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‘Reprieve from inflation may be short-lived’

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BM Freshly Brewed

By Justine Xyrah Garcia

August 31, 2026 | 10 AM

MARIA LOURDES FLOR “MALOU” JAPSON President of the Philippine Tour Operators Association

BEYOND DESTINATIONS

UST as the Philippines appears to be getting a break from soaring inflation, economists warned that rising global oil prices due to renewed tensions in the Middle East are threatening to spoil the reprieve. Last week, the Philippine Statistics Authority (PSA) reported that inflation eased to 6.1 per-

BLESS AUBREY OGERIO BusinessMirror Trade & Industry Reporter

THE FUTURE OF PHILIPPINE TOURISM

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cent in August, marking its fourth straight month of slower price increases after inflation peaked at 7.2 percent in April. But Ateneo de Manila University economist Luis F. Dumlao said inflation could climb as high as 7.6 percent in September as higher global oil prices push up domestic pump prices. In the last two weeks of August, the Department of Energy (DOE)

announced back-to-back fuel price increases. On August 18, gasoline prices rose by P2.49 per liter, diesel by P3.84, and kerosene by P5.01. A week later, gasoline increased by another P1.08 per liter, diesel by P2.31, and kerosene by P0.95. Industry estimates also point to further increases next week, with diesel potentially rising by P4.50 to P5 per liter and gasoline by P4

to P4.50 per liter, according to the Philippine News Agency. “It’s a matter of time. It’s going to be passed on, and it’s usually passed on first to passenger transport...that means usually people who drive, who pay their own gasoline,” Dumlao said in a recent interview. Dumlao said fuel price increases are felt more quickly by private See “Inflation,” A2

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7-MONTH DEBT SERVICE RISES 55.9% TO ₱1.366T www.businessmirror.com.ph

Monday, September 7, 2026 Vol. 21 No. 328

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DTI chief: PHL exports must be worth more, not just bigger

By Reine Juvierre S. Alberto @reine_alberto

HE cost of servicing the government’s debt climbed by half in the first seven months of 2026, as principal repayments more than doubled from a year earlier. Total debt service surged by 55.90 percent to P1.366 trillion as of end-July from P876.164 billion in the same period last year, latest data from the Bureau of the Treasury showed. The increase was driven primarily by a sharp rise in amortization, or payments toward the principal of the government’s debt, which doubled to P745.818 billion. Amortization went up by 110.01 percent from P355.124 billion a year ago and accounts

By Bless Aubrey Ogerio

for 54.57 percent of the total debt service bill. The government shelled out P631.042 billion in domestic amortization, which includes payments made through the Bond Sinking Fund. Some P114.776 billion in amortization was for foreign creditors. Meanwhile, interest payments rose by 19.15 percent year-onyear to P620.865 billion as of endJuly from P521.040 billion. This See “Debt,” A2

50 YEARS AFTER: NEW BALANGAY BOAT EXCAVATIONS IN BUTUAN By Erwin M. Mascariñas First of 2 parts UTUAN CITY—Fifty years after the first excavation on September 3, 1976, archaeologists from the National Museum of the Philippines (NMP) uncovered what they believe are the remains of another ancient wooden boat during a recently concluded confirmatory excavation in Barangay Libertad. This discovery could further expand the archaeological record of the country’s oldest known plank-built vessels and reinforce the city’s role as a major maritime trading center more than a thousand years ago. “The initial assessment is certainly significant. If this is not the previously identified Butuan Boat 3, then it raises an even more exciting possibility: there may be more ancient boats and archaeological treasures beneath the site waiting to be discovered,” said Eunice M. Plaza, head of the NMP-Butuan. Plaza pointed out that with 11 Butuan Boats reported to date, the possibility of additional boat remains underscores how much there is still to learn about Butuan’s maritime past. “This is not only good news for Butuan, but for the entire country as it highlights the depth of our maritime heritage and the need for continued archaeological research and the careful protection of these archaeological sites that contain irreplaceable evidence of our

past,” she added. The NMP-Butuan cited that the new findings was revealed during the Exit Conference on July 29, 2026 of the archaeological excavation and documentation activity on the Butuan boats at the two sites in Barangay Libertad. The excavation at the privately-owned Torralba site revealed three wooden planks, including one bearing lugs known as wooden projections characteristic of the famed Butuan boats, prompting researchers to conclude that the remains are almost certainly part of an ancient vessel. Nero M. Austero, Senior Museum Researcher, NMP-Maritime and Underwater Cultural Heritage Division (NMP-MUCHD), the project team leader of the excavation, said that the new planks they discovered in the new excavation sites might possibly be a new balangay boat that has not yet been previously recorded and documented. “Based on what we’ve seen, the planks that we have excavated have the characteristic of a Butuan boat. We are just not sure if these new sites from the previously cited areas where the documentation were lost, like boats 10 and 11 that really don’t have records—so when we are finally sure that these don’t belong to any of the recorded sites, then it will be the time that we might call them boat 12 or 13,” said Austero. See “Boat,” A2

BALANGAY: BUTUAN’S SEAFARING LEGACY From wooden remains documented at a continuing archaeological excavation to

centuries-old Butuan boats preserved in museums, these images trace Butuan’s enduring maritime heritage. The collage features wooden remains documented at the Toyota Site in Barangay Libertad in 2026, where archaeologists are investigating possible Butuan Boat remains; parts of Butuan Boat 5, excavated in 1985-1986 and now displayed at the National Museum of the Philippines-Butuan; and Butuan Boat 1, one of the historic vessels excavated in Butuan beginning in the 1970s. It also includes a 2012 photograph of the excavation site of Butuan Boats 4 and 9 in Barangay Libertad. Also featured is the balangay replica Sama Tawi-Tawi, anchored at the balangay boat-building site in Luna Compound, Barangay Bading, Butuan City. The boat was launched and commissioned at the same site in July 2010. In September 2010, Diwata ng Lahi, Mazuau Hong Butuan and Sama Tawi-Tawi embarked on a historic voyage to Brunei, Indonesia, Malaysia, Cambodia, Thailand and Singapore, before returning to the Philippines and their respective ports after an 18-month journey. Together, the images reflect Butuan’s enduring connection to traditional Filipino boatbuilding, maritime archaeology and the seafaring heritage embodied by the balangay. ERWIN M. MASCARIÑAS

HE Philippines needs to get more value from the goods it exports instead of simply increasing shipment volumes, Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said. This followed the release of preliminary data from the Philippine Statistics Authority, which showed exports rose 10.8 percent year-onyear to $8.15 billion in July from $7.36 billion a year earlier. “The true value of our resource is not only what we harvest, but in what we create from all of the products that we have here in the country. But we must continue to make sure that we exhaust the full and maximum potential of all of these products,” Roque said. Imports, however, grew 19.8 percent to $14.12 billion from $11.79 billion, pushing the country’s merchandise trade deficit to about $5.97 billion for the month. Total goods trade reached $22.27 billion, up 16.3 percent from $19.14 billion a year earlier. Imports accounted for 63.4 percent of trade, compared with 36.6 percent for exports. For Roque, the government will focus on helping exporters expand into overseas markets while improving their ability to compete. “Our exporters continue to demonstrate that Philippine products and services can compete globally. The DTI will get Filipino products abroad—we will not let up until every capable business finds its place in the global market,” she said. Electronics remained the country’s largest export earner at $4.79 billion, accounting for 58.8 percent of total exports. Other manufactured goods contributed $371.46 million, while mineral products generated $366.26 million. Electronics also posted the largest year-on-year increase among commodity groups, rising by $869.72 million. Gold exports increased by $79.34 million, while electronic equipment and parts rose by $71.81 million. Manufactured goods accounted for $6.61 billion, or 81.1 percent of total exports, while mineral products contributed $776.61 million and agricultural products $548.95 million. Still, the trade chief told exporters to understand foreign consumer preferences, position their products and develop longer-term relationships with buyers. The United States remained the country’s biggest export market in July, accounting for $1.68 billion, or See “Exports,” A2

PESO EXCHANGE RATES n US 62.4940 n JAPAN 0.4010 n UK 84.5731 n HK 7.9712 n CHINA 9.3027 n SINGAPORE 49.3439 n AUSTRALIA 44.9832 n EU 72.6680 n KOREA 0.0461 n SAUDI ARABIA 16.6433 Source: BSP (September 4, 2026)

News

BusinessMirror

A2 Monday, September 7, 2026

Exports…

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20.7 percent of total exports. Hong Kong followed with $1.29 billion, China with $919.82 million, Japan with $856.60 million and Singapore with $401.17 million. “To sustain this momentum, we will continue to prioritize trade promotion efforts that elevate the visibility of Philippine brands in the global market,” she said. “We will continue to open doors for our exporters by giving Filipino businesses more opportunities to meet foreign buyers, provide tailored and targeted assistance to help them understand and comply with international market requirements, and bring their products to new and emerging markets,” Roque added. The Department of Economy, Planning, and Development recently called for a more competitive export sector to help ease pressure on the peso and strengthen the country’s capacity to finance its growing import bill. (See: https://businessmirror.com.ph/2026/09/05/exportsmust-be-more-competitive-toease-pressure-on-the-peso/) The peso fell to a new record low of P62.59 against the dollar on Friday, according to Bankers Association of the Philippines data, weakening by 7 centavos from Thursday’s P62.52 close. Meanwhile, the Export Marketing Bureau, a DTI-attached agency, reported that it assisted more than 3,200 exporters in the first half of 2026 in accessing more than 20 markets through overseas trade fairs, business-matching missions and market-entry initiatives.

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July manufacturing growth eases by volume, value

By Justine Xyrah Garcia

HILIPPINE manufacturing growth lost some momentum in July as the sector faced slower increases in both production volume and value, according to the Philippine Statistics Authority (PSA).

Results of the Monthly Integrated Survey of Selected Industries (Missi) showed that the Volume of Production Index (VoPI) rose 6.4 in July, slower than the revised 10.6-percent growth in June. In July 2025, the index declined by 0.1 percent. The moderation in production volume was mainly driven by slower growth in the manufacture of coke and refined petroleum products,

which expanded by 43.8 percent in July from 87 percent a month earlier. The manufacture of computer, electronic and optical products also posted slower growth at 10.8 percent, compared with 16.3 percent in the previous month. Still, several industries continued to post growth during the month. Of the 22 manufacturing industry divisions, PSA said 11 recorded annual increases in production volume, while

Inflation…

mechanism that shields them from changes in pump prices. As fuel costs rise, the impact can also spread to other parts of the economy through higher transport and delivery costs, as well as more expensive farm inputs, eventually putting fur-

Continued from A1

motorists because, unlike regulated public transport, they have no fare

nine posted declines. The Value of Production Index (VaPI) also slowed in July, increasing by 9.6 percent from 13.9 percent in June. In July 2025, VaPI contracted by 0.2 percent. The manufacture of coke and refined petroleum products again accounted for much of the moderation. Its VaPI growth slowed to 47.2 percent in July from 89.3 percent in June, contributing 61.4 percent to the deceleration in overall manufacturing VaPI growth. Meanwhile, the manufacture of computer, electronic and optical products posted 17.2-percent growth in VaPI, slower than the 22.8 percent recorded in June. Despite the slower production growth, PSA said capacity utilization remained broadly steady in July. The average capacity utilization rate stood at 78.8 percent, slightly lower than the 78.9 per-

cent recorded in June but higher than the 77.6 percent posted in July 2025. Of the 739 establishments that responded to the PSA survey, 36.7 percent operated at 90 percent to 100 percent capacity, while 38.3 percent operated at 70 percent to 89 percent capacity. Another 25 percent operated below 70-percent capacity. Tobacco products recorded the highest utilization rate at 85.6 percent, followed by coke and refined petroleum products and leather and related products, including footwear, both at 83.5 percent. The Missi or the Production Index and Net Sales Index monitors the production, net sales, inventories, and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector.

ther pressure on consumer prices. University of Asia and the Pacific economist Marco C. Agonia likewise warned that peso volatility could add to inflationary pressures by raising the local cost of imported fuel. “Peso-dollar rate volatility may build inflation pressures through the fuel channel in the short term, especially with resurgent US-Iran tensions widening the uncertainty premium,” Agonia told the BusinessMirror. PSA data showed that transport was among the biggest contributors to August inflation, with inflation in the group accelerating to 13.5 percent from 11.9 percent in July. Food and non-alcoholic beverages also contributed significantly to overall inflation at 4.6 percent, while housing, water, electricity, gas and other fuels registered 7.9 percent.

19.4 percent in August, its highest since July 2024. “That said, assuming oil risks wind down and agricultural disruptions remain within tolerable levels, inflation may settle down by late 2027 or into 2028,” he added. Meanwhile, Dumlao warned that persistently high inflation could make businesses more cautious about expanding their workforces. “They have to talk it out. Unfortunately, the government does not have much resources...but it has to be very structured. How do we lay off? Is it a lateralized layoff? But as much as possible, freeze hiring rather than layoff people,” he said, when asked how the government and business sector can work together to mitigate the potential impact of elevated inflation on the labor market. For households, Dumlao said there may be little choice but to “tighten our belts” as higher prices continue to squeeze budgets. “Sometimes some people don’t have the luxury, but they have to either work more, double jobs, or for some people, they have to resort to borrowing,” he also said.

Long way to go

AGONIA said inflation also faces a longer-term risk from El Niño, which could disrupt rice production and keep food prices elevated. Rice inflation accelerated to

Debt…

Continued from A1

accounts for 45.43 percent of the total debt service for the sevenmonth period. The bulk of the interest payments went toward fixed-rate Treasury bonds at P330.651 billion, while P91.059 billion went to retail Treasury bonds and P30.060 billion to Treasury bills. External creditors were also paid P161.299 billion in interest as of end-July. For July alone, debt service amounted to P139.991 billion, 29.55 percent higher than the P108.055 billion spent a year ago. Higher interest payments pushed up the debt service bill, increasing by 29.14 percent yearon-year to P137.175 billion from P106.219 billion. Creditors were likewise paid P2.816 billion in amortization, 53.37 percent higher than last

year’s P1.836 billion. This year, the government allotted P2.045 trillion for debt servicing. About P1.049 trillion will be spent for principal amortization, while P995.610 billion will be for interest payments. Interest payments alone would account for 15.47 percent, or P1.114 trillion, of next year’s proposed P7.2-trillion national budget. As of end-July, the national government’s outstanding debt climbed to a new record high of P19.39 trillion, up by 1.70 percent from P19.07 trillion at end-June due to more domestic and external borrowings and a weaker peso. The debt-to-GDP ratio rose to 66 percent in the second quarter, the highest since 2004, after the economy grew by only 2.3 percent. By the end of 2027, the outstanding debt is projected to reach P21.479 trillion. Domestic debt is estimated at P14.282 trillion, while foreign obligations are seen to reach P7.197 trillion.

Boat…

Continued from A1

Austero emphasized that they will still have to resort all means to find the old records to counter verify if the planks found in the newly excavated sites are really not from the older recorded excavation that got lost in the records or if these are boats 3, 6, 7, and 8. “Last year, when we started the new excavation, we assumed that it was boat 3 but based on previous reports and photographs, we compared them and found out that it is not the same boat,” said Austero, citing the recent excavation at the Toyota Butuan area which concluded on July 25. The archeologist explained that one of the key questions they are looking at is: what boat-building technology was used, as he noted the various boat-building technologies used on different boats. “For example, boat 9 has a different boat-building technology, does not have any lugs, what this mean is that it doesn’t have lashed-lug, which is used for the lashing technique in tying the frames, so boat number 9 is interesting,” explained Austero, adding that the next question would be who built them. He cited different theories on whether they were made in Butuan or elsewhere then brought to Butuan; and who built them, as they are using different techniques in building the boats. Lashed-lug boats are ancient boatbuilding techniques of the Austronesian peoples. It is characterized by the use of raised lugs which are also called “cleats” on the inner face of the hull planks. Austero added that another good question is, after the height of this technology, there are recorded new boats by the 19th century revealing a gap as to the time where the boats used only dowels, no nails, raising the question where the technology ended.

A city built by trade

LONG before Spanish colonization, Butuan had already established itself as one of Southeast Asia’s earliest trading centers. Austero cited historical records from Chinese annals indicatinng that as early as the 10th century, Butuan was already sending trading missions to China even before its formally documented tributary missions. “As early as the 10th century, there were reports written on the Chinese annals,” Austero said. “The people of Butuan were already negotiating and trading with the Chinese.” Historical data suggests that by the late 12th century, Butuan had become part of an integrated regional trading network linking settlements across present-day Luzon, the Visayas, and Mindanao. Archaeological evidence suggests these communities flourished around the mouth of the Agusan River and Butuan Bay, locations that naturally evolved into trading settlements. “Ancient settlements usually begin at the mouth of rivers,” Austero explained. “The Agusan River played an important role in commerce and trade even in ancient times.” Geological studies also explain why ancient boats were eventually buried beneath today’s landscape. Thousands of years ago, the Agusan River flowed differently. Over centuries, sedimentation gradually altered its course, sealing former river channels beneath thick layers of silt and preserving the wooden vessels in waterlogged conditions. Geological studies suggest that the Agusan river basin was formed from centuries of floodings swallowing the flood plains of Butuan—events that contributed to fertile farm land areas along the valleys near the river deltas. To be concluded

Rate hikes… Continued from A9

Asean…

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people worldwide will be 65 or older by 2050. The demographic shift, he said, underscores the need to ensure that vulnerable sectors can participate in the expanding well-

ness and “silver economy,” both as beneficiaries and economic participants. “The wellness economy cannot be sustained if its benefits are accessible only to those who can afford them,” Gatchalian said. “People should also have the opportunity to participate as workers, entrepreneurs, and partners in the economy.”

the third meeting in a row, this time as a “preemptive move” against the threat of El Niño, which could worsen in the fourth quarter and drive up food prices. Aside from the El Niño event, the Monetary Board said it also took into account the risk of further wage increases in its policy action. (See: https://businessmirror.com. ph/2026/08/27/rate-hike-phlshield-vs-el-nino-inflation/)

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Monday, September 7, 2026

Taguig execs told: Do not obstruct OMB investigation into flood-control mess By Butch Fernandez @butchfBM

HE investigation into allegedly anomalous flood-control and other infrastructure projects to be deliberate, methodical and thorough, must be free from obstruction, Sen. Panfilo Lacson said at the weekend, as he rejected Sen. Alan Peter Cayetano’s characterization of the probe as a “striptease” without evidence. Lacson said Cayetano’s remarks only exposed his ignorance of how investigations into complex corruption cases, including those involving infrastructure projects in Taguig City, are conducted. “It only proves Senator Cayetano’s ignorance of how an investigation of flood control anomalies and other sophisticated corruption cases works. It must be deliberate, methodical and thorough; not hasty nor sloppy,” he said in a post on X late Saturday, referring to Cayetano’s “striptease” characterization. Cayetano had insisted in a social media livestream that Lacson’s revelations on the anomalous projects in Taguig and the possible irregularities behind it are “like a striptease” with no real evidence. Lacson and his team have formally submitted to the Office of the Ombudsman at least 45 case studies backed by official documents detailing “systemic anomalies” in flood control infrastructure projects in the Cayetano family-led city. The Office of the Ombudsman has since

launched a fact-finding investigation into the allegations involving the projects in Taguig. Lacson, a veteran intelligence officer and former National Police chief who used his investigative skills to scrutinize national budgets, also stressed the importance of going where the evidence leads, instead of obstructing it. This was after Ombudsman Jesus Crispin Remulla narrated in his radio program Saturday how Taguig City Hall personnel tried to prevent an Ombudsman team from conducting its investigation Friday. Remulla said city hall personnel tried to argue with Ombudsman investigators and prevent them from flying a drone to take photographs of the area. Police personnel detailed to the Ombudsman team subsequently arrested the City Hall personnel involved, Remulla said. “Kahapon meron kaming investigator, sinasaway. Sinasaway sila, kahit nagpakilalang taga-Office of the Ombudsman, sinasaway pa rin, ayaw silang patrabahuhin. Kasi ang drone, paliliparin ang drone para kumuha ng pictures, ayaw nila paliparin. May pulis na detailed sa amin, e di pinapulis namin [On Friday, our investigators were being obstructed by the City Hall personnel. Even when the investigators identified themselves as being from my office, they refused to let them do their work. But my team had police personnel detailed to them, and they dealt with the city hall personnel],” Remulla said in his radio program.

More kush recovered from distressed yacht in Subic; total haul hits ₧366.6M By Henry Empeño

UBIC BAY FREEPORT— Authorities here found more high-grade marijuana or “kush” from the distressed sailing yacht that previously sought shelter in Subic Bay, raising the estimated total haul of the contraband to P366.65 million. The Bureau of Customs in the Port of Subic (BOC-Subic) said on Saturday, that its operatives, in coordination with law enforcement partners, found an additional 123.91 kilos of marijuana concealed in the yacht during stripping and inspection operations. The newly recovered stash, sealed in 109 packages, had an

WATER from a collection chamber is delivered to the elevated stainless-steel tanks installed within the community and school. M. LUCERO/ICR By Manuel T. Cayon @awimailbox

AVAO CITY–An interior village in Misamis Oriental built its own drinking water two years after government soldiers and New People’s Army guerrillas clashed in the area. Before and even after that battle, getting water used to be challenging for the people of barangay Bal-ason in Gingoog City, Misamis Oriental, the International Committee of the Red Cross said. The situation turned for worse after the battle as residents hesitated to fetch water from a stream, their main water source, owing to distance and safety concerns. “To assist the conflict-affected community, the water supply system was upgraded with the support of the ICRC, providing clean water for around 2,000 residents,” the ICRC said in a statement. In its story titled “How clean water reached a remote village,” the ICRC said it implemented a cash-for-work program “in

which more than 15 skilled residents were chosen and received payment for improving the water system.” The new water storage tanks have the capacity to store up to 15,000 liters of water. Faucets were installed inside the village to provide water to the elementary school and health center. Around 400 students and teachers will benefit from the new water tanks and faucets installed in the vicinity of the village elementary school, it said. “This will greatly improve access to clean water, sanitation and hygiene and reduce their exposure to waterborne diseases,” the organization said. Several solar lamp posts were installed near the new water faucets to provide better lighting, so residents can safely and conveniently fetch water even during late hours. The project was officially turned over to the local authorities on August 7. Village officials and ICRC representatives witnessed the official turnover of the upgraded water supply project

@joveemarie

HE House impeachment prosecution panel is considering the dropping of the bribery charge against Vice President Sara Z. Duterte as her impeachment trial before the Senate Impeachment Court continues, but prosecutors emphasized that a conviction on even one Article of Impeachment would already be sufficient to trigger the penalties imposed by the tribunal, including removal from office and perpetual disqualification from holding public office. Prosecutors said the possible withdrawal of Article III, which involves allegations of bribery, is part of efforts to shorten the proceedings and focus on the remaining Articles of Impeachment. However, they stressed that each of the four articles stands independently and that the remaining charges would continue even if one article were removed. House prosecution counsel Benjamin Tolosa Jr. explained that the prosecution does not need to prove all allegations for a conviction to occur. “We have four Articles of impeachment, but it only takes a finding of guilt on one article for the penalty of removal from office and perpetual disqualification to take effect,” Tolosa said. He added that the prosecution does not need to secure a conviction on all articles for the Senate to impose the constitutional penalties. The possible withdrawal involves Article III, which accuses Duterte of alleged bribery involving monetary gifts or payments to Department of Education officials during her tenure as Education secretary. Prosecutors said no final decision has been reached as they continue reviewing their evidence and trial strategy. The impeachment complaint against Duterte contains four separate allegations. Article I involves the alleged misuse, misappropriation, and irregular liquidation of P612.5 million in confidential funds from the Office of the Vice President and the Department of Education. Article II concerns

BARMM election ‘critical test’ of region’s political transition By Rizal Raoul Reyes @brownindio

HE first parliamentary election in the Bangsamoro is shaping up to be a critical test of the region’s political transition as persistent violence, deepening political divisions and weak public confidence threaten to overshadow the historic vote, the latest Boto Mo Bangsamoro! bulletin of Climate Conflict Action Asia (CCAA) and the Early Response Network (ERN) said. The two groups also noted that political activities have intensified across the region, with parties holding rallies, caravans and assemblies to consolidate support.

But beneath the campaign activity is a more uncertain political environment marked by rising tensions, insecurity and questions about public confidence in the Bangsamoro political settlement. The political climate deteriorated following the August 15 ambush involving the convoy of Bangsamoro Interim Chief Minister Abdulraof Macacua in Datu Odin Sinsuat, Maguindanao del Norte. The incident has further widened divisions within the Moro Islamic Liberation Front (MILF) and contributed to political polarization, according to the bulletin. Tensions quickly spilled over into other incidents.

estimated street value of P204.44 million, BOC-Subic said. The operation was conducted by a composite team from BOC, the Subic Bay Metropolitan Authority’s Law Enforcement Department (SBM A-LED), Coast Guard (PCG), and the Drug Enforcement Agency (Pdea). Subic authorities recovered the

first batch of kush on Wednesday after acting on derogatory information received about a distressed sailing yacht brought to Subic for repair. Upon inspection and search of the vessel on September 2, a composite team of law enforcers recovered a total of 98.33 kilos of marijuana with an estimated street price of P162.2 million. The contraband was reportedly hidden in a compartment in the vessel’s engine room. Investigators said the vessel, manned by Thai and Malaysian crewmen, was originally sailing to Taiwan from Kota K inabalu in Malaysia when it encountered rough seas and was forced to head to Subic for shelter and repairs. T here was no ment ion by Subic-BOC of the whereabouts of the yacht crew, but the Subic Bay Metropolitan Authority (SBMA)

said on Thursday that efforts were underway to locate them for interrogation. Investigators also wanted to establish the origin and ownership of the contraband, the intended destination and recipient, as well as potential links to local and international drug trafficking networks, the SBMA said. Subic District Collector Geniefelle Lagmay said BOC operatives will search the vessel further along with partner agencies. “ T his additiona l discover y shows that our work does not stop with the initial apprehension. We will continue to thoroughly examine and strip vessels when necessary to ensure that every possible hiding place is checked,” he said. Following the recovery, all the seized items were turned over to the PDEA for proper custody and disposition, BOC-Subic said.

House impeach prosecution panel mulls dropping of bribery charge By Jovee Marie N. dela Cruz

MisOriental troubled community builds own drinking water source

Two days after the ambush, a man allegedly threatened a supporter of an opposing political party in Cotabato City over comments about the incident. On August 17, a bodyguard of a barangay chairman and political party supporter was shot dead outside his home in Tugunan. They said clan conflicts have also continued across the region, with incidents reported in Sultan Kudarat, Lanao del Sur and Maguindanao del Sur. In Shariff Saydona Mustapha, a recurring rido or family feud rooted in a land dispute erupted anew on August 29, displacing about 30 families. See “BARMM,” A4

allegations of unexplained wealth and incomplete financial disclosures, while Article IV involves alleged grave threats against President Ferdinand Marcos Jr., First Lady Liza Araneta-Marcos, and former Speaker Ferdinand Martin Romualdez. The prosecution is currently completing its presentation on Article I, which focuses on the confidential fund allegations. The House lead prosecutor, Batangas Rep. Gerville Luistro, said the panel was targeting September 9 to finish presenting evidence related to the alleged misuse of confidential funds. The confidential fund allegations involve P500 million released to the

Office of the Vice President and P112.5 million allocated to the Department of Education while Duterte served as Education secretary. Prosecutors are examining how the funds were released, handled, and liquidated. Several witnesses have already appeared before the Senate Impeachment Court, including government officials, auditors, and military personnel. Former Office of the Vice President special disbursing officer Gina Acosta testified that she transferred four P125-million confidential fund tranches to then-security chief Col. Raymund Dante Lachica upon Duterte’s instruction.

The prosecution is also preparing to present evidence under Article II involving allegations of unexplained wealth. The House prosecution spokesperson, Lanao del Sur Rep. Zia-ur Rahman Alonto Adiong said the panel has sufficient documents and materials to support its claims but declined to disclose details before they are formally presented in court. Another issue being discussed in the trial is the Senate voting requirement for conviction. The Constitution requires the concurrence of two-thirds of all Senate members for an impeachment conviction, traditionally interpreted as 16 votes in a 24-member chamber.

Monday, September 7, 2026

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Foreign tech investors to get direct government facilitation E

Palace set to release ₧300 million for Bukidnon Airport’s completion

By Malou Talosig-Bartolome

OREIGN investors looking to set up semiconductor and electronics operations in the Philippines will no longer be left to navigate the country’s bureaucracy alone, as the government will now directly handle their registration, permitting, and facility setup. This definitive shift in investor treatment is the cornerstone of the Philippine Semiconductor and Electronics Industry Roadmap, Philippine Chamber of Commerce and Industry (PCCI) President Ferdinand Ferrer said. The direct facilitation will be executed through the newly formed Semiconductor and Electronics Industry Advisory Council (Seiac), a joint body of government and private sector leaders. “What will happen through the

Seiac, if there are investors in this industry, the Seiac...tutulungan itong mga investors,” Ferrer said. “Registration, permitting, setting up, everything. Hindi na iyong pumunta dito ang investor and you’re on your own. No, hindi na. Kasama na ang government.” The launch of the roadmap on September 2 aims to abandon the fragmented strategies of the past, signaling to the global market that the Philippines is unified under a single blueprint. “The Philippines has a roadmap;

it is not just ‘kanya-kanya’ [to each his own] it is both government and private sector,” Ferrer noted. Executive Secretary Ralph G. Recto, who chairs Seiac, reinforced this concierge-level approach, stating that the government is actively removing structural obstacles and regulatory bottlenecks to accelerate permitting. “A roadmap is only as good as its execution. We have enough good plans in government. What the industry needs from us now are results,” Recto said in a statement. “As Chairperson of Seiac, you can be assured that our office will not only chair the launch of this Roadmap, but will stay on top of its actual implementation.” Beyond streamlining the ease of doing business, the roadmap seeks to elevate the country up the technology value chain. Recto emphasized that President Marcos wants the industry to capture high-value activities such as advanced chip design and engineering. “Ang target natin, hindi lang makita ang Made in the Philippines [na tatak] sa mga produkto. Gusto natin: Designed in the Philippines. Engineered in the Philippines. Innovated in the Philippines,” Recto added. To measu re its prog ress, t he

ro a d m ap h a s e s t a bl i s he d c l e a r milestones for 2030: n Achieve US$110 billion in total semiconductor and electronics exports; n Increase the Philippines’ share of global semiconductor assembly, test, and packaging from 4 percent to 7 percent; n Capture 4 percent of global electronics manufacturing services; n Build an integrated circuit (IC) design sector generating US$2 billion to $3 billion in annual exports. Because the unified strategy targets advanced manufacturing, the incoming wave of foreign direct investment will require a highly specialized workforce. Ferrer pointed out that educational agencies, including the Technical Education and Skills Development Authority (Tesda), the Department of Education (DepEd), and the Commission on Higher Education (CHED), are actively involved in the roadmap to ensure talent availability. “The companies that we will be attracting are not technology of yung dati, this is all technology of the future, which we will need to train the people,” Ferrer explained.

