Philippine central bank is expected to maintain policy rates in its next meeting following the “tightest rate differential” seen between the United States Federal Reserve and the Bangko Sentral ng Pilipinas interest rate.
PROTECTIONIST measures and higher US tariffs caused the slowdown in the Philippine manufacturing output in August, according to S&P Global Market Intelligence.
The country’s Purchasing Manager’s Index (PMI) score slowed to 50.8 in August from the 50.9 recorded in July this year.
“The latest PMI data for the Philippines manufacturing sector once again indicated a subdued performance, with growth rates for output and new orders remaining below their historical averages,” Maryam Baluch, Economist at S&P Global Market Intelligence, said.
“Additionally, job creation came
to a halt in August, ending a period of two consecutive months of marginal increases in employment,” she also said.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the uncertainties created by higher US tariffs and the tariff wars gave rise to a “wait and see attitude” when it comes to exports.
Ricafort said uncertainties caused the slowdown in demand for exports to the United States and global trade as well as job creation.
He also noted that Trump’s higher import tariffs/reciprocal tariffs slowed global GDP growth as well as local growth in respec-
tive economies. The Philippines also saw its growth slow down to 5.4 percent in the second quarter of the year. This placed the country’s GDP growth at 5.5 percent in the first semester of the year.
“Trump’s higher tariffs, trade wars, and other protectionist measures...led to some wait-and-see attitude for some exports locally and in the global supply chains in terms of their production, capacity, a gauge of manufacturing capacity utilization among prepandemic highs in recent months,” Ricafort said.
The report of S&P Global Market Intelligence described manufacturing sector employment in
the Philippines as stable. Nonetheless, the report noted that employment remained “stagnant” given the rise in production requirements. This has increased work backlogs, the fastest in a sixmonth period.
Further, S&P Global Market Intelligence stated that manufacturers used their post-production inventories to meet new orders, leading to a decline in finished goods.
“Reductions have now been noted in three of the last four survey periods, with some firms reporting that they released stock onto the market to mitigate potential damage at warehouses from heavy
By Reine Juvierre S. Alberto
T@reine_alberto
HE general tax amnesty pronounced by the Department of Finance (DOF) may cover tax liabilities between 2007 and 2024.
During the Cabinet-level Development Budget Coordination Committee’s briefing for the Senate Committee on Finance on Monday, Revenue Operations Group Undersecretary Charlito R. Mendoza said the GTA might cover the year 2024 and prior years.
“We’re still studying it. Actually, it’s still very, very broad. We
have a working draft for further study,” Mendoza told reporters when asked for further details.
“But definitely, we will submit a draft, a proposed General Tax Amnesty Bill. That’s definite,” Mendoza added. Mendoza also confirmed that all internal revenue taxes, such as estate, income, withholding, among others, including excise taxes and value-added taxes collected by the Bureau of Customs, will be included.
Although granting a tax amnesty would result in lower revenues collected by the government,
By Reine Juvierre S. Alberto @reine_alberto
THE country’s budget deficit as a share of the overall economy is seen to narrow to 3.1 percent by 2030, according to the country’s economic manager. Budget Secretary and Development Budget Coordination Committee (DBCC) cochair Amenah F. Pangandaman said the budget deficit will be brought down to 3.1 percent of the gross domestic product (GDP) by 2030, citing the government’s fiscal framework.
This comes after Senator Panfilo M. Lacson Sr. inquired about whether the government would
ever record a balanced budget since it always operates under a budget deficit during the Development Budget Coordination Committee’s briefing to the Senate Committee on Finance on Monday.
As the government runs on a deficit, it would have to resort to borrowing in order to fund its programs and projects, Lacson said.
Latest data from the Bureau of the Treasury (BTr) showed the budget deficit from January to July this year reached P784.4 billion, higher by 22.04 percent from P642.8 billion in the same period last year. (See: https://businessmirror.com.ph/2025/08/29/report-government-budget-gap-
widens-by-22-in-7-months/).
This year,
BMI, a Fitch Solutions Company, said in its latest note that the differential between the Federal Reserve and BSP’s rates declined to 50
points after the central bank reduced policy rates by 25 basis points last month.
MAKING CENTS (From right) Bangko Sentral ng Pilipinas Governor Eli Remolona Jr., Office of the Special Assistant to the President for Investment and Economic Affairs (Osapiea) Secretary Frederick
rainfall,” the report stated.
Meanwhile, Baluch said the overall sentiment of manufacturers remained optimistic and strengthened compared to July 2025.
She noted that benign inflation may support the manufacturing sector by keeping them competitive in terms of pricing their products. This will help boost their sales in the coming months.
Earlier, Trade Undersecretary
Allan B. Gepty, the country’s chief trade negotiator, said exports of electronic data machines, pineapple juice, coconut oil, apparel, travel goods and handbags, are seen to be among the most affected by the 19-percent reciprocal tariff slapped by Washington on Philippine goods.
At a recent hearing of the Senate Committee on Economic Affairs jointly with Foreign Relations and Ways and Means, Gepty was pressed by senators on which products may be the hardest hit by Washington’s unilaterally-imposed 19-percent reciprocal tariff on Philippine goods.
DTI vows ‘major cleanup’ of contractors’ review body
By Andrea E. San Juan @andreasanjuan
THEDepartment of Trade and Industry (DTI) said it will do a “major cleanup” of the Philippine Contractors Accreditation Board (PCAB), one of its attached agencies, following reported “irregularities” in the licensing and accreditation of contractors.
PCAB plays a “critical” role in regulating or accrediting contractors in the Philippines, ensuring that construction projects meet both legal and quality standards.
“The DTI emphasizes that this inquiry forms part of its broader mandate to protect stakeholders and/or consumers in the construction industry and to uphold the highest standard of governance in public service,” the parent agency of PCAB underscored.
tation in exchange for money,”
PCAB said.
PCAB said it is aware of the challenges presented by the existence of certain individuals and entities, particularly on social media, misrepresenting themselves as PCAB personnel or offering “shortcuts” for a fee.
By maintaining policy rates in its next meeting, BMI said policy rates will be kept at 5 percent in October but will be reduced further by 25 basis points in the last meeting of the year in December. “By holding steady, BSP could regain some policy space, as our Americas team expects the US Federal Reserve to cut interest rates in September,” BMI said. However, BMI said, its long-term forecast for BSP policy rates is a 50-basis-point reduction in 2026. This will bring down the interest rate to 4.25 percent by the end of 2026. This supports BMI’s outlook that inflation will average 2.5 percent next year, well within the BSP’s 2 to 4 percent target range.
He said coconut oil is also seen to be hit, “that’s why we are asking them to exempt this because they don’t produce coconut.” Gepty added aircraft parts, ignition wiring sets, other products, travel goods and handbags. “These are the main items we have identified,” Gepty told the Senate hearing. (See: https://businessmirror.com.ph/2025/09/01/ chief-trade-negotiator-lists-tariffs-top-victims).
“For the PCAB, we’ll do a cleanup,” Trade and Industry Secretary Cristina A. Roque told reporters on the sidelines of the Turismo Asenso Loan Awarding Ceremony on Monday.
To support this effort, the Trade chief said the agency has formed a Fact-finding Team to oversee the investigation process, “in accordance [with] due process and applicable law, coordinate with relevant agencies, and recommend systemic reforms to prevent future lapses.”
The DTI said it will “thoroughly review the conduct of PCAB’s current board members and officials, and rec-
Cai U. Ordinario
ommend actions, including their potential removal, to the President.”
This, Roque said, is about ensuring accountability and transparency.
“The DTI will pursue this investigation thoroughly, fairly, and without fear or favor,” the Trade chief underscored, adding that those found to have engaged in wrongdoing or who compromised the public interest will be held accountable.
“We will not hesitate to recommend to the President the removal of anyone found to have compromised the public interest or engaged in wrongdoing,” said Roque.
The DTI chief made this pronouncement after PCAB noted with concern the reports and discussions regarding alleged “irregularities” in the licensing and accreditation of contractors.
In a statement last week, PCAB said: “We wish to assure the public and our stakeholders that the integrity of the PCAB licensing system remains our foremost priority.”
“PCAB licenses are not for sale. The Board has not authorized any individual, group, or third-party consultant to act on its behalf or to guarantee contractor accredi-
“PCAB has been proactive in addressing this issue—conducting investigations, reporting fake social media accounts, and coordinating with the proper authorities to protect the public and the industry,” it noted. It encouraged contractors and the public to “remain vigilant” and to deal only through PCAB’s official channels (website/portal).
“Any suspicious offers or misrepresentation should be reported to the Board so that appropriate action may be taken,” it also noted.
PCAB said it will cooperate with any investigation and provide records available for verification in the interest of full transparency and public trust.
BMI said further rate cuts will also help support economic growth, which is expected to average 5.2 percent next year. This is below the 6 to 7 percent target set by the Development Budget Coordination Committee (DBCC).
“This suggests a greater need for the central bank to cut rates to further stimulate the economy. And it will have the policy space to ease further, as our Americas team forecasts that the Fed will lower the Fed fund rates by a cumulative 50 bps in 2026,” BMI said. Meanwhile, BMI said risks to their outlook are skewed to further monetary easing. Higher tariffs imposed by the United States could have global implications.
BMI said these implications include the weakening of consumer and investment sentiment, which has the ability to slow down global growth.
“These abuses are underreported and often invisible,” UN Human Rights Council President Jürg Lauber said. “We must act collectively to ensure justice, dignity, and safety for those who make the sea their workplace.”
Geopolitical tensions have further compounded the risks. From the war in Ukraine to missile and drone attacks in the Red Sea, shipping lanes have become battlegrounds, putting seafarers directly in harm’s way and disrupting their rights, livelihoods, and access to legal protections.
Manila Declaration IN response to these urgent challenges, the Philippines introduced the draft Manila Declaration on Seafarers’ Human Rights, Safety, and Well-Being—a comprehensive framework aimed at embedding human rights into the core of maritime governance.
Endorsed by international bodies including the IMO, ILO, and UN Human Rights Council, the draft declaration calls for: Fu ll enforcement of the Mar -
itime Labour Convention (MLC) Emergency preparedness for health crises, disasters, and conflict Human rights due diligence across all maritime operations • Gender equality, diversity, and harassment-free ships Upskilling for digitalization, automation, and decarbonization Fair recruitment and safe, dignified working conditions Foreign Affairs Secretary Ma. Theresa Lazaro described the draft Manila declaration as “a human rights imperative,” while Executive Secretary Lucas Bersamin urged delegates to endorse it as a collective commitment to build a safer, fairer, and more humane maritime industry.
The conference continues this week with thematic sessions on labor enforcement, mental health, gender equity, and crisis response. Delegates are expected to finalize the Manila Declaration and outline next steps for global implementation.
“If such a scenario materializes with inflation expectations remaining largely anchored, the BSP would prioritize the economy and implement larger policy rate cuts,” BMI said. Last week, the BSP Monetary Board announced that it has reduced the Target Reverse Repurchase (RRP) Rate by 25 basis points to 5 percent. The interest rates on the overnight deposit and lending facilities were adjusted to 4.5 percent and 5.5 percent, respectively.
This may have ushered policy rates into the “Goldilocks” zone with its latest action, but the Monetary Board is still open to at least one more rate cut this year.
BSP Governor and MB Chairman Eli M. Remolona Jr. said in a press briefing that the 5-percent interest rate is the “Goldilocks” rate, as it is “neither too high nor too low.” Nonetheless, Remolona said, a policy rate cut could still be in order in the coming meetings, depending on how the economy performs, particularly in terms of domestic demand. It can be noted that domestic demand accounts for 70 percent of the country’s growth. The Monetary Board still has two more meetings this year—in October and December. Remolona had said two rate cuts may be implemented in the second half of 2025. (See: https://businessmirror.com. ph/2025/08/29/bsp-brings-keyrates-to-goldilocks-zone/).
Mendoza said the purpose of the reprieve is to encourage the taxpayers’ voluntary compliance.
“Instead of chasing [them] through enforcement, they will do it voluntarily,” Mendoza added.
Recently, Finance Secretary Ralph G. Recto formally an-
nounced that the DOF will be pursuing a general tax amnesty. Recto said the tax amnesty is not going to be the same as the bill passed by Congress then, which was vetoed by former President Rodrigo R. Duterte.
The National Tax Research Center (NTRC) explained that the veto owed to the lack of provisions institutionalizing the automatic exchange of information, breaking down the walls of bank secrecy for tax fraud cases, and
significant revenue losses. The general tax amnesty was supposed to cover all national internal revenue taxes, such as income, withholding, capital gains, donor’s, valueadded, percentage, excise and documentary stamp taxes. Earlier this year, Revenue Operations Group Director Euvimil Niña R. Asuncion said the DOF will renew its push for a general tax amnesty. The GTA bill is expected to be introduced to Congress this year, according to Asuncion.
within the 2 to 4 percent target. Inflation in 2026 is expected to average 3.3 percent while the increase in prices will be faster at 3.4 percent in 2027.
“The effect of the policy rate takes a few months before it’s felt. And so with this lag, we decide on monetary policy depending on what inflation looks like six months ahead, one year ahead, or two years ahead,” Remolona said.
Earlier, the BSP may have ushered policy rates into the “Goldilocks” zone with its latest action, but the Monetary Board is still open to at least one more rate cut this year. The BSP Monetary Board announced that it has reduced the Target Reverse Repurchase (RRP) Rate by 25 basis points to 5 percent. The interest rates on the overnight deposit and lending facilities were adjusted to 4.5 percent and 5.5 percent, respectively. Remolona said in a press briefing that the 5-percent interest rate is the “Goldilocks” rate as it is “neither too high nor too low.” Nonetheless, Remolona said, a policy rate cut could still be in order in the coming meetings, depending on how the economy performs, particularly in terms of domestic demand. It can be noted that domestic demand accounts for 70 percent of the country’s growth. The Monetary Board still has two more meetings this year—in October and December. Remolona had said two rates cuts may be implemented in the second half of 2025. (See: https://businessmirror.com. ph/2025/08/29/bsp-brings-keyrates-to-goldilocks-zone/).
Dizon to all DPWH officials: Submit courtesy resignations
NEWLY appointed Public Works and Highways Secretary Vivencio Dizon on Monday said he will order the courtesy resignation of all DPWH officials, following President Marcos’ directive to purge the department amid alleged irregularities in multibillion-peso flood control projects.
Dizon said the move, which he announced hours after he took his oath as Department of Public Works and Highways chief, marks the start of a “clean sweep” to restore public trust, ensure transparency, and guarantee that every peso spent in infrastructure truly serves the Filipino people.
“Ang unang-una ko pong order na ilalabas ay ang pag -order ng courtesy resignations top to bottom: undersecretary, assistant secretary, division head, regional director, hanggang district engineer ng buong bansa [My first order is for the courtesy resignations of all officials, top to bottom: undersecretary, assistant secretary, division head, regional director, up to district engineer for the entire country),” Dizon said in a Palace press briefing.
“Iyan po ang unang-unang direktiba ng ating Pangulo. Nag-usap po kami nang matagal kaninang umaga at ang sabi niya ‘linisin’ ang DPWH at ito po ang simula [That was the very first directive of the President. We talked for a long time this morning and he said to ‘clean up’ the DPWH and this is the beginning).”
The new DPWH chief said he would implement the massive shakeup within 30 to 60 days.
Dizon succeeded Manuel Bonoan, who stepped down under the principle of “command responsibility” after anomalies in flood control projects surfaced.
Marcos on Monday administered the oath of office to Dizon as the new secretary of the DPWH, directing him to root out corruption and end “ghost projects” in the agency.
“His mission is to clean up corruption, end ghost projects and ensure every peso spent truly protects and serves our people,” Marcos said in a social media post.
“Bagong Pilipinas means infrastructure that is safe, future-ready and built with integrity. That is what our people deserve, and that is what we will deliver.”
Dizon replaced Manuel Bonoan, who resigned effective September
1 to take responsibility over alleged anomalies in multibillionpeso flood control projects under his watch.
Marcos earlier said Bonoan stepped down under the principle of “command responsibility,” while an independent commission will be created through an executive order to probe the irregularities.
Dizon, who previously served as Presidential Adviser on Flagship Programs and Projects and more recently as Transportation Secretary, played a key role in implementing infrastructure under the Duterte administration’s Build, Build, Build program.
He was also a prominent figure in the government’s Covid-19 pandemic response.
Marcos expressed confidence that Dizon’s management skills and track record in large-scale infrastructure development will help restore integrity and efficiency in DPWH operations.
Undersecretary Giovanni Lopez will replace Dizon as Transportation Secretary. He also took his oath at the Palace as acting Secretary.
Support THE Federation of Philippine Industry (FPI) expressed support for Dizon’s appointment and is looking forward “in pushing for higher standards, transparent procurement, and resilient public infrastructure.”
It said Dizon’s stint at the DOTr “was marked by accelerated infrastructure delivery, modernization of commuter systems through cashless integration, and swift enforcement of safety reforms— demonstrating a results-driven leadership style that prioritizes action over rhetoric.”
“This is precisely the kind of governance needed to restore integrity and accountability in DPWH, especially in light of recent anomalies in flood control projects,” it said.
“We look forward to working with Secretary Dizon in advancing higher technical standards, transparent procurement systems, and a public infrastructure program that is resilient, inclusive, and built on trust. The way forward must include independent monitoring, digital traceability, and full public disclosure of project specifications and supplier compliance—so that every structure built reflects not just progress, but integrity.” Samuel P. Medenilla withPNA
Bonoan’s resignation won’t shield him from House probe
THE resignation of Public Works Secretary Manuel Bonoan will not shield him from a full-blown probe into alleged corruption, ghost projects, and substandard infrastructure that have cost the government billions, as three committees in the House of Representatives begin joint hearings on Tuesday.
Party-list Rep. Terry Ridon of Bicol Saro, co-chairman of the House Committee on Infrastructure, confirmed that Bonoan will still be invited to attend the panel’s hearing. He also announced that an invitation would be extended to newly appointed Public Works and Highways Secretary Vivencio Dizon.
Through House Resolution 145, the Committees on Public Accounts, Public Works and Highways, and Good Government and Public Accountability will open a joint inquiry into the DPWH and its contractors over billions of pesos worth of flood control projects, many of which have been flagged as non-existent, defective, or highly overpriced.
Comelec asks Congress: Revise party-list system
By Jovee Marie Dela Cruz @joveemarie & Justine Xyrah Garcia
THE Commission on Elections (Comelec) called on Congress on Monday to undertake a comprehensive revision of the Party-list System Act (Republic Act 7941), saying the law has remained unchanged for more than two decades despite issues of political dynasties and contractors dominating seats meant for marginalized sectors.
During a House of Representatives Committee on Appropriations briefing on Comelec’s proposed 2026 budget, Party-list Rep. Chel Diokno of Akbayan raised concerns that the party-list system, originally intended to give representation to marginalized groups, is now being used by contractors and political clans.
Comelec Chairman George Garcia agreed, stressing that the law requires not just amendments but a complete overhaul.
“Republic Act 7941 has not been touched for more than 20 years. Not even a word, a paragraph, or a sentence has been changed. It requires revision,” Garcia told lawmakers.
He noted that in the absence of legislative clarity, the Supreme Court has repeatedly stepped in with rulings that reshaped the interpretation of the law.
Among these, he said the Court ruled that nominees need not be poor to represent marginalized groups, as long as they have a proven advocacy. It also held that even men can represent women’s groups.
“It requires legislation. It should not only be an amendment but a full revision of Republic Act 7941. In several instances, our Supreme Court has been compelled— let us admit—to engage in judicial legislation. Meaning to say, certain provisions are not in the law, but the Court has been forced to interpret them. For example, Madam Chairperson, in its first interpretation, the Supreme Court said that one must not be a resident of Forbes Park or Dasmariñas Village
to qualify as a nominee. However, later on, in the subsequent case of Banat v the Commission on Elections, the Supreme Court clarified that one does not need to be wallowing in poverty to be considered [poor],” he added.
Garcia suggested that Congress should clearly define which sectors are entitled to representation, similar to the original implementation of the 1987 Constitution and the system now being used in the Bangsamoro Parliament.
“If we can define, for example, 10 sectors and allocate how many seats per sector, then all accredited party-list groups would compete within their own categories,” Garcia explained.
He added that adopting such a framework would prevent the misuse of the system and restore its intent of giving genuine representation to marginalized groups.
Earlier, Senate Minority Leader Vicente Sotto III filed Senate Bill 192, seeking to amend Republic Act 7941, otherwise known as the Party-List System Act, to realign the system with its original intent under the 1987 Constitution.
“Through the years, the interpretation of the law on party-list has expanded its qualification and has deviated from the intent of the framers of the 1987 Constitution, which is to truly represent the marginalized and the underrepresented,” Sotto stressed.
The measure outlined additional grounds for the cancellation of registration of party-list groups, including failure to represent the marginalized and underrepresented sectors, instances where members or nominees do not belong to these sectors, direct or indirect participation in acts detrimental to the best interest of the government, ceasing to be a marginalized sector, and material misrepresentation of nominees.
Senate bill
THE Comelec on Monday expressed support for the newly filed Senate bill seeking to revamp the decades-old Republic Act 7941 or the Party-List System Act.
Garcia said the poll body is ready to provide its recommendations to further improve the measure.
“It is timely and long-awaited to have this kind of clarification and reform. We strongly support this proposed law,” Garcia said.
On Sunday, Senate Minority Leader Vicente Sotto III announced that he had filed a bill to amend RA 7941 and realign it with its “original intent under the 1987 Constitution.”
Senate Bill 192 lays down additional grounds for canceling the registration of party-list groups.
These include failure to represent marginalized and underrepresented sectors, situations where members or nominees do not belong to these sectors, direct or indirect involvement in acts detrimental to the government’s best interest, ceasing to be a marginalized sector, and material misrepresentation of nominees.
“Amid the many issues hounding government officials, it is high time to revisit the true purpose of the party-list system, whether these groups are genuinely representing the marginalized, or merely hiding behind the guise of doing so for personal or political gain,” Sotto said.
Independent election watchdog Kontra Daya, likewise, expressed support for the bill.
Kontra Daya co-convener Danilo Arao said SB 192 would help ensure that party-lists truly represent the marginalized and remain free from “hijacking and bastardization of the rich and powerful.”
“We encourage Sotto and other legislators to refer not just to our past statements but also to our past data sets on the party-list groups that participated in the previous election cycles. Our research provides empirical proof of how the rich and powerful have reduced the party-list system to mere additional seats that are theirs for the taking,” Arao said.
He added that Kontra Daya is open to providing input and responding to queries from legislators.
‘Work with govt to enhance peace gains’
THE Presidential Peace Advisor on Monday called on the people to be one with the government in order to preserve and build further on the gains of the peace process.
common vision. Everyone has an important role to play in this collective effort. No one should be left behind,” Galvez said.
Senators press flood control contractor on luxury cars
SENATORS on Monday intensified their scrutiny of flood control contractor Sarah Discaya’s ownership of luxury vehicles, pressing her to explain how she acquired at least 28 high-end cars while cornering hundreds of government flood control contracts. At the Senate blue-ribbon committee hearing on anomalous flood control projects, Senate President Pro Tempore Jinggoy Estrada grilled Discaya on her car fleet, which includes a Rolls Royce Cullinan worth about P42 million, a Maybach valued at P22 million, a Bentley pegged at P20 million, Escalades, GMC units, and several Range Rovers. Estrada expressed disbelief that one family could accumulate such wealth.
“Ngayon lang ako nakarinig na isang tao o mag-asawa na ganito kadami ang kotse na mamahalin [This is the first time I’ve heard of a couple owning this many expensive cars],” he said.
Discaya admitted to owning 28 cars, clarifying that the figure included service vehicles under her companies.
“Kasi kasama pa iyong mga service cars ng mga employees ko that is owned by the company [The count includes service cars of my employees that are in the company’s name],” she said. She added that some of the cars were bought through installment plans, not cash.
Senate Deputy Minority Leader Anna Theresia “Risa” Hontiveros also questioned Discaya on the conflicting numbers she had given in past interviews, where she mentioned owning as many as 40 cars.
“So ilan po ang mga sasakyan sa inyo at inyong pamilya [So how many vehicles do you and your family own]?” Hontiveros asked, to which Discaya replied: “28.”
Minority Leader Vicente Sotto III revealed that Frebel Enterprises, identified by Discaya as one of her car dealers, was flagged by the Bureau of Customs (BOC) for smuggling high-end vehicles, including Bugattis and Mercedes-Benz units.
For his part, Batangas Rep. Leandro Leviste has urged the DPWH to cooperate fully with an investigation into questionable infrastructure projects, warning against any attempts to cover up substandard work. Leviste said he has tapped engineers and consultants, with assistance from local government engineers, to conduct a technical audit of DPWH projects worth billions of pesos in Batangas.
In Balayan, Batangas, along the Binambang River, about P1 billion worth of flood control projects were found to have sheet piles only 3.9 to 5.5 meters deep, far short of the required 15 meters. The DPWH has since ordered replacements at the contractor’s expense but has yet to explain why undersized piles were used in the first place.
Similarly, in Lemery’s Pansipit River, another P1 billion in flood control projects had sheet piles of only 6.1 to 9.1 meters instead of 12 meters. Following
“The House Infrastructure Committee will nonetheless continue with its initial hearing on Tuesday, focusing on the President’s site inspections of ghost and substandard projects in Bulacan and undercapitalized companies cornering billions of pesos in flood control contracts,” Ridon said.
Secretary Carlito Galvez Jr., chief of the Office of the Presidential Advisor on Peace, Reconciliation and Unity (OPAPRU) Galvez made this call as the country started the observation of National Peace Consciousness Month on September 1.
