SM ACTIVE IS BRINGING WORLDCLASS PICKLEBALL CLOSER TO HOME. In partnership with Kosmas Athletic Ventures Corp. (KAVC), SM continues to create opportunities for Filipino players and fans to engage with top international talent, encouraging them to move, play, and join the growing pickleball communities across SM malls. Joining World No. 2 pickleball star Anna Bright (second from left) are (from left) KAVC Head of Operations Richard E. Bachmann, SM Supermalls Senior Vice President for Mall-Based Business Units Katrina L. Abelarde, and SM Active Senior Assistant Vice President Joseph Francis V. Silva.
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PESO DEFENSE VOWED; 69, 70 TO $1 SEEN IN ’27 www.businessmirror.com.ph
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Thursday, October 29, 2026 Vol. 22 No. 22
P25.00 nationwide | 13 sections 88 pages | 7 DAYS A WEEK
By Samuel P. Medenilla & Andrea E. San Juan
A
S the peso continued to weaken and breached the P64 mark against the dollar, President Ferdinand Marcos Jr. said the country will exert all efforts to “defend” the local currency and vowed to keep in check the effects of its declining value such as high food prices so as to calm the market.
The chief executive made the assurance as the peso slumped to P64.18 versus the greenback on
Wednesday, raising concerns that the value of the local currency can See “Peso,” A2
INDONESIA TO HONOR ITS COAL CONTRACTS WITH PHL–GARIN By Lenie Lectura
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@llectura
INGAPORE—Indonesia has assured the Philippines that it will honor its long-standing coal contracts despite the gas export cuts Indonesia has imposed on Singapore, according to Energy chief Sharon Garin. Garin, who is attending a regional energy event here, clarified that Indonesia’s current export adjustments are due to internal restructuring and consolidation rather than a disruption to external buyers. “Our assurance that they have with us is that the contracts that are long standing are going to be honored,” Garin said.
“Their reason is that they’re just reorganizing....It’s more of their internal rules; they want consolidate that so nobody abuses it and there’s no transfer pricing or anything. So it’s more about discipline on their side rather than having any impact on the side of the buyers, especially the Filipino buyers,” she explained. Garin noted that the Philippines does not currently face the gas supply issues reported by Singapore. “So we’ve been assured of the [coal] supply. And we also asked them that a price could be maintained in a sense that it won’t be, it won’t increase, because of the changes. But we don’t have the same issue as of yet like the issue of Singapore See “Coal,” A2
UNDAS FLOWER RUSH A flower vendor arranges assorted blooms as buyers shop at Dangwa Flower Market in Sampaloc, Manila, ahead of Undas, when flower prices are expected to rise. Prices vary by flower type, bundle size and whether buyers purchase wholesale stems or ready-made arrangements, with bundles ranging from P250 to P1,500 and bouquets starting at P700. ROY DOMINGO
21 BusinessMirror
Nickel ores exports’ value soars 60% in H1 By Ada Pelonia
YEARS
Rising to Next-Gen Challenges
BusinessMirror at 21: Era of transition and growth
PORTS AND ROADS UNDER SCRUTINY Senator Raffy Tulfo, chairperson of the
Senate Committee on Public Services, presides over an inquiry into his privileged speeches on the state of Philippine seaports, delivered on September 2, 2025, and “Road to Perdition,” delivered on September 16, 2025, as Bureau of Customs Deputy Commissioner Emmanuel Licup answers questions during the hearing at the Senate in Pasay City on Wednesday, October 28, 2026. ROY DOMINGO
TURNING 21 marks a significant milestone in one’s life. It's a period of transition, exploring growth and empowerment as one navigates the path towards self-realization. At 21, BusinessMirror continues its journey of purposeful and independent journalism, going beyond the day’s headlines to examine the forces shaping the world. In an era defined by Artificial Intelligence (AI), climate change, geopolitical disruptions, economic shifts, and the emergence of a new-generation workforce, journalism is more relevant than ever as it endeavors to be a credible source of information. See “BusinessMirror,” A2
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@adapelonia
XPORT earnings from nickel ores and concentrates surged by over 60 percent year-on-year to more than $1 billion in the first semester following a rebound in global prices. Data from the Philippine Statistics Authority (PSA) showed that the value of nickel ores and concentrates shipments leaped by 64.2 percent to $1.006 billion in the January to June period, from the $612.74 million recorded in the same period last year. PSA data also showed that the volume exported in the reference period soared on an annual basis to 35.66 million metric tons (MMT), from the 20.93 MMT posted in the previous year.
Nickel ores and concentrates are raw materials processed by downstream industries to produce nickel, a base metal used across various industries, including stainless steel and electric vehicles (EVs). China remained the top buyer of the raw materials from the Philippines in the first semester, accounting for $601.48 million. This was followed by Indonesia with $367.19 million and Japan with $4.32 million, based on PSA data. From the previous slump of around $15,000 per metric ton (MT) in 2025 due to a supply glut in nickel powerhouse Indonesia, which accounts for 60 percent of global output, international quotations for the base metal recovered to $17,000 in the first quarter. Figures from the World Bank showed that See “Nickel,” A2
PESO EXCHANGE RATES n US 63.9910 n JAPAN 0.4053 n UK 85.1528 n HK 8.1573 n CHINA 9.5982 n SINGAPORE 49.9656 n AUSTRALIA 44.9409 n EU 71.2092 n KOREA 0.0482 n SAUDI ARABIA 17.0488 Source: BSP (October 28, 2026)
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A2 Thursday, October 29, 2026
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ERC: All means to cushion peso impact on rates used up A
Half of world’s domestics from Asia and Pacific–ILO By Mary Jade Jadormio
By Lenie Lectura @llectura
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INGAPORE—The Energy Regulatory Commission (ERC) has “used up” all possible measures to address the impact of the weakening Philippine peso on electricity rates, its chairman said here on Wednesday.
“That is the typical question of the day because yesterday the exchange rate reached P64 to a dollar. So we’ve seen our legislators asking ERC to act on or institute measures that will somehow mitigate the impact of this,” said Francis Saturnino Juan. “We have addressed a lot of things and we
are still studying what else can we do in anticipation of the increase in generation charge brought about by the depreciation of the peso.” While distribution charges are not immediately affected by the peso’s depreciation because such charges require formal rate filings, Juan said
Indonesia to Peso… honor its coal contracts…
Continued from A1
Continued from A1
on their gas. We only buy coal from Indonesia,” said Garin, adding that about 95 percent of the coal used in the Philippines is brought in from Indonesia. Meanwhile, Garin said the country is in talks with its neighbors and the private sector on the country’s plan to put up a coal-blending facility, aimed at maximizing the utilization of local coal to feed the power-hungry nation. “This is a possible project that we announced so that if there are any companies interested, it could be PNOC-EC [Philippine National Oil Company-Exploration Corp.] with somebody; it could be PNOC with Indonesia, but right now we’re talking to many countries also if they’re interested, like US, Russia. I think... Australia is also a supplier. “So we’re checking if there are countries or companies that are interested. So far, I haven’t received a report from PNOC EC yet but we’re looking at sites also in Mindanao,” she added. According to Garin, if the Philippines puts up a coal blending facility, then it will no longer be restricted to Indonesian coal. “For example, we get from local and if it’s not good enough, then we can mix it with something else.” Some countries are getting it from Australia, she said. “Before, we used to get from Russia also. Other than that, there are not many providers, so our options are limited.” She noted that the Philippines has “no energy security as far as coal is concerned. Because 95 percent of our coal is imported from Indonesia.” She added, “Anything can happen, so what we need is to have a diversification of our risk. We need to source it from different countries, if there’s an option, or the best option is to source it in-country. Most of our coal, they say, is not good enough for our coal power plants, but there is a way to fix that. We can mix our coal with something that can make it useful for our coal power plants.”
further drop to new historic lows, which some experts attributed to a strong dollar and rising pump prices. Also on Wednesday, former central bank governor Jose L. Cuisia Jr. said breaching the P65:$1 is quite easy now. And the Lead Economist of Bank of the Philippine Islands, Emilio S. Neri Jr., had an even dimmer prognosis: “Kung mag-65 na tayo this yearend, pwede tayo mag-69 [If we hit 65 this yearend, we could hit 69] under our worst-case scenario next year...or 70.”
‘Don’t panic’–Marcos
“FIRST of all, do not take it with alarm. Don’t panic,” Marcos told reporters at the sidelines of the National Correctional Consciousness Week at the New Bilibid Prison Medium Security Camp in Muntinlupa City when asked. “We have all the means to defend the peso. And with that in mind, we will continue to do all that we can to make sure that the value of the peso does not continue to go down, especially relative to the dollar,” he added. A country can “defend” its currency or stop its value from dropping by selling its foreign reserves and then buying its local money in the market or by hiking interest rates.
‘65 level easy to break’
THE P65-per-dollar level is “very easy to break” especially if the Federal Reserve would hike its key interest rate as this would put further pressure on the peso, according to former
NGCP…
Continued from A24
detailed framework for the participation of GenCos in the financing, construction and
generation pass-through costs feel an immediate impact. “The more immediate impact of foreign exchange [forex] fluctuations would be on the generation pass-through costs, given how generation pricing is structured,” Juan said. Currency depreciation impacts conventional power plants via fuel pass-through mechanisms, while fixed-rate renewable energy (RE) projects shield consumers from forex risks by placing the burden on generators. “In our country, power supply agreements [PSAs] for conventional power plants typically include fuel adjustment mechanisms. Conversely, for renewable energy projects, the energy charge is usually fixed, meaning, there is no impact from forex movements. We have many PSAs involving renewables where the energy charge is fixed; therefore, currency deprecia-
tion has no effect. Currently, the risk is borne by the generator. However, a significant portion of our baseload capacity features fuel cost pass-through mechanisms that are indexed to external factors,” said Juan. The ERC has already ordered an extension of the no-disconnection policy for unpaid electricity bills. Juan said that with the no-disconnection policy in place, distribution utilities and electric cooperatives are also feeling the strain. This is because their rates operate strictly on a cash-flow basis. Consequently, when payments for pass-through costs are delayed, because their customers are unable to pay on time, the utilities still face the obligation to pay their own generation suppliers. Juan said that as a result, they are left without the means to bridge that gap.
central bank chief Cuisia. Speaking to reporters on Wednesday, Cuisia said two weeks ago he was saying “no” to the question of the possibility of the local currency hitting the P65-per-dollar level. “But now, very difficult, eh. Because, assuming, let’s say the Fed is going to make a decision this week. If they increase, you know, there’s going to be a greater pressure on the peso. And even 65 is very easy to break. We’re already at 64,” added the former chief of the central bank. Despite this, Cuisia is pinning his hopes on remittance flows which he said usually increase in the months of November and December. “So that should soften—I guess the pressure. Because these are the months that you see more of the remittances coming in,” added the former chief of the central bank. Meanwhile, in light of President Ferdinand R. Marcos Jr.’s recent remarks on the peso, Cuisia said what the President says should not put undue pressure on the central bank to defend the peso. “Of course, what the president— you know, when he says something, he makes a political statement. It’s not the same as the governor saying it. Because the governor is supposed to be independent,” added the former governor of the central bank. So even if the president “says it,” Cuisia said if the governor sees that “it’s not going to be the right move, in other words, it’s not going to really matter even if they defend it.” On Wednesday, the Philippine peso closed at P64.025 against the dollar, 14.5 centavos stronger than its P64.17 finish on Tuesday, data from the Bankers Association of the Philippines (BAP) showed. The local currency recovered after
its seven-day losing streak against the greenback.
completion of transmission projects as well as the framework for TransCo to complete and implement Priority Project as these are consistent with the objectives of ensuring the quality, reliability, security and affordability of the supply of electric power and accelerating the total electrification of the country,” the DOJ pointed
out. The DOJ, however, clarified that its legal position on the matter is only based on the descriptions of the subject EOs and DCs as it has not been provided with the draft texts of EO No. 1, and DC Nos. 1 and 2 for a comprehensive review.
‘Healthy’ reserves
MARCOS maintained that the country’s foreign exchange reserves are “healthy” and can be tapped to defend the peso. Last week, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) also decided to raise its Target Reverse Repurchase (RRR) Rate by 50 basis points, which raised interest rates for overnight deposits and lending facilities. However, Marcos admitted that monetary policies can only go so far to stabilize the prices of basic necessities such as food and oil, which he said the government is now closely monitoring. The Philippine Statistics Authority (PSA) reported inflation accelerated to 7.2 percent last September from 6.1 percent the month before and 1.7 percent year-on-year. The main drivers of the upward trend in inflation were food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport. “Food, we can. And we are doing, again, everything that we can to make sure that the prices of food come down,” Marcos said. Among the said measures adopted by the Marcos administration was Executive Order No. 129 to raise the country’s corn imports by increasing the said food item’s Minimum Access Volume this year to 500,000 Metric Tons (MT) to help keep food prices stable during the ongoing El Niño. As for oil, Marcos conceded the government can do nothing to regulate it with the prevailing Republic Act No. 8479 or the Oil Deregulation Law.
SIA and the Pacific account for about half of the world’s domestic workforce, the International Labour Organization (ILO) reported, as it warned that informality and poor working conditions continue to weaken decent work globally. The region has 40.2 million domestic workers, according to the ILO’s latest estimates, which show that informality remains a major barrier to decent work 15 years after the adoption of the Domestic Workers Convention. Globally, 66.5 million domestic workers, or 83.1 percent of the workforce, remained in informal employment in 2025, up by 5.1 million from 2019. Despite the increase in the number of informal domestic workers, the ILO said the global figures largely reflect the growing concentration of domestic workers in countries where informality remains persistently high, rather than a widespread deterioration in working conditions. Informality declined or remained stable in 91 of 140 countries with comparable data, accounting for nearly 70 percent of domestic workers worldwide, while the remaining 49 countries recorded increases. Domestic workers earned an average of just 53.3 percent of the monthly wages received by other employees worldwide, while those in informal employment earned only 48.7 percent. The relative wage gap has widened since 2019, when domestic workers earned 56.4 percent of the average monthly wages of other employees, although the ILO cautioned that this
Nickel…
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nickel prices further rose in the April to June period, averaging $18,119 per MT. This, however, fell to $16,575 per MT in the succeeding quarter. In end-September, Bloomberg reported that smelters at a major Indonesian nickel-processing hub would be compelled to slash output due to water shortage triggered by El Niño-driven drought. The international report noted that Indonesia Morowali Industrial Park—a vast compound of plants on the island of Sulawesi—informed companies that they have to reduce production
ICC trial… Continued from A24
“Defense cross-examination is required to test the witness’s credibility and ability to provide relevant evidence capable of assisting the Chamber in establishing the truth,” Haynes wrote, arguing that the allegations should be tested in open court. The defense also described another witness as “a key witness” who provides information “that no other witness identified by the Prosecution is in a position to supply,” and argued that admitting the testimony without crossexamination “would compromise the rights of the accused.” Representing 539 participating victims, the Common Legal Representatives of Victims supported the prosecution’s request, saying written testimony could help protect witnesses from re-traumatization and reduce the burden of repeated court appearances. “Their participation gives human meaning to the crimes before the Court,” the victims’ lawyers
El Niño…
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BusinessMirror… Continued from A1
BusinessMirror steps up into the digital era, expanding its platforms to give readers “a broader look at the news.” While print remains at its core, the publication is also expanding its digital presence, reaching audiences across platforms and keeping pace with the evolving ways people are consuming news. As we conclude our two-part 21st anniversary special report (the first part was published October 8), we once again look be-
yond the headlines to identify the challenges, breakthroughs, and perspectives defining the country’s future. Lorenz Marasigan reports on next-generation transport projects such as the subway and railway projects, and the long wait for their completion. Malou Talosig-Bartolome examines the qualities and qualifications modern envoys need amid shifting alliances and the growing use of software tools in embassies. Mike Policarpio examines how prepared the Philippine education system is for the age of AI. Justine Xyrah Garcia and Reine Juvierre Alberto probe how the Philippines can benefit from its newly acquired upper-middle-income economy status. Lenie Lactura examines whether nuclear energy can help power the country’s clean energy transition despite concerns over its risks.
Still on energy, Lectura also explores efforts to stabilize pump prices and secure fuel supplies through a next-generation petroleum strategy. John Eiron Francisco examines how the AI chip boom is creating new opportunities for Philippine industrial property. Mary Jade Jadormio explores whether ongoing consultations and policy development will truly protect workers whose clients turn to AI-generated content. VG Cabuag interviews the next generation of business heirs and explores how their leadership is reshaping their family empire and the industries their companies lead. Vincent Peter Rivera explores how Gen Z is reshaping tourism by prioritizing travel for well-being, personal growth, and work-life balance. Read on, not just to stay informed, but to gain perspective and keep the conversation going on issues that matter most.
without resolving the shortages behind rising prices,” added Finex. According to Finex, these same priorities should help guide the 2027 National Budget. “The issue is not simply whether the government should spend more or less. The more important question is what we are spending on, whether we can execute it well, and whether that spending addresses the problems holding the economy back,” Finex stressed. Moreover, the business group said public funds should prioritize projects that strengthen food and water security, improve essential infrastructure, lower logistics and energy costs and expand the country’s productive capacity.
does not necessarily mean their wages fell in absolute terms. Long working hours also remain widespread, with 35.2 percent of domestic workers working at least 49 hours a week, including 14.6 percent who put in 60 hours or more. Women accounted for 77.2 percent of domestic workers worldwide and faced a sharper wage disadvantage, earning an average of 48 percent of the monthly wages of other employees, compared with 65.8 percent for men in domestic work. “Progress in many countries shows that change is possible. But with more than 66 million domestic workers still in informal employment and their wages falling further behind those of other employees, much more needs to be done,” chief of the ILO’s Informal Work Branch Patrick Belser said. “We cannot claim to value care while undervaluing the people who provide it. We must turn the rights set out in ILO Convention No. 189 into reality, ensuring fair wages, social security, decent working conditions and effective protection for all domestic workers,” he added. The ILO called for stronger formalization measures, accessible registration and social protection, effective minimum wages, workingtime protections and better enforcement of labor standards. It also urged governments to strengthen compliance with the Domestic Workers Convention and related recommendations as growing care needs make decent work for domestic workers increasingly important to gender equality and social justice.
of nickel pig iron due to the water shortage. “The reduction could help arrest a slide in nickel prices, which have declined around 18 percent on the London Metal Exchange from a high in early May,” Bloomberg said. For 2026, the World Bank expects nickel quotations to average $17,000 per MT, a 12-percent growth from the $15,162 MT last year. The organization attributed this to sustained growth in demand from the stainless steel and EV industries, despite policy changes like nickel ore production quotas in Indonesia. “Globally, consumption growth is envisaged to outweigh constrained supply expansion, such that nickel prices are projected to increase by 12 percent in 2026 [year-on-year] and rise by 3 percent in 2027.”
said. “These proceedings concern not only the determination of individual criminal responsibility, but also the victims whose lives have been irrevocably affected by the crimes alleged before the Court.” The victims’ representatives also argued that the proceedings offer families an opportunity to establish the truth and seek accountability. “For the victims, the proceedings before this Court constitute a rare and indispensable source of hope,” they said, expressing hope that the truth would be established and the suffering of victims acknowledged. The filings provide an early indication of how both sides intend to present their case. Prosecutors are seeking to establish the broader context and alleged policies behind the killings, while the defense is focused on challenging evidence that directly links Duterte to the crimes charged. Trial Chamber III, composed of Judges Joanna Korner, Keebong Paek and Nicolas Guillou, is expected to rule on the contested witness statements before trial proceedings start on November 30. The ruling will not determine Duterte’s guilt or innocence, but it will shape how evidence will be presented in one of the ICC’s most closely watched cases involving a former head of state.
“At the same time, projects that are poorly prepared, difficult to execute or provide limited economic benefit should be reconsidered,” added Finex. The Monetary Board, the highest policy-making body of the BSP, decided to raise the key interest rate for the fourth time in a row this year—this time, however, by 50 basis points as it saw the urgency to contain recent “unforeseen” developments on prices, with El Niño’s peak still to come. This was the largest increase in the key interest rate since the conflict in the Middle East started in February of this year. Finex said, however, noted that while the BSP must fulfill its mandate in curbing inflation, “it cannot carry the fight against inflation alone.” “Fiscal policy and the government’s response to supply constraints must do their share,” added the business group.
FNG bridges Japanese engineering and Filipino homebuyers’ needs
By applying traditional Japanese architectural principles, the real estate developer prioritizes space optimization and functional utility tailored to the everyday routines of Filipinos.
The Observatory reflects FNG’s approach to thoughtful urban living, bringing together Japanese-inspired design, functional spaces, and award-winning architecture in Mandaluyong City. ARTIST’S PERSPECTIVE
The Observatory integrates residential spaces with a thoughtfully planned commercial component, bringing everyday conveniences closer to home. ARTIST’S PERSPECTIVE
The Observatory brings together thoughtfully designed residences and shared spaces in Mandaluyong, reflecting FNG’s approach to creating communities shaped by Japanese expertise and Filipino living. ARTIST’S PERSPECTIVE
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By Vincent Peter Rivera
ODAY, demand within the Philippine housing market continues to evolve, as prospective buyers seek everything from versatile living spaces and vibrant third places to captivating panoramic views. Positioned at the intersection of these shifting lifestyle preferences, a standout development aims to answer every priority by combining two distinct cultural design philosophies: The Observatory by Federal Land NRE Global Inc. (FNG). A joint venture established in 2022, FNG unites local heritage with international innovation, bringing together Philippine real estate pioneer Federal Land, Inc. and Japan’s Nomura Real Estate Development Co., Ltd. With over five decades of expertise, Federal Land is renowned for shaping city skylines through a deep-rooted understanding of Filipino lifestyle aspirations and community dynamics. Meanwhile, Nomura Real Estate—a premier developer of multi-family residences and master- planned communities in Greater Tokyo—contributes world-class Japanese engineering, precise design discipline, and a forward-looking vision for longterm community development. Together, FNG envisions a Japanese-inspired design philosophy carefully tailored to the Philippine context— combining meticulous craftsmanship and functional innovation with the lifestyle of modern Filipino families.
Building with intention
Rather than treating highdensity developments as isolated structural projects, FNG grounds its portfolio in master-planning centered on long-term estate vitality. This strategy relies on core brand pillars: Japanese functionality, continuous innovation, and local adaptability. By applying traditional Japanese architectural principles to Philippine floor plans, the firm prioritizes space optimization and functional utility tailored to the everyday routines of Filipinos. Beyond unit interiors, the developer incorporated longterm sustainability models focused on structural durability,
low-maintenance design, and community connectivity—aiming to ensure developments remain functional over time. This hybrid planning approach is currently being deployed across several key developments under the FNG portfolio, most notably Yume at Riverpark in Cavite and the firm’s flagship vertical estate in Mandaluyong, The Observatory.
The Observatory Sales Pavilion welcomes prospective homeowners into the development, introducing its design approach and the features that shape the living experience.
Two worlds collide
Located within the expansive 600-hectare master-planned Riverpark community in General Trias, Cavite, Yume at Riverpark, meaning “dream” in Japanese, serves as a primary example of this cross-cultural philosophy. The 18-hectare horizontal residential enclave harmoniously fuses modern Japanese architecture and design principles with the natural warmth of Filipino hospitality. Meanwhile, in the heart of Metro Manila, The Observatory represents the vertical application of this design ethos. Spanning 4.5 hectares in Mandaluyong City, this mixed-use estate is carefully engineered to balance urban density with effortless accessibility. Master-planned with the renowned Japanese architectural firm Nikken Sekkei, the development features modern high-rise architecture optimized for natural lighting and panoramic skyline views. The project’s first residential tower, Sora, reflects FNG’s vision of blending Japanese craftsmanship with Filipino creativity, incorporating functional interior details designed to streamline household storage and spatial flow. Chief among these features are Genkan-inspired entryways— traditional Japanese-style foyer transitions designed as dedicated buffer zones between the exterior corridor and the primary living space. These areas serve as practical spaces for shoe removal and entry. Another key storage feature is
Thoughtful space planning and functional details help make everyday living more comfortable at The Observatory, where design choices are guided by the needs and routines of modern urban residents.
the inclusion of flexible kitchens. Inspired by modern Japanese homes, these custom cabinets are built with adjustable components to accommodate diverse kitchen setups and cater to the cooking habits of Filipino households. Finally, modular storage solutions are integrated throughout unit layouts to optimize available unit space. Beyond private residential layouts, the estate’s master plan allocates a significant footprint to shared common spaces, social amenities, and urban integration.
As Philippine urban centers grow denser and developer competition intensifies, FNG’s execution reflects a broader trend in local real estate: moving away from generic residential models toward specialized, highly functional master-planning. By adapting Japanese design discipline to local cultural habits, FNG offers a practical blueprint for modern urban housing in a competitive market—combining two distinct philosophies to create an intentional community suited to contemporary Filipino living.
Riverpark is a masterplanned township in General Trias, Cavite, envisioned to bring together residential, commercial, institutional, and recreational spaces. With developments such as Yume at Riverpark and the UNIQLO Logistics Facility, the township continues to take shape as a growing destination in the South. ARTIST’S PERSPECTIVE
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Thursday, October 29, 2026
www.businessmirror.com.ph
Hegseth proposes US-Asean defense pact By Carmel Pedroza
EBU CITY—The United States has proposed establishing a comprehensive regional defense cooperation framework with the Association of Southeast Asian Nations (Asean) to guide joint security initiatives, as Washington steps up efforts to deepen military partnerships in Southeast Asia amid growing regional tensions.
would establish a practical blueprint for defense alignment leading into the 50th anniversary of US-Asean diplomatic relations in 2027. “In recognition of this milestone, we propose that we work together to develop a US-Asean framework for defense cooperation—a practical framework t h at g u ides ou r cooperat ion over the next several years,” Hegseth told regional defense leaders. Hegseth stated that Washington is prepared to initiate bilateral discussions with Singapore’s defense leadership as the country prepares to assume the upcoming chairmanship of the Asean Defense Ministers’ Meeting-Plus (ADMM-Plus).
US Secretary of Defense Pete Hegseth announced the proposal during the Asean-United States
Deterrence, regional stability
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Defense Min isters’ Infor m a l Meeting in Cebu City on Wednesday, noting that the agreement
Unity vital in preserving Asean stability–Teodoro By Rex Anthony Naval
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NITY is vital in preserving stability in Southeast Asia, Defense Secretary Gilberto Teodoro Jr. said as the 20th Association of Southeast Asian Nations Defense Ministers Meeting (ADMM) formally opened in Lapu-Lapu City, Cebu on Wednesday. “Our convergence is all the more necessary as we contend with changes in our international environment, which pose challenges to the rights of smaller and archipelagic states, including those of us in Asean,” he said in his opening statement. And against this backdrop, and in line with the Philippines’ theme of “Navigating Our Future Together,” Teodoro emphasized that the Philippines, as chair of the ADMM, is offering three key messages to guide the event’s discussions growing forward. “First, in a fragmenting world, our internal stability and intra-ASEAN unity are vital, perhaps even in the future existential,” he said. Teodoro added that it is only when member states are united that it can effectively uphold Asean centrality. And this includes principles that bind the bloc such as mutual respect for sovereignty and territorial integrity, peaceful settlement of disputes, and renunciation of the threat or use of force. “First, Asean was founded on the belief that our strength lies in our diversity. We must therefore not allow our differences to divide us from within. And where such differences exist, rather, including in the South China Sea, we shall settle them through peaceful and legal means,” Teodoro said. And in that spirit, the DND chief said he welcomes “the efforts of our kin in Cambodia and Thailand” to maintain the cease-fire agreement and seek a peaceful and durable solution to the current situation. “For our part, the Philippines reaffirms its continued participation in the process settled by our leaders, the Asean Observer Team, with due regard for the sensitivities of all concerned. Second, our functional cooperation is essential to enhancing trust, maintaining trust and confidence among our defense establishments and producing purposive outcomes for our peoples,” he added. See “Asean,” A8
EMPH A SIZING Washing ton’s
st rateg ic pr ior it ies, Hegset h highlighted US President Donald Trump’s vision for a secure Pacific anchored on a “strong, quiet, and clear” posture intended to deter external aggression without escalating conflict. “Serious partners train together, learn together, plan together, and build the confidence and competence necessary to prevent conflict,” Hegseth said. He outlined core focus areas for practical cooperation, including maritime domain awareness, naval interoperability, cyber resilience, and joint tactical exercises. Hegseth also praised Asean’s diplomatic intervention in sustaining the cease-fire along the Thailand-Cambodia border, pointing to the effort as a prime model of purposeful regional leadership that Washington will continue to back.
Manila backs US regional presence
HOST Philippines Defense Secretary Gilberto Teodoro Jr. welcomed Washington’s proposal, reaffirming that a sustained US security presence remains essential to maintaining stability and freedom of navigation across the Indo-Pacific region. The Cebu summit coincides with the 80th anniversary of bilateral diplomatic relations between the Philippines and the United States. Teodoro expressed appreciation for Washington’s continued commitment to Asean centrality and Asean-led security platforms, such as the ADMM-Plus. Teodoro pointed to expanding practical defense engagements across the region, including: Maritime Exercises: The second Asean-US Maritime Exercise held in Indonesia, featuring active Phil-
ippine Navy participation. Maritime Security Co-chairmanship: US support for the Philippines and Japan as co-chairs of the ADMM-Plus Experts’ Working Group on Maritime Security, alongside recent joint air and naval activities in Subic. Military Medicine and Disaster Response: Joint efforts under the ADMM-Plus Experts’ Working Group on Military Medicine—cochaired by the US and Indonesia (2024–2026)—highlighted by the Armed Forces’ (AFP) participation in Exercise Trident Resolve in Indonesia last month. “Freedom of navigation remains essential to the security, prosperity, and resilience of regional populations,” Teodoro stated, calling on Asean defense ministers to leverage open and candid dialogues to build outcome-driven partnerships.
Arrest of journalist prompts calls for libel law reform By Jovee Marie N. dela Cruz @joveemarie
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LAWMAKER on Wednesday called for a review of the country’s libel laws, saying the arrest of veteran journalist Felipe Lustre Jr. underscored the need to balance the protection of reputations with press freedom. “Protect reputations, yes. Silence the press, no,” Party-list Rep. Terry Ridon of Bicol Saro, a member of the House of Representatives impeachment prosecution panel, said. “Journalists should not be afraid to ask tough questions,” he added. Ridon’s statement followed a renewed call by human-rights lawyer Dino de Leon, Lustre’s counsel, to decriminalize libel and cyberlibel during a news conference at Dapo Restaurant, where Lustre was arrested, on
Wednesday. Lustre, 72, was arrested in Quezon City on Saturday under a warrant issued by the Regional Trial Court in Davao City in connection with a cyberlibel complaint filed by lawyer Manases Carpio, the husband of Vice President Sara Duterte. He was later released after posting P48,000 bail. De Leon said Lustre had not received the complaint or a subpoena that would have allowed him to respond to the allegations before the case reached court. He urged the Department of Justice (DOJ) to investigate the handling of the complaint and determine whether proper procedures were followed. The lawyer also raised concerns about the impartiality of the prosecution office handling the case, citing information that Davao City Prosecutor Jhopee Salvador Avanceña is the first cousin of Honeylet Avanceña, the long-time
partner of former President Rodrigo Duterte, Carpio’s father in law. De Leon urged the DOJ to verify the reported relationship and determine whether the prosecutor should recuse herself from the case. Ridon said the concerns warranted a closer examination of how libel laws are implemented, particularly whether the threat of criminal prosecution could discourage journalists from covering controversial issues. “People have the right to seek justice. But the public also has the right to know,” he said. Ridon clarified that reviewing libel laws would not exempt journalists from accountability for publishing false or damaging statements. “False statements must be dealt with. But asking legitimate questions should not be a crime,” he said. He also warned that defending
against criminal complaints could entail substantial legal fees, travel expenses and time in court, even before a case is resolved. “That burden can scare people into silence. Congress should take that seriously,” Ridon said. The lawmaker had earlier raised concerns about libel and cyberlibel complaints involving media practitioners, including Lustre and GMA Network officials and journalists who were the subjects of a separate complaint filed by Davao City Rep. Paolo Duterte. Ridon said the House prosecution panel was prepared to assist media practitioners facing legal challenges. He also questioned the handling of arrest warrants in Lustre’s case and the grave threats case involving Vice President Duterte. “Reviewing the law is not about protecting anyone from accountability. It is about making sure the law is fair—and that the public is not left in the dark,” Ridon said.
Gatchalian vows funding for Aral Program By Butch Fernandez @butchfBM
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ENATE President Sherwin Gatchalian has pledged to fight for dedicated funding for the Department of Education’s (DepEd) Academic Recovery and Accessible Learning (Aral) Program, citing compelling impact data that shows significant progress in overcoming post-pandemic student literacy challenges. Gatchalian reaffirmed his commitment during a Senate Commit-
tee on Finance briefing regarding the proposed 2027 national budget for DepEd and its attached agencies. He stressed that proven, highimpact educational interventions must receive continuous financial backing to avoid stalling momentum in basic education recovery. “Ito naman ang ating commitment sa DepEd dahil kung maganda ang programa, kailangang mapondohan para ma-sustain ang gains,” Gatchalian told education officials and fellow lawmakers during the hearing. To underscore the necessity of
sustained funding, Gatchalian pointed to groundbreaking findings from a joint impact evaluation conducted by DepEd, the international non-profit organization Youth Impact, and the World Bank. According to the comprehensive study, the Aral Program successfully elevated 1.37 million struggling students out of the lowliteracy category. Furthermore, the evaluation revealed that 730,000 learners are now reading at their target grade level, while reading proficiency among primary students
in Grades 1 through 3 improved by a remarkable 37 percent within a standard school year. The figures demonstrate that structured, targeted learning recovery initiatives produce tangible improvements in foundational reading and comprehension skills across public elementary schools nationwide. During his previous tenure as Chairman of the Senate Committee on Finance, Gatchalian See “Aral,” A6
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Thursday, October 29, 2026
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Teodoro eyes more defense cooperation with Malaysia F
Ousted Manila congressman seeks High Court intervention
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By Rex Anthony Naval
EFENSE Secretary Gilberto Teodoro Jr. called for a more ambitious defense cooperation between the Philippines and Malaysia as he meet with his Malaysian counterpart on the sidelines of this year’s Association of Southeast Asian Nations Defense Ministers Meeting (ADMM) and ADMM-Plus in LapuLapu City, Cebu on Tuesday. Teodoro made this call following his bilateral meeting with Malaysian Minister of Defense Dato’ Seri Mohamed Khaled bin Nordin. “Let us be ambitious together,” Teodoro told the Malaysian defense chief, as he emphasized the need to build on the strong working relationship between the Philippines and Malaysia, and pursue greater cooperation on shared security concerns. The two defense officials discussed the importance of Asean solidarity and enhancing interoperability among Asean Member States, particularly through Asean-led mechanisms. In the same statement, Khaled noted that the existing regional mechanisms provide an opportunity for Asean countries to further improve interoperability and strengthen their collective capacity to respond to emerging challenges.
“Secretary Teodoro also underscored t he impor tance of greater cooperation in disaster resilience and humanitarian assistance, noting the effects of extreme weather conditions affecting both countries. The two officials discussed the need for Asean Member States to explore ways to assist one another during disasters and other emergencies,” the Department of National Defense in a statement said. On regional security, Teodoro emphasized the importance of closer intelligence sharing, particularly in addressing transnational threats such as illegal drug proliferation. He noted that developments in Sulu and Basilan could have implications beyond Philippine territory and stressed the need for enhanced intelligence cooperation among the Philippines, Malaysia, and Indonesia to support interdiction efforts.
The two sides also exchanged views on developments in the West Philippine Sea and the importance of Asean solidarity in upholding international law. Teodoro emphasized that the 2016 Arbitral Award is not solely a Philippine matter, noting that its fundamental principles form part of international law and are grounded in the United Nations Convention on the Law of the Sea (Unclos). The DND chief also stressed that the Award established that the so-called nine-dash line has no basis in international law and that China’s historic claims over contested maritime features are without legal basis. He, likewise, underscored the Philippines’ commitment to upholding the Award and noted that Asean Member States, having accepted Unclos as the framework for maritime issues, can work together on the basis of shared principles. “Minister Khaled, for his part, acknowledged the challenges involved in the issue but emphasized the importance of adhering to Unclos. Both officials agreed on the value of ensuring that Asean voices remain resonant and united on fundamental principles,” the DND said. Likewise, the Malaysian defense minister also conveyed his condolences over the recent Air Force (PAF) tragedy and congratulated Teodoro on the Philippines’ successful hosting of the ADMM in person in Cebu. “ The officials likewise discussed the recently concluded elections in the Bangsamoro Autonomous Region in Muslim
Mindanao with Teodoro noting that the elections proceeded without major conflict following the deployment of security forces to address foreseeable security concerns, contributing to a high voter turnout,” the DND said. Related ly, Teodoro, dur ing his meeting w ith Singapore’s Defence Minister Chan Chun Sing, on the same day, championed the 2016 Arbitral Tribunal Award for its fundamental principles as this will benefit ASEAN member states. “The two met on Tuesday on the sidelines of the 20th ADMM and 13th ADMM Plus, where they also tackled regional defense and security challenges, particularly malign foreign interference and coercions at sea as experienced by the Philippines,” the DND said. Likewise, Teodoro also promoted the Philippines” defense partnerships with partners like Japan, Canada, South Korea, Australia, India, and New Zealand and the possibilities for expanded practical cooperation they bring, especially in developing capabilities and building supply chain resilience. As Singapore takes over Asean and ADMM chairmanship from the Philippines on Thursday, the back-to-back chairs of Asean also discussed the future of the Asean Observer Team mission for the continued coordination and stability along the Cambodia-Thailand border. The meeting fostered closer defense cooperation between the two countries as they seek to promote sustained regional stability and security.
‘Talks on Sara replacement too early’ By Jovee Marie N. dela Cruz @joveemarie
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HOUSE of Representatives impeachment prosecution spokesman has said discussions about a possible successor to Vice President Sara Z. Duterte remain premature, even as the prosecution believes its evidence could support her conviction in the Senate impeachment trial over allegations of unexplained wealth and discrepancies in her asset declarations. House impeachment prosecution spokesman Ace Barbers said public questions about who could succeed Duterte ref lect growing
attention to the evidence presented against her but stressed that the decision on a replacement would rest with President Marcos should the vice presidency become vacant. “It is still too early to discuss this. We leave it to the president to decide whom he will nominate to replace the vice president and from where,” said Barbers, adding the prosecution believes its evidence would be difficult for the defense to refute. “The people see that the evidence presented by the prosecution is substantial and cannot easily be disproved. They believe this could lead to a conviction based on the evidence,” he said.
Under Article VII, Section 9 of the 1987 Constitution, the President must nominate a successor to a vacant vice presidency from among members of the Senate or the House of Representatives. The nominee must be confirmed by a majority vote of all members of both chambers, voting separately. Senate Impeachment Court Presiding Officer Francis Escudero has said he would decline the position if offered, citing a potential conflict of interest. Barbers, meanwhile, defended the prosecution’s reliance on financial records and official documents, including records from the Bureau of Internal Revenue (BIR), banks and the Anti-Money Laundering Council (AMLC). “ T he nu mbers do not l ie. The documents speak for themselves,” he said, adding that some of the records originated from Duterte’s own financial filings and submissions. He cited bank records showing that Duterte and her husband, lawyer Manases Carpio, had combined year-end bank balances of approximately P59 million in 2022, P71 million in 2023, P22.24 million in 2024 and P39 million in 2025. The prosecution questioned why Duterte’s Statements of Assets, Liabilities and Net Worth (SALNs) did not separately list cash on hand or cash in bank from 2019 to 2025. Barbers also questioned insurance policies and investments involving the couple. He cited a combined fig ure of P81.84 million for 2024, consisting of P59.6 million in insurance and
investments and P22.24 million in year-end bank balances. He compared this with the P21.13 million Duterte declared under “other personal properties” in her 2024 SALN. The prosecution also cited Philippine National Police records indicating that 51 firearms were registered under Duterte and Carpio, with an estimated combined value of P7.22 million. Barbers questioned whether these assets were properly accounted for in the Vice President’s declarations. The prosecution has further cited AMLC records covering approximately P4.4 billion in covered and suspicious transactions involving Duterte and Carpio from 2007 to 2025. Barbers questioned whether the defense could successfully challenge the testimony of AMLC officials and the financial records presented before the Senate impeachment court. He said the prosecution would respect the defense’s opportunity to present its case but questioned whether it could produce witnesses from the BIR or AMLC to contradict the officials who testified. The prosecution’s financial evidence forms part of Article II of the impeachment complaint, the sole remaining charge involv i ng a l legat ions of u ne xplained wealth and inaccurate asset declarations. The Senate impeachment trial is scheduled to resume on November 9, when Duterte’s defense is expected to begin presenting evidence.
ORMER Manila Councilor Luis Chua Uy has appealed to the Supreme Court for swift action on his pending petition after the Commission on Elections (Comelec) unseated him over citizenship allegations—a decision his legal team insists was rendered long after Comelec lost jurisdiction. Uy won the congressional seat for Manila’s Sixth District in the May 2025 elections, securing 64,746 votes to defeat reelectionist Rep. Bienvenido Abante Jr. by a 1,388-vote margin. Uy officially took his oath of office on May 26, 2025. Appearing on television news program, Uy said that the delay leaves his constituents without representation in the House of Representatives. “They were deeply upset and angry,” Uy said in Tagalog, describing the reaction of Sixth District voters. “But I told them we have an appeal before the Supreme Court... and that in the end, what is right will prevail.” At the core of Uy’s legal challenge is the timing of Comelec’s intervention. His lead counsel, Jordan Pizarras, argued that the poll body committed grave abuse of discretion by acting on Abante’s post-election complaint, which was filed on May 22, 2025. Under Section 78 of the Omnibus Election Code, petitions
seeking to deny due course or cancel a Certificate of Candidacy (COC) must be filed within a strict 25-day window following the COC filing deadline. In Uy’s case, the deadline to challenge his qualification lapsed on October 26, 2024. Pizarras asserted that Comelec lacked the legal authority to entertain Abante’s late petition after the deadline had passed and after election results were officially proclaimed. To bolster their citizenship argument, Pizarras cited the landmark 1991 Supreme Court ruling involving former Northern Samar Rep. Jose Ong Jr. In that case, the High Tribunal ruled that Ong—born to a natural-born Filipina mother and a naturalized Filipino father— was automatica l ly a natura lborn Filipino citizen upon his father’s naturalization during his minority, rendering a formal written election of citizenship unnecessary. Applying the Doctrine of Implied Election, Pizarras pointed out that an individual’s status as a natural-born Filipino citizen can be legally recognized through long-standing public actions, lifestyle, exercise of civic duties, and overt allegiance, without requiring a separate formal sworn statement under applicable constitutional frameworks. Joel R. San Juan
BARMM ministries extend aid beyond borders By Manuel Cayon @awimailbox
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AVAO CITY—Moving beyond the core provinces of the Bangsamoro region, two regional ministries have extended vital educational and food assistance to vulnerable communities in North Cotabato and Sultan Kudarat. The Ministry of Basic, Higher and Technical Education (MBHTE) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) delivered essential educational assistance to 50 students of Simone Elementary School Extension (also known as Kumotan-Tayag Primary School) in barangay Simone, Old Kabakan. North Cotabato, while, on October 15, the Ministry of Social Services and Development (MSSD) distributed food packs to 300 Bangsamoro families in barangay Salaman, Lebak, Sultan Kudarat. MBHTE Acting Deputy Minister Abubakar A. Katambak led an assessment team alongside Special Geographical Area (SGA) Schools Division Superintendent Benjamin M. Wahab. During the visit, the officials evaluated the school’s facilities, identified key learner needs, and distributed learning kits to every student. To enhance instructional resources for the school’s two teachers, MBHTE also provided classroom maps, books, charts, flashcards, and various teaching supplies. The on-site assessment enabled MBHTE to engage directly with local educators, parents, and community members regarding the operational and educational hurdles faced by learners in the area. MBHTE acknowledged the assistance of the National Police’s (PNP) 1405th Maneuver Force Company (Regional Mobile Force Battalion 14-A) for facilitating the outreach, alongside the cooperation of the local school staff, parents, and barangay Simone residents. Barangay Simone is among the 63
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championed a historic P8.9 billion allocation for the Aral Program to institutionalize learning recovery mechanisms. However, lawmakers discovered during the briefing that the Executive branch’s 2027 National Expenditure Program (NEP) currently lacks a dedicated line-item alloca-
barangay across six Nor th Cotabato towns that voted to join the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) instead of remaining with their original province. These communities form the Special Geographical Area (SGA) under BARMM, which primarily encompasses the mainland Mindanao provinces of Lanao del Sur, Maguindanao del Norte, and Maguindanao del Sur, as well as the island provinces of Basilan and Tawi-Tawi. In a parallel effort, MSSD reached out to coastal Moro communities in Lebak, Sultan Kudarat, partnering with the Office for Other Bangsamoro Communities (OOBC) to distribute food packages consisting of a sack of rice and a box of grocery items to each beneficiary family. The food distribution was organized in response to a direct request from Danny Mangatong, chairman of the Lebak Bangsamoro Fishermen Cooperative (LBFC). Adolfo Arumpac, Social Welfare Officer at MSSD, emphasized that the outreach reflects the ministry’s commitment to support vulnerable Bangsamoro populations regardless of location. “This serves as a reminder that the [regional] government, through MSSD, recognizes the needs of our Bangsamoro communities and remains committed to supporting them, especially those who need assistance the most,” Arumpac said. OOBC Executive Director Noron Andan highlighted that the initiative paves the way for continued collaboration between the regional government and outside Bangsamoro communities. “We are not simply distributing rice. We are sharing hope, easing the burden of families, and demonstrating that when government, cooperatives, and communities work together, meaningful assistance reaches those who need it most,” said Andan in a statement delivered by Community Affairs Officer Samrah Karon-Patadon. tion for the Aral initiative, putting its future scale and execution at risk. To preserve these gains and expand the program’s reach to more struggling readers across the country, DepEd is formally requesting P15.63 billion in the 2027 national budget. Gatchalian assured education officials that the Senate will scrutinize the budget proposal to ensure the program receives the necessary funding to continue its nationwide rollout.
Thursday, October 29, 2026
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Dole eases rules for foreign workers By Mary Jade Jadormio
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HE Department of Labor and Employment (Dole) has streamlined the application process for foreign workers seeking to work in the country, cutting the processing time for the Alien Employment Permit (AEP) from 15 working days down to 10 working days while scrapping several redundant documentary requirements. Under the newly issued Department Order, Dole removed the prerequisite of submitting clearances and permits from other government agencies at the initial filing stage. Applicants are no longer required to present the following during AEP submission: n Philippine Construction Accreditation Board (PCAB) license n Professional Regulation Commission (PRC) Special Temporary Permit n Department of Justice (DOJ) Authority to Employ Alien n Department of Environment and Natural Resources (DENR) Authority to Hire Foreign National Dole clarified that while these documents are no longer needed to submit an AEP application, foreign nationals and their employers must still comply with the respective laws and mandates enforced by those regulatory bodies. To allow for necessary verification, the revised guidelines permit a one-time, 10-working-day extension, capping the maximum allowable processing window at 20 working days. In a major cost-cutting move for applicants and hiring companies, Dole eliminated the mandatory publication of Labor Market Test (LMT) notices in nationwide print newspapers. Instead, notices can now be posted digitally on
Dole’s official online portal and public repository, or submitted directly to the University of the Philippines Law Center. The updated rules also address third-party processing risks by allowing employers to directly designate internal human resources officers or authorized staff to process AEP applications, eliminating mandatory reliance on third-party agencies or external representatives. Furthermore, Dole restructured its fee collection process. Applicants will no longer pay filing fees upfront; payment slips will only be generated and issued after an application passes technical evaluation and achieves official approval. The revised order also introduces broad cross-agency and diplomatic provisions: n Diplomatic Channels: Philippine embassies and consulates abroad are now authorized to endorse preliminary AEP applications directly to the Bureau of Local Employment (BLE) or the Department of Foreign Affairs (DFA) via official diplomatic notes. n Cultural Orientation: Dole may now require foreign workers to undergo a mandatory orientation covering Philippine history, culture, and workplace regulations to facilitate smoother integration. n Healthcare Access: Legally employed foreign nationals under a valid AEP will be eligible to receive medical care benefits in government hospitals across the country. The policy overhaul aligns frontline services with the Anti-Red Tape Act of 2007 (Republic Act 9485, as amended by RA 11032, or the Ease of Doing Business Act), aimed at cutting bureaucracy while upholding national labor standards. The Department Order will officially take effect 15 days following its publication in a newspaper of general circulation.
Regulator targets bulk SIM owners in scam crackdown T
H E N a t i o n a l Te l e c o m munications Commission (NTC) has ordered mobile network operators (MNOs) to conduct strict verification checks on subscribers who have registered more than 100 SIM cards under a single individual name, warning that non-compliant numbers face permanent deactivation. Under a newly issued Memorandum Order, telecommunications companies have a strict 15-day window from receipt to execute KnowYour-Client (KYC) validations on these high-volume accounts. The mandatory checks will verify whether the registered end-users main-
tain physical possession and direct control over every SIM assigned to their name, and whether the lines are serving legitimate purposes. The directive marks a significant escalation in post-validation enforcement, specifically targeting the potential misuse of bulk-registered SIMs in organized scam networks, fraudulent financial operations, and illicit SMS blaster technology. The NTC said the consumer protection measure reinforces enforcement under Republic Act 12010, or the Anti-Financial Account Scamming Act (Afasa). Law enforcement authorities have previously flagged the proliferation of illicit SIM
networks used in financial fraud schemes, including deceptive business and agricultural investment offers exploiting regional climate concerns such as El Niño. While Republic Act 11934 (the SIM Registration Act) does not impose a statutory cap on the number of SIM cards an individual may legally register, the regulator stressed that ownership must reflect actual, lawful use. The NTC mandated that SIM cards must be deactivated immediately if registered end-users fail to demonstrate continued control or legitimate utility. This includes SIMs that were illegally resold,
HE financial consequences of losing a breadwinner can begin almost immediately. Food still has to be bought, tuition still has to be paid, and a household still has to keep running. For John Kenneth Bugal, 28, the eldest of seven siblings, the loss of his mother, Digna Bugal, meant not only grieving a parent but also confronting the responsibility of keeping his family afloat. Growing up in Pangasinan, John saw firsthand the sacrifices his mother made to support their family. For nearly a decade, Digna worked as a seafood vendor, relying on the income from the small livelihood to send John and his siblings to school and eventually help him reach college. He understood how much his mother had sacrificed for their family. So, when he started working as a mathematics teacher at a private school, a job he genuinely enjoyed for nearly five years, he saw it as a way to help lighten her load. His income allowed him to contribute to the household expenses and help support his siblings. For his mother, he said, having another source of income meant she no longer had to shoulder the family’s needs on her own. She could afford to slow down, get more rest and come home earlier instead of regularly returning late from work. “Since I started working, she has been able to afford other household expenses. And I managed expenses for my siblings, so it was easier for us to finance [our needs] because the two of us were sharing the household expenses,” John exclusively told the BusinessMirror.That arrangement, however, did not last long. In 2024, John‘s mother died of a stroke, leaving him to take on a responsibility he had never expected immediately to carry alone: providing for his six younger siblings. “After a few days of her passing away, naisip ko kaagad paano kaya kami ng aking mga kapatid in the next coming days? Saan kaya kami kukuha ng pambili ng pagkain? Paano ko susuportahan ang aking kapatid?” he said. [“A few days after her passing, I immediately began thinking about what would happen to my siblings and me in the days ahead. Where would we get money to buy food? How
would I support my siblings?”] By then, John had already left teaching. He resigned in 2023, a year before his mother’s death, after realizing that his earnings as a Pru Life UK financial adviser and freelance online tutor were comparable to his teaching salary. The decision proved to be a 'blessing in disguise.' When his mother died, he was able to stay in their province and care for his six younger siblings during the first few months of their loss, while continuing to earn through financial advisory work and online tutoring. The family also received financial support that helped cover their immediate needs, including the proceeds from a microinsurance policy his mother had taken out.
‘Her care, even after’
But one of the biggest sources of relief came from the insurance claim the family received from his mother’s Pru Life UK policy. John had served as his mother’s financial advisor and was the one who encouraged her to get insurance. He also funded the policy, having seen firsthand the importance of having financial protection in place. “Ma, kailangan mo ng insurance kasi once something happens, hindi ko kakayaning magisa,” he recalled telling her. [Ma, you need insurance because if something happens, I won’t be able to handle everything on my own] At the time, John said, he was not hoping for the policy to be used. Rather, it was about preparing for a possibility no family wanted to face. “Hindi naman natin hihilingin na mangyari ’yun, pero with the right planning, as early as that, parang naplano ko na kung ano ang puwedeng mangyari. So may safety nets kami,” he said. [We would never wish for that to happen, but with the right planning, even that early on, I had already planned for what could possibly happen. So we had safety nets in place]
transferred, or distributed without adhering to mandatory re-registration procedures. The regulator reminded the public that unauthorized SIM transfers constitute a criminal offense under RA 11934, carrying penalties of six months to six years imprisonment, a fine ranging from P100,000 to P300,000, or both. “Once these numbers are deactivated, it is permanent, unless the person can prove, by proper identification documents, that the affected SIM is reg istered persona l ly under their name,” See “Sim,” A8
Talisay City partners with businesses for growth By Carmel Pedroza
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EBU CITY—Talisay City in Cebu is actively courting stronger publicprivate partnerships to transform its portion of the South Road Properties (SRP), tailor workforce training to industry demands, and turn local heritage sites into bustling economic hubs. Speaking at the city’s business summit early this week, Mayor Gerald Anthony
Gullas Jr. rallied local entrepreneurs and investors to help chart a unified development strategy bridging education, commercial expansion, and tourism. To spur commercial activity along the Talisay side of the SRP, Gullas proposed collaborating with the Talisay City Chamber of Commerce and Industry (TCCI) to draft a dedicated investment code. The framework will outline zoning rules, target sectors, and competitive business incentives.
Rather than competing head-to-head with Cebu City’s mega-developments—such as SM Seaside, NuStar, and the SMX Convention Center—Talisay aims to position its coastal corridor as a complementary service hub. Gullas highlighted prime opportunities for budget and mid-range hotels, pension houses, cafés, restaurants, and convenience stores to cater to price-conscious visitors and event attendees. The strategy builds on the city’s Compre-
Life insurance helps son carry family after mother’s death T By John Eiron R. Francisco
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hensive Land Use Plan, which established long-term commercial zoning along the SRP while granting affected establishments until 2030 to comply. Gullas emphasized that establishing clear investment policies is the critical next step.
Workforce skills
GULLAS stressed that local residents must See “Talisay,” A8
John had started as a part-time financial advisor before becoming a full-time one prior to his mother’s passing. For him, the eventual payout came to represent more than financial assistance. It became, in a sense, an extension of the support his mother had provided for the family throughout their life. “On the beneficiary’s part, because of her claim, it feels like she’s still there supporting us even though she’s gone,” John said. The insurance proceeds helped the family manage their immediate needs and, eventually, supported the education of one of his younger siblings, who was able to graduate from college. “I wasn’t forced to go back to teaching. I wasn’t forced to look for other opportunities because there’s support financially even though she’s gone,” he emphasized. Still, the family initially had no certainty that they would receive the proceeds. His mother had held the policy for only about six months when she died, prompting an investigation by the insurer that lasted nearly a month. John said his mother was healthy and had no known illness when she obtained the policy. The uncertainty ended when the family received an email confirming that the claim had been approved. “I saw firsthand how life insurance has helped our family. So, when the claim arrived and it was approved, I cried,” he said. The experience was particularly emotional for John because, despite working as a full-time financial advisor at PruLife UK, he never expected that his own mother would be the first person whose family would experience the promise of the protection he was helping others secure. Rather than discouraging him, the experience strengthened his resolve to help more breadwinners prepare for the financial consequences of losing a family’s source of income. “Kapag pala na-feel mo na ang promise ni Pru Life UK, doon ka pala gaganahan na mag-trabaho, mag-approach pa ng maraming breadwinners na katulad ko [Once you experience Pru Life UK’s promise firsthand, that’s when you become even more motivated to work and reach out to more breadwinners like me] to protect their finances and the future of their family,” he said. According to John, the experience underscored how difficult it can be for a family to recover when one part of its financial foundation is suddenly gone. With the insurance claims, he said, the family did not have to feel as though everything had been reduced to zero. “Hindi mo mararamdaman na magbaback to zero ang family mo. Life will continue,” he highlighted. “There will be loss, but aside from loss, at least, life will continue.” The experience also deepened his view of insurance as both a profession and an essential part of financial planning. It showed him that the value of life insurance is not only measured by what it provides while a policyholder is alive, but also by the stability it can leave behind for the people who remain.
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Thursday, October 29, 2026
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Pampanga execs told: Preserve T access of farmers to deep-wells
PHL positions for critical minerals supply chain By Jonathan L. Mayuga
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By Ashley J. Manabat
LARK FIELD, Pampanga— Local civic group Pinoy Gumising Ka Movement (PGKM) is urging Pampanga provincial officials to protect farmers’ access to deep wells for irrigation, warning that proposed restrictions on groundwater extraction could severely threaten agricultural yields and compromise regional food security.
PGKM Chairman Ruperto Cruz stressed that local farmers require immediate, uninterrupted access to irrigation water and must be permitted to establish deep wells to sustain their crops through changing weather conditions. “We are grateful for the governor’s intention, but it should be urgent to provide deep wells to irrigate the farms,” Cruz said. “Farmers should be allowed to put up deep wells for our food security.” The civic group’s appeal follows a high-level water security meeting at the Provincial Capitol late last week, presided by Gov. Lilia Pineda and Vice Gov. Den-
nis Pineda. The summit brought together key stakeholders, including representatives from government agencies, local water districts, environmental offices, and private water utility providers. During the meeting, then Public Works Secretary Vivencio Dizon disclosed that provincial officials are evaluating a long-standing proposal from Manila Water Philippine Ventures Inc. to construct a bulk water facility. The project would tap the Pampanga River and adjoining river systems, shifting the province’s primary reliance from groundwater extraction to
surface water. Officials hope the transition will ease pressure on underground aquifers as Pampanga prepares for potential water scarcity linked to El Niño. Governor Pineda separately confirmed plans to push for a provincial ordinance restricting deep groundwater extraction, citing environmental degradation, climate change risks, and declining water quality at existing pumping stations. “Gagawa na tayo ng ordinance na bawal nang mag-extract ng tubig sa ilalim ng lupa. Kailangan ko ng gumawa ng ordinance kasi nakakatakot na ang climate change,” Pineda said in an interview. The governor also pointed to economic timing and infrastructure investment as driving factors. “Baka by the time na magdesisyon ang mga water districts na ito, by the time...baka wala na kaming investor kasi mahirap ang investor kailangan ngayon palang samantalahin mo na.” Clarification regarding the proposed ordinance’s exact scope, status, and potential agricultural exemptions was sought from the Governor’s Office through the Provincial Information Office. The office had not responded as of publication time.
Monopoly concerns
CRUZ reiterated that guaranteeing water access for crop production
must remain the province’s immediate priority. He warned that if farmers are prevented from adequately irrigating their land, harvest yields will plummet, triggering broader food supply shortages. In addition, he raised concerns over privatization and market dominance regarding essential natural resources. He questioned whether the bulk water facility would effectively address the province’s long-term demands without creating unnecessar y operational risks. “It’s not good to go monopoly, especially when we’re talking about water,” Cruz cautioned. Addressing broader infrastructure needs, Dizon noted that the national government is exploring surface water development strategies designed to tackle dual challenges: flood mitigation and dry-season water supply. Among the solutions under review is the construction of detention basins to capture overflow for multi-purpose use, including agricultural irrigation, flood prevention, and household consumption. The policy debate underscores the growing balancing act facing Pampanga as leadership attempts to safeguard long-term groundwater sustainability while satisfying the competing demands of local agriculture, residential consumption, and industrial growth.
US seeks critical mineral partnership with PHL By Jonathan L. Mayuga
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DEEPER commercial relationship with the United States stands to bring critical technology and industrial expertise to the Philippines as Washington seeks to fortify secure, trusted supply chains for strategic minerals, according to a senior US Embassy official. Speaking at the Mining Philippines 2026 International Conference and Exhibit in Pasay City, US Embassy Manila Senior Commercial Officer Gregg Harris outlined the surging demand in the US market and underscored how the Philippines can integrate directly into American and allied industrial supply chains. “What could the Philippine mining industry look like in five or 10 years from now with deeper cooperation from the United States and partners? More importantly, what can we do to make that a reality?” Harris asked attendees. The commercial push coincides with US economic policy under President Donald Trump and Commerce Secretary Howard Lutnick, which prioritizes rebuilding domestic manufacturing and securing supply chains through domestic production and reliable international partnerships. Harris highlighted the Philippines’ vast, untapped natural wealth,
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said NTC Deputy Commissioner Alvin Blanco. In light of the upcoming audit, Blanco
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“Through the ADMM and the ADMM Plus, particularly the working groups and the interaction between our establishments down the line, we have made significant strides in areas such as maritime security,
emphasizing its potential to become a pivotal player in the global network. “We see the Philippines and treaty partners as an essential part of the global supply chain,” he said. He noted that critical minerals such as copper, nickel, and cobalt are fundamental inputs for key growth sectors, including semiconductors, advanced manufacturing, aerospace, defense, and clean energy—industries that both the US and the Philippines aim to expand. “Our vision is a deeper commercial relationship in which Philippine mining companies benefit from American technology and industrial expertise, which will help build more diverse and secure supply chains for the Philippines, the US, and allied partners,” Harris said. While the Philippines is already a major producer of nickel and copper, Harris said the central challenge is enabling local enterprises to capture higher value from their raw materials rather than relying solely on direct extraction exports. Harris reported sustained interest from US companies eager to finance, develop, or modernize mining operations across the archipelago— ranging from greenfield developments to productivity and sustainability upgrades at existing sites.
Potential areas of cooperation include high-tech mining equipment, advanced drilling systems, automation, geospatial mapping tools, and processing infrastructure aimed at improving recovery rates and operational efficiency, building on progress already observed in the Visayas and Cebu. “In all of this, the economics must work,” Harris stressed. “Somebody’s going to have to leave some money somewhere, or it’s going to fail. So, let’s make it more productive, finance it well, and we will all be successful.” Beyond mineral extraction, Harris emphasized environmental stewardship and resource management, identifying US firms like water technology provider Aquatech, specialized pit-lining firms, and global engineering giant Bechtel as key players interested in local partnerships. “Imagine the Philippines, that it’s not simply recognized as a leading producer of nickel and copper, but also a regional hub for mining technologies, processing, and reliable industrial supply chain relationships,” Harris added. The initiative builds upon the existing US-Philippines Memorandum of Understanding on Critical Minerals. Harris detailed four key US government tools designed to move projects from feasibility to execution: US Trade and Development Agency
(USTDA): Grants funding for early-stage feasibility studies at no cost to local partners, such as its November 2022 project with Eramen Minerals for a nickel and cobalt processing facility. Export-Import Bank of the United States (Exim): Operates a $10-billion financing program dedicated to backing US capital equipment exports. US International Development Finance Corporation (DFC): Provides direct debt financing, equity investments, and political risk insurance. Strategic Transactions Advocacy Track (STAT): A US Department of Commerce program designed to support critical mineral processing initiatives and evaluate project financing on a case-by-case basis. “So you can see that we are here to not only talk and tell you about DSE, but to actually get you to a project implementation—from the beginning of the feasibility study to the financing and the first shovels into the ground,” Harris said. Closing his presentation, Harris encouraged Philippine mining companies and government officials to engage with the US Commercial Service to identify operational requirements, match with U.S. industry partners, and attend MINExpo International, scheduled for September 2028 in the United States.
urged subscribers to ensure that all active SIM cards in their daily use are properly registered in their own names. He noted that verified registration is particularly critical for mobile numbers linked to digital banking applications, over-the-
top (OTT ) messaging platforms, and mobile wallet services to avoid service disruptions once telcos begin purging flagged accounts. Blanco assured the public that the exercise is designed solely to eliminate
fraudulent activity and preser ve the integrity of the national SIM registry, emphasizing that law-abiding subscribers using their registered SIMs legitimately will not be adversely affected.
the protection of critical underwater infrastructure, although more needs to be done quicker, and people-to-people exchanges. And we hope to build on these efforts in the days to come,” Teodoro stressed. Amid supply chain challenges from conflicts beyond Asean shores, Teodoro said that they also see value in expanding
cooperation to secure food and energy security. This initiative gains in importance as Southeast Asia braces for a super El Niño, which will likewise affect food, water, electricity, and connectivity in our respective countries, thereby having serious potential security implications. Third and last, as defense and military
practitioners, the DND chief said they know what the threats that are existing in our region, how they affect the safety of our citizens and the stability of the region. “Therefore, we hope to foster an environment that is conducive to frank and open exchanges of views throughout the week in the spirit of candor and Asean solidarity,” Teodoro also said.