Climate-change preparedness boosted with more funding for Project Noah

R ESIDENT Marcos’ infusion of a fresh P1 billion funding for Project Nationw ide Operational Assessment of Hazards (Noah) w ill bolster government’s capacity to respond effectively to ty phoons and f loods made worse by climate change. Executive Director Mahar Lagmay of the University of the Philippines Resilience Institute (Upri), said that with the additional funds, Project Noah can focus on strengthening flood management, hazard monitoring, and disaster-risk-reduction systems as the country confronts the effects of climate change. In interviews with state and private broadcast media over the weekend, Lagmay, a UP geology professor, said he hopes that the government’s funding for “Project Noah will continue to transform scientific knowledge into practical action that protects lives and helps build safer, more resilient, and sustainable communities.”

Marcos ordered the release of P1 billion for Project Noah, which Upri manages, to boost impact-based forecasting developed by Project Noah researchers using years of histor ica l infor mat ion, satel l ite images, rainfall data, and other datasets. T he President’s directive to the Department of Budget and Management (DBM) is another critical move in his data-driven governance, which recognizes the v ital role of hard science in statecraft, notably the national infrastr ucture spending of the Department of P ubl ic Work s a nd H i g hw ay s (DPWH) being guided by scientific data from Upri ’s Noah. Founded in 2012, Noah seeks to assist the government in disaster-risk reduction and management, climatechange adaptation and mitigation efforts, and related activities through research, development, and extension services.

Science-backed infra projects THE Department of Public Works and Highways has begun laying the technical foundation for future, science-backed flood-management infrastructure to strengthen long-term disaster preparedness and climatechange-risk response nationwide. At Marcos’s directive to enhance nationwide flood resiliency, Public Works Secretary Vivencio Dizon has ordered the updating of all flood-management master plans to protect Filipinos from massive flooding year after year. To ensure these master plans reflect current climate realities, the agency is collaborating with UPRI’s Project Noah, local government units, and key partner agencies to integrate detailed hazard mapping and scientific data before their implementation. On September 2, the President said the government is now implementing a flood-control master plan that has been waiting for implementation for decades.

“We already have a master plan. It’s just never been executed. We are only executing it now,” Marcos told reporters after inspecting repair works at a collapsed bridge in Tarlac. “We have had a master plan for decades pero walang ginawa. Ngayon lang natin sinisimulan [but nothing was done. We are only starting it now],” the President said. The President’s remarks came as Central Luzon, Metro Manila, and other parts of Luzon grappled with widespread flooding brought by heavy monsoon rains. The administration has repeatedly called on national government agencies to implement long-term flood-control measures, including declogging and dredging waterways, improving drainage systems, and proper land-use planning, as the government responds to increasingly intense rainfall linked to climate change.

The dispute stems from the purported assignment of the Olsa from Maharlika Investment Corporation (MIC) to Equinaire Holdings Limited, a wholly owned subsidiary of Kiri Industries Limited. Equinaire subsequently issued notices asserting events of default and seeking enforcement of security over Celsius subsidiary Makilala Holding Limited ’s 40 percent interest in MMCI. Equinaire has cited several alleged defaults, including the Notice of Relinquishment issued by Makilala Holding Limited to Sodor Inc., certain information-security incidents involving MMCI, and MHL’s efforts to obtain a Temporary Order of Protection from the Makati court. Celsius has rejected the allegations, maintaining that no Event of Default occurred or continues under the OLSA. It also disputes Equinaire’s capacity to initiate foreclosure proceedings and sell MHL’s interest in MMCI, arguing that the alleged defaults do not satisfy contractual conditions required before enforcement rights can be exercised. The legal dispute intensified after a Temporary Order of Protection previously granted by the Makati court was lifted following Equinaire’s payment of a P201-million counterbond. Equinaire then issued a Notice of

Resumption of Foreclosure and a Notice of Disposition declaring its intention to proceed with a public auction of MHL’s 40 percent interest in MMCI on September 8, 2026. MHL subsequently petitioned the court for interim measures of protection seeking to prevent foreclosure or disposition of its MMCI interest until the conclusion of arbitration. The court denied the petition, finding that MHL had not sufficiently established irreparable injury because the potential loss from foreclosure was primarily economic and could be addressed through arbitration. Importantly, the court expressly stated that its ruling was not a determination that an Event of Default occurred, that any alleged default was incurable, or that Equinaire is entitled to foreclose. It also recognised that the interpretation of the Olsa, the alleged defaults, and Equinaire’s enforcement rights remain open for determination by an arbitral tribunal. Celsius said it intends to file its Motion for Reconsideration by the end of this week. If the motion is denied, MHL intends to appeal to the Court of Appeals. At the same time, Celsius is revising its Notice of Arbitration to commence proceedings where the merits of the dispute—including the validity

The project includes a runway measuring 2,100 meters long and 45 meters wide, two stub taxiways and a 43,050-square-meter apron capable of accommodating six aircraft. It also covers a 3,600-square-meter passenger terminal building designed to accommodate as many as 425 passengers at a time. A 2,500-meter runway strip, airport ancillary structures and air navigation facilities will also be constructed to support safe and efficient jet aircraft operations. The runway is being built long enough to accommodate larger commercial aircraft such as the Airbus A320, one of the aircraft commonly used for domestic routes in the country. “ Ang gusto natin, hindi lang may eroplano na makakarating sa Bukidnon. Gusto natin maraming pasahero ang kayang makasakay ,” Recto said. “If we can accommodate bigger aircraft and attract more flights and airlines, that can help bring fares down and make air travel more affordable for ordinary Filipinos.” “Airports do more than connect destinations,” Recto said. “They connect businesses to customers and communities to jobs, investments and essential services.” The airport is expected to support Bukidnon’s position as a major agricultural producer by making it easier and faster to transport the province’s products, including pineapples, bananas, corn, coffee, sugar and livestock, to larger markets. “Kapag mas madaling makarating dito, mas maraming negosyo ang lalago, mas maraming trabaho ang malilikha at mas maraming komunidad ang makikinabang,” Recto said. Sen. Juan Miguel F. Zubiri, a native of Bukidnon, joined Recto during the inspection.

DPWH opens bid for bypass road’s Davao City-Panabo City section By Manuel T. Cayon

AVAO CITY–Government opened the bidding on Friday for the construction of the north section of the bypass road project that would connect this city to the Davao del Norte city of Panabo. The Package II-3, or the north section of the project, has a budget of P4.38 billion for the construction of the 12.1-kilometer secton. This will connect barangay Mahayag of Bunawan District up to Mudiang and crossing the Lasang River towards the national highway to Panabo City. The bid contract requires contractor to complete the section in 1,080 calendar days, or three years. The project is part of the Davao City Bypass Road project that will start from highway

barangay Sirawan in the southwestern district of Toril going up to steer away from the downtown and central business district of the city. It cuts through a mountain pass with the country’s longest twin-tube tunnel road spanning 2.3 kilometers in barangay Waan and across deep valleys and northern forests where construction has reached barangay Mahayag in Bunawan. The project is assisted by the Japan International Cooperation Agency and has a total cost of P70.81 billion. It is expected to reduce travel time between the two cities from one hour and 44 minutes to 49 minutes. The entire project has the initial target completion of 2028 although construction was just started at the south section of the project, from the Tacunan area in Tugbok going to the south end’s Barangay Sirawan in Toril.

See “Noah,” A5

Australian mining firm moves to block auction of 40% stake in Kalinga project USTR ALI A-BASED Celsius Resources Limited is mounting further legal action to prevent the planned September 8 auction of its 40 percent interest in Makilala Mining Company Inc. (MMCI), its local subsidiary. MMCI’s operations in the Philippines are centered on the early development and pre-construction stages of its flagship Maalinao-CaigutanBiyog (MCB) Copper-Gold Project in Kalinga province. The company is currently entangled in a legal dispute with Equinaire Holdings Limited over a loan and security agreement, which is moving toward arbitration. Celsius said it will file a Motion for Reconsideration after the Regional Trial Court in Makati denied its petition seeking interim protection against foreclosure of the Omnibus Loan and Security Agreement (Olsa) and disposition of its MMCI interest. I n a st atement , Ce lc iu s sa id that the court’s denial did not rule that a default had occurred or that Equ i n a i re i s lega l ly ent it led to foreclose on Celsius’ stake. On the other hand, the court did say the substantive issues remain disputed and shou ld be resolved through arbitration.

XECUTIVE Secretary Ralph Recto on Friday inspected the ongoing construction of the Bukidnon Airport in Don Carlos as the Marcos administration prepares to infuse an additional P300 million under the proposed 2027 national budget to complete the project next year. The new airport, under construction in barangay Maraymaray, is designed to accommodate jet aircraft and give Bukidnon a direct connection to major economic and tourism centers across the country. “President Marcos wants the Bukidnon Airport completed by 2027 so it can begin creating jobs, attracting investments and bringing more tourists to the province,” Recto said. “This airport will bring not only Bukidnon, but the whole Mindanao, closer to the rest of the Philippines and the rest of the country closer to the heart of Mindanao,” Recto emphasized. “It will allow people, products and opportunities to move faster.” The airport has received a total of P3.17 billion in government funding. Of this amount, P1.360 billion has been allocated under the Marcos administration. The administration provided P1 billion for Phase IV of the airport’s development in 2022, followed by P310 million in 2024 and P50 million in 2025. With the proposed additional P300million allocation, the Marcos administration’s total funding for the airport will reach P1.660 billion, according to Recto. “Hindi natin hahayaang maging isa na namang proyektong matagal nang hinihintay ngunit hindi matapos-tapos,” Recto said. “Ang atas ng Pangulong Marcos ay tapusin ang paliparan at buksan ito sa lalong madaling panahon.”

of the alleged defaults and Equinaire’s enforcement rights—can be fully determined. The company also pointed to a potentially significant procedural hurdle facing any immediate transfer of the MMCI shares following an auction. Celsius said any successful buyer would need to obtain a Certificate Authorizing Registration, or tax clearance, from the Bureau of Internal Revenue before the transfer could be registered with the Securities and Exchange Commission. According to Celsius, the BIR tax-clearance process typically takes at least 27 working days, or approximately six to eight weeks. The company said this could provide additional time for it to pursue court remedies, including reconsideration and a possible appeal, as well as seek interim relief through arbitration. For the Philippine mining sector, the dispute draws renewed attention to the ownership and financing arrangements surrounding MMCI, which holds the interests in the Maa linao- Caig utan-Biyog (MCB) Copper-Gold Project in Kalinga. Celsius maintains that the substantive dispute remains unresolved and that the ultimate validity of any foreclosure is a matter for arbitration. Jonathan L. Mayuga

BARMM. . . Continued from A3

CCAA and ERN said the persistence of armed violence has raised questions about the effectiveness of the election gun ban. Data from the Critical Events Monitoring System showed 58 gun-related incidents during the six-week period after the gun ban took effect, compared with 44 incidents during the preceding six weeks. Deaths also increased from 34 to 39. They described the security situation as complicated, exacerbated by the unfinished process of decommissioning and continuing tensions between the government and the MILF. CCAA and ERN said the governmentMILF agreement on August 31 established guidelines for mutual understanding on cease-fire related functions. However, just two days later, an armed MILF convoy was blocked by the military in Kolambugan, Lanao del Norte, prompting authorities to remind the group to coordinate movements through the Bangsamoro peace-process mechanisms. CCAA and ERN said the developments underscore the difficulties of translating the peace agreement into a functioning political settlement.

Extremist threat

CCAA and ERN said the election environment is also being complicated by the continuing threat of extremist violence.

The bulletin cited military operations against alleged members and supporters of Dawla Islamiyah (DI), including the August 29 operation in Marawi City that resulted in the deaths of a suspected DI member, his wife and their seven-month-old child. The incident has reportedly been used by extremist sympathizers as propaganda to generate public sympathy and potentially encourage recruitment, particularly among young people. CCAA and ERN said the emerging threat requires stronger monitoring and coordination beyond military operations, including greater involvement of community groups and relevant agencies. The concern, according to CCAA and ERN, is that continuing extremist violence could trigger another cycle of conflict and undermine the broader Bangsamoro political settlement. Beyond physical security, the CCAA and ERN pointed out that the credibility of the parliamentary election could also be affected by limited voter education and uncertainty about the new electoral system. Interviews conducted through the Aksyon Alerto program found that some community members remained unfamiliar with the voting process. Some also reported limited voter education activities in their areas. Where voter education activities were conducted, CCAA and ERN reported some were reportedly perceived as opportunities for political parties to campaign rather than explain voting procedures.

www.businessmirror.com.ph

Monday, September 7, 2026

DA-11 signs deals to bring Saba bananas to HK, NZ

HE Department of Agriculture in Davao Region (DA-11) has announced that Philippine Saba (Cardava) bananas are set to reach new international markets following the signing of two Supply and Purchase A g reements dur ing Asia Fruit Logistica Hong Kong 2026 on September 2. Just last month, an initial 20ton shipment of Cardava bananas bound for Saudi Arabia was sent by accredited exporter GERB Golden Hands Corp. The shipment, comprising 1,540 boxes at 13 kilograms each, is expected to arrive within 35 days. DA-11 said the new agreeme nt s we re s i g ne d b et we e n Philippine exporter Avante Agri-Products Philippines Inc. and Cozy and Korner Trading Co. of Hong Kong, as well as Fresh Produce Group (FPG) Ltd. of New Zealand. Cozy and Korner will serve as the exclusive distributor in Hong Kong, while FPG Ltd. will act as the exclusive importer and distributor in New Zealand. “The new agreement strengthens trade linkages between Philippine exporters and international buyers and creates new market opportunities for Philippine agricultural products, particularly premium export-quality Saba bananas,” DA-11 said in a statement.

The signing was among the highlights of the Philippines’’ participation in AFL 2026, where DA led a delegation of fruit industry associations to promote local produce and explore new international markets. Meanwhile, DA-11 also reported its participation in the Sabah International Expo 2026 (SIE 2026), a biennial trade fair in Kota Kinabalu, Malaysia, from September 2 to 6. The expo serves as a platform for exhibitors across the Brunei Darussalam–Indonesia–Malaysia–Philippines East Asean Growth Area (BIMP-Eaga) and the Association of Southeast Asian Nations member-countries to showcase products, strengthen trade connections and promote Sabah as a regional hub. DA-11 Regional Technical Director for Operations Marie Ann Constantino said the participation highlights the competitiveness of Philippine products, particularly those from Davao Region, while opening opportunities for Halalcertified enterprises. “To access the global market, we must know and comply with the market protocols and requirements of the importing country. Meeting these standards is essential in ensuring that our products can successfully enter and compete in international markets,” Constantino added. PNA

CamSur dairy farmers turn fresh milk into sweet treats By Jonathan L. Mayuga @jonlmayuga

HE Department of Agrarian Reform (DAR) and the Depar tment of Science and Technolog y (DOST) have partnered to help dairy farmers in Ragay, Camarines Sur, develop milk-based products, such as mazapan and toasted pastillas, to widen their market reach. Mazapan is a dense, sweet confection made from milk and ground nuts or starch, traditionally shaped into small blocks and wrapped in cellophane. On the other hand, toasted pastillas is a modern, baked twist on the classic Filipino milk candy (pastillas de leche). Instead of leaving the milk mixture soft and doughy, the candies are lightly baked or torched, creating a caramelized, crunchy outer crust while keeping the inside soft, milky, and chewy. T hrough capacit y-bu i ld ing training, members of the Catabangan Agrarian Reform Cooperative (Carco) recently learned how to turn their fresh milk into valueadded treats such as mazapan and toasted pastillas during a training held late last month. Carco is known for producing pasteurized carabao milk, which is naturally rich, thick, and highly nutritious. The activity was conducted under the Village Level Farm-focused Enterprise Development (VLFED) project of DAR Camarines Sur I, with assistance from DOST Camarines Sur. DOST’s Moisha Mishael Dacara guided the farmers through the production process and shared techniques they can apply to their dairy enterprise. The training is part of the second phase of VLFED implementation for Carco, as DAR Camarines Sur I continues to work with partner agencies to streng t hen t he cooperat ive’s produc t ion , processi ng , a nd marketing capabilities.

VLFED is a flagship DAR program that helps agrarian reform beneficiaries (ARBs) and their organizations increase their income and strengthen their enterprises by moving beyond the sale of raw farm products. The program supports farmers in value addition, production technology, processing, packaging, regulatory compliance, and market linkages. For dairy farmers, this means having more opportunities to earn from their milk by developing products that can reach consumers in different forms and markets. Agrarian Reform Secretar y Conrado M. Estrella III has emphasized the department’s continuing support for farmers by helping them not only secure land ownership but also develop sustainable livelihood opportunities that can improve their incomes and strengthen their organizations. For Carco General Manager Nancy Jaen, continued assistance from DAR Camarines Sur I and its partner agencies has given the cooperative greater confidence to expand its dairy business. “There is a big chance that our cooperative will become the primary, or possibly the sole supplier of pasteurized milk in the entire province.”Jaen said. Fresh carabao milk is naturally rich in essential nutrients such as calcium, vitamin B12, ribof lavin, phosphorus, and potassium, making it both a nutritious product and a promising raw material for Carco’s growing dairy enterprise. From bottled fresh pasteurized milk to locally made milkbased treats, Carco is taking another step toward expanding its market beyond Ragay and eventually serving consumers across Camarines Sur. With continued support from DAR, DOST, and other partners, the cooperative hopes to make its dairy products a stronger, more sustainable source of income for its farmer-members.

Agriculture sector sustains ₧4-B damage from storms, habagat

By Ada Pelonia @adapelonia

UCCESSIVE weather disturbances catapulted the damage on the agriculture sector to more than P4 billion, with the government allocating P187 million for insurance payouts to compensate farmers on their losses. In its latest report, the Department of Agriculture (DA) said torrential downpours from the southwest monsoon and typhoons Luis, Maymay and Neneng ravaged farmlands and fisheries worth P4.13 billion. The typhoons affected 97,589 farmers and fishermen as well as 81,383 hectares of plantations. The volume of production losses was already pegged at around 100,602 metric tons (MT), with rice sustaining the largest damage at 65,106 MT valued at P2.04 billion.

Despite the scale of losses, Agriculture Secretary Francisco Tiu Laurel said the damaged rice accounts for less than one percent of the 20.3 million metric tons (MMT) of production projected for 2026, limiting the likely impact on overall supply. “ U n f o r t u n a t e l y, m u c h o f the damaged r ice was a lready about to be h a r vested ,” Tiu Laurel said. He added, however, that the damage also extended to highvalue crops from the Cordillera Administrative Region (C AR)

and the fisheries sector, especially fish ponds in Bulacan and Pampanga. With this, Tiu Laurel raised a caveat that the damage could add to inf lationary pressures, particularly for vegetables and fish, where localized supply disruptions tend to translate into higher prices. Rice, however, should be less vulnerable to price pressures owing to ample supplies from recent domestic harvests and imports, he said. Meanwhile, the damage caused by successive weather disturbances prompted the Philippine Crop Insurance Corp. (PCIC) to allocate indemnification checks worth P187 million to almost 25,000 farmers as compensation. The PCIC noted that the payments cover losses reported from August 1 to 26 in eight regions, mostly in Luzon, and will benefit 24,987 farmers. Central Luzon accounted for the largest number of beneficiaries at 9,636, followed by the Ilocos Region with 3,874. PCIC President Jovy Bernabe

said rice farmers held the biggest share of insurance claims at P132.9 million. In addition, claims from corn farmers reached P9.3 million, while those covering high-value crops stood at P42.1 million. “We have issued strict instructions to our regional staff to continue extending their assistance to the affected farmers and speed up the processing of their damage claims,” Bernabe told Tiu Laurel in a report. The DA said this move comes as the agency further gauges the broader impact of recent typhoons and enhanced southwest monsoon on farm production and food supply. “The latest losses underscore the financial risks that extreme weather poses to farmers and the wider food supply chain,” the agency said. “For the government, faster insurance payouts can help farmers recover and resume production while reducing the risk that temporary production losses will turn into prolonged supply disruptions and higher food prices.”

Habagat may soften El Niño effect–DA

Noah. . .

HE repeated rounds of heavy rain could cushion the expected blow of El Niño on the local rice sector, the Department of Agriculture (DA) said. Agriculture Secretary Franciso Tiu Laurel Jr. said the recent weather disturbances could minimize the projected year-on-year decline in rice output to around 400,000 metric tons (MT), from its previous forecast of 700,000 MT. “Due to the habagat [southwest monsoon], we’re optimistic that [rice output decline] might be reduced by around half from 700,000 MT to just 400,000 MT in the worst-case scenario,” Tiu Laurel told reporters. “While the southwest monsoon has been helpful, we hope it doesn’t keep going,” he added. Latest DA report showed that the southwest monsoon and typhoons Luis, Maymay, and Neneng have caused over P4 billion worth of damage on the agriculture sector, with losses

Noah aims for faster, more accurate forecasting

pegged at over 100,000 MT. Earlier, Tiu Laurel directed DA agencies to continuously revise their response plans to the El Niño as part of efforts to minimize the drought’s impact on supply and prices. “The lessons we learned from the powerful El Niño episode that ended in mid2024 should help us respond better to the climate challenge we now face,” Tiu Laurel said. During the previous dry spell episode, the DA noted that global rice prices surged as weather concerns collided with India’s export restrictions. Also, Philippine agriculture output contracted in 2024, with adverse weather conditions causing rice production to fall 4.85 percent year-on-year. “A fresh drought could therefore squeeze domestic supply just as global markets remain vulnerable to weather and trade disruptions.” With this, Tiu Laurel said the DA is working on both immediate assistance to local producers and preemptive

measures to secure food supplies before weather disruptions translate into shortages and higher prices. The agency noted also strengthening irrigation, adjusting planting schedules, securing inputs, monitoring inventories, and preparing import and market interventions where necessary. Tiu Laurel said the strategy involves shifting production to less affected regions, expanding cloud seeding and solar-powered irrigation, and maximizing water efficiency. It also encompasses distributing drought-tolerant seed varieties, providing crop insurance indemnification, and extending emergency financial support to vulnerable farmers. “We have to produce more where the impact of El Niño will be less severe, increase the water available to farmers, and use every drop wisely through practices such as alternate wetting and drying and planting crops that require less water.” Ada Pelonia

PRICES, PRICES Fish venders at the Bulungan Public Market in Malabon City have been forced to increase prices owing to the reduced volume of catch due to the weeks-long inclement weather. PNA

Continued from A4

LAGMAY said Noah’s impactbased forecasting system is projected to forecast, one day in advance, where flooding may occur and its impact on roads, homes, buildings, and vehicular flow. “The P1 billion allocation for Upri will be measured by better information, transparency, evidence-based governance and decision-making, effective flood management, and reduced disaster risks and losses,” Lagmay said. Of the total allocation, P935 million will support research services, while P65 million will fund general management and supervision of Noah’s implementation. The allocation is part of the UP System’s built-in appropriation under the 2026 General Appropriations Act. Lagmay said Upri’s budget will fund high-resolution mapping of major river basins, hazard assessments, land-use planning, and Oplan Kontra Baha initiatives, in coordination with the DPWH, Metropolitan Manila Development Authority, local governments, and private-sector partners. The allocation will also support Light Detection and Ranging (LiDAR) drone topographic surveys, capacitybuilding programs with state universities and colleges, native tree mapping, sediment erosion assessments, mapping of hidden waterways, naturebased solutions, and the use of artificial intelligence and analytics for disaster-risk management. UP President Angelo Jimenez said the Marcos administration’s funding for Upri is “an investment in the power of research and innovation to serve the nation.” “We do research because knowledge matters, and knowledge matters most when it can help us make better decisions, solve real problems, and improve the lives of our people,” Jimenez emphasized. Samuel P. Medenilla with PNA

A6 Monday, September 7, 2026

The World BusinessMirror

Editor: Lyn Resurreccion • www.businessmirror.com.ph

Rescuers pull Chinese man, woman alive from Nepal debris By Shristi Kafle & Sheikh Saaliq

The Associated Press

ATHMANDU, Nepal— Rescuers in Nepal pulled out a Chinese man and a woman in separate operations Saturday, 10 days after devastating floods hit the country, as teams continued searching for thousands of missing people. The man was rescued from a hydropower tunnel, according to a social media post by the country’s prime minister’s office, bringing the total to three workers pulled alive from the Trishuli

hydropower project. Two Nepalese workers were rescued on Friday. In flood-hit Nuwakot town, a woman was rescued alive from a house, Nepal’s army spokesperson said Saturday. Officials said

A CHINESE national is seen drinking water after being rescued by soldiers during an operation at the Trishuli-3A hydropower project in Nepal’s Rasuwa district, on September 5. NEPAL ARMY VIA AP

she was airlifted to Kathmandu for treatment. Images released by Nepal ’s

army showed rescuers finding the woman covered in mud inside the damaged house. They gave her bottled water before pulling her to safety, wrapped in a gray blanket. At least 1,300 people were killed in the August 26 floods, which were likely caused by a glacier collapse, and more than 5,000 remain missing, according to Nepal’s disaster management agency. Nepal’s army said a joint rescue team of Nepalese military personnel and South Korean disaster experts rescued the man from a 225-meter (about 740-foot) tunnel and that he was undergoing a health assessment. Images showed him being evacuated by helicopter, with an army medic checking on him during the flight. A photo released by Chinese

state broadcaster CCTV showed two rescuers carrying the man, called Lu Haitao, out of the tunnel. CCTV shared audio of Lu talking to an officer, saying how he repeatedly shouted whenever he saw the rescue crews’ lights, but they could not hear him. “When they rescued me today, when they shone [the light] before my eyes, I couldn’t believe it,” he said. Lu was taken to a hospital and was in stable condition, according to CCTV. Lu’s sister, Lu Hairong, told Chinese state media Red Star News and Cover News that her 49-year-old brother was previously a farmer from Henan province in central China. She said Lu, who has a wife and son, also took additional work, mainly carpentry, during his spare

Embattled lawyer for China’s Zion Church seeks resettlement while transiting in Taiwan By Kanis Leung & Huizhong Wu The Associated Press

ONG KONG —A Chinese l aw yer who defended a prominent underg round church in Beijing fled to Taiwan and is seeking help for resettlement abroad, following mounting pressure from Chinese authorities on her firm and her colleagues. Ruth Wang, partner at VDoor Law Firm, was part of a legal team that represented pastors and others from the Zion Church in Beijing since October 2025. In an exclusive interview with The Associated Press, Wang said she is now facing direct pressure from Chinese authorities. She said they told her that she and her colleagues must dissolve their firm or have it shut down by authorities. Last October, 18 members of the Zion Church in China, including its founder, pastor Ezra Jin, were arrested in one of China’s largest crackdowns on a single church in decades. Jin was freed two months ago, after US President Donald Trump brought his case to his Chinese counterpart Xi Jinping during a May meeting. “If, as a partner in the firm, I don’t cooperate and sign to dissolve it, what will happen next?” Wang said Thursday in the online video interview from Taiwan, where she is in transit while seeking help on her next steps. “I believe it will definitely seriously affect my career development and other aspects of my life,” she said. Her plight highlights how China’s pressure against the church and

THIS photo, provided by Ruth Wang, shows her at an airport in Taiwan on Wednesday, September 2. RUTH WANG VIA AP

those affiliated with it continues, despite Jin’s release. Zion Church, founded by Jin in 2007, is among the largest so-called underground or house churches that are unregistered with the Chinese authorities. They defy Chinese government restrictions requiring believers to worship only in registered congregations. Sean Long, a Chinese Zion Church pastor currently studying in the United States, estimated last year that its membership includes about 5,000 people, with over 100 worship sites in apartments, restaurants, and even karaoke bars in around 40 cities across China. Under Beijing’s tightening grip, lawyers assisting those whom authorities viewed as dissidents also have faced pressure. Wang’s law firm has faced continued threats from Chinese authorities VDoor has recently encountered a series of challenges. The license of the firm’s founder and Wang’s

mentor, Zhang Kai, was revoked, and he was barred from leaving the country; other lawyers at their firm were suspended from practicing for six months, Wang said. Judicial authorities have asked the firm’s lawyers to stop representing cases linked to Zion Church and leave the company, she said. When some of the firm’s lawyers wanted to switch to other firms, they faced restrictions, she added. While on summer vacation in Japan with her family last month, Wang said Chinese authorities called and asked her to come meet them in person. She told them she couldn’t as she was not in Beijing, and then decided not to go back. Bob Fu, founder of ChinaAid, urged Taiwan’s government to protect Wang’s family and ensure they would not be forcibly returned to mainland China. He also called on the US and other democratic governments to be prepared to assist Taiwan in finding a solution.

China’s Public Security Bureau did not immediately comment. The US State Department said the Chinese Communist Party acts with hostility toward Christians, especially those who reject party interference in their faith and choose to worship at independent house churches. It called on the party to allow all people of faith to engage in religious activities without fear of retribution. Upon arriving at a Taiwanese airport with her family, Wang sought help from local authorities, requesting permission to stay while she contacted other countries. While Taiwanese authorities allowed her to remain on the island temporarily, they told her that Taiwan could not accept cases of political asylum from mainland China because of tensions between the Chinese government and the ruling Democratic Progressive Party. Taiwan, which China views as part of its territory, does not have a formal refugee policy. As relations between Beijing and Taiwan have become increasingly strained, the island also has become increasingly wary of security risks posed by China. In an emailed reply, Taiwan’s Mainland Affairs Council said that although Taiwan has no law for handling political asylum, it has a mechanism in response to such cases and would deal with it accordingly. Wang is exploring resettlement options, including studying in the US or Canada as a way for her family to relocate. If that was not an option, they would apply for asylum abroad.

time before heading to Nepal for work with a fellow villager in February, Red Star reported. Lu’s family had been worried since the mudslide occurred, and his sister was thrilled when she saw her brother’s photo on the news. “It’s a stroke of sheer luck amid the misfortune,” she told Cover News, referring to the rescue. Rescue efforts have increasingly focused on 12 hydropower projects across Nepa l, where about 900 workers are missing and roughly 500 are believed to be trapped in various tunnels, authorities said. Specialized rescue teams from India, China, South Korea and the United States have been searching through debris, damaged structures and tunnels at the projects, hoping to find survivors.

