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Despite Mideast war, remittances seen to grow By Andrea E. San Juan

VEN as the weaker peso is expected to propel cash remittance flows to Filipino households’ coffers, it should be in the “best interest” of the country to ensure the safety of overseas Filipino workers (OFWs) amid the renewed tensions in the Middle East, according to money transfer firm Western Union’s head for the Philippines. “As an economy, we rely a lot on our overseas Filipinos. So I think it’s in the best interest of the country to take care of these overseas Filipinos,” Western Union Country Director for the Philippines Ricardo Alair said Wednesday.

WESTERN UNION, JUANPAY JOIN HANDS Western Union and JuanPay announce

their partnership at the Western Union office in Quezon City on September 2, 2026, expanding access to Western Union international money transfer services through participating JuanPay locations nationwide. The partnership is aimed at bringing remittance services closer to Filipinos and making it more convenient for families to stay connected with loved ones abroad. From left: Western Union Country Director for the Philippines Don Alair; Regional Vice President for Japan, Philippines, Australia, New Zealand and the Pacific Islands Gregory Laurent; Senior Vice President for APAC Vince Tallent; JuanPay Chairman Rico Fernando Chico; President Atty. Rafael Padilla; and Director Arlene Chico. NONOY LACZA

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Alair said this after saying that inbound remittance flows through Western Union are seen to grow at a faster pace than industry rate despite the ongoing Middle East conflict. “With the peso weakening, it actually drives more Filipinos to send more money back [home],” Alair emphasized. While there are no bottlenecks seen at least in the remittances being coursed through Western Union, he stressed: “If repatriations happen, maybe you could say it might affect us.” Citing data from the Bangko Sentral ng Pilipinas (BSP) which noted that it is seeing 3 to 4 percent growth in inbound remittances, Alair

said: “Based on that number, we’re actually bucking that trend. We’re actually growing better than the industry.” “Western Union is very strong and I don’t see the migration patterns to be changing in the next couple of years,” added the country’s head for Western Union. Data from the Department of Migrant Workers (DMW) showed that since the start of the Middle East conflict last February 28, the government was able to bring home a total of 10,218 Filipinos from the region. The bulk or 8,390 of the repatriates were OFWs, while the remaining 1,828 were their dependents.

These remarks were made after the Western Union, a global financial services firm, launched on Wednesday a partnership with JuanPay, a Filipino digital payment platform, to bring international remittance services closer to Filipino communities. In a statement on Wednesday, both parties said the partnership combines Western Union’s global financial network spanning more than 200 countries and territories with JuanPay’s nationwide non-bank financial services footprint. “An initial rollout is planned across approximately 1,400 priority locations from See “Mideast war,” A2

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MVUC RATE HIKE, WIDER EXCISE TAX SCOPE EYED www.businessmirror.com.ph

Thursday, September 3, 2026 Vol. 21 No. 324

P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK

By Reine Juvierre S. Alberto

HE Department of Finance (DOF) wants to expand the scope of excise taxes on non-essential goods by covering private aircraft and sea vessels, while also imposing a new 75-percent tax rate on automobiles priced at more than P8 million.

During a stakeholders’ briefing on the proposed “Progress Bill” on Wednesday, Fiscal Policy and Planning Office Director Johanna P. Hortinela said the DOF is proposing to increase the non-essential goods tax to 25 percent from 20 percent. Private aircraft, including planes, jets and helicopters, as well as recreational vessels such as jet skis, speedboats, sailboats and motorboats, are also being eyed for inclusion among taxable non-essential goods. “The proposed changes aim to strengthen the equity and progressivity of the excise tax system and generate additional revenues from high-value discretionary consumption,” Hortinela said. The current system leaves an “equity gap” because luxury and other discretionary goods are not taxed at levels commensurate with their

value or the purchasing capacity of their buyers, Hortinela explained. In addition, the DOF wants to add a new tier in the existing excise tax rates on automobiles by imposing a 75-percent tax rate on vehicles with a net importer’s/manufacturer’s price of P8 million and above. Asked by former Internal Revenue Commissioner Kim Jacinto-Henares why the P8-million threshold was chosen, Hortinela said it was based on market data showing that highend vehicles in the Philippines are generally around that price level. Hortinela said the DOF is also open to raising the current tax rates on vehicles priced lower than P8 million after being further questioned by Henares about why these goods would only face lower tax rates instead of the “big” 75 percent. See “rate hike,” A2

‘REAL PRESSURE ON PESO GOES BEYOND NEW GLOBAL FACTORS’ By Andrea E. San Juan

HE true pressure on the Philippine peso comes from a combination of external and structural forces— reflecting decades of neglected industrial policy, over-reliance on imported fuel, and a failure to build a robust domestic manufacturing sector, according to an economist. Analysts have recently pinned the persistent weakening of the Philippine peso on global factors such as the growing expectations of a Federal Reserve rate hike and the higher oil prices amid the renewed tensions in the Middle East. This time, however, an economist traced back to decades worth of structural neglect in the country to explain why the local currency is vulnerable to foreign exchange volatility. Ateneo De Manila University (ADMU) economist Ser Percival K. Peña-Reyes explained to the BusinessMirror: “The true pressure on the peso comes from a combination of external and structural forces.” “We have decades of neglected industrial policy, an over-reliance on imported fuel, and a failure to build a robust domestic manufacturing sector,” Peña-Reyes told this newspaper. He said the peso is weak because the economy is “fundamentally uncompetitive

in producing physical goods.” Peña-Reyes made this comment after data from the Bankers Association of the Philippines (BAP) showed the peso continued to plummet as it closed at P62.565 against the dollar on Wednesday, 16.5 centavos weaker than its previous finish of P62.40 on Tuesday. Data also indicated this marks the fourth consecutive record low of the local currency since it started to weaken on August 27 when it closed at P61.888 against the greenback. With the local currency weakening further to P62.565 per dollar, two analysts unraveled short- and long-term blueprints to help businesses plan ahead and for the government to contain the second-round impact of a weaker peso.

FISH TAKES A BITE OUT OF BUDGETS Fish are displayed for sale at a wet market in Las Piñas City as prices of some species rise amid supply disruptions linked to the Southwest Monsoon (habagat) and recent typhoons. Disruptions to fishing and transport have tightened supplies in some markets, putting additional pressure on consumers. One vendor quipped that, with current prices, pork has become the more affordable option for budget-conscious shoppers. NONIE REYES

Haze also affects CL, Calabarzon, 2 regions By Jonathan L. Mayuga

Short-term solutions

JOHN PAOLO R. RIVERA, Senior Research Fellow at Philippine Institute for Development Studies (PIDS) said the government’s “priority should be to contain the secondround effects of a weaker peso and higher oil prices.” It should particularly keep an eye on the impact on food, transport, and other essential goods, while “maintaining credible See “Peso,” A2

IMPEACHMENT WATCH | DAY 21 Atty. Michael Wesley Poa takes his oath as a witness

before the Senate impeachment court during the 21st day of Vice President Sara Duterte’s impeachment trial in Pasay City on September 2, 2026. Poa, a former Department of Education undersecretary, chief of staff and spokesperson who is also part of Duterte’s defense team, was declared a hostile witness and questioned by House private prosecutor Atty. Benjamin Tolosa Jr. on the disbursement and use of confidential funds during Duterte’s tenure as Education secretary. ROY DOMINGO/SPPA POOL

SIDE from the National Capital Region (NCR), the haze attributed to the forest fire in Indonesia is also affecting Central Luzon, Calabarzon, Mimaropa, and parts of Central Visayas, the Department of Environment and Natural Resources- Environmental Management Bureau (DENR-EMB) reported. However, air quality in these areas outside Metro Manila has already shown marked improvement, the DENR-EMB reported. “Based on current monitoring and meteorological assessments, the haze is possibly associated with smoke and transboundary haze from ongoing fires in Kalimantan, Indonesia, which may have been transported toward the Philippines

by prevailing winds,” the EMB Environmental Quality Management Division said. Engr. Jundy del Socorro, EQMD Chief, DENR-EMB, explained this could be due to several factors. According to the Asean Specialized Meteorological Center (ASMC), as of 5 pm on September 1, the wind direction is shifting dispersion slightly toward the southwestern, western, and central parts of the Philippines. Consequently: 1) levels are currently high in Talisay, Cebu, and Cagayan de Oro; 2) air quality in NCR has improved slightly; 3) additionally, the weather became warmer this morning, which contributes to the vertical mixing of pollutants. The DENR-EMB said it is continuously monitoring air quality conditions through its nationwide network of air quality monitoring See “Haze,” A2

PESO EXCHANGE RATES n US 62.3590 n JAPAN 0.3894 n UK 84.3405 n HK 7.9535 n CHINA 9.2793 n SINGAPORE 49.0013 n AUSTRALIA 44.5555 n EU 72.3053 n KOREA 0.0453 n SAUDI ARABIA 16.6096 Source: BSP (September 2, 2026)

News

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A2 Thursday, September 3, 2026

Rate hike… Continued from A1

The DOF is also considering expanding the list of non-essential goods covered by the measure, as the agency previously thought of imposing taxes on luxury watches, designer bags and paintings but eventually narrowed the initial proposal to high-valued commodities, Hortinela added. “[These are] still part of what we are studying,” she said. “We will consider everyone’s opinion and comments on [proposals for non-essential goods].” The revenue impact of these measures is still being assessed by the DOF, Hortinela said. In 2025, the government collected P307 million from excise tax on non-essential goods, down by 28 percent from P426 million in 2024.

MVUC rates to double

THE DOF also proposed adjusting the motor vehicle users charge (MVUC), with existing rates set to increase by 109 percent as the rates have remained the same since 2004. Under the proposal, the MVUC for a light passenger car would increase to P3,344 from the current P1,600, while the charge for trucks would rise to P6,170 from P2,952. The proposed adjustment would cover all types of motor vehicles, including private, government and for-hire vehicles. “Remaining stagnant for over two decades, these rates have suffered severe inflation erosion, diminishing the real value of revenues,” Hortinela said, noting that the rising cost of road maintenance justifies the adjustment. The estimated average cost of preventive maintenance for national roads increased nearly sixfold from P4.5 million per kilometer in 2007 to P27.6 million per kilometer in 2022, she said. MVUC collections, in contrast, only more than doubled from P8.3 billion in 2007 to P18.6 billion in 2022. Adjustments in the MVUC are expected to generate an estimated P22.39 billion in incremental revenues annually from 2027 to 2030. These proposed tax changes form part of the DOF’s “Progress Bill,” a new comprehensive tax reform package, aimed at providing tax relief for the middle class and small businesses while expanding sin taxes. The measure is projected to raise P518.71 billion in revenues from various excise and wealth taxes from 2027 to 2030, offsetting P326.92 billion in losses from personal and corporate income tax relief.

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Govt Malampaya revenue to hit ₧6B in ’26, ₧23B in ’27

By Lenie Lectura

HE Department of Energy (DOE) expects to rake in P6 billion in revenue this year and a whopping P23 billion in 2027, mainly from the government’s share in the Malampaya Deep Water Gas-to-Power Project. Data presented to lawmakers on Wednesday showed this year’s projected revenue collection will reach P6.06 billion. Of this total, P4,221,532,000 will come from the gas project and the remaining P1,837,805,000 from other sources, the DOE said. The figures are higher than the agency’s programmed budget of P4,434,160,000 this year. “The DOE’s revenue collection for the national government has consistently exceeded its approved budget. Collections were driven mainly by the Malampaya gas fund. For 2026, the total projected revenue collection is P6.06 billion,” said DOE Undersecretary Giovanni Carlo Bacordo. For 2027, revenues are projected to reach P23 billion mainly because of

the P20,014,167,000 expected proceeds from the Malampaya Phase 4. Renewable Energy (RE) collections are also expected to continue increasing. “For fiscal year 2027, the DOE’s total proposed budget is P5.68 billion, reflecting an increase of P1.14 billion, or 25.74 percent, compared with the fiscal year 2026 GAA of P4.43 billion,” said Bacordo. The Malampaya Phase 4 project consists of the drilling, development, and subsea integration of the new wells offshore Palawan. The Malampaya East-1 and Camago-3 wells are expected to deliver first gas in the fourth quarter of 2026. The government receives a guaranteed 60-percent share of the net proceeds from the gas project while

the private contractors retain 40 percent. The 2027 proposed budget will mainly fund three major projects. These are the Philippine Great Geometry and Seismic Survey Project (PGGSSP), the Mobile Energy Systems (MES) under the total electrification program, and the ISSP (Information Systems Strategic Plan), which includes the DOE automation project. The PGGSSP is a DOE initiative meant to improve resource mapping and prospect identification, reduce exploration risk, and help attract greater upstream energy investments in the country by generating higher quality geophysical data across priority petroleum basins. It covers 120,000 square kilometers, supporting up to 120 individual exploration service contracts. “Using the data from 12 recent-

ly awarded exploration contracts, representing just 10 percent of the total potential blocks, 12 contracts could already account for approximately P16.8 billion of potential private sector investments, and that does not even include actual discoveries,” Bacordo said. The DOE proposed to purchase next year 60 MES units amounting to about P600 million. The rollout of the proposed ISSP, meanwhile, may cost P950 million. “The automation project will transform fragmented standalone systems into a unified, streamlined, automated, and AI-enabled enterprise platform. It will improve efficiency and transparency, strengthen accountability and regulatory compliance, and reduce opportunities for discretion, manipulation, and corruption,” said Bacordo.

Mideast war…

Jeremaiah Opiniano, Institute for Migration and Development Issues (IMDI) and professor at the University of Santo Tomas (UST), told the BusinessMirror two weeks ago: “The numbers seem to reveal that even if the Juneonly cash remittances are the highest June cash remittance on record, cash transfers from overseas Filipinos are slowing down.” Opiniano said this after latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances or the money sent home by Overseas Filipino Workers (OFWs) reached $3.04 billion in June 2026, the highest monthly cash remittance level recorded in the first half of 2026 and also the highest June-only cash remittance level on record. Data from the central bank, however, showed that the $3.04-billion cash remittances in June 2026 grew by 1.7 percent from the $2.987 billion in June 2025. This is the slowest growth rate in cash remittances since February 2022 or in four years and four months when the growth rate of the money sent home by OFWs was at 1.3 percent. In the January to June 2026 period, cash remittances amounted to $17.149 billion, up 2.4 percent compared to the $16.753 billion in the six-month period in 2025. The 2.4-percent cumulative growth rate, Opiniano said, “seems to show that the growth of cash remittances from overseas Filipinos may be reaching a plateau.” (See: https://businessmirror.com. ph/2026/08/19/money-sent-home-byofws-may-be-plateauing-expert/)

Continued from A1

JuanPay’s wider network or 2,000 owned and franchise-operated outlets, with the goal of progressively extending the service across the network,” they said in a statement. The partnership will also give customers a “convenient” new way to send and receive money across the world through participating JuanPay outlets, alongside the everyday financial services they already use there. “These include bills and loan payments, government transactions, pharmacy services and other consumer services,” the statement read. JuanPay is a subsidiary of ACM Group of Companies, has an “established” presence in provincial markets and communities with strong ties to OFWs, supported by a network of local Filipino entrepreneurs. For his part, Rico Fernando M. Chico, Chairman of ACM Group of Companies, said: “Our vision for JuanPay has always been to bring essential financial services closer to Filipino communities.” Chico said the digital payment platform’s collaboration with Western Union brings together “global connectivity” and JuanPay’s “community-based approach” to access. An earlier story by the BusinessMirror noted that the amount of money being poured by OFWs into household coffers of their families back home may be plateauing amid rising inflation at home and in their host countries.

Haze…

Continued from A1

stations to assess the extent of the haze and its potential effects on public health and the environment. In the NCR, the latest ambient air quality monitoring on September 2 revealed improvements using the PM2.5 Air Quality Index as a gauge. Nine cities: Mandaluyong, Manila, Marikina (Parang), Muntinlupa (Filinvest City), Navotas, Pasay, Pateros, San Juan, and Valenzuela, have AQIs of 100 and below. On the other hand, cities still have high AQIs of 100 or above 100, which fall under the “unhealthy for sensitive groups,” namely, Las Piñas, Makati, Malabon City, Paranaque (Don Bosco), Quezon City (Ateneo and Commonwealth Avenue, and Taguig (TUP). The marked improvement may be attributed to the monsoon rains

Village…

Continued from A13

coordinating with the DPWH in surveying alternative routes to the isolated community, citing the possibility of connecting Sta. Fe to the neighboring barangay of Omaya in San Narciso town. As of August 31, at least eight houses in

that filter the air in these areas. Nevertheless, the DENR-EMB issued a public advisory encouraging the public in areas with high levels of PM2.5 to minimize prolonged outdoor activities in areas where haze is visible. The DENR-EMB also said sensitive individuals, including children, older persons, and those with respiratory or cardiovascular conditions, should limit outdoor exposure and take necessary health precautions. For their own safety and protection, the public is advised to wear a well-fitting face mask, preferably an N95 mask or equivalent, when going outdoors in areas affected by haze. The DENR-EMB said it will continue to closely monitor the air quality situation and provide timely updates as more information becomes available. The public is urged to remain calm and rely only on official government sources for verified information regarding the haze situation. Sta. Fe were damaged beyond repair, while the barangay hall and multipurpose center and the Sta. Fe National High School remained flooded following the lahar onslaught, the Municipal Disaster Risk Reduction and Management Office (MDRRMO) reported. Eighteen families in the nearby village of Aglao have also preemptively evacuated on August 28 amid heavy rains and rising river water, the MDRRMO added. With Samuel P. Medenilla

Peso…

Continued from A1

monetary and fiscal policy,” he added. The Bangko Sentral ng Pilipinas (BSP), Rivera said, can continue “smoothing excessive volatility without necessarily defending a particular forex rate level.” For businesses, the Senior Research Fellow at the state think tank said: “Importers can strengthen forex risk management through appropriate hedging, better timing of dollar requirements and diversification of suppliers where feasible.” For exporters and other dollar earning firms, Rivera said they may benefit from a weaker peso in peso terms, “but they should also recognize that imported inputs, energy, and financing costs can offset part of that advantage.”

Long-term buffer

MEANWHILE, Peña-Reyes said the long-term buffer for the peso requires “structural policy shifts.” For one, he said the Philippines would need to beef up the export sector. “Governor Remolona himself admitted that the peso’s slide is difficult to stop without structural improvements in merchandise exports to offset the heavy import bill,” Peña-Reyes said. Another long-term solution he presented is to put in place “strategic industrial policies.” “Investing heavily in local manufacturing, food production, and agriculture reduces the structural need to import everyday commodities, which would naturally fix the trade deficit,” said Peña-Reyes. The government must also consider wage and tax reforms. “Giving workers higher disposable income through wage adjustments or localized tax relief can create an actual financial surplus that makes personal saving viable,” added Peña-Reyes. At a briefing at the Senate last week, BSP Governor Eli M. Remolona Jr. said the exchange rate itself is “something very hard to fix” for a country like the Philippines. Remolona explained to the Senate Committee on Finance that the country’s outbound shipments are “expensive” and “inadequate,” making it difficult to stop the local currency from further weakening. “Our trade deficit is about 13 percent of our GDP [gross domestic product],” Masyadong mahal ang exports natin; kulang na kulang ang exports natin,” the central bank governor said at the Development Budget Coordination Committee (DBCC). “So mahirap pigilin ang pagbaba ng peso. Pwedeng pigilan para mabagal pero hindi kayang i-fix; hindi pwedeng P60 lang, mauubusan tayo ng reserves, ng dollars,” added Remolona. Remolona, who sat in the DBCC briefing as resource person, shared his hopes for the peso. “But I still hope our exports will strengthen as it’s really lacking in volume. That’s our challenge here with the exchange rate.”

Trade deficit

THE country’s trade deficit widened further in July as imports continued to grow nearly twice as fast as exports, data from the Philippine Statistics Authority (PSA) showed. The PSA on Friday reported that the country’s trade deficit reached $5.97 billion in July, 34.9 percent higher than the $4.43 billion recorded a year earlier. It was also the largest deficit since May 2026, when the trade gap reached $6.10 billion. The wider trade gap came as import payments increased 19.8 percent year-on-year to $14.12 billion from $11.79 billion, while export receipts grew 10.8 percent to $8.15 billion from $7.36 billion. (See: https://businessmirror. com.ph/2026/08/29/july-trade-gap-widensfurther-to-5-97b-as-imports-grow-twice-asfast-as-exports/) See “Peso,” A13

Floods…

Continued from A13

Citing the Department of Transportation (DOTr), Palace Press Officer Claire Castro said the free toll will last until the traffic situation in the Nlex normalizes. “This is in accordance with the directive of President Ferdinand R. Marcos Jr. to assist motorists and passengers stranded in traffic on Nlex due to flooding at the Tulaoc Bridge in San Simon, Pampanga,” Castro said in Filipino in a press briefing on Wednesday. She said MPTC decided to give free toll after talking with the President and DOTr. “The Nlex management—responded positively [to the President],” Castro said. Many motorists were trapped in horrendous traffic congestion in the Nlex during the weekend because of the flooding in San Simon, Pampanga. Castro said DOTr and its attached agency, the Toll Regulatory Board to make sure motorists affected by the traffic congestion will be given food and drinks and access to portalets. On Tuesday, the Presidential Communications Office undersecretary said it will let the MPTC, which operates the NLEX, decide if it will implement the free toll. With Samuel P. Medenilla

www.businessmirror.com.ph

Thursday, September 3, 2026

Ombudsman gets flak for dropping Bonoan

By Jovee Marie N. dela Cruz

@joveemarie

HE Office of the Ombudsman’s decision to make former Public Works secretary Manuel Bonoan and other Department of Public Works and Highways (DPWH) officials state witnesses drew criticism on Wednesday, as a former law school dean argued that those who oversaw the design, bidding, implementation, and payment of allegedly irregular projects should be considered key figures in the alleged plunder scheme and should face prosecution instead of receiving immunity. Former Pamantasan ng Lungsod ng Maynila (PLM) president and College of Law Dean Jose Roy III, who served on the defense team of impeached Chief Justice Renato Corona in 2012, said DPWH officials controlled crucial stages of government projects, including funding, design, bidding, contractor selection, approval of completed works, and payment releases, making their role central to any alleged irregularities. “I have long noticed that DPWH officials are repeatedly being given immunity in these cases,” Roy said, questioning why officials with direct control over projects were

being protected from prosecution. His remarks came after the Sandiganbayan Fifth Division approved the Ombudsman’s request to remove Bonoan as an accused in cases involving an alleged P573-million flood-control kickback scheme, allowing him to serve as a state witness. Roy argued that under the law, a state witness must not appear to be the most guilty among those accused. He questioned whether lawmakers accused of receiving kickbacks could be considered more responsible than officials who controlled the transactions. He said DPWH officials handled the documents, approvals, and processes

needed for government funds to be released, giving them a major role in determining accountability. The ruling differed from an earlier decision by another Sandiganbayan division, which kept Bonoan as an accused in a separate graft case. Roy warned that allowing officials who allegedly played major roles in the transactions to escape prosecution could weaken efforts to hold those responsible accountable. Meanwhile, the camp of former Speaker Ferdinand Martin G. Romualdez questioned the Ombudsman’s continued focus on the Leyte congressman, saying there was no credible evidence linking him to the alleged flood-control controversy. Romualdez’s legal counsel-spokesman Ade Fajardo said the investigation appeared to unfairly single out the former House leader despite other officials being removed from allegations after witnesses withdrew their claims. Fajardo said five members of the so-called “18 Maleta Boys,” including alleged star witness Orly Guteza, formally retracted their accusations against Romualdez through sworn affidavits. He added that 25 colleagues of the recanting witnesses also disputed the original allegations, further weakening the claims against the former Speaker. Despite the withdrawals, Fajardo said the Ombudsman continued to pursue a case against Romualdez, which he described as difficult to understand. “We are puzzled why the former Speaker is being treated this way. It appears that the matter has become personal,” Fajardo said.

Estrada remains charged

THE Sandiganbayan’s Fifth Division, voting 2-1, earlier dropped Bonoan as co-accused of Sen. Jose Pimentel Ejercito alias Jinggoy Estrada in the plunder and graft charges filed against them in connection with the flood control scandal. In a 29-page resolution, the court granted the motion filed by the Ombudsman on June 29, 2026 seeking the amendment of the information to exclude Bonoan as co-accused in the case. “Accused Manuel Manligas Bonoan is accordingly excluded from the information in these cases and the warrants of arrest and hold departure order issued by this division against him in these cases are recalled,” the resolution read. The anti-graft court held that the decision to move for the discharge of an accused “is part of the Ombudsman’s prosecutorial discretion in the determination of who should be used as a state witness to bolster the successful prosecution of criminal offenses.” T he O m b u d s m a n mo v e d f o r Bonoan’s removal from the plunder and graft case following its decision to accept his offer to become a state witness against high profile individuals, including Romualdez, who are being linked in the f lood control mess. It earlier said that Bonoan has valuable information to offer in connection with the budget process, particularly on the DPWH budget, in which the House leadership allegedly made insertions for kickbacks. Romualdez has been tagged “master plunderer” by Ombudsman Jesus

Crispin Remulla for allegedly manipulating and pocketing funds intended for flood control projects of the government from 2022 to 2025 amounting to at least P56 billion. The former House leader is now a subject of a preliminary investigation for plunder, graft, bribery and money laundering charges before the Ombudsman. The Sandiganbayan further held that the Ombudsman has the prerogative to exercise its power to grant immunity to a witness under Republic Act 6770 or the Ombudsman Act of 1989. The anti-graft court did not give weight to the opposition raised by Bonoan’s co-accused that his exclusion from the information would prejudice their defenses. “As correctly argued by the prosecution, the participation of accused Bonoan is not deleted in the information, he is still included in the facilitation of the inclusion of the DPWH projects,” the anti-graft court pointed out. In his opposition, Estrada argued that Bonoan’s discharge as state witness would be prejudicial to his rights as the latter can now be expected to take the stand and deflect the blame to him. T he Sandiganbayan, however, ruled that Estrada’s claim “is speculative.” “The accused are not deprived of their defense as they may still deny any conspiracy or agreement between themselves or as between accused Estrada and Bonoan. “They shall also be fully afforded the opportunity to cross-examine accused Bonoan and impeach his testi-

Storms, habagat casualties up No confi-funds released to Army, AFP, By Jonathan L. Mayuga @jonlmayuga

HE death toll attributed to tropical cyclones Luis, Maymay, and Neneng, and the southwest monsoon or habagat, has climbed to 39, the National Disaster Risk Reduction and Management Council (DRRMC) reported on Wednesday. This, as Typhoon Pilandok continues to induce rain, aggravating the monsoon rains that continue to drench some parts of Luzon, the state weather bureau reported. T he inclement weather, characterized by nonstop rains that trigger landslides and f lash f loods and cause severe f looding in low-ly ing areas in Luzon, including the National Capital Region, injured 20 persons. T hree other persons remain missing. In its Wednesday 6:00 a.m. report on the combined impacts of the three tropical cyclones and the southwest monsoon, NDRRMC said the affected population has also to 2.7 million families or 9.4 million persons. Various government agencies led by the Department of Social Welfare and Development (DSWD), together with concerned local governments (LGU) continue to assist affected families in 968 different evacuation centers, providing them with family food packs, water, medicines, tents, clothing, and bedding. As of Wednesday, 20,279 families or 71,364 persons remain in evacuation centers. Despite improved weather in some areas, the number of affected barangay affected by flood has also increased to 6,328 across most of Luzon. The government has so far spent around P1.85 billion to assist the affected families. The NDRRMC said it is monitoring 711 different f looded areas across Luzon. About 178 LGUs are still under a state of calamity. The NDRRMC said the flooding

and landslides have damaged 3,900 houses. Because of the flooding, damage to public and private infrastructure has ballooned to P6.27 billion, while crop damage is now estimated at P2.84 billion. In its 11 a.m. Tropical Cyclone Bulletin issued on Wednesday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) reported that Pilandok is now moving northwestward over the Philippine Sea.

Gale-force gusts OWING to the southwest monsoon, strong to gale-force gusts are threatening most of Luzon and Visayas, Zamboanga del Norte, Misamis Occidental, Lanao del Norte, Misamis Or ienta l, Camig uin, Dinagat Islands, Davao Occidental, and Davao Oriental. Ilocos Norte, Ilocos Sur, La Union, Pangasinan, Abra, Benguet, and Zambales are experiencing 50 to q00 mm or moderate rains today and will continue until September 5. Meanwhile, moderate to heavy rainfall is forecast over Occidental Mindoro on Friday and Saturday. Pagasa said heavy rainfall and severe winds may still be experienced in localities outside, but near the stormaffected areas. Pilandok is forecast to remain as a tropical storm as it moves northwestward throughout the forecast period and will remain far from the Philippine landmass, the weather bureau said. At midday on Wednesday, Pilandok was located at 1,205 kilometers east of extreme Northern Luzon and is moving northwestward at 10 kilometers per hour and is packing maximum sustained winds of 65 kph near the center and gustiness of up to 80 kph. Pilandok is forecast to exit the Philippine Area of Responsibility on Thursday, September 3. See “Habagat,” A4

former DepEd exec tells impeach court

ORMER Education undersecretary Michael Wesley Poa confirmed on Wednesday that no DepEd confidential funds were provided to the Army or the Armed Forces (AFP) for the Youth Leadership Summits (YLS) cited in military certifications submitted to the Commission on Audit (COA) as part of liquidation support documents. Poa made the statement while testifying as a hostile witness during the impeachment trial of Vice President Sara Z. Duterte, who was the Education secretary when DepEd spent P112.5 million in confidential funds in 2023. The Senate Impeachment Court allowed the prosecution to ask him leading questions after declaring him a hostile witness. Asked by private prosecutor Benjamin Tolosa Jr. whether DepEd confidential funds were given to the AFP for the YLS activities, Poa replied that he confirmed they were not. Poa’s testimony supported earlier statements from Army officers Col. Manaros Boransing II and Col. Magtanggol Panopio, who said their units did not receive DepEd funds for the Youth Leadership Summits and that their certifications were only meant to confirm participation in military-led activities, not the use of confidential funds. Poa said he recalled AFP officers explaining that they did not know their certifications would later be used as supporting documents for DepEd’s confidential fund liquidation before COA. The former DepEd official also admitted that his understanding of the supposed connection between confidential fund expenditures and AFP activities was only based on his interpretation of the documents provided to him. “That is just my interpretation of the certification,” Poa said, adding that he had no personal knowledge of whether information obtained from confidential informants actually resulted in the military activities

mentioned in the documents. The prosecution questioned whether the AFP certifications were sufficient proof that confidential funds were properly used. It argued that the documents only showed that military activities took place but did not establish a direct link between informants, information gathered, rewards paid, and successful operations. Poa said his involvement in the matter began only after COA issued an Audit Observation Memorandum regarding DepEd’s confidential fund expenses. He explained that he was tasked to help prepare DepEd’s response to the audit findings. He consulted former special disbursing officer Edward Fajarda, who referred him to then-Undersecretary Nolasco Mempin for documents that could support the agency’s explanation. Mempin later provided AFP certifications that were attached to DepEd’s response to COA. The prosecution argued that Poa’s testimony highlighted questions about why he was assigned to respond to COA despite having no firsthand knowledge of how the confidential funds were used.

Direct line POA testified that he directly reported to Duterte, received instructions on DepEd operations, and sought her guidance before media interviews. Defense lawyer Shiela Sison acknowledged Poa’s credibility, saying, “He is trusted, and he is good at what he does.” Poa said Duterte recommended him for his appointment as undersecretary and confirmed: “Yes, I do,” when asked if he reported directly to her. As chief of staff, Poa said he provided updates to Duterte and received her instructions on department matters. He also confirmed that before media interviews, he would consult Duterte about what she wanted him to say: “I have to message the Vice President at that time to find out every time what she wants me to say

during the interview.” However, despite his senior position, Poa maintained that he had no firsthand knowledge of how DepEd’s confidential funds were used. “I don’t have personal knowledge of the operations of DepEd,” he said. Poa said his involvement began only after the Commission on Audit issued an Audit Observation Memorandum. He did not sign the original liquidation reports for the P112.5 million confidential funds.

Not all POA added that not all information purchased from informers would necessarily result in successful operations, as prosecutors questioned the basis for P15.54 million in reported DepEd confidential-fund rewards. Poa ex plained that his statement was only his interpretation of the rules and not based on personal knowledge of DepEd’s confidential fund operations. The prosecution cited Joint Circular 2015-01, which requires confidential fund rewards to be supported by documents showing the success of information-gathering or surveillance activities resulting from the informer’s information. Poa agreed that the rule requires a connection between the information provided and successful activities but argued that not every piece of purchased information would immediately lead to success. He said his involvement began only after the Commission on Audit (COA) issued findings on DepEd ’s confidential fund use. He relied on documents and consultations with other of f icia ls in prepar ing the agency’s response. T he pros e c ut ion m a i nt a i ne d that DepEd must prove a clear link between informer payments, information received, and successful operations. Poa also confirmed that he was not involved in the original use or liquidation of the funds.

