprises with just US$1.5 million in paid-up capital can list.
The IDX powers its IPOs with a sprawling corporate landscape. Mining, energy, manufacturing, and startups fill the exchange with players from micro-firms to behemoths.
The PSE fades to nothing where giant conglomerates dominate, which prefer bank loans or quiet
A foreign analyst nails it: “The PSE can’t stop insider trading or fix weak governance and regulatory oversight. These issues suggest a market influenced by elite interests failing to prioritize retail investor protection.” That is an over-simplification and maybe even unfair. But so what. Perception is reality.
share sales over IPOs, true also for not-so-giant companies. The PSE offers a small-business board, but it is a bar on a dead-end street. Few show up.
Here is a little secret. Filipino companies that want to go public must have honest, verifiable – wait for it – tax returns. Much easier to list on the Binondo or Peninsula Hotel Stock Exchange. Does three IPOs worth US$207 million reflect a system that repels rather than recruits?
Liquidity tells the story of investor hunger. Here are the 2024 approximate average daily value volumes. Thailand blazes at daily turnover of US$2 billion. With over 10 million retail investors, the IDX trades US$650 million. The PSE chokes to reach US$90 million.
The SET is a raging lion, big and bold, outpacing with both diversity and liquidity. It is the trader’s playground. The steady bull, strong and
retail-rooted, is the IDX. It is not as frenetic as SET but meaty enough to absorb virtually any investment size going in or out. We in the Philippines live with “The Hobbling Carabao,” slow, small, and stuck, crippled by caution and conglomerate shadows. It is a whisper in the region’s roar. Thailand and Indonesia play to win. The Philippines barely shows up. So, what’s the problem?
Maybe it is political stability. Except Thailand’s last 25 years saw two successful coups in 2006 and 2014. Protests flared by the Yellow Shirts and the Red Shirts, Anti-Yingluck, and youth-led movement demanding reforms, were all crushed by military dominance, arrests, and deadly crackdowns.
Maybe it is economic growth. Indonesia’s economic growth climbed from 3.7 percent in 2021 to 5.3 percent in 2022, then eased to 5.0 percent in 2023 and 2024. The Philippines outgunned it every year. But this is the killer blow for growth and inflation. In 2024, Indonesia imported 47 percent of its oil consumption, while the Philippines imported 93 percent and Thailand imported 78 percent. There is nothing we can do about that. Solution? Both other exchanges recognize that increasing public participation is foundational to boosting trading value, market depth, and liquidity. The SET’s
US lambasts Japan’s ‘700% rice tariff,’ hinting at levy target
By Sakura Murakami
PRESIDENT Donald Trump’s administration hit out at Japan’s elevated rice tariffs, signaling that the grain and Tokyo will likely be targeted as the US seeks to apply reciprocal tariffs in the coming weeks.
“Look at Japan, tariffing rice 700%,” US Press Secretary Karoline Leavitt said Tuesday during a press conference. She pointed to a chart that appeared to list tariff percentages from countries including India and the EU. The chart also showed the tariff rates Japan applies on beef and dairy imports from the US.
“President Trump believes in reciprocity,” Leavitt said during the press conference largely focused on accusations that Canada applies unfair tariffs on US goods. “All he’s asking for at the end of the day are fair and balanced trade practices.”
The criticism comes with extra tariffs on steel and aluminum set to come into effect later in the day as
Trump forges ahead with a strategy aimed at winning concessions from US trading partners and correcting perceived unfair practices. The US is also lining up reciprocal tariffs and a proposed 25 percent tariff on foreign car imports from April 2. Japan and some other key US trading partners have sent officials to Washington to seek ways to avoid becoming direct targets of the Trump administration’s use of tariffs. Japan’s Trade Minister Yoji Muto concluded his talks with Commerce Secretary Howard Lutnick earlier this week in a failed bid to secure a reprieve from his US counterparts.
“We will refrain from commenting on each and every remark made
The criticism comes with extra tariffs on steel and aluminum set to come into effect later in the day as Trump forges ahead with a strategy aimed at winning concessions from US trading partners and correcting perceived unfair practices. The US is also lining up reciprocal tariffs and a proposed 25% tariff on foreign car imports from April 2.
by US officials. We will continue to communicate with our US counterparts,” Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said at a press briefing on Wednesday when asked about Leavitt’s comments. Japan currently doesn’t apply tariffs to rice that is imported through a state-managed trading mechanism. The amount of rice bought through that mechanism is capped at 770 thousand tons. A levy of ¥341 ($2.3031) per kilogram is applied to
rice imported through non-governmental trade. According to data from the Finance Ministry, Japan imported 675 thousand tons of rice through the government mechanism and 773 tons of rice through private trade in fiscal 2022. The 700% tariff figure is not one officially released by Japan’s government, an Agriculture Ministry official told Bloomberg. He added that the government does not release tariff rates as percentages. A government document dated 2015 put tariff rates for excess rice imports at 778 percent, with a footnote saying the figure was calculated based on rice prices between 1999-2001. Japan’s tariffs on US rice are about 204 percent, according to Kenichi Kawasaki, a professor at the National Graduate Institute for Policy Studies who has researched the nation’s levies. With assistance from Yoshiaki Nohara and Takashi Hirokawa/Bloomberg See “Mangun”
In his own words: Pope Francis has long been up front about his health problems and eventual death
By Nicole Winfield | The Associated Press
ROME—Pope Francis has written and spoken at length about sickness, aging and death, and personally directed that his doctors provide the fairly detailed daily updates that have punctuated his own battle with pneumonia.
On Monday, they reported good news: Francis was no longer in imminent danger of death but needed to remain hospitalized for several more days to receive treatment.
The 88-year-old pope is merely responding to the sometimes morbid interest in the health of popes over centuries, and is making his own the somewhat-mixed legacy of St. John Paul II. The Polish pope suffered from Parkinson’s disease, and his decline was on public view for years. But the Vatican never admitted he had the disease until after he was dead.
Francis’ candor with his own fragility is very much in keeping with a decision he made early on in his papacy to be up front about his health: He granted an unprecedented tell-all interview to an Argentine doctor who published a book in 2021 detailing Francis’ physical and mental health history. And last week, Francis recorded an audio message from the hospital that laid bare the weakness of his voice, and the labored, breathless effort it took for him to utter just a few words.
Here are a few of Francis’ past musings on sickness, ageing and death and how they might affect the future of his pontificate.
On growing old:
FRANCIS has long complained about the way society treats old people, saying they are part of today’s consumerist “throwaway culture” when they are deemed no longer productive. For that reason especially, he insisted that Pope Benedict XVI continue to be part of the life of the church during his 10-year retirement.
Francis’ views on ageing have been consistent, even as he himself has aged and become dependent on a wheelchair and walker to get around.
In the 2010 book “On Heaven and Earth,” written alongside his friend the Argentine Rabbi Abraham Skorka, Francis denounced the cruelty that confronts elderly people. He shamed families who shut their grandparents away in nursing homes and neglect to visit them.
“The elderly are sources of the transmission of history, the people who give us memories, they are the memory of the people, of a nation, of the family and of the culture, religion,” said Francis, who at the time was the archbishop of Buenos Aires.
On death in general:
IN the same book, then-Cardinal Jorge Mario Bergoglio recalled that his grandmother Rosa, who helped raise him, had the words of an adage framed on her bedside table that stayed with him all his life: “See that God sees you, see that he is watching you, see that you will die and you don’t know when.”
He referred to the saying again in 2018 in a speech to priests, and that his grandmother had instructed him to recite it every day “’so you will remember that life has an end.’”
“I didn’t understand much at the time, but that verse, since I was three years old, has stuck with me,” he told the priests. “And it helped me. The thing was kind of bleak, but it helped me.”
On his own health problems: THE Argentine journalist and physician, Dr. Nelson Castro, revealed in his 2021 book “The Health of Popes,” that Francis had reached out to him within a few months of his 2013 election with a suggestion that he write a book about the history of the health of the popes, including his own.
Citi downgrades US stocks while Wall Street set to pause selloff
By Michael Msika, Macarena Muñoz & Abhishek Vishnoi
CITIGROUP Inc. strategists downgraded their view on US stocks to neutral from overweight, saying the hegemony of US stocks is on pause, at least for now.
Francis’ candor with his own fragility is very much in keeping with a decision he made early on in his papacy to be up front about his health: He granted an unprecedented tell-all interview to an Argentine doctor who published a book in 2021 detailing Francis’ physical and mental health history. And last week, Francis recorded an audio message from the hospital that laid bare the weakness of his voice, and the labored, breathless effort it took for him to utter just a few words.
Castro was granted access to the Vatican Secret Archives to research the lives and deaths of past popes and had a sit-down interview with Francis on Feb. 19, 2019, during which the reigning pope spoke at length and in detail about his various ailments over the years: The respiratory infection that resulted in the removal of the upper lobe of his right lung, the gangrenous gallbladder he had removed when he was provincial superior of the Jesuits, the compressed vertebrae, flat feet and fatty liver he has lived with.
The most noteworthy revelation was that Francis said he saw a psychiatrist weekly during six months of Argentina’s military dictatorship. He had sought out help to manage his anxiety when he was trying to hide people from the military and ferry them out of Argentina.
“In those six months she helped me with respect to how to manage the fears of that time,” he told Castro. “If you can imagine what it was like to transport someone hidden in the car—covered by a blanket—and pass through military controls.… It created an enormous tension in me.”
He said the therapy also helped him to maintain a sense of equilibrium in making decisions of all kinds, and that in general he believes all priests must understand human psychology.
“We should offer a mate to our neuroses,” he said, referring to the South American tea. “They are our companions for life.”
On his own death:
AS early as 2014 Francis was already assuming his papacy would be shortlived and that his own death was not far off.
“I realize that this is not going to last long, two or three years, and then … off to the house of the Father,” he told reporters in 2014 while traveling home from one of his early foreign trips, to South Korea.
He told Castro later that he thought about death—a lot—but that it didn’t scare him “one bit.” Francis made plans, too: He decided his tomb will be in St. Mary Major basilica, not in the Vatican, so he can be near his favorite icon of the Madonna, the Salus Populi Romani (“Salvation of the People of Rome”), which is located there.
More recently, he has taken to speaking about upcoming events that he is pretty sure he won’t be around for, and indicating who might.
In 2023, speaking to reporters about the Vatican’s warming relations with Vietnam, Francis concurred that the country warranted a papal visit.
“If I don’t go, surely John XXIV will,” he said chuckling, referring to a future pope who might be named for the progressive, Vatican II-era pontiff, John XXIII.
The neutral take on US stocks is over the next three to six months, Citi strategists including Dirk Willer wrote in a note, adding that more negative US data prints are expected. Uncertainty over tariffs and government job cuts pushed the S&P 500 into one of its worst weeks this century relative to the rest of the world last week.
“US exceptionalism is at least pausing” for the coming few months, the strategists wrote. “The news flow from the US economy is likely to undershoot the rest of the world in coming months,” they added.
Willer’s view is echoed at HSBC Holdings Plc., where strategists cut US equities to neutral on Monday, saying they see “better opportunities elsewhere for now.” Ned Davis Research strategists made a similar move last week, citing souring momentum.
The “US exceptionalism” trade has been on shaky ground this year, with international equities—like China and Europe—outperforming. On Wall Street, anxiety is growing that President Donald Trump’s policies on trade and government jobs will derail growth in the world’s largest economy.
Market forecasters at banks
including JPMorgan Chase & Co. and RBC Capital Markets have also tempered bullish calls for 2025 as Trump’s tariffs stoke fears of slowing economic growth. The S&P 500 has dropped 4.5 percent this year, and investors are questioning the lofty valuations of big technology shares.
“We are watchful for opportunistic positions should market positioning become too bearish. We don’t think we are there yet,” said Mark Richards, head of dynamic multiasset at BNP Paribas Asset Management. “The large factor unwinds have bled into higher cross-asset volatility, but we have yet to see enough stress in positioning indicators or option markets.”
US equities were set for a slight rebound on Tuesday after concerns about the economic outlook fueled a stock meltdown, with strategists rushing to review their outlook on the market.
Contracts on the Nasdaq 100 rose 0.2 percent at 8:31 a.m. in New York after the underlying benchmark slid the most since October 2022. S&P 500 futures gained 0.1 percent after the key index dropped 2.7 percent and closed below the key 200-day moving average for the first time since November 2023.
The “US exceptionalism” trade has been on shaky ground this year, with international equities—like China and Europe— outperforming. On Wall Street, anxiety is growing that President Donald Trump’s policies on trade and government jobs will derail growth in the world’s largest economy.
The tech-heavy Nasdaq 100 has slumped into a correction, falling 12% from its February peak as investors dumped the sector that propelled the stock market over the past two years. The index is now the most oversold since 2022 and has broken below its 200-day moving average. But that threshold has not proved a sure sign of a recovery in the past.
