Malacañang said the newly signed Association of Southeast Asian Nation (ASEAN) Trade in Goods Agreement (ATIGA) and the ASEAN-China Free Trade Area (FTA) 3.0 will open the regional bloc to emerging industries with Beijing and boost internal trade within the regional bloc.
By Reine Juvierre S. Alberto @reine_alberto
nine months of 2025, per the latest data from the Bureau of the Treasury (BTr). This, even as it scaled back its borrowings in September. The January-September total is higher by 4.08 percent than the P2.3 trillion posted during the same period in 2024, due to high domestic debt issuances. Domestic borrowings increased by 9.19 percent to P1.960 trillion as of end-September, from P1.795 trillion a year ago.
The government borrowed P1.053 trillion through fixedrate treasury bonds (T-bonds) and P181.150 billion from net Treasury bills (T-bills) during the nine-month period. About P300 billion in fixed-rate treasury notes and P425.613 billion in retail treasury bonds were also generated as part of the local borrowing program. Meanwhile, foreign financ ing declined by 13.84 percent to P434.597 billion as of end-Sep tember from last year’s level of P504.447 billion. Of the amount, P171.307 bil lion came from program loans, P71.325 billion from project loans and P191.965 billion from the issuance of global bonds.
HE government’s push for fiscal consolidation may falter without transparent spending and depoliticized allocations, economists warned, as the national budget should shift from political patronage to inclusive growth.
‘Use science to boost coffee yield’
While the robusta variety dropped by 13 percent to $4.66 per kilo in the reference month from $5.33 per kilo last year, World Bank figures indicated that it had been steadily increasing over the past three months.
In 2024, local coffee output reached an eight-year high of nearly 32,000 metric tons (MT) from the average 30,000 MT yield, based on Philippine Statistics Authority (PSA) data.
Juan raised concerns, however, about the current government support for the domestic coffee sector, which mostly leans toward post-harvest machinery.
“It seems as if every bean should be roasted, which on our end shouldn’t be all there is because it’s just a temporary happiness for the farmer to be able to roast and sell,” she said.
Juan noted that roasting would be a “short-term” solution, since it wouldn’t enhance bean quality and would not address the country’s lack of coffee trees.
“This is not to say that the plans to provide post-harvest facilities are wrong. But we need to concentrate on research, climate resilience, and the sustainability of the entire industry, not just the processing,” she said.
PSALM to raise ₧40B-₧60B from Agus hydro complex
By Lenie Lectura @llectura
THEPower Sector Assets and Liabilities Management (PSALM) Corporation is looking to raise anywhere from P40 billion to as much as P90 billion from the sale of the AgusPulangi hydroelectric complex.
The Agus-Pulangi hydropower complex consists of seven run-of-river hydroelectric power plants located in southern and central Mindanao
with a combined installed capacity of 1,000 megawatts (MW). The state firm is eyeing to privatize this generation asset via a concession deal.
while debt-funded spending helped protect the economy from recent shocks and the pandemic, the “rapid pace” of debt buildup now runs the risk of crowding out social and infrastructure investments.
and depoliticized allocation mechanisms are necessary for a credible fiscal consolidation plan.
“This is the only way that the national budget can evolve from a tool of distributive politics into a genuine instrument of inclusive and sustainable growth,” they said. Guinigundo and Mañalac said that
The Philippines’s outstanding debt stands at a tall P17.5 trillion, with about P1 trillion of next year’s budget set aside for interest payments alone.
“To sustain fiscal sustainability, the government must tighten its deficit path, improve revenue efficiency and
“It can be as low as P40 billion to as high as P90 billion, but again, aggressive numbers,” said PSALM President Dennis Dela Serna at a recent public hearing of the Senate Committee on Finance. “The concession of the Agus-Pulangi complex, we hope to be also successful within the term of PBBM [President Ferdinand Marcos, Jr.],” he added. If the planned privatization will be successful, the amount will help reduce PSALM’s financial obligations, which stood at P259.38 billion as of end-August this year. “We hope that with a successful concession of Agus-Pulangi, it should be more than enough to pay off all
rationalize low-impact spending,” they said.
They also called for a mediumterm fiscal strategy anchored on credible deficit reduction targets, sound expenditure management and improved public sector productivity.
The 2026 national budget, they said, highlights the urgency of these reforms as spending continues to expand amid persistent governance challenges.
Despite the realignment of P255 billion from flood control projects to education, food security and healthcare, they noted that this exposes the weak gatekeeping role of agencies in ensuring the integrity and efficiency of capital outlays, particularly those susceptible to political capture.
Civil society groups, they added, have raised concerns over the persistence of pork and patronagestyle allocations in social protection programs, as well as legislators’ control over infrastructure budget.
“These embedded entitlements
these obligations once they mature,” Dela Serna said.
PSALM was created under Republic Act No. 9136, or the Electric Power Industry Reform Act of 2001, to lead the privatization of generation and transmission assets of the National Power Corporation.
“From my perspective, I have to wipe out close to P100 billion worth of obligations because the Murang Kuryente Act should cater to that differential…I just need to provide, at the minimum, P100 billion which I hope to receive already from Agus-Pulangi and other privatization activities,” Dela Serna said.
blur the line between constituency service and pork allocation, weakening programmatic targeting and outcome monitoring,” Guinigundo and Mañalac said.
The P250 billion worth of unprogrammed appropriations in next year’s budget and the persistence of these allocations likewise reflect a continuing tension between fiscal flexibility and fiscal discipline—a tradeoff that, they said, the Philippine budget system has yet to resolve.
While some procedural reforms show progress, they noted that the bicameral conference committee is still viewed as a “black box” where last-minute insertions and realignments occur without disclosure. They warned that without addressing the loopholes in unprogrammed spending, opaque bicameral adjustments and politically driven allocations, the administration’s fiscal consolidation goals could remain “procedural rather than substantive.”
Reine Juvierre S. Alberto
Wider markets, supply…
the Philippines to benefit from “stronger” supply chain links and gain “broader” market access even in times of crisis.
Trade and Industry Secretary Cristina A. Roque signed the two landmark agreements on the sidelines of the 47th ASEAN Summit on Saturday. The Summit ends on Tuesday.
Citing the Department of Foreign Affairs (DFA), Palace Press Officer Claire Castro said ASEAN-China FTA protocols will explore possible cooperation in emerging sectors.
“The upgraded protocols opens new opportunities for high impact operations in areas that are increasingly vital to our region’s future from the green and digital economies to sustainable supply chain connectivity,” she said in a press briefing on Sunday.
The new protocols, Castro added, will also help empower micro, small, and medium enterprises by improving their access to regional value chains and strengthening frameworks on fair competition and consumer protection.
Under the ACFTA 3.0 Upgrade, Asean and China agreed to “deepen” cooperation in digital, green, and sustainable trade through “improved customs procedures, harmonized standards, and greater transparency” in trade measures.
The previous version of the protocols contained guidelines on trade in goods, rules of origin, customs procedures and trade facilitation and standards, technical regulations and conformity assessment procedures,
sanitary and phyto sanitary measures, trade and services, and investments and economic and technical cooperation.
Castro said the upgraded protocol will include new guidelines on competition and consumer protection, digital economy, green economy, supply chain connectivity, and micro, small, and medium enterprises.
ATIGA and trade challenges
THE Palace official said they are also looking forward to the implementation of the the ATIGA to “address contemporary trade challenges.”
ATIGA establishes authorized economic operations to allow certified traders to benefit from expedited cargo clearance throughout the ASEAN.
It also allows parties to comply easily with administrative requirements of self-declaration of origin, the implementation of the electronic certificate of origin or E-form B and the acceptance of digital.
“The enhanced agreement offers significant benefits particularly through improvements in trade facilitations measures, transparency provisions, dispute settlement mechanisms and the inclusion of new and emerging trade elements,” Castro said.
Meanwhile, DTI said the ACFTA upgrade, which builds on the 2002 framework implemented in 2010, introduces “stronger” consumer protection rules to promote fair competition and product safety in the Asean-China Market.
“The deal is also expected to benefit Filipino enterprises and consumers by enhancing trust in ecommerce and cross-border transactions through transparent and accountable trade practices,” DTI
Sept gross borrowings IN September alone, gross borrowings plunged by 64.89 percent to P128.913 billion from P367.183 billion in the same month last year. External borrowings, which were all project loans, shrank by 96.23 percent to P8.365 billion from P221.983 billion in the previous year when the government returned to the international debt market by issuing triple-tranche US dollar bonds. On the other hand, local financing saw a 16.97-percent decline, dropping to P120.548 billion from P145.200 billion. This consisted of P111.848 billion in T-bonds and P8.7 billion in net T-bills.
The government recorded a narrower budget deficit of P248.1 billion in September, lower by 9.22 percent year-on-year from P273.3 billion.
‘Welcome development’
MICHAEL L. RICAFORT, chief economist at Rizal Commercial Banking Corporation, said this is a “welcome development” and indicates reduced need for future additional borrowings that add up to the government’s outstanding debt. The government’s outstanding debt climbed to P17.468 trillion as of end-August, up by 12.3 percent from P15.550 trillion during the same period a year ago.
“The narrower budget deficit could slow GDP growth amid slower government spending, especially on infrastructure amid anti-corruption measures that could ironically improve fiscal performance in terms of reduced need for more national government borrowings,” Ricafort said. This year, the government will borrow a total of P2.6 trillion, of which P2.106 trillion will be borrowed from the local debt market, while P494 billion will come from foreign financiers. So far, the government has raised 92.07 percent of the target.
said in its statement.
The Trade department said cooperation will extend to emerging sectors such as artificial intelligence and advanced technologies to boost regional innovation.
Meanwhile, the ATIGA Second Protocol “modernizes” Asean’s main framework for the free flow of goods within the region.
According to DTI, the new provisions under this deal cover remanufactured goods, trade and the environment, supply-chain connectivity, and trade during humanitarian crises. This agreement, it added, strengthens transparency and introduces “faster, more practical mechanisms” for resolving trade issues.
For the Philippines, the updated rules of ATIGA are expected to improve logistics and market efficiency, particularly in times of crisis. In particular, DTI said the new Trade in Crisis Situations (TICS) provisions will allow the use of scanned trade documents for essential goods like food, medicine, and relief items, expediting deliveries across borders during emergencies.
“Member-States also give priority to each other so that the region’s needs during crisis are met immediately,” the Philippines’ Trade department explained further. The country’s trade chief said the upgraded trade agreements will make regional commerce “more responsive” to the needs of Filipinos, particularly in times of need.
“These milestones show how ASEAN cooperation can directly benefit our people. By modernizing trade rules, promoting fair competition, and improving how goods move across borders even during emergencies, we can build an inclusive regional economy that supports growth, stability, and opportunity for all,” Roque said.
With Andrea E. San Juan
DFA prepares repatriation of more than 200 Filipinos arrested in Myanmar scam hubs
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By Malou Talosig-Bartolome
MORE than 200 Filipinos arrested in Myanmar during a sweeping military operation on scam hubs are now seeking repatriation, the Department of Foreign Affairs (DFA) confirmed on Sunday.
The crackdown, conducted on October 20, targeted KK Park in Myawaddy, a notorious compound near the Thai border known for housing transnational cybercrime syndicates.
Myanmar’s military detained over 2,000 individuals, including foreign nationals, and seized 30 Starlink satellite devices allegedly used to facilitate online scams. The operation was part of a broader regional push involving Thai and Chinese authorities to dismantle scam networks exploiting migrant labor.
The DFA said that 222 Filipinos were among those arrested and have since requested repatriation assistance.
Of these, 66 have crossed into Thailand and are being processed by Thai authorities, while nine are now in Yangon in the custody of Myanmar officials.
The usual repatriation process involves both the Philippine Embassies in Yangon and Bangkok, requesting clearance for affected Filipinos to cross into Thailand and be repatriated via Bangkok. Clearance typically takes three to four weeks from the time of request.
Government-to-Government [G2G] channels,” the DFA said. Filipinos in scam hubs or their families may contact the Philippine Embassy in Yangon for assistance through the following hotlines:
“The Department, in coordination with the Department of Migrant Workers [DMW] and other relevant agencies, remains committed to the safe repatriation of affected Filipinos through established
Major witness set to attend next Senate Blue Ribbon hearing
SBy Butch Fernandez @butchfBM
HOULD he be reelected as chairman of the Senate Blue-Ribbon committee when the Senate resumes session on November 10, Senate President Pro Tempore Panfilo M. Lacson said he will set Nov. 14 as the panel’s next hearing on allegedly anomalous flood control projects.
Lacson said a “very important witness” will be invited to the hearing to speed up the filing of airtight cases against some politicians, Department of Public Works and Highways officials and erring contractors.
Senator cites need to make Spes contribute to job readiness
THE Special Program for Employment of Students (Spes) should contribute to senior high schools’ job-readiness.
Sen. Sherwin Gatchalian made the call at the weekend, urging the Department of Labor and Employment (Dole) to ensure that the Spes is worth investing in, after receiving a report showing that the program has had little impact on the academic and job readiness of youths.
He cited a report by the International Initiative for Impact Evaluation, which found that the Spes does not positively affect academic outcomes or work readiness in the medium term. The Dole, alongside local governments (LGUs), implement the Spes to give the youth temporary employment during school breaks. For 2026, P800 million is allotted for the program.
“If we can link the Spes to our senior high school students, we can give them work and help them gain experience,” said Gatchalian, Chairman of the Senate Committee on Finance.
Labor Undersecretary Carmela Torres said the department is working to ensure that students’ work assignments give them practical work experience, life skills, and exposure to real-world work environments.
Gatchalian also pointed out that helping senior high school students through the SPES can help address Filipinos’ dissatisfaction with senior high school.
In 2024, the Dole assisted 84,745 beneficiaries of the Spes.
Butch Fernandez
Retired Marine TSgt. Orly Guteza, who earlier testified that as security consultant he participated in dropping off “basura” (bundles of cash stashed in bags and boxes) at addresses associated with politicians, will also be invited to the next hearing.
“If elected again as Blue-Ribbon [committee] chairman on Nov. 10, our hearing will resume on Nov 14. To help speed up the filing of airtight cases against some politicians, DPWH officials and errant contractors, we will invite among others, a ‘very important witness’ and retired TSgt. Orly Guteza to shed more light on his ‘sinumpaang salaysay,’” Lacson said in a post on X.
Guteza is the “witness” presented by Sen. Rodante Marcoleta at the panel’s September 25 hearing. Marcoleta said Guteza was referred to him by former congressman Michael Defensor.
In his testimony, Guteza claimed that he delivered suitcases of cash, which he said was codenamed “basura [trash]”, to the homes of ex-Rep. Elizaldy Co and former Speaker Martin Romualdez. Romualdez denied the allegations.
Lacson said the Blue Ribbon committee left the investigation of the possible violation in Guteza’s notarized document to the Executive Judge of the Manila Regional Trial Court, after lawyer Petchie Rose Espera
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n +959985210998 n +959409883434 (Viber)
denied notarizing, signing or participating in the preparation of Guteza’s affidavit.
On the other hand, Lacson said he has discussed with Senate President Vicente Sotto III the idea of taking back back the Blue-Ribbon committee chairmanship, after he vacated the post on October 6, citing the “disappointment” aired by some members of the majority over his handling of the proceedings. Many members of the majority were since quoted as wanting Lacson to return.
Lacson maintained that he will maintain a blindfold mentality, meaning he will be impartial and go where the evidence leads him.
Retired officers warn: Military junta ‘catastropic betrayal
RETIRED military officers have broken their silence amid political tension, warning against any extra-constitutional moves such as a military junta, calling it a “catastrophic betrayal of democracy.”
In a strongly worded statement dated October 24, the Association of General and Flag Officers (Agfo), composed of retired senior officers of the Armed Forces, expressed “full and unequivocal support” for the Department of National Defense (DND) and military leadership in their commitment to constitutional order.
“Any extra-constitutional move, such as a military junta, would be a catastrophic betrayal of our democracy,” the group said.
“It would betray the very democratic principles we spent our careers defending and invite devastating consequences that would harm our economy, our international standing, and the daily lives of every Filipino.”
of democracy’
The statement was issued amid corruption exposés in government infrastructure projects and speculations of alleged destabilization efforts.
Defense Secretary Gilberto Teodoro earlier warned of “catastrophic consequences” should any group attempt to undermine civilian authority or constitutional order.
The Agfo, president retired Maj. Gen. Gerardo Layug, said the group supports Teodoro’s call for unity and adherence to democratic processes.
“As history has repeatedly taught us, the military is not the solution to political problems,” the statement read.
The group acknowledged widespread public anger over corruption scandals but drew a sharp distinction between legitimate dissent and unconstitutional acts.
“We recognize and share the profound, righteous indignation against corruption. This is not a
partisan cause; it is a patriotic duty,” Agfo said.
“However, a clear and unambiguous line must be drawn. To peacefully demand accountability from public officials is a protected democratic right. To exploit these legitimate public sentiments to advance a separate, unconstitutional agenda is a betrayal of the very people and institutions we are sworn to protect.”
Agfo urged Filipinos to uphold “sobriety and unity under the constitution,” saying the only acceptable way forward is through lawful and democratic means.
“The only path forward is to demand accountability and fight corruption through the legal and democratic mechanisms our nation provides,” it added.
Agfo, established in 1998, has consistently spoken out on issues affecting national security, military professionalism and governance. PNA
Phivolcs record minor eruptions at Taal
TBy Jonathan L. Mayuga @jonlmayuga
AAL Volcano had a series of minor eruptions on Sunday, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported.
Phivolcs said it recorded one phreatic and two phreatomagmatic explosions at the volcano’s main crater. The phreatic eruption occurred at 2:55 a.m., followed by phreatomagmatic events at 8:13 a.m. and 8:20 a.m. The eruptions
generated plumes between 1,200 and 2,100 meters above the crater.
A phreatic eruption occurs when water comes into contact with hot volcanic materials such as rocks or gases.
No magma is involved in this type of eruption, which produces only a steam plume.
Meanwhile, a phreatomagmatic eruption happens when magma interacts with water, generating steam, ash, and occasionally fragmented volcanic materials.
Taal is one of the country’s most active volcanoes. It is believed to be the smallest
active volcano in the world.
Phivolcs, however, maintains the Alert Level 1 status of Taal Volcano, which means “low-level unrest.”
Nevertheless, Phivolcs warned that sudden phreatic or phreatomagmatic explosions, volcanic earthquakes, minor ashfall, and lethal accumulations of volcanic gases may still occur in the main crater.
Phivolcs said people are prohibited from going to the volcano island, particularly the main crater, owing to the risk of sudden hazardous events.
Cops told to coordinate with local govts for safer ‘Undas’
An yangonpe.atn@dfa.gov.ph
DFA Spokesperson Angelica Escalona said the Philippine Embassy in Yangon and Bangkok continues to coordinate with Myanmar and Thai authorities to expedite the repatriation process and ensure the safety of all affected nationals.
UA&P unions move closer to strike
By Justine Xyrah Garcia
TWO labor unions at the Opus Dei-run University of Asia and the Pacific (UA&P) have filed their strike-vote reports before the National Conciliation and Mediation Board (NCMB), moving a step closer to a work stoppage after months of unresolved collective bargaining talks.
The UA&P Union of Faculty Members (UA&PUFM) and the UA&P Union of Allied Employees (UA&PUAE) submitted their reports on October 24 after the management again failed to make a new counteroffer during mediation.
The filing begins the seven-day waiting period before a legal strike can proceed under the Labor Code.
In a statement on Sunday, UA&PUFM
President Ferdinand D. delos Reyes said the strike vote was prompted by management’s continued refusal to address long-standing issues on pay and benefits.
“As teachers and employees, we’ve taught and learned of the social teachings of the Church which our institution holds true and dear. We enjoin management to act on the spirit contained in those social teachings, giving priority to people, to persons and their welfare,” delos Reyes said.
Not enough
THE unions have been pushing for seven economic provisions in the new collective bargaining agreement, including reforms in the salary and promotion structure, health insurgance coverage for dependents, medicine reimbursement, educational and food allowances, and a signing bonus.
Talks reached a deadlock on June 25, leading both unions to enter preventive mediation in July.
They later filed separate notices of strike in August, citing alleged unfair labor practices and management’s refusal to grant non-negotiable concessions needed for conciliation. (See: https://businessmirror. com.ph/2025/08/07/strike-looms-atuap-over-economic-demands/)
By September, delos Reyes told the B usiness M irror that management’s only new proposal was a funeral-loan program, while other offers—such as the P150,000 HMO limit, seed money for a child-minding
THE Philippine Military Academy (PMA) must fast-track its transformation into a “future-ready” institution, capable of producing leaders for a modernized defense force.
In a news release over the weekend, Defense Secretary Gilberto Teodoro underscored the role of the country’s premier military school in adapting to rapid technological shifts and regional security challenges.
holidays
“Make sure all doors and windows are locked, unplug appliances, and inform trusted neighbors or barangay officials if you’ll be away. If you notice any suspicious activity, report it immediately to the nearest police station or through our hotlines and social media channels,” Nartatez advised. Coordination with barangay tanods and security volunteers has also been strengthened to ensure a quick response to any suspicious activity. Some 31,200 police personnel will be deployed in 5,065 cemeteries, memorial parks, and columbaria, as well as major roads from October 29 to November 3 as part of the PNP’s security operations this year. They will be supplemented by 11,700 uniformed personnel from the Armed Forces (AFP), Bureau of Fire Protection (BFP), and the Coast Guard (PCG). Another 29,900 force multipliers such as barangay tanods, radio groups, and nongovernment organization volunteers will also support the security operations. The PNP has also established 5,169 police assistance desks to provide guidance, security, and assistance to Filipinos during the holidays. Rex Anthony Naval
“We heard the initiatives that the PMA is undertaking to keep in step with the needs of the Armed Forces of the Philippines and the defense establishment, with due regard to advances in technology and the evolving geopolitical landscape,” he said in his keynote address during the PMA’S 127th founding anniversary celebration on Friday.
Teodoro said the Academy’s reforms are aligned with the Comprehensive Archipelagic Defense Concept, the Marcos administration’s strategic blueprint for building a credible and adaptive deterrence posture. He said the PMA must close the gap between “generalist” officer training and the specialized skills required for a 21stcentury military.
“The challenge is how to mitigate the gap
center, and free lunches—had already been in place. (See: https://businessmirror. com.ph/2025/09/02/uap-unions-remainhopeful-as-talks-stall-over-counteroffer/)
“Only the funeral loan is really new,” he said then.
A document obtained by this newspaper showed that the university’s latest counterproposal, dated October 16, offered modest adjustments tied to financial performance and student enrollment growth. The proposal included inflationary adjustments for 2025 and conditional salary increases of 1 to 2 percent in the following two years, depending on the increase in the number of paying students. The HMO limit would remain at P150,000 next year and increase to P175,000 by August 2027 only if enrollment rises by 20 percent. The document also stated that union representatives would be included in the salary and promotion review committee but without voting rights, giving them a limited, non-decision-making role. The medical and educational allowance would be reviewed after three years, and a P20,000 lump sum would be given to both unions in lieu of the P10,000 signing bonus per employee that the unions are seeking.
The same employee, when asked how a strike might affect classes, said disruptions could be significant since union members come from both academic and non-academic departments.
“[The] management said in one email to employees that they are ready so I guess they dont think that a strike would have much effect. We think otherwise,” he said.
The employee added that many workers are under financial strain, with some struggling to cover daily expenses or send their children for medical checkups.
“They claim that they don’t have any money but they seem to have the funds to have a Christmas party at a [hotel],” he also said. Almost 90 percent of union members voted in favor of the strike during elections held on September 24 and 25.
UA&P management, however, has maintained that its pay and benefits remain “above industry standards” and that the university’s current finances limit further adjustments.
between generalists who graduate here and the specialized skills that are needed for a 21st or 22nd century AFP,” he added. Teodoro also announced a new collaboration with the Coast Guard (PCG), allowing a limited number of PMA cadets to be commissioned as Coast Guard officers upon graduation—a move aimed at deepening interoperability in the country’s maritime domain.