“Building on and sustaining the gains of the comprehensive Philippine peace process is not the work of the government alone. It is a shared responsibility that requires all sectors of society to work hand-in-hand to realize our
He said that this year’s Peace Month theme, “Mapayapang Bukas, Abot-Kamay sa Bagong Pilipinas,” is a recognition of the peace milestones achieved by the government and a celebration of a future that is filled with peace, unity, and respect.
“Our chosen theme is a clarion call for all of us to join hands to realize our shared goal: a just and lasting peace for our nation,” Galvez noted.
He also added that since the declaration of September as Peace Month 21 years ago by virtue of
Presidential Proclamation 675, the month of September has become an opportunity for all Filipinos – regardless of tribe, religion, or personal beliefs – to come together under the banner of unity and foster the culture of peace across the archipelago.
“As we begin our Peace Month celebration, I call on all our fellow Filipinos to reflect on what peace means to us individually and what we can do to promote peace, mutual understanding, and solidarity. Everyone is invited to join the activities our agency will be staging in partnership with our stakeholders during this monthlong celebration,” he added. Rex Anthony Naval
“Iyong sinabi niya, na bilihan niya, iyong Frebel Enterprises, ito iyong mga na -charge ng BOC ng smuggled Bugatti Chiron. Puro smuggled ang mga sasakyan nito [She said she bought from Frebel Enterprises. This is the one charged by the Bureau of Customs for smuggling Bugatti Chiron. All of its vehicles are smuggled],” Sotto said. Estrada then pressed Discaya on whether she owned a Bugatti. “May Bugatti ka?” he asked, to which she quickly responded, “Wala po [None].”
The inquiry, chaired by Sen. Rodante Marcoleta, is investigating alleged ghost and substandard flood-control projects under the Department of Public Works and Highways.
Lawmakers said the extravagant lifestyles of some contractors highlight the need to determine if billions in public funds have been diverted through anomalous schemes. PNA
Natl Police to China: What worsening crime situation?
THE National Police (PNP) on Monday refuted China’s claim that public security in the Philippines is “worsening,” noting the drop in crime rate in the first eight months of the year.
“Our crime situation in the Philippines is not worsening because based on our data, there is a 16.5 percent decrease [in crime rate],” the PNP public information chief, Brig. Gen. Randulf Tuaño, said in a press briefing. Tuaño said there were 22,519 focus crime
incidents recorded from January 1 to Augusst 28, 2025, lower than the 26,969 recorded during the same period last year.
Focus crimes include murder, homicide, rape, physical injury, theft of
Nartatez Jr., has ordered the Directorate for Intelligence to coordinate with the Chinese Embassy to get the basis of its advisory.
“We will follow proper channels and procedures. We will get the exact details because the instruction of the Chief, PNP is not to make a guess of what they feel and instead, coordinate with them to know their sentiments,” Tuaño said.
He said according to PNP data, there were 21 cases of kidnapping recorded from January to August wherein both the victims and the perpetrators were Chinese nationals. PNA
DOST pushes integrated water management in flood planning
By Bless Aubrey Ogerio
NOT all floods can be solved the same way, and that is why the Department of Science and Technology (DOST) is pushing integrated water resource management as a framework to guide flood control programs.
Science Secretary Renato Solidum Jr. said the approach relies on science-based assessments to design interventions tailored to specific river and sub-river basins. It involves mapping waterways and studying how construction projects in flood-prone areas alter water flow.
“DOST can provide the science and technology to make sure that these things are mapped well and the data are used in planning,” Solidum told reporters during the Regional Science, Technology and Innovation Week in General Santos City last week. The agency, he said, can supply digital elevation models and forecasting tools to measure the capacity of rivers and drainage systems, which are increasingly
strained by climate change and rapid urbanization.
“It is not simple. All these should use science as basis for planning,” he said.
The DOST chief also recommended embedding flood control initiatives into Geographic Information System (GIS) maps so planners can easily see how proposed projects fit into their environment.
The Philippines has applied principles of integrated water resource management since the early 2000s, using them in water supply, irrigation, flood control and pollution management.
National strategies such as the Philippine Water Supply and Sanitation Master Plan (2019–2030) and the National Water Security Roadmap also adopt these frameworks for long-term governance.
Data from the National Water Resources Board show that 21 River Basin Master Plans have been
Contractors on polls donations list now 31
By Justine Xyrah Garcia
THE number of construction companies that contributed to candidates during the 2022 campaign period has climbed to 31, the Commission on Elections (Comelec) confirmed on Monday.
Comelec Chairman George Erwin M. Garcia told the House Committee on Appropriations that the figure was based on the continuing investigation of the poll body’s Political Finance and Affairs Department (Pfad).
“As of last Saturday, we have identified 31 possible contractors that made donations to national candidates. Our review is still ongoing,” Garcia said during the budget deliberations.
Garcia declined to identify the companies, noting that the list still has to be verified with the Department of Public Works
and Highways (DPWH) to determine if they held government contracts when the donations were made.
He clarified that the current probe only covers firms with public works contracts. Service contractors and those who may have donated in the 2025 campaign period are not yet included.
“The review of the Statements of Contributions and Expenditures [Soce] will take several months. We only have 38 staff, and they are still casual employees since the [Pfad] is not a regular department of the Comelec,” Garcia explained.
Under Section 95(c) of the Omnibus Election Code, individuals or corporations holding government contracts or subcontracts to supply services or public works are prohibited from making direct or indirect contributions to partisan
political activity. Violators may face imprisonment of one to six years.
Garcia admitted, however, that some business owners could argue they gave campaign donations in their personal capacity.
“I will admit, for me, it is already a violation...If I look at it personally, I see probable cause because he is a natural person, the prohibition still applies regardless if he is friends with the candidate or whatever,” Garcia said.
“But of course, when the court looks at it, they may interpret it differently...That is why it might help if Congress reviews Section 95 to make the provision clearer....It should be specific so that no one escapes liability,” he added.
The Comelec said it will submit the initial list of contractors who donated in the 2022 polls to the Committee on Appropriations.
Group sees better times for Panaon Island
AN international marine conservation group on Monday welcomed the signing of the Panaon Island Protected Seascape (PIPS) Law by President Marcos, as it would boost marine conservation, food and livelihood security, and climate resilience.
Oceana said the law will bring national focus to this island, identified as part of the 50 priority reefs in the world, highly likely to withstand the devastating impacts of climate change.
“The PIPS Law was forged by years of scientific research, persistent advocacy, local organizing, and community participation. This policy milestone defends marine biodiversity, enhances food security, and fights poverty. In essence, this law is a declaration that the protection of our oceans is an invest -
ment in our future and collective survival. Empowering communities to manage their seas sustainably should be part of the nation’s blueprint against poverty and hunger,” said Oceana Vice President Von Hernandez in a statement Monday.
Marcos signed on August 29 the PIPS Law, a measure that officially establishes the island, a 61,204-hectare marine sanctuary covering the towns of Liloan, San Francisco, Pintuyan, and San Ricardo in Southern Leyte.
The island is not only home to endangered species, such as whale sharks and the Philippine duck, but also serves as a crucial breeding and nursery ground for fish that sustain the local communities’ food and livelihood security, according to Oceana. Citing its far-reaching impact, Hernandez
said the law’s passage is also a strategic investment in climate resilience. Panaon Island’s coral reefs were found to have 60 percent of excellent coral cover, three times above the national average of around 20 percent.
“With Panaon Island’s protection strengthened, the Philippines takes a significant step toward meeting global biodiversity targets and building a resilient, inclusive blue economy that benefits both people and the planet,” Hernandez added.
The new law mandates the creation of a comprehensive management plan, engaging local stakeholders, scientists, and government agencies to ensure that conservation efforts yield tangible benefits for both people and nature.
“We will be more biased towards environmental protection because we want not only the benefits but also to sustain our advocacy to make our province progressive. For me, tourism and environmental protection should go hand in hand. It should already be accepted that the environment should be taken care of. We should not debate on that,” said Southern Leyte Rep. Roger Mercado in a statement.
Coral reefs, mangroves, and seagrasses in Panaon serve as natural buffers, protecting coastlines from storm surges and flooding while storing significant amounts of blue carbon.
These ecosystems sequester carbon at rates far higher than terrestrial forests, playing a crucial role in mitigating climate change and supporting national commitments to the global blue carbon agenda, according to Oceana. PNA
completed and 20 River Basin Organizations created to localize basin-wide planning, although gaps remain in coordination among agencies and local governments.
Moreover, the government is also advancing proposals to establish a Department of Water Resources (DWR) as a central body to consolidate the functions of existing water-related agencies.
Flood control projects, one hand, recently face public scrutiny. President Ferdinand Marcos Jr. earlier disclosed that 15 contractors cornered over P100 billion worth of such projects in the first three years of his administration, amid reports of “ghost” and substandard works.
At the same time, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) warned that La Niña has a higher-than-average chance of developing in the coming months, increasing the likelihood of heavier-than-usual rains.
Bonoan. . .
Continued from A3
Leviste’s audit, the contractor removed the substandard piles from the site. The local government also reported that it was never informed of the project, which lacked a building permit. The DPWH has now recommended terminating the contract and withholding further payments.
Leviste also cited the collapse of a recently widened segment of the Diokno Highway in Calaca during Typhoon Crising. While the DPWH initially claimed additional funding was needed since the damage was due to the storm, the agency has since required the contractor to shoulder the repair costs.
Despite these findings, Leviste said his office and the affected LGUs have yet to receive key documents requested from the DPWH.
DPWH ‘syndicate’
PARTY-LIST Rep. Elijah San Fernando of Kamanggagawa welcomed Bonoan’s resignation but said it was not enough, stressing the need to unmask a “syndicate” of officials, contractors, and lawmakers allegedly profiting from anomalous projects.
“Resignation is not enough. It is time to begin a wide and deep investigation. Heads must roll—not only of the contractors but also their political protectors,” San Fernando said, calling for lifestyle checks, bank audits, asset freezes, and hold departure orders against all current and former DPWH officials.
He added that the people’s anger will not be appeased until those behind large-scale plunder are jailed.
Lawmakers, meanwhile, said the appointment of Dizon as the new secretary of the DPWH could help restore accountability in the agency amid widespread allegations of corruption in flood control projects.
House Deputy Minority Leader Leila de Lima, however, reminded that Bonoan’s resignation does not absolve him from accountability. “If other DPWH officials involved still have shame and conscience, they should also resign and face the consequences,” de Lima, the nominee of the party-list group Mamamayang Liberal, said.
Las Piñas Rep. Mark Anthony Santos expressed full support for Dizon, calling him “energetic and dynamic” and emphasized the need for efficient, transparent, and peoplecentered infrastructure development.
Deputy Minority Leader Perci Cendaña added that while Dizon’s appointment is welcome, systemic corruption requires systemic reform. “This is just a necessary first step in the long road ahead to accountability and fighting corruption. Malayo pa tayo,” the nominee of the party-list group Akbayan warned.
President Marcos accepted Bonoan’s resignation on Saturday and designated Dizon as his replacement.
Jovee Marie N. dela Cruz
How young people can fight corruption
By Henry J. Schumacher
AS we marked International Youth Day a few weeks ago, let us celebrate the amazing young people around the world who are standing up to corruption and demanding better from those with power.
Corruption can hold back young people from achieving their potential. It drains funds from classrooms and health clinics, blocks opportunities and erodes trust. Research by Transparency Internation has found that young people are often more exposed to corruption than adults.
In the high-stakes education sector, for example, corruption can include bribery and favoritism in admissions, collusive cheating in examinations, bid rigging and diversion of school supplies, as well as sexual corruption by teachers.
It’s inspiring to see how many young people are taking action to challenge the injustices they see, by tracking public budgets, reviewing public data, speaking up and demanding transparent policies and improved public services. Let’s celebrate youth-led, local solutions from around the world that are turning integrity into daily practice and delivering real change.
A recent youth-led forum in Jordan connected youth and decision-makers, paving the way for future collaboration and impact.
In Jordan, young people have just taken part in a Youth Integrity Forum organized by Rasheed (Transparency International Jordan), the final step in a rich educational journey that started with Integrity Schools and an Integrity Academy. Throughout the program, young people have been developing their skills and confidence to be able to push for integrity and accountability from public authorities, plus practical tools to boost participation, citizenship and leadership.
During the forum, young participants met government officials and experts and worked on practical recommendations to strengthen institutional transparency, boost digital accountability and foster an inclusive political system. Discussions ranged from peace, justice and strong institutions to media independence and the governance of political parties.
In Indonesia, young people have been collaborating with Transparency International Indonesia, who are committed to ensuring that young people have a voice in governance decisions that affect them. Together, they have identified priority programs for oversight, built local capacity and influenced regional development plans. An exciting milestone was the Youth Integrity Bootcamp, which trained 28 young leaders from seven provinces in procurement oversight, corruption risks mapping and budget management. Graduates are now monitoring important national programmes, from the free nutritious meal initiative to major infrastructure. In addition, 100 young people are now involved in planning and monitoring services, making local governance more transparent and accountable.
Young people everywhere want a fairer future and are willing to play their part in ending corruption. They’re not just preparing to lead—they already are. I am convinced that when we invest in young
people, communities grow stronger and we all win.
Let’s look at eight ways young people can fight corruption:
1. Follow the money GOVERNMENTS have vast sums of public money to spend and this can pose a serious corruption link. By keeping tabs on government expenditure, you can help shed light on how taxes are spent and expose any abuses.
2. Count supplies SCHOOLS receive lots of supplies from government, like textbooks, laboratory equipment or other necessities. It’s not rocket science to compare what has been bought and what has been delivered.
3. Develop tech solutions IF you are tech-savvy, you can help communities document cases of corruption by developing platforms. Social media, in particular, is an effective way to address corruption at real time.
4. Draw comics and cartoons COMICS are a powerful way of raising awareness about anti-corruption. Through a combination of images and text, comics can also spark debate.
5. Raise awareness through with sports WHAT’S your favorite sport? From running against corruption to scoring a goal for transparency, you can raise your community’s anti-corruption awareness through any sport you want.
6. Join youth groups YOUTH groups share their disapproval of corruption and are found at local and national levels.
7. Pay ‘zero’ bribes THE ‘zero currency’ note is a visual aid that encourages people to say ‘no’ to corrupt officials who demand a bribe.
8. Protest PROTEST events are a way for citizens and groups to come together in public to show large scale support for or opposition to a particular issue.
In conclusion, we definitely need the support of the youth in fighting for democracy and against corruption. I was delighted to the Global Youth Summit 2025 attracted 33,600 youth changemakers from schools, organizations, and communities—both on-ground and online—at the SM Mall of Asia Arena on August 3. Those are the next-generation leaders! I look forward to your comments; contact me at hjschumacher59@gmail.com.
Fuel prices on the rise again
OIL COMPANIES announced on Monday a price increase of P0.70 per liter for all gasoline products, P1 per liter for diesel, and P0.70 per liter for kerosene. This is the third consecutive oil price hike for gasoline and the second for diesel and kerosene.
In separate announcements, Petron, Shell, Caltex, Seaoil, PTT, Unioil, Total, Phoenix, and Jetti said they will implement the oil price increase at 6:00 a.m. of Tuesday, September 2. Cleanfuel, meanwhile, will increase prices at 4:01 p.m.
Other oil companie are expected to follow suit.
Every week, oil companies adjust their pump prices
to reflect movements in the world oil market. This week’s price adjustment was brought about by upward increases in refined fuel products, freight and market premiums, according to Jetti. The Department of Energy (DOE) said last Friday that this week’s oil price movement would reflect the US tariffs on India and decline in US oil inventories.
Last week, gasoline prices went up by P0.70 per liter, diesel by P0.50 per liter, and kerosene by P0.30 per liter. This brought the year-to-date total net increase of gasoline at P12.10 per liter and P12.45 per liter for diesel. Kerosene stands with total net increase of P2.05 per liter. Lenie Lectura
Sen. Bam wants flood-control fund deleted from 2026 budget as Blue Ribbon grills COA, DPWH, contractors
By Butch Fernandez @butchfBM
THE entire P270-billion allocation for flood control projects in the 2026 national budget face scuttling if the government fails to properly identify and allocate it to flood-prone areas, Senator Bam Aquino warned Monday.
“If that is not corrected. Kung hindi iyon ayusin base sa talagang pinaka-flood prone areas. My inclination is to just delete the whole [flood control] budget,” Aquino said during the briefing by the Development Budget Coordination Committee (DBCC) on the 2026 National Expenditure Program (NEP).
As Aquino was attending the DBCC briefing for members of the Senate Finance Committee, top contractors recently listed by President Ferdinand Marcos were being raked over the coals by the Blue Ribbon Committee, which started its hearing an hour earlier.
The Blue Ribbon members—among them Minority Leader Vicente Sotto III, Risa Hontiveros, Alan Peter Cayetano, Ronald dela Rosa—also grilled officials of the Department of Public works and Highways, Commission on Audit, MMDA and Philippine Contractors Accreditation Board, which had been recently implicated in questionable practices exposed by Sen. Panfilo Lacson.
The Blue Ribbon sought to get BIR Commissioner Romy Lumauig to present backgrounds of the tax records of the top contractors, amid widespread anger over failed and ghost flood-control projects, but Lumauig said he can divulge this in an executive session.
Lumauig earlier said the BIR was reviewing their tax records, and one recourse he cited was for BIR to withhold issuance of tax clearances for those that did not pay the correct taxes. Such clearances are a basic requirement for them to join biddings for government projects.
Owner of 9 firms
MEANWHILE , Senate President Pro Tempore Jinggoy Estrada got one of the top contractors, Sara Discaya, to admit that she owned nine construction firms that have been bidding for state projects. She said yes when Estrada asked if these firms sometimes bid for the same projects,
prompting the senator to say it was an admission that some biddings were a sham.
Discaya and her husband Curlee’s companies had been the focus of attention recently after Pasig Mayor Vico Sotto denounced media coverage of the couple’s wealth, including video of their stable of 40 luxury cars. Discaya said Monday there are now only 28 cars left.
Challenge to DPWH
AT the Finance panel briefing, Aquino said the challenge of coming up with a credible and needs-based flood control budget will fall on the shoulders of newly appointed Department of Public Works and Highways (DPWH) Secretary Vince Dizon, who replaced the resigned Manuel Bonoan
“The challenge I posed to him [Bonoan] and now will be the challenge of Secretary Dizon is to come back to the Senate before the end of the budget and to come up with a real flood control budget. Hindi iyong naka-divide based on districts, but naka-allocate based on true needs and true flooding problems,” added Aquino, who also serves as vice chairperson of the Committee of Finance.
After the DPWH presents a clear flood control plan, Aquino said he expects a significant surplus in the budget, which can then be redirected to other critical areas such as education and healthcare.
“We know, we have our classroom problems, we have internet connectivity problems in our schools. Marami tayong problema sa eskuwelahan natin. Definitely, the education budget needs to be supported further,” he said.
Aquino also underscored the need to strengthen funding for the Universal Healthcare Law, principally sponsored by Sen. JV Ejercito, to ensure its proper and full implementation.
The lawmaker earlier urged the government to tap Filipino scientists in crafting science-based flood control measures and redirect significant funding toward climate resiliency projects that can save lives and protect communities.
He underscored the importance of investing in an integrated and scientific solution to address the causes of flooding, from infrastructure to the effects of climate change, instead of wasting billions of pesos on ineffective flood control projects.
Cost concerns shift DA’s cold storage plans away from Angat
THE Department of Agriculture (DA) is more partial to other locations for the Cold Examination Facility for Agriculture (Cefa) than Angat, Bulacan due to cost issues.
Agriculture Secretary Francisco Tiu Laurel Jr. said the facility in Angat is better suited for rendering and destruction of goods, since it’s far from ports.
“To bring [goods] to Angat and back, the minimum cost is P3 to P5 per kilo, plus all the delays, the traffic it causes,” Laurel told reporters on the sidelines of a Senate hearing of the Committee on Agriculture, Food, and Agrarian Reform on Monday.
“It can also open the way for kalokohan like the goods being hijacked. So many things can happen along the way,” he added.
The DA chief noted that instead of Angat, Bulacan, the Cefa should be established inside the ports, particularly in the Port of Manila, Port of Subic, Port of General Santos, and Port of Davao so potentially smuggled farm items would be seized before leaving the facility.
Laurel said if not inside the ports, the Cefas could be constructed near the posts, so it would be easier to track.
He explained that the border inspection facilities in these ports would mainly check potentially smuggled goods based on their risk.
“It should only be risk-based [...] if we’ve already flagged the country or the shipment is questionable, then only then [we should check it]. Not all the shipments. If we check all of it, the costs will all increase, which isn’t right,” Laurel said.
The DA chief noted that the agency doesn’t have the budget to bankroll the Cefas, but it could seek funding from their 2026 General Appropriations Act (GAA).
“I think I would need maybe P1.5 to P1.8 [billion in total] because it’s not going to be at the scale they initially thought,” Laurel said. Meanwhile, the DA urged lawmakers to provide the agency with enforcement powers independent of the Anti-Agricultural Economic Sabotage Council.
“Our ears are on the ground. Stakeholders are helping us in terms of information, but we should act immediately [...] If we go through the current process, a lot [of smugglers] would get away with it,” he said.
Currently, Laurel said the DA has blacklisted 35 companies so far.
Ada Pelonia
Business groups banking on Dizon’s appointment as new DPWH chief to signal fresh chapter for agency
By Andrea San Juan @andreasanjuan
THE business community said the installation of Vince Dizon as the new chief of the Department of Public Works and Highways (DPWH) signals a “fresh chapter” for the agency which has been tainted by anomalies in flood control projects.
In separate statements issued on Monday, the Philippine Chamber of Commerce and Industry (PCCI) and Federation of Philippine Industries (FPI) expressed support for the appointment of former Transportation Secretary Vince Dizon as the new head of the DPWH.
Both business groups lauded Dizon’s “strong capacity” for driving large-scale infrastructure projects during his brief stint as the chief of the Department of Transportation (DOTr).
For PCCI’s part, the country’s largest business group, it is banking on Dizon’s leadership to start a new chapter at DPWH, one that’s
“anchored on accountability, efficiency, and continuity of infrastructure development.”
“We welcome the appointment of erstwhile Transportation Secretary and former head of the Bases Conversion Development Authority [BCDA] Vince Dizon to this vital position Sec. Dizon has a solid track record,” PCCI said in a statement on Monday.
As President and CEO of the BCDA and as the “implementing lead” for the “Build, Build, Build” program, PCCI said Dizon demonstrated a strong capacity for driving large-scale, complex infrastructure projects from conception to completion.
“In his brief stint as DOTr Secretary, he showed his capability to deliver excellent service and restore public confidence,” said PCCI. Further, the top business group in the country underscored it is optimistic he will “bring the same energy at the DPWH, as well as his strong inclination toward transparency and public-private partnership [PPP] that marked his leadership at the BCDA.”
Through the lens of FPI, a group of local producers and manufacturers, it noted that Dizon’s tenure at DOTr “was marked by accelerated infrastructure delivery, modernization of commuter systems through cashless integration, and swift enforcement of safety reforms—demonstrating a results-driven leadership style that prioritizes action over rhetoric.”
“This is precisely the kind of governance needed to restore integrity and accountability in DPWH, especially in light of recent anomalies in flood control projects,” FPI said.
As the country’s largest alliance of manufacturers, FPI pointed out that locally made and sourced inputs—such as steel, cement, among other critical materials— are available and produced in compliance with the Philippine National Standards (PNS).
“We urge contractors and project implementers to prioritize domestic products to support local industry, ensure quality, and maximize economic impact,” FPI
underscored.
The group of local manufacturers emphasized that substandard materials “don’t just crack infrastructure—they fracture the supply chain.”
FPI further noted: “They weaken structural integrity, undercut compliant producers, and open the door to procurement corruption.”
Hence, smuggled or poorly regulated inputs “distort” the market,reward bad actors, and leave communities exposed to risk. With this, it said: “We look forward to working with Secretary Dizon in advancing higher technical standards, transparent procurement systems, and a public infrastructure program that is resilient, inclusive, and built on trust.”
“The way forward must include independent monitoring, digital traceability, and full public disclosure of project specifications and supplier compliance—so that every structure built reflects not just progress, but integrity,” the alliance of local manufacturers noted.
Comelec seeks up to ₧9B more for 2026 barangay and SK polls
By Justine Xyrah Garcia
THE Commission on Elections (Comelec) will need an additional P6 to P9 billion to hold the barangay and Sangguniang Kabataan elections (BSKE) in 2026, its chief told lawmakers on Monday.
At the House Committee on Appropriations budget hearing, Comelec Chairman George Erwin M. Garcia asked for extra funds to cover more precincts and electoral boards, citing the expected surge in voter numbers.
By the commission’s estimates,
registered barangay voters could climb by at least four million with the registration period set to reopen in the last week of October Garcia noted that the poll body is working with an P11-billion allocation under the 2025 General Appropriations Act, which had assumed the elections would push through in December this year.
“The budget given to us for December does not include the new additional voters, does not include additional honoraria for teachers. The executive removed it. That means the extra P2,000 across the board that teachers received in the
2025 national and local elections is not in the budget for the barangay and SK,” Garcia said.
He explained that if the BSKE postponement holds, the Comelec will require P6 billion more if no additional support staff and teacher honoraria are provided, and up to P9 billion if these are included. Garcia appealed for the retention of teachers’ allowances, stressing the weight of their work during elections.
“It would be unfair to teachers. They start as early as three in the morning to open precincts, yet if they will only receive what they
used to get before the national and local elections, their situation would be pitiful,” he said. Last month, President Ferdinand Marcos signed Republic Act No. 12232, which extended the term of barangay and SK officials from three to four years and reset the December 1, 2025 polls to November 2, 2026. The Comelec, however, said it is prepared to push through with the elections this year should the Supreme Court issue a temporary restraining order, provided there is enough funding to cover the additional requirements.
