Heavy Industries Philippines (HHIP) conducted on Tuesday a steel-cutting ceremony at its Redondo Peninsula shipyard here, signaling the start of vessel production since taking over the former Hanjin facility three years ago.
President Ferdinand Marcos Jr., who pressed the ceremonial button to start the steel cutting machine, said the event also starts the country’s reclaiming of its
“rightful place among the world’s great shipbuilding nations.”
The President was joined in the ceremony by Korean Ambassador to the Philippines Lee Sang-hwa, HD Korea Shipbuilding & Offshore Engineering Ind. CEO Kim Sung-joon, HD Hyundai Heavy Industries Philippines president Oh Sekwang, and newly-appointed Public Works Secretary Vince Dizon.
HD Hyundai, which has taken over the facilities vacated by Hanjin Heavy Industries in 2019, is reportedly investing some US$550 million over the course
of its 10-year lease to construct about 10 vessels each year.
HHIP’s takeover of the shipyard with the United States equity firm Cerberus Global Investment LLC, Marcos said, will raise the capacity of the shipyard allowing it to eight massive oil tankers from just four to five of such vessels.
The Korean firm will initially focus on the construction of product tankers measuring up to 250 meters long, Baird Maritime reported last month.
In his message, Marcos hailed Hyundai’s entry in Subic and its partnership to revive shipbuilding
in the country.
“Together with our partners, we are reviving the shipbuilding in the country to strengthen industries, promote livelihood, and build a better, stronger future for the Philippines,” Marcos said. He noted that Philippine shipyards were producing 1.2 to 2 million gross tons of ships annually from 2014 to 2018, until the output fell in 2019, the year that Hanjin ceased operations in Subic.
“Today, we raise the sails once more,” he added. Marcos said that with HD
DepDev Secretary Arsenio M. Balisacan said this is despite his recognition that floods disrupt economic activities and lead to the destruction of assets, among others.
The Development Budget Coordination Committee (DBCC) is targeting a full-year growth of 5.5 percent to 6.5 percent in 2025. Starting next year until 2028, the government is aiming to post an average growth of 6 to 7 percent.
“So far, I think people, the business sector can adjust. We can do some overtime for the renos [renovations], causing the people to work. But what is not good, if it happens too often, then the cost can be difficult to recover,” Balisacan told reporters at the sidelines of the Senate Finance Committee Hearing on Tuesday.
Balisacan said floods, similar to what happened last Saturday, lead to class suspensions, closed offices, and stop
increase will matter. Capital Economics said if these will be financed by additional borrowing, this could become a boost to GDP. But if these are financed through the reduction of spending for other budget items or higher taxes, this may not be much of a boost to GDP. “Fiscal constraints are more pronounced in Pakistan and the Philippines, where any substantial increase in defense spending would likely need to be matched by reductions in other areas,” Capital Economics said. Capital Economics said most countries in Asia allocate less than the North Atlantic Treaty Organization (Nato) average of 2 percent of GDP. Further, no
By Lorenz S. Marasigan
WITH billions of pesos potentially lost to “ghost and non-existent” flood control projects, new Public Works
Secretary Vince Dizon has given himself 60 days to purge the agency of bad eggs and rebuild public trust.
Dizon, who moved from the Department of Transportation to head DPWH after Manuel Bonoan’s resignation, said the cleanup is necessary to restore integrity in one of the government’s largest and most corruption-plagued agencies.
He has pressed more than 250 officials to tender their courtesy resignations in the wake of the “ghost” flood control projects unearthed by
no less than President Ferdinand Marcos Jr.
“As in any organization, there are problematic members. There are bad eggs and the process of weeding out the bad and replacing them with the good is a process that all organizations have to go through at some point,” he said.
Dizon noted that he believes that the “vast majority of the people in DPWH are good people—they’re talented, honest, hardworking people,” while highlighting that the purge is “necessary.”
“Sometimes it requires a seismic event to force that institution to evolve and to change. And we are in the middle of that right now,” he said. “Personally, we are giving ourselves 60 days maximum to be
able to see how best we can reorganize and hopefully after 30 to 60 days we will have an organization that we feel will be ready to take on these challenges and move forward.”
Over the past several weeks, the DPWH has been under fire after “ghost” and substandard flood control projects were exposed, with the agency finding “15 nonexistent” and “two” being ghost projects. The revelations drew anger as they came amid massive flooding from heavy rains from serial weather disturbances and the southwest monsoon, submerging communities, farmlands and even major thoroughfares.
Former Secretary Manuel Bonoan, who officially handed over the
helm of the agency to Dizon on Tuesday, explained that these were the results of the initial validation conducted by his team. Non-existent, he explained, are being further validated but have the markings of a ghost project. The latter term, meanwhile, refers to projects that were marked completed and paid, but no infrastructure was delivered. About 160 more locations out of more than 1,600 sites have yet to be validated.
Perpetual blacklisting
DIZON said he is firm with his stance that he will ensure the perpetual blacklisting of contractors found to have been involved in
PRESIDENT Marcos witnesses the steel-cutting ceremony at HD Hyundai’s Subic facility on Tuesday, September 2, marking the start of Hyundai’s vessel production since taking over the former Hanjin shipyard three years ago. CONTRIBUTED PHOTO
country is spending over 3 percent of GDP.
However, most countries have announced plans to increase their spending for defense. Nonetheless, it said, political constraints could prevent this from happening.
Apart from growth, Capital Economics said the higher defense budget could also increase a country’s imports and flows out to other countries. However, half of the military budgets are for personnel, boosting incomes.
“No Asian economies have sizeable defense industries, meaning that a large chunk of the additional spending will leak abroad. For countries with fragile external positions, such as Pakistan, a heavier reliance on imported hardware would put further pressure on the current account,” Capital Economics said.
For the 2026 budget, the Department of Budget and Management (DBM) said the government is allocating P430.9 billion for defense spending. This is 6.3 percent of the national budget of P6.793 trillion.
The data showed the Department of National Defense (DND) received an allocation of P299.3 billion for next year. The DBM also said that in terms of the defense Program for Land, Air, and Naval Forces, the government is spending P224.1 billion; Revised AFP Modernization Program, P40 billion; and the PAyapa at MAsaganang PamayaNAn Convergence Program, P6.3 billion.
Cai U. Ordinario
DOE budget breezes through House, up 24% to ₧3.84B
By Lenie Lectura @llectura
THEDepartment of Energy (DOE), led by its secretary and former lawmaker Sharon Garin, quickly obtained the go-ahead of the House Committee on Appropriations to increase its budget by 24.4 percent next year to P3,839,351.00.
Lawmakers, who expressed full support for ex-colleagues, on Tuesday approved to terminate the deliberations on the DOE’s proposed 2026 budget. Garin previously served as the representative of the AAMBIS-Owa Party List from 2010 to 2022 before joining the DOE as undersecretary. She took over the DOE top post in July. Of the proposed budget, 64 percent will be sourced from Fund Cluster 01, or the regular agency fund, and the 36 percent from the Special Account in the General Fund -151. The DOE said it will use the budget to prioritize its nuclear energy development program, promote energy efficiency and conservation, alternative
fuels for transport, total electrification project, and ISSP (Information Systems Strategic Plan) and Capital Outlay requirements. The budget will also help increase the agency’s manpower.
The Energy Regulatory Commission (ERC), meanwhile, asked for a budget of P906,0170,000 for 2026, lower than last year’s approved budget of P930,879,000.
“For our budget, this is the comparative for fiscal years 2024, 2025, and 2026. As you can see, our budget has been stable, hovering at around P900 million only. Our proposed 2026 budget is in fact a slight reduction from our 2025 approved budget owing to
a slight reduction in personnel services from P351,444,000 to P343,443,122.
So there is a slight reduction in personnel services. For our MOOE [maintenance and other operating expenses], it’s almost identical with the previous year’s approved budget and for capital outlay from P49 million down to P32 million,” said ERC chairman Francis Saturnino Juan.
The ERC is targeting to hit P1.065 billion in revenues this year and P1.055 billion in 2026. As of end-June this year, ERC’s total collection stood at P140.949 million.
The agency’s revenues are sourced from the permit fees and the regulatory and supervision fees imposed on power firms. These are collected every September.
“We wish to emphasize that we are generating revenues for the government. Our earned revenues and actual collections for 2024 was P1.7 billion, which is higher than our budget allocation for 2024 at P911.627 million and 2025 at P930.879 million.
By the end of the year, we shall have actually hit the P1-billion mark or higher. So that will again show surplus for our earnings,” Juan told the committee.
He added that a budget higher than the proposed P906 mil-
lion would be beneficial for the agency. “We can be given more... If we can be given a percentage on the use of our revenues, even just a small one, we can beef up the competence of our staff and hire more technical personal with experience to handle the volume of work that is on our table,” said Juan.
Revised rules on RE net metering MEANWHILE , the ERC issued the revised rules for the netmetering program for renewable energy (RE) to streamline the implementation of the program and make RE adoption more accessible to Qualified End-Users (QEs).
One key amendment permits the banking and rollover of netmetering credits toward a QE’s electricity usage across current and future billing periods. In the event of a property ownership change, the credits may be transferred to the new owner, subject to conditions.
The ERC now mandates distribution utilities (DUs) to publish on their websites detailed information on their net-metering programs every quarter.
The amendments also include a revision to section 19 of the rules, making the installation of Renewable Energy Certificate (REC) meters voluntary.
thing in its path.
economic activities.
While this can boost production as affected households replace property that were destroyed by the flood and the national government spends for rehabilitation, Balisacan said the impact is only possible in the “very short term.”
“Every time you have floods, you have typhoons, and assets are destroyed, that reduces the potential of the economy. When assets, physical capital are destroyed, then there’s less productive capacity,” Balisacan said.
Balisacan said efforts to manage the impact of flooding are crucial given the possible medium- and long-term effects it may have on the economy.
Earlier, economists believed the flash floods in various parts of Metro Manila’s largest city over the weekend may have a long-term effect on GDP growth and inflation.
On Saturday, in a span of a few minutes, parts of Quezon City struggled to keep afloat as floodwaters came rushing after a heavy downpour. This left Metro Manila residents and workers stunned as they watched floodwater engulf cars, homes, and just about every-
Quezon City, which was at one point named the capital of the Philippines, is now the most populous city in Metro Manila with over 3 million residents. The National Capital Region (NCR) or Metro Manila has a population of over 14 million as of 2024, according to the PSA.
“It is not the floods themselves but the increasing frequency of unusually large amounts in key economic sectors that may be creating graver consequences. The increasing frequency of floods is creating cumulative economic damage,” Ateneo de Manila University economist Leonardo Lanzona Jr. told BusinessMirror For former Socioeconomic Planning Secretary Dante B. Canlas, the impact on the country’s GDP and inflation will depend on how temporary or permanent these occurrences are. Currently, he said, these are just temporary and will only have a moderate impact on the economy. Canlas told BusinessMirror, however, that in non-agricultural areas like Metro Manila, there may be a slight increase in inflation, but the impact on the rise of commodity prices may not be significant on the country’s GDP growth. (See: https://businessmirror.com. ph/2025/09/01/flash-floods-tohave-cumulative-damage).
Hyundai operating in Subic, Philippine shipyard capacity will significantly increase from 1.3 million to 2.5 million deadweight tons, or from four to five massive oil tankers to about eight such vessels today.
“By 2030, we look forward to this yard employing 4,300 Filipinos. That equates to thousands of families with food on the table, thousands of workers with dignity in their craft, thousands of Filipinos who see shipbuilding as a source of livelihood,” he added. Marcos added that for its part, the Philippine government, through the Technical Education and Skills Development Authority (Tesda), is working to match Hyundai’s investment by training a skilled shipbuilding workforce. He said 24 trainees have thus far competed the Flux-Cored Arc Welding NC I program and are now part of Hyundai’s workforce. Tesda has further awarded 25 more scholarship slots for Shielded Metal Arc Welding NC I and 100 slots for enterprise-based training in Flux-Cored Arc Welding NC I, Pres. Marcos said.
Last month, Hyundai officials said in a media briefing that the firm now employs 1,300 workers at the Subic facility and expects its workforce to reach 2,000 by the yearend.
Ralph David Magno, HyundaiSubic human resource manager, said the firm is now recruiting welders, fitters, painters, production engineers, and heavy equipment operators who have the skills and experience in shipbuilding for the firm’s Subic operations.
Ideal conditions
HD Korea Shipbuilding and Offshore Engineering (KSOE) Industry CEO Kim Sung Joon welcomed the reopening of the Subic shipyard, which he said can help the Philippines become an advanced economy.
He said the country has the ideal conditions to become a major player in the shipbuilding industry with its “blessed maritime environment,” young and highly skilled workforce, and a supportive government.
“For the Philippines, the Subic Shipyard will lay the foundation to position your country as an emerging power in the global shipbuilding market, while also providing the momentum to expedite your smoother and swifter ascent into the ranks of the world’s leading economies,” the HD KSOE official said.
HD KSOE is HHIP’s shipbuilding and offshore divisions.
HHIP has currently made a total investment of US$130 million in the Subic shipyard, which employs a total of 1,200 employees. With Samuel P. Medenilla
ghost projects. These include the three already flagged by Malacanang: St. Timothy Construction Corp., SYMS Construction Trading, and 3K
Rock Engineering. When asked if he will pursue the perpetual blacklisting of beneficial owners of companies involved in these projects, he replied that the agency will look into that possibility given the outcome of the Senate hearing on Monday, when lawmakers flagged companies owned by the same beneficial owners. Nonetheless, Dizon said blacklisting is only the beginning.
The projects themselves will need to be corrected and re-bid, as flood-prone communities cannot be left waiting while investigations drag on.
“We have to fix the projects and the people need the projects,”
he said. “We have to do it as soon as possible, kasi kawawa yung mga tao.” As this developed, Dizon said the DPWH will “cooperate fully” with the independent commission that Mr. Marcos is forming to investigate flood control anomalies. That said, he said the ongoing internal investigation started by Bonoan will be halted.
“I personally believe that an organization should not be investigating itself. To me, there is inherent conflict in that,” Dizon said. Furthermore, he welcomed the possibility of the probe going as far back as the previous administration, during the time of former Public Works Secretary and now Senator Mark Villar.
“These problems do not just date back three years, four years, five years, or six years ago. These took a decade,” he said.
House summons five flood control contractors
By Jovee Marie N. dela Cruz @joveemarie
THE House Infrastructure Committee (Infra-Comm) on Tuesday ordered the issuance of subpoena against five contractors who failed to attend its inquiry into alleged irregularities in flood control projects, as lawmakers vowed to hold accountable all those behind ghost, substandard, and overpriced projects.
Subpoenaed were the owners of Royal Crown Monarch Construction and Supplies Corporation, SYMS Construction Trading, Alpha and Omega General Contractor and Development Corporation, St. Timothy Construction Corporation (STCC), and Wawao Builders Corporation.
Party-list Rep. Terry Ridon of Bicol Saro, chairman of the House Committee on Public Accounts, ordered the issuance of the subpoenae after notices to appear went unanswered.
The joint panel—composed of the Committees on Public Accounts, Good Government and
Public Accountability, and Public Works and Highways—is investigating suspected ghost projects, substandard construction, and questionable budget insertions in flood-mitigation programs nationwide.
Preliminary findings flagged SYMS Construction and Wawao Builders for alleged ghost works in Bulacan, while media reports identified Alpha and Omega and STCC as firms linked to contractor Sarah Discaya, whose projects are now under scrutiny. Besides the owners of the five construction companies who did not appear in Tuesday’s hearings,
all other contractors appeared before the Infra-Comm to serve as resource persons.
Ridon said the goal of the hearing is to build a complete picture of how budget allocations are formulated starting with the National Expenditure Program (NEP) and how, during budget execution, some projects are either not implemented or substandard.
Baliuag project
THE Infra-Comm investigation’s first focus is the P55-million Baliuag, Bulacan flood-control project for a reinforced concrete river wall, which was never built.
“We have the documents to build cases against officials of the DPWH [Department of Public Works and Highways] First Engineering District Office and the contractor, Syms Construction Trading. Since the project cost P55 million, beyond the P50 million plunder threshold, plunder charges must be filed,” Ridon said.
The panel also cited two substandard flood-control projects in Calumpit, Bulacan built by St. Timothy Construction and Wawao Builders, which were found to have deteriorating concrete and exposed loose cables just years after completion.
Beyond accountability, Ridon said the investigatin aims to introduce reforms such as permanently blacklisting erring contractors
and involving the private sector in project inspections to cut corruption lines.
Citing past cases like the fertilizer fund scam and Priority Development Assistance Fund (pork barrel) scandal, where lawmakers and private individuals were convicted, Ridon said the current inquiry would be pursued “without fear or favor.”
“The President himself called on us during his SONA to investigate ghost, substandard, and overpriced flood control projects. We will continue what is good and end what is not,” Ridon said.
He said by emphasizing the importance of functional infrastructure, “Flood control is about protecting lives and property. We owe it to the Filipino people to ensure their taxes are spent wisely.”
Disclose links
TO preserve impartiality, the joint panels adopted a motion by Partylist Rep. Chel Diokno of Akbayan requiring House members to disclose any financial or business ties with flood control contractors.
“I believe we need to assure the public that this investigation will not be a whitewash and that no members of the three committees conducting this investigation have a conflict of interest,” Diokno said.
He stressed the need for full disclosure, urging lawmakers to declare any financial, business,
JBC interviews Remulla despite lack of Ombudsman clearance
Tor pecuniary interest that may be directly or indirectly affected by the investigation.
Las Piñas Rep. Mark Santos backed Diokno’s motion, emphasizing that the disclosure requirement was not a form of prejudgment but a measure to uphold impartiality.
“This is not to cast doubt on anyone’s integrity, but rather to protect the impartiality of the committee and avoid the perception of bias. Our duty is to ensure that decisions are made solely on the merits of the issues before us, free from any conflict of interest,” Santos said.
House rules, laws
HOUSE rules and existing laws already prohibit legislators from taking part in deliberations where they may have financial interests. Rule 9, Section 33 of the House rules and Section 9 of the Committee on Public Accounts’ internal rules both provide that members must inhibit themselves from such proceedings. These provisions align with Republic Act 6713, or the Code of Conduct and Ethical Standards for Public Officials and Employees, as well as Article VI, Section 12 of the Constitution, which requires officials to avoid conflicts of interest and fully disclose business and financial interests.
Diokno also cited Sen. Panfilo Lacson’s revelation that at least
67 members of the House during the 19th Congress were engaged in construction businesses that benefited from projects they had funded.
Party-list Rep. Leila de Lima of Mamamayang Liberal also warned that lawmakers themselves may be implicated and thus cannot credibly investigate the matter.
She said constitutional and legal provisions require public officials to disclose any financial or business interests in government projects.
De Lima emphasized that the conflict of interest issue at hand is “not theoretical, not distant, but real,” warning that it could undermine both the proceedings and public perception of the inquiry.
Quoting the legal maxim nemo judex in causa sua (no one should be a judge in their own case), de Lima argued that lawmakers who could potentially be subjects of the investigation should not be allowed to shape or lead the inquiry.
The lawmaker added that public trust in congressional investigations has long been eroded owing to the widespread perception of corruption in infrastructure spending, particularly in flood control projects. Reports of “ghost projects,” kickbacks, and substandard work linked to elected officials have made the public skeptical of lawmakers’ capacity to police themselves, she said.
By Joel R. San Juan @jrsanjuan1573
HE Judicial and Bar Council (JBC) on Tuesday pushed through with the public interview of Justice Secretary Jesus Crispin Remulla sans clearance from the Office of the Ombudsman where he is facing pending administrative and criminal complaints.
Remulla, in an interview with reporters following his interview by the JBC panel for the Ombudsman position, said he would file a motion before the Ombudsman for the immediate resolution of the complaint which was filed by Sen. Imee Marcos.
The complaint stemmed from the investigation “in aid of legislation” conducted by the Senate Committee on Foreign Relations headed by Marcos in connection with the with the alleged “kidnapping” and subsequent turn-over of former President Rodrigo Duterte to the International Criminal Court in The Hague, the Netherlands last March.
Marcos, a close associate of Vice President Sara Duterte, spearheaded the investigation to identify the government officials
Escudero asks Palace to issue ‘negative list’ of public works projects
By Butch Fernandez @butchfBM
ENATE President Francis Jo -
Sseph G. Escudero on Tuesday proposed that Malacañang draw up a “negative list” of infrastructure projects that cannot be funded under the 2026 national budget.
“Instead of waiting for questionable projects to slip into the budget and then expose them after the fact, we should be proactive. The Palace should make it clear from the start that these kinds of projects will not be entertained,” Escudero said.
who may have violated certain laws in turning Duterte to the ICC despite the country’s withdrawal from the Rome Statute on March 19, 2018 which took effect a year after.
She eventually charged Remulla, his brother Interior Secretary Juanito Victor Remulla, then National Police (PNP) Chief Gen. Rommel Francisco Marbil, PNP Criminal Investigation and Detection Group (CIDG) commander Maj. Gen. Nicolas Torre III and Department of Foreign Affairs (DFA)-Special Envoy on Transnational Crime Ambassador Markus V. Lacanilao before the Ombudsman with graft, arbitrary detention, grave threats, false testimony, perjury, usurpation of authority or official functions and for violation of Republic Act 7438 or An Act Defining Certain Rights of Person Arrested, Detained or Under Custodial Investigation As Well as the Duties of the Arresting, Detaining and Investigating Officers.
“That’s still pending. I’ll be filing a motion to resolve as soon as possible…Not yet. That’s why I’m still applying for it,” Remulla answered when asked about the status of the complaint and whether the Ombudsman has
already given him a clearance. Remulla also defended his decision to hand over the 80-year-old former President to the ICC.
“That’s our job to keep the country stable, to prevent violence, to prevent the happening of any untoward acts, and I think we were able to peacefully bring him out abroad to face the charges against him without hurting anybody physically,” the DOJ secretary said.
“I think that’s the most important thing. It’s the most peaceful way of doing what had to be done,” he added.
Prior to the rift between the Duterte and Marcos families and allies, President Marcos and his Cabinet secretaries including Remulla, maintained that the ICC has lost jurisdiction over the country following its withdrawal from the Rome Statute.
SC spokesman Camille Sue Mae Ting explained to reporters that a clearance from the Ombudsman is one of the requirements for applicants under the 2020 Revised Rules of the JBC.
Under Rule 4 (Integrity and Probity), applicants with pending administrative and criminal cases
are disqualified for appointment to any judicial posts or to the positions of Ombudsman, Deputy Ombudsman Secial Prosecutor or Chairperson or Regular Member of the Legal Education Board.
In the case of Remulla, Ting noted that the justice secretary was given until the day of the JBC’s final deliberations to submit its clearance.
The JBC is expected to release its shortlist of nominees for the Ombudsman post during its final deliberations, which has yet to be announced.
“On the day of deliberations for the shortlist, the applicants should already have the Ombudsman clearance. If none yet, they cannot be considered, they cannot be included on the shortlist,” Ting added.
She stressed that it was not the first time that the JBC had allowed an applicant to submit a clearance from the Ombudsman on the last day of their deliberations.
“There were instances, especially for the appointments of justices and judges, where the JBC allowed applicants to submit
CPP-NPA rebs take advantage of corruption issue to recruit
THE National Task Force to End Local Communist Armed Conflict (NTFElcac) on Tuesday warned of the communist rebels’ “tactic” of exploiting public outrage over government corruption to recruit new members.
“The most dangerous form of corruption is not only the plunder of public coffers but the corruption of the Filipino mind,” the NTFElcac executive director, Undersecretary Ernesto Torres Jr., said in a statement.
Torres said it has been established that communist rebels take advantage of public indignation over government corruption to recruit new members, particularly from the youth and the vulnerable sectors.
“Former rebels, especially the youth, have long attested that corruption in the bureaucracy was among the systemic reasons they were agitated into taking up arms,” he said.
“They have also revealed how the Communist Party of the Philippines–New People’s Army–National Democratic Front [CPP–NPA–NDF] exploits this reality by preying on the youth, students, and vulnerable sectors, including even public servants, by twisting legitimate grievances into recruitment tactics for violent extremism.”
NTF-Elcac issued the statement as corruption issues involving government flood control projects continue to make the headlines.
Torres said there is a need to ensure that schools and communities remain safe spaces for legitimate debate and constructive civic engagement.
“We have to be alarmed when, instead of fostering genuine love for our country, they become pipelines for terror grooming by the CPP-NPA-NDF,” he said.
The task force urged parents, educators, civil servants, and communities to “remain vigilant and guard not only our resources but the minds of our youth.”
It also called on lawmakers to work on purging the government of corrupt bureaucrats, “while also enacting measures that ensure terrorist recruiters are held accountable under the law.” PNA
Legislator traces back flood control scam to Duterte administration
THE multibillion peso flood control scam now under investigation can be traced back to questionable budget insertions during the Duterte administration, a leader of the House of Representatives said on Tuesday, warning that years of unchecked practices allowed ghost and substandard projects to thrive all over the country.
During the joint hearing of the threepanel House Infrastructure committee, Manila Rep. Joel Chua, chairman of the Committee on Good Government and Public Accountability, said that the controversy was not sudden but the product of longstanding budget insertions that proliferated during the Duterte years.
He cited Commission on Audit (COA) reports from 2017 to 2020 that flagged thousands of delayed, defective, or unimplemented projects worth hundreds of billions of pesos.
“Recent weeks have brought to light anomalies in national infrastructure projects, exposed by the President himself and other officials. We’ve seen the same contractors repeatedly awarded flood control projects—many later revealed to be ghost projects, poorly constructed works, or projects given to undercapitalized contractors,” said Chua.
PRESIDENT Marcos on Tuesday called on the people to “rediscover and reclaim” the nation’s maritime identity, stressing that protecting the seas is central not only to sovereignty but also to the country’s survival and legacy for future generations.
“The celebration of Mana Mo 2025 is a clarion call to rediscover and reclaim our provenance as a seafaring country. As we continue building a Bagong Pilipinas, let us unite our people towards caring for our seas and shores, for we care to protect not only our nation’s sovereignty but also those who will inherit our legacy,” Marcos said in his message for the Maritime and Archipelagic Nation Awareness Month (Mana Mo).
The President said the Philippines’ destiny has always been tied to the sea, which he described as both a cradle of prosperity and a crucible of conflict throughout history.
The Infra-Comm, composed of the House Committees on Public Accounts, Good Government and Public Accountability, and Public Works and Highways, has launched its formal inquiry into anomalous flood control projects and related infrastructure programs.
He added that in 2018, the Philippine Center for Investigative Journalism (PCIJ) exposed the involvement of major contractors in delayed or abandoned flood control projects, while in 2019, the House Committee on Appropriations found billions worth of projects inserted into the budget without consultation, opening the door to corruption. By 2020, even then-President Rodrigo Duterte admitted that ghost projects were rampant nationwide.
