engulfi ng the country’s infrastructure sector may prompt the Bangko Sentral ng Pilipinas (BSP) to deliver additional policy rate cuts next year, according to Japanese think tank Nomura.
“In terms of timing, we still pencil in a 25bp cut at BSP’s next meeting in December and another 25bp in Q1 2026 [i.e., a more frontloaded trajectory], as the corruption scandal
is hitting the growth outlook materially and the widening output gap is likely to reinforce BSP’s dovish stance, which recently emphasized the need to turn more accommodative to boost domestic demand after the corruption scandal,” Nomura said in its latest brief.
e Japan-based think tank said, however, that at this stage, it sees BSP sticking to 25bp increments as opposed to delivering 50bp in one go, given “currency weakness.”
Nomura also took into account its view of a Fed pause in December.
“Still, we continue to see a risk of BSP delivering additional policy rate cuts next year, if the more ‘severe scenario’ materializes, including a delay in the enactment of the 2026 budget and/ or a slow resolution to the scandal,” Nomura also underscored.
Apart from this, the think tank said a “necessary condition” for additional BSP cuts is (consumer price index) CPI
infl ation remaining within the BSP’s 2 to 4 percent target, “which we expect to be the case in coming months.”
In 2026, Nomura said it forecasts average CPI infl ation of 2.8 percent, still below BSP’s latest forecast of 3.1 percent and well within its 2 to 4 percent target.
As for the think tank’s take on the Philippine economy’s growth, it pointed out that it is maintaining its GDP
NET foreign direct investments (FDI) inflows have fallen by double digits both in August 2025 and in the first eight months of the year due to a mix of trade uncertainties and local political noise that weighed on investor sentiment.
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed FDI net inflows plunged by 40.5 percent to $494 million in August 2025 from $830 million in the same month a year ago.
During the month, most of the net FDIs came from Japan, with manufacturing as the leading recipient.
Broken down, nonresidents’ net investments in debt instruments
plummeted by 73.8 percent yearon-year to $145 million in August 2025 from $553 million. Net investments in debt instruments consist mainly of intercompany borrowing and lending between foreign direct investors and their subsidiaries or affi liates in the Philippines. e remaining portion of net
RICE WHOLESALE PRICE IN OCT FALLS TO LOWEST LEVEL IN 3YRS
B
@adapelonia
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HE average wholesale price of rice in October fell to its lowest level in over three years, according to the Philippine Statistics Authority (PSA).
Data from the PSA showed that the average wholesale quotation for regular milled rice dropped by 22.6 percent to P34.68 per kilo in October, from P44.79 per kilo in the same period last year.
e latest regular milled rice price is the lowest level in three years and seven months, or since March 2022, when it settled at P34.6 per kilo, based on PSA data.
Figures from the PSA also indicated that the price of wellmilled rice averaged P39.48 per kilo last month, which was the lowest since the P39.29 per kilo recorded in March 2023.
On a monthly basis, the whole-
BMI, a Fitch Solutions Company, has slashed its growth forecast for the Philippine economy this year to 4.9 percent from its initial 5.4 percent projection, after the economy grew by the slowest pace since the pandemic in the third quarter due to weaker domestic demand and stunted government spending.
Given the “underperformance” of the Philippine economy in the third quarter—it grew by only 4 percent—BMI noted that GDP will have to grow by 6.5 percent in the fourth quarter to hit its initial 5.4-percent forecast for 2025, which it pointed out is now “implausible.”
With the storm season “largely ending” in the third quarter, this
should support “faster growth” in the fourth quarter, it noted.
However, the growth of the economy in the remaining three months of 2025 may not be able to dodge tariff -related headwinds, BMI pointed out.
“As such, we expect only a modest acceleration in Q4 and have revised down our 2025 forecast to 4.9 percent,” BMI said.
BMI expects household consumption to pick up, with “robust” remittances supported by a weaker peso and the frontloading of transfers ahead of the US 1-percent remittance tax in 2026.
However, it expects this boost in remittances in the fourth quarter to be temporary and anticipate a slowdown in 2026.
is is because about 40 percent of remittances come from the US— the largest source of remittances—
and the Trump administration has tightened immigration policy and imposed a 1-percent tax on remittances. It further explained that academic research has found that every 1-percent increase in the cost of sending remittances, the amount remitted falls by around 1.6 percent. “Remittances, therefore, are likely to drag on consumption growth into 2026, diminishing the positive effects of easier monetary policy,” BMI noted.
2026 forecast
FOR 2026, BMI is maintaining its forecast at 5.2 percent, but it said: “ e much lower 2025 base makes this a more pessimistic projection than before.”
In the coming quarters, BMI sees slower remittances growth, corruption probe and the tariff uncertainty to persist as key head-
winds for the Philippines. In fact, BMI sees slower private consumption and government spending in 2026. For private consumption, it sees a growth of 3.3 percent in 2026, slower than its 3.6 percent projection for this year, as expects that “slowdown in remittances will weigh on private consumption.” Govt spending
MEANWHILE, BMI is seeing a 1.2-percent growth on government spending for next year, slower than its 1.4-percent prediction for this year due to “widening fi scal deficit.” “ e government will rein in its spending due to the widening fi scal deficit. e corruption probe will also slow government spend-
growth forecast at 4.7 percent, which represents a “sharp” slowdown from 5.7 percent in 2024 and would be the lowest reading since the pandemic.
“We believe the drag from the graft scandal in Q3 is just the start, with fiscal spending likely to worsen in the next 3-4 months,” said Nomura.
In addition, the think tank noted it continues to incorporate some “spillovers” on other components of domestic demand, broadening from household consumption to private investment spending.
“Our forecasts also continue to take into account the impact of the US tariffs, which pose significant headwinds to goods exports,” Nomura noted. Andrea E. San Juan
GLOBE SETS UP AI ‘KITCHEN’ MODEL WITH AMAZON WEB
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clude enhanced disaster recovery capabilities and platform engineering improvements to strengthen network resiliency.
“By leveraging AWS’s advanced cloud capabilities and exploring AI-driven innovations across our operations, we’re positioning Globe to drive faster innovation, enhance operational efficiency through intelligent automation, and create more personalized experiences for our customers,” Cruz said.
Urgent, climate-resilient urban transition focus of experts’ gab
AS the country reels from destructive typhoons and experiences a widening gap between urban growth and livability, Senator Loren Legarda has called for urgent, climateresilient urban transformation as she welcomed delegates to a high-level gathering of experts on Monday.
“It is my honor to host this luncheon and to welcome you all to Manila.”
Legarda began, in her keynote address at the luncheon for speakers of the Trans-Pacific Sustainability Dialogue (TPSD) 2025: Sustainable Cities and Communities. “We gather in that same spirit of candor, respect, and search for common ground.”
Speaking before delegates from the Ban Ki-moon Foundation,
Stanford University’s Asia-Pacific Research Center, the University of the Philippines Asian Center, and other international institutions, Legarda paid tribute to former UN Secretary-General Ban Ki-moon, whom she had worked with on shared advocacies for climate action, disaster resilience, and sustainable development.
“Your leadership, from championing the Sustainable Development Goals to guiding the Paris
Agreement, has shown us all that even complex global challenges can be met through empathy and collective resolve,” the four-term senator said.
“The Philippine Senate’s Resolution No. 929, which I had the honor to sponsor last year, was our modest tribute to you, a leader who has built bridges of cooperation across continents.”
Legarda, a long-time advocate of environmental protection and climate action, stressed her message on Sustainable Development Goals (SDG) 11: Sustainable Cities and Communities. She warned that the country’s urban development has outpaced its safeguards, citing the devastation left by Typhoons Tino and Uwan.
“It is like nature is speaking to us, telling us that our urban growth has outpaced our safeguards,” Legarda said. “It is a hard truth; our cities are not yet built for the climate realities we face.”
Legislative action must match the scale of the challenge, she said.
She cited the Sustainable Cities and Communities Act, the Clean Gateway Cities Act, the Urban Walkability and Safe Pathways Standards Act, the Government Sustainable Hybrid and Electric Fleet Transition (SHIFT) Act, and the Noise Pollution Control and Abatement Act as key measures aligned with SDG 11.
“These measures are important,” Legarda said, “but what matters is the spirit with which they are implemented, the spirit of long-term vision and care for both people and planet.”
Legarda closed with a call to deepen cooperation across sectors and generations.
“Let this Dialogue be one such bridge, linking research and policy, past and future.”
The Trans-Pacific Sustainability Dialogue 2025 continues through November 11, convening senior policymakers, development experts, and scholars to accelerate progress on SDG 11 across the Asia-Pacific. Butch Fernandez
8-MO NET FDI INFLOWS PLUNGE 22.5% TO $5.2B
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investments in debt instruments pertains to investments made by nonresident subsidiaries/associ-
ates in their resident direct investors, such as reverse investment. Reinvestment of earnings also dipped by 3.6 percent year-on-year to $203 million in August 2025
from $210 million. Meanwhile, nonresidents’ net investments in equity capital rose by 121 percent year-on-year to $146 million from $66 million.
Jan-Aug inflows down 22.5%
FROM January to August this year, FDI net inflows declined by 22.5 percent to $5.2 billion from $6.7 billion during the eight-month period last year.
The central bank said that equity capital placements were sourced primarily from Japan, United States, Singapore, and South Korea for the first eight months of the year. Industries that received most of these investments were manufacturing, wholesale and retail trade and real estate, the BSP added.
Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, traced the drop in FDIs to the mix of trade uncertainties stemming from US tariffs and protectionist policies, recent local
political noise affecting investor confidence, and disruptions caused by typhoons in recent months.
Ricafort said higher US import tariffs and trade wars led to a waitand-see stance on global investments and for some manufacturers and exporters in terms of their production and capacity.
Some local political noises, including geopolitical risks such as the China-Philippine tensions in disputed waters, “could weigh on market and investor sentiment until anti-corruption measures/ reforms are taken seriously, going forward,” Ricafort added.
FDI includes investment by a nonresident direct investor in a resident enterprise, where the equity capital in the latter is at least 10 percent. It also includes investments made by a nonresident subsidiary or associate in its resident direct investor.
FDI can be in the form of equity capital, reinvestment of earnings, and borrowings.
RICE WHOLESALE PRICE IN OCT FALLS TO LOWEST LEVEL IN 3YRS
sale price of regular milled rice and well-milled rice were also 1.3 and 0.3 percent lower than the P35.14 per kilo and P39.61 per kilo recorded in September, respectively.
For regular milled rice, the lowest average wholesale price was posted in the Cagayan Valley, a leading rice-producing region in the country, where it reached P29.75 per kilo in the reference month.
The highest wholesale price for regular milled rice was recorded in the National Capital Region, averaging P45.69 per kilo.
In terms of well-milled rice, the lowest average wholesale price was in SOCCSKSARGEN, where it reached P35.23 per kilo. The highest level was recorded in the National Capital Region at P51.51 per kilo.
Earlier, the Department of Agriculture (DA) said the agency remains positive that the country’s palay output would hit a record 20.2 million metric tons (MMT) this year, owing to the latest recorded palay harvest. (See: https:// businessmirror.com.ph/2025/11/04/ da-sees-20-2-mmt-palay-harvest-thisyear/)
Based on latest PSA data, the country’s palay production in the third quarter rose to 3.75 million
‘BUSINESS AS USUAL’ IN BPOS AMID ‘UWAN’? DOLE TAGGED
immediately act—not tomorrow, not after the typhoon has passed, but now...DOLE, serve the workers, not the employers,” the letter read.
’Be lenient and understanding’ MEANWHILE , in an earlier text message to reporters, Labor Secretary Bienvenido E. Laguesma reminded employers to exercise leniency toward workers affected by the storm.
“DOLE advises employers to be lenient and understanding in the treatment of employees who are unable to report for work due to weather disturbances like the coming Uwan and they should prioritize and ensure the safety and health of their employees over any other consideration,” Laguesma said. He added that employees who still report for work despite the weather should be given additional pay or incentives in recognition of their effort.
Under Labor Advisory No. 17, Series of 2022, employers in the private sector may suspend work as a management prerogative, in coordination with their safety and health committee, designated safety officer, or any other responsible company official. The advisory states that employees who fail to report are generally not entitled to pay unless company policy or a collective bargaining agreement grants paid leave.
Those who report for work are entitled to their full regular pay as long as they render at least six hours of duty. If they work for less than six hours, they are entitled to proportionate pay unless a more favorable arrangement applies.
DOLE also emphasized that workers who fail or refuse to work due to serious safety risks brought about by weatherrelated hazards could not be penalized.
metric tons (MMT) on the back of expanded harvest area.
In the first semester, palay output stood at 9.08 MMT. The last time palay output breached the 9-MMT mark in the first half of the year was in 2023, when it reached 9.026 MMT.
Agriculture officials are banking on a 7.5 MMT expected palay harvest in the four quarter to hit its target this year. If realized, the DA’s forecast would be higher than the all-time high palay output recorded in 2023 at 20.06 MMT.
Historically, the second half of the year accounts for over half of the total rice production.
PHL touts PPPs at London Summit to boost tourism
fairs, serving as an annual gathering of leaders, ministers, and industry professionals.
Visitor arrivals from the United Kingdom reached 126,301 from January to September 2025, up 7.62 percent from the same period last year. It was ranked eighth among the top source markets for the Philippines this year.
The DOT cited cited a report in the Market Research Future that the UK Travel and Tourism Market is projected to expand at a compound annual growth rate of 7.84 percent from 2024 to 2035, driven by digital innovation, sustainability priorities, and increasingly personalized travel experiences.
ing,” BMI said. BMI is seeing a 1.9-percent growth for fixed capital formation next year, compared to its 1.1 percent projection for this year due to further rate cuts by the Bangko Sentral ng Pilipinas (BSP).
“Investment activity will pick up on the back of further interest rate cuts by the BSP, but investment growth will remain below historical average,” it noted.
This year, 27 stakeholders from the tourism industry joined the WTM, where they held businessto-business meetings with foreign travel buyers looking to score good deals for their respective clients. WTM released its outlook on the global travel landscape and cited the Philippines’ among the fastest-growing in terms of inbound tourism expenditures. (See, “Visitor spend in PHL to surge 80%
Economy
Lawmaker presses passage of National Land Use Act
IBy Jovee Marie N dela Cruz @joveemarie
N the wake of the torrential rains and severe flooding brought by Typhoon Tino and Super Typhoon Uwan, an assistant majority leader on Monday pressed for the immediate passage of the proposed National Land Use Act, emphasizing that the measure is vital to promoting balanced development and bolstering environmental protection amid ongoing climate and urbanization challenges.
Assistant Majority Leader Mark Anthony
Santos said the House passed the National Land-Use Bill on third and final reading during the 19th Congress, but the Senate was unable to act on the measure.
Santos, who represents Las Pinas, said the prolonged delay in passing the landmark legislation has left the country vulnerable to unchecked commercial expansion, environmental degradation, and disaster risks, particularly in areas where land conversion continues without a clear, unified planning framework.
He noted that the Senate Committee on Environment, Natural Resources, and Climate Change—previously chaired for
nearly nine years by former Sen. Cynthia Villar and now led by her daughter, Sen. Camille Villar—plays a critical role in advancing the measure.
The proposed National Land Use Act establishes a coherent, long-term national policy on land allocation and zoning, ensuring that residential, agricultural, industrial, and conservation areas are properly planned and protected. The measure has been pending in Congress for decades, repeatedly stalling despite broad support from environmental groups, local governments, and development planners.
Last July, Santos urged President
Marcos to certify as urgent the passage of the NLUA—a measure that has remained stalled in Congress for decades. There have been different versions of the NLUA bill in Congress since 1994.
S antos said the country continues to experience worsening floods, massive deforestation, and heightened climate vulnerability—issues that fall squarely under the oversight responsibility of the Senate committee tasked with safeguarding the environment and protecting affected communities.
Make Sustainability a Purpose of Business in Society
By Henry J. Schumacher
FURTHER to my article last week:
Culture is the glue putting values into action, I would like to focus today on the need of business leaders to redefine the role of business in society. The purpose of a corporation should no longer advance only the interests of shareholders. Instead, business leaders must also invest in their employees, protect the environment, and address issues of poverty, hunger and lacking education and health issues in areas around their offices and factories.
In a recent Business Roundtable, business leaders vowed to “protect the environment by embracing sustainable practices across our businesses” and “foster diversity and inclusion, dignity and respect.”
It is good to note that sustainable development or a sustainability culture seems to be taking root. There are quite a number of companies in the Philippines that are subscribing to sustainability, focusing on both—profit and purpose. Many issues have shaped it: changes in climate patterns, geopolitical conflicts, global media networks, innovations in the marketplace, the success of “green” business, and many other factors, including the need to address poverty, hunger, bad health and limited education among the less privileged.
There is also a set of initiatives for further reducing social and economic inequities. Much will depend on the actions businesses, government (both national and local), educational institutions, NGOs and other stakeholders will take to address the most demanding Sustainable Development Goals (SDGs) of the UN, to which the
Philippines is subscribing.
If these entities can work together to align their values and organizational processes around sustainable principles, then there is a greater chance of addressing, ameliorating, and sometimes even solving a range of social and environmental problems.
As sustainability principles are well supported by the scientific and managerial literature, many of them seem likely to be adopted by the wider culture. There are also indications that individual employee values are already well aligned with sustainability principles. We saw the beginning in millennials but see a much larger focus on sustainability in centennials, who insist that tech-touch must be accompanied by human-touch.
It’s good to see that the SEC has issued guidelines on the implementation on ‘sustainable development’!
It is also good news, from a sustainability point of view, that well-performing organizations have sustainability qualities. That is, the degree to which sustainability practices and strategies are being implemented—and the extent to which those strategies reportedly produce benefits—are stronger among the organizations reporting higher performance in the areas of revenue
Isabela coop gets ₧60-M rice processing system
TBy Ada Pelonia
HE Department of Agriculture (DA) has turned over a P60-million rice processing system to a farmer cooperative in Isabela.
In a statement, the DA said it has delivered a P60.6 million Rice Processing System II (RPS II) to the Isabela Seed Grower’s Multi-Purpose Cooperative under the Rice Competitiveness Enhancement Fund (RCEF) Mechanization Program last week. The RPS II package includes a multistage rice mill and recirculating dryers aimed at boosting milling efficiency, improving grain quality, and increasing farmers’ incomes in Isabela, one of the country’s leading rice-producing provinces.
RPS II has a multi-stage rice mill with a capacity of two to three metric tons (MT) per hour and two or more recirculating dryers, each with a capacity of 12 MT per batch, the DA said.
Agriculture Secretary Francisco Tiu Laurel Jr. said the initiative is part of the government’s push to modernize the rice sector and create a more progressive, technology-driven agriculture industry.
“This is part of the government’s broader
effort to modernize the rice industry and support the Bagong Pilipinas vision of a more progressive and technology-driven agriculture sector,” Tiu Laurel said. Meanwhile, the DA also awarded P77 million worth of farm machinery to qualified farmer beneficiaries across the province.
The package includes tractors, transplanters, harvesters, and other equipment to boost productivity and strengthen mechanization in local communities.
For his part, Agriculture Undersecretary Christopher Morales stressed the critical role of mechanization in helping farmers remain competitive amid rising production costs and climate pressures.
“Through these interventions, we are ensuring that Filipino farmers not only produce more rice but also earn more from their hard work,” he said. The DA reaffirmed its commitment to continuous investments in modern machinery, post-harvest facilities, and training programs that will strengthen the rice sector.
“These initiatives reflect the government’s
See “Coop,” A6
growth, market share, profitability and customer satisfaction. Whether or not sustainability practices actually result in better market performance remains an open question, but at least it becomes clearer that sustainability qualities do not prevent organizations from achieving
market success.
On the contrary: when implemented wisely and well, sustainability-related strategies and practices are simply very good business!
Feedback is welcome; please email me at hjschumacher59@gmail.com.
EBy Lenie Lectura @llectura
LECTRICITY consumers and motorists are facing another round of price increases, industry stakeholders announced on Monday. For power rates, the Manila Electric Company (Meralco) said there will be a
More
By Lorenz S. Marasigan @lorenzmarasigan
MORE than a thousand passengers and nearly 200 roll-on, roll-off vessels (RoRo) were stranded in several ports as of noon Sunday following widespread trip cancellations triggered by Super Typhoon Uwan.
Lift suspension of flood control projects, Albay legislator asks
By Jovee Marie N dela Cruz
FOLLOWING the devastation caused by Super Typhoon Uwan, a lawmaker from Albay on Monday raised urgent concern over the national moratorium on flood control projects, appealing to the national government to lift the suspension and warning that the ban had worsened the impact on affected communities in the province.
Albay Rep. Raymond Adrian E. Salceda said the ban prevented the repair of flood control structures previously damaged by Typhoon Kristine, leaving several areas vulnerable when Uwan made landfall with Signal 4 winds.
“Because of the national ban on flood control projects, many structures that were damaged by Typhoon Kristine remain unrepaired,” he said. “During Typhoon Uwan, we conducted temporary sandbagging opera -
tions that delayed the entry of floodwaters long enough for our evacuation efforts to be completed. Eventually, the sandbags gave way.”
Salceda said at least 25,000 families were preemptively evacuated in the district that he represents, with the final number still under validation. Relief operations are ongoing, with food supplies sufficient for around 10,000 families so far. The district is now coordinating with the Department of Social Welfare and Development (DSWD) to scale up assistance to reach all affected communities.
With this, Salceda urged the Department of Public Works and Highways (DPWH) to immediately lift the moratorium for areas with clear scientific basis and urgent needs.
“We appeal to DPWH to prioritize appropriate, scientific, and evidence-based flood control projects for the district,” he said.
Salceda said road clearing operations are being conducted by DPWH, with the Bureau of Fire
Protection and other agencies assisting in debris and silt removal. Power restoration efforts are underway in coordination with Albay Electrict Cooperative.
The district recorded a zerocasualty outcome in all townss except Libon, where one fatality was reported. Salceda extended condolences to the affected family.
Damage assessment continues and is expected to be finalized in the coming days. Meanwhile, Salceda said the district will launch a palay-buying program using Akap Rice funds to help farmers who were able to harvest ahead of the typhoon.
“Although we recorded minimal loss of life, this should not be taken to mean that our district no longer needs help,” Salceda said.
“The zero-casualty record reflects our preparedness, but the physical and economic damage remains extensive. We appeal to the national government and to relief organizations for sustained support as we begin the work of recovery and rehabilitation.”
Groups warn on weak child safeguard in emergencies
Bless Aubrey Ogerio
RECURRING emergencies
continue to expose deep gaps in the country’s disaster preparedness, leaving children and girls most at risk, humanitarian groups have warned.
As the country recovers from Typhoon Tino (international name: Kalmaegi) and Super Typhoon Uwan (Fung-Wong), which entered the country over the weekend, compounded the risks for already affected populations.
“These overlapping emergencies are pushing children to the edge,” said United Nations Childrens Fund (Unicef) Philippines Representative Kyungsun Kim.
“Unicef stands ready to support the government in providing safe water and restoring health, education, and protection for children and their families.”
Meanwhile, Plan International Pilipinas has deployed emergency response teams to the hardest-hit areas, conducting rapid assessments to deliver water, hygiene kits and menstrual hygiene management supplies.