Lorenz S. Marasigan
HE Philippines possesses the geological potential to become a cornerstone player in the global critical minerals supply chain, provided the government and the private sector maintain a unified, deliberate push toward domestic processing, the Department of Environment and Natural Resources’ (DENR) assistant secretary for mining concerns, Michael Cabalda, said. Speaking at the Mining Philippines 2026 International Conference and Exhibit in Pasay City, Cabalda pointed to Philex Mining Corporation’s Silangan Project in Surigao del Norte as a prime operational model for transforming the nation’s extractive sector. “Our action must be deliberate. We cannot go from one to three. It is best that we really have a rebust on the upstream and the midstream part,” said Cabalda, a licensed mining engineer and environmental strategist with over 40 years of experience managing safety, health, environmental, and social policy across all stages of mining. “Silangan-Philex is a classic example of how to do it for the critical mineral industry. Silangan will be announcing its commercial production very soon,” Cabalda added, referring to the major copper-gold development operated by Silangan Mindanao Mining Co., Inc. (SMMCI). Cabalda highlighted that the Silangan project is targeting the production of copper cathodes—a crucial intermediate material used to manufacture electrical wiring and high-value copper products and by-products. Cabalda emphasized that the global energy transition and rapid technological advancement have elevated critical minerals to strategic assets, exposing severe vulnerabilities in global supply networks. “As the demand for these resources increases, the need to address the supply vulnerability has also become a global concern. Production, processing, and refining are concentrated in very few jurisdictions, making trade restrictions and supply shocks a constant risk,” Cabalda explained. He noted that international markets are urgently seeking diversified, reliable, and responsible long-term partners. While international strategies are being forged to secure resilient supply chains, the Philippines’ rich geological endowment naturally positions it as a key candidate. However, Cabalda warned that natural resource wealth alone is insufficient without a clear economic strategy to leverage global demand. A cornerstone of the government’s strategy is Executive Order 122 that was issued last August. The order establishes an over-arching policy framework to accelerate the development of the Philippines’ critical minerals industry and reorganizes the Min-
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directly benefit from incoming investments through targeted workforce development. Talisay City College—which recorded nearly 8,200 enrollees this year and nearly 8,000 graduates between 2017 and 2026—continues to broaden its academic footprint. Alongside traditional degrees in education, hospitality, and industrial technology, the institution recently introduced programs in political science, physical education, entrepreneurship, and tourism management. The city initially funded these expansions while pursuing inclusion under the Commission on Higher Education’s (CHED) free higher education program. To keep the curricula aligned with market demands, Gullas urged business leaders to identify emerging skill gaps in sectors like information technology, accounting, logistics, and hospitality. Concurrently, the city is scaling up technical-vocational education through its government-operated Technical Education and Skills Development Authority (Tesda) center in barangay Lagtang. The facility produced 600 graduates this year, bringing its 2025–2026 total to 1,400. Training spans critical trades including bookkeeping, culinary arts, electrical installation, driving, welding, and computer systems servicing. To streamline these initiatives, Gullas asked the City Council to enact an ordinance establishing a standalone department for technical-vocational programs, removing them from the Social Welfare Department’s purview. This dedicated unit will allow direct coordination with corporate partners to train welders, electricians, and service personnel against active job openings.
Heritage, tourism as economic drivers
TALISAY is also gearing up to take
ing Industry Coordinating Council (MICC) to oversee its execution. “This is not merely another policy document sitting on the shelf. EO 122 formally shifts our national posture from raw mineral extraction and export toward domestic processing, value addition, industrialization, and high-value integration,” Cabalda said. Outlining a five-stage pathway from raw in-ground deposits to high-value manufacturing, Cabalda detailed the government’s immediate roadmap: “Friends, in the remaining two and a half years of this administration, the government’s focus is on building the bridge between Step 1 and Step 3. We cannot jump straight to the end of the product manufacturing overnight. That is a realization that we know. But we can and will de-risk and establish the domestic processing capacity that makes Step 4 and 5 inevitable.” Cabalda explained that EO 122 rests on four core pillars: State Ownership & National Priority: State ownership of mineral resources is maintained, but critical mineral developments are officially designated as national priority projects under a whole-of-government mandate. Real Value Addition: Economic growth will be driven by domestic processing rather than sheer raw-volume export. SDG-Aligned Benchmarks: Resource utilization must adhere strictly to environmental, social, and cultural standards aligned with the United Nations Sustainable Development Goals (SDGs). Policy Predictability: A commitment to maintaining a stable, transparent, and internationally competitive investment environment. Cabalda reassured investors that the DENR will honor existing contracts, eliminate regulatory inconsistencies, and coordinate across government agencies to foster capital investment confidence. To operationalize the executive order, the DENR’s Mines and Geosciences Bureau (MGB) and Environmental Management Bureau (EMB), in consultation with government agencies, academia, and industry leaders, established a methodology to define the country’s official critical minerals list. The DENR-EMB has identified 11 critical minerals essential to national priority planning: gold, silver, copper, molybdenum, nickel, cobalt, scandium, iron, chromium, limestone and silica. The official identification of these priority minerals will determine where government facilitation, fiscal incentives, and investment promotion are concentrated moving forward. “If you are investing in processing and value-adding for these minerals, you have the full focus of the government behind you,” Cabalda also said.
advantage of its historic landmarks to convert passing travelers—heading to South Cebu destinations like Simala, canyoneering spots, and whale-watching areas—into staying visitors. Key infrastructure projects slated for completion by late next year include: n Upgrades to the Talisay Landing and Poblacion Boardwalk, n Renovation of the Talisay City Lechon Park, n Rehabilitation of the City Hall Plaza (with phased upgrades and a potential Christmas water show) These projects aim to celebrate Talisay’s rich history—including its World War II liberation landing site and the legacy of the resistance-leading Quatro Alinos brothers—while capitalizing on its iconic culinary tradition. While the local government builds the public infrastructure, Gullas noted that private enterprise must drive sustained activity by opening dining, shopping, and hospitality venues around these focal points. Commercial spaces will be offered for lease or private investment in line with regulatory requirements.
Unified vision
ECHOING the mayor’s call, TCCI President Macario Cabusas II urged members to translate discussions into concrete investments that improve the local business environment. He stressed that the summit aimed to move beyond highlighting potential toward delivering real economic momentum. Closing the summit, Gullas reiterated that economic progress will ultimately be judged by its human impact. “The success of development should not be measured solely by the amount of investment entering Talisay, but also by the opportunities it creates for residents,” he added.
Thursday, October 29, 2026
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Malaysian palm oil NFA targeting to expand rice glut swamps storage stocks by hiking buying price in top-growing state HE National Food M Authority (NFA) has By Ada Pelonia
ALAYSIA’S swelling palm oil inventories are straining storage capacity in the country’s topproducing state, as a bumper harvest piles pressure on the government to clear excess supplies. Tanks in Sarawak on the island of Borneo are nearing capacity after a bigger-thanexpected harvest and soaring freight costs slowed shipments, according to industry executives and planters. The state accounts for more than a fifth of Malaysia’s palm oil output. Most of that moves through Bintulu Port, which handles more than 90 percent of Sarawak’s exports, concentrating the glut at a crucial gateway as production surges. Inventories across Malaysia, the world’s second-biggest palm oil producer, hit a record 3.51 million tons in September, when production also reached an all-time high— even before the seasonal output peak that typically arrives in October. The mounting glut is adding urgency to government efforts to draw down stockpiles, including a potential waiver of export taxes on crude palm oil to spur overseas sales. The oversupply is already weighing on prices. Benchmark palm oil futures in Kuala Lumpur closed lower on Tuesday after falling as much as 2.2 percent, the steepest drop in more than a month. The decline from a peak in August has widened palm oil’s discount to rival vegetable oils, helping spur exports this month. Still,
bloated inventories are keeping a lid on any sustained price recovery. Government and industry officials met last week to discuss ways to tackle the swelling stockpiles, including measures to move excess supplies overseas, as concerns grow that storage tanks are running out of space, according to SD Guthrie President and Group Chief Executive Officer Mohd Haris Mohd Arshad. The government is reviewing proposals from the industry to address the glut, Plantation and Commodities Minister Noraini Ahmad said. “At this stage, it is still under consideration and requires further discussion.” A prolonged shortage of tank space could eventually force mills to slow processing, disrupting the flow of fresh fruit from plantations and smallholders at the height of the harvesting season. “We don’t want to jeopardize the supply chain,” Haris said in an interview Friday, adding that the government must act quickly to give the industry time to plan and prepare. “The last thing we want is for farmers not to be able to sell their fruit.” Sarawak is seeing its strongest production surge in years, while high diesel prices and freight costs have added to the logistical strain, according to planters operating in the state. Some companies have brought additional mills online, while authorities are exploring the use of other Sarawak ports to ease the bottleneck, a senior planter said.
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increased its buying price for paddy rice to P30 per kilo in most provinces in its bid to beef up its buffer stock by yearend. Data obtained by BusinessMirror showed that the NFA has procured only 144,390 metric tons (MT) of unmilled rice as of October 23, less than a fifth or 18.28 percent of its 790,000-MT target for 2026. To shore up its palay procurement, the NFA decided to increase its buying price in most provinces to P30 per kilo, the maximum price for clean and dry palay under its PRICERS program, effective October 26.
NFA Administrator Larry Lacson noted that the move aims to encourage farmers to sell their wet season harvest to the grains agency. “[We increased the buying price] to better encourage farmers to sell to the NFA,” he told this newspaper. “Medyo matumal [it’s a bit slow[, not as expected, kaya mas naging aggressive kami [so, we became more aggressive].” Lacson said the agency is looking into the possible reasons behind the latest
procurement outcome. In September, when its buying price for dry palay stood at P27 per kilo, the NFA purchased 23,237 MT of unmilled rice, some 24 percent of its 94,685-MT target. If the NFA fails to entice farmers to sell more palay to the grains agency with its current prices, it could fall short of procuring 139,470 MT of paddy rice this month, since it has so far procured only 35,397 MT. Earlier, Lacson said the NFA might not hit its target for this year due to the dry spell’s impact on plantations: “If the El Niño is severe, I cannot hit [the target of] 790,000 MT.” Despite this, he expressed confidence that the grains agency could purchase 500,000 MT of unmilled rice during the harvest of wet season crop. “As long as everything that [farmers] sell [to the NFA] is clean and dry, we can absorb up to 500,000 MT.” Last August, the NFA increased its selling price for
milled rice to P35 per kilo from P33 per kilo, as part of efforts to trim the losses it incurred from selling the staple below prevailing market prices. (See: https://businessmirror. com.ph/2026/09/29/nfaraises-rice-selling-priceby-p2-kilo/) “This would trim our losses. Also, our selling price is already too low compared to the market [prices],” Lacson previously told this newspaper. The approved selling price covers milled rice sold to local governments (LGUs), government agencies, and the Food Terminal Inc. (FTI) for the P20 rice program. The price only differs for aging rice stocks or those stored in warehouses for more than three months, which is sold at P32 per kilo. Latest figures from the grains agency showed that it has distributed 207,648 MT of rice from January to September, of which 126,737 MT went to the P20 rice program.
www.businessmirror.com.ph
A10 Thursday, October 29, 2026
Co-ops tell govt to rethink food security policy By Ada Pelonia
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@adapelonia
OOPERATIVES have joined farmers in urging the Department of Agriculture (DA) to implement measures that would ensure the sustainability and viability of the domestic hog sector, as farmgate prices have plummeted below breakeven point. The Philippine Chamber of Cooperatives Inc. (Coop Chamber) called on the DA to implement “timely and substantial” measures to support the local swine industry, since farmgate prices reportedly nosedived to P130 per kilo, lower than the estimated production cost of P180 to P190 per kilo. Aside from this, hog raisers are still dealing with the lingering effects of African swine fever (ASF),
rising production costs, and competition from pork imports. “While we acknowledge the state’s mandate to ensure accessible food pricing, we believe that this goal should not come at the expense of our domestic agricultural sector,” the group said. It added that policymakers should reconsider “import-centric” strategies, pointing to the reduced tariff scheme under Execu-
tive Order (EO) 62, which remains in effect until 2028. “These measures, while appearing beneficial in the short term, may jeopardize our long-term food sovereignty and resilience. We advocate for policies that foster sustainable growth for local producers while also serving the interests of consumers.” Coop Chamber outlined their policy recommendations for the DA, which mirrors the calls of producers, including temporarily suspending import clearances for certain pork cuts to absorb domestic oversupply. The group also called for a “swift” reversion of tariffs levied on pork shipments to 30 percent for in-quota and 40 percent for out-quota shipments to level the playing field. It added that the government’s budget should empower cooperatives by funding cold chain facilities, processing hubs, and shared logistics to modernize the supply chain and permanently reduce local production costs.
THE National Federation of Hog Farmers, the Samahang Industriya ng Agrikultura and backyard hog raisers from Bulacan asked the government on Wednesday to stop importing pork and to prioritize the local livestock industry. PHOTO BY NONOY LACZA
Raisers exit sector
IN a separate development, Samahang Industriya ng Agrikultura (Sinag) said the number of backyard hog raisers in San Mateo, Norzagaray, Bulacan fell by more than half to less than 1,000. Raisers from Sinag and the National Federation of Hog Farmers (NatFed) said the national govern-
Higher corn MAV aims to cut cost of animal feeds–DA
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NCREASING corn imports by lowering tariffs would slash the cost of animal feeds and prevent meat prices from spiraling out of control, according to the Department of Agriculture (DA). The agency issued the pronouncement after President Ferdinand Marcos Jr. issued Executive Order (EO) 129, which expanded the minimum access volume (MAV) for corn to 500,000 metric tons (MT). The EO increased corn import quota by 280,000 MT from the current 220,000 MT, following a projected supply shortfall that could potentially jack up food costs. Agriculture Secretary Francisco Tiu Laurel Jr. said maintaining an ample supply of affordable corn would help sustain livestock and poultry production, since feed accounts for a significant share of operating expenses for hog raisers and poultry producers. “Ensuring a sufficient supply of low-priced corn is essential to
supporting animal feed production, keeping production costs of meat affordable and protecting the country’s food security,” he said. “We need to make sure our livestock and poultry industries have access to the feed ingredients they need without placing additional pressure on consumers.” The DA said the additional imports would be allowed during the lean season, serving as a supplement to domestic production rather than displacing locally harvested corn. The agency noted a projected yellow corn deficit of about 1.42 million metric tons (MMT) from March through December 2026. The government cited production constraints and rising input costs, with weather-related disruptions and the potential effects of El Niño posing additional risks to supply. “Corn is a principal energy source in livestock and poultry
feeds. Any sustained increase in its price can raise procurement costs for feed millers, increase expenses for livestock raisers, and eventually translate into higher prices for meat products.” Under the law, the adjustment for MAV quota was deemed approved after lawmakers took no substantive or dispositive action within the prescribed 15-day period. The EO directs the MAV Management Committee to issue implementing guidelines within 30 days of its effectivity. These must provide transparent and equitable allocation of the additional import volume, including access for qualified feed millers, manufacturers and eligible farmers’ groups producing feed for their own livestock and poultry operations. The DA also said it is pursuing measures to prevent hog raisers from incurring more losses, including the restoration of higher
tariffs on imports and a temporary suspension of import clearances for selected pork cuts. The agency said it is keen on restoring the 30 percent tariff for in-quota pork imports and the 40 percent for out-quota shipments. The DA said it cannot raise tariffs on its own, as changes would require the imprimatur require action involving the Tariff Commission (TC) and other government agencies. The agriculture chief said the department intends to suspend the issuance of sanitary and phytosanitary import clearances (SPSICs) for selected pork cuts once legally permitted, with the suspension expected to begin around midNovember until January next year. The DA is also pushing for a general safeguard measures investigation into rising pork imports, which could lead to additional protective duties if warranted under the applicable rules. Ada Pelonia
PCC developing water buffaloes that can tolerate heat
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HE Philippine Carabao Center (PCC) is developing heat-tolerant water buffaloes that can sustain milk production and reproductive performance amid the threat of El Niño-driven droughts on livestock. According to PCC, extreme heat could reduce livestock’s productivity, disrupt reproduction, and increase susceptibility to disease and mortality. With this, the agency’s National Institute for Animal Sciences (NIAS) is implementing a project titled “Development of Climate-Smart Interventions to Enhance Water Buffalo Production in Heat-Stressed Conditions in the Philippines,” which is in its second phase.
Funded by the Department of Agriculture’s Biotechnology Program (DA-Biotech), the project aims to identify water buffaloes with natural heat tolerance and develop reproductive interventions to sustain their productivity during hot weather. The PCC said the research builds on its Genetic Improvement Program (GIP), which aims to enhance the genetic potential and overall productivity of water buffaloes. “Researchers are now incorporating thermotolerance, or the ability to withstand high temperatures, as an additional trait in selecting breeding animals.” The approach would help identify male and female buffaloes with heat-tolerant traits that could eventually produce offspring capable of
maintaining their physiological stability and productivity under heat-stressed conditions, the PCC explained. “The team found that buffaloes identified as thermotolerant were able to maintain relatively stable milk production, with smaller declines in milk yield during periods of high temperatures,” the agency said. “These findings highlight the potential of incorporating thermotolerance into the agency’s genetic improvement efforts to develop buffaloes that are both productive and more resilient to extreme heat.” Beyond genetic selection, the PCC said the project also wants to improve buffalo reproduction during the summer months, when high temperatures can adversely
affect conception rates. It added that researchers developed an enhanced reproductive intervention called the “summer protocol for reproduction,” which builds on the agency’s existing timed artificial insemination (AI) technology. The modified protocol introduces an additional treatment intended to improve the effectiveness of timed AI during high temperatures, according to PCC. Through the integration of genetic improvement and enhanced reproductive technologies, the agency said it aims to develop “practical, science-based interventions” that would help buffalo farmers sustain production despite changing climatic conditions. Ada Pelonia
ment must prioritize the local hog industry, restore pork tariffs, and stop the importation of pork. Further, Sinag also called on President Ferdinand Marcos Jr. to immediately issue separate EOs that would restore tariff rate for pork to their original level and suspend shipments for a minimum of four months or until the local
industry has recovered. The DA said it supports the hog raisers’ appeal to raise tariffs on cheaper pork imports: “I’m on the side of Filipino hog raisers. We will do whatever is in our power to provide the swine industry immediate relief,” Agriculture Secretary Francisco Tiu Laurel Jr. said. He noted that “once we are legally allowed,” the DA would suspend the issuance of sanitary and phytosanitary import clearances (SPSICs), likely by mid-November, to halt imports of selected pork cuts through January next year. The DA chief said his agency would assess meat processors’ requirements and consider import exemptions where warranted. Despite this, the DA said it does not have the power to adjust tariffs. Any tweaks would require action from the Tariff Commission (TC) and other government agencies, thus limiting its ability to deliver immediate relief through higher import duties.
Pork slump worsens as high gas prices curb road trip pit stops
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HE US pork industry, already struggling with weak demand, is facing another blow: high gasoline prices. Pork producer Smithfield Foods Inc. on Tuesday said fuel costs, which have surged since the start of the war in Iran, weighed on its quarterly pork sales. “US consumers remain pressured due to persistent inflation and high gas prices,” which has impacted consumption levels, Chief Executive Officer Shane Smith said on the company’s earnings call. Higher gasoline prices strain overall consumer wallets, while also weighing on American driving habits, as hot dogs and bacon breakfasts are linked to US car culture. Bacon consumption is a “complement to restaurant meals and road trips, which historically slow when inflation and gasoline prices are high,” the US Department of Agriculture said in a monthly report. Wholesale pork values have plummeted to the lowest level in more than five years, according to the US Department of Agriculture. That’s as weak demand has weighed on the values of pork bellies, used for bacon, and hams. The pork industry hasn’t reaped the full benefits of the US’s protein craze, as shoppers remain less familiar with its protein content and how to cook the meat. Meanwhile, gasoline demand was lower in June and July compared to the prior year, according to the US Energy Information Administration, a signal that high prices weighed on driving during the peak travel summer season. Smithfield cut its annual guidance for the second time this year, after third-quarter sales dropped 8.3 percent. Annual adjusted operating profit is seen ranging from $900 million to $1 billion, down from $1.23 billion to $1.38 billion. Its fresh pork and hog production segments are expected to post losses; both were previously forecast to be profitable. Smith said the company is “focused on reducing market risk,” including through a new long-term supply agreement with an existing joint venture partner that will reduce annual internal hog production by 900,000 animals. “This strategy will not eliminate commodity volatility, but it reduces capital and earnings exposure and improves the durability of our integrated model across the cycle,” he added. Meanwhile, the company continues to evaluate opportunistic acquisition opportunities. That comes after the company closed its acquisition of hot dog brand Nathan’s Famous. Smith added that the company will accelerate its innovation pipeline, building on launches like its grass-fed beef hot dogs earlier this year. Bloomberg News
Govt asked to ready relief packs, prioritize farming communities By Butch Fernandez @butchfBM
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OVER NMENT agencies should preposition relief supplies and implement early interventions to protect vulnerable communities from the anticipated impacts of a strong El Niño, as these concerns must be acted on before conditions worsen. Senator Francis N. Pangilinan, in making the call, said the government must prioritize low-income families, farmers, fisherfolk, agricultural workers, and other vulnerable sectors who are likely to bear the brunt of prolonged
dry spells, rising food prices, and potential losses in agricultural livelihoods. “As they say, prevention is better than cure, right? Instead of finger-pointing when the problem becomes full-blown, why don’t we all prepare now? Since we all know the Super El Niño at and coming and for sure, it’s the farmers, fisherfolk and low-income households who will be hit first,” said Pangilinan, chair of the Senate Committee on Agriculture, Food, and Agrarian Reform. Pangilinan has been pushing for reforms and modernization in the agriculture and fisheries sec-
tors to strengthen the country’s food security. With the looming threat of a strong El Niño, the senator has also proposed an eight-point action plan to mitigate its impact on vulnerable communities, agricultural production, and food supply. Citing Section 9 of Republic Act 12287, or the Declaration of State of Imminent Disaster Act, Pangilinan emphasized the need for anticipatory measures, including the prepositioning and distribution of food and nonfood items, mobilization of response teams, and assistance to vulnerable communities.
Under his proposed action plan, Pangilinan called on the Departments of Agriculture, Social Welfare and Development, Health, the Interior and Local Government, the Office of Civil Defense, and concerned local government units to coordinate the preparation and implementation of local readiness plans. “ These plans must identify available supplies, storage and distribution facilities, transport arrangements, and personnel responsible for delivery. Water tankers, pumps, treatment equipment, and repair teams must also be readied for deployment where
needed,” the senator said. “Priority must be given to vulnerable households, with clear delivery schedules and safeguards to ensure that assistance reaches intended beneficiaries without unnecessary delay.” Pangilinan also called for an inventory of available relief supplies, identification of high-risk ba ra ngays a nd commu nit ies, clear distribution arrangements, and replenishment plans to ensure that essential assistance can be delivered promptly when needed. He identified farmers and fisherfolk, low-income households,
children, pregnant and lactating women, senior citizens, persons with disabilities, and residents of geographically isolated and disadvantaged areas as among those who should be prioritized in the government’s preparedness and relief efforts. The eight-point action plan also calls for appropriate disaster declarations, identification of available funds, protection of farms and water systems, enforcement of applicable price controls, measures against profiteering and hoarding, livelihood assistance, and a public accountability system to monitor government interventions.
A BusinessMirror Special Feature
www.businessmirror.com.ph
Thursday, October 29, 2026
Housing Financing Opportunities Open New Doors for Empire East Homebuyers A
S borrowing costs and household budgets shape homebuying decisions, Empire East highlights its successful housing loan partnerships and encourages more Filipinos to explore available financing opportunities. For many Filipino families, owning a home is both a personal milestone and a major financial decision. With rising living expenses and changing interest rates, finding the right financing arrangement has become just as important as choosing the right property. Yet amid these economic challenges, new opportunities are emerging for qualified homebuyers. Recent housing loan programs from Pag-IBIG Fund, alongside promotional financing offers from banking institutions, are giving prospective homeowners more options to manage their monthly amortizations and long-term financial commitments. For Empire East Land Holdings, Inc., these developments reinforce the importance of its continuing partnerships with Pag-IBIG Fund and accredited banks in helping buyers achieve homeownership.
Financing Partnerships That Deliver Results
Empire East has established a strong track record in facilitating housing loan applications and approvals through its financing partners. “Our strategic partnerships with Pag-IBIG Fund and accredited banking institutions reflect our commitment to making homeownership more attainable for Filipino families. Beyond helping buyers secure financing, we want to make their journey to owning a home more manageable
by providing options that consider their needs and financial capacity. Through these partnerships, we hope to help more families make informed decisions and move closer to turning their dream of homeownership into reality,” said Empire East Chief Operating Officer Mr. Lino P. Victorioso, Jr. For existing Empire East buyers, access to financing provides an important pathway toward completing their property purchases. For prospective homeowners, these established partnerships offer financing alternatives worth exploring before making a purchase decision.
late into meaningful changes in monthly amortization, making the choice of financing institution and loan program an important part of responsible homeownership.
More Homeownership Options Through Pag-IBIG and Partner Banks
Empire East continues to provide access to Pag-IBIG housing loan financing for eligible units in selected residential developments, including Little Baguio Terraces, The Cambridge Village, and Kasara Urban Resort Residences. These communities offer prospective homeowners the opportunity to explore property ownership through Pag-IBIG's available financing programs, subject to loan qualification and approval. Complementing these options are Empire East's accredited banking partners, which offer various housing loan arrangements, including competitive interest rates and selected promotional terms. These financing partners include Agribank, Bank of Makati, CTBC Bank, RCBC, Maybank, UnionBank, Cebuana Lhuillier Rural Bank, Chinabank, Bank of Commerce, BDO, Metrobank, Philippine Business Bank, Philippine Veterans Bank, and UCPB Savings Bank. Together, these financing alternatives allow buyers to compare loan terms, evaluate monthly repayment requirements, and identify arrangements that best suit their financial circumstances.
A Timely Opportunity Amid Changing Interest Rates
Housing affordability remains closely tied to the broader economic environment. According to the Bangko Sentral ng Pilipinas (BSP), its Monetary Board raised the benchmark policy rate by 50 basis points to 5.50% in October 2026 amid heightened inflation risks. This underscores the importance of carefully evaluating borrowing costs and available financing arrangements. At the same time, under PagIBIG Fund's expanded housing loan program, qualified borrowers may avail themselves of promotional interest rates of 4.5% and 5.75% per annum, depending on the applicable loan amount and financing category. As announced by the Presidential Communications Office, these rates are fixed for the first three years and are available for eligible applications received until December 31, 2026. Subsequent interest rates are subject to Pag-IBIG Fund's applicable repricing terms.
These financing programs present opportunities for qualified buyers to secure defined interest rates during the initial years of their
housing loans, subject to eligibility and applicable loan conditions. Even relatively small differences in interest rates can trans-
The Right Time to Explore Homeownership
While property ownership requires careful financial planning,
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waiting to explore financing options may also mean missing promotional programs with limited application periods. For qualified homebuyers, understanding available loan terms today can help them make betterinformed decisions about when and how to purchase a property. Empire East encourages existing buyers with outstanding balances to inquire about available financing arrangements and assess whether Pag-IBIG or bank financing is appropriate for their needs. Prospective homeowners are likewise invited to explore available Empire East residences and discover how current housing loan programs may help them take the next step toward owning a home. “Our direction has always been to expand homeownership opportunities for more Filipinos. By continuously strengthening our residential communities and financing partnerships, we aim to make owning a home a more attainable goal for Filipino families, while giving them greater confidence in planning for their future,” said Empire East President and CEO Atty. Anthony Charlemagne C. Yu. Through its established financing partnerships and available promotional programs, Empire East continues to help Filipino homebuyers navigate their financing options and take informed steps toward property ownership. Your next home may be closer than you think. Explore your financing options with Empire East today. Interested homebuyers may contact Empire East through its official sales channels to inquire about available properties, PagIBIG housing loan eligibility, participating banks, and current financing offers. All loans are subject to the financing institution's prevailing terms, conditions, and approval requirements.
A12 Thursday, October 29, 2026
PHL-led ASEAN mission heads into Myanmar conflict zones ahead of Manila summit
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By Malou Talosig-Bartolome
OREIGN Affairs Secretary Ma. Theresa Lazaro, serving as the ASEAN Chair’s Special Envoy on Myanmar, on Wednesday led a humanitarian mission to conflictaffected areas of Myanmar as Southeast Asian leaders prepare to revisit the crisis at a summit in Manila next month. Lazaro is heading an ASEAN Monitoring Team (AMT) mission, in coordination with the ASEAN Coordinating Centre for Humanitarian Assistance on Disaster Management (AHA Centre), to support the delivery of aid to displaced and vulnerable communities in Kayin State, Southern Shan State and Northern Shan State. The mission began in Taunggyi, Southern Shan State, and launches a month-long operation expected to reach more than 11,000 households
with rice, family kits and hygiene supplies. The operation will also mark the AHA Centre’s first humanitarian assistance delivery in Northern Shan State, a region where access has long been constrained by conflict and insecurity. Myanmar is facing one of the world’s worst humanitarian crises. Aid agencies estimate that nearly 16 million people, or about onethird of the population, will require humanitarian assistance this year,
while roughly 4 million people have been displaced by conflict, economic hardship and natural disasters. The regions covered by the ASEAN operation are among the hardest hit. In Northern Shan State, years of fighting have disrupted transport links and supply routes, leaving many communities isolated from humanitarian assistance. Kayin State continues to experience armed clashes and displacement, while Southern Shan State is grappling with both conflict-related humanitarian needs and recovery from the devastating March 2025 earthquake. Although Taunggyi itself is not an isolated disaster zone, it has emerged as a key humanitarian hub. Aid agencies regard the city as one of the more accessible staging grounds for relief operations, even as surrounding townships face significant access constraints due to insecurity, checkpoints, travel restrictions and damaged infrastructure. The humanitarian effort combines ASEAN’s two main response mechanisms. The AHA Centre, ASEAN’s di-
saster-response and humanitarian assistance arm, coordinates and facilitates aid delivery through local partners such as the Myanmar Red Cross Society. The ASEAN Monitoring Team, composed of representatives from ASEAN member states, provides oversight by observing aid distributions and monitoring conditions on the ground to help ensure assistance reaches intended beneficiaries. Aside from ASEAN diplomatic representatives, Lazaro will also be joined by Japanese diplomats based in Yangon. The visit underscores Manila’s effort to place humanitarian assistance at the forefront of ASEAN’s Myanmar policy despite continuing divisions within the regional bloc over how to engage the military-led government. “As ASEAN Chair, the Philippines has placed humanitarian assistance among its priorities on Myanmar,” the DFA said. It added that the mission forms part of Lazaro’s regional engagements with Myanmar authorities, ASEAN member states, dialogue partners and humanitarian actors operating in the country.
NTC orders regional offices to support Undas ‘26 public assistance operations By Lorenz S. Marasigan @lorenzmarasigan
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HE National Telecommunications Commission (NTC) has ordered all of its regional offices nationwide to coordinate with government agencies and private sector stakeholders to support public assistance operations during this year’s observance of All Saints’ Day and All Souls’ Day, or Undas, from October 31 to November 2. Under a memorandum issued by the regulator, all NTC regional directors must work with local gov-
ernment units, law enforcement agencies, disaster risk reduction and management offices, emergency response units and other concerned authorities in their areas to support public assistance and safety initiatives. The regional offices were also instructed to monitor Civic Action Groups (CAGs) and Amateur Radio Groups (ARGs) operating within their jurisdictions. This includes keeping track of the groups’ assigned routes, the locations of their personnel and assistance posts, and the sites of
their radio base stations for the duration of their Undas public service operations. The NTC said it will also coordinate closely with telecommunications service providers, as necessary, to resolve reported service concerns and help keep ser v ices reliable, particularly in areas expected to see heavier foot traffic and higher mobile network usage. NTC Commissioner Ella Blanca B. Lopez said inter-agency cooperation and effective communication are important in keeping the
public safe and ensuring timely assistance for Filipinos who will visit cemeteries, memorial parks and other sites to honor their departed loved ones. She likewise reminded the public to heed safety advisories, take note of local emergency numbers, keep mobile phones fully charged and stay in contact with family members. Lopez also urged the public to use available communication channels responsibly, especially when seeking emergency assistance.
Comelec: Protests on pre-shaded ballots in BARMM polls under review By Mary Jade Jadormio
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LLEGATIONS of pre-shaded ballots, voter intimidation and possible voting irregularities in a contested area in the Bangsamoro Administrative Region in Muslim Mindanao (BARMM) are being reviewed by the Commission on Elections (Comelec). The Comelec cited audit logs and voter records as evidence to be examined. Comelec Chairman George Erwin M. Garcia said the poll body had yet to receive a copy of the
full report and was working only with advance information about the allegations raised in an election protest. “We have not yet received a copy of the report; we were only given advance information,” Garcia said. “We want to see when the results were transmitted and, in the audit logs, when the ballots were cast.” T he protest a nt repor ted ly questioned a precinct where voter turnout reached 96 percent, raising concerns about whether the registered voters themselves cast their ballots.
“We are not declaring that it is true, so we want to look into it. We want to review the case so we could see when the results were transmitted,” Garcia said, mostly in Filipino. Garcia said the commission had asked electoral board members identified in the allegations to explain their side, stressing that those named should not be held responsible without a proper examination of the circumstances. The poll body is also looking into whether the alleged ballot shading followed a discernible
pattern that could help establish whether the markings were made by one group or involved different individuals. Garcia said the legal remedy, if the allegations are established and the evidence warrants it, could be the annulment of results in the affected precincts rather than a declaration of failure of elections. “Annulment of election results, hindi failure of election, annulment of election results, it does not affect the other position or positions, it affects only the position subject of the contest,” he said.
SC takes cognizance of Padilla, Go et al’s petition vs Senate impeachment court’s new threshold By Joel R. San Juan @jrsanjuan1573
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HE Supreme Court has given the Senate, acting as impeachment court, a nonextendible period of five days to comment on the petition assailing the constitutionality of its September 23 decision lowering the voting threshold for the conviction of Vice President Sara Duterte. The comment should cover the plea of the petitioners Senators Robin Padilla and Christopher Lawrence “Bong” Go, together with officials of opposition party Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban), plea for the issuance of a temporary restraining
order (TRO) and/or a status quo ante order (SQAO). The SC issued the order in an en banc resolution dated October 14, 2026. Aside from the Senate impeachment court led by Senator-presiding officer Francis “Chiz” Escudero and Senate President Sherwin Gatchalian, other respondents in the petition which are required to submit their respective comments are the House of Representatives led by Speaker Faustino “Bojie” Dy III and its prosecution panel led by Batangas 2nd District Rep. Gerville Luistro. It may be recalled that the SC previously dismissed three similar petitions filed by President
Marcos Jr.'s former Executive Secretary Victor Rodriguez, lawyer Ernesto Francisco Jr. and disbarred lawyer Berteni Causing, on procedural grounds, including lack of legal standing and for being premature. Padilla et al’s petition sought the issuance of a TRO and/or SQAO to immediately enjoin the Senate impeachment from implementing its September 23 ruling as well as its implementing guidelines. Under the new ruling on the voting threshold, the constitutional phrase “all the Members of the Senate” will refer to senator-judges who, at the time of the verdict, are legally and factually capable of participating in the impeachment
proceedings. “The phrase ‘all Members of the Senate’ shall refer to those members who, at the time of the vote, remain legally and factually capable of participating in the proceedings,” Escudero said. The court also identified five circumstances that may justify excluding a senator from the counting base: being detained or legally restrained; being sought by authorities with unknown whereabouts; being physically or medically incapacitated; being beyond the Senate’s coercive processes; or being in another circumstance similarly situated to the specified categories. See “SC,” A16
The mission comes less than a month before ASEAN leaders are expected to meet again in Manila, where Myanmar is likely to remain among the most contentious issues on the agenda. During the ASEAN Summit in May, member states held differing views on how the bloc should engage Myanmar following elections organized by the military government. While some countries favored maintaining practical engagement to facilitate humanitarian assistance and sustain dialogue, others argued that broader engagement should remain linked to progress on ASEAN’s Five-Point Consensus and efforts to reduce violence. The areas covered by the mission also reflect the complexity of Myanmar’s crisis. Parts of Northern Shan and Kayin states remain contested by ethnic armed organizations, resistance forces and government troops, complicating aid delivery and civilian protection efforts. Kayin State, particularly areas near the Thai border, has also drawn international scrutiny for transnational cybercrime opera-
tions, including scam compounds and human-trafficking networks. While the ASEAN mission is not focused on these activities, the overlap of armed conflict, displacement and criminal networks has further complicated the humanitarian landscape. The mission also highlights the risks faced by humanitarian workers in Myanmar. In 2023, ASEAN leaders condemned an attack on a convoy carrying personnel from the AHA Centre and members of the ASEAN Monitoring Team in Shan State, underscoring the security challenges confronting aid operations in conflict-affected areas. Apart from overseeing aid deliveries, Lazaro will also lead the symbolic turnover of a religious building and distribute school kits to prefabricated school facilities built through Philippine contributions following the 2025 earthquake in central Myanmar. The DFA said the mission forms part of the Philippines’ broader effort, as ASEAN Chair, to expand humanitarian assistance while engaging stakeholders in addressing Myanmar’s worsening crisis.
PRC and IFRC provide cash aid to families affected by magnitude 7.8 Mindanao quake By Claudeth Mocon-Ciriaco @claudethmc3
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S PART of its ongoing humanitarian response, the Philippine Red Cross (PRC), with support from the International Federation of Red Cross and Red Crescent Societies (IFRC), provided P7.43 million in cash assistance to families affected by the magnitude 7.8 earthquake that struck Mindanao on June 8, 2026. The distribution is part of PRC ’s i n M a l apat a n , S a r a n gani, 323 families each received P10,000, for a total of P3.23 million, at the Barangay Sapu Masla Covered Court. In the Municipality of Jose Abad Santos, Davao Occidental, 420 families received a total of P4.2 million. In all, 743 families received
P7.43 million to help them meet their essential needs and rebuild their lives. PRC mobilized 47 staff and volunteers to run the distribution in the two areas. “An earthquake may bring down homes, but it cannot bring down the Filipino spirit. Cash assistance gives families the dignity of choice, because they know best what they need to stand up again, whether it’s food, medicine, or materials to rebuild,” said PRC Chairman and CEO Richard J. Gordon, adding that the PRC stays, “When the world no longer watches, we do what must be done.” Gordon added, “The Red Cross was there first, and we will stay until these communities are back on their feet. My deepest thanks to the IFRC and to our staff and volunteers who carry hope to every family. Mabuhay kayo!”
AFP participates in Japan military exercise By Rex Anthony Naval
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HE Armed Forces (AFP) on Tuesday said that its units joined the Japan Self-Defense Forces (JSDF) and United States militar y forces in the opening ceremony of the ongoing Exercise Keen Sword 27 which ends of on October 29. In a statement the AFP said the activity reaffirmed its commitment to international cooperation and regional peace and security. “Scheduled from Oct. 19 to 29 at the Japan Ground SelfDefense Force’s Ishigaki Garrison in Okinawa Prefecture, Japan, the exercise includes personnel from the AFP, alongside forces from Japan, the United States, Australia, Canada, France, Germany, the Netherlands, and New Zealand. The exercise provides a n oppor t u n it y to e xc h a nge knowledge, share best practices, and strengthen professional relationships among participating
nations,” it added. Joint training activities include air and missile defense, facility protection and repair, logistics and resupply, casualty evacuation, and maritime operations. T hrough t hese act iv it ies, t he A FP a i m s to g a i n v a lu able insights into joint pl a nn ing , coord inat ion, infor m at ion sh a r i ng , a nd combi ned m i l it a r y operat ions t hat c a n cont r ibute to de ve lopi ng its c apabi l it ies a nd operat ion a l read iness. The AFP’s participation underscores the importance of cooperation, mutual understanding, and shared responsibility in addressing evolving security challenges. “By strengthening partnerships and interoperability with allied and partner forces, the AFP contributes to collective efforts to promote a peaceful, stable, and secure Indo-Pacific Region,” it added.
Thursday, October 29, 2026
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At the ASEAN MSME Summit 2026, Isidro emphasized Fuse’s ongoing commitment to expanding credit access for millions of MSMEs.
Fuse CEO Tony Isidro highlights how fintech is helping small businesses unlock better financing at the ASEAN MSME Summit
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intech is using technology to make financing more accessible to small businesses, giving entrepreneurs greater opportunities to fund day-to-day operations and business expansion. By improving access to capital, fintech can help drive the growth of micro, small, and medium enterprises (MSMEs), which remain a vital part of the Philippine economy.
Fuse Financing, Inc. President and CEO Tony Isidro shared this view while speaking at the ASEAN MSME Summit 2026, highlighting the potential of micro and small businesses, including sari-sari store owners and other small merchants, to grow with the right financial support. “Just because a business, particularly a micro-entrepreneur, is invisible in a formal business, it doesn’t mean that they’re not credible,” Isidro said. Micro and small enterprises have long struggled to access traditional credit, held back by strict collateral demands and unestablished credit histories. Today, innovative digital financial solutions are bridging this gap, democratizing access to fair and credible loans and operational tools that enable small businesses to scale sustainably. For Fuse Financing, helping more small businesses access financing means recognizing the potential of
entrepreneurs who may have limited experience with traditional lenders. With access to legitimate financial support, these businesses can purchase equipment, replenish inventory, improve operations, manage working capital, and expand their businesses. Digital platforms help make this access more practical by allowing MSMEs to manage financial activities within an ecosystem they already use for their businesses. Through GCash, merchants can accept customer payments, pay suppliers and other merchants, and access other financial and business services. These activities can also provide additional information that may support credit assessment and underwriting. Digital transaction data can give lenders a more current view of a merchant’s business activity, complementing the information available through traditional financial records. Loan eligibility, however,
remains subject to credit evaluation. Isidro explained how the digital ecosystem of GCash can provide lenders with a broader view of merchants and their business activity. “[Digital transactions] are more powerful versus the traditional financial statement, which would be static, whereas their behavior within the GCash ecosystem is more dynamic and can be observed over time. So you get a glimpse of each merchant’s flow of cash, which enables us to have a good footprint, or a good [view] of the capability of each merchant,” he said. Speaking at a panel discussion, Tony Isidro highlighted how digital transactions can help financial service providers better understand the needs of MSMEs. By seeing how merchants use digital financial services in their day-to-day operations, providers can gain insights that will allow them to better respond and support the growth of MSMEs Meanwhile, Isidro also encouraged merchants to continue using GCash for their regular financial activities as they build their digital financial footprint. “Whether it’s accepting payment from your customers, or paying other merchants, paying your suppliers in the GCash app, we encourage merchants to continue using the app for their
Tony Isidro highlights how Fuse is unlocking capital for MSMEs, driving business growth through accessible and flexible credit. financial operations,” he said. As ASEAN’s digital economy grows, fintech can help bring more MSMEs into the formal financial system by expanding access to financial services and financing. For small businesses,
greater access to appropriate financing can provide opportunities to strengthen their operations and pursue growth. For more information, please visit www.gcash.com.
Breaking the debt cycle from predatory lenders: Cebuana entrepreneurs rely on GLoan Negosyo to grow their business
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OR many Filipino entrepreneurs, the biggest
hurdle isn’t the idea, it’s the capital to make it happen. At the Wais Tindera Caravan in Cebu, three women shared how access to financing helped them build businesses and support their families. Through GCash, the Philippines’ leading finance superapp and largest cashless ecosystem, and its lending solutions from Fuse Financing Inc., these entrepreneurs are gaining access to credit that fits how they earn and spend.
supplies for my customers. GLoan helps a lot, especially when you have no money and need capital for your business, and the interest is low too.) GCash is with Dyan everywhere her work takes her. Clients pay her on the spot using GCash, cash-in and cash-out transactions and prepaid load sales also bring in a little extra on the side. And through GSave, Dyan is quietly building an emergency fund, money she can’t accidentally spend the way she might with cash in her pocket.
By using GLoan to buy inventory by the banyera, 42-year-old fish vendor Carmen bypassed traditional banking barriers to expand her trade in Barangay Suba.
A small side hustle funding a big dream
Jill, 28, relies on GLoan Negosyo’s low interest and flexible monthly terms to keep her sari-sari store shelves fully stocked year-round. For 35-year-old nail tech Dyan, switching from informal loans to GLoan Negosyo gave her the financial flexibility to restock supplies and expand her home-service client calls in Cebu City.
A nail salon breaking free from highpressure informal lending
Dyan, 35, does nails for a living in Barangay Suba, Cebu City, often traveling to clients for home service calls. Supplies run out fast in this business, and before GLoan Negosyo, keeping up meant borrowing from informal lenders who expected payment every single day. For someone whose income depends on how many clients she sees, that pressure never lets up. GLoan Negosyo changed the rhythm. She now restocks on her own terms, without the daily scramble to repay. “Dati araw-araw ako nagbabayad sa mga pinagkakautangan ko, kaya mas maganda ‘yong GLoan kasi makakaipon ka pa bago magbayad. ‘Yong inutang ko, pambayad ko ng mga gamit ko sa paglilinis ng nails ng mga customer. Wala akong masasabi sa GLoan, nakakatulong talaga siya, lalo na kapag wala kang pera at gusto mong gamitin pangnegosyo, low interest pa siya,” Dyan said. (Before, I paid daily on my debts, so GLoan is better because I can save up first before paying. What I borrowed went to my nail
Building a sari-sari store from the ground up
In 2024, Jill, 28, and her partner opened a sari-sari store with nothing but GLoan Negosyo to support them. A P15,000 loan gave them the starting capital they needed to open their business. Since then, Jill has relied on GLoan five more times to restock whenever her sales slow down, turning a quick fix into a steady and reliable system for keeping her shelves full. “Ginamit ko ang GLoan para lumago ang negosyo, pinambili ko ng mga paninda ko po tulad ng mga sabon, shampoo, at canned goods. Masaya po ako dahil maliit lang ang interest, hindi mabigat sa bulsa dahil hindi siya araw-araw binabayaran, talagang makakaipon ka para makapagbayad buwan-buwan. Nakatulong po talaga dahil kung wala akong puhunan, ito ‘yong nagagamit ko,” Jill said. (I used GLoan to grow my business, buying stock like soap, shampoo, and canned goods. I’m happy because the interest is small and easy on the pocket since I don’t pay daily, I can really save up to pay monthly. It really helped, because when I have no capital, this is what I use.) Jill’s store also takes GCash payments, a small edge over the cash-only stores nearby. The monthly repayment schedule also offers much-needed breathing room compared to the daily pressure of informal lenders, allowing her business to stay steady even during slow periods.
Carmen, 42, runs a small fish vending business in Barangay Suba—the kind of daily work that keeps a household going. To grow her business, she buys fish by the banyera (tub) and resells them to fellow vendors and fisherfolk, making sure no day goes to waste. When additional capital was needed to keep her fish trade moving, GCash provided the crucial push. Introduced to the app by her cousin, Carmen turned to GLoan to supplement her existing capital, allowing her to purchase more inventory and keep her business afloat without the slow, restrictive processes of traditional financial institutions. “Ibig sabihin, idinagdag ko lang hanggang sa lumaki. Extra na pera para maikot ‘yung tinda. Nakatulong din sa iba at sa mga bata. Dahil may negosyo ka na, nakakatulong ka pa kaysa naman ma-standby ka lang,” Carmen said. (I added the loan to my capital so it could grow—extra money to keep the trade moving. It also helped others and the kids. Because you have a business, you get to help out instead of just staying idle.) Carmen isn’t stopping there. She plans to maintain a good credit standing, explore GCash’s savings features, and use digital bill payments to make running her business and managing her household even easier.
Three stories, one lesson
Dyan, Jill, and Carmen didn’t just get a loan; they got a chance to build something, and the confidence to keep growing. Financing gave them room to start a business, restock a shelf, expand an idea, or simply get through a hard month without losing ground. Their stories point to something bigger happening across the Philippines, especially as more Filipinos turn a small business into their main livelihood with the help of accessible financing. GCash and Fuse Financing want to be part of that story even more, so more entrepreneurs can grow and seize new opportunities to build the future they dream for their families. To know more about GCash and its lending solutions, please visit www.gcash.com.
botim money and GCash strengthen UAE & Philippines remittance corridor by providing a fast, secure, and convenient way for OFWs to transfer funds back home
botim money and GCash Expand UAE–Philippines Remittance Access The partnership enables direct wallet transfers for Filipino communities in the UAE, connecting botim’s reach with the millions of registered GCash users across one of botim money’s largest remittance corridors.
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OTIM money, the UAE’s leading fintech platform, has partnered with GCash, the Philippines’ leading digital finance platform. The partnership expands digital remittance access for Overseas Filipino Workers (OFW) across the UAE–Philippines corridor, one of botim money’s largest remittance markets. The partnership comes at a time of growing financial connectivity between the UAE and the Philippines, including ongoing efforts to strengthen payment infrastructure and cross-border financial collaboration between both markets. Against this backdrop, botim money’s integration with GCash expands direct wallet-to-wallet remittance access for Filipino communities in the UAE. The UAE-Philippines corridor remains one of botim money’s largest remittance markets, driven by regular financial support from Filipino communities in the UAE to families back home. Through its partnership with GCash, botim money connects this demand directly to one of the Philippines’ most widely used digital financial ecosystems. Through this integration, botim money users in the UAE can transfer funds directly into GCash wallets, allowing recipients in the Philippines to use funds for bills, daily essentials, savings, investments and other digital financial services. By connecting botim money’s regulated remittance capabilities with GCash’s embedded ecosystem, this partnership strengthens everyday utility across a high-volume route where trust, consistency and convenience are critical. Hesham Sherif, Head of Remittance Business at botim money, said: “The UAE–Philippines
corridor reflects how communities stay financially connected across borders. For many OFWs in the UAE, remittance is how families stay supported, connected, and financially resilient. Through our partnership with GCash, we are connecting botim money users in the UAE to a trusted financial ecosystem, already embedded in everyday life in the Philippines, strengthening one of our most important corridors’ remittance experiences.” The UAE is home to nearly 700,000 Filipinos, making it one of the world’s largest overseas Filipino communities and reinforcing the economic significance of this corridor. The partnership demonstrates how regulated financial infrastructure can strengthen real-world financial participation in markets where cross-border support is both frequent and essential. Jonathan Que, General Manager of GCash International, added: “Through our partnership with botim money, we are expanding how the Filipino community in the UAE can support families back home through a platform already integrated into everyday financial life. By enabling direct wallet access, we are making remittances more seamless, more relevant and more connected to the broader financial needs of the Filipino households.” The partnership reflects a shared commitment to strengthen digital financial access across the markets users rely on most. As botim money continues to scale priority corridors including the Philippines, India, Pakistan and Egypt, its collaboration with GCash connects users to a trusted financial ecosystem in the Philippines, making cross-border transactions more accessible.
A14 Thursday, October 29, 2026
Marcos calls on LGUs to tap law students, legal groups to expand legal aid for PDLs By Samuel P. Medenilla @sam_medenilla
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VEN law students who have yet to pass the bar exams can volunteer in the government’s free legal aid programs, which have already helped free over 36,000 persons deprived of liberty (PDL) and decongest the country’s prisons, according to President Ferdinand Marcos Jr. Even law students, who have yet to pass the bar exams, can volunteer in the government’s free legal aid programs, which
have already helped set free over 36,000 persons deprived of liberty (PDL) and decongest the country’s prisons, according to
President Ferdinand Marcos Jr. The Chief Executive made the statement during the celebration of the 32nd National Correctional Consciousness Week at the New Bilibid Prison (NBP) Reservation in Muntinlupa City last Wednesday. He called on local government units (LGU) to tap law students and law organizations to expand the government’s Katarungan (Justice) Caravan and Bilis Laya (Fast Release) programs. The Katarungan Caravan program provides legal service to PDLs, while Bilis Laya program involves volunteer lawyers reviewing the documents and records of PDLs to hasten the evaluation if they are already qualified to be freed. “I encourage local governments to collaborate with law schools and legal organizations to expand
the provision of free legal aid. Qualified law students may also participate, under the guidance of lawyers,” the President said in Filipino. He said both programs and other reforms implemented by the Department of Justice has helped free 36,000 PDLs in the last four years. Among them, he said, were the 43 qualified PDLs, who got their Certificates of Discharge from Prison, when First Lady Louise “Liza” A. Marcos, who is a lawyer by profession, and 200 other attorneys visited the NBP on 20 October 2026. The First Lady and the other lawyers provide legal service 857 PDLs. Despite the said efforts to help decongest prisons, Marcos assured that the release of each prisoner will
After BIR suspension of Seal Badge, other agencies must also help small entrepreneurs By Butch Fernandez @butchfBM
& Jovee Marie N. Dela Cruz @joveemarie
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ORE government agencies must do their part in easing compliance requirements for small entrepreneurs and helping them grow their businesses, according to Senate Minority Leader Alan Peter Cayetano. He made the call following the Bureau of Internal Revenue’s (BIR) suspension of the mandatory online display of its Registration Seal Badge. “A business does not have to be big to matter. If it keeps a child in school or a family out of debt, it is doing something worthwhile,” Cayetano said in a statement posted on October 27, 2026. “We should help, not hamper, these entrepreneurs. Our goal is to help them grow within the formal economy,” he added. Cayetano welcomed the BIR’s decision to suspend the requirement for online sellers and content creators until further notice while it reviews privacy and technical concerns. Senator Bam Aquino, chairman of the Senate commerce panel, had earlier prodded BIR to either suspend implementation of the Seal Badge requirement or at least waive penalties to give small enterprises some relief during the transition. To Cayetano, however, more can be done for the many small enterprises, including those in the informal sector, who help keep the country going. He called for better coordination among government agencies to simplify government proce-
dures and reduce the time entrepreneurs spend complying with requirements. He added that government agencies must create an environment where small businesses can operate with confidence and pursue opportunities for growth. “Some small sellers want only a dependable livelihood. Others hope to expand and employ people. Both deserve a fair chance. Our people are already making the effort. Let us help that effort bear fruit,” Cayetano said. “This requires a whole-of-government effort. Better coordination can save people time while protecting consumers, personal information, and public revenues,” he added. Cayetano also thanked online sellers, content creators, and other stakeholders who raised concerns about the policy, including Sen. Pia Cayetano. “This is how we should work together,” he said. “The lesson is simple: listen to the people who deal with these requirements every day. Their experience can help us get policies right. Seeing their concerns addressed also builds trust.” “With sound policies and institutions they can rely on, that resourcefulness can help them build a better future,” he added.
Congressional investigation
THE Makabayan has filed a resolution seeking a congressional investigation into the BIR implementation and subsequent suspension of its Registration Seal Badge requirement for online sellers, service providers and content creators, citing concerns over privacy, taxpayer rights and regula-
tory uncertainty. House Resolution No. 1565, introduced by K abataan Rep. Renee Co with Gabriela Women’s Party Rep. Sarah Jane I. Elago and ACT Teachers Party-list Rep. Antonio L. Tinio, seeks an inquiry in aid of legislation into the legal basis, implementation and policy consistency of the BIR requirement. The resolution was filed a day after the BIR suspended the mandatory display of the Registration Seal Badge on October 26, making compliance optional until further notice. The agency also said no penalties would be imposed solely for failure to display the badge during the suspension period. “ The BIR implemented this policy without prior consultation or proper consideration for every Filipino engaged in online work,” Co said. “That is why it is even more concerning that after more than 50,000 registrations, the BIR suddenly withdrew the requirement. Suspending it is not enough; there must still be an investigation,” she added. Under Revenue Memorandum Circular No. 38-2026, the BIR introduced the Registration Seal Badge as an alternative to the mandatory public display of the full Certificate of Registration or its electronic version. The measure was presented as a way to protect the privacy and personal information of online businesses and workers. The BIR subsequently issued Revenue Memorandum Circulars Nos. 64-2026 and 99-2026 to supplement the policy, with the latter extending the deadline for displaying the badge to October
31, 2026. According to the resolution, the agency reported that more than 52,700 Certificates of Registration with Registration Seal Badges had been secured as of October 14. The lawmakers said the abrupt shift from a mandatory requirement with a fixed deadline to an indefinite suspension had caused confusion among covered taxpayers, particularly those who had already obtained and displayed their badges in good faith. They also argued that the suspension did not resolve questions surrounding data privacy, regulatory consistency and the lack of meaningful consultation with affected sectors. The resolution cited constitutional protections for due process and privacy, as well as the Data Privacy Act of 2012, or Republic Act No. 10173. The proposed inquiry would examine the legal basis and rationale for the BIR circulars, the consistency of the agency’s policy changes, and the extent of consultations with online sellers, service providers, content creators and digital workers’ organizations. It also noted that many participants in the digital economy are informal workers with limited resources to navigate complex and changing regulations. The resolution calls for copies to be furnished to the BIR, the National Privacy Commission, the Department of Trade and Industry and other relevant agencies for appropriate action. Lawmakers said the congressional review aims to help ensure that regulations governing online work are clear, fair and responsive to the needs of digital workers.
Comelec to pilot Viber transmission of Batanes election results By Mary Jade Jadormio
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HE Commission on Elections (Comelec) will pilot Viber transmission of election results in Batanes to speed up canvassing during the special elections. With this measure, the proclamation of the winning candidate can be conducted on election night, according to Comelec Chairman
George Erwin M. Garcia. The proposed system would allow municipal boards of canvassers to receive results digitally before physical election documents arrive, subject to the agreement of candidates, their legal counsels and other parties. “Why not use modern technology?” Garcia said, arguing that messaging applications could help address logistical problems during
the polls. “By using this method, we can speed up the results and proclaim the winner without compromising the integrity of the election.” According to the poll body chief, the rough seas pose a challenge to transporting election records from remote island communities, prompting the agency to utilize technology. Under the proposal, municipal
boards of canvassers could transmit results through Viber to the provincial board, allowing canvassing to begin without waiting for physical copies. “Results can be transmitted through Viber, with the consent of the parties, candidates and lawyers,” the poll body chief said. Original election returns and See “Viber,” A16
still go through stringent reviews. “Every release must be carried out with the utmost care. Granting a second chance should never come at the expense of public safety,” he said. Under his administration, Marcos said the government will continue to push for reforms to improve the conditions of PDLs by expanding and enhancing the correctional facilities, where they are detained. Among the said facilities covered by the said initiative is the Palawan Mega Ecozone; Iwahig Prison and Penal Farm; Sablayan Mega Ecozone in Occidental Mindoro; Bureau of Corrections (BuCor) Global City in Muntinlupa City; and the Central Luzon Regional Prison Facility in Palayan City, Nueva Ecija--the first ever cor-
rectional system to be built in the last 50 years. “It is difficult to turn over a new leaf when our prisons are overcrowded and in poor condition,” Marcos said in Filipino. “That is why we are also pushing for the expansion and improvement of our facilities, in order to provide a safer and better environment for rehabilitation,” he added. The President said concerned government agencies will also continue to provide education, skills training, cash aid, livelihood kits, and employment opportunities to PDL to help return to society. He also assured that there will be no more special treatment among PDLs, use of cellphones, illegal drug activities, which have plagued the prisons in previous administrations.
MWPV strengthens El Niño resilience in North Luzon By Jonathan L. Mayuga @jonlmayuga
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N preparation for “a very strong El Nino,” Manila Water Philippine Ventures (MWPV), the Non-East Zone subsidiary of Manila Water, continues to strengthen water supply resilience in North Luzon through proactive investments and operational measures undertaken by its operating units, the Calasiao Water in Pangasinan and Metro Ilagan Water in Isabela. In Pangasinan, Calasiao Water has reinforced its readiness to sustain reliable water service through a comprehensive service continuity plan aimed at securing water availability and minimizing service disruptions during the El Niño period. As part of this program, the operating unit has implemented non-revenue water recovery initiatives, network improvement projects, deep well performance monitoring and upgrading, as well as preventive maintenance of critical facilities and equipment to enhance overall system reliability. To further ensure a dependable water supply, Calasiao Water is currently exploring and developing additional water sources while optimizing reservoir utilization, network reliability, and supplydemand-based operations. The operating unit has also readied a mobile water tanker for immediate deployment when needed and is operating in-line boosters to improve system performance. These efforts will be further strengthened by the scheduled commissioning of new deep wells in 2027. Meanwhile, in Isabela, Metro Ilagan Water has proactively enhanced its water supply capability through the drilling and commissioning of a new deep well to serve as a reliable water source and help stabilize its bulk water supply system amid the ongoing impacts of El Niño. Metro Ilagan Water is currently constructing a 13-million-literper-day (MLD) water treatment plant in Ilagan City, Isabela, in partnership with the City of Ilagan Water District (CIWD). Prior to the project’s completion, Metro Ilagan Water relied on two operational deep wells, each with a maximum production capacity of 5 MLD. While these existing facilities remain capable of meeting the municipality’s current demand of
approximately 6.5 MLD, the Company took proactive steps to further strengthen supply reliability in anticipation of the projected impacts of El Niño. To enhance system resilience, Metro Ilagan Water developed and commissioned an additional deepwells ahead of the anticipated onset of El Niño. The new water source provides added operational flexibility and strengthens supply security, helping ensure uninterrupted service during periods of increased demand, equipment maintenance activities, or reduced availability of surface water sources. The project was commissioned in May this year and is now fully operational. This investment forms part of Metro Ilagan Water’s continuing efforts to build climate-resilient infrastructure and safeguard water security for the communities it serves Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) has identified both provinces as vulnerable to dry conditions and dry spells through the remainder of 2026, with the risk of drought persisting into the first quarter of 2027, compelling government to prepare for the worst impacts of the so-called dry season. “Across our service areas, we recognize that climate change and extreme weather events such as El Niño pose increasing challenges to water security. Through continuous investments in resilient infrastructure, water source development, system optimization, and proactive operational measures, Manila Water Philippine Ventures and its operating units remain committed to ensuring reliable and sustainable water services for the communities we serve,” said Francisco Loresco, General Manager of MWPV North Luzon operations. Beyond strengthening supply sources, both Calasiao Water and Metro Ilagan Water continue to invest in infrastructure improvements, operational efficiency, and preparedness measures designed to enhance system resilience and responsiveness during periods of water stress. These initiatives form part of Manila Water’s broader commitment to safeguarding water security and ensuring service continuity amid evolving climate conditions.