Jovee Marie N. dela Cruz

mony during trial,” it added. Thus, the Fifth Division finally set the arraignment of Estrada on September 3 (Thursday) for the plunder and graft charge. Three other co-accused in the case namely DPWH-Manila assistant district engineer Denryl Caesar Cortuna and district engineers Manny Bulusan and Arturo Gonzales, Jr. have previously been arraigned. However, Bonoan remains as Estrada’s co-accused in the graft case pending before the Second Division. It may be recalled that last month the Second Division denied the Ombudsman’s motion to amend the information and exclude Bonoan as co-accused. The Second Division held that Estrada had already been arraigned on June 4, thus, dropping Bonoan as his co-accused would alter the theory of the prosecution from one involving concerted criminal action to one involving a lone criminal action. The Second Division added that Bonoan’s exclusion will force Estrada to prepare a different defense. The senator is being detained on plunder and graft charges filed by the Ombudsman for allegedly receiving kickbacks from the government’s f lood control projects amounting to over P573 million for the period 2024-2025. The Ombudsman claimed Estrada along with former Department of Public Works and Highways officials and several individuals were involved in an “intricate mechanism involving illegal budgetary insertions and project allocations” within the DPWH infrastructure portfolio for the year 2025.

Comelec 2028 election preparations face ₧9.12 billion budget reduction By Mary Jade Jadormio

REPARATIONS of the Commission on Election (Comelec) for the 2028 elections are set to take a P9.12billion hit under the proposed 2027 budget, with funding cuts targeting machines, ballot printing and election logistics. The poll body originally sought P52.66 billion for 2027 but later revised its request to P44.72 billion after adjustments. However, the Department of Budget and Management (DBM) recommended only P29.5 billion for the poll body, resulting in a P15.22-billion reduction from its revised proposal. Of the total cut, P9.12 billion would come from funding for preparatory activities for the national and local elections, while another P5.75 billion would be taken from regular operations. Comelec Chairman George Erwin M. Garcia stressed the importance of securing adequate resources early for the next elections. “We hope they will consider that the 2028 NLE is highly important. Early preparation and sufficient resources are critical for its successful conduct,” Garcia told the BusinessMirror. Among the biggest reductions is the P1.51-billion cut in funding for the lease of the automated election system (AES), which would bring the allocation down from P23.16 billion to P21.66 billion. Comelec said the reduction would leave it short of 9,310 machines from the 124,310 units required for the 2028 polls. Funding for the printing of ballots, forms and voter information sheets would also fall by P2.94 billion, from P3.28 billion to only P348 million. Deployment and logistics would take another P2.51-billion cut, leaving P127 million from the proposed P2.63 billion. Election forms, supplies and consumables would lose P806 million, with more than 80 percent of the requirement left unfunded under the proposed allocation. See “Comelec,” A4

Thursday, September 3, 2026

www.businessmirror.com.ph

Local govts now allowed to use 20% of devt fund for energy projects By Jonathan L. Mayuga @jonlmayuga

HE Department of the Interior and Local Government (DILG), Department of Budget and Management (DBM), and Department of Finance (DOF) have jointly issued new guidelines allowing local governments (LGU) to use 20 percent of their development fund (DF) for projects aimed at cushioning the impact of the energy crisis. Under DBM-DOF-DILG Joi nt Memorandum Circular 1, LGUs may fund development-oriented and capital-intensive projects that support the government’s Unified Package for Livelihoods, Industry, Food, and

Transport (Uplift) Framework. Under the new policy, the construction or establishment of local oil storage facilities; expansion of renewable energy projects and smart and green grid systems; procurement of electric

vehicles (EVs) for health services, uniformed services, as well as disaster risk preparedness and response operations, may now be funded wholly or partly by the LGUs’ development fund. Projects may also include the construction and installation of solar photovoltaic systems and infrastructure, as well as other applicable energy efficiency projects recommended by the Inter-Agency Energy Efficiency and Conservation Committee. The Uplift Framework was adopted under Executive Order 110, s. 2026, following President Marcos’ declaration of a State of National Energy Emergency. It provides a unified government response to safeguard energy stability, economic continuity, and public welfare. The JMC supplements an earlier directive governing the appropriation and use of the 20 percent DF, giving LGUs greater f lexibility to align local resources with the Uplift Framework and undertake interventions that mitigate the effects of the energy emergency.

LGUs are likewise encouraged to coordinate with relevant national government agencies to ensure that local interventions complement existing programs and provide additional support to sectors or areas not sufficiently covered by national or local initiatives. The DILG emphasized that energy efficiency and conservation projects funded under the 20 percent DF must be integrated into local planning, investment programming, budgeting, and reporting mechanisms, including the Local Energy Efficiency and Conservation Plan. The fund, however, cannot be used for recurring expenses such as fuel purchases, electricity and water bills, and other day-to-day administrative costs. Through the newly issued guidelines, LGUs can mobilize local investments toward cleaner, more resilient, and energy-efficient communities while helping cushion the impact of global energy uncertainties on local economies and the delivery of essential public services.

Nasecore concerns already addressed–ERC By Lenie Lectura @llectura

HE Energy Regulatory Commission (ERC) said on Tuesday it has addressed the concerns of National Association of Electricity Consumers for Reforms (Nasecore) regarding line rental charges prior to the filing of a complaint at the Office of the Ombudsman. The consumer group led by Pete Ilagan said in its filing before the OMB against ERC Chairman Francis Saturnino Juan and four commissioners that the agency permitted the hidden and unverified integration of line-rental charges into consumer electricity bills. The ERC, however, said it had already responded to Nasecore’s concerns on this issue before the Ombudsman com-

Comelec. . . Continued from A3

Comelec also identified P154 million for travel, mobilization, voting-center inspection and precinct operational plan verification as among the preparatory activities that would receive zero funding. Another P136.6 million intended for training trainers and Department of Science and Technology certifiers was completely removed, while P409.9 million for the National Technical Support Center and other maintenance and operating expenses was likewise given no allocation. Regular operations would also be affected, with continuing voter registration and voter education reduced by 99.9 percent, leaving only P718,000 against the P1.33-billion requirement.

plaint was filed last July 13 and August 4. It said that the collection of these charges, particularly in the Visayas, were halted last August 13 and the ERC established accurate calculation methods for future billing. “The law places the power to review the commission’s actions with the Court of Appeals and the Supreme Court and we welcome that scrutiny” said Juan. “We take consumer concerns seriously. That us why we have already answered Nasecore’s questions in writing, in detail, not once but twice. “We remain confident that our processes are grounded in law, and we are ready to have that record examined by appropriate body,” said Juan. Additionally, the ERC noted that the Independent Electricity Market Operator of the Philippines (Iemop) must audit market settlements dating

back to June 26, 2021, to evaluate the financial impact on utilities and determine necessary refunds. Line Rental, officially known as Bilateral Line Loss and Congestion Cost (Bilateral LLCC), is a standard feature of the Wholesale Electricity Spot Market (WESM) rather than a fee invented by regulators or utilities. It serves as a settlement adjustment accounting for value loss and price differences when electricity is transmitted from generation points to consumption areas, functioning as part of the total trading amount paid for energy delivery. While the ERC acknowledged Nasecore’s consumer advocacy, the agency maintained that some of the group’s demands exceed the legal authority of any single stakeholder. Juan said the Commission is bound

by its own rules to protect certain information from being disclosed outside the proper, legal processes. The ERC, he stressed, rejects deadlines set by outside groups as grounds for criminal or administrative complaints, emphasizing that its decisions must be tested through official records, the law, and the courts. “This does not close the door on Nasecore’s concerns. The group remains free to raise specific, documented questions about any utility’s charges, to participate as an intervenor in the Commission’s public rate and confirmation proceedings, or to seek judicial review of any ERC action before the Court of Appeals and the Supreme Court, as provided by law. These channels remain fully open, and the Commission will continue to engage Nasecore through them in good faith,”Juan said.

Female-led enterprises expand market access By Carmel Pedroza

E B U C I T Y— Fi l i p i n o wo m e n entrepreneurs are increasingly moving beyond local markets, with nearly one-third of members of a nationwide women’s business network already engaged in cross-border trade. This, as the Philippines prepares to host an Association of Southeast Asian Nations (Asean) summit aimed at expanding market access for women-led enterprises. Of the 645 women entrepreneurs currently par t of the Women Strong Network, about 30 percent are already

involved in cross-border trade, according to Mylene Abiva, Asean Access ambassador. The net work , suppor ted by the Women’s Business Council Philippines (WomenBizPh), is seeking to help more female-led businesses transition from informal enterprises into formal, marketand export-ready businesses capable of competing in regional and global markets. Abiva said the initiative grew out of a 2020 survey and focus group discussion that examined how women affected by the Covid-19 pandemic could transition into emerging “sunrise industries.” What started with 120 participants representing 13 of the Department of

Trade and Industry’s 16 regional offices has since evolved into a nationwide platform providing entrepreneurs with trade exhibitions, online selling opportunities, capacity-building programs, financing, and business-matching opportunities. The effort is gaining added significance as the Philippines prepares to host the Asean Women Economic Summit on November 10 at Okada Manila, which is expected to bring together about 1,000 participants, including around 300 international delegates composed of business leaders, ministers and other representatives from Asean member-states and partner economies.

Dole seeks budget increase for jobs, livelihood programs By Mary Jade Jadormio

HE Department of Labor and Employment (Dole) is seeking move funds for programs that provide jobs and livelihood assistance to workers, particularly those in the provinces and those belonging to marginalized sectors. Labor Secretary Francis N. Tolentino raised the funding needs during a consultation with representatives from various provinces, congressional districts and party-list groups. Inputs from workers and communities are being used to align Dole’s proposed budget with areas where access to employment, livelihood assistance, labor services and social protection remains a concern. Among the programs Dole wants to sustain and strengthen is the Government Internship Program (GIP), which provides employment opportunities for young people. Also on the department’s funding priorities are the Special Program for Employment of Students (Spes), Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (Tupad) and Integrated Livelihood and Emergency Employment Program (DILP). DOLE is also asking for resources for its newly established Labor

Attorneys Office to strengthen the deliver y of labor justice. Funding for other labor programs and services is being sought as part of efforts to maintain industrial peace. Job creation remains a central priority in DOLE’s proposed spending, alongside stronger labor governance and worker protection. Social protection is another focus, particularly for workers facing unemployment, displacement and economic insecurity. The agency said government resources should be directed toward programs that provide meaningful employment opportunities and assistance to workers most vulnerable to economic disruptions. Workers in underserved communities and marginalized sectors are among those the department wants to reach through stronger employment, livelihood and social protection programs. Dole said stronger programs and services are needed to widen workers’ access to employment opportunities, livelihood assistance, labor protection and social safety nets. Through the budget proposal, DOLE is seeking to strengthen its capacity to respond to workers’ employment, livelihood and protection needs across the country.

A220 training simulator to arrive at Airbus Asia Training Center

SIA Training Center (AATC), a joint venture between Airbus and Singapoere Airlines, will house an A220 Full-Flight Simulator (FFS) for the Asia Pacific region at its Singapore campus. In a statement sent to reporters covering the Ninoy Aquino International Airport, Airbus said the facility is scheduled to be operational in the last quarter of 2027. The A220 simulator, it said, supports the region’s growing demand for pilot and maintenance training on this latest-generation single-aisle aircraft type. It said the deployment of the A220 Training Services will be carried out in partnership with Flight Training Alliance (FTA), the Airbus Authorised Training Provider for the A220 (a joint venture between CAE and Lufthansa Aviation Training (LAT)). Under this agreement, FTA will deploy the Full Flight Simulator (FFS), while the Airbus Asia Training Center (AATC) will manage operations

Habagat. . . Continued from A3

PAF launches relief ops

THE Air Force (PAF) on Wednesday said its S70i “Black Hawk” helicopters conducted airlift operations for southwest monsoon drenched communities in Zambales on Tuesday. In a statement the PAF spokesperson, Col. Ma. Christina Basco, said the mission was carried out through the Tactical Operations Wing-Northern Luzon, and the Air Logistics Support Command, in coordination with the Army. “[ The PAF] continues to suppor t

and training delivery. “Establishing A220 training capabilities in the region is a strategic enabler for Airbus’s growth footprint in Asia Pacific,” said Silvia Meloni, General Manager of Airbus Asia Training Centre. “The new A220 simulator will provide airline operators across the region with convenient access to world-class training, helping train their pilots closer to home while supporting the safe and efficient entry into service of their A220 fleet. We also anticipate an increase in training demand for the A220 as the aircraft programme continues to gain momentum in this region,” added Silvia. As the A220 continues its expansion across the Asia Pacific region, the new training simulator in Singapore is a vital milestone in Airbus’ strategy to provide seamless, high-quality support close to where customers operate, ensuring that the A220 fleet achieves the highest standards of safety, efficiency and reliability. Nonie Reyes

humanitarian assistance and disaster response [HADR] operations by airlifting relief supplies from Clark Air Base, Pampanga, on September 1,” she added. Basco said PAF S-70i “Black Hawk” helicopters airlifted 1,000 family food packs from the Department of Social Welfare and Development for delivery to affected communities in barangay Santa Fe, San Marcelino, Zambales. ““The operation underscores the PAF’s commitment, alongside its government and military partners, to ensuring the timely delivery of essential assistance to communities affected by disasters,” she added. With Rex Anthony Naval

Thursday, September 3, 2026

DILG chief calls for unity, zero politicking in local infra projects vs flooding

EPARTMENT of the Interior and Local Government (DILG) Secretary Jonvic Remulla on Tuesday called for unity across all levels of government and zero politicking in the implementation of local infrastructure projects. Remulla issued the appeal as the government intensifies efforts to address widespread flooding following Habagatinduced heavy rains that inundated major parts of Luzon. The National Disaster Risk Reduction and Management Council (NDRRMC) said the death toll since August 1 has now climbed to 39, with 19 persons injured and 3 others missing. The inclement weather characterized by nonstop rains has triggered landslides, flashfloods, and drenched most of Luzon, affecting 2.7 million families or 9.4 million persons and compelling 118 LGUs to declare states of calamity. Following the marching orders of President Ferdinand Marcos Jr. to execute plans on flood control projects, Remulla said a whole-of-government approach is necessary to effectively address the country’s persistent flooding problem. “ Kailangan magkaisa tayo. Mula local hanggang national, dapat magkaisa tayo,” he said. During the turnover of the Imus Retarding Basin in Imus City, Cavite, Remulla stressed that corruption-free implementation and good politics can deliver government projects that genuinely benefit and protect communities. “Wala kang makikitang kalokohan dito. Ito ang resulta ng tamang politika,” he said. Remulla said the more than P2-billion project was implemented through a clean transaction between the Japan International Cooperation Agency (JICA) and the Philip-

pine government, resulting in flood control infrastructure designed to deliver concrete protection to communities. He cited the well-studied partnership between the Department of Public Works and Highways (DPWH) and JICA, expressing optimism that the project can serve as a model for flood mitigation infrastructure in other parts of the country and help address recurring chest-deep flooding in Imus. “Hindi high technology ito. Hindi komplikadong sistema ito. Simple proven science that was perfected in Japan, which the Japanese government generously provided us with assistance,” Remulla said. Located along Palanas Road in Barangay Anabu 1-G, Imus City, the 35-hectare retarding basin can store up to 1.12 million cubic meters of stormwater during heavy rains. The collected water will later be gradually released, helping regulate the overflow of the Imus River and reduce flood flow toward low-lying areas. Remulla said replicating retarding basins in strategic areas nationwide, including the provinces of Pampanga, Bulacan, and Nueva Ecija, could provide a practical solution to the recurring flooding experienced by communities. With the facility’s formal turnover to the Cavite Provincial Government, the local government unit (LGU) will assume responsibility for its maintenance and security to ensure its long-term functionality amid the continuing threat of typhoons and the southwest monsoon. Also present during the turnover ceremony were DPWH Secretary Vivencio “Vince” Dizon, Cavite Governor Francisco Gabriel “Abeng” D. Remulla, Cavite Vice Governor Ramon Vicente “Ram” H. Bautista, Imus City Mayor Alex Advincula, and JICA Chief Representative Baba Takashi. Jonathan L. Mayuga

Massive forced outages trigger red alerts in Visayas, Mindanao

HE power grids in Visayas and Mindanao were placed on yellow and red alerts on Wednesday due to lack of power supply. The red alert takes effect from 2 p.m. to 10 p.m. in Visayas and 1 p.m. to 4 p.m. and 5 p.m. to 8 p.m. in Mindanao. A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement. The yellow alert, which is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement, took effect from 1pm to 2 p.m. and from 10 p.m. to 11p.m. in Visayas. For Mindanao, the yellow alert was issued from 12 noon to 1 p.m., 4 p.m. to 5 p.m., and 8 p.m. to 9 p.m. Visayas’available capacity was at 2,139MW as against a peak demand of 2,555MW. There are currently 8 plants on forced outage: 6 have been out since August 2026, 1 since July, 2 since June, 7 since May, 3 since 2025, 2 since 2024, 2 since 2023, and 1 since

2021. In addition, 14 plants are operating at reduced (derated) capacities. In total, 840.1 MW of generating capacity is unavailable to the grid. The Mindanao grid’s available capacity stood at 2,526MW while peak demand reached 2,545MW. Seven power plants are on forced outage, 13 plants since August, 4 plants since July, 1 plant since June, 2 plants since January, 1 plant since 2025, and 1 plant since 2024, while 7 plants are running on derated capacities, for a total of 855.1MW unavailable to the grid. The Department of Energy (DOE) said it is actively coordinating with the Independent Electricity Market Operator of the Philippines, NGCP, Energy Regulatory Commission, generation companies, and industry stakeholders to expedite the safe restoration of affected facilities and implement all available measures to stabilize the grid and protect consumers. Lenie Lectura

Escudero strikes ‘abogadong walang alam’ from impeachment trial record

EAD defense counsel lawyer Sheila Sison on Wednesday raised concerns regarding the remark “abogadong walang alam” used by private prosecutor lawyer Benjamin “Jay” Tolosa Jr. as he presented the prosecution’s 13-point offer of evidence during the 21st day of the impeachment trial of Vice President Sara Duterte. Sison argued to include in the offer the statement that said, “ang abogadong walang alam” is proper. It was used by the prosecution to describe hostile witness lawyer Michael Poa, who temporarily stepped aside as spokesperson and counsel for Vice President Sara Duterte’s defense team. “Quite frankly, Your Honor, I don’t know if the 13-point offer of the counsel deserve any reasonable comment,” she said, stressing that they sound really just rhetoric aid to provide drama in this proceedings. “Whether here or outside the court. Whether we are trying an impeachment case or just talking to one another as fellow

members of the bar, I believe and have to ask the court to strike this off the record,” Sison said. Presiding Officer Francis “Chiz” Escudero then ordered the removal of “abogadong walang alam” from the official record, believing it was inappropriate and discourteous to fellow members of the legal profession. “The chair finds it discourteous, to say the least, and this should not be used to a fellow lawyer, especially,” Escudero said. Sison also stated that the 13 points mentioned and their descriptions of Poa, like calling him one of the Vice President’s “most trusted men,” were “misleading.” Poa took the stand to testify regarding Article I of the impeachment complaint, which covers the alleged misuse and liquidation of P112.5 million in Department of Education confidential funds during the tenure of Duterte as the Secretary. Claudeth Mocon-Ciriaco

Marcos OKs ₧300M for Aquino Bridge repair, cites climate change as cause By Samuel P. Medenilla

@sam_medenilla

RESIDENT Ferdinand Marcos said the government has allocated P300 million to repair the Aquino bridge, which was damaged due to strong flow of the Tarlac River from the heavy rainfall from the Southwest Monsoon during the weekend. The Chief Executive issued the announcement on Wednesday during an inspection of the damaged Aquino and Agana Bridges in San Isidro, Tarlac City. “To expedite the work, we will be transfer-

ring P300 million the local government, as this is a local bridge project. Consequently, they are the ones who need to carry out the work. Of course, we will assist them—providing help with technical aspects and supporting them

in every way we can,” Marcos said in Filipino, referring to the Aquino bridge in an interview with reporters after the inspection. Citing the reports from the Department of Public Works and Highways (DPWH), he said that a section of the 70-year old Aquino bridge suffered severe damage because of the swift water current of the Tarlac River, which moved at 30 to 35 knots during the weekend. He attributed the heavy rainfall, which causes the strong river flow, to the extreme weather caused by climate change. “That is an extremely high speed, making the water’s force immense—which is why this happened,” Marcos said. “Throughout the Philippines’ history, this is the first time we have experienced this kind of rainfall and flooding, precisely because the weather is changing due to climate change,” he added. He said the Bailey Bridge was being built to accommodate pedestrians after a week and light vehicles within two weeks, while the Aquino bridge is still under repair. The repair for the damaged Agana bridge,

Marcos said, was also ongoing and is expected to be completed earlier compared to that of Aquino bridge. “They assure me that in two weeks, there will already be light traffic allowed across Agana Bridge. And well, maybe the Aquino Bridge might take a little bit longer because the damage is greater,” Marcos said. After inspecting the bridges and conducting aerial inspection in Tarlac, Marcos also looked into the status of the Sto. Cristo Dam in Lubao, Pampanga, which was clogged by debris, and logs and caused an overflow, which damaged houses To prevent the recurrence of the said incident, he said they will construct the Sabo Dam upstream the Sto. Cristo Dam. While the Sabo Dam is yet to be constructed, he said they will install a barrier to prevent trash or logs from drifting downstream and disrupting the operation of the Sto. Cristo Dam. Marcos also visited evacuation center in Sta. Catalina in Pampanga to check on the welfare of families, who are staying in the said facility.

Cebu ramps up health spending and investment pipeline as Baricuatro pushes future-ready growth

EBU CITY—The Cebu Provincial Government poured P4.8 billion into healthcare infrastructure, equipment and services in its first year under Governor Pamela Baricuatro, as the administration simultaneously moved to tighten public financial management and build an investment pipeline around energy, water, waste management and other long-term infrastructure needs. In her State of the Province Address, Baricuatro said the healthcare outlay was among the administration’s biggest investments during its first year, reflecting a strategy of directing more public resources toward essential services while addressing deficiencies in the province’s 16-hospital network. The province also allocated close to P600 million for medicines, expanded its complement of doctors, nurses, medical technologists, pharmacists, and support personnel, and opened medical scholarships and residency programs to help build a longer-term pipeline of healthcare professionals. One of the administration’s most significant operational gains, according to the governor, was the expansion of 24-hour laboratory services to all 16 provincial hospitals, from only four previously. The provincial hospitals are also now accredited under PhilHealth’s YAKAP program, while the province has expanded medicine access through its Gamot Pharmacies, piloted

longer outpatient hours and improved compliance with PhilHealth requirements across its hospital system. “For a patient whose emergency happens at midnight, that difference is not administrative. That difference can be life or death,” Baricuatro said of the expansion in roundthe-clock laboratory services. Beyond healthcare, Baricuatro framed the first year of her administration as a rebuilding period for the province’s financial and operating systems. The provincial government adopted a public financial management improvement plan, sought to improve the utilization of development funds, and mobilized resources so that priority programs would not be dependent on locally generated funds alone. It also settled P63 million in obligations that had remained unpaid since 2018, with the governor noting that these liabilities also represented payments due to businesses that had fulfilled contracts and delivered services to the provincial government. The administration also moved to improve procurement and project execution by taking bid openings online, streamlining procurement and contractor payments, and establishing an infrastructure project and management monitoring system. Nearly P1 billion was likewise released directly to barangays and local government units during the year, while the province passed a Freedom of Information Ordinance

and expanded digital options for frontline transactions. For the governor, however, the broader objective is to use improved public-sector management as a platform for attracting and facilitating investments. The provincial government has been engaging investors and development partners through energy projects, trade missions, tourism planning and business support initiatives, while promoting Cebu as an economic center for a wider and more diversified pool of investors. The province has also facilitated privatesector investments in renewable energy, including solar and wind projects, and is pursuing long-term infrastructure solutions for water security, flood control and waste management. A proposed integrated waste management facility for northern, central and southern Cebu is being supported by a feasibility study backed by Japan’s Ministry of Environment. “Cebu is open for business, and we welcome investment,” Baricuatro said. But she said the province’s investment policy would emphasize the quality and local impact of projects, calling on investors to create jobs for Cebuanos, help develop Cebuano-owned industries, use local resources responsibly, and comply with laws and environmental standards. “An economy is not inclusive because wealth enters Cebu. It is inclusive when opportunity reaches every Cebuano,” she said.

The administration is also formulating Cebu’s Tourism Development Plan for 2027 to 2036, as it seeks to spread economic opportunities beyond established destinations while incorporating environmental protection and community interests into future tourism growth. For the rest of 2026 and into next year, the province is targeting further healthcare and infrastructure investments, including the planned upgrade of the Argao and Malabuyoc district hospitals to Level 1 facilities. It is also pursuing additional water supply capacity under its 10-year water security plan, with a target of 29 million liters per day from existing water treatment projects and another 15 million liters per day for Dalaguete, Pinamungajan and Alcantara by next year. Baricuatro said the province would continue facilitating renewable energy investments and evaluating new infrastructure projects not only for their immediate benefits but also for their resilience against future disasters. The challenge, she said, is to convert public spending, investment commitments and institutional reforms into a more durable growth model for Cebu—one that strengthens basic services while making the province more prepared for future economic and environmental pressures. “Our direction is clear,” Baricuatro said. “From repair to readiness. From emergency response to prevention. From assistance to lasting opportunities,” she added. Carmel Pedroza

Moro Gulf tsunami @50: Cotabato wants ‘far stronger’ preparedness

AVAO CITY—The Bangsamoro region is pressing for stronger earthquake and tsunami preparedness as the country marks 50 years of the deadly Moro Gulf disaster which flattened swats of land and habitation in a midnight sweep of tsunami waters after a violent earthquake in the gulf. The call was raised during the first Bangsamoro Science and Technology Week on August 26 at the KCC Mall Convention Hall in Cotabato City, where the Ministry of Science and Technology (MOST) and the Philippine Institute of Volcanology and Seismology (PHIVOLCS) discussed earthquake and tsunami hazards and the importance of science-based disaster preparedness. In his opening message, Ibrahim Panalangin, MOST Chief Science Research SpecialistDesignate of the Advanced Science and Technology Division (ASTD), emphasized the need for government agencies and communities to work together to reduce disaster risks. “May this discussion make us more informed, vigilant, and prepared. Through science, collaboration, and collective action, together we can build safer and more resilient communities throughout the Bangsamoro,” he said. Panalangin urged participants to apply what they learned in improving programs, plans and services aimed at protecting communities from disasters and as science officials called on for resilient infrastructure,

informed communities and coordinated disaster response. Phivolcs Director Teresito Bacolcol said earthquake preparedness should go beyond knowing safety procedures such as “Duck, Cover, and Hold,” saying that areas closer to an earthquake’s epicenter generally experience stronger shaking, although local ground conditions and other factors can also influence the observed intensity. “Since we experience earthquakes, we need to understand why they happen. Knowing how to ‘Duck, Cover, and Hold’ is not enough if the building itself does not comply with safety standards. All buildings must be earthquake-resilient,” he said. He also discussed the Philippine Earthquake Intensity Scale (PEIS), noting that shaking at Intensity VI can cause damage, particularly to vulnerable or poorly built structures, while Intensity VII and higher can produce destructive to severe effects. He urged coastal communities to prepare for these hazards by knowing their evacuation routes and designated safe areas, particularly those in Maguindanao, Sultan Kudarat, the Zamboanga Peninsula, Basilan, Tawi-Tawi l, and Sulu. For locally generated tsunamis, Bacolcol reminded residents to recognize natural warning signs, including strong or prolonged ground shaking, a sudden recession of the sea

that exposes normally submerged areas, and an unusual roaring sound from the sea. The discussion heightened in the observance of the 50th anniversary of the Moro Gulf earthquake and tsunami, which struck at 11 minutes past midnight of August 17,

1976, killing as many as 8,000 residents and devastating coastal communities across 700 kilometers of coastline ravaged by the tsunami triggered by the earthquake estimated to measure at magnitude 8 in the current magnitude measurement.Manuel T. Cayon

Thursday, September 3, 2026

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Editor: Lyn Resurreccion

Thursday, September 3, 2026

US completes latest strikes vs Iran; vows more By Ben Finley

The Associated Press

ASHINGTON—The US military hit targets in Iran on Tuesday and Tehran fired missiles and drones at various sites across the region in response as hostilities flare once again in an intermittent war that has lasted more than six months. One US str ike hit a home hosting a wedding, killing five people and wounding dozens, local officials said. US Central Command said in a statement Tuesday evening that it had completed the latest barrage against Iranian military targets including air defense sites, radar systems and maritime assets. The US strikes followed others on Sunday that abruptly ended a month without military action and threatened to fully reignite a conflict that has spiked global oil prices and posed political problems for Republicans in November’s midterm congressional elections. Late Tuesday, US President Donald Trump said he would not

force Iran to the bargaining table. “I couldn’t care less if they sign a worthless, to them, agreement. I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing. They are just playing out the inevitable. When are the Iranian people going to rise up and fight?” Trump wrote on social media. Earlier, Trump had appeared to pivot toward trying to bend Iran to his will through economic sanctions. He warned that if Iran retaliated for the new strikes, “they will be hit again at a much harder and higher level.” US Central Command said the

latest attacks were in response to Tehran trying to hit commercial ships and American forces in the Middle East. The president offered an additional explanation, telling Fox News in a phone call that US forces struck Iran’s radars. “They tried to rebuild their radar because they can’t see anything,” Trump told Fox earlier in the day. “We waited until it was almost built and then we hit it.” After the US attacks started, Iran launched ballistic missiles at Jordan. The Iranian Revolutionary Guard command (IRGC) claimed to have targeted a US base along Jordan’s Gulf of Aqaba coast, according to Iran’s state television. Jordan’s military said it shot down 10 of the missiles and the three remaining landed in unpopulated areas. Explosions that appeared to be interceptions of incoming air attacks were seen over Aqaba. Iranian state media reported that the US had bombed civilian sites along Iran’s southern coast and hit a civilian airport. A US strike hit a home where a wedding ceremony was being held in Kuhestak in southern Iran, killing five people, including a child, and wounding at least 68 others, Ahmad Nafisi, Hormozgan Province’s deputy governor, told Iranian state television in a phone call.

CARS and residential buildings damaged in a US-Israeli strike on March 8 remain in ruins in Tehran, Iran, on August 27. AP/VAHID SALEMI

“Make no mistake: these crimes will not go unpunished,” Ebrahim Azizi, chairperson of the Iranian parliament’s National Security and Foreign Policy Committee, said on X. US Central Command is aware of the reports of civilian casualties, said Capt. Tim Hawkins, a spokesperson. He noted that they “originated from Iranian state media.” “The US military never targets civilians, unlike the IRGC,” Hawkins said. The Kuwaiti Army said on X that its air defenses intercepted drone attacks “following the criminal Iranian aggression.” Iran also said it launched a drone attack at US forces in Bahrain, but that country said all attacks had been intercepted. Iran’s Armed Forces General Staff and its joint military command said the armed forces would deliver what they described as “crushing and devastating blows” against the United States. T he st ate -r u n IR NA ne ws agenc y c ited a st atement by Iran’s paramilitary Revolutionary Guard, which warned that the attacks have only strengthened the Islamic Republic’s resolve and tightened Iran’s effective closure of the Strait of Hormuz, through which 20 percent of the world’s oil normally f lows.

Indonesia doubles down on coal to power its aluminum expansion By Anton L. Delgado The Associated Press

ANGKOK—Resource-rich Indonesia is expanding its production of aluminum as the Iran war disrupts supplies, relying on its abundant coal reserves to power new smelters that run contrary to efforts to curb carbon emissions that cause climate change. Prices have risen due to fuel shortfalls and attacks on infrastructure that have slowed production in the Middle East of the lightweight, silverish metal used in everything from kitchen foil and power lines to smartphones and cars. In working to raise its limited manufacturing capacity, Indonesia has a strong ally in China, which makes 60 percent of the world’s aluminum but is keen to reduce pollution and emissions from smelters on its own shores. Chinese companies have invested in about three-quarters of the planned Indonesian projects.

Iran war strains global aluminum supply

THE Middle East usually makes about 9 percent of the world’s aluminum, but output from the region is expected to drop 44 percent this year from 2025, according to Fastmarkets, a commodities information agency. Energy shortfalls drove Emirates Global Aluminium to back out of deals and Qatar Aluminium Ltd. to slash production, while Iranian strikes damaged Aluminium Bahrain’s facilities. A metric ton of aluminum traded for between $3,150 and $3,250 before the Iran war. But the conflict drove up that price to as high as $3,780 per metric ton in June. It’s now trading near $3,400 a metric ton. The war has magnified the potential for other regions, like Southeast Asia, to replace Middle East production, said Andy Farida of Fastmarkets. “When that supply is so unsure,

end users look for alternatives,” he said. “The war has really accelerated this transformation and put Indonesia on the map.”