“The situation is dire—children and young women are in grave danger,” Plan International Pilipinas executive director Pebbles Sanchez-Ogang said. “In crises like these, girls are often the most vulnerable.”
“They urgently need safe
spaces and access to essential health care and services to help them recover and rebuild their lives. Our teams are working around the clock, but we cannot do it alone. Every act of generosity can help save lives.”
Report from the National Disaster Risk Reduction and Management Council (NDRRMC) showed 281 casualties among children 18 and below, including infants as young as four months. Flooding, landslides and damaged infrastructure have displaced thousands, including at least 5,000 children.
The province of Cebu, which was jjust recovering from a 6.9-magnitude earthquake weeks earlier, has
been hit particularly hard.
“Before, during, and after emergencies, we are on the ground, providing vital assistance and hope to children and their families, including those in the most remote and challenging locations,” Kim said.
The Philippines averages 20 tropical cyclones annually, making it one of the world’s most disasterprone countries.
Experts warn that storms are growing more frequent and severe due to climate change, intensifying the risks to vulnerable populations. (See: https://businessmirror.com.ph/2025/10/03/ super-typhoons-now-warmerwetter-under-current-climate/)
Nartatez tells cops: Secure evacuation center
By Rex Anthony Naval
THE acting National Police (PNP) Chief, Lt. Gen. Jose Melencio Nartatez Jr., on Monday ordered local commanders to secure evacuation centers and assist displaced residents when they start returnig to their communities.
“Based on the initial assessment reports, this typhoon left a swath of destruction, particularly in the Bicol region. As some of our affected kababayan start to go back to their communities, the PNP, along with other government agencies, will be there to provide assistance,” Nartatez said.
One of the main priorities right now, he said, is the road clearing operations in order to ensure the smooth movement of relief goods and equipment in severly affected areas.
As authorities expect that a number of people will stay in the evacuation centers, Nartatez assured police presence.
In fact, he said more than 2,100 personnel were initially deployed in various evacuation centers, including around 400 personnel from the PNP’s Women and Children Protection Desk. Close to one million people were preemptively evacuated due to Uwan, according to the National
Disaster Risk Reduction and Management Council.
At the same time, the PNP reported that no crime incidents have been so far reported in the regions affected by Uwan.
“For now yes, we can say that as of this reporting we have not received any reports of any looting or criminal incident [in the affected regions],” the PNP Directorate for Police Community Relations (DPCR) deputy chief, Brig. Gen. Vina Guzman, said in a press briefing at Camp Crame, Quezon City.
To protect evacuees, especially women and children, Guzman said special police desks were established in evacuation centers to discourage human traffickers and other criminal elements from taking advantage of the situation.
“Sa mga ganitong pagkakataon ay may mga nanamantala, so napakaimportante ang papel ng [Women and Children”s Desk] not only to secure ang mga kababaihan at ang mga bata but also to ensure na walang mananamantala sa mga vulnerable evacuees [in Times like this there are those who will take advantage of the situation, so the role of Women and Children’s Desk is important not only to secure women and children but also to ensure that nobody will take advantage of the vulnerable evacuees],” she said.
The move was in accordance with Nartatez’s directive to police units to help secure evacuation centers, Guzman added.
Typhoon prompts deferment of DOJ flood control probe
By Joel R. San Juan
THE Department of Justice (DOJ) has moved to Friday (November 14) its first preliminary investigation on the five ghost flood control projects in Bulacan owing to the onslaught of Typhoon Uwan.
The preliminary investigation was originally scheduled on Monday but did not push through as Malacañang decided to suspend work in government offices due to heavy rains and floods across the country.
“In view of the suspension of work in government offices due to the typhoon, the initial hearing for preliminary investigation originally scheduled on November 10, 2025 for the 5 cases related to flood control projects in Bulacan shall be moved to November 14, 2025 [Friday], at which time respondents will receive copies of the complaints,”
DOJ spokesperson, lawyer Polo Martinez, said.
The five cases were previously referred to the Office of the
Ombudsman last October 14 for evaluation but were returned to the justice department after more than a week to avoid repetition of proceedings.
The preliminary investigation would determine whether there is sufficient evidence to file malversation under Article 217 of the Revised Penal Code, falsification by public officers under Article 171 of the RPC, perjury under Article 183 of the RPC, and Section 3e of Republic Act 3019 (Anti-Graft and Corrupt Practices Act) against the respondents.
The Ombudsman has deputized the DOJ to conduct the preliminary investigation on the five cases, which subsequently issued subpoenas against the respondents two weeks ago. Martinez earlier said the justice department is eying to conclude the preliminary investigation proceedings within a month. Among the respondents in the five cases are former Department of Public Works and Highways (DPWH) engineers Henry Alcantara, Brice Hernandez, Arjay Domasig, and Jaypee Mendoza.
Pope sends message of support to typhoon-affected communities
By Justine Xyrah Garcia
POPE Leo XIV has expressed solidarity with the victims of the recent typhoon that struck several parts of the Philippines, leaving widespread destruction and loss of lives.
During the Angelus prayer at St. Peter’s Square in the Vatican on Sunday, the Pope said he stands with Filipinos as they face the effects of the disaster.
“I express my closeness to the people of the Philippines, who have been hit by a violent typhoon. I pray for the deceased and their families, as well as for the injured and displaced,” the Pope said.
The message came as the country continues to recover from Typhoon Tino, which hit several areas in the Visayas, and Mindanao, last week.
Based on PNP records, 9,853 of the 28,008 evacuation centers nationwide are currently occupied, sheltering 443,073 families or 1,416,063 individuals displaced by Uwan, which has since weakened into a typhoon.
Aside from providing security in evacuation centers, Guzman said the PNP also assists in relief distributions and clearing operations in the aftermath of the super typhoon.
In the same press briefing, PNP spokesperson Brig. Gen. Randulf Tuaño said a total of 21,682 police officers were deployed to provide security and assist in search and rescue operations in four regions affected by Uwan.
He added that PNP units conducted 62 search, rescue and retrieval (SRR) operations, successfully rescuing 10,112 individuals from life-threatening situations.
“This is a time when unity truly matters,” Tuaño said. “Our police officers on the ground are working hand in hand with local authorities, volunteers, and partner agencies to bring help where it is most needed.”
Nartatez, for his part, commended all deployed personnel for their continued commitment despite the risks.
“Our police officers continue to take action to ensure the safety and welfare of our fellow citizens. In times of calamity, the PNP never hesitates to respond to the call of duty,” he said in a statement. With PNA
Latest data from the National Disaster Risk Reduction and Management Council (NDRRMC) showed that the typhoon left at least 224 people dead, 526 injured, and 109 others missing.
The NDRRMC also noted that more than 946,000 families, or about 3.3 million individuals, were affected across eight regions.
Now, even as recovery efforts continue, Luzon and the Visayas are being battered by another storm—Typhoon Uwan, which intensified into a super typhoon before making landfall in Aurora province on Sunday evening.
Uwan has since weakened into a typhoon but continues to bring
heavy rains and strong winds across large parts of the country.
According to the Office of Civil Defense (OCD), more than one million residents have been evacuated ahead of the typhoon’s landfall. The OCD also reported that over 130 areas are currently flooded, while initial data show at least two people have died due to the typhoon.
Caritas Philippines, the Catholic Church’s humanitarian arm, has launched a nationwide appeal for aid to help victims rebuild their homes and livelihoods.
“Let us continue to extend our solidarity and compassion to the families affected by Typhoon Tino. Together, through our collective efforts and generosity, we can help them rebuild their homes and bring hope in the midst of devastation,” Caritas Philippines said in a social media post.
Among the immediate needs of affected families are clean water, food packs, household essentials, sleeping kits, and materials for temporary shelter.
Caritas Philippines also encouraged donations of solar lamps, water containers, sanitation and hygiene kits, and basic medicines to support ongoing relief operations. Those who want to send monetary donations may be sent through Caritas Philippines bank accounts under CBCP Caritas Philippines Foundation Inc. at BPI (4951-007116/4951-007108), Metrobank (632-7-632028586), or BDO (004508034192).
Govt lifts land, air travel suspension
THEDepartment of Transportation (DOTr) and the Civil Aviation Authority of the Philippines (Caap) have announced the reopening of land and air transport hubs as Typhoon Uwan further weakened over the West Philippine Sea.
In an advisory on Monday, the DOTr said all travel suspensions were lifted, but emphasized that the safety of passengers, drivers, conductors, and public utility vehicles (PUVs) must remain paramount.
“All transport service entities are advised to take precautionary measures as they resume provincial and city operations,” it said.
DOTr acting Secretary Giovanni Lopez visited the bus terminals in Legarda, Manila, in line with President Marcos’ directive to ensure the safety and security of commuters
while Uwan is still inside the Philippine Area of Responsibility. Lopez assessed the situation of the stranded passengers at the bus terminals of the Florida Bus Company and Victory Liner. “AngbilinsaatinngPangulodapatsafe angmgapasahero,lalung-lalonangayong may bagyo. Hindi natin puwedeng i-risk angsafetynilatinitiyaknatinhindilangsa mga pasahero, kundi na rin pati sa driver at konduktor, na iyong mga dadaanan nila pauwisakanilangprobinsyaayligtas [The President has instructed us that passengers must be safe, especially now that there is a typhoon. We cannot risk their safety. We assure not only the passengers, but also the drivers and conductors, that the routes
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DSWD delivers ₧6.4M in aid as typhoon relief operations expand nationwide
By Jovee Marie N. Dela Cruz @joveemarie
THE Department of Social Welfare and Development
(DSWD) is ramping up relief operations to aid families affected by Super Typhoon Uwan.
As of now, the Department has delivered over P6.4 million in humanitarian assistance, including family food packs (FFPs) and nonfood items (NFIs).
“Even before Typhoon Uwan made landfall, we had nearly 2 million family food packs prepositioned across the country. As distributions continue, we are ensuring that communities receive assistance promptly,” DSWD Secretary Rex Gatchalian said.
To meet the urgent needs of affected areas, the department has doubled its repacking operations, raising daily production from 18,000 to 25,000 family food packs. “This ensures that local government units [LGUs] have sufficient supplies to respond to their constituents’ needs,” Gatchalian added.
The department’s relief response is nationwide and coordinated, with no single area prioritized over another. “Every affected community is a priority. Our teams are deployed wherever they are needed to reach the most vulnerable families,” he said.
Marcos mobilizes relief efforts for over 800,000 affected by Typhoon ‘Uwan’
By Samuel P. Medenilla @sam_medenilla
Gatchalian explained that response operations for recent weather disturbances and disasters were distributed across multiple regions rather than staying focused on a single location.
“Many people think that our equipment is all in Metro Manila. That’s not the case. Just like our family food packs, they are already prepositioned in our regional hubs,” Gatchalian pointed out.
The DSWD chief mentioned that several specialized vehicles and equipment have already been deployed to support the ongoing relief operations for Super Typhoon Uwan. These include a mobile command center, a mobile kitchen, water trucks, and water treatment units.
During the recent backto-back relief operations for calamities, Gatchalian thanked all DSWD personnel for their dedication to serving disaster-stricken families.
“I am grateful to all DSWD personnel, social workers, and community development workers because even with back-toback typhoons, earthquakes, and volcanic activity, they never stop. They are the ones who truly power the Department, and I am very thankful to the 40,000-strong DSWD workforce who stand with us during these challenging times,” Gatchalian said.
Zero casualty in Pampanga after Super Typhoon ‘Uwan’
By Ashley J. Manabat
ANGELES CITY, Philippines—Pampanga reported zero casualty after Super Typhoon “Uwan.” No one was hurt and no lives were lost, according to Vice Governor Delta Pineda on Monday, November 10.
Pineda issued an early advisory as both provincial and local government units activated their disaster preparedness protocols ahead of the storm.
Sa kabutihang palad zero casualty ang status sa Pampanga. Walang nasugatan, walangnasawi,” Pineda said.
On November 9, the provincial and local government units, and the Clark Development Corporation intensified flood-prone areas as part of ongoing precautionary measures. Clearing teams were also prepositioned to immediately respond to fallen debris along major roads and critical utility routes.
Despite the province’s zero casualty record, 39 villages across Pampanga were reported flooded amid high tides and the continuous flow of water from Aurora and Nueva Ecija through the heavily silted Pampanga River. The towns of Masantol and Macabebe remain the most affected with floodwaters reaching one to three feet deep in several barangays, some of which have been submerged since July.
Pineda said around 1,700 families were transferred to evacuation centers on Friday ahead of the typhoon’s landfall. In Arayat town, residents of two sitios in Barangay San Juan Bano were advised to remain in evacuation centers until Monday due to possible landslides. Classes across the province remain suspended until Tuesday but work in government offices has resumed.
Masantol Mayor Danilo Guinto has urged Public Works and Highways Secretary Vince Dizon to priorities the construction of flood control system and the installation of pump -
ing stations to protect low-lying areas from recurring floods. Meanwhile, Senator Lito Lapid called for the continued desilting of the Pampanga River to allow water to flow more freely toward Manila Bay.
Pineda expressed gratitude to the transport sector and Apalit Mayor Jun Tetangco for providing trucks and offering free rides to residents traveling between Apalit and the flood towns of Masantol and Macabebe.
He also encouraged Kapampangans to support tree-planting initiatives in the Sierra Madre mountain range which he said has long shielded Pampanga and nearby provinces from stronger typhoons.
“It’s time to protect our mountains and restore the forests by planting more trees. It’s time to protect Sierra Madre,” Pineda said. Some private institutions also extended assistance. As in previous weather disturbances, all SM Malls in the province (Clark, Pampanga, Telabastagan, Downtown) opened their doors to those seeking temporary shelter. Overnight parking fees were waived, and free wifi, charging stations, and help desks were made available in designated areas within the mall premises.
Pampanga business leaders Rene Romero, Pruds Garcia, Macky Nicdao, and Chef Felix Asuncion also organized a collective effort to help those affected by the typhoon. They delivered food packs prepared by Mekeni Food Corporation to the evacuation center at Rafael Lazatin Memorial High School in Barangay Balibago.
As of this morning, the sun is up, offering some relief after a long night of strong winds and heavy rain. However, gusts remain strong.
While nearby provinces endured impacts of Super Typhoon Uwan, Pampanga’s early coordination and community-wide preparedness efforts helped prevent loss of life. Local authorities continue to advise residents to stay alert and avoid unnecessary travel until conditions fully stabilize.
AFTER Super Typhoon “Uwan” (international name Fung-Wong) battered parts of the country in the last two days, affecting over 800,000 people, President Ferdinand Marcos ordered concerned government agencies to provide immediate relief to the typhoon victims.
The Chief Executive closely monitored the developments from the latest weather disturbance, which made landfall in Dinalungan, Aurora on Sunday evening, from the Presidential Security Command (PSC) Operations Center at the Malacañang compound in Manila.
“During the meeting this morn -
ing (November 11), President Ferdinand Marcos, Jr. ordered the Department of Social Welfare and Development or DSWD under the leadership of Secretary Rex Gatchalian to continue providing aid to those affected by the typhoon,” Palace Press Officer Claire Castro said in Filipino in a statement last Monday.
Marcos also instructed the Department of Health to deploy its teams in evacuation centers to address the medical needs of those affected by the super typhoon.
As of 6 a.m. on Monday, the National Disaster Risk Reduction and Management Council (NDRRMC) reported that Uwan has affected 836,572 people nationwide, including four, who were reportedly to have died. Of those affected, 482,614 were displaced, while 6,069 were staying in evacuation centers.
DSWD reported it has already extended P6.4 million worth of aid, which includes family food packs and non-food items in the typhoon-hit areas.
The President also tasked the Department of Public Works and Highways (DPWH) to start the rehabilitation efforts in the said areas.
“Based on government data, there are 71 roads, which are still not passable because of the effect of the typhoon, which includes Central Luzon and the Cordillera Administrative Region, particularly in the Mountain Province, Benguet, and Apayao,” Castro said. NDRRMC reported that Uwan also affected 29 bridges, an airport, and 180 seaports. Castro said the President wants all concerned government agencies to remain alert on the changes in the weather until tomorrow. Based on the latest projection of the the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), Super Typhoon Uwan is expected to leave the Philippine Area of Responsibility by Tuesday. In its 11 a.m. bulletin last Monday, PAGASA said Super Typhoon Uwan weakened into a Typhoon with maximum sustained winds of 130 kilometer per hour (km/h) near the center and gustiness of up to 160 km/h. Tuesday, November 11,
Power outages affect 4.7‑M households as ‘Uwan’ disrupts electric supply nationwide
TBy Lenie Lectura @llectura
HE number of households without electricity has increased to 4.7 million as of Monday morning, the National Electrification Administration (NEA) said.
Latest data from the NEA Disaster Risk Reduction and Management Department (DRRMD) showed that 26 electric cooperatives (ECs) in six regions are experiencing blackouts at present, bringing the total of affected member-consumer-owners to 4,781,180. The areas mostly hit by Typhoon “Uwan” are Ilocos, Cagayan Valley, Central Luzon, Cordillera Administrative Region, Bicol, and Eastern Visayas.
“The NEA-DRRMD is monitoring power situation in 82 ECs across 51 provinces in 12 regions nationwide. Damage assessments continue and power restoration
activities are underway as the typhoon weakens,” the agency said.
NEA oversees 121 ECs in the country.
NEA Administrator Antonio Mariano Almeda said his office remains on full alert throughout the onslaught of Uwan to determine appropriate courses of action, finalize the augmentation of resources and manpower for posttyphoon activities, and support the recovery of all affected ECs.
The National Grid Corporation of the Philippines (NGCP), meanwhile, has restored nine 69 kilovolts (kV) transmission lines as of Monday morning. There are 26 69kV lines in Luzon, one 69kV line in Visayas, eight 230kV line, and 115kV lines that are still unavailable as of press time.
NGCP has mobilized its line crews and is currently conducting patrols. Simultaneous restoration activities are also being conducted in areas already accessible.
The Manila Electric Company (Meralco), meanwhile, reported a drop in customers affected by power outages. As of Monday morning, customers affected by power outages have dropped to 197,000 from over 400,000 reported at midnight. Of those still affected, approximately 10,000 are in areas experiencing flooding. The majority of the remaining outages are concentrated in Cavite, Bulacan, Quezon, and Metro Manila with additional affected customers in Rizal, Laguna, and Batangas.
“We continue to actively monitor the weather situation in light of persisting strong winds and rains brought about by the super typhoon. We ask our customers for patience and understanding as we have to prioritize safety during the conduct of power restoration activities,” Meralco Vice President and Head of Corporate Communications Joe Zaldarriaga said.
Red Cross remains vigilant as it continues operations for ‘Uwan’
THE Philippine Red Cross (PRC) remains on the ground, bringing life-saving assistance to families affected by Typhoon Uwan. Teams are providing emergency medical care, hot meals, and humanitarian support across the country.
The following information contains the summary of assistance by the PRC as of 10 November 2025, 12 P.M.
PRC’s Safety Services has set up 13 first aid stations in affected provinces, took the vital signs of 384 individuals, treated 7 minor cases (abrasions, dizziness), 2 major cases (lacerations), transported 3 patients to hospitals, and deployed 7 ambulances for medical transport and rescue operations.
Emergency Response Units have assisted 237 individuals in Batangas and Masbate, taking them from at-risk areas to nearby evacuation centers.
Meanwhile, the Disaster Management Services have provided 65 shelter strengthening kits to Isabela and Quirino. They have also supported evacuations and preparedness efforts in Olongapo, Aurora, Masbate, Abra, Cagayan, and Kalinga.
At centers, the Welfare Services have established 12 welfare desks and provided psychological first
aid for 439 individuals and child friendly space to 218 individuals. Moreover, 12 food trucks have been mobilized so far and 8,753 hot meals have been served for the consumption of the affected families.
As for PRC’s Health Services, three doctors and 25 nurses have provided 197 medical consultations along with basic medicines. Health teams also conducted disease prevention sessions, reaching 781 individuals across multiple provinces. To prevent leptospirosis, 106 individuals in Tarlac, Catanduanes, Camarines Sur, and Valenzuela received doxycycline prophylaxis.
Meanwhile, PRC’s Water, Sanitation, and Hygiene (WASH) unit have provided 248 bottles of water for Ilocos Sur and conducted hygiene promotion activities reaching individuals from Apayao and Negros Occidental.
During this time, 834 volunteers have been mobilized to support ongoing operations.
Communication lines through different PRC Chapters remain open through 18 radios operating without Wi-Fi or data, supported by satellite phones and Starlink units to ensure coordination even in remote areas. Throughout the operations, PRC teams are continuing to monitor potential river overflows and shel-
ter damages, especially in coastal communities.
PRC Chairman and CEO Senator Richard J. Gordon expressed gratitude that the country was spared worse destruction. “God has been merciful. The damage was not as great as we had initially feared, but we must remain vigilant as rains and winds still pose risks in many areas,” he said.
In addition, Chairman Gordon also praised PRC’s staff and volunteers for their tireless dedication. “I would like to commend the PRC staff and volunteers for their dedicated service. People often think that our work is limited to handing out relief boxes, but we have been working non-stop preparing hot meals and holding meetings 24/7. Thanks to everyone’s sacrifices here, the PRC can truly be always first, always ready, and always there.”
The Philippine Red Cross remains committed to its mission of protecting and upholding the dignities of affected communities.
If you are interested in making a donation to support the victims of Typhoon Tino (Kalmaegi) and Typhoon Uwan (Fung-Wong), head over to our website to see how: https://redcross.org.ph/ways-todonate/
For any emergencies, call the PRC Hotline #143.
DOLE assumes jurisdiction in
NO strike will push through at the University of Asia and the Pacific (UA&P) after the Department of Labor and Employment (DOLE) assumed jurisdiction over the labor dispute between the university and two of its unions.
According to a DOLE order obtained by the BusinessMirror, Secretary Bienvenido E. Laguesma said the move was necessary to prevent the disruption of classes and other academic operations while collective bargaining negotiations remain unresolved.
“The strike would inevitably undermine this important role of the University. It would hinder the University’s ability to deliver its academic programs and fulfill institutional commitments, and delay students in completing their academic requirements. Moreover, any disruption in the University’s operations would significantly affect its 325 employees and their families, whose livelihoods rely on the continuous and stable functioning of the institution,” Laguesma said.
The UA&P Union of Faculty Members (UA&PUFM) and the UA&P Union of Allied Employees (UA&PUAE)—representing rank-and-file academic and non-teaching personnel—had earlier moved closer to a strike after months of stalled collective bargaining talks See: https:// businessmirror.com.ph/2025/10/27/ uap-unions-move-closer-to-strike/. Negotiations reached a deadlock in June, and by October 24, both unions had already filed their strike-vote reports before the National Conciliation and Mediation Board (NCMB).
Union leaders said management failed to present a new counteroffer during mediation, prompting them to push forward with a strike over unresolved issues on salary and promotion structures, and benefits.
Under the Assumption of Jurisdiction (AJ) order, both unions are required to maintain the status quo and suspend all strike-related activities, while the university administration is prohibited from declaring a lockout.
DOLE’s Legal Service and the NCMB were also directed to hold an initial conference on November 13 to facilitate conciliation.
Union leaders said they will comply with DOLE’s directive but vowed to continue asserting their demands through the legal process.
