BusinessMirror May 05, 2026

MOODY’S

Analytics said Philippine economy likely picked up in the first quarter and grew by 3.9 percent, but inflation may have also accelerated to 5 percent in April.

In its weekly Asia Pacific Economic Preview, Moody’s Analytics said “March-quarter GDP data from Indonesia and Hong Kong should show slowing yearon-year growth, but data from the Philippines will likely show the opposite.”

The New York-based research institution said that while it expects the growth rates of Hong Kong and Indonesia to have slowed to 2.8 percent and 5.1 percent, respectively, in the first quarter, it expects Philippine economy to

have grown to 3.9 percent in the first three months of the year.

“By contrast, we expect a pickup in growth in the Philippines to 3.9 percent year-on- year,” Moody’s Analytics noted, comparing this to the 3 percent GDP growth of the Philippine economy in the previous quarter.

While Moody’s did not expound on the factors behind this, Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo Rivera said he

Export-oriented firms need help with FX risks

By Andrea E. San Juan @andreasanjuan

EXPORT-ORIENTED firms, especially smaller exporters, are in need of support in honing their financial literacy and hedging access as they face challenges in managing foreign exchange-related obligations, according to the head of the Philippine Economic Zone Authority (PEZA), the agency which oversees half of the country’s exports.

PEZA Director General Tereso O. Panga raised this concern as he signaled that contrary to the notion that export-oriented firms

stand to gain from a stronger dollar and a weaker peso, outbound shippers, particularly the smaller exporters, seem to be struggling amid periods of exchange rate volatility due to issues on financial planning, among others.

“Yes, some Philippine exporters—particularly those with foreign currency-denominated debt—face challenges in managing FX obligations during periods of exchange rate volatility,” Panga said in an e-mail sent to the BusinessMirror

He explained that when the peso depreciates, the cost of servicing dollar- or yen-denominated

loans increases in peso terms, putting pressure on cash flows even for export-oriented firms.

“While exporters typically earn in foreign currency, mismatches can still arise due to timing differences, partial hedging, or when revenues are denominated in multiple currencies,” the PEZA chief also told this newspaper.

“Smaller exporters and SMEs within PEZA zones are especially vulnerable, as they may have limited access to sophisticated hedging instruments or treasury management capabilities,” Panga said.

The PEZA chief pointed out that rapid fluctuations—rather than

gradual movements—can strain financial planning and debt servicing schedules. According to Panga, while institutions such as the Bangko Sentral ng Pilipinas (BSP) have promoted risk management practices and deeper financial markets, from PEZA’s standpoint: “Continued support for financial literacy, hedging access, and stable macroeconomic policies remain essential to help exporters manage FX-related debt risks effectively.”

In the January to February 2026 period alone, data obtained by the BusinessMirror from PEZA

By Bless Aubrey Ogerio @blessogerio

“IN this fragmented world, traditional and isolated development responses will fail. To survive and thrive in this new era, we must build deeply connected and resilient systems.”

This is how Asian Development Bank (ADB) President Masato Kanda opened the institution’s 59th Annual Meeting on Sunday, with a call for Asia and the Pacific to strengthen crossborder links in response to ris-

ing global fragmentation and economic uncertainty.

Kanda said countries in the region can no longer rely on isolated development strategies, and stressing that the choices made at what he described as a “new crossroads” would shape outcomes for future generations.

“The decisions we make at this new crossroads will secure the future for the next generation,” Kanda saId in his opening speech.

Current challenges, Kanda

RBy Ada Pelonia

EDUCING reliance on imported inputs can shield the local agriculture sector from external volatility caused by geopolitical tensions, a unit of the University of Asia and the Pacific (UA&P) said. Despite the Middle East being geographically distant from the Philippines, disruptions in global value chains triggered by escalating tensions between the United States and Iran have translated to surging farm prices and renewed pressure on food costs for Filipinos.

For UA&P Center for Food and Agribusiness (CFA) Principal Agribusiness Specialist Ditas Macabasco, such an effect on the local farm sector was “not surprising.”

“Philippine agriculture is deeply integrated into global input and commodity markets, with heavy reliance on imported fuel, fertilizer, and feed materials,” Macabasco said in the UA&P CFA’s latest briefer.

The Middle East war has caused hikes in local pump, feed, and fertilizer prices, affecting transport and production costs across the value chain.

“These cost pressures accumulate along the supply chain and are ultimately reflected in higher food prices at the consumer level. The result is a squeeze on producer margins alongside renewed upward pressure on retail food prices,” Macabasco said. While the government has issued a raft of interventions to cushion the conflict’s impact on the local farm sector, she stressed that long-term solutions are more crucial.

“In the short term, government responses typically focus on mitigating immediate impacts—through targeted subsidies, buffer stocking, or adjustments in import policy [...] But

By Andrea E. San Juan @andreasanjuan

the longer-term challenge is more fundamental.”

She noted that reducing dependence on imported inputs, enhancing fertilizer use efficiency, bolstering logistics systems, diversifying supply sources, improving market linkages, and deepening coordination across agencies and stakeholders form part of building resilience.

“These are not quick fixes, but they are increasingly essential in a world where geopolitical risks are becoming more frequent.”

While the US-Iran conflict may eventually de-escalate, Macabasco said its effects on global markets and Philippine agriculture highlight a broader reality in which current food systems are “shaped not only by weather and domestic policy, but by events far beyond national borders.”

“For the Philippines, the lesson is clear: agricultural resilience can no longer be viewed purely in terms of production. It must also be understood as the ability to withstand and adapt to shocks originating from an increasingly uncertain global environment.”

April PMI falls to 48.3, first factory contraction in 5 mos

By Bless Aubrey Ogerio @blessogerio

MANUFACTURING

conditions in the country deteriorated at the start of the second quarter of 2026 as new orders dropped sharply and export demand weakened, according to Standard & Poor’s (S&P) Global Market Intelligence.

The Philippines’s Manufacturing Purchasing Managers’ Index (PMI) fell to 48.3 in April from 51.3 in March, slipping below the 50-point threshold that separates expansion from contraction. It marked the first contraction in five months and the sharpest decline since August 2021.

“If there is a way to settle this conflict peacefully, as we have witnessed it come so painfully close to being achieved, then it must be pursued with full seriousness and without further delay,” the statement concluded.

The appeal was signed by former Secretary Hernani Braganza, Atty. Efren Moncupa, Dr. Jaime Aristotle Alip, Prof. Francisco J. Lara Jr., and Roberto Ador.

According to S&P Global Market Intelligence economist Maryam Baluch, the downturn reflected a renewed weakening in operating conditions, driven mainly by demand-side pressures.

“Demand conditions took a notable hit, with April data marking a sharp fall in new orders. Total new sales were also weighed down by a deteriorating export market demand pic-

ture,” Baluch said.

She added that production levels stagnated during the month, while firms scaled back on hiring and purchasing activity as costs remained elevated, with some of the pressure traced to global tensions.

“Moreover, production levels stagnated, and firms made cuts to purchasing and hiring activity as they grappled with high costs, often said to be feeding through from the war in the Middle East,” she said.

Export performance also weakened further, with new export orders falling at their fastest pace since mid2020. According to S&P, some firms reported shipment delays and route

disruptions that contributed to customer hesitancy.

Cost pressures intensified during the month. Input price inflation accelerated to its fastest pace since December 2022, driven largely by higher energy and shipping expenses linked to the Middle East conflict.

These higher costs were passed on to customers, with factory gate prices rising at their quickest rate in 41 months.

S&P noted that manufacturers responded by cutting back on input purchases for a second consecutive month.

Higher operating costs also led firms to reduce staffing levels in April. Although the job cuts were described as modest, it was the first round of employment reductions this year.

Despite weaker hiring and production trends, companies were still able

to manage workloads, as backlogs declined. S&P attributed this partly to the steep drop in new orders, which eased pressure on capacity.

Supply chain conditions also worsened. Delivery times for inputs lengthened further, with firms linking delays to disruptions tied to the conflict in the Middle East.

Business confidence

SENTIMENT for the year ahead improved despite the downturn in current conditions.

“However, manufacturing firms in the Philippines expect to shake off current woes, as confidence for the year ahead rose to a 17-month high,” Baluch said.

For S&P, this optimism was supported by anecdotal reports pointing to expectations of recovery, even as current indicators showed continued strain in the sector.

agrees with the research institution that growth may have picked up “modestly” in the first quarter from the previous quarter due to “seasonal factors, some rebound in government spending, and continued strength in services and consumption.”

“But the pickup is likely to be limited, as higher inflation, elevated interest rates, and external uncertainties continue to weigh on demand,” added Rivera.

With this, the PIDS Senior Research Fellow expects Philippine economy to have grown by around 3.5 to 4.2 percent in the first three months of the year, consistent with “mild recovery but still below the country’s longerterm growth potential.”

Consumer prices AS for the Philippines’s headline inflation for April, Moody’s Analytics noted that the pace of the increase in the prices of goods and services in the country likely quickened to 5 percent last month.

However, this is well below the Bangko Sentral ng Pilipinas’s (BSP) month-ahead inflation forecast range of 5.6 to 6.4 percent for April and below the forecast of some of the economists and analysts in the Philippines.

noted that export-oriented locators within the country’s economic zones were able to earn $10.12 billion in revenues.

In contrast, PEZA locators registered an import bill of $6.87 billion in the first two months of the year.

The investment promotion agency tasked to establish economic zones in the country told this newspaper that half of the country’s exports come from export-oriented firms registered with PEZA.

Last week, Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co. explained to this newspaper that while a weaker peso boosts export receipts, this benefit is “quickly overwhelmed when firms carry a lot of dollar debt.”

The foreign exchange analyst revealed that around half of goods exporters’ liabilities are FX-denominated, so when the dollar swings or strengthens, the peso cost of servicing debt rises faster than revenues.

“The financial hit to balance sheets outweighs the trade gains, forcing firms to delay investment. The practical takeaway is simple—earning in dollars is not enough; managing FX debt and

volatility is now critical to staying competitive,” he also told this newspaper. Ravelas said firms need to hedge FX risk the same way they manage credit or operational risk.

“First, match currencies: borrow in the same currency as revenues whenever possible, or shift part of FX debt back to pesos. Second, lock in cash flows—use forwards, swaps, or options to hedge near-term receivables and debt service. Third, hedge structurally: diversify suppliers, invoice flexibly, and build natural hedges across markets. And finally, treat FX risk as a board-level issue, not just a treasury task—because in volatile markets, what kills investment isn’t the peso level, it’s unmanaged volatility,” the foreign exchange analyst told this newspaper. (See: https://businessmirror.com. ph/2026/04/30/better-riskmanagement-forecasting-toblunt-exporters-losses/)

On Monday, the Philippine peso plunged to P61.565 against the dollar, only 2 centavos stronger from the record low of the local currency which closed at P61.567 against the greenback on Wednesday, April 29,2026. (See: https://businessmirror.com.ph/2026/04/29/peso-plunge-puts-phl-near-levelsdifficult-to-manage/)

Kanda further noted that the bank stands ready to support member countries affected by the Middle East conflict, including through financial assistance.

said, require solutions that go beyond national borders, particularly in areas such as energy markets, supply chains, and digital networks.

The ADB president also pointed to the bank’s recent operations, noting that it provided $29.3 billion in financing to developing Asia and the Pacific last year while also implementing internal reforms aimed at speeding up the delivery of assistance.

It has also begun rolling out a $70-billion investment program aimed at building more integrated regional systems. Launched over the weekend, the program includes a $50-billion initiative to develop a PanAsia Power Grid intended to connect renewable energy sources across borders, improve energy security, and reduce emissions.

It also includes a $20-billion plan to expand cross-border digital infrastructure and narrow connectivity gaps across the region.

ADB said the twin initiatives are designed to strengthen shared resilience as countries face overlapping pressures from energy volatility and digital inequality.

But no thanks to the higher energy prices, tighter financial conditions and broader economic disruption linked to ongoing geopolitical tensions, the ADB projects that growth in developing Asia and the Pacific will slow to 4.7 percent this year from 5.4 percent in the previous year, while Inflation is expected to rise to 5.2 percent from 3 percent.

Under a more severe scenario in which the conflict escalates and oil prices surge in May 2026 before remaining elevated, regional growth could slow further to 4.2 percent this year and 4.0 percent in 2027, while inflation could reach 7.4 percent in 2026.

For Kanda, the bank will rely on its regional mandate and role as financier and adviser to mobilize resources, particularly from the private sector, and to support efforts addressing climate risks and environmental degradation.

The 59th Annual Meeting of the ADB Board of Governors is being held from May 3 to 6, in Samarkand, Uzbekistan, under the theme “Crossroads of Progress: Advancing the Region’s Connected Future.”

Moody’s have the same forecast as Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co. who also thinks inflation quickened to 5 percent in April due to the continued pressure from food prices especially rice and meat, higher transport costs from firmer oil prices, and seasonal demand tied to summer activity.

Meanwhile, Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. said the bank sees the April inflation print reaching 5.7 percent, adding that the BSP will need to hike much more aggressively “maybe as much as 50 basis points at a time to temper inflation expectations.”

A higher inflation forecast for April, meanwhile, was projected by HSBC Global Investment Research Senior Asean Economist Aris Dacanay, who pegged April inflation print at 6 percent, owing to high fuel and retail rice prices.

“Though retail fuel prices eased at the end of the month, gasoline prices spiked by 25 percent month-onmonth [m-o-m] while diesel prices rose by 46 percent m-o-m, significantly pushing inflation upward,” the HSBC Senior Asean Economist said.

Dacanay also took into account that retail rice prices rose to P46.80 per kilogram in Metro Manila.

“With rice and energy being large components of the Philippine [Consumer Price Index] CPI basket, second-order effects on inflation—particularly in restaurants, furnishings, and non-volatile food items—might have pushed inflation higher,” he said.

The Philippine Statistics Authority (PSA) will hold a press briefing on Wednesday, May 5, on the April 2026 Inflation Report. PSA is scheduled to release 2026’s first quarter GDP data on Thursday, May 7, 2026. With a report from Bless Aubrey Ogerio

due to the ongoing regional conflict, Lapid said, “We’re looking at how we can do self-sustaining projects, like we have ongoing talks with LGUs on say, how to finish these water sewerage treatment facilities as these are investments.”

Tieza is also speeding up the privatization of its properties “and see who wants to do PPP [public-private partnerships] with us,” which, he added, will also help in case the travel tax is finally removed. In their hearings, lawmaker have assured Tieza of continuing funds from the General Appropriations Act but have not identified the specific source to continue these vital tourism infrastructure projects. Ma. Stella F. Arnaldo

Economy

LTFRB orders 21 TNVS to explain discrepancies in number of drivers

By Lorenz S. Marasigan @lorenzmarasigan

THE Land Transportation Franchising and Regulatory Board (LTFRB) said on Monday it has issued show cause orders against 21 Transport Network Companies (TNCs), as it investigates discrepancies in the number of Transport Network Vehicle Service (TNVS) drivers listed as fuel subsidy beneficiaries.

LTFRB Chairman Vigor D. Mendoza II said the SCOs were issued to determine whether the “bloated” beneficiary count resulted from deliberate manipulation or negligence.

“ We want to ferret out the truth in relation to this incident. Is there a deliberate attempt to increase the

number of beneficiaries on their part, or is this a case of negligence and incompetence to comply with the LTFRB order,” Mendoza said, adding that the investigation would dig deeper into the discrepancy. Under the SCOs, the 21 TNCs must explain under oath why their

ERC: Current pricing system

By Bless Aubrey Ogerio

THE Energy Regulatory Commission (ERC) defended its pricing and auction framework for renewable energy projects during a policy dialogue with the Philippine Competition Commission (PCC), saying current methods are designed to balance investor participation with consumer protection.

T he discussion followed a competition impact assessment of the government’s Green Energy Auction Program (Geap), which reviewed how auction rules and pricing mechanisms affect market competition and electricity costs.

T he PCC earlier consulted the Department of Energy on the same assessment in January before convening the consultation with the ERC in March.

A t the center of the dialogue was the way green energy auction reserve (GEAR) prices are set, amid concerns that benchmarks must reflect current market conditions to attract bidders.

“ While [we] utilize a discounted cash flow model with over 40 parameters, the methodology is designed to be transparent and reflects maturing technology costs to prevent over-recovery and protect consumers from inefficiencies,” the commission said.

The ERC has finalized the GEAR prices for the fourth Geap set in September last year, with rates of P5.68 per kiloWatthour for rooftop solar, P4.4832/kWh for groundmounted solar, P6.5258/kWh for floating solar, P6.0869/kWh for onshore wind, and P5.4028/kWh for

By Jovee Marie N. Dela Cruz

solar with energy storage systems. (See: https://businessmirror.com. ph/2025/06/16/erc-sets-pricesfor-auction-of-renewable-energyin-sept/)

ERC Chairman Francis Saturnino Juan said the auction outcomes are assessed not only by price levels but also by whether winning projects are delivered and translate into reasonable electricity rates. Juan added that reserve prices are intended to strike a balance between affordability for consumers and financial viability for developers.

M oreover, the dialogue also examined the program’s per-grid auction structure, which segments bidding by geographic area.

T he PCC flagged this as a potential constraint on participation, but the ERC maintained that the approach is necessary to ensure grid stability and avoid excessive transmission costs.

For Juan, concentrating projects in a single location could strain infrastructure and drive up capital expenditures that would eventually be passed on to consumers. Transparency in auction rules was another issue raised, particularly whether price caps should be disclosed.

T he PCC noted that withholding such information could reduce risks of collusion, but the ERC said public disclosure is required under existing rules to ensure due process in rate-setting.

The review forms part of broader efforts to refine the GEAP, which supports the country’s targets of increasing the share of renewable energy in the power mix to 35 percent by 2030 and 50 percent by 2040.

authority to operate should not be suspended or revoked.

T he LTFRB cited two specific offenses: onboarding vehicles in their applications that lack LTFRB authority to operate as TNVS units, and failing to retain the original units on their platforms, with those units either migrating to other platforms or ceasing operations altogether—resulting in service abandonment.

T he TNCs were also directed to submit to the LTFRB the list of drivers they had submitted to the Department of Social Welfare and Development (DSWD), along with the corresponding plate numbers of their vehicles.

A hearing is set for May 14, at which the heads or authorized representatives of the affected TNCs must appear.

T he issue surfaced when LTFRB personnel and other government workers verifying fuel subsidy beneficiaries found that the number of TNVS driver-beneficiaries of the government’s subsidy was “irregularly high.”

The discrepancy in the number of TNVS beneficiaries traces back to the government assistance program rolled out under a presidential directive to cushion transport workers from the impact of rising oil prices linked to the Middle East conflict.

The program was intended to cover more than 245,000 drivers across all public utility vehicle modes—including TNVS operators and drivers.

W hen the Department of Social Welfare and Development and the LTFRB began cross-referencing the lists submitted by TNCs against their records of franchised vehicles and authorized drivers, they found the number of TNVS beneficiaries to be irregularly high—far exceeding what the regulatory framework could account for.

At Senate and House of Representatives hearings, officials from some of the TNCs explained that a single vehicle—whether a car or a motorcycle—may have more than one driver, similar to the practice in the jeepney or bus industries.

They explained that under the

current regulatory framework, a Certificate of Public Convenience (CPC) or Provisional Authority (PA) is attached to the vehicle, not to the individual driver.

They added that in a gig economy model where a single franchised vehicle can have multiple authorized drivers operating it at different shifts, the number of active driverpartners will naturally exceed the number of franchised units.

At a Senate hearing last week, Transportation Secretary Giovanni Lopez said he ordered the LTFRB to halt the onboarding of new TNVS units and motorcycle taxi riders, except for those already holding valid franchises.

L opez also prohibited on-thespot and same-day onboarding activities without prior LTFRB approval, and said he was studying possible penalties and fines against TNCs and motorcycle taxi platform providers found to have exceeded their authorized driver limits.

Mendoza vowed to expedite the proceedings and impose sanctions on those found liable.

Is AI affecting the future of our young generation?

By Henry J. Schumacher

T looks like it:

ICollege students are changing their majors due to AI!

Nearly half of college students say they’ve spent a meaningful amount of time thinking about changing their major because of AI, and about 1 in 6 have already done it. That’s a pretty aggressive response to something that, at least so far, hasn’t actually played out in the way people keep describing it.

Share of students who changed their studies due to AI (share of all students):

n Vocational - 26%

n Technology - 25%

n Business - 19%

n Engineering - 18%

n Social sciences - 17%

n Humanities - 13%

n Healthcare - 9%

n Natural sciences - 9%

The source of this information is Axios

I f you look at what AI can do right now, it’s not replacing jobs in clean, obvious chunks. It’s just getting better at pieces of them. Now I have to admit that this interesting information is not from the Philippines. But I am sure, students in the Philippines are also worried about the influence of AI on their studies, as you will see further down in my column.

Students don’t really have the luxury of waiting to see how that this shakes out. If you’re in school in here just right now, you’re making decisions based on what you think the market will look like in a few years, not what it looks like today. And right now, the signal

you’re getting is a mix of “learn this immediately” and “this entire category of work might not exist,” often in the same conversation. That shows up in the data. Students in tech and vocational tracks—the ones closest to all of t his—are the most likely to reconsider what they’re doing. At the same time, employers are already asking about AI skills far more than they were even a year ago, which only reinforces the idea that you need to adjust early.

Colleges are kind of split on it. Some are pushing students to use AI; others are still discouraging it, leaving people to figure it out on their own anyway. So…you ultimately get this weird timing mismatch where the job market is still in transition, but the people heading into it are already making decisions like that transition has fully happened. Whether that ends up looking smart or premature just depends on how fast things actually change.

W hile these trends and the numbers were collected in the US, I am s ure that the youngsters here are also worried about what AI is going to do to their studies and the selections of topics they have chosen.

A t the heart of the agenda is the

House pushes ‘airtight’ Kalinga Act

is not divided by committee jurisdiction,” he added. The LEAD hearings are now entering a phase where the 13 committees will focus on their respective areas of expertise, gather recommendations, and consolidate them into the final version of the Kalinga bill.

T he bill is expected to establish a whole-ofgovernment response system that can be triggered by sharp increases in fuel prices, extraordinary inflation, low fuel supply levels, or the declaration of a national energy emergency.

“ When fuel prices move, the burden does not stay at the gasoline station. It travels to the jeepney route, the sari-sari store, the wet market, the electricity bill, and the dinner table,” Dy said. That is why the House asked many committees to work together, because the life of an ordinary Filipino

idea of “re-industrialization”: Existing industrial capabilities are to be s hifting towards AI, biotechnology, quantum computing, and novel materials—leading to business models t hat don’t even exist yet.

Given the focus on the Knowledge Industry, we have to embrace AI or be left behind. Consequently, it is not enough to teach our students how to use AI. We must teach them how to ask better questions, synthesize information, a nd create original thoughts with it. To meet the global competition, the Philippine education system must evolve to meet this challenge. We must invest in training teachers to harness AI tools in the classroom and build curriculum around using AI responsibly, not just consuming it passively.

Please understand that your future of work is already being shaped in classrooms, long before the first job begins.

A s I have outlined in many articles before, it starts with internships and ‘learning by doing’. Students will have to test what they know against what the potential employers demand.

I nstead of asking whether AI will replace us, the better question is, how do we harness it in the ways that empowers us to become ready to thrive with AI.

I n conclusion, let’s support our youngsters to make the right decision. You don’t have to become a coder or engineer. But you do need to become tech-literate. Tech-literate youngsters ask smarter questions, follow business trends locally and internationally and take innovation seriously.

I a m super interested in your views regarding this topic; please contact me at hjschumacher59@gmail.com

Ctours

By Carmel Pedroza

EBU CITY—Cebu has further cemented its reputation as a premier destination for English as a Second Language (ESL) education, with Arab countries now joining its growing list of international source markets.

Th is development came during the successful staging of the Cebu Association of Language Academy (Cala) Grand Familiarization Tour (FamTour) 2026 held late April.

S ome 100 international education agents, including three study-abroad consultants from Saudi Arabia, attended the event, marking a significant step in expanding Cebu’s ESL reach into the Middle East and North Africa.

Th is initiative was supported by Cala member schools and the Department of Tourism in Central Visayas (DOT-7).

The weeklong tour culminated in a gala night attended by Gov. Pamela Baricuatro, who highlighted Cebu’s unique advantage as both a learning destination and a cultural hub.

Cebu has long been known as a strong destination for English learning. But beyond that, we are also a place of rich culture, beautiful islands, and warm, genuine people,” the governor said, encouraging participants to promote Cebu not only as a study destination but also as an investment and tourism hub.

The officer-in-charge of DOT’s Central Visayas Regional Office (DOT-7), Gelena Asis-Dimpas, identified Arab nations as an important emerging market for ESL, complementing Cebu’s established student base from Asia, including Japan, Taiwan, South Korea, China, Vietnam, Thailand, and Mongolia. She emphasized that sustained growth in the ESL sector depends on strong coordination among government agencies such as the Department of Tourism, Bureau of Immigration, Technical Education and Skills Development Authority (TESDA), Mactan-Cebu International Airport Authority, and local government units.

Data from Cala show continued growth in ESL enrollment.

From February 2025 to January 2026, Japan led with 7,106 students, followed by Taiwan with nearly 5,000, South Korea with 2,761, and China with close to 2,000.