Indonesia looks to build its aluminum output

ALUMINUM is one of the most used metals in the world and its production is highly energy intensive. The process starts with the mining of bauxite ore, which is refined into alumina and then smelted into aluminum. By the end of the decade, Indonesia wants to quadruple its alumina output to 32.5 million metric tons and ramp up aluminum production from around 1 million metric tons in 2025 to 14.5 million metric tons by 2030, according to the Centre for Research on Energy and Clean Air. The Finland-registered nonprofit is tracking 32 prospective off-grid coal plants, built by private companies to exclusively power aluminum smelters. These are known as “captive coal” facilities. There is limited public data on the emissions from these types of plants, according to Syahdiva Moezbar, with CREA in Jakarta. “This captive coal boom all over Indonesia is essentially not tracked. That is why it’s very concerning,” he said. Such plans are contrary to Indonesia’s promises to cut its use of coal, the most heavily polluting major fossil fuel and a significant source of planet-warming emissions. They also threaten to cause more damage at a time when the expansion of Indonesia’s globally important nickel industry is sacrificing local environments for industrialization. The aluminum industry accounts for about 2 percent of annual global greenhouse gas emissions, equaling about 1.1 billion tons of carbon dioxide equivalent each year, according to the World Economic Forum. That’s more than the total annual emissions of most countries. If all Indonesia’s planned projects begin operating by 2030,

CREA estimates that the country’s own bauxite reserves will be depleted in less than 12 years.

China has a big stake in Indonesia’s aluminum boom

CHINA has invested between $5.5 billion and $6 billion in Indonesia’s aluminum industry,

according to CREA, which forecasts this to surge to $30 billion by 2030. After Beijing set a domestic cap on aluminum production to curb overcapacity in 2017, Chinese companies expanded into other countries that have fewer restrictions, like Indonesia, according to Putra

Adhiguna, with the Jakarta-based Energy Shift Institute. Indonesia categorizes nickel and aluminum as “transition minerals” since they can be used in so-called clean technologies, such as electric vehicle batteries and solar panels. T h at ’s lef t a loophole for

compa n ies to m a i nt a i n t h at t he s e n ic k e l a nd a lu m i nu m invest ments, wh ic h a re f ueled by coa l, a re in keeping w it h c l imate c ha nge commit ments, despite t he fact t hat C h inese President X i Jinping pledged to stop f u nd ing oversea s coa l pl a nts in 2021.

A10 Thursday, September 3, 2026

TheWorld

US’s Bessent says 19 finance chiefs agreed ‘cheap exports’ are unsustainable; China dissents By Fatima Hussein & Chris Rugaber

The Associated Press

SHEVILLE, North Carolina— Treasury Secretary Scott Bessent said Tuesday that 19 of the members of the G20 had agreed to address streams of “cheap exports” that cause global economic imbalances, but said China had dissented.

Bessent made his comments at the end of a two-day meeting with finance ministers and central bankers where he tried to focus on growth, telling reporters he had urged some of his G20 counterparts to take a page from the Trump administration’s playbook of using tariffs and other measures to crack down on trade imbalances. “We believe that non-marketbased economies pushing out a never-ending stream of cheap exports is not sustainable,” Bessent told reporters. describing the sentiment that all but one G20 member had agreed to. “It is clear that the country with the world’s largest and unsustainable current account surplus, the People’s Republic of China, was the dissenter,” Bessent said. The Trump administration, echoing many economists, has blamed China for trade imbalances that have left it with a large trade surplus while the US has a sizable deficit. At the closing press conference

Tuesday, Bessent also previewed the upcoming meeting between President Donald Trump and China’s President Xi Jinping. He told reporters he had warned other nations at the beginning of Trump ’s second term that the new US “tariff wall” would mean that Chinese goods would flood their markets. “And unfortunately, I was right,” Bessent said. “The rest of the world probably needs to take a hard look at what they should be doing to protect their citizens’ jobs, their manufacturing base, so that everything they do doesn’t get offshored.”

Bessent says AI companies must explain themselves better

He also said Trump and Xi would discuss artificial intelligence (AI) policy when they meet later this month, saying more guardrails were needed to prevent “non-state actors” from building their own models. The treasury secretary added that he has made the point di-

rectly to industry leaders that AI companies, “whether it is the builders of the data centers, whether it is the labs themselves, have done a horrendous job, horrendous job of explaining themselves to the American people.” “They’re going to have to take some of the blame, and they are going to have to convince the American people that all the benefits will not accrue to a small group.” After the press conference, Trump posted on his social media site that “very productive and positive conversations were had” during the G20 meetings. He added, “Other Countries should follow our lead.” The Trump administration’s tariff policies have been criticized by economists and politicians for raising costs for US consumers and, in many cases, for punishing allies. The Tax Foundation, an independent think tank, found that the tariffs imposed by the Trump administration throughout 2025 raised the overall retail price of imported consumer goods by roughly 7 percent relative to pretariff trends. Ultimately, the US. Supreme Court in February decided that the sweeping global tariffs that Trump imposed under an emergency powers law were unconstitutional. The Trump administration has been overhauling its approach, and is eyeing an additional 7.5 percent tariff on Chinese imports after investigating alleged excess industrial capacity and forced-labor regulations.

US and China found some common ground on Iran

BESSENT met with his counterparts from China at the summit and said there was some common ground on Iran, specifically that Iran “cannot have a nuclear weapon” and that oil and other

goods should flow freely through the Strait of Hormuz, which Iran has restricted. Bessent has said China’s trade surplus, which reached a recordhigh $1.2 trillion in 2025, is a barrier to global economic growth—as well as what he calls excessive regulation. Global debt has reached a record high of $353 trillion, with the U.S. debt reaching a record $40 trillion in August. Markets have been concerned about a sell-off in US government bonds, but Bessent told reporters, “I don’t think we’re in any kind of dire situation” on bond markets. Meanwhile, the presence of Russian Finance Minister Anton Siluanov continued to agitate attendees of the conference. Siluanov met with Bessent on Monday on the sidelines of the meeting, but was not included in the traditional “family photo” of ministers. Canadian Finance Minister François-Philippe Champagne said Russia’s attendance at the G20 meeting “created a lot of discomfort around the table, not only from Canada, but from colleagues around the table.” “We have made sure our discomfort is being heard by colleagues with respect to who is in attendance at the meeting,” Champagne said. The European Commissioner for the Economy, Valdis Dombrovskis, said during a press conference Tuesday that it is not the time to “normalize” relations with Russia. Bessent defended the inclusion of Siluanov, arguing that “if the sides don’t talk, if we are not engaged, then how can it be solved?” “I know that some Europeans had a sour taste” about the invitation, Bessent said. “If both fighters go in a corner, then there will never be a resolution to this horrible conf lict,” he said.

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Germany aims for tougher China trade package By Kamil Kowalcze Bloomberg News

ERMANY plans to agree on a package of measures in the coming weeks to counter what it sees as unfair Chinese trade practices, Finance Minister Lars Klingbeil said after visiting a BMW plant in Spartanburg, South Carolina. A more critical stance toward China among German manufacturers has encouraged Chancellor Friedrich Merz’s government to take a tougher line, Klingbeil said. “You can see that there is currently a shift taking place in German industry as well, that people there are also taking a more critical view of China,” Klingbeil said. “I take that as encouragement to formulate our course toward China more clearly as well.” Merz’s government has sharpened its China policy in recent months and is seeking stronger safeguards for German industry. Berlin had previously been wary of tougher measures over concerns that Beijing could retaliate against key sectors with heavy China exposure, including the auto industry. That stance is now evolving, Klingbeil said. Germany isn’t seeking confrontation, he said.

However, “China is no longer playing by the rules, so we have to position ourselves differently.” Possible steps include requiring Chinese companies seeking access to the German or European market to enter joint ventures, imposing additional tariffs in areas, such as hybrid vehicles, and giving preference to goods made in Germany or elsewhere in Europe through so-called Buy European strategies, Klingbeil said. Measures agreed by the German government would then be pushed at the European Union level, he said. Klingbeil, who attended a meeting of Group of 20 finance ministers in Asheville, North Carolina this week, called on major economies to help stabilize geopolitical conditions to support growth, saying conflicts including tariff disputes and wars in Iran and Ukraine are “poison for economic development.” He also criticized the participation of Russia’s finance minister, as well as the Treasury’s decision not to accredit some journalists for the meeting. The Treasur y excluded journalists from several media outlets, including Bloomberg News and the Wall Street Journal, from coverage of this week’s G20 gathering.

Xi visits Egypt as China seeks deeper influence across the Mideast By Samy Magdy Associated Press

AIRO—On the surface, Chinese President Xi Jinping’s visit to Egypt this week is a run-of-the-mill opportunity for two countries to strengthen economic and diplomatic ties. But there is deep subtext to the meeting between Xi and Egyptian President Abdel Fattah el-Sissi: China, the United States’ top global rival, is cultivating an extensive relationship with one of America’s key allies in the Middle East as it moves to expand its influence in the rapidly changing region.

Xi aims to present China as a stabilizer in the region and contrast it with the United States, which for decades has been militarily entangled there—its six-month war with Iran being just the latest example. “China continues to build up its soft power reserves while the United States selfsabotages its own stock,” Amr Hamzawy, director of the Washington-based Carnegie Middle East Program, wrote in a paper earlier this year along with Kathryn Selfe, a former fellow at the program. See “Xi,” A11

TheWorld

Thursday, September 3, 2026 A11

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Iran fires on its Gulf neighbors after US military strikes By David Rising & Ben Finley

The Associated Press

UBAI, United Arab Emirates— An Iranian drone attack sparked a blaze in Kuwait City and Bahrain intercepted incoming drones, as Tehran fired on US allies in the Gulf early Wednesday following a night of American bombardment that Iranian officials say included a deadly strike on a wedding party.

The latest violence has ended a monthlong lull in fighting between the US and Iran and raised new questions about how to end a war that has led to a spike in oil prices, roiled the global economy and is posing increasing political problems for US President Donald Trump’s Republican Party ahead of November midterm elections. Fighting between the US and Iran has increased since the weekend after the American military hit Iranian rocket launchers on an island in the Strait of Hormuz, saying Iran was planning to use them to shoot mines into the waterway. Iran retaliated by firing missiles at American bases in Jordan, which were all intercepted.

US allies in the region fend off Iranian attacks

IRAN also fired drones at Kuwait

late Tuesday that were intercepted. On Monday, the United Arab Emirates said it had intercepted an incoming Iranian drone over its waters. Bahrain, which hosts an important US naval base, said its air defense systems intercepted incoming fire from Iran early Wednesday, accusing Iran of “attacks targeting civilians” in a statement issued by its military. Also on Wednesday, Kuwait’s gover nment communicat ions center said a fire broke out at a residential complex in the capital after it was hit by an Iranian drone at dawn. It said the blaze had been contained and there were no casualties. Elsewhere in the region, in Iraq where Iranian-backed proxy forces are active, Kurdistan’s Counter-Terrorism Directorate

said it had intercepted 10 drones laden with explosives in the Irbil area. Iranian television reported that American bases in Irbil had been targeted. Israel’s military also said that Iran-backed Hezbollah fired two explosive drones at its soldiers in southern Lebanon but there were no casualties. The US Central Command said Tuesday’s strikes focused on Iranian military targets including air defense sites, radar systems and maritime assets. One US strike hit a home hosting a wedding, according to Iranian media. At least five people were killed, including a child, and at least 68 were wounded, Iranian officials said. “Make no mistake: these crimes will not go unpunished,” Ebrahim Azizi, chairperson of the Iranian parliament’s National Security and Foreign Policy Committee, said on X. The US military said it was aware of the report but that it “never targets civilians.”

The Strait of Hormuz remains largely shut down

DURING last month’s lull in fighting, the US ramped up economic pressure on Iran, which is suffering from soaring inflation, negative growth and a collapsing currency, as Washington sought to win concessions to fully open the Strait of Hormuz to international shipping traffic. About a fifth of the world’s traded oil was shipped through the key waterway before Israel and the US attacked Iran on February 28 and Iran largely shut it down. Despite many

pronouncements from Washington that the strait is open, only a handful of ships are making the passage each day and Iran has regularly attacked vessels. On Wednesday, Saudi shipping company Bahri said two Filipino sailors were killed in an attack late Monday as their vessel transited the strait. Since the fighting resumed, the price of Brent crude oil, the international standard, climbed above $95, up more than 30 percent from the start of the war. In launching its latest attacks, US Central Command said it was responding to Tehran trying to hit commercial ships and American forces in the Middle East. Trump offered an additional explanation, telling Fox News in a phone call that US forces struck radar systems that Iran had been trying to rebuild. “We waited until it was almost built and then we hit it,” he said. Late Tuesday, Trump said he would not force Iran to the bargaining table. “I couldn’t care less if they sign a worthless, to them, agreement. I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing. They are just playing out the inevitable. When are the Iranian people going to rise up and fight?” Trump wrote on social media. Earlier, Trump had appeared to pivot toward trying to bend Iran to his will through economic sanctions. He warned that if Iran retaliated for the new strikes, “they will be hit again at a much harder and higher level.”

Euro-Zone inflation jumps to highest in almost 3 years By Mark Schroers Bloomberg News

URO-AREA inflation quickened to the highest level in almost three years, cementing the case for an interest-rate hike by the European Central Bank next week. Consumer prices rose 3.3 percent from a year ago in August, up from 2.9 percent the previous month, Eurostat said Tuesday. That’s the highest since September 2023 and in line with the median estimate in a Bloomberg survey. A core gauge, excluding volatile items like food and energy, unexpectedly edged down to 2.4 percent, however, while the

Xi. . . Continued from A10

Xi arrived Tuesday evening at the Cairo airport, which was adorned with Chinese and Egyptian flags. El-Sissi and military guards greeted him on the tarmac with a red-carpet ceremony. The leaders are scheduled to hold talks on Wednesday, and Xi plans to visit the Grand Egyptian Museum, near the pyramids of Giza.

It has been a while since Xi has visited the Mideast

Xi will be in Egypt for three days. It is his first visit there in a decade, and his first trip to the region since visiting Saudi Arabia in 2022. El-Sissi has visited China multiple times in recent years. The leaders marked 70 years of diplomatic ties by publishing friendly opinion pieces Tuesday in Egypt’s state-run newspapers. Xi wrote that Beijing and Cairo should “expand the scope of pragmatic collaboration” through development. El-Sissi lauded China’s investments in Egypt and reiterated Cairo’s support of China’s claim that Taiwan is part of its territory.

closely watched services gauge fell to 3 percent. With the Iran war keeping inflation well above the 2% goal and the euro-zone economy proving surprisingly robust, investors are betting the ECB is about to add to June’s initial increase in borrowing costs. Another quarter-point hike on September 10 is now fully priced by markets, which reckon more will follow.. “The sharp rise in headline inflation contrasts with a drop in underlying measures of price increases. That divergence supports our view that the ECB is unlikely to tighten by as much as financial markets are currently pricing in. A cooling labor market should limit the pass-through of

higher commodity prices into goods and services inflation more broadly, although a more persistent energy shock could still put another hike—potentially in December— on the table,” said David Powell, senior euro-area economist Executive Board member Isabel Schnabel told Bloomberg last week that borrowing costs must rise further to bring price gains back to target. Other policymakers have expressed similar thoughts. “Upside risks to inflation have increased again recently,” Austrian central-bank chief Martin Kocher said Tuesday. “If this picture is confirmed in the ECB’s new forecast, I believe another interest-rate hike will be necessary in the near future.”

Elevated oil and gas prices are feeding inflation pressure across the 21-nation euro area. Separate data Tuesday showed a sharp increase in Italy to 3.2 percent from 2.9 percent, while figures published last week revealed a jump in Spain’s reading to 4.5 percent. The bloc’s top two economies, Germany and France, both recorded accelerations in August. A hike next week would lock in the ECB’s status as the most hawkish central bank within the Group of Seven. Others may be preparing to follow suit, however. Despite not signaling explicit support for a move, Federal Reserve Chairman Kevin Warsh said last week that curbing inflation is the top priority.

Egypt views its growing relationship with China as a way to diversify its strategic partnerships. In 2023, Egypt was invited to join the BRICS bloc of nations, a grouping of major emerging economies that includes Brazil, Russia, India, China and South Africa and is seen as a counterbalance to Western-led institutions such as the G7. A year later, Egypt signed agreements with China to collaborate on its Belt and Road Initiative, a signature policy of Xi’s that seeks to build power and transportation infrastructure around the world. China has invested more than $10 billion in Egypt, building a business hub east of the capital, Cairo, and an electric rail line for industry in the Nile Delta. Annual trade between the two countries is estimated at $20 billion, according to government figures. Trade between the US and Egypt was $15.7 billion in 2025. Egypt is a crucial partner in US national security priorities in the region, and the countries’ leaders enjoy close ties.

most important regional ally and oil supplier—and Saudi Arabia, a longtime US ally. The agreement showcased China’s aspirations to compete with the United States for influence in the Mideast. Since then, ties between Riyadh and Tehran have frayed. Iran attacked Saudi Arabia and other Gulf countries as part of its retaliation against the US and Israel, which launched the war on February 28. China has cast itself as a regional mediator in other ways. It has long advocated a two-state solution to the Israeli-Palestinian conflict, which is seen by the Arab world as a linchpin to regional stability. Shortly before Hamas militants attacked Israel in 2023 and launched the war in Gaza, Xi had hosted Palestinian President Mahmoud Abbas and announced a“strategic partnership” with the Palestinian Authority.

with the country that controls the route still open,” said Muhammad Zulfikar Rakhmat, a Middle East expert with Jakarta’s Center of Economic and Law Studies. Xi views Egypt “as a base to reach the wider Arab and African world, at a time when the US has less attention to spare there,” said Rakhmat. In August, China and Egypt held a multiday air exercise at several bases across Egypt—the first-ever combat exercise for China’s J-16 fighter jets and Egypt’s French-made Rafale fighters. Xi is visiting Cairo after attending a twoday conference of the 10-nation Shanghai Cooperation Organization, a political and security group billed as a counterweight to US global influence. The leaders of Russia, India, Pakistan and Iran attended the conference in Kyrgyzstan’s capital, Bishkek. The trip also comes on the heels of the Trump administration’s “economic onslaught” on Iran’s financial connections around the world. The sanctions aim to isolate the Islamic Republic from its remaining economic partners, including China, which buys more than 80 percent of Iranian oil shipments, usually through indirect channels.

China has been trying to build bridges between Mideast nations

IN 2023, Beijing brokered a deal to reestablish diplomatic ties between Iran—its

The Suez Canal, vital alternative to the Strait of Hormuz

With oil shipments through the Strait of Hormuz heavily disrupted by the Iran war, the Suez Canal—which is controlled by Egypt—has become an important alternative path for getting energy supplies out of the region. “China has good reason to strengthen ties

Editor: Jennifer A. Ng • www.businessmirror.com.ph

A12 Thursday, September 3 2026

Govt seeks ₧69.9B for 3 rice programs Reine Juvierre S. Alberto

@reine_alberto

HE government is proposing a total of P69.9 billion for three major rice programs for next year in its bid to boost local production of the country’s staple food and make rice prices affordable. Under t he proposed P7.2trillion National Expenditure Program, the government has earmarked P29.9 billion for the National Rice Program, one of the Department of Agriculture’s banner programs. T he proposed budget w i l l bankroll the provision of quality seeds, farm inputs, extension services and modern pro-

duction technologies to improve rice farmers’ productivity and incomes. Another P30 billion is allocated for the Rice Competitiveness Enhancement Fund (RCEF). Of the amount, P9 billion will be used for rice farm machinery and equipment through the Philippine Center for Postharvest Development and Mechanization.

Meanwhile, P6 billion w ill f und r ice seed development, pro p a g at ion a nd promot ion through the Philippine Rice Research Institute. The remaining P15 billion will finance other priority programs, including rice training and extension services, financial assistance and credit programs for farmers, composting facilities, irrigation and soil health improvement, pest and disease management and farming support programs under the contract farming program. The annual Rice Competitiveness Enhancement Program (Rcef) allocation was increased threefold from P10 billion to P30 billion under Republic Act 12078, which extended the fund until 2031. The fund is sourced from tariffs collected from rice imports. Moreover, the government is seeking P10 billion for the Rice for All Program, which aims to

make affordable rice available to consumers through Kadiwa Centers and other accredited facilities nationwide. Budget Secretary Kim Robert C. de Leon said the proposed budget forms part of the administration’s food security agenda, which puts greater productivity and better livelihoods for farmers and fishermen at the center of the country’s efforts to secure its food supply. “For agriculture and food security, P261.7 billion is proposed across the agriculture sector, supporting programs that increase productivity, strengthen food security, and improve the incomes of our farmers and fisherfolk,” De Leon said. As the government seeks to achieve zero hunger by 2030, the proposed budget is intended to strengthen both production and consumer access to rice.

DA, DOE find ways to increase biofuels production

carefully, and there is potential for them to help bring down gasoline prices.” Tiu Laurel said. This comes as domestic feedstock has historically cost higher than imported supplies, while locally produced bioethanol prices are double that of imported bioethanol, according to the DA. As such, every increase in feedstock costs translates to roughly P1 per liter increase in ethanol prices. With locally-produced corn emerging as the leading alternative feedstock to complement molasses and sugarcane juice, the DA is studying ways to boost corn output through better seeds, mechanization, and contract farming. The agency explained that corn

Albay solon pushes cacao production

First anti-ASF vaccine goes on sale

S the Philippines seeks to expand high-value agriculture and create more income opportunities in rural communities, the chairman of the House Committee on Food Security is pushing for a measure to unlock the country’s cacao industry potential by transforming local production into a competitive agribusiness sector. Albay Rep. Raymond Adrian E. Salceda said his House Bill 4219 is not merely an agricultural initiative but an economic development strategy that can increase farmer incomes, expand rural enterprises, attract investments, generate jobs, and strengthen the Philippines’ position in the global cacao market through a more integrated value chain. Salceda said the success of the measure will depend on building a coordinated system where farmers, processors, entrepreneurs, investors, research institutions, and government agencies work together. “By strengthening the entire cacao value chain, the benefits will extend beyond farmers. This will also create opportunities for processors, manufacturers, logistics providers, small businesses, entrepreneurs, and communities that will become part of the industry’s growth,” he added. HB 4219 seeks to declare cacao development as a priority program for Bicol regional economic development and establish the Bicol Cacao Development Program Office under the Department of Agriculture Regional Field Office V. The proposed office will serve as the regional coordinating body for cacao development initiatives, including production expansion, research and development, processing, market access, investment promotion, and value-chain development. Jovee Marie N. Dela Cruz

HE domestic livestock industry can heave a sigh of relief following the commercialization of the vaccine against African swine fever (ASF), with the government keen on subsidizing the inoculation for backyard raisers. The Bureau of Animal Industry (BAI) has approved the commercial sale of Avac ASF LIVE, the first ASF vaccine for fatteners cleared for public sale. This moves away from the government-controlled vaccination that the Department of Agriculture (DA) launched in 2024. Agriculture Secretary Francisco Tiu Laurel Jr. said this would provide the hog industry a new weapon against the deadly hog disease as the government races to rebuild swine herds. “The availability of a commercially approved ASF vaccine is crucial to our repopulation program,” Tiu Laurel said. “It gives hog raisers another tool to protect healthy animals as we work to rebuild the industry and secure a more stable supply of pork,” he added. In addition, Agriculture Undersecretary Constante Palabrica asked the DA chief for P1 billion next year to subsidize ASF vaccination programs for backyard pig farms, making it more accessible to smaller producers. Developed by Avac Vietnam Joint Stock Company, the Avac

can be harvested within 90 to 110 days, enabling supply to respond to increased demand. In addition, it added that corn used for bioethanol will still have dried distillers grains with solubles (DDGS) as a byproduct which feed manufacturers can use as a high protein source. At present, sugarcane byproducts supply the majority of local ethanol production. Local ethanol production is estimated at 325 million to 385 million liters annually using sugarcane derived feedstock, while existing plants have a capacity exceeding 500 million liters. To protect the sugarcane industry, officials said only the unused capacity could be sourced from

corn, which would accommodate additional production without displacing existing agricultural output. Despite this, the DA warned against creating another price problem since higher demand from ethanol producers could raise corn prices for livestock raisers, who rely on the crop for animal feed. Tiu Laurel said palm oil could provide another long-term feedstock for biodiesel and even aviation fuel, although plantations would take about three years to mature. The government is also finalizing a Philippine National Standard (PNS) for bioethanol, with the draft now undergoing public consultation. Ada Pelonia

HE Department of Agriculture (DA) and Department of Energy (DOE) are seeking alternative feedstock to expand domestic ethanol output as part of government efforts to slash reliance on imported fossil fuels. Agriculture Secretary Francisco Tiu Laurel Jr. and Energy Secretary Sharon Garin explored initiatives to bring down feedstock costs and maximize idle distillery capacity, aimed at increasing the country’s ethanol blend to 15 percent from the current 10 percent. The options to hike ethanol production include molasses and sugarcane juice from the sugar industry, as well as locally produced corn. “We are studying these options

ASF LIVE is a live, attenuated, gene-deleted freeze-dried vaccine designed to protect pigs against the ASF virus. Its approval comes nearly seven years after ASF first hit the Philippines in 2019, which reduced national hog population to around million million heads from 13 million before the outbreak. Meanwhile, Palabrica said a second vaccine, Provac from South Korea, is undergoing BAI testing. This provides hog raisers another option to combat the virus that has repeatedly battered local pork production, especially during the rainy season. The government is positioning vaccination as part of a broader repopulation strategy that includes disease surveillance, biosecurity, movement control, and targeted restocking. The goal is to restore the swine population to pre-ASF outbreak level, it added. “The stakes extend beyond farmers. The collapse of the local hog herd has contributed to supply gaps and greater reliance on pork imports, while recurring outbreaks continue to threaten domestic production.” “Rebuilding the herd means more than reviving farm incomes. A healthier and larger local swine population could provide a steadier pork supply and eventually help ease price pressures for consumers.”

BAI reported that ASF outbreaks in the country have reached 76 of 82 provinces.

Long-overdue

FOR agriculture group Sinag, the commercialization of the ASF vaccine is a welcome and long-overdue development for local hog raisers, particularly backyard farmers who have suffered the consequences of the deadly hog disease. “The commercial approval of the vaccine should therefore be treated not merely as a regulatory milestone, but as an important component of the country’s broader strategy to control ASF, rebuild the local hog population, and restore domestic pork production.” With this, Sinag called on the government to subsidize the vaccination against ASF virus. “We therefore urge the government to immediately establish a free or heavily subsidized ASF vaccination program for backyard hog raisers, coupled with a sustained repopulation program and stronger biosecurity support.” The group added that farmers have already “paid a tremendous price” for the ASF crisis, with many losing their entire herds and investment. “Free ASF vaccination for backyard raisers is an investment in domestic food production, food security and reducing our dependence on imported pork.” Ada Pelonia

Raw sugar export to US in 2027 hangs By Ada Pelonia @adapelonia

HE Sugar Regulatory Administration (SRA) is uncertain whether the Philippines can export raw sugar in 2027 to fulfill the allocation it received from the United States under the quota program. SRA Administrator Pablo Luis Azcona said the agency is currently “noncommittal” on the export of raw sugar to the US next year owing to compounding factors that battered the industry, such as weather disturbances and the continued infestation of red-striped soft scale insects (RSSI). “Due to the floods that we had in Negros last year, then the dry spell and the RSSI, I’m not sure whether we will export and to what amount as of now,” Azcona told reporters on the sidelines of the Department of Agriculture’s budget deliberations at the House of Representatives on Tuesday. “We need to look at the start of milling [season] to confirm if our yield estimates will materialize. So, we’re a bit noncommittal for now,” he added. Despite this, Azcona said the agency will announce its official decision when the milling season for crop year 2026-2027 begins on October 1.

“The exports to the US were a big help when we had a lot of raw sugar. But now, we’re expecting a drop in production. So, we may have to make a decision […] once the milling starts,” he said. The Philippines secured a sugar allocation of 145,235 metric tons raw value (MTRV) for fiscal year 2027, the fourth straight year it has received the same quota under Washington’s import program. The US Trade Representative (USTR) announced the in-quota allocations under the TRQ on imported raw cane sugar for FY 2027, which will begin on October 1. Under the TRQ system, countries are allowed to export specified quantities of a product to the US at a relatively low tariff. The Philippines received the second-largest allocation after the Dominican Republic’s 189,343 MTRV, with Brazil trailing behind at 100,000 MTRV. L atest d at a f rom t he SR A showed t hat t he Ph i l ippines e x por ted 99,038 met r ic tons (M T ) in t he c u r rent crop yea r, wh ic h is t he h ighest level re corded since the countr y again e x por ted raw suga r to t he US in crop yea r 2023 -2024. The country skipped exports of the commodity to the US for the previous two crop years owing to shortfalls in domestic output.

War, weather push crop prices

ROP prices capped their biggest monthly jump in more than a decade as wars and extreme weather disrupt supplies, raising concerns about food inflation. The Bloomberg Agriculture Spot Index, which tracks 10 major products, rose more than 13 percent in August, the steepest gain since July 2012. Wheat has been one of the biggest drivers, with prices recently reaching a three-year high as Black Sea port attacks slash shipments from a major growing region. Sugar and cocoa were up more than 20 percent as a strengthening El Niño fuels weather worries. While it can take time for pricier crops to feed through to supermarket shelves, the gains come on top of rising energy and transport bills driven by the war in Iran. That’s fueling worries about the cost of everyday pantry staples from bread to meat and dairy. For wheat, grain exports from Ukraine and Russia have slowed as both sides strike each other’s ships and ports. Russia is also preparing to escalate attacks after concluding that negotiations for a peace deal have reached a dead end, Bloomberg reported last week. “The Ukraine government is purchasing large supplies of silo bags, while Russia is looking at huge rail subsidies to reroute a modest portion of its grain exports to the Baltic, reflecting both countries’ expectation that the war on grain will persist,” AgResource Co. said in a note. Together, the two nations account for more than a quarter of the world’s wheat exports, as well as large amounts of barley, corn and sunflower oil. That’s leaving few obvious options to fill the gap, Lachstock Consulting said in a Monday note. Unsold grain is piling up, and Ukraine’s agriculture ministry

expects farmers to plant less winter wheat for the 2027 season. “Argentine quality is questionable, Canada has limits, Australia has export capacity constraints and US wheat is increasingly the expensive residual supplier,” Lachstock said. “Unless Black Sea exports begin flowing again, the market increasingly looks to be dealing with a multi-season supply issue rather than a short-term logistics problem.” Turkish Foreign Minister Hakan Fidan said Monday that Turkey is working for a Black Sea deal. While Fidan’s comments, along with endof-month profit-taking, helped pressure wheat futures to fall as much as 3.6 percent—the most in a month—the easing did little to dent August’s rally. Poor weather has been an additional headache, with US and European corn harvests both hit by summer heat waves. A powerful El Niño is also set to pose risks to crops into next year. That has boosted commodities like cocoa, with concerns over how the weather phenomenon will impact crop development in the top growing region of West Africa. New York sugar futures gained more than 20 percent in August, the biggest gain since 2010, as major producer India faces tight stockpiles just as demand climbs for the festival season. The government recently took the rare step of allowing some duty-free imports in an effort to curb prices. Renewed tensions in the Middle East are also reviving worries about fuel and fertilizer flows, vital inputs for the world’s farmers. The US struck Iranian rocket launchers over the weekend, its first military action against the country in weeks. Bloomberg News

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‘A.I. IS REWRITING THE RULES OF APAC’S DIGITAL DIVIDE’ By Bless Aubrey Ogerio

HE next digital divide in Asia and the Pacific may have little to do with who can get online and more to do with what countries can actually do once they are connected. The warning comes as artificial intelligence (AI) reshapes the region’s digital infrastructure, increasing the need for faster networks, computing capacity and systems that can process data and support real-time decisions. The United Nations Economic and Social Commission for Asia and the Pacific’s (Escap) newly-released Asia-Pacific Digital Transformation Report 2026 found that the region’s average Digital Transformation Index (DTI) score reached 50.28. It was slightly above the global average of 49.63, yet digital development outcomes in high-income economies were nearly four times higher than in low-income economies. The gap raises concerns that AI could widen existing disparities if countries with weaker digital infrastructure and institutional capacity are unable to keep pace with the technology. “Ensuring that AI-native network infrastructure benefits all economies of the region, rather than deepening existing inequalities, will require deliberate and coordinated policy action by Governments individually and through regional cooperation,” United Nations Under-SecretaryGeneral and Escap Executive Secretary Armida Salsiah Alisjahbana said. According to the report, the convergence

of AI, advanced networks, computing and data is changing digital infrastructure from systems that primarily carry information into ones that can analyze it and support real-time decision-making. That could have practical consequences in areas such as disaster response and public services. The report, for instance, cites SatGPT’s ability to generate floodprone maps from simple prompts and highlights applications of AI in early warning systems. AI-enabled systems could also be used in transport, energy and other critical services, but their adoption depends on more than internet connectivity. Escap identified continuing gaps in innovation capacity and institutional conditions across the region. These disparities are now part of discussions on the next phase of regional digital cooperation. Ministers and senior officials are meeting over three days at the Escap Committee on Information and Communications Technology, Science, Technology and Innovation to discuss the Asia-Pacific Information Superhighway action plan for 2027-2030. The proposed plan includes measures to strengthen resilient and cross-border digital infrastructure, improve public services through emerging technologies, facilitate the sharing of digital solutions and develop secure and trusted data systems. It also calls for targeted support and knowledge-sharing for countries and communities facing the greatest barriers to adopting new technologies. The report was launched at the opening of the committee meeting.

