HE Energy Regulatory Commission (ERC) has set the 2025 to 2027 market transaction fees (MTF) for Independent Electricity Market Operator of the Philippines (IEMOP), operator of the wholesale electricity spot market (WESM), and the Philippine Electricity Market Corp. (PEMC), the governing body of the spot market, at P3.307 billion.
Market fees represent the cost of administering and operating the WESM.
Of the total amount, IEMOP’s budget is P1,879,735,690.40 while PEMC’s share is at P1,427,101,813.11. The total indicative rate for both entities is P0.0071 per kilowatt hour (kWh) or P0.0040 per kWh for IEMOP and P0.0031 per kWh for PEMC.
The amount will also fund their
capital expenditures (capex), including critical IT and cybersecurity upgrades, and other operating expenses.
Under Section 30 of Republic Act 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA), the cost of administering and operating the WESM is recoverable through the market fee to be approved by the ERC and collected from the power generators transacting in the WESM.
The fees are being collected from all market participants, such as power generation companies (gencos), Power Sector Assets and Liabilities Management Corp. (PSALM), distribution utilities (DUs), and bulk end-user.
Unlike recent years, the ERC has proactively approved a fixed market fee rate for the 2026-2027 fiscal cycle. This advance notice, the ERC said, facilitates superior budget planning and imple-
mentation by IEMOP and PEMC, resulting in greater operational efficiency.
“The approved market fee ensures a reliable and transparent WESM. This provides cost predictability for generators and guarantees the integrity of WESM’s critical functions like pricing, settlement, and data reporting. The ERC’s decision also promotes price stability and reliable electricity delivery.
By structuring the budgets of IEMOP and PEMC, the ERC ensures that fees are cost-reflective and that spending is prudent, upholding its commitment to consumer protection,” the ERC said.
IEMOP President Robinson Descanzo said the ERC decision on a threeyear market fee will afford a predictable level and flexible use of budget to effectively sustain and improve market operations.
“It will provide better certainty in
terms of availability of funds for intended programs and projects over a longer horizon, as well as greater degree of flexibility to align with the goals set under their respective strategic planning activities and be better equipped to face the challenges of a highly dynamic electricity market,” he said when sought for comment. He added that this will enable the market operator to implement a continuous maintenance plan, funded by the market fee, to ensure stable and high-performing market systems. “The three-year market fee is likewise beneficial to the stakeholders, as it enables them to consider such charge in their financial planning and promote efficiency in their operations, particularly on the aspect of spending, which will ultimately benefit the consumers,” the IEMOP official said.
JITTERS, TRADE GAP CITED
By Reine Juvierre S. Alberto
to-date deficit.
By Andrea E. San Juan @andreasanjuan
We want really those responsible to be punished and to be identified, and the only person that can really do that by appointing those that are really into it and addressing it is our president,” Philippine Chamber of Commerce and Industry (PCCI) President Enunina Mangio told reporters on the sidelines of the 51st Philippine Business Conference and Expo on Monday in Pasay City. Mangio said this after over 30 business groups made an appeal to Marcos through a joint statement issued on Sunday to address, without delay, the corruption scandal “crippling” flood control and infrastructure
By Lorenz S. Marasigan
THE Department of Public Works and Highways (DPWH) will completely abolish the so-called “allocable” and “non-allocable” budget formulas as part of a major overhaul aimed at making infrastructure spending “more transparent and responsive to actual community needs.”
Public Works Secretary Vince Dizon told senators on Monday that the agency is “changing the entire process” by which infrastructure projects are planned and funded, beginning with the fiscal year 2027 budget cycle.
“We are completely scrapping the formulas initially explained to the committees on finance and blue ribbon committee on allocable and non-allocable,” Dizon said. “We will simplify the formulas and process by which projects get to the NEP
[National Expenditure Program].
We will change that completely for 2027.”
Under the current system, allocable funds are distributed to DPWH district engineering offices using a “parametric formula” to determine each district’s budget ceiling.
Non-allocable funds, meanwhile, cover big-ticket projects outside district allocations—including foreign-assisted programs, right-ofway acquisitions, and equipment procurement.
While designed to ensure equitable regional distribution, the formula-based approach has been criticized for being opaque and difficult to audit. Lawmakers have raised concerns about overlapping projects and questionable fund allocation, prompting the administration’s decision to scrap the system entirely.
Dizon said the new budgeting process will ensure that “the planning and
budgetary process is clean and transparent and will reflect the needs of the districts, provinces, and regions.”
The public works chief also acknowledged several “red flags” raised by Senator Win Gatchalian, who listed projects that were “duplicated” from the General Appropriations Act (GAA) of 2025 and the NEP of 2026.
Gatchalian said he observed 6,187 red flag projects with a total cost of P271 billion. These include projects with “no station numbers, duplicates, multiple phases, and reappearing projects.”
Dizon agreed that these should be removed, pending validation and confirmation. He noted, however, that in the future, it is “important to include a level of detail on the projects listed” in the future NEP.
He noted that the budget reforms, which will be led by new Public Works Undersecretary Nick
Conti, “will not be quick and easy because we have a lot to fix.”
This comes as the agency slashed its proposed NEP allocation by 29 percent to P625.78 billion for 2026, removing flood control projects from the proposal.
Dizon added that the agency also removed duplicate and completed projects, eliminated overlapping road sections, and scrapped small or questionable allocations such as rock-netting, cat’s-eyes, and road stud installations.
Beyond restructuring the budget process, Dizon said the agency will also review and standardize material costs—a move aimed at preventing overpricing and ensuring competitive procurement.
“We are reviewing the cost of materials. We will publicize this in the coming weeks,” he said, adding that this problem has already been “decades long.”
while also rethinking the country’s long-term economic direction.
“[The] government needs to be proactive by preparing assistance to firms and especially workers who have less resources to cope with economic crisis.”
“In the immediate, there must be programs in place to transition affected workers, from social security and emergency work to job reskilling,” he said.
He added that the country should eventually shift from an exportdriven model to one that builds domestic demand through industrial policy and asset redistribution in the long term to build resilience against global trade disruptions.
“High wages are a disadvantage for commodity exporters but a boon for domestic producers since it creates high demand,” he explained.
Marriott report: PHL a rising culinary hotspot in Asia
By Ma. Stella F. Arnaldo Special to the BusinessMirror
THE Philippines has been included among Asia-Pacific’s “next culinary hotspots,” cited for its local and foreign initiatives to introduce Filipino cuisine to mainstream markets.
The Future of Food Asia Pacific 2026 report of hospitality chain Marriott International pointed to the Department of Tourism’s (DOT) “sponsorship” of the Michelin Guide for Philippine restaurants, and the country’s hosting of the first Terra Madre Asia & Pacific slow food initiative in November.
Continued from A14
part of the AnCEF fund just to get at least one [Cefa] started.”
President Ferdinand R. Marcos Jr. recently signed Republic Act (RA) 12308 or the Animal Industry Development and Competitiveness Act.
The new law creates a 10-year fund dubbed the AnCEF, which would consist of tariffs collected from imported livestock, poultry, and dairy products.
“A diaspora of influential Filipino chefs is also shining a spotlight on the rich culinary heritage of their homeland,” the report added, citing Chefs Ross Magnaye (Serai) in Melbourne, Aisha Ibahim in Seattle, Kasama restaurant in Chicago, and Lord Maynard (Kuya Lord) in Los Angeles. Other culinary hotspots named were Indonesia, Vietnam, and mainland China.
The report was based on a survey of Marriott International food and beverage (F&B) teams in 270 properties across 20 Asia-Pacific markets, which was completed in July 2025.
Social media is key THE report said 100 percent of re-
spondents in the Philippines said their guests find out about new F&B outlets via social media, much higher than the regional average of 75 percent. Singapore came in second at 88 percent, and Malaysia in third, at 84 percent.
Still, once they’re in the restaurants, most guests across the region, at 92 percent, “order dishes that are recommended by staff or chefs,” although a sizeable number, at 85 percent, also “order dishes that are beautifully plated and ‘Instagrammable,’ while 64 percent order a dish or drink that has become popular because of social media.”
The report also noted changing dining preferences of guests, with 59 percent saying their guests prefer quick, casual dining; 53 percent, ala carte instead of a set menu; and 29 percent, more comfort food. Fifty-seven percent of respondents said guests also chose local Asian cuisine over international cuisine, with the Philippines registering among the highest at 67 percent.
The Philippines ranked first among countries whose guests “enjoy experience-based dining,” at 67 percent, higher than the regional average of 52 percent, while only 33 percent “seek interactive dining experiences,” with the country ranking last in the region. Thirty-three percent of Philippine respondents said their guests “enjoy celebrity chef concepts or collaborations,”
slightly surpassing the 31-percent regional average.
On the part of chefs, many in Asia Pacific have gone beyond the usual condiments of soy sauce and fish sauce, and are “now diving deeper into global traditions of fermentation to unlock striking, complex flavors.” The report cited sawsawans (Filipino dipping sauces) among the next “umami bombs,” in particular, “artisanal vinegars like Sukang Tuba (made from sap of coconut trees) or Sukang Paombong (from nipa palm sap) make for dipping sauces for grilled meats and marinade for raw fish kinilaw.”
Sustainability trailblazers
ASIDE from Asian vinegars, the report also recognized artisanal salts and heritage rice in the region as other emerging ingredients, which include the Asin Tibuok from Bohol, and the Adlai grain, which “[touts] more protein and fiber, making it an excellent rice substitute.”
Meanwhile, the report showed how sustainability has also become a common interest among
diners in the region. “According to a recent survey of Marriott International’s F&B teams across Asia Pacific, 75 percent reported that guests either frequently or sometimes asked about the origin of ingredients. An additional 58 percent said their customers frequently or occasionally inquire about the sustainability practices of their F&B operations.”
It also elevated two trailblazers in Asia—Ramon “Chin-Chin” Uy Jr. from the Philippines and Helianti Hilman of Indonesia—“who are taking a grassroots approach to sustainability, building social enterprises that uplift their communities from the ground up.”
Uy was cited for being “instrumental” in developing Negros Occidental as a sustainable food hub, “giving locals access to organically grown products and reducing their reliance on chemical fertilizers.”
He chairs the Terra Madre Asia & Pacific executive committee, which is organizing the event scheduled on Nov. 19-23 in Bacolod. (See, “PHL putting its best foo(d) forward for Terra Madre,” in the BusinessMirror, July 21, 2025.)
September 2025. This amount is lower than the $3.5 billion surplus posted in September 2024 and $359 million in August 2025. The surplus trimmed the year-to-date deficit to $5.3 billion as of end-September, from $5.4 billion in end-August. According to the central bank, the surplus reflected the BSP’s net income from its investments abroad and the national government’s net foreign currency deposits with the BSP.
“Preliminary data indicate that the year-to-date BOP deficit was largely due to the continued trade in goods deficit,” the BSP said, citing data from the Philippine Statistics Authority’s (PSA) International Merchandise Trade Statistics.
This was partly offset by the sustained net inflows from personal remittances from overseas Filipinos, trade in services, foreign direct and portfolio investments and foreign borrowings by the national government, the BSP added.
The trade deficit for January to August 2025 settled at $32.4 billion, down from the $34.3 billion deficit posted in January to August 2024, according to PSA.
According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, the local political noise led to some market volatility and may have affected capital flows.
The so-called “Trump risk premium”—or the global market volatility linked to US trade and fiscal policies— continued to weigh on investor sentiment, Ricafort added.
late this year.
Payumo first broached the idea for the BCIB as Bataan representative in 1987, calling it “Trans Manila Bay Crossing.” As SBMA chair Payumo later tried to realize the proposed bridge-tunnel system, attracting at least two Japanese firms to present feasibility studies for the project, but this did not push through.
protect government transactions from tampering or erasure.
DICT Secretary Henry Aguda said blockchain’s strength lies in its design: data stored on the chain cannot be altered or deleted, creating a permanent, verifiable record of transactions. (See: https://businessmirror.com. ph/2025/09/30/dict-blockchaina-weapon-vs-corruption/)
Digital transformation
MEANWHILE, with the theme “The Future is Now: Unleash the Power of Digital Transformation,” Mangio highlighted the challenge for Philippines to position itself at the forefront of “digital transformation.”
The head of the largest business group in the Philippines pointed
Payumo again pitched for the BataanCavite bridge link in 2016, citing it as a practical means to decongest traffic in Metro Manila, while opening up new economic opportunities in Bataan, Cavite and nearby areas. In 2003, Payumo received The Outstanding Filipino (Tofil) award, which recognizes remarkable Filipinos aged 41 and above, whose integrity, excellence, and service have made a lasting mark on the country.
out that the country’s neighbors are “moving decisively.”
She said the competitive landscape is “rapidly intensifying,” underscoring that the Philippines may possess “significant” advantages but “advantages unexploited become opportunities squandered.”
As such, Mangio said the country must address data sovereignty, cybersecurity, and private protection “with rigor.”
To adapt with technological advancements, the PCCI chief said the country must confront technological displacement in labor markets and develop “comprehensive” strategies for workforce adaptation and social protection.
“We must establish regulatory frameworks that foster innovation while safeguarding the public interest. We must ensure that digitalization benefits are broadly distributed, not concentrated among a privileged minority,” Mangio said.
to conduct a swift, comprehensive investigation, free from political influence.”
This was on top of the list of the groups’ proposal.
projects in the country.
“That’s why we’re calling the attention of our President to be decisive and to really give power to the ICI in addressing this and identifying those that are guilty,” the PCCI chief said during the interview on Monday.
While several names were already dropped during the investigation on the anomalous flood control projects, Mangio said “We feel there are still some that have to be identified.”
To fast-track the process of going after the culprits behind the flood control mess, Mangio underscored the need to give legal authority to the Independent Commission on Infrastructure (ICI). Currently, she explained that the ICI has not yet earned the power to prosecute.
In a statement issued on Sunday, 34 business groups said: “We therefore urge His Excellency to immediately and transparently adopt the following measures: Empower the ICI with full legal authority and independence
The business groups said this as they pointed out that the corruption which stemmed from flood control projects is more than financial loss. Rather, they said it is a “fatal breach of public trust that leaves our people vulnerable and outraged.”
They also called this a “crisis” that has eroded public trust and now threatens the country’s national security.
However, on the calls for the President to step down from his position amid the flood control mess, Mangio said Marcos “doesn’t need to resign because we can see his seriousness in addressing this.”
“And remember, he was the one who brought this up,” the PCCI chief pointed out.
She explained that the clamor for Marcos to resign has prompted the business groups to release the said statement, adding, “We are trying to prevent aggressive actions to take place.” (See: https://businessmirror.com.
Moreover, the BOP position aligned with the growth in the country’s gross international reserves (GIR), which rose to $109.1 billion as of end-September 2025 from $107.1 billion as of end-August 2025.
GIR comprises foreign-denominated securities, foreign exchange and other assets, including gold, helping the country finance its imports and foreign debt obligations, stabilize its currency and provide a buffer against external economic shocks. The BSP said the current reserve level remains adequate, equivalent to 7.3 months’ worth of imports and payments for services and primary income.
“Specifically, the latest GIR level ensures availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans,” the BSP noted. Further, the GIR covers about 3.8 times the country’s short-term external debt based on residual maturity. The BSP explained that short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on mediumand long-term loans of the public and private sectors falling due within the next 12 months.
“The smaller BOP surplus reflects fewer one-off inflows and a still-wide trade gap, but the external position remains manageable with steady remittances, strong services exports and solid reserves,” SM Investments Corp. Chief Economist Robert Dan Roces said. Roces said investment inflows may resume and boost liquidity and credit conditions as global rates ease and regional demand recovers. This should benefit firms with deep local roots and diverse sources of growth, he added.
Surplus to be sustained in Q4—Taningco MEANWHILE, Security Bank Chief Economist Angelo Taningco said the BOP surplus in September was likely supported by net receipts in services trade, overseas remittances and net foreign equity investments, which together overshadowed trade-in-goods deficit and net foreign bond outflows.
“For the last three months of the year, we expect BOP surplus to be maintained with our full-year BOP deficit forecast pegged at $4.5 billion,” Taningco added.
In the coming months, Ricafort noted that although oil prices have declined and the peso has steadied, higher import demand toward yearend may widen the trade deficit and weigh on the country’s BOP.
“Further/sustained growth in the country’s structural US dollar inflows would lead to better data for BOP,” Ricafort added.
Economy
Solon on unprogrammed appropriations: Do not handcuff government
By Jovee Marie N. dela Cruz @jonlmayuga
THE House of Representa -
tives is open to discussions with the Senate on rationalizing the P243 billion worth of unprogrammed appropriations (UA) in the proposed 2026 national budget and is not insisting on retaining the full amount, House Committee on Appropriations chairperson and Nueva Ecija Rep. Mikaela Angela Suansing said on Monday. In a media briefing, the House Committee on Appropriations chairperson, Nueva Ecija Rep. Mikaela Suansing, emphasized that while the House is willing to reduce or adjust certain items, some key programs under the UA must be retained to ensure operational and fiscal stability.
But she warned against reducing UA in the 2026 national budget to only foreign-assisted projects (FAPs), stressing the need to retain critical programs and maintain flexibility for emergencies.
Her remarks came after Senate President Vicente Sotto III and Senate Finance Committee Chairman Sherwin Gatchalian indicated their intent to retain only the FAPs under the unprogrammed funds.
“So out of the P243 [billion], this is just a very rough estimate. It’s a little difficult to commit at
the moment because we need to have ongoing discussions with the Senate. But we definitely have to retain the P133 billion under FAPs. Even if not the full amount, it’s hard to commit to the exact figures because we need to review it,” Suansing explained.
Essential allocations
SHE also highlighted other essential allocations, including the Armed Forces (AFP) Modernization Program, budgetary support to government-owned and -controlled corporations (GOCCs), the Marawi Siege Victims Compensation Program, and insurance premiums for unforeseen circumstances.
“Even if it’s not the whole amount, we need to put some on standby. What else can we reduce?
The Marawi Siege Victims Compensation Program—we hope to keep that because it has been a longstanding program, and the assistance and compensation for all the victims of the Marawi Siege have not been fully completed. And for insurance premiums, even if they’re not comfortable with the full P2 billion, we need to reserve some just for unforeseen circumstances. I apologize for not being able to provide a specific number, but those are the items we can explore,” she said. She said projects under FAPs
will remain to honor the Philippines’ commitments to foreign and multilateral partners such as the World Bank, Asian Development Bank (ADB), and Japan International Cooperation Agency (Jica). Foreign-assisted projects account for P133.1 billion, or more than half of the total unprogrammed funds.
“Honestly, my concern is if we wipe out everything under unprogrammed appropriations, particularly those under Strengthening Assistance for Social Programs, we lose the flexibility to respond. If a major calamity or a national health emergency happens, and we do not have a legal basis to fund these items, we won’t be able to act,” she said.
Suansing cited examples of past emergencies where UA was crucial. “Just this year, we tapped around P5 billion to respond to typhoon and earthquake victims in Masbate, Cebu, and Davao. During the Covid-19 pandemic, unprogrammed appropriations were the first funds tapped to assist health emergency practitioners and frontliners,” she said.
She also explained that while the National Disaster Risk Reduction and Management Fund (NDRRMF) holds roughly P30 billion for calamities, its use is limited to specific programs managed by the Office of Civil
Defense (OCD). “We lose flexibility if we rely solely on that. The UA allows the government to respond quickly to unforeseen circumstances,” Suansing said. She clarified that she is open to reducing UA allocations but emphasized the importance of retaining provisions that are essential. “My take is, I am very much open to reducing unprogrammed appropriations, but we should retain the purposes that are really needed,” she said.
She also noted that reforms have been put in place to prevent misuse of UA funds, including reallocating P35 billion from the controversial Strengthening Assistance for Government Infrastructure and Social Programs (Sagip) item to the Government of the Philippines’ counterpart for FAPs, which covers projects such as the Metro Manila Subway, North-South Commuter Railway, and Cebu Bus Rapid Transit.
Under the 2026 National Expenditure Program (NEP), the Sagip fund was originally allocated P80.86 billion, but this has been reduced to P45 billion following the removal of infrastructure projects. With this adjustment, the fund will now be renamed Strengthening Assistance for Government Programs (SAGP) to reflect its exclusive focus on social programs.
House Appropriations panel chief assures no pork in 2026 natl budget
THE chairperson of the House of Representives Committee on Appropriations on Monday assured the public that the 2026 national budget contains no pork barrel funds, emphasizing that all appropriations were itemized, transparent, and free from post-enactment congressional intervention.
Nueva Ecija Rep. Mikaela Angela B. Suansing made the assurance following persistent claims from the chamber’s Makabayan bloc and some civil society groups that the national budget allegedly contains more than P600 billion in pork barrel-type allocations.
“We assure the public that there are no pork barrel allocations in the 2026 budget,” Suansing said in a news conference.
“The programs often cited—such as AICS [Assistance to Individuals in Crisis Situations] under DSWD [Departmet of Social Welfare and Development], MAIP [Medical Assistance to Indigent Patients] under DOH [Department of Health], and Tupad [Tulong Panghanapbuhay sa Ating Disadvantaged-Displaced Workers] under DOLE [Department
1+1=11
By Henry J. Schumacher
ALLOW me to introduce The Culture of Networking. Networking is so important for the future of leaders, of employees, innovators, and of people who want to create change.
The new style of professional networking is more casual, relational, and global than previous generations, focusing on skill sets rather than job positions. That’s helping us build networks quickly and with little pressure.
Small talk updates
LET’S remake networking for the digital age. Here are some trends:
n Young workers are focused more on peer-to-peer networking than peer-to-mentor networking, opting
of Labor and Emplooyment]—are all implemented directly by their respective agencies. Congress has no post-enactment role in how these are implemented,” she added.
Suansing clarified that once the General Appropriations bill is enacted into law, the authority and discretion to disburse funds rest solely with the implementing agencies—not with lawmakers.
“Congress never engages in post-enactment interventions,” she said. “Each agency has its own guidelines and internal procedures for releasing funds. There are no lump-sum appropriations, no hidden funds, and no embedded projects.”
She underscored that the 2026 national budget is fully itemized, detailing all allocations to ensure transparency and accountability in government spending.
Suansing assured that the proposed national budget for 2026 will be transparent, corruptionfree, and responsive to the needs of Filipinos.
She emphasized that Congress remains committed in ensuring that every peso in the 2026 budget
will directly benefit the people and address the country’s most urgent priorities.
“The assurance that we can give to our fellow Filipinos is that our budget for 2026 will truly respond to the needs of our people and our nation. It will be clean, it will be transparent, and most importantly, it will be a budget that our citizens can trust,” Suansing said.
She underscored that transparency and accountability will remain at the core of the budget process, ensuring that funds are allocated efficiently and free from misuse.
The Makabayan bloc earlier rejected the approval of the proposed P6.793-trillion General Appropriations Bill (GAB) for 2026, denouncing it as a continuation of the “corrupt pork barrel system” despite the ongoing trillion-peso flood control scandal.
According to the bloc, the “presidential pork” alone amounts to P281 billion, including P243 billion in Unprogrammed Appropriations—a funding mechanism that ballooned in previous years and
allegedly became a major source of funds for ghost and overpriced projects.
They added that the P10.9-billion Confidential and Intelligence Funds (CIF) remain “grotesquely inflated,” with the Office of the President keeping the largest share at P4.5 billion, while the NTFELCAC’s P8.08-billion Barangay Development Fund also remains intact.
Makabayan also alleged that P415 billion constitutes “legislative pork,” coursed mainly through the Department of Public Works and Highways (DPWH) and other agencies.
The bloc said that through the DPWH’s district offices, P174.6 billion will be distributed as “allocables,” roughly P230 million per congressional district and P3.2 billion per senator.
Other allocations allegedly open to congressional discretion include P32.6 billion for farm-tomarket roads, P35.1 billion for school buildings, P20.2 billion for health facilities, and P9.6 billion for irrigation projects.
Jovee Marie N. dela Cruz
Suansing explained that unprogrammed appropriations serve as standby funds that can be tapped if excess revenues become available.
The 2026 budget authorizes eleven specific purposes, including social programs, budgetary support for government-owned and controlled corporations, foreign-assisted projects, risk management, AFP modernization, and local government shares.
No backdoor
SUANSING, meanwhile, dismissed claims that UA in the 2026 national budget could serve as a “backdoor” method to fund locally financed infrastructure projects, including flood control initiatives.
The statement came in response to concerns raised by Party-list Rep. Antonio Tinio of ACT Teachers, who said there is a remaining P4.9 billion in the capital outlay and a provision in the UA that allows the Department of Budget and Management (DBM) to reallocate funds from other UA sources. Tinio had sought to remove the provision, but it was not approved.
Suansing clarified that while there is a special provision permitting the DBM to approve specific disbursements and make reallocations, strict safeguards have been put in place to prevent misuse.