I n total, Cala member schools welcomed nearly 19,000 students during the period.

Th is upward trend reflects the success of coordinated efforts among stakeholders and strong local government support, according to Dimpas.

Participants in the FamTour cited Cebu’s affordability and quality of education as major advantages.

A bdulkader Ahmed Fadak of Saudi Arabia-based NewAbeer described Cebu as offering “really good value” for ESL learners. He pointed to Filipino hospitality and the population’s high level of English proficiency as factors that help students adapt quickly. The availability of one-on-one instruction in Cebu-based language schools was also highlighted as a key feature that accelerates learning.

Beyond academics, Cebu’s appeal lies in its diverse tourism offerings.

T he province combines a cosmopolitan lifestyle, vibrant food scene, and rich cultural heritage.

He added that the hearings must result in a Kalinga Act that is both compassionate and disciplined—generous enough to protect the public, yet structured to ensure that assistance is targeted, timely, and fiscally responsible.

D y underscored that the House initiative is meant to strengthen the capacity of President Marcos to respond to crises, rather than merely criticize agencies after problems escalate.

This is how Congress should function in times of crisis: listen broadly, study carefully, and craft laws that equip the Executive with the tools to protect the people before damage spreads,” he said.

Dy said the final measure must clearly define the types of assistance to be provided, when these should be activated, who should benefit, and how agencies should coordinate without delay. He stressed that the House aims to craft a law that eliminatesconfusionduringcrisesbysettingcleartriggers, responsibilities, and assistance mechanisms for both vulnerable sectors and the middle class. According to Dy, the bill must recognize that economic shocks now affect all income groups—hitting the poor first and hardest while also straining workers, small entrepreneurs, and families often not covered by traditional aid programs.

Nearby Bohol, a United Nations Educational, Scientific and Cultural Organization (Unesco) Global Geopark, adds eco-cultural experiences that enhance the overall student journey.

O fficials say initiatives like the Cala FamTour play a vital role in positioning Cebu as a global education hub while driving tourism and economic growth.

T he provincial government reaffirmed its commitment to supporting programs that connect Cebu to international markets and create opportunities for

communities.

Cebu taps Arab market for ESL education

House Justice panel approves raps vs VP

By Jovee Marie N. Dela Cruz | @joveemarie

THE House Committee on Justice on Monday approved the impeachment of Vice President Sara Z. Duterte, with all 55 members present, and expressed support for the adoption of the committee report, resolution, and Articles of Impeachment following weeks of hearings and review of documentary evidence.

The panel found probable cause, concluding that the evidence on record meets the constitutional threshold for proceeding. The approved report and accompanying Articles of Impeachment will now be transmitted to the plenary for deliberation and voting.

Deputy Speaker David Suarez moved for the approval of the committee report, which was seconded without objection. In its report, the committee formally recommended the adoption of the resolution outlining the Articles of Impeachment, along with its findings and conclusions on the allegations against the Vice President.

Justice Committee Chairman

Gerville Luistro announced that all 55 members physically present supported the motion, declaring its unanimous approval.

T he report consolidates complaints deemed sufficient in form and substance and outlines multiple grounds for impeachment, including culpable violation of the Constitution, bribery, graft and corruption, other high crimes, and betrayal of public trust.

Let it be placed on the record that 55 out of 55 Justice [committee] members physically present manifested their support for the approval of the committee report and the attached resolution setting forth the Articles of Impeachment,

Socmed spreads fake news on Sara impeachment Sotto

AMEMBER of the House Committee on Justice on Monday questioned the authenticity of a circulating social media list claiming that several lawmakers have withdrawn support from the impeachment move against Vice President Sara Duterte.

Party-list Rep. Terry Ridon of Bicol Saro said the list being shared online should be treated with skepticism, especially after it included the name “Bier Rodriguez,” which he said does not correspond to any member of the House of Representatives.

He also dismissed the circulating document, saying, “Withdrawal is fake news.”

The list, which has been amplified by some pro-Duterte bloggers and supporters, allegedly names 15 House lawmakers who supposedly withdrew their support from the impeachment complaint, including members of the House Committee on Justice.

T he development comes amid ongoing online discussions suggesting that the impeachment campaign against Duterte is struggling to secure the constitutionally required one-third vote in the House of Representatives needed to transmit the Articles of Impeachment to the Senate for trial. According to reports circulating on social media, some lawmakers allegedly pulled out as authors or co-authors of the impeachment resolution just few weeks before the House is expected to vote on it in plenary.

On Monday, the House Committee on Justice approved the impeachment of Duterte, with all 55 members present, expressed support for the adoption of the committee report, resolution, and Articles of Impeachment following weeks of hearings and review of documentary evidence.

The panel found probable cause, concluding that the evidence on record meets the constitutional threshold for proceeding. The approved report and accompanying Articles of Impeachment will now be transmitted to the plenary for deliberation and voting.

B atangas Rep. Gerville Luistro, chair of the Justice Committee, said that the House plenary could tackle on May 11 the decision on whether to adopt or reject the committee report.

Jovee Marie N. dela Cruz

as amended. The chair, therefore, declares the motion unanimously approved,” said Luistro.

L awmakers traced the case to four complaints filed in early February by France Castro, Francis Joseph Aquino Dee, Joel Saballa, and Nathaniel Cabrera. The panel accepted the withdrawal of one complaint and set aside another for violating the one-year bar rule, proceeding with the remaining complaints, which were later affirmed as sufficient by a 54-1 vote.

On March 16, Duterte submitted her consolidated verified answer, while complainants waived their right to reply, allowing the committee to move forward in determining probable cause. By March 18, the panel unanimouslyfoundsufficientgrounds to proceed with impeachment.

Luistro said the committee relied on testimonies, audit findings, and financial records presented during the hearings, emphasizing that members had thoroughly examined the evidence.

The Articles of Impeachment cite several allegations, including the misuse and irregular liquidation of confidential funds amounting to at least P500 million in the Office of the Vice President and P112.5 million in the Department of Education; failure to fully disclose assets in her Statements of Assets, Liabilities, and Net Worth (SALN); bribery and corruption involving subordinate officials; alleged solicitation of violent acts against government

officials; and acts of political destabilization and abuse of power.

The report also references findings from the Commission on Audit and financial data flagged by the AntiMoney Laundering Council, as well as testimonies from forensic document examiners and government auditors.

A mong the evidence presented were testimonies on large cash movements through informal channels, allegedly fabricated receipts and liquidation documents, certifications indicating nonexistent recipients, audit findings ordering the refund of millions of pesos, and reports of billions of pesos in transactions linked to accounts under scrutiny.

T he committee also cited discrepancies between Duterte’s declared assets in her SALN and financial data presented during the hearings.

It noted that a sealed box of tax records submitted by the Bureau of Internal Revenue was not opened owing to legal constraints, with the panel deeming existing evidence sufficient at this stage.

W ith the approval of the committee report, the case now advances to the plenary.

If at least one-third of all members of the House of Representatives of the Philippines vote in favor, the Articles of Impeachment will be transmitted to the Senate, which should convene as an Impeachment Court under Constitutional mandate “forthwith.”

to endorse impeach complaint vs Duterte to colleagues ‘forthwith’

By Butch Fernandez @butchfBM

SENATE President Vicente Sotto III vowed on Monday to endorse to his peers “forthwith” the impeachment complaint against Vice President Sara Duterte, citing as example that if his estimate holds true that the House of Representatives in plenary sessionb votes on it on May 11, he can table it the next day, or May 12 and convene the Senate as an Impeachment Court. However, he conceded it is still possible that some quarters may attempt to block the trial. He asserted, however, that nothing can stop the chamber from doing its constitutional duty to convene immediately as an Impeachment Court and open the trial of the Vice President, who won a legal challenge at the Supreme Court last year against the House of Representatives. Sotto also clarified that there is nothing in the Senate rules that compels the impeached official to attend trial, noting that then President Joseph Estrada had skipped his in December of 2000, but it was cut short by January owing to People Power II that resulted in Estrada’s “creative resignation.”

However, then Chief Justice Renato Corona attended his trial in 2012. In a radio interview on Monday, Sotto also explained that there is no contradiction between the SC’s earlier

definition of “forthwith” as immediate and its subsequent ruling defining action on an impeachment complaint as “within a reasonable time.”

“Ang ibig nilang sabihin doon sa  within reasonable time— basahing mabuti ng mga namimintas‚— is the trial proper, not the convening.  Ang forthwith  sa akin na dapat, eh itawag mo kaagad. Ngayon the trial proper is within reasonable time,” Sotto said.

[What the justices meant with reasonable time—and critics should pay attention—is the trial proper, not the convening. To me, forthwith should be, to call the senators to convene as a court right away. But the trial is within a reasonable time].

So the latest Supreme Court decision is not in contradiction “with what...we have been saying, that forthwith is immediately.”

He continued: “No. Forthwith immediately natanggap ko, I will take the proper action that a Senate President must do. Therefore, that’s it. That will set off the sequence”: advisories will be sent, members of the impeachment court will wake their oath, and the court will sent the impeached official a copy of the impeachment, “give them at least 10 working days, non-extendable.”

A fter the impeached official replies, this is sent to the prosecution so it can make a reply, “and give

them again five working days nonextendable. That is the process. So that is “within reasonable time.”

Once all the papers are in, a pretrial can be held, he added.. Sotto said a pretrial is a must because of the Corona impeachment experience. “We received the complaint in December, the Chief Justice sent a reply on Dec 26; we began the trial proper January 16. When February came, there were many arguments in the presentations because there was no pre-trial,” Sotto recalled, speaking partly in Filipino.

Then Senate President Juan Ponce Enrile told Sotto, the majority leader, that, “wait, let’s hold a pretrial” in the middle of the trial proper “because things were turning chaotic.”

Th at cannot be, there shouldn’t be any surprises, Sotto stressed. “That’s why there are cases of people or evidence suddenly being introduced,” I n the Duterte impeachment, “based on the experience, we will have a pre-trial first before the trial proper. This is part of our rules, to the Rules of Court are suppletory.”

The pre-trial is held, he explained, for the markings of evidence, determination of witnesses in order to expedite the case and manage the court. That is the thing to do. In his estimate, for as long as the pretrial does not drag, there could be a trial proper by the “middle of June, or at the latest last week of June.”

Sotto wants dela Rosa to explain ‘AWOL’

ENATE President Vicente

SSotto III on Monday said he would recommend asking Sen. Ronald dela Rosa to explain his side on a complaint filed before the Senate Committee on Ethics and Privileges.

Sotto said he would suggest to the panel, chaired by Sen. Joseph Victor Ejercito, that dela Rosa be required to respond to the allegations.

Isa -suggest  ko na hingan si  Senator Bato  ng eksplanasyon Kumbaga sa ano  [I will suggest that Senator Bato be asked for an explanation. In effect), show cause why we should not follow or give in to the complaint,” Sotto said in a chance interview after leading the flag raising ceremony as the Senate resumes its regular session. He clarified that the move is only a recommendation, noting that he is not the committee chairman but serves as an ex officio member.

Sotto likened the proposed action to the issuance of showcause orders to individuals who fail to attend Senate hearings, stressing the need for due process.

He said there is still no decision on the request to suspend dela Rosa’s salary and allowances, adding that the senator has yet to communicate and reach out to him.

The complaint, described as a first-of-its-kind case focusing

on the legislative impact of a senator’s prolonged absence, was filed on February 25 this year by the anti-corruption group Wag Kang KuCorrupt, led by former Finance undersecretary Cielo Magno. The g roup argued that dela Rosa’s failure to report for work since November 11, 2025 constitutes a dereliction of duty and grave abuse of public trust, citing continued receipt of salary and allowances despite months of absence.

D ela Rosa started his no show at the Senate after then Justice secretary Jesus Crispin Remulla announced that the International Criminal Court has already issued an arrest warrant against him.

H aving been the chief enforcer of former President Rodrigo Duterte’s bloody war on illegal drugs, dela Rosa was included on the list of individuals included in the complaint for crimes against humanity at the ICC.

D espite his pronouncements before that he would go to jail with Duterte should there be complaint later on in connection with the killings during the war on drugs, dela Rosa promptly disappeared after Remulla announced that there was a warrant for his arrest.

D uterte was arrested and turned over to the ICC last year. With PNA

Snipers kill SAF trooper, wound 4 others in Lanao ambush

STILL unidentified gunmen attacked policemen who were serving a warrant of arrest leaving one dead and four others wounded in Lanao del Sur on Monday, police said.

C apt. Steffi Salanguit, speaking for the Police Regional OfficeBangsamoro Autonomous Region (PRO-BAR), said police from the Buadipuso Buntong municipal police station were serving a warrant of arrest against Sukair Diongcat for murder and attempted murder when the incident happened.

A s the police arresting team approached the village of Lumbak, sniper fire from different directions met them, triggering a firefight at about 11 a.m.

Govt agencies on heightened Mayon relief operations

By Jonathan L. Mayuga | @jonlma-

G. Reyes

yuga & Nonie

GOVERNMENT agencies are heightening relief operations in Albay, following the eruption of Mayon Volcano. On Monday morning, the Office of Civil Defense (OCD) reported that massive ashfall from Mayon Volcano over the weekend has affected at least 30,522 families in 87 barangay in the region. I n a message to reporters, OCD deputy spokesperson Diego Mariano said the number is equivalent to 102,406 persons, citing data coming from OCD Region 5 (Bicol) “O f these, 1,438 families [333 families were evacuated last May 2] or 5,440

persons are currently inside evacuation centers, while 26 families or 85 persons are being assisted outside evacuation centers,” Mariano added.

He said all forms of assistance, services, and needs of the evacuees are being continuously provided by the local governments, together with national government agencies.

M ariano added that the OCD, as the implementing arm of the National Disaster Risk Reduction and Management Council, is ensuring the wholeof -government response to the ongoing unrest of Mayon Volcano, in compliance with the orders of President Marcos to immediately assist calamity-hit families.

M ariano said OCD Region 5 is “continuously [conducting] the coor -

dination, monitoring, and response o perations on the affected areas to ensure the safety and welfare of affected communities.”

Th is includes deployment of water trucks, rollout of water filtration s ystems, provision of essential items such as N-95 masks and malongs (wraparound skirt), and clearing operations to keep roads passable, which are continuously conducted, he added. Meanwhile, Presidential Peace Adviser Mel Senen Sarmiento instructed t he Office of the Presidential Adviser on Peace, Reconciliation, and Unity (Opapru) to closely coordinate with the Department of Social Welfare and Development and LGUs to ensure that former New People’s Army combatants

and non-combatants are provided immediate support following the eruption.

To ensure timely and targeted response, Opapru field teams were actively validating who among the former rebels and their families have been affected by the volcanic activity.

R ecords show there are currently 42 former rebel combatants recognized by the Joint Armed Forces (AFP)-National Police (PNP) Intelligence Committee and 15 former rebels’ Peoples Organizations composed of 403 non-combatant members in Albay.

He assured that all emergency relief and socio-economic support will be systematically tracked and channeled through official government networks to maximize efficiency.

Salanguit said five injured police officers were rushed to a hospital in Marawi City. One of them, Cpl. Kelvin D. Francisco, a member of the National Police (PNP) Special Action Force, later died. The four wounded policemen are now in stable condition, Salanguit said. They are Capt. Mark Bryan Tamid-ay, Pat. Presley Baguiwan and Cpl. Rexil Mejos, all SAF troopers, and Cpl. Taha Saripada of the Police Special Operations Group of the Lanao del Sur Provincial Police Office. P ursuit operations against the assailants are ongoing. Col. Caezar Cabuhat, Lanao del Sur provincial police chief, led reinforcement units in pursuing the lawless elements, Salanguit said. PNA

“O ur objective is clear: We must be seen and felt as an institution that truly empathizes and genuinely cares,” Sarmiento said.

Evacuation, road-clearing PRESIDENT Marcos said ongoing government evacuation and road-clearing efforts in Albay has helped reduce the impact of the heavy ashfall from Mayon volcano. We are able to minimize the effects of the ashfall that is going into populated areas,” the Chief Executive told reporters at the sidelines of the inauguration of the Cavite-Laguna Expressway Project Subsection 3 on Monday. He said he has called Albay Gov. Noel Ebriega Rosal to assure the local official to assure him the national government will provide his province with the needed support.

The Nation

Congressman seeks probe of ‘peddler of fake news’

Jovee Marie N. Dela Cruz | @joveemarie

ALAWMAKER on Monday filed

House Resolution 980 seeking a congressional inquiry into the alleged disinformation activities of Peanut Gallery Media Network (PGMN), while also urging a thorough review of its tax compliance and possible tax evasion, in support of the ongoing anti-fake news campaign of the House leadership.

Air Logistics chief flies ‘champagne flight’

IPA CITY, Batangas—Maj.

LGen. Dennis Estrella, chief of the Air Logistics Command, flew his final ceremonial sortie Saturday as part of the Air Force’s (PAF) “champagne flight” tradition ahead of his retirement later this month.

E strella flew a Cessna T-41 “Mescalero” primary trainer over Rosario, Batangas, with Maj. John Paul Villas, commander of the Pilot Training Squadron, as copilot.

T he champagne flight, a long-standing military aviation tradition, signifies a pilot’s transition from active flying duty to retirement.

The ceremony at Fernando Air Base included a logbook signing, flight clearance signing and a ceremonial dunk following the flight.

A fter landing, Estrella received a certificate of last flight as a military aviator and a record of his completed sortie, formally marking the end of his flying career for the PAF.

“ This flight marks not just an end, but a new beginning, an opportunity to reflect on a career dedicated to service, excellence and faith,” he said.

Estrella earned his wings with the PAF’s Under Pilot Training Class of 1993 Bravo after graduating from the Philippine Military Academy in 1991.

During his career, he served in various capacities under Presidents Fidel V. Ramos, Joseph Estrada, Gloria Macapagal-Arroyo and Benigno Aquino III.

H e currently leads the Air Logistics Command at Clark Air Base which supports military operations through maintenance, supply, engineering and procurement.

Among those present at the champagne flight were Maj. Gen. Jesus Nelson Morales, commander of the Air Education and Training Command; Col. Cecilia Frias, commandant of the PAF Flying School; Brig. Gen. Pedro Agapito, deputy commander of the Air Education and Training Command; members of Philippine Military Academy Class of 1991 and Under Pilot Training Class of 1993 Bravo; and Estrella’s family.

Staff Sgt. Shermilyn de Torres, who has served in the command for eight years, described Estrella as a leader who uplifts personnel.

He’s the best when it comes to leadership and discipline,” she enthused. “He really boosts morale and even supports our mental health. You will learn a lot from him. He helps us in everything.”

Estrella is also scheduled to undergo a recurrency flight with the Presidential Airlift Wing on May 12. Ashley J. Manabat

Party-list Rep. Terry L. Ridon of Bicol Saro said the resolution directly supports the Speaker Faustino Dy III’s call to confront fake news, but goes further by targeting the structure, operations, and financial accountability of entities engaged in organized disinformation.

This is in full support of the Speaker’s fight against fake news—but we must go beyond content and examine the operations behind it, including how these are funded and whether they are compliant with tax laws,” Ridon said.

The lawmaker said that the inquiry will not only address misleading content, but also the business and

financial activities of those behind such operations, including owners, partners, and affiliated entities.

“If these disinformation operations are monetized—and there are strong indications that they are—then the question is simple: are they properly declared, taxed, and regulated?” he said. “Otherwise, this raises serious concerns of tax evasion.”

The resolution cites viral content attributed to PGMN showing a supposed surge in electricity bills, which upon closer examination featured different Customer Account Numbers (CANs)—raising serious concerns of deliberate

misrepresentation.

For ordinary Filipino households already burdened by high electricity costs, this is not just irresponsible—it is deceptive,” Ridon said. “Real issues should not be exploited through fabricated or misleading content.”

R idon emphasized that the inquiry will also determine whether such activities form part of organized and systematic disinformation operations designed to manipulate public perception on critical national issues.

T he resolution calls for coordination with the National Bureau of Investigation (NBI), the Bureau of Internal Revenue

(BIR), and other relevant agencies to determine possible violations of law, including those relating to disinformation, unlawful business practices, and tax compliance. We will not allow legitimate public concerns to be weaponized by disinformation networks,” Ridon said. This is about protecting the public—not only from fake news, but from coordinated operations that exploit real issues for influence, profit, or manipulation,” he added.

T he resolution is expected to be referred to the House Committee on Public Information for appropriate action.

Delfin Lee to Pag-IBIG: Return my P630 million

By Ashley J. Manabat

ANGELES CITY—Developer

Delfin Lee is seeking the return of P630 million held in escrow by the Home Development Mutual Fund (Pag-IBIG Fund), following the dismissal of a long-running estafa case tied to his company’s housing projects. L ee, chairman of Globe Asiatique Realty Holdings Corp. (GA), said the funds have remained with Pag-IBIG for nearly 15 years despite court

THE impeachment of Vice President Sara Z. Duterte in the House is now “all but certain,” with the one-third threshold of 106 votes seen as within reach as the case moves from the Justice committee to the plenary for deliberation and voting.

L awmakers said the impeachment case has been streamlined into four articles of impeachment that still encompass all the grounds raised against Duterte. They added that even a single conviction in the Senate would be enough to remove her from office and permanently disqualify her from holding any public post.

Party-list Rep. Terry Ridon of Bicol Saro, chairman of the House Committee on Public Accounts and a member of the House Committee on Justice, said the chamber is expecting swift action once the measure reaches the plenary.

“ We expect the Vice President to be impeached next week. So the 106 votes are all but certain,” Ridon, a lawyer, said. He added that the Justice committee has already finished its work and the matter is now in the plenary stage, where members will debate and vote on the articles of impeachment. The voting in committee is done. We will

Mayon…

Continued from A4

D uring the weekend, Malacañang announced the President has mobilized concerned government agencies to coordinate with local government units to provide aid to the people in affected communities prioritizing their health and safety.

M arcos said he has already received initial reports from the Department of Health (DOH), Department of Public Works and Highways (DPWH), as well as the Department of Social Welfare and Development (DSWD). The first concern of course was the health concerns. And we were able to bring out the people who were in the danger area. We were able to support them with medical medical attention,” he said.

DOH disclosed it was able to distribute N95 masks and deployed mobile clinics and water stations to address respiratory concerns in the ashfall-affected areas.

A s for DSWD, he said, the agency provided food and other essential support to the evacuees. It was able to distribute 59,153 family food packs, hot meals, and hygiene kits from residents in Tabaco City, Camalig, and Malpot during the weekend.

M arcos said the DPWH is also expected to open soon roads, which were covered by ashfall.

I think we’ll be able to say that the thoroughfares will be open probably by today as long as [Mayon volcano] does not release [more ash],” he said.

DSWD relief operations

THE Department of Social Welfare and Development (DSWD) has distributed more than P117 million worth of humanitarian assistance to families affected by t he ongoing unrest of Mayon Volcano as part of its sustained response operations

rulings that he said cleared him and his company of wrongdoing.

“If you compute that amount from before 2010 up to now, it would already exceed P1 billion. That would be a big help if it were returned so I could start again,” Lee said.

“ You cannot develop low-cost housing without Pag-IBIG as a partner. They play a pivotal role because they provide affordable financing,” he added.

O n February 25, The Regional Trial Court in Pampanga dismissed

the criminal case against Lee and his co-accused after granting their demurrers to evidence, ruling that prosecutors failed to prove that they committed estafa.

The decision adds to a 2018 ruling by the Supreme Court affirming a 2012 judgement of the Regional Trial Court in Makati that found GA entitled to specific performance and damages in its civil case against Pag-IBIG.

Despite these rulings, the escrow fund which was set up as a buyback

guarantee for defaulting homebuyers under GA’s Xevera projects, has yet to be released.

Court records show GA agreed to stricter financing terms with Pag-IBIG including maintaining a 96 percent performing accounts ratio and repurchasing defaulted loans, Lee said. The Makati court earlier noted the arrangement initially worked, with replacement buyers accepted and accounts offset.

G A later alleged that Pag-IBIG stopped honoring these mechanisms,

All over but shouting at House?

go to the plenary this week,” Ridon said. The House Justice committee unanimously approved the committee report, resolution, and Articles of Impeachment on Monday, following its earlier finding of probable cause in the complaints against Duterte.

Ridon also dismissed claims raised by the camp of lawyer Manases Carpio regarding an alleged correction in an Anti-Money Laundering Council (AMLC) report involving a Bank of the Philippine Islands transaction. He said the issue was already reflected in the committee report and did not affect the overall findings.

The report is there for everyone to see,” Ridon added. He maintained that the AMLC summary still placed total transactions at P6.7 billion.

Even assuming it became P2 billion from P20 billion, it is still in the billions,” he added.

Ridon said the alleged correction does not change the central issue of the scale of the financial transactions.

It doesn’t change the fact that the total

in the Bicol Region.

S ocial Welfare Assistant Secretary Irene Dumlao who heads the agency’s Disaster Response Management Group (DRMG) said that the department continues to deliver food and non-food items, p sychosocial support, cash-for-work (CFW), and emergency cash transfer (ECT) assistance to evacuees living near Mayon Volcano.

She added that Social Welfare Secretary Rex Gatchalian has ordered the i mmediate replenishment of family food packs in warehouses to ensure sufficient supply for affected communities.