“This is not a new problem—it is inherited, accumulated, and neglected. It is now surfacing like a wound long left untreated,” Chua stressed. He pointed out that misfeasance in project execution—such as poor consultations, weak bidding processes, and lack of due diligence—resulted in lowquality infrastructure. Worse, malfeasance allowed ghost projects to consume public
“The sea has been both our cradle and our crucible. Every century of our history has been measured by its tides, carrying the seeds of prosperity and the storms of conflict,” he said. Effective maritime governance, Marcos said, is crucial for harnessing resources, ensuring community safety, and upholding national sovereignty. “In mastering our seas lies the strength of our economy, the safety of our communities, and the dignity of our sovereignty,” he said. He urged institutions to align with law, communities to embrace stewardship as identity, and leaders to govern with foresight “beyond their own time.” The President’s call comes as tensions continue to escalate in the West Philippine Sea, where Chinese vessels have intensified their presence within the Philippines’ exclusive economic zone. Manila has repeatedly protested China’s aggressive actions, with lawmakers urging the President to raise the issue at the United Nations General Assembly later this month in line with the 2016 arbitral ruling favoring the Philippines. Samuel P. Medenilla with PNA
‘Rediscover, reclaim nation’s maritime identity’
See “Remulla,” A7
See “Flood,” A4
Wednesday, September 3, 2025
Economy
DHSUD cites capacity, funding gaps in slashing housing goal
By Bless Aubrey Ogerio
BUDGET bottlenecks, staffing gaps and the limited capacity of private developers have forced the Department of Human Settlements and Urban Development (DHSUD) to scale down its flagship housing target to just 300,000 units until 2028.
During budget deliberations at the House of Representatives, Party-list Rep. Paolo Henry Marcoleta of Sagip pressed the agency on its declining capacity to spend appropriated funds, noting that its obligation-to-appropriation ratio slipped to 62.7 percent in 2024, leaving P1.54 billion unused.
“In 2022, the DHSUD had an obligation to appropriation ratio of 92.5 percent, leaving P110.8 million unused. In 2023, it declined to 88.4 percent with P208 million unspent,” Marcoleta said. “This is in juxtaposition to the number of housing needs and pending settlement-related cases that has steadily increased over the years,” he added. For his part, Housing Secretary Jose Ramon Aliling explained that much of the unutilized funding came from unspent subsidies under the Pambansang Pabahay para sa Pilipino (4PH) program.
“A big factor is the interest subsidy budget not being used because production was low. The annual subsidy is around P700 million,” Aliling said partly in Filipino. “Another is IDSAP [Integrated Disaster Shelter Assistance Program], but we already caught up on that.”
Aliling confirmed that the 4PH’s original goal of six million homes in six years has been cut to 300,000, saying the earlier figure was unattainable.
“This is the realistic number. Whether we like it or not, we have to be transparent that we will not hit six million,” Aliling told the panel of lawmakers.
The scaled-down plan sets a goal of 16,754 units in 2025, rising to 90,228 in 2026 and 121,274 in 2027, before tapering to 71,744 units in 2028.
This comes after DHSUD already fell short of its previous projections: in 2023, only 149,343 houses were built against a one-million target; in 2024, just 116,500 units were completed.
“Even if we pour money into it, in reality, we cannot because we do not have the capacity, developers, contractors, and others to support that. The only realistic one now is 300,000,” Aliling explained.
Marcoleta also pointed to the department’s manpower gap, citing 524 unfilled plantilla positions—about 31 percent of its 1,866 authorized posts in 2024.
“The department is understaffed and consequently has [a] higher tendency to underperform,” he said.
Aliling said the department has begun addressing the vacancies by opening the posts for applications, reviewing staffing needs in regional offices and urging contract-ofservice employees to apply.
“In October, we will also have a job fair. But some posts are difficult to fill, especially technical positions like environmental planners and architects,” he said.
For 2026, DHSUD has been allocated P5.5 billion, lower than the P6.5 billion set for 2025.
Nueva Vizcaya miner on carpet for alleged violations
TBy Jonathan L. Mayuga @jonlmayuga
HE regional office of the Mines and Geosciences Bureau in Cagayan Valley has formed a team to investigate Woggle Corporation following alleged violations during the company’s exploration activities in Dupax del Norte, Nueva Vizcaya.
The investigation was prompted by a request from Nueva Vizcaya Rep. Timothy Joseph E. Cayton.
MGB Region 2 Director Mario A. Ancheta told the lawmaker in a letter dated on August 29 that the agency plans to investigate Woggle for alleged violation of the conditions in its mining exploration permit.
To recall, Cayton, a former mayor of Dupax del Norte, sent
letters on August 20 and 26 urging the MGB to look into complaints from constituents and local governments.
The complaints alleged that Woggle’s exploration work involved the uprooting of trees and trespassing on private property.
The Barangay Council of Oyao, a farming community in Dupax del Norte, said no proper public consultation was held before the exploration. Barangay Oyao Chairman Junior Taligan said an August 15 meeting was only an “information and education campaign,” not a valid public consultation.
In a letter to Woggle Corp. president Lorne Harvey on August 25, the barangay council denied the company’s request for a certificate of consultation, a requirement under its exploration permit.
The council also expressed opposition to the exploration, citing threats to the community’s environment and livelihood.
Cayton asked the MGB to verify the company’s compliance with its exploration permit and approved work program, and to determine if required information campaigns and public consultations were properly conducted. He also urged the suspension of field-level exploration if violations of the permit, the Mining Act (Republic Act 7942), or environmental regulations were confirmed.
MGB Region 2 agreed to provide its findings and requested documents to Cayton’s office, but did not give a timeline for completing the investigation.
Cayton warned that the investigation’s outcome could lead to
further administrative or legislative measures.
Nueva Vizcaya is home to two large-scale mining projects of OceanaGold Corp. in Didipio and FCF Minerals, a unit of Metals Exploration, in Runruno. Metals Exploration was granted an exploration license by the MGB on August 7 for a 3,100-hectare area in Dupax del Norte, targeting gold and copper deposits. The company plans to use its existing Runruno ore processing plant to handle any ore extracted.
Darren Bowden, Metals Exploration’s chief executive, previously said he was confident in the new exploration project.
“We have a great opportunity to quickly unlock value from the Dupax del Norte project and hopefully extend the ore processing operations at Runruno,” he said.
First Gen holds climate summit for youth leaders
CLEAN energy provider First Gen Corporation has organized a youth leaders’ summit designed to provide young people with the knowledge and skills that will help them address climate- and energy-related issues in their communities.
The conference, dubbed Youth for Climate and Energy Leadership Summit (Ycels) and held separately in Batangas City and Pantabangan town in Nueva Ecija, gathered 62 youth leaders from public schools and organizations in selected communities hosting power plants affiliated with First Gen.
Entry of imported rice OK until September 15
IMPORTED rice shipments
could still enter the Philippines until September 15 despite the scheduled 60-day ban, the Department of Agriculture (DA) said on Tuesday.
This, as President Marcos recently issued an Executive Order (EO) suspending the imports of regular and well-milled rice, effective September 1 until October 30, 2025.
Agriculture Assistant Secretary Arnel de Mesa said only rice shipments that left their respective countries of origin by end-August would be allowed entry, citing an order issued by the Bureau of Plant Industry (BPI).
“The BPI will no longer issue an SPSIC [Sanitary and Phytosanitary Import Clearance] for shipments on September 1, but for those that left the country of origin before the ban began, they can still enter [until] September 15,” de Mesa said. He added that only four ports, specifically Manila, Davao, Cagayan de Oro, and Cebu, would cater to rice imports arriving before the cutoff.
“So, if shipments left the country beyond August 31, they won’t be allowed to enter. If they ever arrive [beyond the allowable period], these
will be returned to the country of origin,” de Mesa said.
Meanwhile, the DA official noted there were no major price movements in retail pricing of imported rice in the market at P42 to P45 per kilo, barely two days after the import ban was imposed.
“There are many stocks of imported and local rice in the market right now, so we’re not expecting major increases in the price of rice in the market,” he said.
The government’s decision to impose a temporary import ban comes as farmgate prices of palay plunged to as low as P8 per kilo in some areas. Industry sources cited the unabated entry of imported rice as the reason behind this steady decline.
Based on government data, 2.67 million metric tons (MMT) of rice have entered the country as of August 14. The country’s rice production fell by nearly a million tons to 19.09 million metric tons (MMT) last year, from a record-high 20.06 MMT recorded in 2023 due to El Niño.
Because of the supply shortfall caused by the drought, the country’s rice imports reached an alltime high of 4.8 MMT last year.
DA to launch app on ₧20 rice
TBy Ada Pelonia @adapelonia
HE Department of Agriculture (DA) will launch an application on October 1 to enhance the P20 rice program’s system as it continues to expand the phased rollout’s coverage.
The app would map out efficient logistics, ensure transparency, and prevent abuse, according to the agency.
Such an initiative forms part of the government’s efforts to scale up the cheaper rice program’s beneficiaries nationwide by 2026, aimed at reaching 15 million households.
Initially launched for solo parents, senior citizens, 4Ps beneficiaries, and persons with disabilities, the P20 rice program now covers minimum wage earners, rice farmers, and fisherfolk.
One of the first pilot areas is Navotas City, which has a list of 4,000 accredited drivers. On Friday, Laurel led the rollout of the fisherfolk program at the Navotas Fish Port Complex, alongside simultaneous launches in Sual, Pangasinan, and Lucena City in Quezon province. Eligible fisherfolk can purchase up to 10 kilos per month by showing either their Registry System for Basic Sectors in Agriculture ID, FishR ID, or a valid QR code from the online system.
In addition, the DA said it will soon include beneficiaries of the Department of Social Welfare and Development’s Walang Gutom program and low-income staff of the Department of Education (DepEd) in the program.
During the gathering, resource speakers and experts from First Gen and partner organizations shared their knowledge with the youth leaders about climate systems, renewable energy, community problemsolving and other relevant topics. Ycels included these topics to help hone the skills of the youth leaders as community leaders by expanding their knowledge about the environment and turning this knowledge into workable climate solutions.
The Ycels, which forms part of First Gen’s “Create for the Climate” flagship environmental program, likewise included practical, hands-on workshops on community visioning, root cause analysis, and climate action project development. Through these workshops, the youth leaders developed proposals that addressed real-world issues in their schools and
communities. Each of the top and most innovative project proposals developed at the summit received rewards from First Gen, a P30,000 seed capital and mentoring support meant to bring these ideas to life. These included a proposal for turning discarded plastic bottles into cleaning tools; another one for installing a solar-powered vending machine that could operate during a power outage; and yet another one calling for the installation of water dispensers that could cut down on plastic bottle waste in schools.
Representatives from partner schools’ Youth for Environment in Schools Organization, Supreme Secondary Learner Government, Boy Scouts of the Philippines, and partner barangays’ Sangguniang
Flood. . .
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“Our task is to determine exactly where the loopholes lie. Is this problem confined to flood control alone?” Chua asked, hinting the investigation could expand to other projects.
He stressed that the inquiry is not about finger-pointing among agencies but about identifying how corruption slipped through.
“We are here to determine where corruption entered, how it became possible, and who benefited,” Chua said.
“This is about good governance. Every time a typhoon strikes, our people sink deeper into floodwaters. For the security of lives and livelihoods, and for a future
Kabataan, and Katipunan ng Kabataan participated in Ycels. Resource speakers from partner organizations included Kato Sarmiento of the Oscar M. Lopez Center; Louie Tesalona, interim executive director of the Foundation for the Philippine Environment; JR Demecais, co-founder of Ygoal Inc.; Raf Dionisio, president of Make A Difference Earth; Danielle Torralba, information officer at the Climate Change Commission; and Mark Toledo, Abby Amarillento, and Maj Miñoza of Abot Tala Community.
Ged Cajucom, First Gen vice president; and Joshua Reyes, acting head of plant operations of First Gen’s hydro power plants in Nueva Ecija also joined as resource speakers.
no longer burdened by past neglect and corruption, we must act now,” he added.
Flawed budget process.
SURIGAO del Sur Rep. Romeo Momo, chairman of the House Committee on Public Works and Highways and co-chairman of the Infra-Comm, said the flood control mess is rooted in systemic flaws in the budget process and questionable agency-driven insertions.
“Why are there reports of P469 billion in repeat funding for projects that are already completed or no longer needed? ” Momo asked, pointing out how anomalies arise from how items are inserted into the National Expenditure Program (NEP).
He cited cases where genuine floodprone areas such as Marikina and Antipolo were left underfunded, while
Agriculture Secretary Francisco Tiu Laurel Jr. also recently announced that the subsidized rice would be available to transport workers, such as jeepney and tricycle drivers, starting September 16.
“We will initially roll out the P20 rice program for tricycle and jeepney drivers on September 16 in five pilot areas,” Laurel said. “We’re coordinating with the Department of Transportation [DOTr ], which holds the Toda [Tricycle Operators and Drivers Associations] database.”
Laurel assured the public that there are sufficient rice stocks to sustain the subsidized rice program, citing the planned auction of 1.2 million bags or 60,000 metric tons (MT) of rice from the National Food Authority (NFA) in October. The rice will first be traded in September to government relief agencies, and whatever is left will be bedded out to the private sector.
“We are testing each rollout step to ensure success as we scale,” Laurel said. “This is about more than affordability—it’s about building a reliable system that works nationwide.”
completed projects continued receiving allocations—evidence, he said, of distorted priorities. Momo, a retired official of the Department of Public Works and Highways, explained that while Congress authorizes appropriations through the General Appropriations Act (GAA), the NEP originates from agencies and passes through the Department of Budget and Management (DBM) and the Development Budget Coordination Committee (DBCC). He noted that the four stages of the budget process—preparation, authorization, execution, and accountability—were meant to ensure transparency but are now riddled with loopholes. Weak enforcement of safeguards like performance bonds and retention funds, he said, has further enabled waste and poor implementation. Momo stressed that the problem is systemic and has persisted across administrations, even into the Marcos presidency, which has so far presided over two budget cycles.
He emphasized that legislators are often unfairly blamed for such anomalies, when in fact the NEP originates with agencies. He cited weaknesses in oversight mechanisms like performance bonds and retention funds, which were meant to protect against poor implementation but have not been consistently enforced. Momo stressed that the problem is systemic and has persisted across administrations, even into the Marcos presidency, which has so far presided over two budget cycles.
www.businessmirror.com.ph
PEZA to launch aquamarine economic zones for high-end fish processing in ’26
By Andrea San Juan @andreasanjuan
THE Philippine Economic Zone Authority (PEZA) is eyeing to release by next year the guidelines regarding the setting up of aquamarine economic zones in the country which will focus on “high-end” fish processing with the goal of strengthening food security and spurring export revenues of fish and seafood.
L udwig O. Daza, Department Manager for Ecozone Development Department of PEZA, told the B usiness M irror on the sidelines of the hearing before the House Committee on Economic Affairs on Tuesday that “we have to come up first with the guidelines and then publish it as we have done with KIST Park and Pharma ecozones. We’re collaborating
with the [Bureau of Fisheries and Aquatic Resources] BFAR.”
“I’m not putting up an exact timeline but next year. We have to collaborate with other agencies. That’s what’s taking it long,” he also told this paper.
Daza said these ec onomic zones, once implemented, would house high-end fish processing. He said these will be established within the country’s economic zones “not only for export to grow our export revenues, but as a means of food security.”
“Lik e the one that I visited in Japan, they don’t anymore catch. They have this aqua farm where, until it grows, it’s there in that area. You’re able to control the texture of the meat because you yourself formulate the feeds for this tuna fish. So we want that high-end processing,” the PEZA official explained.
The PEZA official said this at the hearing
Comelec gears up for Bangsamoro polls: Ballot deployment begins September 16
By Justine Xyrah Garcia
THE Commission on Elections
(Comelec) is set to begin deploying
official ballots and other materials for the first Bangsamoro parliamentary elections on September 16.
Julio Theddeus P. Hernan, director of the Comelec’s Packing and Shipping Committee, said the deployment will be done in a single bulk shipment to cut costs and ensure simultaneous delivery.
“For the non-accountable forms and supplies and [automated election system] related equipment and other peripherals, including accountable forms and official ballots, we will endeavour to have them dispatched simultaneously from September 16 to 30. For a one-time shipment, we will containerize all cargoes so that all allocations for a particular point of destination will arrive at the same time,” Hernan told stakeholders in a recent briefing.
Additional allocations, if necessary, will be dispatched from October 1 to 8. Unlike in the May midterm polls, Hernan said the Comelec will no longer rely on a private provider for shipping. The poll body’s packing and shipping committee will directly handle the deployment.
“F rom the source warehouse, we will bring [the materials] to the Port of Manila and [they] shall be conveyed to different ports of entry in Mindanao,” he said.
Ballots and supplies for Tawi-Tawi and Basilan will be shipped through the Zamboanga port, while those for Lanao del Sur will pass through Cagayan de Oro.
E lection materials for Maguindanao del Sur, Maguindanao del Norte, and the Special Geographic Areas (SGA) will be delivered via Davao port.
Hernan reminded stakeholders that only election officers are authorized to retrieve and distribute the materials in their respective areas.
N on-accountable forms must be surrendered to provincial treasurers, while official ballots will be delivered to city and municipal treasurers.
A utomated election system equipment and peripherals, meanwhile, will be handled by Comelec regional officers for distribution to precincts.
The Comelec earlier confirmed that ballot printing for Basilan, Tawi-Tawi, and the SGA has already been completed.
Around 2.3 million voters are expected to cast their ballots in the Bangsamoro parliamentary elections on October 13.
Rented PCAB licenses new entry point in flood project anomalies–senators
By Lorenz S. Marasigan @lorenzmarasigan
HE renting of Philippine
TContractors Accreditation Board (PCAB) licenses has become the entry point in the government’s multibillion-peso flood control program, enabling unqualified contractors to corner projects through alleged front firms and recycled licenses.
Senators aired this warning at the Senate Blue Ribbon Committee hearing on Monday, as they grilled both the Department of Public Works and Highways (DPWH) and the PCAB over why companies that had been suspended, blacklisted, or flagged for shoddy performance continued to win flood control contracts.
L egislators pointed to firms included in Malacanang’s list of 15 top flood control contractors, such as St. Gerard and St. Timothy Construction, which were either blacklisted or cited for incomplete projects, yet managed to renew their licenses and remain eligible for new government deals.
Former Department of Public Works and Highways (DPWH) Secretary Manuel Bonoan admitted that the current prequalification process relies mainly on documents submitted by
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“Babaha ng mga walang kwentang projects kung hindi natin i-didetalye kung anu-ano ang dapat ipagbawal na projects. There should be zero budget for zero-benefit projects,” said Escudero.
as the investment promotion agency wants to go beyond the land-based economic zones.
Ask ed on what pushed PEZA to get the ball rolling with this type of ecozone, Daza said the Philippine Development Plan 2023-2028, particularly the “revitalized industries” part, mandates PEZA to expedite the implementation of the ecozone transformation roadmap.
T he roadmap covers different types of Special Economic Zone registrable under PEZA to include new models incorporating townships, such as the Agro-Forestry Ecozone; Aquamarine Park; Defense Industrial Complex; Halal Hub; Island City Ecozone; and the Knowledge, Innovation, Science and Technology Park (KIST Park), among others.
Daza divulged tha t while the guidelines for the aqua marine ecozones are yet to be
finalized, PEZA already visited an aqua farm particularly in Taiwan as the Philippines aims to replicate this concept.
“We visited an aqua farm in Taiwan. They’re into grouper. In Tagalog, it’s lapulapu. They have this giant lapu-lapu and some of them are sold and some of them are grown into mature fish and turn into sashimi,” the PEZA ecozone development manager told this newspaper.
Daza r evealed that the Philippines do not have this yet. As such, he pointed out: “So it’s an ideal because they pump ocean water to that aqua farm. They utilize the aqua farm and they grow the grouper. So we want that also. You allow this technology to come to the Philippines.”
Apar t from the PDP, another legislation that could enable the development of aquamarine ecozones is the Blue Economy Act that was passed but has not been
enacted into law.
“P robably this year, another push for that Blue Economy,” he said. Daza also undersc ored that aquamarine ecozones hold “a lot of potential” in the country.
“So, it’s not just the municipal waters where you put up your aqua farm, It should also include the area close to the foreshore area where this fish will be processed. There’s cold storage,” the PEZA ecozone development official explained to this newspaper.
T his, he said, is what PEZA envisions.
While it has not come into fruition, Daza said: “We’re into this policy and we’re getting all the comments from the experts on how to do this.”
O n the fish products that may be churned out from this type of economic zone in the country, these may include high-value fish
DHSUD seeks to modernize Housing Act to strengthen protection for urban poor
By Bless Aubrey Ogerio
THE Department of Human Settlements and Urban Development (DHSUD) is seeking amendments to the three-decade-old Urban Development and Housing Act (UDHA) to modernize policies for socialized housing and improve protection for the urban poor.
During House budget deliberations on Monday, DHSUD Secretary Jose Ramon Aliling said revising Republic Act 7279 is part of the agency’s legislative agenda, citing discussions with lawmakers on updating its provisions.
“Mr. Chair, we already talked about this with the housing and committee chair, that we will go around to update this law or policy,” Aliling told the budget panel partly in Filipino, in response to a query from Akbayan Party-list Rep. Chel Diokno on
whether amendments were being pursued.
The UDHA provides the framework for socialized housing, tenure security, eviction and resettlement procedures and the participation of both the private sector and urban poor communities.
However, housing officials aim to pursue these changes to address gaps in implementation and respond to evolving challenges faced by informal settlers.
Diokno urged DHSUD to ensure that amendments include stronger safeguards for humane resettlement, citing longstanding problems where relocated families struggle with poor living conditions and a lack of livelihood opportunities.
“I hope that you would also include the conditions and provisions on humane resettlement... sometimes they are forced out, there are demolitions, but when they are transferred, they have no choice but to return because there is no work and
Mahatao FOB part of PHL
ARANKING Philippine Navy (PN) official on Tuesday said the activation of the forward operating base (FOB) in Mahatao, Batanes is part of the military’s ongoing shift from territorial to external defense.
contractors—including their licenses, list of equipment, and net contracting capacity.
T his system, lawmakers argued, is easily gamed through “license rentals,” subcontracting arrangements, and even the creation of dummy corporations through corporate layering.
Sen. Risa Hontiveros pressed Bonoan, whose resignation took effect on Monday, for his “institutional knowledge” on whether DPWH suspected such practices.
“In the field , there are certain components of the projects that may be locally implemented. But again, at the end of the day, it will still be the responsibility of the contracting party,” Bonoan replied.
S en. Joel Villanueva said the PCAB should be able to prevent such practices, which circumvent laws and regulations.
“H ow do we prevent the purchase of PCAB licenses? Clearly there is no mechanism to check [if a company involved in corruption can still win another contract],” he said.
S enate Minority Leader Vicente Sotto III cited the case of St. Gerard Construction, which was blacklisted by DPWH in 2020 but still had its license renewed.
In a press briefing on Tuesday, PN spokesperson Rear Admiral Roy Vincent Trinidad said opening of the Mahatao FOB is in line with the shift to the so-called Comprehensive Archipelagic Defense Concept (CADC), which aims to defend all of the country’s territories including its 200 nautical mile exclusive economic zone.
With this development, Trinidad said the Philippines defense posture needs facilities
the conditions are inhumane,” Diokno said in Filipino.
Aliling replied that the department would incorporate the proposal.
Housing advocates have likewise raised accessibility concerns. At the Urban Poor Housing Summit on July 21, Kadamay secretary-general Eufemia “Ka Mimi” Doringo said existing structures exclude the poorest communities.
“This has never been the answer to our call for decent, affordable and massoriented housing for the poor,” Doringo said in Filipino.
Recently, the enactment of the National Housing Authority Act of 2025, or Republic Act 12216, extended the corporate term of the NHA and rationalized its powers to strengthen housing programs for the poor.
For 2025, DHSUD has been allocated P6.5 billion, though its budget is projected to decline to P5.5 billion in 2026.
shift to external defense
that could sustain its military forces further towards the so-called “external environment.”
“Mahatao naval operating base or FOB is one such [facility], one such effort to be able to support and sustain our forces for longer durations when deployed in our maritime domain,” Trinidad stressed.
The Mahatao FOB was formally activated last August 28.
As this developed, the PN on Tuesday said that one of its guided-missile frigate, the BRP Antonio Luna (FF-151), is still in good condition despite sustaining some minor dents at its portside during a recent naval drill in Malaysia.
This was stressed by PN spokesperson
Captain Marissa Arlene Martinez in an interview with reporters.
She said that the mishap occurred last August 27 at the Royal Malaysian Navy base in Lumut, Malaysia.
BRP Antonio Luna was sent to Malaysia to take part in the naval exercise, dubbed “MALPHI LAUT 2025,” that was held from August 25 to 29.
“When she was carefully maneuvering a narrow space, unfortunately it incurred superficial damage to its [portside] freeboard,” she added.
Martinez said the ship was declared mission capable after the incident and “was able to participate in all serials of the at-sea events.” Rex Anthony Naval
Sen. Sotto: We need stronger laws on flood-control projects
SBy Butch Fernandez @butchfBM
ENATE Minority Leader Vicente “Tito”
Sotto III, slamming the rampant material misrepresentation in the construction industry, urged Congress to amend the Construction Industry Authority of the Philippines (CIAP) & Philippine Contractors Accreditation Board (PCAB) Law.
The statement followed revelations about the questionable ownership structures of several construction companies linked to spouses Pacifico and Cezarah Rowena Discaya, as cited in CTA Case No. 10472, St. Timothy Construction Corporation versus Bureau of Internal Revenue.
Records showed that these corporations are owned, operated, and represented by Pacifico Discaya, Cezarah Rowena Discaya, Pacifico Discaya II, Ma. Roma Angeline Rimando, and Darryl Mark Pesigal, all either relatives or employees of the Discayas.
The PCAB confirmed that this constitutes material misrepresentation in corporate ownership and registration.
Sotto raised concerns over the difficulty of pursuing accountability since the companies use multiple addresses, asking, “Saan sila hahabulin kung ibaibang ginagamit na address [How can they be tracked down if they’re using different addresses]?”
He also warned that some contractors simply establish new corporations or sole
proprietorships whenever their licenses are denied, thereby exploiting loopholes to evade regulatory safeguards.
PCAB Executive Director Atty. Herbert Matienzo affirmed that such practices may indeed fall under material misrepresentation.
Sotto stressed the need for stronger powers, tighter coordination, and clearer enforcement measures across the Department of Public Works and Highways and the Department of Trade and Industry to stop these abuses.
Expressing full support for the Blue Ribbon Committee’s probe, Sotto said, “We are hoping that this precisely will be the result of your committee—the legislation that we need to do with PCAB, we need to overhaul PCAB.”
like grouper. “It could be raw, it could be finished goods, canned already or bottled,” added Daza.