Morgan Stanley’s Michael Wilson warned of a volatile path ahead as the market continues to contemplate growth risks, which could get worse before they get better.
The US government has said that the economy faces a “transition” and is in need of a “detox,” creating uncertainty about the path for growth.
Market participants are awaiting a so-called “Trump put,” something Treasury Secretary Scott Bessent said doesn’t exist.
That’s pushing attention back to the Federal Reserve as weaker macroeconomic data continues to roll in.
Money markets are now anticipating about 80 basis points of rate cuts by
the end of 2025, up from only about 40 basis points just a month ago. There is at least one tracker of tech stocks that suggests the bout of selling may have reached a peak. Volume on the Nasdaq 100 ETF Invesco QQQ Trust Series exceeded 75 million shares on Monday, a threshold that was indicative of a bottom in the previous three occurrences over the past 20 months.
And, while investors are less optimistic about the US market, they’re not yet outright bearish.
“We are buying the dips, especially in the S&P 500, which has been punished for a few months by the uncertainty of the new administration’s measures,” said Nerea Heras, head of core funds GMAS at Santander Asset Management. “Economic data, employment and business investment continue to support this economy.” Strategists at BlackRock Inc. disagree with those pricing in a potential US recession, saying the labor market remains strong and corporate earnings are holding up.
“We still think earnings strength can broaden out beyond tech and to other regions as the buildout and adoption of artificial intelligence progresses,” BlackRock Investment Institute strategists including Jean Boivin and Wei Li wrote in a note dated March 10. “While heightened policy uncertainty will drive near-term market volatility, these other drivers keep us overweight US stocks.” With assistance from Winnie Hsu, John Cheng and Henry Ren /Bloomberg
Supreme Court seems intent on taking small steps in dealing with challenges to Trump’s agenda
By Mark Sherman & Lindsay Whitehurst The Associated Press
WASHINGTON—In fewer than 500 carefully chosen and somewhat opaque words, the Supreme Court has now weighed in twice on President Donald Trump’s rapid-fire efforts to remake the federal government.
The justices did not give Trump’s administration what it sought. The court rejected the Republican administration’s position that it had the immediate power to fire the head of a watchdog office. In the other, the court slowed the effort to block the release of up to $2 billion in foreign aid.
In the end, the short-term losses for the administration may mean little, and the court’s actions arguably reflect less about whether Trump was right or wrong in either case.
Instead, they may stand for an important, but less showy, commitment to regular order from the top of a judicial system that has emerged as a key check on Trump’s power with the Republican-controlled Congress largely supportive or silent.
Jack Goldsmith, a Justice Department official during President George W. Bush’s administration, said there may be benefits for the court in taking small steps and delaying, which “brought the court advantage by achieving emergency outcomes it wanted without having to tip its hand prematurely on the merits of the cases.”
Trump’s unparalleled flex of presidential power seems destined for several dates at a Supreme Court that he helped shape with three appointees during his first term.
But even a conservative majority that has a robust view of presidential power and granted him broad immunity from criminal prosecution might balk at some of what the president wants to do.
His push to end birthright citizenship for the children of parents who are in the US illegally, for instance, would discard more than 100 years of practice and a relatively settled understanding of the 14th Amendment’s guarantee of citizenship to “all persons born or naturalized in the United States.”
Challenges to the citizenship order are among more than 100 lawsuits that have been filed, and lower-court judges have hit pause on the administration’s plans more than 30 times.
The Supreme Court’s early forays have largely not been about the substance of what the president wants to do but about the procedures used by federal judges who have the first crack at evaluating the lawfulness of the administration’s actions.
Trump allies, most notably his billionaire adviser Elon Musk, have railed at judges slowing his agenda, threatening impeachment and launching personal attacks. The Federal Judges Association, the largest such organization, issued a rare public statement decrying “irresponsible rhetoric shrouded in disinformation” that could undermine public confidence in the judiciary.
Though Trump has said he would obey the courts, Vice President JD Vance, Musk and others have suggested the administration could defy a court order, which would spark a constitutional crisis. Trump has vowed to appeal decisions he doesn’t like, something his administration has done quickly in several cases even
as some plaintiffs question whether the government is fully following judges’ orders.
“It seemed to me that they’re playing pretty fast and loose,” said Jeffrey Schmitt, a professor at the University of Dayton School of Law. “They don’t want to be seen as blatantly disrespecting the courts and refusing to follow their orders. They also don’t want to change their behavior.”
The Supreme Court, meanwhile, is getting drawn into the fray in fits and starts. That could change soon, as more lawsuits reach a stage at which they can be appealed to the high court.
“It strikes me that the court is trying to signal that the normal processes should take place,” said Kent Greenfield, a Boston College law professor who is the main author of a letter signed by roughly 1,000 scholars contending that the nation already is in a constitutional crisis as a result of Trump’s actions.
A progressive group, Court Accountability, said the court’s more recent order, in the foreign aid freeze case, may have been reported as a setback for the administration.
“But a closer look at the majority’s short order reveals that the Chief Justice actually gave Trump everything he wanted,” the group wrote on its blog, explaining that additional delays only make it harder for people and groups hurt by the freeze to recover.
Josh Blackman, a professor at the South Texas College of Law, wrote on The Volokh Conspiracy blog that the high court has ducked urgent constitutional issues it should have decided about the extent of the president’s power. Instead, he wrote, district judges “are now confident they can issue any order they wish against the executive branch, and the Supreme Court will not stop them. This is the judiciary run amok.”
But while they sparked online outrage in some quarters of the president’s base, the events of the past few days could be seen as validation for the justices’ cautious approach. On Feb. 21, a Supreme Court order temporarily kept Hampton Dellinger, the head of the Office of Special Counsel, in his job despite efforts by Trump to fire him.
In fact, the justices didn’t rule either way on the administration’s request to throw out an order in Dellinger’s favor. The high court held the matter “in abeyance,” pending further proceedings in the lower court. On Thursday, Dellinger ended his legal fight after a federal appeals court ruled against him — but not before he stalled the firing of 5,000 federal workers slated for layoffs. The Supreme Court finally acted on the administration’s request, hours after Dellinger dropped out, dismissing it as moot. The scale of the federal layoffs that the new administration wants to carry out could also put federal employment law in front of the high court. While experts say the justices appear inclined to allow the president more power to hire and fire agency heads, the outlook is less clear for civil service protections for other federal workers.
In the foreign aid freeze case, US District Judge Amir Ali narrowed his payment order to require the administration to immediately pay only those organizations that had originally filed the lawsuit. But with nearly a dozen lawsuits filed over moves to freeze federal funding abroad and at home so they can align spending with Trump’s agenda, the fight over “power of the purse” seems bound to return to the Supreme Court.
The justices have played a limited role so far, but Trump’s presidency is less than two months old.
Surge in power demand spurs
NGCP plea to stakeholders
By Lenie Lectura
THENational Grid Corporation of the Philippines (NGCP) strongly appealed to power industry stakeholders to strictly monitor and ensure the availability of power in the coming months, following a surge in demand due to exceptionally high heat indices in recent days and unplanned outages of critical power plants.
The grid operator recorded last March 6 the highest peak demand for the year at 12,467 megawatts (MW), a 5-percent increase from the Department of Energy’s (DOE) forecast demand of 11,870 MW for that day. For 2025, the DOE forecasted a peak of 14,769 MW for Luzon to occur mid-May, a 5.37-percent increase from the 2024 actual peak of 14,016 MW on April 24, 2024.
Last March 5, hot weather conditions caused a spike in demand, prompting the NGCP to issue a yel-
Duterte’s
low alert.
A yellow alert is issued when the operating margin is insufficient to meet generation’s contingency requirement, putting the grid at risk with the available contingency reserve less than the required operating margin. A red alert status is issued when power supply is insufficient to meet consumer demand and the grid’s contingency requirement.
As in the past years, NGCP cautioned the public that while power
children
ask SC to order his return; court nixes TRO plea on arrest
By Joel R. San Juan @jrsanjuan1573
TWO petitions for habeas corpus were filed on Wednesday before the Supreme Court, seeking to bring former President Rodrigo Duterte back to the country after he was turned over by the government to the International Criminal Court (ICC) to stand trial for crimes against humanity in connection with his bloody anti-illegal drug war campaign. Also on Wednesday, the SC declined to issue a temporary restraining order (TRO), as sought by Duterte’s lawyers earlier, to stop the government from arresting and turning him over to ICC agents.
The petitions were filed separately by Duterte’s son Davao City Mayor Sebastian Duterte and daughter Veronica Duterte with the assistance of their respective counsels.
The SC said the two petitions for habeas corpus have been raffled to a member-in-charge for appropriate action.
Veronica was with her father when the former president was served with the ICC-issued warrant of arrest by Philippine authorities upon their arrival from Hong Kong on March 11.
The Philippine National Police, acting on a request by Interpol took custody of Duterte and eventually put him in a chartered jet to bring him to The Netherlands, where the ICC headquarters is located.
Named respondents in the two habeas corpus petitions were Executive Secretary Lucas Bersamin, Interior and Local Government Secretary Jonvic Remulla, PNP Chief Gen. Francisco Marbil, PNP-Criminal Investigation and Detection Group (CID) Director Maj. Gen. Nicolas Torre III, Solicitor General Menardo Guevarra, Foreign Affairs Secretary Enrique Manalo, Armed Forces (AFP) Chief of Staff Romeo Brawner Jr., Executive Director of the Philippine Center on Transnational Crime (PCTC) Undersecretary Anthony Alcantara, Capt. Johnny Gulla and the Bureau of Immigration (BI).
The petitioners asked the Court to order the respondents to appear before the High Tribunal and to produce the body of the former President and explain why he should not be freed without delay. Veronica filed the petition through lawyers Salvador S. Panelo and son Salvador Paolo Panelo Jr. while Sebastian was assisted by Tolentino and Associates law firm.
The writ of habeas corpus is a legal remedy available to address illegal confinement or detention, or to determine rightful custody over a person. It applies to all cases of illegal confinement
or detention by which any person is deprived of liberty.
“In the present case, petitioner humbly submits that his father was arrested and is illegally detained pursuant to a purported warrant of arrest issued by the International Criminal Court (ICC),” Sebastian Duterte’s petition read.
“His father was denied his constitutional rights by surprising him of arrest upon arrival from his trip to Hong Kong without giving him due notice to defend himself by filing any comment or counter arguments prior to the issuance of the warrant of arrest,” it added.
No basis for TRO
MEANWHILE, the high court has found no basis to grant the plea of former President Duterte and his ally Senator Ronald “Bato” Dela Rosa to immediate issue a temporary restraining order (TRO) enjoining the government from cooperating with the ICC in connection with its probe on the drug-related killings during the previous administration.
In a statement, SC spokesperson Camille Sue Mae Ting said the 15-man High Tribunal made the decision during a virtual deliberation conducted on the petition with Very Urgent Manifestation with Reiterative Prayer for the Issuance of a TRO and/or Writ of Preliminary Injunction.
“After a virtual deliberation on the 94-page petition, the SC found that the petitioners failed to establish a clear and unmistakable right for the immediate issuance of a TRO,” the SC said. However, the SC has directed the respondents to comment on the petition with prayer for TRO and/or writ of preliminary injunction within a non-extendible period of 10 days from notice.
The petition named Executive Secretary Lucas Bersamin, Justice Secretary Jesus Crispin Remulla, Interior and Local Government Secretary Jonvic Remulla, Philippine National Police chief Gen. Rommel Francisco Marbil, PNP-Criminal Investigation and Detection Group Director Gen. Nicolas Torre III, Solicitor General Menardo Guevarra, Foreign Affairs Secretary Enrique Manalo, Armed Forces Chief of Staff Gen. Romeo S. Brawner and the Bureau of Immigration (BI) as respondents.
It was filed on Tuesday afternoon following Duterte’s arrest.
Upon the directive of Chief Justice Alexander Gesmundo, the petition was immediately raffled to a member-in-charge for action. In their petition, Duterte and Dela Rosa argued that the respondents committed grave abuse of discretion amounting to lack of jurisdiction when they allowed the entry of the ICC investigators and prosecutors to investigate the drug war in the
supply seems sufficient on paper, over the years, unplanned outages of critical plants are a major factor in the power situation and have been the primary cause of power interruptions.
While NGCP has complied with the DOE directive on the procurement of ancillary services (AS) through competitive selection process (CSP) and payment of AS procured through the AS Reserve Market (AS RM), the unplanned outages cause all power dispatched through the transmission system to be used for energy consumption, NGCP said.
It explained that the contingency and dispatchable ancillary services will have been depleted and already running and dispatched for use by the consumers, and no longer reserved for ancillary services, since the contingency for which they were procured has already occurred. “A shortfall in supply, should that occur, means that while all available generators are running, including those contracted by NGCP for ancillary services, the existing supply is still insufficient to meet demand,” NGCP stated.
The procurement and scheduling
of ancillary services through the AS RM is the responsibility of the Independent Electricity Market Operator of the Philippines (Iemop).
