GLOBAL JITTERS IN FEB
By Cai U. Ordinario @caiordinario
Data from the Bangko Sentral ng Pilipinas (BSP) showed foreign direct investment (FDI) net inflows declined by 61.9 percent to $529 million in February 2025 from the $1.4 billion posted in February 2024. While the BSP said the decrease was “primarily attributed to base effects,” local economists believe the country’s lackluster performance in attracting investments is already a reflection of the uncertainty in the global economy. “FDI from the United States will be on hold while uncertainty over Trump’s tariffs and other policies lingers,” Former Socioeconomic Planning Secretary Dante B. Canlas told BusinessMirror “But if a new and stronger regionalism is forged among Asean; Japan, South Korea, and China; and the ANZ [Australia and New Zaland], FDI may be expected to flow from these countries,” he added. In November 2024, then Presidentelect Trump pledged big tariffs on the three largest trading partners of the US—Canada, Mexico and China. Trump, who took office last January 20, said he would impose a 25-percent tariff on imports from Canada and Mexico. He also announced plans to slap a
By Reine Juvierre S. Alberto @reine_alberto
THE Marcos administration will stay the course on pursuing its economic reform agenda, with GDP growth remaining as the government’s top priority.
Finance Secretary Ralph G. Recto told BusinessMirror on Monday that the administration remains committed to implementing the Philippine Development Plan, aimed at creating more jobs and reducing poverty, even if the midterm elections would introduce new dynamics in Congress.
“Having elections is essential to improving governance. Our credible, efficient and peaceful elections will only bolster investor confidence,” Recto said.
In this year’s midterm elections, the
country’s high-ranking officials, President Ferdinand R. Marcos Jr. and his now estranged vice president Sara Duterte, are supporting rival political aspirants.
Half, or 12 senators, of the 24-member Senate could determine the fate of Duterte, who is facing an impeachment trial for claiming that she hired someone to assassinate Marcos Jr., First Lady Liza Araneta-Marcos and House Speaker Martin Romualdez. BDO Capital & Investment Corp. President Eduardo Francisco told BusinessMirror that investors want to see a peaceful election. Marcos and Duterte were running mates under the UniTeam alliance in 2022, but their relationship soured after the release of the “Tambaloslos” video, which caused Duterte’s resignation as Education secretary and vice chair of the anti-communist task
All polling places functioned,” Comelec Chairman George Erwin Garcia said in Filipino at a press briefing at the
said the newly-leased
tomated counting machines (ACMs) are outperforming older units, with a significantly lower malfunction rate recorded on election day. Garcia reported that only 311 ACMs out of 110,000 units had to be replaced—far fewer than the 2,500 vote-counting machines (VCMs) that broke down during the 2022 polls.
“The machines weren’t even technically broken. We gave strict instructions: even if a machine rejects a ballot once or twice, we don’t take chances anymore—we remove and replace it immediately,” Garcia told reporters.
BREAKING BARRIERS, CASTING VOTES From
94,000 precincts nationwide. Mall voting
MEANWHILE , Comelec reported “smooth operations” at mall voting precincts—another first for the commission in a midterm election.
The poll body chief visited SM Manila and Robinsons Manila and said that while voter lines were long, the environment was more comfortable compared to traditional polling places.
“Inside the school, the air conditioning couldn’t handle the heat, even the [ACMs] was overheating. Because of this, they had to set up electric fans,” he said.
Over 42 malls nationwide participated in the mall voting initiative. This is the second time Comelec has implemented mall voting, first piloted during the 2023 barangay and Sangguniang Kabataan elections with 14 locations.
Garcia said the poll body aims to expand the program, especially for the benefit of vulnerable groups.
“We should definitely extend voting in malls—as long as the mall is not owned by politicians or anyone running for office,” he said.
Most malls in the country are privately owned, with Vista Mall, owned by the Villar family, being a notable exception tied to politics.
Comelec noted that as the number of voters grows, from 66 million in 2022 to 68 million in 2025, with a projected 70 million by 2028, schools and classrooms are not getting any bigger.
Mall precincts opened at 7:00 a.m. for both early and regular voters and will remain open until 7:00 p.m.
Comelec…
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The steep decline in defective units signals an improvement in the overall performance of the country’s election infrastructure, he said.
Of the 311 ACMs replaced, 77 had faulty scanners. Others had issues involving their thermal printers (73), thermal cutters (60), and thermal paper (35). Some problems stemmed from damaged machine covers (13), malfunctioning screens (11), unreadable smartcards (12), and even USB errors (10). A handful of machines also encountered manual audit errors, ballot-relat-
ed glitches, and procedural concerns.
Garcia added that one of the most critical challenges in this election cycle was the extreme heat—but no battery failed while machines were running, proving that the lithium-ion batteries could last up to three days.
This year, Comelec deployed 94,000 ACMs to voting centers nationwide. Another 16,000 machines were kept in reserve to ensure uninterrupted operations in case of technical failures. The units were procured from South Korean-based firm Miru Systems Inc.
Several watchdogs previously flagged Comelec’s deal with Miru, citing its past involvement in controversial elections in the Democratic Republic of Congo and Iraq. But Garcia dismissed the alle-
of the headquarters of a mayoral candidate in Silay City, Negros Occidental, killing at least three persons.
In Datu Odin Sinsuat, Maguindanao del Norte, Namfrel confirmed the delay in distribution of election materials.
has been building up the past few days.
Before election day, Abra PPO Provincial Director PCol. Froiland Lopez said four electoral boards in Tineg town had to be replaced and police personnel were deployed to replace them.
At least three killings of Tineg residents were recorded during the campaign.
Namfrel concerned THE National Movement for Free elections (Namfrel) expressed “concern over incidents of violence and disturbance that marred today’s polls in certain areas of the country.”
At a press briefing, Namfrel chairperson Angel Averia Jr. said they verified that a shooting took place in front
Datu Odin Sinsuat was placed under Comelec following the killing of the local election officer and her husband.
Likewise, several violent incidents were verified by Namfrel in Lanao del Sur, which include the killing of a male person after being suspected of vote buying; the killing of a candidate for councilor and the brother of a barangay chairman in Bayang municipality; and a mob attack on six vans carrying alleged flying voters in Marantao which injured several individuals.
Citing reports received and verified by Namfrel volunteers in the area, the watchdog said a shooting incident took place in front of the headquarters of a mayoral candidate in Silay
gations as “baseless” and said they were designed to tarnish Miru’s reputation.
He said Miru had already been cleared by electoral commissions abroad, and that the Senate and House hearings had found no substantial evidence of irregularity or security risks.
In the same briefing, Garcia addressed social media complaints alleging that receipts printed by ACMs did not match voters’ actual selections.
“There’s a high chance that they simply forgot who they voted for. They can’t prove their claim because they don’t have a photo of the receipt,” he said. Comelec is also investigating
City, Negros Occidental. The incident reportedly involved six people, with bystanders and media reports alleging two or three fatalities. Media reports said the incident was perpetrated by supporters of a former mayor, while the victims are supporters of the incumbent mayor.
Namfrel also verified multiple incidents in Lanao del Sur:
1. In Maguing town, an unknown male reportedly from Pikit, Maguindanao was killed after being suspected of vote buying.
2. In Bayang municipality, two persons were killed: a candidate for councilor and the brother of a barangay chairman.
3. In Marantao, a mob reportedly attacked six vans carrying flying voters, resulting in injuries and damage to vehicles.
4. In another barangay in Marantao, suspected flying voters got injured after being mobbed by a crowd.
5. In Sagonsongan, Marawi City, two watchers from opposing parties had an altercation, resulting in water being thrown at the ACM.
Western Mindanao
MEANWHILE , the May 12 midterm elections in Western Mindanao are “generally peaceful” so far, the police commander responsible for the area said on Monday.
The PNP Western Mindanao Area Police Command and Special Task Force BARMM chief Lt. Gen. Bernard Banac expressed confi-
several unverified claims of overvoting due to smudged ink on the ballots.
Garcia dismissed most of these as “false information” and said social media was being “abused” to spread confusion.
The poll body has repeatedly explained that over-voting is not possible because the list of candidates is not aligned frontto-back—meaning ink smudges cannot accidentally mark names on the reverse side of the ballot.
For this year’s polls, ballots were printed on locally sourced 100 gsm paper, lighter than the 160 gsm paper used in 2022, which had to be imported. See “Comelec,” A3
dence that peace will continue to hold in his area of jurisdiction. Banac’s area includes the Bangsamoro Autonomous Region in Muslim Mindanao, Basulta (or Basilan, Sulu, and Tawi-Tawi); Soccsksargen (South Cotabato, Sultan Kudarat, Sarangani, and General Santos City) and the Zamboanga Peninsula. He added that Monday’s elections were “generally peaceful across the islands, with people going out and casting their votes throughout the day except for some isolated shooting incidents.”
These were reports that four persons died in Basilan due to gunfire between two separate groups; in Lanao Del Sur, two died due to a gun attack; and Cotabato City, where one PNP personnel was wounded by indiscriminate firing.
“Investigations are ongoing. Likewise, minor incidents including commotions, rock throwing, and fistfights between and among poll watchers and supporters were reported,” Banac said. Banac commended all PNP Western Mindanao units of Brig. Gen. Roel Rodolfo, PRO-9; Brig. Gen. Romeo Macapaz, PROBARMM; Brig.Gen. Arnold Ardiente, PRO-12; the 3,684 man PNP contingent from 14 PROs and Maritime Group that composed the Special Electoral Board; together with partner AFP and Philippine Coast Guard (PCG) units in the area, for the excellent performance and effective security coverage. With reports from Mauricio Victa
ever, he did not outline specific tax reform proposals docked in Congress that are likely to advance this year.
“We continuously assess our tax laws— both policy and execution,” Recto said.
force in June 2024.
The rift deepened following the arrest of her father, former President Rodrigo Duterte, in March by the International Criminal Police Organization with the government’s cooperation.
“The key is to maintain a balance to keep the administration’s projects going and support measures to maintain the Philippine Development Plan. Not having the right mix could derail our path to progress,” Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., told BusinessMirror
While government spending is still robust and inflation is cooling, Ravelas said the country’s GDP is “disappointing.”
“Uncertainty from tariffs and elections keeps investors sidelined,” Ravelas told this newspaper.
Projections for the Philippines’s economic growth were downgraded by multilateral organizations, banks and units of credit rating agencies—with the slowest at only 5 percent by ANZ Research—due to the impact of the US tariffs.
Despite all these, the Finance chief said that once Congress resumes session on June 2, it will prioritize the economy, which expanded at a slower-than-expected 5.4 percent in the first quarter.
By growing the economy, Recto said this would also raise government revenues. How-
The Department of Finance (DOF) is pushing for the passage of excise tax on single-use plastics and the Government Revenues Optimization through Wealth Tax Harmonization (Growth) bill, as well as enhancing the fiscal regime for the mining industry.
The government aims to collect P4.644 trillion in revenues this year, and has raised P998.2 billion as of the first quarter.
The Finance chief recently withdrew its proposal to Congress in considering the Growth bill, which seeks to increase several wealth tax rates and provide the government with fiscal space in the worst-case scenario.
The bill could have generated P300 billion in additional revenues from 2025 to 2030 by harmonizing the current tax rates for capital gains, donors’ and estate taxes to a unified 10 percent.
When asked if the Philippines will hit the government growth target of 6 to 8 percent this year, Recto told this newspaper: “I am optimistic we will continue to grow better than our neighbors and thereby provide more jobs and opportunities to Filipinos.”
The Cabinet-level Development Budget and Coordination Committee (DBCC), of which the DOF is a member, has set the growth target at 6 to 8 percent this year until 2028.
The DBCC is scheduled to meet this May to review its macroeconomic assumptions and targets against the backdrop of mounting global economic uncertainties.
FDI…
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10 percent tariff on China, according to a Reuters report.
Ateneo de Manila University economist Leonardo Lanzona Jr. said the slide in FDIs mirrors the uncertainties in the domestic economy. Lanzona said there is “growing uncertainty” over the country’s higher debt-to-GDP ratios, which has climbed to 62 percent in the first quarter of the year. (See: https://businessmirror. com.ph/2025/05/09/debt-to-gdpratio-rises-to-62-in-q1/)
He also noted the wider budget deficit which was recently reported to have increased by 75.62 percent. (See: https://businessmirror.com. ph/2025/05/01/q1-budget-gap-up75-6-on-expenditures-spike/)
“The growing uncertainties resulting from higher debt to GDP ratios and the rising budget deficits along with limited effort to raise government taxes are key factors reducing FDIs,” Lanzona told BusinessMirror
Aggressive policies TO attract more FDIs, Lanzona said the government should be more “proactive” by building a solid case that would convince foreign investors that the Philippines is the investment destination for them.
This means, Lanzona said, the country should build domestic industries that have the potential to compete globally. This would entail government investment in facilities and services that would enable local industries that have export potential and high value added to increase production.
The economist said it would also be to the advantage of these local industries to link to micro-, small-, and medium-sized enterprises (MSMEs) across regions to expand their production.
He said foreign companies or investors should be brought in to give these companies access to the global value chain. These foreign firms should transfer modern technologies to local industries.
“We need to first show that we have strong potential for global competitiveness to attract foreign investments. Our current policy has been to attract foreign investors and expect them to create industries to prosper,” Lanzona told BusinessMirror “It should be the other way around. Build the domestic industries and identify first key sectors that can potentially compete. Only after this can one attract foreign investors,” he added.
Govt data DATA from the BSP showed the decline in FDIs was largely due to the 85.9 percent contraction in nonresidents’ net investments in equity capital (other than reinvestment of earnings) to $108 million from $764 million in February 2024.
Further, BSP said nonresidents’ net investments in debt instruments and their reinvestment of earnings declined by 35.4 percent to $348 million from $540 million and 13.1 percent to $73 million from $84 million, respectively.
The year-to-date FDI net inflows amounted to $1.3 billion, a 45.2 percent contraction from the $2.3 billion net inflows recorded in January-February 2024.
The data also showed that the bulk of the equity capital placements in February 2025 came from Japan, the United States, Ireland, and Malaysia.
“These investments were largely directed towards the manufacturing, financial and insurance, real estate, and information and communication industries,” BSP said.
BSP FDI statistics are different from the investment data of other government sources. BSP FDI covers actual investment inflows.
In contrast, the approved foreign investments data published by the Philippine Statistics Authority are sourced from investment promotion agencies.
Marcos, Imelda, Irene vote in Batac; Imee in Laoag
By Jovee Marie N. dela Cruz @joveemarie
PRESIDENT Marcos, alongside key government officials and political figures, joined 68.6 million Filipinos registered voters in casting his ballot for the 2025 midterm elections.
Marcos casted his ballot at the Mariano Marcos Memorial Elementary School in Batac City, Ilocos Norte. The President was accompanied by his mother, former First Lady Imelda Marcos, and his sister Irene Marcos-Araneta. Just like any other registered voter, the President patiently lined up, received his ballot from an election officer, and completed voting in just about a minute.
The President said the midterm elections are both a right and a duty of every Filipino citizen and an opportunity for every voice to be heard and for aspirations for a better nation.
Also present in Batac was Ilocos Norte Rep. Sandro Marcos. The President later took to social media to urge Filipinos to vote responsibly, emphasizing that the elections are both a right and a civic duty.
House members
SPEAKER Ferdinand Martin G. Romualdez on Monday voted in his home city of Tacloban, rallying Filipinos to defend democracy by electing leaders committed to genuine service and national progress.
“Every vote is a declaration of hope. It’s a stand for good governance, unity, and a better Philippines,” said Romualdez, Lakas-Christian Muslim Democrats (CMD) president, after he voted at Dela Cruz Memorial Elementary School.
“I urge every Filipino to vote with conviction and with the future in mind,” Romualdez said. Romualdez is running unopposed for
another term in Congress, where he has served five terms since 2007. His imminent re-election will mark his continued commitment to the welfare of his constituents in the district where his public service began.
He underscored the importance of the 2025 midterm elections in determining the trajectory of the Bagong Pilipinas agenda of President Marcos.
“These elections are about continuity and change—continuity of the reforms we’ve started and change that uplifts every Filipino family,” Romualdez said.
During the campaign, he rallied the people of Eastern Visayas to support the senatorial slate of the administration’s Alyansa Para sa Bagong Pilipinas senatorial slate, emphasizing their role as the President’s chosen partners for the realization of his Agenda for Prosperity.
As House chief, he has shepherded landmark legislation to modernize agriculture, expand access to education and health services, protect national sovereignty, and fight corruption and disinformation.
Romualdez said the coming years
are crucial for sustaining the country’s economic recovery and strengthening institutions, especially as the Philippines faces global and regional security threats.
Tingog Reps. Jude Acidre and Yedda Romualdez also cast their votes early in Leyte. Acidre highlighted the power of every vote in shaping the country’s future, while Romualdez, joined by her sons Andrew and Marty, called on the youth and first-time voters to participate actively in the democratic process. Marty Romualdez is seeking a seat on the Tacloban City Council.
Other lawmakers and public figures, likewise, made their presence felt at polling precincts nationwide. Albay Rep. Joey Salceda voted in Daraga, while Pampanga Rep. Gloria Macapagal Arroyo, along with her husband, casted their votes in Lubao, Pampanga.
Rep. Marissa Magsino of the party-list group OFW voted in Parañaque, BHW Rep. Angelica Natasha Co lined up early in Legazpi City, and Ako Bicol Rep. Elizaldy Co voted at Gogon Central School in barangay Gogon, Legazpi City, Albay.
PTFOM, PNP start probe on media harassments, attacks
THE Presidential Task Force on Media Security (PTFOMS) on Monday expressed deep concern over a series of harassment and intimidation incidents targeting journalists covering the 2025 midterm elections.
PTFOMS Executive Director Jose Torres Jr. said such acts undermine press freedom and the essential role of the media in a democratic society.
“We do not tolerate attacks on media professionals who are performing their duties as responsible citizens during the elections. We will vigorously pursue cases against those found to be endangering the lives of journalists.”
PTFOMS, in coordination with the National Police’s (PNP) Media Security Vanguards, is currently investigating the reported incidents. Torres emphasized that the agency will act swiftly and in partnership with media organizations to ensure accountability.
He also encouraged journalists and concerned citizens to immediately report any threats or attacks. “Document everything and report promptly,”Torres urged. Media workers can submit reports through the PTFOMS Incident Report Form or via the QR code available on the PTFOMS Facebook page. Recent incidents include the attack on the vehicle of the former president of the
Militant bloc in Congress
MEMBERS of the Makabayan bloc in the House of Representatives on Monday called on the Commission on Elections (Comelec) to implement manual ballot counting nationwide owing to “alarming concerns” over the credibility of the automated election system (AES).
Gabriela Rep. Arlene Brosas and former Bayan Muna lawmakers Neri Colmenares and Carlos Isagani Zarate raised flagged the Comelec’s use of version 3.5 of the automated counting machine (ACM) software during the final testing and sealing (FTS),
Continued from A1
Ballot misprints, vote extensions BEYOND machine issues, the Comelec also disclosed that the National Printing Office had to reprint ballots for 15 precincts nationwide due to missing or blurry timing marks.