W ith the CREATE More incentives in place, he said PEZA would encourage domestic-oriented fish companies to expand more. As for the export-oriented, Daza said potential markets of the Philippines in fish shipments would be China.
There are fish that are only here in the tropical sea, in the North, like salmon. There’s no grouper there,” Daza explained, adding that the fish that’s going to be shipped to China will be produced by the aquafarm processing in the economic zones. “E ven inland waters could be part of aquamarine ecozones,” he also told this newspaper.
T he Philippines currently has 427 operating economic zones, PEZA noted.
UA&P unions remain hopeful as talks stall over counter-offer
FBy Justine Xyrah Garcia
ACULTY and staff of the University of Asia and the Pacific (UA&P) remain hopeful that management will eventually put a real counter-offer on the table, even as mediation talks drag on without progress.
In a joint statement on Tuesday, the UA&P Union of Faculty Members (UA&PUFM) and the UA&P Union of Allied Employees (UA&PUAE) said the administration has yet to address their months-long demands for better pay and benefits.
The workers have been pushing for salary adjustments, a fairer promotion structure, HMO coverage for dependents, food and medical allowances, educational benefits, and a union signing bonus.
Union leaders stressed they are not rejecting plant-level bargaining but warned that returning to the table would be pointless if management continues to sidestep these issues.
“UA&P Management did not provide any counter-offer that genuinely responds to any of these items… We have made our position clear as early as our July 15 conference before the [Department of Labor and Employment–National Conciliation and Mediation Board]. Despite this, we are hopeful that management will reconsider and provide a counter-offer which responds to the real needs of UA&P employees,” UA&PUAE President Keith Panganiban said.
UA&PUFM President Ferdinand Delos Reyes, for his part, said workers would not have fought for bargaining rights if they were satisfied with existing conditions.
“To be clear, retaining the status quo is a non-offer. I don’t think majority of rankand-file employees will vote to accredit our unions as bargaining agents if they are happy with the status quo,” he said.
Delos Reyes disclosed with the B usiness M irror that the only concrete proposals the management has raised so far were a funeral loan program, an increase in the annual HMO limit to P150,000, seed money for a child-minding center, and free lunches.
He argued, however, that most of these were not new. The HMO increase had already been budgeted, seed money had already been agreed upon, and free lunches were already being provided.
“So only the [funeral loan] is really new,” he said.
Asked what the unions would do if management continues to hold its line, Delos Reyes said they would be “constrained” to evaluate their options—
He is also looking at a possible moratorium on new flood control projects under the Department of Public Works and Highways for 2026, noting that billions of pesos in allocations under the 2025 budget remain unimplemented.
“Tapusin muna natin ang pending projects at ayusin natin ang plano bago
Among the projects he suggested for inclusion in the negative list are lowvalue but overpriced road devices, such as reflective studs or “cat’s eyes,” slope protection nets and paints. The same should be done with what he called “vanity projects” like waiting sheds, swimming pools, signages, and other non-essential amenities, which are prone to budgetary abuse and waste, to give way to more important infrastructure initiatives.
natin ituloy ang mga ito. We should give [Public Works] Secretary [Vivencio] Dizon the opportunity to fix the system first,” he said.
“Let’s redirect those funds to wasteto-energy plants, refuse-derived fuel facilities, and other measures that address garbage, clogged drainage systems, and reduced water-holding capacity in rivers and waterways. These are among the real drivers of flooding in Metro Manila and other urban centers,” he added.
The negative list should serve as a guide to both the Executive and Legislative branches, accompanied by a stern warning that congressionally-sponsored projects in violation of the list will be vetoed by the President, Escudero also said.
“Dapat malinaw ang mensahe: Kung ano ang bawal, huwag nang ipilit. Kung anu-anong budgetary adventurism lang ang isinasaksak taun-taon kaya kailangan na maudlot na bago pa man maisama sa GAA [General Appropriations Act],” Escudero
Davao City mayor prefers Changi Airport Group to manage airport
By Manuel T. Cayon
DAVAO CITY—Acting Mayor
Sebastian Duterte said he prefers Changi Airport Group of Singapore to manage and operate the Davao International Airport (DIA) currently under the DIA Authority.
“Sa tingin ko mas maganda kung Changi Airport talaga yung mapipili ng PPP. Wala naman akong problema sa dalawa [Filinvest and Gokongwei Group] pero ang trabaho talaga ng Changi Airport is gumawa ng
airport [To me, it would be good to pick Changi Airport Group for the Private Public Partnership [PPP]. I have no problem though, with the two other investors],” Duterte said in The Hague, the Netherlands.
Duterte said the Changi Airport Group “is one of the best” in the world. “If you look at Singapore and its airport, it’s one of the best in the world. I hope it is interested, but it’s a national decision, not for the local government,” he added. Then transportation, now public
works, Secretary Vince Dizon, said the Changi Airport Group was one of three interested parties which filed proposals to develop, operate and maintain the airport here. The others were the Filinvest and Gokongwei groups.
Duterte said Filinvest is into development while the Gokongweis have aircrafts.
The Changi Airport group said it has 91 airport projects in 36 countries, including five in its home country, Singapore. It has airport projects in China
(19), India (5), Africa (22), Europe and CIS (10), Middle East (5), North America (1), South America (6) and the rest of Asia and the Pacific (18). It won the Readers’ Choice Awards for Best Airport 19 times, the Best Airport by Size and Region award seven times, the Best Airport Overseas two times, the World Best Airport Award 13 times, World’s Best Airport Dining Award eight times, Best Airport in the World award 19 times and Best Airport in Asia Pacific three times.
Herbosa to LGUs, private hospitals: Pay health workers HEA now that funds are released
Jr. for the release of the SARO.
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St. Timothy Construction, flagged for incomplete works in Bulacan, was likewise granted a fresh license up to 2027.
“S o if there is no complaint, they can just do it again and again?” Sotto asked.
PCAB Chairman Pericles Dakay explained that the Government Procurement Policy Board (GPPB) has blacklisting functions under the Procurement Law. He noted, however, that blacklisting has specific time limitations.
“ We can only institute disciplinary action upon a verified violation,” Dakay said. “Once [there is] a notice that the project has been completed, then the blacklist is lifted.”
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has enabled companies to engage in corporate layering and fronting—setting up new firms with different names but the same beneficial owners.
N onetheless, Dakay confirmed that PCAB is now probing 15 contractors identified by Malacañang. He said the agency “issued summons to the contractors” requiring a verified answer within 10 days and “preventively suspended their ARCC [Allowable Range of Contract Costs] for flood control, so that means that they cannot bid for any subsequent flood control projects.”
However, Sen. Dante Marcoleta said lawmakers are “ultimately looking at the revocation” of their licenses.
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including the possibility of proceeding with a strike.
“While this continues to be a major
Herbosa also thanked the Department of Budget and Management (DBM) and President Ferdinand “Bongbong’” Marcos
OLLOWING the release of the P6.767 billion Health Emergency Allowance (HEA), Health Secretary Teodoro Herbosa on Tuesday reminded local government units and the private hospitals or clinics to immediately pay the health-care workers (HCWs) once they received the funds from the Department of Health (DOH).
concern, we believe that the interest of workers who make education happen is equally important. This is why we have the support of many alumni. We are hopeful that DOLE will help both parties find an authentic middle ground to avoid a strike,” he added.
“Tulad noong nakaraang taon, nakita natin na sa loob lamang ng humigit-kumulang dalawang buwan pagkalabas ng SARO ay nababayaran agadng DOH ang mga pending claims ng
The next mediation for both parties is scheduled for September 5. The two unions have already filed notices of strike, with the cooling-off periods ending on September 7 and 8. If no resolution is reached, the Philippine Labor Code allows unions to conduct a strike
ating mga health-care workers (HCWs) n a kwalipikado para sa benepisyo,” Herbosa said.
He said, as long as HCWs are qualified, they can immediately get their HEA. Claudeth Mocon-Ciriaco
vote, which must be approved by a majority of members.
A strike vote report must then be submitted to the NCMB. Only after the mandatory seven-day strike ban period may an actual strike take place.
Sotto lamented that if the PCAB does not receive any complaint, blacklisted contractors “can just do it again and again.”
Dak ay said PCAB can “suspend or revoke all of their licenses automatically” should the Bureau of Internal Revenue find irregularities with tax filings versus those submitted to the PCAB.
H e noted, however, that PCAB operates under “presumption of regularity” in evaluating documents. Dakay also admitted that the agency does not physically evaluate the equipment capacity of contractors.
S enators pointed out that such reliance
T he Construction Industry Authority of the Philippines (CIAP) Board said it has ordered stricter internal safeguards and approved the engagement of an independent third-party watchdog to investigate contractor licensing. It has directed PCAB to submit the results of its ongoing probe into the flood-control contractors and to strengthen internal safeguards. This includes “policing its ranks” and requiring higher ethical standards of its employees, as well as conducting a thorough review of licensing processes and monitoring mechanisms.
Last week, Sen. Panfilo Lacson said PCAB is involved in what he calls “accreditation for sale.”
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their clearance on the day of the deliberations,” Ting pointed out.
Ting also disclosed that aside from Remulla, another applicant
retired Marikina RTC judge and now Philippine Charity Sweepstakes Office (PCSO) Cchairperson Felix Reyes has yet to secure a clearance from the Ombudsman.
The former judge was earlier linked to issues surrounding gaming tycoon Charlie “Atong” Ang,
who is being accused of masterminding the disappearance of 34 cockfighting enthusiasts.
Ting, however, said she has no knowledge about the nature of the cases against Reyes.
In a statement issued last July, Reyes noted that the accusations
against him by Julie “Totoy” Patidongan, the whistleblower in the case of missing sabungeros, came out only after he filed his application for the Ombudsman post.
Patidongan has claimed that Reyes serves as Ang’s fixer for his legal cases and that he often trav -
Wednesday, September 3, 2025
els abroad with prosecutors and judges where he would conduct the alleged case fixing.
“I find it perhaps, a rare coincidence that these wild accusations of Mr. Patidongan came out a day after I filed my application for the position of Ombudsman,”
Reyes said.
Remulla and Reyes and other applicants namely Albay Municipal Trial Court Judge Jason Rodenas and retired Laoag City Regional Trial Court (RTC) Benjamin Turgano were the last batch of applicants interviewed by the JBC.
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A8 Wednesday, September 3, 2025
Landslide in Sudan’s Darfur wipes out village, killing more than 1,000 people
By Samy Magdy
The Associated Press
CAIRO —A landslide wiped out a village in Sudan ‘s western region of Darfur, killing an estimated 1,000 people in one of the deadliest natural disasters in the African country’s recent history, a rebel group controlling the area said late Monday.
The tragedy happened Sunday in the village of Tarasin in Central Darfur’s Marrah Mountains after days of heavy rainfall in late August, the Sudan Liberation Movement-Army said in a statement.
“Initial information indicates the death of all village residents, estimated to be more than one thousand people. Only one person survived,” the statement read.
The village was “completely leveled to the ground,” the group said, appealing to the UN and international aid groups for help to recover the bodies.
Footage shared by the Marrah Mountains news outlet showed a flattened area between mountain ranges with a group of people searching the area.
The tragedy came as a devastating civil war has engulfed Sudan after tensions between the country’s military and the paramilitary Rapid Support Forces exploded into open fighting in April 2023 in the capital, Khartoum and elsewhere in the country.
Most of the Darfur region, including the Marrah Mountains, has become mostly inaccessible for the UN and aid groups given crippling restrictions and fighting between Sudan’s military
and the RSF.
The Sudan Liberation Movement-Army, centered in the Marrah Mountains area, is one of multiple rebel groups active in the Darfur and Kordofan regions. It hasn’t taken sides in the war.
The Marrah Mountains are a rugged volcanic chain extending for 160 kilometers (100 miles) southwest of el-Fasher, an epicenter of fighting between the military and the RSF. The area has turned into a hub for displaced families fleeing fighting in and around el-Fasher.
The conflict has killed more than 40,000 people, forced more than 14 million to flee their homes and left some families eating grass in a desperate attempt to survive as famine swept parts of the country.
It has been marked by gross atrocities including ethnically motivated killing and rape, according to the United Nations and rights groups. The International Criminal Court said it was investigating alleged war crimes and crimes against humanity.
The village of Tarasin is located in the central Marrah Mountains, a volcanic area with a height of more than 3,000 meters at its summit. A world heritage site, the mountain chain is known for its lower temperature and higher rainfall than surrounding areas, according to UNICEF. It’s located more than 900 kilometers (560 miles) west of the capital city of Khartoum.
Sunday’s landslide was one of the deadliest natural disasters in Sudan’s recent history. Hundreds of people die every year in seasonal rains that run from July to October.
Editor: Angel R. Calso
Gaza City combat zone: Strikes claim 31 lives as Israel faces genocide allegations
By Wafaa Shurafa, Samy Magdy & Sam Metz The Associated Press
EIR AL -BALAH, Gaza
DStrip—Israel launched strikes across the Gaza Strip on Monday, killing at least 31 people as it presses ahead with a major offensive in the territory’s largest city, according to health officials. Leading genocide scholars, meanwhile, accused Israel of genocide, allegations the government vehemently rejects.
Airstrikes and artillery shelling have echoed through Gaza City since Israel declared it a combat zone last week. On the city’s outskirts and in the Jabaliya refugee camp, residents have observed explosive-laden robots demolishing buildings.
“Another merciless night in Gaza City,” said Saeed Abu Elaish, a Jabaliya-born medic sheltering in the northwestern side of the city.
Hospitals in Gaza said at least 31 people were killed by Israeli fire Monday, more than half of them women and children. At least 13 people were killed in Gaza City, where Israel has carried out several previous large-scale raids since Hamas-led militants attacked southern Israel to ignite the war on October 7, 2023.
Israel says it only targets militants and blames Hamas for civilian casualties because the militant group—now largely reduced to a guerrilla organization—operates in densely-populated areas.
Double threat of war and starvation
GAZA City residents, many displaced by war multiple times, now face the twin threats of combat and hunger. The world’s leading authority on food crises said last month that it was in the throes of famine—a crisis driven by on -
going fighting and Israel’s blockade, magnified by repeated mass displacement and the collapse of food production.
A total of 63,557 Palestinians have been killed in the war, according to Gaza’s Health Ministry, which says another 160,660 people have been wounded. The ministry doesn’t differentiate between civilians and combatants in its count, but says women and children make up around half the dead.
The ministry is part of the Hamas-run government but staffed by medical professionals. UN agencies and many independent experts consider its figures to be the most reliable estimate of war casualties. Israel disputes them, but hasn’t provided its own toll.
Hamas-led militants killed 1,200 people, mostly civilians, in the October 7 attack and took 251 people hostage. Forty-eight hostages are still inside Gaza, around 20 of them believed by Israel to be
alive, after most of the rest were released in ceasefires or other deals.
Scholars accuse Israel of genocide
THE largest professional organization of scholars studying genocide said Monday that Israel is committing genocide in Gaza.
Israel, which was established in the wake of the Holocaust, in which 6 million European Jews and others were killed, vehemently rejects the allegation. It says it takes every measure to avoid harming civilians and is fighting a war of self-defense after Hamas’ October 7 attack, which Israel says was itself a genocidal act.
A resolution from the International Association of Genocide Scholars—which has around 500 members worldwide, including a number of Holocaust experts— said that “Israel’s policies and actions in Gaza meet the legal definition of genocide,” as well as crimes against humanity and war crimes.
The resolution was supported by 86% of those who voted. The organization didn’t release the specifics of the voting.
“People who are experts in the study of genocide can see this situation for what it is,” Melanie O’Brien, the organization’s president and a professor of international law at the University of Western Australia, told The Associated Press.
The Israeli Foreign Ministry called it “an embarrassment to the legal profession and to any academic standard.” It said the determination was “entirely based on Hamas’ campaign of lies.”
In July, two prominent Israeli rights groups—B’Tselem and Physicians for Human RightsIsrael—said that their country is committing genocide in Gaza.
The organizations don’t reflect mainstream thinking in Israel, but it marked the first time that
local Jewish-led organizations have made such accusations. International human rights groups have also leveled the allegation.
Mourners vent anger at hostage funeral
THOUSANDS of Israelis gathered for the funeral of Idan Shtivi, one of two hostages whose remains were recovered in a military operation last week. A private funeral was held for Ilan Weiss, the other captive.
Some mourners expressed anger at the government for not reaching a deal with Hamas to end the fighting and return the remaining captives.
“It is very, very infuriating that no one, no one from this government stands up and says enough,” said Ami Dagan, a mourner from Rishon Letzion.
“It’s a horror, it’s profound sadness and grief beyond words to describe the anger, the insult to the hostages, the insult to the fallen, the insult to the soldiers sent once again to Gaza,” said Ruti Taro, another mourner. “No one knows why, except for the powerhungry ruler.”
Many Israelis accuse Prime Minister Benjamin Netanyahu of prolonging the war for political purposes, and mass protests calling for a ceasefire and hostage release have swelled in recent weeks.
Flotilla leaves Barcelona after storm delay
AN activist flotilla bound for Gaza left Barcelona hours after a lastminute delay caused by stormy weather.
The Global Sumud Flotilla, consisting of around 20 boats with participants from 44 countries, had earlier set sail and then turned back, with organizers citing safety concerns. The expedition includes climate campaigner Greta Thunberg, who took part in a previous flotilla that was intercepted in July.
The flotilla is the largest attempt yet to symbolically break Israel’s blockade of Gaza. All previous ones have been intercepted at sea by Israeli forces. Israel says the blockade is needed to prevent Hamas from importing arms and that there are multiple other channels for sending aid to Gaza. Israel has taken steps to further restrict the delivery of food to northern Gaza as it presses ahead with its latest offensive in Gaza City.
Metz reported from Jerusalem, and Magdy from Cairo. Molly Quell in The Hague, Netherlands, and Renata Brito in Barcelona, Spain, contributed to this report.
PALESTINIANS gather outside Al-Aqsa Hospital in Deir al-Balah, in the central Gaza Strip, to pray over the bodies of those killed in an Israeli military strike, Monday, September 1, 2025. AP/ABDEL KAREEM HANA
China displays military might at WWII anniversary parade
BEIJING —China’s missiles, fighter jets and other military hardware—some on public view for the first time—are being displayed in a major parade Wednesday in the nation’s capital. Troops will march in lockstep by President Xi Jinping, who leads the long-ruling Communist Party and heads the military as the chairman of the Central Military Commission.
Xi will deliver a speech at the event, which marks the 80th anniversary of the end of World War II. The audience includes about two dozen foreign leaders from countries seeking to improve or maintain relations with the government in Beijing.
Many weapons will be making their public debut MUCH of the weaponry and equipment in the parade is being shown to the public for the first time, Chinese military officials have said. They include land, sea, and airbased strategic weapons, advanced precision warfare equipment and drones. Warplanes and helicopters will fly in formation in the skies overhead.
The parade is a show of strength
IT’S the first major military parade in China since 2019 on the 70th anniversary of the founding of communist China. This week’s parade
commemorates the end of WWII, a conflict that devastated China.
The parade aims to instill pride in the populace and assure them that the country is strong enough to ward off any attack. But China’s growing military strength also concerns its Asian neighbors and the United States.
Russia and North Korea headline the guestlist US and western European heads of state are staying away, as are the leaders of Japan, India and South Korea.
North Korea’s Kim Jong Un is making a rare foreign trip to attend. He will be joined by Russian President Vladimir Putin and the president of Iran, among others.
Several Southeast Asian leaders are coming, though the Indonesian president canceled because of protests at home.
The parade is mainly for invited guests THE event is highly choreographed and tightly controlled. It’s not the kind of parade where crowds line the streets to watch.
Barriers are set up to keep the public one block away and commercial buildings along the parade route are emptied and closed until the parade is over. For most people, the only way to watch is on television or a livestream.
Xi and Putin reaffirm ‘old friend’ ties in the face of US challenges
BEIJING—Chinese leader Xi
Jinping welcomed Russian President Vladimir Putin as an “old friend” as the two began a series of meetings Tuesday at a time when their countries face both overlapping and differing challenges from the United States.
Relations between China and Russia have deepened in recent years, particularly after the Russian invasion of Ukraine in early 2022.
Putin addressed Xi as “dear friend” and said that Moscow’s ties with Beijing are “at an unprecedentedly high level.” Following their formal talks, they planned to have another meeting over tea with some of their top aides.
The talks come the day after both attended a summit of the Shanghai Cooperation Organization in the nearby Chinese city of Tianjin, and the day before a grand Chinese military parade in Beijing to mark the 80th anniversary of the end of World War II.
The Soviet Union was neutral
for much of the war in Asia, but provided assistance to China in earlier fighting against invading Japanese forces in the 1930s. It also declared war on Japan in the last days of World War II and sent troops over the border into Japanese-occupied northeastern China.
“We were always together then, we remain together now,” Putin said.
China says it is neutral in the Ukraine war but has provided an economic lifeline to Russia by continuing trade despite western sanctions. Some of its companies have been accused of abetting the military industry.
The summit of the 10-member Shanghai Cooperation Organization
brought Xi and Putin together with Indian Prime Minister Narendra Modi, who held separate talks with both leaders on the sidelines of the meeting.
US President Donald Trump’s steep tariffs on India and the tone coming from the White House have pushed New Delhi closer to China and Russia, though Modi will not attend China’s military parade.
Putin and Xi held a three-way meeting with Mongolian President Khurelsukh Ukhnaa ahead of their talks. His landlocked
country of grasslands and mineral mines is sandwiched between the two giants.
Putin said in opening remarks that the three countries are good neighbors, with a shared interest in developing ties. “Our three countries have much in common,” he said. In 2024, Putin made an official visit to Mongolia, where the government ignored calls to arrest him on an International Criminal Court warrant for alleged war crimes stemming from the invasion of Ukraine.
Kim Jong Un heads to Beijing for military parade with Xi Jinping and Putin; 3-way unity against US
By Hyung-Jin Kim & Kim Tong-Hyung The Associated Press
SEOUL , South Korea—North Korean leader Kim Jong Un is heading to Beijing by train on Tuesday to attend a military parade with his Chinese and Russian counterparts, North Korea’s state media reported. The event could potentially demonstrate three-way unity against the United States.
Kim and Russian President Vladimir Putin are among the 26 world leaders who’ll join Chinese President Xi Jinping to watch Wednesday’s massive military parade in Beijing that commemorates the 80th anniversary of the end of World War II and China’s fight against Japan’s wartime aggressions.
It’s set to be Kim’s first time attending a major multilateral event during his 14-year rule, and the first time Kim, Xi and Putin, all key challengers of the US, have gath -
ered at the same venue. None of the three countries have confirmed a private trilateral leaders’ meeting.
South Korean intelligence predicts Kim could be treated on par with Putin THE North’s official Korean Central News Agency reported early Tuesday that Kim left Pyongyang for Beijing by his special train on Monday to participate in the celebrations. KCNA, citing Foreign Ministry official Kim Chon Il, said that Kim Jong Un was traveling with top officials including Foreign Minister Choe Son Hui. In a closed-door briefing to lawmakers, South Korea’s National Intelligence Service said Kim’s train entered China early Tuesday and was expected to reach Beijing later in the afternoon. The intelligence service said Kim will likely receive special protocol and security measures on par with those given to Putin, according to Lee Seong Kweun, a lawmaker who attended the meeting.
The spy agency said Kim may stand alongside Xi and Putin on the rostrum at Tiananmen Square during Wednesday’s parade, and anticipated that he will hold bilateral meetings with the Chinese and Russian leaders and interact with other heads of state at a reception and cultural performance as he seeks to further break out of isolation and expand his diplomatic footing, Lee said.
Kim’s travel marks his first visit to China since 2019 and the fifth visit in total since he inherited power upon his father’s death in late 2011.
Putin arrived in China on Sunday to attend the Shanghai Cooperation Organization, a regional summit, as well as the Beijing parade. Kremlin aide Yuri Ushakov told Russia’s TASS news agency on Sunday that a meeting between Putin and Kim on the sidelines was “under consideration.”
North Korea observers are paying keen attention to Kim possibly meeting Xi bilaterally as well and
holding even a trilateral meeting with Xi and Putin. The three leaders have met bilaterally previously but have yet to hold a trilateral meeting.
Kim seeks to expand his diplomatic footing NORTH Korea’s foreign policy priority has been Russia in recent years as it has been supplying troops and ammunition to support Russia’s war against Ukraine in exchange for economic and military assistance.
According to South Korean assessments, North Korea has sent around 15,000 troops to Russia since last fall. In its latest briefing to lawmakers, the South Korean spy agency said it believes roughly 2,000 of them have so far died in combat, Lee said. Kim has also agreed to additionally send thousands of military construction workers and deminers to Russia’s Kursk region, and the agency assesses that the first 1,000 are already in Russia, Lee said.
North Korea’s relations with China have reportedly turned sour in recent years, but experts say Kim likely hopes to restore ties as China is North Korea’s biggest trading partner and aid benefactor and he would want to brace for the end of the RussiaUkraine war.
Since aligning with Russia, North Korea has become more vocal in international affairs beyond the Korean Peninsula, issuing diplomatic statements on conflicts in the Middle East and in the Taiwan Strait, while portraying itself as a part of a united front against Washington. Some experts say Kim’s presence at the multilateral event in Beijing is part of efforts to develop partnerships with other nations close to China and Russia.
Kim’s trip comes as President Donald Trump and new liberal
South Korean President Lee Jae Myung have repeatedly expressed their hopes to restart talks with North Korea. North Korea has been shunning talks with the US and South Korea and pushing to expand its nuclear and missile arsenals since Kim’s earlier round of diplomacy with Trump collapsed in 2019.
Before departing for China on Monday, Kim visited a North Korean missile research institute to review progress on developing a new engine for a “next-generation” intercontinental ballistic missile, KCNA reported. The North in recent years has tested various versions of ICBMs capable of reaching the US mainland, and analysts say the next-generation ICBM likely refers to a long-range weapon with multiple nuclear warheads that can defeat US missile defense systems.
RUSSIAN President Vladimir Putin, left, and Chinese President Xi Jinping shake hands ahead of their meeting at The Great Hall of the People in Beijing, China, Tuesday, September 2, 2025.
UK markets slide as debt angst drives 30-year yield to 1998 high
By Greg Ritchie
THE yield on long-dated UK bonds rose to the highest since 1998 and the pound fell, pressuring Prime Minister Keir Starmer’s government to regain the confidence of investors who remain concerned over the fiscal outlook.
The rate on 30-year gilts rose five basis points to 5.69% on Tuesday amid a global decline in government bonds. Sterling tumbled, falling as much as 1.3% to $1.3376 and lagging all other major currencies. The FTSE 100 Index retreated 0.5%.
Rising debt costs threaten to worsen a perilous fiscal backdrop facing Chancellor of the Exchequer Rachel Reeves ahead of her autumn budget. She’s scrambling to find savings or raise taxes to plug a £35 billion ($46.9 billion) budget hole, according to Bloomberg Economics estimates. That may prove politically difficult, given the government had to U-turn on welfare reforms after a rebellion among lawmakers.