“Interoperability is essential,” he said. “Knowledge of each other’s skills is sine qua non for seamless operations at sea.” Teodoro reaffirmed President Marcos’s “marching order” to strengthen the welfare, career development, and readiness of AFP personnel and veterans.
“We are relying on you to raise the flag as a mark of Filipino pride and distinction throughout the world,” he said, urging PMA cadets to uphold professionalism and global competitiveness as “the best deterrent against any oppressor that wants to take advantage of this country.”
Philippines signs UN convention vs cybercrime
THE Philippines signed the United Nations Convention against Cybercrime during a convention in Hanoi, Vietnam, making it one of the first countries to join the global treaty that facilitates the crossborder sharing of electronic evidence, and recognizes the non-consensual distribution of intimate images as an offense.
Tulfo bill gives PWD cards lifetime validity
Butch Fernandez @butchfBM
GOOD news for persons with disability (PWD) who currently go to the trouble of lining up periodically to renew the disability cards that allow them precious discounts on essentials.
A bill seeking lifetime validity for Persons with Disability (PWD) Identification Cards. Under Tulfo’s Senate Bill 1405, which seeks to amend Republic Act 7277 or the “Magna Carta for Persons with Disability.” The issuance of PWD IDs will be free of charge and shall be valid for the lifetime of the cardholder.
“This is the plight of Filipino PWDs: once their ID expires, they need to line up again to get their requirements, and they need money for transport fares. They need to yet again allot time, energy, and resources just to renew their IDs, despite their disability. It is like adding insult to injury!” the senator lamented.
“Their PWD IDs are very important because they receive their
benefits through that card. Giving expiry dates to their IDs is like depriving them of access to the benefits given to them by law,” he added. The “Magna Carta for Persons with Disability” provides several benefits and privileges, including a 20-percent discount on goods and services, equal opportunities for employment and education, among others.
“The government should lighten the load of the PWDs who have long been suffering from their personal battles,” added Tulfo, chairman of the Senate Committee on Social Justice, Welfare, and Rural Development.
The neophyte senator said the bill, when enacted into law, “is a small but meaningful step toward respecting PWDs’ rights, easing their burdens, and streamlining public service.”
Tulfo, who has been championing the rights of marginalized sectors, likewise called for better implementation of the Magna Carta for PWDs and the cooperation of local governments.
Marcos gets vote of confidence from global infrastructure investors
ONE of the Philippines’ largest foreign investors expressed continuing confidence in the administration of President Marcos, acknowledging the President’s reforms and programs to strengthen the investment climate. During a courtesy call in Malacañan Palace, I Squared Capital top executives led by Founder and Chairman Sadek Wahba reaffirmed the company’s confidence in the Philippines and its continuing commitment to invest in the country’s infrastructure development. Marcos, together with several Cabinet officials, discussed with I Squared Capital executives the company’s plans to support the Philippines’ infrastructure development, particularly on energy, transport and logistics, and digital infrastructure.
I Square Capital executives made a courtesy call in Malacañan Palace ahead of the inauguration of the Company’s expanded Royale Cold Storage (RCS) facility in Bulacan.
With about $2 billion in enterprise value already invested across various sectors in the Philippines, I Squared Capital is one of the country’s largest foreign investors. Its investments contribute to advance the administration’s infrastructure initiatives, while fueling economic growth and job creation. Headquartered in Florida, USA, I Squared Capital is a leading global infrastructure investor managing over US$50 billion in assets, with investments in more than 90 companies across over 70 countries.
Marcos’ administration has strengthened public-private partnership (PPP) and pursued investment incentives and liberalization measures. These measures include the CREATE More Act of 2024; the PPP Code of the Philippines enacted in 2023; the Public Service Act of 2022; and the Amended Renewable Energy Act Implementing Rules (IRR) enacted in 2022.
More than 60 other nations signed the convention.
In a statement, the Department of Information and Communications Technology (DICT), said the Philippines was represented by Information and Communications Secretary Henry Aguda during the convention that ended on Saturday.
“Throughout the negotiations, the Philippines advocated for stronger safeguards to protect children online, greater technical assistance for developing nations, and a balanced approach between effective law enforcement and the protection of human rights and privacy,” the DICT said in a statement.
The convention criminalizes a range of cyber-dependent and cyber-enabled offenses, provides for the cross-border sharing of electronic evidence, and establishes a 24/7 cooperation among states.
It is also the first international treaty to recognize the non-consensual distribution of intimate images as an offence, marking a significant step for victims of online abuse.
“This is Digital Bayanihan in action, where nations, institutions, and communities work hand in hand to secure our shared digital future,” Aguda said.
In his message delivered by
Aguda, President Marcos cited the Philippines’ determination to strengthen global cooperation against borderless and rapidly evolving cyber threats, and to champion trust, accountability, and human rights in the digital age.
The DICT said it continues to strengthen its cyber resilience through initiatives such as Oplan Cyberdome, which aims to provide proactive cyber defense and rapid incident response; and Oplan Paskong Sigurado which seeks to promote public awareness from online scams and cybercrimes during the holiday season.
The Convention against Cybercrime was adopted by the General Assembly in December 2024, following five years of negotiation.
“The UN Cybercrime Convention is a powerful, legally binding instrument to strengthen our collective defenses against cybercrime,” UN Secretary-General António Guterres said during the signing ceremony.
“It is a testament to the continued power of multilateralism to deliver solutions. And it is a vow that no country, no matter their level of development, will be defenceless against cybercrime,” he added. Lenie Lectura
New Mining Fiscal Regime lRR out by December
By Jonathan L. Mayuga @jonlmayuga
THE Department of Finance
(DOF) is aiming to complete the final draft of the implementing rules (IRR) for Republic Act 12253, also known as the Enhanced Mining Fiscal Regime Act, before the end of the year.
This was disclosed by Finance Undersecretary Karlo Fermin Adriano, Undersecretary for Fiscal Policy, who handles the Monitoring Group of the Department of Finance, during the recently-concluded Mining Philippines 2025 Conference and Exhibition.
In coming up with a final draft for approval by the Finance Secretary, he said a series of stakeholder engagements will be held next month.
Michael Toledo, chairman of the Chamber of Mines (COMP), said the new mining fiscal regime marks a turning point for the Philippine extractive sector, rehabilitating how revenues are shared, investments are attracted, and compliance is managed.
He said it is important, hence, to provide clarity on how the landmark reforms brought about by the law can support both responsible resource governance and development goals.
In his presentation, Adriano said the DOF is committed to fully implement the law, starting with coming up with the IRR.
“The Department of Finance is committed to implementing this law swiftly, efficiently, and with full transparency. We will also continue
to engage with all stakeholders,” Adriano, who spoke about the Mining Fiscal Regime during a plenary session, said.
At the same time, the DOF is also working on expediting the share of local governments (LGU) that host mining operations.
For that, he said a Joint Administrative Order will be crafted in coordination with the DOF’s Bureau of Local Government Finance and the Department of the Interior and Local Government (DILG).
The Joint Administrative Order, he said, will be separate from the IRR of the Mining Fiscal Regime law.
THE chairman of the House Committee on Overseas Workers Affairs has welcomed Saudi Arabia’s abolition of the Kafala system, describing it as a “long overdue reform” and a “major victory for migrant workers.”
Party-list Rep. Bryan Revilla of Agimat, chairman of the House Committee on Overseas Workers Affairs, however, said that the move also ushers in a new phase of responsibility that requires “constant vigilance and strong diplomatic engagement.”
Under the Kafala system, a foreign worker’s employment and residency were controlled by a private sponsor, restricting job mobility and exit without the employer’s consent. The new contract-based model now provides workers with greater freedom of movement, legal
protection, and alignment with international labor standards.
“While the Kafala system has been formally abolished as a legal framework in Saudi Arabia, it remains important to examine its enduring cultural and social effects. Legal reforms are a significant step forward, but fostering a genuine shift in perspectives and practices toward migrant workers is an ongoing process,” the lawmaker said.
Citing 2023 Philippine Statistics Authority (PSA) data showing that Saudi Arabia remains the top destination for overseas Filipino workers (OFWs), Revilla emphasized that the policy change directly affects hundreds of thousands of Filipino workers.
He urged the Department of Migrant
“The BLGF and probably DILG will soon be issuing this clarification,” he said.
According to Adriano, the implementation of the new Mining Fiscal Regime law, signed by President Ferdinand Marcos Jr. last month, will be transparent, underscoring that stakeholders’ engagement will be done and made public. Meanwhile, the official said a roadmap for each of the commodities, such as gold, copper, and silver, will also be crafted. We will need to determine our place in this global economy. We must be able to identify what our competitiveness is and determine what we are lacking,” he said.
Currently, he said, the DOF is working with the Bureau of Internal Revenue (BIR) to provide clarity on the business tax for mining, in recognition of mining companies as contractors of the government, making them subject to 5 percent business tax.
Legislator welcomes Saudi Arabia’s abolition of Kafala system
Workers (DMW) to ensure the reform’s full and proper implementation, warning that gaps in enforcement could still expose OFWs to abuse, coercion, or denial of their rights.
“This is a big step toward the greater safety and security of our OFWs. Since this reform opens doors to improve their lives, we must make sure it does not remain just on paper. It must be backed by close monitoring, sustained attention, and strong coordination between the DMW and OWWA so that every worker feels the change in their daily lives,” Revilla said.
He also noted that this development gives the Philippines stronger leverage to encourage other Gulf states that still retain similar sponsorship systems to adopt comparable reforms. He called on the DMW
and the Department of Foreign Affairs (DFA) to intensify bilateral talks and push for improved labor protection standards across the Middle East. Revilla cautioned, however, that legal reform alone cannot undo decades of abuse. He stressed that cultural transformation and vigilant enforcement are equally necessary to protect the country’s modern-day heroes. To ensure that reforms translate into real protection, Revilla called for stronger coordination between the DMW and OWWA in areas such as emergency assistance and repatriation, legal aid and hotlines, and comprehensive pre-departure and postarrival orientation programs—supported by adequate funding that reflects on-the-ground realities. Jovee Marie N. dela Cruz
‘Responsible mining must co-exist with IP leadership’
RESPONSIBLE mining can and must co-exist with indigenous leadership, because sustainability is not achieved through technology alone, but through trust and integrity in relationships, Marie Grace T. Pascua, chairperson of the National Commission on Indigenous Peoples (NCIP) said.
Pascua, a native of Ifugao province, said the NCIP under her watch is strengthening open governance partnerships with government agencies and private actors to promote social accountability, transparency in benefit-sharing, and participatory monitoring of the environmental performance of operating mines.
“Ancestral domains are not merely areas rich in minerals. They are also vital ecological and cultural frontiers. Around eighty percent of the country’s key biodiversity areas overlap with ancestral lands—ecosystems that nurture watersheds, store carbon, and safeguard species,” she said.
Hence, in the emerging lowcarbon economy, she said the stewardship of Indigenous Peoples is
not peripheral; it is central to the global transition toward sustainability.
“Their traditional knowledge— refined through generations of living with nature, not against it— offers lessons that modern science continues to rediscover,” she said.
The NCIP is working closely with the Department of Environment and Natural Resources (DENR), the Mines and Geosciences Bureau (MGB), and local governments to strengthen the FPIC process—making it more transparent, predictable, and attuned to both cultural and regulatory realitieS, to ensure that agreements reflect not only the requirements of the law, but also the values and aspirations of the people whose lands bear the weight of these developments, Pascua said.
She said the NCIP envisions a new era of partnership grounded in the empowerment of communities as active participants in sustainable development, in strengthening social and environmental responsibilities through open and transparent governance, underscoring the need to improve institutional
efficiency and accountability within the NCIP systems, and in harmonizing national laws and international frameworks with the traditional governance structures of Indigenous Peoples.
“Together, these directions form the backbone of a vision where ancestral domains are not zones of exclusion, but spaces of collaboration and shared stewardship,” she said
She said FPIC is a principle that ensures every project within ancestral domains is undertaken with understanding, fairness, and integrity. And, while FPIC is sometimes seen as a procedural hurdle, she said that in truth it is a foundation of trust.
“When communities are genuinely informed and empowered to decide, development becomes not an imposition but a shared choice. It is through such processes that we can transform compliance into cooperation, and consent into confidence,” she said.
In her speech, she stressed that more than seventy percent of the country’s mineral resources are located within ancestral domains, a reality that reminds everyone that
mining cannot be separated from the lives of indigenous peoples.
“Their histories, cultures, and governance systems are embedded in the very landscapes where mineral wealth is found. For them, land is not property—it is identity, heritage, and life itself.”
In ending her speech, she called for shared stewardship and urged the industry to innovate not only in methods of extraction, but in models of inclusion, while calling on government to align its policies to move in one direction where protection and progress reinforce rather than contradict each other. IP communities, she said, should also continue to lead the conversation, not from the margins, but from the center, where they have always belonged.
“The minerals beneath our feet are finite. But the spirit of care, resilience, and solidarity that has sustained our Indigenous communities is enduring. As we pursue innovation and growth, may we never forget that the true measure of development is not what we take from the earth, but what we give back to it—and to the generations yet to come,” she also said.
The World
Editor: Angel R, Calso A5
Rubio addresses Gaza ceasefire and Latin America sanctions amid ongoing diplomatic efforts in Asia
By Lindsay Whitehurst & Courtney Bonnell Associated Press
WASHINGTON—Secretary of State Marco Rubio said Saturday that Israel, the US and the other mediators of the Gaza ceasefire deal are sharing information to disrupt any threats and that allowed them to identify a possible impending attack last weekend.
The State Department said a week ago that it had “credible reports” Hamas could violate the ceasefire with an attack on Palestinian civilians in Gaza.
“We put out a message through State Department, sent it to our mediators as well, about an impending attack, and it didn’t happen,” he told reporters en route from Israel to Qatar, where he met up with President Donald Trump for a multi-stop tour in Asia. “So that’s the goal here, is ultimately to identify a threat before it happens.”
Rubio said multiple countries are interested in joining an international stabilization force that aims to deploy to Gaza but that they need more details about the mission and rules of engagement.
The US could call for a U.N. resolution supporting the force so more nations can take part, he said, adding that the US has been talking with Qatar, Egypt and Turkey and noting interest from Indonesia and Azerbaijan.
“Many of the countries who want to be a part of it can’t do it without that,” he said of an international mandate.
He also noted that next week the chairman of the Joint Chiefs of Staff, Gen. Dan Caine, is expected to be the latest in a parade of US officials to travel to Israel.
Vice President JD Vance joined special envoy Steve Witkoff and Trump adviser and son-in-law Jared Kushner earlier in the week in Israel in an effort to shore up the fragile ceasefire deal. Rubio arrived just as Vance was departing, meeting with Israel Prime Minister Benjamin Netanyahu and touring a US-led coordination center monitoring the ceasefire.
Rubio touched on several other key foreign policy priorities in his remarks to reporters. Here’s a look:
Sanctions on Colombia’s president
A DAY after the Trump administration imposed sanctions on Colombian President Gustavo Petro, his family and a member of his government over accusations of involvement in the global drug trade, Rubio said it was not about targeting the country itself, which is one of the closest American allies in the region.
“This is not a US vs. Colombia thing,” he said. “This is us reacting to the actions of what’s turned into a hostile foreign leader.”
He said the US has excellent relations with Colombia’s people and institutions and that the Trump administration didn’t want to hurt the country’s economy, so it held off on tariffs. Trump last weekend had threatened to unleash them.
Asked if he would rule out tariffs, Rubio said Trump makes those decisions but “obviously the president was aware of the options available to him and chose these instead.”
The sanctions ramped up tensions with Colombia’s first leftist leader, who has hit back at the Trump administration.
“I believe the current US government violated its rule of law by sanctioning me as if I were a mobster, when I dedicated my life to fighting the mafia,” Petro wrote on X. “Their desperation will lead them to set traps for me. I’m ready to fight. For myself and for my people.”
Stance toward Venezuela
REPORTERS asked Rubio whether other leaders in the region may help urge Venezuelan President Nicolás Maduro to step down, with speculation swirling about whether recent US military actions in Latin America are aimed at ousting Maduro.
Rubio responded that when the US deploys assets in its own hemisphere, “everyone sort of freaks out.”
The Trump administration has launched a series of strikes against alleged drug-running boats in the Caribbean and eastern Pacific and is deploying an aircraft carrier to South America, a major escalation of an already robust military buildup in the region.
Rubio insisted that the US is taking part in a counterdrug operation. And he again accused Maduro’s government of allowing and participating in the shipment of narcotics.
“This is a very serious problem for the hemisphere, and a very destabilizing one,” Rubio said. “And that has to be addressed.”
He says other countries in the region, including Ecuador, Mexico, Jamaica and Trinidad and Tobago, cooperate in combating drug trafficking.
Maduro said the US government is fabricating a war against him.
“They are fabricating an extravagant narrative, a vulgar, criminal and totally fake one,” Maduro said Friday night in a national broadcast. “Venezuela is a country that does not produce cocaine leaves.”
Taiwan and China
RUBIO said it was important for the US to remain engaged with China but that Taiwan would not become a bargaining chip for the world’s largest economies to reach a larger trade agreement.
Trump says he expects to meet Chinese President Xi Jinping in South Korea in the coming days during his Asia trip. Beijing claims sovereignty over the self-governed island and vows to seize it by force if necessary. The United States is obligated by its own laws to give military support to Taiwan.
“If what people are worried about is we’re going to get some trade deal or we’re going to get favorable treatment on trade in exchange for walking away from Taiwan—no one is contemplating that,” Rubio said.
East Timor joins Asean in bloc’s first expansion since the 1990s
By
KUALA LUMPUR, Malaysia—
The Association of Southeast Asian Nations welcomed East Timor as its newest member Sunday, which its prime minister said was a “dream realized” for the tiny nation, while Cambodia and Thailand signed an agreement expanding a ceasefire on their borders with the hope it will lead to a lasting peace.
“Today, history is made,” Prime Minister Xanana Gusmao told the other leaders as the flag of East Timor, also known as Timor Leste, was added to the other 10 on the stage at a formal ceremony in Kuala Lumpur.
It was Asean’s first expansion since the 1990s and was more than a decade in the making.
“For the people of Timor Leste this is not only a dream realized, but a powerful affirmation of our journey — one marked by resilience, determination and hope,” he said.
The ceremony marked the opening of Asean’s annual summit, followed by two days of high-level engagements with key partners including China, Japan, India, Australia, Russia, South Korea and the US. Thailand and Cambodia sign expanded border ceasefire SHORTLY after his arrival Sunday, US President Donald Trump took part as Cambodia and Thailand signed a formal expansion of the ceasefire that he helped broker this summer to end their border conflict.
“There was a lot of killing. And then we got it stopped, very quick-
ly,” Trump said before Cambodian Prime Minister Hun Manet and Thai Prime Minister Anutin Charnvirakul signed the agreement.
The terms of the agreement include Thailand releasing 18 Cambodian soldiers held prisoner and for both sides to begin removing heavy weapons from the border area.
There were few details in the agreement on how it would be carried out, though it said the leaders agreed to establish an observer team made up of Asean member states “with the objective of ensuring the full and effective implementation.”
Both Cambodian and Thai leaders called the agreement a “joint declaration” on the ceasefire, while Trump dubbed it the “Kuala Lumpur Peace Accords”
“This declaration, if fully implemented, will provide the building blocks for lasting peace,” Anutin said.
“But more importantly, it will begin the process of mending our ties.”
Hun Manet said that “Today marks a historic moment of profound significance for Cambodia and Thailand — a day where we affirm our shared conviction that
peace is always possible when nations have the courage and wisdom to pursue it together.”
Trump said he was signing economic agreements with both of those nations and was also due to sign a trade deal with Malaysia later in the day.
Chinese Premier Li Qiang, Canadian Prime Minister Mark Carney and Japan’s newly inaugurated Prime Minister Sanae Takaichi are among more than a dozen other leaders expected to be on hand.
Membership in Asean could help one of the world’s poorest countries grow EAST Timor’s accession to Asean gives the country, which has just 1.4 million people and a GDP of around $2 billion, better access to an eco -
nomic community of nations with some 680 million people and a $3.8 trillion economy.
Malaysian Prime Minister Anwar Ibrahim, whose country holds the bloc’s rotating chairmanship, said East Timor’s accession “completes the Asean family, the affirming of our shared destiny and deep sense of regional kinship.”
He said Asean’s goal was to “pursue growth that is both resilient and fair, and to safeguard the welfare of generations to come.”
The integration of the region’s youngest nation, and one of its poorest, demonstrates Asean’s “inclusivity and adaptability, especially at a time of geopolitical flux,” said Angeline Tan, an analyst with Malaysia’s Institute of Strategic & International Studies:
“As protectionism is on the rise, the expansion of Asean demonstrates its commitment to regionalism, openness and equal participation,” she said.
The last country to join Asean was Cambodia in 1999.
East Timor, wedged between Indonesia and Australia, was a Portuguese colony for over four centuries before declaring independence in 1975.
Indonesia invaded nine days later, beginning a brutal 24-year occupation that claimed tens of thousands of lives through conflict, famine and disease. A U.N.supervised referendum in 1999 paved the way for independence, which was formally restored in 2002.
Today it is led by two indepen-
They are trying to tackle high levels of unemployment, malnutrition and poverty. Some 42% of the country’s population live below the national poverty line. Nearly twothirds of its citizens are under 30 years old, making youth job creation a high priority.
Its major source of government revenues comes from the oil and gas industry, but with resources quickly becoming depleted it is looking to diversify.
Initially, the idea of bringing East Timor into Asean was met with skepticism by several other members, and even though that was overcome, Joanne Lin, co-coordinator of the ISEAS–Yusof Ishak Institute’s Asean Studies Centre in Singapore, said adding the nation is “not without challenges.”
“Timor-Leste’s administrative and institutional capacity still lags behind most Asean members, and full participation will require sustained technical and financial support from the secretariat and member states,” she said. “But its inclusion also brings new energy and perspectives — especially on issues like youth empowerment, democratic governance and small-state diplomacy.”
For East Timor, Asean membership gives it access to the bloc’s free trade deals, investment opportunities and a broader regional market. East Timor applied for membership in 2011 and was granted observer status in 2022.
“For us this new beginning brings immense opportunity in trade, investment, education and the digital economy—we are ready to learn, innovate and uphold good government,” Gusmao said.
“This is not the end of a journey, this is a beginning of an inspiring new chapter.”
Trump attends Thailand and Cambodia ceasefire ceremony during Malaysia
By Chris Megerian, David Rising & Eileen Ng Associated Press
KUALA LUMPUR, Malaysia—
Thailand and Cambodia signed an expanded ceasefire agreement on Sunday during a ceremony attended by US President Donald Trump, whose threats of economic pressure prodded the two nations to halt skirmishes along their disputed border earlier this year. Thailand will release Cambodian prisoners and Cambodia will begin withdrawing heavy artillery as part of the first phase of the deal. Regional observers will monitor the situation to ensure fighting doesn’t restart. “We did something that a lot of people said couldn’t be done,” Trump said. Cambodian Prime Minister Hun Manet called it a “historic day,”
and Thai Prime Minister Anutin Charnvirakul said the agreement creates “the building blocks for a lasting peace.”
The ceremony was Trump’s first event after arriving at the annual summit of the Association of Southeast Asian Nations, hosted in Kuala Lumpur. The trip, which will continue with visits to Japan and South Korea and a potential meeting with Chinese leader Xi Jinping, is an opportunity for Trump to burnish his reputation as an international dealmaker at a time when his tariffs have scrambled the international economy and he’s feuding with Democrats over a government shutdown back home.
Trump touched down in the Malaysian capital shortly before 0200 GMT, where he performed his trademark campaign trail dance with local performers and waved an American flag in one hand and a Malaysian flag in the other.
The president signed economic agreements with Cambodia, Thailand and Malaysia, some of them aimed at increasing trade involving critical minerals.