JAPAN’S Prince Hisahito (right) visits the Science Museum of Map and Survey in Tsukuba, Ibaraki prefecture, Japan, on August 13, ahead of his 20th birthday on September 6. THE IMPERIAL HOUSEHOLD AGENCY OF JAPAN VIA AP

Prince Hisahito turns 20 as Japan’s govt reinforces male-only succession rules By Mari Yamaguchi The Associated Press

OKYO—Prince Hisahito turned 20 on Sunday as he faces growing attention as a future monarch in Japan following the government’s unpopular revision to the Imperial House Law that reinforces male-only succession rules. Hisahito, the nephew of Emperor Naruhito, is second in line to Japan’s 1,500-year-old Chrysanthemum Throne and the youngest of 16 members of the rapidly shrinking and aging imperial family. The child who loved animals and bugs, especially dragonflies, is now a sophomore majoring in biology at the University of Tsukuba near Tokyo. He has been often spotted on campus with friends, sometimes carrying a bug-catching net or on his bicycle. While he mostly concentrates on his studies, Hisahito started taking on some official duties. He attended a palace banquet for Philippine President Ferdinand Marcos Jr. in May, prayed for the atomic bombing victims in Hiroshima and joined a teenagers’ camp in the southwestern Japanese city in August. Hisahito is often compared to his hugely popular cousin, 24-year-old Princess Aiko, who has impressed everyone with her ability to interact with people and make them smile.

She is the emperor’s daughter and most Japanese want her to be his successor, even though as a woman she is ineligible. The revised succession law enacted by Japan’s Parliament in July lifts a ban on the adoption of male offspring from extremely distant former royal families. It lets female royals keep their status after marrying a commoner, so they can continue to undertake official duties, but their future partners and offspring won’t be royals. The revisions to the 19th-century law have been criticized as anachronistic and sexist and led to protests from Japanese who see the changes, which were backed by conservative Prime Minister Sanae Takaichi, as an attempt to eliminate Aiko from ruling while justifying discrimination against women and a patriarchal system. Experts say the measures will put Hisahito and his eventual wife under enormous pressure to bear a male child as they determine the future of the imperial family. Asked about his future and marriage plans at his debut news conference last year, Hisahito said his main focus was to study and expressed hopes to spend some time overseas to gain new perspectives and meet people from different backgrounds and cultures. “About marriage, I haven’t thought about an ideal timing or a partner yet,” he said.

Jakarta airport flights cancelled as Anak Krakatau volcano erupts By Tatan Syuflana & Niniek Karmini The Associated Press

AKARTA, Indonesia—Indonesia’s Anak Krakatau volcano erupted early Sunday, prompting the cancellation of all flights at Jakarta’s Soekarno-Hatta International Airport as volcanic ash drifted across parts of western Indonesia. Indonesia’s Geological Agency said the volcanic island located in Indonesia’s Sunda Strait between the main Java and Sumatra islands had showed signs of activity since Friday before erupting for 30 seconds at 3:53 a.m. Sunday. The agency’s closedcircuit camera showed lava flares at the mountain. There were no casualties reported and no evacuation order issued. The nearest settlement is more than 16 kilometers (10 miles). But the agency warned residents and visitors to stay at least 3 kilometers (1.9 miles) from the volcano’s active crater. Volcanic ash spread across parts of the capital Jakarta and Lampung province on

the southern tip of Sumatra island, Indonesia’s Center for Volcanology and Geological Hazard Mitigation said. “Due to increased activity from the Mount Anak Krakatau eruption, SoekarnoHatta International Airport has temporarily suspended flight operations from 5:30 a.m. to 9.30 a.m.,” the airport said in a travel advisory early Sunday. Passengers at the country’s busiest airport sought refunds and reclaimed checked baggage as departure boards displayed a growing list of canceled flights. Indonesia’s Directorate General of Civil Aviation said it was closely monitoring the eruption’s impact on air travel and coordinating with airlines, airport operators, air navigation services and the meteorology agency. It said 170 aircraft parked overnight at Soekarno-Hatta remained on airport aprons. The closure had affected 209 flight movements and about 22,800 passengers on Sunday, including the busy domestic route to Makassar in South Sulawesi, while Singapore was the international

destination with the highest number of disrupted flights. Other international flight disruptions including cancellations, delays and rescheduled services involved Hong Kong, Sydney and Amsterdam, as well as Seoul, South Korea, Doha, Qatar, and Kuala Lumpur, Malaysia. Domestic flights to Lampung, Bali and Surabaya also were canceled or diverted. “Safety remains our top priority in every operational decision,” Lukman F. Laisa, Ministry of Transportation director general of civil aviation, said in a statement. He warned flight schedules could face cascading disruptions affecting aircraft rotations, fleet availability and terminal capacity as airlines work to restore operations. Authorities urged travelers to check with airlines for the latest flight information and advised passengers temporarily avoid the airport unless necessary. Indonesia’s volcanology agency and the Darwin Volcanic Ash Advisory Centre in Australia identified two ash clouds using satellite imagery. One plume rose to an altitude of 20,000

feet (6,100 meters) while drifting northeast, affecting parts of Jakarta, Banten, West Java and surrounding waters. A second cloud reached 50,000 feet (15,200 meters) and was moving westward and northwestward, covering parts of Banten, Lampung and Bengkulu provinces, the southern Sunda Strait and sections of the Indian Ocean west of Sumatra. Anak Krakatau, which means “child of Kratakau,” is the offspring of the famous Krakatau, whose monumental 1883 eruption triggered a period of global cooling. The eruption caused a tsunami in 2018 that killed at least 430 people in Sumatra and Java. Researchers believe volcanic activity triggered an underwater landslide and caused a large chunk of Anak Krakatau’s southwest slope to collapse and displace a large volume of water. The volcano has been rated at second highest alert status on a scale of four since has remained in place since then. Scientists said Anak Krakatau island is now only about a quarter of its original size.

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Iran claims strike on US ship in Strait of Hormuz, after US forces strike three Iranian oil tanker By Samy Magdy & Julia Frankel

The Associated Press

AIRO—Iran said Sunday it struck an unmanned US vessel trying to enter the Strait of Hormuz, the latest salvo in a new flare-up of fighting between the two countries. The US did not immediately confirm the purported attack, which came a day after the US military said forces struck three Iranian oil tankers in response to a missile attack on Navy warships. US Navy warships were targeted with ballistic missiles, the American military said Saturday, warning that it would “if necessary, destroy Iran’s limited and exposed oil fleet.” Experts called it a dangerous escalation after Iran’s previous attacks at sea targeted commercial shipping. The US strikes—a day after US President Donald Trump sought to minimize the conflict as “small potatoes”—keep up a new tilt back toward fighting after six months of on-again, off-again war. The military’s statement said an American aircraft

carrier and a destroyer evaded “multiple unprovoked Iranian attacks” while patrolling in the region and no US personnel were hurt. The statement said that two Iranian oil carriers were “permanently disabled” and the third, unladen one, was destroyed. The US statement called the tankers part of a shadow network helping to fund Iran’s powerful Revolutionary Guard and its armed proxies in the region. The war began with US and Israeli attacks on Iran on February 28. But since a ceasefire agreement was announced in June, on-and-off fighting has persisted with both sides trying to inflict military and economic pain as negotiations have collapsed. The US and Iran resumed attacks last week, following a month of relative calm, with the Strait of Hormuz and Iranian communities along it again being targeted. At least five people were killed earlier in the week during a US bombardment of southern Iran. The Trump administration appears to have adopted a dual-prong approach to the conflict, responding mili-

tarily to attacks on the strait while going after foreign financial institutions that handle Iran’s money. But Tehran’s hard-line new senior leaders have signaled the willingness to dig in after weathering decades of sanctions. Iran has found ways over the years to circumvent sanctions, and now the US blockade, and get its oil to buyers to help ease growing economic pressures. That relies in part on a shadow fleet transporting its oil. Meanwhile, Iran’s nuclear program, the issue that contributed to the outbreak of the war, was meant to be addressed in negotiations that fell apart soon after the US and Iran signed a memorandum of understanding in mid-June. Diplomats say the US, Britain, France and Germany seek to refer Iran to the UN Security Council for failure to comply with its nuclear nonproliferation obligations. Instead, Tehran’s new leverage focuses on the Strait of Hormuz that is crucial to global oil and natural gas shipments and was seen as an international waterway before the war began.

Masked men block roads into England port in apparent anti-immigrant protest By Jill Lawless

The Associated Press

ONDON—Hundreds of masked anti-immigration protesters blocked roads leading to Britain’s busiest ferry port on Saturday, clogging traffic and disrupting travelers and cargo vehicles heading for France. The UK government condemned the action, saying it went well beyond peaceful protest. The Port of Dover said Saturday morning that all traffic in and out was “stopped due to an ongoing public order incident,” and police said they were

“engaging with the protesters.” Video posted on social media showed several dozen men in black, their faces covered, standing across a major road near the port. One clip showed demonstrators linking arms across a main road and shouting “stop the boats.” Far-right activist Stephen Yaxley-Lennon, who uses the name Tommy Robinson, wrote on X that “patriots have mobilised to close down the port.” Chris Vinson, a Conservative Party local councilor, said the demonstration involved several hundred people and appeared to be “illegal migrationrelated.”

“I’m not aware that there’s been any violence, although clearly, having the path of your vehicle blocked by men wearing black paramilitary gear and balaclavas is extremely intimidating,” he said. The Labour Party government said “the right to peaceful protest is fundamental to our democracy, but we condemn the behavior in Dover and the travel disruption it has caused.” “We appreciate the frustration of those who have been impacted today,” it said in a statement. The National Highways agency said the protest blocked all routes to the port and caused a 6.4-kilometer (km) traffic jam.

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US ambassador calls violent Israeli settlers ‘terrorists’ after weeks of West Bank unrest By Ibrahim Hazboun & Cara Anna The Associated Press

ERUSALEM —The United States ambassador to Israel condemned Israeli settler violence in the occupied West Bank again on Saturday, calling the behavior an “act of terror” as he visited with Palestinian American residents shaken by months of attacks. Ambassador Mike Huckabee referred to such settlers as “terrorists,” a word that US officials usually reserve for Palestinian militants. “If there are squatters that come in and put up their own flags and take possession of something that does not belong to them, if they burn a car, if they torch a mosque, if they go into someone’s home and vandalize it, paint graffiti on the walls, that’s a criminal act. But it extends beyond a criminal act. It’s an act of terror,” Huckabee said during his visit to the village of Turmus Ayya, which has reported frequent attacks by settlers over the past year. Such attacks have surged since the war in Gaza began with the Hamas-led attack on southern Israel on October 7, 2023, according to the United Nations humanitarian office. Huckabee also used the term “terrorists” last month after weeks of unrest in the West Bank town of Qusra, where settlers surrounded several homes including one owned by a Palestinian American. Days later, residents of the West Bank village of Bazariya said settlers burned a mosque and left a message on a wall in graffiti reading “Huckabee regards from the terrorists” in Hebrew. “I’m glad they admitted it,” the ambassador said Saturday of the incident, adding: “I don’t think that’s what they intended to do, but I do think that they represent a very tiny minority.” A week ago, Israeli Prime Minister Benjamin Netanyahu condemned the actions of a “handful of rioters,” and the foreign ministry called the settlers’ actions “a disgrace.” Netanyahu’s government is the most ultranation-

alist and religious in Israel’s history. It has presided over a surge of settlement construction in the West Bank. Most of the international community views settlements as illegal. On Saturday’s visit to Turmus Ayya, the ambassador began his remarks by making clear he was addressing US citizens, who make up a small percentage of the roughly 3 million Palestinians in the West Bank but a significant part of the village’s population. “I’m very aware that a lot of the American people who live in Turmus Ayya and other communities across this region are not enjoying the life they deserve to live, not enjoying it in a peaceful way,” Huckabee said. “It’s a life that is disturbed by people who have created extraordinary challenges that are unfair and illegal.” The US Embassy can’t investigate criminal activity, he said, but it can tell its host government “there are needs that need to be addressed, there are issues that cannot go unnoticed, and specific crimes and acts of terror that cannot continue without that country doing the investigation and adjudication that every person has a right to expect.” Huckabee met with about 10 Palestinian American residents who described the impact of the violence on their lives and properties, the municipality told The Associated Press. Israel captured the West Bank, along with Gaza and east Jerusalem, in the 1967 Mideast war, territories the Palestinians want for a future state. The UN and much of the international community consider them to be illegally occupied. Since then, the Israeli government has built nearly 150 settlements that are home to well over 500,000 Jewish settlers. Many settlements resemble developed suburbs. Israel’s military operates in all parts of the West Bank, but rights groups have said the military frequently turns a blind eye to settler violence. The settlers are Israeli citizens, and Israel’s defense minister recently announced plans to fully transfer law enforcement among settlers to the Israeli police.

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Putin meets with US envoys at Kremlin to end Ukraine war

By Katie Marie Davies The Associated Press

Briefs . . .

USSIAN President Vladimir Putin met with US envoys Steve Witkoff and Jared Kushner at the Kremlin on Saturday for renewed talks on ending Russia’s war in Ukraine. Afterward, the US envoys are set to arrive in Kyiv on Sunday in their first visit to the Ukrainian capital, Kyiv. The meeting with Putin that lasted more than three hours behind closed doors ended without announcements of any breakthroughs. Putin’s foreign policy adviser Yuri Ushakov described them as constructive, frank and useful to journalists afterward, but didn't talk about specific outcomes. Witkoff and Kushner are expected in Kyiv on Sunday. The talks come as both sides continue to escalate aerial attacks. Putin and Ukrainian President Volodymyr Zelenskyy both agreed to pause strikes on each other’s capitals while the talks took place. Washington’s push to end the fighting has lost momentum as US attention has been focused for the past six months on the Iran war. The last known visit to Moscow by Witkoff and Kushner, US President Donald Trump’s son-in-law, was in January, when they also held talks with Putin at the Kremlin.

A first trip to Kyiv for the US emissaries BOTH US envoys w il l a lso v isit Ukraine's capital, Kyiv, for the first time in the peace process on Sunday, Ukrainian officials said. At the start of the meeting in Moscow, Putin asked Kushner and Witkoff to pass on his warm wishes and gratitude to Trump, and described the situation in Ukraine as “not simple.” Russian forces launched an all-out invasion of Ukraine on February 24, 2022. “[Russian President Vladimir] Putin has ordered that no strikes be car-

ried out against Kyiv for three days, starting at midnight today,” presidential spokesperson Dmitry Peskov told Russia’s Tass news agency. Zelenskyy said that Ukraine was prepared to halt strikes on Moscow until Monday. He said he spoke on Saturday afternoon with the US delegation after their arrival in Moscow. "From now through the end of Saturday, as well as on Sunday and Monday, Ukraine is ready to refrain from strikes on Moscow, and we expect the Russians to do the same regarding Kyiv,” he said. The US envoys were met at the airport in Moscow by Russian envoy Kirill Dmitriev, Tass reported. Dmitriev shared photos of him meeting with the US delegation as they disembarked, alongside the caption, “Welcome to Moscow Peacemakers.” After the talks in the Kremlin, Ushakov described the talks as constructive and carried out with the utmost openness and trust. He said Moscow offered its “comprehensive assessment” of the battlefield situation in Ukraine, but also that the conversation was not purely focused on Russia’s invasion. “Economic issues and potentially large, mutually beneficial joint projects for Russia and America were discussed in considerable detail,” he said.

Peace process at a standstill WITH peace efforts stalled, Russia has intensified its attacks on Kyiv and other cities with relentless bombardments stretching into daylight hours, taking advantage of Ukraine’s shortage of air defense systems.

China mudslide kills 2, leaves 10 missing after heavy rain from Typhoon Saudel

BEIJING —A mudslide killed two people and left 10 missing in eastern China, damaging a dozen houses following days of torrential rain brought by Typhoon Saudel, state media said Sunday. The mudslide hit part of a village in Suichuan County in Jiangxi province early Saturday, prompting rescuers to rush to the scene and relocate residents to safer ground to prevent further danger, authorities said in a statement. One person pulled out was found dead, while two others were rescued alive and in good condition, it said. Rescuers on Sunday morning found one of the missing people, who was dead among collapsed houses, state broadcaster CCTV reported.mCCTV separately reported that two people were killed in Hunan province in south-central China following downpour brought by the typhoon. The report did not specify what caused the death but said the rain triggered landslides and other disasters. AP PRESIDENT Vladimir Putin (right) greets US President Donald Trump’s envoys Jared Kushner (left) and Steve Witkoff (center) prior to talks at the Senate Palace of the Kremlin in Moscow, on Saturday, September 5. MIKHAIL METZEL/SPUTNIK/KREMLIN POOL PHOTO VIA AP On Friday, a Russian drone hit one of the most important government buildings in Kyiv—the headquarters of Ukraine’s Security Service, known as the SBU, which is one of the agencies involved in carrying out deep-strike operations inside Russia. The long-range strikes by Ukraine have hit Russian military facilities, oil refineries and e-commerce hubs, seeking to undermine the Kremlin’s war effort and economy, as well as make ordinary citizens feel the consequences of the war.

Zelenskyy links Russian strikes to envoys' visit THE air war between Russia and Ukraine has intensified as troops have struggled to make progress along the 1,250-kilometer (775mile) front line. Russia has recently been using fast-f ly ing, jet-powered drones, and the recurring wail of air-raid sirens has become part of daily life in Kyiv. In a social media post on Saturday, Zelenskyy said that Russia had carried out overnight strikes on Kyiv and Boryspil international airports, and linked the attack to the planned US visit. “Clearly, these Russian strikes on the air ports are a reaction to the discussions and preparations for the possibility of the US side using an aircraft to travel to Ukraine,” he said. “We have taken note of this Russian move, and next week we will adjust our operation accordingly regarding Russian airspace, which has become dangerous because of our drones and missiles in the sky. Of course, there are and will be no threats to diplomacy from our side.”

Russian strikes kill multiple civilians in Ukraine RUSSIAN attacks killed five peo-

England... Continued from A7

Chris Vinson, a Conservative Party local councilor, said the demonstration involved several hundred people and appeared to be “illegal migration-related.” “I’m not aware that there’s been any violence, although clearly, having the path of your vehicle blocked by men wearing black paramilitary gear and balaclavas is extremely intimidating,” he said. The Labour Party government said “the right to peaceful protest is fundamental to our democracy, but we condemn the behavior in Dover and the travel disruption it has caused.” “We appreciate the frustration of those who have been impacted today,” it said in a statement. The National Highways agency said

A wedding party fire in Congo’s capital leaves at least 22 dead

ple and wounded five others at an industrial facility in Ukraine’s southern Dnipropetrovsk region, local military administration head Oleksandr Hanzha said. He described those killed as employees at the site. “A locksmith, an electrician, a plumber and a machinist. People of peaceful professions. They were simply working their shift. They were doing their job when enemy missiles cut off their lives,” he said. A 62-year-old man was wounded, and several homes and an apartment building were damaged, in a separate attack on the region’s Nikopol district, Hanzha said. In a statement on Saturday, Russia’s Ministry of Defense said that it had carried out strikes on two metallurgical plants in the region, describing them as “major suppliers of metal products for Ukraine’s military production.” The city of Dnipro and the nearby Pidhorodne community were among the areas hit. One person died and five other were injured, including two men who were hospitalized in serious condition, Hanzha said. A service station, supermarket, industrial facility, apartment buildings and vehicles were damaged. A sixth civilian was injured in an attack on the Nikopol district. A Russian drone also struck a house in Chuhuiv in Ukraine’s eastern Kharkiv region, killing at least three people and wounding a 40-year-old woman, regional administration head Oleh Syniehubov said. The victims were a 19-year-old woman, an 11-year-old boy and a 45-year-old man. The strike destroyed a residential building, an outbuilding and a garage, Syniehubov said. Firefighters were battling a blaze as local authorities searched the area for any additional casualties.

Two people were killed and another person was wounded in a Russian drone attack on the Bucha district of Ukraine’s Kyiv region on Saturday, local officials said. Earlier on Saturday, head of the regional military administration Tymur Tkachenko said that two people were wounded in an overnight attack on the region. As of Saturday evening, 28 facilities in five districts of the region had been damaged, Tkachenko said. These included private and apartment buildings, warehouses, railway tracks, the territory of an agricultural enterprise and vehicles, he said. Russian forces also repeatedly struck a shopping center in the southern Mykolaiv region with drones overnight, damaging retail premises and sparking fires, Ukraine’s state emergency services said. A 72-year-old man and a 17-year-old girl were wounded. Emergency crews responding to the attack were repeatedly forced to withdraw to safety because of the threat of further strikes, returning whenever conditions allowed, the emergency services said. Russia launched ballistic missiles from its Rostov and Voronezh regions and deployed 167 attack drones overnight, Ukraine’s air force said. The drones included Shahed-type aircraft—around half them jet-powered—as well as Geran and decoy drones. Ukrainian air defenses shot down or suppressed 128 drones, according to the air force. In Russia’s Belrogod region on the border with Ukraine, two people were killed and three others were wounded by Ukrainian attacks on Saturday, local authorities said. Russia’s Defense Ministry said in a statement that its forces had shot down 53 Ukrainian drones overnight.

the protest blocked all routes to the port and caused a 6.4-kilometer (km) traffic jam. Police were later filmed following protesters toward Dover’s railway station. P&O Ferries said just before midday that “access to the Port of Dover has now been restored.” P&O, which runs services between Dover and Calais in France, said passengers who missed their ferry would be offered the next available crossing. Dover, about 110 km southeast of London, dealt with more than 9 million passengers and 2 million freight vehicles in 2025, according to the port’s website. The town has been the site of previous anti-immigrant protests focused on migrants who cross the Channel from France in small boats. Successive UK governments have struggled to stop people—more than 40,000 last year—making the dangerous

journey across one of the world’s busiest shipping lanes. The issue has been depicted as a crisis by politicians, including Nigel Farage of the hard-right party Reform UK. He branded the asylum seekers “an invasion” in a Friday speech. Prime Minister Andy Burnham’s government says stepped-up law enforcement cooperation between Britain and France has helped reduce the number of people making the crossing so far this year by more than 40% compared to 2025. Mike Tapp, a Labour lawmaker who represents Dover in Parliament, criticized “idiots coming to Dover to cause disruption.” “I bet if you asked any one of those ‘protesters’ they wouldn’t know small boat crossing[s] are down by 40 percent and we are working hard to fix the mess,” he wrote on Facebook on Saturday. “Go home, enjoy your weekend/get a job.”

A fire at a wedding party in Congo ‘s capital Kinshasa left at least 22 people dead, the regional mayor said Saturday. Several others were injured. The fire started Friday night and continued into early Saturday in a building in Lingwala in northern Kinshasa. The building’s narrow hallways were constricted by people trying to escape the fire. Several people— some alive and some dead—were laid by the roadside as attendees tried to help those who were still alive. The mayor of Lingwala, Norbert Mushinga, told the Congolese Press Agency that the provisional death toll was 22. He said the toll could rise further. The exact cause of the fire was unconfirmed. “It is a tragedy,” Jacquemin Shabani, Congo’s deputy prime minister and interior minister, said. The minister visited the site Saturday morning. AP

Greeks promised tax relief, wage hikes as thousands protest over cost of living

THESSALONIKI, Greece—Greece’s conservative government promised sweeping tax breaks and pay hikes before a general election next year, as thousands gathered in protest late Saturday over the high cost of living. “Our country has overcome stagnation and is now ready to taste the fruits of its efforts,” Prime Minister Kyriakos Mitsotakis said. “As the country stabilizes, there will be relief from heavy taxes, higher incomes and bold reforms.” He spoke at an annual speech on the state of the nation’s economy in the northern city of Thessaloniki, where more than 25,000 people took part in union-led protests, according to police estimates. Labor unions and multiple protest groups staged rallies across the city, with farmers driving tractors into the downtown area. More than 3,000 police officers were on duty, closing streets and subway stations near the venue where the prime minister spoke. Greece delivered a budget surplus and economic growth of 2.1 percent last year, while continuing to reduce its high public debt, but its workers had the lowest purchasing power in the European Union. AP

Cubans, Afghans deported from US arrive in Guyana

GEORGETOWN, Guyana—Guyana’s government said Saturday it has received the first of six deportees from the United States under the Trump administration’s third-country deportation program. Guyana’s Foreign Secretary Robert Persaud said the six nationals from Cuba and Afghanistan arrived in the South American country Friday after being vetted by his administration and found to have no criminal background. He added the group was kicked out of the US primarily because of immigration issues. Persaud said his administration reached an agreement to host the deportees after months of negotiations. He also told The Associated Press that “the US has not made any further requests.” The arrangement will run for a year and does not constitute permanent resettlement, he said. Those relocated to Guyana under the Assisted Voluntary Return Program will await the outcome of their immigration status determination while in Guyana. They could ultimately return to their country of origin or be relocated somewhere else. The UN International Organization for Migration is responsible for implementing the program, authorities in Guyana said, adding that the government will not bear any housing or supporting costs. AP

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PHL TOURISM UNIT IN JAPAN NETS P1.08B IN SALES LEADS By Ma. Stella F. Arnaldo Special to the BusinessMirror

HE Tourism Promotions Board (TPB) has been able to raise the profile of the Philippines and a number of local destinations through its recent travel fairs. At last month’s Philippine Business Mission (PBM) in Japan, 1,284 strategic business-tobusiness (B2B) meetings were held in Osaka, Nagoya, and Tokyo and generated some P1.08 billion in sales leads, according to a news statement. The TPB said this was a 168.63 percent increase from the leads secured in the same event last year. TPB is the marketing arm of the Department of Tourism (DOT), and Japan is among the board’s 13 key source markets for tourists. Under the General Appropriations Act of 2026, the TPB is targeting the arrival of 6.98 million foreign tourists from these 13 markets this year.

Arrivals up from Japan

MEANWHILE, in Japan, the PBM was held from August 3 to 7 to strengthen tourism linkages and drive visitor arrival growth from Japan. Of the total sales leads generated, Tokyo delivered the highest at P596.31 million from 600 sessions. The business mission also highlighted 70 years of diplomatic relations between the Philippines and Japan, which underscored tourism as a pillar of the two nations’ bilateral relations. From January to August this year, visitors from Japan reached 350,191, up 0.76 percent, year on year, as per DOT data from e-travel forms. These are arrivals by country of residence and includes Filipinos living in

Japan. Based on their passports of nationality, Japanese tourists from all parts of the globe reached 310,196 in the same period. No comparative data was available. Aside from the B2B meetings, PBM also featured destination seminars and networking receptions. “As one of the TPB’s flagship tourism initiatives in Japan for over 16 years, the PBM plays a vital role in positioning the Philippines as a top-of-mind destination for Japanese travelers,” said TPB Chief Opearting Officer Ma. Margarita Montemayor-Nograles. Sixty-five delegates representing 39 Philippine sellers attended the PBM. These included major hotel chains, luxury resorts, integrated properties, destination management companies, and airlines. The Visayas region was the most represented among the participating sellers, as per the TPB. Japanese travelers buyers were offered a diverse number destinations such as Manila, Cebu, Bohol, Boracay, Palawan (including El Nido, Coron, and Puerto Princesa), Siargao, Ilocos Sur, and key hubs for MICE (Meetings Incentives Conventions Exhibitions).

Empowering local biz

“PBM in Japan 2026 has proven to be a powerful driver of growth in one of our key source markets,” said Nograles. “By generating over P1 billion in sales leads, our private and public sector partners have demonstrated the immense potential of Philippine tourism. As we commemorate 70 years of diplomatic relations with Japan, these meaningful B2B connections reinforce our commitment to deepening partnerships and welcoming more Japanese travelers to discover more reasons to love our islands.”

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Weather, inflation, weak peso could spur 2 more rate hikes

By Andrea E. San Juan

DVERSE weather conditions, a still-elevated inflation environment which could continue to weigh on prices of food such as rice, and the recent depreciation of the Philippine peso will likely prompt the central bank to deliver rate hikes in its last two policy meetings this year. Alongside oil, the biggest risk to inflation in the coming months is the potential super El Niño, according to Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. “The full impact of this phenomenon may only materialize in the first quarter of 2027, with food prices remaining the most vulnerable among consumer items,” Neri said in a commentary over the weekend. Neri explained that rice prices are “particularly sensitive to adverse weather conditions, and rising fertilizer costs could further amplify the effect of poor weather on food supply by raising farmers’ production costs.” Against this backdrop, he said the

Bangko Sentral ng Pilipinas (BSP) may continue to deliver rate hikes in the last two policy meetings of 2026, likely 25 basis points each, which would bring the policy rate to 5.50 percent. “Additional hikes later on will depend on the severity of El Niño,” added Neri. Meanwhile, he said the central bank will likely keep rates steady for most of 2027, with further increases possible should the impact of El Niño prove more severe than currently anticipated.