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Angara lauds Lakan Dula HS zero-incident safety record, multilayer security measures By Claudeth Mocon-Ciriaco
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@claudethmc3
LARGE urban campus, but can it maintain a zero-incident safety record?
Dula High School is a prime example of a model school and successful collaboration, with the local government unit (LGU), Philippine National Police (PNP), alumni association, and parents providing assistance to the school. “Itong Lakan Dula High School ay isang ehemplo ng modelong school at sa collaboration. Ang LGU may tinulong, ang alumni association may tinulong din pati sa metal detector, ang kapulisan. Kaya nagpapasalamat tayo sa PNP, LGU, alumni association at lahat ng partners kasi napakaraming tumulong dito sa Lakan Dula High School,” Angara said. According to Angara, while security hardware such as body scanners, metal detectors, and CCTV
cameras are vital, the school’s true safety comes from its people, including observant teachers, active parents, and security guards and watchmen who personally know the learners. Angara also lauded the school for creating open communication channels where learners feel safe and empowered to report concerns without fear of retaliation. During his walkthrough of the campus, one of the oldest public schools in Manila serving 4,750 learners, Angara reviewed its multi-layered safety measures. He began by signing the school’s Commitment Wall before observing entry-point security procedures and visitor verification protocols.
Education Secretary Juan Edgardo “Sonny” Angara himself was eager to know how Lakan Dula High School (HS) in Tondo, Manila is implementing its security protocols and learner protection programs. Lakan Dula HSHigh serves as a model school for the implementation of the Guidelines on Ensuring a Safe and Mo-
tivating Learning Environment (ESMLE) under DepEd Order No. 006, s. 2026. On Wednesday, Angara conducted an inspection at Lakan Dula HS as part of the Department of Education’s (DepEd) ongoing school audits to enhance safety measures across all schools nationwide. Angara emphasized that Lakan
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other documents, including the Statement of Votes and Certificate of Canvass, would still be physically delivered for subsequent verification. “From the precinct to the municipality, the election records will still be physically transported,” the official said, clarifying that the proposed digital transmission would cover the municipalto-provincial stage. Rough seas could disrupt travel in island municipalities such as Itbayat and Sabtang, where boats may no longer be able to operate safely by midafternoon. “By 2 p.m., sea vessels may no longer be able to travel, especially in Itbayat and Sabtang, because the waves become too high,” Garcia told reporters. Manual voting and counting could also delay the movement of election records, particularly if voters are still in line at closing time and precinct-level counting runs late. Comelec plans to discuss the proposed innovation with all candidates and their representatives before proceeding, while election supplies and equipment are expected to be deployed by Nov. 1.
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The petitioners, however, asked the Court to declare that 16 senators or two-thirds all the 24 incumbent senators are required to convict the Vice President in line with Article XI, Section 3(6) of the Constitution. In the event that the Senate impeachment court decides to convict Duterte under the new threshold before the petition is resolved, the petitioners asked the Court to declare such judgment null and void ab initio (from the beginning). They also asked the Court to enjoin the Senate impeachment from disqualifying Duterte and declaring her office vacant. The petitioners argued that the Article XI, Section 3(6) of the Constitution cannot be amended by the impeachment court through an appeal by a senator-judge. They also noted that the appeal was made only on September 8 or 64 days after the prosecution started its presentation of evidence against Duterte. They added that the reversal of the July 6, 2026 ruling issued by impeachment court Presiding Officer Escudero requiring 16 votes to convict Duterte violates due process and equal protection clause.
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N a major step toward enhanced security and operational efficiency, the Unified Persons with Disabilities Identification System (UPWDIS) will function as a 24/7 verification tool, allowing merchants, establishments, and offices to instantly verify the authenticity of persons with disability identification cards. The centralized 24/7 platform is designed to eliminate processing delays, curb fraud and counterfeits, and provide instant authentication for stakeholders, while fully empowering individuals with apparent and non-apparent disabilities to access their benefits and privileges without discrimination. With the new system, the unified digital ID also incorporates a
unique QR code and alphanumeric number, enabling merchants and offices to instantly verify ID authenticity by scanning and checking them against the national database at https://verify.alaga. ph/. The system will automatically detect and decode the QR code upon a successful scan, instantly displaying the holder’s name and ID reference for quick review and verification. The National Council on Disability Affairs (NCDA) also emphasized that UPWDIS—which will be jointly administered by the Council and the Department of Social Welfare and Development (DSWD)—will serve as a tool to crack down on the rampant use of fake PWD identification cards
and fraudulent claims, as highlighted in the Senate inquiry in December 2024. As of October 2026, NCDA has already trained approximately 80% of LGUs nationwide, where local personnel were oriented on encoding, updating, and managing localized registry records in the central system. They are also in the registration and data integration phase to migrate and synchronize local data bases with the national portal. The Council has also recently called on LGUs to expeditiously encode and update their local registry files into the unified system to ensure seamless national coverage and eliminate fraud across all jurisdictions.
DepEd rolls out ARAL Mathematics Program to address numeracy gaps nationwide
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HE Department of Education (DepEd) is intensifying its intervention programs to help students struggling with mathematics. Recent assessments have exposed a critical gap in numeracy skills across multiple grade levels, prompting the mobilization of teachers, tutors, and parents nationwide to strengthen mathematics learning recovery through the Academic Recovery and Accessible Learning (ARAL) Mathematics Program. Under DepEd Memorandum No. 060, s. 2026, ARAL Mathematics is being implemented in public elementary and secondary schools for Grade 1 through 10 beginning School Year 2026-2027. The program uses assessment results to identify learners requiring support and provides structured, practice-based, and self-paced tutoring to help them progress toward grade-level mathematics proficiency. Education Secretary Juan Edgardo “Sonny” Angara emphasized that mathematics learning recovery requires identifying each learner’s difficulties and providing appropriate support at their own pace. “Hindi pare-pareho ang hirap ng mga bata sa Mathematics. May nahihirapan pa sa basic counting, mayroon sa arithmetic operations, at mayroon din sa mas komplikadong concepts. Kaya mahalagang matukoy natin kung saan sila nangangailangan ng tulong at bigyan sila ng pagkakataong matuto sa sarili nilang bilis, nang may sapat na gabay at
suporta,” Angara said. To support the implementation, DepEd conducted a nationwide online seminar on October 19 to orient teachers, tutors, school heads, and ARAL focal persons on implementation guidelines, tutoring sessions, and learning materials. The webinar drew more than 26,000 live viewers nationwide. Learners are identified through the Rapid Mathematics Assessment (RMA), with priority given to those assessed as “Not Proficient” or “Low Proficient.” Schools may group learners according to their identified needs and adjust interventions as their skills improve. Based on the beginning-ofschool-year assessment results, more than 11 million learners nationwide were identified as requiring additional support in mathematics, underscoring the importance of targeted intervention in numeracy and coordinated support from schools and families. A R A L Mat hematics uses structured worksheets that build m at hem at ic a l sk i l l s t hrough manageable, progressively challenging activities. Sessions are designed for small groups, with a recommended tutor-to-learner ratio of 1:10 or a maximum of 1:15, ensuring more focused and personalized support. Tutors serve as facilitators, guiding learners through questions, hints, and feedback rather than relying on conventional lectures. The program also uses Individual Mathematics Intervention Plans to monitor learner progress and ad-
just support according to identified learning needs. Schools may conduct AR AL Mathematics through face-toface, online, or blended sessions, depending on their resources and local conditions. Sessions may also be scheduled during class hours, before or after classes, or through other arrangements approved at the division level, subject to the guidelines. DepEd is also encouraging schools to engage parents in monitoring learner progress and reinforcing positive learning habits at home. Through school orientations and regular communication, families can better understand the support their children need and work with teachers and tutors throughout the intervention. DepEd said it will continue suppor ting schools and f ield offices in implementing AR AL Mathematics through learner assessment, appropriate learning resources, tutor guidance, and progress monitoring, consistent with President Ferdinand R. Marcos Jr.’s directive to strengthen foundational learning. “Mahalaga na hindi mawalan ng kumpiyansa ang mga batang nahihirapan sa Math. Sa tulong ng teachers, tutors, at parents, mabibigyan natin sila ng mas maraming pagkakataong magsanay, magtanong, at matutong hindi matakot sa mahihirap na tanong. Bawat maliit na improvement ay mahalagang hakbang tungo sa mas matibay na foundation sa pagkatuto,” Angara stressed. Claudeth Mocon-Ciriaco
Angara also evaluated psychosocial support ser vices at the campus Care Center and met learner responders at the Batang Emergency Response Team station. He also reviewed the school’s security monitoring center and joined parents, guardians and barangay partners for a Kaagapay Session focusing on learner discipline, anti-bullying measures, and digital safety. “We welcome ang tulong ng mga mga magulang. Iyan ang pakay ng Kaagapay Program na gusto nating palakasin sa buong bansa. Ayon din iyan sa panawagan ni Pangulong Bongbong Marcos na ang lahat ng sektor maging aktibo sa security ng
mga paaralan, sa mental health at sa tamang paggamit ng internet ng mga bata,” Angara said. DepEd is requesting P8.18 billion in additional funds from Congress under its 2027 proposed budget to equip more schools with essential safety features similar to those at Lakan Dula High School, such as security guards, metal detectors, CCTV networks and perimeter fencing. Lakan Dula HS’s safety initiatives include regular emergency preparedness drills, joint safety training with local responders, weather advisory systems, structured arrival and dismissal procedures, and close coordination with local law enforcement.
Philippines mining industry can learn from Indonesia’s lesson in nickel downstreaming By Jonathan L. Mayuga @jonlmayuga
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HE Philippines can learn from Indonesia’s experience in developing its own nickel downstreaming and become a key player in the global critical minerals supply chain, Septian Hario Seto, a member of Indonesia’s National Economic Council, said. Indonesia’s experience shows that an export ban alone does not build a downstream industry, and the Philippines can draw lessons from its policy mix of industrial estates, incentives and production control, Seto said. Speaking during the Mining Philippines 2026 International Conference and Exhibition in Pasay City, Seto said Indonesia’s nickel exports grew from $1.2 billion in 2014 to $34 -35 billion in 2025 after it pursued valueadded processing. “Many people think that the successful factor is because of export ban. This is totally incorrect,” he said, noting that without domestic processing investment, a ban creates “value destruction” because no one buys domestic ore. Indonesia banned exports in 2014, reopened them in 20172020 with quotas for firms committed to building smelters after miners protested, and reimposed the ban in 2020 after securing investments. Two instruments made it work, he said. An industrial estate model located close to mines, and tax holidays tied to investment size. The approach was later replicated for aluminum and batteries. As of August 2026, Indonesia’s nickel exports reached $26 billion, up 17% year-on-year, but contained nickel volume fell 4%. Aluminum exports rose 40% to $4.2 billion and battery materials to $1.8 billion. The volume drop was intentional through production quota control under RKAB. Since Indonesia produces two-thirds of global nickel, the focus is now on value, not volume. Controlling quotas lifted prices and narrowed d iscounts — NPI d iscount versus LME narrowed from 30% in 2024 to 20% this year,
and MHP from 21% to 10%, he said. For the Philippines, he said the lesson is to build an ecosystem, not just smelters. Indonesia expanded from nickel to aluminum — capacity from 300,000 tons three years ago to 1.9 million tons now, heading to 5.2 million tons next year — and to battery materials. Since 2022, Indonesia persuaded cathode and anode investors to come, including LFP cathode described as one of the biggest outside China. It now has cell plants — Hyundai LG at 15 GWh and CNPL-IDC at 7 GWh — and anode capacity built since 2023 that is bigger than China and Japan combined, exporting to the US, Europe and South Korea. It even refines lithium hydroxide and carbonate worth $600 million despite having no lithium resources, importing raw material from Australia and Zimbabwe. The two countries are also linked on supply. Indonesia imported 13.5 million tons of nickel ore from the Philippines as of August, up 60% from 8 million last year, out of total imports of 14 million tons. The Philippine ore at 1.3% grade is needed for blending in Weda Bay and provides a buffer for smelters. But he acknowledged growing concern among Indonesian miners over imports while domestic production is restricted. Philippine ore prices, previously higher than domestic Sulawesi ore, have now converged after formula changes. “If LME price collapses, the first victim is actually the domestic nickel ore price in Indonesia. Definitely it will go down. And it will drag down as well the nickel ore price from Philippines,” he said, calling for G2G talks between the world’s No. 1 and No. 2 nickel producers to maintain a healthy price. He said Indonesia will issue a “very conservative” RK AB for next year at 70-80% of this year’s level in January-March, and only add more in June-July if demand is strong — a disciplined quota management he said is critical to prevent a price collapse that would hurt both countries.
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The World BusinessMirror
Thursday, October 29, 2026 A17
US consumer confidence recovers as gas prices ease
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By Matt Ott | The Associated Press
ASHINGTON—American confidence in the economy rebounded somewhat in October as gas prices fell modestly, though it remains much more expensive to fill up a tank than last year at this time. The Conference Board said Tuesday that its consumer confidence index rose 7.5 points to 91.7 in October from 84.2 last month. September’s reading was the lowest in the board’s survey since April 2014 and below the lowest level reached during the pandemic.
Yet Americans remain flustered by the economy after five years of elevated inflation, potentially posing a risk to President Donald Trump and Republicans in the midterm elections next Tuesday. Respondents’ views of their pres-
ent situation rose by 6.9 points to 72.6 while their short-term outlook climbed 8.6 points to 120.4. “The recovery was in line with retail gasoline prices easing from September to October,” said Fergus McCormick, a senior economist for The Conference Board. “Yet, despite the increase in October, consumer confidence remained on the long-term downward trend that’s persisted over the past few years.” According to the auto club AAA, the average price for a gallon of regular gas in the U.S. was $4.27 Tuesday, down from $4.48 a month ago. Last year at this time, a gallon of regular in the U.S. averaged $3.05. Write-in responses to the board’s survey, collected between October 1-21, were still broadly pessimistic this month, with frequent references
to the high cost of energy, goods and services. Trump has continued to blame high prices on his predecessor, Democrat Joe Biden, yet inflation has risen since Trump’s inauguration last year. Earlier this month, the government reported that consumer inflation accelerated in September as goods and services became more expensive, evidence that rising prices remain an economic challenge just seven days before midterm elections that have focused heavily on affordability. The consumer price index rose 3.7 percent in September compared with a year ago, according to the Labor Department, up from 3.4 percent in August. On a monthly basis, costs jumped 0.6 percent from August to September, the biggest gain in five months. Six weeks ago, the Federal Reserve
raised its benchmark interest rate for the first time since 2023 in an effort to tamp down that stubbornly high inflation, and the central bank signaled another rate hike could occur later this year, though few expect it at this week’s Fed meeting. The quarter-point increase lifted the Fed’s key rate to about 3.9 percent and, over time, could result in higher borrowing costs for mortgages, auto loans and credit cards. The most recent measure of the Federal Reserve’s preferred inflation gauge — the personal consumption expenditures price index, or PCE — rose 3.4 percent in August from a year earlier. That’s slightly better than July’s 3.7 percent year-over-year increase but up from 2.8 percent before the Iran war began on February 28. It was 2.5 percent when Trump was inaugurated
in January 2025. The government issues its September PCE data Thursday. The view of the current labor market improved from September, though the employment landscape has not. The percentage of respondents that said jobs were “plentiful” rose from 24.3 percent in September, to 26.7 percent this month. The percentage of those saying jobs were “hard to get” remained at 21.4 percent. US employers added a disappointing 29,000 jobs last month and the unemployment rate ticked up to 4.2 percent. Economists had expected September payrolls to come in around 90,000. Hiring dropped from a downwardly revised 133,000 in August and Labor Department revisions also shaved 60,000 jobs off combined July and August payrolls.
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The World BusinessMirror
Weaker euro boosts exports from European companies By Olivia Levieux
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Bloomberg News
HE dollar’s rebound is good news for shares in European exporters, just as companies enter the busiest stretch of the third-quarter reporting season. The euro has fallen more than 5 percent against the greenback this year and roughly 2 percent in the past month alone, a boon for firms that sell to customers outside Europe. It’s a reversal of the headwind that held back profits for these stocks earlier in 2026, and some strategists say it has yet to be fully factored in by the market. A UBS Group AG basket of stocks exposed to US sales, including the likes of Novo Nordisk A/S, Diageo Plc, GSK Plc and Rentokil Initial Plc, has rallied almost 7 percent this month, the most since 2022. Companies representing nearly 40 percent of the Stoxx 600’s market capitalization are reporting this week and next. A weaker euro is a handy boost for an index whose members generate roughly half their revenue overseas. Strategists at HSBC Holdings Plc estimate that a 5 percent depreciation in European currencies against the dollar can add about 3.1 percentage points to regional earnings growth. But even a relatively small currency impact can make a difference in a market buffeted by negative news. With sentiment on edge, investors are looking to earnings for signs of stability, according to Michael Field, Morningstar’s chief equity strategist. A weaker euro may help by “turning some meets into beats,” Field said. “There is an awareness of how much it’s bringing to the table, but I still don’t think it’s fully in the price.” The benefit may be greatest where earnings expectations are subdued. Field cited consumer companies including Unilever Plc and Nestle SA, where weaker demand and higher costs have weighed on the outlook. “That ex-
tra bump from FX could actually make a huge difference,” he said. European healthcare is another potential beneficiary, generating roughly 40 percent of its revenue in the US, the highest among Stoxx 600 sectors. Oddo BHF estimates the recent dollar move could add 2.5 percent-3.5 percent to Novo Nordisk’s earnings per share and 2 percent-3 percent at Sanofi SA. Both report within the next two weeks. Currency effects also mean fund managers can find stock opportunities in countries where broader economic conditions look less appealing. “I may have a cautious view of the UK and European economies over the next few years,” said Dan Hanbury, a global equity portfolio manager at Ninety One. “However, that is very different to being cautious on their stock markets given how much of the revenue is made overseas.” For all that, what benefits Europe’s international earners isn’t necessarily good for the market as a whole. European equities have historically tended to outperform other regions when the euro strengthens, according to Jitania Kandhari, deputy chief investment officer at Morgan Stanley Investment Management. That partly reflects the region’s large weighting toward domestically exposed financials, which benefit from the stronger purchasing power, economic activity and credit growth associated with a stronger euro. “You really need euro strength for the aggregate MSCI Europe to outperform on a relative basis,” Kandhari said. A sustained decline would make her more cautious on parts of southern Europe, where domestic fi-
FLAGS with the Novo Nordisk A/S logo in Bagsvaerd, Denmark. PHOTOGRAPHER: MADS CLAUS RASMUSSEN/RITZAU SCANPIX/AFP/GETTY IMAGES/BLOOMBERG
nancials carry significant weight.
Hedging book AT the individual-stock level, the picture gets more complicated still. Adidas AG and Puma SE have dollar-denominated Asian sourcing meaning sustained greenback strength can ultimately hurt margins, while sophisticated hedging can delay or mute the benefit for exporters. Hanbury points to Rolls-Royce Holdings Plc, among his firm’s top picks, where a large hedge book covers multi-year airline servicing contracts. “The problem is timing and hedging and it’s never as exact as you’d like it to be,” Hanbury said. “Hedging creates a lag in the numbers coming through.” For longer-term investors, that complexity makes currency another risk to manage rather than the basis for an investment thesis. Rathbones fund manager David Coombs said he is willing to tolerate short-term foreign-exchange volatility in globally diversified businesses such as L’Oreal SA, but becomes more cautious when several holdings leave a portfolio exposed to the same currency. “The currency is the last decision in the chain,” Coombs said, adding that it’s difficult to forecast its impact on overall profits and returns.
Euro outlook THE euro’s continued weakness potentially sets up a further earnings boost.
Elias Haddad, global head of markets strategy at Brown Brothers Harriman, sees scope for the currency to weaken toward $1.10 by year-end as US economic outperformance and interest-rate differentials continue to favor the dollar. The reason behind any further weakness still matters. A euro falling because of strong US growth has different implications for European assets than a decline caused by investors demanding a higher risk premium at home. French fiscal stress can boost exporters’ translated earnings through a weaker currency while simultaneously pushing up sovereign spreads, financing costs and the price of dollar-denominated imports. The current French episode may stop short of that more damaging scenario. Morgan Stanley’s Kandhari sees France’s fiscal turmoil as a repricing rather than another euro-zone crisis. The country’s fiscal problems are well understood and the European Central Bank now has significantly stronger tools to manage contagion, she said. The overall setup could leave European equities in something of a sweet spot: enough currency weakness to create upside earnings surprises, without overwhelming the domestic forces supporting the broader market. The result could be a foreign exchange boost that reaches well beyond the exporters benefiting from it directly.
At least 30 dead in crash between 2 trains in Spain By Joseph Wilson The Associated Press
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ARCELONA, Spain—A high-speed train slammed into the rear of another train that had stopped, derailing two cars and killing at least 30 people on Wednesday in central Spain, according to local media. Spanish authorities initially reported 10 deaths, but Esther Padilla, spokeswoman for the Castilla La Mancha region, added “that number will surely rise.” Spanish state-owned news agency EFE and other media reported later that the death toll had risen to at least 30. It was the second major train accident in Spain this year. Spain’s rail system operator ADIF said the crash occurred Wednesday morning in the province of Toledo. Rail service was suspended between Madrid, Ciudad Real and Andalusia. Padilla told state broadcaster TVE that the accident was between two high-speed trains carrying hundreds of passengers and heading in the same direction from the capital Madrid to Seville in southwestern Spain. One ran into the tail of the other that had stopped, knocking two of its cars off the track. She said the cause of the crash was not known. The crash, which occurred in a flat stretch surrounded by fields in between the towns of Urda and Los Yébenes, left one car shredded into bits of metal and other material, scattering debris down a gravel slope. Spanish Health Minister Mónica García
www.businessmirror.com.ph
Health damages from climate change are increasing faster By Leslie Kaufman Bloomberg News
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HE negative health impacts of climate change are not only increasing but doing so at a faster pace than a decade ago, according to a major global assessment released Wednesday. The 10th annual Lancet Countdow n repor t—by an inter national collaboration of scientists that tracks the relationship between global warming and human health—compares the decade since the signing of the Paris climate agreement with the decade before. It finds that several major health threats, including deadly heat and drought, increased more rapidly after the accord, even as countries ramped up investments in clean energy and protecting people from climate hazards. The report comes after a summer when heat waves in Europe k i l led tens of thousands and just ahead of the United Nations COP31 climate summit in Turkey. Annual heat-related deaths were nearly 36% higher in the period 2016 through 2023 than from 2006 through 2015, the analysis finds. In 2023 alone, heat was linked to an estimated 710,000 deaths worldwide. Heat exposure is also trimming the gross domestic product of countries around the globe, with Southeast Asia and Africa the worst-affected regions. For the first time, the Countdown calculated how many heatrelated deaths could be attributed to human-caused climate change. The researchers estimate warming was responsible for more than 70 percent of those deaths in 2023 and almost 3 million from 2016 through 2023. In addition to heat exposure, water-related risks are growing. Nearly 52% of the world’s land experienced extreme drought for at least one month in 2025, the second-highest level on record. A satellite analysis found longterm shifts toward wetter or drier
Malaysia seizes servers with advanced AI chips suspected of violating export controls The Associated Press
K EMERGENCY services attend to the victims at the scene of a collision between two trains in Urda, Spain, on Wednesday, October 28, 2026. JUANMA JIMÉNEZ/EUROPA PRESS VIA AP
told TVE that emergency workers were focusing on rescuing survivors and bodies from the two most damaged train cars. She said that the injured are being sent to different hospitals in the area. “It was a high-speed impact, so we are expecting this to be a tragedy,” García said. The accident involved a train from Spain’s state-owned RENFE company and the private rail company IRYO. It appeared the RENFE train rammed the IRYO train, Spanish media reported. Trains from those two companies were also involved in a deadly crash in January. Padilla said that 397 passengers were in the RENFE train and 147 passengers in
the IRYO train. IRYO, an Italian-owned company, said in a statement that it has “activated its security protocols and is closely working with authorities.” The mayor of the nearby town of Urda, Manuel Galán, told Spanish state broadcaster TVE that civil protection authorities had asked his town hall to prepare a sports pavilion to attend to injured passengers. A military emergency brigade was deployed to help emergency services, firefighters and police to the crash site. Spanish Prime Minister Pedro Sánchez cancelled his agenda to focus on the crash. He wrote on X that he was “dismayed by the seri-
ous train accident in Toledo.” “Emergency services are working on site to attend to the affected passengers,” wrote Sánchez, who faces a national election next month. “All my thoughts are with the victims and their families.” The regional president of Castilla La Mancha, Emiliano García-Page, wrote on X that he was on his way to the crash site. In January, 45 people died in southern Spain when a train jumped the track and hit an oncoming train. The crash was the deadliest in Spain since a 2013 crash that killed 80 people. The January incident shook the confidence the European country has in its extensive high-speed rail network.
conditions across 80% of global land since 2003, changes that can threaten crops, drinking water and sanitation. The current El Niño is set to exacerbate drought conditions in parts of the world into next year. “ T he climate cr isis is having profoundly damaging consequences for human health,” Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change, said in a statement. He cited impacts ranging from “deadly heat waves and floods to food insecurity, pollution and more disease.” The new report was produced by 146 researchers from dozens of institutions. Researchers tracked 54 measures of the health effects of climate change and efforts to address them. The authors call for governments to put health considerations at the center of climate and energy policy. They also conclude that steps to address climate change are producing health benefits: Cleaner air prevents about 323,000 deaths annually in at least 77 countries where air pollution from fossil fuels has declined since 2016. But fossil fuels still supply more than 80 percent of global energy, and fossil-fuel-related air pollution kills an estimated 2.7 million people per year. Health systems have also become better prepared. Fifty-six of the World Health Organization’s 194 member states now have national plans for adapting health services to climate change, up from 14 in 2015. Emily Bancroft, chief executive officer of Health Care Without Harm, an organization that works to reduce the health sector’s environmental impact, said finding the money to implement those plans remains a major challenge for countries. “The amount of dialogue and discourse around this work is very encouraging,” she said. “There is a real gap in the financing to get there.”
UALA LUMPUR, Malaysia—Malaysia’s customs department said Wednesday it had seized 30 servers equipped with advanced artificial intelligence chips in a suspected exportcontrol violation. Officials believe a syndicate is using Malaysia as a transit hub to re-export the chips to another Asian country. Malaysia introduced permit requirements for the export, transit and transshipment of high-performance AI chips of US origin last year, under pressure from the US to ensure sensitive technology isn’t rerouted to China through third countries. Washington has sought to restrict China’s access to advanced semiconductors to curb Beijing’s AI and military capabilities. The shipment, worth about 50 million ringgit ($12.2 million), was intercepted at the free trade zone area at the country’s main airport during an inspection on October 15,
the airport’s customs director Aspalila Ag Tuah told reporters. The servers, which came from an Asian country, were falsely declared as electric components to avoid detection before being reexported to another Asian country without the required permit, she said. “The syndicate is using Malaysia as a transit destination to ensure there would be no restrictions imposed while the servers are exported to the next destination,” the customs department said in a statement. Aspalila said the shipment was believed to be linked to a syndicate behind five attempted smuggling operations, including one in June when customs authorities seized 72 servers containing advanced AI chips at the airport’s free trade zone. She said a Malaysian firm that facilitated the shipment has been called in to assist investigations. She declined to give further details on the origin of the chips or their final destination, saying the case was under investigation.
A BusinessMirror Special Feature
www.businessmirror.com.ph
Thursday, October 29, 2026
A19
Beyond Borders: Penz Global and the Next Generation of Storytelling
Built on a foundation of publicity, meaningful relationships, and a vision that reaches beyond borders.
A
S industries evolve and geographical boundaries become less limiting, the future of business is no longer defined by where we begin, but by how we adapt, connect, and recognize opportunities beyond what is familiar. Established in the Philippines, Penser Q Multimedia Company built its foundation in publicity and public relations, eventually expanding its expertise to include end-toend event management, brand activations, creative production, influencer collaborations, and strategic partnerships. Building on this experience, Penz Global brings these capabilities to the international stage. With its base in Dubai, the company builds strategic partnerships with organizations such as Infinite Communities, where shared vision and strong relationships create opportunities for collaboration across borders. As technology reshapes the way stories are shared, one thing remains constant: the power of authentic storytelling. Beyond visibility, meaningful publicity is about building trust and telling stories that resonate with people. And perhaps this is what truly defines the spirit of Next Gen. “Next Gen is not just about the next generation. It's also about the next version of ourselves.” It is about having the courage to evolve, the curiosity to keep
learning, and the willingness to explore opportunities beyond what we already know. Whether it is a young entrepreneur taking the first step, a woman rediscovering a dream, or an established business finding a new direction, growth begins when we allow ourselves to imagine what else is possible. For Penz Global, looking ahead is not about leaving its beginnings behind, but building upon them while remaining open to what the future may bring. The next generation of leaders and storytellers will not be defined solely by how far they go, but also by the connections they build and the opportunities they create for others. The future is not simply something we wait for. It is something we continue to create, one possibility at a time. For businesses looking to strengthen their international visibility, explore new markets, or build meaningful partnerships overseas, Penz Global welcomes the opportunity to connect and explore what's possible. For inquiries and collaborations, contact Penz Global at info@penzglobal.com.
BUILDING CONNECTIONS BEYOND BORDERS. (L–R) Elena C. Cruz, Founder and CEO
of Infinite Communities; Josie Conlu, Community Leader of Infinite Communities; and Ana Liza Bautista, Founder and CEO of Penser Q and Penz Global. Their partnership reflects the power of meaningful connections and shared opportunities, with Infinite Communities leading Kalayaan, the Middle East’s largest Philippine Independence Day celebration.
At the helm is Ana Liza Bautista, Founder and CEO of Penser Q Multimedia Company and Penz Global, whose leadership is shaped by years of building industry relationships, exploring new markets, and a hands-on approach to bringing ideas to life. Embracing the spirit of Next Gen, she believes in the power of authentic storytelling, meaningful connections, and continuously evolving with the times.
A20 Thursday, October 29, 2026
The World BusinessMirror
Bolsonaro flees Brazil through Argentina; may land in Miami By Mauricio Savarese
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The Associated Press
AO PAULO—Flávio Bolsonaro, the defeated Brazilian presidential candidate, fled his country to Argentina and then Ecuador alongside his wife and two daughters, Argentina’s migration authority said on Wednesday. The 45-year-old senator and his family were granted United States visas the day before by the Trump administration. The move is almost certain to cause a big diplomatic rift between Brazil’s newly reelected President Luiz Inácio Lula da Silva and his Argentine counterpart Javier Milei, who traveled to Brazil to take part in Bolsonaro’s campaign. Bolsonaro is under investigation by Brazil’s Supreme Court for alleged corruption, money laundering and tax evasion in two cases. The court had ordered Bolsonaro to hand over his regular and diplomatic passports by noon Tuesday. It remained unclear whether he had complied, but allies said late Tuesday he also has an Italian passport. Argentina’s migration authority said on X that Bolsonaro, his wife Fernanda Antunes Figueira Bolsonaro, and his daughters Carolina Figueira Bolsonaro and Luiza Figueira Bolsonaro crossed into the country at 10:50 p.m. It added they entered via the Tancredo Neves International Bridge, a primary border checkpoint linking
Brazil to Argentina’s northeastern province of Misiones. “Those who did so possessed valid travel documentation and faced no legal impediments to entering the country,” the Argentine migration authority said. The authority said that at 11:30 p.m. local time, shortly after clearing immigration control, the four boarded a private charter flight operated by aviation company Baires Fly S.A. According to the filed flight plan, the aircraft departed for Guayaquil, Ecuador. Flight tracking website FlightRadar24 showed that a plane fitting the description of Bolsonaro’s landed in Guayaquil at about 4 a.m. local time, before taking off minutes later for Miami’s Opa Locka executive airport. It was not clear whether the defeated candidate was on board. Lula, who turned 81 on Tuesday, told several dozen supporters outside the presidential residence in Brasilia
OPPOSITION presidential candidate Sen. Flavio Bolsonaro speaks after the presidential runoff in Brasilia, Brazil, Sunday, October 25, 2026. AP PHOTO/ERALDO PERES
that he did not have precise information about Bolsonaro’s whereabouts, but said he had left Brazil. “I regret that he left Brazil, because he could have stayed here and proven that the accusations are not true,” Lula said. “This act of leaving Brazil is shameful.” Representatives of Brazil’s government and Bolsonaro did not immediately respond to requests for comment from The Associated Press. US President Donald Trump said early Wednesday that he would approve of Bolsonaro coming to the US, calling him and his family “fine people.” “The election was really strange, and I thought it was terrible,” Trump told reporters at Joint Base Andrews, Maryland, after returning from campaigning in Texas on Tuesday. He did not elaborate but stressed that he didn’t endorse the election results. Leaders all over the world and the Organization of American States (OAS) endorsed the result and congratulated Lula, who was reelected by a margin of about 4.4 million votes in the second and final round. Argentinian lawmaker Marcela
Pagano said on X she filed a suit at a federal court in the city of Puerto Iguazu late Tuesday to request an investigation into her country’s government for people smuggling and abuse of authority regarding Bolsonaro. “Our government says ‘he never entered’ Argentina. If he did, someone let him in. If they wanted to take him out through a federal airport, someone looked to the other side,” Pagano said. “Argentina’s border is not a VIP runway for anyone. Sovereignty is neither negotiated nor lent.” On Tuesday, Milei’s administration spokesman Adrián Ravier said “there is no asylum request (from Bolsonaro) and there is nothing more to add.” The defeated candidate was served with a Supreme Court order to surrender his Brazilian passports Monday. In a video, he said he received it outside the home where his father, former President Jair Bolsonaro, is serving a 27-year sentence under house arrest for attempting a coup following his 2022 election loss to Lula. After that defeat, Jair Bolsonaro fled Brazil for Florida. He returned three months later. Flávio Bolsonaro said on Monday in a video that he was attempting to organize opposition among his congressional colleagues to the election results. His eight-year term as a senator expires January 31, 2027, which will also cause him to lose special jurisdiction at the country’s Supreme Court. Brazil’s Supreme Court is investigating Bolsonaro for allegedly using a sports betting company to launder fraudulent deductions from government pensions paid to senior citizens. In a separate case, he is accused of accepting millions of dollars from a disgraced banker.
US data center buildout risks erasing climate progress By Eric Roston & Olivia Raimonde Bloomberg News
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HE surge in construction of fossil-fueled power plants to run AI data centers is set to undo 15 years’ worth of greenhouse gas reductions from US electricity generation, according to an internal analysis by the Sierra Club. The US power sector would emit 2.1 billion metric tons of carbon dioxide by 2030, after factoring in planned AI projects. That’s 618 million tons more than 2025 levels, by the Sierra Club’s calculations, or about a 42 percent increase. A year and a half ago, researchers at the nonprofit environmental group would have estimated that the buildout and its impact would have been a quarter or half of current projections, said Jeremy Fisher, the Sierra Club’s principal advisor for climate and energy. “The numbers continue to sort of boggle our minds,” he said. Many data center developers are turning to natural gas to meet the immense electricity demand, relying on power sources that are both on and off the grid. The bulk of the expected emissions by 2030 would come from sources that are not directly linked to the grid, often built by tech companies to avoid the long wait for a connection. These could exceed 460 million tons, Fisher said, roughly the same as the annual emissions of Mexico. Helen Kou, a BloombergNEF analyst, said if there’s significant growth in gas power for new facilities, “you would presume emissions would increase from year to date.” But how much is a difficult question to answer. There’s so much uncertainty in the projections for power emissions that the lowest and highest estimates differ by more electricity than the combined demand of California and Florida. The Sierra Club’s estimate of the climate impacts of the data center buildout is higher than others released so far. The wide range of projections is due to questions around how
many facilities will actually be built, what technologies they will ultimately use and how much renewable energy capacity comes online over the next few years. The environmental nonprofit Union of Concerned Scientists in January projected that fossil-fuel-powered electricity for data centers could increase US power-sector emissions by 19 percent to 29 percent, or as much as 342 million tons a year by 2035. US and Canadian researchers in June published a journal article projecting a 28 percent rise in the sector’s emissions. Other forecasts see US electricity continuing to decarbonize as economically competitive renewables outperform fossil fuels, despite the data center boom. Rhodium Group, a research firm that projects energy use and CO2, finds that in its highestemission scenario for 2040 that the sector’s greenhouse gas emissions fall 24 percent below their 2025 level. If the rush to build AI data centers leads to the upper bounds of the emissions projected by these researchers, it represents a reversal of a two-decade economic and policy trend toward less US power-sector climate pollution. Electricity emissions peaked in 2007. In 2009, thanks to advances in hydraulic frac-
turing, the US became the world’s largest natural gas producer. The fracking boom in turn drove down the price of natural gas, displacing dirtier coal plants across the US. Meanwhile, the Environmental Protection Agency wrote regulations to dial down carbon from power plants, and former President Joe Biden aimed to decarbonize the grid completely by 2035. Today, natural gas prices are historically low and President Donald Trump has undertaken a dramatic rollback of climate rules. That helped nudge US power-sector emissions back up in 2025. The Sierra Club analysis draws on public filings and other groups’ data center projections, including the Environmental Integrity Project’s count of expected plants and emissions by 2030. Grid-connected generators alone would increase 2030 baseline emissions by 10%, or 154 million tons of CO2. Then there are the bring-your-own-power projects. Four-fifths of the energy for those could come from natural gas, according to a separate analysis by Earthjustice and Better Data Center Project. The increased local air and climate pollution from such plants has already helped stoke opposition to data centers across the country.
AN Amazon Web Services (AWS) data center, left, and Microsoft data center in Aldie, Virginia, US, on Tuesday, October 28, 2025. BLOOMBERG
If all the projected data centers do end up being built on time, and with new natural gas fueling inefficient turbines 24/7 at some facilities, that could drive power emissions up, said Brendan Pierpont, director of electricity at Energy Innovation, a non-partisan energy and climate policy think tank. “There’s certainly a risk that that’s enough emissions to push us back many years of our progress on reducing power-sector emissions,” he said. “But it’s not a foregone conclusion that that’s going to happen.” But Pierpont said it’s challenging to model data-center emissions when little is known about factors like backlogs of gas turbine orders, wait times for grid connections or myriad other things that can slow or halt projects. “There’s just enormous uncertainty, both around the scale of data center demand that ultimately gets built and gets added as well as the power supply strategy,” Pierpont said. Many projects could be delayed or canceled. Just last month Oracle Corp. submitted a force majeure notice to the developer of its Project Jupiter data center in New Mexico, saying there is a risk that it won’t come online by 2028 as planned due to regulatory setbacks and community opposition.
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Thousands of Portuguese gather outside Parliament as housing protests swell By Barry Hatton The Associated Press
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ISBON, Portugal—Thousands of people demonstrat ing against a prolonged and deepening housing crisis gathered outside Portugal’s Parliament in Lisbon on Tuesday, after police in previous days used batons and dogs to break up similar protests in the capital’s main downtown squares. Protests in recent weeks took their cue from demonstrations that began in neighboring Spain last month over similar complaints about unaffordable housing. Wide social unrest in the streets also has erupted elsewhere across Europe this autumn. Portuguese President António José Seguro, whose role is mostly ceremonial but who wields political influence, has convened a Council of State, an advisory body, for a meeting next week to discuss the protests in Portugal. Several thousand mostly young people apparently in their 20s and 30s gathered outside the Republican Assembly, Portugal ’s Parliament, chanting, singing and banging drums, while inside the building lawmakers debated the center-right government’s spending plans for next year. “We’re fighting for the right to have a roof over our heads,” said Gabriel Pais, 30, who works in the entertainment business. One-bedroom apartments in Lisbon routinely go for 1,500 euros ($1,668) a month, he noted, in a country where the minimum monthly wage earned by hundreds of thousands of Portuguese is just 920 euros ($1,023) before tax. “It’s just unaffordable,” he said. A European Union report published at the end of last year said that housing costs surged across Europe by an average of 60.5 percent between 2015 and 2025. Portugal’s increase over that period was the third highest, at 147 percent, after Hungary and Lithuania. There is no sign that the growth in costs is slowing. Between the first quarter of last year and the first quarter of 2026, housing prices rose by almost 20 percent, the National Statistics Institute, a government
agency, said last week. Rental prices, too, have climbed significantly, recording a 68 percent increase since 2020, according to the government. Hugo Silva, a 49-year-old assistant salesman attending the protest, said he felt a sense of outrage and wanted to stand up for his rights. “This (housing) issue cuts across society,” he said. “We can’t accept this. Silence would be wrong.” Laura Andre, a 20-year-old Lisbon student, said she was living with her parents but wants to ensure she has prospects. “I want a home, to start a family,” she said. “And it’s getting harder and harder to build a life in Portugal.” Foreign buyers and investment funds have pushed up prices by buying Portuguese properties, including dilapidated buildings. The country’s pleasant climate and long coastline have helped it grow popular with digital nomads and other remote workers, as well as retirees. Tourism has also surged, with many city center apartments turned into short-term rentals. Local people say they are being priced out of the property market. Young people complain they can’t get a foot on the property ladder, and parents complain that their children have to move far away to find a home. At the same time, some Portuguese have made substantial profits by selling their homes. The government has responded with measures such as lowering taxes on new construction, restricting short-term rentals and promising to build 145,000 new homes, although it acknowledges that the effects won’t be immediate. Infrastructure development funds will be scarcer in 2027 as financing under the European Union’s post-COVID-19 economic recovery program ends this year. Portugal hasn’t seen the scale of violence, arson and looting witnessed in some other European countries, although protesters have complained about heavy-handed policing during the removal of tents erected in city squares. Authorities are evaluating whether the use of batons and police dogs was excessive.
Survey: Gen Z still skeptical of AI-infused dating apps By Natalie Lung Bloomberg News
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EN Z is dating more, according to a new survey, but the under-30s are still wary of artificial intelligenceinfused apps—which may not bode well for companies that have been adapting their products to cater to younger generation. Some 34 percent of users between the age of 16 and 28 are single and currently dating, up from 23 percent last year, according to a Bloomberg Intelligence survey of 1,000 US dating app users. The researchers also found that as this cohort has grown older, it’s become more willing to pay for dating-app subscriptions, even though they’re more price-sensitive than millennials. The survey, whose respondents were half men and half women, was conducted between August 26 and September 21. “As Gen Z ages, changing priorities toward dating and relationships could expand the future addressable market for dating apps,” wrote analyst Nicole D’Souza. Dating-app companies like Match Group Inc. have been investing into new product features to win over younger daters and narrow broader user declines. Those have included double-dating and group dating options, as well as in-person events. But not all features, particularly ones involving artificial intelligence, may be landing with younger daters. Gen Z remains
more cautious than other age groups about using AI in the apps, a finding that echoes a BI report published last year. A little over half of Gen Z users were comfortable with using the technology to help draft responses and engage in conversations, compared with 70 percent of millennials, according to BI. While Match has seen more Gen Z users engaging with new social and dating features on the Tinder platform, the company’s broader turnaround efforts have yet to translate into consistent financial gains. Analyst estimates compiled by Bloomberg point to a year-over-year contraction of Match’s revenue this year, before it grows again in 2027. Dating-app peer Bumble Inc. tried introducing AI features and ditching its signature women-message-first model before agreeing recently to sell itself to a private-equity firm at less than 10 percent of its peak value. Broadly, a significant share of users surveyed by BI said they don’t find it challenging to create a dating-app profile, calling into question whether users will embrace the AI tools that were designed to help with selecting photos and filling out profile prompts. “Dating apps may need to remain cautious in their use of AI, balancing tools that improve the user experience with the risk of turning away younger users who want more genuine connections,” D’Souza wrote.
AMID A HARVEST OF AWARDS, YOUR SUPPORT COUNTS MOST
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HE pandemic tested the media industry, forcing newsrooms around the world to overhaul the way they do their job while following strict health protocols in order to survive a deadly infection. The BusinessMirror, the country’s premier national business daily, was tested like everyone else, and survived, even continuing to live up to its promise to provide a broader look at today’s business. In November 2021, the business broadsheet was recognized as the “Business News Source of the Year” for 2020 by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies. It was a 4-peat for BM, having gotten the same honors for the years 2017, 2018 and 2019. And, as in the past Ejap awards, it also swept half of the individual categories, with its seasoned reporters adjudged as best in their respective coverages. Earlier in 2021, the BusinessMirror was given the Pro Patria Award by the Rotary Club of Manila, for “its commitment of valuable resources for the protection of free expression and its resilience in disseminating fair and truthful information resulting in an informed and enlightened citizenry.” It was just the latest recognition from the prestigious Rotary Club, which named it “Business Newspaper of the Year” for 2018-2019, and again in 2020. In all, it has received six top
Rotary journalism awards in its short 16-year existence. The BusinessMirror has also consistently reaped top awards in the Brightleaf Journalism Awards for Agriculture and the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC) Binhi Awards, also for the best in agriculture journalism. The BusinessMirror was also repeatedly adjudged the leading daily in biotechnology journalism, a recognition bestowed by the Jose G. Burgos Jr. Biotechnology Journalism Awards. The “broader look” mantra also drew recognition from the Philippine Statistics Authority (PSA) which named the BusinessMirror, at its first awards rites in 2018, as the inaugural “Data Champion.”
In the first “Bantog Science for the People” awards for media from the Department of Science and Technology, the BusinessMirror got the top award for the Institution category for Print; and the grand prize in the individual category for science journalist Stephanie Tumampos. In 2018, Environment Reporter Jonathan Mayuga received the Luntiang Aligato award from the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore. The Broader Look at biodiversity was also recognized. It was named among the Asean Champions of
Biodiversity, for the Media Category, by the Asean Centre for Biodiversity. The Broader Look also extended to the paper’s corporate social responsibility. It organized and staged the first-ever recognition rites for the best of the Philippines’s friends in the world, with the “MISSION PHILIPPINES: The BusinessMirror Envoys & Expats Awards.” The initiative won a Gold Anvil in 2019. Distinguished institutions in government have also repeatedly recognized the BusinessMirror’s role in spreading the word about the work they do—information that shines a light on good governance and committed public service to uplift people’s hopes. Most notably, these are the Social Security System and Pag-IBIG Fund. Sixteen years, two of them in a pandemic, have tested the promise of a Broader Look. But they are also a measure of the unstinting support of friends—advertisers and news sources alike—and readers who continue to believe in that promise.
THANK YOU, EVERYONE. YOUR LOVE AND SUPPORT IS OUR MOST IMPORTANT TROPHY.
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A22 Thursday, October 29, 2026 • Editor: Angel R. Calso
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editorial
Hydropower is ready; where is the capital?
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HE Department of Energy has finally said out loud what the country’s energy planners have whispered for years: the Philippines is sitting on 25,000 megawatts of untapped hydropower, and it intends to do something about it. That is a welcome admission. It is also the easy part. (Read the BusinessMirror story: “Tap P5-T undeveloped hydro resource,” October 26, 2026). The hard part is the P5 trillion. DOE’s pitch rests on a familiar set of carrots. There is the P6.9282 per kilowatt-hour feed-in tariff for run-of-river hydro, locked in for 20 years—a rate that, as the agency’s own officials concede, beats most bilateral contracts on the market. There is the promise of an even richer price in Green Energy Auction 7, with 175 MW targeted for delivery between 2028 and 2030, terms of reference due by late October or early November, and bidder registration opening in December. On paper, the incentive architecture is sound. But incentives are not capital. At roughly P200 million per megawatt, a 25,000 MW build-out is not a tariff problem—it is a balance-sheet problem. A 20-year FIT tells a developer what he will earn. It does not tell him where the equity, the debt, and the transmission capacity will come from. Until the DOE pairs its auction schedule with a credible financing roadmap—sovereign co-investment, concessional lending, clear grid-connection guarantees—the trillion-peso figure remains a slide in a presentation. The Kalayaan pumped-storage plant is the tell. It is the country’s established operating facility of its kind, and it now sits inside a 797 MW complex turned over this year to a consortium led by Aboitiz Renewables. The DOE deserves credit for getting a policy framework on paper—Circular 04-006-2025 on optimal utilization, plus supplemental dispatch rules for Kalayaan and future pumped-storage bidders. But handing the crown jewel to private hands means the state’s institutional learning curve now runs through a corporate balance sheet. That can work. It can also mean the public pays tuition. There is a subtler caution buried in the news. Philhydro wants the DOE to exploit El Niño’s low water levels to accelerate construction—a smart scheduling idea, but a reminder that hydro is only as reliable as the rain. Run-of-river plants and pumped-storage facilities are not interchangeable assets; one rides the river, the other stores the peak. Policymakers must resist lumping them together under a single headline number. None of this argues against the push. Hydro is the backbone the grid has neglected, and pumped storage is precisely the tool a renewable-heavy system needs to survive the evening peak. The DOE is right to move, and right to move now. But ambition is judged in execution, not intent. Issue the GEA 7 terms on time. Run a clean, transparent auction. And above all, show the country where P5 trillion actually comes from. If the agency can answer that question, hydropower stops being a slogan and becomes the spine of a serious energy system. If it cannot, 25,000 megawatts will sit in the river for another decade—counted, praised, and unbuilt. Since 2005
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OUTSIDE THE BOX
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HREE stories reveal the truth of the real world. The first is Japan. On April 1, 2014, Japan raised its consumption tax, its version of a value-added tax, from 5 percent to 8 percent. Shoppers ran to the stores first. Takashimaya, the Japanese department store chain, reported March sales up 32 percent across its 18 stores. In the weeks before the deadline, shoppers rushed to buy refrigerators and televisions, since not paying a 3 percent increase on an expensive appliance saved thousands of yen. Electronics stores reported record crowds and empty shelves in late March. The sales figures looked like a boom.
In April, national retail sales fell 4.4 percent from a year earlier, and Takashimaya said its first-week sales were down about 25 percent. Buyers had seen the tax coming, bought early and when the tax arrived, there was nothing that they wanted to buy. The second story comes from Philadelphia. On January 1, 2017, the city began taxing sweetened beverages to pay for universal pre-kindergarten and community schools. It was a win-win. Cut sugar consumption and do it for the children. The revenue model assumed a 27 percent drop in consumption and projected US$91 million in the first year.
Instead, shoppers crossed the city line. A study in the Journal of the American Medical Association found that taxed beverage sales at chain stores inside the city fell 51 percent, but sales in neighboring areas rose by an amount equal to about 24 percent of that drop. A quarter of the sales did not disappear. They moved down the road. First-year collections came to US$78.8 million, 13 percent short. The city planners had written a tax, and the public had read a map. The third is Manila. On October 20, Mynt Inc., parent of the GCash ewallet, listed on the Philippine Stock Exchange in the largest offering in
its history. GCash reported 41.5 million monthly active users in the first half of 2026. The company, through its app, allotted users their first 100 shares in real time, and the prospectus carried a ceiling of P10 a share. Then money talked. Early guidance floated P7.50 to P8.50. Cornerstone investors, 19 foreign and six domestic, took 59.8 percent of the offering, and the final price settled at P6.60, 34 percent below the ceiling. Then came the first day of trading. The stock opened at P6.60, the offer price, climbed as high as P6.76 and closed at P6.60. I said it was a ‘perfect’ IPO listing day. This was because I watched ‘weak hands’ able to break-even selling at P6.60, P6.61, and P6.62. Disappointed buyers who did not get their full requested allotment were able to buy more than P1 billion at P6.60, P6.61, and P6.62. Yet, despite the record size, the cornerstone investor funds, and the massive hype and promotion from the company, the stock exchange, and many in government, the market was not that impressed. Forty-one million users made GCash famous. The market paid the offer price and left it there. I have traded the financial and asset markets since the early 1970s. I am a trader, not a scholar, and what I had to learn was how markets behave. I have taught novice traders that you cannot learn the markets from a book. You must read the books, but
Serbian politics enter new era with leaderless bloc taking power By Misha Savic, Jasmina Kuzmanovic & Andrea Dudik
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ERBIA’S surprise rejection of veteran leader Aleksandar Vucic hands political power to an opaque protest movement with no track record.
The Student List, formed from backers of mass anti-government protests that gripped the nation nearly two years ago, won an outright majority in a snap general election promising to stamp out corruption and boost democratic norms. But hours after polls closed and Serbs flooded the streets of Belgrade in jubilation, the group remained silent on who the next prime minister is going to be, or about priorities and specifics on how it will govern the biggest former Yugoslav republic. “This is the victory of the conviction that Serbia can and will do better,” said Radomir Saicic, one of the movement’s leaders in the only statement issued by the group on Sunday. Contrary to fears of possible violence, Vucic conceded defeat just 90 minutes after the polls closed, handing victory to the grassroots movement that built its mass support with a rallying cry to fight corruption and
creeping authoritarianism. The Student List won 53 percent of votes compared with 39 percent for Vucic. Serbia is now headed for an unprecedented political shakeup and potential probes into deals and policies of the previous ruling elite. It’s unclear for now how that revamp will play out. The Students List has operated without a single leader and hashed out its decisions in a patchwork of plenums. It also chose paid academics—professors and postgraduates—and members of other professions as main candidates in the race. This arrangement may struggle in contact with the harsh realities of everyday politics. Especially in a country at geopolitical fault lines, where Vucic perfected the art of juggling relations with Balkan neighbors, Russia, China, the European Union and the US administration of President Donald Trump.
Contrary to fears of possible violence, Vucic conceded defeat just 90 minutes after the polls closed, handing victory to the grassroots movement that built its mass support with a rallying cry to fight corruption and creeping authoritarianism. The Student List won 53 percent of votes compared with 39 percent for Vucic. “You can have a movement without a name to topple an autocrat, but you cannot run a country that way,” said Florian Bieber, professor of Southeast European studies at the University of Graz. “Now it’s a different world for them. And that’s a big demand.” Serbia’s foreign-currency bonds gained after the election, with yield on 10-year eurobonds falling 17 basis points to 5.19 percent, the lowest in seven weeks. The country’s dollar-denominated notes due in 2036 were the best performers in emerging markets early on Monday. Meanwhile, the shares of Strickland Metals, an Australian miner
you must learn to read the people. Of all the ideas, none in my opinion is more absurd than the Efficient Market Hypothesis, the belief that prices already reflect all public information, that investors always act rationally, and that short-term price movements absorb every scrap of that public information. Anyone who has actually traded in real time knows the market operates on an entirely different logic, captured in the classic Wall Street principle: “Buy the rumor, sell the news.” We do not need to look further than the 1987 crash for proof. When the market collapsed, institutional fund managers were not responding to fresh financial data. In fact, they were dumping shares simply because the Dow was plunging off a cliff and were completely clueless about why it was happening or if the bloodbath would continue the next day. Mynt said the GCash deal was oversubscribed by multiple times. On the first day of trading, it closed unchanged. Hype is free until somebody has to pay for it. Japan beat the deadline. Philadelphia beat the city line. Manila beat the hype. Three stories, one rule. Everything else is a press release. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
with a gold and base metals project in Serbia, slid as much as 33 percent as the company said the election outcome “may have influenced investor sentiment.” Vucic, 56, was the second longtime leader to lose an election in eastern Europe this year, following the ouster of his ally Viktor Orban in Hungary six months ago. The former president pledged to make a comeback, saying “I’ll defeat them much sooner than they think.” His exit amounts to a tectonic shift for Serbia. The parliament will now effectively have only two sizable political camps, removing an array of mainstream groups from liberal to conservatives and nationalists. Also out for the first time in 18 years are the Socialists, once led by late strongman Slobodan Milosevic. A new parliament may convene as early as next month. Vucic called the election more than a year ahead of schedule after unrelenting anti-government rallies, triggered by the collapse of a train station canopy that killed 16 people in 2024. University students spearheaded the protests, blaming See “Serbian,” A23
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Industrialization simplified: Protect the domestic market first Dr. Jesus Lim Arranza
MAKE SENSE
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HEN taking an examination, students are often advised to answer the easy questions first. This lets them accumulate points quickly, build confidence, and devote the remaining time to the harder questions. Those who spend too much time wrestling with the hardest questions may run out of time before answering the easier ones.
I believe the same principle should guide our industrialization strategy. For decades, we have discussed the many challenges confronting Philippine manufacturing: expensive electricity, inadequate infrastructure, limited access to financing, high logistics costs, bureaucratic inefficiencies, and the need to strengthen our industrial supply chains. Today, October 29, the Federation of Philippine Industries is highlighting these concerns again at the FPI Business Summit 2026 in Shangri-La The Fort with the theme “Sustaining Growth Through Industrialization.” These are legitimate concerns that require long-term solutions. But must we solve all these difficult problems before we can make meaningful progress toward industrialization? Certainly not. Some critical reforms will have a longer gestation. But for me, the easiest, fastest, and most practical starting point is protecting the domestic market for our existing local industries. Filipino manufacturers have already proven they can compete internationally. What they need is a government that will ensure they are not unfairly disadvantaged at home. Consider Philippine Batteries Inc. (PBI), the manufacturer of Motolite batteries. Through Filipino entrepreneurship, technological capability, investment, and perseverance, PBI has established a strong presence in the Asia-Pacific and North American markets. Here is a Philippine company competing in sophisticated international markets, generating export revenues, creating jobs, and demonstrating that Filipino manufacturing can meet global requirements. PBI is not alone. Steel Asia, for instance, exports world-class steel bars but is being hurt by the proliferation of cheaper, substandard products made by companies using induction furnaces that China has already banned. Defense Secretary Gilbert Teodoro has already initiated operations and raids against companies using induction furnaces. Our textile and garment industries are being wiped out by the rampant sale of used apparel (or ukay-ukay), despite the law banning it (Republic Act 4653). This carries a penalty of perpetual disqualification from holding public office, so I find it hard to understand why our national—and more so local—officials are neglecting this, proof of which is that ukayukay stores are everywhere, some even located in front of city and
municipal halls. Other Philippine companies produce world-class goods, pay taxes, employ Filipino workers, and compete against established international brands. These companies are our industrial champions. They prove that industrialization is possible. Yet many of them must contend with unfair competition in their own domestic market, particularly from imported products entering through undervaluation, misdeclaration, and other forms of technical smuggling. How can we expect our manufacturers to expand production facilities, invest in new technologies, and create more jobs if unfairly traded imports keep undermining their domestic market? Even politicians understand the importance of a bailiwick. It is their dependable base of support from which they can pursue broader political ambitions. Our manufacturers need the same thing: a strong, dependable domestic market from which they can expand operations and compete internationally. This is why I consider domestic market protection the low-hanging fruit of industrialization. We don’t need to wait for new power plants, massive infrastructure projects, or complicated industrial policies before taking action. We can begin by enforcing the laws and regulations we already have. The Bureau of Customs must intensify its campaign against technical smuggling, particularly the undervaluation of imported products. When importers deliberately declare values below the actual transaction prices, they evade the proper payment of duties and taxes. More importantly, they gain an artificial price advantage over legitimate businesses, including Philippine manufacturers that faithfully comply with government regulations. This is not fair competition. It distorts the market, punishes legitimate enterprises, and rewards dishonesty. Equally important is strictly enforcing mandatory product standards. Unscrupulous traders can gain an unfair advantage by importing cheap, substandard products and selling them at prices legitimate manufacturers cannot reasonably match. Consumers may believe they are saving money. In reality, they may expose themselves and their families to serious risks. Substandard electrical products can cause fires. Inferior construction materials can compromise the
Serbian. . .
Student List representatives have said the country can decide on that in a referendum, if invited by the bloc. Still, EU Commission President Ursula von der Leyen welcomed the change of power in a post on X, saying the bloc was “ready to support reforms.” Russia, one of Vucic’s traditional allies, intends to continue developing relations with Serbia, though “it takes two to tango,” Kremlin spokesman Dmitry Peskov told reporters. Moscow hopes the new authorities in Belgrade understand that cooperation with Russia is beneficial for Serbia, he said. “We very highly appreciate Vucic’s contribution to the development of our bilateral relations,” according to Peskov. With
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corruption and incompetence among ruling officials for the deaths. With the ex-president now out of the picture, his geopolitical balancing act is likely to prevail. Ahead of the vote, the movement’s representatives were cautious on sensitive issues like the nation’s rejection of Kosovo’s unilateral secession or on adopting sanctions against Russia. The opposition, which gained traction for the first time in more than a decade, pledged to focus on fighting corruption, overhauling the judiciary, improving election conditions and boosting media diversity. Meeting EU membership conditions isn’t an immediate priority. The
assistance from Tony Halpin and Peter Laca / Bloomberg
safety of buildings and infrastructure. Poor-quality automotive components can endanger motorists. Unsafe food and medicines can threaten public health. This is why product standards must be enforced consistently, regardless of whether the goods are imported or locally manufactured. Protecting consumers and ensuring fair competition are complementary objectives. In fact, I have personally taken the initiative to file a petition before the Supreme Court to strengthen enforcement of mandatory product standards. Through this petition, we are asking the High Court to adopt a rule under which only the SC may issue injunctions against the implementation of product standards, similar to the special protection accorded to environmental regulations and enforcement actions. The objective is straightforward: to prevent lower courts from easily frustrating the implementation of product safety regulations with injunctions. The Supreme Court has already directed the Department of Trade and Industry (DTI) and the Food and Drug Administration (FDA) to submit their respective comments on the petition. I must admit I was quite disappointed by what I consider the DTI’s rather lukewarm response. Instead of expressing unequivocal support for a measure intended to strengthen product-standard enforcement, the department essentially left the matter to the SC’s discretion. Of course, the justices make the final decision. Nobody disputes that. But shouldn’t the DTI, as the principal government agency responsible for trade regulation and enforcing many mandatory product standards, actively support a measure that could strengthen its ability to protect consumers? Would it not have been more prudent for the department to tell the Supreme Court: “Yes, we need this protection. Please grant the petition.” That, in substance, is precisely what the FDA did. Through the Office of the Solicitor General, the FDA asked the SC to approve the FPI petition. I commend the FDA for recognizing the importance of protecting the implementation of product safety regulations from legal obstacles that could weaken their effectiveness. I sincerely hope the DTI will reconsider its position and submit a supplemental manifestation to the SC expressly adopting the FDA’s position. I am writing to Secretary Cristina Aldeguer-Roque to seek her support, as she may not be aware of this somewhat disinterested response of one of her assistant secretaries. Our objective is not to deny legitimate businesses access to judicial remedies. Our objective is to ensure that enforcing regulations intended to protect lives, property, and public welfare is not unnecessarily disrupted. Some may argue that protecting our domestic market could expose
With the full support of FPI directors and members, I will continue speaking out against smuggling, substandard products, and unfair competition. I will continue calling for stronger support for Filipino manufacturers, better protection for consumers, and more opportunities for Filipino workers. I have devoted a substantial part of my life to these advocacies.
the Philippines to sanctions under the World Trade Organization. That argument confuses legitimate regulatory enforcement with prohibited trade discrimination. WTO rules recognize membercountries’ right to establish and enforce measures necessary to protect human health, safety, and the environment, and to prevent deceptive practices. Collecting the correct customs duties, preventing fraudulent declarations, and requiring products sold in the Philippines to meet applicable safety standards are not inherently protectionist or inconsistent with our trade obligations. Other countries have shown that protecting domestic industries and maintaining an open trading system are not necessarily contradictory. The United States has long implemented its America First policy. It has also adopted measures intended to strengthen domestic manufacturing and reduce dependence on foreign supply chains. The European Union enforces trade-defense measures against unfairly subsidized imports. Japan has provided substantial government support for strategic manufacturing sectors, particularly semiconductors, while China has long used industrial policies, investment incentives, and government procurement to develop domestic production capabilities. The Philippines should not be more pompous than the Pope. If countries that have long championed globalization actively safeguard their economic interests, why should the Philippines hesitate to exercise the legitimate policy tools available to us? Another relatively easy step the government can take is to give meaningful preference to locally manufactured products in public procurement. Republic Act No. 11981, or the Tatak Pinoy Act, expressly provides for preference and priority for Philippine products and services in sectors covered by the Tatak Pinoy Strategy. Republic Act No. 12009, or the New Government Procurement Act, likewise provides for domestic preference, subject to the conditions and exceptions specified by law. Under the law, a qualifying domestic bidder may receive a preference even when its bid is higher than the lowest foreign bid, subject to applicable requirements. The FPI, with the support of the Federation of Filipino-Chinese Chamber of Commerce and Industry Inc., also launched the “Buy Pinoy Buy Local Campaign,” and this was recognized by for-
mer President Gloria MacapagalArroyo. She signed Administrative Order 227 on November 12, 2008 that explicitly directs all heads of national government departments, bureaus, offices, agencies, state universities and colleges, government-owned and/or controlled corporations, government financial institutions, military and police units, and LGUs to give absolute preference to materials and supplies produced, made, and manufactured in the Philippines. The legal framework is already in place. What needs strengthening is its actual implementation across government agencies. Consider the proposed national budget for 2027, amounting to more than P7 trillion. Imagine the additional demand for Philippine-made products if government agencies consistently prioritized qualified domestic suppliers for the goods and materials they need. Of course, not every peso in the national budget is available for procurement. But even a fraction of government procurement directed toward competitive, standardscompliant Philippine-made products could generate substantial business for local manufacturers. That means more production, more jobs, greater demand for locally sourced materials, and more tax revenue. We are also urging the concerned agencies to remove all bureaucratic burdens in the importation of critical raw and intermediate materials needed by our local manufacturers. I am encouraged by the support expressed by Customs Commissioner Ariel Nepomuceno for our proposal to provide more direct assistance to Philippine exporters and manufacturers. During our discussion, we agreed on the importance of identifying our industrial exporters, documenting the problems confronting them, and determining what immediate interventions the BOC can undertake. While discussing industrialization in general terms, we want to identify specific companies, specific problems, and specific government actions. This is where the FPI intends to take a more active role. The FPI Secretariat will reach out to our members and distribute forms asking them to identify the support they need from government. We want to know the problems affecting their operations, particularly those involving technical smuggling, undervaluation, substandard imports, unfair competition, and other regulatory concerns. We will consolidate these submissions, identify the agencies responsible, and bring the concerns directly to the appropriate officials. More importantly, we intend to follow up until concrete action is taken. With Commissioner Nepomuceno’s commitment, we now have an important ally in government. I hope other agencies, particularly those responsible for trade, industry, standards enforcement, and govern-
Thursday, October 29, 2026 A23
ment procurement, will demonstrate the same willingness to work closely with our manufacturers. Time is of the essence. The Marcos administration has less than two years remaining in its term. We cannot afford to spend the remaining months endlessly debating industrialization strategies without producing tangible results. The longer we delay, the more opportunities we lose to strengthen our manufacturing base, attract investments, and generate employment. We must simplify our approach. Let us answer the easy questions first. Stop technical smuggling. Prevent undervaluation. Enforce product standards. Implement domestic preference in government procurement. Address the immediate concerns of industries already producing, employing workers, and exporting to the world. At the same time, government must continue addressing the more difficult structural challenges, particularly high electricity costs, infrastructure deficiencies and the need for stronger integration of domestic supply chains—from raw materials and manufacturing to distribution and final market delivery. To our fellow manufacturers and FPI members, I extend this invitation: Work with us. Please tell us what assistance you need, and we will do our best to bring your concerns to the proper government agencies and pursue concrete solutions. The FPI stands ready to serve as the collective voice of Philippine industries. Many of you have probably heard me say this before. Some may even observe that I have raised the same issues, repeated the same appeals, and pursued the same advocacies for years—perhaps even decades. And they would be right. But please do not be disheartened. And please do not dismiss these appeals as the repeated grumblings of an old man. Huwag ninyong pagsasawaan ang mga ito. With the full support of FPI directors and members, I will continue speaking out against smuggling, substandard products, and unfair competition. I will continue calling for stronger support for Filipino manufacturers, better protection for consumers, and more opportunities for Filipino workers. I have devoted a substantial part of my life to these advocacies. I am already old, and some days I feel the weakness that comes with age. But my determination to fight for Philippine industries, Filipino consumers, and Filipino workers has not diminished. As long as I have the strength and the opportunity to speak, I will continue raising these concerns until they are fully addressed—until the deaf can hear and those having second thoughts are fully convinced. Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and concurrent Chairman of the Anti-Smuggling and AntiIllicit Trade Committee.