“There are two aspects in that special provision that Represen -
tative Tinio was referring to. The DBM is authorized to approve a specific disbursement and, secondly, to reallocate funds. But if the concern is a backdoor method for funding locally funded infrastructure projects, especially flood control projects, that is no longer allowed,” Suansing explained. She emphasized that under the current rules, UA funds cannot be used for locally funded projects such as flood control. The only infrastructure projects eligible for funding under UA are those classified as foreign-assisted projects, particularly under the Department of Public Works and Highways (DPWH) and the Department of Transportation (DOTr).
“So even though DBM has the power to reallocate, the safeguards we have put in place prevent these funds from being used for locally funded projects. This was also highlighted during plenary deliberations to ensure the funds will not be abused. There is no backdoor way for locally funded projects to enter these appropriations,” Suansing said.
The House Appropriations Chair stressed that these measures aim to maintain transparency and proper utilization of unprogrammed funds while ensuring that critical foreign-assisted infrastructure projects continue to be supported.
Marcos seen to issue new order on rice importation
PRESIDENT Marcos is expect-
ed to release the new order on the proposed extension of the suspension of rice importation by the first week of November.
The Cabinet-level Tariff and Related Matters Committee of the Economy and Development (ED) Council met last week to discuss its position on the extension of the rice import suspension as well as the proposal to set a farmgate price for palay or unmilled rice.
“They will give their recommendations [on these matters] to the ED Council. Let us see what their recommendation will be,” Palace Press Officer Claire Castro said in a press briefing on Monday.
In August, Marcos issued Executive Order 93 imposing a 60day suspension on rice imporation upon the recommendation of the DA to help stabilize the domestic price of rice during the harvest season.
The suspension took effect in September and will end on November 2.
The Department of Agriculture (DA) earlier said it is pushing to
to make “internet friends” who can grow professionally alongside them.
n Professional networking follows the same rules as social networking— a mix of informal engagement with posts and content creation.
n Networking is now borderless and not bound by time zones, thanks to the rise of digital communication and global social platforms.
But one of the biggest changes is that networking is to be done constantly, It has to become a daily practice.
Data-Driven Networking PROFESSIONALS are using data and analytics to inform their networking strategies. They track the success of their networking efforts, measure engagement, and
adjust their approaches based on quantifiable results.
Adaptability and Continuous Learning: NETWORKING culture encourages adaptability and a commitment to lifelong learning. Staying updated with industry trends and technological advancement is crucial for maintaining relevant connections.
Balancing Digital and InPerson Interactions:
STRIKING a balance between online and in-person networking has become important. While digital platforms offer convenience and reach, face-to-face interactions provide a depth of connection that is hard to replace virtually.
Inclusive Networking Spaces:
THERE is a growing recognition of the importance of creating inclusive spaces where professionals from different backgrounds, genders, ethnicities, and cultures can connect and thrive together.
Focus on Skill-Based Networking
NETWORKING is not only about exchanging business cards or contacts, but also about sharing knowledge and skills. Professionals seek to connect with others who can offer unique insights, expertise, or collaborative opportunities.
Informal Networking Opportunities:
FORMAL networking events are supplemented by informal gather -
ings, such as meetups, workshops, and social events. These provide more relaxed environments for building relationships.
Mentorship and Reverse Mentorship:
MENTORSHIP has become a key component of networking, with experience professionals offering guidance to younger or less experienced individuals. Additionally, reverse mentorship has gained traction, where younger professionals bring fresh perspectives to their senior counterparts.
extend the suspension until the end of the year to keep the price of the local food staple stable. However, this was before the country was hit by recent typhoons and the southwest monsoon, which has now resulted in P7-billion worth of damages to agriculture, according to DA. As of Sunday, DA’s price monitoring in select markets in Metro Manila showed that the price of well milled imported commercial rice was at P42 per kilogram (kg) and regular milled was at P38.29 per kg. Local well milled at P43.15 per kg and regular milled P37.08 per kg.
Marcos also earlier said that he is considering coming out with a new EO to set a floor price for the buying of palay or unmilled rice to protect farmers from unscrupulous traders. Based on the latest data of the Philippine Statistics Authority (PSA), the farmgate price for paddy rice was at P12.79 per kilogram (kg), which is 38.2 percent lower compared to the P17.06 per kg in the same period in 2024. Samuel P. Medenilla
These culture changes in networking reflect the dynamic nature of professional relationships and the evolving expectations of professionals in today’s interconnected world. embracing these shifts can lead to more meaningful and fruitful networking experiences. If I look at my professional life, networking has been the driver to succeed. I wish you the same. In conclusion, making 1+ 1 = 11 work, I recommend six approaches to net positive partnerships with varying and expanding partners:
1 Within your value chain
2 Within your industry
3 Across sectors
4 With civil society
5 With governments (national and local)
6 In multistakeholder groups.
Please remember there is Strength and Resilience in Numbers! I look forward to your comments; contact me at hjschumacher59@gmail. com.
Tuesday, October 21, 2025
Ombudsman urged: Probe Sara’s confidential funds, abuse of power
By Butch Fernandez @butchfBM
SWIFT action on Vice
President
Sara Duterte’s alleged misuse of confidential and intelligence funds (CIF) and grave abuse of power.
That’s the plea of Akbayan Party, together with Tindig Pilipinas and the first and third group of impeachment complainants, in a letter to the Office of the Ombudsman they submitted on Monday. The letter, signed by Akbayan Party President Rafaela David, Akbayan Youth Chairperson Justine Balane, Tindig Pilipinas conveners Kiko Aquino Dee, Sylvia Estrada Claudio, Teresita Quintos Deles,
and human-rights lawyer Dino de Leon, calls on the Ombudsman to hold the Vice President accountable after her claim that she used the confidential funds to “investigate corruption” within her agency, which according to Akbayan, is an absurd alibi meant to distract the public from her blatant misuse of public funds.
David said the move is necessary to prevent another powerful
official from evading scrutiny. “ Susubukan pa tayong paikutin. Sa korte na dapat siya magpaliwanag para malaman na sino talaga si Mary Grace Piattos at san napunta ang pera ng mamamayan [She will attempt to derail this. She should just explain in court, so we can find out who is the real Mary Grace Piattos, and where di the people’s money went].”
David added, “This is why we urge the Ombudsman to initiate investigation and file cases on the grave abuses of Sara Duterte.” Filipinos, she stressed, are no longer blind to the misuse of public funds under the guise of confidential and intelligence spending. “The people will not be fooled. The confidential and intelligence funds served as VP Sara Duterte’s personal pork and she cannot run free from accountability.”
David also warned against Duterte’s attempt to ride on public frustration with government corruption for her own political rehabilitation. “Sara Duterte cannot ride on the people’s anger against the government’s ineptitude and corruption. We must not let her hijack our call for accountability for her political gain. G alit tayo sa lahat ng mga kurakot, at kasama siya sa gusto natin ipakulong [We are angry at all thieves. And she is among those we want jailed],” she said.
Echoing this call, Balane said the youth will not forget or forgive those who betrayed the public trust: “VP Sara, you are not yet safe. The youth will exact accountabiolity from all the corrupt ones and nepo babies like VP Sara. Like father, like daughter—this is the time to charge her and bring her to jail.”
Prosecutor junks Atong Ang’s complaint vs whistleblowers
TErwin Tulfo to IPU: Mechanism needed vs fake news peddlers
THERE is an urgent need to institute accountability mechanisms against spreaders of false information in order to uphold and strengthen democracy, which is put in peril because of their activities, Sen. Erwin Tulfo told global parliamentarians in Geneva.
Tulfo is the head of the Philippine delegation to the ongoing 151st InterParliamentary Union (IPU) Assembly in Switzerland, where he delivered a speech detailing how fake news negatively affected public perception of the government and the political atmosphere in the Philippines.
“We, in the Philippines, have seen how fake news and malicious online campaigns can erode public trust, distort democratic discourse, and even incite anger and violence. What begins as a false post or manipulated image can spread faster than facts, and the damage, once done, is often irreversible,”Tulfo said during the meeting among lawmakers from Asean (Association of Southeast Asian Nations) member-countries, Korea, Japan, and China, on Sunday.
While discussing the ill effects of fake news, Tulfo noted the importance of respecting and protecting freedom of speech in democratic countries. “Our task, therefore, is not to silence voices, but to safeguard [the] truth; to ensure that the digital public square remains a place for informed dialogue, not deception,” Tulfo, a veteran journalist turned lawmaker, said.
Apart from legal measures in combating disinformation and misinformation, Tulfo also advocated investing in media literacy, especially among the youth, so citizens can better discern truth from lies. “Ultimately, the fight against disinformation is not only about defending our leaders; it is about defending democracy itself,” he concluded.
Tulfo, a member of the Senate Committee on Public Information and Mass Media, has been pushing for transparency in the government to fight the proliferation of misinformation and disinformation in the Philippines In July, Tulfo filed Senate Bill 768, which seeks to penalize the generation and spread of fake news or information deliberately presented as factual content with the intent to mislead or deceive the audience. He also filed Senate Bill 1361, or the “People’s Freedom of Information Act,” which would help strengthen accountability in government and combat fake news in the Philippines. Before becoming a lawmaker, Tulfo worked over three decades as a multimedia journalist.
By Joel R. San Juan @jrsanjuan1573
HE Mandaluyong City Prosecutor’s Office has junked the criminal complaint filed by businessman Charlie “Atong” Ang against his two former employees who accused him of masterminding the disappearance of 34 cockfighting enthusiasts or “sabungeros” four years ago.
In a 19-page resolution dated September 30, 2025, the city prosecutors held that Ang failed to present factual details and sufficient evidence to warrant the filing of the criminal cases before the trial court “with reasonable certainty of conviction” against his former farm manager and alleged missing sabungeros’ whistleblower Julie “Dondon” Patidongan and Alan Bantiles.
Ang, in his complaint, sought the prosecution of Patidongan and Bantiles for violations of Articles 294 (robbery with violence against or intimidation of persons), 282 (grave threats), 286 (grave coercion), 358 (slander), and 363 (incriminating an innocent person) of the Revised Penal Code in relation to Section 6 of Republic Act 10175 or the Cybercrime Prevention Act of 2012.
In his complaint, Ang claimed that respondents demanded P300 million from him so that he would
not be implicated in the case of missing sabungeros.
The demand for payment was allegedly communicated through several phone calls by Bantiles, a former employee at his e-sabong firm Pitmasters Alpha, and on June 20, 2025, with Patindongan.
Ang said Bantiles insisted on paying the amount in order for Patidongan to recant his sworn affidavit executed before the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) implicating Ang, his three children and his associates in Pitmasters, in missing sabungeros’ case.
He said Bantiles warned him that Patindongan would continue to drag his name in the case in media interviews if he would not heed the demand for money.
On June 22, 2025, Ang said he was able to talk to Patidongan after Bantiles called him up and passed the phone to the latter.
During their conversation, Ang said Patidongan demanded the payment of the amount in exchange of his recantation but he refused to oblige.
However, the prosecutors said there was no prima facie evidence with reasonable certainty of conviction to indict Patidongan and Bantiles for attempted robbery with intimidation of person, grave coercion, and grave threats.
They held that the complainant failed to present sufficient evidence to prove intimidation.
The prosecutors even noted that it was Ang who initiated all communications between him and Bantiles from February 8 to 19, 2025.
“This fact substantially undermines the claim that the latter was under persistent threats and extortion during this period,” the resolution read.
The prosecutors pointed out that in typical extortion scenarios, it is the offender who initiates contact to issue demands or threats.
“The absence of incoming calls or messages from respondents Bantiles over several days renders implausible the assertion that complainant was under constant pressure or coercion,” they pointed out.
“If it were indeed true that complainant was being threatened or blackmailed, the reasonable response would have been to cease contact, report the matter to authorities, or otherwise avoid engagement with alleged extortionists,” they added.
Furthermore, the prosecutors said Ang’s continued financial support for Patidongan’s mayoralty race which amounted to P12 million between February and April 2025, contradicted his claim that the respondents had
Davao twin earthquakes death toll rises to 10
HE death toll in the dou -
Tblet earthquakes near Manay, Davao Oriental, on October 10, has risen to 10, the National Disaster Risk Reduction and Management Council (NDRRMC) reported on Monday.
In its 6:00 a.m Situation Report
on Monday, the NDRRMC said the number of injured stood at 176, but the number of affected people increased to 362,509 families or 1,510,591 persons in 703 barangays spread in 60 cities and towns.
The Philippine Institute of Volcanology and Seismology
(Phivolcs) said the 7.4 and 6.8 magnitude doublet earthquakes continue to trigger aftershocks.
As of October 20, it has recorded a total of 1,638 aftershocks, of which 810 are plotted and 19 felt.
The earthquakes and the aftershocks have so far damaged a total of 678 infrastructures worth P143,403,106, anda total of 26,159 houses, of which 1,190 are considered totally wrecked.
The doublet earthquakes have triggered Intensity V groundshaking events in Manay town, including neighboring areas such as Davao City. The NDRRMC said 11 cities and towns were declared under a state of calamity. The estimated cost of other damaged assets has also reached 680,766.
In the 7.6 magnitude earthquake near Bogo City, Cebu, last September 30, a total of 79 persons died while 559 others were injured.
The earthquake, which triggered an Intensity VII strong trem -
already conspired to rob, kidnap, and possibly kill him as early as September 2023.
“Such conduct is not only counterintuitive, it also strains credulity. The natural reaction of a reasonable person upon learning of a solid threat to his life or property would be to take immediate protective measures such as cutting ties, conducting verification, reporting the matter to law enforcement, or at the very least, confronting the person involved,” the prosecutors said.
Likewise, the prosecutors said there is no prima facie evidence with reasonable certainty of conviction to indict the respondents for incriminating an innocent person.
“In contrast, the records of this case do not allege any specific act by respondents that could be considered ‘planting’ or fabricating physical evidence against complainant,” the prosecutors added.
The resolution was signed by Prosecution Attorney Christine Brillantes and Edwin MercadoGregorio.
Ang, along with more than 50 other individuals are undergoing preliminary investigation at the Department of Justice (DOJ) for multiple murder and serious illegal detention complaints filed against them by the families of the missing sabungeros.
Ramil leaves 7 dead, 1 injured, 2 missing
THE casualty toll in the aftermath of Tropical Storm Ramil has climbed to seven dead, one injured, and two reported missing, the National Disaster Risk Reduction and Management Council (NDRRMC) said.
Ramil, which has left the Philippine Area of Responsibility (PAR), affected a total of 37,827 families or 133,196 persons in 355 barangays in 35 cities and towns in nine provinces.
In its Situational Report issued at 6 a.m. on October 20, the NDRRMC said that because of the inclement weather, a total of 28,472 persons from Cagayan Valley, Central Luzon, Calabarzon
“We must work together as parliamentarians to strengthen legal frameworks that hold accountable those who deliberately spread falsehoods, without endangering legitimate expression,” he asserted.
Tulfo leads the Philippine delegation in participating in the IPU Assembly and related meetings which will run until October 23. The Philippine delegation is composed of Sens. Raffy Tulfo and Imee Marcos; Reps Ferdinand Hernandez, Kristine Singson-Meehan, Ma. Georgina de Venecia, Maria Rachel Arenas, Faustino Michael Carlos Dy III, Brian Llamanzares, Jonathan Clement Abalos II and Florabel Yatco. Butch Fernandez
Remulla fires Martires ‘midnight appointees’
OMBUDSMAN Jesus Crispin Remulla had the suprise of his life when he found out that all positions in the Office of the Ombudsman were filled up by his predecessor, Samuel Martires, before he retired.
Observers said that in effect, Martires, an appointee of former President Rodrigo Duterte, still wanted to run the Office of the Ombudsman even after retirement.
As a result, Remulla ordered the more than 200 employees of the agency who may be considered as Martires’ “midnight appointees” to immediately vacate their posts.
At a press briefing, Remulla said he was surprised to learn that all vacant posts in the Office of the Ombudsman had been filled up last July or just before the retirement of his predecessor, former Ombudsman Samuel Martires.
Remulla, who was appointed by President Marcos on October 7, said his order covers
a total of 204 newly-hired employees who are still under probation.
“You don’t want to arrive at a place and suddenly find all the seats—which you were expecting to be available for your men—already filled. That should not be the case,” Remulla said.
The Ombudsman said he has asked the Civil Service Commission (CSC) to assist the agency in evaluating the appointments of the said employees.
“The Civil Service Commission has been very forthcoming and they have communicated their willingness to help us address the issue of midnight appointees,” Remulla said.
But, Remulla clarified that the affected employees may re-apply for their posts.
“I’m acting in good faith, and I hope they are all acting in good faith as well. They can reapply, and some of them might consider handing in courtesy resignations just to show they are in good faith,” he added.
BI warns vs new trafficking scheme
THE Bureau of Immigration (BI) has warned the public against a human trafficking scheme using legitimate overseas employment documents to dupe Filipinos to work in scam operations abroad.
Immigration Commissioner Joel Anthony Viado issued the warning following the arrival of four repatriated Filipino workers from Laos, who were initially deployed as Overseas Filipino Workers (OFWs) bound for Brunei but were later trafficked to Laos through Thailand.
The victims arrived on October 17 at the Ninoy Aquino International Airport (NAIA) Terminal 3 via AirAsia flight Z2286 from Don Mueang International Airport in Bagkok, Thailand
They were recruited through online advertisements promising high-paying customer support jobs in Laos with salaries reaching P47,000 per month or around 6,000 RMB.
Based on the bureau’s investigation, the victims received their employment documents, including Brunei work visas, employment contracts, Pre-Departure Orientation Seminar (Pdos) certificates, and Overseas Employment Certificates (OECs) only on the day of their departure at Ninoy Aquino International Airport (Naia).
The recruiters allegedly used Brunei as a cover destination to be able to illegally transfer them to another country.
Upon arrival in Laos, the victims were made to work up to 15 hours a day without rest, and were later forced to perform unrelated tasks—
including maintaining social media accounts for online scams.
One of the repatriated individuals admitted to being coerced into illegal activities, while another confessed to having been recruited by a former acquaintance through Facebook.
The victims sought the assistance of the Philippine Embassy in Vientiane to be able to leave their employers, which immediately facilitated their repatriation in coordination with the Department of Foreign Affairs. Viado noted the evolving tactics of trafficking syndicates, who are now exploiting legitimate OFW deployment channels to send victims abroad.
“Despite repeated government warnings, these syndicates continue to prey on the desperation of Filipinos seeking work abroad,” Viado said.
The Bureau confirmed that the identities of the recruiters have already been reported to the Inter-Agency Council Against Trafficking (Iacat), and one was reportedly arrested by the National Bureau of Immigration-International Airport Investigation Division (NBI-IAID) after being found to be involved in the victims’ recruitment.
“Illegal recruiters and human traffickers will face the full force of the law,” he warned. “We continue to coordinate closely with Iacat and international partners to ensure that those behind these syndicates are held accountable,” Viado warned. Joel R. San Juan
www.businessmirror.com.ph
Tuesday, October 21, 2025
Anti-corruption group files charges vs Chavit, others
By Joel R. San Juan @jrsanjuan1573
AN anti-corruption advocacy group on Monday filed plunder and graft charges against former Narvacan, Ilocos Sur mayor Luis “Chavit” Singson and several others in connection with the alleged overpriced purchase of a property from a textile company and the privatization of a foreshore land located in his town.
ity by not filing financial statements from 2019 to 2022.
The complainant asked the Ombudsman to compel the respondents to produce relevant documents in connection with the purchase of the said property.
The group also sought the preventive suspension of Sanidad, the conduct of a lifestyle check against the respondents, and restitution of P99.97 million, representing the alleged overprice.
Likewise, the complainant urged the Ombudsman to impose administrative sanctions and perpetual disqualification from public office of the respondents.
Cagayan Valley minimum wage earners get pay hike
By Justine Xyrah Garcia
ALL minimum wage earners in the private sector in Cagayan Valley will soon receive a uniform daily pay of P500 beginning November 5, following the approval of new wage order.
The Regional Tripartite Wages and Productivity Board (RTWPB) II announced on Monday that non-agriculture workers will get a P20 increase, while those in agriculture will receive a P40 hike—raising their daily rates from P480 and P460, respectively.
The RTWPB II said the adjustment will apply to regular working hours not exceeding eight hours a day.
The complainant Warriors Ti Narvacan Inc. (WTNI) which was represented by its president, lawyer Estelita D. Cordero, claimed that the respondents conspired to defraud the municipal government by approving and executing the overpriced purchase of 99,974-square meter property from Western Textile Mills, Inc. in the amount of P149.96 million, despite its actual value being only around P49.98 million based on zonal valuation.
The WTNI accused Singson of acting as the “main plunderer” as he was the one who initiated and negotiated the deal as the other respondents acted as co-conspirators.
The group said the respondents concealed the irregular-
Aside from Singson—who was also a former governor of Ilocos Sur—also named as respondents in the plunder complaint were were Vice Mayor Pablito V. Sanidad Sr.; Councilors Edna C. Sanidad, Joseph A. Tejada, Jovenniano B. Ampo Jr., Charito C. Viloria, Bernadette C. Lim, Loreto C. Caballes, Emiliano C. Clarin, Reina Alexa V. Antolin, Romulo C. Rea, and Joemar Grey A. Cabico; Municipal Assessor Arlene Debina; and Western Textile Mills Inc. representative Raymond Ang. In the graft case, the group also named former general manager/chief executive officer Robert Dean S. Barbers of the Philippine Tourism Authority (PTA), Manager Luzviminda Ramos of Tourism Lodge and caretaker of the foreshore area locally known as “Santorini,” and Provincial Environment and Natural Resources Officer (Penro) Rosemarie Jornacion.
On the graft complaint, the WTNI claimed that Singson and his co-respondents illegally occupied and privatized the foreshore area in Sulvac, Narvacan, Ilocos Sur, known as “Santorini” by constructing resort structures without permits or environmental clearance.
It also questioned a 2008 deed of sale executed by Barbers transferring public land to Ramos’ company without presidential approval.
“The acts allegedly caused undue injury to the government, violated environmental laws, and showed abuse of authority and conspiracy among the respondents,” the complaint read.
Aside from holding Singson and his co-respondents liable for graft, the complainant sought the nullification of the illegal sale, imposition of sanctions against Jornacion, and the demolition of illegal structures to restore public access to the foreshore land.
Lawmaker to DFA, DTI: Act on new US bill on call centers
ALEGISLATOR on Monday
filed a resolution urging the Department of Trade and Industry (DTI) and the Department of Foreign Affairs (DFA) to take immediate diplomatic and trade action in response to the proposed “Keep Call Centers in America Act of 2025,” bill in the US Congress that could endanger the country’s business process outsourcing (BPO) industry and the jobs of over 1.7 million Filipinos.
In House Resolution 386, Cebu Rep. Duke Frasco called on the DTI and DFA—working with the Philippine Economic Zone Authority (Peza), the Board of Investments (BOI), and the Information Technology and Business Process Association of the Philippines (Ibpap)—to undertake immediate diplomatic consultations with US officials to protect the continued operation of US-affiliated BPO companies in the Philippines.
The US bill, filed in Congress as Senate Bill 2495 and House Bill 4954, would require US employers to notify the US Secretary of Labor 120 days before relocating call center operations abroad. It would also publicly name companies that outsource jobs, bar them from receiving federal grants or loans for five years, and allow customers to demand that their service calls be handled only by US-based agents.
Frasco warned that such provisions could significantly disrupt the Philippine outsourcing
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industry, which employs around 1.7 million Filipinos and generates approximately US$35 billion annually, a large portion of which comes from US clients.
Frasco said that despite the potential economic fallout, the DTI fell short in taking proactive diplomatic or policy steps to defend the Philippines’ interests.
“While the DTI has expressed readiness to assist the BPO sector, to date, it has not initiated formal talks with U.S. counterparts, convened a unified strategy with Ibpap, Peza, and BOI, or issued a clear and time-bound action plan to protect our BPO workers,” Frasco added.
“Given our dependence on the US market, a wait-and-see approach is unacceptable. The livelihoods of millions of Filipino families hang in the balance.”
The Philippine BPO industry is a vital economic driver, generating around US$35 billion annually, with roughly 70 percent of clients coming from the US Cebu, in particular, stands as one of the country’s largest outsourcing hubs outside Metro Manila, hosting major BPO operations in Cebu City, Mandaue, and nearby municipalities. The sector provides stable, high-value employment for tens of thousands of Cebuanos, supporting families and stimulating local businesses across the province.
“Cebu has become a cornerstone of the country’s outsourcing success,” Frasco said. “Our local communities
benefit greatly from the jobs, skills development, and opportunities created by the BPO sector. Any disruption caused by this US legislation would have a direct and painful impact on Cebuano workers and families.”
The resolution noted that many BPO firms in the Philippines operate under the PEZA and the BOI—both of which are under the supervision of the DTI—and have been major contributors to employment, export services, and digital upskilling efforts in the country.
The resolution further emphasized that the Philippines remains an indispensable, reliable, and strategic partner of the United States in the global services sector, providing a secure and skilled workforce for American companies.
“The urgency of the situation demands proactive diplomatic action,” the resolution added.
“The government must act to protect millions of Filipino jobs and preserve the longstanding economic partnership between the Philippines and the United States.”