Peso depreciation

ASIDE from oil and potential super El Niño, Neri said the recent slump

of the local currency likely signals the market’s view that additional rate hikes may be needed given the risks to inflation, as well as other external headwinds such as the recent surge in global bond yields. “With inflation still elevated and the outlook uncertain, keeping the door open to further rate adjustments may be necessary to keep inflation expectations anchored,” the BPI lead economist said. He said the central bank may also need to preserve “policy flexibility” in case the US Federal Reserve delivers a rate hike. “If currency weakness due to Fed tightening materially adds to inflation, the BSP may have to respond with a rate adjustment of its own,” added Neri. The Philippine peso plunged to a fresh record low of P62.59 against the dollar on Friday, data from the Bankers Association of the Philippines (BAP) showed. Analysts have recently cited the growing expectations of a Federal Reserve rate hike as one reason behind the dollar’s strength, which has contributed to the weakening of the peso. (See: https://businessmirror.com. ph/2026/09/01/peso-hits-newall-time-low-on-global-jitters/)

Economic recovery

MEANWHILE, the private bank’s

lead economist pointed out that should the economy prove to have recovered in the second half of 2026, this could give the central bank more room to adjust its policy rate further if needed. “Favorable base effects in government construction, following the decline in public spending that began in the third quarter of 2025, may support a better year-on-year growth rate and reinforce the cast for keeping the door open to additional tightening,” Neri said. Neri laid out these potential scenarios against the backdrop of headline inflation easing to 6.1 percent in August from 6.2 percent in the previous month. This was the fourth consecutive month that headline inflation softened. Meanwhile, core inflation also slowed to 4.1 percent from 4.2 percent. Year-to-date, the average headline inflation is at 5.2 percent, which is still above the central bank’s 3 percent full-year inflation target and the tolerance range of plus or minus 1 percentage point. During the Monetary Board’s August 27 monetary policy meeting, the highest policy-making body of the BSP opted to raise the key interest rate by 25 basis points for See “Rate hikes,” A2

Wellness sector nets $47B in PHL; Asean eyes integration By Malou Talosig-Bartolome

ALL RISE: THE 2026 BAR EXAMS BEGIN Aspiring lawyers arrive with family and friends at the University of Santo Tomas in Manila on Sunday, September 6, for the first day of the 2026 Bar Examinations. The Supreme Court cleared 13,441 of the 14,291 registered applicants to take this year’s exams, which are being administered over three days at 15 local testing centers nationwide. NONIE REYES

LTFRB OKs 8,750 new ride-hailing slots By Lorenz S. Marasigan

HE Land Transportation Franchising and Regulatory Board (LTFRB) said on Sunday it has approved 8,750 new slots for ride-hailing service in Metro Manila, the Ilocos Region and the Bicol Region, with the entire Metro Manila allocation restricted to electric vehicles. Of the total, 7,500 Transport Network Vehicle Service (TNVS) slots were opened for the National Capital Region (NCR)—the largest single allocation—and these will be available only to plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). “Conventional internal combustion engine [ICE] vehicles, hybrid electric vehicles [HEVs] other than PHEVs, and other vehicle technologies that do not fall within the BEV

or PHEV classifications shall not be eligible for the slots opened herein,” LTFRB Memorandum Circular 2026084 read. The circular added that “the classification of the vehicle as a BEV or PHEV shall be based on its registration and classification by the Land Transportation Office [LTO] and other applicable government standards and issuances.” Acting LTFRB Chairman Greg G. Pua Jr. said the electric-only condition follows the national government’s push for a modern and environment-friendly public transportation system. In his recent State of the Nation Address, President Ferdinand Marcos Jr. committed support to modern public transportation and set a goal of having half of all vehicles on the road running on electricity by 2040. The board opened 650 slots for the

Ilocos Region, half of which are reserved for electric vehicles. Under LTFRB Memorandum Circular 2026-88, Ilocos Norte was allocated 150 slots—75 for internal combustion engine units and 75 for non-internal combustion engine units. The same allocation and split were approved for Ilocos Sur and La Union. Pangasinan received 200 slots, evenly divided between the two categories. In the Bicol Region, 600 TNVS slots were approved under LTFRB Memorandum Circular 2026-86, with half likewise allocated to electric vehicles. Pua said the decision to open the slots was based on monitoring and study of prevailing transport conditions, which showed that existing TNVS allocations were insufficient to cover the geographic reach and rising commuter volumes in Metro

Manila, the Ilocos Region and the Bicol Region. Feedback from stakeholders also supported the case for a larger allocation given passenger demand, he said. He added that a separate review pointed to increased economic activity as a major factor, citing expanding urban, commercial, government and tourism centers that are generating demand for safe, reliable, accessible and technology-enabled transport services for residents and visitors. “We in the LTFRB are sensitive to the request and demand from the people and the opening of the slots is also in support of the government’s aggressive economic push across the country,” Pua said. Applications for the new slots will open once the memorandum circulars covering the decision are published in a newspaper of general circulation.

PAS, gyms, healthy food, hospitals, medical tourism and wellness resorts are no longer niche businesses. Together, they form a $47.3-billion wellness economy in the Philippines, equivalent to 10.2 percent of the country’s GDP. The industry has grown 30 percent since 2019, prompting government and business leaders to push for greater Asean cooperation in health, wellness, tourism and related industries. The figures were cited during the recent Health and Wellness Conference and Expo (WONFEC) 2026 Asean Wellness Summit in Pasay City, which brought together government officials, business leaders and industry stakeholders from across Southeast Asia. With the theme “One Wellness Journey: Collaboration, Convergence, and Action,” the summit focused on strengthening cooperation in health and wellness, medical and wellness tourism, technology and other industries that make up the region’s expanding wellness economy. Department of Foreign Affairs Undersecretary Leo Herrera-Lin said the Philippines is strengthening its position in the global health and wellness sector, particularly as a destination for wellness and medical travel. “The Philippines, in particular, is rising as a global powerhouse for health and wellness travel,” Herrera-Lin said. He said regional initiatives such as the Asean 2045 Vision, along with the responsible adoption of emerging technologies, could help improve health-care delivery and strengthen health systems across Southeast Asia. “We embrace the transformative and ethical use of artificial intelligence in enhancing our health systems, from diagnostics and surgical care to patient monitoring and rehabilitation and therapeutics,” Herrera-Lin said.

Philippine Chamber of Commerce and Industry (PCCI) President Perry Ferrer urged Asean’s 11 member states, home to more than 619 million people, to move beyond competition and develop a common regional wellness identity. Rather than compete for the same patients, tourists and investments, Ferrer said Asean economies should work together to position the region as a unified wellness destination. He called for deeper regional integration through measures such as mutual recognition of healthcare credentials, common healthdata standards and the creation of a cross-border wellness corridor. “History will not remember this summit for its eloquence, but for its outcomes,” Ferrer said, underscoring the need to turn discussions into concrete commitments. He said the boundaries between industries are increasingly disappearing, with health care, hospitality, nutrition, technology and public policy becoming more closely interconnected. Secretary Rex Gatchalian of the Department of Social Welfare and Development (DSWD), meanwhile, emphasized the need to ensure that the growth of the wellness economy benefits a broader segment of society. Citing projections that the global wellness market could reach $9.8 trillion by 2029, Gatchalian said Philippine medical tourism is projected to grow from $1.2 billion in 2024 to $5 billion by 2034. He cautioned, however, against viewing wellness solely as a commercial opportunity, saying it encompasses a broader ecosystem involving health care, food systems, employment, communities and technology. “When we talk about wellness, we often think about the individual. But a person’s wellness is never created by the individual alone,” Gatchalian said. He also pointed to global demographic changes, including United Nations projections that one in six See “Asean,” A2

A10 Monday, September 7, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

When the wind brings more than weather: The haze crisis and our regional reality

HE haze currently blanketing wide swaths of the country tells a story that transcends national borders. Originating from forest fires in Kalimantan, Indonesia, this atmospheric intruder serves as a serious reminder that environmental degradation respects no sovereignty, and that the cost of ecological mismanagement elsewhere becomes a public health bill we are forced to pay. (Read the BusinessMirror story, “Haze also affects Central Luzon, Calabarzon, 2 regions,” September 2, 2026).

The Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) deserves acknowledgment for its transparency in monitoring and reporting air quality indices across affected regions. The data tells a tale of two realities: while areas outside the NCR show marked improvement, pockets of Metro Manila remain in the “unhealthy for sensitive groups” category. The southwestern winds that brought this particulate matter to our shores are the same atmospheric currents that have connected Southeast Asian nations for millennia. Yet in the modern era, they carry not just monsoon moisture but the byproducts of unsustainable land management practices. The timing is cruel. As we emerge from pandemic-era restrictions and economic recovery takes hold, respiratory illness is back—driven not by viruses, but by particulates. DENR-EMB’s guidance to protect vulnerable groups with masks and reduced outdoor exposure mirrors Covid-era advice. Yet there is a silver lining in the monsoon rains that have begun filtering the air in some areas. Nature, it seems, offers its own remedy even as human activity creates the problem. The vertical mixing of pollutants due to warmer morning temperatures provides temporary relief, but it is exactly that—temporary. The underlying issue persists across the waters in Indonesian Borneo, where land-clearing fires continue to burn. This crisis exposes the limitations of unilateral environmental policy. The Philippines can maintain the most sophisticated air quality monitoring network in Southeast Asia—and the DENR-EMB’s nationwide system is genuinely commendable—but we remain at the mercy of our neighbors’ fire management practices. The ASEAN Agreement on Transboundary Haze Pollution, signed on June 10, 2002 and ratified by all member states including Indonesia in 2015, was supposed to prevent exactly this scenario. Yet here we are again, choking on smoke from fires that should never have been allowed to reach this scale. The public deserves more than advisories and Air Quality Index (AQI) readings. They deserve accountability from regional partners and a diplomatic push for enforcement of existing agreements. Indonesia must be pressed to accelerate its peatland restoration efforts and strengthen fire prevention measures. The economic cost of these fires—calculated not just in Indonesian palm oil revenue but in Philippine healthcare expenditures, lost productivity, and degraded quality of life—demands a reckoning. The uneven air quality across Metro Manila raises questions about urban planning and pollution source management. Why do some cities register dramatic improvements while neighbors continue to suffer? The concentration of high AQI readings in specific areas suggests that transboundary haze is layering atop existing local pollution sources, creating compounding effects that hit some communities harder than others. This warrants an investigation. As the DENR-EMB continues its monitoring and the public navigates this hazy reality, we must recognize this episode for what it is: a warning shot. Climate change is extending fire seasons and intensifying drought conditions across Southeast Asia. Without concerted regional action, these transboundary haze events will become more frequent, more severe, and more damaging. The wind will shift again. The rains will come and wash the air clean. But the memory of this haze should linger longer than the particulate matter itself, serving as a call to regional solidarity in an era of shared environmental destiny.

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RISING SUN

VERY time a Filipino cracks open a bottle of Coke Mismo for about P18, only a fraction of that (the P6-per-liter excise tax set in 2018) has anything to do with public health policy. And that small amount hasn’t grown since. The retail price has climbed with inflation, but the tax itself hasn’t moved an inch. That’s the whole problem with the Sweetened Beverage Tax (SB Tax) and why two bills now pending in Congress, House Bill 5003 and House Bill 5969, deserve our attention. The TRAIN Law’s 2018 tax was groundbreaking: the Philippines became one of Asia’s first countries to tax sugary drinks nationally, at P6 per liter for most sweetened beverages and P12 for those using high-fructose corn syrup (HFCS), a roughly 14 percent price bump the WHO praised as a tool against obesity and diabetes rates already killing four in 10 Filipinos. Seven years later, that P6 is worth far less. Left flat, with no inflation indexing, its real burden and its power to change habits have quietly shrunk every year Congress fails to act. The passed version was watered down from what advocates proposed,

and exemptions for sweetened 3-in-1 coffee, flavored milk, and powdered drinks mean that much of the sugar Filipinos drink was never taxed. The Philippines doesn’t have to guess whether raising this tax works; dozens of countries have run the experiment. Mexico’s 2014 tax, a modest 10 percent increase, produced a 6% first-year drop in taxed purchases, climbing to 12 percent by year’s end, with the steepest cuts and biggest health gains among the poorest Mexicans, countering the fear that such taxes punish those who can least afford them. The UK took a smarter route: a tiered levy charging the highest rate

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above 8 grams of sugar per 100ml, a lower rate between 5-8 grams, and nothing below that, designed to make low-sugar the profitable choice. It worked: sugar content in taxed drinks fell roughly 46 percent from 2018 to 2024, versus just 3.5 percent from Britain’s voluntary, tax-free industry pledge. Thailand built a similar tiered tax, and modeling shows such designs outperform flat taxes at equivalent price increases, since they reward shrinking sugar content, not just higher prices. The lesson: behavior changes when real money is on the line; yet budgets don’t collapse, since the peso amount per bottle stays small even as the percentage increase matters. Aside from that, these are harmful and non-essential products that Filipinos can do without because there are healthier alternatives. We don’t really need to buy soda, do we? Global health economists have converged on a standard: WHO guidance holds that raising retail prices of sugary drinks by at least 20 percent is the threshold where consumption meaningfully declines. It’s enough to bend behavior, but not so much that it becomes punitive. That’s the benchmark HB 5003 cites in raising the tax from P6 to P20 per liter (P12 to P40 for HFCS drinks), with

Upstream thinking: The policy question behind Pampanga’s floods

Lourdes M. Fernandez

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Inflation ate the sugar tax

WO years ago, during a break in my radio-TV program, I spoke with former Public Works Secretary Rogelio “Babes” Singson. I didn’t attach much importance to that conversation then, but I do now. Singson told me President Ferdinand Marcos Jr. was looking at the possibility of creating a department devoted to water. He was being considered to head it, he said, but had declined.

The conversation returned to me this week for an unexpected reason. Scrolling through Facebook, I came across an old video of a 2023 meeting between President Marcos and Pampanga officials following another episode of severe flooding. Singson was there. And so was an argument that sounds remarkably contemporary three years later. Singson had revived a proposal developed during his tenure at the Department of Public Works and Highways: take roughly 200 hectares of the 2,000-hectare Candaba Swamp and examine whether it could become an impounding area for excess water. There was fierce resistance. Pam-

panga Rep. Anna York Bondoc warned about the livelihood of farmers and at one point threatened to walk out. Marcos listened and asked the question that matters in public policy: if not this, what do you propose? Dredging was offered as one answer. The President’s response was instructive. Dredging might have to be done, he acknowledged, but it’s expensive and temporary. After several months, sediment returns and government dredges again. Three years later, Pampanga was flooded again. And perhaps that old exchange contains the beginning of a different way of thinking about flood

control. Instead of asking first what structure should we build, perhaps the government should ask: Where does the water come from, where should it go, where can some of it safely wait, and what prevents it from getting there? That question takes us upstream. In Baras, Rizal, the National Bureau of Investigation arrested two individuals last April following surveillance of an alleged illegal quarrying operation in Barangay San Salvador. The NBI said mining authorities certified that no permits for mineral extraction in the municipality had been issued. Now, it would be scientifically irresponsible to say that illegal quarrying in Baras caused the flooding now occurring in Pampanga. They belong to different river systems. But Baras raises a question that belongs inside every modern flood-control study: What is happening to the land where rainfall first meets the ground? Forests, vegetation, soil, slopes and geology influence how quickly water moves through a watershed. Disturb those conditions and the hydrological equation can change. Now travel downstream to Pampanga. That provides a reason for the government to go upstream, possibly in Baras, Rizal to see how quickly water enters the system. And that perhaps raises the

automatic indexing going forward. HB 5969, filed separately by Bataan Rep. Tony Roman, pushes further: to P40 per liter with 6 percent annual indexation, earmarked for PhilHealth’s new diagnosis-based payment system. The real debate, then, is no longer whether to raise the tax, but how high, and how to spend it. The sweet spot isn’t maximizing pesos per bottle; it’s crossing the threshold where a shopper reaches for water instead. The stakes are concrete: the DOF estimates a redesigned levy could raise P54 billion in year one and nearly P298 billion over four years, while sugar-linked disease costs billions annually, atop health spending among the highest in Southeast Asia. Business groups warn a higher levy would hurt small enterprises reliant on beverage sales, which is a fair concern deserving real answers through phased implementation, not dismissal. But keeping the tax the same is a mistake. Every year, it makes sugar a little cheaper in real terms, while hospitals and future patients lose out on the health benefits a higher price could have brought. Only a tax set high enough, indexed to inflation, and designed to reward reformulation works. The only question left is whether lawmakers will pass it now, or let inflation decide for them.

possibility of President Marcos paying a visit to what had been tagged by the NBI as an illegal quarrying operation. That explains how water from the watershed travels and how fast because of uncontrolled quarrying. President Marcos has now directed the government to return to flood-control studies that have accumulated over decades. Malacañang says DPWH is updating master plans and feasibility studies for the country’s major river basins, with 16 already updated and the Cagayan and Pasig-Marikina-Laguna de Bay plans targeted for completion this year. That review should not become another exercise in producing studies. It should begin by asking what happened to the studies already produced. What was recommended? What was built? What was abandoned? What changed? What assumptions about rainfall are no longer valid? And what did we learn when the water finally tested what the government had constructed? The old Candaba proposal deserves examination under that discipline— not automatic approval. Map the basin. Model the water. Protect the watershed. Identify where excess water can safely wait. Keep rivers and drainage paths capable of carrying what must move. Perhaps Singson’s idea of putting

See “Gagni,” A11

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I am Acct: Giving accountants their professional identity Joel L. Tan-Torres

DEBIT CREDIT Conclusion

PROFESSIONAL title creates both a privilege and a burden. The privilege is public recognition. The burden is that the titleholder must continuously live according to the standards of the profession. An accountant cannot invoke the professional title when it is advantageous and disregard professional obligations when confronted with an ethical dilemma.

The “Acct.” title should convey this declaration: I am accountable for my work. I am committed to competence. I uphold integrity. I protect the public interest. I am an accountant. This was why the “I Am Accountant” advocacy formed part of the Board of Accountancy’s broader governance, integrity and ethics initiatives during my term as BOA Chairman. These included the Performance Governance System, the Integrity Initiative, the evolving Code of Ethics, Responding to NonCompliance with Laws and Regulations, oversight of professional organizations, action against erring CPAs and our call for “Accountability NOW.” The use of the title must be supported by legislation and clear implementing rules. It should be reserved for persons whose qualifications are officially recognized under the Accountancy Law. At present, the country’s statutory professional designation is Certified Public Accountant. The designation “Acct.” should therefore initially apply to registered and licensed CPAs in good standing. If Congress eventually creates additional legally recognized categories— such as Certified Accountants or Certified Professional Accountants—the law should clearly define who may use “Acct.,” CA, CPA or other corresponding titles. The title should not be available merely to anyone performing bookkeeping, clerical or accounting-related work. Neither should graduation from an accountancy program alone automatically confer the right to use a regulated professional title. The right must arise from compliance with the educational, examination, registration and ethical requirements prescribed by law. Unauthorized use should be prohibited and subject to appropriate penalties, just as the improper use of titles in other regulated profession. Once recognized by law and implemented by the Professional Regulation Commission and the Board of Accountancy, “Acct.” may be required in appropriate professional settings, including: n Professional correspondence, calling cards and official electronic signatures; n Accounting, financial and regulatory reports prepared or certified by the accountant; n Government forms and official transactions involving professional capacity; n Academic publications and professional presentations; n Professional directories and organizational memberships; n Employment records for positions requiring an accountant or CPA; and n Digital professional profiles, subject to verification of the person’s current registration. The title should be accompanied by the CPA designation and, where legally required, the professional registration,

Gagni. . .

Continued from A10

water under one institutional roof deserves another look as well. The Philippines currently divides responsibility for water among agencies concerned with public works, irrigation, environment, drinking water, dams, local government and disaster response. Yet the same raindrop can pass through the jurisdiction of several of them before reaching Manila Bay. Maybe the deeper question is not whether the

license and professional tax receipt details. However, the requirement should be reasonable. It need not be imposed in purely private or social situations. Its mandatory use should focus on circumstances in which the individual is acting, signing or making representations in a professional engagement. The proposal has acquired greater importance as artificial intelligence (AI) and automation transform accounting work. AI can record transactions, reconcile accounts, detect anomalies and generate financial analyses. But technology cannot assume legal and ethical accountability. There must still be an identifiable professional who exercises judgment, evaluates the reliability of information and takes responsibility for the resulting work. The title “Acct.” identifies that responsible person. As accounting becomes more digital, the public must be able to distinguish between an automated output, an unregulated service provider and the professional work of a duly registered accountant. The professional title, supported by a verifiable PRC registration, can become an important seal of accountability in the digital economy. It is time for Congress, the Professional Regulation Commission, the Board of Accountancy, the Philippine Institute of Certified Public Accountants, accountancy schools and other professional organizations to revisit this proposal. The amendment of the Accountancy Law should expressly recognize “Accountant” and “Acct.” as protected professional titles. It should identify the persons entitled to use them, prescribe their use in professional transactions, provide a system for public verification and penalize unauthorized representation. The initiative can be reinforced by reviving the “I Am Accountant” campaign. New CPAs can be introduced to the title during their oath-taking. Schools can explain its significance to accountancy students. Employers can incorporate it into ethics and professional development programs. After all, accountants perform work that is indispensable to business, government and society. They deserve a professional identity that is recognizable to the public. But more importantly, the public deserves to know who is professionally qualified and accountable for accounting work. Doctors proudly use Dr. Lawyers use Atty. Engineers use Engr. Architects use Ar. or Arch. It is time for accountants to be similarly recognized. I look forward to the day when every qualified member of our profession can confidently introduce himself or herself: “I am Acct. Joel L. Tan-Torres, CPA. I am competent. I am accountable. I am an accountant.” country needs another department. It is whether somebody in government must finally be responsible for the entire journey of water. Baras reminds us to look at where that journey begins. Candaba reminds us that sometimes water needs somewhere to wait. Macabebe reminds us that eventually water needs somewhere to go. And the floods now confronting the country may be telling us something that decades of individual projects have obscured: Flood control should not begin with concrete.

A passport to protection Siegfred Bueno Mison, Esq.

THE PATRIOT

Part one

OBODY ought to dispute that the right to travel is a fundamental liberty. Yet this constitutional right was never designed to become an escape route for people who suddenly find themselves under investigation. I admire how sitting legislators Estrada and Marcoleta opted to face arrest and eventual imprisonment despite having opportunities to run and hide. When the names of powerful people begin appearing in investigations and government investigators start asking uncomfortable questions, some individuals suddenly discover urgent reasons to leave the country: medical treatment, business or family matters, even political persecution. Former PNP Chief Panfilo Lacson evaded arrest years ago, as did former PNP Chief and sitting Senator Ronaldo “Bato” dela Rosa a few months ago. A few days ago, sitting legislators Loren Legarda and Leandro Leviste followed suit, reportedly anticipating their arrest for a non-bailable crime. So when powerful people leave precisely when accountability begins knocking at the door, the public has every right to ask: Is this really an exercise of a constitutional right or is it an exercise in escaping responsibility? Departure from the country, by itself, does not establish criminal liability. After all, we have due process and the constitutional presumption of innocence. But the people also have something that no statute can take away—common sense. And common sense tells us that when people being investigated suddenly become unavailable to investigators, something is seriously wrong with the system. By law, government agencies generally have to wait for a court order before they can prevent a person from leaving the country. The more disturbing question, therefore, is not simply why people leave. It is why government appears to allow them to leave so easily. Last year, when President Marcos Jr. himself exposed supposedly anomalous, questionable, or even ghost projects involving enor-

mous amounts of public money, there was a glimmer of hope that corrupt public officials would finally be held accountable. Senate hearings and NBI investigations followed. Names of several powerful people, mostly congressmen, surfaced. Yet some could still evade arrest by simply leaving the country unless a court order can be timely issued to stop them, as in the case of former Speaker Martin Romualdez. I doubt whether there are non-judicial restrictions on the right to travel of other individuals whose names were mentioned or who were implicated in the flood-control anomaly hearings but had neither been charged nor arrested. If reports are accurate, government agencies somehow took precious time before placing certain personalities under closer watch. And, even freeze their assets in the process as a precautionary measure. I am bewildered. What exactly were officials waiting for, a confession or a boarding pass? Unfortunately, this is where our bureaucracy becomes almost utterly comical, if not absurd. Corrupt people can flee the country with money that belongs to the Filipino people. Government proudly announces that it is “doing something” and that an investigation is ongoing, almost as if it were giving suspects ample time to exercise their constitutional right to travel. Immigration officers tighten the borders only after some of these powerful individuals have already crossed them. Doing something very late is sometimes indistinguishable from doing nothing. For decades, our justice system has developed a reputation for moving quickly against the powerless and very cautiously against the powerful. An ordinary Filipino can be arrested and immediately feel the full weight of the State. But when the

Monday, September 7, 2026 A11

accused happens to possess money, influence, connections, lawyers, or political allies, the wheels of justice suddenly seem to require lubrication. Cases take years, as in the sequestration cases involving the father of the incumbent president. Hearings become television performances, as in the ongoing impeachment proceedings against Vice President Sara Duterte. Prosecution spokespersons issue statements while defense lawyers issue counter-statements, much to the chagrin of a tired public. And somewhere in the middle of all this chaotic noise, public money disappears through the ultimate political maneuver: Leave the country while transferring wealth to dummies. The constitutional right to travel has consequently become the centerpiece of the debate. As a lawyer, I fully understand what the Constitution provides whenever human rights and due process are invoked. But as a former law enforcer, I am dumbfounded by the most basic question of all: What about the ordinary Filipino’s quest for justice? Rights cannot become weapons reserved for the powerful. Government officials who cannot prevent potentially accountable persons such as Co, Legarda, and Leviste from leaving before an investigation is completed must at least explain why they failed to act responsibly and promptly. Otherwise, the public is entitled to suspect that the system is not merely inefficient. It may be selective. Back in my earlier days in the Bureau of Immigration, the Department of Justice had a tool called a Watchlist Order (WLO), which practically had the same effect as a Hold Departure Order (HDO), until the WLO rules were eventually declared unconstitutional. The lesson from that experience should be clear. The right to travel can be abused when politics enters the picture. And in the Philippines, corruption investigations rarely remain purely legal. They become political almost immediately. I go back to the PDAF investigations, where the big fish managed to evade accountability for many reasons, the principal one being political. Every investigation has a faction and an ally. Every administration eventually discovers that today’s political enemies can become tomorrow’s fugitives or tomorrow’s allies. That is why many Filipinos have become increasingly cynical about every new “fight against corruption.”

A dollar engine we never built By Henry Go

HE headline panic over the Philippine peso passing 61, touching 62, and trending toward 63 against the US dollar typically triggers a familiar story. Standard commentary habitually points outward—citing high interest rates set by the US Federal Reserve, global oil market spikes, and geopolitical conflict in the Middle East.

While global dollar strength affects emerging markets across the board, chalking the currency drop up to external turmoil overlooks an uncomfortable reality: the domestic economy is operating on a fragile foundation. The peso’s slide isn’t merely a byproduct of international market shifts; it reflects deep-seated structural dynamics within the local economy. In the Philippines, domestic capital tends to go where the returns are more familiar and predictable. That is why so much of it goes into malls, property, retail, tollways and other businesses serving the local market. Export manufacturing is a tougher proposition. Power and logistics are expensive, connectivity is still a problem, skilled workers are leaving, and Philippine companies have to compete for FDI with countries that have spent decades building their industrial base. So, it is understandable why many large Filipino companies hesitate to put big investments into factories, supply chains, technology development, and industries that can compete globally. The irony is that electronics already make up more than half of our

exports, yet much of the industry operating inside our economic zones is still tied to foreign multinational companies and global supply chains. At the same time, many of the engineers, technicians and other skilled Filipinos needed to build these industries are working abroad. We export the products and we export the people, because we still own too little of the industries that put the two together. There is another side to this. Much of the business of our large local conglomerates is still tied to the domestic consumer. They generate strong revenues in pesos, but that does not necessarily bring in the dollars the country needs to pay for imported fuel, machinery, components and other goods. So, while the domestic economy keeps generating pesos, a significant part of the dollar earnings that support the economy comes from OFW remittances and the BPO industry. This capital structure creates a core problem when the exchange rate changes: the economy cannot quickly stop buying foreign goods when import prices go up. Usually when a currency weakens,

the price of imported goods rises. In theory this should cause people and businesses to buy locally made items. This shift can help reduce the trade deficit. The trade deficit may shrink when the currency weakens. But that only works if the country has something to buy locally. The Philippines has not invested enough in agriculture for decades, and we still depend to some extent on imports for basic needs such as rice, meat and fertilizer. Then, when the peso falls, we cannot simply switch to cheaper local alternatives. We still have to buy from abroad, only now we pay more pesos for the same goods. The same problem applies to energy. We import much of the oil and fuel needed to keep transport, factories and businesses running. A weaker peso therefore does more than make imports expensive. It makes the country spend even more of its scarce foreign exchange just to keep the economy moving. When the exchange rate moves toward 63, demand for these essentials cannot drop significantly. The country spends more local currency simply to acquire the same volume of basic necessities, turning currency weakness directly into higher domestic living costs rather than an improved trade balance. At the same time, the mechanics of foreign exchange entry have evolved. Historically, dollar earnings from overseas workers or BPO services moved through standard banking channels and were immediately converted into local currency, offering

We have watched administrations promise to fight corruption, only to discover that corruption becomes unacceptable when committed by political opponents and strangely tolerable when committed by political friends. What we have is a selective-accountability problem. Whether under Arroyo, Aquino, Duterte, or Marcos Jr., administrations have perfected the art of weaponizing investigations while simultaneously protecting their own. An educated public ought to notice when government suddenly becomes aggressive against one group and strangely timid toward another, something is amiss. When one suspect is dragged before the cameras while another quietly leaves the country or when one is prosecuted while another is given immunity, there is something unholy cooking. When an administration promises “no sacred cows” but somehow keeps finding exceptions, there is definitely abuse. Over time, hopefully not too long, Filipinos may finally understand that although the law can encompass every offense, political connections can sometimes make accountability disappear. That is a dangerous lesson for a democracy. As Ombudsman Jesus Remulla has pointed out, our justice systems can be faulty. And when an accused person no longer feels safe in the hands of law enforcement, as Vice President Sara Duterte herself has recently declared, society can eventually stop trusting its institutions. When trust collapses, mob justice becomes tempting. Military intervention can become enticing. Violent changes in government begin to look attractive to people who have lost faith in the institutions meant to protect them. But the answer to a weak justice system is not vigilantism or violent regime change. The answer is a stronger justice system. To be continued Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. His corporate experiences include stints as general counsel for the country’s flag carrier, a food exporter with manufacturing plants in Davao and in Laguna, and a sports distributor company. Siegfred is a former soldier and a lawyer by profession, a teacher and inspirational speaker by passion, and a book author and a writer with a mission.

steady liquidity to the spot market. Today, a growing segment of tech contractors, remote freelancers, and digital service workers receive compensation in foreign currency via digital financial platforms and multi-currency accounts. Rather than converting these earnings into pesos right away, many retain their funds in foreign currency, converting only as needed for local expenses. As a result, even when foreign earnings grow, the velocity at which those dollars flow into local banking channels slows, leaving domestic spot markets more sensitive to supply pinches. Meanwhile, OFWs’ remittance inflows act as a double-edged sword. While they provide essential household support and sustain domestic retail trade, they also offer policymakers a buffer. Because billions in foreign currency enter the economy annually to support private spending, structural reforms in key areas—such as agricultural supply chains, energy costs, and industrial capability—are frequently delayed. Deploying central bank foreign reserves to support the peso at 61 or 62 offers temporary relief from volatility, but it does not fix the underlying structural trade imbalance. Without policy incentives that redirect domestic capital into exportgenerating production and farm productivity, the currency remains exposed to external shocks. Under these structural conditions, a move toward 63 represents a predictable outcome of the economy’s current framework.

