BusinessMirror May 21, 2025

By Cai U. Ordinario @caiordinario

THE Philippine banking system posted a 10.64 percent growth in its net income in the first quarter of 2025, according to data from the Bangko Sentral ng Pilipinas (BSP).

The net income of the banking sector increased to P101.9 billion as of March 2025 from P92.11 billion as of March 2024.

The banking industry’s total operating income grew 12.15 percent to P336.9 billion in the period ending March 2025 from the P300.39 billion posted in the

same period last year.

BSP data showed net interest income of the banking industry reached P274.23 billion in the first quarter this year.

The data showed this represented an 11.65-percent increase from the P247.41 billion posted in the first quarter of 2024. In terms of non-interest income, Philippine banks saw a 14.51-percent growth to P60.67 billion in March 2025 from P52.98 billion in March 2024.

The data also showed that Universal and Commercial Banks (UKBs) posted a net profit of P94.49 billion as of March 2025. This was 8.61

percent higher than the P87 billion posted in March 2024.

Thrift banks, meanwhile, posted a net profit of P5.24 billion in the first quarter of the year, a 12.36-percent growth from the P4.66 billion in the first quarter last year.

The BSP also reported that Rural and Cooperative banks (RCBs) posted a net income of P3.21 billion in the first three months of the year. This was 27.88 percent higher than the P2.51 billion posted in the same period last year.

Digital banks, meanwhile, posted a net loss of P1.04 billion in the period ending in March 2025. This, however, was 49.71 percent

By Reine Juvierre S. Alberto @reine_alberto

By Joel R. San

implement NCAP remains in effect.

The partial lifting of the TRO, according to Ting, was sought by the Office of the Solicitor General in an urgent motion filed last May 8 on behalf of the MMDA.

“This is not limited with respect to the MMDA, but it still remains with respect to the LGU ordinances. It can only be implemented by the MMDA in major thoroughfares because the MMDA resolution only refers to major thoroughfares, especially C-5 and Edsa. It will not apply to the places that are covered by the LGU ordinances such as the local streets of the cities,” the SC spokesman said.

Other major thoroughfares under MMDA’s jurisdiction are Katipunan, Marcos

DICT probes alleged cyber scam outfit in Cebu IT Park

By Lorenz S. Marasigan

THE Department of Informa-

tion and Communications

Technology (DICT) will launch a formal investigation into a scam operation allegedly operating out of Cebu IT Park, following revelations from a viral exposé by a gray hat hacker who infiltrated the group’s internal systems and captured damning footage of its dayto-day operations.

According to the YouTube video that the ethical hacker published on his YouTube account “mrwn,” the scam syndicate—posing as a crypto trading platform under various names including Virtual Wealth Exchange, BTC Boutique, and Solis Market—has reportedly swindled hundreds of victims across Europe, North America, and Africa through fake investment schemes.

“We have to investigate further. But the investigation of ‘mrwn’ has provided good leads and we have several persons of interest already to pursue investigation and attribute certain crimes with them,”

DICT Assistant Secretary and Cybercrime Investigation and Coordinating Center (CICC) Custodian Renato A. Paraiso said.

He added that part of the investigation will be whether there were lapses in the issuance of permits that allowed scam hubs to operate in the local government of Cebu. The group’s tactics involve a twostep fraud.

“Openers” first persuade targets to deposit small sums into a sham investment site, which is then manipulated to display modest returns. This sets the stage for “retention agents” or “closers” to fabricate outsized profits and pressure victims into investing larger amounts.

According to internal documents accessed by mrwn, the group made over $68,000 in February alone, with an annualized profit projection of over $365,000.

The DICT said it is now coordinating with law enforcement agencies to verify the evidence and investigate the company listed in leasing documents as BMJ Data Processing Services. The syndicate reportedly operated out of space rented through BPOSeats before transferring to a new location within Cebu IT Park.

Sought for reaction, Jack Madrid, president of the IT & Business Process Association of the Philippines

(IBPAP), said: “I have seen it. We are unsure as to the source of the video but clearly this is not the activity of an IBPAP or CIB.O [Cebu IT-BPM Organization] member.”

Madrid added, “We do not know who this company is, if they are a registered enterprise or not. So it is difficult to take an action, especially if the unknown entity is not an accredited member.”

Illicit activities ‘normalized’

WHEN asked for comment, Scam Watch Pilipinas, a national anti-fraud watchdog, warned about the broader implications of the video evidence.

“The recently released video provides a rare and unfiltered look into the daily activities of individuals engaged in fraudulent schemes, highlighting the normalization of such illicit activities within certain sectors,” the group said.

Challenging common assumptions that workers in scam hubs are always coerced, Scam Watch Pilipinas noted that the footage showed employees operating willingly—some even competing for the title of “Scammer of the Month,” allegedly awarded by their floor manager, a man named Antonio.

In one part of the video, the scammers were heard laughing at the victim after dropping the call that made a sale.

The watchdog urged the Philippine Na-

tional Police Anti-Cybercrime Group (PNP-ACG) and the CICC to act swiftly on the matter, stressing that the country’s reputation as a haven for cyber fraud continues to deteriorate.

“It is disheartening that the video has revealed the Philippines’ growing global notoriety in cyber fraud,” Scam Watch said.

The mastermind behind the scam operation has been identified only as “Adam,” who uses an Israeli number. The group has reportedly shifted its focus from Canada and the UK to countries like Nigeria, South Africa, and Gulf nations.

According to Paraiso, the government is now forming a “joint memorandum circular to create a joint task force to focus on fake news and troll farms and online scams.”

He added that the agency is open to partnering with white hat hackers such as mrwn to go after bad actors in the Philippines.

“We can only put a stop to these scam hubs if we put people behind bars,” Paraiso said.

With a report by Andrea San Juan

impact of the United States’ tariffs.

The Department of Finance (DOF) also remained firm that there is no need for additional revenue measures, given the country’s “robust” fiscal position.

“Prevailing borrowing and revenue trends suggest that the government will likely be forced to allocate an increasing share of its resources to debt servicing in the near- to medium-term, potentially constraining fiscal space for other priorities,” CPBRD said.

The country’s outstanding debt reached a new record level of P16.683 trillion as of the first quarter, while the debt-to-GDP ratio rose to 62 percent.

CPBRD said the debt-stabilizing primary balance (DSPB), or the value of primary balance required to stabilize the debt-to-GDP ratio, stood at -2.87 percent, below the estimated DSPB of -2.6 percent.

“This shortfall suggests that the country’s fiscal position may need further adjustments to stabilize the debtto GDP ratio in the near-term, thereby reinforcing concerns over long-term debt sustainability,” it said.

Meanwhile, the share of interest payments to the government’s revenues rose to 17.27 percent in 2024, limiting the fiscal space for public investments and essential services.

“If this trend continues, fiscal sustainability becomes increasingly more challenging, particularly if revenue growth fails to keep pace with rising interest obligations,” CPBRD said.

The proportion of total government spending allocated to paying debts climbed to 13 percent in 2024.

“[This] highlights the growing cost

Manhit said.

strategic partnership with likeminded states. He said Germany and the Philippines have demonstrated a strong and enduring partnership, particularly in enhancing maritime security and promoting regional stability.

“Germany has long been a valid defense partner of the Philippines dating back as far as 1974. The signing of a defense agreement between our countries just last week is a testament to the strength of this relationship,”

“This is expected to open more avenues for cooperation, including key areas such as cybersecurity, defense armaments, logistics, and even the United Nations peacekeeping operations. The agreement also paves the way for the third Philippines-Germany security and defense dialogue, which will facilitate joint activities and diplomacy. The message is quite clear,” Manhit added.

In his talk, German ambassador to the Philippines Andreas Michael Pfaffernoschke said Berlin’s role in ensuring maritime stability in the region is not a pure matter of principles and even less charity.

guard the welfare and safety of all road users.

He noted that since the petitions were submitted for resolution in 2023, numerous developments have occurred concerning traffic management in Metro Manila.

Highway, Roxas Boulevard, Commonwealth Avenue, Quezon Avenue, West Avenue, E. Rodriguez Avenue and Buendia Avenue.

The TRO against the implementation of NCAP was issued by the SC on August 30, 2022 in response to the plea of several petitioners which include Kilusan sa Pagbabago ng Industriya ng Transportasyon Inc. (Kapit), Pangkalahatang Sangguniang Manila and Suburbs Drivers Association Nationwide (Pasang-Masda), Alliance of Transport Operators and Drivers Association of the Philippines (Altodap), and Alliance of Concerned Transport Organization (Acto) and lawyer Juman B. Paa.

The SC has yet to resolve the petitions on the merit despite the conclusion of the oral arguments on January 24, 2023.

However, Ting said the Court is likely to issue its ruling on the main petitions very soon.

In his urgent motion to lift the TRO, Solicitor General Menardo Guevarra cited the need for the MMDA to fully enforce Resolution No. 16-01 or the NCAP program in its road and traffic management programs to address the worsening traffic congestion in Metro Manila’s thoroughfares and to safe-

Guevarra noted that on February 1, 2003, the Metro Manila Council (MMC), the policy-making body of the MMDA, adopted and approved the “Single-Ticketing System” (STS) and consequently issued “Joint Metro Manila Traffic Circular No. 01, Series of 2023” establishing the Metro Manila Traffic Code (MMTC) of 2023.

The MMTC seeks to harmonize the existing national and local traffic enforcement laws to establish a more effective transport and traffic management system across Metro Manila.

The chief government counsel said the pilot testing of the STC was launched on May 2, 2023, in coordination with seven LGUs in Metro Manila.

Due to the existing TRO, Guevarra said the MMDA limited the scope of the pilot testing of STS to physical or contact apprehensions only.

“While the MMDA’s Single-Ticketing System marks a major step toward uniform traffic enforcement, it is not by itself, sufficient to address Metro Manila’s worsening traffic situation,” the urgent motion read.

“MMDA’s own data confirm that road congestion and vehicular accidents are primarily caused by motorists’ blatant disregard of traffic rules and lack of road discipline,” he added.

The Solicitor General also cited recent data showing a high number of traffic violations committed since the TRO was issued. He noted that around 833,097 traffic violations were recorded through MMDA’s CCTV cameras as of April 2025.

In March of this year, 12,566 traffic violations were also documented, which Guevarra said was above the 9,5000 average monthly traffic violations recorded prior

of debt servicing, which may constrain the government’s ability to allocate funds toward critical sectors such as infrastructure, health, and education, posing risks to long-term sustainability,” CPBRD said in the paper.

To safeguard the country’s fiscal stability, CPBRD said tax effort must be increased to at least 15 percent of GDP for sustainable development.

The government should also pivot away from crisis budgeting and spending patterns since the pandemic has passed. “The elimination of public expenses justified by the lockdowns, for example, will massively improve the fiscal situation of the Philippines.”

Moreover, CPBRD said House Bill No. 9674 or the Budget Modernization Act filed during the 19th Congress should also be passed to promote discipline in budget preparation and execution, minimize discretion and improve predictability in fiscal policy.

“Policymakers are thus enjoined to intensify efforts to strengthen fiscal sustainability and advance fiscal consolidation by reducing borrowing and, more importantly, moderating deficit spending,” it said.

Last year, revenue collection amounted to P4.419 trillion, surpassing the P4.270 trillion target by 3.49 percent.

“It is also worthwhile noting that the achievement of the 2024 revenue target was aided by non-tax revenues,” CPBRD said.

Non-tax revenues surged by 55.34 percent year-on-year to P618.3 billion in 2024 from P394.8 billion in 2023. Tax revenue collection slightly fell short of the target by P20 billion, amounting to P3.800 trillion. The government’s outstanding debt is seen to reach P20.7 trillion by the end of the Marcos Jr. administration.

“It’s a matter of national interest. The Philippines has consistently shown strong commitment to international law, including the United Nations Convention on the Law of the Sea,” he said.

Pfaffernoschke said Germany appreciates the Philippines as a strong and reliable partner that shares this fundamental principle, particularly in response to maritime tensions in the region.

“The Philippines, with its need to modernize its armed forces and strengthen its maritime domain awareness, presents a context where German support can make a concrete and strategic impact,” he said.

to the NCAP’s suspension.

Guevarra said for the entire first quarter of this year, a total of 35,108 traffic violations were recorded by the MMDA.

“However, the MMDA cannot reasonably apprehend all these flagrant violations due to its limited personnel available for deployment to guarantee compliance with traffic violations,” the SolGen said. Furthermore, Guevarra said the partial lifting of the TRO is necessary in light of the planned massive rehabilitation of Edsa which is set to start this month.

“Given the sheer volume of vehicles and the complexity of Metro Manila’s road network, the limited deployment of MMDA traffic enforcers and the deputized local officers is grossly inadequate to manage the anticipated surge in traffic,” Guevarra explained.

“Existing traffic management measures simply fall short of what the situation demands,” he added.

The transport groups are questioning the legality of NCAP’s implementation, noting that it has no basis either in the Republic Act 7924 that serves as the enabling charter of the Metropolitan Manila Development Authority (MMDA), or RA 4136 which created the LTO. They added that the ordinances of the LGUs allowing NCAP are invalid since there are no existing laws passed by Congress that allow the implementation of such regulation. RA 4136, according to the petitioners, allows only face-to-face apprehension of traffic violators and declares traffic violations as a liability of the erring drivers and not the registered owners. The petitioners are also assailing the unreasonable provisions of the NCAP that include non-renewal of the vehicle registration until such time that the fines are settled, and for including innocent third persons liable for traffic violations.

They also argued that the NCAP violates the constitutional right of motorists to due process; for being oppressive and confiscatory; and for violation of privacy rights under Republic Act 10173 or the Data Privacy Act of 2012.

May 21, 2025

We’ll give up nothing, we’ll abandon nothing–Marcos

THE government will continue defending and protecting Philippine waters, President Marcos said on Tuesday, as he vowed not to tolerate “any act of disrespect” to the country’s sovereignty.

During the 127th anniversary celebration of the Navy (PN) at the Naval Operating Base—Subic in Zambales, Marcos reaffirmed the Philippines’ commitment to being a “responsible member” of the international community that engages in all matters diplomatically and to uphold the established principles under international law.

“We stand firm. We will never tolerate any act of disrespect against our sovereignty. We will continue to safeguard our maritime zones and exercise our maritime entitlements, in accordance with international law,” Marcos said.

Wala tayong isusuko, wala tayong papabayaan [We will give up nothing. We will abandon nothing],” he added.

Marcos hailed the Navy personnel for serving as the “peacekeepers both in land and in sea,” remaining as strong amid tensions in the region and steadfast in upholding the nation’s maritime entitlements with dignity

and courage.

He assured the PN of his administration’s strong resolve to attain its goal of attaining its agenda of a “future-ready and modernized Armed Forces [AFP].”

“This obligation is reflected in our proactive and sustained engagement in international defense and security efforts,” Marcos said.

“All of these are aligned with our broader efforts to foster cooperation and to maintain peace, both within our borders and across the region.”

New vessels

DURING the PN’s anniversary rites, Marcos also led the christening and commissioning of two newly-acquired naval assets, BRP Miguel Malvar and the BRP Alber Majini, to make the Navy personnel “ready to conduct more complex and effective operations in promoting the country’s national interest.”

Marcos said the modernization efforts would equip the PN with the necessary skills, knowledge, and tools needed to protect the Philippine territory.

He stressed that the government, through the AFP Modernization Program’s Horizon 3, is investing in “responsive and upto-date” assets and systems to

keep the PN a “formidable force in the region.”

“This includes the expansion of our footprint in critical areas, beginning with the groundbreaking at Naval Station Nabasan, and continuing with Chiquita and Grande Islands. We are also establishing the Naval Support Base in Misamis Oriental so that Sangley Point can be devoted to other uses,” Marcos said.

“These efforts form part of our strategy to bolster our national defense,” he added.

Holistic approach

THE Navy has been hard at work to attain a “holistic defense posture” for the country and its vast maritime territories, its chief said Tuesday.

“We have been progressively undertaking actions to attain a holistic defense posture that secures the whole Philippine archipelago and our exclusive economic zone. This is anchored in a comprehensive archipelago defense concept,” the Navy flag officer in command, Vice Admiral Jose Ma. Ambrosio Ezpeleta, said in his speech during the Navy’s 127th founding anniversary at the Naval Operating Base Subic in Zambales.

“Such steps are necessary as the Philippines’ future is strongly linked to the security of its maritime domain, he said.”

“That is why our Navy plays an important role, not just in defending national sovereignty and assuring territorial integrity, but in contributing to lasting peace and preserving marine resources that future generations of young Filipinos can inherit,” he added.

Ezpeleta also stressed that this year’s theme, which is “Philippine Navy: Addressing Challenges, Promoting Regional Stability, and Strengthening Maritime Security,” shows the service’s understanding of the growing expectations placed on them.

He said the Navy has steadily grown into a force that is ever prepared to protect the country.

“We demonstrate this commitment by modernizing and enhancing our deterrent capabilities, deepening our defense ties with key partners and like-minded nations, developing individuals with appropriate technical competencies and strengthening collaboration with major services. This also brings us closer to our vision of becoming a modern and multicapable Navy,” he added.

Henry Empeño with PNA

Safeguards needed with Ncap TRO lifting

By Jovee Marie N. dela Cruz @joveemarie

WHILE he respects the Supreme Court’s decision lifting the temporary restraining order (TRO) on the controversial No-Contact Apprehension Policy (Ncap), a leader of the House of Representatives on Tuesday emphasized that key safeguards must first be in place before its reimplementation.

The House Committee on Ways and Means chairman, Albay Rep. Jose Clemente “Joey” Sarte Salceda, said that Ncap should serve as a tool for justice, not merely a revenue-generating mechanism. See relatedstoryonbackpage

The Court has lifted the TRO on the

Ncap following a plea that was filed by the Metropolitan Manila Development Authority (MMDA). The MMDA had previously stated that the Ncap is necessary as Epifanio delos Santos Avenue is undergoing a rebuilding phase.

Salceda also urged authorities to move cautiously and ensure that any future deployment of Ncap includes robust measures to protect civil liberties and avoid using technology solely as a revenue-generation tool.

“I respect the Supreme Court’s decision lifting the TRO on the No-Contact Apprehension Policy [Ncap]). But before it is implemented, four critical safeguards must be in place,” Salceda said in a statement.

The veteran lawmaker, who has long

Long way to go for

By Rizal Raoul Reyes @brownindio

ALTHOUGH the progressives made an impressive showing in the recent midterm elections, there is still much to be done to make the movement into a more potent and stronger force in the Philippine political scene.

In their article “The Old is Dying, the Victory is Fragile: Will the Progressive Comeback Reshape Philippine Democracy?” Monica Ang-Tan of Friedrich-Ebert-Stiftung

raised concerns over Ncap’s past enforcement methods, proposed safeguards to ensure fairness and constitutional compliance.

He said a clear and accessible appeals mechanism and proper road signage and uniform traffic rules across Metro Manila must be implemented.

“Just like in the United States, where Ncap-type violations can be contested before a traffic judge,” Salceda said, noting that many areas still suffer from inconsistent or hidden signs, making it difficult for motorists to comply.

Salceda emphasized that the policy should not penalize pedestrians, especially in areas lacking safe and protected crossings.

He added there should also be strict

guidelines from the Department of the Interior and Local Government and the Public-Private Parnership Center.

“Guidelines from the Department of the Interior and Local Government (DILG) and the Public-Private Partnership (PPP) Center to ensure that Ncap implementations—especially those outsourced to private companies through PPPs—do not violate commuter rights or due process,” he added.

“I support high-tech traffic enforcement, but we must never allow a system where drivers and commuters are penalized without recourse, transparency, or fairness. Technology must uphold the Constitution—not bypass it. Ncap must be a tool for justice, not just revenue,” he said.

progressives–analysts

Philippines (FES) and Francis Isaac of San Beda College—Alabang said the victories of senators Paolo Benigno Aquino IV and Francis Pangilinan in the senatorial race, Akbayan and Mamamayang Liberal in the party-list race gave a segment of Filipinos a glimmer of hope who are disgusted with the feud between the Marcos and Duterte dynaties.

“The progressive win is fragile, and lasting change requires coalition-building, deeper organizing, and long-term strategy,” said Tan and Isaac.

“But this is not yet a turning point. It is a fragile opening. As the dust settles, progressives must ask: Is this a realignment—or just a rupture? A wave—or a warning? And most urgently, how do they consolidate fragile gains in a political system still shaped by populism, disinformation, personality politics, and entrenched power,” the two said.

To shape that future, the two said progressives will need more than momentum. They said the progressives will need to buid coalitions, ground work, and a strategic reimagining of politics itself.

Surprises

DE La Salle University Prof. Julio Teehankee said political scientists observed that the 2025 elections generated some surprises. First is the strong showing of the liberalprogressive opposition. Both Aquino and Pangilinan not only returned to the Senate but secured positions within the top five. Meanwhile, Akbayan emerged as the leading party-list group, achieving the highest number of votes ever recorded for any party-list group in Philippine electoral history. Mamamayang Liberal (ML) partylist group also managed to secure one seat in Congress.

Nevertheless, the victory of the liberalprogressive bloc is not complete. They pointed out that the Duterte camp won the narrative war by offering a simplified

Senators back President’s move to set aside politics

By Butch Fernandez @butchfBM

AMID persistent rumors that his position may be in peril when the new Senate convenes after June 30, Senate

President Francis Escudero has welcomed President Marcos’ call for all leaders to set aside politics and focus on urgent issues to grow the economy and improve the lives of the people.

“I agree with the call of President Bongbong Marcos na isantabi ang pulitika at ituon ang pansin sa pangangailangan ng ating mga kababayan. Tama po siya ; [to set aside politics and focus on needs of our countrymen. He is right, our country’s leaders cannot afford to be consumed by politics when so many of our kababayan struggle simply to make ends meet.”

Escudero, in turn, conveyed that “I appreciate that the President had the humility to recognize that the recent election results reveal that our countrymen are weary of conflict and want a government focused on their needs, not distracted by the drama of politics.”

“In admitting that he is open to reconciling with the Vice President and the Duterte family, he reminds us that the welfare of the Filipino people should always take precedence over personal differences and partisan disputes,” Escudero added. He was referring to the President’s interview on Monday for his podcast, where he said he was willing to set aside differences with political foes during the recently conducted heated midterm elections, if only so that he can rally everyone behind the urgent economic and social issues and promote good governance.

Escudero said, partly in Fillipino: “Our President’s message is clear: now is the time to build bridges, not burn them. We owe it to our people to rise above division and do better—together—for the sake of our nation.”

Lacson: President needs ‘Bastonero’ SENATOR-ELECT Panfilo Lacson suggested that Marcos needs a “bastonero” or someone to whip people into line, “in order to push his good governance campaign.” Lacson pointed out that “while President Marcos still has enough time to make needed adjustments to deliver good governance in the last three years of his term, he is simply “reminding that he will need a trusted “bastonero” or enforcer to make government officials under him toe the line.” Lacson stressed this on Tuesday as he noted the President’s good intentions in setting aside politics and being open to reconciling with the Duterte family may be interpreted by some as “weakness.”

“The openness to reconcile with the Duterte family is very typical of PBBM as a person. Yet his kindness and the goodness of his heart in dealing with people are being interpreted by both allies and adversaries as a weakness of his leadership.”

“That said, he may need a strong but well-intentioned ‘Bastonero’ in his Cabinet who is capable of making government officials, including members of Congress, toe the line towards good governance,” he said.

“However, the bastonero himself or herself cannot be abusive. The bastonero must be strong but well-intentioned,” he added.

Citing his experience as National Police (PNP) chief from 1999 to 2001, he said—quoting diplomat, author and philosopher Niccolo Machiavelli—that he would rather be feared than loved if he cannot be both, so he can exercise his leadership properly.

On Monday, Lacson said he fully supports the President’s call to set aside politics now that the elections are over, and to focus on nation building.

“We should set aside politics, which should be only for the campaign. Now that the campaigning is over, we must help each other,” he said.

JBC opens applications for Martires’ successor

message of “Save Sara, Bring Him Home.” “This has enabled the Duterte family to consolidate its vote base and further challenge the administration,” they said.

The second trend was the defeat of the administration coalition. Based on previous elections, midterm elections are always to the advantage of the incumbent. However, it was a different scenario in 2025. The results of the recent elections show the faltering of ayuda politics and the failure of the Alyansa to maximize the incumbency advantage.

Cleve Arguelles of WR Numero asserts that these surprises are not historical flukes but are the results of the collapse of the Marcos-Duterte alliance. “No single camp dominated the race, opening up multiple and unpredictable pathways to victory,” they said.

Sen. Christopher Go’s strong showing, for example, was not just due to the Duterte base. He received more than 16 million votes from the National Capital Region (NCR), Mindanao and the Visayas (excluding Western Visayas), constituting 62 percent of his total votes. Second-placer Aquino drew his core support from more liberal-leaning regions such as Metro Manila, Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon), Bicol, and Western Visayas, which made up 62 percent of his total

TBy Joel R. San Juan @jrsanjuan1573

HE Judicial and Bar Council (JBC) has opened the application and recommendation to the post of Ombudsman Samuel Martires whose term will expire on July 27, 2025.

The JBC said online applications and recommendations can be submitted to the JBC Online Registration and Application System’s (JBC O.R.A.S.) judicial platform www.portal.judiciary. gov.ph.

The deadline for application and recommendation is set on July 4 at 4:30 p.m.

It added that those vying for the post may visit the official JBC website at www.jbc.judiciary.gov.ph for detailed guidelines and application requirements.

The JBC’s official announcement was signed by JBC ExOfficio Secretary and Supreme Court (SC) Clerk of Court Marife M. Lomibao-Cuevas.

The JBC is a constitutional office that accepts, screens, and nominates appointments in the judiciary; the Ombudsman and his deputies and special prosecutor; and members of the Legal Education Board. It is headed by the Chief Justice as ex-officio chairperson.

Martires was appointed Ombudsman on July 26, 2018 by then President Rodrigo Duterte after the former’s early retirement as associate justice was approved by the SC.