Norway rejects Trump’s slurs over Nobel Peace Prize snub By Ott Ummelas & Heidi Taksdal Skjeseth
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ORWAY dismissed Donald Trump’s slurs made at a weekend election campaign event, pointing out the US president’s anger over not being awarded the Nobel Peace Prize was misplaced. “So I’m not in love with Norway. Frankly Norway sucks. Norway has become a ‘s—-house’-country, actually,” Trump told supporters at a rally in Michigan on Sunday, repeating his earlier claims he should have received the prize after he “settled eight wars and I’ve got two more coming.” “I don’t want anything to do with Norway,” he said. The comments are a complete U-turn from a day earlier, when Trump used a
similar insult against Libya, Yemen, Haiti and Somalia at a rally in Perry, Georgia, while adding “Why can’t we take people from like, well, Norway, Sweden?” The slur was quickly rebutted by Norway’s Foreign Minister Espen Barth Eide, who said Trump “is currently in the midst of an election campaign that perhaps isn’t going very well for his party, and that leads him to say a lot of things.” Trump’s fixation on the Nobel Peace Prize that’s proven elusive has triggered
several outbursts from the US president. Last year, he ran an aggressive campaign to receive the award, arguably the most prestigious accolade in global diplomacy. Speaking in a radio interview with NRK on Monday, Eide said Trump “knows very well that the Nobel Committee is independent.” Kristian Berg Harpviken, the director of the Norwegian Nobel Institute that hosts the Nobel Committee, told Bloomberg by phone that the organizations “register that the interest for the Nobel peace prize is high and that people are lobbying to get it in many different ways.” Earlier this month, when the prize for 2026 was awarded to Navi Pillay, a South African judge and human rights lawyer, Trump called the decision an “indelible stain on the country of Norway.”
Aside from Trump’s dismay with Norway over not getting the Nobel Peace Prize, the Norwegian government has also had other run-ins with the US since last year. Those include investment decisions made by the $2.3 trillion sovereign wealth fund that were denounced by the MAGA camp. Norway is one of the members of the Nato alliance that shares a border with Russia. While the Nordic nation has boosted bilateral defense ties with the UK, Germany and France, it has also sought to play up its importance for US security in monitoring Russia’s nucleararmed Northern Fleet near its frontier. “We place great value on our longstanding relationship with the United States, and our foreign policy remains robust,” Eide, the foreign minister, said. Bloomberg
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SPEED VS. DUE PROCESS: FIRST KEY BATTLE IN DUTERTE ICC TRIAL By Malou Talosig-Bartolome
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UDGES of the International Criminal Court (ICC) are being asked to allow some witness statements in the case against former Philippine President Rodrigo Duterte to be admitted without full courtroom testimony, a move prosecutors say would speed up the proceedings. Duterte’s lawyers oppose the request for key witnesses, arguing that the former president must be allowed to challenge evidence that directly implicates him. The dispute highlights a key question facing the court as it prepares for trial in The Hague: how to keep proceedings moving while protecting Duterte’s right to crossexamine witnesses. At the center of the debate is Rule 68 of the ICC Rules of Procedure and Evidence, which allows judges under certain circumstances to admit previously recorded testimony. Prosecutors are invoking Rule 68(2) (b), which permits written statements on matters that do not directly concern the accused’s alleged conduct, and Rule 68(3), which allows written testimony while preserving the opportunity for questioning in court. The Office of the Prosecutor is seeking to admit several witness statements in writing, arguing that they provide background on the alleged anti-drug campaign rather than direct evidence of Duterte’s actions. “The Prior Recorded Testimonies...do not concern the acts and conduct of the Accused,” prosecutors said in a filing. Instead, they deal with the broader context of the
alleged crimes and policies behind them. Acting Prosecutor Mame Mandiaye Niang argued that admitting the statements would “enhance the expeditiousness of the proceedings, obviate the unnecessary appearance of the witnesses, save valuable court time and resources, and serve the interests of justice.” For other witnesses, prosecutors have proposed a compromise under Rule 68(3): their written statements would be admitted into evidence, but they would still appear in court for limited questioning and cross-examination. Prosecutors said this approach is “not prejudicial to or inconsistent with the rights of the Accused” because the witnesses would remain available for questioning by both the defense and the judges. Duterte’s defense team, led by Peter Haynes KC, agrees that the proceedings should be efficient, citing the former president’s age and health condition. “The Defence supports the use of Rule 68[2][b] to expedite the trial, particularly in light of Mr Duterte’s age and frailty,” Haynes said. “However, procedural efficiency must not come at the expense of his fundamental right to defend himself effectively.” The defense has raised no objection to some witnesses whose testimony is limited to background information. However, it opposes admitting the statements of two witnesses without live testimony. According to defense filings, one witness allegedly links killings to a system of rewards and quotas, while another is a key witness in one of the charged murder incidents. See “ICC trial,” A2
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Govt dared to ‘match’ BSP’s resolve in blunting El Niño
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By Andrea E. San Juan
HE government must “match the resolve” of the Bangko Sentral ng Pilipinas (BSP) in shielding the economy from the threat of a very strong El Niño, through better spending, stronger supply systems, and early preparation to protect those who need help most. In a statement on Wednesday, the Financial Executives Institute of the Philippines (Finex) called for “immediate action” in five areas against the backdrop of the threat of a “very strong” El Niño. “With the threat of a very strong El Niño, government must act before shortages translate into higher prices. Pagasa has warned of potentially severe conditions extending into 2027,” Finex said. Finex said the government must match the resolve of the central bank as it is already acting on the monetary side.
“Government must match that resolve through better spending, stronger supply systems and early preparation to protect those who need help most and make sure today’s response to inflation does not become tomorrow’s fiscal problem,” Finex pointed out.
Immediate action in 5 areas
THE group of financial executives thus laid out five recommendations to brace for the impact of El Niño. First, Finex called on the government to protect agricultural production and farmers’ livelihoods.
“Prioritize repairs to existing irrigation systems, water storage and efficient irrigation equipment that can be deployed quickly,” the group said in its statement. It also emphasized the need to help farmers adjust planting schedules using localized forecasts and provide sustainable drought-tolerant seeds. Crop insurance, emergency credit and timely assistance should help farmers remain productive through the disruption, Finex said. Second, the group underscored the need to secure food supplies early and “transparently.” Under this area, Finex recommended the publication of credible assessments of production, inventories and expected shortfalls. “Where gaps are evident, arrange timely, calibrated imports from diversified sources, with safeguards against arrivals that unnecessarily depress farmgate prices during harvest,” Finex noted. It emphasized that waiting until shortages are already visible leaves consumers paying more and government with fewer options. Third, the business group pointed out the need to lower logistics and distribution costs.
“Accelerate customs clearance, remove unnecessary trading and transport barriers, and address bottlenecks in ports, storage and distribution. Enforce competition rules and act against unlawful hoarding and collusion, supported by evidence and due process,” Finex said. Fourth, the group of financial executives emphasized the need to prepare water and power systems together. “Coordinate reservoir management, repair leaks, establish clear water allocation protocols and prepare for reduced hydropower availability alongside higher electricity demand,” Finex noted. “Preventive maintenance and adequate power reserves can help avoid disruptions that raise production costs,” added Finex. Fifth, Finex said there is a need to protect vulnerable households while maintaining fiscal discipline. “Provide targeted, rules-based temporary assistance to those most affected. Fund this through reprioritization toward urgent needs and effective programs. Broad subsidies and poorly targeted spending can strain already limited public finances See “El NiÑo,” A2
DOJ opinion allows 3rd parties despite deal with NGCP By Joel R. San Juan
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LIGHTING THE WAY FOR UNDAS Workers at Domrose Candle Manufacturing in Caloocan City prepare candles on Monday, October 26, as demand builds ahead of Undas, the Philippine tradition of honoring departed loved ones during All Saints’ Day on November 1 and All Souls’ Day on November 2. Families typically visit cemeteries and memorial parks to offer prayers and light candles at graves. The Department of Trade and Industry (DTI) said candle prices and other basic goods remain stable ahead of the observances. NONOY LACZA
‘Arsi’: PHL must curb overdependence By Bless Aubrey Ogerio
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@blessogerio
HE Philippines cannot count on past global economic conditions to return and must reduce its dependence on external markets while strengthening its ability to adapt, Socioeconomic Planning Secretary Arsenio M. Balisacan said. “We cannot assume that the conditions underpinning past growth will return,” Balisacan said during a plenary session at the 2026 Autumn Economic Forum in Ho Chi Minh City, Vietnam on Wednesday.
“But the answer is not to retreat from integration. It is to reduce over-dependence and build our capacity to adapt,” he added. For the chief of the Department of Economy, Planning, and Development, the next phase of economic growth would increasingly come from artificial intelligence, advanced manufacturing, digital services and the shift to greener industries, requiring investments in infrastructure, innovation, workforce skills and connectivity. Balisacan also stressed that a country’s ability to benefit from investments depends partly on the
domestic business environment supporting them. “The value of an investment depends partly on what the country’s ecosystem enables it to do,” he said. Regional cooperation, he said, could help economies achieve results that would be difficult to deliver independently, particularly in energy connectivity and digital trade. The Philippines is advancing these priorities through its 2026 chairship of the Association of Southeast Asian Nations (Asean), including efforts to strengthen regional energy security and connectivity through the Asean Framework Agreement on
Petroleum Security and the ASEAN Power Grid. On digital trade, Balisacan cited the Asean Digital Economy Framework Agreement (DEFA), whose negotiations concluded earlier this year. The agreement is targeted for signing in November and is expected to facilitate cross-border digital transactions and widen opportunities for micro, small and medium enterprises across Southeast Asia. The Autumn Economic Forum is an annual dialogue organized by the People’s Committee of Ho Chi Minh City.
HE Department of Justice (DOJ) has declared that the President and the Department of Energy (DOE) may issue executive orders (EOs) and department circulars (DCs) allowing third-party entities to be involved in the financing and construction of transmission assets despite the government’s existing concession agreement with the Sy-led National Grid Corp. of the Philippines (NGCP). In a seven-page legal opinion, DOJ Secretary Fredderick Vida stressed that the NGCP cannot invoke its existing concession agreement executed with the Power Sector Assets and Liabilities Management Corporation (PSALM) and National Transmission Corporation (TransCo) to prevent the DOE from allowing the participation of third parties to supplement the NGCP’s performance, especially when it affects national energy security. The concession agreement which took effect in 2009 and ends in 2034 allows NGCP to manage and operate the country’s power transmission network. However, based on the data available to the DOE and the regular Transmission Project Status Report (TPSR) submitted by the NGCP, the latter lags in the timely completion of numerous transmission projects. “The draft EOs and DCs allowing third party participation in the financing and construction of transmission projects are policy instruments to address delays in the timely completion of numerous transmission projects, while the Concession Agreement remains valid and subsisting subject to the DOE’s oversight,” the DOJ said. “The DOE retains regulatory and policymaking authority over the NGCP, even if there is a Concession Agreement in place, in view of its broader mandate to ensure the quality, reliability, security and affordability of the supply of electric power, including the reliable, secure and timely transmission development, under the EPIRA [Electric Power Industry Reform Act],” it added. The DOJ issued the legal opinion upon the request of Energy Secretary Sharon Garin. In her letter-request, Garin sought the DOJ’s legal position on whether the President and the DOE secretary are authorized, under the current legal framework, to issue EOs and DCs allowing third parties to be involved in the financing and construction of transmission assets. Garin was referring to draft EO No. 1 (Providing for the Timely Integration of Power Projects
Critical to the Country’s Energy Transition), which intends the establishment of regulatory mechanisms, protocols and requirements in the advanced construction of transmission projects for Generation Companies (GenCOs) or Distribution Utilities (DUs); and draft EO No. 2 (Providing for Timely Implementation of Transmission Lines and Facilities Critical to the Country’s Energy Transition) which aims to provide the whole-of-government approach in the expedited implementation and completion of priority projects of Transco. The energy secretary also cited two DOE draft circulars providing for a detailed framework for the participation of GenCos in the financing, construction and completion of transmission projects, as well as the framework for TransCO to complete and implement priority projects. Garin said the draft EOs and circulars could fast-track the construction, installation and completion of all transmission projects and lessen or remove the lost opportunity cost and the economic losses due to delays in the transmission projects. In response, the DOJ held that under the existing legal framework, both the President and DOE Secretary are allowed by the Constitution and relevant laws to issue the said EOs and DCs, respectively. The DOJ noted that under Section 17. Article VII of the 1987 Constitution, the President has the power of control over all executive departments, bureaus and offices, and to ensure the faithful execution of laws. Thus, the DOJ stated, the President can direct the Executive departments such as the DOE, through an EO, to establish regulatory mechanisms and requirements for the construction of transmission projects. “The issuance of the subject draft EOs align with the declared policy of the State to ensure and accelerate that total electrification of the country; to ensure the quality, reliability, security and affordability of the supply of electric power; and to assure socially and environmentally compatible energy sources and infrastructure under the Epira...,” the DOJ stressed. On the other hand, the DOJ said the DOE has been granted quasi-legislative or rule-making authority by Section 37 of the Epira, which mandates it to “formulate such rules and regulations as may be necessary to implement the objectives of this Act.” “In the exercise of this authority, the DOE can validly issue the subject DCs providing a See “NGCP ,” A2
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Rising to Next-Gen Challenges
BusinessMirror
Editor: Jennifer A. Ng
Thursday, October 29, 2026
B1
Handing over the baton: PHL’s next ‘SEC has completed generation of movers and shakers Asean deliverables
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By VG Cabuag
@villygc
IME is a relentless opponent, everyone’s ultimate competitor, and no one can beat it.
This holds for everyone, especially for family-owned businesses—even those that survived the Spanish colonial rule and two World Wars. Time will never be on anyone’s side, making it imperative for the country’s industry titans to decide who will carry on the family legacy.
A case in point is the Zobel de Ayala family, which owns the Philippines’— and probably Asia’s—oldest conglomerate, Ayala Corp., a company present in almost all aspects of a Filipino’s life. The family surname, Zobel, is still prominent on the board of the conglomerate and its subsidiaries.
In recent years, the family has promoted its eighth-generation members to management roles in some listed companies. This signals their potential to become the next generation of family leaders. The initial public offering of Mynt Inc., the operator of GCash, was at-
tended by members of the Zobel family, including Jaime Alfonso, 34, son of Ayala Chairman Jaime Augusto, and his sister, Mariana Beatriz, 37. “For those of us entrusted with carrying an organization into its next chapter, I don’t believe there has to be a choice between preserving what has worked and evolving to remain relevant. We have to do both,” Mariana said. “Ayala turns 200 in eight years, and we believe longevity isn’t inherited; it’s re-earned. What we stand for remains constant: building businesses that enable Filipinos to thrive,” she added. Continued on B3
for capital markets’
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HE Securities and Exchange Com m i s s ion (SEC ) on Wednesday said it has completed its Priority Economic Deliverables on Sustainable and Resilient Asean Capital Markets under the country’s 2026 ASEAN chairmanship. The deliverables of the SEC encompass measures to improve the credibility and accessibility of sustainable finance, promote wider participation in corporate governance initiatives and strengthen coopera-
tion among Asean capital market regulators. The Asean Code of Conduct for External Review Providers establishes common standards for providers assessing sustainable finance products. “By promoting greater consistency and recognition across Asean, the Code aims to reduce verification costs for Asean-labeled thematic bonds, capacitate local review providers, and strengthen investor confidence in sustainable finance.” VG Cabuag
B2
Companies BusinessMirror
Thursday, October 29, 2026
Meralco confident of hitting target profit for 2026—exec
T
By Lenie Lectura
@llectura
HE Manila Electric Co. (Meralco) is on track to achieving its full-year profit target of P56 billion after it recorded a net income of P44.7 billion in January to September, up 21 percent from the same period a year ago. “For full-year 2026, we are on track to achieve a consolidated core net income of approximately P56.6 billion, barring any significant unforeseen developments,” Meralco Chairman and CEO Manuel V. Pangilinan said. Core profit reached P44.8 billion in nine months ending September 30, an increase of 12 percent from last year’s P40 billion. Of which, the distribution business accounted for 45 percent or P20.1 billion; power generation, 41 percent or P18.2 bil-
lion; and the retail electricity supply (RES) business and non-electricity businesses covered the remaining 14 percent or P6.5 billion. “While global uncertainties continue to put pressure on fuel supply and prices, Meralco’s diversified portfolio continues to give us greater strength and flexibility to navigate the challenges. We are realizing gains from investments made in previous years, particularly through MGen [Meralco PowerGen] that has been
steadily increasing its earnings contribution, and the strategic integration an continued expansion of the RES business.” At end-September, Meralco customers grew to 8.4 million, up 2 percent from 8.2 million a year earlier. Energy sales rose to 41,054 gigawatt hours (gWh), as stronger demand in the second and third quarters offset softer consumption in the first quarter. From January to September this year, Meralco had completed 11 capital expenditure (capex) projects. “We continue to invest in smart metering and network modernization to deliver safe, stable, and reliable service while meeting our customers’ evolving energy needs,” said Meralco executive vice president and chief operating officer Ronnie Aperocho. Pangilinan said Meralco will continue to pursue investments that address today’s requirements while positioning out businesses for long-term growth. “The ERC’s [Energy Regulatory Commission] approval of our long-delayed rate reset
marks an important milestone, providing greater regulatory certainty to advance critical investments in network reliability, modernization, and digitization,” added Pangilinan. Meralco received last month the ERC’s decision on its application for the Annual Revenue Requirement and Performance Incentive Scheme for the first regulatory period (1RP) covering July 1, 2026 to June 30, 2030. The decision approved an average distribution tariff of P1.50 per kWh, marking the completion of Meralco’s long-delayed rate reset process after more than 11 years and providing greater regulatory certainty to advance and support critical, long-term investments in network reliability, modernization, and digitalization. Meanwhile, Meralco continued to strengthen its long-term supply position through competitive sourcing activities. It secured winning bids for its 600-MW baseload requirement at competitive rates and will submit the resulting 15-year power supply agreement (PSA) to the ERC for approval.
PSE acquires DBP’s stake in PDS T
HE Philippine Stock Exchange Inc. (PSE) has signed an agreement with stateowned Development Bank of the Philippines (DBP) for the acquisition of the state-owned bank’s stake in Philippine Dealing System Holdings Corp. (PDS). DBP owns 192,776 shares in PDS, or about 3.08 percent of the firm. The PSE bought the shares for
P600 apiece or for P115.66 million. The PDS is a holding company formed for the purpose of investing in or holding shares of stock in exchange as well as in one or more corporations which provides depository, registry, clearing, settlement, custody, securities borrowing and lending, information technology and other support services for the exchanges. It owns and operates the
bond market trading platform Philippine Dealing and Exchange Corp. The deal increases PSE’s stake in PDS to 76.74 percent. The transaction is part of the bourse’s plan to acquire all of PDS and merge it with the PSE, meant to align the Philippine capital market with other markets globally which have a single exchange structure for fixed income and equities.
“The transaction results in a vertical integration of the depository function within the same group that operates trading, clearing and settlement of listed securities,” the PSE said. The merger plans were also meant to achieve a more efficient integrated market surveillance and monitoring for both equities and fixed income markets for investor protection, the PSE said. VG Cabuag
GSK slumps after Q3 report shows vaccine sales falling
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SK Plc’s third-quar ter prof it re por t showe d slumping vaccine sales, causing the biggest share plunge since April. The stock fell as much as 5.4 percent in early London trading, the most in six months. The UK drugmaker’s report of a 3-percent operating profit gain was driven by legacy products like the asthma drug Advair and showed falling demand for the blockbuster shingles shot Shingrix. The unexpectedly weak vaccines performance “raises questions over the growth outlook for
Shingrix and Arexvy,” Bloomberg Intelligence’s John Murphy said in a note. Arexvy is GSK’s shot for the potentially deadly virus RSV. Chief Executive Officer Luke Miels is shifting the focus to areas like oncology with high potential. But GSK has few new medicines launching soon, and the report raised concer n about grow th ahead, especially if vaccines—usually a reliable contributor—falter. The division’s revenue fell 4 percent last quarter, weighed down by declining demand for Shingrix in China. Arexvy plunged amid lower US sales. Bloomberg News
www.businessmirror.com.ph
PSE STOCK QUOTATIONS
October 28, 2026
Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell) FINANCIALS
ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL GCASH MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE
43.25 117.1 10.02 93.95 48 12.48 9.63 60.75 6.81 14.66 83.7 49.7 20 62.55 20.8 0.485 1.17 6.71 0.098 2,652 1.22 205.2 4,900 1.24
43.3 117.9 10.18 94 48.4 13.68 9.85 60.9 7.01 14.68 83.9 49.9 20.45 62.9 20.95 0.5 1.18 6.72 0.101 2,700 1.23 207.8 5,000 1.28
43.25 116.2 10.22 96.8 49 12.94 9.79 61.45 6.98 14.66 80 50.4 20.5 61.5 20.8 0.485 1.2 6.63 0.098 2,700 1.23 208.6 5,000 1.28
43.3 118.3 10.22 96.8 49 12.96 9.89 61.45 6.98 14.66 83.9 50.4 20.5 62.95 21 0.495 1.2 6.79 0.098 2,700 1.24 208.6 5,000 1.28
43.25 116 10.2 93.2 47.85 12.94 9.53 60.5 6.98 14.66 80 49.7 20 61.5 20.8 0.485 1.18 6.63 0.098 2,700 1.21 205 5,000 1.28
43.25 117.1 10.2 94 48 12.96 9.63 60.75 6.98 14.66 83.9 49.7 20 62.55 20.95 0.495 1.18 6.72 0.098 2,700 1.22 205.2 5,000 1.28
19,200 11,688,060 700 5,211,690 195,400 800 218,500 1,368,880 100 100 832,480 890 29,700 235,770 21,300 130,000 55,000 80,998,500 10,000 55 345,000 5,050 10 7,000
830,760 1,379,516,663 7,142 489,743,823 9,402,840 10,366 2,104,485 83,088,133 698 1,466 68,731,898 44,560 596,550 14,649,128 446,350 63,350 64,960 542,445,369 980 148,500 422,750 1,035,360 50,000 8,960
4,325 36,897,960 -263,482,111 3,441,295 -1,294 1,284,372 -25,988,017 -698 30,712,590 -9,000 -2,830,237 -4,195 -100 1,180 176,560,370 81,000 -48,800 1,027,050 -
INDUSTRIAL
ACEN CORP 2.68 2.7 2.7 ALSONS CONS 0.89 0.9 0.94 0.61 0.63 ALTERNERGY HLDG 0.64 ABOITIZ POWER 45.75 46.05 45.2 1.1 1.14 1.12 RASLAG BASIC ENERGY 0.105 0.103 0.105 4.31 4.44 4.51 CITICORE RE FIRST GEN 19.54 19.56 19.7 83.7 84.95 85.9 FIRST PHIL HLDG MERALCO 428 429.8 437 30.9 31.35 31.8 MANILA WATER MAYNILAD 17.38 17.4 17.5 2.2 2.19 PETRON 2.21 PETROENERGY 4.65 4.46 4.55 16.2 16.3 16.3 PRYCE CORP REPOWER ENERGY 9.7 9.5 9.7 10.66 10.7 10.52 SEMIRARA MINING SYNERGY GRID 25.65 26 25.95 7.7 7.81 7.8 SHELL PILIPINAS SPC POWER 8.76 9 8.75 1.38 1.39 1.28 SP NEW ENERGY TOP LINE 1.7 1.69 1.68 2.72 2.79 2.79 AXELUM BALAI FRUITAS 0.31 0.29 0.305 8.66 9.14 8.66 CNTRL AZUCARERA CENTURY FOOD 28.3 28.55 29.35 DEL MONTE 3.4 3.5 3.52 3.38 3.39 DNL INDUS 3.39 EMPERADOR 15.26 15.14 15.12 44.6 45.5 44.8 SMC FOODANDBEV FIGARO GROUP 0.79 0.78 0.79 0.63 0.64 0.74 ALLIANCE SELECT FRUITAS HLDG 0.65 0.66 0.64 217.6 218 220 GINEBRA JOLLIBEE 143 144 144.1 1.88 1.87 KEEPERS HLDG 1.89 MAXS GROUP 1.91 1.92 1.9 0.07 0.072 MG HLDG 0.072 MONDE NISSIN 5.89 5.9 5.84 5.23 5.25 5.19 SHAKEYS PIZZA ROXAS AND CO 2.43 2.48 2.4 5.35 5.36 5.39 RFM CORP UNIV ROBINA 58.6 58.95 58.25 0.475 0.475 VITARICH 0.49 ATN HLDG 0.405 0.395 0.405 52.15 52.1 56 CONCRETE CONCREAT HLDG 1.1 1.12 1.1 1.82 1.83 1.84 EEI CORP MEGAWIDE 5.28 5.24 5.27 14.28 14.52 14.52 PHINMA SUPERCITY 28.55 30.35 30.3 CROWN ASIA 1.88 1.9 1.88 1.23 1.18 1.27 EUROMED CONCEPCION 10.78 10.72 10.72 0.13 0.133 0.133 GREENERGY INTEGRATED MICR 5.58 5.6 5.72 2.92 2.95 2.95 IONICS CIRTEK HLDG 1.35 1.36 1.42 1.81 1.85 STENIEL 1.85
2.75 0.94 0.64 46.05 1.14 0.105 4.51 19.7 85.9 437 31.8 17.58 2.21 4.65 16.32 9.7 10.96 26.2 7.85 9.03 1.39 1.7 2.82 0.31 8.66 29.35 3.52 3.39 15.26 44.8 0.79 0.74 0.65 220 144.1 1.89 1.91 0.072 5.98 5.23 2.48 5.39 59.8 0.49 0.405 56 1.11 1.84 5.3 14.52 30.3 1.88 1.27 11.02 0.133 5.78 3.01 1.5 1.85
2.66 0.87 0.61 45.2 1.12 0.104 4.44 19.5 81.95 426.2 30.6 17.1 2.19 4.54 16.3 9.7 10.52 24.9 7.7 8.75 1.27 1.68 2.71 0.305 8.66 27.9 3.5 3.35 15.1 44.5 0.78 0.63 0.64 216 141.2 1.87 1.9 0.07 5.74 5.19 2.4 5.34 57.5 0.475 0.395 52.1 1.1 1.82 5.2 14.52 29 1.88 1.18 10.72 0.133 5.55 2.92 1.35 1.85
2.68 0.9 0.64 46.05 1.14 0.105 4.44 19.54 83.7 429.8 30.9 17.38 2.2 4.65 16.3 9.7 10.66 26 7.7 9 1.39 1.69 2.8 0.31 8.66 28.55 3.5 3.38 15.26 44.6 0.78 0.64 0.65 217.6 144 1.88 1.91 0.07 5.9 5.23 2.48 5.35 58.95 0.48 0.395 56 1.1 1.84 5.28 14.52 29 1.88 1.27 10.78 0.133 5.6 2.92 1.36 1.85
6,277,000 8,180,000 776,000 838,100 93,000 110,000 14,000 116,700 48,660 369,140 840,700 1,673,700 297,000 202,000 61,000 1,100 1,434,300 2,791,400 446,800 16,900 74,572,000 280,000 27,000 40,000 100 815,900 7,000 769,000 2,019,500 69,900 862,000 2,229,000 66,000 35,850 372,600 834,000 25,000 360,000 16,840,400 15,400 5,000 162,000 2,166,130 40,000 700,000 20 178,000 20,000 488,300 200 200 2,000 196,000 9,000 130,000 1,564,200 1,900,000 12,431,000 34,000
16,925,250 7,354,320 481,870 38,496,090 104,850 11,460 62,350 2,279,748 4,105,257 158,470,538 26,080,240 28,998,052 651,530 921,620 994,552 10,670 15,302,284 72,127,300 3,451,446 149,068 100,109,360 474,470 75,150 12,350 866 23,198,245 24,560 2,585,350 30,590,442 3,122,840 672,520 1,482,140 42,650 7,800,752 53,204,360 1,567,990 47,540 25,230 99,105,083 79,969 12,080 868,718 128,007,142 19,300 278,000 1,081 195,860 36,570 2,567,347 2,904 5,930 3,760 243,370 97,258 17,290 8,842,219 5,623,890 17,515,050 62,900
-6,917,750 863,520 29,140 -9,902,010 -9,000 -42,128 17,671 -15,023,694 -10,603,085 -4,352,182 66,000 -50,530 -425,384 -11,356,695 -1,690,621 19,231,450 -1,114,485 -10,500 -873,770 -475,274 -647,880 -22,750 2,443,508 -5,242,679 1,545,360 -3,800 -1,131,138 19,240 9,600 -275,662 81,252,066 -1,820 107,037 -3,030 -10,000 -260,572 -108,230 749,380 11,100
HOLDING & FRIMS
ABACORE CAPITAL 0.29 0.295 0.29 0.295 0.29 0.295 350,000 102,050 -2,950 ASIABEST GROUP 22.3 23 24 24.65 21.5 23 732,900 16,480,695 -4,298,875 538.5 531 527 540 467,850 250,369,630 -53,343,160 AYALA CORP 540 546 ABOITIZ EQUITY 39.55 39.9 40.4 40.4 39.2 39.9 793,600 31,471,840 -1,604,885 8.78 8.9 8.99 8.99 8.74 8.78 1,185,900 10,407,547 954,099 ALLIANCE GLOBAL ANSCOR 16.28 15.86 16.02 16.02 15.86 15.86 10,600 168,978 0.99 1.01 0.98 1.04 0.98 1.01 285,000 287,480 -8,190 ANGLO PHIL HLDG COSCO CAPITAL 7.32 7.39 7.39 7.4 7.32 7.39 22,865,200 168,973,009 -1,598,196 6.4 6.42 6.59 6.65 6.14 6.4 14,751,600 93,999,403 2,801,117 DMCI HLDG FILINVEST DEV 3.81 3.89 3.81 3.81 3.81 3.81 1,000 3,810 425 426 430 430 421.6 425 43,910 18,659,490 6,499,738 GT CAPITAL HOUSE OF INV 4.84 4.98 4.98 4.98 4.98 4.98 2,000 9,960 16.6 16.64 16.96 16.96 16.54 16.6 553,000 9,184,318 -2,088,578 JG SUMMIT LODESTAR 0.48 0.45 0.47 0.48 0.47 0.47 350,000 165,850 -14,400 4.41 4.58 4.46 4.46 4.42 4.45 24,000 106,770 49,000 LOPEZ HLDG LT GROUP 15 15.02 15.28 15.28 14.94 15 1,696,500 25,446,984 -16,917,354 2.47 2.5 2.47 2.84 2.45 2.5 266,000 686,240 PACIFICA HLDG PRIME MEDIA 0.82 0.89 0.85 0.85 0.82 0.82 81,000 67,430 1.1 1.11 1.1 1.14 1.1 1.11 78,000 87,370 12,300 SOLID GROUP SM INVESTMENTS 534 543 525 543 523 534 205,050 108,806,825 4,349,685 65.95 66 66 66.05 65.5 66 230,040 15,169,469 12,601,987 SAN MIGUEL CORP TOP FRONTIER 54 54 53.05 52.85 52.85 53.05 750 40,027 -538 0.069 0.072 0.069 0.069 0.069 0.069 10,000 690 ZEUS HLDG PROPERTY AYALA LAND 15.2 15.24 15.2 15.38 15.12 15.2 5,646,200 85,895,080 -25,258,242 AYALA LAND LOG 1.06 1.07 1.08 1.09 1.06 1.07 80,000 86,270 2,140 36 36.05 36.2 36.4 35.95 36.05 393,600 14,184,195 -1,019,340 AREIT RT A BROWN 0.76 0.78 0.79 0.79 0.78 0.78 41,000 32,190 0.53 0.55 0.54 0.54 56,000 30,260 0.55 0.55 CITYLAND DEVT CROWN EQUITIES 0.088 0.089 0.088 0.088 0.088 0.088 1,010,000 88,880 -71,280 1.93 1.94 1.91 1.95 148,000 285,240 -6,090 CEB LANDMASTERS 1.95 1.95 CENTURY PROP 0.63 0.63 0.61 0.63 0.62 0.63 1,068,000 667,340 -12,400 2.77 2.78 2.79 2.79 2.77 2.78 1,138,000 3,163,170 -1,472,860 CITICORE RT DOUBLEDRAGON 11.68 11.66 11.66 11.62 11.6 11.66 263,500 3,066,388 -32,536 1.02 1.03 1.03 1.04 1.02 1.03 1,472,000 1,509,500 DDMP RT DM WENCESLAO 4.7 4.75 4.7 4.7 4.7 4.7 6,000 28,200 0.024 0.026 0.026 0.026 0.026 0.026 200,000 5,200 EVERWOODS EMPIRE EAST 0.1 0.101 0.1 0.1 0.1 0.1 670,000 67,000 2.87 2.9 2.9 2.9 2.86 2.9 47,000 135,310 -5,730 FILINVEST RT FILINVEST LAND 0.7 0.7 0.69 0.69 0.69 0.69 201,000 138,720 -4,830 0.62 0.66 0.62 0.62 0.62 0.62 99,000 61,380 GLOBAL ESTATE KEPPEL PROP 2.41 2.53 2.48 2.48 2.36 2.36 30,000 73,690 1.2 1.21 1.19 1.2 79,197,000 94,933,570 2,367,990 1.21 1.21 PNB HLDG MEGAWORLD 2.28 2.27 2.3 2.31 2.27 2.28 10,394,000 23,751,660 -17,636,930 0.61 0.62 0.6 0.63 0.6 0.62 1,085,000 670,390 152,500 MRC ALLIED MREIT RT 13.56 13.66 13.62 13.7 13.56 13.56 3,806,300 52,113,608 -964,240 0.101 0.106 0.106 0.106 60,000 6,360 OMICO CORP 0.106 0.106 PRMIERE HORIZON 0.16 0.163 0.159 0.16 0.159 0.16 2,180,000 347,550 -19,080 0.91 0.92 0.91 0.92 39,000 35,720 4,550 PREMIERE RT 0.92 0.92 RL COMM RT 6 6.02 6.04 6.05 6 6 6,797,800 40,862,330 -16,144,507 ROBINSONS LAND 15.8 16.02 16.04 16.22 15.78 15.8 2,165,500 34,666,324 2,516,148 0.106 0.11 0.105 0.105 0.105 0.105 90,000 9,450 PHIL REALTY ROCKWELL 2.54 2.53 2.65 2.65 2.54 2.54 158,000 403,560 -93,980 2.87 2.9 2.84 2.9 2.83 2.9 12,000 34,400 2,830 SHANG PROP STA LUCIA LAND 1.68 1.73 1.73 1.73 1.68 1.68 14,000 23,570 17.38 17.54 17.54 17.54 17.14 17.54 6,323,300 109,981,442 36,767,122 SM PRIME HLDG SERVICES ABS CBN 2.47 2.5 2.47 2.53 2.47 2.47 102,000 254,440 GMA NETWORK 3.35 3.35 3.27 3.34 3.26 3.35 115,000 382,010 0.156 0.16 0.161 0.161 0.161 0.161 30,000 4,830 MANILA BULLETIN DITO CME HLDG 0.55 0.56 0.56 0.56 0.54 0.56 10,820,000 5,952,510 -154,380 1,529 1,537 1,540 1,540 1,520 1,537 20,560 31,429,335 -13,277,405 GLOBE TELECOM PLDT 1,126 1,130 1,157 1,161 1,125 1,126 49,695 56,361,375 -18,310,355 0.0048 0.0048 0.0047 0.0049 185,000,000 890,000 -221,900 APOLLO GLOBAL 0.0049 0.0049 CONVERGE 24,871,554 9.26 9.35 9.5 9.5 9.17 9.26 2,697,500 -2,378,040 0.86 0.97 0.97 0.97 0.97 0.97 1,000 970 IMPERIAL ISLAND INFO 0.133 0.133 0.13 0.133 0.133 0.133 20,000 2,660 0.375 0.375 0.375 0.38 130,000 49,050 0.38 0.38 NOW CORP TRANSPACIFIC BR 0.119 0.119 0.118 0.119 0.118 0.118 1,460,000 173,200 0.98 1 1 0.98 0.98 156,000 153,920 1.01 CHELSEA CEBU AIR 24.25 24.75 24.4 24.75 23.55 24.75 288,200 6,981,245 -261,635 820 829 833 842 818 820 2,154,930 1,785,755,020 -454,105,735 INTL CONTAINER LBC EXPRESS 10.18 10.46 10.18 10.18 10.18 10.18 500 5,090 3.27 3.3 3.3 3.3 3.27 3.28 8,000 26,210 13,080 MACROASIA METRO ALLIANCE 0.53 0.58 0.59 0.59 0.59 0.59 2,000 1,180 3.89 4.04 3.77 4.05 1,236,000 4,983,500 150,690 4.05 4.05 PAL HLDG HARBOR STAR 1.7 1.7 1.69 1.54 1.54 1.7 3,645,000 5,967,620 19,520 0.029 0.029 0.029 0.03 54,600,000 1,586,500 2,900 BOULEVARD HLDG 0.03 0.03 DISCOVERY WORLD 0.89 1.03 0.88 1.02 0.88 1.02 2,000 1,900 -140 0.395 0.4 0.4 0.4 0.38 0.4 8,570,000 3,367,950 266,500 PH RESORTS GRP WATERFRONT 0.46 0.46 0.455 0.44 0.44 0.46 460,000 207,000 -8,800 12.5 12.94 13 13 12.38 12.38 4,600 58,450 CENTRO ESCOLAR FAR EASTERN U 751 789.5 789 789 789 789 10 7,890 IPEOPLE 7.12 7.12 7 7.12 7.12 7.12 200 1,424 1.19 1.22 1.24 1.24 1.2 1.22 677,000 817,470 483,430 STI HLDG BELLE CORP 1.03 1.05 1.04 1.04 1.03 1.03 218,000 226,200 1.87 1.84 1.9 1.8 1.87 7,200,000 13,231,380 -109,040 1.88 BLOOMBERRY PACIFIC ONLINE 1.58 1.66 1.59 1.59 1.58 1.58 2,000 3,170 6.85 6.9 6.99 7.08 6.56 6.9 4,859,100 14,340,229 33,343,658 DIGIPLUS PHILWEB 13.88 13.82 14.12 14.2 13.64 13.88 2,618,400 36,192,922 -10,061,354 7.26 7.26 7.95 7.26 7.95 200 1,521 -795 BERJAYA 7.96 METRO RETAIL 1.05 1.05 1.02 1.02 1.02 1.05 2,000 2,070 40 40.1 40.7 40.7 39.8 40 238,400 9,538,455 -3,188,535 PUREGOLD PHIL SEVEN CORP 30.9 31.95 31.95 31.95 31.95 31.95 2,200 70,290 -12,780 1.93 1.99 1.97 1.97 1.95 1.95 64,000 125,060 -27,560 SSI GROUP UPSON INTL CORP 0.75 0.78 0.78 0.78 0.78 0.78 14,000 10,920 7,800 5.19 5.2 5.18 5.25 5.18 5.2 1,360,700 7,076,925 -805,824 WILCON DEPOT MEDILINES 0.231 0.24 0.241 0.241 0.24 0.24 70,000 16,830 3 3.13 3.13 3 3.02 166,000 507,970 28,260 3.14 PAXYS PHILCOMSAT 1.64 1.62 1.62 1.62 1.62 1.62 7,000 11,340 2.96 3.03 2.98 2.98 2.98 2.98 4,000 11,920 SBS PHIL CORP MINING & OIL APEX MINING 16.46 16.48 16.5 16.66 16.14 16.46 2,983,800 48,788,742 2,246,104 18.66 18.68 18.7 19 18.54 18.68 2,657,800 50,027,764 2,023,238 ATLAS MINING BENGUET 6.08 6.07 6.2 6.2 6.08 6.08 27,900 169,668 1.83 1.88 1.85 1.9 70,000 131,100 125,500 1.9 1.9 CENTURY PEAK EC VULCAN 0.315 0.315 0.3 0.315 0.315 0.315 10,000 3,150 1.56 1.61 1.61 1.54 1.59 1,841,000 2,930,940 65,420 1.59 FERRONICKEL GEOGRACE 0.079 0.079 0.077 0.078 0.077 0.079 230,000 18,090 0.216 0.217 0.215 0.219 0.214 0.217 2,310,000 500,690 LEPANTO A LEPANTO B 0.217 0.217 0.215 0.217 0.217 0.217 100,000 21,700 6,510 0.0083 0.0084 0.0085 0.0085 0.0083 0.0083 55,000,000 466,500 MANILA MINING A MARCVENTURES 0.75 0.74 0.76 0.76 0.74 0.75 618,000 460,930 0.52 0.55 0.55 0.52 0.53 130,000 67,810 0.53 NIHAO NICKEL ASIA 3.81 3.83 3.82 3.82 3.8 3.81 1,025,000 3,897,380 -2,485,590 33.5 33.5 34 33.5 33.5 268,200 9,002,745 -2,782,520 OCEANAGOLD 33.6 ORNTL PENINSULA 0.53 0.54 0.55 0.55 0.53 0.54 161,000 85,970 10.12 10.18 10.06 10.32 10.06 10.12 12,308,000 124,759,214 -63,927,786 PX MINING UNITED PARAGON 0.009 0.0093 0.0091 0.0091 0.009 0.009 51,000,000 459,200 3.19 3.47 3.24 3.24 3.24 3.24 2,000 6,480 ENEX ENERGY ORNTL PETROL A 0.015 0.016 0.016 0.016 0.015 0.015 8,400,000 129,400 0.014 0.015 0.015 0.015 0.014 0.014 1,800,000 26,800 ORNTL PETROL B PHILODRILL 0.01 0.011 0.01 0.01 0.01 0.01 11,500,000 115,000 2.95 3 3.06 3.06 2.95 3 102,000 307,540 PXP ENERGY PREFFERED ACEN PREF B 1,027 1,029 1,027 1,030 1,025 1,030 200 205,620 AC PREF AR 2,422 2,486 2,420 2,420 2,420 2,420 400 968,000 1,863 1,929 1,910 1,910 1,860 1,860 4,225 7,872,855 -7,825,105 AC PREF B3R AC PREF B4R 1,901 1,910 1,901 1,910 1,901 1,910 45 85,725 485 495 495 495 495 495 20 9,900 ALCO PREF F ALCO PREF G 490.2 502.5 502.5 502.5 502.5 502.5 240 120,600 510 512.5 513 513 513 513 20 10,260 ALCO PREF H BRN PREF C 101.5 103.5 103.5 103.5 103.5 103.5 70 7,245 28 29.8 27 30 27 29.85 66,300 1,955,035 -24,300 CEB PREF CLI PREF A1 940 969 950 950 950 950 40 38,000 976 992 976 976 976 976 50 48,800 CLI PREF A2 DD PREF 89.3 89.45 89.5 89.5 89.3 89.3 7,280 651,111 1,860 1,934 1,856 1,860 1,856 1,860 10 18,580 GLO PREF ANV MWIDE PREF 6B 98.5 99 99 99 99 99 4,000 396,000 -396,000 99 100.8 100.8 100.8 100.8 100.8 210 21,168 MWIDE PREF 7A MWIDE PREF 7B 99.7 102 102 102 99.7 102 130 13,237 971.5 993 990 990 990 990 140 138,600 PCOR PREF 4A PCOR PREF 4B 962.5 991.5 991.5 992 991.5 992 1,000 991,995 991,995 962 986 961 986 961 986 2,310 2,268,300 1,970,390 PCOR PREF 4D PCOR PREF 4E 980 985 980 980 980 980 410 401,800 78.25 79.5 79.8 79.8 79.8 79.8 20 1,596 SMC PREF 2L SMC PREF 2N 74.7 77.4 75.8 75.8 74.5 74.5 20,000 1,497,992 77.5 77.8 77.8 77.8 77 77.8 21,220 1,644,561 -857,225 SMC PREF 2O SMC PREF 2R 74.8 75 75 75 75 75 180 13,500 73.6 75.3 75.3 75.3 75.3 75.3 300 22,590 SMC PREF 2T SMC PREF 2V 76 76.8 76.8 76.8 76 76 820 62,576 SMC PREF 2W 76 77 77 77 76 76 3,470 264,690 78.2 78.8 78.8 78.8 78 78.2 330 25,898 SMC PREF 2X TECH PREF B2C 8.41 9 9 9 9 9 200 1,800 7.13 7.4 7.42 7.42 7.4 7.4 1,000 7,406 TECH PREF B2D TOP PREF A1 99.9 100.9 99.9 99.9 99.9 99.9 20 1,998 100.7 101 101 101 101 101 40 4,040 TOP PREF A2
PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR
WARRANTS
AGI WARRANT
2.25 2.62 3.21 3.44 3.2 3.2 3.2 3.2 1,000 3,200
-
1.05
SM A L L, M ED I U M & EM E R G IN G
HAUS TALK ITALPINAS XURPAS NEXGEN ENERGY
1.34 0.57 0.228 2.54
1.09
1.05
1.05
1.05
1.05
302,000
317,100
-
1.4 0.58 0.232 2.59
1.34 0.57 0.232 2.59
1.4 0.57 0.232 2.59
1.34 0.56 0.227 2.58
1.4 0.57 0.227 2.59
152,000 112,000 520,000 20,000
210,460 63,790 118,100 51,650
2,580
EXHANGE TRADE FUNDS ATR FAMI ETF
97.2
97.3
97.1 97.3 97.1 97.3 600 58,301 4,855
Editor: Jennifer A. Ng
World Companies BusinessMirror
BASF raises outlook again as war in Middle East lifts prices
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ASF SE raised its full-year outlook for a second time this year after higher prices and volumes boosted earnings as disruptions caused by the war in the Middle East hit competitors. The German company now expects Ebitda before special items of at least €7.4 billion ($8.2 billion), it said Wednesday. The previous target was at least €6.9 billion. During the third quarter, earnings jumped to €1.64 billion, beating expectations, with all core businesses contributing to the gains, the Ludwigshafen-based company said. BASF draws inputs for its products like adhesives and clean-
ing ingredients primarily from Europe and North Africa, leaving it less exposed to faltering supply from the Middle East. The disruptions have hit Asian chemical producers particularly hard because of their reliance on feedstocks shipped from the region. That allowed BASF to raise prices for some products, while overall prices increased about 12 percent and volumes rose 2 percent,
helped by the ramp-up of its new Zhanjiang site in China. The earnings beat “appears to have been driven mainly by pricing,” Citigroup analyst Sebastian Satz said in a note. The higher guidance was positive, though weakness in standalone businesses and cash flow may remain concerns for investors, he added. Agricultural Solutions, which makes fertilizers, was the main weak spot. Sales declined by a fifth and the unit swung to a loss after weaker volumes combined with lower prices in South America. That’s ahead of BASF preparing the business for a potential Frankfurt listing with a goal of being ready for this step in mid-2027. While BASF reported a stronger quarter, structural pressures for Europe’s chemicals industry remain bleak. Weak demand and glob-
al oversupply have pushed BASF to close plants and cut about 8,600 positions since January 2024. It also sold assets, including a majority stake in its coatings business to Carlyle Group Inc. this June. Those asset sales and a 20-percent reduction in net debt over the past year have strengthened BASF’s balance sheet, giving it more room to pursue a takeover of rival Evonik Industries AG. BASF last week raised its offer to more than €11 billion. Buy i ng Evon i k wou ld add higher-margin segments including additives, adhesive resins and high-performance polymers. BASF Chief Executive Officer Markus Kamieth has argued that a combination would help create a stronger global player that can weather the competition from China. Bloomberg News
Handing over the baton: PHL’s next generation of movers and shakers Continued from B1
Hitting the trail
MANY of the conglomerates have now allowed the next generation of leaders to join the company’s leadership or management. For the Sy family, which owns large businesses such as SM shopping malls and the country’s largest lender, BDO Unibank Inc., the third generation is already underway. Jessica Bianca T. Sy, daughter of SM Prime Holdings Inc. chairman Henry T. Sy Jr., is now the company’s vice president and head of design, innovation, and strategy for both SM Prime and condominium developer SM Development Corp. Chico Sy, son of SM Prime director Hans T. Sy, is now president of SM Engineering Design and Development Corp. Even big deals are now being handled by the third generation. Puerto Princesa Mayor Lucilo Bayron said the SM Group is investing heavily in the city, having acquired nearly all beachfront properties along the west coast, from Barangay Napsan to Simpocan. “Big Boy (Henry Sy Jr.) told me that his son Hank will close the deal. I don’t know how many hectares (of properties that SM is buying), but they are buying mostly the beachfront properties,” Bayron said. Aside from its mall in Puerto Princesa, the SM Group does not currently own a resort or a beach property in Palawan’s capital. Meanwhile, the new generation of Zobels injected more products into the company, bringing international brands into the Philippines. These include Australia’s Anko retail outlets, reviving the Makro warehouse brand; introducing UAE’s Spinneys premium supermarket; and taking in China’s BYD electric and hybrid vehicles. They also renovated many of the Ayala malls. In banking, meanwhile, Ana Maria Aboitiz-Delgado is now president and CEO of Union Bank of the Philippines. Representing the fifth generation of the Aboitiz family, she took over the post in January 2025, succeeding Edwin R. Bautista. Recently, Delgado made headlines for becoming the first female president of UnionBank, the country’s 10th largest lender.
sities and leading business schools worldwide. For instance, Mariana and Jaime Alfonso graduated from Harvard University and secured their respective MBAs in different schools, while Das Reyes studied in Canada. Delgado, meanwhile, holds a Bachelor of Arts in Art History/Painting from Boston College. She then earned her Master of Business Administration from New York University’s Stern School of Business in 2010. Many next-generation members do not necessarily choose to join the family business. “I started outside the company, at J.P. Morgan in New York. It was a great place to learn how large, well-run organizations work,” Mariana said. She said changing consumer preferences and the Philippines’ fastgrowing economy were what drew her back to her homeland. “Since joining Ayala, I’ve worked across corporate strategy, operations, and project development, and today I lead the leasing businesses at Ayala Land: Ayala Malls, Ayala Land Offices, and Ayala Land Hospitality. I also serve as a board director for Ayala Land, BPI, and Globe. The breadth of my experience across Ayala taught me how different industries work, and what each one can do for the country,” she said. She said every generation has to decide what it would stop accepting as “good enough.” “For me, that includes reimagining how we work, embracing technology and AI (artificial intelligence), and ensuring our people are equipped to adapt and succeed in a rapidly changing world,” she said.
Learning from the best
Standing on a solid foundation
CORPORATE leaders are often expected to have degrees from top-tier institutions, with many prominent families favoring Ivy League univer-
Thursday, October 29, 2026
Danone sales rise on higher prices, demand for medical nutrition
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ANONE SA sales climbed in the third quarter, driven by higher prices and persistent demand for its protein-rich yogurts and fortified drinks. Like-for-like sales rose 4 percent, the producer of Oikos Greek yogurt said in a statement Wednesday, above the 3.7 percent estimate of analysts in a Bloomberg survey. Increased pricing added 3.6 percent to sales growth — a bigger share than expected — while volume-mix contributed only 0.4 percent. The specialized nutrition unit showed the strongest jump in sales, topping estimates on strength in Asia and the Americas. Danone confirmed its guidance to increase likefor-like sales between 3 percent and 5 percent this year, with recurring operating income growing faster than sales. Chief Executive Officer Antoine de Saint-Affrique has led a turnaround in five years atop the company by shedding weaker businesses
TULSI DAS C. REYES, a third-generation member of the Consunji family that owns engineering conglomerate DMCI Holdings Inc., said the
company’s continued relevance more than 70 years after his grandfather founded it is no accident. “I think a lot of it comes down to how he treated people, approached challenges, and learned from experience,” Reyes said, referring to his grandfather David M. Consunji, who is also considered the father of the country’s construction industry. “The second generation built on those values, developed their own strengths, and adapted to new environments while preserving those core learnings. This eventually gave birth to DMCI Holdings, which expanded into different industries while maintaining our brand and culture,” he said. Reyes now serves as president and COO of DMCI Mining Corp., the conglomerate’s nickel mining subsidiary. He is the son of Jing C. Reyes, elder sister of current DMCI Chairman Isidro A. Consunji. Reyes sees his family name as a business advantage, particularly when it carries a strong reputation. “My grandfather and the people who worked with him built that over many years. When I tell people I’m from DMCI, there’s already a certain level of trust, and that’s something I have to maintain,” Reyes said. He, however, recognized the important role of professional managers, who have years of experience running their businesses, in growing the company. “They’ve gone through the challenges, they’ve made difficult decisions, and there’s a lot to learn from them,” he said. Reyes said he was fortunate to work closely with the DMCI chairman and learn from the group’s various management teams. “That exposure helped me understand the businesses and how to approach challenges,” he said. “So, I think we bring different things to the table. The family name
may open doors, but at the end of the day, you still have to prove yourself through your work and the way you deal with people.”
Sanguine about the future
WITH time is on their side, the next generation of leaders are optimistic about the country’s prospects and the opportunities ahead. Mariana said the Philippines is home to one of the most compelling global growth stories, supported by strong demographics and a young population. “These fundamentals give us every reason to continue building at home. Where we can bring Philippine expertise, products, and services to the region, we remain open to doing so. Ultimately, I hope that in 10 to 20 years, Ayala will be a group that has earned its next hundred years, not simply inherited them,” she said. For Reyes, who comes from a contracting background, the group understands the importance of delivering its commitments, caring for clients, and paying suppliers on time. He said these are the best things to do in these challenging times. “Nickel mining is essentially about moving earth efficiently—managing our equipment, controlling costs, and managing our margins even when markets are down,” Reyes said. “Our goal in the next 10 to 20 years is to bring this practice to become one of the leading Philippine Nickel mining companies, participate in nation-building by developing rural areas, and perhaps join the global market if we can participate in the downstream market of our business. “I believe we’re headed in the right direction because we have the right people and culture in place. Ultimately, we want to leave the nickel mining industry and the communities where we operate better for generations to come,” he said.
and expanding in areas like highprotein dairy offerings and food for cancer patients. The rise of weightloss drugs has spurred demand for protein-rich, gut-friendly products. Still, weakness in the US has weighed on sentiment. Danone has struggled to keep up with demand for its high-protein yogurts as it fights to take market share from US-based Chobani. Saint-Affrique installed a new US leadership team to turn around its struggling plantbased and creamer businesses. Danone shares are down 20 percent this year, trailing rival Nestle SA and on course for their worst annual performance since 2020. Earlier this year, Danone agreed to buy UK-based Huel, a maker of fortified protein powders and readyto-consume drinks and meals popular with gym-goers. It also acquired Australian dairy company Made Group to expand its offerings of coconut water and protein shakes in Asia. Bloomberg News
Mercedes readies major China overhaul as slump deepens
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EMERGING leaders. Mariana Zobel de Ayala, Executive Director, Ayala Corporation Director and Senior Vice President, Ayala Land; and Tulsi Das C. Reyes, DMCI Mining president and chief operating officer. PHOTOS COURTESY OF AYALA CORP. AND DMCI HOLDINGS INC.
B3
ERCEDES-BENZ Group AG is preparing a broader overhaul of its China strategy after the luxury-car market deteriorated more sharply than expected, insisting it has no plans to retreat from what remains the world’s largest auto market. Chief Executive Officer Ola Källenius said conditions in China were “deteriorating beyond what we had thought would happen this year,” with weakness intensifying further in the second half. The downturn has been particularly severe at the upper end of the market, where Mercedes has traditionally held a strong position and generated some of its richest margins. Källenius said Mercedes is reviewing everything from its product lineup to sales, production, sourcing and technology in China, with a broader strategy to be presented in 2027. “There is not a play where you put China aside,” he told analysts Wednesday. “It has to be one of the pillars of your strategy.” The reassessment comes as Mercedes pushes ahead with its biggest product and cost overhaul in years. Third-quarter revenue fell 4.5 percent to €30.7 billion ($34.1 billion), while adjusted group earnings before interest and tax declined 15 percent, the German carmaker said Wednesday. A day earlier, Mercedes lowered its outlook, citing a worsening China slump and higher costs. At the core cars division, adjusted earnings more than halved to €560 million in the third quarter, and the margin narrowed to 2.5 percent from 4.8 percent, reflecting the weaker contribution from China as well as currency and product-launch costs. Mercedes vehicle sales in China fell 31% in the third quarter from a year earlier, extending a decline driven by weaker luxury demand, fierce price competition and increasingly sophisticated domestic rivals. Mercedes shares fell less than 1 percent on Wednesday in Frankfurt, following Tuesday’s 3.9 percent decline. The stock has lost more than a third of its value this year. Källenius said Mercedes isn’t treating the decline as a reason to downgrade China to a niche market. Beyond its sheer size, the country remains important because of its fastmoving technology ecosystem and
the growing global reach of Chinese suppliers and automakers, he said. The company is instead trying to remake the economics of selling cars there. A coming electric E-Class was developed from what Källenius described as effectively a “white sheet of paper,” with a product tailored more closely to Chinese buyers and sourcing shifted much more heavily into the country. Mercedes will get close to sourcing the vehicle entirely in China for local production, Källenius said, helping cut variable costs significantly compared with its previous model. The company also plans to price the car realistically for local market conditions rather than relying on the economics that underpinned its China business in the past. Still, Källenius ruled out chasing volume at any cost. Mercedes won’t adopt the “fire sale market-share-atall-cost” approach pursued by some competitors, he said, underscoring the tension between protecting the brand and competing in one of the world’s fiercest price wars. Chief Financial Officer Harald Wilhelm said the company expects its new-model momentum to strengthen further in 2027, alongside continued reductions in variable costs. But he declined to predict where China will be by then, saying the company would give a clearer assessment when it reports full-year results in February. The comments add to signs that Mercedes increasingly sees China as a structural challenge rather than a temporary cyclical downturn. For years, Chief Executive Officer Ola Källenius has pursued a strategy centered on selling fewer but more expensive cars, relying heavily on models such as the S-Class, Maybach, G-Class and AMG range to support margins. That calculation has become harder as China’s property downturn weighs on luxury spending and local rivals challenge Mercedes on price, software, electric technology and increasingly design. Mercedes is responding with both cost cuts and its largest-ever product offensive. More than 40 new or refreshed models are due by the end of 2027. The electric CLA and GLC are already being rolled out, with new versions of the C-Class, S-Class, GLE and GLS among the vehicles intended to revive demand. Bloomberg News
B4
Thursday, October 29, 2026
Gifts that show a little love for our fur babies
Cocolife bags two honors at C Asian Experience Awards 2026
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ocolife has earned two prestigious recognitions at the Asian Experience Awards 2026, receiving Philippines – Brand Experience of the Year (Insurance) for the Alagang Cocolife Wellness Forum and Community Run, and Philippines – Product Experience of the Year (Financial Services) for the Alagang Cocolife Line of Health Products. This dual recognition highlights Cocolife’s commitment to creating meaningful experiences that extend beyond traditional insurance, bringing together health and financial protection, accessible solutions, and community engagement to support the well-being of Filipinos. The Asian Experience Awards recognizes organizations across Asia for delivering outstanding brand and customer experiences through innovative solutions. The ceremony was held on October 1, 2026, at the Marina Bay Sands Expo and Convention Centre in Singapore, bringing together awardees from various countries in the region. Cocolife emerged as a winner among its Asian counterparts, highlighting the company’s ability to deliver meaningful customer experiences and initiatives that stand out on a regional stage. The Philippines – Brand Experience of the Year (Insurance) award recognizes the
value of the Alagang Cocolife Wellness Forum and Community Run, an initiative designed to promote holistic wellness through health education, preventive practices, and active living. The Wellness Forum, held in Manila and Davao, brought together clients, brokers, employees, and members of the public for discussions on healthy living, disease prevention, and financial preparedness. Complementing the Wellness Forum is the Community Run, one of the key activities of the Alagang Cocolife Run Club, founded by Ma. Rowena Asnan, FVP and Head of Marketing and Research, which has grown to over 1,000 members nationwide. The community run has encouraged participants to embrace fitness and build stronger connections, with four community runs legs conducted since 2025. Together, these activities reinforce Cocolife’s belief that caring for people means empowering them to make informed decisions about their health and future. The Philippines – Product Experience of the Year (Financial Services) award recognizes the Alagang Cocolife Line
of Health Products, which addresses the interconnected concerns of health and financial security. Building on the pioneering Cocolife Aruga plan, the portfolio expanded with Cocolife Agapay and Cocolife Kalinga to offer options for varying needs and budgets. Through these new products, Cocolife aims to help more Filipinos prepare for health-related uncertainties and strengthen their financial resilience. “Through Alagang Cocolife, we want to go beyond providing insurance and build meaningful relationships with our customers and communities. It’s about helping Filipinos achieve better health and financial wellbeing while making them feel cared for and supported every step of the way.” said Ma. Rowena Asnan, FVP and Head of Marketing and Research. Together, these recognitions reflect Cocolife’s commitment to understanding and caring for Filipinos through meaningful experiences and accessible health protection. For more information about Alagang Cocolife and our suite of products and services, visit: https://www.cocolife.com/
Mang Inasal honors Coco Martin at Ihaw Fest 2026
Mang Inasal president Mike Castro presents a token of appreciation to Coco Martin for the latter’s decade-long partnership with the brand. They are joined by other Mang Inasal brand ambassadors, from left, Shuvee Etrata, Fyang Smith, Maris Racal, and Dimples Romana and MI Leadership Team members, Human Resources Head Me-Anne Lim, Mega Manila RBU Head Tes Lacuna, Marketing Head Mari Aldecoa, and Research and Development senior manager Myla Driz.