Sports BusinessMirror

A12 Monday, September 7, 2026

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

EALA EXITS U.S. OPEN, DROPS TO 0-3 VS. JOVIC finishing it off and falling to the court. Jovic has made another deep run at a Grand Slam after reaching the fourth round at Wimbledon and the French Open and making the quarterfinals at the Australian Open. She lost to Jessica Pegula in London, Naomi Osaka in Paris and Aryna Sabalenka in Melbourne. In the final game, on Jovic’s second match point, Eala hit a forehand into the net and the 18-year-old American fell to the ground in relief and exhaustion. When she got up, Eala was already on her side of the court for the congratulatory post-match hug. After the match, the world No. 14 looked at the stat sheet to confirm that what she had just experienced wasn’t a figment of her imagination. “I couldn’t believe what just happened,” said Jovic, who before this week had never been past the second round in New York. “We were both in the positive with the winners versus unforced errors, so it was just really, really high level.” “That gives me a lot of confidence, to be able to beat someone who is playing arguably top five tennis right now, with the summer that she’s had,” Jovic said. “I think if I can replicate that, it’s going to be good.” Jovic praised Eala not only for her remarkable performance on court, but also the grace, warmth and maturity she showed in defeat. “It says a lot about her as a person,” Jovic said. “I’m going to start crying, but it says a lot about her as a person, to be able to do that after that type of

Korea leaves Gilas searching for answers

IM CONE admitted the coaching staff is still trying to find the right combinations and accepted responsibility for Gilas Pilipinas’ two blowout losses in tuneup games in Korea. Still, Cone remains confident Gilas Pilipinas will be ready for its opening game against Bahrain on Friday at the Aichi International Arena in Nagoya, Japan. “We have not figured out how to best use the skills of our guys yet. But me and our staff will be better, and we will be better in helping our players prepare for what is ahead. No need to panic. We will be more ready,” Cone said after a 42-69 loss to the Koreans at the KT Sonicboom Arena in Suwon, South Korea. They dropped their first tuneup, 55-81. Zav Lucero came up with 14 points and six rebounds, with no other player among the 11-man team scoring in double figures. “South Korea was a tough team, the same team that has played the four FIBA windows. We could not approach their level of execution and knowledge of each other,” Cone told the BusinessMirror on Sunday. “These losses were not on the players, and it was on us as a coaching staff.” The team leaves Suwan for Nagoya continue their preparations for their title-defense. The Philippines takes on Kazakhstan on Saturday and closes out the preliminary round against China on September 14. Cone said the tough tuneup week gave the Philippines a gauge of where it stands, while tipping Korea as a title contender. South Korea shot better from three-point range, beating the Filipinos, 9-5, in the first game and 10-3 in the second. The home team also had more assists, 23-12, and 23-13. “It could be the favorite for the gold, yes,” he said. The Philippine team is awaiting an update from Justin Brownlee, who is recovering from a leg injury, and whether he has been cleared to play. Josef T. Ramos

IVA JOVIC (left) praises Alex Eala not only for her remarkable performance on court, but also the grace, warmth and maturity the Filipina tennis sensation shows in defeat. AP

EW YORK—Iva Jovic needed more than three hours to end Alex Eala’s run at the US Open and Coco Gauff is up next for her with a spot in the quarterfinals at stake. Jovic beat Eala, 7-5, 3-6, 7-5, in a three-hour, three-set, back-and-forth showcase of two of tennis’ emerging

young stars inside Arthur Ashe Stadium on Saturday night. “That felt like a marathon, and I felt like I lost my sanity five times over to win that match,” Jovic said. “But it’s really worth it for this feeling. I’m usually not one that shows that many emotions, but this one really meant a lot to me. It’s everything to have

another match here at the US Open.” The 18-year-old American acknowledged the crowd not always being on her side against Eala, a fan favorite from the Philippines, whose fervent following has become one of the biggest storylines in the sport. But she rallied from down 4-2 in the third set and got a hearty ovation after

Eyes on Asiad-bound Corpus as PGT goes to Summit Point

NAS expands with new facilities, dormitory By Bless Aubrey Ogerio

HE National Academy of Sports (NAS) has added three completed facilities to its campus in New Clark City with a new dormitory now set to become the next major addition as the academy expands its capacity for student-athletes. The Sports Performance Building, Gymnastics Hall and Staff Residences were formally turned over to NAS by the Bases Conversion and Development Authority (BCDA), completing another phase of the governmentrun sports high school’s campus development. The Sports Performance Building will house conditioning, sports science and performancedevelopment activities, while the Gymnastics Hall will provide a dedicated venue for specialized training. The Staff Residences will accommodate personnel who train and support the student-athletes. The turnover was accompanied by the groundbreaking for a 12,490-square-meter StudentAthletes’ Dormitory which will have 100 units and

accommodate up to 400 students. The dormitory will include a dining hall and kitchen, laundry and utility areas, recreational spaces, a roof deck, pocket gyms, garden strips, restrooms, EXECUTIVE Director Associate Professor Francis Carlos Diaz praises the a prayer room, development at the academy. PSC PHOTO multipurpose halls and a room for student consultations. Designed as a tropical-brutalist building, the dormitory is targeted to be operational by 2027 and its location within the NAS campus is expected to make it easier for students to move between their living and academic spaces.

That familiar fire WHILE watching the recent Pinoyliga Cup, I felt two things I had not felt in some three years. I haven’t watched any collegiate sports in about three years. First, there was a knot in my gut from anxiety and wondering if my team could come away with a win. I vacillated between, “I can’t do this anymore” to “this is that familiar fire.” But I came away with a “wow, that was great” even after my team was eliminated. I have not cheered for my alma mater or even the national team for 16 years now. The last time I cheered was when Ateneo surprised everyone by winning the 2010 UAAP championship when FEU was seeded to win it all. And that same year when the Philippines defeated Vietnam on their home soil during the Suzuki Cup, from high up in the press box in the My Dinh National Stadium, I just yelled, “yeah,” pumped my fist, and gave a high five to a Filipino colleague. Then when I ran down to the pitch, I went bananas and that can be seen in the video that I took. The funny thing about it is that a friend of

mine who is also in the media (and is more senior than I am) reminded me not to cheer since I am there as a journalist. And I have kept that to heart come 2011 up to this day. The ironic thing is she is the one wearing the colors and cheering for her alma mater. Hahahaha. I remember during the 2013 Fiba Asia Championships after the Philippines defeated Korea to advance to the Fiba World Championships, everyone around me was going nuts. A colleague of mine, Aldo Avinante, was seated next to me, and he openly admired my restraint. So, I recounted what my other colleague said to me during a UAAP match. Furthermore, being media officer for nine years for the Samahang Basketbol ng Pilipinas, it didn’t look good for me to

57th WNCAA on The 57th Women’s National

Collegiate Athletic Association (WNCAA) got going at the Makati Coliseum Saturday with University of Makati making its debut as host of the now 18-team league—De La Salle-College of Saint Benilde Antipolo and University of the East Ramon Magsaysay are the newest members. Shown during last week’s press launch at the U-Mak are (from left) Samahang Basketbol ng Pilipinas Executive Director EriKa Dy, University of Makati president Elyxur Ramos and WNCAA chair Marian Vivian Manila. NONIE REYES

be partial to the Philippines. And the other foreign media officers were also like that. Even if I have generally left sports coverage, I still remain like that—seated, quiet, observing, and taking down a lot of mental notes. It has become easier over time. I figure if I go there as a fan, then I might just cheer. But if I am writing about it, no. As a former student-athlete and huge fan of sports, I had trouble taking in a loss. I couldn’t sleep and had a tough time letting go of losses. But now, I am over it in a matter of minutes or a few hours. And yes, I sleep much better. I have become an expert at letting go. The second thing that I felt was annoyance at boorish fans. I was annoyed at that person who heckled the coach of one team and that coach called him out to security. There was a time that I heckled and was rather uncouth. Until an incident also made stop. A friend of mine told me that over dinner after one game, his son uttered something unprintable here. Yes, it was a cuss and choice words. When asked where he heard that, he said, “from Tito Ricky.” My friend told me about it and had quite a laugh. Me? I was mollified! I apologized profusely and stopped. I haven’t said anything

match and still come over and hug me and wish me all the best. And even in the locker room, behind closed doors. That just says a lot about her and her character. She’s incredible.” Jovic is now 3-0 head-to-head with Eala—at the Queen’s Club Championships in London on grass (round of 16, 6-2, 6-2) last June and before that at the French Open (round of 128, 6-4, 6-2) in May—the American also won, 6-3, in a US Open Fan Week exhibition match. Now, Jovic and Gauff are among the five US women’s players left, along with Pegula, Taylor Townsend and Emma Navarro. “Obviously, there’s a lot of pressure here as an American trying to do well,” Gauff said after beating Cristina Bucsa, 6-3, 6-4, earlier Saturday. “Everybody wants to win this tournament, but I think for Americans it’s even more special.” Gauff is just 22 but is four victories away from her second US Open title, three years since winning her first. Also the French Open champion last year, she is in her prime at a time when more rivals around her age like Jovic and Eala are coming to the forefront. Gauff facing Jovic on Monday guarantees at least one American among the final eight players. The fourth round is the farthest Jovic’s ever gone at her home Slam. After splitting the first two sets, Eala broke in the first game of the third and consolidated to take the early 2-0 lead. AP and WTA News

CARL CORPUS is also warming up for the Aichi-Nagoya 20th Asian Games where he’ll be competing alongside Miguel Tabuena and Justin delos Santos. PGT PHOTO

untoward during a game since then. And there was a time when I used to bash the fans of another school and someone wrote me a letter saying that people looked up to me, read me, and were heavily influenced by what I said. “Leave the bashing to the younger folk,” he urged. That was like getting punched in the gut—twice, if you add that incident concerning my friend ’s son. During the recent Pinoyliga games, I sat next to the crowd of another school, and they were loud, boisterous, crude, and well, funny at times. Art not time did I want to respond. I just sat that and later on during the halftime break, chatted up the supporters of that school. And it was a great chat if I am being honest about it. I like the restraint and self-control. It has tremendously improved my emotional quotient while allowing me to take in more aspects of the games. But then again, it is also possible because I am getting old. Hahahaha. You know that saying how sports is a great teacher that not only teaches fitness and sportsmanship, but also shapes character and teaches life skills? I can attest to that. I am so looking forward to this upcoming collegiate sports season.

ARL CORPUS will be gunning for more than a second Philippine Golf Tour (PGT) victory—third professional career title—in the ICTSI Summit Point Championship that starts Tuesday at Summit Point Golf and Country Club in Lipa City. The 25-year-old rising star also sees the 72-hole, P2.5-million championship as a crucial tuneup for his national team duty at the Aichi-Nagoya 20th Asian Games later this month. Corpus will help lead the Philippine charge in the Asiad alongside LIV Golf mainstay Miguel Tabuena and Japan Golf Tour campaigner Justin delos Santos. His return to the Asian Games comes three years after a debut in Hangzhou that fell short of his expectations—he and cousin and PGT regular Aidric Chan finished 33rd in the individual competition and helped the Philippines tie for ninth in the team event. Three years later, however, Corpus heads back to the Asiad as a vastly different player—older, battle-tested and armed with a professional resume that continues to grow. Since Hangzhou, he has steadily established himself on both the international and domestic circuits— he broke through on the Asian Development Tour with a victory in the Morocco Rising Stars Marrakech last year before claiming his first PGT championship at Valley Golf in Antipolo at the close of the 2025 local season. Those victories gave Corpus something he did not have during his Asiad debut: proven success at the professional level. But first things first as Corpus is keen to make the most of the PGT’s return after a two-month break with Summit Point providing exactly the kind of competitive test he needs before heading to Japan. Among those set to challenge Corpus for the crown are reigning Order of Merit champion Angelo Que and multi-titled campaigners Keanu Jahns, Tony Lascuña, Reymon Jaraula, Guido van der Valk and Zanieboy Gialon. Young guns Sean Ramos, Jeffren Lumbo and Russell Bautista will also be in the mix, along with Chan and Fil-Am Ivan Yabut.

Editor: Jennifer A. Ng

Companies BusinessMirror

GLOBE TELECOM ENTERPRISE UNIT GREW H1 DATA REVENUE

LOBE Telecom Inc.’s enterprise unit grew its corporate data revenues by 15 percent to a record P11 billion in the first half of 2026, its fastest first-half expansion in the segment since 2023, as Philippine firms poured spending into connectivity and digital systems. According to the company, second-quarter corporate data revenues, likewise, hit a record P5.9 billion, extending the momentum built through the semester. The increase was driven by higher core data revenues, led by domestic internet services, alongside sustained demand for information and communication technology (ICT) offerings, particularly business application solutions. “Businesses are increasingly treating digital transformation as fundamental to how they operate, serve their customers, and prepare for future growth,” Globe Chief Commercial Officer Darius Jose R. Delgado said last Sunday.

“The sustained demand we are seeing reflects the importance enterprises place on reliable connectivity and technology that can help them become more efficient, resilient and competitive.” The telecommunications company (telco) said enterprise requirements have grown more complex, prompting it to build out capabilities spanning connectivity, cloud, cybersecurity, business applications and artificial intelligence (AI)-enabled solutions—a portfolio it said allows corporate clients to address a wider set of technology needs from a single provider. The telco spent P26.3 billion in capital expenditures in the first six months of the year, with roughly 91 percent of the amount channeled to data-related initiatives meant to expand network capacity and improve service quality. The company said the spending underpins the growing data demand from its enterprise base. Lorenz S. Marasigan

Monday, September 7, 2026

SEC OKs GCash operator’s IPO, PHL’s biggest offering

By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of Mynt Inc., the operator of the electronic wallet GCash app, for up to P92.32 billion, which would be the country’s biggest offering to date. Mynt will be the first company to take advantage of the SEC’s lower public float requirements for large issuers. In its en banc meeting, the SEC approved registration statement of Mynt covering the registration of up to 66.9 billion common shares. The clearance of the Mynt’s IPO includes the grant of its request for

a lower minimum initial public float of 12 percent—as opposed to 15 percent—in accordance with SEC Memorandum Circular 11 (series of 2026), or the “Minimum Public Ownership Rules for Issuers of Shares of Stock to be Listed on an Exchange.” Under the ruling, the agency may approve, upon recommendation of the Philippine Stock Exchange, the

lowering of the public float of issuers with exceptionally large expected market capitalization at the time of listing. Mynt’s expected initial market capitalization upon listing is P668.96 billion, according to data submitted to the SEC as part of its registration. This exceeds the P200-billion initial market capitalization threshold under MC 11. The company will offer up to 1.61 billion common shares as part of the primary offer, while up to 6.42 billion shares will be offered and sold by a selling shareholder. The offer also includes an overallotment option of up to 1.2 billion shares. The shares will be sold at an indicative price of up to P10 apiece. Assuming the overallotment option is oversubscribed, the company looks to net up to P89.25 billion from the total offer. Around P14.95-billion worth of

net proceeds is expected from the primary offer, which will be used for digital financial services growth, product development and general corporate purposes. The offer period will run October 6 to October 12, in time for the issuance and listing on the Main Board of the PSE under the ticker “GCASH” on October 20. Mynt has picked BPI Capital Corp. and BDO Capital and Investment Corp. as the domestic lead underwriters and joint bookrunners for the offer. Jefferies Singapore Ltd., CLSA Ltd. and The Hongkong and Shanghai Banking Corp. Ltd.-Singapore Branch will serve as international joint bookrunners. Morgan Stanley and Co. International Plc., J.P. Morgan Securities Plc. and UBS AG-Singapore Branch will serve as joint global coordinators and joint bookrunners.

Tropical Hut taps First Gen for power

‘Incentives for EVs be plugged in thru 2040’ By Bless Aubrey Ogerio @blessogerio

HE electric vehicle (EV) industry is hoping the government will keep fiscal and nonfiscal incentives in place through 2040, arguing that sustained policy support will be needed to keep the country’s shift to electric mobility on track. Electric Vehicle Association of the Philippines (EVAP) Vice President and AC Mobility Holdings Inc. Mobility Infrastructure Head Carla Buencamino said last Friday that the industry welcomed a bill filed by Senate President Sherwin T. Gatchalian seeking to extend existing incentives for electric vehicles and introduce additional benefits for EV users. “We really need to keep these incentives there. Because our targets go as high as the DOE’s (Department of Energy) targets extend until 2040,” Buencamino told reporters at an event in Makati City. Senate Bill 2270 proposes longer incentives and lower import costs for the electric vehicle industry. The measure seeks to extend the validity of fiscal and non-fiscal incentives under Republic Act 11697, or the Electric Vehicle Industry Development Act (Evida), to 12 years from the current eight, while removing import duties on electric vehicles and related equipment and infrastructure. “For the industry, we hope that the incentives will last until 2040 so that people can continue to grow and adapt to electric vehicles,” Buencamino said. The Marcos administration aims for EVs to account for 50 percent of new vehicle sales by 2040. According to Buencamino, support should cover the wider EV ecosystem, not just vehicle ownership, including charging infrastructure and power generation. “So it’s also the charge; it’s not just the cars, right?” she said. “We have the charging stations, we have our power generation, and all of the ecosystem for the EVs.” Continued on B2

By Lenie Lectura @llectura

JOB CUTS

The production line at Tata Motors Ltd.’s Jaguar Land Rover vehicle manufacturing plant in Solihull, UK. Jaguar Land Rover Automotive Plc is set to cut 4,000 jobs over the next two years as the UK’s largest carmaker confronts soaring costs, plummeting sales and the effects of US tariffs, The Times reported. Staff were warned late Friday to expect the announcement of the redundancy program which is due to take place on Monday, according to The Times. PHOTOGRAPHER: CHRIS RATCLIFFE/BLOOMBERG

MWIS efficiency project completed T

HE Manila Water Non-East Zone operating unit Manila Water Infratech Solutions Inc. (MWIS) announced over the weekend that it has completed a comprehensive non-revenue water (NRW) optimization program for the Philippine Economic Zone Authority-Cavite (PEZA-Cavite), supporting the enhancement of water system efficiency, operational reliability, and resource sustainability across its facilities. The program leveraged a combination of advanced network diagnostics, hydraulic engineering, and fieldbased investigations to enhance the performance and efficiency of PEZA’s water distribution system, the company said in a statement. According to the MWIS, it has conducted a comprehensive technical assessment of water production, transmission, and distribution fa-

cilities to establish a detailed understanding of system behavior, flow patterns, pressure conditions, and asset performance. A key component of the initiative was the establishment of two district metered areas (DMAs), providing greater visibility into water movement across the network and enabling more precise monitoring of consumption and system losses. The DMA framework allowed MWIS to isolate service zones, improve water balance analysis, and identify areas requiring operational intervention, according to the company. The MWIS said it has also carried out extensive step-testing and acoustic leak detection activities to systematically identify hidden leaks and inefficiencies within the distribution system. These field investigations were complement-

ed by the replacement of critical gate valves that improved network control, zone isolation capability, and operational flexibility during maintenance and repair activities. Through these targeted NRWreduction measures, the program successfully recovered approximately 1.7 million liters per day (1.7 MLD) of water, significantly improving system efficiency and reducing water losses within a 4-month program implementation. To further strengthen system performance, MWIS developed and calibrated a hydraulic model of the network to simulate flow and pressure conditions under various operating scenarios. The model enabled the optimization of water distribution, identification of operational bottlenecks, and evaluation of infrastructure improvement opportunities. Insights generated

through the hydraulic simulations guided operational adjustments that improved network efficiency while reducing dependence on energy-intensive facilities. Through the integration of data-driven analysis, hydraulic modeling, and targeted field interventions, the program enhanced PEZA’s ability to manage its water distribution system proactively, providing a stronger foundation for long-term operational reliability, resource efficiency, and future infrastructure planning. The PEZA-Cavite, commonly known as Cavite Export Processing Zone (EPZA), is a 275-hectare industrial park located in the municipality of Rosario and the city of General Trias in Cavite which hosts hundreds of export-oriented manufacturing, electronics, logistics, and warehousing companies. Jonathan L. Mayuga

ROPICAL Hut Food Market Inc. (Tropical Hut) has tapped the First Gen Group (First Gen) to power a dozen Tropical Hut branches as well and its head office with 750 kilowatts (kW) of geothermal energy. The power supply contract was signed by Tropical Hut and First Gen officials last September 4. “We’re pleased to partner with First Gen to help us manage our energy costs and help the environment as well by not using electricity from fossil fuels. This will help us keep serving our customers with the burgers and other classic favorites just as we have done for over 60 years,” said Amelita D. Cauilan, Tropical Hut president and general manager. Established in 1965, Tropical Hut started out as a coffee shop serving hamburgers. The company eventually expanded its store’s menu to include spaghetti, fried chicken and other fast-food items. The food chain is owned by the Mercury Group of Cos., which is also the parent company of the Mercury Drug Corp. The geothermal power will be sourced from the Lopez-led firm’s Unified Leyte facilities. “We are privileged to partner with such an iconic Filipino brand and provide them with indigenous geothermal power to support their operations. We look forward to a fruitful collaboration with Tropical Hut,” said First Gen Corp. Chief Customer Engagement Officer Carlos Lorenzo L. Vega. First Gen is a renewable energy producer in the Philippines with 1,700 megawatts of generating capacity from 31 hydro, geothermal, solar and wind facilities located around the country.

Companies BusinessMirror

Monday, September 7, 2026

Gotianun-led lender prices stock rights offer at ₧10.80

By VG Cabuag

@villygc

HE Gotianun-led East West Banking Corp. has priced its stock rights offering at P10.80 to P11.05 per share, with a par value of P10 apiece. Under the proposed transaction, eligible shareholders as of the record date of November 19, will be entitled to subscribe to one rights share for every 2.70 to 2.76 common shares held. The principal shareholders, directly or through wholly owned subsidiaries of Filinvest Development Corp. acting as standby purchasers,

have undertaken to subscribe to any institutional offer shares that remain unsubscribed, subject to applicable regulatory requirements. This commitment underscores the shareholders’ strong confidence in EastWest’s growth strategy and long-term prospects, according to the bank. EastWest’s major shareholders were FDC and and FDC Ventures Inc.

The bank is set to raise some P9 billion from its stock rights offering to be listed at the Philippine Stock Exchange. As of June, the country’s eleventhlargest lender had total assets of P623.9 billion and one of the largest consumer loan portfolios in the Philippine banking industry, amounting to P337.6 billion. Key terms of the transaction, including the final offer size, entitlement ratio, offer price, record date and timetable, will be determined and announced upon receipt of the necessary approvals, the bank said. “This proposed rights offering positions EastWest for its next phase of growth while giving our existing shareholders the opportunity to participate in the bank’s long-term value creation. The additional capital will

support continued expansion across our core businesses and enhance our ability to pursue strategic opportunities in a fast-evolving financial landscape, while strengthening our balance sheet, “ Jerry G. Ngo, the bank’s CEO, said. Proceeds from the offering will be used to support the bank’s strategic growth objectives and future expansion plans, including scaling up its wealth and priority banking propositions, investing in transformative digital technologies, as well as funding loan growth across key retail and business segments. The proceeds may also be used for the bank’s general corporate purposes and financing requirements. AB Capital and Investment Corp. was tapped as the deal’s issue manager and sole underwriter.

Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the economic outlook remains challenged while the main index chart remains bearish. According to Tantiangco, the resumption of the US and Iran war has sent the benchmark Brent crude above $90 per barrel. “Local fuel prices are already expected to post hefty increases next week,” he added. Tantiangco said rising global oil prices, peso depreciation and agricultural supply threats brought by El Nino “pose upside risks to commodity prices, which in turn may cause inflation to reverse its trend.” The latter, in turn, “would pose downside risks to our economic growth in the second half,” he added. Broker 2TradeAsia said the spotlight is on the mining sector likely to ride on China’s well-documented, ‘Golden September, Silver October’ seasonal pattern. “Go for mining stocks with solid fundamentals,” the broker advised. “We are staying constructive on Philippine miners given the tailwinds in nickel, gold and other base metals, but we caution to keep position sizing disciplined,” it added. “On rates, we would not chase the inflation-is-over narrative as the real test of disinflation is deeper into fourth quarter. Hedge foreign exchange exposure by preferring US dollar earners and avoiding margin importers. Note that the end of the ‘ghost month’ festival nearly coincides with the Fed’s meeting mid-month; stay liquid ahead of Fed-related mind games,” 2TradeAsia mused. Currently, the market’s trading range is seen from 6,000 points to 6,150 points, Tantiangco said.

on the stock of the Gotianun-led property developer Filinvest Land Inc. (PSE: FLI), as it cut its net income forecast for the company by 8 percent to P4.29 billion. The broker said it has aligned its key assumptions with its latest results while recognizing imminent risks. “Although residential reservation sales surged 50 percent year-on-year to P12.49 billion during the first half, the strategy to clear immediate-occupancy inventory at a discount is limiting revenue growth,” it said. The residential segment accounts for about 61 percent of the developer’s total revenues. “Our gross value estimates for land bank, residential development, mall rental and office leasing are barely changed as longer-term prospects offset short-term challenges; however, broader macroeconomic headwinds— including elevated interest rates, inflation, softer GDP (gross domestic product) growth and negative market sentiment— prompted us to widen our net asset value discount assumption,” RCBC Securities said. FLI closed last week at P0.69 apiece. Meanwhile, the stock brokerage unit of Rizal Commercial Banking Corp. (RCBC) maintained its underweight rating on Emperador Inc. (PSE: EMI). RCBC Securities, however, raised its target price by 8 percent to P10.60, “banking on a margin recovery across brandy and scotch whisky following a period of margin compression and high-end spirit softness.” The broker expects Emperador’s core net income to grow this year with a slim 5 percent year-on-year. “Despite the upward valuation revision, EMI offers 30 percent downside relative to its current market price,” it said. EMI closed last week at P15.40 apiece. VG Cabuag

STOCK-MARKET OUTLOOK

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

September 4, 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 PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG LMG CORP MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE

53.35 120.8 10.7 104.9 53.5 10.04 65.85 6.98 74.8 51 88.75 22.8 64.3 23.5 0.5 1.39 0.51 4.01 0.34 0.121 1.42 206 0.8

53.4 120.9 10.8 105.4 53.55 10.1 65.9 7 74.95 52.7 105 23 64.45 23.55 0.51 1.4 0.53 4.2 0.365 0.125 1.45 207 0.85

55.5 120.3 10.78 104.6 53.2 10.18 66 7 78 52.3 88.75 22.8 64.4 23.45 0.5 1.43 0.51 4 0.305 0.12 1.42 207 0.81

55.6 121.4 10.8 105.4 53.65 10.18 66.35 7 78.3 52.8 88.75 22.8 64.6 23.5 0.5 1.46 0.51 4.2 0.37 0.128 1.48 208 0.81

53 120.3 10.6 103.6 53.2 10 65.55 7 74 51 88.75 22.8 63.85 23.2 0.5 1.39 0.51 4 0.305 0.12 1.42 206 0.81

53.35 120.9 10.8 105.4 53.55 10.1 65.85 7 74.95 52.7 88.75 22.8 64.3 23.5 0.5 1.4 0.51 4.19 0.365 0.126 1.45 206 0.81

137,230 1,299,950 71,700 605,090 594,070 502,500 2,436,870 26,500 878,920 4,050 10 9,000 150,530 23,300 30,000 529,000 1,000 10,000 80,000 1,250,000 2,523,000 9,670 12,000

7,430,240 157,114,016 773,090 63,494,857 31,787,819 5,060,584 160,441,785 185,500 66,688,435 207,434 888 205,200 9,645,248 547,235 15,000 745,030 510 41,360 28,200 156,530 3,594,370 2,000,242 9,720

-701,676 -28,191,496 -63,130 43,033,283 1,050,029 807,506 -80,242,698 -150,500 21,425,741 28,522 182,300 -7,020 -5,000 2,325,560 276,348 4,050

INDUSTRIAL ACEN CORP 2.69 2.7 2.74 2.75 2.69 2.7 4,572,000 12,420,010 19,540 1.1 1.11 1.09 1.13 1.08 1.11 6,818,000 7,573,870 608,290 ALSONS CONS 0.74 0.75 0.74 0.75 258,000 191,320 740 ALTERNERGY HLDG 0.75 0.75 ABOITIZ POWER 45.3 45.35 45.4 45.55 44.85 45.3 304,500 13,759,995 5,339,755 RASLAG 1.18 1.18 1.15 1.17 1.15 1.18 371,000 431,820 -32,480 0.111 0.112 0.108 0.111 0.108 0.111 3,020,000 333,370 BASIC ENERGY 4.82 4.97 4.89 5 4.8 4.98 575,000 2,853,910 28,670 CITICORE RE FIRST GEN 26.1 26.2 26.6 26.8 25.85 26.1 1,125,800 29,567,395 -4,183,875 FIRST PHIL HLDG 100 100.5 99 100 99 100 184,150 18,280,656 433,366 MERALCO 462 464 461.2 466.6 461.2 462 158,610 73,453,998 -8,623,420 35.3 35.35 34.9 35.4 34.9 35.3 1,206,700 42,379,000 -5,386,400 MANILA WATER 18.68 18.7 18.5 18.5 18.68 1,788,200 -1,966,104 MAYNILAD 18.8 33,353,562 PETRON 2.29 2.28 2.32 2.32 2.28 2.29 2,756,000 6,288,390 -160,460 PETROENERGY 4.15 4.1 4.11 4.13 4.1 4.1 158,000 649,480 15.2 15.2 15.2 15.26 15,100 229,526 15.26 15.26 PRYCE CORP 9.72 9.8 9.71 9.75 9.65 9.72 1,600 15,540 REPOWER ENERGY 17.64 17.66 17.22 17.7 17 17.64 1,757,900 30,595,918 7,528,480 SEMIRARA MINING SYNERGY GRID 25.8 25.85 26.1 26.15 25.6 25.8 1,168,100 30,196,055 -7,511,975 SHELL PILIPINAS 8.03 8.22 8.1 8.25 7.96 8.03 212,900 1,717,330 -169,337 9.6 9.8 9.85 9.9 9.6 9.6 5,900 57,185 SPC POWER 1.23 1.24 1.26 1.27 1.23 1.24 36,123,000 45,067,120 -11,122,520 SP NEW ENERGY TOP LINE 1.7 1.71 1.74 1.75 1.71 1.71 615,000 1,058,140 2.94 2.91 3.07 3.15 2.91 2.91 1,020,000 3,052,550 488,210 AXELUM CENTURY FOOD 32.2 32.45 32 32.5 31.8 32.2 755,700 24,321,530 331,480 3.7 3.75 3.76 3.76 3.7 3.75 7,000 26,110 -3,700 DEL MONTE 3.57 3.6 3.6 3.63 3.57 3.57 790,000 2,837,770 655,630 DNL INDUS EMPERADOR 15.44 15.4 15.42 15.48 15.38 15.4 203,600 3,137,464 -434,724 SMC FOODANDBEV 46.85 47 47.1 47.2 46.5 46.85 112,500 5,292,315 -3,906,610 0.6 0.62 0.62 0.63 0.61 0.61 1,944,000 1,200,260 -135,330 FIGARO GROUP 0.3 0.31 0.29 0.3 210,000 63,350 ALLIANCE SELECT 0.31 0.31 0.64 0.65 0.64 0.64 0.64 0.64 43,000 27,520 FRUITAS HLDG GINEBRA 232 232.4 232.6 232.6 230 232.4 137,430 31,949,554 -5,157,434 JOLLIBEE 151 151.1 154 154.3 151 151 434,400 66,074,777 -27,760,841 1.86 1.87 1.87 1.88 1.85 1.86 1,361,000 2,531,890 1,126,760 KEEPERS HLDG 20.7 21 22.5 22.5 20.6 21 900 19,210 -2,250 LIBERTY FLOUR MAXS GROUP 2.16 2.21 2.16 2.18 2.14 2.18 70,000 152,000 -15,260 MG HLDG 0.07 0.073 0.071 0.071 0.07 0.07 180,000 12,670 6.85 6.86 6.82 6.94 6.82 6.85 520,500 3,577,867 -11,438 MONDE NISSIN 5.48 5.56 5.5 5.5 5.5 5.5 7,100 39,050 12,100 SHAKEYS PIZZA 2.47 2.53 2.49 2.55 2.49 2.53 77,000 194,570 -22,770 ROXAS AND CO RFM CORP 5.24 5.25 5.33 5.33 5.21 5.25 572,100 3,002,723 -766,576 SWIFT FOODS 0.056 0.056 0.055 0.055 0.055 0.056 110,000 6,090 58.7 58.8 59.6 59.6 58.25 58.7 1,299,290 76,163,690 -53,205,131 UNIV ROBINA 0.5 0.51 0.49 0.51 0.49 0.5 400,000 200,000 VITARICH ATN HLDG A 0.41 0.415 0.415 0.415 0.41 0.41 2,570,000 1,064,950 0.41 0.415 0.415 0.415 0.415 0.415 1,550,000 643,250 ATN HLDG B 54.05 57.95 57.95 57.95 57.95 57.95 10 580 CONCRETE A 51.3 59.9 59.9 59.9 30 1,797 59.9 59.9 CONCRETE B 1.3 1.33 1.34 1.34 1.3 1.33 870,000 1,144,930 CONCREAT HLDG EEI CORP 1.85 1.85 1.82 1.85 1.83 1.85 54,000 99,570 9,070 MEGAWIDE 5.12 5.19 5.2 5.3 5.06 5.2 1,563,600 8,118,359 532,411 14.1 14.5 14.5 14.5 500 7,250 PHINMA 14.5 14.5 10 12 9.1 9.1 9.69 1,100 10,485 SUPERCITY 9.99 1.84 1.88 1.82 1.89 1.82 1.85 639,000 1,170,360 544,640 CROWN ASIA EUROMED 1.09 1.16 1.14 1.14 1.1 1.1 63,000 69,600 2,280 MABUHAY VINYL 5.25 5.25 5.15 5.1 5.1 5.25 13,500 69,440 -44,370 10.82 10.5 10.9 10.5 10.8 40,500 427,786 -82,950 CONCEPCION 10.96 0.16 0.163 0.163 0.158 0.162 340,000 54,650 1,580 GREENERGY 0.162 INTEGRATED MICR 7.43 7.45 7.3 7.69 7.3 7.43 6,581,500 49,274,932 317,989 IONICS 13,252,490 2.59 2.6 2.68 2.78 2.57 2.6 4,952,000 -1,652,610 PANASONIC 7.3 7.3 7.1 7.3 7.29 7.29 2,500 18,227 1.4 1.42 1.39 1.45 1.39 1.42 4,608,000 6,585,240 708,660 CIRTEK HLDG