These invisible marks are used to authenticate ballots fed into ACMs. Garcia said the absence of clear timing marks caused the machines to reject ballots, prompting an extension of voting hours in the affected precincts. He said “the timing marks were faint compared to other ballots.”
Comelec officials are still investigating how the defective ballots passed through both machine and manual verification before being distributed.
Cagayan de Oro Press Club in Sagay, Camiguin on May 10, which is currently under police investigation. On the same day, a news crew from TV 48 and radio dwNE in Nueva Ecija reported being threatened with a slingshot by a member of the Barangay Peacekeeping Action Team, with further aggressive actions from the Barangay chairman.
In Quezon City, radio reporter Rambo Labay faced intimidation from a group of men while covering vote-buying allegations.
These cases have already been reported to law enforcement and are under formal review by PTFOMS for possible legal proceedings.
As of Election Day, PTFOMS has docu -
asks Comelec to do manual counting
instead of the certified version 3.4, which had undergone local source code review and third-party evaluation.
“The sudden use of a new software version that hasn’t been fully explained to the public is a serious threat to the integrity of the elections,” said Brosas. She further questioned whether the updated software maintained the same hash code—a digital fingerprint that ensures no unauthorized changes were made—adding that any unverified alterations could be exploited for electoral fraud.
Aside from this incident, the Comelec also confirmed that some ballots were incompletely printed—specifically missing the list of party-list groups at the back.
“With 68 million ballots to print, these things sometimes happen. There have even been cases where ballots were delivered to the wrong province,” Garcia added.
No failure of elections, only extended voting hours
GARCIA clarified, meanwhile, what constitutes a failure of elections under Philippine law: “It only qualifies if, first, not a single piece of election equipment arrived—meaning voters had nothing to use. Or second, none of the teachers showed up to serve as electoral board members, which results in a total failure to elect,” he added.
Under the Omnibus Election Code, failure of elections can be declared if voting is disrupted by force majeure, violence,
In Bulacan, Cibac Rep. Eddie Villanueva, Sen. Joel Villanueva, and Bocaue Mayor Jonjon Villanueva casted their votes together. Meanwhile, in Camarines Sur, Rep. Luis Raymund Villafuerte and his son, Gov. Luigi Villafuerte, arrived at the precinct with actress Yassi Pressman, who also voted.
Former senator Leila de Lima, now the first nominee of the Mamamayang Liberal (ML) party-list group, voted in Parañaque City.
Alyansa
SENATORIAL aspirants and administrationaligned Alyansa Para sa Bagong Pilipinas candidates were likewise seen voting in different parts of the country.
Former Senate President Tito Sotto, alongside wife Helen Gamboa and family members, voted in Quezon City. Senatorial candidate Erwin Tulfo cast his vote at Kamuning Elementary School, while Sen. Ramon Revilla voted in Bacoor, Cavite. Sen. Lito Lapid was among the earliest voters, arriving at Porac Elementary School in Pampanga before dawn.
Sen. Panfilo Lacson voted in Imus, Cavite at 6:36 a.m., and boxing legend Manny Pacquiao returned to Sarangani to cast his vote in his hometown.
In Makati, Mayor Abby Binay exercised her right to vote, while Sen. Pia Cayetano did so in Taguig and Deputy Speaker Camille Villar in Las Piñas.
In Laoag City, Sen. Imee Marcos was joined by her sons, Gov. Matthew Marcos Manotoc, Borgy, and Michael, as she cast her vote for reelection.
According to the Commission on Elections (Comelec), more than 68.6 million Filipinos are registered to vote in this year’s midterm polls, with 18,280 national and local posts—including 12 Senate seats and thousands of municipal, provincial, and congressional positions—up for grabs. Jovee Marie N. Dela Cruz
mented three incidents of possible electionrelated media harassment, underscoring the continued risks faced by journalists during electoral cycles.
On April 23, Romeo Gonzales, a dzRH provincial news correspondent, filed a complaint with the PNP in Baguio City, alleging threats from the mayor of La Paz, Abra, a congressional candidate, after Gonzales reported on a shooting incident.
Torres noted that such threats are not new, as journalists in the Philippines have long encountered intimidation and violence during election periods. These realities, he said, reinforce the urgent need for stronger protection protocols and accountability measures to defend press freedom.
Jovee Marie N. Dela Cruz
Former lawmakers Colmenares and Zarate echoed the call for transparency and immediate corrective measures.
Brosas also underscored the commission’s failure to confirm whether the hash codes between the certified and updated versions remain identical.
She said the concerns were amplified by reports of machine malfunctions on election day. In Marikina, a machine temporarily failed to read ballots, and in Taguig, another voter experienced ballot rejection due to what poll watchers described as overly shaded marks. Brosas said such glitches “are not mere technical errors but potential violations of a voter’s right to suffrage.”
terrorism, fraud, or other serious causes, and the disruption must have a direct effect on the election outcome.
He explained that some precincts extended voting past the 7pm cutoff, not due to major issues, but because voters still within 30 meters of the polling place by closing time must be allowed to vote, per election rules.
Voting officially ran from 7am to 7pm, while vulnerable voters, such as senior citizens, persons with disabilities, and pregnant women, were allowed to vote starting as early as 5am under the newly introduced early voting scheme.
As of 7:30pm, the Comelec had received 32,108 election returns (ERs) from local precincts out of the 93,387 expected, leaving 61,279 ERs still to be transmitted. In the overseas polls, 7 ERs had been received out of 242, with 235 returns still outstanding.
Sara: Let’s take a rest, let’s stop mudslinging
By Manuel T. Cayon @awimailbox
DAVAO CITY—After the elections, let’s all take a rest.
This was the advice of Vice President
Sara Duterte, moments after she casted her vote at the Daniel R. Aguinaldo National High School here.
“Because the campaign is over, the election is over, we need to rest, we have to go back to our designated jobs,” she said.
Duterte said the political attacks and bickerings, the mudslinging were normal during the campaign, “but we don’t have to dwell on that forever.”
“After the election, these have to stop, and we have to get back to work,” she added.
She said she will accept the will of the voters if they will vote or not for the candidates of her favored slate, the Partido ng Demokratikong Pilipino (PDP)-Laban. “If they will not win, let’s accept the will of the electorate.”
She said she herself will go to The Hague, the Netherlands to celebrate her
47th birth anniversary on May 31 to make her wish a reality to have her family gathering complete, with her mother, Elizabeth Zimmerman and the former President in the detention facility in The Hague. She also plans to hold a forum or discussion with the Filipino community in the the Netherlands.
On the PDP-Laban, she said it will be up to the the party to determine who among Las Piñas Rep. Camille Villar, Sen. Imee Marcos, retired Marine colonel Ariel Querubin and former senator Gregorio Honasan would complete the 12-person slate. The PDP-Laban has ten senatorial candidates. Meanwhile, she said the former President was unable to cast his vote because absentee voting had been closed before he could apply to avail of it. But the vice president confirmed that her father’s mayoral candidacy remained valid and legal. The former President’s rival in his mayoral bid is former Civil Service Commissioner Karlo Nograles.
Random manual audit begins 2 days after polls–Comelec
By Bless Aubrey Ogerio
Zarate warned that the shift to an uncertified software version undermines the sanctity of the election process.
“The only acceptable software is one that has passed independent certification. Unexplained updates risk disenfranchising millions of voters,” he said.
“The discrepancy in hash codes between these versions suggests that the software may have been altered without proper transparency, opening the door to potential fraud and voter disenfranchisement.”
Jovee Marie N. dela Cruz
Fewer technical issues
COMELEC spokesperson John Rex Laudiangco attributed the drastically reduced technical issues to their decision to replace their worn-down Vote Counting Machines (VCM), which Comelec procured from Smartmatic with the new Automated Counting Machines (ACM) from the South Korean firm Miru Systems Ltd.
The poll official noted their new policy to replace defective machines if its repair will take over 60 minutes.
Comelec only pulled out 298 voting machines in the recent polls compared to almost 1,000 in the 2022 elections.
“We are not taking the 298 [replaced machines] lightly, but we are just saying that we are sure that the strategy of always getting new [voting machines] is right and maybe the strategy of always having a reserve [machines] was also right,” Laudiangco said.
THE Commission on Elections (Comelec) is set to kick off a random manual audit of votes from 762 precincts across the country and one online voting from overseas starting May 14, just two days after the midterm elections.
The audit will take place at Citadines Bay City Manila in Pasay, with the Comelec eyeing to wrap it up in about 45 days.
Random Manual Auditing (RMA) is a post-election check to verify the accuracy of automated results by manually counting ballots and comparing them to machine tallies. On Monday, May 12, Comelec held an electronic raffle at the Manila Hotel’s Tent City to randomly select the participating precincts and the overseas post. Comelec Resolution 11089 provides that the number of precincts to be audited in each legislative district will depend on how many clustered precincts it has,
Namfrel report
MEANWHILE , Namfrel’s Lito Averia said the group received reports about malfunctioning VCMs in a number of polling precincts across the country.
Among the problems encountered by some VCMs were jamming of voter-verified paper audit trail, ballots not being accepted at first try but accepted at second try, and ballots not being accepted because scanners were not clean.
Averia, however, said they have yet to confirm reports circulating in social media about discrepancies between voters’ choices and Voter Verifiable Paper Audit Trail or voter’s receipts from ACMs.
He said such reports, if confirmed, cannot be considered a mere malfunction of the ACM but could be a software-related issue.
The Namfrel spokesperson said digital forensics should be tapped to look into these claims.
See “Audit,” A4
Meanwhile, Namfrel also raised concerns on ballot secrecy after its volunteers observed electoral board members were the ones folding the VVPATs and depositing them to the receptacle instead of the voter. It added that ballot secrecy folders were also not used and that voters could see other voter’s votes on the ballots.
Namfrel said it continues to receive reports about ACMs not performing as expected, observed in a number of polling places across the country. Namfrel notes that most of the reported incidents involving the ACMs were immediately resolved. Some of these reports include:
n Voter-verified paper audit trail paper jam;
n Ballots not being accepted at first try but accepted at second; and n Ballots not being accepted because scanners were not clean.
Partial and unofficial results, as of 8:40 pm May 12.
A4 Tuesday, May 13, 2025
Nickel intl price drop worries producers
GBy Ada Pelonia @adapelonia
its latest report.
LOBAL nickel quota -
tions slumped to around $15,500 per metric ton (MT) in the first quarter, the lowest level since 2020, which could cut into the margins of the base metal’s local exporters.
The World Bank attributed the decline in nickel prices to booming output and a recent surge in London Metal Exchange warehouse stocks.
Indonesia’s expanding nickel production mainly catapulted the surge in global output of the base metal, bolstered by China-backed smelter investments and government incentives, it added.
“The global glut has driven prices down 35 percent over the past two years, leading to production cuts in other economies,” the international organization said in
Despite this, the World Bank expects nickel production to ease, owing to cuts in nickel mining quotas of the Southeast Asian nation, which makes up over half of the global output, as part of efforts to boost the slump in prices.
“However, global production growth is expected to slow gradually over the forecast horizon, as Indonesia—now accounting for about 60 percent of global production—introduces mining quotas to stabilize prices.”
In addition, the organization projects weakening demand for the base metal, showin the slowdown in demand from the electric vehicle (EV) battery market, which would only be partially buoyed by “modest growth” in stainless steel output.
“Global nickel demand growth is also expected to moderate,
reflecting decelerating demand from the EV battery market, only partially offset by modest growth in stainless steel production.”
With this, the World Bank projects nickel prices to fall by 6 percent this year at $15,800 per MT before inching up 1 percent or $16,000 per MT in 2026, “as the demand-supply balance starts to tighten.” Its average price stood at $16,814 per MT last year.
Export ban
EARLIER, sources noted that while the Philippines’ plan to ban nickel ore exports could trigger a global supply squeeze and raise prices, it could also result in lower earnings for exporters.
This, after lawmakers have chalked out a plan to ban raw mineral exports to spur the development of local downstream industries and enable the Philippines to produce higher-value exports,
Group urges govt to review SUF system
CBy Rizal Raoul Reyes @brownindio
ONSUMER advocacy group
CitizenWatch Philippines is urging the government to overhaul the country’s Spectrum User Fee (SUF) system, stressing that the current structure is hindering the growth of digital infrastructure and threatening to leave millions of Filipinos disconnected.
According to the independent network, SUFs impose substantial annual costs on telecommunications providers based on the frequency bandwidth they are assigned. These are calculated based on the size and type of spectrum assigned to telcos, with higher fees incurred for wider bandwidths and more commercially valuable frequency bands.
In a statement, CitizenWatch underscored the country’s widening digital infrastructure gap, noting that internet penetration—which is the percentage of a population that has access to and uses the internet—in the Philippines remains significantly lower than that of its regional counterparts.
“As more Filipinos use mobile data for work, education, and digital transactions, telecom firms
must acquire more spectrum to ensure service quality—but doing so automatically triggers higher SUF payments,” CitizenWatch co-convener Orlando Oxales said.
“The system may have been relevant before, but now, it has become a barrier as it discourages investments and penalizes growth at a time when expansion is most needed,” he added. Oxales warned that the government’s target of achieving nationwide internet access will not be achieved unless structural barriers—such as the existing SUF regime—are addressed.
Under the current system, telecommunications companies are charged annual fees based on the amount and type of spectrum they are assigned. While the policy is meant to regulate spectrum allocation, CitizenWatch argued that the escalating costs are disproportionately burdensome, particularly as demand for mobile data continues to increase.
From 2018 to 2022, SUF collections reached P26.9 billion, peaking at P6.7 billion in 2022. CitizenWatch warned that this fee model discourages innovation and slows progress toward nationwide connectivity goals.
The group also pointed out the
imbalance between public and private sector spending on digital infrastructure.
According to the group, telecommunications giants Globe Telecom and PLDT have collectively invested over P761 billion in capital and operational expenditures in recent years to drive broadband network expansion and fiber rollout.
Meantime, the government’s digital infrastructure budget through the Department of Information and Communications Technology (DICT) totaled just P7.6 billion over a six-year span, which is far short of the P240 billion needed to meet digitalization targets recommended by the Private Sector Advisory Council (Psac).
CitizenWatch said the Philippines needs to step up in investing in infrastructure programs to keep pace with neighboring countries such as Vietnam and Indonesia, both of which have prioritized broadband expansion to remote areas.
“These countries understand what the Philippines must also embrace: digital infrastructure is not merely a commercial concern—it is a strategic national asset,” Oxales emphasized.
which will create more jobs.
Senate President Francis Escudero introduced the provision amending Senate Bill 2826, which will take effect after five years if signed into law.
Dan Smith, head of research at Amalgamated Metal Trading Ltd., had told the BusinessMirror the country will be put at a disadvantage if the bid to ban the raw mineral’s exports materializes. The Philippines is one of the world’s major nickel ore producers.
“The proposed ban on nickel ore exports could help to tighten the global market, but [the Philippines] would lose out due to lower export revenues,” Smith said.
Data from the Philippine Statistics Authority (PSA) showed that the value of nickel ore and concentrate exports reached $1.04 billion in 2024, 3.3 percent lower than the $1.08 billion in the previous year.
Incentivize investments
TO address these challenges, CitizenWatch called for the rationalization of SUFs to reflect their intended regulatory purpose of managing spectrum efficiently rather than serving as a revenuegenerating mechanism.
The group proposed lowering the fees to encourage telecommunications providers to invest in underserved and unserved areas.
“Lowering SUFs will unlock more capital for telcos to invest in new cell sites, backbone upgrades, and last-mile connectivity, accelerating the nation’s transition to a fully digital economy,” Oxales stressed.
“These infrastructure investments directly translate to greater digital access for more Filipinos— especially critical at a time when the digital economy is rapidly growing and expanding opportunities across sectors,” he added.
CitizenWatch said that pairing SUF reforms with increased public investment and streamlined permitting under Executive Order No. 32 would demonstrate a “wholeof-nation” approach to closing the digital divide.
“If we are serious about inclusive growth, digital empowerment, and long-term competitiveness, we must stop taxing connectivity and instead incentivize more investments for it.”
PSA reports sharp drop in rice prices
RICE prices were lower in April, based on the latest data from the Philippine Statistics Authority (PSA).
Figures from the PSA indicate that the average wholesale quotation of regular milled rice dropped by 18.7 percent to P38.27 per kilo last month from P47.09 per kilo a year ago.
The fastest decline in regular milled rice was recorded in Central Visayas, where the price of the staple shrank by 35.9 percent to P33.92 per kilo from P52.94 per kilo in April 2024.
This was followed by Soccsksargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos), where prices shrank by 26.2 percent last month to P35.04 per kilo from P47.46 per kilo in the previous year.
The slowest decline was recorded in the National Capital Region (NCR) where prices dipped by 4.1 percent to P44.67 per kilo in April from P46.56 per kilo in the same period last year.
Based on PSA data, the average price in April was also 4 percent lower than the P39.86 per kilo recorded in March.
Meanwhile, the PSA said
OIL companies announced a price rollback in petroleum products on election day.
Gasoline prices will be reduced by P0.30 per liter, diesel by P0.30 per liter, and kerosene by P1.25 per liter. These will take effect at 6:00 a.m. of May 13, they said in separate advisories.
Seaoil, Shell, Caltex, Total, Unioil, PTT, Petron announced the price reduction.
Other oil firms will follow suit.
Moreover, Seaoil is implementing further discounts to voters. Gasoline price will be reduced by P4 per liter and P2 per liter for diesel.
This is the second straight week of downward price adjustments.
On May 6, oil companies implemented a
well-milled rice also dropped by 14.9 percent to P43 per kilo in April from P50.50 per kilo a year ago.
The fastest decrease was registered in Soccsksargen, where prices of the food staple shrank by 26.2 percent to P37.20 per kilo in April from P50.38 per kilo in the previous year.
Western Visayas also trailed behind as prices contracted by 19 percent last month to P41.67 per kilo from P51.45 per kilo in April 2024.
Northern Mindanao registered the slowest decline as prices dipped by 2.4 percent to P45.86 per kilo last month from P46.99 per kilo in the previous year. The average price of well-milled rice was also 3.3 percent lower than the P44.46 per kilo registered in March.
“Wholesale price refers to the price of commodity transacted in bulk for further resale or processing,” the PSA said.
“It is the actual ‘spot’ transaction price received usually by the wholesalers, distributors or marketing agents for large lots but net of discounts, allowances, and rebates.” Ada Pelonia
Oil companies reduce pump prices
price decrease of P0.55 per liter for gasoline, P0.65 per liter for diesel and P0.90 per liter for kerosene. This brought the year-to-date increase for gasoline at P3.10 per liter; diesel at P3 per liter. Kerosene has a total net decrease of P2 per liter. Oil companies adjust prices to reflect movements in the world oil market. The Department of Energy (DOE) said there was uncertainty over the outcome of trade talks between US and China, the world’s two largest oil consumers. Also, the Organization of Petroleum Exporting Countries’s (OPEC) decision to increase June oil production levels combined with global tariff uncertainty has raised concerns about a possible supply gut. Lenie Lectura
The audit is a requirement under Republic Act 9369, which mandates that at least one precinct per congressional district be manually reviewed.
