MARKET jitters over the government’s infrastructure spending controversy and expectations of monetary easing by the Bangko Sentral ng Pilipinas (BSP) have weighed on the peso, which breached the P59 level on Tuesday.
In a statement, the BSP said the recent peso weakness likely mirrors market concerns over a possible slowdown in economic growth— partly linked to the infrastructure spending controversy and expectations of a rate cut by the BSP.
The peso is now at its weakest in more than 10 months, and it
matches its lowest level in over three years, since September 2022, when the exchange rate first hit P59 per dollar. This comes after the peso traded at its highest at P59.2 and at its lowest at P58.9 on Thursday. It opened at P58.9 to the greenback and closed at P59.13, based on the data from the Bankers Association of the Philippines.
Speculation ‘a big part’
BDO Unibank, Inc. Executive Vice President and Head of Institutional Banking Charles M. Rodriguez told BusinessMirror that the recent weakening of the peso is speculative—that is, when traders and investors are betting on short-term
movements for the possibility of substantial gains.
“There’s some fundamental concerns, but I think a big part of it is speculative also,” Rodriguez said.
However, the BSP, which has over $100 billion in reserves, apparently prefers to “let market forces run it,” Rodriguez said.
“Maybe the BSP is not really that bothered because it could have easily intervened if it wanted to, to stop the peso from weakening further,” he added.
BSP explains tack MEANWHILE , the BSP said in the statement that it allows the exchange rate to be determined by market forces.
“We continue to maintain robust reserves. When we do participate in the market, it is largely to dampen inflationary swings in the exchange rate over time rather than to prevent day-to-day volatility,” the central bank said. The weakness of the peso could be tempered by the inflows of remittances from overseas Filipinos by the end of the year, Rodriguez said, but there are also global headwinds adding pressure. For his part, BDO Capital & Investment Corporation President Eduardo Francisco told BusinessMirror that the recent
KUALALUMPUR—
Likening the chairmanship of the 2026 Association of Southeast Asian Nations (ASEAN) Summit to captaining a ship in turbulent waters, President Ferdinand Marcos Jr. has vowed to steer the regional bloc to peace through pragmatism and dialogue.
By John Eiron R. Francisco
cluding the Philippine Fault in Nueva Ecija, which could trigger a magnitude 7.9 quake, stronger than the 7.2 magnitude event expected from the West Valley Fault. The Negros Trench, he added, spans roughly 400 kilometers and has the potential to generate an 8.2 magnitude earthquake. Bacolcol, meanwhile, cautioned that if an 8.2-magnitude earthquake occurs and is shallow in origin, it could generate a tsunami that may impact the western coastlines of Negros and Panay, and possibly extend to Palawan and Zamboanga. He urged residents in coastal areas to recognize the natural warning signs of a tsunami, as it can strike within minutes fol-
Visayas leg in this city. He cited several major fault lines, in-
By Malou Talosig-Bartolome
FRESH from the ASEAN Summit in Kuala Lumpur, President Ferdinand R. Marcos Jr. heads to South Korea for the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting, set in Busan and Gongju from October 30 to November 2. The summit unfolds amid rising trade tensions, the rise of minilateral alliances, and deepening geopolitical divides—challenges that have strained APEC’s role as a consensus-driven economic forum. While APEC remains a key venue for dialogue on innovation, trade, and inclusive growth, its
ability to deliver unified action is increasingly under pressure. Who’s at the table: APEC’s 21 Member Economies APEC brings together 21 diverse economies: Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States, and Viet Nam. These members span vastly different political systems, strategic interests, and development stages—making consensus-building
By Samuel P. Medenilla
On Tuesday, Malaysian Prime Minister Anwar Ibrahim formally handed the gavel, which symbolized the ASEAN chairmanship, to Marcos after the closing ceremony of the 47th ASEAN Summit and re
lated meetings, and the turnover
emony for ASEAN chairmanship at
Palay floor price impact…
Agriculture Assistant Secretary Arnel de Mesa said farmers could capitalize on the government’s provision of rice processing systems (RPS) equipped with rice mills and dryers.
The DA had said that the local rice sector loses up to 16 percent of potential yield due to postharvest inefficiencies.
“Among the suggestions was to tie up the purchase of rice through EO 101 to the RPS managed by farmers. With this, they’ll be selling rice instead of palay,” De Mesa recently told reporters.
“They will earn from the additional profit margin from milling paddy to rice, which is the main source of income for traders,” he added.
The RPS is implemented by the Philippine Center for Postharvest Development and Mechanization (PhilMech) through the Rice Competitiveness Enhancement Fund (RCEF) mechanization program.
The DA has earmarked P3.3 billion to build an additional 300 drying systems nationwide by 2028 to reduce postharvest losses.
Under the first phase of RCEF, the government has established 151 RPS nationwide, 145 of which were completed under the current administration.
Currently, the DA said 118 RPS have been inaugurated, with the delivery, installation, and commissioning of the remaining 27 expected to be completed by yearend. Ada Pelonia
Manufacturers won’t hike prices till year-end–DTI
By Andrea E. San Juan @andreasanjuan
ALLmanufacturers of basic necessities and prime commodities have agreed to hold prices until the end of the year, according to Trade and Industry Secretary Cristina A. Roque.
“There is no price increase for Basic Necessities and Prime commodities until the end of the year. All manufacturers have agreed to this,” Roque said in a Viber message on Tuesday.
In a statement on Tuesday, the Department of Trade and Industry (DTI) called upon manufacturers’ help to maintain the current prices at least until the end of the year.
To ensure price stability, the Trade department said it “intensifies” regular market monitoring and enforce -
Continued from A1
ment activities nationwide through its Fair Trade Enforcement Bureau and regional and provincial offices to prevent overpricing, profiteering, and supply disruptions.
The country’s trade chief made the pronouncement after President Ferdinand R. Marcos Jr. ordered the Department of Trade and Industry (DTI) to keep the prices of essential goods stable particularly during the holiday season when “demand traditionally increases.”
At a press briefing on Monday,
especially difficult on issues with geopolitical undertones.
Claire Castro, Undersecretary of Presidential Communications Office, said the president has ordered the Department of Trade and Industry (DTI) to ensure that there will be no movement in the prices of basic goods during the holiday season.
“Following President Ferdinand Marcos Jr’s directive not to hike prices of basic goods before the holiday season, the DTI has announced there won’t be any price increase on basic and prime commodities until the end of the Christmas season,” Castro said, speaking partly in Filipino.
According to Castro, Marcos wanted DTI to ensure strict monitoring and implementation of maximum suggested retail price for imported rice especially for prices of food.
At the Federation of Philippine Industries, Inc.’s (FPI) Business Summit held early this month, Roque said: “We hope to have a no price increase for basic necessities
Geopolitics and Trade Frictions
THE summit takes place as USChina trade tensions intensify.
President Donald Trump has threatened 100 percent tariffs on Chinese goods, while China has expanded export controls on strategic materials.
Although Trump is expected to meet President Xi Jinping in South Korea—his first meeting with Xi in his second term—he reportedly plans to skip the APEC summit entirely.
According to APEC’s October 2025 Regional Trends Analysis:
• GDP growth across APEC is projected to slow from 3.3 percent in 2025 to 3.0 percent in 2026 Trade volume growth is expected to drop sharply from 4.2 percent to 1.1 percent • R ising public debt is eroding fiscal buffers, limiting governments’ ability to respond to future shocks
Mini-lateralism: APEC’s multilateral challenge SMALLER , purpose-driven coalitions—such as the Quad (US, Japan, India, Australia) and AUKUS (Australia, UK, US)—are gaining traction. These minilateral groups offer agility and strategic focus but risk sidelining APEC’s broader, inclusive mandate.
A recent paper from the Human Development Forum Foundation notes that minilateralism often emerges from shared security concerns, tech cooperation, or maritime coordination—areas where APEC’s economic-only framework may fall short.
This fragmentation highlights the urgent need for APEC to
and prime commodities so for the big industries, we hope that there won’t be any clamor for salary increase.”
Roque said she is “starting to talk to a lot of those that are in the business of basic necessities and prime commodities.”
“We haven’t had any price increase for more than a year, which is actually...it’s never happened before,” the country’s Trade chief said, adding that this may be due to the “good communication” between the DTI and the manufacturing sector in the country.
If the agency decides to clear increases in prices of basic necessities and prime commodities, “Definitely a next question will be the salary increase,” she pointed out.
Roque said during the summit early this month that the country “cannot afford any more salary increase because when the salary increases, then everything goes up.”
evolve and reaffirm its relevance in a shifting regional landscape.
President Marcos will champion the Philippines’ ambition to become an “artificial intelligence-powered nation by 2028,” aligning with regional efforts to promote safe, transparent, and innovation-friendly AI deployment.
“This will help us take an active part in shaping how AI is used across the region,” said DFA Spokesperson Assistant Secretary Angelica Escalona.
Marcos is also set to deliver a keynote at the APEC CEO Summit, focusing on emerging technologies and regional economic integration. He will meet with Korean business leaders in key sectors—semiconductors, manufacturing, and advanced tech—to attract new investments.
Community Engagement and Closing Ceremonies
THE President will meet with the Filipino community in Busan, home to over 70,000 Filipinos, including 42,000 overseas workers. His visit will conclude with a wreath-laying ceremony at the United Nations Memorial Cemetery, honoring Filipino soldiers who served in the Korean War.
Joining him are:
Secretary of Foreign Affairs
Ma. Theresa Lazaro
Secretary of Trade and Industry Ma. Cristina AldeguerRoque
• Secretary of Migrant Workers
Hans Leo Cacdac
• Acting Secretary of the Presidential Communications Office Dave Gomez
Special Assistant to the President for Investment and Economic Affairs Frederick Go
the Traders Hotel in Kuala Lumpur, Malaysia.
The Philippines last chaired the ASEAN Summit in 2017.
Marcos lauded Anwar for successfully chairing the recently concluded three-day 47th ASEAN Summit and vowed to build on its gains.
“We are committed to carrying forward your momentum and to implement on its first year the ASEAN Community Vision 2045 with purpose and resolve,” Marcos said.
“We likewise remain dedicated to facilitating the further integration of Timor-Leste into the ASEAN family,” he added.
Timor-Leste became the 11th member of the ASEAN. For next year, the chief executive announced the theme for the ASEAN Summit in 2026 will be “Navigating Our Future, Together.”
In explaining the reason for such theme, he said ASEAN is like a ship, which needs to be sailed by its members.
Under the Philippines leadership, he said he will use the ASEAN Summit as a forum to continue to fortify the regional bloc’s “peace and security anchors, strengthen prosperity corridors, and advance people empowerment.”
The President said the country chairmanship of ASEAN comes at a time when the regional bloc is faced with promising and complex moments.
Mynamar still has an ongoing civil war, while the global community is eagerly watching the recent peace deal between Cambodia and Thailand.
Vietnam and the Philippines are also cautiously trying to fend off Chinese vessels from their maritime territories as Beijing continues to claim almost the entire South China Sea even after it was invalidated by the 2016 Arbitral ruling.
With the Philippines at helm of ASEAN, Marcos has vowed that ASEAN-led mechanisms and processes remain central; he vowed as well to build on the gains of previous ASEAN Summits.
The chair of the ASEAN Summit will have the power to determine the priority agendas in the said international forum.
Marcos earlier said he intends to make significant gains next year in the pending Declaration on the Code of Conduct of Parties in the South China Sea (DOC), which he said will help in the peaceful resolution of maritime disputes.
“For though the tides of change may be unpredictable, our compass must remain constant, anchored in cooperation. It must be oriented toward maintaining a stable and secure region, built upon a shared vision of an open, inclusive, transparent, and rules-based ASEAN regional architecture,” Marcos said.
“Our goal is not to diverge from past chairships, but to build upon the collective work of our predecessors,” he added.
lowing a major quake. According to Bacolcol, the key signs of an approaching tsunami include strong shaking
that makes it hard to stand, a sudden drop in sea level, and a roaring sound from the ocean. Even one of these, he said, is enough to signal an impending tsunami. He also warned about the Philippine Trench, which consists of six segments and could produce an 8.1 magnitude quake capable of generating tsunami waves as high as 9 to 10 meters along the country’s eastern seaboard, based on Phivolcs modeling.
“So again, there are larger threats in other parts of the country. The world doesn’t revolve around the West Valley Fault,” he emphasized.
“That’s why all Filipinos should be prepared, because a major event can occur not only in Metro Manila,” he added.
Science Secretary Renato Solidum Jr. clarified that
these are scientific scenarios, not predictions, meant to strengthen preparedness and awareness.
Solidum said that while the West Valley Fault poses the greatest risk because of Metro Manila’s dense population and infrastructure, Phivolcs has also conducted similar studies in other major cities nationwide.
He explained that the agency first focused on the capital region between 2002 and 2004 but has since produced hazard maps and earthquake models tailored to different local conditions across the country.
These models, now used in quarterly nationwide drills, help cities such as Iloilo, Cebu, and Negros prepare for hazards unique to their respective areas.
The Philippines remains one of the most seismically active countries in the world, recording an average of 30 earthquakes daily. Over the past 400 years, the country has experienced at least 100 destructive earthquakes.
Lawmaker joins call for GSIS probe
By Jovee Marie N. dela Cruz @joveemarie
HOUSE of Representa -
tives Deputy Minority Leader
Leila M. de Lima
has joined the call for a congressional inquiry into the alleged risky and questionable investment decisions of the Government Service Insurance System (GSIS), which reportedly led to P8.8 billion in losses.
Through House Resolution 414, de Lima urged the House to investigate the matter, stressing that the funds managed by the GSIS represent the hardearned savings of government employees.
“This is the hard-earned money
of Filipinos who have dedicated their productive years to serving the government and our people.
Isn’t it a disservice to past, current, and future government employees if their money is being placed in risky and questionable investments that could jeopardize their benefits?” de Lima, the nominee to the House of the party-list group Mamamayang Liberal, said.
She said many government workers are already anxious about whether the fund will be sufficient to sustain their retirement, and reports of dubious transactions only deepen those fears.
The resolution cited a letter dated October 14, 2025, signed
See “GSIS,” A5
PHL prepares workforce for nuke energy program
By Lorenz S. Marasigan @lorenzmarasigan
THE Philippines is mobilizing its scientific and engineering workforce to support an ambitious nuclear energy development program aimed at bringing the country’s first operational nuclear power plant online by 2032. The Department of Energy (DOE), through its Nuclear Energy Program-Inter-Agency Committee (NEP-IAC), conducted the third Nuclear Energy Awareness
Training (NEAT) from October 27 to October 29, bringing together over 150 professionals from universities, private companies, civil society organizations, and government agencies.
“This undertaking provides a valuable opportunity for Filipino scientists, engineers, and energy professionals to be at the forefront of the country’s transition to a safe, sustainable, and clean energy future,” said Director Patrick T. Aquino of the Department of Energy.
See “Nuke,” A5
‘Economy drifts out of govt’s targets’
By Rizal Raoul Reyes @brownindio
DESPITE multiple revisions to its economic targets, the Philippine economy continues to drift out of the government’s desired range.
This is the gist of the paper “DLSU Report of the Philippine Economy October 2025” authored by professors Jesus Felipe, Mariel Monica Sauler, Gerome Vedeja and Clarence Gabriel Fernandez of De La Salle University-Carlos L. Tiu School of Economics.
“Our projections indicate a
moderate expansion of 5.3 percent for 2025, a slight downward tweak from the September forecast of 5.35 percent and notably below the official updated target band of 5.5-6.5 percent,” the authors said.
The study said the trajectory suggests a bumpy ride ahead, with growth anticipated to ease to 4.6
percent in Q3 2025 before a Q4 rebound to 5.65 percent, while the medium-term outlook for 2026 and 2027 also points to growth— forecasted at 5.6 percent and 5.8 percent, respectively—that will stubbornly remain beneath the government’s revised 6-7 percent target.
The authors said the country faces a critical juncture. They pointed out that sustained, transformative growth is necessary to break free from this category and tackle the deep-seated structural issues that threaten its long-term stability and prosperity.
Moreover, the paper indicated that the government’s goal of achieving upper-middle income status—crossing the threshold
Gatchalian pushes ‘granular’ budget to kill corruption sources
By Butch Fernandez @butchfBM
SENATOR Sherwin Gatchalian is pushing a “granural” tack for highly detailed line items in the proposed 2026 national budget, arguing that a high level of granularity would remove any room for discretion that could potentially become an opportunity for corruption.
“Let’s take this as a wake-up call to reform our budget nomenclature, process, and implementation,” said Gatchalian, chairman of the Senate Committee on
Finance, during the continuation of the DPWH budget hearing.
Gatchalian was referring to proposed projects such as farm-to-roads (FMR) that do not have specific details, such as station number, coordinates, and approximate length, to distinguish them from other infrastructure projects.
Emphasizing the need for a high level of granularity, Gatchalian pointed out that a proposed road project for 2026 bearing the same title as a road project that was already funded under the 2025 budget provides an opening for irregularity.
Dapat pagdating sa budget, wala nang room for discretion. Kapag approved na ang budget, i-implement na lang nang tama.Ganyanangginagawanatinngayon, nilalagyan ng detalye para walang room ang mga corrupt officials na paglaruan ang generic titles,” he emphasized.
[When it comes to the budget, there should be no room for discretion. Once the budget is approved, the project should be closely implemented. That’s what we are doing now, we put details so there is no room for corrupt officials to play around with generic titles].
of a Gross National Income (GNI) per capita of $4,256—has been a consistent policy objective.
Nevertheless, DLSU’s analysis suggests that this milestone, particularly the target date set in the Philippine Development Plan (PDP) for 2028, will likely be attained several years later. “As of current estimates, the country’s income per capita places it squarely in the lower middle-income segment, a significant distance behind regional peers that were once economically similar or even poorer than the Philippines,” they said.
While the country’s Gross Domestic Product (GDP) posted average growth growth—with recent
TA5
See “Economy,” A5
See “Climate change,”
Martires denies ‘midnight appointments’
FBy Joel R. San Juan @jrsanjuan1573
ORMER Ombudsman Samuel Martires has maintained that his appointment of more than 200 individuals to various positions in the agency prior to his retirement was necessary and cannot be considered as “midnight appointments.”
Martires stressed that the ban on midnight appointment under Section 5, Article VII of the 1987 Constitution, does not cover the Office of the Ombudsman since
it is not a political office. The said provision specifically states that: “Two months immediately before the next presidential elections and up to the
end of his term, a President or Acting President shall not make appointments, except temporary appointments to executive positions when continued vacancies therein will prejudice public service or endanger public safety,” Martires said in an interview over radio station dzBB.
“I don’t have midnight appointees because we are not a political office,” Martires stressed.
He added that some of the appointments were in line with his objective to fill-up existing vacancies for plantilla positions while the other appointments were for new positions which were approved by the Department of Budget and Management (DBM).
The former Ombudsman recounted that in August 2024 he
asked the DBM to allow him to hire 60 lawyers following his decision to do away with the fact-finding investigation and merge its unit with the preliminary investigation unit of the agency in order to speed up the resolution of complaints.
The request was approved by the DBM in January 2025 and the hiring for the 60 lawyers was immediately published on the Civil Service Commission’s (CSC) website.
Aside from the 60 new posts, Martires said he also secured DBM approval for hiring of personnel for other plantilla positions in the Ombudsman.
“These 204 positions are from drivers up to the lawyers,” he pointed out.
Martires also stressed that the
Tipo-Tipo attack ‘rido-related’–Army
THE Army’s (PA) 101st Infantry Brigade based in Basilan clarified on Tuesday that the ongoing incident in Tipo-Tipo town is rido-related violence between “local parties,” not a siege as previously reported online.
Brig. Gen. Fredrick Sales, brigade commander, did not identify the individuals and families involved in the atrocities, only mentioning members of the Barangay Peacekeeping Action Team (BpatT) and Moro Islamic Liberation Front (MILF) as the warring groups.
The fighting broke out around 7:00 a.m. Tuesday in barangay Poblacion, Tipo-Tipo, a day after tensions gripped the town.
However, in a joint statement released on Tuesday, the Basilan provincial government, military,
MILF and the Council of Elders stated that the incident is directly linked to the killing of Nadzri Tarahin, an Islamic teacher and village councilor of Baguindan, Tipo-Tipo, on October 21. Sales said the provincial government and peace partners are actively working to de-escalate tensions and restore order.
Reports indicate that Tarahin’s followers are seeking revenge and have allegedly identified those responsible for the barangay official’s death. Tarahin was shot and killed at a bus terminal in barangay Malinis, Lamitan City, Basilan. “The presence of military personnel in the area is part of our mandate to preserve peace, maintain order, and uphold the rule of law,” Sales said in a statement.
“Our forces are closely coordinating with the National Police [PNP], local governments, [LGU] and community leaders to prevent further escalation and ensure the safety of civilians,” he added. He urged everyone to remain calm and continue supporting the peace process, emphasizing that the gains achieved through years of cooperation and dialogue must not be undermined by isolated incidents of violence.
Earlier on Tuesday, the military, police and local leaders, including MILF representatives, signed a joint statement of commitment with the provincial government, reaffirming their “collective resolve to de-escalate the situation, promote dialogue, and ensure the safety and security of
all residents.”
Meanwhile, the PA spokesperson, Col. Louie Dema-ala, confirmed that “an incident occurred earlier today in the municipality of Tipo-Tipo, Basilan.” He said they are still verifying the details of what transpired and coordinating with concerned units on the ground to obtain a complete and accurate report.
“We assure the public that the PA is on top of the situation. Our troops have been deployed to secure the area and ensure the safety of the residents. Close coordination is also being maintained with the local government unit and other security agencies to restore normalcy and address the needs of the affected communities,” Dema-ala added. PNA
Congressman seeks ban on drones at jails, prisons
By Jovee Marie N. dela Cruz @joveemarie
ALAWMAKER is pushing a ban on the operation of drones and other unmanned aerial vehicles
(UAVs) within and near jails and prisons to prevent the smuggling of contraband and other security risks to the detention and penal facilities.
A former senior official of the Department of the Interior and Local Government (DILG), Parañaque Rep. Brian Raymund Yamsuan said an exemption to his proposed rule is when UAVs are used for custodial security purposes and during emergency cases in which the Civil Aviation Authority of the Philippines (Caap) can issue a permit with the consent of jail officials.
He has filed House Bill 4797, or the proposed Drone-Free Jails Act, which aims
to ban the use of UAVs and provide penalties for their illegal use within a 100-meter radius from jail facilities.
“While drones serve legitimate purposes in commerce and recreation and even in checking the progress of government infrastructure projects, they can also be misused and abused to commit crimes.
The passage of this bill will strengthen the security of jail facilities and help keep our communities safe and peaceful,” he said.
“UAVs like drones can be both assets and liabilities depending on their use. Near or inside the vicinity of penal facilities, they can be used to conduct illegal surveillance and bring in contraband like drugs, mobile phones, or even guns. Its authorized use by jail authorities, on the other hand, can help monitor the movement of persons deprived of liberty [PDLs] and help recapture escapees,” Yamsuan added.