“Now, our fight moves from the streets to the Office of the DOLE Secretary. We are confident that the DOLE Secretary will see the reasonableness of our demands,” they added.
Justine Xyrah Garcia
PA relief efforts on full speed for ‘Uwan’
By Rex Anthony Naval
THE Philippine Army (PA) on Monday
said that its efforts will be on full throttle as its units are now conducting coordinated rescue efforts in high-risk areas after Super Typhoon “Uwan” pummeled a large part of the country last Nov. 9. “With ‘Uwan’ packing maximum sustained winds of 185 km/h and gusts
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in their total electricity bill.
It attributed the power rate increase to higher transmission charge amounting to P0.1468 per kWh for residential customers. This was brought about by higher ancillary service charges from the Reserve Market incurred by the National Grid Corporation of the Philippines (NGCP).
Also contributing to the increase was the P0.0884 per kWh increase in Feed-in Tariff Allowance (FIT-All) following the Energy Regulatory Commission’s (ERC) directive to collecting agents nationwide to implement a new FIT-All of P0.2073 per kWh beginning this November, from a previous rate of P0.1189 per kWh.
Tempering the increase in the November rates was the generation charge, which went
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by Bicol with 222 passengers and 49 ships. Panay and Guimaras had 207 stranded passengers, while Misamis Occidental and Ozamiz reported 196.
Other affected areas included National Capital Region (NCR) North with 116 stranded passengers, Marquez with 65 passengers and six vessels, Misamis Oriental/Cagayan de Oro with 35 passengers, and Agusan with 29.
reaching 230 km/h, the Army rescuers are on full force to brave the howling winds and torrential rains to save residents from life-threatening flooding and storm surges,” PA spokesperson Col. Louie Dema-ala said in a statement.
He added PA efforts are focused on immediate aid in northern, southern and central Luzon, building on the suspension of ongoing military drills to redirect resources toward saving lives amid widespread power
down by P0.1008 per kWh to P7.9000 from P8.0008 per kWh last month due to lower charges from Power Supply Agreements (PSAs) and Wholesale Electricity Spot Market (WESM).
PSA rate decreased by P0.2985 mainly due to reduction in fuel costs, which more than offset the impact of depreciation of the peso against the US dollar. WESM rate also went down by P0.6273 per kWh, despite tighter supply conditions in October, due to downward adjustments to the WESM bill.
Mean while, charges from IPPs rose by P0.2481 per kWh due to the Peso’s depreciation, which affected around 99 percent of the IPP costs that were dollar denominated.
PSAs, IPPs, and WESM accounted for 77 percent, 20 percent, and 3 percent respectively of Meralco’s total energy requirement for the period.
The Coast Guard suspended all maritime operations in several regions, including complete shutdowns in NCR North, NCR South’s Pasig Terminal, Batangas, Bicol, Masbate, Surigao, and Western Leyte Biliran. In the Visayas, operations were halted in key routes including Balingoan-Camiguin, Tagbilaran-Cebu, and various ports in Panay including Caticlan and Libertad.
Several 2Go Travel vessels, including MV St. Francis Xavier on the Ozamiz-Manila route and MV Masikap on the Davao-General Santos route, were also affected.
outages and heavy rainfall.
With this ongoing, Dema-ala said PA chief Lt. Gen. Antonio Nafarrete and the General Staff have convened to monitor, assess and orchestrate this humanitarian assistance and disaster response (HADR) teams.
The 7th Infantry has deployed 232 military personnel and 14 military trucks across Central Luzon particularly in Aurora where Uwan has made its landfall on the
Other charges—which include system loss, subsidies, taxes, and universal charges (UC)—registered a net increase of P0.0176 per kWh. This included the P0.0025 increase in the UC, in accordance with an ERC advisory lifting the suspension of the collection of the UC-Environmental Charge.
Pass-through charges for generation and transmission are paid by Meralco to the power suppliers and the grid operator, respectively; while taxes, universal charges, and FIT-All are all remitted to the government.
Meralco’s distribution charge, on the other hand, has not moved since the P0.0360 per kWh reduction for a typical residential customer beginning August 2022.
Meanwhile, oil companies announced a P0.50 per liter increase in gasoline products and a P1 per liter increase in diesel this week. Kerosene prices, meanwhile, remain unchanged.
T his is the sixth consecutive week of
Zamboanga City authorities suspended all trips to Tawi-Tawi and temporarily halted operations for all vessels 3.0 gross tons and below within Coast Guard Station Zamboanga’s jurisdiction.
The maritime suspensions affected routes spanning from Bataan in Luzon to Mindanao, with the Coast Guard prohibiting “all vessels and watercraft regardless of type or tonnage” in several high-risk areas, particularly those within the coverage of Coast Guard Southern Quezon extending to Masbate, Marinduque, and Romblon.
evening of November 9.
Moreover, a total of 1,005 officers, enlisted personnel, Cafgu Active Auxiliary (CAA) members and reservists are on standby in Tarlac, Bulacan, Pampanga, Aurora, Nueva Ecija, Zambales and Bataan.
For its part, the 525th Combat Engineer Battalion deployed 20 highly trained rescuers to Echague, Isabela.
The team is equipped with specialized equipment and rubber boats—ready to
increase for gasoline and the third for diesel. Oil companies adjust pump prices every week to reflect movements in the world oil market.
P etron, Shell, Caltex, Unioil, Total, Jetti, and Seaoil said they will adjust their pump prices at 6:00 a.m. of November 11.
Cleanfuel, meanwhile, will implement the new fuel prices at 4:01 p.m.
“A combination of Ukraine’s drone attack to Russia’s Black Support, its major export hub, and sanctions contributed to the increases. On the other hand, expectation of Opec + [Organization of Oil Producing Countries+] production ramp up is making the oil market bearish,” the Department of Energy said.
Jetti, meanwhile, said there was a significant increase in the premium for gasoline due to firm regional demand and tight supply as regional refineries undergo turnarounds.
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determination to build a modern, resilient, and profitable agriculture industry, securing a more abundant and dignified future for Filipino farmers.”
The ceremony was led by Morales, PHilMech Director III Joel V. Dator, and DA Regional Field Office II Executive Director Rose Mary Aquino, together with local officials and partner agencies.
conduct rescue, evacuation, and clearing operations at a moment’s notice.
In addition, two teams from the battalion are deployed for possible rescue operations at FTI, Taguig City.
The 5th Infantry Division has deployed a total of 492 officers, enlisted personnel, CAA members and reservists in the highrisk areas in Cagayan Valley, Cordillera Administrative Region and Ilocos Region. Another 184 teams composed of 2,209
Flood. . .
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With Sen. Camille Villar now assuming the chairmanship of the same committee, Santos called on the new leadership to correct the failures of the past and demonstrate independence and transparency.
officers, enlisted personnel, CAA members and reservists are on standby. In the Bicol Region, the 9th Infantry Division has deployed more than 800 soldiers, 115 CAA members and 252 reservists to conduct immediate rescue, relief and clearing efforts.
The division has also mobilized 73 military vehicles and communication equipment to aid in the HADR operations in typhoon-affected areas.
Earlier, House Minority Leader Marcelino Libanan also urged the President to certify as urgent the passage of a National LandUse Law, following the torrential rains and massive flooding unleashed by Typhoon Tino that killed many people and displaced hundreds of thousands across Central Visayas, particularly in Metro Cebu. Libanan explained that the proposed National Land-Use Law will serve as the nation’s master framework for the allocation, utilization, management, and development of lands and natural resources.
Travel. . .
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they will take to return to their provinces are safe],” Lopez said as quoted in a news release.
Meanwhile, the Parañaque Integrated Terminal Exchange (PITX) and the Batangas City Grand Terminal also announced the resumption of several previously suspended bus trips.
At the same time, the Caap announced the lifting of its “Notice to Airmen [Notam]” and resumption of normal operations in
DOTr. . .
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by to conduct the assessment once weather conditions and safety protocols allow them to access the damaged structure.
The suspension affects approximately 400 daily passengers who rely on the Naga-Legazpi route.
the Bicol International Airport, Masbate Airport, Naga Airport, Virac Airport, Daet Airport, and Cauayan Airport.
“In addition, Baguio Airport has reopened for operations; however, Visual Flight Rules (VFR) remain suspended due to heavy rains causing poor visibility,” it said. However, operations remain suspended at Bulan Airport, Bacon Airport, Sangley Airport, Plaridel Airport, Iba Airport, and Subic Airport.
“Caap continues to monitor the situation and coordinate with concerned airports for updates on resumption of operations,” it said. PNA
To address the disruption, Lopez said he will direct the Land Transportation Franchising and Regulatory Board (LTFRB) to deploy additional public utility vehicles in the area to accommodate stranded commuters.
The PNR will also inspect the entire Bicol commuter train route to determine whether other structures sustained damage during the typhoon. Lorenz S. Marasigan
Editor: Angel R. Calso
Ukraine strikes disrupt power in Russian cities; Moscow accused of endangering nuclear safety
KYIV, Ukraine—Ukrainian strikes disrupted power and heating to two major Russian cities near the Ukrainian border, local Russian officials reported Sunday.
The report comes as Russia and Ukraine have traded almost daily assaults on each other’s energy infrastructure and US-led diplomatic efforts to stop the nearly four-year war have not advanced.
Elsewhere, Ukraine’s top diplomat accused Moscow of deliberately endangering nuclear safety, as he said Russia’s mass drone and missile attack on Friday struck substations that power two nuclear power plants.
And in Russia, the Kremlin spokesman said Moscow intended to honor its obligations under a global nuclear test ban, despite a recent order by President Vladimir Putin to study the possibility of resuming atomic tests.
Power knocked out in two Russian cities
A DRONE strike temporarily caused blackouts and cut heating to parts of Voronezh, regional Gov. Alexander Gusev said. He said several drones were electronically jammed during the night over the city, home to just
over 1 million people, sparking a fire at a local utility facility that was quickly extinguished.
Russian and Ukrainian news channels on Telegram claimed the strike targeted a local thermal power plant.
A missile strike late on Saturday also caused “serious damage” to power and heating systems supplying the city of Belgorod, with some 20,000 households affected, local Gov. Vyacheslav Gladkov reported the following morning.
Russia’s defense ministry said Sunday that its forces destroyed or intercepted 44 Ukrainian drones during the night that flew over the Bryansk and Rostov regions in southwestern Russia. The statement made no mention of either the Voronezh or Belgorod provinces, nor did it specify how many drones Ukraine launched.
Local authorities in the Rostov region on Sunday reported on hourslong blackouts in the city of Taganrog, home to some 240,000 people, blaming them on an emergency shutdown of a power line.
FORMER Indonesian President Suharto waves to journalists as he leaves a hospital after being treated for intestinal bleeding, in Jakarta, Indonesia, on May 5, 2004. AP/DITA ALANGKARA
By Niniek Karmini & Achmad Ibrahim
The Associated Press
JAKARTA, Indonesia—Indone -
sia declared the former dictator Suharto a national hero on Monday, provoking outrage from rights group who said the move was an attempt to whitewash decades of human rights abuses and corruption that took place during his 32 years in power. Suharto was a US ally during the Cold War who presided over decades of authoritarian rule, Indonesia declares Suharto national hero, igniting outrage over human rights abuses
See “Suharto,” A9
They did not specify the cause, though local media claimed a nearby transformer substation caught fire.
Months of Ukrainian longrange drone strikes on Russian refineries have aimed to deprive Moscow of the oil export revenue it needs to pursue the war. Meanwhile, Kyiv and its western allies say Russia is trying to cripple the Ukrainian power grid and deny civilians access to heat, light and running water for a fourth consecutive winter, in what Ukrainian officials call “weaponizing” the biting cold.
Strikes endanger power supply to nuclear plants
RUSSIA’S mass drone and missile strikes Friday hit power substations that supply two of Ukraine’s nuclear power plants, according to Ukrainian Foreign Minister Andrii Sybiha.
“Russia once again targeted substations that power the Khmelnytskyi and Rivne nuclear power plants,” Sybiha said in a statement on X late Saturday. “These were not accidental but well-planned strikes. Russia is deliberately endangering nuclear safety in Europe.”
Sybiha called for an urgent meeting of the International Atomic Energy Agency board of governors to respond to the risks posed by the attacks.
Moscow’s massive attacks on
Ukraine’s electricity infrastructure last winter have heightened scrutiny over the Ukrainian Energy Ministry’s apparent failure to protect the country’s most critical energy facilities near nuclear power sites, according to several current and former officials who spoke to the AP.
Meanwhile, Russian Foreign Minister Sergey Lavrov said Saturday that work has begun on President Vladimir Putin’s order to prepare plans for a possible Russian nuclear test, according to state news agency Tass.
Putin’s order on Wednesday followed statements by Trump,
which appeared to suggest that Washington would restart its own atomic tests for the first time in three decades.
Kremlin says Russia will abide by nuclear ban RUSSIA will abide by its obligations under a global nuclear ban, the Kremlin spokesman said Sunday, following days of uncertainty over remarks by US President Donald Trump that appeared to suggest Washington might restart atomic tests after more than three decades.
Trump’s comments came after Russia announced it had tested a
new atomic-powered and nuclearcapable underwater drone and a new nuclear-powered cruise missile. But Moscow did not announce any tests of its nuclear weapons, which last occurred in 1990.
“Putin has repeatedly said that Russia is committed to its obligation to end nuclear tests, and that we have no intention” of conducting them, Kremlin spokesman Dmitry Peskov told reporters.
Earlier this week, Putin ordered officials to study the possibility of resuming nuclear testing, though Russia said it would not do so unless the US did so first.
Russia’s Lavrov says he’s ready to meet Rubio Elsewhere, Russia’s top diplomat said Sunday that he was ready to meet US Secretary of State, Marco Rubio, to discuss the war in Ukraine and mending bilateral ties.
“Secretary of State Marco Rubio and I understand the need for regular communication,” Foreign Minister Sergey Lavrov told Russia’s Ria state agency, weeks after efforts to organize a summit between the Russian and US leaders were put on ice.
Lavrov on Sunday repeated that peace can’t be achieved without “taking Russian interests into account,” a phrase Moscow has used to signal it is standing firm in its maximalist demands for Ukraine. AP
South Korea’s ousted leader Yoon Suk Yeol indicted for flying drones over North Korea
By Hyung-Jin Kim The Associated Press
SEOUL, South Korea—South Korea’s ousted conservative President Yoon Suk Yeol faces more criminal charges on Monday as prosecutors allege that he flew drones over North Korea in a deliberate bid to stoke tensions and justify his plans to declare martial law.
Yoon set off the most serious political crisis in South Korea’s recent history when he imposed martial law on Dec. 3, 2024 and sent troops to surround the National Assembly. He was later impeached and removed from office, and is in jail standing trial on charges including masterminding a rebellion.
His successor and liberal rival, President Lee Jae
Myung, approved legislation that launched independent investigations into Yoon’s martial law stunt and other criminal allegations involving his wife and administration.
On Monday, Yoon and two of his top defense officials were charged with benefitting the enemy and committing abuse of power over their alleged drone flights, which happened about two months be -
fore the declaration of martial law, according to a special investigation team.
North Korea accused Seoul of flying drones over Pyongyang, the North’s capital, to drop propaganda leaflets three times in October 2024. Yoon’s defense minister, Kim Yong Hyun, initially made a vague denial, but South Korea’s military later switched to saying it couldn’t confirm whether or not the North’s claim was true. Any public confirmation of South Korean reconnaissance activities inside North Korea is highly unusual. Tensions rose sharply at the time, with North Korea threatening to respond with force, but neither side took any major action and tensions gradually subsided.
See “Yoon Suk Yeol,” A9
SOUTH KOREA’S impeached President Yoon Suk Yeol attends a hearing of his impeachment trial at the Constitutional Court in Seoul, South Korea, on Feb. 11, 2025. AP/LEE JIN-MAN
Climate talks start with call for faster action and more togetherness, but without the US
By Seth Borenstein & Melina Walling The Associated Press
BELEM, Brazil—UN climate negotiations were expected to begin Monday at a meeting on the edge of the Brazilian Amazon, with leaders pushing for urgency, cooperation and acceleration after more than 30 years fighting to curb global warming by drastically reducing the carbon pollution that causes it.
André Corrêa do Lago, president of this year’s conference, known as COP30, emphasized that negotiators engage in “mutirão,” a Brazilian word derived from an Indigenous word that refers to a group uniting to work on a shared task.
“Either we decide to change by choice, together, or we will be imposed change by tragedy,” do Lago wrote in his letter to negotiators Sunday. “We can change. But we must do it together.” Complicating the calls for to -
Top BBC bosses resign after criticism of broadcaster’s editing of Trump speech
LONDON—The head of the BBC and the British broadcaster’s top news executive both resigned Sunday after criticism of the way the organization edited a speech by US President Donald Trump.
The BBC said Director-General Tim Davie and news CEO Deborah Turness had both decided to leave the corporation.
Britain’s publicly funded national broadcaster has been criticized for editing a speech Trump made on Jan. 6, 2021, before protesters attacked the Capitol in Washington.
Critics said the way the speech was edited for a BBC documentary last year was misleading and cut out a section where Trump said he wanted supporters to demonstrate peacefully.
A clip of the BBC “Panorama” episode shared by The Daily Telegraph appears to show different parts of Trump’s speech edited into one quote. In the episode, Trump is shown saying: “We’re going to walk down to the Capitol and I’ll be there with you. And we fight. We fight like hell.”
According to video and a transcript from Trump’s comments
that day, he said: “We’re going to walk down to the Capitol, and we’re going to cheer on our brave senators and congressmen and women, and we’re probably not going to be cheering so much for some of them.
“Because you’ll never take back our country with weakness. You have to show strength and you have to be strong. We have come to demand that Congress do the right thing and only count the electors who have been lawfully slated, lawfully slated.
“I know that everyone here will soon be marching over to the Capitol building to peacefully and patriotically make your voices heard.”
Nearly an hour later, Trump used the phrase “we fight like hell” toward the end of his speech, but without referencing the Capitol.
“We fight like hell. And if you don’t fight like hell, you’re not going to have a country anymore,” Trump said then.
In a letter to staff, Davie said quitting the job after five years “is entirely my decision.”
See “BBC,” A9
getherness is the United States. The Trump administration did not send high-level negotiators to the talks and is withdrawing for the second time from the 10-year-old Paris Agreement, which is being celebrated as a partial achievement here in Belem.
The United States has put more heat-trapping carbon dioxide into the air from the burning of coal, oil and natural gas than any other country. China is the No. 1 carbon polluter now, but because carbon dioxide stays in the air for at least a century, more of it was made in the US.
“I think the environment we are in, the geopolitical landscape, is particularly challenging,” said Palau Ambassador Ilana Seid, who chairs the Alliance of Small Island States. Small island nations suffer some of the worst effects of climate change because rising seas swallow land. “The United States withdrawing from the Paris Agreement has really shifted the gravity’’ of the whole negotiating system.
President Donald Trump’s actions damage the fight against climate change, former US Special Envoy for Climate Todd Stern said. “It’s a good thing that they are not sending anyone. It wasn’t going to be constructive if they did,” he said.
The Nature Conservancy chief scientist Katharine Hayhoe compared the negotiations to a potluck dinner.
“Everybody brings the contributions that they are making,” which in this instance are new and strengthened plans to cut carbon
pollution, Hayhoe said. “And it’s obvious who took the time to bake the fresh pie with fruit that they picked and who fished out that year old chicken frozen chicken nuggets from the back of their freezer.”
“The United States as a country will not be showing up with a dish,” Hayhoe said. However, she and several others including former lead American negotiators are pointing to US cities, states and businesses that they said will take up the slack.
In a letter to negotiators released late Sunday, Simon Stiell, the UN climate chief, said the 10-year-old Paris Agreement is working to a degree, “but we must accelerate in the Amazon. Devastating climate damages are happening already, from Hurricane Melissa hitting the Caribbean, Super Typhoons smashing Vietnam and the Philippines, to a tornado ripping through Southern Brazil.” Not only must nations do more and faster but they “must connect climate action to people’s real lives,” Stiell wrote.
China creates new visa, competing with US in wooing global tech talent
By Chan Ho-Him Ap Business Writer
ONG KONG—Vaishna -
Hvi Srinivasagopalan, a skilled Indian IT professional who has worked in both India and the US, has been looking for work in China. Beijing’s new K-visa program targeting science and technology workers could turn that dream into a reality.
The K-visa rolled out by Beijing last month is part of China’s widening effort to catch up with the US in the race for global talent and cutting-edge technology. It coincides with uncertainties over the US’s H-1B program under tightened immigrations policies implemented by President Donald Trump.
“(The) K-visa for China (is) an equivalent to the H-1B for the US,” said Srinivasagopalan, who is intrigued by China’s working environment and culture after her father worked at a Chinese university a few years back. “It is a good option for people like me to work abroad.”
The K-visa supplements China’s existing visa schemes including the R-visa for foreign profession -
als, but with loosened requirements, such as not requiring an applicant to have a job offer before applying.
Stricter US policies toward foreign students and scholars under Trump, including the raising of fees for the H-1B visa for foreign skilled workers to $100,000 for new applicants, are leading some non-American professionals and students to consider going elsewhere.
“Students studying in the US
hoped for an (H-1B) visa, but currently this is an issue,” said Bikash Kali Das, an Indian masters student of international relations at Sichuan University in China.
China wants more foreign tech professionals CHINA is striking while the iron is hot.
The ruling Communist Party has made global leadership in advanced technologies a top priority, paying massive government subsidies to support research and development of areas such as artificial intelligence, semiconductors and robotics.
“Beijing perceives the tightening of immigration policies in the US as an opportunity to position itself globally as welcoming foreign talent and investment more broadly,” said Barbara Kelemen, associate director and head of Asia at security intelligence firm Dragonfly.
Unemployment among Chinese graduates remains high, and competition is intense for jobs in scientific and technical fields. But there is a skills gap China’s leadership is eager to fill. For decades, China has been losing top talent to developed countries as many stayed and worked in the US and Europe after they finished studies there.
The brain drain has not fully reversed. Many Chinese parents still see
Western education as advanced and are eager to send their children abroad, said Alfred Wu, an associate professor at the National University of Singapore.
Still, in recent years, a growing number of professionals including AI experts, scientists and engineers have moved to China from the US, including Chinese-Americans. Fei Su, a chip architect at Intel, and Ming Zhou, a leading engineer at US-based software firm Altair, were among those who have taken teaching jobs in China this year.
Many skilled workers in India and Southeast Asia have already expressed interest about the Kvisa, said Edward Hu, a Shanghaibased immigration director at the consultancy Newland Chase.
Questions about extra competition from foreign workers WITH the jobless rate for Chinese aged 16-24 excluding students at nearly 18%, the campaign to attract more foreign professionals is raising questions.
“The current job market is already under fierce competition,” said Zhou Xinying, a 24-year-old postgraduate student in behavioral science at eastern China’s Zhejiang University.
While foreign professionals could help “bring about new technologies” and different international perspectives, Zhou said, “some Chinese young job seekers may feel pressure due to the introduction of the K-visa policy.” Kyle Huang, a 26-year-old software engineer based in the southern city of Guangzhou, said his peers in the science and technology fields fear the new visa scheme “might threaten local job opportunities”.