Should inconsistencies arise between manual and automated results, Comelec will investigate further and may order a full manual recount in affected areas.
The poll body said it remains confident in the process, noting that past RMAs have shown a 99.9-percent match with automated results since the country began using vote-counting machines in 2010.
The RMA committee, composed of Comelec staff, civil society groups, the Philippine Statistics Authority and the Department of Education, was officially launched on April 21. (See: https:// businessmirror.com.ph/2025/04/21/ comelec-to-audit-up-to-762-clusteredprecincts-after-midterm-polls/). With reports from Justine Xyrah Garcia
We are all born with DIGNITY–It begins with you and me!
By Henry J. Schumacher
SOME months ago, I wrote about the interesting subject: Are we born smart or do we learn to be smart? The answer: People aren’t born smart. People learn how to work with what they’ve got and become smart as a result.
Today, I am attracted by the fact that everyone is born with dignity. It is our inherent value. Dignity is an inextricable part of what it means to be a human being. There is so much that divides us: ethnicities, religions, skin color, gender, politics, borders, and status. But dignity is the great equalizer. It cuts through all divisions and unites us around our shared humanity.
Dignity starts with recognizing our own inherent worth and the fundamental value of others. Recognizing everyone’s dignity impacts the way we treat ourselves and others and motivates us to build cultures of dignity in our organizations, workplaces, and communities. At the highest level, the principles of dignity would create new politics and
ESSENTIAL ELEMENTS OF DIGNITY:
When we honor someone’s dignity, WE:
1. Accept their identity and give them the freedom to express their authentic selves without fear of being negatively judged.
economic systems and, ultimately, societies and nations that are more just, open, and peaceful. Hopefully Trump, Putin, XI, and many other world leaders will read this. Pope Leo, who was elected a few days ago, said at his first official meeting: “Peace be with you”!!!
To truly transform ourselves and our communities, it’s important that the principles of dignity be manifested in some areas. It starts with recognizing our own inherent dignity. Then, it’s critical that we also acknowledge the fundamental value of others—and that our individual humanity is bound up in the humanity of all people.
Let’s have a look at THE TEN
2. Recognize their unique qualities, talents and ways of life, and give them credit for their contributions, ideas and experience.
3. Acknowledge them and make them feel seen and heard. We validate and respond to their concerns and what they have been through.
4. Include them and make them feel that they belong and are part of a community.
5. Make them feel safe—both physically and from fear of being shamed or humiliated.
6. Treat them fairly and with equality.
7. Give them a sense of freedom and independence and empower them to experience a sense of hope and possibility.
8. Seek understanding and give them the chance to explain their experiences and perspectives.
9. Give them the benefit of the
doubt by starting with the premise that they have good motives and are acting with integrity.
www.businessmirror.com.ph in proportion to the rest of the country. Votes for senators, party-list groups, district representatives and mayors will be audited in midterm polls.
10.Apologize and take responsibility when we have violated their dignity. We make a commitment to change hurtful behaviors. In conclusion, let’s accept that DIGNITY IS INHERENT. We are all born with dignity, and it cannot be taken away. It is the core of our identity and self-worth. Respect is earned . It is given to you by others based on your actions, abilities, or achievements. You don’t need to respect someone’s behavior, but you should always remember their inherent dignity. This helps you break free from cycles of revenge, hatred, and resentment that lay at the heart of so many conflicts within families, communities, organizations, and society.
Please remember that dignity is an inextricable part of what it means to be a human being. It’s the core of our identity and self-worth. And please, it should also drive our integrity! I look forward to your feedback; contact me at hjschumacher59@ gmail.com
Tuesday, May 13, 2025
Israeli strike on Gaza school kills 16, mostly women and children
By The Associated Press
AN Israeli strike on a school-turned-shelter in the Gaza Strip killed at least 16 people early on Monday, mostly women and children, according to local health officials.
At least five children and four women were among those killed in the strike on a school in the Jabaliya area, the Gaza Health Ministry’s emergency service said. It also said that a number of people were wounded.
The Israeli military says it only targets militants and blames civilian deaths on Hamas because its fighters operate in densely populated areas. There was no immediate comment on the latest strike.
The attack came as US President Donald Trump is heading to Saudi Arabia, Qatar and the United Arab Emirates this week.
After ending a ceasefire two months ago, Israel is intensifying the war in the Gaza Strip, where its 10-week blockade on food, medicine and other supplies is worsening a humanitarian crisis.
Here is the latest:
Family of Israeli-American hostage set to be freed expresses joy and thanks Trump
EDAN ALEXANDER’S family said in a statement that it “received the greatest gift imaginable—news that our beautiful son Edan is returning home after 583 days in captivity in Gaza.”
Alexander’s parents, who live in the United States, were making their way to Israel ahead of the expected release.
The family said it was deeply grateful to Trump and his administration for their efforts to secure their Edan’s release. It also urged the Israeli government to continue efforts to free all the hostages. “Please don’t stop. We hope our son’s release begins negotiations for all 58 remaining hostages, ending this nightmare for them and their families.”
Some families of hostages uneasy over planned release of American-Israeli hostage
THE relatives of Israeli hostages have welcomed the announcement that an American-Israeli hostage would be freed by Hamas as a gesture to President Trump—but there is also unease.
Some said Alexander was singled out for freedom because of his American citizenship and said they were worried about the fate of the other 23 living and roughly 35 dead captives who remain in Gaza.
“Trump is rescuing him. Who will rescue Gali and Ziv?” Maccabit Mayer, the aunt of sibling hostages Gali and Ziv Berman, told Israeli Army Radio on Monday. She said she was sorry the twin brothers don’t have “the right citizenship.” Also, some of the relatives accuse Prime Minister Benjamin Netanyahu of not doing enough to free their loved ones, saying his insistence on continuing the war in Gaza is politically motivated.
Hamas says it will release last living American hostage in Gaza in a ceasefire effort
HAMAS says the last living American hostage in Gaza will be released as part of efforts to establish a ceasefire, reopen crossings into the Israeli-blockaded territory and resume aid delivery to the battered enclave.
Two Hamas officials have told The Associated Press they expect the release of Edan Alexander in the next 48 hours.
Trump’s envoy Steve Witkoff confirmed in a message to the AP that Hamas has agreed to release Alexander as a good will gesture toward Trump.
The announcement of the first hostage release since Israel shattered a ceasefire in March comes shortly before Trump visits the Middle East this week. Alexander is an Israeli-American soldier who grew up in the United States.
Famine looms as Israel presses its blockade of Gaza HOSPITAL patients are among the most vulnerable as Palestinians across Gaza struggle to feed themselves.
Israel’s blockade on food and other supplies entering the territory is now in its third month and hospitals are unable to provide food. Families must bring whatever they can find to help loved ones recover and doctors say patients have lost weight in recent weeks.
Aid groups say malnutrition is on the rise across Gaza. Food distributions have ended and charity kitchens are rapidly closing. Markets are empty of almost everything but canned goods and small amounts of vegetables, and prices have been rising.
PALESTINIANS struggle to obtain donated food at a community kitchen in Khan Younis, in the southern Gaza Strip, Friday, May 9, 2025. AP/ABDEL KAREEM HANA
Zelenskyy challenges Putin to personal meeting in Turkey amid ceasefire push
By Samya Kullab & Dasha Litvinova The Associated Press
KYIV, Ukraine—Ukrainian President Volodymyr Zelenskyy on Sunday challenged Russia’s President Vladimir Putin to meet him personally in Turkey on Thursday, the latest move in a weekendlong exchange of proposals from both sides on the next steps in the US-led peace effort.
Zelenskyy said that he still hopes for a ceasefire with Russia starting Monday, and that he will “be waiting for Putin” in Turkey “personally” after US President Donald Trump insisted Ukraine accept Russia’s latest offer±to hold direct talks in Turkey on Thursday. Ukraine, along with European allies, had demanded Russia accept an unconditional 30-day ceasefire starting Monday before holding talks, but Moscow effectively rejected the proposal and called for direct negotiations instead.
It was not clear if Zelenskyy was conditioning his presence in Turkey on the Monday ceasefire holding, and there was no immediate comment from the Kremlin on whether Putin would go. In 2022, the war’s early months, Zelenskyy repeatedly called for a personal meeting with the Russian president but was rebuffed, and eventually enacted a decree declaring that holding negotiations with Putin had become impossible.
“We await a full and lasting ceasefire, starting from tomorrow, to provide the necessary basis for diplomacy. There is no point in prolonging the killings. And I will be waiting for Putin in (Turkey) on Thursday. Personally. I hope that this time the Russians will not look for excuses,” Zelenskyy wrote on X on Sunday.
Trump said in a social media post earlier Sunday that Ukraine should agree to Putin’s peace talks proposal “IMMEDIATELY.”
“At least they will be able to determine whether or not a deal is possible, and if it is not, European leaders, and the US, will know where everything stands, and can proceed accordingly!” Trump wrote, adding: “HAVE THE MEETING, NOW!!!”
Ukraine, allies insist on a ceasefire FRENCH President Emmanuel Macron, British Prime Minister Keir Starmer, German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk met
with Zelenskyy in Kyiv on Saturday and issued a coordinated call for a 30-day truce starting Monday. The plan has received backing from both the European Union and Trump.
The leaders pledged tougher sanctions on Russia if Putin did not accept the proposal.
Putin in remarks to the media overnight effectively rejected the offer and proposed restarting direct talks with Ukraine in Istanbul on Thursday instead “without preconditions.” He did not specify whether the talks on Thursday would involve Zelenskyy and himself personally.
He said a ceasefire might be agreed on during the negotiations±but stressed that the Kremlin needs a truce that would lead to a “lasting peace” instead of one that would allow Ukraine to rearm and mobilize more men into its armed forces.
Zelenskyy said on X on Sunday morning that it was a “positive sign that the Russians have finally begun to consider ending the war,” but insisted on a ceasefire first.
Putin and Zelenskyy have only met once±in 2019. After repeated unsuccessful calls for a personal meeting with the Russian leader early on in the war, and following the Kremlin’s decision in September 2022 to illegally annex four regions of Ukraine, Zelenskyy enacted a decree declaring that holding negotiations with Putin had become impossible.
Macron said Sunday that Putin’s offer of direct negotiations with Ukraine is “a first step, but not enough,” signaling continued Western skepticism toward Moscow’s intentions.
“An unconditional ceasefire is not preceded by negotiations,” Macron told reporters at the
Poland orders closure of Russian consulate in Krakow following arson claims linked to shopping center fire
By Vanessa Gera The Associated Press
WARSAW, Poland—Polish Foreign Minister Radek Sikorski said Monday that he was ordering the closure of Russia’s consulate in the southern city of Krakow after Polish authorities said Russia was responsible for a fire that destroyed a shopping center in Warsaw last year.
The fire broke out May 12, 2024, in the Marywilska 44 shopping center that housed some 1,400 shops and service points, a budget marketplace in a warehouse-like structure in a northern district of Warsaw. Many of the vendors were from Vietnam, and it inflicted tragedy on many in Warsaw’s Vietnamese community.
Sikorski announced the closure in a statement published in Warsaw on Monday morning, exactly one year after the fire.
He also addressed the matter during a visit to Britain, telling reporters the decision was taken because the Justice Ministry and Security forces found evidence that Russia had committed arson.
“This was a huge fire of a shopping mall in Warsaw in which, just by sheer luck, nobody was hurt. This is completely unacceptable. So, the Russian consulate will have to leave. ... And if these attacks continue, we’ll take further action,” he said.
Sikorski last year already ordered the closure of the Russian consulate in Poznan, one of three at the time in Poland, in response to acts of sabotage including arson attacks that he said were sponsored by Moscow.
This leaves only one Russian consulate, in Gdansk.
There are rising concerns in Europe over Russian attempts to destabilize the region through covert operations. Russia
Polish-Ukrainian border, according to French media, adding that Putin is “looking for a way out, but he still wants to buy time.”
Moscow presses on with peace talks offer; Turkey says it’s ready to host KREMLIN spokesman Dmitry Peskov, in comments aired by Russian state TV on Sunday, called Putin’s proposal “very serious,” aimed at eliminating “the root causes of the conflict,” and said it “confirms a real intention to find a peaceful solution.”
Without directly mentioning Moscow’s proposal, Trump said in a social media post several hours after Putin’s overnight remarks that it was “a potentially great day for Russia and Ukraine!”
“Think of the hundreds of thousands of lives that will be saved as this never ending ‘bloodbath’ hopefully comes to an end,” Trump wrote. “I will continue to work with both sides to make sure that it happens. The USA wants to focus, instead, on Rebuilding and Trade. A BIG week upcoming!” he added.
In another post on Sunday, the US president said Ukraine should accept Putin’s offer “to meet on Thursday, in Turkey, to negotiate a possible end to the BLOODBATH.” He added, however, that he was “starting to doubt that Ukraine will make a deal with Putin.”
Putin spoke Sunday to Turkish President Recep Tayyip Erdogan, who expressed readiness to host the talks, the Kremlin said.
According to the Kremlin’s readout of the phone call, Erdogan “fully supported the Russian proposal”
See “Ceasefire,” A16
has denied that it is doing that. Countries along NATO’s eastern flank, like Poland and the Baltic states, feel especially vulnerable. Lithuania in March accused Russia of carrying out an arson attack last year at an IKEA in Vilnius, the capital. Authorities in these countries have been cooperating as they see that some of the alleged perpetrators work across borders.
Lithuania’s prosecutor general’s office said the suspect in the Vilnius IKEA fire carried out planning during a secret meeting in Warsaw to set fire to and blow-up shopping centers in Lithuania and Latvia for a monetary reward. Sikorski’s announcement followed Prime Minister Donald Tusk saying late Sunday that Polish officials “now know for certain that the massive fire on Marywilska was the result of arson commissioned by Russian services.”
“The actions were coordinated by a person residing in Russia. Some of the perpetrators are already in custody, while the rest have been identified and are being sought,” Tusk said on X. “We will catch them all!”
FROM left, British Prime Minister Keir Starmer, President Volodymyr Zelenskyy, French President Emmanuel Macron, Polish Prime Minister Donald Tusk and German Chancellor Friedrich Merz make a call to US President Donald Trump from Kyiv, Ukraine, on Saturday, May 10, 2025. AP/MSTYSLAV CHERNOV
VP Sara to favor ban on political dynasties, offers to help write it
By Manuel T. Cayon @awimailbox
DAVAO CITY - Vice President Sara Duterte said she favors a ban on political dynasties and offered to write it herself if given the chance.
“I [have] the most solid credibility to talk about it because I come from a political dynasty,” she told reporters outside her polling precinct moments after she cast her ballot at midmorning on Monday at the Daniel R. Aguinaldo National High School She shares the same polling precinct with her father, former President Rodrigo Duterte, who is detained at an International Criminal Court facility in The Hague, The Netherlands.
vote. MANUEL T. CAYON
“I am campaigning against making it automatic for candidates to be voted to a political position on account of being a brother or sister, a spouse, a nephew or a niece,” she said.
Without a law banning dynasties, she said the most that voters could do “is to ask [about] the capacity and competence of a candidate, not because one is affiliated with a big family”.
“Whether or not one is a Duterte, a Marcos, does not mean automatic vote,” she said.
“The next question is, if I am against political dynasty,” she added.
“Yes, I am in favor of a law against political dynasty. We don’t have to go far to seek some dynasties because belong to a political dynasty,” she noted.
If given a chance, Sara Duterte said, “I will be the best one to write that law”.
The Dutertes are among the deeply rooted dynasties in southern Mindanao, with the former President’s father being the first governor of the undivided province of Davao until 1967 when the late President Ferdinand Marcos Sr. signed the law divid -
Ex-Pres. Duterte’s mayoral rival confident of win
DAVAO CITY - The eldest son of the late House Speaker Prospero Nograles said he was confident of taking away from the Dutertes the plum local post in this year’s mid-term elections, pointing at positive assessment from the Nograles’s poll watchers and field coordinators.
Former Rep. Karlo Alexis Nograles told reporters that the predictive winning streak postulated by his inner circle of political pundits was being reported in all the three legislative districts.
ing it into three. His son, who was elected President in 2016, previously ruled as Davao City mayor for 22 years, interrupted only in 1998 when he ran and won a Congressional seat, to observe the three-term limit.
The Vice President herself was also mayor for two terms before she ran for the VP’s post in 2022. Her brother Sebastian ran and won as mayor in 2022 while an older brother, Paolo, is the incumbent Congress representative for two terms.
This year, two sons of Rep. Paolo Duterte are also gunning for elective positions, one for Congress representative, the other for a City Council seat. And only recently, the Duterte siblings’ stepsister Kitty, who took a high profile in the arrest, detention and transfer to The Hague of former President Duterte, was reported being groomed for a future elective post.
tional Criminal Court in The Hague, The Netherlands.
Mindanao mining town PHL’s first Tesda-accredited jewelry training center
DAVAO CITY—The gold-mining town of Monkayo of Davao de Oro is now the country’s seat of jewelry training offering the national competency accreditation.
This came about after the Department of Science and Technology (DOST) Region XI inaugurated the country’s first Jewelry Training Center in partnership with the Technical Education and Skills Development Authority (Tesda) and the Local Government Unit of Monkayo.
This facility is the first in the Philippines to offer the National Competency II (NC II) assessment in Fine Jewelry, the DOST said.
resonating well with how we aspire our Science, Technology and Innovation (SETI) initiatives in DOST create societal impacts to the communities we serve.”
Surveys by different groups showed contrasting trends, one pulling ahead of another.
Nograles is running against former President Rodrigo Duterte, who is detained at a facility maintained by the Interna -
“Except for some incidents in the hinterlands where precinct officers reportedly barred our poll watchers and some supporters from entering to cast their ballots, the trend in all other precincts are encouraging,” he added. Nograles and his youngest sister, Margarita Ignacia “Migs” B. Nograles, cast their ballots at the Teodoro Palma Gil Elementary School in downtown Davao. Both siblings are lawyers by profession.
Scorching heat, scattered rains mark Election Day–PAGASA
42°C to 45°C.
TBy Bless Aubrey Ogerio
HE country experienced warm and humid conditions on Monday, May 12, as voters headed to polling stations for the 2025 midterm elections, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) reported.
The weather bureau’s 4:00 p.m. forecast showed that Metro Manila and most of the country had partly cloudy to cloudy skies with isolated rainshowers and thunderstorms caused by easterlies, or warm winds from the Pacific Ocean.
Migs Nograles is also running against Duterte’s son, Paolo, for the first Congressional seat.