“The DTI must act with urgency and clarity,” Frasco said. “The Philippines has long been a trusted and strategic partner of U.S. companies. It is the responsibility of our government to defend that partnership, protect our workers, and safeguard an industry that sustains the livelihood of countless Filipino families.”
Jovee Marie N. dela Cruz
“The wage increase prescribed herein shall apply to all minimum wage earners in the private sector within the region, regardless of their position, designation or status and irrespective of the method by which their wages are paid,” it added.
Aside from private-sector employees, domestic workers (kasambahays) will also see an increase in their pay, with a P500 raise bringing their new monthly minimum wage to P6,500.
“WHEREAS, after a thorough review and evaluation of the results of the consultations and public hearings, existing socio-economic conditions in the region, the needs of the domestic workers and their families, as well as the employers’ capacity to pay, the Board deemed it necessary to increase the prevailing minimum wage rate for domestic workers,” the regional board said.
The new rate, which will also take effect on November 5, applies to all household workers, whether living in or outside their employers’ homes, including househelp, nannies, cooks, gardeners, and laundry workers.
Ramil. . .
Continued from A4
(Cavite, Laguna, Batangas, Rizal and Quezon), Bicol, Western Visayas, and Eastern Visayas were pre-emptively evacuated.
“The weather bureau said Ramil, the 18th severe weather disturbance to affect the country this year, further intensified outside PAR, and continues to induce scattered rains and thunderstorms over Metro Manila, Ilocos Region, Cordillera Administrative Region, Cagayan Valley, Central Luzon, Cavite, Batangas, Laguna, Rizal, Occidental Mindoro, Oriental Mindoro, and Palawan.
The trough and outer rainbands of Ramil and the easterlies will also bring strong to gale-force gusts over Ilocos Region, Cordillera Administrative Region, Cagayan Valley, Central Luzon, and Occidental Mindoro,” the state weather bureau added.
or in the island province of Cebu, has affected a total of 215,460 families or 749,108
cities and municipalities in 279 barangays. The earthquake damaged 948 infrastructure worth P6.77 million. The number of damaged houses, of which 7,402 were
destroyed, reached 135,462.
As of last count, it has generated a total of 13,375 aftershocks, of which 2,425 are plotted and 71 felt, with magnitudes ranging from 1 to 5.8. Jonathan L. Mayuga Earthquakes. . .
As of 11 a.m., Ramil was spotted west of Sinait, Ilocos Sur, moving northwestward at 25 kilomeers per hour.
Pagasa said it is packing maximum sustained winds of 85 kph near the center and gustiness of up to 105 kph. Jonathan L. Mayuga
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October 21, 2025
Editor: Angel R. Calso
Amazon Web Services outage knocks out major online platforms worldwide
AN Amazon Web Services outage on Monday caused major disruptions in various online platforms around the world. The service provides remote computing services to many governments, universities and companies, including The Associated Press.
On DownDetector, a website that tracks online outages, users reported issues with Snapchat, Roblox, Fortnite online broker Robinhood, the McDonald’s app and many other services.
and
Amazon Web Services said on the site where it provides updates that services in its eastern US region were disrupted and engineers were working to understand what was causing the problem. AWS
customers include some of the world’s biggest businesses and organizations.
Reports flooded social media as users took to platforms like Twitter and Facebook to share their experiences. The outage appeared to be global in scale, with many users confirming issues not only in the US but also in other regions. The disruption affected various industries, from e-commerce to gaming, highlighting the pervasive reliance on AWS for cloud services.
Tech experts noted that AWS is a backbone for numerous online platforms, and its failure can lead to cascading effects across multiple services. “When AWS goes down, it’s not just Amazon that feels the impact; it’s a multitude of companies that depend on their infrastructure,” said a technology analyst. As the outages persisted, companies scrambled to find workarounds and communicate with their users. Many online retailers reported difficulties in processing orders, while gaming platforms saw interruptions that frustrated players eager to connect. AWS has stated that they are investigating the cause of the outages and are working to restore services as quickly as possible. Users are urged to stay updated through official channels for more information. AP
Thailand braces for $3.1 billion hit from dispute with Cambodia
TBy Randy Thanthong-Knight
HAI Prime Minister
Anutin Charnvirakul’s government predicts losses could total 100 billion baht ($3.1 billion) from disruptions to cross-border trade with Cambodia, after a longstanding territorial dispute erupted into armed conflict earlier this year.
Following the closure of border crossings between the two countries, Thai businesses have lost an estimated 15 billion baht ($458 million) per month, according to minutes of last week’s economic committee meeting seen by Bloomberg News. Total losses could reach 100 billion baht if the situation persists through the end of the year, the minutes showed.
The first official estimate of the damage comes as Anutin, who came to power after his predecessor was dismissed over her handling of the border dispute, looks for ways to revive the economy ahead of elections early next year. Nationalist feelings over the contested area have been running high and US President Donald Trump has threatened to withhold trade agreements from both Southeast Asian countries.
During the October 15 meeting of economic ministers, Anutin called for talks with the US be “conducted cautiously,” stressing that the border dispute could affect Thailand’s tariff negotiations.
The Trump administration has imposed 19% tariffs on Thai exports, though the Thai government wants to negotiate a lower rate. Economists warn that slowing exports, as well as declining tourist arrivals, could stall economic growth in the second half of this year.
While the current Thai tourism slowdown isn’t a direct
Zelenskyy slams Budapest as Putin summit venue but says he would go
By Kateryna Chursina & Aliaksandr Kudrytski
RESIDENT
PVolodymyr Zelenskyy said Budapest wasn’t the best place for talks to end the war in Ukraine because of Hungarian Prime Minister Viktor Orban’s Russia-friendly stance, but he’d still come if invited.
“I do not believe that a prime minister who blocks Ukraine everywhere can do anything positive for Ukrainians or even provide a balanced contribution,” Zelenskyy said of Orban, who has repeatedly sought to stall European Union sanctions on Russia and traveled to Moscow to meet Putin.
Still, Zelenskyy said he’d consider an invitation to Budapest. “If it’s an invitation in a format where the three of us meet, or, as it’s called, shuttle diplomacy, where President Trump meets with Putin and President Trump meets with me—then, in one format or another, we’ll agree to it,” he said.
Donald Trump announced plans to meet Vladimir Putin in the Hungarian capital in the coming weeks following a phone call with the Russian president on Thursday, less than three months after their August summit meeting at a US military base in Alaska ended with little visible progress on ending the war. Trump hosted Zelenskyy at the White House on Friday and later urged both sides to make a deal, telling them to “stop right now at the battle line” as he equivocated over military aid to Ukraine and the threat of new sanctions on Russia. The US president suggested the possibility of meeting Putin and Zelenskyy separately but appeared to back away from the earlier idea that the two would meet face to face.
“We have communicated both publicly and privately that we are ready for a meeting in any format that will be effective,” Zelenskyy told reporters in Kyiv. “I do not consider Budapest to be the best venue for such a meeting. Obviously, if it can bring peace, it will not matter which country hosts the meeting.”
Zelenskyy said he “devoted sufficient time to a meeting” with Trump’s special envoy Steve Witkoff to explain why Budapest wasn’t a suitable place to host the peace talks. He said other options included Switzerland, Austria, the Vatican, Saudi Arabia, Qatar and Turkey.
EU foreign ministers meeting in Luxembourg on Monday also criticized the choice of venue for a summit. French Foreign Minister Jean-Noel Barrot said “the presence of Vladimir Putin on EU soil only makes sense if it allows for an immediate ceasefire without conditions.”
The plan has unsettled European officials. They fear being sidelined as Trump pushes to negotiate directly with Putin against their advice and on their territory.
result of the dispute, the ongoing conflict may raise safety concerns among foreign tourists, government spokesman Siripong Angkasakulkiat said at the meeting. He urged that the
government launch a public-relations campaign to show that Thailand remains a safe destination.
The tensions have also prompted some Cambodian migrant workers
to return home, removing a key source of labor in Thailand’s rapidly aging economy. To address potential worker shortages, the labor ministry told officials that
it has begun the registration of undocumented workers as a “temporary replacement measure.” With assistance from Suttinee
Bloomberg
Yuvejwattana/
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October 21, 2025
Chinese export boom can’t stop economy’s slowdown
By Bloomberg News
CHINA’S economy probably grew at the slowest in a year during the third quarter despite a boom in exports, in a disconnect the Communist Party may move to rectify at a key meeting in the coming week.
As trade tensions escalate with the US, weakness in investment, industrial output and retail sales is undermining momentum from record sales abroad. Data due on Monday from China’s National Bureau of Statistics will show gross domestic product rose 4.7% in the quarter from a year earlier, according to the median estimate in a Bloomberg survey, down from 5.2% in the prior three months. Retail sales are forecast to have expanded 3% in September and industrial output to have climbed by 5%—the weakest outcomes this year for both. Meanwhile, fixed-asset investment is forecast to have slowed again in the first nine months, to be unchanged from a year earlier. It’s been plunging since May despite a massive expansion in government borrowing meant to support the spending power of local authorities. Public spending on infrastructure hasn’t been enough, though, to make up for a
Putin. . .
Continued from A7
slump in housing investment and the slowdown in money going to manufacturing.
Foreign firms have also been pulling back on outlays, with inbound new foreign direct investment down almost 13% in the first eight months, putting China on track for three straight years of declines. One bright spot is foreign demand, with the goods trade balance so far this year hitting a record $875 billion, according to the latest figures.
The economic fragility sets the tone for the upcoming gathering of party officials at the so-called fourth plenum in Beijing. The huddle will provide clues on their priorities for 2026-2030, as governments and investors around the world call for a rebalancing of China’s economy toward domestic consumption.
“Beijing now faces deep structural headwinds—from fading growth drivers to a protracted property downturn and entrenched deflation—unlike the severe, yet temporary pandemic shocks during the last five-year planning stage. With the US ratcheting up trade and tech restrictions, the external environment has also turned sharply adverse. This time, the transition is no longer a distant goal—it’s impera -
The Ukrainian leader had hoped the White House talk would be a chance to ratchet up pressure on Putin as he pressed the US to
tive,” said Chang Shu, Bloomberg’s chief Asia economist.
The IMF, which just kept its prediction for China’s 2025 growth at 4.8%, expects a slowdown next year to 4.2%—an outlook in line with the median forecasts of economists surveyed by Bloomberg. The fund warned that “China’s prospects remain weak,” saying “real estate investment continues to shrink while the economy teeters on the verge of a debt-deflation cycle.”
“Rebalancing toward household consumption—including through fiscal measures with a greater focus on social spending and the property sector—and scaling back industrial policies would reduce external surpluses and alleviate domestic deflationary pressures,” the IMF officials said in their global economic outlook.
Elsewhere, inflation data from Japan to the UK, purchasing manager indexes from major economies, and the first summary of a meeting by Swiss central bank officials will be among the highlights.
US and Canada
AFTER being delayed by the US government shutdown, the Bureau of Labor Statistics will release of the September consumer price index on Friday. The data, origi -
sell his country Tomahawk cruise missiles. But he left Washington empty-handed after Trump declined to arm Ukraine with weapons powerful enough to reach Moscow and targets deep inside Russia.
“The perception that Russia is supposedly winning on the battlefield exists in certain circles in the United States,” Zelenskyy said. “It seems to me that among those who constantly promote the idea of Russia’s so-called unconditional advantages in this war is the current prime
nally slated for Oct. 15, will give Federal Reserve officials a critical piece of information on inflation ahead of their policy meeting the following week.
Economists in a Bloomberg survey forecast the core CPI, which excludes food and fuel for a better snapshot of underlying inflation, to have climbed 0.3% for a third straight month as higher import duties continue to gradually filter through to consumers. The projected monthly gain will keep the annual core CPI at 3.1%.
While most official economic data releases have been delayed, BLS staff were called in despite the shutdown to prepare the September CPI report, which informs next year’s cost-of-living adjustments for Social Security recipients.
Although inflation is stuck above their goal, Fed officials are expected to announce their second rate cut of the year following a two-day meeting on Oct. 28-29 because of the fragile labor market.
Among private-sector economic data on the agenda, a National Association of Realtors report on Thursday will probably show contract closings on purchases of previously owned homes stayed tepid in September.
An S&P Global PMI release on Friday is projected to illustrate
minister of Hungary.” Zelenskyy said he told Trump that Budapest as a venue for talks would also be bad for his country from a historical perspective, because it’s where Ukraine agreed to give up its Soviet nuclear weapons in 1994 in return for assurances from Russia, the US and UK to safeguard its territorial integrity. Russia broke the so-called Budapest Memorandum when it seized Crimea from Ukraine in 2014. Still, “We have moved closer to a possible end to the war, I can
modest growth in manufacturing and services activity.
Bloomberg Economics’ full week ahead:
Asia
APART from the busy week in China, Japan reports national CPI figures on Friday expected to show that consumer inflation remained well above the Bank of Japan’s target in September, while purchasing manager indexes the same day may show manufacturing activity shrinking for a fourth straight month, even as services marked a full year of expansion.
India’s September PMI figures will likely show manufacturing activity remains robust. New Zealand reports quarterly inflation data, while Malaysia, Singapore and Hong Kong release September CPI.
Monthly trade data are due from New Zealand, Thailand and Japan, while South Korea will release 20-day trade statistics for October.
On the policy front, China is likely to hold its 1- and 5-year loan prime rates steady on Monday. Bank Indonesia will mull another cut to its benchmark rate on Wednesday as it weighs benign inflation against the weakening rupiah.
A day later, the Bank of Korea
tell you that for certain,” Zelenskyy said. “That doesn’t mean it will definitely end, but President Trump has achieved a lot in the Middle East, and riding that wave he wants to end Russia’s war against Ukraine.”
Ukraine’s president said that his government was preparing a contract for 25 Patriot air defense systems, which the country will receive “over the years, with different quantities each year. The White House can change the queue if there is political will.”
is expected to hold its base rate steady at 2.50% while possibly foreshadowing a cut in November as inflation stays subdued and economic growth cools. Uzbekistan sets rate policy on Thursday.
Europe, Middle East, Africa THE week’s highlight may be the initial reading of October purchasing manager indexes across western Europe.
These will reveal how manufacturing and services companies in Germany, France and the UK assessed the activity at the start of the fourth quarter, pointing to any momentum—or lack thereof—at a time when President Donald Trump’s tariffs are squeezing exports to the US. In terms of hard data, Britain may draw the most attention. Public finance numbers on Tuesday will inform Chancellor Rachel Reeves as she prepares for a fraught budget in November.
Inflation the following day will be crucial both for Reeve’s plans and the Bank of England, which is inching toward further rate cuts while nervously monitoring stillstrong price pressures. The data are likely to show acceleration to 4%, the fastest in 1 1/2 years.
See “China,” A9
Ukraine is also working to secure gas supplies after Russia’s air strikes wiped out more than half of its domestic gas production in recent weeks. The attacks have caused power shortages and put the country in a precarious position ahead of winter.
“We estimate that in a very difficult situation, Ukraine must be prepared to find gas worth $2 billion,” he said. “We have already secured part of the tranches.” With assistance from Andrea Palasciano/ Bloomberg
150K join Marikina city-wide earthquake drill for ‘the big one’
TO prepare its residents for the strong quake expected to hit Metro Manila or what was dubbed as “The Big One,” the local government of Marikina City held on Monday, October 20, a city-wide simultaneous earthquake simulation drill participated by around 150,000 residents.
“The Big One” refers to a projected magnitude ~7.2 (or higher) earthquake along the West Valley Fault near Metro Manila—a high-impact hazard scenario that scientists say could cause widespread destruction.
Aligned with Mayor Maan Teodoro’s commitment to safeguard the city’s people, the local government focused on a “family-based” and “communitybased” earthquake drill wherein everyone in the city —government offices, schools, homes, businesses, and other establishments—took part in the activity that seeks to strengthen community-building and resilience among the people.
Mayor Maan said that approximately 100,000 individuals joined from schools, and an additional 50,000 participants represented communities and the private sector.
“Nasa 150,000 ang total ng nag -participate sa ating city-wide earthquake simulation drill—100,000 mula sa schools, samantala nasa 50,000 naman sa communities and private sector,” she said.
”Ang kaligtasan ng lahat ay tungkulin ng bawat isa. Dapat lagi tayong sama-sama at tulong-tulong at buong komunidad. Ito ang tinatawag natin na whole-of-community approach sa iisang layunin—alagaan ang buhay at kaligtasan ng bawat taga -Marikina.” She stressed that it is vital to conduct these citywide earthquake drills, not only to inform, but to help instill a sense of urgency, discipline, and bayanihan among the people, especially since parts of the city rest on the West Valley Fault Line—a major hotspot for possible earthquake impacts.
“Ang number one priority ng lokal na pamahalaan ay ang kaligtasan at kapakanan ng lahat ng taga -Marikina. Every year naman tayong nagsasagawa ng mga earthquake drill sa pamahalaang lungsod, at mga paaralan. Pero dahil sa sunod-sunod na earthquakes na nararamdaman sa bansa, mahalagang mas lalo pang palakasin ang kultura ng kahandaan, disiplina, at pagtutulungan ng mga komunidad sa oras ng sakuna,” said Mayor Maan.
As part of the earthquake drill, Mayor Maan inspected the city’s assets to be used in the event of a disaster, including ambulances, fire trucks, City Disaster Risk Reduction and Management (DRRM) vehicles, as well as the Command Posts and Field Hospitals that will be set up.
The mayor also assured that the city is equipped with adequate manpower and urban search and rescue tools and equipment in the event of a disaster such as a vibroscope (an instrument used for observing and tracing vibrations) that can aid in detecting victims trapped under rubble.
The Marikina City Disaster Risk Reduction and Management Office (CDRRMO) has identified some of the following safe zones in the city in case of calamities like earthquakes:
Brgy. IVC - C5 Access Road corner E. Abello, Major Dizon Road
Brgy. Jesus Dela Peña - Manila Bay, Provident Riverside
Brgy. Kalumpang - Ground Golf Area, Barangay Hall Grounds
Brgy. Malanday - Golden Valley Open Space, Park Land Open Space
Brgy. Sta. Elena - River Park, Freedom Park, Plaza delos Alcaldez, SNR Access Road
Brgy. San Roque - Chestnut Open Space; Midtown Phase 1, 2, 3 Open Space; San Roque Elementary School Open Space
Brgy. Sto. Niño - Sto. Niño Baseball Field, Federal Land Open Space, Marikina Sports Park, Robinsons Open Space, Gil Fernando Highway, Homeowners Drive corner JP Rizal Open Space
Brgy. Tañong - Provident River Side, Loyola Cemetery
District 2: Brgy. Concepcion Uno - Trevi Open Space, Bayan Bayanan Avenue, Soliven Street Greenheights Brgy. Concepcion Dos - Marikina Hotel, Katipunan Street; Rancho Estates 1, 2, 3, 4 Open Space
Brgy. Fortune - Red Cross Open Grounds, Boys Town Open Grounds
Brgy. Marikina Heights - Liwasang Kalayaan, Marist Open Space, St. Scholastica’s Academy Inside Parking Space
Brgy. Parang - Parang Play Grounds, Parang Elementary School Open Grounds Brgy. Tumana - Farmers I, Iwahig, Woodrich Village Open Space, LGV Open Space Brgy. Nangka - St. Mary Open Space, Bagong Sibol Open Space, Kabayani Road
Marikina CDRRMO Chief Dave David said that the safe zones identified by their office are merely general areas that the public can access when an earthquake hits. However, residents are urged to identify other safe zones that are nearer to their places of residence.
“Bawat pamilya , i -identify na ang pinakamalapit na open spaces. Ang mga inidentify namin na safe zones, general areas s ila. Hindi naman obligado pumunta kung malayo,” he said.
Prior to the earthquake drill, Mayor Maan led a coordination meeting on October 16 with representatives from the local government’s various offices and departments, national agencies, and other stakeholders to ensure that the activity is done safely, effectively, and in an organized manner.
“Ginagawa natin ang mga paghahandang ito hindi para manakot, kundi upang maging handa. We can never be ready enough, ngunit tungkulin nating gawin ang lahat ng ating makakaya,” said Mayor Maan.
currently has a stable outlook on the country. Belgium is also on the calendar for a possible review from S&P Global Ratings, whose view on its credit score is already skewed negative.
Palace: Anti-corruption drive in flood control hampered by ‘obstructionists’
By Samuel P. Medenilla @sam_medenilla
WHILE the Marcos administration has already made significant gains in combating corruption in flood control projects, it could have made more achievements if its efforts were not hampered by “obstructionists,” according to Malacañang.
Palace Press Officer Claire Castro issued the statement after 34 business groups issued a joint statement during the weekend calling on the Chief Executive to further empower the Independent Commission for Infrastructure (ICI) as it continues to lead the investigation on anomalous public works.
“We can probably ask those obstructionists who are just making up different stories to destroy the integrity of ICI to reduce it or stop it because it is not helping the economy,” she said in a press briefing last Monday.
Vice President Sara Duterte was among those who criticized the ICI for being “unnecessary” since the investigating bodies such as the
Ombudsman and the Department of Justice can just directly probe anomalous public works and then file the necessary charges against those involved.
Created by Executive Order (EO) No. 94, the ICI was tasked to submit the findings of its probe to concerned government agencies for the filing of charges against erring government officials and personnel.
The business groups want Marcos to back initiatives in Congress, which will empower the ICI.
Castro reiterated that the chief executive is open to initiatives, which will give the ICI “more teeth” to perform its tasks.
Last month, she said the President will study the proposed pieces of legislation, which seeks to provide contempt powers to the ICI.
Anti-corruption achievements
BUT even with the said bills still pending, Castro said the ICI and other government agencies have made gains in their anti-corruption campaign, including the sumbongsapangulo.ph website, where the public can report problematic
Aliw condemns ambush of DWIZ block-timer in Albay
justice,” the company said.
public works as well as the creation of the ICI.
The ICI said it expects to file 15 to 20 cases, which will cover over 400 suspected ghost or nonexistent flood control projects in the coming weeks.
The Anti-Money Laundering Council (AMLC) was also able to secure freeze orders from the Court of Appeals on hundreds of bank accounts and other assets linked to irregularities in flood control projects.
There were also recommendations for filing of charges against several lawmakers, who allegedly collected kickbacks, including Ako Bicol Rep. Zaldy Co.
“The President and the administration feel the plight of the businessmen, which is why investigations are ongoing and action is being expedited to hold those who should be held accountable,” Castro said in Filipino.
No foreign intervention
IN a related development, Castro assured that there is no in -
tervention from other countries, particularly from the United States, on the probe of the ICI. This after Chief of Mission Michael Kelleher visited the ICI last week.
Citing her conversation with the ICI Executive Director Brian Keith F. Hosaka, she said the visit was only a courtesy call and did not involve any audit on infrastructure projects funded by the US.
“He [Kelleher] was just asking for the methodology and mandate of the ICI,” she said.
As to the proposal of Senator Sherwin T. Gatchalian for the abolition of the Department of Public Works and Highways (DPWH) due the supposed prevalence of corruption within the said department, Castro said Marcos is not considering the said recommendation for now.
Instead, she said the chief executive wants DPWH Secretary Vivencio “Vince” B. Dizon to continue his efforts to reorganize within his agency to remove its erring officials and personnel.
In the euro zone, several European Central Bank speakers will deliver remarks before a pre-decision quiet period kicks in on Thursday. Among them will be Executive Board members Isabel Schnabel and Philip Lane on Monday, and President Christine Lagarde on Wednesday.
Meanwhile, France’s ongoing struggles to pass a budget are likely to continue after Prime Minister Sebastien Lecornu survived two no-confidence votes in the past week. Political strife could yet force the collapse of his government.
The situation was exacerbated by Friday night’s unscheduled move by S&P Global Ratings to downgrade the country. The move means France has lost its double-A rating at two of the three major credit assessors in little more than a month, potentially forcing some funds with ultra-strict investment criteria to sell the country’s bonds.
An update at Moody’s Ratings is due at the end of the coming week, though the firm
In Switzerland on Tuesday, September export numbers will offer a glimpse into the country’s trade position at the end of a quarter when it got slapped with the highest US import tariffs of any advanced economy. The government cited those levies in cutting its growth forecast for next year. Thursday will be a watershed moment for the Swiss National Bank with the release of its first-ever summary of a rate meeting discussion, in an attempt to emulate the sort of transparency practiced by the Fed. Turning south, data on Wednesday will likely show South African inflation ticked up to 3.4% in September from 3.3%. That may again persuade policymakers to hold rates steady for a second consecutive meeting next month as they defend the South African Reserve Bank’s stricter 3% goal for price growth, which they signaled in July is their preferred level.
A day later, the central bank will publish its semi-annual monetary policy review and
By Rex Anthony Naval
ALIW Broadcasting Corporation, the operator of radio station DWIZ, strongly condemns the ambush that wounded one of its blocktimers at Barangay Morera, Guinobatan, Albay Monday.
The company identified the victim as Noel Samar, 54, a DWIZ block-timer and also affiliated with Kadunong ITV.
“We are relieved to learn that Mr. Samar survived the attack and is currently receiving medical treatment. However, this violent act remains a serious assault on press freedom and the safety of journalists who dedicate their work in informing the public,” Aliw added.