A recent commentary published by a state-backed news outlet, the Shanghai Observer, downplayed such concerns, saying that bringing in such foreign professionals will benefit the economy. As China advances in
PEOPLE pose for photos outside the venue for the COP30 UN Climate Summit, Saturday, Nov. 8, 2025, in Belem, Brazil. AP/FERNANDO LLANO
FOREIGNERS look at a display board for flights at Baiyun airport in Guangzhou in southern China’s Guangdong province on Nov.
during which up to a million political opponents were killed, until he was toppled by protests in 1998.
He was one of 10 people recognized by President Prabowo Subianto in a televised ceremony held at the presidential palace in Jakarta to mark National Hero Day.
Minister of Culture Fadli Zon said that Suharto played a key role during the struggle for independence against its Dutch colonial rulers, and later served as commander of a military operation that helped take control of what is now West Papua from the Dutch. Zon also credited the former dictator with alleviating poverty and taming inflation, as well as defeating a Communist uprising. He ruled out allegations of corruption and serious human rights abuses as unproven.
Prabowo, the current President, had close ties to Suharto, under whom he rose through the ranks of an Indonesian special forces unit accused of extensive human rights abuses. He and other members of the unit were banned from traveling to the US until 2020, when it was effectively lifted while he was serving Indonesia’s defense minister.
He was married to Suharto’s daughter Siti Hediati Hariyadi from 1983 to 1998. Prabowo did not make any statement after the ceremony.
Former President Abdurrahman Wahid, who revoked many of Suharto’s repressive laws and Marsinah, a prominent labor activist who was killed during the dictatorship, were also among 10 figures recognized as heroes on Monday.
Marsinah was found murdered in 1993 at the age of 24 after a disappearance following a scuffle with military personnel.
Suharto ruled Indonesia with an iron fist
Suharto held power with an authoritarian approach that saw soldiers stationed in every village until he was chased from office by widespread unrest at the peak of the 1997-1998 Asian financial crisis.
He was accused of responsibility for the killings of hundreds of thousands of political opponents during his time in office, but poor health—and, critics charged, continuing corruption—kept him
“Overall, the BBC is delivering well, but there have been some mistakes made and as director-general I have to take ultimate responsibility,” Davie said.
He said he was “working through exact timings with the Board to allow for an orderly transition to a successor over the coming months.”
Turness said the controversy about the Trump documentary “has reached a stage where it is causing damage to the BBC—an institution that I love. As the CEO of BBC News and Current Affairs, the buck stops with me.” “In public life leaders need to be fully accountable, and that is why am stepping down,” she said in a note to staff. “While mistakes have been made, I want to be absolutely clear recent allegations that BBC News is institutionally biased are wrong.”
Trump posted a link to a Daily Telegraph story about the speech-editing on his Truth Social network, thanking the newspaper “for exposing these Corrupt ‘Journalists.’ These are very dishonest people who tried to step on the scales of a Presidential Election.” He called that “a terrible thing for Democracy!”
White House press secretary Karoline Leavitt reacted on X, posting a screen grab of an article headlined “Trump goes to war with ‘fake news’ BBC” beside another about Davie’s resignation, with the words “shot” and “chaser.”
from facing trial until his death in 2008.
The bulk of killings occurred in 1965-1966 when between 300,000 and 800,000 alleged communists were rounded up and slain during his rise to power. Over the next three decades, a further 300,000 people were killed, disappeared or starved in the independenceminded regions of East Timor, Aceh and Papua, according to human rights groups and the United Nations.
Suharto’s hero status sparks national debate
SURVIVORS of state violence under Suharto voiced outrage about the honor.
“I was shocked, disappointed and angry with this government’s absurd decision,” said Bedjo Untung, who was imprisoned without trial after being accused of involvement with the Indonesian Communist Party and now chairs the 1965 Murder Victim’s Research Foundation.
Untung, who was tortured during his 1970-1979 imprisonment, said his family suffered years of discrimination and hardship due to his alleged ties to Communism.
“It feels deeply unfair, we are still living with the suffering until today,” Untung said. Suharto has been nominated for the title of national hero multiple times since 2010, but previous Indonesian leaders rejected the idea in the face of debate and national outcry.
Prasetyo Hadi, the Minister of State Secretary, said the candidates for this year’s honors were recommended by the parliament after an in-depth discussion with the national assessment committee for national hero and society groups.
“This is part of our respect for our predecessors, especially our leaders, who have undoubtedly rendered extraordinary service to the nation,” Hadi told reporters ahead of the announcement.
Jaleswari Pramodhawardani, a senior policy analyst at Laboratorium Indonesia 2045, said the national hero title upon Suharto challenges not only the nation’s collective memory but also its unwavering commitment to transitional justice and the mandates of the 1998 reform movement.
To bestow the title of hero upon the architect of the gross human rights abuses is “to de facto pardon state violence, permanently freezing the pursuit of justice for countless victims,” Pramodhawardani wrote.
Pressure on the broadcaster’s top executives has been growing since the right-leaning Telegraph published parts of a dossier compiled by Michael Prescott, who had been hired to advise the BBC on standards and guidelines.
As well as the Trump edit, it criticized the BBC’s coverage of transgender issues and raised concerns of anti-Israel bias in the BBC’s Arabic service.
The 103-year-old BBC faces greater scrutiny than other broadcasters—and criticism from its commercial rivals— because of its status as a national institution funded through an annual license fee of 174.50 pounds ($230) paid by all households with a television.
The BBC airs vast reams of entertainment and sports programming across multiple television and radio stations and online platforms—but it’s the BBC’s news output that is most often under scrutiny.
The broadcaster is bound by the terms of its charter to be impartial, and critics are quick to point out when they think it has failed. It’s frequently a political football, with conservatives seeing a leftist slant in its news output and some liberals accusing it of having a conservative bias.
It has also been criticized from all angles over its coverage of the Israel-Hamas war in Gaza. In February, the BBC removed a documentary about Gaza from its streaming service after it emerged that the child narrator was the son of an official in the Hamas-led government.
Senate takes first step toward ending government shutdown
By Mary Clare Jalonick & Lisa Mascaro The Associated Press
WASHINGTON—The Senate took the first step to end the government shutdown on Sunday after a group of moderate Democrats agreed to proceed without a guaranteed extension of health care subsidies, angering many in their caucus who say Americans want them to continue the fight.
In a test vote that is the first in a series of required procedural maneuvers, the Senate voted 6040 to move toward passing compromise legislation to fund the government and hold a later vote on extending Affordable Care Act tax credits that expire Jan. 1. Final passage could be several days away if Democrats object and delay the process.
The agreement does not guarantee the Affordable Care Act subsidies will be extended, as Democrats have demanded for almost six weeks. Senate Democratic leader Chuck Schumer of New York voted against moving ahead with the package, along with all but eight of his Democratic colleagues.
A group of three former governors—New Hampshire Sen. Jeanne Shaheen, New Hampshire Sen. Maggie Hassan and Independent Sen. Angus King of Maine— broke the six-week stalemate on Sunday when they agreed to vote to advance three bipartisan annual spending bills and extend the rest of government funding until late January in exchange for a midDecember vote on extending the health care tax credits. The agreement also includes a reversal of the mass firings of federal workers by the Trump administration since the shutdown began on Oct. 1 and would ensure that federal workers receive back pay.
Senate Majority Leader John Thune quickly endorsed the deal and called the immediate vote to begin the process of approving it as the shutdown continued to disrupt flights nationwide, threaten food a ssistance for millions of Americans and leave federal workers without pay.
“The time to act is now,” Thune said.
Returning to the White House
areas such as AI and cutting-edge semiconductors, there is a “gap and mismatch” between qualified jobseekers and the demand for skilled workers, it said.
“The more complex the global environment, the more China will open its arms,” it said.
“Beijing will need to emphasize how select foreign talent can create, not take, local jobs,” said Michael Feller, chief strategist at consultancy Geopolitical Strategy. “But even Washington has shown that this is politically a hard argument to make, despite decades of evidence.”
China’s disadvantages even with the new visa RECRUITMENT and immigration
on Sunday evening after attending a football game, President Donald Trump did not say whether he endorsed the deal. But he said, “It looks like we’re getting close to the shutdown ending.”
Five Democrats switch votes IN addition to Shaheen, King and Hassan, Democratic Sen. Tim Kaine of Virginia, home to tens of thousands of federal workers, also voted in favor of moving forward on the agreement. Illinois Sen. Dick Durbin, the No. 2 Democrat, Pennsylvania Sen. John Fetterman and Nevada Sens. Catherine Cortez Masto and Jacky Rosen also voted yes.
The moderates had expected a larger number of Democrats to vote with them as around 10-12 Democratic senators had been part of the negotiations. But in the end, only five Democrats switched their votes—the exact number that Republicans needed. King, Cortez Masto and Fetterman had already been voting to open the government since Oct. 1.
The vote was temporarily delayed on Sunday evening as three conservatives who often criticize spending bills, Republican Sens. Mike Lee of Utah, Rick Scott of Florida and Ron Johnson of Wisconsin, withheld their votes and huddled with Thune at the back of the chamber. They eventually voted yes after speaking to Trump, Lee said.
Another Republican, Sen John Cornyn of Texas, had to fly back from Texas to deliver the crucial 60th vote.
Schumer votes no AFTER Democrats met for over two hours to discuss the proposal, Schumer said he could not “in good faith” support it.
specialists say foreign workers face various hurdles in China. One is the language barrier. The ruling Communist Party’s Internet censorship, known as the “Great Firewall,” is another drawback.
A country of about 1.4 billion, China had only an estimated 711,000 foreign workers residing in the country as of 2023.
The US still leads in research and has the advantage of using English widely. There’s also still a relatively clearer pathway to residency for many, said David Stepat, country director for Singapore at the consultancy Dezan Shira & Associates.
Nikhil Swaminathan, an Indian H1-B visa holder working for a US non-profit organization after finishing graduate school there, is interested in China’s K-visa but skeptical. “I would’ve considered it. China’s a great place to work
Schumer, who received blowback from his party in March when he voted to keep the government open, said that Democrats have now “sounded the alarm” on health care.
“We will not give up the fight,” he said.
Independent Sen. Bernie Sanders of Vermont, who caucuses with the Democrats, said that giving up the fight was a “horrific mistake.”
Sen. Chris Murphy, D-Conn., agreed, saying that people in last week’s elections voted overwhelmingly Democratic “to urge Democrats to hold firm.”
A bipartisan agreement DEMOCRATS had voted 14 times not to reopen the government as they demanded the extension of tax credits that make coverage more affordable for health plans offered under the Affordable Care Act. Republicans said they would not negotiate on health care, but GOP leaders have been quietly working with the group of moderates as the contours of an agreement began to emerge.
The agreement includes bipartisan bills worked out by the Senate Appropriations Committee to fund parts of government—food aid, veterans’ programs and the legislative branch, among other things. All other funding would be extended until the end of January, giving lawmakers more than two months to finish additional spending bills.
The deal would reinstate federal workers who had received reduction in force, or layoff, notices and reimburse states that spent their own funds to keep federal programs running during the shutdown. It would also protect against future reductions in force through January and guarantee federal workers would be paid once the shutdown is over.
House Democrats push back HOUSE Democrats swiftly criticized the Senate.
Texas Rep. Greg Casar, the chairman of the Congressional Progressive Caucus, said a deal that doesn’t reduce health care costs is a “betrayal” of millions of Americans who are counting on Democrats to fight.
“Accepting nothing but a pinky promise from Republicans isn’t a compromise—it’s capitulation,” Casar said in a post on X. “Millions of families would pay the price.” Rep. Angie Craig of Minnesota posted that “if people believe this is a ‘deal,’ I have a bridge to sell you.”
in tech, if not for the difficult relationship between India and China,” he said.
Given a choice, many jobseekers still are likely to aim for jobs in leading global companies outside China.
“The US is probably more at risk of losing would-be H-1B applicants to other Western economies, including the UK and European Union, than to China,” said Feller at Geopolitical Strategy.
“The US may be sabotaging itself, but it’s doing so from a far more competitive position in terms of its attractiveness to talent,” Feller said. “China will need to do far more than offer convenient visa pathways to attract the best.”
AP writer Fu Ting in Washington and researchers Yu Bing and Shihuan Chen in Beijing contributed.
House Democratic leader Hakeem Jeffries blamed Republicans and said Democrats will continue to fight.
“Donald Trump and the Republican Party own the toxic mess they have created in our country and the American people know it,” Jeffries said.
Health care debate ahead IT’S unclear whether the two parties would be able to find any common ground on the health care subsidies before a promised December vote in the Senate. House Speaker Mike Johnson, R-La., has said he will not commit to bring it up in his chamber.
Some Republicans have said they are open to extending the Covid-19-era tax credits as premiums could skyrocket for millions of people, but they also want new limits on who can receive the subsidies and argue that the tax dollars for the plans should be routed through individuals.
Other Republicans, including Trump, have used the debate to renew their yearslong criticism of the law and called for it to be scrapped or overhauled.
“THE WORST HEALTHCARE FOR THE HIGHEST PRICE,” Trump said of the Affordable Care Act in a post Sunday.
Shutdown effects worsen MEANWHILE , the consequences of the shutdown have been compounding. US airlines canceled more than 2,000 flights on Sunday for the first time since the shutdown began, and there were more than 7,000 flight delays, according to FlightAware, a website that tracks air travel disruptions.
Treasury Secretary Sean Duffy said on CNN’s “State of the Union” that air travel ahead of the Thanksgiving holiday will be “reduced to a trickle” if the government doesn’t reopen. At the same time, food aid was delayed for tens of millions of people as Supplemental Nutrition Assistance Program benefits were caught up in legal battles related to the shutdown.
And in Washington, home to millions of federal workers who have gone unpaid, the Capital Area Food Bank said it is providing 8 million more meals ahead of the holidays than it had prepared to this budget year—a nearly 20% increase.
The Associated Press writers Stephen Groves and Kevin Freking contributed to this report.
GDP growth plunges as corruption scandals erode confidence
THE recent announcement from the Philippine Statistics Authority revealing a mere 4 percent growth in the economy for the third quarter of 2025 is a jarring reality check. This marks the slowest pace since the pandemic’s onset and falls short of the government’s target of 5.5 to 6.5 percent. Beyond the numbers, this slowdown is a symptom of deeper, systemic issues that the country can no longer afford to ignore— chief among these is the corrosive impact of infrastructure corruption coupled with weak institutions and faltering public trust. (Read the BusinessMirror story—“Infra fiasco’s impact: Q3 growth a mere 4%,” November 8, 2025)
The ghost flood control scandal is not merely a political embarrassment; it’s an economic burden that stifles growth and erodes confidence. Once engines of development, DPWH projects have now become tangled in investigations and delays. Public construction, a significant driver of growth, contracted sharply by 26.2 percent—the worst since 2011. This “self-inflicted” wound, as some economists rightly call it, reveals the cost of poor governance and lack of transparency.
Household spending, the backbone of the economy, also slowed, undermined by diminished consumer confidence and the direct impact of natural calamities like typhoons. When citizens hesitate to spend, fearing economic uncertainty and shaken by corruption scandals, the ripple effect slows the entire economic engine.
The government’s response, particularly from the Department of Finance, frames this slowdown as a “temporary hiccup” and a necessary adjustment toward more transparent and accountable spending. While the intent to reform and clean up government operations is commendable, the urgency cannot be overstated. The economy cannot wait for reforms to take full effect years down the road—citizens and investors need assurance now that their money is well spent and that institutions are reliable.
Experts warn that without swift and decisive action to recover lost funds and redirect investments into high-impact sectors like education, healthcare, and digital infrastructure, the country faces a grim outlook. Weak institutions, rampant corruption, and policy uncertainties foster an environment where both local and foreign investors hesitate, threatening to stall vital capital formation and dampen long-term growth prospects.
The economic slowdown is a call to action for the Marcos administration and all stakeholders. Efforts to hold corrupt actors accountable must be transparent and relentless. Institutional reforms need to be accelerated to rebuild trust and restore confidence. More importantly, this crisis underscores that economic growth is not simply about numbers—it is about governance, integrity, and the collective belief in the country’s future. In the face of these challenges, the Philippines still has an opportunity to turn the tide. Prioritizing good governance, boosting efficient public spending, and fostering a climate of investor confidence can set the country back on a path of sustainable and inclusive growth. But this will require more than words—it demands unwavering commitment and concrete actions.
The slowest growth in over a decade should not be a source of despair but a sober reminder: corruption and weak institutions are the true brakes on progress. The nation’s economic future depends on how swiftly and decisively it chooses to remove them. Our people deserve an economy built on trust, transparency, and resilience—not on scandals and lost opportunities.
Opinion
Golden lessons from a toilet
AOUTSIDE THE BOX
SECOND solid 18-karat gold toilet—yes, sound money shaped like plumbing—is heading to auction, proof that irony still carries weight. Italian conceptual artist Maurizio Cattelan, who previously duct-taped a banana to a wall that sold for US$6.2 million, made three working golden toilets in 2016.
The first, installed at New York’s Guggenheim, drew more than 100,000 visitors before being moved to England’s Blenheim Palace. In 2019, thieves ripped it out of the floor, flooding the palace and escaping with a prize worth £4.8 million. Several suspects were convicted. The toilet remains missing, likely melted—a blunt reminder that, given the choice between currency and gold, even thieves prefer metal to monetary promises.
Now Sotheby’s is set to auction another version in New York on November 18. The house calls it a “cultural phenomenon,” a “reflection on how art and value intersect.” But the real genius lies not in the art-speak— it is in the arithmetic. The opening bid matches the gold’s market value: about $10 million, roughly 100 kilograms of 18-karat bullion at around $100,000 per kilo.
That link between symbolism and substance says more about global finance than any economic forum. Gold does not rely on confidence. It does not need quarterly
earnings forecasts or a central banker’s grin. It simply exists— mined, refined, and finite. Compare that to the United States Federal Reserve, which ballooned its balance sheet by nearly US$8 trillion from 2008 to 2022, or the Bank of Japan, whose monetary base equals 130 percent of GDP. When money can be created by keystroke, scarcity becomes an endangered species—right behind trust.
The Philippines, meanwhile, lives in the same theater of paper prosperity. Our officials talk endlessly about “confidence” and “resilience,” but capital formation still feels like building sandcastles on Dolomite Beach. The Philippine Stock Exchange Index has dropped around 19 percent in the past year, lagging neighbors. Daily trading turnover barely tops P6 billion—a tenth of Thailand’s or Indonesia’s. Market capitalization sits at roughly 55 percent of GDP, compared to Indonesia’s 110 percent and Thailand’s 135 percent. These are not symptoms of vibrancy. They are the footprints of an economy that
Cattelan may have mocked greed, but his golden toilet now mocks the whole financial and economic system. In a world where central banks conjure trillions and politicians peddle optimism, that 18-karat fixture stands firm—untouchable, unmoving, unimpressed. It cannot be inflated, devalued, or digitally cloned. It pays no interest, but it never defaults.
would rather borrow and spend than build and invest.
Filipinos understand tangible value better than most. Our love of gold jewelry and real estate is practically an instinct—a learned response from decades of inflation, devaluation, and crisis. When your grandparents saw currencies vanish and your parents paid nearly 50 percent inflation in 1984, “hard assets” sound comforting. But this caution also chains savings to inactivity. Trillions of pesos sleep in low-interest deposits while small businesses beg for long-term funding. The economy runs, yes, but never at full speed.
PSE investor participation remains microscopic. Without more Filipinos in the market, capital stays locked in banks, and enterprise remains stuck in second gear.
Which brings us back to that ridiculous golden toilet. Cattelan meant to poke fun at the art world, but his sculpture now lampoons finance itself—a system that mistakes liquidity for wealth. Art, like markets, runs on faith. But gold does not ask
for belief. It simply sits there, dense and unyielding, while everything around it—currencies, stocks, and promises—sways with emotion and politics. Remember, the toilet buyers start with paying for the market value of the gold before any premium is bid for the artwork.
For the Philippines, the point is not to hoard metal. It is to rediscover the kind of capital that actually produces—the kind built on transparency, productivity, and participation. A healthy stock market is not a casino; it is a mirror of ambition. When the mirror reflects lack of interest, do not blame the glass.
Cattelan may have mocked greed, but his golden toilet now mocks the whole financial and economic system. In a world where central banks conjure trillions and politicians peddle optimism, that 18-karat fixture stands firm—untouchable, unmoving, unimpressed. It cannot be inflated, devalued, or digitally cloned. It pays no interest, but it never defaults.
That is the punchline of our age. The world keeps manufacturing confidence and printing faith while mistaking it for fortune. Gold just keeps existing. The Philippines could use a little of that attitude—not in bullion, but in belief that value, once earned, must rest on something solid with a dose of that permanence. Until then, we will keep admiring the shine and chasing the glitter and calling it gold, mistaking reflection for wealth.
E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
Chinese steel mills pivot to Saudi as trade curbs rise elsewhere
By Katharine Gemmell & Andy Lin
CHINESE steelmakers are still flooding the world with record exports, as a rising tide of protectionism is offset by resilient demand in Southeast Asia and growth in new markets in the Middle East.
Saudi Arabia has emerged as the hot destination for 2025. Shipments of the metal to the kingdom are up 41 percent in the first nine months from a year earlier, the biggest jump to any major market, according to Bloomberg calculations based on Chinese customs data.
That’s helped Chinese steel mills defy expectations that they would struggle in 2025 due to rising tariffs and antidumping probes. Overall exports in the first 10 months of the year are at 97.76 million tons, surpassing the 92.05 million tons in the same period in 2024, and putting them on track for another all-time annual high. Vietnam and South Korea, which have imposed curbs on imports of
the metal from their giant neighbor, saw the biggest drops in volumes, although remained China’s top two markets. There was strong growth in the Philippines, Indonesia and Thailand, while the Middle East, and to a lesser extent Africa, emerged as new drivers of demand.
Chinese overseas investment, partially under its Belt and Road initiative, has laid the groundwork for much of this consumption. Beijing’s spending in Saudi Arabia and the United Arab Emirates has surged to a combined $86 billion over the last decade, and much of that money has flowed into steel-intensive sectors like energy and transport, according to Jing Zhang, a senior research
Saudi Arabia has emerged as the hot destination for 2025. Shipments of the metal to the kingdom are up 41 percent in the first nine months from a year earlier, the biggest jump to any major market, according to Bloomberg calculations based on Chinese customs data.
analyst at Wood Mackenzie Ltd.
“Chinese steel export routes are shifting toward the Middle East and Africa,” she said. “The product mix reflects this shift,” with exports of steel tubes and long products that are more commonly used in infrastructure already surpassing last year’s totals, a trend that’s likely to continue, Zhang said.
Exports of long steel products to Saudi Arabia almost doubled from a year earlier, while shipments of semi-finished steel grew more than sixfold. Whether the increased de-
mand can continue is questionable, however. The kingdom is backing away from its $500 billion plan for a futuristic city called Neom on the Red Sea, and focusing more on areas like artificial intelligence and hightech manufacturing. The country data, which lags behind the overall export figures, show a rerouting of steel exports to markets with fewer restrictions, according to Bloomberg Intelligence. Nations that had or are planning tariffs on Chinese steel accounted for about 45 percent of exports in the first nine months of this year, down from 54 percent in the same period 2024, BI said in a note. For now, China’s steel export strategy is paying off. But with global trade tensions simmering and domestic demand still weak, the sustainability of the boom in shipments may depend on how long the Middle East remains a willing buyer, and if Southeast Asia can maintain robust economic growth rates. Bloomberg
John Mangun
A changing global landscape: Why PHL must build economic resilience
By Henry Go
THE global economy is shifting. Power is no longer concentrated in one country or currency. Success today depends on adaptability, credibility, and cooperation. For the Philippines, this brings both opportunity and risk. To thrive, the country must build an independent, resilient economy, based on strong institutions, prudent fiscal management, and skilled people, rather than relying too heavily on a single foreign partner, particularly the United States.