PPP projects under implementation reach ₧3.58 trillion
THE value of public-private partnership (PPP) projects already under implementation has reached P3.58 trillion as of August 1, according to figures presented at the Senate national budget briefing on Monday.
Data from the PPP Center showed that 255 projects are currently in the implementation stage. It was comprised of 95 local
initiatives worth P953.06 billion and 160 national projects valued at P2.6 trillion.
The latest report marked an increase from July, when the PPP pipeline stood at 230 projects worth P2.86 trillion—the same figure recorded in June this year.
The July breakdown indicated 64 local projects with a combined cost of P154.74 billion, and 166
national projects amounting to P2.7 trillion.
The data also linked the PPP portfolio to the government’s Infrastructure Flagship Programs (IFPs), which remain dominated by big-ticket physical connectivity projects.
Figures showed that physical connectivity accounts for the highest sectoral share, valued at
P8.96 trillion, underscoring the administration’s focus on transport, mobility and logistics. Other IFP sectors include water resources, agriculture, health, digital connectivity, power and energy, education, housing and other infrastructure. These, however, are comparatively smaller slices of the overall program. Bless Aubrey Ogerio
Molasses price plunge prompts SRA to consider import controls
THE Sugar Regulatory Administration (SRA) is mulling over regulating molasses imports to stabilize millsite prices and clear space ahead of the milling season.
SRA Administrator Pablo Luis Azcona told the BusinessMirror that the agency wants to issue a Sugar Order (SO) before the start of milling season on September 29, as sugar mills lamented that they have full inventories of molasses.
Currently, the average millsite price of molasses has plunged by over a third or 35 percent to P12,000 per metric ton (MT) from P18,449 per MT last year, based on SRA data. The increase in molasses production in the current crop year was driven by the unexpected surge in sugarcane harvest and decreased yield, according to Azcona. This coincided
with the unabated entry of cheaper imports.
“We will look at why [molasses] imports are so high and perhaps possible steps to control them to maintain a stable inventory and millsite prices,” Azcona told this newspaper on the sidelines of a Senate hearing of the Committee on Agriculture, Food, and Agrarian Reform on Monday.
The SRA chief said stable millsite prices of molasses should range between P13,000 and P14,000 per MT, a competitive pricing against imports since the local sugar byproduct fares better for ethanol distillation.
“The milling season will start soon, so sugar mills’ tanks should be freed up. Otherwise, [molasses production] would increase and we run the risk of losing storage space,” Azcona said.
However, the SRA chief noted that the
issuance of an SO would only be issued after the audit of stock levels and their usage.
‘Domestic use’
EARLIER, the SRA said the entire sugar output of the country will be allocated for domestic use in the next crop year.
Azcona noted that sugar produced in the upcoming crop year 2025-2026, which will start on October 1, will be classified as “B” or domestic sugar.
Total raw sugar output reached 2.084 million metric tons (MMT) as of July 27, with almost 26 MMT of canes milled in 405,000 hectares. Of which, 392,000 were planted for sugar, while 13,000 were planted for bioethanol.
Azcona said the agency did not allot sugar for export in the upcoming crop year
that will fulfill the allocation it received from the United States under the tariff rate quota (TRQ) scheme.
Despite this, the SRA explained that the agency has been classifying sugar output as “B” since 2022 because the country’s production is still below the requirement of the domestic market.
“The US quota is not yet coming into play now. Among reasons why US quota was implemented then was apart from respecting trade agreements, we sometimes need to unload raw sugar when milling peaks in [January to March].”
The United States Trade Representative (USTR) recently announced that the Philippines again secured a raw sugar quota of 145,235
A6 Tuesday, September 2, 2025
Israel intensifies Gaza offensive, claims killing Hamas spokesperson; dozens reported dead
DBy Wafaa Shurafa, Samy Magdy & Sam Metz
The Associated Press
EIR AL-BALAH, Gaza Strip—
The Israeli military announced Sunday that it killed the longtime spokesperson for Hamas’ armed wing, as the country’s security cabinet met to discuss the expanding offensive in some of Gaza ‘s most populated areas.
There were no plans to discuss negotiations for a ceasefire at the meeting, according to an official who spoke on condition of anonymity because they were not authorized to speak with the media.
Israeli Defense Minister Israel Katz identified the spokesperson as Abu Obeida, the nom de guerre for the person who represented Hamas’ Qassam Brigades. He was killed over the weekend. Hamas has not commented on the claim.
Abu Obeida’s last statement was issued Friday as Israel began the initial stages of the new offensive and declared Gaza City a combat zone. His statement said the militants would do their best to protect living hostages but warned that they would be in areas of fighting. He said the remains of dead hostages would “disappear forever.”
Israel’s military said the spokesperson, whom it identified as Hudahaifa Kahlout, had been behind the release of videos showing hostages as well as footage of the Hamas-led attack that sparked the war. The military also reiterated a threat against remaining Hamas leaders abroad.
Israel has killed many of Hamas’ military and political leaders as it attempts to dismantle the group and prevent an attack like the one on October 7, 2023, when militants abducted 251 people and killed around 1,200, mostly civilians, in southern Israel.
Fewer than 50 hostages remain in Gaza, and Israel believes about 20 are alive. Families protested outside the security cabinet meeting, angry that it was not discussing a ceasefire.
“It is our side that is unwilling to sign a comprehensive deal and is unwilling to end the war and is deciding to sacrifice my child while he is still alive,” said Einav Zangauker, mother of hostage Matan Zangauker.
A ‘death trap’ while seeking food AT least 43 Palestinians were killed since Saturday, most of them in Gaza City, according to local hospitals. Shifa Hospital, the territory’s largest, said 29 bodies were brought to its morgue, including 10 people killed while seeking aid.
“Where are the resistance fighters that (Prime Minister Benjamin) Netanyahu claims he is bombing?
Does he consider stones resistance fighters?” said a relative of one of the dead at Shifa Hospital, who did not give her name.
Hospital officials reported 11 other fatalities from strikes and gunfire. Al-Awda Hospital said seven were civilians trying to reach aid.
Witnesses said Israeli troops opened fire on crowds in the Netzarim Corridor, an Israeli military zone that bisects Gaza.
“We were trying to get food, but we were met with the occupation’s bullets,” said Ragheb Abu Lebda, who saw at least three people bleeding from gunshot wounds. “It’s a death trap.”
Civilians have been killed as United Nations humanitarian convoys are overwhelmed by looters and desperate crowds, or shot on their way to sites run by the Gaza Humanitarian Foundation, an Israeli-backed US contractor.
The GHF told The Associated Press that there was “no incident at or near our site today.” Israel’s military did not respond to questions about Sunday’s casualties.
Too exhausted to evacuate ISRAEL for weeks has been operating on the outskirts of Gaza City to prepare for the offensive. The military has intensified air attacks on coastal areas of the city, including Rimal. Smoke rose over the city on Sunday.
In Rimal, quiet Palestinians looked through the rubble after a strike, some venturing into the upper floors of shattered buildings that were still standing. A child tried to pull a shopping cart loaded with plastic jugs over the debris.
The military has urged the hundreds of thousands of Palestinians in Gaza City to flee south, but many say they are exhausted after repeated displacements or
unconvinced that any safe place in Gaza remains.
More than 90% of the over 2 million Palestinians in Gaza have been displaced at least once during the war, many of them multiple times, according to the UN.
Israel has signaled that aid to Gaza City will be reduced, and it has announced new infrastructure projects in southern Gaza—steps that Palestinians say amount to forced displacement.
More deaths from hunger
SEVEN more Palestinian adults died of malnutrition-related causes over the last 24 hours, Gaza’s Health Ministry said.
That brought the adult death toll from malnutrition-related causes to 215 since June, when the ministry started to count them, it said, and 124 children have died of malnutrition-related causes since the war began.
In the largest attempt yet to break the Israeli blockade of the territory by sea, a flotilla of ships departed Sunday from Barcelona for Gaza with humanitarian aid and activists on board. Similar attempts in the past have failed.
At least 63,371 Palestinians have died during the war, said the ministry, which does not say how many were fighters or civilians but that around half have been women and children.
The ministry is part of the Hamas-run government and staffed by medical professionals. The U.N. and independent experts consider it the most reliable source on war casualties. Israel disputes the figures but has not provided its own.
Metz reported from Jerusalem and Magdy from Cairo. Associated Press Writer Melanie Lidman in Tel Aviv, Israel, contributed to this report.
Editor: Angel R. Calso
Houthi rebels raid UN offices in Yemen, detain 11 staffers as tensions rise following Israeli airstrike
By Samy Magdy The Associated Press
CAIRO—The Iran-backed Houthis raided offices of the United Nations’ food, health and children’s agencies in Yemen’s capital Sunday, detaining at least 11 UN employees, officials said. The rebels tightened security across Sanaa after Israel killed their prime minister and several Cabinet members.
Abeer Etefa, a spokesperson for the World Food Program, told The Associated Press that security forces raided the agencies’ offices in the Houthi-controlled capital Sunday morning. Also raided were offices of the World Health Organization and UNICEF, according to a UN official and a Houthi official, who spoke on condition of anonymity because they weren’t authorized to brief the media. The UN official said armed forces raided the offices and questioned employees in the parking lot.
Ammar Ammar, a spokesperson for UNICEF, said a number of the agency’s staffers were detained, and UNICEF was seeking additional information from the Houthis.
Both Etefa and Ammar said their agencies were conducting “a comprehensive head count” of their employees in Sanaa and other Houthi-held areas.
UN Secretary-General António Guterres in a statement late Sunday said at least 11 personnel had been detained. He condemned their detentions and the “forced entry into the premises of the World Food Program, the seizure of UN property and attempts to enter other UN premises in Sanaa.”
Guterres called for the immediate and unconditional release of the personnel detained Sunday as well as those detained in the past.
The raids were the latest in a long-running Houthi crackdown against the UN and other international organizations working in rebelheld areas in Yemen.
They have detained dozens of UN staffers, as well as people associated with aid groups, civil society and the now-closed US Embassy in Sanaa. The UN suspended its operations in the Houthi stronghold of Saada in northern Yemen after the rebels detained eight UN staffers in January.
At least 5 ministers confirmed killed in the Israeli strike SUNDAY’S raids followed the killing of the
Houthi prime minister and several of his Cabinet members in an Israeli strike Thursday. It was a blow to the Iran-backed rebels who have launched attacks on Israel and ships in the Red Sea in relation to the Israel-Hamas war in the Gaza Strip.
Among the dead were Prime Minister Ahmed al-Rahawi, Foreign Minister Gamal Amer, Deputy Prime Minister and Minister of Local Development Mohammed al-Medani, Electricity Minister Ali Seif Hassan, Tourism Minister Ali al-Yafei and Information Minister Hashim Sharafuldin, according to two Houthi officials and the victims’ families.
Also killed was a powerful deputy interior minister, Abdel-Majed al-Murtada, the Houthi officials said. They were targeted during a “routine workshop held by the government to evaluate its activities and performance over the past year,” a Houthi statement said Saturday, two days after the strike. The Houthis said a funeral for all those killed is scheduled for Monday in Sabeen Square in central Sanaa. Defense Minister Mohamed Nasser alAttefi survived the attack while Abdel-Karim al-Houthi, the interior minister and one of the most powerful figures in the rebel group, didn’t attend the Thursday meeting, the Houthi officials said.
UN envoy for Yemen Hans Grundberg expressed “great concern” over Israel’s recent strikes in the Houthi-controlled areas following Houthi attacks against Israel.
“Yemen cannot afford to become a battleground for a broader geopolitical conflict,” he said in a statement. He called for de-escalation.
Thursday’s strike came after the Houthis attacked Israel on August 21 with a ballistic missile that its military described as the first cluster bomb the rebels had launched at Israel since 2023. The missile, which the Houthis said was aimed at Ben Gurion Airport, prompted air raid sirens across central Israel and Jerusalem, forcing millions into shelters.
The Houthis are likely to escalate their attacks on Israel and ships in the Red Sea, after they vowed in July to target merchant ships belonging to any company that does business with Israeli ports, regardless of nationality.
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The World
Tuesday, September 2, 2025
Shanghai Cooperation Organization summit highlights challenge to US global leadership
By Christopher Bodeen
TThe Associated Press
AIPEI, Taiwan — The leaders of Russia, China, India and seven other nations met Monday in northern China for the latest annual summit of the Shanghai Cooperation Organization in what could be an emerging challenge to America’s global leadership.
The 10-member SCO, which gathered in the port city of Tianjin, has grown in size and influence since its founding 24 years ago, even while its goals and programs remain murky and name recognition low.
The SCO counts some clear US foes among its members
THE full membership also includes Belarus, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan and Uzbekistan. Originally seen as a foil to US influence in Central Asia, the organization expanded to include India and Pakistan in 2017, Iran in 2023 and Belarus in 2024.
Some of those are clear foes of the West, especially Iran and close Russian ally Belarus. Others including India, China and Russia have a more nebulous relationship, given Washington’s wobbly stance on Russia’s war with Ukraine and the US tariffs that have upended trading relationships with countries such as China and India.
From a regional bloc to a broader alliance SINCE its 2001 founding, the SCO
primarily has been dominated by China, the regional economic superpower, with Russia seeking to use the group to maintain its influence over former Central Asian Soviet republics Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan.
While Russia’s economic influence has declined steadily, especially under increasingly severe Western sanctions, both Russia and China have used the alliance as a framework for regional military cooperation, albeit limited to joint drills and firing competitions.
Belarus, Iran, Pakistan and India joined later in an apparent attempt to share in the SCO’s budding influence, though the value of their membership is debatable. Iran and Belarus have faced international condemnation over sanctions and human rights violations, while Pakistan is highly dependent on China for military hardware.
Group showcases Xi Jinping’s multipolarity vision
UNIVERSITY of Chicago political scientist Dali Yang said the SCO is one of the most prominent regional organizations China has cofounded.
“For China’s leadership, there is a lot of emphasis on maintaining existing relations in the international arena even though the SCO has not been effective in dealing with the major challenges of today,” Yang said.
The SCO seems to want to move
from being a dialogue platform to a “full-fledged mechanism of practical cooperation that brings tangible results to the citizens of the member states,” said June Teufel Dreyer, a University of Miami expert on Chinese politics. Yet the questions remain, “to what end and how?”
For China’s President Xi Jinping, “presiding over the gathering in Tianjin should net him some favorable publicity and possibly further his image as leader of a new global world order,” Dreyer said.
India’s entry could change the equation
SINCE the Russia-Ukraine war began, India has become a major buyer of Russian oil, increasing tensions with Washington. Modi also remarked on “steady progress” in improving relations with China after meeting its top diplomat in August and noted “respect for each other’s interests and sensitiveness.’’
India’s SCO entry potentially challenges Russian and Chinese domination over the association. Despite their trade ties, India is unlikely to offer meaningful support for Russia’s war in Ukraine or China’s claims to Taiwan and the South China Sea.
India has also long sought a permanent seat on the United Nations Security Council but has received only tepid backing from China and Russia, possibly to prevent their influence with the West from being diluted. Still, New Delhi stands to lose little as
Xi Jinping announces acceleration of SCO Development Bank amid calls for new global order at Tianjin summit
TBy Huizhong Wu The Associated Press
IANJIN , China—Chinese
President Xi Jinping said China would accelerate the creation of an SCO development bank Monday at the summit of the Shanghai Cooperation Organization in Tianjin, as he seeks to expand the organization’s influence and scope.
“Currently, as the global situation becomes more complex and turbulent, member states are facing more arduous safety and development responsibilities,” Xi said in opening remarks to the forum. He pledged $1.4 billion in loans in the next three years for SCO members. They are not specifically designated for the new development bank, for which no timeline has been released.
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi were among the leaders of a couple of dozen nations meeting as part of the SCO. The group, originally seen as a foil to US influence in Central Asia, has grown in size and influence over the years, but has remained largely a security forum.
With the addition of the bank and an emphasis on providing loans, Xi is attempting to expand the scope of the organization.
China on message
“HE wants to provide an alternate world order, because the US-led world order is very much in decline. This is the main narrative,” said Alfred Wu, a professor at the National University of Singapore’s Lee Kuan Yew School of Public Policy.
Xi also said states should “oppose the Cold War mentality, bloc-based confrontation and bullying, and safeguard the international system with the United Nations at its core” while “advocating for an equal and orderly multipolar world,
an inclusive economic globalization, and promote the building of a more just and reasonable global governance system.”
Xi’s remarks were consistent with China’s past comments. Opposition to a Cold War mentality is a reference to the America’s tough approach to China, as well as its withdrawal of funding from some U.N. agencies. But at this moment in time, China’s consistency is the message, Wu said.
Founded in 2001, the SCO now includes Russia, Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan and Uzbekistan. Afghanistan and Mongolia are observer states, and 14 other countries, including several from the Middle East, serve as “dialogue partners.”
The summit comes days ahead of a military parade in Beijing to which China has invited its allies and neighbors.
Focus on conflict ON Sunday, Xi met with Modi where they vowed to resolve their differences about a border dispute, which had led to a freeze in relations in 2020. The disputes revolve around three points in their vast border in India’s northern Ladakh and Arunachal Pradesh regions as well as near Bhutan.
Putin arrived for the summit Sunday and will attend the parade Wednesday for the 80th anniversary of Japan’s World War II surrender. Modi will not stay for the parade. North Korean leader Kim Jong Un, who is not attending the SCO summit, will be present for the military parade, along with the leader of Myanmar’s military government, Senior Gen. Min Aung Hlaing. Putin spoke to Xi on Sunday, ahead of the bilateral talks the two were scheduled to hold Tuesday. He updated the Chinese leader on the Russia-US talks on the Ukraine war in Alaska last month.
long as Washington continues to broadcast uncertainty with its foreign trade.
India refused to sign a joint statement at an SCO defense ministers meeting in June because it saw a pro-Pakistan stance in the omission of a mention of a deadly April 22 mass shooting of tourists in Indiancontrolled Kashmir.
Many of the leaders are attending a military parade in Beijing
THE official Xinhua News Agency called the Tianjin gathering the “largest-ever SCO summit in history” and said it would chart “the blueprint for the bloc’s next decade of development.”
The leaders of about a dozen other countries joined the summit as dialogue partners or guests, including Egypt, Nepal and several Southeast Asian nations.
Citing growing trade and rail freight between China and other members, observer states and dialogue partners, Beijing seems eager to emphasize the bloc’s economic benefits.
Documents being signed Monday included a statement on the 80th anniversary of the end of World War II, which China’s ruling Communist Party will mark with a military parade in central Beijing on September 3. Many of the same leaders will attend the parade, where North Korea’s Kim Jong Un will make a rare overseas appearance
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“I would like to note that the understandings reached at the recent high-level Russian-American summit in Alaska are also, I hope, moving in this direction, opening the way to peace in Ukraine,” Putin said.
Development policy has been a large part of the messaging in recent days. Putin said Russia and China were jointly “against discriminatory sanctions” that hurt the socioeconomic development of the world at large in a written interview released by the Chinese official news agency Xinhua on Saturday.
He said Russia, alongside its Chinese partners, supports the reform of the International Monetary Fund and the World Bank.
“It is essential to end the use of finance as an instrument of neo-colonialism, which runs counter to the interests of the Global Majority,” he said.
Security is still key WHILE China is eager for the SCO to take a larger role on the global stage, it remains to be seen how effective the organization will be. Its focus in the past has been on propping up the security initiatives of its member states. China said the SCO is effective in combating what it refers to as the three forces: terrorism, separatism and extremism.
Those threats are what Beijing cited after it swept more than 1 million Uyghurs, Kazakhs and members of other largely Muslim minorities into camps, prisons, and other detention facilities in 2018.
“Their anti-terrorism exercises are more about countering threats to authoritarian regimes rather than countering terrorism in its own right,” said Derek Grossman, a professor of international relations at the University of Southern California.
AP researcher Shihuan Chen in Beijing and writer Kanis Leung in Hong Kong contributed to this report.
“Our military approach of targeting the Israeli enemy, whether with missiles, drones or a naval blockade, is continuous, steady, and escalating,” al-Houthi, the group’s secretive leader, said in a televised speech Sunday.
Meanwhile, Yemen’s Houthi rebels said Monday they launched a missile at an oil tanker off the coast of Saudi Arabia in the Red Sea, potentially renewing their attacks targeting shipping through the crucial global waterway.
Houthi military spokesman Brig. Gen. Yahya Saree claimed responsibility for the launch in a prerecorded message aired on al-Masirah, a Houthi-controlled satellite news channel. He alleged the vessel, the Liberian-flagged Scarlet Ray, had ties to Israel.
The ship’s owners, Singapore-based Eastern Pacific Shipping, could not be immediately reached. However, the maritime security firm Ambrey described the ship as fitting the Houthis’ “target profile, as the vessel is publicly Israeli owned.”
Eastern Pacific is a company that is ultimately controlled by Israeli billionaire Idan Ofer. Eastern Pacific previously has been targeted in suspected Iranian attacks.
The British military’s United Kingdom Maritime Trade Operations center, which monitors Mideast shipping, earlier reported a ship heard a splash and a bang off its side near Yanbu, Saudi Arabia.
From November 2023 to December 2024, the Houthis targeted more than 100 ships with missiles and drones over the Israel-Hamas war in the Gaza Strip. In their campaign so far, the Houthis have sunk four vessels and killed at least eight mariners.
The Iranian-backed Houthis stopped their attacks during a brief ceasefire in the war. They later became the target of an intense weekslong campaign of airstrikes ordered by U.S. President Donald Trump before he declared a ceasefire had been reached with the rebels. The Houthis sank two vessels in July, killing at least four on board with others believed to be held by the rebels.
The Houthis’ new attacks come as a new possible ceasefire in the Israel-Hamas war remains in the balance. Meanwhile, the future of talks between the US and Iran over Tehran’s battered nuclear program is in question after Israel launched a 12-day war against the Islamic Republic in which the Americans bomb three Iranian atomic sites.
Magnitude 6 earthquake destroys villages in Afghanistan, kills more than 800 people
KABUL, Afghanistan—The death toll from a strong earthquake in eastern Afghanistan has jumped to over 800, with at least 2,500 injured, a Taliban government spokesman said Monday.
Most of the casualties were in Kunar province, according to figures provided by Zabihullah Mujahid at a press conference. A 6.0-magnitude earthquake struck the eastern part of the country late Sunday, causing extensive damage and destroying entire villages.
The 6.0 magnitude quake late Sunday hit towns in the province of Kunar, near the city of Jalalabad in neighboring Nangahar province, causing extensive damage.
The quake at 11:47 p.m. was centered 27 kilometers (17 miles) east-northeast of the city of Jalalabad in Nangarhar province, the US Geological Survey said. It was just 8 kilometers (5 miles) deep. Shallower quakes tend to cause more damage. Several aftershocks followed.
Footage showed rescuers taking injured people on stretchers from collapsed buildings and into helicopters as people frantically dug
through rubble with their hands.
Interior Ministry spokesman Abdul Matin Qani told The Associated Press that 610 people had been killed and 1,300 injured in Kunar and a dozen people died and hundreds were injured in Nangarhar. Many houses were destroyed.
Buildings in Afghanistan tend to be low-rise constructions, mostly of concrete and brick, with homes in rural and outlying areas made from mud bricks and wood. Many are of poor construction.
One resident in Nurgal district, one of the worst-affected areas in Kunar, said nearly the entire village was destroyed.
“Children are under the rubble. The elderly are under the rubble. Young people are under the rubble,” said the villager, who did not give his name.
“We need help here,” he pleaded.
“We need people to come here and join us. Let us pull out the people who are buried. There is no one who can come and remove dead bodies from under the rubble.”
Homes collapsed and people screamed for help EASTERN Afghanistan is mountainous, with remote areas. The quake has worsened communications.
One survivor described seeing homes collapse before his eyes and people screaming for help.
Sadiqullah, who lives in the Maza Dara area of Nurgal, said he was woken by a deep boom that sounded like a big storm approaching. Like many Afghans, he uses only one name. He ran to where his children were sleeping and rescued three of them. He was about to return to grab the rest of his family when
Persecuted Thai pro-democracy party poised to play kingmaker
By Patpicha Tanakasempipat
A& Philip J. Heijmans
THAI pro-democracy party whose rise to power has been thwarted by the country’s conservative establishment is suddenly in pole position to anoint its next prime minister.
After the Constitutional Court ousted Prime Minister Paetongtarn Shinawatra on Friday for an ethics violation, her unwieldy
10-party coalition split up. Now the People’s Party, which has been in opposition since a 2023 election despite winning the most seats, is being courted by rival political groups seeking to form a government.
The two main possibilities to become prime minister are Anutin Charnvirakul, the conservative leader of Bhumjaithai who is widely considered the frontrunner, and Chaikasem Nitisiri, the only remaining candidate backed by the billionaire Thaksin
Shinawatra, the father of Paetongtarn who had been the country’s most popular politician over the past few decades.
The People’s Party has set several conditions to secure its backing, including dissolving the lower house within four months to call a snap election and holding a referendum on a new constitution. “The best way out is to hold an election,” spokesman Parit Wacharasindhu told reporters Monday as its leaders met to formalize their strategy. The meeting was ongoing and no decision had been made by late afternoon.
The emergence of the People’s Party as kingmaker poses a fresh test for the country’s royalist establishment. Even if any new government is effectively a caretaker administration, a strong showing for the
pro-democracy party in the next election would again put it at risk of being disbanded for advocating measures that would curtail the monarchy’s powers, similar to its two predecessors.
“ The constitution is crooked, designed to keep parties and politicians weak and to give the power to the judicial system,” said Thitinan Pongsudhirak, a professor of political science at Chulalongkorn University. “The rules are rigged. Rigged rules lead to a big mess.”
Yielding to People’s Party’s conditions also means the next prime minister risks heading a minority government that will only be in power for a few months. That
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the room fell on top of him.