Prior to his appointment to the SC , Martires also served as associate justice of the Sandiganbayan and as judge of the regional trial court (RTC).

Under Republic Act 6770, the law that created the Office of the Ombudsman, its functions are “to investigate and prosecute on its own or on complaint by any person, any act or omission of any public officer or employee, office or agency, when such act or omission appears to be illegal, unjust, improper or inefficient.”

www.businessmirror.com.ph

DA eyes expanded ‘market’ for ₧20/kg rice

TBy Ada Pelonia @adapelonia

HE Department of Agriculture (DA) is mulling over expanding the beneficiaries of its P20 per kilo rice program sold in Kadiwa stores to lower- and lower-middle-income brackets.

said the second round of beneficiaries in the gov -

ernment-subsidized rice program would involve individuals’ incomes below a certain threshold.

“Ang unang makinabang outside of the vulnerable sectors [...] iyong mga lower to lower-middle income na mga sector ng population natin,” de Mesa told reporters.

He noted that these sectors would form part of the P20 per kilo rice program’s 15 million household target beneficiaries, translating to around 60 million Filipinos.

Under the government’s initiative, the cheaper rice would only be available to vulnerable sectors, such as indigents, senior citizens, solo parents, and persons with disabilities (PWDs) who can purchase up to 40 kilos per month.

Earlier, Laurel noted that the DA will expand the P20 per kilo rice program to Kadiwa centers nationwide by the second half of the year.

This, after 20 additional centers across Metro Manila, Bulacan, Cavite, Laguna, Mindoro, and Rizal started selling the cheaper rice last week.

The DA chief said the agency will open 50 to 55 Kadiwa outlets that will sell the P20 rice program by June.

“Then we will be rolling this out in three phases—this is phase one. Our target for phase two would be [to expand areas] around July,

Legislator calls for immediate action on Edcom2 findings

By Jovee Marie N. dela Cruz @joveemarie

IGHLIGHTING the Phil -

Hippines’ deepening learning crisis, a House of Representatives leader on Tuesday demanded immediate action on the Second Congressional Commission on Education (Edcom 2)’s findings, addressing educational inequality in the country.

Addressing the Diocese of Cubao Educational System (Doces) General Assembly at the Obispado de Cubao, Tingog Rep. and Edcom

2 Commissioner Jude Acidre presented key highlights from the Edcom 2 Year 2 report, titled “Fixing the Foundation: A Matter of National Survival.”

“The title is strong. It has to be. Because that’s how serious things are,” Acidre said.

“Foundational learning must be our top priority,” he stressed. “What happens when a child reaches Grade 4 and still cannot read well or do basic arithmetic? What happens is this: the child continues through school, yes—but without real learning. Learning gaps become learning chasms.”

Acidre highlighted that the

learning crisis affects both public and private educational institutions, including Catholic schools serving low-income communities, which are also experiencing declining learning outcomes.

Acidre urged schools to rethink their resource allocation and invest more intentionally in the early years.

“Imagine if every Catholic school adopted a ‘foundationsfirst’ model—where we pour our best resources, our best teachers, and our most creative interventions into kindergarten to grade 3. That would change everything,” he said.

Acidre stressed that improving the quality of teaching must go beyond technical training.

“Teachers are the beating heart of the school,” he said. “But the truth is, our teachers are tired. Many are disillusioned. Some are struggling silently. What they need is not just more seminars or modules. They need real formation—personal, professional, and spiritual.”

He encouraged schools to create environments where teachers can thrive.

He continued, “Let’s mentor the young teachers, uplift the burned-

Philippine SID ILO compliant A

THE Maritime Industry Authority (Marina) said on Monday it has successfully concluded the second Independent Evaluation of the Philippine Seafarer’s Identity Document (SID), bolstering the country’s compliance with global maritime standards and reinforcing the credibility of Filipino seamen abroad.

The week-long assessment, led by International Labor Organization (ILO) evaluator John William M. Campbell, ended on May 16. Campbell lauded the Philippines’ implementation of the SID system, which he described as “very good” and “on track,” emphasizing that the system has been running reliably for the past five years.

“Congratulations on being able to deploy it and run it for the last five years,” Campbell said. “I am confident that everything will be accepted by the International Labor Organization.”

The SID, issued under the ILO Convention 185, serves as a secure identity document for seamen, facilitating their transit and shore leave in foreign ports while maintaining strict standards for data protection and security.

Marina Administrator Sonia Malaluan welcomed the ILO’s positive findings, saying the results affirm the agency’s continuing push for excellence.

“We are dedicated to enhance our systems further to ensure that our SID remains secure, efficient, and globally recognized,” she said. The evaluation covered the processes and security features of SID issuance at the Marina’s Central Office and its Regional Offices in Western and Central Visayas (Regions VI and VII).

According to Malaluan, the “initiative supports Marina’s broader mission to safeguard the identity and credibility of Filipino seafarers in the global maritime sector.” Lorenz S. Marasigan

out ones, and form communities where teaching becomes a vocation again, not just a job.”

Acidre also emphasized the need to address educational inequality. “We cannot be okay with this,” he said, referring to the stark disparities in school conditions across the country.

He urged Catholic institutions to strengthen their outreach and expand access to education for underserved communities.

“Let’s strengthen scholarship programs. Let’s reach out to the margins. Let’s make Catholic education not a privilege for the few, but a gift for the many. And let’s push for stronger governmentprivate partnerships to make that happen,” he said.

He also emphasized the vital role of private schools in the Philippine education system and advocated for stronger collaboration between the public and private sectors to enhance access and outcomes for all learners.

“A school is not just a building. It is a community—a village of support, guidance, encouragement, and growth,” he added.

As Edcom 2 prepares to draft a long-term national education

and workforce development plan, Acidre urged education stakeholders to actively participate in the reform process.

He called for collective efforts to uplift foundational learning, invest in teachers, bridge inequality gaps, provide holistic learner support, and utilize data and research effectively.

Citing school staffing as a structural barrier to inclusion, Acidre said many schools remain unequipped to meet students’ diverse needs.

“How can we expect quality education when schools don’t even have a guidance counselor? How can we expect inclusion when there’s no special education teacher? How can we care for our students’ emotional well-being if no one is trained to recognize trauma, depression, or bullying?”

He reminded school leaders of the broader role schools play in forming communities.

Acidre also challenged educators to lean into data and evidence, even when uncomfortable.

“Sometimes, we avoid data because it makes us uncomfortable. But truth is grace. And truth leads to transformation,” he said.

New legislator wants seamless reintegration of returning OFWs

N incoming lawmaker is pushing for the creation of Balikbayani Centers—a one-stop reintegration hub for returning overseas Filipino workers (OFWs) and their families, modeled after the Malasakit Center initiative.

Incoming Albay Rep. Raymond Adrian Salceda said this proposal will make sure that the first thing that OFWs encounter when they return home is care, not confusion. Salceda said the bill does not create any new bureaucracy. It will be financed through the Owwa (Overseas Workers Welfare Administration) Trust Fund, Special Purpose Funds from the Department of Social Welfare and Development and Department of Labor and Employment, and the President’s Socioeconomic Projects Fund. The Department of Migrant Workers (DMW) will serve as the lead implementing agency.

Under the proposal, Balikbayani Centers will consolidate essential reintegration services in one accessible location. Emergency and reception desks will be set up at major ports of entry like Ninoy Aquino Internation Airport, Cebu, and Davao, while full-service centers will be established in key regional cities such as Legazpi to assist OFWs returning to the provinces.

Each center will bring together frontline agencies: Owwa for certification, counseling, and referrals for livelihood, training, and reintegration services; DSWD for

Continued from A4

votes. Interestingly, he placed sixth in Cebu, a Duterte stronghold, but fared poorly in Davao.

Other Duterte allies such as Bato dela Rosa, Jimmy Bondoc, and Philip Salvador performed well in Mindanao and parts of the Visayas, while administration candidates like Erwin Tulfo, Panfilo Lacson, and Vicente Sotto III drew nearly 70 percent of their votes from Luzon, excluding key liberal regions.

“Arguelles’ analysis tells us that regional loyalties still played a powerful role. Marcos retained strength in northern and central Luzon. Duterte loyalists held sway

then the last phase would be by September,” Laurel told reporters in a previous interview.

He noted that phase two would include areas in Mindanao, such as the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

“We’re choosing based on which areas recorded the highest level of poverty incidence, so it would be fair.”

Meanwhile, Laurel also mentioned that several local governments (LGUs) have already signed memoranda of agreement (MOA) with the DA for the P20 rice program. Some of these were Bohol,

Siquijor, and Southern Leyte.

“We’ll also include Mindoro in our list. We’ll talk to the Mindoro LGU if they can participate in the 50-50 joint subsidy,” he said. Under the P20 rice program, LGUs that participate have to shoulder half of the P13 subsidy, while the other half will be defrayed by the DA. The National Food Authority’s (NFA) rice stocks would be sold at P33 per kilo.

“This is about putting food on the table for families who need it most, and we’re working to ensure this support reaches more Filipino households and continues through 2028,” Laurel said.

Tieza board approves ₧5.3 billion budget to fund infra, GAA projects

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

THE Tourism Infrastructure and Economic Zone Authority (Tieza) will spend some P5.34 billion on its operations this year, including major infrastructure projects across the country. This was disclosed by Tieza Chief Operating Officer Mark T. Lapid in a Viber message to the BusinessMirror . The corporate operating budget (COB) was approved by the Tieza’s board of directors on February 18, 2025 and includes projects funded by a P1.55-billion subsidy allocated under the General Appropriations Act (GAA) of 2025, on top of P2billion in projects the board had approved earlier in the year.

Tieza, a government-owned and -controlled corporation (GOCC) is the infrastructure arm of the Department of Tourism (DOT) and also oversees the creation and management of tourism enterprise zones. In addition, Tieza also manages eight hotels and resorts, along with two golf courses. The GOCC funds its operations mainly from 50 percent of its collection of travel taxes.

WPS engineering study

crisis aid, Sustainable Livelihood Program (SLP) grants, shelter referrals, meals, and transport to home; Dole for emergency employment through Tupad and starter livelihood kits; Tesda for skills training enrollment with allowances and toolkits; the Department of Trade and Industry for MSME support and assistance for starting small businesses; and the Department of Health and local governments for health checkups, psychological support, and access to Medical Assistance to Indigent Patients (Maip) for OFW dependents.

Uniquely, the bill includes OFW dependents— spouses, children, and parents—as eligible beneficiaries of these reintegration services, acknowledging their critical role in the migrant labor journey.

“This is not just a policy of convenience—it’s a policy of care,” Salceda added. “We are applying the Malasakit model to labor migration. This is malasakit for workers who built the homes they don’t get to live in and for families who waited years for their return,” he said.

The proposed measure gives priority to returning OFWs from high-risk and labor-intensive sectors, including caregiving, construction, domestic work, and factory labor.

Salceda is set to file the Balikbayani Center Act on July 22, 2025, at the opening of the next Congress.

Jovee Marie N. dela Cruz

in parts of Mindanao. Many voters continued to choose based on personality or geography, not necessarily platforms.”

Gender Political Dynamics

TAN and Isaac pointed out that sexist rhetoric was a recurring issue throughout the 2025 campaign season, with multiple incidents drawing public condemnation and sparking institutional responses. They said the repeated offenses highlighted a persistent culture of misogyny in political discourse—and underscored the urgent need for stricter enforcement of respectful campaigning standards and more robust support for women in public life. Unfortunately, as Prof. Jean Encinas-Franco of the

AS this developed, Lapid said they have already awarded the P99.2-million project project for a detailed engineering study of the West Philippine Sea (WPS) and neighboring islands to WTA Architecture and Design Studio.

The architecture firm, founded by William T. Ti Jr., was the lone bidder for the project. Awarded in December, WTA has 180 days to complete the project, or by June this year.

The firm is expected to: “Carry out a preliminary study and investigation of the site; prepare a precise and detailed masterplan design and drawings; introduce new buildings and spaces, provide landmarks and improve existing structures; integrate sustainability in its designs; ensure the reports and designs adhere to the latest best practices; and prepare detailed engineering design documents for facilities under shortterm development,” Lapid added.

According to WTA’s website, its projects include residential and mixed-use buildings; office buildings; hospitality establishments such as those owned by SM Hotels and Conventions Corp.; sports stadiums; retail spaces like restaurants and banks; schools; among others. Funds for said project were allocated by lawmakers to assert the Philippines’s ownership of the WPS, which Beijing continues to claim despite the 2016 ruling by the Permanent Court of Arbitration favoring the Philippines’ sovereign rights and jurisdiction.

P942-M NTDP projects

AMONG Tieza’s infrastructure projects to be funded by its COB this year include new and ongoing projects, among which are P942.2 million under DOT’s National Tourism Development Program (NTDP) 2023-2028, and P514.50 million in flagship projects. The largest NTDP project is the P500million construction of a sewerage system treatment facility in Coron. Close to half of these flagship projects are P240-million in tourist rest areas (TRAs) that will be built in various regions. The TRA, initiated by Tourism Secretary Christina Garcia Frasco in 2022, consists of restrooms, a shower area, and pasalubong center featuring products of microbusinesses.

Another major fund allocation at P300 million is a Fountain and Lighting Project in Bacolod City classified as an Historical, Cultural, Religous, and Heritage site project.

Tieza will also procure hyberbaric chambers, amounting to P41.6 million, to be deployed in key scuba diving areas such as Coron, Dauin in Negros Oriental, Daangbantayan in Cebu, and Camiguin. The Philippines has been named the world’s leading dive destination for the sixth consecutive year at the World Travel Awards 2024. In additon, the projects will include those pushed by lawmakers for Puerta Galera, Bicol, and Tacloban. (See, “Lawmakers’ pet projects find their way in tourism budget,” in the BusinessMirror , January 6, 2025.)

University of the Philippines explained, the midterm polls did not offer any significant space for gender issues. Divorce, antidiscrimination and other gender related concerns were not thoroughly discussed in the 2025 elections. Franco attributed it to the sheer number of hopefuls running for public office. “Because there were 66 candidates competing for 12 Senate seats, the focus was on voter awareness, to the detriment of more substantive issues,” Franco said. Yet, despite the challenges, Franco asserts that the recent elections still offer several bright spots. There was a clamor from citizens to disqualify candidates who uttered misogynist remarks. And because of public clamor, the Commission on Elections was forced to act on the complaints despite its workload. Although the election of former Vice President Leni Robredo as mayor of Naga City and Leila de Lima entered the Lower House as nominee of ML partylist group cannot be interpreted as a complete repudiation of Duterte’s style of misogynistic politics, it does open up a space for the voice progressive and independent-minded women to be heard, Franco added.

Agriculture Assistant Secretary Arnel de Mesa

A6 Wednesday, May 21, 2025

Editor: Angel R. Calso

Aid trucks enter Gaza amid growing international pressure on Israel to address humanitarian crisis

By Tia Goldenberg, Samy Magdy & Wafaa Shurafa The Associated Press

TEL AVIV, Israel—The first few aid trucks entered Gaza on Monday following nearly three months of Israel’s blockade of food, medicine and other supplies, Israel and the United Nations said, as Israel acknowledged growing pressure from allies including the United States.

Five trucks carrying baby food and other desperately needed aid entered the territory of over 2 million Palestinians via the Kerem Shalom crossing, according to the Israeli defense body in charge of coordinating aid to Gaza, COGAT.

The UN humanitarian chief, Tom Fletcher, called it a “welcome development” but described the trucks as a “drop in the ocean of what is urgently needed.” Food security experts last week warned of famine in Gaza. During the latest ceasefire that Israel ended in March, some 600 aid trucks entered Gaza each day.

Fletcher said an additional four UN trucks were cleared to enter Gaza. Those trucks may enter Tuesday, COGAT said. Fletcher added that given the chaotic situation on the ground, the UN expects the aid could be looted or stolen, a growing problem as resources became increasingly scarce.

Israeli Prime Minister Benjamin Netanyahu said his decision to resume “minimal” aid to Gaza came after allies said they couldn’t support Israel’s new military offensive if there are “images of hunger” coming from the Palestinian territory.

Shortly after Israel announced the first trucks entered Gaza, the U.K., France and Canada issued a sharply worded joint statement calling the aid “wholly inadequate.” They threatened “concrete actions” against Israel, including sanctions, for its activities in Gaza and the occupied West Bank and called on Israel to stop its “egregious” new military actions in Gaza.

Prime Minister Benjamin Netanyahu condemned the joint statement and called it “a huge prize for the genocidal attack on Israel on October 7.”

Israel over the weekend launched a new wave of air and ground operations across Gaza, and the army ordered the evacuation of its second-largest city,

Khan Younis, where a massive operation earlier in the 19-month war left much of the area in ruins.

Israel says it is pressuring Hamas to release the remaining hostages abducted in the Oct. 7, 2023, attack that ignited the war. Hamas has said it will only release them in exchange for a lasting ceasefire and an Israeli withdrawal.

Netanyahu repeated Monday that Israel plans on “taking control of all of Gaza.” He has said Israel will encourage what he describes as the voluntary emigration of much of Gaza’s population to other countries—something that Palestinians have rejected.

Allies pressure Israel

IN a video statement, Netanyahu said Israel’s “greatest friends in the world” had told him, “We cannot accept images of hunger, mass hunger. We cannot stand that. We will not be able to support you.”

The Trump administration, which has voiced full support for Israel’s actions and blames Hamas for deaths in Gaza, has expressed growing concern over the hunger

crisis. President Donald Trump— who skipped Israel on his trip to the region last week—voiced concern, as did Secretary of State Marco Rubio.

Netanyahu’s video statement appeared aimed at pacifying anger in his nationalist base at the decision to resume aid. Two farright governing partners have pressed Netanyahu not to allow aid into Gaza.

Aid into Gaza would be “minimal,” Netanyahu said, and would act as a bridge toward the launch of a new aid system in Gaza. A USbacked organization will distribute assistance in hubs that will be secured by the Israeli military.

Israel says the plan is meant to prevent Hamas from accessing aid, which Israel says it uses to bolster its rule in Gaza.

UN agencies and aid groups have rejected the plan, saying it won’t reach enough people and would weaponize aid in contravention of humanitarian principles. They have refused to take part.

According to aid officials familiar with the plan, it will involve setting up distribution points mostly in southern Gaza, forcing many Palestinians to move south once again. The recent ceasefire saw hundreds of thousands return to homes in the north.

Threat of sanctions

The statement by France, Canada and the U.K. marked one of their most significant criticisms of Israel’s handling of the war in Gaza and Israel’s actions in the occupied West Bank.

“We oppose any attempt to expand settlements in the West Bank,” the three countries said, calling them illegal.

The countries said they have always supported Israel’s right

to defend itself against terrorism but called the military escalation in Gaza disproportionate. The countries earlier criticized the new US-backed proposal for aid delivery in Gaza, saying it would not align with humanitarian law.

Canada has already imposed a series of sanctions against Israel over the last two years regarding settler violence in the West Bank. It was unclear how much France can act unilaterally given that it is a member of the European Union.

In a separate, letter Monday, the foreign ministers of Germany, Italy, Japan and 18 other countries—not including the United States—called for Israel to fully reopen humanitarian aid delivery to Gaza by the UN and non-governmental organizations.

The war in Gaza began when Hamas-led militants attacked southern Israel, killing some 1,200 people, mostly civilians, and abducting 251 others. The militants are still holding 58 captives, around a third believed to be alive, after most of the rest were returned in ceasefire agreements or other deals.

Israel’s retaliatory offensive, which has destroyed large swaths of Gaza, has killed more than 53,000 Palestinians, mostly women and children, according to Gaza’s Health Ministry, which doesn’t differentiate between civilians and combatants in its count.

The war has displaced around 90% of its population, most of them multiple times.

Magdy reported from Cairo and Shurafa from Deir al-Balah, Gaza Strip. Associated Press writers Farmoush Amiri in New York, Sam Mednick in Jerusalem, Sarah El Deeb in Beirut, and Melanie Lidman in Tel Aviv, Israel contributed.

More severe weather pummels central US as thousands recover from deadly tornadoes

By Bruce Schreiner The Associated Press

LONDON, Ky.—More tornadoes plowed through the central US on Monday, ripping apart buildings and knocking out power as people from Texas to Kentucky continued to clean up from days of severe weather that killed more than two dozen people and destroyed thousands of homes and buildings.

At least four tornadoes were confirmed in Oklahoma and Nebraska on Monday evening, according to a preliminary report from the National Weather Service.

Across Oklahoma, at least 10 homes were destroyed and multiple buildings were damaged, including a fire station that was wiped out, according to the Oklahoma Department of Emergency Management. A spokesperson for the agency said they have not received any reports of injuries or deaths.

Around 115,000 customers were without power in Oklahoma, Arkansas and Missouri, according to PowerOutage. us.

Parts of several highways were also closed due to flooding or storm damage.

In northwest Arkansas, severe weather caused a Halsey concert to be canceled and a municipal airport had to close temporarily Monday night so crews could remove debris from the field. And in Oklahoma, Tulsa Public Schools canceled all afterschool activities.

Northern Texas saw softball-sized hail measuring 4 1/2 inches (11.4 centimeters) in diameter, according to Scott Kleebauer, a meteorologist with the service’s Weather Prediction Center.

Missouri and Kentucky clean up EARLIER Monday in St. Louis, where officials estimated a Friday tornado damaged 5,000 buildings and may cost well over $1 billion, the mayor warned that federal assistance could take weeks.

Kentucky has been hardest hit by the storms. A devastating tornado late Friday into early Saturday damaged hundreds of homes, tossed vehicles and killed at least 19 people, most of them in southeastern Laurel County.

In London, Kentucky, where the devastation was centered, the small airport became a beehive of cleanup work after it took a direct hit from a tornado. Small aircraft stored there had large dents in them and even wings ripped open. Officials were using it as a base to get water, food, diapers and other supplies out to the community.

“We have 1,001 things going on. But we’re managing it. And we’re going to get it all cleaned up,” said London Mayor

Randall Weddle.

Officials in Kansas and Texas also were evaluating damage from late Sunday storms. The risk of severe storms moves into Alabama, Mississippi and Tennessee on Tuesday, the weather service said.

Kentucky hit hard

THE Kentucky storms that killed 19 people were part of a weather system that caused seven deaths in Missouri and two in northern Virginia, authorities said.

Lonnie Nantz hid in a hallway with his wife, two daughters and a grandson as the one-story brick home they bought near London in 1977 was destroyed around them. They were trapped in rubble for about 20 minutes in the midnight darkness before they were rescued unharmed.

“I don’t know why this happened. I’ve tried to live a good life all my life. I’ve still got the faith,” said the 77-yearold Nantz, who went to church as always on Sunday.

London city worker Ashley Taylor was back on the job Monday loading doughnuts to take to a hospital and dispatch center even though there was a tarp on her roof. She was lucky—the houses across her street were destroyed late Friday night.

She survived the storm with nine other people and three dogs in the crawl space of a neighbor’s home.

“We prayed like never before—and just thankful for everything God did for us,” Taylor said. In surrounding Laurel County, first responders mourned one of their own. Fellow firefighters found the body of Laurel County Fire Major Leslie Leatherman on top of a woman he was shielding from the storm’s fury as he answered calls during the worst of the storm. The woman was yelling for help and they were in a field across from a destroyed subdivision. The injured woman turned out to be Leatherman’s wife and officials aren’t sure if he knew who he was protecting in the darkness and chaos, the fire department said on social media.

St. Louis waits for FEMA St. Louis Mayor Cara Spencer said five people died, 38 were injured and more than 5,000 homes were affected by an EF3 tornado with winds up to 150 mph (240 kph) that slammed areas north and west of downtown Friday. Spencer has estimated that damages will exceed $1.6 billion.

“Eight miles of pure destruction, at times a mile wide,” Spencer said at a

See “Weather,” A7

PALESTINIANS struggle to get donated food at a community kitchen in Jabalia, northern Gaza Strip, Monday, May 19, 2025. AP/JEHAD ALSHRAFI

www.businessmirror.com.ph

Greece’s top diplomat calls war in Gaza a ‘nightmare’

By Edith M. Lederer The Associated Press

NITED NATIONS—The

Uworld is facing the most turbulent times since World War II, Greece’s top diplomat says, pointing to a crossroads in democracy and saying Europe is facing a “political identity crisis.”

In a wide-ranging interview with The Associated Press, Foreign Minister Giorgos Gerapetritis weighed in on two of the globe’s major conflicts, saying the “nightmare” and escalating death toll in Gaza must end and Greece stands by Ukraine.

He also noted that US President Donald Trump’s tariffs are not “good news.”

Here are some takeaways from Monday’s interview:

A crisis in democracy tied to inequality

GERAPETRITIS , whose country holds the rotating presidency of the UN Security Council this month, said inequalities between nations and people are challenging “the essence of democracy and the rule of law.” As a result, “we have turned into an era where populism and demagogues are essentially ruling the state,” he said.

He said global turmoil is also the result of technology and the world’s mobility, which mean every challenge—from pandemics to climate and migration—touches everyone. The upheaval also follows a crisis in overall global cooperation and belief in international organizations, which have failed to address challenges in recent years.

Nonetheless, Gerapetritis said, Greece believes “democracy has a self-corrective mechanism” and what’s needed at this challenging time is strong leadership in major nations and international organizations “to make people believe in the noble cause of being together in peace and prosperity.”

Europe is seeking resilience amid the war in Ukraine

THE Greek foreign minister said the European Union’s requirement that decisions be adopted unanimously by its 27 members—giving a single nation veto power—has become an obstacle.

On the other hand, he said, the veto reflects national interests that should be at the core of European politics.

At the moment, Gerapetritis said Europe is in a “political identity crisis.”

“It seems that on occasions, we forget what are the essential elements that brought us together as Europeans, and we do suffer from some divergences and conflict,” he said. “And now we’re suffering the post-shock syndrome after the war in Ukraine. So, I think Europe needs again to find its resilience and identity.” Greece stands by Ukraine because it supports the rule of law

and its sovereignty and territorial integrity, he said. As for EU and US sanctions against Russia over its invasion of Ukraine in February 2022, Gerapetritis said they have been only partially successful because Moscow has found ways to circumvent their impact. The economic penalties have not become “a turning point for peace,” he said.