Credibility as economic armor
Economic strength comes from trust and consistent policies, not just numbers. Heavy dependence on the US dollar and economy exposes the Philippines to external shocks. In the first half of 2025, the US Dollar Index (DXY) fell around 10 percent—its steepest six-month drop in decades—underscoring how vulnerable nations can be to shifts beyond their control. (J.P. Morgan August 2025 )
Economists Joseph Stiglitz and Nouriel Roubini note that trust in an economy comes from transparency, discipline, and strong institutions.
Credible policies earn respect in global markets, even during turbulence. Diversifying reserves, trade partners, and supply chains is essential. A resilient economy can withstand shocks, maintain investor confidence, and ensure sustainable growth without depending on one country.
Fiscal discipline as foundation
DEBT servicing remains a major challenge. In the proposed 2026 budget, nearly P978.7 billion, or 14.4 percent of spending, is allocated to debt service, with P950 billion covering interest. Interest payments rose from P429.4 billion in 2021 to P628.3 billion in 2023, limiting resources for infrastructure, education, and innovation. Much borrowing covers gaps rather than productive investments.
As former Neda Secretary Cielito Habito emphasizes, fiscal prudence ensures every peso borrowed builds future capacity. Economist Bernardo Villegas adds that disciplined spending strengthens trust among investors and citizens. Performance-based budgeting and independent oversight ensure efficiency and transparency, allowing investment without over-reliance on foreign loans.
Turning weaknesses into strength COMPETITIVENESS comes from productivity and innovation, not political favoritism. Scholar Michael Porter stresses that nations succeed by improving industries, not relying on inherited advantages or protection.
The Philippines must address longstanding weaknesses—corruption, infrastructure gaps, bureaucratic inefficiency, and dynastic politics—and turn them into opportunities. Investments should focus on high-value, job-generating sectors like advanced manufacturing, digital services, renewable energy, and agritech. These industries multiply productivity across the economy.
Stable regulations, consistent enforcement, and a culture that rewards competence attract long-term investors more effectively than short-term incentives. As Villegas notes, investors value countries with transparent, predictable rules more than low costs or tax perks.
Human capital: The true asset PEOPLE are the nation’s greatest re-
By
ASrinivasan Sivabalan & Selcuk Gokoluk
RARE turn in global infla-
tion trends is expected to inject fresh momentum into this year’s rally in emerging-market bonds.
Morgan Stanley Investment Management Inc. and Ninety One Plc are among the money managers positioning for further gains in emerging local-currency debt, on a view that central banks will have room to cut interest rates faster than in the developed world. It would add another
dimension to a stellar run for investors, who are already enjoying the
Opinion
Protecting taxpayers from premature collection
Wsource. The Philippines’ demographic advantage can only become economic strength if education and skills development are prioritized. Programs under TESDA and CHED must align with emerging sectors such as digital technology, green energy, advanced manufacturing, and healthcare.
As Habito emphasizes, inclusive growth depends on equipping citizens to adapt, compete, and innovate. Education and training are strategic investments that strengthen national resilience and ensure growth benefits all citizens.
Regional engagement and strategy
IN a multipolar world, economic diplomacy is critical. The Philippines should diversify trade partners and strengthen regional ties through Asean, while maintaining constructive relationships with both the US and China. Economic independence does not mean isolation; it means engaging multiple partners wisely and reducing vulnerability to shocks from any single economy. Credibility and economic strength give the Philippines leverage in negotiations. Building resilient domestic industries and supply chains ensures the country can navigate global uncertainties while maintaining autonomy and influence.
Building confidence through resilience
ECONOMIC resilience is built on consistency, prudence, and trust. As Dr. Emmanuel de Dios of the UP School of Economics observes, nations with credible institutions attract not only investors but also citizen confidence. Trust multiplies growth and stability.
Fiscal discipline, as emphasized by Gil Beltran and Vicente Valdepeñas Jr., is not austerity—it is strategic foresight. It allows investment in infrastructure, education, and innovation without falling into debt dependency. Transparent spending and measurable results strengthen public trust and investor confidence alike.
As Stiglitz, Roubini, and Villegas note, economic stability rests on credibility. Markets respect nations that uphold discipline and transparency even amid global turbulence. When citizens and leaders share responsibility, governance becomes a shared national enterprise.
The Philippines stands at a crossroads. Global power is no longer concentrated in one nation but distributed among many. To thrive, the country must be agile, self-reliant, and confident, securing its foundations before facing external challenges. Ultimately, a nation’s true strength lies not in size or resources, but in character—the ability to endure, adapt, and prosper with integrity. When prudence guides policies, unity inspires citizens, and vision anchors leadership, the Philippines will not merely survive global change—it will flourish because of it.
best gains in years in asset classes from stocks to dollar bonds.
What’s exciting investors is a sharp slowdown in inflation. For two straight quarters, consumer prices in emerging markets have grown more slowly than in developed nations, according to Bloomberg indexes. That flip has not been seen for at least three-and-a-half decades—save for an episode during the volatile pandemic years—and could prove a bonanza for the bond market.
“The implication is that monetary policy can be more supportive in emerging markets,” said Jitania Kandhari, deputy chief investment officer at MSIM.
Atty. Irwin C. Nidea Jr.
TAX LAW FOR BUSINESS
HEN taxpayers question a tax assessment and avail themselves of the remedies provided under the Tax Code, they do so with the expectation that the law will protect them. They hope that once an assessment is under valid protest or appeal, the Bureau of Internal Revenue (BIR) will refrain from collecting the disputed amount until the case is finally resolved. After all, the purpose of judicial and administrative remedies is to allow taxpayers a fair opportunity to contest an assessment before it becomes final, executory, and demandable.
Unfortunately, this is not always the case. There remain instances where the BIR proceeds with collection activities—even while the disputed assessment is still pending before the courts. This practice has understandably caused concern among taxpayers and practitioners alike. It undermines confidence in the fairness of the tax system and contradicts the very principle of due process that underlies tax administration. If the government aims to build a tax bureau that is both credible and just, this practice must be decisively addressed and discontinued. In a very recent and significant decision, the Supreme Court in Stradcom Corporation v. Commissioner of Internal Revenue emphasized that the BIR may initiate collection proceedings only when an account is already delinquent. The Court defined a “delinquent account” as an amount of tax due from a taxpayer who failed to pay the same within the period prescribed by law. This delinquency may arise from two circumstances: (1) a self-assessed tax, whether or not a return has been filed; or
(2) a deficiency tax assessment that has already become final and executory.
Simply put, the BIR cannot treat a disputed assessment as a delinquent account while it remains under protest or appeal. Until the assessment has attained finality, there exists no enforceable obligation for the taxpayer to pay, and therefore, no legal basis for collection.
This principle is not new. In Light Rail Transit Authority v. Commissioner of Internal Revenue, the Supreme Court held that a Warrant of Distraint and/or Levy (WDL) issued on the basis of an assessment that has not yet become final is void and without legal effect. The Court stressed that the administrative remedies for tax collection—such as distraint, levy, and garnishment— are not to be used arbitrarily or prematurely. These summary remedies may be employed only when the taxes sought to be collected have already become delinquent, whether by the taxpayer’s own admission or through a final and demandable assessment.
To clarify, taxes become de -
The taxpayer is entitled to a fair and orderly process before being compelled to part with property. When the BIR undertakes collection despite an ongoing dispute, it not only undermines judicial authority but also erodes public trust in the fairness of tax enforcement.
linquent only when a tax liability has become final, executory, and demandable, and the taxpayer fails to pay within the period prescribed by law. This occurs in the following instances: (a) when the taxpayer fails to pay the amount stated in the Final Assessment Notice (FAN) or Final Letter of Demand (FLD) and does not file a valid protest within 30 days from receipt thereof; (b) when the taxpayer fails to appeal to the Court of Tax Appeals (CTA) or to file an administrative appeal with the Commissioner of Internal Revenue (CIR) within 30 days from receipt of the denial of its protest; or (c) when the taxpayer fails to file a petition for review with the CTA within 30 days from receipt of the CIR’s denial of its administrative appeal.
Taxes also become delinquent when a self-assessed tax is not paid on time or when a deficiency assessment, having become final and executory, remains unpaid. Only in these situations may the BIR lawfully resort to the summary remedies of distraint, levy, or garnishment.
In the absence of these circumstances, an assessment cannot be considered a delinquent account.
ABy Dan Williams
S many as 200 Hamas fighters holed up in an Israeli-held area of the Gaza Strip and defying calls to surrender are casting doubts on the implementation of President Donald Trump’s peace plan.
The almost month-old ceasefire has twice been shaken by airstrikes launched by Israel in retaliation for ambushes against its troops around the southern Gaza town of Rafah, which it blamed on Hamas. The Palestinian faction initially denied that any of its gunmen remained behind a “yellow line” to which the Israeli army had redeployed as part of the deal, while Trump said “rogue elements” may have been responsible.
Changing tack, Hamas on Sunday said Israel bore “full responsibility for the confrontation with our fighters in Rafah, who are defending themselves within an area under its control.”
It urged mediator countries trying to engineer a lasting peace to “find a solution to ensure the continuation of the ceasefire and prevent the enemy from using flimsy excuses to violate it.”
The Israeli army said dozens of gunmen remain in the Rafah area, where a network of Hamas tunnels
Real rates
Investors in local bonds have reaped returns of 7 percent on average this year, surpassing US Treasuries, while gains in some markets, including Hungary, Brazil and Egypt are topping 20 percent. The rally has been fueled by expectations of hefty rate cuts, and the latest price readings could make the case for even deeper and faster easing.
Average annual inflation in emerging markets fell for a fifth successive quarter to 2.47 percent in the July–September quarter—the lowest since early 2021, the Bloomberg indexes show. In contrast, inflation in developed economies rose to 3.32 percent.
Many countries are already in
still exists, out of an estimated several hundred hiding behind the yellow line. On the other side, Hamas and smaller Palestinian factions have about 15,000 gunmen, according to army assessments.
Under the first phase of Trump’s deal, Hamas was meant to have returned the last hostages it held in Gaza within 72 hours, while Israel vowed to ramp up the level of humanitarian aid supplies. Neither condition has been fulfilled; Hamas said it would hand over one body on Sunday, that of Hadar Goldin, a soldier killed in Gaza in 2014. His remains were located in Rafah, according to Hamas. Israel said late Sunday that forensic testing confirmed Goldin’s identity. That still leaves unaccounted for the bodies of four people killed and seized by Hamas in the October 7, 2023 attack on Israel that triggered the war.
Bigger questions hang over the second phase, which requires Hamas
rate-cutting mode—Mexico and Poland are the latest to ease policy, while Thailand, South Korea, Turkey and India are among those tipped to reduce borrowing costs by year-end.
Yet most central banks have proceeded cautiously with monetary easing, holding rates well above inflation. In Brazil for instance, ratesetters kept policy steady this week for the third straight month, even though the inflation-adjusted, or “real,” rate stands around 10 percent. Similarly, Turkey’s inflation-adjusted rate is about 7 percent, while India, South Africa and Colombia all offer more than 3.5 percent. Grant Webster, co-head of emerg-
Beyond being a procedural misstep, such premature collection constitutes a violation of due process and property rights. The taxpayer is entitled to a fair and orderly process before being compelled to part with property. When the BIR undertakes collection despite an ongoing dispute, it not only undermines judicial authority but also erodes public trust in the fairness of tax enforcement.
The Supreme Court’s consistent pronouncements in Stradcom and Light Rail Transit Authority serve as a timely reminder that tax collection, while vital to government, must always be exercised within the bounds of law. Respect for due process is not an obstacle to revenue generation; rather, it strengthens the legitimacy of tax administration.
Ultimately, the government’s ability to collect taxes depends not only on its power to enforce but also on the public’s trust that such power will be exercised with fairness and restraint. When taxpayers see that the BIR respects the finality of assessments and the judicial process, voluntary compliance naturally follows. This, more than any aggressive enforcement measure, is what builds a strong and credible tax system.
The author is a senior partner of Du-Baladad and Associates Law Offices (BDB Law) (www. bdblaw.com.ph).
The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.
Therefore, any collection effort— such as the issuance of a WDL—has no valid legal basis. Proceeding with collection while an appeal remains pending effectively disregards the taxpayer’s right to contest the assessment and prematurely deprives them of their judicial remedy.
Holed-up Hamas fighters test future of Gaza peace plan
The Israeli army said dozens of gunmen remain in the Rafah area, where a network of Hamas tunnels still exists, out of an estimated several hundred hiding behind the yellow line. On the other side, Hamas and smaller Palestinian factions have about 15,000 gunmen, according to army assessments.
to disarm and cede power to an interim administration of foreignsupervised Palestinian technocrats.
Hamas has ruled that out, drawing threats from Israel to resume the Gaza offensive that’s left tens of thousands dead in the coastal enclave.
The prospect of facing off with still gun-toting Palestinians could also spook the international peacekeeping force for Gaza envisages under the day.
Steve Witkoff, Trump’s Middle East envoy, said the deal’s promise of amnesty for Hamas members who lay down their arms and commit to peaceful coexistence with Israel may now be applied in microcosm.
“We may see the model for what we’re trying to do here, or what we intend to do here, with these
ing-market sovereign and FX at Ninety One, estimates that on average, real policy rates in emerging markets are near the highest in over 20 years.
While that’s drawing yield-hunting investors, it’s also supporting currencies, Webster notes, with the Brazilian real and Hungarian forint among those notching double-digit gains year-to-date versus the dollar.
“The higher yielding markets have room to rally: South Africa and much of Latam where inflation concerns have dissipated yet policy remains elevated,” he said.
200 fighters who are trapped in Rafah, and whether they’re going to be able to raise their hands, walk out, turn over their weapons,” Witkoff told a conference in Florida last week. Witkoff and Jared Kushner, Trump’s son-in-law, are scheduled to arrive in Israel for a visit on Monday, local media reported.
The warring sides sounded unmoved, however.
Israel “must know that the concept of surrender and handing oneself over does not exist in the dictionary of the Al-Qassam Brigades,” Hamas said in its statement, referring to its armed wing. Eli Cohen, Israel’s energy minister and a member of Prime Minister Benjamin Netanyahu’s security cabinet, told Kan radio on Sunday that that the Rafah gunmen “should either be eliminated or come out wearing only underpants and carrying a white flag.”
The US plan also offers emigration to members of a demilitarized Hamas. That’s raised speculation in Israel that the gunmen could be given safe passage to the Hamas-controlled side of the Gaza Strip—perhaps in return for the expedited handover of hostage remains. With assistance from Fadwa Hodali/Bloomberg
Dollar swings OF course, the yield advantage cannot entirely shield emerging markets from dollar swings; a greenback bounce since July has inflicted modest losses on currencies as well as local debt gauges. But any dollar strength from here could be limited, with the Federal Reserve widely expected to carry on cutting rates. But even investors who expect the dollar to stay firm say higheryielding emerging-market debt has room to rally. BBVA strategist Alejandro Cuadrado is among them. He has trimmed emerging-currency exposure, but remains positive on the debt, anticipating returns from bonds’ duration as interest rates fall. With assistance from Zijia Song /Bloomberg
PHL touts PPPs at London
ANUMBER of countries are encouraging the public and private sectors to work together and fund opportunities in the tourism and travel industry.
Speaking at the 19th edition of the recent World Travel Market (WTM) London’s Ministers Summit, Tourism Secretary Christina Garcia Frasco said that public-private partnerships (PPPs) “have played a very potent role in the accelerated development of the Philippines, especially in terms of tourism. Whether this pertains to the privatization of our airports or partnerships in terms of developing tourism infrastructure, this has really been able to bring value to our destinations.”
She added that legislation such as the CREATE MORE Act “provides fi scal incentives for tourism and other related developments
that are focused on championing sustainability, green innovation, job generation, as well as equitable regional development.”
Enacted in November 2024, Republic Act No. 120661, or e Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law provides, for instance, an additional 50-percent deduction for expenses related to trade fairs and tourism reinvestments, to boost the tourism industry. is incentive will be available for tourism businesses until 2034. is is on top of income-tax holidays, deductions for electricity expenses, and
MASINLOC, Zambales—
A total of 8,104 families comprising 23,394 individuals evacuated to safety, as super typhoon “Uwan” (Fung-wong) began lashing the province with gale-force winds late Sunday night.
Zambales Provincial Disaster Risk Reduction and Management Office (PDRRMO) head Rolex Estella said hundreds of residents from the 13 towns of Zambales heeded the call for preemptive evacuation early Sunday due to expected storm surges.
Most of the evacuees were from coastal communities in Santa Cruz town, with a total of 7,207 individuals; Botolan, 4,795; Masinloc, 3,084; Subic, 2,259; and Candelaria, 2,180.
e evacuees were temporarily housed in barangay halls, schools, and other public centers.
e Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said Uwan has weakened into a typhoon as it exited the Philippine area of responsibility.
However, heavy rainfall warning remains hoisted over Zambales, along with several areas in Central Luzon, as of this writing,
the PDRRMO said.
e PDRRMO issued Wind Signal No. 4 over the northern towns of Santa Cruz and Candelaria and Signal No. 3 over the rest of the province as of 5 a.m. Monday.
Flooding had also been reported in coastal areas and riverine communities in Masinloc, Santa Cruz, Subic, and Olongapo City during high tide on Sunday. Most towns in Zambales also suffered from power interruption since Sunday evening, as strong winds toppled trees that snagged power lines.
e National Grid Corporation of the Philippines (NGCP) said it had restored power supply across Zambales as of 4:30 p.m. on Monday. Gov. Hermogenes Ebdane Jr. said LGUs had been proactive in preparing for the typhoon and closely monitored the situation since Sunday.
Ebdane also inspected bridges and dikes in major river systems in the province on Monday morning and gave the assurance that flood control infrastructures are holding up.
Estella said that except for some partially damages houses, no major damages had been reported thus far throughout Zambales.
duty-free exemptions on capital equipment, among others.
FDI in tourism slips 30%
DATA from the Bangko Sentral ng Pilipinas (BSP) showed that net foreign direct equity investments fell by 43.55 percent to US$724.46 million in January to July 2025 from $1.28 billion in the same period last year. Direct equity investments in accommodations and food service activities accounted for a little over 1 percent of the equity investments. FDI in the sector slipped by 29.92 percent to $7.88 million, from $11.24 million in the seven months to July 2024.
Earlier, Tourism Infrastructure and Enterprise Zone Authority (Tieza) Chief Operations Officer Dr. Mark T. Lapid said his agency has been designated an investment promotion agency for the tourism industry.
As such, it is the only government entity that can extend fi scal incentives to tourism-related investments such as hotels and resorts, wellness centers, to name a few. (See, “Tieza registers investments of P6B from hotel sector,” in the B-
, August 5, 2025.)
At the same summit, Kenya also said it using tax incentives and economic zones to encourage private investors to build up tourism along its 500-kilometer coastline. Similarly, tax breaks are also being used by Ecuador as part of its strategy to promote the mainland to visitors to the Galapagos Islands.
On the issue of sustainability, Frasco cited its importance as the Philippines continuously faces natural disasters such as typhoons and earthquakes.
“Sustainability for us is not mere theory, it is our lifeline. We pursue tourism that is people-centered and future-centric, knowing that millions depend on our collective ability to protect and strengthen our destinations for generations to come,” she added.
e annual Ministers Summit was held in association with the UN World Tourism Organization and the World Travel and Tourism Council.
UK among top source markets
WTM London is among the world’s most influential travel and tourism
GLOBE Telecom Inc. is establishing an artificial intelligence (AI) “kitchen” model with Amazon Web Services (AWS) as part of their renewed strategic partnership, aiming to democratize AI capabilities across the telecommunications giant’s organization while implementing strict governance frameworks.
e AI kitchen model will serve as a centralized hub for developing and deploying AI solutions that Globe’s various business units can leverage, according to AWS Philippines Country Manager Precious Lim.
“We are working with Globe on an AI kitchen model so they can leverage this across the organization as they democratize AI across Globe,” Lim said in a press briefi ng last week.
Globe has diversified beyond traditional telecommunications into multiple business verticals including fi ntech, venture building, shared services, and digital marketing, among others.
e initiative comes as Globe and AWS formalized a multiyear agreement to accelerate the telco’s digital transformation through
cloud infrastructure modernization and AI-powered customer experience enhancements.
Globe President and CEO Carl Cruz said that democratizing AI access must be balanced with proper oversight and control mechanisms.
“It’s important for us to set proper governance and policies with regard to AI,” Cruz said. “While we democratized the use of technology in the whole organization, we have to make sure that it’s being used the right way. We run governance around it with regular cadence.”
e partnership will see Globe deploying AWS services across multiple areas including cloud infrastructure modernization, enhanced customer experience platforms, network innovation, and real-time operations capabilities. Key initiatives include AIpowered solutions for customer lifecycle management, a customer voicebot built on an AWS AI landing zone, and modernization of Globe’s business-to-business systems and digital platforms including its GOMO service.
Globe is also expanding its cloud footprint through infrastructure investments that in-
BUSINESS process outsourcing (BPO) workers’ group has urged the Department of Labor and Employment (DOLE) to act after fi rms kept normal operations and penalized employees who failed to report on-site despite Typhoon
In an open letter released late Sunday, the BPO Industry Employees Network (BIEN) said the assistance provided by several outsourcing fi rms during the typhoon was tokenism and failed to prioritize worker safety. e group said most companies
only offered limited support such as shuttle services, transportation allowances, meal packs, and temporary work-from-home arrangements, while others provided toiletries and beddings for those stranded in offices. “ e few considerations that companies extend are not acts of compassion. ese are token measures meant to sustain business continuity at the expense of workers’ safety,” the group said. BIEN cited reports from multiple sites in Metro Manila and key hubs outside the capital. It said some fi rms paired “considerations” with penalties for those who refused onsite work, including notices to explain that could affect
incentives. Among the examples it cited was a site in Ortigas that provided shuttle services and packed meals but still marked workers absent and issued notices to explain if they failed to report on-site.
In Makati, another fi rm reportedly offered a P1,000 allowance and free food while issuing disciplinary actions against employees who refused to work in person. Other locations, the group added, offered free shuttles or meals, while several sites in Taguig, Vertis North, Laguna, and Cebu were fl agged as operating with “no considerations.” BIEN said it had previously raised similar complaints to DOLE during Typhoon Tino but received “no response, no update, and no indication that DOLE took any concrete
Editor: Jennifer A. Ng
By VG Cabuag @villygc
SHOPPING-mall operator SM Prime Holdings Inc. revealed its income for the third quarter rose 8 percent to P12.8 billion from P11.8 billion last year, mostly coming from its malls and convention center segments.
This pushed the company’s ninemonth profit to P37.2 billion, up 10 percent from the previous P33.9 billion.