“I was half-buried and unable to get out,” he told The AP by phone from Nangarhar Hospital. “My wife and two sons are dead and my father is injured and in hospital with me. We were trapped for three to four hours until people from other areas arrived and pulled me out.”
It felt like the whole mountain was shaking, he said.
Rescue operations are underway and medical teams from Kunar, Nangarhar and the capital Kabul have arrived in the area, said Sharafat Zaman, a health ministry spokesman.
Zaman said many areas had not been able to report casualty figures and that “the numbers were expected to change” as deaths and injuries are reported.
The Taliban government’s chief spokesman, Zabihullah Mujahid,
said “all available resources will be utilized to save lives.”
Nearby Jalalabad is a bustling trade city due to its proximity with neighboring Pakistan and a key border crossing between the countries. Although it has a population of about 300,000 according to the municipality, its metropolitan area is thought to be far larger.
Jalalabad also has considerable agriculture and farming, including citrus fruit and rice, with the Kabul River flowing through the city.
A magnitude 6.3 earthquake struck Afghanistan on October 7, 2023, followed by strong aftershocks. The Taliban government estimated at least 4,000 people perished in that quake.
The UN gave a far lower death toll of about 1,500. It was the deadliest natural disaster to strike Afghanistan in recent memory.
South Korea exports remain solid on chip demand despite
By Heesu Lee
SOUTH Korea’s exports held up, buoyed by strong semiconductor and auto shipments, underscoring manufacturers’ resilience in the face of sweeping US tariffs.
Overseas shipments gained 1.3% in August from a year earlier, customs data showed Monday, following a 5.8% increase in July. On a working-day adjusted basis, exports gained 5.8%, after rising at the same pace in July. Imports declined by 4%, bringing the trade balance to a surplus of $6.5 billion.
Semiconductor exports jumped 27%, driven by demand for highperformance chips used in artificial intelligence, while vehicle shipments gained 9%. Exports to Southeast Asian nations rose almost 12% in August, a third consecutive advance, driven by strong shipments of semiconductors and vessels, according to a statement from the trade ministry.
The Trump administration said Friday it’ll revoke waivers for Samsung Electronics Co. and SK Hynix Inc. to use US technologies in their Chinese operations, posing risks to South Korea’s exports.
“In the short term, a direct impact on Korea’s semiconductor exports is unlikely, but if maintenance equipment requires case-bycase US approval, that could affect Samsung and SK Hynix’s production in China,” said Hyosung
US tariff
Kwon, a Bloomberg economist.
“Over the longer run, restrictions may make it harder to upgrade to advanced processes at Chinese plants. That could reduce output in China — and boost Korean chip exports to the country.”
“We expect shipments to continue to hold up in September as firms rush to get goods out the door ahead holidays in early October. Still, the bigger picture is less benign — pressure from US tariffs will probably start to register more clearly in the fourth quarter,” said Bloomberg economist Hyosung Kwon.
The two firms run major chip plants in China that rely on American equipment and software, meaning the change could hamper production, limit supply to Chinese customers and add uncertainty to global technology supply chains. Samsung and SK have 120 days until the waiver expires, and can seek licenses to continue operations, according to an announcement in the US Federal Register.
Meanwhile, overall shipments to the US plunged 12% in August from a year earlier, and exports to China slipped 2.9%, the trade ministry said.
August marked the third straight monthly gain for total shipments, offering some relief for the export-reliant economy. But the reprieve may be fleeting,
South Korea. . .
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as the effort to front-load shipments ahead of higher tariffs is expected to fade, and potential semiconductor tariffs threaten to sap momentum. President Donald Trump has threatened to impose new tariffs on US imports of semiconductors, saying that in some cases the levies could reach 300%.
The last-minute agreement on trade with Washington in late July spared Korean manufacturers from the worst-case scenario, as Trump had threatened to impose a 25% levy on South Korean imports. Still, the new levy set at 15% marks a shift from decades of a tariff-free regime guaranteed by the bilateral trade pact. The central bank last week warned tariff impacts would ripple through the economy via trade, financial markets and business sentiment. Trade is expected to absorb the biggest hit, with exports to the US shrinking as higher costs erode competitiveness and weaker American demand reduces orders.
Steel is among the sectors hardest hit by the US tariffs, with overall exports plunging more than 15% last month from a year earlier, after Trump doubled duties on US imports of steel and aluminum to 50% in early June.
The data also came after South Korean President Lee Jae Myung’s first in-person summit with Trump, during which the two leaders reaffirmed their commitment to strengthening economic ties and pledged to expand cooperation on advanced manufacturing and supply chains.
Bank of Korea Governor Rhee Chang Yong said at a policy briefing last week that exports had risen more than expected despite higher US tariffs, led by chips and autos. He said the gains lifted this year’s GDP growth forecast by about 0.2 percentage point, while cautioning that tariff effects could intensify over time. The bank kept its 2026 growth outlook at 1.6%.
Bloomberg News
Congress returns to face govt shutdown threat, Russian sanctions, Biden probes
By Mary Clare Jalonick, Kevin Freking & Stephen Groves The Associated Press
CONGRESSIONAL Repub -
licans scored a massive victory this summer when they passed President Donald Trump’s “big beautiful bill” of tax and spending cuts without a single Democratic vote. But as they return to Washington this fall after a monthlong August recess, they will have to find a way to work with Democrats—or around them—as a government shutdown looms.
The annual spending battle will dominate the September agenda, along with a possible effort by Senate Republicans to change their chamber’s rules to thwart Democratic stalling tactics on nominations. The Senate is also debating whether to move forward on legislation that would slap steep tariffs on some of Russia’s trading partners as the US pressures Russian President Vladimir Putin on Ukraine.
In the House, Republicans will continue their investigations of former President Joe Biden while Speaker Mike Johnson navigates a split in his conference over whether the Trump administration should release more files in the Jeffrey Epstein investigation. A look at what Congress will be doing as lawmakers return from the August break:
Keeping the government open THE most urgent task for Congress is to avoid a government shutdown on Sept. 30, when federal funding runs out. And it’s so far unclear if Republicans and Democrats will be able to agree on how to do that.
Congress will have to pass a short-term spending measure to keep the government funded for a
few weeks or months while they try to finish the full-year package. But Republicans will need Democratic votes to pass an extension, and Democrats will want significant concessions.
Senate Democratic Leader Chuck Schumer’s vote with Republicans to avoid a shutdown in March prompted furious backlash within his party.
The Trump administration’s efforts to claw back previously approved spending could also complicate the negotiations. Republicans passed legislation this summer that rescinded about $9 billion in foreign aid and public broadcasting funds and Trump notified Congress again on Friday that he will block $4.9 billion in congressionally approved foreign aid.
Democrats have warned that such efforts could tank the broader negotiations. “Trump is rooting for a shutdown,” Sen. Chris Murphy, D-Conn., posted on social media Friday.
Senate nominations fight SENATORS are expected to return to Washington right where they left off in early August—fighting over Trump’s nominees.
Exasperated Republicans fled Washington for the month after making little headway with Senate Democrats over their nominations blockade, which has forced delays in confirmations and angered Trump as many of his administration’s positions remain unfilled. Republican leaders called it quits after a rare Saturday session that ended with a breakdown in bipartisan negotiations and Trump posting on social media that Chuck Schumer could “GO TO HELL!”
Republicans now say they’re ready to try and change Senate rules to get around the Democratic
delays, and they are expected to spend the next several weeks discussing how that might work.
Russian sanctions
REPUBLICAN Sen. Lindsey Graham of South Carolina, one of Trump’s closest congressional allies, has pushed the president for months to support his sweeping bipartisan sanctions bill that would impose steep tariffs on countries that are fueling Russia’s invasion of Ukraine by buying its oil, gas, uranium, and other exports. The legislation has the backing of 85 senators, but Trump has yet to endorse it, and Republican leaders have so far said they won’t move without him.
Graham has stepped up his calls after Trump met with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy last month in hopes of a peace deal. Since then, Russia has continued to step up attacks on Ukraine.
“If we don’t have this thing moving in the right direction by the time we get back, then I think that plan B needs to kick in,” Graham said of his bill in an interview with The Associated Press last month.
Oversight of the CDC
HEALTH and Human Service
Secretary Robert F. Kennedy will appear before the Senate Finance Committee to discuss his health care agenda on Thursday, less than a week after he ousted Susan Monarez as director of the Centers for Disease Control and Prevention. Several other top officials also resigned in protest.
Kennedy has tried to advance anti-vaccine policies that are contradicted by decades of scientific research. Monarez’s lawyers said she refused “to rubber-stamp un -
scientific, reckless directives and fire dedicated health experts.”
Louisiana Sen. Bill Cassidy, the Republican chairman of the HELP panel that oversees the CDC and a member of the Finance Committee, has called on the CDC to delay a meeting of outside experts who make recommendations on the use of vaccines until Congress can look into the issue.
Divisions over Epstein
THE House left Washington in July amid disagreements among Republicans about whether they should force President Donald Trump’s administration to release more information on the sex trafficking investigation into the late Jeffrey Epstein. The pressure for more disclosure could only get more intense when lawmakers return.
Democratic Rep. Ro Khanna of California and Republican Rep. Thomas Massie of Kentucky are pushing the House to take up their bill to force the Department of Justice to publicly release its investigation. They are planning a news conference this week joined by Epstein victims. The House Oversight Committee is also investigating the issue.
Democrats are eager to keep pressing on the Epstein files, especially after the Trump administration reneged on pledges for transparency. The case for years has been the subject of online conspiracy theories and speculation about who may have been involved or aware of the wealthy financier’s abuse.
Investigating Biden
THE House Oversight Committee will return from August recess with a slate of interviews lined up as part of its investigation
into former President Joe Biden’s mental state while in office. The committee has already conducted interviews and depositions with nearly a dozen former top Biden aides and members of the president’s inner circle.
The Republican-led committee will hear from former top Biden staffers in September like Jeff Zients, Biden’s final White House chief of staff, Karine Jean-Pierre, the former White House press secretary, and Andrew Bates, a top press aide.
Oversight Chair James Comer, R-Ky., has said public hearings and a full report can be expected sometime in the fall.
Stock trading ban
CONGRESS has discussed proposals for years to keep lawmakers from engaging in trading individual stocks, nodding to the idea that there’s a potential conflict of interest when they are often privy to information and decisions that can dramatically move markets.
That push is now gaining momentum. A Senate committee has approved legislation from GOP Sen. Josh Hawley of Missouri that would also extend the prohibition on stock trading to future presidents and vice presidents—while notably exempting Trump. In the House, several members are putting forward proposals and even threatening to maneuver around GOP leadership to force a vote.
Still, there is plenty of resistance to the idea, including from many wealthy lawmakers who reap dividends from their portfolios.
The Associated Press writers Matt Brown and Joey Cappelletti contributed to this report.
Pope demands end to ‘pandemic of arms’ as he prays for victims of Minnesota school shooting
By Nicole Winfield The Associated Press
VATICAN CITY—Pope Leo
XIV on Sunday called for an end to the “pandemic of arms, large and small,” as he prayed publicly for the victims of a shooting during a Catholic school Mass in the United States.
History’s first US pope spoke in English as he denounced the attack and the “logic of weapons” fueling wars around the world, during his Sunday noon blessing from his studio overlooking St. Peter’s Square.
“Our prayers for the victims of the tragic shooting during a school Mass in the American state of Min -
Thai. . .
Continued from A8 could spell more political turmoil, with analysts warning of policy paralysis and fiscal profligacy in the run-up to elections.
Thai stocks are down almost 12% this year, the worst performer in Asia, while its currency has strengthened more than 5% amid sustained dollar weakness.
Moody’s Ratings said in a recent analysis that Thailand’s polarized politics— characterized by frequent government changes and fragile coalitions—has held back investment and stalled reforms needed to fix structural issues.
“ We expect the political uncertainty in Thailand to persist over the medium term, which will continue to drag on the country’s growth potential and add to its vulnerability to shocks,” Moody’s said in a report.
Within hours of the Constitutional Court decision on Friday that removed
nesota,” said the Chicago-born Leo. “We hold in our prayers the countless children killed and injured every day around the world. Let us plead God to stop the pandemic of arms, large and small, which infects our world.”
Two children were killed Wednesday and 20 people were injured during the shooting attack at the Church of Annunciation in Minneapolis, as hundreds of students from the nearby Annunciation Catholic School and others gathered for a Mass. The shooter fired 116 rifle rounds through the church’s stained-glass windows, and later died by suicide. The attack once again reig -
Paetongtarn, Anutin was at the People’s Party office to lobby for support, a surprise for Thai watchers given the conservative bona fides of his Bhumjaithai Party. After the meeting, the businessman-turnedpolitician said he was ready to accept the People’s Party’s conditions. But on Saturday, People’s Party leader Natthaphong Ruengpanyawut said his group had yet to commit. The party, backed by largely young and urban voters frustrated with the stranglehold of the old guard in Thai politics, is prepared to consider all proposals subject to its conditions being met, he said.
O n Sunday, the party held talks with Thaksin’s Pheu Thai Party, a day after the billionaire telegraphed his openness to its reform agenda by meeting with Thanathorn Juangroongruangkit, the founder of the Future Forward Party, the original incarnation of the progressive political group.
nited the debate over guns in America. Those who support stricter background checks on
Political realignment
THAILAND has a long history of political instability marked by royalist judges and generals booting out elected prime ministers. Paetongtarn became the fifth premier associated with her father’s Shinawatra clan to be dismissed by the Constitutional Court. Thaksin’s Pheu Thai party now only has one possible candidate left after seeing two prime ministers booted out in roughly a year’s time.
Anutin has secured the support of 279 lawmakers, more than the 247 votes required to clinch the job, Thai media outlet The Nation reported Saturday. That number includes 143 lawmakers from the progressive People’s Party, along with proroyalist and establishment parties that had previously opposed it.
If Anutin wins the progressive party’s support, it would mark yet another realignment of political forces in Thailand. His Bhumjaithai Party was among the first to oppose a bid to form a government by
gun purchases and other laws, often Democrats, say that Republican politicians who appeal
Move Forward, which won the most seats in the last election before the Constitutional Court disbanded it last year, prompting its lawmakers to form the People’s Party. People’s Party has maintained a wide margin over its rivals in recent opinion polls, with its leader Natthaphong ranked the most preferred premier candidate. However, current rules bar any of its candidates from holding the top spot until after the next election.
P eople’s Party defended its decision to offer conditional support for either conservative candidate, saying in an X post that it was “focused on moving the country towards a new election as soon as possible to bring about change in line with the ideology that the party adheres.”
While there’s always a risk of People’s Party being shortchanged in a deal with any alliance, it also could emerge stronger after the next election, according to Stithorn Thananithichot, a political science lecturer at Chulalongkorn University in Bangkok. Bloomberg News
to “thoughts and prayers” after school shootings are trying to distract from their own inaction on gun restrictions.
In the immediate aftermath of the shooting, Leo had refrained from any political commentary about guns in America, sending a telegram of condolence that focused exclusively on the spiritual. He said he was saddened by the “terrible tragedy” and sent his “heartfelt condolences and the assurance of spiritual closeness to all those affected.”
“Sadly, the answer, as we all know, is simply for money: money that is drenched in blood, often innocent blood,” Francis said then. “In the face of this shameful and culpable silence, it is our duty to confront the problem and to stop the arms trade.”
Leo had opened his appeal Sunday by demanding an immediate ceasefire in Ukraine and a “serious commitment to dialogue” from the warring sides.
Leo’s predecessor, Pope Francis, had long railed against the weapons industry and proliferation of arms fueling wars, denouncing gun manufacturers as “merchants of death.” During his historic 2015 speech to the US Congress, the Argentine pope asked the lawmakers why weapons were being sold purely to kill.
POPE Leo XIV delivers his blessing as he recites the Angelus noon prayer from the window of his studio overlooking St. Peter’s Square, at the Vatican, Sunday, August 31, 2025. AP/ANDREW MEDICHINI
Submerged integrity: Corruption erodes flood defenses and endangers Filipinos
WHEN the Federation of Philippine Industries (FPI) raises alarms regarding “massive anomalies” in flood control projects, it’s more than just industry whining—it’s a grim warning essential to the country’s survival. (Read the BusinessMirror story: “FPI drafts 4-point plan to eliminate anomalies in flood control projects,” August 29, 2025).
As FPI Chairperson Elizabeth Lee stated, when the very infrastructure meant to shield our people from disaster is compromised by corruption, it is not only concrete that cracks; it also erodes the foundation of public trust, industry confidence, and, most gravely, the safety of millions of Filipinos. The FPI, echoing President Marcos’ own concerns, has highlighted a damning pattern: undocumented projects, identical contract amounts, substandard work, and the alarming use of uncertified materials. These are not mere bureaucratic lapses. They are red flags of a deeper malaise— corruption and negligence that leave communities and factories exposed to the wrath of typhoons and monsoon floods. Every fraudulent project is an open invitation to catastrophe, destroying not just homes but also livelihoods and critical supply chains.
Floods in the Philippines are not rare, nor are their consequences mild. Failed flood control projects are not simply unfinished business—they are active hazards. Every peso stolen or misallocated is a risk multiplied: to families who lose everything, to farmers whose crops are washed away, to manufacturers whose factories are inundated, and to the entire economy that grinds to a halt.
The FPI’s action plan is as clear as it is urgent:
Accountability and transparency: Investigate every anomalous project, hold officials and contractors fully responsible, and make these findings public. Only through transparency can we restore faith in public works.
Higher technical standards: Infrastructure must be built not to minimum cost, but to maximum resilience. The government must demand designs and materials that meet or exceed global benchmarks.
Strict monitoring and enforcement: Independent inspections, regular audits, and serious sanctions—including blacklisting—must become the norm, not the exception.
Compliance with Philippine National Standards: All materials must meet PNS specifications. Random checks must be routine, and substandard products must be kept out of the system at all costs.
The FPI is correct: flood control is too important to be compromised. This is not just about compliance with codes; it is about protecting lives and ensuring the nation’s economic future. The integrity of our infrastructure reflects the integrity of our institutions. If we allow corruption to persist in flood control projects, we risk far more than wasted money—we risk calamity on a national scale.
Chairperson Lee’s words ring true: “Never underestimate the value of integrity in everything we do—especially in infrastructure.” The government must heed this call. It is time to move beyond rhetoric and embrace decisive, transparent action. Only then can we build not just stronger flood barriers, but a stronger, more resilient Philippines.
The stakes could not be higher. In flood control, as in all things, the nation cannot afford failure.
Opinion
Collapse begins with self-delusion
GJohn Mangun
OUTSIDE THE BOX
REAT powers do not collapse because enemies are cleverer or stronger. They collapse because they start believing their own propaganda. The most destructive force is not war, debt, or drought. It is self-delusion—the soothing conviction that “we are too strong to fail” even as the foundations quietly crack. The cruel truth is that weakness often hides in plain sight until the collapse is already underway.
Consider Emperor Norton, an eccentric figure of San Francisco’s Gold Rush era. In 1859, Joshua Norton, a bankrupt businessman, declared himself “Emperor of these United States” and later “Protector of Mexico.” He had no mandate, no army, no authority. Yet the city played along. Merchants accepted his self-printed currency, theaters gave him seats of honor, and newspapers published his proclamations as harmless curiosities. His “reign” endured for 20 years not because he held power but because society preferred fantasy over confrontation.
History shows this indulgence is not unique. In the late 1960s, Soviet dissident Andrei Amalrik asked a forbidden question: could the Soviet Union collapse within his lifetime? His answer was yes, and he was right. Amalrik argued that great powers rarely fall suddenly from external
attack but slowly, through a cancer so deeply normalized it becomes invisible. His warning was against what he called a “comfort cult”—the fatal assumption that reason and tradition guarantee survival. His method was to imagine the impossible—collapse—and then work backward to identify warning signs.
Amalrik pointed to four corrosive forces. First, the moral exhaustion from endless interventions: the fatigue of a state trying to insert itself everywhere—militarily, politically, and economically—while demanding sacrifices that citizens and elites no longer believe in. Second, the economic strain of sustaining these permanent conflicts. Third, repression of dissent. And finally, elites drifting away from the center of power. The Soviet Union unraveled in 1991 along exactly this path. The shock was not the fall itself but how blind the in-
siders had been to its inevitability.
The Ming Dynasty offers a different parallel. Historian Ray Huang famously described 1587 as a year of “no significance.” That year, Grand Secretary Zhang Juzheng, who had kept the state functioning, died. The emperor withdrew, bureaucracy fossilized, reforms stalled, and infighting replaced competence. The empire did not collapse in battle but in paperwork and paralysis. Outward calm masked internal decay.
The Philippines should take these lessons seriously. We boast of resilience while leaning on a fragile foundation. GDP grew 6.3 percent in the second quarter of 2024, up from 5.8 percent earlier that year, but compared to 2023’s weak 4.3 percent, it looks more like rebound than miracle. Inflation averaged 6 percent in 2023, and with the peso stuck near 57 to the dollar, households feel their purchasing power shrinking. Government debt now tops 60 percent of GDP, a two-decade high. Remittances hit a record $36.1 billion last year, propping up the economy but also exposing dependence on workers abroad instead of jobs at home.
Yet we keep flattering our illusions: that remittances will always carry us, that typhoons are only seasonal inconveniences, that deficits can be patched with more borrowing. We proclaim the country “open for business” even as tourist arrivals lag behind pre-pandemic levels. We celebrate grand infrastructure projects only to watch new flood controls fail at the first heavy rains. The slogans
are polished, but the failures are too obvious to ignore.
Amalrik’s method should be our guide: imagine collapse, then work backward. What if global capital flees emerging markets tomorrow? What if lower US interest rates do not reduce our debt burden? What if another geopolitical shock drives oil prices through the ceiling? To dismiss these as impossible is the very definition of self-delusion. The antidote is not hope. It is deliberate planning. Strengthen food security by supporting farmers instead of clinging to imports. Build health systems for permanence, not ribbon-cutting ceremonies. Break the habit of leaning on a narrow base of consumption, debt-driven construction, and services exports, while neglecting manufacturing, agriculture, and long-term industries. Above all, build institutions that outlast personalities. Emperor Norton shows that delusion can be tolerated when it is harmless. Amalrik proves it can destroy a superpower. Huang demonstrates that stagnation can kill an empire even when the surface looks calm. For the Philippines, the choice is whether our illusions remain a historical footnote—or become our fate. And unlike Emperor Norton, history will not laugh at our foolishness, but only condemn.
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.
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Modi shores up ties with China, Russia in defiance of Trump
PRIME Minister Narendra Modi used his first trip to China in seven years to reset relations with India’s powerful neighbor while also seeking to strengthen ties with Russia as President Donald Trump ratchets up tensions with New Delhi.
Modi met Chinese President Xi Jinping in Tianjin on Sunday at a regional security and economic summit, with both sides pledging to be partners, not rivals. They discussed border issues, resuming direct flights and increasing trade, according to official readouts from both sides.
On Monday, Modi will meet President Vladimir Putin at the Tianjin summit, as ties between the two countries come under scrutiny. Trump has publicly lambasted India for buying oil from Russia, accusing New Delhi of funding Putin’s war in Ukraine. The Trump administration last week imposed 50 percent tariffs on Indian goods bound for the US, the highest in Asia, to penalize it for those energy purchases.
Trump’s actions have shown New Delhi it can’t depend on its relations
with the US, said Anil Trigunayat, a former Indian ambassador to Jordan, Libya and Malta.
“It’s important for countries like India, to find its own path and own partners,” Trigunayat told Times Now on Sunday.
Modi spoke with Ukraine’s President Volodymyr Zelenskiy ahead of his trip to China, reiterating his call for peace. Zelenskiy said India was ready to “deliver the appropriate signal to Russia and other leaders” during Modi’s meetings in Tianjin. Modi last spoke with Putin after the Russian leader’s summit with Trump in Alaska to seek a peace deal. Putin is expected to visit India later this year.
Trump’s aides like Peter Navarro say India is profiteering off the war, by buying oil at a discount from Russia—refining it and selling it to buy-
ers in Europe and elsewhere. Modi’s top officials have defended India’s longstanding ties with Russia and argued that the US had previously encouraged the oil purchases to prevent a slump in global oil prices. Navarro reiterated his criticisms Sunday, saying in an interview with Fox News that India didn’t buy much oil from Russia before its fullscale assault on Ukraine, but that it was now fueling “the Russian war machine.” He added that “India is nothing but a laundromat for the Kremlin.”
“Modi’s a great leader,” Navarro said. “I don’t understand why he’s getting to bed with Putin and Xi Jinping, when he’s the biggest democracy in the world.”
Trump’s trade war with China and India has accelerated efforts by both countries to rebuild ties after they took initial steps last year to ease tensions along their 3,488 kilometer (2,167 miles) unmarked border.
“The international situation is both fluid and chaotic,” Xi said at the meeting with Modi. It is right for China and India “to be friends who have good neighborly and amicable ties, partners who enable each other’s success, and to have the dragon and the elephant dance together,” he said. Modi is seeking to bolster India’s economy in the face of Trump’s tariffs, cutting taxes to boost domestic spending while seeking new markets for its goods. The US is India’s biggest export market, and economists like Citigroup Inc. estimate the tariffs will cut the annual growth rate by as much as 0.8 percentage points. Before the China trip, Modi visited Japan for two days, where he secured investment pledges of up to ¥10 trillion ($68 billion) from Japanese Prime Minister Shigeru Ishiba. The investment is part of a broader economic security pact that covers cooperation on semiconductors, critical minerals, and artificial intelligence. The two sides also launched new initiatives to support startups, as well as to partner on clean energy and space. Bloomberg
Delivery driver’s death unleashes rage at Indonesia’s elites
By Claire Jiao & Chandra Asmara
CAUGHT up in a crowd of protesters while delivering food in Indonesia’s capital on Thursday night, Affan Kurniawan dropped his mobile phone and knelt down to pick it up.