“The situation in the UK is quite dangerous at the moment because of the return of the bond vigilantes,” said Ludovic Subran, Allianz chief investment officer.
“What is striking is that it took so long to factor in the return of inflation into gilts. Forward guidance on the fiscal side will be needed.”
The selloff in long gilts reflects waning demand for such securities from traditional buyers such as defined-benefit pension funds, as
well as concerns over structurally higher inflation. The UK’s Debt Management Office has already slashed sales of such securities to a record low, and some are calling for it to go even further.
Economists are predicting the UK will soon need to raise taxes to keep on the right side of the government’s self-imposed fiscal rules. Borrowing costs are a key determinant of the UK’s fiscal arithmetic—potentially putting Reeves and Starmer at the mercy of bond yields.
Starmer announced a raft of changes to his Downing Street team on Monday in an a bid to reset the government and secure more influence over economic policy. The main fiscal rule is that day-to-day government spending should be covered by tax revenues within five years, so that borrowing is only for investment.
“The moves Starmer made yesterday—bringing some different people into Number 10—is kind of making people question who’s actually in charge of the fiscal side,” David Zahn, head of European fixed income at the firm, said in a Bloomberg TV interview. He repeated his call for the 30-year yield to surpass 6%.
“I think they’re going to continue to try and just plug along and not really address the problems,” Zahn said. “But if the yields get too high, eventually they will have to do something much more substantial which will include spending cuts.”
Pound drop
THE pound also came under pressure on Tuesday as gilt trading opened. Betting in the options market points to the bleakest month-ahead outlook for sterling since July against the dollar.
“The moves reflect a broad concern about the fiscal outlook in the developed world,” said Valentin Marinov, head of G10 FX strategy at Credit Agricole. “The pound is once again seen as the pressure valve for wary investors.”
The rise in borrowing costs has invited comparisons to the market meltdown under former Prime Minister Liz Truss.
Eurizon SLJ Capital chief executive Stephen Jen and Joana Freire wrote Friday that the UK risks a “Starmer Moment” similar to the fallout from Truss’s mini-budget three years ago if the government fails to restore faith in the nation’s public finances.
To be sure, the current sell-off is very different in nature.
The 2022 rout saw forced selling that drove the 30-year yield up as much as 50 basis points in one session, compared with a gradual grind upwards in recent weeks.
While the moves aren’t limited to UK bonds, they have been at the epicenter of the global slide in long-maturity debt.
The rate on 30-year gilts has risen more than 100 basis points over the last 12 months, compared with around 80 basis points for comparable US Treasuries and German bonds.
Supply pressures may be weighing too. The UK is selling a new bond due 2035 via syndication Tuesday. The yield on 10-year notes was up four basis points at 4.79%.
“Tax rises are inevitable, but we are reaching a stage where further tax rises could become counterproductive,” said Mohit Kumar, chief European strategist at Jefferies International. “We remain negative on the UK long end and continue to favor steepeners along the curve.” With assistance from James Hirai, Naomi Tajitsu, Vassilis Karamanis and Tom Rees / Bloomberg
In tough funding climate, nonprofits turn to storytelling to connect with donors
By Glenn Gamboa AP Business Writer
MIAMI —Cindy Eggleton
has always believed in the power of a story.
But the CEO and co-founder of Brilliant Cities, a Detroit-based early childhood development nonprofit that supports learning in underserved communities, never expected someone to tell hers. And definitely not in a sleek documentary with a slick soundtrack and plenty of images of other Detroit institutions, such as General Motors, Diana Ross, and the historic Fox Theatre.
“It’s never been about me,” said Eggleton, adding that participating in the “Nevertheless: The Women Changing the World” documentary series on YouTube was her way of honoring her late mother, Geraldine, who inspired her to speak out and help others in their community.
However, as they face an increasingly uncertain funding landscape, nonprofits are focusing more on storytelling in outreach to donors – both big and small – and raising production values for videos and podcasts.
“Storytelling is how we’re able to draw people in and get them to connect to a deeper truth about themselves or about the world or a problem that needs to be solved,” said Elevate Prize Foundation CEO Carolina Jayaram Garcia. “It’s connecting those issues back to you as a human and not saying, ‘Well, that’s their problem. That’s all the way over there.’ The story allows it to be human.”
Elevate Prize Foundation launches its own documentary studio
THE foundation launched the production house Elevate Studios earlier this year to tell more of those stories, Jayaram Garcia said. “Nevertheless: The Women Changing the World,” Elevate Studios’ first series, has already generated more than 3 million views on YouTube and will debut its second season in the summer of 2026.
“It’s been incredible to see the growth we’ve had on YouTube and how it’s resonated so quickly with so many people,” Jayaram Garcia said. “We know we’re on to something here.”
Philanthropic support of storytelling has been ongoing for decades, mostly through donors funding documentary projects. Open Society Foundations created the Soros Documentary Fund in 1996 before the Sundance Institute took it over in 2002, with the George Soros-backed nonprofit’s continued monetary support. The Ford Foundation formalized its funding plans in 2011, creating its JustFilms program that still supports 25-30 documentary films annually. Earlier this month, Firelight Media, a New York-based nonprofit supporting documentary filmmakers of color, launched the Firelight Fund, which will offer directors $50,000 grants for their projects.
But Lance Gould, founder and CEO of media strategy firm Brooklyn Story Lab, says what Elevate Prize Foundation and others are doing is different. He says it reflects
both technological improvements that have lowered the cost of documentary storytelling and the rise of social media, which allows nonprofits to interact with donors directly.
“Being able to tell your story well is paramount,” said Gould, whose firm works with nonprofits to help them produce their own story-driven content. “But storytelling is not only about reaching viewers, it’s also about having the right message for the right viewers.”
He suggests that nonprofits connect their work to larger initiatives like the United Nations Sustainable Development Goals—an ambitious list of 17 efforts from eliminating extreme poverty and hunger to guaranteeing every child a quality secondary education by 2030—to attract more attention and support.
How storytelling can strengthen connection GOULD, who was previously executive editor of The Huffington Post and editor in chief of The Boston Phoenix, said “everyone can be their own media company at this point.”
That’s a point Nicole Bronzan, vice president of communications and content for the Council on Foundations, hopes are not lost in the push for more storytelling.
“We don’t want people to feel that they have to make big technological investments in order to tell better stories,” Bronzan said. “We wouldn’t want anyone to feel like they have to have a big fancy studio, but certainly the news that folks are investing in storytelling is great for us and for the whole sector.”
1.2 million immigrants gone from US labor force under Trump, preliminary data shows
By Corey Williams The Associated Press
IT’S tomato season and Lidia is harvesting on farms in California’s Central Valley. She is also anxious. Attention from US Immigration and Customs Enforcement could upend her life more than 23 years after she illegally crossed the US-Mexico border as a teenager.
“The worry is they’ll pull you over when you’re driving and ask for your papers,” said Lidia, who spoke to The Associated Press on condition that only her first name be used because of her fears of deportation. “We need to work. We need to feed our families and pay our rent.”
As parades and other events celebrating the contributions of workers in the US are held Monday for the Labor Day holiday, experts say President Donald Trump’s stepped-up immigration policies are impacting the nation’s labor force.
More than 1.2 million immigrants disappeared from the labor force from January through the end of July, according to preliminary Census Bureau data analyzed by the Pew Research Center. That includes people who are in the country illegally as well as legal residents.
Immigrants make up almost 20% of the US workforce and that data shows 45% of workers in farming, fishing and forestry are immigrants, according to Pew senior researcher Stephanie Kramer. About 30% of all construction workers are immigrants and 24% of service workers are immigrants, she added.
The loss in immigrant workers comes as the nation is seeing the first decline in the overall immigrant population after the number of people in the US illegally reached an all-time high of 14 million in 2023.
“It’s unclear how much of the decline we’ve seen since January is due to voluntary departures to pursue other opportunities or avoid deportation, removals, underreporting or other technical issues,” Kramer said. “However, we don’t believe that the preliminary numbers indicating net-negative migration are so far off that the decline isn’t real.”
Trump campaigned on a promise to deport millions of immigrants working in the US illegally. He has said he is focusing deportation efforts on “dangerous criminals,” but most people detained by ICE have no criminal convictions. At the same time, the number of illegal border crossings has plunged under his policies.
Pia Orrenius, a labor economist at the Federal Reserve Bank of Dallas, said immigrants normally contribute at least 50% of job growth in the US.
“The influx across the border from what we can tell is essentially stopped, and that’s where we were getting millions and millions of migrants over the last four years,” she said. “That has had a huge impact on the ability to create jobs.”
‘Crops did go to waste’
JUST across the border from Mexico in McAllen, Texas, corn and cotton fields are about ready for harvesting. Elizabeth Rodriguez worries there won’t be enough workers available for the gins and other machinery once the fields are cleared.
Immigration enforcement actions at farms, businesses and construction sites brought everything to a standstill, said Rodriguez, director of farmworker advocacy for the National Farmworker Ministry.
“In May, during the peak of our watermelon and cantaloupe season, it delayed it. A lot of crops did go to waste,” she said.
In a Council on Foundations report released last year, “ A New Voice for Philanthropy: How Deeper Stories and Clearer Language Can Build Trust,” researchers, including Bronzan, reported that people had positive attitudes toward foundations, but most didn’t really understand how foundations worked. Bronzan said stories that provide more transparency about how donations are used and how those decisions are made help connect people to a nonprofit and its work.
“If you’re telling those stories,” she said, “I can only imagine that people will be more inclined to open up their pocketbooks and say, ‘Oh, OK, these are causes that need my support.’”
Documentary sparks donations
SO far, that has been the case for Brilliant Cities, which saw an increase in donations after Eggleton’s episode debuted on YouTube.
“We have a funder who wants to increase his gift from $7,000 to $100,000,” said Eggleton, whose nonprofit turns a neighborhood’s vacant homes into community centers with family services ranging from tutoring to mental health support groups. She said new donors have also reached out. “It’s kind of incredible.”
Though Brilliant Cities doesn’t rely on federal funding for its services, Eggleton said government aid cuts have made a tough funding environment even tougher because the competition for nongovernmental donations becomes even tougher.
In Ventura County, California, northwest of Los Angeles, Lisa Tate manages her family business that grows citrus fruits, avocados and coffee on eight ranches and 800 acres (323 hectares).
Most of the men and women who work their farms are contractorprovided day laborers. There were days earlier this year when crews would be smaller. Tate is hesitant to place that blame on immigration policies. But the fear of ICE raids spread quickly.
Dozens of area farmworkers were arrested late this spring.
“People were being taken out of laundromats, off the side of the road,” Tate said.
Lidia, the farmworker who spoke to the AP through an interpreter, said her biggest fear is being sent back to Mexico. Now 36, she is married with three school-age children who were born here.
“I don’t know if I’ll be able to bring my kids,” said Lidia. “I’m also very concerned I’d have to start from zero. My whole life has been in the United States.”
From construction to health care
CONSTRUCTION sites in and around McAllen also “are completely dead,” Rodriguez said.
“We have a large labor force that is undocumented,” she said. “We’ve seen ICE particularly targeting construction sites and attempting to target mechanic and repair shops.”
The number of construction jobs are down in about half of US metropolitan areas, according to an Associated General Contractors of America analysis of government employment data. The largest loss of 7,200 jobs was in the Riverside-San Bernardino-Ontario, California, area. The Los Angeles-Long Beach-Glendale area lost 6,200 jobs.
“Construction employment has stalled or retreated in many areas for a variety of reasons,” said Ken Simonson, the association’s chief economist. “But contractors report they would hire more people if only they could find more qualified and willing workers and tougher immigration enforcement wasn’t disrupting labor supplies.”
Kramer, with Pew, also warns about the potential impact on health care. She says immigrants make up about 43% of home health care aides.
The Service Employees International Union represents about 2 million workers in health care, the public sector and property services. An estimated half of long-term care workers who are members of SEIU 2015 in California are immigrants, said Arnulfo De La Cruz, the local’s president.
“What’s going to happen when millions of Americans can no longer find a home care provider?” De La Cruz said. “What happens when immigrants aren’t in the field to pick our crops? Who’s going to staff our hospitals and nursing homes?”
14,000 US-bound migrants have returned south since Trump border changes, UN says
By Megan Janetsky
The Associated Press
EXICO CITY—More than 14,000
Mmainly Venezuelan migrants who hoped to reach the United States have reversed course and turned south since US President Donald Trump’s immigration crackdown began, according to a report published Friday by the governments of Colombia, Panama and Costa Rica.
The phenomenon, known as “reverse flow” migration, is largely made up of Venezuelan migrants who fled their country’s long-running economic, social and political crises only to encounter US immigration policy no longer open to asylum-seekers.
Migration through the treacherous Darien Gap on the border of Colombia and Panama peaked in 2023 when more than half a million migrants crossed. That flow slowed somewhat in 2024, but dried up almost completely early this year.
Friday’s report, published with support of the UN High Commissioner for Human Rights, said that northward migration had dropped 97% this year.
Migrants traveling south interviewed in Costa Rica, Panama and Colombia by those countries’ ombudsmen offices were almost all Venezuelans (97%) and about half of them said they planned to return to Venezuela, according to the report. Nearly all said they were returning because they could no longer legally reach the US.
Since 2017, around 8 million people have fled the crisis in Venezuela. For years, those migrants flocked to other South American nations, including Colombia, Peru, Ecuador, Chile and more.
That changed in 2021, when hundreds of thousands of people set out for the US, braving the Darien Gap along the way.
A US government smartphone app became the main way for asylum-seekers to enter the US under the Biden administration.
Then thousands of migrants became stranded in Mexico when Trump ended the use of the app on his first day in office.
Now, those migrants who were still trying to reach the US when Trump entered and changed border policies have reversed course, traveling back to South America. Around a quarter of those interviewed
Continued from A14
of Philippine goods being shipped to Asia are seen to remain stable with soft capacity, meaning supply is more than demand.
As to local goods that are bound for Europe, air freight rates would also remain stable this month, with an upturn capacity, meaning market is picking up, but demand of space can still be met by current supply.
Dimerco also underscored that tariff uncertainty would continue to weigh on US imports in the second half of 2025.
“Rising US and global tariffs continues to create uncertainty in trade, leading many companies to frontload shipments, raise prices, and adjust supply chains,” the logistics firm underscored.
To cope, it explained, businesses are “rethinking sourcing, closely watching policy changes, and building flexibility into their supply chains.”
planned to go to neighboring Colombia, previously the epicenter of the mass migration from Venezuela. Others said they didn’t know where they were going.
Colombia and other South American nations spent years pleading for aid from the international community to cope with the brunt of Venezuela’s migratory crisis, before many of those same migrants began moving toward the United States. Today, Venezuela’s political and economic turmoil rages on.
Migrants, most of whom trekked days across the Darien Gap on their way north, are even more vulnerable as they make their way back. They have fewer funds to finance their journey and few prospects for work when they get back. Migrants are dropped into regions with a heavy presence of criminal groups that increasingly prey upon them, the report said.
“Most of these people are already victims of human rights abuses,” Scott Campbell, a UN human rights representative in Colombia, said in a statement. “We urge authorities to aid people in this reverse migration to prevent them from being exploited or falling into trafficking networks run by illegal armed groups.”
The shift marks a radical reversal in one of the biggest mass migrations in the world.
Migrants bus south through Mexico and other Central American nations until they arrive in the center of Panama. From there, migrants pay between $260 and $280 to ride on precarious boats packed with people back to Colombia.
They take two different routes. Most island hop north of Panama through the Caribbean Sea, landing in the small town of Necocli, Colombia, where many started their journeys through the Darien.
Others travel south by sea along a jungled swath of Panama and Colombia through the Pacific Ocean, where they are dropped off in remote towns or the Colombian city of Buenaventura. Colombia’s Ombudsman’s Office estimates around 450 people have taken the perilous route, and the UN documented migrants getting scammed and stranded, facing boat accidents and arriving beaten down and vulnerable from their journey.
The region is one of the most violent in Colombia, and lack of state presence is filled by warring armed groups.
With more tariff talks under way, shipping volumes and global trade patterns could see “further shifts” in the months ahead, the report noted.
A separate report released by the UN Trade and Development (Unctad) on Tuesday explained that one of the most “destabilizing” aspects of trade policy uncertainty is its timing.
The United Nations’ trade arm explained that when tariffs are expected to rise but their implementation date remains unclear, importers often react “preemptively.”
“Many accelerate shipments, ‘frontloading’ goods to stockpile inventory before higher tariffs take effect. Others shift from slower and cheaper sea freight to faster, though more expensive, air cargo—an option most feasible for high-value, lowvolume products,” Unctad’s Global trade update explained.
While these adjustments can buy time, they also introduce “new costs and distortions into global trade flows.” Andrea E. San Juan
Belgium to recognize Palestinian state amid growing international support
By Sam Mcneil The Associated Press
BRUSSELS—Belgium will move toward recognizing a Palestinian state, the country’s foreign minister said Tuesday, joining a growing list of countries preparing to take the step as Israel steps up its offensive in Gaza.
Maxime Prévot said Belgium’s plans to recognize a Palestinian state will be announced at the United Nations General Assembly on September 9.
However, the acknowledgment is predicated on two conditions— the return of all Israeli hostages held in Gaza and the removal of Hamas from political power in the coastal exclave. The conditions make it unlikely the recognition will be formalized anytime soon.
The announcement marks the latest sign of international support for a Palestinian state, and would add Belgium to a list of more than 140 countries to recognize Palestinian statehood, including more than a dozen in Europe.
Prévot on Tuesday also announced plans to ban goods coming from Israeli settlements in the
West Bank and designate Hamas leaders, violent settlers, and two far-right Israeli ministers as persona non grata.
“This is not about sanctioning the Israeli people but about ensuring that their government respects international and humanitarian law and taking action to try to change the situation on the ground,” Prévot said on social platform X.
Prévot said the European Union should increase more pressure on Israel by suspending ties with the country, including its trade pact known as the Association Agreement. Israel’s war in Gaza has stressed ties within the bloc’s 27 nations, ignited protests across the continent, and frayed political coalitions including in Belgium and its neighbor the Netherlands. But
despite growing political tension, Israel’s deep ties with European military, business and academic institutions remain largely intact.
Belgium’s announcement sparked fury from Israel’s far-right national security minister Itamar Ben Gvir, who, along with finance minister Bezalel Smotrich, is a likely target of the new sanctions.
“The self-righteous European countries that are being manipulated by Hamas—at the end they’ll discover terrorism on their own flesh,” Ben Gvir said in a statement to The Associated Press.
France and the United Kingdom have both announced plans to recognize Palestine, putting added diplomatic pressure on Israel.
Australia, Canada and the European countries moving toward
statehood recognition have predicated the step on the Palestinian Authority making reforms. But the body is deeply unpopular among Palestinians and is seen as corrupt and incapable of governing effectively. Israel has opposed granting it a larger role in postwar Gaza.
The Palestinians seek an independent state in the occupied West Bank, annexed east Jerusalem and Gaza, territories Israel occupied in the 1967 Mideast war. Israel’s government and most of its political class have long opposed Palestinian statehood and now say it would reward militants after Hamas’ October 7 attack.
Melanie Lidman in Jerusalem contributed to this report.
From conservation to reconstruction: Debt swaps evolve to meet geopolitical needs
By Natasha White
DEBT swaps pioneered by Credit Suisse to fund nature conservation are enjoying a second life, as bankers see an opportunity to apply the model to everything from post-war reconstruction to energy security.
The swaps help governments refinance debt at more favorable terms and put any savings toward a pre-determined policy goal. After a drought in dealmaking since late last year, as many as four new swaps may be completed by the end of 2025, according to Jake Harper, senior investment manager, private credit at Legal & General Group Plc. But none of them has a nature-focused goal, he says.
The development feeds into a broader movement in ESG (environmental, social and governance), as investors and issuers stretch the label to cover areas they see as more relevant to the current geopolitical moment. Examples include efforts by Citigroup Inc. to put together a deal to help Ukraine rebuild after the war.
Antonio Navarro, a former Credit Suisse banker and co-
founder of boutique credit fund ArtCap Strategies, says the way debt swaps are structured makes them well suited to responding to political developments.
“At the end of the day, these are policy instruments,” Navarro says. He launched ArtCap in 2023, the same year Credit Suisse was acquired by UBS Group AG in a stateengineered rescue. This year, he’s been pitching an energy security swap that would channel savings into US oil and gas imports, as well as help finance the construction of liquefied natural gas plants in emerging markets.
Navarro began pitching such deals to multilateral development banks and the US International Development Finance Corporation (DFC), a government agency, after Donald Trump’s return to the White House brought with it an agenda to revive America’s fossilfuel industry. Navarro declined to comment on how his efforts have been received.
US government priorities overseas look set to play a major role in shaping the market for debt swaps. DFC has offered political risk insurance on more than half
the deals that have completed to date. The US is also a major shareholder in many of the multilateral development banks that help derisk debt swaps to make them more palatable for private investors.
The DFC will likely be involved in Citigroup’s efforts to put together a reconstruction swap for Ukraine if it goes ahead, Bloomberg has previously reported. The agency is already managing an agreement signed with Ukraine earlier this year that grants the US privileged access to new investment projects to develop Ukraine’s natural resources.How debt swaps work:
The deals generally target governments in developing nations looking for ways to reduce their debt burden in exchange for pledges to target sustainable goals. Old debt is bought back, sometimes at a discount, with the repurchase paid for through the issuance of new bonds or loans.
Public agencies such as multilateral development banks are often brought in to provide risk mitigation in the form of guarantees on the new debt, to reduce the likelihood that private investors
will lose money. Their presence also helps keep the price of the debt down for borrower nations. The deals, which are private, have faced criticism for their lack of standardization when it comes to reporting both fees and savings. Investors attracted to the market often focus on the environmental or social impact of their financial contribution.
Marine de Bazelaire, former European head of sustainability at HSBC Holdings Plc, says borrower nations should be wary of engaging in debt swap deals that shift control of domestic priorities to overseas entities. “At the end of the day, we’re talking about the wealth and real assets of countries and their capacity to monitor what is core to their sovereignty,” she says. The commercial debt swap market, which has existed in its current form since 2021, more than doubled in size last year to roughly $4.7 billion. It could eventually help unlock as much as $100 billion in funds for nature and climaterelated goals alone, according to a group of nonprofits working on a pipeline for developing nations. Bloomberg News
A MAKESHIFT tent camp for displaced Palestinians stretches across an area near the Gaza City port, Monday, September 1, 2025. AP/JEHAD
Hope and challenge: PHL takes a stand against avian flu with new vaccine
EIGHT years after the government confirmed the presence of avian influenza in a Pampanga farm, the Philippines now has additional ammunition against the animal disease. (See, “PHL allows commercial use of bird flu vaccine,” in the BusinessMirror, August 27, 2025). The vaccine was also approved more than two decades after bird flu killed millions of ducks and chickens in Vietnam and Thailand. The devastating outbreaks in the country’s neighbors have raised fears that the virus will eventually find its way into Philippine farms.
It will take nearly a decade and a half for the virus to ravage local farms, at a time when top poultry exporters in the West are already grappling with the mutations of the virus that have proven to be deadly to their flocks. The United States Centers for Disease Control and Prevention noted that in early 2017, there were outbreaks of the highly pathogenic AI (HPAI) H5N8 virus in domestic poultry and wild birds in Europe, Asia, and parts of Africa. During the same year, the World Health Organization reported human infections with Asian lineage H7N9 bird flu.
While the decision of the Food and Drug Administration to allow the commercial use of the bird flu vaccine from Boehringer Ingelheim is certainly welcome news, it does not mean that the virus has been totally defeated. For one, administering the vaccine to each and every healthy bird means additional cost to poultry raisers. This could be burdensome for smallholder raisers who are one disease outbreak away from bankruptcy.
The Department of Agriculture has vowed to find the means to assist smallholder raisers possibly by subsidizing or shouldering the entire cost of the vaccination. This is one initiative that must secure the support of the national government given its food security implications. Basketball courts may encourage young Filipinos to take up sports but it certainly cannot feed the nation.
The cost of vaccinating domestic animals is a paltry sum compared to the impact of disease outbreaks not only on the pockets of consumers but also on the economy in general. Until now, Filipino consumers are still shelling out half of their minimum wage for meat products. In recent years, the high cost of pork and chicken had been a major contributor to headline inflation and it will remain that way unless the animal diseases that have slashed output are defeated.
The arrival of the bird flu vaccine brings hope to many poultry raisers who have been on edge since 2017, when the virus ravaged farms in Central Luzon and caused raisers to incur millions of pesos in losses. However, they must not let their guard down by continuing to observe biosecurity measures that aim to prevent other animal diseases from striking their farms. Vaccines may be a potent shield but complacency and negligence especially by authorities who should be guarding our borders will make it more difficult to keep animal diseases at bay.
Construction drivers
WTHE BUILDER
ITH inflation and interest rates on the decline, the Philippines is experiencing an upswing in construction as both the private and public sectors are encouraged to borrow and invest.
This economic stability, marked by a low inflation rate of 0.9 percent in July 2025, helped fuel a 13-percent year-on-year rebound in construction.
Low interest rates make it cheaper for the government to fund infrastructure projects and for businesses to invest in new developments.
Stable inflation provides a predictable economic environment for businesses, allowing them to plan budgets and long-term investments without the uncertainty of rapidly rising costs.
When prices rise slowly, the people have more purchasing power, which can lead to increased consumer spending. The Bangko Sentral ng Pilipinas (BSP) uses low interest rates as a benchmark to stimulate economic activity.
product grew 5.5 percent year-onyear in the second quarter, underpinned by strong performances in services (6.9 percent) and agriculture (7.0 percent).
Easing inflation supported an increase in household consumption. Low interest rates incentivize both government and private sector investment.
For the government, the cost of issuing bonds to fund projects decreases, making it easier to raise the necessary capital for infrastructure. Projects that were once considered too expensive become financially viable.
building permits were issued in June 2025, up from 14,270 a year earlier.
Residential buildings accounted for the majority of the new permits at 11,058, or 68.6 percent of the total, up 15.2 percent on-year.
Non-residential construction permits reached 3,011, or 18.7 percent of the total, in June. It also increased 5.8 percent from a year ago, with most involving commercial buildings (2,023).
The total value of construction projects also surged 39 percent to P51.67 billion in June from P40.25 billion a year earlier.
In its second-quarter report on the Philippine office market, commercial real estate agency Cushman & Wakefield noted that prime and Grade A offices in Makati, Fort Bonifacio and Ortigas saw stable demand for high-quality spaces.
Regional hubs like Cebu, Clark and Davao are also gaining traction as investment activity spreads into secondary markets, bolstered by improved infrastructure and local economic development, it said.
terest rate payments is through official development assistance (ODA) loans.