HOLDING & FRIMS

LAST WEEK SHARE prices bounced back last week with the main index returning to the 6,000-point level mainly because of bargain hunters. The benchmark Philippine Stock Exchange index gained 134.27 points to close at 6,090.60 points. The main index was up almost all week long, except on Tuesday when it gave up 40 points. Trading volume, however, was tepid, only averaging for the four-day trading week at P5.27 billion. Foreign investors, who cornered 57 percent of the trades, were net sellers at P1.35 billion. All other sub-indices went up, led by the broader All Shares index that gained 58.45 to close at 3,377.44. The Financials index rose 57.85 to 1,922.32 while the Industrial index was up by a mere 1.49 to 7,907.12. The Holding Firms index climbed 38.47 to 4,368.62 while the Property in-

dex added 13.33 to 1,880.32. The Services index surged 129.99 to 3,261.07 and the Mining and Oil index soared 995.56 to 21,065.44. For the week, gainers led losers 131 to 80 and 36 shares were unchanged. The top gainers were BHI Holdings Inc., Medco Holdings Inc., IPM Holdings Inc., East Coast Vulcan Mining Corp., Mabuhay Holdings Corp., Supercity Realty Development Corp. and Asiabest Group International Inc. The top losers, meanwhile, were LBC Express Holdings Inc., Anchor Land Holdings Inc., Prime Media Holdings Inc., Jackstones Inc., ENEX Energy Corp.,Discovery World Corp. and Vantage Equities Inc.

THIS WEEK SHARE prices may still move with a downward bias as overall investor confidence remains low as reflected on the tepid value turnover.

STOCK PICKS RCBC Securities Inc. gave a “hold” rating

‘Incentives for EVs be plugged in thru 2040’ Continued from B1

Also, Buencamino said, the ideal scenario for the industry is extending the tariff-free treatment, which continues to engage government agencies on policies affecting EV adoption. Now, the government is urged to lead the EV transition by increasing its adoption of electric vehicles, given its role as a major vehicle procurer. “The government needs to do its share,” she said. “For the government to be the first to do the adoption itself, because even the government, they are a large procurement body.” Government adoption, Buen-

camino said, could demonstrate the viability of the technology and encourage greater uptake by the private sector.

Pain points

WHILE policy support remains a key concern, EV infrastructure providers are also dealing with practical hurdles that can slow the expansion of charging networks. ACMobility had more than 500 public charging points as of July, while its charge points accounted for more than 45 percent of the DOE’s registered charging stations nationwide after excluding battery-swapping systems, which do not apply to cars.

ABACORE CAPITAL 0.34 0.345 0.345 0.345 0.335 0.345 1,790,000 609,650 -6,900 62.15 62.2 61.5 62.55 61 62.2 678,840 42,073,765 13,693,133 ASIABEST GROUP 499.6 500 495 500.5 492.2 500 187,390 93,571,705 -35,998,349 AYALA CORP ABOITIZ EQUITY 37.5 37.7 37.8 37.8 37.1 37.5 880,500 33,056,285 -6,278,240 ALLIANCE GLOBAL 9.05 9.14 9.08 9.08 8.98 9.05 3,009,100 27,195,478 -23,072,114 16.66 17 17 17.5 4,700 81,250 ANSCOR 17.5 17.5 1.46 1.47 1.47 1.55 1.4 1.47 2,987,000 4,426,120 -93,520 ANGLO PHIL HLDG COSCO CAPITAL 7.79 7.85 7.77 7.86 7.76 7.85 207,900 1,616,615 720,930 DMCI HLDG 7.96 7.98 7.8 8.06 7.8 7.98 3,188,100 25,349,934 -7,169,037 FILINVEST DEV 3.61 3.73 3.61 3.61 3.61 3.61 9,000 32,490 494 495 493.2 499 492 494 50,300 24,846,776 7,775,566 GT CAPITAL 4.7 4.97 4.7 4.72 4.7 4.7 4,760,000 22,372,020 HOUSE OF INV JG SUMMIT 20.4 20.6 20.45 20.75 20.1 20.6 2,207,100 45,029,600 2,526,285 LODESTAR 0.355 0.335 0.35 0.37 0.33 0.36 520,000 176,250 16,750 5.37 5.47 5.5 5.5 5.36 5.47 14,300 78,479 -6,572 LOPEZ HLDG 15.16 15.2 15.3 15.3 15.16 15.16 2,402,800 36,538,808 -1,495,310 LT GROUP 0.1 0.093 0.093 0.105 170,000 16,740 -4,000 MABUHAY HLDG 0.105 0.105 PACIFICA HLDG 0.87 0.88 0.83 0.86 0.83 0.86 6,000 5,070 1.14 1.23 1.11 1.2 1.02 1.14 51,000 57,060 PRIME MEDIA 1.16 1.18 1.16 1.16 1.16 1.16 19,000 22,040 SOLID GROUP 560.5 562 555 563 555 562 269,980 151,203,150 -91,870,345 SM INVESTMENTS SAN MIGUEL CORP 62.8 63 63.5 63.95 62.6 63 21,270 1,341,947 -85,222 TOP FRONTIER 54.5 54.5 52.8 54.5 52.8 52.8 60 3,185 0.071 0.075 0.074 0.076 0.074 0.076 450,000 33,360 ZEUS HLDG PROPERTY AYALA LAND 15.24 15.28 15 15.28 15 15.28 8,801,600 133,836,846 11,379,094 1.12 1.17 1.17 1.17 1.11 1.17 1,088,000 1,238,400 -84,670 AYALA LAND LOG 12 12.58 12.5 12.5 11.82 11.84 27,100 337,682 312,500 ALTUS PROP ARANETA PROP 0.265 0.28 0.27 0.27 0.27 0.27 70,000 18,900 37.5 37.5 37.1 36.9 36.75 37.5 410,500 15,182,650 -185,830 AREIT RT 0.74 0.78 0.74 0.78 301,000 234,700 A BROWN 0.78 0.78 0.6 0.62 0.6 0.63 0.6 0.62 38,000 23,440 CITYLAND DEVT CROWN EQUITIES 0.088 0.095 0.088 0.088 0.088 0.088 40,000 3,520 2.06 2.07 2.05 2.08 2.05 2.06 178,000 369,290 -64,100 CEB LANDMASTERS CENTURY PROP 0.64 0.64 0.63 0.63 0.62 0.63 11,092,000 6,959,870 44,100 3.19 3.2 3.22 3.24 3.18 3.2 1,997,000 6,406,490 -2,295,300 CITICORE RT 12.06 12.14 12 12.14 205,300 2,488,176 -159,540 DOUBLEDRAGON 12.14 12.18 DDMP RT 1.04 1.04 1.03 1.04 1.03 1.04 1,816,000 1,873,730 9,220 DM WENCESLAO 4.8 4.98 4.9 4.99 4.71 4.98 89,400 435,564 0.026 0.029 0.029 0.029 100,000 2,900 0.029 0.029 EVERWOODS 0.098 0.099 0.098 0.098 0.098 0.098 10,000 980 EMPIRE EAST 2.89 2.9 2.91 2.92 2.88 2.9 257,000 745,330 40,590 FILINVEST RT FILINVEST LAND 0.68 0.69 0.68 0.69 0.68 0.69 4,951,000 3,376,830 -710 GLOBAL ESTATE 0.61 0.63 0.61 0.61 0.61 0.61 12,000 7,320 1.61 1.8 1.8 1.56 1.61 79,000 129,740 6,560 1.83 JACKSTONES 2.48 2.59 2.56 2.56 2.56 2.56 1,000 2,560 KEPPEL PROP MEGAWORLD 2.26 2.26 2.25 2.24 2.23 2.25 847,000 1,907,410 -327,810 MRC ALLIED 0.71 0.71 0.7 0.7 0.69 0.71 74,071,000 52,152,240 65,800 MREIT RT 13.76 13.78 13.8 13.84 13.74 13.78 286,900 3,955,062 -442,406 0.102 0.104 0.104 0.104 100,000 10,400 OMICO CORP 0.104 0.104 0.176 0.18 0.168 0.19 0.168 0.18 4,270,000 769,970 -31,140 PRMIERE HORIZON 1.04 1.04 PREMIERE RT 1.03 1.04 1.01 1.04 292,000 300,720 -20 PRIMEX CORP 1 1.1 1.05 1.09 1.05 1.09 16,000 16,950 6.81 6.82 7 7.07 6.77 6.82 12,291,900 84,255,538 -9,654,084 RL COMM RT 17.48 17.54 17.48 17.7 17.3 17.54 813,100 14,276,948 4,186,904 ROBINSONS LAND 0.11 0.107 0.107 0.114 120,000 13,380 PHIL REALTY 0.114 0.114 ROCKWELL 3.05 3.05 3 3 2.99 3 1,760,000 5,273,820 -89,510 SHANG PROP 3.21 3.25 3.23 3.28 3.21 3.25 237,000 763,930 -126,130 1.86 1.99 1.93 1.99 1.93 1.99 18,000 35,420 STA LUCIA LAND 18.32 18.34 18.3 18.38 18.1 18.34 1,529,500 28,003,826 9,317,150 SM PRIME HLDG SUNTRUST RESORT 0.42 0.42 0.41 0.41 0.405 0.42 230,000 93,650 -4,200 WELLEX INDUS 0.28 0.33 0.275 0.28 0.275 0.28 30,000 8,300 SERVICES ABS CBN 3.66 3.67 3.63 3.67 3.63 3.66 64,000 233,580 4 4.07 4.09 4.09 4.01 4.08 88,000 356,070 GMA NETWORK 0.181 0.187 0.19 0.19 0.19 0.19 10,000 1,900 MANILA BULLETIN DITO CME HLDG 0.68 0.69 0.69 0.69 0.67 0.68 2,417,000 1,644,680 94,780 GLOBE TELECOM 1,610 -23,960,480 1,609 1,610 1,591 1,615 1,591 45,610 73,374,255 1,145 1,146 1,149 1,159 1,139 1,146 30,265 34,700,475 -1,770,695 PLDT 0.0061 0.0063 0.006 0.0062 0.006 0.0062 133,000,000 816,700 APOLLO GLOBAL CONVERGE 9.22 9.16 9.28 9.3 9.13 9.16 3,058,200 28,163,420 -16,403,776 IMPERIAL 0.86 0.86 0.98 0.86 0.86 0.86 2,000 1,720 0.13 0.135 0.12 0.136 0.12 0.135 16,850,000 2,236,960 ISLAND INFO 0.44 0.45 0.44 0.45 200,000 90,050 -31,600 0.46 0.46 NOW CORP 0.119 0.12 0.121 0.121 0.119 0.119 590,000 70,230 TRANSPACIFIC BR CHELSEA 0.89 0.89 0.85 0.88 0.88 0.89 350,000 311,190 28 28 27.75 27.75 27.75 27.75 109,200 3,033,820 10,880 CEBU AIR 934 934.5 930.5 941 923 934.5 471,050 440,109,415 21,156,550 INTL CONTAINER 7.03 7.83 7.01 7.01 7.01 7.01 400 2,804 LBC EXPRESS 0.67 0.69 0.67 0.69 0.67 0.69 10,000 6,800 -2,070 LORENZO SHIPPNG MACROASIA 3.77 3.75 3.76 3.8 3.75 3.75 362,000 1,362,010 193,880 PAL HLDG 2.88 2.89 2.65 2.88 2.61 2.88 2,599,000 7,309,330 723,410 1.99 2.03 2.02 2.09 1.94 2.03 5,600,000 11,364,930 -1,426,630 HARBOR STAR 1.39 1.48 1.39 1.39 1.39 1.39 30,000 41,700 ACESITE HOTEL BOULEVARD HLDG 0.034 0.035 0.035 0.036 0.034 0.034 76,100,000 2,661,600 -3,500 DISCOVERY WORLD 0.94 1.05 1 1 1 1 1,000 1,000 14.74 15.22 14.7 15.22 14.7 15.22 2,900 43,530 CENTRO ESCOLAR 1.29 1.31 1.3 1.32 1.29 1.31 323,000 417,570 342,090 STI HLDG 1.14 1.14 1.14 1.15 54,000 61,590 BELLE CORP 1.15 1.15 BLOOMBERRY 2.29 2.28 2.31 2.32 2.24 2.29 7,470,000 17,038,640 -3,523,950 PACIFIC ONLINE 1.58 1.76 1.6 1.6 1.6 1.6 26,000 41,600 9.68 9.7 9.9 9.91 9.62 9.68 5,095,900 -6,277,483 49,685,570 DIGIPLUS 14.4 14.5 14.14 14.1 14.4 3,163,700 45,492,454 25,634,360 PHILWEB 14.68 1.06 1.07 1.09 1.1 1.06 1.06 133,000 145,090 -150 METRO RETAIL PUREGOLD 40.45 40.75 40.5 40.8 40 40.5 922,600 37,360,755 -12,752,220 PHIL SEVEN CORP 32.25 32.75 33 33 32.05 32.2 199,100 6,543,230 437,170 2.16 2.03 2.03 2.19 24,053,000 49,082,940 -44,919,960 SSI GROUP 2.19 2.19 0.83 0.85 0.9 0.9 0.83 0.83 406,000 345,540 -19,180 UPSON INTL CORP WILCON DEPOT 5.7 5.73 5.7 5.75 5.65 5.7 1,515,900 8,623,571 868,661 APC GROUP 0.106 0.112 0.112 0.114 0.106 0.11 590,000 65,810 1.96 2.14 1.81 2.4 1.81 2.17 6,000 12,400 -1,810 IPM HLDG 0.221 0.221 0.221 0.22 0.22 320,000 70,430 MEDILINES 0.233 3.76 3.9 3.9 3.8 3.9 674,000 2,610,450 -200,010 PAXYS 4.15 PHILCOMSAT 1.62 1.64 1.62 1.62 1.62 1.62 10,000 16,200 3.05 3.13 3.06 3.13 3 3.13 28,000 85,340 -160 SBS PHIL CORP MINING & OIL ATOK 1.87 1.87 1.87 1.92 19,000 36,160 11,400 1.97 1.97 17.14 17.2 17.5 17.94 17.12 17.2 13,001,700 228,212,984 24,643,540 APEX MINING ATLAS MINING 21.35 21.4 21.55 22 21.15 21.4 3,853,600 82,970,610 -3,440,465 BENGUET A 7.62 7.7 7.7 7.75 7.6 7.62 147,300 1,124,442 4.22 4.7 4.7 4.8 4.7 4.7 24,000 113,100 DIZON MINES 0.36 0.38 0.405 0.43 0.355 0.38 3,100,000 1,196,050 -94,050 EC VULCAN FERRONICKEL 2.33 2.28 2.3 2.24 2.23 2.3 4,528,000 10,415,160 -1,398,490 GEOGRACE 0.113 0.11 0.112 0.117 0.107 0.113 3,340,000 369,990 0.25 0.255 0.245 0.26 0.245 0.25 102,670,000 25,669,230 LEPANTO A 0.24 0.247 0.24 0.249 0.24 0.24 4,320,000 1,060,580 -69,050 LEPANTO B 0.009 0.0093 0.0092 0.0095 0.0088 0.0093 79,000,000 731,800 MANILA MINING A MANILA MINING B 0.0088 0.0095 0.0095 0.0095 0.0095 0.0095 10,000,000 95,000 0.86 0.86 0.85 0.84 0.83 0.86 5,941,000 5,056,940 402,050 MARCVENTURES 0.6 0.62 0.64 0.58 0.62 1,029,000 638,140 NIHAO 0.65 4.58 4.6 4.65 4.76 4.51 4.6 9,871,000 45,586,910 -3,469,360 NICKEL ASIA 36.95 37 37.5 37.8 37 1,124,100 42,074,740 -10,179,365 OCEANAGOLD 36.95 ORNTL PENINSULA 0.59 0.62 0.59 0.67 0.59 0.62 5,876,000 3,671,850 620 PX MINING 11.42 11.44 11.8 12 11.44 11.44 8,495,900 98,504,588 -12,448,832 0.0087 0.0088 0.0085 0.0092 0.0085 0.0088 93,000,000 827,900 -89,000 UNITED PARAGON 3.2 3.29 3.28 3.28 3.28 3.28 1,000 3,280 ENEX ENERGY ORNTL PETROL A 0.014 0.015 0.014 0.014 0.014 0.014 360,900,000 5,052,600 0.013 0.015 0.013 0.014 0.013 0.014 151,700,000 2,123,600 ORNTL PETROL B 0.0095 0.0091 0.0092 0.009 0.009 0.0091 578,000,000 5,300,600 -458,400 PHILODRILL 3.34 3.35 3.33 3.43 3.29 3.35 4,158,000 13,974,760 -1,146,670 PXP ENERGY PREFFERED ACEN PREF A 985 990 1,000 1,000 985 985 2,800 2,762,900 1,030 1,039 1,039 1,039 1,039 1,039 5 5,195 ACEN PREF B 2,466 2,494 2,494 2,494 2,494 2,494 200 498,800 AC PREF AR AC PREF B3R 1,948 1,950 1,947 1,947 1,947 1,947 5 9,735 1,931 1,955 1,940 1,940 1,932 1,932 240 465,080 AC PREF B4R 475 494 494 494 494 494 70 34,580 ALCO PREF F 101.8 102.5 101.7 101.7 101.7 101.7 500 50,850 BRN PREF C CEB PREF 28.7 28.7 28.4 28.4 28.4 28.7 1,500 42,965 965 977 950 970 950 970 2,050 1,948,510 47,500 CLI PREF A1 CPG PREF B 98.5 99.1 99 99 98.5 98.5 1,810 178,885 93.25 94.3 93.2 94.35 93.2 94.35 2,630 247,809 DD PREF 96.5 96.9 96.5 96.9 96.5 96.9 3,160 304,968 EEI PREF B GLO PREF ANV 1,946 1,967 1,970 1,970 1,967 1,967 25 49,235 1,970 1,997 1,970 1,997 1,970 1,997 25 49,790 GLO PREF BNV 995 998 995 997.5 995 997.5 800 797,250 GTCAP PREF B 991 998 998 998 998 998 20 19,960 JFC PREF B 100 100.8 100 100 100 100 1,130 113,000 -69,000 MWIDE PREF 6A MWIDE PREF 6B 101 102.2 102.2 102.2 102.2 102.2 650 66,430 99 100.6 99.5 99.5 99.5 99.5 100 9,950 MWIDE PREF 7A 980 998 985 985 980 980 10,000 9,805,070 PCOR PREF 4C 970 979 970 979 970 979 20 19,490 PCOR PREF 4D SMC PREF 2L 76.8 80.2 77.25 80 76.8 80 94,910 7,384,754 -3,256,354 SMC PREF 2N 77.9 78.9 78.9 78.9 78.9 78.9 2,060 162,534 78.5 79 79.5 79.5 79 79 31,810 2,513,000 SMC PREF 2O 74 74.5 74 74 74 74 140 10,360 SMC PREF 2P 75 76.9 75 76.9 74.85 76.9 730 55,322 SMC PREF 2U SMC PREF 2V 78 78.9 79 79 78.9 78.9 110 8,686 78 78.3 78.5 78.5 78 78 2,630 205,178 SMC PREF 2W 79.5 79.8 79.8 79.8 79.5 79.8 1,280 102,087 SMC PREF 2X 8.29 9 8.29 8.29 8.29 8.29 1,100 9,119 TECH PREF B2C 100 100.3 100 100.3 100 100.3 680 68,015 TOP PREF A1 TOP PREF A2 101.1 101.8 101 102 101 101.9 200 20,339 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.35 3.4 3.35 3.36 3.34 3.36 44,000 147,530 4.03 4.28 3.96 4.28 3.95 4.28 21,000 83,320 1.05

SM A L L, M ED I U M & EM E R G IN G

CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH MAKATI FINANCE XURPAS NEXGEN ENERGY

0.34 1.4 0.65 1.37 1.86 0.206 2.58

1.15

1.05

6,000

6,300

0.37 1.41 0.68 1.43 1.99 0.22 2.65

0.345 1.4 0.65 1.37 2.28 0.205 2.65

0.365 1.43 0.68 1.37 2.28 0.205 2.65

0.345 1.4 0.65 1.37 1.86 0.205 2.65

0.365 1.43 0.68 1.37 2.21 0.205 2.65

1,110,000 26,000 31,000 40,000 15,000 30,000 1,000

398,150 36,530 20,180 54,800 30,210 6,150 2,650

-91,650 -

EXHANGE TRADE FUNDS FIRST METRO ETF

102.5

-15,840

103

102.5 103 102.5 103 2,320 237,970 -

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Transformative banking

AVANTE outlined the remarkable potential of “Open finance.” It transcends being merely a regulatory framework; it serves as a dynamic growth engine that unlocks new revenue streams, fosters partnerships, and enhances customer value. “The future of banking is here,” he declared. He highlighted the vital role of AI, cloud-native systems, and open finance frameworks in revolutionizing customer experiences and expanding access to underserved communities. This is not just about technology; it’s about creating opportunities. Avante also called on financial institutions to pursue sustainable profitability, anchored in trust and resilience. By integrating the National ID system through authentication services, he envisions secure identities for all Filipinos — enabling faster SME onboarding, stronger fraud prevention, and inclusive access to finance. Aligning with the central bank’s “National Strategy for Financial Inclusion 2022–2028,” Avante urged banks, regulators, and fintechs to unite in bridging gaps in access and literacy. “Identity alone isn’t enough; we must empower our people with financial literacy,” he stressed. With a National ID linked to Open Finance, every Filipino can gain not just access to accounts but also the knowledge to manage

Economists flag DepDev chief’s tighter monetary policy stance

PBB president, CEO took center stage at WFIS 2026

T the recently held World Financial Innovation Series (WFIS) Philippines 2026, themed “Expanding Financial Capability Across the Philippines,” industry leaders converged to innovate the future of finance. Philippine Business Bank (PBB) President and CEO Rolando R. Avante delivered a compelling keynote on “Open finance,” emphasizing its role as a growth engine for new revenue, partnerships, and customer value. His powerful message urged transformative leadership, digital innovation, and responsible lending to foster sustainable growth in the Philippine banking sector.

Editor: Dennis D. Estopace • Monday, September 7, 2026

By Justine Xyrah Garcia

S credit, savings, investments, and digital tools. Financial literacy, he emphasized, is the bridge between identity and true empowerment. One of the most riveting moments came when Mr. Avante highlighted the perils of high-interest lending. He poignantly warned, “Borrowers can easily get buried under debt when interest charges are excessive.” He rallied financial institutions to adopt fairer, more inclusive lending models that empower rather than exploit individuals.

Indelible mark

IN his closing remarks, Mr. Avante left an indelible mark on the audience: “Ang nagigipit, sa utang kumakapit. But that should not be the case.” He urged the financial industry to create pathways that prevent borrowers from falling into unsustainable debt traps and empower them to thrive through responsible and inclusive banking. Mr. Avante’s keynote reinforced his role as a leader in transformative banking and emphasized a moral imperative in the WFIS agenda. His advocacy for ethical lending and financial inclusion reminded attendees that innovation should prioritize people over profits. The impact of his words was palpable; two panelists, the CIO of GSIS and the Sustainability Office Head of EastWest Bank, echoed his messages in their own keynotes. Mr. Avante’s powerful reminder— “Ang nagigipit, sa utang kumakapit.”—resonated throughout the event, amplifying his call for responsible banking and a brighter financial future for all. Judith C. Songlingco is the Head of Corporate Affairs and Brand Marketing at Philippine Business Bank (PBB) and the Secretary of the Bank Marketing Association of the Philippines (BMAP). The writer’s views and her written piece do not necessarily reflect those of the BusinessMirror, the PBB and the BMAP. She can be reached via judith.songlingco@yahoo.com. For more information, visit www.bmap.org.ph or https://facebook.com/BankMarketingAssociationPH.

OCIOECONOMIC Planning Secretary Arsenio M. Balisacan’s openness to further monetary tightening to contain inflation and support the peso could come at the cost of weaker economic growth, economists warned. policy, which can reduce money supply and demand in the economy through measures such as higher interest rates. This, in practice, could help lower inflation and potentially support the peso by making the currency more attractive to investors. “But it will also lower borrowing, consumption and investment… So yes, the government is willing to sacrifice growth to stabilize peso and bring down inflation,” Oplas told the BusinessMirror. If the central bank proceeds with further tightening, however, this could make it more difficult for the government to meet its recalibrated growth target of 3.5 percent to 4.5 percent this year—especially since the economy grew by only 2.6 percent in the first half. Oplas said weaker growth may be a reasonable short-term tradeoff to tame persistent inflation, but prolonged monetary tightening should not become the government’s

This comes as Balisacan last week said the Bangko Sentral ng Pilipinas (BSP) could tighten monetary policy further if necessary, depending on the source and persistence of the pressure on the peso and inflation. Balisacan also noted that using the country’s foreign exchange reserves could provide only temporary relief, particularly if external pressures persist. “I’m sure they are monitoring the situation…So kung kinakailangan mag tighten, ay mag-tighten,” the government’s chief economists told reporters when asked if the economy could still absorb further rate hikes. The BSP last month once again hiked its key rate by another 25 basis points, bringing the policy rate to 5 percent. Since April, the Monetary Board has delivered 75 basis points in total. De La Salle University Economist Maria Ella C. Oplas explained that a further monetary tightening would amount to contractionary monetary

long-term solution as it could weigh on businesses, consumers, and employment. Meanwhile, Ateneo de Manila University Economist Ser K. PeñaReyes said the trade-off reflects the BSP’s mandate to prioritize price stability, even if tighter monetary policy raises the risk of slower economic activity. For the BSP, bringing inflation back to target takes precedence, while the government should use fiscal policy to support growth and prevent tighter monetary conditions from pushing the economy into a recession. “Growth can more easily recover, but inflation, once expectations of it become entrenched, will be much harder to tame. And a high-inflation environment is not conducive to growth,” Peña-Reyes told the BusinessMirror.

Fiscal stimulus, discipline

FORMER Socioeconomic Planning Secretary Dante B. Canlas said the Department of Economy, Planning, and Development (DepDev) should focus on fiscal measures that can support growth while continuing efforts to bring inflation down. “This is surprising coming from DepDev... DepDev is largely growth oriented. Its approach must be geared to disinflation without triggering a recession,” Canlas told the BusinessMirror. He added that the DepDev could, for instance, focus on crafting a master plan to address flooding in Central Luzon which is a major contribu-

tor to the country’s economic output. Canlas said this would require a rebalancing of public and private capital, with the government providing public funding for flood control, river maintenance, water impounding and alternative non-toll roads to support privately financed infrastructure such as the North-Luzon and South-Luzon Expressways. These long-term climate mitigation projects, he said, should be funded through public capital under the General Appropriations Act, rather than leaving privately financed toll roads to bear the burden of inadequate public infrastructure. “DepDev is the government agency that brings such an important perspective to master planning the country’s infrastructure system,” Canlas emphasized. Oplas added that the government should also tighten its fiscal spending by cutting unnecessary expenditures, ending support for nonperforming government-owned and -controlled corporations, streamlining processes, and downsizing or automating government operations. Balisacan, for his part, said the government is also prioritizing resources to address structural constraints to investment, power and infrastructure to improve the country’s competitiveness over the longer term. “We should not approach the issue by just looking at the short term only. You need to be mindful that our choice of response is informed by understanding the trade off [between the] short term versus the longer term,” he added.