At that moment an armored police vehicle slammed into the 21-yearold motorcycle taxi driver, pinning him under its front tires. As a crowd descended on the vehicle, the police officer hit the accelerator and ran over his body. Affan was rushed to a Jakarta hospital but didn’t survive.
The fatal crash—caught on video and rapidly spread in group chats and on social media—turned what appeared to be manageable protests over rising costs of living into the most serious test yet for President Prabowo Subianto, who took power about 10 months ago.
“Affan’s martyrdom changes the game completely,” said Lionel Priyadi, a fixed income and macro strategist at PT Mega Capital. “Now, the government is facing strong antipolitical elite and anti-government sentiment.”
While Jakarta appeared calmer on Monday morning, the past few days of protests have left at least four people dead and hundreds injured. Buildings throughout the country were set ablaze as protests spread to nearly a dozen major cities. And the houses of Finance Minister Sri Mulyani Indrawati and several lawmakers were reportedly targeted by looters. Intruders at various locations were seen carrying bathtubs, Louis Vuitton and Hermes handbags, and even Labubu dolls.
Prabowo canceled a planned trip to China and held an emergency cabinet meeting in a bid to restore order in the nation of 280 million people. In a televised address on Sunday, he announced the revocation of hefty allowances for lawmakers that triggered the protests, while ordering police and the military to take a firm response against unlawful acts.
“I call on all citizens to trust the government and remain calm,” the president said. “The government under my leadership is determined to always fight for the people’s interests, including those of the most vulnerable and marginalized.”
On Sunday night, local television reports showed several pockets of demonstrators, though no major violence. Even if the protests die down in the short term, they have exposed underlying tensions over persistent inequality that threaten to weigh on the nation’s growth prospects and financial markets. Indonesia’s equity benchmark slid 1.5 percent on Friday, the biggest decline in the world among national gauges tracked by Bloomberg.
The president’s response to the protests will test his commitment to fiscal constraint, seen by his promises in August to narrow the budget deficit even as he ramps up populist welfare measures. Indonesia’s markets have reacted negatively to any signs that he might open up the fiscal spigots or break ties with Indrawati, who is highly respected among investors for maintaining discipline in spending.
“If the protests worsen, pressure to increase overall government spending may rise,” said Peter Mumford, Southeast Asia practice head at risk consultancy Eurasia Group. For Prabowo, the protests strike at the heart of dueling tendencies for the 73-year-old former general: A strongman’s desire to increase the role of the state and the military, while also serving as a champion of the poor.
The president has poured billions of dollars into a raft of populist measures, including free school lunches and health check-ups. He also suspended a hike in the value-added tax and rolled out several stimulus measures, including cash handouts, rice aid and electricity discounts. Those moves boosted Prabowo’s
Tax strategy: Advance pricing agreement
Ipopularity to beyond 80% in polls conducted in January to mark his first 100 days in office. Still, no credible follow-up surveys have been done since.
“The public would want Prabowo to pivot from symbolic populism to substantive economic relief,” said Dedi Dinarto, senior associate at public policy advisory firm Global Counsel. “Free-meal programs would be seen as insufficient when people are struggling with fuel and food prices.”
At the same time, the president has installed the largest cabinet in Indonesia’s history with more than 100 members, increased the role of the military, boosted the state’s hand in business and effectively eliminated opposition in the parliament.
That created the conditions for protesters to hit the streets after lawmakers granted themselves new perks, including a monthly housing allowance of 50 million rupiah ($3,030)—nearly 10 times the monthly minimum wage in Jakarta.
Growing wealth gap
“STREET protests, which are now the one and only funnel of checks and balances for the government, will grow out of control only if the governing coalition continues to stay deaf to public grievances and blames protesters for the chaos,” said Achmad Sukarsono, an associate director at consultancy Control Risks.
Indonesia has maintained steady 5% economic growth over the past decade, but frustration has mounted as job cuts in the manufacturing sector erode the income of an alreadyshrinking middle class. More than 42,000 workers were officially laid off in the first half of this year, up 32 percent from a year ago, according to the Ministry of Manpower. Analysts say the actual number is likely much higher.
The wealth of the 50 richest individuals in Indonesia is equal to the total wealth of 50 million Indonesians, according to a report last year by the Jakarta-based Center of Economic and Law Studies. It found that about half of ride-hailing drivers, for instance, spent nearly all of their wages on daily expenses.
That is why Affan’s death particularly struck a chord. The untimely death of a young person who found himself in the wrong place at the wrong time fueled indignation.
Motorcycle taxis in Indonesia aren’t just a fixture of daily life, but also a common means of livelihood after persistent layoffs in the past few years, from the pandemic to the current trade war.
In one of the most striking images from the past week, thousands of drivers in their signature green jackets and helmets of ride-sharing platforms Grab and Gojek ushered the casket of Affan from his home to the cemetery. Hours afterward, the protests became bigger and more violent as Indonesians took to the streets to call for justice for the driver that many referred to as a “martyr.”
“The public is indeed very angry and upset with the behavior of the elite—hedonistic, frequently showing off on social media, and insensitive to the suffering of ordinary people, most of whom are struggling,” said Aditya Perdana, an associate professor at the University of Indonesia.
“This is what triggered such a strong, unexpected response, expressed in the form of looting,” he added. “If the president fails to address this serious situation soon, of course there could be other forms of protest emerging in the future.” With assistance from Norman Harsono and Grace Sihombing/Bloomberg
Atty. Jomel N. Manaig
TAX LAW FOR BUSINESS
N tax assessments, taxpayers are obligated to defend against issues and assumptions made in past years. It is only after the fact of the transaction, more often after several years, that an issue would be raised questioning it. But what if there is a way to agree in advance with the BIR how certain transactions are to be treated? Enter the Advance Pricing Agreement.
Advance Pricing Agreement, or APA, is an arrangement that determines, in advance of controlled transactions, an appropriate set of criteria for the determination of the transfer pricing for those transactions over a fixed period of time. The purpose and benefits of an APA has been recognized by the BIR as early as 2013. While it took a very long time to get here, we are now at the cusp of implementing it after the BIR issued its draft Revenue Regulations. To be clear, Advance Pricing Agreements are not for everybody. Not all taxpayers may avail themselves of it and not all business transactions may be covered. But to those that are eligible and may be covered, it would offer a level of tax certainty that is comparable with a tax ruling. The Revenue Regulation for APAs is not yet final so we will not delve too much into the details. But let’s go over some basic questions for us to get to know the basics of APA and to get a sense of how the BIR plans to implement it.
What are the types of APAs?
Depending on the related parties involved, taxpayers may either seek a Unilateral APA (UAPA), a Bilateral APA (BAPA), or a Multilateral APA (MAPA). UAPAs may be resorted to by taxpayers with transactions with related party/ies in the Philippines or in foreign countries that are not treaty partners. On the other hand, a BAPA is generally resorted to if the transacting related parties are in the Philippines and in a foreign jurisdiction that is a tax treaty partner. Lastly, MAPA is similar to BAPA but there is more than one tax treaty partner involved. In both BAPA and MAPA, the involvement of the tax authority of the foreign country is necessary. Why are foreign tax authorities involved in BAPA or MAPA? This is to prevent double taxation in instances wherein the transacting related parties are in different jurisdictions. Tax treaty partners are bound to respect and implement the provisions of the APA in their respective jurisdictions. Who stands to benefit From APAs? Basically, taxpayers with re-
To be clear, Advance Pricing Agreements are not for everybody. Not all taxpayers may avail themselves of it and not all business transactions may be covered. But to those that are eligible and may be covered, it would offer a level of tax certainty that is comparable with a tax ruling.
lated party transactions, preferably those with complex related party transactions, will benefit from an APA. Instead of defending adopted transfer pricing policies in a tax audit, taxpayers may now agree with the BIR as to the proper transfer pricing for a fixed period. It provides tax certainty and stability in related party transactions.
Is the APA mandatory for all taxpayers with related party transactions? No. The APA is purely voluntary. Eligible taxpayers may or may not avail themselves of the APA. Simply put, the APA is just an opportunity, not a requirement.
Are taxpayers availing of APA now relieved from doing transfer pricing analysis? No. While APAs are intended to provide transfer pricing certainty, taxpayers are still required to do the transfer pricing analysis for their related party transactions. This is because the APA application itself would require taxpayers to conduct a transfer pricing analysis as a pre-requisite. In addition, a transfer pricing analysis may be necessary to determine compliance with the terms of the APA.
Is the BIR required to accept the transfer pricing adopted by
A €2 trillion Dutch pension headache is coming for
European bonds
By Alice Gledhill & Alice Atkins
THERE’S a near €2 trillion ($2.3 trillion) upheaval coming for European bond markets to cap a 2025 already marked by tariff twists and turns, deficit worries and now a political crisis in France.
The storm is centered on a long-planned reform of the Dutch pension system, the European Union’s biggest. It’s already pushing up yields on longer-dated bonds and traders are positioning for volatility in the euro swaps market, which the funds use for hedging. Things could become more extreme at the turn of the year, when a large tranche of funds are set to transition, due to lower liquidity at that time.
The Dutch central bank warned earlier this year of a risk to financial stability, and the complexity of the underlying mechanics means it’s hard to get a grasp on the extent of any disruption.
Asset managers including BlackRock Inc. and Aviva Investors are recommending caution when it comes to the long-end of the yield curve, favoring shorterdated tenors. For others, including JPMorgan Asset Management, the issue is helping to make US Treasuries look more attractive than European government bonds.
“There are so many unknowns and moving parts,” said Ales Koutny, head of international rates at Vanguard. “Everybody knows that the event is there, but nobody knows what the final outcome is going to be. Everybody’s just trying their best to position for it.”
The revamp is intended to help cope with an aging population and changing labor market.
While the Netherlands accounts for just 7 percent of the euro-area economy, the pension system is an outsize market player. It has more than half of all pension savings in the bloc, according to European Central Bank data. Its European bond
holdings total almost €300 billion.
Volatility
IN recent weeks, a gauge of future volatility in 30-year euro swaps has picked up, which ING Group NV strategists say is partly down to the transition. The shift is also affecting euro funding costs.
These ripples stem from changes in the way Dutch retirement funds protect their portfolios against fluctuations in interest rates. Until now, they’ve relied heavily on longdated swaps to ensure they have enough cash to pay pensioners down the line, irrespective of what happens to borrowing costs.
Under the switch to so-called life-cycle investing, younger workers will be more heavily invested in riskier assets like stocks, with less need for these long-dated hedges. Older members’ savings will be skewed toward safer securities like bonds, but the corresponding hedges will also shorten.
About 36 funds are scheduled to switch to the new system on January 1, with the rest following in tranches every six months until January 2028. With the first big wave seeking to unwind their hedges en masse at a time when liquidity is typically poor, investment banks and brokers may struggle to match up sellers and buyers, gumming up the system.
The supply-demand imbalance for longer-dated swaps is already significant. With a pipeline of pension funds needing to unwind swap positions, market players such as hedge funds seeking to profit could let this play out before stepping in to take the other
the taxpayer? No. The BIR will evaluate if the transfer pricing adopted by the taxpayer follows the arm’s length principle. If compensating adjustments are necessary, it would be indicated in the terms of the APA which the taxpayer may agree to or not.
How long is an APA valid for?
If a taxpayer agrees with the terms of the APA as laid down by the BIR, the APA will be issued and will generally be valid for a limited period of five years. Renewals of the APA may be applied for by the taxpayer. Are APA applications free? Unfortunately, no. APA applications are not free. Aside from the initial application fee, additional fees may be charged to the taxpayer to defray travel costs and to secure the services of an independent consultant, appraiser, or valuator. If APA is something new to you, make no mistake. Is it tedious? Yes. Is it expensive? Very likely. Is it difficult? I bet it is. But, if done right, APAs may be a new tool for corporations to manage tax risk and avoid laborious assessment protests and costly litigation. From the eyes of a tax professional, it may very well be a tax strategy worth exploring.
The author is a partner of Du-Baladad and Associates Law Offices (BDB Law) (www.bdblaw. com.ph).
The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at jomel.manaig@ bdblaw.com.ph or call 8403-2001 local 140.
While the Netherlands accounts for just 7 percent of the euro-area economy, the pension system is an outsize market player. It has more than half of all pension savings in the bloc, according to European Central Bank data. Its European bond holdings total almost €300 billion.
side of the trade. That could lead to a rapid steepening in the curve, said Rohan Khanna, head of European Rates Research at Barclays Plc.
How it unfolds in January is “anybody’s guess, but the nervousness is going to be very high,” Khanna said. “The market can become illiquid or jumpy in such situations.”
Complicating preparations is a political crisis in The Netherlands, where there will be a snap election after the collapse this summer of both the government and a caretaker administration that followed it. Among those that quit was Social Affairs Minister Eddy van Hijum, who was in charge of the transition. He was expected to give pension funds an extra year to reduce their interest-rate hedges once they’ve transitioned. That plan is unlikely to be affected, though a parliamentary debate on pensions scheduled for this week might be postponed, a spokesperson for the ministry said.
Debt demand
THERE’S also a question over what this turn-of-the-year move will do to demand for long-dated debt, with January typically one of the busiest periods for new bond sales.
Yields on German and French 30-year debt have risen for the past four months and are trading close to multi-year highs as fiscal tensions ramp up. France has been thrust into yet another political crisis over its budget, and the government may be toppled this month.
ABN Amro estimates that the pension sector’s largest exposures are in German, French and D utch debt, and the drop in demand may put pressure on governments to switch toward shorter maturities, according to strategists including Sonia Renoult. That could leave them more exposed to interest-rate volatility as they are forced into refinancing their debt more frequently.
Investors like Steve Ryder, who helps run €8.3 billion in fixed income assets at Aviva, say they’ll avoid any exposure to longer-dated European bonds at the end of the year, given the likelihood for choppiness.
“If everyone transitions at the same time it would become a bit of a hot potato for the dealers that have to take on the risk,” he said.
There are some mitigating factors. Pension funds may start to unwind long-dated hedges ahead of time, reducing the risk of bottlenecks, if they’re confident they’ve got enough of a buffer to absorb potential losses.
There is also the one-year adjustment period the government is granting for hedges. However, the longer pension funds take, the longer they would be overhedged, which is particularly relevant for younger workers.
The Dutch central bank said it will continue to monitor the transition but is confident that the one-year period “provides pension funds with sufficient flexibility to adjust their portfolios in an orderly manner.”
Many trading desks remain anxious and expect things to move quickly at the turn of the year.
“We still think the transition will be front-loaded,” said Pierre Hauviller, director of pensions and insurance structuring at Deutsche Bank AG, adding that markets are positioning for this. “Volatility trades in early January are already very crowded.” With assistance from Patrick Van Oosterom/Bloomberg
Tuesday, September 2, 2025
‘Govt food-related schemes vital to blunt supply shocks’
By Cai U. Ordinario @caiordinario
THEgovernment has rolled out various food-related interventions for the Bottom 30 percent of the population in recent years as they continue to be the hardest hit by high commodity prices, according to the economic team.
Based on data from the Philippine Statistics Authority (PSA), food accounts for 34.78 percent of the Consumer Price Index (CPI) for All Income Households while the same commodity has a weight of 51.38 percent of the basket of goods for the poorest Filipinos. Department of Economy, Planning, and Development (DEPDev)
Undersecretary Rosemarie G. Edillon said these programs include the “murang bigas” program as well as cheap food items being offered by Kadiwa stores and the food stamp program dubbed “Walang Gutom.”
“Of course over the medium term, the more robust intervention is to improve the productivity of agriculture [but as of now, the ones we are urgently attending to are] the needs of the most affected, meaning the very poor, Mr. Chair,” Edillon said, partly in Filipino. BSP Governor Eli M. Remolona Jr. added that bringing down the price of commodities is easier said than done. He said that while inflation has been kept low this year, Filipinos would always consider the price level of actual commodities. He said if certain commodities
are now priced at P20, or P5 higher than the P15 price level recorded the previous year, most Filipinos would not be able to reconcile the slowdown in inflation and the increase in the actual level of prices.
Remolona also said the government is monitoring the inflation experienced by the Bottom 30 percent households. Under the Consumer Price Index (CPI) for the Bottom 30 percent, food has a greater weight compared to the CPI of All Income Households, making the poorest more sensitive to food price increases.
Gusto nilang bumalik dun sa mababa. So medyo mahirap yun. Pero pinag-iisipan pa namin pero alam namin yung hirap nung Bottom 30 percent,” Remolona said.
Remolona stressed that the focus on food, especially rice prices, is crucial since these are the commodities often affected by supply shocks.
It may be noted that some of these supply shocks include the impact of typhoons on the agriculture sector as well as logistics problems that affect the supply chain.
“In the face of these supply shocks, we compensated on the
demand side so that for the entire consumer basket inflation will be low,” Remolona explained, speaking partly in Filipino.
Meanwhile, on the part of the BSP, Remolona said the recent monetary policy actions of the Monetary Board have not led to faster inflation because the reduction in policy rates have been gradual.
Since it began its monetary easing last year, the central bank has reduced policy rates by 150 basis points. In August, the BSP delivered a 25 basis point rate cut which brought down key policy rates to a “Goldilocks” rate of 5 percent.
Remolona said the reduction in policy rates boosts domestic consumption, which is a key driver of the Philippine economy.
“What we did over the past few years is to aggressively raise the policy rate when we were faced with the initial surge of inflation,” Remolona said. “This lowering of the policy rate stimulates demand, it helps the economy grow, and because we did it in a very measured approach, it hasn’t led to inflation.”
Looking forward, Remolona said the BSP expects inflation to remain
MANILA CONFERENCE BARES ALARMING SEAFARER ABUSE
By Malou Talosig-Bartolome
THE International Conference on Seafarers’ Human Rights, Safety, and Well-Being opened Monday with a sobering assessment of the global maritime workforce: the 1.9 million men and women who keep global trade moving are increasingly exposed to exploitation, neglect, and violence.
From abandonment and unpaid wages to harassment and criminalization, seafarers are bearing the brunt of systemic failures across the shipping industry. Their plight, officials warned, is not only a human rights emergency—it is a threat to the stability of global supply chains.
The Philippines, which supplies nearly 30 percent of the world’s seafarers, hosted the landmark gathering, affirming its role as a maritime labor powerhouse and a leading voice in global maritime governance.
“Without seafarers, there’s no shipping. No shipping means no shopping and no global trade,” said Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), in a video message during the opening ceremony.
International Labour Organization (ILO) Director-General
Gilbert Houngbo presented alarming data: 312 cases of seafarer abandonment were recorded in 2024, and 213 more have already emerged this year. These incidents often leave crews stranded at sea—without wages, food, medical care, or a way home.
UN High Commissioner for Human Rights Volker Türk flagged a troubling pattern: many of these cases involve vessels flying socalled “flags of convenience”— registrations in countries with weak labor enforcement and minimal oversight. These flags offer shipowners a loophole to evade accountability, leaving crews vulnerable to exploitation. “Nearly three-quarters of abandoned ships this year were flying these flags,” Türk said. Beyond abandonment, speakers cited a web of abuses that continue to plague the industry: Seafarers forced to work beyond legal contract limits Bullying, sexual harassment, and assault onboard Criminalization of crews for actions beyond their control • Mental health neglect and lack of access to welfare services Gender discrimination and unsafe conditions for women seafarers
By Jovee Marie N. Dela Cruz
in housing, saying every peso poured into the sector benefits at least 57 other industries.
Benitez pointed out. The DHSUD was allocated P6.5 billion for 2025, but its budget is expected to decline to P5.5 billion in 2026. DHSUD Secretary Jose Ramon Aliling responded that the agency’s targets rely heavily on private developers, alongside funding support from the National Housing Authority (NHA) and the Social Housing Finance Corporation (SHFC).
“For direct housing production, aside from what we received from the General Appropriations Act, NHA, and SHFC, we really rely on the private sector to produce the inventory of socialized housing,” Aliling said. From its original goal of six million units by 2028, the 4PH program has scaled down its targets to 1.19 million housing units due to budgetary and implementation challenges. According to DHSUD data, direct housing aims to produce 419,911 units by 2028, with DHSUD itself expected to deliver 301,040, NHA with 83,202, and SHFC with 35,669; while indirect housing through loans and mortgages is projected to finance 776,809 units, with PagIBIG Fund carrying the bulk at 751,494
“So that is my position, that there should be more funds given to the housing department because it makes economic sense. Once we give a home to every Filipino family, it changes their mindset and livelihood,” Benitez said. He suggested that Congress review DHSUD’s current budget allocation and consider transferring funds from the Department of Public Works and Highways (DPWH) to housing.
“In other countries, the Philippines is way behind in allocating resources for housing. Maybe some of those projects in DPWH can be transferred to the housing industry because it doesn’t just make economic sense, it also makes a lot of sense,” Benitez stressed.
The Pambansang Pabahay para sa Pilipino (4PH) has fallen short of its ambitious goals after encountering major implementation setbacks, forcing authorities to scale down targets from six million units to just 1.2 million by 2028.
Initially introduced in 2022 and formally launched in 2023, the program was envisioned as a centerpiece of the government’s housing agenda. However, delayed funding, regulatory bottlenecks, lukewarm developer participation, and weak support from some local government units (LGUs) undermined its early rollout.
The DHSUD admitted that the program’s reliance on a “single modality” left little room for flexibility in project execution. Funding support, which only came in 2024, arrived nearly two years after the program’s launch, stalling implementation in its critical start-up phase.
The agency cited uncertain budget allocations and difficulty sustaining the interest subsidy for beneficiaries as key reasons for the adjustment.
Compounding the problem were tedious licensing and permitting processes, which slowed down projects across multiple sites.
Private developers had difficulty meeting requirements for permits, licenses, equity, and borrowing capacity—factors that delayed project initiation. Market uncertainties and limited demand from prospective beneficiaries also discouraged wider private sector participation.
At
By Samuel P. Medenilla
MALACAÑANG has said it will be working with Congress to “cleanse” the P6.793-trillion 2026 National Expenditure Program (NEP) from unauthorized insertions.
In an interview with reporters at the sidelines of the Turismo Asenso Loan Awarding Ceremony in Pasay City last Monday, President Ferdinand Marcos Jr. said they found unnecessary allocations in the 2026 NEP after they reviewed its provisions.
“Unfortunately, the more we look [at the 2026 NEP], the more [insertions] we find. Even in the 2026 budget, a lot was still inserted,” the chief executive said in Filipino.
Marcos made the remark after Deputy Speaker Ronaldo Puno and Marikina 1st first district Representative Marcelino Teodoro disclosed last week they found that the 2026 NEP contained allocations from completed infrastructure projects.
Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman also expressed her frustration after learning of the said allocations since it took them at least six months to prepare the 2026 NEP.
While it was DBM which submitted the 2026 NEP to Congress, she said it is not the mandate of her agency to “check line-by-line” the proposed budget of DPWH next year.
However, she said she is now working with newly appointed DPWH Secretary Vivencio “Vince” B. Dizon to make sure similar insertions will no longer happen in the future.
Palace Press Officer Claire Castro said Malacañang will cooperate with lawmakers to remedy the situation during the ongoing budget deliberations in Congress.
“That is why we’re having a budget hearing so that the executive department can inform [Congress] that this [budget allocation] shouldn’t be included, or should be included,” she said in Filipino in a press briefing with Palace reporters on Monday.
She urged lawmakers not to be “judgmental” and conclude there are immediate anomalies in the proposed budget next year. Instead, she said they should ask the concerned government agency, the DPWH, to verify if the cited infrastructure were already completed.
“And if it will proven it is actually completed and it is included in the 2026 budget, the President will not allow it. We have heard that the President is angry and does not want anything else to be included in the budget because this budget is for the people and for projects for the
Editor: Jennifer A. Ng
By Lenie Lectura @llectura
THE Energy Regulatory Commission (ERC) wants to streamline the application process for ancillary services procurement agreements (ASPAs) to ensure the timely implementation of the contracts.
ASPAs are defined under the Electric Power Industry Reform Act of 2001 as “services that are necessary to support the transmission of capacity and energy from resources to loads while maintaining reliable operation of the transmission system.”
The ASPAs are procured via competitive selection process (CSP) or direct negotiation between the National Grid Corporation of the Phil-
ippines (NGCP) and the AS provider.
“At present, there are no rules to govern how we will evaluate these ASPAs that are submitted to us for review and approval. We’re proposing to adopt one and we will base our approval on the results of the CSP,” said ERC chairman Francis Saturnino Juan.
Under the current setup, the ERC evaluates the ASPAs that have undergone CSP. More often than
not, the ERC still changes the rates after evaluation, discouraging the parties and only compels NGCP to source AS from the reserve market.
Through the reserve market, the NGCP buys power reserves to meet the reserve requirements of the system.
Juan proposed that ASPAs that have undergone CSPs should be deemed approved as competitively priced and least cost, and ERC should proceed to review the non-rate related terms and conditions of the ASPA.
“There are ASPAs that are not being used by SO [system operator] because ERC is cutting the rate too much. As such, NGCP is still sourcing more from the reserve market, which is more expensive than if the ASPA, which underwent CSP, was implemented.”
As for ASPAs resulting from direct negotiation, the ERC will proceed to review their “reasonableness” in terms of costs, risk
allocation, and other contractual terms to ensure NGCP’s compliance with its obligation to procure costeffective and least cost AS. This means that said ASPAs are subject to the ERC’s final determination of applicable rate.
“The ERC will still review it based on the ASPA’s submitted costs,” Juan said.
The proposed modification is expected to encourage broader participation in AS CSP, encourage investments through the contracting of AS requirements, streamline the approval for ASPA applications, and protect public interest by ensuring cost-effective and least-cost provision of AS.