NGCP reiterated the need for additional, non-intermittent baseload power sources to ensure the stability of power supply. As the transmission service provider and grid operator, NGCP can only provide an overview of the current supply and demand situation and dispatch any and all available power. The Electric Power Industry Reform Act (Republic Act 9511) prohibits NGCP from owning or operating power generating facilities.
Meanwhile, the NGCP reported that transmission wheeling rates, or what NGCP charges for its primary service of delivering power, has gone down by 3.14 percent, from P0.5422/kWh in the January 2025 billing period to P0.5252/ kWh in the February 2025 billing period.
AS rates for the February 2025 Billing Period increased by 5.05 percent, with P0.6975/kWh compared to P0.6640/kWh in January 2025 Billing Period. This cost includes the second tranche of
AIRASIA SOURS ON CLARK AS HUB, BUT SWEET ON BULACAN
LIKE Mona Lisa. That’s how AirAsia founder, Tony Fernandes, described the Clark International Airport (CIA) in Pampanga, as he nixed the possibility of transferring the carrier’s Philippines hub there from Manila.
“Clark is just one of those [paintings like the] Mona Lisa that you keep thinking is going to happen, but it doesn’t. Clark is just too far,” he said, responding to BusinessMirror ’s question why Philippines AirAsia will remain in Manila, despite its limited growth possibilities considering it has only one major runway.
“We will fly to Clark, which we are doing from February. It serves the Angeles [Pampanga] calibration, but I don’t see it as a hub. It’s just too far away. Bulacan [International Airport is] is 100 percent in our sights. [Business tycoon] Ramon Ang is a fantastic operator; he’s one of the best airport owners I have met, he really understands it.”
He also noted that Ang, whose New Naia International Corp. won the bid to develop and operate the Ninoy Aquino International Airport (Naia) in Pasay, “[is] obviously an aviation geek. He likes talking about runways. He likes air traffic control, so he’s unique, he’s smart, he’s hands on. And you can see a lot of my decision mak-
ing is based on who’s running the airport. And we have a lot of confidence in Ramon.”
A gateway to the US, Latin America CIA is operated by the Luzon International Premier Airport Development (Lipad) Corp., a consortium of JG Summit Holdings, Filinvest Development Corp., Philippine Airport Ground Support Solutions (PAGSS) Inc., and Changi Airports Philippines Pte. Ltd. JG Summit is the owner of Cebu Pacific Air, currently the Philippines’s largest airline. Fernandes held a news briefing on Wednesday with Philippine media to discuss how the Philippines fits into Capital A Berhad’s plans, AirAsia’s expansion, and plans for a “direct listing” on the Philippine Stock Exchange. (See related story in B1, “AirAsia PHL revives IPO plans”).
He said Manila will be one of the carrier’s three major hubs in Southeast Asia and a gateway to its planned routes to the United States, Latin America, and Africa. “I think now, with the airport development that’s happening in Manila, we can start to see Manila as one of our important hubs,” adding that the carrier will have a multiple hub strategy—with
Slovenians eye PHL ecozones as hub for other markets
By Andrea E. San Juan @andreasanjuan
ASLOVENIAN business delegation sees Philippine industrial parks and economic zones as a hub for accessing other markets amid global trade uncertainties, saying it will help the Philippines narrow its trade gap with the European country.
“Your openness and your politics in terms of free zones, industrial parks give us [a] possibility in terms of approaching other … it’s not that we’re using...Let’s say Philippines as the hub for accessing other markets,” Marjana Majerič, Executive Director of Chamber of Commerce and Industry of Slovenia, told reporters on the sidelines of the PCCI-Slovenia Business Forum.
“This is something that, you know, it’s like where you have your seat or where you are settled,” added the Slovenian business official.
Majerič said the Philippines has “many advantages” that it can offer such as its industrial parks and economic zones.
The Slovenian business leader explained that for companies, it is “more convenient” to be within these industrial parks because their focus is to have prosperous companies.
Majerič noted, however, the importance of having “stable electricity, water and all these infrastructure that you need for the production” when operating within industrial parks and economic zones.
Meanwhile, she noted that the workers within these economic zones are “really teachable people,” further underscoring that this is an important part of the business development equation.
The Slovenian business leader said in every business, there is one rule: “People, people, people. If you have the right people, then every-
thing will come along to that.”
She said the Slovenian business delegation sees the Philippines’ English-speaking population as its big advantage, along with the Filipinos’ eagerness to grow and learn.
“Talking to our companies that are here, they are saying that with the daily work and with education of people, of course giving them a space to rethink the things from the different perspective brings to really win-win-win-all situation on every level of the business development, growth and of course we are saying that learn, earn and return is the formula for that,” added the Slovenian business leader.
Majerič said Slovenian exports to the Philippines amounted to €16 million and €6 million in imports, meaning the Philippines is in a trade deficit with Slovenia.
The Slovenian business leader also noted that with the commitment to strengthen trade ties with
the Philippines, it is also part of the to-do list of the European country to narrow the trade gap of the Philippines with Slovenia. Asked which type of goods should the Philippines export to their country, the Slovenian business leader pointed to the potential of food products. She cited estimates that 35 percent of the Philippines’s food is locally produced. “I don’t know if you are aware that you are blessed with that, you have food. And this is something that gives opportunity for you as Philippines to do on that as well.”
The Slovenian Business Delegation to the Philippines is composed of 26 companies across mobility, manufacturing, food and beverage, ICT, Science and Technology and Education, Business Consultancy, among others.
The business mission is in Manila until March 13.
BRIGHT IDEA Workers install solar panels on the roof of Commonwealth High School in Quezon City on Wednesday, March 12, 2025, as part of efforts to integrate renewable energy in schools. Education Secretary Sonny Angara urges schools to adopt
NONOY LACZA
See “AirAsia,” A2
See “Surge,” A2
Editor: Jennifer A. Ng
MPIC: Strong 2024 results due to Meralco, toll roads
By VG Cabuag @villygc
METRO Pacific Investments Corp. (MPIC), the delisted conglomerate led by businessman Manuel V. Pangilinan, said it recorded a consolidated core income of P23.6 billion in 2024.
Last year’s figure was 21 percent higher than the P19.5 billion MPIC posted in 2023.
Improved financial and operating results from MPIC’s holdings delivered a 16-percent increase in contribution from operations to a highest-ever P28.4 billion.
The company said this was driven mainly by strong growth in energy sales of Manila Electric Co. (Meralco), higher billed volumes at Maynilad
Water and increased traffic on the toll roads complemented by higher tariffs.
“This success is a result of strong volumes and the positive impact of long-overdue tariff adjustments. As we continue to invest heavily in service quality and operational efficiency, we remain focused on improving the lives of our customers while growing our sales and core profitability, ultimately creating
long-term value for our investors,” said Pangilinan, the company’s chairman, president and CEO.
Chaye A. Cabal-Revilla, the company’s CFO, said MPIC’s capital expenditures this year will increase by 15 percent from the previous year’s P101 billion.
“It will be the same spending this year; for power, toll roads and for water businesses.”
Among the company’s core businesses, power contributed the largest share at P19.66 billion or 69 percent of net operating income. This was 29 percent higher than the previous year’s P15.23 billion.
Toll roads and water, meanwhile, contributed P6.3 billion and P6.2 billion, respectively, representing 44 percent of operating income.
The income of toll roads was 9 percent higher than the previous year’s P5.79 billion, water business was 42 percent higher from the previous P4.38 billion.
The company said its operating revenues rose 19 percent to P73.11 billion from the previous year’s P61.32 billion.
Total revenues of the power business rose 6 percent to P470.4 billion, mainly due to higher energy sales by the distribution utility, Meralco, which saw a volume growth of 6 percent to 54,325 gigawatt hours.
Toll revenues of the toll roads rose 16 percent to P31.6 billion due to a combination of toll rate increases in all markets and traffic growth in the Philippines.
For the water business, revenues grew 23 percent to P33.5 billion, due to the 3-percent increase in billed volumes and a 20-percent tariff adjustment in early January 2024.
Core net income jumped by 40 percent to P12.8 billion, driven by lower operating expenses.
The company said its net debt reached P61.5 billion slightly lower than the P62.6 billion in 2023.
AirAsia PHL revives IPO plans
By Lorenz S. Marasigan @lorenzmarasigan
NEARLY a decade after first announcing its intent to go public, AirAsia Philippines is once again gearing up for a stock market debut, targeting a listing on the Philippine Stock Exchange (PSE) within the next 12 months.
The budget airline plans to sell up to 30 percent of its shares, aiming to raise capital for fleet expansion, Capital A CEO Tony Fernandes said in a press briefing on Wednesday.
“I think rather than take an individual shareholder, we are exploring having a direct listing in the Philippine Stock Exchange. So we might be looking at selling 20 percent to 30 percent once aviation is sorted out. But at the moment we are 100 percent.”
Fernandes said AirAsia Philippines is currently evaluating multiple listing options, including an initial public offering (IPO) or a backdoor listing, based on recommendations from investment banks.
“I think we have to have discussions with the stock exchange on our profit record, etc.”
AirAsia Philippines first announced plans to go public in 2015,
with an initial target of listing by the end of that year. However, the move was later pushed to 2018 to allow for further business expansion. By May 2018, Fernandes reiterated hopes for an IPO, pending regulatory approvals, but the plan was again shelved. Most recently, in December 2023, Capital A reaffirmed its commitment to listing AirAsia Philippines, seeing the country’s growth potential.
Fernandes declined to provide the amount that AirAsia Philippines plans to raise, but he said the money will be used to acquire more planes.
The airline is set to receive three to four new Airbus A321neos in 2025,
followed by additional A321LRs in 2026. The airline is also planning to introduce three A330 widebody aircraft into its fleet.
In total, Fernandes said AirAsia Philippines expects to have around 30 aircraft in service, reflecting a 15-percent growth in fleet capacity. This includes 16 aircraft currently in operation, four returning from maintenance, and additional aircraft deliveries in the coming years.
“We’re looking to scale up to 25 aircraft initially, and the plan is to try to add three to four aircraft per year—that excludes the A330s.”
The wide-body, extra-long range
jets will be used for AirAsia’s planned transformation of Manila into its secondary hub—after Kuala Lumpur and Bangkok—focusing on its expansion to America.
“My dream really is that Manila should become our hub in Asean for the western and eastern coast of America. We are working towards building Kuala Lumpur and other hubs in Asean to build a kind of Doha and Dubai in this part of the world.”
Beyond serving Asean, the vision, he said, is to attract Japanese, South Koreans, and Chinese to fly via Manila to “the west and east coast of America and eventually Latin America.”
SM malls foot traffic hits new record high
AVERAGE daily foot traffic in the shopping malls of SM Prime Holdings Inc. reached an all-time high of 5.2 million last year, a 6-percent increase from the 4.9 million recorded in 2023.
Favorable economic conditions, mall and tenant expansion and a strong mix of entertainment and in-mall events contributed to the record performance, the company said.
“This milestone reflects the trust and loyalty of our shoppers, the strength of our tenant partnerships and the evolution of our malls as vibrant community hubs,” SM Supermalls President Steven T. Tan said.
By the end of 2024, SM Supermalls had 22,579 tenant stores, of which about 70 percent of these are micro, small and medium enterprises (MSME), making SM’s malls the largest marketplace for the MSME sector in the Philippines.
Throughout the year, SM also welcomed new foreign brands. Among them were Disney Store, National Geographic, Nitori and Paris Baguette.
In 2024, SM Supermalls expanded its footprint with the
opening of two new malls. SM City Caloocan debuted on May 17, covering 53,577 square meters across three levels.
Later in the year, SM J Mall, the 87th SM mall in the country, opened on October 25, offering 78,229 square meters of retail space across four levels.
This year, SM malls will continue to attract visitors by hosting large-scale events, regular activities and exciting new attractions. These include weekly job fairs, the launch of MOA Sky and Sky Bark, fan meets and SM Little Stars, the country’s biggest and longest-running mall-based kiddie talent search.
For 2025, approximately P21 billion has been allotted for the expansion of SM Supermalls’ gross floor area. New developments will add 205,400 square meters of GFA, while 124,488 square meters of existing mall space will undergo redevelopment.
“As we enter SM’s bold new era, our expansion strategy remains focused on strengthening our presence in key areas, curating an optimal tenant mix and continuously evolving with our customers to meet their changing needs and aspirations,” Tan said. VG Cabuag
PHOTO FROM WWW.SUPERMALLS.COM
PHOTO FROM WWW.AIRASIA.COM
Filinvest Land lists ₧12B bonds to support capex
By VG Cabuag @villygc
HE Filinvest Land Inc.
T(FLI) listed last Wednesday its P12-billion bonds at the Philippine Dealing and Exchange Corp., as the company said it completes a fund raising activity for its development projects. The bond is divided into tenors of five years, due 2030, carrying a coupon rate of 6.2916 percent; seven year due 2032, with an interest rate of 6.6550 percent; and 10 years, due 2035, with a yield of 6.8312 percent. The bond is the second tranche out of FLI’s P35 billion shelf-registered bonds approved by the Securities and Exchange Commission in 2023.