Initial police reports said the victim sustained gunshot wounds to the left side of the chest and abdomen and was transported to a hospital in Legazpi City.
“We call on authorities to conduct a swift and thorough investigation to identify and bring the perpetrator to
Governor Lesetja Kganyago will offer more insights.
Some monetary decisions are scheduled around the region:
On Tuesday, the National Bank of Hungary is set to keep its rate on hold at 6.5%, having rebuffed government calls for easing. Turkey’s central bank is likely to lower rates again on Thursday—by 100 basis points to 39.5%, according to a Bloomberg survey. Still, some in the poll expect a hold after price growth unexpectedly picked up in September to 33.3% year-on-year.
The Bank of Russia will announce its latest rate decision on Friday, after cuts at the past three meetings brought the benchmark to 17%. Governor Elvira Nabiullina has warned that the widening federal budget deficit, driven by spending on the war in Ukraine, may limit room for further cuts.
Latin America
IN a light week, Mexico may face a second straight month of negative GDP-proxy prints for August, due largely to more restricted public spending and Trump’s trade policies.
“Aliw Broadcasting Corporation stands in solidarity with Mr. Samar, his family, and the entire media community as we continue to uphold our shared commitment to responsible journalism and freedom of expression,” it added.
As this developed, Police Region Office 5 chief Brig. Gen. Nestor Bagagay Jr. condemned the attack and called it a “senseless act of violence” against a member of the media who serves as a vital pillar of truth.
He assured the family that perpetrators would be brought to justice, forming a special investigation task group “Samar” to handle the case.
“Utilize maximum resources to solve the case and serve justice. Our efforts are in full motion. I have directed all our investigators to fast-track the investigation and leave no stone unturned until the suspect is identified, arrested, and held accountable for this ruthless act,” he said.
In similar vein, August data from Argentina may show activity extending a slump as President Javier Milei’s shock therapy weighs on the economy.
Also due from Argentina is Torcuato Di Tella University’s government confidence index, which is fresh off a tumble and may have taken another leg down amid a sell-off of the peso and local assets. Much is riding on how Milei fares in the Oct. 26 midterm elections.
Providing regional contrast material, Colombia’s August GDP-proxy report comes on the heels of July data that showed growth got off to a blistering start in the second half, in line with central bank forecasts.
Mid-month inflation reports from Brazil and Mexico are likely to show still-simmering price pressures.
Sticky and elevated core readings are likely to keep Brazil’s central bank on hold at 15% into 2026, though readings in Mexico are very unlikely to see Banxico pause its easing cycle after 10 straight rate cuts. With assistance from Brian Fowler, Laura Dhillon Kane, Vince Golle, Monique Vanek, Robert Jameson, Mark Evans, Tony Halpin, Paul Abelsky and Paul Wallace/ Bloomberg
October 21, 2025
Advocate pushes for $500 minimum wage for domestic workers abroad
RISING global cost of living in the last 20 years, should prompt the Department of Migrant Workers (DMW) to consider making it mandatory for employers to raise the monthly minimum wage for Filipino domestic workers abroad to US$500, according to a migrant advocate.
Center for Migrant Advocacy (CMA) Executive Director Ellene Sana issued the statement after DMW announced that the implementation of the new rate, which will raise the current US$400 minimum wage for Filipino domestic workers by US$100, will vary depending on the results of an audit report it will conduct.
Under its Memorandum Circular (MC) No. 03, series of 2025, DMW said it will extend the transition period for the implementation of the new rate by another six months.
“The DMW shall conduct a performance audit to assess overall compliance. Based on this assessment, the Department may either extend the transition period or
mandate full compliance with the US$500 minimum wage,” according to the three-page issuance dated 7 October 2025.
Employers who will voluntarily comply with the new rate will be given incentives by DMW including priority processing for accreditation, registration, and re-accreditation; access to a pool of skilled labor to facilitate skills matching and recruitment; and consultation on employment standards.
As of press time, DMW has yet to release the grounds and basis it will use to determine if an employer must implement the new minimum wage or not.
Progressive implementation SANA backed the gradual implementation of the new minimum wage rate, but she said it should be made mandatory for all employers to allow Filipino domestic workers to cope with the rising cost of living. “It must be across the board. As it is, per study of ILO [International
Labor Organization], there are significant pay gaps between the migrants compared to local workers,” Sana said in Filipino in a Viber message to the BusinessMirror.
Based on the said 2020 ILO study the mean pay gap between migrant workers and non-migrant workers in the care economy is approximately 19.6 percent per hour in high income countries.
The same report also showed that the aggregate pay gap between all migrant workers and non-migrant workers is at 17.1 percent in the sample countries.
“When the entry level salary of US$400 was promulgated in 2007— it became the ceiling for many [host countries], instead of the floor level. Since 2007—there has been no increment at all. A part of the basic right of the worker is a decent wage,” she added.
Additional skills
DMW also recognized the need to raise the minimum wage for Filipino domestic workers, comparing it to
the rising minimum wage for local workers in Metro Manila, which rose from P350 per day in 2006 to P645 per day in 2025.
However, some countries have expressed concern or opposed the new minimum wage rate, which compelled DMW to review the implementation of the US$500 monthly minimum wage rate.
Sana, who attended the stakeholder consultations conducted by DMW, the increase may apply to Filipino domestic workers, who will be able to obtain additional skills.
“There were discussions on whether our MDWs [migrant domestic workers] will be required to have additional skills to justify the [wage] increase,” she said.
Under the Household Service Workers’ (HSW) Policy Reform Package, all Filipino domestic workers must at least have a Domestic Work National Certificate (NC) II from the Technical Education and Skills Development Authority (TESDA) before they can work abroad.
Samuel P. Medenilla
Elderly couple missing in zigzag highway landslide in Quezon, Bukidnon
By Manuel T. Cayon @awimailbox
DAVAO CITY – An elderly couple was declared missing in a landslide on late Saturday in a mountain zigzag road connecting this city with the municipality of Quezon, Bukidnon.
The municipal government of Quezon said rescuers already dug up the couple’s “bao-bao,” a three-wheeler cab, that witnesses have said they saw that fell off the ravine in Mountain
Overview, Sitio Kipolot, Barangay Palacapao, when a 100-meter long three lane part of the Davao-Bukidnon road yielded to the landslide. The landslide happened in the evening of Saturday. Rescuers from various government agencies in Quezon and the province of Bukidnon already found the green-colored bao-bao cab but none of the couple was found. The rescuers included those from the police, the Army, the Municipal Disaster Risk Reduction
and Manangement Office, Bureau of Fire Protection, municipal engineering office, the Department of Public Works and Highways, and members of the Barangay Tanod of Barangay Palacapao.
DPWH personnel already cordoned off both sides of the highway and diverted traffic to alternate routes. It said that for trucks and other heavy vehicles, they may take road in Maramag (via Camp One) to Damulog in Bukidnon to Carmen, Kabacan, Matalam and Kidapawan towns
of North Cotabato, to Bansalan and Digos City of Davao del Sur to Davao City.
For cars and other light vehicles, they may take the Valencia City and San Fernando highway in Bukidnon, connecting to the towns of Talaingod, Kapalong, Tagum City and Panabo City of Davao del Norte, to Davao City.
Quezon municipal Mayor Poling Lorenzo III has asked municipal personnel to update him of the progress of the rescue and has coordinated with the DPWH to open the access roads.
Oil price adjustments: Gasoline up, diesel and kerosene down on Tuesday
at 6 a.m. on Tuesday, October 21.
ODPWH to fill 2,000 vacant positions, gives JO employees and young engineers priority
By Lorenz S. Marasigan @lorenzmarasigan
THE Department of Public Works and Highways (DPWH) will immediately fill nearly 2,000 vacant positions nationwide as part of efforts to accelerate infrastructure services, Public Works Secretary Vince Dizon said Monday.
During the flag raising ceremonies at the agency’s headquarters, Dizon said the job vacancies will provide opportunities for stafflevel and job order employees to “advance” in their careers within the government.
He said that current employees, especially those in the job order (JO) status, will be given priority consideration for the vacant positions.
“We need to elevate deserving, honest, hardworking people here in DPWH, including job order employees. Just because you’ve been a JO for a very long time doesn’t mean you don’t have the right and opportunity to move up,” Dizon said in Filipino. “You will be first in line for these nearly 2,000 vacancies all over the country.”
Job order employees, who typi -
cally work on a contractual basis without the benefits and security of regular government positions, have long advocated for regularization and career advancement opportunities within their respective agencies.
Dizon also promised to fix the disbursement of salaries and wages within the agency. Furthermore, Dizon said that the agency will revive the Cadet Engineering Program, which was originally established by former Secretary Rogelio Singson in 2013.
He explained that the program’s return would be instrumental in encouraging young and newly graduated engineers to contribute to infrastructure development throughout the country.
“This is excellent for bringing fresh blood into DPWH... new engineers who just passed, who are just starting to work. That’s why we’re reviving the Cadet Engineering Program,” Dizon said. The Cadet Engineering Program is designed to attract and train new engineering graduates, providing them with hands-on experience in public infrastructure projects.
Typhoon-hit Masbate schools near repair completion, Angara reports
By Claudeth Mocon-Ciriaco @claudethmc3
EBy Lenie Lectura @llectura
IL companies on Monday announced mixed movement on pump prices of petroleum products.
Effective Tuesday, gasoline prices will go up by P0.10 per liter.
A per liter of diesel and kerosene, meanwhile, will be reduced by P0.70 and P0.60.
The adjustments will take effect
This week’s price adjustments were brought about by crude oil oversupply, the cuts on the global oil demand forecast and the dissipation of geopolitical risks.
Oil firms adjust their pump prices weekly to reflect movements in the world oil market.
Last week, oil firms increased gasoline prices by P0.30, while rolling back kerosene by P0.20.
DOST steps up nutrition label checks in Mindanao
By Bless Aubrey Ogerio
THE Department of Science and Technology (DOST) is stepping up efforts to ensure the accuracy of nutrition labels and strengthen food testing standards in Northern Mindanao.
Laboratory analysts from the DOST Northern Mindanao Regional Standards and Testing Laboratory (RSTL) recently completed a refresher course on nutrition labeling and quality control protocols to improve laboratory precision and reliability.
The training, held from September 30 to October 1 at the Food and Nutrition Research Institute (FNRI) in Taguig City, focused on updating regional analysts with international and national standards on nutrition labeling and laboratory validation methods.
The initiative aims to ensure that food packaging information, such as calorie counts, macronutrient values, and serving sizes, is backed by verified test results
and scientifically sound processes.
The enhanced laboratory capacity, per DOST, will benefit small and medium food manufacturers in Northern Mindanao, many of whom rely on government laboratories for compliance testing.
The move is also expected to support industry competitiveness and consumer protection through more credible and transparent food information.
The initiative aligns with the Food Safety Act of 2013, which seeks to strengthen the country’s food safety system and protect consumer health, as well as the Food and Drug Administration Order 30, which provides updated rules on the labeling of prepackaged food products to promote fair trade and truthful information.
Moreover, recent data from FNRI’s Food and Vegetable for Sustainable Healthy Diet (FRESH) Project showed that many Filipinos still fall short of recommended daily intakes of fruits, vegetables and protein-rich foods.
DUCATION Secretary Juan Edgardo “Sonny” Angara reported on Monday reported that several schools damaged by typhoon “Opong” in Masbate are now nearing completion of repair works, with some already fully restored. Angara who led an inspection of the Department of Education’s (DepEd) recovery efforts at Masbate Comprehensive National High School and Nursery Elementary School, two of the most affected campuses, where he saw first-hand the quick progress of rehabilitation works being carried out by the agency in coordination with the Department of Public Works and Highways (DPWH) and local government units.
At Nursery Elementary School, minor repair of damaged roofs, ceilings, and electrical wirings has already reached 100 percent completion, while school building repairs are at 40 to 45 percent completed.
At Masbate Comprehensive National High School, multistory buildings and other structures are between 30 to 90 percent finished.
“Ang kabilin-bilin ni Pangulong Bongbong Marcos sa pagtulong sa mga naapektuhan ng kalamidad: hindi aalis ang tulong ng national government hangga’t hindi tuluyang nakakabangon ang ating mga kababayan,” Angara said. He added, “Sa utos ng Pangulo, agad nating sinimulan ang pagkukumpuni ng mga paaralan dito sa Masbate,” Angara added. Gusto nating matiyak na tuloy ang pag-aaral kahit tinamaan ng bagyo, at mas handa tayo sa mga darating pang sakuna.” DepEd data show that 1,651 classrooms—most in Masbate City—were damaged by the typhoon, with estimated losses amounting to P1.079 billion.
The agency has already
downloaded P14.4 million to the Schools Division Offices of Masbate and Masbate City for cleanup and minor repairs and has requested an additional P23.4 million to sustain ongoing rehabilitation.
The DepEd Disaster Risk Reduction and Management Service (DRRMS) has also allocated 20 upgraded temporary learning spaces in the ongoing emergency procurement to accommodate learners from schools still under repair.
DepEd said it expects most of the remaining major repair works to be completed between December 2025 and February 2026, while funding for the replacement of totally damaged classrooms is being programmed under the Basic Education Facilities Fund (BEFF) 2026 and the Quick Response Fund (QRF) 2026. Earlier in the day, Angara also joined Special Assistant to the President Antonio Lagdameo Jr., Social Welfare and Development Secretary Rex Gatchalian, Tourism Secretary Christina Frasco, and local officials in visiting an outreach station storage facility in Masbate City, where they inspected the nursery of pili and cacao seedlings, led the distribution of palay and corn seeds to local farmers, and toured a livestock area as part of the government’s livelihood recovery support for communities affected by typhoon Opong.
He also attended a Department of Social Welfare and Development (DSWD) payout for 500 tourism workers held at the Magallanes Coliseum, underscoring the government’s inter-agency commitment to both education and livelihood recovery in the province.
Angara was welcomed by Masbate Governor Richard Kho, who pledged continued support for the province’s education rehabilitation efforts. DepEd has likewise directed its regional offices in Cebu and Davao to expedite the assessment and repair of schools affected by the recent earthquakes.
DOH reassures public: No new virus strain, just seasonal flu
By Claudeth Mocon-Ciriaco
T@claudethmc3
HE Department of Health
(DOH) on Monday reiterat -
ed that there is no unusual or new virus or strain circulating amid the spread of influenza-like illnesses (ILI), prompting the provincial government of Quezon to order the mandatory wearing of face masks both in indoor settings and outdoor areas.
When asked if they will recommend the same in Metro Manila, Health Assistant Secretary and Spokesperson Albert Domingo responded that the local government units (LGUs) are empowered by Republic Act No.11332 to determine public health measures appropriate for their respective settings.
He said that their recommendations will always be based on “data and evidence.”
“Our advice remains the same: it is the flu season, and to help prevent spread, it is good public health practice to keep hands clean, wear face masks when with symptoms or to protect yourself,
be vaccinated, cover coughs, eat healthy diets, exercise, avoid smoking/vaping and drinking, and have adequate rest,” the DOH official said.
The DOH reported that there were 6,457 additional cases of ILI recorded from September 28 to October 11, 2025.
According to the DOH, the cases recorded is lower by 39 percent as compared to the 10,740 recorded on September 14 to September 27, 2025.
“ Bagamat maaari pang magbago dahil patuloy ang surveillance, mas mababa rin ito ng 25 percent kaysa sa naitalang 8,628 na kaso sa parehong panahon noong 2024,” the DOH added.
Earlier, Health Secretary Teodoro Herbosa clarified that there is no flu outbreak but a seasonal respiratory illnesses and that there is no need for a lockdown.
The top three causes of ILIs are Influenza A, Rhinovirus, and Enterovirus. SARS-CoV-2 (which causes Covid-19) is at a low rank number 10, accounting for only 1 percent of cases positive for ILI, the DOH said.
DPWH completed only 22 classrooms for 2025–Bam
By Butch Fernandez @butchfBM
SENATOR Bam Aquino has expressed dismay over the Department of Public Works and Highways’ (DPWH) revelation that it has completed the construction of just 22 classrooms for 2025.
“You can’t explain that. Even just saying it, sumasakit iyong puso ko na 22 lang ang nagawang classroom,” Aquino said during the DPWH budget hearing after DPWH Secretary Vince Dizon said that only 22 out of the 1,700 target have been completed.
At this rate, Aquino said the classroom backlog will reach 200,000 by 2028.
“Ang estimated current classroom backlog natin ay 146,000. By 2028, if we continue at this rate, aabot tayo ng 200,000,” emphasized Aquino, chairperson of the Senate Committee on Basic Education.
Dizon said the DPWH will look into the cause of delay and find a way to fast-track the construction of classrooms. He also expressed his full
support for Aquino’s ClassroomBuilding Acceleration Program (CAP) Act, which was recently certified as a priority measure by President Ferdinand Marcos as a means to address the classroom backlog in public schools.
“We are in full support of this measure, especially now na dalawampu’t dalawa pa lang ang nagagawa ng departamento ngayong taon. Kailangan po talaga natin ang tulong ,” Dizon said, adding that the agency is also looking at partnerships with local government units to hasten classroom construction.
“At this rate, it’s virtually impossible na magawa ng DPWH itong kailangan nating mga classrooms,” he admitted.
The proposed bill aims to decentralize classroom construction by expanding the mandate beyond DPWH to include local government units and non-government organizations with a proven track record. They can then build classrooms in compliance with the Department of Education’s standards and guidelines within their jurisdictions.
DMW probes manning agency, foreign principal over Pinoy seafarer’s death in Houthi attack
By Samuel P. Medenilla @sam_medenilla
THE Department of Migrant Workers (DMW) is now looking at the possible liability of the manning agency and foreign principal of the Filipino crew member of the MV Minervagracht after it was attacked by Houthi rebels last month.
Last Sunday, the remains of the said OFW was finally repatriated and was received by the Department of Migrant Workers (DMW), Overseas Workers Welfare Administration (OWWA), and the concerned licensed manning agency.
“The DMW is currently conducting a thorough investigation to determine whether the manning agency and the foreign principal are responsible so that appropriate sanctions can be imposed if proven to have violated its existing policies,” DMW said in a statement. The remains was initially brought to the OFW’s wife in Iligan and then to his parents and other relatives in Zamboanga del Sur.
“The Department of Migrant Workers extends its deepest condolences to the family of the deceased Filipino seafarer, and assured continued assistance and support in accordance with the instructions
OCTA survey: Corruption breaks into top 5 national issues amid rising prices
By Jovee Marie Dela Cruz @joveemarie
ALONGSIDE the rising cost of basic commodities, public concern over government corruption has soared to its highest level on record, breaking into the top five most urgent national issues for the first time, according to the latest Tugon ng Masa (TNM) survey conducted by OCTA Research.
The nationwide survey, conducted from September 25 to 30, 2025, found that 31% of adult Filipinos now consider corruption an urgent national concern—an 18-point jump from 13% in July 2025. The unprecedented rise indicates a major shift in public priorities from purely economic issues to questions of integrity and accountability in governance.
“This is the first time that corruption has entered the top five national concerns,” OCTA said, noting that the surge reflects a
growing public demand for honesty and transparency in government.
Despite the rise in corruption concerns, controlling the prices of basic goods and services remains the top national issue, cited by 48% of respondents—down slightly from 50% in July.
This was followed by fighting corruption (31%), access to affordable food (31%), improving wages (27%), and reducing poverty (23%).
Concern over job creation, which previously ranked among the top five, fell sharply to 19% this quarter—a seven-point decline from 26% in July. OCTA said the drop may suggest “a perceived improvement in employment conditions or a redirection of public focus toward governance issues.”
The call to fight corruption is strongest in the National Capital Region (53%), while Mindanao (18%) registers the lowest concern. The issue resonates most among Class ABC (40%),
More special voter registration sites to open soon–Comelec
By Justine Xyrah Garcia
THE Commission on Elections (Comelec) will open more special registration sites across the country to make it easier for Filipinos to register without having to go to local poll offices.
Comelec Chairman George Erwin M. Garcia said the “Register Anywhere Program,” which allows applicants to register at select locations regardless of their residence, will soon be implemented in all highly urbanized cities and capital towns nationwide.
of President Ferdinand R. Marcos Jr.,” DMW said.
The agency called on the public to pray for the deceased crew member. MV Minervagracht was damaged by an explosive device on 29 September 2025. The incident resulted in the evacuation of the cargo ship including a Russian, a Ukrainian, Sri Lankans, and 12 Filipinos. One of the said Filipino crew members of MV Minervagracht died after being injured from the incident.
The 10 other Filipino crew members of the cargo ship returned home safely on October 4, while the other seriously injured crew member was repatriated on October 10.
In a related development, OWWA also reported the arrival of the 19 OFWs from Jeddah, Kingdom of Saudi Arabia via Saudia Flight SV870 at the Ninoy Aquino International Airport (Naia) Terminal 1 on 19 October 2025. The said OFWs sought repatriation due to labor-related cases, welfare issues, and humanitarian concerns.
Upon their arrival, they were given immigration assistance, food packs, financial assistance, transport support, and temporary accommodations. Since January, almost 400 OFWs were successfully repatriated by OWWA and DMW from Jeddah.
“We hope our fellow Filipinos take advantage of this while lines are still short. Please don’t wait for the last minute because we don’t extend these types of registration periods,” Garcia told reporters in a chance interview at the Parañaque Integrated Terminal Exchange (PITX).
Garcia, who personally visited the PITX registration site, said Comelec will also open additional sites in airports, hospitals, and data centers that will operate beyond regular hours to accommodate those working night shifts.
Aside from new voter applications, the special registration sites will also process reactivation, transfer, record updates, and even free issuance of voter’s certifications.
The poll chief reminded registrants to bring at least one government-issued ID—excluding police clearances, barangay certificates, and cedulas.
“Any valid government-issued ID, even a student or senior citizen ID, will do as long as it clearly shows proof of identity and residence,” he added.
Beyond these special registration sites, local Comelec offices will also continue accepting applications
compared to Class D (31%) and Class E (24%).
Meanwhile, concern over rising prices remains highest in Mindanao (53%), butleast cited in NCR (17%), while access to affordable food is most pressing in Balance Luzon (36%).
The call to increase wages is most pronounced in NCR (33%), the Visayas (29%), and Balance Luzon (28%), with Class D (29%) leading this concern.
Reducing poverty, on the other hand, is most often cited in Balance Luzon (27%) and among Class E respondents (28%), reflecting continuing struggles among lower-income households.
Personal concerns DESPITE changing national priorities, Filipinos’ personal concerns have remained stable.
The most urgent personal concern continues to be staying healthy and avoiding illness (63%), followed by having enough to eat every day (49%),
finishing schooling or providing education for one’s children (49%), having a secure and wellpaying job (46%), and avoiding being a victim of crime (38%).
“While national anxieties are shifting toward governance, everyday worries—health, food, and education—still define the lived reality of most Filipino families,” OCTA said.
Health concerns remain highest among Class ABC (80%), while food security is most pressing in Mindanao (56%) and Visayas (55%).
“Overall, these results indicate that personal priorities among Filipinos have mainly remained stable through the third quarter of 2025, with only minor shifts across categories. While national concerns have shifted toward issues of governance and corruption, personal concerns continue to center on health, food security, and education—core pillars of family welfare and daily stability,” OCTA added.
until May 18, from 8 a.m. to 5 p.m., Mondays to Saturdays, including holidays.
Garcia said the ongoing registration period, which runs for nearly seven months, is expected to add at least 1.4 million new voters for next year’s barangay and Sangguniang Kabataan (SK) elections.
He added that Comelec’s 2026 budget already accounts for a potential increase in registrants.
“We believe the number of precincts we have proposed is sufficient, since not all will be filled. We can assign new voters either to newly created precincts or to existing ones with available space,” he explained.
BARMM residents still excluded GARCIA reiterated that the voter registration rollout does not include the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
However, he said Comelec will still accept applications from BARMM residents at special registration sites, though these will only be processed at a later date.
“If you happen to register at a special site and you’re from Bangsamoro, we will still accept your application. But Comelec will not yet take action to approve or disapprove it,” he clarified.
According to Garcia, applications from Bangsamoro voters will likely be processed by the Election Registration Board around May, once the region’s parliamentary elections—expected to be held no later than March 31, 2026—have concluded.
Comelec earlier said voter registration in BARMM will resume only after theparliamentary elections, as only those already registered for the May 2025 midterm polls will be allowed to vote for parliament.
$38 billion at risk: US bill threatens PHL BPO sector
THE Philippine Business Process Outsourcing (BPO) sector stands as a towering achievement and an undeniable cornerstone of our national economy. It is the engine driving nearly 10 percent of our GDP, the employer of 1.82 million Filipinos, and the generator of a staggering $38 billion in vital revenue annually. Its projected growth to 2.5 million jobs and $59 billion by 2028 paints a picture of continued prosperity. Yet, this vital pillar faces an existential threat from across the Pacific, demanding immediate, decisive, and strategic action from the Marcos administration.