The Nograleses were long-time political nemesis of the Dutertes, until 2016 when the elder Nograles surprised Davao City politics when he publicly announced his support to the Presidential candidacy of Duterte. Then President Duterte appointed Karlo Nograles to the top post of the Civil Service Commission. Manuel T. Cayon
Related
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Along with the inauguration of the center on March 26, the Monkayo Jewelry Training Center also officially launched the country’s first-ever National Assessment on Fine Jewelry NC II.
“This development positions Monkayo as a leader in jewelry craftsmanship and certification, providing local artisans with opportunities for national recognition and career advancement,” said Ms. Mayan Jane J. Inni, Davao de Oro Provincial Science and Technology director.
She said the center will “not only provide empowerment through livelihood opportunities and enhanced competence, but it will also create societal impacts,
The DOST said the initiative began after the original training center was destroyed by Typhoon Pablo in 2012. The DOST XI, collaborated with Tesda and Monkayo LGU to provide essential tools, equipment, and training to local artisans, revitalizing the jewelry-making industry in the region. In 2024, DOST XI led the “Smart and Sustainable Community” project, aiming to elevate the training center to national prominence. With an investment of P1.345 million, DOST supported the upgrade of infrastructure and the development of a new curriculum tailored to the community’s needs.
This transformation led to the center’s accreditation by Tesda, enabling it to offer the NC II assessment in Fine Jewelry, the DOST added.
“The establishment of the Monkayo Jewelry Training Center highlights DOST’s pivotal role in fostering innovation and supporting local industries through SETI initiatives. This initiative not only enhances the skills of local artisans but also contributes to the economic development of the region,” the agency said. Manuel T. Cayon
Heat index
THE weather bureau also reported “dangerous” heat index levels across 28 areas nationwide, with readings ranging from
In Batanes and Cagayan, the weather was influenced by a frontal system, bringing cloudy skies with scattered rain and thunderstorms. PAGASA warned of possible flash floods and landslides in both the metro and affected northern provinces due to moderate to heavy rains. Extreme Northern Luzon experienced moderate to strong winds and moderate to rough coastal waters, while the rest of Luzon, Visayas, and Mindanao saw light to moderate winds and slight to moderate sea conditions. At 2:00 p.m., the maximum temperature recorded was 35.7°C, while the minimum at 6:00 a.m. was 26.4°C.
The highest heat index was recorded in Sangley Point (Cavite City) and Catarman (Northern Samar) at 45°C.
Other areas with a heat index of 43°C included Ambulong (Batangas), Butuan City, Pili (Camarines Sur), Legazpi City, and several locations in Capiz, Iloilo, Isabela, Quezon, and Sorsogon.
At least 13 areas registered a heat index of 42°C, including Dagupan City, NAIA (Pasay City), Iloilo City, and Puerto Princesa.
PAGASA classifies heat index levels from 42°C to 51°C as “danger,” indicating increased likelihood of heat cramps, exhaustion, or even heat stroke with prolonged exposure.
THE Commission on Elections (Comelec) said the heat may have contributed to malfunctions in some vote counting machines, where ballots were reportedly being rejected due to paper expansion caused by humidity.
On the other hand, a 65-year-old man collapsed and died after voting in Bicol. Authorities said Nestor Rensales felt dizzy while still inside the precinct at Oas South Central School, and collapsed shortly afterward.
The incident is being attributed to possible heat-related causes, according to the Bicol Police Regional Office.
PAGASA encouraged the public to take precautions against heat-related illnesses, including staying hydrated, minimizing time outdoors, avoiding caffeinated and sugary drinks and using protective items like umbrellas or hats when under the sun.
Deprived of liberty, but not the right to vote: 68K PDLs seen casting ballot
MPMA cadets to enjoy E- games on warfare
By Marilou Guieb
WE call the young ones today the joystick generation.
This was the description of Philippine Military Academy (PMA) Superintendent VADM Caesar Bernard N. Valencia of young people, including his cadets.
As so, the academy will start introducing e- games into the military training of cadets starting the next academic year.
This is one of the curriculum changes brewing at the PMA now.
The young today, they have the joystick on the left hand and their right hand on the keyboard—yes, playing games.
Gen. Valencia acknowledges that it is the language the young understand. “It is the reality, we cannot change that,” he said. But rather than ignore it, the PMA will be using it to an advantage.
“We will have e-games on strategies and tactics,” he added. PMA cadets will be playing against West Point. Surely, this will engage the attention of cadets and enhance their interest. “These will be commerical off the shelf games, I don’t know about games, but the young will know,” he said.
Another is having a global classroom.
This is to present to the student cadets different perspectives on different aspects,
like on international relations. For example, the subject on United States civil war can be conducted and delivered, via online by somebody from Westpoint, Valencia said. ”The new subjects will be on cyber warfare, drone warfare, artificial intelligence. There will also be the combined arms tactics, especially for the Philippine Army,“ Valencia continued.
While the new courses seem to suggest preparing the cadets on the virtual dimension for an imminent war, Valencia said that it’s merely a move to step with the times. It is also in compliance with the instructions of President Bongbong Marcos for the PMA to upgrade its curriculum aligned with the times. Supt. Valencia said they are just waiting for the order from the Department of Defense after it has approved the new curriculum. We are just waiting for the directive for this to be the new curriculum for the next five years, he said Valencia also said that the PMA willl be expanding its cadets to 2,000 by next school year. He explained that the Armed Forces of the Philippines (AFP) is growing. The ships are increasing, there are new airplanes. “A growing AFP will require new officers. And since we are the primary source of military officers, then we need to expand,” Valencia said.
Convergence initiative highlights importance of Bateria Watershed
By Joel R. San Juan @jrsanjuan1573
ORE than 68,000 persons deprived of liberty (PDLs) were expected to cast their votes for the national and local elections in various prison and jail facilities, according to the Commission on Elections (Comelec).
Comelec Chairman George Erwin Garcia, who personally observed the voting process at the New Bilibid Prisons (NBP) in Muntinlupa City, said allowing qualified PDLs to register and vote only showed that the government continues to recognize their right as an individual and fellow Filipinos.
“Even if they are in prison, they still have the right to vote, especially when it
comes to positions like senator. Because it is important that their sentiments and current situation will be heard by those they will elect,” Garcia told reporters in an ambush interview at the NBP compound.
“Whether it is a cry for justice, whether it is a cry for speedy disposition of the case or whether it is a cry for better or improved conditions with regard to their cases,” Garcia added. However, Garcia said not all PDLs are qualified to participate in election proceedings.
Among the qualified PDLs who are allowed to register and vote are those confined in jail or those formally charges for any crime and awaiting or undergoing trial, those serving a sentence of imprisonment for less than one year and those whose
conviction of a crime involving disloyalty to the duly constituted government such as rebellion, sedition, violation of the firearms laws or any crime against national security or for any crime on appeal.
Based on the data provided by the Bureau of Corrections (BuCor), a total of 4,125 PDLs registered to vote Monday election.
Out of the 4,125 PDLs qualified to vote, 2,135 are from the NBP; 924 from the Davao Prison and Penal Farm; 421 from Leyte Regional Prison; 290 from San Ramon Prison and Penal Farm in Zamboanga del Sur; 140 from Iwahig Prison and Penal Farm in Puerto Princesa, Palawan, 124 from Correctional Institution for Women (CIW) in Mandaluyong City; and 92 from CIW-Mindanao.
Garcia also confirmed that several foreign observers were allowed to visit the NBP to witness the conduct of the synchronized national and local elections inside the prison facility.
“This is one of the areas they chose to observe,” Garcia said.
“They had no trouble getting in, and the Bureau of Corrections [BuCor] coordinated properly. However, we reiterated that voters must not be approached while casting their votes—basic respect,” he added.
Garcia also pointed out that the votes cast by PDLs inside the prison and jail facilities will not be counted at the site, instead, these will be transported to the voter’s original precincts and batch-fed into vote-counting machines (VCMs.)
ANATIONAL Convergence Initiative in Guihulngan City, Negros Oriental has put premium to the protection and conservation of the province’s rich natural resources and highlighted the importance of the Bateria Watershed.
Nestled in the heart of Negros Oriental, the 8,000-hectare Bateria Watershed is a vital natural resource that sustains the lives and livelihoods of over 48,000 residents across 15 barangays in Guihulngan City.
It is rich in biodiversity and flows with lifegiving water. The watershed supplies clean drinking water, supports farm irrigation, and nurtures local communities’ socio-economic growth. Its importance extends beyond the land—it drains toward the Tañon Strait Protected Seascape, a marine biodiversity hotspot declared under Republic Act No. 11038.
This ecological connection underscores the crucial role of the Bateria Watershed in both upland and coastal ecosystem protection.
To ensure its sustainable development, the National Convergence Initiative for Sustainable Rural Development (NCI-SRD) was launched in the area through the collaborative efforts of the Departments of Agriculture (DA), Agrarian Reform (DAR), Environment and Natural Resources (DENR), and Interior and Local Government (DILG).
Joint Administrative Order No. 1, series of 2020, aligns government efforts to address poverty, protect the environment, and
empower communities. The DAR has distributed 3,378 hectares of land to 4,602 Agrarian Reform Beneficiaries (ARBs) under the Comprehensive Agrarian Reform Program (CARP) in the area. The beneficiaries, organized into cooperatives, have received critical support through the Belgian-funded Integrated Agrarian Reform Support Program (BIARSP). This includes the construction of farm-to-market roads, communal irrigation systems, and providing livelihood infrastructure such as Botika ng Bayan outlets and Day Care Centers. Farmers and fisherfolk in the area grow crops, raise livestock, and engage in traditional crafts such as bayong and silhig lanot making. Their products reach Cebu, Bacolod, and Dumaguete markets, contributing to the local economy. Through the CADP (Convergence Area Development Plan), the NCI-SRD also aims to raise
VP Sara Duterte arrives at her polling precinct in Davao City on Monday, May 12, 2025 to cast her
Philippine economy: Can reforms unlock sustainable growth?
THE Philippine economy grew by 5.4 percent in the first quarter of 2025. While this marks an improvement over the previous quarter, it also points to concerning trends that require close examination. Data from the Philippine Statistics Authority (PSA) indicates a stable economic momentum, yet it underscores ongoing challenges that prevent stronger growth. (Read the BusinessMirror story: “Trade, weak output cited in slow growth,” May 9, 2025).
The 5.4 percent growth, while positive, suggests that the economy is not expanding as rapidly as policymakers and analysts had hoped. The underlying data likely reveals a complex picture, with some sectors performing well while others continue to struggle. This uneven growth pattern points to structural imbalances that need to be addressed through targeted policy interventions.
Economists have pointed to global uncertainties, sluggish production, and front-loaded election spending as key culprits for this slower-than-expected growth. The ongoing tension in international trade, particularly the tariff policies under the Trump administration, has stifled export opportunities and dampened investor confidence. As former socioeconomic planning secretary Dante Canlas noted, these external pressures have made Philippine exports lackluster, complicating the country’s economic trajectory.
Moreover, while sectors like wholesale and retail trade, financial services, and manufacturing showed commendable growth, the reliance on non-tradable sectors raises questions about the sustainability of this growth. The economy’s heavy dependence on domestic consumption and government spending, while providing short-term boosts, may not be sufficient to foster long-term resilience.
The election season is often viewed as a catalyst for economic activity; however, the current trend of front-loading public expenditures suggests a more cautious approach from politicians. This strategy, while perhaps prudent, could lead to a slowdown in economic momentum during the crucial early months of the year.
As economists like Ella Oplas and Leonardo Lanzona have pointed out, without significant productivity-enhancing reforms, the Philippines risks stagnation. The lack of foreign investments and limited domestic production capacity are symptoms of deeper structural issues that must be addressed if the country is to meet its growth targets.
Looking ahead, the government remains optimistic about achieving its fullyear growth target of 6 percent to 8 percent. However, this optimism must be tempered with realism. Achieving even the lower end of this target will require concerted efforts to stimulate investment and enhance production capabilities.
In light of these challenges, the call for major reforms is more pressing than ever. As we navigate this landscape of uncertainty, it is vital for policymakers to adopt strategies that not only respond to immediate economic pressures but also lay the groundwork for sustainable growth. Only by addressing the root causes of our economic vulnerabilities can we hope to build a resilient economy capable of weathering future challenges.
While the first quarter’s growth is a step in the right direction, it serves as a reminder that the journey towards a robust and thriving economy is fraught with challenges that require proactive and effective governance.
To address economic challenges, the Philippines must confront global uncertainties, boost domestic production, and implement productivity reforms. This approach will help the country navigate difficulties and pursue its longterm economic goals.
Opinion
Tariffs: Factories fade, costs climb
TOUTSIDE THE BOX
HE economic empire China built was on cheap goods and American wallets. Now, Trump’s tariffs are torching that foundation—and the fallout is just beginning. Factories fade in China’s heartland; costs climb in American stores.
China’s economic juggernaut ran on five pillars. The first that crushed Western rivals was dirt-cheap manufacturing, fueled by a never-ending demand from US consumers buying affordable goods. Decades-long flatlined wages squeezed American consumers. They gobbled ‘Made in China’ like candy.
US productivity soared 74 percent over 40 years from 1973. But workers got only a 9 percent crumbs increase in real hourly wages. Further, US manufacturing jobs bled 7 million jobs from 1979 to 2010. Somebody was getting richer, just not the American worker.
The result? Beijing feasted on export cash, bought US IOUs, kept the yuan low, and exports roared. Beijing used America’s credit card to fund its factory empire.
China also bolstered its economy through the decades with massive state-led infrastructure spending and a heavily government “encouraged” and financed property sector. Beijing’s property bubble, juiced for decades and once a growth driver, is now a $300 billion debt bomb— see mega-property developer Evergrande’s collapse. Another crack in
T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug
Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo Ruben M. Cruz Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon
China’s economic foundation.
This was not the free-market vision pitched in the 1990s. China went for “special” regulations and strict political oversight. The West played free market Tong-its; China played state-run Go. The strategy depended on uninterrupted global trade and low tariffs.
Here is an interesting irony. Western businesses long fantasized about capturing China’s vast consumer market, envisioning a “Western product” in every household. Yet, China emerged not as a consumer hub but as a manufacturing giant. Only now is the US reckoning with the impact on its own industries, creating a new economic reality.
The first Trump administration’s 2018 tariffs cut US imports from China. A pandemic-driven spike in demand for goods like medical supplies offered temporary relief, but the second Trump administration’s aggressive tariffs, supposedly sold as reviving US manufacturing (wake me in five years) are crashing China’s export model.
How difficult are Trump’s Tariffs for China? Shein’s “Village” is a ghost town; Temu’s deliveries are
Here is an interesting irony. Western businesses long fantasized about capturing China’s vast consumer market, envisioning a “Western product” in every household. Yet, China emerged not as a consumer hub but as a manufacturing giant.
dead, US imports crashed 43 percent in a week. From trade consultant reports: “Dozens of garment workshops in Guangzhou’s Panyu district have gone idle, marking a major shift in the global fast-fashion supply chain.” “Chinese e-commerce giant Temu halted US deliveries after the Trump administration closed the “de minimis” loophole.” “US imports continue to plummet, with a 43 percent week-over-week drop in containers.”
But what about on the receiving side of the trade flow where America is hooked on China’s stuff and not just fentanyl? China accounts for 35 percent of US electronics consumption, 80 percent of iPhones, and supplies the same 35 percentage of textiles and apparel.
In the pharmaceutical sector, China supplies 40 to 50 percent of active pharmaceutical ingredients and 10 to 15 percent of finished drugs.
The toy industry is similarly reliant, with 90 percent of toys sourced from China, while furniture and household goods represent 25 percent. Probably 30 percent of IKEA’s furniture sold in the US originates from China. At least IKEA’s meatballs are produced in Europe.
This trade war is redrawing the global map, and nobody is escaping unscathed. China’s export engine,
CATL starts taking investor orders for world’s biggest listing this year
By Dave Sebastian
CONTEMPORARY Amperex Technology Co. Ltd. has started taking investor orders for a Hong Kong stock offering that is likely to be the world’s biggest listing this year.
CATL, as the Chinese electricvehicle battery giant is known, is seeking to raise as much as HK$41 billion ($5.3 billion), according to its listing document on Monday. That’s if the deal is upsized and the greenshoe exercised on top of the base offering of up to HK$31 billion.
The Fujian-based company is marketing shares at a maximum price of HK$263 each, or 1.4 percent lower than Friday’s close in Shenzhen but roughly equivalent to Thursday’s.
Pricing could be decided as soon as Tuesday and the stock is expected to begin trading May 20.
The share offering would more than double proceeds in Hong Kong’s market for listings this year, which Bloomberg Intelligence predicts will surge to more than $22 billion. The bonanza’s been driven by Chinese companies going ahead with their listing plans in the Asian financial hub despite the turmoil brought on by US President Donald Trump’s tariffs, which have caused many deals to be postponed in America and Europe.
CATL shares rose as much as 3.4 percent in Shenzhen trading, outperforming the benchmark index.
CATL is offering about 118 mil-
lion shares in the base offering, which could increase to around 136 million if the company upsizes the deal by 15 percent. With the greenshoe option, the company would be selling nearly 156 million shares. Cornerstone investors, which agree to hold shares from the deal for at least six months, have committed to buy about $2.6 billion worth of stock, according to the prospectus. They include Chinese state-owned oil company Sinopec, the Kuwait Investment Authority and alternative-asset manager Hillhouse Investment. CATL said it was doing the deal in the form of a so-called Regulation S offering, which doesn’t allow sales to US onshore investors and exempts the issuer from certain US regulatory filing obligations, confirming an earlier Bloomberg News report. The limitations on certain types of
once generating $3.4 trillion in annual revenue, faces a potential 20 percent reduction by 2026 as tariffs strangle demand. Beijing is now forced to rely on a domestic market too weak to bridge the gap—consumer spending constitutes only 38 percent of gross domestic product, compared to 68 percent in the United States. The US is not celebrating; price increases of 10 to 15 percent loom for electronics and apparel as supply chains shift to costlier regions like Asean. Hopes of a manufacturing revival are exaggerated—post-2018 tariffs yielded negligible factory job growth, constrained by automation and skills shortages.
The global economy is fragile, but China is particularly vulnerable. Its reliance on Western exports, especially to the US, leaves it more exposed in a trade war. America pays more for Chinese goods. But it is China’s workers that pay the price and forfeit a paycheck.
This is not merely about tariffs; it is a collision of economic systems revealing decades of mutual dependence. Chinese workers face unemployment, American consumers confront higher costs, and global markets prepare for instability. China is racing to restructure its economy; the US is grappling with self-reliance. The stakes are immense, and the outcome is uncertain. One fact remains: the era of cheap goods and seamless trade has ended. The world’s economy is a bar fight—China and the US are swinging, and everyone else is ducking.
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.