Thursday, September 3, 2026 A13

Nlex users to get toll rebate as floods plague Pampanga

By Lorenz S. Marasigan

OTORISTS using the San Fernando–Pulilan stretch of the North Luzon Expressway (Nlex) will receive a toll rebate on both northbound and southbound passages beginning noon of September 2, as the tollway operator moves to ease the burden on travelers caught in flooding that has snarled traffic across Pampanga.

The rebate will run until all lanes in the affected stretch are passable to all vehicle classes, Nlex Corp. said, with credits applied directly to a motorist’s radio frequency identification (RFID) account the day after the toll passage. Non-RFID users were urged to have the device installed to qualify for the rebate and ensure seamless transactions. The relief supplements the toll-free passage Nlex has extended to provincial buses since August 2026, part of the operator’s continuing effort to support public transport. Regular toll for the Pulilan–San Fernando route is P113 for Class 1 vehicles, P281 for Class 2, and P338 for Class 3.

The flooding stems from continuous Habagat, or southwest monsoon, rains that raised water levels at the Pampanga River, whose overflow inundated San Simon and Tulaoc and overwhelmed the area’s capacity to discharge excess water. The congestion has been concentrated at the Tulaoc Bridge in San Simon. The rebate was arranged directly between the government and the operator. Transportation Secretary Giovanni Lopez said he personally reached out to Nlex Corp. President Luis Reñon to waive tolls along the corridor. Beyond the immediate relief, the Department of Transportation (DOTr), through the Toll

Regulatory Board (TRB), has directed Nlex Corporation to put in place a faster warning system for motorists during heavy rains and flooding, including direct SMS or text messages and other accessible platforms. Lopez said toll operators must anticipate flood-prone areas and alert drivers before conditions deteriorate. “Our toll operator must be proactive.Let’s anticipate the spots that must be closely ttracked during heavy rain, so mtorists can be quickly alerted which parts of the expressway are flooded por impassable, and must be avoided,” he said. The operator was ordered to issue advisories and rerouting options through variable message signs (VMS), portable VMS, and other channels three hours before expected rainfall and closures. The TRB has also served Nlex Corporation a Notice to Explain (NTE) dated August 31, 2026, requiring it to account within three days for the flood-induced congestion and to propose measures to mitigate the impact and prevent a recurrence. In a separate letter on the same date, the operator was directed to consider reimbursing the toll fees of Class 1 motorists forced to make a U-turn along the expressway because of the flooding. The DOTr and TRB likewise ordered Nlex to provide food and water and to set up portable toilets for motorists stranded in the

heavy traffic. Nlex said it has mobilized emergency, maintenance, traffic management, engineering, and customer service teams, along with pumping equipment and sandbags, to manage water accumulation and assist motorists. It is coordinating with the DOTr, the Department of Public Works and Highways (DPWH), the Metropolitan Manila Development Authority (MMDA), the Northern Luzon Command (NOLCOM), the Philippine Coast Guard (PCG), and Pampanga’s local and provincial governments on the response. The measures build on Metro Pacific Tollways Corp.’s (MPTC) announcement on Tuesday that it will raise the northbound and southbound pavements in Tulaoc, San Simon, once the Tulaoc Bridge elevation is completed—a permanent fix to flooding that Pampanga Gov. Lilia Pineda has attributed to a broader provincial drainage problem, with downstream areas like Macabebe and Masantol already full and unable to discharge water toward Manila Bay.

Palace: Free toll

MALACAÑANG announced free toll for a certain section of the NLEx to assist motorists, who were affected by traffic congestion after its part in San Simon, Pampanga became flooded during the weekend due to the heavy rainfall caused by the Southwest Monsoon. See “Floods,” A2

PBBM visits lahar-stricken village in Zambales Senate OKs bill

barring officials’ kin from gov’t contracts By Butch Fernandez

PRESIDENT Marcos crosses a footbridge across the lahar-filled Sto. Tomas River in Sta. Fe, San Marcelino, Zambales, on Wednesday, September 2, 2026, to visit residents isolated by lahar and mudflows. TAKTIKOM PHOTO

By Henry Empeño

AN MARCELINO, Zambales—President Ferdinand Marcos Jr. dropped by at the lahar-stricken village of Sta. Fe here on Wednesday, September 2, buoying residents’ hope for continuous government assistance on their fourth week of isolation due to lahar and mudflows that inundated the barangay. Marcos flew into Zambales after conducting an aerial inspection of flood-hit areas in Tarlac with Public Works Secretary Vince Dizon. The President was joined by Dizon, Social Welfare Secretary Rex Gatchalian, Education Secretary Sonny Angara, Governor Hermogenes Ebdane Jr., Zambales congressional representatives Jay Khonghun and Doris Maniquiz, and San Marcelino Mayor Elvis Soria. Meanwhile, the Department of Public Works and Highways (DPWH) ordered the immediate inspection of every national bridge in the country, directing engineers to impose traffic restrictions or carry out emergency works on any span found at risk of failing under the continuous rains of the southwest monsoon.

The directive, contained in a memorandum dated September 1, 2026 and signed by Secretary Dizon, was issued to all regional directors and district engineers days after two bridges in Tarlac City gave way to swollen river currents. Field offices were told to prioritize structures showing significant scouring, exposed or undermined foundations, affected abutments, and “other signs of distress that may compromise structural stability or lead to possible collapse,” according to the memorandum. District engineers were also instructed to undertake “immediate and appropriate measures on bridges found to be at risk,” including traffic restrictions, emergency protection works, repairs and other interventions “as may be warranted, to ensure public safety and prevent further deterioration or damage.” Results must be submitted electronically within 15 days of issuance—or by September 16—through a centralized link, using a prescribed template the order lands amid one of the most damaging monsoon seasons in recent years. A portion of the Aquino Bridge in Tarlac City collapsed on August 28, followed the next

night by the Agana Bridge in Barangay Tibag, prompting the provincial board to place Tarlac under a state of calamity through Resolution No. 416-2026. The Philippine Coast Guard has recovered the body of one of five people aboard a vehicle that plunged into the Tarlac River when the Agana Bridge partially gave way. As of August 30, the combined effects of successive weather disturbances and the enhanced habagat had left 31 dead, with infrastructure damage estimated at no less than P6 billion and agricultural losses at P2.3 billion. At least 117 cities and towns were under a state of calamity. Dizon said President Ferdinand R. Marcos Jr. had ordered the agency to restore connectivity in the worst-hit provinces. The DPWH has begun assembling a temporary Bailey bridge at the Agana site.

Isolated in Zambales

IN Sta. Fe, Zambales, around 1,000 families were isolated after strong river current from the Sto. Tomas-Marella River swept away the bridge leading to the barangay on August 9.

They received family food packs from the Department of Social Welfare and Development (DSWD) during the President’s Wednesday visit. The food packs were flown into Sta. Fe from Clark Air Base in Pampanga by the Philippine Air Force the day before. DSWD Secretary Gatchalian, who arrived in Sta. Fe prior to the President’s visit, assured the community of continuous resupply of food items and other basic needs from the government and said qualified residents may receive financial help under the DSWD’s Assistance to Individuals in Crisis Situation (AICS) program. Sta. Fe, located along the Sto. Tomas lahar field, has borne the brunt of lahar and mudflows from the slopes of Mount Pinatubo, which flooded homes, schoolhouses and public facilities in the barangay. Mayor Soria said the local government unit had to ferry food and other basic items across the swollen river via backhoes before a temporary wooden footbridge was built to access the village. Gov. Ebdane said the provincial government is See “Village,” A2

BILL barring relatives of covered public officials and personnel within the fourth civil degree of consanguinity or affinity from participating in government contracts has hurdled third and final reading approval at the Senate. Senate Bill No. 1962 under Committee Report No. 44, or the Government Contracting and Procurement Integrity Act, was approved during the chamber’s plenary session on Wednesday, September 2, 2026, with 15 affirmative votes, zero negative vote, and zero abstention. The proposed measure covers government contracts involving supplies, materials, machinery, equipment and services, infrastructure projects, joint ventures, publicprivate partnership projects, and other similar agreements involving government funds or property. Under the bill, disqualified relatives would also be prohibited from participating in subcontracting, consortiums, joint ventures, or similar business arrangements for the performance of government contracts. “Enacting this measure will help put an end to the systemic gaming of procurement rules for the ben-

Peso…

Continued from A2

Within the trading session on Wednesday, the peso hit an intraday low of P62.69 against the dollar while its strongest point was seen at P62.4 against the greenback.

Global factors

RIVERA said the peso’s drop to a new record low “reflects a combination of strong external pressures.” “Renewed Middle East tensions have pushed oil prices higher and increased demand for safe-haven dollar assets, while elevated US Treasury yields have made dollar-

efit of a favored few and their families. It removes temptation, shuts the side door, and makes it clear that government contracts are not a family affair,” said Sen. Francis “Chiz” Escudero, sponsor of the bill. “In other words, it narrows the discretion that enables corruption. Because if you minimize discretion, you minimize corruption. And when you eliminate the discretion to favor relatives and kin, you strike at corruption at its source, and help ensure that public procurement truly serves the public good,” he added. Under the proposed measure, private entities participating in government procurement must submit a sworn affidavit. It must state that the company—including its officers, board members, and beneficial owners—is not related to the covered public officials within the prohibited degree. As stated in the bill, violators may face imprisonment of one to three years, a fine of at least P100,000, and perpetual disqualification from participating in government procurement activities. On the other hand, responsible public officials may likewise face imprisonment, a fine of at least P100,000, and perpetual disqualification from public office.

denominated assets more attractive. The fact that other Asian currencies have also weakened indicates that this is not solely a Philippine-specific development,” added Rivera. He said the peso may remain volatile and under pressure in the near term, particularly if oil prices remain elevated, geopolitical tensions persist, and US financial conditions stay tight. For his part, Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., also noted: “The USD/PHP weakened to 62.565 as safehaven demand lifted the greenback after oil prices rose amid renewed Middle East tensions.” “Expect the peso to remain under pressure and trade within the 62.300-62.750 range in the near term,” added Ravelas.

A14 Thursday, September 3, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Textbook ‘breakthrough’ that exposes a decade of educational neglect

HE Department of Education’s recent announcement that it has finally—finally—secured all 105 required textbook titles for public schools should be cause for quiet satisfaction. Instead, it serves as a damning indictment of just how far the country has allowed its educational infrastructure to crumble. When the procurement of basic learning materials becomes headline news, we must confront an uncomfortable truth: we have normalized failure to such a degree that competence now looks like revolution. (Read the BusinessMirror story—“DepEd’s textbook revolution: 105 titles procured, zero delays,” August 26, 2026).

Let us be clear about what Education Secretary Juan Edgardo Angara has accomplished. In a single year, the DepEd procured nearly four times the total number of textbook titles secured across the entire preceding decade. Between 2014 and 2023, the agency managed to deliver only 27 out of 88 required titles—a pathetic 31 percent completion rate that left generations of students sharing tattered, outdated books or learning from photocopied pages. The new policy framework, anchored by DepEd Order No. 008, has compressed a three-year procurement nightmare into a streamlined process with strict timelines and transparent evaluation. This is undeniably progress. But we must resist the urge to celebrate. The fact that we are celebrating the procurement of textbooks—the absolute baseline of educational infrastructure—reveals how catastrophically low we have set our expectations. Textbooks are not innovation. They are not reform. They are the floor, not the ceiling, of what a functional education system provides. In any developed nation, this would be routine administrative work, worthy of a line item in a quarterly report, not a press conference with triumphant rhetoric about “restoration of service.” The cost of this decade of dysfunction cannot be calculated merely in pesos or procurement statistics. It is measured in the millions of students who sat in classrooms without proper materials, in the teachers who improvised lessons from memory or photocopies, and in the country’s persistent humiliation at the bottom of international assessments like PISA. While other nations debated pedagogical innovations and digital integration, the Philippines was still struggling to put paper books into children’s hands. Secretary Angara’s acknowledgment that “27 titles in a decade is your baseline” is refreshingly candid, but it should also infuriate citizens. How did we accept this for so long? How did three-year procurement cycles for single titles become standard operating procedure? The EDCOM II findings exposed systemic bottlenecks that were obvious to anyone who cared to look—redundant review cycles, opaque evaluation processes, and a bureaucracy more concerned with procedure than outcomes. That these obstacles required a complete policy overhaul in 2025, rather than incremental fixes years ago, speaks to a failure of political will across multiple administrations. Textbooks alone won’t reverse the country’s educational decline. PISA points to deeper issues—widespread poverty that keeps children out of school, an overloaded curriculum focused on quantity over comprehension, and resource gaps beyond printed materials, including teacher training, classroom infrastructure, and digital connectivity. Textbooks are necessary but insufficient: they’re the starting line, not the finish. So yes, let us acknowledge that the DepEd has done what should have been done years ago. Let us recognize that political will, when properly directed, can dismantle bureaucratic inertia. But let us not confuse remediation with achievement. The Philippines is not yet an educational success story—we are merely a nation that has stopped sabotaging its own students. The real test begins now: Can we maintain this momentum? Can we extend this efficiency to other neglected corners of the system? Can we finally build an education sector where the delivery of basic resources is so routine it never makes the news again? Our students deserve an education system that does not treat textbooks as headline-worthy breakthroughs, but as the bare minimum they are entitled to. After 10 years of failure, we should demand nothing less.

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Nobody forced this losing position John Mangun

OUTSIDE THE BOX

HE Germans have a word for it. Zugzwang is a term describing a situation in chess and other turn-based games (like government policy) where a player must make a move. Yet every available move worsens their position with different degrees of loss. China’s current economic data reads like a position under zugzwang. Industrial production slowed in July. Retail sales barely grew. Wind Economic Database on the monthly split show retail services sales growth dropping to about 3.2 percent in July from above 6 percent in January. Goldman Sachs’ early-Q3 estimate of roughly 4 percent would, if sustained, represent China’s weakest quarterly growth rate in the past decade outside the pandemic period. July’s slowdown is more troubling than April’s because it began from a weaker base and struck sectors that had looked resilient. President Xi Jinping arrives at his September meeting with President Trump holding a poor hand. Beijing was never forced into zugzwang. In July only 17 of 70 major cities recorded new home price increases. China’s property market has fallen since mid-2021, with national

new-home prices down year-on-year since April 2022, per National Bureau of Statistics (NBS) data. Meanwhile, Beijing had two paths open to it. One was repair: a large, direct fiscal push to recapitalize developers, backstop household mortgages, and absorb unsold housing. The other choice was timid restraint: smaller rate cuts and targeted local support, sized to avoid overloading the central government’s balance sheet but not sized to clear the inventory or restore confidence. Beijing chose restraint, and the bill has been coming due in installments ever since. The clearest sign of that choice shows up in the “credit impulse,” an indicator tracking not how much credit exists but how fast new credit is accelerating relative to the size of the economy. A rising credit impulse means new lending is accelerating and should show up in growth within six to 12 months. China’s has rolled

over from a solidly positive reading to a negative one, meaning the fuel that precedes recovery has been cut, not added. China’s 10-year government bond yield has fallen since February while yields in the US, Germany, and Japan have all risen. If Beijing expected a real recovery this fall, yields would be rising in China too. Every move available to Beijing carried a cost the leadership judged worse than the one it chose. A larger stimulus meant more debt on a balance sheet already strained. A weaker yuan meant capital flight risk. Opening the credit taps further meant repeating the excesses of 2015. Beijing picked the least uncomfortable weakness and walked into it deliberately, selecting a losing position from a menu of choices, all of them survivable but with varying degrees of pain. China’s problem is that earlier policy choices have reduced the number of painless choices available now. The Philippines plays a smaller board but makes the same kind of selection. A stock exchange kept thin, with the country’s biggest exporters absent from it, was not a forced move. It is a preference for concentration among a handful of conglomerates over the harder work of building listing pipelines and enforcing free float. The Philippines’ manufacturing base was never developed. Instead it was offset by remittances from citizens who left because the jobs were never built here. It was decades of choosing the path that required less pain today

over the one that offered “more pain, more gain” for tomorrow. China and the Philippines are not facing the same economic problem. They share a deeper one: past policy choices have narrowed what’s left. Xi Jinping is due in Washington around September 24, his first visit since Trump returned to office. The trade truce the two sides struck in Busan last year expires in November, so whatever gets settled in September carries a deadline behind it. Tariff levels, export controls on rare earths and semiconductors, and the broader trade relationship remain unresolved despite a May 2026 agreement. The two sides did establish a “Board of Trade” to formalize it. Xi does not walk into September with a weak economic hand by accident. A government willing to let a property slump run for years rather than repair it in one shot is a government built to accept unfavorable terms at a negotiating table rather than fight hard to reverse them. What Beijing is playing in September is closer to a poker player checking with a weak hand, betting that the other side blinks first. Trump has spent years in constant trade battles. Xi has been battling with his own economy. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Gautam Kaji: A friend who cared enough to tell us the truth By Richard J. Gordon

AUTAM KAJI, former Vice President of the World Bank for East Asia and the Pacific, was more than one of the world’s respected development leaders. He was a close adviser and a true friend of Subic and the Philippines at a time when we were trying to prove that Filipinos could transform a former American naval base into a world-class economic center. He gave Subic his full support. At a time when we had to convince the world that this new experiment could work, Gautam and the World Bank gave us something equally valuable: credibility. He understood what we were trying to build and believed that, given the right conditions, Subic could become a catalyst for investment and growth far beyond its gates. With his passing, I remembered a remarkable letter he wrote to President Fidel V. Ramos more than three decades ago (33 years ago), when he was serving as the World Bank’s Vice President for East Asia and the Pacific. It was unsolicited and remarkably frank, but never insulting. It was the advice of a man who knew the Philippines intimately and cared enough about our country to say what needed to be said. Gautam offered President Ramos

five essential prescriptions: maintain macroeconomic discipline; provide a stable, consistent and predictable environment for investment; ensure the success of Subic; reverse the stagnation of Philippine agriculture; and use the government’s political capital decisively while the opportunity for reform remained open. His warning on Subic was particularly telling. Gautam saw its infrastructure, its skilled and dedicated workforce and, in his words, its “dynamic and charismatic Chairman.” He urged the President to “pull out all stops” to make Subic succeed, while warning that “political jealousies and bureaucratic hurdles” could easily thwart otherwise solid efforts. He understood that Subic was never meant to succeed in isolation. Its development was supposed to radiate throughout Central Luzon,

He gave Subic his full support. At a time when we had to convince the world that this new experiment could work, Gautam and the World Bank gave us something equally valuable: credibility. He understood what we were trying to build and believed that, given the right conditions, Subic could become a catalyst for investment and growth far beyond its gates.

creating infrastructure, investment and jobs. Two decades later, I continued to pursue that vision through the Regional Investment and Infrastructure Coordinating Hub (RICH) bill, which passed both Houses of Congress, only to be vetoed by President Rodrigo Duterte. Decades later, we are again talking about integrating Subic, Clark and the surrounding areas through the Luzon Economic Corridor. The names may have changed. The idea has not. And look at Gautam’s other warnings. He warned us more than 30 years ago that countries like Vietnam were competing for the same investments we

wanted. Look at the region today. Vietnam has surged ahead. Indonesia and Malaysia have strengthened their industrial and investment bases. Singapore remains a regional economic powerhouse. Meanwhile, we are still talking about red tape, bureaucracy, policy uncertainty and many of the same obstacles Gautam warned us about decades ago. He warned against bureaucratic red tape, uncertainty and the constant flip-flopping of economic policy. More than three decades later, businesses still complain about the same things. He warned about agricultural stagnation. Agriculture continues to struggle, while too many of our people in the countryside remain dependent on dole-outs instead of being empowered through productivity, infrastructure and sustainable livelihoods. The same failure to sustain longterm thinking can be seen elsewhere. We have talked for decades about flood control and preparing communities for disasters, yet every rainy season many of the same places are flooded again. We spend enormous See “Gautam,” A15

www.news.businessmirror@gmail.com

A lucrative crypto contract sets off new no-bid fight for Trump By Scott Patterson & Ben Weiss

HE US government awarded a lucrative contract to a crypto analytics firm without putting it up for competitive bidding, sparking a legal fight and opening a new avenue for criticism over the Trump administration’s tendency toward no-bid deals. The Department of Homeland Security agreed in July to pay TRM Labs Inc. $95 million for software that traces cryptocurrency movements, as well as manpower to analyze the underlying data, according to a document posted on a government website. The contract is part of the White House’s effort to combat a surge in crypto scams targeting Americans, and the amount is large for a firm like TRM. The one-year agreement led one of TRM’s rivals, Chainalysis, to sue the Trump administration. Chainalysis alleges that the contract awarding process was “arbitrary, capricious and unreasonable.” Although TRM has distinctions from competitors, including how it sources data, rivals contend that they have their own unique qualities. Plus, a number of federal agencies that conduct anti-fraud and cybercrime operations already use tools created by TRM’s competitors, including Chainalysis and Mitre, according to publicly listed contracts. In a statement, the White House didn’t address questions about the TRM contract, but pointed to initiatives aimed at cyber theft that the contract intends to address. “The Trump administration is mounting an aggressive campaign to disrupt these illicit syndicates and dismantle them at the source,“ said White House spokeswoman Lauren Bis. TRM Labs and Chainalysis declined to comment. The TRM award is the latest example of the Trump administration issuing no-bid contracts that stir controversy. Others involve the Reflecting Pool on the National Mall, whose renovation and later repairs ultimately cost about $16 million; the White House’s new East Wing ballroom, whose construction is expected to cost as much as $600 million; and legal services for migrant children, which cost $158 million, according to records and media reports. The full tally of such contracts skyrocketed to $263 billion in 2025, the highest point in more than a decade, according to a public database of federal awards. Critics including government watchdogs and some US senators contend that the Trump administration is funneling billions in government funds to contractors who haven’t proven themselves to

The one-year agreement led one of TRM’s rivals, Chainalysis, to sue the Trump administration. Chainalysis alleges that the contract awarding process was “arbitrary, capricious and unreasonable.”

Gautam. . .

yet much of Gautam’s advice could have been written yesterday. That should trouble us. Gautam wrote not to criticize the Philippines, but because he believed we could do better. He had seen our potential. He wanted us to succeed. That is why his words deserve to be remembered today—not merely as a historical letter from a World Bank official to a Philippine President, but as advice from a friend who cared enough to tell us the truth. We should have listened more carefully then. We should listen now. Because after more than three decades, we must ask ourselves a difficult question: Have we really learned? We have had the warnings. We have had the plans. We have had the opportunities. The problem has never been that we did not know what needed to be done. The question is whether we have learned to do it—and to stay the course. When will we ever learn?

continued from A14

amounts responding to problems we have long known about instead of addressing their causes with foresight, discipline and continuity. That is what makes Gautam’s letter so striking today. It does not read like an old document. It reads like something that could have been written this morning. This was not a man lecturing the Philippines from afar. Gautam knew us. He worked with us. He supported Subic when that support mattered, and his confidence helped give us credibility before the international community. More importantly, he cared enough to tell us the truth. His letter was written not because he had to, but out of a sense of duty and friendship to a country whose potential he had seen firsthand. He warned us about the dangers of bureaucracy, political interference, inconsistent policy and lost opportunities. He told us what needed to be done while there was still time to do it. More than 30 years have passed,

be the most qualified, nor reasonably priced. “The administration is spending money without following best practices, and that will cost taxpayers for years to come,” said Scott Amey, general counsel at the nonprofit Project On Government Oversight.

Crime crackdown

THE TRM Labs contract stems from an executive order President Donald Trump issued in March, directing federal agencies to crack down on predatory attacks by scam centers and transnational criminal organizations that are often aided by foreign regimes. The program is focused on scam disruption using artificial intelligence, outreach to victims and realtime monitoring of scam efforts, according to a court document Chainalysis filed. It also aims to recover assets stolen through cybercrime as well as so-called sextortion cases, according to the document. The focus on scam disruption has been a theme throughout Trump’s second term in office. In April 2025, the Justice Department disbanded its crypto enforcement unit and issued guidance that prioritized prosecutions concerning drug cartels, transnational organizations, terrorist financing and human smuggling. Nonetheless, victims in the US and abroad told the Federal Bureau of Investigation that they lost almost $21 billion to cybercrime last year, a more-than-25 percent surge from the previous year. Crypto-related losses accounted for more than half of that total. In its justification for TRM’s nobid award, the administration said it’s “the only source capable of providing the full scope of technology, data and operational support services.” Eight companies responded to an initial request for information from the DHS in May, according to a public document, which didn’t specify what firms. The federal government concluded that all other contractors except TRM “lacked one or more critical capabilities required.” Bloomberg

The author is a former senator of the Republic of the Philippines, and Founding Chairman of the Subic Bay Metropolitan Authority.

Opinion BusinessMirror

Thursday, September 3, 2026 A15

For whom the bill tolls: Congressional bills vs electric bills By Atty. Laurence R. Rogero

Seventh of eight parts

VERYBODY loves a knockout. It is Pacquiao fight day. It might as well be a holiday. Family and friends have gathered around the television. Food is on the table. You hope Mommy Dionisia’s prayers, perhaps even her barang, are working. You add your own private hex on the opponent. The bell rings. There are only two sides: ours and his. We know what we want. Find the opening. Land the punch. Put the other fellow on the canvas. Congress sometimes seems to approach electricity prices with the same ambition. Knock out system loss. Defeat VAT. Make the utility absorb the cost. Declare the consumer the winner. If only electricity costs stayed down when you knocked them down. A cost removed from one corner of the bill can get up in another. The last installment followed taxes, subsidies and discounts to the people who ultimately pay them. Its conclusion carries into this one: the electricity bill is, in part, a statute book printed in pesos. Many charges appear because law or regulation permits them and decides who bears them. Change the rule and the peso may move from consumer to utility, utility to taxpayer, or one group of consumers to another. Sometimes the cost disappears. Sometimes only its address changes. This installment opens that statute book while Congress is still writing it. Dozens of bills touch system loss, its taxation, recovery or enforcement. Some would abolish or reduce it, preserve only technical loss, distinguish private utilities from cooperatives, remove VAT, prevent cost migration, or go after the thief rather than the tariff. This is economics conducted in statutes. The useful way to read the pile is not by sponsor or bill number. Follow the peso. Does a proposal reduce the underlying cost? Put the incentive on whoever controls it? Preserve efficient investment? Or merely move the peso somewhere less visible? The cleanest political punch is obvious: take system loss off the consumer’s bill. The stronger House proposals prohibit direct and indirect recovery, make utilities bear technical and non-technical losses, and bar the cost from returning under another name.

That can sharpen incentives to improve metering, conductors and transformers and to find illegal connections. But physics complicates the slogan: what if removing the last percentage point of technical loss costs more than it saves? HB 10572 makes lost electricity unrecoverable while preserving prudent modernization spending. HB 10357 adds five-year efficiency plans, independent audits, public scorecards and targeted assistance to electric cooperatives. A utility should bear avoidable loss, not be punished for efficient investment that prevents tomorrow’s loss. Nor can a network modernize overnight merely because a statute can. Then comes the Ice Seller’s distinction: melting is not chipping. Some proposals retain verified technical loss while excluding non-technical loss; others give rural cooperatives higher or transitional ceilings. Electricity dissipates regardless of ownership. But unavoidable loss varies with distance, load density, voltage, network configuration and terrain. EPIRA recognized those differences. Senate Bill 2131 instead proposes a one-percent cap for private distribution utilities and rural cooperatives while excluding nontechnical loss from recovery. One percent is wonderfully simple. Copper is not. A dense city utility and a mountain cooperative serving scattered communities do not operate the same network. If Congress imposes one ceiling, it should consciously decide who absorbs geography. Congress can set the distributive rule without becoming an engineering bureau. The ERC can calculate transparent technical benchmarks as networks and technology change. But rules do not enforce themselves. Bills promising ERC independence, deadlines, fiscal autonomy and technical capacity matter; a deadline imposed on an understaffed regulator may simply produce bad decisions faster. SBN 1477 would allow summary

treatment for DOE-certified contracts within ERC benchmark ranges. Scrutiny therefore moves into the benchmark. It should distinguish technology, grid and load profile, use competitive price discovery where possible, publish its method and updates, and face ex-post audit. Faster regulation is valuable. Faster error is not. SB 2124 takes another route: exempt residential system loss from VAT and prevent the saving from being clawed back through other passthrough charges. The tax disappears; the physical loss remains. Only one of those changes the incentive to lose less electricity. HB 9106 illustrates cost migration. It removes system loss as a separate bill item but allows it into operating expenses, subject to ERC efficiency standards. The name can disappear while the peso survives. House Bill 750 asks why government should argue only about who pays for stolen electricity instead of stopping the theft. It strengthens inspection, disconnection, evidence and penalties while preserving recovery against the offender. Utilities can meter, detect anomalies and preserve evidence. Law enforcement can investigate and prosecute. Those responsibilities should meet before one side is left holding an ice pick and the other a complaint form. There is also a lawyer’s problem inside the economist’s one. These terms already live in the Codes and ERC rules. Careless definitions can turn intended bill relief into years of rate litigation. The argument is wider than system loss. Other EPIRA proposals would change cross-ownership rules, divide PCC-ERC competition responsibilities, alter public-offering requirements, reopen government generation—and revise the market those generators enter. WESM itself belongs among Congress’s questions. It is a designed market around which has accumulated special government fiscal support to preferred institutions, non-market price safeguards, preferential dispatch regimes, settlement mechanisms and administrative interventions. Each may be defensible alone. Together, have they altered price formation, dispatch, investment incentives, competition and who pays? Is it time to revisit WESM’s rationale and mechanics? PEMC has begun reviewing enhancements introduced in 2021. Congress should ask whether the

whole architecture still delivers transparent price discovery, efficient dispatch and genuine competition. Nor can WESM be assessed apart from transmission. Transmission is a regulated natural monopoly, not a competitive segment, but it is not economically outside the market. As Part Four showed, connections, losses, congestion and reserves shape who competes, which plants dispatch and the prices WESM produces. Ownership rules should likewise reach actual control, not paper percentages. And Part Three recalled the earlier experiment with government as generator, purchaser and ultimate risk-bearer: blackouts, NPC debt approaching P900 billion and obligations consumers spent decades retiring. Any bill reopening that door should confront that history. Congress does not lack ideas. It lacks assembly. One bill supplies accountability, another modernization, another regulatory capacity, another tax relief, another enforcement. Good legislation can combine them while protecting against cost migration. Electricity reform is not winnertake-all. The better questions are these: Does responsibility follow control? Does the law distinguish physics from failure? Does it attack a cost’s cause as well as allocate it? Does relief identify who pays? Does reform preserve efficient investment? Can the enforcing institution do the job? A reform can make one line cheaper while making investment harder, or protect today’s consumer while raising tomorrow’s cost. The consumer deserves relief. But the cheapest-looking statute is not necessarily the cheapest electricity policy. Congress has many fragments of an electricity policy. What it does not yet have is the package. That is where the final installment begins.

Atty. Laurence R. Rogero is an infrastructure lawyer with three decades of experience in the Philippine and international power and water sectors, advising project sponsors, lenders, and investors. He is lead independent director of a publicly listed infrastructure holding company with interests in energy and water. He is pursuing postgraduate studies in economics at Ateneo de Manila University, where he also lectures in the School of Management. He graduated magna cum laude from the UP School of Economics, earned his law degree from UP, and obtained an LL.M. with Distinction from Georgetown University as a Fulbright Fellow. The views expressed are his own and should not be attributed to any institution, organization, client, company, or other entity with which he is affiliated.