He cited an incident two months ago in Batangas where PDLs who escaped from the provincial jail were swiftly tracked and recaptured with the aid of drones equipped with thermal imaging and night vision.
But Yamsuan said officials of the DILG’s Bureau of Jail Management and Penology (BJMP) have also reported seeing drones flying towards jails, possibly to transport contraband or conduct surveillance, which compromises the security and safety of these facilities.
Several government units, such as the cities of Batangas, San Juan, Baguio, Valenzuela, and Mandaluyong, have passed ordinances banning the use of UAVs near or within jails.
“Enacting House Bill 4797 will ensure that these prohibitions stay and are implemented nationwide,” Yamsuan said.
Under HB 4797, “it shall be unlawful for any person to operate an Unmanned Aerial Vehicle
[UAV], such as, but not limited to, drones and other similar aerial vehicles, whether for commercial, hobbyist, or any other purposes, within a one hundred [100] meter radius from jail facilities, except in emergency cases where the CAAP issued a permit to operate with the consent of the jail authority or for custodial security purposes of the Jail Facility.”
T he CAAP is tasked under the bill to periodically update and publish safety regulations and restrictions on drone usage to include the prohibition of drone operations within the vicinity of jails.
If the bill becomes a law, any person found guilty of violating the prohibition will be penalized with fines ranging from P50,000 to P200,000 or imprisonment of one year, or both.
Confiscated drones shall be turned over to the Caap for proper disposal within 15 days upon the termination of the case filed against the violator as provided under the measure.
Lawmaker to Marcos: Align policies with strong stance vs China aggression
ASENIOR lawmaker on Tuesday
urged the Marcos administration to align all its policies with the government’s strong stance against China’s aggressive activities in the West Philippine Sea, following the Chief Executive’s
remarks at the US-Asean (Association of Southeast Asian Nations) Summit in Kuala Lumpur, Malaysia.
Cagayan de Oro City Rep. Rufus Rodriguez commended Marcos for forcefully defending the Philippines’ territorial and economic rights before US and Asean leaders, particularly over sea features that fall within the country’s exclusive economic zone but continue to be claimed by China.
“The President’s statements before US and Asean leaders and the world reflect his strong defense of our country’s economic and security interests in waters and sea features that are legally ours and which China is unabashedly and persistently claiming,” he said.
The Mindanao lawmaker noted that thePresident raised, for the first time, China’s move to declare a so-called “nature reserve” around Bajo de Masinloc, or Scarborough Shoal—an area long used by Filipino fishermen located about 120 miles off Pangasinan and Zambales.
promotion of two personnel to Assistant Ombudsman was based on merit.
He added that the promotion was necessary following the retirement of two assistant Ombudsman.
Martires was responding to the claim of his successor, Ombudsman Jesus Crispin Remulla, that the said appointments may be considered as midnight appointees.
Thus, Remulla ordered the 204 newly-hired and newly-promoted employees to submit their courtesy resignations to show that they are in good faith.
Meanwhile, Assistant Ombudsman and spokesperson Jose Dominic Clavano IV has disclosed that some of the 204 employees have already tendered their courtesy
resignations.
“I am not aware of how many submitted but there’s a good number that have submitted already and have shown their good faith to the Ombudsman regarding their recent appointments or recent promotions,” Clavano said. Clavano also confirmed that there were those who are opposing the order and are gathering support against it.
“The Ombudsman is aware of that. But, again, he is giving another chance to these individuals to file their courtesy resignations as a show of good faith. If they are not hiding anything in terms of procedures in which they were hired or promoted, then there’s really nothing to worry about,” he added.
Emerging modern technologies ‘vital’ for national defense
By Rex Anthony Naval
THE Department of National Defense (DND) on Monday night said emerging modern technologies are vital in beefing up the country’s defense posture and enhancing its maritime domain capabilities.
This was after the DND spearheaded the opening of the first ever Philippine Navy Drone Warfare Summit 2025, which runs from October 27 to 29, 2025 at the Subic Bay Exhibition and Convention Center.
Representing Defense Secretary Gilberto Teodoro, Assistant Secretary for Defense Technology, Research, and Industry Development Augusto Gaite delivered the defense chief’s message which emphasized the importance of leveraging emerging technologies to strengthen the Philippines’ defense posture and enhance maritime domain awareness.
Teodoro underscored the vital role of technology in protecting the nation’s territorial integrity and securing its maritime borders.
“For an archipelagic country like the Philippines, where every island, waterway, and air corridor represents both opportunity and vulnerability, the responsible development and integration of
unmanned systems is no longer optional, it is essential,” the DND chief stressed.
Teodoro also reaffirmed the DND’s commitment to advancing the Self-Reliant Defense Posture (SRDP) as part of a long-term strategy for national resilience and technological independence.
“In times of crisis or conflict, dependence on foreign sources for critical defense equipment can limit our ability to act swiftly and independently,” Teodoro stressed.
“By investing in our own people, research institutions, and industries, we are also investing in our sovereignty,” he added.
The Philippine Navy Drone Warfare Summit 2025 serves as a platform for the exchange of knowledge and best practices on unmanned systems and drone technology.
It brings together defense planners, technology experts, and industry partners to explore the applications of drone systems in intelligence, surveillance, reconnaissance, and maritime operations.
The event aligns with the DND’s ongoing efforts under the AFP Modernization Program, particularly in the areas of research and development, technology integration, and defense industry collaboration.
NHA releases ₧39-M housing aid for Ilocos, Cebu disaster victims
By Bless Aubrey Ogerio
“The national leadership, including the Cabinet, should support the President’s energetic defense of our national interest in the West Philippine Sea. We should not pursue policies that will undermine such a stance, like reintroducing e-visas for Chinese tourists,” he added.
The lawmaker called on the Chief Executive to scrap the e-visa reintroduction plan.
“After criticizing the Chinese in the Asean, it will not look good before our neighbors and the world that we want to entice Chinese nationals to visit our country by making it convenient for them to secure tourist visas,” he stressed.
The President told the US-Asean Summit on Sunday, “On the South China Sea, it is regrettable that incidents continue to occur in the West Philippine Sea that have put the lives of Philippine personnel and the safety of our vessels and aircraft at risk.”
NEARLY 3,000 families affected by recent natural disasters in Ilocos Norte and Cebu have received housing assistance from the National Housing Authority (NHA).
Based on the agency’s October 26 tally, P12.97 million in cash aid was distributed to families in Ilocos Norte who were displaced by Typhoon Nando, while P26.11 million went to residents of Cebu Province following the magnitude 6.9 earthquake that struck on September 30.
In Ilocos Norte, 1,226 families from 12 cities and towns in the province’s First Legislative District received financial support through the NHA’s Emergency Housing Assistance Program (Ehap) on October 16 and 20.
Meanwhile, in Cebu, 1,627 families were granted aid, including 1,085 from San Remigio, 416 from Daanbantayan whose houses were either totally or partially damaged, and 126 from Sogod who suffered partial structural damage. The distribution was based on verified masterlists and damage assessments submitted by local government units to determine eligible beneficiaries.
Typhoon Nando battered northern Luzon in September, bringing heavy rains and widespread flooding, while the late-September earthquake in Cebu damaged homes and infrastructure across several towns.
The Ehap is among the NHA’s continuing efforts to help disaster-affected households recover by providing immediate financial support for the repair or reconstruction of damaged homes.
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annual rates hovering around 5.5 percent—the authors said these figures often fall below the government’s own targets, which are consistently set at a higher range (e.g., 6.5 percent to 8.0 percent annually). “DLSU’s models project a more moderate average growth rate for the coming years, closer to 5.5 percent to 6.0 percent, suggesting that the current growth trajectory, while positive, is insufficient to rapidly propel the nation into a higher income bracket,” they said.
The core challenge, as the professors stressed, depends on the nation’s productivity-employment structure. “A significant portion of the Filipino workforce is still employed in sectors of very low productivity, most notably agriculture and certain low-value services,” the authors said.
Moreover, approximately a quarter of all workers are in agriculture, leading to suppressed wages and low income per capita. The professors said the structure contrasts sharply with the path taken by now higher-income economies,
by a group of current and former GSIS Board of Trustees members, calling for the resignation of GSIS President and General Manager Jose Arnulfo Veloso. The letter alleged that Veloso’s investment decisions resulted in multi-billion peso losses. Among the questionable transactions mentioned were investments involving Monde Nissin Corporation, Nickel Asia Corporation, Bloomberry Resorts Corporation,
The initiative comes on the heels of the recent passage of Republic Act 12305, known as the PhilAtom Law, which provides the legal framework for the country’s nuclear energy ambitions.
Aquino emphasized that the Philippines would pursue its nuclear program through enhanced international collaboration, com -
The agency attached to the Department of Agriculture (DA) said the assessment showed that sardine fisheries in Cabadbaran City face high exposure to storm surges and sea level rise, exacerbated by low income and inadequate fisheries support that hamper adaptive capacity.
It added that anchovy fisheries in Sibutad, Zamboanga del Norte were found to be at risk owing to habitat degradation, heavy livelihood dependence, and weak adaptation measures.
The agency said these findings underscore the need for targeted strategies to strengthen the resilience of local fishing communities.
“Through the CRVA, we aim to generate science-based data and insights that will guide our interventions, helping our fisherfolk adapt, build resilience, and secure their future in the face of changing climate,” NFRDI Executive Director Maria Theresa Mutia said.
To support the assessment, the agency said it conducted a series of focus group discussions (FGDs) and cost-benefit analysis (CBA) surveys in
where a shift towards high-value manufacturing and sophisticated services drove sustainable wage increases.
The DLSU economists emphasized that the current economic policy framework needs to shift its focus squarely onto increasing productivity, manufacturing, and exporting. Without a robust and competitive manufacturing sector, they said the economy will always be challenged to create enough high-quality, high-wage jobs. The slow growth in capital formation and industrial output, as noted in recent reports (with industrial output growth projected to decline significantly), further highlights the lack of a strong, broad-based industrialization effort.
In the long run, the authors said the Philippines will face several internal and external challenges that could derail its progress and keep it locked in its current status. They said the anticipated decline in industrial sector output growth for the next couple of years is a major red flag. The authors also pointed out that industrial growth is crucial for both job creation and technological transfer,
DigiPlus Interactive Corp., Alternergy Holdings Corporation, Figaro Culinary Group Inc., Private Equity Investments, Udenna Land Inc., 8990 Housing Development Corporation, and the acquisition of The Centrium.
HR 414 also noted reports that certain GSIS transactions were allegedly split into smaller tranches to bypass board scrutiny for deals exceeding P1.5 billion. There were also claims that Veloso sidestepped internal governance rules and falsified records to hide irregular transactions.
De Lima emphasized the need
prehensive policy development, and continuous talent cultivation, all while adhering to International Atomic Energy Agency standards and guidelines.
Under the Philippine Energy Plan 2023-2050, the country aims to introduce at least 1,200 megawatts (MW) of nuclear capacity by 2032. That target would double to 2,400 MW by 2035 and reach 4,800 MW by 2050. According to Aquino, the threeday training program covered essential topics including nuclear
Sibutad on October 14 to 17 and in Cabadbaran City on October 21 to 24, 2025. The FGDs covered major local commodities, including milkfish, tilapia, and sardines.
The NFRDI said Sibutad’s participants also identified anchovy and several seashell species including plicate conch (aninikad) and blood clam (litob), as key local resources, alongside rabbitfish, eel (balakase), abalone, and seaweeds.
In Cabadbaran City, it added that sardines emerged as a priority commodity, together with red snapper (maya-maya), flying fish (iliw), skipjack tuna, squid, grouper, mangrove crab, and tiger prawn.
Implemented under the Philippine Fisheries and Coastal Resiliency (Fishcore) project, the NFRDIA said the CRVA aims to strengthen the adaptive capacity of the country’s fisheries sector.
By engaging local communities in FMAs 6 and 9, the agency said the initiative reinforces its commitment to supporting fisherfolk livelihoods and promoting the sustainable use of marine resources through researchbased, climate-responsive strategies. Ada Pelonia
Philippine sovereignty but also the traditional fishing rights of our people.”
and its slowdown will derail efforts to structurally transform the economy. “While the service sector, particularly in areas like Business Process Outsourcing [BPO], continues to accelerate and offset some of this weakness, relying too heavily on one sector can be a source of long-term vulnerability,” they said.
According to the economics professors, forecasts of a decline in capital growth are particularly concerning. To keep the economy running on high gear, the authors said there must be sustained capital investment because it is the engine of future productivity and capacity expansion. “A weakening appetite or capacity for large-scale investment—both public and private—will put a drag on growth potential,” they said.
Notwithstanding that the reports note a stable macroeconomic situation with declining unemployment and manageable inflation, long-term fiscal health remains a challenge. They said the government’s goal to reduce the national debt and fiscal deficit as a share of GDP requires disciplined spending and robust revenue generation.
for transparency and accountability in managing public funds.
“We need to delve into these serious accusations, as well as the transactions made by the GSIS, to determine whether these comply with the fundamental requirements of liquidity, safety, and yield necessary to maintain the actuarial solvency of the fund. We must assess if these actions were carried out in the proper exercise of the agency’s fiduciary duties and within the bounds of the law,” de Lima said.
“These are the issues that must be urgently addressed in this probe
power plant siting processes, human resource development, radiation protection, nuclear safety, and the regulatory framework for licensing and operating nuclear installations.
Participants also learned about the health effects of ionizing radiation, nuclear safeguards, and the history of major nuclear accidents.
The discussions highlighted the evaluation process required for nuclear facilities, which must consider environmental impact,
“Furthermore, the persistent problem of low organizational capabilities among local manufacturing firms and bureaucratic friction continues to hinder the ease of doing business and attracting high-quality foreign direct investments,” the authors said.
The authors said it would require a laser-like policy focus on manufacturing competitiveness, agricultural modernization, and human capital development to achieve the benefits of a fullydeveloped economy.
To boost the country’s manufacturing competitiveness, the authors said the government should implement policies to boost the technological and organizational capabilities of local firms to make them competitive in the global export market.
The paper said the country must also invest heavily in the modernization of agricultural productivity to free up labor for higher-wage industrial and service jobs, while securing food supply.
The study pointed out that the workforce must be equipped with the skills demanded by a modern, industrial, and high-value service economy.
to genuinely observe prudence and ensure checks and balances in investing and safeguarding public funds,” the Bicolano lawmaker added.
Earlier, the Makabayan bloc filed House Resolution 415, urging the House of Representatives to launch an investigation into the alleged anomalous and high-risk investments made by the GSIS, which they said may have already resulted in billions of pesos in losses and exposed the social insurance fund of government employees and pensioners to serious financial risks.
risks from natural or human-induced hazards, and proximity to existing infrastructure.
“We have a vast pool of scientists, engineers, safety experts, project officers, and other professionals who can play a pivotal role in advancing one of the most ambitious undertakings of our generation,” Aquino said, underscoring the government’s commitment to developing a qualified workforce for what he described as the pursuit of “a safe, reliable and clean energy future for the country.”
He said the attempt by “some actors to establish the so-called ‘nature reserve’ status over Bajo de Masinloc, or Scarborough Shoal, which is a longstanding and integral part of the Philippines over which it has sovereignty and jurisdiction, clearly violates not only
He emphasized that such rights are guaranteed by the 1982 United Nations Convention on the Law of the Sea, the final and binding 2016 South China Sea Arbitration Award, and the Philippines’ domestic law.
The Kuala Lumpur summit was attended by Asean leaders and US officials led by President Donald Trump.
A6 Wednesday, October 29, 2025
Editor: Angel R. Calso
China, Asean strengthen trade relations amid Trump’s tariffs and South China Sea tensions
By Eileen Ng & David Rising
The Associated Press
UALA LUMPUR, Malaysia—China
Ksigned an expanded version of a free trade agreement Tuesday with the Association of Southeast Asian Nations, with Chinese Premier Li Qiang pitching expanded economic ties with his country as an alternative to the protectionist policies of US President Donald Trump.
Li Qiang told an Asean-China summit meeting after the signing that closer cooperation could help overcome global economic uncertainties. He said “pursuing confrontation instead of solidarity brings no benefit” in the face of economic coercion and bullying, in a swipe at the US.
“Unity is strength,” he said, citing remarks by President Xi Jinping made during a Southeast Asia visit earlier this year. His remarks were met with skepticism by Philippine President Ferdinand Marcos
Jr., whose country has clashed with China over competing claims in the South China Sea, as have other Asean members.
Marcos welcomed the expanded trade pact, but stressed that “this cooperation cannot exist alongside coercion.”
Pact could ease alreadybooming regional trade THE signing of the Asean-China Free Trade Area 3.0 came on the final day of the annual Asean summit and related meetings and was witnessed by Li Qiang and Malaysian Prime Minister Anwar Ibrahim, who is serving as Asean chair this year.
It’s the third revision of the longstanding agreement, which was first signed in 2002 and came into force in 2010. The free trade area covers a combined market of more than 2 billion people and lowers tariffs on goods and boosting flows of services and investment.
Two-way trade has surged from $235.5 billion in 2010 to nearly $1 trillion last
year. Asean and China are each other’s top trading partners.
Li stressed “mutual reliance” between China and Asean members Brunei, Cambodia, East Timor, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, calling them “good neighbors and good brothers that are close in geography, culture and sentiment.”
“Unilateralism and protectionism have seriously impacted the global economic and trade order, while external forces are increasing their interference in the region—many countries have been unreasonably subjected to high tariffs,” he said.
“By relying on each other and coordinating our actions, we can safeguard our legitimate rights and interests.”
Southeast Asian political analyst Bridget Welsh said the upgraded pact would benefit both sides, especially in the areas of supply chains and sustainability.
“It also speaks to a global reality that non-US countries are coming together to strengthen trade relationships for their prosperity as a recoupling with the US is ongoing,” she said,
Asean juggles relationships with China and US
The prospect of a deepening trade conflict between China and the US has risked weakening economic growth worldwide.
Trump at the Asean summit on Sunday announced new economic details with Cambodia, Malaysia, Thailand and Vietnam, though all countries are still subject to new tariffs he has brought in.
Anwar stressed at the Asean meeting with China that the bloc seeks friendly relations with all countries.
“The day before we were with President Donald Trump of the United States of America, and today we are back with China,” he said. “And that reflects Asean centrality...This is what we
consider steady engagement that fosters trust that enables us to work through challenges together.”
There were signs that tensions between the US and China were cooling ahead of a planned meeting between Trump and Xi, which is expected to take place in South Korea on Thursday. Top negotiators from each country said a trade deal was coming together, which could prevent a potentially damaging confrontation between the world’s two largest economies.
Officials said the Asean-China Free Trade Area 3.0 is expected to broaden integration across the region by covering new areas such as digital trade, the green economy, sustainability and support for small and medium-sized enterprises, which make up the majority of Asean businesses. The agreement is designed to make trade benefits more accessible, improve market entry for smaller players, streamline non-tariff procedures and lower regulatory barriers.
Territorial tensions remain MARCOS said the pact could help modernize trade practices and enable both sides to better respond to emerging economic challenges, but urged China to “commit to cooperation and meaningful engagement, especially in the South China Sea.” Marcos said it was “regrettable” that Philippine vessels and aircraft continue to face “dangerous actions and harassment” in the South China Sea. He reiterated Manila’s objections to Beijing’s plan to establish a “nature reserve” over a hotly disputed shoal in the area.
“Actions like these cannot hide under the veneer of marine environmental protection because they have no legal basis or effect, blatantly disregard international law, and infringe on the Philippines’ sovereignty,” he said. Still, Marcos added that Manila would continue to engage constructively with China to manage differences.
Trump praises Japan’s new prime minister, saying US is an ‘ally at the strongest level’
By Josh Boak & Chris Megerian
TThe Associated Press
OKYO—President Donald Trump began one of his busiest days of his Asia trip on Tuesday by warmly greeting the new Japanese prime minister, and spoke to US troops aboard an aircraft carrier and mingle with business leaders.
Although Trump is visiting one of America’s most steadfast allies in Asia, there’s no shortage of uncertainty while he’s there. Sanae Takaichi, who became the country’s first female prime minister only days ago, must solidify her relationship with Trump while defending her country’s economic interests. Trump is trying to nail down $550 billion in Japanese investment as part of a trade agreement.
Trump and Takaichi swap warm words
AS Trump and Takaichi met on Tuesday, they shook hands and he paid her a compliment:
“That’s a very strong handshake.”
In return, Takaichi talked about watching the third game of the US World Series before the event. She added that Japan would give Washington 250 cherry trees next year to honor America’s 250th anniversary, as well as fireworks from Akita Prefecture for July 4 celebrations.
She used her early remarks to mention former Japanese Prime Minister Shinzo Abe, her archconservative mentor who forged a strong bond with Trump during his first term through their shared interest of golf.
“As a matter of fact, Prime Minister Abe often told me about your dynamic diplomacy,” she said.
Trump called her role as Japan’s first woman prime minister as a “big deal,” putting an emphasis on the US commitment to Japan. While the president in the past has publicly scolded his foreign counterparts, he had nothing but praise for Takaichi.
“Anything I can do to help Japan, we will be there,” Trump said. “We are an ally
at the strongest level.”
Takaichi is primed for a charm offensive, including a potential purchase of Ford F-150 trucks. Reporters arriving for the event were hustled past a gold-hued Ford F-150 as well as what appeared to be white Americanmade Toyota vehicles parked outside the Akasaka Palace, which is Tokyo’s guest house for visiting foreign leaders.
Trump has often complained that Japan doesn’t buy American vehicles, which are often too wide to be practical on narrow Japanese streets.
The Japanese delegation also made the strategic choice to serve American beef and rice during a working lunch that was mixed with Japanese ingredients, at which the two leaders also discussed efforts to end Russia’s war in Ukraine.
Takaichi also gave Trump a putter used by Abe, the former prime minister, and a golf bag signed by the professional golfer Hideki Matsuyama, according to a post on X by White House aide Margo Martin. They
signed black “Japan is Back” baseball caps that resembled Trump’s own red “Make America Great Again” caps.
Agreements vow a ‘golden age’ for alliance and cooperation on critical minerals
BOTH leaders signed the implementation of an agreement for the “golden age” of their nations’ alliance. When the document was held up after signing, it ran to less than one page and reaffirmed the earlier framework by which the US would tax goods imported from Japan at 15% and the creation of a $550 billion fund for Japan to invest in the US.
Trump and Takaichi then signed a second agreement, this one laying out a US-Japan framework for securing the supply of critical minerals and rare earths. That agreement suggested that some of the investment dollars would go to the development of rare earths needed for advanced technologies.
White House press secretary Karoline Leavitt told reporters that Takaichi would
be nominating Trump for the Nobel Peace Prize. The two leaders also met with people whose family members were abducted by North Korea.
Trump talks to troops on US aircraft carrier
ALTHOUGH Trump has focused his foreign policy toward Asia around tariffs and trade, he also spoke aboard the USS George Washington, an aircraft carrier docked at an American naval base near Tokyo. The president brought Takaichi with him and she also spoke.