US investors indicates that US-China tensions may be spilling into the new-listings landscape. The company also received a waiver from the Hong Kong exchange on the need to carry out a clawback mechanism, which would have required it to allocate more shares to retail investors if demand were high enough, according to the prospectus. The waiver allows for institutional investors to maintain a larger proportion of shares allocated for the Hong Kong listing. The share offering would more than double proceeds in Hong Kong’s market for listings this year, which Bloomberg Intelligence predicts will surge to more than $22 billion. The bonanza’s been driven by Chinese companies going ahead with their listing plans in the Asian financial
John Mangun
Japan’s sputtering economy likely stalled before Trump’s tariffs
By Toru Fujioka
JAPAN’S
economy likely suffered a contraction in the first three months of this year, signaling underlying fragility even before US tariff measures started hitting the country in earnest, according to economists surveyed by Bloomberg.
Gross domestic product adjusted for inflation shrank by 0.3 percent in the first quarter on an annualized basis, according to the median estimate of economists. That result would mean the first quarterly drop in a year.
A decline would cast a shadow over both the Bank of Japan’s plans to steadily continue with policy normalization and Prime Minister Shigeru Ishiba’s election hopes this summer. It also highlights the weaknesses in Japan’s economy even before it was hit by stringent tariffs from its biggest security partner, and raises the chance of a technical recession.
In the preliminary GDP data due Friday, forecasters expect several factors to be at play. They see a big drag from net exports after a drop in imports gave an unexpected boost in the previous quarter, while consumer spending is seen as remaining stagnant amid elevated inflation.
“There’s no engine to drive Japan’s economy at the moment,” said Yoshiki Shinke, senior executive economist at Dai-Ichi Life Research Institute. “This is even before the Trump tariffs hit. I see a good chance of another quarter of contraction following right after.” Any clear signs of weakness will add to Japanese policymakers’ list of headaches amid few signs of Japan and the US nearing a trade agreement. Commerce Secretary Howard Lutnick last week said “an enormous amount of time” is needed to reach deals with Japan, just as President Donald Trump announced a framework agreement with the UK. Friday’s data are also likely to support the BOJ’s wait-and-see stance. Earlier this month, Governor Kazuo Ueda’s board signaled a one-year delay in their expected timing for reaching their stable inflation target. They also halved their growth outlook for this fiscal year, the biggest cut since the release of the projection in 2023.
Following the dovish signs from the latest policy meeting which ended May 1, many BOJ watchers including Goldman Sachs and Barclays have pushed back their call for when they expect the next rate hike from the central bank.
“The BOJ will probably have to wait at least until next year,” said Masamichi Adachi, chief Japan economist at UBS Securities and a former BOJ official. “You can’t rule out a chance that the focus for the BOJ shifts to a rate cut by the end of the year.” Japan’s biggest companies are beginning to slash their profit fore-
hub despite the turmoil brought on by US President Donald Trump’s tariffs, which have caused many deals to be postponed in America and Europe. The deal hasn’t come without hurdles. The company was put on a Pentagon blacklist in January based on allegations of CATL’s links to the Chinese military—something the company has denied repeatedly.
The heat has spread to even some of the banks arranging the deal. In April, a US congressional committee publicly called on JPMorgan Chase & Co. and Bank of America Corp. to stop working on the listing because of CATL’s alleged military links— again, denied by the company. But both American banks stuck with the deal.
After the sale, CATL plans to use much of the proceeds for its ongoing international expansion in Europe, especially for a big factory in
Opinion
BusinessMirror
A good pair of ships
AShrinking corporate profits will fuel concerns over the sustainability of Japan’s inflation-wage cycle. Consumer spending has been lackluster as real wages have been falling for a good part of the past three years as the cost of living overall has risen well above the BOJ’s 2 percent target.
casts due to the tariffs. Last week Toyota Motor Corp. reported their profits will sink by about one-third this fiscal year compared to last year. The details of the tariffs are “still incredibly fluid, so it’s difficult to take steps,” Chief Executive Officer Koji Sato said at a briefing.
Shrinking corporate profits will fuel concerns over the sustainability of Japan’s inflation-wage cycle. Consumer spending has been lackluster as real wages have been falling for a good part of the past three years as the cost of living overall has risen well above the BOJ’s 2 percent target.
“Japan is having its own version of stagflation,” Adachi said. “Consumer spending isn’t robust enough to support a moderate recovery on the whole.”
Partly due to inflation, Ishiba has seen his popularity drop to the lowest level since he took office in October. Any weak GDP data will likely fuel ongoing political debates over a fresh economic package ahead of a summer upper house election.
To be sure, Japan’s GDP data have a history of surprises and large revisions. For the preliminary report for the three months through December, the Cabinet Office reported that annualized GDP grew 2.8 percent, more than double the median estimate of 1.1 percent, driven by a fall in imports. This time, consumer spending for services could be unexpectedly solid as new service sector data have been showing surprising jumps, Shinke said.
Japan’s potential growth rate is estimated to be around 0.6 percent, the lowest among Group of Seven countries, according to the Cabinet Office. That raises the risk of the economy shrinking with even a small shock to the system. An economic contraction last quarter would mark its sixth since 2021, compared with twice in the US.
“Of course a major risk is being created by Trump—one person. So the outlook could shift dramatically if he changes his mind,” Shinke said. “But it’s hard to be upbeat about the economy right now and I can’t deny the chance of a recession.” With assistance from Brian Fowler /Bloomberg
Hungary to supply top clients like Mercedes-Benz. That may help the company widen its lead in the industry, where it has a a market share of roughly 38 percent, comfortably ahead of its closest challenger, top EV maker BYD Co.’s 17 percent, according to SNE Research. As for Hong Kong, the deals keep on rolling. Chinese cancer drugmaker Jiangsu Hengrui Pharmaceuticals Co. is also gearing up for a big listing this month, people familiar with the matter have said. Besides JPMorgan and Bank of America, joint sponsors of CATL’s offering include China International Capital Corp. and China Securities International. Goldman Sachs Group Inc., Morgan Stanley and UBS Group AG are also arranging the deal. CATL said it would pay the underwriters a fixed fee of 0.2 percent of the deal, including shares to be issued if the offering gets upsized and the greenshoe option is exercised. The banks may also receive a 0.6 percent incentive fee. Bloomberg
Siegfred Bueno Mison, Esq.
THE PATRIOT
LMOST everyone has heard about the Titanic, the largest and most luxurious passenger ship when it was launched in 1911. Fast forward to 2024, a reputable cruise line Royal Caribbean International released the ship, Icon of the Seas, a whopping five times the size of the Titanic. Both commercial ships, the Titanic and the Icon of the Seas, have both held the title of the world’s biggest ship. In naval warfare, the German battleships Bismarck and her sister ship Tirpitz were the most feared battleships in the German Navy during World War II.
The Bismarck was in service for only less than a year as it was sunk in 1940 by way of a combined force of Allied battleships, cruisers, destroyers, and even an aircraft carrier. The sinking of the Bismarck dealt a massive blow to the German campaign against the British Navy. Years after, Japanese battleships Yamato and her sister ship Musashi were considered as the largest and most heavily armed battleship of its time. As Japan was about to lose in World War II, the Yamato was sent on a one way mission to protect Okinawa in 1945. She was sunk by torpedo bombers from aircraft carriers, rather unceremoniously. Navies of the world these days do not make battleships anymore since the advent of the aircraft carrier. The battleships Yamato (Japan) and Bismarck (Germany) epitomized the supposed supremacy of their respective naval engineering as both ships showcased speed, size, and power, which instilled fear in the Allied forces. Yet, their glory days remain as case studies for students of naval warfare. When both ships were built, they were supposed to outlast all others due to their sheer superiority in terms of armaments. But in any battle, as in any situation or trial in life, nothing is ever predictable. Not everything can be said to make sense.
A survey of Philippine senators since the 8th Congress (1987-1992) up to the 18th Congress (2019-2022) has revealed a gradual shift of vot-
ing preferences, from competence to popularity. The 8th Congress only had one celebrity senator in the person of actor Joseph “Erap” Estrada who gained experience in public service as city mayor of San Juan. From the 9th to the 12th Congress, celebrities who have minimal or zero experience in making laws or serving in government were elected as senators (actor Ramon Revilla Sr., TV host Vicente “Tito” Sotto, basketball players Freddie Webb and Robert Jaworski, and TV broadcaster Noli De Castro). By the 13th Congress, the sons of actors Erap Estrada and Ramon Revilla were elected as senators, together with action movie star Lito Lapid. Interspersed in the mix of celebrity-senators were notable PMA graduates who gained nationwide popularity through various means (Honasan, Biazon, Lacson, Trillanes, and Bato Dela Rosa). Over time, the Senate has become a family affair. Children (Jinggoy Estrada, Noynoy Aquino, Bongbong Marcos, Nancy Binay, Imee Marcos, Mark Villar, Alan Peter Cayetano) or spouses (Loi Estrada and Cynthia Villar) of public figures became senators. For this midterm 2025 elections, at least there senatorial candidates are banking on their nationwide popularity —Ben Tulfo, Willie Revillame, Philip Salvador. Some capitalize on their last name or sibling’s accomplishments in the Senate—Camille Villar and Abby Binay, despite having limited exposure to legislative work.
As some surveys indicate, it is possible that nine out of the 24 senators for the next Senate will be coming from political families whose independence will remain suspect due to family ties. From my point of view, this trend appears to be irreversible unless the spirit of the constitutional provision against political dynasties is legislated. With the current line-up of legislators, the likelihood of passing a law against themselves does not seem to make sense from a governance perspective.
A charismatic preacher once said, if something does not make sense, worship. Pastor Peter Tan-Chi of Christ Commission Fellowship once preached his followers that the best remedy when faced with something that defies science or logic or any kind of rational thinking is to worship.
Some believers think that worship entails shouting words of praise and joy out loud. Others stick to the literal meaning of “bowing down” as a gesture of respect or submission. A few think that worship is service or sacrifice. All perspectives are correct since worship comes in many forms as I learned recently. In its general sense, worship is the response to someone amazing—we either pay homage or serve or revere. In the Bible, worship can be done thru public rituals like praise songs or private moments like prayers as long as they are all done in reverence to an Almighty God who knows us, is with us, and made us. Worship can be done every day for believers since worship is the heartbeat of their existence. But these daily worship activities of respectful devotion, prayers, praise, submission, obedience, respect, and service can only be accomplished if believers have a genuine relationship with the Almighty God. Relationships are not created overnight. They are nurtured through constant interactions. For Filipino believers, these interactions can be through constant and consistent communication through worship activities—reverence through praise songs, service to others, and prayers of devotion.
For every Filipino voter, the two “ships” needed during and after these elections are worship and relationship. True worship comes only when there is genuine relationship with God and other believers. As such, when the results of this 2025 elections may not seem to make sense for others, myself included, there is no need to resort to violence or disobedience. I encourage everyone to remain assured by the promise of Proverbs 3:5-6, “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight.” As my pastor friend Gary Galvez told me, “pray before during, and after casting your vote.” And when we pray, we ask for everything we desire (honest and fair elections, etc.) but always end with reverence by saying “thy will be done.” In terms of guidance in casting our ballots, let’s remember the biblical passage in Psalms 139:23-24 —“Search me, God, and know my heart; test me and know my anxious thoughts. See if there is any offensive way in me, and lead me in the way everlasting.” We need to invoke the presence of the Holy Spirit within ourselves to help us discern who to vote for and what is best for our country. Candidates, election watchers and volunteers, and voters have done much. The Comelec may have tried its best to come up with Bismarck or Yamato like systems in the automated counting, online transmission, and computerized tabulation of votes. Still, some precincts that use the system can be doomed or “sunk” by factors beyond our control. I know with our continued worship to One Omniscient God anchored on a personal relationship through the Holy Spirit that dwells in us, the outcome is already in God’ Hands. Whoever gets elected, fairly or otherwise, will serve a divine purpose.
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.
Markets to decide if words are enough after US-China trade talks
By Naomi Tajitsu, Anya Andrianova & Elena Popina
FINANCIAL markets will reopen needing to decide if warm words are as good as action after trade talks between the US and China ended with President Donald Trump’s advisers declaring “substantial progress” had been made, yet without providing many details.
Speaking after two days of negotiations in Geneva, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said that they will share more information on Monday. Greer told reporters “differences were not as large as maybe thought.” Chinese officials echoed the message during a separate briefing on Sunday, saying that talks between the two sides achieved a “sound sustainable development’ for the Chinese-US relationship.
“I’d imagine we’ll see at least some kind of knee-jerk risk-on move, as participants had trimmed risk ahead of the talks, and are likely now a bit more comfortable to re-enter those positions given that we’ve seemed to avoid a worst case scenario of the talks collapsing, and do appear to have achieved some progress,” said Michael Brown a senior research strategist at Pepperstone Group Ltd. in London, “That said, I’d imagine conviction is going to be lacking until we hear specifics. It’s very much a case of having more questions than answers at this stage.”
Early indicative prices in foreign exchange markets in Australia and Asia, showed both euro and yen edging lower against the US dollar. The offshore yuan was also indicated slightly stronger.
Investors entered the weekend
seeking signs of a detente in the trade war that’s been the biggest driver of markets this year. The fear is that un-
less reversed, tit-for-tat tariffs risks dealing a stagflationary blow to the US and world economies by driving them into recession and at the same time boosting inflation.
Markets have erased much of the damage from Trump’s so-called Liberation Day tariff announcements as the president pulled back on some of his protectionist pledges, but investors are nevertheless likely to stay wary of staking large bets on encouraging comments before any concrete plans are announced to reduce levies, especially those between the world’s two largest economies.
Wall Street ended Friday on a cautious note, with stocks and bonds fluctuating, after some optimism in the preceding days that the talks in Switzerland would at least narrow differences between Washington and Beijing.
“The de-escalation of trade, economic and geopolitical tensions could give market risk sentiment a boost,” said Valentin Marinov, head of G-10 FX research and strategy at Credit Agricole. “The latest developments could become a boon for risk-correlated assets and currencies and a blow to safehaven currencies like the yen, Swiss franc and even the euro.”
Risk assets may also benefit from the ceasefire between India and Pakistan, as well as signs the leaders of Russia and Ukraine may meet this week. Sentiment toward the Australian
Investors entered the weekend seeking signs of a detente in the trade war that’s been the biggest driver of markets this year. The fear is that unless reversed, tit-for-tat tariffs risks dealing a stagflationary blow to the US and world economies by driving them into recession and at the same time boosting inflation.
dollar, often seen as a proxy for the Chinese economy, has improved recently and will also be a key asset to monitor when market renew trading.
Rounds of retaliation have raised US tariffs on imports from China to 145 percent, while the Chinese have put in place a 125 percent duty on US goods. Two-way annual trade between both countries is around $700 billion, and China has an estimated $1.4 trillion of portfolio investments in the US.
The US side had set a target of reducing tariffs below 60 percent as a first step that they feel China may be prepared to match, people familiar with the conversations said before the weekend. Trump said on social media on Friday that an 80 percent levy “seems right!”
The S&P 500 Index has risen back to around where it was prior to Trump’s announcement of reciprocal tariffs in early April, a declaration which triggered the worst day for equities since 2020.
A week later, Trump paused the steepest of the tariffs on most countries other than China, sparking a rally in the S&P 500 that was the best since the 2008 financial crisis.
A trade deal struck with the UK last week also helped lift confidence that pacts were possible although the details disappointed. Trade pressures are already starting to hit US businesses, with companies from United Parcel Service Inc. to Ford Motor Co. to Mattel Inc. withdrawing guidance, citing tariff uncertainty that’s getting too hard to navigate. The average member of the S&P 500 made 6.1 percent of its revenue from selling goods in China or to Chinese companies in 2024, according to an analysis from Bloomberg Intelligence.
The dollar last week enjoyed its biggest weekly gain since late March, but is still suffering its worst start to the year in at least two decades with the Bloomberg Dollar Spot Index down 6 percent so far. Since April 2, speculative traders—including hedge funds and asset managers— have built an increasingly bearish position on the dollar, according to data from the Commodity Futures Trading Commission. They hold some $17 billion worth of wagers tied to bets that the greenback will weaken, the latest data show. Chinese shares edged lower on Friday amid investor caution. The region’s CSI 300 Index has come close to recouping all its losses since Chinese goods were targeted with US tariffs above 100 percent early last month. Strategists at Goldman Sachs Inc. last week raised their 12-month index targets for MSCI China and CSI 300 to 78 and 4,400, implying about 7 percent and 14 percent returns from the current levels. Despite their traditional safehaven status, Treasuries have also slipped since early April, sending the yield on 30-year bonds up to 4.83 percent on Friday, from a recent low of 4.41 percent in
Editor: Jennifer A. Ng
ERC to GenCos: Explain failure to submit fuel data
TBy Lenie Lectura @llectura
HE Energy Regulatory Commission (ERC) will issue show cause orders against 40 power generation companies (GenCos) which failed to submit the monthly fuel data documents prescribed in their power supply agreements (PSAs).
“After careful deliberation, the commission resolved to approve the issuance of individual show cause orders against 40 GenCos for failure to comply with the Order of the Commission to submit complete documents and data for fuel audit, in violation of Section 43 (o) and (r) of RA [Republic Act]
9136 with additional instructions issued by the Commission during the deliberation,” the ERC said in a notice.
When sought for comment, ERC Chairperson Monalisa Dimalanta said fuel invoices need to be submitted monthly to support the passthrough fuel costs incorporated in
the GenCo billings.
“The DU [distribution utility] needs this to verify if the pass through costs—volume, price, efficiency rates—are within the formula and cap allowed by the Commission in the Order or Decision approving the implementation of the PSA,” Dimalanta said via Viber.
She added that the commission will issue a final order together with the list of GenCos within the week.
“If there is no basis for the passing on of costs, those costs cannot be charged or will need to be refunded if already charged to consumers. Also, there could be administrative fines imposed on both DU and GenCo.”
The fuel audit is necessary in order to verify the accuracy of fuel charges imposed on consumers.
“By scrutinizing fuel charges and ensuring their accuracy, the ERC
aims to safeguard the rights and interests of electricity consumers, preventing the undue burden of unjustified costs,” the ERC said.
Last April, the ERC said it approved 14 PSAs and issued 977 Certificates of Compliance (COCs) and Provisional Authorities to Operate (PAOs) in the first quarter.
These approved PSAs cover power supply to various distribution utilities, particularly those in Region 8, to mitigate exposure to price volatilities in the market.
The 977 issued COCs, meanwhile, authorize the operations of 94 self-generating facilities, seven independent power producers (IPPs), and 868 net-metering qualified end-users while 77 PAOs were granted to IPPs across Luzon, Visayas, and Mindanao—accounting for a total of 5,419 megawatts of supply to the country’s power grid.
Discount stores seen growing further
By VG Cabuag @villygc
HARD discounters, with brands such as Dali and O! Save, are expected to sustain their growth over the medium-term as players open more branches and expand their private label portfolio.
Stanley C. Co, Robinsons Retail Holdings Inc.’s president and CEO, said the company’s entry into O! Save Trading Philippines Corp. as a minority owner has allowed the company to tap into the mass market segment.