The US wants to rely less on China, which has limited exports of key components
in technology manufacturing.
“It’s very important that we cooperate as willing partners with each other to ensure that we can have smooth supply chains, secure supply chains, for the quality of life, for our people and security,” said US Trade Representative Jamieson Greer.
Trump reengages with a key re- gion of the world
THE president attended this summit only once during his first term, and Defense Secretary Pete Hegseth seemed unfamiliar with Asean during his confirmation hearing in January.
But this year’s event was a chance for Trump to reengage with a collec-
tion of nations that has a combined $3.8 trillion economy and 680 million people.
“The United States is with you 100%, and we intend to be a strong partner and friend for many generations to come,” Trump said. He described his counterparts as “spectacular leaders” and said, “everything you touch turns to gold.”
The summit also allowed Trump to play global peacemaker with Thailand and Cambodia, which have competing territorial claims that result in periodic violence along their border. Some of the worst modern fighting between the two countries took place over five days in July, killing dozens and displacing hundreds
of thousands of people, some of the worst modern fighting between the two countries.
Trump threatened, at the time, to withhold trade agreements unless the fighting stopped in a display of economic leverage credited with spurring negotiations. A shaky truce has persisted since then.
“The fact that Trump was holding the tariff card was actually very, very significant,” said Ou Virak, president of Phnom Penh’s Future Forum think tank. “That’s probably the main reason, if not the only reason, but definitely the main reason why the two sides agreed immediately to the ceasefire.”
Now, he said, “there’s a ceremony for Trump to be in front of cameras” so he can be “seen as the champion that brings an end to wars and conflicts,” giving him “more ammunition for his bid for Nobel Peace Prize.”
Trump has explicitly campaigned for the honor, continuously adding to a list of conflicts that he either helped resolve or claims to have ended.
Malaysian Prime Minister Anwar Ibrahim praised the agreement between Thailand and Cambodia during opening remarks at the summit, saying, “it reminds us that reconciliation is not concession, but an act of courage.” Thai foreign ministry spokesper-
visit
son Nikorndej Balankura described the deal on Saturday as a “joint declaration” that will show Thailand and Cambodia “are committed to renewing their relations.”
“It’s not an end in itself,” Nikorndej said. “Work has just begun.”
Tariffs are in focus on Trump’s trip
TRUMP is expected to sit down with Brazilian President Luiz Inácio Lula da Silva while he’s in Kuala Lumpur, but not Canadian Prime Minister Mark Carney. The US leader is angry with Canada because of a television ad protesting his tariffs, and on his way to the summit, announced on social media he would hike tariffs on Canada because of it. Another trade war is front and center on Trump’s trip—this one, with China. Trump told reporters traveling with him on Air Force One that he was optimistic his meeting with Xi, expected to take place in South Korea, could yield progress on a range of issues. Fentanyl trafficking and soybean sales are among Trump’s priorities.
“I think we have a really good chance of making a very comprehensive deal,” Trump said. “I want
dence heroes, Prime Minister Gusmao and President Jose RamosHorta, who won the Nobel Peace Prize in 1996.
FROM left, Laos’ Prime Minister Sonexay Siphandone, Singapore’s Prime Minister Lawrence Wong, Thailand’s Prime Minister Anutin Charnvirakul, Vietnam’s Prime Minister Pham Minh Chinh, East Timor’s Prime Minister Kay Rala Xanana Gusmao, Malaysia’s Prime Minister Anwar Ibrahim, Philippines’ President Ferdinand Marcos Jr., Brunei’s King Sultan Hassanal Bolkiah, Indonesian President Prabowo Subianto, Cambodian Prime Minister Hun Manet and Myanmar’s Permanent Secretary of the Ministry of Foreign Affairs U Hau Khan Sum pose for a photo during the signing ceremony of the Declaration on the Admission of East Timor into Asean during the 47th Asean summit, in Kuala Lumpur, Malaysia, Sunday, October 26, 2025. (AP PHOTO/VINCENT THIAN)
MALAYSIA’S Prime Minister Anwar Ibrahim, left, and US President Donald Trump, right, watch as Thailand’s Prime Minister Anutin Charnvirakul, second left, and Cambodia’s
David Rising, Eileen Ng & Chris Megerian Associated Press
The World
Russian missile, drone attacks kill 4 as Zelenskyy pleads for air defense
By Samya Kullab and Elise Morton The Associated Press
KYIV, Ukraine—Russian missile and drone attacks on Ukraine overnight into Saturday killed at least four people and wounded 20, officials said, and prompted fresh pleas from Ukraine’s president for Western air defense systems.
In the capital, Kyiv, two people were killed and 13 were wounded in a ballistic missile attack in the early hours of Saturday, Kyiv’s police said.
A fire broke out in a non-residential building in one location, while debris from intercepted missiles fell in an open area at another site, damaging windows in nearby buildings, Ukraine’s State Emergency Service wrote on the message app Telegram.
“Explosions in the capital. The city is under ballistic attack,” Mayor Vitali Klitschko wrote on Telegram during the onslaught.
Two killed in Dnipropetrovsk region
IN the Dnipropetrovsk region, two people were killed and seven wounded, acting regional Gov. Vladyslav Haivanenko said, adding that apartment buildings and pri-
vate homes were damaged in the strikes.
Ukraine’s air force said Russia launched nine missiles and 62 drones, of which four missiles and 50 drones were intercepted.
In Russia, the Defense Ministry said its air defenses shot down 121 Ukrainian drones over Russia overnight.
Ukrainian President Volodymyr Zelenskyy said Saturday that such attacks intensify Ukraine’s need for Patriot defense systems.
“It is precisely because of such attacks that we pay special attention to Patriot systems—to be able to protect our cities from this horror. It is critical that partners who possess relevant capability implement what we have discussed in recent days,” he wrote in English on X.
“America, Europe and the G7
countries can help ensure that such attacks no longer threaten lives,” he said.
Ukrainians adapt AS plumes of smoke from the attack in Kyiv rose in the background, Ukrainians went about their day shopping in a popular nearby farmer’s market unhindered, having become accustomed to frequent Russian air assaults.
“We didn’t know the attack was right here, but even when we figured it out, we still came. Despite the Russians’ strike, there are still a lot of people here who need to eat. I knew that people would come to
shop, “ said Halyna Stetsiura, 54. The fruit and vegetable vendor arrived very early in the morning to prepare her stall, while the attacks were still underway.
Serhi Lihus, 53, a beekeeper, said he was driving to the market when he heard the explosions. “It was still dark, approximately 6:30, everything was on fire,” he said. Still, he showed up to the market to sell his honey.
Svitlana Shyshlovska, 40, a customer, said despite the threat of attacks, “you still need to buy food to have something to eat and such markets are not an everyday occasion.”
Argentina’s economic divide deepens as Milei’s policies face midterm test
By Isabel Debre The Associated Press
Riachuelo River, luxury car dealerships report sales surging since libertarian President Javier Milei scrapped import restrictions. Streets in the Puerto Madero financial district bustle with bankers who praise Milei for ending a yearslong ban on selling dollars online. Fine restaurants serve sushi and steak to Argentine oil executives who gush about his efforts to draw foreign investment.
On the opposite side of the polluted Riachuelo waterway, Veronica Leguizamon, 34, has only few eggs, a carton of milk and a handful of bread rolls left in her pantry.
Clutching a Tupperware container, she braved heavy rain last Friday to carry home dinner for her four daughters from a soup kitchen in her neighborhood of Isla Maciel—a new daily routine since Milei slashed subsidies for public services and unwound price controls on staple foods.
“Before, we could choose what to cook,” she said. “Now we depend on others to know if we’ll eat or not.”
The contrasting fortunes of these Buenos Aires neighborhoods just over a kilometer apart illustrate the tensions polarizing the Argentine electorate in Sunday’s nationwide congressional midterms.
As voters go to the polls, their vastly different perceptions of the economy stand to determine whether Milei succeeds—and whether the Trump administration presses on with a financial rescue plan for its cash-strapped ideological ally.
“Within my little circle, everyone’s happy with how things are going,” said Fernanda Díaz, 42, who runs a yacht rental company in Puerto Madero. “When I step outside it, I see people worried about making it to the end of the month.”
Milei’s opposition spooks markets
COMMENTING on the midterm elections, US President Donald Trump threatened to rescind a $20 billion aid package for Argentina if Milei suffers a defeat at the hands of a “socialist or communist,” prompting a sell-off in Argentine markets. Trump was apparently referring to Argen-
tina’s loosely populist, broad-based ideological movement known as Peronism that helped deliver the economic shambles that Milei inherited in late 2023.
Reckless public spending under a succession of Peronist governments—including that of former President Cristina Fernández de Kirchner, now serving house arrest for corruption — brought Argentina infamy for its inflationary spirals and sovereign debt defaults.
“We needed a major change,” said Díaz, who, before launching her yacht business, lost her job as a top executive when Chilean retail group Falabella shut down its Argentine operations over high inflation, import restrictions and a wildly oscillating exchange rate under the previous Peronist government. “I voted for Milei’s government and was really enthusiastic at first.”
Markets shudder at the thought of a Peronist return. When the Peronist coalition beat Milei’s libertarian party by a landslide in last month’s Buenos Aires provincial elections, investors panicked that the president’s free-market overhaul was losing support and rushed to pull capital out of the country.
In an extremely rare move, the US Treasury came to the rescue — selling dollars to help meet soaring demand for greenbacks, signing a $20 billion credit line and promising another $20 billion in aid from private banks, rather
than US taxpayers.
Assets jumped on each of the Trump administration’s announcements. Having dodged a currency crisis, Mileli and his supporters were, briefly, ebullient.
“I’m proud of the US support. It helps us grow stronger,” said Luciano Naredo, 28, a salesman of high-end cars in Puerto Madero. “I think Argentina is finally taking its rightful place in the world.”
Fed up with the chainsaw ALTHOUGH Isla Maciel has long been a Peronist stronghold, 42% of the wider Avellaneda municipality voted for Milei as president in 2023, betting on the wild-haired political outsider to stabilize the economy and end triple-digit inflation.
Wielding a diesel-fume-spewing chain saw at rallies, Milei cut tens of thousands of government jobs, slashed state spending and burned through foreign exchange reserves to shore up the chronically depreciating peso.
Inflation dropped—in fulfillment of Milei’s flagship campaign promise.
But almost two years into his economic overhaul, purchasing power has dropped, too. With inflation still hovering over 30% annually, residents of Isla Maciel have watched the value of their wages, pensions and welfare payments shrivel.
“You can’t live on 290,000 pesos a month with today’s inflation,” Epifanía Contreras, 64, said as she packed her plastic bowl with rice and peas at the Foundation of Isla Maciel soup kitchen, referring to her $200 monthly pension. “The situation is getting worse and worse. It’s not fair.”
Volunteers serving sopa paraguaya, a custardy cornbread, to a stream of regulars on Friday said demand has more than doubled in the past year. Those who once picked up occasional meals to save some cash now turn up hungry.
“People are coming out of real need,” said Maria Gomez, a volunteer cook. “It’s total chaos.”
A third fewer residents of the Avellaneda municipality supported Milei’s libertarian party in last month’s provincial election than in 2023, expressing nostalgia for the redistributive policies of the opposition Peronist party despite its more recent reputation for financial ruin.
Milei has vowed in campaign speeches to press on with his harsh austerity program. But his chain saw prop, once a rally staple, hasn’t been seen in months.
Argentines face familiar uncertainty
MOST polls predict a tight race between Milei’s La Libertad Avanza (Liberty Advances) party and the Peronist coalition. Half of Argentina’s lower house, or 127 seats, and a third of the Senate, or 24 seats, are up for grabs in Sunday’s elections.
Currently controlling less than 15% of Congress, the government last managed to pass a law in March. La Libertad Avanza hopes to win enough seats to defend austerity measures, uphold presidential vetoes and impose labor and tax reforms.
The stakes are high. A defeat for Milei could pile more pressure on the peso and force a painful devaluation of the currency’s controlled exchange rate, raising inflation and undermining the president’s main achievement.
Weary Argentines are, again, bracing for impact.
“Each new government comes in, criticizes the last one, promises to do things differently and ends up being the same or worse,” said Matías Paredes, 50, a real estate broker whose foreign clientele vanished with Milei’s strong exchange rate.
“This country moves in cycles.”
Push for air defenses
ZELENSKYY is hoping Ukraine can purchase 25 Patriots from the US to fortify its air defenses, particularly in cities.
Zelenskyy on Friday urged the United States to expand its sanctions on Russian oil from two companies to the whole sector, and appealed for long-range missiles to hit back at Russia.
Zelenskyy was in London for talks with two dozen European leaders who have pledged military help to shield his country from future Russian aggression if a ceasefire stops the more than three-year war.
The meeting hosted by British Prime Minister Keir Starmer aimed to step up pressure on Russian President Vladimir Putin, adding momentum to recent measures that have included a new round of sanctions from the United States and European countries on Russia’s vital oil and gas export earnings.
The talks also addressed ways of helping protect Ukraine’s power grid from Russia’s almost daily drone and missile attacks as winter approaches, enhancing Ukrainian air defenses, and supplying Kyiv with longer-range missiles that can strike deep inside Russia. Zelenskyy has urged the US to send Tomahawk missiles, an idea US President Donald Trump has considered.
Kirill Dmitriev, Putin’s envoy for investment and economic coopera-
tion, said Friday he believes Russia, the US and Ukraine were “quite close to a diplomatic solution” to end the three-year war.
Speaking to CNN after arriving in Washington for talks with US officials, Dmitriev said a planned summit in Budapest between Trump and Putin had not been canceled but would likely occur later. Trump said Tuesday his plan for a swift meeting with Putin was on hold because he didn’t want it to be a “waste of time.”
Speaking aboard Air Force One on his way to Malaysia on Saturday, the US president said he would only reschedule the meeting if he was certain of progress.
“I’m going to have to know that we’re going to make a deal. I’m not going to be wasting my time. I’ve always had a great relationship with Vladimir Putin but this has been very disappointing,” Trump said. Russian Foreign Minister Sergey Lavrov made clear in public comments Tuesday that Russia is opposed to an immediate ceasefire.
A White House official confirmed Friday that Dmitriev, who announced his visit on X, will meet with US envoy Steve Witkoff. The official spoke on condition of anonymity because the person was not authorized to publicly discuss the private meeting. (Morton reported from London. Associated Press journalists Andrea Rosa in Kyiv and Mark Schiefelbein aboard Air Force One contributed to this report.)
LONDON—Left-wing independent Catherine Connolly, who secured the backing of Ireland’s left-leaning parties including Sinn Féin, has won the country’s presidential election in a landslide victory against her center-right rival. Official results showed strong voter support for Connolly as president, a largely ceremonial role in Ireland. She won 63% of first-preference votes once spoiled votes were excluded, compared to 29% of her rival Heather Humphreys, of the centerright party Fine Gael.
Connolly, 68, said Saturday evening at Dublin Castle that she would champion diversity and be a voice for peace and one that “builds on our policy of neutrality.”
“I would be an inclusive president for all of you, and I regard it as an absolute honor,” she said.
Humphreys conceded she had lost earlier Saturday before vote counting had finished.
Connolly, a former barrister who has served as a lawmaker since 2016, has been outspoken in criticizing Israel over the war in Gaza. She has also warned against the European Union’s growing “militarization” following Russia’s full-scale invasion of Ukraine.
Ireland has a tradition of military neutrality, but her critics have said she risks alienating the country’s allies.
Connolly will succeed Michael D. Higgins, who has been president since 2011, having served the maximum two seven-year terms. She will be Ireland’s 10th president and the third woman to hold the post.
The politician has garnered the backing of a range of left-leaning parties, including Sinn Féin, the Labour Party and the Social Democrats.
Prime Minister Micheál Martin on Saturday congratulated Connolly on her “very comprehensive election victory.” He said he was looking forward to working with the new president as “Ireland continues to play a significant role on the global stage, and as we look forward to hosting the EU presidency in the second half of 2026.”
Irish presidents represent the country on the world stage, host visiting heads of state and play an important constitutional role, but they do not have executive powers such as shaping laws or policies.
Nonetheless, parties on the left celebrated the results as a significant shift in Irish politics.
“We have seen a real appetite for the change that Catherine represents,” said Labour Party leader Ivana Bacik. “We believe this really does mean a new sort of politics is possible, that we can now
realize the ambition that I talked about a year ago: The real prospect of a center-left-led government after the next general election.” Connolly and Humphreys were the only contenders after Jim Gavin, the candidate for Martin’s Fianna Fail party, quit the race three weeks before the election over a long-ago financial dispute. Martin, who heads Ireland’s government, had personally backed Gavin as a presidential candidate. Though Gavin had stopped campaigning, his name
SMOKE billows from a warehouse that was set ablaze in the wake of a Russian attack, Saturday, October 25, 2025, in Kyiv, Ukraine. AP PHOTO/JULIA DEMAREE NIKHINSON
PRESIDENT Javier Milei holds a megaphone while leading a campaign rally ahead of legislative national elections, in Tres de Febrero, Buenos Aires province, Argentina, Friday, Oct. 17, 2025. AP PHOTO/RODRIGO ABD
The World
BusinessMirror
Trump escalates trade tensions with Canada, imposes additional 10% tariff after Reagan ad
By María Paula Mijares Torres
PRESIDENTDonald Trump
announced an additional 10% in tariffs on Canada in response to an advertisement by the province of Ontario that is critical of the levies, escalating tensions in one of the world’s biggest bilateral trade relationships.
Trump’s Truth Social post follows days of public clashes over the ad, which invoked former President Ronald Reagan’s stance as a free trader and triggered the current US president’s ire, prompting him to suspend trade negotiations with Canada.
“Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now,” Trump said Saturday. The US president didn’t specify the scope of his new measure. While Canada faces a US base tariff of 35%, the rate doesn’t apply to most Canadian goods because
of an exemption for products and shipments made within the rules of the US-Mexico-Canada Agreement. That means millions of barrels of oil per day still flow from Canada to the US tariff-free, for example.
Steel and aluminum products don’t have that waiver—they’re subject to 50% US tariffs on foreign metals—and Canadian-made cars and trucks are only partially eligible for exemption from Trump’s 25% tariffs on most foreign autos.
“Tariffs at any level remain a tax on America first, then North American competitiveness as a whole,” Candace Laing, head of the Canadian Chamber of Commerce in Ot-
tawa, said in a statement. “We hope this threat of escalation can be resolved through diplomatic channels and further negotiation.”
Prime Minister Mark Carney has been engaged in talks with the US to lower the levies and Ontario Premier Doug Ford has pledged to pause the Ontario-funded ads in the US on Monday after speaking to Carney in hopes that the talks could resume.
After Trump first halted the negotiations, Carney said Ottawa was prepared to resume discussions “when the Americans are ready,” and said that the two sides had been making progress on steel, aluminum and energy.
In contrast, White House economic adviser Kevin Hassett told Fox News on Friday that negotiations with Canada have “not been going well” and Trump is “very frustrated.”
The White House didn’t provide comment Saturday on the tariff increase. Dominic LeBlanc, Canada’s minister responsible for US trade, said in a statement that his nation will remain focused on “achieving results that benefit workers and families” in both the US and Canada, and that progress is best achieved through direct engagement.
A spokesperson for Ford said: “The premier’s statement from Friday stands.”
Trump said the ads appear to be timed to influence a US Supreme Court case challenging the legality of many of his global tariffs, threatening a pillar of his reelection campaign and subsequent economic agenda. The court is scheduled to hear oral arguments in the case on November 5.
Trump has said the court would create a disaster if it overturns his country-based tariffs, including forcing the US government to refund companies billions of dollars in duties.
Television advertising is a lon-
German firms hand over secrets that China could use for leverage
By Jenny Leonard
AS German firms wrestle with new Chinese controls on rare earths, they are handing Beijing sensitive supply chain information it could potentially use to squeeze manufacturers or shut down production lines in Europe’s biggest economy.
Yet even as German companies divulge commercial secrets to China, their own government is flying blind, according to people familiar with the matter. While Chinese officials demand detailed information before they approve exports of the rare earth elements used in a vast array of modern products, Berlin has no such leverage over its own companies, and no immediate strategy to tackle the problem, the people said, asking not to be named discussing confidential conversations.
The German economy ministry “views the continuous expansion of Chinese export controls with great concern,” spokeswoman Luisa-Maria Spoo said in a statement. The government, she added, is “using all available channels” to address the matter.
Berlin’s brewing crisis is yet another ramification of the spiraling trade war between the US and China. Washington has for years weaponized China’s dependence on American products, and Beijing is now following suit—destabilizing major economies around the world that, like Germany, tethered their economies to Chinese supplies.
German Foreign Minister Johann Wadephul had planned to raise the issue with Chinese officials in Beijing next week. But his trip was abruptly postponed on Friday, raising questions about when Chancellor Friedrich Merz will actually make a long-promised visit. For increasingly desperate German firms, the ramifications of inaction are daunting— especially as crucial semiconductor suppliers like Dutch-based but China-owned Nexperia get snarled in the trade drama.
“The information gathered could lock in dominance for Chinese companies and allow them to extract better conditions for their presence and investments in Europe,” said Rebecca Arcesati, lead analyst at MERICS, a China-focused think tank. “From Beijing’s perspective, having a say on how these industrial supply chains are built is an enormous advantage.”
The problem UNDER new rules China introduced in April and dramatically tightened in October, foreign
companies must submit granular, confidential data to obtain a six-month import license for rare earth minerals.
The forms are extraordinarily detailed, according to people who have seen them, requesting product photos showing mineral placement, manufacturing diagrams and customer details. In some cases, the application requests annual production data for the last three years and projected data for the next three years.
The information could help Beijing map out Germany’s vulnerabilities – showing which firms have only one Chinese supplier, for instance, or which have low supply stockpiles.
Companies are typically loath to reveal such private information. But German firms don’t have much choice —95% of their rare earth minerals come from China, far surpassing any other EU country, according to MERICS. China’s Ministry of Commerce has argued the rules help “better defend world peace,” citing the minerals’ use in “the military field.”
Hoping to speed license approvals, the German embassy in Beijing gave China a priority list. This “white list” did help bigger firms get sign offs, but it left behind smaller companies without lobbying operations.
It also inadvertently gave China more visibility into Berlin’s economic chokepoints.
Ultimately, there are fears Beijing will not just disrupt Germany’s economy, but the entire European supply chain—a troubling prospect for the continent’s massive rearmament plans as Russia saber rattles.
“With all the information they are in the process of collecting, the Chinese authorities are likely also getting a picture of defense industrial bases in NATO countries and how intertwined they are with each other,” said MERICS’ Arcesati. Already, licensing delays are starving European companies of essential inputs, causing
production stoppages. The European Chamber of Commerce in China said a September survey of 22 companies showed only 19 of 141 export applications had been approved. That was expected to cause 46 production shutdowns that month, and 10 more by December.
Thus far in Germany, the shutdowns have affected mostly small- and medium-sized firms, flying under Berlin’s radar, according to people familiar with the matter. Conversely, bigger firms, including Germany’s automakers and other manufacturing heavyweights, are getting their licenses fast enough to keep production running. But they have all but given up on emergency stockpiling, people familiar with the matter said.
In fact, the people added, Beijing has signaled that anyone ordering more than their production needs will be suspected of smuggling the goods for military purposes or to the US.
Berlin reacts
BERLIN is awakening to the problem. But officials and business leaders seem to be speaking past each other.
The German economy ministry sent out questionnaires to companies to better understand what China was collecting and to obtain similar information. Those went unanswered, said officials familiar with the matter.
t then summoned business leaders to the ministry to discuss the issue. That also yielded little information, according to people familiar with the meeting.
Yet imposing binding commitments to hand over the data would be politically fraught. German companies already say they’re buried under bureaucracy—and Merz’s coalition came to power promising to slash paperwork.