Trump arrived in Tokyo on Monday, when he met with the emperor in a ceremonial visit. He was previously in Kuala Lumpur, Malaysia, where he participated in the annual summit of the Association of Southeast Asian Nations.
The gathering was an opportunity for Trump to celebrate an expanded ceasefire agreement between Thailand and Cambodia, which skirmished along their disputed border earlier this year. Trump had pressured them to stop fighting by threatening to withhold trade agreements. There were also signs that tensions between the US and China were cooling off ahead of a planned meeting between Trump and Chinese leader Xi Jinping, which is expected to take place in South Korea later this week. Top negotiators from each country said a trade deal was coming together, which could prevent a potentially damaging confrontation between the world’s two largest economies. Details were scarce, and it was unclear how much any agreement would resolve long-standing issues, or if it would return the relationship to the status quo before recent confrontations. China has restructured the export of rare earth elements that are critical for high-tech manufacturing, and Trump responded by threatening tariffs that even he admits would be unsustainable.
Megerian reported from Seoul, South Korea. Mayuko Ono and Mari Yamaguchi in Tokyo contributed to this report.
South Korea’s Lee faces high-stakes diplomacy at APEC summit amid US-China trade tensions
By Hyung-Jin Kim & Kim Tong-Hyung The Associated Press
SEOUL, South Korea—South Korea’s new president will host leaders from 20 countries for the upcoming Asia-Pacific Economic Cooperation summit, where the American and Chinese leaders are set to hold a high-stakes meeting on the sidelines.
The two-day annual APEC summit, which opens in Gyeongju on Friday, is likely to test Lee Jae Myung’s diplomatic abilities as he faces tough foreign policy challenges.
Lee, in office less than five months, seeks to get along with friends and rivals alike with his self-proclaimed “pragmatic diplomacy.” But prospects for greater cooperation with Washington and Tokyo are in doubt due to Trump’s tariff war and the election of a new ultraconservative leader in Japan.
Tensions with North Korea remain high after Pyongyang snubbed Lee’s overture and bolstered ties with Russia and China instead.
In Gyeongju, Lee is expected to hold one-on-one meetings with US President Donald Trump, Chinese President Xi Jinping and new Japanese Prime Minister Sanae Takaichi, while presiding over APEC events.
Experts say the summit may offer positive optics for Lee, but it doesn’t guarantee long-term diplomatic success.
A joint declaration and US-China tensions
THIS year’s APEC summit, the first in South Korea in 20 years, is overshadowed by Thursday’s Trump-Xi meeting, whose results are expected to have a major impact on the global economy. Trump will likely skip APEC’s main conference, but experts say Lee could still align with other countries to promote free trade and multilateralism.
South Korean officials say they’ve been holding ministeriallevel communications with other countries to prod all 21 to issue a joint declaration at the end of the summit in an effort not to repeat the failure to reach one in 2018 in Papua New Guinea due to USChina discord over trade.
“Of course, there are some lingering issues, but many have been resolved. We’re making efforts toward the adoption of a ‘Gyeongju Declaration’ and acting as a mediator between the US and China,” South Korea’s national security director Wi Sung-lac told local broadcaster KBS on Sunday. US and Japan
TOP South Korean officials have been recently flying in and out of
Washington to finalize a trade agreement with the US, but it’s unclear if the two countries can strike one in time for the APEC summit.
South Korea’s trade minister, Kim Jung-Kwan, told lawmakers Friday that Washington and Seoul remain “sharply divided” over how much of South Korea’s promised $350 billion US investment package should be provided as direct cash payments under a July deal aimed at averting the Trump administration’s highest tariffs.
There are also worries that South Korea’s ties with Japan could turn sour because of the recent inauguration of Japan’s Takaichi, who has right-wing views on her country’s wartime aggressions.
Relations between the Asian neighbors and their trilateral military cooperation with the US have improved in recent years. But Seoul-Tokyo ties previously experienced on-again, off-again setbacks due to grievances stemming from Japan’s past colonial rule of the Korean Peninsula. There are also questions about whether a trilateral Seoul-Tokyo-Washington partnership would continue to grow amid Trump’s “America
first” policy. Kim Tae-hyung, a professor at Seoul’s Soongsil University, said Seoul and Tokyo are more likely to continue to tighten cooperation as they both struggle to deal with Trump’s unilateral push to reset the global trade order and American security commitments to them.
Oh Hyunjoo, a deputy South Korean national security director, told reporters Monday that there likely wouldn’t be enough time to organize a trilateral meeting with Lee, Trump and Takaichi.
A push to reopen talks with North Korea
Restarting diplomacy between Trump and North Korean leader Kim Jong Un would potentially help Lee’s push to reconcile with North Korea.
During campaigning, Lee said he would support Trump’s efforts to restore diplomacy with Kim, saying that improved ties between Pyongyang and Washington could allow aid projects for the impoverished North that would likely need South Korean funding.
While en route to Asia, Trump told reporters aboard Air Force One on Friday that he’s open to meeting with Kim, saying he had “a great relationship” with him.
North Korea hasn’t responded, but Kim suggested last month that he could meet Trump again if the US withdraws denuclearization of North Korea as a precondition
for talks. Oh said Seoul sees little chance of a Trump-Kim meeting on the occasion of the APEC. But she noted that South Korea would have contingency plans ready if the two leaders decide to meet in the future. Their third and last meeting in June 2019 was arranged at the inter-Korean border village of Panmunjom, a day after Trump posted a tweet message inviting Kim to the border.
Chinese-Korean relations XI’S visit will mark his first trip to South Korea in 11 years. Lee is expected to seek to boost economic and other ties with China, South Korea’s biggest trading partner, observers say. China, locked in rivalry with the US, likely sees the need to improve relations with South Korea and Japan. That possibly gives South Korea more diplomatic leverage and allows it to manage its relations with Washington, Beijing and Tokyo more effectively, said Jeonghun Min, a professor at Seoul’s National Diplomatic Academy.
“(South Korea’s approach) is to strengthen cooperation with the US on a robust alliance and, on that foundation, manage relations with China and other major countries,” Min said. “The attendance of leaders from all major countries at this APEC summit provides a good opportunity to advance such pragmatic diplomacy.”
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Urgent call to end shutdown as millions face food assistance cuts and pay delays
By Kevin Freking & Stephen Groves
The Associated Press
WASHINGTON—The pressure to end the second-longest federal government shutdown is gaining new urgency this week as millions of Americans face the prospect of losing food assistance, more federal workers miss their first full paycheck and recurring delays at airports snarl travel plans.
The building strain on lawmakers to end the impasse was magnified by the nation’s largest federal employee union, which called on Congress to immediately pass a funding bill and ensure workers receive full pay. Everett Kelley, president of the American Federation of Government Employees, said the two political parties have made their point.
“It’s time to pass a clean continuing resolution and end this shutdown today. No half measures, and no gamesmanship,” said Kelley, whose union carries considerable political weight with Democratic lawmakers.
Still, Democratic senators, including those representing states with many federal workers, did not appear ready to back down. Virginia Sen. Tim Kaine said he was insisting on commitments from the White House to prevent the administration from mass firing more workers. Democrats also want Congress to extend subsidies for health plans under the Affordable Care Act.
“We’ve got to get a deal with Donald Trump,” Kaine said.
But shutdowns grow more painful the longer they go. Soon, with closures lasting a fourth full week as of Tuesday, millions of Americans are likely to experience the difficulties firsthand.
Shutdown’s impact is set to grow dramatically
THE nation’s 1.3 million activeduty service members are at risk of missing a paycheck on Friday. Earlier this month, the Trump administration ensured they were paid by shifting $8 billion from military research and development funds to make payroll. But it is unclear if the Trump administration will be willing—or able—to shift money again.
Larger still, the Trump administration says funding will run out
Friday for the food assistance program that is relied upon by 42 million Americans to supplement their grocery bills. The administration has rejected the use of more than $5 billion in contingency funds to keep benefits flowing into November. And it says states won’t be reimbursed if they temporarily cover the cost of benefits next month.
The Department of Agriculture says the contingency fund is intended to help respond to emergencies such as natural disasters. Democrats say the decision concerning the Supplemental Nutrition Assistance Program, known as SNAP, goes against the department’s previous guidance concerning its operations during a shutdown.
“The administration is making an intentional choice not to fund SNAP this weekend,” said Senate Democratic leader Chuck Schumer of New York. “The emergency funding is there. The administration is just choosing not to use it.”
Will lawmakers find a solution?
AT the Capitol, congressional leaders mostly highlighted the challenges many Americans are facing as a result of the shutdown. But there was no movement toward negotiations as they attempted to lay blame on the other side of the political aisle.
“Now government workers and every other American affected by this shutdown have become nothing more than pawns in the Democrats’ political games,” said Senate Majority Leader John Thune, R-S.D.
The House passed a short-term continuing resolution on Sept. 19 to keep federal agencies funded.
Speaker Mike Johnson, R-La., has kept the House out of legislative session ever since, saying the solution is for Democrats to simply accept that bill.
But the Senate has consistently fallen short of the 60 votes needed to advance that spending measure. Democrats insist that any bill to fund the government also address health care costs, namely the soaring health insurance premiums that millions of Americans will face next year under plans offered through the Affordable Care Act marketplace.
The Associated Press writers Mary Clare Jalonick in Washington and Marc Levy in Harrisburg, Pennsylvania, contributed to this report.
Continued from A1
Even if the country’s economic growth is lower than expected, at 5.5 percent, Francisco said it is “still one of the highest in the world.”
“There’s not enough reason for [the peso] to depreciate that much. Because it’s sentiment, we cannot control it—no matter how much money put in might be hard to defend,” Francisco said.
Jonathan I. Ravelas, senior adviser at professional services firm Reyes Tacandong & Co., said breaking the P60 level is “highly probable” due to trade and tariff issues.
“The political issue will add momentum towards 61-62 levels. My yearend is P58.900,” Ravelas said.
Governance reforms still key
MEANWHILE, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, said improving local governance standards would
Asean. . .
Continued from A6 Peso. . .
Asean members Vietnam, the Philippines, Malaysia, and Brunei—along with Taiwan— have overlapping claims with China, which asserts sovereignty over nearly the entire South China Sea. Chinese and Philippine vessels have repeatedly clashed in the vital sea trade route.
Marcos has vowed to accelerate the conclusion of a Code of Conduct to govern
help improve investor sentiment on the local financial markets, as seen more than 10 years ago when the policy priority was anti-corruption reforms.
Ricafort said these improvements include anti-wastage on government spending, particularly on infrastructure and other fiscal reform measures to further improve the country’s fiscal management.
“The US dollar/peso exchange rate would now be a function of the BSP in terms of interventions/smoothening the volatility, as one of the major factors/catalysts, going forward. Thus, ignoring the BSP factor would be a mistake for those looking for higher levels,” Ricafort added.
The central bank said the peso continues to be supported by resilient remittance inflows, still relatively fast economic growth, low inflation and ongoing structural reforms.
“Foreign exchange inflows from business process outsourcing, tourism, and overseas Filipino workers continue to buffer external shocks,” the BSP said.
behavior in the disputed waters when the Philippines assumes the Asean chairmanship next year. In Beijing, Chinese Foreign Ministry spokesperson Guo Jiaku on Monday accused the Philippines of “deliberate infringements and provocations at sea,” blaming Manila for escalating tensions. Welsh, the analyst, said regional officials treat the South China Sea dispute as a separate track from security ties and don’t expect it to impact economic ties with China.
Manila RTC clears lawyer over ‘spurious’ affidavit of Orly Guteza
TPRC deploys 2,200 first aiders for Undas; MMDA suspends number coding on Oct. 31
By Joel R. San Juan @jrsanjuan1573
HE Office of the Executive Judge of the Regional Trial Court of Manila City has cleared lawyer Petchie Rose Espera of any criminal or administrative liability over the purported notarization of the sworn affidavit of former marine officer Orly Regala Guteza, accusing former House speaker Martin Romualdez and resigned Ako Bicol Party List Rep. Zaldy Co of receiving kickbacks from flood control projects.
In an 11-page order, Manila RTC Executive Judge Carolina Icasiano-Sison also referred the supposed falsification of Guteza’s affidavit before the Department of Justice (DOJ) for further investigation and filing of appropriate charges against the latter and all other persons who used or presented his sworn affidavit. It can be recalled that Guteza
submitted the sworn affidavit during his testimony last month before the Senate Blue Ribbon Committee which is investigating the involvement of government officials and private individuals in various ghost and substandard flood control projects across the country.
Guteza was presented before the committee by Senator Rodante Marcoleta as a surprise witness.
Sison’s order stemmed from the incident report filed by Espera on September 25, 2025, claiming that Guteza’s affidavit was presented before the Senate hearing and disseminated to the public through social media platforms.
She further relayed that the said document bears her name, notarial commission details and signature, making it appeared as if she had notarized the same.
However, the lawyer denied having notarized or signed the said documents and that the
notarial signature and seal attributed to her are falsified and unauthorized.
She further claimed that upon verification of her notarial register, there is no entry corresponding to said document which confirms that the same is spurious.
Upon receipt of the incident report, the executive judge set the case for hearing on September 30 but only Espera showed up.
“Accordingly, in view of the finding that Atty. Espera appears to be the victim of the incident, her signature and notarial details having been forged, there exists no basis for the imposition of administrative liability against the said notary public under the 2004 Rules on Notarial Practice,” the order read.
“Hence, Atty. Espera is hereby cleared of any liability arising from the notarization of the subject Sinumpaang Salaysay,” it added.
Considering that Guteza’s affidavit contains spurious notarial details, a forged notary’s signature, and was presented in a public hearing before Senate, Judge Sison said Guteza and all persons who made use of said documents “actively participated in its falsification.”
“In this instance, considering that Mr. Guteza presented the Sinumpaang Salaysay during the public hearing and is deemed to be the author (of falsification) thereof, appropriate falsification charges shall be filed against him,” the order stated.
“Similarly, all other persons who made use or uttered the Sinumpaang Salaysay signed by Mr. Guteza shall be liable for falsification, noting that ‘in the absence of a satisfactory explanation, one who is found in possession of a forged document and who used or uttered it is presumed to be the forger,” it added.
DAR to provide land titles, COCROMs, to Zamboanga Peninsula ARBs
THE Department of Agrarian Reform (DAR) will conduct a region-wide consultation with various stakeholders in Zamboanga as the agency gears up for the massive distribution of land titles. The stakeholders’ consulta -
tion, tentatively slated on October 29 at the Mega Gym, Provincial Government Compound, Dao, Pagadian City, underscores the government’s continuing commitment to empower Agrarian Reform Beneficiaries (ARBs), by ensuring land tenure secu -
rity, farm mechanization, and support services that enhance agricultural productivity and promote rural development.
DAR Region IX will distribute a total of 1,557 land titles consisting of 1,060 electronic titles (e-titles) under the Support to Parcelization of Lands for Individual Titling (SPLIT) Project, and 497 regular titles, covering 2,021 hectares of agricultural land. These will benefit 1,375 ARBs from Zamboanga del Norte, Zamboanga del Sur, and Zamboanga Sibugay.
In addition, 2,044 Certificates of Condonation with Release of Mortgage (COCROMs) will be awarded to 3,027 ARBs, condoning a total amount of P116,215,503.92 and covering 6,065 hectares of land. The issuance of these COCROMs relieves ARBs of longstanding land amortization obligations, paving the way for debtfree ownership and renewed agricultural productivity.
To complement these land tenure initiatives, DAR will also turn over 28 units of farm machinery
and equipment (FMEs), 768 heads of ready-to-lay (RTL) chickens, and 23,532 agricultural inputs to various agrarian reform beneficiaries’ organizations (ARBOs) in the region. With a total project cost of P49.17 million, these interventions aim to strengthen ARBO enterprises, promote mechanized and sustainable farming, and improve market access for local produce.
Secretary Conrado Estrella III will personally lead the ceremonial distribution and turnover, reaffirming DAR’s continuing efforts to ensure that land distribution is complemented with comprehensive support services that empower farmers toward productivity, self-reliance, and sustainable growth.
The milestone activity reinforces the Marcos administration’s vision of an inclusive and equitable agrarian reform program that provides land, livelihood, and longterm opportunities for Filipino farmers and their families.
Jonathan L. Mayuga
AS millions of Filipinos travel to remember their departed loved ones, the Philippine Red Cross (PRC) is gearing up for the 2025 Undas Operation by mobilizing 2,200 first aiders and 92 chapters, covering 314 areas nationwide in observance of All Saint’s Day (Nov. 1) and All Soul’s Day (Nov. 2).
Meanwhile, the Metropolitan Manila Development Authority (MMDA) announced the suspension of the numbercoding scheme on October 31.
Suspendido ang pagpapatupad ng expanded number coding scheme sa Biyernes, Oktubre 31, isang special-non working holiday, bilang paggunita sa All Saints’ Day Eve,” the MMDA’s advisory stated.
Likewise, the agency said that around 2,400 MMDA personnel will be deployed in different parts of the metropolis to assist the motorists and the public.
“No day-off, no absent” policy was also on October 28 and will last until November 2, said MMDA Chairman Romando Artes.
According to the PRC, 284 First Aid Stations and 141 Welfare Desks will be established all over the country.
The complete list of areas to be covered include 246 cemeteries, 23 chapter vicinities, 14 bus terminals, 11 seaports, 8 highways, 4 command posts, 3 gas stations, 2 airports, 2 barangay halls, a church, and a train station.
During the holidays, the PRC will be activating all 180 ambulance units with 63 ambulances deployed on the ground and the rest on standby for dispatch. In addition, 58 mobile units (service vehicles), 100 on-foot patrol units, and 2,200 first aiders will be mobilized to ensure full coverage and accommodation of individuals who may need immediate treatment or medical assistance.
The majority of the stations will be set up on Thursday, October 30— with some a day earlier in anticipation of early visitors to the cemeteries.
The Philippine Red Cross’ Undas Operations are expected to last until Sunday, November 2.
PRC Chairman and CEO Richard Gordon reassured the people that the PRC is prepared to assist the influx of people that will be visiting cemeteries and public spaces for this year’s Undas.
“As families come together to remember their loved ones this Undas, the Philippine Red Cross stands ready to serve. Our volunteers, staff, and assets are strategically placed and will be on high alert to ensure that every Filipino can commemorate safely and with peace of mind,” he said. On the other hand, PRC Secretary General Dr. Gwen Pang reminds everyone to remain vigilant, especially during this Undas season.
“On behalf of the PRC, we would like to remind everyone leaving their homes to unplug electric appliances, lock doors, and never have lit candles unattended. As congestion between stations, roads, and cemeteries are projected to worsen, we encourage everyone to bring their own first aid kits and essentials in case of emergencies,” she said. PRC reminds everyone to stay safe on the road and at home.
The PRC encourages the public to plan routes ahead, stay alert, and always carry essentials and a first aid kit when traveling.
Those leaving their homes are also advised to secure all entry points, avoid posting travel plans online, and keep emergency contacts accessible. By observing these safety tips, families can ensure a peaceful and safe commemoration of Undas.
Claudeth Mocon-Ciriaco
Army, Megaworld conduct quake preparation summit
By Rex Anthony Naval
THE Philippine Army (PA) on Tuesday announced that it had partnered with Megaworld for the conduct of the so-called “Earthquake People and Real Estate Emergency Preparedness Summit” (PREPS) aimed at
empowering key stakeholders, urban residents and partner agencies on disaster resilience and preparedness.
The event took place at The Blue Leaf Events Pavilion, McKinley Hill, Taguig City on Monday, Army spokesperson Col. Louie Dema-ala said in a statement.
The PA, through the 525th Combat Engineer Battalion, its primary disaster response unit, showcased their capability in military mobilization during calamities and earthquakes and shared their actual disaster response operations in Turkey and Myanmar.
Meanwhile, Oplan “Metro Yakal,” Metro Manila’s Earthquake Contingency Plan was presented by the Metro Manila Development Authority.
This will serve as an integrated framework to orchestrate disaster preparedness and operational pro -
See “megaworld,” A11
Smuggled farm products using formalin pose public health risks, warns Sen. Kiko
By Butch Fernandez @butchfBM
SMUGGLED agricultural products may contain harmful chemicals that can endanger the health of Filipino consumers, Senator Francis “Kiko” Pangilinan warned on Saturday, October 25, after he revealed that illegally imported products bypass safety checks and may be unfit for consumption.
In a radio interview on DWIZ, the senator said that agricultural smuggling harms not only the country’s agricultural sector and its farmers and fisherfolk, but also ordinary Filipinos who may unknowingly consume vegetables and meat that have been injected with formalin.
Pangilinan, who chairs the Senate Committee on Agriculture, Food, and Agrarian Reform, said that he received intelligence reports indicating that some smuggled agricultural products from China meant for disposal were instead treated with formalin upon entering the country and later entered commercial distribution.
Formalin is a solution of water and formaldehyde commonly used as a disinfectant and preservative for cadavers and laboratory speci -
mens. It is not intended for use on food and is considered toxic when ingested.
“ Nakakalason yan. Murang pinapasok dito dahil dapat tinatapon na yan – unfit na yan. Nilulublob sa mga kemikal para mag-mukhang sariwa at saka nilalabas ,” the senator said. Ang taumbayan, hindi lang mga magsasaka at mga mangingisdang lokal ang talagang naapektuhan dito: pati ang ating [mga] mamimili ,” he added.
Pangilinan also noted that some of the recently seized smuggled agricultural products that crossed the country’s borders bypassed the Sanitary and Phytosanitary Import Clearance (SPSIC)— which ensures plant shipments meet health standards—by being misdeclared as processed food.
“In the end, nakakasira ito sa kalusugan ng ating mga kababayan. Sadyang nilalason ang ating mga kababayan. At pangalawa, talagang pinapatay ang ating local farmers at fisherfolk,” he lamented.
The senator remains at the forefront of protecting farmers, fisherfolk, and consumers’ health as he leads agricultural reforms in the Senate. He continues to push for stronger measures against smuggling and stricter safeguards to ensure the public’s well-being.
PhilHealth reminds anew for early detection to prevent PHL’s leading cancer incidence
By Manuel T. Cayon @awimailbox
DAVAO CITY – Filipino women must better get cancer screening the soonest to pull down the country’s reputation of having Asian’s highest mortality rates in breast cancer, the Philippine Health Insurance Corporation (PhilHealth) said.
“The Philippines has said extremely low breast cancer screening rates, which is linked to the country having one of the highest breast cancer mortality rates in Asia,” the PhilHealth said.
The Philippine Institute for Development Studies said its 2023 study shows that only one percent of Filipino women was screened for cancer, translating to only 540,000 women out of an estimated 54 million getting screened.
“Compounding the issue is that a significant majority—as high as 65 percent—of breast cancer cases are diagnosed in the advanced stage, greatly reducing the fiveyear relative survival rate,” it said, urging Filipino women to heed its Breast Cancer Awareness Month advocacy to get screen for early detection if possible.