“ Secretary Rex Gatchalian ordered on Sunday that the food packs released from our warehouses must be immediately replenished. This is in line with the d irective of President Marcos to prioritize the Bicol Region and ensure that sufficient resources are available for communities affected by the abnormal activities of Mt. Mayon,” Dumlao said.

Based on the May 3, 6:00 p.m. report of the Disaster Response Operations Information and Communication (DROMIC), the DSWD has provided 71,153 family food packs (FFPs), 7,634 non-food items (NFIs), and 1,402 ready-to-eat food (RTEF) packs to affected families.

For livelihood support, the department has also released more than P45 million in cash assistance to at least 3,487 farmers and evacuees whose income sources were disrupted due to the volcanic activity.

D umlao explained that the cash-forwork program was provided to farmers displaced in evacuation centers who continued performing light work such as farming in vacant areas within evacuation sites or tending to livestock.

The DSWD is currently coordinating with local government units (LGUs) in monitoring 1,444 families or 5,459 individuals who remain in 14 evacuation

transactions are still in the billions. It doesn’t change the fact that the inflows are still in the billions,” Ridon emphasized. He also questioned how the figures could align with the backgrounds of those involved.

How do you explain P6.7 billion in total transactions and P4.4 billion in net inflows? That is not the profile of the individuals involved,” Ridon said.

H e added that the only remaining question is the final number of votes the House w ill secure.

“It’s just a question of how many more votes we will get,” Ridon noted.

Ridon said there are already about 55 to 56 votes secured from committee proceedings alone, putting the House nearly halfway to the required 106 votes.

He also noted support from various political blocs, including members of the National Unity Party who voted for the committee report.

Ridon said that if the case reaches the Senate, House prosecutors will present the

centers in Camalig, Malilipot, Ligao City, and Tabaco City in Albay.

The department also reported that it maintains more than 1.6 million family food packs nationwide, with over 270,532 FFPs prepositioned at DSWD Field Office V (Bicol Region) ready for immediate augmentation to affected local government units.

Flight disruptions

THE Civil Aviation Authority of the Philippines, meanwhile, said that while flight restrictions specifically targets the immediate vicinity of Mayon’s crater, airline operators and general aviation pilots have been told to closely coordinate with Air Traffic Services. Several domestic flights to and from the Bicol region—primarily those utilizing the Bicol International Airport (BIA)—are being monitored for potential cancellations or rerouting if ash clouds drift into established flight paths.

Caap continues to closely monitor the situation in coordination with relevant government agencies to ensure the safety and security of air navigation,” the agency said in a statement.

Passengers traveling to or from the Bicol region are advised to check with their respective airlines for the latest flight status updates.

Cops help in Mayon response

THE National Police (PNP) on Monday said that it will deploy personnel to help in clearing operations and debris removal in communities heavily affected by the spewing of heavy ashfall by Mayon Volcano over the weekend.

Gen. Jose Melencio Nartatez Jr., National Police chief, said this is in response to President Marcos’s order to extend assistance to those affected by volcanic activity.

Nartatez also said the PNP will also provide emergency vehicles and relief convoys to maintain access to communi-

evidence to convince senators to convict.

“ We will convince them based on evidence,” he said, citing allegations involving confidential funds, unexplained wealth, and alleged threats against the president.

He said these issues include discrepancies in financial declarations and recorded transactions, as well as alleged statements against top government officials.

“ These are the pieces of evidence that we hope will convince the Senate to convict,” Ridon added.

One conviction enough

PARTY-LIST Rep. Leila de Lima of Mamamayang Liberal, also a member of the Justice committee and an endorser of one of the impeachment complaints, said the case has been condensed into four articles of impeachment while retaining all major allegations.

She explained that the committee report included only minor clerical and stylistic corrections, with one substantive addition

ties affected by Mayon Volcano’s ashfall. Likewise, the PNP chief also ordered the immediate deployment of policemen and equipment to the towns of Camalig, Guinobatan, and Ligao City to focus on clearing thick ash deposits that threaten to stall humanitarian efforts following the pyroclastic density current recorded on May 2.

“Our personnel are already on the ground since Day 1 of the volcano activity and we are continuously supporting c leanup operations in coordination with local government units and other agencies,” Nartatez said.

T he PNP chief also directed local police units from Police Regional Office (PRO)-5 to maintain a visible presence on ash-slicked roads where visibility dropped to near-zero levels.

O fficers used patrol lights and realtime advisories to guide motorists away from hazardous zones.

Aside from this, Nartatez confirmed that mobile units are now equipped with special-

refused replacement buyers and withheld titles, leading to the dispute.

L ee was charged in 2011 and detained for over four years before being allowed to post bail in 2018 after the Supreme Court downgraded the case to simple estafa.

W ith the latest dismissal, Lee is calling for resolution of the escrow issue and said its release would allow him to resume housing projects.

Pag-IBIG has yet to respond nor issue a statement on the matter.

concerning Duterte’s alleged failure to divest from a private business.

D e Lima cited records showing Duterte’s continued involvement in a company, which she said may raise constitutional concerns for public officials. She confirmed that the four articles of impeachment cover misuse or abuse of confidential funds; unexplained wealth; bribery and graft and corruption; and alleged threats linked to a supposed plot against top government officials. She explained that the articles were consolidated from earlier versions containing more charges to ensure clarity and coherence. All related allegations were consolidated into four articles,” she said. De Lima stressed that even a single conviction in the Senate would be sufficient to remove Duterte from office and permanently bar her from public service.

Even one article is enough,” she said. She expressed confidence in the strength of the case, citing evidence and the unanimous committee vote. The case is strong, supported by facts and evidence,” she said.  Jovee Marie N. dela Cruz

ized search and rescue tools and high-powered lighting for night operations.

Th is equipment upgrade allows teams to operate effectively in hard-to-reach areas where ash accumulation has blocked traditional routes.

Moratorium IN response to President Marcos Jr.’s call for a full government response to assist families affected by the eruption of Mayon Volcano, the Department of Human Settlements and Urban Development (DHSUD) ordered the imposition of a moratorium on housing amortization payments in Region 5 (Bicol).

Apart from the moratorium, Housing Secretary Jose Ramon Aliling also directed the DHSUD Regional Office 5 to closely coordinate with other government agencies, particularly with the Office of the Civil Defense, to ensure timely housing assistance to the affected Bicolanos. With Jovee Marie N. Dela Cruz and PNA

A6 Tuesday, May 5, 2026

Editor: Angel R. Calso

US-led task force tells ships to reroute on first day of new effort to reopen Strait of Hormuz

By Adam Schreck & Sam Metz The Associated Press

DUBAI, United Arab Emirates—

The United States on Monday kicked off an effort to “guide” stranded ships from the Iran-gripped Strait of Hormuz, as it tries to counter economic disruptions that outlasted the peak of fighting with no peace deal in sight.

A day after US President Donald Trump announced what he called “Project Freedom,” the Joint Maritime Information Center said Monday that the US had set up an “enhanced security area” south of typical shipping routes and urged mariners to coordinate closely with Omani authorities “due to anticipated high traffic volume.”

The strait sits between Iranian and Omani territory.

The center warned that passing close to the usual routes, known as the traffic separation scheme, “should be considered extremely hazardous due the presence of mines that have not been fully surveyed and mitigated.”

The US-led maritime task force’s announcement marked the start of the effort to revive traffic and restore confidence among commercial vessels transiting the strait. It risked unraveling the fragile ceasefire that has held even without progress on the issues that sparked the war launched by the US and Israel on Feb. 28.

It was unclear as of Monday morning whether any vessel had accepted the US offer and Iran’s military command told state broadcaster IRIB on Monday that ships passing must coordinate with them.

“We warn that any foreign military force—especially the aggressive US military—that intends to approach or enter the Strait of Hormuz will be targeted,” Major General Pilot Ali Abdollahi said.

The disruption of the waterway through which roughly one - f ifth of the world’s oil typically passes has become one of the most enduring consequences of the war. It continues to squeeze countries that depend on Persian Gulf supplies and added new volatility to energy prices for households and businesses worldwide.

Moves to resolve the war, which likely would a plan to return traffic to prior levels, are still in proposal and review phase, with no negotiations between the US and Iran underway.

New standoff over the Strait of Hormuz

ANNOUNCING the ship shepherding effort in a social media post Sunday, Trump promised “neutral and innocent” countries “that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business.”

US Central Command said the initiative would involve guidedmissile destroyers, more than 100 aircraft and 15,000 service members. The Pentagon did not answer questions about how they would be deployed.

Neither US officials nor Trump said whether “Project Freedom” would include military escorts through the Iran-controlled strait, leaving an element of risk for any tempted to chance it. The uncertainty has deterred ships and insurers from exercising their freedom of navigation and testing the

route, despite earlier US push to restart traffic.

Seafarers, many on oil tankers or cargo ships, have been stuck in the Persian Gulf since the war began, describing to The Associated Press seeing intercepted drones and missiles explode over the waters as their vessels run low on drinking water, food and other supplies.

“They are victims of circumstance,” Trump wrote, describing the effort as a humanitarian gesture “on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran.”

Trump also sounded a warning: “If, in any way, this Humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully.”

As more ships reported coming under attack Sunday, Iran’s state-run IRNA news agency called

Trump’s announcement part of his “delirium.” Ebrahim Azizi, head of the national security commission of Iran’s parliament, said on X that any interference in the strait would be seen as a ceasefire violation.

Trump spoke hours after Iran said it was reviewing the US response to its latest proposal to end the war and made clear these are not nuclear negotiations. The fragile three-week ceasefire appears to be holding.

Iran reviews US response to latest proposal TEHRAN is reviewing the US response to its latest proposal to end the war, Iran’s judiciary Mizan news agency cited Foreign Ministry spokesman Esmail Baghaei saying Sunday. But “at this stage, we have no nuclear negotiations,” Baghaei said. Iran’s nuclear program and

enriched uranium have long been the central issue in tensions with the US, but Tehran would rather address it later.

Iran’s proposal wants other issues resolved within 30 days and aims to end the war rather than extend the ceasefire, according to Iran’s state-linked media. Trump on Saturday said he was reviewing the proposal but expressed doubt it would lead to a deal.

Iran’s 14-point proposal calls for the US lifting sanctions on Iran, ending the US naval blockade of Iranian ports, withdrawing forces from the region and ceasing all hostilities, including Israel’s operations in Lebanon, according to the semiofficial Nour News and Tasnim agencies, which have close ties to Iran’s security organizations.

Iran stands firm

IRANIAN officials have vowed the strait won’t return to its prewar conditions and moved to impose charges on transiting ships, but the US has warned shipping companies they could face sanctions for paying Iran in any form. The US naval blockade since April 13 is depriving Tehran of oil revenue it needs to shore up its ailing economy. The US Central Command on Sunday said 49 commercial ships have been told to turn back.

“We think that they’ve gotten less than $1.3 million in tolls, which is a pittance on their previous daily oil revenues,” US Treasury Secretary Scott Bessent told Fox News on Sunday, adding that Iran’s oil storage is rapidly filling up and “they’re going to have to start shutting in wells, which we think could be in the next week.”

A MAN angles in the water, as bulk carriers, cargo ships, and service vessels line the horizon in the Strait of Hormuz off Bandar Abbas, Iran, Monday, April 27, 2026. RAZIEH POUDAT/ISNA VIA AP

OPEC+ agrees on symbolic quota hike as UAE touts oil investment

By Salma El Wardany, Grant Smith & Fiona MacDonald

MAJOR OPEC+ nations agreed on a modest and symbolic increase in their June production quota levels, as the group sends a businessas-usual message following the surprise exit of the United Arab Emirates. Abu Dhabi at the same moment touted its own growth plans. Seven countries led by Saudi Arabia and Russia will add 188,000 barrels a day next month under the agreement, which was finalized at a video conference on Sunday, OPEC said in a statement. A small increase was expected by delegates before the UAE exit. The actual restoration of those barrels will depend on the Strait of Hormuz being reopened and shuttered production being restored.

Still, the UAE reminded the world at the same time of its ambitions to boost production, a sticking point in its participation in OPEC going back years. The country’s flagship oil company Adnoc said that it’s planning to accelerate a growth plan with 200 billion dirham ($55 billion) in project awards spanning upstream and downstream operations. The expenditure was part of a bigger, already-announced program.

The UAE’s departure, which blindsided other members of the Organization of the Petroleum Exporting Countries and its partners, will further erode the group’s ability to influence oil prices that had already been waning because of years of output hikes from rival suppliers including US shale. OPEC’s statement made no mention of the UAE.

OPEC+ is formally pressing on with the process of restoring output halted several years ago, which had been in progress before the outbreak of war. OPEC+ is adjusting to the surprise loss of decades-long member the UAE, which announced its departure on April 28 and formally quit on May 1.

“OPEC+ is playing it cool,” said Jorge Leon, head of geopolitical analysis at Rystad Energy who previously worked at the OPEC secretariat. “By sticking to the same production path—just minus the UAE—it’s acting as if nothing has happened, deliberately downplaying internal fractures and projecting stability.”

One country raised the issue of the UAE’s withdrawal, and others responded by stressing the importance of the group’s cohesion, according to several delegates.

Separately, the UAE announced leaving the Organization of Arab Petroleum Exporting Countries, the organization said in a statement. OAPEC groups Arab members of OPEC and a few others including Syria and Egypt. Symbolic move

LIKE its scheduled hike for May, OPEC’s move is largely symbolic because member nations in the Middle East will be unable to implement the increase unless the Strait of Hormuz—blocked by the US-Israeli conflict with Iran—is reopened and exports from the Persian Gulf resume.

T he UAE’s departure was the culmination of years of tensions between Abu Dhabi and OPEC’s de facto leader Saudi Arabia, over both oil policy and competition for regional influence. The UAE said last week that the Iran war created an opportunity for it to exit without significantly adding to market volatility.

While the departure has no immediate impact on immediate oil supply, it will mean that the UAE can ramp up supply as quickly as it chooses once the waterway reopens, unfettered by OPEC quotas, and could set the stage for future price wars.

OPEC+ will next meet on June 7. With assistance from Nayla Razzouk/ Bloomberg

Taiwan president lands in Eswatini in trip delayed by lack of overflight clearance

TAIPEI, Taiwan—Taiwan’s President Lai Ching-te said he arrived in the African nation of Eswatini on Saturday, days after his government was forced to push back the trip when several countries withdrew permission for him to fly over their territories reportedly over Chinese pressure.

In a post on X, Lai said he arrived in Eswatini—Taiwan’s only diplomatic ally in Africa—to “affirm our longstanding friendship.” He said that Taiwan, a self-ruled democracy that China considers part of its territory, “will never be deterred by external pressures.”

Lai was originally scheduled to visit the southern African country from April 22, but Taiwanese officials said that flight permits were revoked by Seychelles, Mauritius and Madagascar over “strong pressure from the Chinese authorities, including economic coercion.”

In a separate Facebook post on Saturday, Lai wrote that the visit was made possible following careful arrangements by his diplomatic and national security teams. He said the trip will further deepen the friendship between Taiwan and Eswatini through closer economic, agricultural, cultural and educational ties.

“Our resolve & commitment are underpinned by the understanding that Taiwan will continue to engage with the world—no matter the challenges faced,” Lai wrote on X. Taiwan did not announce latest plans of Lai’s Eswatini visit prior to his arrival.

A spokesperson of China’s Ministry of Foreign Affairs said in a statement shortly after Lai posted on social media about his visit that he was “performing a laughable stunt in front of the world,” and referred to him being “smuggled” out of Taiwan.

Lai’s “undignified act” and visit “will always be a losing cause and nothing will ever change the fact that Taiwan is part of China,” the ministry said. “We urge Eswatini and some other individual countries to see where the arc of history bends and stop serving as the prop of ‘Taiwan independence’ separatists.”

Tuesday, May 5, 2026

‘Billions yearly for a decade’: Graft complaint filed vs DOTr, LTO officials over computer fees on motorists

By Lorenz S. Marasigan @lorenzmarasigan

AMULTISECTORAL group has filed a graft complaint before the Office of the Ombudsman against current and former senior officials of the Department of Transportation (DOTr) and the Land Transportation Office (LTO), targeting a computer fee scheme that allegedly generated billions of pesos annually for over a decade.

Coalition 169, the group behind the complaint, named as respondents current and former DOTr and LTO officials, alongside Anthony Quiambao, president of Stradcom

Corp., the private firm that operates the LTO’s information technology systems.

The complaint charges the respondents with violations of Republic Act No. 3019, or the Anti-Graft and Corrupt Practices Act—specifically Section 3(e), which covers causing undue injury to the government or giving unwarranted benefits to a private party through manifest partiality, evident bad faith, or gross inexcusable negligence; and Section 3(g), which pertains to entering into contracts grossly disadvantageous to the government.

Coalition 169 alleges that the respondents extended undue favoritism to Stradcom in connection with the LTO’s IT systems, result -

Marcos announces toll-free period for new CALAX stretch

PRESIDENT Ferdinand Marcos said the Cavite-Laguna Expressway (CALAX)

Project-Subsection 3, which will cut the previous hour-long travel time between the two provinces to just 26 minutes, will be toll-free until next month.

The Chief Executive made the announcement during the inauguration of the new CALAX Subsection in Barangay San Francisco, City of General Trias in Cavite last Monday.

“I can announce that it will be open starting 12 midnight tonight and for one month, it has no toll. So, to our countrymen, use it [Subsection 3] and experience the benefit of such a big project,” Marcos said partly in Filipino,” he said partly in Filipino to reporters at the sideline of the event.

Among the guests in the inauguration were Department of the Interior and Local Government (DILG) Secretary Juanito Victor Remulla Jr., Department of Public Works and Highways (DPWH) Secretary Vince Dizon, Department of Transportation (DOTr) Acting Secretary Giovanni Lopez, and Jose Ma. K. Lim, President Emeritus, of Metro Pacific Tollways Corporation (MPTC). The 7.88-km CALAX Subsection 3 connects Governor’s Drive Interchange to Aguinaldo Interchange stretch. The Presidential Communications Office (PCO) said the Toll Regulatory Board (TRB) in coordination with CALAX management will issue updates on the implementation of the toll-free in the CALAX Subsection 3. Marcos said the new subsection will help decongest traffic and make travel in Southern Luzon faster, particularly between Biñan, Laguna, and Gen. Trias, Cavite, The new section of CALAX, he said, will greatly benefit those who are working in Metro Manila and live in Southern Luzon. The President thanked MPCALA Holdings Inc., which is part of the Group of Companies led by

See “CALAX,” A9

SC orders Sotto to answer petition seeking to cite him for indirect contempt

THE Supreme Court (SC) has ordered Senate President Vicente “Tito” Sotto III to answer the petition filed by a group of lawyers seeking to cite him for indirect contempt for criticizing its final ruling which dismissed the Articles of Impeachment filed against Vice President Sara Duterte during the previous Congress.

In a resolution dated April 8, 2026 but was made public on Monday, the Court gave Sotto a non-extendible period of 10 days to submit his comment on the petition filed by lawyers Manuelito Luna, Ferdinand Topacio, Harold Respicio, and Virgilio Garcia along with businesswoman Cathy Binag.

“Acting on the verified petition for indirect contempt, the Court resolved, without necessarily giving due course to the petition, to require the respondent to comment thereon within a non-extendible

period of 10 days from notice of this resolution,” the resolution read. In their petition, the petitioners argued that Sotto’s comments on the Court’s ruling constitutes “improper conduct” that undermines the integrity and dignity of the Court. The petitioners were referring to Sotto’s reaction to the SC’s decision issued on January 29, 2026 which affirmed with finality its decision declaring as unconstitutional the Articles of Impeachment filed by the House for violating of the one-year-bar rule under the Constitution andright to due process.

Sotto had labeled the decision a “sad day for Constitutional Law,” and accused the SC of judicial overreach and judicial legislation. He also accused the Court of “meddling with the Constitution” and hinted that Charter change might be necessary to strip the judiciary of such powers. Joel R. San Juan

ing in the continued imposition of computer fees on motorists and the transacting public.

The group estimates these fees have generated between P2 billion and P3 billion annually from February 2013 to the present.

“These alleged practices have imposed an unjust and continuing financial burden on millions of Filipinos transacting with the LTO,” the group said.

As relief, Coalition 169 is seeking the sixmonth preventive suspension of incumbent DOTr and LTO officials involved under Section 24 of RA 3019, as well as the full refund of all computer fees collected by Stradcom since February 10, 2013.

Coalition 169 spokesperson Johnny Gomez

said the filing goes beyond addressing past actions, saying that it as an effort to prevent “systemic abuse” and ensure that government systems operate in the public interest. DOTr Secretary Giovanni Lopez, for his part, said there is “no room for corruption or irregularities in the department.”

Bagamat hindi pa namin pormal na natatanggap ang reklamo, kumpyansa si SecretaryLopeznahandaangDOTratLTOna harapinitosatamangforum,” the department said in a statement.

The complaint also sought the issuance of a preventive suspension order against the respondent officers pending the investigation and resolution of the complaint.

“While P169.06 per transaction may appear minimal, its cumulative impact is significant. Across millions of transactions annually, this represents a substantial financial burden on Filipino motorists— compounded by additional indirect costs such as time lost, repeated in-person visits, and the loss of digital convenience,” the coalition said.

Among the complainants are Coalition 169 representatives Bernard Y. Yu, Jun Rustico Braga, Aida C. Yuvienco, Joselito C. Reyes, Rene S. Santiago, and the Federated Land Transport Organizations of the Philippines, Inc., represented by its president Diolito N. Inosanto. With Joel R. San Juan

Cebu province ends 4-day work week, restores regular government schedule

By Carmel Pedroza

EBU CITY—The Cebu Province

Cgovernment has officially discontinued its temporary four-day work week arrangement, signaling a return to standard operations across all offices.

Governor Pamela Baricuatro signed Executive Order No. 27 on April 30, 2026, formally revoking the earlier directive that compressed the work schedule.

The new order replaces Executive Order No. 16, which had introduced a shortened work week as part of energy-saving efforts amid national concerns over power

consumption.

Provincial officials explained that the four-day scheme was designed as a temporary solution to reduce electricity usage, improve operational efficiency, and support sustainability targets.

With conditions now stabilizing, the government has opted to resume normal working arrangements to improve service delivery and coordination between departments.

Starting May 4, 2026, all provincial offices are required to follow the regular five-day schedule, from Monday through Friday, in line with the guidelines set by

the Civil Service Commission, including the standard 40-hour workweek.

Baricuatro noted that reverting to the traditional schedule would help ensure more consistent frontline services and strengthen collaboration across government units, ultimately benefiting residents throughout Cebu.

Despite the policy shift, provincial authorities emphasized that energy conservation remains a priority.

Government offices have been instructed to continue implementing cost-saving and environmentally conscious practices introduced under the previous order.

Marcoleta inspects irrigation projects in Central Luzon

FLORIDABLANCA , Pampanga—Sen.

Rodante Marcoleta on Saturday, May 2, inspected dams and irrigation systems in Central Luzon as part of efforts to improve farmers’ production and income.

Accompanied by National Irrigation Administration (NIA) regional and provincial officials, Marcoleta visited Magsaysay Dam in Barangay Nambalan, Mayantoc, Tarlac; Caulaman Dam in Barangay Dampe, Floridablanca, Pampanga; and a 15-horsepower solar-powered pump project in Barangay Dulong Malabon, Pulilan, Bulacan.

“This is part of our advocacy to help farmers across the country improve their production by establishing reliable irrigation systems. We must produce enough food for the people,” Marcoleta said.

NIA Acting Regional Manager Christian Manalo said the agency has allocated P500 million for the rehabilitation of the PoracGumain River Irrigation System, adding that the project is set to begin within the year.

“The rehabilitation project will improve water delivery to farmlands,” Manalo said. Marcoleta said more than 16,000 farmers and about 35,000 hectares of farmland are expected to benefit from the NIA projects. He also met with farmers, most from Pampanga, and assured them of his continued support.

“I was a farmer. My father was a farmer. I understand your plight,” he said. Members of irrigators’ associations told Marcoleta their production had increased with improved irrigation systems.

Floridablanca Mayor Michael Galang thanked the NIA and Marcoleta, saying more than 3,000 farmers in the town will benefit from the project.

Floridablanca is among the major producers of agricultural products in Pampanga.

Ashley J. Manabat

DILG lauds LGUs for pushing jobs through PESO

By Jonathan L. Mayuga @jonlmayuga

THE Department of the Interior and Local Government (DILG) has lauded and commended local government units (LGUs) for establishing Public Employment Service Offices (PESOs), bringing job opportunities closer to communities nationwide.

According to the DILG, around 1,200 LGUs nationwide are actively providing employment services to communities.

This saves their respective constituents time and money to find employment by allowing firms to directly hire employees during jobs fair facilitated by PESO.

The DILG said the growing number of

PESOs shows how local governments are stepping in to make employment services easier to access. Instead of people going far just to apply or ask, services are now within reach of their own communities.

Through PESOs, jobseekers are guided, connected to employers, and given real options. For families, that means a steadier income. For communities, it means more people moving forward.

The Department called on remaining LGUs to establish their own PESOs to further strengthen local job facilitation and make job matching faster and more direct.

The initiative supports the directive of President Ferdinand R. Marcos Jr. to focus on long-term employment strategies that create real and lasting opportunities.