“Our malls remain strong anchors for growth,” SM Prime President Jeffrey C. Lim said through a statement.
“Performance was driven by regional expansion, the upgrading of flagship malls, and the introduction of more experiential retail and dining concepts,” Lim added.
Total revenues from January to September rose 4 percent to P103.4 billion from P99.8 billion.
ROBINSONS Land Corp., the property development arm of the Gokongweis, on Monday said its income rose a mere 1.7 percent to P10.17 billion from the previous year’s P10.01 billion.
Excluding a one-time gain due to the reclassification of its GoTyme Bank investment last year, attributable income rose by 10 percent yearon-year, the company said.
For the nine-month period, consolidated revenues grew by 13 percent to P35.61 billion from the previous P31.42 billion.
The investment portfolio expanded by 9 percent, while the development portfolio delivered a 28-percent growth.
For the July-to-September quarter alone, the company had P3.29 billion of income, a 19-percent increase from the previous P2.75 billion. Meanwhile, revenues grew almost 25 percent to P12.58 billion
Malls accounted for 59 percent of consolidated revenues, increasing 7 percent to P61 billion from P57.3 billion due to the addition of leasable space and tenants.
The residential segment, covering both core and leisure projects, contributed over 31 percent of total revenues, easing 2 percent to P32.6 billion from P33.1 billion due to slower revenue recognition from mid-segment developments.
Hotels and convention centers registered the strongest growth at 9 percent, rising to P6 billion from P5.5
billion last year on the back of higher MICE (meetings, incentives, conferences and exhibitions) bookings.
The segment contributed nearly 6 percent to consolidated revenues.
Revenues from offices and warehouses, which represented almost 4 percent of the total, remained steady at P4.0 billion, reflecting temporary tenant relocations during renovation works in two warehouses.
“The residential and office segments were tempered by macroeconomic conditions, but recovery initiatives are underway,” Lim said.
Capital expenditures reached P59.3 billion in the first nine months, an 11-percent increase from the same period last year, driven by ongoing mall and residential projects. The remainder went to estate, hotel and convention center developments.
SM Prime ended the period with a net debt-to-equity ratio of 46:54 and an interest coverage ratio of 7.1 times. Total assets reached P1.08 trillion, with investment properties accounting for 60 percent, while
cash and cash equivalents stood at P33.2 billion.
Lim said he is confident that the company can sustain its growth in the fourth quarter.
“I think for the fourth quarter of this year, in the malls and hotel business, ...we should be able to sustain the growth; although it might not be as what we have seen in the first half, given the reported slow, slower GDP (gross domestic product) growth on the resi(dential) side, with our measures to address some of the decline in sales that we have seen,” Lim said in a news conference last Monday.
“And also the lowering of interest rates, we hope that we will be able to still generate sales for fourth quarter. So overall, I think we should still be able to grow our fourth-quarter numbers. Although it might not be the same level as what we have seen in the past, hopefully, the government also will start to work on increasing the economic growth moving forward, and we expect that SM Prime will be able to meet each objective for the full year of 2025,” he added.
THE Ayala Land Inc. disclosed last Monday that its income came in flat for the ninemonth period ending September on weak sales from its premium residential products. The property developer's profits for the period hit P21.38 billion from the previous year’s P21.16 billion.
In its disclosure to the local bourse, Ayala Land said revenues for the period fell 3 percent to P121.83 billion from the previous P125.21 billion, as cash from property development fell 1 percent to P75.9 billion.
Residential development fell 2 percent to P63.1 billion, while office and lots for sale rose 3 percent P12.8 billion, owing to strong lot sales in the first semester, complemented by office-for-sale bookings at Makati, Vertis North, and Arca South.
billion, driven by steady take-up of premium projects, improving demand for core projects and growing reservations for industrial lots.
The company launched P51.3-billion worth of property development projects in the first nine months of 2025, anchored by the firm's "Premier’s Laurean Residences" at the Makati central business district. About 91 percent of the projects is composed of vertical and horizontal residential development while the balance of 9 percent includes commercial and industrial lots across Ayala Land estates.
(Tplex), and Ninoy Aquino International Airport Expressway (Naiax). Lorenz S. Marasigan
from the previous P10.08 billion.
“Our performance this quarter underscores the strength and resilience of our core businesses. Despite a more competitive environment and strategic reinvestments, we sustained healthy profitability and expanded our revenue base. We remain focused on strategic capital deployment, and delivering long-term value for our stakeholders,” RLC President and CEO Mybelle V. Aragon-GoBio said through a disclosure with the local bourse.
“As we move forward, we are confident that our diversified portfolio and disciplined execution will position Robinsons Land for continued growth and market leadership,” GoBio added.
Robinsons Malls continued to build on its growth trajectory in the first nine months of 2025, posting total revenues of P14.55
billion, an 11-percent increase from the previous year. This momentum was anchored by strong rental performance, with rental revenues reaching P10.27 billion, up 10 percent. The company said the upswing was driven by a steady 7-percent samemall rental growth and sustained recovery in foot traffic across the portfolio.
Robinsons Malls now spans 1.7 million square meters of leasable space.
The company’s office business, generated P6.24 billion in revenues, a 5-percent increase year-on-year.
Occupancy improved by 100 basis points to 88 percent from the previous quarter, driven by the entry of new IT-business process management operators, according to the company.
Robinsons Hotels and Resorts delivered a 10-percent increase in revenues, reaching P4.74 billion,
led by strong performance across all brands—particularly its international hotel partnerships and its flagship properties brands "Fili" and "NUSTAR." System-wide occupancy stood at 66 percent, reflecting sustained travel demand and improved guest volumes.
Robinsons Residences, meanwhile, posted P4.06 billion in net sales from organic projects, up 30 percent year-on-year, and an additional P2.29 billion from joint ventures. Realized residential revenues surged in the third quarter, climbing 247 percent year-on-year to P3.11 billion, fueled by the recognition of prior year sales that reached the equity threshold.
This momentum brought realized revenues—excluding joint ventures—to P7.84 billion for the period, representing a 76 percent increase year-on-year, according to the company. VG Cabuag
THE Maynilad Water Services Inc. (Maynilad) announced last Monday it is expanding its total water storage capacity to 960 million liters by 2026 from 779 million liters in 2024. A statement by the West Zone water concessionaire read the expansion was achieved through the construction of three new reservoirs—two in Quezon City and one in Valenzuela. These new facilities will enhance supply availability and help maintain stronger water pressure during peak demand periods, particularly in elevated areas where pressure tends to drop due to high withdrawal from low-lying communities, read the firm's statement.
This initiative is part of Maynilad’s ongoing program to expand water storage infrastructure in support of long-term supply reliability, it added.
“By building more strategically located reservoirs, we are strengthening our distribution system and ensuring better service for customers, especially in areas that experience low pressure during peak demand,”
Maynilad President and CEO Ramoncito S. Fernandez was quoted in the statement as saying.
Maynilad is pursuing this expansion through strategic cost management and process efficiency initiatives, including the use of renewable energy, to ensure that its infrastructure investments are both economically and environmentally sustainable, read the statement.
According to Maynilad, the
project forms part of its P31.9billion capital expenditure plan for operations support programs from 2025 to 2029.
As of June 30, Maynilad operates eight water treatment plants, 39 operational reservoirs, 41 pumping stations, and a 7,886-kilometer distribution network. It also maintains 21 serviceable deep wells that may be activated as backup during supply interruptions.
“Ayala Land continues to navigate market challenges with discipline and focus,” Ayala Land president and CEO Anna Maria Margarita Bautista-Dy.
“We remain committed to expanding our leasing portfolio, enhancing property development fundamentals, and driving disciplined execution and capital efficiency. These, together with our quality improvements, are the key ingredients that will enable Ayala Land to sustain long-term growth.” Dy said.
Total sales reservations for residential products and lots improved 3 percent year-on-year to P111.7
Revenues from the developer’s leasing-and-hospitality portfolio rose 6 percent to P35.1 billion from topline growth across all asset classes. Notwithstanding full-swing reinvention works, shopping-center revenues increased 4 percent to P17.4 billion from increasing contributions of new malls and healthy operations of existing malls, according to the company.
Office leasing revenues expanded by 6 percent to P9 billion, supported by better-than-industry occupancy rate of the portfolio, added the firm. Hospitality revenues, meanwhile, posted a 4-percent growth to P7.4 billion on the back of stable portfolio occupancy and the contributions of the recently acquired New World Makati Hotel, despite the temporary closure of select assets for renovation. VG Cabuag
AYALA Land Parklinks Quezon City. PHOTO FROM BUSINESSMIRROR FILE
MAYNILAD Parada Pump Station and Reservoir, Valenzuela City. PHOTO FROM MAYNILAD
Banking&Finance
BOC collections decline on low import volumes
By Reine Juvierre Alberto @reine_alberto
THE Bureau of Customs (BOC)
saw its revenue collections decline in October, dragged down by lower import volumes and falling global oil prices, with the extended rice import ban threatening its ability to meet its full-year target.
Preliminary data from the BOC showed its revenue collections dropped by 4.1 percent to P83.322 billion in October 2025 from P86.885 billion during the same month a year ago. Two key external factors—the
“notable” reduction in import volumes and the declining global oil prices—led to the reduction in the BOC’s revenue collections during the month.
“These factors have significantly constrained the BOC’s ability to
US market maintains strong momentum, highlighting the power of long-term investing
THE US stock market has continued its steady rise in recent weeks.
The S&P 500 is now around 6,700 to 6,800 points, showing a gain of about 17 percent year-to-date. This rally is mainly driven by the strength of the technology sector and renewed enthusiasm for artificial intelligence, especially after the recent Amazon and OpenAI partnership that sparked optimism for AI-led growth. This ongoing rally has been welcomed by investors after the volatility of 2022 and 2023. More than just a headline, it reminds us that long-term investing tends to beat short-term reactions.
Over the decades, the S&P 500 has averaged around 10 percent annual returns, even through wars, recessions, inflation, and political uncertainty. For experienced investors, this history highlights one truth: markets reward patience.
Even with inflation easing and the US Federal Reserve suggesting a more balanced approach, investors remain cautious about the overall economy. Some analysts highlight the resilience of consumer spending and corporate profits as signs of hope, while others caution that valuations for major tech stocks are becoming high. For Filipino investors, the message is clear. Global diversification, which includes investing in large-cap US stocks, can help reduce domestic risks and tap into growth from leading companies worldwide. It’s also crucial to have a balanced portfolio with local investments, fixed income, and other asset types. The focus should be on aligning investments with long-term goals, whether that’s for retirement, education, or financial independence.
Despite the positive momentum, several respected market experts warn that a short-term pullback may be coming. A recent Reuters report notes that some strategists, including executives from Morgan Stanley and Goldman Sachs, have indicated that investor positioning and valuations are high, which often signals a potential market correction.
Morgan Stanley’s CEO recently stated that the market could see a 10 to 15 percent drop even without a major economic shock. Additionally, derivatives analysts have observed that an increase in bullish options trades has made markets more vulnerable to sudden drops, raising the chances of sharper swings if sentiment changes. Such pullbacks, however, are a normal part of healthy market cycles. They help cool off overextended sectors and give long-term investors chances to reinvest at better prices. In fact, many professional investors view these periods as opportunities to “rebalance” to take profits in thriving areas and strengthen positions in undervalued ones. It’s important to remember that no market rises smoothly.
Short-term corrections often act as stepping stones for future growth. As the saying goes, the market takes the stairs up and the elevator down, but
generate revenue, underscoring the broader economic headwinds affecting trade and commodity markets,” the agency said.
Month-on-month, the BOC’s collection went up by 3.78 percent from the P80.284 billion posted in September 2025.
“The reconfiguration of global chains due to Trump’s tariffs has made the country’s exports less competitive,” Leonardo A. Lanzona, economist at Ateneo de Manila University, told the BusinessMirror
The national government is expecting the country’s goods exports to contract by 2 percent this year due to slower global demand and heightened trade policy uncertainties.
A 19-percent tariff rate was slapped on the country’s exports entering America, with one concession was for the Philippines to remove
long-term investors know that every decline is temporary while growth accumulates over time.
The Investor’s Mindset IN a world filled with headlines, the biggest challenge for many investors today isn’t the market itself but their emotional reactions to it. Every news piece about inflation, interest rates, or geopolitics can spark anxiety or hasty decisions. Yet time and again, data shows that investors who remain invested during uncertain times tend to outperform those who frequently move in and out of the market.
Financial planners often stress three essential habits: consistency, discipline, and diversification. By investing regularly, sticking to a plan, and spreading risk across various assets, investors can handle short-term volatility while benefiting from the long-term upward trend of the markets.
In the Philippines, global investing is now easier than ever with local platforms and feeder funds that track US and international markets. These options allow everyday investors to take part in global growth while enjoying convenience and professional management at home.
Ultimately, the current strength of the US market reflects both optimism about the future and confidence in growth driven by innovation. While short-term volatility may cause unease, it shouldn’t derail long-term plans. History has shown that the best investment approach is not to guess where the market will go next month but to stay invested for the next decade.
Markets may face a pullback, and it’s likely they will, but that’s not a reason to pull back. For those with a clear plan, patience, and perspective, market dips can be opportunities instead of threats.
As long as investors remain focused on fundamentals, diversified across assets, and guided by purpose, the path to financial freedom stays well within reach. Investing within your principles will guide you to stay the course and to focus on long term growth while for short term position, consider high yield savings or money market funds to avoid volatility. Timeline and asset class is important so you will have a diversified portfolio aligned with your financial goals.
Karlo Biglang-awa is a Registered Financial Planner of RFP Philippines. To learn more about personal financial planning, attend the 115th RFP program this January 2026. Email info@rfp.ph or visit rfp.ph to learn more about the program. The views expressed by the author herein do not necessarily reflect those of the BusinessMirror
duties on US goods entering the domestic market.
“Even if we experience continued depreciation, the huge tariffs imposed on our exports have diverted trade to other countries, leaving us wanting,” Lanzona said.
The Cabinet-level Development Budget Coordination Committee has set the BOC’s revenue collection target to P958.714 billion this year, higher by 2.02 percent than last year’s goal of P939.694 billion.
Lanzona said the DBCC should adjust the targets set for the BOC, and all other macroeconomic and fiscal targets, as “there seems to be no reason we can meet our targets.”
“The DBCC should realize the repercussions of the low export volumes. This ultimately weakens the manufacturing sector and raises unemployment,” Lanzona added.
The DBCC reviews and approves the macroeconomic targets, revenue projections, borrowing level, aggregate budget level, and expenditure priorities of the country.
Meanwhile, John Paolo R. Rivera, senior research fellow at state-run Philippine Institute for Development Studies, told the BusinessMirror that the BOC’s full-year collection might end slightly below target.
“The extended rice import ban limits another significant source of customs revenue and may make it harder for the BOC to fully meet its target,” Rivera said.
President Ferdinand R. Marcos Jr. has approved extending the rice import ban until the end of 2025, in a bid to arrest the slide in farmgate prices of palay. (See: https://businessmirror.com.ph/2025/11/03/ marcos-extends-rice-ban-till-
end-25-to-halt-farmgate-dip/).
The BOC said earlier that the prolonged temporary import ban on rice will have only a minimal impact on the government’s tariff take.
Customs Assistant Commissioner Vincent Philip C. Maronilla said the BOC will put in additional work to search for other sources of revenue to cover any deficiencies in its collections caused by the rice import ban. Still, Rivera said the BOC’s fullyear outcome will depend on holiday-season import demand, oil price trends and foreign exchange movements.
He noted that if these factors remain subdued, the BOC may fall slightly short of its target. Although better collection efficiency and faster post-disaster reconstruction imports could still narrow the gap, Rivera added.
Slow Q3 growth fuels bets of cut in policy rates
THE Philippines’s slower-thanexpected economic growth in the third quarter of 2025 has fueled expectations that the Bangko Sentral ng Pilipinas (BSP) will slash rates in December, as investment and public spending faltered amid governance issues.
According to Suhaimi Ilias, analyst at the Maybank Investment Banking Group (IBG), the BSP is expected to cut its key policy rate by 25 basis points in December to bring the benchmark rate to 4.50 percent.
“The combo of lower-than-expected inflation, a wider output gap, and moderating growth momentum provides room for continued monetary accommodation,” Ilias said.
The country’s gross domestic. product (GDP) expanded by 4 percent year-on-year in the third quarter of
T2025, below the market consensus of 5.2 percent and slower than the 5.5 percent expansion recorded in the previous quarter.
With this weaker growth, Ilias said Maybank IBG trimmed its 2025 full-year GDP forecast to 4.8 percent from the previous 5.6 percent due to risks from global trade uncertainties, slower domestic demand and governance concerns over infrastructure spending.
Maybank IBG’s growth projection falls below the government’s target range of 5.5 percent to 6.5 percent for this year.
“This revision mainly reflects weakened business sentiment stemming from ongoing governance concerns surrounding public infrastructure spending,” Ilias said.
Ilias cited the remarks by BSP Governor Eli M. Remolona Jr. dur-
floats stablecoin limit
HE UK plans to temporarily impose caps on stablecoin holdings of £20,000 ($26,350) for individuals, and allow issuers to have as much as 60 percent of the backing assets in shortterm government debt.
The Bank of England revealed a softening in its stance to regulating sterlingdenominated stablecoins in revised proposals published on Monday, although its positioning still remains more strict than that of US regulators.
The BOE said stablecoins — which are cryptocurrencies pegged to another asset, usually a traditional counterpart like the US dollar or British pound — “have the potential to make payments faster, cheaper and more efficient and could be used widely for payments.” It plans to finalize the rules, which cover coins used widely for everyday payments, following industry feedback next year.
The plans would allow issuers to back a significant share of the coins with shortterm government debt and UK officials believe the ownership caps are high enough to avoid stifling innovation. However, the proposals on backing assets were criticized by the industry and the consultation confirmed a tougher approach to regulating the digital assets compared with the US where there are currently no limits on stablecoin holdings.
“We’ve listened carefully to feedback and amended our proposals for achieving this, including on how stablecoin issuers interact with the Bank of England,” said Sarah Breeden, deputy governor for financial stability. “These proposals are
fit for a future where stablecoins play a meaningful role in payments.”
While the BOE is taking a softer approach to stablecoins after Governor Andrew Bailey initially voiced his skepticism, the industry has raised concerns that the UK will struggle to compete with a more relaxed regime in the US. Dollar stablecoins already dominate the market.
The BOE wants its stablecoin rules to be in place as quickly as the US regime after excitement grew following the Trump administration’s Genius Act that aims to normalize the digital assets.
Monday’s proposals marked a more moderate stance compared with the BOE’s 2023 discussion paper which argued for backing assets to be “restricted to central bank deposits only.”
However, Varun Paul, senior director for financial markets at Fireblocks, warned that “the requirement to hold 40 percent in unremunerated reserves will be hugely unpopular as it renders all existing stablecoin business models unviable and it continues to put UK issuers at a disadvantage to the US.”
“This is a step forward from the November 2023 discussion paper, but it unfortunately misses the opportunity to be genuinely world leading,” said Paul, a former head of the BOE’s fintech hub.
The limits are also likely to attract criticism. Breeden has previously said that the UK needs to take a more cautious approach on caps because of the different structure of Britain’s financial system, as the mortgage market relies on lending by commercial banks. Bloomberg
ing the August 2025 Monetary Board meeting: “The stock market has declined, and fewer companies were expanding their operations.”
“This has led us to significantly lower our investment outlook, with gross fixed capital formation expected to grow by 3.1 percent in 2025 from 6.2 percent, previously,” Ilias said.
Private consumption also weakened amid typhoon disruptions and governance concerns over infrastructure spending, prompting households to defer purchases of durable goods, which declined to 0.6 percent in the third quarter from 11.8 percent in the previous quarter.
Still, Ilias noted that consumption is supported by benign inflation, a stable labor market and a weakening peso, which could bolster remit-
Atotal of P1.684 billion was released by the Department of Budget and Management (DBM) to replenish the Quick Response Funds (QRFs) of frontline agencies to boost disaster recovery and rehabilitation in areas affected by recent calamities across the country. In a statement last Monday, the DBM announced that it has approved the QRF replenishment for the Department of Agriculture (DA), the Department of Social Welfare and Development (DSWD), and the Philippine Coast Guard (PCG). Of the total amount, the DA received P1 billion to support recovery and rehabilitation programs in areas hit by the African Swine Fever and recent tropical cyclones. The fund will also serve as a reserve for future agricultural recovery efforts in preparation for possible disasters, including the potential impacts of Super Typhoon Uwan, the DBM said.
According to the special provision of the 2025 General Appropriations Act, the DA’s QRF will finance the provision of inputs for crops, livestock, poultry and fisheries; repair of production and postproduction facilities; and cash aid
tance inflows from overseas Filipino workers.
However, private consumption will be constrained by weaker consumer confidence and subdued investment, following the sharp 26.2 percent year-on-year decline in public construction in the third quarter due to stricter validation of government infrastructure projects, Ilias added.
Despite near-term headwinds from governance issues and weak investment activity constraining growth to 4.8 percent in 2025, Maybank IBG expects the Philippine economy to “gradually recover” to 4.9 percent in 2026. This will be supported by resilient domestic consumption, accommodative monetary policy and improving external demand conditions, Ilias said. Reine Juvierre S. Alberto
or tools for affected farmers and fishers.
Meanwhile, the DSWD obtained P631.023 million to bankroll the procurement of family food packs and non-food items, stockpiling of relief goods and emergency cash transfers to 58,962 families impacted by earthquakes and storms across several provinces. The allocation will also cover warehouse rentals, administrative costs and stand-by funds for DSWD regional offices.
“Our request to the DSWD is that the aid should reach the affected families immediately so they can return to normal lives,” Budget Secretary Amenah F. Pangandaman said. Additionally, the DBM also issued P53.007 million to PCG to strengthen its relief, rehabilitation and search-and-rescue operations during calamities.
QRFs are standby funds that first response agencies can tap to immediately provide relief and assist areas stricken by catastrophes and crises.
If the QRFs of first response agencies reach 50 percent or lower, they may request replenishment to the DBM, which will be approved by the Office of the President. Reine Juvierre S. Alberto
Housing loan borrowers given reprieve by NHMFC
to grant a moratorium to borrowers in areas massively damaged by the recent typhoon, as well as in anticipation of the landfall of Typhoon “Uwan.”
“We understand the tremendous challenges our borrowers are facing right now, and this initiative is our way of extending compassion and support. By giving one-month relief from loan payments, we hope to ease their burden and give them the time they need to recover and rebuild their lives without worrying about their housing payments,” Tobias said. He added that “through this moratorium, NHMFC stands in
solidarity with families affected by Typhoon Tino.” This initiative provides immediate relief by deferring the billing and payment of the monthly amortization. Penalties or surcharges will not be accrued on the monthly amortization during the moratorium period. Borrowers who still wish to continue their payment may do so voluntarily. For borrowers with updated accounts, any payments shall be considered advanced payments.
PERSONAL FINANCE
Karlo Biglang-Awa
Art BusinessMirror
Fil-Am artist from Cebu stars in Las Vegas City Hall exhibit
THE artworks of a Filipino-American artist shine along the dazzling Las Vegas lights in an exhibit at the seat of power of the “Entertainment Capital of the World.”