It assured that PhilHealth members of their financial coverage for breast cancer treatment under the PhilHealth Z Benefit Package for Breast Cancer, which it said has been substantially enhanced.
Angara urges long-term education reforms at EDCOM II hearing
By Claudeth Mocon-Ciriaco @claudethmc3
WHILE the Second Congressional Commission on Education’s (EDCOM II) ongoing review seeks to update education laws to address emerging challenges in policy, resources, and coordination, Education Secretary Juan Edgardo “Sonny” Angara on Tuesday underscored the urgency of strengthening long-term reforms in basic education.
Facing EDCOM II hearing on Tuesday, Angara emphasized that these reforms are vital to addressing long-standing gaps that continue to affect learning quality and system performance.
The hearing, held at Nemesio I. Yabut Integrated School, focused on reviewing the Department of
Education (DepEd) Charter under Republic Act No. 9155, which defines the Department’s governance and mandate.
Kailangan natin ng mga pangmatagalang solusyon para ayusin ang sistema ng edukasyon sa bansa...Our reforms aim to make DepEd more focused, better resourced, and strategically aligned,” said Angara, adding that the department is pursuing priority legislative measures that directly address implementation and financing gaps.
These, he said, include:
•Expansion of the Special Education Fund (SEF) to augment local education resources;
•Expedited issuance of school site titles to unlock infrastructure development;
•New Adopt-A-School provisions to attract greater private sector
involvement;
•Teachers in Every Barrio Bill to ensure equitable teacher deployment; and
•Amendments to the Teachers Professionalization Act to support comprehensive human resource reforms.
For broader learner welfare, DepEd is also proposing amendments to the Masustansyang Pagkain para sa Batang Pilipino Act and the Expanded Government Assistance to Students and Teachers in Private Education (E-GASTPE) Law, aimed at improving access to feeding programs, learner subsidies, and transportation support.
These initiatives form part of DepEd’s Quality Basic Education Development Plan (QBEDP) 2025–2035, a 10-year roadmap envisioning a high-performing, learner-centered, and well-sup -
ported education system.
DepEd’s presentation revealed that since 1982, 49 laws have expanded DepEd’s responsibilities, many with specific implementation requirements but without sustained funding. Among the most persistent issues, the report identified unfunded mandates, resource shortfalls, and systemic gaps that fall on DepEd despite requiring cross-sectoral action.
The Department also sits in 261 interagency councils, creating coordination burdens that dilute focus and resources.
“DepEd’s mandate will keep evolving...But if we strengthen our foundations now—funding, governance, and inter-agency alignment—we can finally make the system work for every Filipino learner,” Angara said.
From scale model to reality: PBBM gets update on SHFC housing projects at Expo booth
RESIDENT Ferdinand R. Mar-
Pcos was briefed on the progress of housing projects of the Social Housing Finance Corporation (SHFC) during his visit to the agency’s booth at the National Housing Expo 2025 held at the World Trade Center in Pasay City on October 23.
“The package has increased by 1300 percent, reaching up to P1.4 million from the previous P100,000,” it added, saying the benefit now covers patients with breast cancer across Stages 0 to 4, including those who are already undergoing treatment.
As of September 2025, the amount paid for Z Benefit Package for Breast Cancer has reached P72.03 million.
The PhilHealth said its Yaman ng Kalusugan, or Yakap, program further reinforced this as it covers selected outpatient cancer screening tests for breast cancer including financial coverage for a mammogram (P2,610) and breast ultrasound (P1,350).
“By providing extensive financial protection from initial diagnostic tests to complex targeted therapy, PhilHealth aims to remove the cost as a barrier and encourage patients to seek care early, improving outcomes for a disease that is curable when detected in its initial stages,” it said.
“Through PhilHealth Yakap, we make it faster and more affordable the health services. I encourage every Filipino woman not to skip on your health. Have yourself checked, follow it up, and comply with the prescribed medication and treatment. This is your right and we are here to support you,” said PhilHealth President and Chief Executive Officer, Dr. Edwin M. Mercado.
pact citing the National Disaster Risk Reduction Management Plan.
cedures of all concerned agencies for the “Big One” or the massive earthquake that is expected to affect Metro Manila should the West Valley Fault moves.
Megaworld Corporation shared their initiatives on establishing their Earthquake Council which focuses on Extensive Building Audits, embracing technology and innovation on emergencies, mapping out business continuity plan and the launch and distribution of their “life bags” to their tenants, and residents.
Further, the Office of Civil Defense presented strategies to mitigate the disasters’ im -
Previously, the PA and Megaworld also conducted a series of Joint Threat and Disaster Interoperability Training in Iloilo City from Aug. 28 to 29 and in Metro Manila last May 19 to 26 at Eastwood City, Quezon City that capacitated around 200 personnel from Megaworld Lifestyle Malls based in the Visayas and National Capital Region to effectively deal with various emergency scenarios. The partnership projects are part of the PA-Megaworld “PagAlab” Program Partnership which aims to promote Filipino nationalism, volunteerism and social responsibility.
SHFC President and CEO Federico Laxa updated President Marcos and Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling on the implementation of the agency’s major housing projects nationwide, including the Crystal Peak Estates in San Fernando City, Pampanga, which the President personally inspected in July 2023.
The scale model displayed at the SHFC booth was the same one President Marcos signed during his visit at the site. To date, SHFC has already turned over 125 housing units to memberbeneficiaries of Crystal Peak Estates, with about 50 families having moved in since last month. Around 900 more units are now ready for turnover to beneficiaries.
President Marcos was pleased to see the completed buildings at Crystal Peak, recalling that he visited the site when construction of the vertical housing development in Barangay del Carmen had just started.
For his part, Laxa said SHFC remains committed to the President’s vision of housing for all through the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program. “We are accelerating project development across the country to make decent, safe, and affordable housing a reality for every Filipino family,” he added.
Similar to other projects of SHFC, Crystal Peak Estates caters to low-income families, as well as Overseas Filipino workers (OFWs) and uniformed personnel, in line with President Marcos’ directive to ensure housing for all sectors.
Construction of the second cluster, composed of eight buildings with a total of 3,440 units, is underway. The development also includes a central park, which is nearing completion and will soon serve as a shared recreational and community space for residents.
SHFC also has other vertical housing projects across the country, such as People’s Ville in Davao City, where 14 buildings have already been completed. Around 200 families have already moved in to their units, with over 1,400 units 1,600 units set for turnover
by yearend and 2026, respectively. Construction of 12 more buildings are set for completion by the end of the year.
Other developments—Valley View Township in Tagoloan, Misamis Oriental; Port Town in Manila; and Tandikan Ville in Puerto Princesa City, Palawan—are, likewise, making significant progress, demonstrating the agency’s com-
mitment to delivering inclusive and community-based housing solutions.
SHFC continues to expand access to affordable housing through its Enhanced Community Mortgage Program (ECMP), with five homeowners’ associations receiving their respective certificates of lot award from President Marcos during the National Housing Expo.
The agency also supports relocation and housing initiatives for families affected by major projects, including the North–South Commuter Railway, and implements in-city shelter programs such as the High Density Housing, Strategy for the Inclusive Mainstreaming of People’s Living Entitlements (SIMPLE) Program, and Marawi Shelter Project.
The high cost of cheap food: Unhealthy diets and healthcare in PHL
SUGARY and fried foods are popular in the Philippines particularly since these products are accessible and easier to prepare. Many of these items are affordable and would not take up much of one’s time to cook. One would only need a frying pan and lots of vegetable oil to make meals straight out of tin cans or foil packs bought from grocery stores.
These food items are consumed by many Filipinos despite knowing that they can pose a threat to their health. While there are adequate warnings about the consequences of consuming these products, ready-to-eat food products are now popular primarily because they are cheap. In some instances, these food products are even cheaper compared to the cost of a healthy diet in the Philippines.
The Food and Agriculture Organization of the United Nations (FAO) recently revealed that the cost of a healthy diet in the Philippines went up to $4.39 per day last year, from $4.21 recorded in 2023. Based on the FAO report, each Filipino had to spend P242 per day for a healthy diet. (See “Healthy diet costlier for Filipinos in 2024–FAO report,” BusinessMirror , August 6, 2025). While the figure may be less than half of the minimum wage in the National Capital Region, it is still beyond the reach of Filipinos, particularly those who have to pay rent and send their children to school.
The continued consumption of unhealthy food items, however, is more expensive in the long run as seen in the current cost of hospitalization and medicines. Based on the Philippine National Health Account of the Philippine Statistics Authority (PSA) for 2024, household out-of-pocket payment (OOP) reached P615.16 billion last year. It accounted for nearly half of the P1.43 trillion total health expenditure recorded in 2024.
Of the 2024 total health expenditure, some P565 billion went to hospitals, making them the top health care provider last year. Retailers and other providers of medical goods accounted for P453.88 billion. Of the top health care functions, curative care ranked first at P632.51 billion.
Based on 2021 data from the PSA, the Congressional Policy and Budget Research Department of the House of Representatives noted that the Philippines has one of the highest out-of-pocket payments as a percentage of the current health expenditure in Southeast Asia. The country ranked behind Myanmar and Cambodia, where out-ofpocket payments of citizens reached more than 60 percent of their health expenses.
While there are government schemes in place, PSA figures show that these are not enough to cover the health expenses of Filipinos. Unlike other Asean countries like Thailand and Brunei where citizens don’t have to shell out so much for their health needs, middleclass Filipinos are one illness away from poverty. Those who are in the Bottom 30 of the population have no other recourse but to fall in line in government hospitals, where beds are almost always scarce. Given these realities, it should therefore make more sense to promote preventive healthcare and encourage the consumption of a healthy diet. Access to affordable nutritious food items should be expanded as a first line of defense against diseases.
Railway milestones
IAmbassador Antonio L. Cabangon Chua
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Mark Villar
THE BUILDER
AM glad to learn about the recent milestones achieved in our major rail projects, which will certainly boost mobility across Luzon and enhance economic activity.
As a rapidly growing economy with a labor force of over 50 million, we desperately need these mass transit projects. Our existing road networks are overburdened by private cars and public utility vehicles, making new infrastructure projects critical.
The progress across rail projects signals a transformative era for the Philippines’ transportation network.
From the opening of international bidding for the North-South Commuter Railway (NSCR) operations to critical advancements on the Metro Manila Subway Project (MMSP) and the secured foreign support for the Subic-Clark-Manila-Batangas (SCMB) Railway, the government is moving forward with its “Build Better More” agenda.
The NSCR, a 148-kilometer flagship project, is moving forward with the Department of Transportation (DOTr) announcing the bidding for its operations and maintenance (O&M) contract to private sector partners.
The SCMB Railway is also gaining momentum as the anchor infrastructure for the Luzon Economic Corridor (LEC). The subway project
M(MMSP) is accelerating, with the DOTr beginning right-of-way (ROW) acquisition for critical sites like the Ortigas Station.
Overall, these synchronized efforts reflect a robust push to build a safer, more modern, efficient and sustainable national rail system.
Per the DOTr, several foreign and local firms expressed interest in the massive NSCR, whose operations are being offered through a publicprivate partnership (PPP) scheme.
The DOTr is looking for a qualified private partner to ensure a “reliable, safe and world-class” service. Major international companies, including Mitsubishi, Hitachi, Tokyo Metro and Alstom have already expressed interest.
The NSCR will have 37 stations in Central Luzon, Metro Manila and Calabarzon. It aims to serve over 800,000 passengers daily and is critical for decongesting Metro Manila roads.
Spanish company ACCIONA has begun construction on a vital 300-meter extradosed cable-stayed bridge in San Fernando, Pampanga, which is part of the Malolos-Clark segment. The bridge, expected to
By Angus Whitley
ETA Platforms Inc., Snap Inc. and ByteDance Ltd.’s TikTok said they’ll comply with Australia’s looming social-media ban for under-16s, setting aside their opposition just weeks before it comes into force.
Representatives from the platform operators gave remote testimony to a parliamentary inquiry in Canberra on Tuesday, and said they plan to start barring underage users from December 10, the day the world-first legislation takes effect.
Their declarations remove a potential headache for the Australian government as it prepares to police the ban. The testimonies leave Alphabet Inc.’s YouTube as the legislation’s most defiant opponent. YouTube rejects its classification by the Australian government as a social media platform, arguing it’s a videostreaming operator.
The law introducing the ban was passed by Australia’s parliament in
2024 with the aim of shielding children from the toxic elements of social media and online abuse. But the ban has raised privacy concerns around how age verification methods and doubts about how it can practically be enforced.
Social media platforms will be held responsible for preventing under-16s from having or creating accounts, or evading the restrictions. That’s been a major cause for their pushback and a recurring complaint. Companies that breach the law face fines of up to A$50 million ($32 million). Neither children nor their parents will be penalized for breaking the rules.
At Tuesday’s Senate inquiry, the
By prioritizing these mass transit and logistics networks, the government is tackling pressing issues like road congestion and high logistics costs, while fostering regional growth and creating millions of new jobs.
be finished by August 2027, will reduce traffic and cut travel time between Manila and Clark International Airport.
Another key initiative, the SCMB Railway, has received support from the Swedish government. Swedfund International has provided a grant to fund a feasibility study on the railway’s signaling systems and operational models.
The SCMB Railway is the anchor infrastructure for the Luzon Economic Corridor, designed to modernize freight transport, strengthen logistics and connect the major ports of Subic, Manila and Batangas.
The project is expected to reduce logistics costs, boost trade efficiency and generate jobs. The Swedish grant complements previous funding for related studies from the US Trade and Development Agency (USTDA).
Construction of the Metro Manila Subway Project is moving forward, with the DOTr beginning fencing works at the Metrowalk property in Pasig City to clear the way for the Ortigas Station. The DOTr is also working to acquire 95 percent of the necessary right-of-way (ROW) by December.
The MMSP is a 33-kilometer, 17-station underground railway that will connect Valenzuela City to Parañaque City (including a spur
companies behind TikTok, Snapchat, Instagram and Facebook raised concerns about the effectiveness of the ban, the difficulty of identifying children under 16, and the risks that kids will instead take themselves to darker online corners to communicate.
Mia Garlick, Meta’s regional policy director, said compliance “presents numerous challenges,” partly because current identification technologies are geared toward the age thresholds of 18 or 13.
“Sixteen is a globally novel age boundary that presents significant new engineering and age-assurance challenges,” she said.
Meta will use several tools including video selfies to check a user’s age, and the company will be deactivating relevant accounts on Dec. 10, Garlick said.
Jennifer Stout, Snap’s senior vice president of global policy and platform operations, said the company has started the necessary product and engineering work, but the un-
line to NAIA Terminal 3). Once fully operational by 2032, the subway is projected to carry 519,000 passengers daily and cut travel time from Valenzuela to Pasay from over an hour and a half to just 45 minutes. These major rail projects are advancing on multiple fronts. The NSCR is seeking a long-term operator with construction for its segments underway. The SCMB is gaining international financial and technical support, while the MMSP is actively clearing land for its crucial station sites. These parallel advancements underscore a crucial moment in the Philippines’ infrastructure development. The committed resources, international partnerships and aggressive timelines across the North-South Commuter Railway, Subic-ClarkManila-Batangas Railway and Metro Manila Subway Project reflect a decisive move toward a more integrated and competitive economy. By prioritizing these mass transit and logistics networks, the government is tackling pressing issues like road congestion and high logistics costs, while fostering regional growth and creating millions of new jobs. These rail projects are more than just tracks and stations. They are vital links to the economic performance, promising a future of faster, safer and more sustainable mobility that will enhance the quality of life for millions of Filipinos and secure our economic dynamism for decades to come.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph
precedented nature of the law makes compliance hard.
“Australia is a first mover in this space,” Stout said. “We are learning as we go. We’re going to do the best we can to comply.”
TikTok’s public policy lead for content and safety, Ella WoodsJoyce, said the company is concerned an age ban will not make kids safer, but it is on track to meet its legal obligations. YouTube, giving evidence to the same inquiry earlier this month, declined to comment on the status of any legal challenge to the ban. Rachel Lord, YouTube’s senior manager for government affairs and public policy for Australia and New Zealand, told the inquiry that the company was still in talks with the government and the eSafety Commissioner, Australia’s online safety regulator. A YouTube spokesman didn’t respond to a request for comment on Tuesday. Bloomberg
Trump sparks Korean capital flight with
$350 billion demand
By Youkyung Lee, Susie Kang & Ruth Carson
KIM JI-YEON is so worried about South Korea’s currency that she’s moving all the money she can into US stocks and gold.
A key reason: Korea’s pledge to invest $350 billion in the US, a figure that has stoked fears of spiraling losses in the currency.
“The Korean won is turning into toilet paper,” said Kim, a 32-year-old office worker in Seoul.
Kim is joining a rush among Korea’s 14 million mom-and-pop investors, whose march to overseas markets risks turning into an exodus. Their holdings of US stocks and bonds hit $184 billion this month, according to Korea Securities Depository data, the highest on record. That is ramping up pressure on Korean President Lee Jae Myung, set to meet Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation summit this week. Months after the two countries agreed on the broad strokes of a trade deal that offered relief for South Korea, the focus has shifted to the costs for the country—and its dire impact on investor sentiment.
The Korean won has dropped more than 3 percent against the dollar over the past three months, making it one of the worst performing currencies in Asia. Bank of Korea Governor Rhee Chang Yong has said the rush among Korean investors to buy overseas assets is putting clear pressure on the won, and making it harder for the central bank to manage currency volatility.
Goldman Sachs Group Inc. said in an Oct. 24 note that retail outflows are likely the biggest driver of the won’s sharp underperformance against other Asian currencies. The won fell around 0.3 percent against the dollar on Tuesday, lagging a small rise in the region’s currencies.
Retail investors “now have a strong sense that if they hold on to the won without doing anything, they would become an overnight beggar,” said Kim Hwa-Joong, head of the private wealth management division at Mirae Asset Securities Co., one of the nation’s biggest brokerages. Many of her clients have already switched to dollar assets.
Korea’s promise to invest $350 billion in the US, which followed a $550 billion pledge from Japan, allowed Seoul to limit tariffs on shipments of goods such as cars, smartphones and machinery to 15 percent. But the deal left major areas of uncertainty to be worked out, particularly how the money would be spent. President Lee initially indicated the $350 billion would help Korean companies enter the US, with $150 billion dedicated to the shipbuilding industry. This sense of nervousness among small investors in Korea belies the eye-popping returns in the country’s stock market this year. The benchmark Kospi Index has jumped almost 70 percent, making it one of the bestperforming in the world—and easily eclipsing the gains available from investing in US indexes. Shares of SK Hynix Inc., a chip supplier to Nvidia
Corp., have more than tripled. But many small investors remain unconvinced. So far Korea’s booming stock market rally is being driven by big institutional investors, including an influx of foreign funds. Foreigners have put around $13 billion into Korea’s stock market so far in the second half of this year, but this amount has been more than offset by the outflow from retail investors, according to Bloomberg and depository data.
Economic worries
PARK JUN-WON, a 25-year-old social worker in the city of Hwaseong, said holding dollar assets just feels like good risk management. During years of part-time jobs including cleaning the tables at a barbecue restaurant, he always made sure to set aside money to buy US stocks such as Berkshire Hathaway Inc., Coca-Cola Co. and Microsoft Corp.
“I don’t know why but just owning the dollar makes me feel like I’m managing the risks,” he said. “Because the economy is struggling, I’m not that pleased by the latest rally in the stock market. I think it’s only natural to wonder ‘why should we hold on to Korean money?’ in these circumstances.”
The economy will grow just 0.9 percent this year, according to government estimates, marking its slowest expansion since the Covid pandemic. But rising household debt and signs of a property bubble have constrained the ability of the Bank of Korea to fuel growth with interestrate cuts. It held rates steady on Oct. 23 for the third meeting in a row.
President Lee said in an interview Friday that Korea and the US remain stuck on all the major details of the trade deal, including how Seoul actually invests the money and how the profits and losses are doled out. Korea could dramatically reduce the damage to state coffers by replacing cash payments with loan guarantees.
The Bank of Korea has said that $20 billion a year is probably the maximum the government can provide without affecting the currency market.
“The US will of course try to maximize its interests but it mustn’t be to the extent that causes catastrophic consequences for South Korea,” said Lee, signaling the two countries may fail to finalize the trade deal in time for his meeting with Trump.
That is a message the government may need to sing a little louder for investors like John Lee, a tech startup employee in Korea’s populous Gyeonggi province. Lee only recently started to play the stock market after being scared off by previous downturns such as the dot-com bubble and the global financial crisis. He has kicked off his investing career with pessimism. Bloomberg
Trump’s new trade deals give US an edge over Southeast Asia
By Claire Jiao & Philip J. Heijmans
US President Donald Trump came to Southeast Asia wielding trade deals his office hailed as “historic.” The finer details, though, suggest a set of agreements that are uneven and with plenty of unknowns.
In a whirl of activity after landing in the Malaysian capital of Kuala Lumpur on Sunday, Trump unveiled trade agreements with Malaysia and Cambodia, as well as the frameworks of deals with Thailand and Vietnam.
The pacts give Trump some clear wins, like the removal of many tariff and non-tariff barriers on US exports into those countries and pledges to spend billions of dollars on American goods.
The benefits to the four Southeast Asian nations were less clear, though. They failed to negotiate a lower tariff rate than the 19 percent to 20 percent initially imposed by Trump, and while some exports from Cambodia and Malaysia would be exempted from levies, the categories appeared to be limited.
The “one-sided” deals carry “clear costs and vague benefits for Southeast Asia,” Bloomberg Economics’ Tamara Henderson and Adam Farrar wrote in a note. “The agreements seem set to roll back tariffs and regulations on US goods coming into Southeast Asia—a threat to domestic industry already feeling the squeeze from broad US trade tariffs.”
Barclays Plc. estimates that the tariff exemptions given to Malaysia apply to about $12 billion of its exports to the US, equivalent to 2.8 percent of gross domestic product. However, about $11 billion of that amount would be subject to limitations, which means only about $1
billion of exports to the US—or 0.2 percent of Malaysia’s GDP—would receive a zero tariff rate.
“While the list of Malaysian products that will be exempted from reciprocal tariffs under the agreement looks significant, most of these are subject to limitations—and the actual positive impact is likely to be relatively limited,” Barclays economists led by Brian Tan wrote in the note.
Malaysia’s stock market declined on Tuesday after modest gains on Monday, when the stock benchmark underperformed most of Asia’s biggest markets, suggesting investors had priced in the trade deals. The ringgit was up 0.2 percent on Tuesday.
‘Bit
of a puzzle’
BESIDES lowering tariffs, many of the trade pacts included commitments to purchase US goods and commodities, such as almost $150 billion worth of US semiconductor, data center and aerospace goods and equipment by Malaysian firms.
“The counterparties are agreeing to do an awful lot of difficult things,” said Deborah Elms, head of trade policy at the Hinrich Foundation, a Singapore-based philanthropic organization. That includes removing tariffs on US goods and aligning on a lot of other US policies “which could mean anything and everything,” she said.