ODA refers to long-term and lowinterest loans provided by multilateral agencies or foreign governments to promote economic development and welfare in developing countries, such as the Philippines.
Key ODA partners of the Philippines include the World Bank, the Asian Development Bank and Japan. Japan, through the Japan International Cooperation Agency (JICA), remains our largest ODA partner. The Department of Public Works and Highways (DPWH) reports that Japan is helping fund nearly P1 trillion worth of infrastructure projects in the country. In a high-level meeting with Japanese parliamentarians on August 27, 2025, DPWH Senior Undersecretary Emil Sadain, who oversees ODA-funded projects, said that through the partnership with JICA, the government is seeing “tangible progress for a future-ready Philippines.”
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With the BSP’s latest monetary easing, more businesses and households are encouraged to borrow funds for investments. This resulted in a renewed upswing in construction activity, thanks to improving demand for housing and commercial spaces as banks begin to lower their interest rates.
Per the Philippine Statistics Authority (PSA), our gross domestic
Indonesia
IThe lower interest rates act as a powerful economic stimulus, creating jobs and boosting demand across various sectors. For the private sector, low interest rates make it cheaper for individuals and businesses to borrow money.
The lower cost of borrowing encourages consumers to take out loans for major purchases, like homes and cars, and businesses to invest in expansion, new equipment and facilities.
Per the PSA, building construction rebounded 13 percent yearon-year in June 2025. Some 16,128
By Grace Sihombing, Prima Wirayani & Abhishek Vishnoi
NDONESIAN Finance Minister Sri Mulyani Indrawati pledged to improve the government’s policies after protesters looted her house over the weekend, a signal to investors that she will continue to manage the economy and back efforts by President Prabowo Subianto to ease public anger.
“We apologize,” she wrote in a pair of posts on her personal Instagram account on Monday, adding that her duties were very complex and she understood the demands of the public.
“There are certainly still many shortcomings,” she said. “We will continuously improve.”
Protests had surged over the weekend nationwide, leaving at least five dead, in the most serious political test of Prabowo’s 10-month presidency.
Stocks rebounded by Tuesday after Monday’s selloff, with the Jakarta Composite Index rising as much as
1.3 percent. The rupiah was little changed. Yields on 10-year bonds fell 2 basis points to 6.4 percent, a sign of some investor confidence.
“People expected Indrawati would resign after the looting at her house,” said Ahmad Mikail Zaini, chief economist at PT Sucor Sekuritas. Her staying on board, “revives confidence that Indonesia’s economy will be guarded with prudence.”
For foreign investors, Indrawati is arguably the most important figure in Prabowo‘s cabinet, the third administration the 63-year-old economist has served in. She also spent
Indeed, foreign and local investors are continuing to open additional spaces for expansion in the Philippines. This is good news for the real estate market, which suffered from the recent exit of Philippine offshore gaming operators (POGOs).
Homebuyers are also returning to the market, especially for horizontal developments rising across the Philippines.
The government is doing its part by providing low-interest loans for the acquisition of units under the Expanded Pambansang Pabahay para sa Pilipino Housing (4PH) program.
Another way the Philippines is funding infrastructure projects without incurring substantial in-
For foreign investors, Indrawati is arguably the most important figure in Prabowo‘s cabinet, the third administration the 63-yearold economist has served in. She also spent time as a top official at the World Bank, and is a regular presence at the International Monetary Fund gatherings in Washington, bolstering her reputation for fiscal prudence and raising her profile among bondholders and global finance peers.
time as a top official at the World Bank, and is a regular presence at the International Monetary Fund gatherings in Washington, bolstering her reputation for fiscal prudence and raising her profile among bondholders and global finance peers.
“Indrawati helps to manage the balance sheet, and with her on board
He cited the Davao City Bypass Construction Project, which includes the country’s first long-distance road tunnel system.
Sadain provided updates on 21 JICA-assisted projects within the DPWH portfolio, including five completed projects and six that are under construction.
I believe that with stabilizing inflation, low interest rates and continued partnerships with ODA providers like Japan, the Philippines is poised to continue building its infrastructure and fostering development across the country.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph
investors have greater confidence that the balance sheet will not go wrong, they will not abuse the fiscal budget,” said Xin-Yao Ng, a fund manager at Aberdeen Investments. Indrawati’s comments echo similar sentiments from her boss Prabowo, who has sought to express sympathy for the causes for public angst, including economic insecurity and anger over inequality, while simultaneously backing a firm response by the military and police. In a meeting with labor leaders on Monday evening, Prabowo pledged to ask parliament and party leaders to immediately deliberate an asset seizure bill and a revision to the labor bill requested by workers, according to a statement from the State Secretariat. The president will also soon sign a presidential decree on the formation of a national labor welfare council, See “Indonesia,”
Mark Villar
Gold punches through $3,500 to hit record high on rate-cut bets
By Sybilla Gross
GOLD hit a record high as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multiyear rally in precious metals.
Bullion for immediate delivery rose as much as 0.9 percent to $3,508.73 an ounce—surpassing the previous peak reached in April—before paring some gains during early trading in Asia on Tuesday. The precious metal has gained more than 30 percent this year, making it one of the best-performing major commodities.
The latest run has been fueled by expectations that the US central bank will lower interest rates this month, after Fed Chair Jerome Powell cautiously opened the door to a reduction. A key US jobs report this Friday is likely to add to signs of an increasingly subdued labor market— supporting the case for cuts. That’s boosted the allure of precious metals, which do not pay holders interest.
“Investors adding to gold allocations, especially as Fed rate cuts loom, are pushing prices higher,” said UBS Group AG strategist Joni Teves. “Our base case is that gold continues to make new highs over the coming quarters. A lower interest rate environment, softer economic data and continued elevated macro uncertainty and geopolitical risks boost gold’s role as a portfolio diversifier.”
Both gold and its cheaper cousin silver have more than doubled over the past three years, with mounting risks in the spheres of geopolitics, the economy, and global trade driving increased demand for the timehonored haven assets. An escalation in President Donald Trump’s assaults against the Fed this year has become the latest cause for investor alarm, with concerns over the central bank’s independence threatening to erode confidence in the US.
Markets are waiting for a court ruling on whether Trump has legitimate grounds to remove Fed Governor Lisa Cook from the central bank. Separately, a federal appeals court said late Friday that the president’s global tariffs were illegally imposed under an emergency law, increasing uncertainty for American importers while delaying the economic dividends the administration has promised.
Gold last spiked to a record in April after Trump unveiled an initial plan to introduce sweeping tariffs on most US trading partners. Prices soon eased and remained largely rangebound for several months, as haven demand cooled due to the president walking back some of his most aggressive trade proposals.
“The room above $3,500 is un-
Indonesia . . .
continued from A12
according to Said Iqbal, leader of the Indonesian Labor Union Confederation.
Back in May, Prabowo has promised to create the council, which would be tasked with studying the situation of workers and advising the president on various laws and regulations related to labor issues.
“Recurrent protests, especially with a risk of escalation, bode poorly for private sector investment and confidence,” Radhika Rao, senior economist at DBS Bank Ltd., wrote in a note, adding that any new revenue-raising measures are now off the table, given public anger over earlier austerity measures.
“Sentiments are likely to be jittery in the FX space,” Rao wrote.
Bullion for immediate delivery rose as much as 0.9 percent to $3,508.73 an ounce—surpassing the previous peak reached in April—before paring some gains during early trading in Asia on Tuesday. The precious metal has gained more than 30 percent this year, making it one of the bestperforming major commodities.
charted, so the market will be watching how price action behaves. The last time gold hit $3,500 was during intra-day trading, so we would be keen to see if gold manages to make a daily close above that level as that could lend some momentum,” said Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. “There is still risk of fresh geopolitical risks and policy uncertainties returning, and that would lend a kicker to gold.”
Silver, meanwhile, has continued to run harder than its yellow cousin. The white metal is up by more than 40 percent so far this year, with prices breaching $40 an ounce for the first time since 2011 on Monday. The metal is also valued for its industrial uses in clean-energy technologies including solar panels. Against that backdrop, the market is headed for a fifth year of supply deficits, according to industry group the Silver Institute. A weaker dollar has also boosted buying power in major consuming countries like China and India.
Investors have piled into ETFs backed by silver, with holdings expanding for a seventh consecutive month in August. That’s drawn down the stockpile of freely available metal in London, leading to persistent tightness in the market. Lease rates—which reflect the cost of borrowing metal, generally for a short period of time—remain elevated at around 2 percent, well above their normal levels of close to zero.
Precious metals have also found support on concerns they could face US tariffs, after silver was added last week to Washington’s list of critical minerals, which already includes palladium.
Spot gold rose 0.6 percent to $3,497.25 an ounce as of 10:43 a.m. in Singapore. The Bloomberg Dollar Spot Index was steady. Silver was little changed at $40.71 an ounce. Platinum rose, while palladium fell. With assistance from Yvonne Yue Li/ Bloomberg
Vietnam showcases a military keen to revamp Soviet-era image
By Nguyen Xuan Quynh, Francesca Stevens & Philip J. Heijmans
AS China draws the world’s attention this week with its grand military parade, Vietnam held its own historic event to show that its armed forces and defense industry are trying to march toward self-reliance.
In Hanoi, more than 16,000 troops have been drilling for weeks ahead of the country’s 80th National Day. The spectacle has drawn crowds that camped overnight for a glimpse of soldiers flashing heartshaped hand gestures and other light touches for a parade choreographed to build pride in the Communist Party. For the first time, a naval display was also part of the event, featuring submarines and missile frigates.
Rolling down the street were Soviet-era tanks—relics of a force built for another age. But Vietnam also displayed much newer gear: domestically made drones, cruise missiles and air defense vehicles from Viettel, the military’s telecoms and defense arm, and other staterun factories.
The hardware represents the early results of Vietnam’s push, launched in 2019, to refresh its arsenal and achieve self-reliance after decades of dependence on Moscow for military materiel. Officials, including party chief To Lam, have cast military reform as a strategic imperative, promising a leaner, stronger force by 2030—despite a defense budget more than 20 times smaller than China’s $250 billion and an industrial base that cannot build combat aircraft or warships.
“If anyone expected that to happen quickly, they underestimated the hurdles,” said Greg Poling, head of the Southeast Asia program at Washington’s Center for Strategic and International Studies. “From sensors to screws, everything in
the Vietnamese military was built to Russian specification. They can’t just plug Western equipment into those systems—they have to build a whole separate military ecosystem.”
Vietnam’s efforts come amid unease with China, its powerful northern neighbor and top trading partner, whose South China Sea claims overlap with Hanoi’s and have fueled years of standoffs. Last week, Beijing condemned Vietnam over a report that it had sped up island-building in the Spratlys, while Hanoi has repeatedly urged China to respect its sovereignty. Hanoi has sought closer security ties with the US, India and Japan as a counterweight.
US Secretary of State Marco Rubio said in a statement that Vietnam has become “a vital partner in the Indo-Pacific region and a leader in addressing shared global challenges.”
The Southeast Asian country is projected to spend about $11 billion on defense this year, a 30 percent bump from 2024, although Hanoi hasn’t publicly disclosed where it intends to spend that money. Data show that more than 80 percent of Vietnam’s imported arms came from Russia between 1995 and 2022. Deliveries have slowed dramatically since the invasion of Ukraine.
That has left Hanoi scrambling. Its Russian aircraft are losing airworthiness certificates, and foreign maintenance crews from Ukraine have long since departed, said Carl Thayer, professor emeritus at the University of New South Wales. Vietnam has considered buying Lock-
Vietnam’s efforts come amid unease with China, its powerful northern neighbor and top trading partner, whose South China Sea claims overlap with Hanoi’s and have fueled years of standoffs. Last week, Beijing condemned Vietnam over a report that it had sped up islandbuilding in the Spratlys, while Hanoi has repeatedly urged China to respect its sovereignty. Hanoi has sought closer security ties with the US, India and Japan as a counterweight.
heed Martin Corp F-16s for years but has hesitated given sensitivities with Beijing and Moscow, according to Bloomberg Intelligence. Last December’s defense expo in Hanoi produced just 16 contracts worth $286 million.
“High-level aircraft, fifth-, sixthgeneration, and major combatants at sea take years to integrate and Vietnam can’t make them,” Thayer said.
Vietnam has 70 patrol and coastal warships compared with more than 142 for China, according to a 2025 report from the International Institute for Strategic Studies. Vietnam has eight submarines to China’s 59, and many of the Chinese vessels are much more advanced than anything in Hanoi’s fleet.
Vietnam’s air force, likewise, has only a few dozen modern multirole combat aircraft, compared with nearly 2,000 in China’s inventory.
Viettel has become the centerpiece of Hanoi’s industrial push, and to coincide with National Day, it showcased dozens of “Make in Vietnam, Made by Viettel” systems, from self-propelled howitzers and battlefield communications to radar
and air defense weapons. Reforms that took effect this year allow private companies into weapons production for the first time.
“I’m very excited and especially proud because Vietnam has made our own kind of artillery system, which had never been done before,” Do Manh Thang, an engineer at Viettel Group, said of the howitzer design.
One of the company’s headline systems is a surface-to-air missile battery that can simultaneously engage two targets. Viettel is also producing a mobile coastal defense system that links up to eight launchers armed with Song Hong anti-ship missiles that can strike targets up to 50 miles away.
Another bright spot in domestic production is drones. Vietnam’s CT Group, which showed a prototype drone design at last year’s defense expo, signed an memorandum of understanding to export 5,000 uncrewed cargo aircraft in partnership with a South Korean technology company, and a domestic startup has already begun marketing a foldable backpack drone to customers in the US and the Netherlands.
Foreign military contingents from China, Russia, Laos and Cambodia joined Tuesday’s parade. China dispatched its People’s Liberation Army honor guard at Hanoi’s invitation, underscoring the awkward balance between showcasing sovereignty and preserving ties with its largest neighbor.
“If there is a war in the South China Sea, I’m not so positive about the result,” said Nguyen The Phuong, a maritime security expert at the University of New South Wales. “From the Vietnamese perspective, the main goal of military modernization would be deterrence—trying to exert the maximum cost on China.” Bloomberg
China’s aluminum factories are changing to escape a crushing price war
FOR Liang Zhu, who runs an aluminum factory about 100 kilometers north of Hong Kong, there is only one way out of China’s vicious spiral of excessive competition: shift away from inexpensive metal for window frames and door handles, and toward the specialized alternatives needed for iPads and airplanes.
Guangdong province has long been a powerhouse of light manufacturing. Today, though, many companies like Liang’s are battling to survive in the era of “involution,” a term commonly used to describe the country’s intense, self-harming industrial race. China’s property boom is over, and has left behind small to medium-sized manufacturers saddled with overcapacity, evaporating margins and a relentless struggle for customers.
Rioters targeted her residence near Jakarta, along with the homes of several lawmakers, as protests over rising costs and inequality escalated.
Since the protests began last week, at least five people have been killed and hundreds more injured, while infrastructure has been damaged across major cities.
The finance minister’s statements will be welcome news for investors who view her as a safe and steady hand to maintain fiscal discipline.
Unfounded rumors swirled in recent days that she planned to resign, prompting reporters to ask cabinet members if she planned to step down.
Indrawati said that she’s sworn to uphold the constitution and the law, and public dissatisfaction with certain laws and violations can be expressed through judicial review.
“Our task is to continue to improve the quality of democracy in a civilized manner,” she wrote. “Not through anarchy, intimidation, and repression.” Bloomberg
In her social media posts, Indrawati shared images of several news reports about the looting over the weekend, including pictures of her scattered belongings. In another post, she shared a photo of herself shaking hands with Prabowo, as well as scenes from a cabinet meeting held Sunday night following widespread protests in Indonesia over the past week.
“Without sufficient profits, there will be no funds to invest in innovation, research or in finding solutions for society,” said Liang, general manager at Guangdong Mingzhu Metal Material Technology Co., a company he founded after returning from a spell working in Australia. “That’s a dilemma for us, so we look for ways to get out of this so-called involution.”
Producers of aluminum to be used in railings or furniture thrived in Guangdong from the early reform years of the 1980s up until the country’s real estate crisis began in earnest five years ago. Since then, the region has seen a wave of consolidation.
In July, Mingzhu Metal started up its first production line making items with “7-series” aluminum, a more complex product that’s harder to rework and weld, more resistant to heat and easier to crack when cooling. Most importantly, it has lucrative buyers in China’s emerging higher-value industries—from aerospace to electric vehicles and consumer goods.
Aluminum is arguably the world’s most versatile metal because it’s
lightweight, durable and doesn’t rust. Extruders, as companies like Liang’s outfit are known, take thick bars of semi-finished metal and work it through several phases to form different shapes and profiles, from car frames to supports for solar panels. This corner of the sector has long relied on real estate and infrastructure, so the collapse of construction activity since the start of the pandemic has been devastating. Operating rates for aluminum processors are at about 60 percent to 70 percent for the best-performing companies, and at only 40 percent to 50 percent for the weaker ones, according to researcher Shanghai Metals Market, or SMM. Both are below the 80 percent level deemed a healthy minimum.
Midstream aluminum producers are “facing complex situations such as weak domestic demand, increased uncertainty in foreign trade, and intensified internal competition in the industry,” the China Nonferrous Metals Industry Association said in July. “The price competition situation is quite severe, and overall processing fees have reached an historic low.”
Shandong Nanshan Aluminum Co., a major producer of extrusions in eastern China, is a case in point. The firm said last week it’ll close 120,000 tons of its total 320,000 tons of capacity after recording utilization rates of just 59 percent. It plans to shift its focus to higher-end products for industry and autos.
President Xi Jinping has said he wants to “break involution,” which means reducing the excessive competition and capacity levels blamed
Producers of aluminum to be used in railings or furniture thrived in Guangdong from the early reform years of the 1980s up until the country’s real estate crisis began in earnest five years ago. Since then, the region has seen a wave of consolidation.
both for a cycle of domestic deflation and raising tensions with trade partners.
The campaign is taking different forms across industries. Nationwide coal output declined in July from a year ago, after government inspectors targeted mines that produce too much. Oil refining and petrochemicals are set for a sweeping overhaul. And bosses from electric vehicle companies and some tech giants have been called before regulators and warned about over-competition.
An hour’s drive from Mingzhu Metal is China’s “aluminum capital” of Foshan, known for its panoply of extruders, fabricators and wholesale markets. Here, Foshan Golden Source Precision Manufacturing Co. has passed through several phases of specialization and technological upgrades since it was founded in the early 1990s.
Its showroom exhibits include trailer ramps and bathroom fittings to hard disk components and parts for the Harmony trains that pioneered China’s high-speed rail. The firm has hewn closely to the technological path prescribed by Xi’s Made in China 2025 plan that was launched a decade ago.
Most recently, Golden Source has developed components for EV charging points and lightweight fittings for airplane trolleys. When General Manager Rain Tam took over the business from her father, its founder, she raised spending on technological
research in order to cut costs and to improve product quality.
Even then, there is intense competition.
“Technological innovation helps profit margins for some products, but overall our margins will be a lot worse this year than last,” said Wang Shunli, deputy general manager. “Right now, when it comes to pricing, I feel the pressure is extremely high.” China’s last round of industrial supply reforms after 2015 heralded changes across the sector, from the smelters that produce aluminum to the factories that handle the metal. For extruders, strict new controls on carbon emissions and energy consumption put the squeeze on smaller, less efficient firms.
That’s left an environment that is complex, but also modestly positive. Chinese demand for the metal is set to grow 3.4 percent this year, according to Bloomberg Intelligence. China Hongqiao Group Co., the biggest primary aluminum producer, gave an upbeat outlook after it reported a rise in first-half earnings.
“Overall aluminum consumption is trending upward, but the main issues are rapid capacity expansion and severe product homogenization,” said SMM analyst Liu Xiaolei. “The aluminum industry is shifting toward new energy sectors, but these are also experiencing clear overcapacity.”
In Guangdong, managers and factory workers are settling in for a long battle. Unlike Xi’s last round of supply-side reforms, there’s little prospect of massive stimulus or a renewed construction boom to restore the growth rates of the past.
“The whole industry is experiencing a test,” said Golden Precision’s Wang. “For now, we need to survive first, so that we can advance more in five, seven, eight years.” With assistance from Yujing Liu/Bloomberg
BusinessMirror
‘Sans infra corruption, PHL might have met growth goals’
THEBy Reine Juvierre S. Alberto
Philippines could have attained its growth target in the last two years—if not for the anomalies and corruption plaguing the government’s flood control project.
On the sidelines of the Development Budget Coordination Committee’s briefing for the Senate Committee on Finance on Monday, Finance Secretary Ralph G. Recto told reporters that anomalies in flood control projects have already weighed on the country’s economic growth.
“Maybe if the money had been spent better, we could have grown by 6 percent,” Recto said.
The Philippines consistently failed to reach its growth targets in the last two years.
The economy grew by 5.7 percent in 2024, short of the 6 to 6.5 percent target. In 2023, it also fell short of its 6 to 7 percent target, as the economy only expanded by 5.6 percent.
“We could have grown faster if corruption were reduced, especially
when it comes to ghost projects,” Recto said.
In his presentation during the briefing, Recto said the Department of Public Works and Highways’ anomalous flood control projects have cost the Philippine economy an estimated P42.3 billion to P118.5 billion from 2023 to 2025.
This is equivalent to 95,000 to 266,000 jobs that could have benefited Filipinos, Recto said.
“Raising revenues is no joke. And then you see that these don’t go to the right projects or to the welfare of the people—some even turned out to be ghost projects,” the Finance chief lamented.
Beyond growth, Recto warned that the issue of corruption is denting investor confidence in the country.
Govt looking beyond tariffs to deal with price stability issues
By Cai U. Ordinario
THE national government intends to develop solutions beyond adjusting tariffs to address price stability issues while ensuring that agriculture continues to be remunerative for farmers, according to the Department of Economy, Planning, and Development (DEPDev). DepDev Secretary Arsenio M. Balisacan admitted that adjusting tariffs is not a solution enough to meet three policy goals: making farming remunerative; helping protect farmers from sharp swings in commodity prices; and ensuring that the public has access to affordable food.
Balisacan said that while the Bangko Sentral ng Pilipinas (BSP) is tasked with price stability, the rest of the government can better address price stability issues, particularly those coming from supply side concerns.
“In economics, in optimization theory, if you have two policy goals, you must have at least two instruments to achieve those goals. So here, you have three goals but you just have one instrument,” Balisacan told reporters, speaking partly in Filipino, at the sidelines of a Senate Finance Committee hearing.
“[If that were a] simultaneous system of equations, [that is] unsolvable because you have three endogenous variables, but one instrument, the equation system cannot be solved,” he explained.
Balisacan said high prices, particularly food and especially rice, are crucial for Filipinos. This has been addressed through the adjustment of tariffs of rice and even other commodities.
The Philippine Statistics Authority (PSA) data showed food accounts for 34.78 percent of the Consumer Price Index (CPI) for All Income Households; these carry a weight of 51.38 percent of the basket of goods for the poorest Filipinos. Rice, meanwhile, has a weight of 8.87 percent of the CPI for All Income Households and 17.87 percent of the CPI for the Bottom 30 percent or the poorest households.
“Our team at DepDEV is already looking into various ways of stabilizing farmgate prices, ensuring that farmgate prices would not have to fall when world food prices deteriorate, while at the same time allowing consumers to benefit from such reduction in world prices,” Balisacan said during the hearing.
“Those are, I think, interesting policy issues. I guess our mistake in the past was to rely on one policy tool to address three policy problems, and I think that's unusually tenable,” he added.
Rice tariffs
SENATOR Risa Hontiveros, during the hearing,
raised the possibility of reversing rice tariffs on Asean imported rice back to 35 percent and imposing higher tariffs on rice imported from countries outside the Asean.
Balisacan said this is just one of the options being considered by the government. He said a sustainable option is to adopt a season tariff where a higher tariff is imposed when farmgate prices are low during harvest time.
Another option, he said, is the example of European countries where the government provides rice support for farmers when farmgate prices fall below a certain threshold.
“We can actually see how farmgate prices move over time, ensuring that farmers remain competitive and farmers are remunerative, while at the same time ensuring that the benefits of a falling world prices will also accrue to consumers. So it will be a good balancing act,” Balisacan said.
“Looking at the administrative cost of these different options, but I believe that the options that we are looking at are more sustainable, more efficient, less fiscally costly to government than the current affairs,” he also said.
Last week, the United States Department of Agriculture (USDA) said the increase in the country’s rice output in the first half may not be enough to fill the anticipated demand during the Philippines’ import ban, which kicked off on September 1.
The USDA said the Philippines imported over 750,000 metric tons (MT) of rice from mid-September to mid-November in the last two years and that import demand during the import ban is pegged at the same level this year.
PSA data showed that palay output in January to June grew by 6.41 percent to a record 9.077
sure-on-rice-prices/).
Recto said the Philippines is already facing many challenges, such as the ongoing wars across the world, a trade war, and geopolitical tensions with China.
“It’s bad enough to have these external pressures. We should not top this up with our problems domestically,” the Finance chief said.
Recto added that the DOF supports the ongoing Senate probe on the problems with flood control projects, as well as the possible creation of an independent commission under the Executive to address the issue.
BOC raids Pasig contractor’s place IN a related development, the Bureau of Customs (BOC) on Tuesday executed a court-ordered search of the luxury vehicles owned by the Discaya family.
The Discayas are contractors and own companies linked to the government’s flood control projects under Senate investigation for alleged anomalies.
Customs operatives raided the Pasig City headquarters of St. Gerrard General Contractor and Development Corp. and found two vehicles covered by the warrant— a Toyota Land Cruiser 300 and a
The search team was led by Customs Intelligence and Investigation Service–Port of Manila Field Station Chief Joel Pinawin.
Two other luxury vehicles not listed in the warrant—a Jaguar F-Pace and a bulletproof Cadillac Escalade— were also found, which will be included in the ongoing investigation.
The BOC said that if the investigation establishes that these vehicles were imported without payment of the correct duties and taxes, corresponding enforcement and legal actions will be pursued.
The warrant was served on St. Gerrard’s legal representative with coordination from the Philippine Coast Guard, Philippine National Police, Highway Patrol Group, Land Transportation Office, Department of Transportation, and local barangay officials.
“We will ensure that these vehicles are located without delay, and if discrepancies are uncovered, all taxes and duties will be collected in full. Let it be clear: those hiding or abetting the concealment of these cars will be punished to the fullest extent of the law,” Customs Commissioner Ariel Nepomuceno said.
PHL TRADERS TOLD: ADD 5-7 DAYS FOR DELIVERY SCHEDULES
PHILIPPINE traders have been advised to “buffer” delivery schedules by an additional 5 to 7 days as ocean freight rates bound for Asia, Europe and the United States are seen to rise this month on the back of early preparations for the Christmas season, according to a report by Dimerco, a global logistics service provider.
“With the early preparations for the Christmas season in the Philippines, ocean freight rates are rising as shipment activities increase,” Dimerco’s September Freight Report noted.