The proceeds of the bond sale will be used to partially refinance the full redemption of FLI’s P8.93 billion bonds carrying a coupon rate of 5.3455 percent, falling due on June 23 this year, the bond’s prospectus showed.
It will also be used to partially fund the capital expenditure for land development and construction costs of the several real estate projects worth P2.93 billion, set for disbursement in the first half of the year.
BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, RCBC Capital Corp., and Security Bank Capital Investment Corp. were tapped as lead underwriters and bookrunners for the deal.
FLI President Tristaneil D. Las Marias said the proceeds will support capital expenditures to expand retail business and build more industrial-ready built factories or warehouses.
Las Marias said the expansion this year includes their retail business with a new Filin -
RCBC
Banking&Finance Insurers told to adopt new accounting standards in ’27
vest Mall in the Filinvest Mimosa estate in Clark, Pampanga. He said the 24,000-square meter mall is eyed for opening by next year.
Las Marias said the proceeds will also fund the 17,000-square meter Filinvest Mall Cubao within its Activa Towers in Quezon City, which will have a supermarket and around 48 food space and 150 retail shops.
“We have also seen a strong demand for our industrial business ready-built factories (RBF),” he said adding the latter in both of the firm’s Filinvest New Clark City Industrial Park and Filinvest Technology Park in Ciudad de Calamba in Laguna are sold out.
“And we still have a long list of reservations for more RPFs from foreign and local businesses interested in creating in both,” Las Marias said. “We will use the proceeds from this fund to continue investing in this segment, provide venues to capture more foreign investment opportunities, and be a strong partner of this country in nation-building.”
He added that FLI continues to expand its residential business with more township developments in Cavite, Bulacan and Iloilo.
Last year, the firm launched its Filinvest Iloilo Central, a 15-hectare residential township in Leganes, Iloilo, that offered FLI’s first walk-up condominium product.
PDEx President Antonino A. Nakpil said FLI’s bonds brought PDEx’s listing this year to P65 billion, with the company expecting the listing of bond issuance by DoubleDragon Properties Corp. and Cebu Landmasters Inc. within the month.
PDEx is looking to attract P600 billion in new bond issuance being listed in its platform, driven mostly by companies refinancing obligations.
Korean firm for cashless withdrawal
THE Yuchengco-led Rizal Commercial Banking Corp. announced last Wednesday it has entered into a strategic partnership with Seoul-headquartered firm Cashmallow Co. Ltd. to enable cardless cash withdrawals in the Philippines for travelers from South Korea and other parts of the world.
RCBC Transaction Banking Group Head Martin Roberto G. Tirol said the partnership allows users of the Korean fintech’s partner institutions, such as Korea’s Woori Bank, to withdraw cash without worries in the Philippines by placing the generated QR Code at RCBC automated teller machines (ATMs).
Cashmallow is a fintech company offering global travel money solutions, including cardless cash withdrawals and currency exchange services. Through its flagship products MallowLink (an ATM application programming interface aggregator) and the Cashmallow app, the company ensures “efficient, low-cost money access for international travelers.”
This cardless service reduces high international transaction fees and offers better exchange rates, providing an option for international travelers, it said. The integration will also allow overseas workers to send remittances to the Philippines faster and at more competitive rates than traditional methods. Beneficiaries receive funds instantly, the company said. The service is currently avail -
able to users in South Korea, but RCBC said they will soon be expanded to Hong Kong, Japan and Taiwan.
“This partnership reinforces our commitment to provide innovative banking services that enhance the travel experience for everyone, especially South Koreans. By collaborating with Cashmallow, we are not only offering convenient and secure access to funds for international travelers but also removing the usual barriers and fees associated with foreign transactions,” Tirol said.
Cashmallow users will have access to 1,482 RCBC ATMs with QR-enabled withdrawal functionality without any fees in major airports across the Philippines. It allows quick and easy access to the peso.
These include multiple locations at Mactan-Cebu International Airport, such as the arrival hall, pre-departure areas, and both north and south wings.
These are also available at Laguindingan International Airport in Misamis Oriental, Clark International Airport in Pampanga and various key areas within Ninoy Aquino International Airport in Metro Manila.
Travelers can access RCBC ATMs at Puerto Princesa International Airport in Palawan, Daniel Romualdez-Tacloban Airport in Leyte, and Bohol-Panglao International Airport. These airports are pathways for travelers to get their cash for their travels or purchases in the Philippines.
VG Cabuag
ABy Reine Juvierre Alberto @reine_alberto
LL insurers and reinsurers in the Philippines will be adopting a new accounting standard for insurance contracts in 2027, according to the Insurance Commission.
The IC issued Circular Letter 2025-04 on the “Application of Philippine Financial Reporting Standard 17-Insurance Contracts (PFRS 17) in the Audited Financial Statements and Preparation of IC Reportorial Requirements” last Tuesday.
This mandates all insurers and professional reinsurers to adopt the accounting standard in their audited financial statements starting January 1, 2027.
Based on the International Financial Reporting Standard 17, the
INVESTORS in the Treasury market look surprisingly unconcerned about price pressures ahead of a key report on US inflation on Wednesday, with focus instead on the outlook of US growth.
The 10-year break-even rate, which measures long-term inflation expectations, has slumped to its lowest since December—despite the risk that President Donald Trump’s tariffs against major trade partners may lift consumer prices.
Investors are betting that shocks to the economy that reduce Americans’ propensity to spend will outweigh higher prices from tariffs, as the trade war ratcheted up a notch with new levies on steel and aluminum.
“Inflation is taking a back seat to the current growth scare,” said Chris Diaz, global fixed income portfolio manager at Brown Advisory. “If we go into recession, there is still plenty of room for rates to fall further.”
Indeed, traders have been ramping up bets on the Federal Reserve cutting interest rates by more than expected, piling into call options on two-year Treasuries that will profit in that scenario. The premium on these bullish bets has risen to the highest since last September, when slowing job growth was feeding fears of a slowdown during the final months of Joe Biden’s presidency.
SENATOR Christopher Law -
rence T. Go has renewed his call for the Philippine Health Insurance Corp. (PhilHealth) to improve its services, expand benefit coverage, and ensure that Filipinos pay less out of pocket for medical expenses. His demands for better governance and fund utilization appear to have prompted new commitments from the state insurer, with PhilHealth officials now outlining reforms aligned with the senator’s push.
“Ang pondo ng PhilHealth, hindi dapat natutulog o napupunta kung saan-saan. Dapat itong ginagamit sa paraang ramdam ng bawat miyembro—mas mababang bayarin sa ospital, mas maraming gamot na libre, at serbisyong mabilis at walang palakasan,” Go was quoted in a statement as saying.
PhilHealth President Edwin M. Mercado confirmed that the agency is working on multiple adjustments to its benefits system, reflecting Senator Go’s push for more inclusive healthcare coverage. Among the major changes under consideration are increased case rates for the country’s leading causes of mortality, an expanded free medicines program, and additional coverage for assistive devices such as
PFRS 17 introduces a more consistent and transparent way of determining insurance contract liabilities using current values and risk adjustments.
“The Commission views that the eventual institutionalization of PFRS 17 will ensure prudential stability and sustainable growth. It will also consequently afford the insuring public sustained, if not increased, protection and confidence,” Insurance Commissioner Reynaldo A. Regalado said.
Regalado said the IC acknowl-
edges that insurers and reinsurers need more time to prepare for the transition in presenting their solvency reports.
This will also provide the IC, the Securities and Exchange Commission (SEC) and the Financial and Sustainability Reporting Standards Council (FSRSC) more time to ensure the effective and coordinated adoption of the new accounting framework.
While mandatory adoption starts in 2027, Regalado said companies are allowed to implement PFRS 17 as early as this year. As such, insurers and professional reinsurers shall submit reports outlining the status of their implementation of PFRS 17 and affidavits of the undertaking.
This will serve as formal declarations of the companies’ commitments to implement the new accounting standard, as part of the 2024 Annual Statements (AS) they will submit to the Commission on or before April 30, 2025. Quarterly PFRS 17 implementation status reports shall also be submitted indicating the following: preparatory activities undertaken; an overview of implementation risks, challenges, and issues encountered; an assessment of PFRS 17 preparedness; and, the companies’ PFRS 17 accounting policies must be indicated in the quarterly PFRS 17 implementation status report. Insurers and reinsurers are also expected to conduct and report in a timely manner the Quantitative Impact Assessments (QIA) to evaluate the financial impact of PFRS 17. In May 2017, the International Accounting Standards Board prescribed IFRS 17 for insurance contracts, providing principles for the recognition, measurement, presentation, and disclosure of issued insurance contracts in financial statements.
US break-even rates have been falling over the past month as the market has become more worried about the outlook for economic growth. The 10-year gauge is down about 15 basis points to 2.31 percent, the lowest in almost three months. Meanwhile, Wednesday’s consumer price report is expected to show that inflation cooled last month but remained above the Fed’s 2 percent target. Economists expect core consumer prices to increase 0.3 percent in February, bringing the annual rate down to to 3.2 percent from 3.3 percent.
eyeglasses and wheelchairs.
“Kasama rin sa tinutukan natin ang mas mabilis na pagbabayad ng claims ng mga ospital para hindi mapasa sa pasyente ang gastos. Importante ito lalo na sa mga pampublikong ospital kung saan madalas kulang ang supply ng gamot,” the Senator emphasized. Mercado echoed this concern, confirming that PhilHealth will work to ensure benefit claims are processed faster.
One key program in the works is the Emergency Care Package, which will reimburse members for essential diagnostic tests such as X-rays, ultrasounds, MRIs, and CT scans when seeking emergency treatment. Mercado also noted that coverage for maternal care and open-heart surgeries has been expanded.
Go also pressed PhilHealth to resolve the backlog of denied claims due to late hospital filings. Shortly after his appeal, PhilHealth announced that it would allow hospitals to resubmit PhP 8.8 billion worth of previously rejected claims.
Ang mga ospital, lalo na ‘yung maliliit at nasa probinsya, hindi dapat malugi dahil lang sa teknikalidad. Kung lehitimo ang serbisyo, dapat bayaran. Sa dulo, pasyente ang kawawa kung
Treasuries have rallied since Trump’s inauguration as traders became more concerned that trade tensions could drag the US economy into recession. Meanwhile, sharp declines in US equities and government spending cuts have muddied the growth outlook.
Ten-year Treasury yields have fallen more than 50 basis points since peaking in mid-January, and most of the decline has been driven by so-called real yields. The rest came from lower inflation expectations, as measured by the break-even rate. The Fed is expected to hold inter-
matagal o hindi nababayaran ang ospital,” the Senator said.
PhilHealth confirmed that, upon board approval, hospitals will be given six months to resubmit claims originally denied due to the 60-day filing rule. This applies to cases from January 1, 2018, to December 31, 2024.
Beyond benefit expansion, Go has also demanded more transparency in PhilHealth’s operations, questioning unnecessary expenses that could be redirected toward healthcare services. He previously criticized the government’s decision to transfer excess funds to the National Treasury instead of using them to subsidize medical costs and expand its benefits. His position gained traction when the Supreme Court later issued a temporary restraining order on the fund transfer, validating concerns he had raised since mid-2024.
PhilHealth has since committed to streamlining its spending, including cutting down on non-essential activities. Mercado noted that the agency has scaled back its anniversary celebrations to simple flag ceremonies and religious services. Meanwhile, PhilHealth is also
A year later, the FSRSC and PRBOA approved the local adoption of IFRS 17 as PFRS 17.
est rates steady when officials meet next week. Bond traders are betting that the central bank will deliver three quarter-point interest-rate cuts this year, according to swaps, with the first move fully priced in June. That’s more than the two cuts that Fed officials projected in December. But some in the market worry that sliding inflation expectations belie the risk of a resurgence in price pressures.
Goldman Sachs Group Inc.’s Jan Hatzius and colleagues this week cut their growth forecast for 2025 but raised their inflation outlook, saying that they now expect Trump to be more aggressive with tariffs than they previously envisioned. That means the Fed will “want to stay on the sidelines and make as little news as possible until the policy outlook has become clearer,” they wrote in a note dated March 10, calling for two cuts this year. Others argue that concerns about a US recession may be overblown. That would limit the room for the bond rally to continue.
“Treasury yields are definitely the corner of the market where we are seeing the economic worries play out,” said Baylor Lancaster-Samuel, chief investment officer at Amerant Investments Inc. But “pricing in three cuts appears too aggressive at this time.” Bloomberg News
moving toward digitalization, forming a technical advisory group to improve its claims processing and membership services. The goal, Mercado said, is to create a system that is faster, more efficient, and less prone to corruption. Following PhilHealth’s scrapping of the Single Period of Confinement (SPC) rule, Senator Go is now calling attention to the 24-hour confinement requirement, which limits insurance coverage to patients who have been admitted for at least a day. PhilHealth has responded by expanding emergency care benefits to address this issue.