Still, business groups say they’re being ignored. When Germany’s major industry lobby, BDI, sent Economy Minister Katherina Reiche an urgent letter over the summer asking for a meeting on the matter, it never heard back, people familiar with the interactions said.
“The economy ministry is in close and regular contact with the companies and associations affected, including the BDI, particularly with regard to their business in China,” Spoo said.
That’s left the two sides stuck. Companies are hesitant to diversify their sources without government compensation. Politicians, on the other hand, stress that the private sector has a responsibility to secure its own supply chains.
Merz insists the issue tops his agenda.
“Dependencies make us susceptible to blackmail,”
he said in September. “For our security and our competitiveness, it must therefore be a priority to diversify our raw-material and trade supply chains.”
Talking trade
CHINA likely sees its maximalist approach as a way to extract concessions, said people familiar with Beijing’s thinking. Beijing has already proposed rolling back some limits if Germany also loosens high-tech export restrictions, they added.
One Berlin priority will be convincing Beijing to issue licenses for longer than six months as it seeks to weaken the overall restrictions.
China is also discussing the controls with the European Union as the bloc’s executive arm readies retaliatory options.
“The goal remains de-risking in line with the China strategy and the diversification of our supply chains and trade relations,” said Spoo, the economy ministry spokeswoman. “The aim is to achieve a coordinated European approach.”
Beijing has indicated it prefers bilateral negotiations with Merz over an EU dialogue, said people familiar with the deliberations—adding extra pressure on Merz’s team. The chancellor’s advisers say he won’t continue Berlin’s lax China policies, but his leverage is limited given supply chain swaps can add costs.
“It would be better to find a kind of an agreement,” Bundesbank President Joachim Nagel told Bloomberg Television’s Francine Lacqua at the Berlin Global Dialogue conference on Friday. But if retaliation is a last resort, he added, “I would say, ‘OK, we have to be strong and have to take a bold decision.’”
Some business executives privately worry Berlin is too preoccupied with domestic turmoil and other topics to make supply chain progress before jobs are lost. At the same time, the executives admit it’s difficult to give up the benefits they reap from China.
A German official conceded that businesses need reliability—but expressed concerns about companies accepting Beijing’s terms. Still, it’s hard to criticize China as long as Germany doesn’t have credible alternatives, added the official, granted anonymity to speak candidly.
But none of the recent developments should surprise anyone in Berlin.
“This is something China’s leaders have been saying for a very long time,” said MERICS’ Arcesati. “It is very important for European politicians to take the Chinese government’s stated strategic objectives at face value.”
With assistance from Arne Delfs and Kamil Kowalcze / Bloomberg
ger-term strategy of the Ontario government in its battle against US tariffs—the Reagan ad isn’t its first such campaign. Prior to this blowup, a spokesperson for the Ontario premier said the government planned to run the Reagan spot for months on a variety of networks at an estimated cost of C$75 million ($53.6 million).
Deep links
THE clash has reignited uncertainty between two partners that exchanged $900 billion in goods and services last year and have closely interwoven supply chains for major industries.
Ontario, with a population of 16 million just across the border, has been at the trade war’s center because of its steel and automotive industries—two sectors Trump has hit with his import taxes. About three-quarters of Canada’s goods exports went to the US last year.
The US president said Thursday he’d end all talks with Canada because of the ad, which used excerpts from a 1987 Reagan speech defending free trade and slamming tariffs as an outdated notion that stifles innovation, drives up prices and hurts US workers.
When Reagan delivered the radio address, he had just placed “select” tariffs on Japanese electronics for what he considered unfair trade practices. At the same time, he used the speech to urge Congress against passing a protectionist trade bill aimed at Japan. The Reagan quotations were edited together from different parts of his speech, prompting the Ronald Reagan Presidential Foundation and Institute to complain that the ad misrepresented the full address. The foundation said it’s reviewing its legal options.
Trump made his latest announcement while en route to a three-country trip to Asia that includes stops at the Association of Southeast Asian Nations summit in Malaysia and the Asia-Pacific Economic Cooperation summit in South Korea. Carney is on an extended trip to Asia, where he’ll also attend those summits and is working on boosting trade ties with other nations. Asked if he had any plans to meet Carney during the two summits, the US president said as he began his trip that “I don’t have any intention of it, no.”
With assistance from Lauren Dezenski, Derek Decloet and Wendy Benjaminson / Bloomberg
Trump, Lula aim for swift trade deal as relations thaw at Malaysia summit
By Daniel Carvalho & Augusta Saraiva
PRESIDENT Donald Trump said he believed he would strike a trade deal with Brazil as he met with counterpart Luiz Inacio Lula da Silva on Sunday.
Trump said the pair “get along very well” and that his officials, including Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, would work to negotiate an agreement and predicted a “conclusion pretty quickly.”
“We should be able to make some pretty good deals for both countries,” Trump said as the leaders met in Malaysia, which is hosting a regional summit.
Lula said he thought that he could announce “good news.”
“There’s no reason for having any kind of conflict” between Brazil and the US, Lula said, adding that he had prepared a written agenda in English to discuss with the US president. He later sought to cut off questions from the press, saying time for the meeting was limited.
T he meeting was the first official sitdown between Trump and Lula, as the Brazilian president is known. It was also the first extended interaction between them since relations sharply deteriorated following Trump’s July announcement to slap punitive tariffs on imports from Latin America’s largest economy.
T he meeting is part of a push by the Brazilian government to resolve the monthslong trade spat after Trump unsuccessfully sought to stop the Supreme Court trial of his right-wing ally Jair Bolsonaro. At the time, Trump ordered 50% tariffs on key Brazilian exports like coffee and meat, and US officials later applied other sanctions and visa restrictions on judges, officials and their families.
Trump told reporters on Sunday he felt “very badly” about Bolsonaro’s fate but told a reporters it was “none of your business” when asked if the issue would be
part of the talks. Conversations between Brazil and the US resumed last month after Trump and Lula briefly crossed paths at the United Nations General Assembly in New York, paving the way for a resumption of high-level talks after a period of frozen relations.
Talking points IN addition to tariffs and sanctions, Brazil’s main focus has been on clearing the air on trade practices that have been the target of an investigation by the Office of the US Trade Representative, including the regulation of US-based social media companies operating in the country and ethanol industry policies.
While Brazil’s approach has been to wait for the Trump administration to outline its demands before putting its own proposals on the table, Brasilia has been working to prepare background materials on an array of themes that could be relevant to the talks, including social media regulation, data centers and critical minerals.
Brazil has the second-largest reserve of rare earths in the world after China, potentially giving the South American country a unique card to play. Lula has indicated a willingness to discuss opportunities to boost the development of the key minerals used in electric vehicles, advanced weapons systems and medical devices with various parties, including Trump.
Venezuela is also among the topics that could be raised between the two leaders. The US has struck down multiple boats it says were carrying drugs from Venezuela in recent months, prompting speculation that it may be preparing to attack the country on land. Though Brazil has avoided any direct involvement, Lula had previously told Trump in a phone call that a military conflict in South America would be devastating for the region. Trump said he would be willing to discuss Venezuela if Lula wanted to but that he didn’t anticipate doing so. Bloomberg
ONTARIO Premier Doug Ford. BLOOMBERG PHOTO
EOs aim to shield farmers from agri volatility
By Samuel P. Medenilla @sam_medenilla & Butch Fernandez @butchfBM
PRESIDENT Ferdinand Marcos issued two new executive orders (EO) that seek to ensure that farmers will get a “fair price” for their unmilled rice and a ready market for their other produce.
Marcos signed last Saturday EO 100 which imposed a floor price for rice to protect farmers from unscrupulous traders during “volatile market prices, particularly during the peak of harvest seasons when farmgate prices often drop due to oversupply, weather-related impacts, or unfair trading practices.”
He also issued EO 101 which directed all national and local government agencies to
fully implement Republic Act (RA) 11321, which establishes the Farmers and Fisherfolk Enterprise Development Program.
“In view of the rising production costs coupled with climate-induced production risk and the widening profit margin gap between farmgate price and retail prices, the government recognizes the urgent need to guarantee a fair and just return to farmers by setting a floor price that covers production costs and provides reasonable income while ensuring the affordability and stability of rice supply for consumers,” EO 100 read.
The EO was issued after the average farmgate price of the Philippines’s food staple fell to P8 per kilogram, which is below the production cost.
EO 100 ordered the creation of a Steering Committee chaired by the Department of
Agriculture while the Department of the Interior and Local Government will serve as vice chair. Its other members are the Departments of Trade and Industry, Social Welfare and Development, Agrarian Reform, and the National Food Authority.
The committee was tasked to set the floor price for paddy rice that will be procured by local government units and national government agencies from accredited farmers and fisherfolks cooperatives and enterprises (FFCEs) under RA 11321, or the “Sagip Saka Act
The floor price will be based on cost of production, prevailing market prices, reasonable margins for farmers, welfare of farmers and consumers, and “other relevant factors.”
The committee will conduct regular
monitoring to ensure that the floor price is being implemented and those which violate the policy will face administrative sanctions.
National government and instrumentalities will be allowed to purchased unmilled rice and store it in public facilities.
Meanwhile, EO 101 directed the DA to establish Sagip Saka desks in its regional and field offices to register farmers and fisherfolks.
RA 11321 created the Farmers and Fisherfolk Enterprise Development (FFED) Council—created under the Sagip Saka Act to ensure the EO101’s implementation.
‘Big win’
HOUSE Speaker Faustino Dy III and Senator Francis Pangilinan said the two EOs will
DA wants to set floor price for palay at ₧17 per kilo
Tallow farmers to “live with dignity.”
Dy said the twin directives show that the administration understands the difficulties faced by those who work in the country’s farms and coastal communities.
“Once again, President Marcos has proven his genuine concern for our farmers.
Through EOs 100 and 101, he is protecting their livelihood, reinforcing food security, and delivering long-overdue justice to those who have long toiled in our fields and seas,” Dy said.
“For years, farmers have been forced to sell their harvest for less than what it’s worth. This policy gives them the fair value they deserve.”
Pangilinan said the two EOs represent a “big win” for farmers and the agricultural sector as a whole.
“This is such a big victory for our farmers and the farming sector. We thank the President and all those who helped us push for these two EOs. These EOs demonstrate that when the government listens to farmers and takes decisive action, we can ensure that those who feed the nation are able to live with dignity,” he said.
“When we advocated for the Sagip Saka Act, this is the kind of support we envisioned for our farmers and fisherfolk. It is high time they reap the rewards of their hard work.”
The Sagip Saka Act, which was principally authored and sponsored by Pangilinan, allows national government agencies and local government units to purchase food directly from farmers and fisherfolk without the need for public bidding. With reports from Jovee Marie N. Dela Cruz
PCA keen on Japanese technology to fight
coco pests
By Ada Pelonia @adapelonia
HE Department of Agriculture (DA)
may propose a floor price of P17 per kilo for unmilled rice that the government will buy from local planters.
Agriculture Secretary Francisco Tiu Laurel Jr. made the pronouncement after President Ferdinand Marcos Jr. issued Executive Order (EO) 100 which mandated the setting of a floor price for unhusked rice or palay.
The DA chief told the B usiness M irror that while the EO is for government palay procurement, it is expected to prompt private traders and millers to follow suit.
“The target is P17 per kilo minimum. It’s for the government only, but it’s a signal to all that this is what should be followed or serve as a guide for private traders and millers,” he said.
“Many local government units are already buying palay, like in Nueva Ecija and Isabela, among others. Many facilities have already been provided to cooperatives and LGUs [local government units].”
Under EO 100, the DA, in coordination with a soon-to-be-formed steering committee, would determine and regularly adjust the palay floor price per region.
Pricing would consider production costs, market trends, and fair profit margins, while also factoring in emergencies, import influxes, and global rice price fluctuations.
The order allows national and local governments to temporarily use public facilities, such as covered courts or
gymnasiums, as storage sites for purchased palay, ensuring post-harvest protection and reduced spoilage.
The government cautioned, however, that agencies buying palay below the set floor price may face administrative sanctions.
The DA noted that the floor price setup was largely patterned after the price-setting scheme for tobacco, which ensures that farmers remain interested in cultivating the crop.
Meanwhile, Marcos also issued EO 101, which directed the full implementation of the Sagip Saka Act that promotes enterprise development among farmers and fisherfolk
cooperatives and associations.
The order strengthens the Sagip Saka Act’s implementation by directing all government agencies, state universities, and local governments to procure food supplies directly from accredited farmer and fisherfolk cooperatives and enterprises (FFCEs).
The DA noted that these purchases will be exempt from standard bidding procedures under the newly enacted Government Procurement Act, which allows for faster and more direct transactions.
The directive also requires the creation of Sagip Saka Desks in DA regional offices to assist producers in registration, enterprise
development, and market linkage.
Agencies are encouraged to align existing programs, such as the Kadiwa ng Pangulo and the DSWD’s Food Stamp Program, with Sagip Saka’s objectives.
The DA chief said these EOs would bolster the livelihoods of farmers and fisherfolk by providing price stability, assured markets, and a clearer path toward long-term income growth.
“These EOs should bridge that gap in product pricing and marketing that has kept our food producers, especially those at the margins, from fully enjoying the fruits of their hard work.”
THE Philippine Coconut Authority (PCA) is exploring science-based technologies to strengthen sustainable pest management in the coconut industry.
To achieve this, PCA recently met with representatives of the Mitsui Group to discuss initiatives that could enhance coconut productivity and boost the country’s defenses against persistent pest threats.
Presenting an overview of the country’s coconut industry, PCA Deputy Administrator Roel Rosales highlighted its crucial socioeconomic role and outlined the agency’s key coconut productivity programs, including vital replanting, hybridization, intercropping initiatives, and current pest management protocols.
The PCA said this set the stage for a targeted discussion on industry pain points, specifically improving productivity and effective pest management.
For its part, the Mitsui Group presented several hydro-innovation technologies designed for minimal environmental impact, including a trunk implant system for controlled, targeted release of active ingredients to manage defoliating pests, and a hydrogel coating that encapsulates inputs for sustained protection on leaves.
The Japanese entity also showed the potential for such systems to reduce application frequency, lower labor costs, and minimize chemical runoff.
The presentations were followed by a technical exchange to assess the potential adaptability of such technologies for managing coconut-specific concerns, particularly CSI infestations and other emerging pest risks.
Discussions covered compatibility with local coconut varieties, cost-effectiveness for smallholder farmers, biosecurity safeguards, regulatory compliance, and alignment with PCA’s integrated pest management strategies.
Following this, the PCA initiated a formal scientific review process wherein a review committee would be formed. This will be led by the agency’s research and development branch.
The team will include experts from the Department of Science and TechnologyPCAARRD, the University of the Philippines Los Baños (UPLB), and PCA research centers, primarily Davao Research Center.
“Should the review progress positively, controlled trials will be conducted in designated PCA demo farms.”
The agency noted that such an initiative forms part of its proactive strategy to continuously scout global innovations that can contribute to a more resilient, high-yielding, and farmer-centered coconut industry.
Further consultations and evaluations are expected as part of the agency’s commitment to science-driven decision-making and responsible adoption of new technologies, it added.
PCA Administrator Dexter Buted said any potential collaboration should undergo rigorous scientific validation.
“We are open to exploring solutions that are sustainable, proven, and beneficial to our coconut farmers. However, all technologies must undergo proper review and field-based validation under Philippine conditions.” Ada Pelonia
Water project revitalizes farming in Bacolod communities
By John Eiron R. Francisco
BACOLOD, Negros Occidental—For years, farmers in the eastern part of this city struggled to keep their farmlands productive, as the lack of a steady water supply left once-fertile fields parched each dry season and families with little to live on. However, the fields that once thirsted are now seeing steady irrigation through a cross-sector water project.
Judy Jinson Sr., president of the Adiangawan Small Farmers Association (ASFA) and of the Bacolod City Integrated Small Farmers Federation Inc., told BusinessMirror that water has long been the most essential yet scarce resource in their area, making it difficult for farmers to sustain their livelihoods.
“Sometimes, we take on any kind of work just so we can buy rice and the things our children need for school,” Jinson said in the local dialect.
He added that during the dry months, most crops wither before harvest due to the lack of irrigation.
City Department of Agriculture (DA) administration officer Mary Jo Cordero confirmed to BusinessMirror that the persistent water shortage remains a major challenge for Bacolod’s farming communities.
Nearly 100,000 hectares remain planted with sugarcane in the provincial capital, while only about 350 hectares are used for rice and 80 to 100 hectares for high-value crops such as vegetables. Although efforts
to diversify have begun, the lack of irrigation facilities still limits the city’s capacity to further expand agricultural production, Cordero noted.
“For water, we rely on other line agencies,” Cordero said. “Unfortunately, we still don’t have an established irrigation system in Bacolod.”
The National Irrigation Administration (NIA) reported that the Philippines has about 10.3 million hectares of agricultural land, with roughly 3.1 million hectares considered irrigable, primarily for rice and corn.
In Negros Occidental, the Bago River Irrigation System (BRIS), located south of Bacolod, originally served 12,700 hectares of farmland across Bago, La Carlota, Bacolod, Murcia, Pulupandan, San Enrique, and Valladolid. The project later expanded BRIS coverage to 13,277 hectares, benefiting approximately 5,301 farmers.
However, recent reports indicate that BRIS currently serves irrigators’ associations in six local government units, comprising the Federation of Irrigators Association (FIACN). These include the cities of Bago and La Carlota, as well as the municipalities of Murcia, Valladolid, San Enrique, and Pulupandan, covering a total program area of 10,920 hectares.
In 2024, BRIS faced low water levels due to drought conditions linked to El Niño. As of October 25, the dam’s water level was recorded at 3.50 meters above reservoir bottom (MARB), slightly above its normal operating level of 3 MARB, following recent rainfall.
“The BRIS is able to provide water only to the rice fields located in Brgy. Sum-ag,” Cordero said.
She said the system uses rotational water distribution, but supplies can become limited during the dry season, particularly in southernmost areas of Bacolod, such as Sum-ag, which lies at the tail end of the BRIS.
During these periods, Cordero said, farmers rely on pumps to bring water to their fields.
“During the El Niño, the LGU provided hoses to farmers and barangays to augment their water system.”
Cordero said Coca-Cola Foundation and the Alternative Indigenous Development Foundation, Inc. (AIDFI) implemented a gravity-flow water system in Purok 16, Barangay Alangilan.
“We are very thankful for the CocaCola project. It’s encouraging to see the private sector showing genuine interest in agriculture.”
Established in 2020, the project features a 100,000-liter reservoir that has since revitalized farming in the eastern part of the city and improved irrigation access.
AIDFI Operations Manager Cherie Gomez said the system, originally designed for vegetable farms, now irrigates around 17 to 19 hectares of farmland.
“The vegetables are not irrigated daily, but this setup has been a big help. Farmers now have a steady supply of water for their high-value crops through distribution lines connected directly to their farms,” Gomez
told B usiness M irror
As of March 2025, the system produces an average of 50,867 liters of water per day, benefitting the ASFA’s 68 members, up from 28 when the project began.
Gomez added that the water is now used not only for crop cultivation but also for domestic needs and livestock production, helping strengthen the community’s overall agricultural resilience.
‘Bittersweet harvest’
DANILO Medina, a farmer with nearly 25 years of experience, told BusinessMirror that before the intervention, he cultivated only sugarcane, earning about P50,000 a year, an amount he said was often just enough to cover debts and basic needs.
With the availability of a reliable water source, he has since shifted to vegetable farming, which allows for more frequent harvests and a steadier income.
“Before, it was all sugarcane because there was no water. Now, vegetable farming has become more profitable and sustainable,” he emphasized.
Medina, meanwhile, said his ampalaya (bitter gourd), one of the main vegetables and local produce he grows, is sold in the Libertad Market and to retail outlets such as Robinsons and SM City.
He said he harvests twice a week, selling the ampalaya at P80 per kilo wholesale in Libertad, with an average yield of 150 kilos. This amounts to around P12,000 gross income per harvest, and after deducting P2,000 in expenses, he nets about P10,000,
earning roughly P80,000 a month from ampalaya alone.
“Now, with water even during the summer, the harvest is much better. The crops really bear a lot of fruits.”
He recalled that his children initially opposed building the water tank on their property, believing it would take up planting space. But one of his sons persuaded him, saying, “Tay, just allow it, having water up here on the hill is a miracle.”
Today, Medina said he is grateful he agreed, as the project not only propped up their income but also encouraged three of his five children to take part in farming. One of them has since graduated and now raises poultry and grows his own crops.
“With steady income from farming, we don’t have to worry about daily expenses anymore.”
Medina said he has also been able to invest in a vehicle, including a tricycle and a motorcycle.
‘Market leaders’
ACCORDING to Jinson, who has been with the association for nine years, farmers used to sell their produce only within their local area, relying on middlemen because their harvests were too small to sell directly. But with improved irrigation and support, they now handle marketing themselves and have established partnerships with major retail outlets.
“Our farmer members already have schedules to sell their products there,” Jinson said.
“Actually, the mission of the Coca-Cola Foundation is to empower communities.
One of our goals is to promote community development and empowerment through our water programs,” said Monina Pacheco, Grand Portfolio Manager for Water Stewardship at the Coca-Cola Foundation. Pacheco added that “the foundation has specific criteria for selecting communities, but top most is the water access that they’re deprived of.”
Other factors, she said, include the community’s “potential to be empowered,” their ability to manage the water project, and their capacity to sustain it over time. Asked how the five-year-old project is maintained, Jinson said the association holds monthly meetings to monitor the water supply.
“We check if the water supply is being properly maintained and identify any problems or issues,” he said, noting that the association conducts a thorough review every last Sunday of the month to ensure everything is in order.
Gomez, meanwhile, reminded the community to take good care of the system, noting that everyone now understands how vital water is to daily life.
“We always emphasize the importance of maintaining, sustaining, and protecting it, not just for themselves but for the next generation who will also depend on this water,” she said, adding that the farmers have vowed not to let their children go through the same hardships they once faced when water was scarce.
THIS BusinessMirror file photo shows farmers selling unmilled rice to the National Food Authority.
Anti-corruption push: Technology’s promise and the hurdles ahead editorial
THE recent chorus from the 51st Philippine Business Conference and Expo is both heartening and ripe for healthy skepticism. Vice President Sara Duterte and Philippine Chamber of Commerce and Industry President Enunina Mangio struck a powerful chord: Technology, particularly digital transformation, must be the nation’s primary weapon against the entrenched scourge of corruption. This vision is compelling, necessary, and long overdue. But pronouncements from podiums must translate into concrete, sustained action. (Read the BusinessMirror story: “Government, business execs bet on tech as weapon v. corruption,” October 21, 2025).
The Vice President rightly framed technology as a “strategic tool” far beyond physical infrastructure. Her emphasis on using it to impose “checks and balances,” create transparent “paper trails,” eliminate arbitrary decisions, and prevent “unconstitutional budget insertions” cuts to the core of systemic graft. The promise is clear: digital systems can close the “backdoor transactions” that drain public coffers and erode trust. Making all government transactions visible and immutable online would dramatically shrink the shadows where corruption thrives.
PCCI President Mangio sharpened the focus, championing blockchain technology as a game-changer. Her argument is persuasive: blockchain’s inherent permanence and resistance to tampering offer “unprecedented” opportunities for bringing financial inclusion, reducing transaction costs, and crucially, monitoring government projects and the national budget in real-time. The Department of Information and Communications Technology’s existing exploration of blockchain, cited by Mangio, adds weight to this potential.
The vision articulated by both leaders is undeniably the right one. A Philippines where digital platforms ensure every peso is tracked, every contract is visible, and every decision leaves a permanent, auditable record, is a Philippines poised for genuine progress and restored public faith.
However, the gap between aspiration and reality remains dauntingly wide. Declaring technology the solution is the easy part. The monumental task lies in execution, overcoming entrenched resistance, and addressing critical challenges.
The digital divide: Effective digital governance requires universal access and digital literacy. Millions of Filipinos remain offline or lack the skills to engage. A digital anticorruption fortress is useless if vast segments of the population are locked outside.