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ANG Inasal, the country’s Grill Expert, brought together customers and some of the country’s biggest celebrities for the grand culmination of Ihaw Fest 2026, transforming Ayala Malls Feliz into a venue filled with Ihaw-Sarap, Unli-Saya, and Filipino togetherness. The annual Mang Inasal Ihaw Fest welcomed beloved brand ambassadors Coco Martin, Dimples Romana, Maris Racal, Shuvee Etrata, and Fyang Smith for a star-studded gathering that showcased the strong connection between the country’s Grill Expert and the communities it serves. The event’s highlight was a special tribute honoring Coco Martin’s
decade-long partnership with Mang Inasal. The actor and the brand have shared a common bond with Filipinos, becoming household favorites through authenticity, consistency, and a deep connection with everyday consumers. “Napakalaking bagay po sa akin na hanggang ngayon, nandiyan pa rin ang inyong tiwala. Maraming salamat po sa lahat ng ating mga kababayang patuloy na sumusuporta sa akin at sa Mang Inasal,” said Martin. (“I am truly grateful for the trust and support that Filipino consumers have given me and Mang Inasal through the years.”) Dimples hosted the event with MJ Joanino. It featured live performances, interactive challenges, exciting prizes, and free Pork BBQ sampling that brought fans closer to their favorite stars while enjoying Mang Inasal’s signature grilled favorites. A high-energy performance by UPeepz Dance Company added to the festive atmosphere, turning the event into the Ultimate Unli-Saya Experience. For Mang Inasal President Mike V. Castro, the success of Ihaw Fest reflects the brand’s continuing commitment to creating meaningful experiences that go beyond serving great food. “More than a celebration, Ihaw Fest is our way of thanking the millions of customers who continue to make Mang Inasal part of their family’s special moments and everyday meals,” said Castro. “The incredible turnout and energy from our customers remind us why we continue creating experiences that bring people together through the Ihaw-Sarap flavors and Unli-Saya moments they love.” Now on its fourth year, Ihaw Fest has become one of Mang Inasal’s most anticipated annual promotions, giving customers more reasons to enjoy their favorite grilled meals every October. Customers can still be part of the celebration until the end of the month, with two FREE Palabok Solo servings for every purchase of the Mang Inasal Family Fiesta bundle. Want more Mang Inasal exclusives NOW? Visit https://manginasal. ph for the latest news, https://manginasaldelivery.com.ph for delivery deals, and follow Mang Inasal on social media for more IhawSarap and Unli-Saya updates!
HRISTMAS is a time for remembering the people who make our lives special. But for many households, the holiday gift list would not be complete without the four-legged family members who bring joy, companionship and plenty of personality into the home. And while our pets may not understand the excitement of unwrapping presents, they certainly enjoy the attention, care and little comforts that make them feel loved. For fur parents looking for thoughtful gifts this Christmas, practical essentials can be just as meaningful as something playful or unexpected. At Pet Express, SM Green Finds offers a selection of products that can inspire gift ideas for pet lovers, from everyday grooming essentials to accessories that make life with their furry companions more enjoyable. For dogs who deserve a little pampering, Wonder Paw has several grooming options to consider. The Oatmeal Moisturizing Shampoo in Jeju Pear is an option for bath time, while the Enzymatic Deodorizing and Sanitizing Mist offers another addition to a pet parent’s grooming routine. For those looking for a convenient alternative between baths, the Wonder Paw Probiotic Waterless Shampoo is another product to explore. These are practical gifts for pet parents who know that caring for their companions goes beyond feeding and playtime. Sometimes, it is the everyday routines that help make pet ownership more rewarding. For dog owners who are always prepared for walks, Earth Rated’s lavender-scented and unscented poop bag refill rolls are useful additions to their pet-care essentials. They may not be the most glamorous presents under the tree, but thoughtful gifts do not always have to be extravagant. Sometimes, the things pet parents use regularly are the ones they appreciate most. For pets who love having a comfortable place to rest, the Vetreska Tangerine Rattan Pet Bed offers a more distinctive option. With its playful design, it can also appeal
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Senior Usec. Eduardo Robles, Jr., Usec. Roman Nicholo Molina, SHFC Management Luzon 1 Manager Dulce Abusman, and Rizal Branch Division Chief Emma Lintao. “Alam ko po ang pinaghirapan at sakripisyo ninyo sa loob ng dalawang dekadang paghihintay [I know the hard work and sacrifices you have made over the two decades of waiting],” Laxa said, congratulating the beneficiaries on finally receiving their long-awaited land titles. Inmaculada HOAI Phase 1 is a beneficiary of the Community Mortgage Program (CMP), implemented under the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program of President Ferdinand Marcos, Jr. Under the CMP, legally organized groups of informal settler families can acquire the land they occupy through community financing. Over the past 38 years, the program has provided security of tenure to more than 300,000 families
to fur parents who enjoy accessories that reflect their pets’ personalities. And for dogs who love a little playtime, the Pet Play Avo-Doggo Toast adds a fun touch to the gift list. There are also options for families whose pets are part of their everyday adventures. The M-Pets Premium Eco Trek Travel Carrier is worth considering for dog owners who need a carrier for their travels, while the M-Pets Eco Bowl provides a practical feeding accessory for everyday use. Cat parents have an option of their own in The Fur Life Tofu Fragrance-Free Natural Cat Litter. The variety is a reminder that thoughtful gifting can take many forms. Some presents make grooming easier, others add comfort or encourage play, while everyday essentials help pet parents care for their companions. This Christmas, SM Green Finds at Pet Express offers fur parents an opportunity to discover gifts that put their pets’ needs and personalities at the heart of the celebration. Whether choosing a practical grooming product, a playful accessory or something for a pet’s everyday routine, the thought behind the gift matters most. After all, our pets give us their affection in countless ways throughout the year. The holidays offer another opportunity to return that love—with a little something chosen just for them.
Asian Hospital brings community together for first-ever Bayanihan Run 2026
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SIAN Hospital and Medical Center, together with Asian Hospital Charities, Inc. (AHCI) and Asian Learning Institute, held its first-ever Asian Hospital Bayanihan Run 2026 on October 18 at the Muntinlupa Sports Complex in Barangay Tunasan, Muntinlupa City. The event brought together members of the hospital community, runners, partners, volunteers, and supporters to promote fitness, compassion, and community involvement while raising support for charity patients and helping make quality health care more accessible to those in need. The initiative also reflected the hospital’s commitment to its campaign, “Alagang Deserve, Alagang Sulit,” which highlights its dedication to providing quality care and meaningful value to patients. Welcome remarks were delivered by Asian Learning Institute Director Dr. Jose Acuin and Human Resources Director Atty. Joey Torres, who highlighted the importance of unity and working together to make a meaningful difference in the lives of patients and the communities they serve. Dr. Acuin emphasized the role of Asian Hospital Charities and the Bayanihan inpatient
After two decades, 30 Antipolo families secure land titles from SHFC, DHSUD
FTER nearly two decades of waiting, 30 members of the Inmaculada Homeowners Association, Inc. (HOAI) Phase 1 in Antipolo City have finally secured legal ownership of the land they call home. This milestone was realized when Social Housing Finance Corporation (SHFC) and the Department of Human Settlements and Urban Development (DHSUD) awarded them their Transfer Certificates of Title (TCTs) on October 21, 2026, at the DHSUD Auditorium in Quezon City. The ceremony was part of the celebration of National Shelter Month, which carries the theme “Tahanan. Pamayanan. Kinabukasan.” DHSUD Secretary Jose Ramon Aliling and SHFC President and CEO Federico Laxa led the awarding of land titles to the beneficiaries, giving the families security of tenure and peace of mind in their community. They were joined by DHSUD
M-Pets Premium Eco Trek Travel Carrier (Large)
nationwide. Meanwhile, Inmaculada President Bernardo Leonor expressed his heartfelt gratitude to SHFC and DHSUD, highlighting the agencies’ role in helping the community achieve its long-awaited goal of land ownership. “Sobrang salamat po sa DHSUD at SHFC. Wala po kami kung hindi dahil sa inyo. Napakaswerte po namin na nandiyan kayo [Thank you so much to DHSUD and SHFC. We wouldn’t be here without you. We are so lucky to have you here],” he said. Since January 2026, SHFC has distributed more than 5,100 land titles to beneficiaries across the country, in line with President Marcos’ directive to accelerate the delivery of housing programs to Filipinos. For more information on SHFC projects and application procedures, please visit www.shfc.gov. ph or call (02) 5322-7300.
and outpatient programs in helping more patients in need receive the hospital’s quality health care services. “Asian Hospital Charities and the Bayanihan inpatient and outpatient programs share the same vision: to enable more patients in need to experience the world-renowned brand of Asian Hospital care. Marami pong salamat sa aming mga Bayanihan Run partners from the media and the local government of Muntinlupa for sharing this vision. Let us run swiftly, run safely, and run inspired. Let’s inspire others to help ensure equitable access to health care for our citizens,” said Acuin. Adding fun and excitement to the morning was Ate Rose, the hospital’s character representing atherosclerosis, who joined participants during the Zumba session and brought an engaging element to the fitness celebration. Asian Hospital Chief Medical Officer Dr. Carmen Nievera and Director of Marketing and Patient Experience Ms. Hennessy Miranda also expressed their appreciation to the runners, volunteers, organizers, and partners who helped make the inaugural run a success. Asian Hospital and Medical Center extends its heartfelt thanks to everyone who supported the event, including its media partners and the local government of Muntinlupa. Through the Bayanihan Run, the hospital celebrated the spirit of bayanihan and the power of partnerships in supporting charity patients and making quality health care more accessible, reflecting its commitment to “Alagang Deserve, Alagang Sulit.” Run together. Give together. Celebrate bayanihan together.
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Editor: Dennis D. Estopace • Thursday, October 29, 2026 B2-1
Upper middle-income PHL: Better loan deals ahead? ECONOMY
Just a bit
For the Philippines to benefit from its higher income status, it also needs to strengthen the systems that give lenders and investors confidence that borrowed or invested funds will be used properly and that projects will deliver their intended economic returns. By Justine Xyrah Garcia & By Reine Juvierre Alberto
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@reine_alberto
HILE the Philippines’s entry into the upper-middleincome country (UMIC) club may be a milestone worth celebrating, moving up the income ladder has a trade-off: Manila must play by a slightly different set of rules. The country’s new income status, announced in July after its gross national income (GNI) per capita reached $4,850 last year, will gradually change how the government can access development financing. As some concessional terms become less available, the Philippines will have to be more strategic about where it borrows, how much it pays and, perhaps most importantly, which projects are worth taking on debt for. “What changes as we move toward upper-middle-income coun-
try status is the cost and range of financing available to us,” Finance Secretary Frederick D. Go told the BusinessMirror. According to Go, the Philippines will receive fewer grants over the three years after it attained UMIC status, a natural transition as the country becomes more “economically advanced.” The cost of borrowing from multilateral lenders would likewise rise by about 10 to 20 basis points because of maturity premiums on certain concessional loans, read the email Go sent to this newspaper.
ACCORDING to Joseph Norley Y. Capistrano, Director IV of Public Investment Staff at the Department of Economy, Planning, and Development (DepDev), changes in funding wouldn’t be in leaps and bounds. “Our transition to UMIC status will gradually reshape our development financing landscape. It will be a bit more expensive, but the increase will not be that much,” Capistrano told the BusinessMirror. The caveat, he said, are some requirements. Before any changes happen, Capistrano said the country needs to maintain its three-year window of becoming a UMIC before access to concessional financing becomes gradual. The clock started ticking in July this year when the Philippines was classified as an upper-middleincome economy; and runs for two more years. This means any further changes in financing terms could coincide with the transition to a new administration. Under the “Development Assistance Committee” (DAC) framework of the Organization for Economic Cooperation and Development (OECD), the degree of concessionality—or how favorable a development loan’s terms are—is determined in part by the recipient country’s income classification. The DAC framework measures concessionality through a “grant element.” The latter accounts for the loan’s interest rate, grace period, ma-
CLIMBING the income ladder suggests the government must rely less on borrowing. However, a higher income status does not automatically mean the Philippines should stop taking on debt. PHOTO BY BERNARD TESTA/BM
turity, and the discount rate used to calculate the present value of future repayments. In simple terms, the more favorable the loan terms, the higher its grant element. For loans to low-income and leastdeveloped countries, the loan must have a grant element of at least 45 percent. The minimum falls to 15 percent for lower-middle-income countries (LMICs) and 10 percent for UMICs like the Philippines. The DAC uses different discount rates to calculate the grant element: 9 percent for low-income countries; 7 percent for LMICs; and, 6 percent for UMICs.
X’d out concerns
ACCORDING to Finance Secretary
Go, concessional loans account for only about 10 percent to 15 percent of the government’s total borrowings; and any adjustment would apply to a small portion of its financing. Capistrano added that the potential loss of access to more concessional financing should not be a major concern, as the government has other funding options for its development programs. “You’re not going to borrow money at a loss, right? So if there’s a cheaper option, you go for the cheaper one. We will still avail of the best deal for the government. It’s not as if we’re ignoring the cheaper facilities,” he explained. Go also noted that the government will not overhaul its borrowing
strategy, but instead will continue relying mainly on domestic borrowing. “The next generation of development financing for the Philippines builds on what we already do,” the Finance chief said. “Our financing strategy has long been anchored on the domestic market, and it will remain so.” The government will prioritize peso-denominated, fixed-rate and longer-tenor instruments to manage the vulnerability of its debt portfolio to currency movements, interest-rate fluctuations and other refinancing risks, Go said. Most of the government’s annual borrowings, about 70 percent to 80 percent, come from the domestic market. For the remaining 20 percent to 30 percent sourcing, the state turns to the global debt market. “This mix has served the country well, as it limits our exposure to foreign exchange risk and supports the growth of our domestic capital market,” Go said. The government would also continue working with development partners to finance high-impact projects, while keeping terms favorable. Likewise, the international capital markets will be tapped as part of the government’s external financing strategy.
Global ratings
AS the government increasingly relies on borrowing amid elevated global interest rates, Go said the country’s See “UPPER,” B2-2
Banking&Finance
B2-2 Thursday, October 29, 2025 • Editor: Dennis D. Estopace
BusinessMirror
Govt spending slowed vs higher cash release
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By Reine Juvierre Alberto
@reine_alberto
TATE agencies’ cash utilization fell in the first nine months of 2026 from a year earlier despite higher cash releases.
Total notice of cash allocation (NCA) utilization rate reached 96.6 percent as of September, down from 97.3 percent a year ago, latest data from the Department of Budget and Management (DBM) showed. This comes after P3.861 trillion in NCAs released during the ninemonth period were utilized, leaving P136.499 billion unused. Compared to the same period last year, NCAs released were higher by 6.67 percent from P3.619 trillion, while NCAs unutilized jumped by 37.27 percent from P99.433 billion. NCAs are cash authorities issued by the DBM to cover the cash requirements of operations, programs and projects of government agencies.
Having a higher NCA utilization rate indicates the capacity of state agencies to timely disburse their allocated funds and implement their programs and projects. The data, broken down, showed that line departments posted a 95.2-percent NCA utilization rate, having used P2.6 trillion out of the P2.730 trillion disbursed to them. In contrast, the Presidential Communications Office had the lowest NCA utilization rate among agencies, making use of 75.3 percent, or P2.004 billion, of its P2.663-billion allocation. As for the biggest NCA recipients, the Department of Education (DepEd) secured the largest
allocation at P624.298 billion. DBM data showed that the DepEd spent P601.573 billion, equivalent to a 96.4 percent of its NCA-utilization rate. Following the DepEd are the Department of Public Works and Highways with P445.260 billion and the Department of National Defense with P298.178 billion. Meanwhile, NCAs released for budgetary support to governmentowned and -controlled corporations also reached P205.132 billion, of which 99.7 percent, or P204.618 billion, was utilized. Local government units (LGUs) also spent P1.056 trillion, or 99.5 percent, of their P1.062 trillion made available to them. Allocations to LGUs include the national tax allotment, special shares for LGUs, Metropolitan Manila Development Authority, Bangsamoro Autonomous Region in Muslim Mindanao and other transfers to LGUs. As of October 15, P6.596 trillion has been released from this year’s P6.793-trillion expenditure program.
Aim of the ‘Golden Arrow’
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EEING a savings bank transform into a dazzling listed company is like watching your favorite indie band suddenly shoot to mega stardom—an overwhelming mix of pride and excitement! Four years ago, the Philippine Business Bank (PBB) snagged its first “Golden Arrow Award,” and honestly, it felt like a dream fulfilled. I remember daydreaming about PBB claiming such a shiny accolade, and thinking, “Why not?” Who wouldn’t want to strut around with that kind of bragging rights? But oh, how naïve I was! I thought of the “Golden Arrow” as just a flashy trophy—until the PBB bagged that award and I had an epiphany. It was like flipping the switch on a light bulb that suddenly illuminated everything. What is the “Golden Arrow Award,” anyway? Picture the “Golden Arrow Awards” as the Oscars of corporate governance, where only the crème de la crème of companies—including banks—can
Upper. . .
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stronger creditworthiness could also help lower borrowing costs for non-concessional financing. “As our credit standing improves, we expect to borrow at more competitive rates across all of these sources. The savings can then be redirected to priority programs and services,” the Finance Secretary said in his email to the BusinessMirror. Major credit rating agencies Moody’s Ratings, S&P Global Ratings and Fitch Ratings have maintained the Philippines’ investmentgrade sovereign credit ratings. Moody’s affirmed its “Baa2” rating, while S&P Global Ratings retained its “BBB+” rating and Fitch Ratings its “BBB” rating. “We expect around 85 to 90 percent of our borrowings to benefit from more favorable borrowing costs, supporting the continued development of our capital markets and reinforcing the country’s attractiveness to investors,” Go added. Capistrano also noted that in anticipation of the transition to UMIC, the government is seeking financing arrangements with different, “less traditional” partners, including countries in the European Union. He said the government is opening the door to EU member states and exploring different financing instruments, such as export credit, which can support the purchase of goods and services from the lending country, and mixed credit, which combines public financing with private-sector funding.
Requirement minimized
CAPISTRANO told the BusinessMirror that Manila already has financing arrangements with Paris and Madrid. The move is part of the government’s effort to diversify its financing sources. Capistrano added that while the Philippines has traditionally worked with institutions such as the Asian Development Bank (ADB) and the World Bank, as well as governments such as Japan and South Korea, having more financing partners gives the government greater leverage in negotiating terms. “If the players there know that there are many of them, the tendency is for them to outdo each other in terms of terms and conditions,” Capistrano told the BusinessMirror. “By doing that, you can see what the best deal for the government is, and they’ll try to outdo each other.” He added that diversifying fi-
shine. To snag one of these shimmering arrows (you can get up to five of them!), companies must score at least 75 points on the “Asean Corporate Governance Scorecard” (ACGS). This isn’t just any old scorecard; it evaluates everything from shareholder rights to board effectiveness, all while making sure the company isn’t just putting on a good show.
Why should banks care?
IMAGINE banks as performers under a spotlight: they’re constantly under scrutiny, with regulators keeping a keen eye. With digital transformations and cybersecurity threats lurking like ninjas in the night, strong governance is a must. Fund managers and regulators are increasingly using the ACGS to size up stability and long-term value. So what does that mean for us regular folks? Well, higher scores translate to more trust from investors, a smoother ride on the regulatory highway, and a competitive advantage that makes a bank shine
nancing sources also prevents the government from becoming too dependent on a single lender in case circumstances change. The DepDev director also emphasized the need to expand public-private partnerships (PPPs) to deliver development projects, particularly by leveraging the private sector’s efficiency, innovation, and investment capacity. “At the end of the day, we want to capitalize on the efficiency and innovation of the private sector to deliver important projects for us. It also minimizes the government’s investment requirement,” he said.
Justifying costs
FOR many, moving up the income ladder may suggest that the government should rely less on borrowing. However, Capistrano said a higher income status doesn’t automatically mean the Philippines should stop taking on debt. Instead, the government should assess whether borrowing would generate greater economic returns than using its own funds. This means borrowing for the right projects to secure punctual implementation and to minimize delays and cost overruns so that the economic benefits outweigh the financing costs. Capistrano said that, in this sense, development borrowing can be viewed as an investment in the country’s future economic capacity. The key, he added, is not to avoid borrowing altogether but to ensure that the economic benefits of a project justify the cost of taking on debt. As of August, the national government’s outstanding debt climbed to P19.606 trillion. This is higher by 12.24 percent than the P17.468 trillion recorded in the same period a year earlier. Domestic debt accounted for much of the debt stock at P13.239 trillion, while external liabilities stood at P6.367 trillion. The debt portfolio is predominantly pesodenominated, with 66.7 percent of total debt in Philippine pesos.
Shocks, risks
THE Development Budget Coordination Committee (DBCC), composed of the country’s economic managers, assured that external debt remains “modest” with favorable terms and external financing requirements are “stable,” considering the extended amortization schedule of public debt. However, the weaker peso and higher borrowings from both domestic and external sources pushed the government’s total debt to 66 percent
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brighter than the rest. When investors see those arrows glinting, they’re more likely to sit up and pay attention—because strong governance equals lower risk and better vibes. And guess what? The PBB has achieved an impressive “Two-GoldenArrow” distinction, scoring between 85 points and 94 points for two consecutive years! Talk about raising the bar! Companies getting two “Golden Arrows” earn rep for: n Championing shareholder rights and fair treatment that would make even the most seasoned democracies proud. n Rocking their relationships with stakeholders and stepping up their sustainability game, because who doesn’t want a greener planet? n Shining in transparency with their disclosure and accountability efforts, making them the go-to choice for savvy investors. n Mastering effective board oversight—like having a skilled conductor lead a symphony. This score isn’t just a shiny sticker; it showcases a bank that’s graduated from the kiddie pool of compliance to the deep end of strategic management and transparent leadership. And that, my friends, is a performance worthy of a standing ovation! A huge congratulations to all our outstanding Golden Arrow awardees! Judith C. Songlingco is the Head of Corporate Affairs and Brand Marketing at the Philippine Business Bank (PBB) and the Secretary of the Bank Marketing Association of the Philippines (BMAP). She can be reached via judith.songlingco@yahoo.com. The writer’s views and her written piece do not necessarily reflect those of the BusinessMirror, the PBB and the BMAP.
of gross domestic product (GDP), a 22-year high, as of end-June 2026. Nevertheless, economic managers expect the debt-to-GDP ratio to “converge” with the revised target of 64.9 percent for this year as borrowings wind down in the second half of the year and GDP growth “remains positive.” Meanwhile, the government’s gross financing needs stand at around 9 to 10 percent of GDP. “Elevated financing requirements expose the national government to refinancing and interest rate risks. Even without additional shocks, maturing low-cost debt incurred during the pandemic is being refinanced at higher prevailing rates,” the DBCC said in its latest fiscal risk statement. “Financing becomes more challenging amid heightened geopolitical tensions and inflationary pressures that may prompt renewed global monetary policy tightening and further raise borrowing costs,” it added.
Automatic translation
BUT having more financing options does not automatically translate into greater financing leverage. For the Philippines to benefit from its higher income status, it also needs to strengthen the systems that give lenders and investors confidence that borrowed or invested funds will be used properly and that projects will deliver their intended economic returns. Capistrano said this means addressing project implementation concerns, including delays and cost increases, while strengthening the government’s ability to ensure projects are properly executed. At the same time, private-sector confidence in PPPs remains important, particularly as some investors continue to seek de-risking mechanisms backed by Oda resources before committing fully to government projects. “We have transitioned to UMIC, but some participants from the private sector are still hesitant. There is a lack of confidence in the private sector that we will be able to make the payments. I think that seems reflective of the kind of macroeconomy that you have,” Capistrano told the BusinessMirror. This suggests that the country’s challenge may be less about how it will finance future projects, and more about how it will ensure that it can implement them properly, meet its financial commitments, and turn those investments into actual economic gains.
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BIR eyes expanding abatement program
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HE Bureau of Internal Revenue (BIR) plans to include small taxpayers in its onetime abatement program to resolve long-pending tax cases and encourage taxpayers to settle outstanding liabilities. The BIR said In a statement issued last Wednesday the tax-collecting agency is studying whether to expand the program to include small taxpayers after the BIR noticed that 3,929 taxpayers benefited in four months since the roll out of the program. A total of 17,101 applications had been filed, of which 15,050 had been approved as of October 24, the BIR said. About P266.79 million in taxes and penalties were abated. Of the amount, P42.05 million was for basic taxes, while P224.74 million represented compromise penalties.
“We have seen from the level of availment that this relief is helping taxpayers settle covered obligations and clean up their tax records,” Internal Revenue Commissioner Charlito Martin R. Mendoza was quoted as saying in the statement. “We are now looking at expanding the one-time tax abatement to include small taxpayers, or those with annual gross sales of P3 million to below P20 million. This can extend the same relief to more small businesses, while also helping the BIR close long-pending open cases,” he added. Currently, the program covers micro taxpayers with annual gross sales below P3 million with delinquent accounts, preliminary or final assessments, whether disputed or not, and open stop-filer cases. Taxpayers who have ceased busi-
ness operations are also included. Qualified micro taxpayers with covered basic taxes and/or penalties totaling not more than P80,000 for a taxable year may apply for abatement upon payment of a P5,000 abatement fee, subject to the prescribed conditions. The BIR has made payment under the program convenient by updating the Offline eBIRForms Package to support abatement payments through BIR Form No. 0605. The program remains available until December 31, 2026. “Our Revenue Regions and Revenue District Offices will continue reaching out to qualified micro taxpayers and assisting them with availment. We want to make sure that those who qualify for this relief know that it is available and know where to go for assistance,” Mendoza said.
ODA-funded Samal Island-Davao City Connector project restructuring OK’d
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HE Investment Coordination Committee-Cabinet Committee (ICC-CC) has approved the restructuring of the Samal Island-Davao City Connector (SIDC) project in its bid to improve connectivity and support economic opportunities in Mindanao. A statement issued by the Department of Finance (DOF) last Wednesday read that the ICC, which it co-chairs, has approved the project restructuring and will be submitted to the Economic Development (ED) Council for the final approval of President Ferdinand R. Marcos Jr. The project, endorsed last October 22, is funded through official development assistance from the Chinese government. It is expected to connect Davao
City at the R. Castillo–Daang Maharlika Junction to the Samal Circumferential Road through a 4.76-kilometer, four-lane, toll-free bridge, according to the DOF, which added the bridge should accommodate around 25,000 vehicles every day. The bridge will feature a 275-meter main span and a vertical clearance of 47 meters, with its marine crossing section spanning 1.62 kilometers, supported by twin pylons rising 73 meters above sea level, the statement further read. Once completed, the DOF said it expects the bridge to provide “more convenient access to jobs, education, markets, tourism destinations and essential services, while supporting local businesses and economic activity in the area.” According to the DOF, it has
ADB supports infra credit fund for Asia
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HE Asian Development Bank (ADB) is backing a proposed $750-million infrastructure credit fund that will finance projects in the Philippines and nine other Asian economies, targeting private investments in lower-carbon infrastructure and technologies. The Emerging Asia Infrastructure Credit Fund, which will invest in new and existing infrastructure projects primarily in Southeast Asia, has an approved $30-million ADB loan and proposed cofinancing of $17.5 million, according to the bank’s project disclosure updated October 21. The fund is also seeking up to $57.5 million in equity investment, as part of its targeted $750-million capital pool. In the Philippines, the fund’s nationwide coverage places it among financing initiatives intended to mobilize private capital for infrastructure projects while supporting the shift to a low-carbon economy. Its regional coverage includes Bangladesh, Cambodia, India, Indonesia, Laos, Malaysia, Sri Lanka, Thailand and Vietnam. The fund will consider investments in sectors where cutting emissions is particularly difficult, as well as emerging technologies designed to reduce carbon emissions. Its portfolio may include both greenfield projects, or those built from the ground up, and brownfield projects involving existing infrastructure. The ADB classifies the project under its sustainable development goals on access to affordable and reliable energy, increasing the share of renewable energy, and expanding energy infrastructure and technology. The fund will operate under an environmental and social management system aligned with the ADB’s 2009 Safeguard Policy Statement. Its investment rules exclude projects with the most significant environmental impacts and prohibit activities on the bank’s prohibited investment list. Companies receiving investments will also be required to consult affected stakeholders and establish grievance mechanisms proportionate to their environmental and social risks. The ADB classified the fund as having effective gender mainstreaming and an indirect contribution to poverty reduction and inclusion. The latter reflects its expected impact through private financing for climate-aligned infrastructure, although the people directly benefiting from such projects may not necessarily be poor or vulnerable. The ADB lists November 6 as a key milestone date. Bless Aubrey Ogerio
secured 2.34 billion renminbi or about P17.39 billion from China in 2022 to fund the construction of the bridge. The project’s total cost amounts to P23.040 billion and has reached 62 percent physical accomplishment. The Department of Public Works and Highways, the main project implementer, entered into an agreement with the China Road and Bridge Corp. for the bridge construction. “By improving connectivity between Davao City and Samal Island, we are supporting local businesses and creating more opportunities for communities,” Finance Secretary Frederick D. Go was quoted as saying in the statement. Reine Juvierre S. Alberto
briefs ➔ SGV names new chairman
THE SGV & Co. announced last Wednesday the appointment of Michael C. Sabado as its new chairman and country managing partner. Sabado will succeed Rossana A. Fajardo starting November 3, 2026, a statement by the accounting firm read. He serves as SGV’s assurance partner with more than 30 years of experience since joining the firm in 1993. Sabado also co-headed SGV’s Japan Business Services and assisted Japanese investors and multinational companies in the Philippines. Sabado is a certified public accountant and earned his degree in Bachelor of Commerce, Major in Accounting, from San Beda University. Reine Juvierre S. Alberto
➔ SSS members to receive ‘Uplift’ aid
THE Social Security System (SSS) announced last Wednesday that eligible members under the expanded coverage of the Department of Social Welfare and Development’s (DSWD) “Uplift” assistance program will receive up to P8,000 in financial assistance beginning October 30, 2026. The latest payout will cover qualified SSS members with monthly salary credits (MSC) not exceeding P10,000. The aid consists of four tranches of P2,000 each, to be credited directly to their registered SSS disbursement accounts, the SSS said in a statement. The SSS emphasized that having an MSC not exceeding P10,000 doesn’t automatically entitle a member to the Uplift Assistance aid.
➔ AFC SME to fund home construction
THE AFC SME Finance Inc., a member of the Asialink Group of Companies, announced it is offering loans of up to P5 million for home construction to those with land but cannot borrow from banks due to their strict documentation requirements. Recto said the program is aimed at households with steady income like market vendors, small contractors, farmers, jeepney and tricycle operators, families supported from overseas. AFC SME began in 2018 as a microfinancing provider for micro businesses and pivoted into real estate-secured lending in 2021. It has released P1.06 billion in loans so far this year, against P2.8B extended cumulatively from its founding through the ending of September 2026.
➔ PNB wins ‘Golden Arrow’ anew
THE Institute of Corporate Directors (ICD) recognized Philippine National Bank (PSE: PNB) with the “Four Golden Arrow (FGA) Award” for the fifth consecutive year, a statement issued by PNB last Wednesday read. For publicly listed companies, the Golden Arrow recognition is based on the “Asean Corporate Governance Scorecard” (ACGS). The 2026 awards were based on the results of the 2025 ACGS assessment. Companies that receive FGAs attain ACGS scores ranging from 105 to 114 points. The Golden Arrow distinction is awarded to organizations that achieve at least 75 points, signifying observable adherence to the Philippine Code of Corporate Governance and internationally recognized governance standards.
Editor: Dennis D. Estopace • Thursday, October 29, 2026 B2-3
DBM to govt entities: Settle all obligations
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By Reine Juvierre Alberto
@reine_alberto
HE national government is expediting disbursements to clear its unpaid bills before year-end to prevent unpaid obligations from spilling over into next year’s budget, following new guidelines issued by the Department of Budget and Management (DBM).
The DBM’s Circular Letter 202614 orders all state agencies, universities, and government servicing banks to accelerate cash transfers and check releases for the entire month of December. It also ordered the temporary suspension from December 1 to 31 the 24-hour waiting period for the encashment of “modified disbursement system” (MDS) checks and direct bank deposits. Typically, government creditors must wait at least 24 hours after a check is issued to encash it, while direct bank deposits through the “Advice to Debit Account” (ADA) system usually take 24 hours to
48 hours to be credited to payees’ accounts. As such, the DBM ordered all government agencies and operating units to immediately transmit without delay their respective summary payment documents, such as the “Advice of Checks Issued and Cancelled” (ACIC) and the Summary of List of Due and Demandable Accounts Payable-ADAs issued and Invalidated ADA Entries (SLIIE), to Authorized Government Servicing Banks (AGSBs). Upon receiving these documents, agencies must promptly release MDS checks to payees, while servicing banks are required to credit
creditors’ accounts instantly and provide agencies with validated payment receipts. In cases where bank transfers fail due to information mismatches, such as incorrect account numbers or branch names, banks must immediately notify the issuing agency under a “remarks” column so the error can be flagged and rectified. To ensure smooth accounting ahead of the fiscal closing, the DBM is encouraging all government offices to settle their due and demandable obligations no later than December 22, 2026. However, agencies must continue issuing checks and processing direct bank transfers until the absolute cutoff on Tuesday, December 29, 2026, the final working day of Fiscal Year 2026. W hile direct bank deposits remain the primary method for government disbursements, the DBM will allow specific categories of payees to continue receiving physical checks or cash payments. These exceptions include smallva lue payees w it h c l a i ms of P10,000 or below, one-time or non-regular claimants and private companies whose internal corporate policies prohibit opening additional current accounts.
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Thursday, October 29, 2026
Rising obesity burden underscores need for accessible care as semaglutide prices fall
PhilHealth members can now request N transfer to preferred YAKAP Clinic
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he Philippine Health Insurance Corporation (PhilHealth) announced that YAKAP beneficiaries can now request reassignment to a new YAKAP Clinic during the fourth quarter of the year, providing members greater freedom and flexibility in accessing primary healthcare services. Transfer rules are as follows: • Beneficiaries who have not yet availed their First Patient Encounter may apply for a clinic transfer at any time during the year, with approved requests taking effect immediately. • Beneficiaries who have completed their FPE may only request a transfer
during the fourth quarter (October to December) of the current year. Approved transfers will take effect on January 1 of the following year.
To request a transfer, members must visit any PhilHealth Local Health Insurance Office (LHIO) for member verification and liveness checking via the PhilHealth Check Utility (PCU). Applicants who cannot complete PCU verification, such as those whose PhilSys registration has not yet been finalized, may present one valid government-issued identification card or other acceptable documents, together with a duly accomplished Primary Care Selection Form. Beneficiaries unable to personally request their transfer, may authorize a representative by submitting an authorization letter and valid IDs for both the member and the representative. Upon request approval, beneficiaries will receive an email notification confirming their assignment to their new YAKAP Clinic. For inquiries and assistance, members may contact the PhilHealth Action Center at (02) 8662-2588 or visit the nearest PhilHealth Regional Office or Local Health Insurance Office.
Maybank Women Eco-Weavers launch second weaving training center
Guests and community members at the newly launched Maybank Women Eco Weavers ANTHILL Abaca Weaving Training Centre in Bukidnon.
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AYBANK Foundation, the social impact arm of Maybank Group, and ANTHILL Fabric Gallery, together with the Daraghuyan Bukidnon Tribe, recently launched the Daraghuyan Bukidnon Balay Hu Paglala Ha Abaka – Maybank Women EcoWeavers (MWEW) ANTHILL Abaca Weaving Training Centre at the Daraghuyan Tribal Housing Village in Barangay Dalwangan, Malaybalay City, Bukidnon. The new training Center, which is the 13th centre established under MWEW across five ASEAN countries and the second in the Philippines, provides a dedicated community space for weaving, skills development, knowledge transfer and production. It also strengthens the connection between the Daraghuyan community’s women weavers and the farmers cultivating the abaca fibre used in their traditional Pinangabol weaving. Its opening marks the latest chapter of MWEW’s 10th anniversary journey across ASEAN, following the program’s main regional celebration in Bali, Indonesia in August and its subsequent celebration in Siem Reap, Cambodia in September, held alongside the third MWEW Regional Natural Dye Workshop and the launch of the MWEW Color Silk Natural Dye Gallery. Taking place during the Philippines’ Indigenous Peoples Month, the launch also celebrates the Daraghuyan community’s cultural heritage and the generations of women who continue to carry its traditional weaving knowledge. Pinangabol is traditionally woven using abaca fibre, with patterns and colours carrying cultural meaning passed down through generations. Launched in 2016, MWEW is Maybank Foundation’s regional program that promotes women’s economic independence while preserving traditional woven textile heritage and strengthening sustainable livelihoods. Working with local partners and weaving communities, the program supports women with skills development, production and market access, while strengthening the wider ecosystems that sustain their craft, from natural fibre cultivation and natural dyeing to more sustainable and zero-waste practices. In Bukidnon, this approach takes shape through the Daraghuyan community’s own fiberto-fabric ecosystem. The area’s suitability for abaca cultivation, together with the presence of abaca farmers and women weavers from the same community, enables MWEW to strengthen the local value chain from fibre cultivation and processing
through to weaving and market access. The new training Center builds on these existing strengths by creating a permanent space where experienced weavers can pass their knowledge to new artisans, while supporting the community to strengthen production and pursue wider livelihood and market opportunities. “The opening of the MWEW ANTHILL Abaca Weaving Training Centre marks an important milestone for MWEW in the Philippines. As the 13th training center across five ASEAN countries and the second in the Philippines, this milestone is especially meaningful as we celebrate a decade of the Maybank Women Eco-Weavers Programme, and reflects our continued commitment to creating pathways for women towards greater economic independence while preserving the weaving traditions and knowledge deeply rooted in their communities,” said Izlyn Ramli, Chief Executive Officer of Maybank Foundation and Head of Group Corporate Affairs, Maybank. “Here in Bukidnon, we are already seeing this commitment take shape. We have supported 20 Daraghuyan women weavers and 25 abaca farmers, alongside the planting of 6,250 abaca plants. By connecting the women weavers with the abaca farmers from the same community, we are strengthening a local fiber-to-fabric ecosystem that builds on the community’s own knowledge and resources, while creating greater opportunities for sustainable livelihoods,” Izlyn added. MWEW expanded to the Philippines in 2025 through its partnership with ANTHILL Fabric Gallery, building on ANTHILL’s longstanding relationships with weaving communities across the country. In Argao, Cebu, MWEW established the program’s first training centre in the Philippines, the Maybank Women Eco-Weavers ANTHILL Weaving Training Centre, which today supports 30 women weavers while advancing weaving skills, production and zero-waste practices. From Cebu, MWEW expanded to Bukidnon, bringing abaca cultivation alongside weaving to strengthen the connection between the community’s farmers, natural fibre and women weavers. The programme subsequently expanded to the QC-ANTHILL Textile Circularity Hub in Payatas, Quezon City, which engages 20 women weavers and advances textile circularity and zero-waste practices. Most recently, MWEW extended its reach to Abra, where 40 women weavers have been engaged and
are being prepared for training. Together, these communities reflect MWEW’s growing footprint in the Philippines and how the program continues to adapt to the distinct materials, weaving traditions and opportunities within each community. Across MWEW communities in the Philippines, participating women weavers have recorded a 176% average increase in monthly income, from approximately US$49 to US$135 per month. ANTHILL Fabric Gallery has worked with the Daraghuyan Bukidnon Tribe since 2011, supporting the community’s women artisans and traditional weaving practices. This longstanding relationship now forms part of the wider MWEW program in the Philippines. “Our partnership with Daraghuyan has always been about more than textiles. It is about building a relationship with a community and supporting the people who carry this living tradition,” said Joy Anya Lim, Co-Founder and Managing Director of ANTHILL Fabric Gallery. “The opening of this training center represents an important next chapter. It gives the weavers a dedicated space to continue practising their craft, strengthen production and create new opportunities, while our work with the abaca farmers connects the fiber that comes from the land to the fabric created on the loom,” she added. Felino James Marcelo, President and Chief Executive Officer, Maybank Philippines Inc. said “We are proud to support this milestone for the Daraghuyan community and to see MWEW continue to grow in the Philippines. This progress reflects the strength of local collaboration between the community, Maybank Foundation, ANTHILL, the Malaybalay City Government and City Agriculture Office, and the Philippine Fiber Industry Development Authority (PhilFIDA), creating greater opportunities for the women weavers and abaca farmers while helping preserve a cultural tradition deeply rooted in the community.” The launch brings together women weavers, abaca farmers, tribal leaders and local partners, with community rituals led by Bae Inatlawan, Daraghuyan Bukidnon Tribal Leader, recognition of newly trained weavers and farmers, and the official unveiling of the training center. “For our community, weaving carries the knowledge and stories of our people. This centre gives our women a place where that knowledge can continue to be practised and shared with the next generation, while strengthening the connection between our land, our abaca and our weaving tradition,” said Bae Inatlawan. Since its launch in 2016, MWEW has grown into a regional economic ecosystem spanning Cambodia, Indonesia, Laos, Malaysia and the Philippines. As of 30 June 2026, it has trained 2,617 women weavers and supported 3,024 farmers, with USD5.6 million (RM22.9 million) invested across traditional weaving, natural fibre cultivation, natural dyeing, skills development, sustainable production and market access. The program has also supported the cultivation of more than 785,000 mulberry trees and over 40,000 cotton bushes, alongside the growing development of abaca cultivation in the Philippines, strengthening the natural fibre ecosystems that underpin traditional weaving communities across ASEAN. MWEW also advances Maybank Group’s ROAR30 sustainability ambitions by supporting inclusive economic participation, sustainable livelihoods and resilient communities while preserving ASEAN’s cultural heritage. The opening of the Bukidnon Training Centre builds on this decade-long journey, bringing MWEW’s regional experience together with the knowledge, resources and weaving traditions of the Daraghuyan community.
EARLY one in two Filipino adults is living with overweight or obesity. According to the latest National Nutrition Council’s report on the Department of Science and Technology–Food and Nutrition Research Institute’s 2025 Updating Survey, prevalence reached 44.5 percent, up from 39.8 percent in 2023, underscoring the growing need for accessible care. Addressing this burden requires access to medical assessment, appropriate treatment and ongoing support. For patients prescribed medicines, both cost and the ability to obtain their treatment consistently can affect access to care. Against this backdrop, Novo Nordisk Philippines has announced lower suggested retail prices for the 0.25 mg, 0.5 mg and 1.0 mg strengths of its onceweekly semaglutide formulation indicated for weight management, effective October 2026. Semaglutide (Wegovy®) is a prescription medicine. For weight management, the formulation is indicated for eligible patients alongside a reduced-calorie diet and increased physical activity. A physician must assess treatment suitability, explain the benefits and risks, and guide dosing and follow-up. The prevalence of overweight and obesity does not, by itself, determine eligibility for medication. The new suggested retail price for the 0.25 mg and 0.5 mg strengths is P8,188 per pen, down from P9,900, a reduction of approximately 17 percent. The suggested retail price for the 1.0 mg strength is P9,279 per pen, down from P9,900, or approximately six percent. Each pen contains four doses of its labelled strength, providing four weeks of treatment when used once weekly as prescribed. Eligible senior citizens (SCs) and persons with disabilities (PWDs) receive a further 20 percent discount, bringing the confirmed prices to P6,550 per pen for the 0.25 mg and 0.5 mg strengths, and P7,423 per pen for the 1.0 mg strength. The affected strengths are used during the early stages of the prescribed dose-escalation schedule. The equal suggested retail prices for the 0.25 mg and 0.5 mg strengths mean there is no increase in the suggested price per pen at that prescribed dose step. Costs at subsequent strengths may differ and should be considered when planning ongoing care.
“Medicine costs are one part of the access challenge,” said Wei Sun, General Manager of Novo Nordisk Philippines. “Reliable availability, appropriate prescribing and ongoing medical support also matter. The price adjustment should be understood as one step within that broader need.” The price adjustment sits alongside Novo Nordisk Philippines’ Live Lighter™ campaign, which aims to build understanding of obesity as a disease and encourage Filipinos to seek appropriate medical guidance. Disease awareness and access to care are connected: recognising the need for support is a first step, while obtaining assessment, appropriate treatment and follow-up enables people to act on that understanding. Lower prices can reduce a financial barrier, but broader access also depends on patients being able to reach healthcare professionals, obtain their prescribed medicine through licensed pharmacies and receive follow-up care. Planning for treatment should therefore consider medicine availability and the overall cost of care, including consultations, any necessary tests and subsequent prescribed doses. Obesity care should be based on individual health needs and may include nutritional support, physical activity, behavioural interventions, medicines or other treatment options, as clinically appropriate. A medical consultation can help patients understand their options and develop a care plan suited to their circumstances. Patients prescribed semaglutide should obtain it only from licensed pharmacies with a valid prescription. They should confirm the prescribed strength, stock availability and actual retail price with the dispensing pharmacy, including applicable senior citizen or PWD discounts. Questions about dosing, side effects or interruptions in treatment should be discussed with the prescribing physician.
Enchanted Kingdom celebrates 31 years of magic with Fiesta ng Saribuhay anniversary show
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NCHANTED Kingdom, the first and only world-class theme park in the Philippines, proudly marked its 31st anniversary on October 17, 2026, with Fiesta ng Saribuhay, a vibrant celebration of the county’s culture, people, and biodiversity. As a homegrown Filipino company, the theme park reaffirmed its pride in the country’s rich cultural and natural heritage through an enchanting lineup of local festivities, seasonal entertainment, in-park decor, and other immersive experiences highlighting the classic local traditions, world-class talent, shared values, strong community spirit, and the natural beauty of the Philippines. “Celebrating 31 magical years is not just a milestone for EK. It is also a celebration for the Filipinos who have been an integral part of our story for the past three decades. As reflected by the Philippine eagle and in the lyrics of our anniversary song, Lipad, we want to showcase the best of the Filipinos, such as the values of Lakas, Talino, at Katatagan, among the many qualities that make us uniquely enchanting, through our upcoming experiences and offerings in the years to come,” said Nico R. Mamon, EK’s 31st Anniversary Chairman. The festivities are anchored at the continuous enhancements at the Park’s award-winning flying theater, AGILA The EKsperience: SARIBUHAY. Strengthening its powerful call for Filipinos to appreciate and protect the environment, EK finally opened the attraction’s newly updated areas, including a new entry experience, the Ang Kwento ng Agila walkthrough that shares even more stories behind the attraction and the world of the Philippine eagle, and the PUGAD concept store with its improved thematic experience. The main anniversary celebration on October 17 kicked off with a warm welcome at the Park, as a lively Filipino dance fiesta greeted guests at the front gate and Victoria Park. In the afternoon, EK Storyverse Characters joined their friends from the Saribuhay Village in spreading the festive spirit throughout the Park with the grand Fiesta ng Saribuhay Anniversary Parade. The parade ushered in the Fiesta ng Saribuhay Concert at the Spaceport Grounds, an enchanting nighttime show that highlighted incredible Filipino music and
talent across various OPM genres. Performers included promising soloists FYNE and Prince Liu, indie band Sacred Red, electrifying P-pop girl group XONARA, and the multiawarded R&B singer-composer Dionela. EK’s homegrown talents also performed their newly released songs for the Park’s 31st Anniversary. The allmale vocal group Kingsmen opened up the show with the festive remix of their song, Saribuhay, and the P-pop girl group SMS brought national pride and power with Lipad. These two tracks are now available for streaming on Spotify, Apple Music, YouTube Music and Amazon Music. Serving as the spectacular finale was the Lipad ng Agila: A Pyromusical Fiesta, where the parkgoers marveled at the iconic figure of the Philippine eagle circling up in the night sky with the vibrant fireworks display. Fiesta ng Saribuhay: EK’s 31st Anniversary Celebration is made even more magical with our co-presentors, Coca-Cola, Universal Music Group Philippines, and One Platinum Corporation. The following brand sponsors also extended their support for this milestone celebration: McDonalds, Maya, Hotel DreamWorld, Harvey, Cherifer, Ate Rica’s Bacsilog, Baga Burger, Ceelin Gummies, C-Lium Fibre, Poten-Cee Gummies, Entrasol, Farlin, SD13 Advertising Corp, JCB, Nurture, Australia’s Own, Barilla, Tulip, Ellite Ads Corp., Woods’ Peppermint Lozenges, McCormick, Fitbar, Halls, Zim, Caliraya Resort Club Inc., Thoy Entertainment Productions, Reyes Barbecue, Marble, Mello, Sucere, Bang’s T&J Salon Professionals, and Bear Brand Fortified Milk. Also, a special thanks to these tenant partners: Magnolia Ice Cream Flavorhouse, Fortune Bakeshop, Lil’ Orbits Mini Donuts, Zenzu, Dairy Queen, Shakes Station, Auntie Anne’s, KarateKid, Shakey’s, Cafe Mary Grace, Teho Apparel, Mr. Pluffy, Cast Members Multipurpose Cooperative (CCMPC), ViewTrue Express Digital Imaging, Midway Mirror Maze, Xtreme Paintball Philippines, Sigue Trading, Alcatraz, Potato Corner, and Po Jang. For more information and updates on EK’s 31st Anniversary Celebration and its other events and offerings, visit https://www.enchantedkingdom.ph and EK’s official social media accounts @enchantedkingdom. ph for Facebook and TikTok, and @ek_philippines for Instagram.
Sports BusinessMirror
mirror_sports@yahoo.com.ph | Editor: Jun Lomibao
Thursday, October 29, 2026
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SHIN FOUR STROKES CLEAR
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ICAH SHIN shook off a shaky start with a birdie-pareagle finish on his opening nine before sustaining his charge on the front to card a 68 on Wednesday and tighten his grip on the lead in the International Container Terminal Services Inc. (ICTSI) Apo Golf Classic in Davao. Shin assembled a 12-under 132 total for a four-shot lead with 36 holes left, putting himself in position to claim his second Philippine Golf Tour title of the season after winning
the TCC Invitational last January. “I think if I just hit it well, I have a really good chance,” said Shin, who considers Apo Golf and Country Club his home course. “Yeah, I mean, it’s my home course, so it feels comfortable.” Last week’s South Pacific winner Clyde Mondilla shot a second straight 69 for solo second at 138, while Sean Ramos carded a 69 for 139. Starting on No. 10, Shin made par on his first two holes before trading bogeys and birdies in a shaky stretch that allowed Mondilla and Ramos to close within one shot.
Rose Jean bags bronze in IWF world tourney
Forty-five players made the cut at 152. Jhonnel Ababa, the 2024 champion, and amateur Jacob Rolida finished at 144. Jeremy Tandoy and Kim Tae Soo matched 70s for joint fourth at 140, while Jeffren Lumbo and Collin Wheeler carded identical 71s to catch Russell Bautista, who matched par 72, at 142, and Negros leg winner Art Arbole carding a 70 to tie Angelo Que and amateur Alex Bisera, who matched 71s, at ninth with 143s.
Kim gains share of lead with Avaricio
By Josef T. Ramos
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OSE JEAN RAMOS opened the Philippines’ Olympic weightlifting qualifying campaign with a bronze medal at the International Weightlifting Federation (IWF) World Championships on Tuesday at the Ningbo Olympic Center in China. The 20-year-old Ramos, younger sister of national weightlifter Rosegie, placed third in the women’s 49-kg snatch with an 86-kg lift. North Korea’s Ri Song Gum swept the gold medals in snatch (92 kg), clean and jerk (119 kg), and total (211 kg). China’s Zhao Jinhong took all three silver medals with 91 kg in snatch, 116 kg in clean and jerk, and a 207-kg total. Ramos placed ninth in clean and jerk with 92 kg and fifth overall with a total of 181 kg. Although the women’s 49-kg division is not an Olympic weight class for the 2028 Los Angeles Games, Ramos can carry her accumulated ranking points to the Olympic 53-kg division. Asian Games bronze medalist Albert Ian de los Santos will compete in the non-Olympic men’s 70-kg division on Friday. His ranking points can count toward the Olympic 75-kg category, provided he meets the qualification requirements. “They must compete in at least five Olympic qualifying events. If they compete in a non-Olympic weight class, they can carry their ranking points once they compete in an Olympic weight class,” Coach Allen Diaz told the BusinessMirror on Wednesday. The Los Angeles 2028 qualifying program features six weight classes each for men and women. The men’s divisions are 65 kg, 75 kg, 85 kg, 95 kg, 110 kg, and +110 kg, while the women’s are 53 kg, 61 kg, 69 kg, 77 kg, 86 kg, and +86 kg. Unlike the Paris Games, where the top 10 athletes in each weight class earned qualification slots, Los Angeles 2028 will offer slots to only the top eight. Two-time Olympian Elreen Ann Ando will compete in the women’s 61-kg division on Saturday. Rosegie Ramos is scheduled to compete in the 53-kg division on Thursday, while Kristel Macrohon will see action in the 69-kg division next week.
The American regained control with a birdie on No. 16, a par on No. 17 and an eagle on the par-5 18th, hitting a 4-iron from about 230 yards before sinking a 15-foot putt. “Today was actually worse than yesterday, but I got some lucky breaks and made some really good par saves,” Shin said. Despite his commanding position, Shin remained cautious about his chances. “I was feeling pretty confident, but like I said, I didn’t really hit it too well today. I just managed the round really well and got through it.”
CHANELLE AVARICIO adds a 72 to her opening 70. NONIE REYES
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IM SEOYUN birdied the final hole to catch Chanelle Avaricio on Wednesday to set up a thrilling final-round showdown in the International Container
KIMI ANTONELLI has nine wins in 18 races. AP
Terminal Services Inc. (ICTSI) Apo Golf Classic in Davao. Kim fired a 71 to gain a share of the lead at 142, as Avaricio carded a 72 after a costly three-putt on the par-5 18th. Avaricio appeared poised to seize control after stringing together three birdies in a four-hole stretch from No. 14 to regain the lead. But Kim answered with a clutch birdie on the closing hole, sinking a 12-foot putt to force the tie. Kim hit 15 greens in regulation but rued missed birdie opportunities that could have given her the outright lead. “My approach shots worked pretty well today. I hit 15 greens and had a lot of birdie chances, but I struggled with my putting. The putts just weren’t dropping, so it was kind of sayang,” she said. Looking ahead to the final round, Kim plans to embrace the occasion rather than dwell on the pressure. “I would enjoy my game and try to embrace the moment,” she said. Avaricio, meanwhile, remained
upbeat despite her closing miscue as she pursues a possible fourth title of the season. “I three-putted the last hole, but okay lang. The rest of my putting really clicked because I missed a lot of greens. I think, overall, I only hit 10 greens today,” said Avaricio, who had four birdies and four bogeys. She also praised Kim’s performance and stressed the importance of staying focused. “Kim is a really good player. Actually, she played really well today. Yung putting niya wasn’t dropping lang. I’ll just try to have fun, you know, focus on myself, and wish her the best,” she said. Avaricio believes patience and composure will be crucial in the title battle. “I think it will boil down to patience and, you know, how well you handle the pressure. Honestly, I’ll just do my best tomorrow, and hopefully, I’ll make more birdies and fewer mistakes,” she added. Princess Superal stayed within striking distance after rallying to a 71 and a 144 total, tying erstwhile co-leader Harmie Constantino, who slipped with a 74. They trail the leaders by two strokes. Daniella Uy carded a 72 for 146, followed by Yvon Bisera at 147 after a 73 and Sarah Ababa at 148 with a 72.
MICAH SHIN hits an eagle, four birdies and two bogeys. NONIE REYES
Coleman joins Ajido as flag-bearer in Dakar YOG opening ceremony
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HE Philippines will have not just one, but two flag-bearers— Jamesray Mishael Ajido and fellow swimmer Riannah Chantelle Coleman—during the parade of athletes in the Opening Ceremony of the Fourth Youth Olympic Games (YOG) on October 31 in Dakar. The International Olympic Committee (IOC) has been advocating on a male and female athlete to bear their countries’ colors during the ceremony. Philippine Olympic Committee
president Abraham “Bambol” Tolentino has earlier named Ajido as the lone flagbearer and added Coleman because both athletes will be in Senegal in time for the opening ceremony at the Abdoulaye Wade Stadium in Diamniadio. Joining Ajido and Coleman on an arduous 29-hour flight from Manila via Istanbul to Dakar on Wednesday night is wushu athlete Angel Polo and their coaches. The other athletes—artistic gymnastics’ Tchelzy Maayo and Hillarion Palles III, cycling’s Maritanya Krog, athletics’ Pi Durden Wangkay and Naomi Marjorie Caesar and windsurfing’s Jade Justine Justiniane will be flying to Dakar on November 4.
Still in the hunt Milwaukee Brewers’
Cooper Pratt is caught stealing as Tampa Bay Rays second baseman Richie Palacios catches the throw during the ninth inning of Game Four of the World Series on Tuesday in St. Petersburg, Florida. The Rays staved off elimination with a 4-3, 12-inning win that forced Game 5. AP
Passed over by Ferrari as a child, Antonelli changing Italy racing story
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IMI ANTONELLI is on the verge of becoming Formula 1’s youngestever champion, and the first Italian to win the title since Alberto Ascari in 1953. For a country full of passionate racing fans, the 73-year wait for an Italian champ is puzzling. Over decades without a title contender to cheer, Italy’s legions of passionate “tifosi” fans have worn red to support Ferrari as a team, rather than individual Italian drivers. Now the 20-year-old Antonelli, reportedly rejected by Ferrari as a child before joining Mercedes, is changing Italy’s racing story. Ahead of Antonelli almost certainly securing
the title Sunday in Mexico City, here why it’s taken so long for an Italian to win again.
The glory days of the 1950s, and why they ended
ITALY was the center of the racing world when the World Drivers’ Championship began in 1950. Just five years after the end of World War II, the fledgling Ferrari brand was one of a clutch of teams in Italian racing red fighting for wins. Italian Nino Farina won the first title for Alfa Romeo, and Ascari added two more for Ferrari in 1952 and 1953. The decade was dominated by Juan Manuel Fangio, F1’s first superstar driver and an Argentine of Italian heritage, who won five championships in his 40s, a feat never seen since. Financial issues forced Alfa Romeo, Lancia and Maserati out of F1, leaving Ferrari as the
sole Italian constructor by 1960 with fewer opportunities for Italian drivers. Small British teams, mocked by founder Enzo Ferrari as “garagistas” for being run out of backyards and garages, revolutionized F1 with light and nimble designs with the engine behind the driver. By the late ’60s, they were dominant. There have been other teams based out of Italy—including Racing Bulls today—but Ferrari has remained the country’s only genuine title contender.
Catholic newspaper part of the backlash to F1’s deadliest years
UNTIL the late 1970s it was rare for a season to pass without at least one Formula 1 driver being killed after crashing in races or tests. Deaths of Italian auto racing stars—
including Ascari, killed testing a Ferrari sportscar in 1955—caused a backlash in Italy. The influential Catholic Church newspaper L’Osservatore Romano issued a blistering condemnation of auto racing after the 1958 death of Italy’s Luigi Musso, who was driving for Ferrari. The newspaper likened auto racing to the ancient Roman god Saturn who “continues to devour his own children,” with Musso as one of the victims of a quest to make money regardless of the human cost. “It is a matter of morality if we consider that, beyond any pretext of science and progress, there is an immediate, concrete industrial and economic interest in such appalling undertakings—an interest that turns the stopwatch into a means of advertising, even if it is linked to the statistics of the victims,” the newspaper wrote. AP
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Thursday, October 29, 2026 • Editor: Gerard S. Ramos
Show BusinessMirror
businessmirror.lifestyle@gmail.com • www.businessmirror.com.ph
In ‘Always Lalisa,’ K-pop superstar Lisa comes of age and embarks on a new career in acting
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BY JAKE COYLE The Associated Press
ORONTO—Even people unfamiliar with the K-pop superstar Lisa, of the group Blackpink, have probably experienced her global sway. In the spring of 2024, the Thai singer and rapper was photographed with a strange little plush monster hanging from her handbag, grinning with serrated teeth. That was all it took for the Labubu craze to be born. “I’m sorry!” Lisa says. “But I can’t help it. It’s really cute. We’re kids!” It’s the morning after the Toronto International Film Festival premiere of Always Lalisa, a Sony Music Vision documentary opening for a limited engagement in theaters on October 12 before streaming on YouTube Premium. Director Sue Kim follows Lisa, whose real name is Lalisa Manobal, through a pivotal year as she launches her first solo album, 2025’s Alter Ego, forms her own management company, plays Coachella, sings at the Oscars and makes her acting debut in The White Lotus. The film also portrays a surreal evolution for Lisa, who was already in her mid-20s and one of the most famous faces in the world as the film begins. After years of strict management of her image under the South Korean label YG Entertainment that governed everything from her driving to her dating, it shows Lisa relishing a newfound independence. “I learned so much on my own. I tried things that I never had a chance to try. It was challenging, but I’m just so proud of myself,” says Lisa, now 29. “Finding my voice, yes, and finding confidence. I’ve been with Blackpink for almost 10 years. Then I wanted to do my own solo project, but I wasn’t confident and I didn’t know where to start.” Lisa seems typically bubbly and bright during an AP interview—“I have my chips and my matcha latte. I’m good”—but she’s still shaking off some of the nerves of debuting the documentary. It’s easily the most intimate look yet into her life—her parents appear in it—and the full-life exposure is new for her. “It’s embarrassing when I see the footage when I was little and dancing,” she says, laughing and shaking her head.