Loisse Ledres, a visual artist born in Cebu, stars in an ongoing showcase at Las Vegas City Hall running until March next year. Her exhibit is part of the “Windows on First” program, referencing the three display windows on the east side of the building facing First Street, allocated to “provide artists a unique opportunity to expand their skill-sets and display their work in a public space.” Ledres’ exhibit, titled See the Music All Around Us, takes inspiration from her love for music, cultivated from karaoke-filled fiestas and family reunions during her childhood.
“Music was always around me growing up,” said Ledres, who’s also a designer and an illustrator. “It wasn’t just entertainment, it was how we expressed joy, connection and belonging. [This series] captures all of that energy—a tribute to community, culture, and the creative pulse of Las Vegas.”
Ledres grew up in Talamban, Cebu City. After graduating from elementary school at age 11, she and her family migrated to the US. They first moved to a small town in North Carolina, then New Mexico, then New York, and, currently, Nevada.
For her presentation at Las Vegas City Hall, Ledres’
abstract series puts “a vibrant display of wood, paint and light as a dedication to music.” Her installation aims to visualize how rhythm, lyrics, and melodies “support our instinctual desire to understand ourselves and our place in the world.”
“I leaned into abstraction to reflect the undefinable impact music can have on us. I enjoy live music so much for that reason and wanted the art to feel like the flashes of color, shape and light that are left in our memory the day after a really great show,” she said.
“Music is a universal connector across generations, languages and beliefs.”
Ledres’ pieces take inspiration from concert posters from the 1970s and handmade magazines. She interprets these iconographies on wood carvings, layering them one by one, before splashing them with color. Her theater background and set-design experience are also reflected in her large-scale visual compositions.
“With figures in motion, I sought See the Music All Around Us to capture the fleeting feeling of being surrounded by sound—remembering only flashes of light, laughter and movement from a night of celebration,” Ledres said.
The artist considers her Las Vegas City Hall presentation as her last major project for the year. It was an undertaking that demanded a lot from her, but in the end the exhibit helped her overcome her selfdoubt. Her friends reminded her that if something doesn’t scare her, then it’s not worth doing.
Ledres said she plans to visit the Philippines next year. She hopes to do an installation for her birthplace, Cebu City, particularly something for the Sinulog festival.
“I would love to reflect the synchronicity of the Sinulog choreography—the vibrant detail of the costumes, and the way the city pauses to enjoy and celebrate something together,” Ledres (www.geezloisse. com) said. “I want to reflect all of that in the artwork.”
LOUVRE VOWS TO RESTORE THE IMPERIAL CROWN DROPPED BY THIEVES DURING MUSEUM ROBBERY
BY SYLVIE CORBET The Associated Press
PARIS—The diamond and emeraldstudded crown of Empress Eugénie, which was found damaged outside the Louvre after apparently being dropped during the October 19 robbery, will be restored as a symbol of “renaissance,” the museum’s director Laurence des Cars said on Friday.
Thieves made away with eight objects on display at the Paris museum, including a sapphire diadem, necklace and single earring from a set linked to 19th-century Queens Marie-Amélie and Hortense. They forced their way through a window into the Apollo Gallery with the help of a freight lift, using disc cutters to cut through display cases and steal the jewels.
Only Empress Eugénie’s imperial
crown, with more than 1,300 diamonds, was recovered on the day of the robbery outside the museum.
Des Cars said the crown was likely damaged when it was removed from its display case through a “small cut” made by the disc cutter, rather than when it fell down on the ground.
“All of the most important pieces, the diamonds and emeralds, are actually still there,” she said in an interview with the France Info news broadcaster. “A few small pieces of diamonds are missing, but that’s about it,” she said, adding that “one of the eight gold eagles on the crown is missing.”
Des cars confirmed the crown will be restored with financing from patrons who already offered their support.
“We’re going to set up a scientific committee to supervise the restoration
and it will be a beautiful symbol of the Louvre’s renaissance,” she said.
Des Cars offered to resign on the day of the robbery, which was refused by the culture minister.
“I saw a tragic, brutal, violent reality for the Louvre, and as the person in charge, after all the hard work done by the teams that day—it felt right to offer my resignation,” she said.
Des Cars said she pushed for modernizing the museum soon after she was was named its head in 2021.
Problems she listed include “the obsolescence of our technical facilities, the dilapidation of the building, structural issues related to welcoming visitors and overcrowding in the pyramid, which was designed for four million visitors but now welcomes nine million, and the problem with the display of the Mona Lisa, which is very unsatisfactory.”
Her comments come a day after France’s court of auditors urged the Louvre to speed up its security modernization plans as a priority.
The report, focusing on the 20182024 period and conducted before the robbery, said the museum’s investments prioritized “visible and attractive operations,” such as buying new pieces of art and improving visitor experience, rather than security.
Des Cars rejected the criticism, arguing that the Louvre is tasked with all missions together.
The decade-long “Louvre New Renaissance” plan, which includes security improvements, was launched earlier this year. It is estimated to cost up to €800 million ($933 million) to modernize the museum’s infrastructure, ease crowding and give the famed Mona Lisa a dedicated gallery by 2031.
unfolding, and take a step back until you have a sound solution and can see a path forward that doesn’t do more harm than good. Intelligent navigation is necessary if you want to come out on top. ★★★
VIRGO (Aug. 23-Sept. 22): Refuse to let your thoughts spin out of control. Saying something prematurely will have a reverse effect on what you are trying to achieve. Choose kindness and consideration over accusations, and you’ll find common ground and a positive passage forward. ★★★
LIBRA (Sept. 23-Oct. 22): Think twice before purchasing something you don’t need. Emotional spending or trying to buy someone’s favor will backfire. Channel your energy into rearranging your space to suit your needs. If your surroundings flow, so will your responsibilities. ★★★★
SCORPIO (Oct. 23-Nov. 21): Sort through your emotions before confronting a situation with someone you share expenses with or live in proximity to. Pay attention to maintaining balance in your life, and split your work and play time equally. A change of scenery will be uplifting or educational, depending on how you adapt to your new surroundings. Choose your venues with care. ★★
SAGITTARIUS (Nov. 22-Dec. 21): Take the initiative and make things happen. Relying on others to do things for you will lead to disappointment. Once you initiate what you want to achieve, it will boost your energy and confidence and give you the resolve to complete your mission. Rise above negativity and walk away from whatever and whoever holds you back. ★★★★★
CAPRICORN (Dec. 22-Jan. 19): State what you are willing to do, and you’ll spare yourself having to backtrack, leaving you more time to concentrate on what’s meaningful to you. Opportunities will multiply according to how easy you are to deal with and to comply with agreements you make along the way. ★★★
AQUARIUS (Jan. 20-Feb. 18): Pay attention to who does what and how you can compensate to live up to your word and responsibilities. Keeping the momentum flowing and ensuring everyone is happy is a tall order, but doable if you are calm and accommodating. Only initiate necessary alterations to avoid confusion and to maintain your budget and promises without risk. ★★★
PISCES (Feb. 19-March 20): Choose to
Bing Pimentel blooms where she is planted
MANY will agree that age offers an extra dimension in older actors. They bring a truthful kind of richness to their character, and, to a certain extent, a unique tenderness, however ironic it may sound, which becomes manifest when they breathe life into their roles because of experience.
Bing Pimentel is turning 65 in a few months and she agrees. “A major advantage of senior actors is our accumulated life experience, which gives us a deeper understanding of complex human emotions and relationship dynamics. I guess it is because we have lived these experiences, and we bring a wealth of these into our roles, hopefully enriching our performance,“ affirmed Pimentel. She is also very realistic. “The older I get, the more I feel about the lack of quality roles, particularly for women, who still face challenges of age discrimination in an industry that prioritizes youth and appearance. And truth be told, the hardest thing about being a senior actor is that oftentimes, life also gets in the way. So we just have to seize the opportunities in specific niches within film and television, and perhaps some of the newer platforms in order to thrive and survive.”
After her return to acting two decades ago, when life was more organized and she had the luxury of time in her hands, Pimentel realized that the only way to stay in the business was to be determined and unflinching. “Every offer that I said yes to allowed me to learn and discover things not only about myself, but about other people and the system itself. There are times when I feel like a small fish in a big pond, and I have to swim like I’m not tired or afraid or lost in order to stay afloat. I had to be constantly tough. I had to be consistently assertive. I had to be straightforward and pleasant at the same time especially in the ongoing culture of local filmmaking where many are too sensitive about themselves but are lacking in sensitivity toward others.”
Pimentel has done around close to 40 films to date, and some television work too. She has brought home acting trophies and garnered several nods for her outstanding performances in recent years.
“I no longer think I would become a household name—actually I never did. I ditched acting after my first feature film [Batch ’81], because I fell in love, got married and motherhood beckoned. I guess [director] Mike de Leon was not so happy that I had to stop, not because I wasn’t happy after my first film experience, but because life got in the way. When I returned to
NEW
YORK—Predator: Badlands led all films in North American theaters with a debut of $40 million, according to studio estimates on Sunday, a betterthan-expected result that slightly lifted the box office from its autumn doldrums.
acting, the milieu had changed, the landscape was so different from that time I took a long pause. I had to re-boot, to observe, to adjust, to re-learn, to feel my way in. But it didn’t matter, and it doesn’t matter, because I get to do what brings me joy,” she volunteered.
Pimentel shared that portraying Lilia in Netflix’s The Time That Remains brought her so much joy. “I feel very privileged to have landed this role because Lilia did not only open her mind and heart but she also allowed herself to be vulnerable and honest. She was very realistic, which I hope I can learn to be because many times I tend to overthink and overreact, but Lilia was both strong and empathetic from the inside, coming from her core, and I want to achieve the strength that she has. Plus she’s always chill.”
Pimentel shared that there was a huge unease that hovered in her thoughts before she traveled to Baguio
for the shoot, even after she had prior discussions about her role with filmmaker Adolfo Alix Jr. and she also did pre-shoot activities arranged by producer Bianca Trinidad of Black Cap Pictures with her co-actors Carlo Aquino, Jasmine Curtis and Beauty Gonzales.
“During the start, I have to admit that I was fighting myself in order to get into the groove. It was not easy to have a mindset of kissing a young man who is as old as my children, and who addresses me as ‘Tita.’ Carlo is 24 years younger than I am, and if I’m not mistaken, I have only kissed three actors throughout my entire career: Christopher de Leon, Joel Torre and the late Ricky Davao. I mean, lips to lips ha!” Pimentel burst into an almost teen-like guffaw. She continued, “I have to give all the credit to Carlo because he was very professional throughout our shoot, and caring too, making sure we were
both comfortable and relaxed. And Carlo did impress me because he was always on point with his characterization and his lines. He is, without doubt, a very credible, conscientious and competent actor. I have to also mention that my scenes with Beauty were very special. Beauty is a brilliant actor—very restrained, very sincere.”
Outside acting, Bing Pimentel is a also a businesswoman and a doting grandmother to her three grandchildren—Sandro and Massi (sons of Max Eigenmann) and Halo (daughter of Sid Lucero). She is also in the thick of preparations for a special dance and fashion benefit ball in January at The Manila Hotel with her Middle East-based designer-friend that goes just by the name Yen.
“I’m happy that I am busy, and hopefully I’ll continue to age gracefully, and bloom wherever I am planted. I’d like to focus on the things that give me passion, purpose and many priceless memories,” she ended.
GMA NETWORK SHOWCASES BAYANIHAN SPIRIT THROUGH KAPUSO BLOODLETTING DAY
DEMONSTRATING its commitment to public service and embodying the spirit of bayanihan, GMA Network held the Kapuso Bloodletting Day on October 24. Led by the GMA Corporate Affairs and Communications department in partnership with the GMA Kapuso Foundation (GMAKF) and the Philippine Red Cross, the initiative formed part of ongoing efforts to provide support to the victims of recent earthquakes in Cebu and Davao.
GMA employees across various departments donated blood to further aid individuals in the affected areas.
“It’s really a united effort from GMA management, its employees, and GMA’s cooperative—so talagang sama-sama to make this bloodletting successful,” said GMAKF executive vice president and COO Rikki O. Escudero-Catibog.
“Nakakatuwa na ang dami nating mga Kapuso dito sa GMA, na kahit naka-duty, nagpapaalam sila to come here for a while and donate blood for the victims of the earthquake not only in Cebu but also in Davao and other parts of the country,” shared GMA Network vice president and head of corporate affairs and communications Angela Javier Cruz.
In total, the Kapuso Bloodletting Day amassed 148 blood bags, which were then turned over to the Philippine Red Cross. Every blood bag will benefit three individuals in need of life-saving transfusions.
On the heels of the worst box office weekend of 2025, Predator: Badlands faced little competition from new titles. Not accounting for inflation, the $40 million opening marked a new high for the dreadlocked alien franchise, besting the $38.3 million launch of 2004’s Alien vs. Predator. Predator: Badlands, written and directed by Dan Trachtenberg, collected another $40 million overseas for the Walt Disney Co.’s 20th Century Studios. A key factor for Predator: Badlands is that, with a budget of $105 million, it’s also the most expensive Predator film. Badlands, the eighth movie in the franchise that began with 1987’s Predator, offers a novel twist for the sci-fi series. On a remote planet, a young, outcast predator (Dimitrius Schuster-Koloamatangi) encounters an android researcher (Elle Fanning), and the two set off on a journey. Reviews (85 percent fresh on Rotten Tomatoes) have been good. Moviegoers gave it an “A-” CinemaScore. Good news had lately been hard to find in movie theaters. On Wednesday, AMC Theaters, the largest theater chain, posted a $298.2 million quarterly loss, partly due to a less-than-stellar summer season. But the fall has been worse. Last month was the lowestgrossing October in nearly three decades. Few awards hopefuls have made much of a mark. This weekend, a new wave hit theaters. But despite plenty of star power, most fell flat.
Die My Love, starring Jennifer Lawrence and Robert Pattinson, launched with $2.8 million from 1,983 theaters. The film, directed by Lynne Ramsay, stars Lawrence as a new mother and Pattinson as her husband. Mubi plunked down a reported $24 million for Die My Love after its debut at the Cannes Film Festival. Audience slammed it with a “D+” CinemaScore.
Christy starring Sydney Sweeney as the professional boxer Christy Martin, debuted with $1.3 million in 2,011 theaters. The film, the first one distributed by production company Black Bear
Pictures, has earned Sweeney awards buzz since its premiere at the Toronto International Film Festival. Sony Pictures Classics’ Nuremberg, a post-World War II drama about the Nuremberg trials starring Rami Malek and Russell Crowe, managed to do a bit better. It opened with $4.1 million in 1,802 theaters. It was slightly edged by the best performer of the newcomers: Sarah’s Oil. The Amazon MGM release opened with $4.5 million from 2,410 locations. It stars Naya Desir-Johnson as a young Black girl in the early 1900s who learns that her Oklahoma land allotment is rich with oil. Sarah’s Oil scored a rare “A+” CinemaScore from ticket buyers. Arguably the most promising of the prospective awards movies to open in theaters over the weekend was Neon’s Sentimental Value The film, a prize-winner at Cannes, directed by Norwegian-Danish filmmaker Joachim Trier, has been tabbed as a major Oscar contender this year. The family drama’s cast includes Renate Reinsve, Stellan Skarsgård, Inga Ibsdotter Lilleaas, and, in her second movie of the weekend, Elle Fanning. It opened in four theaters with $200,000, giving it a $50,000 per-screen average. That’s the third best of the year.
The debut of Predator: Badlands sealed the Walt Disney Co.’s fourth straight year of $4 billion in worldwide ticket sales. It also broke a short streak of disappointments for the studio, including Tron: Ares and Springsteen: Deliver Me From Nowhere. With potentially two of the biggest box-office hits of the year still to come in Zootopia 2 and Avatar: Fire and Ash, Disney is
THE eighth in the movie franchise, Predator: Badlands starring Elle Fanning led the tills in North America.
Okada Manila proudly celebrates a new culinary milestone as Ginza Nagaoka receives the coveted MICHELIN Selected recognition, an honor that highlights the restaurant’s refined mastery of omakase and the artistry of Japanese dining.
The accolade, presented at the inaugural MICHELIN Guide Ceremony in the Philippines on October 30, 2025, reaffirms Ginza Nagaoka’s commitment to seasonality, precision, and craftsmanship—principles that lie at the heart of Japan’s culinary tradition. The award was received by the restaurant’s Chef de Cuisine Junji Nagaoka.
“This recognition is a reflection of our team’s devotion to excellence and authenticity,” said Chef Nagaoka. “Ginza Nagaoka embodies the essence of omakase— trust between chef and guest. Each service is a performance of timing, flavor, and respect for tradition, brought to life through the delicate artistry that defines Japanese cuisine.”
Ginza Nagaoka offers an intimate 10-seater sushi counter where guests experience omakase in its purest form— personal, serene, and refined. Each course
is carefully prepared before diners’ eyes, transforming the freshest seasonal ingredients into a harmonious culinary journey that celebrates balance, texture, and purity of flavor. The minimalist interiors and counter design create an atmosphere of quiet sophistication, allowing guests to focus on the rhythm and grace of each course.
The MICHELIN Selected award gives the spotlight to restaurants that deliver exceptional cuisine and unforgettable dining
experiences. This recognition underscores Ginza Nagaoka’s dedication to the highest standards of dining excellence.
The achievement also strengthens Okada Manila’s position as an integrated resort that celebrates artistry, authenticity, and premier gastronomy.
Experience world-class Japanese dining—and discover over 40 outstanding restaurants offering global flavors, only at Okada Manila.
Gumande Tires Welcomes Official Brand Ambassadors
four of the most influential names in the riding community — Heneral Kamote, Motokem, Lakwatserong Technician, and Motobry.
The contract signing ceremony is an essential milestone for Gumande Tires as it continues to introduce its brand of tibay, kapit, at tapang to the Filipino market. Each ambassador represents a unique voice in the motorcycle community, united by one passion: to ride with confidence and strength.
“Gumande Tires is not just about performance, it’s about people,” said the management of Gumande Philippines. “Through our ambassadors, we honor every rider who faces the road with courage, every Filipino who keeps moving forward no matter the challenge. That’s what ‘Kapit ng Gulong Matinde’ truly stands for.”
Built with advanced rubber engineering and precision tread design, Gumande Tires delivers maximum grip, durability, and performance on real-world Filipino roads. With its ambassadors leading the charge, Gumande aims to connect premium tire innovation with the everyday rider, making world-class quality accessible to all.
This event marks the beginning of a series of campaigns that will bring Gumande closer to the motoring public, celebrating the Filipino spirit of strength and perseverance on the road.
With Hongqi, Alice Dixson Decides What Drives Her
drive Hongqi”.
In addition, Dixson highlighted how the experience of a Hongqi vehicle is like no other. As an actress, model, mom, and now, Hongqi’s latest brand ambassador, Dixson says that she was wholly impressed at the brand’s ability to balance style, performance, safety,
Meralco reinforces drive to advance Philippine electric vehicle adoption
MANUEL V. Pangilinan-led Manila Electric Company (Meralco) has reaffirmed its commitment to accelerate the country’s transition to sustainable mobility during the 13th Philippine Electric Vehicle Summit held from October 23 to 25, 2025 at the SMX Convention Center Manila in Pasay City. With the theme “Charge Ahead, Ignite the EVolution,” this year’s summit highlighted the growing momentum of electric vehicles (EVs) as a mainstream choice for consumers and businesses.
During the summit, Meralco showcased its Electric Vehicle Adoption Program, which serves as a cornerstone of its efforts to advance sustainable transportation in support of a cleaner, smarter, and more energy-resilient future for Filipinos. The program is anchored on three pillars: Meralco as an Enabler through which it ensures reliable EV charging infrastructure; as a User which entails transitioning Meralco’s own fleet to electric vehicles; and as a Player with Meralco operating commercial charging stations and forming strategic partnerships to expand EV adoption nationwide.
In his welcome message to the summit participants,
Meralco Executive Vice President and Chief Operating Officer Ronnie L. Aperocho emphasized the company’s role in driving the EV revolution.
“Electric mobility is no longer a distant vision; it is here, it is real, and it is transforming the way we move and power our lives. Every charging station built, every vehicle electrified, and every consumer who makes the shift to electric is proof that real change is happening now. At Meralco,
also underscored the importance of collaboration among
and industry leaders to advance e-mobility beyond infrastructure through sound policies, public awareness, and unified action.
“This is why Meralco continues to support emerging technologies, bridge barriers, and foster industry collaboration in platforms like the Philippine EV Summit, which unites policymakers, innovators, and industry leaders to collectively drive adoption and accelerate the country’s transition to electric mobility,” Aperocho said.
Henry & Sons, The Giving Café invest in organic fertilizers for higher yield, better-quality beans
Hand comfort, without compromising on sustainability and environmental responsibility.
According to Dixson, sustainability has always been important to her, inspiring her to live consciously and seek more eco-friendly modes of transportation, such as electric vehicles. “I’ve been considering switching to an electric vehicle for a while now, and Hongqi was already one of my top choices,” says Dixson.
“Even before they reached out, I was already familiar with the brand and impressed by what I learned—it consistently stood out as one of the best in the market. That’s why being part of the Hongqi family now feels like such a natural fit. I’m proud to represent a brand that delivers not just premium driving experiences but also champions sustainable and environmentally responsible mobility.” Dixson adds that she’s excited for what’s ahead, hinting that there’s more to come from Hongqi in the months ahead.
On Hongqi’s end, the marque shares similar sentiments to Dixson and believes this collaboration reflects Hongqi’s commitment to excellence.
“Alice’s exquisite taste, adventurous spirit, and values make her the perfect advocate to show the world what Hongqi is all about,” says Rashid Delgado, Hongqi PH and EVOxTerra President and TDG Co-CEO. “And with that, we’re excited to officially have Alice, whose name and style speak for themselves, be the face of Hongqi as it drives into the future.”
Marking the dawn of a new era for Hongqi Philippines, the brand unveils its latest ad featuring Alice and its all-new electric models—the E-H7 and E-HS7. The video is now live on Hongqi Philippines’ official Facebook (hongqi.philippines) and Instagram (@ hongqi_ph) pages.
Philippine luxury car enthusiasts interested in test driving the models may visit Hongqi’s showrooms in BGC, Alabang, Manila Bay, and Quezon City, or visit Hongqi’s official website at www.hongqi.ph to learn more.
ENRY & Sons, together with The Giving Café and its social development arm the Foundation for Sustainable Coffee Excellence (FSCE), launched another meaningful initiative for its partner farmers in Sitio Hartwell, Itogon, Benguet to produce higher yield and better-quality beans.
In collaboration with Harbest Agribusiness Corporation, the group distributed organic fertilizers and conducted hands-on training sessions aimed at strengthening soil health, improving yields, and securing the long-term sustainability of coffee production in the community.
With the coffee cherries already ripening on the trees, the timing of the fertilizer distribution is crucial. As the harvest season approaches this November through February, both farmers and partners are optimistic that the positive effects of this initiative— healthier crops, improved yields, and betterquality beans—will soon be visible.
For Henry & Sons, the initiative is a direct investment in the livelihood of its partner farmers. A healthier, more abundant harvest contributes to the company’s coffee supply chain, while simultaneously ensuring that growers have the chance to sell additional produce to other buyers. The shared success creates a cycle of growth where both the farmers and the broader coffee industry benefit.