Political will: Technology exposes. It removes discretion. It dismantles patronage networks built on opaque processes. Powerful interests benefiting from the status quo will resist fiercely. Will the current and future administrations possess the unwavering political will Mangio implicitly called for to implement systems that genuinely constrain their own power and that of their allies?
Systemic overhaul, not just technology: Plugging in blockchain or e-procurement platforms onto fundamentally flawed or corrupt processes is futile. Technology must be accompanied by rigorous process redesign, robust legal frameworks (like the EGovernance Act awaiting decisive action), and a cultural shift within the bureaucracy towards transparency and accountability. Cybersecurity and data sovereignty: Mangio rightly flagged these as critical. Centralizing sensitive government data creates an irresistible target for hackers. Robust, continuously evolving cybersecurity measures and clear policies on data ownership and privacy are non-negotiable prerequisites.
The human cost: As Mangio noted, digital transformation disrupts jobs. “Comprehensive strategies for workforce adaptation and social protection” are vital to ensure progress doesn’t come at the cost of widespread dislocation and inequality.
The call for a digital revolution against corruption is a powerful and welcome signal. It acknowledges the scale of the problem and points towards a modern solution. The people have heard grand promises before. What they demand is tangible, rapid progress: the swift passage of enabling laws, significant investment in digital infrastructure and literacy, the fearless implementation of transparent platforms even when they inconvenience the powerful, and robust safeguards for security and privacy. Technology can be a potent weapon against corruption, but only if wielded with unwavering integrity, inclusivity, and a relentless commitment to systemic change. The “Future is Now,” as the conference theme declared. Let us see if our leaders possess the courage to truly unleash technology’s power. The nation watches, hoping this digital dawn heralds genuine transparency, not just another false promise fading in the light of day.
Opinion BusinessMirror
Turn kindness into a viral trend
DRISING SUN
IGITAL wellness is part and parcel of our everyday lives. In 2025, with the Philippines ranked the social media capital of the world, Filipinos of all ages spend an average of four hours every day on platforms like TikTok and Instagram. But behind all those filtered selfies, viral videos, shared memes, and witty comment threads, there’s a deeper story—one marked by anxiety, struggles with body image, and a worrying increase in cyberbullying.
Let’s ground this conversation with the reality: Recent local surveys show that nearly one in 10 Filipino adults and youth now report moderate to severe depressive symptoms, and digital behaviors are a big part of the problem, regardless of age. The Department of Health says a majority of the 3.6 million Filipinos with mental health challenges are teens and young adults. Many struggle not just with major depressive disorder but also with anxiety conditions—a cocktail often stirred by the non-stop feedback loop of “likes,” shares, and comments, which touches everyone from students to parents and working professionals. Among those aged 18 to 24, more
than half say they wrestle with negative body image, body shaming, and appearance-based cyberbullying. Society’s opinions and comments over every selfie and post leave lasting scars. What’s striking is that 39 percent of Filipino youth now seek out digital solutions—online counseling, mental health hotlines, or community chat groups—when things get tough, and more Filipino adults are following suit, with telemedicine and online emotional support seeing increased adoption nationwide. So what does practical action look like for Filipinos—their friends, families, and the rest of us? For many, it starts with curating a kinder, safer
Among those aged 18 to 24, more than half say they wrestle with negative body image, body shaming, and appearance-based cyberbullying. Society’s opinions and comments over every selfie and post leave lasting scars. What’s striking is that 39 percent of Filipino youth now seek out digital solutions—online counseling, mental health hotlines, or community chat groups—when things get tough, and more Filipino adults are following suit, with telemedicine and online emotional support seeing increased adoption nationwide.
social feed. Following creators who promote genuine positivity and selfacceptance (#MentalHealthPH, #NormalizeTherapy), learning to mute, block, or report trolls, and taking deliberate breaks from the screen all help. Sharing only what feels comfortable and drawing digital boundaries—no explanations needed—empower users to control their stories. For families and friends, those offline moments matter: check in, listen non-judgmentally, celebrate small creative wins, and especially avoid
turning every worry into a lecture or sermon. Schools, workplaces, and barangays can also pitch in by organizing digital wellness talks, inviting advocates to share real stories, and normalizing conversations around anxiety, cyberbullying, and resilience. If you or someone you know needs support, help is just a call or tap away. The National Center for Mental Health Crisis Hotline (1553, toll-free) or Hopeline Philippines (0917-558-4673 for Globe, 0966351-4518 for Smart) connect you to trained counselors—no judgment, just a listening ear. Organizations like MindNation offer free mental wellness sessions through their website, Facebook Messenger, and even TikTok. Hashtags like #MentalHealthPH lead to peer support groups and information updates. There’s a brighter side, too. Filipino influencers and everyday netizens are starting to use TikTok and Instagram as platforms for advocacy, not just entertainment. Campaigns like #NormalizeTherapy and #YouMatterPH, often going viral, put Filipino faces and experiences front and center, making it easier than ever to have a conversation about mental health without shame or stigma. It’s not just about tips or tricks—these are stories about real recovery, real vulnerability, and real hope.
Rediscovering the spirit of Christmas: A night of celebration and reflection at the Manila Peninsula
Antonio L. Cabangon Chua Founder
Lorenzo M. Lomibao Jr., Gerard S.
Lyn B. Resurreccion, Dennis D. Estopace
Angel R. Calso, Dionisio L. Pelayo
Ruben M. Cruz Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan BusinessMirror is published daily by the Philippine Business Daily Mirror
Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.
EE you at 4 p.m., Manila Pen,” buzzed the message on my cell phone. It was from Ambassador Reynaldo Catapang, the venerable dean of the diplomatic corps. When I arrived, the hotel lobby was already alive—children laughing, adults mingling, a festive hum rising beneath the glittering chandeliers. The holiday spirit was palpable, swirling with the aroma of brewed coffee and nostalgia.
Ambassador Catapang, legal luminary Ramon Posadas, and I found ourselves swept into the warmth of the Manila Peninsula Christmas Tree Lighting Ceremony, that annual ritual which signals, in this part of the world, the longest Christmas season on earth.
As we savored the merienda buffet—cochinillo, cold cuts, tapenade, and tuna nigiri—the conversation turned sentimental. We recalled the Christmases of our youth, when joy was handmade: when bottle caps became tambourines, tin cans our improvised drums, and we caroled house to house for coins and sweets. Between mouthfuls and laughter,
memories tumbled out—moonlit games of patintero and tumbang preso, the trumpo spinning madly in the dust, and the neighborhood chorus of “Ang Pasko ay Sumapit.” Those were nights when imagination outshone technology, and joy required no battery charge.
“Today’s kids,” we mused, “know neither piko nor tumbang preso.” We sighed, half in jest, half in mourning for lost playgrounds and vanished laughter. Yet as the Peninsula Strings began to play Broadway tunes, we were children once more—three boys grown old, rediscovering wonder over shared food and story.
For the Peninsula, that spirit found embodiment in the children of Make-A-Wish Philippines, who joined in lighting the tree. Their eyes glowed with the kind of wonder that reminds us—the magic of Christmas shines brightest when shared.
“Christmas here is different,” Ramon observed, watching as a drone hovered gracefully across the lobby, capturing the spectacle below. For him, it was a first at the Pen; for the Ambassador, a cherished tradition. I, meanwhile, found myself searching for the famed tree. It wasn’t immediately visible—just ornaments scattered like breadcrumbs of joy across the vast hall. We chuckled as Ramon confessed he, too, couldn’t spot it. Conversation drifted to his forthcoming memoir, a chronicle of a life steeped in law and rebellion. He recalled how, as a student during the First Quarter Storm, he once defended himself in court even before passing the Bar—much like the young Marcos who argued his own case before the Supreme Court.
In a quieter interlude before the ceremony, Ramon narrated how, just weeks earlier in New York, he was
nearly turned away from the Philippine Consulate after hours—until he invoked Ambassador Catapang’s name. The mention was enough; doors opened, warmth replaced cold. Such is the power of earned respect, the invisible currency of friendship. At last, as the clock struck six, the lights dimmed—and then, burst! —the 45-foot Christmas tree came alive in a shower of gold and silver brilliance near the grand entrance. The crowd gasped; Ramon and I exchanged childlike grins. Then, the Battig Chamber Singers of St. Scholastica’s College began to sing, their harmonies rising like prayer. For a moment, everything—hustle, cynicism, worry—paused.
“On this special evening,” the Manila Peninsula proclaimed, “the city’s holiday season begins as our 45-foot Christmas Tree comes to life in a dazzling display of lights.” Indeed, the air itself seemed to shimmer with hope, promise, and reconciliation. And in that glow, I remembered a moment from history—the Christmas Truce of 1914, when soldiers from opposing trenches in World War I, weary from months of mud and gunfire, laid down their arms on Christmas Eve. They emerged
“Gagni,”
Atty. Jose Ferdinand M. Rojas II
One recipe, one kitchen: Coordinating flood control probes
IInformation warfare: The young and the chosen
Joel L. Tan-Torres
DEBIT CREDIT
Part six
CONTINUE my discussions on Lifestyle Check Data Sources that the investigators and prosecutors of the perpetrators of the flood control mess can refer to in their pursuit of justice and retribution.
The Philippine Stock Exchange (PSE) plays an important oversight and intelligence role in tracking stock ownership and trading activities of individuals implicated in the flood control corruption scandal, especially where ill-gotten wealth is funneled through listed companies or the securities market. By providing trading histories and beneficial ownership records, the PSE enables authorities to trace and recover financial assets acquired using diverted flood control funds.
A new dimension of lifestyle assessment involves the ownership of aircraft. The Civil Aviation Authority of the Philippines (CAAP) maintains a list of all registered private planes and helicopters. A recent review of CAAP records revealed that for just two of the dummy corporations owned by a certain politician and a major contractor, Misibis Aviation & Development Corporation and HiTone Construction & Development Corporation, aircraft valued at over P4.7 billion were registered in their names, a glaring mismatch to their reported tax profiles.
Equally telling are bank deposits and transactions, which the AntiMoney Laundering Council (AMLC) monitors. Through Suspicious Transaction Reports provided by banks, the AMLC can track irregular financial activities—large deposits around project bidding periods, foreign wire transfers following contract releases, or accounts with no apparent business justification.
The Philippine Amusement and Gaming Corporation monitors gambling transactions, a common conduit for laundering unexplained wealth or splurging stolen funds in a lavish lifestyle binge. In a privilege speech delivered by Senator Panfilo Lacson in September 2025, he disclosed that cash-to-chips conversions and vice versa between 2023 and 2025 of three DPWH engineers came up to P3.08 billion. Senator Lacson disclosed the names of these three as 1st District Engineer Henry Alcantara, Assistant Engineers Brice Hernandez, Jaypee Mendoza, Arjay Domasig, and Edrick San Diego, whom he dubbed as BGC (Bulacan Group of Contractors) Boys.
In today’s interconnected world, corruption does not hide—it often brags. Social networking platforms like Facebook, Instagram, and TikTok have become inadvertent evidence rooms, filled with images of lavish parties, designer bags, imported cars, and extravagant vacations. The rise of the so-called “neo-babies” —the children or relatives of public officials and contractors who flaunt opulent lifestyles online—has made social media a rich source of lifestyle
Gagni. . .
Continued from A10 cautiously from their dugouts, not with rifles, but with carols. They shared rations, exchanged souvenirs, and even played football in the noman’s land that had divided them. For one night, humanity eclipsed hostility; peace, however fleeting, triumphed over fear. If men who faced death could find fellowship under frozen stars, surely, we too can pause our daily battles and rediscover compassion.
investigative leads.
Such evidence can be linked to immigration travel records, which the Bureau of Immigration (BI) keeps in meticulous digital logs. Frequent foreign travel—especially to luxury destinations or financial secrecy jurisdictions—often signals wealth far beyond lawful means. Businessclass tickets, long hotel stays, and purchases made abroad can now be traced through Customs declarations and credit card payment data, providing concrete evidence of lifestyle beyond income.
The sprawling flood control mess has evolved into the most extensive corruption investigation of the decade. With billions in public works funds misused or diverted, the pursuit of justice now hinges not only on traditional prosecution but also on a new generation of data-driven lifestyle checks. Gone are the days when mere confessions or anonymous tips led the charge. Today, investigators follow digital footprints, property registries, bank ledgers, and even social media posts to map the trail of wealth.
This integrated and full-spectrum approach, supported by forensic auditing and Artificial intelligence-driven analytics and opensource intelligence (OSINT) tools to capture, archive, and authenticate these data sources for evidentiary use, will be the key to conducting and concluding investigations expeditiously and effectively.
The flood control investigations now stand at a decisive moment. With the convergence of technology, data integration, and public vigilance, corruption can finally be pursued not just as a moral offense but as a traceable economic crime. Each digital footprint, each undeclared asset, and each ostentatious post is a thread in a larger web of accountability and governance. If the government agencies remain coordinated and fearless, this lifestyle investigation can end not merely with exposés—but with convictions, asset recoveries, and a long-overdue restoration of public trust in the nation’s systems of justice and governance.
To be continued
Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held various positions, including Dean of the University of the Philippines School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co., and SyCipGorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who ranked No. 1 in the CPA Board Examination of May 1979. He has his own tax and consultancy practice in JL2T Consulting and can be contacted at joeltantorres@yahoo.com.
For the Peninsula, that spirit found embodiment in the children of Make-A-Wish Philippines, who joined in lighting the tree. Their eyes glowed with the kind of wonder that reminds us—the magic of Christmas shines brightest when shared. As the carols swelled and the lights danced across the lobby, I felt it again—the miracle of renewal, the joy that never really leaves us. Christmas, after all, is not a date on the calendar but a melody in the soul—a reminder that even in our fractured world, light still finds a way through the cracks.
Siegfred Bueno Mison, Esq.
THE PATRIOT
Last of two parts
KUDOS to newly minted spokesperson Polo Martinez of the Department of Justice (DOJ). While others were surprised at his appointment since Atty. Polo is more of a rookie in the Department, most on social media are abuzz due to his drop-dead gorgeous looks. But let’s not be fooled by appearances for Atty. Polo is no stranger when it comes to communication.
Aside from being part of an international moot court team in the Ateneo Law School during his student days, I remember Polo as someone who did not get easily rattled during our recitation drills. Since he diligently studies the law and can think quick on his feet when a curveball is thrown at him, the Department’s audacious selection of a young lawyer as its mouthpiece deserves respect. Speaking for oneself is not as difficult as speaking for another. Thus, the job of a spokesperson can be as complicated that requires a balance of many attributes. He must be humble yet assertive in word and in deed; confident but not arrogant in demeanor; eloquent but never undignified in speech.
I recall the spokespersons I worked with in the Bureau of Immigration—Tonette Mangrobang, Maan Pedro, Elaine Tan, and Dana Sandoval (incumbent), all of whom were products of the state university. All are witty and intelligent. Though relatively young in public service, they were empowered communicators who can think and speak rationally.
At the national level, among the presidential spokespersons in recent history, I find Ernesto Abella as capable, competent, articulate, and most
of all, gentle in his role of disseminating information on behalf of his principal, Rodrigo Duterte. Abella’s stint was, however, short-lived perhaps due to his inherent differences in communication styles with his principal. After all, spokespersons are required if not expected to set aside his personal biases or preferences. They must speak on behalf of another regardless. Since information warfare can be very tricky, spokespersons must be carefully selected as they can be caught in the middle of controversial statements. Take the case of AFP spokesperson Francel Padilla who was recently criticized for her statements about the possible withdrawal or removal of pension benefits of retired military officers who will participate in protest rallies against corruption. I am not sure whether such gray propaganda deliberately came from the AFP itself or was a spin done by a few retired generals trying to induce greater military participation in the current crisis of institutional corruption. Confidently charismatic, Padilla merely responded to a question from media and said “they are categorized as civilians and they are receiving pensions, so we’ll see how this will fall into play.” She understands the big
picture and spoke on behalf of the AFP, which incidentally has ministerial duties in distributing pension benefits. Yet, others took advantage of her neutral response. In biblical history, the apostle Paul was perhaps a propagandist to his oppressors but an evangelist to believers and followers. He can be described as one of the very first spokesperson, if not the most effective spokesperson of Jesus Christ. All believers can be engaged in information warfare these days since there are some false prophets then and now. If there were Pharisees and Sadducees then, we have prosperity gospel preachers now. Even during the times of the Old Testament, “The Lord says: “These people come near to me with their mouth and honor me with their lips, but their hearts are far from me. Their worship of me is based on merely human rules they have been taught.” (Isaiah 29:13). Of course, the foundational truth can only come from the Holy Book. Woe to those who spread the Good News and spin the Word to increase membership or get more contributions. Praise to those who stick to the truth which is anchored on the belief that the Bible is the inspired word of God.
Not to sound like a priest or a pastor, but as a professor of law, I should remind everyone that our government has recognized the Bible by way of a legislative process through RA 11163 enacted way back in 2018, more known as the “National Bible Day Act.” Before such law, various presidential proclamations have designated certain days to encourage Filipinos to read and promote the Bible since President Cory Aquino. After several proclamations designating days, weeks, or even a month (Duterte) for reading the Bible, RA 11163 declared “that the government shall aid and encourage development of the moral character and spiritual foundation of the Filipino people” and recognized “the value of
How leaders build companies that last: The DNA of companies that thrive
By Henry Go
IN today’s fast-changing business world—shaped by new technology, global competition, and shifting consumer values—success is no longer measured only by profit or size. It now depends on how leaders handle change, act with integrity, and inspire people to work toward a shared goal. In the Philippines, companies such as San Miguel Corp., Ayala Corp., SM Group, Jollibee Foods Corp., and the ALC Group of Companies are examples of the many that demonstrate how integrity, adaptability, and foresight continue to guide Philippine business. These stories show that true strength comes not only from resources or market size but from strong values and clear purpose.
Integrity, adaptability, and strategic foresight
AT the heart of every lasting organization are three key qualities: integrity, adaptability, and strategic foresight.
Integrity forms the foundation of trust in Filipino business culture. Leaders who maintain high moral standards earn credibility, and employees trust the organization’s direction. Integrity builds long-term relationships with workers, clients, partners, and communities. Success achieved honorably is sustainable. Adaptability keeps a company relevant by responding to challenges with creativity and courage. As markets evolve and consumer needs shift, adaptable leaders turn uncertainty into opportunity. When innovation aligns with adaptability, it becomes a powerful driver of growth. Leaders who anticipate change, act decisively, and execute plans effectively strengthen their company’s competitive position and resilience. Strategic foresight ties these qualities together. It allows leaders to envision beyond short-term gains, guiding organizations toward long-term development. Organizations led by visionaries and strategic leaders shape both the present and the future.
San Miguel Corporation: Reinventing tradition
FOUNDED in 1890 as a small brewery in Manila, San Miguel Corp. has grown into the Philippines’ most
diversified conglomerate, with business interests in food and beverages, packaging, fuel and oil, banking, power, and infrastructure. SMC’s strength lies in responding to changing national needs. Its leaders expand the company’s reach through bold yet responsible diversification. Even after more than a century, SMC balances commercial success with nation building, showing how adaptability and foresight transform tradition into enduring relevance.
Ayala Corporation: Leading across generations ESTABLISHED in 1834, Ayala Corporation is one of the Philippines’ oldest and most respected business groups. From early ventures in real estate and trading, it has grown into a leader in banking, telecommunications, water, infrastructure, and renewable energy. Ayala stands out for its leadership philosophy, which balances tradition with innovation. Each generation embraces responsibility to the nation while driving progress. Through disciplined foresight and consistent execution, Ayala demonstrates that responsible leadership can sustain growth across centuries.
SM Group: From shoes to shopping malls
THE SM Group began with a small shoe store opened by Henry Sy Sr. in 1958. Today, it is one of the country’s largest conglomerates, with interests in retail, property development—in-
the Holy Bible as the core of Christian faith.”
While the law of the land (RA 11163) legislated that the last Monday of January every year as “National Bible Day,” the law of the Lord commands every believer to spread the Good News at every opportunity. As spokespersons of our Almighty God, believers are expected to spread the biblical truths of Jesus’ sacrifice of suffering and death, God’s love for a sinful mankind, salvation through authentic belief in the Almighty God, sanctification, and final judgment, among other fundamental truths.
The law of the land (RA 11163) mandated every Filipino to know more about the Bible; the law of the Lord (2 Timothy 4:2) mandated every believer to preach the word anytime! So, for those who are engaged in information warfare, believer or otherwise, especially the youthful ones, choose white over black propaganda. Not even gray. Choose to speak the truth and not white lies.
For spokespersons like Atty. Polo Martinez of the DOJ, Francel Padilla of the AFP, and Dana Sandoval of the BI, may they continue to be articulate and rational in their roles. May they be gifted with the discernment of knowing what is fake and untrue. For media practitioners, myself included, may we continue to check the sources of our truth. Be careful with each word used. Words matter.
Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations such as the Philippine Army, Integrated Bar of the Philippines, Malcolm Law Offices, a US based software development company called Infogix Inc., University of the East, Bureau of Immigration, Philippine Airlines and SM Prime Holdings. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. He has delivered leadership and management talks in government agencies. Siegfred is a former soldier and a lawyer by profession, a teacher by passion, and a writer with a mission.
cluding malls, offices, condominiums, and hotels—banking, and investments. As of October 2025, SM Prime operates 89 malls in the Philippines and 9 in China. Henry Sy emphasized discipline, responsiveness, and understanding people. He personally observed customer behavior to improve service, shaping a culture that values customers, empowers employees, and prioritizes efficient execution. SM’s story shows how corporate morale, integrity, and foresight can turn small opportunities into lasting success.
Jollibee Foods Corporation: Adapting with purpose
JOLLIBEE began in 1975 as an ice cream parlor in Quezon City. When founder Tony Tan Caktiong noticed customers preferred hot meals, he shifted the business, creating Jollibee in 1978. Today, Jollibee operates over 1,600 stores in 17 countries and aims to be among the world’s top five restaurant companies. With plans to open 600 new stores globally, particularly in the United States and China, Jollibee shows how timely innovation and clear values drive global relevance. In 2024, it was recognized as the second fastest-growing restaurant brand worldwide, with a 51 percent increase in brand value, highlighting the impact of strategic vision and strong execution.
ALC Group of Companies: Leadership with compassion and integrity
FOUNDED by the late Ambassador Antonio L. Cabangon Chua in the 1960s and now led by his son, D. Edgard A. Cabangon, the ALC Group operates across media, banking, real estate, transport, hospitality, and memorial services. ALC stands out for moral leadership, blending integrity with compassion. Its leaders believe business should uplift lives and serve communities. Following the founder’s principle that success carries a responsibility to give back, the ALC Group demonstrates that profitability and social responsibility can
coexist, forming the foundation of a sustainable and enduring enterprise.
A shared mindset for responsible growth DESPITE differences in industry and size, San Miguel, Ayala, SM, Jollibee, and ALC share the same leadership DNA: integrity, adaptability, vision, and purpose. Each began with limited resources, faced challenges, and strengthened through disciplined execution and strong values. Their stories show that corporate strength is built not only on strategy but on principled leadership. Filipino corporate management at its best is people-oriented and humane. It prioritizes teamwork over competition, accountability over self-interest, and success that benefits both business and community. Collaboration, honesty, and respect boost morale, spark innovation, and unite employees around a common purpose. Organizations that foster such a culture can respond to challenges with confidence, creativity, and resilience.
Building the future THE next generation of Filipino leaders must embody responsiveness, innovation, integrity, and responsibility. Strong governance and effective execution will define organizations that thrive in a rapidly evolving global business environment. Responsive leaders act decisively while remaining principled. By promoting teamwork, rewarding innovation, and honoring commitments, they build high morale and shared pride. The stories of San Miguel, Ayala, SM, Jollibee, and ALC show that leadership is less about power or intelligence and more about foresight, discipline, and moral strength. These qualities allow companies to evolve, innovate, and serve. Progressive leadership delivers not only profit but genuine progress. It builds trusted institutions that inspire, serve, and endure. Ultimately, leadership rooted in integrity, adaptability, and vision is the key to sustainable success.