Greece has good relations with both Israel and the Palestinians GERAPETRITIS said his country supports a two-state solution, has discussed it and Gaza’s reconstruction extensively with Israel and the Palestinians, and sees itself as an “honest broker.”

“We would like to be actively involved, but to be totally honest, it’s not a matter of who mediates, it’s a matter of stopping the nightmare,” he said.

Hamas’ killing of 1,200 people and taking of hostages from Israel on October 7, 2023, was absolutely inhumane, he said. Also, “I cannot really tolerate what is happening now in the Middle East,” he said, pointing to the more than 53,000 Palestinians killed in Gaza, mostly women and children, according to its health ministry, which doesn’t differentiate between civilians and combatants in its count.

Gerapetritis, who will preside at a Security Council meeting Thursday on protecting civilians in conflict, called for massive humanitarian aid for Gaza and a speedy ceasefire.

The first few aid trucks entered Gaza this week following nearly three months of an Israeli blockade of food, medicine and other supplies. Israel says a new distribution system will launch to prevent Hamas from accessing aid, which Israel says the militant group uses to bolster its rule in Gaza.

Looking for compromise on US tariffs

GERAPETRITIS said US-Greek ties are growing, citing investments by Amazon, Google, Pfizer and other companies, including in the energy field.

Tariffs imposed by the Trump administration haven’t had a major influence in the country, he said, “because we are not overexposed to that type of bilateral trade.”

But Greece is in favor of free trade, he said, and while “we do not consider that tariffs are good news … we do believe that there must be a modus vivendi,” a Latin phrase that in international relations often means a compromise between parties.

Trump imposed a 20% levy on goods from the EU amid a series of such moves against trading partners but later paused them to give a chance to negotiate solutions to US trade concerns. Countries subject to the pause will face Trump’s 10% baseline tariff.

Strikes on Gaza kill at least 60 people, health officials say as criticism against Israel mounts

By Wafaa Shurafa, Samy Magdy & Tia Goldenberg

The Associated Press

DEIR

AL-BALAH, Gaza Strip—

Israeli strikes pounded Gaza overnight and into Tuesday, hitting a family home and a schoolturned-shelter, and killing at least 60 people, Palestinian health officials said, as Israel pressed its war against Hamas despite mounting international condemnation.

Israel launched another major offensive in the territory in recent days, saying it aims to return dozens of hostages held by Hamas and destroy the militant group. More than 300 have been killed in since the start of the latest onslaught. Israel says it aims to seize Gaza and hold on to territory there, displace hundreds of thousands of people and secure aid distribution.

As the new offensive ramps up, Israel agreed to allow a limited amount of aid into the war-ravaged territory after a 2 1/2 months blockade that prevented the entry of food, medicine and fuel, among other goods. The blockade prompted warnings from food experts of a risk of famine.

Israeli Prime Minister Benjamin Netanyahu said he made the decision to let in minimal aid after pressure from allies, who he said couldn’t support Israel so long as “images of hunger” were coming out of Gaza.

Criticism of Israel’s conduct intensified Monday when allies Canada, France and the United Kingdom threatened “concrete actions” against the country, including sanctions, and called on

Israel to stop its “egregious” new military actions in Gaza.

Netanyahu rejected the criticism, saying it was “a huge prize” for Hamas’ October 7, 2023, attack that would invite more such violence.

So far, just a handful of trucks have been sent into Gaza, which UN agencies say is nowhere near enough to meet the massive need. Some 600 trucks a day had entered during a ceasefire earlier this year.

Israeli politician criticizes killing ‘babies as a hobby’ CRITICISM against Israel’s conduct in Gaza came also from inside the country, with a leader of Israel’s center-left politics saying on Tuesday that Israel was becoming an “outcast among nations” because of the government’s approach to the war.

“A sane country doesn’t engage in fighting against civilians, doesn’t kill babies as a hobby and doesn’t set for itself the goals of expelling a population,” Yair Golan, a retired general and leader of the opposition Democrats party, told Reshet Bet radio.

His comments were rare criti -

A PALESTINIAN man walks through the rubble of the Al-Zainati family’s home, which was destroyed by Israeli airstrikes in Khan Younis, Gaza Strip, on Thursday, May 15, 2025. AP/ABDEL KAREEM HANA

cism from within Israel of its wartime conduct in Gaza. Many Israelis have criticized Netanyahu throughout the war, but that has been mostly limited to what opponents argue are his political motives to continue the war. Criticism like Golan’s, over the war’s toll on Palestinian civilians, has been almost unheard.

Netanyahu swiftly slammed Golan’s remarks, calling them “wild incitement” against Israeli soldiers and accusing Golan of echoing “disgraceful antisemitic blood libels” against the country.

Golan, who donned his uniform during Hamas’ 2023 attack to join the fight against the raiding militants, previously sparked an uproar when as deputy military chief of staff in 2016, he likened the atmosphere in Israel to that of Nazi-era Germany.

Strikes pound Gaza

OVER recent days, strikes have pounded areas across Gaza and Israel has issued evacuation orders for Gaza’s second-largest city, Khan Younis, which endured a previous offensive that left vast destruction.

In the latest strikes, two in northern Gaza hit a family home and a school-turned-shelter, killing at least 22 people, more than half of them women and children,

WHO members adopt ‘pandemic agreement’ born out of

By Jamey Keaten The Associated Press

GENEVA—The World Health Organization’s member countries on Tuesday approved an agreement to better prevent, prepare for and respond to future pandemics in the wake of the devastation wrought by the coronavirus.

Sustained applause echoed in a Geneva Hall hosting the WHO’s annual assembly as the measure—debated and devised over three years—passed without opposition.

The treaty guarantees that countries which share virus samples will receive tests, medicines and vaccines. Up to 20% of such products would be given to the WHO to ensure poorer countries have some access to them when the next pandemic hits.

WHO Director-General Tedros Adhanom Ghebreyesus has touted the agreement as

according to the Gaza Health Ministry.

A strike in the central city of Deir al-Balah killed 13 people, and another in the nearby built-up Nuseirat refugee camp killed 15, according to the Al-Aqsa Martyrs Hospital. Two strikes in the southern city of Khan Younis killed 10 people, according to Nasser Hospital. There was no immediate comment from the Israeli military, which says it only targets militants and blames Hamas for civilian deaths because the group operates in densely populated areas. The war in Gaza began when Hamas-led militants attacked southern Israel, killing some 1,200 people, mostly civilians, and abducting 251 others. The militants are still holding 58 captives, around a third believed to be alive, after most of the rest were returned in ceasefire agreements or other deals.

Israel’s retaliatory offensive, which has destroyed large swaths of Gaza, has killed more than 53,000 Palestinians, mostly women and children, according to Gaza’s Health Ministry, which doesn’t differentiate between civilians and combatants in its count. Magdy reported from Cairo and Goldenberg from Tel Aviv, Israel.

disjointed global Covid response

Monday news conference. “We’re talking about thousands of buildings, thousands of families are being displaced.”

The city is awaiting a disaster declaration from the governor’s office as a first step to getting federal assistance.

US Sen. Josh Hawley, a Missouri Republican, expressed frustration over the federal response to a deadly March storm.

“I’m not happy about the fact we’re still waiting from all of that damage two months ago,” Hawley said.

Acting Federal Emergency Management Agency Chief David Richardson said last week he plans to shift responsibility for disaster recovery to states this year as part of an agencywide transformation and that FEMA would coordinate federal assistance “when deemed necessary.” Spencer said during a news conference Monday evening that emergency protocols put in place in 2021 were not followed, possibly preventing sirens being activated to warn residents about the tornado. She said it was not clear whose responsibility it was to let the community know about the emergency but that the fire department will do so moving forward. In Texas, several tornadoes touched down west of Fort Worth on Sunday, including an EF1 with peak winds of 105 mph (169 kph) that caused damage in and around Gordon, the weather service said Monday.

The Associated Press writers Jeffrey Collins in Columbia, South Carolina; Heather Hollingsworth in Mission, Kansas; Sarah Brumfield in Cockeysville, Maryland; Hallie Golden in Seattle and Jamie Stengle in Dallas contributed to this report.

inflicted huge costs “on lives, livelihoods and economies.”

“We—as sovereign states—have resolved to join hands, as one world together, so we can protect our children, elders, frontline health workers and all others from the next pandemic,” Luvindao added. “It is our duty and responsibility to humanity.”

TEDROS ADHANOM GHEBREYESUS, Director General of the World Health Organization (WHO), applauds as member countries approve an agreement to combat future pandemics, during the 78th World Health Assembly (WHA78) at the European headquarters of the United Nations in Geneva, Switzerland, Tuesday, May 20, 2025. MAGALI GIRARDIN/KEYSTONE VIA AP

“historic” and a sign of multilateralism at a time when many countries are putting national interests ahead of shared values and cooperation.

Dr. Esperance Luvindao, Namibia’s health minister and the chair of a committee that paved the way for Tuesday’s adoption, said that the Covid-19 pandemic

The treaty’s effectiveness will face doubts because the United States—which poured billions into speedy work by pharmaceutical companies to develop Covid-19 vaccines—is sitting out, and because countries face no penalties if they ignore it, a common issue in international law.

The US, traditionally the top donor to the U.N. health agency, was not part of the final stages of the agreement process after the Trump administration announced a US pullout from the WHO and funding to the agency in January.

Vance invites Pope Leo XIV to US amid push for Ukraine ceasefire negotiations

By Nicole Winfield & Jacquelyn Martin The Associated Press

ROME—US Vice President JD

Vance extended an invitation to Pope Leo XIV to visit the United States during a meeting at the Vatican on Monday ahead of the USled push for ceasefire negotiations in Russia’s war in Ukraine.

Vance gave the first American pope a letter from US President Donald Trump and the first lady inviting him. The Chicago-born pope took the letter and put it on his desk and was heard saying “at some point,” in the video footage of the meeting provided by Vatican Media.

Vance, who converted to Catholicism in 2019, also gave the Augustinian pope a copy of two of St. Augustine’s most seminal

works, “The City of God” and “On Christian Doctrine,” the vice president’s office said. Another gift: A Chicago Bears T-shirt with Leo’s name on it.

“As you can probably imagine, people in the United States are extremely excited about you,” Vance told Leo as they exchanged gifts.

Leo gave Vance a bronze sculpture with the words in Italian “Peace is a fragile flower,” and a coffee-table sized picture book of

the papal apartments in the Apostolic Palace. Leo noted that Francis had chosen not to live in them and added, “And I may live in, but it’s not totally decided.”

Vance led the US delegation to Sunday’s formal Mass opening the pontificate of the first American pope. Joining him at the meeting on Monday was Secretary of State Marco Rubio, also a Catholic, Vance spokesperson said. The two then also met with the Vatican foreign minister, Archbishop Paul Gallagher.

“There was an exchange of views on some current international issues, calling for respect for humanitarian law and international law in areas of conflict and for a negotiated solution between the parties involved,” according to a Vatican statement after their meeting.

The White House said Vance and Gallagher “discussed religious freedom, the persecution of Christians around the world and the shared commitment of President Trump and Pope Leo XIV to stop the killing in Ukraine and the Middle East.”

According to the photo of the

visits released by the Vatican, Leo’s brother, Louis Prevost, a self-described “MAGA-type,” and his wife, Deborah, joined the delegation during the visit.

The Vatican, which was largely sidelined during the first three years of Russia’s invasion of Ukraine, has offered to host any peace talks while continuing hu -

manitarian efforts to facilitate prisoner swaps and reunite Ukrainian children taken by Russia.

Trump said Monday that Russia and Ukraine will “immediately” begin ceasefire negotiations after what he described as an “excellent” call with Russian President Vladimir Putin that lasted more than two hours. He noted that

the Vatican “as represented by the Pope, has stated that it would be very interested in hosting the negotiations.”

‘Every effort’ on Ukraine LEO, the former Cardinal Robert Prevost, is a Chicago-born Augustinian missionary who spent the bulk of his ministry in Chiclayo, a commercial city of around 800,000 on Peru’s northern Pacific coast. Before his election, Prevost shared news articles on X that were critical of the Trump administration’s plans for mass deportations of migrants.

Vance was one of the last foreign officials to meet with Francis before the Argentine pope’s April 21 death. The two had tangled over migration, with Francis publicly rebuking the Trump administration’s deportation plan and correcting Vance’s theological justification for it.

The Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.

Trump says Russia-Ukraine ceasefire talks will begin immediately following call with Putin

By Zeke Miller, Josh Boak & Katie Marie Davies The Associated Press

WASHINGTON—Russia and Ukraine will “immediately” begin ceasefire negotiations, President Donald Trump said Monday after separate calls with the leaders of both countries meant to spur progress toward ending the three-year war. The conversations did not appear to yield a major breakthrough.

It was not clear when or where any talks might take place or who would participate. Trump’s announcement came days after the first direct engagement between Russian and Ukrainian delegations since 2022. Those negotiations Friday in Turkey brought about a limited exchange of prisoners but no pause in the fighting.

Ahead of the calls, the White House said Trump had grown

“frustrated” with both leaders over the continuing war.

Vice President JD Vance said Trump would press Russian President Vladimir Putin to see if he was truly interested in stopping the fighting, and if not, that the US could disengage from trying to stop the conflict. Trump later told reporters that he believed Putin was serious about wanting peace.

“The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of,” Trump said in a social media post.

Trump said the call with Putin was “excellent,” adding, “If it wasn’t, I would say so now, rather than later.”

Later, speaking to reporters in the Oval Office, he noted the process has “got very big egos involved, I tell you.”

“Big egos involved. But I think something’s going to happen and, if it doesn’t I’d just back away and they have to keep going,” Trump said. “This was a European situation. It should have remained a European situation.”

Trump also said he told Putin, “We’ve got to get going.”

Trump has struggled to end a war that began with Russia’s invasion in February 2022, a setback for his promises to quickly settle the conflict once he was back in the White House, if not before he took office.

‘Weary and frustrated’ HE’S grown weary and frustrated with both sides of the conflict,” White House press secretary Karoline Leavitt told reporters Monday before the calls.

The Republican president is banking on the idea that his force of personality and personal history with Putin will be enough to break any impasse over a pause in the fighting. He dangled the prospect of reduced sanctions and increased trade with Russia should the war end.

After the call, Putin said Russia was ready to continue discussing an end to the fighting after a “very informative and very frank” conversation with Trump. Putin said the

warring countries should “find compromises that would suit all parties.”

Moscow, he said, will “propose and is ready to work with” Ukraine on a “memorandum” outlining the framework for “a possible future peace treaty.”

But indicating that little had fundamentally changed about his demands, Putin said: “At the same time, I would like to note that, in general, Russia’s position is clear. The main thing for us is to eliminate the root causes of this crisis.”

Ukrainian President Volodymyr Zelenskyy said Monday that he reaffirmed to Trump that Ukraine is ready for a full and unconditional ceasefire. He urged the international community to maintain pressure on Moscow if it refuses to halt its invasion.

“Ukraine doesn’t need to be persuaded—our representatives are ready to make real decisions. What’s needed is mirrored readiness from Russia for such resultoriented negotiations.” Zelenskyy said.

Trump and Putin addressed each other by first names

RUSSIAN presidential adviser Yuri Ushakov, who previously served as Russian ambassador to the US, described the conversation as friendly, with Trump and Putin addressing each other by their first names.

“Trump said, ‘Vladimir, you can pick up the phone at any time, and I will be happy to answer and speak with you,’” he said.

Ushakov also said Trump and Putin could meet faceto-face at some point, but no timeline was set.

Putin and Trump also talked about a Russia-US prisoner exchange, which Ushakov said was “in the works” and envisioned Moscow and Washington releasing nine people each. Ushakov did not offer any other details.

Speaking before the call, Vance said Trump could walk See “Ceasefire,” A11

POPE Leo XIV meets with Vice President JD Vance, center, and Secretary of State Marco Rubio, left, on the occasion of their meeting at the Vatican, Monday, May 19, 2025. VATICAN MEDIA VIA AP

www.businessmirror.com.ph

Stocks, bonds and the dollar drift after latest downgrade to US government’s credit rating

By Stan Choe AP Business Writer

NEW YORK—After recovering from an initial jolt, US stocks, bonds and the value of the US dollar drifted through a quiet Monday following the latest reminder that the US government may be hurtling toward an unsustainable mountain of debt.

The S&P 500 edged up by 0.1% after Moody’s Ratings became the last of the three major credit-rating agencies to say the US federal government no longer deserves a top-tier “Aaa” rating. The Dow Jones Industrial Average added 137 points, or 0.3%.

Moody’s pointed to how the US government continues to borrow more and more money to pay for its expenses, with political bickering making it difficult to either rein in Washington’s spending or raise its revenue in order to get its ballooning debt under more control. They’re serious problems, but nothing Moody’s said is new, and critics have been railing against Washington’s inability to control its debt for many years. Standard & Poor’s lowered its credit rating for the US government in 2011. Because the issues are so well known already, investors have likely already accounted for them, according to Brian Rehling, head of global fixed income strategy and other analysts at Wells Fargo Investment Institute. They’re expecting “limited additional market impact” following the initial reactions to the Moody’s move. Stocks and US government

Taiwan president downplays tariff tensions with the US as ‘frictions between friends’

By Simina Mistreanu

The Associated Press

TAIPEI, Taiwan—The Taiwanese president said Tuesday that trade tensions between the United States and Taiwan are just “frictions between friends” in a show of optimism as tariff negotiations are underway with Washington.

US President Donald Trump imposed 32% tariffs on all imports from Taiwan as part of sweeping duties levied against all US trading partners last month. The tariffs on Taiwanese goods were subsequently lowered to 10% for 90 days to allow for trade negotiations. Officials from both sides held a first round of talks last month, to be followed by another one in the coming weeks.

In a speech marking his first year as president and focusing on Taiwan’s strategies to defuse the effects of US tariffs and military threats from China, Lai Ching-

bond prices at first fell sharply early in Monday’s trading, but they trimmed their losses as the day progressed. The S&P 500 went from a loss of 1.1% to a modest gain of 0.2% before drifting through the afternoon.

The move by Moody’s essentially warns investors globally not to lend to the US government at such low interest rates, and the yield on the 10-year Treasury briefly jumped above 4.55% early Monday morning. That number shows how much in interest the US government has to pay in order to borrow money for 10 years, and it was up sharply from 4.43% late Friday. But it later regressed to 4.45% as more calm returned to the market.

The yield on a 30-year Treasury bond briefly leaped above 5% before likewise receding, up from less than 4% in September.

The downgrade by Moody’s comes ahead of a tense period for Washington, where it’s set to debate potential cuts in tax rates that could suck away more revenue, as well as the nation’s limit on how much it can borrow.

If Washington has to pay more in interest to borrow cash to pay its bills, that could filter out and cause interest rates to rise for US households and businesses too, in

everything from mortgage rates to auto loan rates to credit cards. That in turn could slow the economy.

The downgrade adds to a long list of concerns that have already weighed on the market. Chief among them is President Donald Trump’s trade war, which itself has forced investors globally to question whether the US bond market and the US dollar still deserve their reputations as some of the safest places to park cash during a crisis.

The US economy seems to be holding up OK so far despite the pressures of tariffs, and hopes are high that Trump will even -

tually relent on his tariffs after striking trade deals with other countries. That’s a major reason the S&P 500 has rallied back within 3% of its all-time high after falling roughly 20% below that market last month.

But big companies have been warning recently they’re uncertain about the future. Walmart, for example, said recently that it will likely have to raise prices because of tariffs. That caused Trump over the weekend to criticize Walmart and demand it and China “eat the tariffs.” Walmart’s stock slipped 0.1%

Monday.

Other big retailers on the schedule to report their latest quarterly results this upcoming week include Target, Home Depot, Lowe’s and TJX Cos.

On the winning end of Wall Street was Novavax, which rose 15% after it said U.S. regulators approved its Covid-19 vaccine under some conditions. The approval triggered a $175 million milestone payment under the company’s collaboration agreement with Sanofi. All told, the S&P 500 rose 5.22 points to 5,963.60. The Dow Jones Industrial Average added 137.33 to 42,792.07, and the Nasdaq composite rose 4.36 to 19,215.46. In stock markets abroad, indexes were mixed amid mostly modest movements across Europe and Asia.

Indexes were close to flat in both Shanghai and Hong Kong after the Chinese government said retail sales rose less in April than expected. Growth in industrial output slowed to 6.1% year-onyear from 7.7% in March. In the foreign currency markets, the value of the US dollar fell against everything from the euro to the Australian dollar.

AP Writers Jiang Junzhe and Matt Ott contributed.

te struck an accommodating tone despite the tariff pressure.

The US and Taiwan have long “cooperated and have also encouraged each other to grow,” he said. “There are bound to be frictions between friends, but they can eventually be reconciled.”

“Even if there are differences of opinion, as long as there is a foundation of trust and sincere dialogue, they can understand each other better and deepen their friendship,” he added.

The US has traditionally been Taiwan’s strongest unofficial ally in the face of military threats by China, which considers the self-ruled island its own territory, to be retaken by force if necessary. Washington is bound by its own laws to provide Taipei with the means to defend itself.

Lai said Taiwan would continue to strengthen its national defense capabilities,

See “Taiwan,” A12

Continued from A10

away from trying to end the war if he feels Putin isn’t serious about negotiation.

“I’d say we’re more than open to walking away,” Vance told reporters before leaving Rome after meeting with Pope Leo XIV. Vance said Trump has been clear that the US “is not going to spin its wheels here. We want to see outcomes.” Zelenskyy, who spoke to Trump oneon-one before the Putin call and then

jointly with European leaders after, told reporters that he emphasized to Trump that no decisions should be made about Ukraine without involving Kyiv. He also said that he discussed the potential for “serious sanctions” on Russia.

Trump said the Vatican expressed interest in hosting the negotiations, but there was no immediate confirmation that any talks had been scheduled.

Trump tries the carrot—and stick—with Putin TRUMP sought to use financial incentives

Shares in China’s CATL, world’s biggest EV battery maker, surge in Hong Kong after $4.6 billion IPO

By Kanis Leung The Associated Press

HONG KONG—Shares in CATL, the world’s largest maker of batteries for electric vehicles, jumped more than 16% Tuesday in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest initial public offering this year.

The solid reception for the Chinese company, Contemporary Amperex Technology Co., in Hong Kong suggests there is still an appetite among international investors for leading Chinese manufacturers despite trade tensions between Beijing and Washington.

It sold more than 135 million shares at their maximum offer price, 263 Hong Kong dollars ($33.6) each. Its shares rose after they started trading at 296 Hong Kong dollars ($37.80), 12.5% higher than their offer price. They closed 16.4% higher.

CATL also has shares listed in Shenzhen, a business hub neighboring Hong Kong. They initially fell but then edged 1.2% higher.

A supplier to automakers like Tesla, Volkswagen, BMW, Mercedes-Benz, Ford, Toyota and Honda, CATL held a nearly 38% global market share for EV batteries in 2024, its listing documents showed.

The company has faced pres -

to broker some kind of agreement after Russia’s invasion led to severe sanctions by the United States and its allies that have steadily eroded Moscow’s ability to grow.

“Russia wants to do largescale TRADE with the United States when this catastrophic “bloodbath” is over, and I agree,” he said in a social media post. “There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth. Its potential is UNLIMITED.”

Trump’s treasury secretary, Scott Bessent, said Sunday on NBC’s “Meet the Press” that Trump had made it clear that

sure from the US. In January, the US Defense Department added it to a list of companies it says have ties to China’s military, an accusation that CATL denied. It called the inclusion a “mistake.”

In April, John Moolenaar, chairperson of the US House Select Committee on China, wrote to the CEOs of JPMorgan Chase & Co. and Bank of America to demand that the two American banks withdraw from their work on CATL’s IPO. But the two banks stayed on.

In the US, Ford Motor Co. is licensing technology from CATL to build batteries, but the plan faces resistance from some Republican lawmakers, who have expressed concern that the Chinese company could benefit from US tax dollars.

a failure by Putin to negotiate “in good faith” could lead to additional sanctions against Russia.

Bessent suggested the sanctions that began during the administration of Democratic President Joe Biden were inadequate because they did not stop Russia’s oil revenues, due to concerns that doing so would increase US prices. The United States sought to cap

Because the US has listed CATL as having ties to the US military, the share offering excluded onshore US investors. However, many large US institutional investors have offshore accounts that allowed them to participate.

The company said it plans to use most of the net proceeds from its IPO to build its factory in Hungary, meant to bring it closer to the manufacturing facilities of its main European customers. Government officials, including Hong Kong’s Financial Secretary Paul Chan, attended its gongstriking ceremony in the city’s vibrant business district, Central, on Tuesday. The company’s chairman Robin Zeng said his business is committed to becoming a zero-

carbon technology company.

“Listing in Hong Kong means we are more broadly integrated into the global capital markets, and it’s also a new starting point for us to promote the global zero-carbon economy,” Zeng said.

Zeng, who trained as a physicist, helped found Amperex Technology Ltd. in 1999. It mainly was engaged in research and development and manufacturing of consumer lithium batteries. The company was sold to Tokyolisted TDK Corporation in 2005, but Zeng continued to oversee the firm’s management until 2017, its listing documents say. In 2011, a team led by Zeng founded CATL, headquartered in the businessman’s hometown of Ningde in Fujian province in southeast China. The literal meaning of the company’s Chinese name is “Ningde Era.”

CATL says it has the broadest coverage of EV battery users globally, with its batteries installed in over 17 million EVs, or one in every three EVs worldwide, as of the end of 2024.