Through Harbest Agribusiness Corporation, farmers in Sitio Hartwell received donations of Naturcomplet-G Granulated Humic Acid and Effective MicroOrganisms (EM-1). Both are 100 percent organic and chemical-free solutions designed to boost soil fertility and plant resilience.
Beyond the provision of materials, Harbest’s experts conducted an on-ground workshop, guiding farmers on proper application
methods to maximize benefits and ensure safe, effective usage.
The effort was further inspired by Harbest COO Julius Barcelona, whose vision of supporting grassroots agriculture and helping uplift the coffee industry has been pivotal in shaping similar collaborations. His advocacy underscores the shared belief that sustainable farming begins with empowering local growers with the right tools and knowledge.
The organic fertilizers were officially turned over to the SHALCOGA Farmers’ Association, who oversaw transparent distribution among its members. Careful logging ensured that every farmer received a fair share of the resources. Local growers expressed their gratitude, noting how these inputs will not only improve the quality of their crops but also open the door to stronger yields and potential surplus for expanded income opportunities.
Harbest also conducted a preliminary farm assessment, examining soil conditions and the state of coffee trees in Sitio Hartwell. This allowed experts to identify key challenges and tailor their advice to local conditions. Following the farm check, FSCE and Harbest held a short program outlining the project’s goals and reinforcing the long-term benefits of adopting organic and sustainable practices.
For Henry & Sons and The Giving Café, this program represents more than a onetime donation. It is part of an enduring mission to uplift farming communities, preserve the future of Philippine coffee, and build a resilient, sustainable ecosystem where farmers thrive alongside the industry they sustain.
For inquiries, collaborations, or more information about our barista programs, please visit thevault.ph.
Okada Manila proudly celebrates a new culinary milestone as Ginza Nagaoka receives the esteemed MICHELIN Selected recognition.
In the photo are, from left, Vice President and Head of Facilities and Safety Management Jerry B. Lao; Senior Vice President and Chief Revenue Officer Ferdinand O. Geluz; First Vice President and Chief Sustainability Officer Raymond B. Ravelo; Executive Vice President and Chief Operating Officer Ronnie L. Aperocho; First Vice President and Head of Corporate Retail Services Charina S. Padua; and Vice President and Head of Commercial Strategy Management and Energy Solutions Ralph M. Menchavez.
Farmers from Sitio Hartwell, Itogon, Benguet with representatives from Henry & Sons and Harbest Agribusiness Corporation.
gathering attended by selected media guests and official brand
In the photo are, from left, Dwight John Bunao, Lakwatserong Technician; Mark Anthony Hilario, Heneral Kamote; Miller Chua, Managing Partner, Gumande Tires Philippines; Jeffry Magbanua, Motokem; and Bryan Petrache, Motobry.
Alice Dixson’s timelessness and aura encapsulate Hongqi’s legacy of opulence.
After leaders’ exit, COP30 negotiators grapple with climate finance, fossil fuels, adaptation
By John Ainger & Jennifer A. Dlouhy
WORLD leaders have departed the sprawling COP30 venue in the Amazonian city of Belém, Brazil, after hammering home the message that efforts to tackle climate change are moving too slowly.
Now the real work starts.
Over the next two weeks, negotiators from nearly 200 countries will thrash out the technical details on everything from how best to cut emissions to the structure of funds to help the poorest deal with the impacts of increasingly extreme weather.
Any final deal will mean somehow finding a consensus that can be tolerated by both the world’s biggest fossil fuel producers and the small island states on the frontlines of sea level rise, at a time when other issues, like trade and war, are displacing climate from the top of the international agenda.
“This is really going to be a very different COP” from United Nations Conference of the Parties summits held in recent years, COP30 President André Corrêa do Lago said last week. “It touches so many sectors of the economy that countries really have to be very careful, because no country in the world is ready for the transition.”
Here’s what to watch:
Agenda fight
SOME of the biggest fights of COP
take place on Day One, as countries hash out which items should get formal spots on the conference agenda. This year is no different. Negotiating groups already have advanced several topics for consideration and have until Monday morning to propose more. But setting the agenda requires consensus among delegates, and several of the proposals have provoked friction among countries.
For instance, the group of Like Minded Developing Countries, which includes Saudi Arabia and India, wants to discuss a Paris Agreement provision that calls on developed countries to offer climate finance to poorer nations. It also wants to put on the agenda so-called unilateral trade measures—a thinly veiled reference to the EU’s levy on emissionsintensive imports, which goes into effect next year.
Conversely, the Alliance of Small Island States wants an item on how to respond to a recent report by the UN that showed the world is still well off course keeping global warming below the 1.5C goal outlined by the Paris Agreement. The alliance could face opposition from countries like Saudi Arabia that have resisted any more language on boosting ambition. Brazil has suggested folding those agenda items into an existing negotiating track along with finance, setting the stage for a broader final decision, according
After last year’s $1.3 trillion deal on climate finance, developed nations are trying to shift the conversation back to mitigation in order to keep 1.5C alive. At COP28 in Dubai, countries committed to transitioning away from fossil fuels, yet none of the more than 60 updated national climate pledges since then have put in place targets to reduce oil and gas production.
to people familiar with the matter. The whole effort is overlaid by some countries’ clamor for a cover decision or other broad response to the UN’s sobering assessment of the world’s emission-cutting progress so far. Brazil is meeting heads of delegation on Sunday afternoon in hopes of striking a grand bargain and avoiding a standoff.
Fossil fuel road map
AFTER last year’s $1.3 trillion deal on climate finance, developed nations are trying to shift the conversation back to mitigation in order to keep 1.5C alive. At COP28 in Dubai, countries committed to transitioning away from fossil fuels, yet none of the more than 60 updated national climate pledges since then have put in place targets to reduce oil and gas production.
During his COP30 opening address, Brazil’s President Lula Inácio Lula da Silva said the world needed a road map to “overcome” its dependence on fossil fuels. Agreeing a way forward on that
in Belém would be seen as a major victory by progressive countries and activists. However, it’s not clear where a new, transition-oriented initiative might fit in the COP process.
Countries at COP28 already agreed they’d contribute to “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner,” without setting criteria for what that looks like in practice.
“The truth is that all the fossilproducing countries have agreed to transition away, so we have a mandate,” do Lago told reporters Sunday. “Let’s talk about it.”
“It is clear that the fossil fuel industry is not preparing for just, orderly and equitable transition,” said Kalani Kaneko, foreign minister for the Marshall Islands. “Instead, we see a future of supply shocks, conflict of resources, stranded assets and the legacy of dangerous climate change being visited upon us to serve the interest of others.”
All eyes on Trump THE US is pulling out of the Paris Agreement, with its exit teed up for Jan. 27 next year, and it hasn’t registered any delegates to attend the talks. Yet US officials could show up at any time until the final gavel falls, since the country still remains part of the Paris accord and the underlying framework convention on climate change. Even if that doesn’t happen, the US looms over the negotiations. Under President Donald Trump, the country has asserted a full-throated support for fossil fuels—and a disdain for confronting climate change—and has worked to disrupt action in other multilateral fora, including negotiations on plastics and shipping emissions.
Adaptation
UNLIKE its past two editions, COP30 doesn’t have a big headline deliverable. But one area where negotiators could make real progress is by elevating the need to adapt to climate change—an issue that was highlighted when Hurricane Melissa ripped through Jamaica, causing as much as $4.2 billion of damage.
Talks will focus on the need to narrow down a list of climate resilience indicators from 400 to about 100 by the end of COP30, resulting in a clearer set of criteria for policy assessment and support. An existing goal to double adaptation finance expires at the end of this year, and some delegates hope a new target will replace it.
“This COP needs to agree on an adaptation package with a new finance goal at its heart,” Kaneko said. “Our adaptation needs are overwhelming.” With assistance from Akshat Rathi and Alfred Cang/Bloomberg
Rising polar vortex threat for US, Europe and Asia signals higher winter energy bills
By Brian K Sullivan, Mary Hui & Joe Wertz
THE odds of extreme cold this winter in the US, Asia and parts of Europe are climbing, threatening to boost energy bills for consumers already grappling with high costs and economic uncertainty. With the season’s start just weeks away, meteorologists see many of the same conditions that led to one of the warmest winters on record last year for the Northern Hemisphere. But there’s one key difference: Signs are emerging that the polar vortex, the girdle of winds around the Arctic, could weaken and allow frigid air to spill southward.
A deep freeze would likely mean higher prices for power and natural gas, adding to the cost burden for ratepayers as inflation remains stubbornly high and major economies show signs of persistent weakness. In the US, a jump in power demand from data centers and artificial intelligence has sent wholesale electricity costs soaring—an increase that’s being passed on to consumers.
Winter is the most turbulent time of year for weather, said Jennifer Francis, a senior scientist at the Woodwell Climate Research Center. The fluctuating conditions have major consequences for a wide variety of markets and industries, from energy and transportation to retail. The Northern Hemisphere’s worst weather also arrives with a series of immovable deadlines, including Christmas and Lunar New Year, when planes, people
and cargo need to arrive on time.
“Further into December, keep an eye on the polar vortex,” said Dan Hart, a meteorologist at London-based OpenWeather Ltd.
Of course, there’s no guarantee that temperatures will plunge early enough in the winter to have a significant impact on energy demand. Last year, the polar vortex didn’t break apart until March.
But now, a set of winds called the quasi-biennial oscillation is blowing to the east. That movement may spark a phenomenon known as sudden stratospheric warming—a rapid, dramatic rise in temperature in a layer of the atmosphere—that ultimately leads to a weakening of the polar vortex, according to Judah Cohen, director of seasonal forecasting at Verisk Atmospheric and Environmental Research. If sudden stratospheric warming occurs earlier than it did last year, “that would have important implications for the overall winter weather,” Cohen said.
US chill FOR the US, winter will likely come in a bit cooler than normal and definitely colder than last year, said Matt Rogers, president of commercial forecaster Commodity Weather Group.
The northern tier of the country from the Pacific Northwest to central New England will likely be cooler than average, with the highest chance of below-normal temperatures in the northern Great Plains and Great Lakes, CWG predicts. The South will probably get near-normal or slightly warmer-than-average temperatures,
including Texas, which saw its power grid collapse in 2021 when a breakdown in the polar vortex unleashed a winter storm that killed more than 200 people.
There is a chance for more snow in the Midwest and Northeast this year, with the exception of large cities along the coast from Washington to New York, according to AccuWeather Inc.
Intense cold would also put some US winter wheat crops at risk. Plants can be damaged by frigid temperatures if they aren’t insulated under a layer of snow. This could cut yields early next year.
China gas threat LA NIÑA, a cooling of the Pacific
Ocean’s surface, could bring on a colder winter across many regions of China, which raises the risk of gas shortages, Morgan Stanley analyst Jack Lu wrote in a note to clients.
“As a result, gas consumption could spike along with gas price hikes for both wholesale and retail,” Lu wrote.
That lines up with China’s official winter forecast, which is predicting below-normal temperatures across the country’s south and northeast.
The similarities to last year’s weather map also raise the chances for a chill in southern Japan, while the north is milder and the west remains near average, according
to Emma Blades of New Zealand’s MetService, which provides data and analysis for power traders in Japan.
Those looking to hit Japan’s ski slopes this season can be cautiously optimistic. There’s potential for heavy snowfall and good snowpack development this winter on the Sea of Japan side of the country, which will also help fill hydroelectricity catchments, said Blades.
Europe cold risk
WHILE forecasters and major weather models are projecting a mild winter on average in Europe, there is growing evidence that the relatively temperate conditions could be punctured by frequent
cold spells this winter, especially in northern and central Europe.
A growing number of simulations from the European Centre for Medium-Range Weather Forecasts, which is widely considered to have the most consistently reliable global weather models, show that outcome. They’re projecting unusually weak high-altitude polar winds in November and December. European gas prices have swung in recent weeks as traders assess the potential intensity of the chill. While strong seaborne imports have helped to top up storage, a cold snap earlier in the heating season has already caused some countries to tap into inventories. Depending on the severity of the cold, it could pose a risk to winter-wheat crops in the European Union, one of the world’s biggest exporters of the grain. The crop lies dormant over the winter, but can lose some of its hardiness when temperatures frequently fluctuate and suffer damage during a deep chill.
“The odds are heightened” of that kind of polar vortex weakening this winter, said Rob Hutchinson, a meteorologist at Swissbased weather analytics firm Meteomatics AG. But he said the effect will depend on the timing and location of any frigid air that breaks free from Arctic latitudes— and if it can overcome other warm trends.
“We’ve always got the competing factor of global warming, and it’s just ever harder to get deep cold into Europe,” he said. With assistance from Megan Durisin Albery, Ilena Peng and Michael Hirtzer/Bloomberg
LUIZ INÁCIO LULA DA SILVA , center, poses for a family photo with leaders ahead of the COP30
conference in Belém on Nov. 7. DADO GALDEIRI/BLOOMBERG
SMB, TNT on streak mode
By Josef Ramos
REIGNING champion San Miguel Beer (SMB) recovered its bearing over the weekend as traditional Philippine Cup powerhouse while TNT Tropang 5G kept the solo lead in Season 50 Philippine Basketball Association’s all-Filipino action.
After a 0-2 start, the Beermen immediately buckled down to work and won four straight for a 4-2 record behind TNT’s 5-1 card and NLEX and and Rain or Shine’s 5-2 slate.
S an Miguel Beer is now on a mission with nine-time Most Valuable Player June Mar Fajardo, CJ Perez, Don Trollano and Juami Tiongson leading the charge.
“It was all about a wake-up call, there’s a sense of urgency and the pride of the players were challenged,” SMB coach Leo Austria told BusinessMirror on Monday, noting that they still practiced at the SMC Gym along Katipunan despite Typhoon Uwan’s wrath.
“Everybody wants to beat us in the all-Filipino and you just cannot rely alone on June Mar Fajardo. So, we must be ready at all times,” Austria said. “We must keep our winning habit each game and rely on our experience as well.”
He added: “We still have five more games left and we must do better, the players do not like to lose.”
Trollano had 29 points, Perez produced with 20 points with five steals and Fajardo tallied 18 points as the Beermen nipped Magnolia, 94-92, last Friday to go unbeaten in four games and share fourth to sixth places with Magnolia and Converge.
T iongson’s heroic came in SMB’s 96-90 win last November 2 over Converge where he posted all his 14 points in the fourth quarter.
“I’m very happy that we have beaten Rain or Shine, Ginebra, Converge and Magnolia, which all contenders,” Austria said. “We asked for three straight wins, but we got four.”
7:30 p.m. on Wednesday against Titan Ultra at the Ynares Center in Montalban.
TNT Tropang 5G also mounted its own four-game winning streak capped by scary 109-95 overtime win over Terrafirma also last Friday behind Kelly Williams’s 28 points for a front-running 5-1 card.
D espite the streak and the solo lead, TNT coach Chot Reyes reminded his players not to relax in any of their next four games.
“Cautious,” Reyes told BusinessMirror o n Monday through a text message, noting that they cannot be carried away despite losing only once
so far—77-92 to to Barangay Ginebra San Miguel last October 15.
“It could have been 3-3 so we must be careful and not be carried away,” he said.
Meralco is in seventh place with a 3-4 record, followed by Ginebra (2-3), Titan Ultra (2-4), Terrafirma (1-5), Blackwater (1-5) and Phoenix Super LPG (1-5).
Meanwhile, Blackwater’s Sedrick Barefield led the scoring department after five games with 23.8 points per game despite a shoulder injury—the Bossing, however, couldn’t stop the bleeding in five games.
Sports BusinessMirror
B8 Tuesday, NovemBer 11, 2025 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
ORGANIZERS have elevated the Third FIG Artistic Gymnastics Junior World Championships by producing a music video of the competition’s catchy and captivating official theme song “Going for Gold” to keep with the millennial vibe and beat.
Sun day’s games between TNT and Magnolia and Ginebra and Titan Ultra in Montalban were canceled because of the typhoon.
the open section of the Sixth ASEAN Individual Chess Championships-Governor Henry Oaminal Cup at the Asenso Misamis Occidental Resort and Aquamarine Park in Ozamiz City on Sunday. The reigning Philippine junior champion and Asian juniors rapid king was unflinching against the Russian’s ploy by using a rarely-used opening line and when the smoke of battle dissipated, he was a queen up for a full point and the title. “I just played my game and took it as an opportunity, good thing I won,” said Nouri, who will turn 20 on December 12. Nouri actually ended up tied at No. 1 with Grandmaster Daniel Quizon on 8.0 points but had a higher tiebreaker to claim the gold medal.
ALEKHINE NOURI proudly poses with his trophy.
In terestingly, Nouri stunned Quizon when they faced off in the seventh round.
Q uizon, who beat IM Christian Gian Karlo Arca in 47 moves of a King’s Indian Attack, settled for the silver medal.
In donesian GM Novendra Priasmoro turned back newlyminted IM Mark Jay Bacojo in 31 moves of a Sicilian for the bronze medal with 7.0 points.
Performed by the popular KO Jones rock band, with music and lyrics by band guitarist Warren Norton— son of Gymnastics Association of the Philippines (GAP) president Cynthia Carrion—the upbeat music video vividly captures what the elite meet for young gymnasts from all over the world is all about.
Hotel Grand Ballroom inside the Newport World Resorts in Pasay City.
As far I know this is the first time that an international FIG competition has had a theme song and music video, to boot, setting ours a cut above the rest,” she said with pride of the vibrant theme song of the gymnastics showcase supported by the Office of the President, Philippine Sports Commission and the Philippine Amusement and Gaming Corp.
gymnastics meet San Sebastian’s de la Rama churning in big games in NCAA 101
SIn th e women’s side, Woman GM Janelle Mae Frayna got the bronze medals in rapid and blitz while Woman FM Allaney Jia Doroy grabbed the blitz silver. R ussian WFM Anna Zhurova ruled the women’s rapid while Vietnamese WIM Nguyen Hong Anh grabbed the blitz gold. Topping the men’s rapid side was Vietnam’s IM Nguyen Quoc Hy.
Defense, sports arms show back at original home - Megatrade Hall Nouri gets job done vs Russian, bags blitz crown
THE Defense and Sporting Arms Show (DSAS) Part 2 returns to its original home—the Megatrade Hall at SM Megamall—for the last gun show of the year from November 18 to 21, according to the Association of Firearms and Ammunition Dealers of the Philippines Inc. (AFAD). After a successful mid-year edition at the SMX Convention Center in Pasay City, DSAS concludes 2025 with an event that highlights the best of the local firearms community–bringing together trusted dealers, hobbyists, collectors and advocates of responsible ownership in a more personal and engaging setting. This year’s show is more than an exhibit, it is a celebration of community and progress,” AFAD Spokesperson Aric Topacio said. “We’re proud to see more Filipinos embracing responsible firearm ownership and viewing shooting as part of a disciplined, active lifestyle. DSAS continues to be where passion and responsibility meet.” More
“I asked my son Warren if he could come up with a theme song for the junior worlds. Without a second thought, he came up with it at once,” Carrion noted of the theme song of the event opening on November 20 at the Manila Marriott
R eleased to the public for the first time on the GAP Facebook account Tuesday, the close to threeminute music video soars at once with the attention-getting intro “Fly like a champion, uh…oh oohh, Fly uh oh oooh…” The full music video can be seen on this link: https://www.facebook.com/ reel/1167507908667128.
T he bouncy and lively opening is spliced with scenes of Paris Olympic double gold medalist and newlycrowned world vault champion Carlos Edriel Yulo in action in various successful international forays that gave pride and glory to the country. The inspirational opening verse— “Welcome to the world stage, Lights are burning bright, Young hearts rising, Ready for the fight, 80 flags are flying, Gold is on the line Flip flying landing This is your time”—captures the aspirations and ideals of those who will be vying in the meet. This prime motivation for the young gymnasts to shine continues in the chorus with lyrics they can identify with: “F ly like a bird and let it go, Spin through
National Collegiate Athletic Association Player of the Week award presented by the Philippine Sports Commission. De la Rama first lifted San Sebastian to an emotional 82–81 escape over his former team Letran on October 29.
T he ex-Squire delivered the game-winner with three seconds left, sinking a tough shot over the arms of Mark Omega to end both the Stags’ five-game skid and the Knights’ five-game winning streak. He finished with 20 points, seven rebounds, two assists and two steals in the upset win.
After a short break, the 6-foot-2 Leyte native continued his onslaught and steered the Stags past Group A leader Perpetual, 62–61—the glass cleaner tallied a double-double of 15 points and 10 rebounds with two assists to match.
Much like he did against Letran, de la Rama provided a crucial insurance basket to put Baste in the driver’s seat, 62–58, with 48.1 seconds left, enough cushion to seal the win.
“I ’m just doing the job and the trust they have in me,” the young bruiser said. “My teammates are never selfish, they give me the ball at every opportunity.”
The back-to-back wins improved the hungry San Sebastian squad to a 3-7 win-lost record, keeping their hopes alive for a twice-to-beat incentive in the latter stretch of the elimination round.
40 top exhibitors will showcase the latest in locally manufactured and imported firearms, ammunition, optics and accessories. Visitors can also take part in seminars and workshops on responsible ownership, safe handling and maintenance and offering valuable insights for both first-time buyers and seasoned collectors.
L aw enforcement agencies will be on-site to assist attendees with License to Own and Possess Firearm and Firearm Registration processes. A FAD continues its close collaboration with Philippine National Police, ensuring that DSAS remains a one-stop venue for responsible and legal firearm ownership. A mong the participating exhibitors are PB Dionisio & Co. Inc., Squires Bingham International, Twin Pines Inc. (Tactical Corner), Hahn Manila, Stronghand, Armscor Shooting Center, Espineli, Topspot Guns, and many others representing the best of the
By Ashley J. Manabat
CLARK Freeport—The creation of the National Sports Tourism Inter-Agency Committee (NSTIAC) has marked the government’s formal recognition that sports and travel—when working in synergy—can help move the country forward.
C harles Lim, president and chief executive officer of Sports Turismo Alliance (STA), said this development is more than policy as it is the realization of a long-advocated effort that has spanned two decades.
“ This is super beneficial to us because there are certain countries that are doing very well,” Lim said in an interview at the 2025 STF held in Clark Freeport recently. Organizers became professional in technical standards, organizing standards,” he said. “They also took in cultural, heritage, and hospitality components.”
The formation of the NST-IAC
through Administrative Order No. 38, signed by President Ferdinand Marcos Jr. on October 29, formalized what Lim and his partners have long envisioned to manage, promote, and implement sports tourism initiatives nationide.
Un der the order, Philippine Sports Commission chairman John Patrick “Patò” Gregorio serves as NSTIAC chair, with Tourism Secretary Christina Frasco as vice chair.
T he Departments of the Interior and Local Government and Budget and Management, along with the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and the Philippine Amusement and Gaming Corp. serve as members. Lim first began championing sports tourism in 2004 through his public relations firm, Selrahco. That same year, he launched the inaugural Sports Tourism Forum (STF) which pioneered a series of workshops that brought together local government officials, sports associations and tourism
stakeholders to make every game, race, or tournament a destination experience. Lim explained that hosting a marathon, a triathlon or a regional meet should also be measured by how it drives the local economy