PESOs are non-fee charging, multidimensional employment service facilities established by LGUs in coordination with the Department of Labor and Employment (DOLE). They provide job matching, labor market information, and access to employment programs, ensuring that services reach even the grassroots level.

Latest data show that 799 LGUs, or 46.59 percent, have institutionalized PESOs through local ordinances, including 60 provinces, 116 cities, and 623 municipalities. Another 401 LGUs have established PESOs through executive orders, covering 12 provinces, 13 cities, and 376 municipalities.

Across the country, PESOs are already making a difference.

In Iloilo City, the PESO has earned Hall

of Fame recognition at the National PESO Congress after winning the highly urbanized city category for three consecutive years. It facilitates employment for at least 30,000 individuals annually, with a 94 percent success rate.

The Province of Antique was likewise recognized as the National Best PESO under the Second-Class Province Category, reflecting consistent and effective employment services.

Makati City’s PESO has also been recognized for its IT-based skills registry system, which helps match job seekers with the right opportunities and address skills gaps. These are not just programs on paper. These are real people finding work, one opportunity at a time.

Dole expands ‘Tupad Tuloy Pasada’ as rollout moves beyond NCR

THE Department of Labor and Employment (Dole) said it is expanding the implementation of its “Tupad Tuloy

Pasada” program beyond the National Capital Region following the completion of its pilot run in Metro Manila.

Dole Director for Bureau of Workers with Special Concerns Leilani M. Reynoso said the program initially covered 538 drivers in the NCR during its pilot phase.

She said the drivers have already begun receiving payouts, with disbursements scheduled as early as May 2.

Reynoso said around P7.6 million has been

allocated so far for the initial implementation of the program.

She added that pre-implementation activities are now ongoing in other regions, signaling the start of the nationwide rollout. The Dole official said a second batch in the

See “Tupad,” A9

DepEd begins nationwide orientations for 3-term school calendar set to start

By Claudeth Mocon-Ciriaco @claudethmc3

THE Department of Education

(DepEd) said on Monday that it is actively engaging stakeholders to reinforce the key features of the three-term school calendar, which is set to be implemented starting School Year 2026–2027. The department stressed that this initiative is part of its broader efforts to strengthen learning delivery and improve basic education outcomes.

Education Secretary Juan Edgardo “Sonny” Angara emphasized that the reform is de -

Phivolcs: Magnitude 6 offshore earthquake rocks Eastern Samar

AMAGNITUDE 6 offshore earthquake rocked Eastern Samar on Monday afternoon, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported.

The earthquake struck at 2:09 p.m. with the epicenter at 20 km east of San Julian town. It has a depth of 56 km.

According to Phivolcs, Intensity V was recorded in Tacloban City, Intensity III in Casiguran and Juban in Sorsogon Province, and II in the City of Tandag, Surigao del Sur. Phivolcs said that with such a strong earthquake it is not issuing a tsunami alert. According to Phivolcs, damage and aftershocks are expected, although the Office of the Civil Defense said it is still verifying the impact of the earthquake in the affected areas.

Jonathan L. Mayuga

Tupad.

Continued from A8

NCR is also being prepared, which is expected to add about 7,225 more beneficiaries.

She explained that beneficiary lists are sourced from the Land Transportation Franchising and Regulatory Board (LTFRB) and the Department of Transportation (DOTr).

“These lists are submitted to Dole for profiling, verification and validation,” Reynoso said. She stressed that drivers already covered under the service contracting program of the LTFRB are excluded from the Tupad Tuloy Pasada program.

“Dapat hindi sila nagdodoble para mas marami ang matulungan,” she said, noting that the goal is to maximize the number of beneficiaries.

Dole also said qualified drivers undergo orientation before being deployed under the program, which requires them to operate continuously for 15 to 20 days.

She added that routes prioritized under the program are those with high passenger demand to ensure that commuters benefit from continuous transport services.

“Natutulungannatinangdrivers at commuters dahiltuloy-tuloyangbiyahesamgarutang maramingsumasakay,” she said.

The program complements the agency’s regular Tupad initiatives, which also extend assistance to tricycle, jeepney and even informal transport workers not endorsed through formal channels.

Its initial target of assisting 55,000 drivers nationwide under the program will be sustained.

This target is based on the P1.2-billion allocation computed in coordination with the DoTr, although this may still be recalibrated depending on updated submissions.

Dole is working with transport and social welfare agencies to ensure a clean and verified list of beneficiaries to avoid duplication and ensure wider distribution of assistance.

Mary Jade Jadormio

signed to improve how time is organized for teaching and learning in schools and that it is part of a broader effort to address longstanding challenges in the school calendar, including disruptions that affect the continuity and effectiveness of learning.

“The objective is to ensure that learning is delivered in a more organized and consistent manner throughout the school year,” Angara said.

Under the three-term school calendar, the school year is divided into three structured terms, with an Opening Block at the beginning of the school year for learner profiling, assessment, and school readiness.

Each term has an Instructional Block dedicated to continuous teaching and learning; and an End-of-Term Block for academic intervention, consolidation of learning, and professional development for teachers.

This structure is intended to provide longer, uninterrupted periods for instruction, allowing lessons to be delivered more effectively and with better pacing.

DepEd explained that the reform responds to recurring disruptions that affect instructional time, underscoring the need for a more structured academic calendar that supports continuity in teaching and learning.

By organizing the school year into clearly

defined blocks, the Department aims to ensure more consistent and focused teaching time, provide dedicated periods for remediation and learner support, and streamline school activities and teacher responsibilities across the year.

The three-term school calendar also introduces scheduled breaks between terms, giving teachers time for lesson planning, assessment, and other professional tasks, which supports more effective classroom instruction.

DepEd emphasized that the reform is not a shift to a trimester system, but a reorganization of the existing school year into three

Radisson RED Cebu Mandaue eyes local hiring, mayor pushes 60 percent workforce from

By Carmel Pedroza

EBU CITY — Officials of Radisson

CRED Cebu Mandaue have assured the local government that residents of the city will be given priority in employment opportunities as the hotel continues to build its workforce.

During a visit to Mayor Thadeo “Jonkie” Ouano on Monday, May 4, hotel executives led by General Manager Prakash Ganesan expressed their openness to hiring Mandauehanons, citing the practicality of employing workers who live near the establishment.

Ganesan noted that the hotel’s location in Mandaue City makes it more convenient for residents to commute, allowing for easier access to work while contributing to the local economy.

He added that the hotel is also looking to hire young applicants, aiming to provide them with opportunities to develop their skills, gain experience, and build their careers in the hospitality industry.

Mayor Ouano, according to the Mandaue City Public Information Office, welcomed the initiative, thanking the hotel’s management for opening additional job opportunities for Mandauehanons.

While the hotel management has not disclosed a specific number of hires, Mayor Ouano said he has requested that, if possible, at least 60 percent of the workforce be Mandauehanons.

He also expressed optimism about strengthening collaboration between the local government and the private sector.

The mayor assured the city’s continued support for initiatives that promote

city

employment and livelihood opportunities for residents.

Also present during the meeting were

Senior Sales Director Jason Cabuguas, Sales Director Yulia Armedilla, and Executive Secretary Riczen Gingoyon.

Located at Astra Centre along A.S. Fortuna Street, the hotel opened in January this year as the first Radisson RED property in the Philippines.

Developed by Cebu Landmasters Inc., the hotel features 144 modern rooms, creative dining spaces, a 24/7 gym, an outdoor pool, retail outlets, and event facilities that can accommodate up to 100 guests.

The property blends international hospitality standards with Cebuano culture, highlighted by locally inspired artworks and unique design elements such as a jeepney concept by renowned designer Vito Selma.

IRR signed to integrate labor education in college

THE Department of Labor and Employment (Dole), Commission on Higher Education (CHED) and Technical Education and Skills Development Authority (TESDA) inked the implementing rules and regulations (IRR) of Republic Act No. 11551, formalizing the integration of labor education in tertiary and technicalvocational curricula.

The IRR requires higher education institutions and training centers to embed labor education modules covering workers’ rights, responsibilities, and available remedies, alongside basic workplace standards.

Dole Officer-in-Charge Benedicto Ernesto R. Bitonio Jr. said the measure is aimed at addressing gaps in job readiness, particularly among first-time entrants to the labor force.

“We want our graduates to enter the

workforce with a basic level of confidence— not unsure, not unprepared—but ready to navigate their work environment, engage properly, and understand both their rights and their responsibilities,” Bitonio said.

Under the IRR, labor education will include discussions on employment relationships, wages and benefits, occupational safety and health, and dispute resolution mechanisms.

Schools may also conduct career guidance activities covering employment programs, basic labor concepts, the International Labor Organization, and risks such as illegal recruitment and trafficking in persons.

Dole, through its Labor and Employment Education Services, will provide technical assistance and learning materials in coordination with CHED and TESDA.

The rules also provide for a credit transfer

system, allowing students who completed labor education modules in technicalvocational programs to have these recognized when they transition to higher education institutions.

The rollout comes as the labor market continues to absorb new entrants, with 190,000 job vacancies offered in Labor Day job fairs nationwide, largely in retail, manufacturing, and service-related occupations.

However, job availability has not always translated to quality employment, as underemployment remains a concern, and a number of workers continue to seek better-paying or more stable jobs.

The integration of labor education is also expected to support enforcement efforts by equipping workers with knowledge on how to respond to violations and access available remedies. Mary Jade Jadormio

Court orders release of Sonza, admits committing error in holding rap against him as ‘non-bailable’

warrant was not intentional,” Tolentino said.

THE Pasay Regional Trial Court (RTC) Branch 118 has ordered the release of former broadcaster Jay Sonza after posting bail in the amount of P10,000 in connection with unlawful means of publication and unlawful utterances charges filed against him for allegedly spreading false and malicious information about the health condition of the President.

In a sta tement, Sonza’s lawyer Mark Tolentino also claimed that the Pasay RTC Branch 118 presided by Judge Rowena Nieves Adena Tan has formally apologized to Sonza for erroneously classifying the charge against Sonza as “non-bailable”when it issued the arrest warrant against him last April 30. According to the Court, the error stemmed from issues with the online platform related to bail processing, and that the issuance of the

knowledge required under the law.

“In good faith, and in the interest of moving forward, Manong Jay Sonza and undersigned counsel humbly accept the apology of the Honorable court – despite the fact that he was unjustly deprived of his liberty for five days,” he added.

Tolentino also said that Sonza’s scheduled arraignment on Monday did not proceed after they raised “serious jurisdictional” issues in his motion to quash the information.

In particular, Sonza’s camp argued that the information fails to allege that Pasay City is the place of commission the alleged offense, which is essential to establish jurisdiction and that the National Bureau of Investigation (NBI) has legal personality to act as complainant in this case.

Tolentino pointed out that the NBI is neither the offended party nor possessed of personal

DAR solar irrigation and farm inputs boost Zambo town ARB’s resilience

THE Department of Agrarian Reform (DAR) recently turned over a solarpowered water pump system and distributed high-quality fertilizer to an irrigator’s association in Polanco, Zamboanga del Norte.

grading periods while maintaining the same subjects and curriculum.

The Department further clarified that the three-term school calendar will be implemented in public schools, while private schools will continue to have the flexibility to adopt their own academic calendars, provided they comply with existing curriculum standards and the required number of school days.

The development of the policy involved consultations at the national, regional, and school levels, including engagements with teachers, school leaders, and other stakeholders.

As part of the implementation, DepEd has conducted orientation sessions for Regional Offices and Schools Division Offices, with orientations for school heads and teachers already underway nationwide to guide schools on adjustments in assessment, lesson planning, and other operational aspects of the new calendar.

The Department added that it will continue to monitor implementation closely and refine the policy based on feedback from the field to ensure that it effectively supports both learners and teachers.

“ Given these fundamental defects, we maintain that the case is legally infirm and subject to dismissal,” he added.

The court has reset Sonza’s arraignment on June 3.

In a related development, Pasay RTC Branch

119 Presiding Judge Gidget Rose Doque set a P36,000 bail for SMNI host Jeffrey “Ka Eric” Celiz in connection with the charge of unlawful means of publication under Article 154 of the Revised Penal Code.

Tolentino, who serves as counsel for both Sonza and Celiz, said a separate cyber libel complaint was filed against his clients by the NBI and is now pending before the Pasay RTC Branch 111.

He said no warrant of arrest has been issued by the court in connection with the case as of press time. Joel R. San Juan

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The solar-powered water pump system and the fertilizer will help farmers improve productivity while lowering costs, a major boost toward sustainable, reliable farming in Polanco town, a 3rd class municipality with 40,000 people. The beneficiaries are members of the Silalela Irrigators’ Association, Incorporated. Leading the ceremony, Provincial Agrarian Reform Program Officer Alfonso E. Tan emphasized that the project goes beyond providing equipment—it offers long-term relief. “Our goal is to free farmers from the burden of expensive fuel and unpredictable weather,” Tan said. “With solar energy, the Silalela Association now has a steady, zerocost source of water to keep their farms productive all year round, regardless of rising diesel prices,” Tan said in a statement.

A game changer SOLAR-POWERED irrigation systems are proving to be a game-changer in rural communities. They reduce fuel expenses, lessen environmental impact, and ensure water supply-even during dry spells. Combined with the distribution of organic fertilizers, the initiative supports both farm productivity and long-term soil health.

Polanco Mayor Shaia Ruth R. Uy thanked DAR for its quick response to the irrigation needs of farmers, especially the irrigation of rice during the dry season. Meanwhile, local leaders—including Board Members Jimmy Israel B. Chan and Dante G. Bagarinao, representing Governor Darel Dexter T. Uy—highlighted the importance of strong collaboration among government agencies in driving rural development.

The initiative also aligns with the direction of DAR Secretary Conrado M. Estrella III, who continues to push for sustainable farming solutions and improved livelihoods for Filipino farmers. By combining renewable energy with essential farm inputs, DAR is helping ensure a more resilient and self-reliant agricultural sector. Jonathan L. Mayuga

Manuel V. Pangilinan, for the latest expansion of the CALAX.

With completion of the said subsection, CALAX now spans 26 kilometers and can now accommodate additional 6,000 motorists.

Marcos lamented that the construction of the available sections of CALAX has already taken a decade due to issues related to right of way.

Once all of its parts are completed, it is expected to extend to 44.6 kilometers, linking the Manila-Cavite Expressway (CAVITEX) in Kawit to the South Luzon Expressway (SLEX) and serve up to 95,000 vehicles per day. Samuel P. Medenilla

A healthy investment: Why the wellness tax break makes sense editorial

SENATE Bill No. 1928, or the Workers Health and Wellness Act, presents a rare opportunity for the Philippines to align economic recovery with public health. By offering tax incentives to companies, particularly MSMEs, that invest in employee wellness, the state is not merely giving a break—it is making a smart bet on productivity. (Read the BusinessMirror story: “Tax perks eyed for firms with workplace wellness programs,” April 30, 2026).

For years, the conversation about workplace health has been dominated by large corporations with gym memberships and on-site clinics. But the reality is that the backbone of our economy—micro, small, and medium enterprises (MSMEs) with fewer than 200 employees—has been left out. These firms often operate on razor-thin margins. They know that stressed, unhealthy workers lead to absenteeism and low morale, but they cannot afford the luxury of a wellness coordinator.

This is why the proposal of Senator Imee Marcos is a masterclass in pragmatic governance. Under the bill, small firms can claim a tax credit of up to P1,000 per employee, while larger firms get P500 for every worker beyond the first 200. This is not a handout; it is a cost-neutral stimulus for preventive health.

Consider the contents of the proposed “Employee Wellness Programs”: periodic health screenings, mental health awareness, smoke-free environments, healthy food options, and flexible work arrangements. These are not extravagant perks; they are basic pillars of a humane workplace. When a company catches a health risk early, it saves thousands in hospitalization costs later. When a firm offers stress management, it reclaims hours lost to presenteeism—when workers show up but are too distracted or unwell to function.

The bill wisely includes an additional sweetener for “Workplace Improvement Programs”—retrofitting ventilation, installing renewable energy, or upgrading office airflow. In a post-pandemic world, this is not just about tax depreciation; it is about survival. Poor ventilation in small offices has been a silent vector for disease. By allowing an accelerated depreciation of 30 percent of costs, the state encourages landlords and business owners to turn their offices from petri dishes into sanctuaries.

Of course, critics will argue that any tax break is money the government loses. But that view is short-sighted. A healthier workforce is a more productive workforce. Reduced absenteeism increases economic output, which expands the tax base. Furthermore, the bill targets the exact behavior we want to encourage: prevention rather than cure. The Department of Health spends billions treating lifestyle-related diseases. Shifting even a fraction of that burden to the private sector—through voluntary, incentivized wellness—eases the load on public hospitals.

Yet, the devil is in the implementation. The Bureau of Internal Revenue must issue clear, simple guidelines. MSMEs do not have compliance departments; if the paperwork to claim the P1,000 credit is too arduous, the incentive becomes a trap. Moreover, the bill should guard against “performative wellness”—posters about healthy eating while the pantry is stocked with junk, or mental health seminars in a toxic work culture.

Nevertheless, the principle is sound. State policy should reward responsibility. If a bakery with 50 workers decides to offer smoking cessation classes, or a small logistics firm installs air purifiers in its dispatch room, they deserve a tax break. Their workers deserve to go home healthier than they arrived. It would do well for the Senate to pass the Workers Health and Wellness Act swiftly. In the long march toward economic recovery, we need more than just capital; we need energy, focus, and resilience. Those assets reside not in bank vaults, but in the beating hearts and sound minds of the Filipino workforce.

Opinion

UJohn Mangun

OUTSIDE THE BOX

the restaurant empty on a Friday night. These are not sad stories. They are market outcomes.

There is a difference between unseen and rejected, between overlooked and assessed. The condition is not invisibility. The thing is observed, considered, and passed over—repeatedly, deliberately, by people who know exactly what they are doing. Wall Street imported the word because the financial vocabulary has no equivalent—the difference between a market that is cheap because it has been missed and one that is cheap because informed money looked carefully and walked away.

That verdict now belongs to the Philippine Stock Exchange.

By the numbers, it is one of the cheapest markets in Asia. The PSEi’s Price-to-Earnings Ratio approached single digits in late 2025—territory not visited since the 2008 financial crisis, well below where it traded during the March 2020 pandemic trough. By any historical measure, Philippine equities are on sale. And nobody is buying.

The Romans had a procedure for this. Damnatio memoriae—con -

T. Anthony C. Cabangon

Lourdes M.

demnation of memory. When the Senate wanted to erase a disgraced emperor, it did not explain. It removed his name from public records, melted his statues, and proceeded as though he had never existed. Foreign capital does the same. It does not declare a market uninvestable. It stops showing up. The foreign desk moves the money elsewhere. Gradually the memory of why anyone thought the PSE was a good idea fades away. Cumulative net foreign buying had built to P300 billion by early 2015. By end-2022, every peso of that was gone. Not reduced. Gone. A decade of accumulated conviction, returned to sender. Overseas investors pulled out another P12.9 billion in 2024 alone, the bulk of it after Trump’s election victory, as global fund managers shifted to US assets. The PSEi slid 7.3 percent in 2025—its most punishing year since the pandemic—with early optimism about easing inflation and rate cuts erased by weak GDP, currency volatility, and a corruption scandal vis-

ible from space. In Q4 2025, the economy delivered the answer the market had already priced in. GDP grew 3 percent year-on-year—the weakest since Q1 2021. The sitting administration’s infrastructure program was gutted by a corruption scandal large enough to slow a national economy. That is not a governance concern. That is governance failure.

Corporate sector entities own more than 40 percent of listed shares on the PSE, against a global average of 9.2 percent. Conglomerates represent at least 20 percent of Philippine GDP and a disproportionate share of the index. The PSEi is not a stock market in any competitive sense. It is a scorecard for family-controlled empires where minority shareholders exist to provide liquidity on the way down and price discovery is largely theater.

Market-based financing for Philippine corporations remains significantly below ASEAN peers. Companies that need capital go to relationship banks, often self-owned. The equity market is an afterthought. The result is a shallow pool that foreign institutional funds cannot enter at scale without moving prices, and cannot exit without the same problem in reverse.

The PSE relies structurally on foreign flows. Local retail participation has never deepened enough to be a counterweight. When foreign capital leaves, prices fall past where fundamentals justify. The market always looks cheap. Informed money looks at the dis -

China’s rare defiance of US sanctions sparks showdown over banks

CHINA has ordered companies to defy US sanctions for the first time, a step that threatens to put its banking sector into the crosshairs of competition between the world’s largest economies.

The decision, announced on Saturday, risks becoming a watershed moment. While China has often railed against unilateral sanctions, it has in the past quietly allowed companies to comply with them to avoid blowback on its own economy and preserve access to the US financial system.

Beijing is now signaling a far firmer stance against such restrictions by directing companies not to abide by US sanctions on five domestic refiners linked to the Iranian oil trade.

A commentary on the People’s Daily app, the Communist Party mouthpiece, called the announcement “a pivotal step in the transition of China’s foreign-related legal weapon from institutional reserves to practical application.”

The move represents Beijing’s

most aggressive action to date in countering Washington’s financial statecraft, setting up a showdown before a long-awaited meeting between President Donald Trump and his counterpart Xi Jinping later this month. It comes with the US sanctions system already under strain, as Washington vacillates on restrictions against Russia, Venezuela and Iran. China is deploying a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified. The refiners—including Hengli Petrochemical (Dalian) Refinery Co. which was sanctioned last month, and several other privately-owned processors—had been facing asset freezes and transaction bans.

Lenders working with Hengli and

The move represents Beijing’s most aggressive action to date in countering Washington’s financial statecraft, setting up a showdown before a long-awaited meeting between President Donald Trump and his counterpart Xi Jinping later this month. It comes with the US sanctions system already under strain, as Washington vacillates on restrictions against Russia, Venezuela and Iran.

other private processors are scrambling to understand

decision and are

from the banking regulator. Public holidays in China this week allow them some time, since business is on hold, as does the grace period provided by the Treasury Department’s Office of Foreign Assets Control. “Judging by its specific provi-

count, understands exactly why it exists, and stays away. The problems are known: governance, concentration, liquidity, the absence of hedging tools that would let foreign funds stay through volatility rather than exit at the first sign of it. The PSE has been analyzed to exhaustion. Analysis was never the shortage. Being able to name your disease is not the same as treating it. The Roman Senate erased Domitian from the records and moved on. Foreign capital erased the Philippines from the rotation and did the same. The statues are still missing. Forget the Iran war, Trump tariffs, the peso. The PSE has been here before. After the 1997 Asian financial crisis, the index shed more than 60 percent and foreign capital disappeared for years. It came back because the underlying economy made the risk-reward impossible to ignore. Growth returned. Earnings recovered. Local capital held the line until foreign flows followed. The difference is that 1997 was an external shock with a visible end. What the PSE carries today is not a wound. It is a chronic condition— the product of choices made and unmade across two decades of reform shelved. External shocks heal. Chronic conditions require a decision to treat them. That decision has not been made. Investors already knew, rendered the verdict and moved on. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

sions, the prohibition order primarily targets the concrete US sanctions imposed on particular Chinese firms,” Ji Wenhua, a law professor and adviser to the Commerce Ministry, wrote in an opinion piece for the state-run Economic Daily. “Its central objective is to nullify their legal effect within Chinese territory, rather than simultaneously resorting to more aggressive retaliatory measures.”

The US measures unlawfully restrict normal trade with third countries and breach international norms, the country’s Commerce Ministry said in a statement on Saturday. It banned recognition, enforcement, and compliance with the sanctions aimed at the five companies. “The Chinese government has consistently opposed unilateral sanctions that lack authorization from the United Nations and a basis in international law,” the department said. While the blocking measure is not

NLOVED sounds like an emotion. It is actually a verdict. The house nobody wants to buy, the candidate whose calls donors do not return,

Takaichi visits Australia to bolster economic, defense ties

By James Mayger

JAPAN’S prime minister is visiting Australia to strengthen ties with one of her country’s strongest allies, as she seeks to build on an updated regional strategy that faces challenges from both Beijing and Washington.

Sanae Takaichi touched down late Sunday in Canberra for the three-day visit, which will focus on defense, critical minerals and broader economic security. The two countries have grown increasingly concerned about the changing security and economic environment in the region, with Japan taking a more assertive military stance and looking to build economic ties and stable supply chains with nations such as Vietnam.

Takaichi was greeted at the airport by Foreign Minister Penny Wong and later met with her counterpart Anthony Albanese, concluding agreements on boosting economic and energy security ties, as well as defense, critical minerals and cyber partnerships. She said in a briefing alongside Albanese that China was among regional topics they discussed.

The Japanese leader arrived from Hanoi, where on Saturday she laid out her vision for deepening economic and security ties within the Indo-Pacific, updating a regional economic and security policy floated 10 years ago by her mentor, the late Prime Minister Shinzo Abe, and embraced by the US as a framework for countering China’s rise.

A minerals agreement between Japan and Australia prioritized six commodity projects, including for nickel and rare earths, according to documents released by Tokyo.

“The enhanced defense cooperation elevates our enduring defense partnership to reflect our unprecedented strategic alignment,” the statement on security said. “Japan and Australia are increasingly important to each other’s strategic depth,” it said, promising to assist each other to “collectively meet future challenges.”