“Moreover, our exposure in O! Save has given us a holistic view of consumer behavior, having a great -
er visibility on all income classes,” Co said.
“This has allowed us to become more agile and proactive in capturing emerging opportunities in the growing and dynamic food retail industry in the country.”
Hard discounters offer products at cheaper prices by having lean operations, such as allowing customers to bag their own groceries and offering more house brands.
“We are not displaying individual items on our shelves but sell out of boxes and from pallets. We avoid anything which is not necessary and which would potentially increase the sales price of our products,” O! Save said in its website.
“As such, hard discounters have grown quite significantly since they started operations four years ago,” Co said.
O! Save has around 400 stores. Founded in 2021, the company opened its first store in San Fernando, Pampanga in 2022, a year later after Dali opened its first store in the Philippines.
Dali, owned by Hard Discount Philippines Inc., is a Swiss international hard discount retail chain with a primary focus on Southeast Asia, mainly in the Philippines. It has about 1,000 stores in the country, or less than half of the 2,100 Alfamart convenience store, owned by the SM Group.
Co said they also plan to accelerate its expansion for Uncle John’s, whose growth has stalled. The chain of convenience stores used to be known as Ministop.
“We plan to accelerate our store expansion for Uncle John’s by doubling down on growing our franchise stores as this would allow us to expand quickly while managing our capital expenditures and operating expenses more efficiently,” Co said.
“For our ready-to-eat [RTE] products, we plan to strengthen this business by launching new affordable and relevant products. This should also help prop up our margins, given the high margin nature of our RTE categories.”
Toyota faces biggest hit from Trump tariffs among automakers
TOYOTA Motor Corp. is the biggest carmaker in the world—and a lso the auto industry’s biggest loser when it comes to projected losses from US President Donald Trump’s trade war.
Duties on imported cars and auto parts forced General Motors Co. to slash its full-year profit guidance by as much as $5 billion, while Ford Motor Co. is bracing for a $1.5 billion annual hit. Toyota sees a $1.2 billion profit drop in just two months. While the Japanese automaker didn’t provide a tally for all of 2025, it did project operating income of ¥3.8 trillion ($26.1 billion) for the fiscal year ending March 2026—far below the ¥4.7 trillion expected by analysts.
W hile Toyota has increased local production in the US to more than half of sales in the country, it still relies on imports of key vehicle parts a nd models—to the tune of some 1.2 million cars a year. The White House has noticed, with Trump calling out the Toyota City-based automaker by name during his contentious Liberation Day speech in the Rose Garden on A pril 2. He complained about Toyota’s “one million foreign made automobiles” sold in the US.
The huge tariff hit reflects the company’s decision to hold the line on sticker prices at US dealers and production volumes at its 11 American f actories amid the start of bilateral trade negotiations between the US and Japan. Those talks started in February and it’s unclear when they will conclude with a deal.
“When it comes to tariffs, the details are still incredibly fluid,” Toyota’s Chief Executive Officer, Koji Sato, said last
week after releasing the latest financial results. “It’s difficult to take steps or measure the impact.”
Japan’s chief trade negotiator, Ryosei Akazawa, said on April 30 that one u nnamed Japanese automaker is currently losing around $1 million per hour from the tariffs, citing a calculation made by an unidentified corporate e xecutive. A Japanese government official on Friday declined to provide more s pecifics. But that rate of loss isn’t too far off the mark from the $1.2 billion hit Toyota is projecting based on 730 hours per month. Representatives for Toyota also didn’t respond to a request for comment.
Akazawa has expressed hope that an agreement could be reached in June with the next round of negotiations taking place in late May.
Most imported vehicles became subject to a 25-percent US duty on April 3, w hile most auto parts become subject to that levy as of May 3. There are some executive orders that prevent duties from doubling up, but considering the US is the biggest market for Japan’s five largest carmakers, even a moderately increase in tariffs will have an outsized impact on their bottom lines.
The Trump administration reached its first trade deal on May 8 with the UK. But the US had a $11.9 billion goods trade surplus with the UK last year, whereas it ran a $68.5 billion deficit with Japan. That may make it more difficult to secure an agreement without significant concessions b y one side.
“The hurdle is high for Japan to get auto tariffs lowered” on exports to the US, said Hiroshi Namioka, chief strategist at T&D Asset Management Co. “At
t he same time, the auto industry is too important for Japan to simply go along with what the US wants.”
Some Japanese automakers have responded to the tough new trade environment by making changes to their global manufacturing footprints.
Nissan Motor Co. halted US orders for SUVs built in Mexico while Honda Motor Co. is shifting production of the hybrid version of its Civic from Japan to the US. Due to retaliatory tariffs against the US, Mazda Motor Co. is stopping exports to Canada of one model that’s manufactured at an Alabama factory that’s a joint venture with Toyota.
“We will maintain our current operations while continuing to focus on re ducing fixed costs, all while keeping a close eye on the movements by U.S. authorities, including customs duties,” a spokesperson for Toyota said i n a statement.
Japan production pledge TOYOTA has already invested heavily to build out its US operations—including spending $13.9 billion on a new battery plant in North Carolina. But it also re mains committed to maintaining its extensive domestic production base.
Chairman Akio Toyoda has repeatedly pledged to keep making at least three million vehicles a year in Japan. Last year, the company built 3.1 million cars in its home country, about a third of its worldwide production total.
Globally, Toyota sold 10.8 million cars in 2024, with the US accounting for a little less than a quarter of those.
While half were made locally and another 30 percent came from neighboring Canada and Mexico, some 281,000
v ehicles were imported from Japan. That includes popular models such as the 4Runner mid-sized SUV, Prius hybrid and several upscale Lexus vehicles.
T he company’s best-sellers in the US—the RAV4 hybrid crossover and Corolla compact sedan—are assembled at f actories in Kentucky and Mississippi. But gas-only RAV4s are imported from Canada and the plug-in hybrid comes from Japan. Corolla models variants like the sporty GR, practical hatchback and gas-electric hybrid also carry m ade-in-Japan labels.
That exposure puts Toyota in the crosshairs of the Trump administration and means the automaker has a l ot riding on the outcome of the USJapan trade negotiations.
The carmaker has quietly pushed back on the White House’s critique, noting through a spokesman that it’s committed to spend almost $21 billion in the US just since 2020. That’s nearly double the pledge it made during Trump’s first administration—after similarly coming under attack by the US president. Toyota also said has increased direct manufacturing employment in the US to 31,000 workers, up f rom 25,000 in 2016.
One issue it faces: A severe restraint on flexibility at existing manufacturing facilities in the US, which could a ffect its ability to shift vehicles from overseas plants. Toyota’s factory in Georgetown, Kentucky—the oldest and largest of its US vehicle-assembly operations—has no slack for new models. It was running full-tilt at nearly 100 percent of its maximum capacity as of late April, according to a USb ased representative for the company. Bloomberg News
SAUDI Aramco reported a decline in profit in the first quarter as lower crude prices put pressure on the finances of the world’s biggest oil exporter.
Net income slipped 4.6 percent to 97.5 billion riyals ($26 billion) in the quarter, according to a statement Sunday. Free cash flow again failed to cover the dividend despite the total payout being lower. Operating profit, which fell 5.3 percent, beat analyst estimates compiled by Bloomberg.
The numbers are another sign of the pressures on Aramco’s balance sheet. As part of a previously announced plan, the company earlier this year decided to cut its dividend for 2025 by about a third to $85 billion. While that helps ease some of the strain on Aramco, it lowers a key source of revenue for the Saudi government whose own finances are under increasing stress.
Oil’s decline since April is likely to inflict more pain both on Aramco and the Saudi government despite the higher oil production. Over the past five weeks, Riyadh led the OPEC+ coalition through two biggerthan-scheduled supply hikes, which together with US President Donald Trump ’s trade war, briefly crashed oil futures to a four-year low below $60 a barrel in London.
The company’s total dividend for the quarter fell to $21.36
billion, compared with $31 billion in the same three months of last year. That’s primarily because Aramco decided to vastly reduce the performance-linked component of the payout after completing the distribution of the bumper profits from 2022. The lower payout will add to the strain on the Saudi budget as Crown Prince Mohammed bin Salman spends hundreds of billions of dollars to modernize the economy. That plan, which includes an entirely new city in the desert called Neom and a push into sports, has led to a widening deficit, with debt levels jumping by the most on record in the first quarter. The Saudi government and the kingdom’s main wealth fund together own over 97 percent of Aramco.
Brent contracts are trading near $64, significantly below the $92-level that the International Monetary Fund estimates the kingdom needs to balance its spending. Aramco sold its crude at an average price of $76.30 a barrel in the first quarter, compared with $83 a year earlier, according to the statement. Trump is scheduled to tour the Middle East, arriving in Riyadh Tuesday and later visiting Qatar and the United Arab Emirates. The president has called on OPEC+ to raise output and lower oil prices to control inflation and put pressure on Russia over its war in Ukraine. Bloomberg News
OPENAI and Microsoft Corp. are revising the terms of their partnership that will enable the ChatGPT maker to go public at a future date while preserving the software giant’s access to artificial intelligence technology, the Financial Times reported Sunday. Microsoft is offering to give up some of its equity stake in OpenAI’s new forprofit business in exchange for accessing new AI models developed beyond 2030, when a key contract runs out, the newspaper cited people familiar with the negotiations as saying. A reset of the contract, drafted when Microsoft invested an initial $1 billion in OpenAI six years ago, is
crucial to a restructuring of the startup in which Microsoft has poured billions more since, the FT said. It wasn’t clear whether the newspaper contacted OpenAI and Microsoft for comment on its reporting.
OpenAI is backtracking on plans to convert from a nonprofit into a more conventional moneymaking enterprise after pressure from former employees, academics and rivals, including billionaire Elon Musk. Microsoft remains the biggest holdout as it seeks ensure that any changes to OpenAI’s structure adequately protect its $13.75 billion investment, people familiar with the matter told Bloomberg last week. Bloomberg News FT: OpenAI, Microsoft in talks to reset partnership
OIL transport pipelines on the Arabian Sea in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia. PHOTOGRAPHER: SIMON DAWSON/BLOOMBERG
Banking&Finance
BIR lets miners claim refunds on peso swings
By Reine Juvierre Alberto @reine_alberto
MINING firms can claim refunds for excess excise taxes paid on mineral exports if foreign exchange rate fluctuations result in overpayment, the Bureau of Internal Revenue (BIR) clarified in a circular.
Investors seeking emerging currency bargains zero in on
Asia
toward EM assets.
By Catherine Bosley, Matthew Burgess & Maria Elena Vizcaino Bloomberg
AFTER years of coming second to popular Latin American carry trades, Asian currencies are finding their cheapness has become an asset as traders seek to capitalize on the dollar’s eroding premium status.
Currencies like South Korea’s won, the Indonesian rupiah, and the Indian rupee rank among the most undervalued in emerging markets relative to their historic average, according to data compiled by Bloomberg. Beyond attractive valuations, fresh economic stimulus in China and signs of progress in US-Asia trade negotiations are adding to the region’s allure.
The potential for Asian currencies to strengthen was on full display earlier this month, when a sharp surge in the Taiwanese dollar spread across the region. That helped the cohort catch up with their developed and emerging-market peers, which had been outperforming following the dollar’s decline after US President Donald Trump’s early-April tariff announcement.
“On a fundamental basis, it’s been cheap for a long time,” said Claudia Calich, head of EM debt at M&G Investment Management, adding that investors including herself had been underinvested in Asia thanks to higher carry opportunities in Latin America. “It’s finally started correcting a little, but even then it’s still relatively cheap.”
Korea’s won, which plummeted last month in response to Trump’s barrage of “reciprocal” tariffs, is a prime candidate for further gains, according to Goldman Sachs Group Inc. and Barclays Plc.
Goldman strategists—who looked at the extent of undervaluation, possible conversion of dollar assets, and the role of the yuan—for their picks, also expect Malaysia’s ringgit and the South African rand to appreciate. Barclays analysts see significant scope for gains in the Singapore and Taiwanese dollars too.
Sentiment toward Asia’s depressed currencies has already improved, as investor sentiment toward concerns about Trump’s policies tarnish the appeal of the dollar and trade-deal hopes improve appetite
against the US dollar recently.
According to the circular, taxpayers can file for a refund if the excise tax paid initially computed using the spot foreign exchange rate—a requirement for export or transport permits—is higher than the final tax based on the actual rate at the time of shipment or final sale.
The peso closed at P55.84 to the United States dollar on May 1, its strongest in seven months when it hit P55.69 to the greenback on September 20 last year. The peso recently closed at P55.51 per dollar last Friday.
“The remedy available to taxpayers in case of excess excise tax payments is to file a claim for refund pursuant to Section 229 of the National
Internal Revenue Code (NIRC) of 1997, as amended,” the circular said. Official reference rates published by the Bankers Association of the Philippines (BAP) shall be used for all foreign exchange rates used in excise tax computations on exported mineral products.
As such, the provisional excise tax, required when applying for an export permit, shall be calculated using the spot rate published by the BAP on the date the permit is filed.
The final excise tax, meanwhile, must be based on the weighted average exchange rate published by the BAP as of the date of shipment, which is defined as the date when the bill of lading is issued.
As for the transactions where mineral products are sold to domestic entities, such as local corporations or resident foreign corporations operating mineral processing plants, the BIR said the provisional excise tax must also be based on BAP’s spot rate as of the date of the transport permit application. The BAP’s weighted average rate must be used for the computation of the final excise tax as of the date of the final sales invoice.
According to the BIR, the final invoice for exported mineral products must be issued within 90 days from the date of actual exportation based on the determined actual market value.
Taxpayers must file their refund claims within two years from the date of payment, subject to the requirements under existing revenue regulations. Claims should be supported by documentation such as export permits, bills of lading, assay reports and final sales invoices. The BIR Commissioner will then process and decide the refund within 180 days of receiving complete supporting documents. If the claim is denied, the BIR must state the legal or factual basis for the denial. Failure of the BIR to process the application within the prescribed period may result in penalties under Section 269 of the National Internal Revenue Code.
BSP seeks comments on guidelines in Islamic banking
TBy Cai U. Ordinario @caiordinario
HE Bangko Sentral ng Pilipinas (BSP) is seeking comments on its proposed amendments to prudential regulatory guidelines in Islamic banking.
Stakeholders may provide their comments to the Islamic Banking Supervision Group until May 28.
The proposed amendments include the establishment of Islamic Banks (IBs) and Islamic Banking Units (IBUs), particularly on the minimum capitalization requirements.
“The minimum capitalization requirements for a UB (universal bank) shall apply to [a] full-fledged IB. A conventional bank which complies with the applicable capital requirements, may be allowed to operate an IBU, subject to compliance with the minimum requirements thereon,” the BSP draft circular read.
A Bloomberg index of Asian currencies rose the most in almost a week on Monday, as the yuan and the Taiwanese dollar advanced after the US and China reported “substantial progress” in their trade talks. While details were sparse, the progress added to signs that the tariff uncertainty may have peaked, helping the gauge gain more than 3 percent since its low in April.
Global funds have been snapping up local currency bonds in Indonesia, Thailand and South Korea this month, according to data compiled by Bloomberg. Selling pressure on the greenback has been so strong that Hong Kong’s monetary authority was forced to intervene to maintain its peg.
While many market watchers expect a degree of appreciation in Asian currencies, whether the gains will last beyond catch-up moves remains to be seen.
The relative stability of the yuan as a managed currency can be a double-edged sword in that it can reduce volatile swings across Asia but also cap rapid gains. Beijing has signaled that it’s not ready to let the yuan strengthen dramatically against the US currency.
The dollar has regained some ground last week as Federal Reserve Chair Jerome Powell signaled the central bank is not in a hurry to adjust interest rates. That’s led to many Asian currencies paring some of their earlier gains.
“I don’t think we’re necessarily in the global growth environment now where Asian currencies are going to meaningfully outperform,” said Grant Webster, co-head of EM sovereign debt and currencies at Ninety One in London.
Still, the dominance of the dollar has been so ingrained in investors’ mindset that a dent in that perception has been enough to create wild swings. Investors have no option but to prepare for future episodes like the Taiwanese dollar’s epic surge.
When scouting for potential winners, “the focus is on the ones that haven’t” gained much yet, said Dominic Schnider, head of global FX and commodities at the chief investment office of UBS Group AG’s wealth management unit. In emerging Asia, “some of these currencies just from a valuation angle do look cheap.”
Other amendments to the guide-
lines include the licensing of IBUs. The central bank proposes that applications for authority to establish IBUs shall be a “Type A” license as defined in Section 111 of the Manual of Regulations for Banks (MORB).
The MORB is the primary source of regulations governing entities supervised by the BSP. It provides the rules and policy issuances that implement the broader provisions of Republic Act No. 8791, also known as the General Banking Law of 2000, as well as other pertinent banking laws.
Under Section 111, “Type A” refers to applications for licenses and/or authorities where compliance with the defined prudential requirements/criteria on licensing as described in this Section is a precondition for applicants to be considered eligible.
“The opening of a new branch or branch-lite unit for the IBU operations shall be subject to the regula-
tions provided in Sec. 10591 of the MORB, which shall be subject to the payment of the prescribed processing fees based on the bank’s category.
However, opening of IBU in existing branches or branch-lite units (BLUs) shall not be subject to any fee,” the BSP draft read.
The draft also provided that banks are required to notify the appropriate supervising department of the Bangko Sentral on the opening of IBU in their existing branches or Branch Lite Units at least 10 banking days prior to the opening thereof.
The BSP also said the establishment of an IBU shall also be automatically revoked if the unit does not commence business within a year after receipt of a notice from the Monetary Board.
Earlier, data from the results of the survey conducted by BSP and the Asian Development Bank (ADB) showed that 78 percent of respondents expressed interest in Islamic fi-
Dollar soars, Treasuries dip as US-China tensions ease
By Alice Gledhill & Greg Ritchie Bloomberg
THE dollar soared and Treasuries fell as the trade war between China and the US eased, stoking appetite for risk assets.
A gauge of dollar strength rose as much as 1 percent as the two nations agreed to temporarily lower some tariffs for 90 days. US Treasuries fell, sending the two-year yield up as much as 10 basis points to 3.99 percent as traders pared bets on interest-rate cuts from the Federal Reserve.
It’s a pivot for markets, which have been roiled by US President Donald Trump’s attempts to rewire global trade. He targeted China with particularly punitive tariffs, sparking a trade war and fears of a recession.
“This kind of coordinated tariff relief, even if temporary, changes the investment landscape,” said Nigel Green, chief executive officer of deVere Group. “It clears a path for businesses to recalibrate their outlook, and for markets to rally on something more than just hope.”
Traditional haven assets as the Japanese yen and the Swiss franc plunged, as did European government bonds—the two-year German yield rose 11 basis points to 1.90 percent. Stocks rallied on both sides of the Atlantic.