Xi begins busiest travel month since 2019 before Trump talks

HINESE leader Xi Jinping is setting off on what’s shaping up as his busiest travel schedule in more than seven years, partly in a bid to convince nations that Beijing offers better global leadership than the US. This month, Xi is visiting Kyrgyzstan and Egypt, and is widely expected to attend a BRICS summit hosted by Indian Prime Minister Narendra Modi. When those visits are done, he’s set for a late September stop in Washington, where he’ll meet President Donald Trump in a bid to keep the two nations’ trade truce in place. The last time Xi was as active abroad was mid-2019, when he visited five countries, including North Korea. The current spurt of travel stands out because Xi has cut his foreign travel back in recent years, choosing instead to court foreign leaders in Beijing. The travels come as China portrays itself as a predictable partner in trade and investment opportunities. That’s an apparent contrast to the Trump administration, which is fighting a war with Iran, taking control of a major portion of Venezuela’s oil after seizing its leader and angering old friends like Canada with trade disputes. “This tour allows Xi to arrive in Washington after demonstrating that China has diplomatic breadth across Eurasia and the Global South,” said Zongyuan Zoe Liu, senior fellow

for China studies at the Council on Foreign Relations. “In this sense, Xi would arrive in DC not just as one leader coming for a bilateral negotiation, but a show of having strength and options.” Xi is now in Bishkek, Kyrgyzstan, where in addition to meeting President Sadyr Japarov, he’s also attending a meeting of the Shanghai Cooperation Organization. Beijing sees the SCO as a valuable platform for putting forward its policies and building influence with a range of nations, especially in the Central Asia region once dominated by Moscow. Speaking on Tuesday at the SCO gathering, Xi took a veiled swipe at the US, calling on major powers to “lead by example in observing international rules and the rule of law, and cooperate in tackling global challenges,” according to the official Xinhua News Agency. “The overwhelming majority of countries do not subscribe to power politics, do not want conflict and confrontation, and do not wish to remain closed off and left behind,” he said. “Instead, they aspire to secure an equal place on the world stage through their own development and

international cooperation.” Besides meeting Modi in Bishkek, Xi will also sit down with Russia’s Vladimir Putin and Iranian President Masoud Pezeshkian—conversations that give him a chance to gain insight into the wars in Ukraine and Iran. Xi’s travels underscore several of the key elements of what Beijing sometimes calls Xiplomacy. That approach places a strong emphasis on face-to-face meetings, developing ties with neighboring countries and strong engagement with Global South countries like Egypt—Africa’s second-largest economy. When asked about Xi’s trips, Foreign Ministry spokesman Guo Jiakun said that “head-of-state diplomacy represents the highest form of Chinese diplomacy.” The country wanted to “expand practical cooperation across various fields” with the engagements, Guo added at the regular press briefing in Beijing on Tuesday. Xi’s travels this month will eventually take him to the White House for an expected meeting with Trump. That summit will give the leaders a chance to keep ties on track given they seem to be tested nearly daily. In the latest example, this week Treasury Secretary Scott Bessent said he’d push Group of 20 nations to rethink their trade terms with China. The crowded itinerary will also

give Xi a chance to sell countries on China’s AI tech, which compares well with American options in performance at a fraction of the cost. China wants nations around the world to use its models and buy AI processing power in the form of tokens, seeing it as a new source of income much like the EVs now hitting roads around the world and solar power tech have been. Xi’s trip to Egypt comes as Huawei Technologies Co. bids to build AI data centers for Cairo, demonstrating its global chip ambitions. The effort echoes the playbook Huawei used to become the world’s preeminent telecoms-equipment provider in that it represents a small initial project designed to gain a foothold in a key market. Huawei’s plans drew alarm in the US, prompting Washington officials to start working on a counteroffer to Egypt. “C learly, both Washing ton and Beijing know that they cannot convince each other to use American or Chinese AI services and products, so the competition for AI business goes to the whole world,” said George Chen, partner and chair of digital practice for The Asia Group, an advisory firm based in Washington. “The two state heads, Xi and Trump, are now the top salesmen to promote their own country’s AI technology,” Chen added. Bloomberg

A16 Thursday, September 3, 2026

Sports BusinessMirror

EALA: VERY INTENSE, QUITE TIGHT A Spirit’s willing, but flesh gets weak in Wesel

IT’S hardly surprising, given the enormous, ardent, evergrowing fan base that now surrounds the charismatic 21-year-old Alex Eala. AP

HE law of averages caught Ernest John “EJ” Obiena as the two-time Olympian settled for a silver medal at the Domspringen Wesel International Pole Vault Meeting in Germany, barely three days after winning gold in Berlin. “It was a rough day and [tiredness],” said the Asian Games-bound Obiena, whose 5.75-meter effort landed him behind France’s Robin Emig (5.80m) and just enough over the US’s Cole Walsh (5.70m) on the podium. He went for 5.85m but the environment at the Grober Mrkt in Wesel make him fail thrice. “Eventually caught up after six competitions this last 14 days [since August 17],” the reigning Asian and Asian Games champion said. “So many mistakes at the earlier bars and paid the price.” Obiena has nine gold medals from his indoor and outdoor campaign this season with his silver in Wesel his third since moving camp from Formia to Athens under a new coach and trainer. But his most significant accomplishment was clearing 5.90m that didn’t merit a podium finish at the Zurich Wanda Diamond League last August 27, but a berth to next year’s world championships in Beijing. Josef Ramos

Benz head-to-head, winning in three sets in Strasbourg earlier this year. “It was a really good match. Very intense, quite tight,” Eala said. “Looking back at that match, there are a lot of things that I could have done better. It’s been a couple of months. I think I’ve developed a lot in said months. So all I can do is come into that match with the same mindset as today—the same mindset or an even better mindset than I’ve had these past couple of weeks— and try to do my best.”

Eala’s fans descend on US Open

ALEX EALA’S fans came bearing Filipino flags, and wearing hats telling her to fight on (“Laban Alex”). They cheered her sizzling groundstrokes, documented her volleys and serves in photos and video, and in some cases FaceTimed with friends or family. And this was only at the practice courts. It was about four hours before Eala took the court for her first-round US Open match Monday night, and every seat at the practice court was filled. Many of Eala’s fans didn’t have tickets for the evening session. But they’d come to see their idol hit some tennis balls. It was hardly surprising, given the enormous, ardent, ever-growing fan base that now surrounds the charismatic 21-year-old. This summer has seen Eala beat Iga Swiatek at Wimbledon and win her first tour singles title. She’s at a career-best 18th in the world, and she breezed into the second round of the US Open with a 6-1, 6-2 victory over Mary Stoiana—closing it out with a confident smile. One of the fans watching practice on a rainy afternoon was Andrea Belen, at 21 the same age as Eala. Belen, a pre-med student at New York University, explained that she hadn’t been a big tennis fan until Eala came along—someone who looked just like her. WTA News and AP

EAD coach Tim Cone flew with an almost different team to Seoul for two tuneup games ahead of the Philippines’ defense of the men’s 5x5 basketball gold medal at the Aichi-Nagoya 20th Asian Games. He reserved one spot for Justin Brownlee. “We reserved a slot hoping that Justin Brownlee will join us as we play our tuneup games,” Cone said. Brownlee is recovering from various injuries and missed the FIBA 2027 World Cup Qualifiers games against Jordan and Iran during the weekend with Gilas Pilipinas winning both. Cone brought with him only two holdovers from the team that played in the last FIBA Qualifiers window— Justin Arana Justine Baltazar—as well as RJ Abarrientos, who’s a regular on the national team coach’s roster. The others are Adrian Nocum, Sedrick Barefield, Don Trollano, Brandon Bates, Brandon GanuelasRosser, Robert Bolick, Jerrick Ahanmisi and Zavier Lucero. They will play in theE leHe lhe Hana Bank Invitational on Friday and Sunday at the Suwon KT Sonic Boom Arena before flying to Aichi. The Philippines plays Bahrain on September 11, Kazakhstan on September 12 and China on September 14 in Group C action at the Aichi International Arena (IG Arena). These Asian Games are unusually kicking off basketball competitions way ahead of the opening ceremony on September 19. Also, the Asian Games are lenient on athlete qualification by barely basing their eligibility as passport holders of the countries they represent, unlike in the FIBA which is strict on a player having secured a country’s passport at 15 years old. Josef Ramos

Quiban joining chase at P2.5M Summit Point leg

Filipinos share 3rd in ‘Nomura’

HE crack Philippine trio struggled and lost quite considerable ground in the 31st Nomura Cup on Wednesday after a second round 146 tally that dropped the team into a third place tie with China and defending champion Vietnam. They’re now 10 strokes off leading Hong Kong-China. But the young squad members believe that they have to play their best with a 288 aggregate, and with 36 holes left—the deficit is still pretty manageable as they chase the country’s first win in the event also known as the official Asia-Pacific golf team championship. Reigning national Match Play champion Shinichi Suzuki, after failing to count in the opening round on Tuesday, fired a level par 72 at the Bayhood No. 9 Golf Club in Beijing, a respectable effort, but one he described could have been much lower if not for a terrible day on the sleek greens. Newly minted Philippine Strokeplay titlist Jet Hernandez also had his struggles and his 74 counted as the second score for the Filipinos, who drew a 75 from first day leading scorer Rolando Bregente, who had just one unfortunate hole that practically made up for his 75 that failed to count. “Today wasn’t our day,” Suzuki, at 18 the youngest in the crew, said after failing to break par despite missing just four greens. “But there’s still a lot of golf to be played and anything is

Cone musters ‘different’ Gilas for Asiad hoops

LEX EALA advanced to the second round of the US Open for the second consecutive year with a convincing straight-sets win over American qualifier Mary Stoiana. Playing in front of a packed crowd at Louis Armstrong Stadium, Eala saved two break points in the opening game and stormed to a 5-0 lead. Stoiana, making her Grand Slam main-draw debut, managed to get on the scoreboard in the sixth game, but Eala held to love to close out the opening set 6-1. Eala again faced break points in her first two service games of the second set but saved them both. After breaking for a 3-2 lead, she never looked back, closing out the match, 6-1, 6-2 in one hour and 17 minutes. “I’m very happy with my level today,” Eala said in her post-match press conference. “It’s never easy, especially in the first round of a tournament—of the US Open nonetheless—and I think Mary has been having some good weeks. So yeah, I’m super happy.” The most telling stat of the night for Stoiana was her break-point conversion rate. She failed to convert any of her six break-point opportunities, while Eala converted four of eight. Eala’s win continues a strong run on the North American hard-court swing, highlighted by her title run in Washington, DC. She has now won nine of her past 11 matches on hard courts since Wimbledon, where she reached the fourth round of a Grand Slam for the first time. The Filipina will face Ukraine’s Oleksandra Oliynykova in the second round. Oliynykova—who defeated American wild card Reese Brantmeier, 6-4, 6-4, in her first-round match— leads Eala, 1-0, in their Women’s Tennis Association Tour Driven by Mercedes-

OBIENA

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

SHINICHI SUZUKI churns in a respectable effort in the second round. NGAP PHOTO

USTIN QUIBAN makes his eagerly awaited return to the Philippine Golf Tour (PGT), beefing up an already stellar field bracing for a fierce showdown in the ICTSI Summit Point Championship unfolding Tuesday at the Summit Point Golf and Country Club in Lipa City. With a break in the regional tours giving him an opening, Quiban has opted to return to the PGT for the P2.5-million championship not merely to add star power to the talent-laden cast, but with his sights firmly set on another victory.

He made a spectacular start to his PGT campaign this year, ruling the season-opening ICTSI Lakewood Championship in Cabanatuan City last March in dramatic fashion. He drained an eagle on the final hole to edge Korean Taewon Ha by one stroke, capping a memorable week highlighted by a course-record 10-under 62 in the opening round. Quiban then shifted his focus to the regional circuits, where results have not always gone his way. But the stretch of competition

East-West peek a boo IS it too early to think of the forthcoming National Basketball Association (NBA) season that officially opens on October 20 (October 21, Manila time)? We think not. Considering that NBA 2K 2027 will have its official worldwide release tomorrow, September 4, and preseason games start October 3 with a Miami Heat vs. Toronto Raptors game in Canada, the NBA is the next big thing to look forward to after the Gilas wins and the soon to open collegiate basketball season. We can say an NBA fever is non-existent for now, but the thermostat sure is acting up. The blockbuster trades that have happened in the offseason have set the coming season on fire. And with some rigodon still going on among some teams, people are prone to wonder, comment and speculate about goings-on in the NBA. Like which teams are going to blaze across the basketball universe in 2026-27? Which Conference will steal the thunder from the other with dazzling fireworks and sheer dominance? Although the perception of the Eastern Conference is that it’s the weaker of the two Conferences, the East is red hot and spicy because

of migration and beefed up rosters. The defending champions New York Knicks are still the team to beat, with their formidable championship rotation intact, giving them continuity and priceless chemistry. The elite starting line-up of Jalen Brunson, Karl-Anthony Towns, OG Anunoby, Mikal Bridges and Josh Hart is still all there. Jose Alvarado, Jordan Clarkson and Landry Shamet add depth and Coach Mike Brown spreads his mantel around his solid squad, now armed with experience, confidence and championship pedigree. But the sun also rises for the Philadelphia 76ers who now have LeBron James and Jaylen Brown to play with Joel Embiid, Tyrese Maxey, VJ Edgecomb and Anfernee Simons. This star-studded, highceiling team is definitely going places this season. Provided concerns like Joel Embiid’s health, team

has provided valuable opportunities to fine-tune his game, and he is hoping to bring the benefits of that experience to Summit Point. His return, however, will hardly make the task any easier. A crack field of established champions, rising young guns and foreign aces is also set to battle for the fifth leg of the Pilipinas Golf Tournaments Inc.-organized circuit, guaranteeing four days of high-level action at a venue making its return to the PGT calendar.

chemistry and consistency are addressed. The Detroit Pistons, led by Cade Cunningham and distinguished by their 60-win campaign last year, are in the fight as well. But first they have to resolve the contract stalemate with Jalen Duren and find a way to get back their baffling, high-octane offense. The Piston offense dropped from 117.9 to 110.7 in the postseason. Their defense remains to be their main strength and super power coming into the new season though. The Cleveland Cavaliers have one of the most talented and experienced cores in the league. Donovan Mitchell, James Harden, Evan Mobley, Peyton Watson, and Jarrett Allen make this group a big threat all the way to the playoffs. Also, the Miami Heat and the Indiana Pacers are acknowledged Eastern threats. Giannis now plays with Adebayo for the Heat. And look out, Tyrese Haliburton will be back, paired with elite rebounder Ivica Zubac this time, for the Pacers. As for the wild, wild West, it’s still going to be wicked. The Western group is projected to be a massive heave and ho between the conference’s two powerhouses. The Oklahoma City Thunder are still title favorites, with Shai Gilgeous-Alexander, Chet Holmgren and Jalen Williams as major thunderbolts. The San Antonio Spurs are also up there,

JUSTIN QUIBAN’S return hardly makes the task any easier. PGT PHOTO

with Victor Wembanyama leading the charge alongside De’Aaron Fox and young guns Dylan Harper and Stephon Castle. The Denver Nuggets will always be elite, and a threat, thanks to the offense provided by Nikola Jokić and Jamal Murray, now also playing with DeMarDe Rozan. The Houston Rockets, the Minnesota Timberwolves and the Los Angeles Lakers—despite LeBron’s departure—are all considered threats too. The Houston Rockets have elite defense coupled with superstar scoring from Kevin Durant backed up by a young, talented squad. The Wolves’ offense is humming with star guard LaMelo Ball paired with fearless, super athletic Anthony Edwards. Now anchored by Luka Dončić, the Lakers have a reconfigured roster playing behind just one superstar. So know what? The experts down in Las Vegas have already figured who will be the Top 8 teams in the East and the West! The Knicks, the Pistons, the Cavs, the Sixers, the Celtics, the Heat, the Pacers and the Hawks are it for the East, so they say. The Spurs, the Thunder, the Nuggets, the Rockets, the Timberwolves, the Lakers, the Trail Blazers and the Suns are the eight best in the West. Do you agree?

Editor: Jennifer A. Ng

Companies BusinessMirror

Thursday, September 3, 2026

Asiatel looks to build on strong H1 growth By Bless Aubrey Ogerio @blessogerio

SIATEL Outsourcing Inc. is looking to expand its local service capacity and diversify its client base after posting a 51 percent year-on-year increase in service revenue in the first half of 2026. The Philippine business process outsourcing (BPO) and knowledge process outsourcing (KPO) company generated $5.14 million in service revenue in the six months ended June 30, up from $3.40 million a year earlier, mainly on higher service volumes from existing customers.

But the stronger top line came with tighter margins. Gross profit rose 30 percent to $693,322, while gross margin fell to 13 percent from 16 percent as service costs grew faster than revenue. Cost of services increased 55 percent to $4.44 million, with direct personnel expenses accounting for about 97 percent of the total as Asiatel expanded its workforce to more than 500 fulltime employees. The company also remains highly dependent on one customer. About 91.5 percent of its first-half revenue came from services provided to Asia

Telecom Holdings Ltd. (ATHL), a related party, although Asiatel is pursuing customer diversification. Further, around 5 percent of revenue during the period came from existing client programs in Canada, where the company is now seeking to build a more repeatable sales pipeline. Asiatel said it is evaluating options to increase Philippine delivery capacity in response to customer demand while broadening its offerings through its KPO and Asiatel Digital units. It also began implementing its Canadian digital go-to-market strategy

and continued developing artificial intelligence-enabled services, including the initial rollout of its fileAI (artificial intelligence) alliance in the Philippines. Jasjit Singh Anand, the company’s Chief Executive Officer, said that Asiatel’s priorities for the rest of the year are to turn its new AI automation and market-entry services into measurable results, improve unit economics as capacity expands, and develop a broader client base. “Following the recent launch of our AI automation solutions and market entry services, our focus for

the balance of the year is on converting these initiatives into measurable results, improving unit economics as delivery capacity scales, building a repeatable pipeline in the Canadian market, and demonstrating early proof points from our AI and KPO offerings that can support a broader, more diversified client base,” Anand said. In addition, he said Asiatel is developing the business around three areas: BPO as its “execution engine,” KPO as its “expertise engine,” and Digital as its “transformation engine.” Asiatel completed its reverse take-

over on June 30 and began trading on Canada’s TSX Venture Exchange under the ticker ATOI on July 14. The company ended June with $1.09 million in cash and cash equivalents, up 164 percent from $414,726 at end-2025, partly due to $1 million in private placement proceeds tied to the listing. It had no bank indebtedness as of June 30, while its main long-term obligations consisted of lease liabilities and $137,504 in loans payable to a related party. Asiatel said it does not expect further expenses related to the completed reverse takeover.

JAPANESE CASH-TECH MAKER PUTS MONEY ON PHL GROWTH

LORY (Philippines) Inc. (GPI) is planning to expand its Local operations, including manufacturing, logistics and other value-adding activities, as it seeks guidance from the Philippine Economic Zone Authority (Peza) on how to structure the planned expansion. The company discussed with Peza possible ways to register activities such as quality inspection, packaging, warehousing, customization and logistics services within the agency’s investment framework. GPI has operated in the Cavite Economic Zone since 1994, where it manufactures currency-handling machines for the global operations of its Japanese parent Glory Ltd. The Philippine unit employs more than 1,300 Filipinos and serves as a manufacturing and export hub, supplying markets in North America, Europe and Asia. GPI President Shoichi Onishi said the company has operated in the country for more than three decades with Peza’s support and is considering how to further integrate its Philippine operations

into its global business. “GPI has continued its operations in the Philippines for more than 30 years with the support of Peza. Glory positions the Philippines not merely as a production base, but as a strategic partner supporting future global growth,” Onishi said. During an early August meeting, Peza Director General Tereso O. Panga said the agency would help GPI determine the appropriate structure for its planned activities under the Peza framework. “As you expand your operations, our role is to help you identify the most appropriate structure within the Peza framework so that your investments can remain competitive while contributing more to jobs, exports, technology, and our national economy,” Panga said. “We want GPI to continue growing in the Philippines and to see the country become an even stronger part of your global operations.” GPI is part of Glory Ltd., a manufacturer of money-handling solutions headquartered at Hyogo, Japan, with operations in more than a hundred countries. Bless Aubrey Ogerio

Surigao hospital taps First Gen for RE power supply

By Lenie Lectura @llectura

HE Surigao Doctors’ Hospital Inc. has transitioned to 100-percent renewable energy (RE) through a power supply deal with First Gen Corp. The Lopez-led firm will source electricity from the 108-megawatt Mount Apo geothermal facility in Kidapawan, North Cotabato. The contract was signed under the government’s Green Energy Option Program (GEOP), which allows consumers with a peak demand of at least 50 kilowatts to choose renewable energy suppliers. The shift lowers electricity expenses, ensures reliable 24/7 power for critical life-saving equipment, and reduces the hospital’s carbon footprint. “Our primary concern is to lower the cost of our electricity expenses while maintaining reliable power supply to ensure the optimum functionality of life saving equipment critical in-patient care,” said Dr. Roy

N. Ycong, the chairman of the board of Surigao Doctors. “[The] second important thing is that we will be able to contribute to the decarbonization of the environment by sourcing cleaner and more sustainable electricity for our daily operations.” First Gen is the country’s largest renewable energy producer and partners with multiple medical facilities nationwide using geothermal power. “The ability to power RE 24/7 is a game-changer in ensuring operations remain stable and reliable, while reducing carbon footprints. It is a privilege for us to support our partners in achieving sustainability and cost management goals,” said Carlos Lorenzo L. Vega, First Gen chief customer engagement officer. The 50-bed Surigao Doctors offers a wide range of medical services and community outreach services. Meanwhile, First Gen is the leading renewable energy producer in the Philippines with 1.76 gigawatts of generating capacity from 31 wind, solar, hydro and geothermal facilities.

LUXURY STOCKS

The storefront of the Louis Vuitton boutique in Monte-Carlo, Monaco, located on the French Rivier. Owning luxury stocks has become almost a contrarian trade, but signs that consumer confidence and earnings growth are bottoming out hint at some relief for the battered sector. “Interestingly, when consumer confidence is at lows, such as most recently, consumer groups tended to outperform over the next 12 months,” said JPMorgan Chase & Co. strategists led by Mislav Matejka. BLOOMBERG/GETTY IMAGES

PAL planes to fly for 50 years after legislative franchise OK’d

By Jovee Marie N. Dela Cruz

@joveemarie

HE House of Representatives has approved on third and final reading a measure renewing for another 50 years the legislative franchise granted to Philippine Airlines Inc. (PAL), allowing the country’s flag carrier to continue operating air transport services in the Philippines and abroad. Voting 250 affirmative, 3 negative, and one abstention, lawmakers approved House Bill 10545, which seeks to extend PAL’s authority under Presidential Decree (PD) 1590 to establish, operate, and maintain domestic and international air transportation services, providing the airline with a longer-term framework to sustain its operations and pursue future expansion plans. Under the franchise renewal bill, PAL will retain its authority to pro-

vide air transportation services for passengers, mail, and cargo through domestic and international routes. The measure also allows the airline to operate scheduled, non-scheduled, and charter flights, subject to existing laws, regulations, and government aviation standards. The bill permits PAL, the primary operating subsidiary of PAL Holdings Inc., to maintain and develop the aircraft, equipment, facilities, and communication systems necessary

for its operations. It also provides that the airline’s activities remain under the supervision and regulation of appropriate government agencies. The renewed franchise includes provisions requiring PAL to comply with applicable laws and regulations, create employment opportunities, and observe labor standards. It also maintains that the franchise is nonexclusive and may be amended or revoked by Congress when public interest requires. The measure further provides that PAL cannot transfer, lease, or assign the franchise or its controlling interest without approval from the government. It also retains government authority to temporarily take over or operate the airline’s facilities during times of war, national emergency, calamity, or public danger. With the proposed 50-year extension, PAL will continue to hold the authority to operate air transport services while complying with the conditions and responsibilities provided under the renewed franchise. Deput y Spea ker Fra nc isco Paolo P. Ortega V, one of the au-

thors of the bill, emphasized that air transportation remains a vital contributor to economic growth, tourism, trade, and employment. Citing industry data, he highlighted that aviation contributes significantly to the Philippine economy and supports millions of jobs, demonstrating the importance of maintaining a strong national aviation sector. According to Ortega, while PAL’s franchise under Presidential Decree No. 1590 remains valid until 2034, the proposed early renewal of its legislative franchise reflects Congress’ recognition of the airline’s broader role in national development. Ortega said the measure recognizes PAL’s role as the country’s flag carrier, providing international connectivity, opening routes, supporting underserved areas, and contributing to tourism and commerce. He also cited PAL’s public service efforts during the COVID-19 pandemic, including repatriation flights for stranded Filipinos, transport of essential medical supplies, and support for national recovery efforts.

Companies BusinessMirror

Thursday, September 3, 2026

American laser tech-maker weighs domestic expansion

By Bless Aubrey Ogerio

@blessogerio

HE Pennsylvania, United Statesheadquartered Coherent Corp. is weighing further expansion of its local operations as demand grows for technologies used in data centers, optical communications and semiconductor applications. Executives of its Philippines subsidiary Coherent II-VI Laser Enterprise Phils. Inc. discussed expansion plans and prospects for scaling its domestic manufacturing operations during an early August meeting with officials of the Philippine Economic Zone Authority (Peza), the latter revealed. Representatives from Coherent, a global maker of lasers, photonics and optical technologies, presented potential projects that could add manufacturing capacity and bring in technology transfers from its global network, with discussions also covering the registration and incentives framework

that would apply to new investments and expansions. The company operates manufacturing, research and development, sales, service and distribution facilities across more than 20 countries, producing lasers, optical and optoelectronic components, transceivers, modules and systems, as well as engineered materials. Its products are used in industries including data centers, communications, semiconductors, electronics, industrial manufacturing and instrumentation. In the Philippines, Coherent operates its laser business in

briefs PETROENERGY TO SELL STAKE IN PETROWIND

THE PetroEnergy Resources Corp. (PERC) executed a term sheet to sell a 35-percent stake in PetroWind Energy Inc. (PWEI) to SMFL Mirai Partners Company Ltd. (SMFL-MP) for P1.7 billion. The signed term sheet serves as a basis for negotiating definitive agreements and does not yet transfer any shares, the company said. Once the deal is complete, the ownership of PWEI will be 40-percent owned by PetroGreen Energy Corp. (PGEC); 35 percent, SMFL-MP; and, 25 percent, PERC. The transaction is subject to regulatory approvals, according to PERC. Lenie Lectura

ALI IMPROVES RANK IN TIME LIST

PROPERTY developer Ayala Land Inc. (ALI) was ranked 369th globally in Time magazine’s World’s Most Sustainable Companies 2026, emerging as the only Philippine real estate developer on the list, marking its second consecutive year of recognition. ALI, which rose 117 places, and Globe Telecom Inc. are the only two Philippine companies recognized on the publication’s list this year. The higher ranking validates ALI’s continued progress in delivering measurable sustainability outcomes at scale, from expanding renewable energy use and low-carbon buildings to reducing waste and strengthening the resilience of its estates and developments, the company said in a statement. VG Cabuag

MANILA WATER SAYS EXPANDED NETWORK

THE Manila Water Co. Inc. touted its continuous expansion of its water distribution network across the East Zone of Metro Manila and Rizal. The company said in a statement that as of July, the company’s network spans 5,738.06 kilometers of pipelines, supporting the delivery of safe and reliable water to millions of customers in its service area. Maintaining this extensive network requires a sustained focus on leak prevention and the reduction of illegal connections to ensure that more water reaches customers. As of July, Manila Water’s year-to-date non-revenue water level stood at 14.24 percent, among the lowest in Asia. Jonathan L. Mayuga

CEBU PACIFIC TO RESTORE CAPIZ COAST

CEBU Pacific operator Cebu Air Inc. revealed on Wednesday plans to restore a hundred hectares of degraded coastal areas in Capiz through mangrove rehabilitation under the maiden project of its newly established foundation, part of a broader push to reach 500 hectares by 2030 and build climate resilience in vulnerable communities. The listed budget carrier unveiled Cebu Pacific Foundation Inc. (CPFI) as it marks its 30th anniversary, positioning the philanthropic arm to advance sustainable tourism and disaster resilience through naturebased solutions. T he foundation will partner with local organizations, the private sector, civil society, development institutions, and government to reduce disaster and climate risks, protect ecosystems, and strengthen livelihoods. Lorenz S. Marasigan

Calamba, Laguna, while its performance-metals operations are based in Rosario, Cavite. Its Calamba facility supports manufacturing for telecommunications, data centers, optical communications, industrial lasers and other photonics applications.

MUTUAL FUNDS

T he company opened a 1,500 -square-meter manufacturing facility in Calamba in April, adding to its Philippine production footprint. A Peza locator since 2014, Coherent has invested about P1.7 billion in its Philippine operations, including its latest Calamba facility, and employs more than 1,000 Filipino workers. The potential expansion comes as the country seeks to move beyond conventional semiconductor and electronics activities toward h igher-va lue m a nu fact u r ing , while global demand for artificial intelligence (AI) infrastructure continues to drive investment in photonics, optical connectivity and related technologies.

September 2, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A211.64 -1.99% 1.83% -0.66% -2.36% -1.14% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.2991 11% 17.02% 8.85% 4.96% 6.37% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8334 -2.16% 0.6% -1.13% -4.16%-0.62% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7628 1.77% 4.72% 0.69% N.A3.9% FIRST METRO CONSUMER FUND, INC. -A 0.5051 -13.5% -6.96% -7.55% N.A -9.17% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.3123 -4.91% -1.22% -2.42% -2.3% -1.38% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6483 -1.08% -0.75% -2.36% N.A0.89% MBG EQUITY INVESTMENT FUND, INC. -A 71.35 -18.52% -5.62% -5.93% N.A -20.24% PAMI EQUITY INDEX FUND, INC. -A 42.3933 1.2% 1.1% -1.05% -2.01% 2.5% PHILAM STRATEGIC GROWTH FUND, INC. -A 443.99 -2.2% 1.47% -1.15% -2.24% -1.23% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.5804 5.02% 11.46% 5.78% 2% 1.22% PHILEQUITY FUND, INC. -A36.0443 4.04% 3.74% 1.16% -0.33% 4.69% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9612 8.61% 5.69% 1.9% N.A 8.28% PHILEQUITY PSE INDEX FUND, INC. -A 4.5877 2.05% 2.11% -0.03% -1.12% 2.64% PHILIPPINE STOCK INDEX FUND CORP. -A 755.28 1.7% 1.75% -0.32% -1.34% 2.76% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7085 2.05% 2.81% 0.4% -2.58% 0.91% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.1488 -6.47% -0.72% -2.28% -2.85%-1.89% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8463 1.51% 1.32% -0.7% -1.6% 2.71% UNITED FUND, INC. -A3.655211.08% 7.06% 2.54% 0.56% 11.18% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0608 1.76% 1.77% N.A N.A 2.7% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0574 0.37% N.A N.A N.A 1.33% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9196 -2.93% -2.14% -3.12% N.A -2.62% PHILIPPINE STOCK INDEX FUND CORP. -A 911.26 1.68% 1.53% N.A N.A 2.8% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 103.074 2.01% 1.97% 0% -0.92% 3.06% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2637 33.72% 14.81% 1.05% 3.5% 23.35% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4773 18.5% 15.92% 5.99% 9.03% 11.37% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) PHILEQUITY GLOBAL FUND, INC. -A,2 1.0677 N.A N.A N.A N.A N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1896 2.48% 1.3% -0.03% -0.84% 2.3% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7284 8.05% 6.12% 0.71% -0.53%5.63% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5082 0.3% 0.89% -0.65% -0.56%1.88% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2305 0.3% 6.88% 3.82% N.A-0.6% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 1.9954 2.53% 1.19% 0.51% 0.36% -0.35% PAMI HORIZON FUND, INC. -A3.7547 0.94% 3.24% 0.51% -0.27% -0.93% PHILAM FUND, INC. -A15.8589 -1.47% 1.92% -0.65% -0.83% -0.94% SOLIDARITAS FUND, INC. -A2.1131 0.75% 2.45% 0.68% -0.03% 0.61% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.404 -2.56% 1.18% -0.69% -1.22%-0.57% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8947 -3.25% 1.01% 0.17% -0.95% -1.76% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.78 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9777 0.61% 2.08% -0.03% N.A -0.11% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8322 -1.83% 0.84% -1.43% N.A -1.14% -2.49% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.7989 0.26% -1.94% N.A -1.52% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03315 -0.15% 0.77% -2.94% -0.87% -3.35% PAMI ASIA BALANCED FUND, INC. -B $1.1676 -0.71% 9.57% 1.02% 2.28% -3.5% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.7116 11.8% 11.59% 3.39% 5.94%6.99% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2085 4.74% 6.53% 0.23% 2.36%2.12% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.71 2.45% 3.25% 2.63% 2.52% 1.12% ATRAM CORPORATE BOND FUND, INC. -A 1.9859 2.22% 1.25% 0.63% 0.39% 1.4% COCOLIFE FIXED INCOME FUND, INC. -A 3.612 1.71% 3.02% 2.21% 3.21% 0.34% EKKLESIA MUTUAL FUND, INC. -A 2.4459 0.81% 3.08% 1.58% 1.38% -0.27% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5141 -1.42% 1.3% 0.59% 1.12%-2.14% PHILAM BOND FUND, INC. -A4.541 -0.46% 2.71% 0.25% 0.7% -1.5% PHILAM MANAGED INCOME FUND, INC. -A 1.5451 3.04% 4.57% 3.2% 2.96% 1.65% PHILEQUITY PESO BOND FUND, INC. -A 4.3324 1.38% 3.03% 1.73% 1.83% 0.45% SOLDIVO BOND FUND, INC. -A1.1308 2.2% 2.89% 1.74% 1.65% 0.92% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.4539 -2.12% 2.25% 1.41% 1.87% -2.45% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8318 -1.98% 1.88% 0.9% 1.27% -2.79% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0112 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532.97 1.91% 2.83% 1.78% 1.95% 0.74% ALFM EURO BOND FUND, INC. -A Є223.01 0.19% 1.79% 0.21% 0.52% -0.34% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0559 -2.08% 0.28% -2.65% -0.65% -1.78% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 -1.53% 2.02% -0.31% 0.28%-2.64% PAMI GLOBAL BOND FUND, INC. -B $1.0485 -1.57% 7.73% -0.14% -0.6% -1.08% PHILAM DOLLAR BOND FUND, INC. -A $2.4269 -0.46% 2.93% -0.84% 0.55% -2.14% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0636028 -0.52% 1.63% 0.16% 1.13% -1.31% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8591 -0.95% 1.74% -2.26% -0.76%-2.51% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1868 2.73% N.A N.A N.A 1.75% ALFM MONEY MARKET FUND, INC. -A 152.74 4.16% 4.1% 3.18% 2.86% 2.6% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2244 3.46% 3.78% 3.03% N.A2.23% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5152 3.6% 3.6% 2.97% 2.76% 2.27% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 117.02 4.12% 4.31% N.A N.A 2.69% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1952 2.51% 3.31% 2.46% N.A 1.61% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.1394 7.57% 3.91% N.A N.A 4.4% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.9005 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5989 32.35% 22.33% 14.07% N.A19.76% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.2069 12.46% 6.25% N.A N.A 8.17% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS)