AFTER A K-POP UPBRINGING, A ‘DELAYED COMING OF AGE’
KIM, a veteran documentarian and Detroit native
raised by Korean immigrants, has spent enough time in the K-pop world to understand it. She produced the Apple TV series K-pop Idols, which documented the rigorous training of K-pop hopefuls. But Kim, who also directed 2024’s The Last of the Sea Women, has an outsider’s perspective on some of K-pop’s unique pressures. “For us, it’s sort of inconceivable that you’d be mad at an entertainer for having a romantic relationship or driving,” Kim says. “Don’t you want them to get places?” Filming Lisa, she thought, would be a chance to show “a delayed coming of age.” “I knew that we’d see her testing her boundaries, figuring out who she is, figuring out where she wants to take her life and her career, and also kind of figuring out what works for her as a human,” says Kim. “I loved the idea that we would be able to witness that with her as she was experiencing it.” Always Lalisa chronicles some of Lisa’s growing pains. Uncertain how to present herself as a solo artist, she decides to showcase numerous identities on Alter Ego, to mixed reviews. Pitchfork called it “the generic embodiment of a pop star.” Global fame has also meant intense security: When Lisa wore a blacklace bodysuit to the 2025 Met Gala, online critics claimed incorrectly that Rosa Parks’ face was on her tights. But in person, Lisa tends to win people over. Her Coachella set was mostly celebrated, as was her performance last month at the MTV VMAs. As a solo act, she’s thrived. “If I want to do something, I just do it,” she says. “I don’t have to ask for permission or anything. If I have an idea, we make it happen. It’s fun to do whatever you want to do. Like, no limits.”
IN ACTING, ‘WHITE LOTUS’ IS ONLY THE START
THAT’S also increasingly meant acting. For the Thailand-set third season of Mike White’s HBO series The White Lotus, Lisa played Mook, the resort staffer whose flirty scenes with a security guard (Tayme Thapthimthong) reverberate across the plot and themes. “I’ve been dancing and singing since I was little. But I feel like acting is something new to me,” Lisa says. “It’s just crazy that I got the role. I have to thank Mike White that he saw something in me. I’m so blessed to be in that show.” White, the series creator, was likewise skeptical at
SHEA VALERIO
ANTHONY CONSTANTINO
By Eugenia Last
CELEBRITIES BORN ON THIS DAY: Ben Foster, 46; Gabrielle Union, 54; Winona Ryder, 55; Richard Dreyfuss, 79. HAPPY BIRTHDAY: Avoid too much or too little. Balance, equality and meeting in the middle will help you zigzag your way through ups and downs masterfully this year. The more you align yourself with practicality, patience and a passionate attitude regarding what’s fair and best for you, the easier it will be to flourish. Life choices matter, and the right attitude will carry you forward. Build your destiny with optimism, love and faith. Your numbers are 6, 17, 21, 26, 30, 34, 42.
ARIES (March 21-April 19): Step out of your comfort zone and do things differently. Let your uniqueness shine through, and present what you can offer with pride and confidence. It’s all about how you engage with others. Set high standards, encourage others to rise along with you and see what you accomplish. If you take the first step, your entourage will follow. ★★★★
TAURUS (April 20-May 20): Speak up and take care of unresolved issues before they turn into something you cannot control. Avoid costly entertainment or someone trying to sell you something you don’t need. Pay attention to who contributes and who tags along for the accolades. Aggression won’t move you forward, but consistency and taking responsibility will. Do your thing and do it well. ★★★
GEMINI (May 21-June 20): Implement change with finesse, integrity and gratitude. Knowledge, accuracy and living up to your promises will dictate the returns you receive. Take nothing for granted, and let your enthusiasm draw the right people to whatever you decide to do. You have plenty to gain if you maintain balance and equality in both personal and professional relationships. ★★★
CANCER (June 21-July 22): Take your time, observe what’s unfolding around you and be discreet. Venture out and gather information and insight into something that can help you bring about a positive change. Personal growth and updating how you present yourself to others will pay off. Turn your thoughts into reality and an adventure into a lifestyle change. ★★★
first. In the documentary, he says he initially rejected the idea of a K-pop star as stunt casting. But then he met her. “Mike White and I had the same takeaway,” Kim says. “She is so improbably this pure, sweet person that exists in this rarefied world that can be so harsh and scary to be yourself. There’s something so innocent about her, and it’s who she really is. I know so many fans of her feel so protective of her: ‘Protect Lisa at all costs!’ I kind of get it. I feel that way about her, too.” Lisa stars next in a Notting Hill-inspired romantic comedy for Netflix, penned by Katie Silberman. Also for Netflix, she co-stars in the upcoming South Korean action thriller Tygo, by director Lee Sang-yong. “I’m super open to everything,” she says. “I love Notting Hill, I love,” Lisa adds. “I’m not that picky. I can watch animation. I love a Disney movie. Horror movies, I’m not a big fan of. Because I’m a kid.”
NEW HOUSE, NEW HOUSEMATES: GMA NETWORK, ABS-CBN STUDIOS LAUNCH ‘PINOY BIG BROTHER COLLAB 3.0’ THE highly anticipated Pinoy Big Brother Collab 3.0 kicked off with a grand premiere on October 24, revealing 16 housemates who are set to embark on an exciting journey highlighting both humanity and authenticity inside the iconic PBB house. From its successful housewarming on October 20, a brandnew season arrives in a new era for Pinoy Big Brother. The kick-off started with the grand reveal of the new interior of the house followed by a show-stopping number with Carmelle Collado, Heath Jornales and Will Ashley as they performed “Pinoy Ako,” the iconic theme song of Pinoy Big Brother. PBB Collab 2.0 Big Winners Caprice Cayetano and Lella
TODAY’S HOROSCOPE
Ford also joined the production number. A big twist was then announced that the mix of housemates for this season is a combination of those who joined the online auditions, as well as celebrities that were invited to audition. This was followed by an introduction of this season’s first 16 official housemates. As Big Brother welcomed them, he announced who becomes part of the Kapuso and Kapamilya group of housemates. The Kapuso housemates are Anthony Constantino, Bela Arcal, Ethan Benares, Lans Nagal, Mikee Quintos, Nicole Fortuna, Raheel Bhyria, and Winwyn Marquez. The Kapamilya housemates are Calix
Esguerra, Ang Rampanalong Apo ng Pampanga; Cianne Dominguez, Gehlee, Jeo Ong, Nathan Garcia, Primo Alterado, Robbie Jaworski, and Shea Valerio. It was later announced that additional housemates are going to be introduced in the coming weeks. Adding to Pamilya ni Kuya alongside Bianca Gonzalez, Robi Domingo, Melai Cantiveros, Enchong Dee, Alexa Ilacad, and Gabbi Garcia, is Kapuso and Sparkle artist Michael Sager. Viewers can watch Pinoy Big Brother Collab 3.0 on GMA Prime weekdays at 9:35 pm, Saturdays at 6:15 pm, and Sundays at 4:55 pm. Watch the AllAccess Livestream everyday via iWant from 8am-12mn.
LEO (July 23-Aug. 22): Actions speak louder than words. Do what you do best, and present and promote yourself with dignity and charisma. Hard work will grab attention and help you pay the bills. It’s time to open doors. Journey down paths that can help you connect with other proactive people, and set your sights on what matters most. Leave nothing to chance. ★★★
VIRGO (Aug. 23-Sept. 22): Speak up, get approval, abide by the rules and stick to protocol. You have plenty to gain if you ignore those trying to derail your efforts and pour your energy into finishing what you start and promoting your endeavors to the powers that be. An excellent memory is handy, but get what you want in writing. ★★
LIBRA (Sept. 23-Oct. 22): Keep the momentum flowing. Don’t slack when time is of the essence. Laziness will be seen as weakness, so buckle up and deliver the charm you possess and the intelligence and genius you can bring to the table. Discipline, creativity and nuance will pay off through the connections you make. Enforce a positive lifestyle change. ★★★★★
SCORPIO (Oct. 23-Nov. 21): Take a moment to get your thoughts in order before starting a discussion that can influence your position, reputation or relationship with someone special. Keep life simple. If you consider adopting a minimalist lifestyle, you’ll discover that having more free time and money lead to enjoying what life has to offer. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): Show off your attributes and be effervescent, and you’ll have an impact on those you encounter. The sky’s the limit if you present, perform and promote what you can do. Don’t limit yourself when personal and financial growth are within reach. If you love yourself, everyone you meet will follow suit. ★★★
CAPRICORN (Dec. 22-Jan. 19): Finish what you start before you make demands. Size up the competition, reduce any momentum they have and secure your position. Proving your worth will help you gain the acceptance and perks that you desire. It’s the order in which you do things that determines success. ★★★
AQUARIUS (Jan. 20-Feb. 18): A change will do you good. Diverting your attention to something that brings you joy will push you down the right path. Having gratitude will attract positive energy and people who lift you instead of those who bring you down. Saying less and doing more will satisfy your soul and encourage you to take responsibility for your happiness. ★★★★★
PISCES (Feb. 19-March 20): Scrutinize information from unknown sources. It’s your call to offer legitimate information if you expect to get high returns. Don’t feel obligated to pay for others or let unrealistic promises tempt you to overspend. Use intelligence when dealing with money, health and legal matters. Refuse to let what others do disrupt your life. ★★ BIRTHDAY BABY: You are opportunity-driven, ambitious and marketable. You are persistent and protective.
‘any way you slice it’ BY DREW SCHMENNER
The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 Bond villain’s hideout 5 Baseball hats 9 22-Down, in Germany 13 Snowballs, say 14 Ice Cube’s first name 16 Trucks with big loads 17 Long-term genetic storage process (In this answer, note letters 2-6, minus letter 4) 19 Jennifer Lawrence played it in her school band 20 Protect 21 Japanese sport 23 That, in Spanish 24 “Listen up!” (... letters 3-8, minus letter 7) 30 Total hoot 32 Birth control option: Abbr. 33 Caught 40 winks 34 Vaccine pioneer Jonas 35 Kaitlan Collins’ channel 36 Like dental exams 37 Kid on “The Andy Griffith Show” (... letters 2-6, minus letter 4) 42 “Neato!”
45 Key next to F1 46 Daytime TV melodrama 47 Kauai greeting 49 Awards for athletes 51 Coke can color 54 ‘80s supermodel (... letters 3-7, minus letter 6) 56 “That’s not good” 58 Give off 59 Chalkboard material 61 Stand up 62 Bed that may have wheels 63 Bottoms with wide bottoms (... letters 3-8, minus letter 6. Bonus: Note what the excluded letters spell!) 65 Kerfuffle 66 Caterpillar, e.g. 67 Fencing blades 68 Hi-___ image 69 First occurrence 70 ___ cloth DOWN 1 They’re bad luck to walk under 2 Memory loss 3 “Silly me!” 4 Spa cover-up
5 Residence in a building 6 Interrogate, say 7 ___ Beta Kappa 8 Had a feeling 9 Piece of cereal for Toucan Sam 10 Gently tease 11 Before now 12 Utilize 15 Water, in Spanish 18 Raggedy Andy’s sibling 22 “___ Robinson” 25 Where waiters find cabs? 26 Look for treasure 27 German mister 28 Hoppy brew 29 Gateway Arch’s home, briefly 31 Bout result, for short 35 Not trans 38 Ring, as church bells 39 Viper by the Nile 40 Swung between two extremes 41 Eyelid hair 42 F1 vehicle 43 Served with a scoop 44 Flavored chip brand 48 Scorching
50 “Feed a cold, ___ a fever” 51 “When Harry Met Sally...” director Rob 52 Occasion for egg decorating 53 Like gala attire 55 Narnia’s lion king 57 Curtain 60 Suckler’s target 63 Gecko : Geico :: ___ : Progressive 64 Snoopy, to Charlie Brown Solution to today’s puzzle:
www.businessmirror.com.ph • businessmirror.lifestyle@gmail.com
Parentlife BusinessMirror
Editor: Gerard S. Ramos • Thursday, October 29, 2026
DIARY OF A MOM WITH NO LIMITS:
Cross my heart, hope to live I
N October 2018, I wrote about a movie that unexpectedly made me reflect on life, death and the people we love. As All Saints’ Day and All Souls’ Day approach, I return to those thoughts. My husband is a huge Bea Alonzo fan, so despite a hectic weekend in 2018, we watched First Love, starring Bea and Aga Muhlach. Two things stayed with me: the characters’ promise, “Cross my heart, hope to live,” rather than “hope to die,” and their “Dahil” lists—the reasons they wanted to keep living, and the dreams they helped each other fulfill. Why must people leave before we are ready? I first asked this at six, when a cousin my age died. Later, I grieved the passing of my grand aunt, grandfather, childhood mentors and nanny, Manang Eyang. I understood loss as someone left behind. The movie made me imagine the other side. What did my loved ones feel when they learned that time might be short? What fears did they carry quietly? Did they have their own “Dahil” lists? Did I help them cross off even one wish? I remember joining wholeheartedly in their hope to live. Perhaps my presence gave them another reason to stay. Afterward, their love and lessons continued to guide and provide the embrace to the fearful child I once was. Recently, an airport encounter brought these thoughts back. I met a senior woman in a wheelchair who was heading home to Seattle. She mentioned painful knees and a recent stent procedure. Then she casually told me she had stage 4 kidney cancer. “I am 71 and I am not going to live long,” she said, before adding that she felt lucky to have been given eight to 10 years. What stayed with me was her smile. I had never seen someone face impending death with such apparent peace. I did not know her struggles, yet she showed me that gratitude and uncertainty can converge this way. Perhaps courage can mean accepting what we cannot control while cherishing what remains. What if we lived every day seeing time as a precious friend? Because I experienced loss early, I have always been open about my own mortality. At 26, I had a “Dahil” list that eventually grew to 100 dreams, thanks to the Asian Institute of Management. But I kept postponing them: when I turn 50, I will create art; when I turn 50, I will write my autobiography. My meditation teacher and friend, Noel Resella, heard me repeat those plans for years. He challenged me in my 30s with a simple question: Why wait? That year, I mustered up the courage to prepare my resume and apply for my first writing job. At breakfast in Shanghai in 2015, I read an Elle magazine feature on women shaping the future. A
MOVIE poster of First Love from IMDb; one of my “Dahil List” attempts to be a painter; 2015 Elle magazine where I read an article which asked the question, “What would you do if you were not afraid?”
question posed by a Facebook executive struck me deeply: “What would you do if you were not afraid?” I started Mommy No Limits initially as a way to leave my children and their children my story. It had become unexpectedly cathartic. Writing helped me feel grateful for my past, attentive to my present and more intentional about my future. I began making choices: to hear my own voice despite the fear of mistakes; to love my family wholeheartedly despite the possibility of hurt; to pursue art and music without worrying about talent; to coach without needing everyone’s approval; and to write in the hope of inspiring others, even if I might be judged. Fear did not disappear. I learned to ask whether that thud in my heart was a warning to retreat or an invitation to grow. I want my children to know that life is not a rehearsal. We need not wait for the perfect age, perfect courage or perfect circumstances to tell someone we love them, mend worthwhile relationships or begin a dream. As we visit graves and offer prayers, we can honor our loved ones by living with intention. Ask an older relative to tell a story. Thank a mentor while there is time. Take the family photograph. Make the phone call. Start something meaningful today. These small acts may become another person’s most treasured memories. This year, that message feels especially personal. I experienced the unexpected deaths of two vibrant women I had the privilege of working with. I worked with Armi for close to a decade, beginning when she was in her mid-50s. Already a cancer survivor, she hoped for a second wind in her career. Our unique working relationship bore fruit in many successful projects, but what I treasure now is the person behind those accomplishments—her determination to keep contributing and beginning again. Suzanne, whom everyone called Toots, was the
LONDON’S BREAD AHEAD OPENS ITS FIRST PHILIPPINE BAKERY IN MANILA THIS NOVEMBER THE wait is almost over. By November, Bread Ahead–the renowned British artisan bakery and baking school founded in London’s iconic Borough Market in 2013–will officially open its first bakery in the Philippines at Glorietta 4, Ayala Center, Makati City, in partnership with Good Eats by SSI. The opening brings Bread Ahead’s celebrated sourdough pizzas, legendary filled doughnuts and artisan baking expertise to Filipino customers for the very first time. For more than a decade, Bread Ahead has built a devoted following in London, attracting food lovers, tourists and loyal regulars who queue for its signature sourdough, famous filled doughnuts and artisan bakery creations. Born in Borough Market–one of London’s most iconic food destinations–Bread Ahead has become a must-visit stop for food lovers from around the world. Fans have even been known to head straight from the airport for a taste of its viral Crème Brûlée Doughnut. For years, Filipinos visiting London have made Bread Ahead a must-visit stop when visiting London. The arrival of Bread Ahead in the Philippines marks far more than the opening of a new bakery. It brings a genuine slice of London’s vibrant food culture to the country, with the recipes, craftsmanship and bakery theater that have made the brand internationally renowned. Designed as a complete Bread Ahead bakery and dining destination, the flagship Manila location will feature a full artisan bakery alongside a 150-seat restaurant serving breakfast, brunch, lunch and light dinner, with table service throughout the day. At the heart of the experience are Bread Ahead’s signature slow-fermented sourdough breads and pizzas, and filled doughnuts, crafted by bakers trained in authentic Bread Ahead methods and following the same standards and
techniques used in London. From artisan breads and focaccia to cakes, pastries and sweet treats, Bread Ahead Manila will offer a wide selection of the bakery’s best-loved creations from opening day. And in a special nod to its new home, Bread Ahead will introduce an exclusive Ube Doughnut, created specifically for the Philippine market–bringing the bakery’s signature craftsmanship together with one of the country’s most beloved flavors. Matthew Jones, founder of Bread Ahead, said: “Since opening in Borough Market in 2013, we’ve welcomed customers from every corner of the world, including many visitors from the Philippines, so it feels incredibly special to bring Bread Ahead to Manila.”
general manager of Kidz Station when it started. I was in my 20s, and together we set up many branches for the brands I used to handle, and worked on numerous events. At her wake, I saw her former branch managers gathered together. Many now hold major positions in different companies. Seeing them
reminded me that a person’s legacy is also carried by the people one has helped develop. Both left more than projects and stores. They left relationships and examples that live on in their children and people around them. Rest in peace, Armi and Toots!
C3
C4 Thursday, October 29, 2026
Sports BusinessMirror
mirror_sports@yahoo.com.ph | Editor: Jun Lomibao
NU, ATENEO RULE UAAP BADMINTON N
ATIONAL UNIVERSITY claimed the University Athletic Association of the Philippines men’s badminton team title with a 3-1 victory over Ateneo in the finals on Wednesday at Gameville Central Park in Mandaluyong City. Lanz Zafra defeated Rolan De Guzman, 21-7, 21-9, while Clarence Villaflor beat Wijel Albo, 21-9, 21-13, to give the Bulldogs a 2-0 lead. Ateneo’s Robby Ramos and Lance Vargas defeated John Vincent Lanuza and MJ Perez, 21-17, 16-21, 21-7, to claim the Blue Eagles’ lone point. John Benedict Gam and Jacinth Paul Ruedas sealed the championship for NU with a 21-19, 21-14 victory over reigning MVP Lyrden Laborte and Allen Penute. University of the Philippines secured the bronze medal with a 3-2 comeback victory over University of Santo Tomas. UP’s Shan Clar defeated Aaron Bedaña, 21-14, 21-10, before UST’s Arjay Lazareto and Ryan Mendoza beat John Vincent Espinoza and Manuel Fulmentera, 21-18, 22-20. UST took a 2-1 lead after Clark Brillantes edged Josh Dupet, 30-
29, 21-16, and Ron Galve and Bien Miraflor defeated MJ Amerodin and Kian Cruz, 16-21, 21-17, 21-17. Jerard Borgador won for UP with a 16-21, 21-16, 21-16 victory over Ivan Tuazon in the deciding singles match.
Ateneo wins women’s crown
ATENEO defeated National University, 3-1, to top the women’s side. Althea Ocampo beat Karyll Rio, 2115, 20-22, 21-12, to level the tie at 1-1 after NU’s Sab Amora defeated Arkeexa Ojera, 21-5, 21-4. Daena Castro and Andrea Hernandez then overcame Hailene Diaz and Naeomi Gulpany, 12-21, 21-18, 21-10, before Angel Valle and Althea Hernandez notched the clincher with a 14-21, 21-19, 21-8 victory over Tia Bualat and Lee-Anne De Leon. UP swept Adamson, 3-0, to claim third place. Anthea Gonzalez beat Abby Barcelona, 14-21, 21-12, 21-3, while Brys Fuggan defeated Key Aubrey Fuerte, 21-11, 21-10. Kimberly Lao and Susmita Ramos sealed the tie with a 16-21, 21-12, 21-14 win over Mary Destiny Untal and Jasmine Reformina.
UST rips UP for eighth straight win
N
IGERIA’S Oma Onianwa showed the way as University of Santo Tomas scored a 9365 rout of University of the Philippines on Wednesday in the University Athletic Association of the Philippines women’s basketball tournament at the Araneta Coliseum. Onianwa had 20 points and 11 rebounds, while Brig Santos and Karylle Sierba chipped in 18 points apiece as UST improved to 8-0. UP fell to 4-4. Louna Ozar had 16 for the Maroons, Kenna Ka added 15 and Camille Nolasco scored 12.
UE ends two-year winless run
ALTHEA DAWN OCAMPO and the Eagles take a 3-1 win to top the women’s team event. UAAP
UNIVERSITY of the East snapped its 31-game losing streak, holding off La Salle, 68-65. It was UE’s first win since September 22, 2024, when the Lady Warriors also defeated La Salle, by 18 points, in Season 87 at the Mall of Asia Arena. UE improved to 1-7 under head coach Ian Valdez, matching La Salle’s record. Sy Oñate paced the Lady Warriors with 25 points, while Rachel Lacayanga had 18 points, 10 rebounds and two assists. Bukky Ojo had 24 points and 12 rebounds for La Salle, Kyla Go also recorded a doubledouble, poasting 10 points and 11 rebounds, while issuing four assists.
NU routs Ateneo
NATIONAL University scored an 84-60 victory over Ateneo for its second straight win. Tin Cayabyab had 17 points as the Lady Bulldogs improved their record to 6-2 in second spot. Ateneo, meanwhile, dropped to 3-5 in sixth place. Kacey de la Rosa had 25 points and 16 rebounds for Ateneo.
BRIG SANTOS delivers 18 points for the Tigresses. UAAP
Bugna banners stellar cast in Palawan age-group tennis championships
K
ATHLYN BUGNA headlines a deep field of young aces in the Puerto Princesa Junior Age Group Tennis Championships, seeking another dominant campaign in the girls’ 16- and 18-and-under divisions Starting on Thursday at the Karawatan-RVM Complex Iwahig courts in Palawan. The Batang Onay/RSB standout from La Carlota, whose string of impressive performances in the nationwide talent-search series has established her as one of the country’s most promising young players, faces a tough field. The 18-and-under category promises a stern test, with Ashley Garcia, Freyah Delaska, Angela Gozon, Mildred Mantiza, Ysabel Balingit, Alveya Ibba and Moriah Laput among those ready to challenge Bugna for the title. Sanctioned by the Philippine Tennis Association and Universal Tennis, the tournament also features a solid lineup in the girls’ 16-and-under division with rising contender Etha Seno,
Sofia Aguilera, Maria Shan Tuyor and Dominique Garcia joining Laput and Ibba in the hunt for the crown. Bugna’s campaign also highlights the continuing grassroots development efforts of the Palawan Pawnshop program under president and CEO Bobby Castro, which has helped provide young players from different parts of the country with competitive opportunities to hone their skills, gain tournament experience and pursue their tennis ambitions. On the boys’ side, Krelz Gecosala and Julius Otoc are expected to figure prominently in the 18-andunder division, although Jhazz Fernando and Hazer Malicay are among those seeking to upset the projected title showdown. Gecosala will also pursue a double as he heads the 16-and-U field, which includes Otoc, Kresthan Belacas, Rein Hayana, Xian Sugsi, John Masaga, Francis Florida and Fernando. The younger divisions promise their share of compelling matchups, with Seno aiming to stamp her class
BUGNA
in the girls’ 14-and-U category against Jaynelle Castro, Arissa Macapendeg, Sofia Aguilera, Athena Guarde, Dominique Garcia, Abby Castigador and Gleanne Loreto. The boys’ 14-and-U competition is also expected to be wide open, with Becalas facing a strong challenge from Francis Dimzon, Jon Archie Roceta, Francis Florida, Zachary Mondejar, Matias Aguilera, Vincent Salarda and Sugsi. The 12-and-under divisions also provide a glimpse of the country’s emerging talent, with Dimzon, Matias Aguilera, Francis Angeles and Storm Tozer tipped to contend in the boys’ side, while Castro, Macapendeg, Castigador and Athena Guarde are among the leading names in the girls’ field. Boys’ and girls’ doubles competitions in the 14- and 18-and-U categories are also on the program, adding another dimension to the week-long tournament, supported by Dunlop, ICON Golf & Sports and the Palawan Group of Companies.
21 Envoys&Expats BusinessMirror
envoys.expats.bm@gmail.com | Thursday, October 29, 2026 D1
BusinessMirror
YEARS
Rising to Next-Gen Challenges
New ambassador charts a green future for Philippine-Norwegian cooperation
G
EOGRAPHICALLY, the Philippines and Norway are thousands of kilometers apart, but both share significant interests across multiple fronts of cooperation.
Beyond maritime industry linkages, sustainable development, and responsible use of natural resources, their cooperation spans shipping and seafaring, trade and investment, renewable energy, environmental protection, and efforts to promote peace and stability. As both countries navigate the demands of a changing global economy and the transition to greener industries, these ties offer room for further collaboration. For Norway, the Philippines is a partner not only in maritime affairs but also in pursuing practical solutions to shared challenges. Op-
portunities range from developing cleaner maritime transport and strengthening energy security to expanding business ties and exploring circular-economy initiatives that can reduce waste while creating economic value. Newly appointed Ambassador Kristian Netland of the Kingdom of Norway arrives with these areas of cooperation firmly on the agenda. After presenting his credentials to President Ferdinand R. Marcos Jr. in September, he identified maritime cooperation, trade, investment, education, innovation, sustainable growth, and the
green transition as priorities for closer Philippine-Norwegian relations. In this interview with Envoys & Expats, Netland discusses how Norway can share its experience in renewable energy and green shipping, the future of peacebuilding in the Bangsamoro Region, and opportunities for Philippine and Norwegian businesses to collaborate. He also reflects on returning to a country he and his family already know well and looks forward to exploring further. ENVOYS&EXPATS: During your presentation of credentials to President Marcos Jr., maritime cooperation, trade, investment, education, innovation, sustainable growth, and the green transition were identified as areas for deeper ties. What will be your immediate priorities as ambassador? NETLAND: Strengthening trade and economic ties will be a priority. The Philippines continues to be a fast-
growing economy, and Norway sees significant opportunities to expand business cooperation, particularly under the EFTA-Philippines Free Trade Agreement we have had since 2018. Norway is keen to support greater commercial engagement, especially in areas where Norwegian expertise can contribute to the Philippines’ development goals. At the same time, maritime cooperation and green energy transition will remain central pillars of our partnership. Norway has decades of experience in these areas, and they align strongly with the Philippines’ priorities for sustainable growth. How can Norway’s experience in renewable energy and green transition help the Philippines strengthen energy security? Norway offers an example of renewable energy underpinning long-term energy security. Today, nearly all of our electricity comes from renewable
resources, primarily hydropower, supported by more than a century of experience building reliable, integrated energy systems. As the Philippines diversifies its energy mix and reduces dependence on imported fuel, this creates opportunities for cooperation. Norway has extensive knowledge of the offshore wind industry and has begun the conversation in the Philippines to support its energy goals. Floating solar energy is another area where Norway is particularly strong and where there is considerable potential for an island nation like the Philippines. We have also worked with local partners on liquid natural gas as a transitional energy source, which will also increase energy security while momentum builds toward 100-percent renewable energy. We also see growing interest in regional power connectivity and the Nordic model of cross-border electric-
ity grids. I am aware that Asean is also discussing this issue. We would be pleased to share Norway’s experience and contribute to shaping the dialogue on regional energy integration. In his farewell article in the BusinessMirror, your predecessor Christian Halaas Lyster described the maritime partnership as central to the Philippine-Norwegian ties. How do you see this partnership evolving as the industry becomes greener and technologically advanced? The maritime partnership between our countries is already strong, and I believe it will become even more important as the industry undergoes a green and digital transformation. New technologies, alternative fuels, and digital solutions are changing the way ships operate, but people will remain at the heart of the industry. Continued on C2
21 Envoys& BusinessMirror
YEARS
Rising to Next-Gen Challenges
Business
D2 Thursday, October 29, 2026
From waste to worth: Norway, PHL go ‘circular’
Filipino Chefs Night celebrates Phil. cuisine, talents in Norway
AMBASSADOR Enrico T. Fos (from left); chefs Hans Joakim Grøgaard, Eduard Kiocho, Nhick Onnagan and Beth Ljungqvist, with Sabado Sessions Oslo organizers Dexter Pontañeles and Per Martin Grøgaard. SABADO SESSIONS OSLO/JESLER NICK ALIMES/DFA
O
FILIPINO delegates and their Norwegian hosts FB: THE ROYAL NORWEGIAN EMBASSY IN MANILA
T
HE Royal Norwegian Embassy in Manila organized and facilitated a study tour in Norway for a Philippine delegation focused on extended producer responsibility (EPR), deposit return systems (DRS), and sustainable waste management. Led by Environment Undersecretary Jonas R. Leones, the delegation included representatives from Evergreen Labs and Philippine Spring
Water Resources Inc. (Nature’s Spring), the Philippine Alliance for Recycling and Materials Sustainability (PARMS), GIZ Philippines,
and the Philippines-Norway Business Council (PNBC). The program included visits to Norwegian organizations and companies working across the waste and recycling value chain, including Infinitum, ROAF, OMRÅ, TOMRA and Grønt Punkt Norge. The delegation also held discussions with Norway’s Ministry of Climate and Environment and Norfund. “Moving towards a circular economy takes collaboration across government, business and communities,” said Ambassador Kristian Netland. “Norway is pleased to share our experience and learn from the Philippines, as both countries work to reduce waste, improve recycling, and make better use of resources.”
Netland said the visit was an opportunity to turn “shared ambitions into practical cooperation.” The study tour gave participants a chance to exchange knowledge on waste collection, sorting, recycling, plastic management, and EPR implementation, as well as ways Norwegian technology, expertise, and investment could support the Philippines’ transition to a more circular economy. The embassy’s Senior Adviser for Business and Trade Ana Florentino accompanied the delegation throughout the visit. She welcomed the strong engagement, active discussions, and keen interest shown by the Philippine participants in Norwegian solutions and expertise.
SLO—Filipino culinary talent, cultural exchange, and community spirit took center stage at Filipino Chefs Night, an evening that recognized Filipino chefs’ valuable contributions to Norway’s culinary landscape. “Filipino chefs have become an important part of Norway’s culinary landscape, bringing not only their culinary skills, but also something distinctly Filipino: our warmth, hospitality, creativity, adaptability, and commitment to hard work,” Philippine ambassador to Norway Enrico T. Fos said. The evening featured four Filipino chefs with diverse culinary backgrounds: Head Chef Hans Joakim Grøgaard of Fager Bistro; Chef Eduard “Doodz” Kiocho, who is known for his Japanese cuisine and omakase experiences; Chef Nhick Onnagan, founder of Filipino restaurant Mangkok; and Chef Beth Ljungqvist—a hospitality professional and owner of catering business Philme Up. The menu featured dishes prepared with ingredients sourced in Norway and given a distinctly Filipino interpretation. The organizers
described it as a reflection of the Filipino experience in Norway, bringing cultural heritage to a new home while creating new expressions through the meeting of two cultures. The event was jointly organized with Sabado Sessions, a Filipino community events and entertainment organization based in Norway, which contributed to the evening’s community atmosphere through music and an open mic program. Filipino Chefs Night also carried an important charitable dimension, with all ticket proceeds donated to Caritas Manila to support its work with communities and people in need in the Philippines. The organizers expressed hope that Filipino Chefs Night will become an annual celebration, providing a platform to recognize culinary professionals and promote cuisine from the Philippines, encourage cultural exchange, and further strengthen bonds between Filipino and Norwegian communities. The evening concluded with certificates presented to the participating chefs, followed by music, fellowship, and community activities.
New ambassador charts a green future for Philippine-Norwegian cooperation Continued from C1
What will change are the skills required. Future seafarers will need more specialized and technical knowledge and training to operate increasingly advanced vessels safely and efficiently. The Philippines is well-positioned to meet this challenge through institutions such as the Norwegian Training Center in Manila, which is already incorporating emerging technologies and sustainability considerations into its curriculum. To complement the work that Norwegian shipowners and shipping companies are doing, we continue our close collaboration with our partners in the Philippine maritime sector. What opportunities do you see for Norwegian expertise and technology to help the Philippines develop cleaner maritime transport? Norway is a global leader in green shipping, alongside electric ferry and ship technology. We see immense potential for sharing that expertise with the Philippines. Recently, a delegation of Philippine public and private sector partners visited Norway to study electric ferry systems and learn from our own development of lowemission maritime transport. We believe electric ferries and shipping could play an important role in creating a cleaner, more efficient, and more connected transport network, particularly in Metro Manila and surrounding areas, and inter-island connections. Cleaner maritime transport not only supports climate goals but also reduces congestion, improves mobility, and creates new economic opportunities for the Philippines in shipbuilding
visits, conferences, and dialogue platforms that bring together government, industry, academia, and civil society. By fostering innovation, encouraging investment, and sharing best practices, we can help accelerate the transition to a circular economy that reduces waste, creates economic opportunities, and supports sustainable growth.
and new maritime technologies, among others. As peacebuilding and normalization in Bangsamoro continue after the BARMM elections, what role does Norway see for itself in the next phase of peace and reconciliation? We congratulate the people of Bangsamoro on the successful parliamentary elections, which are a key milestone in the region’s democratic journey. I was pleased to be in Cotabato for the mid-September election. Nor w ay ’s com m it me nt to peacebuilding in Mindanao has always been long-term. We believe lasting peace requires not only addressing the conflict but also addressing the root causes. As such, we continue our work by supporting development, good governance, and inclusive participation. Going forward, Norway will continue to support the decommissioning process of former combatants. We will also continue supporting efforts to engage local partners, especially women and youth, to strengthen institutions and sustain the gains achieved throughout the peace process. The BusinessMirror regularly covers growing Norwegian business interest in renewable energy, seafood, and agriculture. Which sectors offer the greatest potential for expanded trade and investment? Certainly, we continue to see strong opportunities across all mentioned areas. In agriculture, Norway has developed advanced agricultural mechanization technologies, and there is growing interest in bringing some of these solutions to the Philippines. In
NETLAND during his first meeting with Secretary of Foreign Affairs Ma. Theresa Lazaro on August 26, before he presented credentials to President Ferdinand R. Marcos Jr.
seafood, we are proud to promote premium Norwegian products and support stronger commercial ties with the Philippines. Looking ahead, renewable energy and green technology also offer strong potential for future cooperation and investment. Momentum and opportunities continue to grow in all these areas, and the Royal Norwegian Embassy’s team is ready to amplify them. Our key business and trade priorities, reflecting strong mutual interests and significant potential for collaboration, are in renewable energy, maritime industries, seafood, environmental solutions, and the circular economy.
In 2023, we documented Norway’s cooperation with the Philippines on deposit-return systems and the circular economy. What more can our countries do to transform such initiatives into sustainable business opportunities? Transitioning into a circu lar economy is an environmental imperative and an economic opportunity. Norway has long supported global efforts to advance circularity, reduce plastic pollution, and promote more sustainable consumption and production. In the Philippines, we have actively supported discussions on establishing a Deposit Return System (DRS) for PET plastic bottles. Such a system could help
the country achieve its ambitious target of recovering 80 percent of plastic packaging under the Extended Producer Responsibility Law. Norway’s experience demonstrates this approach’s potential as one of the world’s most effective DRSs: We collect and recycle approximately 95 percent of PET plastic bottles. To support knowledge-sharing, the embassy recently facilitated a study visit to Norway for representatives from the Department of Environment and Natural Resources and the private sector. Building on these efforts, we continue to promote cooperation between Norwegian and Philippine stakeholders through study
Having previously served in the Philippines, what are you most looking forward to rediscovering, and what new experiences are on your personal list this time? I am looking forward to reconnecting with the Filipino people. Their warmth, hospitality, and strong sense of community left a lasting impression on me during my previous posting. In fact, when the opportunity to return arose, my entire family was enthusiastic about coming back. We have many happy memories from our time here and are excited to make new ones. My youngest son was born in Manila. I am also eager to see how the Philippines has evolved over the years, to renew old friendships, and to build new connections across the country. As for new experiences, I hope to explore even more of the Philippines beyond the places I already know—particularly its remarkable islands, marine environment, and natural landscapes. As a family, we enjoy being active and spending time outdoors, so we hope to travel as much as possible and discover different parts of the country. Whether it is hiking, snorkeling, running, or simply experiencing local communities and cultures, we look forward to making the most of everything the Philippines has to offer.
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FREEDOM AND FRIENDSHIP
At the Czech National Day celebration, Ambassador Karel Hejc (left) recalled the founding of Czechoslovakia in 1918, emphasizing the enduring principles of freedom, self-determination, democracy and respect for human dignity. He said the shared historical experiences and commitment to sovereignty of Czechia and the Philippines provide a strong foundation for friendship and cooperation, reinforced by growing people-topeople ties. For her part, Foreign Affairs Undersecretary Maria Andrelita Austria highlighted the longstanding friendship between Philippine national hero Dr. Jose Rizal and Czech scholar Ferdinand Blumentritt, as well as opportunities to expand bilateral linkages in investment, security, science and technology, agriculture, energy and culture.
Denmark-Philippines cooperation: Anchored in friendship for 80 years
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FORGED IN HISTORY
At the Republic of Korea’s National Foundation Day and Armed Forces Day celebration, Ambassador Lee Dong-gy emphasized that the Republic of Korea’s friendship with the Philippines was forged in shared sacrifice during the Korean War and has since evolved into a broad strategic partnership. He highlighted expanding cooperation in cybersecurity, food security, advanced technology, investment and cultural exchange as both countries work toward shared peace and prosperity. Meanwhile, Foreign Affairs Undersecretary Ma. Theresa Dizon-De Vega underscored the multidimensional ties between the two countries: from the Philippines’ contribution to the defense of Korea to their present-day strategic partnership spanning security, economic development and people-to-people ties.
CELEBRATING UNITY
At the celebration of German Unity Day, Ambassador Dr. Andreas Michael Pfaffernoschke (left) highlighted the enduring partnership between Germany and the Philippines amid global challenges, citing progress in bilateral relations, the conclusion of negotiations for the Philippines-European Union free trade agreement, and Germany’s elevation to Asean sectoral dialogue partner. He reaffirmed the two countries’ commitment to upholding a rules-based international order and to strengthening cooperation in trade, security and sustainable development. On the other hand, Foreign Affairs Undersecretary Ma. Theresa Dizon-De Vega said Germany’s reunification and the Philippines’ own experience of peaceful democratic transition provide meaningful foundations for both nations’ friendship and continued cooperation.
Ambassador highlights Visayan role in fortifying US-PHL links
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MBASSADOR Lee Lipton reinforced United StatesPhilippines connections in the Visayas by hosting the first Independence Day reception in Mactan.
AMBASSADOR Franz-Michael Mellbin, Undersecretary Maria Theresa Dizon-De Vega and Chancellor Benhur Ong
DIRECTOR GENERAL Ernesto Perez (left) and Mellbin
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ENMARK commemorated eight decades of diplomatic relations with the Philippines with a special reception at the Museum of Contemporary Art and Design. The celebration, themed “Partners for a Sustainable Future,” highlighted the two countries’ broad, longstanding partnership beyond traditional areas of cooperation and toward opportunities for mutual growth. Denmark was among the first to recognize the independent Republic of the Philippines in 1946. Since then, their relations have evolved into a modern and dynamic partnership rooted in strong people-to-people, economic, and political ties. Ambassador Franz-Michael Mellbin underscored the strength of both countries navigating together the rapidly changing global landscape: “With Denmark and the Philippines as maritime nations, we are pleased to see our growing cooperation in the defense and security space and our unwavering commitment to stability and an international rules-based order.” Foreign Affairs Undersecretary
Maria Theresa Dizon-De Vega shared her optimism about the future of the two countries’ bilateral ties: “We can draw confidence from what decades have already shown us: enduring relationships are built over time, sustained by mutual respect, and given life by the people who carry them forward.” Danish and Filipino partners of the embassy celebrated the diplomatic anniversary against the backdrop of the exhibition “Your curious journey” by world-renowned Danish artist Olafur Eliasson. Running until November 15 at MCAD, the exhibition showcases Eliasson’s creative articulation of human perception and the climate emergency. According to the Embassy of Denmark, both countries remain steadfast in their commitment to forging new avenues of cooperation and shared prosperity for the years ahead. This includes large-scale Danish investments in the Philippines, expanded maritime cooperation, and promoting good governance and anticorruption.
The event showcased American excellence and strengthened partnerships that promote the safety, security, and prosperity of Americans and Filipinos. “We host an Independence Day event in Manila every year, but I knew that, for America’s 250th birthday, we also had to bring the celebration to the ‘Queen City of the South,’” the ambassador said. “US companies have invested nearly $400 million in Cebu and the broader Visayas region.” Honored guests included Foreign Affairs Undersecretary Maria Andrelita Austria, Governor Pamela Baricuatro of Cebu, as well as Representative Junard Chan and Mayor Cynthia King Chan of Lapu-Lapu City. At the celebration, guests reveled in American hits such as “New York, New York,” “Fly Me to the Moon,” and “I’m So Excited,” performed by top local band Kerara Soul Cebu. Iconic images transported guests across the US: from New York City’s skyline and the White House to Arizona’s majestic Grand Canyon and San Francisco’s Golden Gate Bridge, bringing
snapshots of the country into the heart of Cebu. Lipton’s visit also highlighted more of America’s connections to the Visayas region. He inspected the Mactan-Benito Ebuen Air Base with Brig. Gen. Luisito Angeles Jr. to see the Enhanced Defense Cooperation Agreement site where the US funded a $2.7-million (P162.8-million) fuel storage facility, with work underway on logistical facilities that will support interoperability and disaster preparedness between American and Philippine armed forces. He also met with Philippine Air Force pilots and crew responsible for strategic airlift, including the operators of the S-70i Black Hawks originally developed in the US. The US Embassy considers the helicopters “an important way that America is supporting Philippine military modernization.” In Lapu-Lapu City, Lipton showcased American excellence in health technology by delivering GeneXpert cartridges that make Americans and Filipinos safer through quick,
LIPTON and wife Erika host the first US Independence Day reception in Cebu
accurate, and easy tuberculosis (TB) detection. The delivery activated the $600-million (P36-billion) health cooperation agreement between the two countries. “By working together in TB prevention here, we invest in the people of this city. We strengthen the enduring friendship between our nations,” he said. “It is a major commitment by the Trump Administration in our Alliance. We want stronger health systems, better disease detection, and healthier communities for both our countries.” The US envoy discussed opportunities with Baricuatro to expand cooperation in key areas such as promoting reciprocal trade, tourism, public
health care, and educational and cultural exchanges, as well as countering transnational crime. Lipton visited Glory Reborn: a nonprofit maternity and newborn health clinic. Its CEO and founder is American doctor Hilary Overton, and hosts a Peace Corps Volunteer who supports its “First One Thousand Days Nutrition” Program. According to the embassy, Lipton’s trip to Cebu is part of ongoing efforts to strengthen further the enduring ties between the US and the Philippines. Besides America’s 250th anniversary, 2026 marks 80 years of the two countries’ diplomatic relations and the 75th anniversary of their Mutual Defense Treaty.
Heads of Mission spouses name new prexy, exec. committee members for 2026–2027
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HE Spouses of Heads of Mission (SHOM) Manila recently announced the appointment of Mme. Sahar Behairy of Egypt as its new president, ushering in a dynamic leadership group for the upcoming 2026–2027 fiscal year. Behairy takes the helm alongside a newly appointed executive team representing nations worldwide, united in their goal of fostering diplomatic community relations and uplifting vulnerable sectors in the Philippines. The diverse newly appointed executive team includes: Mme. Michelle Hejcova (Vice President and Treasurer, Czech Republic); Mme. Neda Alemohammed (Social Media Director, Australia); Mme. Soukphaphone Phanit (Charitable Distributions Chairperson, Lao PDR); Mme.
Eva Fischer Mellbin (Activities Chairperson, Denmark) and Mme. Cecilia Taylor (Executive Committee Member, United Nations). “I am deeply honored to step into the role of president for this esteemed organization,” said Behairy. “SHOM Manila has a profound legacy of building cultural bridges and driving highimpact philanthropy across the Philippines. Alongside our diverse new board, I look forward to enhancing our traditional fundraising activities and discovering fresh ways to support marginalized local communities, particularly women and children.” According to her, SHOM Manila enthusiastically looks forward to the upcoming International Bazaar—a hallmark event organized in close, long-standing collaboration with the
MME. SAHAR BEHAIRY
Department of Foreign Affairs and the International Bazaar Foundation. “Under our new leadership for 2026–2027, SHOM remains deeply committed to this collaborative partnership, which beautifully bridges global diplomacy with local
philanthropy,” the president said. “We are eager to join forces once again to showcase diverse cultural heritage, foster international camaraderie, and generate critical funds that directly empower marginalized communities and sustainable development programs across the Philippines.” SHOM Manila consists of spouses of foreign ambassadors and heads of mission accredited to the Philippines. For over five decades, the association has participated in high-impact fundraising events—including the annual International Bazaar and joint diplomatic galas—to raise resources for sustainable education, health, and welfare projects assisting vulnerable families across the Philippine archipelago.
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Thursday, October 29, 2026
Japan provides rescue boats to Ilocos Norte
Marcos Jr. welcomes new envoys of Türkiye & Egypt
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MINISTER Naobumi Yokota and Governor Cecilia Araneta-Marcos, Vice Governor Matthew Joseph Marcos Manotoc, Laoag City Mayor James Bryan Alcid, and other local government officials at the turnover event. PROVINCIAL INFORMATION OFFICE OF ILOCOS NORTE, FB: EMBASSY OF JAPAN IN THE PHILIPPINES
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CONOMIC Affairs Minister Naobumi Yokota attended the turnover ceremony on October 1 concerning the project for the “Provision of Rescue Boats for Disaster Relief in Laoag City and its Vicinity, Ilocos Norte.” Japan’s government approved the project in 2024 under its Official Development Assistance or ODA through the Grant Assistance for Grassroots Projects GGP. Governor Cecilia Araneta Marcos, Vice Governor Matthew Joseph Marcos Manotoc, Mayor James Bryan Alcid of Laoag City, and other local government officials joined Yokota at the event. Each year, frequent typhoons cause recurring losses and devastation in Ilocos Norte. In 2024, the province reportedly prioritized deploying five rescue boats to the most vulnerable and remote coastal areas. The distance from the Emergency Disaster Response Division in Laoag City has made immediate assistance difficult, according to the Embassy of Japan. However, the existing fleet is insufficient, particularly during severe tropical cyclones and widespread flooding. Cities and municipalities such as Laoag and San Nicolas also require additional rescue assets to support search-and-rescue, evacuation, and relief operations.
The embassy cited Laoag City, in particular, as highly vulnerable to flooding, as the Padsan River runs through the city center. During major weather disturbances, the demand for rescue and emergency response assets can quickly exceed the province’s existing capacity. To address the situation, the Japanese Embassy provided the provincial government with a $60,711 grant, or approximately P3 million. It covers the procurement of two new rescue boats to enhance the safety and security of Laoag City residents and those in surrounding municipalities. In his message, Yokota expressed hope that the new rescue boats would enhance the Provincial Disaster Risk Reduction and Management Office’s capacity to provide daily services and emergency response during and after calamities. As the top ODA donor for the Philippines, the Government of Japan launched the GGP in the Philippines in 1989 to reduce poverty and empower communities through grassroots initiatives. To date, it has implemented 569 grassroots projects. Moreover, these initiatives—according to the embassy—continue to serve as vital bridges in strengthening Japan-Philippines friendship and sustaining the two countries’ strategic partnership.
TaiwanLink Fair 2026 showcases innovation, enterprise & biz links
TECO Representative Wallace Minn-Gan Chow, Taiwan Association Inc. President Jia Hsieh (both center) and other distinguished guests at the event’s official opening
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AIWANLINK FAIR 2026 opened on October 24 in Makati City, gathering Taiwanese companies, Taiwan-rooted businesses in the Philippines, industry leaders, institutional representatives, and the public for a two-day showcase of products, innovation, entrepreneurship, and Philippines–Taiwan collaboration. Organized by Taiwan Association Inc., the fair featured exhibitors from food and beverage, technology, health and wellness, pet care, home and lifestyle, property, tourism, financial services, and other consumer and business industries. It provided a platform for Taiwanese enterprises and Taiwanrooted businesses established in the Philippines to introduce their products, services, and capabilities to the local market. Through the exhibition and its special activities, the event aims to encourage business exchange, develop new partnerships, and strengthen connections between Taiwan and the Philippines. In her remarks, Taiwan Association Inc. President Jia Jen Hsieh hailed the participating organizations, saying businesses provide the linkages, but friendship keeps those bonds strong.
Among the invited speakers are Representative Wallace Minn-Gan Chow, of the Taipei Economic and Cultural Office in the Philippines (TECO), and Dir. Cherbett Karen L. Maralit, who is a board member of the Manila Economic and Cultural Office. A highlight of the event was a special screening of A Chip Odyssey, a documentary highlighting Taiwan’s development into a major global center for semiconductor technology and innovation. It gave audiences a closer look at the people, decisions, and industries that shaped Taiwan’s semiconductor sector and its role in the global technology supply chain. The fair continued its business and entrepreneurial programming on October 25 with a panel interview that featured entrepreneurs and nextgeneration business leaders from participating Taiwan-rooted companies in the Philippines. In a moderated conversation, the panel explored how their businesses began, the challenges and turning points they faced, how they developed products and services for the Philippine market, and how their companies continue to build connections between Taiwan and the Philippines.
RESIDENT Ferdinand R. Marcos Jr. expressed his desire to take bilateral relations further and explore additional areas of cooperation with Türkiye and Egypt, as their new ambassadors presented their credentials at Malacañang. By accepting Ambassador Kaan Esener’s credentials, Marcos Jr. recognized the Philippines’ long-standing ties with Türkiye. “There are many things that we can continue to explore and hopefully develop for our future… to deepen future relations,” the president told Esener. For his part, the envoy said multilateralism, respect for international law, and the United Nations Charter’s main principles are his government’s primary pillars. He assured the President that he “will be an honest, dependable and diligent interlocutor to further develop our bilateral relations.” The Philippines and Türkiye established their formal diplomatic relations on June 13, 1949. Last year, the transcontinental country was ranked as the Philippines’ 36th trading partner (out of 228), 28th export market (out of 212), and 40th import supplier (out of 215). Top exports to Türkiye include coconut (copra) oil; hearing aids (ex-
cluding parts and accessories); petroleum oils and oils obtained from bituminous minerals; desiccated coconuts; and other parts of airplanes or helicopters. As of June this year, 8,994 Filipinos in Türkiye are valued for their English proficiency, childcare expertise, adaptability, and service quality.
Amity ‘at every level’
WELCOMING Ambassador Ihab Ahmed Aboserie Ahmed, Marcos Jr. said the Philippines and Egypt have enjoyed a long history of friendship at every level and should continue strengthening the relationship in the coming years. “I look forward to the time that you will be here with us in the Philippines,” the Chief Executive said. “We can [work together to do more and] bring our countries closer, deepen our relations and find many, many areas that perhaps we have not looked at before to explore and develop.” Philippine-Egyptian diplomatic
THE Chief Executive receives envoys Kaan Esener (Türkiye, top photo) and Ihab Ahmed Aboserie Ahmed (Egypt).
ties span 80 years, dating back to their formal establishment on March 3, 1946. In 2025, Egypt was the Philippines’ 71st trading partner, 72nd export destination, and 70th import source. Among top exports to Egypt are edible fruit and nuts; electrical machinery and equipment and parts; sound recorders and reproducers, television image and sound recorders; aircraft and spacecraft, parts;
nuclear reactors, boilers, machinery, and mechanical appliances and parts; lac, gums, resins, as well as other vegetable saps and extracts. Egypt hosts around 2,371 Filipinos, most of whom are overseas Filipino workers in the household and service industries, as well as in the medical field, such as nurses. The rest are spouses and students living with their families in Egypt. (Presidential Communications Office)
UAE sheikh launches village & opens orphanage in Mindanao
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HE United Arab Emirates’ (UAE) Deputy Ruler of Sharjah and Chair of the Sharjah Media Council, Sheik Dr. Sultan bin Ahmed bin Sultan Al Qasimi, recently laid the foundation stone for the Al Reeh Al Mursala Village and inaugurated the Dar Al Rahma Orphanage in Dinas, Zamboanga del Sur. The sheikh said humanitarian and charitable work is deeply rooted in the UAE’s values, reflecting its commitment to supporting communities in need worldwide. He conveyed his country’s “message of goodness, compassion, and humanity that brings together peoples of all races and ethnicities.” Sharjah’s deputy ruler laid the foundation stone for the village, then reviewed the project’s plans and designs, which outline the homes, facilities, and services to be provided to meet residents’ diverse needs. The area will comprise 60 homes, each with two bedrooms and a living room. The village will also feature an artesian well to ensure a sustainable supply of clean water for residents. It also includes a vocational center to build residents’ skills and capabilities, empowering them to become productive members of society.
Extending a hand
THE sheikh then proceeded to the orphanage, where he led the ceremonial ribbon-cutting to mark its official opening. He toured the facility and
SHEIKH Dr. Sultan bin Ahmed bin Sultan Al Qasimi (center) and children-beneficiaries of the constructed orphanage
reviewed its amenities, beginning with the mosque, and then the accommodation building that can house 50 orphans. The orphanage also features an electric-powered well that provides clean water for the orphans, along with commercial shops that support local products and generate sustainable income. The facility also includes a restaurant and administrative offices. He also visited the four classrooms, including a computer laboratory that provides access to learning resources and helps develop the orphans’ digital skills, as well as multipurpose classrooms designed to provide an educational environment equipped with modern learning facilities. He listened to an explanation of the educational process, the key teaching methods used, and how
they enhance the orphans’ knowledge and skills. The building has high-quality facilities for the kids’ daily needs, allowing them to live comfortably, practice life skills, and interact with each other. The UAE sultan also visited the sewing institute, which gives mothers of orphans opportunities to practice and develop their skills while producing a range of garments and textiles to support their household income and help ensure a decent standard of living for their families. He received a briefing on the institute’s role in enhancing the mothers’ sewing skills and in helping bring their products to market.
Making a profound difference
THE sheik thanked individuals and institutions that donated, affirming that their support helps meet the es-
sential needs of underprivileged villages and their families and improves their living conditions and quality of life. He highlighted the importance of integrated charitable projects that provide underprivileged villages with necessities, support those in need and their families, and enable them to live with dignity, ultimately helping them become educated and productive communities. At the end of his visit, the sheikh posed for commemorative photographs with the orphans and their mothers, who expressed their happiness at the orphanage’s opening and their deep gratitude for inaugurating the facility. According to the UAE Embassy, the Sharjah Broadcasting Authority’s “Al Reeh Al Mursala” program is supporting the village in cooperation with Sharjah Charity International. Its director-general, Mohammed Hassan Khalaf, said the projects reflected a humanitarian partnership with Sharjah Charity International, supported by donations through the program broadcast on Sharjah TV and Sharjah Radio. He said the projects helped establish villages, healthcare centers, and other humanitarian initiatives to improve living conditions and create sustainable income sources for disadvantaged communities. The director-general commended donors and philanthropists for their support, which reflects humanitarian values and solidarity with those in need.
EU, Philippines conduct second security and defense dialogue
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HE European Union and the Philippines recently held their second Security and Defense Dialogue in Manila. During the dialogue on October 8, both parties reaffirmed their shared commitment to enhancing alignment on multilateral fora to
uphold the rules-based international order. They held substantive discussions on regional security dynamics, focusing on maritime security, including critical maritime infrastructure and freedom of navigation, and emphasized the importance of the United
Nations Convention on the Law of the Sea or UNCLOS. The security and defense exchanges, along with the EU’s recent announcement of its first-ever European Peace Facility assistance measure in Asia—with a €15-million package for the Philippines—demonstrate the
bloc’s strong commitment to promoting stability and security in the region. Managing Director for Peace, Security and Defence, and European External Action Service Benedikta von Seherr-Thoss, and Foreign Affairs Undersecretary for Policy Leo Herrera-Lim jointly chaired the dialogue.
Health&Fitness BusinessMirror
Editor: Anne Ruth Dela Cruz
Thursday, October 29, 2026
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Hospital network model seeks to improve access to specialized care
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Expanding emergency and critical care
By Anne Ruth Dela Cruz
CCESS to specialized healthcare remains a challenge for many Filipinos living outside Metro Manila, particularly those who need emergency treatment, intensive care or services that may not be available in their local communities. For some patients, seeking treatment means traveling long distances, adding time, transportation expenses and logistical difficulties to an already stressful medical situation. Hospital networks are looking to address this challenge by connecting facilities, specialists and medical capabilities across regions, allowing patients to access a wider range of services without necessarily having to travel to the capital. The Medical City (TMC) is pursuing this approach through its network of hospitals and clinics, with facilities in Clark, Pampanga, and Pangasinan serving as important access points for patients in Central and Northern Luzon. “The service will be brought to you, not the other way around,” said Dr. Stuart Bennett, president and CEO of TMC, describing the group’s approach to coordinating medical services across its network. Speaking at a recent media gathering titled “The Medical City’s Conversations on Trust and Care” held at Swissotel Clark Philippines, Dr. Bennett said the integrated healthcare system is designed to connect patients with the appropriate facilities and specialists while improving coordination and controlling costs. The network comprises its flagship hospital in Ortigas, Pasig City; provincial hospitals in Clark, Laguna,
Iloilo and Pangasinan; a facility in Guam; and more than 70 outpatient clinics nationwide, according to the group’s published information.
Connecting hospitals and specialists
FOR patients, an integrated healthcare network can mean access to a broader pool of medical expertise and facilities, particularly when a local hospital does not have the equipment or specialists needed for a particular condition. Dr. Bennett said the network uses a shared information system that allows patient registration and clinical information to be accessed across participating facilities. This can help reduce the need to repeat registration and diagnostic processes when patients move from a clinic to a hospital, subject to the availability and appropriate transfer of their records. The network also enables hospitals to coordinate access to capabilities available at other facilities. “If you need to leave that clinic and go to a hospital, when you go to that hospital, they’ll actually have your information,” Dr. Bennett said. He added that the group can draw on the expertise and resources of other hospitals when a particular facility does not have the required service. Such coordination is especially relevant in regional
FROM left, Dr. Stuart Bennett, President and CEO of The Medical City; Earline Borlongan, Hospital Director of The Medical City Clark; and Dr. Juan Antonio Maximiano R. Escaño, President and CEO of The Medical City Pangasinan, listen to the questions dished out by event host Rafael Siguion-Reyna.
healthcare delivery, where access to specialized services can vary by location. Its effectiveness, however, depends on referral arrangements, specialist availability, information-sharing protocols and the capacity of receiving hospitals.
Raising standards in Central Luzon
IN Pampanga, TMC Clark is positioning itself as a provider of advanced medical care for patients in Central and Northern Luzon. Hospital Director Earline Borlongan said the hospital’s development over the past decade has been marked by efforts to raise clinical standards and improve the patient experience. A major milestone was its accreditation by Joint Commission International (JCI) in December 2024. The hospital became the first in North and Central Luzon to receive the distinction. JCI accreditation evaluates healthcare organiza-
tions against international standards covering patient safety, quality of care and institutional processes. Maintaining these standards requires continuing compliance and quality improvement rather than a one-time achievement. Borlongan said the hospital continues to develop its capabilities in neuroscience, critical care, cardiovascular care, cancer care, renal care and preventive healthcare. The goal, she said, is to make advanced medical services more accessible to communities in the region. “World-class healthcare should not be defined by where you go, but by the quality of care, expertise, and compassion you receive right here in Central Luzon,” Borlongan said. The hospital also serves international patients, including members of the US veteran community and travelers arriving through Clark International Airport, reflecting the area’s growing role as a regional center for business and travel.
FURTHER north, TMC Pangasinan is preparing to expand its capacity to handle emergency cases and critically ill patients. Dr. Juan Antonio Maximiano R. Escaño, the hospital’s president and CEO, said the facility plans to expand its emergency department and intensive care unit to respond to increasing demand for critical care. He said the hospital’s integration into the wider TMC network has strengthened its ability to serve patients beyond Pangasinan by providing access to specialists and services available at other facilities. The planned expansion is part of the hospital’s effort to improve emergency and critical care for patients from Pangasinan and neighboring areas. TMC has also publicly announced investments in these facilities as part of its regional healthcare development plans. Dr. Escaño said the network’s reach allows the hospital to extend its capabilities beyond the services physically available in Pangasinan. He also noted that the presence of a major healthcare provider can encourage other hospitals in a region to improve their own services, potentially raising standards across the local healthcare sector.
Balancing quality and affordability
WHILE expanding access to specialized services is important, the cost of treatment remains a major consideration for Filipino patients and their families. Dr. Bennett said TMC is working with suppliers and health maintenance organizations (HMOs) to manage costs and maintain affordability. He cited the group’s decision to hold prices steady for its six largest HMO partners in 2026, as well as efforts to negotiate better prices for medical supplies and equipment. See “TMC,” E2
ASIAN HOSPITAL UNITES COMMUNITIES IN ADVANCING HEALTH, HOPE, AND HEALING
DR. Corazon Ngelangel, Director of the Asian Cancer Institute, with Dr. Beaver Tamesis, President and CEO of Asian Hospital and Medical Center, and the Senior Leadership Team.
ASIAN Hospital Charities, Inc. and the Department of Dermatology
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ROM raising awareness about breast cancer and promoting skin health to supporting charity patients and strengthening public-private partnerships, healthcare initiatives can extend medical care beyond hospital walls. These efforts also underscore the importance of prevention, early detection, health education, and collaboration in addressing the needs of Filipino communities. Asian Hospital and Medical Center pursued these priorities through a series of activities in October 2026, combining health awareness campaigns, community outreach, charitable initiatives, and institutional recognition. Together, the efforts reflect a broader approach to healthcare, one that brings medical expertise closer to communities while emphasizing compassionate service and greater access to care.
Breast Cancer Awareness Highlights Early Detection
ASIAN Hospital and Medical Center lit up in pink this October in observance of Breast Cancer Awareness Month 2026, symbolizing hope, strength, and resilience for patients, families, and survivors affected by the disease. The initiative highlighted the importance of early detection, regular breast screening, and timely consultation. In solidarity with the Philippine College of Surgeons, the hospital joined efforts to encourage individuals to take an active role in their breast health and seek professional medical advice about appropriate screening options. The institution’s surgical team continues to support breast cancer patients through specialized medical care, reinforcing the importance of timely diagnosis and access to treatment. By illuminating its facilities in pink, the hospital also expressed solidarity with patients and survivors, recognizing the challenges they face throughout their healthcare journeys. The campaign served as a reminder that access to reliable health information and compassionate medical care is essential in addressing breast cancer.
Medical Mission Promotes Skin Health and Prevention
A MEDICAL mission and lay forum organized by Asian Hospital and Medical Center, Asian Hospital Charities,
ASIAN Cancer Institute with the Philippine College of Surgeons
delivery, alongside the commitment to compassionate, patient-centered care embodied in the hospital’s “Alagang Deserve, Alagang Sulit” promise.