Ang kailangan ng tao, isang PhilHealth na hindi lang nasa papel kundi talagang gumagana kapag oras ng pangangailangan. Hindi pwedeng puro anunsyo lang, kailangang maramdaman ng mga Pilipino ang pagbabago,” Go said. While PhilHealth’s recent commitments indicate progress, the Senator maintains that the agency must deliver concrete results. He stressed
THE 10-year break-even rate, which measures long-term inflation expectations, has slumped to its lowest since December. PHOTOGRAPHER: VICTOR J. BLUE/BLOOMBERG
Health& Fitness
CoMMunIT y QuARAnTIne 5TH AnnIveRSARy In PHL
Editor: Anne Ruth Dela Cruz
Looking back to letdowns and lessons in long lockdown
By Jude Trinidad
How we all wish March 15, 2020 never came.
It has been five years now since our lives were unexpectedly disrupted by the sudden strike and the eventual surge of coronavirus or Covid-19 that necessitated the imposition of an unprecedented nationwide lockdown.
Shortly before that fateful day, local health officials were on the lookout for travelers who might exhibit symptoms, believing that the virus can only be contracted abroad. Then came the first confirmed case in the Philippines sometime in February 2020 calling the infected person “Patient No. 1.” Thereafter, Patient nos. 2, 3 and 4 emerged in quick succession with doctors still dazed about the origin of the virus.
It was not until “Patient No. 5” and “Patient No. 6” that the medical community ascertained the existence of a local transmission prompting the national government to declare community lockdown starting on March 15, 2020.
The milestone discovery of the local transmission through Patient Nos. 5 and 6 at Cardinal Santos Medical Center was made possible through the hospital’s Infectious Disease Unit that hosts a team of medical experts and a comprehensive set-up of infection prevention, control and monitoring protocol and system. It provides infectious disease strategies based on studies and research and shares them with international and local health organizations like the World Health Organization (WHO) and the Department of Health (DOH).
Spreading within local communities SIMPly put, the realization that the virus was spreading within local communities, rather than through international travel, was a game
changer that prompted health officials to take immediate action. The lockdown, that dragged on for months and then years, was part of a broader national health campaign aimed at protecting the public and mitigate the impact of the pandemic on the healthcare system. It brought about unimaginable transformation in the daily lives of the Filipinos where suddenly streets went empty, schools closed, offices shutdown, businesses shuttered, transportation halted and the entire population grounded to their homes. While the lockdown was essential for health reasons, it more so led to devastating consequences in terms of the upsurge of hardships in families, strains in mental health cases, massive unemployment and the great impact on the economic activities in the country. yet, from among the vanquished stood up the healthcare workers who became instant heroes. They battled the scourge and risked their lives to care for
patients and manage the overwhelming challenges in the healthcare system. In the end, more than four million Filipinos were infected and about 65,000 perished. In those dark days, the display of dedication of the healthcare workers and the inspired resilience and unity of the Filipinos shone the brightest as they collectively weathered the crisis to rise stronger from the ashes of the long lockdown.
As the Philippines reflects on the fifth anniversary of the nationwide lockdown, it behooves us to reflect on the lessons learned of the days, months even years of struggle. The pandemic highlighted the importance of preparedness, the need for robust healthcare systems, and the value of community solidarity. It also underscored the significance of science and public health in guiding policy decisions.
Much as we all want to leave behind that sorry episode, the painful journey
is far from over. The emergence of new variants and the potential for future outbreaks should constantly remind us of the need for continued vigilance and the harnessing of adaptability to respond to public health issues.
May the fifth anniversary of the Covid-19 lockdown in the Philippines serves as a poignant reminder to all of us of the constant existence of threat and the possibility of the worst in our lives and health. As we continue to harbor the wounds or feel the scars inflicted by the pandemic, it is important to honor the sacrifices of each and every one of us so that it may serve to be the wellspring of our steadfast commitment to building a healthier and more resilient future for all.
Jude Trinidad is a PR practitioner and freelance writer. He spent many years working with corporate foundations and various charitable programs.
TBy Rory Visco Contributor
H e practice of Traditional, Complementary, and Integrative Medicine or TCIM has been around for many centuries as it is deeply rooted in many cultural traditions, indigenous knowledge, and holistic healing principles. l ong before modern medicine, Traditional medicine such as herbal remedies, acupuncture, Ayurveda (one of the world’s oldest healing systems called the “Science of l ife” in Sanskrit and originated in India more than 5,000 years ago), are some of the primary forms of healthcare for many communities in the world. As for Complementary medicine, it mainly refers to non-mainstream practices used alongside conventional medicine, while Integrative medicine blends both approaches but focuses on patientcentered care.
Globally, countries have diverse perspectives on TCIM. China leads in the practice of what it calls Traditional Chinese Medicine (TCM) that is widely accepted there and is part of their healthcare system. India, of course, recognizes Ayurveda, along with Unani (with roots in Greek medicine) and Siddha (traditional medicine with origins in southern India). There is growing interest in TCIM in the United States and e urope, mostly as complementary therapies. e ven the World Health Organization (WHO) has recognized TCIM’s role in achieving universal health coverage and encourages evidence-based practices.
Indigenous, folk medicine
He R e in the Philippines, TCIM also talks about indigenous and folk medicine, the use of herbal remedies, the “hilot,” a popular traditional massage, mostly in the rural areas, among others. To institutionalize TCIM, the government enacted Republic Act No. 8423, the Traditional and Alternative Medicine Act of 1997 (TAMA l aw) authored by the late then-Senator Juan Flavier. The law helped establish the Philippine Institute of Traditional and Alternative Health Care (PITAHC), a government-owned and controlled corporation attached to the Department of Health, to promote research and regulation of TCIM practices, and to “encourage scientific research on and develop traditional and alternative healthcare systems that have a direct impact on public healthcare, to promote and advocate the use of traditional, alternative, preventive, and curative healthcare modalities that have been proven safe, effective, cost-effective, and consistent with government standards on medical practice, and to develop and coordinate skills training courses for various forms of traditional and alternative healthcare modalities,” among others.
While TCIM offers a holistic approach to healing, focusing on preventive care, natural remedies, personalized treatments that focus on mind-body harmony to treat the root causes of illness rather than just symptoms, conventional medicine relies on pharmaceuticals, surgery, and advanced diagnostics that often provide quicker and scientifically tested solutions. It has shown promise in chronic disease management, well -
ness promotion, and integrative treatments for ailments like cancer and mental health disorders.
But despite its benefits, TCIM faces ethical challenges like lack of scientific validation, regulatory gaps, informed consent, and even cultural sensitivity. Although it is viewed with enthusiasm as complementary to conventional medicine, some think that for it to be fully integrated into healthcare systems, ethical, scientific, and regulatory challenges must be addressed. e xperts believe that by fostering collaboration between modern and traditional medicine, countries can create a more inclusive and patient-centered approach to health and wellness.
Healing, not harm R e C e NT ly, the Philippine Information Agency (PIA), together with PITAHC and the Association of Professional Chiropractors of the Philippines (APCP), organized a press conference related to the PITAHC’s call for “Safe and Qualified TCIM Practitioners—Healing, not Harm.”
In his welcome address, e lmer Jude Mesina, PIA Deputy Director General, said PITAHC’s call for Healing, not Harm, is a timely reminder that while traditional and alternative healthcare offer great benefits, they must be guided by proper qualifications, regulation and accountability. He said the presence of PITAHC experts to shed light on the steps to safeguard public health in this field signifies a shared commitment to responsible healthcare practices.
On the other hand, PITAHC Director General Dr. Ma. Teresa Iñigo said that at present, the agency recognizes several TCIM practices such as Acupuncture, Anthroposophic medicine, which combines conventional medicine with concepts and therapies derived from anthroposophy, a spiritual philosophy, Ayurveda, Chiropractic medicine, Traditional Hilot, Homeopathy, Naturopathy, Osteopathy, TCM, and Tuina Massage, a TCM-based ancient form of Chinese medical massage.
When asked how people can be made aware if their treatments whether “hilot” or herbal medicines they use are safe, Dr. Iñigo said their top priority is making people aware about safety and safeguarding their health. “ e nsuring the public’s health and safety is non-negotiable for us. Safe practices can only be assured if the public is aware of the correct information about the accurate (treatment) interventions and modalities they need, and if the practitioners are registered or accredited with PITAHC.”
She added that soon, PITAHC will be coming out with a strategic plan where the advocacy will be about education and spreading the correct information to the public. “We will spread the word about the proper use of natural products and herbal medicines, and other natural treatment modalities, especially for less privileged members of society.”
For his part, Dr. Martin Camara, PITAHC Board Member and President of the Association of Professional Chiropractors of the Philippines (APCP), said their role at PITAHC is to be relevant and to improve the health of the masses through traditional, alternative, and natural healthcare methods. “Ultimately, our role is to make Filipinos healthier.” Gov’t to conduct info
DOH steps up measures to fight rising heat index
By Claudeth Mocon-Ciriaco
TH e heat index is expected to rise in the next few days as the country heads towards the peak of the country’s dry season.
Acting on the instructions of President Ferdinand R. Marcos, Jr., Health Secretary Teodoro J. Herbosa has released updated interim guidelines on preventing and managing extreme heat health impacts.
Dated and first circulated last March 7, 2025, Department of Health (DOH) Department Memorandum No. 2025-0114 outlines measures to beat the health impacts of heat.
DOH DM 2025-0114 directs all DOH units including Department-retained hospitals and health facilities like the Bagong Urgent Care and Ambulatory Services (BUCAS) centers to implement key strategies themselves, and to cascade the same to and coordinate with local government units ( l GUs) through mechanisms like PuroKalusugan (PK) which was launched in a recent
National Health Sector Meeting (NHSM).
The key strategies are grouped into service continuity, that includes facility and staff preparedness and networking; public health literacy; establishment of cooling centers; climate-resilient health infrastructure, that includes hydration stations; and prompt detection and monitoring of heatrelated illnesses.
Well-ventilated areas
C OO l ING centers are air-conditioned or well-ventilated areas close to public transportation routes that shall be made available and accessible to the general public, with priority to the elderly, young children, pregnant women, and persons with disabilities.
Hydration stations will make clean and safe drinking water continuously available to the public in all DOH facilities, especially during the anticipated peak hot hours from 9 am to 4 pm.
“The Department of Health, together with the entire government, is prepared to face the hot weather. Always check the heat index forecast of PAGASA for your area or vicinity. Wear loose, white or light-colored, and lightweight clothing,” said Secretary Herbosa.
“Always drink clean water and avoid the heat from 9 am to 4 pm. Call 911, 1555 (DOH), or 143 (Philippine Red Cross) for emergencies,” added Herbosa.
Global healthcare company urges women to prioritize heart health
By Candy P. Dalizon Contributor
IT is a misconception that heart disease is a “man’s disease.”
Cardiovascular disease (CVD), affecting the heart and blood vessels, is the leading cause of death among women globally. This underscores the urgent need to address its persistent neglect as a crucial women’s health issue.
In the Philippines, the Philippine Statistics Authority reports that coronary heart disease remains the top cause of death, accounting for 60,253 cases or 19.8 percent of the total deaths in the country from January to August 2024.
e ven with these alarming figures, many women neglect their own heart health, often placing the needs of the family and community first. This Women’s Month, Organon, a global healthcare company, is raising awareness on the preventability and treatability of heart disease, urging women to take proactive steps toward better cardiovascular health.
Organon highlights the importance of early detection, lifestyle changes, and access to healthcare in preventing CVD among women. While heart disease is often associated with men, statistics show that women are more vulnerable due to biological, hormonal, and social factors that influence their risk.
Symptoms of heart disease
CVD refers to a collection of disorders that damage the heart and blood vessels.
Notably, CVD can be present with or without noticeable symptoms. The most common form, coronary heart disease, occurs when plaque, which consists of fat, cholesterol, calcium, and other substances found in the
blood, builds up in the arteries. This restricts blood flow and increases the risk of heart attacks. Once a person develops coronary heart disease, it becomes a lifelong condition requiring continuous management.
Common risks include high blood pressure, high cholesterol, diabetes, obesity, smoking, an unhealthy diet, stress, and lack of physical activity. While some factors like age and family history cannot be changed, many risks can be controlled through lifestyle modifications.
Although some women have no symptoms of a heart disease, others may have.
According to the Centers for Disease Control and Prevention (CDC), symptoms include angina—usually felt as a dull or heavy chest discomfort or ache, pain in the neck, jaw, or throat, and pain in the upper abdomen or back.
These symptoms may happen when one is resting or active. Women also may have other symptoms such as nausea, vomiting, and tiredness that won’t go away or feels excessive.