Juan said the proposal still complies with the AS CSP policy of the Department of Energy.
There will be a public consultation within the month to solicit comments from industry stakeholders.
ERC: New rules to hasten approval of AS contracts Manila Water fortifies Balara plant
By Jonathan L. Mayuga @jonlmayuga
MANILA Water said Monday its key infrastructure projects in the Balara Compound are designed to withstand the impacts of natural disasters and ensure uninterrupted operations.
The company stated that these initiatives, scheduled for completion in 2025, address urgent repair needs and enhance the company’s ability to deliver essential services even in times of crisis.
One of the priority projects is the installation of a sturdier concrete fence at the Novaliches-Balara Aqueduct 4 (NBAQ4) facility in Balara Compound. Recent typhoons have
underscored the vulnerability of critical water network infrastructure. To mitigate this, the company has allocated a budget of P2.7 million to fortify the perimeter’s structural integrity and enhance the facility’s security. The project was completed last April.
Inaugurated in 2023, Manila Water’s P5.6-billion NBAQ4 project delivers up to 1,000 million liters of water daily from La Mesa Dam to Balara via a 7.3-kilometer tunnel beneath Commonwealth Avenue. As the country’s first urban aqueduct built using a tunnel boring machine, NBAQ4 enables the rehabilitation of aging aqueducts and ensures an uninterrupted water supply for over 7.8 million East Zone customers. Also underway is the construc-
tion of a new perimeter fence at the NOVABALA Project Site along Tandang Sora, Quezon City. The site houses former NBAQ4 contractor facilities including project materials and equipment.
The initiative will establish a fortified boundary to prevent unauthorized access and improve site safety. The planned structure includes a 2 to 2.5-meter-high concrete hollow block (CHB) fence topped with a 0.5-meter concertina wire.
With a total budget of P21 million, the project also includes preparatory works, removal of the existing fence, installation of perimeter lighting, and construction of the new fencing. Completion is expected by the third quarter of 2025.
“We view these projects more than just physical upgrades; they are forward-looking investments in resilience and reliability. As we face increasing threats from natural disasters, we must ensure our facilities are secure and our services remain uninterrupted,” Jeric Sevilla, Manila Water’s Communication Affairs Group Director, said in a statement.
The company said these infrastructure upgrades are part of Manila Water’s “proactive approach” to disaster preparedness and operational resilience.
“By investing in durable, secure, and efficient facilities, the company ensures that its services remain reliable and its communities protected, no matter the challenges ahead.”
Alibaba’s AI revenue surge triggers $50-B stock rally
ALIBABA Group Holding Ltd.’s stock leapt more than 19 percent after reporting a surge in revenue from AI, underscoring the steady headway it’s making against rivals in a post-DeepSeek Chinese development frenzy.
China’s e-commerce leader posted a triple-digit percentage gain in AIrelated product revenue as well as a better-than-anticipated 26-percent jump in sales from the cloud division-the business most closely tied to the artificial intelligence boom. That helped assuage investors nervous about the fallout from a worsening battle with Meituan and JD.com Inc. in internet commerce.
Alibaba’s shares gained their most intraday since November 2022 in Hong Kong, boosting the company’s market value by more than $50 billion. Turnover in the stock marked a record high as of early afternoon. The rally helped energize the broader AI sphere: Ernie-developer Baidu Inc. gained as much as 5.8 percent, while Tencent Holdings Ltd. also climbed.
“Alibaba’s earnings underscore a bifurcation within China tech: AI is delivering scalable growth, while traditional consumer-facing segments remain mired in destructive price competition,” said Charu Chanana, chief investment strategist at Saxo Markets.
“The triple-digit surge in AI revenue and robust cloud sales show
Alibaba is repositioning for longerterm relevance in the tech stack, not just retail dominance,” she added. Alibaba’s progress in AI — where it is considered among the frontrunners in Chinese artificial intelligence development—helped gloss over concerns about the three-way battle gripping online commerce. That dealt more damage than anticipated to some of the country’s ecommerce leaders: JD’s profit halved in the quarter while Meituan warned of major losses, triggering a $27 billion selloff of the three companies’ shares last week.
The AI element helps explain why Alibaba’s stock has easily outpaced
its more commerce-reliant rivals this year. Alibaba has also leveraged the growth of an international arm that encompasses some of the world’s most-recognized online shopping platforms from Lazada to AliExpress.
It has “China’s best AI enabler thesis,” Morgan Stanley analysts including Gary Yu wrote in a research note. That’s as losses from meal delivery and instant commerce peak this quarter, they said. Investors are now focused on whether Alibaba will pursue that margin-eroding competition, at a time it’s declared record amounts of spending toward developing AI
services and computing.
On Friday, commerce chief Jiang Fan argued that investments in quick commerce — food delivery and instant shopping — had already driven 20 percent growth in users on its main Taobao marketplace.
The fledgling division has in four months grown to the point that it can begin to achieve economies of scale, he added.
Alibaba is simultaneously making substantial investments in the AI field, developing large language models to avoid falling behind in a critical technological race.
The company views AI as essential to its future, whether in terms of providing cloud computing, powering its core business or coming up with services to challenge OpenAI and DeepSeek. CEO Eddie Wu went as far as saying in February that artificial general intelligence, or AGI, is now the company’s primary objective.
Just last week, Alibaba updated its own open-source video generating model, part of a string of recent upgrades that span the gamut from agentic AI services to chatbots.
It remains to be seen if Alibaba can turn AI into a money-spinner in an increasingly competitive field. From Baidu to Tencent, Chinese firms are enhancing and releasing AI models at a frenetic pace, increasing the pressure on Alibaba to deliver breakthroughs. Bloomberg News
By Bless Aubrey Ogerio @blessogerio
LOCAL manufacturers will need to show how waste is reused or turned into a new product if they are to meet tightening sustainability standards in the global market, Science and Technology Secretary Renato Solidum Jr. said.
Speaking at the launch of Sustainability Expo (SUSTEX) 2025 in Taguig last Friday, Solidum noted that while environmental compliance has long been part of trade requirements, industries are now being pressed to embed circular economy practices in production.
“The common standard that we push is instead of throwing waste, it should be reused, its life should be prolonged, and eventually it will be made into a product that can be sold. That is now the indicator,” he said in a media forum.
The chief of the Department of Science and Technology (DOST) added that the Philippines is still in the early stages of this shift compared to some of its Southeast Asian neighbors, which are branding themselves as sustainability hubs.
“From DOST’s point of view, we are just beginning. Because if you talk about sustainability, it’s not only the discipline and practice
By Lorenz S. Marasigan @lorenzmarasigan
GLOBE Telecom Inc. said on Monday it is ramping up its network rollout across Metro Manila, building new cell sites and upgrading existing facilities to meet the growing connectivity demands of the capital’s more than 13 million residents.
The Ayala-led telco said its latest builds are concentrated in highdensity areas such as schools, major roads, and residential communities, ensuring that students, workers, entrepreneurs, and families alike benefit from internet access.
“Metro Manila is always on the move, and connectivity has to keep up. Globe is building new sites and boosting capacity where people learn, work, and live to make sure our network can meet real, everyday demands not just today, but in the years to come,” said Joel Agustin, SVP for Network Planning and Engineering.
Quezon City, home to nearly three million residents and several top universities, is a focal point of Globe’s recent push. New towers have risen in San Agustin, Bagong Silangan, Doña Imelda, Pasong Putik, and Loyola
but also innovation. And from the DOST side, we are just starting to develop this program,” he said in the vernacular.
Across Asean, countries are pursuing green development through initiatives such as the Asean Green Initiative and the Asean Biodiversity Plan, both aimed at ecosystem restoration and sustainable management. The region is also building green finance hubs to support infrastructure and investment aligned with sustainability goals. Furthermore, the DOST said it is assisting local industries through research and innovation programs to help them meet these evolving standards.
Its Industrial Technology Development Institute has been developing natural textile dyes, cassavabased bioplastics, and biodegradable packaging options.
In terms of funding, the department is also set to receive a higher national allocation in 2026, with P30.4 billion earmarked for research, development and commercialization.
Benchmarks PRIVATE sector representatives echoed the need to comply with certifications recognized abroad.
Continued on B2
Heights, providing stronger coverage in education and community hubs. Makati and Taguig, two of the metropolis’ business districts, are also getting enhanced connectivity. Globe said new sites in Guadalupe Nuevo, Pio del Pilar, Napindan, Lower Bicutan, and Bonifacio Global City will support the increasing number of professionals, startups, and students who rely on the internet for work and collaboration.
In Parañaque, the company has bolstered its network in Pacific Avenue and Barangay Don Bosco to sustain network performance amid rising digital traffic from households, small businesses, and remote workers.
Beyond these focus areas, Globe is also carrying out targeted upgrades in Caloocan, Las Piñas, Marikina, Malabon, Mandaluyong, Manila, Muntinlupa, Navotas, Pasay, Pasig, San Juan, and Valenzuela. These cover schools, transport hubs, commercial centers, and residential communities.
Agustin said by investing in “stronger, more resilient infrastructure,” the company “is not only keeping pace with the demands of the digital era but is also actively shaping it.”
PHOTO FROM PHILIPPINE NEWS AGENCY
ALIBABA Group Holding Ltd. headquarters in Hangzhou. PHOTOGRAPHER: QILAI SHEN/BLOOMBERG
Banking&Finance
Govt offers loans to tourism-related MSMEs
By Samuel P. Medenilla @sam_medenilla & Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror
PRESIDENT Ferdinand R. Marcos Jr. said the new government low-interest financial support for tourism-related micro, small and medium enterprise (MSME) will help promote the country’s “experiential tourism” to foreign tourists.
The country’s chief executive led the distribution of the “Turismo Asenso” loan program (TALP) of the Department of Tourism (DOT), Department of Trade and Industry (DTI) and the Small Business Corp. (SBCorp) last Monday in Pasay City to help expand the operations of the said MSMEs.
Around P3 million worth of loan packages were distributed to qualified beneficiaries from Metro Manila and Calabarzon during the event. The loans ranged from P150,000 to P 1 million.
The loan checks were awarded
by the president to Reluxx Body and Wellness Spa, Pressure Point Wellness and Spa, S.E.AL Travel and Tours, Robles Resort, Imassage De Cavite Wellness Spa, Sense Body Massage Spa, Lavmemar Travel and Tours, Landsafe Travel and Tours Agency, and Silverscape Travel and Tours. In his speech in the distribution ceremony, Marcos highlighted the role of MSMEs to enhance the experience foreign tourists by allowing them to engage in meaningful activities to make them experience the local culture and lifestyle.
“In every ‘Welcome and Mabu-
Why you should invest outside the Philippines
HAVE you ever wondered if your money can grow faster somewhere else? While investing in the Philippines is a good start, looking beyond our borders is also smart.
Many beginners and experienced Filipino investors are now adding international investments to their portfolios. Why? Because putting all your eggs in one basket isn’t always the best idea. Let’s discuss why investing outside the Philippines could be one of your smartest money moves.
1. Diversification = Less risk. When you invest only in local stocks or real estate, your money is tied to the performance of the Philippine economy. If our market struggles or the peso weakens, your investments could suffer. But you spread out your risk when you add international investments—like US stocks, global ETFs, or funds from other growing economies.
Think of it like this: if one country’s market dips, others might stay strong or grow. Diversifying across different countries and industries helps protect your money from local economic downturns.
2. Access to bigger and more stable markets. The Philippine Stock Exchange has just a few hundred listed companies. Compare that to thousands of choices in the US or global markets— companies like Apple, Amazon, Google, and Tesla. These global giants have strong earnings, international reach, and long-term growth potential. By investing outside the Philippines, you can access some of the world’s biggest and most innovative companies—many of which aren’t available locally.
3. Hedge against peso depreciation. Let’s face it—the Philippine peso tends to weaken against major currencies like the US dollar over time. When you invest in dollar-based assets, your money can grow from the investment itself and currency gains. That means if the peso drops in value, your foreign investments might increase in worth when converted back to pesos. This is a smart way to protect the value of your savings in the long run.
4. More growth opportunities. Some international markets grow faster or offer better returns than the Philippines. Countries like
hay’ spoken by a tour guide, in every home-cooked meal served in a local eatery, and in every service delivered with a smile—you are there, our local tourism entrepreneurs. You are the ones who keep the tourism industry alive and help our communities grow,” he said in Filipino.
“What they call this is experiential tourism. It’s not just about sitting on the beach and sunbathing or just eating and drinking. They need to go somewhere. They need to see a new culture. They need to see a place that they don’t see anywhere else,” Marcos added. “Therefore, the government continues to promote programs that support you,” he added addressing the tourism stakeholders, who were present at the event.
The President recognized the role of tourism workers and stakeholders in promoting the country’s tourism industry.
Launched last July, the TALP provides up to P20 million low-interest financing to MSMEs with an interest rate of 1 percent monthly on a diminishing basis. It also grants non-collateral loans up to P3 million for new borrowers and P5 million for existing ones.
The TALP complements the other government initiatives to provide
Fitz Gerard Villafuerte
PERSONAL FINANCE
the US, India, China, and even certain European nations have booming sectors, such as technology, healthcare, and clean energy. If you want to ride these global trends, you need to invest outside our local market.
5. Future-proofing your wealth. Holding assets in foreign currencies makes sense if you plan to migrate, send your kids to school abroad, or retire in another country someday. It’s also easier to manage expenses overseas if some of your investments already earn in dollars or euros. Plus, if you ever need to make big purchases in the future—like buying property abroad—you won’t be as affected by peso-dollar exchange rates.
So, how do you get started? The good news is you don’t need millions to invest globally. Filipinos now have access to dollardenominated mutual funds, feeder funds, and exchange-traded funds (ETFs) through local banks and investment platforms. Some platforms even let you buy fractional shares of big US companies for as little as $1. Start small. Choose a fund or company you understand, and gradually grow your international portfolio.
Final thoughts
INVESTING outside the Philippines isn’t about giving up on our country but being smart with your money. Global investments give you more options, protection, and chances to grow wealth over time. Whether you’re saving for retirement, your child’s education, or financial freedom, having international exposure can help you get there faster.
So, take a look at your portfolio. If everything’s local, it might be time to go global.
Fitz Villafuerte is a Registered Financial Planner of RFP Philippines. The views he expressed in this article do not necessarily reflect those of the BusinessMirror’s. To learn more about personal financial planning, attend the 113th RFP program this September 2025. E-
more opportunities to tourism-related MSMEs, by promoting their products including their Negosyo Centers, Go Lokal!, Tourist Rest Areas and trade fairs.
Marcos instructed the DTI, DOT and SBCorp to expand the coverage of TALP to include firms especially those in far-flung areas “to revitalize the country’s tourism industry, generate jobs and drive inclusive economic growth.”
He also led in providing training and financial aid to tourism-establishments in Baler, Aurora, which were affected by tropical cyclones Nika (international name: Toraji), Ofel (Usagi) and Pepito (Man-Yi) last year through DOT’s Bayanihan sa “Bukas na May Pag-asa sa Turismo” (BBMT) program.
Around 1,200 tourism workers in the typhoon-hit areas Baler, received aid under the BBMT last Monday.
The affected tourism workers also received Emergency Cash Transfer worth P11,250 from the Department of Social Welfare and Development (DSWD). They can also can avail of training in beads and artwork, bakery and pastry, fun farm tour product development, tourism awareness and tourist reception seminars and other livelihood opportunities.
The BBMT already benefitted 2,800 Filipinos in the Davao Region, Agusan del Sur and Oriental Mindoro in the last two years.
“With the help of this BBMT, we can promote the local economy, showcase the wealth of our culture and provide more opportunities for development in the tourism sector,” Marcos said in Filipino.
This is the second time DTI and DOT collaborated on extending loans to the tourism sector through SB Corp., the first time having been done during the pandemic in an effort to keep tourism stakeholders operating and paying their employees. As of November 30, 2022, only P329 million worth of loans to 735 tourism enterprises were released by SBCorp. out of the P4 billion allocated loan funds allocated for travel and tourism-related activities (CARES for Travel).
SBCorp has yet to report if these loans had already been repaid or if more loans had been approved after November 2022. There was a slow uptake on tourism loans then due to what stakeholders had said were difficult loan terms, considering many of them were not earning due to the closure of the Philippines to international travel.
The Philippine Statistics Author-
ity recorded 40,815 tourism-related establishments under its 2020 Survey of Tourism Establishments, and recorded 134,046 Accommodation and Food Services sector MSMEs in 2020.
For her part, Trade Secretary Christina Aldeguer-Roque said, “The instruction of our President is clear: make sure that MSME loans are made accessible to all enterprises that need them, so they can uplift their businesses. Through the Turismo Asenso Loan Program, we are addressing this financing gap with concrete, accessible, and affordable loan packages— for micro enterprises, for first-time borrowers, and of course, for loyal SB Corp. borrowers.” In a mix of Visayan and English, Tourism Secretary Christina Garcia Frasco thanked the President for his continued support to the industry.
“Mr. President, we extend our profound gratitude for your steadfast support and dedicated care for our tourism sector. We are deeply thankful for your unwavering commitment to its protection and continued strengthening.”
Tourism contributes 8.9 percent to the economy, as expressed in the gross domestic product, and employs over 6.75 million Filipinos.
About half of allotment for ’25 has been obligated—DBM
By Reine Juvierre Alberto @reine_alberto
ABOUT half of the P6.257trillion allotment for 2025 has been obligated as of the first half of the year, according to the Department of Budget and Management.
During the Cabinet-level Development Budget Coordination Committee’s briefing to the Senate Committee on Finance last Monday, Budget Secretary Amenah F. Pangandaman said 56.1 percent, or P3.509 trillion, of the P6.257-trillion allotment has been obligated from the FY 2025 National Budget and FY 2024 Continuing Appropriations.
Of the amount, P4.304 trillion was released to national government agen-
cies, where 54.8 percent or P2.359 trillion had been obligated as of end-June.
“The DBM will continue to closely monitor budget utilization and proactively implement measures to improve budget execution and public service delivery,” Pangandaman said.
Based on the DBM’s presentation, 56.6 percent of the P1.294 trillion allotted for special purpose funds (SPFs) has also been obligated. The actual obligation amounted to P732.62 billion as of end-June.
SPFs are budgetary allocations in the national budget meant for specific socio-economic purposes such as budgetary support to government corporations, allocation to LGUs, contingent fund, miscellaneous personnel benefits fund, national disaster risk reduction and
T-bill yields continue slip after key rate cut
YIELDS of Treasury bills (T-bills) slipped for the ninth straight week after the widely-expected reduction of the key policy rate to 5 percent last week.
The Bureau of the Treasury’s (BTr) auction committee made a full award of short-term debt papers worth P25 billion to investors on Monday’s public auction. Tenders for the T-bills reached P113.020 billion, or 4.5 times oversubscribed against the government’s programmed offer of P25 billion.
The 91-day T-bills fetched an average yield of 5.173 percent, which declined by 2.2 basis points (bps) from the 5.195 percent recorded in the previous auction for the same tenor last week. Yields ranged from a low of 5.080 percent to a high of 5.183 percent. Bids for the government securities amounted to P28.330 billion, or 3.3 times the offered amount, of which P8.5 billion was awarded. Meanwhile, the average yield of the 182-day T-bills also dropped by 7.5bps to 5.323 percent from last week’s 5.398 percent. Yields varied from 5.288 percent to 5.350 percent. Demands for the T-bills reached P47.774 billion, 5.6 times oversubscribed the P8.5 billion offering, which the auction committee fully awarded. Yields of the 364-day Tbills also averaged 5.457 percent, as rates ranged from 5.450 percent to 5.460 percent. The average yield fell by 6.5bps from 5.522 percent in the previous week.
Investors displayed strong demand for the T-bills, as tenders hit P49.390 billion, 5.4 times the P9billion offer awarded in full.
Average yields of the three tenors were all lower than the secondary benchmark rates. The Philippine Bloomberg Valuation (PHP BVAL) rates are 5.232 percent for the threemonth tenor, 5.392 percent for the
six-month debt paper and 5.536 percent for the one-year tenor as of September 1. Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), said the T-bill yields declined after the Bangko Sentral ng Pilipinas (BSP) decided to lower the key policy rate further to 5 percent. The Monetary Board on Thursday reduced the Target Reverse Repurchase (RRP) Rate by 25bps to 5 percent. The interest rates on the overnight deposit and lending facilities were adjusted to 4.5 percent and 5.5 percent, respectively. (See: https://businessmirror.com. ph/2025/08/29/bsp-brings-keyrates-to-goldilocks-zone/).
“That could further reduce borrowing costs/financing costs for the government, businesses, consumers, and for the overall economy; that also reduced the interest rate differential between the BSP (at 5.00 percent) and Fed rates (at 4.50 percent) to 50bps, the narrowest on record,” Ricafort said. BSP Governor and Chairman of the Monetary Board Eli M. Remolona Jr. said a rate cut could still be possible in the coming meetings, but would depend on how the economy performs, particularly in terms of domestic demand. The Monetary Board still has two more meetings this year—in October and December.
However, Ricafort noted that the upcoming local inflation data, to be announced on September 5, could slightly pick up but still be benign and still below the BSP’s inflation target of 2 to 4 percent.
“[This] could still justify future cut in BSP policy rates amid possible -0.25 Fed rate cut as early as the next Fed rate-setting meeting on September 17, 2025,” Ricafort added. Reine Juvierre S. Alberto
management fund and pension and gratuity fund.
Notably, state-run corporations posted a 100 percent obligation rate for their P153.92 billion allocation.
The obligation rate of allocation to local government units (LGUs) also reached 50.5 percent, or P572.86 billion of the P1.135 trillion allotment released.
Meanwhile, of the allotment releases for automatic appropriations, or appropriations programmed annually or for some other period prescribed by law, amounting to P657.55 billion, 63.4 percent have been obligated, or P417.09 billion. This includes P636.02 billion in allotment releases for interest payments, of which 65.2 percent or P414.82 billion have been obligated.
The government also freed up P21.53 billion for net lending, but the obligation rate only settled at 10.6 percent or P2.27 billion. Of the total allotment released by the DBM, P5.813 trillion is sourced from the current year’s budget, while the remaining P443.57 billion was from continuing appropriations. Continuing appropriations refer to appropriations available to support obligations for a specified purpose or project, such as multi-year construction projects that require the incurrence of obligations beyond one fiscal year.
Exactly 50 percent of the P443.57 billion allotment released for continuing appropriations have been obligated, which amounts to P221.98 billion.
PHL drives growth of digital remittance across Asia-Pac
By Rizal Raoul S. Reyes @brownindio
THE latest report by Visa Inc. shows Filipinos are driving the usage of digital remittances, with many citing speed and convenience as top reasons for adoption of app-based transaction. The report titled “Money Travels: 2025 Digital Remittances Adoption” revealed that 74 percent of those polled said they send money digitally while 66 percent opt for digital means when receiving funds.
Majority of the respondents in the Philippines (73 percent) rely on digital payments as the fastest way to access funds, with about 45 percent of consumers also seeing it as a safe and private method for sending and receiving remittances.
According to Visa, the report was based on responses from 44,000 senders and receivers across 20 countries and territories, including the Philippines. The report presents findings on the latest remittance trends around the world, including Asia Pacific, a key region in the $905 billion global remittance landscape.
“The Philippines accounts for more than 60 percent of total inbound remittance transactions in Asia Pacific , underscoring our robust position as a driver for regional remittance growth.
The shift to digital remittances fosters greater financial inclusion, with more people and businesses able to access secure, regulated digital channels for managing and receiving money,” Jeffrey Navarro, Country Manager for Visa Philippines, was quoted in a statement as saying.
While often cited as a top inbound remittance destination, the Philippines has grown its potential in the outbound money movement market, particularly
for business-to-business (B2B) payments. In a previous iteration of the report, seventy percent of Filipino SMEs reported a need to procure goods and services from overseas, while 60 percent expressed interest in sending money overseas.
Pain point
THE report also revealed that close to half—or 41 percent—of surveyed Filipinos send money for “unexpected needs,” second only to India (44 percent) and ahead of Australia (31 percent). More Filipinos also receive remittances on a regular basis at 39 percent, the highest in the region, followed closely by China (34 percent) and India (30 percent). Despite the growing adoption of digital apps for remittances, more Filipinos have also cited app fees as a pain point—43 percent for those sending/30 percent for those receiving money. This is highest across Asia Pacific, alongside India (36 percent/33 percent) and Singapore (32 percent/32 percent). For physical remittances, more Filipinos also cited high fees as a top concern (45 percent/29 percent), compared to India (41 percent/37 percent), Singapore (38 percent/30 percent) and Australia (29 percent/30 percent).
Digital apps too are embraced by older users, with 100 percent of respondents from the Philippines aged 65 and above planning to send remittances digitally. This is higher compared to the 45-64 age bracket (72 percent), 35-44 bracket (75 percent), and 18-34 bracket (74 percent). With one billion people relying every year on remittance services and platforms, Visa continues to innovate and build solutions to enable payments businesses to enhance operational efficiency in money movement and broaden financial access for their customers.
Art BusinessMirror
Full showcase of Ateneo Art Awards 2025 shortlisted artists, writers opens Friday
FOLLOWING its week-long preview last month, the full display of shortlisted exhibitions and essays for the Ateneo Art Awards 2025 is set to open this Friday, September 5, at the third-floor exhibit spaces of the Ateneo Art Gallery (AAG) in Quezon City.
The Ateneo Art Awards serves as the flagship program of the Ateneo Art Gallery, the university art museum of the Ateneo de Manila University. This year’s edition features a shortlisted set of 12 artists and 10 writers for the Fernando Zóbel Prizes for Visual Art and the Purita Kalaw-Ledesma Prizes in Art Criticism, respectively. They were announced at the Grand Atrium, Shangri-La Plaza, on August 19, which also marked the opening of the preview showcase that ran until August 25.