After weekend talks in Geneva, the US and China issued a joint statement indicating that they would temporarily lower tariffs on each other’s products, buying three more months to resolve their differences. The combined 145 percent US levies on most Chinese imports will be reduced to 30 percent, while the 125 percent Chinese duties on US goods will drop to 10 percent.
“These are cuts in tariffs which are much deeper than what was expected,” said David Kruk, head of trading at La Financiere de L’Echiquier. “For those who were bearish since the tariffs announcement, this is a real pain trade. There is no more dip to buy so if you were not
invested, it’s really hard to go in now.”
The euro also fell against the greenback following the announcement. The common currency, which had emerged as a haven amid the rout in US assets, fell as much as 1.5 percent to $1.1084, putting it on track for its worst day this year.
“This is positive for G-10 risk especially the Antipodean currencies and the US dollar,” said Valentin Marinov, head of G10 FX strategy at Credit Agricole SA. “Easing US growth fears should further help restore market confidence in the USD-denominated assets.”
Fewer rate cuts
AS concerns over the economic outlook ebbed, traders rushed to pare wagers on the extent of interest-rate cuts from major central banks this year. Swaps tied to the Fed meetings now favor a quarterpoint reduction in September, compared to as soon as July last week.
For the European Central Bank, traders are betting on fewer than 50 basis points of cuts for the remainder of the year, versus more than 60 basis points at Friday’s close. Roughly the same amount of easing is priced for the Bank of England.
“We’d be inclined to follow this recent hawkish momentum in US rates,” said Jordan Rochester, head of macro strategy for EMEA at Mizuho International Plc., who expects no rate cuts from the Fed this year. “We are biased to selloffs in the long end.”
Still, for others the relief for US assets may prove temporary. Even before Monday’s announcement, investors were warning that the US administration’s aggressive trade policies exposed the risk of significant overweights to the region, meaning outflows would likely endure even if trade tensions dissipated.
“We believe concerns around the US hard-data outlook persist, and potential asset allocation shifts away from US assets remain medium- to longerterm headwinds for the greenback,” said Mohamad Al-Saraf, an analyst at Danske Bank.
nance. According to the lenders, this indicates market curiosity about the potential benefits of Islamic finance compared to conventional banks. The interest in Islamic finance was the highest in the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) and Metro Manila that, the report noted, could be target areas to attract “early adopters” in Islamic finance.
“The motivations for interest in Islamic finance vary between respondents from BARMM, who are more focused on savings and adherence to Islamic principles, and those respondents from Mindanao, who are intrigued mainly by the processes and benefits of Islamic finance,” the report stated.
In terms of services, 79 percent of those who are interested in Islamic finance are keen on savings followed by 24 percent for business loans and 16 percent for health or medical insurance.
4 Pillars of financial success
DO you want to achieve wealth? Are you looking for ways to become rich? Then let me tell you now that there are a lot of ways to become a millionaire; and it’s up to you to choose which path to take. But before you pursue any of them, you have to first understand the basic tenets that people who achieve wealth believe in. I call them the four pillars of financial success.
Mindset
WEALTH always begins in the mind. And if you want to become rich, then you have to think like how they think. Particularly, you need to have a growth mindset. Your mindset determines your beliefs, which dictate your behavior toward different situations and activities. Your behavior and actions then, ultimately, produce your results. Hard work, grit, discipline, persistence—these are just some of the things that help a person succeed. However, these behaviors are often a result of having a growth mindset.
Commitment
FINANCIAL freedom is a long journey. It requires years of focus and hard work. Understand and accept that building wealth will take time, and it will not be easy. Commit to achieving your goals. Most do not achieve wealth because they are instead committed to their personal comfort. Financial success requires a decision that you want it. And you’re willing to dedicate your time, invest your money, and make an effort to achieve it.
Education
A LOT of people don’t know how to invest. I’m not sur -
prised because investing is not something we’re taught in school. But what’s surprising to me is most don’t take the initiative to learn about it. We live in a fast-changing world. And the best way to keep up is to continuously educate yourself. Be excited about learning, and you’ll discover a wealth of opportunities around you. As a famous quote by American entrepreneur, author, and motivational speaker Jim Rohn says: “Formal education will make you a living; self-education will make you a fortune.”
Action
THE last pillar of financial success is also the most important. Having a growth mindset, making a personal commitment, and doing selfeducation should eventually lead you to take action. I’ve met too many eager learners who don’t apply what they know because of fear that they’d fail. Some would try but give up too soon before achieving any tangible results. Failure is part of success. You will make mistakes. You will lose money. And that’s okay. Fail forward by learning from your mistakes. And apply what you learned by trying again.
Fitz Villafuerte is a Registered Financial Planner of RFP Philippines. The views he expressed in this written piece do not necessarily reflect those of the BusinessMirror. To learn more about personal finance, join the 111th batch of RFP program this May 2025. Please e-mail info@rfp.ph for details.
Fitz Gerard Villafuerte
SOUTH Korean 50,000 won banknotes prepared at the Bank of Korea headquarters. PHOTOGRAPHER: SEONGJOON CHO/BLOOMBERG
Show BusinessMirror
The enduring friendship of Kiray and Kirst
TWO strangers who first met on the set of an independent festival movie have since become the best of friends. It was in 2019 when then-rising comedienne Kiray Celis crossed paths with former model-turned-actor Kirst Viray, when both were cast in Zigcarlo Dulay’s Akin ang Korona.
“We hit it off right away. Kiray was very friendly on the set, and I thought that she was very funny, too!” recalled Kirst, who felt at ease right away despite being a newbie in the acting business at the time.
“We would share meals together, and talk about anything under the sun,” Kiray shared.
“My initial impression of Kirst was that he is a very good-looking man who didn’t act like he knew he was gwapo. He also had a very toned physique and I observed that many eyes were stealing glances at him from time to time.”
When the shoot concluded, Kirst and Kiray remained in touch and got even closer. They would go out with their small circle of friends and they’d also invite their respective partners from time to time to join them.
Aside from being a new actor at that time, Kirst also put up his first restaurant together with a few investor-friends. He named it Mangan-tila and it was supported by many of his model friends and showbiz colleagues. Kiray was among the many regular patrons of Mangan-tila and she’d invite her other friends to dine at Kirst’s restaurant, too.
After the pandemic, Kiray and her boyfriend Stephan Estopia decided to venture into their own business after trying live-selling and finding it very lucrative. Kirst was all out in supporting Kiray’s new
venture that involved manufacturing, marketing and selling beauty and wellness products.
“I am very appreciative of Kirst’s consistent support all these years. He would go out of his way to inform his friends about our products and he’d make himself present in almost all of our company’s major events and activities,“ volunteered Kiray.
So when Kiray’s longtime lover proposed marriage to her recently, Kirst was the happiest for his dear friend. “Kiray deserves a good man like Tepan [Stephan’s moniker]. They are such a wonderful couple whose minds and hearts are always in sync, especially when it comes to business and planning for the future. I am very excited that my friend will get married soon,” beamed Kirst, who told us that he was already informed that he’d be part of the wedding entourage. Kirst recently expanded his business interests to include El Fuego, an all-in-one hostel, bar and restaurant that has gained popularity in the surf town of La Union. “Business is doing good especially during these summer months. I’m happy to share that we will soon have a branch in Boracay which we have named El Fuego Villas, Bar and Restaurant.”
While shuttling back and forth to his two beachfront destinations, Kirst has also found time to work on the Buy Bust 2 series for Netflix. “I won’t say no to work. I am an actor-businessman so I welcome every opportunity to earn and sharpen my skills in both fields.”
While starting preparations for her wedding day, Kiray is also sharpening her business skills and expanding her product line that now includes the DAY-LI brand of supplements, which comes in four variants: Apple Cider, Glutathione, Collagen, and Sodium Ascorbate with Zinc. This is an aggressive follow-up to the Hello Bloom and Hot Babe health and beauty drinks that she launched earlier this year.
“I am happy for Kiray and I admire her guts and her business strategies,” said Kirst, who was present in Kiray’s recent product launch we attended. When his friend Kiray heard what Kirst told us, she immediately remarked, “We learn form each other. We support each other. We have each other’s back. That’s what real friends are!”
All the best to you, Kirst and Kiray. May your respective businesses flourish. n
‘Lolong’ cast reflects on motherhood connection
IN GMA Network’s primetime blockbuster Lolong: Pangil ng Maynila Ruru Madrid portrays Lolong, whose formidable character is fueled not only by survival but also by a selfless drive to help others. His unwavering grit empowers him to overcome relentless challenges as he ventures into the heart of Manila. Along his journey are characters who either provide solace and aid, or cast long shadows of misery and challenge. Just as they add depth to Lolong’s journey and reveal different facets of his strength, the artists behind these characters carry personal stories shaped by the subtle yet strong influence of their mothers. Some of them are mothers themselves who juggle the demands of their profession with the rewarding yet challenging role of motherhood. Here are Ruru, Jean Garcia, Elle Villanueva, Yasser Marta, Vaness del Moral, and Tessie Tomas, exploring the impact of their own mothers or their role as mothers on who they are today:
WHAT QUALITIES OF YOUR MOTHER DO YOU
ADMIRE THE MOST AND TRY TO EMULATE?
Ruru: Ang best quality na meron ang nanay ko na tina-try kong gayahin is ‘yung pagiging hardworking niya. Kahit na pagod at puyat na siya, talagang hindi niya iisipin ‘yun para lang may makain kami sa araw-araw. Hindi na baleng hindi siya makakain, basta makakain ang mga anak niya. ‘Yun ‘yung natutunan ko sa kanya—’yung pagmamahal sa pamilya, mga kaibigan, at mga mahal mo sa buhay—ipaparamdam mo lagi sa kanila kahit sa maliliit na bagay. And ‘yun din ituturo ko sa magiging future na anak ko, eventually.
Elle: ‘Yung pagiging strong niya because she raised me alone. She’s a single mother, so I admire na lahat ginagawa niya para sa’kin. I want to be like her in the future. I want to be able to raise someone in the future na responsable at may takot sa Diyos. Gusto kong maging independent din and maging powerful na babae.
Yasser: Sobra siya magsakripisyo para sa aming mga anak niya. Iniwan niya ‘yung tatay ko para sa amin. Mas inuuna niya kaming mga anak niya kaysa sa sarili niya. Masipag talaga si mama. Gagawin niya lahat para sa mga anak niya.
WHAT WAS THE BEST PIECE OF ADVICE YOUR MOTHER GAVE YOU?
Ruru: Ang advice na naibigay niya sa akin ay ‘wag akong tumigil mangarap hindi lang para sa sarili ko kundi para sa mga taong mahal ko at gusto ko pa matulungan. Hindi magiging madali ang pagdadaanan ko, pero lagi kong tinatandaan na nandito sila, nakasuporta sa akin.
Elle: She told me ever since to try everything that I want to try, to experience everything that I want to experience, because experience is the best teacher. Ever since, kahit natatakot ako, kahit mahiyain ako, tina-try ko pa rin ‘yung best ko para ibigay lahat ng kaya ko, para sa gusto ko at sa dream ko. Tinatanggal ko ‘yung mga hindrance or ‘yung challenges. Dinadala ko yung advice na ‘yun since I was younger pa. I think that’s why I’m here, because of that advice. Yasser: Para sa ‘kin, hindi advice, kasi hindi naman maadvice nanay ko, parang hinahayaan niya lang ako mag-isa.
Pero sa akin, ang masasabi ko lang, si mama ang nagdala sa ’kin dito. Kaya kung ano man ang narating ko ngayon dito,
dahil ‘yun sa nanay ko.
WHAT IS THE MOST FULFILLING PART OF BEING A MOTHER? Jean: ‘Yung nakikita mo na maayos ang mga anak mo, na nagtatrabaho ka at nabibigay mo sa kanila ‘yung mga pangangailangan nila, hindi lang material, pati education. I’m a single mother at kahit wala akong partner sa buhay, I can say that I am fulfilled because nand’yan ang aking anak, kasama ko. Kahit magkaroon sila ng family in the future, nand’yan pa rin ako, hindi ako mawawala. ‘Yan lang naman ang kayamanan ng isang ina.
Tessie: The best or fulfilling part of being a mother is having giving birth to someone na sana ay maging mabait na tao. Ang nanay kasi ang nagdadala ng sanggol sa kanyang sinapupunan sa loob ng siyam na buwan at siyempre, malaking hirap para ilabas mo ‘yung bata, at mapalaki mo ng tama at maging isang mabuting tao sa pamilya at sa lipunan. Ang fulfilling part sa ’kin, para sa only child ko, nakikita kong successful siya matapos siyang paaralin. Naging successful siya sa kanyang chosen career. I think it’s very important na mapatapos mo ng pag-aaral ang anak mo, at pangalawa, maging successful sa kanyang karera, sa kanyang trabaho.
Vaness: Yung kapag nakikita mo ‘yung progress ng anak mo, ‘yung milestones niya, ‘yung little by little, natuturuan mo siya kung ano ‘yung tama at kung ano ‘yung mali.
WHAT IS THE BIGGEST CHALLENGE OF BEING
A MOTHER AND HOW DO YOU OVERCOME IT?
Jean: Yung mapalaking maayos ang mga bata at mabigyan sila ng tamang aral—‘yung may takot at faith
sa Panginoon, ’yung maging mabuting tao sila, marunong rumespeto sa kapwa at palaging bukas ang puso para tumulong sa kapwa, ‘yung maituro kung ano ang turo sa Church at turo sa atin ng Panginoon—‘yun siguro ang pinaka- challenging lalo na ngayong iba na ang generation. Ang importante lang naman siguro sa pagiging ina is ‘yung communication with each other and ‘yung pagiging open mo sa kanila. Tessie: Sa anak ko, ang isa sa biggest challenge at kumbaga hapdi sa puso niya ay yung pagkakahiwalay namin ng daddy niya. Kasi nga sabi nya, “Hindi mo lang alam, mommy, kung gaano kalungkot ang broken home.” Nagkakaguilty conscience ka pagka ganyan. Kasi ngayon, ang daming problema ng mga bata. As a mother, it is important to know how you cope with that and how you try to help. Kaya naman, kailangan ibigay mo pa rin ang suporta mo.
Vaness: Hindi ako pasensyosong tao pero pagdating sa anak ko, kung kaya ko pang habaan ‘yung pasensya ko, hahabaan ko. Minsan may moments na ‘di mo na kaya, susukuan mo na lang. Ang gagawin ko minsan tataguan ko siya para hindi ko awayin o sabayan ‘yung tantrums niya. Didistansya ako sa kanya para mapakalma ko rin ‘yung sarili ko tapos mag-reflect kung ano ba ‘yung nararamdaman niya para maramdaman ko kung saan siya nanggagaling.
Shaped by their mothers’ influence, and to some by their own experiences as mothers, these stars are true inspirations to hundreds of thousands of viewers globally. Lolong: Pangil ng Maynila airs weeknights after 24 Oras on GMA Prime. Global Pinoys can also watch the program via GMA Pinoy TV.
GSIS kicks off anniversary with new Baguio branch
THE Government Service Insurance System (GSIS) officially opened on May 2, 2025, its new Baguio branch building, significantly upgrading facilities and services for its members and pensioners in the region. The inauguration also marks the start of the GSIS’s 88th anniversary celebration, themed “GSIS at 88: Basta Sama-Sama, Tuloy-Tuloy ang Ginhawa,” and coincides with the observance of Ease of Doing Business Month, both commemorated in May.
The newly constructed office is located within the Philippine National Railways Compound on Governor Pack Road.
GSIS President and General Manager Wick Veloso led the opening ceremony. He was joined by Baguio City Rep. Mark Go and Mayor Benjamin Magalong, both of whom voiced strong support for the pension fund’s efforts to improve service delivery for government employees and retirees, a key theme for the Ease of Doing Business Month.
The new building provides a major improvement for the branch. Previously, GSIS Baguio operated from a rented space on Kisad Road, with operations divided across several floors, hindering efficiency. Despite those constraints, the branch served 40,253 members and pensioners, and 162 government agencies.
“Having our own office in Baguio is more than a logistical convenience. It is a
declaration of commitment to our members who have dedicated their lives to public service, and commitment to this region, whose growth and development GSIS proudly supports,” Veloso said. “As we dedicate this new branch, I encourage all of you to build more than just records and files here. Build relationships, build trust, and build a legacy of service worthy of the members who walk through these doors.”
Constructed on a 3,132-square-meter lot, the new two-story GSIS Baguio office offers 1,400 square meters of modern space. It includes a spacious members’ lounge, an in-house clinic, dedicated rooms for various client transactions, and ample parking. The location, near Burnham Park, the Department of Education building, commercial establishments, and a P2P terminal, enhances accessibility for clients.
The branch now features a Digital and Ease of Doing Business Center within the members’ lounge. This allows clients to use tablets for convenient account access and transactions, aligning with GSIS’s broader strategy to integrate digital solutions nationwide and improve the ease of doing business.
“Ang amin pong parating naiisip sa paggawa ng Ease of Doing Business o pagbigay ng ginhawa sa ating mga miyembro ay ang paggamit ng teknolohiya,” Veloso shared during a media interview. “Going forward, as we improve our IT footprint, the improvement will include artificial intelligence to ensure that we can provide immediate answers to perennial questions and address those that may be done by the use of AI and technology, para mas mapabilis po ang ating serbisyo.”
Multi-sectoral group come together to Strengthen Access to Immunization
TO mark the 2025 World Immunization Week (WIW), health leaders from the government, medical societies, patient groups, and the biopharmaceutical sector gathered to reaffirm their collective commitment to strengthening access to life-course immunization in a Health Connect media forum.
The Health Connect forum anchored on the Department of Health’s (DOH) call, “Magpabakuna: Bakuna sa lahat, kayang-kaya!” The forum, organized by the Pharmaceutical and Healthcare Association of the Philippines (PHAP), Philippine Medical Association (PMA), Philippine Foundation for Vaccination (PFV) and the Philippine Alliance of Patient Organizations (PAPO), highlighted the importance of making vaccines accessible to Filipinos of all ages.
PHAP Executive Director Teodoro Padilla opened the event, emphasizing the power of collaboration, “Over the last 50 years, the Expanded Program on Immunization (EPI) has saved 154 million lives. Through continued partnership, we can ensure that every Filipino is protected, leaving no one behind.”
The WHO’s EPI program has been a cornerstone of public health, saving lives and preventing outbreaks. However, collaborative efforts are needed to overcome challenges and increase access to life-saving vaccines, especially for vulnerable populations.
Dr. Carmina Vera, Medical Officer IV from the DOH, shared that the Philippines made progress by reducing the number of unvaccinated children, falling from 5th place in 2021 to out of the top 20 in 2023. “Despite these achievements, we’re still working
toward our 95 percent target, focusing on improving access, strengthening local programs, and addressing gaps to ensure that all age groups are protected,” she said.