Terence Chong, executive director of the Lau Chor Tak Institute of Global Economics and Finance at the Chinese University of Hong Kong, said Hong Kong hasn’t seen an IPO of this size in a while and

See “China,” A12

ROBIN ZENG , chairman of Contemporary Amperex Technology Co. (CATL), center right, strikes the gong at the listing ceremony in Hong Kong, Tuesday, May. 20, 2025. AP/CHAN LONG HEI

TAIWAN President Lai Ching-te delivers a speech at the 80th Anniversary Commemoration Ceremony of Victory in Europe at Taipei Guest House, in Taipei, Thursday, May 8, 2025. AP/JOHNSON LAI

From Chicago to the Vatican: America’s fascination with the ‘regular guy’ Pope

By Ted Anthony AP National Writer

WASHINGTON—By the middle of last week, it became clear that something odd was happening. It was about the time that the fake video started circulating about the woman purporting to recount the “situationship” she’d had with Robert Prevost, the new American pope, decades ago when he was just another guy from Chicago.

We’d already seen Topps, the baseball-card company, issue a new card of Pope Leo XIV that was all over eBay. We’d heard about his affinity for the White Sox and seen a glimpse of him in the crowd at the 2005 World Series. And in the wake of online speculation over whether he favored the Chicago beef sandwich or Chicago-style hot dogs, we’d seen Portillo’s, a local eatery, name a sandwich after him—“”a divinely seasoned Italian beef, baptized in gravy and finished with the holy trinity of peppers.”

Then there was the Instagram video featuring two guys outlining the ways the new pontiff was a product of his upbringing: “The pope’s a Midwesterner. Bread and wine are now cheese and beer,” says one. Retorts the other: “The pope’s a Midwesterner. Collection baskets now accept Kohl’s cash.”

Popes: They’re just like us?

NOT exactly. The former Bob Prevost is hardly just another guy from Chicago. But you wouldn’t know that by the burst of American fanfare surrounding the newly minted Pope Leo XIV. He has been called out for his eating proclivities (Jimmy Fallon: “deep-dish communion wafers?”), for his sports affiliations, for his lively sibling relationships and more. Fake videos of him weighing in on basketball and Donald Trump in classic Midwestern ways are proliferating.

Why are we so focused on making sure the supreme leader of the Roman Catholic Church is also a regular guy from the Midwest? Some of it is pride, you betcha. But another answer lies in Americans’ peculiar and complex relationship

with fame and power that goes way back to the founding of the nation itself.

American ‘regular guy-ism’ began with the nation itself WHEN the United States became the United States in 1776, it rejected King George III, the crown’s taxes and the ornate accoutrements and sensibilities that surrounded royalty.

In its place grew democracy, effectively the cult of the regular guy. As the decades passed, the sensibility of “effete” royalty from back east—whether “back east” was England or, ultimately, Washington—became scorned. By the time Andrew Jackson’s form of populism began to flourish in the 1830s, the “regular guy” in the rising democratic republic became a revered trope. Thus, the tales of Abraham Lincoln growing up in a log cabin and splitting rails just like the rest of us—or, at least, the 19th-century rural American “rest of us.”

“Our culture is one that is based on the rejection of monarchy and class distinctions and yet is fascinated by monarchies and those who we see as set above and apart,” says David Gibson, director of the Center on Religion and Culture at Fordham University. “We want these figures to look up to but also to sit down with.”

And it has stayed that way, politically and culturally, right up until today.

Think about how the ideal presidential candidate has evolved from the time of, say, Franklin D. Roosevelt, an effete Easterner who favored a long cigarette holder, to today. Ronald Reagan talked in the homespun language of hearth and

BANKS

home. Bill Clinton played a sax and answered the time-honored question of “boxers or briefs.” George Bush, now a nondrinker, became “a guy you’d want to have a beer with.” (Jon Stewart famously shot that down by saying: “I want my president to be the designated driver.”)

This down-to-Earth sensibility was evident in the press conference that American cardinals held after Leo was elevated. No intense church music accompanied their entrance; instead, it was “American Pie” and Bruce Springsteen’s “Born in the USA”—foundational pillars of popular culture, with an emphasis on “popular.” The message: This is not a “back east” pope.

“Popes have always been alien— strangers,” says John Baick, an American historian at Western New England University. “We like and trust that he is one of us. The Midwest is the place of hard work, the place of decency, the place of listening, the place of manners. This is the person you want to sit on the other side of that diner on a Sunday morning.”

He places Leo’s ascension as a bookend to John F. Kennedy’s election in 1960—a resounding signal, this time globally, that Catholicism is compatible with Americanism.

But as for the “he’s one of us” approach, that says more about the people watching Leo than about the actual pope. “He has done none of this himself,” Baick says. “The connections are things that we have desperately created. We are so desperate for normalcy, for

a regular guy.”

This guy is far more than the pope next door AND yet ...

Americans famously adored Princess Diana, “the people’s princess.” People like the Kennedys and Grace Kelly—before she became an actual princess—were referred to as “American royalty.”

And even though we’re a long way from the days of Bogie, Bacall and Greta Garbo—a generation into the “Stars: They’re Just Like Us” era—Americans still love to put people on pedestals and bring them back down, sometimes at the same time.

The latest iteration of this is tied to reality TV, which took regular people and turned them into personalities, figures, commodities.

“This country is positioned as a place where anybody can succeed. It plays directly into that—the regular person who succeeds on a large scale,” says Danielle Lindemann, author of “True Story: What Reality TV Says About Us.”

“We’re kind of obsessed with this everyday Joe who is plucked from obscurity and becomes famous. In the United States, that’s a salient and dominant narrative,” says Lindemann, a professor of sociology at Lehigh University in Pennsylvania. “We almost feel like we have relationships with these people. We’re getting so much personal information about him, and it facilitates that sense of closeness.”

Prevost, of course, is not your

average Midwesterner. His Spanish, among other tongues, is fluent. He spent two decades in Peru, where he also holds citizenship (and where, it must be said, there is footage of him singing “Feliz Navidad” into a microphone at a Christmas party). And there’s that small matter that he is now the head of a global church of 1.4 billion souls.

So, a new era begins for both the United States and the Catholic Church—an age-old hierarchy and a society that demands egalitarianism, or the appearance of it, from the people it looks up to. And at the intersection of those two principles sits Robert Prevost, Pope Leo XIV, an accomplished man in his own right but also an empty vessel into which broad swaths of humanity will pour their expectations—be they about eternity or simply the South Side of Chicago.

“Popes want to connect with people, and the church wants that as well. But the peril is that such familiarity breeds not so much contempt as disobedience,” Gibson says.

“The pope is not your friend. He is not going to sit down and have a beer with you,” he says. “If you think the pope is your pal, will you feel betrayed when he reminds you of your religious and moral duties, and chides you for failing to follow them?”

Ted Anthony, director of new storytelling and newsroom innovation for The Associated Press, has been writing about American culture since 1990.

“We

Taiwan’s

of

in

production late last year. However, Lai’s controversial proposal to completely remove tariffs on US goods “on the basis of reciprocity,” in addition to bumping up procurement of US products, triggered protests last week by Taiwanese farmers.

The Associated Press video journalist Johnson Lai in Taipei,

year-on-year in 2024 following a double-digit decrease in 2023, according to Yujia Li, an analyst at the Hong Kong Financial Research Institute of the Bank of China.

CATL recorded a profit of 55.3 billion yuan ($7.6 billion) in 2024, up 16.8% from 2023. Its listing surpassed JX Advanced Metals’ $2.9 billion IPO in Japan in March, which was previously the largest this year, according to Renaissance Capital, a provider of pre-IPO research and IPOfocused ETFs.

The Associated Press writers Damian Troise in New York and Didi Tang in Washington contributed to this report.

After a political career shaped by cancer, Joe Biden faces his own grim diagnosis

By Chris Megerian The Associated Press

WASHINGTON—In Joe

Biden’s family, there’s a saying that the three worst words anyone can hear are “you have cancer.”

One decade ago, his son Beau died from a brain tumor. Several years later, his wife Jill had two cancerous lesions removed in her own brush with the disease.

Now it is the former president’s turn. Biden’s office disclosed his prostate cancer diagnosis over the weekend, saying it has already spread to his bones.

Although the cancer can possibly be controlled with treatment, it is no longer curable. The announcement is a bitter revelation

that a disease that has brought so much tragedy to Biden’s life could be what ends it.

“Cancer touches us all,” Biden wrote on social media. “Like so many of you, Jill and I have learned that we are strongest in the broken places.”

Even before the diagnosis, Biden’s post-presidency was shadowed by questions about his health and whether he should have run for reelection. As questions about his fitness for office mounted, he abandoned the campaign and Donald Trump retook the presidency by defeating Kamala Harris. As the 82-year-old Biden works to safeguard his damaged political legacy, he’ll also be fighting a disease that shaped the final chapters of his decades-long career.

Biden was serving as Barack Obama’s vice president when Beau died in 2015. He decided not to seek the Democratic nomination the following year, which helped clear a path for Hillary Clinton, who lost to Trump in 2016.

Valerie Jarrett, a longtime Obama adviser, said Biden wanted to “channel his grief into action and figure out how we can do better” on treating cancer to “make sure that other people didn’t have to go through what he went through.”

The effort was formalized as a White House task force, with Biden in charge. After a few years out of office, Biden re-entered politics to campaign against Trump in 2020. The heartache from Beau’s death was never far from the surface

though. His eldest son had been Delaware’s attorney general and often viewed as Biden’s political successor.

“Beau should be the one running for president, not me,” Biden said, a thought he echoed on many occasions.

He made fighting cancer a focus for his presidency, resurrecting a “moonshot” initiative to increase funding for research and improve treatment. He unveiled the initiative at the John F. Kennedy Presidential Library and Museum in 2022, echoing the Democratic icon’s famous speech declaring that “we will go to the moon” six decades earlier.

“Beating cancer is something we can do together,” Biden said. By this point, he had already

signed legislation known as the PACT Act to expand healthcare benefits for veterans. The law guarantees treatment for chronic illnesses blamed on burn pits, which were used to dispose of chemicals, tires, plastics, medical equipment and human waste on military bases.

Biden left no doubt that he believed Beau’s death resulted from his service with the National Guard in Iraq.

“When they came home, many of the fittest and best warriors that we sent to war were not the same—headaches, numbness, dizziness, cancer,” he said. “My son Beau was one of them.”

Denis McDonough, who led the Veterans Affairs Department under Biden, said the president didn’t talk about Beau’s death

during policy discussions. But he said it was clear that Biden “knew the experience that other families were having, and he was going to be damn sure that we weren’t going to miss an opportunity to address that.” McDonough recalled that Biden wanted the new law to take effect as quickly as possible.

“He had an option to stretch it out,” he said. “He said no way.” The following year, first lady Jill Biden had two cancerous lesions removed, one above her right eye and the other on her chest. They were both basal cell carcinoma.

Learning of the diagnosis “was a little harder than I thought,” she told The Associated Press during a trip to Africa.

THE Chicago White Sox honors Pope Leo XIV on the scoreboard before a baseball game against the Miami Marlins, Friday, May 8, 2025, in Chicago. AP/DAVID

Jobs crisis worsens: Labor groups urge new lawmakers to address deepening insecurity

By Justine Xyrah Garcia

ABOR advocates are call -

Ling on the country’s newlyelected senators and district representatives to address the worsening jobs crisis and push for stronger protection of workers’ rights, as employment figures show deepening labor insecurity across sectors.

The Center for Trade Union and Human Rights (CTUHR) said on Monday that the post-election transition is a crucial moment for incoming lawmakers to confront

DTI confiscated P134.4M of uncertified electrical products from 2023 to April ‘25

By Andrea San Juan @andreasanjuan

IN a “strong” move to protect Filipino consumers from fire and electrocution risks, the Department of Trade and Industry (DTI) said it has confiscated 382,290 units of uncertified electrical products worth P134.4 million from 2023 to April 2025

This haul, DTI said, includes units of lighting equipment, wiring cables and devices, consumer electronics, and household appliances.

The Trade department noted that these were confiscated for lacking the mandatory Philippine Standard Quality and/or Safety Mark, and the Import Commodity Clearance stickers.

In observance of National Electrical Safety Month this May, DTI Secretary Cristina A. Roque urged the public and industry stakeholders to prioritize safety across the entire electrical and electronic goods.

“This includes responsible manufacturing, stringent quality control during importation, and diligent retail practices to ensure paramount safety for every consumer purchase,” Roque said.

DTI said in the first four months of 2025 alone, it was able to seize 6,987 units of uncertified electrical products worth P1.06 million.

In 2024, the Trade department confiscated 358,717 units worth P129.80 million while in 2023, it seized 16,586 units of illegal electrical products worth P3.56 million.

Proclaimed under Presidential Proclamation No. 193, issued on June 27, 2011, Electrical Safety Month is observed every May to raise public awareness of electrical safety practices and prevent accidents and economic losses caused by electrical hazards, DTI noted.

Under this, the DTI’s Bureau of Philippine Standards (BPS)—as the National Standards Body of the Philippines—is tasked with developing, promulgating, and implementing the standardization of electrical products.

For its part, the DTI’s Fair Trade Enforcement Bureau (FTEB) conducts market inspections and seizes uncertified items that pose risks of fire, injury, and fatality.

“This initiative reflects our enduring commitment to Filipinos from risks associated with unregulated and non-compliant products. The DTI, in partnership with informed consumers, responsible businesses, and proactive industries, advocates for quality and safety in the market,” said DTI-Fair Trade Group Supervising Head and Assistant Secretary Agaton Teodoro Uvero, who led the operations of the BPS and the FTEB.

Tthe country’s labor problems headon, particularly the erosion of decent work and the growing number of Filipinos falling into informal and vulnerable employment.

Based on labor estimates from the Philippine Statistics Authority, the total number of employed individuals dropped from 49.15 million in March 2024 to 48.02 million in March 2025.

Underemployment also remained elevated, with 6.44 million Filipinos—about 13.4 percent of the employed population—reporting that they were seeking

additional work as of March 2025. This marks an increase from the 11 percent underemployment rate recorded in the same period last year.

Sectors with the most significant job losses include agriculture and forestry, which shed 609,000 jobs; manufacturing, which lost 281,000; and wholesale and retail trade, which declined by 175,000.

CTUHR said the sharp drop in job numbers is alarming, especially since employment typically increases before the elections.

“The present jobs crisis is so bad that even this increase failed

to counter the downward trend. We have to remember that the jobs crisis is happening amidst the global cost of living crisis,” the group said in a statement.

It also warned that the crisis is pushing more Filipinos into lowpaying, insecure, and unregulated work, making them vulnerable to labor rights violations.

“Widespread unemployment is bad news for labor rights. It emboldens employers to press down wages, expand contractual employment, prevent unionization and generally roll back workers’

Hospitals face ₧7 billion in unpaid bills due to MAIFIP delays after polls; seek DOH help

THE Private Hospitals Association of the Philippines Inc. (PHAPI) has expressed worries following the delayed payments under the government’s Medical Assistance for Indigent and Financially Incapacitated Patients (MAIFIP) program after some politicians, sponsoring the medical services, were voted out of office after the 2025 midterm polls.

Some of PHAPI members are still waiting for at least P7 billion worth of previously unsettled hospital bills of patients sponsored by some defeated political candidates.

However, in a news television interview on Tuesday, PHAPI president Dr. Jose de Grano said that they already sought the help of

Health Secretary Teodoro Herbosa regarding their dilemma.

“At sinabi naman po niya [Herbosa] na dinirekta na niya ang incharge mismo sa MAIFIP na ayusin na ang pagbabayad,” De Grano said.

De Grano noted that the politicians should pay within 60 days after they issued their guarantee letter Claudeth Mocon-Ciriaco

DMW ready to support OFWs as Covid-19 cases rise in Asia

By Samuel P. Medenilla @sam_medenilla

MID the rise in Corona Vi -

Arus Disease-19 (Covid-19) cases in some Asian countries, the Department of Migrant Workers (DMW) said it is ready to extend aid to overseas Filipino workers (OFW), who may be infected by it abroad.

“The DMW Migrant Workers Offices in the region are also ready to provide all the necessary assistance and support to the OFWs who may be needing assistance on their urgent concerns and issues,” the agency said in a statement issued last Tuesday.

DMW made the assurance as Covid-19 cases rise in Singapore, China, Hong Kong and Thailand.

Experts attributed the increasing cases to the waning immunity, lower booster shots, and the spread of the descendant strains of JN.1 variant among the affected population.

DMW Secretary Hans J. Cacdac said President Ferdinand Marcos expressed concern over the said development.

He said the President wants to ensure the safety and welfare of OFWs from the said disease.

“We are just reiterating these health advisory reminders of the DOH [Department of Health], especially for our OFWs to take care of themselves, and to continue following their host countries’ health and safety protocols,” Cacdac said.

He also urged them to prioritize

their health and well-being by maintaining a healthy lifestyle.

DOH urged the public to practice basic health protocols to prevent the spread of Covid-19 and other communicable diseases, such as wearing face masks in healthcare facilities and staying home when sick.

It also urged them to cover mouth when coughing or sneezing; regularly wash hands with soap and water; and seeking early medical consultation for symptoms.

As of 3 May 2025, the Philippines has recorded Covid-19 cases in both cases and fatalities dropped by 87 percent to 1,774 cases from 14,074 cases year-onyear. This was lower compared to other Asian countries.

Comelec flags 64.5 metric tons campaign waste in Metro Manila

AT LEAST 64.5 metric tons of campaign materials were collected in Metro Manila after the elections, the Commission on Elections (Comelec) said on Tuesday.

Comelec Chairman George Erwin M. Garcia made the announcement following an inspection of the campaign material disposal site at the Payatas Disposal Facility in Quezon City.

“In Metro Manila alone, the [Metropolitan Manila Development Authority] reported that 64.5 metric tons of campaign materials were collected. That doesn’t even cover the entire country. Imagine how many metric tons that would amount to nationwide,” Garcia said in Filipino. Beyond the volume of waste, Garcia also flagged the toxicity of the materials used by candidates during the campaign period.

According to the EcoWaste Coalition, lab tests showed that some campaign materials contained chemical levels as high as 700 parts per million (ppm)—well above the international safety threshold of 100 ppm.

“That’s toxic… If those materials are reused or end up in places accessible to children or the elderly, that’s dangerous,” Garcia warned.

He called on local government units to take the lead in upcycling campaign materials, stressing that the Comelec alone cannot handle the environmental aftermath of elections.

“Please help us… The trash produced by the election becomes just more trash before the next election. If it’s not disposed of properly, another election will come—this December,” he added.

Garcia also reminded candidates, whether they won or lost. that they were required to remove all their campaign materials five days after election day, or by May 17. Those who fail to comply may still face legal consequences as the Comelec’s Task Force Baklas continues to monitor for violations.

“We’ve asked our local Comelec offices to report those who haven’t removed their materials. Notices have been issued. But we shouldn’t even have to send notices...it’s clearly stated in the law,” Garcia said.

Under election laws, Comelec can file election offense cases against violators until June 30, before the elected officials assume office.

Beyond that date, criminal charges may still be filed depending on the violation.

Justine Xyrah Garcia

rights. While workers will surely assert their rights, many will also become more pliant and desperate and accept poor working conditions,” CTUHR addd.

Despite a few opposition candidates making it to the Senate, CTUHR noted that “most” of the lawmakers in the 20th Congress remain affiliated with “political dynasties or the current and previous administrations,” whose policies have long been criticized for failing to protect labor rights.

CTUHR said the government must shift away from the current

economic framework and begin actively investing in job creation through industrialization, land reform, and expanded public services.

It stressed that existing strategies are no longer sustainable amid overlapping social and economic crises.

“The Philippine government should pay attention to alternatives being proposed by different sectors of society....Existing policies have failed and are further showing their weaknesses amidst multiple crises,” the group added.

PHL to lead World Health Assembly

By Claudeth Mocon-Ciriaco @claudethmc3

THE Philippines, represented by Health Secretary Teodoro J. Herbosa, has been elected as the President of the 78th World Health Assembly (WHA) held in Geneva, Switzerland on May 19.

“I would like to thank this Assembly for their trust in electing me as the President of the 78th World Health Assembly,” Herbosa said in his brief speech during the opening of the event as he also thanked his predecessor, Dr. Edwin G. Dikoloti the Health Minister of the Republic of Botswana.

The theme of this year’s Assembly is “One World for Health.”

Meanwhile, the final adoption of the World Health

Organization Pandemic Agreement Resolution, received an approval on the first day of the WHA, after garnering 124 votes.

The Pandemic Agreement is a landmark accord aiming to address the gaps and inequities exposed during the Covid-19 pandemic and to strengthen global collaboration for preventing, preparing for, and responding to future health threats.

NAPOLCOM leads PHL delegation to the 34th UN Session on Crime Prevention and Criminal Justice

THE National Police Commission (NAPOLCOM) took the global stage as Vice Chairperson and Executive Officer (VCEO) Atty. Rafael Vicente R. Calinisan, together with NAPOLCOM Commissioner Josephus G. Angan, led the Philippine Delegation to the 34th Session of the United Nations Committee on Crime Prevention and Criminal Justice (CCPCJ) held at the Vienna International Centre, Vienna, Austria.

Representing the Philippines, VCEO Calinisan delivered the official Philippine Statement, emphasizing the country’s intensified efforts in promoting peace, order, and justice through the newly approved 2025 National Crime Prevention Program (NCPP). The NCPP champions a whole-of-government and whole-of-society approach, aiming to reduce criminality, address its root causes, and build safer, more resilient communities.

In his statement, VCEO Calinisan declared: “The Philippines will continue to champion people-centered, inclusive, and preventive approaches to crime and justice—where safety and dignity are upheld for all,” adding that “The 2025 National Crime Prevention Program is our commitment to protect lives, restore trust, and uphold the rule of law for every Filipino,” VCEO Calinisan said.

NAPOLCOM’s participation reaffirms the Philippines’ active role in international cooperation on justice and security, contributing to a safer global community.

The Philippine delegation is composed of representatives from the Department of Justice (DOJ), the Department of Information and Communications Technology (DICT), and the Department of Foreign Affairs (DFA) including the Philippine Embassy in Vienna.

HEALTH Secretary Teodoro J. Herbosa

H5N9 outbreak could cripple poultry sector, disrupt the country’s food supply chain

THE Bureau of Animal and Industry’s (BAI) recent announcement of the detection of the H5N9 avian influenza strain in duck samples in Camarines Sur is a reminder to all stakeholders, including consumers, that animal diseases like bird flu continues to pose a threat to livestock and poultry production. BAI, an attached agency of the Department of Agriculture (DA), said the DA office in Region 5 had activated its command center and convened its quick response team to enforce control protocols. (See, “BAI finds H5N9 bird flu strain in Camarines Sur,” in the BusinessMirror, May 7, 2025). The goal is to prevent the virus from ravaging other farms in the region and ensure that it does not spread to other parts of the country.

BAI said subtype H5N9 poses low risk to humans, but is highly pathogenic in birds, which means it causes high death rates in birds when infected. This prompted the agency to appeal to the public, particularly raisers, to report unusual poultry deaths in their areas. The spread of the virus in the region and other parts of the country will not only bring the poultry subsector to its knees but also disrupt the agricultural supply chain.

Virus outbreaks at this time will cause prices of meat products like pork to spiral out of control.  As it is, the Philippines is already grappling with a pork shortage due to African swine fever (ASF)—an animal disease that is fatal to hogs. Since it was first detected in 2019, raisers could not significantly increase their output as the disease continually threatens efforts to recover from ASF’s devastation.

Because of the supply shortfall, the government has decided to temporarily suspend the implementation of the maximum suggested retail price (MSRP) for pork. The DA said MSRP was lifted following the clamor of hog raisers to sell their product beyond the MSRP of P230 per kilo. (See, “DA lifts MSRP for pork,” in the BusinessMirror, May 15, 2025). The government had hoped that the MSRP scheme would result in more stable pork prices, which have reached unprecedented levels in recent months.

Pork is the favorite protein source of Filipinos, but its steep price tag has discouraged them from buying the product, and reducing their consumption. The government encouraged consumers to shift to other protein sources or to buy frozen pork, which is imported and is cheaper. The consumption of other protein sources, such as chicken, has caused the price of poultry to go up, which could serve as an incentive for raisers to grow more poultry. (See, “Vitarich earnings surge on higher chicken prices in Q1,” in the BusinessMirror, May 14, 2025).

That is why the detection of H5N9 is a major concern for all stakeholders, including consumers. All stakeholders, especially raisers, must enhance their vigilance and act promptly if they suspect their farms are infected with bird flu. The Philippines would do well to keep in mind the experience of the United States, which saw record-high egg prices as farmers were forced to cull 166 million birds, mostly egg-laying chickens, to halt the spread of bird flu.

Agri infrastructure

OTHE BUILDER

UR agricultural sector seems to be on the upswing after being a laggard in the economy for quite some time. This development is certainly good news considering that the vast majority of our population reside in the countryside and rely on agriculture for a living.

A n uptick in agricultural production means our farmers and fisherfolk have an extra income to spend compared to the previous comparative period. Increased farm, livestock and fish production also leads to lower food prices and gets us closer to achieving our food security goal.

Agriculture output, per the report of the Philippine Statistics Authority (PSA) early this month, grew 1.9 percent in the first quarter of 2025, led by stronger crop, poultry and fisheries production.

Higher food production has also helped temper consumer prices. A drop in rice prices, along with slower increases in the cost of vegetables, fruits and poultry, has contributed to a sharp decline in inflation, which eased to 1.4 percent in April, the lowest level since November 2019.

The growth clearly signals a recov-

ery for the sector, which contracted 1.6 percent in 2024 and by 1.8 percent in the final quarter of the year.

Our hard-working Agriculture Secretary Francisco Tiu-Laurel Jr. is naturally pleased with the outcome. Mr. Tiu-Laurel is optimistic that the recovery in the first quarter signals momentum for the latter half of the year.

Our agriculture chief noted that the recovery could be sustained with the completion of infrastructure facilities, like cold storage and rice processing systems.

Infrastructure facilities, if I may say so, are a key component for a more vibrant agriculture. Sturdier roads and bridges, in addition to more and modern post-harvest facilities, translate into lower transportation costs for farmers, higher profits and fewer losses from delays or spoilage.

Consumers benefit as well in terms of more stable prices and a secure food supply.