This trend, the logistics firm explained, is “typical” for September every year.
The Dimerco report showed that while ocean freight rates are rising to Asia, Europe and the United States, capacity is on an “upturn,” meaning market is picking up, but demand of space can still be met by current supply.
It is worth noting that only the ocean freight rates of Philippine goods bound for all destinations mentioned are rising, compared with Malaysia, Vietnam Thailand, Singapore, Indonesia, Australia and India, whose rates are stable or even falling.
Alvin Fuh, Vice President for Ocean Freight at Dimerco Express Group, explained the trend
among major shipping lines this month.
“We’re seeing major shipping lines adjust their networks as demand and trade patterns keep shifting. For instance, MSC has trimmed about 12 percent of weekly capacity on its Asia-US East Coast service and restructured its Round-the-World routes into two transatlantic loops to make better use of vessels,” Fuh said.
On the financial side, the Dimerco official said the second quarter of the year has been tough for the carriers as profitability is down.
“With lower volumes out of China plus a softer peak season, most carriers are taking a very cautious outlook for long-haul markets,” added Fuh.
As for shipping via air, the report noted that freight rates of Philippine shipments bound for the United States are rising and on a tight capacity, meaning “space gets tight and prearrangement of space is needed.”
“As September marks quarterend for many major manufacturers, space from the Philippines is expected to tighten, particularly on routes to the US,” said the report of the global logistics service provider.
Meanwhile, air freight rates
See “PHL,” A11
PHL panel seeks global maritime solidarity
By Malou Talosig-Bartolome
THE Philippine government is recalibrating its maritime crisis protocols following the unprecedented hijacking of a commercial vessel crewed by Filipinos in the Red Sea, a situation officials described as a “state-level takeover” beyond the scope of traditional piracy.
Speaking at the International Conference on Seafarers’ Human Rights, Safety and WellBeing, Department of Migrant Workers (DMW) Assistant Secretary Jerome Pampolina said the incident exposed critical gaps in global maritime preparedness and underscored the need for coordinated, multi-stakeholder response mechanisms.
“We were prepared for pirates—not for military-grade threats targeting civilian vessels,” Pampolina said.
The Galaxy Leader—a commercial vessel with 25 crew members, 17 are FIlipinos—was seized in November 2023 by Yemen’s Houthi rebels near Hodeidah.
The vehicle carrier is operated by Japan’s Nippon Yusen K.K. but is linked to an Israeli company. The Iranian-backed group claimed the hijacking was in retaliation for Israel’s offensive in Gaza, marking a dangerous escalation in the Red Sea corridor.
Pampolina confirmed that the crew was released in January 2025, following extensive diplomatic negotiations facilitated by the Sul-
tanate of Oman.
But the crisis is far from over. As of July 2025, nine Filipino seafarers from the MV Eternity C remain in Houthi custody following a deadly attack on the Liberia-flagged bulk carrier in the Red Sea. The vessel, managed by a Greek company, was reportedly targeted with sea drones and rocket-propelled grenades on July 7, causing it to sink.
Of the 21 Filipino crew members aboard, eight have returned home, three are presumed dead, and one remains missing.
In response to the crisis, the DMW issued a series of department orders in early 2024, mandating ship owners and manning agencies to:
Notify the DMW before entering warlike or high-risk zones
Submit crew manifests and security plans
Allow seafarers the right to refuse deployment
• Divert routes away from conflict areas when possible
“These measures may seem strict, but most casualties in these attacks were Filipino seafarers,” Pampolina said. “We had to act decisively.”
The department also prioritized family engagement, holding regular briefings with the families of the Galaxy Leader crew.
“In the Philippines, family is central. The less they know, the more stressful it becomes,” Pampolina added. “We kept them informed, coordinated with the DFA, and ensured psychosocial and financial support upon the crew’s return.”
Capt. Abdulrahim Mohammed Khamis Alrasbi, Head of Seafarers Affairs at Oman’s Ministry of Transport, emphasized the importance of neutrality and humanitarian-first diplomacy.
“Seafarer safety comes before legal or financial disputes,” he said. “We ensure immediate access to food, medical care, and communication with families.”
Alrasbi called for stronger international cooperation, noting that Oman’s role in the Galaxy Leader’s release was grounded in collaborative diplomacy.
“Governments must talk. We need trusted partnerships to resolve crises humanely,” the Omani official stressed.
Capt. Chris O’Flaherty, senior technical manager of The Nautical Institute, added a technical dimension to the panel, drawing from his experience in the UK Royal Navy, where he served in roles ranging from Navigating Officer to Command aboard vessels from minesweepers to aircraft carriers.
“Today’s threats—piracy, missiles, mines— require three pillars: ship design and equipment, planning and preparation, and conduct during the event,” O’Flaherty said. He cited the updated Best Management Practices for Maritime Security, co-published with the International Chamber of Shipping, as a key resource for readiness.
Recounting a near-encounter with pirates aboard a cruise liner, O’Flaherty stressed the
value of drills and stress management. “We were approached, not attacked—because our preparation kicked in. The bridge team executed flawlessly.”
He warned that missile threats in the Red Sea demand warship-grade countermeasures, but emphasized that even basic drills and crew confidence can improve survival odds. “If seafarers trust their master, they can cope better with high-risk situations.”
On mine warfare in the Black Sea, O’Flaherty shifted focus to leadership and mental readiness.
“Transit zones require days of vigilance. Educated masters must prepare their crew—daylight steaming, high-water navigation, and lookouts build confidence,” the former British Navy officer and diplomat said. He urged the maritime sector to dismantle silos between navies and merchant fleets. “We’re all seafarers. Use your coast guards, use your militaries. The knowledge is there—let them onboard and let them help.”
As threats evolve, O’Flaherty proposed a simple protocol: “Let’s talk. Between armed forces, coast guards, and the Merchant Navy. That’s how we overcome high-risk situations.”
The panel closed with a shared takeaway: maritime safety is a collective responsibility. “We don’t have a monopoly on solutions,” Pampolina said. “This crisis showed us that communication and collaboration across borders, sectors, and cultures is the only way forward.” The conference continues this week with sessions on mental health, labor rights, and digital safety for seafarers navigating increasingly volatile waters.
Maserati Levante Modena 2022.
SHORTFALL STORY Economic managers attend the DBCC briefing on the proposed 2026 National Budget at the Senate in Pasay City on Monday, September 1, 2025. In photo (from left) are DBM Secretary Amenah Pangandaman, DEPDev Secretary Arsenio Balisacan, PSA Undersecretary Claire Dennis Mapa, and DOF Secretary Ralph Recto. The Finance chief said the country could have met its
the
sector (Story above). The panel, presided over by Senator Win Gatchalian, reported that the budget deficit widened to
DEPDEV Secretary Arsenio M. Balisacan
Editor: Jennifer A. Ng
Vitarich buys Davao del Sur poultry grower for ₧280M
By VG Cabuag @villygc
THE board of Vitarich Corp. has approved the acquisition of Broilers Club Inc. (BCI), which has its own breeder farm facilities in Davao Del Sur, for about P280 million.
A memorandum of agreement was signed, “after exhaustive discussions in several meetings,” between Vitarich, BCI and the shareholders of BCI.
The deal involves the purchase of breeder farm facilities in Davao Del Sur, including land, improvements, equipment and 125,000 common shares of stock and advances of BCI shareholders in the company.
“Assuming conditions are met, the transaction is a strategic step to the current breeder farm operations of VITA. The additional capacity
is expected to produce as much as an 8 percent increase in total VITA breeder output,” the company said. Broilers Club is a private domestic corporation engaged, among others, in poultry and egg production. The said transaction will be completed upon the result of the due diligence review by Vitarich, which will commence upon the execution and signing of the agreement. It will expected to be done in 90 days from the completion of all the documents requested from BCI and its share holders, the company said.
“Should the conditions be fully satisfied and the intended transactions eventually materialize, the above-mentioned facilities will be used as VITA’s breeder farm, while BCI will become a subsidiary of VITA. At present, the transaction is not seen to have any adverse effects on VITA’s operations,” the company said.
In 2021, the government gave tax incentive to BCI’s P87.8-million project, which consists of three poultry houses in Sta. Cruz, Davao del Sur. The poultry has a capacity of 4.9 million eggs yearly, and employs 43 persons.
Last May, Vitarich reported that its net income surged to P241.6 million in the first quarter from the previous year’s P6.22 million.
Revenues grew 9 percent to P3.19 billion from the previous year’s P2.93 billion, primarily driven by higher nationwide pricing of chicken products and sales of day-old pullets. This growth was partially offset
by lower volumes sold and reduced pricing for feeds due to the limited supply of day-old chicks in the market, the company said.
“This performance boosts our outlook and reinforces our confidence in navigating an evolving macroeconomic environment. As we move through the year, short-term disruptions such as the shortage of day-old chicks may continue but we remain focused on pursuing a range of opportunities that we believe will further strengthen our business and fuel sustained growth in the years ahead,” Rocco Sarmiento, the company’s CEO, said.
“Based on current visibility, we have scheduled additional breeder orders for the second and third quarters to manage supply disruptions. We also expect to increase capital expenditure over the course of the year related to our investments in poultry houses, in line with our strategic priorities.”
3, 2025
Globe leads PHL anti-scam alliance ACEN
By Lorenz S. Marasigan @lorenzmarasigan
WITH nearly a third of Filipinos losing money to scams, Globe Telecom Inc. said on Tuesday it has taken the helm of the Global Anti-Scam Alliance (GASA) Philippine Chapter, a multi-sector initiative that brings together telcos, banks, tech platforms, regulators, and civil society to counter the surge in online fraud. Anti-scam technology firm Gogolook and social media platform Meta were also named as vice chairs. Formed with stakeholders from payments, banking, technology platforms, and civil society, GASA Philippines will soon form working groups and establish an advisory body to combat and prevent scams.
Aside from private sector participants, GASA is supported by the Department of Information and Com-
SANDARI Calatagan recently held its much-anticipated “Mindful Investor: An Exclusive Investors’ Night” on August 28, 2025, at Alejandro’s Dining, Bar & Events. The evening brought together investors, families, and industry partners eager to learn more about the growing opportunities in Sandari Calatagan and Sandari Batulao, flagship developments of Citystate Properties and Management Corporation (CPMC) under the ALC Group of Companies.
The program was formally opened by Marky Almazora, AVP for Marketing and Communications, who presented the company’s vision and introduced the Sandari projects. Lending strong support was CPMC Executive Vice President Maureen Azarcon, who graced the event with her presence alongside some of CPMC’s executives and heads.
Rowena Riego De Dios, VP for Sales and Marketing, highlighted the availability of new lots at DIMA Sandari Batulao, while Evangeline Defeo and Katie Realco shared project updates and key announcements. Adding practical insights, Dessa P. Reverente, Branch Sales Department Head of China Savings Bank,
munications Technology (DICT), the Philippine National Police AntiCybercrime Group (PNP ACG), the National Privacy Commission (NPC), the National Telecommunications Commission (NTC), the GSM Association (GSMA).
“The threats we face in the digital world are growing more complex by the day. That’s why we at DICT fully support GASA’s collaborative model,” said DICT Secretary Henry Aguda. “Combating scams isn’t just a tech issue, it’s a trust issue. Through this alliance, we can move as one, strengthen safeguards, and give Filipinos the confidence to fully participate in the digital economy.”
GASA research shows scams are among the most reported crimes globally. In Southeast Asia, 63 percent of adults say they encountered a scam in the past year, with 22 percent losing money. In the Philippines, the share of victims who actually lost money is higher, at 31 percent.
“Our vision is to empower and secure every Filipino against the changing landscape of digital fraud and scams. We’re focused on education, real-world guidance, and actionable intelligence and partnerships for consumers and enterprises, delivered in collaboration with public and private partners who can disrupt the scam ecosystem,” said Derick Adil, GASA Philippines Co-Chair from Globe.
Globe Chief Privacy Officer Irish Salandanan-Almeida said the GASA will also focus on building trust among consumers.
“Filipinos deserve a digital space they can trust. Chairing the GASA Philippine Chapter allows us to bring the right people to the table, share fraud intelligence, and act with urgency,” she said. “Our goal is simple: Prevent fraud, stop scams, and make recovery easier for victims.”
She added that Globe’s leadership role builds on its sustained anti-scam
discussed home loan options that empower Filipinos to invest in their dream properties. The event also featured inspiring testimonials from Sandari Calatagan investors. JC Lumba, a partner broker and head of Expanse Realty, shared his investment journey, citing the strong returns from property ventures such as bed-andbreakfast developments. He noted, “Maganda ‘yung BNB business (The BNB business is promising), kasi may kita ‘yung friends namin
(because our friends are earning), they’re earning 400 to 700 thousand in a month.”
In Sandari Calatagan, this is possible because properties allow owners to establish bed-and-breakfast (BNB) businesses on their lots, providing a smart way to generate passive income while maximizing the value of their investment. According to Lumba, the BNB market is thriving, especially given Batangas’ appeal as a tourist destination for residents of Metro Manila and nearby cities,
initiatives. In the first half of 2025 alone, the company blocked over 484 million spam and scam messages. It was also the first Philippine telco to block person-to-person SMS with clickable links and continues to work with regulators to take down scam websites.
“Scammers prey on emotion and speed. The answer is community and coordination,” said Rajeshpal Singh GASA Southeast Asia Advisor. “The Philippine Chapter connects banks, telcos, platforms, and public agencies so we can share intelligence quickly and give people practical protection that works.”
The alliance plans to tap GASA’s partnership with the Global Signal Exchange to enable local teams to act swiftly on verified scam signals such as malicious domains and accounts. Committees and timelines will be finalized in the coming months to ensure tighter coordination among members.
making it a high-potential investment for both profit and long-term growth.
Meanwhile, Aldrei Gaurana, Sandari’s youngest investor, emphasized the personal and family value of his investment, saying that Sandari Calatagan offers both breathtaking views and a long-term legacy. “It’s a really good place, facing the sea. Gusto rin kasi ng family ko na nasa dagat (My family also prefers to be by the sea).”
Closing the event, Rowena Riego De Dios expressed gratitude to attendees and reaffirmed CPMC’s commitment to building communities that balance wellness and investment. She also announced that the company is preparing for its upcoming Open House this Ber months, signaling continued opportunities for future investors.
The evening concluded on a high note, marking yet another successful milestone for Sandari Calatagan and Sandari Batulao in creating spaces that embody wellness, investment, and lasting value.
Citystate Properties and Management Corporation is part of the ALC Group of Companies, founded by the late Ambassador Antonio L. Cabangon Chua and is currently chaired by D. Edgard A. Cabangon.
By Lenie Lectura @llectura
ACEN Australia, the platform representing ACEN Corp.’s renewable energy (RE) assets in Australia, said its 900-megawatt (MW) Robbins Island wind project in Tasmania will start generating power in 2030. The AUD$3-billion development is also expected to generate enough power for up to 500,000 homes, create up to 400 construction jobs, and deliver more than AUD$30 million annually to the Tasmanian economy, alongside a AUD$27-million community benefits program for the Circular Head region.
“This project expands our footprint beyond New South Wales, and allows us to serve customers in Tasmania and Victoria. We are very excited by this achievement, and appreciative of all the stakeholders that have played a part in its successful outcome,” said ACEN Australia Executive Chairman Jose Maria Zabaleta. The project will also help the state and federal governments reach legislated emissions commitments, including Tasmania’s goal to double clean energy production by 2040, half by 2030.
ACEN Australia has two of the largest operating solar farms in the country, each at approximately 521 megawatt direct current (MWdc) or 400 megawatt alternating current (MWac) New England Solar and 520 MWdc (400 MWac) Stubbo Solar. Both are located in New South Wales, with Stubbo Solar having completed construction in recent weeks. It is expected to complete commissioning, achieve its commercial operations date, and hold its formal opening within the next six weeks.
It is also constructing its first battery project in the country, the New England Battery with 400 MW hour (MWh) scheduled to be operational before the end of 2026. Other battery projects are advancing in development, with potential new construction starts in the next 18 months.
The company has other projects in advanced development—3the 780 MWdc (600 MWac) Birriwa Solar and the 1,200-MWh Storage Hybrid project in New South Wales secured its development approval last year and transmission access rights from EnergyCo this year.
The 900-MW Valley of the Winds project also secured transmission access rights this year, and its development approval just three months ago. The project was among the winners of the Federal Government’s Capacity Investment Scheme revenue underwriting tender.
The 800-MW Phoenix Pumped Hydro Storage project was also a winner earlier this year of a competitive tender for a Long Duration Storage Long Term Energy Service Agreement with EnergyCo of the New South Wales government to provide revenue certainty to support private investment.
With more than 1-gigawatt (GW) capacity of large-scale renewable energy generation in construction and operations, and more than 10-GW capacity in the development pipeline, its portfolio includes solar, wind, battery and pumped hydro projects across Australia.
The 900-MW Robbins Island wind project recently secured federal approval, following more than eight years of assessment by all levels of government, including detailed studies of Robbins Island’s natural values.
Tthreat to the long-term health of the industry. Bloomberg News
CITYSTATE Properties and Management Corporation executives, VP for Sales and Marketing Rowena Riego De Dios and Brokers Manager Evangeline Defeo, pose
PHOTO FROM WWW.ACENRENEWABLES.COM
BSP hands out penalty to errant staff, execs
By Cai U. Ordinario @caiordinario
THE two supervisors that approved the falsified attendance records of four staffers last year were meted with the maximum penalty by the Bangko Sentral ng Pilipinas (BSP).
In a statement the central bank issued last Tuesday, the BSP said the maximum penalty, apart from dismissal, is the disqualification from holding public office and the forfeiture of their retirement benefits. The statement didn’t name the officials.
The BSP added the penalties also included the cancellation of civil service eligibility; perpetual disqualification from holding public office; and barred from taking civil service exams.
“The imposition of maximum administrative penalties on the supervisors is the BSP’s latest step in addressing an issue it always took seriously, valuing the integrity the institution is known for,” read the central bank’s statement.
“The BSP has handled the issue as swiftly as possible while observing the standards of due process to ensure that the decision upholds justice and accountability,” added the central bank.
The “issue,” according to a statement issued by the BSP in May last year, stemmed after the central bank’s Office of the General Counsel (OGC) triggered an investigation in October, 2023, “after receiving credible information that several staffers in the offices of two MB members had not been reporting for work for extended periods of time but were nonetheless receiving their salaries.”
“In December [2023], the [OGC] received an initial report of the investigation and instructed the investigating team to proceed with an in-depth investigation. In January [2024], the investigating team submitted the final investigation report, where four employees and their two immediate supervisors were identified,” the BSP further said.
The central bank said that from late February to early March last year, four of the employees and one direct supervisor implicated in the report tendered their resignation.
“Administrative disciplinary cases were filed in March before effectivity of their separation.”
We are constrained from commenting further on the Monetary Board members because they are presidential appointees.
O n the matter of two former Monetary Board members the BSP pointed to the Office of the President.
“The two former MB members, whom the staffers reported to, submitted their resignations to the Office of the President in June 2024. As presidential appointees, [the] OP has jurisdiction over the former MB members. [The] OP addressed this on 15 July 2025,” the BSP said.
The central bank added in its latest statement that “part of the efforts to prevent similar wrongdoings at the BSP, [it] has strengthened its whistleblower mechanism and enhanced training of supervisors on employee discipline, enforcing the Code of Ethics, administrative action, and incident escalation, among others.”
The BSP added it also “enhanced” the onboarding of new employees on rules and values with the incident serving as one of the “standard discussion points in onboarding.”
According to the central bank, it also reorganized the BSP’s Committee on Ethics and Decorum, which will not be led by a Deputy Governor contrary to the previous setup where the head of the committee was at the director level. The BSP said it has also created a new human resource system that uses online processes such as those on the submission of timesheets and approval of supervisors.
The central bank also said there is an ongoing study on the organization and management of MB members, including additional oversight by the Office of the Secretary of the MB.
Banking&Finance
Govt seen to overspend, widening deficit
By Reine Juvierre Alberto @reine_alberto
DESPITE a modest narrowing in the Philippines’s fiscal deficit expected in 2026, the shortfall could still overshoot government expectations due to overspending, according to a unit of the Fitch Group.
In its latest commentary, BMI Research said next year’s fiscal deficit will exceed the 5.3-percent target by 0.1 percent as this would reach 5.4 percent of the gross domestic product (GDP).
“Since the Marcos administration began in 2022, the government has overshot both its revenue and expenditure targets, the latter to a larger degree than the former. The government has set a 5.3 percent fiscal deficit-to-GDP ratio target for 2026. We think they will fall short,”
read the commentary.
On the revenue side, the commentary read that collections are expected to reach 17.2 percent of GDP next year, higher than the government’s 16.2 percent projection and up from 16.7 percent this year.
According to the commentary, Manila has tended to underestimate its revenue collections. However, this stance is not sustainable, the commentary read.
Privatization is expected to raise P101 billion, or 0.3 percent of GDP.
The commentary read that the Capital Markets Efficiency Promotion Act (CMEPA) and the 12-percent digital value-added tax will add just 0.1 percent of GDP in revenue.
In addition, US President Donald Trump has threatened to impose tariffs on countries that adopt digital taxes, which could force the government to water down its digital VAT by exempting US firms.
“Otherwise, higher tariffs would weigh further on the economy and depress collections,” it said.
The commentary read that total outlays will reach P6.9 trillion, equivalent to 22.5 percent of GDP. If passed, this would be consistent with government consumption increasing by around 7.5 percent in 2026 and contributing just over one percentage point to real GDP growth, according to the commentary.
Defense and education will be prioritized in next year’s budget, with allocations for the two sectors expanding by around 14 percent from 2025.
“Escalating tensions with China
in the South China Sea have strengthened the case for upping military spending, while the Philippine constitution obliges the government to afford education the ‘highest budgetary priority,’” read the commentary. The defense budget, despite three straight years of double-digit growth, will still only amount to 1.4 percent of GDP—well below NATO’s 2-percent benchmark and far from the 5 percent that the United States expects its allies to spend.
Even if the country sustained annual 14-percent increases, defense spending would only reach 2 percent of GDP by 2035, read the commentary. Without abandoning its fiscal consolidation drive, this could mean fewer resources for other sectors over time, it added.
Further, the education budget will reach P1.224 trillion, equivalent to 4 percent of GDP—just meeting the Unesco-recommended allocation.
Most of the increase will go to “support to schools and learners,” with less emphasis on improving accessibility to educational resources
and infrastructure.
The Marcos administration has earmarked only P28 billion, or 0.1 percent of GDP, for new classrooms, far below the Department of Education’s estimate that 1.4 percent of GDP is needed to build 165,000 additional classrooms nationwide.
“Underinvestment in educational infrastructure has persisted for decades, indicating a lack of political will, which will weigh on educational outcomes for Filipinos and on longterm GDP growth,” read the commentary. “What was conspicuous by its absence was a clearer strategy and allocation of resources to tackle the threats to the labor market and wider economy posed by AI.”
While the government is keeping its 5–6 percent of GDP commitment to infrastructure, spending on digital infrastructure is only 0.1 percent of GDP.
“This bodes poorly for the Philippines’s ability to navigate the disruptions AI is set to cause and to exploit productivity gains from AI,” read the commentary.
₧150B revenue loss blamed on smuggling
THE government could suffer a revenue loss of about P150 billion this year due to smuggling, according to the Department of Finance (DOF).
During Cabinet-level Development Budget Coordination Committee’s briefing to the Senate Committee on Finance last Tuesday, Finance Secretary Ralph G. Recto said smuggling could cost the government around P150 billion this year.
Recto said this estimated figure refers to potential revenue losses on the part of the Bureau of Customs (BOC), covering foregone collections from general merchandise and oil.
Both the BOC and DOF have presented a catch-up plan to address the leakage and potentially collect what they would lose, Recto added.
Revenue Operations Group Un-
Finance Secretary wants key rates further slashed
FINANCE Secretary Ralph G. Recto is in favor of reducing the policy rate further in the next meeting of the Monetary Board in October.
Recto, who also serves as a member of the Monetary Board (MB), said last Tuesday that if it were up to him, the key policy rates could be set below the current 5 percent.
“As far as I’m concerned, I am in favor of reducing the policy rate,” Recto said in the vernacular.
The Bangko Sentral ng Pilipinas (BSP) reduced the target reverse repurchase (RRP) rate by 25 basis points to 5 percent on August 28. The interest rates on the overnight deposit and lending facilities were also adjusted to 4.5 percent and 5.5 percent, respectively. (See: https://businessmirror.com.
THE Bureau of the Treasury (BTr) successfully raised P30 billion from the local debt market by auctioning off 7-year Trea-
Bids
and
(T-bonds) on
the
P30
2.2
P66.694
fetched a coupon rate of 6.750 percent. The tenor’s average rate slipped to 5.939 percent, an 18.5 basis points decline from 6.124 percent in the previous auction on June 10
Recto’s statement comes after the statement of BSP Governor Eli M. Remolona Jr. to Bloomberg that the MB may hold interest rates steady in October.
Remolona said inflation has reached its “sweet spot” that would ensure fast output growth. However, if demand slows, monetary authorities may consider another policy rate cut.
The BSP governor earlier said interest rates may have reached the “Goldilocks” point at 5 percent, which is neither too high nor too low.
This view is supported by a unit of Fitch Group, which noted that the differential rate between the US Federal Reserve and BSP’s rates are at its “tightest” at 50 basis points.
➔ Manulife PHL bags award
dersecretary Charlito R. Mendoza told reporters on the sidelines of the briefing that the DOF sees this leakage to be plugged.
“With all the anti-smuggling measures that we’re doing, and with all the new laws to combat smuggling, we expect that to go down,” Mendoza said.
Data from the BOC showed the BOC confiscated a total of P85.167 billion in 2024 through a series of anti-smuggling operations.
Based on records, counterfeit goods topped the list of seized items based on value, with an estimated amount of P34.698 billion; followed by multiple various items (P33.443 billion); cigarettes, tobacco, and vape products (P9.294 billion); vehicles, accessories, and vessels (P4.243 billion), and illegal drugs (P1.901 billion).
THE Manufacturers Life Insurance Co. (Phils.) Inc., the local arm of international financial services provider Manulife Financial Corp., announced it was named as one of “Best Companies to Work for in Asia” by Business Media International Sdn Bhd, publisher of the HR ASIA magazine. According to the company, it was cited for its sustainability practices for its “Sustainable Workplace Award.” The company said it was recognized for fostering a culture of engagement and inclusion through employee resource groups and an active engagement council, and initiatives that connect, support and inspire its people. The company has also expanded its colleague volunteering efforts under its Impact Agenda, enabling team members to meaningfully contribute to causes that promote sustained health and well-being, inclusive economic opportunities, and a sustainable future. VG Cabuag
Igloo taps Skyro to sell insurance product
➔ THE Axinan Pte Ltd (DBA Igloo) announced it is expanding its agreement with Skyro Lending Inc. to launch a personal accident insurance product with an additional benefit to protect households from floods and fires. The new offering will be made available to Skyro’s network of over 700,000 active
this year. The average yield is higher by 3.4 basis points from the secondary market rate of 5.905 percent based on the Philippine Bloomberg Valuation Service (BVAL) reference rate for the 7-year tenor. Similarly, this increased by 2.1 basis points from the BVAL rate for the security itself at 5.918 percent. Rates of the debt papers ranged from a low of 5.900 percent and a high of 5.950 percent. According to Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort, the easing of local interest rates brought
down the government’s borrowing costs.