Health Promotion Bureau Director IV Maria Kristina Marasigan emphasized that vaccination is a key pillar of the 8-Point Action Agenda under Universal Health Care. “We must bring vaccines to the people, not wait for them to come to us,” she said. “It’s essential for people to understand the benefits of vaccines and trust credible sources like doctors.” She also noted that strengthening disease awareness is a priority for the
Health Promotion Bureau. Marasigan highlighted the DOH’s nationwide campaign, launched in Calbayog, Samar, which aims to vaccinate over 31,000 individuals from April 24 to 30.
Building on this, Dr. Anna Ong-Lim, Vice President of PFV, emphasized that immunization is a long-term, strategic investment. “Every 10 seconds, vaccination saves a life. We need to recognize that immunization isn’t just for children—it’s for everyone at every stage of life. What we need now is a concerted effort, with the right information, to bridge gaps and make immunization accessible to all,” she stated.
IN
a small corner of the Cordilleras, nestled among the highlands of Benguet and Mountain Province, hope found its way to places where roads are treacherous, resources are scarce, and education is a privilege rather than a guarantee.
Representatives of leading home improvement retailer MR.DIY once again embarked on an eight-hour journey uphill to bring joy to children through its Acts of Kindness Outreach Program.
The route was nothing short of challenging, with narrow, bumpy roads weaving through towering mountains and steep ravines. Before reaching the actual site, the team braved a 15-minute walk and crossed a hanging bridge, adding a touch of adventure to the journey. The dry, hot weather only intensified the trek, with the sun’s relentless heat bearing down on the team as they pushed forward.
This year’s outreach focused on two remote schools— Asin Elementary School in Tuba, Benguet, and Cupotan Primary School in Bauko, Mountain Province. These communities are so far-flung that donations often take weeks to reach their intended beneficiaries.
But for MR.DIY, bringing kindness and essential supplies to these children was worth every mile.
Upon arriving, representatives of MR.DIY were greeted with a warmth that erased every trace of exhaustion from the long trip. Bright, curious smiles lit up the faces of the children as they eagerly received much-needed school and hygiene supplies. For many of these learners, such items are a rare luxury in a place where poverty and isolation create barriers to education.
This year’s Acts of Kindness initiative touched the lives of 70 learners from Asin Elementary School and 60 learners from Cupotan Primary School. It wasn’t just about the donations, though—it was about building connections, creating moments of shared joy, and reminding these children that they are not forgotten. What sets MR.DIY’s Acts of Kindness Outreach Program apart is its emphasis on sustainable impact. Rather than simply providing short-term relief, the initiative seeks to equip young learners with the tools to succeed in school and in life.
FOR over 200 years, Johnnie Walker has pushed boundaries to establish itself as the world’s most popular Scotch whisky brand. Unveiling its newest Greatest Of All Time (G.O.A.T.) campaign, Johnnie Walker proudly celebrates this legacy built on celebrating how breaking barriers defines greatness.
The campaign invites consumers to explore what makes Johnnie Walker the #1 whisky of all time while showcasing its greatness through creative collaborations with artists and personalities who are G.O.A.T icons in their respective fields.
This stellar lineup of icons include Filipino rock legends Urbandub, stand-up comedian Red Ollero, drag superstar Marina Summers, hip-hop dance sibling duo Angelica and MJ Arda, and renowned fashion stylist Liz Uy. These trailblazers embody the years of hard work and creativity that define the spirit of Johnnie Walker.
“We meticulously selected these G.O.A.T icons not only to highlight their remarkable talents, but because they embody the same commitment and passion for their craft that reflect the same spirit of Johnnie Walker,” said Merell Beltran, Diageo Marketing Manager for Culture and Advocacy.
Urbandub, an internationally acclaimed indie rock band formed in 2000, rose from its humble beginnings in Cebu to become a force in the local music industry becoming the first indie rock band in the country to release albums nationwide under a major label. Meanwhile, stand-up comedian Red Ollero has shone a global spotlight on Filipino comedy with his Netflix special, “Red Ollero: Mabuhay Is A Lie” that has been
“This project stands as a testament to MR.DIY’s enduring commitment to education and the welfare of children in underserved areas,” shared Charles Salecina, Head of Retail Marketing of MR.DIY Philippines. “Through this initiative, we aim to build stronger communities and inspire our young learners to dream big.”
For Analiza Pelwa, MR.DIY’s CSR partner since 2021, the Acts of Kindness Outreach is deeply personal. Having grown up in the Cordillera Region herself, she intimately understands the struggles faced by children in these areas.
“As someone who grew up in the Cordillera Region, I understand the unique challenges children in these areas face when it comes to education. Partnering with MR.DIY for these outreach programs has been incredibly fulfilling, as we both share the same vision—that poverty should never be a hindrance to learning. MR.DIY’s unwavering commitment to this cause inspires me to continue our efforts to provide support where it’s needed most,” said Pelwa. The outreach program wouldn’t have been possible without the support of the PNP’s Police Community Outreach Program, which provided logistical assistance and helped ensure the safety of participants along the journey. Together, MR.DIY, the PNP, and local partners demonstrated that collective action is key to addressing the needs of marginalized communities.
For MR.DIY, kindness isn’t just about donating supplies—it’s about forging partnerships, listening to communities, and ensuring that help goes where it is needed most.
As MR.DIY continues to grow with 752 stores to date, its Acts of Kindness Outreach Program reflects the company’s mission to serve not just customers but communities, no matter how remote. The initiative stands as proof that kindness knows no distance, and that every child—regardless of where they live—deserves the tools to dream and thrive.
To learn more about MR.DIY’s Acts of Kindness CSR Program, visit MR.DIY’s website or follow them on Facebook, Instagram, and TikTok for updates.
watched across more than 100 countries through the streaming platform.
Drag superstar Marina Summers, runner-up on season 1 of Drag Race Philippines and a contestant on RuPaul’s Drag Race: UK vs The World season 2, has made a profound cultural impact on the country’s LGBTQ+ community, elevating Filipino drag to a celebrated art form.
Award-winning dancers, choreographers, and coaches Angelica and MJ Arda are the founders of A-Team and have showcased Philippine dance talent on the global stage through numerous international competitions. Completing the roster of greats is Liz Uy, renowned style icon whose influence and expertise has established her as one of the most sought out celebrity stylists today.
Bringing greatness within reach, Johnnie Walker took over Manila’s hottest bars with G.O.A.T.
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candidates a few questions before they walked on the Miss Universe Stage. DJ JhaiHo asked the ladies how they prepared for the preliminary interview or if they were nervous, especially since their answers will determine their fate on the awards night. “Well, actually, nandoon talaga yung kaba pag akyat mo kasi [the nervousness is really there when you go up because] you’re facing a lot of big people,” Miss Bulacan exclaimed. “Pero the good thing about it is it’s about yourself, so kapag kilala mo yung sarili mo [if you know yourself], you know how to answer it very well,” she added.
In addition, Miss Albay said that she prepared for the interview by listening to classic music like The Beatles. “I was listening to music kanina, yung mga old fashioned music, yung The Beatles ganyan, because it helps me keep sane.” Having been a reliable, comprehensive digital platform for the past years and being awarded the Best Reliability in Online Gaming this year, the phenomenal ladies were asked about their thoughts on BingoPlus supporting the Filipina women and their advocacies through pageants like the Miss Universe Philippines.
“It’s about feeling supported, and I think it’s important for us Filipinos because we have the bayanihan spirit.” Miss Angeles City highlighted, “Having that right support, the cheers and everything, just helps us feel proud and confident as well.” Miss Angeles continued. Alternatively, Miss Iloilo proclaimed a more realistic answer, saying, “In the world we live in today, money is crucial indeed to fund things that matter to us.” “Lahat kami dito, mga kababaihan that stand before you today, have each of our advocacies, or things that we fight for in life. BingoPlus helping Miss Universe Philippines to give us these voices to share with
you all means so much to us talaga.” Subsequently, during the event proper, Miss Universe delegates wore the official swimsuit sponsored by BingoPlus. Each of the Miss Universe representatives flaunted their swimsuits with such elegance and grace, followed by a showcase of their evening gowns while being serenaded by various artists like Kane Gabriel, Sam Hashimnoto, and Alvaro Flores. The panel of judges for that night’s activities was critiqued by esteemed personalities like Rissa Mananquil-Trillo, editor in chief of Allure Philippines; Bran Ferrer Reluao, chairperson of the Miss Universe Organization; and president of BingoPlus Rafael Jasper Vicencio. The results of the swimsuit and evening
GSIS President and General Manager Wick Veloso unveils the building marker of the newly constructed GSIS Baguio Branch on May 2, located within the Philippine National Railways Compound, Baguio City. The ceremony marks a milestone in GSIS’s 88th anniversary celebration and signals a significant upgrade in services and facilities for over 40,000 members and pensioners in the region.
Smiles and sunshine filled the day as MR.DIY, in partnership with the Police Community Outreach Program and Ms. Analiza Pelwa, brought joy to young learners. A total of 70 school children from Asin Elementary School participated in the AOK Outreach Program held on April 11.
Health Connect Media Forum hosted by journalist and health advocate Ms. Jing Castañeda, together with health luminaries from the DOH, the Ministry of Health-BARMM, PFV, PMA, and PAPO.
Pope Leo XIV calls for peace in Ukraine and Gaza during first Sunday blessing, emphasizes unity in divided Church
By Nicole Winfield & Giovanna Dell’orto The Associated Press
VATICAN CITY—Pope Leo XIV called for a genuine and just peace in Ukraine and an immediate ceasefire in Gaza, in his first Sunday noon blessing as pontiff that featured some symbolic gestures suggesting a message of unity in a polarized Catholic Church.
“I, too, address the world’s great powers by repeating the ever-present call ‘never again war,’” Leo said from the loggia of St. Peter’s Basilica to an estimated 100,000 people below.
It was the first time that Leo had returned to the loggia since he first appeared to the world on Thursday evening following his remarkable election as pope, the first from the United States. Then, too, he delivered a message of peace.
Leo was picking up the papal tradition of offering a Sunday blessing at noon, but with some twists. Whereas his predecessors delivered the greeting from the studio window of the Apostolic Palace, off to the side of the piazza, Leo went to the very center of the square and the heart of the church.
Part of that was logistics: He didn’t have access to the papal apartments in the palace until later Sunday, when they were unsealed for the first time since Pope Francis’ death.
conservatives.
Aldo Maria Valli, a conservative Italian journalist who writes a popular blog, said he appreciated these gestures and urged traditionalists to give Leo a chance, saying he liked a lot of what he has seen so far.
“Don’t shoot Leo,” he wrote.
On Sunday Leo wore the simple white cassock of the papacy and had reverted back to wearing his silver pectoral cross. He had worn a more ornate one that contains the relics of St. Augustine and his mother, St. Monica, on Thursday night that had been given to him by his Augustinian religious order.
‘Beloved Ukrainian people’ LEO quoted Pope Francis in denouncing the number of conflicts ravaging the globe today, saying it was a “third world war in pieces.”
“I carry in my heart the sufferings of the beloved Ukrainian people,” he said. “Let everything possible be done to achieve genuine, just and lasting peace as soon as possible.”
a mix of progressive and tradition-minded popes: Pope Paul VI, who closed out the modernizing reforms of the 1960s Second Vatican Council, and Popes Pius XII and Benedict XVI, on the more conservative end of the spectrum.
He celebrated the intimate Mass with the head of his Augustinian order and his brother, John, in the pews. In his homily, he recalled that Sunday was also the day that the Catholic Church celebrates religious vocations, and noted that the issue of declining vocations had been raised by cardinals in their pre-conclave discussions before his election.
He followed up on Saturday by wearing the brocaded papal stole during a visit to a Marian sanctuary south of Rome. There, he knelt in reverence at the altar and greeted the crowd surrounded by priests in long cassocks usually favored by
Leo also offered a novelty by singing the Regina Caeli prayer, a Latin prayer said during the Easter season which recent popes would usually just recite and harked back to the old Latin Mass of the past. Traditionalists and conservatives, many of whom felt alienated by Pope Francis’ reforms and loose liturgical style, have been looking for gestures and substance from Leo in hopes he will work to heal the divisions that grew in the church. Some have expressed cautious optimism at the very least with a return to a traditional style that Leo exhibited on Thursday night, when he emerged for the first time wearing the formal red cape of the papacy that Francis had eschewed.
As a bishop in Chiclayo, Peru, at the start of Russia’s 2022 full-scale invasion of Ukraine, then-Bishop Robert Prevost had not minced words in assigning blame to Moscow. According to a clip of a TV interview on the Peruvian show “Weekly Expression,” circulating in Italian media Sunday, Prevost said it was an “imperialist invasion in which Russia wants to conquer territory for reasons of power given Ukraine’s strategic location.”
In his remarks Sunday, Leo also called for an immediate ceasefire in Gaza, and for humanitarian relief to be
provided to the “exhausted civilian population and all hostages be freed.”
Leo also noted that Sunday was Mother’s Day in many countries and wished all mothers, “including those in heaven” a Happy Mother’s Day.
The crowd, filled with marching bands in town for a special Jubilee weekend, erupted in cheers and music as the bells of St. Peter’s Basilica tolled.
Angela Gentile of Bari arrived in the square three hours early to be in place. Nonplussed that cardinals had elected yet another non-Italian pope, she said she was happy Leo came to the central balcony of the basilica, so the crowd could see him face-to-face. “What’s good for the Holy Spirit works for me,” she said. “I have trust.”
More than 50 pilgrims from Houston, Texas, were in the
square, too, waving three large American flags. They were in Rome on a pre-planned Holy Year pilgrimage and said they were proud to be part of this historic occasion.
“Words cannot express my admiration and gratitude to God,” said the Rev. Dominic Nguyen, who led the Vietnamese American group. He said he hoped the pope would be happy to see the Stars and Stripes but also Peruvian flags and all other countries, showing the universality of the church.
A Mass in the grottoes and unsealing the apartment
ALSO Sunday, Leo celebrated a private Mass near the tomb of St. Peter and prayed at the tombs of several past popes in the grottoes underneath the basilica. Vatican Media filmed him praying before
Leo said priests can encourage more vocations by offering a good example, “living the joy of the Gospel, not discouraging others, but rather looking for ways to encourage young people to hear the voice of the Lord and to follow it and to serve in the church.”
Leo also attended the official unsealing of the papal apartments in the Apostolic Palace, which were sealed after Francis’ April 21 death. It is unclear if Leo will move into the apartments or just use them for formal audiences as Francis did.
Leo has slept in his old apartment in a Vatican palazzo since his election. Francis decided to live and work at the Domus Santa Marta hotel in the Vatican rather than move into the palace, eventually taking over much of the second floor.
The 69-year-old Chicagoborn missionary was elected 267th pope on Thursday. He has a busy week of audiences before his formal installation Mass next Sunday.
UK increases English requirements, toughens rules for migrants to stay
TBy Alex Morales
HE UK will increase English-speaking requirements for migrants, and make it harder for them to stay in the country as part of efforts to rein in levels of net immigration that have touched records in recent years. Britain’s new immigration system will end automatic settlement and citizenship rights for anyone living in the country for more than five years, Prime Minister Keir Starmer’s office said late Sunday in an emailed statement. The plans are set to be unveiled on Monday in a white paper that also includes proposals to raise language standards across “every immigration route,” and end overseas recruitment by care companies.
“When people come to our country, they should also commit to integration and to learning our language,” Starmer said in the statement. “Every area of the immigration system, including work, family and study, will be tightened up so we have more control. Enforcement will be tougher than ever and migration numbers will fall.”
Amid a surge in popularity of Nigel Farage’s anti-immigration Reform UK party, Starmer’s Labour administration is trying to regain momentum by outlining tough measures to bring down arrivals. While Monday’s plans have been in the works for months, the need to make progress was given extra
urgency by local elections at the start of May in which Labour lost almost two-thirds of the seats it was defending, while Reform won hundreds, taking control of its first local councils in an astonishing surge for a party that’s less than seven years old.
Farage’s outfit posted a record high 29% in a YouGov poll of voting intention last week, with Labour slipping to 22%, its lowest in five years. Separate YouGov polling shows some 48% of Britons think immigration is one of the most important issues facing the country, second only to the state of the economy. Reform’s ascendancy has provoked unrest among Labour Members of Parliament, who already fear losing their seats, despite the next general election not being due until mid-2029.
Home Secretary Yvette Cooper is due to make a
statement in the House of Commons on Monday outlining the new plans, under which Britain will also insist on a “basic understanding of English” from all adult dependents of migrants in order to ensure they’re better able to integrate, according to the statement.
Migrants will be required to spend a decade in the country before applying to stay, unless they can show a “real and lasting contribution to the economy and society,” it said. Professionals including nurses, doctors, engineers and specialists in artificial intelligence will be given fast-track routes.
The new system will be “one that recognizes those who genuinely contribute to Britain’s growth and society, while restoring common sense and control to our borders,” Starmer said. “This is a clean break from the past and will ensure
settlement in this country is a privilege that must be earned, not a right.”
Cooper will also spell out plans to end the overseas recruitment of care workers, while acknowledging the “huge contribution” they’ve made to the country, according to a separate statement from the Home Office. Those here already will be able to extend their stays as well as change their sponsoring employers and apply to settle in Britain. Meanwhile, long-term plans will be devised to train homegrown workers, according to the statement.
The UK’s third party, the Liberal Democrats, accused Labour of “tinkering around the edges” and failing to properly address a crisis in the country’s social care system. “Labour must step up and take proper action to address recruitment shortages including paying our care
workers properly and rolling out a plan for career progression,” the party’s health and social care spokeswoman, Helen Morgan, said in a statement.
Starmer blamed the main opposition Conservative Party—in power for 14 years until Labour took the reins of government in a landslide general election win last July—for losing control of British borders and allowing net migration to soar. Net migration in the year through June 2024—the most recent available data—stood at 728,000. While that was down from the record 906,000 a year earlier, it was still significantly higher than the 200,000 to 300,000 level that prevailed for most of the 2010s.
Compounding the problem for Labour is that the number of migrants arriving by crossing the English Channel illegally
in small boats from France has surged to record levels this year, amid benign weather conditions, including the sunniest March and April on record for England. As of May 11, Home Office data show that more than 11,500 migrants had made the journey this year, eclipsing last year’s record of 10,448 for the first five months of the year with more than two weeks still to go.
Labour “has overseen the worst ever start to a year for illegal immigrants crossing the channel,” said Tory shadow Home Secretary Chris Philp, who’s pushing for the UK to bring in a binding cap on immigration. “The idea that Starmer is tough on immigration is a joke.”
In interviews with the BBC and Sky on Sunday, Cooper said she was proposing a “fundamental shift in the approach to say that the immigration system should be properly linked to skills and training here in the UK.” She said there would be a “temporary” skills shortage list—including in construction—to allow employers to recruit abroad while training strategies are devised for homegrown talent.
“We are very clear we need to bring net migration substantially down,” Cooper told Sky. “It is currently falling, but we need to go much further. That’s what the plan is about. It’s about restoring control and order.”
YVETTE COOPER BLOOMBERG PHOTO