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

September 2, 2026

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS FERRONOUX HLDG LMG CORP MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE

57.1 121.5 10.06 103.5 53 10.14 65.3 7 75.95 51.2 22.8 63.65 22.9 1.4 0.51 4 0.32 0.123 1.38 205 0.82

57.5 121.6 10.7 104 53.3 10.28 65.5 7.09 76 52.5 23 63.75 23 1.43 0.53 4.14 0.36 0.127 1.43 205.2 0.86

53.5 121.5 10.02 104.9 53.1 10.3 66.4 7 72.5 52 22.8 63.8 23.8 1.44 0.52 3.87 0.32 0.108 1.4 212 0.82

57.8 121.8 10.7 104.9 53.6 10.3 66.65 7 78.25 52.8 22.8 64.1 23.9 1.44 0.52 4.15 0.32 0.16 1.5 212 0.82

53.4 120 10.02 103 53 10.16 64.95 7 72.2 51.2 22.8 63.6 22.9 1.43 0.52 3.87 0.32 0.108 1.38 205 0.82

57.5 121.5 10.7 104 53 10.2 65.3 7 76 52.5 22.8 63.65 23 1.43 0.52 4.15 0.32 0.128 1.42 205.2 0.82

446,520 1,530,030 173,700 441,560 516,560 86,600 3,288,740 100 2,338,570 1,370 600 68,100 264,600 52,000 1,000 28,000 10,000 9,060,000 611,000 18,130 3,000

25,171,212 185,745,074 1,807,892 45,785,262 27,469,166 886,974 214,930,194 700 178,127,064 71,278 13,680 4,344,597 6,177,865 74,370 520 111,870 3,200 1,152,010 870,710 3,732,982 2,460

INDUSTRIAL ACEN CORP 2.61 2.64 2.73 2.77 2.61 2.61 32,845,000 87,186,780 12,269,780 1.15 1.16 1.19 1.2 1.14 1.15 2,696,000 3,121,500 -202,440 ALSONS CONS ALTERNERGY HLDG 0.75 0.75 0.74 0.75 0.74 0.75 213,000 158,110 3,700 45 45.15 45.25 45.6 44.55 45 911,200 41,067,800 -9,699,710 ABOITIZ POWER RASLAG 1.26 1.17 1.2 1.17 1.17 1.18 838,000 1,021,190 22,620 0.107 0.109 0.107 0.107 1,700,000 183,720 -48,600 BASIC ENERGY 0.11 0.11 4.88 4.9 4.87 5 4.87 5 659,300 3,270,602 874,902 CITICORE RE FIRST GEN 26.05 26.1 25 26.6 24.75 26.05 2,817,900 73,819,915 -10,464,675 99.5 100 100 101.4 99.5 99.5 49,240 4,932,419 -740,398 FIRST PHIL HLDG MERALCO 269,780,858 456 456.2 440 456.6 432.6 456 602,650 20,139,756 35.1 35.15 35.1 35.2 34.55 35.1 463,700 16,217,010 -1,419,570 MANILA WATER 18.42 18.5 18.52 18.42 18.42 2,895,600 53,777,222 -2,562,184 MAYNILAD 18.84 PETRON 2.31 2.34 2.29 2.34 2.29 2.34 268,000 622,490 46,180 4.01 4.14 4 4.1 4 4.1 115,000 469,280 PETROENERGY PRYCE CORP 15.2 15.26 15.2 15.28 15.2 15.28 10,500 159,680 123,120 9.72 9.79 9.8 9.8 9.75 9.79 6,100 59,492 REPOWER ENERGY SEMIRARA MINING 16.2 16.34 16.56 16.64 15.9 16.2 1,540,000 25,187,986 -245,776 SYNERGY GRID 25.65 25.95 26.6 26.6 25.6 25.65 1,505,400 39,113,880 -4,119,100 7.7 7.96 8.1 8.12 7.7 7.7 823,600 6,470,981 -4,424,579 SHELL PILIPINAS SPC POWER 9.52 9.8 9.41 9.68 9.4 9.65 33,000 314,152 1.19 1.2 1.21 1.22 1.19 1.2 11,059,000 13,252,030 -2,556,050 SP NEW ENERGY TOP LINE 1.74 1.75 1.76 1.83 1.73 1.75 771,000 1,368,620 -126,000 AXELUM 3.1 3.1 3.08 2.95 2.95 3.08 8,120,000 24,926,740 -1,343,790 0.305 0.32 0.31 0.31 0.305 0.305 880,000 269,200 61,500 BALAI FRUITAS CNTRL AZUCARERA 9.3 9.92 9.3 9.3 9.3 9.3 1,000 9,300 31.75 31.8 31.55 32 31.5 31.8 664,300 21,088,365 -10,613,875 CENTURY FOOD DEL MONTE 3.85 3.85 3.62 3.85 3.85 3.85 2,000 7,700 -7,700 DNL INDUS 3.62 3.63 3.59 3.65 3.56 3.63 3,744,000 13,489,380 3,518,350 15.38 15.5 15.52 15.34 15.38 2,356,700 36,275,088 -5,464,564 EMPERADOR 15.46 SMC FOODANDBEV 47.3 47.3 47.2 47.3 47 47.25 126,200 5,954,085 -3,501,840 0.62 0.63 0.62 0.63 173,000 107,990 -68,300 FIGARO GROUP 0.63 0.63 ALLIANCE SELECT 0.29 0.305 0.295 0.295 0.29 0.29 150,000 44,200 0.64 0.65 0.64 0.64 0.64 0.64 132,000 84,480 -19,200 FRUITAS HLDG 220 218 217.6 220 183,410 40,074,518 8,718,666 GINEBRA 222 222 JOLLIBEE 152.4 152.4 152 152 146.7 152 668,240 100,382,791 -55,437,176 1.85 1.86 1.85 1.87 1.83 1.86 694,000 1,282,520 633,590 KEEPERS HLDG LIBERTY FLOUR 21.5 21.9 23 23 21.5 21.9 3,400 73,600 5.46 6.1 6.1 6.1 2,000 12,200 6.1 6.1 MACAY HLDG 2.15 2.27 2.18 2.18 2.18 2.18 70,000 152,600 MAXS GROUP MONDE NISSIN 6.81 6.84 6.8 6.88 6.75 6.81 2,581,900 17,496,755 -538,491 5.55 5.56 5.57 5.57 5.57 5.57 1,100 6,127 SHAKEYS PIZZA ROXAS AND CO 2.4 2.51 2.4 2.51 2.4 2.51 26,000 62,510 21,600 5.25 5.26 5.26 5.31 5.21 5.26 636,800 3,336,721 -1,989,280 RFM CORP SWIFT FOODS 0.057 0.057 0.055 0.057 0.055 0.055 2,540,000 139,780 60.5 60.5 60.4 60.5 59.7 60.4 815,560 49,070,142 -2,814,496 UNIV ROBINA 0.49 0.5 0.49 0.49 307,000 151,100 -44,060 VITARICH 0.5 0.5 ATN HLDG A 0.41 0.42 0.415 0.415 0.405 0.41 2,290,000 944,200 0.41 0.415 0.415 0.415 0.41 0.415 1,550,000 640,750 ATN HLDG B CONCRETE A 54.05 57.95 57.95 57.95 57.95 57.95 10 580 59.95 59.95 51.35 59.95 59.95 59.95 10 600 CONCRETE B 1.34 1.27 1.27 1.35 1,407,000 1,862,330 -233,120 1.35 1.35 CONCREAT HLDG EEI CORP 1.8 1.86 1.84 1.88 1.8 1.84 542,000 979,960 -849,970 4.85 4.9 4.95 4.8 4.85 1,380,000 6,719,740 -525,750 MEGAWIDE 4.98 PHINMA 14.88 14.02 14.9 14.9 14.9 14.9 100 1,490 1.84 1.84 1.82 1.84 1.81 1.82 555,000 1,007,210 526,380 CROWN ASIA 1.13 1.14 1.14 1.14 1.13 1.13 87,000 98,330 -6,780 EUROMED MABUHAY VINYL 5.15 5.15 5 5.15 5.15 5.15 200 1,030 -1,030 10.78 11.02 10.5 11.02 10.5 11.02 1,600 17,278 3,210 CONCEPCION GREENERGY 0.166 0.164 0.169 0.169 0.164 0.166 140,000 23,030 -19,680 7.18 7.2 7.27 7.27 7.11 7.2 844,700 6,071,887 -840,655 INTEGRATED MICR 2.44 2.46 2.45 2.48 2.35 2.44 1,228,000 2,990,500 -142,240 IONICS PANASONIC 7.29 7.08 7.02 7.31 7.02 7.29 8,600 61,257 1.32 1.36 1.31 1.38 1.29 1.35 3,265,000 4,383,310 224,800 CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL 0.335 0.34 0.345 0.35 0.325 0.34 7,440,000 2,484,400 6,750 61.9 62 61.3 63 61 62 506,250 31,327,505 6,912,231 ASIABEST GROUP AYALA CORP 492 496 490.2 497 488 496 295,520 145,111,246 -4,947,298 37.55 38 38.9 38.9 37.55 37.55 3,706,800 142,080,530 -18,708,315 ABOITIZ EQUITY ALLIANCE GLOBAL 9.02 9.08 9.01 9.12 9 9.02 2,111,600 19,008,578 -18,418,812 16.7 16.9 16.86 16.52 16.92 14,200 235,508 ANSCOR 16.98 1.45 1.46 1.55 1.55 1.44 1.46 3,250,000 4,811,750 230,640 ANGLO PHIL HLDG BHI HLDG 477 1,019 980 980 980 980 700 686,000 7.88 7.88 7.81 7.88 208,500 1,642,651 1,507,343 7.89 7.89 COSCO CAPITAL DMCI HLDG 7.67 7.68 7.82 7.86 7.63 7.68 2,629,000 20,298,206 545,788 3.6 3.66 3.64 3.71 3.64 3.71 12,000 43,960 FILINVEST DEV 490 491 482 492 470 490 97,820 47,560,124 -5,827,794 GT CAPITAL HOUSE OF INV 4.7 4.75 4.7 4.7 4.7 4.7 200,000 940,000 940,000 19.9 19.94 20.2 20.35 19.54 19.9 933,100 18,545,048 2,197,997 JG SUMMIT LODESTAR 0.37 0.37 0.355 0.37 0.37 0.37 50,000 18,500 5.25 5.36 5.31 5.37 5.25 5.25 283,500 1,488,805 20,354 LOPEZ HLDG LT GROUP 15.2 15.2 15.1 15.14 14.96 15.1 2,357,300 35,663,474 1,540,932 PACIFICA HLDG 0.83 0.88 0.83 0.86 0.83 0.86 17,000 14,560 1.2 1.28 1.29 1.29 1.29 1.29 6,000 7,740 PRIME MEDIA SOLID GROUP 1.17 1.17 1.16 1.17 1.17 1.17 28,000 32,760 557.5 558 557.5 564 550 558 510,930 284,446,545 -103,425,480 SM INVESTMENTS SAN MIGUEL CORP 63 63.05 63 63.2 62.7 63 230,850 14,539,752 -2,141,519 TOP FRONTIER 54.5 54.5 52.8 54.2 54 54.5 770 41,786 0.072 0.076 0.074 0.074 0.074 0.074 20,000 1,480 ZEUS HLDG PROPERTY ARTHALAND CORP 0.455 0.465 0.465 0.465 0.465 0.465 60,000 27,900 -18,600 14.74 14.8 15.04 15.36 14.72 14.74 22,026,300 328,307,916 -124,187,954 AYALA LAND AYALA LAND LOG 1.14 1.15 1.14 1.15 1.13 1.15 357,000 405,790 60,420 11.76 12.68 11.72 11.76 11.72 11.76 6,700 78,680 -58,700 ALTUS PROP ARANETA PROP 0.27 0.29 0.27 0.27 0.27 0.27 10,000 2,700 36.7 36.75 36.8 37 36.6 36.7 626,600 23,003,175 -6,955,095 AREIT RT 0.76 0.77 0.73 0.76 97,000 73,600 A BROWN 0.77 0.77 CITYLAND DEVT 0.62 0.62 0.6 0.62 0.6 0.62 53,000 32,260 2.08 2.11 2.1 2.1 2.1 2.1 96,000 201,600 CEB LANDMASTERS CENTURY PROP 0.61 0.62 0.64 0.64 0.62 0.62 5,516,000 3,424,500 1,800 3.16 3.18 3.15 3.21 3.15 3.16 2,170,000 6,896,560 -3,659,510 CITICORE RT 12.02 12.02 11.98 12.18 203,200 2,466,064 -293,194 DOUBLEDRAGON 12.18 12.18 DDMP RT 1.04 1.04 1.03 1.04 1.03 1.03 577,000 596,590 24,720 4.9 5 4.9 4.95 6,100 30,150 -500 DM WENCESLAO 5 5 EVERWOODS 0.029 0.029 0.028 0.029 0.029 0.029 200,000 5,800 2.9 2.9 2.88 2.9 121,000 349,900 -17,370 2.91 2.91 FILINVEST RT FILINVEST LAND 0.68 0.69 0.69 0.69 0.68 0.69 364,000 250,390 -5,520 GLOBAL ESTATE 0.62 0.62 0.61 0.62 0.62 0.62 57,000 35,340 1.8 2.05 2.05 2.1 37,000 76,310 2.1 2.1 JACKSTONES KEPPEL PROP 2.43 2.56 2.56 2.56 2.56 2.56 1,000 2,560 2.23 2.29 2.29 2.23 2.23 2,961,000 6,672,900 -2,168,930 2.25 MEGAWORLD MRC ALLIED 0.69 0.7 0.7 0.71 0.69 0.7 910,000 637,140 13.58 13.6 13.58 13.8 13.58 13.6 1,154,900 15,804,156 629,468 MREIT RT 0.102 0.103 0.102 0.102 0.102 0.102 300,000 30,600 OMICO CORP PRMIERE HORIZON 0.162 0.164 0.163 0.168 0.162 0.164 260,000 42,430 4,880 0.395 0.39 0.39 0.405 130,000 52,250 PHIL ESTATES 0.425 0.425 PHIL RACING 5.01 5.36 5.01 5.01 5.01 5.01 500 2,505 1.02 1.03 1.02 1.04 1.01 1.03 85,000 87,030 1,020 PREMIERE RT 1 1.01 1.01 1.1 10,000 10,890 PRIMEX CORP 1.1 1.1 RL COMM RT 7.05 7.1 7.16 7.17 7 7.1 11,126,100 78,721,217 1,725,329 17.14 17.3 17.3 17.62 17.04 17.14 610,500 10,500,526 -4,591,648 ROBINSONS LAND PHIL REALTY 0.11 0.115 0.11 0.11 0.11 0.11 120,000 13,200 2,200 3.07 3.01 3.1 3.01 3.09 527,000 1,591,060 776,850 ROCKWELL 3.09 3.22 3.25 3.25 3.29 3.25 3.25 23,000 74,790 -32,500 SHANG PROP STA LUCIA LAND 1.82 1.9 1.93 1.93 1.83 1.93 19,000 36,510 -1,880 18.1 18.16 17.92 18.2 17.92 18.1 2,489,700 45,049,758 -5,021,024 SM PRIME HLDG WELLEX INDUS 0.3 0.32 0.3 0.3 0.3 0.3 200,000 60,000 SERVICES ABS CBN 3.62 3.66 3.61 3.74 3.61 3.61 112,000 404,670 4.04 4.05 4 4.1 4 4.05 66,000 266,520 GMA NETWORK DITO CME HLDG 0.68 0.69 0.69 0.69 0.67 0.68 4,545,000 3,097,020 -185,640 1,591 1,592 1,600 1,601 1,585 1,592 70,075 111,584,805 -15,175,925 GLOBE TELECOM PLDT 1,144 1,140 1,141 1,111 1,111 1,140 82,875 94,108,910 -4,469,360 0.006 0.0061 0.006 0.0062 0.006 0.0062 19,000,000 115,800 24,000 APOLLO GLOBAL 9.05 9.09 9.08 9.11 9.03 9.05 4,497,800 40,694,683 3,576,763 CONVERGE DFNN INC 0.72 0.72 0.64 0.72 0.72 0.72 1,000 720 -720 0.12 0.125 0.122 0.125 520,000 63,530 ISLAND INFO 0.125 0.125 NOW CORP 0.45 0.45 0.44 0.43 0.43 0.45 170,000 75,700 0.119 0.121 0.119 0.121 130,000 15,530 0.121 0.121 TRANSPACIFIC BR 0.85 0.85 0.85 0.88 184,000 159,410 18,700 CHELSEA 0.88 0.88 CEBU AIR 27.8 27.85 27.85 28.2 27.8 27.85 71,000 1,975,635 -125,200 932.5 933 955 955 920 932.5 1,419,050 1,321,906,485 3,674,860 INTL CONTAINER MACROASIA 3.76 3.75 3.8 3.8 3.75 3.75 239,000 896,630 491,230 2.81 2.82 2.8 2.88 2.74 2.81 3,003,000 8,402,030 854,440 PAL HLDG HARBOR STAR 1.92 1.95 2.04 2.12 1.91 1.92 6,304,000 12,531,460 -716,610 ACESITE HOTEL 1.39 1.48 1.39 1.39 1.39 1.39 7,000 9,730 0.032 0.032 0.031 0.032 35,300,000 1,124,800 -6,400 0.033 0.033 BOULEVARD HLDG DISCOVERY WORLD 1.06 1.06 1 1.06 1.06 1.06 3,000 3,180 0.4 0.4 0.4 0.4 0.4 580,000 232,000 0.44 WATERFRONT CENTRO ESCOLAR 15 15.22 15 15 15 15 600 9,000 6.75 6.76 7.3 6.75 6.75 6.75 100 675 IPEOPLE 1.28 1.3 1.28 1.28 1,600,000 2,062,270 136,190 1.32 1.32 STI HLDG BELLE CORP 1.15 1.15 1.14 1.14 1.14 1.14 406,000 465,320 -111,700 2.32 2.34 2.4 2.31 2.34 7,547,000 -6,754,280 BLOOMBERRY 2.41 17,732,880 PACIFIC ONLINE 1.65 1.78 1.68 1.68 1.68 1.68 12,000 20,160 1,680 DIGIPLUS 10.96 10.02 10.16 10.82 9.98 10.02 9,377,300 96,982,428 -17,702,039 14.2 14.5 14.68 14.22 14.22 1,773,700 25,630,360 -9,377,144 PHILWEB 14.22 METRO RETAIL 1.05 1.08 1.09 1.09 1.05 1.08 70,000 74,100 1,080 40 40.1 40 39.55 40 771,900 30,843,145 3,899,245 PUREGOLD 40.25 PHIL SEVEN CORP 32.55 33.7 33 33 32.75 33 510,600 16,746,990 -14,974,315 2.03 2.04 2.03 2.08 80,000 163,520 22,440 SSI GROUP 2.08 2.08 0.86 0.88 0.89 0.91 0.84 0.86 496,000 431,770 -9,980 UPSON INTL CORP WILCON DEPOT 5.67 5.72 5.6 5.71 5.55 5.6 2,055,500 11,523,207 -2,069,744 0.107 0.11 0.11 0.11 210,000 23,100 APC GROUP 0.11 0.11 MEDILINES 0.232 0.232 0.231 0.232 0.231 0.232 50,000 11,590 4.04 4.15 4.15 4.02 4.15 41,000 168,670 -66,400 4.18 PAXYS 1.62 1.64 1.63 1.63 1.63 1.63 10,000 16,300 PHILCOMSAT SBS PHIL CORP 3.03 3.15 3.03 3.14 3.01 3.14 10,000 30,550 -3,230 MINING & OIL APEX MINING 15.96 15.58 15.2 16 6,649,800 104,264,950 35,381,600 16 16 ATLAS MINING 20.35 20.5 20.05 20.8 20.05 20.35 3,729,000 76,183,135 -2,662,705 7.61 7.69 7.71 7.71 7.6 7.7 181,800 1,384,270 BENGUET A BENGUET B 7.68 7.68 7.5 7.68 7.68 7.68 200 1,536 -1,536 4.26 4.7 4.69 4.7 4.69 4.7 64,000 300,700 -23,500 DIZON MINES 0.28 0.3 0.275 0.275 0.275 0.275 10,000 2,750 EC VULCAN FERRONICKEL 2.09 2.05 2.08 2.06 2.03 2.08 958,000 1,986,660 -637,830 0.102 0.105 0.105 0.101 0.102 1,090,000 111,650 10,500 GEOGRACE 0.104 LEPANTO A 0.232 0.233 0.238 0.238 0.228 0.233 47,060,000 10,884,920 0.228 0.23 0.228 0.239 1,040,000 237,710 2,390 0.24 0.24 LEPANTO B 0.0088 0.009 0.0087 0.009 0.0087 0.0088 45,000,000 394,300 MANILA MINING A MANILA MINING B 0.0086 0.009 0.0086 0.0086 0.0086 0.0086 10,000,000 86,000 0.78 0.79 0.8 0.78 0.79 3,913,000 3,078,100 667,960 0.81 MARCVENTURES NIHAO 0.53 0.53 0.55 0.52 0.5 0.53 83,000 43,410 4 4.01 4.01 4.08 3.93 4 3,391,000 13,514,030 714,850 NICKEL ASIA OCEANAGOLD 36 36.05 36 36.05 35.3 36 956,400 34,341,470 14,519,070 ORNTL PENINSULA 0.56 0.56 0.54 0.54 0.54 0.55 330,000 179,510 -69,860 11.06 11.08 10.6 11.12 10.3 11.06 8,579,400 92,382,488 1,548,652 PX MINING UNITED PARAGON 0.0094 0.0096 0.011 0.011 0.009 0.0094 145,500,000 1,423,100 -150,600 3.2 3.3 3.3 3.3 3.2 3.3 9,000 29,240 12,800 ENEX ENERGY ORNTL PETROL A 0.013 0.014 0.013 0.013 0.013 0.013 5,900,000 76,700 0.013 0.014 0.013 0.013 0.013 0.013 4,800,000 62,400 ORNTL PETROL B 0.0082 0.0082 0.0082 0.0082 0.0082 7,000,000 57,400 0.0084 PHILODRILL PXP ENERGY 3.12 3.15 3.05 3.28 3.05 3.15 3,008,000 9,519,290 -45,750 PREFFERED ACEN PREF A 990 1,000 1,000 1,000 1,000 1,000 10 10,000 10,000 1,030 1,039 1,040 1,040 1,039 1,039 150 155,950 -104,000 ACEN PREF B AC PREF AR 2,466 2,496 2,498 2,498 2,498 2,498 80 199,840 1,948 1,960 1,948 1,948 1,948 1,948 25 48,700 AC PREF B3R AC PREF B4R 1,950 1,965 1,960 1,960 1,960 1,960 490 960,400 -392,000 465.4 493 492 492 492 492 60 29,520 -29,520 ALCO PREF F 99 100 99 99 99 99 200 19,800 BRN PREF A BRN PREF C 101.9 102 102 102 102 102 40 4,080 935 980 979 979 979 979 10 9,790 CLI PREF A1 CPG PREF B 98.5 99.1 99.1 99.1 99 99 750 74,304 93.15 94.15 93.65 94.25 93.1 93.1 17,240 1,607,495 DD PREF 96.5 96.95 96.45 96.5 96.45 96.5 3,220 310,729 EEI PREF B GTCAP PREF B 991.5 998.5 995 995 995 995 500 497,500 995 998 995 995 995 995 110 109,450 -99,500 JFC PREF B MWIDE PREF 7A 100 100.6 100 100 100 100 10 1,000 99.55 102 99.5 99.5 99.5 99.5 510 50,745 MWIDE PREF 7B PCOR PREF 4A 961 994.5 974 974 958 958 2,000 1,921,080 981 998 990 990 981 981 370 365,670 PCOR PREF 4C 965 980 965 965 965 965 30 28,950 PCOR PREF 4D SMC PREF 2L 77.55 80 80 80 80 80 50 4,000 77.5 78.9 78.9 78.9 77.9 77.9 1,010 78,689 SMC PREF 2N SMC PREF 2O 79 79.5 79.5 79.5 79.5 79.5 450 35,775 74.5 75 75 75 75 75 1,580 118,500 -118,500 SMC PREF 2S 76 76.9 76.9 76.9 76.9 76.9 30 2,307 SMC PREF 2U SMC PREF 2V 78 79 77.25 79 77.25 79 350 27,263 79 79.8 79.5 79.9 79 79.9 10,800 854,998 4,770 SMC PREF 2X TECH PREF B2C 8.29 9 8.31 8.31 8.3 8.3 1,000 8,305 6.8 7.39 7.39 7.39 7.39 7.39 300 2,217 TECH PREF B2D 99.55 99.7 99.7 99.7 99.5 99.7 6,440 641,086 TOP PREF A1 TOP PREF A2 101 101.1 101.1 101.1 101 101 450 45,490 -

ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8038 -1.11% 0.93% -4.27% N.A -0.77% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 3.13 3.5 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, 3.96 4.1 GMA HLDG PDR 2026. 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, WARRANTS 2025. AGI WARRANT 1.05 1.07 1.07 1.07 1.07 1.07 2,000 2,140 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. SM A L L, M ED I U M & EM E R G IN G 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE HAUS TALK 1.4 1.42 1.44 1.46 1.39 1.4 470,000 671,710 DEBT VEHICLE, INC. 0.02 0.022 0.021 0.021 0.021 0.021 500,000 10,500 LFM PROP MAKATI FINANCE 1.85 1.92 1.95 1.95 1.83 1.92 32,000 60,190 “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no

warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa.com.ph to see the latest NAVPS/NAVPU.”

-590,526 -12,939,840 254,404 -11,183,664 -2,441,333 -153,288 -157,980,378 39,865,709 512 -2,105,732 -253,640 -39,600 -45,370 1,647,938 -

XURPAS

0.2

0.219

EXHANGE TRADE FUNDS FIRST METRO ETF

101.9

102

0.212

90,000

19,080

-111,560 -

104 104 101.8 102 10,570 1,080,768 -184,918

www.businessmirror.com.ph

Banking&Finance BusinessMirror

briefs

➔ BIR to scrap power loss VAT soon

THE Bureau of Internal Revenue is preparing a confirmatory issuance to remove the value-added tax on the allowable system loss charge in electricity bills to reduce the amount paid by consumers. Internal Revenue Commissioner Charlito Martin R. Mendoza said in a statement on Wednesday that the agency will issue a revenue memorandum circular clarifying the tax treatment of the system loss charge. The RMC will be issued after the lapse of 15 days from the publication of Energy Regulatory Commission Resolution 26 (series of 2026). The regulator approved the resolution on August 25. Reine Juvierre S. Alberto

➔ Solon eyes removing VAT on residential electricity

EVEN as the Department of Finance has warned that scrapping the 12-percent value-added tax on system loss charge would result in about P10 billion in revenue losses every year, a senator is pushing to remove as well the VAT on residential electricity, to bring relief to households. At the recent Development Budget Coordination Committee briefing, Senator Paolo Benigno “Bam” A. Aquino said the proposal could provide consumers with greater relief alongside efforts to remove system loss charges from their electricity bills. “If we remove the VAT from the electricity of residential [users]–not the businesses, or factories, but just residential, this could mean a bigger drop in the electricity bill of our citizens,” Aquino told government economic managers. Butch Fernandez

Healthcare firm, lender ink deal

SECURITY Bank Corp. announced it has inked an agreement with healthcare procurement platform “Dr. Bidder” operator Vireo Loadworks Inc. In a statement, the lender said that through the collaboration, healthcare institutions on Vireo’s platform “can explore Security Bank financing solutions for equipment investments, subject to the bank’s standard credit evaluation and approval processes.” By bringing equipment procurement and financing into one ecosystem, Security Bank and Vireo “helps healthcare institutions acquire critical medical equipment more efficiently, allowing them to focus on what matters most: delivering quality care to their patients.”

➔ AUB OKs 100% stock dividend

ASIA United Bank Corp. announced that shareholders recently approved key strategic capital initiatives designed to strengthen the bank’s balance sheet and position it for long-term expansion. During a special stockholders’ meeting held on August 28, AUB stockholders formally approved the amendment of AUB’s Articles of Incorporation to increase its authorized capital stock by 393 percent to P72.50 billion from P14.70 billion, subject to regulatory approvals, a statement by the lender read. Stockholders also approved the declaration of a 100-percent stock dividend, the official record date and payment date of which will be fixed and announced following the receipt of all requisite regulatory approvals.

Editor: Dennis D. Estopace • Thursday, September 3, 2026

Elevated US Treasury yields push up PHL debt papers’

By Reine Juvierre Alberto

@reine_alberto

IELDS on the 5-year Treasury bond (T-bond) climbed on Wednesday, with the Bureau of the Treasury partially awarding bids again as elevated US Treasury yields push local yields higher. “The rise in the 5-year auction yield reflects not only the Bangko Sentral ng Pilipinas’ (BSP) rate hike but also broader market pressures, particularly the continued weakness of the peso and higher US Treasury yields,” Jean Olivia De Castro, head of fixed income at Manulife Investments Philippines, told the BusinessMirror last Wednesday. These factors, De Castro added, pushed investors to demand higher returns, especially in the 3-year to 5-year sector where selling pressure has been most pronounced. Bloomberg News has reported that rising oil prices weighed on bonds and pushed global yields to the highest, as traders increased bets that the US Federal Reserve

and other central banks will raise interest rates. Global government bond yields have increased by 17 basis points on a rolling 20-day cumulative basis, compared with 62 basis points back then, data compiled by Bloomberg show. The comparable 5-year US Treasury yield was around 4.56 percent. “Near-term sentiment may remain cautious given peso weakness and elevated global yields,” De Castro said. “However, higher local yields are increasingly offering attractive value, and once currency pressures stabilize and inflation continues to moderate, we expect domestic demand to re-emerge, providing support for the bond market and creating

THE yield on 30-year US government bonds climbed back to levels seen just before US Treasury Secretary Scott Bessent in photo) expanded a buyback program in an effort to contain longterm borrowing costs. The gambit worked briefly, until the selloff that’s been sweeping through global markets pushed the government’s borrowing costs up again. PHOTOGRAPHER: CHIP SOMODEVILLA/GETTY IMAGES CREDIT: ORGANIZATION

opportunities for investors to gradually extend duration,” she added. The average yield for the security was capped at 7.218 percent to “align with market sentiment,” the Treasury said in a statement after the auction. This was higher by 8 basis points from the 7.138 percent yield recorded in the previous auction last August 4. It was also above the secondary benchmark rate of 7.095 percent for the same tenor, based on the Philippine Bloomberg Valuation (PHP BVAL) Reference Rates. The Treasury accepted yields ranging from a low of 7.150 percent to a high of 7.250 percent. The T-bonds auction was 1.2 times

oversubscribed as tenders reached P36.111 billion, of which P29.561 billion was awarded. This is slightly short of the P30 billion borrowing target as the Treasury rejected the most expensive bids. Next week, the Treasury will offer 91-, 182- and 364-day Treasury bills, as well as 7-year T-bonds. In 2026, the government aims to borrow a total of P2.733 trillion and follow a 70:30 financing mix, in favor of domestic sources. As of the first half of the year, the government’s gross borrowings reached P1.821 trillion, up by 14.45 percent from P1.591 trillion in the same period last year.