As Mr. Tiu-Laurel pointed out, better infrastructure enables a more efficient supply chain and lowers the costs from farm to market.

Agriculture relies heavily on logistics. Transport infrastructure certainly lowers the cost and improves the efficiency of moving farm inputs and produce.

The Department of Public Works and Highways (DPWH), which I headed before, plays a key role in upgrading roads and bridges, especially in major agricultural-producing areas. Its role is also crucial in achieving the food security target of President Ferdinand R. Marcos Jr. Transport infrastructure in the Philippines is in a quandary because of excessive overloading of trucks. Our farmers and traders, and I don’t blame them, want to reduce logistics costs—but the overloading can weaken roads and bridges.

I am sure the DPWH realizes the challenges being faced by our farmers and traders. More durable roads will reduce transportation costs, like in neighboring countries such as Thailand and Vietnam.

Agricultural trucks in Thailand and Vietnam may carry eight to 10 tons more than the 41-ton set limits in the Philippines.

“The importance of a strong road and bridge network in agriculture,

especially in an archipelago like the Philippines, cannot be overstated,” said Tiu-Laurel. “Agriculture relies heavily on logistics, and transport infrastructure directly affects the cost and efficiency of moving farm inputs and produce.”

Our agriculture chief is on the right track in prioritizing infrastructure investments to make the farm sector more productive.

The Department of Agriculture (DA) is seeking the establishment of vital rural infrastructure, such as farm-to-market roads, irrigation systems, post-harvest facilities, storage tolling, processing and marketing facilities, in partnership with the private sector and concerned agencies and local government units (LGUs).

The DA, in addition, is tasking the private sector and LGUs to create food hubs and efficient transport and logistics systems.

With better and modern infrastructure facilities that will aid our farmers, fisherfolk and livestock producers, I am confident the Philippines will attain its food security goal.

Increasing the productivity in the countryside through investments in agriculture infrastructure ensures an inclusive Philippine economy.

For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

How access to books can transform literacy in our country

By Maria Victoria “Chona” Lagoutte

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 Benjamin V. Ramos Aldwin Maralit Tolosa

Rolando M. Manangan

MANY of us were stunned to learn from a recent report by the PSA and the Second Congressional Commission on Education (EDCOM 2) that nearly 19 million Filipino high school graduates are functionally illiterate: They can read words but struggle to understand what they read. This raises an important question: How did this happen?

Over the past decade, through my pro-bono work training public school teachers in the Philippines, I have come to deeply admire the dedication of these educators. They pour their time and energy into teaching children how to read. Yet, I have also witnessed firsthand why many Filipino children fail to truly learn to read.

Picture this: A Grade One teacher stands before a class of 40 students, using a microphone. On the blackboard is a sentence. She asks the students to name the sounds of the letters and words. The class shouts the answers in unison. Some children are eager, some are daydreaming, a few are asleep, and one even in tears —reflecting the many challenges a teacher faces in the classroom. The lesson moves on to other letters. At the end, the teacher asks, “Naintin-

dihan po ba?” and the class responds loudly, “Opo.” This is a typical reading class.

This scene plays out in classrooms across the country. Children are taught to read, yet many have never been read to or even held a book. Teachers work with very limited resources. They receive a curriculum that outlines what competencies to achieve, but little guidance on how to teach them. As a result, they rely on their own knowledge and whatever materials they can find:  downloaded PDFs, brief excerpts or, if resourceful, stories they write and illustrate themselves before photocopying them. How can children learn to read effectively without books to actually read? When I was a grade one teacher in an international school, my grade one students read about

30 books a week. For many Filipino children, reading materials are limited to worksheets and short passages. Where is the joy of discovery, the chance to think about characters, or the opportunity to immerse themselves in stories that build vocabulary and comprehension? For many Filipino children, reading is not purposeful—it’s a task.

So what do children need to truly learn to read and grow into active, engaged citizens?

The literacy journey begins long before a child enters school. As soon as a baby can sit up, they can be “read to.” A parent’s voice helps develop auditory discrimination, a key language skill. The pictures stimulate the child’s mind, laying the groundwork for comprehension. This early exposure ignites what literacy expert Mem Fox calls the “spark of literacy.” When children experience books at home—laughing, wondering, sighing with an adult—they develop focus, independence, curiosity, and a deep understanding that books are meaningful and enjoyable.

But many Filipino children lack this foundational experience. Our schools must fill this gap by provid-

ing a variety of books, starting in our child development centers  for children aged 0-4. Teachers should read stories daily; Mem Fox recommends children hear at least 1,000 stories before they learn to read. Children should also have access to small books they can explore independently, holding them in their hands and turning pages.

A complete literacy program includes different types of books (NOT textbooks). When children enter kindergarten, they should begin exploring leveled books that are designed to encourage “trying” to read. Early levels use repetition to build confidence, while later levels introduce more complex vocabulary and ideas, allowing children to learn independently. In elementary school, students need at least 30 minutes daily, immersed in leveled books, which teachers use to teach vocabulary, comprehension, and word recognition. Kindergarten and elementary students also need decodable books to build word recognition skills. Decodable books are very simple texts that introduce letters and sounds in a very controlled sequence. Though simple and repetitive, these books See “Lagoutte,” A15

Mark Villar

France touts record foreign investment at Macron’s summit

By Tara Patel, William Horobin & Samy Adghirni

FRENCH President Emmanuel Macron will tally more than €40 billion ($45.1 billion) in foreign investment at an annual gathering with business leaders, seeking to send an upbeat message as the slow-growing economy faces headwinds from US trade tariffs.

Of the total, more than €20 billion was already announced at a separate AI summit in February.

The projects are being unveiled Monday at the “Choose France” summit, which will bring together top executives including Goldman Sachs’ David Solomon and Mubadala’s Khaldoon Al Mubarak at the gilded Château de Versailles near Paris.  Finance Minister Eric Lombard said the total investment sets a record for the event that Macron initiated seven years ago in an effort to re-industrialize the country.

“This is part of the redevelopment, redeployment of French industrial might even though the number of jobs created isn’t yet tallied,” he said on RTL radio. “We think that with these investments, we can restart on the offensive on employment.”

Revolut Ltd., Europe’s largest digital bank, is among the firms that announced fresh investment in France.

The bank said Monday it is setting up its new western European headquarters in Paris and will invest more than €1 billion in the country. The London-based firm said it will apply for a local banking license.

In a joint announcement, Bpifrance, Mistral, Nvidia and UAEbased MGX, a $100 billion investment vehicle, said they will develop an open AI campus near Paris, combining data centers, education, and research. Earlier this year, the UAE pledged to invest up to €50 billion in a new AI facility in France.

French industry minister Marc Ferracci over the weekend said in a social media post that Circ, a US textile recycling startup, will invest €450 million in eastern France to build its first industrial plant, while China’s Windrose Technology Inc. will invest €175 million to manufacture electric trucks in France.

Daimler Truck Holding AG is injecting €92 million to expand its operations in France, Macron said before meeting CEOs at the summit Monday.

The investment conference will see hundreds of business leaders from 46 countries gathered in Versailles, according to the Elysee. In

Lagoutte

. . .

continued from A14

help children master phonics and decoding, gradually increasing in difficulty to develop fluent word recognition—a crucial foundation for strong comprehension.

A classroom filled with a variety of books is a proven way to improve reading and writing skills. It’s a straightforward, research-backed solution. Yet, despite this clear need,

Britain’s

Precent years, Macron has personally played host to foreign investors, including CEOs, pitching the country as being business friendly. The French president came to power in 2017 on a pro-business platform and has overseen reforms to the nation’s famously rigid labor code along with a reduction in corporate tax.

“We would not have come to Paris except for President Macron,” JPMorgan Chase & Co. chief executive Jamie Dimon said last week in Paris recounting how the lender settled on the French capital as its post-Brexit hub.

The summit comes at a difficult moment for France’s economy however, which is tackling a gaping public deficit and a low-growth environment. US President Donald Trump’s punishing tariffs on the EU—currently on pause—have cast a cloud over the economic outlook.

Data last week from consulting firm EY showed that foreign investment in Europe continued to fall in 2024.

Even so, foreign investment remains a relative bright spot. While the total number of projects declined last year in France compared to the year before, the country remains the leading destination for global investors in Europe, according to EY’s latest ranking.

EY’s measures also showed money from abroad is creating fewer jobs in the continent than in prior years. In France, unemployment has been hovering around 7.4 percent for the past year, making it very unlikely Macron will hit his full-employment goal by the end of his second term in 2027.

Concerns also remain over businesses pivoting to the US in the face of tariffs and a more favorable business environment across the Atlantic. Sanofi’s recent pledge to invest at least $20 billion in the US through 2030 “sends a bad signal,” Lombard said last week.

The drugmaker has set out plans that include a “significant increase” in research and development spending, and billions of dollars devoted to US manufacturing. With assistance from Francois de Beaupuy/Bloomberg

many Filipino classrooms still teach reading without providing books.

Nearly 19 million Filipinos struggle with reading comprehension despite having graduated from basic education. This means it’s time to rethink how we teach reading. Every child has the right to learn to read. That means every child deserves access to many different kinds of books in school, every day.

Maria Victoria “Chona” Lagoutte is the founder of Give Me A Book Foundation.

EU reset

RIME Minister Keir Starmer heralded a “landmark deal” between the UK and the European Union on Monday that he billed as a reset moment for relations under his government. Still, with many details unresolved, Brexit never quite seems to be over.

Starmer said an agreement to ease border checks on agri-food products would drive down prices at supermarkets and add some £9 billion ($12 billion) to annual GDP by 2040. For its part, Brussels secured 12 years of ongoing access to British fishing waters on existing terms following a late concession from the UK.  Starmer sold the deal as a “win-win.”

The mood music in the gilded hall of Lancaster House was warm and positive, with European Commission President Ursula von der Leyen praising the “lead-

Breaking the chains of political dynasties: A call to action for the 20th Congress

WHAT is the Philippine Constitution? It is the fundamental law of the land. As such, shouldn’t it serve as the guiding framework for lawmakers when creating legislation? As a matter of fact, all laws must follow the Constitution because it serves as the supreme legal framework of the country. Our Constitution was subjected to a nationwide plebiscite, which means the people approved the Constitution as a whole. As the basic law of the land, the Constitution is the expression of the sovereign will of the people. Therefore, all provisions of the Constitution embody the collective voice of the Filipino people.

If lawmakers completely ignore a provision in the Constitution while crafting laws, isn’t that an act of omission on their part?

Lawmakers have a serious responsibility to ensure that their legislative actions align with and uphold the principles of the Constitution. Failure to do so weakens the rule of law and the constitutional foundation of our government.

The Philippine Constitution contains a provision aimed at addressing political dynasties. Article II, Section 26 of the 1987 Constitution states: “The State shall guarantee equal access to opportunities for public service, and prohibit political dynasties as may be defined by law.”

This means our lawmakers need to craft a law that will remove the monopoly of governance. The government must guarantee equal opportunities for all Filipinos to engage in public service and to avoid the concentration of power among families or clans.

The implementation of this con-

stitutional provision is contingent upon legislation that has yet to be enacted, meaning that while the intent to limit political dynasties exists, there are no specific laws currently enforcing this prohibition.

Efforts to define and regulate political dynasties in the country have included several proposed bills. In the 18th Congress, Senator Francis N. Pangilinan filed Senate Bill No. 264—An anti-dynasty bill that seeks to define and prohibit political dynasties.

In the 19th Congress, Sen. Robinhood “Robin” C. Padilla filed an anti-political dynasty bill that seeks to finally fulfill the 1987 Constitution’s mandate to prohibit political dynasties. In filing Senate Bill 2730, Senator Padilla said it is time to break the barriers that prevent the best and the brightest from serving the Filipino people.

Senator Padilla, who chairs the Senate Committee on Constitutional Amendments and Revision of Codes, cited a Harvard Academy research

study in 2011 that showed how political dynasties stem from the tendency of elites to “persist and reproduce their power over time, undermining the effectiveness of institutional reforms in the process.”

Senator Padilla said that data from Philippine local elections between 1988 and 2019 shows a big increase in political families. The number of governors with a relative in office went up from 41 percent in 1988 to 80 percent in 2019. For vice governors, the percentage rose from 18 percent to 68 percent. The share of mayors from political families increased from 26 percent to 53 percent.

Yet another study by Tusalem and Pe-Aguirre in 2013 noted that congressional funds are higher in provinces with more political dynasties, but these areas also have higher rates of crime and poor governance, as well as lower spending on employment, infrastructure, and health care.

“Political dynasties, in effect, have exhausted resources to attain economic and political dominance while at the same time compromising political competition and undermining accountability,” Senator Padilla said.

Under Senator Padilla’s bill, “No spouse or person related within the fourth degree of consanguinity or affinity, whether legitimate or illegitimate, full or half blood, to an incumbent elective official seeking re-election, shall be allowed to hold or run for any elective office in the same city and/or province, or any party list in the same election.”

The two bills that I cited here sought to define what constitutes a political dynasty and set limits on the number of relatives who can hold public office simultaneously. Unfortunately, they were not prioritized for legislative action. They failed to gain traction, including political re-

sistance from those who benefit from dynastic politics.

Here’s my humble message to the members of the incoming 20th Congress: You have a unique opportunity to fulfill the constitutional mandate to enact an anti-political dynasty law. This legislation is crucial for promoting a more equitable political landscape and enhancing our democracy by reducing nepotism. The Constitution clearly outlines the need for such reforms, and it is essential that we uphold these principles. I urge you to prioritize this important issue in your legislative agenda and be part of a historical moment in the 20th Congress.

n n n I WANT to take this moment to congratulate Senator Ping Lacson on his victory in the midterm elections. Filipino voters recognize him as a dedicated public servant. I for one including my friends in the industry now has an additional ally in the Senate to support our efforts against smuggling and all forms of illicit trade.

As the chairman of the Federation of Philippine Industries, we have long been combating smuggling and illicit trade due to their devastating impact on our nation. I call it the triple-whammy effect: Smuggling deprives the government of crucial revenue, undermines local businesses that lead to downsizing and or closures, and can even destroy entire industries. Additionally, it disrupts employment, pushing more Filipinos into poverty.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Taiwan plans wealth fund to counter China with global expansion

By Yian Lee & Betty Hou

PRESIDENT Lai Ching-te said Taiwan would set up a sovereign wealth fund to help its companies expand globally—a move that would tighten Taipei’s ties to markets around the world and counter China’s attempts to isolate it.

“In the future, the government will establish a fund to boost Taiwan’s economic development momentum,” Lai said in a speech in Taipei on Tuesday that marked his first full year in office.

He added that the platform would be “fully utilizing Taiwan’s industrial advantages, with the government taking the lead and cooperating with the power of private enterprises to deploy globally and connect the main target markets.” He didn’t provide more details.

Lai added that trade talks with the US “are still ongoing and progressing smoothly.” That comment that comes after the Trump administration last month hit Taiwan with a 32 percent duty on its exports, later pausing it for 90 days as officials try to negotiate a deal.

Lai is the first Taiwan president to call publicly for a sovereign fund

that invests in overseas markets— something many other Asian governments have—though officials in previous administrations in Taipei have suggested the idea. The plans for a fund dovetail with the government’s strategy to expand links with other nations, especially democracies, adding friends that can help counter China’s aggression.

Beijing views Taiwan as a breakaway province that needs to be brought under its control eventually, by force if necessary, and has maintained a high level of military pressure on Lai since he took office. In an interview aired Monday by Nippon Television, Lai called on Japan, the US and other democracies to work together to prevent Beijing from starting a war.

Lai said in his speech that he is willing to cooperate with China under the principle of equality and dignity. Beijing is unlikely to take

turns out to be just the start of talks

ership” of her “dear Keir,” and both leaders sending a message to Moscow that they were united in the face of Russia’s ongoing invasion of Ukraine—a position that became even more pertinent hours later, following US President Donald Trump’s seemingly fruitless phone call with Vladimir Putin. Yet beyond those limited tangible outcomes, the remainder of the “renewed agenda” unveiled at a summit in London amounted to an agreement to keep negotiating. Talks in the weeks leading up to the event were often fraught and ran down to the wire, with much ultimately left unfinished.

“Today’s announcement has created the momentum to advance our vital economic partnership,” BusinessEurope Director General Markus J. Beyrer said.

“We now need to see real progress on making it easier to trade in goods and services,” he added. “We should also strive to facilitate the short-term mobility of professionals.”

Indeed, the two sides agreed only to “work towards” a youth visa program that could facilitate the travel of students and young workers between Britain and the continent. The EU had been disappointed that the UK wasn’t more ambitious at this meeting, while Starmer, determined not to be seen doing anything to increase immigration, insisted any such program would be capped and time-limited. Exactly how many young people from the EU will be allowed to come to the UK and for how long will be determined in future negotiations.

Airport queues WHILE the UK publicly claimed it had scored a victory by securing the right of British citizens to use e-gates in EU countries—something that could end long passport queues which have become a frustration since Brexit—the text described only their “potential use where appropriate.” Starmer was later forced to concede to reporters that he wasn’t sure if Britons would be allowed to use EU e-gates on their holidays this summer, with the details still to be thrashed out.

Similarly, a defense and security pact committed to “swiftly explore” UK access to the EU’s new €150 billion ($169 billion) defense fund, with no confirmation on when that might happen, what conditions would be attached, or how

Lai up on that because it views him as a devoted separatist.

Taiwan’s central bank has long been skeptical about creating a sovereign wealth fund that gets funding directly from the monetary authority. Earlier this month, it said that a special law should be enacted and an independent agency created to manage any fund. It pointed to neighboring Asian countries that get money from through bond issuance, appropriations, or capital contributions by their finance ministries.

If Taiwan went that route, it could have its central bank deploy its foreign-exchange reserves in some way, something China and South Korea have done. Taipei has a forex pile of some $582.8 billion. Lai didn’t go into specifics on his plans for a fund, including where the money would come from.

Central bank governor Yang Chinlong has said he would not give up any of the institution’s reserves for free but would be willing to loan them. He said people calling for such a fund should figure out a different way to fund it, rather than taking capital from the central bank.

The benchmark Taiex stock gauge

much Britain would have to pay for its companies to be involved. Von der Leyen suggested it could take “weeks” to answer those questions. Again, Starmer was unsure.

As such, there seemed to be a gulf between the grandiose rhetoric used by the UK government to sell the deal and its likely impact on the economy.

Downing Street has in recent days tried to forge a narrative of Starmer as a globe-trotting deal-maker, appearing to borrow from the high-tempo announcements of President Trump to claim he had signed three “trade deals” in two weeks with India, the US and the EU.

“Deals that will grow our economy, putting more money in the pockets of working people,” the premier argued

was up 0.1 percent as of 1:16 p.m. on Tuesday, and the Taiwan dollar rose nearly 0.1 percent to 30.19 versus the greenback.

C.Y. Huang, founding chairman of the Taiwan M&A & Private Equity Council, said he has long supported the idea of a sovereign wealth fund. He said that one reason Lai may be raising the idea now was that President Donald Trump recently did the same, and that any US investment vehicle could focus on high-tech targets, potentially even Taiwan Semiconductor Manufacturing Co., the archipelago’s biggest company. Trump has said an American fund could be backed by monetizing vast government assets and used to back strategic projects in areas like critical minerals or take stakes in companies like TikTok. The idea has been made a lower priority after running into legal, financial and political realities. Huang also said that one challenge Taiwan faces in setting up the fund “is Taiwan lacks international investment talent, and for these kinds of strategic global investments, it would be best to establish an international advisory committee.” With assistance from Argin Chang /Bloomberg

on Monday, before his Chancellor of the Exchequer Rachel Reeves added on Tuesday that Britain “is in a better place than any other country in the world in terms of deals with those countries.”

Yet while it’s true that Starmer concluded a free trade agreement with New Delhi, it is likely to add no more than 0.1 percent to UK economic output in the long run, according to Bloomberg Economics calculations. The outline of an agreement with the US may have reduced some tariffs but it was well short of an FTA, and while the agri-food agreement with the EU should deliver a gain for the British economy, even by the government’s own numbers it is only likely to translate to around 0.2 percent of GDP. Bloomberg

Dr. Jesus Lim Arranza

Wednesday, May 21, 2025

BusinessMirror

In UMIC PHL, number of $250K earners to double

By Cai U. Ordinario

THEcountry’s ascent to Upper Middle Income Country (UMIC) status is expected to double the number of individuals with wealth of around $250,000 by 2030, according to the Hongkong and Shanghai Banking Corporation (HSBC) Philippines.

In a briefing on Tuesday, HSBC Philippines International Wealth and Premier Head Pramoth Rajendran told reporters that given the country’s steady economic growth, which is one of the fastest in the Asean, the number of these individuals are also expected to increase.

While the 5.4-percent GDP growth in the first quarter was below expectations, the outlook of HSBC is not far off at 5.6 percent, which places the country as one of the fastest-growing in the region.

“We’re optimistic about the opportunities that are presented in the Philippines and that [the] Phil-

By Rizal Raoul S. Reyes @brownindio

THE Federal Republic of Ger-

many has a special role to play in keeping rules-based order in the Indo-Pacific amidst the aggressive actions by an Asian superpower.

Major General Rommel Cordova, Deputy Chief of Staff of Plans of the Armed Forces of the Philippines, said on Tuesday that the participation of Europe’s largest economy is a welcome development as it can help like-minded countries like the Philippines to maintain stability in the region. “Thus, Germany’s strategic interest to keep security and stability in the Indo-Pacific region is wellfounded, as the region plays a critical role in charting the future of the global economy and security. Any initiative that seeks to play an active and constructive role in the region is viewed favorably, particularly those that contribute to peace, stability, and adherence to international law,” said Cordova in his speech during the “70 years of Philippines-German Relations: A New Era of Defense” forum organized by the Stratbase Institute and the Konrad Adeneur Stiftung.

Cordova said the revitalization of the Philippine-Germany defense cooperation comes at an ideal time, offering a valuable opportunity for collaboration on shared interests and values. He said the security context of the Philippines is stricken by persistent and escalating threats undermining the country’s sovereignty, sovereign rights, and jurisdiction over its territorial areas and maritime zones. Further, he said the country’s security environment is in a complicated situation because of the the hybrid threat posed by adversaries “who intend to exploit the sociopolitical vulnerabilities to create ambiguity and weaken the country’s decisionmaking, resilience, and effective response.” The prevalence of assertive and

ippines will also present,” Rajendran said.

Apart from fast economic growth, the Philippines still enjoys a young population which HSBC pegged at 25 years old. The Department of Economy, Planning and Development (DepDev) earlier said the median age is at 27 years old. (See: https://businessmirror.com.ph/2025/05/08/phlpoised-to-become-2-t-economy-in25-years/).

The young population, Rajendran said, is one of the top reasons giving HSBC the optimism that not only will the upper crust of Philippine society expand, but also boost

its chances of expanding its market share in the upper 1 percent of the population.

HSBC Premier is open to individuals who have an income of at least P300,000 a month or its foreign currency equivalent and maintain a Total Relationship Balance (TRB) of P3 million or more.

“As a result of the growing middle class, you see the affluent and wealth growth across the spectrum.

So [those are the] three key things that stand out for me [in the] Philippines,” Rajendran said.

“I think if we continue to, and we will continue to grow with our ambition in this pace, I believe we should be able to get a reasonable share or an accelerated share of this particular pie as we go forward,” he also said.

Rajendran said as investors, Filipinos choose fixed income products and other conservative investments. He said this is based on market trends and his initial observations of the Philippine market.

HSBC Premier current offers include global banking services for Filipino professionals; overseas education services for those who are sending their children to schools abroad; and other global invest-

ment opportunities.

“So there tends to be a bit more lean towards fixed income, more conservative type of products. That I think is more a cultural aspect that I’ve seen. There is more allocation towards that,” Rajendran said.

Earlier, DepDev said the Philippines is poised to become a $2-trillion economy in 25 years. Economic Planning Secretary Arsenio M. Balisacan said this is possible given the country’s young labor force.

Based on the Philippine Statistics Authority (PSA), the country’s gross domestic product (GDP) in constant prices reached P22.244 trillion in 2024. Using a P55.61 to the US dollar exchange rate, this translates to $400 billion.

In his presentation, Balisacan said that by 2050, the DEPDev estimates the country’s GDP in constant prices to be P129 trillion, while the population is expected to reach 136 million.

The median age in 25 years will be 37 years old and the country’s GNI per capita could reach $18,336.

Based on the World Bank’s Atlas Method, this makes the country a “Rapidly Rising Middle Income Country.”

TBy Ada Pelonia @adapelonia

HE Bangko Sentral ng Pilipinas (BSP) is keen on incorporating the abaca fiber in the country’s banknotes anew, according to the Philippine Fiber Industry Development Authority (PhilFida).

According to PhilFida Executive Director Arnold Atienza, the agency and the central bank were working together to bring back abaca in the Philippine banknotes, currently in circulation made through polymer.

Atienza noted that initial talks with the BSP involved the process of liquefying the Manila hemp, which the PhilFida is capable of.

“What’s initially discussed was to liquify abaca so it could be combined with polymer, and luckily PhilFida has the capacity to do it,” Atienza said in a radio interview on Tuesday.

“To be fair to BSP, they’re very interested. In fact, they [told me]: if we can liquify abaca, we will introduce it to the polymer. It will be combined.”

Earlier, the Department of Agriculture (DA) urged the central bank to review its bid to remove abaca fiber from Philippine banknotes, noting that over 1.5 million Filipinos bank on the industry for their livelihood.

Agriculture Secretary Francisco

Tiu Laurel Jr. said he would seek support from key government agencies, particularly the BSP and the Department of Foreign Affairs (DFA), in its renewed effort to revitalize the abaca industry.

“We will request that the Bangko Sentral ng Pilipinas reconsider its decision to remove abaca fiber from Philippine banknotes, given the impact this decision has on the livelihoods of millions who rely on the abaca industry,” Laurel said in a statement.