With the US focused elsewhere and China becoming stronger, the two nations’ militaries are holding frequent joint exercises and are now looking to share technology— including Australia’s decision to purchase Japanese naval vessels. The multi-billion dollar deal, which Japan sees as the potential foundation of exports to nations such as New Zealand or India, is a symbol of the relationship and shows how Japan’s defense posture has shifted in the past 10 years.

The security environment in the Asia-Pacific region is “increasingly severe,” Shinjiro Koizumi, Japan’s defense minister, said last month.

“We will pursue multilayered cooperation between Japan and Australia with an open mindset, not only in frigates, but also in areas such as unmanned systems, cyber and space, as well as joint production of defense equipment,” he said while standing on the front deck of a Japanese warship in Melbourne.

“As uncertainty in our surrounding security environment continues to grow, the need for Japan and Australia to work together and pool our wisdom to contribute to regional peace and stability is greater than it has been at any point in the past 50 years,” Koizumi said.

Koizumi will be in the Philippines this week to observe an exercise in which armed Japanese troops will participate for the first time since World War II, along with the Australian and US militaries. Tokyo will deploy 1,400 troops to join combat drills for the first time, with its navy using a missile to help sink a ship.

That exercise in the South China Sea, close to where the Philippines and China have clashed repeatedly

Opinion

BusinessMirror

Trump casts doubts on Iran peace proposal as details emerge

ETakaichi was greeted at the airport by Foreign Minister Penny Wong and later met with her counterpart Anthony Albanese, concluding agreements on boosting economic and energy security ties, as well as defense, critical minerals and cyber partnerships. She said in a briefing alongside Albanese that China was among regional topics they discussed.

over disputed territory, will likely anger Beijing.

Economic security, critical minerals AS well as tight defense ties, Takaichi’s visit will emphasize the close economic relationship, with Australia a critical supplier of energy, iron ore, food and other commodities, and Japanese firms now the second-largest investors in Australia.

Projects such as a massive liquefied natural gas hub run by Inpex Corp. are big drivers of this economic cooperation. Tokyo also sees Australia as a crucial supplier of critical minerals, with the government and companies jointly investing in resources such as rare earths or gallium for the past decade to reduce reliance on China, which has repeatedly used its dominance of these supply chains as leverage over other nations.

“The Australia-Japan relationship is strong and is filled with possibility and potential,” said Melanie Brock, an Australian businesswoman who sits on the board of Kawasaki Heavy Industries and other major Japanese firms and who was last month awarded the Order of the Rising Sun for contribution to bilateral business.

“There is a solid affinity for each other and the commitment by Japan Inc. is one that we should truly value, for how it underpins all that potential,” she said, adding that current global instability and regional security issues will drive the two nations even closer together.

The effort to build up a rare earth supply chain that doesn’t go through China is emblematic of that cooperation, with the Japanese government and industry investing in Australia’s Lynas Rare Earths Ltd more than a decade after Beijing temporarily shut off supplies of the minerals to Japan over a territorial dispute. Over time, the firm has become the largest miner and refiner of the minerals outside of China, and last year began supplying heavy rare earth elements to Japanese industrial companies.

That effort now looks increasingly prescient, as it meant that Japan had another source of these elements when Beijing once again limited shipments of rare earths to Japanese firms after relations soured last year. China also attempted a few years ago to punish Australian by imposing punitive tariffs on exports after relations soured during the pandemic.

Reflecting that shared experience, the two nations agreed Monday to work together against such policies, saying that they shared a sense of urgency to counter nonmarket policies and practices and build “economic resilience against economic coercion, including weaponization of economic dependencies by means of export restrictions, and harmful overcapacity.”

With assistance from Kevin Dharmawan, Shadab Nazmi, Paul Jackson and Sakura Murakami/Bloomberg

By Arsalan Shahla & Salma El Wardany

FFORTS continued to broker an end to the Iran war, now into its third month, as US President Donald Trump suggested the Islamic Republic’s latest peace proposal might not be enough to satisfy him.

Iran’s suggestions include setting a one-month deadline on talks for a deal to reopen the Strait of Hormuz and end both the US naval blockade and the fighting in Iran and Lebanon, Axios reported, citing two people familiar with the matter.

If such a pact is reached, another month of discussions would then begin in an attempt to reach an agreement on Iran’s nuclear program, according to Axios.

Iran’s semi-official Tasnim News Agency reported the proposal called for a complete end to the conflict within 30 days along with guarantees against renewed strikes. It said the plan reiterates Tehran’s earlier demands, including that US forces withdraw from near Iran, a maritime blockade be lifted, sanctions removed, and reparations paid. The nuclear issue wasn’t mentioned.

On Sunday, Iran said it received the US response to its 14-point plan via Pakistan, which has been acting as an intermediary, and is reviewing it, according to Iranian TV, which

cited Foreign Ministry spokesman Esmail Baghaei. The report didn’t offer details about what the US said. Trump, speaking to reporters on Saturday, said he’d been briefed on the “concept of the deal,” but later cast doubts on whether it would be acceptable to him. He said he wouldn’t rule out restarting strikes on Iranian targets if its rulers “misbehave.”

“I will soon be reviewing the plan that Iran has just sent to us, but can’t imagine that it would be acceptable in that they have not yet paid a big enough price for what they have done to Humanity, and the World, over the last 47 years,” Trump said in a post on Truth Social.

The US president has voiced frustration at the lack of progress in talks to end the conflict that began with US-Israeli strikes on the Islamic Republic on February 28. Thousands of people have been killed across the Middle East since then, mainly in Iran and Lebanon.

Iran’s foreign ministry said Sunday that the country’s top envoy, Ab -

Trump, speaking to reporters on Saturday, said he’d been briefed on the “concept of the deal,” but later cast doubts on whether it would be acceptable to him. He said he wouldn’t rule out restarting strikes on Iranian targets if its rulers “misbehave.”

bas Araghchi, had briefed his Omani counterpart on the latest efforts to end the war. It gave no further details on their phone call.

Energy prices have soared because of the blockage of the Strait of Hormuz, the waterway south of Iran through which about one-fifth of the world’s oil and liquefied natural gas normally flows. That’s stirred concerns in the White House that the Republicans could suffer a major defeat in November’s Midterm elections as Americans cope with high gasoline prices.

Major OPEC+ nations on Sunday agreed on a modest and symbolic increase in their June production quota levels, delegates said. Seven countries, led by Saudi Arabia and Russia, would—at least on paper—add 188,000 barrels a day next month under the pact.

The expected move, which follows the United Arab Emirates’ surprise exit from the Organization of the Pe-

Saudi Arabia set for oil windfall after Hormuz boosts prices

By Andrey Biryukov

THE blockade of the Strait of Hormuz is creating an economic split among oil exporters in the Persian Gulf, with Saudi Arabia and Oman set for a windfall and others including the United Arab Emirates seeing a drop in petrodollar income.

Saudi Arabia is gaining a revenue edge over most of its Gulf Arab neighbors as it is able to divert the bulk of crude exports to the Red Sea. Higher prices more than compensated for lost shipments through the strait, according to Goldman Sachs Group Inc. The UAE, by contrast, is likely suffering a steep fall in oil income, as its own detoured barrels only partially mitigate the impact from Hormuz’s closure.

Goldman estimates weekly oil revenue rose 10 percent relative to pre-war levels in Saudi Arabia and fell around 25 percent in the UAE, Middle East and North Africa analyst Farouk Soussa wrote in a note published last week.

The divergence may feed into the intensifying rivalry between the Middle East’s two biggest economies, which was at the heart of UAE’s shock decision to quit OPEC this week. Free from quotas imposed by the Saudi-dominated group of oil producing nations, the UAE can—once the Hormuz strait reopens—pump more crude and monetize its reserves before demand tapers off with the energy transition.

The overall financial implications of the war on one of the world’s most important energy-exporting regions are severe. The six Gulf Cooperation Council members are losing about $700 million in oil revenue every day the strait is closed, Goldman said in a separate note on March 20.

China. . .

Continued from A10

likely to derail the Xi-Trump summit, Washington’s reaction to it will indicate if the matter escalates, according to analysts from Eurasia Group.

“The refineries primarily work with Chinese banks that have not yet been directly sanctioned,” the analysts led by Dominic Chiu wrote in a note. “If the US extends secondary sanctions to those institutions, or major state-owned entities, Beijing would likely respond with more force-

Since the war began in late February, Riyadh has rerouted around 4 million barrels of oil a day to its East-West pipeline, which connects fields to the port of Yanbu. The UAE ramped up oil shipments through its own pipeline that empties beyond Hormuz. It loaded about 2 million barrels each day in March, still only half what it was exporting in February.

Oman, which has its oil ports outside of the strait, hasn’t had to cut exports and has seen its revenue surge by 80 percent since the conflict erupted, Goldman estimates. Kuwait, Qatar, Bahrain and Iraq are in the worst positions. Their income from oil and natural gas has cratered as they have little way of bypassing Hormuz.

“The war is splitting the region into winners and losers,” according to Ziad Daoud, chief emerging markets economist for Bloomberg Economics.

The difference in oil revenue is reflected in the performance of GCC countries’ stocks. Omani and Saudi equities are easily outperforming those of the other four states.

Crude prices have jumped since the start of the Iran war, which led to an almost complete shutdown of the waterway through which a fifth of the world’s oil and liquefied natural gas flows previously transited. Global benchmark Brent traded above $126 a barrel on Thursday, the highest since the aftermath of Russia’s invasion of Ukraine in 2022. It’s

ful countermeasures.”

China has long been the single largest buyer of Tehran’s oil shipments, many of them arriving indirectly and through private refiners, and then turned into gasoline, diesel and other oil products. Chinese customs data do not reflect that trade, with the last official shipment recorded several years ago. Before Hengli, and wary of the economic and diplomatic fallout, Washington’s efforts to cut off Tehran’s oil revenue had targeted smaller Chinese companies and facilities. Hengli, by contrast, is representa-

troleum Exporting Countries, effective May 1, is largely symbolic as the group won’t be able to implement the increase while Hormuz is blocked. The waterway remains at the heart of the stalemate. After Iran effectively closed the strait, the US imposed a naval blockade on the Islamic Republic’s ports, seeking to squeeze its economy and choke off oil exports.

Foreign Minister Araghchi has indicated Tehran is ready to continue diplomatic efforts if the Americans change their approach and avoid “excessive demands, threatening rhetoric, and provocative actions.” The military remains “fully vigilant,” he said. Iran, which has long prepared for such scenarios, has begun curbing oil production as its storage tanks fill up, Bloomberg reported on Saturday. The move aims to keep them ahead of capacity limits rather than waiting for tanks to fill completely, according to a senior Iranian official, who asked not to be identified because the information is sensitive.

Oil prices eased Friday after touching wartime highs earlier in the week. Brent crude settled near $108 a barrel, putting its gain for the week at 2.7 percent. US gasoline pump prices have surged to well above $4 per gallon. Bloomberg

Crude prices have jumped since the start of the Iran war, which led to an almost complete shutdown of the waterway through which a fifth of the world’s oil and liquefied natural gas flows previously transited. Global benchmark Brent traded above $126 a barrel on Thursday, the highest since the aftermath of Russia’s invasion of Ukraine in 2022. It’s eased to $108 but is still up almost 80 percent in 2026.

eased to $108 but is still up almost 80 percent in 2026.

Oil revenues only partially reflect the fallout from war. Iran’s airstrikes across the Gulf states, in retaliation for US-Israeli attacks, damaged their infrastructure and hit their non-oil economies as tourists and other visitors stayed away.

Goldman estimates the UAE’s annualized fiscal surplus of 6 percent of gross domestic product before the war has almost entirely been erased and sees only a marginal improvement of 1 percentage point in Saudi Arabia’s deficit.

The war has led to Oman’s fiscal balance swinging from a deficit of 7 percent of GDP to a surplus of 8 percent, according to Soussa. Bahrain, Qatar and Kuwait now have deficits of 17 percent, 20 percent and 40 percent respectively, he estimates.

JPMorgan Chase & Co. sees the GCC’s fiscal balance having deteriorated by around 3.6 percent of GDP during the war.

Saudi Arabia, the UAE, Kuwait and Qatar can weather the impact of the conflict using their large foreign reserves and wealth funds, Bloom-

tive of the most modern of China’s private refiners, with a sprawling oil-processing and chemicals complex in the northeastern province of Liaoning.

While the country does still have an army of small independent players—the original so-called teapots— the larger entities are now giant operations. Altogether, the private sector accounts for as much as a third of refining capacity, in a country where energy security is a priority.

The injunction “allows the refineries to seek compensation in Chinese courts from entities that comply with

berg’s Daoud said. Bahrain and Iraq don’t have that luxury and depend heavily on oil revenues for basic fiscal stability.

Aramco windfall

IF the blockade is lifted in the short term, Goldman’s Soussa notes, some of the damage to public finances may be reversed.

Saudi Aramco’s first-quarter corporate results, due May 10, may offer more evidence of the kingdom’s resilience.

The oil giant is expected to post its highest profit since the third quarter of 2023, according to the Bloomberg consensus of analyst estimates. Net income is forecast to hit $32 billion in the period, with higher prices and seasonally lower costs offsetting the drop in production, Citigroup Inc. analysts wrote.

Debt market

SINCE the war began, sovereign and corporate borrowers in Qatar and Kuwait, typically infrequent issuers in the global bond market, raised billions of dollars through private sales, data compiled by Bloomberg shows. Bahrain turned to the UAE for a currency swap of $5.4 billion. UAE issuers, including Abu Dhabi, also tapped markets, though less heavily than in the same period a year earlier. Saudi Arabia, usually the region’s biggest borrower, scaled back issuances.

For the GCC as a whole, Goldman estimates the net government borrowing requirement has doubled from around $1.7 billion a week to $3.5 billion. “We think this will prompt authorities to continue to seek to optimize funding sources as long as the disruption lasts,” it said. Bloomberg

US sanctions, including domestic actors—such as banks, investors, and downstream customers that have ceased dealings—as well as foreign firms with a presence in China,” the Eurasia analysts said, adding the move signals Beijing is taking a more assertive approach to countering sanctions.  “By activating its blocking measures for the first time since adopting the rule in 2021, China is demonstrating a lower threshold for deploying its legal and regulatory toolkit to counter US sanctions,” they said. With assistance from Clara Ferreira Marques/Bloomberg

Tuesday, May 5, 2026

2nd Front Page

BusinessMirror

TIME TO RESUME TALKS WITH NDF–EX-GOVT PEACE TEAMS

By Rizal Raoul Reyes

FORMER members of the government exploratory teams established under the administrations of Benigno Simeon Aquino III and Rodrigo Duterte issued a joint call on Monday for the resumption of formal peace negotiations between the Philippine government (GPH) and the National Democratic Front of the Philippines (NDFP).

The group acknowledged a “prevailing and understandable cynicism” regarding the success of the talks. After more than half a century of conflict and intermittent negotiations, they noted that the public has developed a deep-seated skepticism. Nevertheless, the team remains optimistic, citing significant progress made in recent years.

The team recalled that in 2023, the Marcos administration announced exploratory talks in Oslo, Norway, aimed at a principled resolution to the armed conflict. A joint statement issued on November 23, 2023, saw both parties acknowledge—without preconditions—the deeprooted socioeconomic and political grievances at the heart of the civil war.

“There has been quiet but serious progress since 2023,” the team stated. “In February 2024, the Office of the Presidential Adviser on Peace, Reconciliation and Unity [OPAPRU] reported that negotiations were on a delicate but navigable path toward agreement. Expectations of a breakthrough grew through late 2025.”

The group emphasized that the Filipino public deserves transparency regarding the current status of the peace process, particularly following a recent encounter between the Philippine Army and the New People’s Army (NPA) in Toboso, Negros Occidental.

“No word about the status of the peace talks has been released before or after the Toboso incident,” the group said. “The public has a right to understand not only whether talks are ongoing, but what is truly at stake if there are none at all. The cost of this war to the nation has never been fully and honestly reckoned with.”

Citing 2025 research by development scholar Antonio Go, the team highlighted the staggering economic and social toll of the insurgency. Beyond direct military spending, the costs include displaced populations unable to participate in the workforce, destroyed infrastructure requiring costly reconstruction and diverted resources that could otherwise fund climate resilience and poverty alleviation.

The group noted that as one of the world’s most climate-vulnerable nations, the Philippines cannot afford the “carbon burden” and resource drain of continued armed operations.

The statement also touched on a moral dimension, citing a recent Easter vigil message from Pope Leo XIV. The Pontiff urged leaders to examine their consciences and pursue healing through unity rather than war.

Despite the tragedy in Toboso, the team expressed faith in the “resilient Filipino spirit” to choose the harder but more honorable path: peace as a concrete political commitment rather than an abstraction.

The group called on the Marcos administration to publicly account for the current status of peace negotiations, resume formal talks with the NDFP without preconditions, address root causes of poverty, injustice, and inequality through a comprehensive and final peace agreement.

DOE pauses fuel imports; volume OK, storage an issue

By Lenie Lectura

THEDepartment of Energy (DOE) has paused fuel imports for now due to storage facilities reaching near-maximum capacity.

“We don’t need to order again because one, there’s already enough supply, and second, even if we add that we don’t have a storage facility that can accommodate another million liters,” said DOE Secretary Sharon Garin said during an online news conference.

As of May 1, the total expected available days of fuel supply stood at 53 days. Of which, gasoline supply will last up to 52 days; diesel, 54 days; kerosene, 166 days; jet fuel, 71 days; fuel oil 62 days; and LPG, 40 days. Garin said a government-to-government procurement with other countries remains an option. “We’re just timing it. If it’s necessary and we have space then there could be government-to-government deals in the future to accommodate diesel, gasoline, or other products so that it can be our buffer,” said the

energy chief.

“It’s an option that we leave open. As of today, however, we have already bought 150 million liters of diesel. So now, we will use if for any purpose in accordance to our priorities,” she added.

Garin also reiterated that the agency remains firm in its push to remove value-added tax (VAT) in a bid to lower power rates, saying it is the mandate of the DOE to do its best to bring down electricity rates.

“We have been consistent in our opinion on VAT removal and anything that would lower the price of electricity, the DOE supports, including revisiting the VAT and any taxes included in our electricity bill. On the other hand, the decision on whether the suspension, removal or imposition of any tax measure is under the mandate of DOF [Department of Finance]. This is for the DOF

to assess and review,” she said.

Oil price hike

MEANWHILE , this week’s fuel price adjustment is an increase.

Garin announced a P2.21 per liter upward price adjustment for gasoline products and P2.66 per liter for diesel.

For kerosene, there will be a reduction of P3.53 per liter.

The new pump prices will take effect on Tuesday, May 5.

“The increase has been minimal compared to last week. However, there are changes in the peso-dollar exchange rate that has also added to the increase in price... Now, it seems prices are in a steady pace and, hopefully, it stays like that.

There is no assurance that the DOE can give though,” Garin said.

Liquefied petroleum gas (LPG) prices are also set to go down on Thursday by P1.22 per kilogram (kg) or P13.42 per 11kg cylinder.

“This is still big, but it’s substantially lower than the previous adjustments of about P300,” said Garin.

Tulfo pushes oil deregulation law tweaks THERE is urgency in passing a bill institutionalizing transparency in the oil deregulation regime in the

Philippines, given the growing burdens on Filipinos of the impacts of the oil price shock and other problems spawned by the Middle East war, a senator said Monday. Sen. Erwin Tulfo took the floor to deliver a speech pushing for passage of Senate Bill No. 641, filed in the 20th Congress by Senator Sherwin Gatchalian and coauthored by Tulfo. They seek to amend the Downstream Oil Industry Deregulation Act in order to improve price transparency, allowing for the review of fuel prices. They noted that until now, because of a flawed implementation of RA 8479, oil companies cannot be compelled to show a clear breakdown of their pricing mechanisms, thus resulting in needless price spikes that exploit situations such as the crisis erupting from the February 28 attacks by the US and Israel on Iran. Because of the flawed use of RA 8479, excessive price hikes have allowed oil firms to take advantage of crises, deepening the people’s misery, Tulfo lamented, noting that because of this setup, the Philippines is the only Southeast Asian nation that has seen a whopping 50-percent increase in basic fuel when the Mideast conflict triggered a supply crisis. With Butch Fernandez

₧500-M El Nido water project OKd as Tieza warns of funding risks

THE Tourism Infrastructure and Enterprise Zone Authority (Tieza) has approved a P500-million project to upgrade the water supply system of El Nido, Palawan, a consistent top drawer of foreign tourists in the country.

This developed as Tieza Chief Operating Officer Mark T. Lapid told reporters on the sidelines of a recent private tourism stakeholders dialogue, “We’ve told local government units [LGUs] that we’ve stopped accepting project proposals in the meantime because of the uncertainty over the travel tax. We can’t keep accepting and approving then starting the project, only for our funds to be taken away midway its construction.” Lawmakers, upon instruction of President Marcos Jr., have sought the abolition of the travel tax, which has aided the construction of tourism infrastructure projects, funded college scholarships and training of teachers, and maintained cultural heritage sites. Tourism Secretary-designate Ma. Bernadita Angara-Mathay is seeking the possible postponement of legislation to remove the travel tax. (See, “DOT chief: Hold off Boracay bridge, travel tax decisions,” in the BusinessMirror, April 30, 2026.)

ism industry,” according to the project brief, a copy of which was shared with this paper.

The municipality has, over the years, resisted efforts to clean up and rehabilitate its water system, despite constant and viral complaints from visiting tourists about bouts of diarrhea and hospitalization, despite consuming bottled water. “But they were on the verge of being shut down by the DENR [Department of Environment and Natural Resources] I think, so that’s why they decided to submit the project proposal,” he explained.

DENR’s Environmental Monitoring Bureau has tagged several bodies of water in the municipality with high fecal coliform levels, including popular destinations in Bacuit Bay like Helicopter Island, Secret Lagoon, and Pasandigan Beach. (See, “Fecal matter still bane of El Nido, Coron water,” in the BusinessMirror, July 14, 2025.)

Meanwhile, in the first four months to April, some P2.7 billion in travel taxes were initially collected, up 13.45 percent, year on year, Tieza data showed. Collections were up by 17.4 percent and 6.6 percent in March and April, respectively, despite the ongoing Middle East conflict.

By Bless Aubrey Ogerio

Tnext phase of growth will run just as much on power lines as on data lines, as it backs a sweeping $70-billion push to reshape how electricity and information move across borders. By 2035, the plan aims to stitch together national energy systems and digital networks under two parallel tracks: one

system where renewable energy can be shared across borders depending on demand and supply. The initiative brings together governments, utilities, private investors, and development

partners, with funding directed toward transmission lines, substations, storage systems and digital upgrades to grid infrastructure. It also extends to generation projects tied to regional electricity trade, including renewable energy export hubs and hybrid systems that combine production and storage. For ADB, the goal is not just infrastructure expansion, but integration at scale: by 2035, it hopes to connect about 20 gigawatts of renewable energy across borders and build 22,000 circuit-kilometers of transmission lines.

The program also targets expanded energy access for 200 million people, the creation of 840,000 jobs, and a 15-percent reduction in regional power sector emissions. Further, the bank expects to finance roughly half of the $50 billion requirement, while the rest will come from cofinancing arrangements, including private sector capital. Up to $10 million in technical assistance will also support regulatory alignment, technical

standards, and early-stage project preparation.

The effort builds on existing regional frameworks such as Asean’s Power Grid plan and other subregional cooperation efforts in South and Central Asia, but shifts the approach toward a more connected, continent-wide system for energy trade.

Running alongside this is the Asia-Pacific Digital Highway, a $20-billion program aimed at expanding broadband access and building infrastructure for an AI-driven economy.

Unlike traditional connectivity projects focused only on access, the plan includes a wider mix of investments, such as fiber optic networks, subsea cables, satellite links and regional data centers, along with policy support on cybersecurity and digital regulation.

The initiative aims to provide first-time broadband access to 200 million people and improve connectivity for another 450 million across the region, according to the bank. It also targets a 40-percent reduction in con-

nectivity costs in remote and landlocked areas and the creation of up to 4 million jobs.

Of the $20 billion needed, ADB plans to finance $15 billion directly, with the rest expected from cofinancing partners, including private investors.

To anchor the region’s shift toward artificial intelligence, ADB will also establish a Center for AI Innovation and Development in Seoul, backed by a $20-million contribution from South Korea. The center is expected to train around 3 million people in digital and AI-related skills by 2035.

ADB President Masato Kanda framed both efforts as a long-term shift in how the region builds growth, saying energy and digital access are no longer separate policy goals but shared foundations for development.

“By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people,” Kanda said.

In the case of the El Nido water project, Lapid told the BusinessMirror, “We want to start the project by July at the latest, as we aren’t sure of our source of funds next year. And we are doing this in one go. We can’t do projects in phases anymore as we may run out of funds.”

He added that, the LGU headed by Mayor Edna Gacot-Lim, still has to revert with the “adjustment in the feasibility study” for the project, which is a Water Supply Treatment System that will provide a water distribution line, new treatment facility, and water storage tanks.

‘DENR threatened closure’

IT will [enhance] water quality to meet the Philippine National Standard for Drinking Water. This effort aims to support the growth of the local economy, especially the tour-

ME impact on travel taxes HOWEVER , the final amount may be revised after adjusting remitatances from airlines, which collected the tax when its passengers paid for their tickets. Travel taxes fund the operations of Tieza (50 percent), the Commission on Higher Education (40 percent), and the National Commission for Culture and the Arts (10 percent).