The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) reduced the Target Reverse Repurchase (RRP) Rate by 25 basis points to 5 percent on Thursday. 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/ ). Ricafort said BSP Governor Eli M. Remolona Jr. gave less dovish signals on a possible 25-basis points
The DOF does not have data yet on how much smuggling would cost the Bureau of Internal Revenue (BIR), which is the country’s main tax-collecting agency. In 2024, the BIR suffered a revenue loss of P54.4 billion due to the illicit tobacco trade alone. Excise tax collections from tobacco also fell to P134 billion in 2024 from P176 billion in 2021, according to the DOF, with estimates of annual revenue losses amounting to P52 billion due to illicit trade alone.
The rampant illicit tobacco trade and misdeclaration of vapor products are also projected to cost the government a combined P240.3 billion in excise tax leakages over the next three years, based on the estimates of the OSSTG Ways and Means Committee. Reine Juvierre S. Alberto
loan customers nationwide, read Igloo’s statement issued last Wednesday. The company didn’t disclose the value of the agreement. “Having these insurance options is about making sure people don’t have to start from zero each time they are recovering from the next typhoon,” John Chen, Igloo’s Country Manager for the Philippines and Thailand, was quoted in the statement as saying. “Through these partnerships, we are bringing insurance closer to everyday Filipinos, those who are most at risk but least protected.”
BPI earns honors from US publisher
➔ THE Bank of the Philippine Islands (BPI) announced last week that “it has been recognized with multiple international awards for its pioneering role in sustainable finance, reaffirming its long-standing commitment to responsible banking practices that create lasting impact for communities, businesses, and the environment.” At the Best Investment Banks and Sustainable Finance Awards by New York, USheadquartered Global Finance Media Inc., BPI was honored with four distinctions, read a statement issued by the lender. “These accolades highlight BPI’s framework, where sustainability is achieved when ‘Environmental, Social, and Governance’ (ESG) initiatives translate into measurable economic value.”
rate cut for the rest of the year if economic data remained weak, or even no more rate cut for the rest of 2025 if the economic data remained the same. The MB still has two more meetings this year: in October and in December.
CAREER COACH This undated photo courtesy of Allianz PNB
Inc. (AZPNBL)
Editing your inner script
EVERY person carries an inner storyteller. This voice is constantly at work, shaping how we see ourselves and how we move through the world. Sometimes it tells stories of strength, hope and possibility. Other times it clings to constricting beliefs and repeats scripts like “I am not good enough,” “I always fail,” or “I do not deserve better.” These are not simply words. They can become invisible rules that guide our choices, influence our relationships, and color our outlook on life. The good news is that stories can be rewritten.
Think about how a single event can be told in many different ways. Losing a job might be described as a devastating blow or as a chance to start fresh. Forgetting a line during a play might be remembered as proof of incompetence or as an opportunity to show grace under pressure. The facts are the same, but the story changes depending on how we frame it. Over time, repeating one version of the story can shape our identity. If we always tell ourselves that we are failures, our actions may shrink to fit that role. If we begin to see setbacks as stepping stones, we create space to grow.
I remember a time when I choked during a presentation in front of many executives. I could not continue because I could not breathe properly. At that moment, I felt humiliated and convinced myself that I was not cut out for high-level presentations. For weeks, I replayed the scene in my head and the story I told myself was that I had failed in front of people who mattered most. Later on, I discovered that an underlying medical condition had contributed to the episode. That realization helped me see the event differently. Instead of viewing it as proof of incompetence, I began to see it as both a health signal and a lesson in resilience. The story slowly changed from “I embarrassed myself” to “I faced a setback, but I learned what I needed to do to prepare better for the future.” That reframing gave me courage to face new challenges.
One way to start rewriting unhelpful stories is to listen closely to your self-talk. Pay attention to the phrases that often repeat in your mind. For example, when facing a challenge, do you hear yourself say,
“I cannot do this” or “I always mess things up”?
These phrases may feel like facts, but they are really interpretations. The next time you catch one, ask, “Is this story absolutely true?” This small pause interrupts the automatic loop and creates space for a more balanced perspective. It also helps to identify the origin of the story. Many of our most powerful inner scripts were formed in childhood or in moments when we felt vulnerable. Perhaps you were once told you were not creative, and now you avoid trying new ideas. Or maybe you experienced rejection, and now you assume people will always leave. Recognizing that these stories started in the past can help you see that they are not permanent truths. They are simply old drafts that no longer fit who you are becoming.
Rewriting a story does not mean ignoring difficulties. It means reframing them in a way that empowers rather than diminishes. Imagine telling yourself, “I made a mistake, but I learned something valuable,” instead of “I always fail.” This shift is not about blind positivity but about creating a more complete and compassionate narrative. The new story acknowledges the setback while also pointing toward growth. Over time, choosing such interpretations builds resilience and confidence.
Practical exercises can make this process easier. One simple practice is journaling. Write down a difficult event and describe it as you normally would. Then rewrite the same event from a different angle,
highlighting what you learned, how you coped, or how it revealed your strength. Reading the two versions side by side can be eye-opening. Another practice is to speak your new story out loud. Sharing it with a trusted friend or even saying it to yourself in the mirror can make it feel more real.
You can also borrow inspiration from literature and film. Notice how heroes in stories often face failure before triumph. They stumble, doubt themselves, and sometimes feel lost, yet they continue moving forward. If you imagine yourself as the main character in your own story, moments of struggle begin to look less like proof of weakness and more like chapters of transformation. It is also important to remember that rewriting stories is not a onetime task. Old narratives have a way of resurfacing, especially in moments of stress. When they do, treat yourself with patience. Each time you choose a new interpretation, you are strengthening a different pathway in your mind. With repetition, the new story becomes more natural, and the old one loses its grip. Everyone has the power to edit the script they live by. You may not control every circumstance, but you can influence how you interpret what happens. By paying attention to your inner storytelling, questioning old beliefs, and practicing new perspectives, you open the door to a more empowering narrative. The stories you tell yourself can either hold you back or carry you forward. The choice and the pen are in your hands.
Shell’s 58th NSAC finds stronger ground through strategic partnerships
SHELL Pilipinas Corp. continues to champion young Filipino artists through this year’s 58th Shell National Students Art Competition (NSAC), a program that has nurtured generations of creatives for almost six decades. What makes this year’s Shell NSAC more significant is the strong collaboration of brands such as Boysen Philippines, IFEX, and Airspeed, along with museums and galleries nationwide.
Through the combined efforts of longtime and new sponsors, the competition continues to evolve as a dynamic platform that celebrates the country’s visionaries.
This year’s theme, Alab, calls on college students to ignite their creative passion and express ideas that resonate with today’s generation. Shell and its partners share a common drive: to empower young talent and contribute to societal progress through the transformative power of the arts.
For Boysen Philippines, championing
sustainable creativity means supporting platforms like Shell NSAC that showcase the power of art in shaping society.
International Fine Paper Exchange Inc (IFEX) believes that the competition reflects how creativity can fuel not only artistic expression but also broader economic opportunities. By collaborating with Shell, IFEX reinforces its mission to link Filipino talent to industries where innovation and artistry intersect.
Airspeed, on the other hand, emphasizes innovation and connectivity, values that resonate strongly with Shell NSAC’s national reach. Through its support, Airspeed helps bridge communities and students across regions, ensuring that every aspiring artist has access to every opportunity.
Beyond private sector partners, Shell NSAC is also strengthened by the support of galleries nationwide. These institutions view the program as a crucial platform for fostering creative education, helping students showcase their talents, and inspiring the next generation of Filipino artists. Through these partnerships, Shell NSAC continues to extend its reach, proving that art can thrive in every community that celebrates Filipino culture.
For updates on the 58th Shell National Students Art Competition, including exhibit schedules, finalist announcements, and key events, follow Shell Pilipinas Corporation’s official website and social media channels (Facebook, TikTok, Instagram, YouTube, LinkedIn).
By Eugenia
LEO (July 23-Aug. 22):
will
back. A change is overdue, and it’s up to you to initiate what you want to achieve. Refuse to let technicalities stand between you and your dreams. Take care of legalities, rules and regulations quickly, and you’ll capture your dreams. ★★★
VIRGO (Aug. 23-Sept. 22): Take pleasure in who you are, what you’ve done and what you still want to achieve. Having a plan in place will lower your anxiety and encourage you to pick up the pace to ensure success. Refuse to let inconsistency be your demise or outsiders confuse you. Do your research and make things happen your way. ★★★★★
LIBRA (Sept. 23-Oct. 22): Sit back and refuse to let your emotions or temper escalate. Look for peace and tranquility in places that bring you joy. Stick close to home or find your comfort zone wherever you are. You will have to call the shots if you want to avoid situations that have a propensity to escalate quickly. ★★
SCORPIO (Oct. 23-Nov. 21): A little charm will go a long way. Distance yourself from unreasonable people and unnecessary pressure. Focus on your talents, skills and goals, and you will discover the best approach to accomplish tasks to your specifications and without interference. A unique plan will harvest the most growth. ★★★★
SAGITTARIUS (Nov. 22-Dec. 21): You’ll crave change, but don’t take on more than you can handle. Listen to what others say, but only commit to what’s feasible. A shift in perspective regarding some of your acquaintances will encourage you to explore different avenues for entertainment. Don’t believe everything you hear, and get what you want in writing. ★★★
CAPRICORN (Dec. 22-Jan. 19): Acting in haste will backfire. Investigate any activity you plan to participate in thoroughly to ensure it falls within your price point and that the returns will meet your expectations. A change in your routine will jump-start your mind and encourage you to expand your awareness regarding matters of concern. Romance is on the rise.
AQUARIUS (Jan. 20-Feb. 18): Keep pushing forward until you are satisfied with the results. You have plenty to gain if you adjust your home environment to suit your needs better. Setting up a space that is convenient for what you want to accomplish will encourage results. An unusual marketing strategy will pay off. ★★★
PISCES (Feb. 19-March 20): Be a leader, not a follower. Problems with someone you interact with will inevitably arise, altering your feelings about continuing the relationship. Take a timeout and rethink your next move.
Show BusinessMirror
NEPO BABIES
NOW that netizens are targeting nepo babies of politicians and government contractors, there are those eyeing the kids of a very powerful and rich man. These kids studied abroad and don’t even speak Tagalog or the dialect of their father’s hometown, but they are already being groomed for public office. They also do not seem to be very smart. These kids are lucky because their father and his people are excellent at public relations and evading real issues or else they would have been exposed already. The kids were groomed for politics since childhood with their mother as their father’s willing accomplice. The father is from a family of politicians.
NO THANK YOU
THE actress received an offer to co-star opposite an actor who was considered her favorite leading man. The actress is thinking about the offer and trying to see if it will benefit her career. However, her husband does not want her to do it. He is not jealous of his wife’s former screen partner but intimidated by the potential of the project. As a man, the husband has a lot of insecurities and one of them is people assuming that his wife is the family’s breadwinner, which is kind of true. So for now, that project is not in the actress’ immediate future.
SOON TO BE A DAD
HE is one of showbiz’s up-and-coming actors and he is good-looking and seems talented enough. He has also gained a decent following online and fans who are truly invested in his career. However, he has lately been hounded by rumors that he will soon be a dad. The actor had a girlfriend, who is allegedly pregnant right now. The actor seems quite young to be a dad.
SIDELINED
THE actress is no longer that active in showbiz yet she is still living the life. She has a big house, lots of money, and trips abroad. These are all thanks to her generous benefactor, who also happens to be her boyfriend. The benefactor is a politician who has used the actress’ popularity for votes. Right now, he seems to be very much in love with the actress. The actress, meanwhile, seems to be playing her cards right by frequently making deposits to her bank accounts and investing her money properly.
Julia Roberts’ ‘After the Hunt’ stirs #MeToo debate at Venice Film Festival
By Lindsey Bahr The Associated Press
ENICE, Italy—Julia Roberts and filmmaker
VLuca Guadagnino faced pointed questions about complicity and undermining the feminist movement at a news conference for After the Hunt on Friday at the Venice Film Festival.
The film, set in the world of higher education where Roberts plays a beloved philosophy professor, revolves around an accusation of misconduct. Her mentee, played by Ayo Edebiri, accuses her friend and colleague, played by Andrew Garfield, of crossing the line. Nora Garrett’s screenplay does not offer easy or simple resolutions.
One reporter asked Roberts if she thought the film undermines the feminist movement and progress of the #MeToo movement. “I don’t necessarily think it revives an old argument of women being pitted against one another,” Roberts said.
After the Hunt screened on Thursday night for press and industry before it premiered on Friday evening and quickly sparked debate around the festival, though most everyone seemed to agree about Roberts’ outstanding performance. It received a six minute ovation after its premiere.
For Roberts, who joked that she loved “the softball questions early in the morning,” the point is the conversations the film provokes. The tagline on the poster even reads “not everything is supposed to make you feel comfortable.”
“That’s how we wanted it to feel,” Roberts said. “Everyone comes out with all these different feelings and emotions and points of views. And you realize what you believe in strongly and what your convictions are because we stir it all up for you. So, you’re welcome.”
Guadagnino jumped in as well, saying, “It’s how we see the clash of truths. It’s not about making a manifesto to revive old-fashioned values.”
Roberts added that they’re not making statements with After the Hunt. Rather, she likes to think of it like a camera dropped out of the sky to capture these characters in this thorny moment where everyone seems to be lying to themselves and to others.
“We’re kind of losing the art of conversation in humanity right now,” Roberts said. “If making this movie does anything, getting everyone to talk to each other is the most exciting thing we could accomplish.”
The film, which Amazon MGM Studios will release in North American theaters on October 10, also uses a familiar-looking font for its opening credits: The Windsor-style typeface made famous by Woody Allen in some of his most famous films, from Annie Hall to Crimes and Misdemeanors. When asked why he chose this, Guadagnino said the crass answer is, “Why
GUILLERMO DEL TORO’S ‘FRANKENSTEIN’ PREMIERES AT VENICE WITH OSCAR ISAAC AND JACOB ELORDI
VENICE, Italy—Oscar Isaac and Jacob Elordi arrived at the Venice Film Festival Saturday for the world premiere of Guillermo del Toro’s Frankenstein the kickoff to what’s expected to be the film’s major awards season push. The audience gave it a 13-minute standing ovation, one of the most enthusastic of the 82nd edition of the festival.
Isaac plays Victor Frankenstein and Elordi is the monster in this adaptation of Mary Shelley’s classic novel, which del Toro has been dreaming about making for decades.
“It’s the movie that I’ve been in training for 30 years to do,” del Toro told The Associated Press. Speaking in Venice, del Toro said he feels like he’s in “postpartum depression” now that he’s completed the film,
a gothic feast of sets.
Isaac said before they started making Frankenstein, del Toro told him, “I’m creating this banquet for you, you just have to show up and eat.”
“This film feels particularly personal,” Isaac added. ”I think ultimately it is about outsiders.”
Elordi joined the production fairly late in the process, and threw himself into the childlike monster, who he didn’t find so hard to relate to.
“It’s a vessel that I could put every part of myself into,” Elordi said. “In so many ways the creature that is onscreen in that movie is the purest form of myself, he’s more me than I am.”
Outside the red carpet, several hundred anti-war protested gathered peacefully, hoping to turn the spotlight to the war in Gaza.
The last time del Toro was at Venice was with The Shape of Water in 2017, which won the festival’s top prize that year before going on to pick up the best picture and best director Oscar in 2018.
Netflix does not yet have a best picture winner in their arsenal, but is betting big on Frankenstein. Del Toro’s last film, Guillermo del Toro’s Pinocchio, won the streamer its first best animated film Oscar.
Netflix plans to release Frankenstein in theaters on October 17, before it comes to streaming November 7. AP
not?” Guadagnino did elaborate on this choice, saying that when he and his collaborators were putting After the Hunt together, they couldn’t stop thinking about how linked it felt to the “great oeuvre of Woody Allen” between the years of 1985 and 1991.
“I felt it was an interesting nod to thinking of an artist who has been in a way facing some sort of problems about his being and what is our responsibility of working with an artist we love,” he said.
The film is not playing in the main competition at the festival, so it won’t be up for any awards on September 6, but it’s a return to a familiar site for Guadagnino. Last year he brought Queer, with Daniel Craig, and several years ago had Bones & All with Timothée Chalamet. His tennis love triangle film Challengers, with Zendaya, was supposed to open Venice in 2023 but the Hollywood strikes upended much of that year’s festival and it was pulled.
Roberts is not a Venice newcomer either, having worked in the city in the past, but this does mark her first time at the festival.
“It’s so magical,” Roberts said of the city, though this trip, she said, “I have not done anything outside of work.”
Three days in, the 82nd edition of the Venice Film Festival is in full swing with many major premieres to come including Guillermo del Toro’s Frankenstein, Benny Safdie’s The Smashing Machine and Kathryn Bigelow’s A House of Dynamite.
Award-winning journalist Pia Arcangel renews ties with GMA
AS a reaffirmation of trust, excellence, and shared commitment to GMA Integrated News’ “mas malaking misyon at mas malawak na paglilingkod sa bayan,” multi-platform veteran broadcast journalist Pia Arcangel renewed her contract on August 29. Present during the contract-signing were GMA Network president and CEO Gilberto R. Duavit Jr.; senior vice president and head of GMA Integrated News, Regional TV, and Synergy Oliver Victor B. Amoroso, and vice president and deputy head for news programs and specials Michelle Seva.
A proud GMA personality since 2002, Pia has been at the forefront of delivering news and public service. With a career spanning more than 20 years in the media industry—from producing documentaries to covering politics, crime, breaking news, and sports stories, and anchoring news programs—Pia is among the most esteemed broadcast journalists of her generation. She currently anchors GMA Integrated News’ late-night newscast Saksi. Together with Ivan Mayrina, Pia also anchors top-
rating weekend news program Weekend news coverage specials. She currently hosts
Digital Strategy and Innovation Lab (DigiLab) where she provides listeners with exclusive and relevant insights from the country’s most influential figures. Through the years, she has been the recipient of various local and international broadcast journalism awards, including the Best Female Anchor from Gawad Tanglaw and the Best Female
for International Broadcasting Awards (AIBs), joining the ranks of prominent journalists from international outlets, such as ABC, CNA (Mediacorp), and Al Jazeera English. She was also nominated in the same category in 2023 for her GMA Integrated News podcast.
As she celebrates more than two decades in GMA, Pia has nothing but
kind words for the network. “To my GMA bosses, peers, and our dearest Kapuso— my sincerest gratitude for the trust and confidence you have extended my way all these years. Ang mapabilang sa GMA Integrated News ay isang napakalaking karangalan at makakaasa po kayo sa aking patuloy na paglilingkod at paghahatid ng balitang makatotohanan at maaasahan,” she said. The network, in turn, is happy that Pia remains with GMA. In his video message, GMA Network chairman Atty. Felipe L. Gozon underscored Pia’s value to the network. “Pia Arcangel is one of GMA Integrated News’ most valued personalities. Gabi-gabi, tinututukan ng manunuod ang kanyang late-night newscast na Saksi. Tuwing Sabado at Linggo naman, hinahatid niya ang mga balita sa 24 Oras Weekend. Bukod sa telebisyon, pinagkakatiwalaan din siya sa larangan ng podcast. Congratulations, Pia, and thank you for your continued dedication and excellence,” Gozon said. Duavit likewise, underscored Pia’s range as a broadcast journalist and
expressed his gratitude to the GMA Integrated News anchor. Ano man ang audience, basta mayroong may pangangailangan, may bumabagay. Siya [Pia] bagay sa lahat. When there is a special event or special coverage—maging eleksyon ‘yan o maging sa Buckingham Palace si Pia. Maging audience ngayon sa digital o audience sa telebisyon— si Pia. We are very grateful na minabuti mong manatiling Kapuso. And we are very happy that you continue and will continue for more years to come,” Duavit said.
Also present at the contract-signing event were corporate communications assistant vice president Jojo Aquio, assistant vice president for GMA Integrated News, Regional TV and Synergy administration Maria Teresa Bernabe, assistant vice president for Integrated News systems and support Mimi Yapchiongco, GMAIN senior program manager and news cluster head for 24 Oras Weekend and Saksi Kate dela Cruz-Robledo, and Saksi program manager Don Dave Ventura.
FROM left: GMA Integrated News
HOTEL101 to open 2 hotels in Cambodia
On August 20, 2025, Hotel101 Global Pte. Ltd. (“Hotel101 Global”), the Singapore- headquartered subsidiary of Hotel101 Global Holdings Corp. (ticker NASDAQ:HBNB), a leading asset-light, proptech hospitality platform listed on the Nasdaq Stock Exchange and a subsidiary of Philippine-listed DoubleDragon Corporation (ticker PSE:DD), entered into definitive agreements with Canopy Sands Development Co., Ltd. (“Canopy Sands Development”), one of Cambodia’s leading real estate developers, to develop two Hotel101 projects in Cambodia, which are expected to be among the largest hotels in the country by number of rooms upon completion.
Canopy Sands Group, being one of the largest local developers in Cambodia, has enabled Hotel101 to build on to their prime land in Cambodia. In addition, the arrangement with Canopy Sands Development will also enable Hotel101 to navigate well the local landscape and utilize their existing local sales network in Cambodia.
These landmark developments, the first to be located in Phnom Penh, the capital and commercial hub of Cambodia, and the second to be located at Bay of Lights in Sihanoukville, a burgeoning financial and tourism beacon, mark a pivotal step in Hotel101 Global’s longterm vision to operate one million hotel rooms across 100 countries.
Hotel101–Phnom Penh is set to rise
on a 2,033-square-meter prime commercial land which is located in the Tonlé Bassac district of Phnom Penh, a vibrant riverfront economic and cultural hub. With a capacity of approximately 700 rooms, this hotel is expected to be one of Cambodia’s largest hotels by number of rooms. Nearby is the popular upscale district of Boeung Keng Kang (BKK), a premier expatriate and business enclave.
Hotel101–Phnom Penh is expected to feature Hotel101’s standardized 21-squaremeter “HappyRoom” units, equipped with kitchenettes, alongside a range of Hotel101’s signature amenities such as a swimming pool, fitness gym, all-day dining, a business center, function rooms, and commercial spaces.
Cambodia reported to have received 6.7 million international visitors in 2024, and is expected to further grow with the upcoming Techo International Airport (KTI) slated to open on September 9, 2025.
The project is expected to enhance the current hospitality offering that are already operating in Phnom Penh, Cambodia which include global brands such as Hyatt, Rosewood, Shangri-La and Raffles.
Hotel101–Sihanoukville is set to rise on a 4,623-square-meter prime
commercial land within the Bay of Lights, a groundbreaking US$16 billion, 934-hectare master- planned coastal development led by Canopy Sands Development in Sihanoukville, a key growing tourism hub with stunning beaches.
Hotel101–Sihanoukville,with approximately 680 rooms, is expected to be the largest hotel in Sihanoukville in terms of number of rooms and is expected to feature the same standardized Hotel101 “HappyRoom” units and amenities as other Hotel101 properties globally.
Hotel101–Sihanoukville is strategically positioned right beside the proposed international convention and exhibition center in the Bay of Lights development.
These two Hotel101 projects in Cambodia are expected to generate US$109.55 Million (P6.3 Billion) in sales revenue once fully sold, form part of Hotel101 Global’s global expansion strategy.
The two Cambodian projects are targeted to be completed by 2028 and are expected to contribute to Cambodia’s economic growth through job creation, foreign investment, and increased tourism, while attracting both local and international buyers under Hotel101’s hassle- free hotel unit ownership model.
Mang Inasal brings flavor, fun, Community to Spartan Race PHL
MANG Inasal, the Philippines’ Grill Expert, is redefining what it means to be a partner in sports. Across Bataan, Tarlac, Imus, and Laguna, the brand has fueled nearly 20,000 Spartan racers with its signature Chicken Inasal, Pork BBQ, and Extra Creamy Halo-Halo, while turning post-race zones into lively hubs of fun, connection, and celebration.
Racers of all ages embraced Mang Inasal’s interactive activations, from games and giveaways to special awards, creating memorable experiences that extend beyond the racecourse. For several international racers, trying Mang Inasal for the first time offered a
warm welcome to Filipino flavors.
“This partnership is about more than just food or races. It’s about connecting with people, celebrating their effort, and sharing in their moments of triumph,” said Mang Inasal president Mike V. Castro. “We love seeing racers smile as they enjoy our food after a tough race. It’s in those moments, sharing a meal, celebrating a personal victory, or just having fun with friends and family, that we feel truly connected to them. Mang Inasal is about more than food; it’s about being part of these special moments and making every finish line a memory worth savoring.”
Meanwhile, Marc Celis, General Manager of Spartan Race Philippines, added, “Mang Inasal brings heart and energy to every race. Their presence uplifts athletes, families, and communities, creating experiences that stay with you long after the race ends.”
As Spartan Race Philippines continues through 2025, Mang Inasal proves that supporting athletes goes beyond nutrition. It’s about celebrating effort, fostering community, and turning every finish line into a meaningful experience. With each activation, Mang Inasal shows that the real victory lies not just in crossing the finish line, but in creating moments of joy, connection, and shared triumph that last well beyond the race.
Want more Mang Inasal exclusives NOW? Visit www.manginasal. ph for the latest news, https://manginasaldelivery.com.ph for delivery deals, and follow Mang Inasal on social media for more Ihaw-Sarap and Unli-Saya updates!
Radenta Academy Gets TESD A Accreditation
Refficiency, productivity, and flexibility in manufacturing and supply chain operations. The TESDA approved 80-hour program should enable students to achieve the following core competencies upon completion:
• Understand the fundamentals of Robotics and Virtual Reality.
• Set-up and configure Robotic Kits and VR systems.
• Explore the application
SMHCC Tela Tales Initiative Goes Nationwide with a Davao Launch
FOLLOWING the thread of its Luzon and Visayas legs, SM Hotels and Conventions Corporation’s Tela Tales continues to weave sustainability in its properties one region at a time. Coinciding with the Kadayawan Festival, Tela Tales was officially launched in Davao City, in partnership with its hotel property, Park Inn by Radisson Davao.
Commemorating the occasion were SMHCC Vice President for Quality and Sustainability Leah Magallanes, Davao City Councilors Tek Ocampo and Myrna Ortiz; Department of Trade and Industry Regional Director Romeo L. Castañaga; and Department of Tourism Region XI Assistant Regional Director Judy Colaljo.