The proposed US “Keep Call Centers in America Act of 2025” is not merely protectionist noise; it is a potential wrecking ball aimed squarely at the heart of our BPO industry. The warnings from the Center for Trade Union and Human Rights (CTUHR) and the BPO Industry Employees Network (BIEN) of a “massacre of jobs” are not hyperbolic fearmongering. They are a chillingly realistic assessment of the bill’s potential impact. (Read the BusinessMirror story: “Brace for possible BPO jobs ‘massacre,’ government advised,” October 17, 2025.)
The mechanics are clear and punitive: Companies shifting more than 30 percent of call center operations offshore would be blacklisted, losing access to crucial US federal funding and contracts. US customers would gain the explicit right to demand redirection to US-based agents. The intent to repatriate jobs is unambiguous, and the Philippines, as a global leader in BPO services, stands directly in the line of fire. Millions of Filipino families, reliant on BPO incomes, and the nation’s entire economic equilibrium, face profound disruption. The government’s current posture—a hesitant “wait-and-see”—is dangerously inadequate. CTUHR is absolutely right: we cannot afford complacency. The potential scale of this crisis demands proactive, multi-pronged strategies now.
First, and most urgently, worker protection must be paramount. The government needs to establish concrete protocols to ensure that any potential job losses are managed with the utmost fairness and humanity. CTUHR’s demands are fundamental: sufficient notice periods, full legal compensation, and ironclad prevention of employers using the US bill or AI advancements as pretexts for unjust terminations. Labor rights cannot be sacrificed on the altar of geopolitical shifts. The Department of Labor and Employment must be ready to rigorously enforce labor standards and provide robust safety nets.
Second, economic diversification is no longer a long-term aspiration; it is an immediate imperative. The over-reliance on the BPO sector, however successful, has always been a vulnerability. This US bill brutally highlights that risk. The government must heed CTUHR’s call to urgently convene labor, business leaders, and economic experts. The dialogue must move beyond preserving BPO dominance to actively reviving and modernizing our neglected industrial and agricultural base. A serious program of national industrialization, focused on creating high-value, sustainable, and domestically anchored jobs, is essential. We must build economic resilience that is not hostage to foreign legislative whims.
Third, diplomatic and industry engagement is crucial. While respecting US sovereignty, the Philippine government, alongside industry bodies like IBPAP, must actively communicate the mutually beneficial nature of the BPO partnership and the potential negative consequences of the bill for both nations. Exploring alternative markets and service diversification within the BPO/IT sector itself (moving further up the value chain beyond voice services) is also critical.
The $38 billion lifeline and the livelihoods of nearly two million Filipinos are under direct threat. The “Keep Call Centers in America Act” is a storm cloud darkening our economic horizon. It would do well for the Marcos administration to act with speed and determination: shield our workers with unwavering commitment to their rights, aggressively pursue economic diversification to build genuine resilience, and engage strategically to mitigate the fallout. The future employment and well-being of millions of workers depend on the government’s timely response.
Opinion
Philippines: More African than Asian
ICabangon
T. Anthony C. Cabangon
Lourdes M.
John Mangun
OUTSIDE THE BOX
F corruption were an Olympic sport, some nations might have more gold than their central banks. Rather than keeping score, it is more useful to understand the game: how corruption mutates, survives, and adapts—especially across Africa and Asia, where the disease is shared but the symptoms differ.
On the surface, corruption thrives where institutions are weak, accountability is thin, and political survival depends on patronage. In Sub-Saharan Africa, Transparency International’s 2024 Corruption Perceptions Index gives an average score of 33 out of 100; and 90 percent of countries in the region scored below 50. Asia-Pacific fares somewhat better at 44, only a point above the global average of 43—an improvement in arithmetic but not in consequences.
Africa’s story often reads as grand theft. Corruption there is not merely bureaucratic friction; it is the “ayuda”, health care, and infrastructure budgets being treated as private accounts. Misallocated funds do not simply pad wallets; they collapse hospitals, keep children out of school, and allow roads to vanish in the rainy season. In too many places the state functions less as a public service and more as an ATM for extracting wealth.
The irony is stark: the richer the government, the poorer the development outcomes can be, because public spending becomes a way to capture rather than to distribute
public value.
Asia’s corruption wears a fancier suit of clothes. It can be systemic but operationally “efficient”: petty bribes and insider deals sometimes grease bureaucratic gears enough to keep growth moving. In countries with strong centralized capacities, corruption may coexist with rapid economic expansion. In others, graft functions as an informal toll that companies and citizens learn to budget for. That does not make it harmless. These hidden costs distort incentives, reward connections over competence, and erode the social trust on which innovation depends. Managed corruption may sustain short-term growth, but it mortgages future fairness and resilience.
The Philippines sits somewhere in the middle of this moral Venn diagram. In Corruption Perceptions Index 2024 the Philippines scored 33 and ranked 114th out of 180 countries. That places the country closer to the Sub-Saharan average than to the better performers in Asia-Pacific.
Singapore scored 84, Malaysia 50, China 43, and Indonesia 37. That positioning translates into real costs: higher perceived risk for foreign in-
Laws are necessary but not sufficient. Corruption does not fear statutes; it fears light. Light exposes, but it does not always deter. Corrupt systems often adapt, finding new shadows. But corruption does not just fear exposure; it fears consequences. Until those hit hard and consistently, the game will keep being played and you will always be the loser.
vestors, unpredictable enforcement, and a routine premium for “speed” that discourages honest newcomers and raises project costs. For citizens it shows up as delayed and substandard infrastructure, underperforming health programs, and disaster preparedness that remains inadequate for an archipelago exposed to frequent extreme weather.
Flood control has become a particularly visible flashpoint. Allegations of padded contracts, technical specifications ignored, and ghost projects have stirred public anger precisely because citizens can see what is not being built. Recent national polling and surveys show overwhelming public perception that corruption is widespread and that “official” collusion on infrastructure projects is a dangerous problem. These perceptions have driven protests and intensified demands for accountability.
Across both continents a few jurisdictions demonstrate that cleaner governance is attainable. Reform and enforcement can make a positive difference. In the Philippines, digital procurement tools, disclosure platforms, and expanded access
Australia pitches to be Trump’s fix for China rare earths curbs
By James Mayger
A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan
BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga
817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.businessmirror.com.ph
AUSTRALIA’S prime minister is set to pitch his nation’s vast resource holdings as a solution to China’s rare earth curbs at a meeting Monday with President Donald Trump, as the US and other countries scramble to diversify supply of critical minerals.
Anthony Albanese is due to meet with Trump at around 11 a.m. in Washington and will aim to use the sit down to secure an agreement with the US on critical minerals. He is also expected to seek assurances on the administration’s commitment to the Aukus pact under which the US is due to help supply Australia with nuclear submarines. China’s move to impose unprecedented export restrictions on the rare-earth supply chain dominated discussions last week among global
finance chiefs in Washington. Treasury Secretary Scott Bessent suggested a united front is forming, saying US officials are in talks with “European allies, with Australia, with Canada, with India and the Asian democracies” about a response. Albanese follows a string of counterparts in traveling to Washington to try to shore up ties with the US while avoiding a blowup with the mercurial president. While Australians remain pro-US alliance, they are also antiTrump and worried about the outlook
Ahead of Monday’s meeting, Ambassador to Washington Kevin Rudd highlighted Australia’s capacity to offer solutions to the critical minerals threat to western economies in a sales pitch to the Trump administration.
for American democracy, a survey released last week showed. As a result, Albanese needs to strike a delicate diplomatic balance.
Ahead of Monday’s meeting, Ambassador to Washington Kevin Rudd highlighted Australia’s capacity to offer solutions to the critical minerals threat to western economies in a sales pitch to the Trump administration.
“Australia equals the periodic table,” he said in a speech in Washington last week. “Having it is one
to information signal constructive measures, but policy instruments require consistent enforcement to produce durable change. What does reform demand? Independent judiciaries, transparent procurement, empowered auditors, and credible whistleblower protections are critical. More important is political will. Patronage is the oxygen of many political machines; cutting it off will feel disruptive to those who benefit. That is precisely why leadership matters. Government is about making decisions that are inconvenient for the powerful but necessary for the many.
Corruption, whether in Lagos or Manila, is less a moral failing than a problem of incentive design. Africa shows what happens when graft hollows out state capacity. Asia shows how “manageable” corruption can still corrode long-term trust. The Philippines stands at a crossroads between the two paths. It can accept a steady, corrosive convenience or choose the slower, harder route that builds institutions and accountability. In the end, accountability is not born of outrage alone; it is built by citizens who keep score, demand proof, and refuse the comfort of silence. Laws are necessary but not sufficient. Corruption does not fear statutes; it fears light. Light exposes, but it does not always deter. Corrupt systems often adapt, finding new shadows. But corruption does not just fear exposure; it fears consequences. Until those hit hard and consistently, the game will keep being played and you will always be the loser.
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.
thing—knowing how to mine it, as mining is a high-tech business, is another—and we have the world’s biggest and best miners.” Rudd pointed out that the US has a deficiency in the 50 designated critical minerals and rare earths and that with investment from both sides, Australia “can meet 30 to 40 of those without much additional effort, most particularly in terms of processed rare earths.” For some time, market participants have been optimistic that Canberra and Washington would seriously discuss Australia’s ability to deliver secure shipments of rare earths and help the US develop its own capacity. Investors have been betting on companies that will benefit from US support, with miners like Lynas
A trader’s guide to China’s biggest political meeting of 2025
APIVOTAL political gathering in Beijing this week could deliver fresh policy measures to extend China’s strongest equity rally in eight years and shore up the yuan, as investors weigh risks from escalating US trade tensions.
The Central Committee of the Communist Party will hold a four-day meeting, known as its Fourth Plenum, starting Monday to review main themes of the 15th five-year plan. While a detailed plan will only be released March next year, investors will scrutinize the post-meeting readout for any policy signals ahead of the likely meeting between President Xi Jinping and his US counterpart Donald Trump.
While investor expectations seem modest, the event could help extend gains in Chinese stocks, especially in technology, solar and the consumer sector.
The MSCI China Index has rallied about 30 percent this year, on track for the best year since 2017, driven by AI optimism. Any remarks on stabilizing the yuan or boosting its global use may also firm up market expectations the central bank will stabilize the currency against volatility triggered by trade tensions.
“We expect continuity in supply-side priorities, with AI featuring more prominently under the ‘new productive forces’ banner alongside advanced manufacturing,” said Gary Tan, a fund manager at Allspring Global Investments in Singapore. “Any short-term measures to boost consumption after Golden Week would be a positive surprise, as the market is not pricing in aggressive stimulus.”
Here are some sectors that money managers will be watching as the plenum begins:
‘Anti-involution’ INVESTORS will be watching for signs that the meeting may advance President Xi’s “anti-involution” campaign—a push to curb cutthroat competition and price wars. The push campaign intended to counter deflation has been in full swing for the last three months, and has bolstered stocks in sectors such as steel, solar and autos.
An example of the campaign to curb overcapacity has been the temporary halts to lithium mining announced by some local authorities, which have boosted the shares of producers. Ganfeng Lithium Group Co. has more than doubled this year, while Tianqi Lithium Corp.’s Hong Kong shares has risen about 80%.
“Anti-involution is the key to profitability, and if the government places a higher emphasis on it, some of the relevant stocks can run,” said James Wang, head of China strategy at UBS Investment Bank Research in Hong Kong. Solar and lithium stocks would see the strongest rebound in case of related announcement as they are cheap or their net profit margin is low, he said.
Chips, robots ANOTHER area that may benefit from policy initiatives from the plenum is technological innovation. Beijing has been seeking to reduce dependence on foreign technology, with steps such as urging local companies to avoid using Nvidia Corp. semiconductors.
China’s homegrown chipmakers have surged this year amid more demand for local suppliers, with shares of Hua Hong Semiconductor Ltd. rising 250 percent in Hong Kong, and those of Semiconductor Manufacturing International Corp. gaining 117 percent. Robot manufacturer UBTech Robotics Corp. has surged close to 123 percent this
Investors will be watching for signs that the meeting may advance President Xi’s “anti-involution” campaign—a push to curb cutthroat competition and price wars. The push campaign intended to counter deflation has been in full swing for the last three months, and has bolstered stocks in sectors such as steel, solar and autos.
year after winning a number of large-scale orders.
“Certain pockets of the tech sector look expensive, but overall the internet and semi sector is not,” said Jian Shi Cortesi, a fund manager at GAM Investment Management in Zurich. “It’s still the area that offers the best opportunities in China equities.”
Consumption sector
CHINESE Premier Li Qiang renewed a call for consumer spending to play a greater role in the economy just days before the plenum, signaling Beijing’s intent to reduce reliance on exports. That was after tepid spending during the eight-day Golden Week holiday provided further evidence of consumers’ budget-conscious behavior.
Beijing has already rolled out measures to spur domestic demand, including childcare subsidies, elderly care reforms and a consumer goods trade-in program. These initiatives have helped power gains in shares like digital health-care provider Alibaba Health Information Technology and home appliance maker Hisense Visual Technology Co.
“We reiterate our recommendation of buying China new consumption names heading into the Fourth Plenum, as lukewarm Golden Week tourism spending has increased expectations for supportive domestic consumption policies,” JPMorgan Chase & Co. strategists led by Tony Lee wrote in a recent note. “This creates an attractive entry point for high-quality consumer stocks,” they said, adding that toy-maker Pop Mart International Group Ltd. looks attractive after its recent pullback.
Yuan globalization
CURRENCY traders will be watching the outcome of the plenum to see whether Beijing will step up its efforts to promote the yuan’s global usage. The authorities in June responded to the weakness in the dollar by introducing a sweeping campaign to support that process.
President Xi has urged efforts to build China into a financial power, including developing a strong currency and robust central bank. The yuan is seen as underrepresented in global financial transactions compared to the size of China’s economy, partly due to strict capital controls and a lack of liquidity in the currency beyond the country’s borders.
“We expect the five-year plan will fine-tune the language on renminbi internationalization to promote the use and status of the currency more proactively,” Standard Chartered Bank economists Shuang Ding and Hunter Chan wrote in a research note this month. There could be measures outlined in the five-year plan for promoting yuan crossborder payments, they said. With assistance from Jeanny Yu/Bloomberg
Murder by appointment: South African lawyers face assassination
By Antony Sguazzin & Ntando Thukwana
LAST month, two assassins made an appointment to see bankruptcy lawyer Bouwer van Niekerk. After he identified himself, they shot him dead in the boardroom of his firm’s offices on a sunny morning in leafy northern Johannesburg.
Van Niekerk’s brazen murder is part of a growing trend in South Africa, a country long dogged by violent crime—the targeting of professionals instrumental in fighting corruption by hit-men. The names of slain lawyers adorn a Wall of Remembrance that the National Prosecuting Authority erected in 2023 in the capital, Pretoria, an hour’s drive north of Van Niekerk’s office.
Some 13 insolvency practitioners, tax consultants and other professionals were assassinated in 2022 and 2023, the latest years for which data is available, research by the Global Initiative against Transnational Organized Crime shows. Judges, lawyers and forensic accountants who fear they could be next are having their cars armor-plated.
“In the 40 years I’ve worked in the field, I’ve felt prosecutors in this country could be safe,” Shamila Batohi, the national director of prosecutions at the NPA, told a briefing last month. “That’s no longer the case. This is a very serious concern for the country.”
While South Africa is notorious for car hijackings, home invasions and random violence, the assassinations of those trying to combat graft illustrates just how deeply it has been infiltrated by organized crime rings. The number of contract killings is beginning to put the country in the same basket as Mexico and Colombia.
Law-enforcement agencies ren-
dered inept by political interference during former President Jacob Zuma’s almost nine scandal-marred years in office have made little headway in tackling the problem, despite incumbent leader Cyril Ramaphosa’s repeated pledges to institute a crackdown.
The threat faced by professionals is eroding investor confidence, imperiling his aim of firing up a stuttering economy.
Assassinations “naturally induce a reluctance to take on these highprofile, complex matters,” said JoAnne Mitchell Marais, the chairwoman of the South African Restructuring & Insolvency Practitioners Association, or Saripa, which represents more than 800 professionals in the field. “There is a hesitance. Is it worth the risk?”
Kurt Knoop, who was helping Van Niekerk investigate a suspected cryptocurrency Ponzi scheme, is among those who consider the danger too great. He received a death threat and stepped away from the probe after his business partner’s murder. No one has been arrested in connection with the killing and the authorities haven’t named any suspects.
“If we lose that confidence that can have a hugely detrimental effect,” Mitchell Marais said. “There’s an impact on the banking system. If we start to see recoveries impacted, that can drive up the cost of credit.”
Other high-profile hits include a
Some 13 insolvency practitioners, tax consultants and other professionals were assassinated in 2022 and 2023, the latest years for which data is available, research by the Global Initiative against Transnational Organized Crime shows. Judges, lawyers and forensic accountants who fear they could be next are having their cars armor-plated.
March 2023 drive-by shooting that claimed the lives of Cloete Murray and his son Thomas, both insolvency practitioners working on highprofile cases including one linked to state graft. The prime suspect in their murder was himself shot dead in a Johannesburg hospital parking lot this month.
In April, state prosecutor Elona Sombulula was killed with a single shot to the head in the town of Ncobo in the Eastern Cape Province. And in July, Tracy Brown, another prosecutor, died in a hail of bullets in front of her partner and child in the southern port city of Gqeberha.
The growing concern among professionals for their safety is evident at the workshop of SVI Engineering Ltd., a company that fits armor onto cars on Pretoria’s outskirts.
“If you are after corruption then you are now more likely to inquire about having your car fitted with armor plates,” said Nicol Louw, SVI’s business development director. “Judges, they’re feeling the heat at the moment. They will tell you straight, their life has been threatened.”
The buzz of heavy machinery permeates SVI’s plant as workers don visors and weld heavy metal plates
Trump lists top demands on China before trade talks resume
By Skylar Woodhouse & Philip Glamann
PRESIDENT Donald Trump listed rare earths, fentanyl and soybeans as the US’s top issues with China just before the two sides return to the negotiating table and as a fragile trade truce nears expiration.
“I don’t want them to play the rare earth game with us,” Trump said on Air Force One on Sunday, as he headed back to Washington from Florida. Days earlier, the US leader threatened a 100 percent tariff on Chinese shipments after Beijing vowed to exert broad controls on the minerals.
Trump also said the US wanted China “to stop with the fentanyl,” a reference to his accusation that Beijing has failed to curb the export of the drug and its precursor chemicals, contributing to the American opioid crisis. Another key demand was for the world’s No. 2 economy to resume soybean purchases. The three topics were all “very, you know, normal things,” he added.
Treasury Secretary Scott Bessent has said the US and China will hold talks later this week in Malaysia. That came after he met virtually with Vice Premier He Lifeng on Friday, discussions that Chinese state media described as a constructive exchange of views.
A little over a week ago, Trump raised the prospect of canceling
Australia.
. . Continued from A12
Rare Earths Ltd. trading up more than 150 percent over the past 12 months.
In meetings in Washington last month, representatives of more than a dozen Australian mining firms were told by officials from various US agencies that the administration is assessing mechanisms to take equity-like stakes in companies, people familiar with the talks said. Earlier this month, miners said they’d been
his first in-person meeting with China’s President Xi Jinping since he returned to the White House, angry over the Chinese government’s vow to exert broad controls on rare-earth elements. He also declared a 100 percent import surtax on Chinese goods to take effect November 1.
That threatens a trade truce that is set to run out on Nov. 10 unless extended. Months of tentative stability in the US-China relationship have been upended in recent weeks after Washington broadened some tech restrictions and proposed levies on Chinese ships entering US ports. China responded with parallel moves and outlined tighter export controls on rare earths and other critical materials.
When asked in an interview with Fox News on Sunday about his latest threat to raise the tariff on Chinese goods, Trump said the levy was “not sustainable” though “it could stand.”
He added that he had a good relationship with the Chinese leader, and he expected a sit-down to happen in South Korea, where an Asia-
invited to Washington to brief Rudd about their projects.
If the US were to take stakes, it wouldn’t be the first time a foreign government has invested directly into an Australian resources project. Japan injected funds into Lynas in 2011 after China blocked supplies of rare earths over a territorial dispute, and added to that investment in 2023 to secure a supply of heavy rare earths to make magnets, the exact elements China is curbing.
Despite the importance of critical minerals, prices have remained sub -
onto a van. Louw urges those at risk of being targeted to drive inconspicuous vehicles, like white Toyota Fortuners.
“If you want to keep safe, you want to blend in,” he said. “We’ve seen in the last three years, I would say between 30% and 50% year-on-year growth,” and are fitting more than 220 cars annually, he added.
Neal Froneman, who last month retired as chief executive officer of Sibanye Stillwater Ltd., South Africa’s largest employer of mineworkers, warned that companies are heavily reliant on legal professionals and investigators, who need to be able to do their work unhindered. “If we can’t manage liquidations and insolvencies, many of us will not get involved in business,” he said. Froneman, who is working with the government on crime issues on behalf of business lobby group B4SA, said he has raised the assassinations with senior state officials. Saripa is also due to meet with Justice Minister Mmamoloko Kubayi to air its concerns.
The government acknowledges there is a major problem.
“You can’t have a state that’s paralyzed because organized crime is threatening prosecutors,” Kubayi said at the same briefing as Batohi. “The lives of those who are fighting crime coming under threat is something new.”
Batohi said the NPA is already spending 34 million rand ($2 million) a year on protecting prosecutors. The justice minister promised further interventions in the next few months, but didn’t provide details.
‘It’s a terrifying state of affairs,” Mitchell Marais said. With assistance from Aisha Ziaullah/Bloomberg
Soybeans have been a key source of leverage for China in the trade dispute. Last year, China bought some $12.6 billion worth of the oilseed but this year none. China has instead turned to purchases from South America.
Pacific Economic Cooperation meeting starts later this month. “I think we’re going to be fine with China, but we have to have a fair deal. It’s got to be fair,” Trump said.
Soybeans have been a key source of leverage for China in the trade dispute. Last year, China bought some $12.6 billion worth of the oilseed but this year none. China has instead turned to purchases from South America.
Frustrations among US farmers—key to his support base—are mounting, with many running out of storage for unsold beans and facing pressure from lower prices. They are eagerly awaiting aid from Washington, which is held up because of the government shutdown.
In August, Trump urged China to quadruple its buying of soybeans from the US. Underscoring his frustration that isn’t happening, last week he threatened to stop imports of cooking oil from China, which he accused of intentionally “causing difficulty for our Soybean Farmers.”
dued, weighing on Australia’s hopes to capitalize on them and prompting the Albanese government to start working on establishing a A$1.2 billion reserve.
Aukus review
AUSTRALIA is also keen to hear the results of an ongoing US review into the Aukus pact. Officials in Canberra have been publicly confident that the wide-ranging security agreement with the US and UK will survive. Indeed, Australia has viewed the review as focused
The fentanyl issue has long been seen as an area the two sides could make progress, though it continues to bedevil ties.
Earlier this year, Trump imposed tariffs of 20 percent on all Chinese goods over the flow of illegal fentanyl into the US. Those fees stack on top of his Liberation Day levies. In June, Beijing tightened controls over two chemicals that can be used to make the drug, but China has also repeatedly said it’s up to the US to fix its drug problem.
China has tried to ease concern over the escalation of curbs on rare earths—critical to making fighter jets, smartphones and even car seats—to soften an international backlash.
In discussions on the sidelines of the International Monetary Fund’s annual meetings last week, Chinese delegates told their counterparts from around the world that tightened export controls will not harm normal trade flows, Bloomberg News reported earlier, citing people familiar with the matter. The officials said China sought to build a long-term mechanism with the measure, and it was introduced as a response to US provocations such as the expansion of sanctions to capture subsidiaries of blacklisted companies, according to the people, who asked not to be named because the exchanges were private. Bloomberg
mainly on reinforcing the pact rather than unraveling it, according to people familiar, who asked not to be identified discussing internal deliberations.
Defense Industry Minister Pat Conroy was also in Washington last week and said he had encountered positive views on the agreement.
“I was meeting with senior leaders in Congress who were evangelical about the importance of Aukus,” he said. “I also met with real positivity in my engagement at the Pentagon.” With assistance from Paul-Alain Hunt/Bloomberg
Tuesday, October 21, 2025
FORMER SBMA CHAIR TONG PAYUMO PASSES AWAY AT 88
By Henry Empeño
SUBIC BAY FREEPORT—Former Subic Bay Metropolitan Authority (SBMA)
Chairman and Bataan First District Representative Felicito “Tong” Payumo, passed away on Sunday, October 19, at age 88. The former technocrat, hailed here as a visionary who set most foundations for Subic’s economic growth, succumbed to heart attack while in Hong Kong, according to former Dinalupihan, Bataan Mayor Joel Payumo, his nephew.
An Economics cum laude from the Ateneo de Manila University with an MBA from the Harvard Business School, Payumo first worked for more than 20 years in private firms like Procter and Gamble Philippines, Mobil Corporation in New York, and Engineering Equipment Inc. before venturing into politics.
From June 30, 1987 to June 30, 1998, he served as the first representative of the First District of Bataan, where his hometown Dinalupihan is located.