Amid weak import volume, BOC rakes in high Aug take By Reine Juvierre Alberto

higher valuations of non-oil imports despite lower volumes, while increased oil shipments and favorable global prices further lifted petroleum trade values,” the BOC said. “Combined, these factors reinforced the revenue base and emphasized the Bureau of Customs’ vital role in sustaining fiscal stability,” it added. However, the August collection was 1.97 percent below the bureau’s P82.943-billion target for the month, resulting in a shortfall of P1.593 billion. Of the 17 collection districts under the BOC’s watch, 12 surpassed their respective collection targets. These included the ports of Aparri, Legazpi, San Fernando, Iloilo, Tacloban, Clark, Subic, Davao, Cagayan de Oro, Limay, Cebu and Zamboanga. The remaining five—Batan-

@reine_alberto

HE Bureau of Customs (BOC) bucked weaker import volumes in August as it collected more revenue than a year earlier on higher-valued non-oil shipments and stronger petroleum trade. However, revenues still fell short of the agency’s target for the month. Preliminary data from the second-largest revenue-generating agency showed that it collected P81.350 billion in August, up by 5.1 percent from the P77.436 billion it raked in during the same month a year ago. These collections came from import duties and taxes, value-added tax on imports and excise taxes on petroleum products. “Revenue growth stemmed from

gas, Manila and Surigao, as well as the Manila International Container Port and Ninoy Aquino International Airport—missed their targets. Still, the border control agency amassed a total of P664.764 billion in revenues from January to August this year. This was 6.98 percent higher than the P621.387 billion it collected during the same eight-month period a year earlier. The BOC has been benefiting from higher duties and VAT collections on imports due to the stronger US dollar and higher crude oil prices as the conflict between the United States and Iran escalated in February. The Philippine peso fell to a new record low of P62.59 against the dollar last Friday, September 4, weaker by 7 centavos from Thursday’s close

of P62.52. Renewed fighting in the Middle East has also sent global crude oil prices to near three-month highs, with Brent crude trading at $96 per barrel. Nonetheless, the BOC is expected to hit its P1.011-trillion revenue target for this year, which was raised from its earlier goal of P1.003 trillion to take into account the stronger US dollar, higher oil prices and increased imports. “We’re confident we can still hit the additional adjusted revenue target,” Customs Commissioner Ariel F. Nepomuceno said earlier, banking on improved revenue collection and tightened assessment processes. Next year, the BOC’s revenue collection is projected to reach P1.074 trillion and hit P1.134 trillion in 2028.

PHL to wrap up talks on tax deals BSP to operate QR-code merchant database

HE Philippines is aiming to wrap up double tax agreement (DTA) talks with Oman and Singapore before yearend, while also advancing negotiations with some Asean member states during its chairmanship of the regional bloc. Speaking to reporters on the sidelines of a stakeholders’ briefing last week, Finance Assistant Secretary Euvimil Nina R. Asuncion said the Philippines hopes to conclude negotiations for a DTA with Oman within the year after securing the special authority needed to negotiate the agreement. Once President Ferdinand R. Marcos Jr. gives his approval, Asuncion said the two countries can proceed with the first round of negotiations. The Department of Finance (DOF), which takes the lead in negotiating DTAs, seeks to complete the Oman negotiations in just one formal round. “What we usually do is we have pre-negotiation meetings. We’re able to thresh out already [some]

items prior to the actual negotiation,” the DOF official said. “So hopefully in that one round, we just confirm the items that we previously agreed upon and then do the more technical discussion on the items that are hanging from that pre-negotiation meeting,” Asuncion added. A DTA sets out how income earned in one country by a resident of another country will be taxed, including which country can impose taxes and to what extent, to prevent the same income from being taxed twice. The agreements generally cover income such as business profits, royalties, interest, dividends and capital gains, as well as income earned by independent workers and contractors, Asuncion noted. Meanwhile, the Philippines is also pushing to conclude its ongoing DTA renegotiations with Singapore, with the second round of talks scheduled for the last week of September. “We don’t want any extensions

to the Singapore negotiations anymore. We want to finish it as soon as possible,” Asuncion said. The negotiations would update the five-decade-old 1977 DTA, which covers taxes on income and other similar taxes. The DOF completed the first round of negotiations in September last year. The DOF is likewise seeking a second round of negotiations with Laos and Malaysia within the year, Asuncion added. “At least within the Asean chairmanship of the Philippines, we’re able to conclude some of our ongoing DTA negotiations or renegotiations with the other Asean member states,” she said. Beyond the region, the Philippines is also targeting at least the first round of DTA negotiations with Luxembourg within the year, Asuncion added. The first round would mark the start of negotiations toward establishing a DTA between the two countries. The Philippines currently has DTAs with 44 jurisdictions. Reine Juvierre S. Alberto

By Andrea Louise San Juan

HE central bank said it is set to establish, implement, and maintain a centralized National QR Code Merchant Database that will store all merchant information to ensure reliability of QRenabled payment services in the country. In a proposed circular, the Bangko Sentral ng Pilipinas (BSP) indicated that the Monetary Board is set to approve amendments to the “Manual of Regulations for Payment Systems” (Morps) “consistent with the objectives of ensuring the safety, efficiency, security and reliability, and integrity of the national payment system.” “BSP-supervised institutions (BSIs), including operators of payment systems (OPS) and payment service providers (PSPs), and other relevant participants in the national payment system shall establish and maintain risk-based controls that provide sufficient, accurate, current, and timely visibility over the persons, merchants, intermediaries, accounts, payment channels, transactions, and settlement flows involved in payment activity, commensurate with their respective roles,” the central bank said in the draft circular.

Among the amendments to the Morps is the creation of the National QR Code Merchant Database, “containing information on merchants that accept payments through the National QR Code Standard.” “As warranted, the functions of establishing, implementing, and maintaining a centralized National QR Code Merchant Database may be delegated to the payment system management body (PSMB),” the central bank also noted. The proposed circular noted that the BSP or the PSMB may engage or designate a “qualified” third party to perform, in whole or in part, the operational, technical, and administrative functions relating to the database.

Trusted repository

THE central bank explained that the database shall serve as a “trusted repository” of merchant information to support merchant identification and verification, strengthen fraud prevention and detection measures, facilitate interoperability among participating PSPs, and promote the safety, efficiency, and reliability of QR-enabled payment services. With this, the BSP said payment service providers that onboard, sponsor, or

maintain merchant accounts for participation in the National QR Code ecosystem shall submit, maintain, and update merchant information in accordance with standards, procedures, and timelines prescribed by the central bank. “PSPs shall ensure that merchant information submitted to the database is accurate, complete, and kept current at all times,” the BSP said.

Database info

THE central bank revealed that at least 14 nodes of information are required to be stored in the National QR Code Merchant Database. These nodes include unique merchant identifier assigned in accordance with the National QR Code Standard, registered business name and trade name, where applicable; merchant category code (MCC) or business classification and business registration details, among others. The BSP shaid it shall approve the governance framework, data dictionary, access categories, update deadlines, retention period, correction and dispute process, cybersecurity standards, business continuity requirements, and supervisory-access arrangements of the database.

Explainer BusinessMirror

B4 Monday, September 7, 2026

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A DIFFERENT KIND OF HER-STORY

How Parton and Steinem embodied two very different faces of feminism By Laurie Kellman & Bill Barrow

The Associated Press

NE shaped and delivered the language of feminism. The other rejected the label but showed how feminism can be done: with a microphone dusted in rhinestones, and without apology.

WOMEN’S rights spokeswoman Gloria Steinem attends a news conference at the American Civil Liberties Union office in New York, July 12, 1973. AP/RICHARD DREW Gloria Steinem and Dolly Parton embodied two towering versions of the same idea: that women should know themselves well enough to make their own choices about matters intimate and societal. Their deaths eight days apart sent a double dose of grief around the world and across generations as many women (and some men!) asked who would take their places at the forefront of women’s rights. Steinem, overtly political, went undercover as a Playboy bunny to deliver an exposé, founded Ms. Magazine and spent the rest of her life urging women to support each other. Parton, on the other hand, defined herself as a larger-than-life daughter of the American South who told stories with music and included everybody — but refused to play politics or call herself a feminist. “Dolly taught us to dream big. Gloria taught us to speak up,” wrote DeMond B Nason, a New York City singer. “Both reminded us that a woman could walk into a world that told her who she was supposed to be — and simply decide to become something else.”

Animated by the same idea, even if they didn’t call it the same thing PARTON didn’t say so, but Steinem insisted more than three decades ago that the pair fit together under the same feminist flag. “If feminism means each of us finding your unique power, and helping other women do the same, Dolly Parton certainly has done both,” Steinem wrote in 1987, when Ms. Magazine named the singer one of its “Women of the Year.” Many shared the sense that Steinem and Parton belonged together. “Both believed in women: in our ability to decide who we are, make our own choices, take care of one another and shape the world around us,” wrote Swati Narayan in a column for American Kahani, an online news outlet for Indian and South Asian Americans. Between Parton’s death on Aug. 25 and Steinem’s on Sept. 2, Ms. Magazine re-ran Steinem’s essay with an editor’s note: “Steinem celebrated Parton not only as a gifted songwriter and magnetic performer, but as a shrewd businessperson who transformed femininity into a source of humor and power — and used her success to lift up working women, poor communities and the mountain people of her native Tennessee.” The embrace wasn’t mutual, at least not publicly. And that, Parton acknowledged, was by design. “I don’t do politics. I have too many fans on both sides of the fence,” she said in 2019 on “Dolly Parton’s America,” Radiolab’s podcast. “Of course,” she added, “I have my opinion about everything, but I learned years ago to keep your mouth shut about things.” The star was asked directly whether she thought of herself as a feminist.

“No, I do not,” she said flatly, later explaining that she did not want to be associated with what she viewed as political extremes even as she advocated for women and their opportunities. “I do not like extreme things,” she said. “I don’t believe in crucifying a whole group just because a few people have made mistakes. To me when you say just the word ‘feminist’ is like, ‘I hate all men.’” Parton was clear, though, that her lyrics were intended to shine light on women’s hardships and the realities of a world that the superstar agreed was dominated by men. She wrote about teenage pregnancy, abortion and adoption in “Down from Dover.” She supported equal pay (See: “9 to 5,” the movie and the song). One of her most famous songs is called, “Just Because I’m a Woman.” “People say to me, ‘Well, wasn’t it a man’s world back when you got in the business.’ I said, ‘It sure was, and honey, I had a ball,’” she said at a 2019 awards show. “I have never met a man that I didn’t like, and I’ve never met a man whose ass I couldn’t kick if he didn’t treat me with the right respect.” She just didn’t use words like “oppression” or “patriarchy.” And unlike Steinem, Parton didn’t endorse political candidates. Asked on CNN during the 2016 presidential campaign whether she preferred Republican Donald Trump or Democrat Hillary Clinton, she replied: “I think they’re both nuts.” Onstage at the 2017 Emmys, Parton demurred when fellow “9 to 5” costars Lily Tomlin and Jane Fonda took a thinly veiled shot at Trump. Parton pivoted to humor. “They’re Lily and they’re Jane and I’m Dolly,” she said later. “So they did their thing, I did mine.”

FLOWERS surround a statue of Dolly Parton in Sevierville, Tenn., Tuesday, Aug. 25, 2026. AP/CAMDEN HALL

There’s more than one torch-passer FEMINISM splintered under the pressure of public policy debates over such issues as abortion and the rejection of Clinton in the 2016 elections, the rise of Trump and the modernday emergence of identity politics. Steinem’s version of feminism today is more aligned with Democrats at a time when, at least for now, the country has swung Republican. Steinem lived to see the Supreme Court overturn the 1973 ruling Roe v. Wade, eliminating the constitutional right to abortion, a pillar of the 1960s feminist movement she embodied. The Equal Rights Amendment remains unratified. And Americans have yet to elect a woman president. So if you’re an opponent of abortion rights or if you voted for Trump, can you still be a feminist in 2026? And would you want to be called that in public or on social media? To the end, Steinem insisted it wasn’t the label that mattered. What counted as feminist was whether a woman knew herself well enough to make her own choices rather than be defined

SUNNY Holiday poses for a photo near a mural of Dolly Parton on Tuesday, Aug. 25, 2026, in Nashville, Tenn. AP/GEORGE WALKER IV as the daughter or wife of a man. But partisanship surfaced even in the ritual public mourning for the two women. Parton’s passing touched off an immediate expression of grief from sources ranging from Trump to her fans in the LGBTQ+ community. Trump ordered flags to be flown at half-staff as a show of “respect” for her. In contrast, there was no such rush to recognize Steinem beyond her liberal and centrist constituency, even from conservatives who had

expressed respect for her accomplishments as an influential historical figure. Their silence two days after Steinem’s death contrasted with the outpouring of grief, thanks and respect for Steinem from leading figures on the left, particularly of her generation. Hillary Clinton, who also saluted Parton, said Steinem’s activism was built on optimism despite abundant roadblocks for women. “The lived experience became much more real and applicable to our entire society when

Gloria began to point it out,” Clinton posted. For her part, Steinem said for years that she’s using her torch to light others. “If we each have a torch, there’s a lot more light,” she told the National Press Club in 2013. Social media offered evidence that supporters of both women would pass it on. Liz Webster, an American hair and makeup artist living in Germany, called Steinem and Parton “two very different women who shaped the way I saw what a woman could be.”

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Style

BusinessMirror

Editor: Gerard S. Ramos • Monday, September 7, 2026

This ‘Mutya’ Momentum THE MUTYA DOMINANCE

The spotlight is on P-beauty FOR years, K-beauty and J-beauty have dominated the global beauty conversation, turning Korean and Japanese skincare rituals, products, and aesthetics into worldwide phenomena. Now, the Philippines is slowly carving out its own space, with Filipino beauty aesthetics, products and techniques finding an unexpected audience overseas. As international content creators try and celebrate local beauty, Philippine beauty—or P-beauty—is emerging as more than a passing trend. It is becoming a cultural expression of its own.

ACCESSIBLE, INCLUSIVE, AND MADE FOR FILIPINOS

AT the core of P-beauty’s appeal is that beauty products should work for the people they are made for. Filipino brands have long focused on accessible prices without compromising quality, performance and inclusivity. Dr. Christine Hall, a celebrated Korean skincare doctor from the United Kingdom, believes this gives Filipino beauty a distinct opportunity. “I genuinely believe Fil-beauty is the fourth force in Asian beauty,” she said, noting that inclusive shades, accessible prices, and products that genuinely perform can be reasons for consumers to choose a brand. “The opportunity is to build that fierce domestic loyalty— and then let community, quality and word-of-mouth take Filipino beauty to the world,” Hall added. Local brands have already been building that loyalty. Ever Bilena Cosmetics Inc., for instance, has built its enduring reputation on delivering high-quality products specifically formulated to complement Filipina skin tones and suit everyday lifestyles and weather conditions. “For us at Ever Bilena, P-beauty has proven that our color cosmetics are made for every Filipina beauty, their skin tone, designed with the comfort, functionality and everyday needs of the Filipino in mind,” said chief sales and marketing officer Denice Sy. The brand now reaches consumers through more than 6,000 stores nationwide, while also expanding into markets including Singapore, Malaysia, Guam, the Middle East, Canada, and Australia.

BEAUTY SHAPED BY ADAPTATION

BEYOND accessibility, what sets P-beauty apart is its willingness to adapt to Filipino realities rather than replicate beauty ideals from elsewhere. Issy Cosmetics co-founder and chief creative officer Joel Martin Andrade described it simply: “Filipino beauty has never been about perfection. It has always been about adaptation.” That adaptation is becoming increasingly intentional. Makeup Science Asia founder Abby Ofrasio noted that local brands now consider undertones, skin depth, climate, longevity, and how products perform in tropical weather— reflecting a deeper understanding of Filipino consumers.

FROM LOCAL IDENTITY TO GLOBAL INFLUENCE

THIS shift has also changed how Filipinos perceive local beauty. Project Vanity founder Liz Lanuzo said social media creators helped give local brands something traditional advertising could not: credibility. By comparing local products with established international names, creators normalized choosing Filipino brands and made it something to be proud of. For Vice Co. co-CEO Ana Samaco, that confidence ultimately comes down to representation. “To me, P-beauty is about creating beauty through a Filipino lens, understanding our skin tones, climate and culture,” she said. “More than that, it’s about making every Filipino feel seen.” And perhaps that is P-beauty’s strongest proposition: it does not need to become the next K-beauty or J-beauty. Its growing global appeal lies in being distinctly Filipino— accessible, adaptable, inclusive and, above all, made for Filipinos.

Mutya ng Pilipinas Rizal candidates (Mutya ng Pilipinas Rizal Facebook); Eunice Deza (PHOTO BY OWEN REYES, GOWN BY LOUIS PANGILINAN); Miss

Global Universe 2026 Lyndzy Maranan (PHOTO

BY AJ LAYLO, GOWN BY CHICO ESTIVA);

HE Mutya ng Pilipinas (MNP) is the second longest-running pageant in the country, next to Binibining Pilipinas. Proud of its heritage and its beginnings, Mutya continues to be committed and focused on the search, the development, the training, the discovery, and giving opportunities to its queens to spread their wings all over the world. And, win international titles. When Mutya ng Pilipinas-Intercontinental 2025 Christina Labareño Vanhefflin of Leyte placed as the fourth runner-up at Miss Intercontinental in January 29 this year in Egypt, the momentum has been unstoppable for her fellow Mutya queens. On June 8. Mutya ng Pilipinas-Visayas Eunice Dimaculangan Deza of San Pablo, Laguna, placed second runner-up at the 32nd Top Model of the World competition, held in Hurghada, Egypt. Her triumph was followed by Mutya ng Pilipinas 2025-Luzon Lyndzy Blyss Plata Maranan of Mabini, Batangas, who won the Miss Global Universe 2026 crown, held in Singapore on July 11. After some false starts, Mutya ng PilipinasTourism International 2025 Maria Andrea Endicio of Candelaria, Quezon, is set to finally compete at Miss Polo Universe 2026 at the United Arab Emirates in mid-September.

Mutya ng Pilipinas Cebu launch with Dr. Sonie de la Cruz, Omega Chua Cantor, Cory Quirino and Atty. Kim Mendoza (PHOTO BY EZEL JOHN); Maria Andrea Endicio (PHOTO BY OWEN REYES, GOWN BY LOUIS PANGILINAN)

CORY QUIRINO: THE QUEEN-MAKER

NOT resting on her laurels, the eternally exquisite Cory Quirino, the MNP president, is calling on applicant-queens to join this year’s Mutya edition: “This is our 58th edition. And we’re leading up to a bigger, better, more beautiful, more meaningful [pageant] for us as we approach our 60th year. “We would like to spearhead always in this country. And we’d like to show it all over the world that here in the Philippines, we have a solidarity. We are friends with all the beauty pageant organizations in this country. “And we want to keep it that way. That there will always be cooperation, teamwork. And always a sense of purpose and sense of mission of promoting the Philippines, wherever we are. Wherever our titles and our crowns take us.”

NASAAN KA, MUTYA?

APPLICATIONS for Mutya ng Pilipinas 2026 are now officially open. The General Screening will be held on September 30, 2026, starting at 7 am at the CWC Design Center, 814 Antonio Arnaiz Avenue, Makati City. So, if you are a Filipina with beauty, purpose, and the passion to represent your hometown on the national stage, this is your moment. How to apply: 1. Review the applicant requirements. 2. Complete the application form through the link at the Mutya ng Pilipinas Facebook page. 3. Submit your accomplished form together with the required documents to mutyangpilipinasofficial. info@gmail.com.

MUTYA NG PILIPINAS-RIZAL 2026

ON August 30, the 10 official candidates (minus one absentee) of Mutya ng Pilipinas-Rizal 2026 were presented to members of the media at the Grand Monaco Hotel in Taytay. The winner will be crowned on September 11, and will earn the right to represent her province at the national finals. The finalists are Gwen Sigrid Cledera, Axa Nobleza, Beatrice Reyna Asuncion, Ana

Margarita Vallega, Maria Raycel Pabelenia, Amara Kalisha Salgado, Vianch Louisa Rosales, Mariel Angelyn Valler, Andrea Shane San Jose, and Jersey Flores Regalado.

LYNDZY MARANAN: WHAT DREAMS ARE MADE OF

“THERE were days when all I had were questions. Days filled with heartbreak, disappointment, silent battles, and prayers that seemed to go unanswered. Moments when I wondered if every sacrifice, every tear, and every setback would ever make sense. “This crown is more than a title. It is a testimony of God’s faithfulness. It was never won by my own strength, but by His grace that carried me when I could no longer carry myself. With immense pride and gratitude, we are blessed to bring home the firstever Miss Global Universe crown for the Philippines.”

EUNICE DEZA: ANSWERED PRAYER

“AS a pageant girl, one of our greatest dreams is to wear the Philippine sash across our hearts and bring pride and inspiration to our country. For a newcomer on the national stage, I feel incredibly blessed to have been given this opportunity. “This achievement is not mine alone. It is a shared victory with everyone who believed in me and stood by me throughout this journey. Achieving the highest placement ever earned by the Philippines at Top Model of the World fills me with immense pride. “This is more than a title—it is an answered prayer, a dream fulfilled, and a reminder that with faith, hard work, and the support of those who believe in us, anything is possible.”

MUTYA NG PILIPINAS-CEBU: A CROWN WITH A PURPOSE

CORPORATE executive, philanthropist, media

personality, and advocate for women’s empowerment Sonie de la Cruz is bringing the Mutya ng Pilipinas platform to Cebu. “Becoming the franchisee of Mutya ng PilipinasCebu is not simply about organizing a pageant. It is about creating opportunities for Cebuana women—giving them a platform where they can be recognized not only for their beauty, but also for their intelligence, character, confidence, leadership and purpose,” said the president and CEO of Food Beverage International at the media launch at Seda Residences in Makati City. The pageant, set at the end of September, will showcase Cebu’s rich culture, people, tourism, and vibrant communities. “A crown may last for a year, but the confidence you give a woman, the opportunities you create for her, and the lives she touches can last a lifetime,” De la Cruz concluded.

MARIA ANDREA ENDICIO: THE NEXT MISS POLO UNIVERSE

THIS dusky, statuesque courtside reporter has that winning mindset: “I am confident when I say that for the past few years, I was the embodiment of the word perseverance. I faced so many ups and downs, but none of them ever blurred my vision. I continued to push through for what I truly believed in. “And for a relatively new pageant like Miss Polo Universe, I truly believe that they deserve a queen who knows how to stand, and knows how to remain standing in the face of adversities. I have proven myself to all of you that I am going to push forward no matter what happens. I have the heart to fight for what I believe in. “The kind of heart that truly deserves the Miss Polo Universe 2026.”

McCoy de Leon talks about being confident

SHOWBUSINESS requires all its artists to always look flawless with clear skin, good physique, and polished appearance. No one is told this. It’s just assumed. Kutis By Kei’s “Bare. Nothing to Hide” campaign advocates for self-care and confidence through simple, science-backed treatments and actor McCoy de Leon is here for it. McCoy admits that when he was just starting in showbusiness, he felt some pressure to fit into a certain mold.

This is even though he comes from a family with a theater background. “There’s still pressure, but I use that pressure as a learning experience so I can learn more from every project I do in the industry,” he said. McCoy said being a father has made him understand confidence, as he sees taking care of himself physically and mentally as essential to fulfilling his responsibilities to the people he loves, especially his daughter. “I think that’s the meaning of confidence for me, being able to take care of yourself so you can also properly take care of the people who are important to you,” said McCoy. As part of being confident, McCoy has also learned to accept the physical changes that come with age. He now sees skincare and grooming solely as not just requirements of his profession but part of feeling comfortable in his own skin. “Taking care of my body and my skin is also a reflection of my mindset in life,” he said. “It’s no longer just about looking good for other people but also about feeling good and taking care of yourself.” His family helps keep him grounded amid the pressures of

being in the public eye. McCoy believes men face a particular challenge when dealing with insecurities. “Men are usually more silent when it comes to their insecurities,” he said, “Because for men, it seems more expected that you always have to be tough and strong on the outside.” Kutis By Kei founder and chief executive officer Dr. Kei George Rebolledo said the “Bare. Nothing to Hide” campaign encourages people to embrace healthy skin and feel confident without relying on filters or heavy makeup. “‘Bare. Nothing to Hide’ is about being comfortable in your own skin. You don’t have to hide every imperfection to feel beautiful or confident,” said Rebolledo. “Taking care of yourself is not a weakness. I think it actually helps you become more confident and comfortable with who you really are,” said McCoy. Learn more about the “Bare. Nothing to Hide” campaign by following Kutis By Kei on Instagram, Facebook, or TikTok; or calling 0949-7520660. You may also visit Kutis By Kei clinics in Quezon City, Mandaluyong, Makati or Parañaque.

KUTIS by Kei ambassadors McCoy de Leon and Charlie Dizon with Kutis By Kei founder and chief executive officer Dr. Kei George Rebolledo PHOTO FROM KUTIS BY KEI

Monday, September 7, 2026

22nd Philippine Quill Awards, 12th Philippine Student Quill Awards honor excellence in communication

he 22nd Philippine Quill Awards and the 12th Philippine Student Quill Awards recognized outstanding communication work, organizations, and emerging communicators, highlighting the breadth of communication excellence across the professional and academic communities.

The Philippine Quill Awards recognized work that demonstrated excellence in communication management, research, training and education, and communications skills, while also recognizing sustainability communications and breakthroughs and innovations as a new area of practice. “Tonight, we celebrate the very best of Philippine communication. The Quill matters because it recognizes the power of communication not only to inform or influence, but to move people, spark a feeling, and create meaningful change. I am especially proud when the stories we tell celebrate who we are as Filipinos—our identity, our values, and our communities. At its best, communication gives those stories the power to be heard, felt, and remembered,” said Marzie Marzan, Chair of the 22nd Philippine Quill Awards. The Top Division Award for Communication Management went to “PINAG-UUSAPAN: Earning National Media Coverage and Third-Party Credibility for Filipino Cuisine,” by PAGEONE, Advocacy Partners Asia and simpol.ph. The program used media relations and thirdparty credibility to build national attention around Filipino cuisine. For Communication Research, the Top Division Award went to “The Infrastructure of Legitimacy: A Definitive National Study Reframing Reputation as Measurable Capital,” by PAGEONE and Advocacy Partners Asia. The national study examines reputation as a

De La Salle College of St. Benilde was named School of the Year at the 12th Philippine Student Quill Awards. measurable form of capital and offers a new perspective on organizational legitimacy. The Top Division Award for Communication Training and Education went to InLife University, recognizing its approach to building capability through learning and development. For Communications Skills, the Top Division Award went to “World of Flavors: A Culinary Journey Through Taste, Culture, and Shared Discovery,” by Megaworld Lifestyle Malls, which uses food, culture, and visual storytelling to engage audiences. The 12th Philippine Student Quill Awards recognized the quality and creativity of communication work produced by students, including work that applies emerging technologies and storytelling approaches to issues that matter to communities. The Top Division Award for Sustainability Communications and Breakthroughs and Innovations went to “ST:AIN: An Interactive Game-Based Communication Tool for Youth Solid Waste Management Awareness,” by CIIT College of Arts and Technology. Through interactive storytelling and gamification, the project turns waste management education into an engaging experience designed to help young audiences better understand and practice proper waste segregation. The Top Student Quill Award went to “Sining sa Lansangan” by the University of Santo Tomas – Angelicum College. Through documentary storytelling, the project celebrates the resilience and creativity of jeepney artists, presenting the iconic jeepney as a moving canvas of Filipino identity, history, and culture. The Student Quill also named De La Salle–

College of Saint Benilde 2026 School of the Year, recognizing the institution’s contribution to developing the country’s next generation of communication professionals. For Richard Arboleda, President of IABC Philippines, the two Quill programs reflect both the evolution of the profession and the pipeline of talent entering it. “Communication is being asked to do more than communicate. It is increasingly expected to help organizations navigate trust, reputation, behavior, and business outcomes. What we are recognizing tonight is work that takes that responsibility seriously. These are not just good communication outputs. They show what happens when communication is treated as a strategic discipline.” The Philippine Quill Awards also named its 2026 institutional honorees. PLDT and Smart were named Company of the Year, while PAGEONE was named Agency of the Year. Together, the two award programs recognize the current practice and future of communication in the Philippines, from strategic reputation-building and research to creative storytelling, organizational learning, sustainability, and student-led innovation. The Philippine Quill Awards and Philippine Student Quill Awards are organized by the International Association of Business Communicators (IABC) Philippines. The event was made possible through the support of Gold Sponsor Development Bank of the Philippines (DBP); Silver Sponsor Land Bank of the Philippines; and Bronze Sponsors BDO Unibank, Inc. and MERALCO.

NephroPlus expands footprint to 8 centers across Visayas, Mindanao; opens new Greenfield Center in QC

NephroPlus Philippines’ new center in Quezon City is located inside Villarosa Hospital Center.

EPHROPLUS Philippines, Inc. continues to expand access to quality dialysis care with the opening of three new dialysis centers – two in the Visayas and Mindanao and one in Quezon City. This brings its nationwide total to 53, including eight outside Luzon. The expansion forms part of NephroPlus’ strategic efforts to bring safe, accessible, and patientcentered hemodialysis services in both established

urban areas and underserved communities, where many patients with chronic kidney disease (CKD) face challenges accessing regular treatment. For patients undergoing regular hemodialysis, having a facility closer to home can reduce the physical, financial, and emotional burden of frequent travel. Through its growing network and partnerships, NephroPlus is bringing reliable dialysis care closer to patients while helping address local healthcare needs. The newly opened centers are located in Abuyog, Leyte, in the Visayas, and Davao City, in Mindanao. Other centers are located in Cadiz City and Bacolod City, Negros Occidental; Calapan, Oriental Mindoro; Ipil, Zamboanga Sibugay; Cagayan de Oro; and Zamboanga City. With eight centers now serving patients across these regions, the expansion strengthens NephroPlus’ ability to address the growing need for reliable dialysis care and bring treatment closer to patient’s homes and communities. In Metro Manila, NephroPlus has also opened a new dialysis center at Villarosa Hospital in Quezon City. The hospital-based facility gives patients in the city and nearby communities greater access to hemodialysis service.

As NephroPlus grows its footprint, the organization remains committed to maintaining consistent standards of clinical care across its centers. Through standardized protocols, continuous training of healthcare professionals, and a patient-centered approach, NephroPlus seeks to ensure that patients receive safe and reliable dialysis services regardless of where they receive treatment. “Every new center is a reflection of our commitment to making quality dialysis care more accessible to Filipino patients,” said Gowtham Arumugam, Country Head of NephroPlus. “Our expansion across the Visayas and Mindanao, together with the opening of our Villarosa Hospital center in Quezon City, allows us to reach more communities and support more patients in their continuing journey with kidney disease.” For NephroPlus, expansion is not simply about opening more facilities. It is about creating greater access to quality care, strengthening local healthcare partnerships, and helping patients with kidney disease live fuller lives with the support they need. As the organization continues to grow, NephroPlus remains focused on one goal: bringing quality dialysis care closer to every Filipino patient who needs it.