“As a fashionably meaningful and purposeful sustainability project, Tela Tales transforms condemned hotel linens into meaningful fashion, functional pieces, creating a circular economy that bridges hospitality and local communities,” said Magallanes. Given that hotel linens are one of the top wastes produced by hotels and resorts, this initiative aims to create products that are highly marketable that resonate with target audiences.
Tela Tales has already made waves in other SMHCC properties such as Park Inn by Radisson Iloilo, Bacolod, and North Edsa; Pico Sands Hotel; Taal Vista Hotel; and SMX Manila. Now, it finds a home in Davao. To bring this vision to life, SMHCC and the hotel partnered with Davao-born designer Dars Juson, who studied in the De La Salle-College of Saint Benilde. He is making his name in the capital City of the Philippines as the co-founder of Manila-based label REPAMANA. Known for transforming discarded textiles into striking fashion, Dars’ philosophy perfectly aligns with the Tela Tales mission.
The beneficiary of this effort is Think Outside the Trash, a women-led community group supported by Ocampo. Under Dars’ mentorship, the women underwent training to create the debut Tela Tales collection—each piece a symbol of
empowerment, sustainability, and craftsmanship. For the first collection, Dars designed a vanity kit, tote bag, and bucket hats, which will be available for purchase at the hotel lobby. The items feature both plain and dyed designs, using the traditional Japanese shibori technique. This method involves binding, folding, twisting, and clamping fabric before dyeing—a process that Dars also taught to the women of Think Outside the Trash.
During the launch, Magallanes gave a
presentation on the concept behind Tela Tales,
with other
initiatives implemented by SMHCC as part of its goal to
Net Zero by 2040. A panel discussion featuring Magallanes, Dars, Ocampo, and General Manager Sven Toune followed, fostering an open and engaging conversation.
Manila Lights Up in a K-Pop Dance Frenzy
LG Electronics turned up the volume on innovation as it unleashed its latest breakthrough in sound with the LG xboom AI: Pop Goes Boom Launch during a high-energy celebration at Xylo at the Palace. The venue pulsed with K-pop-powered energy, transforming into an immersive dance floor where electrifying performances by Zephanie and NEW:ID brought the crowd, and the speakers to life. Guests also experienced firsthand the features of the LG xboom AI Speakers through interactive product demonstrations that showcased the lineup’s sleek design and intelligent features.
“Welcome to Pop Goes Boom!, the ultimate party night as we launch the latest LG xboom collection!” declared Yongwoo Park, LG Philippines’ Product Director for Media Solutions, as he kicked off the party. He warmly welcomed guests and performers, igniting the energy for an evening filled with powerful beats and immersive sound. Park emphasized LG’s bold approach to audio innovation: “Tonight, the bass doesn’t just play; it pops. And here at Xylo, everything pop will go boom. Let the sound take over. Performances are just getting started. Let’s go big, let’s go loud, let’s go xboom!”
Bringing sound to the centerstage, Mildred Bugay, LG Philippines Product Manager for Audio, walked everyone through the features that make the new xboom lineup the ultimate companion for those who live for music and love to move. “We are thrilled to introduce a 2025 lineup meticulously tuned by LG xboom’s Experiential Architect, will.i.am, to deliver richer, warmer tones and an unparalleled immersive listening experience. His innovative blend of cutting-edge technology and vibrant pop culture elevates the entire audio journey.”
The new LG xboom AI lineup, Stage 301, Bounce, Grab, and Buds, brings bold sound and smart style to every kind of listener. The LG xboom Stage 301 delivers room-filling audio with its 6.5” woofer and dual 2.5” midrange drivers, plus mic controls for easy karaoke fun. The LG xboom Bounce may be compact, but it delivers a bold sound with dual passive radiators and twin dome tweeters that bring every beat to life. Built for on-the-go playlists, the LG xboom Grab features a 16mm tweeter for crisp sound and a tube-shaped design that’s easy to carry or hang. For those who prefer solo listening, the LG xboom Buds offer detailed, high-clarity audio with graphene-coated drivers, advanced noise cancellation, and three microphones to keep calls clear wherever you are. Candy Gamos lit up the night with unstoppable energy and infectious excitement, keeping the celebration in full swing and the crowd fully charged. All eyes turned to the stage as Philippine KPOP Convention Inc., introduced the night’s featured performers, each bringing their own flair to
the KPOP Dance Challenge stage. DazZ Official had the crowd hyped and moving along with their charisma and explosive energy. Excrementum delivered a performance that highlighted their fluid dance style and bold vision of a genderless concept in the dance community. Kairos, a united force formed by Na’Be and Meraki, showcased their shared passion through clean, synchronized choreography that proved just how in sync they are.
Principtium, known for their sharp moves and selfproduced K-pop covers, kicked things off with precision and power. Finally, Psycho stormed the stage with wild energy and an all-out performance that got the crowd roaring. The high-energy KPOP Dance Challenge was evaluated by a dynamic trio: Bugay; AG Constantino, Marketing Communications Manager; and Wilson, member of the country’s rising pop male group, NEW:ID. After an electrifying night filled with jaw-dropping choreography, powerful stage presence, and non-stop crowdcheering moments, the panel hailed Principtium as the Champion for their standout performance that stole the show. Kairos wowed the judges with their energy and precision to claim 2nd place, while Psycho brought passion to secure 3rd place. To celebrate the creativity, talent, and heart of all the performers, the remaining teams were also awarded an LG xboom Bounce as a special consolation prize.
Life isn’t just about having the latest technology—it’s about the meaningful experiences it creates and the impact it brings to our everyday lives. Discover more at https://www. lg.com/ph/audio/xboom and stay connected by following LG Philippines (@lgphilippines) on https://www.linkedin.com/ company/lg-electronics-philippines-inc/, www.facebook. com/LGPhilippines/, www.instagram.com/lgphilippines/ and www.tiktok.com/@lgphilippines.
• Implement loop, conditional, and automation in programming.
• Develop more complex robotics applications with decision-making capabilities.
• Debug and optimize code for improved robotic performance.
• Apply acquired skills in a final robotics and VR integration project.
• Design problem solving activities integrating coding, robotics, and VR.
• Utilize robotics for physical math and engineering simulation.
• Understand gamification principle and their impact on learning.
• Design and implement interactive game-based learning activities.
• Develop immersive VR experience for enhanced trainee engagement.
• Present and demonstrate a working robotics education solution.
TESDA Regional Director Archie Grande said that the government appreciates
and
Academic Head Marck Anthony Cipriano presenting to TESDA representatives at Radenta Academy in Biñan, Laguna.
Models featuring the bucket hat, models are wearing designs from REPAMANA.
Editor: Tet Andolong
KMC sees rosy outlook on flexible workspace segment
By Rizal Raoul S. Reyes @brownindio
THE flexible workspace segment has created a huge impact in the office market resulting in many companies and startups going to the workspace arena for various reasons such as affordable rates, lower operating expenses, among others.
“They really saw the flex industry as a real disruptor to traditional office space. And so instead of fighting it, they fully embraced it, which is, you know, quite progressive for a developer here in the country,” Michael McCullough, cofounder of KMC Solutions, told the BusinessMirror in an interview during the recent launching of the FLX PBCom Tower in Makati City.
FLX PBCom Tower, a partnership between KMC Solutions and Filinvest Land Inc.(FLI), located on the 33rd floor of the prestigious building along Ayala Avenue, state-of-the-art premium workspace represents the dynamic growth of a collaboration that is redefining flexible office spaces across the Philippines.
He said the shared spaces market really has its own trend line and its own kind of demand profile. Although flexible work spaces compete with traditional office space, particularly those that are fully fitted, McCullough
said flexible work space offers the socalled hospitalization office space. “It is like you’re really providing a bit more service than a real office,” he said.
“You’re really removing the pain points, and unfortunately, there's still a lot of pain points in having your own office space. If somebody comes here and signs up here, not only do they get access to this location all along, but across the KMC portfolio, you're really offering a lot more value,” he added.
McCullough said flexible workspaces such as KMC Solutions will help new business locators in the Philippines to get the proper requirements and papers to enable them to start their operations immediately.
“That’s what we’re trying to provide because they know for a fact it's not easy landing a business in the Philippines,” he said.
He said KMC’s growth road map depends on where the client wants them to go. At present, KMC has “empowered” 25,000 seats already.
McCullough said KMC would be concentrating on the location that their clients would want to grow.
“Right now, the main driver of their growth is looking at the talent pool,” he said.
Driving partnership growth through a prime location
THE expansion builds on the partnership’s initial success at Filinvest’s Alabang development. “We began with just one floor at Axis Tower 1 in Alabang, and it leased up quickly. That success opened the door for the exciting opportunity to expand into PBCom Tower, where we're now able to offer even more flexible workspace solutions,” McCullough explained.
“It reflected the high demand for top-notch flexible workspaces. This expansion, part of our shared vision
Central Luzon and its central role in stoking PHL industrial competitiveness
THE Philippine government has been very active in promoting the Philippines as a crucial industrial market in Southeast Asia. Raising the sector’s competitiveness is important if the Philippines wants to attract more foreign direct investments, attract foreign manufacturing locators, and generate more jobs and livelihood in the countryside. The property sector is one economic segment likely to capture demand from new and expanding industrial locators and this only proves that a competitive industrial sector has the potential to bring in substantial benefits for the Philippines and its key economic segments including property.
One region that the Department of Trade and Industry (DTI) has been heavily promoting as a manufacturing hub is Central Luzon. According to DTI the region could take advantage of a pro-investment business environment, fostered by improving infrastructure connectivity and enactment of reform measures that bode well for the country’s manufacturing sector.
Central Luzon’s competitive advantage
COLLIERS Philippines believes that Central Luzon remains a viable alternative location outside of CALABA given its skilled manpower and relatively cheaper wages. Developers and locators should keep an eye on the completion of industrial parks and facilities in the region.
Central Luzon continues to attract high-value manufacturing investments, which worke well for the region’s indus -
trial revitalization. Aside from the CaviteLaguna-Batangas (CALABA) corridor in Southern Luzon, property firms are also expanding their industrial footprint in Central Luzon because of improving infrastructure, presence of highly-skilled workforce, and proximity to Metro Manila and the potential of capturing demand from one of the most affluent and fastest growing regions in the Philippines. At present, manufacturers of electric vehicle batteries, semiconductors, fiber cement, tires, and pharmaceutical products continue to locate and expand operations in New Clark City, Clark Freeport, and other industrial parks in Central Luzon. These operations are supported by the development of railways, airport expansion, and the corridor’s proximity to Manila air and sea ports.
More high-value manufacturers open shop and expand DATA from the Philippine Statistics Authority (PSA) showed that Central Luzon attracted P14.9 billion (USD266 million) worth of approved foreign investments in Q1 2025, representing more than 50 percent of the total P27.9 billion (USD498 million) pledges during the period. Colliers sees Central Luzon emerging as a key industrial hub outside the CALABA (Cavite-Laguna-Batangas) corridor, driven by investments from high-value manufacturers. Among the profiles of locators which recently occupied industrial space in the region include electric vehicle (EV) batteries, electronics, and agro-industrial, and those involved in tire and fiber cement product manufacturing.
PLG Prime Global Co., one of the world’s leading manufacturers of luggage and travel goods, is planning to resume its operations in Hermosa Ecozone Industrial Park in Bataan. The company previously operated in Hermosa from 2018 to 2022 before transferring its luggage manufacturing facility to China. Hollywood company Birns & Sawyer Inc. will invest up to USD17 million (P972 million) for the construction of a state-of-the-art soundstage facility in New Clark City. Australian battery manufacturer StB GigaFactory is also planning to expand by two more sites after opening up their first facility in Filinvest Innovation Park.
Steel and fiber manufacturers Promet Asia and SHERA are set to open new facilities at the TECO Industrial Park in Mabalacat, Pampanga. GFRP Philippines, which manufactures glass fiber reinforced polymer, has also opened a new factory building in Sterling Industrial Park 3 in Bulacan.
Other industrial parks in Central Luzon which continue to attract locators include Aboitiz InfraCapital’s TARI Estate which recently turned over a 42-hectare lot to its anchor tenant. Meanwhile, Victoria Industrial Park expects up to 20 locators and plans to expand by up to 100 hectares over the next three years. Singaporean firms have shown interest in Filinvest Innovation Park in New Clark City in Capas, Tarlac.
Sizable new industrial supply in Central Luzon FROM 2025 to 2028, Colliers sees the delivery of 870 hectares of new industrial supply in Central Luzon, almost twice the 470 hectares of expected new supply in CALABA during the same period. Developers should proactively seize opportunities in a constantly evolving Philippine industrial market. Industrial park and modern warehouse developers in Central Luzon should be mindful of the requirements of new and expanding locators in the region. With an improving business environment and bullish prospects for the region, we see more high-value manufacturers locating in the central Luzon region beyond 2025.
to create smart, sustainable spaces that empower entrepreneurs and businesses with the tools they need to succeed, was made possible through our partnership with KMC, the largest premium coworking space provider in the Philippines,” President of Filinvest Offices, Maricel Brion-Lirio, added, McCullough said the offer to renovate the site used by an online gaming company came from the Philippine Bank of Communications (PBCom). Initially, he said KMC was reluctant to renovate the site because the recovery of the Makati commercial business district did not show positive indications.
FLX PBCom strategically occupies over 1,500 square meters on the 33rd floor of PBCom Tower, housing more than 300 workstations and offering tenants unparalleled 360-degree views
of the Makati skyline through floor-toceiling windows. The space integrates biophilic design elements with modern color palettes, creating environments scientifically proven to enhance mental well-being and reduce.
The partnership’s expansion was celebrated with an exclusive “Opening Night Socials,” attended by KMC leadership, including VP of Workplace Solutions KC Tamayo-Gamboa, VP of Marketing Gian Reyes, COO Tracy Ignacio, CEO Parikshat Nagpal, and co-founders Michael McCullough and Atty. Amanda Carpo, as well as Filinvest’s leadership, including VP of Business Development Michael Mamalateo, Chief Legal Counsel Maria Victoria M. Reyes-Beltran and President of FLI’s Offices Maricel Brion-Lirio. The event culminated in a ceremonial ribbon-cutting, with
Makati
ticipating, marking the development's significant contribution to the city’s dynamic business landscape.
Premium Amenities and business advantages
FLX PBCom Tower is PEZA-accredited, offering significant tax incentives for qualifying businesses. This positions the workspace as a compelling choice for both local and international companies expanding operations in the Philippines while benefiting from government incentives that support growth and sustainability. The facility boasts of amenities designed to enhance productivity and well-being, including ergonomic furniture, soundproof phone booths, and dedicated wellness zones with a massage corner.
Damosa Land champions inclusive growth through education and development projects in Davao
DAMOSA Land, a premier real estate and agro-industrial developer in Mindanao, continues to reinforce its role as a community builder by investing in education-focused initiatives that uplift young Filipinos and support inclusive regional growth.
These efforts complement Damosa Land’s continued expansion across the Davao Region, supporting its goal of building communities that offer not only homes and workspaces but also access to education, wellness, and opportunity. From championing youth sports and higher learning to creating safer school environments, the company aims to shape not just spaces, but lives.
This vision is best captured by Ricardo “Cary” Lagdameo, President of Damosa Land, who said: “At Damosa Land, we believe that meaningful progress goes beyond real estate. It’s about creating conditions where communities, and especially the next generation, can thrive. This is part of our holistic approach to township building where we don’t just develop properties, but create environments that nurture learning, growth, and opportunity. Projects like these reflect our deeper commitment to shaping communities in a way that uplifts lives and supports long-term, inclusive progress.”
Empowering youth through education and sports
NOW in its second year of active participation, Damosa Land has once again partnered with Adamson University and the Don Antonio O. Floirendo, Sr. Foundation, Inc. (AOF Foundation) to support the Adamson University Men’s Football Scholarship Program. This year, nearly 200 senior high school students from across Mindanao participated in the regional tryouts, resulting in seven new scholars who will enter Adamson University as full scholars this school year.
Last year, the program produced four pioneering scholars who are now in their second year of college.
The initiative reflects the shared commitment of all partners to empower the youth through education and
sports development, an opportunity that not only hones athletic talent but also opens doors to a university education for promising student-athletes in the region. By investing in programs like these, Damosa Land continues to champion sports as a meaningful driver of inclusion, education, and long-term personal growth.
Advancing agriculture and environmental education FURTHER strengthening its investment in education, Damosa Land also plays a key role in the development of the University of the Philippines Professional School for Agriculture and the Environment (UP PSAE) inside Agriya in Panabo City. Once completed, UP PSAE will offer graduate and postgraduate programs in agriculture and environmental studies, helping elevate the region’s capabilities in these critical sectors.
Damosa Land supports this initiative by donating the land where the campus will rise and funding the construction of its first building— demonstrating its deep belief that agriculture and sustainability are not only integral to Mindanao’s growth, but essential to securing its future. These education-focused efforts also complement the vision behind Damosa Land’s townships, such as Agriya and Bridgeport, where innovation, sustainability, and quality of life come together to build vibrant, future-ready communities.
Creating safer learning environments
AMONG its latest community initiatives is the construction of a perimeter fence for the Luis P. Rodriguez Integrated School in Barangay Caliclic, Island Garden City of Samal. Undertaken in line with the Department of Education’s Brigada Eskwela 2025, the project is expected to benefit 485 students by providing a more secure and conducive environment for learning.
In collaboration with the Department of Education, this initiative underscores the value of strong publicprivate partnerships in addressing infrastructure needs in local schools. By working closely with DepEd, Damosa Land reinforces the vital role that private sector support plays in enhancing the quality and safety of learning environments across the region. As Damosa Land marks over two decades of shaping vibrant communities and sustainable developments across the region, its mission remains anchored on the belief that true progress is community-led and future-focused.
“Davao is more than just a hub for growth, it’s home. And it’s our responsibility as a homegrown developer to help shape not just the skyline, but the future of the people who live here,” Lagdameo emphasized. Discover how Damosa Land contributes to Mindanao’s growth, visit https://damosaland.com/.
City Councilor King Yabut par -
IN partnership with Damosa Land, Inc., Adamson University held a try-out for aspiring football scholars in Senior High School from across Mindanao.
ONE of the workspace areas of FLX PBCom powered by KMC.
LOBBY of FLX PBCom
Bibat, Chan lead men’s contest; Seo ahead by 3
By Aldrin Quinto
BACOLOD City—Eager to make up for recent missed chances, Aidric Chan and Michael Bibat played steady under mercurial skies on Tuesday, carding 64s to share the first-round lead in the International Container Terminal Services Inc. Bacolod Golf Challenge.
homeward nine for a 66, joint fourth with amateur Bobe
Stakeholders embrace PSC’s active program
By Josef Ramos
IT’S a message well delivered and comprehensively acknowledged for the Philippine Sports Commission (PSC) during its first Sports Stakeholders Summit on Tuesday afternoon at the Solaire Sports and Casino in Parañaque City.
The summit, as summed by PSC chairman Patrick Gregorio, was to actively involve everyone in sports development— primarily the private sector.
“I assure it is all worth it,” Gregorio told the summit attended by officials and members of national sports association and certified sports patron from the private sector and graced by no less than the country’s first Olympic gold medalist Hidilyn Diaz Naranjo.
“They [athletes] need more budget,” said Gregorio, who’s been at the PSC helm only last July 1 but got the agency flooded with activities, partnerships and endeavors that targets a sustained publicprivate partnership to continue with Diaz Naranjo’s success at Tokyo 2020 and Carlos Yulo at last year’s Paris Olympics.
“I’m really overwhelmed and this is how it should be in developing Philippine sports—If we promise the sports people and the athletes that we will give them all the support properly and all the resources properly, this would snowball,” he added.
Among those in the summit were representatives from sports patron’s Manuel V. Pangilinan’s MVP Group of Companies, Converge, Ayala Sports Foundation and the International Container Terminal Services Inc., along with local government units officials and even the major collegiate leagues and the Bureau of Corrections.
Japan, Iran potential threats to favorites in FIVB worlds
Jible threats to break into the p odium in the FIVB Volleyball Men’s World Championship as Alas Pilipinas joins the chase for glory next month at the Smart Araneta Coliseum and SM Mall of Asia Arena. Ryujin Nippon, twice bronze medalist and world No. 5 the top Asian squad in the elite 32-team field, is tipped among the strongest picks to shake up the hierarchy in the elite world event slated September 12 to 28.
World No. 13 Iran, meanwhile, has been a perennial threat in the FIVB’s flagship series Volleyball Nations League and will be put to the test by emerging volleyball nation Philippines in the biggest men’s volleyball world championship ever after expansion from 24 teams.
A las Pilipinas and world No. 43 Tunisia open hostilities at the MOA Arena on September 12 following an explosive ceremony led by K-Pop group BOYNEXTDOOR.
The Philippines battles Egypt on Sept. 16 before rounding out Pool A play on September 18 against Iran. Tickets are available via the official website https://www. philippineswch2025.com/
World No. 6 USA banners the cast from the Americas, with Argentina and Cuba, the world No. 9 and 10, respectively, also among the teams looming as threats to the cream of the crop in the world championship organized by Philippine National Volleyball Federation president Ramon “Tats” Suzara, who also heads the
world championship’s Local Organizing Committee co-chaired by Presidential son William Vincent “Vinny” Araneta Marcos, Senator Alan Peter Cayetano and Tourism Secretary Christina Frasco.
World No. 1 Poland, with three world titles, looks to match the four owned by world No. 2 and defending champion Italy.
Brazil also has three world championship trophies and seeks to return to the top of the podium after third-place finishes in the 2022 FIVB Worlds and the 2025 VNL.
Slovenia, the World No. 7, hopes to end its run of near-podium finishes in the 2022 FIVB Worlds and the 2025 VNL.
A lso among the teams to watch is World No. 4 France, which has yet to win a world title but is riding the crest of Olympic gold earned on its home court last year.
Germany also appears as a sleeper threat in Europe’s 13-team lineup, having toppled Brazil and Italy in the qualifiers to the Paris Olympics, and will be among the teams to watch in the event backed by Rebisco, SM, PLDT, SMART, Metro Pacific Investment, Honda Philippines,
Line 2, officially sanctioned by the FIVB, partnered with Volleyball World, Mikasa, the official ball, Mizuno, Gerflor and Senoh Corporation.
Japan banners Pool G with 11thranked Canada, No. 16 Turkiye and 75thranked Libya at the Araneta Coliseum. Argentina tests the mettle of France in Pool C, which also has Finland and 26thranked South Korea also at the Big Dome. S lovenia and No. 8 Germany are in Pool E with 15th-ranked Bulgaria and No. 27 Chile.
Poland is in Pool B with world No. 19 Netherlands, 20th-ranked Qatar and No. 22 Romania at the Smart Araneta Coliseum. Italy heads Pool F with No. 14 Ukraine, 17th-ranked Belgium and No. 87 Algeria also at the Big Dome.
Brazil plays in Pool H at the MOA Arena against 12th-ranked Serbia, No. 21 Czechia and 25th-ranked China. Aldrin Quinto
JAN CADEE DAGOON delivered a pair of commanding victories to dominate the Mayor Arlene Arcillas National Juniors Tennis Championships, while Jan Caleb Villeno posted a win and a runner-up finish to share Most Valuable Player
of
the Smart Araneta Coliseum.
C han hit eagle on No. 15 to move up the leaderboard and flightmate Bibat caught up with birdie on No. 17 at the tight three-lined Bacolod Golf Club.
It was a huge back-nine surge for Bibat, out for redemption after a missed cut in the Caliraya Springs Championship in Laguna last month, as he birdied three of the last five holes.
“I was so fired up, I was looking to sink my chip shots,” said Bibat between bites of bread after the draining round.
Bibat, who last won in 2022 at Eagle Ridge, played calmly and went bogey-free on a day when the weather seemed to throw tantrums, posting nines of 33-31.
C han, on the other hand, had posted top-10 finishes in the first four events of the Philippine Golf Tour.
However, he is determined to get more meaningful results after consecutive missed cuts on the Asian series.
Today was all about putting myself in a good position, knowing the winning score last year,” said Chan, who did fine but still wound up missing the weekend play in the recent Jakarta stops of the Asian Development Tour and the Asian Tour.
L ast year’s winning total was 16-under, posted by Reymon Jaraula, and Chan’s 42-foot eagle putt on the par-five No. 15 did put him on track.
“The eagle honestly, I was just going for birdie, some putts just give you a chance for eagle so you don’t leave it short,” said Chan, running second on the ADT Order of Merit, who also had five birdies and a bogey.
A stroke back at 65 was Randy Garalde, who hit six birdies and a bogey. Collin Wheeler of the US seemed to be in control in the rain and under the sun, taking the early lead with four birdies in the first seven holes. But made two bogeys against two birdies on the
honors at the Santa Rosa Sports Complex over the weekend. Dagoon, a rising star from Olongapo City, lived up to her top billing by storming through the girls’ singles
I t made Arado exceedingly emotional and her being the first libero ever to win an MVP award is something to shout on rooftops.
“ We reached a point where we started looking forward to those pressure moments,” Arado said. “Looking back, like in that match against Akari, it wasn’t just about that controversial call…There was sadness, even anger. But at the same time, we also realized we made mistakes and missed out on opportunities that could have led us to victory.”
T he win over the teenage-laden Japanese team was a shining example of how PLDT could rise to the occasion after years of experience, transforming a first-set loss into a poise welded by tenacity and resilience.
by ICTSI. Sarah Ababa, among the pre-tournament favorites after a playoff loss to Princess Superal in the Caliraya Springs Championship, managed to get through the opener at even par 70 despite some trouble mid-round by finishing birdie-birdie. After back-to-back birdies from No. 4, Ababa suffered double-bogey on No. 7 and bogeys on the 13th and 14th.
a 71, which was matched by
for joint fifth place.
in
And when the High Speed Hitters survived Japan’s aggression in the second set to pull off a heart-rending 31-29 win on the strength of sheer courage, PLDT was on its way to a well-deserved, four-set triumph. We pushed through the pain and exhaustion,” Arado said. “Like Savi [Davison] said, there were times when we didn’t even want to show up because we were so tired. Plus, we were still carrying the weight of past heartbreaks. Our patience was really tested.” With a 13-game winning streak (seven in the On Tour) that manufactured two high-value titles, PLDT isn’t just on a roll but, more importantly, is
AIDRIC
AN CADEE DAGOON (center) poses with one of her three trophies with Vice Mayor Arnold Arcillas (left) and Romeo Adato, executive
GREGORIO
Tiffany Lee shot
Pamela Mariano
Florence Yvon Bisera was alone
seventh at 72. Pauline del Rosario carded a 73 and shared eighth spot with Lois Kaye Go and Mafy Singson. Order of Merit champion
Harmie Constantino, Kayla Nocum and Gretchen Villacencio shot 74s and were tied for 11th.