It was during his stint in the 8th to the 10th Congress that Payumo’s political star shone the brightest, having authored landmark legislations like the PEZA Law (Republic Act No. 7916) and the BOT Law (Republic Act No. 6957, as amended by Republic Act No. 7718).
The Special Economic Zone Act of 1995 provides the legal framework for creating special economic zones to attract foreign investment, while the Build-Operate-Transfer provides the system for private companies to participate in financing, constructing,
and operating government infrastructure projects, and then transfer them back to the government after a set period. In 1998, Payumo was tapped by then President Joseph Estrada to head the SBMA as Chairman and Administrator.
It was during Payumo’s time when the SBMA began its P12-billion seaport modernization project, which paved the way for the start of the construction of Subic’s New Container Terminal in 2004.
He also championed the construction of the Subic-Clark-Tarlac Expressway (SCTEX), the country’s longest expressway at 93.77 kilometers, which started in 2005.
Another big-ticket infrastructure project that emerged from the extraordinary vision of Payumo is the proposed Bataan-Cavite Interlink Bridge (BCIB) that President Ferdinand Marcos Jr. has greenlighted to start
BusinessMirror
Govt, biz execs bet on tech as weapon vs corruption
By Andrea E. San Juan @andreasanjuan
TECHNOLOGY
should be used as a weapon against corruption and to increase transparency in government transactions, according to government and business leaders.
In her speech during the 51st Philippine Business Conference and Expo on Monday, Vice President Sara Duterte said beyond physical development, digital transformation will be the country’s “strategic tool” for better governance and nation-building.
“It is our tool to facilitate innovation and enhance our capabilities in delivering public services and responding to disasters, crises, and emergencies. More importantly, it can be our weapon against corruption,” Duterte said. She underscored the importance of making data and all government transactions transparent and “leave no room for scrupulous backdoor
transactions.”
In this way, the vice president said the country can take away the power of corrupt leaders to manipulate public funds and milk people’s money for their “personal interests.”
“The welfare of the people is our highest priority. Technology will be our powerful tool to impose checks and balances, monitor paper trails, eliminate arbitrary and politically motivated decision-making, and prevent unconstitutional budget insertions to curry political favor at the expense of the people’s money,” Duterte said.
The vice president also underscored the importance of using
Chinese rings colluding with local execs, biz?
By Ada Pelonia @adapelonia
ASENATOR on Monday flagged the alleged collusion among Chinese smuggling syndicates, local enterprises, and government officials that allowed the entry of smuggled agricultural products.
During a Senate hearing on the Committee on Agriculture, Food, and Agrarian Reform, Senator Francis “Kiko” Pangilinan claimed that smuggling syndicates from China, local businesses, and government officials from several agencies could be conniving. He noted that all cases of smuggled farm goods being discussed in the hearing came from China.
With this, Pangilinan said there was “sufficient, circumstantial evidence” to believe that “Chinese smuggling syndicates” were conniving with local businessmen, along with employees and officials in the Bureau of Customs, the National Bureau of Investigation, the Philippine National Police, the Department of Agriculture, even in the Department of Justice, and the Bureau of Immigration. He said such a collusion allowed them to operate freely, with government officials “occasionally raiding and seizing smuggled agricultural products to show a semblance of law enforcement while ensuring that no big-time smuggler is prosecuted for the non-bailable offense of economic sabotage.”
Pangilinan then named some foreign companies that reportedly shipped misdeclared items, which were initially stated as processed food but turned out to be onions and frozen mackerel.
He then stressed the danger brought by smuggled agricultural products, given the country’s lack of first-border facilities.
“Smuggled food poses a significant risk. There is no physical inspection or chemical analysis, nor are there tests for poison, viruses, or bacteria to determine if it is expired or fit for human consumption,” Pangilinan said.
Fund for Cefa EARLIER , Agriculture Secretary Francisco Tiu Laurel Jr. said the
agency wants to use part of the P20 billion earmarked for the implementation of a law that aims to modernize the livestock and poultry subsectors for the construction of Cold Examination Facilities for Agriculture (Cefas).
The DA would need as much as P1.5 billion to build five Cefas to prevent the entry of transboundary animal diseases and curb the smuggling of farm products, Tiu Laurel said. (See: https://businessmirror.com.ph/2025/10/09/ da-keen-on-using-part-of-livestock-poultry-fund-for-cefas/)
“The senators suggested they might find a way to fund it in the [bicameral conference], which is preferred. But if not, we might use
technology to protect people’s rights and welfare such as “the right to have better governance and the right to have better opportunities in our own homeland.”
The country’s vice president and former chief of the Department of Education (DepEd) also pointed out that the use of technology can also help in granting Filipinos the right to have leaders with “strong political will,” by putting the country’s leaders “in check when they have unforgivably gone beyond the authority that the people have vested in them.”
“Let us use technology and digital transformation as weapons to close the door where corruption once thrived, unchecked and unpunished,” Duterte emphasized.
PCCI bets on blockchain THROUGH the lens of the business community, PCCI President Enunina V. Mangio pointed out the importance of utilizing blockchain for monitoring government projects and the national budget.
In her speech, the chief of the Philippines’ largest business group underscored that blockchain technology offers “unprecedented” op -
portunities beyond cryptocurrency.
“Its applications include supply chain traceability that can authenticate Philippine exports, digital identity solutions that bring financial services to the unbanked and smart contracts that reduce transaction costs and increase trust,” Mangio said. On the sidelines of the business conference, the PCCI chief told reporters: “I just hope whoever would sit in our government will be open to all technology available, in using them to address all concerns that we have.” For instance, she said blockchain should be used to monitor government projects and the budget.
“If our government would make use of that, at least we will just monitor the quality but the progress will be monitored by that platform. So we hope that the technology available will be used,” said Mangio.
According to an earlier story in the BusinessMirror, the Department of Information and Communications Technology (DICT) is turning to blockchain as its weapon of choice against corruption, banking on the technology’s permanence to
See “Govt,” A2
PHL must rethink export dependence amid new US tariffs, says expert
By Ma. Alyanna Selda
THE Philippines should begin crafting industrial policies and redistributing its assets to create domestic demand for its commodities as the tariff imposed by US President Donald Trump weighs on the country’s exportdriven industries, an economist said.
Economist and University of the Philippines lecturer Benjamin Velasco said the impact of the 19-percent US tariff would affect not only the garments sector but also other key export industries such as agriculture and electronics.
“Those industries will be hit with the same tariff rates so they will be just as vulnerable as garment exports,” Benjamin said. “Hopefully, exporters in electronics and agriculture can also share the burden of the tariffs with their customers as some garment exporters reportedly did.”
He said factory shutdowns and production slowdowns in export industries could lead to layoffs, reduced incomes and slower growth, noting that the government is already predicting that only the low end of its 5.5 to 6.5 percent growth target for 2025 may be achieved.
In July 2025, the United States announced a 19-percent tariff on goods imported from the Philippines under its new “reciprocal trade” policy, a measure in line with the US’s push to “rebalance” trade flows.
Under the deal, the Philippines is expected to grant zero tariffs on selected American products while its own exports face the 19-percent rate upon entry to the US market.
Critics have described the policy as “lopsided,” arguing that the Philippines offered greater concessions while receiving limited relief in return.
The development has also drawn concern from local exporters, who fear higher costs could make Philippine products less competitive compared to goods from other Asian suppliers.
At last week’s budget hearing
of the Department of Trade and Industry, Senator Imee Marcos also disclosed that a garment factory in Central Luzon is considering closure amid rising production costs and tariff pressures, a move that she said could displace around 3,000 workers.
Before this, the Confederation of Wearables Exporters of the Philippines (CONWEP) said the garments industry has already shed about 50,000 jobs between 2022 and 2024, and could face further contraction following a series of wage increases and the newly-imposed US tariffs.
‘Perfect storm’
CONWEP Executive Director Maritess Jocson-Agoncillo said the industry faces a “perfect storm” of local and global challenges that have eroded its export competitiveness, noting that recent wage hikes alone have cut 2024 export revenues by about $260 million, or 25 percent, as major brands withdrew from the country.
Velasco explained that the shutdown of garment export factories would have ripple effects across related sectors such as textiles, logistics and retail.
“Although, much of these will be offshore and won’t be felt in the Philippines,” he added.
Unlike the garment sector, the impact of Trump’s tariffs on the Philippines is not yet severe enough to threaten the electronics and agriculture sectors, according to him.
“If it was, we would have heard of possible closures and layoffs. Most garments [are] exported to the US so that is a disadvantage,” he said.
“Most electronics we produce are parts that go to China, Japan, or Taiwan for final assembly before being shipped to the US.”
Reskill workers, boost local demand
VELASCO thinks the government should adopt proactive measures to cushion the impact on affected firms and workers through social protection and reskilling programs,
Editor: Jennifer A. Ng
Megawide bags terminal deal
By VG Cabuag @villygc
MEGAWIDE
Construction
Corp. on Monday said it received the notice of award from the local government unit (LGU) for the implementation of the P1.2billion Baguio City Integrated Terminal (BCIT) project after hurdling the Swiss challenge.
The said challenge was concluded last week and Megawide got the nod to serve as the private sector proponent of the project.
“Our vision of a first world Philippines goes beyond building structures and critical facilities—we also need to connect the key districts across the country to promote commerce and accelerate economic activity.
We are very thankful to our local government unit partners for shar-
Pryce: LPG lifts net income in Jan-Sept
ing our common goal and providing opportunities and platforms where socio-economic progress can thrive,” Edgar Saavedra, the company’s chairman and CEO, said. The BCIT has an estimated total project cost of P1.2 billion and will be under a 40-year lease agreement with the Baguio government. Initially targeted to serve seven southbound routes—including La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila and
PRYCE Corp. on Monday reported a 35.1-percent increase in net income for the three quarters of the year from the same period a year
driven by higher sales of liquefied petroleum gas (LPG).
Cavite—the terminal is initially designed to accommodate 25,000 passengers daily, for both long haul and daily commuters.
Last month, the company, through its subsidiary Megawide One Mobility Corp., also signed the joint-venture agreement with the Carmona LGU in, Cavite, for the development of the South Luzon Integrated Terminal Exchange (SLITX).
The SLITX is under a 30-year joint venture with the Carmona City LGU and will serve multiple destinations locations across the country—from as far north as Baguio, thru the BCIT, and as deep south as Visayas and Mindanao— with an initial design capacity for 30,000 passengers daily.
The SLITX has an estimated project cost of P800 million for the terminal and all associated work. The facility will connect to PITX and other in-city public terminals and will also have direct access to SLEX via new toll entry and exit to be built and completed before it commences operation.
For the nine-month period ending September 30 this year, the company realized an increase of P777 million year-on-year growth in consolidated net income from the same period in 2024. However, it did not provide actual figures.
With abundant transport options and park-and-ride facilities, SLITX will allow passengers from the South to directly access the central business districts in Metro Manila as well as the Ninoy Aquino International Airport.
Once completed and fully operational, these transit-centric developments are expected to complement the existing operations of PITX and provide fresh recurring revenue streams for the company.
“Landports, such as our PITX, BCIT and SLITX, as well as the ongoing Cavite BRT system, are part of the grand objective to provide the public with safe, secure, and efficient public transport while improving connectivity and enhancing mobility across key cities, initially in Luzon.
In terms of financial impact, collectively, we are looking at an annual recurring net income contribution of P300- to P400 million from these TCDs once operations reach full scale over the next 2-3 years,” Jaime Feliciano, head of business development of Megawide, said.
Consolidated revenues rose by 10.6 percent or approximately P1.63 billion higher than last year’s comparative figure, mainly due to increased sales volume in LPG and industrial gases, as well as market gains amounting to P1.6 billion. Lenie Lectura
RCI unit sells coco processing plant in Mindanao to CNPF
LISTED Roxas and Co. Inc. (RCI) on Monday said it will sell its fully integrated coconut processing facility in Mindanao to a unit of Po-led Century Pacific Food Inc. (CNPF).
The deal involves Roxas’ unit Roxas Sigma Agriventures Inc., which will sell the plant built on a 2.2-hectare property in Tupi, South Cotabato, to Coco Harvest Inc., a unit of Century Pacific.
Roxas Sigma is 95-percent owned by Roxas and 5 percent by Sigma Xynergies Corp. The said processing plant was inaugurated in 2017 and began commercial operations in 2018 by offering all-natural coconut cream and milk, coconut water concentrate and virgin coconut oil to clients globally.
“With over 150 regular employees, it is a vital livelihood provider in the local community. Additionally, as a large buyer of dehusked nuts, the facility is a positive force for the coconut industry in South Cotabato and neighboring regions,” the company said. “We are confident that Century’s plans to upgrade the facility will usher in a new phase of growth and expanded product offerings,” Antonio T. Roxas, Roxas Sigma’s business development manager, said.
No acquisition cost was declared but Century Pacific said it will spend some $45 million for the acquisition and upgrade of the facility. Payment for the facility will be made in four installments upon satisfaction of conditions, the companies said.
“Planned enhancements will further expand its capabilities to serve both domestic and export markets, adding new product lines and improving overall efficiency. The investment will be funded via the company’s internally-generated cash flows,” Century Pacific said.
“This acquisition is a milestone for our coconut business and a testament to our commitment to inclusive growth. By expanding our capacity in coconuts, we not only enhance our competitiveness in the global coconut industry but also create meaningful economic opportunities for local communities in Mindanao.
The additional capacity will allow us to innovate and serve the market with more high-quality, better-foryou coconut products, supporting our mission to deliver affordable nutrition to our consumers,” Noel Tempongko Jr., vice president and general manager of Century Pacific’s OEM Coconut Exports, said. VG Cabuag
Banking&Finance
Ilocos to get bulk of ’23 tobacco-tax collection
By Reine Juvierre Alberto @reine_alberto
TOBACCO-PRODUCING provinces are set to receive P21 billion as their share from the 2023 excise tax collections on locallymanufactured tobacco and cigarettes.
Under Local Budget Memorandum 93, the Department of Budget and Management (DBM) outlined the release and utilization guidelines for shares of local government units (LGUs) from the 2023 collections of excise tax on locally manufactured Virginia-type cigarettes and Burley
Global Diversification: Maximizing Opportunities and Managing Risks
THERE are many things happening locally and globally and we need to focus on the opportunities amid the challenges we face. In a world where economies are more connected than ever, Filipino investors must ask an important question: should they stick with local investments or look toward global markets? The answer is both. By diversifying between fixed income and equities in both global and local markets, investors can balance risk, capture growth, and build lasting wealth.
The Philippine market has much potential but represents only a small part of the global economy. Focusing solely on local investments means missing out on growth drivers elsewhere. Global equities open opportunities to innovation hubs such as the US for technology and healthcare, Europe for sustainability and infrastructure, and Emerging Asia for consumer growth.
Global fixed income markets offer chances to invest in bonds backed by strong credit-rated governments and companies. These investments can provide stability and income, especially when paired with the higher yields often available locally.
In simple terms, global diversification broadens perspectives and reduces the risks of being overly exposed to domestic issues like political changes, currency fluctuations, or natural disasters that may affect local markets.
At the same time, we must acknowledge the Philippine growth story. With its young workforce, strong consumer demand, and ongoing infrastructure investments, local equities are still appealing. Peso-denominated government securities and corporate bonds also offer steady income and competitive yields compared to markets in developed countries. Thus, the best approach is not to abandon the local market but to complement it with international investments. This strategy allows investors to benefit from both the strength of global leaders and the long-term potential of the Philippine economy.
Of course, diversification does not mean losing discipline. Effective risk management is crucial. Here are some strategies to consider:
n Asset allocation discipline. Start with a clear plan: decide how much to invest in equities, how much in fixed income, and the split between local and global markets. This should consider both risk tolerance and longterm objectives.
n Currency awareness. Investing globally brings foreign exchange risks. Choosing funds that hedge currencies or diversify across different regions can help reduce volatility. n Rebalancing. As markets change, portfolio allocations can shift. Regularly rebalancing keeps investments aligned with initial targets. For example, if you have short term goals that you need to consider, then a portion of your portfolio can be allocated in low risk, low return type of investment like money market funds. This are designed as a parking facility if your intended objective is
and native tobacco excise tax.
Broken down, LGUs will be allocated P17 billion from Virginia-type cigarette excise taxes and P4 billion from Burley and native tobacco excise taxes.
Among Virginia-type tobacco producers, Ilocos Sur will get the biggest share at P11.030 billion. This is followed by Ilocos Norte with P2.602 billion, Abra with P2.127 billion and La Union with P1.239 billion.
Under Republic Act (RA) 7171, 15 percent of collections from excise taxes on locally manufactured Virginia-type cigarettes—capped at P17 billion—will be allocated to
PERSONAL FINANCE
that you will use a particular fund within the next 12 months.
n Diversification within diversification. Don’t just invest in one global fund or one local stock. Spread investments across sectors, regions, and maturities. This strategy can help you capitalize opportunities on certain market while also minimizing risks if in case there will be certain risk concentration in a certain geographical location. Currently, we have seen that there’s broadening out of the US considering the volatility due to tariffs. Having exposure in emerging markets and other developed economies can help you in maximizing the opportunities let’s say for example in Europe and Asia.
Building wealth isn’t about chasing trends or predicting the next big market wave. It’s about consistency and discipline. Three timeless principles stand out:
n Stay invested. Markets will always go through cycles, but investors who stay invested through ups and downs generally come out on top.
n Harness compounding. Reinvesting interest and dividends is a simple yet effective way to boost growth. Identifying dividend paying funds can help you in gaining cash flow on top of the capital appreciation of your investments. If a certain fun can pay out around 3 to 6% annually, this can be an alternative source of passive income while also capitalizing a certain percentage of your portfolio in compounding. n Invest with purpose. A diversified portfolio should reflect personal goals—whether for retirement, education funding, or legacy planning.
Global diversification is now essential, not a luxury. Filipino investors can maximize opportunities by combining the scope of international markets with the depth of local growth. The right mix of global and domestic fixed income and equities, along with effective risk management, builds a strong portfolio. More importantly, it lays the groundwork for lasting wealth that can endure market cycles and benefit future generations.
As you go through you wealth building, always bear in mind that it takes discipline and consistency even when times are tough. Always bear in mind that there will be volatility while our goal is to also maximize the opportunities. Set parameters and timeline so that our investments will have a particular purpose and we can press on towards our goal.
Karlo Biglang-awa is a Registered Financial Planner of RFP Philippines. The views and opinions he expressed herein are those of the author and do not necessarily represent those of the BusinessMirror’s. To learn more about personal financial planning, attend the 113th RFP program this October 2025. E-mail info@rfp.ph or visit rfp.ph to learn more about the program.
beneficiary provinces based on production volume.
Likewise, RA 8240, as amended, allocates five percent or up to P4 billion of revenues from tobacco excise taxes among Burley and native tobacco-producing provinces.
As for shares of LGUs from Burley and native tobacco excise taxes, Isabela will obtain the largest share at P1.537 billion, trailed by Misamis Oriental with P621.355 million and Ilocos Sur with P557.788 million.
Provinces including Abra, Apayao, Ifugao, Ilocos Norte, La Union, Pangasinan, Cagayan, Nueva Vizcaya,
Tarlac, Zamboanga Sibugay, Cotabato, Agusan del Norte, Agusan del Sur and Maguindanao del Sur will also benefit from the collection.
The DBM said the funds will be released through a Special Allotment Release Order, with Notices of Cash Allocation coursed through the Bureau of the Treasury and authorized government servicing banks.
The memorandum requires LGUs to use the funds strictly for programs that benefit tobacco farmers, including cooperative projects to raise productivity and income, crop diversification, livelihood and agro-industrial initiatives, and in-
frastructure such as farm-to-market roads, schools, hospitals and irrigation systems. In addition, the programs and projects to be implemented by the beneficiary LGUs must be in line with the policies, programs and priorities set in the Agricultural and Fisheries Modernization Program and the Road Map for the Philippine Tobacco Industry.
Beneficiary LGUs are also highly encouraged to allocate at least 25 percent of their total share for cooperative programs, livelihood projects and financial support for registered tobacco farmers.
Investors rush to lock in returns before policy
YIELDS on Treasury bills (Tbills) were mixed at Monday’s auction as investors rushed to lock in returns before borrowing costs decline further by the end of the year.
The Bureau of the Treasury’s (BTr) auction committee awarded the full volume of T-bills up for sale, worth P22 billion.
All three tenors fetched total tenders amounting to P97.170 billion, exceeding the original size of the issuance by 4.4 times.
Michael L. Ricafort, chief economist at the Rizal Commercial Banking Corp. (RCBC), said the yields reflect investors’ expectations of easing interest rates by the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve (Fed).
“T-bill average auction yields also
mostly lower after dovish signals from most Fed officials recently would help support possible future Fed rate cuts that could be matched by the BSP to maintain healthy interest rate differentials,” Ricafort said. After the central bank lowered the key policy rate by 25 basis points (bps) to 4.75 percent, BSP Governor Eli M. Remolona Jr. hinted at another rate cut in December.
Ricafort noted the move will essentially match the Fed’s expected 50-bps rate cuts for the rest of the year, allowing the BSP to maintain a healthy interest rate differential, provided inflation stays benign and the peso remains stable.
During the auction, the 91-day T-bills’ average rate stood at 4.884 percent, rising by 0.4-bps from 4.880
Marcos yet to decide on fate of GSIS chief
By Samuel P. Medenilla @sam_medenilla
DESPITE already being aware of the calls for the resignation of Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo A. Veloso over his alleged “poor investment decisions,” President Ferdinand R. Marcos Jr. has yet to decide if he will replace or retain the head of the state-run pension fund.
In a news briefing in Malacañang last Monday, Palace Press Officer Clarissa “Claire” A. Castro said the chief executive is still looking into the allegations against Veloso.
“If there are complaints now [against Veloso], these should be studied thoroughly. If there is a basis, let’s see what the President’s decision will be,” Castro said in Filipino.
“For now, I will just give you an update on what the President has in mind regarding this,” she added.
The Presidential Communications Office Undersecretary said the chief executive was already informed about the attempts by past GSIS board of trustees members to have Veloso ousted due to his supposed risky investment decisions, which resulted in a P8.8 billion loss for GSIS. They claimed Veloso’s ongoing
management of GSIS puts the welfare of the 2.6 million members of the state-run pension fund at risk.
An organization of public sector workers also called for an independent investigation into the reported P8.8-billion loss in the investments by the GSIS. (See https://businessmirror.com.ph/2025/10/20/ govt-workers-urge-probe-intogsis-investment-loss/)
“Public sector unions and workers will not remain silent while their retirement savings are gambled away through mismanagement and impunity. We call on the Marcos administration to act decisively and transparently,” read a statement by the Public Services Labor Independent Confederation.
Veloso denied the allegations that, he said, he will address in the proper legal forum.
“The alleged ‘P8.8-billion loss’ is baseless. This number does not exist in any official financial records of GSIS,” read a statement the agency issued over the weekend.
(See https://businessmirror.com. ph/2025/10/20/investmentshelp-gsis-boost-income-to-morethan-%e2%82%b1100b/)
Veloso also said he will continue with his duties until he is removed by Marcos from his post.
percent in the previous auction. Rates ranged from a low of 4.820 percent to a high of 4.930 percent.
The government IOUs attracted tenders amounting to P28.680 billion, about four times the P7-billion offer. Meanwhile, the 182-day debt paper’s average rate fell to 5.058 percent, down by 1.4bps from 5.072 percent previously. Rates were between 5.010 percent to 5.088 percent.
Bids submitted for the security hit P40.630 billion, more than five times the P7.5-billion offer.
For the 364-day T-bills, the average rate declined by 2.2bps to 5.097 percent from 5.119 percent in the last auction.
Tenders for the tenor reached P27.860 billion, equivalent to 3.7 times the P7.5-billion program.
rates cut
Average yields of all three tenors are lower than the comparable Philippine Bloomberg Valuation (PHP BVAL) benchmarks. The PHP BVAL reference rates are 4.970 percent for the three-month tenor, 5.138 percent for the six-month tenor and 5.203 percent for the one-year tenor. This October, the Treasury will borrow a total of P88 billion by issuing T-bills of various tenors. For this year, the government will raise a total of P2.6 trillion, of which around P2.112 trillion will come from domestic sources and the remaining from foreign financiers. So far, the government’s gross borrowings reached P2.266 trillion as of the end of August, while the outstanding debt hit P17.468 trillion. Reine Juvierre S. Alberto
Lenders urged to foster responsible borrowing
WHILE consumer credit activity is expected to pick up during the “ber” months on the back of lower borrowing costs, lenders should balance growth opportunities with promoting responsible borrowing, according to TransUnion Information Solutions Inc.
(TransUnion PH).
A statement issued by the company last Monday cited the timing of the lowering of key policy rates by another 25 basis points to 4.75 percent by monetary authorities. Transunion PH said the cut is aligned with the country’s peak retail and remittance season.
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) reduced the key policy rate during its meeting on October 9, defying market expectations of a pause. (See: https://businessmirror.com.ph/2025/10/09/bsp-cutsrates-to-4-75-lowest-since-september-2022/). According to TransUnion PH, reduced borrowing costs will lead to more demand for loans and higher average spending, especially for consumer products such as credit cards, personal loans and “buy now, pay later” offers.