“We will also urge the Department of Foreign Affairs to incorporate abaca fiber into Philippine passports and ask other government agencies to consider its use in official documents.” PhilFida’s Atienza pointed out that the 120,145 farmers engaged in abaca cultivation are among the poorest in the country, earning an estimated annual gross income of less than P40,000. Abaca, internationally known as Manila hemp, is indigenous to the Philippines, accounting for 86 percent of the global supply in 2023. From 2014 to 2023, the DA said the abaca industry generated an average annual export revenue of $139.2 million, with 18 percent derived from raw fiber and 82 percent from manufactured products, primarily pulp. Nearly all abaca pulp produced in the Philippines is exported.

aggressive actions against the Philippines, particularly in the West Philippine Sea, increases the potential for armed conflict, Cordova said, as he also warned of creeping covert acts that seek to weaken the country internally by influencing key decision makers, weakening social cohesion and controlling critical infrastructures.

Despite the illegal, coercive, aggressive and deceptive activities against the Philippines, he said the country is committed in setting differences through diplomacy and amicable means.

“Considering the complexity of the security environment, our President, President Marcos, the Commander-in-Chief of the Armed Forces, has framed the country’s approach in upholding and preserving the country’s territorial integrity. Putting forward the archipelagic doctrine enshrined in the 1982 United Nations Convention on the Law of the Sea, the President has emphasized that the country’s collective actions shall be grounded on international law,” he explained.

He said the renewed interest of the Philippines and Germany to expand defense and security engagement is indicative of the evolving security dynamics and mutual concerns. “But more importantly, it reflects our countries’ shared values and interests,” Cordova said.

He said the recently signed Philippine-German Defense Cooperation Arrangement serves as a testament to the shared resolve of both countries to broaden and diversify their strategic partnerships across key areas of interest.

In his talk, Professor Victor Andres Manhit, President of Stratbase Institute, pointed out that the Philippines places paramount importance on its national interest in the West Philippine Sea, which serves as a lifeblood of our nation. He said the Marcos administration is doing right in implementing a two-pronged strategy, strengthening the country’s external defense capabilities and establishing

By Bless Aubrey Ogerio

THE government launched a new feature on its all-inone mobile platform aimed at giving Filipinos faster, easier access to public services, benefits, and complaint channels with just a few taps on their phones.

The Presidential Action Center is described as “a virtual one-stop shop” that brings together several national and local government programs, ranging from financial and medical aid to appointments for various services, into a single, streamlined system.

“When you go to the Presidential Action Center, you’ll find all government services there. So, it’s like a physical one-stop shop,” De -

partment of Information and Communications Technology (DICT) undersecretary David Almirol Jr. said in a media briefing on Monday.

The super app, he explained, is for those who need to set up an appointment to enter the Presidential Action Center.

Available for download on Android and iOS devices, it requires users to register through an identity verification process linked to the national ID system.

“So, the moment you have registered, you will see the thousands of government services inside our eGov Super App,” he said.

As of now, the platform integrates services from 75 national agencies and around 900 local government offices, he added.

To allay concerns about data privacy, Almirol explained that no personal data is stored by the DICT. Instead, information remains with each agency.

“Each government agency will still maintain its respective systems and databases,” he clarified. “For example, if you access the national ID, the data is with PSA [Philippine Statistics Authority]. If you go to Pag-IBIG [Home Development Mutual Fund] or GSIS [Government Service Insurance System], the data is with those agencies.”

The app also includes an e-Report button, which allows users to lodge complaints or report incidents that are automatically routed to the appropriate government office. Each agency responds independently un-

der a decentralized response system. Moreover, Almirol revealed that more features are already being rolled out. A job matching function is now live,

Editor: Jennifer A. Ng

Jollibee will further expand footprint in Southeast Asia

By VG Cabuag @villygc

JOLLIBEE Foods Corp. (JFC) on Tuesday said it will continue to expand its flagship Jollibee brand in Southeast Asia after sales in the region rose by 27 percent year-on-year in the first quarter.

particularly Southeast Asia, is a testament to the hard work of our team and commitment to our 5-year strategy of tripling attributable net income.”

In Vietnam, the company said almost all its customers are Vietnamese. In Brunei, Jollibee said it has established a leading position as the market leader in the QSR category, with virtually all customers also being local Bruneians.

May 21, 2025

Mgapore and Malaysia praising its spicy kick compared to the competition, the company said.

Beyond its fan-favorite bestsellers, Jollibee’s success has also been fueled by its ability to introduce locally resonant menu innovations, including Chili Chicken in Vietnam and the Spicy Spaghetti in Malaysia, which have been well-received by local consumers.

JFC said the flagship brand is experiencing strong community patronage in Singapore and Malaysia, where most of its consumers are locals.

“We are grateful for our consumers’ love for Jollibee, which reflects the strength of our flagship brand and the appeal of our offerings in different markets,” Ernesto Tanmantiong, the company’s president and CEO, said.

“Our continued strong growth across our international markets,

The company said its strong showing in Southeast Asia, including Vietnam, Malaysia, Singapore and Brunei, contributed to the Jollibee Group’s third consecutive year of record performance in 2024. The brand opened 51 new stores in the region in 2024, including its 200th store in Vietnam. The company said this reflects its commitment to expand to the region’s most dynamic quick-service restaurant (QSR) markets.

“Another key driver of Jollibee’s success in the region is the taste superiority of its products, especially the brand’s Chickenjoy fried chicken.”

The brand’s Spicy Chickenjoy is also continuing to make waves, with many local consumers in Sin -

“Our commitment to delivering superior taste has fueled our growth in Southeast Asia, and we’re grateful to have passionate franchisees and partners who share in this mission,” Dennis Flores, president of Jollibee Europe, Middle East, Asia, and Australia, said.

“We are excited to strengthen these relationships, while also seeking new franchisees for new markets as we bring the joy of superior taste to more customers around the world.”

Metro Retail earnings plunge by 73%

METRO Retail Stores Group Inc. (MRSGI) said its income fell 73 percent to P13.4 million in the first quarter from the previous year’s P50.3 million due to non-cash charges related to the company’s expansion program.

Sales for the period were also sluggish, growing by a mere 2 percent to P8.89 billion from the previous year’s P8.72 billion.

Same-store sales for the period fell 1.7 percent, the company said.

“Through 2025, MRSGI will continue to elevate customer experience, focus on optimizing our operations, and strategically expand our network to further strengthen our market position and deliver sustainable growth,” newly appointed MRSGI president and COO Joselito G. Orense said.

Blended gross margin grew by 4.4

percent to P1.90 billion, attributed to a higher share to business of general merchandise business as well as margin gains from food retail. Gross margin as a percentage of sales also improved to 21.3 percent from 20.8 percent in 2024.

Operating expense-to-sales ratio went up to 22 percent during the period, from 20 percent last year, mainly due to higher utilities costs from power rate hikes especially in the Visayas region and manpower costs related to government mandated minimum wage increases.

“Utilities costs increased because of increase in power rates while depreciation increased as property and equipment increased due to the opening of new stores and warehouse,” the company said.

In April, MRSGI’s total store network grew to 72 stores with the opening of a Metro Value Mart in

Talisay City, Cebu.

Last year, the retail chain of the Gaisano family reported that its earnings declined by 1 percent to P609.42 million from the P618.02 million recorded in 2023 mainly on tepid sales.

The company said it recorded sales of P39.62 billion for 2024, a 3-percent increase compared to P38.27 billion in 2023. It said this was a result of the contributions from the company’s ongoing expansion efforts and a 5-percent upswing in the food retail business.

MRSGI expanded its footprint to a total of 71 stores, opening eight new branches in the provinces of Samar, Negros, and Cebu last year.

“These new stores demonstrated encouraging sales trends from opening, contributing to (an) almost 6 percent growth in sales from the Visayas region.” VG Cabuag

Ayala Land sells 43% of Cavite asset inventory

PROPERTY developer Ayala

Land Inc. on Tuesday said its project dubbed Southmont Central in Cavite has sold 43 percent of its inventory during its launch.

The new district within Ayala Land’s 800-hectare Southmont estate spans 5.8 hectares and offers 37 commercial lots averaging 925 square meters.

These lots are integrated with green open spaces and are positioned to attract local businesses, retail concepts and services aimed at supporting the surrounding residential communities.

“The 36-hectare Southmont Central is planned as the civic and commercial core of the estate, anchored by retail and institutional components alongside Ayala Land’s existing residential projects,” the company said.

These include Hillside Ridge and Verdea by Alveo Land, and Lanewood Hills by Ayala Land Premier, all of which were contributing to the estate’s growing resident base.

Future amenities include a sixhectare sports club, designed to promote wellness and social interaction, as well as a church and civic spaces to enhance community life.

Ayala Land said Southmont benefits from a strategic location along key infrastructure routes, with direct access to CALAX, Sta. Rosa-Tagaytay

Road, Pook Road and Carmen Road. Connectivity is expected to improve further with upcoming projects such as the Cavite-TagaytayBatangas Expressway (CTBEX) and the LRT-1 Cavite Extension.

The company said residential components in the estate have posted steady sales.

Hillside Ridge is already 97 percent sold, with 543 lots already in turnover since early 2023. Lanewood Hills, a low-density enclave by Ayala Land Premier, is 90 percent sold, with turnovers that began in the fourth quarter of 2024, the company said. Verdea, Alveo Land’s second residential development in the estate, has sold half of its 372 lots, with turnovers scheduled for early 2026.

Turnover for Southmont Central’s commercial lots is targeted for the third quarter of 2028, laying the groundwork for what Ayala Land sees as a dynamic new district within Cavite’s expanding economic landscape.

Southmont is one of four largescale estates developed by Ayala Land in southern Luzon, alongside Nuvali in Laguna, Broadfield in Biñan, and the recently launched Aéra in Batangas.

ALI reported that its net income rose 10 percent to P6.94 billion in the first quarter from the previous year’s P6.29 billion, despite the slower pace

of growth recorded by most of its businesses.

According to the company, its revenues grew at a slower rate at 6 percent to P43.55 billion from the previous year’s P41 billion, driven by resilient property development bookings and healthy leasing operations.

The company said revenues from its property development expanded by 11 percent to P27.83 billion from the previous year’s P25.03 billion. The increase was due to contributions across premium residential offerings and commercial and industrial lots for sale, it added.

The firm’s revenues from residential business reached P22.01 billion, a slim 3-percent increase than the previous year from the previous P21.4 billion, anchored on the resilience of the premium segment. Meanwhile, commercial and industrial lot revenues more than doubled to P5.73 billion from the previous P2.92 billion owing to strong sales at ALI’s property in Taguig City.

Reservation sales grew 4 percent to P36.2 billion from the previous year’s P34.9 billion on higher premium residential sales, which went up by 4 percent to P20.7 billion and take-up for commercial and industrial lots which more than tripled to P4.9 billion.

By Lenie Lectura @llectura

ERALCO Power Gen Corp. (MGen) is mulling over the construction of a standalone battery energy storage system (BESS) in Cebu to beef up the province’s power regulating reserves (RR).

RR is a generating capacity needed to balance the supply and load in real time due to fluctuations of on and off load switching or ramping up and down of supply.

“We’re looking at putting a battery in Cebu anywhere between 20 to 50 megawatts (MW). We’re working with a company called Afry to help us develop the standalone battery,” said MGen President Emmanuel Rubio.

AFRY is a European-based international engineering, design, and advisory company.

“Cebu lacks regulating reserves. If you look at the prices of the spot market for regulating up and regulating down, we thought that with the 30-MW certification of PEDC [Panay Energy Development Corp.] Unit 3 to provide regulating, prices will go down. However, it’s not yet enough that why we’re looking to add,” said Rubio.

PEDC is a unit of MGen, the power generation arm of the Manila Electric Co. (Meralco).

The planned BESS will be in Carmen, Cebu. The target commercial operation is in the third quarter of next year, added Rubio. However, he could not yet say how much MGen will invest in the BESS since the company has yet to firm up the capacity of the BESS order.

“But one thing that we’re really excited about, I’m excited about, is in energy storage. The cost of energy storage is actually going down, and the performance of energy storage (has) actually improved through the years. Long-duration energy storage is now almost the norm when you look for energy storage to store your extra capacity of variable renewable energy when it’s not needed.”

MGen said it reinforces its commitment to supporting the Philippines’s renewable energy targets, aligning with the Department of Energy’s goal of 35 percent renewable energy mix by 2030 and 50 percent by 2040.

“We’re making sure that we have a portfolio that allows us to be the most competitive generation entity in the Philippines, being affiliated with the largest power distributor in Luzon, we need to make sure that we provide that lowest cost of electricity through, of course, the competitive selection process that Meralco is doing,” added Rubio.

Vittorio V. Vitug

DTI strengthens enterprise competitiveness through innovation push at VIA Vendor Fair ’25

‘Tastemakers and storytellers’

THE Center for International Trade Expositions and Missions (CITEM)

delivered an exciting precursor to the 18th edition of IFEX Philippines 2025 featuring Sustainability Solutions Exchange (SSX) Exhibition and Conference by treating members of the media with a first look at the winning and nominated products under CITEM’s KATHA Awards for Food–the 2025 IFEX Philippines Media Preview held on May 15, 2025 at Casa Ibarra in Pasay City.

This is the second year that CITEM has organized a special gathering of this kind to bring attention to the growing calibre of quality export-ready food products the country has to offer. With the trove of media organizations and personalities that include today’s influential online community, participating KATHA exhibitors are given unmatched press for their offerings and brand identity.

IFEX Philippines Project Director Rowena Mendoza expressed gratitude to the media and online community. Acknowledging their important work, “we wanted to tell our stories to those who share it the best–Filipino journalists and content creators.”

Focusing on the news makers, CITEM Executive Director Leah Pulido Ocampo reiterated the significance of showing unrelenting support to IFEX Philippines exhibitors and KATHA nominees, saying that “at the heart of these events is a belief–that Filipino products, talent, and ideas have a rightful place on the global stage. At CITEM, our work is dedicated to showcasing the country’s capabilities in every undertaking. Our preview tonight is no exception.”

The KATHA Awards, which has been part and parcel of IFEX Philippines since its establishment in 2015, is a celebration of the country’s best in today’s emerging and innovative food products, which forms part of the Flavor Finds group of exhibitors for IFEX Philippines. This recognition seeks to inspire as well as challenge Philippine exhibitors to have a stronger hand in shaping the country’s reputation in international markets. And what better way to achieve this than to provide a comprehensive trading

and networking space than IFEX Philippines. As the country’s biggest business-to-business and export-oriented international trade show for food, beverage, and ingredients. IFEX Philippines is a substantial platform that connects the most promising food manufacturers to buyers from all over the world.

Anticipating up to 700 exhibitors, which is a marked increase from previous years, there is also an expected 40-50 percent increase in foreign buyer attendance. The Sustainable Solutions Exchange (SSX), which is the flagship initiative of CITEM that promotes sustainable practices and resources, marks its physical debut as an Exhibition and Conference. In addition, a more focused servicing hub for customized product development will be available with the return of the Grocer’s Exchange Mart (G-Mart), a show feature helping global retailers meet and connect with elite exhibitors offering products for private labeling, white labeling, and toll packaging services.

Before the 2025 winners were revealed, CITEM added more excitement to the evening with the recognition of two new FOODPhilippines Advocates Par Excellence for 2025–media personalities Erwan Heussaff of FEATR by The Fat Kid Inside Studios, and Anne Kristel Cabral Laysico of Philtimes AU and Masterplan Global. Rounding the group is Abigail Marquez, a pioneering advocate now continuing on her second year. They have been playing key roles in amplifying the culture, talent, and heritage of Philippine cuisine through their unique brands of storytelling and advocacy here and abroad. They also shared insights as they took the stage to receive their recognition from CITEM.

Having travelled around the world meeting big names and sharing her passion for Filipino food in the past year alone, Abi Marquez has come to realize the main reason behind the growing love for Filipino cuisine. “Great food speaks a universal language. And through her sharing of recipes and innovative takes of classic dishes, she believes in continuously sending the message that “we lift each other up through food.”

THE Department of Trade and Industry (DTI) reaffirmed its unwavering commitment to empower micro, small, and medium enterprises (MSMEs) through policy reform, innovation and digital transformation during the CRIF’s VIA Vendor Fair 2025 at SMX Aura on May 8.

The event, themed “VIA the Right Path: Accelerating Business Growth through Compliance and Sustainable Practices,” underscored the importance of streamlining processes to assist aspiring Filipino entrepreneurs.

“Our SMEs are not just the backbone of our economy—they are its pulse, its potential,” Regional Operations Group Supervising Head, Undersecretary Blesila Lantayona emphasized.

The DTI highlighted key policies such as Republic Act (RA) 11032, or “The Ease of Doing Business and Efficient Government Service Delivery Act of 2018.” This law seeks to streamline and simplify government processes, reduce delays, improve service delivery, and make business

registration faster and more transparent. In line with this, the DTI has adopted critical tools in transforming the business landscape for Filipino entrepreneurs, including programs like the Business Name Registration System Portal, Startup Business One-Stop Shop, and Enterprise Digital Upgrading.

Furthermore, the DTI showcased its efforts under RA 11293, or “The Philippine Innovation Act,” and RA 11337, or “The Innovative Startup Act.” These laws empower startups and regional innovators through funding, incentives, and ecosystem support. Relevantly, the DTI’s initiatives, such as the SMART Link Program, facilitate linkages between MSMEs and local startups

to enhance operational efficiency and competitiveness in the digital economy.

These services have already benefited a wide network of MSMEs, including the beneficiaries of the RAPID Growth Project. With over 69,000 smallholder farmers and 718 MSMEs nationwide, the project has achieved significant progress, focusing on inclusivity and supporting rural enterprise development.

Aligned with President Ferdinand Marcos Jr.’s “Bagong Pilipinas” industrial strategy, the Tatak Pinoy (Proudly Filipino) Strategy Program is being presented as a transformative framework to elevate Filipino products globally. The program’s five pillars—Human Resources, Infra-

structure, Technology & Innovation, Investments and Sound Financial Management—aim to accelerate digital transformation, strengthen support for advanced manufacturing, and foster local innovation on a global scale.

“DTI stands with you. We are your partner in growth, your advocate for innovation and your ally in building a future where no SME is left behind,” Usec. Lantayona said. The event gathered hundreds of participants from a wide range of industries. The VIA Vendor Fair 2025 served as a powerful reminder that compliance, innovation, and sustainability are crucial for economic recovery and long-term growth in the Philippines.

DTI brings Filipino soul to Seoul with SME Showroom launch

SEOUL , South Korea—In a strategic move to advance Filipino products and businesses into the global market, Department of Trade and Industry (DTI) Secretary Cristina A. Roque inaugurated the DTI SME Showroom on May 14 at the PDOT Showroom, President Hotel.

Driven by President Ferdinand R. Marcos Jr.’s vision for a globally competitive and inclusive Bagong Pilipinas, this monumental effort establishes a vital platform for showcasing exportready products and fostering international business partnerships for small and medium enterprises (SMEs).

“This launch is a concrete step towards bringing Filipino products and small and medium enterprises closer to the global market. It is a message to the world that the Philippines is ready, our enterprises are capable, and our products deserve a place on the global stage,” DTI Secretary Roque underscored.

“By providing this physical presence overseas, we break through geographical barriers for our SMEs and build the trust that international buyers seek. We are making it easier for the world to do business with the Philippines—one city, one show-

Sales leadership is a game of duplication

AS a sales leader, people look up to you and admire what you do and what you’ve become. That wonderful story of your sales journey motivated them to start their own quest for success, knowing full well that as promised, you will lead and guide them in making their dreams also a reality. Truly, you inspire many.

All you really need to do is to show them how it’s done. After all, this is a business of duplication, and people will do what people see their leaders do. So show them how it’s done! Show them how they can level-up through your business. This is why they joined your team. Here are three things to consider in effective duplication.

People do what people see WHETHER you like it or not, your team is constantly watching your every move. They follow the leader, and that’s you. The moment they came onboard, a special bond is formed—to a certain extent, you are now accountable for their success while they begin to look at you as their mentor and leader. At this juncture, you become their role model. This means that whatever you do and say becomes a standard to emulate. As a sales leader, you can’t tell them one thing while you do something else. You have to show them how things are done, then tell them why things needed to be done that way. That’s right, it’s “show & tell,” because people do what people see.

Be the person that you want them to become

IN most sales organizations the emerging culture is formed, wheth-

room, one export deal at a time,” the trade chief added.

The newly launched showroom features a carefully curated and rotating selection of high-quality, exportready products from across the Philippines. This initiative highlights the creativity, craftsmanship, and capability of Filipino entrepreneurs, with products ranging from handmade textiles and crafts to innovative food products and beverages.

er consciously or otherwise, by how sales leaders behave. And the people who also tend to take interest in joining the team are those who can relate positively with such behaviors and culture. You see, you are who you attract. Look in the mirror and honestly give your personal expert opinion—“is this the type of person that I want on my team?” Remember, leadership is deliberate. Become the right person for your team, and you’ll begin to find the right members for your team. By the way, don’t just focus on skills and credentials. The foremost criteria should be attitude and character. So better put more weight on it—for yourself and your team.

Endeavor also to achieve success and exemplify perseverance and grit. Your successes serve as milestones for their career, while your perseverance and grit will provide the right attitude and mindset as they encounter challenges along the

Spearheading the launch with Ambassador Maria Theresa DizonDe Vega, Commercial Counsellor Charmaine Mignon Yalong, and Tourism Attaché Erwin Balane, Korean partners and business leaders, Secretary Roque also expressed her gratitude to the DTI-Philippine Trade and Investment Center in Seoul for spearheading the project, as well as the Philippine Department of Tourism in Korea and the Philippine Em-

way. Always be the person that you want them to become.

Duplication never quits

SINCE this is a business of duplication, if you work hard they will also work hard. But if not, they too will not exert the right amount of effort. More so, if you succeed, they succeed. But if you quit, they also quit. Perhaps you can afford to relax and just avoid the stress of doing business altogether. But how about them? Are they now in a situation where they are financially well-off and can already afford to live without any sustained income? Probably not. So while you’re relaxing and living a life without stress (if there is in fact such a life), you’re giving up on them. You’re letting them down. By refusing to work hard, you’re actually sending that same message—that they too don’t need to work hard on their business. Yet unlike you, they need this busi-

bassy for providing showroom space and logistical support, respectively.

“This synergistic collaboration is a true representation of the Philippines’ whole-of-nation approach to more effectively and efficiently promote the Philippines as a business and tourist destination of choice,” she emphasized.

“We warmly invite you to explore the showroom and experience firsthand the excellence, reliability, and heart that go into every Filipino product. Let us seize this opportunity to bring Filipino excellence to the world,” the trade chief added as she invited Korean partners and business leaders to the showroom. The opening of the DTI SME Showroom in Seoul follows the launching of the maiden showroom established by the DTI-Foreign Trade Service Corps (FTSC) in Tokyo last year. This initiative is a flagship project of Secretary Roque, under the DTI-Competitiveness and Innovation Group’s Malikhaing Pinoy program, which champions Filipino creativity and innovation on the global stage. Interested parties may contact the DTI-FTSC through its official email at FTSC@dti.gov.ph.

ness. And they need to work hard in order to reach the heights of what you promised in the beginning. By slowing down, you are actually letting them down. Bear in mind that duplication never quits. As a sales leader, your team trusted you with their dream of an improved life. Let them know that their dream is attainable by showing them

FROM left, CRIF Philippines: Marketing Manager Mr. Arden Ros, Country Director Mr. Marlo Cruz, DTI Undersecretary. Blesila Lantayona, SEC Commissioner Atty. Javey Francisco and CRIF Philippines Head of Sales Joey Donasco

IN photo from left, Commercial Counsellor Charmaine Mignon Yalong; H.E. Maria Theresa B. Dizon De Vega, Ambassador of the Philippines to Korea; DTI Secretary Cristina A. Roque; Assistant

Secretary Judilyn S. Quiachon, Tourism Regulation, Coordination and Convergence, DOT Tourism Attache Erwin F. Balane, Philippine Department of Tourism-Korea.

Editor: Dennis D. Estopace

High costs choke PHL’s insurance penetration rate growth, PIRA says

By Reine Juvierre Alberto @reine_alberto

DESPITE the Philippine insurance industry posting higher net income and strong premium collections in the first quarter, penetration only inched slightly to 1.89 percent—still one of the lowest in the Asean region.

Latest data from the Insurance Commission (IC) showed net income of the insurance industry amounted to P15.301 billion in the first quarter, higher by 7.09 percent from P14.287 billion in the same period a year ago. This comes after the insurance density, or average spending of each individual on insurance, went up by 13.40 percent to P1,094.94 from P965.56 last year.

Insurance penetration, or contribution of the insurance sector to the national economy, slightly improved to 1.89 percent year-on-year from 1.78 percent.

However, Philippine Insurers and Reinsurers Association (PIRA)

Michael Rellosa executive director told the BusinessMirror that the rate is still one of the lowest in the Asean (Association of Southeast Asian Nations) region due to high costs of insurance, as well as the lack of education on these financial products. While the industry may have written more business in terms of total premiums earned, Rellosa said this

briefs

➔ Maya integrates with BillEase

could mean many things.

Total premiums earned by the entire insurance industry reached P124.165 billion in the first quarter, a 14.41 percent increase from last year’s P108.529 billion. “It does not necessarily mean more people are buying insurance. The ones that are more exposed to risks are the ones who can’t afford insurance,” Rellosa said.

Square one ACCORDING to Rellosa, “rationalizing taxes [is] still important” to boost the country’s insurance penetration rate.

However, “with the sidelining of both the ‘Pifita’ and ‘Growth’ [ ] bills, it’s back to square one,” he told the BusinessMirror

Last April, Finance Secretary Ralph G. Recto requested to withdraw consideration of the “Government Revenues Optimization through Wealth Tax Harmonization,” or “Growth,” bill. The bill, formerly the Passive Income and Financial Intermediary Taxation Act, or “Pifita,”

proposed amendments to the Capital Markets Efficiency Promotion Act. (See https://businessmirror.com. ph/2025/04/30/dof-asks-solonsto-shelve-growth-bill/)

Enacted, the law is expected to generate about P300 billion from 2025 up to 2030, by harmonizing the current 6-percent tax rates—for capital gains, donor’s tax and estate tax—to a unified 10 percent.