SMART goals for better heart health
A SIGNIFICANT challenge in addressing CVD in women lies in overcoming cultural barriers that make women’s heart health a lesser priority. Organon emphasizes that every heart is important and that early prevention can lead to significantly better health outcomes. It encourages women to take charge of their heart health by setting SMART goals—specific, measurable, attainable, relevant, and time-bound targets for a healthier lifestyle.
The healthcare organization reminds women that small but consistent changes such as eating a balanced diet, getting regular exercise, managing stress, quitting smoking, and ensuring adequate sleep can
make a significant difference. For women struggling to control certain risk factors, consulting a healthcare provider is crucial. In some cases, medications may be needed to manage conditions like high blood pressure, cholesterol, or diabetes.
“As the leading cause of death in the Philippines, coronary heart disease is a major health concern that requires immediate attention. We want to empower women with the knowledge and resources they need to prioritize their heart health. Through education and early intervention, we hope to raise discussions on the risk for women and underscore the importance of taking proactive steps in managing their cardiovascular health,” said emmanuel Tiglao, Country l ead at Organon Philippines.
Global movement, local commitment ORGANON ’ S global commitment to women’s cardiovascular health is exemplified by initiatives like Wear R e D Day, a US awareness campaign highlighting the impact of heart disease on women. Although Wear R e D Day is not observed in the Philippines, Organon Philippines remains dedicated to this global mission, promoting heart health awareness and empowering women to take proactive steps.
By fostering education and early intervention, Organon aims to contribute to the development of a healthier, more resilient society, where women’s heart health is a priority. Its message is clear: taking proactive steps today can lead to a healthier heart and a better future.
Organon is a global health care company dedicated to making a world of difference for women, their families and the communities they care for. To learn more about Organon’s initiatives, visit www.organon.com.
PBBM eyes stronger cooperation with Slovenia, Palestine, Sweden and Egypt
PRES. Ferdinand R. Marcos Jr. hopes to forge stronger relationships with several countries to further promote peace and a rules-based international order.
This, as he received the credentials of ambassador-designate Smiljana Knez of the Republic of Slovenia and ambassador-designate Mounir Y.K. Anastas of the State of Palestine in separate ceremonies at the Malacañang Palace.
Knez affirmed Slovenia’s support with the current administration in its objectives.
Marcos Jr. said his administration shares Slovenian values, which are strong foundations for deepening the two countries’ relationships.
The Slovenian envoy also vowed to strengthen the cooperation between the Philippines and her country in various areas, including people-to-people ties.
She told the President that she “will work tirelessly and cooperate closely” with the Philippine government, business community, as well as cultural and scientific communities for the common benefit
of both countries and peoples.
Ljubljana is slated to open its deputation in Manila to boost two-way cooperation. Diplomatic relations were established on May 26, 1993. The Central European nation is home to 462 Filipinos who are mostly office-based workers, professionals, service workers and technicians.
Meanwhile, Anastas conveyed the Palestinian government’s commitment to continued partnership with Manila: “We can work toward a future where peace, mutual understanding and prosperity prevail. Let us continue to stand united in the pursuit of justice and equality not only for nations, but for all humanity. May peace and solidarity guide our path forward.”
The Chief Executive also affirmed the Philippines’ shared values with the West Asian nation in promoting peace.
“Let us continue to work on the basis of our shared values, on the basis of peace, and prosperity along the lines of international order and human rights for all in the entire world,” the president said.
The Philippines and Palestine forged diplomatic relations in September 1989.
Deeper ties
THE Philippines also seeks enhanced bilateral relations with Sweden and Egypt, as the newly appointed ambassadors of both countries recently presented their credentials to the president.
The Philippine leader made this statement during separate meetings with ambassador-designates Anna Ferry of the Kingdom of Sweden and Nader Nabil Zaki of the Arab Republic of Egypt.
Ferry informed Marcos Jr. that Sweden views the Philippines as a “priority partner,” as he stressed that both countries share common values, including respect for human rights, the upholding of democracy, and the pursuit of progress.
The diplomat confirmed Sweden’s support for the United Nations Convention on the Law of the Sea or UNCLOS, and the freedom of navigation.
The Philippines and Sweden
established diplomatic relations on January 17, 1947. Since then, the two have cooperated briskly in trade and investments.
In 2023, investments from Sweden to the Philippines reached $11.81 million (P684.79 million)— up from $5.74 million in 2022.
In the same year, the Nordic country became the Philippines’ 41st-largest trading partner, the 45th-biggest export market, and 38th in import supplies.
“You come in a particularly auspicious time when the development of relations between our two countries have grown significantly,” Marcos told Ferry.
Meanwhile, Zaki said Cairo is keen on strengthening bilateral ties, boosting trade and investments, while promoting cultural and peopleto-people exchanges.
The Philippines and Egypt established formal diplomatic relations on March 3, 1946. This year, both countries will mark their 79th year of diplomatic ties. Both have agreements in education, cultural cooperation, and scientific and technical cooperation.
Marcos Jr. hoped that Zaki’s stay in the country would be “constructive and productive,” similar to the experiences of his predecessors. PND/PNA
I. Cervantes marks Women’s Month via Spanish female film auteurs’ series
communities
THE government of Japan and the United Nations Development Programme (UNDP) in the Philippines have formalized an agreement that will increase support for the normalization process in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) by strengthening local governance, accelerating socioeconomic development, as well as promoting social cohesion and conflict prevention.
A signing ceremony between Amb. Endo Kazuya of Japan and Resident Representative Dr. Selva Ramachandran of UNDP Philippines officially launched “Project CEDAR,” or the “Project for Promoting Human Security through the Community Economic Development and Livelihood Initiatives in Bangsamoro Region in the Philippines.”
Through a $3 million (¥454,000,000) grant from the Japanese government, Project CEDAR will run for 3 years and enable area-based development in BARMM communities, support livelihood initiatives to ensure human security, plus enhance local capacities to implement community transformation for sustained peace.
Japan’s support for “CEDAR” embodies its long-standing commitment to the Bangsamoro Region’s peace and prosperity. Kazuya remarked that “under this project, stakeholders—particularly women, youth and former combatants—will be provided with community economic-development support [that include training programs] on the operation of enterprises, job creation and agrifishery productivity, as well as the provision of necessary livelihood equipment.”
The ceremony was witnessed by Sec. Carlito G. Galvez Jr. of the Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU); MP Atty. Sha Elijah Dumama-Alba of BARMM’s Ministry of the Interior and Local Government (MILG); and Min. Akmad Brahim who is the cochair of the Moro Islamic Liberation Front’s (MILF) Joint Normalization Committee.
Dr. Ramachandran hailed the project as a testament to Japan and UNDP’s commitment to peace in BARMM: “CEDAR is a fitting continuation of our longstanding partnership with the government of Japan. It builds on the gains of previous initiatives and strengthens ongoing efforts to maintain [BARMM’s stability and enduring
peace]. This generous financial support will contribute immensely to these initiatives.”
According to UNDP, the project is expected to accelerate the delivery of much-needed peace dividends in conflict-affected and conflict-vulnerable communities in the BARMM and its adjacent regions. Specifically, Project CEDAR will target four MILF and four Moro National Liberation Front communities, two non-Moro communities, and two Christian settler communities. Small-scale and quick-impact projects will boost area-based development, while community leaders and members will be upskilled to enhance their capacities in implementing social cohesion and transformation processes.
“Project CEDAR is crucial, as it aims to expedite the delivery of much-needed socioeconomic interventions in conflictaffected and conflict-vulnerable communities,” said Galvez in his message of support during the signing ceremony.
Among key BARMM government agencies that will be involved in Project CEDAR is the MILG. Minister Atty. Dumama-Alba reiterated that “[we are deeply committed to ensuring that local governance is at the forefront of peace and order, and sustainable development and progress. Through this project, we will strengthen local government units’ capacities] in disaster-risk management and response, foster community-driven climate adaptation strategies, and institutionalize long-term resilience policies across all levels of governance.”
Project CEDAR is a follow-up initiative of UNDP’s previous programs with the government of Japan. In 2022, both launched the “Assistance for Security, Peace, Integration and Recovery for Advanced Human Security in BARMM” or “ASPIRE” project to promote decommissioning and facilitate the transition and integration of former combatants to productive civilian life. In 2023, the “Enhancing Food Security and Livelihood in Bangsamoro” or FSL was implemented to improve access to food and livelihood toward supporting the recovery and transformation of communities affected by conflict in more than 20 communities across
with two
SEC. Carlito Galvez Jr. (from left), Resident Representative Dr. Selva Ramachandran, Amb. Endo Kazuya and Min. Atty. Sha Elija Dumama-Alba
SLOVENIA’S ambassador-designate
SWEDEN’S ambassador-designate Anna Ferry with Marcos Jr.
Philippine Ambassador to Oman Raul S. Hernandez Leads Philippine School’s 35th Anniversary Celebration
COLORS burst to life, and cultural diversity took center stage as Philippine School Oman (PSO) celebrated its grandest 35th Founding Anniversary on February 21, 2025. This year’s theme, “Celebrating Milestones and Envisioning the Future,” highlighted the school’s 35 years of commitment to delivering quality education in the Sultanate of Oman.
His Excellency Raul Hernandez, Ambassador of the Republic of the Philippines to the Sultanate of Oman, graced the event as the Guest of Honor and Keynote Speaker. He was accompanied by his wife, Ana Algabre Hernandez, who generously presented PSO with her masterpiece painting, “Kasarinlan,” from her Iwatawat Mo series.
The celebration was a momentous gathering, attended by key figures in the school’s history, including former Board of Trustees (BOT) and Parent-Teacher Association (PTA) chairpersons, as well as past educators who played vital roles in shaping PSO’s legacy. Among them were Carmelita de Jesus, Maria Carolina Layog, and Ma. Eloisa San Jose, who traveled from the Philippines to commemorate the school’s milestone.
A Cultural Display Unfolds
THE festivities began with an electrifying performance by the Grade 11 Marching Band, followed by Grade 6 students’ grand opening
GRADE 12 performed a Shadow Dance narrating the school’s history and the journey of OFWs.
FOLLOWING the impact of successive tropical cyclones Kristine, Leon, Marce, Nika, Ofel, and Pepito over a three-week span from October to November 2024, the Philippine Disaster Resilience Foundation (PDRF) highlighted its disaster information management platform, HANDA, in mobilizing private sector response efforts, in a recent meeting with Airlink’s Asia Pacific Division, a global aviation and logistics nonprofit.
During the Asia and the Pacific Cyclone Response Coordination Call, hosted by Airlink’s Asia-Pacific division, PDRF Operations Center Director Arnel Capili emphasized the need to enhance coordination between the private sector and government agencies, underscoring the importance of timely hazard information dissemination through PDRF’s Emergency Operations Center to ensure more efficient response.
A week before Super Typhoons Ofel and Pepito entered the Philippine Area of Responsibility, the PDRF EOC had already
number to “Galing Natin Ito.” Each grade level showcased vibrant performances, celebrating Philippine and global heritage.
A highlight was the Parade of Nations, where Kindergarten 1 and 2 students dazzled in traditional attire. Grade 10 paid tribute to the Maranao tribe with “Singkil,” while Grade 5 brought the energy of Bacolod’s MassKara Festival. Grade 4 honored Baguio’s Panagbenga, Grade 3 embodied Bukidnon’s Kaamulan Festival, and Grade 2 celebrated Omani culture through dance.
Adding to the spectacle, Grade 7 performed a “Festival of Nations” dance, Grade 8 and 9 impressed with a speech choir titled “Our School, Our Future,” and Grade 12 captivated the audience with a Shadow Dance narrating the school’s history and the journey of OFWs. The celebration ended on a heartfelt note with Grade 1’s song performance, followed by the community song and alma mater, leaving a lasting impression.
A Tribute to Hard Work and Dedication
THE 35th Foundation Day celebration was spearheaded by Mark Anthony Badion, alongside Magnolia V. Gabrielle and the PSO Day core committee. Planning and preparations for the grand event began as early as April 2024, ensuring a seamless and memorable celebration. With the steadfast support of the PS Board of Trustees, led by Cherry Ann Cuntapay Ballad, the ParentTeacher Association, under the leadership of Joanne Asma Tubo, and the Faculty and Staff, headed by School Principal Michael B. Joves, the vision for this momentous occasion became a reality.
been monitoring their development and potential impacts using various weather models integrated into the HANDA platform.
Capili also shared the challenges posed by these consecutive storms despite the country’s experience with such weather events. “This phenomenon is not new to us; however, there are still unprecedented impacts. For example, in the Bicol Region, even though the typhoon was over Cagayan, the area experienced severe flooding,” he noted, referencing Severe Tropical Storm Kristine, which intensified the Southwest Monsoon and triggered massive floods in Bicol.
In response, PDRF launched its “Tugon sa Bicol” initiative in partnership with Shell, Ayala Foundation Inc., and the Peace and Equity Foundation to bring aid to affected communities.