Monday, October 27, 2025
PHL EYES NEW DEALS ON TRADE, ENERGY, AGRI AND TOURISM
By Samuel P. Medenilla
@sam_medenilla
UALA LUMPUR—President
KFerdinand Marcos Jr. is now seeking new partnerships with unconventional partners like Canada, and traditional allies, including Thailand, to boost the country’s energy, trade, tourism, and agriculture.
The chief executive held bilateral talks with Canadian Prime Minister Mark Joseph Carney and Thailand Prime Minister Anutin Charnvirakul at the sidelines of the ongoing 47th Association of Southeast Asian Nations (ASEAN) Summit in Malaysia on Sunday.
During the Summit, he also held bilateral meetings with Cambodia, Japan and the European Union.
Palace Press Officer Claire Castro said Marcos has discussed possible cooperation with Canada, which is currently seeking new international trade partners after United States President Donald Trump recently terminated trade talks with the North American neighbor.
“They will also boost trade, investment and energy cooperation,” she said in Filipino in a press briefing in Malaysia.
During the dialogue, Marcos highlighted the strong people-to-people exchanges between the Philippines and Canada. He also thanked Carney for Ottawa’s support for shared values on compliance with international laws such as the United Nations’ Convention on the Law of the Sea.
The President also talked with the Thai prime minister on possible new partnerships.
“The two countries wanted to expand discussions on tourism, trade and invest-
ment including engagement with the private sector. They also had discussions on agricultural exchanges,” Castro said. Thailand is one of the country’s top sources of imported rice aside from Vietnam.
Marcos also expressed his condolences for the death of Thailand’s Queen Sirikit.
In his meeting with Cambodia, Marcos was updated on the developments in the peace deal between the Southeast Asian nation and its neighboring country of Thailand, which was presided by United States President Donald Trump.
Both countries have launched attacks on one another over border disputes.
The President also met with Japanese Prime Minister Takaichi Sanae, whom he personally congratulated for being the first woman to hold that post in Japan.
The two state leaders discussed the deepening defense cooperation among the Philippines, Japan, and the US to preserve “regional peace, stability, and development.”
In his meeting with European Council head António Costa, they talked about enhanced trade and the strengthening of the international rules-based order.
Marcos has vowed to foster more cooperation with more countries once the country chairs the 2026 ASEAN Summit.
“President Marcos Jr. emphasized that the Philippines’ hosting of the ASEAN summit next year is focused on practical, inclusive and measurable initiatives,” Castro said.
Thailand, Cambodia, Japan and the EU have expressed their support for the country’s hosting of the important international forum.
BusinessMirror
EU, PHL near end of FTA talks; labor counsels caution
By Andrea E. San Juan @andreasanjuan
THEPhilippines and the 27-member bloc European Union (EU) moved a step closer toward forging a free trade agreement after they recently concluded the fourth round of negotiations.
“We just finished our 4th round of PH EU FTA negotiations, and I can say it was a productive one. We made remarkable progress in the text based negotiations,” Trade Undersecretary Allan B. Gepty told the BusinessMirror in a Viber message on Sunday.
Gepty also told this newspaper that both parties hope to iron out pending issues concerning the trade agreement before the year ends.
“We hope to stabilize the text within the year. We also started market access negotiations for goods, services, and investments including discussions on modalities for government procurement,” the Philippines’ chief negotiator said.
During the recently concluded negotiations, Gepty said these chapters
were covered: Mutual Administrative Assistance on Customs Matters; Trade and Sustainable Development; Trade in Goods; Services and Investment; Digital Trade; Intellectual Property; Competition; Rules of Origin; Government Procurement; Tehnical Barriers to Trade; Sanitary and Phytosanitary Measures; State Owned Enterprises; Trade Remedies; Energy and Raw Materials; Dispute Settlement; Exceptions; Initial Provisions; and Institutional Provisions.
The Philippines’ chief negotiator for the free trade deal with the EU pointed out that this FTA is expected to introduce chapters which were not present in the trade deals which the Philippines already entered into.
Gepty told this newspaper these are
the new chapters: Anti-Fraud Clause, Mutual Administrative Assistance, Sustainable Food Systems, Government Procurement (rules and market access), and “comprehensive” chapters on Good Regulatory Process and Trade and Sustainable Development.
On Sunday, a labor group expressed “grave concern” over the government’s “rush” to sign an FTA with the EU, saying this deal would “cost us far more than it claims to deliver.”
Unions for Trade Justice pointed out in a statement that this trade deal seems to be “intruding into vital areas such as government procurement, competition, investment policy, digital trade, and even minerals.”
The labor group also noted that these provisions would allow EU investors to “compete with our local industries unhampered by government regulation.”
Meanwhile, the labor group also said it is “alarmed” by the digital trade provisions, saying these are “crafted to protect Big Tech, not our people.”
“Data is the raw material of the digital economy, yet this FTA could hand control of it to foreign corporations and prevent us from regulating them.
Even the USA has realized in its own trade talks in Indo Pacific Economic Framework [IPEF],” the labor group said in its statement.
As such, the labor group stressed that rushing this trade deal is not about development, “it’s about giving away our economic sovereignty.”
“If the deal threatens our ability to chart our own economic path, to protect workers, and to build industries that serve our people—then we must stop and rethink,” added the Unions for Trade Justice.
At a recent forum, European Chamber of Commerce of the Philippines (ECCP) President Paolo Duarte underscored the importance of signing the FTA with the Philippines as the 27-member bloc aims to grow European investments in the Philippines.
“When it comes to FDI investments, Europe is not top five. It’s our goal to bring Europe to the top five,” Duarte said during the EuropeanPhilippines Business Dialogue. The fourth round of negotiations for the FTA between Philippines and EU was held in Cebu in the past week. Trade between the Philippines and the EU amounted to $15.54 billion in 2024, data from the Board of Investments (BOI) showed. Of these, $8.07 billion are Philippine exports to EU while $7.46 billion are imports from the EU. (See: https://businessmirror.com. ph/2025/10/17/top-fdi-sourcesof-phl-must-include-eu/)
‘Use science to boost coffee yield’
By Ada Pelonia @adapelonia
THE government should bank on science to prop up local coffee yield amid price swings in the international market, according to the Philippine Coffee Board Inc. (PCBI).
With this, PCBI Chairperson Chit Juan urged the government to establish a Philippine Coffee Research Institute that would help farmers test soil quality and provide varieties suitable for their specific soil types.
“In other towns famous for coffee, farmers have access to an institute where they can have their intercrops and soil analyzed to help them scientifically. We lack science,” Juan told reporters on the sidelines of the 1st Philippine Coffee Sustain -
ability Congress held last week.
“Other countries are already studying what kind of coffee a farmer should plant if the environment warms up by another 5 degrees. Will this robusta variety still thrive in this soil? So, we need the institute for plant varieties and soil quality.”
Juan said establishing the institute would cost a modest P40 to P50 million, since the land would already be owned by the Bureau of Plant Industry (BPI).
She pins her hopes on the funding being included in the Department of Agriculture’s (DA) budget for 2026, which should be coursed through the BPI.
“The BPI’s facilities already exist. It just needs to be expanded and staffed to have more personnel so that someone can really focus on the research,” Juan said.
If the DA’s budget for 2026 allocates funding for the research institute, she said it would be operational by next year.
With volatile coffee quotations in the world market, Juan noted that the domestic coffee sector should capitalize on producing high-quality beans.
“We do have sporadic exports. So, our farmers get to experience high prices right now,” she said. “But to take advantage of [volatile prices abroad] is to give the best of our coffees. Highquality beans should be the standard.”
Data from the World Bank showed that the average price of the arabica
Editor: Jennifer A. Ng
B1 Monday, October 27, 2025
PNOC-EC needs ₧11.1B for ’26
By Lenie Lectura @llectura
THE petroleum and coal arm of the Philippine National Oil Co. (PNOC) is seeking a budget of P11.1 billion mainly for next year’s planned exploration and production (E&P) activities, including native hydrogen, as part of the country’s efforts to develop indigenous clean energy sources.
The proposed 2026 budget of PNOC-EC presented during a public hearing of the Senate Committee on Finance last week is 7 percent lower than this year. Of which, P10.183 billion will be allocated for E&P, P194 million for capital expenditure, and P725.48 million for operating expenses.
ment-related work,” said Sugay.
PNOC-EC is engaged in the exploration, development, and production of oil, gas, and coal resources. It operates without national government subsidy and relies mainly on internal generated funds for its activities. As of end of September 2025, its net income stood at almost P1 billion.
It currently holds interests in six active petroleum service contracts, namely SC-57 Calamian, SC-59 West Balabac, SC-79 Araceli, SC-38 Malampaya, SC-58 West Calamian, and SC-75 Northwest Palawan in joint venture with private companies.
kilometers of 3D seismic data acquired last year. For SC-59, the company undertook preparatory technical work for drilling identified prospects.
PNOC-EC has completed seismic interpretation and evaluated options for geochemical survey for SC-79.
“The corporation also evaluated and continues to evaluate new domestic petroleum blocks for possible application nomination or farming, including newly awarded areas,” he added.
‘Private sector groups to join integrity chain’
PRIVATE corporate sector groups are being included in the so-called “integrity chain,” which will use block chain technology in monitoring the activities of key government agencies.
Donald Patrick L. Lim, president and COO of DITO CME Holdings Corp. and chief innovation officer of Udenna Corp., said private corporate groups, such as the Institute of Corporate Directors, Financial Executives Institute of the Philippines, among others, will be integrated into the system.
The E&P plans for next year already includes an indicative budget of P65.7 million to find and develop native hydrogen resources, which is touted to play a key role in the country’s transition to a greener future—providing power without harmful emissions.
“For native hydrogen, PNOCEC will undertake geological and geophysical studies, secure prior informed consent, and conduct environmental impact state -
“Our budget utilization rate remains low due to the speculative and capital-intensive nature of petroleum exploration and production. For the first half 2025, our budget utilization rate is only 12.04 percent. From 2020 to 2024, it ranged from 9 percent to 25 percent, around half of our annual corporate operating budget is contingent, dependent on prospectivity, technical results, permitting, and procurement logistics,” said PNOC President and CEO Adrian Sugay.
PNOC-EC likewise holds two coal operating contracts (COC) 41, which is already in development and production stage, and 204, which is under exploration. Both are located in Zamboanga.
The official has identified several investment opportunities. “PNOC-EC is looking for partners in SC-57 to share costs and risks, and likewise in COC41 for development and production. PNOC-EC is also exploring overseas equity positions in coal outsourcing and is evaluating downstream gas assets, starting with potential participation in the Ilijan gas pipeline in support of indigenous gas development.”
For SC-57, PNOC-EC completed the processing of 1,519 square
Under COC-204, PNOC-EC completed regional exploration, drilling, and geophysical logging, and continued evaluation of potential reserves.
“For coal, PNOC-EC will maintain only minimum development and compliance activities while management continues to evaluate the appropriate course of action for the mines in light of current operational and economic constraints. The corporation will, however, continue feasibility studies, infill drilling for data completion, environmental impact assessments, and mine planning,” added the PNOC-EC official.
Earlier this year, PNOC-EC remitted P347.75 million in dividends to the national government from the prior year’s income.
“Integrity is doing good while no one is watching. But integrity is protected when everyone else is watching,” Lim, who is also president of Blockchain Council of the Philippines, said in a forum organized by P&A Grant Thornton.
He said the main problem of applying blockchain on the budget is that most of the government agencies are not digitized.
“If data is immutable from the start; when the data is wrong or tampered, everything becomes tamperproof even if the data is wrong. So, that’s also a cause of concern,” he said.
“So, that’s why I place the principle of what is called the people chain on top of the blockchain. We gathered 50 organizations which means people will be looking. And these are heads of private enterprises.”
The said integrity chain is a blockchain-powered platform designed to embed transparency, accountability and public trust into national infrastructure projects. A memorandum of agreement (MOA) was already signed between Lim and Department of Public Works and Highways Secretary Vince B. Dizon earlier this month. The MOA aims to digitize and secure key data on selected national projects. These include budgets, procurement processes and construction milestones, and will be placed on an immutable blockchain ledger that is accessible to the public. Lim said they have tapped a foreign-assisted grant for the initiative. “And we’re piloting it on the foreign aid for assisted project. Why? Because if it’s the regular budget coming from taxes, it would be a hard topic; and I will be attacked also on all fronts.”
Leonard Duque, chief information officer and director of technology solutions group of P&A, said to prevent a huge scale corruption such as the ghost flood control projects, citizens should have a safe space for reporting anomalies.
“People are not reporting because they are afraid. And there are platforms out there that allows whistleblowing, which we can use in order to empower our employees to speak up when they see wrong doing.” VG Cabuag
ABLE president Jasper Vicencio: Successful ISP event tees off PHL as world-class golf destination
By Francine Medina
The International Series, the most prized pathway to the golfing professional league, made its impressive shot in the Philippines last weekend.
The prestigious professional men’s golf tournament features a lineup of elevated events sanctioned by the Asian Tour and offers golfers a route to the prestigious LIV Golf League. At stake are grand prizes and the chance to compete at world-class venues around the globe.
In the latest episode of BusinessMirror’s digital show, “Freshly Brewed,” Sportswriter Josef Ramos meets with AB Leisure Exponent (ABLE) president Rafael Jasper Vicencio to discuss the significance of this global event to the Philippines.
ABLE is the pioneer in professional bingo gaming in the Philippines. It is the operator and licensee of the Philippine Amusement and Gaming Corporation (PAGCOR) for online and onsite bingo games.
According to Vicencio, part of its digital pivot during the pandemic was to offer live streaming Bingo through the platform, BingoPlus. Besides building its own
community and entertainment hubs, the BingoPlus platform and sites have become a source of revenue for the government, sponsoring fundraising activities related to social and educational programs.
The International Series Philippines (ISP) was held last October 23 to 26 at the Sta. Elena Golf Club in Santa Rosa, Laguna. The successful event gathered the country’s finest golfers and the world’s major champions—Dustin Johnson, Patrick Reed, Charl Schwartzel, and Louis Oosthuizen.
On choosing to partner with an international golf event in particular, Vicencio explained, “Our brand has become a household name, and when you talk about the digital entertainment platform, what comes to mind is BingoPlus.”
“We set the standards high, and on that note, we only want to partner with the big brands and organizations that share our vision. And the international series is a match for us.”
Vicencio said that the brand has always brought local and international sports and entertainment events closer to Filipino homes.
“Our brand showed strong support during the FIBA basketball games in 2023. We are also supporting the new season of the Philippine Basketball Association, which we have been supporting since 2020. We have also supported the Philippine Volleyball League.”
“This time, we are partnering with the International Series because we believe that Filipinos deserve to witness a grand type of event by enjoying the International Series,” he added.
“It is only BingoPlus that can bring this world-class event to the Philippines. Just as we have done with our other sponsored events, we aim to make this extra special and truly entertaining for everyone.”
Vicencio mentioned that the country has more than 100 golf courses in the Philippines that are considered destinations by foreign visitors. This includes the 27-hole Sta. Elena Golf Club, the venue of the International Series. Located in Sta. Rosa, Laguna, Sta. Elena Golf Club is considered by many golfers as a dream course because of its wide fairways, dramatic natural backdrop of the Sierra Mountain range, and the club’s first-class amenities.
Making the prestigious golfing event happen in the Philippines aligns BingoPlus with the Department of Tourism’s (DOT’s) recently launched campaign called the Philippine Golf Experience. In a statement, DOT Secretary Christina Frasco said the country has the potential to be a worldclass golf destination.
“What was needed was a deliberate effort to place golf
within our broader national strategy, not only as a sport, but as an experience that brings together play, culture, and community. This is what the Philippine Golf Experience stands for,” Frasco noted during the campaign’s launch in August.
Driving engagements and connections
Meanwhile, in his “Freshly Brewed” interview, Vicencio mentioned that ABLE continues to support various local golf events such as NextGen “Play It Forward,” PAGCOR, and the 100 Presidents’ Golf Cup tournaments, to name a few.
Beyond their gaming platform, the company aims to build connections and encourage community engagement.
“People of all ages can enjoy the sport, which makes it a powerful platform to bring communities and our brand together. We are navigating this new approach with enthusiasm.”
On a par with excellence
While the ABLE president admitted that the level of challenges in collaborating with an international group is greater than when they partner with local tournaments.
“The rules and regulations are different in local versus international events. The protocols we need to follow are different. And, we need to bring international talent as well. So, it’s really a step up for BingPlus,” Vicencio said.
“But this has always been the commitment of BingoPlus since we started; to be the first in everything. We started as the first online bingo platform. We continue to set high standards,” he added. “That the brand speaks for itself in terms of quality entertainment and that it can bring in international events here.”
After the successful ISP tee off, Vicencio assured that there would be more exciting collaborations next year. “Definitely, as BingoPlus, we want to be at the forefront of everything. We want innovations to come. Our focus is on delivering a living entertainment platform in the Philippines.
“We want to strengthen and improve our presence in the Philippines while exploring collaborations that will align with our values and what will move us forward to global competitiveness,” Vicencio concluded.
•Watch the full episode on BusinessMirror’s YouTube channel. Catch new episodes of “Freshly Brewed” every Monday, 10 a.m. on BusinessMirror’s YT, FB, and online pages.
He acknowledges, “Golf is a valuable sport that goes beyond competition. It is globally known and fosters discipline among the players and sports enthusiasts. It’s a shared experience.”
AB Leisure Exponent President Rafael Jasper Vicencio
BusinessMirror's sports reporter Josef Ramos
AB Leisure Exponent President Rafael Jasper Vicencio talks about the International Series Philippines, with BusinessMirror's sp orts reporter Josef Ramos.
Banking&Finance
Banks in calamity areas given breathing space
HE Bangko Sentral ng Pilipi-
Tnas (BSP) has amended the guidelines on regulatory relief for banks affected by calamities to ensure financial stability and continuous access to banking services in disaster-hit areas.
Through the BSP Circular 1221, the Monetary Board approved the amendments to the guidelines covering banks operating in areas declared under a state of calamity.
“Such calamities can disrupt business operations and result in damages and losses, affecting income streams or cash flows, including paying capacity and risk profile of clients of banks,” the circular read.
As such, all banks may grant a temporary grace period of up to six months for borrowers adversely impacted by calamities, which covers all outstanding loans classified as current, prior to the inception date of the calamity.
No interest on interest, penalties, fees or other charges shall be imposed on the borrower during the grace period, the BSP said.
Banks are also encouraged to defer payments on all agricultural loans for six to 12 months.
For borrowers directly engaged in crop production activities, loan payments may be deferred and repayment terms may be adjusted to align with the production cycle of the affected crop.
All banks may also temporarily exclude from past due and nonperforming loans computations the loans of affected borrowers upon the grant of a temporary grace period for payment or restructuring.
In addition, the BSP has relaxed the notification requirements for changes in banking days and hours, temporary closure of bank branches
and branch-lite units and deferred the branch openings in affected areas for up to three years.
For thrift, rural and cooperative banks, they may apply for staggered booking of credit loss allowances for over three years, subject to the approval of the central bank.
They may also stagger impairment losses for damaged physical assets and request a six-month moratorium, without penalty, on monthly BSP loan payments.
Meanwhile, rediscounting banks may apply for a 60-day grace period to settle outstanding rediscounting obligations with the BSP as of the inception date of the calamity.
They may also opt to restructure rediscounted loans with the BSP, while the central bank relaxed eligibility requirements for rediscounting lines during a calamity period.
To aid residents in areas declared under a state of calamity, the BSP has relaxed identification requirements for transactions, including electronic and online transactions, capped at P50,000 per day.
Moreover, the BSP will temporarily allow currency withdrawals by banks not yet enrolled in PhilPaSS or the BSP currency management system at BSP Regional Offices and Branches to ensure continued access to physical cash.
This measure, intended to provide additional operational flexibility to banks during emergency situations, will be effective until December 31, 2027.
“To safeguard the integrity and security of currency withdrawal transactions conducted under this temporary arrangement, the Bangko Sentral reserves the right to impose additional documentation or procedural requirements as necessary,” it added. Reine Juvierre S. Alberto
Pagcor chief cites role of casinos in economy
INTEGRATED resorts and casinos have become the country’s major engines of tourism and economic recovery, with industry revenues soaring and new investments fueling growth, according to the Philippine Amusement and Gaming Corporation (Pagcor).
Speaking at the a forum on hospitality last Friday, Pagcor Chairman and CEO Alejandro H. Tengco said integrated resorts have turned into dynamic lifestyle and business hubs, reshaping the tourism landscape and creating new opportunities for growth.
“Gaming, entertainment, and hospitality are not separate worlds but interconnected forces that drive growth, create jobs, and enrich the tourism experience,” Tengco said.
The gaming and entertainment sector is still showing a robust rebound, according to Tengco, citing industry data. In two years, gross gaming revenues rose by 75 percent to $6.5 billion in 2024 from $3.75 billion in 2022, he said.
The Pagcor official, hence, urged industry players in gaming, tourism and
hospitality to embrace sustainability and adapt to digital transformation.
“The future of hospitality is being reshaped by technology and sustainability,” Tengco said. “We must ensure that every guest experience also contributes to local well-being.”
According to him, the Pagcor has been modernizing its regulatory and operational frameworks while ensuring that operators follow the principles of responsible, transparent and sustainable gaming.
Stricter regulations on advertising related to gaming, intensified campaign against illegal gambling and the ban on gambling promotions in public areas and primetime are some of the agency’s initiatives.
“At Pagcor, responsible gaming is not just a slogan but a commitment to protect the vulnerable, uphold transparency, and preserve public trust,” Tengco said. Tengco added that Pagcor seeks to remain not only a regulator but also a “catalyst for responsible growth.” Reine Juvierre S. Alberto
Condo among assets to be sold by the PDIC
CONDOMINIUM units in Muntinlupa to a mixed-use property in Surigao del Norte are up for bidding in next month’s public bidding of assets of closed banks, according to the Philippine Deposit Insurance Corp. (PDIC). The PDIC, the statutory receiver of closed banks, said it will hold electronic public bidding, or e-bidding, on November 26-27 on an asis-where-is basis for the extensive portfolio of corporate and closed bank assets, including 19 prime residential condominium units located in Hudson Place Tower I, East Bay Residences, Sucat, Muntinlupa City, and a 141 square meter mixed commercial/residential lot situated in Surigao del Norte. “Included in the portfolio for sale are 28 residential properties, 21 agricultural properties, and three mixed residential/agricultural properties, with lot areas ranging from 116 square meters to 9.94 hectares,” the PDIC said. The properties are located in Laguna, Batangas, Rizal, Quezon, Bulacan, Tarlac, La Union, Pangasinan, Isabela, Ilocos Norte, Ilocos Sur, Albay, Romblon, Misamis Oriental, Surigao del Norte, and Cebu. The bidding will be exclusively conducted through the PDIC e-bidding portal at https://assetsforsale.pdic.gov.ph, with submitted bids to be formally opened at 2:00 pm on November 27. Manuel T. Cayon
DOF eyes raising tax-exempt ceiling for worker allowance
By Reine Juvierre Alberto @reine_alberto
THE Department of Finance (DOF) is proposing higher tax-free benefits for private and public sector workers to ease the burden on taxpayers amid rising consumer prices.
Under the proposal, employees in both sectors will enjoy higher non-taxable allowances and benefits aimed at improving labor conditions and social protection of Filipino families.
According to the DOF, the taxexempt ceiling for monetized unused vacation leave credits for private employees will be raised from 10 days to 12 days, while the current uncapped benefit for government employees’ monetized vacation and sick leave will be retained.
The DOF is also seeking to increase medical cash allowances for dependents from P1,500 to P2,000
per semester, and increase rice subsidies from P2,000 to P2,500, or its market equivalent, per month.