To note, the non-life insurance industry shoulders 27.5 percent in various taxes, such as a 12-percent value-added tax (VAT), 12.5-percent documentary stamp tax (DST), 0.75-percent local government tax and 2-percent fire service tax, which drives up insurance costs. Life insurance premiums are only levied a 2 percent tax.

The Pifita, later on “Growth,” bill, would have lowered the tax rates.

Income, premiums

A TOTAL of 32 life insurance companies booked a net income in the first quarter of P10.825 billion, 12.22-percent higher than the P9.646 billion posted a year ago.

Premiums earned by the sector amounted to P99.900 billion from last year’s P87.663 billion. About P67.599 billion is paid under variable unit life (VUL) policies, while P32.300 billion was settled through traditional life premiums.

The decrease in benefit payments by 7.24 percent to P28.949 billion allowed the sector to earn more. Total invested assets of the segment also increased by 3.17 percent to P1.859 trillion from P1.802 trillion a year ago.

Meanwhile, earnings of 56 non-

life insurance companies rose by 14.63 percent to P2.890 billion in the first quarter from P2.251 billion a year ago.

Total net premiums written also grew by 19.35 percent to P20.273 billion from P16.986 billion last year. Both total premiums earned and total gross premiums written increased by 19 percent to P18.802 billion and P33.598 billion, respectively.

Claims, losses

HOWEVER, the non-life sector paid more claims as incurred losses totaled P7.923 billion, a 27.10 percent increase from last year’s P6.234 billion.

Invested assets of the sector went up by 4.95 percent to P187.293 billion from P178.463 billion a year ago.

Moreover, 39 mutual benefit associations (MBAs) recorded a narrower net surplus of P1.585 billion, down by 25.21 percent from P2.119 billion.

Total premiums of the segment improved by 2.89 percent to P3.992 billion from last year’s P3.879 billion. Total benefit payments also increased by 9.83 percent to P1.983 billion from P1.805 billion. Total invested assets of MBAs also expanded by 5.07 percent to P146.327 billion from P139.268 billion.

Combined assets of the entire insurance industry in the first quarter reached P2.475 trillion, while its net worth amounted to P497.234 billion.

Last year, the insurance industry posted a net income of P56.290 billion, 15.88-percent higher than the P48.578 billion reported in 2023.

Total premiums and benefit payments grew to P440.389 billion and P160.326 billion, respectively.

Investors sought higher returns on bonds held

THE Bureau of the Treasury (BTr) raised P30 billion from 10-year Treasury bonds (T-bonds) on the back of strong demand from investors seeking higher returns on longer tenors. At Tuesday’s auction, the auction committee fully awarded the government securities with a remaining term of nine years and 11 months.

The debt papers fetched an average yield of 6.226 percent, with yields ranging from a low of 6.210 percent to a high of 6.240 percent.

The average yield is higher by 3.4 basis points than the Philippine Bloomberg Valuation (PHP BVAL) Service Reference Rate for the 10-year tenor of 6.192 percent. It was also up by 2 basis points from the BVAL rate for the government IOUs itself at 6.246 percent.

However, this was lower by 6 basis points compared to the 6.286 percent in the previous 10-year Tbonds auction last April 15, 2025. Investors bet on longer tenors as the auction was 3.6 times oversubscribed, with total tenders reaching P109.504 billion.

Borrowing costs

RIZAL Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort maintained his view that Moody’s Ratings downgrade of US credit rating pushed up yields for T-bonds.

The US Treasury yields rose to three-month highs, with the 10-year yield now at 4.46 percent, “that could lead to higher borrowing/financing costs for governments, corporates, and other borrowers since their debt/loans are priced at a spread above the comparable US Treasury yields,” Ricafort said.

Inflation slowed to 1.4 percent in April, which Ricafort said “provided greater leeway for future rate cuts.” This is lower than the 1.8 percent recorded in March and the 3.8 percent in April 2024. The Bangko Sentral ng Pilipinas (BSP) said the “more manageable” inflation outlook and downside risks to growth “allow for a shift toward a more accommodative monetary policy stance.”

MB positioning FINANCE Secretary and Monetary Board (MB) Member Ralph G. Recto had said that the lower-than-expected inflation in April provides more room for a reduction in key policy rates.

In its April meeting, the MB lowered the target reverse repurchase rate by 25 basis points to 5.50 percent. The interest rates on the overnight deposit and lending facilities were also reduced to 5 percent and 6 percent, respectively.

(See: https://businessmirror. com.ph/2025/04/11/bsp-lowers-key-rate-by-25-bps-morecuts-seen/)

The Treasury plans to raise P260 billion in May from the local debt market. Broken down, P160 billion will be borrowed through T-bonds and P100 billion from short-dated Treasury bills.

MAYA Innovations Holdings Inc. announced last Tuesday of having integrated the “buy now, pay later” (BNPL) feature of digital consumer finance platform BillEase into its own payment platform. According to Maya Enterprise Head Pete Cruz, the integration enables customers transacting at merchants to select BillEase at checkout. “By adding the BillEase option into our payment channels and leveraging QRPh, we are helping businesses expand financial access and drive more sales through flexible payment options,” Cruz was quoted in a statement as saying. “We are able to provide a BNPL experience that enables more Filipinos to access flexible payment options without requiring a credit card,” First Digital Finance Corp. POS Product Head Kurt Molina added. Lorenz S. Marasigan

➔ Insurer launches health insurance plan

THE Manulife China Bank Life Assurance Corp. (MCBL) announced last Monday it has launched a standalone health insurance plan that provides medical care with coverage limits of up to P5 million. This plan called “Medical Secure” allows customers to prepare for medical emergencies by giving them cashless treatment option for hospitalization expenses through a countrywide network of accredited healthcare providers. According to the company, the product was developed in response to insights gathered from the “2024 Manulife Asia Care Survey.” The Manufacturers Life Insurance Co. (Phils.) Inc. President and CEO Rahul Hora noted the survey revealed that 82 percent of respondents in the Philippines identified rising healthcare costs as their main financial concern. The survey also found that Filipinos have heightened concerns about medical inflation, with 59 of the respondents expressing worry about hospitalization expenses, Hora added. VG Cabuag

➔ ‘Demand for renminbi in PHL growing’ Growing acceptance of the Chinese renminbi (RMB) in cross-border trade and international payments has been giving Asia United Bank (AUB) a boost. “We recognize the growth of RMB trade as a key enabler in strengthening the economic ties between the Philippines and China, and we at AUB are proud to contribute to this important endeavor,” AUB President Manuel A. Gomez was quoted in a statement as saying. The increased demand for RMB also “underscores the growing acceptance of the currency’s use in the settlement of trade flows between the Philippines and China,” added AUB Head of Treasury Antonio V. Agcaoili Jr. While tension has been rising globally over the United States’ protectionist policies on trade such as the imposition of additional tariffs on imports, China has been steadily working to elevate the international profile of the RMB, the bank’s statement read.

➔ Citi sees weaker dollar

CITIGROUP Inc. said the dollar could fall further after this week’s Group-of-Seven meeting as global leaders discuss currency policies as part of their trade negotiations with the US. The bank’s currency strategists led by Osamu Takashima wrote in a note that Washington is unlikely to “aggressively pursue” a weak dollar, but the greenback will end up declining as the nation reaches agreements with its trading partners to lower tariffs. Currency policy has become a focal point ahead of the G-7 meetings that start on Tuesday after South Korea and Taiwan officials suggested they have been discussing the theme with the US. Japan’s Finance Minister said earlier on Tuesday he’s arranging a bilateral meeting with US Treasury Secretary Scott Bessent this week to discuss topics including currency matters. Bloomberg News

By Cai U. Ordinario @caiordinario

THE Ayala-led Bank of the Philippine Islands (BPI) announced the sale of its “Supporting Inclusion, Nature, and Growth,” or “Sinag,” bonds that the lender expects to bear an interest rate of 5.85 percent per annum and will be paid quarterly.

The bonds, which will require a minimum investment amount of P500,000 and additional increments of P100,000, are expected to generate an aggregate principal amount of P5 billion.

This is the first tranche of Sinag Bonds under the bank’s P200-billion bond and commercial paper program. The issue is a 1.5-year pesodenominated fixed-rate bond.

According to the country’s thirdlargest lender in terms of total assets, it will use the net proceeds of the offer to finance or refinance eligible projects under its “sustainable funding framework consistent with the Asean Sustainability Bond stan-

dards.” It was confirmed as such by the Securities and Exchange Commission last March 17.

Bonds carrying this classification have been independently verified to have systems in place to ensure that proceeds raised will be directed toward projects with environmental and social benefits. This gives bondholders confidence that their investments will have clear and measurable sustainable impacts.

The offer period started on May 20 and lasts up to May 30. The bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on June 10.

BPI Capital Corp. (“BPI Capital”) and Standard Chartered Bank (“SCB”) are the joint lead arrangers and selling agents of the Offer (BPI Capital and SCB are collectively referred to as “Joint Lead Arrangers”).

BPI and the Joint Lead Arrangers reserve the right to update the offer terms, the periods, and the dates prescribed above, as deemed appropriate and with due notice.

Borrowing costs could still go down after more dovish signals from local monetary officials on a possible 75-basis points reduction in key policy rates for the rest of the year, after inflation eased in April.

The Marcos administration will borrow a total of P2.545 trillion this year, following an 80:20 mix in favor of domestic sources. Gross borrowings reached P745.142 billion in the first quarter. Data from the Treasury showed outstanding T-bonds issued by the national government reached P10.770 trillion. About 22 percent accounts for 10-year tenor T-bonds maturing from 2027 to 2034.

The national government’s outstanding debt reached a new high of P16.632 trillion as of end-February, 9.57 percent higher year-onyear from P15.178 trillion.

As the world turns: New pathways?

“The greatest danger in times of turbulence is not the turbulence.

It is to act with yesterday’s logic.”

—Peter Drucker

OUR country was busy with the mid-term elections last week. And now that the proclamations of the elected officials are done, it will be good to take a step back, take a breath and appreciate how the rest of the world has changed and what are the trends and the consequences.

The European Union

IN January 2025, a simplification agenda to reduce bureaucracy and promoting innovation was launched (to include green technologies, AI, quantum computing, with regulatory flexibilities for certain industries like automotive manufacturing.

The following month, the European Commission (EC) issued the first Omnibus Package aimed to simplify the European Union (EU) rules, promote competitiveness and expand additional investment capacity. To encourage AI investments, the tech regulations were scaled back.

The United States

THE unprecedented increase in tariff among trading partners has wideranging impact to those countries with large net trade balance with the largest economy.

Efficiency initiatives have been carried out by a new unit of the government (DOGE) that led to downsizing offices, eliminating aids, and more. With the speed and volume of executive orders, there seems to have an increase in uncertainty.

Elsewhere in the world IN India, significant deregulation in the telecommunications sector, reduction in licensing requirements and promotion of more competition are felt. The same is true in Brazil where to attract international capital, the restrictions on foreign investments in the energy sector have eased. Labor laws are being simplified and deregulations are adopted in countries like South Africa and India. Other countries have started to position for “deals” with the biggest world economy.

Meantime, pockets of wars are happening or under truce negotiations—Russia vs Ukraine, Israel vs Hamas, and India vs Pakistan. Quo Vadis?

One can only ask our country leaders, what’s ahead?

Conchita L. Manabat is the president of the Development Center for Finance, a Trustee at the

of

and

Reine Juvierre S. Alberto

SCAM SPOTTING This undated photo courtesy of the BDO Foundation Inc. shows (from left) BDO Foundation President Mario A. Deriquito shaking hands with Securities and Exchange Commission Chairman Emilio B. Aquino after an event launching a partnership to educate the public on legitimate and scam investment offers. CREDIT: BDO FOUNDATION INC.

Image

14 FILIPINO ARTISTS EXPLORE CONCEPT OF TIME IN MCAD EXHIBITION

THE forthcoming exhibition of the Museum of Contemporary Art and Design (MCAD) of the De La Salle-College of Saint Benilde, Moments of Delay brings together the diverse practices of 14 interdisciplinary artists who navigate the tensions and contradictions emerging from local contexts. Together, they look inward—yet with multiple trajectories— in response to the fluidity of time, plural realities, and urgent concerns of the present.

Curated by cultural worker Arianna Mercado and independent curator James Tana, the presentation engages with the concept of contemporaneity—a potentially infinite period characterized by doubt and hesitation—as articulated in the essay Comrades of Time by art critic, media theorist, and philosopher Boris Groys.

A rarity in MCAD’s usual programming, it builds upon the 2015 exhibition The Vexed Contemporary, which sought to complicate the positioning of art practices in local and global spaces. The Moments of Delay curators explained that the exhibition operates within strategies which explore the varying embodiments of the looping and cyclical nature of time. “We propose approaches to understanding time and the contemporary, addressing how artistic practice has been used as ways to probe individual and collective experiences, as reactions to specific conditions and speculations on a future, which approaches ‘delay’ as a fractured yet expansive temporal state,” they explained.

The textual interventions of Neo Maestro speak to the ideas of the experience of the contemporary as a phantom that transcends and represents multiple narratives in time and space. Christian Tablazon’s video The Visible World (2016/2021) presents notions of softness as it brings together literary theories and excerpts from different eras and people. Allan Balisi’s paintings breathe new life and interpretations into dusty mannequins found in the storage of the Cultural Center of the Philippines (CCP).

The presentation includes the works of Miguel Lorenzo

Finding meaning in work with long-term results

SOME work takes months, years, or even decades to show results but that does not make it any less meaningful. In fact, the long wait often reflects the depth of its impact.

A teacher helping a struggling reader, a scientist in a years-long clinical trial, or an architect designing a future housing project may not see immediate results, but their work is deeply important. Still, the slow pace, limited feedback and delayed rewards can be draining. Whether you are working in research, education, policy, or a cross-departmental initiative, staying engaged during the long haul is tough, but with the right mindset and strategies, it can also be deeply fulfilling.

One of the best ways to stay motivated is to regularly reconnect with your “why.” When work feels slow, stuck, or buried in bureaucracy, remembering the bigger picture helps you push through. Asking questions like “Why does this work matter?” or “Who will it help?” keeps your eyes on the long-term goal and can help keep you grounded. Try writing your purpose in one clear sentence and keeping it visible, such as, “This project will help underprivileged families by providing them with alternative livelihood.” This simple reminder can make daily tasks feel more meaningful.

Another way to stay motivated is by acknowledging micro wins. Long-term projects often lack regular feedback, so it helps to break your work into smaller, meaningful milestones like finishing a report section or solving a minor issue. One project manager on a years-long project kept a weekly log of small accomplishments to track progress and stay encouraged. Celebrating these moments, even privately, builds momentum and helps you stay engaged.

Equally important is celebrating progress, not just results. Too often we save the praise, recognition, or sense of achievement for the final delivery or public launch. But in long-term work, waiting until the very end to feel good about what you have done can lead to burnout. You and your team need encouragement throughout the process. That could mean taking a moment after each phase to reflect on what went well, sharing interim progress with stakeholders, or simply saying “thank you” for hard work done behind the scenes. Progress deserves acknowledgment. These moments of recognition boost morale and reinforce a sense of forward motion even when the big outcome is far off.

Another powerful way to stay connected to your purpose is by engaging with the people your work is meant to serve. Long-term projects can feel abstract, but hearing feedback, conversations, or stories directly can reignite your motivation. Humanizing the outcome makes the delays feel worthwhile. Even one meaningful interaction can shift your mindset from frustration to inspiration.

Dealing with the emotional weight of waiting also means talking about it. There is often a kind of isolation in long-term work. It is like you are investing

WORKERS ARE SAYING ‘NO’ TO TOXIC ENVIRONMENTS. HERE’S HOW TO SET LIMITS OR KNOW IT’S TIME TO LEAVE

By  Cathy Bussewitz

The Associated Press

NEW YORK—One week into a new job, Lisa Grouette discovered something missing come Sunday night: the sinking feeling of dread she used to experience before going to work every Monday.

Groutte spent 10 years at an insurance agency with a boss whom she alleges screamed at her, slammed his hands on the desk, insulted her appearance and punched things. He falsely accused her of taking money and threatened to withhold an employment recommendation if she quit, she says. Fearing she wouldn’t land another job if she left the toxic workplace, she stayed. “It was this implied, ‘You’re stuck,’” Grouette, 48, recalled. But eventually, she found a way out. When a full-time job opened up at a newspaper where she worked a part-time photography job, she resigned from the insurance agency. The new position paid $400 less per month, but Grouette reduced her expenses to make it work.

“You can’t put a price tag on it,” she said. “It was the best 400 bucks a month I’ve ever spent, worth every penny. I was a little tight at first, but it didn’t matter because I was happy.” GROWING INTOLERANCE OF TOXIC BEHAVIOR. As mental health awareness increases, so are conversations about about what constitutes unhealthy behavior and the kinds of treatment people

will not—or should not—tolerate for a steady paycheck.

“We’re developing language now around things like toxic workplaces,” said Jennifer Tosti-Kharas, a professor of organizational behavior at Babson College in Massachusetts.

Younger generations entering the workforce, including millennials and members of Generation Z, are less willing to endure bullying behavior from colleagues and managers, and better at establishing boundaries, she said. At the start of her own career, “if I encountered toxicity in the workplace, I had more of a ‘Suck it up’ attitude,” said Tosti-Kharas, who identifies as a member of Generation X. “I don’t think we were as vocal about taking care of our mental health as we should have been.”

HOW DO YOU IDENTIFY A TOXIC WORK ENVIRONMENT? Conflicts and difficult relationships may be inevitable in any work environment. But there’s a difference between an occasional disagreement and persistent abuse.

“What makes something toxic: it’s more pervasive, more consistent over time,” TostiKharas said. “You may have tried some things and it’s not getting better.... It’s very deeply entrenched.”

Possible indications of an emotionally harmful workplace include a widespread lack of trust and fear of being shot down if you speak

up, she said.

Loud screamers aren’t the only kind of toxic co-workers and supervisors. There are quieter forms of toxicity, such as passive-aggressive behavior by leaders who use sarcasm, backhanded compliments, indirect criticism and exclusion to control their employees, according to Alana Atchison, a clinical psychologist based in Chicago.

“It is a relationship where you can’t communicate clearly or directly, so you have to silence yourself. You can’t say truly what you need to say and feel safe,” Atchison said.

To spot a potentially toxic environment when applying for a new job, follow your gut instincts and consider warning signs. For example, frequent ads for the same position may reflect high turnover resulting from a negative environment. You can also search employee reviews online.

WHAT MIGHT EXPLAIN TOXIC BEHAVIOR?

When on the receiving end of toxicity, consider whether the offending behavior says more about the person perpetuating it than the recipient.

“It’s almost like a smokescreen to hide their deficits,” Atchison said. “If someone feels insecure about their role or fears being overshadowed, they might resort to undermining others, gossiping or sabotaging projects to regain a sense of control or safety.”

VOICE YOUR CONCERNS. If you find yourself in a toxic work situation, talking about it with a

your time and energy into a black box, hoping it matters but you are not entirely sure. It helps to speak to others who have been through similar experiences, which could be a mentor who once led a similar project, or a peer in another department working on their own project.

Ask them how they stayed focused or what they wish they had done differently. Even talking with your own teammates about the slowness of progress can help. Sharing your experience aloud turns silent frustration into shared resilience. You are no longer alone in the waiting. You are part of a collective effort that requires endurance but also offers a deep sense of belongingness.

Finally, remember that slow work is often the most meaningful. In a culture focused on quick wins and instant results, it is easy to overlook the value of long-term efforts. But real change, like building trust, improving systems, or developing people takes time. Just because the impact is not immediate does not mean it is not real.

A former student returning years later to thank a teacher or a vacant lot turning into a thriving community space shows the lasting power of patient work. When you see the wait as part of the impact, the process itself becomes meaningful.

Finding purpose in long-term work is about creating meaning as you go and not just waiting for it to arrive at the end. That means staying connected to your purpose, celebrating every step of progress, seeking out the people your work affects, talking honestly about the waiting, and remembering that impact is not always immediate. If you can lean into that mindset, your work will not just feel meaningful when it is finally finished. It will feel meaningful while you are doing it. n

trusted friend or professional therapist can help you process what is happening and develop a plan to deal with it, instead of letting it fester in your mind.

Stephanie Strausser, 42, a video production manager, said she sought support from friends and family members when she worked under an extreme micromanager who made her feel unsafe and whose decisions she considered unethical.

“Don’t hide it or keep it in. Talk to people.

Even if you’re talking to ChatGPT,” Strausser advises those who find themselves in similar circumstances. “Don’t internalize it. And don’t take someone’s perception as fact.”

Writing down the details of troubling interactions as they happen and keeping copies of inappropriate messages or approved meeting recordings may come in handy if the human resources department gets involved, for example.

Maintaining a record may also help you avoid gaslighting and reinforce your determination to protect yourself.

SET BOUNDARIES. If leaving a toxic environment isn’t financially possible or you want to try to make your circumstances more bearable, think about exploring ways to limit your interaction with the difficult party may be an option.

Possibilities may include negotiating a role that puts distance between you and the toxic person, such as working different shifts or on

different projects, Tosti-Kharas said. You can also set deadlines for yourself to keep things from deteriorating, according to Szmuc. Examples: “I’m going to give this two weeks. Is there any improvement?” she said. “Is there a way internally where I can maybe change my circumstances or get someone else’s opinion?”

FIND A WAY OUT. Ideally, an employee who feels mistreated could appeal to someone from human resources or the offending employee’s manager with evidence to show a pattern of conduct violations and disciplinary action would be taken, Tosti-Kharas said.

But that doesn’t always happen, leaving the reporting party in close proximity with the person they reported. “In the real world, you may realize they are unlikely to go anywhere, and it’s you who has to go somewhere,” TostiKharas said.

In extreme situations, it’s best to look for another job, she said.

Most people can’t afford to leave their jobs without another one lined up. Carving out time to apply for different jobs is difficult when you feel under assault but also is empowering and may lead to a better situation.

“If somebody gives you an impression that you’re not able to leave this job, that’s just not true,” Grouette said. “Those sorts of people don’t have the reach or respect that they claim to have, because if they’re volatile to you, they’re volatile to others.”

PHOTO

CURATORS Arianna Mercado and James Tana

PhilCVS Renews Strategic Partnership with HATAW

The Philippine Commercial Vehicle Show (PhilCVS), the country’s leading B2B exhibition for commercial vehicles and automotive parts, has officially renewed its partnership with Haulers & Truckers at the Waterfront (HATAW), reinforcing a shared commitment to drive innovation and modernization in the transport and logistics sector.

Following a successful collaboration launched in 2023, PhilCVS and HATAW are once again teaming up to co-host the highly anticipated Fleet Management Forum (FMA) at PhilCVS 2025, to be held from July 3 to 5, 2025, at the SMX Convention Center, Mall of Asia Complex.

The FMA is scheduled for July 4, 2025, and will serve as a key platform for industry leaders, logistics providers, and fleet operators to explore emerging technologies, best practices, and strategies in support of the Philippine government’s Public Transport Modernization Program.

“This collaboration strengthens our position as the leading trade event for the

commercial vehicle industry,” said Nerza Del Rosario, lead organizer of PhilCVS. “With HATAW’s continued involvement, we are able to deliver a forum that truly addresses the needs and aspirations of the sector.”

HATAW’s co-organizing role highlights its commitment to providing real-world solutions and fostering stronger industry cooperation to elevate standards in logistics, fleet operations, and public transport.

PhilCVS 2025 is expected to showcase the latest in commercial vehicles, fleet technologies, parts, services, and innovations from local and international brands.

Radenta, San Sebastian College Ink AI Pact

RADENTA Technologies, one of the country’s leading solutions integrators, recently signed an agreement with San Sebastian CollegeRecoletos Manila for the integration of Artificial Intelligence solutions within the school’s educational environment.

The project, titled “AI Integration for Enhanced Learning,” aims to enhance student learning outcomes through personalized learning experiences; improve teacher effectiveness through AIpowered tools and insights; foster a datadriven decision-making culture within the institution; prepare students for the future by integrating AI literacy into the curriculum; and streamline administrative tasks and optimize resource allocation.

Present during the signing ceremony were Radenta Technologies Inc. President Randall Lozano and officers of San Sebastian College-Recoletos Manila led by Rev. Fr. Rafael Pecson, OAR, President; Rev. Fr. Henry Santiago, OAR, Vice President for Finance; and Rev. Fr. Virgilio Paredes, Jr., OAR, Vice President for Identity, Formation and Mission.

The engagement tasks Radenta to come up with an Assessment of Readiness to include a comprehensive evaluation of San Sebastian’s current technological infrastructure including hardware, software, network capabilities, and data management; analysis of the school’s existing data landscape to identify available data sources, data quality, and potential for AI-driven insights; evaluation of the school’s current pedagogical approaches and identify areas where AI can be effectively integrated to enhance teaching and learning; identify gaps for improvement in infrastructure; and data management and educational practices to support successful AI adoption. A detailed report with specific recommendations will then be made available to the school.

The next step is AI integration in Pedagogical Operations to cover two areas.   First is Adaptive Learning Tools that utilizes AI to personalize student learning experiences; customize said learning tools to align with the school’s curriculum and learning objectives; provide learning and support to teachers on effectively utilizing adaptive learning platforms; and monitor

and adjust as needed for optimization.

The second is AI-Driven Insights for Teachers. Here, Radenta implements AI-powered analytic tools that provide teachers with insights into student performance, learning patterns, and areas where students may be struggling; train teachers on interpreting AI-driven insights to support curriculum planning and student assessment; develop reports and dashboards that communicate actionable information to teachers; and facilitate feedback sessions with teachers to know if the AI-driven insights are meeting expectations.

AI Integration in Administrative Operations covers the exploration and implementation of AI-powered solutions to automate attendance tracking, scheduling, and report generation. Included too is the provision of administrative staff training.