Half a century of growth: How BDO built the Philippines' largest banking franchise

By John Eiron R. Francisco

IFTY years ago, BDO Unibank, Inc. (BDO) began as a modest savings bank. Today, it serves millions of Filipinos, supports businesses across industries, and stands as the country's largest banking institution by assets. Its transformation over the past five decades tells a story not only of corporate growth but also of the evolution of Philippine banking and the aspirations of generations of Filipino families and entrepreneurs. As BDO marks its 50th anniversary, the milestone offers an opportunity to reflect on a journey shaped by strategic expansion, changing customer needs, and a commitment to making financial services more accessible to Filipinos wherever they are. The institution traces its roots to Acme Savings Bank, established in 1967. A defining moment came in 1976 when it became part of the SM Group, laying the foundation for a growth strategy that would combine disciplined expansion, customer-centric services, and long-term investments in banking infrastructure. Over the years, BDO pursued a series of acquisitions that broadened its capabilities and accelerated its growth. These included Banco Santander Philippines, Dao Heng Bank Philippines, GE Money Bank, Citibank Savings, Real Bank, and the consumer banking business of UOB Philippines. The Bank also completed its landmark merger with Equitable PCI Bank, one of the largest banking consolidations in Philippine banking history. But BDO's rise was never solely about acquiring scale. Each transaction brought new capabilities, expanded access to customers, and strengthened the Bank's ability to serve different segments of the market. At the same time, BDO continued to invest heavily in its own operations, steadily growing its lending portfolio, deposit base, distribution

network, and suite of financial services. The result is a banking franchise that today touches nearly every part of the Philippine economy. From helping entrepreneurs launch small businesses to providing capital for major infrastructure and corporate projects, BDO has become a financial partner to individuals, families, enterprises, and institutions at different stages of their growth. Its services now span consumer and corporate banking, transaction banking, trust and investments, private banking, insurance, leasing and finance, securities brokerage, and investment banking. Beyond traditional banking, BDO has also played an important role in helping connect Filipino families across borders. Through its remittance network and overseas presence, the Bank has enabled millions of overseas Filipinos to send money home conveniently and securely, supporting household expenses, education, healthcare, housing, and small businesses. For many families, these remittances represent not just financial transactions but opportunities for a better future. This diversified model has enabled the Bank to evolve alongside its customers. As financial needs became more sophisticated, BDO expanded beyond traditional lending and deposit-taking, building businesses in wealth management, insurance, remittance services, and

MARKING A GOLDEN ANNIVERSARY. For 50 years, BDO Unibank has been finding ways to help Filipinos and their families move forward, support communities, and contribute to the nation’s progress. capital markets advisory. These operations have helped create a more resilient organization while offering customers a broader range of financial solutions under one roof. The Bank's scale today reflects decades of sustained growth. As of June 2026, BDO held total assets of P5.90 trillion, gross customer loans of P3.93 trillion, and deposits of P4.57 trillion. It ranked first among Philippine banks in terms of total assets, customer loans, deposits, and assets under management based on published statements of condition. Those figures represent more than balance-sheet strength. They reflect the trust placed by millions of customers who have relied on the institution to save, invest, borrow, build businesses, purchase homes, and achieve personal financial goals through the years. The Bank's extensive physical footprint has also played a key role in its growth story. Currently, BDO operates over 2,000 branches and offices, including branch-lite units, supported by more than 7,900 automated teller machines nationwide. Beyond the Philippines, it main-

tains 13 international remittance offices, and two branches in Hong Kong and Singapore, respectively, to serve overseas Filipinos and corporate clients in key markets across Asia, North America, Europe, and the Middle East. These international offices reflect the Bank's long-standing relationship with the global Filipino community. For decades, BDO has helped overseas Filipino workers stay financially connected to their loved ones back home, providing remittance and banking services that have enabled families to save, invest, build homes, finance education, and pursue long-term financial goals. For many Filipinos, especially in communities where access to financial services remains vital, the branch network continues to provide an important connection to the banking system. At the same time, BDO has expanded its digital capabilities, allowing customers to bank anytime and anywhere as technology reshapes the way financial services are delivered. The ability to balance physical reach with digital innovation has become one of the defining characteris-

tics of modern banking. For BDO, it reflects an approach that recognizes customers increasingly expect both convenience and accessibility. Looking back, BDO's journey mirrors many of the changes that have shaped the Philippine economy over the past five decades. It has navigated periods of economic expansion, market volatility, technological disruption, and shifting consumer behavior while continuing to broaden its services and strengthen its position within the industry. Its strategy of combining acquisitions, business diversification, and continuous investment in infrastructure and technology has enabled it to adapt to different economic cycles and pursue growth through multiple channels. Rather than depending on a single business line, BDO has built a franchise that draws strength from its breadth, scale, and ability to serve a wide range of customer needs. Reaching 50 years is a rare achievement in any industry. For BDO, the milestone serves both as a celebration of how far it has come and as a reminder of the responsibility that comes with serving mil-

lions of customers and supporting the broader economy. As the Bank enters its next chapter, its focus is increasingly centered on sustaining growth, accelerating digital transformation, and responding to the evolving needs of customers in an increasingly competitive financial landscape. From its beginnings as a small savings bank to its position today as the country's largest banking franchise, BDO's first 50 years stand as a testament to the power of vision, adaptability, and long-term commitment. More importantly, it is a story measured not only in assets and market share, but in the millions of lives it has touched, from entrepreneurs pursuing growth opportunities to overseas Filipinos working hard to support their families back home. As BDO celebrates its golden anniversary, it marks not just a corporate milestone, but five decades of helping Filipinos achieve their financial aspirations, supporting businesses that drive economic progress, and building lasting connections across generations, communities, and borders.

Health&Fitness BusinessMirror

B4 Thursday, September 3, 2026

Editor: Anne Ruth Dela Cruz

DOH warns public of health risks from haze By Claudeth Mocon-Ciriaco

NHALING haze from air pollution or smoke can cause immediate irritation and worsen existing medical conditions, the Department of Health (DOH) warned. The DOH issued the warning following reports of haze affecting several areas in the country. Based on the latest report from the Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) issued Tuesday, air quality is being monitored in areas affected by haze in the National Capital Region (NCR), Central Luzon, CALABARZON, and MIMAROPA.

The DENR-EMB said the haze is associated with smoke from ongoing forest fires in Kalimantan, Indonesia, which is being transported toward the Philippines by prevailing southwest monsoon winds or habagat. The agency said the haze may continue to affect parts of the country for several days while the fires remain active.

Fine particulate matter THE haze contains fine particulate matter, in-

cluding PM2.5, which can be inhaled deep into the lungs and may trigger or worsen respiratory problems. On Tuesday, several air-quality monitoring stations in Metro Manila recorded “very unhealthy” to “acutely unhealthy” air quality levels amid elevated PM2.5 concentrations. Areas with “acutely unhealthy” readings included Las Piñas, Malabon, Mandaluyong, Manila, Marikina, Muntinlupa, Parañaque, Quezon City, San Juan, Taguig, and Valenzuela. The DOH said haze may cause difficulty breathing, coughing, chest pain, eye irritation or watery eyes, and may worsen existing lung conditions such as asthma. Children, older adults, and people with existing lung or heart conditions are advised to take extra precautions and limit their exposure to the haze. To minimize exposure, the DOH reminded the public to:

Merck, Moderna report positive Phase 3 results for personalized melanoma vaccine By Patrick Villanueva

the cancer from returning after surgery.

PERSONALIZED mRNA vaccine developed by Merck & Co., Inc. and Moderna, Inc. has shown positive Phase 3 results in patients with high-risk melanoma, marking a significant milestone in the effort to reduce the risk of cancer recurrence after surgery. The companies announced that their individualized neoantigen therapy, intismeran autogene, combined with Merck’s immunotherapy KEYTRUDA (pembrolizumab), achieved statistically significant and clinically meaningful improvements in recurrence-free survival (RFS) and distant metastasis-free survival (DMFS) compared with KEYTRUDA alone. The ongoing Phase 3 trial involves patients with surgically removed stage IIB, IIC, III and IV cutaneous melanoma who face a high risk of the disease returning after surgery and had not previously received systemic therapy.

Landmark moment in cancer research

A vaccine tailored to each patient’s cancer UNLIKE traditional vaccines, intismeran autogene is a personalized cancer treatment created specifically for each patient. Researchers analyze a sample of the patient’s tumor to identify mutations unique to that cancer. Those mutations, known as neoantigens, serve as a genetic “fingerprint” that is used to design an mRNA vaccine aimed at training the immune system to recognize and attack cancer cells. The vaccine works by stimulating T cells to mount an immune response against tumorspecific mutations, potentially helping prevent

“THESE Phase 3 findings represent a pivotal moment for the field of cancer research,” said Stéphane Bancel, chief executive officer of Moderna. “For many years, the idea of creating an mRNA treatment designed specifically for an individual patient’s cancer was aspirational. We are now helping turn that vision into a reality.” The companies said the combination therapy demonstrated a safety profile consistent with previous studies, with no new safety concerns identified during the ongoing trial. The study enrolled 1,137 patients, who were randomly assigned in a 2:1 ratio to receive intismeran autogene plus KEYTRUDA or KEYTRUDA alone over approximately one year. Patients in the combination group received up to nine doses of the personalized vaccine alongside up to nine cycles of KEYTRUDA.

Hope for patients with high-risk melanoma PROFESSOR Georgina Long, the study’s principal investigator and medical director of the Melanoma Institute Australia, said the findings are the first from a Phase 3 trial to demonstrate that a personalized mRNA therapy can improve outcomes when added to KEYTRUDA in patients with completely resected high-risk melanoma. “This is the first Phase 3 study to show that intismeran, a treatment designed based on the unique mutational ‘fingerprint’ of a patient’s own tumor, given in combination with pembrolizumab can reduce the risk of recurrence

or death in patients with completely resected stage IIB-IV melanoma compared to KEYTRUDA alone,” Long said. Melanoma is considered the deadliest form of skin cancer because of its ability to spread rapidly to other parts of the body. Patients with high-risk melanoma remain vulnerable to recurrence even after their tumors have been surgically removed, making effective adjuvant treatments an important part of long-term cancer care.

Next step toward personalized cancer treatment WHILE the Phase 3 study is still ongoing and full data will be presented at an upcoming medical meeting, the positive interim results represent the first successful late-stage trial for an individualized mRNA cancer vaccine in melanoma. Merck and Moderna said they are already in discussions with regulators about potential approval of the treatment. Dr. Dean Y. Li, president of Merck Research Laboratories, said the goal of giving treatment after surgery is to improve the chances of long-term remission by targeting cancer before it returns. “By intervening earlier in the course of disease, when many cancers are considered most treatable, the goal of adjuvant therapy given after surgery is to increase the possibility of cure for more patients,” Li said. Researchers say the results could open the door to broader applications of personalized mRNA therapies in other cancers, with ongoing clinical trials already evaluating the approach in lung, bladder and kidney cancers.

Floating clinic brings family planning services closer to hard-to-reach communities By Rizal Raoul S. Reyes | Contributor

OR communities separated from health facilities by water, access to family planning services can be a challenge of distance, time and cost. Seeking to bridge that gap, DKT Philippines Foundation, a non-profit organization powered by TRUST, launched the country’s first-ever family planning floating clinic on August 20, 2026, at BangkaPro, the vessel’s builder, in Taguig City. Developed under the Foundation’s Service Outreach and Distribution Extension (SODEX) Program, the mobile health facility is designed to bring essential reproductive health and family planning services closer to communities that are difficult to reach by land. Developed in partnership with the Ministry of Health in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the initiative aims to expand access to free family planning and reproductive health services for hard-to-reach communities across Mindanao.

Accessible reproductive healthcare DENISE VAN DIJK, chairperson of the Board of DKT Philippines Foundation Inc. and president and CEO of DKT Health Inc., said the initiative reflects the Foundation’s commitment to making quality reproductive healthcare accessible to every Filipino. “For more than three decades, DKT Philippines Foundation has worked to remove bar-

riers to family planning through innovation and strong partnerships. The SODEX Floating Clinic is another important step in that mission, allowing us to bring more communities better access to family planning products and services of their choice,” she said. The floating clinic is the latest addition to the Foundation’s SODEX Program, which provides free family planning services through partner healthcare facilities and the country’s first family planning mobile clinic. Representing Dr. Kadil “Jojo” M. Sinolinding Jr., Minister of the Ministry of HealthBARMM, Dr. Ahmad-Fawadz Israel, Director II, Technical Services, shared the minister’s message on improving healthcare access for communities where geography continues to limit essential services. “Many communities across BARMM continue to face significant challenges in accessing healthcare because of distance and geography. The SODEX Floating Clinic allows us to bring family planning information and services directly to our people instead of expecting them to travel long distances for care,” Sinolinding said in his message. “This public-private partnership strengthens our commitment to making quality reproductive healthcare more accessible and responsive to the needs of Bangsamoro communities,” he added.

Family planning DR. HARDY DUMAWING, Program Manager for

National Family Planning, also joined the event on behalf of the Department of Health (DOH). The department emphasized that family planning is an essential component of Universal Health Care, the country’s major health reform aimed at providing every Filipino with accessible and high-quality healthcare. Van Dijk said projects such as the floating clinic help bring services to the “last mile,” contributing to better health outcomes while advancing the country’s efforts to achieve its Sustainable Development Goals. She said the foundation continues to advocate informed choice in family planning while providing Filipinos access to quality reproductive health products and services wherever they are in the country. Since 1991, the foundation has advanced family planning and reproductive health through education, advocacy and partnerships. Powered by TRUST, it reinvests proceeds from TRUST product sales to fund free family planning services and outreach programs for vulnerable, remote and underserved communities. “Every community faces different challenges in accessing healthcare, and our outreach programs are designed to respond to those realities. Our work goes beyond providing services; we continuously look for ways to deliver care that is more accessible, responsive and sustainable for the communities we serve,” said Loida Almendares, director of programs of DKT Philippines Foundation Inc.

n Stay indoors as much as possible and ensure proper ventilation; n Close doors and windows and seal gaps where smoke may enter; n Wear an N95 mask when going outdoors; n Limit prolonged outdoor activities, particularly strenuous exercise, in areas affected by haze; n Regularly monitor air-quality advisories in their area; n Exercise extreme caution when traveling, particularly in areas with poor visibility; n Use headlights or fog lights when driving; n Follow the required minimum speed and exercise extreme caution on the road; and n Ensure that vehicles are in good running condition.

The DOH said that if an N95 mask is unavailable, the public may temporarily use a damp handkerchief or cloth. Double-masking

or folding the cloth twice may also provide an alternative form of protection against inhaling particles, although an N95 mask remains the preferred option when outdoors.

Cover food, drinking water THE public is also advised to keep food and drinking water covered and protect the eyes from irritation while haze persists. The DOH further advised individuals experiencing difficulty breathing, coughing, chest pain, increased tearing of the eyes, or nose and throat irritation to proceed to the nearest health center or hospital for appropriate medical attention. The DOH reminded the public to regularly check official advisories and air-quality conditions in their respective areas and to prioritize their health and safety while the haze persists. “Remember, always prioritize protecting your health,” the DOH said.

Why Junior wears glasses By Maridol Ranoa-Bismark Contributor

ONG ago, children spent much of their free time outdoors, playing with teddy bears, wooden carts and other toys. Parents called them home when dusk approached. Today, things are different. Children spend hours looking at digital screens. They learn their ABCs through tablets, watch videos on YouTube and play games on smartphones. Much to the surprise of parents and grandparents, eyeglasses now frame the faces of many young children.

What happened? COMPUTERS, tablets and smartphones have become part of everyday life. Busy parents may rely on digital devices to keep children occupied, while children are naturally drawn to colorful, moving images that talk, dance, sing and play. Instead of playing outdoors, they may spend hours indoors, absorbed in screens. “You don’t want them dependent on gadgets. They have no interaction. It’s very onesided, and they just watch what’s on screen,” observes pediatric ophthalmologist Dr. Dana Celine Pang. She describes reading books and using tablets and cellphones as forms of “near work” because these activities require the eyes to focus on objects at close range. For children, excessive near work combined with too little time outdoors may increase the risk of developing myopia, or nearsightedness. Genetics also plays an important role, particularly when one or both parents are nearsighted.

How much screen time? THE Philippine Society of Pediatric Ophthalmology and Strabismus has issued recommendations on screen time for infants and children. Except for video calls, children aged zero to two should have no screen time. Children aged two to five should have no more than one hour of screen time a day, under adult supervision. Programs should be age-appropriate, with low stimulation, gentle pacing, simple dialogue and soft colors. Children aged five and older may have up to two hours of quality educational screen time a day. Parents should ensure that the material is free of violence, profane language and other harmful content, and should remain nearby. Distance also matters. Dr. Pang recommends keeping reading and viewing material at about arm’s length from the child’s eyes. Good lighting is also important.

Natural sunlight WHEN it comes to protecting children’s eyes, spending time outdoors is more beneficial than simply being exposed to indoor lighting. “I advise parents to allow their children a lot of time outdoors,” Dr. Pang says. At least two hours of outdoor time a day, without gadgets, is ideal. She recommends activities such as biking, walking, swimming and other sports. Is reading or using a gadget while sunlight streams through a window enough? Not necessarily, Dr. Pang says. Outdoor light is much brighter than typical indoor lighting, and studies suggest that spending time outdoors may help reduce the risk of developing myopia. Children should not stare directly at the sun or remain under intense direct sunlight for prolonged periods. Outdoor play during comfortable hours, such as in the morning or late afternoon, is preferable. Still, parents cannot completely shield

Dr. Dana Celine Pang children from gadgets, which are now part of learning, entertainment and communication.

Protecting young eyes IF a child must read a book or use a gadget, keep it at a comfortable distance—preferably about arm’s length—and make sure the room is adequately lit. Dr. Pang also recommends the 20-20-20 rule. “When you’re doing near activities, your eyes focus on what you’re viewing. The muscles are at work,” she says. To give the eyes a break, children can look at something about 20 feet away for 20 seconds every 20 minutes. They can also briefly close their eyes. Longer periods of screen viewing call for regular breaks as well. Parents should avoid allowing children to use gadgets continuously for hours.

Red flags SOMETIMES, the signs of a vision problem are right in front of parents. Squinting is one warning sign. A child who repeatedly partially closes his or her eyes while reading or looking at something may be having difficulty seeing clearly. Holding books, tablets or other objects unusually close to the face is another red flag. Head tilting and crossed or misaligned eyes may also warrant an eye examination. If a child consistently avoids reading or writing, an underlying vision problem may be affecting the child’s ability or willingness to do these activities. Premature babies and children with one or both parents who are nearsighted may also have a higher risk of developing vision problems.

Eye checkups REGULAR eye examinations are important for children’s visual development. Dr. Pang recommends that children visit a pediatric ophthalmologist before starting school to screen for possible vision problems. Newborns can undergo a quick eye assessment by their pediatrician, while vision screening can also be performed at appropriate ages, including around six months and three years, depending on the child’s development and risk factors. In today’s digital age, protecting children’s eyesight does not necessarily mean eliminating gadgets altogether. It means teaching healthy visual habits: taking regular breaks, keeping screens and books at a proper distance, getting enough outdoor time and having their vision checked when necessary. A little attention today can help protect the way children see the world tomorrow. Dr. Dana Celine Pang holds clinics at Capitol Medical Center on Tuesdays, Fridays and Saturdays, 1 to 4 pm, and at St. Camillus Medical Center, Pasig, on Wednesdays, 10 am to 12 noon.

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Thursday, September 3, 2026

PHL, N. Zealand boost cooperation, eye stronger safeguards for OFWs

HE Philippines and New Zealand have reinforced their ties on migrant labor, pushing for safer, more responsible hiring and protection for Filipino workers. At the Philippines-New Zealand Friendship Week celebration, Secretary Hans Leo Cacdac of the Department of Migrant Workers (DMW) noted that overseas Filipino workers (OFWs) and their New Zealand employers have bridged and reinforced the longstanding ties between the two countries, especially as both mark 60 years of diplomatic relations. “We are carrying on, bolstering, emphasizing, highlighting today the friendship that had long been established before us,” Cacdac said. “This milestone reflects six decades of our cooperation and shared commitment to the welfare and dignity of our peoples.” The secretary cited the signed Memorandum of Agreement on La-

bor Cooperation in 2008, and the Agreement on Principles and Controls for Recruiting and Safeguarding Filipino Workers in New Zealand signed in 2015, which he said laid the foundations for the two countries’ labor partnership. He said these agreements reflect a shared commitment to ethical and responsible recruitment, compliance with both countries’ laws, and protection of Filipino workers throughout migration and employment.

Deep, substantial ties

THE two countries are also discussing further cooperation on safe labor mobility, regular migration pathways, and anti-human trafficking efforts. The DMW chief said that over

SECRETARY Hans Leo Candac and Ambassador Catherine McIntosh FB: DMW/PNA

the years, this bilateral relationship has grown in depth and substance, shaped by broader engagement in the Asia-Pacific and by their shared commitment to regional cooperation, including through Asean. “The Philippines and New Zealand have consistently sought to ensure that labor mobility is conducted in an orderly, responsible, and mutually beneficial manner, with regard for workers’ rights, welfare, and dignity,” he said. Cacdac said more than 100,000

Filipinos live in New Zealand and contribute to the country as healthcare professionals, skilled workers, educators, and tradespeople, serving as “living bridges of the friendship” between the two nations, as they strengthen cultural understanding, economic cooperation, and social ties. Ambassador Catherine Rosemary McIntosh also underscored Filipino migrants’ contribution to New Zealand society. “Filipinos are one of New Zea-

land’s largest and fastest-growing migrant communities. Their dedication, talent, and hard work enrich our workplaces [and communities, while contributing to sectors vital to our] economy, including healthcare, aged care, agriculture, horticulture, construction, hospitality, and education. The list goes on…” she said. Beyond their economic contribution, McIntosh said Filipino New Zealanders have also strengthened communities and people-to-people ties. Meanwhile, the Philippines’ envoy to New Zealand Kira Christianne Azucena said the Philippine government remains focused on the welfare of Filipinos in the Oceanic country, including migrant workers, students, and permanent residents. “We are grateful for the cooperation of the New Zealand government and its agencies in ensuring that our kababayans are treated fairly, with dignity and respect, and are supported in building safe and fulfilling lives [there] together with their families,” Azucena said.

Harmonious relations

CACDAC said both countries’ ef-

After USAID halt, US returns with co‑funded HIV, TB pact By Malou Talosig-Bartolome

HE United States will practically match $1 to every $2.55 the Philippines invests in a new multi‑year bilateral health agreement. The US is committing more than P11.8 billion ($193 million) to the national health care system to strengthen detection, treatment and prevention of HIV and tuberculosis (TB), while bolstering global health security. Un d e r t h e Ph i l i p p i n e ‑ U S Health Strategic Objective Agreement, Manila pledged more than P30 billion ($492 million) in co‑investment over the next five years, marking the resumption of US health aid after the 2025 freeze.

Together, the two countries’ total joint investment would add up to P42 billion ($685 million) that, according to the US State Department, will help transition the Philippines to “greater autonomy and self‑reliance in its health systems while strengthening [its] capacity to detect and respond to global health threats, including HIV, TB, and other infectious diseases.” “This agreement marks a new, five‑year phase of bilateral cooperation and joint investment with the Philippine Department of Health,” the US Embassy said in a statement. The embassy highlighted that the US has been providing health aid in the Philippines for over 60 years.

That assistance—along with other development projects—was halted after the Trump administration’s freeze. USAID’s dismantling cut off about $34.7 million in President’s Emergency Plan for AIDS Relief/USAID support for the Philippines’ HIV response in 2025. Broader suspensions tied to the aid freeze disrupted up to $168 million in Department of Health programs covering the abovementioned diseases. Unlike earlier USAID‑backed portfolios, the new bilateral accord appears to have excluded malaria programs, narrowing its scope to HIV and TB alongside health system resiliency. “ T he a g reement w i l l s ave

American and Filipino lives, increase the resiliency of the [national] health system through coord inated co ‑f und ing , a nd promote innovations to slow the spread of infectious diseases, like TB and HIV, that threaten both the US and the Philippines,” the embassy added. It described the agreement as “a milestone in the Trump administration’s ‘America First Global Health Strategy,’” underscoring the shift toward bilateral, co‑financed partnerships rather than open‑ended grant aid. Ambassador Lee Lipton signed the pact, highlighting the administration’s move away from the USAID‑driven model that dominated for decades.

Embassy in France supports Filipino film creatives’ participation in Cannes

ARIS—Recognized as the world’s leading film market, the Marché du Film serves as a vital platform for international film exhibition, co-production, financing, and distribution, bringing together key players from the global film industry. The platform serves as a key venue for Filipino and Singaporean filmmakers, producers, and industry representatives to hold business meetings, expand professional networks, and explore collaboration opportunities with the international film community. This year, the Philippines is showcasing six production companies as part of the Filipino delegation, reflecting FDCP’s continued commitment to elevating local cinema on the global stage. Several Filipino films are also featured in both the festival’s exhibition and competition sections, as well as in the Marché du Film. As part of its cultural diplomacy initiatives, the Embassy in Paris supports the FDCP delegation in engaging with French and international stakeholders both in the artistic and diplomatic fields. The

FDCP Project Development Officer Jo Andrew Torlao (right) presented the agency’s programs and the Filipino film entries in Cannes 2026 to Ambassador Eduardo de Vega.

embassy also discussed prospective collaborative projects with FDCP in connection with the upcoming 80th anniversary of Philippines-France

diplomatic relations in 2027. Through these initiatives, the Philippine Embassy in Paris joins FDCP in expressing optimism that sustained

international engagement and collaboration will further strengthen the global presence and recognition of Philippine cinema.

forts to strengthen labor cooperation should also focus on workers’ welfare rather than deployment numbers alone. “Ultimately, the success of labor migration should not be measured only by the number of workers abroad,” he explained. “It should be measured by whether these opportunities are decent, fair, safe, and empowering, and whether workers can contribute to their host communities while enjoying the protection and respect they so deserve alongside harmonious relations with their employers.” A son of a former OFW, Cacdac recalled Filipino families’ hopes and aspirations when a member decides to work abroad. He noted that such decisions can bring “hopes and dreams, aspirations, and fulfillment.” “May this 60th anniversary in our Friendship Week serve not only as a celebration of shared accomplishments, but as a renewed commitment to the work ahead, as we continue to build a labor partnership founded on mutual respect, shared responsibility, human dignity, and shared prosperity,” he said. Marita Moaje/PNA

ARIGATO GOZAIMASU! In his

farewell call on August 25, Ambassador Kazuya Endo expressed his sincere gratitude to Secretary of Foreign Affairs Ma. Theresa P. Lazaro for her leadership and steadfast partnership in further deepening Japan-Philippines relations. For her part, Lazaro conveyed her appreciation for the ambassador’s contributions to strengthening the longstanding partnership between the two countries. The two sides reaffirmed their commitment to further strengthening bilateral relations under the Comprehensive Strategic Partnership. They also exchanged views on a range of issues, including their governments’ cooperation in the region.

Energy security key area for UK-Phil. collaboration

HE British Chamber of Commerce Philippines (BCCP) highlighted renewable energy and the move toward decarbonization as vital areas for stronger investment cooperation between the United Kingdom and the Philippines, pointing to growing opportunities in offshore wind and sustainable infrastructure. In an interview, Executive Vice Chairman Chris Nelson of the BCCP emphasized the importance of expanding renewable energy as the Philippines continues to pursue sustainable economic growth. “There is…a need here to boost your renewable energy. There is already a desire to be over 50 percent,” Nelson explained. “Hopefully, we’re in a short-term volatility with oil prices. But clearly, any country…becomes very susceptible to those inflationary pressures.” The chamber also highlighted the blue economy’s potential as a complementary area for sustainable growth. As a country with extensive marine and coastal resources, the Philippines has significant opportunities to develop sectors such as marine conservation, sustainable fisheries, and other ocean-based sectors. During a recent visit to Manila, the UK’s Trade Commissioner for Asia Pacific Martin Kent underscored the importance of Southeast Asia to the economic strategy of the United Kingdom and its efforts to deepen trade and investment ties across the region, highlighting opportunities for stronger commercial cooperation between the UK and the Philippines, including in decarbonization, renewable energy, and digital development. For Kent, these are “exciting times” for UK-Asia-Pacific trade: “We have an enormous amount of energy and emphasis across sectors, but [I would highlight] ‘the 3 Ds’: defense and security,

decarbonization, and digital. They are the three sectors where we’ve seen so much demand from this region that [UK businesses can’t quite provide enough to meet that].” He added that on the decarbonization side, “we’ve seen an impressive global demand to move toward renewables.”

Transition to renewable

BCCP noted that these priorities align with the growing opportunities in the renewable energy sector in the Philippines, where British companies and investors are already participating in major clean energy developments. The country has attracted significant UK-backed investment in renewable energy. London-based infrastructure investor Actis has committed to invest in the Terra Solar Project. At the same time, UK-backed investments have also supported the growth of Citicore Renewable Energy Corporation and renewable energy projects nationwide. For the chamber, rising interest toward transitioning to renewable energy and the blue economy represent greater interwoven opportunities for investment and long-term growth between the UK and the Philippines. Renewable energy can support energy security and a lowercarbon transition. Sustainable development of marine and coastal resources can strengthen environmental resilience, while also creating new economic opportunities for the country. As the UK continues to deepen its economic engagement with the Philippines and Southeast Asia, BCCP expressed a stronger commitment among government, business, and investors to help mobilize the capital and expertise needed to support the country’s clean and sustainable growth agenda.

Thursday, September 3, 2026

Happiest Pinoy wins Stevie® for celebrating the strength of the Filipino spirit word bronze

appiest Pinoy, Cebuana Lhuillier’s flagship advocacy celebrating Filipino resilience, optimism, and joy, has been named a Bronze Stevie® Winner for Achievement in Corporate Social Responsibility at the 23rd Annual International Business Awards®. Known as the “International Stevies,” the awards are among the world’s major business honors, drawing more than 3,400 nominations from organizations across 82 nations and territories. More than 210 professionals evaluated winners across 11 specialized judging panels.

For Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier, the recognition underscores the role of optimism in creating meaningful social impact. “Happiest Pinoy was built on a simple belief: that optimism is not just a mindset, but a powerful force that can shape communities and inspire action. By celebrating the everyday ways Filipinos choose hope and happiness, we hope to spark a ripple effect, one that encourages more people to lift each other up and see the possibilities ahead.” The 2025 search drew more than 500,000 entries nationwide, expanding its categories to celebrate the many faces of Filipino joy—from upbeat Gen

Zs and inspiring seniors to persons with disabilities, OFWs, entrepreneurs, artists, Indigenous communities, LGBTQIA+ advocates, and everyday Ka-Cebuanas whose stories show that happiness can be found in every generation, community, and walk of life. Happiest Pinoy also moved beyond a traditional competition through a nationwide roadshow that brought the advocacy directly to communities. Cebuana Lhuillier engaged student leaders, school heads, local tourism champions, media partners, local government representatives, and marginalized sectors, widening participation and creating opportunities for more Filipinos to share their stories. Entries were accepted online, through video, and at Cebuana Lhuillier branches, making the search accessible to Filipinos across the country. A distinguished panel of judges from government, business, sports, media, and social development brought together diverse experiences and perspectives on overcoming challenges and making a difference in others’ lives. Together, they assessed the finalists not only for their resilience and optimism, but also for the impact, authenticity, and purpose behind their stories.

Zacarias Mansing Jr., a literacy and disability inclusion advocate, emerged as the overall winner from among 10 national category winners, taking home the P500,000 grand prize. After an accident left him paralyzed, Mansing transformed his experience into a mission to advance literacy and disability inclusion, reaching more than 50,000 students across 300 remote public schools in Negros Oriental through his Books for Kids Project. The advocacy has recently expanded into the digital space through #SimpleJoysPH, turning the celebration of happiness into an ongoing movement that can be experienced and shared year-round. Across online platforms, people celebrate the moments that make life meaningful like family milestones and personal wins to simple acts of kindness. Building on the spirit of Happiest Pinoy, #SimpleJoysPH takes the celebration beyond the annual competition, creating more ways to express and inspire everyday joy through meaningful stories, a songwriting contest, and a dance challenge. The Bronze Stevie® recognizes Happiest Pinoy’s evolution from an annual search into a broader advocacy, one that continues to reach more Filipinos, amplify stories of strength and purpose, and celebrate the everyday optimism that makes the Filipino spirit shine.