According to Capili, PDRF made operational adjustments at the time, including localizing procurement to reduce logistical costs, which are typically the most expensive aspect of disaster
A Legacy of Excellence
THE Philippine School’s roots can be traced back to 1989 when it was founded by Filipino Overseas Workers with the support of His Excellency Essa bin Mohammed Al Zedjali, the Philippine Honorary Consul General. This initiative was undertaken in cooperation with the Overseas Workers Welfare Administration (OWWA) and the Department of Labor and Employment (DOLE), to ensure that the children of overseas Filipino workers (OFWs) had access to quality education.
The school’s first location was in Al Wattayah, where it was inaugurated in February 1989 under the name Philippine Community School (PCS), initially catering to 38 students in multi-level classes. After consistently meeting the prescribed standards of instruction and complying with the regulations set by the Department of Education, Culture, and Sports (DECS) in the Philippines, as well as adhering to the Ministry of Education’s policies in Oman, PCS received government recognition on January 31, 1995. With this recognition, it was officially renamed the Philippine School (PS).
The institution celebrated its first milestone in the 1994-1995 academic year when 19 elementary pupils and the first batch of six high school students graduated. In response to its growing student population and evolving educational needs, the school relocated to its current premises in Al Khuwair Heights on June 16, 2007.
Growth and Impact
FROM its modest beginnings, Philippine School Oman has grown into a wellstructured academic institution. Today, it serves 993 students, of which 33 percent come from various nationalities. The school thrives under the guidance of 47 highly qualified and committed teaching staff, supported by 23 dedicated nonteaching personnel.
Beyond its part in education, PSO continues to play a vital role in the
response. Sourcing supplies within the affected areas not only cuts costs but also supports local economies. In addition, PDRF leveraged its network’s resources— such as the logistics cluster—to assist in transporting goods while the government ensured efficient ground distribution.
The EOC also used HANDA to develop a real-time response monitoring dashboard per disaster (TC Carina, TC Kristine, TCs Nika, Ofel, and Pepito) to track private sector responses.
Other members present in the coordination call include APAD Sri Lanka. Capili reiterated PDRF’s goal to serve as the private sector hub for disaster response, advocating for strengthening the Airlink Asia-Pacific Network through more exercises and simulations to improve coordination and preparedness. PDRF and Airlink collaborated on capacity-building and response initiatives in previous years, including Emergency Response Logistics Training and the Winter Aid for Afghanistan response in 2023.
socioeconomic and cultural landscape of Oman in the following sectors:
Socioeconomic. PSO supports Filipino professionals in Oman by ensuring quality education for their children, allowing parents to focus on their careers. This helps retain skilled workers in key sectors such as healthcare, construction, and engineering. The school also generates employment by hiring teachers, staff, and administrators, contributing to both the Filipino community and Oman’s economy.
Moreover, PSO alumni may later engage in business or trade between the Philippines and Oman, strengthening economic ties between the two nations.
Cultural. PSO actively preserves Filipino heritage through events like Independence Day celebrations, traditional dance performances, and food festivals, fostering cultural appreciation within Oman’s diverse society.
The school also promotes inclusivity by bringing together students from various backgrounds, encouraging intercultural understanding and harmony.
Additionally, its language and arts programs enhance Oman’s linguistic and artistic diversity, helping students develop multilingual skills and creative expression.
Education. PSO ensures academic continuity by aligning with the Philippine curriculum, allowing students to transition smoothly if they return home or pursue further studies abroad.
Beyond academics, the school engages with the community through outreach programs and collaborations with local institutions, fostering knowledge-sharing and stronger social connections.
A Future Rooted in Excellence
AS Philippine School celebrates 35 years of commitment to education, cultural exchange, and community service, it continues to uphold its mission of providing quality education while serving as a beacon of Filipino heritage in Oman. The 35th Foundation Day not only honored the school’s past achievements but also reaffirmed its commitment to excellence in shaping the minds and characters of future generations and strengthening the ties between the Philippines and Oman in the years to come.
Truly, Philippine School stands as the Blue Star in the Arabian Sky. May its legacy continue to shine for years to come. Happy 35th Founding Anniversary, Philippine School Oman.
2025 Ushers in Radenta 2.0
Radenta Technologies, one of the country’s leading solutions integrators welcomes the new year with a firm resolve “to be the driving force behind organizations’ digital transformation.”
Radenta sets two major goals. One is to develop solutions that empower organizations to reach unprecedented heights of success and the second is to inspire Radenta’s very own employees to become ambassadors of innovation and digital transformation.
Radenta, considered a digital power player in the industry, is not using tech jargon to describe its mission. It instead dug deep into Filipino values and has decided to adopt the philosophy of “malasakit.” This is the vernacular equivalent of showing care and concern. This is applied to all stakeholders inside and out.
A “malasakit” driven work environment prioritizes employee happiness and wellbeing. The same mindset applies to care, commitment and accountability that go beyond expectations. Integrity, innovation, excellence, and teamwork drive day-to-day interactions.
Randall Lozano, Radenta president has this to say, “We have somehow forgotten long standing societal values when doing business. The concept of ‘malasakit’ goes beyond caring for people and the delivery of services. We want Radenta to embody this principle.”
Radenta will highlight the following solutions in 2025 to further solidify its position in the industry: Cloud solutions to include Microsoft Azure, AWS (Amazon Web Services), GCP (Google Cloud Platform), and OCI (Oracle Cloud Infrastructure). Productivity tools consist of Microsoft 365 Copilot, Google Workspace, Zimbra, Zoom, Zextras, Carbonio, QuickBooks, Odoo, Adobe, Power BI, laptops, and desktops. Infostructures that help companies build and manage the technology foundation they require to operate the like of data center, command center, and business continuity and disaster recovery, such as Oracle, HPE,
RADENTA Technologies Inc. president Randall Lozano SQL, Windows, Red Hat, SUSE, Linux, Fortinet, Cisco, Palo Alto, Acronis, Nagios, VMWare, and Shape Robotics. Business protection to shield companies from cyber threats including cyber security measures from TrendMicro, Sophos, Fortinet, SentinelOne, Google SecOps, Microsoft Defender, Microsoft Sentinel, and Kaseya. Intellectual property innovations to help enterprises protect their ideas and innovations, patents, and copyrights. Solutions include HEMP, GRIDS, and GRIPS. As for Artificial Intelligence, Radenta aims to be the central
for AI innovations and solutions in the Philippines. In the years past and into 2025, Radenta remains
ANA Algabre Hernandez donated her painting, “Kasarinlan,” from her Iwatawat Mo series. She is pictured here with her husband Raul Hernandez, Ambassador of the Republic of the Philippines to the Sultanate of Oman and the staff of the Philippine School Oman.
Nurture and �lourish: Raising children for a bright future–Part I
STI BAGS ANOTHER ANVIL AWARD
FOR the third consecutive year, STI Education Services Group (STI ESG) bagged silverware anew at the 60th Anvil Awards at The Manila Hotel on January 28, 2025.
Presented annually by the Public Relations Society of the Philippines (PRSP), the country’s premier organization for public relations, the institution brought home the Silver Anvil award for the STI Social Media Pages: Reaching and Guiding Students Through Enriching and Innovative Content, under the Public Relations (PR) Tools (Multimedia) category.
“This recognition reflects our commitment to adapting to the evolving demands of technology and using digital platforms effectively to engage, inform, and inspire our community,” STI ESG vice president for academics Karen Precious Tabije said. “At STI College, we continuously strive to innovate and provide meaningful quality education that resonates with our students and stakeholders.”
STI’s official social media pages have played a crucial role in connecting with students by delivering innovative, engaging, and relevant content. These platforms have become essential in fostering communication, sharing information, and creating a supportive online community.
The new trophy adds to the institution’s collection of Anvil trophies garnered in the past, including the Grand Anvil Award, the country’s highest form of recognition for a PR program for the STI Mobile School.
Widely considered the “Oscars of PR” in the Philippines, the Anvil Awards is a symbol of excellence in PR, bestowing recognition to exceptional PR programs and tools thoroughly screened by esteemed PR professionals.
LAST weekend, I was invited to give a talk at the Edamama Baby Expo. I gave a talk about my thoughts on how to raise children towards a bright future.
Every parent dreams of giving their child thriving in their future, but how do we define that future? Is it academic success, emotional well-being, or the ability to navigate life’s challenges with confidence? The journey begins with us—the parents.
I believe it is truly a gift to be a parent, but how we care for ourselves, both physically and mentally, right after we give birth has a great effect on how we can also properly care for our child. We need to acknowledge the pains and the problems, as well as find and embrace parenting solutions that are tried and tested.
Proper physical and mental nurture post-birth brings a brighter mindset as a parent. Research from experts like Maggie Dent emphasizes that a stressfree, intentional, and purpose-driven approach to parenting is essential in raising resilient and confident children. When we nurture ourselves as parents, we set the stage for a thriving child. Personally, by keeping my safe personal space for me to relax, laugh and explore without guilt, I have come to appreciate wifehood and motherhood more. As I continued this power to dream, I saw my family rooting for me, while I also found more energy to root for their pursuits.
A child’s bright future for each parent may have different definitions. Some parents value academic success, career growth, financial success, values or simple happiness; most want a combination with more emphasis on some aspects. I shared in my talk that for me, a bright future for my child means more than just high grades or a successful career. I aim for my children to be happy and fulfilled—happiness in pure and simple laughter and fulfillment in any form, whether school, learning an instrument or being bold enough to talk to their crush.
It is important for parents to take a moment to reflect—what does success truly mean for your child? Is it solely about academic excellence, or does it also include emotional intelligence, integrity, and the ability to form meaningful relationships? It was interesting to hear my son at 4, when I asked him what he wanted to be when he grew up, he said he wanted to be a father.
Women, please be careful with your heart
IN their 20s, women worried about acne and dysmenorrhea; in their 30s, they focused on reproductive health; in their 40s, they got their first mammogram; in their 50s, they sought ways to manage the effects of perimenopause. Throughout their lives, women are primed to watch out for femaleassociated conditions like breast cancer, cervical cancer, and maternal mortality. But what about heart health?
Both men and women are susceptible to heart disease, with common risk factors including hypertension, diabetes, obesity, and smoking. However, women face unique risk factors, including hormonal changes associated with perimenopause and pregnancy.
“Estrogen, which declines during perimenopause and menopause, is known to help keep the blood vessels relaxed and open, which in turn helps maintain healthy blood pressure. It also helps control cholesterol levels, preventing plaque buildup in arteries,” reveals Jasmin Melissa B. Bernardo, MD of the Department of Cardiology of top hospital in the Philippines Makati Medical Center (MakatiMed, www. makatimed.net.ph) and current president of the Philippine Society of Vascular Medicine. “Meanwhile, complications during pregnancy like preeclampsia and gestational diabetes could increase a woman’s risk of future heart health issues.”
There’s nothing wrong with loving yourself a little bit more. Ladies, start with these four heart-friendly tips from MakatiMed.
Up to now when you ask him, he would say, “I want a life with balance of work, play and rest.” It is very different from my daughter who voluntarily made her vision board at Grade 9 to aim to be Valedictorian, national athlete, to get in Columbia University and be a student leader. There are no right or wrong, more right or more wrong answers for me. I tell my kids that whatever brings that light in their eyes and their days, it matters and they should go for it.
choice,” says Bernardo. “Try to exercise for 40-60 minutes four times a week. Exercise lowers blood pressure and blood sugar, keeps you at a healthy weight, and releases endorphins, ‘happy hormones’ that naturally lift the spirit. Can’t go to the gym because you were stuck at the office? Walk every chance you get. Aim for 7,000 to 10,000 steps a day.
Bernardo underlines that even if you can’t reach 10,000 steps a day, simple adjustments like taking the stairs instead of the elevator, choosing parking spots further away from the destination, engaging in household chores, and adding light exercises throughout the day like squats, stretches, jumping jacks, and even running in place can significantly help improve your heart health. Investing in a fitness tracker to monitor steps and activities may also help you evaluate your progress.
Below are the five tips and tools I shared on how to pave a bright future for our children:
1. Start with the fundamentals: Child development is not a trend. Ogalala, a parenting partner for stress-free parenting, simplifies this to 4 areas of development from 0-8. These are sensori-motor (includes tummy time for infants and skill building activities), brain building, SEL or socio-emotional learning, and S.T.E.A.M. (Science, Technology, Engineering, Art and Math).
SEL is important even as a baby and even more when your child is transitioning between toddler and preschool. Early S.T.E.A.M. is critical because it hones 21st century learning skills of content, critical thinking, communication, confidence, creative innovation, and collaboration, which are the foundation of our Philippine curriculum.