The Lind Hotels set to open Its next chapter in Coron, Palawan

HE Lind Hotels is set to open The Lind Coron in 2027, marking the homegrown Filipino hospitality brand’s expansion into Palawan and a return to the destination where its story first began. More than a decade ago, Coron was the company’s first property acquisition and the place where the idea for The Lind Hotels began to take shape. The company later chose Boracay, then a more established tourism destination, to introduce the brand before returning to its original plans for Coron. The decision gave The Lind Hotels a strong foundation for growth. Over the past decade, The Lind Boracay has become an internationally recognized hotel, earning several accolades and becoming the first hotel in Boracay to be included in the MICHELIN Guide. The opening of The Lind Coron now brings the brand back to where its journey started. “We have always believed in pioneering rather than following,” said Pierre Henrichs, Chief Operating Officer of The Lind Hotels. “Coron offers a rare combination of natural beauty and untapped potential. Our goal is not only to be part of its growth, but to help shape its future by bringing a new standard of hospitality to the destination.” Surrounded by limestone formations, clear turquoise waters, hidden lagoons and rich marine life, The Lind Coron will give guests the freedom to experience the destination at their own pace, whether exploring the islands or spending a quiet day at the resort. The resort will feature 91 rooms and villas designed for privacy, comfort and time together. Private villas will have their own dipping pools for slow afternoons, along with a dedicated Villa Host providing thoughtful, personalized service throughout the stay. The Lind Coron will also be a culinary destination, with Yím, its signature modern Thai restaurant, and Crust, set at the heart of the Main House by the infinity pool. With sweeping sea views and a mix of indoor and outdoor seating, Crust will be a natural gathering place throughout the day, serving Mediterranean flavors alongside a selection of locally crafted beverages. For time away from the day’s adventures, The Lind Coron brings the Philippines’ premier name in relaxation to Palawan with the opening of The Spa Wellness Coron. As the country’s first spa brand to earn Superbrand status, it offers guests a serene retreat to recharge through

HERE’S something undeniably comforting about the rainy season. A warm bowl of lugaw, a steaming cup of coffee, crispy merienda, and the perfect excuse to stay indoors; it’s weather that invites

us to slow down and indulge. But while we’re embracing these little comforts, our gut may be facing a different reality. Heavy rains, flooding, and increased humidity can raise the risk of food and water contamination, creating conditions that

award-winning holistic care in one of the nation’s most breathtaking destinations. The resort will also have its own dive center, operated by one of the Philippines’ diving pioneers, with experience working with some of the country’s leading hospitality brands. Guests can spend their days island-hopping, discovering hidden lagoons or diving among vibrant reefs. World War II shipwrecks just in front of the property bring one of Coron’s most distinctive underwater experiences within easy reach. Indoor and outdoor spaces will make the most of the natural surroundings for celebrations, events and meetings. The Gallery, an indoor venue for up to 200 guests, will offer panoramic sea views, while The Cove brings gatherings outdoors. At the resort’s highest point, the Roof Deck opens to 360-degree views of the sea, mountains and lush greenery, creating a memorable setting for wedding ceremonies, proposals and special occasions. “We aim to create a resort that belongs in its setting rather than competes with it,” added Henrichs. “We want guests to experience the beauty, authenticity and adventure of Coron while enjoying the hospitality and service they have come to associate with The Lind Hotels.” For The Lind Hotels, the opening of The Lind Coron brings a vision more than a decade in the making full circle. Coron was where the idea for the brand first took shape, and in 2027, it will finally become home to The Lind, continuing its journey of Crafting Experiences, Creating Memories in a destination that has always been part of its story.

Gather above at Sheraton Manila Bay

HE Twenty-First Ballroom launched last February 2026 at Sheraton Manila Bay offers a distinguished, column-free venue where contemporary elegance meets exceptional functionality. Featuring soaring ceilings, refined interiors, and a versatile layout, the ballroom provides an inviting setting for weddings, milestone celebrations, social gatherings, and corporate events. Designed to comfortably accommodate 120 to 150 guests, the space creates an atmosphere that feels both intimate and grand, allowing every occasion to unfold effortlessly. Thoughtfully equipped with advanced audio visual technology and supported by a dedicated events team, the ballroom is tailored to meet the unique requirements of each gathering. From seamless presentations and impactful brand events, to beautifully curated celebrations, every detail is carefully managed with Sheraton’s renowned hospitality and attention to service. Complemented by personalized event planning, exceptional culinary offerings and a commitment to create memorable experiences, the Twenty First Ballroom provides the ideal backdrop for meaningful moments and successful occasions alike. Inspire something exceptional. Connect with Sheraton Manila Bay to begin planning your occasion.

Tag-ulan na, pero kamusta ang tiyan: Why rainy days change your body’s signals make digestive illnesses more common. “Studies have linked periods of heavy rainfall and flooding with increased cases of diarrheal diseases and foodborne infections, making gut health an often-overlooked part of staying well during the season,” said Rica Mateo, Erceflora ASEA Zone Brand Lead. The Philippine National Nutrition Council likewise reminds Filipinos that rainy months are associated with a higher risk of waterborne diseases such as diarrhea, cholera, and typhoid fever, underscoring the importance of food safety and proper hygiene during this time. The rainy season doesn’t just increase environmental health risks; it also influences our eating habits. Comfort foods, fried snacks, irregular meals, and street food indulgences can put added stress on the digestive system, especially when food safety risks are heightened. Since a large portion of the body’s immune system resides in the gut, maintaining a healthy balance of beneficial bacteria is essential for supporting overall immunity. When this balance is disrupted by poor diet or exposure to contaminated food and water, the risk of digestive issues increases, making gut health an

The Lind Coron aerial shot

important priority throughout the rainy season. Your gut is often one of the first parts of your body to tell you when something isn’t right. Research from the US National Institutes of Health cites frequent stomach discomfort, loose stools, bloating, changes in bowel movements, and mild abdominal cramps as common symptoms that may indicate an underlying digestive issue or an imbalance in the gut that should not be ignored. “Our bodies often give us early warning signs when something isn’t right, and it’s important not to ignore them, especially during the rainy season,” Mateo added. “Persistent stomach discomfort, bloating, loose stools, or changes in bowel habits may signal that your gut needs attention. Addressing these symptoms early through proper hydration, good food hygiene, and appropriate care can help prevent more serious digestive issues.” Beyond practicing good hygiene, drinking safe water, and eating well, you can give your gut an extra layer of support during the rainy season through probiotics. Probiotics are beneficial microorganisms that help restore and maintain the natural balance of good bacteria in the gut, supporting healthy digestion and the body’s

Twenty First Ballroom

Twenty First Boardroom

The Terrace natural defenses—especially when that balance is disrupted by changes in diet, illness, or exposure to contaminated food and water. Probiotics such as Erceflora Probiotics contain billions of INTELLI-SPORES® and are for all ages above six months old. It aids in the enhancement of natural resistance to intestinal infections, the enhancement of intestinal ecology, the improvement of digestion, and the improvement of lactose malabsorption with proper diet and exercise, making it a helpful addition to everyday gut care, especially during the rainy season. Rainy days are meant to be enjoyed—from sharing comforting meals with loved ones to embracing the slower pace of the season. By listening to your body’s signals, practicing good hygiene, making mindful food choices, and giving your gut the support it needs, you can better protect your digestive health and make the most of everything the tag-ulan has to offer. “Rainy weather shouldn’t keep Filipinos from enjoying the season; it should simply remind us to be more intentional about caring for our health,” Mateo concluded. “Small, proactive habits, from choosing safe food and water to supporting gut health with probiotics like Erceflora, can go a long way in helping keep our digestive system resilient. After all, a healthy gut is the foundation for enjoying life’s everyday moments, rain or shine.”

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Monday, September 7, 2026 B7

THROUGH THEIR EYES: INTERVIEWS ON THE PHILIPPINE EXPERIENCE munication approach will not work equally well everywhere.”

For consumers and stakeholders, how do you think AI will affect perception and decision-making?

Part 1: John Ng

INGAPORE and the Philippines have always been partners. With 57 years of diplomatic relations, we are old friends, and this relationship is more critical than ever with Asean integration now part and parcel of our economic existence. But more than that, Singapore and the Philippines have shared cultures and experiences, hence it is easy for people of both countries to live and work together harmoniously. It is no secret that Singaporean companies and professionals have long been coming to the Philippines (and Filipinos going to Singapore) to collaborate and shape our creative and business landscapes, and exchange best practices and knowledge. And then there’s Filipino martial arts, where I found two creative professionals from Singapore who are regional experts and have done and continue to do work in the Philippines, who are passionate practitioners. Rather than keep our coffee conversations to myself, I thought of sharing them with our PR Matters readership, because it is in spreading knowledge that we can open our minds to new things and our eyes to better ways of working. Seeing these two do a “sport” that I had admittedly only done as part of a Physical Education requirement, with the wholeheartedness that they do made me realize why they work so well in the Philippine setting. They respect our heritage, our history, and because of this, they understand our context. And that has made all the difference.

John Ng Author, Lead The New Asia Head of Agency, Skyscanner Tell me about yourself and your work “I’m the APAC head of agency at Skyscanner where I lead and shape agency business strategy and commercial partnerships across Asia Pacific for one of the world’s largest travel platforms. My work sits between media, travel behavior and business development. I work with agencies and advertisers across Asia-Pacific to develop campaigns, negotiate partnerships, interpret performance data and build longer-term commercial relationships. That includes brands in travel, hospitality, tourism, financial services, payments and adjacent categories. Before my current role, I spent over 20 years in both creative and media agencies—15 of which in leadership positions. I also spent 4 years as a marketer in the consumer banking sector.”

What exposure have you had with the Philippine market? “I was first exposed to the market in the Philippines 18 years ago. My work with brands has primarily been through regional campaign planning, involving domestic agency relationships and audience planning. I have worked with campaigns where the Philippines is either a target market, an origin market or part of a broader Southeast Asian strategy.

JOHN doing what he loves—traveling and getting to know the world That has given me exposure to Filipino consumer behavior—their media consumption habits, dynamics with brands and the challenges of communicating across a market that is digitally sophisticated but commercially diverse. The Philippines is also important from a travel perspective because it has a large, young and highly connected population, strong overseas and regional travel links, and a consumer culture where recommendations, social content and family influence can play a significant role in decision-making.”

What work have you found to be the most fruitful or exciting in the Philippine context? “The most exciting work is where travel is connected to a broader emotional or cultural motivation rather than presented as a purely transactional product. Filipino consumers often travel for several overlapping reasons: family visits, celebrations, education, work, shopping, entertainment and leisure. That creates opportunities for brands to build campaigns around the occasion or life moment, rather than simply promoting a destination or price. I also find campaigns that combine content, data and performance media particularly fruitful. Travel intent can help identify people who are already considering a trip, while good creativity gives them a reason to engage. When those two elements work together, the campaign feels more relevant and has a stronger chance of influencing action. The market is also exciting because audiences are highly responsive to social proof, creators, personal recommendations and culturally relevant storytelling. Brands that understand those behaviors can create communication that feels much more local and persuasive.”

What work have you found to be the most difficult or off-putting in the Philippines context? “The difficult part is usually not the market or the people; it is the complexity of executing consistently across the market. There can be significant differences between Metro Manila and the rest of the country, between urban and regional audiences, and between consumers with different levels of purchasing power and connectivity. A strategy that works in one audience segment may not automatically scale nationwide. Measurement can also be challenging. Campaigns may involve several agencies, platforms and data sources, each using different definitions of reach, engagement, landing or conversion. It is important to establish the measurement framework before the campaign begins, rather

than trying to reconcile different numbers at the end. There can also be pressure to prioritize short-term efficiency, such as clicks or cost, even when the campaign objective is actually awareness, consideration or brand building. The most difficult conversations are often about balancing immediate performance with the longer-term value of building demand.”

What do you think makes the Philippines competitive in terms of Singapore and Asean? “Singapore’s strengths are its infrastructure, commercial maturity, regional connectivity, regulatory environment and role as a headquarters market. The Philippines competes differently. The Philippines has several important advantages: a large and relatively young population, strong English-language capability and cultural fluency with global brands, a deep creative, customer-service and business-process talent base, high social and mobile engagement, strong links to the Filipino diaspora and overseas employment markets, a large domestic consumer market with significant room for digital and travel growth and competitive operating costs relative to Singapore. The Philippines is not simply a lower-cost version of Singapore. Its strength is its combination of scale, creativity, cultural influence and digitally engaged consumers. Singapore may often be the regional control centre, but the Philippines can be a major growth, talent and consumer market in its own right.”

Do you believe the Philippines and similar Asean markets need to adapt to AI sooner rather than later? “Yes, but adaptation should mean building capability and safeguards, not adopting AI indiscriminately. AI will increasingly affect how consumers search, compare, create, buy and communicate. Businesses that delay learning how AI works may eventually find that competitors are faster at producing content, understanding customers and responding to market changes. At the same time, Asean markets need to adapt in a way that reflects their own realities: uneven digital infrastructure, different regulatory environments, multiple languages, varying levels of data maturity and concerns around trust and employment. The Asean Guide on AI Governance and Ethics provides a useful regional foundation, while Singapore’s AI governance work shows the importance of combining innovation with accountability. The priority should be responsible experimentation, workforce training, data protection and clear human oversight.”

How do you think AI will change branding and communications in the region in the short term, over the next two to five years? “I expect five major changes. First, content production will become much faster. Brands will be able to create more versions of an advertisement, article or social post for different markets, audiences and moments. Second, personalization will become more sophisticated. Instead of communicating only by country or age group, brands will increasingly respond to context, intent, behavior and timing. Third, search and discovery will change. Consumers may rely more on AI assistants to compare products, prices and recommendations. Brands will therefore need to ensure they are discoverable not only on traditional search engines and social platforms, but also within AI-generated answers. Fourth, the distinction between media, content and commerce will continue to blur. A person may discover an idea through content, ask an AI assistant for options and complete a transaction within the same journey. Finally, the value of distinctive brand assets will increase. If every company can generate competent content quickly, the brands that stand out will be those with a clear point of view, recognizable identity and credible human connection.”

What challenges do you think the region will face in adapting AI in its business ecosystems? “The first challenge is uneven readiness. Large companies may have data teams, technology budgets and governance structures, while smaller businesses may struggle to access the same capabilities. The second is data quality and integration. AI is only as useful as the information available to it. Many businesses still operate with fragmented systems, inconsistent customer data and limited visibility across channels. The third is trust. Businesses and consumers will need confidence that AI is not producing misleading content, violating privacy or making decisions unfairly. AI slop is becoming a big issue with an obvious impact on (dis)trust when consuming content on social media. The fourth is workforce transition. AI may automate some tasks, but employees will need to develop new skills in judgement, prompting, verification, strategy and relationship management. There is also a regional complexity: Asean is not one market. Different countries have different languages, policies, infrastructure, income levels and cultural expectations. A single AI model or com-

“AI will make decision-making more convenient, but not necessarily more independent. Consumers may receive faster recommendations and more personalized choices, but those recommendations will still be shaped by the data, commercial relationships and assumptions built into the system. That means consumers may not always know why one brand or destination has been recommended over another. People will also become more skeptical of what they see. As synthetic images, videos, reviews and testimonials become easier to produce, authenticity will become more valuable. Consumers may rely more heavily on trusted communities, creators, friends, family, verified reviews and recognizable brands. For stakeholders, transparency will become essential. They will want to understand whether content is AI-generated, how data is being used and whether an automated recommendation is genuinely relevant or simply commercially optimised. As leaders, we may soon find ourselves competing for clients’ trust despite our experiences and expertise. I have personally experienced an interesting situation where my recommendation to a client was only approved once ChatGPT “verified” my proposal.”

What do you think branding and communications will look like in the Philippines and Asean in a decade? “In 10 years, branding will be more dynamic, personalized and conversational. Consumers may interact with brands through AI assistants, voice, immersive environments and integrated commerce platforms rather than through a traditional sequence of advertisement, website and purchase. However, the strongest brands will still be built on familiar foundations: trust, consistency, cultural understanding and emotional relevance. In the Philippines and Asean, localization will become even more important. Brands will need to understand not only national markets, but also different cities, languages, communities, income groups, family structures and cultural occasions. I expect the most successful companies to combine three capabilities: the efficiency and intelligence of AI, the creativity and cultural sensitivity of local teams, and the trust and distinctiveness of a strong brand. AI will change how brands communicate, but it will not remove the need to understand people. In a region as diverse as Asean, the winning advantage will belong to organizations that use technology to become more humanly relevant, not simply more automated.” PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (IPRA), the world’s premier association for senior professionals around the world. Margarita Locsin-Chan is the President of Philippine Chamber of Commerce in Singapore. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com. For more insights and updates on public relations, follow PR Matters by IPRA Philippines on Tiktok, Youtube, Instagram and Facebook.

Monday, September 7, 2026

www.businessmirror.com.ph

NDRRMC: Death toll of storms, habagat climbs to 43

By Jonathan L. Mayuga

@jonlmayuga

HE casualty count attributed to storms Luis, Maymay, Neneng and Pilandok, and the southwest monsoon continues to climb. The National Disaster Risk Reduction and Management Council (NDRRMC) said the latest figure, as of 5:00 p.m. on Sunday, since the nonstop rain started on August 1, has climbed to 43 dead, 20 injured, and five missing. While Pilandok is already outside the

Philippine Area of Responsibility (PAR), the southwest monsoon, locally known as habagat, continues to threaten Luzon with intermittent rains that threaten to trigger flash floods, landslides, and cause more flooding in low-lying areas, the Philippine Atmospheric, Geophysical and Astronomical

Services Administration (Pagasa) said. The state weather bureau said moderate rain of 50 to 100 mm is forecasted over Zambales, Bataan, and Occidental Mindoro, until September 9. Cavite and Batangas are also expected to experience moderate rain from September 7 to 9. The southwest monsoon, a weather system that usually begins between late May to early June, brings warm, humid air, frequent heavy rainfall, and southwesterly winds, primarily affecting the western parts of the country like Metro Manila, Zambales, and Palawan. It usually wraps up or ends between late September and the second week of October. Because of the nonstop rain, the floodaffected population grew to 2.9 million

families or 10.2 million people in 697 barangays. As flooding subsides in some areas, some families have started to return home. A total of 18,100 families or 62,300 people remain in 807 different evacuation centers. According to the NDRRMC, a total of 552 areas remain flooded. At least 180 cities and towns remain under a state of calamity. The landslides and flooding have damaged 4,467 houses. Meanwhile, the NDRRMC said damage to public and private infrastructure has now reached P7.79 billion, while damage to crops has now reached P4.4 billion. The government said the cost of assistance provided to affected families has reached P2.59 billion.

Natl framework for drone devt pushed T O bolster national defense, enhance disaster response capabilities, advance agricultural productivity, and promote public safety, a deputy majority leader at the House of Representatives on Sunday urged the 20th Congress to take the lead in accelerating the country’s drone development initiatives by passing legislation that will establish a national framework for building a Philippine-made unmanned aerial systems (UAS) capability. Deputy Majority Leader Vincenzo Renato Luis Villafuerte said Congress can provide

the needed policy support and funding to transform ongoing drone initiatives of the Armed Forces (AFP), Department of Agriculture (DA), and other government agencies into a sustainable national program that will strengthen defense, disaster response, agricultural productivity, and public safety. “I am hoping the 20th Congress can help accelerate these positive steps of the AFP and the DA by passing a new law setting aside an initial P10 billion for acquiring and later on building our own UAS not only for fighting terrorism, insurgency and other

crimes, but also for advancing disaster response, environmental protection, border patrol and search-and-rescue missions, and boosting food security,” Villafuerte added. He cited the need for lawmakers to pass measures that would support local research and development, encourage partnerships with universities and technology companies, and reduce long-term dependence on foreign-made drone systems. Villafuerte has authored House Bill 1362, or the proposed National Defense Drone Act, which seeks the establishment

of the Philippine Unmanned Aerial System Program (Puasp) and the Strategic Defense Technology Transfer Program (SDTTP). The measure proposes an initial P10 billion allocation for the acquisition of surveillance, reconnaissance, combat, disaster-response, and medical evacuation drones, while supporting research and development efforts aimed at creating a local UAS ecosystem. The lawmaker’s push comes as government agencies have begun integrating drone technology into their operations. Jovee Marie N. dela Cruz

Erwin Tulfo: Infra masterplan needed By Butch Fernandez @butchfBM

S the Senate gears up for its own plenary deliberations on the 2027 national budget, the BlueRibbon committee chairman, Sen. Erwin Tulfo, pushed anew for an infrastructure masterplan to curb unfinished, substandard public works. Tulfo reiterated his call for the passage of the “Masterplan for Infrastructure and National Development [MIND] Act” which seeks to create an exhaustive, interconnected national infrastructure plan across the country. The bill is currently pending before the Senate Committee on Economic Affairs. “The continued heavy rains exposed substandard public works such as bridges and roads. There are even unfinished projects because the initial phases were funded while the subsequent phases were left hanging,” Tulfo said. “We are spending taxpayers’ money on these unfinished projects only to yield zero benefit from them—all these because of fundamental lack of planning,” he added. Tulfo emphasized that the MIND Act gains heightened urgency as the Upper Chamber begins deliberations on the

proposed 2027 National Budget. “We have to triple our efforts to identify and complete hanging projects. And any projects which are about to start must be synchronized with the development plans down to the local level,” added Tulfo. He added:“Infrastructure projects should stand the test of time, extreme weather, and even changing political climates. They must remain functional regardless of who is in power.” Tulfo had earlier vowed to formally investigate substandard projects revealed by continuous raining and flooding in the past months. The national debate over the gigantic mess caused by the plunder of trillions in flood control funds, has continued after one year because the seasonal heavy rains from the southwest monsoon, combined with serial typhoons, have spawned more unprecedented levels of flooding. The past year’s explosive revelations on the flood control fund mess had driven the Department of Public Works and Highways—many of whose officials were entangled in corruption allegations—to tighten the validation process for public infrastructure, leading in turn to a drastic slowdown in government spending that has been blamed for the sharp decline in economic growth since late 2025.

PHILTOA President Malou Japson: The future of tourism is about connection and meaningful experiences

answered directly by representatives,” Japson said. Visitors also availed themselves of exclusive airline, hotel, and tour discounts, while PTM partner EastWest Bank offered zero-interest payment terms for packages ranging from three to 24 months. Emerging destinations such as Quezon and Misamis Occidental were also placed in the spotlight, with the latter promoted as the “Maldives of Mindanao.” “It’s about time for us to explore new ones,” Japson said. “Discover your Philippines; do not just concentrate on the ones that are already known, but also those that are lesser known as well.”

By Francine M. Marquez

or today’s travelers, seeing a destination is no longer enough. They want to know its stories, taste its food, meet its people, and experience the culture that makes a place unique.

The post-pandemic traveler has returned with a renewed appetite for discovery, but with different expectations. Journeys are increasingly about meaningful experiences rather than simply checking destinations off a list. For tourism stakeholders, this presents both an opportunity and a challenge. As travelers become more discerning about how they spend their time and money, the industry must find new ways to make every journey more relevant, personal, and memorable. Maria Lourdes Flor “Malou” Japson, president of the Philippine Tours and Operators Association (PHILTOA), believes this evolution is already reshaping Philippine tourism. In a recent episode of BusinessMirror’s weekly podcast “Freshly Brewed,” Japson sat down with host Bless Ogerio, BusinessMirror Trade and Industry reporter, to discuss the changes taking place in the industry and what lies ahead for Philippine tourism. An educator by training, Japson has been in the travel business for more than two decades. She is president and CEO of Strikers Travel Corp. and Philippine country representative of AirAsia MOVE. She has also held leadership positions in business organizations, including the Philippine Chamber of Commerce and Industry (PCCI) of Cavite. Her experience also includes government service, having served as Assistant Secretary of the Department of Tourism from 2016 to 2018. Moving between the public and private sectors has given

her a broader perspective on what it takes to move tourism forward. “I always believed that policies should come from government, but execution should be from the private sector. This should be something that we should marry and complement,” she said.

The human face of tourism

An industry built to adapt

TOURISM has faced extraordinary challenges in recent years, from the pandemic to the current global oil crisis. Yet Japson believes the industry’s ability to adapt remains one of its greatest strengths. Tourism contributed 8.1 percent to the country’s GDP in 2025, underscoring its continued importance to the Philippine economy. “The tourism industry is very resilient,” she said. For Japson, resilience also means staying ahead of change. Even before the pandemic, the industry was already preparing for the technological shifts associated with the so-called Fourth Industrial Revolution. “That’s why we keep innovating; otherwise, we wouldn’t be relevant anymore,” she said. “PHILTOA is always looking through the lens of innovating our operations.” But innovation is not only about technology. It is also about understanding what travelers now want.

From sightseeing to meaningful travel

BEFORE the pandemic, do-it-yourself travel was

Maria Lourdes Japson, President of the Philippine Tour Operators Association, talks about how Filipinos have changed the way they travel with Bless Ogerio, BusinessMirror's Trade and Industry reporter. particularly popular among budget-conscious travelers who booked their own hotels and tours. Today, more travelers are turning to tour operators for curated experiences, convenience, and local knowledge. The change reflects a deeper shift in the way people travel. “Travelers today don’t just want to roam around in a destination. They want interactive and experiential travel,” Japson said. “They want a more valuable experience that is not just sightseeing but engaging with the community.” PHILTOA’s LakBayanihan Caravan is one example of how the organization is creating opportunities for Filipinos to explore local destinations through traditional and affordable bus travel. The initiative has encouraged tours to destinations including Boracay, La Union, Quezon, and Batangas. Another initiative, volunTOURism, takes the concept of meaningful travel a step further. Last month, PHILTOA and the Tourism Promotions Board Philippines (TPB) signed a memorandum of understanding to formalize volunTOURism as a niche tourism product, incorporating corporate social responsibility activities into travel experiences. For the MICE market, Japson sees the campaign as a way of giving business travel a deeper purpose. “The volunTOURism campaign makes travel more valuable and meaningful,” she said.

What comes next

Maria Lourdes Japson, President of the Philippine Tour Operators Association

Bless Ogerio, BusinessMirror's Trade and Industry reporter

FOR Japson, “next generation tourism” is not simply about younger travelers or Gen Z. It is about the industry’s ability to respond to technological change, evolving consumer expectations, and the challenges facing destinations. That vision was reflected in the theme of this year’s Philippine Travel Mart: “Nurturing the Next Gen

Tourism, Discover your Philippines.” The theme was part of a continuing campaign that began in 2024 with “Love the Next Gen Tourism” and continued in 2025 with “Boosting Next Gen Tourism.” This year’s focus was on nurturing sustainable industry growth through four interconnected pillars: sustainability, inclusivity, health and wellness, and digitalization. Inclusivity means ensuring that tourism is for everybody. Sustainability means managing the carrying capacity of destinations. Digitalization allows the industry to keep pace with technological innovation, while health and wellness reflect the growing demand for activities that promote holistic well-being. Yet even as technology becomes more important, Japson believes human connection remains central to the travel experience.

Building the tourism ecosystem

THE future of tourism also depends on strengthening the people and businesses that make up the industry. Through its 4Ps Program—Participation, Partnership, Professionalism, and Profitability— PHILTOA provides members with seminars, training, familiarization trips, and opportunities to work with local government units and the private sector. In March, the organization signed a memorandum of understanding with the Technical Education and Skills Development Authority (TESDA), combining PHILTOA’s industry expertise with TESDA’s national training standards to strengthen the skills of tour operators and travel agents. PHILTOA also participates in policy consultations with the Department of Tourism, Congress, and the Senate, bringing industry perspectives into discussions on tourism policies and development.

For Japson, however, the tourism ecosystem extends far beyond the major players. It includes the smallest businesses, communities, and destinations that form part of the tourism value chain.

Helping new destinations shine

EMERGING destinations, in particular, represent an opportunity to spread tourism benefits beyond the country’s established hotspots. “I always believe that an emerging destination shines whenever it is helped,” Japson said. She cited Boracay as an example. Thirty years ago, the island was not yet the internationally recognized destination it is today. Travelers visiting nearby Iloilo, already known for its food and colonial heritage, would make side trips to the island. Over time, Boracay developed into one of the world’s leading beach destinations. For Japson, other destinations deserve the opportunity to follow a similar path.

PTM puts the vision on display

THAT call to discover more of the country was reflected at the Philippine Travel Mart, PHILTOA’s biggest event, held from September 4 to 6, 2026 at the SMX Convention Center in Pasay City. The event brought together destinations, airlines, hotels, tour operators, and other tourism stakeholders, giving visitors access to travel packages, tourism services, and special rates. More importantly, PTM provided something that online booking platforms cannot always replicate: direct human interaction. “You can see information online, but you cannot get an exclusive package tailor-fitted to your needs—only at PTM because everything related to travel is there and you can have all your inquiries

AS Philippine tourism moves forward, Japson sees opportunities in artificial intelligence, connectivity, infrastructure, product development, and market intelligence. AI, she noted, can improve productivity and efficiency, but finalizing transactions, managing operations on the ground, and maintaining real-time connections remain human responsibilities. Connectivity, meanwhile, goes beyond airports and flights to what she calls the “last mile leg”— how travelers actually reach island and remote destinations once they arrive in the country. The industry must also continue developing distinctive products and understanding its markets. “We have the same offerings. We have beaches, culture, and faith. But how are we going to make ourselves different from them? We have to be creative,” she said. Market intelligence and research will be equally important in identifying global trends, choosing the right markets, and making evidencebased decisions. Yet for all the advances in technology and tourism infrastructure, Japson believes the country’s greatest asset remains its people. She encouraged Filipinos to continue exploring their own country and appreciating its natural beauty, rich cultures, and diverse communities. “Embrace your identity as a Filipino,” she said. “Whenever you have local or international tourists, make sure that they feel at home whenever they visit your destination.” Because promoting the Philippines, she believes, is not the responsibility of the Department of Tourism or the tourism industry alone. “When you say love the Philippines, everybody should know the meaning of love the Philippines,” Japson said. “We have the obligation to cascade it down to every Filipino because marketing our country is everybody’s business, not just DOT’s, not just tour operators. It’s everyone’s business because the face of tourism is everybody.” And perhaps that is the heart of next-generation tourism: using technology to make travel easier, developing destinations to make it richer, and keeping people at the center to make it meaningful. • Watch the full interview on BusinessMirror’s YouTube channel. Catch new episodes of Freshly Brewed every Monday at 10 a.m. on BusinessMirror’s YouTube channel, Facebook page, and website