Built for new realities: Concentrix Philippines introduces Performance Engineering Team

ONCENTRIX Philippines has introduced the Performance Engineering Team (PET), a strategic capability designed to help clients and teams respond faster to new realities and changing demands in customer experience, operations and workforce performance. More than an organizational change, PET represents a new discipline focused on engineering performance through the integration of learning, quality, analytics, governance, technology, and AI-driven insights. The initiative reflects Concentrix’s belief that real transformation begins within and demonstrates how the company continues to evolve the way it delivers measurable outcomes for clients. Built around the theme “Built for New Realities,” PET embodies a fundamental shift from traditional, siloed functions toward a connected performance ecosystem where data, operations, governance, and capability development work together to create intelligent performance. “At Concentrix, we help our clients and people navigate new realities every day. Performance can no longer be managed through isolated functions; it must be engineered through the seamless integration of people, process, data, technology and governance. PET allows our learning and quality teams to leverage technology to deliver predictive insights and more precise and agile interventions. It is helping us shift from reacting to problems to anticipating and preventing them. PET moves us beyond activity-based measures and focuses us on what truly matters: driving meaningful outcomes, accelerating performance and adding value for our clients and people. This demonstrates our commitment to embracing transformation ourselves. It is not just a reorganization; it is an evolution in how we work to create intelligent performance,” said Larah Sta. Maria, Vice President for Transformation and Shared Services at Concentrix Philippines. The PET is guided by four core principles: Performance is engineered – not managed – designed to accelerate measurable outcomes Functions and technology are integrated, not siloed AI-driven insights are designed to improve predictability, and guide transformation decisions and actions Governance enables confidence and agility Through PET, traditional disciplines are being reimagined for today’s environment. Learning evolves from course delivery to performance acceleration. Quality and analytics move from monitoring performance to generating actionable intelligence. Governance expands beyond compliance to build trust, resilience, and operational excellence. Together, these capabilities create a unified ecosystem powered by AI, data

Five habits that set successful entrepreneurs apart from the rest

PHL faith leaders join 3,000 worldwide to defend religious freedom, due process

HILIPPINE pastors and other Christian delegates joined about 3,000 religious leaders worldwide in a global call to defend religious freedom, equality, human dignity and due process. The Philippine gathering brought together 374 participants through onsite and online sessions held in three locations across the country recently. The Philippine participation was part of the 1st Joint Assembly of World Pastors, organized by the Council for Christian Mutual Growth (CCMG), Korea Christian Leaders Training Institute (KCLTI), and Pastors Alliance for Life and Human Rights (PAFHLR). The global assembly was held in South Korea on August 13, 2026. Under the theme “Defending Religious Freedom and Christian Innovation,” participants called for

greater cooperation across denominational lines under the banner “One Body. One Voice. One Mission. Advancing Peace Through God’s Word.” Its three central calls were “Global Fellowship,” “Defend the Truth,” and “Innovate for the Kingdom.” The global gathering drew about 3,000 religious leaders from Korea and other countries, excluding Philippine participants, with leaders from countries including Russia and Zambia. Organizers said the participation underscored that religious freedom and human dignity extend beyond any single denomination or nation. A major focus was the situation in South Korea involving the detention and trial of a 95-year-old religious leader, Chairman Lee Man-hee of Shincheonji Church of Jesus. Participants stressed that judicial

decisions must rest on law, evidence and due process, rather than public pressure or religious differences. “Public opinion must never replace evidence, truth, and due process,” the joint declaration stated, warning that discrimination against one religious community can put everyone’s religious freedom at risk. Rev. Im Young-woong, senior pastor of Saehimang (New Hope) Church of the Presbyterian Church of Korea, also questioned calls to dissolve religious corporations, asking whether a standard applied to one religious organization could eventually be used against another. Bishop Elias Elijah Changa, founder and president of the Zambia-based Missionary Ambassadors for Global Evangelism, said that acknowledging Chairman Lee Manhee’s peace-building and interfaith activities through Heavenly Culture, World Peace, Restoration of Light does not mean exemption from the law, stressing that any judgment should be based on law and evidence alone, not disagreement with his religious beliefs. Organizers also raised concerns over what they described as threats to religious freedom and the separation of church and state in South Korea, emphasizing that the issue should not be viewed as the concern of one denomination alone. For Philippine participants, the assembly affirmed a shared responsibility among Christian leaders worldwide to protect religious freedom, human dignity and due process for all, while strengthening cooperation in advancing peace.

Country’s longest-running celebrity golf tournament returns: 23rd iGAN Cup sets the greens on September 7

EEING off for a legacy of compassion and sportsmanship, the Igan Ng Pilipinas Foundation, Inc. is gearing up for the 23rd iGAN Cup, proudly carrying forward its title as the longest-running celebrity golf tournament in the country. The much-anticipated charity sporting event is set for September 7, 2026, at the prestigious Eastridge Golf and Country Club in Binangonan, Rizal. Led by Foundation Founder and President Arnold “Igan” Clavio, the annual tournament has become a premier tradition that unites civic-minded golfers, beloved celebrities, media personalities, and generous corporate partners for a day of friendly competition with a profound social impact. As organizers enter the final stretch of preparations, the focus remains firmly on the event’s core mission: “Fore! A Cause… Fore! D’ Kids.” Proceeds from this year’s tournament will directly address an escalating volume of urgent medical and financial assistance requests for young beneficiaries, placing special emphasis on children battling critical medical conditions like juvenile diabetes. Over more than two decades, the iGAN Cup has proven

that sports can be a powerful vehicle for change. With the event just around the corner, the Foundation extends its deepest gratitude to its partners who continue to stand by them. Every swing taken on the course translates to a vital lifeline and renewed hope for a child in desperate need of medical care. Participating golfers will have even more reason to aim for perfection on the green, with incredible Hole-InOne prizes up for grabs courtesy of our generous partners: One unit of brand new GetGo-2 seater standard golf cart, P100,000 worth of K & G items, One Triumph Scrambler 400x Motorcycle by Autohub Group, P100,000 worth of 3 Strokes merchandise, P100,000.00 worth of Free Play sponsored by Casino Filipino. The success of this historic milestone is made possible through the overwhelming generosity and steadfast support of IGAN CUP’s valued sponsors: (Platinum Sponsors) Philippine Charity Sweepstakes Office and EM CORE (Gold Sponsors) Andok’s, Converge, Hotel Sogo, Zel’e Wellness Center, Unilab, DepEd, National Grid Corporation of the Philippines, United Auctioneers,

and Champion (Silver Sponsors) Arlo Aluminum Co., One Meralco Foundation, New San Jose Builders, Nickel Asia Corporation, Philippine Amusement and Gaming Corporation, Philippine Exporters Confederation, Inc., Shell Pilipinas Corporation, SM Prime Holdings, Inc., Stradcom Corporation, Uno Plus, Petron Corporation, Royal Northwoods Golf Club, Inc., San Miguel Corporation, SM Investments Corporation, Aeternitas, Nature Earth, Pag-IBIG Fund, RFM Corporation, Kayak Construction Corp. and Pascual Consumer Healthcare Corp. (Media Partners) Pitchworks, Inc., BusinessMirror, and Real Sports. The tournament features a double shotgun format with morning flights at 6 am and afternoon flights at 12 noon. The day will culminate in an exclusive awarding and fellowship ceremony celebrating tournament champions, celebrity participants, and dedicated sponsors. The foundation invites golf enthusiasts, corporations, and donors to be part of this momentous event. For sponsorship inquiries, partnership details, or to support the cause, please contact the foundation through the numbers 0906-5078075 and 02-84753199.

and human judgment. This transformation also strengthens Concentrix’s broader New Realities narrative, which recognizes that companies driving intelligent transformation must continuously adapt to changing customer expectations, technological advancements, and increasingly complex business environments. PET serves as a tangible example of how Concentrix is applying those same principles internally, reinforcing the company’s commitment to innovation and intelligent transformation. In early deployments, PET has produced measurable gains across the disciplines it integrates. Within pilot accounts this year, Concentrix Philippines observed up to 20% faster speed to proficiency, up to 30% greater capacity for high-value work, up to 8% improvement in quality scores, and sameday issue detection with up to 30% faster resolution. These results reflect internal Concentrix Philippines measurement of participating programs during the period indicated and are not a guarantee of future results; outcomes vary by program, client, and operating environment. As organizations increasingly seek partners that can deploy AI at scale and deliver measurable impact rather than isolated services, PET positions Concentrix to further demonstrate how integrated performance engineering can drive stronger business results, operational agility, and enhanced customer experience.

strengthens your business.

Build relationships that last

OR many independent business owners and entrepreneurs across the Philippines, success isn’t built overnight. It’s built through consistent habits that compound over time. As more Filipinos explore entrepreneurship, whether by starting small businesses or building online ventures, developing the right habits has become increasingly important for achieving success. With the Global Entrepreneurship Day recently taking place, it was an ideal time to reflect on the daily disciplines that drive long-term business growth and resilience. For Kinki Lau, General Manager of Herbalife Philippines, entrepreneurship today looks different than it did even a decade ago. “More people are turning their passions into businesses and redefining what success means for them,” said Lau. “They’re approaching entrepreneurship with optimism, creativity and a desire for greater control over their future.” For Lau, optimism alone doesn’t create a thriving business. The entrepreneurs who succeed, whether they’re running full-scale companies or managing side hustles, are those who turn big goals into daily disciplines. Here are the habits Lau has seen time and again in the people who don’t just start strong but stay strong. Start each day with intention. Successful entrepreneurs begin their day with purpose. They plan their priorities before distractions take over. Many consistent leaders start each morning by reviewing their goals and connecting with a few clients, partners, or colleagues. Those simple routines create early momentum and set the tone for the rest of the day. When you begin with intention, every action, no matter how small, moves you closer to your goals. For example, write down your top three priorities before opening your laptop and commit to finishing them before noon.

Stay curious and keep learning

The best entrepreneurs never stop learning. They’re open to new skills, perspectives, and ideas that help them grow personally and professionally. In today’s fast-changing environment, curiosity is essential. Whether it’s attending a training, learning from a mentor, or exploring new ways to serve customers, continuous learning keeps you adaptable and confident. When you approach every challenge with curiosity, even setbacks become opportunities to grow. Set aside 30 minutes each week to read, listen, or learn something that

Strong relationships are the foundation of any successful business. Great entrepreneurs lead with care, empathy, and authenticity. The most effective leaders spend time understanding their customers and teams. They listen, follow up, and genuinely invest in people’s success. Over time, those individual connections grow into a community built on trust, support, and shared purpose. Business has always been about people. Successful entrepreneurs understand the power of community and how it can inspire growth, resilience, and long-term success. When you focus on connection before transaction, you create loyalty that lasts far beyond a single sale. This week, take a few minutes to reach out to three people, such as clients, partners, or colleagues to check in and reconnect. A simple conversation can strengthen relationships and remind others that you are in their corner.

Stay consistent when it’s hard

Every entrepreneur faces challenges such as slow periods, selfdoubt, or shifting goals. What sets successful people apart is that they keep showing up. Consistency doesn’t mean working nonstop. It means honoring your commitments and staying focused even when it’s uncomfortable. Over time, steady effort builds trust, credibility, and results. When things get tough, remember that progress often happens quietly, one consistent day at a time. Track your weekly activity, including outreach, meetings, or milestones, and focus on effort, not just outcomes.

Celebrate progress along the way

Entrepreneurs tend to be goal-driven, but success isn’t only about reaching the finish line. It’s also about recognizing the growth that happens along the journey. Taking time to celebrate small wins, whether it’s having a productive week or reaching a milestone, helps reinforce motivation and gratitude. When you make progress visible, you remind yourself and your team that every step counts. At the end of each week, take a moment to write down one win and one lesson learned—not only to reflect on your progress, but also to appreciate how far you’ve come and gain a fresh perspective. Today’s entrepreneurs are more diverse, tech-savvy, and purpose-driven than ever before. More Filipinos are creating their own paths and redefining what success looks like. “I have seen these same habits drive lasting success among the entrepreneurs I work with every day. They prove that consistency, curiosity, and connection aren’t just business strategies; they’re the foundation of longterm growth,” said Lau. “No matter where you are in your journey, success begins with showing up, learning continuously, and leading with purpose,” she added.

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Editor: Gerard S. Ramos • Thursday, September 3, 2026

HOW TO RESET YOUR CHILD’S SLEEP SCHEDULE FOR BACK-TO-SCHOOL SEASON

NEW YORK—After a summer of vacations and late nights, it’s time to set those back-to-school alarms. A good night’s sleep helps students stay focused and attentive in class. Experts say it’s worth easing kids back into a routine with the start of a new school year. “We don’t say ‘ get good sleep ’ just because,” said pediatrician Dr. Gabrina Dixon with Children’s National Hospital. “It really helps kids learn and it helps them function throughout the day.” The amount of sleep kids need changes as they age. Preschoolers should get up to 13 hours of sleep. Tweens need between nine and 12 hours. Teenagers do best with eight to 10 hours of shut-eye. n SET AN EARLIER BEDTIME. Early bedtimes can slip through the cracks over the summer as kids stay up for sleepovers, movie marathons and long plane flights. To get back on track, experts recommend setting earlier bedtimes a week or two before the first day of school or gradually going to bed 15 to 30 minutes earlier each night. Don’t serve a heavy meal before bed and avoid TV or screen time two hours before sleep. Instead, work on relaxing activities to slow down, like showering and reading a story. “You’re trying to take the cognitive load off your mind,” said Dr. Nitun Verma, a spokesman for the American Academy of Sleep Medicine. “It would be like if you’re driving, you’re slowly letting go of the gas pedal.” Parents can adjust their back-to-school plans based on what works best for their child. Nikkya Hargrove moves her twin daughters’ bedtimes up by 30 minutes the week before school starts. Sometimes, her kids will negotiate for a few extra minutes to stay up and read. Hargrove said those conversations are important as her children get older and advocate for themselves. If they stay up too late and don’t have the best morning, Hargrove said that can be a learning experience, too. “If they’re groggy and they don’t like how they feel, then they know, ‘OK, I have to go to bed earlier,’” said Hargrove, an author and independent bookstore owner from Connecticut. In the morning, soaking in some daylight by sitting at a window or going outside can help train the brain to power up, Verma said. n SQUASH BACK-TO-SCHOOL SLEEP ANXIETY. Sleep quality matters just as much as duration. First-day jitters can make it hard to fall asleep no matter how early the bedtime. Dixon says parents can talk to their kids to find out what is making them anxious. Is it the first day at a new school? Is it a fear of making new friends? Then they might try a test run of stressful activities before school starts to make those tasks feel less scary — for example, by visiting the school or meeting classmates at an open house. The weeks leading up to school can be jam-packed and it’s not always possible to prep a routine in advance. But kids will adjust eventually, so sleep experts say parents should do what they can. After all, their kids aren’t the only ones adjusting to a new routine. “I always say, ‘Take a deep breath, it’ll be OK,’” Dixon said. “And just start that schedule.” AP

ANDOK’S EXPANDS MENU WITH ‘DOKITORI,’ MEETS GROWING DEMAND FOR ON-THE-GO MEAL FORMATS

LONG recognized across the Philippines for its familystyle Litson Manok, homegrown food chain Andok’s has announced the launch of Dokitori, an all-new Super Chicken BBQ Stick designed for fast-paced, on-the-go consumption. Joining Andok’s established Pork Kasim and Liempo BBQ offerings, Dokitori completes the company’s skewer portfolio by bringing a dedicated chicken option to its individual meal menu. The launch signals the brand’s adaptation to a rapidly evolving food service market, particularly busy solo diners seeking convenient and budget-friendly choices. The move comes as consumer dining habits increasingly lean toward accessible, single-portion formats driven by students, young professionals, and office workers navigating packed daily schedules. At P65 per stick, Dokitori delivers Andok’s signature charcoal-grilled profile in an accessible skewer, as well as a complete boxed rice meal. “Filipinos are always looking for quick, affordable meals that fit their daily rush,” said Maverick Leonardo Javier, president of Andok’s Litson Corp. “We created Dokitori not just to expand our barbecue line, but to provide our customers with more options to conveniently enjoy our signature charcoal-grilled taste—whether as a sit-down meal or on-the-go.” Established in 1985, Andok’s has grown into a cornerstone of Filipino food culture, operating over 300 outlets nationwide today. By diversifying its portfolio beyond traditional whole-chicken takeaway options with versatile offerings like Dokitori, the brand continues to solidify its domestic presence while setting its sights on international markets, building on the initial success of its overseas expansion in Singapore.

BEA ALONZO-CO alongside the executives of Birch Tree and other guests

Strong from within: Why parents need to nourish themselves too O

NE of the biggest misconceptions about parenting is that caring for ourselves can wait. We gladly lose sleep for a sick child, skip our own medical appointments because the family schedule is full, and tell ourselves we’ll eat better, exercise tomorrow, or finally make time for ourselves “next month.” Somewhere between preparing our kids for school, attending activities, juggling work, and taking care of everyone else, our own health quietly moves to the bottom of the list. As parents, especially once we reach our 30s and beyond, we often become so focused on helping our children grow that we forget we are growing older too. The reality is that our nutritional needs also change with age. We may notice that our energy is no longer what it used to be. I have always believed that one of the greatest gifts we can give our children is not perfection—it is presence. And staying present for the milestones ahead means taking care of the body that carries us through parenthood every single day. This is why I found the newest Birch Tree Adult Boost with Collagen timely. Designed for adults, the powdered milk drink combines everyday nutrition with nutrients that support both body and skin health, recognizing that adults need different

nutritional support as life becomes busier and the body’s needs naturally change. Its GlowStrong Formula contains 3,000 mg of hydrolyzed collagen peptides together with Biotin, Vitamins C and E to support skin health, while Calcium and Vitamin D help support bone strength. It is also formulated to be low in fat and low in sugar, making it easy to incorporate into a daily routine. Nutrition experts remind us that collagen is the body’s most abundant protein, supporting the skin, bones, muscles, joints, and connective tissues. Natural collagen production gradually decreases as we age, which is why maintaining balanced nutrition becomes increasingly important. While collagen supplementation continues to be studied, health experts agree that it works best alongside an overall healthy lifestyle that includes nutritious meals, adequate sleep, and regular physical activity. I appreciate that this conversation is not simply about looking younger. It is about remaining strong enough to keep doing the things that matter most— strong enough to carry a sleeping toddler from the car; strong enough to cheer from the sidelines during basketball games and fencing competitions; strong enough to travel with our families, celebrate milestones, and continue making memories. Because the healthiest parents are often the ones who are able to keep showing up—not only physically, but emotionally as well. This same message was highlighted during Preview Conversations with Birch Tree Adult Boost, held last August 13 at Bonifacio Hall in Shangri-La The Fort. The afternoon centered on conversations about wellness, beauty, strength, and aging gracefully in a warm, self-care-inspired environment. One of the event’s highlights was actress and brand ambassador Bea Alonzo-Co, who spoke candidly about navigating busy schedules, making self-care

a priority in her 30s, and choosing age-appropriate nutrition that helps her stay confident and glowing each day. Guests also participated in interactive wellness sessions where they experienced Birch Tree Adult Boost with Collagen firsthand while learning about its combination of collagen and calcium. As Greg Banzon, executive vice president and COO of Century Pacific Food Inc., shared, “With Birch Tree Adult Boost, we are taking another step toward that ambition of helping Filipinos perform at their best today, so they can continue living at their best for many years to come. With Birch Tree Adult Boost with Collagen, we’re showing that you can support both your inner health and outer beauty in one easy step. We are turning a simple drink into a rewarding daily ritual—one that doesn’t just taste delicious, but also delivers essential nutrients like Collagen, Calcium, and Vitamins C, D, E.” His words reminded me of something we often overlook as parents: our children are constantly learning from what we model. When they see us making healthier food choices, finding time to move our bodies, drinking enough water, getting adequate rest, or nourishing ourselves consistently, they begin to understand that taking care of one’s health is not an occasional luxury but a lifelong habit. Harvard Health reminds us that as we age, good nutrition, together with regular movement, supports healthy bones, muscles, and long-term well-being. Caring for our “i-Parent” is not a luxury—it is one of the most loving ways we can remain strong, present, and joyful for the family we cherish. Let us look forward to their graduations, first job, their own weddings, or even becoming grandparents one day. After all, our families do not simply need parents who are always busy taking care of everyone else. They need parents who are healthy enough to keep walking beside them—for many years to come, with no limits.

WORLD VISION CALLS FOR A WORLD WHERE #GIRLSCAN CLAIM THEIR SPACE, LEARN, LEAD AND THRIVE WORLD Vision Philippines (www.worldvision.org.ph) is calling for greater support and opportunities for girls as it marks the eighth year of its Girls Can Campaign, an initiative that aims to empower girls to learn, lead, thrive and confidently claim their space in the world. The organization recently held the Girls Can Campaign launch at Gateway Mall 1 in Quezon City, where World Vision ambassadors, advocates and child sponsors came together for a day of conversations and activities promoting girl empowerment and creating spaces where girls can dream, speak up, and be heard. The event opened with a call from Jun Godornes, World Vision Philippines resource development director, inviting everyone to sponsor a girl. “With our support, girls can. They can say no as well—say no to early marriage, say no to abuse, say no to exploitation, and say no to anything that tells a girl that she has to give up her future because of her circumstances today. So dito po pumapasok ’yung child sponsorship, because it doesn’t help just one child, it helps transform an entire community. Your support contributes to solutions that address education, health, child protection, livelihood, and other barriers created by poverty.” Many Filipina girls and women today are proving that they can be anything they set their minds to—from becoming leaders and advocates to creating art, building businesses, pursuing careers, and shaping their communities. Yet despite these strides, gender bias and stereotypes continue to influence the opportunities available to girls and women. For girls growing up in vulnerable communities, these

challenges can be magnified by poverty, limited access to opportunities, and the risk of violence and exploitation. The gap becomes particularly evident as girls transition into adulthood. According to a 2026 study by the Philippine Statistics Authority (PSA), only 52.8 percent of Filipino women were part of the labor force, compared with 73.7 percent of men. Gender expectations at home may also influence women’s economic participation. A 2024 PSA study

found that women accounted for 11.3 percent of unpaid family workers, compared with just 4.7 percent of men. These realities underscore why World Vision, a Christian humanitarian organization, continues to amplify the voices and potential of girls through the Girls Can Campaign— working toward a world where girls have the opportunity and support to claim their space, learn, lead and thrive. The program launch included talks from Evangeline Caseres, Gender Equality, Disability, and Social Inclusion (GEDSI) Advisor of World Vision Philippines; World Vision ambassador and journalist Jacque Manabat; and awardwinning actress and World Vision ambassador Jasmine Curtis-Smith, who shared how her own family shaped the way she and her sister learned to recognize their voices, set boundaries, and challenge expectations placed on women. “One woman’s freedom changes the next girl’s starting point,” shared Jasmine. “Our mother setting her own boundaries eventually taught myself and my ate that our voices matter. Na pwede kami magsalita pag ayaw namin, at pag hindi tama ang pagtrato sa amin.” The program launch concluded with a #GirlsCan Commitment Pledge, led by Jasmine Curtis-Smith. She was joined by the Binibining Pilipinas Queens, fellow World Vision ambassadors, and World Vision representatives for a collective commitment to creating a future where every girl can learn, lead, thrive, and claim her space. Inspire girls to claim their space and achieve their full potential by joining World Vision’s call for sponsorships. Help change a young girl’s life for as little as P30 a day or P900 a month through child sponsorship.

WORLD Vision ambassador Jasmine CurtisSmith is calling for greater support and opportunities for the organization’s Girls Can Campaign.

Thursday, September 3, 2026

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House seen to complete presentation of confi-funds misuse evidence soon By Jovee Marie N. dela Cruz

@joveemarie

HE House of Representatives prosecution team is expected to complete its presentation of evidence regarding Vice President Sara Z. Duterte’s alleged misuse of confidential funds next week. Manila Rep. Joel Chua, a member of the prosecution team, said the presentation of evidence in the first Article of Impeachment will completed before moving to the next issue in the complaint. “Hopefully, by next week, the confidential fund [misuse] presentation will be finished and we will move on to the next article, [three on bribery and graft, alleging the misuse of funds to circumvent procurement laws within the DepEd],” Chua said. He said only a few witnesses remain before the prosecution concludes its presentation, including Edward Fajarda, who previously served as special disbursing officer of the Department of Education (DepEd) during Duterte’s term as education secretary and handled its confidential funds. The prosecution also decided not to present two additional

military witnesses, saying their testimonies would only repeat information already provided by other witnesses. The two witnesses removed from the prosecution’s list were Lt. Col. Carlos Sandaan Jr. and retired Maj. Gen. Adonis Bajao. Chua explained that the testimonies of Cols. Manaros Boransing II and Magtangol Panopio from the Armed Forces (AFP) had already sufficiently covered the military certifications connected to the alleged misuse of confidential funds. Boransing and Panopio testified regarding certifications related to the Youth Leadership Summits (YLS) and Information Education Communication activities conducted in 2023. These documents were submitted by DepEd to the Commission on Audit (COA) as supporting documents for the

reported use of P15.54 million in confidential funds. During his testimony, Boransing stated that the First Infantry “Tabak” Division of the Army did not receive any funds from DepEd for the activities covered by his certification. He explained that the Army’s expenses mainly involved coordination and representation costs, while other expenses were handled by local governments and partner organizations. Boransing estimated that the Army’s expenses for the eight Youth Leadership Summits in 2023 ranged from P30,000 to P60,000 per activity. He said the majority of expenses involved meals, accommodations, uniforms, and team-building activities provided by local governments. The eight activities involved around 500 participants. Senator-Judge Paolo Aquino questioned the difference between the estimated costs of the activities and the P15.54 million reported by DepEd as confidential fund expenditures. The funds were reportedly used for YLS and Information Education Communication activities as part of DepEd’s efforts to prevent the recruitment of teachers and students by terrorist and insurgent groups. When asked about the actual amount spent by DepEd for the

activities, Boransing said he was not aware of the total cost. Panopio also clarified that his certification only confirmed that Youth Leadership Summit activities had taken place within his unit’s area of responsibility. He emphasized that the document did not certif y any financial transaction. “Our certification was only for confirming that we conducted the Youth Leadership Summit. We did not certify anything about money or funds,” Panopio said. T he defense acknowledged that no confidential funds were transferred from DepEd to the Army or the Armed Forces for the Youth Leadership Summit and Information Education Communication activities covered by the certifications. However, the defense did not agree with other points raised by the prosecution, which resulted in Panopio appearing as a witness. The prosecution is presenting evidence under Article I of the impeachment complaint, which involves allegations of misuse, misappropriation, and irregular liquidation of P612.5 million in confidential funds. The amount includes P500 million released to the Office of the Vice President and P112.5 million allocated to DepEd during Duterte’s term as Education secretary.

Nartatez tells cops to heighten presence during ‘-ber’ months By Rex Anthony Naval

ITH the “-ber” months now u nder way, t he National Police (PNP) Chief, Gen. Jose Melencio Nartatez Jr., on Wednesday directed police units nationwide to step up presence and patrols in areas expected to draw larger crowds as the country transitions into its traditional long Christmas season. In line with this, Nartatez ordered regional and city police offices to heighten police visibility, patrols, and monitoring in commercial establishments, transport terminals, markets, and other

public places where people are expected to converge. “I have directed police units to strengthen visibility, patrols and monitoring in areas where people are expected to converge, particularly commercial establishments, transport terminals, markets, and other public places. Our priority is to prevent crimes before they happen and ensure a safe and peaceful holiday season,” Nartatez said. The “-ber” months started on September 1, kicking off the Philippines’ long Christmas season when shopping, travel, family gatherings and other holiday activities are expected to increase.

Nartatez called on the public to remain alert against crimes that could take advantage of increased consumer activity, cash transactions, and travel. “The public should remain vigilant against theft, robbery, scams, and other crimes that may take advantage of increased shopping, cash transactions, and travel during the holiday season. We also remind everyone to secure their belongings, avoid sharing real-time locations online, and immediately report suspicious activities to the police,” he said. The PNP will also increase patrols in crime-prone areas and

communities where holiday activities are expected to increase. Police units are likewise expected to maintain close coordination with local authorities and other stakeholders to address emerging security concerns. Nartatez said the police and the public must work together to keep communities safe throughout the Yuletide Season. “We want the people to enjoy the Christmas season with their families, but we also ask everyone to remain alert and take simple precautions. Crime prevention is a shared responsibility between the police and the community,” he said.

Hours-long Nlex gridlock adds to Pampanga flooding woes By Ashley J. Manabat

OR 20-year-old college student Ayescha Pantig, the trip from Dau in Mabalacat City to Manila on Monday took more than seven hours as flooding along the North Luzon Expressway snarled traffic. Ayescha left the Dau bus terminal at about 12:15 p.m. and reached the Rizal Avenue bus terminal in Manila at around 7:20 p.m. The trip normally takes her about two hours. She was traveling to Manila for a student council activity and regularly makes the trip between Pampanga and the capital. But after traffic along Nlex turned the journey into a prolonged ordeal, she decided to stay in Manila rather than risk another long trip back to her home in Pampanga. Other motorists and commuters also took to social media to recount hours-long delays on Nlex, with some saying they were stuck for four to 12 hours as rising water levels in the Pampanga River disrupted traffic and made portions of the expressway impassable to light vehicles. “Nagbiyahe kami umaga pa lang. Pagdating namin doon pinababalik na ang mga Class 1 vehicles dahil hindi na daw kami makakadaan. Bus at SUV [sports utility vehicles] na lang ang puwede,” one motorist said. “We were stuck on Nlex for 12 hours,” another said. The flooding around Tulaoc is not new. In August 2023, heavy rains also inundated portions of Nlex beneath the Tulaoc Bridge, causing severe congestion along the expressway. The latest flooding prompted restrictions on Class 1 vehicles in both directions around Tulaoc and the San Simon Interchange. Metro Pacific Tollways Corp. (MPTC), owner and operator of Nlex, said Tuesday, September 1, that it was coordinating with the Department of Transportation, Toll Regulatory Board and other government agencies on measures to assist motorists and address flooding along the affected corridor. MPTC said it would continue working on flood-prevention measures, including plans to raise the northbound and southbound pavements in Tulaoc once the elevation of the Tulaoc Bridge is completed. The company described the pavement-raising project as part

of a longer-term solution to recurring flooding in the area. The prolonged congestion has also prompted questions about preparedness and traffic management along the expressway. Akbayan Party called on Nlex and concerned government agencies to explain the prolonged gridlock and how the situation was handled as flooding worsened. “Dapat may maagang babala, malinaw na contingency plan, at mabilis na aksyon,” Akbayan president Rafaela David said in a statement. The group urged authorities to review when warnings were issued, when restrictions were imposed and how traffic was managed as congestion bui lt up. It a lso ca l led for earl ier warnings, timely restrictions o r c l o s u r e s , p r e - p o s it i o n e d pumps and rescue equipment, and traffic-diversion measures to prevent additional vehicles from entering affected areas. MPTC, meanwhile, cited Public Works Secretary Vivencio Dizon’s assessment that the volume of water brought by the southwest monsoon overwhelmed existing f lood-control measures. Dizon has said pumping alone would not resolve the f looding because water could f low back into the affected areas. Pampanga Gov. Lilia Pineda has also pointed to broader drainage constraints in the province, saying downstream areas such as Macabebe and Masantol were already inundated, limiting the discharge of f loodwater toward Manila Bay. As of 3:00 p.m. Tuesday, Nlex said the Balagtas, Sta. Rita and Pulilan northbound entries, as well as the San Simon, San Fernando and Mexico southbound toll plazas, were open to all vehicle classes. Because of water buildup in San Simon, however, Class 1 vehicles were limited to the leftmost lane there. Nlex advised Class 1 vehicles bound for Manila to take alternate routes. For sout hbound motor ists coming from the Subic-ClarkTarlac Expressway (Sctex), Nlex advised taking the Central Luzon Link Expressway via the Cabanatuan exit toward Nueva Ecija. Another option is to exit at the Nlex Mexico Toll Plaza, take Jose Abad Santos Avenue and continue via Maharlika Highway toward the Plaridel Bypass Road and the Nlex Balagtas Toll Plaza.

Makati gives students rice subsidy, cash incentives, healthy meals

HE City Government of Makati strengthened its commitment to student welfare and learning by ensuring that children have access not only to quality education, but also to the nourishment they need to thrive. Recognizing that a wellnourished child is better equipped to learn, participate, and reach their full potential, Makati Mayor Nancy Binay has pushed for the rollout of the City’s rice subsidy program for students, beginning with daycare learners. “When we invest in our children’s nutrition, we are also investing in their education, their health, and the future of our city. No child should have to learn on an empty stomach. We want our students to come to school ready to learn, grow, and dream bigger,” said Binay. Under City Ordinance 2025-A024, Makati students from daycare to Grade 12, including learners under the Special Needs Education (Sned) program, will each receive

five kilograms of rice every month for 10 months throughout the school year. Currently, the Makati Schools Division has 34,631 enrollees from Pre-Kindergarten to Senior High School, underscoring the reach of the City’s efforts to support the nutritional needs of its learners. Binay emphasized that the rice subsidy marks the first time the City has provided free

rice assistance specifically for students, reinforcing the current administration’s focus on the health, nutrition, and overall wellbeing of young Makati learners. The City’s support for learners goes beyond rice assistance. For the first time, Makati will also roll out cash incentives for students through vouchers, providing P3,500 to learners from Pre-Kindergarten to Grade 6 and P7,000 to students from

Grades 7 to 12. The City is likewise advancing its Healthy Baon initiative, which provides Kindergarten to Grade 12 learners, including Sned learners and students of University of Makati, with either a complete Healthy Baon Bento Meal or a Healthy Baon Pastry Set on alternating weeks. The program seeks to ensure that students have regular access

to fresh and nutritious food that supports healthy growth, promotes well-being, and enhances learning. This focus on nutrition comes amid emerging concerns over the health of schoolchildren. Department of Education-Makati Schools Division Superintendent Ma. Evalou Concepcion Agustin reported that the division’s Nutritional Status Report for School Year 2025–2026 recorded a 4-percent increase in overweight students in Makati public high schools. For the City, the response is clear: student nutrition must be treated as an essential part of education. “We are choosing fresh, balanced, and thoughtfully prepared meals because that is what our children truly need. This is not about creating excitement over a new menu. This is about building healthier habits that can last a lifetime,” the Mayor said. Makati’s student-centered programs reflect a broader

commitment to creating an environment where children are supported inside and outside the classroom. By providing food assistance, financial support, school supplies, uniforms, and other essential needs, the City seeks to remove barriers that may prevent students from fully engaging in their education. The City has likewise sustained the provision of free school uniform sets and school supply packages, including basic school materials, school and physical education uniforms, school bags and caps, leather and rubber shoes with socks, health and wellness kits, and rain-protective gear. For Makati, these initiatives go beyond assistance; they are investments in the next generation. “By nourishing young minds today, the City is helping build healthier learners, stronger families, and a more prepared and empowered generation of Makati citizens,” Binay said.