I also shared my simplifying tips of knowing which expert-recommended brands are the best go-to for each area of development:
■ Sensori-motor/skill building: Tiny Love
■ Brain building: The Learning Journey
■ EL: Learning Resources and Melissa & Doug
■ S.T.E.A.M: Crayola and National Geographic
2. The power of play: More than just fun. Play is a child’s most natural and powerful tool for learning. Experts and play advocates like Sylvia Rimm, Kathy Hirsh-Pasek and our very own Dr. Francis Dimalanta emphasize that play helps children build problemsolving skills, enhances creativity and understanding of social cues.
In my experience, play was important in building focus, self-regulation and a unique parental connection with each child.
■ KNOW YOUR NUMBERS. “One of the reasons why stroke is the second leading cause of death in the Philippines is because few Filipinos know their average blood pressure—much less the fact that they’ve been hypertensive all this time and haven’t done anything about it. Aim for a blood pressure of 120/80 mm Hg or less,” says Bernardo. “Always seek to achieve and maintain normal results— normal lipid profile, normal sugar, normal weight.” Monitor these figures during your company’s annual checkup or commit to seeing a family physician at least once a year.
they too experience pressure on their chest,” shares Bernardo. “But they also have jaw or back pain, nausea and vomiting, weakness in the arms, and flu-like symptoms. If you feel unwell, err on the safe side and check your blood pressure and heart rate, apart from the symptoms. If you think something is amiss, contact your primary physician— or bring yourself to the emergency room.”
■ DON’T DISREGARD THE SYMPTOMS. When it comes to heart attacks, women’s symptoms vary slightly from men’s. “Yes,
■ EAT BETTER, MOVE MORE. Fast food may be the most convenient way to squeeze in lunch on a packed workday or serve dinner to the family because you were too busy to cook, but it isn’t as good for your health. “Ideally, a meal loaded with vegetables and complemented with lean protein and complex carbs is a heart-healthy
■ MANAGE STRESS. Single women, wives, mothers, and career women will definitely benefit from some much-needed time out from work and home life. “Go on leave. See friends. Exercise. Meditate. Sleep. Consult a professional if the stress becomes overwhelming. The break will clear your mind and energize you, giving you renewed motivation to face demanding days at home or in the workplace,” emphasizes Bernardo. “Women can do it all, but they also have to remember that they are not exempt from heart disease—or any disease for that matter,” adds Bernardo. “Easy changes in your lifestyle and attitude toward heart health help a lot in keeping you healthy and happy for years to come.”
Through play, parents also get an opportunity to observe their child’s interests and learning styles, gaining valuable insights into how to support their growth.
I also shared a QR code with an Age-by-Age Play Guide that has simple contents for each critical age period: 0-6 months, 6-12 months, 12 months, as well as ages 1, 2, 3, 4-5 and 6-8 years old. Each age guide has a cheat sheet for milestones for that age, play activities and super short-listed expert-recommended play tools. You can click on this link (linktr.ee/ ogalalaplayguide?utm_source=qr_code) to access this guide.
■ Next week, I will share the other parts of my list in raising children for a bright future.
Gerard S. Ramos
PHOTO BY ANNIE SPRATT ON UNSPLASH
Van der Valk leads Ramos by one stroke
GVAN DER VALK was tested like everybody else in Faldo’s back nine but held on to a one-stroke lead despite carding a 75 in the third round of the International Container Terminal Services Inc. (ICTSI) Eagle Ridge Championship in General Trias, Cavite, on Wednesday.
On a wind-swept and unpredictable Faldo course, four bogeys in a birdieless finish could have toppled the Dutchman from the top, but with his rivals also struggling against the stern conditions and relentless heat, van der Valk kept the lead in the P2-million championship organized by Pilipinas Golf Tournaments Inc.
“Whew, I’m tired,” he said, slumping into his chair after a physically and mentally exhausting round that threatened to shake up the leaderboard but ultimately saw little movement.
Van der Valk had a 54-hole aggregate of 221 with Sean Ramos trailing by just one shot at 222 after also posting a three-over round.
Lloyd Go stood another stroke back at 223 following a 76. But while the leaderboard remained mostly intact, Angelo Que surged into contention to set the stage for a wild, unpredictable finish.
Winner at Pradera Verde, Que clawed his way into the title hunt with a gutsy 72 ignited by early birdies and an eagle on the par-5 No. 12.
A clean finish could have seen him tie van der Valk, but late bogeys on Nos. 16 and 17 left him two strokes behind at 223 in a tie with Go. With the course proving unforgiving even to the best-struck shots, van der Valk said a steady game alone won’t be enough to seal the win.
“If I can just hit it solid tomorrow, it would be okay,” he said. “But the problem is, you can hit good shots and still make bogeys. In the end, it’s about who plays best—and who gets lucky.” Ramos, chasing his second Philippine Golf Tour title after his Lakewood breakthrough last year, is bracing for the pressure of the final 18 holes.
“You can’t avoid the pressure, but I’ll just try to hit fairways and greens and enjoy the moment,” he said.
Despite an early spark with two birdies in the first four holes, bogeys at Nos. 13, 15 and 16 cost him a share of the lead.
Go, also hunting a second PGT trophy after his Palos Verdes win, is counting on a cleaner round to stay in contention. He rued a costly double bogey on No. 11 but remains confident that an even-par finish could be enough to win the top purse of P360,000.
“Whoever stays patient and avoids big mistakes will win,” Go predicted. “Tomorrow, I’ll aim for even par and see if that’s enough.” Of all the contenders, Que’s momentum could be the biggest factor in a frantic final-day battle. Fresh off a dominant Pradera Verde victory, the three-time Asian Tour is within striking distance of another title.
“Winning back-to-back is always nice. So no pressure, I’ll just play my game,” Que said. Even after making four bogeys, he remains confident in his ability to weather the conditions and stay in the mix.
“I didn’t hit bad shots today, but I got unlucky on four holes,” he said. “If I keep doing what I’ve been doing, I think I still have a chance.”
Breakthrough win for Mafy
MAFY SINGSON secured her first professional crown in dramatic fashion at the Eagle Ridge Championship on the Ladies Philippine Golf Tour, overcoming Florence Bisera in a nerve-wracking playoff on Wednesday in General Trias, Cavite.
Battling scorching conditions and mounting pressure, the Southeast Asian Games Games and Queen Sirikit Cup veteran earned a well-deserved victory in the pro ranks.
The playoff was a test of nerves.
On the first playoff hole on No. 18, Singson overshot the green but managed to salvage a par off a superb chip shot. Bisera, meanwhile, could not convert a long birdie attempt, forcing both players back to the tee.
Singson reached regulation on their return to the par-4 No. 18 and two putts earned her the win as Bisera missed the green and failed to get up and down.
The road to the playoff was anything but easy. Singson drained a crucial birdie putt on No. 16 and parred the last two holes to save a 78, forcing a tie at 232 with Bisera, who had surged ahead with an impressive 32 on the back nine, highlighted by an eagle on No. 12. Bisera’s final round 72 was the day’s best in grueling conditions.
“I was nervous heading into the playoff since it was my first sudden death experience,” said Singson. “But I reminded myself that I’ve trained for this, so I just had to trust my ability to perform under pressure.”
Despite lingering nerves, she executed a clutch par save, shifting the pressure onto Bisera, who faltered in their return to the 18th.
“By the second sudden death
hole, I treated it like a regular round rather than a playoff, and that helped me stay composed,” added Singson, who banked P90,000.
The brutal conditions at the challenging Faldo course pushed players to their limits, with shifting winds and the relentless heat sending scores soaring. Singson’s triumph was a testament to her resilience, proving she could endure and excel despite the harshest tests of skill and character.
The victory holds significant meaning for Singson, who turned professional exactly a year ago. After an arduous rookie season filled with setbacks, she approached this year’s tour with renewed determination.
With swing coach Bong Lopez constantly reminding her that she had what it takes to succeed at the professional level, Singson remained steadfast in her pursuit of victory— and now, she has finally claimed her well-deserved triumph.
A missed cut at the International Container Terminal Services Inc.WWL Group Philippine Ladies Masters and a seventh-place finish at Pradera Verde didn’t hint at an imminent breakthrough, but she defied expectations with a hardfought win at Eagle Ridge.
Singson started the tournament with an 80, but a second-round 74 netted her the lead as other frontrunners struggled. She built a three-shot advantage despite an outward 37 in the final round, only to endure a crushing quadruple bogey (with no penalty) on No. 10, which opened the door for multiple contenders.
Despite the setback, she held her ground when it mattered most. For Bisera, the loss was
THE grand stage is set for the second Pacquiao-Elorde Awards Night on March 20 at the posh Okada Manila in Parañaque City.
The star-studded event, which started 23 years ago with the Gabriel “Flash” Elorde Banquet of Champions, will honor the biggest achievers in Philippine professional and amateur boxing, and sports in general for 2024.
The Elorde family is behind the event, led by Liza and Johnny Elorde, which is in collaboration with boxing icon and former senator Manny Pacquiao, who has been elevated to the Elorde Hall of Fame after being named Boxer of the Year for seven straight years during his prime.
“This is our way of giving honor to our boxers. And for this year, we will also honor [Paris Olympics double-gold winner] Carlos Yulo with the Sports Hero Award as well as [Paris bronze
medalists] Nesthy Petecio and Aira Villegas,” Liza Elorde told the recent Philippine Sportswriters Association Forum at the Rizal Memorial Sports Complex Conference Hall.
She said a total of 70 awards will be handed out for the top honorees and citations for Best Manager, Best Trainer, Boxer of the Year and Fight of the Year in the event to be graced by Pacquiao and former Department of the Interior and Local Government Secretary Benhur Abalos, a staunch supporter of professional boxing in the country.
Also gracing the forum were Miguel Elorde, grandson of the legendary Filipino boxer and now a member of the World Boxing Council Ratings Committee, and Alvin Magramo, who will headline an eightfight boxing card that begins at 1 p.m.
The awards rites will begin at 6 p.m.
By Josef T. Ramos
Mheartbreaking. Her birdie-less front nine (40) left her trailing, but she mounted a sensational back-nine charge, birdieing Nos. 10 and 11, eagling No. 12, and adding another birdie on No. 14. A bogey on 16 momentarily stalled her momentum, but a clutch birdie on 18 forced the playoff. Her 72 underscored the difficulty of the course, as her 16over total still proved enough to contend for the title.
Tiffany Lee finished third at 234 after a final-round 73, while Chanelle Avaricio and Sarah Ababa shared fourth at 235. First-round leader Gretchen Villacencio, who had surged back into contention at the turn, faded with late bogeys and double bogeys, closing with a 79 for seventh at 237.
Lois Kaye Go (80) settled for eighth at 238, while Kayla Nocum (81) finished ninth at 239. Former tour winner Sunshine Baraquiel rebounded with a 73 to tie for 10th at 240 alongside Velinda Castil (78) and Marvi Monsalve (84).
Reflecting on her hard-earned victory, Singson emphasized the importance of patience and course management. “I learned this week that you can’t fight the course.
ULTI-TITLED Far Eastern University coach Let Dimzon will call the shots for the Capital1 team featuring Judie Arevalo, Yasmin Elauria, Regine Rebosura, Hazel Lustan and Lyka Teves in the Philippine Football Federation (PFF) Women’s League.
The Solar Strikers will have foreign players Emma Young and Arianna Del Moral and are expected
to complete the lineup well ahead of the tournament opener on March 23 at the newly-built Mall of Asia football pitch in Pasay City.
“It has always been my dream to give back to the football community that helped shape me in the past 20 years of being an athlete,” team coowner Milka Romero said on Wednesday in the press launch also attended by PFF President John Gutierrez.
Milka and sister Mandy also run the Solar Spikers team in the
Premier Volleyball League.
“I want to empower women in sports because there are many talented athletes that need only the right opportunity to excel. It’s time to help the next generation reach their dreams, and I’m excited to be part of that journey,” Milka added.
Mandy said they expanded the company’s sports program to give way to Filipina athletes and help them prosper with new opportunities.
“As we mark our first year in women’s volleyball with Capital1 Solar
Spikers, we’re more committed than ever to expanding opportunities for Filipina athletes,” Mandy Romero said.
“That’s why we’re stepping into professional women’s football. Not just to build a team, but to be part of the movement pushing women’s sports forward.” Milka and Mandy are daughters of 1-Pacman Partylist Representative Mikee Romero, who owned Harbor Centre in the defunct Philippine Basketball League.
SARAH ABABA (left) and Chihiro Ikeda give Mafy Singson the victory ride.
GUIDO VAN DER VALK posts nines of 35-40 and holds on to the top spot. BERNARD TESTA
MIGUEL ELORDE (left), Lisa Elorde and Johnny Elorde are joined by light flyweight fighter Alvin Magramo (second from left) in the PSA Forum.
PHILIPPINE Football Federation President John Gutierrez (third from left) welcomes the Solar Strikers Lyka Teves, Hazel Lustan, team owners Milka Romero and Mandy Romero, coach Let Dimzon, Arianna Del Moral, Emma Young and Yasmin Elauria. ROY DOMINGO
RIZAL’S Michael Canete goes for a shot against Basilan’s Arwind Santos.