“And in exchange for what?” Elms said. “This is a bit of a puzzle.”
The “one-sided” deals carry “clear costs and vague benefits for Southeast Asia,” Bloomberg Economics’ Tamara Henderson and Adam Farrar wrote in a note. “The agreements seem set to roll back tariffs and regulations on US goods coming into Southeast Asia —a threat to domestic industry already feeling the squeeze from broad US trade tariffs.”
Looming over the deals is the tariff wall Trump erected against China, and his upcoming meeting Thursday with its leader, Xi Jinping.
The trade deals are crucial for the Association of Southeast Asian Nations, the 11-member grouping known as Asean. The bloc is now a larger supplier of goods to the US than China, which has a GDP more than four times as large as Asean’s roughly $4 trillion.
Asean is also forging closer trade ties with China. On Tuesday, the bloc’s leaders signed an upgraded free trade agreement with Beijing at the Kuala Lumpur summit.
By far the biggest contributor has been Vietnam, which accounted for about $18 billion of the $41 billion in regional exports to the US in July, the latest month of available data.
“The details are still scant, such as goods Vietnam will get special exemptions for or rules of rerouting,” said Trinh Nguyen, senior economist for emerging Asia at Natixis. “But the general spirit is that there is a deal, and Vietnam is in the game of trade to the US for the long-haul, even if there is heightened US-China tensions.”
Jamieson Greer, the US trade representative, said some tariff exemp -
India state refiners weigh up Russia oil options after sanctions
By Rakesh Sharma
INDIA’S state-run refiners are considering whether they can continue to take some discounted Russian oil cargoes by leaning on small suppliers instead of energy giants Rosneft PJSC and Lukoil PJSC, both blacklisted by the US last week.
Since the latest round of US sanctions was announced, refiners including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. have stayed out of the market for Urals crude, Russia’s benchmark grade. They are instead waiting for government direction and weighing their options, according to senior refinery executives.
With other major producers Surgutneftegas PAO and Gazprom Neft blacklisted earlier, processors are trying to understand exactly how much can be bought from nonsanctioned entities in Russia and at what price, said the executives, who asked not to be identified as they’re not authorized to speak publicly. They are also trying to
understand how much of Rosneft oil will be channeled through other entities.
Together, the four sanctioned firms accounted for more than 80% of India’s Russian oil imports in 2024, according to Kpler data.
India’s refiners would usually be actively negotiating with Russian oil sellers this week, heading into November loading and December delivery.
Instead, flows of Russian oil are expected to plunge, with private refiner Reliance Industries Ltd. seen among the hardest hit, as for much of this year it has procured Urals via a term contract with Rosneft. Since Washington laid out its sanctions plan, Reliance, the single-largest buyer of Urals in India until now,
Venezuela halts Trinidad gas deals over US alliance
VENEZUELA revoked energy deals with neighboring Trinidad and Tobago for its support of a US military offensive in the Caribbean, potentially raising the economic cost of the twin-island nation’s alliance with the Trump administration.
Speaking on state television
Monday evening, President Nicolás Maduro revoked an energy framework agreement with Trinidad that allowed the two countries to forge gas deals. Venezuelan Vice President and Oil Minister Delcy Rodríguez had made the proposal earlier on Monday.
“Faced with the Prime Minister’s threat to turn Trinidad into the aircraft carrier of the US empire against Venezuela, against South America, there is only one alternative,” Maduro said in his weekly program on state
TV. “It is completely suspended.”
Maduro said he would deliver the proposal to the Supreme Court, National Assembly and State Council to receive their recommendations before taking “a structural measure” very soon. Trinidad needs Venezuelan gas to replenish supply to the industrial backbone of its fragile economy. However, when Rodríguez first made the threat on Monday, Trinidad’s Prime Minister Kamla Persad-Bissessar told AFP that the country’s future “does not depend on Venezuela
and never has.”
Trinidad’s government has developed a “hostile attitude” and a “warlike plan” against Venezuela, Rodríguez said during the afternoon, by “siding” with the US’s “military agenda.”
Persad-Bissessar has previously said she welcomed the US offensive on drug traffickers, calling for them to be killed “violently.”
Her posture has alienated Trinidad from other English-language countries in the Caribbean that have insisted on maintaining the region as a “zone of peace.”
Venezuelan rhetoric is escalating as the US advances a military campaign, blowing up purported drug boats and pointing a finger at Maduro and, increasingly, Colombian
Trinidad needs Venezuelan gas to replenish supply to the industrial backbone of its fragile economy. However, when Rodríguez first made the threat on Monday, Trinidad’s Prime Minister Kamla Persad-Bissessar told AFP that the country’s future “does not depend on Venezuela and never has.”
President Gustavo Petro for allegedly flooding the US with fentanyl and cocaine.
The US is ramping up its deployment in the southern Caribbean, with a guided missile destroyer docking in Trinidad on Sunday, according to CBS News.
tions on exports like coffee would “make sense to give them a good deal” on things that aren’t made in the US.
Another key unanswered question is how the US will determine what it considered a “transshipped” good, which are subject to 40 percent tariffs, and whether that levy would be in addition to the reciprocal rate already imposed.
That punitive duty is designed to discourage the rerouting of goods from China to avoid higher tariffs, but the lack of details about what it entails has been a source of ongoing uncertainty for manufacturers and authorities. Malaysia’s Trade Minister Zafrul Aziz indicated in a briefing Sunday that the issue hasn’t been resolved.
Cambodian Deputy Prime Minister Sun Chanthol said the country was “pleased” with the deal but still hoped for exemptions on garments and footwear, which make up about 50% of the country’s exports.
Thailand’s Commerce Minister Suphajee Suthumpun noted in a statement that the framework is non-binding and detailed talks will follow, with the aim of concluding negotiations by the end of the year.
Malaysia’s Zafrul said the deal offers better access to US markets, exemptions for Malaysian palm oil, cocoa and pharmaceuticals. Prime Minister Anwar Ibrahim also indicated the US would be willing to negotiate on tariffs on semiconductors.
“It’s much better than what I expected—the trust, the friendship and the commitment to enhance relations,” Anwar said of talks with Trump. With assistance from Francesca Stevens, Avril Hong, Suttinee Yuvejwattana, James Mayger, Nguyen Dieu Tu Uyen and Karl Lester M. Yap/Bloomberg
India has been balancing the risk of secondary sanctions—and the need to secure a trade deal with the US—against the risks that come with allowing muchneeded ties to Russia to fray.
State refiners have yet to receive direction from the government, the executives said.
has rushed to snap up alternative crudes from the Middle East and US, in line with its state-owned peers.
The only exception in India could be Nayara Energy Ltd., which is backed by Rosneft and already sanctioned by Europe and the UK. It has not shown signs of curbing Russian purchases.
Buyers in China, Russia’s top customer, have long shown themselves to be more willing to turn a blind eye to sanctions—but even there large state-backed entities have avoided purchases in recent days, given the new risks.
The latest sanctions cancel out existing restrictions like the $60-abarrel price cap imposed by the Group of Seven nations, but they share the aim of making Russia’s trades harder, costlier and riskier—all without forcing a sudden supply shock that might spike global prices, according to officials familiar with the Trump administration’s strategy. India has been balancing the risk of secondary sanctions—and the need to secure a trade deal with the US—against the risks that come with allowing much-needed ties to Russia to fray. State refiners have yet to receive direction from the government, the executives said.
While the four sanctioned suppliers account for the lion’s share of Indian imports, Russia does have other smaller producers, including Tatneft PJSC and Sakhalin Energy. IOC, BPCL, HPCL and Reliance did not immediately respond to requests for comment. The oil ministry also did not immediately respond to Bloomberg queries. With assistance from Weilun Soon and Serene Cheong/Bloomberg
The Trump administration recently granted Trinidad limited permission to import Venezuelan gas after it had canceled an earlier approval in April. The on-and-off-andon-again waivers from US sanctions on Venezuela have shaken Trinidad, whose economy depends on exports of liquefied gas, petrochemicals and fertilizers.
“The Petróleos de Venezuela board has decided to propose the immediate termination of the energy cooperation framework agreement between Venezuela and Trinidad, which was signed in 2015 for a 10year term and renewed this year for another five years,” said Rodríguez, referring to Venezuela’s national oil company.
Since early September, US forces have disclosed attacks on 10 boats allegedly linked to drug trafficking, with at least 40 deaths. Bloomberg
Rodríguez’s latest broadside follows Venezuelan accusations over the weekend that Trinidad is involved in a “false flag” plot with the US to stage an attack on Trinidadian soil. Maduro later said that over the weekend, his government had arrested a group of mercenaries, allegedly “trained and financed by the CIA,” that were intending to carry out a “self-attack” on the USS Gravely, which docked in Trinidad’s capital Sunday. He added that his government had provided all of the proof to Trinidad’s government, and that it had “taken notes,” but said PersadBissessar was acting as the US’ “enabler” in the region.
Wednesday, October 29, 2025
2nd Front
BusinessMirror
PALAY FLOOR PRICE IMPACT HINGES ON GOVT PURCHASES
WHILE a floor price for government procurement of palay could serve as a benchmark to drive private traders and millers to follow suit, economists said its impact on farmers would hinge on the volume of government purchases.
This, after President Ferdinand Marcos Jr. issued Executive Order (EO) 100 which mandated the setting of a floor price for government procurement of unmilled rice as part of efforts to prop up farmgate prices which plunged to a low of P8 per kilo amid peak harvest.
“The EO 100’s floor price for government palay procurement could prompt private traders and millers to raise their offers, as it sets a reference point for the market,” University of Asia and the Pacific’s Center for Food and Agribusiness (CFA) Executive Director Marie Annette Galvez-Dacul told the BusinessMirror
“However, its effect will depend on the extent of government buying and local market dynamics,” she added.
For Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies (PIDS), said the temporary import ban imposed on foreign rice ship -
ments would have more impact on raising farmgate prices.
“No, [the EO 100 won’t influence private traders and millers to raise their palay buying prices] because government procurement is too small. There’s a bigger impact from the import ban,” Briones told this newspaper.
Earlier, Marcos issued an order that suspended the imports of regular and well-milled rice from September 1 to October 30, 2025.
The Department of Agriculture (DA) said the government would extend this import freeze until yearend.
Boost purchase MEANWHILE , Marcos also issued EO 101, which directed the full implementation of the Sagip Saka Act.
Under this, all government agencies, state universities, and local governments should procure food supplies directly from accredited farmer and fisherfolk cooperatives and enterprises (FFCEs).
These purchases would be exempt from standard bidding procedures under the newly enacted Government Procurement Act, which allows for faster and more direct transactions.
DBM: No adjustments yet in fiscal program, GDP goals
By Mary Jade Gale Jadormio
BUDGET
Secretary
Amenah
Pangandaman said the government has yet to make any adjustments to its fiscal program and growth targets despite ongoing concerns over floodcontrol projects and the slowdown in infrastructure spending.
“There are no adjustments yet. I think it’s still okay,” Pangandaman told the BusinessMirror, speaking partly in Filipino.
“For the growth, the technical working committee will still have a meeting. They haven’t given us new figures yet,” she added.
The Department of Budget and Management (DBM) earlier reported that government infrastructure disbursements fell by 21.8 percent in August, reflecting delays in project implementation and procurement bottlenecks.
Despite this, the Development Budget Coordination Committee
(DBCC) is keeping its 2025 growth target at 5.5 to 6.5 percent, with a review of macroeconomic assumptions set later this year.
Finance Secretary Ralph G. Recto earlier warned that the government’s efforts to root out corruption in infrastructure projects could weigh on short-term economic momentum and cause the country to miss its growth goal.
Recto said the economy could expand below the lower end of the government’s target, citing the impact of slower public spending on ongoing projects.
“We could miss it—the 5.5 per -
Flood-fund mess a ‘major concern’ of investors
By Andrea E. San Juan @andreasanjuan
NVESTORS see the flood con -
Itrol issue as a “major concern,” according to the semiconductor and electronics industry, the Philippines’ top exporting industry.
“Major concern” was the term Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) President Danilo C. Lachica used as he revealed to reporters the real pulse of investors right now towards the Philippines especially amid the ongoing probe into the anomalous flood control projects. Asked if this could lead to inves-
tors “reconsider” investing in the Philippines, he added: “That’s always a possibility.” Lachica said more investments could have been attracted by the Philippines “if not for the uncertainty of the geopolitical wars and the US tariff.”
Topping this off is the recent multibillion-peso flood control mess, which has embroiled both the Executive and Congress, and sparked parallel investigations that some business groups describe as “too slow” in yielding results.
The industry leader of the semiconductor and electronics group said, “I would imagine [investments would have been bigger] be -
cause certainly investors look at... and this corruption thing didn’t help at all.”
Citing an instance, Lachica said one company was saying their customer was going to move the products in the Philippines but hesitated, raising the question: “How are you going to get past this international concern about the Philippines in terms of protecting the investments, continuing to secure dollar loans?”
At a forum last week organized by the Philippine Chamber of Commerce and Industry (PCCI), Ferdinand Ferrer, chairman of the PCCI Committee for Science and Technology, warned of potential diversion of investments
away from the Philippines if “nothing solid” comes out of the probe into the flood control mess. Currently, the official of one of the biggest business groups in the country said he has not heard of any diversion or loss of business due to the corruption scandal in the country but pointed out: “Will there be in the future?
I believe there could be if we do not act, if there’s nothing solid. If this one prolongs all the discussion, prolongs for months and months, I think not only semiconductor [will be affected] but also other investments.” (See: https://businessmirror.com. ph/2025/10/21/investorsmay-exit-on-flood-fund-mess/)
cent. We could hit 5.4 percent,”
Recto said during the Department of Finance’s budget hearing before the Senate Committee on Finance.
He said the economic slowdown could extend into the first quarter of 2026, but stressed that the reforms being implemented will yield stronger growth in the long term.
“The good news is, moving forward, all of that is on the upside because we are solving the problem [on infrastructure projects],” Recto added.
The DBCC earlier trimmed its 2025 growth assumption from 6 to 8 percent to the current 5.5 to 6.5 percent range, citing global uncertainties, tensions in the Middle East, and the imposition of new tariffs by the United States.
Recto noted that a potential slowdown in growth may also dampen revenue collection targets of the Bureau of Internal Revenue and the Bureau of Customs.
“Once you miss your GDP growth, naturally it affects your revenue target or tax revenues,” he said, adding that both agencies are expected to slightly miss their collection goals this year.
Despite these headwinds, DBM Undersecretary Joselito Basilio said the government remains confident that the growth target is achievable, supported by easing inflation, strong private sector activity, and continued fiscal discipline.
“Most likely, the targets will stay,” Basilio said in Filipino on the sidelines of the Fiscal Policy Conference. He said third-quarter growth is expected to reach around 5.5 percent, driven by improved consumption, lower interest rates, and a rebound in the agricultural sector. Basilio said fiscal consolidation will continue despite concerns about corruption, with the DBM coordinating with the Department of Finance, the Bureau of Internal Revenue, and the Bureau of Customs to strengthen revenue collection and budget execution. For now, Pangandaman said the government’s fiscal stance remains steady. The upcoming DBCC review, however, may determine whether the ongoing flood-control and infrastructure challenges will eventually prompt adjustments to the country’s fiscal program.
PBBM urges China: Use ‘restraint’ in maritime disputes
By Samuel P. Medenilla @sam_medenilla
KUALA LUMPUR—While pushing for economic cooperation between the Association of Southeast Asian Nations (ASEAN) and Beijing, President Ferdinand Marcos Jr. also called on China to exercise “restraint” in settling maritime disputes.
The chief executive carefully treaded between the lines of backing ASEAN’s position of more partnerships with China and defending the country’s sovereign rights in the West Philippine Sea, which is being encroached on by Chinese ships.
Marcos backed the signing of the ASEAN-China Plan of Action to Implement the ASEAN-China Comprehensive Strategic Partnership (2026-2030), which he said will help “modernize trade practices and effectively respond to emerging economic challenges.”
He also expressed optimism that other ASEAN-China joint initiatives like the 22rd China-ASEAN Expo (CAEXPO), Memorandum of Understanding (MoU) between ASEAN and China on Cooperation to Combat Transnational Crime, and the ASEAN-China Year of People-to-People Exchanges (ACYPPE) will bear good results for all.
“I look forward to further strengthening mutually beneficial sociocultural cooperation and promoting closer people-to-people ties in various areas, including culture, education, tourism, sports, and technical and vocational education and training,” Marcos said at the 28th ASEANChina Summit in Malaysia, which concluded on Tuesday.
The President, however, remained firm and consistent with his protest against the unilateral declaration of China to turn the Bajo de Masinloc as a “nature reserve,” as well as the harassment by Chinese ships of Philippine sea vessels and air craft which pass through the West Philippine Sea.
Bajo de Masinloc or Scarborough Shoal is a coral atoll within the Philippines’ 200-nauticalmile Exclusive Economic Zone, which is stipulated in the United Nations Convention on the Law of the Sea (UNCLOS).
The 2016 arbitral ruling, however, stated that Bajo de Masinloc is a traditional fishing area, which can be used by other fisherfolk from other countries.
“It is regrettable that incidents in the South China Sea persist. Philippine vessels and aircraft continue to face dangerous actions and harassment,” Marcos said.
“This is made even more complicated by unilateral declarations of marine protection zones, such as the ‘nature reserve’ in Bajo de Masinloc or Scarborough Shoal, which is an integral and longstanding part of Philippine territory,” he added.
He urged China not to use force, which can spark unrest in the South China Sea, an important waterway.
“Otherwise, the failure to restrain provocative and dangerous actions further threatens the peace and stability that we have collectively built and cultivated over the years,” Marcos said. He reiterated that the completion of the Declaration on the Code of Conduct of Parties in the South China Sea (DOC) will help prevent the escalation of maritime disputes. This was proven, he said, by the bilateral Provisional Understanding with China regarding rotation and resupply (RORE) missions to BRP Sierra Madre in Ayungin Shoal or Second Thomas Shoal.
The agreement, he said, helped in the peaceful completion of 10 RORE missions.
“Of course, if we truly want a pathway for the South China Sea to remain a sea of peace, stability, and prosperity for all, we should not lose sight of the importance of self-restraint on everyone’s part,” Marcos said.
Editor: Jennifer A. Ng
First Gen: Govt support key to hiking geothermal output
By Lenie Lectura @llectura
SINGAPORE—First Gen Corp. is appealing for government’s full support to help the country reclaim the top spot as the world’s largest geothermal energy producer.
Speaking before the Asian Clean Energy Summit, First Gen Vice President and head of Strategy and Planning Jay Soriano said geothermal is the “unsung hero” of 24/7 renewables.
“When people picture clean energy, they imagine solar panels glit-
tering on rooftops or wind turbines spinning on hills. But beneath our feet lies the most reliable clean energy of all—geothermal. It doesn’t depend on the weather. It runs 24 hours a day, 7 days a week. It’s the steady heartbeat of a renewable grid. Yet geothermal often goes unseen
and undervalued. Why? Because it’s underground—literally three to four kilometers beneath us—and because regulations and incentives were designed to support more recent technologies, like solar and wind,” he said.
In his talk, Soriano said the country’s developed geothermal capacity stood at 1,935 megawatts (MW), of which over 1,200 MW comes from FGen’s geothermal arm, Energy Development Corp. (EDC).
Latest data indicated that the country’s geothermal ranking slipped to the third spot, lagging behind Indonesia (2,356 MW) and the United States (3,794 MW). Turkey ranked fourth with 1,682 MW. The Philippines was once the world’s largest producer of geothermal energy.
When asked what the country can do to improve its ranking, Soriano said the country’s regulatory frameworks need to support the expansion of the right energy mix, not just the scale-up of newer technologies.
“Our Energy Regulatory Commission still applies a fossil-fuel pricing model to geothermal. It’s like asking a marathoner to race under sprinter rules—they’re built differently, but both are athletes we need,” he said.
“If we want more geothermal in the mix…regulations must recognize its uniqueness—its upfront capital intensity, its baseload reliability, and its long lifetime of service.”
Continued on B2
Apeco seals deal for flagship project
By Andrea E. San Juan @andreasanjuan
THE Aurora Pacific Economic Zone and Freeport Authority (Apeco) has forged a tripartite deal with South Korea’s Yooshin Engineering Corp. and the Philippines’s Lordsbridge Resources Corp. to develop the Casiguran International New Port.
The port is regarded as a flagship infrastructure project that is expected to position Aurora province as a “key maritime gateway” to the Pacific.
The Aurora-based investment promotion agency said this partnership marks a “renewed phase” of Korea-Philippines cooperation, aimed at transforming Casiguran into a major logistics and trade hub connecting the country directly to Pacific shipping routes and the markets of Northeast Asia and Northern Pacific. Under the tripartite memoran-
Credit card for small biz owners launched
HOME Credit Philippines has partnered with Puregold Price Club for the Aling Puring credit card which could help unbanked Filipino merchants nationwide grow their businesses.
Sheila Paul, chief marketing officer at Home Credit said this is the firm’s first co-branded credit card.
“We’ve always said na ito talaga ang isang segment ng market kung kelangan talaga nila ang pang puhunan, pang build ng business nila and of course sa tulong ng Puregold, who’s been providing them all the goods that they need in the store, tamang tama that now they have a credit card partner with Home Credit,” Paul said.
Petr Lukosz, Home Credit Chief CRM Officer of Home Credit Philippines, said small-time business owners can benefit from its on-site approval scheme.
“First of all, it’s the on-site application and approval. If you look into how banks are doing it, no one else is doing the on-site approval. We really believe that our history allows us to really offer this card to the masses.” Andrea E. San Juan
dum of agreement (MOA), Apeco said Yooshin Engineering will lead the updating of the 2011 Korean Export-Import (KEXIM) Bank feasibility study covering technical, financial, environmental, and social aspects of the port project. According to Apeco, the Korean firm is currently involved in the 32.47-kilometer PGN Bridges connecting Panay, Guimaras, and Negros Islands and Conceptual Design and Construction Supervision of Cebu International Container Port, bringing its “expertise” in largescale infrastructure projects to the Casiguran International New Port development.
Meanwhile, the agency said Lordsbridge Resources will serve as the developer and funding coordinator, engaging Korean and international financial institutions, while Apeco will provide policy, logistical, and data support for the study.
In a 2011 feasibility study, Lords-
bridge identified Bangas Point in Casiguran Bay as an “optimal site” due to its deep waters and natural protection from typhoons.
According to the old port study, the Casiguran Port would cost around $56 million. Adjusted for inflation, the current investment needed to build the infrastructure would be around $83 million or P4.7 billion.
The KEXIM Bank feasibility study noted that the port will feature multipurpose berths, passenger and fishery wharves, and supporting facilities.
It is expected to handle over 1 million tons of cargo annually once operational, serving as the logistics backbone of the Apeco Freeport.
The updated study will support the project’s funding applications and development framework for Korean official development assistance (ODA) and/or private sector investment.
The development will proceed in phases, starting with the updated feasibility study in 2025–2026, followed by design and regulatory approvals in 2026-2027, construction and development in 2027-2030, and full construction targeted for completion by 2030, Apeco noted.