“Definitely, there is an effect on us because there are flight restrictions going to Europe via the Middle East, but others are flying via Singapore and other Asian countries,” he said. “So we’re looking at June, when we may feel the impact,” he noted.

Asked how Tieza will complete its projects if travel taxes decrease

Editor: Jennifer A. Ng

ICTSI: Strong Q1 results due to higher volume, revenues

By Lorenz S. Marasigan @lorenzmarasigan

INTERNATIONAL Container Terminal Services Inc. (ICTSI) said on Monday its recurring net income attributable to equity holders climbed 29 percent to $308.27 million in the first quarter of 2026 from last year’s $239.54 million, driven by double-digit growth in throughput, revenues, and earnings across its global terminal network.

Reported net income attributable to equity holders reached $293.57 million, up 23 percent from $239.54 million a year earlier, stripping the one-time charge from the sale of Yantai International Container Terminal

(YICT) in Shandong Province, China. “ICTSI delivered a robust start to 2026, with double-digit growth in revenues… reflecting the strength of our diversified global portfolio of disciplined execution across our

operations,” ICTSI Chairman Enrique K. Razon said.

Gross revenues from port operations surged 29 percent to $961.11 million from $745.42 million a year earlier, while Earnings Before Interest, Taxes, Depreciation and Amortization (Ebitda) rose 26 percent to $617.87 million from $489.59 million.

The top-line growth was fueled by two newly operational terminals: Durban Gateway Terminal (DGT), which assumed port operations at DCT Pier 2 in the Port of Durban, South Africa, in January 2026; and Batu Ampar Container Terminal (BACT), which began operations in Batam, Indonesia, in September 2025.

Revenue gains were also supported by tariff adjustments, a favorable container mix, higher ancillary service revenues at select terminals, and the apprecia -

tion of the local currencies against the greenback.

Throughput reached 4.08 million twenty-foot equivalent units (TEUs) in the quarter, up 18 percent from 3.47 million TEUs in the first quarter of 2025.

Cash operating expenses rose 40 percent to $261.81 million from $187.66 million in the same period last year. ICTSI said ongoing cost optimization measures partially cushioned the increase.

Capital expenditures for the quarter, excluding capitalized borrowing costs, amounted to $117.94 million. ICTSI has earmarked $740 million in capital spending for the year.

“As we progress with strategic expansions across our network, we remain committed to maintaining financial discipline and executing our long-term strategy to deliver sustainable value for our shareholders,” Razon said.

Semirara readies coal mining plan

SEMIRARA Mining and Power Corp. (SMPC) will pursue a mining plan that it is currently developing in the event that its coal operating contract (COC) is not awarded again to the Consunji group.

“In preparation, we are developing the best mine plan that would support the country’s energy security, while ensuring the continuity of government revenues and community investments.

The group is well-positioned to do so, drawing on nearly three decades of operating experience in Semirara Island, including managing increasingly complex mining conditions such as water seepage,” said SMPC President and Chief Operating Officer Maria Christina Gotianun during the company’s annual meeting held Monday.

The Department of Energy (DOE) has launched a competitive bid round for coal development and production areas, including blocks in Semirara Island. SMPC’s COC is still valid until 2027 but the agency has included

ACEN unit gets loan for BESS

ACEN Corp. has approved a P850-million loan to Palauig Solar 1 Inc., which is developing a battery energy storage system (BESS) in Zambales.

“On 1 May 2026, ACEN executed a short-term loan agreement with its wholly owned subsidiary, Palauig Solar 1 Inc., for up to P850 million,” the company told the stock exchange on Monday. Palauig Solar 1 Inc. is the project company for the Palauig 1 BESS project, a 35- megawatt/140 megawatt hour (MWh) BESS facility to be located adjacent to, and integrated with, the 63-megawatt direct current (MWdc)/50-MW alternating current (MWac) Palauig Solar 1 plant in Brgys. Salaza and Cauayan, Palauig, Zambales.

ACEN currently has 7 gigawatts of attributable renewable energy capacity spanning projects in operation, under construction and with signed agreements. Lenie Lectura

By Lenie Lectura @llectura

HE Manila Electric Co.

T(Meralco) reported a 2-percent hike in profit at the end of the first quarter to P11.426 billion from P11.172 billion in the same period last year.

On Monday, Meralco officials said the 2-percent growth in its consolidated core net income (CCNI) was backed by “strategic initiatives and responsible financial management.”

Meralco’s distribution utility (DU) business accounted for 46 percent of the CCNI, power generation contributed 45 percent, while the retail electricity supply (RES) and non-electricity businesses covered the remaining 9-percent share.

which accounted for 62 percent of the total rate.

Its energy sales dipped 1.8 percent to 12,273 gigawatt hours (GWh), primarily due to the cooler weather conditions which dampened demand, while Clark Electric Distribution Corp. (Clark Electric) posted a 1-percent growth in sales. Shin Clark Power Corp. (Shin Clark) contributed an additional 0.7 GWh to consolidated sales.

The residential segment accounted for 34 percent of total sales, with a volume of 4,111 GWh, down 3 percent from 4,257 GWh in the prior year.

these blocks in the competitive bid round for coal development and production areas under the Philippine Conventional Energy Contracting Program (PCEP).

The PCEP process aims to ensure a transparent a competitive contracting framework, with proponents evaluated based on their technical capability, financial capacity, work program, safety standards, and environmental safeguards. Bidders will be evaluated based on technical capability and track record, as well as financial strength, and their proposed work programs. As of last week, the DOE deferred the submission and opening of bid documents.

“If you look at SMPC, we’ve been doing this for close to three decades, large scale, complex mining, growing production and delivering on our commitments. With this expertise, we’re putting forward a mine plan that keeps production steady, supports energy security and continues delivering for the government.

At the same time, we remain

prudent. Given the more supportive direction for responsible mining, we have the flexibility to redeploy our capabilities, people and capital across other opportunities in the sector where we can contribute to create value,” added Gotianun.

Meantime, SMPC Chairman Isidro Consunji said operations will continue while the company prepares the best mine plan aligned. He said the company has been in discussions with the DOE since 2023 regarding the term adjustment of its COC for the 13.3 year-period when operations in Semirara were under government management.

Consunji said his team has actively and consistently conveyed the company’s position on this matter. “While the area has been opened for a competitive bidding process, we have not received a formal response to our request. We will approach this constructively and with confidence, with a focus on continuity of operations.”

He maintained that his team is well positioned to continue opera-

tions. “In the current energy environment, continuity remains important to energy security, reliable supply, stable electricity costs, government share revenues, and support for our host communities.”

SMPC is the largest and most modern coal producer in the Philippines. Its power units--Sem-Calaca Power Corp. (SCPC) and Southwest Luzon Power Generation Corp. (SLPGC)-provide baseload power to the national grid through bilateral contract quantity and the Wholesale Electricity Spot Market (WESM).

Gotianun said SMPC has put in place fuel efficiency programs to address the rising cost of fuel brought about by tensions in the Middle East.

“While developments remain fluid, we have fewer supplies coming and continuously exploring alternative fuel sources with lower premiums. At the same time, fuel efficiency programs are also implemented to conserve fuel, such as the company’s off take from the DMCI Power wind energy to reduce overall diesel consumption.” Lenie Lectura

Bataan Freeport bids out golf course project

By Henry Empeño

ARIVELES,

MBataan – The Authority of the Freeport Area of Bataan (AFAB) has invited bidders for the Phase 1 development of a golf course project with an approved contract budget of P30 million. According to an invitation to bid posted on April 28, the project will involve the design, project management, and build of a driving range facility with clubhouse under a contract period of 300 calendar days. AFAB will award the project to the bidder with the lowest calculated and responsive bid, the announcement added.

The Freeport authority has set the deadline for submission of bids on May 20, 2026. Bids should be received by 9:30 a.m. that day at the AFAB Procurement Management Division, AFAB Administration Building here. Opening of the bids will start at 10:00 a.m., May 20, at the AFAB Audiovisual Room 3, also at the AFAB Administration Building. AFAB indicated that the bidding will be conducted through open competitive bidding procedures us-

ing a non-discretionary “pass/fail” criterion, as specified in the 2025 implementing rules and regulations of Republic Act (RA) 12009, or the New Government Procurement Act (NGPA).

The mandatory “pass/fail” preliminary examination evaluates if the documents submitted by a bidder are present, complete, and sufficient. A bid is marked “passed” if all required documents are submitted, or “failed” if any are missing or insufficient.

The Bids and Awards Committee

(BAC) thereafter will verify legal, financial, and technical documents to determine the bidder’s eligibility at the opening of the bids.

AFAB said the bidding is open to all interested parties, whether local or foreign, subject to the conditions of eligibility under RA 12009.

Bidders should have completed a contract similar to the project, as indicated in the bidding documents. The completed similar projects that will be considered include design and build projects for facility or commercial buildings, AFAB added.

Revenues were up 5 percent to P120.779 billion at end-March from P114.511 billion last year. Of which, electricity revenue stood at P118.097 billion.

Reported net income, meanwhile, improved to P10.833 billion in the first quarter from P10.488 billion.

Meralco’s average retail rate went up by 12 percent to P12.39 per kilowatt hour (kWh) in the first quarter mainly due to a 10-percent increase in generation charge,

“Recovery toward the summer months was tempered by intensified energy conservation measures following the escalation of the Middle East conflict. We estimate that 3 to 5 percent of potential energy sales were foregone due to the adoption of four-day work weeks, work-fromhome arrangements, shorter mall operating hours, and similar demandcurtailment initiatives. These effects were partly offset by faster customer energization, which helped cushion the overall sales decline,” said Meralco chief operating officer Ronnie Aperocho during a news briefing on the company’s first quarter financial performance.

PHOTO FROM WWW.MERALCO.COM.PH

THE Authority of the Freeport Area of Bataan administration building in Mariveles, Bataan.

Banking&Finance

Customs’s take up amid tight revenue pipe

By Reine Juvierre Alberto @reine_alberto

THE Bureau of Customs (BOC)

collected a total of P325.808 billion in the first four months of the year, sustaining strong revenue growth despite global trade headwinds and reduced fuel excise taxes that squeezed revenue streams.

Preliminary data from the BOC showed that its revenues rose by 6.4 percent, or P9.729 billion, from P306.210 billion in the same pe -

The psychology of wealth: How your subconscious shapes money habits

WE do not give enough credit to the role of our subconscious in manifesting wealth.

We are naturally wired to use our senses for survival. Our ancestors use their senses to outsmart another in hunting for food. This is true until now. Whether we admit it or not, our senses help us measure if we are better than our neighbor. There are moments when our neighbor does better than us. We smell the fresh paint on their house. We hear the engine of a new car. And we see him on social media travelling every quarter with his family. We then figure out where we were remiss. We go over the fundamentals of personal finance: from planning, building an emergency fund, acquiring life insurance with both living and death benefits and investing for our key life goals. We did what we had to do; or so it seems.

As a financial planner with six years of experience, I have seen people fail to break through because they underestimate the power of their subconscious mind.

Dr. Joseph Murphy, author of “The Power of your Subconscious Mind,” postulates that the subconscious mind is a powerful force that governs habits, health and success. For most people, the subconscious runs on a program acquired from the environment. In Filipino households, parents play a vital role in shaping the subconscious, instilling values that make children known for their respect, helpfulness and resilience. This parental programming also influences our finances. Scarcity and over-dependence are two prominent acts that make us incoherent. Incoherence produces mixed signals. We can read, plan and think wealth all we want; but results may not come if our subconscious is outof-sync.

Fear-driven decisions and excessive caution are the results of having a scarcity mindset. People with this mindset think that money and resources are never enough. You may have a relative who keeps outgrown clothes and worn-out garments. There may also be reluctance to part ways with old gadgets.

Cluttered piles of old, unused items cloud your thinking and reinforce the belief that you cannot achieve newer, better things.

Overspending, low confidence and the increased probability of debt are the results of over-dependence. In Filipino culture, over-dependence is a delicate balance to navigate. While the intention—to support one another as relatives—is noble, it can lead to significant repercussions if not managed with restraint.

Every family has a breadwinner with immense potential ahead of them. They invest time in reading articles and learning from financial experts to manage money wisely. Yet, relatives expect them to shoulder debts or purchase appliances— even when these expenses fall outside the breadwinner’s budget. This is not a scene from a teledrama—it is reality.

According to Dr. Joe Dispenza,

riod a year ago.

This enabled the BOC to surpass its target of P314.660 billion by 3.5 percent, translating to a surplus of P11.148 billion—the highest cumulative surplus for the Januaryto-April period in the past 10 years.

The strong outturn was also driven by its record-breaking April performance, with collections reaching P86.400 billion—the highest ever for the month.

This was 15.7 percent higher than the P74.67 billion recorded a year ago and 9.9 percent above the P78.600-billion target.

Customs Commissioner Ariel F. Nepomuceno said the BOC’s col -

95 percent of our behaviors, emotions and reactions are stored in the subconscious mind, effectively running on autopilot. When our environment leans on scarcity and over-dependence, we are frequently overpowered. We accept it as reality and, eventually, our identity. We hear inner voices whispering, “I don’t deserve a comfortable life because I am unworthy.” We begin to question ourselves: “What will my relatives and friends say if I succeed?” And slowly, fear of success takes root.

Transformation is possible, but the process is long. That is why change is hard. It is easier to stay in our comfort zone.

The first step to solving any problem is to identify it clearly. Be mindful of limiting programs, such as the scarcity mindset or over-dependence. Recognize the power of breaking the cycle. Each time we break free, we rewrite our life story—allowing us to invest consistently in our goals, without drama or distractions.

The second step is to act. For Dr. Bruce Lipton, our perspective is limited to how much we know. Seek out people who embody wealth beyond your immediate circle. Though easier said than done, this step is essential. Tune in to podcasts by reputable financial planners and successful entrepreneurs and do not hesitate to reach out—whether by email or chat—to validate your ideas and expand your perspective. There is a phrase in neuroplasticity that states “Cells that fire together, wire together.”

This is the third step: repetition. In the context of a typical belowmiddle to middle-income household, the ability to say no is a skill. We cannot consistently meet the required monthly subscription for our target investment fund if we divert a portion of our funds to relatives or friends in need of cash.

It is essential to practice embodiment. We must embody wealth even before we attain it. I strengthen this mindset by spending time in hotel lobbies or upscale cafés, reminding myself that I am worthy of abundance and that I deserve this life.

Life may not always seem fair, but the ability to attract and create wealth is an opportunity available to everyone. No matter our current financial state, we hold the power to reprogram ourselves and focus on coherence. We must keep believing, even when we stand alone. When mind and heart are in harmony, wealth naturally flows toward us.

Marion Irvin Sales Evangelista is a registered financial planner of RFP Philippines. The views and opinions he expressed herein do not necessarily represent the BusinessMirror . To learn more

lection performance reflects the discipline and consistency of its personnel across ports.

“Even in the face of global uncertainties and policy shifts that affect our revenue base, we continue to deliver results that directly support government programs and national development,” Nepomuceno was quoted in a statement as saying.

The BOC noted that collections grew despite external headwinds, including the ongoing Middle East war that disrupted global trade and the temporary suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene starting

April 2026. It added that sustained gains were supported by stronger valuation practices, improved monitoring systems and continued digitalization of customs processes.

“[This underscores] the Bureau’s sustained revenue performance and strong start toward its trillion-peso goal for 2026,” according to the BOC.

The government has ordered the the BOC to collect P1.003 trillion.

Earlier, Customs Assistant Commissioner Vincent Philip C. Maronilla said that the weaker peso helped cushion the BOC’s revenue

collection. (See: https://businessmirror.com.ph/2026/04/29/ peso-dip-offsets-losses-fromtax-pause-boc/ ) A stronger dollar would raise the value of imports and, consequently, lead to higher import duties for the Bureau to collect, Maronilla said. This helped “balance out” the losses from the excise tax suspension, he added. Despite the headwinds that weaken the BOC’s revenue collection, Maronilla said the BOC will not seek a downward adjustment in its target if it can offset losses through improved revenue efficiency and non-traditional sources.

T-bill yields still up as markets brace for faster inflation

YIELDS on Treasury bills (Tbills) ticked higher for the second straight week as investors priced in higher inflation for April and chances of further interest rate hikes.

At Monday’s auction, the 91-day T-bill yield averaged at 4.711 percent, up by 15.3 basis points from 4.558 percent in the previous auction a week ago. The Bureau of the Treasury accepted rates ranging from a low of 4.625 percent to a high of 4.750 percent.

The 182-day paper likewise saw its average yield increase by 22.7 basis points to 4.964 percent from last week’s 4.737 percent. Awarded yields ranged from 4.850 percent to 5.048 percent.

Similarly, the 364-day tenor climbed by 19.3 basis points to 5.377 percent from 5.184 percent, with the Treasury accepting bids between 5.2

BSP

percent and 5.5 percent.

According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., T-bill yields are now hovering near one-month highs as markets brace for faster inflation.

Ricafort said the market expects inflation to pick up further in April due to the effects of higher oil prices on the costs of other goods and services. The latest inflation data will be released on May 5.

Ricafort added that yields were also pushed higher by the recent 25-basis-point rate hike by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) on April 23, which brought the policy rate to 4.50 percent.

Monetary authorities have turned more hawkish as further increases in policy rates are part of its calculation to hedge against inflation molded by persisting conflicts in the

eases rules

for banks not in PhilPass ecosystem

By Andrea Louise San Juan

THE Bangko Sentral ng Pilipinas (BSP) has released a set of guidelines on the temporary measure allowing banks not registered in the “Philippine Payment and Settlement System Plus,” or “PhilPaSSplus,” and/or the “Integrated Currency Management” (ICM) system to withdraw currency directly from the BSP during calamity and emergency situations.

In its Memorandum M-2026-015, the central bank said this measure is temporary, effective only until December 31, 2027.

Under this temporary measure, once a state of calamity is declared covering the city or municipality where the currency servicing unit (CSU) is located, the BSP said the currency withdrawal period shall be upon resumption of work during the state of calamity and within five working days after the lifting of the state of calamity.

Meanwhile, if work suspension is declared in the city or municipality where the CSU is located due to calamities,

related incidents, or emergency situations that “significantly” disrupt banking operations in the area, the currency withdrawal period shall be within five working days upon resumption of work.

Prior to the CSU’s initial currency withdrawal transaction, however, the central bank said the banks shall submit to the BSP the required authorization documents for each CSU, subject to the approval of the head of the regional operations sub-sector.

To ensure that their CSUs can directly withdraw currency from the BSP during calamity and emergency situations, banks are “highly encouraged” to submit authorization documents in advance or at least three working days prior to the CSU’s initial currency withdrawal transaction.

The bank’s head office are required to submit authorization documents for each CSU.

According to the BSP, CSUs with approved and valid authorization documents shall be allowed to withdraw currency directly from the BSP regional office or branch under this temporary measure.

Pinoys borrow on practical, family bases—Metrobank

ILIPINO borrowers continue to favor “practical,” family-oriented purchases with sports utility vehicles (SUVs) and house-and-lot properties emerging as the top loan choices, according to the Metropolitan Bank & Trust Co. (Metrobank).

A statement issued by the lender last Monday read that home loan applicants still favor house-and-lot developments over condominium and townhouses, despite the “trend” of vertical living.

Metrobank believes this predilection reflects the “long-standing aspiration” among Filipino families to own a land and have more space for multigenerational living. The third-largest lender in terms of assets didn’t cite the bases for its views.

The preference also mirrors broader trends in the residential market, the bank added, citing data by a property

consultancy firm. The unnamed firm noted “sustained demand” for horizontal housing developments, particularly in suburban areas where families can access larger living spaces and communityoriented neighborhoods.

“Housing continues to be one of the most important long-term financial goals for Filipino households. Studies by the Bangko Sentral ng Pilipinas show that property ownership remains a key aspiration tied to financial security and long-term wealth building,” read the statement.

Meanwhile, in the automotive segment, SUVs remain the “most popular” vehicle type among borrowers, overtaking sedans due to their larger seating capacity and versatility for family use.

The lender noted that a “similar pattern” is seen in vehicle financing. Andrea Louise

Middle East. According to Ricafort, the lack of progress on negotiations between Washington and Tehran signals the war is far from deescalating. President of the United States Donald Trump has announced indefinite ceasefire since April 7.

Results were mixed on Monday’s T-bills auction, with the Treasury fully awarding the 91-day T-bills but only partially awarding the longer tenors. The government raised P28.07 billion out of the P31 billion on offer, even as the auction was 1.4 times oversubscribed, with total tenders reaching P44.295 billion.

Demand was strongest for the 91-day T-bills, as bids amounted to P20.425 billion, or 1.7 times the P12-billion offering, which was fully awarded by the Treasury.

For the 182-day tenor, the Treasury capped awards at P9.680 billion

despite receiving P15.980 billion in tenders, or 1.5 times the programmed amount. Meanwhile, demand for the 364day securities was weaker, with tenders at P7.890 billion. Of this, only P6.390 billion was awarded out of the P9-billion offering. This month, the Treasury aims to raise up to P268 billion by auctioning government securities, of which P128 billion will be borrowed through Treasury bills and P140 billion through T-bonds. As of the first quarter, the government’s gross borrowings reached P1.003 trillion, up by 34.69 percent from P745.142 billion in the same period last year.

For 2026, the government aims to raise a total of P2.682 trillion, following a borrowing mix of 77:33 in favor of domestic sources. Reine Juvierre S. Alberto

LandBank to offer loans to DOST-backed MSMEs

MICRO, small and medium enterprises (MSMEs) and startups are expected to gain better access to financing after the Department of Science and Technology (DOST) partnered with Land Bank of the Philippines (Landbank) to bridge innovation support and bank lending.

A memorandum of understanding (MOU) signed by Landbank and DOST representatives last Monday is expected to enable DOST-assisted MSMEs and startups to tap the bank’s lending facility. The loan is expected to help turn their technologies and ideas into sustainable, market-ready businesses.

The LandBank offers three loan options: up to P500,000 for startups operating for less than a year, up to P5 million for expanding micro and small enterprises and up to P50 million for SMEs undertaking larger transformation and technology-driven projects.

According to the DOST, it will identify and endorse qualified MSMEs and startups to the Landbank. Its personnel will also help prepare loan applications, complete requirements and navigate the financing process.

Under the MOA, the LandBank will evaluate applications endorsed by the DOST, release loans to eligible borrowers and monitor loan accounts.

DOST Secretary Renato U. Solidum was quoted in a statement as saying he expects the lending facility “will provide our kababayans [compatriots] with the confidence to see science, technology and innovation as a profitable industry,”.

“This collaborative effort with [the] LandBank shall foster the rise of new startups that would eventually create more job opportunities and better income and better development for our country,” Solidum added.

Reine Juvierre S. Alberto

By Butch Fernandez @butchfBM

PERSONAL FINANCE

Marion Evangelista

Art BusinessMirror

BY TROI SANTOS

NEW YORK CITY—It was early 2024, and Max Hollein had just proposed something audacious: spending millions on technology to display clothes too fragile to wear. Some trustees shifted uncomfortably. The Metropolitan Museum of Art, or simply The Met, was still recovering from pandemic losses. Was this really the moment to gamble on an experimental fashion exhibition?

Hollein, ever the architect’s son, had come prepared with blueprints. Not for a building, but for something his late father Hans Hollein—the legendary Viennese postmodernist who won the Pritzker Prize—would have appreciated: a structure of light, projection, and sensory immersion that would make the invisible visible. The exhibition would be called Sleeping Beauties: Reawakening Fashion” Sixteen months later, that gamble generated $26 million in a single night. By May 2025, the figure hit $31 million. And on this spring morning in 2026, as Costume Art preparations accelerate toward its opening, Max Hollein sits in his Fifth Avenue office— surrounded by Vermeers and Caravaggios—and allows himself a rare smile. The son who grew up watching his father revolutionize architecture has done something equally radical: he’s proven that fashion can be the foundation upon which an entire museum rebuilds itself.

This is not your typical museum director story.

This is the story of how an unconventional thinker with dual degrees in art history and business administration took the world’s most traditional institution and made it dangerously relevant.

Growing up in Vienna as the son of Hans Hollein meant living inside a laboratory of ideas. The elder Hollein didn’t just design buildings—he designed provocations. His 1964 manifesto Everything is Architecture argued that architecture transcended physical structures to encompass all human activity. Young Max absorbed this philosophy like oxygen. But here’s where the story gets interesting: instead of following his father into architecture, Max Hollein did something almost unheard of in the rarefied world of European museum directors.

He got an MBA. While studying art history at the University of Vienna, he simultaneously pursued business administration at the Vienna University of Economics. His peers thought he was hedging his bets. He was actually building a weapon.

That dual education—the aesthetic and the economic, the cultural and the commercial—would become his superpower. Because by the time Hollein arrived at The Met in August 2018, the museum world had changed. The old model of wealthy patrons writing blank checks was dying. Museums needed leaders who could speak both languages: Caravaggio and cash flow, Vermeer and venture capital.

According to interviews Hollein gave to the Brooklyn Rail in 2020, this interdisciplinary approach wasn’t accidental—it was essential. He understood that museums in the 21st century would live or die based on their ability to be both culturally significant and financially sustainable. Fashion, he realized, was the perfect medium to achieve both.