ALL it took was a classic bout of haven buying to wake up a slumbering Treasuries market and drive benchmark yields to the lowest in months.
At a time when the US government shutdown has delayed key official readings on employment and inflation, jitters around regional banks’ credit exposure jolted Treasuries last week, after yields had barely budged for days. The move came as an index of the lenders’ shares slid the most since April’s tariff-fueled market chaos. As rattled investors piled in, the monetary policy-sensitive two-year yield dipped below 3.4 percent to the lowest level since 2022, while the 10-year made its deepest push below 4 percent since April. It was the second round of havenbuying for Treasuries in October, after the
reemergence of trade tensions sparked an even bigger rally the week before. Already buoyed by signs of weakening employment conditions that have made a quarter-point Federal Reserve policy easing on October 29 look like a given—investors are locking in 4 percent yields for 10 years as a safety play given the rich valuation of equities and credit markets.
“Treasuries have worked as a great risk-off hedge over the last week,” said Priya Misra, a portfolio manager at JPMorgan Investment Management. “Rates can fall further” on any additional credit worries or trade jitters, and the asset manager owns exposure in 5- to 10-year maturities, which give “the comfort to hold on to credits we like.” Even the 30-year Treasury has gained
Latest BSP data showed that cash remittances grew by 3.1 percent to $22.91 billion from January to August this year from $22.22 billion in the same period a year ago. (See: https://businessmirror.com.ph/2025/10/15/august8-month-remittances-up-seen-rising-further/).
The United States remained the top source of remittances to the Philippines during the eight-month period, followed by Singapore and Saudi Arabia, BSP data showed.
Faulhaber said the key to sustaining this momentum lies in how financial institutions respond to the changing market environment.
“What matters now is how the formal financial industry capitalizes on this momentum—by adopting first-mover strategies to deliver more personalized offerings in an increasingly competitive market with proactive risk management,” he added.
While this environment creates growth opportunities, Faulhaber said lenders must encourage responsible borrowing to support more Filipinos in managing credit wisely, not just for the season but for the long term.
“This latest rate cut by the BSP sets the stage for a more active lending environment as we move through the ‘ber’ months,” TransUnion PH President and CEO Peter Faulhaber said. “It’s a timely boost for consumers preparing for the holidays and for lenders aiming to meet that demand.” Meanwhile, delinquencies could remain stable or even improve slightly, backed by remittance inflows, which typically boost repayment capacity, TransUnion added.
Treasuries rally drives home haven role amid credit worries
ground, countering worries of a global debasement trade given the hefty borrowing needs of major economies, which helped propel gold to a record above $4,000 an ounce.
Fed view THE trajectory for Treasuries from here largely depends on traders’ expectations for how deeply the central bank will ultimately cut rates over the coming 12 months or so. In a speech last week, Fed Chair Jerome Powell pointed to the low pace of hiring and noted that it may
Reine Juvierre S. Alberto
Karlo Biglang-Awa
Art BusinessMirror
Works of top contemporary Filipino artists reimagined as jigsaw puzzles
Looking for Juan’s new Haraya Art Puzzle collection is more than fitting pieces together—it’s advancing children’s literacy
ARTWORKS by big-name Filipino contemporary artists can easily fetch a seven-figure price tag. Through the latest collection of for-purpose brand Looking for Juan, these pieces can be had at a fraction of the cost, reimagined as jigsaw puzzles, while serving as “a quiet act of community work that nurtures both creativity and literacy.”
Looking for Juan is an online store of art-based books and gifts that hopes to improve literacy in the Philippines by merging art and purpose with every purchase. For its latest Haraya Art Puzzle collection, the group partnered with some of the country’s most celebrated contemporary artists today, namely, Elmer Borlongan, June Digan, Jericho Moral, Jim Orencio, and Rodel Tapaya.
“This project is really about bringing art into everyday spaces,” says Larissa Chavez, head of Looking for Juan.
“We want people to experience the power of art not just on walls or in galleries, but through play and storytelling. And with each puzzle supporting book
donations, it’s also a quiet act of community work that nurtures both creativity and literacy.”
While designed to invite players to slow down, reflect, and engage with Filipino art in a tactile and meditative way, the puzzles are more than objects of play. They also act as functional art that retell the artist’s vision through an interactive experience between the artist, artwork, and the player.
Each puzzle box comes with a full-image poster for an easier and more enjoyable solve. The pieces come in counts of 300 to 500, crafted from 2mm premium cardboard for less dust. Once completed, the puzzles measure between 45.7 cm x 45.7 cm and 55.45 cm x 74 cm, with dimensions varying per design, perfect for transforming into striking wall art when framed and hung.
For the Haraya Art Puzzle collection, Elmer Borlongan presents his work titled Mobile Record Shop, inspired by Filipino underground culture, a hodgepodge of nostalgia, music and everyday resilience. The scene shows a fleeting encounter, where a man is selling bootleg cassette tapes of 1960s and 1970s music from his Volkswagen Beetle parked at the back of Folk Arts Theater. Music plays from a cassette deck on the roof, inviting passersby to drift into another era.
Meanwhile, Ang Naglalakbay na Karinderya by June Digan follows a child’s adventure into a magical forest, showcasing in full the artist’s renowned whimsical characters and imaginative landscapes. The enchantment deepens with special glow-in-the-dark elements in the puzzle, bringing the scene to life even after the lights go out.
In Jericho Moral’s The Broken Clock, a surreal
landscape blends chaos, time and memory, pulling players into a dreamlike world. In this realm, fantastical creatures take over amid precarious architecture and overlapping narratives, as time itself seems to be fractured. The artwork acts as a meditation on disarray, imagination, and dissolution of structure.
In Jim Orencio’s Fern Path (Pinto Arboretum), order prevails. It offers a quiet reflection on nature through a lush passageway that invites serenity and calm, featuring a tranquil trail in Pinto Arboretum, a place of deep inspiration for the artist. The piece evokes the quiet thrill of wandering, not in search of adventure but for the simple joy of moving forward, open to whatever lies ahead.
Lastly, Rodel Tapaya offers his signature fantastical dreamscape in a work titled Mahiwagang Mundo. Drawn from his children’s book Ang Batang Maraming Bawal, the artwork visually narrates the story of a sickly child who finds strength and adventure in his dreams.
Further upholding Looking for Juan’s commitment to children’s literacy and creative advocacy, every puzzle sold supports the “One Million Books for One Million Filipino Children” campaign, which helps fund the creation and distribution of books to public schools and underserved communities across the country.
This is implemented in partnership with a non-profit, the Center for Art, New Ventures and Sustainable Development, or CANVAS.
The Haraya Art Puzzles are available online at www.lookingforjuan.com and at select partner stores. Prices range from P2,200 to P3,000.
VIRGO (Aug. 23-Sept. 22): Simplify your life, start conversations that help you manage expenses and distance yourself from out-of-control individuals. Refuse to let excess and indulgence seep into your life through outside influences that you have no control over. Be the one with discipline and foresight to take the path that protects you, your assets and your possessions. ★★★
LIBRA (Sept. 23-Oct. 22): Tackle what’s necessary first. Do what needs doing without complaint. Your best outcome is to fly under the radar while you make ends meet and you finish what you start. Don’t sign up for more than you can handle or anything that has hidden costs. Pay attention to domestic upgrades. ★★★
SCORPIO (Oct. 23-Nov. 21): Don’t hesitate when speed is of the essence. Think and follow through, and you’ll gain ground. Opportunities are apparent when you connect with experts or those who can verify information crucial to your success. Network, negotiate and use your charismatic charm to achieve your objectives. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): Deal with domestic matters cautiously. Hesitation and uncertainty will mount if a decision is necessary. Let the cost factor into the choice you make, and when possible, request alternatives that are cost-efficient or have a payment schedule you can afford. Maintain your status quo by consistently delivering high-quality work and accepting responsibility for your actions. ★★★★
CAPRICORN (Dec. 22-Jan. 19): Take charge without malice. It’s how you go about getting others to do things for you that will lead to your success. Praise, ingenuity and alternative suggestions will help you get what you want and make others feel good about their contributions.
AQUARIUS (Jan. 20-Feb. 18): A change at home will save you time and money. Refuse to let mixed emotions lead to unnecessary costs. If you stick to your plans and say no to excessive fees, you’ll forego a scam. Discipline will be necessary when communicating with aggressive individuals. Invest more time in cultivating a positive self-image. ★★
PISCES (Feb. 19-March 20): Urge others to respect you and your property. If you don’t enforce your desires, you will send the wrong signal to anyone wanting to take advantage of you. Connect with people on a level playing field, and avoid giving anyone the advantage over you. Know what you want, and don’t stop until you reach your destination.
BIRTHDAY BABY: You are kind, loving and creative. You are generous and optimistic.
Show BusinessMirror
Martin del Rosario deserves to be on top
THERE is no doubt that Martin del Rosario is on a roll.
His name alone adds prestige to the firstever Cine Silip Film Festival, organized by the VMX division of the Viva Entertainment empire, with the esteemed Ronald Arguelles as festival director. The festival runs from October 22 to 28, in select cinemas under the Ayala Malls group.
According to Arguelles, these seven entries made the cut from among more than a hundred script submissions: Dreamboi, Haplos sa Hangin, Salikmata, And Lihim ni Maria Makinang, Babae sa Butas, Pagdaong, and Maria Azama: Best Porn Star.
Del Rosario is the lead character in the movie Haplos sa Hangin. Highly touted young filmmaker Sonny Calvento is credited as the screenwriter while Mikko Baldoza debuts as the director. Both Calvento and Baldoza belong to the creative geniuses that form Southern Lantern Studios, a small production outfit that has produced outstanding film outputs in recent years.
It’s Del Rosario’s first outing for a Vivamax movie and he does not have qualms at all, knowing that he is working with a group that has award-winning films that represented the country in many festivals overseas.
“I really fought for this movie with my management team at Sparkle, because when I received the script, I did not allow anything to disrupt me until I finished reading it. I was more than interested, perhaps almost obsessed with the material and my character, so I made sure that I will be the actor to do it. Luckily, everything went smoothly, and we finished the film without glitch, and the festival organizers decided that it deserved to be one of the entries,” Del Rosario shared.
I first met Del Rosario in 2010 during the filming of Dagim, a horror drama entry for the Cinema One Originals Independent Film Festival, incidentally also chaired by Arguelles. Del Rosario bagged the Breakthrough Actor of the Year Award the following year and people started to take notice of his promise as an actor to watch out for.
We then reconnected when he did the TV series Pintada for ABS-CBN in 2012, and I’ve followed his colorful career since then.
I had a quick chat with Del Rosario recently during the launch of Cine Silip and we were more than happy to see each other again.
BY LINDSEY BAH� The Associated Press
THE horror sequel Black Phone 2 topped the North American box office charts this weekend with $26.5 million in ticket sales, according to studio estimates on Sunday. Not only did it surpass the original’s $23.6 million debut, it’s a much-needed win for Blumhouse after a string of disappointments this year like M3GAN 2.0. Though Black Phone 2 opened in line with expectations, moviegoing in October continues to be slow—down about 11 percent from last year, according to Comscore. The overall box office is still up about 4 percent compared with last year, but a big blockbuster hit that could spark more momentum might not arrive until late November or December. Universal Pictures released Black Phone 2 in 3,411 theaters in North America on a wave of good reviews. Coming four years after the original, the sequel sees the return of filmmaker Scott Derrickson, as well as stars Ethan Hawke and Mason Thames. Opening weekend audiences were 63 percent between the ages of 18 and 34, according to exit polls, and the
“This is perhaps the most daring I’ve ever done for the big screen,” referring to the requirements of his his role in Haplos sa Hangin, “and I simply trusted my director and the whole team and went along with their vision. I believe that film work is and should always be collaborative between everyone involved for the output to come out well and polished.”
Del Rosario’s work schedule is currently full, as he returns to the stage to reprise his role as a military man whose life gets entangled with a couple in hiding with the new run of the much talked-about theater adaptation of Jun Lana’s movie Anino sa Likod ng Buwan.
When the show had its first run earlier this year, Del Rosario and his coactors Ross Pesigan and Elora Españo all got very good reviews from high-nosed theater critics. For the shows that will run until November 9 at the PETA Theater in Quezon City, Del Rosario will be joined by Edward Benosa, Denise Esteban and Vincent Pajara.
Once he is on stage, Del Rosario says that he is
biggest demographic was Hispanics, making up 39 percent of ticket buyers while Caucasians accounted for 35 percent. With an additional $15.5 million from 71 international territories, Black Phone 2 had a $42 million worldwide launch against a reported $30 million production budget.
“It’s a fantastic opening,” said Jim Orr, who heads Universal’s domestic distribution. “Our great partners in Scott Derrickson and Blumhouse once again took this property and crafted an unbelievably haunting, chilling story that audiences just simply couldn’t get enough of.”
The first Black Phone was a bit of a sleeper hit for Universal and Blumhouse in 2021 as cinemas were beginning to come back to life after Covid shutdowns. By the end of its run, it had earned more than $161 million worldwide against an $18 million budget.
Blumhouse has had a rocky 2025, with a handful of duds including Wolf Man and The Woman in the Yard. But the once impenetrable horror hitmaker could be on the upswing again with a Five Nights at Freddy’s sequel coming in December. The first movie earned nearly $300 million worldwide.
The horror genre in general has soared to recordbreaking heights this year, with hits like Weapons and the multi-genre Sinners, generating over $1.2 billion for the industry, noted Paul Dergarabedian, Comscore’s head of marketplace trends. Black Phone 2 was also the only film to really break through this weekend, despite a slew of options playing in wide release including the R-rated Seth Rogen, Aziz Ansari and Keanu Reeves comedy Good Fortune, which opened in 2,990 locations to $6.2 million, and the expansion of the Julia Roberts and Andrew Garfield drama After the Hunt, which made $1.6 million from 1,238 theaters. Also new in theaters
K-DRAMA HITS COME ALIVE IN ‘OST SYMPHONY II: K-DRAMA IN CONCERT’ THE magic of Korean drama is set to return to the concert stage as the Cultural Center of the Philippines (CCP), the Korean Cultural Center in the Philippines (KCC), and the National Commission for Culture and the Arts (NCCA) present OST Symphony II: K-Drama in Concert, on October 25, 2025, at the Samsung Hall, SM Aura Premier in Taguig City—with two shows at 2 pm and 6:30 pm.
OST Symphony II: K-Drama in Concert is in partnership with the Korea Tourism Organization-Manila Office (KTO), the Korea Trade-Investment Promotion Agency (KOTRA), SM Supermalls, VIU Philippines, and GMA.
Following the overwhelming success of its debut last year, OST Symphony II: K-Drama in Concert will once again bring drama, nostalgia, and well-loved soundtracks to life—this time, with even grander performances from the Philippine Philharmonic Orchestra (PPO).
At the heart of this concert is the PPO led by Maestro Herminigildo Ranera. Fresh from their successful UK tour, PPO will perform powerful and heart-stirring renditions of beloved K-Drama soundtracks. From the adrenaline-filled beats of Maggie Kang’s K-Pop Demon Hunters to the tender melodies of Crash Landing on You and the tear-jerking When Life Gives You Tangerines, the night hosts a journey through the emotions that made every K-drama unforgettable.
OST Symphony II: K-Drama in Concert also features an exciting lineup of guest performers, including Korean singersongwriter Hong Isaac and rising artist YEGNY, alongside Filipino artists Kyline Alcantara and Angel Guardian. These stars will add flair to the concert, bridging cultures through songs that celebrate both Korean and Filipino artistry.
Before the concert, KCC will also hold a K-OST and K-show Production Workshop in partnership with GMA, gathering some of Korea’s leading music and show producers for a one-day creative exchange with Filipino professionals. The initiative aims to bring both industries closer and spark new opportunities for collaboration in storytelling and production.
This year’s concert also shines a spotlight on Gyeongju, the host city of the upcoming 2025 Asia-Pacific Economic Cooperation Economic Leaders’ Meeting in Korea. Known for its rich cultural heritage, Gyeongju is bringing a piece of its charm to Manila through a promotional booth at the concert lobby, where guests can learn more about the city’s history and attractions.
OST Symphony II: K-Drama in Concert is free and open to the public. Tickets will be available soon through www. smtickets.com. For more information, follow the official accounts of the CCP, KCC, and NCCA on Facebook, X, Instagram, and TikTok. More information can be found at www.culturalcenter.gov.ph.
‘BARANGAY LOVE STORIES’
transported to a different universe. “At the back of my mind, I am aware that there is a live audience, but in the realms of my consciousness I just swing into the world of my character, and I just allow myself to feel his every emotion, every movement, and every heartbeat. I guess, it’s good in a way because I become my character and that’s who the audience will see.”
For both his roles in the festival film and the re-run of the theater production, Del Rosario will definitely bare not only his skin but also his soul, and he is perfectly okay with it.
“I am an actor, and I give life to many different characters. I have learned, through years of experience and the continuous guidance of some very wonderful and intelligent directors, how it is to shed off all inhibitions when I perform, whether in front of cameras or with a live audience,” he said.
Martin del Rosario has won several acting awards in the past, and he deserves to be on top because he is bold, always brave and consistently brilliant.
PODCAST REACHES 100 MILLION+ STREAMS MILESTONE
GMA Network continues to make waves in the digital space through its popular podcast Barangay Love Stories. It recorded an impressive 100 million + streams as of October 6, 2025. Available as well on GMA’s flagship FM radio station Barangay LS 97.1 Forever!, the podcast brings to life stories of love, life and hope through engaging dramatizations, and is hosted by Papa Dudut.
Fans of Barangay Love Stories can also look forward to a special episode featuring select cast members of the country’s longest-running comedy program, Bubble Gang As a consistently top-rated podcast on Spotify Philippines, Barangay Love Stories earned the platform’s Spotify Creator Milestone Award early this year. More news and updates can be found www.gmanetwork.com. on
is Guillermo del Toro’s Frankenstein, although Netflix does not report box office grosses. Tron: Ares fell about 67 percent to $11.1 million in its second weekend in theaters, which was enough to snag second place on the charts. Globally it has now earned $103 million. Good Fortune, which opened in third place, had mostly positive reviews on its side, but Ansari’s comedy with a side of social commentary did not drum up a
movies, meaning this is not a hotbed of box office blockbusters,” said Dergarabedian. “But the marketplace is flush with titles. This is awards season; this is where you have a lot of auteur driven films, edgier films. Collectively these don’t generate a ton of box office, but there’s the currency of goodwill created with movie fans.”
Next weekend audiences will get another batch of awards-hopefuls, including Yorgos Lanthimos’s latest Emma Stone collaboration Bugonia and the Bruce Springsteen biopic Springsteen: Deliver Me from Nowhere, starring The Bear’s Jeremy Allen White.
Eton Properties, UE break ground for Eton City Campus in Sta. Rosa, Laguna
Eton Properties and the University of the East (UE) formally broke ground on the UE Eton Laguna Campus in Sta. Rosa, Laguna, the university’s first campus in the South and a key milestone in the 600-hectare Eton City township.
The new campus fulfills a longstanding vision to make Eton City not only a premier residential and commercial hub but also a center for education and innovation in the region.
“When I revisited the Eton City masterplan, I saw how important it was to move the UE campus forward,” said Kyle C. Tan, President and CEO of Eton Properties. “I reached out personally to the UE Board because I believe this partnership could help shape how communities grow in the South.”
Strategically located within the 600-hectare Eton City, the UE Eton Laguna campus is envisioned to nurture future leaders and professionals while supporting Sta. Rosa’s growing economy.
“From the start, Eton Properties believed that a great community is not built on structures alone,” Tan added. “It grows stronger when it includes access to quality education.”
This milestone underscores Eton Properties’ long-term commitment to purposeful and sustainable development, where education stands as one of the vital pillars of township growth. The partnership between Eton Properties and UE reflects how corporate vision and academic excellence can work together to build communities where people can live, learn, and grow together.
Following the ceremony, guests gathered at Elements at Eton City, now officially serving as the township’s dedicated events venue beside South Lake Village, to celebrate a new chapter built on collaboration, opportunity, and growth.
“The UE Eton Laguna Campus means so much to the company,” Tan concluded. “It is more than just a project; it is a promise coming to life for the community.”
IT is always more than just any other golf tournament; it was a day of purpose, passion, and unity.
The 18th Reggie Padua Cup Invitational Golf Tournament, held recently at Hallow Ridge Filipinas Golf Inc. in San Pedro, Laguna, once again proved how the game of golf can bring people together for a greater cause.
Organized by the UP Triskelion Alumni, Inc. (UPTAI), in partnership with SOCEX Consulting Corporation, the event gathered close to 100 players, Triskelion brothers, sisters, and distinguished guests, all driven by one goal: to support the Hematology Unit of the National Children’s Hospital (NCH). Proceeds from the tournament will help young patients in need of vital medications and dialysis treatments, a true testament to the Triskelion spirit of strength, freewill, and brotherhood.
Now on its second consecutive year under the expert management of SOCEX Consulting Corporation, the Reggie Padua Cup reached new heights in both execution and impact. With more sponsors, more raffle prizes, and more attendees than ever before, the 2025 tournament set a new benchmark for success.
The event also received tremendous support from Tau Gamma Phi Fraternity, whose participation further strengthened the values of solidarity and service.
Major car manufacturers, golf apparel brands, golf equipment suppliers, restaurant and donors renewed their sponsorships for the Hole-in-One challenges and other tournament highlights, proof of their trust in both the cause and SOCEX’s track record of delivering professional, results-driven events.
“At SOCEX, we treat all our stakeholders with the highest regard. It’s not just about conducting programs - it’s about building trustworthy partnerships that touch lives. That’s how our works matter,” shared Cholo Calimag, CEO of SOCEX Consulting Corporation.
The organizers extend their heartfelt gratitude to all sponsors, partners, and participants whose unwavering generosity made this year’s tournament a resounding success.
The Reggie Padua Cup continues to be more than a competition. It is a movement that changes lives, one swing at a time.
See you all next year!
For management consulting needs, brand activations, media management and other PR related inquiries, contact SOCEX Consulting Corporation at chief.ops@socexconsulting.com or gen. admin@socexconsulting.com
ISA calls for accountability, reform as it marks 25 years with national summit
AS the country faces yet another cycle of corruption scandals, misuse of public funds, and waning public trust, one truth stands clear: the absence of integrity and accountability in governance is costing us Filipinos our future. Behind every unfulfilled project, every wasted peso, and every broken promise is a system that has yet to take transparency seriously. It is the Filipino people, the public servants trying to do right, and the communities waiting for services that never arrive, who bear the weight of this failure.
For 25 years, the Institute for Solidarity in Asia (ISA) has been at the forefront of transformative governance, strengthening public institutions, building integrity systems, and empowering leaders to deliver better outcomes for citizens.
Since its founding in 2000 by renowned economist and former Finance Secretary Dr. Jesus P. Estanislao, ISA has helped over 200 public institutions, from the Department of Trade and Industry and the Philippine Heart Center to the City Governments of Baguio and Iloilo, build stronger, more accountable, and citizen-centered systems of governance.
One of the most notable examples of this transformation is the Armed Forces of the Philippines (AFP), which partnered with ISA to develop and implement its Transformation Roadmap, a long-term strategy to build a credible, effective, and service-driven military organization. Its reform journey has since translated into measurable outcomes, including increased disaster response readiness, improved maritime domain awareness, and strengthened public trust in one of the nation’s most critical institutions.
ISA’s work demonstrates that corruption is best prevented not just by catching the guilty but by transforming the way public institutions lead, plan, and serve. Central to this effort is the Performance Governance System (PGS), ISA’s strategy management framework developed specifically for public institutions in the Philippines.
The PGS enables government agencies and local governments to design, deploy, monitor, and sustain longterm reforms that deliver real, measurable breakthroughs in service delivery and institutional performance. Through the PGS, agencies and LGUs have translated strategy into progress, strengthening citizen participation and improving accountability across the board.
Now entering its 25th year, ISA reaffirms its mission
to build a Dream Philippines, where every government institution delivers, and every citizen participates and prospers.
This commitment will be at the heart of the upcoming “ISAng Bansa, ISAng Pangarap: National Summit for Public Governance” on November 6, 2025, which will gather reform advocates, leaders, and integrity champions from both the public and private sectors.
The summit’s plenary sessions will confront the country’s most urgent governance challenges head-on: Institutional Leadership & Strategic Reforms — Addressing how visionary leadership and evidence-based strategy can strengthen public institutions. Public Sector Integrity & Anti-Corruption — Exploring practical anti-corruption tools and citizendriven accountability mechanisms.
Foundations of Reform: Voices from Governance and Service Champions — Featuring real-world transformation stories from notable public institutions.
Speakers include Former Vice President and Naga City Mayor Leni Robredo, Baguio City Mayor Benjie Magalong, and AFP Chief of Staff Gen. Romeo Brawner Jr., alongside many other reform advocates from both public and private sectors.
ISA’s call is clear: good governance is not the job of a few, but the responsibility of all.