Apeco, located in Casiguran, Aurora, is the only Philippine economic zone with direct access to the Pacific Ocean.
The ecozone said it aims to be the country’s first national defense hub, a clean energy center, and the Fishing Capital of the Pacific—aligned with the push of the Marcos administration for national security, energy security, and food security.
The MOA was signed by Apeco President and CEO Gil G. Taway IV alongside Yooshin Director and Philippine Regional Representative Jin Ho Lee and Lordsbridge Resources President Victor Lee on Tuesday in Taguig City.
Eternal Gardens parks ready to welcome visitors for Undas 2025
Esures to ensure the safety, security, and comfort of all park-goers.
To promote an organized and meaningful visit, Eternal Gardens has released a full set of advisories and guidelines through its official Facebook page and posted reminders via tarpaulins and park announcements. Information booths and first aid stations will be set up in strategic areas inside the parks, and food and non-food concessionaires will be available to serve visitors throughout the commemoration.
“Our mission has always been to provide a peaceful and safe haven for families to honor and remember their departed loved ones,” said Eternal Gardens President Numeriano B. Rodrin. “Undas is a sacred Filipino tradition, and we want to make sure that every visit to our parks is meaningful, orderly, and filled with reverence.”
Continued on B2
DBy VG Cabuag @villygc
MCI Homes Inc., the property development arm of engineering conglomerate DMCI Holdings Inc., said it expects sales of its upscale Fortis Residences development to accelerate this year.
Officials said the company sold only 14 percent of the 39-storey, 576-unit residential development, or about 80 units. Turnover of the units is scheduled in 2027.
The company sells the condominium for an average of P250,000 per square meter. According to the company, this is cheaper than its premier counterparts within the area.
A topping-off ceremony was held last Tuesday, signaling the completion of the construction work for the building.
DMCI Homes President Alfredo Austria said construction work will now shift to masonry and finishing in preparation for the scheduled start of unit turnover in December 2027.
“We are proud to see another DMCI Homes development taking shape in the Makati skyline. Fortis Residences reflects DMCI Homes’ consistent approach to quality— rooted in DMCI’s renowned engineering excellence.”
DMCI is investing about P10 billion in the development, located along Chino Roces Avenue in Makati. The company said it will have two towers, the other one will be a 15-storey office building, which will start construction soon and will be finished by 2028.
Envisioned as a modern landmark of sophistication and success, Fortis Residences is the second development under the DMCI Homes Exclusive after Oak Harbor Residences in Jackson Ave, Asiaworld City, Parañaque.
DMCI Chairman Isidro A. Consunji, who led the top-off ceremony, said that while the property market right now is “rather slow,” the company will continue to develop projects and do some land banking activities.
“And we have a lot of land-banking. And together with our sister companies, we have several lots along this line and other places. We haven’t made up our mind how to go forward,” Consunji said.
DMCI’s history in Makati dates back to the late 1950s, when Consunji’s late father, Engr. David M. Consunji, led the construction of the first four buildings in the Makati Business District. As with all DMCI Homes developments, resort-inspired amenities anchor the lifestyle experience. A 3,000-square meter of groundlevel open space also hosts a leisure pool, lounge areas and a children’s play area.
Amenities on the roof deck offer more ways to stay active or unwind such as a basketball court, fitness gym, Sky Promenade, and enclosed Sky Lounge.
The company said it will continue to develop the premier brand in the country. It will have a third condominium in Baguio Country Club, in Camp John Hay.
SBy Lorenz S. Marasigan @lorenzmarasigan
MART Communications Inc.
has partnered with satellite operator Lynk Global to make mobile communication possible even in areas without cell signal— a move that could transform how Filipinos stay connected during disasters or in remote parts of the country.
Under the partnership, Smart will tap into Lynk’s Direct-to-Device (D2D) satellite network, which allows ordinary mobile phones to connect directly to satellites without the need for special equipment.
The initial rollout will enable users to send and receive SMS and access messaging apps such as WhatsApp even when cell towers are unavailable. Once the network is fully deployed in the coming years, it will support full mobile voice and data connectivity.
“This isn’t a simple technology play for us. We think this will transform lives,” PLDT Inc. COO Menardo
G. Jimenez said. “We’re trying to be there for all Filipinos. Whether they’re talking to family abroad, or standing on a rooftop during a flood, requesting for assistance.” The collaboration will begin with laboratory tests, roaming integration, and field trials before a phased rollout.
“We will begin by linking our core systems and move toward live field testing, using Smart’s spectrum to reach farther areas and prioritizing coastal and mountain barangays and key maritime routes while ensuring that connections are secure, reliable and stable,” Smart Head of the Network Strategy and Transformation Office Radames Zalameda said. James Alderdice, Lynk Global VP for Asia Pacific, said the company is “more than excited” to work with Smart to bring satellite connectivity directly to mobile phones.
“Lynk’s technology is designed to extend mobile coverage everywhere, supporting Smart’s mission to keep communities connected, even when disasters strike.”
TERNAL
DMCI Holdings Chairman Isidro A. Consunji (fourth from left) leads the topping-off ceremony of Fortis Residences, an upscale 37-storey condominium by DMCI Homes, on Tuesday, October 28, 2025, along Chino Roces Avenue, Makati City. The project is part of DMCI Homes Exclusive, the developer’s premium line of residences. Joining him are executives Adrian Calimbas, Dennis Yap, Evangeline HernandezAtchioco, Bernard Umali, Leigh Guenez-Ignacio, and Oscar Ofiana Jr. PHOTO BY: NONIE REYES
Academic flags lag in health spending
By Erwin James Gianan Intern
BETTER coordination, synchronicity and oversight of national agencies on local governments could fix inefficiencies and boost healthcare delivery to Filipinos, an expert said.
In a presentation last Monday, Maria Eufemia C. Yap said despite the expanded fiscal space for delivering health services due to reforms such as the Universal Healthcare Law and amendments to the National Tax Allotment (NTA), local governments still reported inefficiencies.
“You go across the different provinces and municipalities in the country and they’re always saying [their funds for the health sector are insufficient],” Yap, senior research fellow at the School of Government of the Ateneo de Manila University, said. “Spending lags appear where process owners are fragmented and off-budget or extra-budgetary flows are not synchronized with planning and this is a fiscal governance issue.”
According to Yap, these inefficiencies translate into unattained healthcare targets like maternal mortality and fluctuating vaccination rates.
“It’s hard to translate [these inefficiencies] into pesos but, to say that if the country spends, like what they said in [a] PSA [Philippine Statistics Authority] study [in] 2024, that around P12,000 is being allocated to primary health care per person,” she said.
However, Yap said that in the areas they studied, “although it’s not really apples to apples, [it was] only like P400, P500 per person, which is a very far cry from what the PSA said is the spending on primary health care.”
Yap’s research focused on areas in the cities of Quezon and Isabela, Antique province and the municipalities of Odiongan and Belison. The research found that municipalities relied on the NTA for up to 95 percent of health funds.
In terms of the flow of funds, they also found that local governments pour most of their health budget, about 80 percent, to personnel services, while the Department of Health (DOH) supplied inputs like commodities and facilities.
“When it comes to meeting expected standards of care, especially at the primary healthcare and primary care level, we cannot yet say that availability and quality have been fully achieved and from a spending perspective, this indicates poor investments in primary healthcare and primary care,” Yap said.
She highlighted misaligned tools, templates and calendars between local government units (LGUs) and national agencies as the “choke points” that hindered effective healthcare delivery, while also citing the “learned dependency” of the LGUs on the DOH through the Local Government Code.
“’If your LGU cannot handle the services that you’re supposed to deliver, who you gonna call? [The] national government.’
It has created the learned dependency of the LGUs. because the LGUs will say, ‘we won’t anymore budget for new personnel or fill in this post, [the] DOH will give us,’ and so they don’t anymore think about really how they will handle the delivery of the health services,” Yap added. To combat the issue, Yap emphasized synchronicity in timing and templates between LGUs and national agencies like the DOH, the Department of Budget and Management and the Philippine Health Insurance Corp.
“We’re hoping when we present to Secretary [Amenah F.] Pangandaman that we can really make a play for having a program convergence budgeting approach for the health, particularly for the special health fund, so that we can synchronize and rationalize resource flows by organizing a backbone for tagging, for downloads, creating predictable flows tied to service packages, interfacing with budget tagging, allotment, downloads, performance reporting,” the academician said.
Yap is proposing an oversight and accounting group chaired by the Coordinating Committee on Decentralization to ensure transparency and proper coordination between the government players.
“With one clock, one set of templates and a firm oversight accounting spine, pesos are easier to track, to release and to pay, which is the heart of fiscal integrity,” she added.
Banking&Finance
Pre-need industry income grows 84.67%
By Reine Juvierre Alberto @reine_alberto
THE pre-need industry posted an 84.67-percent increase in its net income as of the first half of the year, according to the Insurance Commission (IC).
data from the IC showed that the
of 13 licensed pre-need firms reached P5.321 billion from January to June this year from P2.881 billion in the same period last year. The figure, nonetheless, is a far cry from the heydays of the industry at the start
of the Millennia, when sales of preneed plans hit P36.8 billion in the year 2000.
However, after the financial collapse of the College Assurance Plan Philippines Inc. in 2008, the preneed industry’s net income reached a paltry P354.985 million. Reports in 2008 also cited a trust fund deficiency of P46.83 billion in the industry as of June that year.
Seventeen years later, the industry’s trust funds exceeded pre-need reserves by P16.613 billion as of end-June, higher by 112.13 percent than the P7.831 billion recorded in the same period in 2024.
EastWest expands further into SME market
By VG Cabuag @villygc
THE East West Banking Corp. is expan6ding further into the small and medium enterprise banking space with the launch of a new debit card geared toward into the sector, the Gotianun-led lender’s chief executive officer announced.
Jerry G. Ngo said during the launch last Tuesday that the country’s first debit card for business will give owners tools to run their trade. The card, called “BizAcess Visa Debit,” gives customers a checking account with minimum maintaining balance of P25,000. It will give them access to the bank’s platform that will let them view balances, monitor transactions, pay suppliers and manage cash flow.
The debit card includes a travel accident insurance, among other perks.
“We’ve already realized that a lot of our customers are using our ser-
vices for their own. Our personal loan business is being used for mefunding, a lot of our business banking clients are already SMEs. What this gives us lang right now is really a step-up offering,” Ngo said.
He said there is no exact data on how SMEs manage their funds as the owners’ personal money is mixed into the business.
“Right now, we don’t have a clear view because apparently we’re really not something that’s being packed. Our consumer portfolio is now 84 percent of our total book. And what we’re hoping to do is through this initiative, through this new set of product services and value proposition is to formalize that (funds used for SME’s enterprise,” Ngo said.
He said the decision to go deeper into the SME segment is that most of the country’s enterprise composed of these businesses and only 0.5 percent came from large corporate conglom-
erates and multinationals combined.
“But more importantly also, a lot of the SMEs are also individuals themselves, and run their business as a family affair. So normally you would also tap into that,” Ngo said.
He said many of the SMEs are failing, which is why the bank should support the,
“But the fact is that the banks will only support if there is data. But we don’t know who are those that is scaling up as opposed to those who are just starting,” he said.
The debit card is just a start, Ngo said, as the company is launching a lending product geared towards the SMEs.
“Nothing beats having your own business. Longer term, the returns to capital is so much higher than returns to labor. I would know,” said Ngo, who admitted he was once an entrepreneur for four years, before going into East West.
GSIS’s income grew to ₧112B
THE Government Service Insurance System (GSIS) saw its net income reach P112 billion as of the third quarter, beating its target for the period on higher revenues and lower expenses.
A statement issued by the GSIS last Tuesday read that the state pension fund manager’s net income grew to P112 billion as of end-September, up by P12 billion from P100 billion a month earlier. This figure exceeded the GSIS’s net income target of P76.6 billion for the period by P35.4 billion.
Total revenues for the first nine months reached P260 billion, which surpassed the goal of P241.8 billion by P18.2 billion.
The GSIS kept its total expenses at P148 billion, below the P165 billion budget for the nine-month period by P17 billion. Administrative costs were also maintained at 2.5 percent, which is within the 12-percent limit mandated by the GSIS Charter.
According to the GSIS, this low ratio ensures that the pension fund’s resources are primarily allocated to its core mission of serving its members.
The GSIS’s total assets also climbed to P1.93 trillion, up by 5.7 percent from its 2024 year-end level.
“The numbers reflect the current state of our financial health. Our net income is a clear indicator of our consistent growth and stability,” GSIS President and General Manager Jose Arnulfo A. Veloso was quoted as saying in the statement.
“Our financial health is robust,”
Veloso added. “Our focus is on building a resilient institution that delivers for its members, and these results confirm we are on the right track.”
The GSIS is a social insurance institution that provides a defined benefit scheme, insuring its members against the occurrence of certain contingencies in exchange for their monthly premium contributions.
All government workers are covered by the GSIS except members of the Judiciary and Constitutional Commissions, who are covered by
as of Q3
separate retirement laws, contractual employees who have no employee-employer relationship with their agencies and uniformed members of the Armed Forces of the Philippines and the Philippine National Police, including the Bureau of Jail Management and Penology and the Bureau of Fire Protection.
GSIS members are entitled to an array of social security benefits, such as life insurance, for separation or upon retirement and for disability.
Reine Juvierre S. Alberto
‘Confidence in lending process important’ ➔ THE chief financial officer of Fuse Financing Inc., the lending arm of GCash operator G-Xchange Inc., highlighted recently that building confidence across the entire lending process as the key to unlocking funding partnerships. “For GCash, the essential unlock was demonstrating to our partners that the end-to-end system—from acquisition and underwriting to collections and recoveries—is consistently effective, reliable, and working really well,” Gabby Lacuesta said at the 5th Asia Finance Forum, hosted by the Asian Development Bank (ADB) at its headquarters in Manila. Reflecting on Fuse’s trajectory, Lacuesta highlighted the
Investment in trust funds rose by 9.39 percent to P145.607 billion, while pre-need reserves, including benefit obligations, inched up by 2.97 percent to P128.994 billion.
Meanwhile, plans sold by preneed companies increased by 29.47 percent to 424,467 in the first six months of the year from 327,841 a year ago.
Most of the plans sold were life plans, accounting for 99.82 percent of the total. This was followed by pension and education plans.
Total assets of the pre-need industry amounted to P168.361 billion as of end-June, 7.23 percent higher than last year’s level of P157.016 billion.
Pre-need firms’ total net worth also rose by 26.81 percent year-onyear to P31.581 billion from P24.904 billion. The industry’s total assets reached P168.361 billion, while its total liabilities stood at P136.780 billion.
Pre-need firms earned P11.486 billion from premiums in the first half of the year, up by 2.82 percent from the previous year’s P11.171 billion. Ten pre-need firms have reported premium collections out of the 13 companies, according to the IC.
Proptech: Matching banks and builders with buyers
PROPERTY technology, or “proptech,” is the digital transformation of real estate benefitting homebuyers and renters through easier search and secure transactions, as well as bringing advantage to developers and investors through better data and automation.
In the Philippines, the first wave of proptech started in 2011 and focused mainly on online property listings. The second wave began in 2015 when banks and developers embraced online booking and payment portals. However, the Covid-19 pandemic forced the real estate industry to digitize rapidly, which made proptech expand into digital land records, construction monitoring and bank integration for home financing.
By 2023, collaborations among banks, developers and fintech startups turned proptech into a full ecosystem—spanning digital payment gateways, real estate analytics, smart community management and end-toend property platforms. With the rise of artificial intelligence this year, AI valuation tools have also emerged in the proptech sector.
The Philippines’s pioneering mortgage brokerage platform known as MatchMo was founded in 2021 by Kevin Christian Y. Carreon, who serves as CEO of Snapp Ventures Inc., MatchMo’s operator. Over a span of four years, it has grown into a nationwide ecosystem that connects buyers, developers and financial institutions—streamlining the path to home ownership for thousands of Filipinos.
Carreon disclosed during an interview with ANC’s “Market Edge” show in 2023 that MatchMo received a P30 million seed investment from Insignia Venture Partners LP Pte. Ltd., a Singaporean venture capital firm that focuses on early-stage tech startups in Southeast Asia. With this funding came the announcement that the company would be shifting from a mortgage matchmaker to a proptech platform.
Now a leading innovator in the proptech sphere, MatchMo is a trusted B2B partner for builders in managing client loan processing seamlessly, while ensuring that homebuyers obtain the best loan packages and transparent comparisons through strong partnerships with 22 banking institutions.
Last week, MatchMo hosted “Beyond the Build 2025” in Taguig City. It brought together CEOs, industry leaders and top executives to honor excellence and collaboration in the property and financing sectors. The evening affair was co-presented by the Bank of the Philippine Islands, which highlighted its role in supporting developer partnerships and innovation in the home financing landscape. Underscoring MatchMo’s mission to connect and strengthen linkages in the financing and homebuilding chain, the event featured a showcase of partner exhibitors including the BPI, the Bank of Makati Inc., BDO Unibank Inc., FJ Security Agency Inc., NDM Sanchez Builders & Development Corp., the Rizal Commercial Banking Corp., Security Bank Corp., the company behind “The Drapery Studio” and World Home Depot Corp. Industry visionaries were honored during the event, which was capped by the official launch of the “MatchMo Ecosystem,” an all-in-one suite of tools designed to transform partnership and efficiency. The new platform provides developers with unmatched data clarity and seamless operational flow. According to MatchMo Head of Engineering Rain Serinas, it is “a crystallization of our promise to the industry in empowering developers to move faster, decide smarter and build with absolute confidence, ensuring every project is delivered with maximum efficiency and compliance.” Among the finance-focused proptech companies in the country, MatchMo ranks high for direct mortgage integration. Some of its developer partners are Landco Pacific Corp., Filinvest Land Inc. and Pueblo de Oro Development Corp. It makes home financing simple and accessible by connecting buyers with the best loan options from the Philippines’ top banks—turning every Filipino’s dream home into a reality. Eventually, proptech will pave the way for data-driven tools such as blockchain-based smart contracts for property transfers, 3D printing of housing materials, predictive modeling for investment decisions and sustainability platforms that track carbon footprints for green certifications.
importance of financial discipline in pursuing growth. “Where we are now would not have been possible without the different avenues for funding that we raised and developed along the way, including off-book lending,” he said. “For GCash, the experience has been really about balance.”
➔ Bulacan co-op office head bags award CITY of Malolos—The Provincial Cooperative and Enterprise Development
Joseph Gamboa is chairman of the Media Affairs Sub-Committee on Publications of the Financial Executives Institute of the Philippines and a director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror #FinexPhils finex.org.ph.
erative Development Officer (Provincial
The CDA-conferred award highlights Amil’s admirable performance in leading Pcedo to advancing cooperative movement in the province through dynamic leadership, innovation, and community empowerment, a statement by the Pcedo read. “[This] recognition serves as an inspiration for
Quezon City.
Office (Pcedo) of the Provincial Government of Bulacan announced that its department head Jayric L. Amil bagged the first place in the search for “Outstanding Coop -
Category)” by the Cooperative Development Authority (CDA).
Bulacan’s cooperative sector to continue fostering sustainable development and strengthening partnerships for inclusive growth,” said Amil, who is also a lawyer, during the CDA’s “Gawad Parangal Awards 2025” ceremony held on October 24 in
Joseph Araneta Gamboa
HE MADE HIS CHOICE
THE young male starlet would have been included in a reality show if only he did not fail a drug test. The reality show has very stringent requirements before anyone is accepted. These requirements include psychlogical and drug tests. The starlet had always indulged in prohibited substances but weeks prior to the drug test, he was told by his parents to stay clean because the reality show could be the big break he was waiting for. Of course, he did not listen and ended up not getting his big break. This is the same male starlet who figured in a fight against an older male starlet at a big event. They were joking around until the older starlet became annoyed and tried to hit the younger one.
YOUNG AND YOUTHFUL
WHY is no one talking about the actor-politician who impregnated his ex-wife when she was below 16 years old?
The girl would give him money because he was struggling financially at the time and was practically homeless. During that time, love affairs between adults and minors were somehow acceptable. When he became famous, he started cheating on her with more famous women and eventually dumped her. He remarried and, unsurprisingly, the new wife is also younger. He even once said in an interview that looking at his young wife when he woke up was a source of joy to him.
To be fair, the new wife was not a minor when they met but she was still so much younger than him. Hopefully, she will be his last love.
NEW LOVETEAM?
THE young actress’ transfer to another network was smoothened by an offer of more money and no one can blame her. Everybody needs to make an honest living and she is no exception. She is also her family’s breadwinner. The network that made the oh-so-tempting offer wants the actress to be the screen partner of a male starlet in future projects. The male starlet is rumored to be a powerful man’s protege. The benefactor is said to be moving heaven and earth to make the starlet a big star. The starlet is good-looking and talented so that should not be too difficult. However, superstardom is more than just about good looks and/or talent. It’s about being at the right place at the right time.
LAUNDERER?
THE once-top celebrity endorser and brand ambassador was highly sought after for premium projects and high-value brand deals. However, her career took a downturn due to politics, cutting off major opportunities. While she still has some savings and investments, it has been years since she landed a big project. Recently, rumors have spread that she and her family are allegedly involved in money laundering—buying small businesses to clean VIPs’ money, then claiming they’re investing to help and support local ventures. Many find their actions suspicious, and it may only be a matter of time before authorities investigate.
Show BusinessMirror
Adam Driver on ‘Star Wars’ and putting filmmakers first
NEW YORK—Props, mementos and photographs adorn Adam Driver Brooklyn office. There’s an artwork Jim Jarmusch gave him for his 40th birthday, the doll from Leos Carax’s set photographs, including one of Driver and his son in the Millennium Falcon.
“A friend who saw all this said: ‘Oh, so you care,’” Driver says, chuckling.
Driver, 41, can come off as stoic but his passion for movies and, in particular, the filmmakers who make them, runs deep. In a relatively short amount of time, he’s worked with a litany of one-name directors: Scorsese. Coppola. Spike. Mann. Spielberg. Jarmusch. Soderbergh.
In a movie age where franchises, not filmmakers, have ruled the industry, Driver has stayed remarkably loyal to directors compelled to make personal films. He gamely followed Francis Ford Coppola into Megalopolis his decades-long passion project,
This fall, he co-stars in his third Jarmusch movie, the Venice prize-winner Jarmusch needed to do was ask, Driver says, and he was in, no matter the role.
While Father Mother Sister Brother New York Film Festival, Driver met a reporter shortly before leaving to Budapest to shoot with Ron Howard. It’s a meaningful film for Driver, a former Marine. In it, he plays John Chapman, an Air Force combat controller who was killed fighting in Afghanistan in 2002.
By Eugenia Last
“It deals with character and story and—just tying it with Father Mother Sister Brother—that’s why I like these filmmakers so much,” Driver says. “They’re seemingly few and far between and are making films that feel like they were directed by a person.”