When Hollein took over The Met, he inherited a $400 million annual budget and a fundamental question: How do you make a 150-year-old institution matter to a generation that experiences culture through Instagram?

His answer shocked the establishment: you don’t fight the culture—you become it.

While other museum directors wrung their hands about social media cheapening art appreciation, Hollein saw opportunity. The Costume Institute’s exhibitions were inherently photogenic, inherently shareable, inherently viral. But they needed to be more than pretty—they needed to be profound.

Enter Andrew Bolton, the Wendy Yu Curator in Charge of the Costume Institute. If Hollein was the architect, Bolton was the master builder. Their partnership, according to industry observers who have watched them work, operates on a level of mutual trust rare in institutional settings. Hollein provides the resources and institutional backing; Bolton provides the curatorial vision. Neither micromanages the other. Both push each other toward excellence.

Their first major collaboration, “Camp: Notes on Fashion” in 2019, was a statement of intent. Based on Susan Sontag’s 1964 essay, the exhibition featured

250 objects and asked a deceptively simple question: What is camp? The answer—delivered through Baroque ecclesiastical vestments, Versace gowns, and everything in between—was that camp is the aesthetic of excess, irony and theatricality. It’s also, Hollein and Bolton argued, a legitimate artistic tradition deserving serious scholarly attention.

The exhibition drew massive crowds. More importantly, it drew a different kind of crowd— younger, more diverse, more engaged. These weren’t people who came to The Met out of obligation. They came because they wanted to be part of the conversation.

But “Camp” was just the opening act. Hollein’s real ambition revealed itself with “In America,” the twopart series that ran from 2021 to 2022. Here’s what made it brilliant: instead of treating American fashion as a separate category, Hollein and Bolton integrated it into the American Wing’s period rooms. Suddenly, a Ralph Lauren gown wasn’t just a beautiful object—it was in dialogue with Duncan Phyfe furniture, Tiffany glass, and John Singer Sargent paintings. This was Hollein’s father’s philosophy in action: everything is architecture. Or in this case: everything is context. By placing fashion within the broader narrative of American decorative arts, Hollein elevated both. The fashion gained historical weight; the period rooms gained contemporary relevance.

According to museum professionals who worked on the installation, this approach required delicate negotiations. Curators from different departments had to collaborate in unprecedented ways. Some were skeptical. Hollein’s response, as reported in internal discussions, was characteristically direct: The Met’s strength is its encyclopedic collection. Why would we keep these conversations separate?

The exhibitions succeeded beyond projections. But more importantly, they established a template: fashion wasn’t a separate category at The Met anymore. It was woven into the institution’s DNA. Which brings us back to that boardroom in early 2024. Sleeping Beauties: Reawakening Fashion represented Hollein’s most audacious move yet. The concept was elegant but expensive: use technology to convey the

not someone else’s vision. Monitor what things cost, and set your budget to reflect what you want. ★★★★

LIBRA (Sept. 23-Oct. 22): Unique individuals or pastimes will draw your attention. Consider what fits into your budget and schedule before committing to something that isn’t practical. Listen to what others have to say, but refuse to let anyone use emotional manipulation to undermine you. Challenge yourself mentally and physically, and you’ll gain insight into what’s possible. ★★

SCORPIO (Oct. 23-Nov. 21): Avoid rowdy crowds. Choose to expand your mind and to express your feelings with unfiltered truth and compassion. How you deal with others will determine the outcome. A lifestyle change will be linked to who you associate with and how well you relate. Do what you can to resolve issues that concern you without overreacting. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Concentrate on home, family and taking care of unfinished business. Financial matters and shared expenses will require monitoring to avoid stress and tension. Compromise and empathy will help resolve issues without malice. Channel your energy into bringing cash in instead of being frivolous. You can’t buy love, but friendly gestures, kindness and understanding will attract the right people. ★★★

CAPRICORN (Dec. 22-Jan. 19): Do not start something you cannot finish. Choose your words wisely to avoid backlash. Focus more on activities or

Of milestones and musical memories

‘THE DEVIL WEARS PRADA’ STRUTS TO FIRST PLACE WITH $77 MILLION DEBUT TWENTY years after the original, the sequel to The Devil Wears Prada made a splash in its first weekend in theaters. Driven largely by women, The Devil Wears Prada 2 earned $77 million in the US and Canada, and $156.6 million internationally, according to studio estimates on Sunday. It easily topped the box office and bumped Michael to second place, though the musical biopic held well in its second weekend, falling only 44 percent.

The Walt Disney Co.’s 20th Century Studios opened The Devil Wears Prada 2 in 4,150 locations in North America. Women made up about 76 percent of the ticket buyers, according to PostTrak exit polls; 74 percent said they would “definitely recommend” the movie to friends. Critics were a bit mixed on the sequel, which finds Anne Hathaway’s Andy Sachs working once more for Meryl Streep’s Miranda Priestly at the fictional Runway magazine in a much-depleted media landscape.

The movie cost a reported $100 million to produce—a significant boost from the first movie’s $35 million production budget. But as filmmaker David Frankel told The Associated Press recently, “As it turns out, you know, by the time you finish paying all the biggest movie stars in the world, you still end up with basically the same budget for making the movie as we did the first one.”

Stars Streep, Hathaway, Emily Blunt and Stanley Tucci have been on a fashion-forward global publicity blitz for weeks, with glamorous stops in Tokyo, London and New York. Even Anna Wintour, the inspiration for the Prada-clad devil, has been involved this time, appearing with Hathaway on the Oscars stage and with Streep on the cover of Vogue

The first movie opened in June 2006 and would go on to earn over $326 million worldwide, not adjusted for inflation. And perhaps more importantly, it firmly became part of the culture thanks in part to its ever-quotable likes (“gird your loins,” “groundbreaking,” “that’s all”). Legacy sequels are never a sure thing, but this time anticipation was high: According to Nielsen, streaming viewership for The Devil Wears Prada was up 428 percent from March 2026 to April 2026. Second place went to Lionsgate’s Michael Jackson biopic Michael

“This is on the great end of what we had speculated might happen, but we were very confident that we were going to have a great hold even with the assumption that ‘Prada’ would do a lot of business,” said Lionsgate Motion Picture Group chairman Adam Fogelson.

This weekend marks the start of Hollywood’s summer movie season, a crucial 18-week corridor that runs through Labor Day and often accounts for around 40 percent of the annual box office. There are often Marvel blockbusters programmed as the season’s kickoff, but the combined power of The Devil Wears Prada 2 and Michael wasn’t a shabby substitute.

“This is a really solid weekend,” said Paul Dergarabedian, the head of marketplace trends for Comscore. “It’s this irresistible combination that more than makes up for the fact that there’s not a Marvel movie to kick off the summer movie season.” AP

IT has been 25 years since the song “Pagdating ng Panahon” reshaped the landscape of the local music industry, and it also defined a turning point in the career of Ice Seguerra.

With music by Moy Ortiz from the lyrics of Edith Gallardo, the song became a phenomenal hit when it was released in 2001, and it was very much considered a rebirth for the singer, then still known as Aiza Seguerra, a former child wonder on film and television who found both solace and security in music, and who eventually evolved into his own brand, carrying the new name Ice Seguerra.

Twenty-five years after the release of what is touted as one of the most memorable Filipino love songs of all time, Seguerra has released a newlyrecorded special anniversary edition of his signature song, now available on all music streaming platforms.

“Recording the song after 25 years was both surreal and nostalgic. Memories started to flash back, the emotions now more layered, the feelings more profound. The meaning of the song has also evolved with time, and that is where the magic lies when you connect the present to the past,” he intoned.

Seguerra also admitted that the first time he recorded the song two and a half decades ago, it did not resonate with him as much as the song did in recent years.

“When the song became a hit, people were telling me that they felt the song and it touched them profoundly, but it was a bit puzzling for me since the song did not really hit my core back then. It was after many years later when Liza (Diño) and I reconciled that the song truly resonated with me—every word, every line, every melody. It was then that I realized that it was my song—lyrics, feelings, the way I’d sing it and all, that it is my song,” Seguerra recalled.

Diño, who took on the music producer’s role in this special recording project, is elated as well. “It is not only a milestone for a song that has remained so well-loved by Filipinos all over the world, but a celebration and continuation of the song’s journey. As the producer, it is rare to work on a piece of music that continues to resonate this deeply across generations, moreso that the singer is also at the core of my colorful life’s journey as well.”

The new recording also underscored the enduring relationship that Seguerra has with Vicor Music Corp., just like life’s many inevitable cycles. By revisiting the special track twenty five years later, the partnership preserves a legacy of a most beloved hit song while introducing it to a totally new generation that connects with music through modern-day digital platforms.

MIGUEL TANFELIX

HOSTS TRAVEL IMMERSION SHOW

TRAVELING has always been something Miguel Tanfelix looks forward to. If he gets long breaks from his work as an actor, Tanfelix almost always makes

institutional credibility, curatorial excellence, and strategic vision. Neither tries to do the other’s job.

time to go on a trip.

“I love to commune with nature, and traveling offers me a feeling I can hardly describe and put into words. Every time I go on a travel adventure, I experience a different kind of high. I love the seas and the oceans, the mountains and the hills. I like being on a plane, on a boat, I love long drives to amazing destinations. I love every adventure connected to travel,” he enthused.

Which is why it’s definitely the perfect time for this Sparkle contract artist to take on his first solo hosting job by way of Planet XP, the latest magazine infotainment special from GMA Network which will take both Tanfelix and the viewers into immersive adventures and real-life encounters with nature.

According to Tanfelix, this project is a milestone of sorts for him as an artist. “For someone who literally grew up in show business, where acting has become second nature, being entrusted this hosting job is very special. Not only because it gives me a new area to explore and learn, but because it comes with something I’ve always loved, which is travel.”

Tanfelix is aware that this new show is doubly exciting because it will bring him to places he has never set foot to, and he will get the chance to meet many people and communities that he can learn so much from.

“I am so excited because of the many adventures lined up that I’m sure will delight our viewers. I have to also keep healthy and fit because this is not only an ‘intro-extro’ type of hosting but an immersion in the different activities we have lined up.”

Not too long ago, Tanfleix also became part of GMA Entertainment Group’s “Be Juan Tama” campaign, together with celebrities Boy Abunda, Chris Tiu, and Dingdong Dantes. Through this advocacy, these ambassadors will encourage viewers to choose content that fosters mental,

for Children’s Television (NCCT) which airs every Saturday on GMA Network and the network’s Playground YouTube channels.

Jillian Ward, David Licauco, Kylie Padilla, and Miguel Tanfelix banner this year’s Bangus Festival

A NIGHT of vibrant celebration, non-stop entertainment, and unstoppable energy was for Dagupeños to enjoy on on April 30 as GMA Regional TV brought some of the network’s wellloved stars to Dagupan City to join the muchawaited celebration of Bangus Festival 2026.

Hearts were full as the cast of Never Say Die Jillian Ward, Analyn Barro, and David Licauco— delivered some captivating performances and surprises in the Kapuso Fiesta.

Elevating the celebration and adding a dose of excitement to the unforgettable event were Kylie Padilla, Buboy Villar, Cheska Fausto, John Vic De Guzman, and Miguel Tanfelix from the upcoming GMA series Task Force: Firewall

Keeping the energy flowing and the fans engaged was GMA host Pepita Curtis.

Never Say Die airs weeknights at 8:55 pm on GMA. Meanwhile, the public can look forward to the world premiere of Task Force: Firewall soon.

sensory experience of garments too fragile to display conventionally. The execution required video animation, light projection, scent diffusion, and soundscapes. It required partnerships with technology companies. It required, in short, the kind of investment that makes trustees nervous.

But Hollein had done his homework. He presented data showing that innovative exhibitions drove not just attendance but membership, donations, and long-term engagement. He showed comparative analysis from other institutions. He made the business case alongside the artistic case. According to sources familiar with the deliberations, what sealed the deal was Hollein’s argument that The Met couldn’t afford not to innovate. Peer institutions were struggling precisely because they were playing it safe. The Met’s advantage was its willingness to take calculated risks.

The exhibition opened in May 2024 to immediate acclaim. Within weeks, it had drawn 177,000 visitors—making it one of the fastest-selling shows in Met history. Social media exploded with images and reactions. The technology worked flawlessly. And the 2024 Met Gala, themed Garden of Time, raised $26 million.

One year later, the 2025 gala raised $31 million—the highest single-night fundraising total in the event’s history. None of this happens without Anna Wintour. Her partnership with Hollein, while conducted with characteristic discretion, represents one of the most successful collaborations in cultural philanthropy. Industry observers who have watched them work describe a relationship built on complementary strengths. Wintour brings unparalleled access to fashion’s elite, celebrity networks, and media influence. Hollein brings

Their public appearances together—at exhibition previews, gala announcements, and press conferences— reveal a working relationship characterized by mutual respect and shared ambition. Both understand that the Met Gala’s success depends on maintaining a delicate balance: it must be spectacular enough to generate global attention while remaining substantive enough to justify The Met’s involvement.

According to fashion industry executives who have attended multiple galas and spoken to trade publications, the event under Hollein’s directorship has evolved from a significant fundraiser into a global cultural phenomenon. The media value generated—estimated in the hundreds of millions—amplifies The Met’s mission far beyond what traditional marketing could achieve. As Costume Art approaches its May 4, 2026 opening, Hollein is already thinking three moves ahead. The exhibition, which will examine the dressed body across cultures and time periods, represents the logical evolution of his philosophy.

By juxtaposing fashion with objects from across The Met’s collection—ancient Egyptian textiles, Renaissance paintings, contemporary sculpture—the show will argue that clothing is fundamental to human expression across all cultures and eras.

In announcing the exhibition, Hollein articulated his hope that the show would demonstrate widespread agreement that fashion qualifies as art, while also revealing how fashion transcends traditional artistic categories in significant ways. It’s a bold thesis, and one that only someone with Hollein’s combination of scholarly credibility and institutional power could advance. Industry analysts are already predicting that the 2026 Met Gala will break records again, with some projecting fundraising totals of $35 million or more. But Hollein, in conversations with colleagues, has made clear that

the numbers, while important, aren’t the point. The point is cultural impact. The point is relevance. The point is ensuring that The Met remains essential to how people understand art, culture, and themselves.

Beyond the Costume Institute, Hollein’s impact on The Met has been transformative. He’s championed digital innovation through the Open Access program, making hundreds of thousands of high-resolution images freely available. He’s strengthened the museum’s financial position through diversified revenue streams. He’s addressed complex questions of provenance and repatriation with transparency, recently returning antiquities to Cyprus and Greece. But perhaps his most significant contribution is philosophical. Hollein has demonstrated that museums can be both timeless and timely, both scholarly and popular, both traditional and innovative. He’s proven that these aren’t contradictions—they’re necessities.

Museum directors at peer institutions, speaking at industry conferences and in trade publication interviews, acknowledge that they’re studying The Met’s model. As one major American museum director told The Art Newspaper, Hollein has fundamentally changed the conversation about what museums can be in the 21st century. He’s shown that fashion exhibitions can drive attendance, generate revenue, and create cultural impact at the highest level.

Hans Hollein died in 2014, four years before his son became director of The Met. But his influence permeates everything Max has built. The elder Hollein’s belief that architecture encompasses all human activity finds its echo in the younger Hollein’s conviction that museums must engage with all aspects of culture—including fashion, technology, and popular media.

In interviews, Max Hollein has spoken about his father’s influence, particularly the idea that great design solves problems while creating beauty. That philosophy guides his approach to museum leadership. Every exhibition, every

initiative, every strategic decision must serve both aesthetic and practical purposes.

The Costume Institute under Hollein’s leadership embodies this dual mandate perfectly. The exhibitions are scholarly and spectacular, historically grounded and contemporary, beautiful and meaningful. They solve the problem of museum relevance while creating experiences that enrich lives.

As Hollein enters his ninth year at The Met, the institution he leads looks dramatically different from the one he inherited. Annual attendance has rebounded to 5.5 million. The Costume Institute has evolved from a beloved department into a cultural powerhouse.

The Met Gala has become a global phenomenon. And fashion has achieved parity with every other art form in the museum’s hierarchy.

But perhaps the most significant change is attitudinal.

Under Hollein’s leadership, The Met has embraced risk, innovation and change while maintaining its commitment to scholarship, preservation and excellence. It’s a balance that seemed impossible in 2018. Today, it’s the blueprint that other institutions are trying to follow.

The skeptics who wondered whether a European art historian with an MBA could navigate New York’s cultural elite have their answer. Not only could he navigate it—he could transform it. The whispers that greeted his arrival have been replaced by admiration, respect and, in some cases, envy.

Max Hollein has proven that museums can thrive in the 21st century. But they need leaders who understand both art and commerce, both tradition and innovation, both the timeless and the timely. They need leaders who, like the son of a postmodern architect, can see structures where others see only chaos, and can build foundations where others see only fashion.

emotional and social growth. Planet XP, which premiered on May 2, is a fiveepisode program co-produced by GMA Network and the National Council

ICE SEGUERRA (left) and Miguel Tanfelix

MGEN strengthens capacity mix amid shifting energy landscape

Meralco PowerGen Corporation (MGEN) affirms its continued commitment to strengthening the country’s energy security through a diverse and forward-looking capacity strategy that aligns with evolving national policy directions amid rising global fuel costs and supply uncertainties.

As the Philippine government reassesses the country’s energy mix in response to current global situation, MGEN’s diversified portfolio and long-term planning remain firmly aligned with the broader direction of ensuring reliable, affordable, and sustainable power.

“Our priority is to help ensure a reliable and secure power supply while supporting the country’s evolving energy mix. As more renewable energy comes into the system, maintaining adequate and dependable capacity remains essential to meet demand and support grid stability,” said MGEN President and CEO Emmanuel V. Rubio.

MGEN continues to advance a deliberate and integrated approach to portfolio development. This involves investing across renewable energy, battery storage, and firm dispatchable capacity to support the country’s energy security priorities.

Rather than developing these technologies in isolation, MGEN is building a coordinated system designed to deliver reliable, affordable, and sustainable power amid a rapidly evolving energy landscape. This approach enables the company to manage variability, respond to fuel market volatility, and meet growing demand while strengthening the role of domestic and renewable energy sources.

MGEN, through its affiliate Terra Solar Philippines Inc. (MTerra Solar), successfully energized the first 250 megawatts (MW) of its solar capacity, marking the start of its contribution as a generator to the national grid in March 2026. At the same time, MTerra Solar energized the first tranche of its battery energy storage system (BESS), enabling the delivery of up to 450 megawatt-hours (MWh) of electricity during nighttime hours using stored solar energy. This tranche already represents the largest operational BESS in the Philippines to date, strengthening grid reliability and supporting greater renewable energy integration. MGEN is targeting continued capacity ramp-up as the MTerra Solar project progresses toward full delivery.

Complementing this development, MGEN Renewables currently maintains over 400 MWac of net sellable capacity across seven solar sites in Bulacan, Ilocos Norte, Rizal, Nueva Ecija, Isabela, Batangas, and Tarlac, supporting a geographically diverse renewable

SPhilippines and Southeast Asia

energy footprint across Luzon.

In addition to its renewable energy developments, MGEN’s natural gas portfolio includes investments in LNGPH in the Philippines and PacificLight Power Pte. Ltd. in Singapore. These assets form part of its lower-carbon transition technologies, providing dependable capacity that supports system flexibility alongside variable renewable energy sources. Together, they contribute to a more balanced generation mix, supporting reductions in emissions intensity while maintaining reliable power supply across the region.

Rubio further adds: “It is about building a portfolio that works as a system—one that can reliably meet demand, adapt to changing conditions, and support the country’s longterm energy security.”

As part of its diversified portfolio, MGEN continues to invest in baseload capacity to support overall system reliability. Through MGEN Thermal, it maintains a combination of baseload and dispatchable power plants across Luzon, Visayas, and Mindanao, contributing to the provision of stable power supply amid growing electricity demand.

In Visayas, MGEN Thermal’s key assets include facilities in Panay and Cebu.

Panay Energy Development Corporation (PEDC) owns and operates coal-fired power plants in Iloilo. Established to address the need for reliable and cost-efficient power in Panay Island, PEDC has provided baseload capacity since commencing operations in 2011. Its output supplies major load centers, including Iloilo International Airport and Boracay Island, and supports the power requirements of the four provinces in Panay.

In Cebu, MGEN is present through its Cebu Energy Development Corporation (CEDC) and Toledo Power Co. (TPC). CEDC owns and operates a thermal power plant that utilizes Circulating Fluidized Bed (CFB) boiler technology, serving as the

first commercial clean coal-fired facility in the country to adopt this technology and supporting more efficient operations with lowered emissions. Together, these plant sites reliably supply more than half of Cebu Island and help boost economic activities.

MGEN continues to optimize its thermal portfolio and undertakes capacity additions as needed to support system requirements. These include the development of the MGEN Toledo BESS, with Phase 1 targeted for completion in 2026; ongoing expansions of its thermal facility in Toledo, Cebu; and the development of a 1,200 MW ultrasupercritical (USC) coal-fired power plant in Atimonan, Quezon Province. The Atimonan facility will utilize High-Efficiency, LowEmissions (HELE) technology to improve fuel efficiency and is expected to be operational by 2030, with projected output equivalent to around 7% of Luzon’s total demand.

Together, these investments contribute to energy security and grid stability, while ongoing improvements in technology and operations aim to reduce emissions intensity over time.

As electricity demand in the Philippines is projected to significantly increase by 2040, MGEN continues to align its strategy with the country’s long-term energy requirements.

While renewable capacity is expanding, firm and dispatchable power remains essential to ensure reliability. MGEN’s approach brings together renewables, storage, and baseload capacity to deliver stable, affordable energy and support a more resilient power system.

Guided by its mission of powering a better tomorrow, MGEN adopts an approach that brings together baseload capacity, renewables, and energy storage to deliver stable, affordable energy, as well as support the country’s transition toward a more resilient and sustainable energy future.

Sun Life Philippines champions women’s

financial empowerment at Go Negosyo Women Summit 2026

SUN Life Philippines took part in the Go Negosyo Women Summit 2026, reaffirming its commitment to empowering Filipina entrepreneurs through financial education, meaningful conversations, and access to practical financial tools. The Women Summit serves as a platform to celebrate the resilience of Filipina entrepreneurs while equipping them with the knowledge, support, and networks they need to grow sustainable businesses. Through its collaboration with Go Negosyo, Sun Life Philippines supported the summit’s mission by offering on-site financial consultations and insights designed to help women entrepreneurs build lasting wealth – not just for their businesses, but for their families and future as well.

A key highlight of the event was the talk of Vange Uy-Cuaki, a multi-awarded branch manager of Sun Life Philippines, who served as a resource speaker at the summit. Her session, titled “From Kita to Pera: Turning Income into Wealth,” walked participants through an important mindset shift – one that goes beyond earning and focuses on intentional financial decision-making.

Uy-Cuaki explained the distinction between kita and pera. “Kita is the result of hard work and effort, whether it comes from a salary, a thriving business, or multiple income streams,” Uy-Cuaki explains. “Pera, on the other hand, is what that income becomes through discipline and choices, reflecting how well a person saves, plans, and grows their money. The transformation from the former to the latter is where true wealth begins.”

During her session, Uy-Cuaki shared principles to help women entrepreneurs turn income into lasting wealth: Live below your means, regardless of how much you earn, to create room for savings and future opportunities.

Save and invest early, even in small amounts, to take advantage of time and compounding growth.

Build an emergency fund to stay financially prepared for unexpected challenges.

Practice discipline and consistency, as wealth is built through everyday financial decisions not one-time wins.

age you start. She concluded her session with a powerful message that resonated deeply with the audience: “True wealth is built on discipline, heart, and faith.” For Uy-Cuaki, financial success is not just about numbers; it is about values, consistency, and purpose.

Sun

McDonald’s Philippines delivers good news

with the comeback

IN the midst of unsavory news about local and global affairs, McDonald’s Philippines is delivering much needed good news as it brings back the much-beloved Twister Fries for a limited time.

Starting May 1, Twister Fries is back for fans and customers to enjoy.

“There is always clamor for McDonald’s Philippines to bring back the Twister Fries to its menu. This year, Twister Fries returns not just to delight fans, but also to bring everyday feelgood moments to our customers during this time when we all need something to brighten

of Twister Fries

our days,” says Celina Lagandaon, McDonald’s Philippines Marketing Director. Lagandaon invites everyone to enjoy Twister Fries as soon as possible because of its limited availability, saying, “Thirty-five days can go by just very fast and some regrettably missed the Twister Fries last year. This year, our customers should look forward to daily plot twists that will help them appreciate good in the world while enjoying their beloved golden Twister fries.”

Alongside the exciting return of the Twister Fries is “Your Daily Plot Twist,” digital campaign of special daily surprises during Twister Fries’ availability. Fans and customers should look forward to these daily “plot twists,” which will deliver the signature McDonald’s feel-good moments to everyone.