Likewise, the non-taxable threshold for uniform and clothing allowance will rise from P7,000 to P8,000 per year.
The Finance department also proposed to hike the ceiling for actual medical assistance from P10,000 to P12,000 per year, as well as laundry allowance from P300 to P400 per month.
Moreover, the DOF wants to increase employee achievement awards from P10,000 to P12,000 per year and the Christmas or anniversary
gifts from P5,000 to P6,000 per year. The tax-free limit for meal allowance for overtime or night-shift work, meanwhile, will be raised from 25 percent to 30 percent of the minimum wage, while the combined ceiling for collective bargaining agreement and productivity incentives will go up from P10,000 per year to P12,000 per year.
Finance Secretary Ralph G. Recto said the government “strives to ease the burden on taxpayers and for them to feel the relief, as the proposal seeks to boost their take-home pay and reduce their daily financial strain.”
“These increases will have minimal impact on the government revenues but will definitely make a significant difference for our workers,” Recto said.
The Finance chief has also instructed the Bureau of Internal Revenue (BIR) to study possible exemptions for certain taxpayers from withholding and remitting creditable withholding taxes.
President Ferdinand R. Marcos Jr. has said the government is committed to integrity in public finance and taxation, adding that the BIR will recalibrate its priorities to hold
those involved in irregularities in flood control projects accountable.
“We will uphold fairness in our tax system. We assure our micro, small, and medium enterprises and large corporations who have been lawfully paying their taxes, that you will be treated justly,” Marcos said. The DOF’s proposal comes as risks to inflation outlook now seen “limited” throughout 2025. In a briefing paper released on October 10, Citibank NA-Manila Branch economists wrote that following the downside surprise in September consumer price index —which at 1.7 percent was below the mid-point of the central bank’s forecast range of 1.5-2.3 percent— the Bangko Sentral ng Pilipinas (BSP) “downplayed upward inflation pressures from potential electricity adjustments and possibly higher tariffs on price imports, noting that “price pressures are expected to ease.” The BSP kept its 2025 inflation forecast at 1.7 percent, while lowering its 2026 forecast 20 basis points (bps) to 3.1 percent (from 3.3 percent), and 2027 forecast by a sizeable 60bps to 2.8 percent (from 3.4
Labor group seeks higher exemption on income tax
By Justine Xyrah Garcia
ACOALITION of 48 labor unions and organizations wants lawmakers to legislate a higher tax exemption on workers’ income.
Federation of Free Workers (FFW) President Jose G. Matula said last Sunday the proposal aims to make the country’s tax system “more equitable and responsive to the needs of ordinary workers.”
“Our message is simple: If you can hardly afford rice or viand, you should not be paying the same taxes as those who can buy yachts or helicopters,” said Matula, who is also
the chairman of the coalition where FFW belongs: the Nagkaisa (united) labor coalition.
Matula cited estimates from independent think tank IBON Foundation Inc. and former National Economic and Development Authority Secretary Ernesto M. Pernia showing that the living wage for a family of five ranges from P36,750 to P42,000 a month or about P450,000 a year to P500,000 a year.
He said exempting those earning below P500,000 annually from taxes would help ease the financial pressure on households and allow workers to retain more of their income.
“That is the right reform: reduce taxes on the poor and the middle class, and impose taxes on excessive wealth. That is an economy with compassion and concern for the common good,” he added. Matula also said a solidarity wealth tax on billionaires would help fund social programs without burdening ordinary workers.
He noted that countries such as Germany and Spain have adopted similar measures—a 5.5-percent solidarity surcharge and a wealth tax on assets above €3 million, respectively—to promote fairness in revenue collection.
“Tax justice means giving the hungry a chance to breathe, while asking more from those whose pockets are full,” Matula said. The call came as President Ferdinand R. Marcos Jr. announced last Saturday that the Department of Finance and the Bureau of Internal Revenue had submitted proposals to increase the ceilings for tax-exempt de minimis benefits. The department, likewise, proposed increasing the tax-free limits for employee achievement awards, actual medical assistance and collective bargaining agreement incentives. (See main story)
Central bank urged to create strategic Bitcoin reserve
By Jovee Marie N. dela Cruz @joveemarie
ALEADER of the House of Representatives has urged the Bangko Sentral ng Pilipinas (BSP) to seriously consider establishing a strategic Bitcoin (BTC) reserve, following the cryptocurrency’s strong market rally that pushed its value past $125,000 this month, from just below $100,000 at the end of 2024.
Camarines Sur Rep. Miguel Luis “Migz” R. Villafuerte, chairman of the House Committee on Information and Communications Technology, said this surge should prompt the BSP to “take a long, hard look” at adopting Bitcoin as part of the country’s monetary diversification strategy for long-term financial security.
“Given current market conditions and more favorable U.S. policies seen to support further crypto growth, experts predict Bitcoin could reach between $165,000 and $250,000 before the year ends,” Villafuerte said.
He explained that such bullish forecasts “make a compelling case for the BSP to begin building a strategic BTC reserve—an opportunity for the Philippines to benefit from the growing role of digital assets in the global financial system.”
To enable this, Villafuerte said Congress must pass new legislation aimed at diversifying national reserves, similar to other countries’ stockpiles of strategic assets. He is the author of House Bill (HB) 421, which seeks to establish a “National Bitcoin Reserve.”
Bitcoin briefly dipped to $105,000 during a recent market sell-off but quickly rebounded to around $115,000—another sign, Villafuerte said, of its market resilience.
“In order for the State to promote and maintain economic prowess, including monetary stability and the convertibility of the peso, especially in times of crisis, the 20th Congress needs to write new legislation aimed at diversifying our assets to ensure financial security by stockpiling on strategic assets such as BTC,” he said.
Villafuerte said the Philippines currently holds dollar and gold reserves, but the rising global importance of Bitcoin underscores the need for complementary assets. “BTC’s significance in driving economic resilience worldwide makes it necessary for us to take decisive legislative action,” he added. He noted that Bitcoin—introduced in 2009 as a decentralized alternative to traditional assets like cash, gold, and real estate—has since become the world’s best-performing financial asset, appreciating by a third this year alone. U.S. Federal Reserve Chairman Jerome Powell has even likened it to “digital gold.” Financial giants also share the optimistic outlook. J.P. Morgan has said Bitcoin remains undervalued compared to gold and could rise 40% higher, while UK fintech firm Finder forecasts a potential surge to $250,000 later this year.
Under HB 421, the proposed Strategic Bitcoin Reserve would mandate the BSP to acquire 2,000 BTC annually for five years—a total of 10,000
Bitcoins—to be held in trust for at least 20 years. The BSP Governor would lead a Bitcoin Purchase Program (BPP), ensuring transparent and market-sensitive acquisitions, subject to periodic review based on global conditions.
The bill further stipulates that no BTC from the reserve may be sold, auctioned, or otherwise disposed of within the 20-year holding period, except for the purpose of retiring government debt instruments. After the holding period, the BSP may recommend selling no more than 10% of the reserve every two years. HB 421 also mandates the BSP Governor to coordinate with the Departments of Finance, Defense, and ICT, the Securities and Exchange Commission, and industry experts to guarantee the physical and digital security of the proposed Bitcoin Reserve.
“The establishment of a strategic Bitcoin reserve is a forward-looking step toward financial sovereignty and digital readiness for the Philippines,” Villafuerte said.
Leaders of govt employees’ groups, GSIS’s Veloso talk
Monday, October 27, 2025
Sports betting is a booming business.
The FBI’s NBA probe is putting it in the spotlight
By Wyatte Grantham-Philips | The Associated Press
NEW YORK—The stunning indictment that led to the arrest of more than 30 people, including Miami Heat guard Terry Rozier and other NBA figures, on charges of illegal sports betting has drawn new scrutiny of the booming business of professional sports gambling across the US.
Since widespread legalization, the multibillion-dollar industry has made it easy to place wagers on everything from the outcome of games to that of a single play with just a few taps of a cellphone. It’s just about impossible to go to a basketball, football, baseball or other pro game today — or watch a matchup on TV — without seeing ads for sports betting.
Fans can place wagers from their stadium seats, while “Bet” tickers scroll on TV sports broadcasts. Star athletes are frequently at the center of ads promoting it all.
In Thursday’s indictment, federal investigators accused Rozier and other defendants of breaking the law by exploiting private information about players to win bets on NBA games. Rozier’s lawyer, Jim Trusty, said in a statement that his client is “not a gambler” and “looks forward to winning this fight.”
A separate indictment alleges Portland Trail Blazers coach Chauncey Billups and others participated in a conspiracy to fix high-stakes card games. Billups’s attorney, Chris Heywood, issued a statement denying the allegations, calling his
client a “man of integrity.” Regulating sports wagering has proven to be a challenge — and experts warn about the ramifications for gamblers who typically lose money. Professional leagues’ own role in promoting gambling has raised eyebrows. Here’s what we know.
Explosion of legalized sports betting SPORTS betting is probably as old as sports itself. But in the US, legal gambling really took off in 2018.
Th at’s when the Supreme Court struck down the Professional Amateur Sports Protection Act, which barred sports betting in most states. Once allowed only in Nevada, sports betting is now permitted online or in retail locations in 38 states and Washington, D.C. Missouri will become the 39th state on December 1. Experts say the biggest jump has been online, through smartphone apps and platforms like DraftKings and FanDuel. Through the third quarter of this year, legal sports betting generated $10 billion in revenue, up about 19% from the
same period a year ago, according to the American Gaming Association. The industry argues that legal wagering generates money for states and can deter illegal betting. Major operators point to technology they use to monitor suspicious activity. FanDuel said Thursday’s news illustrates “the stark contrast between legal and illegal betting markets.”
Who benefits?
THERE is plenty of money on the table both for those who place winning bets and the platforms that make it possible. The NBA and other pro sports leagues have also created revenue streams by partnering with sportsbooks and reaping advertising dollars. Live game stats provided by leagues are key to the sports world’s relationship with the gambling industry. When you’re able to bet what the next pitch in a baseball game is going to be, that’s because Major League Baseball is selling data to
platforms “for a pretty high price,” according to Isaac Rose-Berman, whose research focuses on sports betting as a fellow at the American Institute for Boys and Men.
The NBA has a partnership with Sportradar for its data rights. Sportradar, in turn, provides FanDuel Sportsbook official NBA statistics. When the deal was announced in 2022, Sportradar touted it as a way “to monetize our long-term partnership with the NBA.”
How is sports betting regulated?
EACH state has its own regulations and tax rates for sports betting. A handful restrict where you can place bets — allowing users to use mobile apps, but only while they’re physically inside a casino or within a certain radius of a stadium, for example. Others limit which betting platforms you can use or what you can bet on.
“States sort of opened up a can of worms, and now some of them
are starting to realize just how crazy this sports betting world sort of is,” said Wayne Taylor, a professor of marketing at Southern Methodist University.
A n even stickier factor is when players and other team or league personnel are involved. The NFL, NBA, MLB and NHL all prohibit employees and players from betting on their own league games, although some gambling in separate areas is allowed.
L egalized betting has certain security advantages in that unusual betting patterns — such as large bets being placed on a random player’s performance — can be immediately flagged. In some cases, sportsbooks have taken down odds on certain events to protect against manipulation.
Still, experts like Taylor note that companies’ own financial interests may bring some of that into question. And across the sports market, he says the large number of players and scope of micro bet possibilities makes potential manipulation “easier to hide.”
What is prop betting?
A PROP is a type of wager that allows gamblers to bet on whether a player will exceed a certain statistical number, such as whether a basketball player will finish over or under a certain total of points, rebounds, assists and more.
Th is kind of bet is key to the sports betting probe announced Thursday. Investigators pointed to a March 23, 2023, game involving Rozier, then playing for the Charlotte Hornets.
Rozier played the first 9 minutes and 36 seconds of that game — and not only did he not return that night, citing a foot issue, but
he did not play again that season. He finished with five points, four rebounds and two assists — a productive opening quarter, but well below his usual total output for a full game. At the time, many bettors turned to social media to say that something shady occurred regarding prop bets involving his stats for that night.
More broadly, the NBA has expressed concern about prop bets, while other sports leagues have worried about the potential for manipulation.
Earlier this year, Ohio Gov. Mike DeWine urged his state’s gambling commission to ban prop bets after Major League Baseball placed two Cleveland Guardians pitchers on leave during a sports betting investigation. What are other pitfalls and social implications?
SPORTS betting also faces criticism for opening the door to addictive gambling.
“ The fact that it’s normalized, the advertising is aggressive, it’s available 24/7, the micro bets — all of this is adding up to tremendous increase in usage across individuals,” said Taylor, citing algorithms and other incentives betting platforms use to increase engagement. Rose-Berman notes that platforms make the most off of returning “biggest losers.” Recent research suggests that young men in low-income communities are particularly affected by financial consequences tied to sports gambling. Upwards of 90% of sports bettors are not really going to experience significant negative impacts — but it’s really concentrated among those big losers and it’s going to be devastating for them,” he said.
A DIGITAL advertisement for the online gambling company
FanDuel is displayed in the first half of an NBA basketball game between the Miami Heat and the Memphis Grizzlies, Friday, October 24, 2025, in Memphis, Tennessee. AP/BRANDON DILL
PORTLAND Trail Blazers head coach Chauncey Billups walks to a vehicle after his federal court appearance on Thursday, October 23, 2025, in Portland, Oregon. AP/JENNY KANE
Pageant Reportage 2025...so far
LEGEND has it that when Apasra Hongsakula embarked on her quest for the Miss Universe 1965 crown, it was a true royal who “trained” her—Queen Sirikit. That’s why when news spread that the dearly beloved Queen Mother of Thailand had passed, the pageant world was also plunged into mourning.
Thailand has lately become the global pageant capital, with our flagbearers doing exceedingly well in their competitions held there: Kenneth Marcelino is Mister Cosmopolitan 2025 First Runner-up, Kirk Bondad is Mister International 2025 and Emma Mary Tiglao is the new Miss Grand International.
However, tradition in the Kingdom dictates that a period of mourning after the death of a monarch must be observed. Thus, the forthcoming Miss Universe on November 21 will be somber. And, as of this writing, the Miss Wellness World 2025 finals will also be respectfully sedate.
Here then is a round-up of the crazy pageant happenings so far:
EMMA MARY TIGLAO, MISS GRAND INTERNATIONAL 2025
THE Philippines achieved an unprecedented milestone as Emma was crowned Miss Grand International 2025, marking the first-ever backto-back victory in MGI history following Christine Juliane Opiaza’s assumption of the 2024 title.
As Emma continues the legacy of pride, power and passion that defines what it truly means to be Grand, she wrote a post a day after her triumph: “With a heart overflowing with gratitude, I am still in awe that this dream has become my reality. Thank you, @missgrandinternational, Papa @nawat.tv, Mama @teresa.mgi, for trusting me with this once-in-alifetime honor.
“To my beloved fellow Filipinos—this journey became our story because of you. Your ‘1 million heart reacts’ were more than just likes; they were symbols of bayanihan, of unity, of love that echoed across the world. You showed everyone what it truly means to stand as one nation, one heart and one voice.”
JULIANA
AGUIERO PANOPIO, MISS WELLNESS WORLD PHILIPPINES 2025
JULIANA PANOPIO was bestowed her title on October 9 at 225 Bistro in Quezon City by Ghune Katigbak, national director of MWWP, and Eduardo Domingo Jr., MWWP CEO and president.
A native of Laguna, the 21-year-old studies at the University of the Philippines Diliman. At her sashing and crowning, I got to ask her: “As a civil engineer, how will you help improve the flood control projects in Laguna?”
She replied: “Well, I know that it’s a very pressing issue right now, especially in Laguna where we see a lot of news that some officials are part of corruption. So, I believe that we should hold the wronged officials accountable. And if we demand transparency for their future projects, then we can ensure that the budgets are properly allocated and given to the people.”
PAULA MERCED VITUG, MISS ECO TEEN
INTERNATIONAL 2025 FIRST RUNNER-UP
PAULA, a legal management student at the Ateneo de Manila, emerged first runner-up at the Miss Eco
Alexandria, Egypt. At her sendoff on October 8, I asked her: “You’re an aspiring lawyer. So, what are your thoughts on the current judicial system in the Philippines?”
Her reply: “A lot of the time here in our country, we have a lot of flaws and aspects in which things are not really fair, especially for society and Filipinos.
And I think my role in this also is to help spread my voice and advocate for what is right in order for us to work together, and for our voices to reach out to more people in order for us to work as a nation, especially if this includes unfairness in our legal systems and in the things that our government does for us.”
AN Australian with a mixed Asian background (Indonesian-Singaporean-Malaysian), Isybella placed in the Top Five of the People’s Choice Award before the finals of the Mrs Universe pageant held in Manila on October 8 at Okada Manila.
She works as a legal counsel for an environment energy-based company while also handling her own businesses in fashion designing and media publication in Melbourne. On November 1, Isybella will release her second book, titled Behind the Crown, a deeply personal reflection on courage, transformation, and the strength of stepping beyond comfort zones.
November 22, Isybella will join the Cairns Fashion Show 2025, where she will debut her latest collection under MsBella Collections.
ALEXA HEATHER RODER, MISS EARTH AUSTRALIA 2025
A HALF-FILIPINA born and raised in Davao, Alexa is one of the more articulate candidates in the ongoing Miss Earth 2025 pageant in Manila. She is in the final month of completing her Bachelor of Laws (Honours), she works as an executive legal assistant at Roder Lawyers.
At her meet-and-greet with the press on October 19, I got to ask her: “Except for the reigning Miss Earth Jessica Lane, who is the Australian beauty queen that inspires you the most?”
Her reply: “So, I am a little bit biased, but she is half-Australian, half-Filipina, and it is Catriona Gray. She resonates with me because she entered beauty pageants over and over again because she knew that she wanted to do this and she had a bigger purpose and she succeeded. So, her resilience is really something that inspires me.”
ANNABELLE MAE MCDONNELL, MISS GLOBE 2025 TOP 10
THOUGH she was shockingly displaced from the Top 5, Annabelle will continue her advocacy for children’s welfare. This is what she shared when she visited the
BusinessMirror office with her Binibini sisters:
“I’ve been advocating for Save the Children Philippines. They’re an NGO basically focused on children’s rights, and they do so by lobbying bills in the Senate or launching their own programs with LGUs and NGO,s as well.
“And one of such programs that I particularly appreciate is the Life Changer for Children programs. It was really refreshing to see and hear straight from indigenous children themselves what do they think their problems are, what do they fear about in terms of their future.
“And that’s the beauty of advocating for children’s rights. It makes everything so crystal clear or so simple, just like how a child views the world and just like how a child views what’s right.”
MARIA AHTISA MANALO, MISS UNIVERSE PHILIPPINES 2025
T her sendoff on October 23, the tantalizing Ahtisa was asked by Miss International 2013 Bea Rose Santiago on what kind of difference we are going to see from her Miss International journey to now the biggest stage, Miss Universe:
“You know, I actually beg to differ with what people usually say that you have to change yourself to fit Miss Universe. I think the organization is much more sophisticated than that in the sense that they don’t look for a complicated crew. They look for someone who is a good representation of certain hopes and dreams and advocacies.
“And I think that I really don’t need to change who I am to fit the Miss Universe crown because if it’s for me, it will be for me. I believe in destiny. I believe that I am enough as a person and the things that I’ve been through, the things that I can share with people, that there is no need to pretend to be a certain type of person just to attract people.”
The collection explores the fibre across a spectrum of gauges and styles. Brushed cashmere wraps the body in warmth, while lighter merino-cashmere blends provide a delicate touch for versatile styling. Each yarn is handselected and meticulously spun, retaining its soft texture, reflecting COS’s dedication to quality. The palette balances inky darks and soft neutrals, enriched with espresso brown, deep aubergine, and dark navy. Signature COS essentials – cardigans, crewnecks, high necks and waistcoats – are designed to move with ease and adapt across the season. Meanwhile, featherlight triangle scarves in cashmere offer customisable layers of warmth and comfort.
Made in accordance with the Good Cashmere Standard by Aid by Trade Foundation (AbTF), the collection reflects COS’s commitment to high-quality fibres and thoughtful design.
The Autumn Winter 2025 cashmere collection is available online at www.cos.com throughout the season and at the COS Store in SM Aura Premier.
Deciphering the 9-step Korean beauty routine COS REVISITS CASHMERE FOR AUTUMN WINTER 2025 FOR Autumn Winter 2025, indulgent fashion brand COS revisits cashmere, where fine textures and refined details give form to cocooning silhouettes.
A 10-STEP Korean beauty routine is overwhelming for most people who barely have 5 minutes to spare for skincare, but it really gives you that famous Korean glow when done regularly. I tried to do this years ago for maybe three months and it really worked.
Back then, I would ask friends traveling to South Korea to get my toners, essences, sheet masks, and ampoules for me. With 78 stores nationwide, SM Beauty provides customers with some of the mostsought after K-beauty brands such as Deoproce, CosRX, Beauty of Joseon, Round Lab, Genabelle, Some by Mi, and many more. There is so much K-beauty to be enjoyed and experienced at SM Beauty.
Here is a rundown of a 9-step Korean
routine (including suggestions on what steps you can skip):
1:
n
formulations designed to deliver an intensive dose of ingredients that can address common skin complaints. Try: Standard Seoul Firming Bouncy Boost Serum n Step 6: Ampoule. Like serums, ampoules also deliver concentrated amounts of ingredients to the skin. Ampoules can be used as intensive treatments for boosting hydration, brightening the complexion, and improving skin texture and tone. Try: Genabelle PDRN Vita Toning Ampoule
Step 4: Essence. An essence is a water-based product that contains active ingredients that hydrate and protect. This is a step you can skip during the day. Try: Skintific Niacinamide Brightening Essence n Step 5: Serum. Serums are highly concentrated
n Step 7: Sheet Mask. Sheet masks are associated with K-beauty and they provide additional benefits when used once or twice a week. Try: Deoproce Lap Therapy Placenta Soothing Masks n Step 8: Moisturizer. Moisturizers lock in the benefits of other skincare products and soothe the skin for the coveted glass-skin look. If you have oily skin, you can skip this during the day. Try: Some By Mi Yuja Niacin Brightening Moisture Gel Cream n Step 9: Sunscreen. Sunscreen protects your skin against the sun’s rays. This is a step that should not be skipped even on cloudy days. Try: Beauty of Joseon Relief Sun: Rice + Probiotics
Fuji-Haya Electric Joins the 50th IIEE Annual National Convention
To celebrate the 50th year of the Institute of Integrated Electrical Engineers of the Philippines, Inc. (IIEE), FujiHaya Electric Corporation is set to join the 50th IIEE Annual National Convention and 3E XPO 2025, happening from November 26 to 29, 2025, at the SMX Convention Center, Pasay City.
Marking a milestone year for both the IIEE and the electrical engineering community, the 50th convention highlights five decades of excellence, innovation, and collaboration in advancing the nation’s power and energy sector. As one of the country’s trusted names in power distribution and electrical systems, FujiHaya Electric is honored to take part once again in this momentous event carrying its theme “Beyond Expectations: Powering Progress, Expanding Horizons”.
Since 1979, Fuji-Haya Electric has
been serving the country’s power protection and distribution needs, combining Japanese engineering standards and Korean emergence in technology to deliver world-class electrical solutions. The company has been a trusted partner in ensuring safe and reliable power systems guaranteeing continuous and stable electricity across its multitude of clients nationwide.
Fuji-Haya Electric takes pride in being the only company in the Philippines with its own certified Type-Tested Medium and LowVoltage Switchgear designs, locally engineered and fully tested in internationally recognized third-party laboratories. These products have been proven to withstand the most demanding conditions in accordance with IEC standards
and the Philippine Electrical Code.
This year, the company’s exhibit will highlight its Ring Main Unit (RMU), Low Voltage Switchgear (LVSG), Uninterruptible Power Supply (UPS), Capacitor Bank, and Automatic Transfer Switch (ATS), all designed to deliver superior safety, efficiency, and reliability in modern power systems. Visitors can also explore the company’s Arc Relief Device Technology, a patented safety feature that enhances user protection, as well as its Super Capacitors with Self-Healing Metalized Electrodes, known for their durability, extended lifespan, and superior performance.