Meanwhile, the full exhibition at AAG will run until December 7.
Winning artists and writers in the Ateneo Art Awards 2025 will be announced in an awarding ceremony on October 5 at the AAG.
“Since its inception in 2004, the Ateneo Art Awards has given recognition to many of today’s leading contemporary artists,” says Boots Herrera, director and head curator of the AAG, during the announcement of shortlisted nominees. “Winning or being included in the shortlist of the awards has helped boost the careers of artists and writers at an early age.”
Now a biennial program, the Fernando Zóbel Prizes for Visual Art shortlisted 12 Filipino contemporary artists. Nominations cover exhibitions held within two exhibition cycles from May 2023 to 2025, with the artists under the age of 36 during the show’s run.
From the field of 12, four winners will be selected. They will be eligible for local and foreign residency grants funded by the Ateneo Art Gallery, in partnership with artist communities and residency partners here and abroad. Partner hosts select the recipient of the residency grant, and winning artists may also be selected by more than one residency host. One Shortlisted Artist will also be selected as the recipient of the Embassy of Italy Purchase Prize. Here are the twelve shortlisted artists for the 2025 Fernando Zóbel Prizes for Visual Art, in alphabetical order:
■ Lesley-Anne Cao—If time is an arrow, what is its target (Underground, December 6, 2023 to January 10, 2024)
■ Uri de Ger—Beauty is in the Eye of the Colonizer (KalawakanSpacetime, October 27 to November 30, 2024)
■ Lui Gonzales—A Tree Is A Seed As It Falls (Kaida Contemporary, March 2 to 21, 2025)
■ Silke Lapina—Bakit Pa (Edoweird, March 1 to 28, 2025)
■ Celline Marge Mercado—Between the Lines (Royal Melbourne Institute of Technology (RMIT) School of Art, Melbourne, Australia, June 21, 2024)
■ Hannah Reyes Morales—Home Holds Still (Tarzeer Pictures, November 16, 2024 to January 30, 2025)
■ Veronica Peralejo—A Tiny Ball of Mud (West Gallery, February 29 to March 30, 2024)
■ Issay Rodriguez—gathering, collecting, ongoingness (MO_Space, April 29 to 28 May, 2023)
■ Eunice Sanchez—Sa Ilog Nagtatagpo (West Gallery, September 14 to October 14, 2023)
■ Jel Suarez—As I Lift One Stone (Blanc Gallery, November 9 to 30, 2024)
■ Vien Valencia—Totems (West Gallery, July 18 to August 17, 2024)
■ Jezzel Wee—to weigh seeds, pulling through (Gravity Art Space, June 30 to July 29, 2023) Meanwhile, the 12th edition of the Purita KalawLedesma Prizes in Art Criticism accepted entries on the theme “Flight.” Two winners will be selected for the English category by The Philippine Star and ArtAsiaPacific, and one winner from the Filipino category by Katipunan Journal. Winning writers will be contributing to publication partners’ respective
platforms and will be eligible for month-long residencies with Orange Project Naranja Residency in Bacolod, Negros Occidental; The White House in San Antonio, Zambales; and Indeks in Bandung, Indonesia.
Here are the 10 shortlisted writers for the 2025 Purita Kalaw-Ledesma Prizes in Art Criticism:
ENGLISH CATEGORY
■ Bea Belen-Ferrer—In Between Flight and Fallout: What Would Postwar Modernists Do?
■ Abigail Buendia—When the City Catches Fire: In Defense of Carla Gamalinda’s Open City
■ Pie Tiausas—The internet is a space for the lonely
■ Tyra Maria Trono—Wings for 99 Pesos: On the Sentimental Weight of Dollar-Store Objects and the Imagination of Flight
■ Denzel Yorong—Martino Abellana and the myth of legacy
FILIPINO CATEGORY
■ Mavs Alviar—Through the Fire: Kung masasaksihan mo lang ang mundo at ang ningning ng mga alipato mula sa ilalim ng mga basket at banig
■ Emersan Baldemor—Hindi Lahat ng Umaangat
ay Naaalala: Si Tandang Ano at ang Politikang Estetiko ng Paglimot
■ Eric Jhon Bituin—Mga Paang Namumugto: Sining, Pandemya, at ang Lumalakad sa Gilid ng Daan
■ Josh Paradeza—Ang Tuloy-tuloy na Pagpapalagay sa Winala, Nawawala, Nawalan ni Ides Macapanpan
■ MJ Rafal—Ang Lipad at Liyab sa A Sea on Fire II ni Joar Songcuya
Part of the Ateneo Art Awards 2025 is the People’s Choice Poll. Visitors of the AAG may cast a vote for their selection throughout the entire run of the exhibit, with the top-picked artist to be announced after the show closes in December.
The Ateneo Art Gallery is open Mondays to Saturdays (9 am to 5 pm) and on every first and third Sunday of the month (9 am to 4 pm), except on regular and University holidays.
For more information on the Ateneo Art Awards and to get regular announcements on AAG’s schedule, public programs, and exhibitions, visit www. ateneoartgallery.com and follow @ateneoartgallery on Facebook and Instagram.
LEO (July 23-Aug. 22): Take nothing for granted. Do the legwork and make things happen. Be the one to lead the way and to grandstand your talents for all to see. Market and promote with confidence and charisma, and you’ll attract your ideal audience. ★★★
VIRGO (Aug. 23-Sept. 22): Approach institutions, government agencies and those who can help you with issues necessary to proceed with your plans. Updating your space or skills to suit your needs will require specific details to lessen your chance of facing setbacks or rejections. Follow the rules and regulations and forge ahead. Walk away from users and abusers. ★★★★★
LIBRA (Sept. 23-Oct. 22): Explore the possibilities, but don’t go overboard. Too much can cost you or cause you to miss the point. Create what’s essential to your success and direct your skills accordingly. Reach out to those who can provide you with information and experience that will help you make better choices. Love, romance and personal gain are favored. ★★
SCORPIO (Oct. 23-Nov. 21): Put all your efforts into work, money, and your health and wellbeing. Plan your day strategically, and you’ll maintain control over the possibilities that unfold. Say no to anyone who pressures you to participate in something that doesn’t interest you. Do what’s necessary to align yourself with those who can help further your agenda. ★★★★
SAGITTARIUS (Nov. 22-Dec. 21): If you are waffling, stop, look, listen and retrace your steps until you feel confident with your decision. Take care of any outstanding tasks at home and address any domestic issues that require your attention. If you accomplish what’s possible, you will feel good about yourself and what you have achieved. ★★★
CAPRICORN (Dec. 22-Jan. 19): Home improvements will cost more than anticipated. Evaluate what’s necessary and determine how to achieve your goals at a price you can afford. Enhancing your ability to stay in shape can significantly contribute to maintaining a healthy lifestyle and positively influence your interactions with others. Expanding your interests will increase your popularity. ★★★
AQUARIUS (Jan. 20-Feb. 18): A lifestyle change will point you in a direction that excites you. Follow your heart and head in the direction that allows you to use the skills you enjoy doing most to the fullest. Say no to those trying to use you to their advantage, and start using your talents to support and promote yourself.
PISCES (Feb. 19-March 20): Question everything and everyone. Getting your facts straight and timing right will take precision, detail and thoughtful action. Reach out to those able to contribute to your cause. Opportunities will develop through networking functions. Don’t pass up a chance to explore new possibilities. Keep an open mind, but don’t lose sight of your goal.
BIRTHDAY BABY: You are helpful, energetic and intuitive. You are active and aware.
Show
Martin Nievera’s timeless treasures on vinyl
FOR TELEVISION
REAFFIRMING its stature as the country’s leading broadcast network, GMA Network emerged as the biggest winner at the 37th PMPC Star Awards for Television. The network was once again hailed Best TV Station, alongside numerous recognitions for its programs and personalities, at the awarding ceremonies held on August 24 at the VS Hotel Convention Center.
GMA Integrated News’ flagship primetime newscast 24 Oras, anchored by Mel Tiangco, Vicky Morales and Emil Sumangil, won the award for Best News Program.
GMA Public Affairs, in turn, swept the magazine and documentary categories: Kapuso Mo, Jessica Soho for Best Magazine Show, The Atom Araullo Specials for Best Documentary Program, Wish Ko Lang! for Best Public Service Program, Pinas Sarap for Best Lifestyle/Travel Show, and Unang Hirit for Best Morning Show.
The talented individuals behind these shows were also honored: Jessica Soho won Best Magazine Show Host, Kara David was named Best Lifestyle/Travel Show Host, and the UH Barkada was recognized as Best Morning Show Hosts. In addition, i-Witness hosts Howie Severino, Atom Araullo, Kara David, Sandra Aguinaldo, Mav Gonzales, and John Consulta took home the award for Best Documentary Program Hosts, while multiawarded child star Euwenn Mikael won Best Child Performer for The Write One
In the drama categories, Maria Clara at Ibarra was named Best Primetime TV Series, AbotKamay na Pangarap won Best Daytime Drama, and Magpakailanman took home the Best Drama Anthology award. In comedy, Pepito Manaloto won as Best Comedy Show.
Family Feud took home the Best Game Show award, Fast Talk with Boy Abunda won Best Celebrity Talk Show, Cayetano in Action with Boy Abunda received the award for Best Public Affairs Program, and Walang Matigas na Pulis sa Matinik na Misis was recognized as Best Mini-Series.
Further honors went to GMA hosts: Dingdong Dantes won as Best Game Show Host, Boy Abunda was named as Best Celebrity Talk Show Host, while Boy Abunda, Pia Cayetano, and Allan Peter Cayetano were recognized as Best Public Affairs Program Host.
In acting, Dennis Trillo (Maria Clara at Ibarra) and Rhian Ramos (Royal Blood) were honored as Best Drama Actor and Best Drama Actress, respectively. Bubble Gang’s Paolo Contis and Chariz Solomon were recognized as Best Comedy Actor and Best Comedy Actress, respectively. For single performances, Alden Richards and Rochelle Pangilinan were awarded Best Single Performance by an Actor and Actress, respectively, for their roles in Magpakailanman
Meanwhile, Sparkle star John Clifford was named Best New Male TV Personality for his performance in Pepito Manaloto. Special awards were also given to several GMA personalities: Rhian Ramos was named Female Face of the Night and Bingo Plus Female TV Star of the Year, Barbie Forteza and David Licauco won the German Moreno Power Tandem Award, Rochelle Pangilinan was recognized as Female Celebrity of the Night, Herlene Budol received a special citation for Rising Drama Star, and Larkin Castor received the Timeless Smile Award.
More information can be found at www. gmanetwork.com
ITH more than 30 albums credited to his now iconic name, Martin Nievera solidifies his musical authority with the release of his latest one, which , a collection and reminder of who he is as a music man, songs that have chronicled his colorful musical journey over the past four decades.
And much to everyone’s surprise, this new album is available on vinyl. “This early, Martin’s new album is looming to be a collector’s item, and I’m making sure I will get one quickly before it becomes sold-out!”
said a good friend who has a priceless collection of some of the most treasured vinyl albums of both local and international musical artists.
From the titles alone, the songs included in Nievera’s new album seem very well curated, with his versions of songs originally interpreted by other esteemed artists. Take these titles: Iwi Laurel’s “Special Memory,” Joey Albert’s “Tell Me,” Basil Valdez’s “Ngayon at Kailanman” and “Say That You Love Me,” Nonoy Zuñiga’s “Never Ever Say Goodbye,” Itchyworms’ “Di Na Muli” and Ben & Ben’s “Leaves.”
The new album is also a tribute to the brilliance of the artists who composed and penned these now immortal Filipino classics, namely Cecile AzarconPicazo, Louie Ocampo, Allan Ayque, George Canseco, Willy Cruz, Jazz Nicolas, Wally Alcola, and Paolo Benjamin Guico.
Of course, there is one track that we will never get tired of listening, and that is “Be My Lady,” composed by Vehnee Saturno, a song which cemented Nievera’s place in the Philippine music industry when it was recorded and released in 1983 as part of the his debut album Take One.
“It is like coming full circle, from Take One to Take 2, after more than 40 years in the music industry. It is something I treasure, something truly special. There are no words to truly describe this sense of gratitude that I feel, and I’m just so humbled to have come this far!” he told us.
Nievera shared that he misses those years when he’d come face to face with his fans and patrons, signing the albums and CDs they bought. “It was so different during those years, when even for a few moments I get to be close to the people face to face, me asking what their names are, writing their names before signing autographs and seeing them very happy, kilig and overjoyed, hugging them, having photos taken with them, and simply connecting with
them.”
There are countless lessons in those four decades of Nievera’s journey, some he even learned the hard way.
“In this business, as in life, every important thing is a decision—you can choose the right ones and you can also make mistakes, and that is perfectly okay. But learn from these mistakes and become a better, wiser and kinder person. Learn to share and inspire, learn how to accept reality no matter how difficult it might be sometimes. And never forget to love yourself, too, to take care of yourself —your health, your peace of mind, your strengths, your good energies.”
He added, “Success is not just destiny, it is hard
work, it is faith and believing that you will and that you deserve it. It is the product of the contributions of so many people who love you and support you. Thats’ why I always tell the younger generation to savor every experience with a thankful heart, to make the most out of every opportunity not only for yourself, but also to try to make a difference in the lives of others.”
Perhaps Martin Nievera has also learned to keep a good balance of everything that has happened in his life—then and now—for him to be able to embrace longevity in an industry that can be both compassionate and cruel, one that does not often give many a chance to experience a “take two.”
‘Weapons’ regains top spot as the summer box office winds down
LOS ANGELES—Weapons found its way back on top during the Labor Day weekend, culminating a summer box office that’s likely to fall right below meeting last year’s earnings. Zach Cregger’s horror proved its staying power as a late-summer viral success and regained the top spot after last weekend saw Kpop Demon Hunters give Netflix its first box-office win. Weapons generated $10.2 million during its fourth weekend in theaters. Universal’s 50th rerelease of Jaws also made a splash in theaters, securing the second spot. Steven Spielberg’s 1975 film took “a bite out of the box office,” said Paul Dergarabedian, senior media analyst for the data firm Comscore, earning $8.1 million in 3,200 North American theaters.
“How appropriate that a movie that’s celebrating its 50 years, an all-time classic, Jaws, should be as relevant today as it was when it opened,” Dergarabedian said. “It’s so great because we need every dollar to contribute to the bottom line for this summer.”
The rerelease helped boost a summer with earnings likely coming in at $3.7 billion, just under last summer. Still, this year will miss the typical pre-
pandemic summer box office benchmark of $4 billion, Dergarabedian said.
Freakier Friday, which debuted alongside Weapons early this month for a successful humor/horror double feature, took fourth place, earning $6.5 million domestically. The Roses another newcomer, came in fifth with $6.4 million.
The Fantastic Four: First Steps landed in sixth place with $4.8 million. The Marvel superhero film hit box office gold during its late July entry, debuting at $118 million. The film, however, experienced a downward trend in earnings since its release.
The Bad Guys 2 came in just below First Steps, with $4.7 million, followed by Superman an early July entry that generated $2.6 million during the Labor Day weekend.
“There were casualties this summer. It’s a very crowded summer, very competitive,” Dergarabedian said. “At the end of the day, you can’t get to that four billion mark unless every movie just clicked and is performing at or above expectations.”
This summer’s earnings were front-loaded, with May releases like Thunderbolts and Lilo & Stitch becoming box office wins. However, the latter half of the summer struggled despite the success of movies like Weapons Dergarabedian said the summer succeeded in provided high-quality movies and marketing, but it’s “kind of limping a bit to the finish line in terms of the summer movie season.” The crime caper Caught Stealing, starring Austin Butler, generated $7.8 million domestically and snatched third place its debut weekend. Set in 1998 and directed by Darren Aronofsky, the film follows Butler as a New York City bartender who is unexpectedly wrapped up the city’s crime world. AP
Editor: Gerard S. Ramos
North American box office chart.
ALDEN RICHARDS
BOY ABUNDA
JOHN CLIFFORD
Discover the Best Stays in the PHL with HSMA’s September Online Sale 2025
The Hotel Sales and Marketing Association (HSMA) proudly announces the return of the September Online Sale (SOS) 2025, the country’s most eagerly awaited online travel fair offering up to 80 percent off on accommodations, dining, and leisure packages from nearly 100 participating hotels and resorts across the Philippines.
Running from September 1 to 30, 2025, SOS 2025 is the premier platform for Filipino travelers seeking exceptional value and convenience when booking their next getaway and to showcase how much they “Love the Philippines.” This month-long online fair allows travelers to lock in the best deals for stays valid until 2026 and even 2027, Now in its 6th year, SOS has become a trusted platform for Filipino travelers looking for both affordability and quality.
Under the theme “Discover the Best Stays in the Philippines,” SOS 2025 highlights experience-driven packages curated for families, couples, barkadas, business travelers, and even fur parents.
This year’s edition highlights the Department of Tourism’s (DOT) flagship campaign, Love the Philippines, underscoring HSMA’s commitment to support the DOT’s focus on the domestic market and encourage more Filipinos to explore local destinations.
Unlike traditional travel fairs that require guests to brave Metro Manila crowds and traffic (not to mention the additional challenge of finding parking), as well as quick, on-the-spot decision-making, SOS 2025 offers travelers the luxury of browsing and booking the best hotel and resort deals from the comfort of their homes. With a full month to explore options, travelers can take their time to find the perfect accommodation without the pressure of crowded venues, traffic concerns, or time constraints.
“SOS provides a more relaxed, flexible, and accessible booking experience that truly puts travelers first,” said Ma. Celeste Romualdo, HSMA SOS Project Head/ Director for Membership. “Our platform, accessible via hsma.org.ph/sos, eliminates the stress of traditional travel fairs while
delivering even better value.”
As an initiative organized by HSMA, made up of the best sales and marketing leaders from the country’s top hospitality establishments, SOS 2025 guarantees the best and lowest rates available for the entire month of September, compared to other booking platforms. Travelers can enjoy discounts of up to 75 to 80 percent on accommodations nationwide, along with special offers on hotel and resort restaurants, social banquets, corporate meeting functions, spa treatments, fitness packages, and wellness experiences.
The scope and variety of hotel and resort offers from Hotel Sales and Marketing Association member properties include: City escapes – Staycations in Makati, Manila, Pasig, Quezon City, Alabang, BGC, Pasay, and Parañaque with packages as low as P2,800 per night; North and South Luzon adventures –Scenic Tagaytay and Batangas resorts, Baguio city breaks, and Rizal highland getaways with discounts up to 63 percent; Island destinations – Palawan, Boracay, Cebu, Bohol, Iloilo, and Davao resorts offering 3D2N packages, family suites, Halal-friendly stays, spa credits, and island-hopping tours with validity until 2026 to 2027.
Special packages – Muslim-friendly dining, pet-friendly rooms, wellness escapes, and bundled family offers with extended validity windows of up to two years.
During the booking period, browsers only need to visit the HSMA website by typing hsma. org.ph/sos to view the extensive lineup features properties strategically organized into regional clusters for easy browsing: Manila and Makati; Pasig and Quezon City; Alabang and Bonifacio Global City; Pasay City and Parañaque; South Luzon; North Luzon and Rizal; Palawan, Davao, and Bicol; Cebu, Bohol, and Iloilo and Boracay.
“HSMA is excited to give travelers not just discounts, but carefully designed experiences across all regions of the Philippines. Through SOS, we’re making world-class hospitality more accessible while boosting our domestic tourism industry,” said Loleth So , HSMA President.
“’Love the Philippines’ finds its perfect partner in SOS. Together, we invite Filipinos to rediscover our destinations, support local tourism workers, and celebrate the richness of our country,” added Assistant Secretary Sharlene Batin, Department of Tourism.
“What makes SOS truly special is how our member hotels and resorts unite for one cause: to give travelers the best value while showcasing the breadth of Philippine hospitality. This collaboration is our way of ensuring that every Filipino can discover world-class stays right here at home,” said Tet Romualdo, HSMA Director of Membership and Project Lead for SOS.
“This year’s SOS is not just about discounts, but about curating meaningful experiences — from family-friendly vacations to wellness escapes and even pet- and Muslim-friendly packages. We want every traveler to find a stay that feels tailor-made for them,” said Amie Villena, HSMA Vice President and Co-lead for SOS.
SOS has demonstrated remarkable growth and reliability since its inception, generating significant value for both travelers and the hospitality industry:
2020: 1,752 vouchers sold, P14.1M revenue
2021: 5,164 vouchers sold, P29.6M revenue
2022: 5,854 vouchers sold, P35.6M revenue
2023: 3,666 vouchers sold, P19M revenue
2024: 5,552 vouchers sold, P24.2M revenue
In the past five years, SOS has generated an impressive P122.5M in total revenue, cementing its position as a major driver of domestic tourism in the Philippines. This is thanks to the support of key industry players, including the Department of Tourism (DOT). This strong support network underscores the event’s credibility and commitment to promoting Philippine tourism.
As the Philippines continues to showcase its world-class hospitality and breathtaking destinations, SOS 2025 represents the perfect opportunity for travelers to discover exceptional stays at unbeatable prices. Whether planning a romantic getaway, family vacation, business trip, or wellness retreat, SOS offers something for every type of traveler.
Mark your calendars for September 1, 2025, and prepare to explore the best the Philippines has to offer. Vouchers purchased during SOS 2025 are valid for one year or more. Visit www. hsma.org/sos to start planning your next adventure and secure incredible deals on the country’s finest destinations. Follow HSMA on Facebook and Instagram (@hsmaphilippines) for updates.
Say Hello to Tea Time: English Tea Shop’s Organic Wellness Blends for Home, On-the-Go
ORGANIC , sustainable, and undeniably stylish, English Tea Shop comes in gift-ready packaging that looks right at home on your kitchen shelf or hotel room desk. But it’s not just about looks. Each blend is crafted with pure, delightful flavors and packed with antioxidants and botanicals designed to energize your day, calm your mind, and support your overall wellness. It’s tea with purpose and a whole lot of pretty.
First-time tea lovers, jet-setters, and mindful sippers rejoice: English Tea Shop is here with its ultra-charming eight-count sampler, available exclusively at Robinsons Supermarkets and The Marketplace nationwide. With its pretty pastel packaging designed to spark joy at first glance, this little box is organic, healthy, and a chic must-have for your pantry or suitcase. Must-try flavors include Super Berries, a vibrant medley of berry powerhouses that delivers a perfectly balanced sweet-and-tart sip. For something zesty and refreshing, the Lemongrass, Ginger & Citrus blend offers a bold burst of flavor that’s ideal for digestion and energizing your mornings. And if you’re all about wellness, the Green Tea & Pomegranate is a go-to antioxidant-rich brew that’s as feel-good as it is flavorful.
Perfect for sampling before investing in larger packs or simply
traveling light, without compromising on taste or aesthetics. English Tea Shop’s organic eight-count packs are available only in Robinsons Supermarkets.
These organic 20-count blends are more than just delicious; they’re pantry must-haves. From the bold and energizing English Breakfast to the calming notes of Chamomile and Peppermint, each flavor is crafted to match your daily mood and wellness needs. Keep your shelves stocked with essentials like Green Tea Pomegranate, Lemongrass, Ginger & Citrus, Pure Green Tea, and the antioxidantrich Super Berries. Consider these your go-to brews because no wellstocked pantry is complete without them.
For green tea devotees, this one’s a standout. The Supreme Green is a thoughtfully curated pack that brings together seven green tea favorites in one generous box—ideal for those who love variety without straying from their wellness routine. Inside, you’ll find a harmonious blend of Green Sencha, Matcha, Pure Green Tea, Jasmine Green Tea, Mint Green Tea, and Mighty Matcha. Each sip offers a unique note, creating a soothing symphony of flavor that’s as revitalizing as it is refined. Plus, it’s all wrapped in eco-friendly packaging that looks good and feels good, because your tea should match your values too.
English Tea Shop’s organic 20-count packs are available only in Robinsons Supermarkets.
The 20-count Me Collection is thoughtfully curated to support beauty, balance, and inner harmony, uniquely designed with women’s needs in mind. Each blend offers a purposeful experience: Sleepy Me combines lavender and calming botanicals to ease you into restful sleep, while Beautiful Me supports healthy, glowing skin from within. For moments when you need grounding, Calm Me offers a soothing sip to help restore balance. And for those on a wellness journey, Shape Me is a light, metabolism-friendly infusion crafted to uplift and empower. Whether you’re seeking relaxation, a natural glow, or a daily wellness boost, there’s an English Tea Shop organic blend that speaks to your needs. Made with certified organic, sustainably sourced ingredients, English Tea Shop is a celebration of beautiful design, mindful living, and the joy of tea made to be enjoyed in whatever way fits your moment.
English Tea Shop is available at all Robinsons Supermarket and The Marketplace stores nationwide. For the latest updates, inspiration, and tea-loving content, follow us on English Tea Shop PH Facebook, English Tea Shop PH Instagram , and English Tea Shop PH TikTok.
La Dolce Vita: Italian Flavors Come Alive at Okada Manila’s La Piazza
CRAVING a culinary journey to the heart of Italy? Look
no further than La Piazza at Okada Manila. As the Forbes 5-star integrated resort’s signature Italian restaurant, La Piazza brings the genuine warmth and soulful flavors of regional Italian cuisine to life, serving an experience that’s both comforting and truly unforgettable.
Inspired by vibrant town squares, La Piazza invites guests to come together for meals that transport them to the charming cobblestone streets of Bologna, Florence, and beyond. At the helm is Chef de Cuisine Mattia Stroppa, whose culinary vision transforms the finest ingredients into world-class masterpieces.
“We want to give every guest at Okada Manila an unforgettable dining experience that features authentic flavors, handmade dishes, and exquisite moments,” said Chef Mattia Stroppa.