Bayanihan Run Supports Charity Patients
ASIAN Hospital and Medical Center with the Philippine General Hospital Inc., and the institution’s Department of Dermatology promoted proper skin care, disease prevention, and early consultation. The activity gave community members an opportunity to learn about maintaining healthy skin, recognizing potential skin problems, and understanding when to seek professional medical attention. Exhibitors and partner brands also participated, helping make the event more engaging while supporting its health education objectives. The initiative demonstrated how collaboration among healthcare providers, charitable organizations, and community partners can help extend health information and services to more people. The organizers thanked the participants, exhibitors, and partners whose contributions helped make the activity possible, emphasizing the importance of preventive care and community involvement in promoting overall well-being.
Institute, received Circle of Excellence in the Woman Leader of the Year category, while the hospital was recognized Circle of Excellence in the Apex Company of the Year category. The awards recognize leaders and organizations for achievements in leadership, business excellence, innovation, and nation-building across the region. The distinctions highlighted Dr. Ngelangel’s contributions to cancer care and the institution’s continuing efforts to deliver quality healthcare services. The recognitions also underscore the role of leadership and institutional development in supporting healthcare
RUNNERS, hospital personnel, volunteers, and community partners gathered on October 18 at the Muntinlupa Sports Complex in Barangay Tunasan for the first Asian Hospital Bayanihan Run 2026. Organized by Asian Hospital and Medical Center, Asian Hospital Charities, Inc. (AHCI), and Asian Learning Institute, the event promoted physical activity and community involvement while raising support for charity patients and efforts to improve access to healthcare. Asian Learning Institute Director Dr. Jose Acuin and Human Resources Director Atty. Joey Torres delivered the welcome remarks, emphasizing collective action in helping patients in need. Dr. Acuin highlighted the role of AHCI and the Bayanihan inpatient and outpatient programs in extending healthcare services to more patients. “Asian Hospital Charities and the Bayanihan inpatient and outpatient programs share the same vision: to enable more patients in need to experience the worldrenowned brand of Asian Hospital care. Marami pong salamat sa aming mga Bayanihan Run partners from the media and the local government of Muntinlupa for sharing this vision. Let us run swiftly, run safely, and run inspired. Let’s inspire others to help ensure equitable access to health care for our citizens,” he said.
Healthcare Leadership Earns Regional Recognition
ASIAN Hospital and Medical Center received two Circle of Excellence recognitions at the Asia CEO Awards 2026, held at the Marriott Grand Ballroom. Dr. Corazon Ngelangel, director of the Asian Cancer
ATE ROSE, short for Atherosclerosis, together with the Bayanihan Run hospital community and runners.
Ate Rose, the hospital’s character representing atherosclerosis, joined participants during the Zumba session, adding a health-awareness component to the gathering. Chief Medical Officer Dr. Carmen Nievera and Director of Marketing and Patient Experience Hennessy Miranda thanked the runners, volunteers, organizers, and partners for their support. The organizers also acknowledged the media partners and the Muntinlupa local government. Beyond promoting fitness, the run highlighted how community participation and charitable initiatives can help support patients who need medical care.
Public-Private Partnership Expands Access to Breast Cancer Surgery
A PUBLIC-PRIVATE partnership between Asian Hospital and Medical Center and the Philippine General Hospital (PGH) was celebrated during “Paghilom at Pag-asa: Isang Gabi ng Pasasalamat,” a Thanksgiving Night recognizing their collaboration in improving access to healthcare. Led by Asian Hospital President and CEO Dr. Beaver Tamesis and PGH Director Dr. Gerardo “Gap” Legaspi, the gathering highlighted the impact of the Mastectomy Project. Through the initiative, Asian Hospital had operated on more than 20 patients, helping address PGH’s surgical backlog and providing timely access to breast cancer surgery. An audiovisual presentation featured the experiences of patient beneficiaries, illustrating how the collaboration had brought renewed hope to patients and their families. Healthcare workers from both institutions also performed during the gathering, which recognized the collective efforts of the teams involved. The partnership demonstrates how collaboration between public and private healthcare institutions can help address service gaps and improve access to specialized procedures. By pooling expertise and resources, participating institutions can support patients who might otherwise face delays in receiving needed surgical care. Through the Mastectomy Project, AHMC and PGH reaffirmed their commitment to making quality healthcare more accessible and advancing patient welfare through collaborative action.
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Business
E2 Thursday, October 29, 2026
Recognize RSV early to protect infants from severe respiratory illness, experts urge
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By Patrick Villanueva
EALTH experts are urging parents and caregivers to recognize the warning signs of respiratory syncytial virus (RSV) in infants and seek medical attention promptly to help prevent severe illness and potentially life-threatening complications. The call was made during a health discussion organized by Pfizer in partnership with Philippine medical societies at EDSA ShangriLa, under the campaign “Ang Bawat Hininga ay Mahalaga.” The discussion highlighted the health burden of RSV, the importance of early recognition, and measures that can help protect infants against infection. The roundtable brought together four maternal and child health experts: Philippine Obstetrical and Gynecological Society (POGS) Reproductive Health Committee chairperson and board trustee Dr. Anna Belen I. Alensuela; Philippine Infectious Diseases Society for Obstetrics and Gynecology (PIDSOG) president Dr. Martha Aquino; Philippine Society of Maternal Fetal Medicine (PSMFM) past president Dr. Catherine Joie Carelle Roux Ong; and Pediatric Infectious Disease Society of the Philippines (PIDSP) current adviser and past president Dr. Anna Ong-Lim.
Recognizing the early signs
RSV symptoms may initially resemble those of the common cold, making it difficult for parents to distinguish the infection from other respiratory illnesses. “Symptoms of Covid, RSV, and flu may overlap so we cannot for sure which is which,” Dr. Ong said. She identified three warning signs that parents should watch for: rapid or difficult breathing, decreased breastfeeding or feeding, and unusual irritability or low energy. “If you will look for the symptoms, it’s not specific to RSV, it’s more of a respiratory problem,” Dr. Ong explained, emphasizing the importance of seeking medical attention when these symptoms appear. She cautioned parents against waiting several days to see whether their infant’s condition improves, as delays in seeking care could allow the illness to worsen.
“You have to recognize that there is something wrong, then you have to bring your baby to the hospital,” she said, stressing that difficulty breathing requires immediate medical attention. Wheezing and other unusual breathing sounds are additional warning signs that caregivers should not ignore.
Prevention and protection
WHILE there is no specific cure for RSV, supportive care can help manage the illness. Depending on the severity of the infection, treatment may include maintaining adequate hydration and providing supplemental oxygen or other respiratory support. Preventive measures also remain important. Regular handwashing, covering coughs and sneezes, and limiting an infant’s exposure to people who are sick can help reduce the risk of infection. Pregnancy is another important consideration in protecting infants against RSV. Experts highlighted the role of maternal immunization in helping protect babies during their first months of life, when they are particularly vulnerable to severe respiratory infections. Dr. Alensuela encouraged pregnant women to adopt precautions similar to those practiced during the COVID-19 pandemic, including wearing masks when appropriate and taking steps to reduce exposure to respiratory infections. “You can never tell who has the virus and there is no such thing as a high period of communicability,” she said. The experts also emphasized the impor-
tance of discussing RSV vaccination with healthcare providers during pregnancy. Maternal vaccination allows the mother’s immune system to produce antibodies that can cross the placenta and help protect the newborn against severe RSV disease. “There is no vaccine for RSV among children, only adults. So, your child could be infected. How will you protect? Vaccination during pregnancy because that is the only time that we can give immunization for the baby as well,” Dr. Alensuela explained. “When we give you immunization, the body develops an antibody against the virus. Now, the baby will just receive the antibody from the mom,” she added. The experts cited 28 to 36 weeks of pregnancy as the recommended window for RSV vaccination. They also advised pregnant women not to delay discussions with their healthcare providers until the end of this period, as preterm delivery could limit the time available for maternal antibodies to develop and be transferred to the baby. Parents and expectant mothers should consult their healthcare providers about RSV prevention, including the appropriate timing and availability of maternal vaccination based on current local recommendations and individual circumstances. Although RSV may begin with symptoms resembling those of a common cold, the infection can become serious in infants. Recognizing warning signs, seeking timely medical care, and taking appropriate preventive measures can help reduce the risk of severe illness and protect babies during their most vulnerable months.
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He said savings from supplier negotiations are passed on to patients through lower prices for the affected services. The group is also working with PhilHealth to make use of applicable benefits for critical care. Bennett cited heart attack patients who, depending on their coverage and treatment eligibility, may receive care fully covered within PhilHealth benefit limits. These initiatives underscore the importance of looking beyond hospital infrastructure when assessing access to healthcare. The availability of specialists and advanced equipment must be matched by financing arrangements that enable patients to obtain timely treatment. For regional hospital networks, the challenge is to ensure that coordination translates into tangible benefits: fewer unnecessary trips, more efficient referrals, consistent standards and manageable treatment costs. As TMC continues to develop its regional facilities, its experience illustrates one approach to extending specialized healthcare beyond Metro Manila. Whether this model can significantly reduce regional disparities will depend on sustained investment, effective coordination and the ability of patients to afford the services they need.
Shopping for clean beauty essentials? Look for the Green Finds badge at SM Store By Anne Ruth Dela Cruz
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EAUTY routines have evolved beyond simply helping people look their best. Increasingly, consumers are paying attention not only to what goes on their skin but also to how those products are made, packaged and ultimately affect the environment. This growing shift has fueled the rise of clean beauty—a more mindful approach that values thoughtfully selected ingredients, responsible packaging and sustainable practices. Rather than requiring a complete overhaul of one’s skincare or haircare regimen, clean beauty encourages simple, practical changes that can make a lasting impact over time.
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Start with simple swaps
AMONG the easiest ways to embrace the movement is by switching to refill packs. The Naturals by Watsons Aloe Vera Shampoo Refill, for instance, allows consumers to reuse their existing shampoo bottles instead of purchasing new ones with every refill. The biggest sustainability advantage of refill packs is that they use significantly less plastic than buying a new bottle each time. While refill pouches are not always easier to recycle, they help prevent plastic waste from being created in the first place—making reduction and reuse more meaningful environmental choices. At the same time, the aloe vera formulation helps keep hair and scalp feeling refreshed and healthy.
Gentle care for healthier skin
CLEAN beauty also means choosing products that work in harmony with the skin. The Neutrogena Hydro Boost Water Gel Cleanser effectively removes dirt, oil and makeup while helping maintain the skin’s natural moisture barrier, making it a dependable choice for everyday cleansing. Those with dry or sensitive skin may appreciate the gentle cleansing and soothing oat-based formula of the Aveeno Skin Relief Body Wash.
Nature-inspired hair care
HAIR care has likewise embraced nature-
inspired formulations. The Herbal Essences Coconut Milk Conditioner nourishes hair with coconut milk, leaving it softer, smoother and easier to manage while reflecting consumers’ growing preference for ingredients inspired by nature.
Beauty meets innovation
CHOOSING cleaner products doesn’t mean sacrificing performance. The Olay Regenerist Micro-Sculpting Cream demonstrates how innovation and sustainability can go hand in hand, offering effective anti-aging skincare while supporting brands that continue to improve their environmental footprint.
Small choices, lasting impact
ULTIMATELY, clean beauty isn’t about perfection. It’s about making more thoughtful decisions whenever possible—refilling instead of replacing, choosing products with carefully considered formulations, using what you already have before buying more, and supporting brands committed to more responsible practices. Individually, these choices may seem small. Collectively, however, they help create a more conscious way of caring not only for ourselves but also for the planet. Discover these clean beauty essentials and more through SM Green Finds at SM Store, where every thoughtful purchase is another step toward a more sustainable lifestyle.
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1. Aveeno Skin Relief Body Wash 2. Herbal Essences Argan Oil Conditioner 3. Herbal Essences Conditioner Coconut Milk 4. Neutrogena Hydro Boost Water Gel Cleanser 5. Olay Regenerist Micro-sculpting Moisturizer Cream
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Thursday, October 29, 2026 E3
When the pharmacy is miles away, the sari-sari store steps in By Rizal Raoul S. Reyes | Contributor
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OR Filipinos in communities far from pharmacies, neighborhood stores offer convenience and familiarity—but also raise questions about medicine access, safety, and regulation. In a remote sitio in Barangay Kalawakan, Bulacan, getting medicine can mean traveling nearly a dozen kilometers to the nearest pharmacy, without public transportation. A single trip to town can cost more than P400 one way. For some residents, the alternative is to walk for more than an hour, even in good weather. When a headache, fever, or stomachache strikes, the neighborhood sari-sari store may be the closest place to turn to. Residents can ask the tindera for a few tablets, buying only what they can afford. The transaction is familiar across Filipino communities. Yet behind this everyday practice lies a larger issue: when formal healthcare services are difficult to reach, where do people turn for relief? A qualitative study by Ateneo researchers explores the role of sari-sari stores as informal points of access to medicines, examining how geography, affordability, and community relationships shape the way people obtain everyday remedies. The research, titled “Sari-sari Stores as Community Pharmacies? A Qualitative Exploration of Sarisari Stores Selling Medicines in the Philippines,” was published in the August 2026 issue of Acta Medica Philippina.
A familiar fixture in community healthcare
FOR generations, sari-sari stores have served as more than neighborhood retail outlets. They provide households with convenient access to food, personal-care products, and other essentials, often in small, afford-
able quantities suited to limited budgets. They also sustain the livelihoods of millions of small entrepreneurs. In some communities, their role extends to the sale of medicines. The Ateneo study found that the sari-sari store owners interviewed commonly sold non-prescription medicines for ailments they considered ordinary, including headaches, diarrhea, fever, colds, and stomachaches. These included medicines such as paracetamol, mefenamic acid, ibuprofen, and loperamide, often sold in small quantities. For residents who live far from pharmacies, the convenience can be significant. Traveling to town requires both time and money, while a neighborhood store may be open when other establishments have already closed. One store owner, for instance, reportedly kept her shop open until midnight, allowing residents to purchase items, including medicines, outside regular pharmacy hours. Such accessibility helps explain why some sari-sari store owners choose to sell medicines: they recognize a demand within their communities and respond to what their neighbors need and can afford.
The unseen role of the tindera
THE familiar scene of a customer buying a few tablets from a neighborhood store may appear unremarkable. But the researchers argue that these transactions reveal the social and economic realities shaping access to healthcare. “The sari-sari store, as a venue to observe interactions between the consumers, the government, and the medical and pharmaceutical world, shows us its social, political, and economic relevance,” the researchers write. Drawing on ethnographic insights from interviews
with 14 sari-sari store owners, the study examines how proximity, affordability, and familiarity influence medicine-seeking behavior. Store owners become familiar with the everyday needs of their customers. They learn which products people request, what they can afford, and which concerns frequently arise in the neighborhood. Some began selling medicines after noticing that residents needed them. In this sense, the tindera becomes an informal observer of community health needs—not a healthcare professional, but a familiar figure who sees the practical difficulties residents face when seeking care. “Sari-sari stores bring valued ‘things’ in close proximity to the people who look to them for healing and comfort,” the researchers explain. Their significance, therefore, extends beyond convenience. These neighborhood stores reflect how people rely on informal networks of assistance when formal services are distant, costly, or difficult to access.
Accessibility has its limits
THE study also highlights an important distinction: making medicines physically accessible does not automatically ensure that they are used safely or appropriately. The store owners interviewed did not consider themselves doctors or pharmacists. Eleven of the 14 reportedly refused to sell antibiotics and other prescription medicines, directing customers to healthcare professionals when necessary. Their decisions suggest an awareness of the limits of their role, even as they respond to the needs of their communities. The researchers describe the sari-sari store through the concept of a community “myopticon,” a
setting in which neighborhood needs become visible through repeated, everyday interactions. From this perspective, the store offers a way to understand who needs medicines, what barriers they face, and how informal relationships shape access to care. However, familiarity and proximity cannot replace professional assessment, appropriate dispensing, and guidance on the proper use of medicines. The findings point to a broader challenge for the healthcare system: addressing the circumstances that lead people to seek medicines from informal sources while ensuring that access does not come at the expense of patient safety.
Balancing regulation with realities on the ground
THE issue also has a legal dimension. “Strictly speaking, the sale of pharmaceuticals through sari-sari stores is illegal, unless the outlet is duly licensed by the Food and Drug Administration (FDA). There are, however, layers of liminalities, such as due considerations for geographically isolated and disadvantaged areas (GIDAs) and medicines not captured in the FDA circular,” the researchers clarify. The study approaches the issue through medical anthropology, examining how economic hardship, geographical isolation, and limited access to formal services influence everyday health decisions. Rather than advocating blanket prohibitions and punitive measures, the researchers call for policies that account for these realities. They argue that the circumstances driving informal medicine sales should be considered alongside the need to uphold medicine safety and regulatory standards. “We see the value in recognizing the role of sari-sari stores in the health system, as well as in accounting for
economic and geographical barriers before imposing top-down prohibitions,” the researchers say. This does not mean that sari-sari stores should replace pharmacies or assume the responsibilities of licensed healthcare providers. Rather, the study invites policymakers to examine why residents depend on these stores in the first place and how gaps in access might be addressed.
Looking beyond the neighborhood store
THE sari-sari store occupies an unusual position in the Philippine healthcare landscape. It is neither a formal healthcare institution nor entirely separate from the everyday ways people seek relief from illness. Its role is shaped by necessity: the distance to a pharmacy, the cost of transportation, the ability to pay for medicines, and the trust built between store owners and their neighbors. For residents of geographically isolated and underserved communities, these factors can determine whether obtaining medicine is a manageable errand or a costly, time-consuming undertaking. The researchers’ findings underscore the importance of looking beyond informal medicine sales to the conditions that sustain them. Improving access to affordable healthcare, strengthening the availability of legitimate medicine outlets, and ensuring that communities receive appropriate guidance are essential to addressing the underlying problem. Ultimately, the sari-sari store offers a glimpse into what happens when formal healthcare is out of reach. Understanding its place in community life may help policymakers develop more responsive approaches to medicine access—ones that recognize the realities of marginalized communities while protecting the health and safety of the people they serve.
A clearer vision for every stage of life
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OR many people, reaching their 40s and 50s brings a familiar frustration: Reading a menu, checking a phone or looking at fine print suddenly becomes more difficult, even when distance vision remains clear.
This age-related loss of near vision, known as presbyopia, has traditionally meant reaching for reading glasses. But advances in refractive eye surgery are giving appropriately screened patients more options to reduce their dependence on glasses. At the forefront of these advances is St. Luke’s Medical Center–Global City, which has launched the Visumax 800 femtosecond laser system at its Vision Laser Center. The next-generation system delivers laser treatment in just seconds per eye and features enhanced automated centering designed to improve precision during refractive procedures. The launch was marked by a visit from international laser eye surgery pioneer Prof. Dan Reinstein, who performed a live PRESBYOND Laser Blended Vision procedure at St. Luke’s-Global City. Dr. Reinstein is recognized for pioneering the PRESBYOND technique for treating presbyopia.
A new approach to aging eyes
PRESBYOND offers a different approach to presbyopia correction. Unlike traditional monovision, which primarily corrects one eye for distance and the other for near vision, PRESBYOND creates what physicians describe as blended vision. Dr. Irwin Cua, head of the Vision Laser Center, explained that one eye is corrected more for distance and intermediate vision, while the other is optimized for intermediate and near vision. The
brain then blends the images from both eyes to create a continuous range of useful vision. The objective, according to Dr. Jay Vicencio, head of the Eye Institute at St. Luke’s–Global City, is to make patients less dependent on glasses in their everyday lives. For appropriate patients who have presbyopia but do not have cataracts, PRESBYOND also provides an option that works on the cornea without immediately requiring removal of the natural lens. Dr. Reinstein, who is now 64, said he underwent the procedure 11 years ago and continues to see well. Because he has not developed a cataract, he has not needed lens surgery.
Prof. Dan Reinstein working on a patient
Technology and expertise working together
THE Visumax 800 is an upgrade from St. Luke’s previous Visumax system. According to Dr. Cua, the newer platform offers significantly faster laser delivery and refined precision, while its automated centering is designed to improve treatment accuracy. But St. Luke’s emphasizes that advanced technology must be supported by expertise. The Vision Laser Center is staffed by internationally trained, board-certified refractive surgeons, with the hospital noting that its refractive surgeons have been performing these procedures for almost a decade. The center also offers a range of refractive procedures, including PRK, LASIK, LASIK
From left, Dr. Jay Vicencio, Head, St. Luke’s – Global City’s Eye Institute; Prof. Dan Reinstein and Dr. Anthony R. Perez, St. Luke’s – Global City SVP and Medical Director
Dr. Irwin Cua. Head of St. Luke’s – Global City Vision Laser Center and the Visumax 800 Femtosecond Laser System
with PRESBYOND and SMILE Pro, with patients undergoing comprehensive screening to determine the most appropriate procedure for their eye condition and lifestyle. During the recent demonstration, two patients around 57 years old underwent PRESBYOND, while a 27-yearold patient underwent SMILE for distance correction. For Dr. Vicencio, the investment in the Visumax 800
Loss of near vision can affect a person's ability to work, particularly in occupations that require sustained close-up vision. He has also seen its impact in developing countries, where people may struggle to afford replacement glasses. His experience has reinforced his belief that better vision can contribute to productivity, professional longevity and, in some occupations, safety. For St. Luke’s, the arrival
reflects St. Luke’s commitment to bringing advanced technology to Filipino patients. The hospital's refractive team, he added, brings years of experience, while Dr. Reinstein's visit provided an opportunity for knowledge and expertise transfer.
More than freedom from reading glasses
FOR Dr. Reinstein, treating presbyopia is about more than convenience.
of the Visumax 800 therefore represents more than an equipment upgrade. It expands the hospital's ability to provide advanced, personalized refractive care, giving patients more options as their vision changes with age. And for Filipinos beginning to notice that fine print is no longer as easy to read as it once was, the future may offer more than simply reaching for reading glasses. It may offer a clearer vision for every stage of life.
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E4 Thursday, October 29, 2026
FILIPINO WARMTH
Towne Kids champions pediatric healthcare in US through Filipino nurses
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www.businessmirror.com.ph
Protecting vision before it changes: The Medical City South Luzon launches one-stop Eye Center
By Vincent Peter Rivera
EDIATRIC healthcare extends far beyond what meets the eye. Beneath the cheerful clinicians, vibrant rooms, and welcoming decor of a children’s facility lies a critical mission: ensuring every child has the chance to lead a full, healthy life. In the United States, one home-care provider is taking that mission a step further by incorporating renowned Filipino warmth into its specialized pediatric services. Towne Kids, U.S.-based pediatric home-care provider, recruits Filipino registered nurses to deliver one-on-one skilled nursing care for homebound children managing acute or chronic medical conditions. “Our goal is to bring these children home,” said CEO Mindy Tyner in an exclusive interview with BusinessMirror. “Every kid belongs at home with their parents and siblings—not in a hospital room.” By handling complex logistics and arranging continuous skilled care, the company relieves families of immense operational stress, allowing households to move forward with the assurance that their children are receiving high-quality medical support. Currently operating across New Jersey and Massachusetts, Towne Kids provides a comprehensive range of services tailored to pediatric needs, including ventilator management, tracheostomy care, enteral feeding, and ongoing clinical monitoring. The organization accepts Medicaid in both states alongside most major private insurance plans. Complementing its U.S. clinical operations, Towne Kids’ recruiters working through MMML Recruitment Services, Inc. in Manila actively hire qualified registered nurses, guiding them through licensing, immigration, clinical training, and relocation requirements. Operating as a direct-hire employer, the company covers processing fees without charging placement, recruitment, or hidden fees to its applicants. Through this dual-focused model, Towne Kids not only addresses critical pediatric needs across American homes but also creates sustainable, transparent career pathways for Filipino nurses seeking opportunities in the U.S. Today, that vision has evolved into a proven track record. To date, Towne Kids has deployed 303 Filipino registered nurses—comprising 231 women and 72 men—to dedicated pediatric home-care assignments across New Jersey and Massachusetts.
Bridging Filipino nurses to the US
CENTRAL to Towne Kids’ dual mission is an immigration model designed around transparency and long-term stability. The company recruits Filipino registered nurses for U.S. pediatric home-care positions primarily through the EB-3 visa—an employment-based immigrant visa category that grants permanent residency, commonly known as a Green Card, upon entry. Operating strictly as a direct-hire petitioner, Towne Kids files and sponsors each nurse’s application directly, assuming full financial responsibility for the transition. According to the company, covered expenses include the I-140 immigrant petition and government filing fees, CGFNS VisaScreen processing, state licensing requirements, visa interview preparation, and comprehensive relocation assistance upon arrival in the U.S. Significantly, Towne Kids also includes a nurse’s legally recognized spouse and unmarried children under age 21 as derivative beneficiaries within the same petition at no additional cost—ensuring entire families can relocate together. Building on five years of established operations, Towne Kids is expanding its recruitment infrastructure with the launch of its new initiative, “Step Up.” The program introduces an additional employment pathway targeted at qualified Filipino nurses who hold Canadian citizenship and reside in Canada, offering them eligible avenues to transition into U.S. pediatric home care via the TN visa category, subject to individual qualifications and U.S. regulatory standards.
Building holistic nurses and supportive environments
WHAT truly sets Towne Kids apart in the competitive healthcare recruitment sector is its willingness to invest in nurses regardless of their prior clinical background. While most U.S. recruitment agencies strictly require years of bedside experience, Towne Kids has built a comprehensive training framework that allows fresh graduates and non-practicing
Present at the opening of The Medical City South Luzon Eye Center were, from left, The Medical City South Luzon Chief Medical Officer Dr. Earl Richardson Chua, President and CEO Dr. Cesar Ramon G. Espiritu, Sta.Rosa, Laguna Mayor Arlene B. Arcillas, Vice Mayor Arnold B. Arcillas, and former Department of Health (DOH) Undersecretary Dr. Enrique “Eric” A. Tayag.
TOWNE Kids CEO Mindy Tyner.
registered nurses to transition into specialized pediatric home care. “Most of our nurses who come from the Philippines don’t have prior experience—and that really sets us apart,” Tyner explained. “Most agencies recruiting foreign nurses require experience, but we wanted to give opportunities to people who otherwise wouldn’t have them.” To bridge this skill gap, the provider has established a structured onboarding framework that begins well before deployment. Candidates first undergo comprehensive online modules and refresher courses covering U.S. healthcare delivery standards, followed by at least two weeks of dedicated clinical and cultural orientation. Upon arriving in the U.S., nurses undergo handson equipment training at Towne Kids’ specialized simulation lab, alongside mandatory medication competency evaluations and clinical checklist validations. They then complete clinical shadowing alongside experienced peer preceptors before receiving independent patient assignments, backed by annual professional reviews and ongoing, 24/7 clinical support. Beyond clinical preparation, Towne Kids focuses heavily on social integration and holistic well-being. Recognizing the cultural transition foreign nurses face, the company established virtual connection hubs like its “Towne Kids Coach Up Care” community, where staff share insights on everything from traditional Filipino cuisine to American holiday customs. To prevent burnout and foster genuine workplace connections, leadership regularly organizes in-person gatherings—ranging from casual coffee sessions and team lunches to Thanksgiving dinners and holiday galas—giving nurses space to unwind and connect. Equally central to Towne Kids’ operational ethos is supporting the families accompanying these healthcare workers. “While a large portion focuses on clinical training and career development, a huge emphasis is placed on personal success,” Tyner shared. “We
organize family events and actively help nurses adapt—whether that means finding schools for their children, helping their kids build social circles, or assisting both nurses and spouses with learning how to drive and purchasing a car.”
Moving forward with purpose
AS Towne Kids prepares for its next chapter, the organization’s primary focus remains centered on expanding its geographic reach and deepening its clinical impact across the United States. “Our goal is to help as many kids as possible,” Tyner emphasized. “We have a few other nearby states that we’re working on besides Massachusetts… like New York and Pennsylvania.” Alongside interstate expansion, Towne Kids is prioritizing continuous career development for its workforce. “One of our major goals is to provide continuous professional growth,” Tyner noted. “That means equipping field nurses with more skills, training, and development, offering opportunities in the office for administrative and management and oversight.” Ultimately, Towne Kids aims to cultivate a global network of medical professionals aligned around a shared ethical commitment to pediatric care. “We want to build an amazing community of nurses who share our core values—nurses looking for an employer who is genuinely committed to them, and who will enter this relationship equally dedicated to young patients who so desperately need skilled nursing care,” Tyner said. “We look for nurses who possess empathy and who deeply appreciate receiving that same empathy in return.” For Tyner, maintaining high standards of integrity and continuous self-improvement remains the driving force behind the organization’s growth strategy. “We hold ourselves accountable to a high level of integrity,” she concluded. “If you ask what defines Towne Kids, it comes down to our core values—and my personal favorite is evolving with purpose. That vision is truly who we are as a company as we step into the future.”
Experts call for personalized approach to cardiovascular care By Rizal Raoul S. Reyes | Contributor
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ARDIOVASCULAR care should go beyond a one-size-fits-all approach, with experts emphasizing the importance of assessing individual risk profiles, monitoring blood pressure, and adapting treatment strategies to help prevent serious complications. This was the central message of a one-day, face-to-face CV Masterclass organized by global healthcare company Viatris in the Philippines. The regional platform brought together healthcare professionals to discuss evidence-based approaches to cardiovascular care, drawing on international research and real-world clinical experience. Professor Ian Wilkinson, past president of the British and Irish Society and professor of therapeutics at the University of Cambridge, underscored the importance of early diagnosis and individualized treatment in reducing the risk of cardiovascular complications, including stroke, heart attack, and heart failure. “Early diagnosis and intervention are the best risk reduction and long-term cardiovascular outcome protection. Guidelines recommend CV risk assessment to understand patients’ probability of experiencing a cardiovascular event and also to personalize treatment,” Wilkinson said.
Managing hypertension through individualized care
HYPERTENSION remains a major cardiovascular
risk factor, making effective blood pressure management essential to reducing the likelihood of complications. Wilkinson outlined the 4S approach to blood pressure control, which encompasses salt reduction or replacement, appropriate drug selection and dosing, identifying pseudoresistant hypertension, and investigating secondary hypertension caused by other medical conditions. He emphasized that treatment decisions should be guided by the patient’s clinical profile and response to therapy. For suspected pseudoresistant hypertension, confirmation through ambulatory blood pressure monitoring (ABPM) or home blood pressure monitoring (HBPM) can help distinguish persistent hypertension from readings affected by other factors. Dr. Alejandro Bimbo Diaz, president of the Philippine Society of Hypertension, likewise highlighted the value of consistent monitoring, particularly in understanding blood pressure variability (BPV), or fluctuations in blood pressure over time. “We can think of blood pressure variability like the weather. How it shifts throughout the day, across weeks, or between periods provides a much clearer picture of a patient’s overall health and underlying clinical factors,” Diaz said. He noted that greater fluctuations i blood pressure have been associated with stress on vital organs, including the kidneys and brain, and may be linked to adverse outcomes such as stroke and cognitive impairment.
“With this knowledge, we can better anticipate potential complications and tailor treatment plans according to a patient’s individual profile,” he added.
Addressing the growing cardiovascular burden
CARDIOVASCULAR diseases (CVDs) remain a leading cause of death worldwide, with Asia accounting for a substantial share of the global burden. Figures cited in the event materials indicate that Asia accounted for more than 61 percent of global CVD deaths in 2021. Projections attributed to the Institute for Health Metrics and Evaluation (IHME) and the Global Burden of Disease (GBD) indicate that cardiovascular deaths could increase by 91.2 percent between 2025 and 2050, reaching 24.1 million annually by 2050. The projected increase highlights the need for coordinated efforts across healthcare systems to strengthen prevention, improve early detection, and support long-term disease management. “The cardiovascular landscape continues to evolve, and so must the way we address it,” said Dr. Nagendra Ramanjinappa, head of Viatris Medical Affairs for KLAM & I-AM. “The CV Masterclass provides an opportunity to deepen understanding among multidisciplinary experts. By bringing different perspectives and experiences into one conversation, we hope to connect scientific advances with real-world clinical experience and identify approaches that can be
meaningfully applied across the region,” he added. The masterclass gathered 101 participants who discussed hypertension, lipid management, heart failure, blood pressure variability, and digital health solutions. Discussions also examined how international evidence and clinical guidelines could be applied in Asian settings, including considerations for special and underrepresented populations.
Digital tools to support blood pressure management
BEYOND clinical discussions, the event featured the launch of the BEAT App (BPV Engagement & Adherence Tool), designed to support blood pressure monitoring and management. The application analyzes and visualizes blood pressure trends to help patients and healthcare professionals better understand BPV and support more informed clinical discussions. Its features include trend graphs, a clinician dashboard, educational modules, and reminders, with localized visuals intended to improve usability. Viatris also cited its Patient Academy, NCD Academy, and Medical Information Platform as part of its broader efforts to strengthen patient education, build healthcare professionals’ capabilities, and improve access to medical information. Together, these initiatives reflect the company’s stated commitment to expanding access to healthcare, fostering leadership, and building partnerships to support healthier lives at every stage.
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By Candy P. Dalizon
ANY serious eye conditions, including glaucoma, diabetic retinopathy, and age-related macular degeneration, can develop without noticeable symptoms in their early stages. By the time vision changes become apparent, some damage may already be irreversible. To help address this challenge, The Medical City (TMC) South Luzon has launched its Eye Center, a specialized facility offering comprehensive eye examinations, diagnostic services, and medical and surgical treatments for patients of all ages. The center brings together ophthalmologists and subspecialists, diagnostic equipment, and treatment capabilities in one location, allowing patients to access a wider range of eye care services without having to visit multiple clinics. Its services cover pediatric ophthalmology, retinal and macular diseases, glaucoma, neuro-ophthalmology, and refractive conditions, as well as other concerns affecting eye health.
Detecting eye diseases before vision loss
EARLY detection is particularly important for conditions such as glaucoma, which damages the optic nerve and can cause permanent vision loss. Diabetic retinopathy, meanwhile, can damage the blood vessels of the retina, sometimes before patients notice changes in their sight. Dr. Cesar Ramon G. Espiritu, president and CEO of TMC South Luzon and an ophthalmologist, emphasized the importance of screening and early intervention, particularly among people with diabetes. “If you look at diabetics who are type 2, you even have one-fourth of the population already with retinopathy. It’s very important that we detect these diseases early. And that’s why here, at the Eye Center of TMC South Luzon, it has already been a routine to have a fundus photograph of the eye, because that’s where glaucoma and diabetes manifest early,” Espiritu said. He explained that the center uses a camera that can capture retinal images without requiring pupil dilation in appropriate cases, making the examination more convenient for patients. “We do it with a camera that doesn’t need drops to dilate the pupils, so it’s very comfortable for the patient. And the patients go home without any effect on the vision,” he added. The center offers comprehensive eye assessments, including visual acuity testing, eye pressure measurement, slit lamp examinations, dilated fundus examinations, and evaluations for dry eye. Specialized diagnostic procedures include optical coherence tomography (OCT), retinal photography, visual field testing, corneal topography, pachymetry, and ocular ultrasonography. These examinations help ophthalmologists assess different structures of the eye, identify abnormalities, and determine the appropriate next steps for diagnosis and treatment.
Specialized care at every stage of life
THE Eye Center also provides services for children and adults with different eye care needs. Pediatric ophthalmology services address conditions such as significant refractive errors and strabismus, or misalignment of the eyes. The center also offers assessment and care for retinopathy of prematurity, a potentially serious retinal condition affecting some premature infants. For adults, its subspecialty services include the evaluation and management of retinal and macular diseases, glaucoma, and neuro-ophthalmological conditions. Patients requiring more specialized intervention can access treatment options such as cataract surgery using selected intraocular lenses, YAG laser procedures, glaucoma laser therapy, and retinal laser treatments for appropriate conditions. The center also offers diagnostic and treatment services for dry eye, including TearLab testing and BlephEx eyelid treatment. By integrating assessment, diagnosis, and treatment, the facility aims to make specialized eye care more accessible and convenient for patients.
Knowing when to seek an eye examination
ESPIRITU stressed that regular eye examinations are important even when vision appears normal. Screening schedules should be tailored to a person’s age, medical history, risk factors, and existing eye conditions. People with diabetes, in particular, need regular retinal examinations because diabetic retinopathy may progress without obvious symptoms. Those with high blood pressure should also discuss appropriate eye examinations with their healthcare providers. Children with suspected eye misalignment, significant vision difficulties, or other concerns should be evaluated promptly. Premature infants may require specialized retinal screening based on their clinical circumstances. Sudden changes in vision, flashes of light, a sudden increase in floaters, or eye pain warrant urgent medical assessment, as these symptoms may indicate conditions that require immediate attention. With its team of ophthalmologists, diagnostic capabilities, and range of medical, laser, and surgical services, the TMC South Luzon Eye Center seeks to provide a coordinated approach to eye health, from initial assessment to treatment and follow-up care. Patients interested in scheduling an appointment may contact the center at 0923 504 6092 or email tmcsl-ophthalmology@themedicalcity.com.
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TRANSPORTATION
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Thursday, October 29, 2026
G1
HOW LONG TILL WE GET A DECENT
COMMUTING EXPERIENCE? M 21 By Lorenz S. Marasigan
ORE than a decade ago, a group of transport planners met to describe the future of the region’s cities. Their vision for large cities wasn’t futuristic. It had no flying taxis, hyperloops, or autonomous fleets. It read like this: “Large cities will have mass transit systems. Modern jeepneys will serve feeder routes. Electric tricycles will serve residential areas and local streets. A significant number of cars will be hybrid or electric. And walking and cycling are promoted, and facilities provided for healthier cities.” Jose Regin F. Regidor helped write it. He is a professor and the director of the Institute of Civil Engineering at the University of the Philippines (UP) Diliman, and a fellow of its National Center for Transportation Studies. At the time, he was part of a group drafting long-term, low-carbon transport plans for countries in the Association of Southeast Asian Nations (ASEAN). Asked to compare
that vision with Metro Manila today, he gave a mixed assessment. “Looking back and then checking how it is now, we’ve actually realized parts of this vision,” he said in written responses to BusinessMirror. “But implementation or realization is much delayed.” A Filipino born in 2005, the year this newspaper started publishing, was a child when that vision was written. That Filipino turns 21 this year and is starting to commute to a first job. The city that person moves through has some of the planner’s city and is missing much of the rest. Rene Santiago, a transport economist, made a blunt forecast for what that generation will pass on to its own children.
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The next-generation transport does not require waiting until 2032, when most of the big-ticket projects are done. It can begin, says an advocate, with sidewalks, safe crossings and reliable buses.
Transformed, but not quite
“UNLESS we lift the weight of the last 50 years, the future may look more like an upgraded version of the present than a true transformation,” Santiago said. “New infrastructure may rise, but congestion, overcrowding, and lost hours may remain familiar companions. The children of Generation Z may inherit a transport system that is more modern in appearance, yet not fundamentally different in experience.” Both experts suggest that how the country defines “next generation” transport will decide whether Santiago’s forecast comes true. If next generation means the next megaproject, his forecast is likely. If it means making ordinary systems work, the forecast could be wrong.
The calendar a generation grew up with
PASSENGERS wait for public transport amid Metro Manila’s persistent commuting woes. Despite years of transport plans and major infrastructure projects, long waits and unreliable connections remain part of daily life for many commuters—a familiar scene in a city still waiting for its promised transport transformation. NONOY LACZA
THE large projects come first, because they have defined the debate for most of this generation’s life. In September 2014, the National Economic and Development Authority (NEDA) Board, now the Department of Economy, Planning, and Development (DEPDev), approved the Roadmap for Transport InfraContinued on G2
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How long till we get a decent commuting experience? Continued from G1
structure Development for Metro Manila and Its Surrounding Areas, developed with the Japan International Cooperation Agency (JICA). The Philippine and Japanese governments said their goal was a modern and efficient transport network for the capital region by 2030. A child born in 2005 was 9 when the roadmap was approved. That child will be 25 when the target year arrives. In March 2018, JICA signed a loan agreement for up to ¥104.53 billion for the first phase of the Metro Manila Subway. A month ago, then-Finance Secretary Carlos Dominguez III said the government would work toward making the line partially operational by 2022 at the latest. The child born in 2005 would have been 17. The subway is now targeted to open in full in 2032, with a demonstration run in 2028, according to Transportation Secretary Giovanni Lopez. As of July, the 33-kilometer, 17-station line was 58.61 percent complete overall but only 31.86 percent complete in construction. That gap suggests much of the counted progress is in design, procurement, and land acquisition, and much of the digging is still ahead. When the Asian Development Bank (ADB) approved financing for the North-South Commuter Railway (NSCR) in 2019, its board document stated that the system would be completed during 2022-2025. A year later, an ADB director
general said the Malolos–Clark segment was expected to be finished by 2024. The Department of Transportation (DOTr) now schedules the first partial operation, from Valenzuela to Malolos, in December 2027, with the Malolos-toClark segment “estimated to commence” in 2028. The Metro Rail Transit Line 7 (MRT 7) is older than the generation it was meant to serve. According to the Public-Private Partnership (PPP) Center, the proposal was first submitted to the then Department of Transportation and Communications (DOTC) in August 2001, and the concession agreement was signed in 2008. Construction began only in August 2016. Lopez said its first 12 stations will open in the second quarter of 2027. By then, the project will be 26 years old, and the 2005 generation will be 22. The cost of waiting is also on record. In 2018, JICA reported that congestion in Metro Manila cost about P3.5 billion a day, roughly 46 percent more than the P2.4 billion in the 2014 roadmap. Its chief representative at the time, Susumu Ito, said the figure would grow without new infrastructure. “If we do nothing, it will become P5.4 billion a day in 2035,” he said. Lopez does not deny the delays. “The gestation period of infrastructure, especially for the DOTr, is very long,” he said at a recent forum of the Economic Journalists Association of the
The bus lane argument
STATION FRUSTRATION Long queues build up at the EDSA Carousel Nepa Q-Mart Station in Quezon City on Tuesday, November 18, 2025, after
Metro Rail Transit Line 3 (MRT-3) temporarily halted southbound trips from the Santolan and Ortigas stations due to a technical problem. MRT-3 management said operations have been limited to five trains shuttling between the Shaw Boulevard and Taft Avenue stations, in both directions, while the issue is being fixed. NONOY LACZA
Philippines (EJAP), adding that it could be shortened “as long as those in office keep a close watch.” He described the budget as “a chicken-and-egg problem.”
The quieter measure
REGIDOR said the railway delays, serious as they are, are not the country’s most urgent transport failure. “We seem to be engrossed in tech tools and solutions, and leapfrogging for transportation when we are still unable to address the most basic items like sidewalks or pathways for pedestrians and decent public transportation,” he said. He acknowledges the trains
are late, but says they are not the most urgent problem. “While we are tremendously delayed with respect to mass transit systems such as subways and BRT [bus rapid transit], next generation should be making existing—or non-existent—basic systems work,” he said. “Providing sidewalks, safe crossings and a modern public transport system should be our target for the immediate future.” By his own vision’s checklist, the record is uneven. Rail is years behind schedule. Modern jeepneys and electric tricycles fall under the government’s modernization and route rationalization
programs, which he said have also hit obstacles.” Hybrid and electric cars are increasing, but he doubts policy deserves the credit. “This might be because of the fuel crisis,” he said. “Would they be as numerous if gas and diesel prices were half of what they are now?” Regidor said walking and cycling have gained the most public support and the least government follow-through. “Awareness and support for active transport are better than a decade ago,” he said, “but there is still much inertia from our national and local governments in as far as providing the needed infrastructure.”
THE DOTr’s own numbers support Regidor’s point that simple measures can work well. Its strongest recent result is not a railway. It is a bus lane. The Edsa Busway, a dedicated median lane on the capital’s main highway, carried about 67 million passengers last year, according to Lopez. He said three additional stations were 99 percent complete. The department has renamed the program the NCR Busway in its 2027 budget proposal, with plans to extend it to Quezon Avenue and Ortigas. “On EDSA, this is the only public transport on the road where busway commuters have a clear advantage over people driving private vehicles,” Lopez said. He said the department has adopted what it calls a commutercentric policy, with the busway playing a central role. “That’s why during our budget hearing, we cannot emphasize the importance of the Edsa Busway,” he said. Much of the DOTr’s other progress has also been small-scale. Students can now obtain concessionary White Beep Cards for the light rail lines in under five minutes, instead of waiting a week. Almost 500,000 cards had been issued as of March, many through visits to 70 campuses. MRT 3 has logged more than 12 million cashless transactions, and LRT 2 more than 547,000 bank card and e-wallet payments. Continued on G4
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How long till we get a decent commuting experience? Continued from G2
Busway units accept GCash taps, and 17 stations have free Wi-Fi from the Department of Information and Communications Technology (DICT). A single RFID account now works across both expressway toll networks. Lopez’s presentation also showed what happens when even basic infrastructure has no funding. During heavy rains, commuters walking between Trinoma Mall and the MRT 3 station had to cross a broken, flooded path. The DOTr had no budget to fix it, so Lopez asked San Miguel Corp. (SMC), the MRT 7 concessionaire, to pave and roof it as corporate social responsibility. “It’s getting embarrassing to keep asking our private partners for help,” he said. He added that the same budget limits explain why many station escalators remain broken. The government can finance a P873.6-billion commuter railway with foreign lenders, but a covered walkway to an existing train station needed a private company’s goodwill.
Spending on the present
IN the short term, most new public money has gone to helping commuters cope. Under Uplift, the government’s response to the economic effects of the conflict in the Middle East, the fuel subsidy for public utility vehicles rose to P12 per liter
from P10. Lopez said the DOTr has paid more than P1 billion to 107,000 units. A 50-percent fare discount on LRT 2 and MRT 3 has reached 36.35 million and 79.42 million passengers, respectively, as of mid-October. The revived Love Bus has carried nearly 13 million passengers free at peak hours in Metro Manila, Metro Cebu and Metro Davao. Rail discounts for students, seniors and persons with disabilities were raised to 50 percent from 20 percent. Santiago said these programs help riders today at a cost to the systems tomorrow’s riders will depend on. “Our attachment to fare discounts and fuel subsidies may appear compassionate today,” he said. “Yet policies that ease burdens in the present can also limit our capacity to address greater challenges in the future. Public resources are finite, and private investment retreats when returns become uncertain.” The capital that should flow steadily into buses, railways, ports and logistics, he said, “risks becoming a trickle.” Regidor called the programs “good stopgaps,” but stressed the word. “By stopgaps, this means these are temporary and just so while the government figures out what to do that is more sustainable and reliable,” he said. “Unfortunately, it is taking time to determine these while the transport situation continues to worsen.”
Starting journeys, finishing none
BOTH experts trace the problem to the same cause, and neither thinks it is a shortage of money or ideas. “The difficulty with Philippine transport is not a shortage of ideas. It is a shortage of continuity,” Santiago said. “Successive administrations often pursue new priorities before previous reforms have taken root. We have become adept at starting journeys, but less adept at finishing them. The result is a collection of projects rather than a coherent system.” Regidor said the same about the DOTr in particular. “Low-hanging fruit from one administration gets shelved or de-prioritized in the next,” he said. He expects this to continue under the next administration, which he called “pessimistic” but realistic “given our political system and the personalities involved.” Regidor also rejected Lopez’s chicken-and-egg explanation. “Even with the resources available, it seems the agency continues to suffer from absorptive capacity issues,” he said. He does not think that justifies cutting the budget. He thinks it calls for strengthening the department so it can plan, design, and build “without being too reliant on consultants or influencers.” “This was the situation decades ago. It is not a new thing,” he said. “So what have they been doing all these years? Is the DOTr hiring, nurturing and retaining qualified and competent staff?”
His proposed fix is a single agency modeled on Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT). It would combine DepDev, the Department of Public Works and Highways (DPWH), the DOTr, and the Department of Human Settlements and Urban Development (DHSUD). The agency’s success would depend on its head, he said. Years ago he would have named former Public Works Secretary Rogelio Singson. “Now perhaps it could be Sec. Balisacan,” he said, referring to DEPDev Secretary Arsenio Balisacan. Santiago said the main reform is not another project but the transformation of transport institutions, “their structure, their capabilities, and their culture.” “No transport system can outperform the institutions that govern it,” he said. “The mindset must be multi-modal, matching solutions to specific circumstances.”
‘Islands of excellence’
SANTIAGO does not predict complete failure, but he expects uneven results. “There will be areas of progress,” he said. “Aviation may approach international standards, and some seaports may emerge as globally competitive gateways. Yet islands of excellence could coexist with aging fleets and uneven connectivity, leaving the future and the past operating side by side.” That pattern is already visible. Since New Naia Infra Corp. (NNIC)
took over Ninoy Aquino International Airport (Naia) in September 2024, it has remitted P78 billion to the government, according to Lopez. He said the Manila International Airport Authority (MIAA) remitted about P30 billion over roughly three decades. Terminal 3 now has 78 biometric e-gates. At the same time, near Trinoma, commuters walked through floodwater to reach a train until a private company paved the path. A generation can grow up with both: a world-class airport gate and a muddy path to the train.
‘Plant trees, not grains’
SANTIAGO cited an old proverb: “For a one-year plan, plant grain; for a 10-year plan, plant trees; for a hundred-year plan, educate people.” The Philippines has planted grain repeatedly, in the form of subsidies, discounts, and free rides that help riders this year. The projects it started a decade or more ago, the railways, are only now coming close to completion. It has done the least of the third kind of planning, the long-term building of capable institutions. “Transport is not a contest to build the most advanced technology,” Santiago said. “It is the discipline of choosing the right solution for the right place. The future will not be built by copying what works elsewhere. It will be built by understanding what works here.” Lopez described a more modest goal. “What we’re after is that you
save time and money every day,” he said, “and that it’s not wasted just because of traffic.” He added that traffic is not the DOTr’s problem alone, and that it also depends on local governments, the DPWH, the Metropolitan Manila Development Authority (MMDA) and on drivers themselves. If current schedules hold, the generation born with this newspaper will be 21 when MRT 7 opens, 22 when the commuter railway first runs, and 27 when the subway reaches the airport. If the 2030 roadmap target passes without a finished network, that generation will be 25. In the meantime, its members will keep walking: along streets without sidewalks, across roads without safe crossings, to bus stops that a decade-old regional plan said should already be served by modern jeepneys. Regidor’s point is that nextgeneration transport does not require waiting until 2032. It can begin with sidewalks, safe crossings and reliable buses. “Only then,” Santiago said, “can we free ourselves from the weight of the last 50 years and build a transport system worthy of the next 20.” (Editor’s Note: The interview with Secretary Giovanni Lopez was conducted before the recent Cabinet swap with Secretary Vince Dizon, who is now Department of Transportation secretary. Lopez has been assigned to replace Dizon as head of the Department of Public Works and Highways.)
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FOREIGN AFFAIRS
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THE NEXT DIPLOMAT:
MANY HATS, ONE MISSION
A
By Malou Talosig-Bartolome
PHILIPPINE diplomat’s day can begin at a negotiating table and end at a detention center. The morning might be spent fighting over trade terms or fishing access. By noon, the same official may be listening to an overseas Filipino worker who has been abused by an employer or jailed. The afternoon goes to persuading investors. The evening goes to journalists, or to a family waiting for news. An estimated 10.8 million Filipinos live or work abroad, and their remittances help keep households and the economy afloat. Serving them is the foreign service’s daily business. As the world becomes harder to read, the question is who will do the work. Two senior officers shared their views with BusinessMirror. Ambassador Francisco Noel Fernandez III, now posted in Vietnam, is a former director-general
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As alliances shift, seas warm and software moves into the embassy, two serving envoys and two bodies of scholarship make the same point: the human diplomat is not going anywhere.
of the Foreign Service Institute (FSI), the Department of Foreign Affairs’ training academy. Roderico C. Atienza, chargé d’affaires en pied in Tripoli, Libya, has also served in Moscow, Seoul, Hong Kong, Abuja and Budapest. A former journalist, he was in Japan in 1997 for the negotiations that led to the Kyoto Protocol.
Changing, not disappearing
DIPLOMACY hasn’t become obsolete; it has simply become more crowded. States still negotiate treaties, manage alliances and protect citizens abroad. But they now share the international stage with humanitarian agencies, scientists,
“Independence is the product of competent statecraft, not of rhetorical distance from Washington.”— Ambassador Francisco Noel R. Fernandez III, Philippine ambassador to Vietnam
“Compassion is not the opposite of national interest. It is how the state maintains the legitimacy of its claim to represent its people.”— Roderico C. Atienza, chargé d’affaires en pied in Tripoli, Libya
coastal communities, migrant advocates, technology firms and local governments. That is the Philippine reality. Filipino diplomats deal week in and week out with labor agencies, scientists, local officials and advocacy groups. The diplomat remains responsible for connecting these actors to the state—and making the state’s position intelligible to all of them. For as long as countries must talk to one another, there will be diplomacy. The question is what kind of diplomat the work now requires.
Generalists first, specialists later
BOTH envoys agree that the foreign service will continue to need
generalists. Fernandez said a Filipino diplomat “is unable to anticipate the next assignment,” and hopes each officer will also choose a specialty and pursue it without being told to do so. Atienza would make that sequence deliberate. He noted that early- and mid-career officers should learn to write, negotiate, and run a mission. Later, they should develop expertise in areas such as alliance management, climate finance, or Islamic-world affairs. The goal, he said, is to field officers who are “credible rather than merely articulate.” He related that his own postings worked because a generalist foundation let him add regional and language depth.
Independence is competence
THE diplomatic workload keeps growing. Manila is balancing its treaty alliance with the United States while expanding ties with Japan, Australia, India, South Korea, and Europe. Continued on H2
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It engages China while defending the 2016 arbitral award on the West Philippine Sea. This year, it also chairs the Association of Southeast Asian Nations (ASEAN), placing the region’s diplomacy on its doorstep. Atienza’s formula is “working with our givens.” He argued that strategic independence does not mean equidistance or abandoning the US alliance. It means using the alliance fully while refusing to let it become exclusive. “Independence is the product of competent statecraft, not of rhetorical distance from Washington,” he said. He praised President Marcos Jr.’s outreach to Japan and Europe, and wants deeper ties with Muslim countries beyond what he calls the three O’s: oil, OFWs and the Organization of Islamic Cooperation. He explained that the lessons from forming the Bangsamoro region make that practical. Closer to home, he wants the Philippines present in all ten other ASEAN countries and “practically indispensable” to each. Fernandez said Filipinos sometimes undersell their own country. The belief that the Philippines is “a mere speck in the globe, poor, and without influence” is, in his words, “the product of a colonial education.” He sees a rising middle power that can shape global thinking on migration, gender, development, and marine science.
Protecting Filipinos first
FERNANDEZ’S sharpest point concerns priorities. Republic Act No. 8042, the Migrant Workers and Overseas Filipinos Act of 1995, makes consular service the primary mission of Philippine posts abroad. He worries this mandate is slipping away from view. “The mentality of recognizing the legal directive to put consular services at the forefront of Philippine foreign policy is slowly eroding,” he said. When political or economic goals collide with protecting Filipinos, he argued, the latter should “take the backseat.” Staffing makes the task harder. He noted that posts are still manned mainly by DFA personnel while other agencies “continue to fall behind” in expanding their presence. Diplomats end up filling gaps that social workers would normally fill, including providing mental first aid to Filipinos in distress. Atienza approaches the same responsibility from a different perspective. The Department of Migrant Workers, which began operations in 2022, now handles the specific needs of OFWs. That frees the DFA, he said, to serve all overseas Filipinos, including children of mixedparentage families and those who settled abroad by choice. He wants consular work to move from paperwork toward “proactive protection.” Today’s cases involve labor abuse, digital scams, family disputes, climate displacement, and irregular migration routes.
MULTIPLE ROLES The diplomat may not be the country’s top lawyer, economist, or marketer. But the diplomat must know enough about each field to bring the right people together and make sound decisions. DANA ROTHSTEIN | DREAMSTIME.COM
Officers will need legal literacy, data skills, and the authority to intervene earlier. He also wants a one-stop application that allows Filipinos to build a reliable online record. “Compassion is not the opposite of national interest,” Atienza said. “It is how the state maintains the legitimacy of its claim to represent its people.” Their emphases differ, though they do not clash. Atienza also wants the DFA to take clearer leadership in economic diplomacy, and objects to treating economic and consular work as “lesser forms of diplomacy.”
Climate and foresight
THE Philippines ranks among the world’s most disaster-exposed countries. Its diplomats negotiate over climate finance, disaster aid and loss-and-damage funding. The country also hosts the board of the global fund meant to cover climate losses. Atienza wants the foreign service to give climate the urgency it gave the South China Sea within a decade, with specialists across the range of climate impacts. A vulnerable country, he said, must speak with technical precision and moral clarity “without being dismissed as a mere supplicant.” Fernandez said the key skill is foresight. Without a firm grasp of science, a diplomat “would merely become reactive to change.”
A tool, not the decision-maker
RESEARCH on artificial intelligence in diplomacy suggests that software can speed up treaty analysis, forecast negotiating outcomes and simulate how parties may respond at the table. But scholars also warn of opaque reasoning, biased training data, privacy risks and excessive trust in predictions. AI lacks the intuition, empathy and cultural awareness that human diplomats bring to a negotiation. The two envoys agree. Atienza said the foreign service should not fear the technology. It can remove the “mechanical drudgery” of dossiers and briefing papers, and shorten the time between taking notes and filing a report. He expects such tools to become commonplace after 2027.
DFA’s first Public Diplomacy Caravan with 4,000 students of the Isabela State University in Cauayan, Isabela on 23 January 2025. DFA ON FACEBOOK
But AI will never replace the judgment needed to decide “how firmly to lean on an alliance partner,” he said. Part of the job is knowing when to set aside an algorithm’s recommendation. Fernandez expects “bespoke software programs for generating foreign policy reports” soon. A diplomat must still choose which analytical lens the report should use, he said, and know enough to tell whether the result is any good.
Training, tradition and talent
ATIENZA wants AI literacy programs that teach diplomats to read outputs critically and catch bias. Fernandez wants results: officers who can “lead, write, think, anticipate.” FSI cadets already take a graduate certificate in public management contracted by the institute from the Development Academy of the Philippines. Atienza would go further on languages, with one to six months of full-time instruction before posting. He would also place mid-career officers with a local government unit in an underserved barangay or municipality, so they remain close to the communities that send out the most migrants. Neither diplomat wants the old ways discarded. “Diplomacy is founded and operated on tradition,” Fernandez said. Atienza is more specific about what should go: a promotion process that can go beyond one year and under-investment in languages and specialized knowledge. For Fernandez, the deeper
question is who will choose the profession. The future of Philippine diplomacy, he said, depends on attracting “the best and the brightest” Filipinos whose passion is public service.
More than a jack of all trades
“JACK of all trades, master of none” can sound dismissive. In diplomacy, it should be understood differently. The diplomat may not be the country’s top lawyer, economist, psychologist, scientist, or marketer. But the diplomat must know enough about each field to bring the right people together and make sound decisions.
The real expertise is integration
A DIPLOMAT connects the fisher to the maritime lawyer, the worker to the consular officer, the investor to the economic agency, the scientist to the policymaker, and the national interest to the human being affected by it. In a world of shifting alliances, climate emergencies, social-media pressure and artificial intelligence, the diplomat’s greatest asset will remain judgment—supported by knowledge, strengthened by empathy and guided by service. The future of Philippine diplomacy will belong to professionals who can be firm without being arrogant, compassionate without being naïve, persuasive without being manipulative, and adaptable without losing principle. They will wear many hats. But beneath all of them, they will carry one responsibility: to make the Philippines understood, respected, and protected in a world that never stops changing.
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EDUCATION
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THE PHIL. EDUCATION SECTOR: FUTURE-READY IN THE AI ERA?
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A
Preparing learners for an AI-driven world requires more than digital tools—it calls for adaptable skills, capable teachers, and a renewed focus on human development.
By Mike Policarpio
S artificial intelligence (AI) reshapes workplaces and new technologies change how people learn, communicate, and work, Philippine education faces a defining question: How can schools and universities prepare students not only for their first jobs but also for a future in which the skills they need may continually change? The challenge goes beyond introducing digital tools into classrooms: It calls for a system that develops critical thinking, creativity, communication, adaptability, and
sound judgment alongside academic knowledge and technical competence. The country is already underway with this transition. Gov-
ernment agencies, educational institutions, and private-sector partners are pursuing initiatives in AI literacy, digital learning, teacher development, and skillsbased education. These efforts point toward a broader vision of future readiness—one that combines technological capability with human values and lifelong learning.
Beyond the AI classroom
ARTIFICIAL INTELLIGENCE is increasingly finding its place in teaching and learning, from helping educators prepare lessons to providing students with more personalized support. Its potential is particularly significant in a country where teachers face substantial workloads and learners have varying levels of proficiency. Continued on h4
PRESIDENT Marcos Jr. (seated) tries Microsoft Reading Progress with Secretary Angara, students, and educators at Quezon City Science High School during the launch of the country’s first nationwide responsible AI integration program.
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The Phil. education sector: Future-ready in the AI era? Continued from H3
Recently, the Department of Education (DepEd) partnered with a global tech firm to equip up to 1 million public school teachers with access to AI-assisted tools for lesson planning, personalized instruction, and administrative work. These include reading recovery support and monitoring students’ reading progress. Nationwide AIskilling activities have also engaged more than 175,000 educators. Such applications could give teachers more time to focus on instruction and individual learners. AI-assisted tools may help generate exercises, develop assessment rubrics, and identify areas where students may require additional practice. But access to technology is only the beginning. Teachers must improve their proficiency in using these tools, assess their outputs, and protect students’ privacy. They also need to recognize when a learner requires human guidance rather than an automated response. A similar principle applies to students. AI can explain concepts, suggest approaches to a problem, and help learners practice at their own pace. On the flip side, it can also produce incorrect information or answers that appear convincing but lack sound reasoning. Students therefore need to learn not merely to prompt an AI system, but to question, verify, and evaluate its responses. From a broader perspective, the Asean Foundation’s “AI Ready Asean” initiative, supported by regional and technology-sector partners, seeks to expand applied AI skills among students and educators across Southeast Asia. Its second phase aims to reach over 1.7 million participants by 2028. These initiatives underscore a crucial distinction: AI literacy should not mean simply learning to operate a tool; it should consider understanding its limitations, recognizing ethical concerns, and knowing when human judgment must take precedence.
The human advantage
AS AI expands its capabilities, the qualities that distinguish effective workers may become even more vital. Critical thinking, empathy, collaboration, creativity, and ethical decision-making cannot be treated as secondary learning outcomes.
Universities are beginning to reflect this shift in their programs. For example, a major higher education institution has introduced a mandatory introductory course in prompt engineering for incoming students and faculty, while incorporating AI into simulations that let learners practice decision-making in realistic situations. Its approach also emphasizes ethical use and human empathy. Such initiatives suggest that AI education need not be confined to computing or engineering courses. Students in business, health care, education, tourism, and other fields will also need to understand how intelligent systems affect their work. The objective is not to make every student a technology specialist; rather, it is to help learners become informed users of technology who can apply it to real-world problems without surrendering their capacity for independent thought. An opinion-editorial in last year’s BusinessMirror Education section highlighted the importance of digital maturity in education. According to the piece, the issue is not simply whether institutions have digital platforms, but whether they integrate technology, data, and teaching practices in ways that improve learning outcomes and support educators. That distinction matters in the Philippines, where access to devices, reliable connectivity, and suitable learning environments remains uneven. A school cannot become future-ready through software alone if teachers lack training, students cannot consistently connect to the Internet, or basic learning needs remain unmet.