The last phase of the initiative is AI Literacy and Curriculum Integration.

From sunblock to safety nets: InLife and Sharon Cuneta on summer essentials for life’s journey

IT’S still summer in the Philippines, and for many families, that means a suitcase by the door, excitement in the air, and a few days, maybe weeks, of sunshine and adventure. But beyond the sunscreen, shades, snacks, and other travel must-haves, what truly counts as a summer essential?

For Sharon Cuneta-Pangilinan, InLife’s Dreamweaver and beloved Megastar of Philippine showbusiness, the answer goes beyond the travel luggage. “I make sure to travel not just with a good itinerary, but with peace of mind,” she shares. “I’ve learned that preparing for the unexpected—whether on the road or in life—is one of the best things you can do for yourself and for your family.”

The new summer checklist

Checklists are necessary whenever we plan for trips: IDs (and travel documents especially if traveling overseas), sunscreen, phone chargers, cash, debit and credit cards, travel insurance, even a first-aid kit. But what about the essentials that protect you long after the vacation ends?

“Just as we prepare for sudden weather or last-minute itinerary changes during our summer getaways, we can—and should— prepare for life’s twists and turns. This is where InLife’s complete suite of products becomes part of your ultimate travel—and life—checklist,” added Sharon.

iProtect: your short-term protection, wherever life takes you

Think of this as your everyday emergency kit. iProtect is InLife’s new renewable term life insurance plan that gives life insurance protection at an affordable cost. Whether you’re in your 20s just starting out, or a parent ensuring your family’s safety and financial stability through an estate plan, iProtect provides that first layer of financial defense. For more information on iProtect, visit https://www.insularlife.com.ph/iprotect.

Wealth Assure Plus: Your life, your rules, your journey?

Wealth Assure Plus is like your flexible backpack—customizable, dependable, and

ready for whatever destination life takes you. It is a whole life plan with investment component that gives you the freedom to choose your fund type and add or detach boosters throughout the duration of the plan depending on your needs. Whether you’re saving for a child’s education, your next dream destination, or building generational wealth, this plan ensures your goals stay on track—even when life takes an unexpected detour. For more information on Wealth Assure Plus, visit https://www.insularlife.com.ph/ wealth-assure-plus.

Abundance: celebrate life’s milestones along the way Every life journey has milestones worth celebrating. Abundance is an endowment plan that provides guaranteed cash payouts regardless of market conditions when they become due. Abundance is perfect for planning life’s goals and milestones, such as saving for children’s educational needs, advance for big purchases such as a house or a new car, and even funds for family vacations. Sharon says, “When you work hard, you get closer to making your dreams come true. This certainly deserves a meaningful but wise reward!”

IFEX Philippines Media Preview showcases KATHA Awards for Food 2025 winners circle

THE Center for International Trade Expositions and Missions (CITEM) delivered an exciting precursor to the 18th edition of IFEX Philippines 2025 featuring Sustainability Solutions Exchange (SSX) Exhibition and Conference by treating members of the media with a first look at the winning and nominated products under CITEM’s KATHA Awards for Food–the 2025 IFEX Philippines Media Preview held on May 15, 2025 at Casa Ibarra in Pasay City.

This is the second year that CITEM has organized a special gathering of this kind to bring attention to the growing calibre of quality export-ready food products the country has to offer. With the trove of media organizations and personalities that include today’s influential online community, participating KATHA exhibitors are given unmatched press for their offerings and brand identity.

IFEX Philippines Project Director Rowena Mendoza expressed gratitude to the media and online community. Acknowledging their important work, “we wanted to tell our stories to those who share it the best–Filipino journalists and content creators.”

comprehensive trading and networking space than IFEX Philippines.

As the country’s biggest business-to-business and export-oriented international trade show for food, beverage, and ingredients. IFEX Philippines is a substantial platform that connects the most promising food manufacturers to buyers from all over the world. Anticipating up to 700 exhibitors, which is a marked increase from previous years, there is also an expected 40 to 50 percent increase in foreign buyer attendance. The Sustainable Solutions Exchange (SSX), which is the flagship initiative of CITEM that promotes sustainable practices and resources, marks its physical debut as an Exhibition and Conference. In addition, a more focused servicing hub for customized product development will be available with the return of the Grocer’s Exchange Mart (G-Mart), a show feature helping global retailers meet and connect

At this stage, Radenta will develop and implement age-appropriate AI literacy programs for students; explore opportunities to integrate AI concepts into existing curriculum subjects; and assist teachers in incorporating AI concepts into teaching.

According to Lozano, “We want San Sebastian Recoletos Manila to be the first or one of the first artificial intelligenceready-schools. There is a fear that artificial intelligence will replace people. What I say is, artificial intelligence will never replace people, but people using artificial intelligence will replace people not using artificial intelligence.”

Radenta is one of the first and the very few in the industry that offers technological innovations in the field of education. Get unique, customized, up-to-the-minute AI solutions for your learning institution. Call 09190812978, email info@radenta.com, or visit www.radenta.com.

Focusing on the news makers, CITEM Executive Director Leah Pulido Ocampo reiterated the significance of showing unrelenting support to IFEX Philippines exhibitors and KATHA nominees, saying that “at the heart of these events is a belief–that Filipino products, talent, and ideas have a rightful place on the global stage. At CITEM, our work is dedicated to showcasing the country’s capabilities in every undertaking. Our preview tonight is no exception.”

The KATHA Awards, which has been part and parcel of IFEX Philippines since its establishment in 2015, is a celebration of the country’s best in today’s emerging and innovative food products, which forms part of the Flavor Finds group of exhibitors for IFEX Philippines. This recognition seeks to inspire as well as challenge Philippine exhibitors to have a stronger hand in shaping the country’s reputation in international markets. And what better way to achieve this than to provide a

In the photo are, from left, San Sebastian College-Recoletos Manila Rev. Fr. Henry Santiago, OAR, Vice President for Finance; Radenta Technologies Inc. President Randall Lozano; Rev. Fr. Rafael Pecson, OAR, President; and Rev. Fr. Virgilio Paredes Jr., OAR, Vice President for Identity, Formation and Mission.

Editor: Tet Andolong

BusinessMirror

Construction shows growth in 2025 as companies introduce sustainable products

By Rizal Raoul S. Reyes @brownindio

THE local construction industry is expected to experience significant growth in 2025, propelled mainly by major government investments in infrastructure, public-private partnership (PPP) projects, and increasing demand across various sectors.

Moreover, the local construction market is expected to flourish by 8.4 percent this year, hitting P1.94 trillion. The industry posted a very healthy Compound Annual Growth Rate (CAGR) of 11.8 percent between 2020 and 2024.

There’s growth despite condos inventory

EDMUND LEE , president of Trendway Builders Inc., told the BusinessMirror in a recent interview that he has a bullish outlook for the local construction industry. Notwithstanding the fact there is an inventory of 8,000 units in the condominium segment, Lee still sees a lot of opportunities as the vertical housing market is one one of the several segments of the local housing market. “I still believe that the construction is booming. The condominium sector is only one of the sectors of the housing market and there are a lot of housing needs and requirements from the local housing industry,” Lee said. As far as Trendways is concerned, Lee said the condominium glut is not affecting the company as it is serving the middle income and high-end markets. Another growth driver of the business is the aggressive marketing strategies in the past that have generated interests among the clients. “I also think the election season is also a growth driver as people have more money to spare,” Lee said.

Lee said Trendways would also continue conducting awareness and educational campaigns to universities to enlighten students on the benefits of nano coating technology.

Nano coating solutions offer a wide array of benefits across various applications due to their unique properties at the nanoscale. In summary, nano coating solutions offer a compelling combination of enhanced protection, durability, ease of maintenance, improved performance, and environmental

Experience summer in Cebu with Sheraton Cebu Mactan Resort

THIS summer, more families and friends can set their sights on Cebu—a destination that effortlessly combines its natural beauty, rich heritage, and welcoming hospitality. Whether for a quick weekend escape or a longer holiday under the sun, Cebu offers the perfect balance of adventure and relaxation.

At the heart of this experience is AppleOne Group’s luxury development, Sheraton Cebu Mactan Resort, a beachfront retreat that brings together comfort, convenience, and thoughtful touches to every stay. Just a short drive from the Metro and the international airport, Sheraton Cebu Mactan Resort is designed for those looking to spend quality time together, surrounded by the scenic view of the beach. The resort welcomes guests with generous spaces, open-air lounges, direct beach access, a kids’ play area, wellness facilities, and thoughtfully designed rooms perfect for couples, families, and friends. Whether you're traveling with little ones, planning a summer reunion, or looking for a quiet getaway, the resort offers just the right mix of privacy and togetherness. Throughout their stay, guests can enjoy a variety of curated summer activities designed for every type of traveler. From garden yoga sessions and wellness programs that refresh both body and mind, to kid-friendly indoor games and creative workshops. Parents can unwind with spa treatments, while adventure-seekers can ask for the resort’s assistance in arranging water activities like paddleboarding, diving, or private islandhopping tours. For those who plan on exploring everything Cebu has to offer can arrange DIY day trips or book through local partners to visit the iconic Magellan’s Cross, Basilica Minore del Sto. Niño de Cebu, and even the Mactan

Shrine—a memorial park just 3 kilometers from the spa resort, perfect for a leisurely walk. Enjoy panoramic views at the Temple of Leah, or hop on a boat for a Maribago Island Hopping adventure or a Coral Sea Dive Center experience. Conveniently located within easy reach of these cultural landmarks and island destinations, Sheraton Cebu Mactan Resort serves as the perfect home base, whether you’re heading out for a day of adventure or unwinding after exploring the island. At Sheraton Cebu Mactan Resort, mealtimes are a treat in themselves. The resort’s all-day dining restaurant, 5 Cien, features a wide range of dishes inspired by Cebu’s culinary traditions. Fresh seafood, traditional grilled favorites, and comfort food from around the world are served buffet-style or à la carte, offering something for every age and taste.

Buhi Bar is perfect for sundown cocktails or a light afternoon bite, while the cafe serves coffee and pastries ideal for slow mornings and mid-day merienda breaks.

For guests seeking a more refined culinary experience, Dip, the resort’s signature

Nikkei restaurant, presents an elegant fusion of Japanese and Peruvian flavors in a stylish yet relaxed beachfront setting, perfect for leisurely lunches or intimate dinners by the sea.

“We are proud to say that Cebu is a place where people can truly reconnect, whether that means quiet mornings by the beach, shared meals with family and friends, or afternoons filled with adventure,” said Samantha Manigsaca, VP for Hospitality at AppleOne Group. “Here at Sheraton, we welcome every guest with the same promise: that they’ll leave with stories worth telling, memories worth keeping, and a desire to return to Cebu.”

As part of AppleOne Group’s growing hospitality portfolio, Sheraton Cebu Mactan Resort reflects the company’s commitment to developing world-class experiences rooted in place, purpose, and comfort.

This summer, create moments in a place that brings people closer. Whether you're craving rest, reconnection, or a refreshing change of scenery, Sheraton Cebu Mactan Resort offers everything you need for an island escape.

benefits across a diverse spectrum of applications.

Promoting sustainability NIPPON Paint (Coatings) Philippines Inc. also recently expressed bullishness on the local market by launching a product promoting sustainability.

Mr. Chen Lee Siong, General Manager of Nippon Paint (Coatings) Philippines, said the country’s gross domestic product (GDP) has posted impressive growth rates since 2024. “We are very positive on the Phil -

ippine market as it has posted significant growth rates in 2024 and 2025,” said Chen in a recent interview with the BusinessMirror on the sidelines during the launch of its latest breakthrough in exterior wall protection—the Weatherbond Quartz series.

Nippon Paint (Coatings) Philippines senior technical manager Marizette De Torres said the Weatherbond series deliver enduring power and strength for the buildings and homes. “Formulated technology that can give you the toughest,

American Standard celebrates 150 years with innovative hygiene

SINCE 1875, American Standard has empowered homeowners to create spaces they cherish through solutions with purposeful designs and trusted performance. Today, the brand’s products—from faucets and showers to toilets and bathtubs—elevate homes, hotels, and public spaces worldwide. Built to last and designed with sustainability in mind, its offerings combine f unctionality with timeless design, transforming any space into an inviting environment. Inspired by a h eritage of care, comfort, and hygiene, the brand remains driven by a c ommitment to enhance daily life.

Celebrating its Innovation Journey in APAC

IN the Asia-Pacific region, American Standard is pioneering innovative solutions designed to meet the u nique challenges and needs of local consumers. With the award-winning Genie Hand Shower, the brand a ddresses low water pressure, delivering a revitalizing shower experience. The EasyFlo faucet redefines c onvenience with intuitive, userfriendly push button operation. Understanding APAC’s diverse consumer needs, the brand introduced the DuoStix Hygiene Spray— a v ersatile tool engineered for both bathroom cleaning and gentle personal cleansing. The recently launched Loven collection, with soft curves and tapered design optimizes and enables consumers to create a comfortable bathroom even in limited spaces. Practical innovations l ike SpaceCreate (toilet tank storage) and CoolShield (anti-scalding show -

er mixers) further demonstrate the brand's commitment to uplift hygiene and enhance quality of life.

The brand continues to lead in hygiene innovation across Asia Pacific, d elivering smart solutions tailored to the region’s evolving lifestyles. The E-Lite integrated shower toilet exemplifies this commitment, offering a seamless blend of comfort, hy giene, and convenience. With features like posterior and feminine c leansing, UV sterilization, and a self-cleaning nozzle, E-Lite ensures a refreshing and hygienic experience. Its intuitive design, including a preflush function and nozzle shutter, caters to the preferences of discerning homeowners, making it an ideal c hoice for modern living.

In addition, American Standard fittings are now available in colors, empowering consumers to infuse their bathrooms with vibrant hues that reflect their personal style and create a home they truly love.

"We are proud to celebrate the 150th brand anniversary of our American Standard brand, honoring a legacy of trust and innovation b uilt on a deep understanding of consumer needs and requirements . We have been improving homes around the world, designing purposeful bathroom and kitchen p roducts that combine dependable yet inviting design with pioneering technologies. The brand refresh in 2023 with the focus on “LIFE. LOVE.

HOME " reinforces our commitment to inspire people to create a home they will love every day.” said Antoine Besseyre des Horts, Leader, L IXIL Global Design, Asia.

hardest and strongest protection from the harsh conditions of climate change,” she said. He said the launching of the WeatherBond in the local market indicates that the company understands the needs of every Filipino home. With its unpredictable and often harsh weather, Chen said it is the company’s responsibility to introduce the Weatherbond Quartz series in the Philippines. By introducing the Weatherbond, Chen said Nippon Paint is addressing the unique needs of Filipino homeowners emphasizing that Nippon developed a product that goes beyond mere surface protection—“something that can truly stand the test of time, the challenges of our climate, and the everyday wear and tear of life. It's about building resilience, engineering strength, and ultimately, providing peace of mind.”

“Bringing Weatherbond Quartz to the Philippine market fills us with immense pride. We truly believe in the positive impact it will have on every home it graces. From the meticulous science behind its formulation to the sheer strength it provides to your walls, Weatherbond Quartz is a top-tier solution, offering the kind of protection every Filipino home deserves.”

150 Years of Trust: Shaping the Future of Design & Innovation THE brand’s 150th anniversary is not just a milestone—it’s a renewed pledge for the future of design and innovation. Reflecting this e nduring commitment, American Standard will proudly serve as the headline sponsor of the upcoming Asia Pacific Property Awards for the seventh consecutive year, underscoring its commitment to supporting and celebrating industry excellence. Later this year, the brand w ill launch the fourth American Standard Design Awards (ASDA), a platform challenging emerging designers to reimagine consumercentric bathroom solutions. This initiative will provide a stage for student talent to showcase their creativity to a judging panel of industry leaders.

L ooking ahead, American Standard will continue to transform e veryday experiences with the launch of new innovative solutions that blend industry-leading t echnology with purposeful design. These upcoming innovations aim to enhance daily routines by offering intuitive, user-friendly experiences that prioritize comfort and hy giene. By focusing on holistic design and practical elegance, the brand continues its commitment to elevating everyday living across the region.

"Building on 150 years of trust, we are shaping the future of design and innovation with industry partnerships that transform everyday s paces. By collaborating closely with architects, designers, and industry partners, we are creating spaces and homes that are functional, comfortable, and a pleasure to stay in. We look forward to continuing to deliver on the American Standard promise of creating homes that people will love every day with our industry partners." said Audrey Yeo, Leader, LIXIL Water Technology, Asia Pacific. For

EXPERIENCE Cebu in the summer and unwind at Sheraton Cebu Mactan Resort for a holiday getaway

TRENDWAY Builders, Inc. president Edmund Lee promotes the importance of nano coating technology to achieve energy efficiency.

NIPPON Paint execs unveil Weatherbond Quartz Series for unyielding exterior protection. Photo shows (from left:) Danny Diluvio II, Senior Sales Manager VisMin; Chen Lee Siong, General Manager; Joven Sagabain, a champion body builder to represent strength/durability; and Calvin Tan, Senior Sales Manager Luzon while making the thumbs up sign during the launch of Nippon Paint (Coatings) Philippines Inc.'s latest product innovation, the Weatherbond Quartz series.

B8 Wednesday, May 21, 2025 mirror_sports@yahoo.com.ph

Pacquiao, Roach together again at Wild Card gym

By Josef Ramos

Climb at Montmartre stirs Tour controversy

PARIS—Breaking with tradition at the Tour de France is stirring controversy.

Since race organizers announced plans last week to climb the iconic Montmartre hill in Paris during the final stage in July, the cycling world has been abuzz. Could the climb actually decide the Tour winner? Or disrupt the final sprint by injecting tactical uncertainty into what is usually a celebratory day?

Well, that remains to be seen. But one thing seems certain: The stage will be a spectacle.

At last year’s Olympics, massive crowds lined the streets of Montmartre—the area in the northern part of Paris that is popular among artists and offers grand vistas of the city—to cheer on riders. Inspired by the frenetic atmosphere

Caroline Tobias, project director Niño Deo Urquiaga Alona Quintos, Roselle Destura and John Mark Javier.

and willing to build on the momentum, Tour organizers said this month that riders competing in cycling’s biggest race this summer would climb the Montmartre hill and pass beneath the Sacré-Coeur basilica before “battling it out on a stage that may break from the traditions established over the past 50 years in the heart of the capital.”

Traditionally, the Tour final stage is largely processional until a sprint decides the day’s winner on the Champs-Élysées.

L ast year’s final stage was held outside Paris for the first time since 1905 because of a clash with the Olympics, moving instead to Nice.

The world famous avenue is back on the program this year for the conclusion of the 3,320-kilometer race.

T he inclusion of the steep Montmartre climb could dramatically change the dynamics of the stage. If the hill features just a few kilometers

from the finish line, or is climbed several times, pure sprinters will likely be dropped before they can compete for the stage win.

A nd if the general classification remains tight ahead of the final stage, the yellow jersey itself could be decided in Paris.

Riders not happy FULL details of the route will be presented at a news conference on Wednesday.

With a peloton roughly twice as big as it was at the Olympics, organizers are working with Paris authorities and the Prefecture of police to ensure the security of the race on the narrow and cobbled streets of the area.

B ut some top riders have already expressed their lack of enthusiasm about the addition.

“Montmartre was nice to do in

PSC’s Batang Pinoy upgrades for GenSan nationals

By Aldrin Quinto

THE Philippine Sports Commission (PSC) is upgrading the Batang Pinoy to a bigger and more modern national meet for school-based athletes for 2025.

To streamline pre-event meetings and resolve disputes quickly and fairly, the updated Batang Pinoy manual will be available in digital format for officials and delegates well ahead of the tournament set October 25 to 30 in General Santos City featuring competitions in 27 sports.

Pr oject director Ni ñ o Deo

Urquiaga also proudly revealed that the PSC’s Information Technology Department is developing a digital scheduling and scoring management system accessible via QR code.

“This is all internal, we did not hire external resources for this innovation,” Urquiaga said. “Prior to the meetings with regional officials we will have already distributed the manual so if

LIFE, indeed, is stranger than fiction.

there are questions and clarification, there will be no extended discussions.”

Our technical officials from the National Sports Associations will also be ready to answer questions,” Urquiaga told the Philippine Sportswriters Association Forum at the Rizal Memorial Sports Complex Conference Hall where he was joined by PSC chairman Richard Bachmann and members of the Batang Pinoy secretariat.

Urquiaga also lauded General Santos officials for an impressive transportation strategy with air-conditioned electric vehicles expected to be provided for athletes and accredited personnel for smooth and secure travel between billeting areas and competition venues.

“Not all LGUs can afford this transportation plan….We are so happy that the LGU of GenSan is very active, coming up with these solutions,” Urquiaga added.

From 14,000 participants last year in Puerto Princesa in Palawan, the PSC and the host province expect over

L ast year, Scottie Scheffler was arrested by police before the second round of the PGA Championship in Louisville, Kentucky, the hometown of boxing immortal Muhammad Ali.

This year, Scheffler won the PGA Championship.

In his v ictory speech, Scheffler said: “I definitely have some jokes that I will probably keep to myself about what happened last year.”

W hat happened was Scheffler drove into a no-zone area cordoned off by police as he was rushing to get to his teeoff on time.

To his credit, Scheffler calmly heeded

and for that, he received plaudits from the

15,000 to vie for honors in the sports conclave for school-based athletes 17 years old and below.

This year’s program has competiutions in aquatics, archery, arnis, athletics, badminton, basketball, boxing, chess, cycling, dancesport, futsal, gymnastics, jiu-jitsu, kickboxing, karate, muay, pencak silat, sepak takraw, soft tennis, tennis, table tennis, taekwondo, volleyball, weightlifting, wrestling and wushu.

Also gracing the forum presented by San Miguel Corp., PSC, Philippine Olympic Committee, Milo, Smart/PLDT and sports app ArenaPlus were Sharon Lameda, Rachel Ribo-Dumuk, Caroline Tobias, Alona Quintos, Roselle Destura and John Mark Javier.

Our main objective for this year’s Batang Pinoy is to provide the delegates an excellent experience as if they are competing in a global level of competition,” said Bachmann, adding that success would mean “seeing the smiles on the faces of the participants.”

the Olympics, it seemed good, a lot of people, a really good atmosphere,” twotime Tour champion Jonas Vingegaard told reporters this week. “But when they came to the Montmartre, there was only 15 riders left in the bunch. And when we do the Tour de France, there will be 150 guys fighting for positions on a very narrow climb. It could end up being more stress than they want to have.”

Even Remco Evenepoel, who won the Olympic men’s road race in Paris last year and the gold medal in the time trial, is also opposed to the idea.

“There will be enough battle for positioning in the first week of the Tour,” he told sports media Sporza.

“With Montmartre added, that would mean we have to do the same on the last day. We will be tired enough by then.”

E venepoel also lamented the fact that sprinters would be robbed of a rare chance to claim a prestigious win

on the world famous avenue.

“They get a big chance every year to sprint for a stage win on the ChampsElysées,” he said. “That chance is then taken away from them. In my opinion, Montmartre is an unnecessary obstacle.”

Marc Madiot, who manages the Groupama-FDJ team, said bad weather on the final day could make the stage more treacherous.

“Imagine a slight rain in Paris; it’s not going to be easy for the riders,” he told RMC Radio. “Do we want a show?

Do we want to visit Paris? Do we want to commemorate the Olympics? If we expect a real race, we could be disappointed. And if we do get a real race, we put everything that has happened in the last three weeks in jeopardy.”

The Tour starts from the northern city of Lille on July 5, and the women’s race kicks off on July 26 from the Brittany town of Vannes. AP

Memorable moments as Pacers, Knicks renew rivalry in semifinals

of the best-of-five series when guard John Starks believed Reggie Miller was getting away with fouling him and became frustrated. A s they ran downcourt face-to-face exchanging words, Starks leaned in and headbutted Miller. Starks was ejected and the Pacers went on to win the game. The choke! THE Knicks were up 70-58 after three quarters in Game 5 of the 1994 Eastern Conference finals, seemingly on their way to a 3-2 lead in the series. Miller then scored 25 points in the fourth quarter to rally the Pacers to a 93-86 victory,

Scheffler’s sizzling win on Monday (PH time) was about steadying himself against a serious threat from a heavyweight, literally, in the person of Jon Rahm from Spain. Quail Hollow in Charlotte, North Carolina, had been too kind to Scheffler the first three days, as he cruised to a 3-shot lead going into the final 18 holes.

B ut golf being usually unpredictable, the margin was gone, with Rahm forcing a tie with Scheffler after 9 holes as the world No. 1 from Texas hit only 2 of 7 fairways in that stretch.  Worst, Scheffler bogeyed 9 to all but see his lead of 3 strokes vanish into thin air. And then all too suddenly, the boss resurfaced. Scheffler hit a monster drive, approached to within 40 feet and two-putted for birdie on the par-5 10th.

A fter Rahm’s lead-tying 20-foot birdie lipped out on the par-three 13th, Scheffler birdied the par-four 14th to go 2-up on the Spaniard.

W hile it was smooth sailing from there for Scheffler, Rahm ran into more trouble, seeing water on the par-three 17th for double-bogey against another birdie on the same hole by Scheffler. I t was practically over from there as Scheffler was 6 shots

wellbeing of his father, but added that he believes his father could defy the odds as he always stays in shape year-round. Weight and fitness are not going to be a problem, the young Pacquiao said. Pacquiao lost his last pro fight against Cuban Yordenis Ugas on August 21, 2021, via unanimous decision in Las Vegas to to go 68-8-2 win-loss-draw with 39 knockouts—he joined the

taunting Knicks superfan Spike Lee on the sideline by making a choke signal The Knicks would win the next two games to reach the NBA Finals. 8 points, 9 seconds REGGIE MILLER’S flurry to steal Game 1 of the 1995 Eastern Conference semifinals remains one of the most memorable and improbable comebacks in

ahead with a hole left against Rahm, who went 5-over in his last 3 holes on 2 double-bogeys

ONE of those good old days for Manny Pacquiao and Freddie Roach. PHOTO USA TODAY SPORTS