But Driver’s faith in filmmakers isn’t always shared by the powers that be in the industry. He revealed that he and Steven Soderbergh spent two years developing a Star Wars film that was ultimately nixed by the Walt Disney Co.
“I always was interested in doing another Star Wars,” says Driver, who starred as Kylo Ren in the trilogy kicked off by The Force Awakens “I had been talking about doing another one since 2021. Kathleen [Kennedy] had reached out. I always said: With a great director and a great story, I’d be there in a second. I loved that character and loved playing him.”
Driver says he took a concept to Soderbergh for a film that would take place after 2019’s The Rise of
Skywalker That movie culminated in Ren’s redemption and apparent death. Driver had undertaken the trilogy with an arc in mind for Ren that inverted the journey of Darth Vader. As the trilogy evolved, it didn’t play out that way. Driver felt there was unfinished business for Kylo Ren, or as he was known before turning to the Dark Side, Ben Solo.
“We presented the script to Lucasfilm. They loved the idea. They totally understood our angle and why we were doing it,” Driver says. “We took it to Bob Iger and Alan Bergman and they said no. They didn’t see how Ben Solo was alive. And that was that.”
“It was called ‘The Hunt for Ben Solo’ and it was really cool,” adds Driver. “But it is no more, so I can finally talk about it.”
Soderbergh, in a statement, said: “I really enjoyed making the movie in my head. I’m just sorry the fans won’t get to see it.”
Representatives for Disney and Lucasfilm declined comment. AP
Puregold CinePanalo ‘26 lineup finalized; expect diversity, originality, and appeal for the films
BY PATRICK VILLANUEVA
DESCRIBED as “variety of food that you have to try because while everything is different, each have their unique and palatable taste” by Puregold festival director and awardwinning filmmaker/producer Chris Cahilig, the lineup for 2026 Puregold CinePanalo was finalized, with seven films being set for production to the big screen.
From 203 submissions, Puregold whittled it down to seven “unique” and “appealing” scripts to be realized for film, granting them each P5 million fund for production. Cahilig told media that they were very stern and discreet in selecting the scripts as they would be giving the winning filmmakers their biggest grant to date.
“Ilang linggo akong walang tulog kasi kinakailangan kong i-go through ‘yung 203. Initially, ako ‘yung nag-screen. ’Yung seven, grabe. Lalo na ‘yung last two to three slots, doon talaga
ang debate,” he added. True to the festival’s spirit of creativity and artistry, the films presented diversity in their concepts. Wantawsan by Joseph Abello follows a father’s love to his son through a P1,000 bill; Mono no Aware by BC Amparado is set in Japan, tackling a story of life and death, and the sadness of things; Apol of my Ai by Thop Nazareno will be a love rivalry between a dad and son who both fall in love with a teacher; Patay Gutom (Dead Hungry) by Carl Papa and Ian Pangilinan will experiment on different forms and themes of love; Beast by Lawrence Fajardo, on the other hand, entails a farmer’s story with his kalabaw (carabao) who decide to travel to Manila; Stuck on You by Mikko Baldoza follows a hopeless romantic “manicurista” who got an assassination assignment; Multwoh by Rodina Singh, finally, is an LGBT+ story about finding a way to say “I love you” from the afterlife to their lover.
“Diversity, originality of the story, and, at the same time, how attractive they are to international festivals and local markets. Are they crowd drawers?” Chris posited when asked what stood out about the seven entries of the 2026 fest.
Now in its third year, with their past films even competing at international filmfests, CinePanalo ’26 promises to deliver quality films that Chris Cahilig still hopes could reach local and international acclaim. “Gusto talaga naming makapasok sa mga A-list festivals, at gusto naming ’yung mga pelikula ay panoorin ng maraming tao,” he said.
Puregold senior marketing manager Ivy Hayagan-Piedad said the “upcoming 2026 Puregold CinePanalo is going to be the festival’s biggest installment yet.”
■ Learn more and be updated about Puregold CinePanalo through their Facebook page www.facebook.com/ puregoldcinepanalo.
22): You are ready to undertake an adventure. Ensure you are following a path dedicated to your advancement or something you are passionate about. When helping others, be sure to set a budget and boundaries, and get what you want in writing. You’ll get higher returns investing in yourself and your happiness. Romance is favored. ★★★★★
SCORPIO (Oct. 23-Nov. 21): Express your needs. It’s time to implement positive lifestyle changes. Communication is essential if you want to understand your relationship with others and determine whether it’s time to set boundaries or walk away. It’s up to you to create the life that suits you. ★★
SAGITTARIUS (Nov. 22-Dec. 21): Build toward a brighter future. Let go of what has no meaning for you, and gravitate toward what excites you and makes you happy. It’s time to invest in yourself, your dreams and what fills your heart with passion. Change is up to you; don’t look back, think positively and make things happen.
CAPRICORN (Dec. 22-Jan. 19): Rethink your motives and intentions, and how the choices and actions you take will influence others. Communicate honestly and directly with others before implementing your plans. Verify information before sharing. Listen, engage in talks and be open to compromise and alternative suggestions. ★★★
AQUARIUS (Jan. 20-Feb. 18): Embrace change, trying something new or changing your lifestyle or surroundings to suit your needs better. Make health, fitness or updating your appearance a goal, and you won’t be disappointed by the results. Self-improvement, personal growth and financial gains are on the rise. Don’t be shy; share your feelings and intentions with someone special. ★★★
PISCES (Feb. 19-March 20): Keep your plans to yourself until you have everything in place. Check into the legalities and protocols necessary to get your ideas and goals up and running. Attend events that bring you in contact with people who can shed light on procedures or connections that can make your life simpler. ★★★
BIRTHDAY BABY: You are sensitive, intelligent and energetic. You are curious and indulgent.
PWDS IN WORKFORCE EMPOWERED IN MANILA-BASED CONFERENCE
THE annual WorkAbility Asia (WAsia) Conference, a premier gathering of regional leaders and advocates on disability inclusion to promote employment for persons with disabilities (PWDs) across the continent, was recently held in Manila. Guided by the theme Inclusion at Work: Transforming Perspectives, Creating Opportunities, the De La Salle-College of Saint Benilde (DLS-CSB) hosted the event through its School of Deaf Education and Applied Studies (SDEAS).
It was conducted in collaboration with the Nippon Foundation. After a colorful parade of national flags, Silent Steps, the official Deaf dance group of Benilde SDEAS, took the stage with an inspiring performance.
The conference served as a platform for government agencies, NGOs, businesses, and educators to exchange strategies and successful projects. Among the relevant issues tackled during the discussion were policy reform, leadership development, inclusive recruitment, livelihood pathways, assistive technology, and mental health.
The event was graced by DLS-CSB president Br. Edmundo Fernandez, FSC, and WAsia chairman Dipesh Sutariya. Susan Scott-Parker, OBE HonD, founder of Business Disability International, delivered a comprehensive keynote speech on employer engagement. Meanwhile Colin Allen AM, honorary president of the World Federation of the Deaf, imparted his insights about moving “From Tokenism to True Inclusion.”
Arch. Erico Abordo, Architects for Accessibility Philippines co-founder, inspired the group in his master class titled “Inclusive by Design: Rethinking Accessibility in the Workplace.”
Speaker representatives from global organizations such as Accenture Philippines, Enable India, Eden Social Welfare Foundation Taiwan, and WOWLEAP Philippines likewise shared best practices which redefine the future of work.
Leading the charge for the Filipino Deaf community were faculty, alumni, and staff from the Benilde SDEAS Center for Partnership and Development, who presented pioneering research and practical models for Deaf empowerment, including career development programs, inclusive workplace assessments, and industry partnerships.
Aside from the plenary sessions, the delegates immersed in various cultural exchanges and industry visits, which gave them glimpses of Philippine institutions and companies which champion diversity and accessibility. As part of their real-world learning experience, the delegations visited the National Vocational Rehabilitation Center of the Department of Social Welfare and Development, Quezon City Kabahagi Center, Accenture Philippines, and Shell Philippines.
WAsia, which was founded in 2004 as the regional arm of Workability International, has 50-member organizations that cover 13 countries and regions, such as Bangladesh, Hong Kong, India, Japan, Macau, Malaysia, Nepal, Pakistan, the Philippines, Sri Lanka, Taiwan, and Thailand.
After a successful staging of the WAsia Conference in the Philippines, Japan will host next year’s edition.
Solaire
The bright side of a dull moment
BOREDOM often gets a bad reputation. It is that uneasy feeling that creeps in when time seems to crawl and nothing feels interesting enough to do. Many of us see it as a problem to fix right away. We reach for our phones, scroll endlessly, or look for instant distractions just to escape it. Yet boredom is not the enemy. In fact, when used well, it can become a quiet ally that fuels creativity, focus, and even emotional wellbeing. Making boredom work for you begins with understanding what it truly is and learning how to turn it into something meaningful.
Boredom is not a sign that life is dull. It is a signal from your mind that it is seeking stimulation or direction. Imagine it as an internal reminder that says, “You have space to think, to imagine, or to create.” When people say they get their best ideas in the shower or during a long walk, that is boredom at work. The brain, freed from constant noise, starts connecting thoughts in unexpected ways. Instead of filling every quiet moment, you can use it to recharge which opens the door to new ideas.
One practical way to make boredom useful is to let your thoughts wander intentionally. The next time you find yourself waiting in a long line or sitting through a slow afternoon, resist the urge to grab your phone. Instead, pay attention to your surroundings and notice how people interact, how sunlight moves across the floor, or how your own thoughts drift. These moments of mindful boredom can spark curiosity and calmness at the same time.
Boredom also teaches patience, which is a skill that has become rare in a world of instant gratification. When you sit with boredom instead of escaping it, you strengthen your ability to wait, to endure silence, and to reflect. This can be helpful in relationships, in work, and in personal growth. For example, if you are learning a new skill, there will be repetitive parts that may feel dull. Musicians practice scales, athletes run drills, and writers edit drafts. By accepting boredom as part of progress, you build discipline and resilience that lead to mastery.
You can also channel boredom into creativity. Think of it as raw material for imagination. Give yourself unstructured time and see what happens. Try doodling, journaling, cooking without a recipe, or rearranging your space. Some people discover hidden
passions during periods of boredom. A student on a long school break might start painting or learning guitar. A professional between projects might develop a small business idea or volunteer in the community. When your mind is not occupied by constant tasks, it finds room to explore new possibilities. Another practical approach is to plan boredom breaks instead of trying to avoid them. Set aside a few minutes each day to do nothing on purpose. Sit quietly with a cup of coffee, take a short walk without listening to anything, or simply stare out the window. At first it may feel uncomfortable, but over time it becomes refreshing. You give your mind a chance to settle and process thoughts that usually get buried under noise. This can lead to better decisions and a clearer sense of what truly matters to you.
It also helps to see boredom as a mirror. It reflects what is missing in your current moment. If you are bored at work, it might signal that you are not being challenged enough or that you need to learn something new. If you are bored at home, perhaps it is time to reconnect with hobbies or people who inspire you. Instead of judging boredom as a flaw, treat it as information that guides you toward change or renewal. Even children benefit from healthy boredom. Parents sometimes feel pressured to keep their kids constantly entertained. Yet psychologists note that unstructured time helps young minds
Resort North celebrates its culinary masters
WITH its nod to International Chefs Day last October 20, Solaire Resort North turns the spotlight on the talented chefs shaping its diverse dining destinations. Behind every plate, they bring stories of heritage, craft, and global finesse, turning Solaire Resort North a food lover’s dream in Quezon City and beyond. At Quezon Club, exclusivity and ambiance take center stage. There, chef January “Janu” Belardo, Solaire Resort North’s first female chef de cuisine, crafts modern Filipino dishes infused with elegance. Janu, who has been with Solaire Resort since 2017, rose through the ranks and sharpened her skills during an internship at Fontainebleau Miami, and even earned national and continental recognition in the Young Taken Escoffier competitions.
Trattoria e Dolci brings vibrant reinterpretations of Italian classics in a casual, convivial setting where guests can enjoy pastas, pizzas and desserts under chef Jose Mari “Joboy” Bitoon’s stewardship. He joined Solaire Resort in 2014 and worked his way up from Fresh to becoming Chef de Cuisine, blending comfort with refinement in every dish.
The atmosphere at Cafe Mangrove is inviting with a focus on all-day dining and well-curated offerings. chef Joel Ombi-on, new to Solaire Resort North in 2025 whose culinary experience has brought him to UAE and North America, whips up plates of global comfort food that appeal to discerning guests seeking both flavor and ease in every bite.
Fresh International Buffet is known for epicurean abundance and under chef Rodoflo “Jhun” Perreras, a Solaire Resort stalwart since 2013, gourmet delights continue to be created, from seafood towers to mouthwatering carving stations. With over 30 years in the industry, chef Jhun balances generosity with culinary discipline.
The Food Court at Solaire Resort North is where
casual dining meets bold flavor. Chef Hisham Johari, with 27 years of global experience and roots in Chinese-Malay cuisine, dishes up a wide selection in this gastronomy hub where the heart and soul of culinary flavors come alive.
Chef Rolando Idjao prepares the most flavorful Asian offerings at Lucky Noodles, Solaire Resort North’s casual dining restaurant. Drawing on decades of experience across UAE, the Maldives, and the Philippines, guests can enjoy his Asian twists and local versions of noodle dishes and street food in a relaxed setting.
Chef Jeffrey Fong rules at Manyaman where Pampangueño food reigns supreme. He brings many years of Philippine hotel and restaurant experience, crafting dishes that spotlight regional ingredients with a refined touch.
At Finestra Solaire North, sophistication and Italian artistry define the dining experience. Chef Joel Manchia, who hails from Sardinian descent, leads the restaurant with over 20 years of culinary experience across Europe, Asia, and the Americas. Having joined Solaire Resort in 2024, chef Manchia continues to shape Finestra’s identity through refined Italian cuisine and masterful technique that celebrates both heritage and innovation. Leading the culinary vision at Yakumi is chef Cristian Asato. Of Japanese-Peruvian descent and with more than 16 years of global experience, chef Asato presents an interplay between traditional and contemporary Japanese cuisine for guests who seek more than just an exquisite sushi and sashimi experience.
At Red Lantern, chef Jason Wong brings nearly two decades of regional and global kitchen experience as he takes refined Chinese cuisine to a new level. Guests can embark on a sensory exploration through China’s
develop imagination and problem-solving skills. When a child has to invent their own fun, they learn to be resourceful. They also grow more comfortable being alone with their thoughts, which is a skill that will serve them well in adulthood.
Of course, not all boredom feels productive. Prolonged or chronic boredom may point to deeper issues such as lack of purpose or burnout. If you feel empty or restless for long periods, it might be worth reflecting on what areas of your life need meaning or connection. Talking to a friend or professional can also help. The goal is not to romanticize boredom but to recognize its potential as a moment of pause before renewal.
Making boredom work for you is really about reclaiming attention. In a culture that prizes busyness, stillness can feel strange. Yet it is in these blank moments that you often rediscover curiosity, creativity and clarity. The next time boredom strikes, welcome it as a visitor rather than a nuisance. Let it sit with you for a while. You might be surprised at what it brings.
When you stop fighting boredom and start listening to it, you give yourself the rare gift of reflection. In that quiet space, ideas grow, patience deepens, and life slows just enough for you to notice its finer details. Boredom, after all, is not the absence of meaning. It is the doorway that leads you to find it.
regional flavors, from dim sum, wok-fired specialties to abundant Cantonese and Szechuan dishes.
Overseeing the broader kitchen operations are executive chefs Michael Tinsay who leads Western cuisine offerings with a modern and health-conscious sensibility and Richard Thong who directs the Chinese kitchen, drawing 25 years of experience spanning Singapore and Manila to maintain authenticity with contemporary relevance.
Finally, executive pastry chef Christian Monera ensures that the sweet side of Solaire Resort North
is nothing short of artistic. With more than 25 years under his toque in global destinations like UAE, Zambia, and the Maldives, he crafts cakes and signature desserts that elevate every dining experience. Together, these chef-led outlets represent more than just restaurants. They are expressions of culture, storytelling, and dedication to one’s culinary craft.
CAFE Mangrove chef Joel Ombi-on MANYAMAN chef Jeffrey Fong YAKUMI chef Cristian Asato
QUEZON Club chef January Belardo
MR.DIY CEO Named Woman Leader of the Year at the 2025 Asia CEO Awards
Roselle Marisol Andaya, Chief Executive Officer of MR.DIY Philippines, earned top recognition as Grand Winner for Woman Leader of the Year during the 2025 Asia CEO Awards at the Manila Marriott Hotel.
This marks the leading home improvement retailer’s first participation in the renowned recognition program for the country’s most exceptional business leaders and organizations.
The recognition celebrates Andaya’s visionary leadership, transformative impact, and advocacy for inclusion in the retail sector.
As the first female country CEO in the MR.DIY Group’s history, she has guided the company through remarkable growth— expanding to over 800 stores nationwide while ensuring that MR.DIY remains a people-first organization grounded in purpose, innovation, and compassion.
Under her leadership, MR.DIY implemented several groundbreaking initiatives in Philippine retail, including:
Gender-neutral hiring in warehouse operations, breaking traditional gender norms;
The Store Internship for Special Learners, providing retail training for individuals on the autism spectrum; and
The transition to 100 percent renewable
energy in its distribution centers, cutting emissions by 34 percent annually.
“These achievements are built on the strength of our people,” said Andaya. “This recognition is a reflection of our shared mission to make everyday living simple, joyful, and complete. Leadership, to me, is about lifting others and creating spaces where everyone can thrive.”
In addition to Andaya’s individual recognition, MR.DIY Philippines was also recognized with the Circle of Excellence Awards for Woman Leader of the Year and Diversity Company of the Year, underscoring the company’s continued dedication to empowering women leaders and promoting inclusivity in the workplace.
At the forefront of this recognition is MR.DIY’s Store Internship for Neurodiverse Learners, launched in partnership with
‘I am MAD’ champions holistic health with
IN celebration of Mental Health Awareness Month, advocacy group am MAD (Making A Difference) Volunteers Inc. reminds everyone that the heart of mental wellness lies in community.
For 15 years, am MAD has built not just outreach programs but shared lives, embodying the concept of kapwa (shared identity). Volunteers have long embraced service as a shared journey: traveling with purpose, connecting with communities across the country, and finding home in each other’s stories.
This year, the group turned inward to ask a rarely discussed question: Who takes care of the volunteers when they are the fuel of volunteerism?
Recently held at Tiong Bahru Makati, the Wellness Day for volunteers was created as an answer—a day of rest, reflection, and shared renewal. Through collective care, am MAD reminds everyone that mental health is not a solitary pursuit but “isang paghinga nang sabay” (a shared breath).
Grounded in the truth that loving others begins with learning to love and care for oneself, the initiative encourages volunteers to find balance between compassion for others and compassion for their own well-being. .
“You cannot give from an empty cup,” co-founder Christian Marx Rivero tells
ON October 12, 2025, the much anticipated BingoPlus’ Caravan 2025 officially hit the road and brought a wave of excitement in the province of Bulacan. Serving the local community and inviting the public to join the fun to Swing for Filipino Sports Dream and celebrate the nation hosting the International Series for the first
Candent Learning Haus and later expanded with Marvelous Minds Tutorial Center. The program provides workplace exposure and training for individuals on the autism spectrum while preparing MR.DIY employees to foster empathy and inclusion within their teams.
“We see inclusion not as a destination but as a continuous commitment to responsible growth—one that ensures every individual, regardless of ability or background, has the chance to learn, contribute, and belong,” shared Atty. Suzie Cu, Head of Legal, Compliance, and Sustainability, MR.DIY Philippines.
Each awardee was chosen from among hundreds of nominations for their outstanding contributions to national progress, innovation, and corporate leadership.
Wellness Day for volunteers
the group. “Piliin ang sarili bago ang lahat.”
Co-founder Maco Ravanzo adds, “As long as you are here, I am MAD will continue to live on. This organization breathes through you, the volunteers who are the very lifeblood of what we do.”
Rooted in Filipino Psychology and inspired by God’s love, I am MAD nurtures relational fitness, believing that we heal best when we walk together, not alone.
Part of this year’s celebration is a focus on spiritual wellness, a reminder that true service is not just an act of doing but a way of being in the presence of God.
While remaining non-sectarian, I am MAD affirms that faith in God is a vital source of guidance and purpose. The organization supports volunteers in deepening their spiritual lives, understanding that true kindness and compassion are rooted in a heart connected to Him.
I am MAD officially launched MAD BFF (Making A Difference Bible Fellowship Fortnighters), a fortnightly faith and fellowship gathering for volunteers, their families, and friends. Led by core members Wino Dela Cruz, Ruth Dağlı, and other senior volunteers, the group provides a safe space for prayer, reflection, and spiritual grounding.
During the special session, Dela Cruz highlighted MAD BFF’s life verse, John 1:1: “In the beginning was the Word, and the Word was with God, and the Word was God.” He shared that this verse reminds volunteers that Christ is the true source of life, purpose, and service.
For I am MAD volunteers, it is a reminder that service begins with being rooted in God’s Word. As they care for others, they also draw strength and direction from Him. Recognizing that volunteers often fund their own travel and materials, I am MAD partnered with Metrobank to promote financial wellness among its members and community. Through the initiative, volunteers are encouraged to save for themselves first, not out of selfishness but out of sustainability. The message is clear: we cannot pour from an empty cup. Giving should come from abundance, not depletion.
This month also marks the launch of the Padayon Journal, a heartfelt writing project that promotes emotional and mental wellness by inviting volunteers and community members to slow down, reflect, and reconnect with themselves.
To order a copy, visit bit.ly/PadayonJournalOrderForm or share your reflections at bit.ly/MTPadayonWall.
Over 70 Bulacan families celebrate new beginnings with land titles from SHFC
JOY and relief filled the City Convention Center in San Jose del Monte, Bulacan, as more than 70 families finally received their Transfer Certificates of Title (TCTs) from the Social Housing Finance Corporation (SHFC) through its flagship Community Mortgage Program (CMP) in a ceremony held on October 14, 2025.
The CMP is a key component of President Ferdinand Marcos, Jr.’s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, implemented by the Department of Human Settlements and Urban Development under Secretary Jose Ramon Aliling.
The event, led by SHFC President and CEO Federico Laxa, together with Mayor Florida Robes and Rep. Arthur Robes, marked a new chapter for the beneficiaries who now officially own the land they have long called home.
A total of 72 member-beneficiaries from nine homeowners’ associations—Bagong Buhay Francisco HOAI Phases 1 and 2, Elfa Ville HOAI, Partida Heights HOAI, Rosario Ville HOAI, Policarpio Ville HOAI, Samasamang Ugnayan Sagiptahanan Sikhay Kabuhayan HOAI, Ginintuang Alay na Lupa at Hanapbuhay sa Maralita, and Solid HOAI—received their titles, officially recognizing them as legitimate landowners.
In his message, Laxa emphasized that the land titles are more than just legal documents. “These titles represent wealth and a legacy that can be passed on to your children.
“You are now assured that the land where your home stands is truly yours,” he said.