Fuji-Haya Electric Corporation is located at Booths 72 to 77 at the 50th IIEE Annual National Convention and 3E XPO 2025.
Newport World Resorts, Gordon Ramsay Bar & Grill PH, PAF join forces for Cebu earthquake relief mission
AS communities in Cebu continue to recover from the recent earthquake, Newport World Resorts extended support through its LOVE (League of Volunteer Employees) to the Rescue program. In partnership with Gordon Ramsay Bar & Grill Philippines and the Philippine Air Force (PAF), the integrated resort deployed 1,000 relief bags to the hardest-hit areas on October 12, 2025 Volunteer employees pooled resources together and filled up boxes of relief supplies. These were turned over to the Philippine Air Force for delivery to three affected barangays, including Brgy. Daangbato in Medellin, and Brgy. Poblacion and Brgy. Bitoon in Daan Bantayan. The relief operation is part of Newport World Resorts’ commitment to social responsibility, uniting its employees, hotel brands, and corporate partners under one mission. Through LOVE to the Rescue, the company continues to turn compassion into action, reinforcing that its CSR efforts are a shared mission embraced by its people.
For more information on Newport World Resorts, visit www. newportworldresorts.com and follow @newportworldresorts on Facebook, Instagram, and TikTok. Join Newport World Resorts Viber Community at https://newportwr.com/nwrvibercommunity for exclusive updates. Every visit is made more rewarding with an Epic Rewards membership, download the Epic Rewards Mobile App for free at the Apple App Store and Google Play Store.
HOLIDAY Inn & Suites Makati proudly announces the reopening of its newly renovated Flavors Restaurant bringing a revitalized dining experience that combines contemporary flavors, sustainability, and the warmth of comfort cuisine.
After months of reimagining, Flavors Restaurant welcomes guests once again with a refreshed ambiance and a thoughtfully curated menu designed to delight both hotel guests and the local community. Its new concept, “Responsible Modern Comfort Cuisine,” blends global inspiration with sustainable practices, offering inclusive options that cater to diverse tastes and preferences.
“We envisioned more than just a restaurant—we wanted to create a welcoming space where every guest can enjoy dishes that feel both comforting and familiar,” said Andy Belmonte, General Manager. “By embracing responsible dining and modern comfort, we aim to create dining experiences that are warm, mindful and reflective of today’s modern palate – something that truly connects with our guests.”
TIMELESS at Okada Manila: A Premier Showcase of Weddings, Debuts, Tinghun, Anniversaries
THE Forbes 5-star integrated resort Okada Manila unveils “TIMELESS,” its first premier events showcase for milestone celebrations. Taking place on November 7, 2025, at the Grand Ballroom, this landmark event marks the beginning of a tradition that celebrates creativity, artistry, and the signature hospitality that continue to define Okada Manila as the country’s premier destination for bespoke celebrations. Under the theme “Where Memories Become Forever,” TIMELESS offers an exclusive experience featuring the country’s most distinguished fashion designers, stylists, and event visionaries. This event aims to give a full preview of how Okada Manila crafts bespoke celebrations, pairing world-class venues and service with imaginative storytelling, floral artistry, and show-stopping culinary presentations.
The program highlights four celebration formats—weddings, debuts, golden anniversaries, and Tinghun—woven into a continuous, visually rich showcase. Each segment features couture runway moments, interpretive performances, and thematic transformations of the Grand Ballroom.
Celebrated designer Vee Tan opens the show with her Tinghun collection, a tribute to romance and cultural tradition presented with the lush styling of Michael Ruiz and Tiger Lim. For the Golden Anniversary segment, Ryan Ablaza Uson unveils a collection that reflects enduring elegance and craftsmanship, complemented by the refined artistry of stylists Dave Sandoval
and MC Pascual.
follows with his Debut collection, an ethereal ode to youth and self-discovery, set amidst the floral dreamscape of Teddy Manuel and Blooms by Allen & JP. Finally, Banggo Niu closes the evening with his modern interpretation of bridal couture, enhanced by the signature sophistication of Gideon Hermosa and Kathy Sy-King.
“TIMELESS is very close to our hearts because it reflects what Okada Manila stands for which is creating moments that people will always remember,” said Cielo Reboredo, Vice President for Sales and Marketing. “It’s a celebration of the stories, partnerships, and milestones that come to life within our halls, and the people who make every occasion truly meaningful.”
Guests will experience curated menu tastings, live styling vignettes, and set transitions that demonstrate the resort’s production versatility, from intimate rites to grand banquets. The event is expected to draw leading names across events, fashion, and lifestyle.
TIMELESS will be held on November 7, 2025, from 5:30 pm to 10 pm at Okada Manila’s Grand Ballroom. The exclusive byinvitation-only inaugural showcase event featuring Okada Manila’s grand celebration exhibition will be graced by select guests from the events and fashion industries, as well as lifestyle community. For inquiries and updates, visit www. okadamanila.com or follow Okada Manila on social media.
Located on the fourth floor, the redesigned restaurant features an interactive live station, stylish interiors, expanded seating, and an upgraded buffet spread. Signature highlights include the Luxe Caesar Salad, Truffle Roasted Chicken with Mushroom Duxelles, Steak and Rice, Surf and Turf, Flavors Seafood Chowder and Vegan Pumpkin Soup— comforting classics elevated with a M
and savory meals, noting that the Superloaf easily fits into their routines, from school snacks in the morning to family merienda in the afternoon. Attendees experienced the upgraded Marby Superloaf, na mas pina-siksik, mas pinapino, mas pina-malambot, at mas pinasarap, securing its place as a new household staple.
The day featured activities that brought families closer together. Chef Marky, known for his creative food content, conducted a live demo showcasing quick and exciting snack ideas with Marby Superloaf, reminding
parents that good
Newport World Resorts and Gordon Ramsay Bar & Grill Philippines turned over 1,000 relief bags to the Philippine Air Force in support of communities affected by the Cebu earthquake. The ceremonial turnover was led by representatives from Newport World Resorts and Gordon Ramsay Bar & Grill Philippines, Philippine Air Force 520th Air Base Group Commander Colonel Chester R. Guanzon (5th from left), and Philippine Air Force 520th Air Base Group First Lieutenant Mc Felixes F. Cataylo (5th from right).
TIMELESS aims to give a full preview of how Okada Manila crafts bespoke celebrations—pairing world-class venues and service with imaginative storytelling, floral artistry, and show-stopping culinary presentations.
Rian Fernandez
Stress-free holiday tips for communicators
AS communicators, we are all aware of what the Christmas rush truly means. We not only have to prepare materials for the brands we handle or work on their events, we also have personal matters to take care of. These include planning get togethers, gifting, family events, and more. Sometimes, it can get a little too much to handle. It can even get more complicated if we deal with foreign clients or work in multinational corporations. How do you make the holidays less stressful and avoid gifting faux pas? In an article in Interesting Facts, Sarah Anne Lloyd shares with us some Holiday Etiquette Tips Explained.
n Invite guests early THE holidays are a busy time for most people, and they’ll want to plan accordingly. If you’re planning to host a celebration, make sure your invitations early. For small celebrations, Lloyd suggests “a little as two weeks might be okay, but for larger gatherings, the Emily Post Institute recommends inviting guests up to eight weeks in advance”.
n Other December holidays aren’t Christmas substitutes IN a multicultural society, December is full of spiritual observances including Hanukkah and Kwanzaa. Lumping all these holidays together can be insensitive. If you’re invited to a holiday celebration you’re not as familiar with, ask your host
n DENTSU REDDER, TAKEDA VIETNAM PHARMACEUTICALS
UNVEIL THE HIDDEN TRUTH OF DENGUE FEVER
HO CHI MINH, VIETNAM—
Dentsu Redder and Takeda Vietnam Pharmaceutical have launched the “DeRIGHT-V 1.0” campaign to unveil the hidden truth of Dengue Fever in Vietnam to bring the underrated dangers of dengue into the light.
In Vietnam, dengue has been a shadow people live with, known yet underestimated. Many, including a part of healthcare professionals, recognise its danger only after personal or family experience.
The campaign, spoken not in medical terms, but in symbols, stories, and shared moments where people live, play, and explore, transformed this gap into action, turning abstract health risks into tangible, urgent realities.
n At the heart of the campaign was the “Dice of Dengue”, a striking symbol of un -
about what is appropriate.
n If you send a newsletter, Don’t brag
SOME people send annual newsletters about their families along with holiday cards. If you do so, Lloyd says “it’s best to be modest. Absolutely include accomplishments you’re proud of, but don’t cross the line into bragging.”
Another tip for holiday newsletters: Only send them to people you think will be interested.
n Regift with caution
THIS can be tricky. Of course, it’s a great way to reduce space and free up valuable shelf space. It’s best to “pass it along carefully to avoid hurt feelings for both the original gift giver and the new recipient.”
Some tips: make sure it still
predictability and risk, rolled across digital and print platforms, to remind people leaving health to chance is a dangerous gamble.
n Timed with the peak dengue outbreak season, a digital film, “Stop The Dice”, dramatised the chaos of leaving health to chance, contrasting it with the calm assurance of prevention including vaccination.
n Families discovered a more playful side of health education at “Zoo Against Dengue”, a first-of-its-kind partnership for a pharmaceutical brand with the Saigon Zoo, that transformed animal enclosures into storytelling stations linking dengue complications to familiar experiences, supported by interactive games and on-site vaccination booths.
Brand Representative at Takeda Pharmaceuticals commented, “As a company, we have a responsibility to help communities see, understand, and embrace the protection that medical science can offer. That is why, with this campaign, we wanted to shift quiet indifference to a threat in plain sight into awareness that moves people to act. Dentsu Redder was able to transform medical truths into human lan -
guage, and shaped experiences that families could touch, see, and carry with them.”
Dentsu Redder CEO Duy Thong commented, “Takeda trusted us to let the work breathe in culture, not just in clinics. This allowed us to step beyond a traditional health campaign and to shape encounters that felt natural. We found a way to carry urgency with warmth, and to invite families into the conversation on prevention—carrying public health into the rhythms of everyday life.”
“The DeRIGHT-V 1.0 campaign” represents a gamechanging approach in pharmaceutical advertising in Vietnam, blending creativity, cultural resonance, and public health advocacy. It uniquely combined:
n Cross-sector partnerships (e.g., Saigon Zoo) to reach families in trusted, everyday spaces.
n Powerful symbolic storytelling (“Dice of Dengue”) that turned an abstract health threat into an urgent and relatable call to action.
n O2O engagement (online to offline), ensuring nationwide reach while driving onthe-ground vaccination.
looks new and that it’s not personalized. Also avoid regifting to someone in the same social circle as the person who originally gave it to you.
n Gift wrapping is almost universal—with a few finer points GIFT wrapping is an art and widely acceptable, but if you are giving it to other cultures there are some points to look after. Purple, for example, can be viewed as unlucky in Italy. In some East Asian cultures, blue, white and black wrapping can remind people of funerals. Red is a lways a good bet.
n In some cultures, gift refusal is customary IN China, Singapore, Taiwan, south Korea, and Japan, it’s considered polite to refuse a gift.
By blending symbolic storytelling with on-ground activations and trusted partnerships, “The DeRIGHT-V 1.0 campaign” moved dengue from background awareness into urgent cultural conversation, setting a new benchmark for how pharmaceutical brands can use creativity to drive both education and action.
n A VIETNAMESE NGO LETS BRICKS SPEAK LOUDER THAN WORDS
HO CHI MINH, VIETNAM—Can a brick say more than an ad? Anh Chi Em (ACE), a social enterprise in Vietnam, thinks so. For ACE, a brick is more than just a piece of clay and mortar: it’s the start of a hopeful journey. Carried, displayed, and passed along, these bricks are rallying support to build the first 21 homes for families in need in Quang Ngai –a small but symbolic beginning toward their larger mission of 1,555 houses. Without loud declarations or flashy campaigns, ACE lets the bricks speak for themselves.
As community-driven initiatives become increasingly media-savvy powered by viral videos, glossy content, and influencer rollouts, ACE has chosen a different path. For over
If a recipient rejects a gift, “you should insist a little bit.”
And that goes both ways—if someone in one of these countries offers you a gift, offer a soft refusal before accepting.
n At the office, exchange privately or bring enough to share
TO avoid hurt feelings, Lloyd suggests to exchange your gifts privately away from co-workers you’re not bringing gifts for, ideally doing so outside the work environment. Alternatively, you could bring something for the whole office, like freshly baked cookies, specialty candy or fun pens.
n Cards/gifts after January 1 are fine WHILE holiday cards and gifts are largely associated with
a decade, the NGO has quietly supported rural communities in Vietnam with clean water, disaster relief, and school tuition. Without fanfare. Without a comms team.
But this year, ACE launched its most ambitious mission yet: raising funds to build the first 21 permanent homes in 2026— the starting point of a much larger goal to construct 1,555 houses for families in need, all while staying true to its handson, low-profile identity.
Their funding project, called The Brick of Will, begins with a simple yet powerful question: What can a single brick do? To ACE, the answer is profound.
A brick symbolizes belief that small, deliberate actions, when multiplied, can lay the foundation for real change.
And so, the bricks hit the streets. Team members jog with “Action Bricks” in hand, sparking curiosity from passersby.
At construction sites, school gates, and neighborhood corners, “Hope Bricks” appear, urging people to help raise the first 21 homes. In restaurants, gyms, and schools—everyday spaces where socially minded people gather—“Amplifier Bricks” quietly carry the message further.
Each brick leads back to a dedi -
Christmas, even etiquette experts at Emily Post Institute note that cards can be sent a couple of weeks into the new year. This is especially since Christmas is a long celebration for us.
PR Matters is a roundtable column by members of the local chapter of the United Kingdombased International Public Relations Association (IPRA), the world’s premier association for senior professionals around the world. Millie Dizon, the Senior Vice President for Marketing and Communications of SM, is the former local chair.
We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.
cated microsite, where donations are tracked and progress is updated in real time.
“We believe that instead of talking about kindness, we should practice it and let that speak louder than any campaign,” ACE Founder Colin Dixon said. “A brick is nothing on its own. But once you act with it, people notice and ask questions. And that’s when the story begins to spread.” The campaign has captured attention not through staged drama but through sincerity. Within just one week, donations rose by 126 percent, and major brands such as Audi Vietnam joined the effort by placing the brick at its flagship showroom.
“We’re not trying to manufacture emotion,” Happiness Saigon CEO of creative partner Alan Cerutti added. “We’re simply creating space for a genuine story to be seen and felt.”
At its core, each ACE’s brick is not just about building houses. It’s a mindset: action over rhetoric, persistence over polish. For ACE, change starts when someone rolls up their sleeves and does the work.
If you believe small acts can build big change, start here with one brick: https://bricks.anhchiemvn.org/en
SBy Aldrin Quinto
AKHIR, Bahrain—With victory in the Asian Youth Games, Zeth Gabriel Bueno found a renewed sense of purpose.
The 15-year-old Bueno was one of three muay performers who delivered gold in a spectacular Sunday show for the Philippines at the Exhibition World Bahrain (EWB), helping sustain the country’s drive in the 45-nation meet.
Under the bright lights of the main hall of the EWB, Bueno impressed the judges and earned a 9.17 average for the gold in the boys’ 14–15 wai kru final.
Thailand’s Daonuea Phuangmali scored 9.0 to take silver, while Malaysia’s Jaethan Jonathan Quan earned 8.53 for bronze.
Muay’s contributions hiked the Philippine team’s gold medal haul to six
The result helped refocus 15-year-old Bueno, who admitted getting distracted by other interests—video games among them—in recent months, which kept him from fully dedicating his time to wushu.
“I admit I’m inconsistent in training, and my parents scold me when I don’t train regularly,” said Bueno, a 10th grader at Plaridel Integrated National High School.
Bueno, whose father makes purple yam delicacy and his mother a housewife in Nagcarlan, Laguna, dreams of becoming a seafarer but said he is open to all possibilities, including focusing on the sport and vying for a spot in the national team in the future.
Although already three years in the sport, Bueno says he hasn’t been fully dedicated (change this fully dedicated) to training, but vows to do much better now that he has learned he has what it takes on the international stage.
“I will give my best if I make it to the national team,” he said.
Lyle Anie Ngina also came through with an impressive individual display in wai kru, while Jan Brix Ramiscal and Tyron Jamborillo delivered the third gold medal. Ngina got 9.0 points to top the girls’ wai kru 14 to 15.
Malaysia’s Auryelle Xzandra Bobby earned silver with a score of 8.8, while Thailand’s Kittima Yotsombat scored 8.6 for bronze.
Bahrain gold means much more for AYG winner Bueno
Sports BusinessMirror
Mission accomplished for Tabuena
By Dino Datu
by Bingo Plus in dominant fashion.
Even with major champions and Asia’s best in the field, Tabuena not only held his nerve, he showed the way.
With rounds of 69-65-65-65, the golf phenom played a fairytale week, at his home course, in front of home fans with local golf enthusiasts coming in droves, packing Sta. Elena Golf Club’s fairways from the opening tee shot on day one, until Miguel dropped the final putt on day four. The Philippines has not hosted an international golf tournament of this magnitude in at least 30 years, with the last big tournament held way back in 1995. For golf-hungry fans, the sight of the game’s greats like Dustin Johnson, Patrick Reed, Louis Oosthuizen, Charl Schwartzel and many more is a treat not to be missed.
The cherry on top is our very own Tabuena not just matching the biggest stars shot for shot, but actually beating them convincingly. Tabuena’s three-shot victory over his closest pursuers was no walk in the park.
Even before the tournament began, pressure was starting to mount for Miguel—he actually just withdrew from last week’s tournament in Macau due to a neck spasm.
To add to the recent physical issue, not only is our country the host, the venue is his home course—which brings with it immense expectations.
For us regular golfers, playing at home can be a double-edged sword. While familiarity can be an advantage, it can also work against you, especially when there is so much expectation to do well. But the champion that Tabuena is, he took the challenge head on.
Playing in the marquee group with Dustin Johnson and Louis Oosthuizen in the first two rounds, Tabuena held his nerve shooting a good opening 69 and followed it up with a 65—that brought him close to the lead after the halfway cut.
Another 65 on day three placed Tabuena on top of the leaderboard, alongside Thai Sarit Suwannarut and China’s Sampson Zheng.
While it was pretty close and pressure-packed throughout the final round, Tabuena distanced himself early with birdies on Nos. 2 and 3.
A lone bogey on the seventh temporarily derailed Tabuena before he came back on the very next hole, the par 5 eighth, which he eagled—it was a hole he failed to take advantage of in the previous three rounds. But on the final day, when it mattered the most, Tabuena holed a delicate chip from off the green for an eagle.
As his closest pursuers began to make mistakes in the back nine,
Tabuena kept his foot on the pedal, making birdies on Nos. 11, 13, 15 and 16, virtually sealing the deal with two holes remaining.
An errant drive on the 72nd hole didn’t matter as Miguel played out to the fairway and stuck his approach to around four feet.
In front of adoring home fans, and with the hopes of an entire golfing nation on his shoulders, Tabuena holed his final putt for the win.
In the end, Tabuena finished three clear of Kasuki Higa and Yosuke Asaji of Japan and four ahead of his co-leaders Sarit Suwannarut of Thailand and Sampson Zheng of China. With the Filipino golf community raring for big tournaments, the International Series Philippines couldn’t have ended any better—huge crowds, happy sponsors and a successful tournament won by our own golfing hero. Just perfection.
Ramiscal and Jamborillo got a score of 9.20 for the gold as the United Arab Emirates’ Yousef Rakan and Aziz Alhammadi earned silver with an 8.30 and Malaysia’s Bethany Yun Yunn Lai and Jaethan Jonathan Quan scored 8.27 for bronze. It was a mix of elation and anguish for Ramiscal, who got edged out by Thailand’s Pimpichien Chaiwan for the gold medal in boys’ 16-17 final by countback after both ended up with a 9.23 average.
One of the five judges scored Ramiscal 91 while Chaiwan’s lowest score was 92.
Iraq’s Sajjad Hamzah Ali Rabeeh bagged the bronze with a score of 8.47.
Jasmine Dagame got 8.93 points in the girls’ 16-17 final, good for silver, as Thailand’s Rungthipwa Koakaw topped the event with a 9.17 score.
Malaysia’s Ariesya Dania Binti Abdul Latip bagged the bronze medal with her 8.63 points. Pi Durden Wangkay, meanwhile, showed determination far beyond his years by turning heartbreak into triumph and adding to the Philippines’ gold medal haul in the games.
The 16-year-old Wangkay stormed to victory in the 200 meters at the Asian Youth Games late Saturday at Bahrain National Stadium, clinching the Philippines’ third gold medal of the meet just a day after a heartbreaking loss.
“I wasn’t winning in the 100 and that made me sad,” said Wangkay, who wound up fifth in the century dash. “But I changed my mindset, imagining that I was competing in a local race.” Wangkay was among the leaders as the pack came off the turn. He surged ahead with 40 meters to go, and the small Filipino crowd erupted as he crossed the finish line in 21.76 seconds.
Chu Chao-Feng of Chinese Taipei bagged silver in 21.90 and Kim Sunwoo of South Korea clocked 21.93 for the bronze.
The Philippine celebration continued as Naomi Cesar bagged the silver medal in the girls’ 800-m run in two minutes and 8.69 seconds.
China’s Song Jinping won the event in 2:07.84, while Indonesia’s Gesndis Aulia Syafitri earned the bronze in 2:24.98.
AFEW weeks ago, in a column I wrote, I postulated that it was ambitious for Liverpool to bring in so many new signings to this squad this year while even prematurely letting go of certain players such as Luis Diaz and Darwin Nunez.
Bringing in new faces to a squad that grew up together and won multiple championships is a tall order.
For one, they do not know the culture of the club. They do not know the expectations of wearing the Liverpool colors. They probably know of it, but they have not breathed it.
quee players who will help the team contend for a title. It backfired.
And second, they did not go on that journey from losing to the top four and eventually, champions. There’s a bond between players. They know what it is like.
The late wins in their first few matches could have gone either way. It was easy to spot that there was a chemistry problem aside from the obvious leaky defense. And now they are paying for it.
To make things worse, their head coach, Arne Slot, is too stubborn to change. Five losses in their last six fixtures tells you there is something wrong. Heck, three consecutive losses should ring alarm bells already.
When Liverpool were defending champions heading into the 2020-21 season, they also fell off the top four and had to fight for a Champions League spot.
The difference that campaign was they lost a lot of players to injury forcing then head coach Jurgen Klopp to change his starting unit every other game.
This year, once more coming in as defending champions, they lost a lot of players to other squads. That is massive.
As I previously said, it reminded me of the Chicago Bulls’ Last Dance of 1997-98 when they lost a lot of key players who either opted out or were traded away. Bulls’ management were confident they could sign a lot of mar-
If management treated Michael Jordan, Scottie Pippen, Dennis Rodman, as well as multi-titled head coach Phil Jackson that way, how much more so when they have not won anything?
Twenty-seven years later, they still have to return to the National Basketball Association Finals. That’s more than a generation; a generation who only knows LeBron James.
I feel Liverpool gambled to fast track the process, and now, they are paying for it.
Theoretically, they are still in the hunt to defend their title. But really… that’s tough.
Something has to give. Major changes need to happen or else this will be a most embarrassing season considering that they have spent to acquire players and who they let go prematurely.
As it is, the fan base is turning against Arne Slot. Can I blame them? No.
But I seem to recall this fan base as also calling for Jurgen to be sent packing.
Nottingham Forest didn’t wait to offload Ange Postecoglou five games into the season after some spectacular results last year. There is so much to gain and everything to lose.
It is gut check time now for Arne Slot and Liverpool. A loss this week to Crystal Palace could make things worse.