The expansive La Piazza menu is full of delightful treasures. The Bistecca, featuring a premium Australian Black Tyde Angus Tomahawk, is charcoal-grilled to perfection, keeping the insides juicy and succulent. Meanwhile, the pasta is handmade, and the sauces are crafted with the finest ingredients. Guests are also treated to authentic pizza dishes that are hand-stretched and pack a flavorful punch with each bite.
For those looking to make their meals extra indulgent, La Piazza also boasts an award-winning wine library. Overseen by Sommelier Jose Carlos Tongco, the restaurant earned the “Best of Award of Excellence” from Wine Spectator for two consecutive years. The collection features top-notch wines from vineyards across France, the USA, Italy, and Spain.
From the sleek bar counter to the sophisticated chandeliers, the dining experience is elevated by the beautiful interiors. Diners can choose to savor their meal either at the Trattoria, which offers a relaxed and casual setting, or at the elegant Ristorante.
For milestone celebrations like anniversaries, guests
As Okada Manila’s signature Italian restaurant, La Piazza brings the genuine warmth and soulful flavors of regional Italian cuisine. can enjoy a bespoke experience while dining at The Chef’s Table. This allows for an elevated experience with a curated five-course tasting menu paired with awardwinning wines
Savor the rustic and refined charms of Italian regional cooking at Okada Manila today. For reservations, please contact RestaurantReservation@okadamanila.com or call +632 8555 5799. For more information, visit https:// okadamanila.com/dine/.
Hotel Okura Manila Introduces Kisetsu Weekday Lunch Buffet at Yawaragi
HOTEL Okura Manila is pleased to launch the Kisetsu Weekday Lunch Buffet at Yawaragi, responding to growing requests from local guests for a more flexible, buffet-style dining experience during lunch hours. Unlike traditional buffets, the Kisetsu offering is à la minute, meaning each dish is freshly made as you order. This approach ensures that every plate is prepared at the right temperature, texture, and timing, delivering freshness without sacrificing variety.
The spread includes signature Japanese selections such as freshly sliced sashimi and hand-pressed sushi nigiri, prepared in Yawaragi’s kitchen to preserve their quality and delicate flavors. Guests can also watch dishes come together at the pasta station with a Parmesan cheese wheel, the seafood station with customizable sauces and condiments, and the robatayaki grill station serving seasonal meats and vegetables cooked to preference. The menu is designed by Yawaragi’s culinary team to balance familiar comfort with refined technique, offering quality dishes in a relaxed buffet setting.
“We’ve seen that many of our guests—especially
locals—enjoy the variety of a buffet, but still look for freshly made food,” says Yoki Takeuchi, Assistant Director of Food & Beverage. “This format allows us to deliver both, while keeping the experience relaxed and enjoyable.” Available Monday to Friday during lunch, the Kisetsu Buffet is priced at P1,750++. It’s ideal for business lunches, casual catch-ups, or mid-week dining with a little more thought behind every bite.
Foundever® in Palawan associates join thousands of volunteers at the 33rd Feast of the Forest in Barangay Montible, Puerto Princesa City on June 28, 2025. As part of the company’s commitment to sustainability and community partnership, Foundever in Palawan took part in planting approximately 10,000 native seedlings to help restore
Foundever® in Palawan Joins Watershed Restoration in 33rd Feast of the Forest
FOUNDEVER®, a global leader in the customer experience (CX) industry, joined over 4,000 volunteers in the 33rd Pista y Ang Cagueban’s Feast of the Forest, a large-scale tree planting event in Puerto Princesa City. With the theme “Tayo ang Kalikasan: Nagkakaisang Tugon sa Krisis ng Mundo” (“We Are Nature: A United Response to the Crisis of the World”), the event brought together local government units, civil society, and the private sector to plant approximately 10,000 native tree seedlings in the city’s critical watershed area. The Foundever in Palawan team was led by Site Director Freda Lou Caguin, along with
Operations Manager Lorenz Hibon and Human Resource Manager Ann Montelbon.
are proud to take part in an initiative that not only restores our forests but protects the lifeblood of this city, its water,” Caguin said. “For us at Foundever in Palawan, advocating for and supporting our ecology is part of caring for the people in the communities where we are based. Sustainability is not a side effort; it’s a shared responsibility.”
The Montible-Low Subangan Watershed, where the planting took place, is one of
safeguards the livelihoods of future generations of Palaweños. This annual reforestation effort, known locally as Pista y Ang Cagueban or “Feast of the Forest,” was first launched in 1991 and has since become a model of community-led environmental action. Foundever in Palawan, through its participation, highlights its dedication to aligning business practices with environmental integrity and social responsibility. Through tree planting and other corporate social responsibility (CSR) efforts, Foundever continues to build lasting partnerships that reflect its core values: innovation, inclusion, and sustainable impact.
Health crisis spirals in Colombia as ERs and maternity wards close
By Andrea Jaramillo
PRESIDENT Gustavo Petro
wanted to expand the state’s role in Colombia’s health care. Instead, he’s crushing a once-robust system that had been among the most effective in Latin America.
First maternity wards and neonatal units started shutting down. Now emergency rooms are closing their doors. Patients are waiting longer for urgent care. And families are struggling to pay for medicines that used to be provided for free.
“It’s as if the oxygen valve is slowly shutting down,” said Jorge Toro, head of Unips Colombia, which represents health providers in the Andean nation. “The health system is in a coma.”
The spiraling crisis is fueled by delays and shortfalls in government payments to health insurers, which in turn owe more and more money to hospitals and drug dispensaries. This chain of mounting arrears, experts and industry groups say, is choking off critical services, with long-term health implications for Latin America’s third most populous country.
Among the vulnerable Colombians is a brown-eyed toddler named Isaac, who has a painful groin cyst and urinary tract infection. On a cold and damp August morning in the capital Bogotá, his mother Gabriela Acevedo, 24, walks out of the Hospital Universitario Clínica San Rafael carrying the 13-month-old who’s bundled into a green parka.
The family’s insurer, publicprivate Nueva EPS, the largest in Colombia, has so far not approved the surgery her son requires. Over the past two weeks, Gabriela and her mother Janeth have been taking him to San Rafael. At first all they got for him was acetaminophen. The last time they were given an antibiotic used to treat other infections but not UTIs, says Acevedo, who is trained as a nurse’s aide.
“I keep having to come back because the boy is sick,” she says, as Isaac clings to her shoulder. “He’s in so much pain.”
Acevedo has now been told that San Rafael will no longer service patients from her insurer.
“We don’t know where to take him anymore,” she says. “Where will they operate on him? One no longer has the right to get sick.”
Acevedo says her only option next time is to return to San Rafael and go in through the emergency room.
Sicker patients
DESPERATE for care, more and more Colombians are doing the same thing, as the health-care crisis spills onto the doorsteps of a shrinking number of emergency rooms. Unable to access or afford medicines or timely medical appointments, they often arrive sicker too. Six or seven out of 10 patients entering the ER are now hospitalized, crowding those services as well, Unip’s Toro explained.
In April, Clínica Ciudad Roma in Bogotá closed its ER. And at the end of July, Fundación Hospital San Carlos in the capital did too. Others may follow.
The ER closures are
generating a “domino effect,” said Fabián Andrés Rosas, an ER doctor who heads an association of emergency medical specialists known as ACEM. “Those patients go to other hospitals and overwhelm their services.”
Under Colombian law, emergency rooms aren’t allowed to turn patients away. Because ERs are now facing two or three times as many patients than they have capacity to handle, the time it takes from when people enter the ER to when they’re sent home or hospitalized has climbed to 24 hours from a previous six to eight hours, Toro said. The growing lag puts not only patients at risk but also the hospitals, he added, as they’re responsible should anyone die awaiting treatment.
In a July report, Colombia’s general comptroller warned of the “critical” state of the health care system. For every 100 pesos that the government transferred to insurers last year, they spent more than 110 pesos, according to the report. The shortfall has left the insurers, known as entidades promotoras de salud or EPSs, saddled with accumulated losses of around 30 trillion pesos ($7.5 billion), according to Acemi, the industry group that represents several of them. The insurers in turn owed 32.9 trillion pesos to hospitals and pharmaceutical dispensaries through the end of last year, according to the comptroller’s report.
“Anguish” is how José Muñoz describes how he and his wife Alexandra felt after her cancer treatment at a Bogotá hospital was abruptly postponed. While it was later restored, uncertainty over the delay and stress from the financial burden of her treatment are driving up her blood pressure. The couple has been forced to pay for most of the chemotherapy pills, which they struggle to afford from his sporadic taxi fares and a small apartment they rent out.
“I try and not let it get to me,” Alexandra said as she braced for a grueling new round of chemotherapy.
Hospital Universitario San Ignacio, where Alexandra is undergoing treatment, is one of many providers to end obstetrics services, although it maintains a neonatal ICU for infants referred by other hospitals. It has also ended critical obstetrics training for its residents. Petro took to directly intervening the insurers last year, arguing that they weren’t meeting financial reserve requirements. Among the targets were the top two, Nueva EPS and EPS Sanitas. More than 60% of Colombians are now covered by an EPS that is now effectively under state control.
A top court in Colombia recently overturned the takeover of EPS Sanitas, which is owned by Florida-based health group Keralty SAS, whose main shareholder is Spanish magnate Joseba Grajales. But the government has yet to restore control to Keralty. At the end of July, health regulator Superintendencia de Salud asked
the court for further details on its ruling.
Since then, Petro issued a decree that virtually eliminates the role of the insurers in favor of regional governments. That move bypasses Congress, which has so far blocked his push for more state control over health care.
Ovidio Arroyave says he is thankful that his oxygendependent mother passed away in January before having to endure what he is living through now with his 92-year-old father. He holds a printout of a dozen prescriptions — many unfilled — to treat his father’s ailments, including damaged lungs and heart failure.
“Around October was when the problems started,” says Arroyave, standing outside the offices of Nueva EPS, where he is awaiting approval for one of the drugs that he says they used to receive for free.
Radical aspirations
PETRO, Colombia’s first leftist president, was elected in 2022 on a pledge to radically transform the country’s marketbased economic model. While he has gotten Congress to approve pension and labor legislation, lawmakers have so far balked at his proposed health reform. In response, he has lashed out and pursued alternative means to implement his state-led agenda. In his crosshairs are the insurance companies.
Colombia’s constitutional court declared the formula Petro’s administration uses to calculate per-user transfers to insurers to be insufficient, and ordered officials to work with industry to revise it. The courtordered revision has yet to see
the light.
In a July 15 televised speech, Petro reiterated his denial that the government owes money to the insurers. And in a meeting with EPS representatives that month, top health regulator Giovanny Rubiano — a Petro ally — questioned “whether the issue is a lack of resources or a lack of control in the execution of resources.”
“Someone just can’t come in and say that resources must be injected into the system as the big solution,” Rubiano said, according to a statement and video from his office. “We have to find administrative efficiencies.”
Petro’s office declined to comment further, referring to the president’s televised remarks.
Hospital San Carlos, which is located near middle- and low-income neighborhoods in Bogotá, was receiving on average 1,200 patients a month in its emergency room last year. By June, the number had more than doubled to 2,500, hospital director Carlos Arango told local station Blu Radio. The combination of financial difficulties and more patients forced the institution to close its ER at the end of July, Arango said. “We need to save the hospital.”
Mayra Mercedes Ortega’s 43-year-old brother, Teófilo, spent six weeks at San Carlos. About a year ago, a blood clot formed in the artery-vein connection in his arm, known as a fistula, that’s used for dialysis treatment. Months went by. Living in Saravena, Arauca, which is a nearly 12-hour bus ride from Bogotá, made it even harder to get his insurer Nueva
Desperate for care, more and more Colombians are doing the same thing, as the health-care crisis spills onto the doorsteps of a shrinking number of emergency rooms. Unable to access or afford medicines or timely medical appointments, they often arrive sicker too. Six or seven out of 10 patients entering the ER are now hospitalized, crowding those services as well, Unip’s Toro explained.
EPS to approve Teófilo’s transfer to a higher-level hospital where surgery could be performed. The fistula ended up rupturing. Teófilo was eventually flown to Bogotá, but he almost died from blood loss and other complications, Ortega says.
Health coverage in Colombia is practically universal with close to 99% of the population able to access public services. The country once had one of the lowest out-of-pocket spending rates in the world. In 2021, the share of household consumption spent on healthcare was 1.7%, according to the Organization for Economic Co-operation and Development, below the 3.3% average for member countries.
As more and more Colombians lose timely access to care and medications, the government’s independent human-rights watchdog, known as Defensoría del Pueblo, estimates that the complaints it will receive this year for health rights violations will jump by 80% to 34,340 from 19,077 in 2022, when Petro came to power.
Diana León, 27 and pregnant, now has to take a 40-minute bus ride to get to San Rafael hospital. She totes her seizureprone toddler Maria Fernanda wherever she goes while her husband works. The clinic where she delivered her first child was close to home in a southern neighborhood of Bogotá. So was Hospital de la Misericordia, a children’s facility that she would rush to when her daughter’s fever spiked. Those institutions no longer service her insurer Sura EPS, part of Grupo Sura.
Three months ago Diana and her husband rushed Maria Fernanda to San Rafael when she started having another seizure.
“It took forever to get here,” León says, adding that by the time they did, her daughter’s blood oxygen levels were dangerously low.
Back at the offices of Nueva EPS, Uriel Ardila, 66, awaits approval for the blood pressure and diabetes medications he has been taking for years.
Since October, Ardila says he’s been struggling to obtain them. Together they cost 546,000 pesos a month, which is about a third of the stipend he gets as a pensioner receiving a minimum monthly wage. He is sporadically given one or another medicine, but in April and May he was forced to skip them entirely and his blood
glucose levels shot up, he says. “I didn’t have money to pay for them myself,” Ardila said. “Sometimes you have to choose between buying the medication or putting food in your mouth.”
Besides spending more on medication, a growing number of Colombians are lining up private health insurance. Last year, demand jumped 24% from the previous year, according to insurance chamber Fasecolda. T hat’s up from an average annual growth rate of 12% in the last decade. This year through June, it’s up 27%. Leidy Calderón, 31 and about a month away from giving birth, said she bought private insurance from Sanitas a year ago. But that insurance plan doesn’t cover pregnancy. EPS Sanitas has only given her appointments with general practitioners at medical centers, not an obstetrician, and she’s even had to pay herself for all but one of her ultrasounds, she says. “If something happens to me at this moment, I have no idea what to do or where to go.” Nueva EPS declined to comment for this story, as did EPS Sura. EPS Sanitas said, referring specifically to Calderón’s case, that it’s carrying out an evaluation to establish, together with the network of providers, “actions that will allow the comprehensive, timely, and quality access” to care for its member.
Such desperation among patients will eventually turn up in Colombia’s health and economic data. The Center for Studies in Social Protection and Health Economics (Proesa) at the Universidad Icesi in Cali has been examining the impact of rising out-of-pocket spending on health care. An increasing number of households is poised to tip into poverty while mortality rates are likely to rise because fewer and fewer Colombians are able to access medical services or medication in a timely manner, says Proesa director Victoria Soto. It’ll take time for the data to reveal the impacts of the crisis, she adds.
“Death certificates aren’t going to show that a person passed away because they didn’t get their medication on time, they’ll just say the cause was a stroke or heart failure,” she said.
“I ask, do we really need to see it in numbers of deaths to understand this wasn’t the best way to discuss a reform in the health system?” Bloomberg News
IN Bogotá, Fundación Hospital San Carlos closed its ER in July. SANTIAGO MESA/BLOOMBERG
High Speed Hitters
LDT was a team captioned
P“always a contender but never a winner,” but on Sunday night, the High Speed Hitters validated with authority that they have what it takes to be called champions.
T he High Speed Hitters stood their ground against a young but skilled Japanese crew from Kobe Shinwa University to win the Premier Volleyball League Invitational crown, 21-25, 31-29, 25-22, 25-18 before a loud and proud crowd at the Smart Araneta Coliseum.
So amazing are the High Speed Hitters that they went seamless in their two title runs—they were unbeaten in eight matches in the PVL On Tour they won some two weeks ago and went 5-0 in the Invitational.
“I c ouldn’t be any more proud how we came out today [Sunday],” said Savi Davison, who finally got to hold aloft her first Most Valuable Trophy after playing almost three seasons for PLDT.”
We came into this game knowing that if they [Kobe Shinwa] gave us the opportunity, we had to take it,” added Davison, who delivered another explosive 20-point performance complemented by nine excellent digs and 18 receptions.
“They [Japanese] are really good team, they really challenged us and this is probably one of the hardest games we played all year,” Davison said.
K im Dy’s emphatic block on Nagisa Komatsuda sealed the onehour and 50-minute championship conquest as she delivered a solid all-around performance of 17 points.
Rookie Alleiah Malaluan—only 21 but already in the Alas Pilipinas pool—flashed a maturity beyond her years and contributed 15 points, while veteran Mika Reyes added 12 points she highlighted with crucial deceptive in key moments.
L ibero Kath Arado provided the
backbone for PLDT’s defense and finished with 22 excellent digs that rewarded her the Finals MVP award.
All our sacrifices paid off and we’re so thankful to our fans and supporters,” Arado said.
Nagisa Komatsuda made 22 points, while Kokoro Yasuma chipped in 14 points and Reira Miyazaki added 11 and Yuia Yamano and Arisu Ishikawa eight points each for Kobe Shinwa, which faltered when the pressure peaked.
PLDT head coach Rald Ricafort knew Kobe Shinwa wouldn’t go down quietly.
They were much quicker, and hungrier,” Ricafort said.
“We got ourselves confused because they did their homework pretty well.”
Kobe Shinwa, Ricafort said, played with surgical precision and relentless pace in the gold medal match.
“Kobe Shinwa was on a different level in the final,” said Ricafort as he reflected on their loss in the first set.
But if the Japanese were a storm, PLDT was a mountain.
The High Speed Hitters dug deep and rose to the occasion by adjusting their game plan and banked on the very traits they had been sharpening all season—mental fortitude, tactical discipline and collective hunger.
Ricafort said the players’ mindset was the game changer in the math.
W ith its fifth bronzemedal finish, Creamline extended its unmatched streak to 19 consecutive podium appearances in the PVL—an extraordinary display of consistency that further cemented their status as the league’s gold standard with the team’s record 10 championships.
M ichele Gumabao finished with a solid 17-point outing on a stellar 58 percent attack efficiency, while Jema Galanza had 12 points and Alyssa Valdez and Pangs Panaga chipped in nine and seven points each.
Ara Galang led Chery Tiggo with 10 points, Cess
Robles chipped in nine points and Imee Hernandez was limited to just five points.
Davison, finally, gets MVP trophy
SAVANNAH DAVISON finally claimed her first Most Valuable Player trophy after finishing inside the Top 10 of almost every statistical category.
Jaraula wants magic back in PGT Binitin
By Aldrin Quinto
Uy
CAGAYAN DE ORO provided over the weekend another electrifying reception to the forthcoming 2025 FIVB Men’s World Volleyball Championship to wrap up the three-city “Set Na Natin ‘To Trophy and Mascot Tour” at the SM Downtown CDO. With Alas Pilipinas pool member Elijah Kim and former volleyball player Dylan Ytorralde—now an actor and a PBB Housemate—regaling the crowd with mascots Hataw and Koolog, the tour ended the way it started three weeks ago—with a bang. “ We’re 12 days to Day 1 and we appreciate the warm and raucous reception for the world championship in these three-city tour,” said Ramon “Tats” Suzara, president of the Philippine National Volleyball Federation and the Asian Volleyball Confederation. The world championship starts next Friday (September 12) at the SM Mall of Asia Araneta with Alas Pilipinas and Tunishia clashing in a Pool A match at 6 p.m. followed by an electrifying opening ceremony featuring K-Pop group BOYNEXTDOOR and Karencitta.
“It wasn’t motivation alone, the players had their presence of mind and they did focus while being patient,” he said. “When we got second set, we turned the game around.”
Cool Smashers bag bronze medal
CREAMLINE flashed its championship-caliber form to beat Chery Tiggo, 25-15, 25-13, 25-22, in the battle for third place also on Sunday.
Trophy, mascot tour wraps up in CdO
The 32-nation world championship will go on until September 28 both at the SM MOA Arena and Smart Araneta Coliseum with tickets available at official web site https://www. philippineswch2025.com/. Gracing the event were PNVF Mindanao Charter Member Alexander Adeva, head of the region’s volleyball association; Cagayan de Oro City Sports Office OIC Abby Cris Waga, representing Mayor Rolando “Klarex” Uy; and Department of Tourism Region 10 director Marie Elaine Unchuan along with John Baclig, JM Delvo and Elvie Mae Amay, as well as SM Downtown CDO mall manager Paolo V Zulueta and mall marketing manager Bambi Ochavo-Ditona.
T he trophy and mascot tour kicked off at the SM Seaside in Cebu City two weekends ago and visited Laoag City the previous weekend before culminating in Cagayan de Oro.
HATAW (blue) and Koolog (red)
J oining her in the honor roll were Creamline’s Jema Galanza as Best Outside Hitter, Chery Tiggo’s Ara Galang as Best Opposite Spiker, Creamline’s Jeanette Panaga and ZUS Coffee’s Riza Nogales as Best Middle Blockers, PLDT’s Kath Arado as Best Libero Kobe Shinwa University’s Sakura Furuta as Best Setter.
in the professional series put up by International Container Terminal Services Inc.
On Binitin’s demanding course, however, accuracy eclipses length.
Que is hungry for more after wins at Pradera Verde and Eagle Ridge and runnerup finishes at Forest Hills and Caliraya.
The 46-year-old former Philippine Open champion looks to tighten his lead on the Order of Merit, where Philippinesbased Dutchman Guido van der Valk, who topped Forest Hills, is running second.
Carl Corpus is a distant third, with Jahns fourth, followed by Aidric Chan, winner of the Lexus Challenge in Vietnam and the Morocco Rising Stars on the Asian Development Tour.
Wildlife in QC bound to undergo transformation
into a vibrant and multi-purpose space for recreation and physical fitness. PSC chairman Pató Gregorio and DENR Secretary Raphael Lotilla underscored their shared vision of revitalizing the area to position it as a safe and accessible venue for active lifestyles in the country’s largest city. T he park is ideal for the development of various sports facilities among them a skateboarding park, wushu and sports climbing areas, rowing lanes and canoe-kayak paddling zones in the lagoon and bike- and pedestrian-friendly spaces. When we opened the track ovals at Rizal Memorial, [Sports
Secretary Raphael Lotilla share the same goal on health and fitness and love for the environment. PSC PHOTO
spaces will also contribute to making the city’s streets more pedestrian-friendly, especially with the planned Elevated Landscape Promenade connecting the Wildlife Center to the main area of Quezon Memorial Circle.
“The DENR which has jurisdiction over parks and public land can support the program. We are committed to do so,” DENR Sec. Lotilla said. He also bared that the project only requires minimal budget but it can make a significant impact to many.
“It can also help revive certain sports in communities like softball and baseball where we were known to be excellent in the early 1900s. Putting up a diamond [for softball and baseball] is not expensive which can also be used in other kinds of activities like music and others,” he said.
“I’m so excited that Secretary Lotilla is very open to all these possibilities,” said Gregorio, adding that he intends to coordinate with the Wushu Federation of the Philippines to regularly conduct programs within parks and public spaces.
T he wushu disciplines Taolu (choreographed routines using
weapons) and Tai-chi (slow and fluid movement for health and balance) are ideal for these settings and can be easily adopted by the citizens.
Gregorio also recently met with Department of Education Secretary Sonny Angara to break ground on crafting a new national program that provides sports training equipment and improves capabilities of teachers and coaches through the PSC’s Philippine Sports Institute.
Tony Lascuña is a threat, as always, and the five-time winner of the Order of Merit is eager to clinch his first title this season.
Jhonnel Ababa, Rupert Zaragosa, Fidel Concepcion, Zanieboy Gialon, Michael Bibat, Jay Bayron, and Clyde Mondilla round out a deep veteran cast.
A sian Tour campaigner Sean Ramos and fellow young guns Ryan Monsalve and Russell Bautista also seeing action, along with Collin Wheeler of the US and Jisung Cheon of South Korea.
FAR Eastern University (FEU) finally booked breakthrough championship in the Shakey’s Super League (SSL) National Invitationals Batangas Leg in Batangas City over the weekend.
L ed by Best Player of the Batangas Leg Faida Bakanke, grizzled veterans Gerzel Petallo, Jazlyn Ellarina and Alyzza Devosora and top setter Tin Ubaldo, the Lady Tamaraws ruled the final stop of the three-leg tournament in near flawless fashion.
FEU swept its three matches without dropping a set to complete a redemption tour following a runner-up finish last year.
T he Lady Tamaraws, however, are not yet done as they shift their focus to a much bigger centerpiece SSL Collegiate Pre-season Championship starting on September 20.
“The players have to treasure every match because they are the foundation we need in the league,” she added.
FEU also stormed past Letran and host University of Batangas to join other leg winners National University (Davao) and Adamson University (Cebu).
“Hopefully, we can bring this experience to our next matches as well as the chemistry the team has developed,” Salak said.
T he Lady Tamaraws will have over two weeks to prepare for the Collegiate Pre-season Championship that features squads from the University Athletic Association of the Philippines and National Collegiate Athletic Association (NCAA).
“I t’s a great headstart and this sort of things are what we need to experience,” said FEU head coach Tina Salak after they swept College of Saint Benilde 25-21, 25-16, 25-19, at the close of the quick single-round robin tournament Sunday at the University of Batangas Millennium Gym.
FEU shook off a shaky start and made crucial defensive adjustments to dictate the pace of their match against Saint Benilde the rest of the way. The Lady Tamaraws silenced the fourtime NCAA champions
DANIELLA UY is back to defend her title in Bacolod after a stint on the Ladies Professional Golf Association of Taiwan. PGT PHOTO