Meanwhile, Robes expressed her appreciation for SHFC’s efforts in helping more San Joseños gain access to affordable housing and land ownership. “We are glad that through the CMP, more families are now title holders and have decent homes they can be proud of,” she said. For many families, the land titles symbolize not only ownership but also dignity, stability, and renewed hope for future generations.
One of the new title holders, 53-year-old Raymond Cortez of Bagong Buhay Francisco HOAI Phase 1, expressed his gratitude for the assistance extended by SHFC. “Nung kasama ako sa awarding, tuwang-tuwa ako dahil wala nang magpapaalis
various housing programs, visit shfc.gov.ph.
Foundever® in the Philippines to aid in addressing Critical Skills Gap
FOUNDEVER® in the Philippines is intensifying its efforts to bridge the nation’s critical skills gap, aligning with recent government initiatives designed to strengthen the Filipino workforce and prepare it for the future of work.
The move comes at a crucial time, as recent data from the Philippine Statistics Authority reveals a rise in the unemployment rate to 3.7 percent in June 2025, with 1.95 million Filipinos unemployed, up from 1.62 million in June 2024.
Concurrently, a World Economic Forum (WEF) report indicates that two-thirds of Philippine employers identify a skills gap as a major barrier, with about 68 percent of Filipinos needing reskilling to meet evolving job demands (compared to 59 percent globally).
In response, President Ferdinand Marcos Jr. recently signed the landmark Enterprise-Based Education and Training (EBET) Framework Act (Republic Act No. 12063), a measure designed to foster stronger partnerships between educational institutions and industries. This law aims to create a more direct alignment between academic training and the practical needs of the labor market, paving the way for flexible learning and micro-credentials.
Building on this momentum, the President established the Education and Workforce Development Group (EWDG) through Administrative Order No. 36 on August 13, 2025. Chaired by the President himself, this new body will serve as the central coordinating mechanism to harmonize policies and programs across various government agencies, including the Department of Education (DepEd), Department of Labor and Employment (DOLE) and the Technical Education and Skills Development Authority (TESDA). The EWDG’s mandate is to formulate a 10-year National Education and
Workforce Development Plan to address fragmentation and weak links between education and employment strategies.
Foundever in the Philippines is taking action to address the skills gap in the country. The company is developing and implementing programs that directly tackle the mismatch between the skills workers have and the skills employers need across various employment sectors.
Willy Lim, Vice President for HR, Marketing and Talent Acquisition of Foundever in the Philippines, China and Malaysia underscored the company’s commitment to building a globally competitive Filipino workforce.
“We have embraced a shared responsibility to build a globally competitive Filipino workforce by providing training programs that develop more than just technical skills, but also foster confidence, adaptability, and long-term career growth,” said Lim.
Among its key programs are the BPO Immersion Training for Senior High School (BITS) and strategic partnerships with organizations such as the Tuloy Foundation and Caritas Manila, which help prepare underprivileged youth for future careers. Foundever also works closely with the Contact Center Association of the Philippines (CCAP) and the IT & Business Process Association of the Philippines (IBPAP) to operationalize the EBET Act and equip future talent with in-demand digital skills. “We believe that collaboration is the key to progress. By aligning our programs with government policies and industry needs, we are building more than careers—we are shaping futures,” said Lim.
“Together with TESDA, EdCom, and our academic partners, we remain committed to creating pathways for talent development, ensuring that the Philippines continues to thrive in a rapidly changing global economy,” he added.
MR.DIY Philippines CEO Roselle Marisol Andaya receives the Grand Winner trophy for Woman Leader of the Year at the 2025 Asia CEO Awards held at the Manila Marriott Hotel.
Editor: Tet Andolong
BusinessMirror
GOVERNANCE, GREED AND THE FLOOD CYCLE
By Rizal Raoul S. Reyes @brownindio
PERENNIAL flooding problems are not only rooted in natural catastrophe but also in fractured governance and greed that has led to the wholesale destruction of the country’s ecological foundation.
Paulo Alcazaren, a renowned Filipino landscape architect, urban planner, and principal architect of PGAA Creative Design, emphasized that inadequate planning of infrastructure and obvious lack of open green space have caused massive damage to the country’s resources and deaths to the hapless Filipinos.
Further, he pointed out that the historical negligence highlights the failure to heed naturebased solutions (NBS) and a political climate characterized by fractured governance and corruption.
In his presentation during the Liveable Cities Lab on Rethinking Flood Resilience through Sustainable Urban Planning forum held in Makati City, Alcazaren said the loss of the country’s forest cover has contributed a lot to the flooding in the counryty. Comparing maps from 1949 to the present day, he illustrated how vast tracts of Philippine forests have been cleared, largely driven by the “greed to cut all of our forest.” Deforestation has crippled the natural water cycle.
“The 16 major river systems, which once had rainwater gently absorbed by forest soils and uplands, now experience rapid runoff. When the water hits concrete-laden urban areas, the result is instantaneous, overwhelming flooding,” he said.
In fact, he said an American landscape architect named Lewis Croft and his team of planners put in easements of 50 to 100 meters on either side of the creeks and rivers in Quezon City. However, the national government did not implement it, resulting in flooding in Quezon City and everywhere else.
“It is because they did not listen to nature-based solutions 80 years ago,” he said.
Fundamentally-flawed
ALCAZAREN emphasized that the current approach is fundamentally flawed because it focuses on the wrong location. While the problem starts “up here”—in the denuded mountains—the Department of Public Works and Highways (DPWH) continues to spend “trillions” of
pesos only on the “bottom portion” of the system, constructing incomplete river dikes, levees, and culverts that are destined to fail. For any intervention to be effective, Alcazaren stressed it must be comprehensive, running “from the top to the bottom” of the watershed.
The failure of planning and fractured governance
HE said Metro Manila is choked by built environmental structures, lacking the green open space necessary for absorption. The problem is exacerbated across the 150 or so cities and 1,500 towns where 6 out of every 10 Filipinos reside, making urban areas the primary recipients of both poorly planned
infrastructure and rushing floodwaters. This systemic mismanagement has resulted in transport inadequacy, perennial flooding, and the continued construction of expensive, incomplete, and ultimately ineffective gray infrastructure.
C5-Corridor: Crucial not just peripheral
OVER the past few years, the need to develop additional projects has compelled property firms to consider land in fringe areas. The dearth of developable land in major business districts such as Makati CBD, Fort Bonifacio, and Ortigas Center prompted developers to look for land in non-core locations. As a result, other business hubs in the country’s capital region emerged. Over the past few years, fringe areas such as the C5 Corridor, Makati Fringe, as well as parts of Mandaluyong City and Manila South have become the newest hubs for office, retail, hotel, and residential projects. The development of micro townships, complemented by the completion of big-ticket infrastructure projects, raised the attractiveness of condominium and office projects in these fringe locations.
The shift to fringe: C5 Corridor’s growing residential market SPANNING a stretch from Bagong Ilog in Pasig to Libis in Quezon City, C5 Corridor features dynamic townships, high-rise residential condominiums and vibrant retail centers that create a thriving ecosystem for commerce and urban living. The corridor houses various integrated communities such as Eastwood City,
ArcoVia City, Bridgetowne, and Parklinks. As of Q3 2025, average take up of condominium units in C5 Corridor is an impressive 86 percent. Among the developers with existing projects in the area include Megaworld, Robinsons Land, Shang Properties, Rockwell Land, SMDC, DMCI, and Ortigas Land. The upscale to luxury markets (P12 million and above) accounted for almost a fifth of condominium supply in the corridor, with the premium projects priced from P30 million to about P62 million per unit. Colliers Philippines believes that the submarket’s growing office stock, improving infrastructure, and existing township developments will likely raise C5 Corridor's competitiveness as a residential hub and as an emerging business district in Metro Manila. Interestingly, despite weakness in condominium take up in some parts of Metro Manila, the C5-corridor continues to stand out, recording one of the strongest pre-selling condominium take up in Metro Manila on a per submarket basis.
Crucial
highlighted the pivotal role the C5-corridor plays in a dynamic and constantly-evolving Metro Manila office market.
In a recent report, Mr. Jara highlighted that Metro Manila’s C5 Corridor is quickly emerging as a top location for companies seeking a new business address, thanks to its strategic location, access to talent, and integrated urban living.
As of the first half of 2025, the corridor boasts approximately 780,000 square meters of office supply, accounting for 5 percent of Metro Manila’s stock. Colliers Philippines expects this to expand to more than 900,000 square meters within the next five years, with new office developments in the pipeline across key townships.
New infra to raise C5-corridor’s attractiveness COLLIERS Philippines believes that the completion of the government’s infrastructure projects has the potential to unlock land values, raise property prices, and spur economic activities along the corridor. Among the projects likely to be completed include the P45.3 billion Skyway C6 Expressway which is a 32.7-kilometre road that will traverse from Skyway/FTI to Batasan Complex in Quezon City. The project is currently undergoing right-of-way (ROW) acquisition but is expected to ease traffic congestion in EDSA, C5 and Ortigas Avenue once completed.
Other infrastructure projects in the pipeline include the 33-kilometer Metro Manila Subway which aims to reduce travel time from Valenzuela to FTI in Taguig to 45 minutes. The subway is projected to be completed by 2032 and serve 500,000 passengers daily. Meanwhile, the 12.7-kilometer MRT-4 project is also expected to benefit residents from Metro Manila and Rizal, with construc-
tion expected to start in 2026 and full operations projected beyond 2028.
The Taguig City Integrated Terminal Exchange (TCITX) is a 5.57- h ectare multimodal transport hub in Arca South, Western Bicutan, Taguig. Designed to serve up to 160,000 passengers and 5,200 vehicles daily, it will connect buses and rail lines such as the North–South Commuter Railway and the Metro Manila Subway. The project broke ground in Q1 2025 and is scheduled to be completed in 2027.
More to explore along the C5-Corridor COLLIERS encourages property developers to explore more parcels of developable land across the C5 corridor ideal for micro townships.
In our view, there are parcels of developable land along the corridor that benefit from being in close proximity to Ortigas Centre and Bonifacio Global City, as well as bustling commercial centers Capitol Commons and Arcovia (please scan QR code below to explore viable properties). The feasibility of these properties for high-rise residential or commercial buildings further support a trend we are seeing in the market—the aggressive shift to Metro Manila fringe.
Embracing the nature-based solutions
AS an alternative to destructive, costly gray solutions, Alcazaren advocates for intelligent, hybrid systems that treat urban areas as a "sponge." These nature-based solutions (NBS) are already being implemented successfully by the private sector at a much lower cost than government-led projects.
One core solution is the use of detention ponds and cisterns.
Private developers in townships like Clark Green City and Megaworld properties now include massive detention lakes—such as the 20-hectare lake within Clark’s 48-hectare Central Park—to actively absorb and contain floodwater. In urban centers, this means
replicating solutions like the massive underground cistern beneath Bonifacio Global City (BGC) or utilizing quick-install proprietary modular systems that can be placed beneath tennis courts, parking lots, or plazas (like the proposal for Rizal Memorial Stadium).
Interestingly, he said Japan now uses Philippine coco coir logs to stabilize its riverbanks, proving that natural materials can be stronger and more effective than concrete.
Alcazaren called for adaptive urban design, including mandatory flood escapes—elevated areas on top of buildings—a critical lesson learned from the Tacloban storm surge, and the revival of the Filipino vernacular of building on stilts for flood-prone barangay halls. Simple policy-driven initiatives, like enforcing the neglected law on rainwater harvesting for all residences, could also significantly alleviate the burden on overstretched municipal culverts, as is being piloted in Naga City.
A sustainable outlook INSTEAD of working with concrete, Alcazaren said the Philippines must stop fighting nature and start working with it through solutions from restoring forests and mandating easements to installing rain gardens and cisterns, which are practical, proven, and increasingly costeffective.
Nevertheless, the challenge is political will and maintenance, as “maintenance is not in the vocabulary of our government.”
off ceremony are Ar. Jennifer L. Romualdez, head of Operations Management, Megaworld (center), and Eugene Lozano, senior vice president for sales and marketing, Megaworld Pampanga (4th from left). Also in photo are (from left) Ar. Charillene Vardeleon, architect-in-charge, Architecture and Planning, Megaworld; Engr. Harvi Gopez, construction management head for Capital Town, Megaworld; Christian Coombes, head of sales for Capital Town, Megaworld Pampanga; Joseph Saluta, senior assistant vice president for turnover management and technical services, Megaworld; Ar. Astrid Cruz, head of construction management, Megaworld; Engr. Victor Verdillo, vice president for construction management, Megaworld; Engr. Vincent Cruz, project-in-charge, construction management, Megaworld; and Engr. Alvin Bernal, project manager, Jethrock Construction Corp.
B7 Wednesday, October 29, 2025
PAULO ALCAZAREN
Diazes elevate honor of family name in AYG
By Aldrin Quinto
SAKHIR, Bahrain—With every lift, cousins Princess Jay Ann and Alexsandra Ann Diaz are raising the honor of the family name.
T he nieces of Olympic gold medalist Hidilyn Diaz delivered medals for the Philippines in the Asian Youth Games at the Exhibition World Bahrain (EWB).
Only 14, Alexsandra Ann added to the
“I’m so happy because I didn’t expect to medal, my rivals are so strong,” said Alexsandra Ann, from Mampang National High School.
C hina’s Lan Xinyi hoisted 93kg on her second lift to claim the gold.
Korea’s Kim Jsu Gyong also came up with a 92-kg lift, failing on the first but making it on her second try to edge out Diaz for the bronze.
A lexsandra missed getting double bronze after registering 70 on the first snatch and failing to lift 73 in her next two tries.
L an won with a 77, while Kim got the silver with a 76. Princess Jay Ann, from Global Technical School of Zamboanga, earlier claimed the bronze medal in the clean and jerk of the girls’ 44-kg class. The 17-year-old lass secured her podium place with a 78-kg lift.
India’s Bhoi Priteesmita bagged gold with a world youth record 92-kg lift, while China’s Wu Jihong lifted 88 kgs for silver.
Princess Jay Ann fell just short of the podium in the snatch, lifting 63 kgs and getting edged out by Vietnam’s Dao Thi Yen with a 64. China’s Wu Jihong won with a 68, while India’s Bhoi Priteesmita bagged silver with a 66.
“Our expectation was to simply enjoy the competition and not to medal, at least we enjoyed,” said Princess Jay Ann,
GBy Josef Ramos
ENERAL SANTOS City—Iloilo
City’s Precious Faye Hindap snatched her second gold medal in cycling while archers Jianna Rae Delos Reyes and Jeptha Caleb Fernandez led the gold rush for Baguio City in the Batang Pinoy National Championships here on Tuesday.
Hindap dominated the girls’ 16–17 individual individual road race held along Albert Morrow Boulevard by clocking one hour, 19 minutes and 53 seconds in the 45.66-km race staged over a 15-km loop. Yvonne Alejado of Passi City and Sheila Marie Rapada of Ormoc City had similar times as Hindap, but were beaten in the sprint to settle for the silver and bronze medals, respectively.
“It was tough to breakaway because they were all good,” said Hindap, who also won the individual time trial race on Monday. “I trained for three months and I’m very happy to win the gold.” In the boys’ road race, Pasig City’s Nathaniel Aquino won in 2:10:24, beating by four bikes length Iloilo City’s Aldren John Decafe-Makati City’s Roy Benedict Plastina got the bronze after he crossed 30 seconds behind the champion. Aquino and Decafe broke away in the final stretch of the 90.66-km race to make it a two-boy contest in the homestretch.
De los Reyes and Fernandez, meanwhile, hit clinched three gold medals each in archery event at the Notre Dame or Dadiangas University IBED Quadrangle.
De los Reyes got 680 points—346 and 334—in the first and second distances of the compound division for
adding that she wants to continue her weightlifting journey and reach the top just like their aunt.
“ We dream to be like her [Hidilyn Diaz], to be an Olympian,” she said.
Tough task for Alas ALAS PILIPINAS will have to dig deep for a podium finish as it renews its rivalry with powerhouse Thailand in the bronze medal match of the Asian Youth Games on Wednesday at Isa Sports City.
The Philippine girls’ volleyball team showed flashes of brilliance but could not sustain a strong start, falling to Iran, 28-26, 18-25, 19-25, 18-25, in the semifinals on Monday night.
The young Filipinas snatched the opening set but Iran found its rhythm and went on a tear, capitalizing on the Philippines’ struggles to side out.
Rhose Almendralejo carried the scoring load with 25 points, including 23 attacks, while Sam Cantada added 14. Raine Alonzo chipped in seven, and Ysabella Cruz contributed five in a gallant effort for the Filipinas, who also struggled with service reception against the taller, more composed Iranian side. Usually a steady
under-12 athletes, while Fernandez tallied 323 and 319 points for a combined 643 points in the under-14 class. Cebu City’s Dheniel Ceballos also had three gold medals in recurve with a total of a 684 total on 340 and 344 points. B aguio City dislodged Manila in the overall medals race thanks to its 10 golds in archery that hiked its total to 47 medals—23 golds, 10 silvers and 14 bronzes. Defending champion Pasig City ran second with 11 gold, eight silver and 20 bronze medals, followed by Manila in third with 10 gold, 10 silver and eight bronze medals; Quezon City with 10-914 and Muntinlupa with 7-11-2.
presence on the floor, Philippine delegation flag bearer Harlene Serneche could not get things going and was limited to two points in the first set and one in the second.
Erstwhile unbeaten Thailand also suffered a stunning defeat as Indonesia prevailed, 26-24, 27-25, 25-17, in the other semifinal.
Despite the loss, libero Atasha Doroja remains hopeful and composed, vowing that the team will be stronger in the bronze medal match.
“First, we got hurt with the loss, we tried our best, we gave our best but I think we need to work on so many things,” Doroja said. “There’s more to grow—emotionally and skills.”
Doroja also expressed gratitude to the Filipino fans in Bahrain who have been rallying behind the team throughout the tournament.
We thanked the Filipino fans here,” she said. “We’ll get the big one next time.”
The Philippines will now look to avenge its earlier loss to Thailand, which dominated their preliminary-round encounter, 25-21, 25-18, 25-14.
But this time, Alas Pilipinas hopes familiarity will play to its advantage.
Shuttlers sparkle CRIS IVAN DOSANO reached the Round of 16 in boys’ singles badminton, getting past Ali Alashoor of Bahrain,
21-5, 21-9, and defeating Kazakhstan’s Mustafa Malikzhan, 21-9, 21-12. Ron Ezekiel Zacarias also marched on, beating Ibrahim Hamdi of Maldives, 21-8, 21-11, in the Round of 64. Eve Bejasa also came up with big wins in girls singles, getting past Margaret Biswas of Bangladesh, 21-9, 21-4, in the Round of 64 and defeating Mak Nitajulie of Cambodia, 21-6, 21-6, to reach the last 16. Cristel Fuentespina bowed to Hong Kong’s Liu Hoi Kiu, 21-12, 21-15, in the Round of 32.
A bdul Azib and Fiersha Shafa of powerhouse Indonesia eliminated the Philippines’ mixed pair of John Lanuza and Rosheila Quierez, 2111, 21-15, in the Round of 32.
IA MORADO-DE GUZMAN
Jbrings her veteran versatile act anew to a 20-strong Alas Pilipinas Women team which will target nothing less than the gold medal at the 33rd Southeast Asian Games in Thailand in December.
“Nothing less than the gold medal,” declared Ramon “Tats” Suzara, president of the Philippine National Volleyball Federation, after the association board approved Brazilian head coach Jorge Edson Souza de Brito’s picks for the national team.
Suz ara also said the team members are culled from the professional league Premier
End ‘basketbrawl’ and ‘boxingball’
‘Ate Jia’ leads Alas team to SEA Games
Volleyball League and the University Athletic Association of the Philippines.
Joining De Guzman (Creamline) at the setter position are Julia Coronel (Galeries Tower), Mars Alba (Akari), while the liberos are Dawn MacandiliCatindig (Cignal), Jen Nierva (Chery Tiggo) and Justine Jazareno (Akari). Opposites are Alyssa Solomon (Osaka Marvelous), Leila Cruz (Capital1) and Kat Tolentino (Choco Mucho) and the outside hitters are Shaina Nitura (Adamson University), Eya Laure (Chery Tiggo), Vanessa Gandler (Cignal), Angel Canino (De La Salle), Bella Belen (Capital 1) and
CHANELLE AVARICIO wavered at the finish but proved as hungry as ever and fended off a pack of determined challengers to seize control of the International Container Terminal Services Inc. South Pacific Golf Classic with a four-under 68 on Tuesday in Davao.
Two late bogeys spoiled what could’ve been an explosive start to another title drive for the Apo Golf Classic champion, but a dazzling six-birdie spree in the first 10 holes was enough to keep her firmly in the driver’s seat against a field eager to knock her off her perch.
“I played really well on the front
Alleiah Malaluan (PLDT).
M iddle blockers are Dell Palomata (PLDT), Amie Provido (Fe La Salle), Maddie Madayag (Choco Mucho, Thea Gagate (Zus Coffee) and Fifi Sharma (Akari).
Suzara said the team will hold training camp from November 15 to 30 either in Japan of Taiwan.
The indoor volleyball competitions are set December 10 to 19 at the Huamark Indoor Stadium in Bangkok.
The Philippines has won the SEA Games women’s volleyball gold medal six times—the last in 1993 in Singapore—while Thailand is the region’s powerhouse with 16 golds.
y game didn’t go quite well,” said Ababa, who last won via playoff over van der Valk at Apo last year. “The greens here are tough.” Jahns, a two-leg winner this season, birdied two of his first nine holes but bogeyed the 13th to settle for a one-under card alongside Michael Bibat, Marvin Dumandan, Ryan Monsalve, American Collin Wheeler, Korean Jaehyun Jung, and FilAustralian Fidel Concepcion. C oncepcion, fresh from his maiden win at Apo, was poised for another strong finish before stumbling with a double bogey on the last hole to fall four strokes off Lumbo.
nine, but I made two late bogeys, including a three-putt mistake. The greens are very hard to read,” said Avaricio, whose effort still earned her a one-stroke edge over Sarah Ababa and Princess Superal, who matched 69s.
W ith 36 holes still to play, Avaricio remained grounded despite her strong start.
“I don’t want to get ahead of myself,” she said. Picking up exactly where she left off after her emphatic seven-stroke triumph at Apo last week, Avaricio once again displayed the poise and precision of a player in complete command.
With her rhythm unbroken and
allegedly hit Santos twice during the game. Unfortunately, Bringas’s alleged rough play was not caught on camera while Santos’s punch to Bringas’s face was seen in full view of televiewers and venue spectators. W hile Santos, who complained to the referees
for having
ALEXSANDRA ANN DIAZ displays potential form as Chef de Mission Ramon
JIA MORADO-DE GUZMAN will be the driving force in the campaign for the gold medal. PNVF PHOTO
ILOILO City’s Precious Faye Hindap beats Passi City’s Yvonne Alejado in the sprint finish. ROY DOMINGO