The McDonald’s Twister Fries can be ordered solo or sharing sizes starting at P89. It can be ordered as an add-on or fries upgrade option for all McDonald’s meals with fries. With Twister Fries available only in just a little over a month, fans and customers should not miss this opportunity to find their own Daily Plot Twists as they enjoy golden, curlyshaped delight. It is available while it lasts via dine-in, takeout, McDelivery, Grab Food, Food Panda, and drive-thru.

care. With a total floor area of 221 square meters, the 3S Shop is structured to seamlessly integrate product display, maintenance services, and the availability of genuine spare parts, allowing customers to enjoy a complete and reliable ownership journey under one roof. The grand opening program was marked by a series of activities that highlighted both celebration and community engagement. The event was graced by the presence of the leaders of both companies: Suzuki Philippines’ Yukio Sato, General Manager for After Sales Division, Daigo Morikawa, Assistant to the Motorcycle Sales and Marketing Dvision, Cyril Aguadera, Motorcycle Marketing Department Head and Dave Obrial, Regional Sales Manager for Mindanao; from Rhean Group of Companies, Engr. Edgar T. Lao, CEO and General Manager and Jeanne B. Lao, Executive Vice President for Finance and Jireh Jeanne L. Ang, Vice President

for Operations of Rhean’s Motorcycle Division.

A blessing ceremony officiated by a pastor followed shortly after, symbolizing prosperity and success for the new dealership, along with a traditional shower of coins and candies that added a festive and meaningful touch to the occasion.

Suzuki highlighted its integrated approach to deliver a seamless customer experience through its dealership network. The ceremony also included the formal awarding of the 3S Shop certificate and the introduction of the dealership’s staff.

Adding excitement to the event was the official launch of the Suzuki V-STROM 160 and DR160, which showcased the brand’s focus on versatility and adventure riding. Attendees were introduced to the models through technical presentations, product videos and discussions conducted for better appreciation by the local audience.

An interactive question-and-answer segment further enriched the experience, allowing participants to gain a deeper understanding of the motorcycles’ features and capabilities. The celebration continued with a ceremonial toast and the symbolic release of motorcycle units, followed by afternoon activities such as a live band performance, motor show, contests, and a free service campaign for selected customers.

In his special message, Morikawa emphasized the significance of the new dealership and Suzuki’s growing connection with the Mindanao riding community. He highlighted that the opening of the Tandag 3S Shop represents more than just an expansion, but a commitment

to bringing the Suzuki experience closer to riders in the province. He also noted the importance of the company’s partnership with Rhean Cycle Mart, describing it as a trusted name that has built strong credibility in parts and service, ensuring that customers receive reliable support throughout their ownership journey.

It was further highlighted that Tandag’s unique landscape, characterized by its coastal roads and rugged terrain, makes it an ideal environment for Suzuki motorcycles, particularly the newly launched V-STROM 160 and DR 160 adding that these models were built for durability, versatility, and real-world adventure, catering to riders who seek more than just reaching their destination but value the experience of the journey itself. Alongside these new models, Suzuki continues to offer its well-loved lineup, including the Raider Series, GIXXER, and scooters such as the Burgman Street and Access, ensuring that a wide range of mobility needs are met. Reinforcing Suzuki’s brand promise that the company remains “By Your Side,” supporting riders from city streets to off-road trails.

The establishment of the Suzuki Tandag Bykewheel 3S Shop reflects Suzuki Philippines’ strategic effort to strengthen its dealership network and expand its reach in key provincial areas. This development is made possible through its collaboration with Bykewheel Inc., under the Rhean Group of Companies, a dealer recognized for its strong presence and

is shaping the future of energy with a growing portfolio of

Fewer AAPI adults report hate incidents but racism concerns linger, new poll shows

By Terry Tang And Amelia Thomson-Deveaux The Associated Press

FEWER Asian American and Pacific Islander adults are reporting overt anti-Asian attacks than during the height of the Covid-19 pandemic, a new AP-NORC/AAPI Data poll finds, but many still worry about racial discrimination.

A new poll out Monday, as AAPI Heritage Month begins, from AAPI Data and The Associated PressNORC Center for Public Affairs Research finds that about onequarter of AAPI adults have personally experienced a hate crime or incident in the past year, such as verbal harassment or physical assault. That’s consistent with a survey conducted last summer, but down from an October 2023 poll where 36% said they were victims of an act of abuse tied to their race or ethnicity over the prior year.

Preliminary FBI data also reflects a decline as the pandemic receded into the background. Based on information submitted by law enforcement agencies, anti-Asian hate crimes and bias crimes overall fell between 2024 and 2025.

However, about 3 in 10 AAPI adults in the new survey think it’s “extremely” or “very” likely that they’ll be a victim of discrimination based on their race or ethnicity in the next five years.

“The key is there’s been a decline but a stabilization. So, it hasn’t declined since last year, “ said Karthick Ramakrishnan, founder and executive director of AAPI Data. “Both hate crimes and hate incidents are still an issue in our community.”

Racial discrimination and rhetoric amplified in anti-immigrant climate

The poll finds that fewer AAPI adults report experiencing verbal assaults compared to the survey from two years ago.

About 1 in 10 say they have been called a racial or ethnic slur in the past 12 months, down from roughly 2 in 10 in October 2023. Around 15% say they have been verbally harassed or abused by another person in the past year because of their race or ethnicity, down from 23% in 2023.

Advocates report that the tone of the rhetoric has shifted away from Covid-19-related tropes toward anti-immigrant sentiments.

“We’re seeing things like ‘Go back to China’ still. But, it’s more like ‘ICE is going to deport you,’” said Stephanie Chan, data and research director at Stop AAPI Hate.

“The rhetoric that’s being used to justify very harsh and aggressive immigration enforcement, all of this is also feeding into anti-AAPI hate persisting.”

Being made to feel like a foreigner is something Ambar Capoor, 52 and India-born, has encountered even in his diverse

By Aniruddha Ghosal & Jim Gomez The Associated Press

HANOI, Vietnam—He had met his 6-year-old son only once. A few days together in a life otherwise spent apart.

For 15 years, Mohammad Abdullah Al Mamun worked in Saudi Arabia, sending money home to his family in one of the poorest areas of Bangladesh. This year, he had planned to return, build a larger house with his savings and spend time with the child he barely knew. Then, on March 8, a missile struck his workers’ camp. He suffered severe burns and later died. He was among more than two dozen foreign workers killed across the Mideast after the United States and Israel went to war with Iran in February.

Tens of millions of foreign workers have helped build the Gulf Arab states’ modern, oil-fueled economies—with many not fully sharing in their prosperity. Now they face an even sharper dilemma: Keep working in the Mideast, where wages are far higher, hoping that a shaky ceasefire endures; or return to already poor countries where prices have soared because of the conflict.

Mamun’s choice was made for him. He arrived home in a coffin earlier this month.

“We don’t know what we will do next,” said his widow, Sadia Islam Sarmin.

Los Angeles neighborhood. Last year, while waiting in line at a restaurant, a white man pushed him unprovoked to get to the front.

Capoor said the man told him: “You don’t belong here. You should go back to your country.”

Capoor, who is a naturalized citizen and has lived in the US for 26 years, tries to shrug off these racist interactions.

“None of this stuff normally bothers me,” he said. “If somebody starts an altercation, that I’ll walk away from.”

But Capoor, a Democrat, thinks the divisive political climate has emboldened people to openly say racist things.

Nosheen Hamid, 36 and a stayat-home mother with a toddler, has lived in Salt Lake City since 2009. In her native Pakistan, her family was considered a minority because of their Catholic faith. In her community in Utah, which is mostly white, she says she gets racially profiled, too.

A couple of months ago, a doorto-door salesman approached her

Millions work with little protection

MIGRANT workers make up a majority of the population in many Gulf Arab states. Westerners, Arabs and Indians dominate business and finance, while laborers from poor countries in Asia and Africa toil for long hours in scorching temperatures at oil facilities and construction sites—often with few protections.

The Coalition for Labour Justice for Migrants in the Gulf, an advocacy group, says few had access to bomb shelters and many were stranded by the conflict. It says attacks killed at least 24 foreign workers in the Gulf and four in Israel as Iran and allied armed groups launched waves of missile and drones strikes. Their count includes eight mariners killed at sea.

“It’s a very precarious situation for migrant workers,” said Udaya Wagle, who studies labor and migration at the Northern Arizona University.

A ceasefire was announced in early April, but negotiations to end the war have repeatedly stalled. Iran has effectively blocked the Strait of Hormuz, a key waterway for global oil and gas, and says it will only reopen it if the war ends and the US lifts its blockade.

The resulting spike in the price of gas, fertilizer and other goods has hit Asian countries particularly hard.

Remittances from the Gulf make up about 1% of the gross domestic product of India, 3% to

5% of the GDP in Bangladesh, Pakistan and Sri Lanka; and nearly 10% in Nepal. Now they are more vital than ever, as household incomes are strained and governments seek foreign currency to buy oil and gas.

The Gulf economies also face a bleak outlook, with exports bottled up and key energy facilities in need of repair after missile strikes. The fighting could resume, as Iran rejects US President Donald Trump’s demands.

Low-wage laborers are the most vulnerable MAMUN’S family awoke on March 9 to phone calls saying the 35-yearold had been hurt. Video footage shot by another worker showed him sitting in the open, badly burned and bleeding, crying out for help.

“He never imagined he would

home and seemed surprised she lived there.

“He was like, ‘Are you renting here?’ He asked me a few times and it got to me for just a second,” Hamid said. “People didn’t expect me to be in the space that I was, work-wise, school-wise.”

Dealing with discrimination and economic stress

WITH inflation and higher gas prices as the Iran war continues, AAPI adults are much more preoccupied with economic concerns than discrimination. Around 4 in 10 say personal finances are a “major source” of stress. And about 2 in 10 say the same thing about health concerns and relationships with family or friends. In contrast, only about 1 in 10 say discrimination is currently a major source of stress in their lives. Around half don’t see discrimination as a source of stress at all.

John Magner, 58, is half white and also of Hawaiian and Chinese ancestry. He says he actually faces more discrimination from Native

be hurt. That a missile would fall on him,” said Maruf Hasain, his younger brother.

Workers like Mamun are the most vulnerable since they do the “most dirty, dangerous and difficult” jobs, said Shariful Islam Hasan of the Bangladeshi development organization BRAC.

In Qatar, a 27-year-old Bangladeshi factory worker labored through 12-hour shifts as missiles flew overhead. Shrapnel from one strike fell near his living quarters. When alarms sounded, he said, workers went to a designated room.

He earns less than $400 monthly and sends two-thirds home. “We have no choice but to keep working,” he said on condition of anonymity for fear of angering the authorities.

Qatar enacted several reforms

Hawaiians and Pacific Islanders around his home of West Jordan, Utah, who don’t believe he is part Hawaiian. The state is home to around 60,000 Native Hawaiians and Pacific Islanders, according to US census data.

Last year, a Pacific Islander customer at the hardware store where Magner works called him “cracker and a little wannabe Pacific Islander.”

But he doesn’t dwell on those interactions. He is more focused on juggling family expenses, working and getting a master’s degree in counseling.

“I work full-time but we’re struggling,” Magner said. “Inflation and then also some family stuff that’s gone on, having to pay medical bills. It’s just bills.”

Ramakrishnan, from AAPI Data, also considers whether there is less scapegoating of immigrants of color because people understand that it has no bearing on the current economy.

“The likely reasons for those economic struggles have nothing

in the run-up to hosting the 2022 World Cup, including the partial dismantling of a system that tied workers to their employers. But activists say abuses are still widespread and that workers have few avenues to pursue justice.

Ahmed al-Aliyli, a taxi driver in Qatar, has not sent money home to his family in Egypt for two months. He once earned as much as $3,000 a month but his income has plunged to a third of that as the war has disrupted travel. “We are the collateral damage of this war,” he said.

A slowdown in key sectors like real estate and construction will hit migrant workers directly, said Hasan of BRAC. Workers from Bangladesh and Pakistan are especially vulnerable, as they are often employed informally and without fixed contracts, he said.

Despite reforms in some countries, work permits are also often tied to a single employer and, in some cases, workers are effectively stranded, according to the labor coalition. It warned that some employers may use the conflict to withhold wages, deny leave or carry out arbitrary dismissals.

For many, going home isn’t an option WHEN the war began, Mamun’s mother, Shahida Khatun, urged him to come home.

He had been saving up since November. In his last call home, he promised his younger brother and sisters he would pay for their

to do with race or immigration,” he said. “They have to do with other factors, like tariffs, war on foreign policy, AI data centers. Those are all the things that people see that are driving up costs.”

Rise in hate incidents within some Asian groups HATE crimes and incidents are often underreported, and experts note that some groups under the AAPI umbrella may be experiencing incidents at a higher rate than others.

“If you look at it in the longer term, (hate incidents) are still really high compared to what it was like pre-pandemic, Chan said, referring to the FBI data. There has recently been a rise in incidents among South Asians, according to FBI data and Stop AAPI Hate. The largest spikes tend to occur “in moments of South Asian visibility,” such as New York City Mayor Zohran Mamdani’s election, Chan said. Between the current political climate and being Indian, Capoor has been carrying his US passport card on a lanyard for the past six months.

“After seeing all the reports of actual white folk getting arrested and thrown into camps and taking them like three days to get out of it,” Capoor said. “I don’t have friends in high places. I don’t have the correct skin color.”

(The poll of 1,228 US adults who are Asian American, Native Hawaiian and Pacific Islanders was conducted March 23-30, using a sample drawn from NORC’s probability-based Amplify AAPI Panel, designed to be representative of the Asian American, Native Hawaiian and Pacific Islander population. The margin of sampling error for all respondents is plus or minus 4.5 percentage points.)

studies, that he would build a larger house for his parents and return for good this spring. Now, his family is struggling to recover his wages and piece together a life without him.

“The pain of losing a child. There are no words to describe the agony,” Kathun said. For many workers, going home would mean giving up a steady income and much higher wages.

Marlene Flores, a Filipina worker in Qatar, said she felt the shudder each time a missile was intercepted. But the tax-free pay and health insurance made it feel safer—in a way—than the Philippines, which has declared a “national energy emergency.”

“It’s not easy for me to say,” she admitted, “But I would really stay here.”

Israel also has a large population of foreign workers. Filipino caregiver Jeremiah Supan continued caring for his two elderly charges despite near-daily missile alerts, sometimes dashing out for food or medicine despite the danger. He questions whether his own family could survive if he returns to the Philippines.

“I know that in the blink of an eye, one can die,” he said. “But what life shall we return to?”

Gomez reported from Manila, Philippines. Associated Press writers Al Emrun Garjon in Dhaka, Bangladesh, Sam Magdy in Cairo, and Eileen Ng from Kuala Lumpur, Malaysia, contributed to this report.

SADIA Islam Sarmin, the wife of Mohammad Abdullah Al Mamun, shows a photo of her late husband and their son on a mobile phone in Rasulpur village, Mymensingh district, Bangladesh, Friday, April 17, 2026. AP/RAJIB DHAR

MEMBERS of the Korean American Federation of Los Angeles hold signs reading: “#Stop Asian Hate,” in a caravan around Koreatown to denounce hate against the Asian American and Pacific Islander communities in the Koreatown neighborhood in Los Angeles, March 19, 2021. AP/DAMIAN DOVARGANES

heats up as JPGT goes to Pueblo de Oro

By Aldrin Quinto

CAGAYAN DE ORO—Focus will definitely be on Ethan Lago as the Visayas-Mindanao series of the International Container Terminal Services Inc. Junior Philippine Golf Tour returns to action on Tuesday at Pueblo de Oro Golf and Country Club.

The Davaoeño is gunning for a fourth consecutive victory after ruling the Mactan, Alta Vista and Del Monte stops of the nationwide jungolf series.

Soleil Molde also looks to sustain her charge after her Del Monte win in the girls’ side of the 7-10 age group.

Brittany Tamayo and Ken Guillermo, meanwhile, go for back-toback titles in the 11–14 division.

Tamayo faces a deep field that includes Rafella Batican, Claren Quino and a host of local bets, while Guillermo is up against Laurence Saban, Ralph Batican and Jared Saban.

The 15-18 class is also stacked, with Alexis Nailga chasing a third leg title and Zero Plete eyeing a follow-up to her Del Monte victory.

In the Luzon series, Race Manhit is off to a flyer at Sherwood Hills after skipping two legs, firing an impressive 71 with recently-fit equipment in tough conditions to set the pace in the boys’ 11-14 division of the ICTSI Sherwood Hills Junior PGT Championship in Trece Martires, Cavite.

The 12-year-old Manhit, eager to regain ground after a fourth-place finish at Malarayat, is pleased to get more distance control with his new clubs.

M anhit leads by four over Summit Point winner Vito Sarines.

Jose Luis Espinosa submitted a 76, John Hay champion Javie Bautista carded a 77 and Malarayat winner Chan Ahn shot a 79. I prepared a lot for this and stayed confident with every shot,” said Manhit, from Ateneo, who is looking to win after a recent equipment change.

G eorgina Handog is also off to a strong start, nailing three birdies in an opening 73 in the girls’ 11-14 class.

A erin Chan hit an eagle on the par4 No. 10 but wound up four strokes off the pace after a 77.

C ailey Gonzales, winner at Summit Point, carded a 78, as did Ronee Dungca and Kay Mauricio.

My putts were just dropping,” said the 11-year-old Handog, determined to reach the top after a joint third-place finish at Mount Malarayat.

I feel a little pressure, but I think I’ll do well as long as I don’t dwell on it.”

to fire a 71 and lead the 15-18 category.

The 17-year-old Padilla suffered an early bogey but cauthgt fire and made four birdies in the next 13 holes, enough cushion for two late bogeys.

Th ree strokes off was Malarayat champion Shinichi Suzuki, while Patrick Tambalque was three strokes further back after a 77.

David Serdenia shot a 79 and Geoffrey Tan came up with an 80.

L isa Sarines led the way in the girls’ 15-18 class with a 74.

R afa Anciano shot a 78, while Sarines’ twin sister carded a 79 and Levonne Talion submitted an 83.

W inter Serapio shot an impressive 71 for a nine shot lead in the girls’ 7-10 division over Summit Point tormentor Andrea Dee. J ehanne Mendoza shot an 81 for third.

Korean solos to victory in Pagudpud

By Josef Ramos

AGUDPUD, Ilocos

PNorte—Min Kyeong Ho of Seoul Cycling Team won the longest stage of the Metro Pacific Tollways (MPTC) Tour of Luzon, a 228.8-kilometer Stage Six road race from Tuguegarao City, with a solo breakaway finish at the provincial municipal hall on Monday. The 29-year-old South Korean and 2017 Tour of Korea titleholder made his move in the final 30 kilometers around Santa Praxedes to cross the finish line alone in five hours, 13 minutes and 12 seconds.

group that included Russian back-to-back stage winner Ivan Anisimov of Life Cycle Works (LCW) of UAE.

A nisimov, who had won the fourth and fifth stages from Palayan City, Nueva Ecija to Tuguegarao City, finished 1 minute and 17 seconds behind, along with Ronald Oranza of Standard Insurance Philippines and 14 other riders who recorded the same time as the Russian.

It’s so hot here, the hottest that I have experienced. Thankful to that tailwind in the last 10 kilometers, that saved me,” Min, the 2016 Asian Cycling Championships individual pursuit winner, added.

I can now aim for tomorrow’s race and hope to win the individual time trial, but let us see.”

R eigning champion Joo Dae Yeong of Gapyeong Cycling Team of South Korea placed 34th after Stage Six, 1 minute and 33 seconds behind, and sits 20th in the general classification, 3 minutes and 46 seconds off the pace.

Meanwhile, Go for Gold continues to lead the team general classification with an accumulated time of 77:13:38, while Standard Insurance Philippines moved up to second place, one minute and one second behind.

7-Eleven Road Bike Philippines dropped to third place, two minutes and 48 seconds behind. The race, supported by the MVP Group and the Philippine Amusement and Gaming Corp. and aligned with the National Sports Tourism Inter-Agency Committee, will remain in Pagudpud for three days. Stage 7 on Tuesday features a 22.9-kilometer individual time trial (ITT), followed by a rest day on Wednesday.

John Hay titlist Tristan Padilla shrugged off a sluggish start

“I never expected that to happen, it was not even my plan. I was aiming for tomorrow’s time trial, but the opportunity came as I saw others struggle on climb. So, I took it,” Min told reporters after Stage Six of the two-week race presented by the Philippine Sports Commission (PSC).

After attacking on the climb before entering Pagudpud, Min showcased his track background, strong bike handling, and explosive power to distance himself from a 16-man

DORAL, Florida—The only person who gave Cameron Young any trouble on Sunday was, well, Cameron Young. H e called a one-stroke penalty on himself while playing the par-4 second hole, after he caused his ball to move in the fairway. And then he made par anyway. It was that sort of week: Young was unflappable and unbeatable. He went wire-to-wire alone on the lead at the Cadillac Championship, a final round of 4-under 68 getting him to 19 under for the week and six shots clear of world No. 1 Scottie Scheffler (68).

“ When the golf course is difficult, when the conditions are difficult, that tends to make it easier for me mentally,” Young said.

W ith President Donald Trump in place to watch most of the round at Trump National Doral, Young picked up $3.6 million for the second-biggest payday of his career. He made $4.5 million earlier this year for winning The Players Championship.

Trump arrived with several members of his family—including granddaughter Kai Trump, who plans to play at the University of Miami

Russian Nikita Shulchenko, 16th overall after Stage Six, retained the yellow jersey with an aggregate time of 19:01:14 in the general classification, followed by LCW teammate Yousef Ibrahiem Alrefai of Syria, 49 seconds behind.

I just focused on guarding my hold of the general individual classification,” Shulchenko said. “It was my first longdistance race. It was really hot here, but we really prepared for this, drank lots of water and ice.”

G o for Gold’s Emmanuel Dave Montemayor remains third in the overall standings, two minutes and 13 seconds behind the leader.

when she enrolls later this year— shortly after noon and remained until the tournament was over. He stood for the ovation as Young walked up the 18th hole, as a number of fans in attendance were allowed to move into the fairway for a look at the final putts of the week.

A nd when it was over, Young got a thumbs-up from Trump, followed later by a quick handshake. It’s very unique. He’s nothing if not a very, very interesting man,” Young said. “He’s very powerful and it’s an honor to get to play in front of him.” AP

UP keeps streetdance title with superhero spectacle

UNIVERSITY of the Philippines retained the University Athletic Association of the Philippines title with a hero-themed performance on Sunday at the Blue Eagle Gym in Quezon City.

U P Streetdance Club featured Zsa Zsa Zaturnnah, Captain Barbell, Darna, Gagambino and Lastikman against Venom-inspired villains, gaining 93.33 points—46.90 for artistry and 46.70 for execution—on a performance with Parokya ni Edgar hits and music from films Darna and Captain Barbell. UST Prime finished second with a Chinese-inspired routine earning 92.17 points (46.30 artistry, 46.70 execution).

De La Salle University Dance Company’ love-themed performance set to Ben&Ben’s “Araw-Araw” got third place with 90.33 points.

The Company of Ateneo Dancers and Adamson University Dance Company-Street tied for fourth place with identical 89.83 scores. National University Dance Company was fifth (89.00) followed by Far Eastern University Street Alliance (87.83) and University of the East’s East Force Dance Company (79.67). I n the high school division, Adamson University Dance CompanyStreet captured its first UAAP streetdance title with a Mexicaninspired routine scoring 88.17 points (44.70 artistry, 44.00 execution). U ST Galvanize placed second at 86.83 points, performing to Michael Jackson hits. FEU-Diliman T.A.M. Streetz completed the podium with 85.50 points.

I ronically, one of the most iconic honors in sports history came in defeat. In 1969, West became the only player ever to win Finals MVP while on the losing team. That moment encapsulated his career: individually brilliant, collectively frustrated. It also cemented his reputation as a player whose impact transcended the scoreboard. I f his playing career left any sense of incompletion, West more than compensated in his post-playing life. As an executive, he demonstrated a rare ability to evaluate talent and build winning cultures. He played a central role in assembling the “Showtime” Lakers of the 1980s, identifying and acquiring key pieces that would define an era. Later, he was instrumental in bringing together the core of the Lakers’ early-2000s dynasty, including the acquisition of Kobe Bryant and the signing of Shaquille O’Neal. West’s influence extended beyond a single franchise. His tenure with the Memphis Grizzlies helped stabilize a struggling organization, while his advisory roles with the Golden State Warriors and Los Angeles Clippers showed his continued relevance in an evolving league. Few figures in sports history have successfully bridged eras the way West has from the black-and-white television days of the 1960s to the analytics-driven modern NBA. Perhaps the most enduring symbol of West’s legacy is one that is both ubiquitous and oddly impersonal: the NBA logo. Modeled after his silhouette, it captures the essence of his game which was balanced, poised, and in motion. And yet, West himself has often expressed discomfort with the recognition, reflecting his lifelong tendency toward humility and introspection. W hat ultimately defines Jerry West is not just achievement, but resilience. He confronted pressure, expectation, and personal doubt at a level few athletes experience, and he carried those experiences into a second act that may

IT wasn’t in the plan, but Min Kyeong Ho struck when the opportunity came. ROY DOMINGO

CAMERON YOUNG dominates with rounds of 64-67-70-68. AP

RACE MANHIT takes a four-shot lead at Sherwood Hills. JPGT PHOTO

THE UP dance club draws power from Zsa Zsa Zaturnnah, Captain Barbell, Darna, Gagambino and Lastikman. UAAP PHOTO