From diplomas to demonstrable skills
PREPARING students for the future also means rethinking how education connects with employment. Traditional degrees remain integral, but changing industries increasingly require workers to acquire new competencies throughout their careers. A graduate’s readiness may depend not only on a diploma, but also on the ability to demonstrate specific, relevant skills. The Commission on Higher Education (CHED) has taken a step in this direction through Memorandum Order 1, series of
TECHNOLOGY firms are also equipping Filipino educators and learners with powerful tools to make learning more engaging, collaborative, and effective.
2025, which establishes guidelines for the development, approval, and recognition of micro-credentials in higher education. These short, competency-based learning units can demonstrate specific capabilities. Depending on their design and recognition, these units may be integrated into degree programs or accumulated through flexible learning pathways. They can also help
working professionals update their skills without necessarily returning to school for another full degree. Educational institutions are developing offerings in areas such as information technology, engineering, business, tourism, and other industry-related fields. For students, these credentials can help bridge the gap between academic preparation and workplace expectations. For employers, they can provide additional evidence of what a prospective employee knows and can do. Micro-credentials, however, should complement, not automatically replace, formal qualifications. Their value depends on credible assessment, clear learning outcomes, recognized providers, and meaningful links to actual work needs. The broader goal is to create a more flexible system wherein education does not end with graduation. Workers should be able to return for new skills as industries change, while employers and educational institutions share responsibilities for identifying emerging needs.
Teachers, learners at the center
NO education reform can succeed without capable teachers. Educators must be supported not only with digital platforms and devices, but also with continuing professional development, adequate preparation time, and opportunities to exchange effective teaching practices. Technology-sector initiatives that combine classroom devices with training and digital-security support can contribute to this efforts. Yet these programs work best when they respond to schools’ and teachers’ needs, rather than simply introducing new products. The same principle applies to learning recovery. DepEd’s ARAL TutorKo platform—designed to streamline tutor recruitment, deployment, and session monitoring under the Academic Recovery and Accessible Learning program—illustrates how digital systems can support more organized interventions in foundational literacy and numeracy. These basic competencies remain indispensable. Students who struggle to read with comprehension or perform essential mathematical tasks may benefit less from advanced digital learning. Future readiness therefore requires both innovation and sustained attention to foundational learning. Student well-being must also be part of the equation. Mental health support, guidance and counseling, safe learning environments, and opportunities to develop social skills are not extras to address after academic performance. They help determine
whether students can learn effectively, build relationships, and cope with uncertainty. Schools and universities must prepare young people to work with others, resolve disagreements, make responsible decisions, and respond constructively to setbacks. These capabilities will remain valuable regardless of how quickly technology advances.
Rising to next-gen challenges
THE next phase of Philippine education will warrant coordination among government, schools, universities, families, and industries. Each has a role in ensuring that innovation translates into better learning rather than widening existing inequalities. The national government must establish sound policies, invest in foundational education, as well as provide the infrastructure and support schools need. Educational institutions must update curricula and assessment practices while preserving academic rigor. Employers can help identify relevant competencies and provide opportunities for practical learning. Teachers must have the training and professional trust to guide students through changing technologies. Most importantly, success should be measured by what learners can actually do—not simply by the number of devices distributed, AI accounts activated, or certificates issued. Can students evaluate information critically, communicate clearly, solve unfamiliar problems, and apply their knowledge responsibly? Can graduates demonstrate workplace-relevant skills and continue learning as their industries evolve? Can teachers use technology to reach learners more effectively without losing the human connection at the heart of education? These questions offer more meaningful measures of progress than technology adoption alone. The future of Philippine education presents both an urgent responsibility and an opportunity: The country must prepare learners for a rapidly changing world while ensuring innovation serves the broader purpose of education. The next generation will need digital fluency, adaptable skills, and the confidence to learn throughout life. But it will also need empathy, integrity, sound judgment, and the ability to work with others. The challenge, ultimately, is not to build a school system that merely keeps pace with technology. It is to build one that equips Filipinos to shape their future and that of their country.
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CREATIVE INDUSTRY
BusinessMirror
Thursday, October 29, 2026
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WHEN AI TAKES THE FIRST NOTE Creative workers feel the cost of automation JINGLE used to begin with a room full of possibilities: arrangers pitching melodies, singers testing notes, and production teams building a sound that might never make it to air. Now, some of those ideas start with a prompt, while the people once paid to create them are finding fewer opportunities to work. As artificial intelligence (AI) gets better at producing music and imitating human voices, creative workers are confronting a less visible cost: losing paid assignments that once sustained their livelihoods, even before a finished song or advertisement reaches an audience. For voice artist Ericka Peralejo, AI is changing how jingles are made, who gets hired, and how much creative freedom remains for people whose skills have long supported the advertising industry. Before AI-generated music
entered the process, advertising agencies commissioned audio production houses to develop jingle concepts, with several arrangers creating competing versions and singers hired to record them before clients selected a final output. Even rejected concepts generated income because the people who worked on them were paid, allowing musicians to earn from the creative process long before a finished advertisement reached the public. “Eighty to 85 percent of our work happens in those early stages,” Peralejo said, referring to preproduction, when arrangers and singers developed versions that clients could accept or reject.
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Whether ongoing consultations and policy development will translate into protections workers can use when a client switches to AI-generated content remains a key question for an industry where many people work project to project.
SVETLANA SHAMSHURINA | DREAMSTIME.COM
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By Mary Jade Jadormio
“Those that are rejected and never released are actually what sustain us,” she said. Now, Peralejo said, some advertising agencies generate jingle concepts using AI and approach production houses to recreate the output with human musicians, reducing the need for workers to develop original ideas from scratch. “They no longer approach us to create something,” the artist told the BusinessMirror. “They come to us to copy what they prompted.” The change has not necessarily reduced talent fees, but it has cut into the number of assignments available to performers and arrangers. “What has changed is the volume of work,” Peralejo said. She estimated that her income from voice work had dropped to about 30 percent of her usual annual earnings, while emphasizing that this was her personal estimate, not an industry-wide figure. The decline has become worrying as bookings slowed even during the period when production houses would normally be preparing Christmas jingles. Continued on I2
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Thursday, October 29, 2026
WHEN AI TAKES THE FIRST NOTE: Continued from I1
A growing industry, a vulnerable workforce
THE pressure comes as the Philippine creative economy continues to contribute significantly to national output and employment. The Philippine Statistics Authority (PSA) estimated that the creative economy generated P2.12 trillion in 2025, up by 6.9 percent from P1.98 trillion in 2024, and accounted for 7.6 percent of gross domestic product. Employment in creative industries, however, slipped to 8.71 million in 2025 from 8.74 million a year earlier, a decline of 0.4 percent, even as the sector accounted for 17.8 percent of total employment nationwide, according to the PSA’s latest creative-economy estimates. Those figures cover a broad range of activities, from audiovisual media, music and entertainment to advertising, publishing, digital interactive services, visual arts and traditional cultural expressions. Although the figures do not measure AI-related displacement, they show how many livelihoods could be affected as production methods change across a sector generating billions of pesos in economic value. A study by the Department of Labor and Employment’s (DOLE) Institute for Labor Studies (ILS) has documented vulnerabilities among freelance and contract
workers in broadcast media and theater, including limited access to workplace safeguards and difficulties securing representation in discussions about working conditions. The study also cited estimates from the Film Development Council of the Philippines that freelancers accounted for 70 to 80 percent of the film and audiovisual workforce, including people working in film, broadcasting, live events and advertising. Federation of Free Workers President Sonny Matula said displacement does not always involve formal termination, particularly for freelancers who rely on successive projects to sustain their income. “For freelancers, fewer bookings mean lost income and underemployment, even if rates remain unchanged,” Matula told this newspaper. He illustrated the problem with a worker paid P5,000 per project, who would earn P20,000 from four assignments compared with P50,000 from 10 projects. “The government should track assignments, paid hours, earnings and the role of AI—not just whether workers remain employed,” he said.
From music generation to voice replication
MUSIC technology professional Bong Bong Abaya said AI can already generate musical ideas from simple prompts, though the
results can still sound recognizably artificial. “AI is at a stage where it can create ideas from layman-style prompts, but it still has a distinguishable AI feel and sound to it,” Abaya said. He explained that human musicians also help develop generative music tools, as data companies hire them to annotate musical elements and structures in existing recordings. The technology can therefore enter the production process even when a human musician is still hired to finish the work, with the initial idea coming from a generated sample and the musician tasked with making it sound more natural. Abaya said listeners could detect AI-generated music through inconsistencies in phrasing Tagalog words. Meanwhile, instrumentals can sound generic when they rely on familiar musical patterns associated with particular genres. “From a subjective and artistic standpoint, you can feel that it has no soul, and no human error that creates the feel of the song or the genre,” he said. Department of Science and Technology Secretary Renato Solidum Jr. said AI systems are expected to become more capable in Philippine languages and better at completing selected multistep tasks with less human intervention over the next five years. The technology’s development
THE SOUND OF DISRUPTION A screenshot of Suno, an artificial intelligence-powered music-generation app that creates songs from text
prompts. As AI tools reshape music and advertising production, Filipino voice artists and musicians say fewer creative assignments are affecting their livelihoods, even when human performers are still hired to refine AI-generated output. AGUSTIN A | DREAMSTIME.COM
will depend not only on more capable models but also on computing infrastructure, quality data, connectivity, cybersecurity, skilled workers, and clear rules on responsibility and oversight, he said. “Ultimately, our goal should not be to pursue AI autonomy simply because it is possible,” Solidum said. “The goal is to use AI where it can make public services better, strengthen scientific capability, improve productivity, and enhance safety—while keeping appropriate human oversight and accountability.” For creative workers, however, the immediate concern is how these technological changes affect their ability to earn from work they once performed themselves.
DOLE studies safeguards for creative workers
DOLE said it has been developing measures to prepare the workforce for AI while maintaining labor protections, including regional consultations in Luzon, Visayas and Mindanao in March 2025. The consultations brought together government agencies, employers, workers’ organizations and technology experts to help craft a discussion paper on the responsible use of AI in the workplace, according to responses prepared by the department’s Planning Service. “The department’s strategic framework is guided by a humancentered approach to technology,” DOLE Usec. Carmela Ilustre-Torres told the BusinessMirror. Torres said the department is outlining an approach that includes an AI roadmap focused on workforce adaptability, fairness
and continuous labor-market monitoring. The department also said it is aligning its work with the government’s principles for the ethical and responsible development, deployment, and use of AI, including proportionality, transparency and non-discrimination. For creative workers, DOLE cited ILS research on social dialogue mechanisms to promote decent working conditions for freelance and contract workers in broadcast media and theater. DOLE said the discussions explored possible adjustments to existing tripartite and bipartite mechanisms and ways to advance decent work in the creative industry. “By engaging directly with creative guilds and industry stakeholders, DOLE is exploring how to adjust existing tripartite and bipartite mechanisms to protect creative professionals whose livelihoods are being reshaped by AIdriven automation,” Torres told this newspaper. DOLE also acknowledged that AI’s ability to replicate human voices and produce music poses challenges to the livelihoods and intellectual property of musicians and voice artists, many of whom work under project-based arrangements. “To protect the creative industry, DOLE is advancing a multipronged approach rooted in Shared Labor Market Governance and Social Dialogue,” DOLE said. It said it is pursuing dialogue among creative worker groups, broadcast networks, and production companies to explore fair-use guidelines and equitable contracting standards for AI-generated
content, while working with interagency partners to protect Filipino artists against unauthorized AI training and replication. The department also cited upskilling and reskilling initiatives intended to help creative professionals use AI to improve their productivity, as well as livelihood and entrepreneurship support for artists facing immediate income losses. That distinction matters to freelancers such as Peralejo, who said some production houses ask permission before using a recording in AI systems. However, performers who deal directly with advertising agencies may not always be kept informed. “Not all of us work through an audio production house,” she said. “Sometimes, we deal directly with an advertising agency, and they don’t always ask.” The same concern has reached dubbing, where Peralejo said voice artists noticed fewer assignments for short-form vertical videos after a surge in work dubbing Chinese videos into English in the Philippines last year. “This year, we suddenly started asking one another whether we were simply no longer getting hired or whether there was no work,” she said. “We eventually learned that even those vertical videos were using AI voices.” Local dubbing rates were already substantially lower than international rates, she added, making the reduction in assignments particularly difficult for performers who depend on the volume of work to earn a living. Peralejo has not confirmed that her own voice was cloned
ng to Next-Gen Challenges
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Thursday, October 29, 2026
Creative workers feel the cost of automation
SAFEGUARDING HUMAN WORK As AI tools become more widespread, creative workers need stronger safeguards against unauthorized use of their works and voices. ANDREI DODONOV | DREAMSTIME.COM without her knowledge, but said colleagues had reported finding their voices used elsewhere. “Of course, we can file a case, but even going to court is a privilege,” she said. “Not everyone has the resources for that.” Insisting on written contracts and restrictions on AI use can also put freelancers in a difficult position, she said, because some clients may choose another performer rather than agree to additional conditions.
Rights, consent and compensation
THE Intellectual Property Office of the Philippines has recognized the challenges AI-generated music poses to rights management and fair remuneration. Meanwhile, existing intellectual property protections do not automatically resolve every question involving AI training or voice replication. Under Republic Act No. 8293, or the Intellectual Property Code of the Philippines, performers
have protected rights relating to their performances, including provisions governing recording, reproduction, and distribution. However, using an existing recording to train or generate an AI replica can raise questions about whether the original permission covers that use, what a contract allows, and whether the resulting output infringes protected rights. Matula said creative workers need stronger safeguards against the unauthorized use of their work
and voices as AI tools become more widespread. These should include separate, informed consent for AI training and voice replication; clear limits on the purpose, duration, and users of replicas; and fair compensation separate from the original recording fee. He also called for protection against contracts that force workers to surrender their rights, disclosure and accessible remedies for unauthorized use, and collective bargaining through unions and freelancers’ associations. “Freelance should not mean free for anyone to copy,” Matula said. He stressed that a single recording fee should not give clients unlimited rights to profit from a performer’s digital voice. “The voice is a worker’s livelihood and identity,” he said. “A single recording fee should not become a license to profit from someone’s digital voice forever.” Republic Act No. 11904, or the Philippine Creative Industries Development Act, provides a policy framework for supporting creative workers as technology and industry practices change. The law provides for research and analysis of technological advances and their effects on creative labor markets, alongside programs promoting employment, worker welfare, and sus-
tainable working conditions. It also established the Creative Workers’ Welfare Committee, which includes DOLE, to help ensure that creative workers— including those in freelance and nonstandard employment—have access to sustainable and dignified work. For Matula, stronger safeguards must go hand in hand with better information about how AI is affecting workers’ actual earnings and assignments, rather than relying solely on headline employment figures. Whether ongoing consultations and policy development will translate into protections workers can use when a client switches to AI-generated content remains a key question for an industry where many people work project to project.
Keeping the next generation in the industry
PERALEJO worries that fewer assignments will leave newcomers with fewer opportunities to gain experience, build portfolios and establish relationships with clients. She has worked in voice artistry since her early teens and relies on the profession as a major source of income for her family, making the uncertainty particularly personal. “People ask me on TikTok how to enter this industry, and I have
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answers for them,” she said. “But I also want to ask them whether they are sure, especially in this day and age.” Her concern is that entry-level performers may find it increasingly difficult to build a career if clients use AI for initial concepts, revisions, and projects that once served as a training ground for newcomers. Peralejo said the government should move beyond telling workers to learn how to use AI wisely and conduct its own research into how the technology is changing their livelihoods. “It needs to do the work, conduct research and studies, and protect its artists and citizens,” she said. A prompt can produce a melody in seconds, but behind every jingle that never reaches a recording studio may be an arranger who loses a commission, a singer who misses a paycheck, or a newcomer who never gets the chance to prove what a human voice can do. The finished advertisement may sound complete, the music may reach its audience, and the machinery behind it may remain invisible. However, for the people who once filled studios with ideas, the silence is already beginning to cost them. “Humans are supposed to be irreplaceable,” Peralejo said. “Let’s keep it that way.”
Rising to Next-Gen Challenges
I4 Thursday, October 29, 2026
PROPERTY
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AI chip boom opens new market for PHL industrial property
ZONED FOR GROWTH An aerial view of the Cavite Economic Zone in Rosario, Cavite, one of the Philippines’ industrial hubs with electronics and
other manufacturing operations. Growing global demand for semiconductors, driven partly by artificial intelligence and data-center investments, is creating opportunities for specialized manufacturing facilities and supporting industrial infrastructure. MICHAEL EDWARDS | DREAMSTIME.COM
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The growing demand for specialized manufacturing facilities and decentralized retail distribution could broaden the country’s industrial property market. Each demand driver, however, requires distinct facilities and infrastructure.
By John Eiron R. Francisco
HILIPPINE industrial real estate is gaining a potential new growth driver as the global artificial intelligence (AI) boom boosts semiconductor demand, with electronics production growth creating opportunities for specialized manufacturing facilities inside economic zones. According to PRIME Philippines’ third-quarter 2026 Philippine Property Market Report, the country’s expanding electronics supply chain could generate demand for industrial spaces that meet the technical requirements of semiconductor and electronics manufacturers, including cleanroom-ready facilities and reliable power supply. Semiconductor exports surged 73.5 percent year on year to $5.2 billion in August 2026, accounting for roughly 85 percent of the country’s major electronic export categories, the property consultancy said during its media briefing themed “Chasing the Storm: Tracking Philippine Real Estate’s Second Wind.” The value of production for electronics, computer and optical products also grew by double digits year on year every month from October 2025, reaching 17.2 percent growth in July 2026. These developments point to a potential shift in industrial property demand, with specialized manufacturing facilities emerging as an opportunity beyond conventional warehouses and logistics centers. PRIME noted that growth is concentrated in a specific segment
of the manufacturing industry, with demand favoring economic zone facilities designed to meet the operational needs of electronics manufacturers rather than generic warehouse space. For property developers and industrial estate operators, this could create opportunities to attract companies seeking facilities suited to increasingly specialized production needs. However, the extent of the opportunity will depend on whether the country’s available industrial properties can meet manufacturers’ requirements.
‘Warehouses follow the crowd’
THE electronics supply chain is also emerging alongside the expansion of retail and distribution networks outside Metro Manila, creating additional sources of demand for industrial real estate. In 2025, CALABARZON and Central Luzon recorded 8.6 million square meters and 7.9 million square meters, respectively, in approved construction floor area, both exceeding Metro Manila’s 6.8 million square meters. Central Visayas ranked fourth nationwide, with 3.2 million square meters. Retailers are expanding distribution networks to serve con-
sumers in provincial markets. Alfamart supplies more than 2,300 stores across Luzon through distribution hubs in Pampanga, Cavite and Quezon, while DALI has opened its sixth distribution center in Naic, Cavite, and expanded into Cebu. Seven-Eleven has also added distribution hubs in Ormoc and Zamboanga. PRIME reported that warehouse demand in Luzon doubled in a year as logistics companies moved closer to consumers, pointing to expanding opportunities in secondary locations beyond the traditional Metro Manila logistics belt. The growing demand for specialized manufacturing facilities and decentralized retail distribution could broaden the country’s industrial property market. Each demand driver, however, requires distinct facilities and infrastructure. For the property sector, the challenge will be identifying locations with industrial infrastructure, reliable power supply, and suitable facilities needed to sustain business expansion as new sources of demand emerge. Moreover, according to PRIME, the warehouse expansion is set to continue over the next two years, with about 118,000 square meters of new space slated for completion in 2027 and another 268,000 square meters in 2028. Bulacan will lead the 2027 pipeline with 89,835 square meters, as industrial development pushes northward from Meycauayan. Batangas is projected to add 150,000 square meters of warehouse space in 2028. More than half, or 56 percent, of the planned supply will be developed within industrial parks, highlighting occupiers’ preference for quality facilities and the fiscal incentives available in accredited parks.
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ENERGY
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Thursday, October 29, 2026
NUCLEAR ENERGY: A pillar of the country’s next-generation power technology While some groups argue that the Philippines should focus exclusively on a 100-percent renewable path, the current administration views nuclear and renewables as complementary partners to secure energy independence and achieve decarbonization goals.
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By Lenie Lectura
HE Philippines maintains aggressive targets to shift its energy portfolio toward green power. To provide clean, stable baseload power generation that complements renewables, the country has stepped on the gas to advance its nuclear goals. “I think nuclear is the next step because we are already maturing on renewables and it’s difficult to be dependent on imported fuel. That’s really very painful for us when things don’t go well around the world,” said Department of Energy (DOE) Secretary Sharon Garin in an interview. The energy chief is leading the Philippines’ push to integrate nuclear energy into the national power mix, targeting 1,200 megawatts (MW) of nuclear capacity by 2032 and scaling up to 4,800MW by 2050. This timeline is heavily anchored on the commercial rollout of small nuclear reactors (SMRs). The agency is looking at locations including Bataan, Batangas, Masbate, Pangasinan, Palawan, and Camarines Norte as potential nuclear sites. “All the companies are interested: Meralco, Aboitiz, San Miguel, Prime Infra. All of them are interested because they know that with nuclear, it’s not a matter of if, but when,” said Garin, adding that since the law does not allow the government to be involved in the power generation, “maybe the
government can have a minimal stake only.” Meralco’s power generation arm, Meralco PowerGen Corp. (MGEN), agrees that nuclear power provides a reliable, low-carbon baseload source that reduces exposure to volatile global fossil fuel prices. “As I said, it’s an option, right? And if you really want energy independence with a baseload profile, then nuclear is one of the clear options,” said MGEN president Emmanuel Rubio in an interview. The Pangilinan-led Meralco is among the major industry players driving this transition. It has engaged a US-based engineering firm, Sargent & Lundy, and AMH Philippines, Inc. to conduct a feasibility study on deploying SMRs in the Philippines. The comprehensive study is expected to be completed by the fourth quarter of 2027. The study marks the next step in the $2.8-million technical assistance program funded by the US Trade and Development Agency (USTDA).
Aboitiz Power Corporation (AboitizPower) and Korea Hydro & Nuclear Power Co., Ltd. (KHNP) also agreed to pursue joint prefeasibility studies, information sharing, and capacity-building activities related to nuclear technologies. For AboitizPower, the agreement provides an opportunity to deepen its understanding of nuclear energy and its potential role in the Philippine power sector. “This MOU marks a meaningful step in AboitizPower’s efforts to understand nuclear energy’s potential contribution to the Philippines’ energy security and reliable baseload capacity,” Aboitiz Power Chief Corporate Services Officer Carlos Ramon Aboitiz said. Meanwhile, ACEN Corp., the power generation arm of conglomerate Ayala Corp., said one of the biggest opportunities in the Philippine power industry lies in distributed energy generation, particularly solar and battery storage hybrid systems—whether deployed in commercial and industrial facilities or in homes. “The technology is already available. The real challenge lies in unlocking its full potential and scaling up its deployment. This requires modernizing regulations, putting the right incentives in place, removing barriers, building local capabilities, and developing a robust ecosystem,” said ACEN president Eric Francia via text message. “Done right, distributed energy can transform how electricity is generated, stored and consumed, making our power system Continued on J2
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VACLAV VOLRAB | DREAMSTIME.COM
Rising to Next-Gen Challenges
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NUCLEAR ENERGY: A pillar of the country’s next-generation power technology Zeinab Harake Parks, Casino Plus Light Up Bacolod for MassKara 2026 Electric Float Parade
FISSION OR FICTION? An aerial view taken on January 19, 2025, shows the Bataan Nuclear Power Plant, which has never generated electricity. The Philippine government is pursuing nuclear energy to provide reliable baseload power and reduce dependence on imported fuel, with plans to explore small modular reactors and the possible rehabilitation of the decades-old facility. The push faces opposition from civil society groups and local leaders who cite safety concerns and argue that the country should prioritize renewable energy. AP/ANTON L. DELGADO, FILE
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OCIAL media personality and Casino Plus brand advocate Zeinab Harake Parks brought star power to Bacolod’s MassKara Festival 2026 on Friday, joining the highly anticipated Electric Float Parade in the city where hundreds of cheering festivalgoers gathered for an evening of spectacle, entertainment, and celebration. Casino Plus, one of the country’s leading responsible digital entertainment platforms licensed by the Philippine Amusement and Gaming Corporation (PAGCOR), served as the official presenter and a major sponsor of this year’s festivities. The gaming platform made a striking impression with its 21-foot emerald-and-gold float, which illuminated the parade route with an elaborate display of lights and festive design. At the center of the showpiece was a jeweled masquerade mask featuring Whimsy, the official Casino Plus mascot. Neon-lit scrollwork and glowing mask motifs accentuated the float’s design, creating a dazzling spectacle against the night sky. Riding on the float’s upper deck, Zeinab greeted cheering spectators and waved to tourists and Bacolodnons at Bacolod City Government Center (BCGC) grounds, joining the city’s vibrant celebration of smiles, culture, and community spirit. Daniella Louisse Merelos, the first-ever Miss Casino Plus Bacolod, also joined the parade along with Zeinab, drawing cheers from the crowd as they waved to festivalgoers. Named among the Top 5 finalists of Miss Bacolod MassKara, Merelos said the title is about more than glamour, calling it a chance to connect with people and take part in meaningful community experiences. “MassKara is more than just a festival. It is an opportunity to bring people together, share stories, and create meaningful connections. I’m excited to experience the diversity, joy, and vibrant spirit that make Bacolod unique,” Merelos said in an earlier interview with Casino Plus. The 25-year-old added that she looks forward to joining more Casino Plus activities throughout the festival, where she can meet people from different backgrounds and cultures.
MassKara Festival’s most anticipated highlight
Hundreds of Bacolodnons and tourists lined up in the Megaworld Upper East area as early as 5 p.m. to witness the electric float parade, as the event is considered one of the most anticipated highlights of MassKara Festival. Among them was Audi Johnson, who set up their foldable chairs for one of the most anticipated highlights in MassKara. Audi said his 3-year-old daughter personally wanted to see the lights. “Last year, ‘dun kami nakapuwesto sa dulo,
“If you really want energy independence with a baseload profile, then nuclear is one of the clear options.”— Emmanuel Rubio, Meralco PowerGen Corp. president
Social media star Zeinab Harake Parks greeted cheering spectators during the float parade.
hindi convenient kasi ‘di kami makapuwesto. Sa side lang ng kalsada. Mas kampante kami dito,” said Audi, who was accompanied by his wife. Asked what float he was most excited to see, he said, “Siyempre ‘yung Casino Plus!” Meanwhile, Marvin Cadapan, a tourist from Makati, said he was starstruck when he saw Zeinab, saying the “Reyna ng Good Vibes” greeted her with a flying kiss when Casino Plus’ float went by. Cadapan said watching the floats in the parade was one of his favorite highlights for MassKara, noting this is his first time attending the festivities. “Sobrang saya kasi na-notice ako ni Zeinab [despite] so many people kanina. Very colorful ang float ng Casino Plus and malawak siya so kitang-kita namin ‘yung float ni Zeinab,” he said.
‘Arat na!’ Zeinab Celebrates with Bacolodnons
The festivities continued at Lacson Street during Casino Plus’ takeover, where Zeinab joined the MassKara celebration and engaged with festivalgoers in an evening of music, entertainment, and
interactive activities. Casino Plus also treated attendees to exciting prizes, including JBL speakers, an iPad, and other giveaways, adding to the festive atmosphere and giving participants more opportunities to take home memorable prizes. Beyond the entertainment, the MassKara Festival remains an important platform for promoting Bacolod’s cultural identity and supporting local livelihoods. The Bacolod Gugma Foundation underscored the festival’s wider economic impact, noting that the influx of visitors generates business for hotels, restaurants, transport providers, local vendors, artists, performers, mask makers, costume designers, production crews, and small businesses. “When visitors come to Bacolod, they support hotels, restaurants, transportation providers, local vendors, artists, performers, mask makers, costume designers, production workers, and small businesses,” Festival Director Rodney Mitz Ascalon said. Ascalon explained that the festival’s message, “Making MassKara Matter,” reflects its commitment to creating a positive impact beyond the celebration itself. “We want the festival to have a positive impact beyond the event venues. We want the smile to reach the communities and the people who work behind the celebration,” he added. Through its participation in MassKara Festival 2026, Casino Plus continues to bring entertainment and community engagement to one of the country’s most celebrated regional festivals, joining Bacolod in honoring the creativity, resilience, and joyful spirit that define the City of Smiles.
“The technology is already available. The real challenge lies in unlocking its full potential and scaling up its deployment.” — Eric Francia, ACEN president
“This MOU marks a meaningful step in AboitizPower’s efforts to understand nuclear energy’s potential contribution to the Philippines’ energy security and reliable baseload capacity.” — Carlos Ramon Aboitiz, AboitizPower chief corporate services officer, on the company’s MOU with Korea Hydro & Nuclear Power Co. to pursue joint prefeasibility studies, information sharing and capacity-building activities related to nuclear technologies. Continued from J1
more affordable, resilient and sustainable,” he added. San Miguel Global Power Holdings Corp. (SMGP) is building a nationwide Battery Energy Storage System (BESS) network with a target capacity of 1,000 megawatthours (MWh), or roughly 1,000 MW of capacity across multiple sites, to stabilize the national grid and integrate renewable energy. This technology can store excess electricity and release it during peak hours or when the power grid requires a supply boost. Regarding nuclear power rates, the DOE is working with the Energy Regulatory Commission (ERC) to develop pricing guidelines. “If it’s commercial... there’s possible cost overruns; it can be higher than P9 per kilowatt-hour. But if everything works, it’s competitive, so it’s going to come in lower than that,” said DOE-Energy Utilization Management Bureau director Patrick Aquino.
‘Nuke not the answer’
CIVIL society groups, church leaders, the Nuclear Free Bataan Movement, and some local government units, however, opposed utilizing
“But if everything works, it’s competitive, so it’s going to come in lower than that.” — Patrick Aquino, DOE-Energy Utilization Management Bureau director, on potential cost of nuclear-generated electricity
“Nuclear will give us stability.” — Sharon Garin, Department of Energy secretary
nuclear energy and the possible revival of the Bataan Nuclear Power Plant (BNPP). They cited risks from earthquakes, volcanic activity, and tsunamis, pointing to lessons from the 2011 Fukushima nuclear disaster. They also argued that funding and policy efforts should prioritize affordable, scalable renewable energy projects rather than subsidize nuclear power development. Gerry Arances, the convenor of the Power for People Coalition (P4P), maintained that nuclear power is not a viable alternative for the country’s energy mix. Instead, he urged the DOE to focus on the country’s massive, underutilized renewable energy potential, which he asserts can already serve as dependable baseload power. In short, they are calling for a halt to plans to rehabilitate and revive the BNPP, and a suspension of expedited nuclear procurement rules. In fact, the municipal council of Morong, Bataan, passed an ordinance last June declaring the municipality a non-nuclear zone, which bans the operation of nuclear facilities and radioactive storage within its boundaries. Conversely, Garin insists that
nuclear energy is the way forward and, more importantly, that refurbishing BNPP is viable based on a nuclear energy feasibility study conducted by South Korea. “Nuclear will give us stability. For example, the most developed countries such as Canada, France, the US, even China, or Russia run on nuclear power. It gives them stability and cheap electricity. It is still one of the cleanest forms of energy, and I think it should be part of our future. Maybe not during my time, but we will lay the foundations during my time,” she said. While some groups argue that the Philippines should focus exclusively on a 100-percent renewable path, the current administration views nuclear and renewables as complementary partners to secure energy independence and achieve decarbonization goals. They may not see eye to eye now on what is the best way forward for plotting the next-gen energy blueprint, but perhaps the more important point is that the foundations be laid down now for such new technology, so that the country is not, yet again, blindsided by the serious impacts of acute energy shortage while struggling to grow its economy.
Rising to Next-Gen Challenges
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ENERGY
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OIL IN ONE:
Thursday, October 29, 2026
A next-gen strategic approach ensures crisis won’t paralyze PHL
PUMP IT UP A gas attendant loads fuel to a car as motorists brace themselves for the push-and-pull of price increases and rollbacks. ROY DOMINGO/BM
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Rising to Next-Gen Challenges
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Aside from efforts to lower domestic pump prices and secure fuel supplies, the DOE aims to reduce the country’s dependence on oil by at least 30 percent by 2030, 50 percent by 2040, and more than 50 percent by 2050.
By Lenie Lectura
ENEWABLES, especially solar and hydro, still get priority in the government’s energy roadmap. However, since the country cannot afford an economic paralysis in the next Middle East crisis—or when this current one worsens—all efforts are being directed toward a next-generation strategic approach to petroleum. Since the war began in late February and upended the Middle East oil balance and supply chain with choked oil routes and vital refineries and energy hubs being attacked, Manila has moved to ensure access to oil, as it is nearly 100 percent reliant on imports. The Philippine government has moved beyond simply building an inventory of its fuel requirements to tapping investors and forging alliances with neighboring countries to enhance petroleum reserve management against potential international supply disruptions. Oil companies must maintain a minimum 15-day supply of petroleum products, while refiners must hold inventories of crude oil and refined petroleum products equivalent to at least 30 days’ worth of supply. Liquefied petroleum gas (LPG) bulk suppliers are mandated to maintain enough stock to cover at least seven days of supply. Recognizing that inventory alone cannot mitigate the effects of the disruptions in the Strait of Hormuz, the Department of Energy (DOE) has moved to improve transparency in petroleum pricing and establish a national petroleum reserve to enhance the government’s response during fuel emergencies.
Lawmakers also reviewed Senate Bill No. 2435, which seeks to establish strategic and operational fuel reserves and provide mechanisms for temporary regulatory intervention during declared fuel emergencies. “There are several agreements, but basically it’s the same purpose: to have our own stock in the country. We have our own national reserve program which is under PNOC (Philippine National Oil Company),” explained DOE chief Sharon Garin. The PNOC is seeking to establish a P30-billion petroleum stockpile. The Strategic Fuel Reserve Program (SFRP) aims to add an extra 30 days of national energy supply security on top of existing commercial inventories, bringing the total buffer to 60 days and eventually 90 days of fuel supply. The possible locations for storage and oil hubs include Bataan, Subic (Zambales), and Mindanao. However, these are still under evaluation. Likewise, the DOE and the PNOC are spearheading talks with non-traditional global suppliers. The two organizations are also actively building alternative import relationships with countries like Russia, Canada, the United States,
Australia, India, and Brunei to ensure a constant multi-route flow of petroleum. “We also have a project with Japan to study if the Philippines will become a regional stockpiling venue or site. So this means all the other countries can store here,” added Garin. The Japan International Cooperation Agency (JICA) will provide expert exchanges, technical training, and data-gathering assistance to help the Philippines design strong emergency fuel response protocols. Also, Japan’s State Minister of Economy, Trade and Industry (METI) is currently evaluating two main oil stockpiling strategies to enhance the energy security of the Philippines: local domestic stockpiling and the establishment of a regional stockpiling system within the Association of Southeast Asian Nations (ASEAN) region. “The third option would be establishing an oil hub in the Philippines, not through international organizations, but through our conversations or dialogues with possible suppliers, oil-producing countries, or companies,” Garin explained. Middle Eastern oil-producing giants Saudi Arabia and the United Arab Emirates have expressed willingness to cooperate and help AZEC (Asia Zero Emission Community) partner countries build and maintain their oil stockpiling capacities. The AZEC alliance is led by Australia, Brunei, Cambodia, Indonesia, Japan, Lao PDR, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Meanwhile, the regional stockpiling initiative is being evaluated under the framework of the ASEAN Petroleum Security Agreement (APSA), drawing on a study conducted by the Economic Research Institute for ASEAN Continued on J4
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and East Asia (ERIA). A critical component currently being finalized under this agreement is the Coordinated Energy Emergency Mechanism (CERM), which details how member nations will coordinate and respond during an energy crisis. “Sa madaling salita po, ito ay paghahanda para kapag may krisis sa supply, may handa tayong plano at imbakan [In short, this is in preparation for a supply crisis, so we have a plan and a reserve facility],” Garin stressed. However, funding for the SFRP has yet to be finalized. Nevertheless, the government is keen on pursuing partnerships with the Maharlika Investment Corporation (MIC), exploring private leases, and securing foreign technical/financial backing from other countries. “The PNOC is already advancing on the stockpiling project, which is to have the first one-million-barrel capacity storage facility in Bataan by the end of 2027. “To achieve that, they need to do a feasibility study; they need to do a lot of surveys, and talk to whoever is in the supply chain. All of that is in preparation, so the project remains on track,” said Garin. MIC is tasked with managing and investing the Maharlika Investment Fund, the Philippines’ first sovereign wealth fund. The energy chief brushed off con-
cerns that the impending change in MIC leadership could affect PNOC’s plans. “Now, if there are other companies that will be involved, the target will not move. Whether Maharlika is already talking to PNOC, whether it pushes through or not, the target remains the same. Or, if PNOC works with other companies or investors, the target is still the same. “Possibly, if we bring in Maharlika or any other investors, that will allow us to expand the project eventually. So that we can start with one million and then eventually we can have a five million target and 15 million barrels capacity. So, it’s on track. We are still in talks with them,” Garin said.
No immediate gains
BUT can motorists, particularly public utility vehicle (PUV) drivers, gain anything from these? Not immediately because some of these commitments await execution. For now, the targeted assistance for the public transport sector continues. About P954 million in fuel subsidies has been distributed to 144,968 public utility vehicle (PUV) beneficiaries, with successful transactions recorded across 3,829 gasoline stations nationwide. Excise taxes on LPG and kerosene have been suspended until December 25 this year, effectively slashing by roughly P37 per 11-kg LPG tank and by P5.65 per liter
“Sa madaling salita po, ito ay paghahanda para kapag may krisis sa supply, may handa tayong plano at imbakan.”—Energy Secretary Sharon Garin, on the need to establish a national petroleum reserve to help the Philippines prepare for potential oil supply disruptions. The proposed Strategic Fuel Reserve Program aims to add 30 days of supply security on top of existing commercial inventories, with PNOC targeting an initial one-million-barrel storage facility in Bataan by end-2027.
for kerosene. However, the prices automatically revert to standard levels under the Tax Code if the one-month average Dubai crude price falls below $80 per barrel for a week, or once the three-month period expires, whichever comes first. The DOE will continue closely monitoring international oil prices, domestic pump prices, and petroleum inventories while coordinating with the Department of Finance and other concerned agencies on measures available under the law to help protect consumers from sustained increases
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WEEKLY pump price swings due to global disruptions and Middle east tensions leave motorists vulnerable as they reckon with fuel prices eating up their budgets for daily expenses. BM/NONOY LACZA
in global fuel prices. Aside from efforts to lower domestic pump prices and secure fuel supplies, the DOE aims to reduce the country’s dependence on oil by at least 30 percent by 2030, 50 percent by 2040, and more than 50 percent by 2050. These targets fall under the fuel transition plan (FTP). “This gives us a coordinated approach to the years ahead. One framework strengthens our ability to manage fuel disruptions under present conditions. The other guides the investments and technologies that will progressively reduce our exposure to those disruptions,” said Garin.
The FTP directly centers on the transport sector, which accounts for roughly 70 percent of domestic oil demand. The government is targeting electric vehicles to account for 25 percent of the national vehicle fleet by 2030, supported by at least 7,000 charging stations nationwide by 2028. To achieve this, the government is ramping up the deployment of electric jeepneys (e-jeepneys) and electric city buses. Other plans include higher biodiesel blending and expanded ethanol use, while developing Sustainable Aviation Fuel (SAF) and alternative marine fuels from agricultural waste. The DOE is also introducing a
weekly National Fuel Risk Index to track developments in supply, prices, and demand. The defined risk thresholds will guide government action, allowing the appropriate measures to be introduced as conditions change. “These two frameworks address different time horizons of our energy security strategy, and are designed to work together,” Garin said. “Both give us a coordinated approach to the years ahead. Together, they provide a clearer direction for government, industry, and investors as the Philippines advances toward greater energy independence,” she added.
Asia’s Modern Heroes Awards 2026 A BusinessMirror Special Feature
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Thursday, October 29, 2026
Asia’s Modern Hero Awards 2026: Celebrating Leaders Who Make Meaningful Impacts More than an awards ceremony, the event served as a gathering of people and institutions united by a common belief: that meaningful work deserves to be recognized, and that leadership becomes more significant when it creates an impact beyond oneself.
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HE Asia’s Modern Hero Awards 2026 gracefully concluded at Okada Manila last month, bringing together distinguished leaders, public servants, diplomats, business executives, educators, media professionals, and organizations whose work continues to create meaningful impact across society. The awards ceremony was conceived around a simple yet powerful idea: heroism is not always found in the loudest voices or the most visible achievements. Sometimes, it is found in the people who continue to serve, build, lead, and create opportunities even when no one is watching. In a time when success is often measured by visibility, influence, and recognition, the Asia’s Modern Hero Awards sought to shine a light on individuals and organizations whose contributions extend beyond personal achievement—those whose work strengthens communities, supports families, advances institutions, creates opportunities, and contributes to national and regional development. The evening recognized a distinguished roster of awardees whose respective fields reflect the many forms that modern leadership and service can take. Among the distinguished recipients were His Excellency Mounir Y.K. Anastas, Ambassador of the State of Palestine to the Philippines, recognized as Asia’s Hero of Principled Diplomacy;
Beyond accolades. The prestigious awards shines a light on leaders who make a difference in communities and the nation. Photo courtesy of Asia’s Modern Hero Awards.
H.E. Ambassador Karel Hejč, Ambassador of the Czech Republic to the Philippines, honored as Asia’s Modern Hero of Distinguished Diplomatic Leadership; and His Excellency Dato' Abdul Malik Melvin Castelino, Ambassador of Malaysia to the Republic of the Philippines, recognized as Asia’s Modern Hero in Diplomatic Statesmanship and International Cooperation. The awards also recognized leaders in
Philippine public service, including Secretary Conrado M. Estrella III of the Department of Agrarian Reform as Asia’s Modern Hero: Champion of Agrarian Reform and Social Justice; Secretary Dante Francis “Klink” Ang of the Commission on Filipinos Overseas as Asia’s Modern Hero in Advancing Philippine Diaspora Relations; and Hon. George Erwin Mojica Garcia, Chairperson of the Commission on Elections, as Asia’s Modern
Hero for Excellence in Electoral Administration. Also honored were Arnulfo “Wick” Veloso, President and General Manager of the Government Service Insurance System, as Asia’s Hero of Impact in Public Service and Financial Leadership; Hon. Marilene C. Acosta, President and CEO of Pag-IBIG Fund, as Asia’s Modern Hero in Progressive Housing Finance Solutions; Atty. Angelo A. Jimenez, President of the University
of the Philippines, as Asia’s Hero of Impact in Education, Innovation, and National Development; and Dr. Manuel M. Muhi, President of the Polytechnic University of the Philippines, as Asia’s Hero of Impact in Educational Leadership and Community Empowerment. The second batch of honorees further reflected the breadth of modern leadership and excellence. Hon. Elpidio “Third” Barzaga III, Mayor of the City of Dasmariñas, was recognized as Asia’s Modern Hero for Advancing Youth Leadership in Public Governance, while Hon. Luis “Jon-Jon” Alandy Ferrer IV, Mayor of the City of General Trias, Cavite, received recognition as Asia’s Hero of Excellence in Local Governance and Public Service. In the private sector and creative industries, Alvin M. Carranza, CEO of Digital Out of Home PH, was recognized as Asia’s Hero of Excellence in Visual Branding. Solar Resources Inc. received the Asia’s Modern Hero Award for Excellence in Property Development and Investment, while SACP Carlo De Luna Monzon, former Prosecution Attorney of the Philippine Department of Justice, was honored for Outstanding Contribution to Justice and Public Service. The event also celebrated excellence in media, communications, aviation, and real estate. Joel Reyes Zobel, news anchor and radio commentator of Super Radyo DZBB, GMA Network Inc., was recognized as Asia’s Modern Hero of Impact in Broadcast Media. Carmina Reyes-
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Romero, Director for Corporate Communications of Cebu Pacific Air, received the Asia’s Modern Hero in Aviation Corporate Communications recognition, while Carson Choa, COO of Wee Community Developers, Inc., was honored with the Asia’s Modern Hero Award for Seller-Centered Real Estate Leadership. More than an awards ceremony, the event served as a gathering of people and institutions united by a common belief: that meaningful work deserves to be recognized, and that leadership becomes more significant when it creates an impact beyond oneself. The ceremony was also graced by the presence of the Golden Icons Foundation, whose participation further amplified the heart and mission behind the gathering. The Foundation continues to provide a platform that recognizes individuals and organizations whose contributions, leadership, and service create lasting value for communities and society. Together, the Asia’s Modern Hero Awards and the Golden Icons Foundation emphasized that recognition is not simply about celebrating titles or accomplishments. It is about telling the stories behind the work, honoring the people who carry responsibility, and inspiring others to use their influence and opportunities to make a difference. As the evening came to a close at Okada Manila, the message of the Asia’s Modern Hero Awards remained clear: Heroes do not always wear capes. Sometimes, they lead institutions, serve communities, build businesses, educate generations, strengthen diplomacy, tell stories, create opportunities, and quietly continue doing meaningful work when no one is watching. The Asia’s Modern Hero Awards 2026 concluded not simply with applause for its honorees, but with a renewed celebration of service, leadership, excellence, and impact—reminding everyone present that the greatest measure of success is not always how loudly one is recognized, but how meaningfully one contributes to the lives of others.
A BusinessMirror Special Feature
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Thursday, October 29, 2026
Hubexo Asia Awards
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Beyond Landmarks, Building Legacies: Hubexo Asia Awards 2026 honors PHL’s top 10 architects and top 10 developers Keynote speaker Congressman Brian Poe Llamanzares calls for integrity, transparency, and inclusive development as Hubexo celebrates 21 years of recognizing excellence in the Philippine built environment.
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S the Philippines confronts the growing demands of urbanisation, climate resilience, infrastructure modernization, and sustainable economic development, one question becomes increasingly important: Are we simply building more, or are we building better? This defining challenge took center stage at the Hubexo Asia Awards Philippines 2026, held on October 21 at The Fifth at Rockwell, Makati City, where the country’s Top 10 Architects and Top 10 Developers were recognized for their contributions to architectural excellence, property development, and the advancement of the Philippine built environment. Now in its 21st year, the prestigious awards program continues its longstanding tradition of recognising outstanding architectural firms and property developers whose work contributes to the transformation of Philippine cities, communities, and infrastructure. The evening brought together leading architects, property developers, construction industry executives, government representatives, professional associations, and industry partners in a celebration of excellence, collaboration, and shared responsibility. More than an awards ceremony, the gathering reinforced a broader industry commitment: to create a built environment that is not only innovative and economically competitive, but also resilient, inclusive, transparent, and designed to serve future generations.
Sally Kheng, Head of Strategic Partnerships and Events, Asia, Hubexo, hands over a trophy of recognition to guest speaker Rep. Brian Poe Llamanzares.
Top 10 Architects honored at the Hubexo Asia Awards 2026.
Hubexo reaffirms its commitment to industry excellence and collaboration
The evening formally opened with remarks from Ms. Sally Kheng, Head of Strategic Partnerships & Events, Asia, Hubexo, whose presence underscored the organization’s continued commitment to recognising excellence and strengthening professional connections across the region. Her opening remarks welcomed the distinguished awardees, government representatives, association leaders, and industry partners gathered for the celebration. The occasion also highlighted the role of Hubexo Asia Awards as a platform that brings together key stakeholders in architecture, property development, engineering, and construction. As the built environment continues to evolve, industry collaboration remains essential in addressing emerging challenges, encouraging innovation, and creating opportunities for sustainable growth. Through its regional awards programme, Hubexo continues to provide a platform for recognising outstanding achievements while fostering relationships among the organisations and professionals contributing to Asia’s construction and property sectors. Congressman Brian Poe Llamanzares: Building With Integrity, Developing With Purpose A key highlight of the evening was the address delivered by Hon. Brian Poe Llamanzares, Member of the House of Representatives and Assistant Majority Floor Leader, who challenged the industry to reconsider how progress and infrastructure success are measured. Speaking before leading architects, developers, and construction industry stakeholders, Congressman Poe Llamanzares emphasized that infrastructure development must be evaluated not merely through physical expansion, but through long-term performance, public accountability, and its ability to improve people’s lives. “True development requires an unwavering commitment to integrity.” He underscored that integrity in the built environment extends beyond ethical principles to encompass engineering precision, structural reliability, climate preparedness, and accountability throughout the development process. Addressing the importance of transparency, he discussed the proposed Right to Information Act and the value of making infrastructure plans, environmental assessments, procurement specifications, and project timelines accessible to public and professional scrutiny. He further emphasized that infrastructure must be designed to serve all members of society, including persons with disabilities, senior citizens, pedestrians, and communities exposed to environmental risks. His message reinforced the importance of integrating universal accessibility, climate resilience, and responsible urban planning into the
Congressman Brian Poe Llamanzares delivers his keynote speech at the Hubexo Asia Awards 2026.
foundations of national development. In one of the address’s most compelling reflections, Congressman Poe Llamanzares reminded industry professionals of the lasting influence of their work: “Politicians write laws, but you write the physical reality in which millions of Filipinos live their daily lives.” His remarks highlighted the shared responsibility of government and the private sector in ensuring that Philippine infrastructure and property development contribute to safe, functional, sustainable, and inclusive communities. The message resonated with the purpose of the Hubexo Asia Awards: recognising the professionals and organizations whose decisions, innovations, and developments help shape the country’s physical and economic future.
Recognizing The Philippines’ Top 10 Architects Of 2026
The Hubexo Asia Awards 2026—Top 10 Architects recognizes architectural firms for their contributions to the Philippine design and construction industry. The 2026 awardees, in alphabetical order, are: 1. Arch Haus Asia Consultants Inc. 2. ASYA Design 3. Casas + Architects, Inc. 4. Edward Co Tan + Architects (ECT+A) 5. GFP Architects 6. JOG+ Associates 7. JSLA Architects 8. LPPA Design Group 9. Visionary Architecture, Inc. 10. WTA Architecture and Design Studio These firms represent the diversity of Philippine architectural practice, contributing to the design of residential, commercial, institutional, and mixed-use environments. Their recognition reflects the important role of architecture in addressing the evolving needs of Filipino communities while advancing design quality, functionality, innovation, and sustainability. As the country experiences increasingly complex urban and environmental challenges,
Top 10 Developer awardees at the Hubexo Asia Awards 2026.
architects are called upon to move beyond aesthetics and create spaces that respond to human needs, environmental realities, and longterm social value.
Honoring The Philippines’ Top 10 Developers Of 2026
The Hubexo Asia Awards 2026—Top 10 Developers recognises property development companies contributing to the country’s real estate landscape and the continuing evolution of Philippine communities. The 2026 awardees, in alphabetical order, are: 1. Aboitiz Economic Estates 2. Arthaland Corporation 3. Ayala Land Inc. 4. Cathay Land, Inc. 5. Cebu Landmasters, Inc. 6. DMCI Project Developers 7. Federal Land 8. Megaworld Corporation 9. PH1 World Developers 10. SM Prime Holdings From residential communities and integrated townships to commercial destinations and economic estates, these developers contribute to the continued growth and transformation of the Philippine property sector. Their recognition also underscores the evolving expectations placed on property developers as the industry responds to sustainability requirements, changing consumer needs, infrastructure connectivity, and the demand for more resilient and inclusive urban environments. Beyond the scale of investments and developments, the future of Philippine real estate will increasingly depend on the long-term value these projects deliver to communities, businesses, and future generations.
Strengthening Industry Partnerships And Collective Progress
The success of the Hubexo Asia Awards Philippines 2026 was made possible through the continued support and collaboration of leading
professional associations, construction industry organisations, corporate partners, and media institutions. Their participation reflects a shared commitment to strengthening the Philippine built environment through professional excellence, industry engagement, innovation, and collaboration.
Association Partners
The awards were supported by the following industry and professional organizations: •Invictus, Federation of Construction Suppliers of the Philippines •Federation of Filipino-Chinese Chambers of Commerce and Industry •United Architects of the Philippines (UAP) and representative chapters •Philippine Institute of Architects (PIA) •Institute of Integrated Electrical Engineers of the Philippines (IIEE) These partnerships reinforce the importance of bringing together diverse professional disciplines and industry stakeholders to advance the standards and future of Philippine construction, architecture, engineering, and property development.
Awards Partner
• Phildev Synthetic Industries, Inc. As the official Awards Partner, Phildev Synthetic Industries, Inc. supported the recognition of the country’s leading architectural firms and property developers.
Event Partners
•Pacific Paint (Boysen) Philippines, Inc. •DATEM •Suurface Inc. The participation of these companies reflects the value of industry partnerships in promoting innovation, professional engagement, and excellence within the built environment.
Supporting Sponsors
•Euros Builder Materials Inc. •Cebu Oversea Hardware Co., Inc.
•Richmake Enterprises Their support contributed to the successful staging of the 21st Hubexo Asia Awards Philippines. Media Partners • BusinessWorld •BusinessMirror •The Manila Times •Philstar Media Group Through their participation, the awards program extends its reach beyond the event itself, bringing greater visibility to the achievements of the country’s architectural and property development sectors. Together, these partnerships demonstrate that the advancement of the built environment is a collective undertaking—one that requires cooperation among industry leaders, professional institutions, government, and the private sector.
Beyond Recognition: A Shared Responsibility To Build Better
The Hubexo Asia Awards Philippines 2026 reflects a broader evolution in the meaning of excellence within the built environment. As Philippine cities expand and development reaches emerging growth centres, the industry faces an increasingly interconnected set of challenges. Climate change demands more resilient infrastructure. Urbanization requires betterintegrated communities. Technological advancement presents opportunities for smarter design and construction. Meanwhile, public expectations continue to reinforce the importance of transparency, accessibility, safety, and responsible development. These challenges call for stronger collaboration among architects, engineers, developers, contractors, government institutions, and industry organizations. The awards serve as a reminder that excellence is not defined solely by architectural distinction, project scale, or commercial achievement. True industry leadership is demonstrated
through the ability to create developments that remain relevant, resilient, and beneficial long after their completion. This perspective was echoed in Congressman Poe-Llamanzares’ address, which concluded with a call for higher standards in public infrastructure, governance, and the built environment: “Let every policy we draft, every budget we allocate, every blueprint we approve, and every cubic meter of concrete we pour reflect a standard of uncompromising quality.” His message captured a central responsibility of the industry: to ensure that progress is measured not only by what is constructed, but by the lasting value delivered to society.
Twenty-One Years Of Celebrating Excellence In Asia’s Built Environment
For more than two decades, the Hubexo Asia Awards, formerly known as the BCI Asia Awards, has recognized outstanding architectural firms and property developers across key Asian markets. The program continues to celebrate achievements in architecture and property development while strengthening connections among the professionals and organizations shaping the region’s built environment. In the Philippines, the awards remain an important platform for recognizing industry contributions, fostering professional relationships, and highlighting the role of design and development in national progress. As the country moves toward a future defined by greater infrastructure connectivity, sustainable urbanization, and technological innovation, the awards reaffirm the importance of excellence grounded in responsibility and long-term impact. Because the most meaningful legacy of architecture and development is not measured simply by the structures that rise, but by the communities they strengthen, the opportunities they create, and the future they make possible. The Hubexo Asia Awards Philippines 2026 celebrates those who continue to transform that vision into reality.
A BusinessMirror Special Feature
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Thursday, October 29, 2026
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Redefining the Horizon: How ARTHALAND is Pioneering a New Era of Sustainable Living in the Philippines
Artist’s Perspective of Sevina Park
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N an era where climate action has moved from a boardroom topic to a global imperative, the real estate landscape in the Philippines is undergoing a quiet, green revolution. Leading the charge is ARTHALAND, the country’s foremost green property developer, which continues to prove that environmental responsibility, and profitability can seamlessly coexist. As the only real estate developer in the Philippines with a residential and commercial portfolio that is 100% certified as sustainable by both local and global organizations, ARTHALAND has long set the gold standard. Recently, this uncompromising commitment to architectural excellence was thrust into the regional spotlight when ARTHALAND was named one of the Top 10 Developers at the prestigious Hubexo Asia Awards 2026. The accolade, celebrated at The Fifth at Rockwell in Makati City, highlights a philosophy that goes beyond brick and mortar. "At ARTHALAND, sustainability guides how we plan and develop our properties," shares Lani Kanapi, Vice President for Strategic Procurement. "We are proud that 100% of our developments are certified sustainable and that we were the first real estate developer in Asia to commit to net zero carbon buildings by 2030."
The Blueprint of Wellness: Una Apartments
Nowhere is ARTHALAND’s eco-centric vision more tangibly expressed than in Una Apartments, a multi-tower residential development rising within the serene enclave of Sevina Park in Biñan, Laguna. Sevina Park holds the distinction of being the first and only masterplanned community in Southeast Asia to achieve Double Platinum certifications—
specifically, LEED (Leadership in Energy and Environmental Design) for Neighborhood Development and LEED for Homes. It is within this ultra-sustainable ecosystem that Una Apartments targets the mid-market segment, offering an elevated lifestyle that is quite literally one step above. Masterfully designed by the legendary architectural firm Leandro V. Locsin Partners, the project consists of three towers featuring thoughtfully crafted studio and one-bedroom units equipped with balconies and select furnishings. But what makes Una Apartments a true standout is the purpose behind its design. Its sustainable features are engineered with intent: to improve indoor air quality for the long-term health of its residents and to aggressively slash utility bills by up to 20%.
Actual Photograph of Una Apartments Tower 1 as of October 2026
Milestone Progress: Keeping Promises on Schedule
For future residents and eager investors, ARTHALAND’s commitments extend well beyond blueprints into flawless, onschedule execution: Una Apartments Tower 1: The finish line is officially in sight. With internal finishing works inside the units and common areas progressing steadily, unit turnovers are officially scheduled to begin in November 2026. Adding to this momentum, Tower 1 was formally awarded its LEED Precertification in October 2026.
Actual Photograph of the One-Bedroom Model Unit of Una Apartments
Milestone Progress: Keeping Promises on Schedule
From left to right: Kelvin Hou, President of Phildev Synthetic Properties, Pamela Go, Head of Marketing Group at ARTHALAND; Leilani Kanapi, Vice President for Strategic Procurement at ARTHALAND; Karen Soriano, Associate Vice President for Project Development at ARTHALAND; and Sally Kheng, Head of Strategic Partnerships and Events Asia at Hubexo.
For future residents and eager investors, ARTHALAND’s commitments extend well beyond blueprints into flawless, onschedule execution. The finish line is in sight for Una Apartments Tower 1, with interior finishing in units and common areas progressing steadily. Unit turnovers are on track to begin in November 2026, building on the momentum of the tower formally receiving its LEED Precertification in October 2026. Keeping pace with its sister tower, Una Apartments Tower 2 is advancing smoothly toward its December 2027 completion deadline. Its physical structure continues to take shape in the Laguna skyline, with interior works already underway and the sleek glass-and-aluminum façade currently being installed.
A Ecosystem of Collaborative Excellence
ARTHALAND's triumph at the Hubexo Asia Awards 2026 also shines a light on the developer’s ecosystem of top-tier partners. Two of ARTHALAND's primary design collaborators were also hailed among the Top 10 Architects at the same event, demonstrating the collective strength behind these green properties. Casas + Architects, Inc. is the Architect of Record for Sondris, a premium, multi-certified green residential building being developed in partnership with Japan's Mitsui Fudosan (Asia) along Arnaiz Avenue in Makati's vibrant Legazpi Village. Concurrently, Visionary Architecture, Inc. is the creative mind behind Liv, a forwardthinking residential development in Katipunan, Quezon City designed to intuitively adapt to the evolving
demands of modern urban lives.
Building Legacies for Tomorrow
By successfully balancing financial profitability with a profound duty to the planet, ARTHALAND is actively reshaping the expectations of Filipino homeowners. Projects like Una Apartments prove that green living is no longer a niche luxury or a distant dream—it is an accessible, practical reality available today. As Tower 1 prepares to welcome its first residents this November, ARTHALAND isn't just handing over keys; they are delivering on a promise to protect the environment and build sustainable legacies for generations to come. Visit the Arthaland Gallery at Sevina Park, Biñan, Laguna. To learn more about ARTHALAND, call +63 917 772 7842, email ask@arthaland. com, or visit arthaland.com.
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Perpetual Help Medical Center – Las Piñas chairman named CEO of the Year Grand Winner
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r./BGen. Antonio Laperal Tamayo, Chairman of the Board and Chief Executive Officer of the DALTA Group of Companies, was named Grand Winner for CEO of the Year at the Asia CEO Awards 2026, held on October 13, 2026, at the Manila Marriott Hotel. His son, LTC Richard Antonio M. Tamayo, President of Perpetual Help Medical Center, received the award on his behalf. The distinction celebrates a leadership journey that has expanded opportunities in education, advanced healthcare, strengthened enterprise, and uplifted communities. From the founding of Perpetual Help College of Rizal in 1975, Dr. Tamayo helped build the University of Perpetual Help System DALTA into a threecampus institution serving more than 32,000 students in Las Piñas, Molino, and Calamba. Its milestones include an overall fourstar QS Stars rating, internationally recognized engineering programs, and pioneering research through Perpetual Satellite-1 and Project DAGAT. These achievements reflect his continuing commitment to developing Filipino talent and supporting innovation with practical benefits for society.
Lt. Col. Richard Tamayo, PAFR, President of Perpetual Help Medical Center (PHMC) representing Dr./ Brig. General Antonio Tamayo received the elegant trophy of CEO of the Year during the 17th Asia CEO Awards 2026. In healthcare, Perpetual Help Medical Center–Las Piñas has grown into a 285bed Level 3 teaching hospital, investing in advanced diagnostic technologies, specialized care, and services that respond to evolving patient needs. Last September, Dr. Tamayo was awarded the Hospital CEO of the Year Excellence Award at the Hospital Management Asia Awards 2026. Beyond institutional growth, his legacy reaches communities through the
DALTA-JONELTA Foundation, education for persons deprived of liberty at New Bilibid Prison, and free basic education for indigenous Mangyan learners in Occidental Mindoro. Across the DALTA Group’s diverse enterprises, Dr. Tamayo’s enduring vision remains grounded in service—building institutions that create opportunities, transforming lives, and contributing to nation building.
TWO CATEGORIES. Under the leadership of Country Leader Guy Neveu, NQX Philippines, a global leader in customer experience solutions, was recognized at the 2026 Asia CEO Awards as a Circle of Excellence honoree in two prestigious categories: Service Excellence Company of the Year and Wellness Company of the Year. This dual recognition places NQX at the forefront of customer experience excellence, reflecting its ability to deliver the best results for customers while creating a healthy workplace for the people delivering them. This demonstrates that business performance and employee well-being are not competing priorities, but interconnected drivers of long-term growth, innovation, and business success. Representing NQX Philippines on behalf of Country Leader Guy Neveu were (from left) Vice President of Marketing and Communications Karen Llana; Global Vice President of Human Resources Wilfred “Jun” Abo; and Vice President of Human Resources Josefina Cruz.
TP is Sustainability Company of the Year
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ELEPERFORMANCE Philippines was named Sustainability Company of the Year at the 17th Asia CEO Awards in 2026, recognizing its commitment to environmental sustainability, inclusive employment, and community development as it celebrates 30 years of operations in the country. The company reported that renewable energy accounted for 63% of its energy consumption in 2025, while its carbon emissions intensity decreased by 77 percent since 2019. Through its corporate social responsibility program, Citizen of the World, TP supported more than 10,300 Filipinos
in 2025, while its career development initiatives provided training and employment opportunities for students, underserved youth, persons with disabilities, and other marginalized groups. TP also received recognition for innovation, service excellence, and the leadership of CEO Rahul Jolly, while maintaining its ninth consecutive Great Place to Work certification. These achievements highlight TP’s efforts to combine business growth with employee well-being, environmental responsibility, and meaningful community impact.
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