As institutions across the country continue to battle systemic inefficiencies and corruption, ISA urges leaders, civil servants, and citizens alike to take part in the growing movement for integrity. This Summit and the movement it represents is not just a look back on 25 years, but a call to action for the next 25. The work of nation-building continues, and the time to act is now.
‘Himig at Tinig Para Kay Inang Maria’ to be held in Alabang
INFINIDAD Events Management is delighted to announce “Himig at Tinig Para Kay Inang Maria” (Hymn and Voice for Mother Mary), a sacred musical event honoring the Blessed Virgin Mary. This concert celebrates her profound role in the Catholic faith and the spiritual life of the Filipino people.
The concert is scheduled for October 25, 2025, at the Filinvest Tent, Alabang, Muntinlupa. It promises to be a profound spiritual journey, designed to uplift spirits and inspire hope through sacred performances that demonstrate communal gratitude. October is traditionally dedicated to the Holy Rosary, making this a particularly significant time to host “Himig at Tinig Para Kay Inang Maria.” This event taps into the deep Marian piety characteristic of Filipino Catholicism, serving as a collective act of veneration and celebrating her enduring legacy as a guide and intercessor.
The concert will feature a diverse lineup of talented Filipino musicians and singers, including Angeline Quinto, Frenchie Dy, brothers Rannie and Lance Raymundo, who will unite their voices for this inspiring cause. The program will include a captivating selection of sacred songs and contemporary hymns, covering various musical styles from traditional Marian hymns to modern Christian music, ensuring an uplifting experience for all attendees.
Each performance will be a powerful homage to Mary’s significant role as the Mother of God.
Beyond inspiring hope, “Himig at Tinig Para Kay Inang Maria” serves a greater purpose: proceeds from the concert will support elderly and unwell priests who have dedicated their lives to serving their faith and community. Beneficiaries include 17 priests from Cardinal Sin’s Welcome Home in Manila, 20 individuals from the Missionaries of the Poor, 10 priests from CICM Home Sweet Home in Baguio City, and 18 priests from St. Joseph Seniorate in Batangas.
Infinidad Events Management, a full-service events
A Thoughtful, Quiet Power from Batac, Ilocos Norte
S the monsoon winds batter Ilocos
Areads. His fingers trace policy briefs and climate reports the way one might trace a map during a storm, with purpose. Food security. Climate adaptation. Public health. These are the anchors of a country that is oftentimes adrift in a sea of problems. Barba is far from the chaos of Manila’s political theater, and so he reads. He remains grounded in the sodden soil of his district, the second in Ilocos Norte, a land of mango trees bowing under the weight of rain and livestock owners who look to the sky for clues and cues as to when they should lead their goats to higher ground.
management firm established in 2007, is overseeing the grand production, ensuring the highest quality and professionalism for this sacred event.
Through this benefit concert, which venerates the Blessed Virgin Mary as a central figure in the Catholic Church, religious communities will share in faith, find comfort, and give back to the religious leaders and servers who have guided and safeguarded their faith throughout the years.
Tickets for “Himig at Tinig Para Kay Inang Maria” are available for P1,000. For any questions, please email infinidadeventsmanagement@gmail.com
A few years ago, under a pale sun before the rains returned, he said to a group of supporters, “We built roads where there were none. But more than infrastructure, we built trust.” It was not a slogan. It was a report to his constituents. His track record at the House of Representatives speaks louder than he ever has. As chair of the North Luzon Growth Quadrant, Barba has authored bills that do not promise miracles, but offer shelter from what may come, most of which are legislation to lighten the debts of farmers, protect watersheds, preserve arable land, and build climate-resilient communities. His Rainwater Harvesting Facility Act, born of muddy afternoons and impassable roads, insists on practicality: catch the rain, store it, use it wisely. It is no surprise that even in the wettest months, a line forms outside his office. Some seek aid. Others arrive with flyers for mangrove plantings or beach cleanups. Barba, never fond of ribbon-cuttings, always says yes. Each year, he joins the volunteers, bending down with a stick to fish out plastic from the shoreline without breaking his back or his humility.
At 66, he wears the years the way he wears his name, an intricate story and a good one. He is a cousin of the President, yes, but he never uses his name as an armor because Barba, much like the President, does not mistake noise for leadership.
In 2023, when fisherfolk at Victoria Beach found their catch dwindling, Barba led a quiet revolution underwater. Twenty sculptures, gifts from Pinto Art, were lowered into Poblacion Bay so that there would be places where corals can land and grow. It has been a little over two years and the most recent visit showed that corals are now thriving in the area. The operation was complex. It required coordination with marine biologists, military divers, policy analysts, and bureaucrats. But it succeeded because Barba said that it had to succeed as it was upon the shoulders of his generation to protect what is fragile before it disappears.
In the same year, just before another season of storms, Barba filed the “Young Farmers and Fisherfolk’s Challenge Act,” a law as ambitious as it was necessary. “We must make agriculture a future, not a fallback,” he said in Laoag, his voice calm even as the ceiling fans clattered. The bill proposed what many thought too idealistic: scholarships, grants, and meaningful training for the children of soil and sea. Yet behind the legislative success, Barba’s public service has remained the same. It is still found in his work and in the slow builds, the thoughtful laws he writes, and in the trust of the people.
(Left) Executive from UP Triskelion Alumni, Inc. (UPTAI) join the SOCEX CEO during the awarding ceremonies of the 18th Reggie Padua Cup golf tournament. (Right) UPTAI "Brods" take the first swing in the ceremonial tee-off, marking the start of a memorable day on greens.
The groundbreaking ceremony was attended by the executives of Eton Properties led Eton President and CEO Kyle C. Tan (4th from right) and Lucio Tan Group Director Karlu Tan-Say (3rd from right). From the UE executives were UE Vice Chairman David O. Chua and UE President Zosimo M. Battad; Together with the local government unit led by Santa Rosa City Mayor Arlene B. Arcillas (5th from right); Cabuyao Mayor Dennis Felipe Hain (2nd from right); and Santa Rosa Rep. Roy Gonzales (5th from right).
ISA Founder and Chairman Emeritus Dr. Jesus P. Estanislao
Teeing Off for a Greater Cause: 18th Reggie Padua Cup Raises Hope for Children in Need
Sold out in India, panic in London: How the global silver market broke
By Sybilla Gross, Preeti Soni, Jack Ryan, Yvonne Yue Li and Jack Farchy
FOR months, Vipin Raina had been bracing for a stampede of buying from Indian customers loading up on silver to honor the Hindu goddess of wealth.
But when it came, he was still blown away. At the start of last week, his company, India’s largest precious metals refinery, ran out of silver stock for the first time in its history.
“Most people who are dealing silver and silver coins, they’re literally out of stock because silver is not there,” said Raina, who is head of trading at MMTCPamp India Pvt. “This kind of crazy market—where people are buying at these levels—I have not seen in my 27-year career.”
Within days, the shortages were being felt not just in India, but around the world. India’s festival buyers were joined by international investors and hedge funds piling into precious metals as a bet on the fragility of the US dollar—or simply to follow the market’s irrepressible surge higher.
By the end of last week, the frenzy had rippled across to the London silver market, where global prices are set and where the world’s biggest banks buy and sell in huge quantities. Now, it had run out of available metal. Traders describe a market that was all but broken, where even large banks stepped back from quoting prices as they fielded repeated calls from clients yelling down the line in frustration and exhaustion. Prices ratcheted higher over the following week, on Friday reaching never-before-seen highs above $54 an ounce, before suddenly tumbling as much as 6.7%. For weary traders, the plunge was just the latest indication of the extreme stress being felt across the silver market – the worst crisis it has faced since the Hunt brothers attempted to corner the market 45 years ago.
This account of how the silver market broke is based on conversations with more than two dozen traders, bankers, refiners, investors and other market participants, many of whom spoke on condition of anonymity as they weren’t authorized to speak publicly.
It’s a story of how a perfect storm of events coincided to drain the silver market’s buffer of inventories—including a multi-year solar power boom, a rush to ship metal to the US to beat possible tariffs, a wave of investment in precious metals as part of the so-called “debasement trade,” and a sudden spike in demand from India.
100-to-1 ratio
WHEN traders and analysts try to pinpoint the immediate cause of the silver crisis of 2025, they inevitably point to India.
During the Diwali holiday season, hundreds of millions of devotees buy billions of rupees worth of jewelry to celebrate the goddess Lakshmi. Asia’s
refineries usually meet this demand, which typically favors gold. But this year, many Indians turned to a different precious metal: silver.
The pivot wasn’t random. For months, India’s social media stars promoted the idea that after gold’s record rally, silver was next to soar. The hype began in April, when investment banker and content creator Sarthak Ahuja told his nearly 3 million followers that silver’s 100-to-1 price ratio to gold made it the obvious buy this year. His video went viral during Akshaya Tritiya, an auspicious day for buying gold—second only to the Dhanteras festival on Oct. 18.
“It’s never been like this before. The demand this time for silver has been humongous,” said Amit Mittal, general manager at M.D. Overseas Bullion, a dealer in gold and silver in New Delhi.
The premiums for silver in India above global prices, usually no more than about a few cents an ounce, started to rise above $0.50, and then above $1, as supplies ran short.
And just as Indian demand was soaring, China—a key source of supply—closed for a week-long holiday. So bullion dealers turned to London.
They soon discovered that the city’s precious metals vaults were largely sold out. While London vaults underpinning the global market hold more than $36 billion in silver, the majority of it was owned by investors in exchange-traded funds.
Demand for silver ETFs has soared in recent months, amid concerns about the stability of the US dollar, a wave of investment that’s become known as the “debasement trade.” Since the start of 2025, ETF investors have hoovered up more than 100 million ounces of silver, according to data compiled by Bloomberg—leaving a dwindling stockpile available to supply the sudden boom in Indian demand.
Around two weeks ago, JPMorgan Chase & Co.—the largest precious metals trader and an important bullion supplier to the Indian market— told at least one of its clients that it had no more silver available to deliver to India for the month of October, and the soonest it could offer supplies was in November. A JPMorgan spokesperson declined to comment.
As the buying frenzy gathered pace in India, Satish Dondapati was keeping a close eye on supplies. A fund manager at Kotak Asset Management, he runs several precious metals exchange-traded funds, which need physical silver to back the holdings when new investors buy in.
Dondapati watched in amazement as the bullion dealers who dominate the Indian
market ran out of silver in their vaults, while local premiums kept surging above international silver prices.
Eventually, the situation became so severe that Kotak decided to halt new subscriptions to its silver fund. Similar funds run by UTI Asset Management Co. and the State Bank of India also followed suit.
“Analysts, bullion dealers were all giving bullish calls on silver in Indian media in a way that has not happened in the last 14 years,” he said. “The FOMO factor has worked.”
Elsewhere in the country, dealers in Mumbai’s busiest gold bazaars began charging prices well above international benchmarks, while bidding wars broke out between wealthy buyers who cared more about availability than price.
Premiums soared above $5 an ounce, well beyond the normal spread of a few cents. “I have been here in this company for the last 28 years and I have never seen these kind of premiums,” said M.D. Overseas’s Mittal.
JPMorgan’s reluctance to ship more silver to India indicated that the strain on supplies was going global.
By Oct. 9, with the Dhanteras festival just a week away, the London silver market would be gripped by the biggest squeeze that any of the multiple traders Bloomberg spoke to had seen in their careers.
Panic in London
TRADERS described a growing panic as liquidity dried up. The cost of borrowing silver overnight soared to annualized rates of as high as 200%, according to consultancy Metals
Focus. As the big banks that dominate the London market started to step back from the silver market, bid-ask spreads became so wide as to make trading near impossible.
One senior banker described how tempers rose as clients who had borrowed silver—typically companies in the physical supply chain, like refiners and dealers— called repeatedly to ask for the latest cost of borrowing. When his bank could no longer offer a price to roll forward its clients’ loans, some started screaming down the phone lines, he said.
In another sign of the disarray in the market, one trader said the big banks were offering such wildly different quotes that he was able to buy from one bank at its ask price and simultaneously sell to another at its bid for an immediate profit – a rare sign of dysfunction in such a large and competitive market.
“There is more or less little to no liquidity actually available in terms of leases in London,” said Robin Kolvenbach, coCEO of Swiss precious metals refiner Argor-Heraeus. “We have basically stopped all silver intake that is not committed contractually.”
Breaking the squeeze
THE silver market is known for its wild swings, and on past occasions the market regulators have stepped in. The Hunt brothers’ attempted corner in 1980 was broken when the main exchanges prevented traders from taking new positions, allowing them only to liquidate.
In 1998, after Warren Buffett’s Berkshire Hathaway Inc. bought the equivalent of about a quarter of the world’s annual mine
output and triggered a squeeze in London, the London Bullion Market Association changed its rules to accept metal that would be delivered to a vault within 15 days, rather than the usual fiveday window.
The LBMA doesn’t see the need to take similar action now, because it views the current squeeze as the result of genuinely short supplies of silver, rather than due to logistical bottlenecks as occurred in 1998, according to a person familiar with its thinking.
For the past five years, silver demand has outstripped silver supply from mines and recycled metal—in large part thanks to a boom in the solar industry, which uses silver in its photovoltaic cells. Since 2021, demand has outstripped supply by a total of 678 million ounces, according to the Silver Institute, with photovoltaic demand more than doubling over the period. That compares to total inventories in London of around 1.1 billion ounces at the start of 2021.
The stress in the silver market has been building since the start of the year, as fears that silver would be ensnared by President Donald Trump’s reciprocal tariffs prompted traders to attempt to frontrun any possible levies by shipping more than 200 million ounces of metal into New York warehouses.
On top of the tariff drawdowns, more than 100 million ounces of silver flowed into global ETFs in the year through September, as a wave of investment demand for precious metals supercharged a rally that helped drive gold through $4,000 an ounce for the first time in history.
Together, the two trends drained London’s reserves, leaving dangerously little metal available to underpin the roughly 250 million ounces of silver that change hands in the London market every day. Based on Metals Focus estimates, by early October the “free float” of metal not owned by ETFs in the London silver market had dropped to less than 150 million ounces.
When prices started spiking higher in early October, one question was on traders’ minds: How long would it take to get the New York stock back? People familiar with the process say that in ideal circumstances it can take as little as four days to buy up spot silver on Comex, sift through the inventory for metal that is approved for delivery in the London market, load it on a commercial flight, and then unload it and move it into vaults in London.
But there can be snags at any point in the chain, with delays at customs sometimes running into weeks. One risk for traders is that they would enter contracts to sell silver in London, and then not be able to get the bullion there in time— leaving themselves exposed to the eye-watering cost of rolling their positions forward. Still, Comex inventories have been drawn down by more than 20 million ounces in the past two weeks—the largest drop in more than 25 years—as traders rushed to solve the squeeze in London. It’s been a boon for the logistics firms too, with many jacking up their own prices as the silver market soared, some market participants said. But some traders were reluctant to put the trade on given the possibility that Trump might yet put tariffs on silver as part of an impending package of levies on critical minerals— which could once again send New York prices shooting higher. Throughout the past week, market conditions remained stressed as the global silver market waited to see when sufficient volumes would arrive to bring an end the squeeze.
In Toronto, TD Securities analyst Daniel Ghali had been warning for more than a year that the London market was setting itself up for a squeeze. A few days before the squeeze reached its apex, he’d sent out a note saying he thought the end was in sight, and advised clients to bet on lower prices. He’d called the peak too early as prices kept ripping higher. But by Friday, the market was once again moving in his favor. Prices plunged more than 5% at the end of the day as signs of improving US-China relations sparked a heavy selloff across precious metal markets. He says there could be further pressure to come as a wave of silver starts to flood in—not just from New York but from as far afield as China.
The logistics were “a little bit more complex than we initially assumed,” Ghali said by phone.
“We certainly did not expect the scale of the retail-buying bonanza across the globe that ensued, while the London market was getting squeezed.” With assistance from Jake Lloyd-Smith and Yihui Xie/Bloomberg
SILVER products at a jewelry store in Mumbai. DHIRAJ SINGH/BLOOMBERG
Spotlight on Davaoeños in Apo golf
THE pride of Davao— shut out in the first seven legs of the Philippine Golf Tour (PGT)—finally gets a golden opportunity to shine on home turf as the International Container Terminal Services Inc. Apo Golf Classic kicks off Tuesday at the famed Apo Golf and Country Club in Davao.
Headlining the charge is five-time Order of Merit champion Tony Lascuña, whose tied-for-fifth finish in Bacolod last month stands as the best showing by a Davaoeño this season in a tour largely dominated by players from the capital. But with the crown on the line in the P3.5 million championship and the Tour reaching the heart of Mindanao, the seasoned campaigner finds renewed confidence.
Familiarity with the tight, tricky Apo layout—where Lascuña grew up and honed his game—offers a comforting edge for the 54-year-old as he eyes a return to the winner’s circle.
“I think we have a good chance here in Davao,” Lascuña said. “But there are so many young and talented players now, so every shot still has to be precise and calculated.”
Lascuña was in strong contention at last week’s Del Monte Championship, joining the final round in the leader group, before fatigue set in and he slipped to a closing 73 for a share of eighth.
Joining him in the locals’ title chase are fellow Davao standouts Jhonnel Ababa, Jay Bayron, Marvin Dumandan and rising star Elee Bisera, all hoping to replicate last year’s strong showing when Ababa edged Guido van der Valk in a playoff to clinch the Apo title, with Bayron and Lascuña tying for third. Ababa is especially determined to defend his crown, banking on local knowledge and the energizing support of the home crowd.
The Davao-based pros also look to extend their dominance to next week’s ICTSI South Pacific Classic in what could be a two-leg sweep.
But they’ll have to fend off a deep and dangerous field in what is shaping up to be a wide-open battle.
One major threat is in-form Reymon Jaraula, fresh off a commanding nine-stroke victory at home in Del Monte where he closed with a recordbreaking 63. If that performance is any indication, the homegrown bets could be primed for another week of trials and tough competition.
Still, a slew of top contenders from across the country and overseas stands in the way.
Van der Valk, winner of the Forest Hills leg last June, is back in the hunt, alongside redemption-seeking Michael Bibat, Zanieboy Gialon, Dino Villanueva, Ira Alido, Ryan Monsalve, Nilo Salahog, Albin Engino, Art Arbole, Fidel Concepcion, Kristoffer Arevalo, John Michael Uy and Arnold Villacencio.
Yulo eases his way to finals in worlds
BusinessMirror
Sports
IBy Josef Ramos
T was another day at the office for Carlos Yulo as the Olympics double gold medalist advanced to the finals of both the floor exercise and vault— the same events which he ruled in Paris last year—in the 53rd FIG Artistic Gymnastics World Championships at the Indonesia Arena in Jakarta late Sunday. Also, it was as if Yulo isn’t recovering from a left wrist injury he incurred in training while experimenting on a more compelling dismount two months ago.
to the air and land solidly on the floor, with Armenia’s Arthur Davtyan (14.566) running second followed by Ukraine’s Nathan Chepurnyi in third (14.316).
He pulled off another spectacular performance in the vault and twirled and tumbled his way to second place with 14.560 points, closely behind Filipino-British Jarman (14.700)—Kameron Nelson (14.30) of the US placed third.
“I’m so happy with his performance, it looks like Paris again,” Carrion said. “Carlos is in good mood. I am hoping the girls will also deliver their best tomorrow.”
Also in the floor exercise final are Kazakhstan’s Milad Karimi, Japan’s Kazuki Minami, Hungary’s Kriztofer Meszaros, Thailand’s Tikumporn Surintornta and Great Britain’s Luke Whitehousewill be joining them in Friday’s floor exercise final.
Joining the vault final are Italy’s Tommaso Brugnami, China’s Huang Mingqi, Japan’s Kazuki Minami and Mukhammadzon Iakubov of the Individual Neutral Athletes team.
World’s first-timer Juancho Miguel Besana wound up in 39th place in the all-around with 68.645 points and missed the 24-athlete cut, while Ivan Cruz was 66th in vault (12.000) and Justine Ace de Leon 45th in the rings (12.200) where only the top eight advanced to the finals.
Paris Olympian Aleah Finnegan, meanwhile, will be competing in grief—her 92-year-old grandmother, Catalina Cruz, passed away because of stroke in their Caloocan residence—as she and the other women bets on Team Philippines plunge into action on Tuesday.
Pencak Silat ace Carpio clinches semifinals berth
T“I want to thank God for my performance,” Yulo said through Gymnastics Association of the Philippines president Cynthia CarrionNorton. “I’m also just grateful that I was safe from any accident and I’m just really grateful that I got to compete, show my performance and come back here in a good state.”
“While I wasn’t able to do the all-around, I’m still proud that I am here and still aiming for the best,” added Yulo, who opted not to risk his wrist
any further.
Yulo earned top spot in the floor exercise with 14.750 points via a stunning routine that saw him soar
The floor exercise final is on Friday while the battle for the vault gold medal is set Saturday in elite gymnastics competition that drew 476 top athletes from 76 countries.
IT’S like Paris all over again as Carlos Yulo emerges top qualifier in the floor exercise and second-placer in vault—the same events where he won
will extend special travel support to the PSC to help enhance the comfort and convenience of national athletes on official trips.
This includes exclusive fare discounts and additional travel benefits to ensure that Filipino athletes can travel with greater ease and focus as they represent the country in international competitions.
PAL will also reward medalwinning athletes from the Southeast Asian and Asian Games with Mabuhay Miles incentives.
“At Philippine Airlines, our vision is to be a globally recognized airline trusted for our world class excellence and customer experience,” PAL president Richard Nuttall said. “As the country’s flag carrier, our pledge is to promote Filipino athletes and the values that inspire pride and global recognition for the whole nation.”
“We stand together with the country’s sports champions as they aspire for greatness, ensuring that they are supported with the warmth and care
FROM snatching a dramatic win in Bukidnon to returning to her home course, all signs suggest another strong showing from Sarah Ababa in the International Container Terminal Services Inc. (ICTSI) Apo Golf Classic that unfolds Tuesday. But with a star-studded cast led by the return of multi-titled Princess Superal, Ababa’s bid for back-to-back victories will be put to a tough test. The P1 million championship has drawn a compact yet talent-laden field, brimming with subplots that could lead to another heart-stopping playoff finish. Fresh off a thrilling rally at Del
Monte where she clawed back from five strokes down and edged Chanelle Avaricio in a nerve-wracking second playoff hole, Ababa enters the Apo event with renewed confidence.
The local course, where she learned the game and nurtured her skills, offers a familiar setting that could boost her quest for a fifth Ladies Philippine Golf Tour crown.
Yet despite her recent triumph, Ababa remains cautiously optimistic.
“It’s quite difficult to win again, so I’ll just enjoy the competition and play my game,” said the Davaoeña, aware of the stiffer challenge ahead. “I’m sure they’ll be targeting my back.”
Superal, who denied Ababa in their playoff showdown at Caliraya Springs last August, is back to reassert her dominance.
The multi-time LPGT champion brings not only experience but also a killer instinct in closing out tight finishes – adding another layer of tension and excitement to the 54hole event organized by Pilipinas Golf Tournaments, Inc.
Should both Superal and Ababa find themselves in contention come the final round, fans could be in for another explosive playoff finish, mirroring their past head-to-head clashes.
Finnegan and another first-timer, Haylee Garcia, will compete in women’s individual all-around and floor exercise, uneven bars,
balance beam and vault while Yulo’s younger sister
of the Filipino heart,” he added. PSC chairman Patrick Gregorio praised the renewed alliance, calling it a crucial step in streamlining athlete mobility and representing Filipino excellence abroad.
“When you touch the heart of an athlete, they start winning. And when they start winning, they touch the hearts of 110 million Filipinos,” Gregorio said. “Philippine Airlines is giving our athletes a runway to take flight and achieve for the nation. We are blessed that they understand this so well: that we are one flag, one heart.”
The collaboration underscores PAL’s ongoing mission to uplift Filipino sports and strengthen the nation’s presence in global competitions. By easing the travel burden and celebrating athletic triumphs, the airline reaffirms its role not just as the country’s flag carrier but as a proud supporter of the Filipino sporting spirit.
in the event presented by Great Wall Motor Philippines and supported by Gentry Timepieces through Hayb Anzures. Lim—who dominated Thailand ace Tanakorn Srirat, 6-1, 6-2, and ninthranked Charles Kinaadman, 6-4, 7-6(3)— looked poised for another title before fatigue and cramps curtailed his challenge. Tenniele Madis, meanwhile, capped her two-week tear with a ruthless 6-2, 6-0 win over doubles partner Stefi Aludo to claim the women’s singles crown and pocket P100,000. Madis, who dropped just six games in five matches, blanked Rachel Velez, 6-0, 6-0, in the semifinals—Velez had earlier eliminated top seed Mikaela Vicencio in a surprise upset. Aludo shocked second seed Tiffany Nocos, 6-3, 6-0, in the
the Palawan Pawnshop National Tennis Championships.
gold medals at last year’s Olympics. GAP PHOTO
PRINCESS SUPERAL is back to reassert her dominance at the Apo Classic. LPGT PHOTO
